NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -29.93 points or ▼ -0.19% on Friday, 21 February 2014
Symbol …........Last …......Change.......
Dow_Jones 16,103.30 ▼ -29.93 ▼ -0.19%
Nasdaq____ 4,263.41 ▼ -4.13 ▼ -0.10%
S&P_500___ 1,836.25 ▼ -3.53 ▼ -0.19%
30_Yr_Bond____ 3.70 ▼ -0.03 ▼ -0.81%

NYSE Volume 3,384,787,750
Nasdaq Volume 2,104,607,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,838.06 ▲ 25.07 ▲ 0.37%
DAX_____ 9,656.95 ▲ 38.10 ▲ 0.40%
CAC_40__ 4,381.06 ▲ 25.57 ▲ 0.59%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,449.40 ▲ 28.10 ▲ 0.52%
Shanghai_Comp 2,113.69 ▼ -25.09 ▼ -1.17%
Taiwan_Weight 8,601.86 ▲ 77.24 ▲ 0.91%
Nikkei_225___ 14,865.67 ▲ 416.49 ▲ 2.88%
Hang_Seng.__ 22,568.24 ▲ 174.16 ▲ 0.78%
Strait_Times.__ 3,099.93 ▲ 13.29 ▲ 0.43%
NZX_50_Index_ 4,927.64 ▲ 17.81 ▲ 0.36%

http://finance.yahoo.com/news/early-gain-fades-stocks-p-220200412.html

Early gain fades for stocks; S&P 500 declines

US stocks fall, pushing S&P 500 index to a weekly loss; Groupon plunges on earnings outlook

By Steve Rothwell, AP Markets Writer

Stocks slipped on Friday, pushing the market to a weekly loss, as investors assessed the latest round of company earnings.

Express Scripts, the largest U.S. pharmacy benefits manager, fell after its fourth-quarter earnings slipped, hurt by the loss of UnitedHealth, a large customer. Groupon plunged after the online deals company said it expects to post a loss this quarter and issued a weak outlook for the year.

The Standard & Poor's 500 index rose in early trading Friday and had almost wiped out its loss for the year by late morning, climbing to within two points of it record close. By late afternoon the index started to turn lower.

The stock market has gained this month after getting a boost from decent corporate earnings for the fourth quarter and optimism that the economy will start to pull out of its winter slump as the weather improves.

While investors have been willing to overlook much of the weak economic data this month, they appear reluctant to push the stock market back above its recent highs before they see firmer evidence that the economy is sustaining its recovery.

Investors are "giving the economic data points a bit of a free pass, but at the same time they're not fully convinced either," said Robert Pavlik, chief market strategist at Banyan Partners, a wealth management firm.

The S&P 500 index fell 3.53 points, or 0.2 percent, to 1,836.25. The index lost 2.38 points for the week and is now 12 points below its record close of 1,848.38, set Jan. 15.

The Dow Jones industrial average fell 29.93 points, or 0.2 percent, to 16,103.30. The Nasdaq composite dropped 4.13 points, or 0.1 percent, to 4,263.41.

Among individual stocks, Express Scripts fell $3.11, or 4 percent, to $74.01 after it reported its results.

Groupon plunged $2.25, or 21.9 percent, to $8.03 after the online deals company said it was ramping up its marketing campaign and forecast 2014 pre-tax earnings to be only slightly higher than last year.

Stock investors have had a bumpy ride so far this year.

The S&P 500 was down almost 6 percent for the year at the start of February amid concerns about slowing growth in China and other emerging markets, as well as worries about the state of the U.S. economy. Since then stocks have rebounded, but some investors aren't convinced the recovery will last.

"I've felt all along that this is going to be a very volatile year," said Uri Landesman, president of Platinum Partners, an investment management company. "For me, you've got a lot more downside than upside."

The S&P 500 rose almost 30 percent last year, and investors are now too bullish on the stock market, making it vulnerable to a sell-off, Landesman said.

Ameren, a utility company based in St. Louis, Mo., was among the winners on Friday.

The stock rose $2.07, or 5.3 percent, to $40.88, making it the biggest gainer in the S&P 500. Ameren reported earnings that beat Wall Street's expectations after cold weather boosted demand for gas and electricity.

Among other stocks making big moves on Friday:

— Intuit rose $3.39, or 4.6 percent, to $77.24 after the maker of Quicken, TurboTax and other financial software raised its earnings forecast for its fiscal third quarter. Intuit said it was off to a good start in tax season and that electronic tax filings using TurboTax were up 10 percent as of Feb. 14.

— Priceline.com climbed $32.65, or 2.5 percent, to $1,315.65 after the online travel company reported earnings that exceeded the expectations of Wall Street analysts, as bookings for hotels, rental cars and airline tickets accelerated.

4397

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 103.84 points or ▲ 0.64% on Monday, 24 February 2014
Symbol …........Last …......Change.......
Dow_Jones 16,207.14 ▲ 103.84 ▲ 0.64%
Nasdaq____ 4,292.97 ▲ 29.56 ▲ 0.69%
S&P_500___ 1,847.61 ▲ 11.36 ▲ 0.62%
30_Yr_Bond____ 3.71 ▲ 0.02 ▲ 0.41%

NYSE Volume 3,883,912,750
Nasdaq Volume 2,136,155,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,865.86 ▲ 27.80 ▲ 0.41%
DAX_____ 9,708.94 ▲ 51.99 ▲ 0.54%
CAC_40__ 4,419.13 ▲ 38.07 ▲ 0.87%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,450.10 ▲ 0.70 ▲ 0.01%
Shanghai_Comp 2,076.69 ▼ -37.01 ▼ -1.75%
Taiwan_Weight 8,560.61 ▼ -41.25 ▼ -0.48%
Nikkei_225___ 14,837.68 ▼ -27.99 ▼ -0.19%
Hang_Seng.__ 22,388.56 ▼ -179.68 ▼ -0.80%
Strait_Times.__ 3,105.84 ▲ 5.91 ▲ 0.19%
NZX_50_Index_ 4,969.65 ▲ 42.00 ▲ 0.85%

http://finance.yahoo.com/news/stocks-end-higher-fall-short-212316949.html

Stocks end higher but fall short of record high
Stocks end higher on corporate deals, but S&P 500 index misses record high after fading late

By Ken Sweet, AP Markets Writer

The stock market ended higher Monday, but a late fade kept it from closing at an all-time high.

The market marched broadly higher most of the day, helped by optimism about the economy and more corporate mergers, only to slowly lose momentum in the final half hour of trading.

The Standard & Poor's 500 index ended up 11.36 points, or 0.6 percent, to 1,847.61 ”” just short of its record close of 1,848.38 set on Jan. 15. The momentum helped the index set a new intraday high of 1,858.76 earlier in the day, however.

The Dow Jones industrial average rose 103.84 points, or 0.6 percent, to 16,207.14 and the Nasdaq composite rose 29.56 points, or 0.7 percent, to 4,292.97.

Investors had little in the way of economic data or corporate earnings to work through, so much of Monday's focus was on another round of corporate deal making.

Chipmaker RF Micro Devices jumped $1.22, or 21 percent, to $7.03 after it said would buy a competitor, TriQuint Semiconductor, in an all-stock deal valued at about $1.56 billion. TriQuint soared $2.41, or 26 percent, to $11.64.

Meanwhile, men's clothing chain Jos. A. Bank rose $4.99, or 9 percent, to $60.04 after competitor Men's Wearhouse increased its buyout offer. Men's Wearhouse rose $3.40, or 8 percent, $48.51.

M&A has taken off this year. Last week, Forest Laboratories and Actavis announced a $25 billion merger and Facebook said it was buying WhatsApp for $19 billion. That's on top of deals or offers announced this week.

Companies buying competitors, or buying up a company whose product interests them, should be seen as a positive for stocks, market watchers say.

"It shows that companies still see value in this market, even at these highs," said Quincy Krosby, a market strategist at Prudential Financial.

In the last two-and-a-half weeks, the stock market has basically erased of the losses it experienced after a difficult start to the year.

The S&P 500 index was down as much 6 percent for the year as of February 3 as investors worried about emerging markets like China and Turkey. The U.S. economic recovery was also showing signs of slowing growth.

But the U.S. stock market has recovered as turbulence in overseas markets calms down.

In the latest development in overseas markets, the chaos in Ukraine came to an abrupt halt over the weekend following the ouster of President Viktor Yanulovych. Investors had been worried about the escalating violence.

"The risks in emerging markets continue to recede, and now the problems in the Ukraine are out of the way," said Bill Stone, chief investment strategist at PNC Wealth Management.

The S&P 500's 1,850-point level continues to be a ceiling for investors trying to bid stocks higher. The index has tried to close above 1,850 three times in the last three months, failing each time.

Investors have a chance to test all-time highs after economic reports come out later this week.

Fed Chair Janet Yellen will testify in front of the Senate Banking Committee on Thursday. Economic reports this week include durable goods orders and U.S. fourth-quarter gross domestic product.

Government bond prices were flat Monday. The yield on the 10-year Treasury note was unchanged from Friday at 2.74 percent. The price of oil rose 62 cents to $102.82 a barrel. Gold rose $14.40 to $1,338 an ounce.

In other corporate news:

”” Netflix and Comcast reached an agreement to ensure that the online video service's shows and movies are streamed smoothly. No details were released about the cost to Netflix. Comcast gained 10 cents, or 0.2 percent, to $51.15 and Netflix was up $14.77, or 3 percent, to $447.

”” eBay rose $1.71, or 3 percent, to $56.30 after the activist shareholder Carl Icahn disclosed a 2 percent stake in the company. Icahn is looking to replace several members of eBay's board of directors.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -27.48 points or ▼ -0.17% on Tuesday, 25 February 2014
Symbol …........Last …......Change.......
Dow_Jones 16,179.66 ▼ -27.48 ▼ -0.17%
Nasdaq____ 4,287.59 ▼ -5.38 ▼ -0.13%
S&P_500___ 1,845.12 ▼ -2.49 ▼ -0.13%
30_Yr_Bond____ 3.66 ▼ -0.05 ▼ -1.35%

NYSE Volume 3,467,076,000
Nasdaq Volume 2,102,861,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,830.50 ▼ -35.36 ▼ -0.52%
DAX_____ 9,699.35 ▼ -9.59 ▼ -0.10%
CAC_40__ 4,414.55 ▼ -4.58 ▼ -0.10%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,444.00 ▼ -6.10 ▼ -0.11%
Shanghai_Comp 2,034.22 ▼ -42.47 ▼ -2.04%
Taiwan_Weight 8,575.62 ▲ 15.01 ▲ 0.18%
Nikkei_225___ 15,051.60 ▲ 213.92 ▲ 1.44%
Hang_Seng.__ 22,317.20 ▼ -71.36 ▼ -0.32%
Strait_Times.__ 3,104.38 ▼ -1.46 ▼ -0.05%
NZX_50_Index_ 4,967.51 ▼ -2.13 ▼ -0.04%

http://finance.yahoo.com/news/stocks-end-lower-down-day-215956610.html

Stocks end lower after an up-and-down day
Stocks edge lower after a day of choppy trading; Harsh weather dents consumer confidence

By Ken Sweet, AP Markets Writer

Stocks were unable to find any momentum on Tuesday.

The market drifted between gains and losses throughout the day, then headed steadily lower in the last hour of trading. Investors found some solace in strong results from Home Depot and Macy's. The enthusiasm was not enough, however, to offset an unexpectedly steep decline in consumer confidence this month, due largely to bitter cold weather and winter storms that affected much of the country.

"The weather is having an impact on everything, from homes, vehicles to retail sales, but fortunately we expect that pent-up demand to return later this year," said Joseph Tanious, a global market strategist at J.P. Morgan Funds.

The Dow Jones industrial average lost 27.48 points, or 0.2 percent, to 16,179.66. The Standard & Poor's 500 index fell 2.49 points, or 0.1 percent, to 1,845.12 and the Nasdaq composite fell 5.38 points, or 0.1 percent, to 4,287.59.

Even the retailers, who have a tendency to blame the weather for poor results, had a valid point this time around.

Macy's reported an 11 percent rise in fourth-quarter income that handedly beat analysts' expectations, but sales came up short due to the weather. The company said that at one time in January, 30 percent of its stores were closed because of inclement weather.

Home Depot had a similar story. The nation's largest home improvement retailer said profits fell 1 percent from a year ago, hampered by bad winter conditions.

"We don't like to use weather as an excuse but we think we probably lost $100 million in the month of January," Home Depot's chief financial officer, Carol Tome, said in a conference call with investors. "Atlanta was frozen, for example. It was tough here."

Investors were able to forgive Macy's and Home Depot for missing analysts' sales expectations. Macy's rose $3.19, or 6 percent, to $56.25 and Home Depot closed up $3.11, or 4 percent, to $80.98.

Investors were less forgiving about a weak consumer confidence report.

The Conference Board's index of consumer confidence fell to 78.1 in February from 80.7 the month before. That was below the 80.1 level economists polled by FactSet were expecting. The report is a closely watched indicator of how likely consumers are to spend money and keep the economy moving forward.

The confidence slump was the latest sign in the last several weeks that the recent bout of cold weather has slowed the economy. The regions that had the biggest declines in confidence were in the middle of the storm earlier in this month that brought snow from Atlanta to Boston.

"Perhaps (confidence) would have done slightly better had the weather been less dismal," economists at the investment bank RBS wrote in a note to investors.

Investors should expect more muddled days like this for the next few weeks, strategists say.

Fourth-quarter earnings reports are mostly over. With Home Depot's results now out, all 30 members of the Dow have released earnings for this quarter. By the end of the week, 486 out of the 500 members of the S&P 500 will have reported their results.

That means investors will have little in the way of corporate news to sort through, and fewer reasons to push individual stocks higher.

The economic data for the next few weeks is likely to be a wash as well, as most of it would have been impacted one way or another by the cold weather.

"This lack of direction is going to be with us for a while," said Sam Stovall, chief equity strategy at S&P Capital IQ.

In other markets, the yield on the U.S. 10-year Treasury note was effectively unchanged from the day before at 2.70 percent. The price of crude oil fell 99 cents, or 1 percent, to $101.83 and gold rose $4.70, or 0.4 percent, to $1,342.70.

In other company news:

”” Several defense contractors fell following Defense Secretary Chuck Hagel's announcement Monday that the size of the nation's armed forces would be reduced to below World War II levels. Northrup Grumman fell 2 percent, while Raytheon and Lockheed Martin fell 1.5 percent.

”” Tenet Healthcare fell $4.40, or 9 percent, to $43.92 after the hospital management company reported a loss in the fourth quarter. Tenet took on more debt because of an acquisition and a stock repurchase program.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 18.75 points or ▲ 0.12% on Wednesday, 26 February 2014
Symbol …........Last …......Change.......
Dow_Jones 16,198.41 ▲ 18.75 ▲ 0.12%
Nasdaq____ 4,292.06 ▲ 4.48 ▲ 0.10%
S&P_500___ 1,845.16 ▲ 0.04 ▲ 0.00%
30_Yr_Bond____ 3.63 ▼ -0.03 ▼ -0.71%

NYSE Volume 3,682,812,750
Nasdaq Volume 2,081,429,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,799.15 ▼ -31.35 ▼ -0.46%
DAX_____ 9,661.73 ▼ -37.62 ▼ -0.39%
CAC_40__ 4,396.91 ▼ -17.64 ▼ -0.40%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,447.00 ▲ 3.00 ▲ 0.06%
Shanghai_Comp 2,041.25 ▲ 7.04 ▲ 0.35%
Taiwan_Weight 8,600.86 ▲ 25.24 ▲ 0.29%
Nikkei_225___ 14,970.97 ▼ -80.63 ▼ -0.54%
Hang_Seng.__ 22,437.44 ▲ 120.24 ▲ 0.54%
Strait_Times.__ 3,088.25 ▼ -15.37 ▼ -0.50%
NZX_50_Index_ 4,973.20 ▲ 5.69 ▲ 0.11%

http://finance.yahoo.com/news/stocks-edge-higher-p-500-221501231.html

Stocks edge higher, but S&P 500 ends shy of record
Stocks eke out small gain but S&P 500 falls short of a record for third day; retailers gain

By Steve Rothwell, AP Markets Writer

The stock market is struggling to take it to the next level.

For a third straight day the Standard & Poor's 500 index traded above its record close but fell back to end below it. An early move higher Wednesday was led by retailers and home builders, but the gains mostly petered out in the afternoon. By the closing bell the index was up just a fraction of a point.

After rebounding from losses early in the year, when investors were concerned about the outlook for growth in emerging markets and the U.S., the stock market now appears to be at a crossroads.

While investors seem comfortable attributing the recent weakness in economic reports to the unusually cold weather, they also appear reluctant to push stocks higher before they see more evidence of growth.

"This is a market that has been trying to decipher how much of the negative news is weather-based, against concerns that we have moved into a soft patch," said Quincy Krosby, a market strategist at Prudential Financial.

The S&P 500 edged up four-hundredths of a point to close at 1,845.16, three points short of its record high close of 1,848.38 set Jan. 15. The index climbed as high as 1,852.65.

The Dow Jones industrial average rose 18.75, or 0.1 percent, to 16,198.41. The Nasdaq composite rose 4.48 points, or 0.1 percent, to 4,292.06.

Home builder stocks rose sharply after the government reported that U.S. sales of new homes jumped in January at the fastest pace in more than five years. That's a hopeful sign after a slowdown in the housing market last year caused by higher interest rates. PulteGroup rose 57 cents, or 2.8 percent, to $21.25 and Lennar rose $1.52, or 3.6 percent, to $43.78.

Retailers rose after several encouraging earnings reports.

Lowe's climbed $2.61, or 5.4 percent, to $50.72. The company's net income rose 6 percent in the most recent quarter as the home-improvement retailer continued to benefit from a recovery in the housing market. The company also announced a new $5 billion stock repurchase program.

Abercrombie & Fitch jumped $4.05, or 11.3 percent, to $40.04 after posting earnings that exceeded the expectations of Wall Street analysts. The retailer also initiated a $150 million accelerated share buyback program.

"We've dialed estimates down in that space, simply because of worries about the effects of the weather," said Darrell Cronk, regional chief investment officer for Wells Fargo Private Bank. "A lot of people were walking in today expecting some of those retail companies to have much softer results."

Investor may get a catalyst to push stocks higher on Thursday when Janet Yellen, the new head of the Federal Reserve, testifies in front of the Senate's Banking Committee. Stocks jumped Feb. 11 when Yellen spoke to Congress, and said that she would continue the central bank's market-friendly, low-interest rate policies.

The comments were her first in public since taking over for Ben Bernanke at the Fed. Her appearance in the Senate was delayed because of a winter storm.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.66 percent from 2.70 percent.

Among other stocks making big moves:

”” Barnes & Noble rose 75 cents, or 4.2 percent, to $18.47 after reporting a third-quarter profit. Cost cuts at the company's Nook e-reader unit and elsewhere helped offset declining revenue.

”” Target rose after reporting its quarterly results. The stock surged $3.98, or 7 percent, to $60.49 after the company said its sales have been recovering since January, an encouraging sign after shoppers shunned the store after the theft of credit card numbers and other information from millions of customers last year.

”” Chesapeake Energy fell $1.33, or 4.9 percent, to $25.61 after the oil and natural gas company reported a fourth-quarter loss, hurt by one-time charges. The company's adjusted earnings came in lower than Wall Street expected.

”” First Solar fell $5.29, or 9.1 percent, to $52.74 after the solar panel manufacturer reported earnings that fell short of financial analysts' expectations.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 74.24 points or ▲ 0.46% on Thursday, 27 February 2014
Symbol …........Last …......Change.......
Dow_Jones 16,272.65 ▲ 74.24 ▲ 0.46%
Nasdaq____ 4,318.93 ▲ 26.87 ▲ 0.63%
S&P_500___ 1,854.29 ▲ 9.13 ▲ 0.49%
30_Yr_Bond____ 3.60 ▼ -0.04 ▼ -1.07%

NYSE Volume 3,521,608,250
Nasdaq Volume 2,030,790,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,810.27 ▲ 11.12 ▲ 0.16%
DAX_____ 9,588.33 ▼ -73.40 ▼ -0.76%
CAC_40__ 4,396.39 ▼ -0.52 ▼ -0.01%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,421.00 ▼ -26.00 ▼ -0.48%
Shanghai_Comp 2,047.35 ▲ 6.10 ▲ 0.30%
Taiwan_Weight 8,639.58 ▲ 38.72 ▲ 0.45%
Nikkei_225___ 14,923.11 ▼ -47.86 ▼ -0.32%
Hang_Seng.__ 22,828.18 ▲ 390.74 ▲ 1.74%
Strait_Times.__ 3,096.74 ▲ 8.49 ▲ 0.27%
NZX_50_Index_ 4,964.34 ▼ -8.86 ▼ -0.18%

http://finance.yahoo.com/news/p-500-index-closes-record-220723832.html

S&P 500 index closes at a record high

S&P 500 climbs to all-time high, beating mark set six weeks ago; Drugmaker Mylan leads gains

By Steve Rothwell, AP Markets Writer

After knocking on the door all week, the stock market logged a record on Thursday.

The Standard & Poor's 500 index had moved above its previous all-time high on numerous occasions this week, only to fade in afternoon trading. On Thursday, the index stayed higher after getting a boost from strong earnings reported by a number of U.S. companies including the drugmaker Mylan and several retailers.

The stock market has staged an impressive turnaround in February, after slumping at the start of the year on concerns about the prospects for growth in China and worries about the health of the U.S. economy. Growth in corporate earnings and optimism that the Federal Reserve will keep supporting the economy have helped support demand for stocks.

"In the last few days we've flirted with it, and now we've got the new high," said Ryan Detrick, a senior technical strategist at Schaeffer's Investment Research.

The timing of the new record, just before the start of spring, could help the market extend its gains, Detrick said. March has been the third-strongest month over the last 30 years, with an average gain of 1.4 percent, according to the Stock Traders' Almanac.

"It bodes well for equities for the next couple of months, at least," said Detrick.

The S&P 500 rose 9.13 points, or 0.5 percent, to 1,854.29. Its previous record high close was 1,848.38, set on Jan. 15.

The Dow Jones industrial average rose 74.24, or 0.5, percent, to 16,272.65. The Dow is still about 1.8 percent below its record close of 16,576.66. The Nasdaq composite climbed 26.87 points, or 0.6 percent, to 4,318.93. The Nasdaq is also short of its record close of 5,048.62 set in March 2000.

On Thursday, generic drugmaker Mylan led the S&P 500 index higher after reporting an 11 percent increase in fourth-quarter earnings, beating analysts' expectations despite higher expenses. Mylan's stock climbed $4.85, or 9.4 percent, to $56.27.

Stocks also got a lift from a range of retailers that reported strong earnings.

J.C. Penney jumped $1.51, or 25 percent, to $7.47 after the department store chain swung to a profit in the fourth quarter after posting a big loss in the same period a year earlier. Penney also reported its first quarterly gain in a key revenue figure in more than two years.

Kohl's rose $1.30, 2.4 percent, to $55.74 after the department store operator reported earnings that topped analysts' estimates. Revenue fell but met Wall Street's expectations.

After a tough start to the year, investor sentiment has shifted in February.

The S&P 500 was down almost six percent for the year at the start of February. Investors were selling stocks as manufacturing contracted in China and as currencies in emerging market nations such as Turkey and Argentina plummeted against the dollar. The S&P 500 erased those losses this month and is now positive for the year.

Some of the shift in sentiment was also thanks to the new Federal Reserve chief, Janet Yellen.

Stocks jumped on Feb. 11, when Yellen told Congress she would continue the central bank's market-friendly, low-interest rate policies. The comments were her first since taking over from Ben Bernanke earlier this month.

On Thursday, Yellen told the Senate Banking Committee that some recent economic data have suggested sluggish growth in consumer spending and employment. She said the Fed will be watching to see if the slowdown proves to be a temporary blip caused by the severe winter weather. This time, Yellen's testimony didn't have the same impact on the stock market as it did earlier.

The current environment of moderately improving growth and low interest rates still make it an attractive environment for investing in stocks, said Dan Curtin, an investment specialist at JPMorgan Private Bank.

"The data points that we are seeing, although slightly weaker than we might have thought, are still positive for equity valuations," said Curtin.

In government bond trading, the yield on the 10-year Treasury note fell to 2.65 percent from 2.67 percent on Wednesday.

Among other stocks making big moves:

”” Sears climbed $2.61, or 6.5 percent, to $43.01 after the company said its fourth-quarter loss narrowed. The operator of Sears and Kmart stores lowered expenses and reduced inventories. Sears has been trying to restore profitability by cutting costs, trimming inventory, selling off some assets and spinning off others.

”” General Motors fell 6 cents, or 0.2 percent, to $36.77 after the U.S. government's auto safety watchdog said it is investigating whether the automaker acted quickly enough to recall 1.6 million older-model small cars in a case linked to 13 deaths.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 49.06 points or ▲ 0.30% on Friday, 28 February 2014
Symbol …........Last …......Change.......
Dow_Jones 16,321.71 ▲ 49.06 ▲ 0.30%
Nasdaq____ 4,308.12 ▼ -10.81 ▼ -0.25%
S&P_500___ 1,859.45 ▲ 5.16 ▲ 0.28%
30_Yr_Bond____ 3.59 ▲ 0.00 ▼ -0.11%

NYSE Volume 3,917,548,500
Nasdaq Volume 2,587,945,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,809.70 ▼ -0.57 ▼ -0.01%
DAX_____ 9,692.08 ▲ 103.75 ▲ 1.08%
CAC_40__ 4,408.08 ▲ 11.69 ▲ 0.27%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,415.40 ▼ -5.60 ▼ -0.10%
Shanghai_Comp 2,056.30 ▲ 8.95 ▲ 0.44%
Taiwan_Weight 8,639.58 ▲ 38.72 ▲ 0.45%
Nikkei_225___ 14,841.07 ▼ -82.04 ▼ -0.55%
Hang_Seng.__ 22,836.96 ▲ 8.78 ▲ 0.04%
Strait_Times.__ 3,110.78 ▲ 14.04 ▲ 0.45%
NZX_50_Index_ 4,990.04 ▲ 25.70 ▲ 0.52%

http://finance.yahoo.com/news/stron...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

A strong February wipes out S&P 500's January loss

After posting a solid gain in February, the S&P 500 index is barely higher for the year

By Ken Sweet, AP Markets Writer

After two months of trading, the stock market is back where it started.

The Standard & Poor's 500 index rose 4.3 percent in February, the biggest gain since October 2013, helped by strong corporate earnings and a Federal Reserve that seems to have Wall Street's back at every turn. But the rise in February must be taken in the context that investors spent the month making up the ground they lost in January.

"February looked a lot like January, just moving in the opposite direction," said Scott Clemons, chief investment strategist with Brown Brothers Harriman Wealth Management.

Investors are also now staring at a stock market, while numbers-wise is basically where it was on Jan. 1, that is a lot more defensive than it was two months ago.

Utilities and health care stocks — two traditional "safe" places for investors because of their low volatility and higher-than-average dividends — are the biggest gainers so far this year. Utilities are up 5.7 percent in 2014 and health care is up 6.6 percent.

Investor caution was also evident in the bond market, which has done reasonably well in the last two months. The yield on the benchmark U.S. 10-year Treasury note has fallen from 2.97 percent to 2.65 percent in the last two months as investors returned to the relative safety of government debt. The Barclays U.S. Aggregate bond index, which tracks a broad mix of corporate and government bonds, is up 1.6 percent this year.

"The sentiment now is, 'bonds may not be as bad as I originally thought,'" said Michael Fredericks, a portfolio manager of the Multi-Asset Income Fund at Blackrock.

February's rise came in spite of several economic reports that showed the U.S. economy slowed in the previous month.

It started with the January jobs report, which showed employers only created 113,000 jobs that month. It was far fewer than economists had expected. Other economic reports told a similar story. Consumer confidence, manufacturing and the housing market all fell sharply in January.

Investors blamed the weather, and rightly so. Many companies, particularly retailers, said winter storms of the past two months dramatically impacted their business. Macy's said that at one time in January, 30 percent of its stores were closed because of inclement weather.

Home Depot had a similar story.

"We don't like to use weather as an excuse but we think we probably lost $100 million in the month of January," Home Depot's chief financial officer, Carol Tome, said in a conference call with investors this week. "Atlanta was frozen, for example. It was tough here."

Even with the economic concerns, investors were able to set aside the volatility of January for three reasons, market watchers said.

First, corporate earnings for the fourth quarter overall turned out to be pretty good. Earnings at companies in the S&P 500 index grew 8.5 percent over the same period last year, according to FactSet. Revenue growth also picked up, albeit slightly.

The Federal Reserve, once again, also came to the market's side. Janet Yellen, who in February took over the role as chair of the Federal Reserve, reaffirmed that the central bank plans to keep its market-friendly, low interest rate policies in place for the foreseeable future.

Lastly, weather, by its very nature, is temporary.

Spring will come, at some point, and the winter storms that have kept businesses closed and consumers away from stores will fade, investors say. All that pent-up demand will help the economy recover some of the ground lost in January and February.

"I think 70 percent, 80 percent, of the weakness we saw in January and February was weather related and we will pick up strength in the spring thaw," said Bob Doll, chief equity strategist at Nuveen Asset Management.

Investors will have less information to work with in March than they did in February.

Earnings season is basically over. Of the companies in the S&P 500 index, 484 have reported their results, as have all 30 members of the Dow, so investors won't have any corporate earnings news to respond to.

In the absence of company news, investors would typically look to the steady stream of economic data to find direction. However the severe winter weather of last two months is likely to make the upcoming economic reports even more difficult to interpret.

"You're going to be able to put on spin on any report: 'well that better than it should have been' or 'well, it was the weather,'" Clemons said. "We'll get more trustworthy numbers in April."

On Friday, the S&P 500 rose 5.16 points, or 0.3 percent, to 1,859.45. It was the second all-time closing high for the S&P 500 in a row. The S&P 500 is now up 0.6 percent for the year.

The Dow Jones industrial average rose 49.06 points, or 0.3 percent, to 16,321.76. The Nasdaq composite lost 10.81 points, or 0.3 percent, to 4,308.12.

5169

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -153.68 points or ▼ -0.94% on Monday, 3 March 2014
Symbol …........Last …......Change.......
Dow_Jones 16,168.03 ▼ -153.68 ▼ -0.94%
Nasdaq____ 4,277.30 ▼ -30.82 ▼ -0.72%
S&P_500___ 1,845.73 ▼ -13.72 ▼ -0.74%
30_Yr_Bond____ 3.56 ▼ -0.03 ▼ -0.97%

NYSE Volume 3,400,942,500
Nasdaq Volume 2,028,697,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,708.35 ▼ -101.35 ▼ -1.49%
DAX_____ 9,358.89 ▼ -333.19 ▼ -3.44%
CAC_40__ 4,290.87 ▼ -117.21 ▼ -2.66%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,397.40 ▼ -18.00 ▼ -0.33%
Shanghai_Comp 2,075.23 ▲ 18.93 ▲ 0.92%
Taiwan_Weight 8,601.98 ▼ -37.60 ▼ -0.44%
Nikkei_225___ 14,652.23 ▼ -188.84 ▼ -1.27%
Hang_Seng.__ 22,500.67 ▼ -336.29 ▼ -1.47%
Strait_Times.__ 3,087.47 ▼ -23.31 ▼ -0.75%
NZX_50_Index_ 5,007.40 ▲ 17.37 ▲ 0.35%

http://finance.yahoo.com/news/global-stocks-slide-tensions-build-215517239.html

Global stocks slide as tensions build in Ukraine
Stocks slide as tensions build in Ukraine; Gold, bond prices rise as traders seek safety

By Steve Rothwell, AP Markets Writer

Rising tensions over Russia's military advance into Ukraine pushed stock markets around the world sharply lower on Monday.

The Standard & Poor's 500 index dropped the most in a month, following stock markets in Europe and Asia lower, as Russia's military tightened its grip on the Crimea region. Investors sold stocks and bought less risky assets such as Treasurys and gold. The price of crude oil also rose on concern that Russian oil exports could be disrupted if Western countries impose sanctions on Moscow.

It's the second time this year the U.S. stock market has been roiled by developments in emerging markets. Stocks slipped in January as investors worried about slowing growth in China and other emerging economies. Now a showdown in Ukraine has grabbed investors' attention and stoked fears of a tit-for-tat campaign of economic sanctions between Russia and Western powers.

"Financial markets are doing exactly would you would expect them to," said Phil Orlando, chief equity market strategist at Federated Investors. "You have no idea what is going to happen and how this is going to play out."

The S&P 500 index fell 13.72 points, or 0.7 percent, to 1,845.73, the biggest drop since Feb. 3. The index was down as much as 25 points at one point before recouping some of the ground it lost.

The Dow Jones industrial average dropped 153.68 points, or 0.9 percent, to 16,168.03. The Nasdaq composite fell 30.82 points, or 0.7 percent, to 4,277.30.

European markets fell even more. Germany's DAX sank 3.4 percent and Russia's benchmark stock index plunged 12 percent.

"Europe gets a lot of energy supplies from Russia," said David Kelly, chief global strategist at JPMorgan funds. "So, Europe would be a lot more directly affected by a trade war with Russia than the United States would."

Kelly says that the most likely scenario is that Russia and Western powers, including the U.S., will reach a compromise relatively quickly. That would send stock prices higher.

As investors sold risky stocks, they bought safer assets such as gold and U.S. government debt securities. The dollar and the Japanese yen also increased in value.

The price of gold rose $28.70, or 2.2 percent, to $1,350.30 an ounce, its biggest gain of the year. The yield on the 10-year Treasury note, which moves inversely to its price, fell to 2.60 percent from 2.64 percent on Friday.

The price of crude following warnings by Washington and other governments that Russia, a major oil exporter, might face sanctions after it seized control of Ukraine's Crimean Peninsula. Russia was the world's second-largest producer of oil in 2012, accounting for 12.6 percent of global supplies, according to the International Energy Agency.

The prices of crude oil climbed $2.33, or 2.3 percent, to $104.92 a barrel, its highest price of the year.

Russian stocks that trade in the U.S. were also hit hard. Mechel, a mining company, fell 18 cents, or 9.5 percent, to $1.72; Phone company VimpelCom fell 51 cents, or 5 percent, to $9.65. Energy company LukOil fell $3.20, or 5.9 percent, to $51.20.

The drop in stocks might also present investors with the opportunity to buy stocks at lower prices, said Terry Sandven, chief equity strategist for USBank.

"Clearly geopolitical risks are elevated, but it's too early to tell about the longer-term implications," Sandven said. "It's still a buy-on-the-dip equity market and the fundamental backdrop is still favorable for equities to trade higher."

The developments in the Ukraine also overshadowed some encouraging developments on the U.S. economy.

Manufacturing in the U.S. expanded at a faster pace in February as new orders and businesses boosted their stockpiles. The Institute for Supply Management, a group of purchasing managers, said Monday that its manufacturing index rose to 53.2 in February from 51.3 in January. Any reading above 50 signals growth.

Americans also spent more in January, but the increase came from a surge in spending on heating bills during the harsh winter. Spending in areas such as autos and clothing declined. Spending rose 0.4 percent in January after a 0.1 percent gain in December, the Commerce Department said Monday. The December figure was revised down from a 0.4 percent increase.

Among other stocks making big moves on Monday:

”” Lorillard, the maker of Newport cigarettes, rose $4.55, or 9.3 percent, to $53.61 after the Financial Times reported that rival RJ Reynolds, the maker of Lucky Strike and Camel cigarettes, was considering making a bid for the company.

”” Darden Restaurants, the parent company of Olive Garden, slumped $2.73, or 5.3 percent, to $48.33 after the restaurant operator said that exceptionally rough winter weather reduced earnings in its latest quarter by about 7 cents per share. Expenses related to the company's plan to split off its Red Lobster chain also hurt earnings.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 227.85 points or ▲ 1.41% on Tuesday, 4 March 2014
Symbol …........Last …......Change.......
Dow_Jones 16,395.88 ▲ 227.85 ▲ 1.41%
Nasdaq____ 4,351.97 ▲ 74.67 ▲ 1.75%
S&P_500___ 1,873.91 ▲ 28.18 ▲ 1.53%
30_Yr_Bond____ 3.64 ▲ 0.08 ▲ 2.28%

NYSE Volume 3,726,496,000
Nasdaq Volume 2,438,204,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,823.77 ▲ 115.42 ▲ 1.72%
DAX_____ 9,589.15 ▲ 230.26 ▲ 2.46%
CAC_40__ 4,395.90 ▲ 105.03 ▲ 2.45%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,411.70 ▲ 14.30 ▲ 0.26%
Shanghai_Comp 2,071.47 ▼ -3.76 ▼ -0.18%
Taiwan_Weight 8,554.54 ▼ -47.44 ▼ -0.55%
Nikkei_225___ 14,721.48 ▲ 69.25 ▲ 0.47%
Hang_Seng.__ 22,657.63 ▲ 156.96 ▲ 0.70%
Strait_Times.__ 3,101.21 ▲ 13.74 ▲ 0.45%
NZX_50_Index_ 5,033.26 ▲ 25.86 ▲ 0.52%

http://finance.yahoo.com/news/stocks-surge-tensions-ease-ukraine-144415907.html

Stocks surge as tensions ease in Ukraine
US stocks sharply higher as tensions ease in Ukraine; Gold, oil, bond prices fall

By Joshua Freed, AP Business Writer

Relieved investors sent stocks sharply higher on Tuesday after Russia pulled troops back from the border of Ukraine.

The rally pushed the Standard & Poor's 500 index to an all-time high, erasing steep losses from Monday, when investors feared that the confrontation between Russia and Ukraine would escalate or even lead to a war.

Traders were relieved when Russian President Vladimir Putin ordered troops participating in military exercises near Ukraine to return to their bases.

The S&P 500 rose 28.18 points, or 1.53 percent, to close at 1,873.91. It was the biggest gain for the benchmark index since October. The Dow Jones industrial average rose 227.85 points, or 1.41 percent, to 16,395.88. The Nasdaq composite rose 74.67 points, or 1.75 percent, to 4,351.97.

As investors moved back to riskier assets, prices fell for safe-play investments like bonds and gold. Oil prices also fell as the immediate threat of economic sanctions on Russia, a major oil exporter, eased. Traders had also been worried about transportation disruptions in the Black Sea, a major transit point for oil. The yield on the 10-year Treasury note rose to 2.68 percent from 2.60 percent late Monday.

In another sign of a greater appetite for risk, the Russell 2000 index of small-company stocks set another all-time high after posting the biggest percentage gains of the major U.S. stock indexes. The Russell jumped 32.29 points, or 2.7 percent, to 1,208.65. It is now up almost 3.9 percent this year.

The two-day rout and rally was just the latest twist in a volatile year for stocks, which fell almost 6 percent just last month and have since recovered to set all-time highs in recent days.

So what is an investor supposed to do in the face of this volatility?

"I think maybe you take a powder. Maybe take some positions off the table, and you hedge yourself a little but, for the chance that if it does go the other way and there is a downturn," said Stephen J. Carl, head equity trader at The Williams Capital Group.

The conflict between Russia and Ukraine threatened to destabilize Europe and upset oil markets. And it wasn't clear which countries might be drawn into the conflict if it got worse. Wall Street hates uncertainty, and on Monday that's all there was. So investors were relieved when Putin appeared to back down on Tuesday.

"I think the reaction today is probably more hopeful than rational," said Brad McMillan, Chief Investment Officer for Commonwealth Financial. McMillan noted that Putin made his point with Ukraine just a week after the Sochi Olympics ended. Hosting the Olympics was a way for Putin to show that Russia was open for business, but the conflict with Ukraine threw that away, McMillan said.

Stock markets in Europe, including Moscow, and Asia recouped much of Monday's losses. Indexes in France and Germany each rose 2.5 percent, and the FTSE 100 in Britain rose 1.7 percent.

The gains were extraordinarily broad. Five stocks rose for every one that fell on the New York Stock Exchange. All 10 industry sectors in the S&P 500 average rose.

Among stocks making big moves:

”” RadioShack plunged 47 cents, or 17 percent, to close at $2.25 after reporting a wider quarterly loss and saying it will close as many as 1,100 stores.

”” Qualcomm rose $2.48, or 3 percent, to $76.11 after the chipmaker announced a 20 percent increase in its quarterly dividend and adding $5 billion to its stock buyback program. Buybacks generally benefit shareholders because they increase the value of remaining shares.

”” J.C. Penney Co. rose 33 cents, or 4 percent, to $8.29 after Standard & Poor's raised its outlook on the retailer's debt, saying Penney's performance "has begun to stabilize." Last week Penney posted its first gain in two years at stores open at least a year.

”” Delta Air Lines rose $1.86, or almost 6 percent, to $34.45 after reporting strong February domestic demand and passenger revenue

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -35.7 points or ▼ -0.22% on Wednesday, 5 March 2014
Symbol …........Last …......Change.......
Dow_Jones 16,360.18 ▼ -35.70 ▼ -0.22%
Nasdaq____ 4,357.97 ▲ 6.00 ▲ 0.14%
S&P_500___ 1,873.81 ▼ -0.10 ▼ -0.01%
30_Yr_Bond____ 3.64 ▲ 0.01 ▲ 0.16%

NYSE Volume 3,352,793,750
Nasdaq Volume 2,153,868,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,775.42 ▼ -48.35 ▼ -0.71%
DAX_____ 9,542.02 ▼ -47.13 ▼ -0.49%
CAC_40__ 4,391.25 ▼ -4.65 ▼ -0.11%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,457.30 ▲ 45.60 ▲ 0.84%
Shanghai_Comp 2,053.08 ▼ -18.39 ▼ -0.89%
Taiwan_Weight 8,632.93 ▲ 78.39 ▲ 0.92%
Nikkei_225___ 14,897.63 ▲ 176.15 ▲ 1.20%
Hang_Seng.__ 22,579.78 ▼ -77.85 ▼ -0.34%
Strait_Times.__ 3,116.64 ▲ 11.93 ▲ 0.38%
NZX_50_Index_ 5,073.09 ▲ 39.83 ▲ 0.79%

http://finance.yahoo.com/news/stocks-settle-down-big-swings-220146556.html

Stocks settle down after big swings on Ukraine
Stocks settle down near record after big swings on Ukraine; Whiskey maker Brown-Forman gains

By Steve Rothwell, AP Markets Writer

Calm returned to the stock market Wednesday after two days of volatile trading.

The Standard & Poor's 500 index traded within a range of about five points, or about a quarter of a percentage point for the whole day, before ending a fraction lower. Investors weighed a tepid hiring survey, some strong company earnings and falling oil prices.

Stocks plunged Monday, then surged to a record high on Tuesday as tensions in Ukraine flared, then eased.

"We're returning to normality," said John Manley, chief equity strategist at Wells Fargo Fund Management. "What the market now trades on is fundamentals, and the fundamentals are still good."

The S&P 500 index fell 0.10 point, or less than 0.1 percent, to 1,873.81. Its close on Tuesday of 1,873.91 was a record high.

The Dow Jones industrial average fell 35.70 points, or 0.2 percent, to 16,360.18. The Nasdaq rose six points, or 0.1 percent, to 4,357.97.

Manley expects the rally to remain intact as long as the Federal Reserve keeps up its support of the economy and companies can keep increasing their earnings.

The Fed is buying $65 billion worth of bonds every month and isn't expected to raise short-term interest rates any time soon. Company earnings are forecast to climb 8.1 percent in the fourth quarter to a record $28.49 per share for S&P 500 companies, according to S&P Capital IQ.

Energy stocks were the biggest losers Wednesday. They fell after the price of oil dropped for a second day as tensions eased in Ukraine and the threat of economic sanctions against Russia appeared to recede.

Exxon Mobil fell $2.72, or 2.8 percent, to $93.80, making it one of the biggest decliners in the S&P 500. The company said it planned to cut its capital spending by 6 percent this year and that its production will rise 2 percent.

Stocks started the day fluctuating between small gains and small losses after a tepid report on hiring. Payroll processor ADP said Wednesday that businesses added 139,000 jobs in February, up from 127,000 the month before, however January's figure was revised sharply lower from an original estimate of 175,000.

The ADP numbers cover only private businesses and often differ from the government's more comprehensive survey of the U.S. employment market. The Department of Labor releases its monthly report Friday. Economists believe the U.S. will report that employers generated 145,000 jobs in February.

Stocks have rebounded to record levels this month, despite a series of weak economic reports, as investors remain confident that the economy will strengthen once an unusually cold winter has passed.

"You would hope that there will be some pent-up demand that wasn't satisfied, whether it's consumers, or business activity that didn't get done, during these bad winter months," said Colleen Supran, a principal at San Francisco-based Bingham, Osborn & Scarborough. "Maybe that will help earnings."

Among the winning stocks on Wednesday were Brown-Forman, the maker of Jack Daniel's Whiskey, and video game retailer GameStop.

Brown-Forman rose $3.10, or 3.7 percent, to $87.11 after the company reported earnings that beat analyst's expectations. The distiller also raised its full-year earnings forecast. GameStop climbed $1.40, or 3.7 percent, to $38.75 after the company said late Thursday that it would increase its annual dividend by 20 percent to $1.32 a share.

In government bond trading, the yield on the 10-year Treasury note was unchanged at 2.70 percent. The price of oil fell $1.88, or 1.8 percent, to close at $101.45 a barrel.

Among other stocks making big moves:

”” Smith & Wesson jumped $1.94, or 16.4 percent, to $13.74 after the gun maker's quarterly results topped expectations. The company's forecast for earnings in its fourth fiscal quarter was also better than Wall Street was expecting. Gun sales surged last year in the wake of the massacre at Sandy Hook Elementary School in Newtown, Conn. and other shootings. Many gun enthusiasts went on a buying spree, fearing new laws restricting gun ownership.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 61.71 points or ▲ 0.38% on Thursday, 6 March 2014
Symbol …........Last …......Change.......
Dow_Jones 16,421.89 ▲ 61.71 ▲ 0.38%
Nasdaq____ 4,352.13 ▼ -5.85 ▼ -0.13%
S&P_500___ 1,877.03 ▲ 3.22 ▲ 0.17%
30_Yr_Bond____ 3.69 ▲ 0.04 ▲ 1.18%

NYSE Volume 3,337,068,000
Nasdaq Volume 2,110,943,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,788.49 ▲ 13.07 ▲ 0.19%
DAX_____ 9,542.87 ▲ 0.85 ▲ 0.01%
CAC_40__ 4,417.04 ▲ 25.79 ▲ 0.59%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,459.70 ▲ 2.40 ▲ 0.04%
Shanghai_Comp 2,059.58 ▲ 6.49 ▲ 0.32%
Taiwan_Weight 8,713.79 ▲ 80.86 ▲ 0.94%
Nikkei_225___ 15,134.75 ▲ 237.12 ▲ 1.59%
Hang_Seng.__ 22,702.97 ▲ 123.19 ▲ 0.55%
Strait_Times.__ 3,129.17 ▲ 12.53 ▲ 0.40%
NZX_50_Index_ 5,114.79 ▲ 41.70 ▲ 0.82%

http://finance.yahoo.com/news/stocks-rise-us-job-market-214113032.html

Stocks rise as US job market improves
Stocks mostly higher on encouraging news about US job market; S&P 500 sets another record high

By Ken Sweet, AP Markets Writer

Investors were looking for any reason to look past the cold weather that has hampered the U.S. economy in the last few weeks, and they found it.

Stocks mostly rose Thursday, helped by a report that showed the number of people who filed for unemployment benefits fell last week to the lowest level in three months. The gains were enough to give the Standard & Poor's 500 index its third all-time high this week.

The report on unemployment claims was one of the first bits of good news investors have gotten on the economy, following weeks of data that painted a picture of a U.S. economic recovery that was slowing down due to the severe winter weather that has hit much of the country.

"Investors are putting more weight on the data that makes sense and ignoring the data that was impacted by the harsh winter weather," said Kate Warne, a market strategist with Edward Jones.

The S&P 500 index rose 3.22 points, or 0.2 percent, to 1,877.03.

Staples fell the most of any stock in the S&P 500 after the office supplies store company said it would close 10 percent of its stores because nearly half of its sales are now generated online. The stock fell $2.05, or 15 percent, to $11.35.

Staples is the second major brick-and-mortar retailer to announce large-scale store closures this week. Two days ago RadioShack said it would close as many as 1,100 locations as part of a restructuring effort.

The Dow Jones industrial average rose 61.71 points, or 0.4 percent, to 16,421.89. The Nasdaq composite fell 5.85 points, or 0.1 percent, to 4,352.13.

The number of people who filed for unemployment benefits fell by 26,000 last week to 323,000, according to the Labor Department. That was far less than the 337,000 claims economists had expected, according to FactSet, and a sign that fewer people are being laid off.

Typically investors would not put much weight in the weekly unemployment report, because the numbers can be volatile. But with the rest of the data investors typically have at their disposal tainted by the weather, including Friday's closely watched monthly government jobs report, investors don't have much to work with at the moment.

The figures for weekly unemployment claims coming up over the next several weeks will be the freshest data investors will have, strategists said.

"We won't get a clean reading on the economy until we get through this bad weather," Krosby said.

Expectations for the February job numbers are low. Economists expect employers added 145,000 jobs last month and that the unemployment rate held steady at 6.6 percent. Before the bad winter weather hit much of the country starting in December, the U.S. economy was creating around 225,000 jobs a month.

Outside the U.S., investors remained concerned about Ukraine, where tensions have been escalating over Russia's deployment of troops to Ukraine's Crimea Peninsula.

Moscow-backed Crimean officials said Thursday that the region would hold a referendum to decide whether it should be annexed by Russia. President Barack Obama declared that the referendum would violate international law.

In other markets, bond prices fell. The yield on the 10-year U.S. Treasury note rose to 2.73 percent from 2.71 percent Wednesday. Gold rose $11.50 to $1,351.80 an ounce. Gold has risen 2 percent this week as the tensions in Ukraine escalated.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 30.83 points or ▲ 0.19% on Friday, 7 March 2014
Symbol …........Last …......Change.......
Dow_Jones 16,452.72 ▲ 30.83 ▲ 0.19%
Nasdaq____ 4,336.22 ▼ -15.90 ▼ -0.37%
S&P_500___ 1,878.04 ▲ 1.01 ▲ 0.05%
30_Yr_Bond____ 3.72 ▲ 0.04 ▲ 0.95%

NYSE Volume 3,562,317,750
Nasdaq Volume 2,138,622,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,712.67 ▼ -75.82 ▼ -1.12%
DAX_____ 9,350.75 ▼ -192.12 ▼ -2.01%
CAC_40__ 4,366.42 ▼ -50.62 ▼ -1.15%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,477.00 ▲ 17.30 ▲ 0.32%
Shanghai_Comp 2,057.91 ▼ -1.67 ▼ -0.08%
Taiwan_Weight 8,713.96 ▲ 0.17 ▲ 0.00%
Nikkei_225___ 15,274.07 ▲ 139.32 ▲ 0.92%
Hang_Seng.__ 22,660.49 ▼ -42.48 ▼ -0.19%
Strait_Times.__ 3,136.26 ▲ 7.09 ▲ 0.23%
NZX_50_Index_ 5,125.65 ▲ 10.86 ▲ 0.21%

http://finance.yahoo.com/news/us-stocks-muddled-ukraine-tensions-214841053.html

US stocks muddled as Ukraine tensions fester
Stocks are mixed as tensions build in Ukraine, offsetting pickup in hiring last month

By Ken Sweet, AP Markets Writer

One positive report on the economy was not enough to make investors more confident.

The stock market ended mixed Friday after a day of muddled trading. Among the three main U.S. stock indexes, one edged higher, one closed little changed and the other closed lower.

Investors focused on the tensions in Ukraine, where the region of Crimea was preparing for a referendum on whether to split away and become part of Russia. It was enough of a reason to sell into the weekend and to offset optimism over a pickup in hiring by U.S. employers last month.

The Labor Department said companies created 175,000 jobs last month, easily topping economists' forecasts. While encouraging, investors didn't see the February report as part of a broader trend. December and January job figures were mediocre, and the harsh winter weather has closed factories, cut into auto sales, and caused existing-home sales to plummet for the last three months.

"People are hoping and praying that the recent slowness was weather-related, and while this report gave people a little bit of hope that is the case, it is still too early to tell," said Krishna Memani, chief investment officer of OppenheimerFunds.

The Standard & Poor's 500 index closed roughly flat, up a point, or 0.05 percent, to 1,878.04. The Dow Jones rose 30.83 points, or 0.2 percent, to 16,452.72 and the Nasdaq composite lost 15.90 points, or 0.4 percent, to 4,336.22.

On the whole, the overall tone of the market was slightly negative. Three stocks fell for every two that rose on the New York Stock Exchange. Of the 10 industry sectors in the S&P 500 index, six fell.

Biotechnology and health care stocks were among the biggest decliners. Biogen Idec fell roughly 4 percent and Amgen fell 2 percent. The Nasdaq composite index is more heavily weighted to biotechnology and specialty pharmaceutical companies, which is part of the reason the index fell even though the Dow and S&P 500 rose.

Bond prices fell following the release of the jobs numbers. The yield on the 10-year U.S. Treasury note rose to 2.79 percent, up from 2.74 percent on Thursday. Gold fell $13.60, or 1 percent, to $1,338.20.

As they have for much of the week, investors turned their attention overseas.

Lawmakers in Russian-occupied Crimea unanimously declared they wanted to join Russia and would put the decision to voters in 10 days. President Barack Obama and several other Western leaders have condemned the referendum.

Ukraine's economy is not large enough to cause serious damage to the global economy. But the geopolitical tensions that Russia's occupation is creating between Russia, Europe, Ukraine and the U.S. could potentially be destabilizing for the region, investors say. In particular, trade between Europe and Russia could be severely impacted.

Germany's DAX index fell 2 percent Friday, and is down nearly 4 percent this week. The Euro Stoxx 50 index, the European equivalent of the Dow Jones industrial average, fell 1.7 percent this week.

"Europe has a lot more to lose in these Russia-Ukraine tensions than the U.S.," said Andres Garcia-Amaya, a global markets strategist with J.P. Morgan Assets Management.

The geopolitical tensions could flare up at any point, Garcia-Amaya said, giving investors fewer reasons to hold positions through the weekend.

In other company news:

— The discount retail chain Big Lots soared $6.72, or 23 percent, to $35.97. Big Lots reported a decline in fourth-quarter profits but the company's sales came in much better than expected. The company also said it would shut down its struggling Canadian operations.

— Grocery store chain Safeway fell 87 cents, or 2 percent, to 38.60 after the company said private equity firm Cerberus Capital would buy the company for $9 billion.

5906

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -34.04 points or ▼ -0.21% on Monday, 10 March 2014
Symbol …........Last …......Change.......
Dow_Jones 16,418.68 ▼ -34.04 ▼ -0.21%
Nasdaq____ 4,334.45 ▼ -1.77 ▼ -0.04%
S&P_500___ 1,877.17 ▼ -0.87 ▼ -0.05%
30_Yr_Bond____ 3.73 ▲ 0.01 ▲ 0.16%

NYSE Volume 3,002,648,500
Nasdaq Volume 2,093,200,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,689.45 ▼ -23.22 ▼ -0.35%
DAX_____ 9,265.50 ▼ -85.25 ▼ -0.91%
CAC_40__ 4,370.84 ▲ 4.42 ▲ 0.10%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,430.80 ▼ -46.20 ▼ -0.84%
Shanghai_Comp 1,999.06 ▼ -58.84 ▼ -2.86%
Taiwan_Weight 8,665.24 ▼ -48.72 ▼ -0.56%
Nikkei_225___ 15,120.14 ▼ -153.93 ▼ -1.01%
Hang_Seng.__ 22,264.93 ▼ -395.56 ▼ -1.75%
Strait_Times.__ 3,121.97 ▼ -14.29 ▼ -0.46%
NZX_50_Index_ 5,117.83 ▼ -7.82 ▼ -0.15%

http://finance.yahoo.com/news/stocks-end-slightly-lower-china-210530058.html

Stocks end slightly lower on China growth worries
US stock market ends lower as disappointing Chinese exports data stokes growth concerns

By Alex Veiga, AP Business Writer

Stocks drifted to a slightly lower finish Monday as investors sifted through a blend of discouraging economic data from China and Japan as well as ongoing uncertainty over Russia's incursion into Ukraine.

Major market indexes pared their losses as the day drew to a close, aided by some high-flying stocks, including Alexion Pharmaceuticals, Chiquita Brands International and Southwest Airlines.

In the absence of U.S. economic data, investors focused on news that China's exports slumped 18 percent in February. The report reinforced fears about the outlook for the world's second-largest economy.

In addition, Japan reported a record current account deficit for January and lowered its economic growth estimate for the October-December quarter to 0.7 percent from 1 percent.

The reports made for a downbeat start for the market as investors seized the moment to recalibrate their stock holdings.

"It was a little bit of an excuse to take some money off the table," said Ron Florance, deputy chief investment officer at Wells Fargo Private Bank. "We have geopolitical uncertainty, so (it's) a good excuse to re-evaluate your risk exposure. It's going to be par for the course for this year."

The Standard & Poor's 500 index edged down 0.87 of a point to close at 1,877.17. It had been down 11 points earlier.

The Dow Jones industrial average lost 34.04 points, or 0.2 percent, to 16,418.68. The Nasdaq composite fell 1.77 points, or less than 0.1 percent, to 4,334.45.

The three major U.S. indexes are still up for the month, and only the Dow is down for the year. The S&P 500 ended Monday up 1.6 percent for the year, while the Nasdaq finished up 3.8 percent.

The downbeat economic report from China hurt several industry sectors heavily reliant on Chinese economic growth, in particular, materials, energy and industrials. Six of the 10 sectors of the S&P 500 index ended lower, led by industrials. Mining company Cliffs Natural Resources was among the biggest decliners in the S&P 500, shedding 70 cents, or 3.8 percent to $17.95.

"The market is growing more pessimistic around growth in China," said David Chalupnik, head of equities for Nuveen Asset Management. "Expectations have been coming down, but the numbers have been disappointing even those reduced expectations."

Despite the disappointing data from China, some market watchers anticipate that last week's gains will continue.

The S&P 500 index notched record highs three times last week as investors grew more confident that weak U.S. economic reports in recent weeks were a reflection of unusually severe winter weather, not a broad economic slowdown. Better-than-expected payroll numbers last week also helped encourage investors.

"In general, I think the market will move past the poor China export numbers fairly quickly," said James Liu, global market strategist at J.P. Morgan Funds. "There's still a lot of fundamental support for the S&P at this particular range."

Chalupnik also anticipates Monday's decline isn't telling of the market's trajectory for the week ahead, barring more fallout from Russia's deployment of troops in Ukraine.

"My guess is the market moves ever so slightly higher this week," he said. "The trend is still up. We really haven't seen anything to break that trend."

Monday marked the fifth anniversary of the current bull market in stocks. The S&P 500 index bottomed out on March 9, 2009, and is up about 177 percent since then. The run-up over the past five years has been helped by stimulus from the Federal Reserve, record corporate profits, the economic recovery and companies repurchasing their own stock.

This is a light week for market-moving economic data and corporate earnings. But investors will be watching the latest data on retail sales, due out Thursday, and a gauge of consumer confidence due out Friday.

"Those two sets of numbers will really tell us where the consumer is and whether or not the consumer will head out and spend when the weather warms up," Liu said.

Among the stocks bucking the slight downward turn Monday was Alexion Pharmaceuticals.

The company climbed the most of any stock in the S&P 500 index, vaulting $11.95, or 7.1 percent, to $180. The company raised its 2014 earnings forecast, saying the national health agency of France will reimburse it for past sales of its drug Soliris.

Chiquita was another gainer. It agreed to combine with Dublin-based Fyffes to become the world's top banana company. The stock-for-stock transaction announced Monday creates a global banana and fresh produce company with $4.6 billion in annual revenue. Chiquita rose $1.16, or 10.7 percent, to $12.

Southwest Airlines' stock touched a 52-week high of $23.67 early in the day before ending up 50 cents, or 2.2 percent, to $23.60. The carrier got a boost after it reported that passengers are flying more miles, a trend that helped send a key revenue figure higher last month.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -67.43 points or ▼ -0.41% on Tuesday, 11 March 2014
Symbol …........Last …......Change.......
Dow_Jones 16,351.25 ▼ -67.43 ▼ -0.41%
Nasdaq____ 4,307.19 ▼ -27.26 ▼ -0.63%
S&P_500___ 1,867.63 ▼ -9.54 ▼ -0.51%
30_Yr_Bond____ 3.71 ▼ -0.02 ▼ -0.51%

NYSE Volume 3,365,968,250
Nasdaq Volume 2,452,951,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,678.06 ▼ -11.39 ▼ -0.17%
DAX_____ 9,307.79 ▲ 42.29 ▲ 0.46%
CAC_40__ 4,349.72 ▼ -21.12 ▼ -0.48%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,429.30 ▼ -1.50 ▼ -0.03%
Shanghai_Comp 2,001.16 ▲ 2.09 ▲ 0.10%
Taiwan_Weight 8,702.33 ▲ 37.09 ▲ 0.43%
Nikkei_225___ 15,224.11 ▲ 103.97 ▲ 0.69%
Hang_Seng.__ 22,269.61 ▲ 4.68 ▲ 0.02%
Strait_Times.__ 3,129.40 ▲ 2.77 ▲ 0.09%
NZX_50_Index_ 5,101.94 ▼ -15.90 ▼ -0.31%

http://finance.yahoo.com/news/us-stocks-end-slightly-lower-211801252.html

US stocks end slightly lower for a second day
Thin slate of economic news keeps stocks in the red, investors focused on company headlines

By Alex Veiga, AP Business Writer

Without any big economic news or blowout company earnings to respond to, investors found little to get excited about Tuesday and sent the stock market lower for the second day in a row.

A few companies grabbed headlines for posting poor quarterly results or consummating long-running merger talks Tuesday. But the broader market barely budged for much of the day, then closed slightly lower. Investors didn't see enough that they liked to drive up a market that hit three record highs last week.

"It's a market that is looking for some direction overall," said J.J. Kinahan, chief strategist with TD Ameritrade. "We've had such a nice run, I think you're seeing people take some profits."

The Standard & Poor's 500 index slipped 9.54 points, or 0.5 percent, to close at 1,867.63. The Dow Jones industrial average lost 67.43 points, or 0.4 percent, to 16,351.25. The Nasdaq composite fell 27.26 points, or 0.6 percent, to 4,307.19.

The S&P 500 and the Nasdaq are both up for the year, though they lost some ground from the start of the week. The S&P 500 is up 1 percent, while the Nasdaq is up 3.1 percent. The Dow is down 1.4 percent so far this year.

General Motors, Men's Wearhouse and American Eagle Outfitters were among the stocks in focus Tuesday.

GM dropped $1.91, or 5.1 percent, to $35.18 on news that a congressional committee is investigating the way the automaker and a federal safety agency handled a deadly ignition switch problem in compact cars.

The stocks of teen retailers American Eagle Outfitters and Urban Outfitters took a beating.

American Eagle tumbled $1.11, or 7.8 percent, to $13.10 after the store chain issued a fiscal first-quarter outlook that fell short of Wall Street's expectations. The company also reported an 89 percent slide in its fourth-quarter net income as winter storms weighed on sales.

Urban Outfitters fell $1.60, or 4.3 percent, to $35.91 after reporting its own results.

Investors cheered word that Men's Wearhouse agreed to buy Jos. A. Bank for $1.8 billion after months of on-again, off-again talks. Men's Wearhouse rose $2.57, or 4.7 percent, to $57.14. Jos. A. Bank climbed $2.39, or 3.9 percent, to $64.22.

The declines were broad. Nine of the 10 sectors in the S&P 500 index fell, led by energy stocks. The one sector that rose, consumer staples, eked out a gain of just 0.01 percent. Stocks of those companies, which make consumer staple goods like soft drinks and detergents, tend to be in favor when investors are feeling cautious and want low-risk investments that produce steady income. Among consumer staples companies, PepsiCo rose $1.08, or 1.3 percent, to $82.81.

McDonald's had the biggest gain among companies in the S&P 500 index, rising $3.58, or 3.8 percent, to $98.78. The stock is rebounding after slumping a day earlier.

Some other companies also mounted comebacks.

J.C. Penney rose 25 cents, or 3 percent, to $8.67 after analysts at Citigroup upgraded the department store chain, praising the retailer's efforts to recover from a botched overhaul that alienated longtime customers.

The Labor Department said Tuesday that employers posted 3.9 million job openings in January, up 1.5 percent from December, a sign that hiring should remain steady in coming months. However, the increase fell short of what the market was expecting.

Investors are watching for any signs the job market is strengthening as they try to gauge how the Federal Reserve will manage its economic stimulus efforts. The central bank is expected to continue paring its bond purchases, which are aimed at keeping long-term loan rates low and encouraging borrowing and investing. But if economic data signal that the economy is weakening, the Fed could opt to keep the stimulus spigot open. The Fed holds its next policy meeting next week.

"The most important data really is the jobs data," said David Roda, regional chief investment officer at Wells Fargo Private Bank. "We think that's going to be a major driver of Fed policy response."

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -11.17 points or ▼ -0.07% on Wednesday, 12 March 2014
Symbol …........Last …......Change.......
Dow_Jones 16,340.08 ▼ -11.17 ▼ -0.07%
Nasdaq____ 4,323.33 ▲ 16.14 ▲ 0.37%
S&P_500___ 1,868.20 ▲ 0.57 ▲ 0.03%
30_Yr_Bond____ 3.67 ▼ -0.04 ▼ -1.13%

NYSE Volume 3,245,204,250
Nasdaq Volume 2,100,534,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,620.90 ▼ -64.62 ▼ -0.97%
DAX_____ 9,188.69 ▼ -119.10 ▼ -1.28%
CAC_40__ 4,306.26 ▼ -43.46 ▼ -1.00%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,400.50 ▼ -28.80 ▼ -0.53%
Shanghai_Comp 1,997.69 ▼ -3.47 ▼ -0.17%
Taiwan_Weight 8,684.73 ▼ -17.60 ▼ -0.20%
Nikkei_225___ 14,830.39 ▼ -393.72 ▼ -2.59%
Hang_Seng.__ 21,901.95 ▼ -367.66 ▼ -1.65%
Strait_Times.__ 3,097.43 ▼ -31.97 ▼ -1.02%
NZX_50_Index_ 5,096.53 ▼ -5.41 ▼ -0.11%

http://finance.yahoo.com/news/us-stocks-finish-mostly-higher-212312067.html

US stocks finish mostly higher after a weak start
US stocks shake off listless start to finish mostly higher, led by oil refiners, tech firms

By Alex Veiga, AP Business Writer

For much of Wednesday, the U.S. stock market appeared to be headed for its third decline in three days.

By late afternoon, the market began to slowly pare its losses as investors bought up oil refiners, mining companies and technology stocks.

The push was enough to nudge the Standard & Poor's 500 index into the green by half a point. The tech-heavy Nasdaq composite also finished higher.

The S&P 500 index added 0.57 points, or 0.03 percent, to close at 1,868.20. The Dow Jones industrial average lost 11.17 points, or 0.1 percent, to 16,340.08.

The Nasdaq composite rebounded in the early afternoon, gaining 16.14 points, or 0.4 percent, to 4,323.33.

The three major U.S. stock indexes are still down for the week. Stocks had a strong finish last week, setting three record highs.

Investors have been worried this week about a sharp drop in China's exports in February reported over the weekend, which raised concerns that the world's second-largest economy is slowing. Since China is a big consumer of raw materials and energy, commodities such as copper and iron ore have dropped sharply. Copper has fallen to its lowest level since 2010, but recovered somewhat Wednesday.

A dearth of major U.S. economic news helped dampen trading Wednesday, leaving the market listless.

"When markets reach these kind of new highs very often they have to digest those gains, which is what they're doing," said Quincy Krosby, a market strategist with Prudential Financial. "They need to adjust the gains and then wait for the next catalyst to move higher."

That could come Thursday, when new data on retail sales and weekly unemployment benefit applications are released. On Friday, a survey of consumer confidence should give traders a better sense of how Americans feel about the economy.

The state of China's economy is sure to continue to be a focus, however.

"We've been seeing these periodic, occasional weak data points come out of China," said Randy Frederick, managing director of trading and derivatives at the Schwab Center for Financial Research. "And each time that happens when our markets are at ... record highs, they're going to be very sensitive to any sort of negative news and there'll be days of profit-taking."

While China growth concerns appeared to hurt oil prices Wednesday, it didn't stop investors from buying up oil refiners.

Tesoro Corp. rose the most of any stock in the S&P 500 index, climbing $2.13, or 4.1 percent, to $54.50. Marathon Petroleum Corp., added $3.21, or 3.5 percent, to $94.50, while Valero Energy Corp., gained $1.62, or 3 percent, to $55.29.

Investors also took a shine to mining companies as metals prices increased. Cliffs Natural Resources Inc. rose 43 cents, or 2.4 percent, to $18.41 and Newmont Mining Corp. rose 66 cents, or 2.7 percent, to $25.01.

Tech giants Google, Microsoft and Facebook also contributed to the day's gains. Together they make up about 12 percent of the Nasdaq composite. Google rose $7.31, or 0.6 percent, to $1,207.30; Microsoft added 25 cents, or 0.7 percent, to $38.27 and Facebook climbed 78 cents, or 1.1 percent, to $70.88.

Six of the 10 industry sectors in the S&P 500 index notched small declines, with industrials posting the biggest drop. Utilities paced other gainers, as investors moved money into the relatively low-risk sector.

Among the S&P 500 index's big decliners were insurer Progressive, which shed 94 cents, or 3.8 percent, to $23.58, and ADT, which fell 98 cents, or 3.3 percent, to $28.75.

Most of the publicly traded homebuilding companies were trading lower after Credit Suisse issued a broad downgrade on the sector. In addition, new data from the Mortgage Bankers Association showed home loan applications fell 2.1 percent from a week earlier. Meritage Homes posted the biggest drop among the decliners, shedding 85 cents, or 2 percent, to $44.21.

Herbalife fell $4.82, or 7.4 percent, to $60.57 after the nutrition and supplement maker disclosed that it is facing an inquiry from the Federal Trade Commission. The company made the announcement a day after hedge fund manager William Ackman renewed his attacks on the company. Ackman repeatedly has bet against the company and says he believes it operates as a pyramid scheme.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -231.19 points or ▼ -1.41% on Thursday, 13 March 2014
Symbol …........Last …......Change.......
Dow_Jones 16,108.89 ▼ -231.19 ▼ -1.41%
Nasdaq____ 4,260.42 ▼ -62.91 ▼ -1.46%
S&P_500___ 1,846.34 ▼ -21.86 ▼ -1.17%
30_Yr_Bond____ 3.60 ▼ -0.07 ▼ -1.80%

NYSE Volume 3,647,189,750
Nasdaq Volume 2,326,135,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,553.78 ▼ -67.12 ▼ -1.01%
DAX_____ 9,017.79 ▼ -170.90 ▼ -1.86%
CAC_40__ 4,250.51 ▼ -55.75 ▼ -1.29%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,429.10 ▲ 28.60 ▲ 0.53%
Shanghai_Comp 2,019.11 ▲ 21.42 ▲ 1.07%
Taiwan_Weight 8,747.79 ▲ 63.06 ▲ 0.73%
Nikkei_225___ 14,830.39 ▼ -393.72 ▼ -2.59%
Hang_Seng.__ 14,815.98 ▼ -14.41 ▼ -0.10%
Strait_Times.__ 21,756.08 ▼ -145.87 ▼ -0.67%
NZX_50_Index_ 3,081.39 ▼ -16.04 ▼ -0.52%

http://finance.yahoo.com/news/dow-posts-fourth-loss-row-210729977.html

Dow posts fourth loss in a row as US stocks slide
US stocks slide as rhetoric over Ukraine intensifies; Dow posts its fourth straight loss
Associated Press
By Alex Veiga, AP Business Writer

The Dow Jones industrial average fell more than 200 points Thursday, its biggest decline in six weeks.

The pullback came as investors reacted to discouraging economic reports from China and intensifying tensions in Ukraine.

It was the worst day for the market in six weeks and the fourth loss in a row for the Dow. The plunge was a sharp contrast to the relatively quiet trading earlier in the week following a record-setting run last week.

Stocks started the day trading slightly higher following news of a pickup in U.S. retail sales last month, but the gains didn't last.

"The data out of China has been weak. The retail sector in America seems to be a total disaster. It's enough, combined with what's going on in Ukraine, to get people a little bit nervous and sell," said Ian Winer, director of trading at Wedbush Securities.

The Dow Jones industrial average slid 231.19 points, or 1.4 percent, to 16,108.89. The S&P 500 index fell 21.86 points, or 1.2 percent, to close at 1,846.34. The Nasdaq composite dropped 62.91 points, or 1.5 percent, to 4,260.42.

The last time the market had a bigger decline was Feb. 3, when the Dow sank 326 points, or 2.1 percent.

Thursday's slide erased the S&P 500 index's gains for the year and extended the Dow's year-to-date loss to 2.8 percent. The Nasdaq is still up 2 percent so far this year.

Stocks that fell outnumbered those that rose more than two to one.

Bond prices rose as traders sought safety. The yield on the 10-year Treasury note declined to 2.65 percent from 2.73 percent a day earlier as bond prices rose.

Nine of the 10 sectors in the S&P 500 index fell. Information technology lost the most. Utilities bucked the trend, rising 0.9 percent. Investors tend to buy those stocks when they want to reduce risk and hold stable companies that pay steady dividends.

Concerns over China worsened Thursday after government figures there showed industrial production rose in the first two months of the year at a rate that was lower than analysts were expecting. Retail sales growth also fell short of estimates.

"At this stage, investors are linking these negative data points coming out of China and they don't like what they see," said Lawrence Creatura, a portfolio manager at Federated Investors. "Even small hiccups there can have large implications for investors."

The market jitters intensified later in the morning, when President Barack Obama issued remarks after meeting with Ukraine's new prime minister at the White House.

Obama said that if Russia continues an aggressive path in Ukraine, the United States and other countries will be "forced to apply costs" to Moscow.

Citizens in the Ukrainian region of Crimea are set to vote on joining Russia on Sunday. The U.S. and European Union say the referendum violates Ukraine's constitution and international law. Russia has said it will respect the results.

Secretary of State John Kerry told a Senate committee on Thursday that Moscow should expect the U.S. and Europe to take measures against it should Russia act on a vote by Crimea to join Russia.

"The hardening of the rhetoric in these communications is a change," Creatura said.

Winer said that investors weren't panicked.

"The selling is pretty complacent," he said. "This is more about how people are positioned in the market."

Several companies that provide oil and gas offshore drilling services fell Thursday.

Diamond Offshore Drilling fell $1.99, or 4.3 percent, to $44.39, while Noble Corp. shed $1.38, or 4.5 percent, to $28.98. Transocean lost $1.25, or 3.1 percent, to $39.54, and National Oilwell Varco slid $2.13, or 2.8 percent, to $75.18.

Investors received some encouraging news on the U.S. employment picture.

The government reported that applications for unemployment benefits dropped 9,000 last week to 315,000. Applications are a rough proxy for layoffs. The declines indicate companies are confident enough about the economy to keep their staffs.

A separate government report showed U.S. retail sales rose 0.3 percent in February as Americans spent more on autos, clothing and furniture.

Spending had fallen 0.6 percent in January. The increase suggests that spending has started to recover after being tempered by snowstorms and freezing temperatures that blanketed much of the country.

Among the stocks that posted gains was Plug Power Inc. The alternative energy company reported revenue jumped to $8 million as it lined up some big clients. The news sent the stock vaulting up $1.20, or 17.6 percent, to $8. The stock has been soaring in recent weeks, and traded below 50 cents a share as recently as Nov. 6.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -43.22 points or ▼ -0.27% on Friday, 14 March 2014
Symbol …........Last …......Change.......
Dow_Jones 16,065.67 ▼ -43.22 ▼ -0.27%
Nasdaq____ 4,245.40 ▼ -15.02 ▼ -0.35%
S&P_500___ 1,841.13 ▼ -5.21 ▼ -0.28%
30_Yr_Bond____ 3.59 ▼ -0.01 ▼ -0.39%

NYSE Volume 3,282,078,000
Nasdaq Volume 2,153,160,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,527.89 ▼ -25.89 ▼ -0.40%
DAX_____ 9,056.41 ▲ 38.62 ▲ 0.43%
CAC_40__ 4,216.37 ▼ -34.14 ▼ -0.80%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,347.10 ▼ -82.00 ▼ -1.51%
Shanghai_Comp 2,004.34 ▼ -14.77 ▼ -0.73%
Taiwan_Weight 8,687.63 ▼ -60.16 ▼ -0.69%
Nikkei_225___ 14,327.66 ▼ -488.32 ▼ -3.30%
Hang_Seng.__ 21,539.49 ▼ -216.59 ▼ -1.00%
Strait_Times.__ 3,073.72 ▼ -7.67 ▼ -0.25%
NZX_50_Index_ 5,079.32 ▼ -32.66 ▼ -0.64%

http://finance.yahoo.com/news/stocks-end-lower-ahead-critical-201843645.html

Stocks end lower ahead of critical Ukraine vote
US stocks end lower as investors weight tensions between the West and Russia over Ukraine
Associated Press
By Alex Veiga, AP Business Writer

Stock investors started the week worrying about China. They ended it waiting on Russia.

Investors spent much of Friday monitoring developments in the Ukraine's region of Crimea, where residents will vote Sunday on whether to secede to Russia. The U.S. and European Union have vowed to impose sanctions on Russia as early as Monday if Moscow moves to annex Crimea.

The uncertainty mostly stalled major stock indexes, which moved between small gains and losses through much of the day. Many investors took a cautious approach, turning to lower-risk stocks like utilities.

All told, the Dow Jones industrial average slid 43.22 points, or 0.3 percent, to end at 16,065.67. The Standard & Poor's 500 index fell 5.21 points, or 0.3 percent, to close at 1,841.13. The Nasdaq composite dropped 15.02 points, or 0.4 percent, to finish at 4,245.40.

Even so, the S&P 500 index ended the week down less than 2 percent from a record high reached the previous Friday. And it remains just slightly in the red for the year.

"The market is still pretty close to all-time highs. I think that speaks volumes," said Karyn Cavanaugh, a senior market strategist with ING U.S. Investment Management. "The market hasn't been rattled severely by what's been going on this week, therefore I think next week I'd probably expect a similar reaction."

In government bond trading, the yield on the 10-year Treasury note was little changed from late Thursday at 2.65 percent.

Despite the Dow posting its fifth loss in five days, the market regained some of its footing from a day earlier, when the three major indexes lost more than 1 percent — the worst day for the market in six weeks. Thursday's decline was a sharp contrast to the relatively quiet trading Monday through Wednesday.

Discussions between U.S. Secretary of State John Kerry and Russia Foreign Minister Sergei Lavrov Friday set the mood heading into the weekend. Despite six hours of talks, the two sides had "no common vision," for the crisis in Ukraine, Lavrov said.

He told reporters that Russia has no plans to invade southeastern Ukraine.

But if Crimea secedes, the U.S. and European Union plan to slap sanctions on Russian officials and businesses accused of escalating the crisis and undermining Ukraine's new government.

The impact of sanctions on Russia would likely affect the energy sector and oil in particular, said Jonathan Corpina, senior managing partner at Median Equity Partners.

"Any sanctions, if they get to that level, are going to have a major effect in all areas," he said.

Russia is the world's eighth largest economy. Its oil and gas exports make up roughly a quarter of its GDP.

Escalating tension in Ukraine is the latest development in a volatile year for the stock market. Severe winter weather has hurt corporate earnings and stoked doubts about the strength of the U.S. economy. Concerns over emerging markets battered stocks at the end of January. And in recent weeks, discouraging data on the Chinese economy have added to investors' concerns.

That's a stark shift from last year, when the market enjoyed a surge of 30 percent and slightly more, if dividends are included.

"The ride this year will be bumpier than last year," said Jim Dunigan, managing executive of investments at The PNC Financial Services Group. "Coming off a market of plus 32 percent last year, it's not surprising the difficulty to gain any traction here."

Still, Cavanaugh of ING U.S. Investment Management, said investors know that fundamentals are "solid."

She noted that corporate earnings are good at 8.5 percent growth in the fourth quarter versus a year earlier.

Beyond the action in Ukraine, investors also will have a dose of U.S. housing data and an update from Fed Chair Janet Yellen in the mix next week. Fed policymakers are expected to continue scaling back the central bank's stimulus.

On Friday several stocks posted gains.

Keurig jumped $7.09, or nearly 7 percent, to $113.25 after Starbucks said Friday that it has agreed to give up its right to be the only provider of premium coffee for Keurig's coffee brewing machines. That opens the door for Keurig to offer other high-quality coffee brands in single-serving packages.

Ulta Salon, Cosmetics & Fragrances vaulted $5.75, or 6.4 percent, to $95.26. The beauty products retailer reported a nearly 10 percent increase in its fourth-quarter profit thanks to improved sales.

Among the decliners was retailer Aeropostale, which fell $1.47, or 20 percent, to $5.83 after reporting a wider loss late Thursday. The operator of clothing stores for teenagers also warned of tough times ahead.

6675

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 181.55 points or ▲ 1.13% on Monday, 17 March 2014
Symbol …........Last …......Change.......
Dow_Jones 16,247.22 ▲ 181.55 ▲ 1.13%
Nasdaq____ 4,279.95 ▲ 34.55 ▲ 0.81%
S&P_500___ 1,858.83 ▲ 17.70 ▲ 0.96%
30_Yr_Bond____ 3.63 ▲ 0.04 ▲ 1.20%

NYSE Volume 2,844,093,000
Nasdaq Volume 1,785,853,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,568.35 ▲ 40.46 ▲ 0.62%
DAX_____ 9,180.89 ▲ 124.48 ▲ 1.37%
CAC_40__ 4,271.96 ▲ 55.59 ▲ 1.32%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,335.20 ▼ -11.90 ▼ -0.22%
Shanghai_Comp 2,023.67 ▲ 19.33 ▲ 0.96%
Taiwan_Weight 8,700.10 ▲ 12.47 ▲ 0.14%
Nikkei_225___ 14,277.67 ▼ -49.99 ▼ -0.35%
Hang_Seng.__ 21,473.95 ▼ -65.54 ▼ -0.30%
Strait_Times.__ 3,092.14 ▲ 18.42 ▲ 0.60%
NZX_50_Index_ 5,088.03 ▲ 8.70 ▲ 0.17%

http://finance.yahoo.com/news/us-stocks-jump-worries-over-173349866.html

US stocks jump as worries over Crimea vote fade
Stocks bounce back from a three-week low as factory output surges; Hertz up on spinoff report
Associated Press
By Ken Sweet, AP Markets Writer

Investors were able to put aside the ongoing political turmoil in Ukraine on Monday to focus on a bit of good news on the U.S. economy.

Stocks ended sharply higher, helped by a report that showed factory output rebounded last month.

The Dow Jones industrial average added 181.55 points, or 1.1 percent, to 16,247.22. The Standard & Poor's 500 index rose 17.70 points, or 1 percent, to 1,858.83 and the Nasdaq composite rose 34.55 points, or 0.8 percent, to 4,279.95.

The market's gains were broad. All 30 members of the Dow and all 10 industry groups of the S&P 500 rose.

Technology stocks were among the biggest gainers, led by Yahoo, which rose 4 percent. Yahoo owns a quarter of the Chinese e-commerce website AliBaba, which announced plans to go public in the U.S. While relatively unknown in the U.S., AliBaba is one of the world's most-trafficked websites in the world's second-largest economy. Yahoo rose $1.51 to $39.11.

Other tech stocks also rose, including Microsoft, Google and Amazon.

Monday's advance comes after stocks spent much of last week in retreat. The major indexes fell roughly 2 percent, their worst week since January, on concerns that the tensions between Ukraine and Russia could boil over. Those tensions are no closer to being resolved, but so far armed conflict does not appear to be in the cards.

Crimeans overwhelmingly voted Sunday in favor of Crimea breaking away from Ukraine to return to Russia. While destabilizing to Ukraine, the results were what investors and international observers widely expected. More importantly, the controversial vote, while widely considered illegitimate by the international community, happened without any major violence.

"Russia got what it wanted without having to take Crimea by force," said Sam Stovall, chief equity strategist with S&P Capital IQ.

Both the White House and the European Union announced sanctions and visa restrictions against several Russian officials as a result of the referendum. The U.S. imposed sanctions on seven Russian government officials as well as four Ukrainians, including former Ukrainian President Viktor Yanukovych. The EU slapped travel bans and asset freezes on 21 people from Russia and Crimea.

With the Crimean vote behind them, U.S. investors exited their traditional safe havens to return to riskier parts of the market. Bond prices fell, pushing the yield of 10-year Treasury note up to 2.70 percent from 2.66 percent Friday. The price of gold fell modestly.

Utilities, a popular industry sector in times of uncertainty, rose less than the rest of the market. The Dow Jones Utility Average, which tracks the performance of 15 utility companies, rose 0.7 percent on Monday versus the S&P 500's 1 percent gain.

Back in the U.S., investors got a dose of good news on economy.

The Federal Reserve said factory output rebounded in February after harsh winter storms caused a steep drop-off in January. Manufacturers produced more autos, home electronics and chemicals. The 0.6 percent rise was triple the increase that economists had expected.

"It's another small piece of evidence that the economy is beginning to thaw from the winter," said Jack Ablin, chief investment officer at BMO Private Bank, which oversees $66 billion in assets.

The Federal Reserve will hold a two-day policy meeting starting Tuesday. Investors expect the central bank to pull back further on its bond-buying economic stimulus program, as it has done for the last two meetings. The Fed will announce its decision Wednesday.

In corporate news:

”” Sears Holdings rose 83 cents, or 2 percent, to $44.84 after announcing that it planned to split off its Lands' End business.

”” Rental car company Hertz Global rose $1.24, or 5 percent, to $27.22 on reports that the company was looking to sell its construction equipment rental business.

In currency trading, the dollar rose to 6.177 Chinese yuan, up 0.4 percent from late Friday ”” a sharp move for one currency on a single day. The yuan has reversed course recently after strengthening steadily for years. Analysts believe China's central bank is guiding the exchange rate lower against the dollar in an effort to discourage speculators from moving money into the country to profit from the yuan's rise.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 88.97 points or ▲ 0.55% on Tuesday, 18 March 2014
Symbol …........Last …......Change.......
Dow_Jones 16,336.19 ▲ 88.97 ▲ 0.55%
Nasdaq____ 4,333.31 ▲ 53.36 ▲ 1.25%
S&P_500___ 1,872.25 ▲ 13.42 ▲ 0.72%
30_Yr_Bond____ 3.63 ▲ 0.00 ▼ -0.08%

NYSE Volume 2,906,063,000
Nasdaq Volume 1,929,526,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,605.28 ▲ 36.93 ▲ 0.56%
DAX_____ 9,242.55 ▲ 61.66 ▲ 0.67%
CAC_40__ 4,313.26 ▲ 41.30 ▲ 0.97%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,360.20 ▲ 25.00 ▲ 0.47%
Shanghai_Comp 2,025.20 ▲ 1.52 ▲ 0.08%
Taiwan_Weight 8,731.94 ▲ 31.84 ▲ 0.37%
Nikkei_225___ 14,411.27 ▲ 133.60 ▲ 0.94%
Hang_Seng.__ 21,583.50 ▲ 109.55 ▲ 0.51%
Strait_Times.__ 3,093.84 ▲ 1.70 ▲ 0.05%
NZX_50_Index_ 5,135.66 ▲ 47.64 ▲ 0.94%

http://finance.yahoo.com/news/stocks-gain-reports-housing-ukraine-185648999.html

Stocks gain after reports on housing, Ukraine
Stocks rise after encouraging reports on housing, Ukraine; Microsoft jumps
Associated Press
By Steve Rothwell and Matt Craft, AP Markets Writers

Encouraging news on the economy gave the stock market a boost on Tuesday.

Stocks also rose on expectations that the conflict between Russia and the West wouldn't escalate further. Russia's President Vladimir Putin is preparing to complete the annexation of the Black Sea peninsula of Crimea, but he said Tuesday that he won't take over other areas of Ukraine.

The stock market is recovering this week after logging its biggest weekly drop in almost two months. The S&P 500 has gained 1.7 percent this week after dropping almost 2 percent last week on concerns about slowing growth in China and tensions between Russia and the West over Ukraine.

The annexation of Crimea "is a horrible thing for the world in the long term," said Uri Landesman, president of Platinum Partners. "But the market doesn't want unrest."

The Standard & Poor's 500 index rose 13.42 points, or 0.7 percent, to 1,872.25. The Dow Jones industrial average rose 88.97 points, or 0.6 percent, to 16,336.19. The Nasdaq composite climbed 53.36 points, or 1.3 percent, to 4,333.31.

The stock market also got a boost from two technology companies.

Microsoft jumped after Reuters reported that CEO Satya Nadella plans to use his first big press event March 27 to unveil an iPad version of the company's Office software suite. Analysts regard this as a first step for Nadella in repositioning Microsoft as a company that focuses on mobile devices rather than the shrinking market for personal computers.

The company's stock climbed $1.50, or 3.9 percent, to $39.55, its highest level since July, 2000.

Hewlett-Packard rose $1.08, or 3.7 percent, to $30.56 after analysts at Barclays upgraded their outlook on the hardware company and raised their price target on the stock to $38 from $33. They expect HP to return more cash to shareholders and gain market share in the server business from rivals in coming months.

Stocks opened higher after Putin told the Russian Parliament not to believe those who say that the country will look to take over other areas of Ukraine.

The stock market also got a lift from a report that showed inflation remains tame, despite a big rise in the cost of food.

The consumer price index rose 0.1 percent in February, matching January's increase, the Labor Department said Tuesday. In the past 12 months, prices have risen just 1.1 percent, the smallest yearly gain in five months.

That means that the Federal Reserve can continue to provide stimulus to the economy and focus on reducing unemployment and boosting economic growth without having to worry that its policies are stoking inflation.

Fed policymakers started their second meeting of the year on Tuesday. The meeting will end Wednesday and be followed by an early afternoon press conference by Fed Chair Janet Chairman. Most analysts expect the Fed to continue to reduce its economic stimulus by cutting back on its bond purchases. The Fed is currently buying $65 billion of bonds a month to hold down long term interest rates.

Investors were also encouraged by a government report on home building.

While construction of homes fell for a third month in February, the report also showed that applications for building permits reached the highest level in four months. That raised expectations that economic growth would improve in the spring after an unusually cold winter slowed down the pace of home building, said Joe Quinlan, chief market strategist for U.S. Trust.

"Many people in the market fell that were going to get a spring rebound, or snap back, from a sluggish first quarter," said Quinlan.

Home builders rose after the report was released.

Beazer Homes USA rose 52 cents, or 2.6 percent, to $20.57 and Ryland Group rose $1.23, or 3.1 percent, to $41.40. D.R. Horton, PulteGroup and Lennar also rose.

In government bond trading, the yield on the 10-year Treasury note fell to 2.67 percent from 2.69 percent. The price of oil rose $1.62, or 1.7 percent, to $99.70 a barrel. Gold fell $13.90, or 1 percent, to settle at $1,359 an ounce.

Among other stocks making big moves;

”” Nasdaq OMX Group and IntercontinentalExchange Group slid following news that the New York Attorney General, Eric Schneiderman, was taking a closer look at services offered by stock exchanges to high-frequency traders. Schneiderman said that when exchanges allow trading firms to put their computers within the exchanges' data centers, it gives these firms an unfair advantage. Nasdaq OMX lost $1.23, or 3.1 percent, to $38.50. ICE lost $3.22, or 1.5 percent, to $205.94.

”” GameStop fell $1.36, or 3.4 percent, to $38.39 after Wal-Mart said it plans to let video game owners trade in used games in Wal-Mart and Sam's Club stores in exchange for store credit. Previously they offered trade-ins on a more limited basis online.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -114.02 points or ▼ -0.70% on Wednesday, 19 March 2014
Symbol …........Last …......Change.......
Dow_Jones 16,222.17 ▼ -114.02 ▼ -0.70%
Nasdaq____ 4,307.60 ▼ -25.71 ▼ -0.59%
S&P_500___ 1,860.77 ▼ -11.48 ▼ -0.61%
30_Yr_Bond____ 3.67 ▲ 0.04 ▲ 1.19%

NYSE Volume 3,259,634,000
Nasdaq Volume 1,960,355,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,576.22 ▼ -29.06 ▼ -0.44%
DAX_____ 9,277.05 ▲ 34.50 ▲ 0.37%
CAC_40__ 4,308.06 ▼ -5.20 ▼ -0.12%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,373.00 ▲ 12.80 ▲ 0.24%
Shanghai_Comp 2,021.73 ▼ -3.46 ▼ -0.17%
Taiwan_Weight 8,689.46 ▼ -42.48 ▼ -0.49%
Nikkei_225___ 14,462.52 ▲ 51.25 ▲ 0.36%
Hang_Seng.__ 21,568.69 ▼ -14.81 ▼ -0.07%
Strait_Times.__ 3,080.75 ▼ -13.09 ▼ -0.42%
NZX_50_Index_ 5,154.71 ▲ 19.05 ▲ 0.37%

http://finance.yahoo.com/news/higher-interest-rates-talk-spooks-210025772.html

Higher interest rates talk spooks stocks
Stocks end lower on talk of higher interest rates; KB Home lifts homebuilders
Associated Press
By Ken Sweet, AP Markets Writer

Higher interest rates are coming. And they are coming sooner than you think.

That's the message investors took away from the Federal Reserve on Wednesday. In response, they sent stocks and gold prices lower and bond yields sharply higher.

The Dow Jones industrial average lost 114.02 points, or 0.7 percent, to 16,222.17. The Dow fell as much as 209 points before erasing some of its loss.

The Standard & Poor's 500 index dropped 11.48 points, or 0.6 percent, to 1,860.77 and the Nasdaq composite lost 25.71 points, or 0.6 percent, to 4,307.60.

The Fed voted to cut its monthly bond purchases from $65 billion to $55 billion, in line with what analysts were expecting. Despite severe winter weather in January and February, the Fed said economy had recovered enough for it to continue reducing the bond buys, which are aimed at keeping long-term interest rates low.

The Federal Reserve also said the vast majority of its policymakers believed it would be appropriate for the central bank to raise short-term interest rates starting in 2015. The Federal Funds rate, traditionally the Fed's main tool for regulating the health of the economy, has been near zero since late 2008.

Investors have grown used to an easy-money policy from the Fed for more than five years now. Higher interest rates would mean the economy is improving, but it also raises the cost of borrowing money for everyone, from companies borrowing to expand their businesses to consumers looking at a mortgage. At the same time, if the Fed kept interest rates for too low for too long it could cause the U.S. economy to overheat and experience inflation.

"We think they are acknowledging for the first time that short-term rates will rise in the future," Chris Rupkey, chief financial economist with Bank of Tokyo-Mitsubishi UFJ, wrote in an e-mail to clients. "And that future is not that far away. A normal economy will need a normal interest rate."

Traders were also confused after newly appointed Fed Chair Janet Yellen implied that the Fed's time frame for raising interest rates was closer to the first half of 2015, sooner than many had expected.

At a press conference, Yellen was asked how much time would need to pass between when the Fed ends its bond-buying program ”” which is expected to end in the second half of 2014 ”” and when the Fed would raise interest rates. Yellen responded that the Fed could consider raising interest rates in "six months or that type of thing" from when the bond-buying program would end.

A timetable of six months was much sooner than investors had predicted. So whether or not Yellen meant the "six months" as a definitive timetable or a rough estimate based upon where the economy might be in a year, the market took Yellen at her word, strategists said. Stock and bond prices steepened in their decline after she made her comments.

"It creates a haze of uncertainty," said Andres Garcia-Amaya, global market strategist with J.P. Morgan Funds. "As we get closer to 2015, we should expect more volatility like this."

The reaction to Yellen's remarks and the Fed's announcements was far more noticeable in the bond market.

The yield of the 10-year U.S. Treasury note, a benchmark for many kinds of loans including mortgages, rose to 2.77 percent from 2.67 percent Tuesday, a large move. The sell-off was even more pronounced in two-year and five-year Treasury notes. The yield on the two-year note jumped to 0.42 percent from 0.35 percent and the five-year note's yield rose to 1.7 percent from 1.54 percent.

The U.S. dollar had its biggest one-day gain since August 2013 and gold had its worst day since December. In afterhours trading, gold was down $28.20, or 2 percent, to $1,330.80 an ounce.

Financial stocks did better than the rest of the market. Citigroup rose 80 cents, or 1.7 percent, to $48.94 and Bank of America rose 25 cents, or 1.5 percent, to $17.44. Banks, in particular big commercial lenders like Citi, benefit from higher interest rates because they can charge more for loans and credit card balances.

In company news:

”” KB Home, one of the nation's largest homebuilders, jumped $1.04, or 6 percent, to $18.72 after the company reported much higher profits than investors were expecting. KB earned 12 cents a share, four cents more than analysts had forecast. The company also said the average selling price of a new home rose 12 percent from last year. Other homebuilders such as D.R. Horton and PulteGroup also rose.

”” Technology giant Oracle fell 29 cents, or 0.7 percent, to $38.55. The database software maker reported a slight rise in revenue and profits from a year ago, but the results came in short of analysts' predictions. Oracle's results also dragged down IBM, SAP and Microsoft.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 108.88 points or ▲ 0.67% on Thursday, 20 March 2014
Symbol …........Last …......Change.......
Dow_Jones 16,331.05 ▲ 108.88 ▲ 0.67%
Nasdaq____ 4,319.29 ▲ 11.68 ▲ 0.27%
S&P_500___ 1,872.01 ▲ 11.24 ▲ 0.60%
30_Yr_Bond____ 3.66 ▼ -0.01 ▼ -0.27%

NYSE Volume 3,345,197,000
Nasdaq Volume 1,822,649,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,542.44 ▼ -30.69 ▼ -0.47%
DAX_____ 9,296.12 ▲ 19.07 ▲ 0.21%
CAC_40__ 4,327.91 ▲ 19.85 ▲ 0.46%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,312.70 ▼ -60.30 ▼ -1.12%
Shanghai_Comp 1,993.48 ▼ -28.26 ▼ -1.40%
Taiwan_Weight 8,597.33 ▼ -92.13 ▼ -1.06%
Nikkei_225___ 14,224.23 ▼ -238.29 ▼ -1.65%
Hang_Seng.__ 21,182.16 ▼ -386.53 ▼ -1.79%
Strait_Times.__ 3,057.14 ▼ -23.61 ▼ -0.77%
NZX_50_Index_ 5,160.39 ▲ 5.68 ▲ 0.11%

http://finance.yahoo.com/news/bette...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

Better news on the US economy drives stocks higher
Signs of a spring thaw in economy drive US stocks higher; Microsoft gains on tablet hopes
Associated Press
By Steve Rothwell, AP Markets Writer

The stock market got a bounce on the first day of spring.

Signs that the U.S. economy is emerging from a winter chill drove major stock indexes higher Thursday. Investors were encouraged by an increase in manufacturing and a rise in a key index of economic indicators.

The market had slumped the day before, when Federal Reserve Chair Janet Yellen suggested that the central bank could start raising interest rates sooner than many investors had expected.

"The economy is likely to have a good bounce in the springtime," said Peter Cardillo, chief market economist at Rockwell Global Capital. "The market is reacting to the good economic news."

The Standard & Poor's 500 index rose 11.24 points, or 0.6 percent, to 1,872.01. The Dow Jones industrial average gained 108.88 points, or 0.7 percent, to 16,331.05. The Nasdaq composite climbed 11.68 points, or 0.3 percent, to 4,319.29.

The S&P 500 came within a fraction of a point of wiping out all of its losses from a day earlier, when it dropped 11.48 points.

Stocks started the day lower, extending their losses from Wednesday, as investors mulled comments the day before from Yellen, who set the stage for a possible interest rate hike by the middle of next year. The Fed on Wednesday also dropped its previous position of saying it would consider raising interest rates once the unemployment rate declined to 6.5 percent. Unemployment is currently 6.7 percent.

Higher interest rates could slow the economy by raising the cost of borrowing money. That could hold companies back from borrowing to expand their businesses or discourage consumers from taking out loans such as mortgages. At the same time, a decision by the Fed to raise rates would indicate the central bank thinks the economy is getting stronger.

The market turned higher in midmorning trading following news that a measure of the U.S. economy's health rose in February by the largest amount in three months. That suggests growth will accelerate following a severe winter.

The Conference Board's index of leading indicators increased 0.5 percent following a slight 0.1 percent rise in January and a 0.1 percent decline in December.

The Federal Reserve Bank of Philadelphia said separately that manufacturing rebounded in that region in March as new orders increased.

Microsoft was among the big gainers on Thursday. The software company's stock climbed $1.06, or 2.7 percent, to $40.33 after analysts at Morgan Stanley said a rumored plan to make a version of its Office software available for iPad devices could generate $1.2 billion in annual revenue.

3-D printing companies were among the losers after ExOne reported a fourth quarter loss late Wednesday and said its revenue fell. ExOne slid $4.35, or 10 percent, to $39.40. Other 3D-printer companies, including Stratasys and 3D Systems, also fell.

Stocks have become more volatile this year as Fed policy makers have started reducing their economic stimulus, and investors have fretted whether the economy is strong enough to maintain its recovery without the central bank's support.

The stock market is in the sixth year of a bull market and has risen 172 percent since March 2009. That rise has been aided by the Fed's stimulus, which has strengthened the economy by keeping interest rates low.

As the Fed cuts back on stimulus, investors are splitting into roughly two camps, said Omar Aguilar, Chief Investment Officer at Charles Schwab.

"You have those that believe that the only reason the market has gone up for the last five years is because of the stimulus program ... that is clearly coming to an end," said Aguilar. "Other investors think that the economy is in good shape."

Bond prices were little changed a day after the Fed announced it would make further reductions to its bond-buying program. The yield on the 10-year government was unchanged from Wednesday at 2.77 percent.

The price of crude oil fell 94 cents, or 0.9 percent, to $99.43 a barrel. Gold dropped $10.80, or 0.8 percent, to $1,330.50 an ounce

Among other stocks making big moves:

”” ConAgra Foods rose 40 cents, or 1.4 percent, to $29.99 after the company said its latest quarterly earnings nearly doubled. It continues to benefit from the acquisition of private-label food maker Ralcorp.

”” Guess slumped 98 cents, or 3.4 percent, to $27.78 after the apparel maker reported lower quarterly income and predicted a loss for the current period.

”” Q2, a provider of online banking platforms to community banks, surged on its first day of trading on the New York Stock Exchange. The stock rose $2.17, or 16.7 percent, to $15.17.