NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 40.71 points or ▲ 0.25% on Monday, 21 April 2014
Symbol …........Last …......Change.......
Dow_Jones 16,449.25 ▲ 40.71 ▲ 0.25%
Nasdaq____ 4,121.55 ▲ 26.03 ▲ 0.64%
S&P_500___ 1,871.89 ▲ 7.04 ▲ 0.38%
30_Yr_Bond____ 3.53 ▲ 0.01 ▲ 0.23%

NYSE Volume 2,616,088,750
Nasdaq Volume 1,510,769,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,625.25 ▲ 41.08 ▲ 0.62% HOLIDAY APRIL 21
DAX_____ 9,409.71 ▲ 91.89 ▲ 0.99% HOLIDAY APRIL 21
CAC_40__ 4,431.81 ▲ 26.15 ▲ 0.59% HOLIDAY APRIL 21

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,444.80 ▲ 32.20 ▲ 0.59% HOLIDAY APRIL 21
Shanghai_Comp 2,065.83 ▼ -31.92 ▼ -1.52%
Taiwan_Weight 8,951.19 ▼ -15.47 ▼ -0.17%
Nikkei_225___ 14,512.38 ▼ -3.89 ▼ -0.03%
Hang_Seng.__ 22,760.24 ▲ 64.23 ▲ 0.28% HOLIDAY APRIL 21
Strait_Times.__ 3,255.83 ▲ 2.63 ▲ 0.08% HOLIDAY APRIL 21
NZX_50_Index_ 5,103.35 ▲ 12.80 ▲ 0.25% HOLIDAY APRIL 21

Stocks log longest winning streak in six months

Stocks log longest winning streak in six months at the start of big week for company earnings
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The stock market logged its longest winning streak in six months Monday as another big week for company earnings began.

Halliburton, an oil and gas drilling company, rose after reporting a first-quarter profit on rising revenue in the Middle East and Asia. Toymaker Hasbro gained after saying it returned to profitability in its first quarter. A strong earnings report from Netflix pushed the company's stock higher in after-hours trading.

Close to a third of the companies in the Standard & Poor's 500 index are scheduled to report first-quarter earnings this week, giving investors a better picture about the outlook for demand after the economy's winter slump. Stocks logged their best weekly gain since July last week as companies started reporting their earnings.

"I like what I see in the market," said Karyn Cavanaugh, a senior market strategist with ING U.S. Investment Management. "It's all going to be about earnings, because earnings are the driver of the market in the long run."

The S&P 500 index rose 7.04 points, or 0.4 percent, to 1,871.89. The index has risen five straight days, its longest streak of gains since October.

The Dow Jones industrial average climbed 40.71 points, or 0.3 percent, to 16,449.25. The Nasdaq composite gained 26.03 points, or 0.6 percent, to 4,121.55.

Halliburton rose $2.02, or 3 percent, to $62.92 after the company turned a profit in the first quarter following a loss in the same period a year ago. Last year the company set aside money for litigation over the 2010 Gulf of Mexico oil spill. Hasbro rose $1.05, or 1.9 percent, to $55.66 after its earnings came in higher than investors were expecting, driven by sales of girls' toys such as My Little Pony and Nerf Rebelle.

Stocks also got a lift from an encouraging economic report.

An index designed to predict future economic growth rose in March for the third month in a row, an encouraging sign after harsh winter weather slowed down the U.S. economy. The Conference Board said Monday that its index of leading indicators increased 0.8 percent in March after a 0.5 percent rise in February and a modest 0.2 percent gain in January.

"The data are suggesting that we will gain economic momentum," said Quincy Krosby, a market strategist at Prudential Financial. "There is a sense, more and more, that the economy won't run into another soft patch this year."

Reports of a potential merger also boosted the market.

Newmont Mining jumped $1.42, or 6 percent, to $24.95 following reports that the mining company was considering a merger with Barrick Gold. The two companies are seeking to cut costs after a slump in metals prices.

Allergan, which makes the anti-wrinkle treatment Botox, surged in after-hours trading on news that the activist investor William Ackman was teaming up with Valeant Pharmaceuticals to buy the company. Allergan's stock jumped $28, or 20 percent, to $170.

This week though, investors' focus will largely be on corporate earnings.

McDonald's, Delta Air Lines and Apple are among the 159 companies in the S&P 500 that are scheduled to report earnings this week. Together, the companies represent about a third of the value of the index.

After an unusually harsh winter, Wall Street's expectations for earnings are relatively low. So far, most companies are exceeding them.

S&P 500 companies are forecast to report an overall 1.1 percent decline in earnings for the period, according to data from S&P Capital IQ. If that forecast holds, it would mark the first decline in corporate earnings since the third quarter of 2009, when earnings fell 1.7 percent. About two-thirds of the companies that have reported earnings so far have exceeded analysts' expectations.

Stocks have stabilized over the last week after a volatile start to the month, when a sell-off in high-flying technology and biotechnology stocks pushed the overall market lower. The S&P 500 climbed 2.7 percent last week, recovering its loss from a week earlier.

Bond prices were little changed. The yield on the 10-year Treasury note edged down to 2.71 percent from 2.72 percent.

Among other stocks making big moves:

”” Athenahealth, a provider of online health-record services, slumped $9.99, or 7 percent, to $135.59 after the company reported earnings that fell short of analysts' estimates.

”” Netflix rose $20.10, or 6 percent, to $368.30 in after-hours trading after the online video streaming company said its first-quarter earnings soared as another season of the popular political drama "House of Cards" helped attract an additional 2.25 million subscribers.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 65.12 points or ▲ 0.40% on Tuesday, 22 April 2014
Symbol …........Last …......Change.......
Dow_Jones 16,514.37 ▲ 65.12 ▲ 0.40%
Nasdaq____ 4,161.46 ▲ 39.91 ▲ 0.97%
S&P_500___ 1,879.55 ▲ 7.66 ▲ 0.41%
30_Yr_Bond____ 3.50 ▼ -0.02 ▼ -0.62%

NYSE Volume 3,193,497,500
Nasdaq Volume 1,825,039,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,681.76 ▲ 56.51 ▲ 0.85%
DAX_____ 9,600.09 ▲ 190.38 ▲ 2.02%
CAC_40__ 4,484.21 ▲ 52.40 ▲ 1.18%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,467.10 ▲ 22.30 ▲ 0.41%
Shanghai_Comp 2,072.83 ▲ 7.00 ▲ 0.34%
Taiwan_Weight 8,974.71 ▲ 23.52 ▲ 0.26%
Nikkei_225___ 14,388.77 ▼ -123.61 ▼ -0.85%
Hang_Seng.__ 22,730.68 ▼ -29.56 ▼ -0.13%
Strait_Times.__ 3,277.53 ▲ 21.70 ▲ 0.67%
NZX_50_Index_ 5,104.94 ▲ 1.59 ▲ 0.03%

http://finance.yahoo.com/news/earnings-corporate-deals-lift-us-172930946.html

Earnings and corporate deals lift US stocks

Stock market pushed higher by corporate deal news and solid earnings; Allergan, Netflix jump
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Corporate deals and some solid earnings reports propelled the stock market to its sixth straight gain Tuesday.

Allergan surged after Valeant Pharmaceuticals said it had teamed up with activist investor Bill Ackman to make a bid for the Botox maker. Netflix and Harley-Davidson rose sharply after reporting earnings that beat analyst's expectations.

Stocks are rebounding from a slump earlier this month when investors dumped high-flying biotechnology and Internet stocks. The gains over the past week have been driven by a combination of better economic news and respectable, if not spectacular, earnings reports.

"We were definitely oversold, there's no question about that," said Phil Orlando, chief equity strategist at Federated Investors. "Earnings, by and large, haven't been worse than we thought and the economic news has actually been a little better."

The Standard & Poor's 500 index rose 7.66 points, or 0.4 percent, to 1,879.55. The six consecutive gains in the index marks the longest winning streak since September.

The Dow Jones industrial average climbed 65.12 points, or 0.4 percent, to 16,514.37. The Nasdaq composite gained 39.91 points, or 1 percent, to 4,161.46.

Allergan rose the most in the S&P 500, climbing $21.65, or 15.2 percent, to $163.65. Health care stocks rose 1.04 percent, the biggest gain of the 10 sectors that make up the S&P 500 index.

There was also deal news in the health care industry from Europe. Swiss pharmaceutical maker Novartis AG unveiled a series of multibillion-dollar deals with Britain's GlaxoSmithKline PLC and the U.S.'s Eli Lilly & Co.

The announcements helped drive some speculative buying.

"Whenever there are mergers, people start looking for other potential merger candidates," said John Carey, a portfolio manager at Pioneer Investments. "So it usually drives some other stocks up."

Overall, first-quarter earnings at S&P 500 companies are expected to fall 0.8 percent in the first quarter compared with the same period a year earlier, and growth of almost 8 percent in the fourth quarter, according to S&P Capital IQ data.

While that would be the first decline in earnings since the third quarter of 2009, analysts had been expecting worse. So far, about 65 percent of companies that have reported their earnings have exceeded analysts' forecasts.

"It is a familiar dance," said Federated's Orlando. "Managements have gotten very adept at doing this: lowering the bar and essentially engineering a modest positive surprise."

The consumer discretionary sector had the second-biggest gain Tuesday after some good earnings reports.

Harley-Davidson jumped $4.33, or 6.4 percent, to $71.87 after reporting that its first-quarter earnings rose nearly 19 percent. Motorcycle sales grew 5.8 percent worldwide and efficiency efforts took hold.

Netflix climbed $24.41, or 7 percent, to $372.90 after the online video streaming service said late Monday that its first-quarter earnings soared. Another season of the popular political drama "House of Cards" helped attract an additional 2.25 million subscribers.

Investors even found something to like in a weak report on home sales.

Sales of existing U.S. homes slipped in March to their lowest level since July 2012 as rising prices and a tight supply of available homes discouraged many would-be buyers. The National Association of Realtors says sales edged down 0.2 percent to a seasonally adjusted annual rate of 4.59 million.

While it was the seventh drop in the past eight months, the decline was less than economists had forecast.

In government bond trading, prices were little changed. The yield on the 10-year Treasury note was unchanged at 2.72 percent from late Monday.

Among other stocks making big moves:

”” Facebook rose $1.79, or 2.9 percent, to $63.03. Analysts at Credit Suisse raised their target price for the stock because they believe that the social media company will be able to boost its revenue with new services.

”” Pentair slumped $5.53, or 6.9 percent, to $74.95 after the flow-control company posted an unexpected decline in revenue. Pentair's revenue fell 3 percent and revenue at its largest division, valves and controls, dropped 9 percent compared to last year. Pentair said weaker sales to the energy industry were the main reason for that decline.

”” Omnicom fell $1.62, or 2.3 percent, to $69.87 after the advertising company's CEO said that the timing of a proposed $35 billion merger with France's Publicis Groupe SA remains unclear nine months after the deal was announced.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -12.72 points or ▼ -0.08% on Wednesday, 23 April 2014
Symbol …........Last …......Change.......
Dow_Jones 16,501.65 ▼ -12.72 ▼ -0.08%
Nasdaq____ 4,126.97 ▼ -34.49 ▼ -0.83%
S&P_500___ 1,875.39 ▼ -4.16 ▼ -0.22%
30_Yr_Bond____ 3.47 ▼ -0.03 ▼ -0.97%

NYSE Volume 3,064,543,000
Nasdaq Volume 1,744,017,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,674.74 ▼ -7.02 ▼ -0.11%
DAX_____ 9,544.19 ▼ -55.90 ▼ -0.58%
CAC_40__ 4,451.08 ▼ -33.13 ▼ -0.74%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,502.20 ▲ 35.10 ▲ 0.64%
Shanghai_Comp 2,067.38 ▼ -5.45 ▼ -0.26%
Taiwan_Weight 8,956.92 ▼ -17.79 ▼ -0.20%
Nikkei_225___ 14,546.27 ▲ 157.50 ▲ 1.09%
Hang_Seng.__ 22,509.64 ▼ -221.04 ▼ -0.97%
Strait_Times.__ 3,258.01 ▼ -19.52 ▼ -0.60%
NZX_50_Index_ 5,142.92 ▲ 37.98 ▲ 0.74%

http://finance.yahoo.com/news/us-stocks-edge-lower-six-162143274.html

US stocks edge lower after a six-day rise

Stocks fall slightly after a six-day rise; Intuitive Surgical, other biotechnology stocks fall
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- Stocks edged mostly lower Wednesday, breaking a six-day winning streak, as investors were disappointed by the latest round of earnings from U.S. companies.

A surprise drop in new home sales also weighed on the broader market.

The Standard & Poor's 500 index lost 4.16 points, or 0.2 percent, to 1,875.39. The Dow Jones industrial average lost 12.72 points, or 0.1 percent, to 16,501.65 and the Nasdaq composite fell 34.49 points, or 0.8 percent, to 4,126.97.

Since hitting a two-month low on April 11, the index had increased 3.5 percent through Tuesday. It is not unusual for the stock market to pause after such a rally.

"The market, even with those six days of gains, is still struggling to choose a direction," said Joseph Tanious, a global market strategist with J.P. Morgan Funds.

High-flying biotechnology and Internet stocks were among the hardest hit.

Surgical robot maker Intuitive Surgical fell the most in the S&P 500, plunging $48.40, or 12 percent, to $373.93. The company reported a 77 percent drop in first-quarter earnings and sold half has many robots as it did in the same period a year earlier. The company warned two weeks ago that earnings would come in far below expectations, causing its stock to fall sharply from a recent high of $540.63 reached April 3.

Amgen fell 5 percent after it also reported a steep drop in quarterly earnings, missing analysts' expectations.

One bright spot in biotechnology was Gilead Sciences. The drugmaker rose $1, or 1.4 percent, to $73.86 after the company reported a surge in first-quarter earnings. Gilead's drug Sovaldi, a new treatment for Hepatitis C, had $2.3 billion in sales in the first quarter alone, which beat the record for any drug in its first whole year on the market. While Sovaldi has a 90 percent success rate in curing Hepatitis C, the drug has a price of $1,000 per pill, or around $84,000 for a typical course of treatment.

AT&T, despite posting quarterly results that beat analysts' expectations, wasn't able to impress investors this quarter. The Dow member's shares fell $1.37, or 4 percent, to $34.92. The company reported earnings of 71 cents a share, one cent ahead of analysts' expectations, and quarterly sales of $32.48 billion, which also beat expectations.

Other telecom stocks also fell. Verizon fell 49 cents, or 1 percent, to $47.43 while T-Mobile US lost $1.28, or 3.8 percent, to $29.81.

Airline stocks were among the biggest advancers. Delta Air Lines rose $2.14, or 6 percent, to $37.09. Delta's first-quarter earnings climbed after the company filled more seats on planes and paid less for fuel. Delta was the biggest gainer in the S&P 500.

Plane maker Boeing rose $3.08, or 2.4 percent, to $130.63. Its quarterly earnings beat expectations as its commercial jet production increased.

U.S. company earnings have been generally coming in better than what investors had expected. But expectations are low this quarter, investors said, because the harsh winter earlier this year slowed business activity across the country. Earnings in the S&P 500 are expected to be down 1.5 percent from a year ago, according to FactSet.

"When you set the bar so low, U.S. companies are able to walk right over them," Tanious said.

In other company news:

”” Apple jumped $43.91, or 8 percent, to $568.43 in after-hours trading. The technology giant reported a profit of $10.2 billion, or $11.62 a share, beating analysts' forecast of a profit of $10.19 a share. The company also announced it would increase its share buyback program from $60 billion to $90 billion, raised its quarterly dividend to $3.29 a share, and also announced a seven-for-one stock split.

”” Facebook reported a profit of 34 cents a share, well ahead of the 24 cents per share analysts had expected. Facebook shares rose $1.74, or 3 percent, to $63.10 in aftermarket trading.

”” Netflix sank $19.40, or 5 percent, to $353.50. Time Warner and Amazon.com announced that HBO's award-winning shows such as "The Sopranos" and "Six Feet Under" would be available exclusively for Amazon Prime subscribers, a big loss for Netflix. HBO had been one of the biggest holdouts in bringing its content to streaming video services. Time Warner rose $1.08, or 2 percent, to $66.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 0 points or ▲ 0.00% on Thursday, 24 April 2014
Symbol …........Last …......Change.......
Dow_Jones 16,501.65 ▲ 0.00 ▲ 0.00%
Nasdaq____ 4,148.34 ▲ 21.37 ▲ 0.52%
S&P_500___ 1,878.61 ▲ 3.22 ▲ 0.17%
30_Yr_Bond____ 3.46 ▲ 0.00 ▼ -0.14%

NYSE Volume 3,158,577,250
Nasdaq Volume 2,105,267,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,703.00 ▲ 28.26 ▲ 0.42%
DAX_____ 9,548.68 ▲ 4.49 ▲ 0.05%
CAC_40__ 4,479.54 ▲ 28.46 ▲ 0.64%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,515.50 ▲ 13.30 ▲ 0.24%
Shanghai_Comp 2,057.03 ▼ -10.35 ▼ -0.50%
Taiwan_Weight 8,945.45 ▼ -11.47 ▼ -0.13%
Nikkei_225___ 14,404.99 ▼ -141.28 ▼ -0.97%
Hang_Seng.__ 22,562.80 ▲ 53.16 ▲ 0.24%
Strait_Times.__ 3,283.93 ▲ 25.92 ▲ 0.80%
NZX_50_Index_ 5,153.96 ▲ 11.04 ▲ 0.21%

http://finance.yahoo.com/news/stocks-close-mostly-higher-earnings-202810982.html

Stocks close mostly higher on earnings; Apple up

Stocks mostly higher in choppy trading as companies report better earnings; Apple gains
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- The stock market closed mostly higher Thursday, helped by positive earnings out of several large U.S. companies including Apple and construction equipment maker Caterpillar.

The markets gains were modest, however, as investors turned their eyes back to Russia and Ukraine, where geopolitical tensions were heating up once again. Some earnings reports, such as 3M and Facebook, also failed to impress investors.

It was the seventh time in the last eight days that the S&P 500 has closed higher. Despite the recent upward momentum, traders remain nervous.

"Everyone is a little apprehensive as we move higher, waiting for the next shoe to drop that's going to make the market head lower," said Jonathan Corpina, a floor trader at the New York Stock Exchange with Meridian Equity Partners. "The market isn't in a healthy mentality at the moment."

The Standard & Poor's 500 index rose 3.22 points, or 0.2 percent, to 1,878.61 and the Nasdaq composite rose 21.37 points, or 0.5 percent, to 4,148.34.

The Dow Jones industrial average closed at 16,501.65, unchanged on the day. The last time the Dow closed flat was Dec. 24, 2001.

Apple was among the biggest gainers in the S&P 500 and helped push the Nasdaq composite up more than the rest of the broader market.

Apple rose $43.02, or 8 percent, to $567.77 after the California-based company reported a profit of $11.62 a share, beating forecasts. Apple also announced it would increase its share buyback program from $60 billion to $90 billion, raise its quarterly dividend, and split its stock seven-for-one.

Dow member Caterpillar rose $1.90, or 2 percent, to $105.28. The construction equipment manufacturer said its quarterly earnings rose 5 percent from a year ago. Caterpillar also raised is 2014 profit forecast. The company earned an adjusted profit of $1.61 a share, well ahead of the $1.21 per share expected by analysts.

Another Dow member, 3M, wasn't as fortunate in the first quarter as Caterpillar was.

The maker of industrial coatings and Post-it notes fell $1.34, or 1 percent, to $136.65 after the company's results missed analysts' expectations. The Minnesota-based conglomerate earned $1.79 a share, a penny shy of forecasts. Revenue also came in short of expectations.

Despite the mostly positive news from U.S. companies, overseas worries put a damper on the market.

Russian officials said they would hold new military exercises along the Ukrainian border, hours after Ukrainian troops killed at least two pro-Russia insurgents in eastern Ukraine. Russian President Vladimir Putin described the Ukrainian attack as a "punitive operation" and threatened Kiev with unspecified consequences. The Russia-Ukraine conflict has been relatively quiet for the last couple of weeks, so the recent increase in tensions has made some investors nervous.

Tom di Galoma, who runs fixed-income trading for ED&F Man Capital, said the Ukraine-Russia conflict was sending some investors into safer assets, such as U.S. Treasurys and gold.

The yield on 10-year U.S. Treasury note fell 2.68 percent as bond prices rose. Gold rose $6, or 0.5 percent, to $1.290.60 an ounce.

"One day we think there's a resolution, and the next the situation out of Ukraine and Russia turns a little alarming," Corpina said.

Investors were also working through another batch of economic reports. Orders to U.S. factories for long-lasting manufactured goods rose 2.6 percent, adding to the 2.1 percent rise in February. The back-to-back gains followed two big declines in December and January, which had raised concerns about possible weakness in manufacturing, The earlier declines, however, were likely tied to bad winter weather.

On the jobs front, the number of people seeking U.S. unemployment benefits jumped 24,000 to a seasonally adjusted 329,000 last week, though the gain likely reflected temporary layoffs in the week before Easter.

In other company news:

”” Facebook fell 49 cents, or 1 percent, to $60.87, despite reporting profit and sales that handedly beat forecasts. The social media giant earned an adjusted profit of 34 cents a share compared to analysts' estimates of 24 cents a share.

”” Microsoft rose 99 cents, or 2.5 percent, to $40.90 in afterhours trading, after reporting a profit that beat analysts' expectations. The software giant earned 68 cents a share, compared with the 63 cents analysts were looking for.

”” Amazon rose $9.04, or 2.7 percent, to $346.00 in aftermarket hours. The online retail giant posted a profit of 23 cents a share, two cents better than analysts' expectations.

”” Zimmer Holdings soared $10.52, or 12 percent, to $101.97 after announcing it would buy the privately held orthopedic device company Biomet for $13.35 billion in cash and stock. Biomet was taken private in 2007 by a group of private equity companies, and was looking to go public later this year.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -140.19 points or ▼ -0.85% on Friday, 25 April 2014
Symbol …........Last …......Change.......
Dow_Jones 16,361.46 ▼ -140.19 ▼ -0.85%
Nasdaq____ 4,075.56 ▼ -72.78 ▼ -1.75%
S&P_500___ 1,863.40 ▼ -15.21 ▼ -0.81%
30_Yr_Bond____ 3.44 ▼ -0.03 ▼ -0.72%

NYSE Volume 3,213,026,500
Nasdaq Volume 2,065,653,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,685.69 ▼ -17.31 ▼ -0.26%
DAX_____ 9,401.55 ▼ -147.13 ▼ -1.54%
CAC_40__ 4,443.63 ▼ -35.91 ▼ -0.80%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,515.50 ▲ 13.30 ▲ 0.24% ANZAC holiday
Shanghai_Comp 2,036.52 ▼ -20.51 ▼ -1.00%
Taiwan_Weight 8,774.12 ▼ -171.33 ▼ -1.92%
Nikkei_225___ 14,429.26 ▲ 24.27 ▲ 0.17%
Hang_Seng.__ 22,223.53 ▼ -339.27 ▼ -1.50%
Strait_Times.__ 3,267.57 ▼ -16.36 ▼ -0.50%
NZX_50_Index_ 5,153.96 ▲ 11.04 ▲ 0.21% ANZAC holiday

http://finance.yahoo.com/news/stocks-drop-sharply-amazon-tech-204109784.html

Stocks drop sharply; Amazon, tech shares drop

Stocks sink as Amazon, Ford drag market lower; Escalating tensions in Ukraine worry investors
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- The stock market fell sharply Friday, dragged down by disappointing quarterly results from Amazon and Ford. Escalating tensions between the U.S. and Russia over Ukraine also weighed on the market.

Worried investors sold their risky assets and moved into the traditional havens: bonds, gold and stocks that pay high dividends like utilities.

The Standard & Poor's 500 fell 15.21 points, or 0.8 percent, to 1,863.40. The Dow Jones industrial average lost 140.19 points, or 0.9 percent, to 16,361.46 and the Nasdaq composite lost 72.78 points, or 1.8 percent, to 4,075.56.

Friday's sell-off was enough to push the Dow, S&P 500 and Nasdaq into the red for the week.

Technology stocks, which have been volatile for the last two months, were once again a hotbed of selling.

Amazon, the world's largest online store, sank $33.32, or 10 percent, to $303.83. Amazon reported late Thursday an increase in first-quarter profit, but the company also said that spending on investments will likely lead to an operating loss in the second quarter.

The retail giant dragged the rest of the technology sector lower, making it one of the worst performing sectors in the S&P 500. Netflix fell more than 6 percent, Priceline lost 5 percent, Facebook fell 5 percent and Twitter lost more than 7 percent.

Investors have had little patience for companies missing their forecasts this quarter, said Scott Clemons, chief investment strategist at Brown Brothers Harriman.

"The market is in a precarious position at the moment, and overreacts to bad news far more than it did last year," he said, noting as an example the 10 percent drop in Amazon's stock price, even though the company meet analysts' forecasts for the most recent quarter.

For a second day, the escalating tensions between Russia and Ukraine weighed on U.S. investor sentiment.

Secretary of State John Kerry on Thursday accused Russia of failing to live up to its commitments to ease the crisis in Ukraine. Kerry said bluntly that unless Moscow takes immediate steps to de-escalate the situation, Washington will have no choice but to impose additional sanctions. In a separate event, Ukraine's deputy foreign minister said he feared a Russian invasion was imminent.

Investments thought to be less risky were among the few assets to rise Friday. Bond prices rose, pushing the yield on the 10-year Treasury note down to 2.66 percent from 2.68 percent Thursday. Gold rose $10.20, or 0.8 percent, to $1,300.80 an ounce.

"Cash on the sidelines is looking for safety over anything else right now," said Mike Serio, a regional chief investment officer with Wells Fargo Private Bank.

Dividend-rich utility stocks also rose. The Dow Jones utility index, a basket of 15 utility stocks, rose 1 percent to 551.66, its highest level since December 2007.

The U.S. might have put in place the sanctions against Russia and its officials to punish that country, but the measures are starting to have an impact the profits of some U.S. companies as well.

Visa fell $10.47, or 5 percent, to $198.93 after it warned that the U.S. sanctions were causing Russian banks to use other companies to process payments. Russian President Vladimir Putin said the country will create its own payment processing system. MasterCard was also hurt by the news. Its stock fell $3.69, or 5 percent, to $70.66.

Visa's decline accounted for roughly half the fall in the Dow on Friday.

In other company news:

— Ford fell 54 cents, or 3.3 percent, to $15.78 after the company reported earnings that fell short of Wall Street's expectations. Worldwide sales rose 6 percent in the first quarter, but the company reported a sales drop in North America that cut into the company's profit. General Motors fell 45 cents, or 1.3 percent, to $33.72.

1778

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 87.28 points or ▲ 0.53% on Monday, 28 April 2014
Symbol …........Last …......Change.......
Dow_Jones 16,448.74 ▲ 87.28 ▲ 0.53%
Nasdaq____ 4,074.40 ▼ -1.16 ▼ -0.03%
S&P_500___ 1,869.43 ▲ 6.03 ▲ 0.32%
30_Yr_Bond____ 3.46 ▲ 0.02 ▲ 0.58%

NYSE Volume 4,014,763,000
Nasdaq Volume 2,322,862,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,700.16 ▲ 14.47 ▲ 0.22%
DAX_____ 9,446.36 ▲ 44.81 ▲ 0.48%
CAC_40__ 4,460.53 ▲ 16.90 ▲ 0.38%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,516.10 ▲ 0.60 ▲ 0.01%
Shanghai_Comp 2,003.49 ▼ -33.03 ▼ -1.62%
Taiwan_Weight 8,809.71 ▲ 35.59 ▲ 0.41%
Nikkei_225___ 14,288.23 ▼ -141.03 ▼ -0.98%
Hang_Seng.__ 22,132.53 ▼ -91.00 ▼ -0.41%
Strait_Times.__ 3,242.71 ▼ -24.86 ▼ -0.76%
NZX_50_Index_ 5,115.80 ▼ -38.16 ▼ -0.74%

http://finance.yahoo.com/news/stocks-higher-deal-hopes-bofa-141132820.html

Stocks higher on deal hopes; BofA sinks

Stocks rise as investors react to potential big pharmaceutical deal; BofA drags banks lower

Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- It was a choppy ride for the stock market on Monday that ended with major U.S. indexes closing mostly higher.

Traders were pulled in multiple directions. Stocks opened higher, fell in the afternoon, and then rose again in the last hour of trading.

Bank stocks fell after Bank of America said a financial error would force it to cancel its stock buyback plan and dividend increase, while health-care stocks rose after U.S. drug giant Pfizer renewed its pursuit of a merger with British rival AstraZeneca. Formerly highflying technology stocks fell again, dragging the Nasdaq composite index into the red.

The Standard & Poor's 500 index rose 6.03 points, or 0.3 percent, to close at 1,869.43. The Dow Jones industrial average rose 87.28 points, or 0.5 percent, to 16,448.74 and the Nasdaq edged down 1.16 points, or 0.03 percent, to 4,074.40. The Nasdaq erased most of a 61-point loss.

Bank of America sank $1.00, or 6.3 percent, to $14.95 after it unexpectedly announced it would suspend its stock buyback program and dividend increase. The bank discovered an error in how it calculates its capital ratio, a crucial measure of a bank's financial strength. The Federal Reserve asked the bank to put its buyback and dividend increase on hold until the error was fixed.

Goldman Sachs and Citigroup each 1 percent following BofA's announcement. JPMorgan Chase edged down 0.4 percent.

High-risk technology stocks were another area of weakness Monday as investors continue to cut their exposure to high-growth names and turn their focus to larger dividend-paying companies. Amazon fell $7.25, or 2.5 percent, to $296.58 after falling 10 percent on Friday. Netflix lost $7.87, or 2.4 percent, to $314.21 and Facebook fell $1.57, or 2.7 percent, to $56.14.

In contrast, "old" technology companies such as Microsoft, Apple and IBM, which have more mature businesses and pay quarterly dividends, rose 2 percent or more Monday.

High-growth technology and biotechnology stocks have been falling for several weeks now. The Nasdaq is down 3 percent in April, while the S&P 500 and Dow are roughly flat.

Traders say the selling has been coming from large investors, who have been moving out of high-growth stocks and into safer investments. The Russell 2000, an index made up mostly of smaller companies, is down nearly 5 percent this month.

"When you have so many investors doing the same thing at the same time, you get these exaggerated moves in some of these stocks," said Ian Winer, director of equity trading at Wedbush Securities.

Health-care stocks did well after drug giant Pfizer renewed its push to buy British drug company AstraZeneca for $100 billion. The deal would be the latest big merger in the drug industry in recent weeks, if it happens. AstraZeneca jumped $8.35, or 12 percent, to $77.01. Pfizer rose $1.29, or 4.2 percent, to $32.04.

The health-care industry has seen several big deals this year. Just in the last two weeks, Zimmer Holdings announced it would buy medical device maker Biomet for $13.4 billion, Valeant Pharmaceuticals said it would bid for Botox maker Allergan for $50 billion and Novartis agreed to buy GlaxoSmithKline's cancer drug business for $16 billion.

"These deals have a halo effect on the rest of the market, particularly in the industry where it happens, because investors expect it means more deals are on their way," said Quincy Krosby, market strategist with Prudential Financial.

Investors now turn their focus to the Federal Reserve, which starts a two-day policy meeting on Tuesday. The central bank is expected to further dial back its economic stimulus by reducing its monthly bond purchases to $45 billion. Those monthly purchases, which totaled $85 billion in December, have helped hold down long-term interest rates for consumers and businesses.

In other markets, bond prices fell, pushing the yield of the 10-year U.S. Treasury note up to 2.70 percent from 2.66 percent Friday. Gold was little changed at $1,299 an ounce.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 86.63 points or ▲ 0.53% on Tuesday, 29 April 2014
Symbol …........Last …......Change.......
Dow_Jones 16,535.37 ▲ 86.63 ▲ 0.53%
Nasdaq____ 4,103.54 ▲ 29.14 ▲ 0.72%
S&P_500___ 1,878.33 ▲ 8.90 ▲ 0.48%
30_Yr_Bond____ 3.49 ▲ 0.03 ▲ 0.93%

NYSE Volume 3,626,490,250
Nasdaq Volume 1,894,435,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,769.91 ▲ 69.75 ▲ 1.04%
DAX_____ 9,584.12 ▲ 137.76 ▲ 1.46%
CAC_40__ 4,497.68 ▲ 37.15 ▲ 0.83%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,466.90 ▼ -49.20 ▼ -0.89%
Shanghai_Comp 2,020.34 ▲ 16.85 ▲ 0.84%
Taiwan_Weight 8,872.11 ▲ 62.40 ▲ 0.71%
Nikkei_225___ 14,288.23 ▼ -141.03 ▼ -0.98%
Hang_Seng.__ 22,453.89 ▲ 321.36 ▲ 1.45%
Strait_Times.__ 3,237.74 ▼ -4.97 ▼ -0.15%
NZX_50_Index_ 5,148.29 ▲ 32.49 ▲ 0.64%

http://finance.yahoo.com/news/stocks-gain-earnings-cummins-ameriprise-153412084.html

Stocks gain on earnings; Cummins, Ameriprise rise

Stocks move higher on solid earnings reports; Ameriprise, and Consol Energy gain, Coach slumps

Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Solid earnings from a broad swath of U.S. companies pushed the stock market higher on Tuesday.

Ameriprise Financial, a wealth management company, surged after posting earnings that exceeded Wall Street's expectations. The company also said it would buy back an additional $2.5 billion of its own stock and raise its dividend. Cummins, a maker of large diesel engines, jumped after the company said a surge in North American sales sent its earnings higher.

Just over half the companies in the Standard & Poor's 500 index have now released their earnings for the first quarter and, with the occasional exception, the reports have contained enough good news to drive stock prices higher. The S&P 500 has gained 2.1 percent since April 14, and the index is approaching its all-time high following a pullback at the start of the month prompted by a sell-off in formerly highflying Internet and biotechnology stocks.

"Corporate earnings are pretty good," said Randy Frederick, Managing Director of Trading and Derivatives at the Schwab Center for Financial Research. "Once the market got back on its feet after that dip that we had, it seems to be poised to hit a new record high very soon."

The Standard & Poor's 500 index rose 8.90 points, or 0.5 percent, to 1,878.33. The index is 12 points below its record high of 1,890.89 set April 2.

The Dow Jones industrial average climbed 86.63 points, or 0.5 percent, to 16,535.37. The Nasdaq composite gained 29.14 points, or 0.7 percent, to 4,103.54.

Analysts currently expect earnings for S&P 500 companies to grow by 1.4 percent in the first quarter, according to data from S&P Capital IQ. Although that is lower than the 5.2 percent earnings growth recorded in the same period a year ago, expectations for the period were low after an unusually harsh winter.

Two weeks ago, analysts were expecting an overall decline in earnings, but those expectations have risen as more companies have reported earnings.

"Companies have learned a new religion," said Chris Bertelsen, chief investment officer at Global Financial Private Capital, a wealth management company. "That is, underpromise and overdeliver."

Ameriprise rose $6.04, or 5.8 percent, to $109.55. Financial stocks rose almost 1 percent, the biggest gain of the 10 industry groups that make up the S&P 500.

Cummins rose $5.61, or 3.9 percent, to $150.81 after the company posted its results and raised its sales outlook due to improving demand in North America.

Coach, a maker of handbags and other luxury goods, was among the day's losers. The company's stock fell $4.71, or 9.3 percent, to $45.71 after Coach said its earnings declined in the first three months of the year. Sales in North America came under pressure from competitors like Michael Kors.

Investors get more information on the U.S. economy and the Federal Reserve's thinking on Wednesday.

The Commerce Department will issue the first of three estimates of how fast the U.S. economy grew in the January-March quarter. Economists say a slowdown last quarter, caused mainly by a severe winter, is likely giving way to stronger growth that should endure through the rest of the year.

The Fed will release a statement after the conclusion of their its two-day meeting. Most economists expect that the Fed will reduce its monthly bond purchases by another $10 billion, to $45 billion a month. The Fed's stimulus has helped underpin a five-year rally in stocks.

The yield on the 10-year Treasury note was unchanged from Monday at 2.70 percent. The price of oil rose 44 cents, or 0.4 percent, to $101.28 a barrel.

Among other stocks making big moves:

”” MGM Resorts International rose $1.96, or 8.5 percent, to $24.98 after the company said its first-quarter earnings soared, bolstered by continued strength in Macau and improved room bookings on the Las Vegas Strip.

”” Sprint, the third-largest U.S. wireless carrier, gained 84 cents, or 11.3 percent, to $8.27 after the company posted a loss that was smaller than Wall Street analysts' had expected.

”” Consol Energy rose $1.98, or 4.7 percent, to $43.93 after it announced earnings of $116 million in the first quarter. The company's profit was helped by growth in its oil and gas business.

”” Twitter fell $4.16, or 10 percent, to $38.46 in after-hours trading after the company booked a net loss in the first quarter.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 45.47 points or ▲ 0.27% on Wednesday, 30 April 2014
Symbol …........Last …......Change.......
Dow_Jones 16,580.84 ▲ 45.47 ▲ 0.27%
Nasdaq____ 4,114.56 ▲ 11.01 ▲ 0.27%
S&P_500___ 1,883.95 ▲ 5.62 ▲ 0.30%
30_Yr_Bond____ 3.46 ▼ -0.03 ▼ -0.95%

NYSE Volume 3,745,671,000
Nasdaq Volume 2,135,288,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,780.03 ▲ 10.12 ▲ 0.15%
DAX_____ 9,603.23 ▲ 19.11 ▲ 0.20%
CAC_40__ 4,487.39 ▼ -10.29 ▼ -0.23%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,470.80 ▲ 3.90 ▲ 0.07%
Shanghai_Comp 2,026.36 ▲ 6.02 ▲ 0.30%
Taiwan_Weight 8,791.44 ▼ -80.67 ▼ -0.91%
Nikkei_225___ 14,304.11 ▲ 15.88 ▲ 0.11%
Hang_Seng.__ 22,133.97 ▼ -319.92 ▼ -1.42%
Strait_Times.__ 3,264.71 ▲ 26.97 ▲ 0.83%
NZX_50_Index_ 5,232.68 ▲ 84.38 ▲ 1.64%

http://finance.yahoo.com/news/dow-closes-record-fed-keeps-211940838.html

Dow closes at record as Fed keeps cutting stimulus

Stocks rise as investors weigh company earnings, economy and Fed; Dow closes at record high


Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The Dow Jones industrial average closed at an all-time high Wednesday as the good narrowly outweighed the bad for the stock market.

After investors took in some solid U.S. company earnings, the latest move from the Federal Reserve and a report of unexpectedly weak economic growth in the first quarter, the stock market managed its third straight day of gains.

The Dow Jones industrial average rose 45.47 points, or 0.3 percent, to 16,580.84, four points above its previous record set on Dec. 31. It was the first day the index closed in positive territory for the year.

The Standard & Poor's 500 index rose 5.62 points, or 0.3 percent, to 1,883.95. The Nasdaq composite rose 11.01 points, or 0.3 percent, to 4,114.56.

Stocks started the day lower after the Commerce Department said U.S. growth slowed to a barely discernible 0.1 percent annual rate in the January-March quarter, less than 1.1 percent forecast by economists, according to FactSet. Winter storms chilled activity.

The market's reaction was muted because most investors expect the slowdown to be temporary and growth to rebound with warmer temperatures.

"Most people, including us, expected March to have been the strongest month of the first quarter" and that growth will continue to pick up, said Sean Lynch, global investment strategist for Wells Fargo Private Bank. "That's an OK environment for the market."

Some solid earnings reports and corporate deal news helped offset the weak economic report, and by midday stocks had eked out small gains.

Pepco Holdings surged $3.97, or 17.4 percent, to $26.76 after it agreed to be acquired by nuclear power company Exelon for $6.83 billion, creating a large electric and gas utility in the mid-Atlantic region. Exelon will pay an 18 percent premium to the company's $23.10 closing price on Tuesday.

Sealed Air rose $1.72, or 5.3 percent, to $34.31 after the food packaging company's earnings easily beat Wall Street's expectations. The company also said it was on track to post full-year earnings at the upper end of the range of its forecast.

More than 60 percent of S&P 500 companies have reported first-quarter earnings. Analysts currently expect earnings to grow by 1.7 percent in the period, according to S&P Capital IQ data. That compares with growth of almost 8 percent in the fourth quarter and 5.2 percent in the same period a year ago.

Stocks climbed higher in afternoon trading after the Federal Reserve's statement following its April policy meeting was in line with investor's expectations.

The Fed said it would reduce its monthly bond purchases by another $10 billion to $45 billion. The stimulus is intended to hold down long-term interest rates and support the mortgage market. The Fed also reaffirmed its plan to keep short-term interest rates low to support the economy "for a considerable time" after its bond purchases end, likely late this year.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.65 percent from 2.70 percent on Tuesday. The yield on the note has fallen from 3 percent at the start of the year.

As bond yields remain close to historical lows, stocks will likely remain attractive to investors, said David Kelly, Chief Global Strategist at JPMorgan funds.

"What else are you supposed to do with your money?" Kelly said. "For lack of something better to do with it, money is going to move back into equities."

Among other stocks making big moves:

”” Twitter fell $3.65, or 8.6 percent, to $38.97 after its customer growth disappointed investors when it reported quarterly results late Tuesday. Twitter had 255 million monthly users at the end of March, up 25 percent from a year earlier, but 2 million fewer than industry analysts had expected. Twitter shot higher after its IPO at $26 a share in November, climbing as high as $73.31 in December. The stock has been steadily declining since then.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -21.97 points or ▼ -0.13% on Thursday, 1 May 2014
Symbol …........Last …......Change.......
Dow_Jones 16,558.87 ▼ -21.97 ▼ -0.13%
Nasdaq____ 4,127.45 ▲ 12.90 ▲ 0.31%
S&P_500___ 1,883.68 ▼ -0.27 ▼ -0.01%
30_Yr_Bond____ 3.40 ▼ -0.05 ▼ -1.53%

NYSE Volume 3,394,530,500
Nasdaq Volume 2,059,527,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,808.87 ▲ 28.84 ▲ 0.43%
DAX_____ 9,603.23 ▲ 19.11 ▲ 0.20%
CAC_40__ 4,487.39 ▼ -10.29 ▼ -0.23%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,430.40 ▼ -40.40 ▼ -0.74%
Shanghai_Comp 2,026.36 ▲ 6.02 ▲ 0.30%
Taiwan_Weight 8,791.44 ▼ -80.67 ▼ -0.91%
Nikkei_225___ 14,485.13 ▲ 181.02 ▲ 1.27%
Hang_Seng.__ 22,133.97 ▼ -319.92 ▼ -1.42%
Strait_Times.__ 3,264.71 ▲ 26.97 ▲ 0.83%
NZX_50_Index_ 5,209.21 ▼ -23.47 ▼ -0.45%

http://finance.yahoo.com/news/encouraging-news-economy-fails-lift-205553256.html

Encouraging news on economy fails to lift stocks
Encouraging news on US economy fails to give stocks a lift; Dish gains on bid report

Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Encouraging news on the U.S. economy wasn't enough to give the stock market its fourth straight day of gains.

Manufacturing grew faster in April than in March as exports picked up and factories accelerated hiring. U.S. shoppers ramped up their spending in March at the fastest pace in 4 ½ years and construction spending also ticked higher. The reports, coming a day after the Commerce Department said U.S. growth stalled in the January-March quarter, suggest that the economy is gaining momentum after the unusually harsh winter.

The market remains close to its all-time highs, but for now investors, uncertain about which way the economy is headed, appear reluctant to push stocks higher.

"The data was good, but not robust enough to completely eliminate doubts over whether the first quarter was entirely weather-related," said Anthony Valeri, an investment strategist for LPL Financial.

The Standard & Poor's 500 index fell 0.27 points, or less than 0.1 percent, to 1,883.68. The Dow Jones industrial average fell 21.97 points, or 0.1 percent, to 16,558.87. The Dow closed at an all-time high on Wednesday. The Nasdaq composite rose 12.90 points, or 0.3 percent, to 4,127.45.

Investors' reaction to the economic reports was also likely muted ahead of Friday's April jobs report, Valeri said. Economists are predicting U.S. employers added 210,000 jobs last month and that the unemployment rate dipped to 6.6 percent from 6.7 percent.

On Thursday, stocks moved between small gains and losses for most of the day as investors also assessed the latest round of company earnings and reports of a potential deal.

DirecTV climbed $3.16, or 4.1 percent, to $80.76 after The Wall Street Journal reported that AT&T had approached the satellite TV provider about a possible acquisition. A deal would likely be worth about $40 billion, the Journal reported. The report came after news Wednesday that power company Exelon agreed to buy Pepco Holdings for $6.8 billion.

"That corporate balance sheet, which was very conservative for a while, is starting to unlock," said Jerry Braakman, chief investment officer of First American Trust.

In earnings news, Avon Products slumped $1.56, or 10.2 percent, to $13.72 after the beauty products company said its first-quarter loss widened, stung by volatile currency moves in Venezuela and weak revenue across all regions. Profit and revenue fell short of Wall Street expectations.

MasterCard and Yelp were among the companies that gained after reporting their latest quarterly earnings.

MasterCard rose 67 cents, or 0.9 percent, to $74.22 after the company reported that its net income climbed 14 percent in the first quarter as more spending by cardholders worldwide lifted the company's results.

Yelp rose $5.70, or 9.8 percent, to $64.02 after the company said late Wednesday that its first-quarter loss narrowed as more local businesses signed up for the online review site's services. The results were better than the market expected, and the company raised its revenue guidance for the year.

Overall, the trend in U.S. company earnings has been steady, if not spectacular, improvement.

More than 60 percent of the companies in the S&P 500 have reported earnings for the first quarter. Analysts expect earnings for the period to rise by 1.7 percent, compared with growth of almost 8 percent in the fourth quarter and 5.2 percent in the same period a year ago, according to data from S&P Capital IQ.

"There's a lot of noise around the trend, but the trend is positive ... Earnings are coming in OK, and that makes me happy," said Karyn Cavanaugh, senior market strategist at Voya Investment Management. "Investors need to get into this market."

Treasury prices rose. The yield on the 10-year Treasury note fell to 2.61 percent from 2.65 percent, and is close to its lowest level of the year.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -45.98 points or ▼ -0.28% on Friday, 2 May 2014
Symbol …........Last …......Change.......
Dow_Jones 16,512.89 ▼ -45.98 ▼ -0.28%
Nasdaq____ 4,123.90 ▼ -3.55 ▼ -0.09%
S&P_500___ 1,881.14 ▼ -2.54 ▼ -0.13%
30_Yr_Bond____ 3.37 ▼ -0.04 ▼ -1.12%

NYSE Volume 3,154,843,500
Nasdaq Volume 1,828,098,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,822.42 ▲ 13.55 ▲ 0.20%
DAX_____ 9,556.02 ▼ -47.21 ▼ -0.49%
CAC_40__ 4,458.17 ▼ -29.22 ▼ -0.65%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,438.80 ▲ 8.40 ▲ 0.15%
Shanghai_Comp 2,026.36 ▲ 6.02 ▲ 0.30%
Taiwan_Weight 8,867.32 ▲ 75.88 ▲ 0.86%
Nikkei_225___ 14,457.51 ▼ -27.62 ▼ -0.19%
Hang_Seng.__ 22,260.67 ▲ 126.70 ▲ 0.57%
Strait_Times.__ 3,252.55 ▼ -12.16 ▼ -0.37%
NZX_50_Index_ 5,232.91 ▲ 23.70 ▲ 0.46%

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

Stocks finish lower on mixed earnings, Ukraine

US stocks fall on mixed corporate earnings; Flare-up in Ukraine weighs on market

Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- The stock market ended lower on Friday as a surprisingly strong report on job gains failed to impress investors.

Stocks rose in the early going after the government reported that U.S. employers hired at the fastest pace in two years last month. The Standard and Poor's 500 index briefly rose above its record closing high.

The market started to slump in late morning trading on news of downed helicopters and killed fighters in eastern Ukraine. Early Friday Ukrainian government forces attacked pro-Russian insurgents in the region.

All three major U.S. stock indexes wavered between gains and losses for most of the day.

Among the biggest losers was LinkedIn. The online professional networking service fell 8 percent after reporting its largest quarterly loss since going public. Expedia, the online travel site, fell nearly 4 percent, and Pfizer fell 1.3 percent after the drug company's latest offer to buy AstraZeneca was rejected by its board.

In the jobs report, the government said employers added 288,000 jobs in April, 70,000 more than expected. Hiring was stronger in the prior two months than initially estimated, too. The unemployment rate for April plunged to 6.3 percent, the lowest since September 2008.

A few details of the report were less encouraging. The drop in the unemployment rate likely reflected long-term jobless who had been out of work for six months or more before finally giving up looking for work. People aren't counted as unemployed unless they're looking for a job.

"Long-term unemployment is higher than expected, but overall (the report) is positive," said Brad Sorensen, director of market and sector research at Charles Schwab. He added, "There isn't a ton of enthusiasm in the market."

Among the stocks taking big hits Friday was Madison Square Garden, which fell $3.62, or 6.6 percent, to $51.47. The owner of sports teams and entertainment venues like Radio City Music Hall said its earnings fell by half in its fiscal third quarter, partly due to a management change and a costly delay for a Rockettes production.

Among the gainers was Wynn Resorts, which rose $15.05, or 7 percent, to $221.68 after reporting that its first-quarter net income grew 12 percent. The company cited strong gambling revenues from its growing operations in Macau.

More than halfway through the first-quarter reporting season, earnings for all companies in the S&P 500 are forecast to have grown 1.7 percent, according to S&P Capital IQ, a data provider. That compares with nearly 8 percent last quarter.

"We've got decent earnings growth, but it's not great," said Dan Morris, global investment strategist at TIAA-CREF. "We want the market to always hit new highs, but it has to be driven by earnings growth."

On Friday, the S&P 500 fell 2.54 points, or 0.1 percent, to 1,881.14. The Dow Jones industrial average lost 45.98 points, or 0.3 percent, to 16,512.89. The Nasdaq composite dropped 3.55 points, or 0.1 percent, to 4,123.90.

In Ukraine, the government sent armored vehicles and troops to oust pro-Russian insurgents in the eastern city of Slovyansk. Two Ukrainian helicopters were shot down, and several people were reported dead.

Russia said Ukraine's offensive "destroyed" a two-week-old agreement on defusing the crisis.

Investors sought safety in U.S. Treasurys, pushing bond prices higher. The yield on the 10-year Treasury note fell to 2.59 percent, near its lowest level of the year.

The price of crude oil rose 34 cents to $99.76 per barrel

In other corporate news, Estee Lauder rose $3.43, or nearly 5 percent, to $75.62 after reporting quarterly results that beat analysts' estimates. Earnings at the beauty products company jumped 19 percent, helped by strength in emerging markets.

2222

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 17.66 points or ▲ 0.11% on Monday, 5 May 2014
Symbol …........Last …......Change.......
Dow_Jones 16,530.55 ▲ 17.66 ▲ 0.11%
Nasdaq____ 4,138.06 ▲ 14.16 ▲ 0.34%
S&P_500___ 1,884.66 ▲ 3.52 ▲ 0.19%
30_Yr_Bond____ 3.41 ▲ 0.04 ▲ 1.22%

NYSE Volume 2,715,491,000
Nasdaq Volume 1,546,029,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,822.42 ▲ 13.55 ▲ 0.20%
DAX_____ 9,529.50 ▼ -26.52 ▼ -0.28%
CAC_40__ 4,462.69 ▲ 4.52 ▲ 0.10%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,443.40 ▲ 4.60 ▲ 0.08%
Shanghai_Comp 2,027.35 ▲ 1.00 ▲ 0.05%
Taiwan_Weight 8,870.43 ▲ 3.11 ▲ 0.04%
Nikkei_225___ 14,457.51 ▼ -27.62 ▼ -0.19%
Hang_Seng.__ 21,976.33 ▼ -284.34 ▼ -1.28%
Strait_Times.__ 3,241.60 ▼ -10.95 ▼ -0.34%
NZX_50_Index_ 5,200.25 ▼ -32.66 ▼ -0.62%

http://finance.yahoo.com/news/stocks-edge-higher-us-sector-191417782.html

Stocks edge higher; US service sector improves

Stocks edge higher as investors weigh growth in US services against weak Chinese manufacturing
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- Worries from overseas held back the stock market on Monday.

Stocks started the day lower after a report showed that manufacturing in China, the world's second biggest economy, had contracted for the fourth straight month. News of more fighting between pro-Russian activists and soldiers in Ukraine also made investors cautious.

The negative news was offset by a report that showed U.S. service firms grew more quickly last month as sales and new orders rose. Stocks climbed after the report was released mid-morning and ended the day higher, but the gains were slight. Stocks remain close to all-times highs, and investors still appear unwilling to push the market higher even amid signs that the U.S. economy is strengthening.

"The foreign concerns are dampening what might otherwise have been a better day in the market," said Kate Warne, an investment strategist at Edward Jones, a financial adviser. "It really is quite a mixed picture."

The Standard & Poor's 500 index rose 3.52 points, or 0.2 percent, to 1,884.66. The index is six points below its record close of 1,890 set on April 2. The Dow Jones industrial average rose 17.66 points, or 0.1 percent, to 16,530.55. The Nasdaq composite rose 14.16 points, or 0.3 percent, to 4,138.06.

Utilities stocks rose the most in the S&P 500 index. The utility sector has risen 12.5 percent this year, making it the best performing industry group in the S&P 500. Utilities stocks typically pay big dividends and have been popular with investors as bond yields have fallen this year, said Kristina Hooper, U.S. investment strategist at Allianz Global Investors.

"Investors have been starved, when it comes to traditional sources of income," said Kristina Hooper, U.S. investment strategist at Allianz Global Investors.

Financial stocks were the day's biggest losers. The declines were led by JPMorgan Chase, after the bank said late Friday in a quarterly filing that it expects revenue from its bond and stock market unit to be down about 20 percent in the second quarter in a "continued challenging environment." The bank's first-quarter earnings were crimped by lower revenue at its bond trading business.

JPMorgan slumped $1.36, or 2.4 percent, to $54.22. Other banks with big bond-trading businesses, such as Morgan Stanley, Goldman Sachs and Citigroup also fell.

Investors were also watching earnings.

Tyson Foods slumped $4.21, or 9.9 percent, to $38.44 after the company's outlook for full-year earnings fell short of analysts' expectations.

Pfizer fell 79 cents, or 2.6 percent, to $29.96 after the drug company said Monday that its first-quarter profit dropped 15 percent despite sharp cost-cutting. The earnings decline reflected competition from cheaper generic drugs. Pfizer has been trying since January to get British rival AstraZeneca to discuss its bid to buy the company, but AstraZeneca continues to rebuff Pfizer.

While stocks have been treading water for most of the year, bonds have climbed. That has surprised many analysts who were expecting bonds to fall after the Federal Reserve announced in December that it would start reducing its bond purchases as the economy was strengthening. The bond purchases are intended to boost the economy by keeping long-term interest rates low.

Investors have been buying bonds for a variety of reasons. Inflation has remained as low, even amid signs that that the economy is strengthening. Concerns that the tensions between Russia and Ukraine could escalate further have also boosted demand for risk-free government debt.

"The bond market action has been one of the more surprising elements of the capital markets story this year," said Jim Russell, regional investment director at US Bank. "We do feel that yields will probably drift higher" as the economy continues to improve, Russell said.

The yield on the 10-year Treasury note, which moves in the opposite direction to its price, fell to 2.58 percent in early morning trading, matching its lowest level for the year. By the end of the day it had edged up to 2.61 percent. The yield on the note was close to 3 percent at the start of the year.

Among other stocks making big moves:

”” Walgreen rose 99 cents, or 1.4 percent, to $69.85 after the company reported revenue from established drugstores jumped 7.6 percent last month, topping analysts' expectations. Sales were helped by a later Easter holiday.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -129.53 points or ▼ -0.78% on Tuesday, 6 May 2014
Symbol …........Last …......Change.......
Dow_Jones 16,401.02 ▼ -129.53 ▼ -0.78%
Nasdaq____ 4,080.76 ▼ -57.30 ▼ -1.38%
S&P_500___ 1,867.72 ▼ -16.94 ▼ -0.90%
30_Yr_Bond____ 3.38 ▼ -0.03 ▼ -0.79%

NYSE Volume 3,326,632,750
Nasdaq Volume 1,833,217,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,798.56 ▼ -23.86 ▼ -0.35%
DAX_____ 9,467.53 ▼ -61.97 ▼ -0.65%
CAC_40__ 4,428.07 ▼ -34.62 ▼ -0.78%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,462.70 ▲ 19.30 ▲ 0.35%
Shanghai_Comp 2,028.04 ▲ 0.68 ▲ 0.03%
Taiwan_Weight 8,912.39 ▲ 41.96 ▲ 0.47%
Nikkei_225___ 14,457.51 ▼ -27.62 ▼ -0.19%
Hang_Seng.__ 21,976.33 ▼ -284.34 ▼ -1.28%
Strait_Times.__ 3,245.56 ▲ 3.96 ▲ 0.12%
NZX_50_Index_ 5,174.90 ▼ -25.36 ▼ -0.49%

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

Stocks drop on mixed earnings; Twitter plunges

Mixed earnings reports push down US stocks broadly; Internet stocks drop, led by Twitter
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- U.S. stocks fell broadly on Tuesday as investors found little to cheer in corporate earnings reports. A plunge in Twitter led Internet companies sharply lower.

Twitter dropped 18 percent after company insiders were allowed to sell stock for the first time since the initial public offering last year. Netflix fell 5 percent, Facebook and Amazon, 4 percent each, and Google, 2 percent.

Nine of the ten industry groups in the Standard and Poor's 500 fell, led by a 1.4 percent drop in financial companies after results for insurer American International Group fell short of analysts' expectations. Home builder stocks dropped after more signs of weakness in the housing market.

Jack Ablin, chief investment officer of BMO Private bank, says investors are worried that corporate results over the next few quarters will not justify the surge in prices from the start of 2013.

"We ran ahead of fundamental valuations, based on revenue and earnings," Ablin said. "Either revenue or earnings have to catch up to the market, or prices have to come down."

The S&P 500 dropped 16.94 points, or 0.9 percent, to 1,867.72. The Dow Jones industrial average fell 129.53 points, or 0.8 percent, to 16,401.02. The Nasdaq composite dropped 57.30 points, or 1.4 percent, to 4,080.76.

Even utilities ”” the biggest winners so far this year, up 12 percent ”” did not escape the selling. They slipped 0.5 percent.

The drop in the S&P 500 and the Dow Jones index was the third in four trading days, and comes despite recent upbeat news on the U.S. economy. Payrolls increased by 288,000 last month, the fastest pace since 2012.

Steven Ricchiuto, chief economist of Mizuho Securities, noted that, for all the job gains, wages for U.S. workers have not increased significantly, and that is holding back consumer spending.

"People are getting weary of the 'things-are-getting-better' story," said Steven Ricchiuto, chief economist of Mizuho Securities. "We're hiring more workers, but we're not paying them more."

Companies in the S&P 500 index are expected to have increased earnings by 2.6 percent in the first quarter, according to S&P Capital IQ, a data provider. That is down sharply from the nearly 8 percent jump in the fourth quarter.

U.S. home prices rose at a slightly slower pace in the 12 months that ended in March, according to data provider CoreLogic. It was another sign that weak sales, caused in part by rising mortgage rates, have begun to restrain the housing market's sharp price gains.

Home builder stocks fell broadly. Ryland Group fell $1.08, or nearly 3 percent, to $37.68. D.R. Horton fell 55 cents, or nearly 3 percent, to $22.43.

American International Group fell $2.18, or 4 percent, to $50.54. The company reported revenue that was below what investors expected due to higher catastrophe losses and lower investment income.

Investors were also keeping an eye on the turmoil in Ukraine. In the city of Donetsk, pro-Russia militants armed with automatic rifles and grenade launchers surrounded an Interior Ministry base. And a planned weekend referendum by pro-Russian insurgents for autonomy and independence in parts of eastern Ukraine was denounced as "bogus" by the Obama administration.

U.S. government bond prices rose slightly. The yield on the 10-year Treasury note fell to 2.59 percent from 2.61 percent Monday. The yield has fallen from 3 percent at the start of January.

In other stocks making big moves:

”” Office Depot soared 66 cents, or 16 percent, to $4.83 after reporting adjusted profits for the first quarter that were twice as high as analysts expected. The company also said it would close at least 400 U.S. stores after its merger with OfficeMax resulted in the overlap of retail locations.

”” Discovery Communications fell $3.06, or 4 percent, to $74.71 after reporting a gain in first-quarter revenue that was lower than analysts expected.

”” Merck fell $1.52, or 2.6 percent, to $57.11 after the drug company agreed to sell its non-prescription medicine and consumer-care business to Germany's Bayer for $14.2 billion. Products in that business include Claritin allergy pills, Coppertone sunscreen and Dr. Scholl's footcare products.

”” Whole Foods Market tanked $7.07, or 15 percent, to $40.83 in after-hours trading. Quarterly profit at the upscale grocer fell short of expectations as rivals have sped up their own organic and natural offerings. The company also cut its profit outlook for the rest of the year.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 117.52 points or ▲ 0.72% on Wednesday, 7 May 2014
Symbol …........Last …......Change.......
Dow_Jones 16,518.54 ▲ 117.52 ▲ 0.72%
Nasdaq____ 4,067.67 ▼ -13.09 ▼ -0.32%
S&P_500___ 1,878.21 ▲ 10.49 ▲ 0.56%
30_Yr_Bond____ 3.40 ▲ 0.02 ▲ 0.65%

NYSE Volume 3,607,977,000
Nasdaq Volume 2,467,297,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,796.44 ▼ -2.12 ▼ -0.03%
DAX_____ 9,521.30 ▲ 53.77 ▲ 0.57%
CAC_40__ 4,446.44 ▲ 18.37 ▲ 0.41%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,419.10 ▼ -43.60 ▼ -0.80%
Shanghai_Comp 2,010.08 ▼ -17.95 ▼ -0.89%
Taiwan_Weight 8,893.22 ▼ -19.17 ▼ -0.22%
Nikkei_225___ 14,033.45 ▼ -424.06 ▼ -2.93%
Hang_Seng.__ 21,746.26 ▼ -230.07 ▼ -1.05%
Strait_Times.__ 3,236.43 ▼ -9.13 ▼ -0.28%
NZX_50_Index_ 5,189.13 ▲ 14.23 ▲ 0.27%

http://finance.yahoo.com/news/stock-market-climbs-even-internet-202658629.html

Stock market climbs even as Internet names skid

S&P 500 index and Dow rise while Internet stocks and Whole Foods tug Nasdaq composite lower
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Soothing words from Federal Reserve Chair Janet Yellen helped pull the stock market out of a morning slump Wednesday. But Internet companies and Whole Foods Market plunged, taking the Nasdaq down.

Traders dropped NetApp, salesforce.com and other tech companies for a second day running, sending their stocks down 2 percent or more. Whole Foods sank 19 percent after cutting its profit forecast.

Yellen told the Joint Economic Committee of Congress that a tough job market and weak inflation meant that the Fed will likely keep borrowing rates low for a "considerable time." As a result, she said, the economy still needed the Fed's help.

Yellen's comments appeared to ease concerns that the Fed was going to remove more support. The stock market had wandered lower in morning trading, then turned from a loss to a gain before the lunch hour.

"I think the market breathed a sigh of relief that she wasn't going to unveil something new," said Jeff Kleintop, chief market strategist at LPL Financial.

The Standard & Poor's 500 index gained 10.49 points, or 0.6 percent, to close at 1,878.21.

The Dow Jones industrial average climbed 117.52 points, or 0.7 percent, to 16,518.54.

The Nasdaq was the only major index to fall. It gave up 13.09 points, or 0.3 percent, to 4,067.67.

The S&P 500 index is within striking distance of its all-time closing high of 1,890 reached on April 2.

"Whenever you're near all-time highs you're going to see skittishness," said JJ Kinahan, chief strategist at TD Ameritrade. "In this market, the slightest news can change everything,"

Kinahan said that many investors are wondering whether the stock market is priced too high. The average stock trades at 16 times its earnings over the past year, according to S&P Capital IQ. That's slightly higher than the historical average. Some tech stocks, however, are valued much higher. Amazon's stock has lost 27 percent this year, but it's still trading at a lofty 465 times earnings.

"Many of these stocks have come down a lot, but you can't say they're cheap," Kleintop said.

High prices reflect expectations for higher earnings, and companies in the S&P 500 are on track to report that earnings increased 3 percent in the first quarter, according to S&P Capital IQ. The problem is, earnings growth is slowing down. In the previous quarter, earnings jumped nearly 8 percent.

And there are concerns about future profits. Of the companies that have provided forecasts for the second quarter, nearly nine out of 10 have warned of weaker earnings.

Whole Foods cut its profit outlook late Tuesday, saying it's facing increased competition as supermarkets, big-box stores and even online retailers step up their offerings of organic foods. It's the third time the grocery chain has reduced its profit forecast in the last six months. Whole Foods dropped $9.02, or 19 percent, to $38.93.

Among Internet stocks, NetApp, a data management and storage company, fell $1.28, or 4 percent, to $33.70 and salesforce.com lost $1.35, or 3 percent, to $50.43.

Just two of the eight sectors in the S&P 500 fell, information technology and consumer discretionary companies. Gainers included utilities, which rose the most, 1.6 percent. That's a sign investors are still cautious. Investors tend to favor less volatile, high-dividend stocks like power companies when they want to play it safe. Utilities are by far the best-performing sector in the market so far this year, up 13.8 percent.

In other markets, crude oil rose $1.27 to settle at $100.77 a barrel. Gold dropped $19.70 to $1,288.90 an ounce. U.S. government bonds barely moved. The yield on the 10-year Treasury note ended the trading day at 2.59 percent, unchanged from late Tuesday.

Among other companies making big moves:

”” Mondelez surged following news that it will combine its coffee business with D.E. Master Blenders to form a new company, Jacobs Douwe Egberts. The new company will sell Gevalia, Tassimo and Jacobs, among other coffee brands. Mondelez gained $2.88, or 8 percent, to $38.10.

”” Electronic Arts jumped $5.90, or 21 percent, to $33.95 after the video-game maker turned in stronger results late Tuesday. The maker of "The Sims" and "Madden NFL" reported higher profits and revenue than Wall Street expected and forecast stronger earnings over the next year. Electronic Arts has soared 45 percent so far this year.

”” Molson Coors Brewing reported better results than analysts expected on Wednesday. Quarterly earnings rose thanks to a payment it received from Modelo for a joint venture that ended early. Molson's stock rose $2.18, or 4 percent, to $61.93.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 32.43 points or ▲ 0.20% on Thursday, 8 May 2014
Symbol …........Last …......Change.......
Dow_Jones 16,550.97 ▲ 32.43 ▲ 0.20%
Nasdaq____ 4,051.50 ▼ -16.18 ▼ -0.40%
S&P_500___ 1,875.63 ▼ -2.58 ▼ -0.14%
30_Yr_Bond____ 3.42 ▲ 0.01 ▲ 0.35%

NYSE Volume 3,385,507,250
Nasdaq Volume 2,393,532,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,839.25 ▲ 42.81 ▲ 0.63%
DAX_____ 9,607.40 ▲ 86.10 ▲ 0.90%
CAC_40__ 4,507.24 ▲ 60.80 ▲ 1.37%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,455.90 ▲ 36.80 ▲ 0.68%
Shanghai_Comp 2,015.27 ▲ 5.19 ▲ 0.26%
Taiwan_Weight 8,930.90 ▲ 37.68 ▲ 0.42%
Nikkei_225___ 14,163.78 ▲ 130.33 ▲ 0.93%
Hang_Seng.__ 21,837.12 ▲ 90.86 ▲ 0.42%
Strait_Times.__ 3,244.18 ▲ 7.75 ▲ 0.24%
NZX_50_Index_ 5,161.41 ▼ -27.72 ▼ -0.53%

http://finance.yahoo.com/news/stocks-end-mostly-lower-energy-210026528.html

Stocks end mostly lower; Energy, utilities fade

Stocks end mostly lower as investor sell utilities and energy stocks; Tesla drops on earnings
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The stock market finished mostly lower on Thursday as investors assessed the latest batch of company earnings and sold utility and energy stocks.

Tesla, a maker of electric cars, fell after reporting a first-quarter loss and saying it would need to invest more in its business.

Companies that pay steady dividends and have a long record of profitability, such as utilities, have surged this year, benefiting from a shift in sentiment as investors sold previously high-flying Internet and small-company stocks. A sell-off in these stocks could be a troubling sign for the overall market.

"The market's still pretty sloppy," said Quincy Krosby, a market strategist at Prudential Financial. "The fear in the market is that the selling spreads to the defensive stocks, the safe havens and that could bring down the whole market."

The Standard & Poor's 500 index fell 2.58 points, or 0.1 percent, to 1,875.63. The Dow Jones industrial average edged up 32.43 points, or 0.2 percent, to 16,550.97. The Nasdaq composite lost 16.18 points, or 0.4 percent, to 4,051.50.

Utility companies in the S&P 500 fell 1.2 percent, paring their gains this year to 12.5 percent. Energy stocks dropped 1.3 percent.

Stocks had started the day higher as investors looked over earnings reports and after some encouraging news on hiring.

The U.S. government reported that the number of Americans seeking unemployment benefits fell 26,000 last week to 319,000, the latest sign that the job market is slowly improving. The drop follows two weeks of increases that reflected mostly temporary layoffs around the Easter holiday.

Keurig Green Mountain was among the big gainers after report earnings.

The maker of specialist coffees climbed $11.98, or 13 percent, to $104.19 after its earnings exceeded analysts' estimates. Keurig, known for its single-serve coffee brewing system, said late Wednesday that its net income climbed 22 percent in its fiscal second quarter.

Twenty-First Century Fox was another winner. The company's stock rose $2.10, or 6.5 percent, to $34.22 after it also reported earnings that surpassed analysts' expectations. Fox's television unit got a boost from higher advertising revenue during the National Football League playoffs and the Super Bowl.

Tesla was among the day's losers.

The company, which makes electric cars, reported a $49.8 million first-quarter loss late Wednesday and said that spending on investments would weigh on earnings later this year. Tesla now sells only one car, the Model S, which starts at $70,000, but it's working on two other vehicles, an electric crossover SUV called the Model X and a lower-cost model.

The company's stock fell $22.76, or 11.3 percent, to $178.59.

Almost 90 percent of companies in the S&P 500 have now reported first-quarter earnings.

Overall earnings are expected to grow by 3.3 percent in the quarter, according to data from S&P Capital IQ. That compares with growth of almost 8 percent in the fourth quarter of 2013 and 5.2 percent in the same period a year ago.

Revenue also grew in the first quarter, rising 3.3 percent versus 1.6 percent growth in the fourth quarter, a positive sign that companies are experiencing stronger demand. Some investors believe that companies are still relying too much on cost-cutting to generate earnings growth.

"Those kind of cost-reduction strategies only go so far before you do need to have more top-line growth, and it remains to be seen whether companies can continue to grow in what remains, by many measure, a slow-growing economy," said Tom Karsten, chief investment officer at Karsten Advisors, a financial adviser and investment management company.

The Dow was the only major stock index to finish the day higher.

The index of blue-chip stocks has started to outperform other areas of the stock market as investors have sold small companies and growth-oriented stocks. The Russell 2000 index, which tracks small company stocks, is down 9.2 percent since March 4. Last year when stocks were surging, small companies were among the biggest gainers.

The move from growth stocks into bigger companies with steady revenues that pay dividends could signal that the market is set for a choppy period of trading, said Ryan Detrick, a senior technical strategist at Schaeffer's investment research.

"The small stocks, the little names, clearly are cracking, whereas the defensive names, the higher-yielding names, are leading," said Ryan Detrick, a senior technical strategist at Schaeffer's Investment Research. "Historically, that's not a sign of a healthy market."

Government bond prices fell. The yield on the 10-year Treasury note climbed to 2.61 percent from 2.59 percent on Wednesday. The yield, which is used to set interest rates on loans including home mortgages, is near its lowest level of the year.

Among other stocks making big moves:

”” Ford gained 35 cents, or 2.3 percent, to $15.81 after the automaker said it will buy back up to $1.8 billion of its own stock. Ford says the buybacks will help offset potential dilution from convertible debt and stock-based compensation for employees.

”” Twitter, which has endured a rough ride since surging on the first day of its initial public offering in November, rose $1.30, or 4.2 percent, to $31.96. The social media company's stock has plunged 52 percent since February.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 32.37 points or ▲ 0.20% on Friday, 9 May 2014
Symbol …........Last …......Change.......
Dow_Jones 16,583.34 ▲ 32.37 ▲ 0.20%
Nasdaq____ 4,071.87 ▲ 20.37 ▲ 0.50%
S&P_500___ 1,878.48 ▲ 2.85 ▲ 0.15%
30_Yr_Bond____ 3.47 ▲ 0.05 ▲ 1.52%

NYSE Volume 3,014,172,250
Nasdaq Volume 1,963,124,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,814.57 ▼ -24.68 ▼ -0.36%
DAX_____ 9,581.45 ▼ -25.95 ▼ -0.27%
CAC_40__ 4,477.28 ▼ -29.96 ▼ -0.66%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,442.00 ▼ -13.90 ▼ -0.25%
Shanghai_Comp 2,011.13 ▼ -4.14 ▼ -0.21%
Taiwan_Weight 8,889.69 ▼ -41.21 ▼ -0.46%
Nikkei_225___ 14,199.59 ▲ 35.81 ▲ 0.25%
Hang_Seng.__ 21,862.99 ▲ 25.87 ▲ 0.12%
Strait_Times.__ 3,252.13 ▲ 4.44 ▲ 0.14%
NZX_50_Index_ 5,152.67 ▼ -8.74 ▼ -0.17%

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

Dow inches to record as earnings reports wind down

Dow ekes out a record; Stocks end higher as reporting of US corporate earnings nears end
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- The Dow Jones industrial average hit a record on Friday, but without much conviction after a choppy day of trading during which investors couldn't make up their minds whether to buy or sell.

The blue-chip index flitted between small gains and losses at least a dozen times, and ended up beating its old record set last week by less than 2.5 points, or just 0.02 percent.

"The market is having trouble finding direction here," said David Kelley, JPMorgan Funds' chief global strategist. But he added, "I believe for the rest of the year, a warming economy ... will push the market up."

The Standard & Poor's 500 index also eked out a gain, but is no higher than it was in early March, after waffling between weekly gains and losses most of that time.

On Friday, stocks fell broadly from the open as investors took in the latest corporate earnings reports. It was an odd day in which winners became losers, and vice versa.

Stocks of utilities have been in favor lately because of their stable earnings and fat dividends, but investors dumped them Friday, and they closed 1.4 percent lower. That was the biggest drop of the S&P 500's ten sectors.

By contrast, a few big-name Internet stocks that had been crushed in a recent sell-off in that industry managed healthy gains.

Netflix announced it was raising prices for new subscribers of its streaming video service and investors cheered, lifting its stock 2 percent. Tesla Motors and LinkedIn, both down more than 10 percent since April, rose 2 percent and 2.5 percent, respectively.

The Dow edged up 32.37 points for the day, or 0.2 percent, to 16,583.34. That narrowly beat its previous record high of 16,580.84 set on April 30.

The S&P 500 index rose 2.85 points, or 0.2 percent, to 1,878.48. The Nasdaq composite rose 20.37 points, or 0.5 percent, to 4,071.87.

Mixed messages from earnings reports left investors without clear direction.

CBS fell $1.27, or 2 percent, to $56.74 after reporting late Thursday that its first-quarter revenue had fallen short of analysts' projections. Sales from advertising slumped 12 percent.

Ralph Lauren dropped $3.18, or 2 percent, to $148.81 after its forecast for sales for the current quarter disappointed investors.

Hilton Worldwide Holdings rose 43 cents, or 2 percent, to $23.07 after exceeding analysts' expectation for earnings. And Gap rose $1.28, or 3 percent, $40.52. The clothes store chain reported strong sales for April and issued a forecast for the current quarter that was better than investors were expecting.

With most companies out with their results, first-quarter earnings for the S&P 500 are expected to rise 3.4 percent, according to S&P Capital IQ. That's a respectable performance but still down from a nearly 8 percent gain in the fourth quarter.

Companies reporting earnings next week include Macy's, Deere & Co., Cisco Systems and Wal-Mart and Nordstrom.

Investors were also watching the situation in Ukraine. On Friday, fierce fighting in eastern Ukraine left at least seven dead. Pro-Russian militants are pressing ahead with plans for an independence referendum this weekend despite objections from Moscow.

Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank, said investors are still jittery five years after the financial crisis sent stocks tumbling to 12-year lows.

"There is always this worry about what is the next shoe to drop," he said. "So places we only learned about before in geography class become important: Crimea, Ukraine."

The yield on the 10-year Treasury note rose to 2.62 percent from 2.61 percent on Thursday. The price of oil fell 27 cents, or 0.3 percent, to $99.99 a barrel.

Among other stocks making big moves:

— Symantec rose 66 cents, or 3 percent, to $20.79. The security software maker said cost cuts helped boost its fourth-quarter profit margins and net income.

— News Corp. rose 89 cents, 5 percent, to $18. The publishing company, which owns The Wall Street Journal, reported net income fell in its fiscal third quarter, but still beat analysts' expectations due to better book publishing. That unit thrived thanks to of the "Divergent" series, which was launched as a movie in March.

2833

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 112.13 points or ▲ 0.68% on Monday, 12 May 2014
Symbol …........Last …......Change.......
Dow_Jones 16,695.47 ▲ 112.13 ▲ 0.68%
Nasdaq____ 4,143.86 ▲ 71.99 ▲ 1.77%
S&P_500___ 1,896.65 ▲ 18.17 ▲ 0.97%
30_Yr_Bond____ 3.49 ▲ 0.03 ▲ 0.72%

NYSE Volume 2,986,677,250
Nasdaq Volume 1,864,065,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,851.75 ▲ 37.18 ▲ 0.55%
DAX_____ 9,702.46 ▲ 121.01 ▲ 1.26%
CAC_40__ 4,493.65 ▲ 16.37 ▲ 0.37%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,429.00 ▼ -13.00 ▼ -0.24%
Shanghai_Comp 2,052.87 ▲ 41.74 ▲ 2.08%
Taiwan_Weight 8,808.61 ▼ -81.08 ▼ -0.91%
Nikkei_225___ 14,149.52 ▼ -50.07 ▼ -0.35%
Hang_Seng.__ 22,261.61 ▲ 398.62 ▲ 1.82%
Strait_Times.__ 3,222.43 ▼ -29.70 ▼ -0.91%
NZX_50_Index_ 5,162.42 ▲ 9.75 ▲ 0.19%

http://finance.yahoo.com/news/stock-market-touches-another-record-213538361.html

Stock market touches another record

Stocks rise to record levels as investors look to pick up bargains after slump
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The stock market returned to record levels on Monday as investors regained their appetite for riskier stocks.

After beating down Internet and small companies for two months, investors decided that those stocks had fallen enough. Among the big gainers were Twitter and Facebook, which had plunged in March and April. The Russell 2000, an index made up of small companies, climbed the most in two months.

Investors have been more cautious this year than last. They've favored big, less volatile stocks that pay rich dividends because of concerns about the outlook for the economy. Utility and energy companies have been among the beneficiaries of this trend, and have outperformed the overall market in 2014.

While interest rates remain low, investors will likely keep getting drawn back into stocks after any sell-off because holding cash isn't generating any returns, said Tim Courtney, chief investment officer at Exencial, an independent wealth management company.

"There is some bargain buying in some of the names that got hit hard in March and April," said Courtney

On Monday, the Standard & Poor's 500 index rose 18.17 points, or 1 percent, to finish at an all-time high of 1,896.65. The index last closed at a record high on April 2, when it reached 1,890.90.

The Dow Jones industrial average gained 112.13 points, or 0.7 percent, to end at 16,695.47 Monday. The Dow's previous record high was 16,583.34 on Friday.

The Nasdaq climbed 71.99 points, or 1.8 percent, to 4,143.86.

The Russell 2000 index rose 26.4 points, or 2.4 percent, to 1,133.65, its biggest gain since March 4. The index had slumped almost 10 percent from March 4 to May 9 as investors sold riskier stocks. The index still remains down 2.6 percent for the year after surging 37 percent in 2013.

Gains on Monday were led by technology and industrial companies, sectors that are expected to benefit most if the economy starts growing faster.

Facebook rose $2.59, or 4.5 percent, to $59.83, reducing the stock's decline since March 10 to 17 percent. Twitter, another stock that has been beaten down recently, rose $1.89, or 5.9 percent, to $33.94.

Stocks also got a boost from some merger news.

Pinnacle Foods surged $4.02, or 13.2 percent, to $34.47 after the company agreed to be acquired by Hillshire Brands. Pinnacle's brands include Duncan Hines and Aunt Jemima, while Hillshire makes Jimmy Dean and Sara Lee products. Hillshire fell $1.19, or 3.2 percent, to $35.76.

Even though stocks have largely moved sideways for most of the year following a surge in 2013, investors are still more concerned about missing the next leg of a rally than a market fall, said Doug Cote, chief market strategist, Voya Investment Management.

In government bond trading, prices fell. The yield on the 10-year Treasury note climbed to 2.66 percent from 2.63 percent on Friday.

Bond yields started falling at the start of the year as an unusually harsh winter put the brakes on the U.S. economy. They have continued to fall even as reports show the economy is strengthening again.

"There are a number of mysteries out there in the market," said Gerry Paul, chief investment officer of U.S. value equities at AllianceBernstein. "To me, one of the biggest is why the 10-year Treasury is trading where it is."

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 19.97 points or ▲ 0.12% on Tuesday, 13 May 2014
Symbol …........Last …......Change.......
Dow_Jones 16,715.44 ▲ 19.97 ▲ 0.12%
Nasdaq____ 4,130.17 ▼ -13.69 ▼ -0.33%
S&P_500___ 1,897.45 ▲ 0.80 ▲ 0.04%
30_Yr_Bond____ 3.45 ▼ -0.04 ▼ -1.09%

NYSE Volume 2,854,406,750
Nasdaq Volume 1,930,495,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,873.08 ▲ 21.33 ▲ 0.31%
DAX_____ 9,754.43 ▲ 51.97 ▲ 0.54%
CAC_40__ 4,505.02 ▲ 11.37 ▲ 0.25%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,475.40 ▲ 46.40 ▲ 0.85%
Shanghai_Comp 2,050.73 ▼ -2.14 ▼ -0.10%
Taiwan_Weight 8,817.94 ▲ 9.33 ▲ 0.11%
Nikkei_225___ 14,425.44 ▲ 275.92 ▲ 1.95%
Hang_Seng.__ 22,352.38 ▲ 90.77 ▲ 0.41%
Strait_Times.__ 3,222.43 ▼ -29.70 ▼ -0.91%
NZX_50_Index_ 5,199.34 ▲ 36.92 ▲ 0.72%

http://finance.yahoo.com/news/p-500-flirts-1-900-211939291.html

S&P 500 flirts with 1,900, but falls short

S&P 500 flirts with 1,900 but falls short of milestone; Keurig pops after Coca-Cola investment
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- The Standard & Poor's 500 index is flirting with a new milestone: 1,900.

The index briefly climbed above that level on Tuesday before dropping back to close just below it. Still, it set an all-time closing high by a fraction of point.

Stocks have gained as most investors remain optimistic that the economy will start to accelerate this year following a cold winter that stymied growth. First-quarter corporate earnings came in better than expected, giving stocks a lift.

Whether the S&P 500 climbs beyond the 1,900 level or falls back now depends on the how the economy develops, said John Canally, chief market strategist for LPL Financial. If growth falters, stocks will likely slide, he said.

"But if the economy can deliver ... and the global economy can accelerate, we'll look back at 1,900 and say 'Yes that was just a stop on the way to 2,000,'" he said.

On Tuesday, the Standard & Poor's 500 index rose 0.8 points, or less than 0.1 percent, to 1,897.45, after climbing as high as 1,902 in early trading. The Dow Jones industrial average rose 19.97 points, or 0.1 percent, to 16,715.44. The Nasdaq composite was the laggard of the three. The technology-focused index fell 13.7 points, or 0.3 percent, to 4,130.17.

Keurig Green Mountain was the biggest gainer in the S&P 500 index. Its stock surged $8.36, or 7.6 percent, to $119.07 after Coca-Cola raised its stake in the coffee company. Coca-Cola, the world's biggest beverage company, disclosed in a regulatory filing that a subsidiary now has a 16 percent stake in Keurig.

Investors were also assessing corporate earnings.

McKesson jumped $5.77, or 3.3 percent, to $180 after the prescription drug distributor said Monday its net income rose 43 percent in its fiscal fourth quarter. Its overall earnings got a boost from stronger results in North America and lower costs.

Beauty products company Elizabeth Arden plunged $8.13, or 23 percent, to $27.50 after it reported an unexpected quarterly loss and disclosed it has hired Goldman Sachs to help it explore strategic alternatives.

Overall, though, first-quarter earnings have come in better than analysts expected.

Nearly all companies in the S&P 500 have reported results, and earnings are forecast to grow by 3.3 percent when final figures are calculated, according to S&P Capital IQ data. Three weeks ago, analysts were expecting earnings to fall 1.1 percent.

Another encouraging sign was that company revenue growth accelerated in the quarter to 3.2 percent, from 1.6 percent in the fourth quarter.

Despite the positive backdrop, the stock market's move higher this year has been more of a grind compared with last year's surge. Along with worries about the U.S., there are concerns about growth overseas, as well as tensions with Russia after that country annexed the Crimea region in Ukraine.

Another factor is that stocks, having rallied for more than five years, are also no longer the bargain they once were.

"In 2009 the market was cheap. Now we're fairly valued, maybe a bit overvalued," said Canally of LPL Financial.

The price-earnings ratio, a measure of how expensive stocks are compared with next year's expected earnings, is 15.2 for companies in the S&P 500. That is below their average of 16.4 over the last twenty years, according to FactSet data, but above the 11.4 at the start of 2009.

In government bond trading, prices rose. The yield on the 10-year Treasury note dropped to 2.61 percent, from 2.66 percent late Monday.

The 1,900 level for the S&P 500 will likely prove a psychological hurdle for investors, as investors reassess the stock market and the economy, said Sean McCarthy, regional chief investment officer for Wells Fargo private bank. More good news on the economy should push stocks higher.

"The pause we are seeing today, is really just that, a pause, with the market coming to grips with where we are," said Lynch.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -101.47 points or ▼ -0.61% on Wednesday, 14 May 2014
Symbol …........Last …......Change.......
Dow_Jones 16,613.97 ▼ -101.47 ▼ -0.61%
Nasdaq____ 4,100.63 ▼ -29.54 ▼ -0.72%
S&P_500___ 1,888.53 ▼ -8.92 ▼ -0.47%
30_Yr_Bond____ 3.38 ▼ -0.08 ▼ -2.29%

NYSE Volume 2,804,939,750
Nasdaq Volume 1,746,047,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,878.49 ▲ 5.41 ▲ 0.08%
DAX_____ 9,754.39 ▼ -0.04 ▲ 0.00%
CAC_40__ 4,501.04 ▼ -3.98 ▼ -0.09%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,475.90 ▲ 0.50 ▲ 0.01%
Shanghai_Comp 2,047.91 ▼ -2.82 ▼ -0.14%
Taiwan_Weight 8,875.16 ▲ 57.22 ▲ 0.65%
Nikkei_225___ 14,405.76 ▼ -19.68 ▼ -0.14%
Hang_Seng.__ 22,582.77 ▲ 230.39 ▲ 1.03%
Strait_Times.__ 3,259.09 ▲ 36.66 ▲ 1.14%
NZX_50_Index_ 5,213.36 ▲ 14.02 ▲ 0.27%

http://finance.yahoo.com/news/stocks-fall-back-record-levels-205618970.html

Stocks fall back from record levels

Stocks fall back from record levels as investors play it safe; Treasurys make big gains
Associated Press
By Steve Rothwell, AP Market Writer

NEW YORK (AP) -- Stocks fell back from record levels on Wednesday as investors decided it was better to play it safe.

A day after the Standard & Poor's 500 index climbed above 1,900 for the first time, investors turned their backs on stocks that would benefit more than others in a reviving economy. Consumer discretionary stocks, a group that includes luxury retailers and entertainment companies, dropped the most. Industrial and technology companies also fell, and riskier, small-company stocks resumed a sell-off after rebounding on Monday.

Instead, investors bought safe and steady stocks. Utility and telecom stocks, which investors favor when the markets get choppy, rose the most in the S&P 500. U.S. government bonds also rallied, pushing the yield on the 10-year Treasury note to its lowest in more than six months, another sign that investors were favoring safer assets.

"There's some internal self-correction and rotation going on beneath the surface," said Jim Russell, a regional investment director at US Bank. Russell said stocks were getting closer to being fairly valued.

The Standard & Poor's 500 index fell 8.92 points, or 0.5 percent, to 1,888.53. The Dow Jones industrial average dropped 101.47 points, or 0.6 percent, to 16,613. The Nasdaq composite fell 29.54 points, or 0.7 percent, to 4,100.63.

The Russell 2000 index, a gauge of small-company stocks, fell 18.02 points, or 1.6 percent, to 1,103.14. The index has slumped 9 percent since peaking March 4 as investors sold riskier stocks.

Bonds benefited from investor's appetite for less risky assets.

The yield on the 10-year Treasury note, which falls when the price of the bond rises, dropped to the lowest it's been since October. The yield declined to 2.54 percent from 2.61 percent late Tuesday.

"People are rotating out of equities and into bonds," said Mark Pibl, U.S. fixed income strategists at Canaccord Genuity, a wealth manager, of Wednesday's move in the bond market.

Bonds have surged this year because inflation remains low and investors have become concerned that the economy may not grow as quickly as previously anticipated. Barclays' index of Treasury bonds maturing in 20 years or more has gained 10.6 percent, outperforming the 2.2 percent rise for the S&P 500 stock index.

In corporate news, Fossil, a maker of watches, jewelry and accessories, was the biggest decliner in the S&P 500.

Fossil fell $11.45, or 10.3 percent, to $100 after the company said late Tuesday that its first-quarter net income fell 8 percent, despite sales gains across all its business segments. The results beat market expectations, but the company gave a weak forecast.

Deere was another company to decline after reporting earnings.

The maker of farm equipment fell $1.91, or 2 percent, to $91.70 after the company reported a decline in second-quarter net income because of weaker demand for its products. The company also cut its full-year sales forecast.

Almost all of the companies in the S&P 500 have finished reporting their first-quarter earnings. Earnings rose 3.3 percent for the period, according to S&P Capital IQ. That compares with growth of almost 8 percent in the fourth quarter.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -167.16 points or ▼ -1.01% on Thursday, 15 May 2014
Symbol …........Last …......Change.......
Dow_Jones 16,446.81 ▼ -167.16 ▼ -1.01%
Nasdaq____ 4,069.29 ▼ -31.33 ▼ -0.76%
S&P_500___ 1,870.85 ▼ -17.68 ▼ -0.94%
30_Yr_Bond____ 3.34 ▼ -0.04 ▼ -1.13%

NYSE Volume 3,543,273,500
Nasdaq Volume 2,053,214,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,840.89 ▼ -37.60 ▼ -0.55%
DAX_____ 9,656.05 ▼ -98.34 ▼ -1.01%
CAC_40__ 4,444.93 ▼ -56.11 ▼ -1.25%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,490.20 ▲ 14.30 ▲ 0.26%
Shanghai_Comp 2,024.97 ▼ -22.94 ▼ -1.12%
Taiwan_Weight 8,880.65 ▲ 5.49 ▲ 0.06%
Nikkei_225___ 14,298.21 ▼ -107.55 ▼ -0.75%
Hang_Seng.__ 22,730.86 ▲ 148.09 ▲ 0.66%
Strait_Times.__ 3,272.49 ▲ 13.40 ▲ 0.41%
NZX_50_Index_ 5,194.96 ▼ -18.40 ▼ -0.35%

http://finance.yahoo.com/news/dow-dips-worst-day-5-213216227.html

Dow dips to worst day in 5 weeks; bond prices jump

Investors pull back from stocks after weak Wal-Mart results; mixed economic news; bonds rise
Associated Press
By Ken Sweet, AP Markets Writer

NEW YORK (AP) -- Investors retreated from stocks Thursday, leading the Dow Jones industrial average to its worst day in five weeks, after disappointing earnings from Wal-Mart and mixed news about the global economy.

Financial markets reflected broader investor jitters: government bonds rose, small-company stocks continued to plunge, and safe, slower-growth industries fared the best.

The latest economic data from the United States was mixed: Factory output fell. But fewer people sought unemployment benefits, evidence that hat solid hiring should continue. The news was more disappointing in Europe, where the economy of the 18 countries that share the euro saw output rise just 0.2 percent in the first quarter.

"People are just a little bit nervous about the entire global economic environment at the moment," said Ryan Larson, head of U.S. equities at the Royal Bank of Canada.

The Dow lost 167.16 points, or 1 percent, to 16,446.81. The Standard & Poor's 500 index fell 17.68 points, or 0.9 percent, to 1,870.85 and the Nasdaq composite fell 31.33 points, or 0.8 percent, to 4,069.29.

The Dow was dragged down by Wal-Mart, which fell $1.91, or 2.4 percent, to $76.83. The company reported lower earnings for its most recent quarter and warned that the current one was not expected to be much better.

The company, like many other retailers, blamed harsh winter weather. Department store operator Kohl's fell after announcing a drop in first-quarter earnings. Kohl's ended down $1.82, or 3.4 percent, to $52.21.

One bright spot was Cisco Systems. The telecommunications equipment maker jumped $1.37, or 6 percent, to $24.18. It was one of only two stocks in the Dow 30 to rise. Cisco reported earnings that were better than expected.

The broader stock sell-off comes two days after the Dow and S&P 500 hit record highs.

But the bigger story of what happened on Wall Street was in the bond market.

Bonds had their best day since early February, when measured by the Barclays U.S. Aggregate bond index, a broad gauge of the entire market, from Treasurys to corporate debt.

The yield on the U.S. 10-year note hit its lowest level in 10 months, dropping to 2.49 percent. At the beginning of the week, the 10-year had a yield of 2.66 percent. That is an extraordinary move for bond yields.

Typically, such a movement in the bond market would signal that there was something wrong with the U.S. economy. But Thursday's economic news was mixed at worst. Factory production declined in April. But the number of Americans seeking unemployment benefits fell to a seven-year low last week.

To add to the mystery, U.S. consumer prices rose at their fastest pace in nearly a year in April, the Labor Department said Thursday. The consumer price index, an often-quoted barometer of inflation in the U.S., rose by 0.3 percent last month due to higher food and gas prices. Inflation is on pace to rise 2 percent this year. While not alarming, it is noticeably higher than a year ago.

In a normal environment, investors don't buy bonds at 2.5 percent interest if inflation is running at 2 percent. It's just not worth it.

"It's really confusing, to be honest," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago, who oversees $66 billion in assets. "The bond market thinks there's a risk out there that the stock market isn't seeing."

One explanation is that foreign buyers raced into the U.S. Treasury market looking for safety, causing a distorted move in prices, traders said. Despite their fall, yields of U.S. government bonds are higher than those of some developed economies.

"This flight to quality is overwhelming bond investors," said Tom di Galoma, a fixed-income trader at ED&F Man Capital.

Telecommunications stocks, a popular safety play, did rise Thursday, but barely. AT&T rose 13 cents, or 0.4 percent, to $36.52 while Verizon Communications fell 5 cents, or 0.1 percent, to $47.96.

Once again, investors sold riskier stocks in the technology and biotechnology industries. Facebook, Netflix and Biogen, all companies who have seen large waves of selling in the last several weeks, fell 2 percent or more.

The Russell 2000 index, made up of mostly small, riskier companies, fell 0.7 percent Thursday. The index is down 9.3 percent from its March 4 high, and at one point Thursday, dipped into what is known on Wall Street as a correction. That is when a stock or index falls 10 percent or more from a recent peak.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 44.5 points or ▲ 0.27% on Friday, 16 May 2014
Symbol …........Last …......Change.......
Dow_Jones 16,491.31 ▲ 44.50 ▲ 0.27%
Nasdaq____ 4,090.59 ▲ 21.30 ▲ 0.52%
S&P_500___ 1,877.86 ▲ 7.01 ▲ 0.37%
30_Yr_Bond____ 3.35 ▲ 0.01 ▲ 0.30%

NYSE Volume 3,169,126,500
Nasdaq Volume 1,718,499,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,855.81 ▲ 14.92 ▲ 0.22%
DAX_____ 9,629.10 ▼ -26.95 ▼ -0.28%
CAC_40__ 4,456.28 ▼ -44.76 ▼ -0.99%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,458.90 ▼ -31.30 ▼ -0.57%
Shanghai_Comp 2,026.50 ▲ 1.53 ▲ 0.08%
Taiwan_Weight 8,888.45 ▲ 7.80 ▲ 0.09%
Nikkei_225___ 14,096.59 ▼ -201.62 ▼ -1.41%
Hang_Seng.__ 22,712.91 ▼ -17.95 ▼ -0.08%
Strait_Times.__ 3,262.59 ▼ -9.90 ▼ -0.30%
NZX_50_Index_ 5,186.19 ▼ -8.77 ▼ -0.17%

http://finance.yahoo.com/news/stock-market-manages-slight-gain-210048496.html

Stock market manages slight gain after choppy day

Stocks eke out gain after choppy day; Verizon climbs after Buffett reveals stake
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Better results from retailers and demand for telecommunications shares market helped push the stock market to a small gain on Friday.

Telecoms rose the most among the 10 industries in the Standard & Poor's 500 index. Their jump followed news that Warren Buffett's Berkshire Hathaway made a new investment in Verizon Communications. Other big-name investors, including John Paulson, also reportedly took stakes. Verizon climbed $1.11, or 2 percent, to $49.07.

Major indexes spent much of the day meandering around the breakeven mark. Stocks started higher at the open but reversed course after a report on consumer confidence showed a drop last month. The market took a sudden turn up in the last hour of trading, turning minor losses into minor gains.

"We've had a lot of starts and stops recently," said Dan Cook, a director at Nadex, an exchange in Chicago. "We're at high levels, so it's a time to be cautious."

The S&P 500 index gained 7.01 points, or 0.4 percent, to close at 1,877.86.

The Dow Jones industrial average rose 44.50 points, or 0.3 percent, to end at 16,491.31. The Nasdaq composite index rose 21.30 points, or 0.5 percent, to finish at 4,090.59.

Investors said the choppy trading reflects a larger uncertainty. The stock market is trading near record highs, but investors see little reason for excitement. Earlier in the week, the S&P 500 index notched all-time highs two days in a row. On Thursday, mixed economic news and a weak earnings report from Wal-Mart Stores drove the market to its worst day in more than a month.

Jim Paulsen, chief investment strategist at Wells Capital Management in Minneapolis, said traders who hunt for patterns in the market's moves have spotted some warning signs worth noting. For instance, the yield on the 10-year Treasury note recently dropped to its lowest point this year. That's usually a sign of an economic slowdown.

"But most of the economic reports are coming in better than people thought," Paulsen said. "If you only paid attention to the bond market over the past few years, you'd think the world was going to end. Not the stock market. Which one was right?"

Before the market opened Friday, the government reported that builders started work on more houses in April, as U.S. construction surged to its highest pace in six months. Nearly all of that increase, however, came from new apartment buildings, a sign that Americans are still struggling to buy single-family homes.

Nordstrom surged $9.06, or 15 percent, to $70.55, the biggest gain in the S&P 500. The department store chain reported higher quarterly profits than analysts had expected late Thursday, as better sales at its discount Rack stores boosted results.

J.C. Penney surged $1.36, or 16 percent, to $9.73. Rising sales helped the retailer turn in better results than analysts expected late Thursday. Sales at stores open at least a year — a key gauge of a chain's health — increased more than 6 percent in its first quarter.

3388