NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -8.7 points or ▼ -0.05% on Thursday, 4 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,069.58 ▼ -8.70 ▼ -0.05%
Nasdaq____ 4,562.29 ▼ -10.28 ▼ -0.22%
S&P_500___ 1,997.65 ▼ -3.07 ▼ -0.15%
30_Yr_Bond____ 3.20 ▲ 0.05 ▲ 1.55%

NYSE Volume 3,068,667,500
Nasdaq Volume 1,702,831,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,877.97 ▲ 4.39 ▲ 0.06%
DAX_____ 9,724.26 ▲ 97.77 ▲ 1.02%
CAC_40__ 4,494.94 ▲ 73.07 ▲ 1.65%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,632.10 ▼ -22.50 ▼ -0.40%
Shanghai_Comp 2,306.86 ▲ 18.23 ▲ 0.80%
Taiwan_Weight 9,428.89 ▼ -21.46 ▼ -0.23%
Nikkei_225___ 15,676.18 ▼ -52.17 ▼ -0.33%
Hang_Seng.__ 25,297.92 ▼ -20.03 ▼ -0.08%
Strait_Times.__ 3,346.34 ▼ -2.43 ▼ -0.07%
NZX_50_Index_ 5,228.55 ▲ 4.15 ▲ 0.08%

http://finance.yahoo.com/news/global-stocks-lackluster-ecb-policy-081254048.html

Stocks flat as oil drop offsets ECB stimulus
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” A slump in oil prices weighed on the stock market Thursday, pushing the Standard & Poor's 500 index to its third straight loss.

Stocks had started the day higher after the European Central Bank surprised investors by announcing that it had cut its benchmark interest rate to a record low and planned to purchase asset-backed securities in an effort to stimulate the region's ailing economy. Investors were also cheered by some encouraging reports on the U.S. economy.

The gains didn't hold though and the market fell back during afternoon trading, as the falling price of oil pushed energy stocks lower. Traders may also have been reluctant to place big bets ahead of Friday's closely watched government jobs report.

Stocks have made a sluggish start to September, historically the worst month for the market, after surging in August. The S&P 500 gained 3.8 percent last month, climbing to a record high as it logged its best performance since February.

"The market did respond to the ECB news this morning, and certainly to the good economic news, but there are definite signs that this market is stretched," said Peter Cardillo, chief market economist at Rockwell Global Capital.

The S&P 500 index fell three points, or 0.2 percent, to 1,997.65. The Dow Jones industrial average fell eight points, or 0.1 percent to 17,069.58 points. The Nasdaq composite dropped 10.28 points, or 0.2 percent, to 4,562.29.

Stocks climbed in early trading, following a move higher by major indexes in Europe, after the ECB's surprise announcement. Some analysts had been expecting the central bank to say it was preparing a new stimulus program, but most did not expect an announcement as early as this week.

The ECB said it had trimmed its benchmark interest rate to 0.05 percent from a previous record low of 0.15 percent. In a news conference, ECB President Mario Draghi also said the bank would also start purchases of private sector financial assets in October. The program aims to make credit cheaper, helping investment and growth at a time when the economy of the 18-country eurozone has stalled.

As well as boosting stocks, the announcement caused the euro to slump against the dollar, pushing it to its lowest level against the U.S. currency in more than a year. Europe's single currency, which has been in retreat over the past few weeks on expectations that the ECB may pursue further stimulus measures, fell 1.5 percent to $1.29 per euro.

There was also encouraging news for stock investors on the U.S. economy.

U.S. services firms expanded in August at the fastest pace on record. The Institute for Supply Management said Thursday that its services index rose to 59.6 last month from 58.7 in July. The August figure is the highest recorded since the measure was introduced in January 2008.

Hiring is also picking up and U.S. businesses added jobs at a healthy pace in August, according to a private survey, the fifth straight month of solid gains. On Friday, the government will issue the August jobs report. The forecast is that U.S. employers added 220,000 jobs and that the unemployment rate dipped to 6.1 percent from 6.2 percent.

"The backdrop is looking pretty rosy for the U.S. economy and we think that this could translate into (higher) corporate profits through stronger revenue," said David Lebovitz, a global market strategist at JPMorgan Asset Management.

Despite the encouraging signs, the stock market started giving up its gains in afternoon trading Thursday, before ending the day with a small loss.

Energy stocks were the biggest drag on the market, sagging to their biggest one-day loss in a month, as the price of oil slumped. Energy stocks dropped 1.3 percent and the price of oil closed the day down 1.1 percent at $94.45 a barrel.

Oil fell after government data showed that U.S. supplies fell less than expected last week. The price of oil, which is traded in dollars, was also hit by the strengthening U.S. currency.

Among other stocks making big moves, PVH was the biggest gainer in the S&P 500.

The company, which owns of the Calvin Klein and Tommy Hilfiger brands, surged $11.25, or 9.6 percent, to $128.30, after reporting earnings that exceeded the expectations of Wall Street analysts.

Government bond prices fell. The yield on the 10-year Treasury note, which moves inversely to its price, climbed to 2.45 percent, from 2.40 percent late Wednesday.

In metals trading, gold closed down $3.80, or 0.3 percent, at $1,266.50 an ounce. Silver slipped 5.1 cents, or 0.3 percent, to $19.14 an ounce. Copper prices rose, climbing to 2.4 cents, or 0.8 percent, to $3.15 per pound.

In addition to oil, other energy prices fell. Heating oil dropped 3 cents to $2.836 a gallon and natural gas declined 2.8 cents to $3.819 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 67.78 points or ▲ 0.40% on Friday, 5 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,137.36 ▲ 67.78 ▲ 0.40%
Nasdaq____ 4,582.90 ▲ 20.61 ▲ 0.45%
S&P_500___ 2,007.71 ▲ 10.06 ▲ 0.50%
30_Yr_Bond____ 3.24 ▲ 0.03 ▲ 1.00%

NYSE Volume 2,815,743,000
Nasdaq Volume 1,621,801,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,855.10 ▼ -22.87 ▼ -0.33%
DAX_____ 9,747.02 ▲ 22.76 ▲ 0.23%
CAC_40__ 4,486.49 ▼ -8.45 ▼ -0.19%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,598.90 ▼ -33.20 ▼ -0.59%
Shanghai_Comp 2,326.43 ▲ 19.57 ▲ 0.85%
Taiwan_Weight 9,407.94 ▼ -20.95 ▼ -0.22%
Nikkei_225___ 15,668.68 ▼ -7.50 ▼ -0.05%
Hang_Seng.__ 25,240.15 ▼ -57.77 ▼ -0.23%
Strait_Times.__ 3,341.73 ▼ -4.61 ▼ -0.14%
NZX_50_Index_ 5,253.87 ▲ 25.32 ▲ 0.48%

http://finance.yahoo.com/news/asia-stocks-fluctuate-ahead-us-jobs-report-055310513.html

S&P 500 hits record on dividend stocks, Ukraine

S&P 500 hits record as investors buy dividend-rich utility stocks; Ukraine outlook improves
Associated Press
By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- A surge in dividend-rich utility stocks helped push the Standard & Poor's 500 index to a record Friday.

Investors bought up the stocks after the government reported that U.S. employers added fewer jobs than forecast for August. That boosted demand for bonds and pushed down their yields. In turn, stocks with big dividends became more attractive to investors seeking income-paying securities.

The stock market also got a lift from a cease-fire agreement between Ukraine and Russian-backed separatists, aimed at bringing an end to nearly five months of fighting. Stocks had slumped at the beginning of August amid worries that the conflict in Ukraine would spiral out of control and inflame tensions between Russia and the West.

"That development is a positive," said Jerry Braakman, chief investment officer of First American Trust. "Further sanctions on Russia, and excluding them from the Western economies, sets global trade back."

The S&P 500 index rose 10.06 points to 2,007.71, surpassing its previous record close of 2,003.37, set Aug. 29. The index has now logged 33 all-time highs this year.

The Dow Jones industrial average gained 67.78 points, or 0.4 percent, to 17,137.36. The Nasdaq composite gained 20.61 points, or 0.5 percent, to 4,582.90.

Stocks had started the day lower after a disappointing jobs report.

U.S. employers added 142,000 jobs in August, snapping a six-month streak of hiring above 200,000 and posting the smallest gain in eight months, the Labor Department said Friday. Economists had expected employers to add 220,000 jobs.

Many analysts reasoned that, while the report was disappointing, the slowdown in the pace of hiring was not drastic enough to suggest that the overall trend had changed. Friday's news was also at odds with reports earlier this week that showed the economy is still strengthening. Construction and the service industry, for example, were strong.

"I would avoid reading too much into one number," said Russ Koesterich, chief investment strategist at BlackRock. "This is an outlier....the weight of evidence suggests that the U.S. is going to have a decent third quarter."

Bond prices initially rose on the disappointing hiring news. The yield on the 10-year Treasury note, which moves in the opposite direction of price, dropped as low as 2.41 percent, before gradually giving up most of its gains throughout the day and edging up to 2.46 percent from 2.45 percent on Thursday. The yield has slumped from 3 percent at the start of this year.

The early drop in bond yields boosted demand for utility stocks. The lower bond yields are, the more attractive dividend-rich utilities appear to investors who are looking for an income. The slump in bond yields this year has helped make the utilities sector the second-best performer in the S&P 500 index, with a gain of 14 percent.

Among individual stocks making big moves Friday, Vertex Pharmaceuticals was the biggest gainer in the S&P 500 index.

The drugmaker's stock rose $3.49, or 3.8 percent, to $95.04 after analysts at Goldman Sachs raised their rating on the stock to "buy" from "neutral," citing the outlook for the company's cystic fibrosis treatment.

Michael Kors was the biggest decliner in the index.

The clothing retailer fell $3.58, or 4.5 percent, to $76.39 after Sportswear Holdings, one of its principal founding stockholders, said it was selling its remaining shares in the luxury retailer. Sportswear Holdings had a 5.7 percent stake in the company.

In currency trading, the euro rebounded from a slump on Thursday, when the European Central Bank surprised markets by cutting interest rates and announcing a new stimulus program. Europe's single currency rose 0.1 percent to $1.2952 Friday. The dollar was at 105.07 yen after rising as high as 105.71 yen, the highest level since October 2008.

Oil fell as the cease-fire between Ukraine and pro-Russian separatists removed some of the so-called fear premium.

Benchmark crude oil closed down $1.16, or 1.2 percent, to $93.29 a barrel in New York after falling $1.09 on Thursday. In other energy trading on the New York Mercantile Exchange wholesale gasoline dropped 1.7 cents to $2.583 a gallon, heating oil lost 1.7 cents to $2.819 a gallon and natural gas fell 2.6 cents to $3.793 per 1,000 cubic feet.

Most metals rose. Gold closed up 80 cents, or 0.1 percent, at $1,267.30 an ounce. Silver edged up 1.8 cents, or 0.1 percent, to $19.16 an ounce. Copper prices also gained, climbing to 1.8 cents, or 0.6 percent, to $3.17 per pound.

Chinese e-commerce company Alibaba Group said after the stock market close that it was seeking to raise up to $24.3 billion in its upcoming IPO, an amount that would be the most ever raised by a company heading into its stock market debut.

3237

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -25.94 points or ▼ -0.15% on Monday, 8 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,111.42 ▼ -25.94 ▼ -0.15%
Nasdaq____ 4,592.29 ▲ 9.38 ▲ 0.20%
S&P_500___ 2,001.54 ▼ -6.17 ▼ -0.31%
30_Yr_Bond____ 3.22 ▼ -0.01 ▼ -0.43%

NYSE Volume 2,772,352,250
Nasdaq Volume 1,649,360,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,834.77 ▼ -20.33 ▼ -0.30%
DAX_____ 9,758.03 ▲ 11.01 ▲ 0.11%
CAC_40__ 4,474.93 ▼ -11.56 ▼ -0.26%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,578.90 ▼ -20.00 ▼ -0.36%
Shanghai_Comp 2,326.43 ▲ 19.57 ▲ 0.85%
Taiwan_Weight 9,407.94 ▼ -20.95 ▼ -0.22%
Nikkei_225___ 15,705.11 ▲ 36.43 ▲ 0.23%
Hang_Seng.__ 25,190.45 ▼ -49.70 ▼ -0.20%
Strait_Times.__ 3,335.19 ▼ -6.54 ▼ -0.20%
NZX_50_Index_ 5,261.75 ▲ 7.88 ▲ 0.15%

http://finance.yahoo.com/news/asian-stocks-meander-mixed-china-031206866.html

Stocks fall as oil price slump hits energy sector
Associated Press
By KEN SWEET

NEW YORK (AP) ”” A retreat in oil and energy stocks pulled the rest of the U.S. stock market mostly lower Monday.

Campbell Soup declined after the company said its 2015 profits would miss analysts' expectations. Yahoo, which owns a stake in Alibaba, jumped in anticipation of the giant Chinese technology company going public.

The Dow Jones industrial average fell 25.94 points, or 0.2 percent, to 17,111.42. The Standard & Poor's 500 index lost 6.17 points, or 0.3 percent, to 2,001.54 and the Nasdaq composite added 9.39 points, or 0.2 percent, to 4,592.29.

Energy stocks were by far the biggest drag on the market. The energy component of the S&P 500 fell 1.6 percent, compared to the modest 0.3 percent decline in the main index.

Exxon Mobil, the world's largest publicly traded oil company, dropped $1.49, or 1.5 percent, to $97.77. It was the biggest loser among the Dow's 30 members.

The decline in energy stocks was linked to a recent sell-off in the price of oil. Benchmark U.S. crude oil for October delivery fell 63 cents, or 0.7 percent, to $92.66 a barrel, the lowest price since January.

Oil prices have fallen for three days straight as geopolitical worries in Ukraine and particularly in Iraq have eased. Also impacting crude oil was a report out of China that showed manufacturing in the world's second-largest economy was slowing down.

"The market is trading lower on this subdued, weaker global outlook," said Jack Ablin, chief investment strategist at BMO Private Bank.

The three biggest decliners in the S&P 500 were oil drilling and exploration companies, which rely on high oil prices to justify pulling crude oil out of remote parts of the planet. Newfield Exploration, Nabors Industries, EOG Resources all fell 3 percent or more.

Some strategists say the decline in oil prices is likely to be temporary.

"I suspect oil cannot fall further than $90 a barrel," said Paul Christopher, a chief international investment strategist at Wells Fargo Advisors, who focuses on the oil market. "Saudi Arabia and other OPEC members will start cutting production if oil continues to fall like this."

Another international concern for investors is in Europe, where a drive for Scottish independence seems to be gaining momentum. Once considered a far-flung idea, a recent poll by YouGov showed rising support for a break from the United Kingdom.

Scotland's economy is not large enough to derail the region's economy, but a breakup of the U.K. could potentially be messy for investors, strategists say. Which of the U.K.'s bonds would go to Scotland? Can Scotland's economy function on its own, while still using the British pound? Who would take control of the oil reserves north of Scotland?

"A vote for independence or fear of that outcome may roil financial markets over the next two weeks," Bill Stone, chief investment strategist at PNC Asset Management, wrote in an e-mail.

Stocks in London, particularly those with links to Scotland, fell. Britain's FTSE 100 index lost 0.3 percent. Investors also sold the British pound, which fell to lowest level in nearly a year.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.47 percent. In metals trading, the price of gold fell $13 to $1,254.30 an ounce, silver fell 20 cents to $18.96 an ounce and copper was flat at $3.17 a pound.

In other energy trading, Brent crude, a benchmark for international crudes imported by U.S. refiners, slipped 62 cents to $100.20 a barrel in London. Wholesale gasoline lost 2.15 cents to $2.562 a gallon and natural gas gained 8.3 cents to $3.876 per 1,000 cubic feet.

Among individual stocks:

””China's Alibaba Group is seeking to raise up to $24.3 billion from its initial public offering, which would be the largest of all time. Alibaba Group is expected to make its long-awaited debut on the New York Stock Exchange later this month. Yahoo was an early investor in Alibaba and owns 23 percent of the company and is expected to be the largest seller of shares in Alibaba's IPO. Yahoo jumped $2.22, or 5.5 percent, to $41.81.

””Campbell Soup fell $1.15, or 2.5 percent, to $43.39 after the company reported sales that were weaker than analysts were expecting. Campbell also expects its earnings to be slow next year.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -97.55 points or ▼ -0.57% on Tuesday, 9 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,013.87 ▼ -97.55 ▼ -0.57%
Nasdaq____ 4,552.29 ▼ -40.00 ▼ -0.87%
S&P_500___ 1,988.44 ▼ -13.10 ▼ -0.65%
30_Yr_Bond____ 3.23 ▲ 0.01 ▲ 0.31%

NYSE Volume 2,854,040,000
Nasdaq Volume 1,928,742,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,829.00 ▼ -5.77 ▼ -0.08%
DAX_____ 9,710.70 ▼ -47.33 ▼ -0.49%
CAC_40__ 4,452.37 ▼ -22.56 ▼ -0.50%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,608.20 ▲ 29.30 ▲ 0.53%
Shanghai_Comp 2,326.53 ▲ 0.09 ▲ 0.00%
Taiwan_Weight 9,434.77 ▲ 26.83 ▲ 0.29%
Nikkei_225___ 15,749.15 ▲ 44.04 ▲ 0.28%
Hang_Seng.__ 25,190.45 ▼ -49.70 ▼ -0.20%
Strait_Times.__ 3,342.96 ▲ 7.77 ▲ 0.23%
NZX_50_Index_ 5,243.70 ▼ -18.05 ▼ -0.34%

http://finance.yahoo.com/news/asian-stock-markets-muted-yen-050819015.html

Stocks fall for second day; Apple slips

US stocks fall moderately; Apple product announcements drag down Garmin, eBay and Fossil
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks fell for a second straight day Tuesday as investors were left unimpressed by Apple's latest batch of product announcements.

Negative news out of Home Depot and McDonald's also weighed on the market.

The Dow lost 97.55 points, or 0.6 percent, to 17,013.87, its biggest one-day drop in a month. The Standard & Poor's 500 index lost 13.10 points, or 0.7 percent, to 1,988.44 and the Nasdaq composite lost 40 points, or 0.9 percent, to 4,552.29.

Investors had little in the way of economic data to digest, so trading was largely dominated by the news out of Apple. The California-based tech titan announced an updated version of its iPhone, a smartwatch as well as payment system to compete with traditional debit and credit cards.

The iPhone 6 and its various iterations were well received by investors, as was the payment system, which would allow a shopper to purchase a product simply by holding his or her iPhone close to a sensor. Apple had been up as much as 4 percent after the products were unveiled.

The smartwatch left some investors scratching their heads, however, and the Apple rally quickly faded. The watch doesn't come out until next year, costs $350, and would require an iPhone near it to work. It was hardly the new product category that investors had hoped it might be.

"I don't know if they're swimming up the right river with this watch," said Dan Morgan, a senior portfolio manager at Synovus Trust Company, who has been a long-time investor in Apple shares. "It looks like an add-on product, not something that has the potential to be a phenomenon."

At the end of the day, Apple fell 37 cents, or 0.4 percent, to $97.99.

Apple is often volatile on days it announces products. Yet while the decline in Apple's own stock was modest, its product news had ripple effects in various parts of the market.

GPS device maker Garmin and watch company Fossil fell 3.5 percent and 2 percent, respectively. Both companies are looking to claim a stake in smartwatch industry, with Garmin heavily invested in watches used by athletes to track their performance. Fossil recently announced a partnership with Intel to develop smartwatches.

Investors saw Apple's payment system as a direct competitor to eBay's PayPal division, causing eBay to fall sharply in afternoon trading. EBay closed down $1.50, or 3 percent, to $52.73.

Other payment system companies, such as Alliance Data Systems, also took a beating. Google, who is been trying to get into the mobile payment market as well as competes directly with Apple in phones, fell $8.71, or 2 percent, to $581.01.

Unrelated to the Apple announcement, the news out of Home Depot didn't help the market either. Home Depot fell $1.89, or 2 percent, to $88.93 after the home improvement chain said hackers had broken into its in-store payment systems.

Home Depot's problem follows a massive data breach at Target nearly a year ago, raising concerns it is likely other major retailers could be targeted as well.

McDonald's, another Dow member, fell $1.41, or 1.5 percent, to $91.09 after the company announced that global sales fell nearly 4 percent in August. In the U.S., typically a steady market for the fast food giant, sales fell nearly 3 percent.

Investors also had their eyes on the currency market.

The dollar extended its rally, hitting 106.20 yen, the highest since September 2008. Compared with other major currencies hurt by bad economic news in their home countries, the dollar appears attractive. The Federal Reserve is expected to end part of its stimulus program by October and is considering rate hikes, signs of greater confidence in the U.S. economic recovery.

If the dollar were to continue to rally, it may start to hurt U.S. corporate profits. A higher dollar makes U.S.-made products more expensive abroad, which makes them harder to sell compared with foreign-made goods. Investors don't expect the dollar rally to continue over the long term, however.

"This could temporarily weigh on U.S. corporate profits, but U.S. companies generate so much business domestically that any impact would be modest," said David Lebovitz, a global market strategist at J.P. Morgan Funds.

In other markets, bond prices fell slightly. The yield on the 10-year Treasury note rose to 2.50 percent.

The price of U.S. oil steadied after three days of steep drops. Benchmark U.S. crude rose 9 cents to close at $92.75 a barrel on the New York Mercantile Exchange.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell sharply on further predictions of lower global demand. Brent fell $1.04 to close at $99.16 on the ICE Futures exchange in London, the lowest close since May 2013.

In metals trading, the price of gold fell $5.80 to $1,248.50 an ounce, silver fell four cents to $18.92 an ounce and copper fell seven cents to $3.10 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 54.84 points or ▲ 0.32% on Wednesday, 10 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,068.71 ▲ 54.84 ▲ 0.32%
Nasdaq____ 4,586.52 ▲ 34.24 ▲ 0.75%
S&P_500___ 1,995.69 ▲ 7.25 ▲ 0.36%
30_Yr_Bond____ 3.27 ▲ 0.04 ▲ 1.11%

NYSE Volume 2,911,345,500
Nasdaq Volume 1,784,654,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,830.11 ▲ 1.11 ▲ 0.02%
DAX_____ 9,700.17 ▼ -10.53 ▼ -0.11%
CAC_40__ 4,450.79 ▼ -1.58 ▼ -0.04%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,574.40 ▼ -33.80 ▼ -0.60%
Shanghai_Comp 2,318.31 ▼ -8.22 ▼ -0.35%
Taiwan_Weight 9,357.61 ▼ -77.16 ▼ -0.82%
Nikkei_225___ 15,788.78 ▲ 39.63 ▲ 0.25%
Hang_Seng.__ 24,705.36 ▼ -485.09 ▼ -1.93%
Strait_Times.__ 3,338.63 ▼ -4.33 ▼ -0.13%
NZX_50_Index_ 5,236.66 ▼ -7.04 ▼ -0.13%

http://finance.yahoo.com/news/global-stocks-lower-growth-worries-083827151.html

US stocks end higher as Apple shares jump
Associated Press
By BERNARD CONDON

NEW YORK (AP) ”” U.S. stocks broke two days of losses on Wednesday as a jump in Apple shares helped push indexes higher.

Apple rose 3.1 percent, its biggest gain since April, a day after announcing updated versions of the iPhone, a new smartwatch and a mobile payment system. The company is the largest component of both the Standard & Poor's 500 and Nasdaq composite indexes.

Gains in the broad market were muted as investors fretted over the timing and pace of Federal Reserve increases in interest rates, which are widely expected next year.

"The economy is getting better, and that worries people," said John Manley, chief equity strategist at Wells Fargo Funds Management. "People are afraid the Fed will raise rates too quickly."

A drop in a key oil price to the lowest level since in nearly 1 ½ years also weighed on the market. Several oil companies fell. Chevron dropped 0.7 percent.

Apple made the biggest splash on a slow day for news. Investors scrambled to understand the impact of its new products on the fortunes of other companies, sending a number of stocks sharply higher, and others sharply lower.

EBay fell 3 percent over fears its PayPal division will lose business to Apple's new payment system. But GPS device maker Garmin reversed big losses from Tuesday with a gain of 4 percent as investors seemed to dismiss the threat from the Apple's smartwatch.

Apple closed at $101, up $3.01. It is has gained 26 percent since the beginning of the year.

The Dow Jones industrial average ended the day up 54.84 points, or 0.3 percent, to 17,068.71. The S&P 500 rose 7.25 points, or 0.4 percent, to 1,995.69.

The Nasdaq rose 34.24 points, or 0.8 percent, to 4,586.52. Apple comprises 8.5 percent of the tech-heavy index, so a big move in its stock price has an outsize influence on tech-heavy index.

Investors were questioning whether the U.S. Federal Reserve might raise its benchmark interest rate earlier than many had expected as the economy gains strength. In a note to clients Wednesday morning, Steven Ricchiuto, chief economist at Mizuho Securities, said he thinks the consensus over the timing of the first increase will soon shift to early next year, rather than over the summer.

"The worst things for stocks would be the Fed to raise rates sooner rather than later," said Ricchiuto in a phone interview.

Adding to the nervousness was a paper earlier this week from two San Francisco Fed economists that said the public appears to expect a "more accommodative" policy, meaning low rates for longer, than do Fed board members.

Investors will be watching a report on unemployment claims out Thursday and one on retail sales Friday for a read on the economy.

Also weighing on markets was a $1.12 drop in Brent crude to close at $98.04 a barrel, the lowest price since May 2013. It was the fifth straight drop for Brent crude, a benchmark for international oils used by many U.S. refineries.

The price of U.S. benchmark oil also fell to its lowest level since January after the Energy Department reported large increases in stocks of gasoline and diesel. Benchmark U.S. crude fell $1.08 cents to close at $91.67 a barrel on the New York Mercantile Exchange.

In other energy futures trading, wholesale gasoline fell 2.1 cents to close at $2.527 a gallon and natural gas fell 3 cents to close at $3.954 per 1,000 cubic feet.

Among stocks making big moves:

”” Krispy Kreme Doughnuts fell 54 cents, or 3 percent, to $17.07 after its second-quarter earnings fell short of analysts' expectations. The stock is down 12 percent since the start of the year.

”” Palo Alto Networks rose $9.47, or 11 percent, to $98.75 after the security-software maker forecast healthier revenue in its first quarter.

The price of the 10-year Treasury note fell. The yield rose to 2.54 percent from 2.50 percent on Tuesday.

In metals trading, the price of gold fell $3.20 to $1,245.30 an ounce. Silver was flat at $18.93 an ounce and copper edged up a penny to $3.11 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -19.71 points or ▼ -0.12% on Thursday, 11 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,049.00 ▼ -19.71 ▼ -0.12%
Nasdaq____ 4,591.81 ▲ 5.28 ▲ 0.12%
S&P_500___ 1,997.45 ▲ 1.76 ▲ 0.09%
30_Yr_Bond____ 3.25 ▼ -0.01 ▼ -0.46%

NYSE Volume 2,939,880,500
Nasdaq Volume 1,688,450,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,799.62 ▼ -30.49 ▼ -0.45%
DAX_____ 9,691.28 ▼ -8.89 ▼ -0.09%
CAC_40__ 4,440.90 ▼ -9.89 ▼ -0.22%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,546.90 ▼ -27.50 ▼ -0.49%
Shanghai_Comp 2,311.68 ▼ -6.63 ▼ -0.29%
Taiwan_Weight 9,322.95 ▼ -34.66 ▼ -0.37%
Nikkei_225___ 15,909.20 ▲ 120.42 ▲ 0.76%
Hang_Seng.__ 24,662.64 ▼ -42.72 ▼ -0.17%
Strait_Times.__ 3,347.28 ▲ 8.65 ▲ 0.26%
NZX_50_Index_ 5,262.32 ▲ 25.67 ▲ 0.49%

http://finance.yahoo.com/news/global-stocks-lower-growth-worries-083827151.html

Stocks end mixed; Health care stocks slump

Stocks extend sluggish start to September, close mixed; Lululemon climbs on earnings
Associated Press
By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- A sluggish September continued for U.S. stocks as investors assessed the outlook for interest rates, the latest sanctions against Russia and volatile energy prices.

Stocks ended the day mixed after gains for dividend-rich utilities stocks largely offset a slump in health care companies. Lululemon, the high-end yoga apparel maker, surged after reporting earnings that surpassed analyst's forecasts.

The stock market has had a slow start to the month, and the Standard & Poor's is on track to end the week with a loss for the first time in six weeks. Investors are struggling to find an impetus to push prices higher with the market close to all-time highs.

"The market might just be pausing here to digest and see what we have to propel it one way or the other," said Jeff Morris, Head of U.S. Equities at Standard Life Investments.

The Standard & Poor's 500 index rose 1.76 points, or 0.1 percent, to 1,997.45. The Dow Jones industrial average dropped 19.71 points, or 0.1 percent, to 17,049. The Nasdaq composite rose 5.28 points, or 0.1 percent, to 4,591.81.

Stocks started the day lower, led by a big decline for energy stocks as the price of oil extended its declines from a day earlier. Oil futures turned higher throughout the morning as traders judged that new sanctions against Russia over its involvement in Ukraine might crimp supplies. As oil prices rebounded, so did energy stocks.

The price of oil rose $1.16 to close at $92.83 a barrel on the New York Mercantile Exchange, after dropping close to $90 a barrel in early trading.

The stock market gains were led by utilities, which climbed 0.9 percent.

Health care stocks fell the most, declining 0.3 percent. The industry has been the best performing sector this year, climbing 15.5 percent, compared to a gain of 8.1 percent for the broader index.

The Federal Reserve is never far from investors' minds, and many are already looking forward to next week's meeting of policy makers. The Fed is currently winding down its economic stimulus measures, and investors will be expecting an update on the economy and more insight into when the central bank might begin raising interest rates. The Fed concludes its latest two-day policy meeting next Wednesday.

"Interest rates have not been a headwind (for stocks) for some time now," said Jim Russell, a regional investment director at USBank. "We are entering into a period now where they will have to be considered again."

In currency trading, the dollar continued its ascent against the Japanese yen. The U.S. currency is at its highest level in six years against the yen. On Thursday one dollar bought 107.30 yen. The dollar fell to $1.292 against the euro.

Government bond prices were little changed. The yield on the 10-year Treasury note, which rises when prices fall, rose to 2.55 percent from 2.54 percent on Wednesday.

The price of gold fell $6.30 to $1,239 an ounce, silver fell 33 cents to $18.60 an ounce and copper fell two cents to $3.09 a pound.

In other energy trading, Brent crude, a benchmark for international oils used by many U.S. refineries, rose 4 cents to close at $98.08 on the ICE Futures exchange in London. Wholesale gasoline 0.3 cent to close at $2.524 a gallon, and natural gas fell 13.1 cents to close at $3.823 per 1,000 cubic feet after the Energy Department reported a larger-than-expected increase in natural gas inventories.

Among individual stocks making big moves:

”” Lululemon jumped $5.34, or 14 percent, to $43.73 after the troubled yoga-gear retailer reported earnings that beat analysts' expectations. The company also raised its full-year forecast. Lululemon has been trying to turn itself around since last spring, when it pulled one of its popular yoga pants from stores because they were too sheer.

”” Pandora Media rose 84 cents, or 3 percent, to $26.94. The streaming music company said it had agreed to a multiyear deal with BMG, a music rights management company. BMG represents the music rights of artists including John Legend and Bruno Mars.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -61.49 points or ▼ -0.36% on Friday, 12 September 2014
Symbol …........Last …......Change.......
Dow_Jones 16,987.51 ▼ -61.49 ▼ -0.36%
Nasdaq____ 4,567.60 ▼ -24.21 ▼ -0.53%
S&P_500___ 1,985.54 ▼ -11.91 ▼ -0.60%
30_Yr_Bond____ 3.35 ▲ 0.10 ▲ 2.98%

NYSE Volume 3,194,272,750
Nasdaq Volume 1,755,416,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,806.96 ▲ 7.34 ▲ 0.11%
DAX_____ 9,651.13 ▼ -40.15 ▼ -0.41%
CAC_40__ 4,441.70 ▲ 0.80 ▲ 0.02%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,532.30 ▼ -14.60 ▼ -0.26%
Shanghai_Comp 2,331.95 ▲ 20.27 ▲ 0.88%
Taiwan_Weight 9,223.18 ▼ -99.77 ▼ -1.07%
Nikkei_225___ 15,948.29 ▲ 39.09 ▲ 0.25%
Hang_Seng.__ 24,595.32 ▼ -67.32 ▼ -0.27%
Strait_Times.__ 3,345.55 ▼ -1.73 ▼ -0.05%
NZX_50_Index_ 5,223.96 ▼ -38.36 ▼ -0.73%

http://finance.yahoo.com/news/asia-stocks-muted-tokyo-edges-064147915.html

Stocks decline amid interest rate worries

Stocks decline amid interest rate worries; Treasurys drop for seventh straight day
Associated Press
By Steve Rothwell, AP Market Writers

NEW YORK (AP) -- The prospect of rising interest rates sent the stock market to its first weekly loss since early August.

The Standard & Poor's 500 index fell 11.91 points, or 0.6 percent, to end at 1,985.54 on Friday. The index was down 1.1 percent for the week.

Declines were led by utility companies and other stocks that pay high dividends. Those stocks have been in favor this year as investors hunt for other sources of income because bond yields have been low.

Now that the yield on the ultra-safe 10-year Treasury note has shot to 2.61 percent — its highest level in two months — investors are less willing to hold riskier stocks, even those paying a rich dividend.

The recent rise in bond yields was bolstered Friday by a report showing that U.S. retail sales rose faster last month than economists forecast. That reinforced expectations that the Federal Reserve may start hiking interest rates sooner than expected. The central bank has nearly finished winding down its stimulus program and policy makers start a two-day meeting on Tuesday.

The yield on the 10-year Treasury note has now climbed for seven straight days.

"As the economic data continues to move along this positive trajectory, interest rates are going to rise," said Quincy Krosby, a market strategist at Prudential Financial. "The market is going to have to accept that."

Other stock indexes fell Friday. The Dow Jones industrial average lost 61.49 points, or 0.4 percent, to 16,987.51 The Nasdaq composite dropped 24.21 points, or 0.5 percent, to 4,567.60.

The yield on the 10-year Treasury note has risen from 2.34 percent at the start of the month and is trading at its highest level since early July.

Higher interest rates mean that companies and consumers have to pay more to borrow, leaving them with lower profits and less money to spend.

Yet investors shouldn't jump the gun on concerns that rising rates will end the stock market's five-year bull run, said Randy Frederick, a trading strategist at Charles Schwab. As long as the economy is improving, stocks can continue to move higher.

"Generally, the market goes through a correction and then the bull market continues," said Frederick.

On Friday, high dividend payers, like utilities and telecoms stocks, sold off. Real estate investment trusts also slumped.

Utility stocks fell 1.8 percent, the biggest drop of the 10 sectors that make up the S&P 500. Energy stocks dropped 1.5 percent and phone company stocks slumped 1.2 percent.

The price of oil fell on concerns that global demand is falling while supplies remain ample. Benchmark U.S. crude fell 52 cents to close at $92.27 a barrel on the New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 12 cents to close at $97.96 in London. It was Brent's first close below $98 since April of 2013.

Wholesale gasoline fell 0.5 cent to close at $2.519 a gallon, heating oil fell 1.5 cents to close at $2.741 a gallon and natural gas rose 3.4 cents to close at $3.857 per 1,000 cubic feet.

In metals trading, gold fell $7.50 to $1,231 an ounce. Silver rose 1 cent to $18.61 an ounce and copper climbed 1.4 cents to $3.10 a pound.

In currency trading, the dollar remained firm. The euro was 0.2 percent higher at $1.2950 while the dollar rose 0.3 percent to 107.36 against the Japanese yen.

AMONG STOCKS MAKING BIG MOVES:

— Conversant, a provider of online advertising services, climbed $8.09, or 30 percent, to $34.80. The rise came after Alliance Data said late Thursday it was buying Conversant for about $2.3 billion.

— Health Care REIT, an investment trust that invests in senior housing and health care real estate, was the biggest decliner in the S&P 500. The company said it was selling an additional $1.1 billion of stock to repay debt and fund investments. Its stock dropped $3.24, or 5 percent, to $63.25.

3753

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 43.63 points or ▲ 0.26% on Monday, 15 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,031.14 ▲ 43.63 ▲ 0.26%
Nasdaq____ 4,518.90 ▼ -48.70 ▼ -1.07%
S&P_500___ 1,984.13 ▼ -1.41 ▼ -0.07%
30_Yr_Bond____ 3.34 ▼ -0.01 ▼ -0.30%

NYSE Volume 2,756,139,250
Nasdaq Volume 1,910,531,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,804.21 ▼ -2.75 ▼ -0.04%
DAX_____ 9,659.63 ▲ 8.50 ▲ 0.09%
CAC_40__ 4,428.63 ▼ -13.07 ▼ -0.29%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,475.40 ▼ -56.90 ▼ -1.03%
Shanghai_Comp 2,339.14 ▲ 7.19 ▲ 0.31%
Taiwan_Weight 9,217.46 ▼ -5.72 ▼ -0.06%
Nikkei_225___ 15,948.29 ▲ 39.09 ▲ 0.25%
Hang_Seng.__ 24,356.99 ▼ -238.33 ▼ -0.97%
Strait_Times.__ 3,312.47 ▼ -33.08 ▼ -0.99%
NZX_50_Index_ 5,210.86 ▼ -13.10 ▼ -0.25%

http://finance.yahoo.com/news/global-stocks-down-weak-china-091349714.html

Stocks mixed ahead of Fed; small companies slump
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” Investors played it safe on Monday ahead of a potentially pivotal Federal Reserve meeting. While large company stocks ended the day little changed, smaller, riskier stocks slumped.

Fed policy makers start a two-day meeting on Tuesday and many investors expect the central bank to indicate that it is moving closer to raising its key interest rate as the economy continues to strengthen. The Fed has held the rate close to zero for more than five years, and stocks have surged against that backdrop.

"Reading the tea leaves, it seems that investors are trying to position themselves for a more aggressive Fed," said Jack Ablin, chief investment officer at BMO Private Bank.

The Dow Jones industrial average rose 43.63 points, or 0.3 percent, to 17,031.14. The Standard & Poor's 500 index dropped 1.41, or 0.1 percent, to 1,984.13. The Nasdaq composite fell 48.70 points, or 1.1 percent, to 4,518.90.

The Russell 2000 index, an index of small company stocks, slipped 14.09 points, or 1.2 percent, to 1,146.52.

Among individual stocks, Molson Coors was the biggest gainer in the S&P 500.

The brewer's stock rose $4.20, or 5.8 percent, to $76, after touching an all-time high. The brewer's stock jumped on merger news in the beer industry. Heineken said late Sunday that it has rejected a takeover bid by rival SABMiller, the world's second-largest brewer. Reports said that SABMiller tried to buy Heineken as a defense against an acquisition bid from Anheuser-Busch InBev, the industry leader.

The news on the economy on Monday was mixed.

U.S. manufacturing output declined in August for the first time in seven months, reflecting a sharp fall in production at auto plants. Output at manufacturing plants fell 0.4 percent in August after a 0.7 percent rise in July, the Federal Reserve reported.

On the other hand, a gauge of manufacturing in New York state jumped to 27.5 in August from 14.7 in July.

Some strategists say that investors shouldn't focus too much about the upcoming Fed meeting, because policy makers will keep rates low until they are convinced that the economic recovery is entrenched. Any sell-off caused by Fed worries may even present investors with a buying opportunity, said Robert Pavlik, chief market strategist at Banyan Partners.

"It's not going to be the first time that interest rates have moved up, and it hasn't stagnated the economy," said Pavlik. "The market does well if interest rates move up gradually."

In government bond trading, prices rose. The yield on the 10-year Treasury note, which falls when prices rise, dropped to 2.59 percent from 2.61 percent late Friday, when it reached a two-month high.

Another big event that traders are watching this week is Thursday's independence referendum in Scotland. With opinion polls showing the vote too close to call, there's potential for some sizeable move in U.K. markets. The pound has turned volatile in recent weeks as opinion polls have narrowed. On Monday, the pound was 0.2 percent lower at $1.6231.

In other currency trading, the dollar gained against the euro, but fell against the Japanese yen. The dollar rose 0.2 percent to $1.29 per euro. It fell 0.1 percent to 107.2 against the yen.

Oil reversed an early decline and finished with a gain amid forecasts that the latest Energy Department report on U.S. oil supplies, due Wednesday, will show a decline. Benchmark U.S. crude oil rose 65 cents to $92.92 a barrel. Brent crude, a benchmark for international crude oils imported by many U.S. refineries, slipped 2 cents to $96.65.

In other energy futures trading on the New York Mercantile Exchange, wholesale gasoline rose 1.2 cents to $2.531 a gallon. Heating oil was flat at $2.74 a gallon and natural gas rose 7.4 cents to $3.931 per 1,000 cubic feet.

In metals trading, gold rose $3.6, or 0.3 percent, to $1,253.10. Silver gained 1.4 cents, or 0.1 percent, to $18.62. Copper fell 2.1 cents, or 0.7 percent, to $3.09 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 100.83 points or ▲ 0.59% on Tuesday, 16 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,131.97 ▲ 100.83 ▲ 0.59%
Nasdaq____ 4,552.76 ▲ 33.86 ▲ 0.75%
S&P_500___ 1,998.98 ▲ 14.85 ▲ 0.75%
30_Yr_Bond____ 3.35 ▲ 0.01 ▲ 0.39%

NYSE Volume 3,156,396,000
Nasdaq Volume 1,845,632,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,792.24 ▼ -11.97 ▼ -0.18%
DAX_____ 9,632.93 ▼ -26.70 ▼ -0.28%
CAC_40__ 4,409.15 ▼ -19.48 ▼ -0.44%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,446.20 ▼ -29.20 ▼ -0.53%
Shanghai_Comp 2,296.56 ▼ -42.58 ▼ -1.82%
Taiwan_Weight 9,133.40 ▼ -84.06 ▼ -0.91%
Nikkei_225___ 15,911.53 ▼ -36.76 ▼ -0.23%
Hang_Seng.__ 24,136.01 ▼ -220.98 ▼ -0.91%
Strait_Times.__ 3,272.62 ▼ -39.85 ▼ -1.20%
NZX_50_Index_ 5,189.79 ▼ -21.07 ▼ -0.40%

http://finance.yahoo.com/news/global-stocks-down-weak-china-091349714.html

Stocks end higher as investors await news from Fed

US stocks end higher as investors await news from Fed meeting; health care stocks gain most
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- The stock market rose Tuesday as investors waited to find out when the Federal Reserve might raise interest rates.

Stocks flitted between gains and losses through most of morning, then turned broadly higher in the afternoon on an increase in health care and utility stocks.

"The economy continues to improve in the U.S., and there's still an accommodative Fed," said Brad Sorensen, director of market and sector research at the Schwab Center for Financial Research. "We think the bull market has further to run."

The Fed has held a key short-term interest rate close to zero for more than five years, making it cheaper for companies and consumers to borrow and boosting corporate profits. That has helped push stocks higher. But investors widely expect the Fed to start raising rates in the middle of next year.

Investors may get a better sense of how soon after the central bank concludes a two-day meeting Wednesday. Fed Chair Janet Yellen could discuss the bank's rate plans, as well as the outlook for employment and inflation, in a press conference in the afternoon.

Jonathan D. Corpina, senior managing partner at Meridian Equity Partners, said there was talk among traders during the day about what the Fed might do, but little new insight.

"There' a lot of chatter, but nothing that's real," he said from the floor of the New York Stock Exchange.

Until the closing minutes, the Dow Jones industrial average looked like it would rise to a record, but prices faltered at the end. Still the blue-chip index ended up gaining 100.83, its first triple-digit close since August 18. The Dow closed at 17,131.97, a gain of 0.6 percent.

The Nasdaq composite rose 33.86 points, or 0.8 percent, to 4,552.76. The Standard & Poor's 500 index climbed 14.85 points, or 0.8 percent, to 1,998.98.

Among the 10 sectors of the S&P 500, health care stocks gained the most, up 1.3 percent. Utilities and energy stocks followed, with a 1.2 percent gain each. Energy stocks were pushed higher by rising oil prices. Exxon Mobil increased 1.2 percent.

In economic news, a measure of prices that U.S. producers receive for their goods and services was unchanged in August, the latest sign that inflation is in check. A drop in wholesale gas and food prices was offset by higher prices for transportation and shipping services, the Labor Department said.

Besides the Fed press conference tomorrow, investors are awaiting a referendum on Scottish independence on Thursday. The British pound has turned volatile in recent weeks as opinion polls narrowed ahead of the vote. A "yes" decision could trigger turmoil in the market as investors ponder the economic and financial fallout.

Among stocks making big moves:

”” Humana Inc. rose $4.71 to $132.37, a gain 4 percent. The health insurer said it plans to repurchase as much as $2 billion of its own shares, double what it had previously planned. The stock has climbed 28 percent this year.

”” Sears Holdings fell $3.15, or 9 percent, to $30.37. The company is taking out a $400 million short-term loan from a hedge fund run by CEO Edward Lampert, the retail company's biggest owner. Sears has struggled against rivals like Wal-Mart Stores Inc. in recent years.

In metals trading, gold rose $1.60, or 0.1 percent, to $1,236.70 an ounce. Silver gained 10.1 cents, or 0.5 percent, or $18.72 an ounce. Copper rose 8 cents, or 2.6 percent, to $3.17 a pound.

The price of benchmark U.S. crude rose $1.96 to close at $94.88 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.17 to close at $99.05 in London.

In government bond trading, the yield on the 10-year Treasury note was unchanged from Monday at 2.59 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 24.88 points or ▲ 0.15% on Wednesday, 17 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,156.85 ▲ 24.88 ▲ 0.15%
Nasdaq____ 4,562.19 ▲ 9.43 ▲ 0.21%
S&P_500___ 2,001.57 ▲ 2.59 ▲ 0.13%
30_Yr_Bond____ 3.36 ▲ 0.01 ▲ 0.30%

NYSE Volume 3,167,076,500
Nasdaq Volume 1,753,691,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,780.90 ▼ -11.34 ▼ -0.17%
DAX_____ 9,661.50 ▲ 28.57 ▲ 0.30%
CAC_40__ 4,431.41 ▲ 22.26 ▲ 0.50%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,411.40 ▼ -34.80 ▼ -0.64%
Shanghai_Comp 2,307.89 ▲ 11.34 ▲ 0.49%
Taiwan_Weight 9,195.17 ▲ 61.77 ▲ 0.68%
Nikkei_225___ 15,888.67 ▼ -22.86 ▼ -0.14%
Hang_Seng.__ 24,376.41 ▲ 240.40 ▲ 1.00%
Strait_Times.__ 3,296.48 ▲ 23.86 ▲ 0.73%
NZX_50_Index_ 5,142.34 ▼ -47.45 ▼ -0.91%

http://finance.yahoo.com/news/world-stocks-mostly-higher-ahead-084017400.html

Dow closes at record after Fed keeps rates intact
Associated Press
By BERNARD CONDON

NEW YORK (AP) — The stock market rose Wednesday after the Federal Reserve told investors to expect low interest rates for a while yet, pushing the Dow Jones industrial average to a record high.

After drifting along for most of the day, stocks marched higher after the U.S. central bank released a statement signaling little change in its interest rate policy. The gains were broad, with seven of the 10 industry groups of the Standard & Poor's 500 index rising, led by materials stocks.

The Fed statement put to rest an anxious waiting game among investors that has left the S&P 500 moving between small gains and losses for weeks. A rise in the short-term rates that the Fed controls has triggered stock drops in the past.

"The Fed is not going to take the punch bowl away," said Brad McMillan, chief investment officer for Commonwealth Financial. "They didn't want to spook the market."

In its statement, the central bank retained language in that it plans to keep short-term rates low "for a considerable time" after it ends its monthly bond purchases in November. Many investors interpreted that to mean the first hike won't come until the middle of next year.

The Dow rose 24.88 points, or 0.2 percent, to end at 17,156.85 — its 16th record high this year. The S&P 500 edged up 2.59 points, or 0.1 percent, to 2,001.57, falling short of its own closing high of 2,007.71 from Sept. 5.

The Nasdaq composite was up 9.43 points, or 0.2 percent, to 4,562.19, still well below its dot-com era peak.

Shares of home builders jumped after builder confidence in the market for new homes rose to its highest level in nearly nine years. Miami-based Lennar Corp. rose nearly 6 percent, the most in the S&P 500 index.

The S&P 500 has risen 8 percent since January, extending the bull market into a sixth year. Companies have been hiring at a solid pace and manufacturing and construction have picked up.

John Lynch, regional chief investment officer for Wells Fargo Private Bank, said the stronger economy is a big reason that stocks have risen.

"The economy is tracking at a 3 percent rate of growth, and corporate profits are at a record level," he said, shortly before the Dow's record close.

But the good developments have also worried the market because they could prompt the Fed to raise interest rates to head off inflation.

On Wednesday, at least, those concerns eased. Even before the Fed policy statement, there was news that inflation is tame. The government reported that U.S. consumer prices edged down in August, the first monthly drop since the spring of 2013.

Oil fell after the Energy Department reported an unexpected increase in U.S. crude oil supplies. Benchmark U.S. oil fell 46 cents to $94.42 a barrel. Brent crude, a benchmark for international oils imported by many U.S. refineries, dropped 8 cents to $98.87 a barrel in London. Inventories of U.S. crude oil rose by 3.7 million barrels last week. Most analysts had expected a decline, which is typical for this time of year. In other energy futures, wholesale gasoline rose 1 cent to $2.569 a gallon. Heating oil fell 1.1 cents to $2.745 a gallon. Natural gas gained 1.8 cents to $4.013 per 1,000 cubic feet.

Among stocks making big moves:

— DuPont surged $3.42 to $69.25, or 5.2 percent, the biggest gain in the Dow by far. Investors bought the stock on news that activist investor Nelson Peltz had sent a letter to the company's board suggesting it split in two. His Trian Fund Management LP said it has been in private talks with DuPont for more than a year to boost shareholder value and improve its financial performance.

— FedEx rose $5.05, or 3 percent, to $159.71 after its quarterly profit beat forecasts by financial analysts. The company benefited from an increase in shipments to people shopping online.

— General Mills, the food company behind Cheerios cereal and Yoplait yogurt, fell $2.35, or 4.4 percent, to $50.83 after reporting disappointing quarterly results. Its stock was the third-biggest loser in the S&P 500.

Gold, which was flat minutes before the Fed news on interest rates, ended down 80 cents, or 0.1 percent, to $1,235.90 an ounce. Silver rose 1.3 cents, or 0.1 percent, to $18.73 an ounce. Copper fell 2.3 cents, or 0.7 percent, to $3.14 a pound.

In government bond trading, the yield on the 10-year Treasury note edged up to 2.62 percent, from 2.59 percent late Tuesday. The yield has moved between a high of 3 percent and a low of 2.34 percent this year.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 109.14 points or ▲ 0.64% on Thursday, 18 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,265.99 ▲ 109.14 ▲ 0.64%
Nasdaq____ 4,593.43 ▲ 31.24 ▲ 0.68%
S&P_500___ 2,011.36 ▲ 9.79 ▲ 0.49%
30_Yr_Bond____ 3.36 ▲ 0.00 ▼ -0.15%

NYSE Volume 3,203,595,750
Nasdaq Volume 1,740,483,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,819.29 ▲ 38.39 ▲ 0.57%
DAX_____ 9,798.13 ▲ 136.63 ▲ 1.41%
CAC_40__ 4,464.70 ▲ 33.29 ▲ 0.75%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,419.00 ▲ 7.60 ▲ 0.14%
Shanghai_Comp 2,315.93 ▲ 8.03 ▲ 0.35%
Taiwan_Weight 9,237.03 ▲ 41.86 ▲ 0.46%
Nikkei_225___ 16,067.57 ▲ 178.90 ▲ 1.13%
Hang_Seng.__ 24,168.72 ▼ -207.69 ▼ -0.85%
Strait_Times.__ 3,297.29 ▲ 0.81 ▲ 0.02%
NZX_50_Index_ 5,154.18 ▲ 11.84 ▲ 0.23%

http://finance.yahoo.com/news/world-stocks-higher-fed-scotland-122706778.html

Good news on economy pushes stocks to record highs
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” More encouraging economic news and friendly signals from the Federal Reserve cheered investors on Thursday, as the stock market climbed to another record high.

The gains came a day after the Fed made clear that it's in no hurry to raise a key bank lending rate, easing a major concern for the stock market.

Eight of 10 industry groups in the Standard & Poor's 500 index rose, led by financial stocks.

"The question isn't 'Why are we up today?'" said Dan Veru, chief investment officer at Palisade Capital Partners in New York. "It's 'Why aren't we up a lot more?' What you're seeing is the U.S. economy growing at a modest pace, not too hot and not too cold."

Veru said it's an environment that allows the Fed to stick to a policy that coaxes businesses to borrow and spend and could fuel further gains for stocks.

The S&P 500 and Dow Jones industrial average closed at all-time highs. The S&P 500 index gained 9.79 points, or 0.5 percent, to 2,011.36. The Dow surged 109.14 points, or 0.6 percent, to 17,265.99. The Nasdaq composite climbed 31.24 points, or 0.7 percent, to 4,593.43.

The S&P Financials sector rose 1.1 percent. Bank profits could rise if short-term rates stay low while the rates they charge on longer-term loans creep higher.

The day began with good news about the economy. Fewer Americans filed first-time claims for unemployment benefits last week, according to the Labor Department. Weekly applications fell to 280,000, well below economists' forecasts. The four-week average, a less-volatile measure, also dropped.

Major markets in Europe headed higher as voters in Scotland decided whether to break from the United Kingdom. Germany's DAX advanced 1.4 percent, and France's CAC 40 gained 0.8 percent. Britain's FTSE 100 added 0.6 percent.

Scotland opened polling stations on Thursday for a referendum on whether the country should leave the United Kingdom of Great Britain and Northern Ireland to become an independent state. Opinion polls have suggested the "Yes" campaign favoring independence is neck and neck with the "No" campaign that wants Scotland to stay in the U.K.

"A 'yes' vote is likely to weigh heavily on the sterling and equities," said IG strategist Stan Shamu in a commentary. "A 'no' vote should result in a relief rally and is likely to be positive for the sterling and equities."

The pound was trading at a two-year high against the euro at €1.27, and holding steady against the dollar at $1.64.

On Wednesday in the U.S., the Fed maintained its stance of keeping short-term interest rates near zero for a "considerable time." Investors had speculated that the Fed might hint at an earlier start for rate hikes.

Among companies making big moves on Thursday, Rite Aid plunged 19 percent after it cut its profit forecasts for the full year, laying part of the blame on higher costs for generic drugs. The drugstore chain still expects sales of $26 billion this year. Rite Aid's stock fell $1.23 to $5.41.

ConAgra said its quarterly profits nearly tripled, sending its stock up $1.47, or 5 percent, to $33.48. Sales for the company behind Chef Boyardee canned pasta and Hebrew National hot dogs were flat, but other costs fell.

Alibaba Group is expected to wrap up its mammoth initial public offering later Thursday, then make its debut on the New York Stock Exchange on Friday under the symbol "BABA." The Chinese e-commerce company could raise as much as $21.8 billion from institutional investors, making it the largest IPO on record in the U.S.

Elsewhere, Hong Kong's Hang Seng finished 0.9 percent lower and Japan's Nikkei 225 gained 1 percent as the yen traded at a six-year low against the dollar. Markets in mainland China, India and Southeast Asia also rose.

In commodity trading, prices for precious and industrial metals fell broadly. Gold dropped $9 to settle at $1,226.90 an ounce, and silver sank 22 cents to $18.52. Copper dropped 5 cents to $3.09.

The price of oil fell on expectations of a quick return of Libyan production and continuing signals of lower global demand. Benchmark U.S. crude fell $1.35 to close at $93.07 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.27 to close at $97.70 in London.

In other energy trading, wholesale gasoline fell 0.8 cent to close at $2.561 a gallon. Heating oil fell 3.3 cents to close at $2.712 a gallon. Natural gas fell 10.3 cents to close at $3.910 per 1,000 cubic feet

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 13.75 points or ▲ 0.08% on Friday, 19 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,279.74 ▲ 13.75 ▲ 0.08%
Nasdaq____ 4,579.79 ▼ -13.64 ▼ -0.30%
S&P_500___ 2,010.40 ▼ -0.96 ▼ -0.05%
30_Yr_Bond____ 3.30 ▼ -0.06 ▼ -1.79%

NYSE Volume 4,953,182,000
Nasdaq Volume 3,152,412,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,837.92 ▲ 18.63 ▲ 0.27%
DAX_____ 9,799.26 ▲ 1.13 ▲ 0.01%
CAC_40__ 4,461.22 ▼ -3.48 ▼ -0.08%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,437.30 ▲ 18.30 ▲ 0.34%
Shanghai_Comp 2,329.45 ▲ 13.52 ▲ 0.58%
Taiwan_Weight 9,240.45 ▲ 3.42 ▲ 0.04%
Nikkei_225___ 16,321.17 ▲ 253.60 ▲ 1.58%
Hang_Seng.__ 24,306.16 ▲ 137.44 ▲ 0.57%
Strait_Times.__ 3,305.05 ▲ 7.76 ▲ 0.24%
NZX_50_Index_ 5,181.35 ▲ 27.16 ▲ 0.53%

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

As Wall Street watches Alibaba, stocks drift
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) — With Wall Street focused on the debut of Alibaba Group, the stock market drifted into the weekend and major indexes ended little changed.

Investors watched as the Chinese e-commerce giant surged 38 percent Friday, in its first day of trading on the New York Stock Exchange. Alibaba gained $25.89 to end at $93.89.

By the end of the day, the Standard & Poor's 500 index fell less than a point, a sliver of a percent, to 2,010.40. It finished with its best weekly gain in a month.

Alibaba lined up its initial public offering of stock at $68 a share the day before, raising $21.8 billion from investors. That vaulted Alibaba to the top tier of technology companies in terms of market value. It's bigger than Amazon.com but smaller than the titans of tech, Apple and Google.

"We know there's a lot of demand from institutional and retail investors, so it's not a surprise to see it rally that quickly," said JJ Kinahan, chief strategist at TD Ameritrade, the online brokerage.

Alibaba was the big story Friday, but the rest of the week belonged to the Federal Reserve. At the end of a two-day meeting on Wednesday, the Fed issued a statement saying that it planned to keep its benchmark lending rate low. Some investors had earlier voiced concerns that the Fed might be in a bigger hurry to hike rates.

"Janet Yellen (the Fed's chairwoman) told people exactly what they wanted to hear," Kinahan said.

Encouraged, investors sent stocks to record highs this week. The S&P 500 index has now climbed 9 percent in 2014, better than the average gain for a full year.

In other trading Friday, the Dow Jones industrial average edged up 13.75 points, or 0.1 percent, to close at 17,279.74. The Nasdaq composite fell 13.64 points, or 0.3 percent, to 4,579.79.

German business-software company SAP announced plans to buy Concur Technologies for $7.4 billion. Concur's stock jumped $19.02, or 18 percent, to $126.82.

Oracle's stock slumped after the announcement late Thursday that Larry Ellison, the tech company's billionaire founder, is stepping down as CEO after 37 years. Ellison remains the company's biggest shareholder. Oracle's stock fell $1.75, or 4 percent, to $39.80.

The yield on the 10-year Treasury note fell to 2.58 percent, from 2.62 percent late Thursday.

Britain's main index rose slightly after voters in Scotland rejected a referendum to break from the U.K. Some warned that if Scotland left, uncertainty over the future value of the British pound and government debt would have shaken the U.K economy.

Britain's FTSE 100 advanced 0.3 percent. France's CAC 40 slipped 0.1 percent, and Germany's DAX was flat.

Elsewhere, Japan's Nikkei 225 jumped 1.6 percent as the yen's weakness gave a boost to companies that rely on exports.

In commodities trading, precious and industrial metals fell, extending their losses for the week. Gold dropped $10.30 to settle at $1,216.60 an ounce. Silver sank 67 cents to $17.84 an ounce. Copper was unchanged at $3.09 a pound.

Oil fell 66 cents to $92.41 a barrel as the dollar gained strength. Oil trades in dollars, so a stronger dollar makes oil more expensive to traders holding other currencies.

Brent crude, a benchmark for international oils imported by many U.S. refineries, rose 69 cents, to $98.39 a barrel in London.

In other futures trading on the New York Mercantile Exchange:

— Wholesale gasoline rose 5 cents to $2.611 a gallon

— Heating oil was flat at $2.717 a gallon

— Natural gas fell 7.3 cents to $3.837 per 1,000 cubic feet

4309

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -107.06 points or ▼ -0.62% on Monday, 22 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,172.68 ▼ -107.06 ▼ -0.62%
Nasdaq____ 4,527.69 ▼ -52.10 ▼ -1.14%
S&P_500___ 1,994.29 ▼ -16.11 ▼ -0.80%
30_Yr_Bond____ 3.29 ▼ -0.01 ▼ -0.30%

NYSE Volume 3,344,390,750
Nasdaq Volume 1,852,070,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,773.63 ▼ -45.66 ▼ -0.67%
DAX_____ 9,749.54 ▼ -49.72 ▼ -0.51%
CAC_40__ 4,442.55 ▼ -18.67 ▼ -0.42%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,368.20 ▼ -69.10 ▼ -1.27%
Shanghai_Comp 2,289.87 ▼ -39.59 ▼ -1.70%
Taiwan_Weight 9,134.65 ▼ -105.80 ▼ -1.14%
Nikkei_225___ 16,205.90 ▼ -115.27 ▼ -0.71%
Hang_Seng.__ 23,955.49 ▼ -350.67 ▼ -1.44%
Strait_Times.__ 3,296.57 ▼ -8.48 ▼ -0.26%
NZX_50_Index_ 5,236.29 ▲ 54.95 ▲ 1.06%

http://finance.yahoo.com/news/asian-shares-slip-jitters-over-032411662.html

US stocks drop as China, oil weigh on markets
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” Worries about the outlook for growth in China and a slide in the price of oil pushed the stock market to its biggest loss in almost seven weeks Monday.

Investors are nervous about China following a run of soft economic data that suggests growth in the world's second-largest economy is slowing. The worries about China helped push down the price of oil. That in turn weighed on energy stocks.

The stock market has struggled to gain traction this month as investors have weighed signs of an improving economy in the U.S. against evidence of slowing growth in both Europe and Asia.

"We've got China weighing down on stocks," said Kristina Hooper, U.S. investment strategist at Allianz Global Investors. "The lack of transparency there always creates greater uncertainty."

The Standard & Poor's 500 index dropped 16.11 points, or 0.8 percent, to 1,994.29. The loss was the biggest one-day decline for the index since Aug. 5. The index is down 0.5 percent this month.

The Dow Jones industrial average fell 107.06 points, or 0.6 percent, to 17,172.68. The Nasdaq composite dropped 52.10 points, or 1.1 percent, to 4,527.69.

The losses were broad, and all 10 industry sectors that make up the S&P 500 declined. Energy stocks were the second-biggest decliners, slumping 1.4 percent as the price of oil fell. Companies that rely the most on consumer spending, such as entertainment and media conglomerates and retailers, fell the most.

The price of oil dropped on concerns that Libya's production is picking up at a time when global economic indicators point to weaker demand from countries including China. Benchmark U.S. oil fell 89 cents to $91.52 a barrel. Analysts say U.S. oil could test the $90 mark sometime this week.

Smaller companies were also among the biggest decliners as investors shunned the riskier parts of the market.

The Russell 2000, an index which tracks small-company stocks, fell 1.5 percent, more than other indexes. The Russell has dropped 3 percent so far this year, compared with gains of 7.9 percent for the S&P 500 and 3.6 percent for the Dow.

Some analysts say investors should regard any pullback in stock prices as an opportunity to add to their holdings. Recent reports on the manufacturing and the service industries have been strong. Hiring is picking up and inflation remains tame.

"The fundamentals in the U.S. have been coming in strong, beyond expectations," said Doug Cote, chief market strategist at Voya Investment Management. "It's a modest pullback. If anything I would take it as an opportunity to build positions."

On Monday, stocks were also hurt by a report showed that fewer Americans bought homes in August as investors retreated from real estate and first-time buyers remained scarce.

If the trend continues it could dent consumers' confidence, said Allianz's Hooper.

"It really speaks to much of middle-class America. The largest component of their net worth is their home," she said. "It could really put a damper on consumer spending and consumer sentiment."

The National Association of Realtors said sales of existing homes fell 1.8 percent to a seasonally adjusted annual rate of 5.05 million. That followed four months of gains. August sales fell from a July rate of 5.14 million, a figure that was revised slightly downward.

The report weighed on homebuilding stocks. Hovnanian fell 14 cents, or 3.6 percent, to $3.80 and Beazer Homes fell 52 cents, or 2.8 percent, to $18.09.

St. Louis-based chemical firm Sigma-Aldrich was among the day's winners. The company's stock surged $34.03, or 33.2 percent, to $136.40 after agreeing to be acquired by Merck, a German drug company. Merck is paying $140 a share from Sigma-Aldrich, a premium of 37 percent over Friday's closing price.

Apple also bucked the slump, logging a small gain of 10 cents, or 0.1 percent, to $101.06. The technology company said that it has sold more than 10 million iPhone 6 and 6 Plus models, a record for a new model, in the three days after the phones went on sale.

In other energy trading, wholesale gasoline fell 2.7 cents to $2.585 a gallon, heating oil dropped 3 cents to $2.687 a gallon and natural gas rose 1.3 cents to $3.85 per 1,000 cubic feet.

Metals remained weak. Silver continued its recent descent, falling to its lowest level since the summer of 2010.

The price of an ounce of silver fell 7 cents, or 0.4 percent, to $17.77 an ounce. Precious metals, including gold, have been pressured by the recent strength of the dollar, low global inflation and rising stock markets. Gold is trading close to its lowest price since the start of the year. Gold edged up $1.30, or 0.1 percent, to $1,217.90 an ounce. Copper fell five cents, or 1.7 percent, to $3.04 a pound.

U.S. government bond prices rose. The yield on the 10-year government bond, which falls when prices rise, dropped to 2.55 percent from 2.58 percent.

In currency trading, the dollar weakened against both the Japanese yen and the euro.

The Japanese yen has been trading at six-year lows against the dollar in anticipation that the U.S. Federal Reserve will raise interest rates next year while the Bank of Japan will maintain an easy monetary policy. On Monday, the dollar edged down to 108.77 yen. The euro rose a fraction to $1.2849.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -116.81 points or ▼ -0.68% on Tuesday, 23 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,055.87 ▼ -116.81 ▼ -0.68%
Nasdaq____ 4,508.69 ▼ -19.00 ▼ -0.42%
S&P_500___ 1,982.77 ▼ -11.52 ▼ -0.58%
30_Yr_Bond____ 3.25 ▼ -0.04 ▼ -1.12%

NYSE Volume 3,246,208,750
Nasdaq Volume 1,811,223,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,676.08 ▼ -97.55 ▼ -1.44%
DAX_____ 9,595.03 ▼ -154.51 ▼ -1.58%
CAC_40__ 4,359.35 ▼ -83.20 ▼ -1.87%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,415.90 ▲ 47.70 ▲ 0.89%
Shanghai_Comp 2,309.72 ▲ 19.85 ▲ 0.87%
Taiwan_Weight 9,084.90 ▼ -49.75 ▼ -0.54%
Nikkei_225___ 16,205.90 ▼ -115.27 ▼ -0.71%
Hang_Seng.__ 23,837.07 ▼ -118.42 ▼ -0.49%
Strait_Times.__ 3,298.09 ▲ 1.52 ▲ 0.05%
NZX_50_Index_ 5,241.44 ▲ 5.15 ▲ 0.10%

http://finance.yahoo.com/news/global-stocks-off-china-rebounds-081450896--finance.html

Europe, Syria drag on global stock markets
Associated Press
By KEN SWEET

NEW YORK (AP) ”” Grim economic news from Europe and airstrikes in Syria rattled global stocks Tuesday.

Most of the damage was felt in European markets, which fell sharply after a closely watched gauge of business activity for the region fell to a nine-month low.

The disappointing news about Europe's economy also weighed down Wall Street. The Dow Jones industrial average opened lower and finished the day with its second triple-digit loss in a row.

EUROPE

Investors have been dealing with meager economic growth in Europe for months. The eurozone economy has been flat or barely growing since April, hobbled by the lingering effects of a debt crisis, uncertainty over a conflict in Ukraine and a lack of confidence among European consumers, businesses and banks.

"It has a very feeble recovery going on that is vulnerable to even the slightest external shock," said Jacob Kirkegaard, senior fellow at the Peterson Institute for International Economics.

The European Central Bank has announced a series of measures to jolt the economy, cutting interest and pumping money into the financial system by buying bonds backed by assets such as auto and credit-card loans. But it has yet to go as far as the U.S. Federal Reserve did, buying government bonds in an effort to push long-term interest rates lower.

Carl Weinberg, chief economist at High Frequency Economics, is not optimistic: "Recovery will take years."

European market indexes sank after the economic news. Germany's DAX fell 1.6 percent, France's CAC 40 fell 1.9 percent and the U.K.'s FTSE 100 lost 1 percent.

UNITED STATES

In U.S., the Dow slid 116.81 points, or 0.7 percent, to 17,055.87. The S&P 500 index lost 11.52 points, or 0.6 percent, to 1,982.77 and the Nasdaq composite fell 19 points, or 0.4 percent, to 4,508.69.

The Dow's triple-digit fall on Tuesday follows a 107-point stumble from the day before. The blue-chip index hasn't posted two losses of 100 or more points since June.

Still, the outlook in the U.S. is far more positive than Europe. The economy has been gaining strength after getting off to a slow start this year. Growth reached a 4.2 percent annual pace from April through June. Unemployment has dropped to 6.1 percent in August from 7.2 percent a year earlier. Employers have been adding 215,000 jobs a month this year, up from 194,000 a month in 2013. Consumers are more confident and willing to take on debt.

But individual countries' economies cannot stand on their own in today's global economy. If Europe and Asian economies were to lose more traction, it could spill over into the U.S., traders say. Companies in the Standard & Poor's 500 index, for example, generate nearly half their sales abroad.

"When it comes right down to it, U.S. companies do business globally," said Quincy Krosby, a market strategist with Prudential Financial. "Unless global demand can keep up, it's going to start hurting these companies."

Along with the bad economic news, investors had geopolitical concerns to worry about Tuesday.

The U.S. and five Arab nations attacked the Islamic State group's headquarters in eastern Syria in nighttime raids Tuesday. U.S. aircraft as well as Tomahawk cruise missiles launched from Navy ships in the Red Sea and the northern Persian Gulf were used.

"The escalation of the conflict will of course raise questions over the risk appetite of many within the markets," said Joshua Mahoney, research analyst at Alpari.

Investors moved money into U.S Treasury bonds and gold, which are considered havens during times of trouble. The yield on the 10-year U.S. Treasury note fell to 2.53 percent from 2.57 percent. The price of gold rose $4.10, or 0.3 percent, to $1,222 an ounce.

"Bonds and gold are responding to those geopolitical concerns," Krosby said.

In other metals trading, silver edged up half a penny to $17.78 an ounce. Copper fell less than a penny to $3.04 a pound.

U.S. health care stocks were among the hardest hit after the Obama Administration announced rules that would go after companies trying to do so-called corporate inversion deals. Such deals happen when a company merges with an overseas competitor to legally move its headquarters out of the U.S. to avoid paying high corporate tax rates. Health care companies have been among the most active in striking such deals.

Shares fell for Medtronic and AbbVie, which have considered inversion deals. Medtronic lost $1.90, or 3 percent, to $64.08 and AbbVie fell $1.15, or 2 percent, to $57.56. AstraZeneca, which was approached by Pfizer earlier this year to do an inversion deal, fell $3.54, or 5 percent, to $71.13.

The euro was flat at $1.286 while the dollar rose 0.1 percent to 108.86 yen.

In oil markets, U.S. crude oil rose 69 cents to close at $91.56 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 12 cents to close at $96.85 on the ICE Futures exchange in London, reaching its lowest level since June of 2012.

In Asia, the decline in stocks was more modest. Hong Kong's Hang Seng shed 0.3 percent and Seoul's Kospi fell 0.6 percent. The Shanghai Composite Index gained a 0.2 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 154.19 points or ▲ 0.90% on Wednesday, 24 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,210.06 ▲ 154.19 ▲ 0.90%
Nasdaq____ 4,555.22 ▲ 46.53 ▲ 1.03%
S&P_500___ 1,998.30 ▲ 15.53 ▲ 0.78%
30_Yr_Bond____ 3.28 ▲ 0.03 ▲ 0.95%

NYSE Volume 3,344,770,000
Nasdaq Volume 1,730,745,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,706.27 ▲ 30.19 ▲ 0.45%
DAX_____ 9,661.97 ▲ 66.94 ▲ 0.70%
CAC_40__ 4,413.72 ▲ 54.37 ▲ 1.25%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,375.90 ▼ -40.00 ▼ -0.74%
Shanghai_Comp 2,343.57 ▲ 33.86 ▲ 1.47%
Taiwan_Weight 9,098.49 ▲ 13.59 ▲ 0.15%
Nikkei_225___ 16,167.45 ▼ -38.45 ▼ -0.24%
Hang_Seng.__ 23,921.61 ▲ 84.54 ▲ 0.35%
Strait_Times.__ 3,292.81 ▼ -5.28 ▼ -0.16%
NZX_50_Index_ 5,258.17 ▲ 16.73 ▲ 0.32%

http://finance.yahoo.com/news/stocks-drift-divergent-economic-fates-084348573.html

US stocks advance after 3 days of declines

US stocks move higher after 3 days of declines; Bed Bath & Beyond rises on earnings gain
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. stocks rebounded Wednesday and had their best performance in more than a month, led by gains in health care and consumer staples companies.

Once again, investors were willing to step in to buy any noticeable dip in the market, even as more bad news emerged about Europe's economy and worries over violence in Iraq and Syria continued.

The Dow Jones industrial average advanced 154.19 points, or 0.9 percent, to 17,210.06, its best day since Aug. 18. The Standard & Poor's 500 index rose 15.53 points, or 0.8 percent, to 1,998.30 and the Nasdaq composite rose 46.53 points, or 1 percent, to 4,555.22.

The gains came after three days of losses for the S&P 500 and two straight days of triple-digit losses for the Dow Jones industrial average. With the gains Wednesday, the Dow recovered more than half of what it lost Monday and Tuesday.

The biggest gainer in the S&P 500 was Bed Bath & Beyond, which rose $4.64, or 7.4 percent, to $67.33. The home furnishings company reported a quarterly profit of $1.17 a share, two cents above analysts' expectations. The company also raised its full-year forecast.

Wal-Mart rose $1.48, or 2 percent, to $77.08, making it the second-biggest advancer in the Dow. The retail giant took a big step into the financial services sector, announcing a new checking account program for customers in collaboration with Green Dot. The news sent Green Dot shares soaring $4.59, or 24 percent, to $23.41.

Investors also got a positive report on the U.S. economy. Sales of new homes jumped 18 percent in August, reaching an annual rate of 504,000, according to the Commerce Department, far better than the 430,000 rate economists had expected.

Even with Wednesday's gain, there's a lot of caution in the market, traders say.

Investors continue to focus on Europe's economic malaise and tensions in the Middle East after the U.S. and several Arab nations attacked the Islamic State group's headquarters in Syria.

The Ifo business confidence index in Germany, Europe's largest economy, dropped for a fifth month in September. The decline was larger than expected and confirmed that Europe's economy remains weak. The day before, a closely watched business gauge for the region fell to a nine-month low. The eurozone's economy has been flat or barely growing since April, hobbled by the lingering effects of a debt crisis, uncertainty over a conflict in Ukraine and a lack of confidence among consumers, businesses and banks.

"It's clear now that the Russian sanctions are causing a slowdown in the European economy, particularly manufacturing," said Anastasia Amoroso, a global markets strategist at JPMorgan Funds. "But we see this as a temporary soft patch."

Health care stocks rebounded after taking a beating at the start of the week on news that the U.S. was tightening rules on a tax-saving maneuver called an "inversion." Many of the companies using the tactic, in which a smaller company is acquired overseas so that the U.S. company can move its headquarters there and take advantage of lower tax rates, have been health companies.

AbbVie, which fell nearly 2 percent Tuesday, rose 2.6 percent Wednesday.

Other health care names helping the overall market were the biotechnology stocks such as Biogen, Celgene and Vertex Pharmaceuticals. They all rose 3 percent or more.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.57 percent from 2.53 percent the day before.

In other markets, benchmark U.S. crude oil rose $1.24 to $92.80 a barrel on the New York Mercantile Exchange. Oil rose after the government reported a larger-than-expected decline in oil stocks. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 10 cents to close at $96.95 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline rose 3.5 cents to close at $2.664 a gallon, heating oil rose 0.6 cent to close at $2.689 a gallon and natural gas rose 9.5 cents to close at $3.911 per 1,000 cubic feet

The euro slid to $1.28 and the dollar rose to 108.94 Japanese yen. The price of gold fell $2.50 to $1,219.50 an ounce. Silver fell eight cents to $17.70 an ounce and copper rose two cents to $3.05 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -264.26 points or ▼ -1.54% on Thursday, 25 September 2014
Symbol …........Last …......Change.......
Dow_Jones 16,945.80 ▼ -264.26 ▼ -1.54%
Nasdaq____ 4,466.75 ▼ -88.47 ▼ -1.94%
S&P_500___ 1,965.99 ▼ -32.31 ▼ -1.62%
30_Yr_Bond____ 3.22 ▼ -0.06 ▼ -1.92%

NYSE Volume 3,300,057,000
Nasdaq Volume 1,877,459,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,639.71 ▼ -66.56 ▼ -0.99%
DAX_____ 9,510.01 ▼ -151.96 ▼ -1.57%
CAC_40__ 4,355.28 ▼ -58.44 ▼ -1.32%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,382.40 ▲ 6.50 ▲ 0.12%
Shanghai_Comp 2,345.10 ▲ 1.53 ▲ 0.07%
Taiwan_Weight 9,011.59 ▼ -86.90 ▼ -0.96%
Nikkei_225___ 16,374.14 ▲ 206.69 ▲ 1.28%
Hang_Seng.__ 23,768.13 ▼ -153.48 ▼ -0.64%
Strait_Times.__ 3,290.99 ▼ -1.82 ▼ -0.06%
NZX_50_Index_ 5,277.86 ▲ 19.69 ▲ 0.37%

http://finance.yahoo.com/news/global-stocks-higher-us-data-boost-sentiment-091541056--finance.html

Apple bites stock market

Technology stocks swoon, leading to market's worst day since July; Apple sinks on iPhone woes
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- A stumble by Apple set off the worst rout in the stock market since July on Thursday.

Apple dropped nearly 4 percent following its announcement late Wednesday that it had pulled a software update which prevented users from making phone calls. Other technology stocks also slumped.

The selling started early and picked up strength in the afternoon. By the close of trading, all 30 big companies in the Dow Jones industrial average and the 10 industries in the Standard & Poor's 500 index lost ground.

Most investors said the drop wasn't a sign of worry because the forces behind the market's long rally remain in place. It was only a week ago that the S&P 500 touched a record high, and strong runs are usually followed by short breaks. The index has lost 2 percent this week but is still up 6 percent for the year.

"There's just an absence of real news to chew on," said Mark Luschini, the chief investment strategist at Janney Montgomery Scott. "When you're at a peak, markets need more and more good news to keep climbing."

The S&P 500 index lost 32.31 points, or 1.6 percent, to close at 1,965.99.

The Dow slumped 264.26 points, or 1.5 percent, to close at 16,945.80. The Nasdaq composite, which is dominated by technology companies, dropped 88.47 points, or 1.9 percent, to 4,466.75.

It was the worst day for all three indexes since July 31.

Two economic reports out Thursday were little help. Claims for unemployment benefits crept up last week. But the less volatile four-week average fell. A separate report said businesses orders for equipment plunged last month, mainly a result of falling orders for commercial aircraft.

"The economic numbers were negative, but not alarming and don't change the direction of the economy at this time," said Peter Cardillo, chief market economist at Rockwell Global Financial.

Henry Smith, chief investment officer at Haverford Trust, said there was no fundamental reason behind the drop on Thursday. A sudden turn might seem alarming because it's so unusual.

"We've really had such little volatility for the past couple of years," Smith said. "Now when we have a 200-point drop in the Dow, it feels like something is really wrong."

Trading this week has turned increasingly turbulent, an abrupt break from a sleepy summer. On Monday, concerns about slowing growth in China and falling U.S. home sales knocked the market back, giving the S&P 500 its worst daily drop in more than a month. On Wednesday, the S&P 500 had its best gain in more than a month.

Some investment professionals have been warning that the market has been calm for too long and say a 10 percent drop, known as a "correction," is overdue. Since World War II, they typically hit every 18 months, according to S&P Capital IQ. The last one occurred in August 2011.

"Big pullbacks are normal in a bull market," said Smith. "What's abnormal is that we've gone three years without one."

Bill Strazzullo, chief market strategist at research firm Bell Curve Trading, thinks stocks could fall further as the S&P 500 slips toward 1,950. He said the money that investors poured into stocks when the index crossed above that mark could be pulled out.

"You could get people wanting to liquidate," Strazzullo said. "If you go below 1,950, the market can easily correct 10 percent, maybe more."

Apple, which closed at a record high of $103.30 on Sept. 2, sank $3.88 to $97.87 in heavy trading. It was the second-biggest drop in the S&P 500 index. In addition to the software glitch, some users of the new iPhone complained that the phone could be bent easily.

The dollar has been gaining on other major currencies as traders expect the Federal Reserve to start raising its key interest rate next year. The world's other major central banks are expected to sit tight or take other steps likely to weaken their currencies. On Thursday, the euro fell 0.2 percent to $1.275. The dollar fell to 108.73 yen.

Prices for U.S. government bonds jumped, driving the yield on the 10-year Treasury note down to 2.50 percent from 2.57 percent late Wednesday.

In commodity trading, gold rose $2.40 to $1,221.90 an ounce. Silver slipped 26 cents to $17.44 an ounce and copper lost two cents to $3.03 a pound.

The price of oil fell slightly on ample global supplies despite U.S. airstrikes against oil facilities controlled by the Islamic State group in Syria. Benchmark U.S. crude fell 27 cents to close at $92.53 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 5 cents to close at $97.00 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX, wholesale gasoline rose 5.4 cents to close at $2.718 a gallon, heating oil rose 0.7 cent to close at $2.696 a gallon and natural gas rose 6 cents to close at $3.971 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 167.35 points or ▲ 0.99% on Friday, 26 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,113.15 ▲ 167.35 ▲ 0.99%
Nasdaq____ 4,512.19 ▲ 45.45 ▲ 1.02%
S&P_500___ 1,982.85 ▲ 16.86 ▲ 0.86%
30_Yr_Bond____ 3.22 ▲ 0.00 ▼ -0.12%

NYSE Volume 2,936,573,750
Nasdaq Volume 1,602,907,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,649.39 ▲ 9.68 ▲ 0.15%
DAX_____ 9,490.55 ▼ -19.46 ▼ -0.20%
CAC_40__ 4,394.75 ▲ 39.47 ▲ 0.91%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,316.60 ▼ -65.80 ▼ -1.22%
Shanghai_Comp 2,347.72 ▲ 2.61 ▲ 0.11%
Taiwan_Weight 8,989.82 ▼ -21.77 ▼ -0.24%
Nikkei_225___ 16,229.86 ▼ -144.28 ▼ -0.88%
Hang_Seng.__ 23,678.41 ▼ -89.72 ▼ -0.38%
Strait_Times.__ 3,292.21 ▲ 1.22 ▲ 0.04%
NZX_50_Index_ 5,253.49 ▼ -24.37 ▼ -0.46%

http://finance.yahoo.com/news/asia-falls-europe-drifts-wall-091707099.html

US stocks end rocky week with a surge; Nike gains
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” Good economic and corporate news helped the stock market stage a rebound at the end of a turbulent week of trading. Nike jumped after turning in higher profits, leading the Dow Jones industrial average higher.

The Standard & Poor's 500 index, the benchmark for most mutual funds, still lost 1.4 percent for the week. The biggest drop came Thursday, the worst day for the stock market since July 31.

A steep drop one day is often followed by gains the next as investors hunt for beaten-down stocks. "After yesterday, it's only normal to get a little bit back because people tend to buy on the dips," said Jason Pride, director of investment strategy at Glenmede Trust.

The Dow surged 167.35 points, or 1 percent, to close at 17,113.15 on Friday. The S&P 500 index rose 16.86 points, or 0.9 percent, to 1,982.85 and the Nasdaq composite climbed 45.45 points, or 1 percent, to 4,512.19.

The day started with good news. The government reported that the U.S. economy expanded at an annual rate of 4.6 percent in the spring, the fastest pace in more than two years. That was followed by a strong reading of consumer sentiment this month.

Nike jumped 12 percent after reporting that solid sales and lower taxes helped drive its quarterly profit up 23 percent. Both its earnings and revenue beat Wall Street's estimates. Nike's stock gained $9.75 to $89.50, the largest gain among the 30 big companies in the Dow.

It was a roller coaster of a week, with the Dow swinging more than 100 points on all five days. The turbulence broke a long period of calm and light trading.

Some investment strategists expect to see more big swings as investors speculate over the Federal Reserve's next steps. Economists expect the Fed to raise its benchmark short-term interest rate next year, but nobody is sure exactly when. The Fed hasn't raised that rate since June 2006.

"We're getting closer and closer to the Fed's first rate hike," said Russ Koesterich, global chief investment strategist at the money manager BlackRock. "All that liquidity that the Fed created curbed volatility. As that liquidity recedes, volatility rises back to normal. We're just starting to get a taste of what normal is like."

Pride said he expects the market to resume its climb as the economy improves. "I think we'll continue to grind higher because the economic momentum is still there," he said.

Among other companies in the news, Janus's stock soared 43 percent following news that famed bond-fund manager Bill Gross, a founder of bond giant Pimco, is leaving to join the firm. Janus said Gross, who ran the world's largest bond fund, starts work next Monday. Janus jumped $4.78 to $15.89.

An investment fund with a stake in Yahoo sent a letter to Yahoo's CEO urging the company to consider merging with AOL. Jeffrey Smith, who heads Starboard Value, wrote that a deal could save as much as $1 billion and create a more competitive company. Yahoo climbed $1.71, or 4 percent, to $40.66.

The euro continued to slide against the dollar, dipping to $1.268. It has lost more than 3 percent against the dollar this month.

The report on economic growth weighed on U.S. government bond prices, nudging yields up. The yield on the 10-year Treasury note climbed to 2.53 percent from 2.50 percent late Thursday.

In commodity trading, precious and industrial metals made slight moves. The price of gold fell $6.50 to settle at $1,215.40 an ounce. Silver slipped 10 cents to $17.54 an ounce. Copper was unchanged at $3.03 a pound.

The price of oil increased on expectations of rising demand in the U.S., where economic growth appears to be picking up steam. Benchmark U.S. crude rose $1.01 to close at $93.54 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, remained unchanged at $97.00 a barrel on the ICE Futures exchange in London.

In other energy trading on the NYMEX:

”” Wholesale gasoline fell 5.6 cents to close at $2.662 a gallon.

”” Heating oil added 0.5 cent to close at $2.701 a gallon.

”” Natural gas rose 1.3 cents to close at $3.984 per 1,000 cubic feet.

4661

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -41.93 points or ▼ -0.25% on Monday, 29 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,071.22 ▼ -41.93 ▼ -0.25%
Nasdaq____ 4,505.85 ▼ -6.34 ▼ -0.14%
S&P_500___ 1,977.80 ▼ -5.05 ▼ -0.25%
30_Yr_Bond____ 3.18 ▼ -0.04 ▼ -1.12%

NYSE Volume 3,052,579,000
Nasdaq Volume 1,691,929,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,646.60 ▼ -2.79 ▼ -0.04%
DAX_____ 9,422.91 ▼ -67.64 ▼ -0.71%
CAC_40__ 4,358.07 ▼ -36.68 ▼ -0.83%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,269.60 ▼ -47.00 ▼ -0.88%
Shanghai_Comp 2,357.71 ▲ 9.99 ▲ 0.43%
Taiwan_Weight 8,960.76 ▼ -29.06 ▼ -0.32%
Nikkei_225___ 16,310.64 ▲ 80.78 ▲ 0.50%
Hang_Seng.__ 23,229.21 ▼ -449.20 ▼ -1.90%
Strait_Times.__ 3,289.72 ▼ -2.49 ▼ -0.08%
NZX_50_Index_ 5,259.51 ▲ 6.02 ▲ 0.11%

http://finance.yahoo.com/news/global-stocks-mixed-hong-kong-protests-expand-085048052--finance.html

US stocks head lower, following drops overseas
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” Concerns over high stock prices and global politics continued to plague markets Monday as major stock indexes ended with slight losses in another day of choppy trading. Pro-democracy protests in Hong Kong, a major world financial center, added to the host of political concerns on investors' minds.

It could have been worse. The Dow Jones industrial average sank 178 points in the opening minutes, a sudden drop of 1 percent, but then it climbed back.

"You have a ton of risks that have brought back in the market's focus," said Brad McMillan, chief investment officer for Commonwealth Financial in Waltham, Massachusetts. "There's just a heck of a lot of uncertainty right now."

The Dow lost 41.93 points, or 0.2 percent, to 17,071.22. The Standard & Poor's 500 index lost 5.05 points, or 0.3 percent, to 1,977.80. The Nasdaq composite slipped 6.34 points, or 0.1 percent, to 4,505.85.

DreamWorks Animation, the studio behind "Shrek" and "Madagascar," soared 26 percent following reports that Japan's SoftBank Corp. is in talks to buy the company. DreamWorks gained $5.82 to $28.18.

The market has turned choppy in recent weeks, flipping between solid gains and steep losses. Since hitting a record on Sept. 18, the S&P 500 has slipped 1.7 percent. Coming after a calm summer, the slide has set off a flurry of worried calls to brokerages.

John Canally, chief economic strategist at LPL Financial in Boston, said many investors think the market has gone too long without a major fall. "I can't tell you how many calls we're getting now asking, 'Is this it? Is this the big one?'" he said.

One reason for the recent turbulence is that the stock market appears "priced for perfection," McMillan said. It's an increasingly common saying among investors, and it means the S&P 500 is so high that corporate profits and the economy have to keep improving just to sustain current prices. Good news isn't enough.

"The question is no longer, are we doing well? It's, are we doing even better?" McMillan said. "When you pay for perfection, anything shy of that is a disappointment."

At current prices, investors are paying $16.69 for every dollar in company earnings, according to data from FactSet. That's 10 percent above the long-term average. "There's a certain amount of faith needed at this level," McMillan said.

Traders have pushed the stock market lower despite a string of encouraging economic news. The latest came from the Commerce Department, which reported on Monday that consumer spending rose 0.5 percent in August from the previous month. Auto sales made up about half of the increase. It was further evidence that the economy is on solid footing heading into the end of the year.

"The consumer is back in the driver's seat where they should be, moving the economy ahead at what looks like a strong 3 percent pace," said Chris Rupkey, chief financial economist at the Bank of Tokyo in New York, in a note to clients. "Somebody please tell the stock market. Can't ask more of the economy than that."

Pro-democracy protests in Hong Kong escalated Monday, raising concerns that a crackdown by the Chinese government could make the situation worse. Thousands of people took to the streets over the weekend in a challenge against Beijing's decision to limit political reforms. Police fired tear gas and detained 78 protesters.

The situation in Hong Kong weighed on its main stock index, the Hang Seng, which closed with a loss of 1.9 percent. Japan's Nikkei 225 index rose 0.5 percent, and China's Shanghai Composite added 0.4 percent.

Major markets in Europe sank. France's CAC-40 fell 0.8 percent, while Germany's DAX fell 0.7 percent. The FTSE 100 of leading British companies was flat.

Back in the U.S., NiSource surged 6 percent after saying that it plans to split off its natural-gas pipeline business into a stand-alone company. NiSource expects that new company, Columbia Pipeline Group, to be listed on the New York Stock Exchange by the middle of next year. NiSource climbed $2.26 to $40.84.

Prices for U.S. government bonds rose, sending yields lower. The yield on the 10-year Treasury note fell to 2.48 percent from 2.53 percent late Friday.

In commodities trading, the price of gold edged up $3.40 to settle at $1,218.80 an ounce, silver rose three cents to $17.57 an ounce and copper rose two cents to $3.06 a pound.

The price of oil rose amid signs that U.S. refineries are demanding more crude oil to boost output of gasoline. Benchmark U.S. oil gained $1.03 to $94.57 a barrel. Gasoline futures increased 3.44 cents to $2.696 a gallon.

Brent crude, a benchmark for international oils, rose 20 cents to $97.20 a barrel in London.

In other energy futures trading on NYMEX, heating oil was flat at $2.70 a gallon and natural gas rose 12.5 cents to $4.154 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -28.32 points or ▼ -0.17% on Tuesday, 30 September 2014
Symbol …........Last …......Change.......
Dow_Jones 17,042.90 ▼ -28.32 ▼ -0.17%
Nasdaq____ 4,493.39 ▼ -12.46 ▼ -0.28%
S&P_500___ 1,972.29 ▼ -5.51 ▼ -0.28%
30_Yr_Bond____ 3.21 ▲ 0.03 ▲ 1.01%

NYSE Volume 3,942,936,250
Nasdaq Volume 2,156,783,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,622.72 ▼ -23.88 ▼ -0.36%
DAX_____ 9,474.30 ▲ 51.39 ▲ 0.55%
CAC_40__ 4,416.24 ▲ 58.17 ▲ 1.33%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,296.80 ▲ 27.20 ▲ 0.52%
Shanghai_Comp 2,363.87 ▲ 6.16 ▲ 0.26%
Taiwan_Weight 8,966.92 ▲ 6.16 ▲ 0.07%
Nikkei_225___ 16,173.52 ▼ -137.12 ▼ -0.84%
Hang_Seng.__ 22,932.98 ▼ -296.23 ▼ -1.28%
Strait_Times.__ 3,276.74 ▼ -12.98 ▼ -0.39%
NZX_50_Index_ 5,255.04 ▼ -4.47 ▼ -0.08%

http://finance.yahoo.com/news/global-stocks-mostly-higher-us-082056678.html

Stocks slip, leaving S&P 500 down for September
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” A suddenly stormy month on the stock market came to a quiet end on Tuesday. Major indexes drifted to a slight loss, leaving the Standard & Poor's 500 down 1.6 percent for September, its third monthly drop this year.

The market spent Tuesday wavering between minor gains and losses, but there were big moves beneath the surface. Crude oil prices plunged, dragging down Chevron and other oil and gas companies. Ford Motor fell after cutting its profit forecast, while eBay jumped after announcing plans to spin off PayPal.

Trading has turned choppy over recent weeks. Lingering concerns over conflicts around the world, corporate profits and the strength of the global economy have all played a role, said Robert Pavlik, chief market strategist at Banyan Partners. Investors are also wary of the fact that some of the market's worst swoons have happened in the months of September and October.

"People are unsure at this time of the year," Pavlik said. "We're heading into October. Like September, it's another typically bad month for the market."

The Dow Jones industrial average fell 28.32 points, or 0.2 percent, to 17,042.90. The S&P 500 slipped 5.51 points, or 0.3 percent, to 1,972.29. The Nasdaq composite lost 12.46 points, also 0.3 percent, to 4,493.39.

Despite its bad reputation, September has actually been mostly good to investors. Before this year, the S&P 500 turned in a September loss just twice over the past decade: during the financial crisis in 2008 and again following a fight over raising the government's borrowing limit in 2011.

This month looked to be different. The S&P 500, the main benchmark for mutual funds, reached a record high on Sept. 18, supported by news of stronger economic growth in the U.S and reassuring words from Federal Reserve officials about keeping interest rates low. Turbulence hit the following week as investors began questioning whether the stock market was overpriced. Some warned that the market had been calm for too long.

"It's like when warm currents and cold currents converge, you get a lot of waves and turbulence," said Jack Ablin, chief investment officer at BMO Private Bank. "We're now at a point where we have sharply different opinions in the market. It's a tug of war."

EBay jumped 8 percent on Tuesday, the biggest gain in the S&P 500, following news that it plans to spin off its PayPal payment service into a publicly traded company next year. Carl Icahn, the billionaire investor, had been pushing eBay to make just such a move. EBay's President and CEO John Donahoe will step down after overseeing the split. Ebay jumped $3.97 to $56.63.

Benchmark U.S. crude plunged $3.41, or 3.6 percent, to settle at $91.16. More evidence of plentiful supplies have pushed prices down. Oil has also been dropping as the value of the U.S. dollar rises against other currencies.

Pro-democracy protests continued in Hong Kong, a major world financial hub. Thousands of peopled blocked streets in the business district and surrounding streets. They want the Chinese government to allow open elections for Hong Kong's top office, whereas Beijing wants candidates to be vetted by a panel dominated by supporters of the mainland government.

Hong Kong's Hang Seng Index tumbled 1.3 percent. Tokyo's Nikkei 225 was down as much as 1.5 percent before ending the day with a loss of 0.8 percent. China's Shanghai Composite Index added 0.3 percent.

In Europe, a new batch of economic reports furthered speculation that the European Central Bank might provide more support for the region's economy. The annual inflation rate dropped to 0.3 percent, the weakest rate since October 2009. The report added pressure on the ECB to start a more aggressive stimulus program through large-scale purchases of bonds.

Major markets in Europe ended mixed. France's CAC-40 rose 1.3 percent, while Germany's DAX gained 0.5 percent. Britain's FTSE 100 slipped 0.4 percent.

Back in the U.S., Ford's stock fell after an executive said late Monday that the car maker will fall short of its earnings targets this year. Bob Shanks, Ford's chief financial officer, said record profits in North America aren't enough to offset trouble in South America, where Ford expects to lose $1 billion this year, and Russia, where falling sales and a steep fall in the ruble took the company by surprise. Ford fell 32 cents, or 2 percent, to $14.79.

In other trading, U.S. government bond prices headed lower. That nudged the yield up on the 10-year Treasury note to 2.50 percent from 2.48 percent late Monday. Bond prices and their yields move in opposite directions.

Gold fell $7.20 to settle at $1,211.60 an ounce, silver fell 51 cents to $17.06 an ounce and copper dropped 5 cents to $3.01 a pound.

In other energy trading, Brent crude, a benchmark for many international oils imported by U.S. refiners, dropped $2.53, or 2.6 percent, to $94.67 a barrel in London.

On the NYMEX, wholesale gasoline dropped 11 cents to $2.587 a gallon, heating oil fell 5.69 cents to $2.647 a gallon and natural gas slid 3.3 cents to $4.121 per 1,000 cubic feet

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -238.19 points or ▼ -1.40% on Wednesday, 1 October 2014
Symbol …........Last …......Change.......
Dow_Jones 16,804.71 ▼ -238.19 ▼ -1.40%
Nasdaq____ 4,422.09 ▼ -71.30 ▼ -1.59%
S&P_500___ 1,946.16 ▼ -26.13 ▼ -1.32%
30_Yr_Bond____ 3.11 ▼ -0.10 ▼ -3.08%

NYSE Volume 4,194,915,000
Nasdaq Volume 2,241,799,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,557.52 ▼ -65.20 ▼ -0.98%
DAX_____ 9,382.03 ▼ -92.27 ▼ -0.97%
CAC_40__ 4,365.27 ▼ -50.97 ▼ -1.15%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,334.50 ▲ 37.70 ▲ 0.71%
Shanghai_Comp 2,363.87 ▲ 6.16 ▲ 0.26%
Taiwan_Weight 8,990.26 ▲ 23.34 ▲ 0.26%
Nikkei_225___ 16,082.25 ▼ -91.27 ▼ -0.56%
Hang_Seng.__ 22,932.98 ▼ -296.23 ▼ -1.28%
Strait_Times.__ 3,264.09 ▼ -12.65 ▼ -0.39%
NZX_50_Index_ 5,274.58 ▲ 19.55 ▲ 0.37%

http://finance.yahoo.com/news/asian-stocks-mixed-wall-street-064831142.html

US stocks drop sharply; Airlines sink
Associated Press
By KEN SWEET

NEW YORK (AP) ”” It was a rough start to October for financial markets.

Disappointing economic news in the U.S. and abroad drove down stocks on Wednesday. The Dow Jones industrial average slumped 200 points. And nervous investors shifted their money to havens like bonds and gold.

At first U.S. stocks were driven lower by word that German manufacturing had slowed last month. The selling accelerated after a separate survey indicated U.S. manufacturing slowed as well.

"A lot of people thought this economic data was going to be robust, so when it was weak, everyone moved to reposition," said Tom di Galoma, head of rates and credit trading at ED&F Man Capital.

Investors also were skittish following news that the first case of Ebola had been diagnosed in the U.S. They dumped airlines on concerns that travel will decline and bought a handful of drug companies working on experimental treatments for the deadly disease.

The blue chip Dow index lost 238.19 points, or 1.4 percent, to 16,804.71. The Standard & Poor's 500 index lost 26.13 points, or 1.3 percent, to 1,946.16 and the Nasdaq composite lost 71.30 points, or 1.6 percent, to 4,422.09.

The declines follow a weak performance in September, just the third monthly loss for the stock market this year. Geopolitical worries, a weakening European economy and the prospect of higher interest rates have weighed on stocks, even though corporate earnings and the economic outlook remain healthy in the U.S.

The report that set off most of the selling in the U.S. was the Institute for Supply Management's monthly manufacturing survey, one of the more closely watched economic indicators that investors look for each month. The ISM index came in at 56.6, below the 58.5 economists expected.

In Germany, Markit reported that manufacturing contracted in September, the latest sign that Europe is being affected by the economic sanctions on Russia. It was the first slowdown in 15 months.

The report came a day before Naples, Italy hosts the European Central Bank's latest policy meeting. Investors will follow closely what ECB President Mario Draghi says about possible stimulus from the central bank following recent weak economic news in Europe.

In European markets, Germany's DAX finished 1 percent lower, France's CAC 40 lost 1.2 percent and the U.K.'s FTSE 100 ended down 1 percent.

"We're in a global economy these days, and U.S. companies get a lot of their revenue and earnings from outside the U.S.," said Matthew Rubin, director of investment strategy at Neuberger Berman. "Investors have valid concerns that the European slowdown could hit companies' bottom line."

Traders moved quickly into U.S. government bonds. The yield on the 10-year Treasury note dropped to 2.39 percent from 2.49 percent late Tuesday, a big move. Gold prices rose $3.90, or 0.3 percent, to $1,215.50 an ounce.

Utility stocks, which investors favor during times of volatility because of their higher-than-average dividends, were among the few that rose Wednesday. The Dow Jones utility index, a collection of 15 utility companies, increased 0.4 percent.

Investors are looking ahead to Friday, when the U.S. government will release the monthly job figures. Economists are expecting that employers added 215,000 workers last month and no change in the unemployment rate, which stands at 6.1 percent.

Despite October's bad start, analysts believe the next three months should be good for investors.

In recent years, the stock market has risen sharply in the last three months of the year. The S&P 500 rose 10 percent in the fourth quarter of 2013 and 11 percent in the same period in 2011. The index fell in the fourth quarter of 2012, but only by 1 percent.

"The reports were negative today, but most investors believe the U.S. economy is on solid footing and is still on track for a recovery," Rubin said. "I still think it's a good time to be an investor in the market."

The S&P 500 index remains 3 percent below its all-time closing high from September 18.

Airlines were among the hardest hit Wednesday as investors feared people would be discouraged from traveling. American Airlines fell $1.09, or 3 percent, to $34.39 and Delta fell $1.25, or 3.5 percent, to $34.90. Southwest Airlines fell $1.22, or 3.6 percent, to $32.55.

Drugmakers developing potential vaccines or treatments for Ebola rose. Tekmira Pharmaceuticals jumped $4.11, or 17 percent, to $27.85 after the company said it may start clinical trials for an Ebola drug this year. NewLink Genetics, another company looking into Ebola treatments, rose $1.53, or 7 percent, to $22.95.

In commodities, the price of oil fell to its lowest price since April 2013 on concerns that a weakening global economy could lower oil demand. Benchmark U.S. crude fell 43 cents to close at $90.73 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 51 cents to close at $94.16 on the ICE Futures exchange in London.

In other energy futures trading, wholesale gasoline rose 1.2 cents to close at $2.450 a gallon, heating oil rose 0.5 cent to close at $2.656 a gallon and natural gas fell 9.8 cents to close at $4.023 per 1,000 cubic feet.

Silver rose 20 cents to $17.26 an ounce. Copper rose three cents to $3.04 a pound.