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DJI log chart peaks are lined up perfectly.
Fed ending 7 year easing cycle.
Conclusion too obvious?
Fed ending 7 year easing cycle.
Conclusion too obvious?
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
- Reactions
- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed LOWER ▼ -3.41 points or ▼ -0.02% on Wednesday, 15 July 2015
Symbol …........Last …......Change.......
Dow_Jones 18,050.17 ▼ -3.41 ▼ -0.02%
Nasdaq____ 5,098.94 ▼ -5.95 ▼ -0.12%
S&P_500___ 2,107.40 ▼ -1.55 ▼ -0.07%
30_Yr_Bond____ 3.13 ▼ -0.06 ▼ -1.76%
NYSE Volume 3,261,959,500
Nasdaq Volume 1,692,277,750
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,753.75 ▲ 0.00 ▲ 0.00%
DAX_____ 11,539.66 ▲ 22.76 ▲ 0.20%
CAC_40__ 5,047.24 ▲ 14.77 ▲ 0.29%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,619.00 ▲ 57.10 ▲ 1.03%
Shanghai_Comp 3,805.70 ▼ -118.78 ▼ -3.03%
Taiwan_Weight 9,054.20 ▲ 12.44 ▲ 0.14%
Nikkei_225___ 20,463.33 ▲ 78.00 ▲ 0.38%
Hang_Seng.__ 25,055.76 ▼ -65.15 ▼ -0.26%
Strait_Times.__ 3,341.01 ▲ 24.51 ▲ 0.74%
NZX_50_Index_ 5,805.95 ▲ 55.07 ▲ 0.96%
http://finance.yahoo.com/news/energy-stocks-lead-us-market-213033842.html
Energy stocks lead US market lower; investor wait on Greece
Stocks slip as weaker oil pushes down shares of energy companies; investors await Greek vote
Associated Press By Steve Rothwell, AP Markets Writer
NEW YORK (AP) -- The U.S. stock market edged lower Wednesday, ending a four-day rally, as a drop in energy shares and jitters over Greece outweighed encouraging earnings reports from banks.
Energy stocks slumped along with the price of oil after a report showed that a drop in U.S. supplies last week was less than expected.
The market's pause follows strong gains. Stocks have surged in the past week as a slump in China's stock market abated and Greece reached a deal with its creditors for more loans to avoid bankruptcy and a possible exit from the euro.
Greece's deal with its creditors must still be approved by the country's lawmakers. As investors waited for a vote in the nation's parliament, protesters clashed with police in the streets of Athens. The protesters want an end to the harsh austerity measures demanded by Greece's creditors in exchange for more loans.
"You come in some days and it looks like it's all clear and that Greece has been resolved, and the next day it hasn't," said Michael Scanlon, portfolio manager with John Hancock Asset Management.
The Standard & Poor's 500 index edged down 1.55 points, or less than 0.1 percent, to 2,107.40. The Dow Jones industrial average slipped 3.41 points, or less than 0.1 percent, to 18,050.17. The Nasdaq composite fell 5.95 points, or 0.1 percent, to 5,098.94.
The U.S. stock market started the day higher after encouraging second-quarter results from banks, including Bank of America.
The bank said its profit more than doubled thanks to lower legal bills. It also said an increase in deposits, lower expenses and an improving balance sheet helped offset a decline in revenue.
The bank's stock rose 55 cents, or 3.2 percent, to $17.68.
Investors were also following Federal Reserve Chair Janet Yellen's comments to the House Financial Services Committee.
Yellen told Congress she sees encouraging signs that the economy is reviving after a harsh winter. If the improvements continue, she said, policymakers will likely start raising interest rates later this year. The Fed has kept its benchmark rate near zero since December 2008, pushing up bond and stock prices.
Yellen was flagging the possibility of higher rates so as not to surprise investors when the Fed does eventually lift them, said Quincy Krosby, a market strategist for Prudential Financial.
"That's the last thing she wants to do," said Krosby. "That's why we have to pay attention when she says that (a rate increase) is on the table."
Among individual stocks, Macy's was the biggest gainer in the S&P 500. The stock jumped on reports that activist investor firm Starboard Value thinks the department store chain could boost its value by spinning off its real estate holdings. Macy's climbed $5.28, or 7.9 percent, to $72.01.
In energy trading, benchmark U.S. crude fell $1.63, or 3 percent, to close at $51.41 a barrel, as a report on supplies showed a smaller-than-expected decline last week. The price of oil has fallen 13 percent this month.
Oil has come under further pressure after Iran reached a nuclear deal with world powers. That paves the way for sanctions on the country to be lifted, allowing Iran to export oil and add to a glut in global supply.
In government bond trading, prices rose. The yield on the 10-year Treasury note fell to 2.36 percent from 2.40 percent on Tuesday.
The dollar rose to 123.78 yen from 123.35 yen. The euro was down slightly to $1.0950 from $1.1010.
In metals trading, silver fell 27 cents to $15.03 an ounce. Gold dropped $6.10 to $1,147.40 an ounce. Copper declined 1.4 cents to $2.53 a pound.
In other futures trading on the New York Mercantile Exchange:
”” Wholesale gasoline fell 7 cents to close at $1.86 a gallon.
”” Heating oil slipped 5.6 cents to close at $1.67 a gallon.
”” Natural gas rose 8 cents to close at $2.92 per 1,000 cubic feet.
The NYSE DOW closed LOWER ▼ -3.41 points or ▼ -0.02% on Wednesday, 15 July 2015
Symbol …........Last …......Change.......
Dow_Jones 18,050.17 ▼ -3.41 ▼ -0.02%
Nasdaq____ 5,098.94 ▼ -5.95 ▼ -0.12%
S&P_500___ 2,107.40 ▼ -1.55 ▼ -0.07%
30_Yr_Bond____ 3.13 ▼ -0.06 ▼ -1.76%
NYSE Volume 3,261,959,500
Nasdaq Volume 1,692,277,750
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,753.75 ▲ 0.00 ▲ 0.00%
DAX_____ 11,539.66 ▲ 22.76 ▲ 0.20%
CAC_40__ 5,047.24 ▲ 14.77 ▲ 0.29%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,619.00 ▲ 57.10 ▲ 1.03%
Shanghai_Comp 3,805.70 ▼ -118.78 ▼ -3.03%
Taiwan_Weight 9,054.20 ▲ 12.44 ▲ 0.14%
Nikkei_225___ 20,463.33 ▲ 78.00 ▲ 0.38%
Hang_Seng.__ 25,055.76 ▼ -65.15 ▼ -0.26%
Strait_Times.__ 3,341.01 ▲ 24.51 ▲ 0.74%
NZX_50_Index_ 5,805.95 ▲ 55.07 ▲ 0.96%
http://finance.yahoo.com/news/energy-stocks-lead-us-market-213033842.html
Energy stocks lead US market lower; investor wait on Greece
Stocks slip as weaker oil pushes down shares of energy companies; investors await Greek vote
Associated Press By Steve Rothwell, AP Markets Writer
NEW YORK (AP) -- The U.S. stock market edged lower Wednesday, ending a four-day rally, as a drop in energy shares and jitters over Greece outweighed encouraging earnings reports from banks.
Energy stocks slumped along with the price of oil after a report showed that a drop in U.S. supplies last week was less than expected.
The market's pause follows strong gains. Stocks have surged in the past week as a slump in China's stock market abated and Greece reached a deal with its creditors for more loans to avoid bankruptcy and a possible exit from the euro.
Greece's deal with its creditors must still be approved by the country's lawmakers. As investors waited for a vote in the nation's parliament, protesters clashed with police in the streets of Athens. The protesters want an end to the harsh austerity measures demanded by Greece's creditors in exchange for more loans.
"You come in some days and it looks like it's all clear and that Greece has been resolved, and the next day it hasn't," said Michael Scanlon, portfolio manager with John Hancock Asset Management.
The Standard & Poor's 500 index edged down 1.55 points, or less than 0.1 percent, to 2,107.40. The Dow Jones industrial average slipped 3.41 points, or less than 0.1 percent, to 18,050.17. The Nasdaq composite fell 5.95 points, or 0.1 percent, to 5,098.94.
The U.S. stock market started the day higher after encouraging second-quarter results from banks, including Bank of America.
The bank said its profit more than doubled thanks to lower legal bills. It also said an increase in deposits, lower expenses and an improving balance sheet helped offset a decline in revenue.
The bank's stock rose 55 cents, or 3.2 percent, to $17.68.
Investors were also following Federal Reserve Chair Janet Yellen's comments to the House Financial Services Committee.
Yellen told Congress she sees encouraging signs that the economy is reviving after a harsh winter. If the improvements continue, she said, policymakers will likely start raising interest rates later this year. The Fed has kept its benchmark rate near zero since December 2008, pushing up bond and stock prices.
Yellen was flagging the possibility of higher rates so as not to surprise investors when the Fed does eventually lift them, said Quincy Krosby, a market strategist for Prudential Financial.
"That's the last thing she wants to do," said Krosby. "That's why we have to pay attention when she says that (a rate increase) is on the table."
Among individual stocks, Macy's was the biggest gainer in the S&P 500. The stock jumped on reports that activist investor firm Starboard Value thinks the department store chain could boost its value by spinning off its real estate holdings. Macy's climbed $5.28, or 7.9 percent, to $72.01.
In energy trading, benchmark U.S. crude fell $1.63, or 3 percent, to close at $51.41 a barrel, as a report on supplies showed a smaller-than-expected decline last week. The price of oil has fallen 13 percent this month.
Oil has come under further pressure after Iran reached a nuclear deal with world powers. That paves the way for sanctions on the country to be lifted, allowing Iran to export oil and add to a glut in global supply.
In government bond trading, prices rose. The yield on the 10-year Treasury note fell to 2.36 percent from 2.40 percent on Tuesday.
The dollar rose to 123.78 yen from 123.35 yen. The euro was down slightly to $1.0950 from $1.1010.
In metals trading, silver fell 27 cents to $15.03 an ounce. Gold dropped $6.10 to $1,147.40 an ounce. Copper declined 1.4 cents to $2.53 a pound.
In other futures trading on the New York Mercantile Exchange:
”” Wholesale gasoline fell 7 cents to close at $1.86 a gallon.
”” Heating oil slipped 5.6 cents to close at $1.67 a gallon.
”” Natural gas rose 8 cents to close at $2.92 per 1,000 cubic feet.
Attachments
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
- Reactions
- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed HIGHER ▲ 70.08 points or ▲ 0.39% on Thursday, 16 July 2015
Symbol …........Last …......Change.......
Dow_Jones 18,120.25 ▲ 70.08 ▲ 0.39%
Nasdaq____ 5,163.18 ▲ 64.24 ▲ 1.26%
S&P_500___ 2,124.29 ▲ 16.89 ▲ 0.80%
30_Yr_Bond____ 3.12 ▼ -0.02 ▼ -0.61%
NYSE Volume 3,229,916,000
Nasdaq Volume 1,798,212,120
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,796.45 ▲ 42.70 ▲ 0.63%
DAX_____ 11,716.76 ▲ 177.10 ▲ 1.53%
CAC_40__ 5,121.50 ▲ 74.26 ▲ 1.47%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,649.80 ▲ 30.80 ▲ 0.55%
Shanghai_Comp 3,823.18 ▲ 17.47 ▲ 0.46%
Taiwan_Weight 9,042.21 ▼ -11.99 ▼ -0.13%
Nikkei_225___ 20,600.12 ▲ 136.79 ▲ 0.67%
Hang_Seng.__ 25,162.78 ▲ 107.02 ▲ 0.43%
Strait_Times.__ 3,350.23 ▲ 11.37 ▲ 0.34%
NZX_50_Index_ 5,824.15 ▲ 18.20 ▲ 0.31%
http://finance.yahoo.com/news/us-stocks-end-higher-citi-200825434.html
US stocks end higher as Citi, others report strong earnings
Stocks close higher after eBay and others report earnings gains; Greek banks get cash
Associated Press By Bernard Condon, AP Business Writer
NEW YORK (AP) -- A new financial lifeline for Greece and strong corporate earnings on Thursday helped push U.S. stocks higher.
Stocks rose from the start, following a jump in major European indexes, as strong second-quarter results from Netflix, eBay, Citigroup and other companies fed the buying. By the end of the day, nine of 10 industry sectors of the Standard and Poor's 500 index posted gains.
Investors have been worried about a possible Greek financial collapse, plunging Chinese stocks and Puerto Rico's struggles to pay its debt. But investors put those concerns aside as upbeat second-quarter company results suggested that earnings may turn out better than expected. A key gauge of anxiety among investors, the VIX, was down nearly 40 percent on Thursday from a week ago.
"Some of the red flags in the market have come down, and now the market can look to earnings," said Kevin Dorwin, managing principal of Bingham, Osborn & Scarborough, a San Francisco-based investment firm.
The S&P 500 gained 16.89 points, or 0.8 percent, to 2,124.29. The Dow Jones industrial average climbed 70.08 points, or 0.4 percent, to 18,120.25. The Nasdaq composite climbed 64.24 points, or 1.3 percent, to 5,163.18.
Stocks in Europe got a boost from news that Greek lawmakers approved tax hikes, cuts to pensions and other measures demanded by its creditors. That was followed by an announcement from the European Union that it would provide a short-term loan to Greece to help it cover its debts through mid-August. And the European Central Bank said it would raise the amount of emergency liquidity available to the country's banks.
Germany's DAX and France's CAC-40 each climbed 1.5 percent.
Among U.S. companies posting earnings, Netflix was a big winner. Its stock soared 18 percent, the biggest gain in the S&P 500. Investors were reacting to an announcement late Wednesday that the company had added far more streaming-video subscribers than projected in the second quarter, 3.3 million. The shares climbed $17.68 to $115.81.
Since the start of earnings season a week ago, 38 companies in the S&P 500 have reported results and most have beaten expectations. That has raised hope that earnings won't be as bad as many have feared. S&P Capital IQ, a financial data provider, is predicting that earnings at companies in the S&P 500 will fall 3.8 percent from a year earlier.
Earnings expectations may be low, but "if today is any indication, three-quarters of the companies will beat," said Jack Ablin, chief investment officer of BMO Private Bank.
Citigroup climbed $2.13, or 3.8 percent, to $58.59 after announcing profits had rebounded in the second quarter from a year earlier, when the bank had recorded a huge legal settlement for its role in the housing bubble and financial crisis.
Companies reporting Friday include General Electric, Honeywell and Kansas City Southern.
Among other stocks making moves:
”” EBay rose $2.15, or 3.4 percent, to $65.59 after announcing earnings that topped Wall Street expectations. The company also said it sold a business that helps develop online sites for retailers as it prepares to spin off PayPal.
”” Goldman Sachs fell $1.78, or 0.8 percent, to $211.18 after reporting second-quarter profit fell by half on higher provisions for mortgage-related litigation and regulatory matters.
”” Google jumped $62.17, or 10 percent, to $663.50 in after-market trading on better-than-expected earnings and revenue gains.
In China, the Shanghai Composite Index rose after two days of big drops, climbing 0.5 percent.
Benchmark U.S. crude lost 50 cents to close at $50.91 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 46 cents to close at $57.51 a barrel in London.
In other futures trading on the New York Mercantile Exchange:
”” Wholesale gasoline rose 3.8 cents to close at $1.897 a gallon.
”” Heating oil fell 0.3 cent to close at $1.666 a gallon.
”” Natural gas declined 6.4 cents to close at $2.854 per 1,000 cubic feet.
U.S government bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.35 percent.
Precious and industrial metals futures closed mostly lower. Gold lost $3.50 to $1,143.90 an ounce, silver fell 6 cents to $14.96 an ounce and copper was little changed at $2.53 a pound.
The NYSE DOW closed HIGHER ▲ 70.08 points or ▲ 0.39% on Thursday, 16 July 2015
Symbol …........Last …......Change.......
Dow_Jones 18,120.25 ▲ 70.08 ▲ 0.39%
Nasdaq____ 5,163.18 ▲ 64.24 ▲ 1.26%
S&P_500___ 2,124.29 ▲ 16.89 ▲ 0.80%
30_Yr_Bond____ 3.12 ▼ -0.02 ▼ -0.61%
NYSE Volume 3,229,916,000
Nasdaq Volume 1,798,212,120
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,796.45 ▲ 42.70 ▲ 0.63%
DAX_____ 11,716.76 ▲ 177.10 ▲ 1.53%
CAC_40__ 5,121.50 ▲ 74.26 ▲ 1.47%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,649.80 ▲ 30.80 ▲ 0.55%
Shanghai_Comp 3,823.18 ▲ 17.47 ▲ 0.46%
Taiwan_Weight 9,042.21 ▼ -11.99 ▼ -0.13%
Nikkei_225___ 20,600.12 ▲ 136.79 ▲ 0.67%
Hang_Seng.__ 25,162.78 ▲ 107.02 ▲ 0.43%
Strait_Times.__ 3,350.23 ▲ 11.37 ▲ 0.34%
NZX_50_Index_ 5,824.15 ▲ 18.20 ▲ 0.31%
http://finance.yahoo.com/news/us-stocks-end-higher-citi-200825434.html
US stocks end higher as Citi, others report strong earnings
Stocks close higher after eBay and others report earnings gains; Greek banks get cash
Associated Press By Bernard Condon, AP Business Writer
NEW YORK (AP) -- A new financial lifeline for Greece and strong corporate earnings on Thursday helped push U.S. stocks higher.
Stocks rose from the start, following a jump in major European indexes, as strong second-quarter results from Netflix, eBay, Citigroup and other companies fed the buying. By the end of the day, nine of 10 industry sectors of the Standard and Poor's 500 index posted gains.
Investors have been worried about a possible Greek financial collapse, plunging Chinese stocks and Puerto Rico's struggles to pay its debt. But investors put those concerns aside as upbeat second-quarter company results suggested that earnings may turn out better than expected. A key gauge of anxiety among investors, the VIX, was down nearly 40 percent on Thursday from a week ago.
"Some of the red flags in the market have come down, and now the market can look to earnings," said Kevin Dorwin, managing principal of Bingham, Osborn & Scarborough, a San Francisco-based investment firm.
The S&P 500 gained 16.89 points, or 0.8 percent, to 2,124.29. The Dow Jones industrial average climbed 70.08 points, or 0.4 percent, to 18,120.25. The Nasdaq composite climbed 64.24 points, or 1.3 percent, to 5,163.18.
Stocks in Europe got a boost from news that Greek lawmakers approved tax hikes, cuts to pensions and other measures demanded by its creditors. That was followed by an announcement from the European Union that it would provide a short-term loan to Greece to help it cover its debts through mid-August. And the European Central Bank said it would raise the amount of emergency liquidity available to the country's banks.
Germany's DAX and France's CAC-40 each climbed 1.5 percent.
Among U.S. companies posting earnings, Netflix was a big winner. Its stock soared 18 percent, the biggest gain in the S&P 500. Investors were reacting to an announcement late Wednesday that the company had added far more streaming-video subscribers than projected in the second quarter, 3.3 million. The shares climbed $17.68 to $115.81.
Since the start of earnings season a week ago, 38 companies in the S&P 500 have reported results and most have beaten expectations. That has raised hope that earnings won't be as bad as many have feared. S&P Capital IQ, a financial data provider, is predicting that earnings at companies in the S&P 500 will fall 3.8 percent from a year earlier.
Earnings expectations may be low, but "if today is any indication, three-quarters of the companies will beat," said Jack Ablin, chief investment officer of BMO Private Bank.
Citigroup climbed $2.13, or 3.8 percent, to $58.59 after announcing profits had rebounded in the second quarter from a year earlier, when the bank had recorded a huge legal settlement for its role in the housing bubble and financial crisis.
Companies reporting Friday include General Electric, Honeywell and Kansas City Southern.
Among other stocks making moves:
”” EBay rose $2.15, or 3.4 percent, to $65.59 after announcing earnings that topped Wall Street expectations. The company also said it sold a business that helps develop online sites for retailers as it prepares to spin off PayPal.
”” Goldman Sachs fell $1.78, or 0.8 percent, to $211.18 after reporting second-quarter profit fell by half on higher provisions for mortgage-related litigation and regulatory matters.
”” Google jumped $62.17, or 10 percent, to $663.50 in after-market trading on better-than-expected earnings and revenue gains.
In China, the Shanghai Composite Index rose after two days of big drops, climbing 0.5 percent.
Benchmark U.S. crude lost 50 cents to close at $50.91 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 46 cents to close at $57.51 a barrel in London.
In other futures trading on the New York Mercantile Exchange:
”” Wholesale gasoline rose 3.8 cents to close at $1.897 a gallon.
”” Heating oil fell 0.3 cent to close at $1.666 a gallon.
”” Natural gas declined 6.4 cents to close at $2.854 per 1,000 cubic feet.
U.S government bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.35 percent.
Precious and industrial metals futures closed mostly lower. Gold lost $3.50 to $1,143.90 an ounce, silver fell 6 cents to $14.96 an ounce and copper was little changed at $2.53 a pound.
Attachments
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
- Reactions
- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed LOWER ▼ -33.8 points or ▼ -0.19% on Friday, 17 July 2015
Symbol …........Last …......Change.......
Dow_Jones 18,086.45 ▼ -33.80 ▼ -0.19%
Nasdaq____ 5,210.14 ▲ 46.96 ▲ 0.91%
S&P_500___ 2,126.64 ▲ 2.35 ▲ 0.11%
30_Yr_Bond____ 3.08 ▼ -0.03 ▼ -1.03%
NYSE Volume 3,375,896,750
Nasdaq Volume 1,856,307,500
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,775.08 ▼ -21.37 ▼ -0.31%
DAX_____ 11,673.42 ▼ -43.34 ▼ -0.37%
CAC_40__ 5,124.39 ▲ 2.89 ▲ 0.06%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,652.50 ▲ 2.70 ▲ 0.05%
Shanghai_Comp 3,957.35 ▲ 134.18 ▲ 3.51%
Taiwan_Weight 9,045.98 ▲ 3.77 ▲ 0.04%
Nikkei_225___ 20,650.92 ▲ 50.80 ▲ 0.25%
Hang_Seng.__ 25,415.27 ▲ 252.49 ▲ 1.00%
Strait_Times.__ 3,353.45 ▲ 14.59 ▲ 0.44%
NZX_50_Index_ 5,853.76 ▲ 29.61 ▲ 0.51%
http://finance.yahoo.com/news/nasdaq-logs-best-week-nearly-201730212.html
Nasdaq logs best week in nearly nine months as Google jumps
Nasdaq logs best week in nearly nine months as Google surges on strong earnings
Associated Press By Matthew Craft, AP Business Writer
NEW YORK (AP) -- A strong week fizzled to a close on Friday as the stock market eked out a small gain. But a few companies made big moves. Google surged after reporting strong results, pushing the Nasdaq to another record high.
It was a quiet end to an eventful week. Markets around the world rallied on Monday after Greece and its creditors agreed to a broad framework for a new loan program. Stronger quarterly earnings reports from a range of big U.S. companies, including Citigroup and JPMorgan Chase, added more encouragement.
"It appears the sky is clearing," said Linda Duessel, senior equity strategist at Federated Investors.
Before this week, concerns about China's plunging stock market and the prospect of Greece leaving the euro "had been bogging us down," she said.
The Standard & Poor's 500 index edged up 2.35 points, or 0.1 percent, to close at 2,126.64. The broad-market measure finished the week with a gain of 2.4 percent, its best performance in four months.
The Nasdaq rose 46.96 points, or 0.9 percent, to 5,210.14, closing out its best week in nine months. The Dow Jones industrial average lost 33.80 points, or 0.2 percent, at 18,086.45.
Google jumped after reporting profits and sales that topped analysts' forecasts late Thursday. The results ended six consecutive quarters in which Google's earnings fell short of analysts' targets. Google rose $97.84, or 16 percent, to $699.62.
Earnings reports out this week have looked better than Wall Street expected. Analysts forecast that second-quarter earnings will shrink 3.3 percent compared with the prior year, according to S&P Capital IQ. Last week, the prediction was for a drop of 4.4 percent.
Greece's deal cleared another hurdle on Friday when German lawmakers overwhelmingly backed it. The European Union also said it would get Athens enough money for it to keep making its debt payments.
Europe's major markets finished mixed after rallying earlier this week. Germany's DAX lost 0.4 percent while France's CAC edged up 0.1 percent. Britain's FTSE 100 slipped 0.3 percent.
Back in the U.S., Comerica reported a drop in quarterly earnings, partially a result of the Dallas-based bank setting aside more money to cover losses on loans to oil companies. The news drove Comerica's stock down $3.19, or 6.3 percent, to $47.28.
Bond prices barely moved, leaving the 10-year Treasury note at 2.35 percent. The dollar dropped to 124.06 yen while rising to $1.0838 for every euro.
In commodities trading, precious and industrial metals sank. Gold fell $12 to settle at $1,131.90 an ounce, while silver sank 15 cents to $14.92 an ounce. Copper fell 3 cents to $2.50 a pound.
Benchmark U.S. crude oil fell two cents to close at $50.89 a barrel in New York. Brent crude, the international benchmark, rose 18 cents to close at $57.10 a barrel in London.
In other trading on the New York Mercantile Exchange:
— Wholesale gasoline rose 3.2 cents to close at $1.929 a gallon.
— Heating oil fell 0.2 cent to close at $1.664 a gallon.
— Natural gas increased 1.6 cents to close at $2.870 per 1,000 cubic feet.
9551
The NYSE DOW closed LOWER ▼ -33.8 points or ▼ -0.19% on Friday, 17 July 2015
Symbol …........Last …......Change.......
Dow_Jones 18,086.45 ▼ -33.80 ▼ -0.19%
Nasdaq____ 5,210.14 ▲ 46.96 ▲ 0.91%
S&P_500___ 2,126.64 ▲ 2.35 ▲ 0.11%
30_Yr_Bond____ 3.08 ▼ -0.03 ▼ -1.03%
NYSE Volume 3,375,896,750
Nasdaq Volume 1,856,307,500
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,775.08 ▼ -21.37 ▼ -0.31%
DAX_____ 11,673.42 ▼ -43.34 ▼ -0.37%
CAC_40__ 5,124.39 ▲ 2.89 ▲ 0.06%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,652.50 ▲ 2.70 ▲ 0.05%
Shanghai_Comp 3,957.35 ▲ 134.18 ▲ 3.51%
Taiwan_Weight 9,045.98 ▲ 3.77 ▲ 0.04%
Nikkei_225___ 20,650.92 ▲ 50.80 ▲ 0.25%
Hang_Seng.__ 25,415.27 ▲ 252.49 ▲ 1.00%
Strait_Times.__ 3,353.45 ▲ 14.59 ▲ 0.44%
NZX_50_Index_ 5,853.76 ▲ 29.61 ▲ 0.51%
http://finance.yahoo.com/news/nasdaq-logs-best-week-nearly-201730212.html
Nasdaq logs best week in nearly nine months as Google jumps
Nasdaq logs best week in nearly nine months as Google surges on strong earnings
Associated Press By Matthew Craft, AP Business Writer
NEW YORK (AP) -- A strong week fizzled to a close on Friday as the stock market eked out a small gain. But a few companies made big moves. Google surged after reporting strong results, pushing the Nasdaq to another record high.
It was a quiet end to an eventful week. Markets around the world rallied on Monday after Greece and its creditors agreed to a broad framework for a new loan program. Stronger quarterly earnings reports from a range of big U.S. companies, including Citigroup and JPMorgan Chase, added more encouragement.
"It appears the sky is clearing," said Linda Duessel, senior equity strategist at Federated Investors.
Before this week, concerns about China's plunging stock market and the prospect of Greece leaving the euro "had been bogging us down," she said.
The Standard & Poor's 500 index edged up 2.35 points, or 0.1 percent, to close at 2,126.64. The broad-market measure finished the week with a gain of 2.4 percent, its best performance in four months.
The Nasdaq rose 46.96 points, or 0.9 percent, to 5,210.14, closing out its best week in nine months. The Dow Jones industrial average lost 33.80 points, or 0.2 percent, at 18,086.45.
Google jumped after reporting profits and sales that topped analysts' forecasts late Thursday. The results ended six consecutive quarters in which Google's earnings fell short of analysts' targets. Google rose $97.84, or 16 percent, to $699.62.
Earnings reports out this week have looked better than Wall Street expected. Analysts forecast that second-quarter earnings will shrink 3.3 percent compared with the prior year, according to S&P Capital IQ. Last week, the prediction was for a drop of 4.4 percent.
Greece's deal cleared another hurdle on Friday when German lawmakers overwhelmingly backed it. The European Union also said it would get Athens enough money for it to keep making its debt payments.
Europe's major markets finished mixed after rallying earlier this week. Germany's DAX lost 0.4 percent while France's CAC edged up 0.1 percent. Britain's FTSE 100 slipped 0.3 percent.
Back in the U.S., Comerica reported a drop in quarterly earnings, partially a result of the Dallas-based bank setting aside more money to cover losses on loans to oil companies. The news drove Comerica's stock down $3.19, or 6.3 percent, to $47.28.
Bond prices barely moved, leaving the 10-year Treasury note at 2.35 percent. The dollar dropped to 124.06 yen while rising to $1.0838 for every euro.
In commodities trading, precious and industrial metals sank. Gold fell $12 to settle at $1,131.90 an ounce, while silver sank 15 cents to $14.92 an ounce. Copper fell 3 cents to $2.50 a pound.
Benchmark U.S. crude oil fell two cents to close at $50.89 a barrel in New York. Brent crude, the international benchmark, rose 18 cents to close at $57.10 a barrel in London.
In other trading on the New York Mercantile Exchange:
— Wholesale gasoline rose 3.2 cents to close at $1.929 a gallon.
— Heating oil fell 0.2 cent to close at $1.664 a gallon.
— Natural gas increased 1.6 cents to close at $2.870 per 1,000 cubic feet.
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bigdog
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Source: http://finance.yahoo.com
The NYSE DOW closed HIGHER ▲ 13.96 points or ▲ 0.08% on Monday, 20 July 2015
Symbol …........Last …......Change.......
Dow_Jones 18,100.41 ▲ 13.96 ▲ 0.08%
Nasdaq____ 5,218.86 ▲ 8.72 ▲ 0.17%
S&P_500___ 2,128.28 ▲ 1.64 ▲ 0.08%
30_Yr_Bond____ 3.11 ▲ 0.02 ▲ 0.75%
NYSE Volume 3,255,950,500
Nasdaq Volume 1,818,069,380
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,788.69 ▲ 13.61 ▲ 0.20%
DAX_____ 11,735.72 ▲ 62.30 ▲ 0.53%
CAC_40__ 5,142.49 ▲ 18.10 ▲ 0.35%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,669.00 ▲ 16.50 ▲ 0.29%
Shanghai_Comp 3,992.11 ▲ 34.76 ▲ 0.88%
Taiwan_Weight 8,975.00 ▼ -70.98 ▼ -0.78%
Nikkei_225___ 20,650.92 ▲ 50.80 ▲ 0.25%
Hang_Seng.__ 25,404.81 ▼ -10.46 ▼ -0.04%
Strait_Times.__ 3,373.48 ▲ 20.03 ▲ 0.60%
NZX_50_Index_ 5,861.93 ▲ 8.17 ▲ 0.14%
http://finance.yahoo.com/news/us-stocks-notch-modest-gains-201243635.html
US stocks notch modest gains on solid earnings reports
US stocks rise slightly as following earnings gains from Hasbro, others; PayPal surges
Associated Press By Alex Veiga, AP Business Writer
U.S. stocks ended slightly higher on Monday after a mostly listless day of trading. The Nasdaq composite managed to eke out its second straight record high.
Investors had their eye on company earnings news after weeks of fretting over Greece's debt crisis and a steep slide in China's stock market.
"We're focused on earnings and they're coming in better," said Quincy Krosby, a market strategist at Prudential Financial. "Even though the estimates have been lowered, the companies beating are beating very nicely."
Technology stocks rose more than the rest of the market. Gold slumped to its lowest level in five years, pulling mining stocks lower. A nearly three-week slump in oil prices deepened.
The Dow Jones industrial average gained 13.96 points, or 0.1 percent, to 18,100.41. The Standard & Poor's 500 index added 1.64 points, or 0.1 percent, to 2,128.28. The Nasdaq rose 8.72, or 0.2 percent, to 5,218.86, eclipsing its previous record set last Friday.
The three major indexes are up for the year. The S&P is up 3.4 percent, while the Dow is up 1.6 percent. The Nasdaq has gained 10.2 percent this year.
Stocks briefly wavered in early trading Monday, but mostly remained on course for a gain as traders reviewed the latest earnings reports.
Toymaker Hasbro and the oil and gas company Halliburton rose after reporting results Monday that were better than analysts were expecting.
Hasbro climbed $4.90, or 6.3 percent, to $83.15. Halliburton added 73 cents, or 1.8 percent, to $40.72.
PayPal surged 5.4 percent on its first day of trading as a stand-alone company after its separation from eBay. PayPal gained $2.08 to $40.47.
Newmont Mining slid 12.2 percent as gold prices slumped. The stock lost $2.53 to $18.16.
All told, seven of the 10 sectors in the S&P 500 moved higher, led by technology stocks. The sector is up 5.7 percent this year. Energy stocks fell the most, extending the sector's losses for the year to 10.5 percent.
It's a slow week for major economic news, but investors have their hands full with about 129 companies expected to report earnings.
More than 20, including Microsoft and Apple, will be delivering earnings on Tuesday.
Analysts forecast that second-quarter earnings by companies in the S&P 500 will shrink 3.4 percent compared with the prior year, according to S&P Capital IQ.
Earnings are taking center stage once again as fears over a Greek exit from the euro have abated.
On Monday, Greek banks reopened for the first time in more than three weeks. The European Union sent Athens the short-term money it needs to pay off a 4.2 billion-euro ($4.6 billion) debt to the European Central Bank and clear its arrears with the International Monetary Fund. Other hurdles remain before Greece secures its third bailout.
In energy futures trading, the price of oil continued its nearly three-week slump as it fell with other commodities over concerns over weakening demand in China.
Benchmark U.S. crude dipped below $50 briefly for the first time since April and closed down 74 cents to $50.15 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 45 cents to close at $56.65 in London.
In other futures trading on the NYMEX, wholesale gasoline rose 0.1 cent to close at $1.930 a gallon. Heating oil fell 0.6 cent to close at $1.658 a gallon. Natural gas fell 4.7 cents to close at $2.823 per 1,000 cubic feet.
Precious and industrial metals futures ended lower. Gold slumped $25.10 to $1,106.80 an ounce. Gold is trading at a five-year low as its appeal as a safe haven asset and a hedge against inflation have waned. Silver lost 8 cents to $14.75 an ounce. Copper fell two cents to $2.48 a pound.
U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.38 percent from 2.35 percent late Friday.
The NYSE DOW closed HIGHER ▲ 13.96 points or ▲ 0.08% on Monday, 20 July 2015
Symbol …........Last …......Change.......
Dow_Jones 18,100.41 ▲ 13.96 ▲ 0.08%
Nasdaq____ 5,218.86 ▲ 8.72 ▲ 0.17%
S&P_500___ 2,128.28 ▲ 1.64 ▲ 0.08%
30_Yr_Bond____ 3.11 ▲ 0.02 ▲ 0.75%
NYSE Volume 3,255,950,500
Nasdaq Volume 1,818,069,380
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,788.69 ▲ 13.61 ▲ 0.20%
DAX_____ 11,735.72 ▲ 62.30 ▲ 0.53%
CAC_40__ 5,142.49 ▲ 18.10 ▲ 0.35%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,669.00 ▲ 16.50 ▲ 0.29%
Shanghai_Comp 3,992.11 ▲ 34.76 ▲ 0.88%
Taiwan_Weight 8,975.00 ▼ -70.98 ▼ -0.78%
Nikkei_225___ 20,650.92 ▲ 50.80 ▲ 0.25%
Hang_Seng.__ 25,404.81 ▼ -10.46 ▼ -0.04%
Strait_Times.__ 3,373.48 ▲ 20.03 ▲ 0.60%
NZX_50_Index_ 5,861.93 ▲ 8.17 ▲ 0.14%
http://finance.yahoo.com/news/us-stocks-notch-modest-gains-201243635.html
US stocks notch modest gains on solid earnings reports
US stocks rise slightly as following earnings gains from Hasbro, others; PayPal surges
Associated Press By Alex Veiga, AP Business Writer
U.S. stocks ended slightly higher on Monday after a mostly listless day of trading. The Nasdaq composite managed to eke out its second straight record high.
Investors had their eye on company earnings news after weeks of fretting over Greece's debt crisis and a steep slide in China's stock market.
"We're focused on earnings and they're coming in better," said Quincy Krosby, a market strategist at Prudential Financial. "Even though the estimates have been lowered, the companies beating are beating very nicely."
Technology stocks rose more than the rest of the market. Gold slumped to its lowest level in five years, pulling mining stocks lower. A nearly three-week slump in oil prices deepened.
The Dow Jones industrial average gained 13.96 points, or 0.1 percent, to 18,100.41. The Standard & Poor's 500 index added 1.64 points, or 0.1 percent, to 2,128.28. The Nasdaq rose 8.72, or 0.2 percent, to 5,218.86, eclipsing its previous record set last Friday.
The three major indexes are up for the year. The S&P is up 3.4 percent, while the Dow is up 1.6 percent. The Nasdaq has gained 10.2 percent this year.
Stocks briefly wavered in early trading Monday, but mostly remained on course for a gain as traders reviewed the latest earnings reports.
Toymaker Hasbro and the oil and gas company Halliburton rose after reporting results Monday that were better than analysts were expecting.
Hasbro climbed $4.90, or 6.3 percent, to $83.15. Halliburton added 73 cents, or 1.8 percent, to $40.72.
PayPal surged 5.4 percent on its first day of trading as a stand-alone company after its separation from eBay. PayPal gained $2.08 to $40.47.
Newmont Mining slid 12.2 percent as gold prices slumped. The stock lost $2.53 to $18.16.
All told, seven of the 10 sectors in the S&P 500 moved higher, led by technology stocks. The sector is up 5.7 percent this year. Energy stocks fell the most, extending the sector's losses for the year to 10.5 percent.
It's a slow week for major economic news, but investors have their hands full with about 129 companies expected to report earnings.
More than 20, including Microsoft and Apple, will be delivering earnings on Tuesday.
Analysts forecast that second-quarter earnings by companies in the S&P 500 will shrink 3.4 percent compared with the prior year, according to S&P Capital IQ.
Earnings are taking center stage once again as fears over a Greek exit from the euro have abated.
On Monday, Greek banks reopened for the first time in more than three weeks. The European Union sent Athens the short-term money it needs to pay off a 4.2 billion-euro ($4.6 billion) debt to the European Central Bank and clear its arrears with the International Monetary Fund. Other hurdles remain before Greece secures its third bailout.
In energy futures trading, the price of oil continued its nearly three-week slump as it fell with other commodities over concerns over weakening demand in China.
Benchmark U.S. crude dipped below $50 briefly for the first time since April and closed down 74 cents to $50.15 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 45 cents to close at $56.65 in London.
In other futures trading on the NYMEX, wholesale gasoline rose 0.1 cent to close at $1.930 a gallon. Heating oil fell 0.6 cent to close at $1.658 a gallon. Natural gas fell 4.7 cents to close at $2.823 per 1,000 cubic feet.
Precious and industrial metals futures ended lower. Gold slumped $25.10 to $1,106.80 an ounce. Gold is trading at a five-year low as its appeal as a safe haven asset and a hedge against inflation have waned. Silver lost 8 cents to $14.75 an ounce. Copper fell two cents to $2.48 a pound.
U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.38 percent from 2.35 percent late Friday.
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bigdog
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- Joined
- 19 July 2006
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- 8,127
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Source: http://finance.yahoo.com
The NYSE DOW closed LOWER ▼ -181.12 points or ▼ -1.00% on Tuesday, 21 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,919.29 ▼ -181.12 ▼ -1.00%
Nasdaq____ 5,208.12 ▼ -10.74 ▼ -0.21%
S&P_500___ 2,119.21 ▼ -9.07 ▼ -0.43%
30_Yr_Bond____ 3.08 ▼ -0.03 ▼ -0.84%
NYSE Volume 3,343,757,000
Nasdaq Volume 1,775,857,120
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,769.07 ▼ -19.62 ▼ -0.29%
DAX_____ 11,604.80 ▼ -130.92 ▼ -1.12%
CAC_40__ 5,106.57 ▼ -35.92 ▼ -0.70%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,688.50 ▲ 19.50 ▲ 0.34%
Shanghai_Comp 4,017.67 ▲ 25.56 ▲ 0.64%
Taiwan_Weight 9,005.96 ▲ 30.96 ▲ 0.34%
Nikkei_225___ 20,841.97 ▲ 191.05 ▲ 0.93%
Hang_Seng.__ 25,536.43 ▲ 131.62 ▲ 0.52%
Strait_Times.__ 3,371.41 ▼ -2.07 ▼ -0.06%
NZX_50_Index_ 5,876.91 ▲ 14.98 ▲ 0.26%
http://finance.yahoo.com/news/weak-showings-companies-including-ibm-201312658.html
Weak showings from companies including IBM send stocks lower
US stocks end lower after several companies including IBM report disappointing results
Associated Press By Alex Veiga, AP Business Writer
Disappointing earnings from several big U.S. companies put investors in a selling mood Tuesday, giving the stock market its first broad decline in four days.
IBM and United Technologies were among the companies whose latest quarterly report cards fell short of Wall Street's expectations or included dimmer outlooks. Telecommunications stocks were among the biggest decliners.
Traders have been focusing on the health of Corporate America to get a read on how the global economy is doing, though it's still early days. Only about 12 percent of the companies in the Standard & Poor's 500 index have reported earnings so far.
"Investors appear to be in a listen-only mode as we await greater clarity on second-quarter results," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "Our belief is that equities still grind higher, but we're in a sideways-trending mode here into August and perhaps even in the early part of September as well."
The Dow Jones industrial average slumped 181.12 points, or 1 percent, to 17,919.29. The S&P 500 index lost 9.07 points, or 0.4 percent, to 2,119.21.
The Nasdaq composite slid 10.74 points, or 0.2 percent, to 5,208.12. The tech-heavy index closed at a record high the previous two days.
The three major stock indexes remain up for the year.
Nine of the 10 sectors in the S&P 500 index declined, led by a 1.7 percent drop in telecommunications stocks. Energy stocks rose slightly.
Stocks headed lower early on Tuesday as investors reacted to IBM's latest quarterly results, released late Monday. The market stayed in the red the rest of the day.
IBM delivered better-than-expected earnings, but its revenue fell short of financial analysts' forecasts. The stock slumped $10.15, or 5.9 percent, to $163.07.
On Tuesday, United Technologies reported earnings that didn't meet forecasts. The aerospace company also cut its outlook for 2015, citing weaker sales of Otis elevators in Europe and China's slowing economy. The stock lost $7.77, or 7 percent, to $102.71.
Verizon Communications also declined. While its earnings topped Wall Street's expectations, the number of newly added wireless postpaid customers was down from last year. Verizon fell $1.13, or 2.3 percent, to $46.97.
Investors found some companies' earnings made them buy-worthy.
Harley-Davidson surged 5 percent after the motorcycle maker's second-quarter earnings beat Wall Street expectations. The stock added $2.73 to $57.67.
Apple fell in after-hours trading after the company reported strong iPhone sales but revealed little about how sales of its new smartwatch were doing. The company also issued a forecast for the current quarter that suggested revenue could fall below analysts' estimates. Apple slid $8.45, or 6 percent, to $122.27.
Microsoft fell 3 percent in extended trading. The company, which also released its results after the closing bell, booked an $8.4 billion expense to write off the Nokia phone business it bought just over a year ago.
"The market is being cautious, waiting for a little more direction," said Ian Kerrigan, global investment specialist at J.P. Morgan Private Bank. "There are people who are taking some gains out there and waiting a little while to see what happens with Greece, what happens with China, what happens with the Fed."
About 60 percent of the companies in the S&P 500 report over the next two weeks. Analysts forecast that second-quarter earnings by companies in the S&P 500 will shrink 3.3 percent compared with the prior year, according to S&P Capital IQ.
Excluding results from energy sector companies, second-quarter earnings by companies in the index are projected to be up 4.5 percent, however.
In energy futures trading, benchmark U.S. crude rose 21 cents to close at $50.36 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, climbed 39 cents to close at $57.04 a barrel in London.
In other futures trading on the New York Mercantile Exchange, wholesale gasoline fell 0.9 cent to close at $1.921 a gallon. Heating oil rose 2 cents to close at $1.678 a gallon. Natural gas rose 5.9 cents to close at $2.882 per 1,000 cubic feet.
Precious and industrial metals futures ended mixed. Gold fell $3.30 to $1,103.50 an ounce, silver edged up two cents to $14.77 an ounce and copper edged down less than a penny to $2.48 a pound.
U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.33 percent from 2.38 percent late Monday.
Among other stocks making big moves Tuesday:
”” LifeLock plunged 49.3 percent after the Federal Trade Commission accused the identity theft protection company of misleading customers about the level of protection and the timeliness of the warnings they will receive. The agency also contends that LifeLock isn't living up to a previous $12 million settlement with regulators. The company said it is prepared to defend itself in court. The stock slid $7.91 to $8.15.
”” Chesapeake Energy fell 9.5 percent on news that the energy company has axed its annual dividend and will redirect the money into its 2016 capital spending program. The move comes as natural gas and crude are in an extended decline with few signs of a rebound. The stock lost 98 cents to $9.29.
The NYSE DOW closed LOWER ▼ -181.12 points or ▼ -1.00% on Tuesday, 21 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,919.29 ▼ -181.12 ▼ -1.00%
Nasdaq____ 5,208.12 ▼ -10.74 ▼ -0.21%
S&P_500___ 2,119.21 ▼ -9.07 ▼ -0.43%
30_Yr_Bond____ 3.08 ▼ -0.03 ▼ -0.84%
NYSE Volume 3,343,757,000
Nasdaq Volume 1,775,857,120
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,769.07 ▼ -19.62 ▼ -0.29%
DAX_____ 11,604.80 ▼ -130.92 ▼ -1.12%
CAC_40__ 5,106.57 ▼ -35.92 ▼ -0.70%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,688.50 ▲ 19.50 ▲ 0.34%
Shanghai_Comp 4,017.67 ▲ 25.56 ▲ 0.64%
Taiwan_Weight 9,005.96 ▲ 30.96 ▲ 0.34%
Nikkei_225___ 20,841.97 ▲ 191.05 ▲ 0.93%
Hang_Seng.__ 25,536.43 ▲ 131.62 ▲ 0.52%
Strait_Times.__ 3,371.41 ▼ -2.07 ▼ -0.06%
NZX_50_Index_ 5,876.91 ▲ 14.98 ▲ 0.26%
http://finance.yahoo.com/news/weak-showings-companies-including-ibm-201312658.html
Weak showings from companies including IBM send stocks lower
US stocks end lower after several companies including IBM report disappointing results
Associated Press By Alex Veiga, AP Business Writer
Disappointing earnings from several big U.S. companies put investors in a selling mood Tuesday, giving the stock market its first broad decline in four days.
IBM and United Technologies were among the companies whose latest quarterly report cards fell short of Wall Street's expectations or included dimmer outlooks. Telecommunications stocks were among the biggest decliners.
Traders have been focusing on the health of Corporate America to get a read on how the global economy is doing, though it's still early days. Only about 12 percent of the companies in the Standard & Poor's 500 index have reported earnings so far.
"Investors appear to be in a listen-only mode as we await greater clarity on second-quarter results," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "Our belief is that equities still grind higher, but we're in a sideways-trending mode here into August and perhaps even in the early part of September as well."
The Dow Jones industrial average slumped 181.12 points, or 1 percent, to 17,919.29. The S&P 500 index lost 9.07 points, or 0.4 percent, to 2,119.21.
The Nasdaq composite slid 10.74 points, or 0.2 percent, to 5,208.12. The tech-heavy index closed at a record high the previous two days.
The three major stock indexes remain up for the year.
Nine of the 10 sectors in the S&P 500 index declined, led by a 1.7 percent drop in telecommunications stocks. Energy stocks rose slightly.
Stocks headed lower early on Tuesday as investors reacted to IBM's latest quarterly results, released late Monday. The market stayed in the red the rest of the day.
IBM delivered better-than-expected earnings, but its revenue fell short of financial analysts' forecasts. The stock slumped $10.15, or 5.9 percent, to $163.07.
On Tuesday, United Technologies reported earnings that didn't meet forecasts. The aerospace company also cut its outlook for 2015, citing weaker sales of Otis elevators in Europe and China's slowing economy. The stock lost $7.77, or 7 percent, to $102.71.
Verizon Communications also declined. While its earnings topped Wall Street's expectations, the number of newly added wireless postpaid customers was down from last year. Verizon fell $1.13, or 2.3 percent, to $46.97.
Investors found some companies' earnings made them buy-worthy.
Harley-Davidson surged 5 percent after the motorcycle maker's second-quarter earnings beat Wall Street expectations. The stock added $2.73 to $57.67.
Apple fell in after-hours trading after the company reported strong iPhone sales but revealed little about how sales of its new smartwatch were doing. The company also issued a forecast for the current quarter that suggested revenue could fall below analysts' estimates. Apple slid $8.45, or 6 percent, to $122.27.
Microsoft fell 3 percent in extended trading. The company, which also released its results after the closing bell, booked an $8.4 billion expense to write off the Nokia phone business it bought just over a year ago.
"The market is being cautious, waiting for a little more direction," said Ian Kerrigan, global investment specialist at J.P. Morgan Private Bank. "There are people who are taking some gains out there and waiting a little while to see what happens with Greece, what happens with China, what happens with the Fed."
About 60 percent of the companies in the S&P 500 report over the next two weeks. Analysts forecast that second-quarter earnings by companies in the S&P 500 will shrink 3.3 percent compared with the prior year, according to S&P Capital IQ.
Excluding results from energy sector companies, second-quarter earnings by companies in the index are projected to be up 4.5 percent, however.
In energy futures trading, benchmark U.S. crude rose 21 cents to close at $50.36 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, climbed 39 cents to close at $57.04 a barrel in London.
In other futures trading on the New York Mercantile Exchange, wholesale gasoline fell 0.9 cent to close at $1.921 a gallon. Heating oil rose 2 cents to close at $1.678 a gallon. Natural gas rose 5.9 cents to close at $2.882 per 1,000 cubic feet.
Precious and industrial metals futures ended mixed. Gold fell $3.30 to $1,103.50 an ounce, silver edged up two cents to $14.77 an ounce and copper edged down less than a penny to $2.48 a pound.
U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.33 percent from 2.38 percent late Monday.
Among other stocks making big moves Tuesday:
”” LifeLock plunged 49.3 percent after the Federal Trade Commission accused the identity theft protection company of misleading customers about the level of protection and the timeliness of the warnings they will receive. The agency also contends that LifeLock isn't living up to a previous $12 million settlement with regulators. The company said it is prepared to defend itself in court. The stock slid $7.91 to $8.15.
”” Chesapeake Energy fell 9.5 percent on news that the energy company has axed its annual dividend and will redirect the money into its 2016 capital spending program. The move comes as natural gas and crude are in an extended decline with few signs of a rebound. The stock lost 98 cents to $9.29.
Attachments
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
- Reactions
- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed LOWER ▼ -68.25 points or ▼ -0.38% on Wednesday, 22 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,851.04 ▼ -68.25 ▼ -0.38%
Nasdaq____ 5,171.77 ▼ -36.35 ▼ -0.70%
S&P_500___ 2,114.15 ▼ -5.06 ▼ -0.24%
30_Yr_Bond____ 3.04 ▼ -0.04 ▼ -1.40%
NYSE Volume 3,694,134,000
Nasdaq Volume 2,037,507,880
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,667.34 ▼ -101.73 ▼ -1.50%
DAX_____ 11,520.67 ▼ -84.13 ▼ -0.72%
CAC_40__ 5,082.57 ▼ -24.00 ▼ -0.47%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,603.50 ▼ -85.00 ▼ -1.49%
Shanghai_Comp 4,026.04 ▲ 8.37 ▲ 0.21%
Taiwan_Weight 8,918.70 ▼ -87.26 ▼ -0.97%
Nikkei_225___ 20,593.67 ▼ -248.30 ▼ -1.19%
Hang_Seng.__ 25,282.62 ▼ -253.81 ▼ -0.99%
Strait_Times.__ 3,358.63 ▼ -12.78 ▼ -0.38%
NZX_50_Index_ 5,927.75 ▲ 50.84 ▲ 0.87%
http://finance.yahoo.com/news/techn...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3
Technology shares lead a slump in US stocks; Apple sinks
Technology stocks sink, dragging broader market lower, on weak showings from Apple, others
Associated Press By Alex Veiga, AP Business Writer
U.S. stocks notched their second decline in as many days Wednesday, pulled down by a technology stock slump headlined by Apple and Microsoft.
Both companies delivered disappointing quarterly results or outlooks the night before, setting the stage for the sell-off in the technology sector.
"Apple is the biggest publicly traded company in the world, so it's going to have a big impact on the indices," noted Erik Davidson, chief investment officer at Wells Fargo Private Bank.
The slide wasn't that broad, however. Financial and utilities stocks were among the big gainers. And homebuilders got a boost from a report indicating U.S. home sales surged last month to the fastest pace in more than eight years.
The Dow Jones industrial average slid 68.25 points, or 0.4 percent, to 17,851.04. The Standard & Poor's 500 index lost 5.06 points, or 0.2 percent, to 2,114.15.
The Nasdaq composite shed 36.35 points, or 0.7 percent, to 5,171.77. The tech-heavy index, which hit a new high on Monday, remains the best-performing index for the year. It's up 9.2 percent, while the S&P 500 is up 2.7 percent and the Dow is essentially flat.
Five of the 10 sectors in the S&P 500 index declined, led by a 1.6 percent drop in technology stocks. Financials led the gainers, rising 0.7 percent.
The major stock indexes declined from the get-go as traders reacted to weaker showings late Tuesday from Microsoft, Yahoo and Apple.
Yahoo posted a nearly $22 million loss driven by soaring commissions paid to its partners and flat sales. The stock slipped 49 cents, or 1.2 percent, to $39.24.
Microsoft's slide was more pronounced at 3.7 percent. The company reported a hefty quarterly loss stemming from an expense of $8.4 billion related to its purchase of the Nokia phone business over a year ago. The stock lost $1.74 to $45.54.
Apple fared the worst, shedding 4.2 percent after management gave a cautious outlook for the current quarter and didn't provide much detail on how the company's new smartwatch was doing. Apple's latest results also stirred investor concerns about a slowdown in the growth of iPhone sales. The stock fell $5.53 to 125.22.
Despite its size, Apple's latest results don't necessarily speak to the overall health of the economy or corporate America, Davidson said.
"Do iPhone sales tell us a lot about the broader economy and the markets or does it tell us more about Apple? It probably tells us more about Apple," Davidson said. "In general, you have a U.S. economy that is recovering. Earnings are going fairly well."
Several other companies, including consumer reviews service Angie's List, Tupperware Brands and Packaging Corp. of America reported earnings or revenue that fell short of Wall Street's expectations.
Whirlpool and Chipotle Mexican Grill were among the companies whose earnings impressed investors Wednesday.
Shares in Whirlpool vaulted $12.15, or 7.3 percent, to $178.36, while Chipotle gained $52.75, or 7.8 percent, to $725.82.
Investors have their eye on company earnings and outlooks to get a sense of how the economy is doing. Of the roughly 104 companies that have reported so far, about 70 percent of them delivered results that beat Wall Street estimates, according to S&P Capital IQ.
McDonald's and Caterpillar are among the other big-name companies reporting earnings on Thursday.
In a light week of economic news, the market got encouraging data on the housing market.
The National Association of Realtors said that sales of previously occupied homes climbed 3.2 percent in June to a seasonally adjusted annual rate of 5.49 million. That's the highest pace in more than eight years and indicates that demand has eclipsed the amount of homes available for sale.
Homebuilder shares got a bump from the report, with New Home notching the biggest gain. The stock rose 99 cents, or 5.9 percent, to $17.81.
"It may be tough to keep that pace, but it really shows how much the housing market is going in the right direction, and along with employment, there's a lot of hope for the economy," said JJ Kinahan, TD Ameritrade's chief strategist.
The price of oil closed below $50 for the first time since April after the government reported a surprise increase in U.S. crude inventories.
Oil inventories typically shrink this time of year because demand is high, and analysts had expected a decline of 1.9 million barrels, according to Platts. Instead, crude supplies increased by 2.5 million barrels, according to the Energy Information Administration's weekly status report.
Benchmark U.S. crude fell $1.67 to close at $49.19 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 91 cents to close at $56.13 a barrel in London.
In other futures trading on the New York Mercantile Exchange, wholesale gasoline fell 5.3 cents to close at $1.868 a gallon. Heating oil fell 0.6 cents to close at $1.672 a gallon. Natural gas rose 1.5 cents to close at $2.897 per 1,000 cubic feet.
Precious and industrial metals futures fell.
Gold lost $12 to $1,091.50 an ounce. Silver gave up six cents to $14.71 an ounce and copper declined five cents to $2.43 an ounce.
Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.33 percent.
The NYSE DOW closed LOWER ▼ -68.25 points or ▼ -0.38% on Wednesday, 22 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,851.04 ▼ -68.25 ▼ -0.38%
Nasdaq____ 5,171.77 ▼ -36.35 ▼ -0.70%
S&P_500___ 2,114.15 ▼ -5.06 ▼ -0.24%
30_Yr_Bond____ 3.04 ▼ -0.04 ▼ -1.40%
NYSE Volume 3,694,134,000
Nasdaq Volume 2,037,507,880
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,667.34 ▼ -101.73 ▼ -1.50%
DAX_____ 11,520.67 ▼ -84.13 ▼ -0.72%
CAC_40__ 5,082.57 ▼ -24.00 ▼ -0.47%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,603.50 ▼ -85.00 ▼ -1.49%
Shanghai_Comp 4,026.04 ▲ 8.37 ▲ 0.21%
Taiwan_Weight 8,918.70 ▼ -87.26 ▼ -0.97%
Nikkei_225___ 20,593.67 ▼ -248.30 ▼ -1.19%
Hang_Seng.__ 25,282.62 ▼ -253.81 ▼ -0.99%
Strait_Times.__ 3,358.63 ▼ -12.78 ▼ -0.38%
NZX_50_Index_ 5,927.75 ▲ 50.84 ▲ 0.87%
http://finance.yahoo.com/news/techn...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3
Technology shares lead a slump in US stocks; Apple sinks
Technology stocks sink, dragging broader market lower, on weak showings from Apple, others
Associated Press By Alex Veiga, AP Business Writer
U.S. stocks notched their second decline in as many days Wednesday, pulled down by a technology stock slump headlined by Apple and Microsoft.
Both companies delivered disappointing quarterly results or outlooks the night before, setting the stage for the sell-off in the technology sector.
"Apple is the biggest publicly traded company in the world, so it's going to have a big impact on the indices," noted Erik Davidson, chief investment officer at Wells Fargo Private Bank.
The slide wasn't that broad, however. Financial and utilities stocks were among the big gainers. And homebuilders got a boost from a report indicating U.S. home sales surged last month to the fastest pace in more than eight years.
The Dow Jones industrial average slid 68.25 points, or 0.4 percent, to 17,851.04. The Standard & Poor's 500 index lost 5.06 points, or 0.2 percent, to 2,114.15.
The Nasdaq composite shed 36.35 points, or 0.7 percent, to 5,171.77. The tech-heavy index, which hit a new high on Monday, remains the best-performing index for the year. It's up 9.2 percent, while the S&P 500 is up 2.7 percent and the Dow is essentially flat.
Five of the 10 sectors in the S&P 500 index declined, led by a 1.6 percent drop in technology stocks. Financials led the gainers, rising 0.7 percent.
The major stock indexes declined from the get-go as traders reacted to weaker showings late Tuesday from Microsoft, Yahoo and Apple.
Yahoo posted a nearly $22 million loss driven by soaring commissions paid to its partners and flat sales. The stock slipped 49 cents, or 1.2 percent, to $39.24.
Microsoft's slide was more pronounced at 3.7 percent. The company reported a hefty quarterly loss stemming from an expense of $8.4 billion related to its purchase of the Nokia phone business over a year ago. The stock lost $1.74 to $45.54.
Apple fared the worst, shedding 4.2 percent after management gave a cautious outlook for the current quarter and didn't provide much detail on how the company's new smartwatch was doing. Apple's latest results also stirred investor concerns about a slowdown in the growth of iPhone sales. The stock fell $5.53 to 125.22.
Despite its size, Apple's latest results don't necessarily speak to the overall health of the economy or corporate America, Davidson said.
"Do iPhone sales tell us a lot about the broader economy and the markets or does it tell us more about Apple? It probably tells us more about Apple," Davidson said. "In general, you have a U.S. economy that is recovering. Earnings are going fairly well."
Several other companies, including consumer reviews service Angie's List, Tupperware Brands and Packaging Corp. of America reported earnings or revenue that fell short of Wall Street's expectations.
Whirlpool and Chipotle Mexican Grill were among the companies whose earnings impressed investors Wednesday.
Shares in Whirlpool vaulted $12.15, or 7.3 percent, to $178.36, while Chipotle gained $52.75, or 7.8 percent, to $725.82.
Investors have their eye on company earnings and outlooks to get a sense of how the economy is doing. Of the roughly 104 companies that have reported so far, about 70 percent of them delivered results that beat Wall Street estimates, according to S&P Capital IQ.
McDonald's and Caterpillar are among the other big-name companies reporting earnings on Thursday.
In a light week of economic news, the market got encouraging data on the housing market.
The National Association of Realtors said that sales of previously occupied homes climbed 3.2 percent in June to a seasonally adjusted annual rate of 5.49 million. That's the highest pace in more than eight years and indicates that demand has eclipsed the amount of homes available for sale.
Homebuilder shares got a bump from the report, with New Home notching the biggest gain. The stock rose 99 cents, or 5.9 percent, to $17.81.
"It may be tough to keep that pace, but it really shows how much the housing market is going in the right direction, and along with employment, there's a lot of hope for the economy," said JJ Kinahan, TD Ameritrade's chief strategist.
The price of oil closed below $50 for the first time since April after the government reported a surprise increase in U.S. crude inventories.
Oil inventories typically shrink this time of year because demand is high, and analysts had expected a decline of 1.9 million barrels, according to Platts. Instead, crude supplies increased by 2.5 million barrels, according to the Energy Information Administration's weekly status report.
Benchmark U.S. crude fell $1.67 to close at $49.19 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 91 cents to close at $56.13 a barrel in London.
In other futures trading on the New York Mercantile Exchange, wholesale gasoline fell 5.3 cents to close at $1.868 a gallon. Heating oil fell 0.6 cents to close at $1.672 a gallon. Natural gas rose 1.5 cents to close at $2.897 per 1,000 cubic feet.
Precious and industrial metals futures fell.
Gold lost $12 to $1,091.50 an ounce. Silver gave up six cents to $14.71 an ounce and copper declined five cents to $2.43 an ounce.
Bond prices didn't move much. The yield on the 10-year Treasury note held steady at 2.33 percent.
Attachments
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
- Reactions
- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed LOWER ▼ -119.12 points or ▼ -0.67% on Thursday, 23 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,731.92 ▼ -119.12 ▼ -0.67%
Nasdaq____ 5,146.41 ▼ -25.36 ▼ -0.49%
S&P_500___ 2,102.15 ▼ -12.00 ▼ -0.57%
30_Yr_Bond____ 2.98 ▼ -0.06 ▼ -1.94%
NYSE Volume 3,772,994,750
Nasdaq Volume 2,005,523,750
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,655.01 ▼ -12.33 ▼ -0.18%
DAX_____ 11,512.11 ▼ -8.56 ▼ -0.07%
CAC_40__ 5,086.74 ▲ 4.17 ▲ 0.08%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,581.30 ▼ -22.20 ▼ -0.40%
Shanghai_Comp 4,123.92 ▲ 97.88 ▲ 2.43%
Taiwan_Weight 8,791.12 ▼ -127.58 ▼ -1.43%
Nikkei_225___ 20,683.95 ▲ 90.28 ▲ 0.44%
Hang_Seng.__ 25,398.85 ▲ 116.23 ▲ 0.46%
Strait_Times.__ 3,356.37 ▼ -2.80 ▼ -0.08%
NZX_50_Index_ 5,901.30 ▼ -26.45 ▼ -0.45%
http://finance.yahoo.com/news/stocks-fall-3rd-straight-day-201119684.html
Stocks fall for 3rd straight day as earnings disappoint
Disappointing earnings extend stock market losses to third straight day
Associated Press By Alex Veiga, AP Business Writer
Investors have been second-guessing the strength of company results this week and they found more reasons to do so on Thursday.
Disappointing earnings and outlooks from several big companies, including American Express, Caterpillar and 3M helped drag U.S. stocks lower for a third day in a row. The losing streak has nudged the Dow Jones industrial average into negative territory for the year.
While companies have mostly reported better-than-anticipated profits since the start of the month, many have fallen short when it comes to revenue. Others have issued cautious outlooks, citing the strength of the dollar, a slowing economy in China or falling oil prices. That's giving investors reason to pause.
What investors need in order to push stocks higher again is "true revenue growth from the corporate sector, which we just haven't seen," said Randy Frederick, managing director of trading and derivatives at Charles Schwab & Co.
Amazon bucked the trend, jumping 15 percent in after-hours trading following better-than-expected earnings.
The Dow slid 119.12 points, or 0.7 percent, to 17,731.92. The average is now down 0.5 percent for the year.
The Standard & Poor's 500 index lost 12 points, or 0.6 percent, to 2,102.15. Utilities and materials stocks fell the most among the 10 industry groups on the index.
The Nasdaq composite declined 25.36 points, or 0.5 percent, to 5,146.41. The tech-focused index, which hit a high on Monday, remains the best-performing index for the year. It's up 8.7 percent, compared with 2.1 percent for the S&P 500.
Bond prices rose as investors shifted money from stocks into bonds. The yield on the 10-year Treasury note fell to 2.27 percent.
A slide in the price of oil deepened on concerns that global crude supplies continue to outpace demand. U.S. crude is below $50 a barrel.
Thursday's stock market decline began early as investors sized up the latest earnings.
American Express, Caterpillar and 3M all released weaker-than-expected results. American Express fell $1.98, or 2.5 percent, to $77.01. Caterpillar lost $2.88, or 3.6 percent, to $76.88, while 3M declined $5.91, or 3.8 percent, to $149.50.
Traders bid up shares in other companies that delivered strong results.
General Motors rose 4 percent after the automaker's second-quarter earnings handily beat financial analysts' forecasts. Southwest Airlines turned in its ninth straight quarter of record earnings late Wednesday. The stock also rose 4 percent.
Roughly one-third of the companies in the S&P 500 have reported earnings so far. About 73 percent of them have delivered results that beat Wall Street estimates, according to S&P Capital IQ. That's better than the historical average of 66 percent.
But in many cases, companies are growing earnings by cutting expenses or buying back shares, Frederick said.
In energy futures trading, benchmark U.S. crude fell 74 cents to close at $48.45 a barrel in New York. Crude has fallen 21 percent over the past month, from $61.01 on June 23. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 86 cents Thursday to close at $55.27 in London.
In other futures trading, wholesale gasoline fell 1.6 cents to close at $1.852 a gallon, while heating oil fell 1.7 cents to close at $1.655 a gallon. Natural gas fell 8.1 cents to close at $2.816 per 1,000 cubic feet.
Precious and industrial metals futures ended mixed. Gold rose $2.60 to $1,094.10 an ounce, silver gave up three cents to end at $14.68 an ounce and copper fell five cents to $2.39 a pound.
The NYSE DOW closed LOWER ▼ -119.12 points or ▼ -0.67% on Thursday, 23 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,731.92 ▼ -119.12 ▼ -0.67%
Nasdaq____ 5,146.41 ▼ -25.36 ▼ -0.49%
S&P_500___ 2,102.15 ▼ -12.00 ▼ -0.57%
30_Yr_Bond____ 2.98 ▼ -0.06 ▼ -1.94%
NYSE Volume 3,772,994,750
Nasdaq Volume 2,005,523,750
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,655.01 ▼ -12.33 ▼ -0.18%
DAX_____ 11,512.11 ▼ -8.56 ▼ -0.07%
CAC_40__ 5,086.74 ▲ 4.17 ▲ 0.08%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,581.30 ▼ -22.20 ▼ -0.40%
Shanghai_Comp 4,123.92 ▲ 97.88 ▲ 2.43%
Taiwan_Weight 8,791.12 ▼ -127.58 ▼ -1.43%
Nikkei_225___ 20,683.95 ▲ 90.28 ▲ 0.44%
Hang_Seng.__ 25,398.85 ▲ 116.23 ▲ 0.46%
Strait_Times.__ 3,356.37 ▼ -2.80 ▼ -0.08%
NZX_50_Index_ 5,901.30 ▼ -26.45 ▼ -0.45%
http://finance.yahoo.com/news/stocks-fall-3rd-straight-day-201119684.html
Stocks fall for 3rd straight day as earnings disappoint
Disappointing earnings extend stock market losses to third straight day
Associated Press By Alex Veiga, AP Business Writer
Investors have been second-guessing the strength of company results this week and they found more reasons to do so on Thursday.
Disappointing earnings and outlooks from several big companies, including American Express, Caterpillar and 3M helped drag U.S. stocks lower for a third day in a row. The losing streak has nudged the Dow Jones industrial average into negative territory for the year.
While companies have mostly reported better-than-anticipated profits since the start of the month, many have fallen short when it comes to revenue. Others have issued cautious outlooks, citing the strength of the dollar, a slowing economy in China or falling oil prices. That's giving investors reason to pause.
What investors need in order to push stocks higher again is "true revenue growth from the corporate sector, which we just haven't seen," said Randy Frederick, managing director of trading and derivatives at Charles Schwab & Co.
Amazon bucked the trend, jumping 15 percent in after-hours trading following better-than-expected earnings.
The Dow slid 119.12 points, or 0.7 percent, to 17,731.92. The average is now down 0.5 percent for the year.
The Standard & Poor's 500 index lost 12 points, or 0.6 percent, to 2,102.15. Utilities and materials stocks fell the most among the 10 industry groups on the index.
The Nasdaq composite declined 25.36 points, or 0.5 percent, to 5,146.41. The tech-focused index, which hit a high on Monday, remains the best-performing index for the year. It's up 8.7 percent, compared with 2.1 percent for the S&P 500.
Bond prices rose as investors shifted money from stocks into bonds. The yield on the 10-year Treasury note fell to 2.27 percent.
A slide in the price of oil deepened on concerns that global crude supplies continue to outpace demand. U.S. crude is below $50 a barrel.
Thursday's stock market decline began early as investors sized up the latest earnings.
American Express, Caterpillar and 3M all released weaker-than-expected results. American Express fell $1.98, or 2.5 percent, to $77.01. Caterpillar lost $2.88, or 3.6 percent, to $76.88, while 3M declined $5.91, or 3.8 percent, to $149.50.
Traders bid up shares in other companies that delivered strong results.
General Motors rose 4 percent after the automaker's second-quarter earnings handily beat financial analysts' forecasts. Southwest Airlines turned in its ninth straight quarter of record earnings late Wednesday. The stock also rose 4 percent.
Roughly one-third of the companies in the S&P 500 have reported earnings so far. About 73 percent of them have delivered results that beat Wall Street estimates, according to S&P Capital IQ. That's better than the historical average of 66 percent.
But in many cases, companies are growing earnings by cutting expenses or buying back shares, Frederick said.
In energy futures trading, benchmark U.S. crude fell 74 cents to close at $48.45 a barrel in New York. Crude has fallen 21 percent over the past month, from $61.01 on June 23. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 86 cents Thursday to close at $55.27 in London.
In other futures trading, wholesale gasoline fell 1.6 cents to close at $1.852 a gallon, while heating oil fell 1.7 cents to close at $1.655 a gallon. Natural gas fell 8.1 cents to close at $2.816 per 1,000 cubic feet.
Precious and industrial metals futures ended mixed. Gold rose $2.60 to $1,094.10 an ounce, silver gave up three cents to end at $14.68 an ounce and copper fell five cents to $2.39 a pound.
Attachments
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
- Reactions
- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed LOWER ▼ -163.39 points or ▼ -0.92% on Friday, 24 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,568.53 ▼ -163.39 ▼ -0.92%
Nasdaq____ 5,088.63 ▼ -57.78 ▼ -1.12%
S&P_500___ 2,079.65 ▼ -22.50 ▼ -1.07%
30_Yr_Bond____ 2.97 ▼ -0.01 ▼ -0.27%
NYSE Volume 3,870,016,500
Nasdaq Volume 2,008,801,000
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,579.81 ▼ -75.20 ▼ -1.13%
DAX_____ 11,347.45 ▼ -164.66 ▼ -1.43%
CAC_40__ 5,057.36 ▼ -29.38 ▼ -0.58%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,556.80 ▼ -24.50 ▼ -0.44%
Shanghai_Comp 4,070.91 ▼ -53.01 ▼ -1.29%
Taiwan_Weight 8,767.86 ▼ -23.26 ▼ -0.26%
Nikkei_225___ 20,544.53 ▼ -139.42 ▼ -0.67%
Hang_Seng.__ 25,128.51 ▼ -270.34 ▼ -1.06%
Strait_Times.__ 3,352.65 ▼ -3.72 ▼ -0.11%
NZX_50_Index_ 5,894.18 ▼ -7.12 ▼ -0.12%
http://finance.yahoo.com/news/us-stocks-sink-p-500-200855248.html
US stocks sink; S&P 500 index notches another losing week
Poor company earnings send US stocks lower, giving the S&P 500 index another weekly loss
Associated Press By Alex Veiga, AP Business Writer
The U.S. stock market capped a four-day losing streak with its biggest drop of the week.
Disappointing quarterly results and outlooks from several companies pulled the major stock indexes sharply lower on Friday. New signs pointing to a slowing of China's economy also added to investor jitters, bringing down the price of oil and other commodities.
While corporate profits have mostly exceeded Wall Street's expectations so far this earnings season, investors have grown uneasy as many companies provided cautious outlooks or weak sales.
"The revenue numbers have been very shaky," said JJ Kinahan, TD Ameritrade's chief strategist. "After next week, we'll have a much better picture overall how the earnings season was. But right now, that's the theme that I'm seeing, and it's not a healthy one."
The mixed company earnings increasingly weighed on stocks as the week wore on. The Standard & Poor's 500 index has now lost ground four out of the last five weeks.
The S&P 500 ended the day down 22.50 points, or 1.1 percent, to 2,079.65, while the Dow Jones industrial average slid 163.39 points, or 0.9 percent, to 17,568.53. The Nasdaq composite lost 57.78 points, or 1.1 percent, to 5,088.63.
Stocks kicked off the week on a strong note, driving the Nasdaq to its latest record high and bringing the S&P 500 close to a milestone of its own. But it's been downhill since then. The Dow fell into negative territory for the year on Thursday. As of Friday, it was down 1.4 percent for 2015.
The tech-focused Nasdaq remains the best-performing index for the year. It's up 7.4 percent, compared with 1 percent for the S&P 500.
Trading got off to an uneven start on Friday. The major indexes were all down by midmorning as traders sized up the latest corporate earnings.
Biotechnology company Biogen and pharmaceutical company AbbVie both reported a better-than-expected second-quarter profits, but their revenue fell short of Wall Street forecasts. Biogen plunged $85.02, or 22.1 percent, to $300.03. AbbVie declined $2.44, or 3.5 percent, to $68.08.
Capital One Financial, which announced quarterly results a day earlier that failed to live up to financial analysts' expectations, sank 13.1 percent. The stock ended down $11.91 at $78.86.
Even a dash of merger news, which often puts investors in a buying mood, failed to impress.
Anthem agreed to buy rival Cigna for $48 billion in a deal that would create the nation's largest health insurer by enrollment, covering about 53 million U.S patients. Anthem fell $4.35, or 2.8 percent, to $150.86, while Cigna lost $8.64, or 5.6 percent, to $145.72.
Investors did welcome Amazon's latest quarterly report card. The e-commerce pioneer announced a surprise profit late Thursday. The stock vaulted $47.24, or 9.8 percent, to $529.42.
Nine of the 10 sectors in the S&P 500 ended lower. Health care stocks fell the most, 2.5 percent. Utilities edged higher.
Of the 187 companies in the S&P 500 that have reported earnings so far, about 72 percent of them have delivered results that beat Wall Street estimates, according to S&P Capital IQ. That's better than the historical average of 66 percent.
"Generally most companies are seeing modest growth, but nothing to write home about," said Brad Sorensen, managing director of market and sector analysis at Schwab Center for Financial Research.
Another 163 companies, or a third of the S&P 500, are due to report earnings next week, including Facebook, Twitter and Exxon Mobil.
In energy trading, the price of oil continued to slide Friday as the number of rigs drilling for oil in the U.S. rose. Benchmark U.S. crude fell 31 cents to close at $48.14 a barrel in New York. Crude fell 5 percent for the week, and is down 19 percent for the month. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 65 cents Friday to close at $54.62 a barrel in London.
In other futures trading, wholesale gasoline fell 2.4 cents to close at $1.828 a gallon, while heating oil fell 2.5 cents to close at $1.630 a gallon. Natural gas fell 4 cents to close at $2.776 per 1,000 cubic feet.
Precious and industrial metals futures closed broadly lower. Gold lost $8.60 to $1,085.50 an ounce, silver gave up 21 cents to finish at $14.48 an ounce and copper edged down less than a penny to $2.38 a pound.
The price of U.S. government bonds rose slightly. The yield on the 10-year Treasury note fell to 2.26 percent from 2.27 percent late Thursday.
0625
The NYSE DOW closed LOWER ▼ -163.39 points or ▼ -0.92% on Friday, 24 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,568.53 ▼ -163.39 ▼ -0.92%
Nasdaq____ 5,088.63 ▼ -57.78 ▼ -1.12%
S&P_500___ 2,079.65 ▼ -22.50 ▼ -1.07%
30_Yr_Bond____ 2.97 ▼ -0.01 ▼ -0.27%
NYSE Volume 3,870,016,500
Nasdaq Volume 2,008,801,000
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,579.81 ▼ -75.20 ▼ -1.13%
DAX_____ 11,347.45 ▼ -164.66 ▼ -1.43%
CAC_40__ 5,057.36 ▼ -29.38 ▼ -0.58%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,556.80 ▼ -24.50 ▼ -0.44%
Shanghai_Comp 4,070.91 ▼ -53.01 ▼ -1.29%
Taiwan_Weight 8,767.86 ▼ -23.26 ▼ -0.26%
Nikkei_225___ 20,544.53 ▼ -139.42 ▼ -0.67%
Hang_Seng.__ 25,128.51 ▼ -270.34 ▼ -1.06%
Strait_Times.__ 3,352.65 ▼ -3.72 ▼ -0.11%
NZX_50_Index_ 5,894.18 ▼ -7.12 ▼ -0.12%
http://finance.yahoo.com/news/us-stocks-sink-p-500-200855248.html
US stocks sink; S&P 500 index notches another losing week
Poor company earnings send US stocks lower, giving the S&P 500 index another weekly loss
Associated Press By Alex Veiga, AP Business Writer
The U.S. stock market capped a four-day losing streak with its biggest drop of the week.
Disappointing quarterly results and outlooks from several companies pulled the major stock indexes sharply lower on Friday. New signs pointing to a slowing of China's economy also added to investor jitters, bringing down the price of oil and other commodities.
While corporate profits have mostly exceeded Wall Street's expectations so far this earnings season, investors have grown uneasy as many companies provided cautious outlooks or weak sales.
"The revenue numbers have been very shaky," said JJ Kinahan, TD Ameritrade's chief strategist. "After next week, we'll have a much better picture overall how the earnings season was. But right now, that's the theme that I'm seeing, and it's not a healthy one."
The mixed company earnings increasingly weighed on stocks as the week wore on. The Standard & Poor's 500 index has now lost ground four out of the last five weeks.
The S&P 500 ended the day down 22.50 points, or 1.1 percent, to 2,079.65, while the Dow Jones industrial average slid 163.39 points, or 0.9 percent, to 17,568.53. The Nasdaq composite lost 57.78 points, or 1.1 percent, to 5,088.63.
Stocks kicked off the week on a strong note, driving the Nasdaq to its latest record high and bringing the S&P 500 close to a milestone of its own. But it's been downhill since then. The Dow fell into negative territory for the year on Thursday. As of Friday, it was down 1.4 percent for 2015.
The tech-focused Nasdaq remains the best-performing index for the year. It's up 7.4 percent, compared with 1 percent for the S&P 500.
Trading got off to an uneven start on Friday. The major indexes were all down by midmorning as traders sized up the latest corporate earnings.
Biotechnology company Biogen and pharmaceutical company AbbVie both reported a better-than-expected second-quarter profits, but their revenue fell short of Wall Street forecasts. Biogen plunged $85.02, or 22.1 percent, to $300.03. AbbVie declined $2.44, or 3.5 percent, to $68.08.
Capital One Financial, which announced quarterly results a day earlier that failed to live up to financial analysts' expectations, sank 13.1 percent. The stock ended down $11.91 at $78.86.
Even a dash of merger news, which often puts investors in a buying mood, failed to impress.
Anthem agreed to buy rival Cigna for $48 billion in a deal that would create the nation's largest health insurer by enrollment, covering about 53 million U.S patients. Anthem fell $4.35, or 2.8 percent, to $150.86, while Cigna lost $8.64, or 5.6 percent, to $145.72.
Investors did welcome Amazon's latest quarterly report card. The e-commerce pioneer announced a surprise profit late Thursday. The stock vaulted $47.24, or 9.8 percent, to $529.42.
Nine of the 10 sectors in the S&P 500 ended lower. Health care stocks fell the most, 2.5 percent. Utilities edged higher.
Of the 187 companies in the S&P 500 that have reported earnings so far, about 72 percent of them have delivered results that beat Wall Street estimates, according to S&P Capital IQ. That's better than the historical average of 66 percent.
"Generally most companies are seeing modest growth, but nothing to write home about," said Brad Sorensen, managing director of market and sector analysis at Schwab Center for Financial Research.
Another 163 companies, or a third of the S&P 500, are due to report earnings next week, including Facebook, Twitter and Exxon Mobil.
In energy trading, the price of oil continued to slide Friday as the number of rigs drilling for oil in the U.S. rose. Benchmark U.S. crude fell 31 cents to close at $48.14 a barrel in New York. Crude fell 5 percent for the week, and is down 19 percent for the month. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 65 cents Friday to close at $54.62 a barrel in London.
In other futures trading, wholesale gasoline fell 2.4 cents to close at $1.828 a gallon, while heating oil fell 2.5 cents to close at $1.630 a gallon. Natural gas fell 4 cents to close at $2.776 per 1,000 cubic feet.
Precious and industrial metals futures closed broadly lower. Gold lost $8.60 to $1,085.50 an ounce, silver gave up 21 cents to finish at $14.48 an ounce and copper edged down less than a penny to $2.38 a pound.
The price of U.S. government bonds rose slightly. The yield on the 10-year Treasury note fell to 2.26 percent from 2.27 percent late Thursday.
0625
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bigdog
Retired many years ago
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Source: http://finance.yahoo.com
The NYSE DOW closed LOWER ▼ -127.94 points or ▼ -0.73% on Monday, 27 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,440.59 ▼ -127.94 ▼ -0.73%
Nasdaq____ 5,039.78 ▼ -48.85 ▼ -0.96%
S&P_500___ 2,067.64 ▼ -12.01 ▼ -0.58%
30_Yr_Bond____ 2.95 ▼ -0.03 ▼ -0.84%
NYSE Volume 3,836,939,750
Nasdaq Volume 1,829,763,630
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,505.13 ▼ -74.68 ▼ -1.13%
DAX_____ 11,056.40 ▼ -291.05 ▼ -2.56%
CAC_40__ 4,927.60 ▼ -129.76 ▼ -2.57%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,579.20 ▲ 22.40 ▲ 0.40%
Shanghai_Comp 3,725.56 ▼ -345.35 ▼ -8.48%
Taiwan_Weight 8,556.68 ▼ -23.26 ▼ -0.26%
Nikkei_225___ 20,350.10 ▼ -194.43 ▼ -0.95%
Hang_Seng.__ 24,351.96 ▼ -776.55 ▼ -3.09%
Strait_Times.__ 3,313.42 ▼ -211.18 ▼ -2.41%
NZX_50_Index_ 5,872.06 ▼ -22.12 ▼ -0.38%
http://finance.yahoo.com/news/plunge-chinese-shares-helps-send-210326042.html
Plunge in Chinese shares helps send global markets lower
Huge drop in Chinese stocks helps send indexes lower in US and Europe; Bond, gold prices rise
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- The worst drop in China's stock market in eight years helped drag down other markets around the world Monday.
The tough day follows declines in U.S. markets last week, when the three major indexes fell more than 2 percent as a number of big companies reported disappointing earnings.
Faced with a drop in stock prices in Asia, Europe and the U.S., investors moved into traditional safe havens. The yield on the 10-year U.S. Treasury note fell to 2.22 percent from 2.26 percent on Friday. The price of gold rose 1 percent.
Dividend-heavy stocks, like utilities, also gained. Investors favor high-dividend companies during times of volatility because they provide a reliable income stream.
"There remain very few buyers out there and there are some growing concerns that we're looking at a slowdown in global economic growth," said Sean Lynch, co-head of global equity strategy with the Wells Fargo Investment Institute.
The Dow Jones industrial average lost 127.94 points, or 0.7 percent, to 17,440.59. The Standard & Poor's 500 index lost 12.01 points, or 0.6 percent, to 2,067.64 and the Nasdaq composite lost 48.85 points, or 1 percent, to 5,039.78.
It was the fifth straight loss for the U.S. market. The S&P 500 is still up about half a percent for the year. The Dow is down 2 percent and the tech-heavy Nasdaq is up 6 percent.
ASIA
The worries for investors this week started with an 8.5 percentage point plunge on the Shanghai market, the biggest one-day decline since February 2007. It was the latest big drop in the Chinese stock market, which has slumped since early June.
Some analysts said Monday's dive was set off by brokerages restricting credit used to finance stock purchases, also known as margin trading. Chinese authorities took aggressive steps to stabilize the market after it tumbled last month.
"The continuous check on margin trading by security companies has triggered today's sell-off," said Xu Xiaoyu, a market strategist at China Investment Securities. "In addition, the recent economic data shows it still takes time for the economy to recover from its sluggishness."
The precipitous rise and fall of the Chinese stock market has been one of the bigger topics of conversation for investors this summer.
By the time China's Shanghai benchmark index peaked in early June, it was up 150 percent in the last year. The gains were originally driven by commentary in state media that called the stock market undervalued. That led investors to believe the government would ensure that stock prices gained.
When the Chinese stock market started falling, many investors felt the decline would bring a much-needed correction to that country's stock market bubble. But many small Chinese investors jumped into the market near its peak and are now sitting on significant losses.
There are now concerns the 30 percent decline in the stock market is starting to do damage to China's economy. A closely watched Chinese purchasing manager's index fell to a 15-month low over the weekend, with analysts blaming the drop partly on the market.
"Rightly or wrongly, people are concerned about a global economic slowdown," said James Liu, a global market strategist with JPMorgan Funds.
The Chinese sell-off ruffled other markets in Asia, though the scant amount of foreign investment in Chinese shares limits the ripple effects outside of Hong Kong, a semiautonomous Chinese territory that is also a financial center.
Hong Kong's Hang Seng shed 3.1 percent and Japan's Nikkei 225 dropped 1 percent. South Korea's Kospi fell 0.4 percent.
EUROPE and the U.S.
In Europe, which has already had a volatile summer because of worries about Greece's precarious finances, also fell broadly on Monday.
The Euro STOXX 50 index, the European equivalent of the Dow 30, fell 2.4 percent. Germany's DAX lost 2.6 percent, France's CAC-40 lost 2.6 percent and the U.K.'s FTSE 100 lost 1.1 percent.
Elsewhere, traders were turning their attention to the U.S. Federal Reserve as they try to assess when the central bank will start raising interest rates. The market appears split between those who think it will happen in September or December. The central bank will also meet this week, but few expect it to begin raising rates.
Traders also have the busiest week for second-quarter earnings reports this week, with 174 members of the S&P 500 as well as six members of the Dow average reporting their results.
BIG PHARMA GETS BIGGER
Generic drug giant Teva Pharmaceuticals jumped $8.76, or 14 percent, to $70.61 after it announced it would buy Allergan's generic drug division for $40.5 billion in cash and stock. Allergan's shares also rose, up $19.01, or 6 percent, to $327.19.
CURRENCIES AND COMMODITIES
The price of oil fell to the lowest point since March as another steep drop in Chinese stocks caused concerns that demand from the world's second biggest oil consumer would slip. Benchmark U.S. crude fell 75 cents to close at $47.39 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.15 to close at $53.47 a barrel in London.
In other futures trading on the New York Mercantile Exchange:
”” Wholesale gasoline fell 0.8 cent to close at $1.820 a gallon.
”” Heating oil fell 3.4 cents to close at $1.596 a gallon.
”” Natural gas rose 1.3 cents to close at $2.789 per 1,000 cubic feet.
In currency trading, the euro strengthened 0.9 percent to $1.1092 while the dollar fell 0.4 percent to 123.28 yen.
The NYSE DOW closed LOWER ▼ -127.94 points or ▼ -0.73% on Monday, 27 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,440.59 ▼ -127.94 ▼ -0.73%
Nasdaq____ 5,039.78 ▼ -48.85 ▼ -0.96%
S&P_500___ 2,067.64 ▼ -12.01 ▼ -0.58%
30_Yr_Bond____ 2.95 ▼ -0.03 ▼ -0.84%
NYSE Volume 3,836,939,750
Nasdaq Volume 1,829,763,630
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,505.13 ▼ -74.68 ▼ -1.13%
DAX_____ 11,056.40 ▼ -291.05 ▼ -2.56%
CAC_40__ 4,927.60 ▼ -129.76 ▼ -2.57%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,579.20 ▲ 22.40 ▲ 0.40%
Shanghai_Comp 3,725.56 ▼ -345.35 ▼ -8.48%
Taiwan_Weight 8,556.68 ▼ -23.26 ▼ -0.26%
Nikkei_225___ 20,350.10 ▼ -194.43 ▼ -0.95%
Hang_Seng.__ 24,351.96 ▼ -776.55 ▼ -3.09%
Strait_Times.__ 3,313.42 ▼ -211.18 ▼ -2.41%
NZX_50_Index_ 5,872.06 ▼ -22.12 ▼ -0.38%
http://finance.yahoo.com/news/plunge-chinese-shares-helps-send-210326042.html
Plunge in Chinese shares helps send global markets lower
Huge drop in Chinese stocks helps send indexes lower in US and Europe; Bond, gold prices rise
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- The worst drop in China's stock market in eight years helped drag down other markets around the world Monday.
The tough day follows declines in U.S. markets last week, when the three major indexes fell more than 2 percent as a number of big companies reported disappointing earnings.
Faced with a drop in stock prices in Asia, Europe and the U.S., investors moved into traditional safe havens. The yield on the 10-year U.S. Treasury note fell to 2.22 percent from 2.26 percent on Friday. The price of gold rose 1 percent.
Dividend-heavy stocks, like utilities, also gained. Investors favor high-dividend companies during times of volatility because they provide a reliable income stream.
"There remain very few buyers out there and there are some growing concerns that we're looking at a slowdown in global economic growth," said Sean Lynch, co-head of global equity strategy with the Wells Fargo Investment Institute.
The Dow Jones industrial average lost 127.94 points, or 0.7 percent, to 17,440.59. The Standard & Poor's 500 index lost 12.01 points, or 0.6 percent, to 2,067.64 and the Nasdaq composite lost 48.85 points, or 1 percent, to 5,039.78.
It was the fifth straight loss for the U.S. market. The S&P 500 is still up about half a percent for the year. The Dow is down 2 percent and the tech-heavy Nasdaq is up 6 percent.
ASIA
The worries for investors this week started with an 8.5 percentage point plunge on the Shanghai market, the biggest one-day decline since February 2007. It was the latest big drop in the Chinese stock market, which has slumped since early June.
Some analysts said Monday's dive was set off by brokerages restricting credit used to finance stock purchases, also known as margin trading. Chinese authorities took aggressive steps to stabilize the market after it tumbled last month.
"The continuous check on margin trading by security companies has triggered today's sell-off," said Xu Xiaoyu, a market strategist at China Investment Securities. "In addition, the recent economic data shows it still takes time for the economy to recover from its sluggishness."
The precipitous rise and fall of the Chinese stock market has been one of the bigger topics of conversation for investors this summer.
By the time China's Shanghai benchmark index peaked in early June, it was up 150 percent in the last year. The gains were originally driven by commentary in state media that called the stock market undervalued. That led investors to believe the government would ensure that stock prices gained.
When the Chinese stock market started falling, many investors felt the decline would bring a much-needed correction to that country's stock market bubble. But many small Chinese investors jumped into the market near its peak and are now sitting on significant losses.
There are now concerns the 30 percent decline in the stock market is starting to do damage to China's economy. A closely watched Chinese purchasing manager's index fell to a 15-month low over the weekend, with analysts blaming the drop partly on the market.
"Rightly or wrongly, people are concerned about a global economic slowdown," said James Liu, a global market strategist with JPMorgan Funds.
The Chinese sell-off ruffled other markets in Asia, though the scant amount of foreign investment in Chinese shares limits the ripple effects outside of Hong Kong, a semiautonomous Chinese territory that is also a financial center.
Hong Kong's Hang Seng shed 3.1 percent and Japan's Nikkei 225 dropped 1 percent. South Korea's Kospi fell 0.4 percent.
EUROPE and the U.S.
In Europe, which has already had a volatile summer because of worries about Greece's precarious finances, also fell broadly on Monday.
The Euro STOXX 50 index, the European equivalent of the Dow 30, fell 2.4 percent. Germany's DAX lost 2.6 percent, France's CAC-40 lost 2.6 percent and the U.K.'s FTSE 100 lost 1.1 percent.
Elsewhere, traders were turning their attention to the U.S. Federal Reserve as they try to assess when the central bank will start raising interest rates. The market appears split between those who think it will happen in September or December. The central bank will also meet this week, but few expect it to begin raising rates.
Traders also have the busiest week for second-quarter earnings reports this week, with 174 members of the S&P 500 as well as six members of the Dow average reporting their results.
BIG PHARMA GETS BIGGER
Generic drug giant Teva Pharmaceuticals jumped $8.76, or 14 percent, to $70.61 after it announced it would buy Allergan's generic drug division for $40.5 billion in cash and stock. Allergan's shares also rose, up $19.01, or 6 percent, to $327.19.
CURRENCIES AND COMMODITIES
The price of oil fell to the lowest point since March as another steep drop in Chinese stocks caused concerns that demand from the world's second biggest oil consumer would slip. Benchmark U.S. crude fell 75 cents to close at $47.39 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.15 to close at $53.47 a barrel in London.
In other futures trading on the New York Mercantile Exchange:
”” Wholesale gasoline fell 0.8 cent to close at $1.820 a gallon.
”” Heating oil fell 3.4 cents to close at $1.596 a gallon.
”” Natural gas rose 1.3 cents to close at $2.789 per 1,000 cubic feet.
In currency trading, the euro strengthened 0.9 percent to $1.1092 while the dollar fell 0.4 percent to 123.28 yen.
Attachments
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
- Reactions
- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed HIGHER ▲ 189.68 points or ▲ 1.09% on Tuesday, 28 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,630.27 ▲ 189.68 ▲ 1.09%
Nasdaq____ 5,089.21 ▲ 49.43 ▲ 0.98%
S&P_500___ 2,093.25 ▲ 25.61 ▲ 1.24%
30_Yr_Bond____ 2.95 ▼ -0.03 ▼ -0.84%
NYSE Volume 2,022,850,500
Nasdaq Volume 1,829,763,630
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,555.28 ▲ 50.15 ▲ 0.77%
DAX_____ 11,173.91 ▲ 117.51 ▲ 1.06%
CAC_40__ 4,977.32 ▲ 49.72 ▲ 1.01%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,571.00 ▼ -8.20 ▼ -0.15%
Shanghai_Comp 3,663.00 ▼ -62.65 ▼ -1.68%
Taiwan_Weight 8,556.68 ▼ -25.81 ▲ 0.30%
Nikkei_225___ 20,328.89 ▼ -21.21 ▼ -0.10%
Hang_Seng.__ 24,503.94 ▲ 151.98 ▲ 0.62%
Strait_Times.__ 3,281.09 ▼ -32.33 ▼ -0.98%
NZX_50_Index_ 5,848.39 ▼ -23.67 ▼ -0.40%
http://finance.yahoo.com/news/stocks-end-skid-strong-earnings-212141506.html
Stocks end skid on strong earnings, more stability in China
Strong US company earnings, smaller decline in China help stocks end 5-day losing streak
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- Global stocks steadied and U.S. markets marched higher Tuesday, as investors were encouraged by strong results from UPS, Ford and other big companies.
The recovery comes after five straight days of losses for U.S. indexes. It's not uncommon for stocks to reverse course after several days in one direction, and investors say the market is still lacking the foundation for an extended rally.
"We just don't see any significant catalyst that will move this market higher, even after last week's declines," said Kristina Hooper, global market strategist with Allianz Global Investors.
The Dow Jones industrial average rose 189.68 points, or 1.1 percent, to 17,630.27, ending near its high for the day. The Standard & Poor's 500 index rose 25.61 points, or 1.2 percent, to 2,093.25 and the Nasdaq composite rose 49.43 points, or 1 percent, to 5,089.21.
A dose of corporate earnings gains helped drive the advance Tuesday.
UPS rose $4.82, or 5.1 percent, to $99.94. The company saw profits jump from a year ago, helped by stronger business overseas. UPS is sometimes seen a proxy for the global economy because of its huge role in delivering goods all over the world on a daily basis.
Ford rose 28 cents, or 1.9 percent, to $14.83. The carmaker said profits jumped 44 percent in the second quarter, helped by higher global sales and higher prices for premium trucks and SUVs.
Ford and UPS are just a few of the more than 170 companies in the S&P 500 that report their results this week.
Global markets were a little less stressed Tuesday.
The Shanghai Composite Index closed down 1.7 percent, but had been trading down as much as 4 percent earlier in the day. Chinese stocks plunged 8.5 percent on Monday, the biggest drop since February 2007, despite concerted efforts by the Chinese government to stem the market's slide. European stocks rose roughly 1 percent.
Traders were turning their attention to the U.S. Federal Reserve as they try to assess when interest rates will rise. Fed policymakers started a two-day meeting on Tuesday, but few central bank watchers expect a rate hike. Many expect the Fed to begin its next cycle of rate increases in September or December. Ultra-low interest rates have been a boon for stock and bond markets, and many questions remain about how markets will react to the first increase since the 2008 financial crisis.
In other markets, the price of U.S. crude rose for the first time in five days on expectations that supply reports this week could show a decline. Brent crude, a benchmark for international oils used by many U.S. refineries, continued to fall, however. Benchmark U.S. crude rose 59 cents to close at $47.98 a barrel in New York. Brent fell 17 to close at $53.30 a barrel in London.
In other futures trading on the New York Mercantile Exchange:
”” Wholesale gasoline fell 1.7 cents to close at $1.803 a gallon.
”” Heating oil rose 0.8 cents to close at $1.604 a gallon.
”” Natural gas rose 3.2 cents to close at $2.821 per 1,000 cubic feet.
U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.25 percent from 2.22 percent. The dollar rose to 123.58 Japanese yen from 123.27 yen on Monday. The euro fell to $1.1056 from $1.1087.
Precious and industrial metals futures ended mixed. Gold slipped 20 cents to $1,096.20 an ounce, silver rose four cents to $14.63 an ounce and copper gained five cents to $2.40 a pound.
The NYSE DOW closed HIGHER ▲ 189.68 points or ▲ 1.09% on Tuesday, 28 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,630.27 ▲ 189.68 ▲ 1.09%
Nasdaq____ 5,089.21 ▲ 49.43 ▲ 0.98%
S&P_500___ 2,093.25 ▲ 25.61 ▲ 1.24%
30_Yr_Bond____ 2.95 ▼ -0.03 ▼ -0.84%
NYSE Volume 2,022,850,500
Nasdaq Volume 1,829,763,630
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,555.28 ▲ 50.15 ▲ 0.77%
DAX_____ 11,173.91 ▲ 117.51 ▲ 1.06%
CAC_40__ 4,977.32 ▲ 49.72 ▲ 1.01%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,571.00 ▼ -8.20 ▼ -0.15%
Shanghai_Comp 3,663.00 ▼ -62.65 ▼ -1.68%
Taiwan_Weight 8,556.68 ▼ -25.81 ▲ 0.30%
Nikkei_225___ 20,328.89 ▼ -21.21 ▼ -0.10%
Hang_Seng.__ 24,503.94 ▲ 151.98 ▲ 0.62%
Strait_Times.__ 3,281.09 ▼ -32.33 ▼ -0.98%
NZX_50_Index_ 5,848.39 ▼ -23.67 ▼ -0.40%
http://finance.yahoo.com/news/stocks-end-skid-strong-earnings-212141506.html
Stocks end skid on strong earnings, more stability in China
Strong US company earnings, smaller decline in China help stocks end 5-day losing streak
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- Global stocks steadied and U.S. markets marched higher Tuesday, as investors were encouraged by strong results from UPS, Ford and other big companies.
The recovery comes after five straight days of losses for U.S. indexes. It's not uncommon for stocks to reverse course after several days in one direction, and investors say the market is still lacking the foundation for an extended rally.
"We just don't see any significant catalyst that will move this market higher, even after last week's declines," said Kristina Hooper, global market strategist with Allianz Global Investors.
The Dow Jones industrial average rose 189.68 points, or 1.1 percent, to 17,630.27, ending near its high for the day. The Standard & Poor's 500 index rose 25.61 points, or 1.2 percent, to 2,093.25 and the Nasdaq composite rose 49.43 points, or 1 percent, to 5,089.21.
A dose of corporate earnings gains helped drive the advance Tuesday.
UPS rose $4.82, or 5.1 percent, to $99.94. The company saw profits jump from a year ago, helped by stronger business overseas. UPS is sometimes seen a proxy for the global economy because of its huge role in delivering goods all over the world on a daily basis.
Ford rose 28 cents, or 1.9 percent, to $14.83. The carmaker said profits jumped 44 percent in the second quarter, helped by higher global sales and higher prices for premium trucks and SUVs.
Ford and UPS are just a few of the more than 170 companies in the S&P 500 that report their results this week.
Global markets were a little less stressed Tuesday.
The Shanghai Composite Index closed down 1.7 percent, but had been trading down as much as 4 percent earlier in the day. Chinese stocks plunged 8.5 percent on Monday, the biggest drop since February 2007, despite concerted efforts by the Chinese government to stem the market's slide. European stocks rose roughly 1 percent.
Traders were turning their attention to the U.S. Federal Reserve as they try to assess when interest rates will rise. Fed policymakers started a two-day meeting on Tuesday, but few central bank watchers expect a rate hike. Many expect the Fed to begin its next cycle of rate increases in September or December. Ultra-low interest rates have been a boon for stock and bond markets, and many questions remain about how markets will react to the first increase since the 2008 financial crisis.
In other markets, the price of U.S. crude rose for the first time in five days on expectations that supply reports this week could show a decline. Brent crude, a benchmark for international oils used by many U.S. refineries, continued to fall, however. Benchmark U.S. crude rose 59 cents to close at $47.98 a barrel in New York. Brent fell 17 to close at $53.30 a barrel in London.
In other futures trading on the New York Mercantile Exchange:
”” Wholesale gasoline fell 1.7 cents to close at $1.803 a gallon.
”” Heating oil rose 0.8 cents to close at $1.604 a gallon.
”” Natural gas rose 3.2 cents to close at $2.821 per 1,000 cubic feet.
U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.25 percent from 2.22 percent. The dollar rose to 123.58 Japanese yen from 123.27 yen on Monday. The euro fell to $1.1056 from $1.1087.
Precious and industrial metals futures ended mixed. Gold slipped 20 cents to $1,096.20 an ounce, silver rose four cents to $14.63 an ounce and copper gained five cents to $2.40 a pound.
Attachments
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
- Reactions
- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed HIGHER ▲ 121.12 points or ▲ 0.69% on Wednesday, 29 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,751.39 ▲ 121.12 ▲ 0.69%
Nasdaq____ 5,111.73 ▲ 22.53 ▲ 0.44%
S&P_500___ 2,108.57 ▲ 15.32 ▲ 0.73%
30_Yr_Bond____ 2.99 ▲ 0.03 ▲ 0.84%
NYSE Volume 4,040,451,250
Nasdaq Volume 1,893,631,380
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,631.00 ▲ 75.72 ▲ 1.16%
DAX_____ 11,211.85 ▲ 37.94 ▲ 0.34%
CAC_40__ 5,017.44 ▲ 40.12 ▲ 0.81%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,609.60 ▲ 38.60 ▲ 0.69%
Shanghai_Comp 3,789.17 ▲ 126.17 ▲ 3.44%
Taiwan_Weight 8,563.48 ▼ -19.01 ▼ -0.22%
Nikkei_225___ 20,302.91 ▼ -25.98 ▼ -0.13%
Hang_Seng.__ 24,619.45 ▲ 115.51 ▲ 0.47%
Strait_Times.__ 3,284.00 ▲ 2.91 ▲ 0.09%
NZX_50_Index_ 5,870.77 ▲ 22.38 ▲ 0.38%
http://finance.yahoo.com/news/stocks-end-higher-fed-keeps-201253700.html
Stocks end higher after Fed keeps interest rates unchanged
Stocks end higher after Fed holds interest rates close to zero; Northrop jumps on earnings
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- U.S. stocks rose on Wednesday after Federal Reserve policymakers voted to keep interest rates unchanged and gave no indication that a rate rise was imminent. A modest rebound in Chinese stocks also helped push the market higher.
The Dow Jones industrial average rose 121.12 points, or 0.7 percent, to 17,751.39. The Standard & Poor's 500 index rose 15.32 points, or 0.7 percent, to 2,108.57 and the Nasdaq composite rose 22.53 points, or 0.4 percent, to 5,111.73.
The Fed said the U.S. economy continues to improve in numerous aspects, but signaled that it wants to see further economic gains and higher inflation before raising rates. Many investors expect the Fed will still lift rates in September or December, but its statement gave no timing for the raise.
Low interest rates have been good for stock investors, helping fuel a bull market that has lasted more than six years.
"Yeah, the economy is improving, but they are not really saying that the economy is taking off here," said Tom di Galoma, head of rates trading at ED&F Man Capital. "If the Fed doesn't raise rates in September, I think we're looking at some time mid next year."
There are several reasons why the Fed could stand pat on interest rates, from the recent distress in China's stock market to the falling prices of commodities this year, which will help keep a lid on inflation.
Bond investors seemed to agree with the idea that the Fed was in no rush to raise rates. Bonds rose, pushing the benchmark 10-year Treasury note traded at a yield of 2.27 compared with the nearly 2.30 percent before the Fed statement.
Investors had a second day of relative calm in the Chinese stock market. China's Shanghai Composite Index rebounded 3.4 percent to close at 3,969.40 after flitting between gains and losses for most of the day. Alarm over the sharp fall in Chinese shares has abated somewhat as the Shanghai index has steadied following Monday's 8.5 percent dive.
A strong batch of corporate earnings also helped lift the market. Gilead Sciences rose $2.64, or 2.3 percent, to $115.71. The company's profits jumped 23 percent from a year ago, helped by its new blockbuster hepatitis C medicine Harvoni. The company also raised its 2015 forecasts.
Northrop Grumman led defense companies higher after it posted a stronger-than-expected profit in the second quarter and raised its outlook for the year. Northrop's stock jumped $10.10, or 6.2 percent, to $173.44, its biggest one-day gain in at least five years.
In other markets, the price of U.S. crude rose Wednesday after the government reported a surprise drop in oil inventories and oil production. Benchmark U.S. crude rose 81 cents to close at $48.79 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 8 cents to close at $53.38 in London.
In other futures trading on the NYMEX, wholesale gasoline rose 1.9 cents to close at $1.822 a gallon. Heating oil fell 0.6 cent to close at $1.598 a gallon. Natural gas rose 6.5 cents to close at $2.886 per 1,000 cubic feet.
The euro fell to $1.0989 from $1.1068. The dollar rose to 123.94 Japanese yen from 123.57 yen.
Precious and industrial metals futures ended mixed. Gold fell $3.60 to $1,092.60 an ounce, silver rose 10 cents to $14.73 an ounce and copper edged up less than a penny to $2.41 a pound.
The NYSE DOW closed HIGHER ▲ 121.12 points or ▲ 0.69% on Wednesday, 29 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,751.39 ▲ 121.12 ▲ 0.69%
Nasdaq____ 5,111.73 ▲ 22.53 ▲ 0.44%
S&P_500___ 2,108.57 ▲ 15.32 ▲ 0.73%
30_Yr_Bond____ 2.99 ▲ 0.03 ▲ 0.84%
NYSE Volume 4,040,451,250
Nasdaq Volume 1,893,631,380
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,631.00 ▲ 75.72 ▲ 1.16%
DAX_____ 11,211.85 ▲ 37.94 ▲ 0.34%
CAC_40__ 5,017.44 ▲ 40.12 ▲ 0.81%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,609.60 ▲ 38.60 ▲ 0.69%
Shanghai_Comp 3,789.17 ▲ 126.17 ▲ 3.44%
Taiwan_Weight 8,563.48 ▼ -19.01 ▼ -0.22%
Nikkei_225___ 20,302.91 ▼ -25.98 ▼ -0.13%
Hang_Seng.__ 24,619.45 ▲ 115.51 ▲ 0.47%
Strait_Times.__ 3,284.00 ▲ 2.91 ▲ 0.09%
NZX_50_Index_ 5,870.77 ▲ 22.38 ▲ 0.38%
http://finance.yahoo.com/news/stocks-end-higher-fed-keeps-201253700.html
Stocks end higher after Fed keeps interest rates unchanged
Stocks end higher after Fed holds interest rates close to zero; Northrop jumps on earnings
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- U.S. stocks rose on Wednesday after Federal Reserve policymakers voted to keep interest rates unchanged and gave no indication that a rate rise was imminent. A modest rebound in Chinese stocks also helped push the market higher.
The Dow Jones industrial average rose 121.12 points, or 0.7 percent, to 17,751.39. The Standard & Poor's 500 index rose 15.32 points, or 0.7 percent, to 2,108.57 and the Nasdaq composite rose 22.53 points, or 0.4 percent, to 5,111.73.
The Fed said the U.S. economy continues to improve in numerous aspects, but signaled that it wants to see further economic gains and higher inflation before raising rates. Many investors expect the Fed will still lift rates in September or December, but its statement gave no timing for the raise.
Low interest rates have been good for stock investors, helping fuel a bull market that has lasted more than six years.
"Yeah, the economy is improving, but they are not really saying that the economy is taking off here," said Tom di Galoma, head of rates trading at ED&F Man Capital. "If the Fed doesn't raise rates in September, I think we're looking at some time mid next year."
There are several reasons why the Fed could stand pat on interest rates, from the recent distress in China's stock market to the falling prices of commodities this year, which will help keep a lid on inflation.
Bond investors seemed to agree with the idea that the Fed was in no rush to raise rates. Bonds rose, pushing the benchmark 10-year Treasury note traded at a yield of 2.27 compared with the nearly 2.30 percent before the Fed statement.
Investors had a second day of relative calm in the Chinese stock market. China's Shanghai Composite Index rebounded 3.4 percent to close at 3,969.40 after flitting between gains and losses for most of the day. Alarm over the sharp fall in Chinese shares has abated somewhat as the Shanghai index has steadied following Monday's 8.5 percent dive.
A strong batch of corporate earnings also helped lift the market. Gilead Sciences rose $2.64, or 2.3 percent, to $115.71. The company's profits jumped 23 percent from a year ago, helped by its new blockbuster hepatitis C medicine Harvoni. The company also raised its 2015 forecasts.
Northrop Grumman led defense companies higher after it posted a stronger-than-expected profit in the second quarter and raised its outlook for the year. Northrop's stock jumped $10.10, or 6.2 percent, to $173.44, its biggest one-day gain in at least five years.
In other markets, the price of U.S. crude rose Wednesday after the government reported a surprise drop in oil inventories and oil production. Benchmark U.S. crude rose 81 cents to close at $48.79 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 8 cents to close at $53.38 in London.
In other futures trading on the NYMEX, wholesale gasoline rose 1.9 cents to close at $1.822 a gallon. Heating oil fell 0.6 cent to close at $1.598 a gallon. Natural gas rose 6.5 cents to close at $2.886 per 1,000 cubic feet.
The euro fell to $1.0989 from $1.1068. The dollar rose to 123.94 Japanese yen from 123.57 yen.
Precious and industrial metals futures ended mixed. Gold fell $3.60 to $1,092.60 an ounce, silver rose 10 cents to $14.73 an ounce and copper edged up less than a penny to $2.41 a pound.
Attachments
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
- Reactions
- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed LOWER ▼ -5.41 points or ▼ -0.03% on Thursday, 30 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,745.98 ▼ -5.41 ▼ -0.03%
Nasdaq____ 5,128.79 ▲ 17.05 ▲ 0.33%
S&P_500___ 2,108.63 ▲ 0.06 ▲ 0.00%
30_Yr_Bond____ 2.95 ▼ -0.03 ▼ -1.14%
NYSE Volume 3,578,767,250
Nasdaq Volume 1,898,620,750
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,668.87 ▲ 37.87 ▲ 0.57%
DAX_____ 11,257.15 ▲ 45.30 ▲ 0.40%
CAC_40__ 5,046.42 ▲ 28.98 ▲ 0.58%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,653.10 ▲ 43.50 ▲ 0.78%
Shanghai_Comp 3,705.77 ▼ -83.40 ▼ -2.20%
Taiwan_Weight 8,651.49 ▲ 88.01 ▲ 1.03%
Nikkei_225___ 20,522.83 ▼ 219.92 ▼ 1.08%
Hang_Seng.__ 24,497.98 ▼ -121.47 ▼ -0.49%
Strait_Times.__ 3,249.52 ▼ -34.48 ▼ -1.05%
NZX_50_Index_ 5,891.85 ▲ 21.08 ▲ 0.36%
http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3
US stocks eke out tiny gains after erasing an early loss
US stocks erase and early loss and close with tiny gains; earnings news mostly disappoints
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- Stocks ended the day mostly flat on Thursday, recovering from broad losses earlier in the day. Investors continue to focus on corporate earnings, and Thursday's batch brought mostly disappointing results from Procter & Gamble, Facebook and others.
The Dow Jones industrial average lost 5.41 points, less than 0.1 percent, to end at 17,745.98. The index had been down 110 points at the beginning of the day.
The Standard & Poor's 500 index closed effectively unchanged, up 0.06 of a point at 2,108.63. The Nasdaq composite rose 17.05 points, or 0.3 percent, to 5,128.78.
Several companies made big moves after reporting their quarterly results. This is the busiest week for corporate earnings, with 174 members of the S&P 500 reporting.
Consumer products giant Procter & Gamble fell $3.23, or 4 percent, to $77.39. The maker of Tide detergent and Gillette razors reported softer sales than Wall Street analysts had expected. The company, like many others, has been negatively affected by the strong dollar, which makes U.S. products more expensive abroad.
Whole Foods plunged $4.74, or 12 percent, to $36.08. The company reported a sharp slowdown in sales growth last quarter, partially hurt by the recent news that some Whole Foods locations in New York City were overcharging customers.
Facebook fell $1.78, or 1.8 percent, to $95.21 after the company's results, while positive overall, included a sharp 82 percent jump in expenses as the company invested in growth. Facebook's stock hit an all-time high on July 21.
Many U.S. companies reporting second-quarter earnings have struggled to increase sales despite modest growth in the U.S. and elsewhere. That was evident Thursday in the results reported by P&G and Whole Foods.
FactSet estimates that revenue at companies in the S&P 500 has decreased 4 percent from a year ago, largely due to weakness in the energy sector. Even when energy is excluded, revenue is still up only 1.8 percent from the same period a year earlier.
"It's really a reflection of how lackluster this economic growth has been," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. "Profits can be manipulated by cutting costs, buying back shares, but your top line is your top line and if you aren't growing sales, it's very hard to mask that."
Investors had one batch of economic data to work through. The U.S. economy grew at a 2.3 percent annual rate in the April-June quarter, rebounding from a harsh winter. Leading the growth was a surge in consumer spending, the backbone of the U.S. economy, and a recovery in foreign trade. While positive, the data looks at the U.S. economy three months ago and did little to boost stocks.
In other markets, the price of oil resumed its slide after two days of gains. Benchmark U.S. crude fell 27 cents to close at $48.52 a barrel in New York. Crude is down nearly $11 a barrel, or 18 percent, for the month. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 7 cents to close at $53.31 a barrel in London.
In other futures trading on the NYMEX, wholesale gasoline rose 0.6 cents to close at $1.828 a gallon. Heating oil closed unchanged at $1.598 a gallon. Natural gas fell 11.8 cents to close at $2.768 per 1,000 cubic feet.
The dollar rose 0.4 percent to 124.34 yen and the euro edged down 0.6 percent to $1.0903.
Precious and industrial metals futures ended mostly lower. Gold lost $4.60 to settle at $1,088.70 an ounce, silver gave up five cents to settle at $14.70 an ounce and copper fell three cents to $2.38 a pound.
The NYSE DOW closed LOWER ▼ -5.41 points or ▼ -0.03% on Thursday, 30 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,745.98 ▼ -5.41 ▼ -0.03%
Nasdaq____ 5,128.79 ▲ 17.05 ▲ 0.33%
S&P_500___ 2,108.63 ▲ 0.06 ▲ 0.00%
30_Yr_Bond____ 2.95 ▼ -0.03 ▼ -1.14%
NYSE Volume 3,578,767,250
Nasdaq Volume 1,898,620,750
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,668.87 ▲ 37.87 ▲ 0.57%
DAX_____ 11,257.15 ▲ 45.30 ▲ 0.40%
CAC_40__ 5,046.42 ▲ 28.98 ▲ 0.58%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,653.10 ▲ 43.50 ▲ 0.78%
Shanghai_Comp 3,705.77 ▼ -83.40 ▼ -2.20%
Taiwan_Weight 8,651.49 ▲ 88.01 ▲ 1.03%
Nikkei_225___ 20,522.83 ▼ 219.92 ▼ 1.08%
Hang_Seng.__ 24,497.98 ▼ -121.47 ▼ -0.49%
Strait_Times.__ 3,249.52 ▼ -34.48 ▼ -1.05%
NZX_50_Index_ 5,891.85 ▲ 21.08 ▲ 0.36%
http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3
US stocks eke out tiny gains after erasing an early loss
US stocks erase and early loss and close with tiny gains; earnings news mostly disappoints
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- Stocks ended the day mostly flat on Thursday, recovering from broad losses earlier in the day. Investors continue to focus on corporate earnings, and Thursday's batch brought mostly disappointing results from Procter & Gamble, Facebook and others.
The Dow Jones industrial average lost 5.41 points, less than 0.1 percent, to end at 17,745.98. The index had been down 110 points at the beginning of the day.
The Standard & Poor's 500 index closed effectively unchanged, up 0.06 of a point at 2,108.63. The Nasdaq composite rose 17.05 points, or 0.3 percent, to 5,128.78.
Several companies made big moves after reporting their quarterly results. This is the busiest week for corporate earnings, with 174 members of the S&P 500 reporting.
Consumer products giant Procter & Gamble fell $3.23, or 4 percent, to $77.39. The maker of Tide detergent and Gillette razors reported softer sales than Wall Street analysts had expected. The company, like many others, has been negatively affected by the strong dollar, which makes U.S. products more expensive abroad.
Whole Foods plunged $4.74, or 12 percent, to $36.08. The company reported a sharp slowdown in sales growth last quarter, partially hurt by the recent news that some Whole Foods locations in New York City were overcharging customers.
Facebook fell $1.78, or 1.8 percent, to $95.21 after the company's results, while positive overall, included a sharp 82 percent jump in expenses as the company invested in growth. Facebook's stock hit an all-time high on July 21.
Many U.S. companies reporting second-quarter earnings have struggled to increase sales despite modest growth in the U.S. and elsewhere. That was evident Thursday in the results reported by P&G and Whole Foods.
FactSet estimates that revenue at companies in the S&P 500 has decreased 4 percent from a year ago, largely due to weakness in the energy sector. Even when energy is excluded, revenue is still up only 1.8 percent from the same period a year earlier.
"It's really a reflection of how lackluster this economic growth has been," said Jack Ablin, chief investment officer at BMO Private Bank in Chicago. "Profits can be manipulated by cutting costs, buying back shares, but your top line is your top line and if you aren't growing sales, it's very hard to mask that."
Investors had one batch of economic data to work through. The U.S. economy grew at a 2.3 percent annual rate in the April-June quarter, rebounding from a harsh winter. Leading the growth was a surge in consumer spending, the backbone of the U.S. economy, and a recovery in foreign trade. While positive, the data looks at the U.S. economy three months ago and did little to boost stocks.
In other markets, the price of oil resumed its slide after two days of gains. Benchmark U.S. crude fell 27 cents to close at $48.52 a barrel in New York. Crude is down nearly $11 a barrel, or 18 percent, for the month. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 7 cents to close at $53.31 a barrel in London.
In other futures trading on the NYMEX, wholesale gasoline rose 0.6 cents to close at $1.828 a gallon. Heating oil closed unchanged at $1.598 a gallon. Natural gas fell 11.8 cents to close at $2.768 per 1,000 cubic feet.
The dollar rose 0.4 percent to 124.34 yen and the euro edged down 0.6 percent to $1.0903.
Precious and industrial metals futures ended mostly lower. Gold lost $4.60 to settle at $1,088.70 an ounce, silver gave up five cents to settle at $14.70 an ounce and copper fell three cents to $2.38 a pound.
Attachments
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
- Reactions
- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed LOWER ▼ -56.12 points or ▼ -0.32% on Friday, 31 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,689.86 ▼ -56.12 ▼ -0.32%
Nasdaq____ 5,128.28 ▼ -0.50 ▼ -0.01%
S&P_500___ 2,103.84 ▼ -4.79 ▼ -0.23%
30_Yr_Bond____ 2.93 ▼ -0.03 ▼ -0.91%
NYSE Volume 3,684,458,500
Nasdaq Volume 1,899,807,500
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,696.28 ▲ 27.41 ▲ 0.41%
DAX_____ 11,308.99 ▲ 51.84 ▲ 0.46%
CAC_40__ 5,082.61 ▲ 36.19 ▲ 0.72%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,681.70 ▲ 28.60 ▲ 0.51%
Shanghai_Comp 3,663.73 ▼ -42.04 ▼ -1.13%
Taiwan_Weight 8,665.34 ▲ 13.85 ▲ 0.16%
Nikkei_225___ 20,585.24 ▲ 62.41 ▲ 0.30%
Hang_Seng.__ 24,636.28 ▲ 138.30 ▲ 0.56%
Strait_Times.__ 3,202.50 ▼ -47.02 ▼ -1.45%
NZX_50_Index_ 5,920.96 ▲ 29.11 ▲ 0.49%
http://finance.yahoo.com/news/us-stocks-end-lower-energy-201105516.html
US stocks end lower as energy stocks slump on earnings
US stocks end lower as Exxon and Chevron slump on earnings; Oil falls sharply again
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- Stocks closed modestly lower Friday as oil titans Exxon Mobil and Chevron led a slump in energy stocks.
The Dow Jones industrial average lost 56.12 points, or 0.3 percent, to 17,689.86. The Standard & Poor's 500 index lost 4.71 points, or 0.2 percent, to 2,103.92. The Nasdaq composite closed little changed, down half a point to 5,128.28.
It's was a see-saw week for the market, but all three major indexes closed higher by roughly 1 percent.
Shares of Exxon Mobil and Chevron, the two largest publicly traded energy companies, fell roughly 5 percent each on Friday. Both companies posted major declines in their year-over-year profits largely due to the big drop in the price of oil.
In the case of Exxon, earnings fell 52 percent from a year earlier, causing the company to report its lowest quarterly profit since June 2009. Exxon shares fell $3.80, or 4.6 percent, to $79.21.
Chevron, hurt by low oil prices and a write-off of some of its assets, reported its lowest profit in 13 years. The company reported a profit of 30 cents a share, well below the $1.13 analysts expected. Chevron fell $4.55, or 4.9 percent, to $88.48.
Exxon and Chevron dragged down other energy stocks. The S&P 500 energy sector slumped 2.6 percent, its biggest drop since January.
Energy companies have been a major drag on corporate earnings in the second quarter. S&P 500 companies are on track for a 1.3 percent year-over-year decline in earnings, according to FactSet. If energy were excluded, corporate profits would be up 5.4 percent.
Even with oil prices down more than 50 percent from a year ago, crude has continued to fall. Oil prices declined sharply again Friday on continuing concerns over high global supplies and weak demand, helping push oil down 21 percent for the month.
Benchmark U.S. crude fell $1.40 to close at $47.12 a barrel in New York. Crude fell $12.35 a barrel during the month, from $59.47 at the end of June. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.10 to close at $52.21 in London.
A disappointing economic report also weighed on stocks.
U.S. wages and benefits grew at their slowest pace in 33 years in the spring, the Labor Department said, stark evidence that the improving job market is having little impact on paychecks for most Americans. The slowdown likely reflects a sharp drop-off in bonus and incentive pay for some workers.
The lackluster wage growth suggests that companies are still able to find the workers they need without boosting pay, a sign the job market is not yet back to full health. That could cause the Federal Reserve hold of any increase in interest rates.
Bond prices rose after the report, pushing the 10-year U.S. Treasury note down to 2.19 percent from 2.26 percent on Thursday.
"I can't imagine the Fed is looking at (this data) this morning as a reason to increase rates in September," said Tom di Galoma, head of rates trading at ED&F Man Capital.
In other energy markets, wholesale gasoline rose 1.3 cents to close at $1.841 a gallon. Heating oil fell 1.4 cents to close at $1.584 a gallon. Natural gas fell 5.2 cents to close at $2.716 per 1,000 cubic feet.
In currencies, the dollar fell 0.3 percent to 123.90 yen and the euro rose 0.4 percent to $1.0985.
In metals trading, gold rose $6.50 to $1,095.90 an ounce and silver rose 5 cents to $14.75 an ounce. Copper fell 1 cent to $2.43 per pound.
1430
The NYSE DOW closed LOWER ▼ -56.12 points or ▼ -0.32% on Friday, 31 July 2015
Symbol …........Last …......Change.......
Dow_Jones 17,689.86 ▼ -56.12 ▼ -0.32%
Nasdaq____ 5,128.28 ▼ -0.50 ▼ -0.01%
S&P_500___ 2,103.84 ▼ -4.79 ▼ -0.23%
30_Yr_Bond____ 2.93 ▼ -0.03 ▼ -0.91%
NYSE Volume 3,684,458,500
Nasdaq Volume 1,899,807,500
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,696.28 ▲ 27.41 ▲ 0.41%
DAX_____ 11,308.99 ▲ 51.84 ▲ 0.46%
CAC_40__ 5,082.61 ▲ 36.19 ▲ 0.72%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,681.70 ▲ 28.60 ▲ 0.51%
Shanghai_Comp 3,663.73 ▼ -42.04 ▼ -1.13%
Taiwan_Weight 8,665.34 ▲ 13.85 ▲ 0.16%
Nikkei_225___ 20,585.24 ▲ 62.41 ▲ 0.30%
Hang_Seng.__ 24,636.28 ▲ 138.30 ▲ 0.56%
Strait_Times.__ 3,202.50 ▼ -47.02 ▼ -1.45%
NZX_50_Index_ 5,920.96 ▲ 29.11 ▲ 0.49%
http://finance.yahoo.com/news/us-stocks-end-lower-energy-201105516.html
US stocks end lower as energy stocks slump on earnings
US stocks end lower as Exxon and Chevron slump on earnings; Oil falls sharply again
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- Stocks closed modestly lower Friday as oil titans Exxon Mobil and Chevron led a slump in energy stocks.
The Dow Jones industrial average lost 56.12 points, or 0.3 percent, to 17,689.86. The Standard & Poor's 500 index lost 4.71 points, or 0.2 percent, to 2,103.92. The Nasdaq composite closed little changed, down half a point to 5,128.28.
It's was a see-saw week for the market, but all three major indexes closed higher by roughly 1 percent.
Shares of Exxon Mobil and Chevron, the two largest publicly traded energy companies, fell roughly 5 percent each on Friday. Both companies posted major declines in their year-over-year profits largely due to the big drop in the price of oil.
In the case of Exxon, earnings fell 52 percent from a year earlier, causing the company to report its lowest quarterly profit since June 2009. Exxon shares fell $3.80, or 4.6 percent, to $79.21.
Chevron, hurt by low oil prices and a write-off of some of its assets, reported its lowest profit in 13 years. The company reported a profit of 30 cents a share, well below the $1.13 analysts expected. Chevron fell $4.55, or 4.9 percent, to $88.48.
Exxon and Chevron dragged down other energy stocks. The S&P 500 energy sector slumped 2.6 percent, its biggest drop since January.
Energy companies have been a major drag on corporate earnings in the second quarter. S&P 500 companies are on track for a 1.3 percent year-over-year decline in earnings, according to FactSet. If energy were excluded, corporate profits would be up 5.4 percent.
Even with oil prices down more than 50 percent from a year ago, crude has continued to fall. Oil prices declined sharply again Friday on continuing concerns over high global supplies and weak demand, helping push oil down 21 percent for the month.
Benchmark U.S. crude fell $1.40 to close at $47.12 a barrel in New York. Crude fell $12.35 a barrel during the month, from $59.47 at the end of June. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.10 to close at $52.21 in London.
A disappointing economic report also weighed on stocks.
U.S. wages and benefits grew at their slowest pace in 33 years in the spring, the Labor Department said, stark evidence that the improving job market is having little impact on paychecks for most Americans. The slowdown likely reflects a sharp drop-off in bonus and incentive pay for some workers.
The lackluster wage growth suggests that companies are still able to find the workers they need without boosting pay, a sign the job market is not yet back to full health. That could cause the Federal Reserve hold of any increase in interest rates.
Bond prices rose after the report, pushing the 10-year U.S. Treasury note down to 2.19 percent from 2.26 percent on Thursday.
"I can't imagine the Fed is looking at (this data) this morning as a reason to increase rates in September," said Tom di Galoma, head of rates trading at ED&F Man Capital.
In other energy markets, wholesale gasoline rose 1.3 cents to close at $1.841 a gallon. Heating oil fell 1.4 cents to close at $1.584 a gallon. Natural gas fell 5.2 cents to close at $2.716 per 1,000 cubic feet.
In currencies, the dollar fell 0.3 percent to 123.90 yen and the euro rose 0.4 percent to $1.0985.
In metals trading, gold rose $6.50 to $1,095.90 an ounce and silver rose 5 cents to $14.75 an ounce. Copper fell 1 cent to $2.43 per pound.
1430
Attachments
Logique
Investor
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- 18 April 2007
- Posts
- 4,290
- Reactions
- 768
US market anticipating the interest rate rise? Not so hot technically. Certainly gold is going nowhere.
Uncomfortably close to a Death Cross on daily EMA.
Uncomfortably close to a Death Cross on daily EMA.
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
- Reactions
- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed LOWER ▼ -91.66 points or ▼ -0.52% on Monday, 3 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,598.20 ▼ -91.66 ▼ -0.52%
Nasdaq____ 5,115.38 ▼ -12.90 ▼ -0.25%
S&P_500___ 2,098.04 ▼ -5.80 ▼ -0.28%
30_Yr_Bond____ 2.86 ▼ -0.07 ▼ -2.25%
NYSE Volume 3,475,933,500
Nasdaq Volume 1,779,418,120
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,688.62 ▼ -7.66 ▼ -0.11%
DAX_____ 11,443.72 ▲ 134.73 ▲ 1.19%
CAC_40__ 5,120.52 ▲ 37.91 ▲ 0.75%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,664.30 ▼ -17.40 ▼ -0.31%
Shanghai_Comp 3,622.91 ▼ -40.82 ▼ -1.11%
Taiwan_Weight 8,524.41 ▼ -140.93 ▼ -1.63%
Nikkei_225___ 20,548.11 ▼ -37.13 ▼ -0.18%
Hang_Seng.__ 24,411.42 ▼ -224.86 ▼ -0.91%
Strait_Times.__ 3,192.79 ▼ -9.71 ▼ -0.30%
NZX_50_Index_ 5,957.85 ▲ 36.89 ▲ 0.62%
http://finance.yahoo.com/news/us-stocks-drop-led-another-205044022.html
US stocks drop, led by another fall in the energy sector
Energy stocks slump, leading broader US market lower; Tyson Foods drops after cutting outlook
Associated Press By Steve Rothwell, AP Business Writer
NEW YORK (AP) -- Another bad day for the energy sector pulled down stocks on Monday.
Energy stocks slumped as the price of oil dropped to its lowest in more than four months. Oil has fallen sharply since the end of June on evidence that a global supply glut is building at the same time demand appears to be slowing.
The energy sector is down 15 percent this year, making it easily the worst performing industry group in the S&P 500 index. Earnings at energy companies have dropped almost 60 percent in the second quarter.
"Certainly, oil production has been strong globally," said Serena Vinton, a portfolio manager at Franklin Templeton. "And with some of the global economic concerns and strong global production, it creates a nervous environment for oil."
The Standard & Poor's 500 index dropped 5.80 points, or 0.3 percent, to 2,098.04. The Dow Jones industrial average fell 91.66 points, or 0.5 percent, to 17,598.20. The Nasdaq composite slipped 12.90 points, or 0.3 percent, to 5,115.38.
Benchmark U.S. crude fell $1.95, or 4.1 percent, to close at $45.17 a barrel in New York. U.S. crude has been sliding since reaching a high this year of $61.43 a barrel on June 10.
Overall, stocks have been in the doldrums since the S&P 500 closed at an all-time high of 2,130 on May 21. Short sell-offs have been followed by short rallies as investors have weighed signs of an improving U.S. economy against signs of weakening growth overseas.
Among individual stocks, Tyson Foods was the biggest loser in the S&P 500 index Monday. The meat producer slumped $4.39, or 9.9 percent, to $39.96 after cutting its outlook for fiscal 2015 earnings.
The company, which owns the Jimmy Dean breakfast sausage brand, blamed conditions in the beef market for its woes, citing high cattle costs and "export issues" as factors that were hurting its profits.
Michael Kors was another big loser, dropping $3.28, or 7.8 percent, to $38.71 amid concern that demand for the luxury fashion retailer's handbags is dropping off. Analysts at investment bank Canaccord cut their price target on the stock ahead of the company's latest earnings report due out Thursday.
In Europe, Greece's stock market sank 16 percent as it reopened from a month-long shutdown brought on by the near collapse of the country's financial system during its high-wire bailout negotiations.
Two surveys published Monday showed the damage caused to the Greek economy in July by the bank closures, money controls and uncertainty over the country's future.
A gauge of manufacturing in Greece plummeted in July to the lowest reading ever recorded, despite improvements across the rest of the 19-country eurozone. A separate survey showed that business and consumer confidence fell for a fifth consecutive month in July to its worst level since October 2012.
"The fundamentals of the country are still so weak and so uncertain," Jorge Mariscal, regional chief investment officer for emerging markets at UBS Wealth Management. "Clearly, the market is trading these assets as what they are, distressed assets."
Even after reaching the basis of a deal with its creditors, Greece still has to demonstrate that it can deliver on its pledges for reform, he said.
Investors also got an update on how the U.S. economy is doing.
U.S. factories were a little less busy last month. The Institute of Purchasing Managers' manufacturing index slipped to 52.7 from 53.5 in June. Economists had expected the index to remain unchanged. Any reading above 50 indicates growth.
Investors are following this month's economic reports closely to see if the economy is strengthening sufficiently for the Federal Reserve to raise interest rates later this year.
The NYSE DOW closed LOWER ▼ -91.66 points or ▼ -0.52% on Monday, 3 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,598.20 ▼ -91.66 ▼ -0.52%
Nasdaq____ 5,115.38 ▼ -12.90 ▼ -0.25%
S&P_500___ 2,098.04 ▼ -5.80 ▼ -0.28%
30_Yr_Bond____ 2.86 ▼ -0.07 ▼ -2.25%
NYSE Volume 3,475,933,500
Nasdaq Volume 1,779,418,120
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,688.62 ▼ -7.66 ▼ -0.11%
DAX_____ 11,443.72 ▲ 134.73 ▲ 1.19%
CAC_40__ 5,120.52 ▲ 37.91 ▲ 0.75%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,664.30 ▼ -17.40 ▼ -0.31%
Shanghai_Comp 3,622.91 ▼ -40.82 ▼ -1.11%
Taiwan_Weight 8,524.41 ▼ -140.93 ▼ -1.63%
Nikkei_225___ 20,548.11 ▼ -37.13 ▼ -0.18%
Hang_Seng.__ 24,411.42 ▼ -224.86 ▼ -0.91%
Strait_Times.__ 3,192.79 ▼ -9.71 ▼ -0.30%
NZX_50_Index_ 5,957.85 ▲ 36.89 ▲ 0.62%
http://finance.yahoo.com/news/us-stocks-drop-led-another-205044022.html
US stocks drop, led by another fall in the energy sector
Energy stocks slump, leading broader US market lower; Tyson Foods drops after cutting outlook
Associated Press By Steve Rothwell, AP Business Writer
NEW YORK (AP) -- Another bad day for the energy sector pulled down stocks on Monday.
Energy stocks slumped as the price of oil dropped to its lowest in more than four months. Oil has fallen sharply since the end of June on evidence that a global supply glut is building at the same time demand appears to be slowing.
The energy sector is down 15 percent this year, making it easily the worst performing industry group in the S&P 500 index. Earnings at energy companies have dropped almost 60 percent in the second quarter.
"Certainly, oil production has been strong globally," said Serena Vinton, a portfolio manager at Franklin Templeton. "And with some of the global economic concerns and strong global production, it creates a nervous environment for oil."
The Standard & Poor's 500 index dropped 5.80 points, or 0.3 percent, to 2,098.04. The Dow Jones industrial average fell 91.66 points, or 0.5 percent, to 17,598.20. The Nasdaq composite slipped 12.90 points, or 0.3 percent, to 5,115.38.
Benchmark U.S. crude fell $1.95, or 4.1 percent, to close at $45.17 a barrel in New York. U.S. crude has been sliding since reaching a high this year of $61.43 a barrel on June 10.
Overall, stocks have been in the doldrums since the S&P 500 closed at an all-time high of 2,130 on May 21. Short sell-offs have been followed by short rallies as investors have weighed signs of an improving U.S. economy against signs of weakening growth overseas.
Among individual stocks, Tyson Foods was the biggest loser in the S&P 500 index Monday. The meat producer slumped $4.39, or 9.9 percent, to $39.96 after cutting its outlook for fiscal 2015 earnings.
The company, which owns the Jimmy Dean breakfast sausage brand, blamed conditions in the beef market for its woes, citing high cattle costs and "export issues" as factors that were hurting its profits.
Michael Kors was another big loser, dropping $3.28, or 7.8 percent, to $38.71 amid concern that demand for the luxury fashion retailer's handbags is dropping off. Analysts at investment bank Canaccord cut their price target on the stock ahead of the company's latest earnings report due out Thursday.
In Europe, Greece's stock market sank 16 percent as it reopened from a month-long shutdown brought on by the near collapse of the country's financial system during its high-wire bailout negotiations.
Two surveys published Monday showed the damage caused to the Greek economy in July by the bank closures, money controls and uncertainty over the country's future.
A gauge of manufacturing in Greece plummeted in July to the lowest reading ever recorded, despite improvements across the rest of the 19-country eurozone. A separate survey showed that business and consumer confidence fell for a fifth consecutive month in July to its worst level since October 2012.
"The fundamentals of the country are still so weak and so uncertain," Jorge Mariscal, regional chief investment officer for emerging markets at UBS Wealth Management. "Clearly, the market is trading these assets as what they are, distressed assets."
Even after reaching the basis of a deal with its creditors, Greece still has to demonstrate that it can deliver on its pledges for reform, he said.
Investors also got an update on how the U.S. economy is doing.
U.S. factories were a little less busy last month. The Institute of Purchasing Managers' manufacturing index slipped to 52.7 from 53.5 in June. Economists had expected the index to remain unchanged. Any reading above 50 indicates growth.
Investors are following this month's economic reports closely to see if the economy is strengthening sufficiently for the Federal Reserve to raise interest rates later this year.
Attachments
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
- Reactions
- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed LOWER ▼ -47.51 points or ▼ -0.27% on Tuesday, 4 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,550.69 ▼ -47.51 ▼ -0.27%
Nasdaq____ 5,105.55 ▼ -9.84 ▼ -0.19%
S&P_500___ 2,093.32 ▼ -4.72 ▼ -0.22%
30_Yr_Bond____ 2.89 ▲ 0.03 ▲ 0.91%
NYSE Volume 3,546,065,250
Nasdaq Volume 1,814,809,250
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,686.57 ▼ -2.05 ▼ -0.03%
DAX_____ 11,456.07 ▲ 12.35 ▲ 0.11%
CAC_40__ 5,112.14 ▼ -8.38 ▼ -0.16%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,681.90 ▲ 17.60 ▲ 0.31%
Shanghai_Comp 3,756.54 ▲ 133.64 ▲ 3.69%
Taiwan_Weight 8,510.86 ▼ -13.55 ▼ -0.16%
Nikkei_225___ 20,520.36 ▼ -27.75 ▼ -0.14%
Hang_Seng.__ 24,406.12 ▼ -5.30 ▼ -0.02%
Strait_Times.__ 3,191.04 ▼ -1.75 ▼ -0.05%
NZX_50_Index_ 5,933.75 ▼ -24.10 ▼ -0.40%
http://finance.yahoo.com/news/us-stocks-move-lower-earnings-192947659.html
US stocks move lower as earnings disappoint; Allstate slumps
US stocks move mostly lower as traders assess earnings; Allstate slumps on weak results
Associated Press By Steve Rothwell, AP Business Writer
NEW YORK (AP) -- U.S. stocks fell for a third straight day Tuesday as investors assessed some disappointing earnings reports.
Allstate slumped to its biggest loss in more than five years after reporting a drop in profits that was worse than Wall Street analysts had been expecting. NRG Energy was another company that disappointed investors, reporting a loss, when analysts had been expecting a small profit.
Stocks have been trading in a tight range for several weeks as investors wait to see if the economy strengthens sufficiently for the Federal Reserve to raise its benchmark interest rate for the first time in more than nine years. Investors shouldn't make the mistake though of thinking that the market is in a summer slumber, said Kate Warne, an investment strategist at brokerage Edward Jones.
While energy stocks have plunged in response to falling oil prices, she noted, health care stocks are having another banner year.
"Stocks haven't moved any place, but it's because there's been an equal mix of gainers and losers," says Jones. "What we're seeing is a back-and-forth market, not a doldrums market."
The Standard & Poor's 500 index dropped 4.72 points, or 0.2 percent, to 2,093.32. The Dow Jones industrial average dropped 47.51 points, or 0.3 percent, to 17,550.69. The Nasdaq composite fell 9.84 points, or 0.2 percent, to 5,105.55.
Allstate was among the biggest decliners in the S&P 500. The insurer dropped $7.04, or 10 percent, to $62.34 after reporting earnings that fell significantly short of analysts' expectations. The company said its earnings dropped because of more frequent and more severe auto accidents.
NRG Energy dropped $2.23, or 10 percent, to $20.04.
A slump in Apple's stock also weighed on the market.
Apple dropped for a fifth straight day after falling below a closely followed level that traders use to gauge the momentum of a stock. The iPhone maker closed down $3.80 at $114.64 and has dropped 14 percent since closing at a record $133 on Feb. 23. That puts Apple in a correction, Wall Street parlance for price declines of 10 percent or more from a peak.
Almost 80 percent of the companies in the S&P 500 have now reported their second-quarter earnings, and average earnings for companies in the index are set to fall 0.2 percent. If earnings do end lower the quarter lower, once all companies have reported, it would be the first quarter in almost six years that corporations have failed to grow their profits.
Still, many analysts are predicting that earnings will recover in the second half of the year as the economy strengthens.
"This is an earnings stall, not an earnings decline," said Jeremy Zirin, head of investment strategy at UBS Wealth Management.
In energy trading, the price of oil rose Tuesday, partially reversing Monday's steep drop. U.S. crude rose 57 cents to close at $45.74 a barrel in New York, regaining some of the $1.95 it lost Monday. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 47 cents to close at $49.99 in London.
Despite Tuesday's rebound in oil prices it is likely still too early to consider investing in oil stocks, said Anastasia Amoroso, a global market strategist at JPMorgan Funds. That's because they still haven't been able to adjust to the sharp drop in oil prices that started about a year ago.
"As much as oil companies are attempting to cut costs they cannot keep up with the drop in revenues," said Amoroso. "For me, you need to see some further cost cutting by the energy companies."
In bond trading, prices fell after the Wall Street Journal reported that Federal Reserve Bank of Atlanta Dennis Lockhart said in interview that the economy was ready for its first rate increase in more than nine years.
The yield on the 10-year Treasury note climbed to 2.22 percent from 2.15 percent the day before. The comments also gave a boost to the dollar. The dollar rose to 124.33 yen and the euro fell to $1.0889.
In metals trading, gold edged up $1.30 to $1,090.70 an ounce, silver rose four cents to $14.56 an ounce and copper increased two cents to $2.36 a pound.
In other energy futures trading on the New York Mercantile Exchange:
”” Wholesale gasoline rose 1 cent to close at $1.685 a gallon.
”” Heating oil rose 1.7 cents to close at $1.548 a gallon.
”” Natural gas rose 6.4 cents to close at $2.812 per 1,000 cubic feet.
The NYSE DOW closed LOWER ▼ -47.51 points or ▼ -0.27% on Tuesday, 4 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,550.69 ▼ -47.51 ▼ -0.27%
Nasdaq____ 5,105.55 ▼ -9.84 ▼ -0.19%
S&P_500___ 2,093.32 ▼ -4.72 ▼ -0.22%
30_Yr_Bond____ 2.89 ▲ 0.03 ▲ 0.91%
NYSE Volume 3,546,065,250
Nasdaq Volume 1,814,809,250
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,686.57 ▼ -2.05 ▼ -0.03%
DAX_____ 11,456.07 ▲ 12.35 ▲ 0.11%
CAC_40__ 5,112.14 ▼ -8.38 ▼ -0.16%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,681.90 ▲ 17.60 ▲ 0.31%
Shanghai_Comp 3,756.54 ▲ 133.64 ▲ 3.69%
Taiwan_Weight 8,510.86 ▼ -13.55 ▼ -0.16%
Nikkei_225___ 20,520.36 ▼ -27.75 ▼ -0.14%
Hang_Seng.__ 24,406.12 ▼ -5.30 ▼ -0.02%
Strait_Times.__ 3,191.04 ▼ -1.75 ▼ -0.05%
NZX_50_Index_ 5,933.75 ▼ -24.10 ▼ -0.40%
http://finance.yahoo.com/news/us-stocks-move-lower-earnings-192947659.html
US stocks move lower as earnings disappoint; Allstate slumps
US stocks move mostly lower as traders assess earnings; Allstate slumps on weak results
Associated Press By Steve Rothwell, AP Business Writer
NEW YORK (AP) -- U.S. stocks fell for a third straight day Tuesday as investors assessed some disappointing earnings reports.
Allstate slumped to its biggest loss in more than five years after reporting a drop in profits that was worse than Wall Street analysts had been expecting. NRG Energy was another company that disappointed investors, reporting a loss, when analysts had been expecting a small profit.
Stocks have been trading in a tight range for several weeks as investors wait to see if the economy strengthens sufficiently for the Federal Reserve to raise its benchmark interest rate for the first time in more than nine years. Investors shouldn't make the mistake though of thinking that the market is in a summer slumber, said Kate Warne, an investment strategist at brokerage Edward Jones.
While energy stocks have plunged in response to falling oil prices, she noted, health care stocks are having another banner year.
"Stocks haven't moved any place, but it's because there's been an equal mix of gainers and losers," says Jones. "What we're seeing is a back-and-forth market, not a doldrums market."
The Standard & Poor's 500 index dropped 4.72 points, or 0.2 percent, to 2,093.32. The Dow Jones industrial average dropped 47.51 points, or 0.3 percent, to 17,550.69. The Nasdaq composite fell 9.84 points, or 0.2 percent, to 5,105.55.
Allstate was among the biggest decliners in the S&P 500. The insurer dropped $7.04, or 10 percent, to $62.34 after reporting earnings that fell significantly short of analysts' expectations. The company said its earnings dropped because of more frequent and more severe auto accidents.
NRG Energy dropped $2.23, or 10 percent, to $20.04.
A slump in Apple's stock also weighed on the market.
Apple dropped for a fifth straight day after falling below a closely followed level that traders use to gauge the momentum of a stock. The iPhone maker closed down $3.80 at $114.64 and has dropped 14 percent since closing at a record $133 on Feb. 23. That puts Apple in a correction, Wall Street parlance for price declines of 10 percent or more from a peak.
Almost 80 percent of the companies in the S&P 500 have now reported their second-quarter earnings, and average earnings for companies in the index are set to fall 0.2 percent. If earnings do end lower the quarter lower, once all companies have reported, it would be the first quarter in almost six years that corporations have failed to grow their profits.
Still, many analysts are predicting that earnings will recover in the second half of the year as the economy strengthens.
"This is an earnings stall, not an earnings decline," said Jeremy Zirin, head of investment strategy at UBS Wealth Management.
In energy trading, the price of oil rose Tuesday, partially reversing Monday's steep drop. U.S. crude rose 57 cents to close at $45.74 a barrel in New York, regaining some of the $1.95 it lost Monday. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 47 cents to close at $49.99 in London.
Despite Tuesday's rebound in oil prices it is likely still too early to consider investing in oil stocks, said Anastasia Amoroso, a global market strategist at JPMorgan Funds. That's because they still haven't been able to adjust to the sharp drop in oil prices that started about a year ago.
"As much as oil companies are attempting to cut costs they cannot keep up with the drop in revenues," said Amoroso. "For me, you need to see some further cost cutting by the energy companies."
In bond trading, prices fell after the Wall Street Journal reported that Federal Reserve Bank of Atlanta Dennis Lockhart said in interview that the economy was ready for its first rate increase in more than nine years.
The yield on the 10-year Treasury note climbed to 2.22 percent from 2.15 percent the day before. The comments also gave a boost to the dollar. The dollar rose to 124.33 yen and the euro fell to $1.0889.
In metals trading, gold edged up $1.30 to $1,090.70 an ounce, silver rose four cents to $14.56 an ounce and copper increased two cents to $2.36 a pound.
In other energy futures trading on the New York Mercantile Exchange:
”” Wholesale gasoline rose 1 cent to close at $1.685 a gallon.
”” Heating oil rose 1.7 cents to close at $1.548 a gallon.
”” Natural gas rose 6.4 cents to close at $2.812 per 1,000 cubic feet.
Attachments
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
- Reactions
- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed LOWER ▼ -10.22 points or ▼ -0.06% on Wednesday, 5 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,540.47 ▼ -10.22 ▼ -0.06%
Nasdaq____ 5,139.94 ▲ 34.40 ▲ 0.67%
S&P_500___ 2,099.84 ▲ 6.52 ▲ 0.31%
30_Yr_Bond____ 2.94 ▲ 0.06 ▲ 1.94%
NYSE Volume 2,429,512,250
Nasdaq Volume 1,314,477,750
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,752.41 ▲ 65.84 ▲ 0.98%
DAX_____ 11,636.30 ▲ 180.23 ▲ 1.57%
CAC_40__ 5,196.73 ▲ 84.59 ▲ 1.65%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,659.50 ▼ -22.40 ▼ -0.39%
Shanghai_Comp 3,694.57 ▼ -61.97 ▼ -1.65%
Taiwan_Weight 8,542.27 ▲ 31.41 ▲ 0.37%
Nikkei_225___ 20,614.06 ▲ 93.70 ▲ 0.46%
Hang_Seng.__ 24,514.16 ▲ 108.04 ▲ 0.44%
Strait_Times.__ 3,191.39 ▲ 0.35 ▲ 0.01%
NZX_50_Index_ 5,938.51 ▲ 4.76 ▲ 0.08%
http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3
US stocks eke out gains following solid earnings news
Better earnings drive US stocks to modest gains, but energy sector slumps along with oil
Associated Press By Mathew Craft, AP Business Writer
NEW YORK (AP) -- The latest batch of corporate results helped nudge the stock market to a slight gain Wednesday, snapping a three-day slump. Another drop in oil prices held indexes back.
First Solar soared 17 percent, the biggest gain in the S&P 500, following news that the country's largest solar company turned in results that beat estimates and also raised its outlook for full-year profits. First Solar's stock jumped $7.42 to $51.92.
Better corporate earnings have helped support the stock market over the past month. Heading into the second-quarter earnings season last month, investors were braced for a sharp drop in profits. But now, with the bulk of results turned in, earnings are on track to slip just 0.2 percent, according to S&P Capital IQ.
"The expectations were that things would be terrible," said Brad McMillan, the chief investment officer for the Commonwealth Financial Network. "And while they're not great, they're certainly better than expected."
The Standard & Poor's 500 index gained 6.52 points, or 0.3 percent, to close at 2,099.84.
The Dow Jones industrial average lost 10.22 points, or 0.1 percent, to 17,540.47, while the Nasdaq composite rose 34.40 points, or 0.7 percent, to 5,139.94.
The market has looked listless in recent weeks as investors have traded one set of concerns for another. Worries about Greece have faded, said Burt White, the chief investment officer at LPL Financial. But concerns about China's economy and the Federal Reserve's next interest-rate increase remain. "I don't think the economy has a confidence problem," White said. "I think investors are having a confidence issue here."
Among other companies reporting quarterly results, Walt Disney dropped 9 percent, weighing on the Dow, after posting sales that fell short of estimates. The company also said a decrease in subscribers to ESPN could hamper its profit in the coming years. Disney's stock lost $11.16 to $110.53.
Priceline Group climbed 5 percent after the online-booking service posted profit and revenue that easily beat analysts' forecasts, helped by rising reservations for hotel rooms and rental cars. Its stock gained $67.22 to $1,351.21.
In Europe, an encouraging economic survey along with improving corporate earnings helped push major markets up. Germany's DAX surged 1.6 percent, France's CAC 40 gained 1.7 percent, and Britain's FTSE 100 added 1 percent.
In China, the Shanghai Composite Index slid 1.6 percent, while Hong Kong's Hang Seng gained 0.5 percent. Japan's Nikkei 225 rose 0.5 percent, South Korea's Kospi added 0.1 percent, while Australia's S&P/ASX 200 dropped 0.4 percent.
Back in the U.S., government bond prices fell, sending the yield on the 10-year Treasury note up to 2.27 percent from 2.22 percent.
Most precious and industrial metals finished with losses. Gold lost $5.10 to settle at $1,085.60 an ounce while silver was flat at $14.55 an ounce. Copper lost a penny to $2.35 a pound.
The price of oil turned lower after the Energy Department reported an increase in gasoline inventories. U.S. crude fell 59 cents to close at $45.15 a barrel on the New York Mercantile Exchange, hitting its lowest price since March. Brent crude, an international benchmark, fell 40 cents to close at $49.59 in London.
In other trading on the New York Mercantile Exchange:
— Wholesale gasoline fell 1.4 cents to close at $1.671 a gallon.
— Heating oil fell 0.9 cents to close at $1.539 a gallon.
— Natural gas fell 1.4 cents to close at $2.798 per 1,000 cubic feet.
The NYSE DOW closed LOWER ▼ -10.22 points or ▼ -0.06% on Wednesday, 5 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,540.47 ▼ -10.22 ▼ -0.06%
Nasdaq____ 5,139.94 ▲ 34.40 ▲ 0.67%
S&P_500___ 2,099.84 ▲ 6.52 ▲ 0.31%
30_Yr_Bond____ 2.94 ▲ 0.06 ▲ 1.94%
NYSE Volume 2,429,512,250
Nasdaq Volume 1,314,477,750
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,752.41 ▲ 65.84 ▲ 0.98%
DAX_____ 11,636.30 ▲ 180.23 ▲ 1.57%
CAC_40__ 5,196.73 ▲ 84.59 ▲ 1.65%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,659.50 ▼ -22.40 ▼ -0.39%
Shanghai_Comp 3,694.57 ▼ -61.97 ▼ -1.65%
Taiwan_Weight 8,542.27 ▲ 31.41 ▲ 0.37%
Nikkei_225___ 20,614.06 ▲ 93.70 ▲ 0.46%
Hang_Seng.__ 24,514.16 ▲ 108.04 ▲ 0.44%
Strait_Times.__ 3,191.39 ▲ 0.35 ▲ 0.01%
NZX_50_Index_ 5,938.51 ▲ 4.76 ▲ 0.08%
http://finance.yahoo.com/news/us-st...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3
US stocks eke out gains following solid earnings news
Better earnings drive US stocks to modest gains, but energy sector slumps along with oil
Associated Press By Mathew Craft, AP Business Writer
NEW YORK (AP) -- The latest batch of corporate results helped nudge the stock market to a slight gain Wednesday, snapping a three-day slump. Another drop in oil prices held indexes back.
First Solar soared 17 percent, the biggest gain in the S&P 500, following news that the country's largest solar company turned in results that beat estimates and also raised its outlook for full-year profits. First Solar's stock jumped $7.42 to $51.92.
Better corporate earnings have helped support the stock market over the past month. Heading into the second-quarter earnings season last month, investors were braced for a sharp drop in profits. But now, with the bulk of results turned in, earnings are on track to slip just 0.2 percent, according to S&P Capital IQ.
"The expectations were that things would be terrible," said Brad McMillan, the chief investment officer for the Commonwealth Financial Network. "And while they're not great, they're certainly better than expected."
The Standard & Poor's 500 index gained 6.52 points, or 0.3 percent, to close at 2,099.84.
The Dow Jones industrial average lost 10.22 points, or 0.1 percent, to 17,540.47, while the Nasdaq composite rose 34.40 points, or 0.7 percent, to 5,139.94.
The market has looked listless in recent weeks as investors have traded one set of concerns for another. Worries about Greece have faded, said Burt White, the chief investment officer at LPL Financial. But concerns about China's economy and the Federal Reserve's next interest-rate increase remain. "I don't think the economy has a confidence problem," White said. "I think investors are having a confidence issue here."
Among other companies reporting quarterly results, Walt Disney dropped 9 percent, weighing on the Dow, after posting sales that fell short of estimates. The company also said a decrease in subscribers to ESPN could hamper its profit in the coming years. Disney's stock lost $11.16 to $110.53.
Priceline Group climbed 5 percent after the online-booking service posted profit and revenue that easily beat analysts' forecasts, helped by rising reservations for hotel rooms and rental cars. Its stock gained $67.22 to $1,351.21.
In Europe, an encouraging economic survey along with improving corporate earnings helped push major markets up. Germany's DAX surged 1.6 percent, France's CAC 40 gained 1.7 percent, and Britain's FTSE 100 added 1 percent.
In China, the Shanghai Composite Index slid 1.6 percent, while Hong Kong's Hang Seng gained 0.5 percent. Japan's Nikkei 225 rose 0.5 percent, South Korea's Kospi added 0.1 percent, while Australia's S&P/ASX 200 dropped 0.4 percent.
Back in the U.S., government bond prices fell, sending the yield on the 10-year Treasury note up to 2.27 percent from 2.22 percent.
Most precious and industrial metals finished with losses. Gold lost $5.10 to settle at $1,085.60 an ounce while silver was flat at $14.55 an ounce. Copper lost a penny to $2.35 a pound.
The price of oil turned lower after the Energy Department reported an increase in gasoline inventories. U.S. crude fell 59 cents to close at $45.15 a barrel on the New York Mercantile Exchange, hitting its lowest price since March. Brent crude, an international benchmark, fell 40 cents to close at $49.59 in London.
In other trading on the New York Mercantile Exchange:
— Wholesale gasoline fell 1.4 cents to close at $1.671 a gallon.
— Heating oil fell 0.9 cents to close at $1.539 a gallon.
— Natural gas fell 1.4 cents to close at $2.798 per 1,000 cubic feet.
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bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
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- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed LOWER ▼ -120.72 points or ▼ -0.69% on Thursday, 6 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,419.75 ▼ -120.72 ▼ -0.69%
Nasdaq____ 5,056.44 ▼ -83.50 ▼ -1.62%
S&P_500___ 2,083.56 ▼ -16.28 ▼ -0.78%
30_Yr_Bond____ 2.91 ▼ -0.04 ▼ -1.22%
NYSE Volume 4,248,628,000
Nasdaq Volume 2,246,570,000
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,747.09 ▼ -5.32 ▼ -0.08%
DAX_____ 11,585.10 ▼ -51.20 ▼ -0.44%
CAC_40__ 5,192.11 ▼ -4.62 ▼ -0.09%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,600.10 ▼ -59.40 ▼ -1.05%
Shanghai_Comp 3,661.54 ▼ -33.03 ▼ -0.89%
Taiwan_Weight 8,449.56 ▼ -92.71 ▼ -1.09%
Nikkei_225___ 20,664.44 ▲ 50.38 ▲ 0.24%
Hang_Seng.__ 24,375.28 ▼ -138.88 ▼ -0.57%
Strait_Times.__ 3,196.66 ▲ 5.27 ▲ 0.17%
NZX_50_Index_ 5,928.69 ▼ -9.82 ▼ -0.17%
http://finance.yahoo.com/news/media...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3
Media companies lead a broad decline in US stocks
Viacom, other media stocks sink as traders worry about fading cable TV revenue; Keurig plunges
Associated Press By Matthew Craft, AP Business Writer
NEW YORK (AP) -- Big media companies led the stock market lower Thursday as investors fretted over fading revenue from cable television. Viacom and 21st Century Fox were among the hardest hit.
Major indexes headed higher in the first few minutes of trading before pulling a quick U-turn. The selling gained momentum until the afternoon, when the indexes recovered some of their losses.
Walt Disney and other media giants sank following signs that more people are cancelling their cable TV. Viacom, the company behind Comedy Central and Nickelodeon, reported Thursday that its sales and profit fell in the most recent quarter. 21st Century Fox, which owns MTV, also reported a drop in television revenue. Viacom's stock plunged 14 percent, and 21st Century Fox lost 6 percent.
"You don't usually see media names move like this," said Rob Eschweiler, a global investment specialist at J.P. Morgan Private Bank in Houston.
The Standard & Poor's 500 index fell 16.28 points, or 0.8 percent, to 2,083.56, and the Nasdaq composite lost 83.50, or 1.6 percent, to 5,056.44. The Dow Jones industrial average lost 120.72, or 0.7 percent, to 17,419.75, the sixth day in a row the Dow has finished with a loss.
Over the past month, the market has been in the habit of making gains one week and losing them all the next. "We've been moving nowhere fast," said Terry Sandven, senior equity strategist at U.S. Bank Wealth Management in Minneapolis. "The market just lacks any direction."
Sandven said he thinks things will change once investors get a clear picture of how quickly the Federal Reserve will raise interest rates for the first time in more than nine years. He's hoping the Fed will make its first move in September.
"It will mean that the Fed thinks the economy is strong enough to handle something other than crisis-level rates," Sandven said.
Among other companies in the news, Keurig Green Mountain plummeted 30 percent, the biggest drop in the S&P 500, after reporting falling sales of its packaged coffee and brewing products. The company said it plans to lay off 5 percent of its workforce in a bid to cut costs. Its stock dropped $22.31 to $52.67.
With the bulk of big companies already handing in results, analysts project that second-quarter earnings at big U.S. companies edged up 0.2 percent, according to S&P Capital IQ. Though meager, it's much better than the 4 percent drop analysts had forecast a month ago.
Investors are looking ahead to the Labor Department's monthly jobs report on Friday. Economists forecast the government report will show employers added 225,000 jobs and the unemployment rate held at 5.3 percent for the second straight month. That level of job creation would buttress expectations that the Fed will lift its benchmark interest rate later this year.
"I think if the Fed doesn't move this year it's going to be a disappointment," Eschweiler said. "It would be a bit of a head scratcher: What do they know that we don't?"
Major markets in Europe ended with slight losses. Germany's DAX lost 0.4 percent, while both France's CAC 40 and Britain's FTSE 100 slipped 0.1 percent.
In Asia, Japan's benchmark Nikkei 225 inched up 0.2 percent while South Korea's Kospi lost 0.8 percent. Hong Kong's Hang Seng fell 0.6 percent and the Shanghai Composite fell 0.9 percent. Benchmarks in Taiwan, Indonesia, the Philippines and New Zealand also finished lower.
Back in the U.S., government bond prices rose, pushing the yield on the 10-year Treasury note down to 2.22 percent from 2.27 percent the day before.
In commodity trading, gold rose $4.50 to settle at $1,090.10 an ounce, and silver gained 12 cents to $14.68. Copper lost a penny to $2.34 a pound.
The price of oil fell near its low for the year as a Goldman Sachs report predicting that oil prices would be "lower for longer" reinforced concerns that have driven oil lower over the past six weeks. U.S. crude fell 49 cents to close at $44.66 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 7 cents to close at $49.52 in London.
In other futures trading on the NYMEX:
”” Wholesale gasoline fell 2.3 cents to close at $1.648 a gallon.
”” Heating oil rose 1.1 cents to close at $1.550 a gallon.
”” Natural gas rose 1.5 cents to close at $2.813 per 1,000 cubic feet.
The NYSE DOW closed LOWER ▼ -120.72 points or ▼ -0.69% on Thursday, 6 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,419.75 ▼ -120.72 ▼ -0.69%
Nasdaq____ 5,056.44 ▼ -83.50 ▼ -1.62%
S&P_500___ 2,083.56 ▼ -16.28 ▼ -0.78%
30_Yr_Bond____ 2.91 ▼ -0.04 ▼ -1.22%
NYSE Volume 4,248,628,000
Nasdaq Volume 2,246,570,000
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,747.09 ▼ -5.32 ▼ -0.08%
DAX_____ 11,585.10 ▼ -51.20 ▼ -0.44%
CAC_40__ 5,192.11 ▼ -4.62 ▼ -0.09%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,600.10 ▼ -59.40 ▼ -1.05%
Shanghai_Comp 3,661.54 ▼ -33.03 ▼ -0.89%
Taiwan_Weight 8,449.56 ▼ -92.71 ▼ -1.09%
Nikkei_225___ 20,664.44 ▲ 50.38 ▲ 0.24%
Hang_Seng.__ 24,375.28 ▼ -138.88 ▼ -0.57%
Strait_Times.__ 3,196.66 ▲ 5.27 ▲ 0.17%
NZX_50_Index_ 5,928.69 ▼ -9.82 ▼ -0.17%
http://finance.yahoo.com/news/media...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3
Media companies lead a broad decline in US stocks
Viacom, other media stocks sink as traders worry about fading cable TV revenue; Keurig plunges
Associated Press By Matthew Craft, AP Business Writer
NEW YORK (AP) -- Big media companies led the stock market lower Thursday as investors fretted over fading revenue from cable television. Viacom and 21st Century Fox were among the hardest hit.
Major indexes headed higher in the first few minutes of trading before pulling a quick U-turn. The selling gained momentum until the afternoon, when the indexes recovered some of their losses.
Walt Disney and other media giants sank following signs that more people are cancelling their cable TV. Viacom, the company behind Comedy Central and Nickelodeon, reported Thursday that its sales and profit fell in the most recent quarter. 21st Century Fox, which owns MTV, also reported a drop in television revenue. Viacom's stock plunged 14 percent, and 21st Century Fox lost 6 percent.
"You don't usually see media names move like this," said Rob Eschweiler, a global investment specialist at J.P. Morgan Private Bank in Houston.
The Standard & Poor's 500 index fell 16.28 points, or 0.8 percent, to 2,083.56, and the Nasdaq composite lost 83.50, or 1.6 percent, to 5,056.44. The Dow Jones industrial average lost 120.72, or 0.7 percent, to 17,419.75, the sixth day in a row the Dow has finished with a loss.
Over the past month, the market has been in the habit of making gains one week and losing them all the next. "We've been moving nowhere fast," said Terry Sandven, senior equity strategist at U.S. Bank Wealth Management in Minneapolis. "The market just lacks any direction."
Sandven said he thinks things will change once investors get a clear picture of how quickly the Federal Reserve will raise interest rates for the first time in more than nine years. He's hoping the Fed will make its first move in September.
"It will mean that the Fed thinks the economy is strong enough to handle something other than crisis-level rates," Sandven said.
Among other companies in the news, Keurig Green Mountain plummeted 30 percent, the biggest drop in the S&P 500, after reporting falling sales of its packaged coffee and brewing products. The company said it plans to lay off 5 percent of its workforce in a bid to cut costs. Its stock dropped $22.31 to $52.67.
With the bulk of big companies already handing in results, analysts project that second-quarter earnings at big U.S. companies edged up 0.2 percent, according to S&P Capital IQ. Though meager, it's much better than the 4 percent drop analysts had forecast a month ago.
Investors are looking ahead to the Labor Department's monthly jobs report on Friday. Economists forecast the government report will show employers added 225,000 jobs and the unemployment rate held at 5.3 percent for the second straight month. That level of job creation would buttress expectations that the Fed will lift its benchmark interest rate later this year.
"I think if the Fed doesn't move this year it's going to be a disappointment," Eschweiler said. "It would be a bit of a head scratcher: What do they know that we don't?"
Major markets in Europe ended with slight losses. Germany's DAX lost 0.4 percent, while both France's CAC 40 and Britain's FTSE 100 slipped 0.1 percent.
In Asia, Japan's benchmark Nikkei 225 inched up 0.2 percent while South Korea's Kospi lost 0.8 percent. Hong Kong's Hang Seng fell 0.6 percent and the Shanghai Composite fell 0.9 percent. Benchmarks in Taiwan, Indonesia, the Philippines and New Zealand also finished lower.
Back in the U.S., government bond prices rose, pushing the yield on the 10-year Treasury note down to 2.22 percent from 2.27 percent the day before.
In commodity trading, gold rose $4.50 to settle at $1,090.10 an ounce, and silver gained 12 cents to $14.68. Copper lost a penny to $2.34 a pound.
The price of oil fell near its low for the year as a Goldman Sachs report predicting that oil prices would be "lower for longer" reinforced concerns that have driven oil lower over the past six weeks. U.S. crude fell 49 cents to close at $44.66 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 7 cents to close at $49.52 in London.
In other futures trading on the NYMEX:
”” Wholesale gasoline fell 2.3 cents to close at $1.648 a gallon.
”” Heating oil rose 1.1 cents to close at $1.550 a gallon.
”” Natural gas rose 1.5 cents to close at $2.813 per 1,000 cubic feet.
Attachments
bigdog
Retired many years ago
- Joined
- 19 July 2006
- Posts
- 8,127
- Reactions
- 5,482
Source: http://finance.yahoo.com
The NYSE DOW closed LOWER ▼ -46.37 points or ▼ -0.27% on Friday, 7 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,373.38 ▼ -46.37 ▼ -0.27%
Nasdaq____ 5,043.54 ▼ -12.90 ▼ -0.26%
S&P_500___ 2,077.57 ▼ -5.99 ▼ -0.29%
30_Yr_Bond____ 2.83 ▼ -0.08 ▼ -2.72%
NYSE Volume 3,599,693,250
Nasdaq Volume 1,988,408,750
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,718.49 ▼ -28.60 ▼ -0.42%
DAX_____ 11,490.83 ▼ -94.27 ▼ -0.81%
CAC_40__ 5,154.75 ▼ -37.36 ▼ -0.72%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,472.30 ▼ -127.80 ▼ -2.28%
Shanghai_Comp 3,744.20 ▲ 82.67 ▲ 2.26%
Taiwan_Weight 8,442.29 ▼ -7.27 ▼ -0.09%
Nikkei_225___ 20,724.56 ▲ 60.12 ▲ 0.29%
Hang_Seng.__ 24,552.47 ▲ 177.19 ▲ 0.73%
Strait_Times.__ 3,196.66 ▲ 0.00 ▲ 0.00%
NZX_50_Index_ 5,868.66 ▼ -60.03 ▼ -1.01%
http://finance.yahoo.com/news/us-stocks-drop-solid-jobs-200736154.html
US stocks drop after solid jobs report suggests higher rates
US stocks drop as solid jobs report keeps alive the prospect of higher rates this year
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- U.S. stocks fell Friday after a solid jobs report kept alive the possibly that the Federal Reserve may raise interest rates as soon as next month.
It was the seventh straight day of declines for the Dow Jones industrial average. That's the longest losing streak for the index since July 2011, when investors were worried that the U.S. would slip back into recession.
Stocks started the day lower after the report was released and stayed there throughout the day. Fed policy makers have held rates at close to zero for more than six years to stimulate the economy after the Great Recession. The low rates have been good for the stock market, helping fuel a bull-market run that has lasted since March, 2009.
U.S. employers added 215,000 jobs in July, the Labor Department said Friday, another signal that the job market is steadily improving and providing another key piece of data for the Fed as it assesses whether the U.S. economy can withstand higher interest rates.
While the number was slightly below the 225,000 jobs Wall Street economists were forecasting, traders said the data was still good enough to show that the U.S. economy is continuing to improve.
"Today's number was not weak enough to dissuade the Fed," said Jurrien Timmer, director of global macro at Fidelity Investments, who predicts that the Fed will raise rates for the first time since 2006 in September.
The Dow lost 46.37 points, or 0.3 percent, to 17,373.38. The index is now down 2.5 percent for the year, and is about 5 percent below its record close of 18,312.39 set May 19.
The Standard & Poor's 500 index fell 5.99 points, or 0.3 percent, to 2,077.57 and the Nasdaq composite fell 12.90 points, or 0.3 percent, to 5,043.54.
Among individual stocks, American Express was a big mover.
The credit card company jumped $4.72, or 6.3 percent, to $79.72 after Bloomberg reported that activist investors ValueAct Capital Management had amassed a $1 billion stake in the company and would press for changes there that would benefit investors.
In bond trading, yields on two- and three-year Treasury notes rose immediately after the jobs report was published.
The yield on the two-year note climbed to 0.72 percent from 0.69 percent on Thursday. It was as low as 0.41 percent in January. Shorter-dated Treasuries would be most affected by the Fed raising rates.
The yield on the 10-year Treasury note fell to 2.17 percent from 2.23 percent a day earlier.
In currency trading, the dollar fell against the euro and the yen. The euro rose to 1.096 and the dollar dropped to 124.23 yen.
In other markets, the price of oil fell for the sixth trading day out of the last seven as the number of rigs operating in the U.S. rose, reinforcing expectations that a global supply glut will persist.
U.S. crude fell 79 cents to close at $43.87 a barrel in New York, nearing a six-year low of $43.46 set on March 17. For the week, crude fell 7 percent. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 91 cents Friday to close at $48.61 in London.
The slump in crude helped push energy stocks lower again. The sector is down 16 percent this year, making it the worst performer in the S&P 500.
In other energy futures trading, wholesale gasoline fell 2.5 cents to close at $1.623 a gallon. Heating oil fell 0.6 cents to close at $1.544 a gallon. Natural gas fell 1.5 cents to close at $2.798 per 1,000 cubic feet.
In metals trading, the price of gold rose $4 to $1,094.10 an ounce. Silver climbed 14.4 cents to $14.82 an ounce. Copper fell 0.8 cents to $2.33 a pound.
2189
The NYSE DOW closed LOWER ▼ -46.37 points or ▼ -0.27% on Friday, 7 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,373.38 ▼ -46.37 ▼ -0.27%
Nasdaq____ 5,043.54 ▼ -12.90 ▼ -0.26%
S&P_500___ 2,077.57 ▼ -5.99 ▼ -0.29%
30_Yr_Bond____ 2.83 ▼ -0.08 ▼ -2.72%
NYSE Volume 3,599,693,250
Nasdaq Volume 1,988,408,750
Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,718.49 ▼ -28.60 ▼ -0.42%
DAX_____ 11,490.83 ▼ -94.27 ▼ -0.81%
CAC_40__ 5,154.75 ▼ -37.36 ▼ -0.72%
Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,472.30 ▼ -127.80 ▼ -2.28%
Shanghai_Comp 3,744.20 ▲ 82.67 ▲ 2.26%
Taiwan_Weight 8,442.29 ▼ -7.27 ▼ -0.09%
Nikkei_225___ 20,724.56 ▲ 60.12 ▲ 0.29%
Hang_Seng.__ 24,552.47 ▲ 177.19 ▲ 0.73%
Strait_Times.__ 3,196.66 ▲ 0.00 ▲ 0.00%
NZX_50_Index_ 5,868.66 ▼ -60.03 ▼ -1.01%
http://finance.yahoo.com/news/us-stocks-drop-solid-jobs-200736154.html
US stocks drop after solid jobs report suggests higher rates
US stocks drop as solid jobs report keeps alive the prospect of higher rates this year
Associated Press By Ken Sweet, AP Business Writer
NEW YORK (AP) -- U.S. stocks fell Friday after a solid jobs report kept alive the possibly that the Federal Reserve may raise interest rates as soon as next month.
It was the seventh straight day of declines for the Dow Jones industrial average. That's the longest losing streak for the index since July 2011, when investors were worried that the U.S. would slip back into recession.
Stocks started the day lower after the report was released and stayed there throughout the day. Fed policy makers have held rates at close to zero for more than six years to stimulate the economy after the Great Recession. The low rates have been good for the stock market, helping fuel a bull-market run that has lasted since March, 2009.
U.S. employers added 215,000 jobs in July, the Labor Department said Friday, another signal that the job market is steadily improving and providing another key piece of data for the Fed as it assesses whether the U.S. economy can withstand higher interest rates.
While the number was slightly below the 225,000 jobs Wall Street economists were forecasting, traders said the data was still good enough to show that the U.S. economy is continuing to improve.
"Today's number was not weak enough to dissuade the Fed," said Jurrien Timmer, director of global macro at Fidelity Investments, who predicts that the Fed will raise rates for the first time since 2006 in September.
The Dow lost 46.37 points, or 0.3 percent, to 17,373.38. The index is now down 2.5 percent for the year, and is about 5 percent below its record close of 18,312.39 set May 19.
The Standard & Poor's 500 index fell 5.99 points, or 0.3 percent, to 2,077.57 and the Nasdaq composite fell 12.90 points, or 0.3 percent, to 5,043.54.
Among individual stocks, American Express was a big mover.
The credit card company jumped $4.72, or 6.3 percent, to $79.72 after Bloomberg reported that activist investors ValueAct Capital Management had amassed a $1 billion stake in the company and would press for changes there that would benefit investors.
In bond trading, yields on two- and three-year Treasury notes rose immediately after the jobs report was published.
The yield on the two-year note climbed to 0.72 percent from 0.69 percent on Thursday. It was as low as 0.41 percent in January. Shorter-dated Treasuries would be most affected by the Fed raising rates.
The yield on the 10-year Treasury note fell to 2.17 percent from 2.23 percent a day earlier.
In currency trading, the dollar fell against the euro and the yen. The euro rose to 1.096 and the dollar dropped to 124.23 yen.
In other markets, the price of oil fell for the sixth trading day out of the last seven as the number of rigs operating in the U.S. rose, reinforcing expectations that a global supply glut will persist.
U.S. crude fell 79 cents to close at $43.87 a barrel in New York, nearing a six-year low of $43.46 set on March 17. For the week, crude fell 7 percent. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 91 cents Friday to close at $48.61 in London.
The slump in crude helped push energy stocks lower again. The sector is down 16 percent this year, making it the worst performer in the S&P 500.
In other energy futures trading, wholesale gasoline fell 2.5 cents to close at $1.623 a gallon. Heating oil fell 0.6 cents to close at $1.544 a gallon. Natural gas fell 1.5 cents to close at $2.798 per 1,000 cubic feet.
In metals trading, the price of gold rose $4 to $1,094.10 an ounce. Silver climbed 14.4 cents to $14.82 an ounce. Copper fell 0.8 cents to $2.33 a pound.
2189
