NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

The U.S. stock market will be closed on Thursday for the Thanksgiving holiday. It will also close early, at 1:00 p.m. Eastern time, on Friday.

The NYSE DOW closed HIGHER ▲ 12.81 points or ▲ 0.07% on Wednesday, 26 November 2014
Symbol …........Last …......Change.......
Dow_Jones 17,827.75 ▲ 12.81 ▲ 0.07%
Nasdaq____ 4,787.32 ▲ 29.07 ▲ 0.61%
S&P_500___ 2,072.83 ▲ 5.80 ▲ 0.28%
30_Yr_Bond____ 2.94 ▼ -0.03 ▼ -0.88%

NYSE Volume 2,716,401,750
Nasdaq Volume 1,337,862,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,729.17 ▼ -1.97 ▼ -0.03%
DAX_____ 9,915.56 ▲ 54.35 ▲ 0.55%
CAC_40__ 4,373.42 ▼ -8.89 ▼ -0.20%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,380.30 ▲ 59.40 ▲ 1.12%
Shanghai_Comp 2,604.35 ▲ 36.75 ▲ 1.43%
Taiwan_Weight 9,122.39 ▲ 6.15 ▲ 0.07%
Nikkei_225___ 17,383.58 ▼ -24.04 ▼ -0.14%
Hang_Seng.__ 24,111.98 ▲ 268.07 ▲ 1.12%
Strait_Times.__ 3,349.66 ▲ 4.67 ▲ 0.14%
NZX_50_Index_ 5,457.39 ▲ 14.71 ▲ 0.27%

http://finance.yahoo.com/news/asia-stocks-rise-us-growth-revised-higher-051459019--finance.html

US stock market inches to record ahead of holiday
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” The U.S. stock market eked out another record close on Wednesday ahead of the Thanksgiving holiday as investors assessed the latest reports on the economy and some corporate earnings.

Orders for long-lasting manufactured goods rose in October, but a key category that tracks business investment plans declined sharply for a second straight month. Another report showed U.S. consumers spent modestly more in October, a slight improvement after no gain at all in the previous month.

The reports paint a picture of a "good, but not great" economy, said Scott Keifer, global investment specialist at JPMorgan Private Bank. Slow growth is keeping inflation low and that's holding down interest rates. The result is an environment in which stocks can prosper.

"There seems to be a feeling that the markets are going to continue to drift higher as we get to the end of the year," said Keifer, who is based in Orange County, Calif.

The Standard & Poor's 500 index rose 5.80 points, or 0.3 percent, to 2,072.83. The index has now closed at an all-time high on 47 occasions this year.

The Dow Jones industrial average rose 12.81 points, or 0.1 percent, to 17,827.75. The Nasdaq composite climbed 29.07 points, or 0.6 percent, to 4,787.32.

Semiconductor stocks were among the gainers on Wednesday after Analog Devices reported income and revenue that exceeded Wall Street's forecasts. The company said it expects revenue growth of 21 percent in its first fiscal quarter. The stock jumped $2.85, or 5.5 percent, to $54.56, leading gains for semiconductor stocks in the S&P 500, which rose 2.3 percent.

Stocks have rebounded strongly from a slump that lasted from mid-September to mid-October. The S&P 500 has surged 11.3 percent since then. The gains have slowed this week, however, ahead of the Thanksgiving holiday.

"This seems to be a classic holiday plateau," said Kristina Hooper, head of US Capital Markets Research & Strategy for Allianz Global Investors. "Probably, we are not going to get any focus until we come back on Monday."

The U.S. stock market will be closed on Thursday for the Thanksgiving holiday. It will also close early, at 1:00 p.m. Eastern time, on Friday.

The company's fourth-quarter results were stronger than Wall Street expected, but the company said its sales of farm equipment and its income will keep falling in the company's new fiscal year. Deere's stock slid 80 cents, or 0.9 percent, to $86.99.

Energy stocks were once again the biggest loser of the 10 industry groups represented in the S&P 500 index as the price of oil dipped again.

The price of oil slid to another four-year low in light trading ahead of an OPEC meeting Thursday in Vienna that is not expected to result in a cut to global production.

Benchmark U.S. crude fell 40 cents to close at $73.69 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 58 cents to close at $77.75 a barrel on the ICE Futures exchange in London.

Energy stocks slumped 1.1 percent, taking their loss for the year to 5.6 percent. The sector is the only group in the S&P 500 to be down for the year.

In metals trading, futures closed little changed from the day before. Gold fell 50 cents to $1,196.60 an ounce, silver edged down half a cent to $16.55 an ounce and copper was flat at $2.96 a pound.

In bond trading, U.S. Treasury prices rose slightly. The yield on the benchmark 10-year note fell to 2.24 percent from 2.26 on Tuesday.

The dollar edged down to 117.65 yen from 117.85 yen late Tuesday. The euro rose to $1.2507 from $1.2477 late Tuesday.

 

[bigdog]

Source: http://finance.yahoo.com

The US markets were closed for the Thanksgiving public holiday.

The NYSE DOW closed HIGHER ▲ 12.81 points or ▲ 0.07% on Wednesday, 26 November 2014
Symbol …........Last …......Change.......
Dow_Jones 17,827.75 ▲ 12.81 ▲ 0.07%
Nasdaq____ 4,787.32 ▲ 29.07 ▲ 0.61%
S&P_500___ 2,072.83 ▲ 5.80 ▲ 0.28%
30_Yr_Bond____ 2.94 ▼ -0.03 ▼ -0.88%

NYSE Volume 2,745,953,250
Nasdaq Volume 1,342,729,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,723.42 ▼ -5.75 ▼ -0.09%
DAX_____ 9,974.87 ▲ 59.31 ▲ 0.60%
CAC_40__ 4,382.34 ▲ 8.92 ▲ 0.20%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,381.40 ▲ 1.10 ▲ 0.02%
Shanghai_Comp 2,630.49 ▲ 26.14 ▲ 1.00%
Taiwan_Weight 9,165.31 ▲ 42.92 ▲ 0.47%
Nikkei_225___ 17,248.50 ▼ -135.08 ▼ -0.78%
Hang_Seng.__ 24,004.28 ▼ -107.70 ▼ -0.45%
Strait_Times.__ 3,340.96 ▼ -8.70 ▼ -0.26%
NZX_50_Index_ 5,455.38 ▼ -2.01 ▼ -0.04%

http://news.brisbanetimes.com.au/br...rnational-markets-roundup-20141128-3ldms.html

International markets roundup
Date November 28, 2014 - 6:25AM

NEW YORK - The US markets were closed for the Thanksgiving public holiday.

LONDON - Borrowing costs for the German and French governments have fallen to record lows on the prospect of quantitative easing in the struggling eurozone, while the euro slid further and stocks gained.

In Frankfurt, the DAX 30 climbed 0.60 per cent to 9,974.87 points and in Paris the CAC 40 rose 0.20 per cent to 4,382.34 points.
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London's benchmark FTSE 100 index was pulled down, however, by falling prices for energy company stocks after the OPEC oil cartel decided not to cut output despite a supply gut, ending off 0.09 per cent at 6,723.42 points.

A signal by a senior ECB official on Wednesday that the central bank could begin major purchases of government bonds of eurozone countries sent the yields, or interest paid, on them down as investors tried to lock in returns.

HONG KONG - Asian stocks were mixed in lacklustre trade, while oil prices hit a new four-year low ahead of a pivotal OPEC meeting expected to maintain the cartel's production levels despite a huge glut.

Tokyo stocks lost 0.78 per cent on Thursday as a stronger yen took the wind out of the market ahead of the Thanksgiving holiday, which will see US markets closed Thursday and open for shortened trade on Friday.

The Hang Seng Index fell 0.45 per cent or 107.70 points to 24,004.28 on turnover of HK$72.888 billion (US$9.4 billion) ahead of an Organisation of the Petroleum Exporting Countries (OPEC) decision on quotas and after an unexpected drop in Chinese industrial profits.

Coming in at its highest close in more than three years, the benchmark Shanghai Composite Index gained 1.00 per cent, or 26.15 points, to 2,630.49 on turnover of 339.0 billion yuan ($55.2 billion). It was the exchange's highest ending since August 4, 2011.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, rose 0.75 per cent, or 10.52 points, to 1,416.18 on turnover of 270.6 billion yuan.

Sydney edged up 0.09 per cent to close at 5,400.9 points, with Seoul also ending up slightly by 0.06 per cent to 1,982.09 points.

WELLINGTON - The NZX 50 Index fell 2.014 points, or 0.03 per cent, to 5455.378.

 

[bigdog]

Source: http://finance.yahoo.com

Regular U.S. trading closed at 1 p.m. Eastern time on Friday and the market was shut Thursday for the Thanksgiving holiday.

The NYSE DOW closed HIGHER ▲ 0.49 points or ▲ 0.00% on Friday, 28 November 2014
Symbol …........Last …......Change.......
Dow_Jones 17,828.24 ▲ 0.49 ▲ 0.00%
Nasdaq____ 4,791.63 ▲ 4.31 ▲ 0.09%
S&P_500___ 2,067.56 ▼ -5.27 ▼ -0.25%
30_Yr_Bond____ 2.91 ▼ -0.03 ▼ -1.02%

NYSE Volume 2,493,856,000
Nasdaq Volume 981,031,810

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,722.62 ▼ -0.80 ▼ -0.01%
DAX_____ 9,980.85 ▲ 5.98 ▲ 0.06%
CAC_40__ 4,390.18 ▲ 7.84 ▲ 0.18%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,298.10 ▼ -83.30 ▼ -1.55%
Shanghai_Comp 2,682.83 ▲ 52.35 ▲ 1.99%
Taiwan_Weight 9,187.15 ▲ 21.84 ▲ 0.24%
Nikkei_225___ 17,459.85 ▲ 211.35 ▲ 1.23%
Hang_Seng.__ 23,987.45 ▼ -16.83 ▼ -0.07%
Strait_Times.__ 3,350.50 ▲ 9.54 ▲ 0.29%
NZX_50_Index_ 5,424.45 ▼ -30.93 ▼ -0.57%

http://finance.yahoo.com/news/asian-energy-shares-slide-opec-052912113.html

Stocks slip as crude oil sinks
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) — A sharp drop in crude prices tugged down shares in oil and gas companies on Friday, leading the Standard & Poor's 500 index to a slight loss in a short trading session.

The index, a benchmark for many investments, still closed out November with its third-best month this year.

"Crude is the big story today," said JJ Kinahan, TD Ameritrade's chief strategist. "There are very clear winners and losers. The Chevrons and Exxons of the world are getting hammered; then on the other side you have the shipping companies — UPS and FedEx — along with the airlines. For them, it's a beautiful story."

The S&P 500 index lost 5.27 points, or 0.3 percent, to close at 2,067.56. As a group, energy companies lost 6 percent, the worst drop of the 10 sectors in the S&P 500 by far.

The Dow Jones industrial average inched up 0.49 of a point, a sliver of a percent, to eke out another record high, 17,828.24. The Nasdaq composite picked up 4.31 points, less than 0.1 percent, to 4,791.63. Regular U.S. trading closed at 1 p.m. Eastern time on Friday and the market was shut Thursday for the Thanksgiving holiday.

Rising corporate profits and a steadily improving U.S. economy have helped push the stock market to record highs this month. The S&P 500 gained 2.5 percent in November. But it was a quiet climb, a combination of many small steps. There wasn't a single day in November that the index rose more than 1 percent.

The main news driving trading was a decision made Thursday by the OPEC oil cartel to keep production at 30 million barrels a day. That announcement hit oil prices hard as traders expect the global supply of oil to stay high. Crude oil slumped $7.54, or 10 percent, to settle at $66.15.

The recent slide for oil prices has had a double-edged effect on the market. It has given a boost to airlines, shippers, retailers and cruise lines, which benefit from both falling costs and customers having more money in their pockets to spend. But it has battered drillers, producers and other companies that provide services to the oil and gas industry.

It was the same story Friday. United Parcel Service gained 3 percent, and FedEx added 2 percent.

Around the world, the slide in crude prices pulled oil and gas companies down. Newfield Exploration lost 16 percent and QEP Resources 15 percent, the two steepest drops by any company in the S&P 500 index.

In Asia, China's state-owned oil giant CNOOC, the country's biggest crude producer, plunged. In Europe, shares in Royal Dutch Shell, Total and other energy giants fell.

Despite those steep drops, Europe's major markets ended with slight gains. France's CAC 40 added 0.2 percent, while Germany's DAX inched up 0.1 percent. In the U.K, the FTSE 100 index of leading British companies barely moved from the previous day.

"The template for equity markets today has been clear from the beginning," said Alastair McCaig, market analyst at IG. "Oil and energy manufacturers are down, while those companies that are oil consumers are up."

In metals trading, the price of gold for February delivery lost $22 to $1,175.50 an ounce, and silver for March fell $1.05 to $15.56 an ounce. Copper for March fell 11 cents to $2.85 a pound.

In other energy futures trading on the New York Mercantile Exchange:

— Wholesale gasoline for January delivery fell 18 cents to close at $1.83 a gallon.

— January Heating oil fell 17 cents to close at $2.16 a gallon.

— January natural gas fell 27 cents to close $4.09 at per 1,000 cubic feet

8988

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -51.44 points or ▼ -0.29% on Monday, 1 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,776.80 ▼ -51.44 ▼ -0.29%
Nasdaq____ 4,727.35 ▼ -64.28 ▼ -1.34%
S&P_500___ 2,053.44 ▼ -14.12 ▼ -0.68%
30_Yr_Bond____ 2.95 ▲ 0.04 ▲ 1.24%

NYSE Volume 4,107,670,250
Nasdaq Volume 1,841,476,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,656.37 ▼ -66.25 ▼ -0.99%
DAX_____ 9,963.51 ▼ -17.34 ▼ -0.17%
CAC_40__ 4,377.33 ▼ -12.85 ▼ -0.29%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,190.70 ▼ -107.40 ▼ -2.03%
Shanghai_Comp 2,680.16 ▼ -2.68 ▼ -0.10%
Taiwan_Weight 9,117.71 ▼ -69.44 ▼ -0.76%
Nikkei_225___ 17,590.10 ▲ 130.25 ▲ 0.75%
Hang_Seng.__ 23,367.45 ▼ -620.00 ▼ -2.58%
Strait_Times.__ 3,305.64 ▼ -44.86 ▼ -1.34%
NZX_50_Index_ 5,429.62 ▲ 5.18 ▲ 0.10%

http://finance.yahoo.com/news/stocks-sink-retail-sales-slip-china-slows-151813512--finance.html

Stocks slip after retail sales weaken, China slows
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” Mounting signs of weakness in the global economy and a poor start to the holiday shopping season knocked the stock market lower on Monday.

Earlier sales, a shift to online shopping and stagnant wages meant fewer Americans showed up to stores over the Thanksgiving weekend, the National Retail Federation said Sunday. The trade group estimated that total spending for the four days totaled $50.9 billion, down 11 percent from last year.

Major retailers slumped in response. Macy's lost $1.72, or 3 percent, to $63.19 and Target fell $1.25, or 2 percent, to $72.75. Best Buy lost $2.15, or 6 percent, to $37.26.

New reports of slowing manufacturing in China as well as in the three largest economies that use the European currency -- Germany, France and Italy -- also gave investors little reason to cheer.

The Standard & Poor's 500 index fell 14.12 points, or 0.7 percent, to close at 2,053.44. The losses were widespread: General Electric and other industrial companies led eight of the ten sectors in the index down.

The Dow Jones industrial average dropped 51.44 points, or 0.3 percent, to 17,776.80, while the Nasdaq composite fell 64.28 points, or 1.3 percent, to 4,727.35.

It was a weak start to what has been the stock market's best month on average. Since 1950, the S&P 500 has ended December with a typical gain of 1.7 percent, according to the "Stock Trader's Almanac." But after a strong 11 percent run this year, the market looks relatively expensive. The S&P 500 index trades at 17.6 times its profits over the past 12 months, well above the long-term average.

Peter Cardillo, chief market economist at Rockwell Global Capital, said more reports of slow economic growth around the world and falling oil prices could drive the market down in the coming weeks. But he thinks any setback will likely prove temporary. "Maybe the weakness in the global economy will take some of the starch out of our economy," he said. "It probably will, just not so much that it really hurts corporate earnings."

A survey by HSBC showed Chinese manufacturing activity lost steam in November, adding to signs of an economic slowdown. HSBC said its purchasing managers' index edged down to 50 from 50.4 the previous month. On the index's 100-point scale, numbers below 50 indicate contraction. China's economic growth slowed to a five-year low of 7.3 percent in the latest quarter.

"The November PMIs confirm that growth in China's industry remains under downward pressure," Louis Kuijs of Royal Bank of Scotland wrote in a report to investors.

In Asia, Hong Kong's Hang Seng index plunged 2.6 percent, while the Shanghai Composite Index slipped 0.1 percent. Japan's benchmark stock index Nikkei 225 added 0.8 percent.

Major stock markets in Europe closed with slight losses. Germany's DAX sank 0.2 percent, and France's CAC 40 dropped 0.3 percent. Britain's FTSE 100 slid 1 percent. Russia's RTS index lost 1.6 percent.

Back in the U.S., DreamWorks Animation slumped after its latest movie, "Penguins of Madagascar," had a weaker box-office opening over the Thanksgiving weekend than analysts had expected. The sequel to its popular "Madagascar" movie took second place to the newest installment of "The Hunger Games" series. DreamWorks' stock plunged $1.33, or 6 percent, to $22.51.

In the bond market, the yield on the 10-year Treasury note rose to 2.23 percent from 2.16 percent late Friday. High demand for U.S. government bonds has kept yields low.

Precious metals surged. Gold jumped $42.60 to settle at $1,218.10 an ounce, while silver surged $1.14 to $16.69 an ounce. Copper rose five cents to $2.90 a pound.

Oil posted its biggest percentage gain in more than two years, stemming a rout that had knocked about $40 off the price of a barrel of crude since June. Analysts still expect oil prices to remain weak given OPEC's decision last week to maintain its current production targets. That, combined with rising production in the U.S., has created an oversupplied oil market. Benchmark U.S. crude jumped $2.85, or 4 percent, to close at an even $69 a barrel on the New York Mercantile Exchange.

In other trading on the NYMEX:

”” Wholesale gasoline rose 5 cents to $1.88 a gallon

”” Heating oil rose 5 cents to $2.21 a gallon.

”” Natural gas fell 8 cents to $4.01 per 1,000 cubic feet

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 102.75 points or ▲ 0.58% on Tuesday, 2 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,879.55 ▲ 102.75 ▲ 0.58%
Nasdaq____ 4,755.81 ▲ 28.46 ▲ 0.60%
S&P_500___ 2,066.55 ▲ 13.11 ▲ 0.64%
30_Yr_Bond____ 3.00 ▲ 0.06 ▲ 1.97%

NYSE Volume 3,630,131,750
Nasdaq Volume 1,789,936,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,742.10 ▲ 85.73 ▲ 1.29%
DAX_____ 9,934.08 ▼ -29.43 ▼ -0.30%
CAC_40__ 4,388.30 ▲ 10.97 ▲ 0.25%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,260.00 ▲ 69.30 ▲ 1.34%
Shanghai_Comp 2,763.54 ▲ 83.39 ▲ 3.11%
Taiwan_Weight 9,034.79 ▼ -82.92 ▼ -0.91%
Nikkei_225___ 17,663.22 ▲ 73.12 ▲ 0.42%
Hang_Seng.__ 23,654.30 ▲ 286.85 ▲ 1.23%
Strait_Times.__ 3,322.32 ▲ 16.68 ▲ 0.50%
NZX_50_Index_ 5,418.78 ▼ -10.84 ▼ -0.20%

http://finance.yahoo.com/news/asia-stocks-drift-global-economic-outlook-dims-051008917.html

Energy companies lead an advance in US stocks
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” Energy and health-care companies led major stock indexes higher on Tuesday, even as crude oil resumed its slide. General Motors rose after reporting stronger sales, and Biogen, a biotech company, soared following news that its drug for Alzheimer's disease showed promise.

Reports that fewer people turned out to shop over the Thanksgiving weekend helped knock the market down on Monday. But those concerns were likely overblown, as other evidence suggests that people simply wanted to avoid the crowds at Black Friday sales, said Brad McMillan, the chief investment officer at Commonwealth Financial. IBM Digital Analytics, for instance, said that sales on Cyber Monday jumped 8 percent.

"I think what you're seeing is a little reality settling in," McMillan said. "Look at Cyber Monday numbers. You see that and say hmm, maybe it's not going to be so bad after all."

The Standard & Poor's 500 index rose 13.11 points, or 0.6 percent, to 2,066.55.

The Dow Jones industrial average gained 102.75 points, or 0.6 percent, to 17,879.55, while the Nasdaq composite rose 28.46 points, or 0.6 percent, to 4,755.81. Oil and gas companies led nine of the 10 industries in the S&P 500 higher.

The one economic report out Tuesday gave investors some encouragement. Newly built houses and schools lifted U.S. construction spending in October to the highest level since May, the Commerce Department said. Overall construction spending climbed 1.1 percent, higher than economists' forecasts.

General Motors posted solid sales gains in the U.S. last month, helped by discounts and falling gas prices. GM's sales climbed 6 percent to nearly 226,000 in November. The carmaker's stock gained 32 cents, or 1 percent, to $33.26.

Among other companies making big moves, Avanir Pharmaceuticals soared on news that Otsuka Pharmaceuticals of Japan plans to buy the company for $3.5 billion. Under the terms of the deal, Otsuka would pay Avanir investors $17 per share in cash. Avanir's stock jumped $1.92, or 13 percent, to $16.92.

Crude oil prices resumed their long slide, falling $2.12 to settle at $66.88 a barrel in New York trading. The slump has rippled throughout financial markets in recent weeks, putting stress on oil-exporting countries such as Russia. On Tuesday, Russia's government forecast that the country's economy will shrink next year. That helped send Russia's currency down 5 percent against the dollar and drive its RTS stock index down 3 percent.

"The economic conditions Russia is facing right now are aggressively against its economy," said Jameel Ahmad, Chief Market Analyst for FXTM.

Elsewhere in Europe, Germany's DAX slipped 0.3 percent, while France's CAC 40 inched up 0.3 percent. In the U.K., the FTSE 100 index of leading British shares gained 1.3 percent.

In Asia, Japan's Nikkei rose 0.4 percent. In China, the Shanghai Composite Index climbed 3 percent, and Hong Kong's Hang Seng added 1.2 percent.

Traders will have a batch of economic news to digest over the rest of the week. On Thursday, the European Central Bank meets to discuss whether the region's flagging economy needs more support. On Friday, the U.S. Labor Department releases its look at employment in November, a report that often sends markets swinging.

In other trading on Tuesday, government bond prices fell, pushing the yield on the 10-year Treasury note up to 2.29 percent.

Prices for precious metals sank. Gold dropped $18.70 to settle at $1,199.40 an ounce, while silver slid 24 cents to $16.46 an ounce. Copper dipped a penny to $2.89 a pound.

In other trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 7 cents to close at $1.812 a gallon.

”” Heating oil fell 6 cents to close at $2.154 a gallon.

”” Natural gas fell 13 cents to close at $3.874 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 33.07 points or ▲ 0.18% on Wednesday, 3 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,912.62 ▲ 33.07 ▲ 0.18%
Nasdaq____ 4,774.47 ▲ 18.66 ▲ 0.39%
S&P_500___ 2,074.33 ▲ 7.78 ▲ 0.38%
30_Yr_Bond____ 2.99 ▼ -0.01 ▼ -0.37%

NYSE Volume 3,556,792,000
Nasdaq Volume 1,704,877,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,716.63 ▼ -25.47 ▼ -0.38%
DAX_____ 9,971.79 ▲ 37.71 ▲ 0.38%
CAC_40__ 4,391.86 ▲ 3.56 ▲ 0.08%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,301.20 ▲ 41.20 ▲ 0.78%
Shanghai_Comp 2,779.53 ▲ 15.98 ▲ 0.58%
Taiwan_Weight 9,175.26 ▲ 140.47 ▲ 1.55%
Nikkei_225___ 17,720.43 ▲ 57.21 ▲ 0.32%
Hang_Seng.__ 23,428.62 ▼ -225.68 ▼ -0.95%
Strait_Times.__ 3,303.39 ▼ -18.93 ▼ -0.57%
NZX_50_Index_ 5,500.76 ▲ 10.53 ▲ 0.19%

http://finance.yahoo.com/news/us-stocks-extend-record-run-220529806.html

US stocks extend record run ahead of jobs report

US stocks extend record run ahead of jobs report; Material stocks lead gains for market
Associated Press
By Matthew Craft and Steve Rothwell, AP Business Writers

NEW YORK (AP) -- A batch of good news on the economy Wednesday pushed the stock market to new highs.

Payroll processer ADP said that U.S. companies added 208,000 jobs in November, the third straight month that hiring has topped 200,000. A separate report showed that service sector activity climbed close to an eight-month high in November.

The reports were an encouraging sign before the government's monthly jobs survey is published on Friday.

"There is nothing more important than employment data," said Russell Price, senior economist at Ameriprise Financial. "More income fuels more consumer spending over time."

The Standard & Poor's 500 index rose 7.78 points, or 0.4 percent, to 2,074.33. The Dow Jones industrial average rose 33.07 points, or 0.2 percent, to 17,912.62. The Nasdaq composite climbed 18.66 points, or 0.4 percent, to 4,774.47.

After rebounding from a slump in mid-October, stocks have been gradually moving higher on optimism that the U.S. economy will continue to improve next year. Investors are also hopeful that actions by central banks outside of the U.S. will help bolster global growth.

Economists forecast that the U.S. government will say employers added 225,000 jobs in November and that the unemployment rate slipped to 5.7 percent from 5.8 percent, according the financial data provider FactSet.

"The biggest, most important economic statistic in the world looks like it will continue its winning streak if this morning's ADP employment report is to be believed," Christopher Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi, wrote in a note to clients. "Things are better than you think."

On Wednesday, stocks also got a lift from the energy sector as the price of oil showed signs of stabilizing. The sector rose for a third straight day, as drilling companies and other businesses that provide services to the oil and gas industry gained.

Cimarex Energy, an oil and gas exploration company, was among the biggest gainers in the S&P 500. Its stock surged $5.27, or 5.1 percent, to $108.17.

The energy sector has pared its loss for the year to 7.4 percent after this week's gains. The industry group is the only one of the 10 industry groups in the S&P 500 to be down for the year.

In energy trading, the price of U.S. benchmark crude rose 50 cents to $67.38 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 62 cents to close at $69.92 on the ICE Futures exchange in London. That's the lowest close for Brent since May of 2010.

Among individual stocks, Abercrombie & Fitch surged after the clothing store for teens reported that its quarterly profit topped analysts' estimates, even though sales slumped. Abercrombie gained 97 cents, or 3.5 percent, to $28.81.

In government bond trading, prices for U.S. government bonds edged higher. The yield on the 10-year Treasury note declined to 2.28 from 2.29 percent on Tuesday.

Prices of precious metals were mixed. Gold rose $9.30 to settle at $1,208.70 an ounce, while silver slipped 4 cents to $16.41 an ounce. Copper dipped 2 cents to $2.87 a pound.

In currency trading, the dollar rose against the Japanese yen, to 119.83 yen from 119.22 yen. The U.S. currency also gained against the euro, pushing the euro down to $1.231.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline fell 0.5 cents to close at $1.807 a gallon

”” Heating oil fell 2.1 cents to close at $2.133 a gallon.

”” Natural gas fell 6.9 cents to close at $3.805 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -12.52 points or ▼ -0.07% on Thursday, 4 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,900.10 ▼ -12.52 ▼ -0.07%
Nasdaq____ 4,769.44 ▼ -5.04 ▼ -0.11%
S&P_500___ 2,071.92 ▼ -2.41 ▼ -0.12%
30_Yr_Bond____ 2.96 ▼ -0.04 ▼ -1.17%

NYSE Volume 3,346,948,500
Nasdaq Volume 1,686,070,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,679.37 ▼ -37.26 ▼ -0.55%
DAX_____ 9,851.35 ▼ -120.44 ▼ -1.21%
CAC_40__ 4,323.89 ▼ -67.97 ▼ -1.55%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,345.40 ▲ 44.20 ▲ 0.83%
Shanghai_Comp 2,899.46 ▲ 119.93 ▲ 4.31%
Taiwan_Weight 9,225.11 ▲ 49.85 ▲ 0.54%
Nikkei_225___ 17,887.21 ▲ 166.78 ▲ 0.94%
Hang_Seng.__ 23,832.56 ▲ 403.94 ▲ 1.72%
Strait_Times.__ 3,304.82 ▲ 1.43 ▲ 0.04%
NZX_50_Index_ 5,500.76 ▲ 10.53 ▲ 0.19%

http://finance.yahoo.com/news/europe-stocks-steady-ahead-ecb-china-surges-085317800--finance.html

Stocks slip on ECB stimulus speculation
Associated Press
By KEN SWEET

NEW YORK (AP) ”” The stock market posted slight losses Thursday after European Central Bank officials decided to delay any stimulus for the struggling continent until next year. Investors also braced for the release of Friday's closely watched U.S. jobs report.

Stocks had been solidly lower much of the day, but did recover some of their losses after news outlets reported that the European Central Bank would consider a large stimulus package for next month.

Earlier comments from ECB President Mario Draghi were initially interpreted to mean the bank wouldn't act until next year, but by late Thursday consensus was building that stimulus was imminent.

"The ECB and Draghi basically said, 'we don't know what we are doing yet, but when we do it next month, it's going to be big,'" said Ian Winer, head of equity trading at Wedbush Securities.

The Dow Jones industrial average fell 12.52 points, or 0.1 percent, to 17,900.10. It was down nearly 100 points earlier in the day.

The Standard & Poor's 500 index fell 2.41 points, or 0.1 percent, to 2,071.92 and the Nasdaq composite fell 5.04 points, or 0.1 percent, to 4,769.44.

Energy stocks were among the hardest hit. The S&P 500's energy sector lost nearly 1 percent as the price of oil sank yet again. Benchmark U.S. crude fell 57 cents to close at $66.81 a barrel on the New York Mercantile Exchange on news that Saudi Arabia reduced its January prices to U.S. and Asian customers. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 28 cents to close at $69.64 on the ICE Futures exchange in London.

Bloomberg News reported that ECB officials are considering a large bond-purchasing program that will include European government debt, citing unnamed central bank figures. The report followed the ECB's decision Thursday to keep its main interest rate unchanged at a record low of 0.05 percent.

Draghi hinted at a news conference that the bank could act early next year. He said the ECB will reassess the success of its existing stimulus programs and the impact of low oil prices on Europe's economy. If needed, the ECB could do more, he said.

Draghi's comments and the Bloomberg News report indicate that the ECB is getting ready to make its own large-scale purchases of government bonds. The policy, known as quantitative easing, or "QE," has been used by the U.S. Federal Reserve, the Bank of England and the Bank of Japan.

Europe has been a point of worry for investors all year. The economic sanctions that Europe imposed on Russia, one of its biggest trading partners, following Russia's annexation of Crimea has taken a toll on the entire continent. Europe has teetered on the brink of recession as Germany, Europe's largest economy, has stagnated. If Europe slipped into recession, it would be its third recession since 2008.

Jonathan Loynes, chief European economist at Capital Economics, also expects a program of government bond purchases to be launched in January. "But whether it will be big and effective enough to revive the eurozone economy is another matter," he added.

In the U.S., the main focus will be the November jobs report, which comes out Friday. Following some solid hiring data on Wednesday from private payrolls firm ADP, economists expect that employers added 225,000 jobs last month and that the unemployment rate slipped to 5.7 percent from 5.8 percent.

Traders got another piece of job-related news Thursday. The number of people who filed for unemployment benefits fell by 17,000 to 297,000, the Labor Department said. A reading below 300,000 has been a signal that hiring continues to pick up in the U.S.

"At current levels, (the jobless claims numbers) are consistent with a very low layoff rate and solid employment growth," Guy Berger and Michelle Girard, economists at RBS, wrote in a note to clients.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.24 percent from 2.28 percent late Wednesday.

Barnes & Noble dropped $1.21, or 5.4 percent, to $21.03 after the company terminated its commercial agreement with Microsoft for its Nook e-reader. Barnes & Noble bought out Microsoft's stake in the Nook for $120 million in cash and stock, freeing the company to spin off its Nook business down the road. Microsoft rose 76 cents, or 1.6 percent, to $48.84.

In other energy futures trading:

”” Wholesale gasoline fell 1.2 cents to close at $1.795 a gallon

”” Heating oil fell 1.5 cents to close at $2.118 a gallon.

”” Natural gas fell 15.6 cents to close at $3.649 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 58.69 points or ▲ 0.33% on Friday, 5 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,958.79 ▲ 58.69 ▲ 0.33%
Nasdaq____ 4,780.76 ▲ 11.32 ▲ 0.24%
S&P_500___ 2,075.37 ▲ 3.45 ▲ 0.17%
30_Yr_Bond____ 2.96 ▲ 0.01 ▲ 0.20%

NYSE Volume 3,350,294,250
Nasdaq Volume 1,736,323,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,742.84 ▲ 63.47 ▲ 0.95%
DAX_____ 10,087.12 ▲ 235.77 ▲ 2.39%
CAC_40__ 4,419.48 ▲ 95.59 ▲ 2.21%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,313.60 ▼ -31.80 ▼ -0.59%
Shanghai_Comp 2,937.65 ▲ 38.19 ▲ 1.32%
Taiwan_Weight 9,206.57 ▼ -18.54 ▼ -0.20%
Nikkei_225___ 17,920.45 ▲ 33.24 ▲ 0.19%
Hang_Seng.__ 24,002.64 ▲ 170.08 ▲ 0.71%
Strait_Times.__ 3,324.39 ▲ 19.57 ▲ 0.59%
NZX_50_Index_ 5,500.76 ▲ 10.53 ▲ 0.19%

http://finance.yahoo.com/news/stocks-rise-hiring-surge-dow-211531810.html

Stocks rise after hiring surge; Dow misses 18,000

US, European stocks rise modestly after strong November jobs report; Dow flirts with 18,000
Associated Press
By Ken Sweet, AP Business Writer

NEW YORK (AP) -- A strong jobs report boosted U.S. and European stocks Friday, and left the Dow Jones industrial average just short of the 18,000 mark.

The main focus in the markets was the monthly hiring numbers. The Labor Department said U.S. employers added 321,000 jobs last month, the biggest burst of hiring in nearly three years, while the unemployment rate remained steady at 5.8 percent.

Despite the good news, stock gains were restrained. Investors now expect that the robust jobs growth — and other signs the economy is accelerating — could lead the Federal Reserve to raise interest rates sooner than anticipated.

Banks, whose profit margins increase when interest rates rise, were among Friday's biggest gainers. Safety-focused utility stocks, which tend to perform poorly in an improving economy, were among the biggest decliners, along with energy companies, which were hurt once again by lower oil prices.

With Friday's modest increases, the Standard & Poor's 500 index closed out a seventh-straight week of gains. The stretch was its longest winning streak in a year and in stark contrast to the near-correction in the market only a month-and-a-half ago.

"We continue to see this steady drip into the equities markets, and I don't think it's going to stop any time soon," said David Kelly, chief global strategist for J.P. Morgan Funds.

The Dow Jones industrial average rose 58.69 points, or 0.3 percent, to 17,958.79. The S&P 500 index climbed 3.45 points, or 0.2 percent, to 2,075.37. The Nasdaq composite gained 11.32 points, or 0.2 percent, to 4,780.76.

November's jobs report, as well as other positive economic data, could raise expectations among investors that the Federal Reserve will soon start raising interest rates. Last month marks the 10th straight month of job gains above 200,000, and would put 2014 on track to be the best year for hiring since 1999.

The yield on the benchmark 10-year U.S. Treasury note climbed to 2.31 percent Friday from 2.24 percent the day before as investors sold bonds in anticipation of higher rates.

"The bottom line is this was yet another very solid employment report and another strong data point reaffirming the strength of U.S. growth versus a sluggish global (economy)," Rick Rieder, chief investment officer of fundamental fixed income at BlackRock, wrote in a note to reporters.

Investors like seeing a healthy U.S. economy, but are also aware that stock prices are higher partly because of ultra-low interest rates. If the Fed believes the U.S. economy is overheating, they could raise interest rates and it could cause stock prices to decline.

Not all stocks would be losers in a higher interest rate environment. Bank stocks rose Friday, with JPMorgan Chase, Citigroup, Bank of America, and Wells Fargo up 1 percent to 2.5 percent. Higher interest rates would allow banks to charge more for loans and that would boost their profits.

Still, those gains weren't enough to push the Dow to another round-number landmark. Just five months after cresting the 17,000-point level for the first time, the Dow is on the verge of 18,000. The blue chips came within nine points of that figure Friday, before pulling back.

Still, the Dow's performance this year has trailed the other major indexes. The average is up 8.3 percent in 2014, while the S&P 500, which is tracked more by mutual funds and Wall Street, is up 12.3 percent. The Nasdaq is up the most, rising 14.5 percent.

The price of oil fell Friday to its lowest level since July of 2009 on continued expectations of high global supplies and Saudi Arabia's decision to cut its prices.

Benchmark U.S. crude fell 97 cents to close at $65.84 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell for the ninth time in the last 10 trading sessions, closing down 57 cents to $69.07 in London.

Energy stocks followed oil prices lower. Chevron fell $1.41, or 1.3 percent, to $110.87. Marathon Petroleum lost $4.52, or 4.7 percent, to $92.15 and Phillips 66 fell $1.95, or 2.6 percent, to $73.02.

Along with the improving economy, the drop in oil prices has been encouraging to investors. Lower oil prices and, in turn, falling gas prices, are effectively a tax cut for the average person, and it could translate into higher spending down the road.

The dollar rose against other currencies as traders anticipated more robust growth in the U.S. and higher interest rates.

The price of gold fell $17.30, or 1.4 percent, to $1,190.40 an ounce. Silver fell 32 cents, or 1.9 percent, to $16.26 an ounce. Copper slipped a penny to $2.90 a pound.

9718

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -106.31 points or ▼ -0.59% on Monday, 8 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,852.48 ▼ -106.31 ▼ -0.59%
Nasdaq____ 4,740.69 ▼ -40.06 ▼ -0.84%
S&P_500___ 2,060.31 ▼ -15.06 ▼ -0.73%
30_Yr_Bond____ 2.90 ▼ -0.06 ▼ -2.13%

NYSE Volume 3,775,885,500
Nasdaq Volume 1,896,057,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,672.15 ▼ -70.69 ▼ -1.05%
DAX_____ 10,014.99 ▼ -72.13 ▼ -0.72%
CAC_40__ 4,375.48 ▼ -44.00 ▼ -1.00%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,348.90 ▲ 35.30 ▲ 0.66%
Shanghai_Comp 3,020.26 ▲ 82.61 ▲ 2.81%
Taiwan_Weight 9,187.29 ▼ -19.28 ▼ -0.21%
Nikkei_225___ 17,935.64 ▲ 15.19 ▲ 0.08%
Hang_Seng.__ 24,047.67 ▲ 45.03 ▲ 0.19%
Strait_Times.__ 3,297.84 ▼ -26.55 ▼ -0.80%
NZX_50_Index_ 5,500.76 ▲ 10.53 ▲ 0.19%

http://finance.yahoo.com/news/us-stocks-fall-energy-sector-215300955.html

US stocks fall as energy sector drops sharply

Stocks fall as the energy sector sinks near a 2-year low; McDonald's falls on weak sales
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- U.S. stocks fell on Monday as oil prices turned sharply lower and spooked investors into dumping shares of drillers and other energy-service companies.

The drop in oil weighed on stocks from the start of trading. Weak trade figures out of China and news that Japan's recession is deeper than initially thought suggested demand for crude would be lower in those two economies. Among the big losers were two Dow Jones industrial average components, Chevron, down 3.7 percent, and Exxon Mobil, off 2.3 percent.

More broadly, the six-month drop in oil, which has brought the price of crude down to the lowest level in five years, suggests headwinds for the U.S. economy, said Bill Strazzullo, chief market strategist at Bell Curve Trading.

"When you look at the major drivers of global growth ”” Japan, China and the eurozone ”” they're really struggling," he said. "Can the U.S. continue to grow at a moderate pace when the rest of the world is having major problems?"

Energy shares in the Standard and Poor's 500, a broader index than the Dow, dropped to their lowest level in nearly two years. The decline of 3.9 percent was by far the biggest percentage drop among the 10 sectors in the index. Six of the 10 sectors fell.

Selling was especially fierce in shares of smaller companies in the oil business. Cimarex Energy, Transocean, and Noble Energy were each down at least 5 percent.

The Dow lost 106.31 points, or 0.6 percent, to 17,852.48. The Standard & Poor's 500 index fell 15.06 points, or 0.7 percent, to 2,060.31. The Nasdaq composite fell 40.06 points, or 0.8 percent, to 4,740.69

Stocks have been rising steadily since mid-October. An encouraging jobs report on Friday showing the biggest burst in hiring in nearly three years helped push the S&P 500 to a record, capping a seven-week winning streak, its longest this year.

For its part, the Dow came within nine points of breaching 18,000 points on Friday, just five months after passing 17,000.

But troubles in Asia and falling stocks in Europe on Monday put that milestone further from reach.

In China, the world's No. 2 economy, the government reported that export growth fell sharply last month and imports unexpectedly contracted. The news followed figures showing China's economy growing at its slowest pace in five years.

In Japan, revised figures for the July-September quarter showed its economy shrank 1.9 percent, a bigger drop than previously estimated.

In Europe, German industrial production inched up 0.2 percent in October, less than expected. Europe's biggest economy is barely growing, up just 0.1 percent in the third quarter.

The news combined to push down benchmark crude 4 percent.

John Manley, chief stock strategist at Wells Fargo Funds, noted that there is an optimistic take on the oil slump. Falling oil means drivers saving money on filling their gas tanks, which could translate into people spending more in stores this holiday season.

"If Americans have a bit more money, they tend to spend more," Manley said.

Among other stocks making big moves:

””McDonald's, another Dow component, lost 3.8 percent. That was the biggest loss in the blue-chip index. Investors sold after learning that a key global sales figure slipped 2.2 percent in November. U.S. sales continued to fall and the company fought to recover from a food-safety scandal in China. Stock in the world's biggest hamburger chain sank $3.70 to $92.61.

”” Merck & Co. agreed to pay $8.4 billion to buy Cubist Pharmaceuticals, a leader in developing drugs to fight so-called superbugs that have evolved to resist antibiotics. Cubist jumped $26.24, or 35 percent, to $100.60. Merck rose 39 cents, or 0.6 percent, to $61.88.

Benchmark crude oil dropped $2.79 to $63.05 a barrel in New York. Brent crude, which is used to price oil sold on international markets, dropped $2.88, or 4 percent, to $66.19 a barrel. Both prices are at their lowest levels since 2009.

In other energy futures trading:

”” Wholesale gasoline dropped 6.68 cents to $1.707 a gallon

”” Heating oil fell 5.29 cents to $2.055 a gallon

”” Natural gas plunged 20.7 cents to $3.595 per 1,000 cubic feet.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.26 percent.

In metals trading, the price of gold rose $4.50 to $1,194.90 an ounce, silver inched up two cents to $16.28 an ounce, and copper fell two cents to $2.89 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -51.28 points or ▼ -0.29% on Tuesday, 9 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,801.20 ▼ -51.28 ▼ -0.29%
Nasdaq____ 4,766.47 ▲ 25.77 ▲ 0.54%
S&P_500___ 2,059.82 ▼ -0.49 ▼ -0.02%
30_Yr_Bond____ 2.88 ▼ -0.03 ▼ -0.90%

NYSE Volume 3,970,537,000
Nasdaq Volume 1,850,982,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,529.47 ▼ -142.68 ▼ -2.14%
DAX_____ 9,793.71 ▼ -221.28 ▼ -2.21%
CAC_40__ 4,263.94 ▼ -111.54 ▼ -2.55%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,258.30 ▼ -90.60 ▼ -1.69%
Shanghai_Comp 2,856.27 ▼ -163.99 ▼ -5.43%
Taiwan_Weight 9,128.90 ▼ -58.39 ▼ -0.64%
Nikkei_225___ 17,813.38 ▼ -122.26 ▼ -0.68%
Hang_Seng.__ 23,485.83 ▼ -561.84 ▼ -2.34%
Strait_Times.__ 3,319.84 ▲ 22.00 ▲ 0.67%
NZX_50_Index_ 5,500.76 ▲ 10.53 ▲ 0.19%

http://finance.yahoo.com/news/china-shares-plunge-other-asian-markets-falter-080702363.html

US stocks are mostly spared from a global sell-off
Associated Press
By KEN SWEET

NEW YORK (AP) ”” The U.S. stock market ended slightly lower Tuesday, avoiding the sharp declines in Europe and Asia thanks to a rally in beaten-down energy companies.

After an early sell-off, the Dow Jones industrial average steadied and ended with a moderate loss of 0.3 percent. That followed a sharp drop in European indexes, most notably in Greece, where the stock market suffered its biggest one-day loss since 1987. Greek officials called an early presidential vote, and investors feared the outcome could jeopardize the country's bailout program.

Stocks in China also stumbled, interrupting a months-long surge, after regulators there tightened rules for lending.

At the end of the day, the Dow lost 51.28 points to close at 17,801.20. It was down as much as 222 points in early trading. The Standard & Poor's 500 index closed effectively unchanged on the day, down 0.49 of a point to 2,059.82. The Nasdaq composite added 25.77 points, or 0.5 percent, to 4,766.47.

Energy companies were among the best performers, helped by a rebound in oil prices from a five-year low. Six out of the 10 biggest advancers in the S&P 500 were oil and gas exploration companies.

The gains in the energy industry were a respite for a sector that has been hit hard this year. The S&P 500 energy index is down 12 percent in 2014, versus the 11 percent rise in the overall market.

Telecom companies were among the biggest decliners Tuesday.

Verizon fell $1.98, or 4 percent, to $46.92 after the company said its wireless division's recent practice of deep discounting and buying out competitors' contracts could hurt the company's profit margins. AT&T, another major wireless carrier, also dropped. AT&T fell 99 cents, or 3 percent, to $32.89.

While the losses in the U.S. were slight, the losses in Europe were far deeper. France's CAC-40 closed down 2.6 percent and Germany's DAX lost 2.2 percent. Britain's FTSE 100 shed 2.1 percent.

The Athens stock exchange plunged 13 percent as investors worried that the country might have to hold early general elections and that a left-wing opposition party would win. The Syriza party wants to cut what Greece owes in bailout money, which could spook investors for years and potentially derail the country's recovery.

"It's somewhat of a gamble the prime minister is playing," said Phil Camporeale, a portfolio manager for J.P. Morgan Asset Management. "While there isn't the contagion issue there was in Europe two years ago, it's still not good for the eurozone."

Major Chinese oil and bank stocks fell, some by the daily limit of 10 percent allowed by regulators, after China's clearing house for securities trades raised the minimum rating for corporate bonds it would accept in exchange for short-term credit. That prompted concerns about the availability of financing for trades.

Tuesday's decline in Chinese stocks interrupted a buying frenzy that has pushed the Shanghai benchmark up 41 percent since June.

Hu Guopeng, an analyst at Founder Securities in Beijing, said the plunge in China was a "technical correction" linked to the uncertainty about the availability of credit.

It "does not mean the end of the market boom," Hu said.

U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.21 percent from 2.26 percent late Monday. The dollar declined 1.2 percent against the Japanese currency to 119.64 yen. The euro rose 0.1 percent to $1.238.

The price of oil rose Tuesday as the value of the dollar fell. Because oil is priced in dollars, a weaker dollar makes oil more attractive to global investors. Benchmark U.S. crude rose 77 cents to close at $63.82 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 65 cents to close at $66.84 on the ICE Futures exchange in London.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline rose 1.7 cents to close at $1.724 a gallon

”” Heating oil rose 2.9 cents to close at $2.084 a gallon.

”” Natural gas rose 5.7 cents to close at $3.652 per 1,000 cubic feet.

The price of gold rose $37.10, or 3.1 percent, to $1,232 an ounce. Silver jumped 86 cents, or 5.3 percent, to $17.13 an ounce and copper rose four cents, or 1.5 percent, to $2.93 an ounce.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -268.05 points or ▼ -1.51% on Wednesday, 10 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,533.15 ▼ -268.05 ▼ -1.51%
Nasdaq____ 4,684.03 ▼ -82.44 ▼ -1.73%
S&P_500___ 2,026.14 ▼ -33.68 ▼ -1.64%
30_Yr_Bond____ 2.84 ▼ -0.04 ▼ -1.39%

NYSE Volume 4,080,167,000
Nasdaq Volume 1,732,016,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,500.04 ▼ -29.43 ▼ -0.45%
DAX_____ 9,799.73 ▲ 6.02 ▲ 0.06%
CAC_40__ 4,227.91 ▼ -36.03 ▼ -0.84%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,237.10 ▼ -21.20 ▼ -0.40%
Shanghai_Comp 2,940.01 ▲ 83.74 ▲ 2.93%
Taiwan_Weight 9,032.16 ▼ -96.74 ▼ -1.06%
Nikkei_225___ 17,412.58 ▼ -400.80 ▼ -2.25%
Hang_Seng.__ 23,524.52 ▲ 38.69 ▲ 0.16%
Strait_Times.__ 3,326.47 ▲ 6.63 ▲ 0.20%
NZX_50_Index_ 5,500.76 ▲ 10.53 ▲ 0.19%

http://finance.yahoo.com/news/asian-shares-mostly-lower-weak-china-data-052214167.html

US stocks slide the most in two months
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” Oil resumed its slide on Wednesday and took the stock market down with it.

The catalyst for the latest sell-off in oil was an OPEC report that projected demand for its crude would sink next year to levels not seen in more than a decade. Demand for the cartel's oil has been eroded as other countries such as the U.S. have stepped up production.

The decline in the price of oil accelerated after the U.S. Energy Department reported that domestic oil inventories had increased. Analysts expected a decline.

Benchmark U.S. crude fell $2.88 to close at $60.94 a barrel. The price of oil has now dropped more than 40 percent from a peak of $107 in June.

The wider fallout from the plunge in the price of oil may be starting to worry investors. While lower oil prices are good for consumers and some industries, if prices continue to drop some producers may be forced out of business.

"The slide in oil has been pretty dramatic," said Randy Frederick, managing director of trading and derivatives with the Schwab Center for Financial Research. "There is an over-reaction to these lower energy prices, which is what we seem to be seeing right now, where it becomes more panic selling."

The Standard & Poor's 500 index fell 33.68 points, or 1.6 percent, to 2,026.14. The decline was the biggest for the index since Oct. 13.

The Dow Jones industrial average dropped 268.05 points, or 1.5 percent, to 17,533.15. The Nasdaq composite fell 82.44 points, or 1.7 percent, to 4,684.03.

Falling oil prices and concerns about global growth have pushed stocks down sharply since they closed at record levels on Friday. The market rose that day after the government reported a jump in hiring in November that put the U.S. on track for the healthiest year for job creation since 1999.

The resilience of the U.S. economy has prompted investors to speculate that the Federal Reserve will signal next week that it is nearing its first rate increase in more than eight years. The prospect of higher rates is unsettling for some investors as the market's almost six-year bull run has come against a backdrop of unprecedented stimulus.

Federal Reserve policymakers are scheduled to convene a two-day meeting on Dec. 16.

"The stronger employment data and economic data that we have gotten has only increased people's confidence that the Fed is going to be raising rates by the (middle) of next year," said Rob Eschweiler, global investment specialist at J.P. Morgan Private Bank in Houston.

Among individual stocks, Yum Brands, which owns the Taco Bell, KFC and Pizza Hut chains, was one of the day's big losers.

The stock slumped after the company cut its profit outlook for the year late Tuesday. It said sales in China are recovering more slowly than expected after a food-safety scare. Yum fell $4.69, or 6.2 percent, to $70.53.

Shares of airlines, which are heavy fuel users, rose as oil plunged. Southwest Airlines gained 75 cents, or 1.8 percent, to $41.48. The stock has gained 120 percent this year.

Government bond prices rose. The yield on the benchmark 10-year Treasury note fell to 2.17 percent from 2.21 percent on Tuesday. In currency trading, the dollar fell to 117.90 yen from 119.40 late Tuesday. The euro rose to $1.2445 from $1.2385.

In metals trading, Gold was little changed, dropping $2.60, or 0.2 percent, to $1,229.40 an ounce. Silver rose 5.3 cents, or 0.3 percent, to $17.19 an ounce. Copper fell 3.5 cents, or 1.2 percent, to $2.89 per pound.

In other energy trading, Brent crude, a benchmark for international oils used by many U.S. refineries, fell $2.60, or 3.9 percent, to $64.24 a barrel on the ICE Futures exchange in London.

”” Wholesale gasoline fell 8.2 cents to close at $1.642 a gallon.

”” Heating oil fell 3.8 cents to close at $2.046 a gallon.

”” Natural gas rose 5.4 cents to close at $3.706 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 63.19 points or ▲ 0.36% on Thursday, 11 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,596.34 ▲ 63.19 ▲ 0.36%
Nasdaq____ 4,708.16 ▲ 24.14 ▲ 0.52%
S&P_500___ 2,035.33 ▲ 9.19 ▲ 0.45%
30_Yr_Bond____ 2.83 ▼ -0.01 ▼ -0.35%

NYSE Volume 3,928,738,750
Nasdaq Volume 1,717,401,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,461.70 ▼ -38.34 ▼ -0.59%
DAX_____ 9,862.53 ▲ 62.80 ▲ 0.64%
CAC_40__ 4,225.86 ▼ -2.05 ▼ -0.05%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,207.40 ▼ -29.70 ▼ -0.57%
Shanghai_Comp 2,925.74 ▼ -14.26 ▼ -0.49%
Taiwan_Weight 9,013.07 ▼ -19.09 ▼ -0.21%
Nikkei_225___ 17,257.40 ▼ -155.18 ▼ -0.89%
Hang_Seng.__ 23,312.54 ▼ -211.98 ▼ -0.90%
Strait_Times.__ 3,320.37 ▼ -5.44 ▼ -0.16%
NZX_50_Index_ 5,500.76 ▲ 10.53 ▲ 0.19%

http://finance.yahoo.com/news/europe-stocks-gain-asia-down-global-economy-jitters-085248939.html

Retail sales report boosts US stock market
Associated Press
By KEN SWEET

NEW YORK (AP) ”” Good news on U.S. retail sales lifted the stock market Thursday, although worries about the latest plunge in oil prices kept the gains in check.

Investors are caught between two conflicting thoughts: the improving U.S. economy, lower energy costs and higher consumer spending are expected to boost profits for many companies. But the recent drop in oil prices, which has accelerated in recent days, has investors worried that earnings for energy companies will suffer.

The drop in the price of oil has been a significant reason why stocks on pace to post their first weekly loss in nearly two months.

"Here on one hand the U.S. economy is doing very well. You can see it today in the retail sales numbers. But the global economy isn't doing well, which is why oil prices are dropping," said Russ Koesterich, global chief investment strategist at Blackrock.

The Dow Jones industrial average rose 63.19 points, or 0.4 percent, to 17,596.34. It was up 225 points earlier.

The Standard & Poor's 500 index rose 9.19 points, or 0.5 percent, to 2,035.33 and the Nasdaq composite rose 24.14 points, or 0.5 percent, to 4,708.16.

Companies that rely the most on spending by consumers rose the most Thursday. The S&P 500 consumer discretionary sector, a category that includes department stores and other retailers, gained 0.7 percent, while makers of consumer staples increased 0.8 percent.

Urban Outfitters, GameStop, Coach, Best Buy and Macy's were among the biggest gainers.

The rise came after the Commerce Department said U.S. retail sales rose by 0.7 percent in November. The encouraging retail sales report could not have come at a more crucial time for retailers, since holiday sales often mean the difference between retail companies reporting a profit or a loss for the year.

Falling gasoline prices led to a decline of 0.8 percent in sales at gas stations, but that money was likely spent elsewhere, investors said.

"(Lower oil prices) are a very big tax cut for U.S. consumers," Koesterich said. "Middle-income families are spending what they would spend on gas on other parts of the economy."

Another downturn in the price of oil discouraged buyers.

Oil fell 99 cents to close at $59.95 a barrel, its first time below $60 a barrel in more than five years. That's on top of steep plunges of $2.88 a barrel on Wednesday and $2.79 a barrel Monday. It's down sharply from its recent high of $107 a barrel in June.

Earlier in the day, oil prices seemed to be holding steady above that $60 mark, which in turn helped keep energy stocks higher. But oil could not keep up the momentum, and slid in afternoon trading.

"Once oil broke $60 a barrel, the market followed," said Jonathan Corpina, a trader at Meridian Equity Partners.

While lower oil prices are good for consumers, many energy companies rely on high oil prices to justify drilling in remote parts of the globe for hard-to-reach reserves of crude. Energy companies also make up a big part of the U.S. stock market.

Oil drillers and drilling equipment suppliers were among the biggest decliners. Nabors Industries fell 34 cents, or 3 percent, to $10.51. Transocean lost 37 cents, or 2 percent, to $17.02. Chesapeake Energy fell 43 cents, or 2.5 percent, to $16.71.

With the decline in oil, the S&P 500's energy component is down 7 percent this week alone. It's down 13 percent for the year.

"Now with oil prices coming down so much ... people are just getting a little bit nervous and they're taking their gains before they lose them before year-end," said Robert Pavlik, chief market strategist at Banyan Partners.

Among individual companies, Lending Club, a peer-to-peer lending platform, rose $8.43, or 56 percent, to $23.43 on its first day of trading. Lending Club's initial public offering priced at $15 a share on Wednesday night, above the estimated range.

U.S. government bond prices were little changed. The yield on the 10-year Treasury note held at 2.17 percent. The dollar rose 1.4 percent against the yen to 118.98 yen. The euro fell 0.7 percent to $1.2395.

Precious and industrial metals futures closed mixed. February gold fell $3.80 to $1,225.60 an ounce, March silver fell eight cents to $17.11 an ounce and March copper rose three cents to $2.92 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -315.51 points or ▼ -1.79% on Friday, 12 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,280.83 ▼ -315.51 ▼ -1.79%
Nasdaq____ 4,653.60 ▼ -54.57 ▼ -1.16%
S&P_500___ 2,002.33 ▼ -33.00 ▼ -1.62%
30_Yr_Bond____ 2.76 ▼ -0.07 ▼ -2.44%

NYSE Volume 4,151,594,500
Nasdaq Volume 1,740,966,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,300.63 ▼ -161.07 ▼ -2.49%
DAX_____ 9,594.73 ▼ -267.80 ▼ -2.72%
CAC_40__ 4,108.93 ▼ -116.93 ▼ -2.77%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,196.90 ▼ -10.50 ▼ -0.20%
Shanghai_Comp 2,938.17 ▲ 12.43 ▲ 0.42%
Taiwan_Weight 9,027.33 ▲ 14.26 ▲ 0.16%
Nikkei_225___ 17,371.58 ▲ 114.18 ▲ 0.66%
Hang_Seng.__ 23,249.20 ▼ -63.34 ▼ -0.27%
Strait_Times.__ 3,324.13 ▲ 5.43 ▲ 0.16%
NZX_50_Index_ 5,500.76 ▲ 10.53 ▲ 0.19%

http://finance.yahoo.com/news/us-stocks-plunge-oil-rout-214904669.html

US stocks plunge as oil rout continues

US stocks slump to worst weekly loss in more than two years as oil rout continues
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- What a difference a week makes.

Seven days after closing at record levels on the back of a strong employment report, the stock market slumped to its worst weekly loss in two and a half years. The catalyst for the sell-off was an extension of a rout in oil prices.

Oil plunged Friday for the fourth time in five days after the International Energy Agency said global oil demand will grow less than previously forecast next year. The price of oil fell 12 percent for the week, going below $60 per barrel on Thursday for the first time since July 2009. Oil has now fallen 47 percent since reaching a peak of $107 in June this year.

A debate is raging among analysts and investors over whether tumbling oil prices are a net advantage, or a detriment, to the economy and the stock market. While consumers benefit from lower gas prices, energy companies will take a hit as their earnings are crimped. Those companies will also spend less on plants and equipment, hurting their suppliers.

Investors are also starting to worry whether the slump in demand for oil is signaling that growth outside of the U.S. is weaker than had been thought. The last time oil prices were this low was when the U.S. economy was emerging from the Great Recession.

"In a nation like the U.S. (as well as) Europe and most of Asia, the benefits of falling oil outweighs the costs," said Jeff Kleintop, Schwab's chief global investment strategist. "The concern is that there's something more to it, given such a sharp decline, that there's something deeper here."

The Standard & Poor's fell 33 points, or 1.6 percent, to 2,002.33. The index dropped 3.5 percent in the week, its biggest drop since May 2012.

The Dow Jones industrial average dropped 315.51 points, or 1.8 percent, to 17,280.83. The Nasdaq composite dropped 54.57 points, or 1.2 percent, to 4,653.60.

After flirting with a close above 18,000 just one week ago, the Dow has now shed more than 700 points after being weighed down by big losses in Exxon Mobil and Chevron.

Stocks started the day lower after a report showed that growth in factory output in China, the world's second-largest economy, declined last month.

The data came after Chinese leaders affirmed their commitment to the "new normal" of slower growth as they try to steer China toward a more sustainable expansion based on domestic consumption.

U.S. benchmark oil dropped $2.14, or 3.6 percent, to $57.81 a barrel. Brent, the international benchmark, lost $1.83, or 2.9 percent, to $61.85 a barrel. Energy stocks in the S&P 500 index fell 2.1 percent, taking their loss for the year to 16.5 percent.

Some companies bucked the downward trend.

Adobe reported fourth-quarter results late Thursday that beat Wall Street expectations. Adobe also said it will pay $800 million to buy the stock image and video company Fotolia. The stock jumped $6.28, or 9 percent, to $76.02.

Government bond prices rose. The yield on the benchmark 10-year Treasury note, which falls when prices rise, dropped to 2.08 percent from 2.17 percent Thursday.

The dollar fell. The U.S. currency dropped 0.2 percent to 118.74 yen. The euro rose 0.5 percent against the dollar to $1.24593.

In metals trading, silver fell six cents, or 0.3 percent, to $17.06 an ounce. Gold dropped $3.10, or 0.3 percent, to $1,222.50. Copper rose a penny, or 0.4 percent, to $2.93 a pound.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 2.7 cents to close at $1.597 a gallon.

— Heating oil fell 4.5 cents to close at $2.016 a gallon.

— Natural gas rose 16.1 cents to close at $3.795 per 1,000 cubic feet.

0407

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -99.99 points or ▼ -0.58% on Monday, 15 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,180.84 ▼ -99.99 ▼ -0.58%
Nasdaq____ 4,605.16 ▼ -48.44 ▼ -1.04%
S&P_500___ 1,989.63 ▼ -12.70 ▼ -0.63%
30_Yr_Bond____ 2.75 ▼ -0.01 ▼ -0.40%

NYSE Volume 4,336,358,000
Nasdaq Volume 2,047,896,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,182.72 ▼ -117.91 ▼ -1.87%
DAX_____ 9,334.01 ▼ -260.72 ▼ -2.72%
CAC_40__ 4,005.38 ▼ -103.55 ▼ -2.52%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,164.60 ▼ -32.30 ▼ -0.62%
Shanghai_Comp 2,953.42 ▲ 15.25 ▲ 0.52%
Taiwan_Weight 8,985.63 ▼ -41.70 ▼ -0.46%
Nikkei_225___ 17,099.40 ▼ -272.18 ▼ -1.57%
Hang_Seng.__ 23,027.85 ▼ -221.35 ▼ -0.95%
Strait_Times.__ 3,294.14 ▼ -29.99 ▼ -0.90%
NZX_50_Index_ 5,499.07 ▼ -15.88 ▼ -0.29%

http://finance.yahoo.com/news/stocks-fall-biggest-weekly-loss-191835533.html

Stocks fall after biggest weekly loss since 2012

US stocks fall after biggest weekly loss since 2012; Russian ruble hits record low
Associated Press
By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Falling oil prices pushed U.S. stocks down broadly on Monday, extending losses into a second week.

European stocks also fell, and the Russian ruble plunged to a record low against the dollar as the continuing collapse in the price of oil reverberated through global financial markets.

A brief rally after trading opened in the U.S. vanished as crude oil continued a six-month slide that has slashed its price nearly in half. Global demand for oil has been waning just as supplies are becoming more abundant.

The stock losses in the U.S. were modest, but markets in Germany and France fell more than 2 percent. The Russian ruble plunged, sending stocks sharply lower there, too.

The Standard & Poor's 500 fell 12.70 points, or 0.6 percent, to 1,989.63. All 10 industry sectors in the index dropped. The losses followed a 3.5 percent drop in the S&P 500 last week, its biggest decline since May 2012.

"People are taking profits, and it can go on for a while," said Uri Landesman, president of Platinum Partners, an investment fund in New York. "You're seeing a mini-correction."

A solid report on U.S. manufacturers and some merger news helped jolt markets higher after the open, but the gains evaporated after an hour as crude prices fell. The oil slump is worrying investors because it hammers the profits of drillers and other oil companies that are big components in stock indexes. Investors also fear it may signal the global economic slowdown is deeper than expected.

The Dow Jones industrial average fell 99.99 points, or 0.6 percent, to 17,180.84. The Nasdaq composite lost 48.44 points, or 1 percent, to 4,605.16.

The ruble sank 13 percent to 65.83 to the dollar. The Russian currency started the year at 32.85 to the dollar. The drop in crude prices has hurt Russia since the country is a major oil exporter and depends heavily on oil for tax revenue.

Several commentators have noted that plunging oil prices could eventually help U.S. stocks because it pushes down gas prices, freeing up money for Americans to spend at stores.

Doug Cote, chief market strategist at Voya Investment Management, said investors have overreacted to the oil drop and that he expects stocks to rise.

"Every time the consumer goes to the gas pump, it feels fantastic," he said. For the middle class, "it's like getting a big tax cut."

Investors may get a better sense of just how much oil is helping consumers when the Federal Reserve concludes a two-day meeting on Wednesday. The central bank statement summarizing its conclusions from such policy setting meetings can move markets. Investors will be looking to see if the statement keeps two key words: "considerable time," a reference to how long the Fed plans to keep short-term interest rates near zero.

Those low rates are widely credited with helping stocks race higher in the nearly six-year bull market. Most economists think the Fed will wait until June to raise rates.

In economic news, U.S. manufacturing output in November surpassed its pre-recession peak as auto production ramped up. The Federal Reserve figures are an encouraging sign that America's factories are somewhat insulated from the global economic slowdown.

Among stocks making big moves:

”” Riverbed Technology, a maker of computer-network equipment, jumped $1.57, or 8.4 percent, to $20.31 after agreeing to a $3.6 billion sale to private-equity firm Thoma Bravo and a Canadian pension fund.

”” Pet supplies chain PetSmart rose $3.30, or 4.2 percent, to $80.97 after announcing Sunday that it had agreed to an $8.7 billion sale to a group of investors led by BC Partners.

”” Range Resources jumped $1.22 or 2.3 percent to $55.40. The energy company, which is heavily focused on natural gas, said production would increase due to better efficiency. The company also said it was trimming its capital spending plans, becoming the latest energy producer to do so.

Prices for U.S. government bonds fell. The yield on the 10-year Treasury note rose to 2.11 percent from 2.08 percent late Friday.

Benchmark U.S. crude fell $1.90, or 3.3 percent, to close at $55.91 a barrel on the New York Mercantile Exchange. Oil was as high as $107 a barrel in June.

In other energy trading, Brent crude, a benchmark for international oils used by many U.S. refineries, fell 79 cents to close at $61.06 in London. In New York, wholesale gasoline fell 2.1 cents to close at $1.576 a gallon, heating oil fell 1.4 cents to close at $2.002 a gallon and natural gas fell 7.6 cents to close at $3.719 per 1,000 cubic feet.

Precious and industrial metals futures fell. Gold declined $14.80 to $1,207.70 an ounce. Silver fell 49 cents to $16.56 an ounce and copper lost six cents to $2.88 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -111.97 points or ▼ -0.65% on Tuesday, 16 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,068.87 ▼ -111.97 ▼ -0.65%
Nasdaq____ 4,547.83 ▼ -57.32 ▼ -1.24%
S&P_500___ 1,972.74 ▼ -16.89 ▼ -0.85%
30_Yr_Bond____ 2.70 ▼ -0.04 ▼ -1.57%

NYSE Volume 4,926,879,000
Nasdaq Volume 2,136,248,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,331.83 ▲ 149.11 ▲ 2.41%
DAX_____ 9,563.89 ▲ 229.88 ▲ 2.46%
CAC_40__ 4,093.20 ▲ 87.82 ▲ 2.19%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,131.00 ▼ -33.60 ▼ -0.65%
Shanghai_Comp 3,021.52 ▲ 68.10 ▲ 2.31%
Taiwan_Weight 8,950.91 ▼ -34.72 ▼ -0.39%
Nikkei_225___ 16,755.32 ▼ -344.08 ▼ -2.01%
Hang_Seng.__ 22,670.50 ▼ -357.35 ▼ -1.55%
Strait_Times.__ 3,215.09 ▼ -79.05 ▼ -2.40%
NZX_50_Index_ 5,495.75 ▼ -3.32 ▼ -0.06%

http://finance.yahoo.com/news/early-rally-fizzles-leaving-us-211530781.html

An early rally fizzles, leaving US indexes lower

A late slide erases a rally in US stocks as trading remains volatile; oil price stabilizes
Associated Press
By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Sudden twists in the price of oil and currency trading turned the stock market into a roller-coaster ride on Tuesday.

Major indexes opened lower as falling oil prices and a plunge in the Russian ruble weighed on markets. Less than an hour later, crude oil recovered and oil and gas producers surged, driving the Dow Jones industrial average up as much as 246 points in the morning.

All of the gains were wiped out in the last hour.

The Standard & Poor's 500 index ended with a loss of 16.89 points, or 0.9 percent, to 1,972.74.

The Dow Jones industrial average lost 111.97 points, or 0.7 percent, to 17,068.87, while the Nasdaq composite dropped 57.32 points, or 1.2 percent, to 4,547.83.

The turbulence drove traders into the safety of U.S. government bonds, driving prices up and yields down. The yield on the 10-year Treasury note sank to 2.06 percent from 2.12 percent late Monday, a big move in the normally placid market.

The volatility in financial markets is likely to last until oil prices find a stable floor, said Marc Zabicki, senior market strategist at Ameriprise Financial.

"Lower oil prices certainly are a net positive for U.S. consumer spending," he said. "But there's a contagion risk out there that investors have an eye on. Namely, what does it do to shale gas players, and what does it mean to the banks that lend to them?"

Since reaching a record high of 2,075.37 on Dec. 5, the S&P 500 has fallen into a slump, losing ground on six of the past seven trading days. Energy companies have been hit hard, a result of the ongoing slump in crude. The S&P 500 has lost 4.6 percent so far this month. December, usually one of the market's best months, hasn't lived up to its reputation.

The price of U.S. oil settled higher on Tuesday for the first time in a week, rising 2 cents to close at $55.93 a barrel in New York. Oil has fallen by nearly half since June as demand wanes and supply surges.

Major markets in Europe surged. France's CAC 40 gained 2.2 percent, while Germany's DAX picked up 2.5 percent. Britain's FTSE 100 climbed 2.4 percent.

John Manley, chief equity strategist at Wells Fargo Fund Management, said that the trouble in developing countries highlighted the stability of the U.S. economy and its stock market.

"Yes, I do worry about Russia, yes I do worry about Venezuela, and you can't really have oil come down more than 45 percent without somebody having a problem, somewhere," Manley said. "But there's an old saying on Wall Street, 'In a dog-eat-dog market, get yourself a big dog,' and the U.S. is the ultimate big dog when it comes to this sort of thing."

Falling oil prices have also hammered markets in the Persian Gulf. Dubai's main market and Abu Dhabi's closed at their lowest points of the year on Tuesday with losses of 7 percent. Saudi Arabia's stock market fell 7.3 percent. Many are concerned that the drop in the price of oil will lead to less government spending and political unrest.

Back in the U.S., precious and industrial metals futures fell. Gold declined $13.40 to $1,194.30 an ounce, and silver fell 81 cents to $15.75 an ounce. Copper slipped two cents to $2.86 a pound.

Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.20 to close at $59.86 in London.

In other commodity trading on the New York Mercantile Exchange:

__ Wholesale gasoline dropped 3.5 cents to close at $1.541 a gallon.

__ Heating oil lost 4.2 cents to $1.960 a gallon.

__ Natural gas dropped 10 cents to $3.619 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 288 points or ▲ 1.69% on Wednesday, 17 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,356.87 ▲ 288.00 ▲ 1.69%
Nasdaq____ 4,644.31 ▲ 96.48 ▲ 2.12%
S&P_500___ 2,012.89 ▲ 40.15 ▲ 2.04%
30_Yr_Bond____ 2.75 ▲ 0.05 ▲ 1.85%

NYSE Volume 4,912,685,000
Nasdaq Volume 2,177,053,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,336.48 ▲ 4.65 ▲ 0.07%
DAX_____ 9,544.43 ▼ -19.46 ▼ -0.20%
CAC_40__ 4,111.91 ▲ 18.71 ▲ 0.46%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,140.60 ▲ 9.60 ▲ 0.19%
Shanghai_Comp 3,061.02 ▲ 39.50 ▲ 1.31%
Taiwan_Weight 8,828.36 ▼ -122.55 ▼ -1.37%
Nikkei_225___ 16,819.73 ▲ 64.41 ▲ 0.38%
Hang_Seng.__ 22,585.84 ▼ -84.66 ▼ -0.37%
Strait_Times.__ 3,227.23 ▲ 12.14 ▲ 0.38%
NZX_50_Index_ 5,496.58 ▲ 0.83 ▲ 0.02%

http://finance.yahoo.com/news/stocks-gain-most-more-fed-213024381.html

Stocks gain most in more than a year on Fed, oil

Stocks log biggest gain in more than a year on Fed's 'patient' pledge; energy sector jumps
Associated Press
By Steve Rothwell, AP Markets Writer

NEW YORK (AP) -- A pledge from the Federal Reserve to remain "patient" when deciding when to lift interest rates gave the stock market its biggest gain in more than a year.

Stocks rose from the open on Wednesday, led by gains for the energy sector, as oil prices showed signs of stabilizing after their big slump in recent months. The market's gains were extended after Fed policymakers released a statement following the end of its most recent policy meeting.

A near six-year bull run for the stock market has come against a background of exceptional stimulus from the Fed. At the start of the month investors had worried that signs of strengthening hiring would lead the Fed to bring forward the start of rate increases.

"The Fed is going to be our friend for a very long time," said Burt White, chief investment officer for LPL Financial. "Growth continues to be good and corporate America is healthy. If you mix all that together it translates to rising stock prices."

The Standard & Poor's 500 index rose 40.15 points, or 2.04 percent, to 2,012.89. That was the biggest gain for the index since October 2013

The Dow Jones industrial average rose 288 points, or 1.7 percent, to 17,356.87. The Nasdaq composite climbed 96.48 points, or 2.1 percent, to 4,644.31.

Stock investors have had a wild ride in the final quarter of the year. The market plunged at the start of October on concerns that global growth was slowing. Then it rebounded and surged to record levels at the start of December, before falling sharply last week as the price of oil collapsed, dragging down energy stocks.

On Wednesday, energy stocks led gains for the S&P 500 index as the price of oil steadied. Stocks in the sector jumped 4.2 percent, reducing their losses for the year to 13 percent.

The price of U.S. oil rose Wednesday after the Energy Department reported a decline in inventories, a turnaround from a Tuesday report of increased inventories from the American Petroleum Institute, an industry group.

Benchmark U.S. crude rose 54 cents to close at $56.47 a barrel in New York. Brent crude for February delivery, a benchmark for international oils used by many U.S. refineries, rose $1.17 to close at $61.18 a barrel in London. The January Brent contract expired Tuesday at $59.86.

Stocks that were linked to Cuba surged after President Barack Obama announced the re-establishment of diplomatic relations on Wednesday and declared an end to America's "outdated approach" to the communist island in a historic shift aimed at ending a half-century of Cold War enmity.

Copa Airlines, a Panama City-based carrier, and one of the most successful airlines in Latin America, jumped. Its stock rose $6.36, or 7.2 percent, to $94.48 on the news.

The Herzfeld Caribbean Basin Fund, a closed-end fund designed to take advantage of greater trade with Cuba, surged $1.97, or 28.9 percent, to $8.78.

Among individual names, FedEx was one of the biggest losers in early trading after in the shipping company reported earnings that fell short of Wall Street's expectations. The company said a jump in plane maintenance costs blunted gains the company reaped from managing costs, lowering its pension expense and growing its export package revenue. The company's stock dropped $6.48, or 3.7 percent, to $167.78.

Russia also remained in focus on concerns about the impact of the recent slide in the ruble. The currency has lost more than 50 percent of its value this year. After falling again early Wednesday, the ruble recovered and was 12 percent higher at 61.66 rubles to the dollar.

The currency recovered some of its losses Wednesday after Russian authorities indicated that they would sell foreign currency to relieve pressure on the ruble. The Russian currency has suffered in the wake of sliding oil prices and sanctions imposed over Russia's involvement in Ukraine's crisis.

In government bond trading, prices fell. The yield on the 10-year benchmark Treasury note, which rises when prices fall, climbed to 2.13 percent from 2.08 percent a day earlier.

The price of gold was little changed from Tuesday at $1,194.50 an ounce. Silver rose 18 cents to $15.93 an ounce and copper rose a penny to $2.87 a pound.

In other energy futures trading on the NYMEX:

”” Wholesale gasoline rose 2.5 cents to close at $1.566 a gallon.

”” Heating oil rose 4.9 cents to close at $2.009 a gallon.

”” Natural gas fell 8.3 cents to close at $3.702 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 421.28 points or ▲ 2.43% on Thursday, 18 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,778.15 ▲ 421.28 ▲ 2.43%
Nasdaq____ 4,748.40 ▲ 104.08 ▲ 2.24%
S&P_500___ 2,061.23 ▲ 48.34 ▲ 2.40%
30_Yr_Bond____ 2.81 ▲ 0.06 ▲ 2.18%

NYSE Volume 4,680,183,500
Nasdaq Volume 2,115,175,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,466.00 ▲ 129.52 ▲ 2.04%
DAX_____ 9,811.06 ▲ 266.63 ▲ 2.79%
CAC_40__ 4,249.49 ▲ 137.58 ▲ 3.35%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,189.70 ▲ 49.10 ▲ 0.96%
Shanghai_Comp 3,057.52 ▼ -3.50 ▼ -0.11%
Taiwan_Weight 8,878.63 ▲ 50.27 ▲ 0.57%
Nikkei_225___ 17,210.05 ▲ 390.32 ▲ 2.32%
Hang_Seng.__ 22,832.21 ▲ 246.37 ▲ 1.09%
Strait_Times.__ 3,247.02 ▲ 19.79 ▲ 0.61%
NZX_50_Index_ 5,518.48 ▲ 21.89 ▲ 0.40%

http://finance.yahoo.com/news/fed-rate-wording-boosts-asian-stock-markets-064743446.html

Dow industrials have their best day in three years
Associated Press
By STEVE ROTHWELL

NEW YORK (AP) ”” The Dow Jones industrial average had its biggest surge in three years Thursday, its second straight triple-digit gain following the Federal Reserve's reassurance that it was in no hurry to raise interest rates.

Bullish earnings from technology giant Oracle also drove the rally, which has helped stocks erase an early-December slump. Industrial and health care stocks also logged big gains. Even the energy sector advanced, despite another drop in the price of oil.

Fed Chair Janet Yellen said Wednesday that she foresaw no rate hike in the first quarter of 2015. The comments eased concerns that policymakers would start raising interest rates at a time when growth outside the U.S. appears to be flagging. They also helped investors look past worries about the impact of a slumping oil price and turmoil in Russia, where the currency has slumped.

"What we're seeing is a move back to fundamentals," said Karyn Cavanaugh, a senior market strategist at Voya Investment Management. "Earnings continue to be good...the U.S. economy is continuing to do well."

The Standard & Poor's 500 index rose 48.34 points, or 2.4 percent, to 2,061.23. The Dow Jones industrial average gained 421.28 points, also 2.4 percent, to 17,778.15. The Nasdaq Composite gained 104.08 points, or 2.2 percent, to 4,748.40.

Oracle was the biggest gainer in the S&P 500 index after it reported earnings late Wednesday that beat the expectations of Wall Street analysts. The company said its software and cloud revenue grew 5 percent. The stock rose $4.19, or 10.2 percent, to $45.35. The company's advance helped push up the tech sector 3 percent.

Investors are betting that as the economy improves and unemployment continues to fall, companies will start to invest in technology to boost productivity.

"Oracle has been out of favor for some time, and it's probably about time it gets back in favor," said Jerry Braakman, chief investment officer of First American Trust.

Stocks rose sharply Thursday even as oil resumed its slide.

The price of oil fell $2.36 to close at $54.11 a barrel, after rising as high as $58.71 in morning trading. Oil has plunged since June, when it peaked at $107 a barrel. Overproduction and weak demand are behind the fall in global oil prices. Brent crude, a benchmark for international oil, fell $1.91 to close at $59.27 in London.

A rapid descent in oil prices was the catalyst for big losses on the stock market a week earlier. While falling oil prices are good for consumers, putting more money in their pockets by cutting gas prices, they are bad for energy companies. Oil has fallen almost 50 percent from a peak of $107 a barrel in June.

U.S. government bond prices fell. The yield on the benchmark 10-year government Treasury note climbed to 2.21 percent from 2.14 percent a day earlier.

In currency trading, the euro fell to $1.2274 from $1.2329 the previous day. The dollar edged higher against the Japanese yen, climbing to 118.83 yen from 118.83 yen.

Prices for precious and industrial metals were little changed. Gold edged up 30 cents to $1,194.80 an ounce, silver was essentially unchanged at $15.93 an ounce and copper fell two cents to $2.85 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 3.9 cents to close at $1.527 a gallon.

”” Heating oil fell 7 cents to close at $1.939 a gallon.

”” Natural gas fell 6 cents to close at $3.642 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 26.65 points or ▲ 0.15% on Friday, 19 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,804.80 ▲ 26.65 ▲ 0.15%
Nasdaq____ 4,765.38 ▲ 16.98 ▲ 0.36%
S&P_500___ 2,070.65 ▲ 9.42 ▲ 0.46%
30_Yr_Bond____ 2.77 ▼ -0.04 ▼ -1.35%

NYSE Volume 6,316,354,000
Nasdaq Volume 3,242,621,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,545.27 ▲ 79.27 ▲ 1.23%
DAX_____ 9,786.96 ▼ -24.10 ▼ -0.25%
CAC_40__ 4,241.65 ▼ -7.84 ▼ -0.18%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,312.70 ▲ 123.00 ▲ 2.37%
Shanghai_Comp 3,108.60 ▲ 51.07 ▲ 1.67%
Taiwan_Weight 8,999.52 ▲ 120.89 ▲ 1.36%
Nikkei_225___ 17,621.40 ▲ 411.35 ▲ 2.39%
Hang_Seng.__ 23,116.63 ▲ 284.42 ▲ 1.25%
Strait_Times.__ 3,279.53 ▲ 35.88 ▲ 1.11%
NZX_50_Index_ 5,527.75 ▲ 9.27 ▲ 0.17%

http://finance.yahoo.com/news/asia-equity-rally-continues-fed-050707985.html

US stocks inch higher after a big two-day rally
Associated Press
By MATTHEW CRAFT

NEW YORK (AP) ”” Oil and gas companies led the stock market up Friday, helping the Standard & Poor's 500 index notch its second-best week this year.

With little news to give them direction, traders continued to push indexes higher. That extended a rally from Wednesday when the Federal Reserve said it was in no hurry to hike interest rates.

"What a very crazy week," said Sam Stovall, chief equity strategist at S&P Capital IQ.

Benchmark U.S. crude bounced up from recent lows, climbing $2.36 to settle at $56.52 a barrel in New York, as traders bet that a 6-month plunge in prices had gone too far. Chevron, Denbury Resources and other energy companies led nine of the 10 sectors in the S&P 500 to gains.

Nike's stock dropped $2.24, or 2 percent, to $94.84. The maker of athletic apparel posted results that beat Wall Street's forecasts late Thursday, but a drop in orders from Japan and developing markets in Asia overshadowed an otherwise strong quarter.

The S&P 500 gained 9.42 points, or 0.5 percent, to 2,070.65, bringing its weekly gain to 3.4 percent.

The Nasdaq composite picked up 16.98 points, or 0.4 percent, to 4,765.38, and the Dow Jones industrial average rose 26.65 points, or 0.1 percent, to 17,804.80.

At the start of the week, slumping oil prices and the state of the world economy were investors' main worries. A plunge in the Russian currency, the ruble, added to a sense of unease.

The turnaround came Wednesday, when Janet Yellen, the Federal Reserve chairwoman, said she saw no reason to hike interest rates in early 2015 and that the central bank would be "patient" in deciding when to raise rates from near zero. Her comments eased concerns that the Fed would start raising rates when growth in other major economies has looked weak. Traders celebrated, driving the S&P 500 up 4.5 percent over two days.

"It's just crazy volatility," said Jim Paulsen, chief investment strategist and economist at Wells Capital Management. Paulsen pointed to the magnitude of the market's turn. Before the Fed's statement came out on Wednesday, the S&P 500 was on course for a second week of losses. Two days later, it closed out one of its best weeks this year.

Stock markets in Asia climbed in the wake of the big gains in Europe and the U.S. on Thursday. Japan's Nikkei 225 jumped 2.4 percent, while South Korea's Kospi added 1.7 percent. Hong Kong's Hang Seng advanced 1.3 percent.

"The major equity markets are finishing the trading year on a positive note thanks to Janet Yellen's Christmas message," said Neil MacKinnon, global macros strategist at VTB Capital. He said that with no major economic reports coming out, the markets will soon "switch into holiday mode," as traders head off for vacations.

Back in the U.S., strong quarterly results from Red Hat, an open-source software company, drove its stock up 11 percent, the biggest gain in the S&P 500. Red Hat reported better earnings and sales than analysts had expected late Thursday. Its stock soared $6.54 to $68.04.

CarMax jumped 11 percent after the used-car dealership posted a 22 percent surge in its quarterly profits thanks to higher sales. The company's results beat analysts' estimates, sending its stock up $6.79 to $67.32.

U.S. government bond prices rose, nudging yields down. The yield on the benchmark 10-year Treasury note slipped to 2.16 percent.

In the commodity markets, gold edged up $1.20 to $1,196 an ounce, while silver added 10 cents to $16.03 an ounce. Copper rose 3 cents to $2.88 a pound.

Brent crude, a benchmark for international oils used by many U.S. refineries, rose $2.11 to close at $61.38 in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline rose 3.3 cents to close at $1.560 a gallon.

”” Heating oil rose 2.3 cents to close at $1.962 a gallon.

”” Natural gas fell 17.8 cents to close at $3.464 per 1,000 cubic feet. Forecasts for a mild winter, have pushed natural gas to its lowest price since November 2013.

1202

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 154.64 points or ▲ 0.87% on Monday, 22 December 2014
Symbol …........Last …......Change.......
Dow_Jones 17,959.44 ▲ 154.64 ▲ 0.87%
Nasdaq____ 4,781.42 ▲ 16.04 ▲ 0.34%
S&P_500___ 2,078.54 ▲ 7.89 ▲ 0.38%
30_Yr_Bond____ 2.75 ▼ -0.02 ▼ -0.87%

NYSE Volume 3,338,074,000
Nasdaq Volume 1,664,895,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,576.74 ▲ 31.47 ▲ 0.48%
DAX_____ 9,865.76 ▲ 78.80 ▲ 0.81%
CAC_40__ 4,254.43 ▲ 12.78 ▲ 0.30%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,414.10 ▲ 101.40 ▲ 1.91%
Shanghai_Comp 3,127.44 ▲ 18.85 ▲ 0.61%
Taiwan_Weight 9,095.00 ▲ 95.48 ▲ 1.06%
Nikkei_225___ 17,635.14 ▲ 13.74 ▲ 0.08%
Hang_Seng.__ 23,408.57 ▲ 291.94 ▲ 1.26%
Strait_Times.__ 3,330.96 ▲ 51.43 ▲ 1.57%
NZX_50_Index_ 5,541.74 ▲ 13.99 ▲ 0.25%

http://finance.yahoo.com/news/asian-markets-gain-oil-rebounds-071356976--finance.html

US stocks push to record highs, continuing a rally
Associated Press
By ALEX VEIGA

The Dow Jones industrial average and the Standard & Poor's 500 index closed at record highs Monday as the market delivered its fourth gain in as many trading days.

Pharmaceutical and technology stocks were among the big risers, while shares in energy companies fell sharply as the decline in oil prices deepened. Discouraging data on U.S. home sales failed to derail the "Santa" rally, what traders often call a pre-Christmas advance.

Trading volume was lighter than usual as many investors looked ahead to the Christmas holiday.

"We're getting a good Santa Claus rally," said Sam Stovall, U.S. equity strategist at S&P Capital IQ.

After a strong finish last week, investors remained mostly in a buying mood Monday. The major stock indexes drifted between small gains and losses in the morning, as traders digested the latest housing data.

The National Association of Realtors reported that sales of previously occupied homes fell 6.1 percent last month to a seasonally adjusted annual rate of 4.93 million. That's the slowest pace in six months.

By late morning, the major indexes were rising and holding on to gains that were modest, but good enough for a new set of record highs.

The Standard & Poor's 500 index gained 7.89 points, or 0.4 percent, to 2,078.54. The S&P's most recent record close was 2,075.37, set on Dec. 5.

The Dow Jones industrial average rose 154.64, or 0.9 percent, to 17,959.44. Its last record close was 17,958.79 on Dec. 5.

The Nasdaq composite picked up 16.04 points, or 0.3 percent, to 4,781.42.

The Dow and S&P 500 are both up for the month, while the Nasdaq is down. The three indexes are up for the year.

Market gains this year have been in line with that of prior years that were also preceded by strong growth, noted Stovall.

"On average, the S&P has gained 10 percent in the years following 20-plus-percent advances," he said. "And we're doing just that."

The market is coming off a big advance last week, which gave the S&P 500 its second-biggest weekly gain this year.

The latest rally kicked off last Wednesday, when Federal Reserve Chair Janet Yellen delivered remarks that eased investors' concerns that the central bank would start raising interest rates in response to slowing growth in other major economies.

Looking ahead, trading volume is expected to thin out the next couple of days leading into Christmas.

"A lot of traders and a lot of investors are going to take the whole week off and that might lead to some volatility," said Mike Serio, regional chief investment officer at Wells Fargo Private Bank.

Several economic barometers, including government reports on durable goods, personal income, consumer sentiment and the latest estimate of growth in the third quarter, are due out this week.

"If we see any of those numbers really off track, it might affect the market," Serio said.

Eight of the 10 sectors in the S&P 500 index rose Monday, led by technology stocks. Health care and energy stocks declined.

Pharmaceutical stocks were among those making big moves Monday.

Achillion Pharmaceuticals' shares gained 9 percent after the biotechnology company reported positive results from two studies focusing on a treatment regimen for hepatitis C patients. The stock rose $1.28 to $15.49. Meanwhile, Enanta Pharmaceuticals vaulted 10.1 percent after it received regulatory approval for a hepatitis C treatment. Enanta added $4.70 to $51.32.

Drugmaker Gilead Sciences tumbled 14.3 percent after pharmacy benefits manager Express Scripts said it will no longer cover two of Gilead's hepatitis C drugs as part of an effort to battle the high cost of treatment for the disease. Gilead slid $15.55 to $92.90.

News that Ocwen Financial's executive chairman will resign as part of a settlement that also provides $150 million to homeowners sent shares in the mortgage servicer down 26.9 percent. The stock shed $5.89 to $16.01.

The price of U.S. oil fell on expectations of a further buildup in supplies both in the U.S. and from OPEC producers. Benchmark U.S. crude fell $1.26 to close at $55.26 a barrel in New York. Oil has plunged since peaking at $107 a barrel in June.

Several oil production and exploration companies tumbled as the slide in oil prices deepened Monday.

Nabors Industries fell 53 cents, or 3.9 percent, to $13.10, while Chesapeake Energy slid $1.44, or 7.3 percent, to $18.42. Range Resources shed $2.80, or 4.7 percent, to $57.07. Southwestern Energy dropped $1.69, or 5.5 percent, to $29.31.

In other energy futures trading, wholesale gasoline fell 2.5 cents to close at $1.535 a gallon, while heating oil fell 1.1 cents to close at $1.951 a gallon.

Natural gas fell 32 cents to close at $3.144 per 1,000 cubic feet. Natural gas has fallen 15 percent over the past three trading sessions to its lowest level since January 2013 on forecasts for milder winter weather.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.16 percent.

Metals prices closed lower. Gold fell $16.20 to $1,179.80 an ounce. Silver fell 34 cents to $15.69 an ounce and copper lost a penny to $2.87 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 64.73 points or ▲ 0.36% on Tuesday, 23 December 2014
Symbol …........Last …......Change.......
Dow_Jones 18,024.17 ▲ 64.73 ▲ 0.36%
Nasdaq____ 4,765.42 ▼ -16.00 ▼ -0.33%
S&P_500___ 2,082.17 ▲ 3.63 ▲ 0.17%
30_Yr_Bond____ 2.85 ▲ 0.10 ▲ 3.71%

NYSE Volume 3,017,202,500
Nasdaq Volume 1,560,083,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,598.18 ▲ 21.44 ▲ 0.33%
DAX_____ 9,922.11 ▲ 56.35 ▲ 0.57%
CAC_40__ 4,314.97 ▲ 60.54 ▲ 1.42%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,356.40 ▼ -57.70 ▼ -1.07%
Shanghai_Comp 3,032.61 ▼ -94.83 ▼ -3.03%
Taiwan_Weight 9,097.71 ▲ 2.71 ▲ 0.03%
Nikkei_225___ 17,635.14 ▲ 13.74 ▲ 0.08%
Hang_Seng.__ 23,333.69 ▼ -74.88 ▼ -0.32%
Strait_Times.__ 3,332.51 ▲ 1.55 ▲ 0.05%
NZX_50_Index_ 5,552.10 ▲ 10.36 ▲ 0.19%

http://finance.yahoo.com/news/dow-tops-18-000-points-213340481.html

Dow tops 18,000 points as US economy surges ahead

Dow tops 18,000 for the first time; Traders are encouraged by surging US economic growth
Associated Press
By Alex Veiga, AP Business Writer

In a year full of market milestones, Wall Street crushed a couple more Friday, lifting the Dow Jones industrial average past the 18,000-point mark for the first time and delivering the Standard & Poor's 500 index its second record-high close in two days.

Investors welcomed the latest encouraging news on the economy as the government said the U.S. grew at the fastest pace in more than a decade in the third quarter. The economic report card raised expectations for greater demand for fuel, driving oil prices higher and giving some respite to energy stocks, which have been hammered in concert with the slide in oil prices this year.

The rally gave the Dow and the S&P 500 their fifth straight gain. The indexes have recovered the last of the ground they lost in an early-December slump. It also marked the 51st all-time high for the S&P 500 and the 36th for the Dow this year, according to S&P Dow Jones Indices.

"This is going to end up being a bit better of a year for stocks and bonds than most people thought coming in," said Bob Doll, chief equity strategist at Nuveen Asset Management. "The economy caught some steam and it's able to stand up with its own two feet."

Despite weak growth overseas, geopolitical troubles and other concerns, investors have repeatedly bet on the U.S. economy and corporate earnings growth this year, pushing stock prices higher.

The market has been going steadily higher for the last two weeks after hitting a recent low of 17,069 on Dec. 16 as traders worried about plunging oil prices and a sharp drop in Russia's currency. Investors have been encouraged by signs of strength in the U.S. economy and reassurances that the Federal Reserve won't raise interest rates soon. Those trends bode well for the bull market run, which is on track to mark its sixth year in March.

And yet, the indexes' new heights have made the market more expensive. At their current price, investors are paying $17.60 for every $1 in earnings for companies in the S&P 500. That's above the long-term average price-to-earnings ratio of $16.

Even so, stocks are not overvalued, said Cameron Hinds, regional chief investment officer at Wells Fargo Private Bank.

"You have to understand that U.S. economic output is at an all-time high and corporate profits are at an all-time high," Hinds said. "Bull markets typically don't die purely of old age, they tend to die of recessions and overvaluation and perhaps policy mistakes, and we don't see any of those on the horizon."

All told, the Dow gained 64.73 points to 18,024.17 That's up 0.4 percent from its previous record close on Monday. The latest close is the Dow's second 1,000-point milestone this year after closing above 17,000 for the first time in July.

The S&P 500 rose 3.63 points to 2,082.17. That's a gain of 0.2 percent from its own all-time recorded a day earlier.

The Nasdaq composite fell 16 points, or 0.3 percent, to 4,765.42.

All told, the S&P 500 is up 12.7 percent this year, while the Dow has gained 8.7 percent. The Dow, which has just 30 stocks, has been held back by a slump in Chevron as the price of oil collapsed and by a 14 percent drop in IBM.

The market started off Tuesday's record run early in the day, with the Dow and the S&P opening slightly higher. Shortly after, the Dow topped 18,000 points for the first time, while the S&P extended beyond the all-time high from the day before.

The Nasdaq trailed the other two indexes, weighed down by a broad slide in biotech stocks.

Express Scripts, the nation's largest pharmacy benefits manager, is putting pressure on drugmakers like Gilead Sciences and others to lower prices. Gilead shed $3.45, or 3.7 percent, to $89.45. Express Scripts rose $3.55, or 4.3 percent, to $85.88.

Investors were monitoring a mixed bag of economic reports Tuesday.

The Commerce Department reported that the economy grew at a 5 percent annual rate in the July-September period, powered by stronger consumer spending and business investment. That's the fastest quarterly growth since the summer of 2003.

Consumer spending grew at the fastest pace in three months in November, while income posted the best gain in five months. Factory orders for long-lasting manufactured goods declined last month. And sales of new homes slid 1.6 percent in November to a seasonally adjusted annual rate of 438,000, the second consecutive monthly decline.

Oil prices stabilized after a recent rout. Benchmark U.S. crude rose $1.86 to close at $57.12 a barrel. The price has fallen by about half from a peak of $107 a barrel in June due to abundant supplies and waning global demand for energy.

Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.58 to close at $61.69 in London.

In other futures trading, wholesale gasoline rose 3.5 cents to close at $1.570 a gallon, while heating oil added 4 cents to close at $1.991 a gallon. Natural gas rose 2.7 cents to close at $3.171 per 1,000 cubic feet.

Precious and industrial metals futures closed mixed.

Gold slipped $1.80 to $1,178 an ounce. Silver edged up eight cents to $15.77 an ounce and copper slipped less than a penny to $2.87 a pound.

The rally in stocks dampened demand for bonds, pushing U.S. government bond prices lower. The yield on the 10-year Treasury note rose to 2.26 percent.

On Wednesday, U.S. and European markets close early ahead of the Christmas holiday.