NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 241.79 points or ▲ 1.39% on Monday, 10 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,615.17 ▲ 241.79 ▲ 1.39%
Nasdaq____ 5,101.80 ▲ 58.25 ▲ 1.16%
S&P_500___ 2,104.18 ▲ 26.61 ▲ 1.28%
30_Yr_Bond____ 2.90 ▲ 0.08 ▲ 2.65%

NYSE Volume 3,517,299,750
Nasdaq Volume 1,765,535,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,736.22 ▲ 17.73 ▲ 0.26%
DAX_____ 11,604.78 ▲ 113.95 ▲ 0.99%
CAC_40__ 5,195.41 ▲ 40.66 ▲ 0.79%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,504.90 ▲ 32.60 ▲ 0.60%
Shanghai_Comp 3,928.42 ▲ 184.21 ▲ 4.92%
Taiwan_Weight 8,466.84 ▲ 24.55 ▲ 0.29%
Nikkei_225___ 20,808.69 ▲ 84.13 ▲ 0.41%
Hang_Seng.__ 24,521.12 ▼ -31.35 ▼ -0.13%
Strait_Times.__ 3,196.66 ▲ 0.00 ▲ 0.00%
NZX_50_Index_ 5,865.02 ▼ -3.64 ▼ -0.06%

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

US stocks jump as oil's bounce boosts energy stocks

US stocks jump, led by resurgent energy stocks; Precision Castparts soars on Buffett deal
Associated Press By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- A resurgent energy sector and another big acquisition by Warren Buffett propelled the stock market to its best day in three months on Monday.

Energy stocks jumped, following the price of oil higher. Crude rebounded after dropping to its lowest level of the year in early trading. Industrial stocks also climbed sharply after Buffett's Berkshire Hathaway agreed to buy Precision Castparts, a maker of industrial components, for $32 billion.

The pace of corporate deal making has been surging this year as borrowing costs have stayed low, making it easier for companies to fund acquisitions. That tends to push up stock prices because buyers typically pay a premium to make the deal attractive to shareholders.

"Any time you have mergers and acquisitions, especially of this size, that's a good sign because corporate America is feeling good about the economic prospects," said Peter Cardillo, chief market economist at Rockwell Global Capital.

The Standard & Poor's 500 index rose 26.61 points, or 1.3 percent, to 2,104.18. It was the biggest gain for the index since May 8.

The Dow Jones industrial average rose 241.79 points, or 1.4 percent, to 17,615.17. The Nasdaq composite climbed 58.25 points, or 1.2 percent, to 5,101.80.

The gains also ended a seven-day losing streak for the Dow Jones industrial average, its longest run of losses in four years. Some mixed earnings reports and the slump in oil have weighed on the 30-member index in the past three weeks.

Some investors are also anticipating that the Federal Reserve may raise interest rates next month. That's unnerving for them because rates close to zero have been a major factor in driving a bull-market in stocks that has lasted for more than six years.

Precision Castparts was the biggest gainer in the S&P 500. The stock jumped $37.04, or 19 percent, to $230.92. Berkshire will pay $235 per share in cash for Precision Castparts' outstanding stock. The deal is valued at about $37.2 billion including debt.

Energy stocks were also among the biggest gainers as oil rose, rebounding from heavy losses last week. The sector jumped 3 percent as companies including Exxon Mobil and Chevron climbed.

The price of oil posted a strong gain after briefly dipping below its lowest close for the year. U.S. crude climbed $1.09 to close at $44.96 a barrel in New York. Early Monday oil dipped a penny below its $43.46 March 17 close, its lowest in six years. Brent crude, a benchmark for international oils used by many U.S. refineries, rose $1.80 to close at $50.41 in London.

Despite Monday's rebound, oil is still down almost 60 percent from its peak last year.

About 90 percent of the companies in the S&P 500 have reported their second-quarter results, and average earnings for companies in the index are flat for the period. However, that's masking a big slump in energy company earnings. If the energy sector is excluded, profits rose 7.7 percent, according to S&P Capital IQ data.

That's a good sign for some investors.

"Once you start digging into the numbers the only sector that is really messing things up is energy," said Brad McMillan, Chief Investment Officer for Commonwealth Financial Network. "Everything else is doing pretty well."

Twitter was another beaten-up stock that had a good day on Monday.

The social media company got a lift after the company signed a two-year content and advertising deal with the National Football League. Also, interim CEO and co-founder Jack Dorsey increased his stake in the embattled social media company.

Twitter, which has fallen sharply this year as its growth has disappointed investors, jumped $2.46, or 9.1 percent, to $29.50.

U.S. government bond prices fell. The yield on the benchmark 10-year Treasury note climbed to 2.23 percent from 2.17 percent on Friday. The dollar rose to 124.62 yen. The euro rose to $1.1019.

The price of gold rose $10 to $1,104.10 an ounce, silver gained 47 cents to $15.29 an ounce and copper increased seven cents to $2.40 a pound.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 7.1 cents to close at $1.694 a gallon.

”” Heating oil rose 4.8 cents to close at $1.592 a gallon.

”” Natural gas rose 1.5 cents to close at $2.842 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -212.33 points or ▼ -1.21% on Tuesday, 11 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,402.84 ▼ -212.33 ▼ -1.21%
Nasdaq____ 5,036.79 ▼ -65.01 ▼ -1.27%
S&P_500___ 2,084.07 ▼ -20.11 ▼ -0.96%
30_Yr_Bond____ 2.80 ▼ -0.10 ▼ -3.38%

NYSE Volume 3,711,294,000
Nasdaq Volume 1,885,242,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,664.54 ▼ -71.68 ▼ -1.06%
DAX_____ 11,293.65 ▼ -311.13 ▼ -2.68%
CAC_40__ 5,099.03 ▼ -96.38 ▼ -1.86%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,473.10 ▼ -31.80 ▼ -0.58%
Shanghai_Comp 3,927.91 ▼ -0.51 ▼ -0.01%
Taiwan_Weight 8,394.14 ▼ -72.70 ▼ -0.86%
Nikkei_225___ 20,720.75 ▼ -87.94 ▼ -0.42%
Hang_Seng.__ 24,498.21 ▼ -22.91 ▼ -0.09%
Strait_Times.__ 3,153.06 ▼ -43.60 ▼ -1.36%
NZX_50_Index_ 5,822.35 ▼ -42.67 ▼ -0.73%

http://finance.yahoo.com/news/us-stocks-oil-prices-sink-134248847.html

US stocks, oil prices sink after China currency move

US stocks fall as China currency move raises growth worries; oil plunges to six-year low
Associated Press By Steve Rothwell, AP Business Writer

NEW YORK (AP) -- A move by China's government to devalue its currency set off a sharp sell-off in global financial markets Tuesday as investors worried about the health of the world's second-largest economy.

China's government said the move to weaken the yuan was a result of reforms intended to make its exchange rate more market-oriented. However, most investors interpreted the action as an attempt by authorities to stimulate a slowing economy. A cheaper yuan will benefit China's exports by making them less expensive overseas.

The move triggered a wave of selling. Oil, copper and other commodity prices fell as traders anticipated weaker demand from China. That led to big drops energy and materials stocks. Companies that derive a large part of their sales from China, like Apple and Yum Brands, also fell sharply.

"China is the second-largest economy in the world, and they are certainly going through a stage right now where growth is not as robust as it has been," said Michael Scanlon, a managing director at John Hancock Asset Management. "China is one of the biggest risks to the equity market as a whole."

The Standard & Poor's 500 index fell 20.11 points, or 1 percent, to 2,084.07. The Dow Jones industrial average lost 212.33 points, or 1.2 percent, to 17,402.84. The Nasdaq composite index fell 65.01 points, or 1.3 percent, to 5,036.79

The Chinese government allowed the yuan to fall 1.9 percent, the biggest one-day drop in a decade. In recent months, the yuan has strengthened along with the U.S. dollar, hurting Chinese exporters. China's exports fell by an unexpectedly large 8.3 percent in July. The yuan was valued at 6.32 per dollar on Tuesday, compared with 6.21 per dollar a day earlier.

Yum Brands, the owner of the KFC and Taco Bell chains, was among the biggest decliners in the S&P 500. The fast-food company gets more than half of its sales from China. The company said last month that it was expecting a strong second-half of the year in China. Yum fell $4.28, or 4.9 percent, to $83.54.

Apple, another company that makes a lot of money in China, dropped $6.23, or 5.2 percent, to $113.49 and Wynn Resorts, which generates more than half of its revenue from the Chinese gambling hub of Macau, slipped $2.39, or 4.3 percent, to $54.36.

The price of oil had another big drop, closing at its lowest level in six years. Oil prices also fell after OPEC said its production increased to a 3-year high, adding further evidence of a global supply glut. U.S. crude fell $1.88 to settle at $43.08 a barrel in New York, its lowest close since March of 2009. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.23 to close at $49.18 in London.

The losses for stocks on Tuesday wiped out a large part of the gains from a day earlier, when the market logged its largest advance in three months as the price of oil logged a big gain and some corporate deal news boosted investor sentiment.

Investors shouldn't be too worried by the big moves in market prices, said David Kelly, chief Global Strategist at JPMorgan Funds, because the moves were likely being exacerbated by low trading activity during the summer months.

"It's another sign of softness in the global economy and that's what is hurting the market today," Kelly said. "But I wouldn't make too much of the violent reaction because it's a rather thin market to say the least."

Google was one of the biggest gainers in the S&P 500 on Tuesday.

The tech giant gained after it announced a new structure for the company that included separating its lucrative internet business from some of its more speculative research projects. Investors welcomed the increase in transparency that will give them a better idea of how the technology giant spends its cash. Google's stock gained $27.16, or 4.1 percent, to $690.30.

Bond prices rose sharply as investors snapped up safer assets. The yield on the 10-year Treasury note, which moves in the opposite direction to its price, fell to 2.14 percent from 2.23 percent on Monday.

The dollar rose to 125.18 yen from 124.82 yen Monday. The euro rose to $1.1047 from $1.1021.

European markets were mostly lower. France's CAC-40 fell 1.9 percent, and Germany's DAX lost 2.7 percent. Britain's FTSE 100 shed 1.1 percent.

Gold climbed $3.60 to $1,107.70 an ounce and silver was little changed at $15.28 an ounce. Copper dropped 6.9 cents to $2.33 per pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ -0.33 points or ▲ 0.00% on Wednesday, 12 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,402.51 ▼ -0.33 ▲ 0.00%
Nasdaq____ 5,044.39 ▲ 7.60 ▲ 0.15%
S&P_500___ 2,086.05 ▲ 1.98 ▲ 0.10%
30_Yr_Bond____ 2.82 ▲ 0.01 ▲ 0.50%

NYSE Volume 4,271,092,000
Nasdaq Volume 2,049,813,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,571.19 ▼ -93.35 ▼ -1.40%
DAX_____ 10,924.61 ▼ -369.04 ▼ -3.27%
CAC_40__ 4,925.43 ▼ -173.60 ▼ -3.40%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,383.50 ▼ -89.60 ▼ -1.64%
Shanghai_Comp 3,886.32 ▼ -41.59 ▼ -1.06%
Taiwan_Weight 8,283.38 ▼ -110.76 ▼ -1.32%
Nikkei_225___ 20,392.77 ▼ -327.98 ▼ -1.58%
Hang_Seng.__ 23,916.02 ▼ -582.19 ▼ -2.38%
Strait_Times.__ 3,061.49 ▼ -91.57 ▼ -2.90%
NZX_50_Index_ 5,757.22 ▼ -65.13 ▼ -1.12%

http://finance.yahoo.com/news/us-stocks-wobble-then-recover-204131734.html

US stocks wobble, then recover after China currency weakens

US stocks wobble after a second day of weakening in China's currency, then recover lost ground
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- Another drop in China's currency shook markets around the world for a second straight day amid rising concerns about the world's second-largest economy. Major markets in Europe slumped, while the U.S. stock market recovered from an early drop to finish nearly flat.

China's central bank let its currency fall again on Wednesday, following a surprising devaluation the day before. The move jolted markets in Europe, home to big companies that rely on China's growing middle class to buy their products.

Major indexes in the U.S. started the day with steep losses, as investors sold shares in Tiffany, YUM! Brands and other companies with significant sales in China. By the afternoon the worst of it was over, and the broader market spent the rest of the day climbing back to where it started.

"Clearly, emotions are running high today," said Jack Ablin, chief investment officer at BMO Private Bank. Ablin said the market's sudden turns reflect the uncertainty surrounding China's actions. "It's really about a fear of the unknown," he said.

The Standard & Poor's 500 index finished with a gain of 1.98 points, or 0.1 percent, at 2,086.05.

The Dow Jones industrial average lost 0.33 of a point to close at 17,402.51, while the Nasdaq composite inched up 7.60 points, or 0.2 percent, to 5,044.39.

China's government said its moves were attempts to make the country's exchange rate more responsive to the market. But a weaker yuan also benefits China by making exports cheaper to overseas customers. Many investors considered the devaluation a sign that China's economy is in worse shape than official reports suggest.

"There's a lot of uncertainty right now," said David Joy, chief market strategist for Ameriprise Financial. "What does this tell us about how weak their economy is? And is this going to spread their weakness to other countries?"

The news from China battered European markets for a second day running. Germany's DAX dropped 3.3 percent, France's CAC 40 dropped 3.4 percent, while Britain's FTSE 100 lost 1.4 percent.

In Asia, Japan's Nikkei 225 fell 1.6 percent and Australia's S&P/ASX 200 fell 1.7 percent. Hong Kong's Hang Seng lost 2.4 percent, and the Shanghai Composite Index lost 1.1 percent.

Back in the U.S., Alibaba Group slumped after posting sales that fell short of Wall Street's high expectations, even though first-quarter income for China's top Internet retailer more than doubled. Alibaba dropped $3.96, or 5.1 percent, to $73.38.

Macy's reported a drop in quarterly profits and sales on Wednesday as the department-store chain's results were hobbled by delayed deliveries and a strong dollar. The company also cut its sales forecast for the rest of the year. Macy's lost $3.42, or 5.1 percent, to $64.11.

In other markets, U.S. government bond prices edged down, nudging the yield on the 10-year Treasury to 2.15 percent from 2.14 percent the day before. The dollar slipped to $1.1161 for every euro and weakened to 124.22 Japanese yen.

Precious and industrial metals ended broadly higher. Gold added $15.90 to $1,123.60 an ounce, silver added 19 cents to $15.48 an ounce and copper crept up two cents to $2.35 a pound.

Crude oil rose 22 cents to close at $43.30 a barrel, bouncing off a six-year low reached the previous day. Brent crude, an international benchmark, added 48 cents to close at $49.66 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline rose 7 cents to close at $1.764 a gallon.

”” Heating oil rose 2.4 cents to close at $1.587 a gallon.

”” Natural gas rose 8.7 cents to close at $2.931 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 5.74 points or ▲ 0.03% on Thursday, 13 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,408.25 ▲ 5.74 ▲ 0.03%
Nasdaq____ 5,033.56 ▼ -10.83 ▼ -0.21%
S&P_500___ 2,083.39 ▼ -2.66 ▼ -0.13%
30_Yr_Bond____ 2.86 ▲ 0.04 ▲ 1.35%

NYSE Volume 3,224,403,750
Nasdaq Volume 1,609,554,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,568.33 ▼ -2.86 ▼ -0.04%
DAX_____ 11,014.63 ▲ 90.02 ▲ 0.82%
CAC_40__ 4,986.85 ▲ 61.42 ▲ 1.25%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,389.00 ▲ 5.50 ▲ 0.10%
Shanghai_Comp 3,954.56 ▲ 68.24 ▲ 1.76%
Taiwan_Weight 8,311.74 ▲ 28.36 ▲ 0.34%
Nikkei_225___ 20,595.55 ▲ 202.78 ▲ 0.99%
Hang_Seng.__ 24,018.80 ▲ 102.78 ▲ 0.43%
Strait_Times.__ 3,091.78 ▲ 30.29 ▲ 0.99%
NZX_50_Index_ 5,737.69 ▼ -19.53 ▼ -0.34%

http://finance.yahoo.com/news/us-stocks-close-mixed-chinas-200613464.html

US stocks close mixed as China's currency stabilizes

US markets closed mixed as China soothes concerns over further drops in its currency
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- The anxiety that rattled markets earlier this week dissipated Thursday as China's central bank calmed concerns that the country's currency would continue its slide. Major markets in Europe and Asia made gains, while the U.S. stock market finished with a slight loss.

Officials from China's central bank defended recent moves to loosen the government's grip on its currency, saying that the yuan will eventually rebound from its recent fall. There is "no basis for persistent and substantial devaluation," said a deputy central bank governor, Zhang Xiaohui. The yuan is close to "market levels" after two days of sharp drops, Zhang said.

Beijing's surprise devaluation of its currency shook markets around the world this week, upending stocks, commodities and currencies.

"I think the central bankers have given people a reason to believe they're not that worried," said Jason Pride, director of investment strategy at Glenmede, a money management firm. "That's why we're seeing some recovery today."

The major U.S. stock indexes spent much of Thursday changing course. They fell in the morning, climbed higher in the afternoon then drifted lower in the final hour of trading.

The Standard & Poor's 500 index lost 2.66 points, or 0.1 percent, to close at 2,083.39.

The Dow Jones industrial gained 5.74 points, less than 0.1 percent, to 17,408.25 and the Nasdaq composite lost 10.83 points, or 0.2 percent, to 5,033.56.

"This week it has really been all about China's move and trying to interpret what its broader impact might be," said Stephen Freedman, senior investment strategist at UBS Wealth Management. "Now it seems cooler heads are prevailing. People are saying, 'Maybe this might not be as big of a deal as feared.'"

A handful of big companies turned in quarterly results. The department-store chain Kohl's reported quarterly sales and earnings that fell short of analysts' estimates. The news knocked its stock down $5.39, or 9 percent, to $56.11.

Cisco Systems surged after posting quarterly results that topped analysts' expectations after the market closed on Wednesday. The maker of computer networking equipment credited rising revenue from selling data-center servers and its collaboration with other businesses. Cisco's stock gained 80 cents, or 3 percent, to $28.70, the biggest gain of any company in the Dow.

Major Asian benchmarks finished higher after a two-day slump. Japan's Nikkei 225 rose 1 percent, and South Korea's Kospi gained 0.4 percent. In China, Hong Kong's Hang Seng climbed 0.4 percent, while the Shanghai Composite Index on the mainland added 1.8 percent.

In Europe, Germany's DAX gained 0.8 percent and France's CAC-40 climbed 1.2 percent The FTSE 100 index of leading British shares finished with a tiny loss.

U.S. government bonds sank, lifting the yield on the 10-year Treasury note to 2.19 percent from 2.15 percent late Wednesday.

In the commodity markets, gold fell $8 to settle at $1,115.60 an ounce, while silver sank 8 cents to $15.40 an ounce. Copper picked up a fraction of a penny to $2.35 a pound.

The price of oil slipped to another six-year low Thursday on continuing concerns about high global supplies. U.S. crude fell $1.07 to close at $42.23, its lowest close since March 3, 2009. Brent crude, an international benchmark, fell 44 cents to close at $49.22 in London.

In other futures trading on the New York Mercantile Exchange:

”” Wholesale gasoline fell 5 cents to close at $1.714 a gallon.

”” Heating oil fell 1.8 cents to close at $1.569 a gallon.

”” Natural gas fell 14.4 cents to close at $2.787 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 69.15 points or ▲ 0.40% on Friday, 14 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,477.40 ▲ 69.15 ▲ 0.40%
Nasdaq____ 5,048.24 ▲ 14.68 ▲ 0.29%
S&P_500___ 2,091.54 ▲ 8.15 ▲ 0.39%
30_Yr_Bond____ 2.84 ▼ -0.02 ▼ -0.56%

NYSE Volume 2,795,424,000
Nasdaq Volume 1,464,258,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,550.74 ▼ -17.59 ▼ -0.27%
DAX_____ 10,985.14 ▼ -29.49 ▼ -0.27%
CAC_40__ 4,956.47 ▼ -30.38 ▼ -0.61%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,360.00 ▼ -29.00 ▼ -0.54%
Shanghai_Comp 3,965.33 ▲ 10.78 ▲ 0.27%
Taiwan_Weight 8,305.64 ▼ -6.10 ▼ -0.07%
Nikkei_225___ 20,519.45 ▼ -76.10 ▼ -0.37%
Hang_Seng.__ 23,991.03 ▼ -27.77 ▼ -0.12%
Strait_Times.__ 3,114.25 ▲ 22.47 ▲ 0.73%
NZX_50_Index_ 5,696.45 ▼ -41.24 ▼ -0.72%

http://finance.yahoo.com/news/slow-growth-world-technology-stocks-151413636.html

In a slow-growth world, technology stocks are trending again

Technology stocks, attractive in a slow-growth world, are dominating the market again
Associated Press By Steve Rothwell and Michael Liedtke, AP Business Writers

NEW YORK (AP) -- Technology stocks are trending big-time as investors latch on to innovative companies racing ahead in a slow-growth world.

The tech-heavy Nasdaq is the best performing major U.S. stock index this year, gaining 6.6 percent as the Standard & Poor's 500 and the Dow Jones Industrial averages have wavered between small gains and losses.

The industry has re-established itself as the dominant sector in the U.S. stock market and currently accounts for 20 percent of the value of the S&P 500 index. That is tech's largest share since the dot-com bubble, and makes it the biggest sector in the market.

But the sector's success isn't universal. Some of the most recent earnings reports from big tech companies have highlighted both the good and the bad for the industry.

Here are three positive trends for tech, and two negative ones.

ROOM TO GROW

The economy is still expanding, but at a tepid pace.

Tech companies, however, are generating rapidly rising sales and profits as they disrupt older industries. And that is drawing in investors.

Many think the Internet boom that ended in 2000 was just the first leg in a wave of technology growth.

"The global digital economy is in its infancy. It's still being constructed," says Joe Quinlan, chief market strategist at U.S. Trust in New York. "So we have tremendous upside when it comes to social media, e-commerce, retailing, you name it."

Facebook's revenue jumped 39 percent in the second quarter. That compares with a 4 percent fall for S&P 500 companies in the period. Revenue at business software company Salesforce.com, which hasn't released its second-quarter figures yet, has tripled over the last five years.

SURPRISINGLY AFFORDABLE

Despite its run-up, the sector is not that pricey. In fact, tech stocks are trading at a slight discount to the market.

The average price-earnings ratio, a measure of how much investors are willing to pay for each dollar of earnings, is 16.2 for tech companies in the S&P 500. That is below the 16.5 ratio for the entire index, meaning that tech as a group is fractionally cheaper than the overall market.

"I don't see a valuations bubble," says Jeremy Zirin, head of investment strategy at UBS Wealth Management in New York. "It's not that there isn't froth in some areas, it's just not that pervasive."

Even after a 19-fold increase in the price of Apple's stock during the past decade, it's difficult to argue that it costs too much.

The P/E for Apple's stock is 12, considerably less than the average tech company and the overall market.

Google is another giant with modest valuations.

The Internet company's stock surged in mid-July after it reported better-than-expected earnings for the first time since October 2013. It rose further this month after it announced that it was changing its corporate structure. The change was welcomed by investors who want more transparency about how Google spends its money.

Investors also liked what they heard from Google's new chief financial officer, Ruth Porat, a Wall Street veteran, who has delivered a message of newfound austerity.

Businesses are still moving to the Internet and increasing their spending on advertising, trends that are far from over, says Matt Peron, managing director of global equity at Northern Trust, an asset manager. Those trends should benefit Google, the dominant force in online search and marketing.

That outlook, combined with a reasonable valuation, makes Google an attractive stock to own, he says. The company's P/E is 20.7, above the average for the S&P 500, but not excessively so.

DIVIDENDS

During the last Internet boom, tech companies developed reputations for being extravagant spenders. The money was spent chasing growth, not pleasing shareholders.

Nowadays, many of the larger, more established tech companies are returning cash to shareholders in the form of dividend payments.

Two-thirds of technology firms in the S&P 500 pay a dividend, according to S&P Dow Jones Indices, accounting for 15 percent of all dividend payments made by companies in the index. Some of the biggest names in the sector even pay better-than-average dividends.

Microsoft has a 2.6 percent dividend yield, which measures how much a company pays in dividends compared to its stock price. The S&P 500 average is 1.9 percent. IBM and Intel are also offering higher rates than the market.

Those quarterly payments are especially appealing to investors in an era of extraordinarily low yields in other investments, such as high-quality bonds.

WATCH OUT FOR FROTH

Investors may be getting carried away with the prospects for some stocks. Netflix is an example.

The company has been on an incredible run. Since bottoming out at a split-adjusted $7.54 in August 2012, the stock has soared 16-fold to peak at $126.45 on Aug. 6.

Netflix has added 38 million subscribers around the world during the past three years while expanding into dozens of countries. It's solidified its position as the leader in streaming video.

But investors are paying a high price for that growth. The P/E on the stock has jumped to 427 this year.

If those lofty expectations for earnings growth are not met, an uncomfortable adjustment could follow.

Twitter's stock, for example, has lost almost half its value from a peak in October as the company struggles to satisfy investors' demands for revenue and user growth. And online business review company Yelp has dropped 70 percent since its September high as it grapples with the market's expectations.

OVERSEAS EXPOSURE

Tech is the most exposed of all the S&P 500 sectors to demand from overseas.

About 60 percent of the sector's revenue comes from abroad, according S&P Dow Jones Indices.

As a result, earnings in the group will be hit if the dollar continues to strengthen, as it has done over the past two years. That's because a stronger dollar reduces the value of overseas sales and makes U.S.-produced goods more expensive for foreign buyers.

Microsoft and eBay were two technology companies that lamented the impact of the stronger dollar in their most recent earnings.

Tech companies are also vulnerable to weaker growth in economies overseas. That was illustrated this week when Apple slumped on worries that the Chinese economy was slowing more markedly than investors thought.

Apple's stock dropped 5.2 percent on Tuesday after the Chinese government devalued its currency, the yuan. Most analysts saw the move as an attempt to prop up growth.

The iPhone maker generates almost 17 percent of its sales from China.

2748

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 67.78 points or ▲ 0.39% on Monday, 17 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,545.18 ▲ 67.78 ▲ 0.39%
Nasdaq____ 5,091.70 ▲ 43.46 ▲ 0.86%
S&P_500___ 2,102.44 ▲ 10.90 ▲ 0.52%
30_Yr_Bond____ 2.80 ▼ -0.04 ▼ -1.41%

NYSE Volume 2,856,123,500
Nasdaq Volume 1,492,165,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,550.30 ▼ -0.44 ▼ -0.01%
DAX_____ 10,940.33 ▼ -44.81 ▼ -0.41%
CAC_40__ 4,984.83 ▲ 28.36 ▲ 0.57%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,368.60 ▲ 8.60 ▲ 0.16%
Shanghai_Comp 3,993.67 ▲ 28.33 ▲ 0.71%
Taiwan_Weight 8,213.42 ▼ -92.22 ▼ -1.11%
Nikkei_225___ 20,620.26 ▲ 100.81 ▲ 0.49%
Hang_Seng.__ 23,814.65 ▼ -176.38 ▼ -0.74%
Strait_Times.__ 3,067.35 ▼ -46.90 ▼ -1.51%
NZX_50_Index_ 5,727.42 ▲ 30.97 ▲ 0.54%

http://finance.yahoo.com/news/stocks-climb-chinas-currency-steadies-212949358.html

Stocks climb as China's currency steadies, homebuilders rise

US stocks end broadly higher as China currency steadies and homebuilders rise; oil falls again
Associated Press By Bernard Condon, AP Business Writer

NEW YORK (AP) -- The U.S. stock market climbed on Monday as China's currency steadied and optimism among homebuilders rose.

Investors pushed the market lower at the open, then began buying after an index of homebuilders showed optimism at its highest since the housing boom a decade ago. Gains were modest, but broad as nine of the 10 industry groups of the Standard & Poor's 500 index ended the day higher, led by health care stocks.

"This continues to be a resilient market," said Henry Smith, chief investment officer at Haverford Trust. "The averages came back."

Global news was mixed. The Chinese yuan barely changed, which was a relief to investors rattled last week by a drop of as much as 3 percent in the currency after its surprise devaluation. Oil prices, meanwhile, fell below $42 a barrel for the first time in 6-1/2 years, and investors reacted by dumping stocks of drillers and other energy-related companies.

The S&P 500 ended the day up 10.90 points, or 0.5 percent, to 2,102.44. The Dow Jones industrial average rose 67.78 points, or 0.4 percent, to 17,545.18. The Nasdaq composite climbed 43.46 points, or 0.9 percent, to 5,091.70.

The gains for the S&P 500 pushed the index to roughly where it was a week earlier, before stocks around the world tumbled on the Chinese news.

Bill Strazzullo, chief market strategist at Bell Curve Trading, said trading on Monday fits a recent pattern of investors toughing it out in the face of scary headlines.

"We've weathered Greece, we've weathered the slowdown in China, we've weather trouble in our own economy and yet we're in spitting distance of all-time highs," he said. "People are still bullish."

Investors are hoping for good results from retail earnings reports this week, including Wal-Mart and Home Depot on Tuesday, Target and Lowe's on Wednesday, and Gap on Thursday. Overall, S&P 500 earnings per share are expected to be flat in the second quarter from a year earlier, the worst results in nearly six years, according to research firm S&P Capital IQ.

In economic news, a report showed manufacturing activity in New York state contracted in August at the fastest pace since the Great Recession.

Among other companies making big moves:

— Zulily, a company that offers flash sales online, soared 49 percent after QVC-owner Liberty Interactive offered to buy it for $2.32 billion. The stock rose $6.17 to $18.74.

— Lennar jumped $1.40, or 2.7 percent, to $53.94 after the National Association of Home Builders/Wells Fargo index showed builder sentiment rose this month to the highest level since November 2005.

— Estee Lauder's stock slid the most in the S&P 500 after the company fell short of revenue forecasts. Its outlook in future quarters also disappointed. The stock dropped $6.02, or 6.8 percent, to $82.80.

In Japan, the Nikkei rose after government data showed Asia's second-biggest economy contracted 1.6 percent in the April-June quarter because of bad weather and slowing China demand. But those trends raised hopes of fresh stimulus. Prime Minister Shinzo Abe has championed a huge monetary easing program aimed at kick-starting economic growth.

In oil trading, U.S. crude fell 63 cents to close at $41.87 on the contraction in Japan, the world's third-largest oil consumer. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 45 cents to close at $48.74.

In foreign exchange markets, the dollar bought 6.394 Chinese yuan and the euro was flat at $1.1081. In Japan, the dollar held steady at 124.41 yen.

Gold futures edged up $5.70 to $1,118.60 an ounce. Silver rose 8.5 cents to $15.298 an ounce. Copper slipped 3.2 cents to $2.333 a pound

Prices of U.S. government bonds rose, tugging down the yield on the 10-year Treasury note to 2.17 percent from 2.20 percent late Friday.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 3.3 cents to close at $1.654 a gallon.

— Heating oil fell 0.3 cents to close at $1.555 a gallon.

— Natural gas fell 7.3 cents to close at $2.728 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -33.84 points or ▼ -0.19% on Tuesday, 18 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,511.34 ▼ -33.84 ▼ -0.19%
Nasdaq____ 5,059.35 ▼ -32.35 ▼ -0.64%
S&P_500___ 2,096.92 ▼ -5.52 ▼ -0.26%
30_Yr_Bond____ 2.86 ▲ 0.06 ▲ 2.21%

NYSE Volume 2,940,810,500
Nasdaq Volume 1,485,547,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,526.29 ▼ -24.01 ▼ -0.37%
DAX_____ 10,915.92 ▼ -24.41 ▼ -0.22%
CAC_40__ 4,971.25 ▼ -13.58 ▼ -0.27%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,309.40 ▼ -59.20 ▼ -1.10%
Shanghai_Comp 3,748.16 ▼ -245.50 ▼ -6.15%
Taiwan_Weight 8,177.22 ▼ -36.20 ▼ -0.44%
Nikkei_225___ 20,554.47 ▼ -65.79 ▼ -0.32%
Hang_Seng.__ 23,474.97 ▼ -339.68 ▼ -1.43%
Strait_Times.__ 3,049.65 ▼ -17.70 ▼ -0.58%
NZX_50_Index_ 5,710.77 ▼ -16.65 ▼ -0.29%

http://finance.yahoo.com/news/us-stocks-fizzle-wal-mart-201914894.html

US stocks fizzle as Wal-Mart falls and China slumps

US stocks end lower as Wal-Mart cuts profit forecast and China's market slumps
Associated Press By Matthew Craft, AP Business Writer

NEW YORK (AP) -- The U.S. stock market shuffled to a slight loss in a lazy day of summer trading Tuesday.

Wal-Mart's shares slid after the retailer cut its profit forecast for the year, while renewed concerns over the strength of China's economy weighed on companies that depend on customers there.

But the broader market looked aimless. The major indexes headed lower at the opening of trading, turned higher just before lunchtime, then slowly lost ground throughout the afternoon.

"We're in the summer doldrums," said Jim Paulsen, chief investment strategist at Wells Capital Management. "Most people are staying cool on the lake somewhere."

Another reason for the markets' recent drift, Paulsen said, is that the news hasn't been all that surprising. "People know about China's problems, they know about falling commodity prices," he said. "They've digested a lot of the news that's out there already."

The Standard & Poor's 500 index slipped 5.52 points, or 0.3 percent, to close at 2,096.92. The benchmark for most mutual funds has lost just 7 points this month.

The Dow Jones industrial average lost 33.84 points, or 0.2 percent, to end at 17,511.34, and the Nasdaq composite sank 33.35 points, or 0.6 percent, to 5,059.35.

In other trading, Wal-Mart fell 3 percent after warning that its annual profit will likely fall short of previous estimates, partly because of a strong dollar. The world's largest retailer also reported a drop in quarterly earnings as it spent more on wages and overhauling U.S. stores. Shares slid $2.43 to $69.48.

Other retailers fared better. TJX, the company behind T.J. Maxx, reported rising earnings and sales and raised its estimate for annual profit. The news shot its stock up $5.17, or 7 percent, to $76.78, the biggest gain in the S&P 500.

Overseas, China's main Shanghai stock index took another plunge, losing 6 percent. It was the index's largest one-day drop since an 8 percent dive on July 27 and happened even though Beijing banned major shareholders from selling stocks.

"All the news out of China recently has done nothing to restore confidence in its financial markets," said David Madden, market analyst at IG, "and the ripple effect can be felt in Europe."

Major European markets closed with slight losses. France's CAC-40 slipped 0.3 percent, and Britain's FTSE 100 fell 0.4 percent. Germany's DAX lost 0.2 percent. Worries over China, a key customer for German-made machinery, chemicals and other goods, have helped knock the DAX down 3.5 percent so far this month.

Back in the U.S., Lennar, D.R. Horton and other companies in the housing market jumped following news that builders started work on single-family homes at the fastest pace since 2007.

Government bond prices dipped, nudging the yield on the 10-year Treasury note up to 2.19 percent.

Precious and industrial metals settled broadly lower. Gold slipped $1.50 to $1,117.10 an ounce, while silver sank 51 cents to $14.79 an ounce. Copper lost 4 cents to $2.30 a pound.

The price of oil inched above its recent six-year low, though analysts expect the supply glut that has pushed prices lower to persist. U.S. crude rose 75 cents to close at $42.62 in New York. Brent crude for October delivery, an international benchmark, rose 7 cents to close at $48.81 in London.

In other futures trading on the NYMEX:

”” Wholesale gasoline fell 0.7 cent to close at $1.647 a gallon.

”” Heating oil rose 0.4 cent to close at $1.559 a gallon.

”” Natural gas fell 2.4 cents to close at $2.704 per 1,000 cubic feet.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -162.61 points or ▼ -0.93% on Wednesday, 19 August 2015
Symbol …........Last …......Change.......
Dow_Jones 17,348.73 ▼ -162.61 ▼ -0.93%
Nasdaq____ 5,019.05 ▼ -40.29 ▼ -0.80%
S&P_500___ 2,079.61 ▼ -17.31 ▼ -0.83%
30_Yr_Bond____ 2.82 ▼ -0.04 ▼ -1.54%

NYSE Volume 3,506,208,000
Nasdaq Volume 1,761,758,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,403.45 ▼ -122.84 ▼ -1.88%
DAX_____ 10,682.15 ▼ -233.77 ▼ -2.14%
CAC_40__ 4,884.10 ▼ -87.15 ▼ -1.75%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,379.80 ▲ 70.40 ▲ 1.33%
Shanghai_Comp 3,794.11 ▲ 45.95 ▲ 1.23%
Taiwan_Weight 8,021.84 ▼ -155.38 ▼ -1.90%
Nikkei_225___ 20,222.63 ▼ -331.84 ▼ -1.61%
Hang_Seng.__ 23,167.85 ▼ -307.12 ▼ -1.31%
Strait_Times.__ 3,041.25 ▼ -8.40 ▼ -0.28%
NZX_50_Index_ 5,750.03 ▲ 39.26 ▲ 0.69%

http://finance.yahoo.com/news/stocks-lower-fed-minutes-keep-181212194.html

Stocks lower as Fed minutes keep rate increase in play

Stocks fall, following global sell-off; Fed minutes show bank still pondering rate hike
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks posted solid losses on Wednesday as investors got mixed signals from the Federal Reserve over the possibility of an interest rate hike in September. Energy stocks fell as the price of oil plummeted.

The Dow Jones industrial average lost 162.61 points, or 0.9 percent, to 17,348.73. The Standard & Poor's 500 index lost 17.31 points, or 0.8 percent, to 2,079.61 and the Nasdaq composite index lost 40.30 points, or 0.8 percent, to 5,019.05.

The minutes from the Federal Reserve's July meeting gave no specific clues on whether the central bank's officials were poised to raise interest rates in September. Stocks recovered some of their losses after the release of the Fed minutes, but the modest recovery dissipated and the market basically ended the day roughly where it was most of the session.

In the minutes, Fed officials appeared to move closer to raising interest rates for the first time in nearly a decade but remained concerned that the economic slowdown in China could pose risks to the U.S. economy. Policy makers also expressed concerns that inflation, noting the recent sharp decline in commodity prices, remains too low to justify an interest rate increase.

"We don't come away from the minutes feeling more confident about our call for a September rate hike as we might have hoped," said Michelle Girard, an economist at RBS.

Bond yields fell sharply as bond traders took the Fed minutes as a sign that interest rates were going to remain at near-zero levels for several more months. The U.S. 10-year Treasury note fell to a yield of 2.12 percent from 2.19 percent on Tuesday. Most traders believe the Fed will either raise interest rates in September or wait until early 2016.

"In their heart of hearts Fed officials want to raise interest rates this year. But with commodity prices as low as they are, it could give the Fed pause," said Alan Rechtschaffen of UBS.

Benchmark U.S. crude dropped $1.95 to $41.17 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.96 to $46.88 per barrel. Oil's losses deepened after data from the U.S. government showed oil inventories rose much more than expected last week.

Energy stocks followed crude oil lower. Marathon Oil fell 7 percent, Chevron fell 3 percent and Exxon Mobil fell 2 percent, respectively.

In other futures trading on the NYMEX, wholesale gasoline fell 8.8 cents to close at $1.559 a gallon. Heating oil fell 4.1 cents to close at $1.518 a gallon. Natural gas rose 1.2 cents to close at $2.716 per 1,000 cubic feet.

Overseas, China's stock market roiled Asian and European stocks, on fears that the country's currency, the yuan, will continue to erode. Chinese stocks ended higher but only after a turbulent day that included sharp losses early on. The Shanghai Composite Index closed up 1.2 percent after plunging as much as 5 percent. European stocks ended the day down roughly 2 percent.

The euro rose to $1.1065 while the dollar was down against the Japanese Yen at 124.08 yen.

Gold closed up $11.00 to $1,127.90 an ounce, silver rose 39 cents to $15.18 an ounce and copper fell a penny to $2.27 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -358.04 points or ▼ -2.06% on Thursday, 20 August 2015
Symbol …........Last …......Change.......
Dow_Jones 16,990.69 ▼ -358.04 ▼ -2.06%
Nasdaq____ 4,877.49 ▼ -141.56 ▼ -2.82%
S&P_500___ 2,035.73 ▼ -43.88 ▼ -2.11%
30_Yr_Bond____ 2.75 ▼ -0.06 ▼ -2.31%

NYSE Volume 3,918,239,750
Nasdaq Volume 2,052,310,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,367.89 ▼ -35.56 ▼ -0.56%
DAX_____ 10,432.19 ▼ -249.96 ▼ -2.34%
CAC_40__ 4,783.55 ▼ -100.55 ▼ -2.06%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,295.50 ▼ -84.30 ▼ -1.57%
Shanghai_Comp 3,664.29 ▼ -129.82 ▼ -3.42%
Taiwan_Weight 8,029.81 ▲ 7.97 ▲ 0.10%
Nikkei_225___ 20,033.52 ▼ -189.11 ▼ -0.94%
Hang_Seng.__ 22,757.47 ▼ -410.38 ▼ -1.77%
Strait_Times.__ 3,009.78 ▼ -31.47 ▼ -1.03%
NZX_50_Index_ 5,742.46 ▼ -7.57 ▼ -0.13%

http://finance.yahoo.com/news/dow-drops-358-points-china-213620268.html

Dow drops 358 points after China fears spur global sell-off

US stock market endures worst day in 18 months over worries about China, global growth
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- The U.S. stock market endured its worst performance in 18 months on Thursday, driven lower by another slump in Chinese shares and heavy selling by technical traders.

The global rout started in China, where sharp declines in energy and property stocks pushed the Shanghai Composite down more than 3 percent. That selling soon spread to European and U.S. markets, where the Standard & Poor's 500 index moved further below a closely watched trading level.

Investors, facing screens full of red, retreated to their usual places of safety: bonds, gold and cash.

"The emerging markets really got slammed overnight and that quickly spread to the rest of the world," said J.J. Kinahan, chief strategist at TD Ameritrade.

The Dow Jones industrial average plunged 358.04 points, or 2.1 percent, to 16,990.69. The S&P 500 dropped 43.88 points, or 2.1 percent, to 2,035.73 and the Nasdaq composite lost 141.56 points, or 2.8 percent, to 4,877.49.

It was the biggest percentage decline for the Dow and S&P 500 since February 2014. The blue chip index is now at its lowest level since October 2014.

Buyers of stocks were few and far between. Selling outweighed buying by a ratio of more than eight to one in heavy trading. Still, even with the sell-off, the S&P 500 was down just 4.5 percent from its record close of 2,130.82 on May 21.

As the selling picked up Thursday, investors moved money to traditional havens in times of uncertainty.

Gold rose $25.30, or 2.2 percent, to $1,153.20 an ounce, the metal's best day since April. Demand for ultra-safe U.S. government bonds rose, pulling down the yield on the benchmark 10-year Treasury note to 2.07 percent from 2.13 late Wednesday. The 10-year's yield stood at 2.19 percent only two days before, and its decline since then represents a major decline.

Worries over China, the world's second-largest economy, spurred Thursday's losses. The Shanghai Composite Index dropped 3.4 percent. Chinese shares have had a wild ride this week and that has raised questions about Beijing's ability to stabilize the market and the devaluation of that nation's currency.

The move has caused other countries to devalue their own currencies, notably oil-rich Kazakhstan and the manufacturing hub of Vietnam.

Strategists and traders, noting the lack of major U.S. economic news on Thursday, said the drop in stocks was also likely tied to programmed selling, which came after the S&P 500 moved below one of its most closely watched indicators, a 200-day moving average.

While many investors buy and sell stocks based on a company's business outlook, there is a different class of trader who relies on such technical indicators to make investment decisions.

"I see this drop as likely because we crossed the 200-day moving average, and that's causing us to have further selling," said Scott Wren, chief global equity strategist at the Wells Fargo Investment Institute.

Media stocks were hit particularly hard. Walt Disney shares fell $6.43, or 6 percent, to $100.02. Analysts are concerned that viewers are moving away from cable, which could hurt lucrative Disney properties such as ESPN.

Viacom, owner of CBS, fell 6 percent as well while Twenty-First Century Fox slipped 4 percent.

The year's biggest winners also were hit hard, possibly a sign that investors feel the seven-year bull market for stocks might be slowing down. Netflix, which is up about 130 percent since January, fell 8 percent. Gilead Sciences dipped 3 percent and Google declined 2 percent.

The price of benchmark U.S. oil rose slightly but remains near its low point of March 2009. U.S. crude rose 34 cents to $41.14 in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, fell 54 cents to $46.62 in London.

In other futures trading, wholesale gasoline fell 2.4 cents to close at $1.535 a gallon. Heating oil fell 2.2 cents to close at $1.496 a gallon. Natural gas rose 3.9 cents to close at $2.755 per 1,000 cubic feet.

In metals, silver rose 34 cents to $15.52 an ounce and copper rose 4 cents to $2.32 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -530.94 points or ▼ -3.12% on Friday, 21 August 2015
Symbol …........Last …......Change.......
Dow_Jones 16,459.75 ▼ -530.94 ▼ -3.12%
Nasdaq____ 4,706.04 ▼ -171.45 ▼ -3.52%
S&P_500___ 1,970.89 ▼ -64.84 ▼ -3.19%
30_Yr_Bond____ 2.75 ▼ -0.01 ▼ -0.25%

NYSE Volume 4,996,503,500
Nasdaq Volume 2,596,979,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,187.65 ▼ -180.24 ▼ -2.83%
DAX_____ 10,124.52 ▼ -307.67 ▼ -2.95%
CAC_40__ 4,630.99 ▼ -152.56 ▼ -3.19%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,224.80 ▼ -70.70 ▼ -1.34%
Shanghai_Comp 3,507.74 ▼ -156.55 ▼ -4.27%
Taiwan_Weight 7,786.92 ▼ -242.89 ▼ -3.02%
Nikkei_225___ 19,435.83 ▼ -597.69 ▼ -2.98%
Hang_Seng.__ 22,409.62 ▼ -347.85 ▼ -1.53%
Strait_Times.__ 2,971.01 ▼ -38.77 ▼ -1.29%
NZX_50_Index_ 5,751.19 ▲ 8.73 ▲ 0.15%

http://finance.yahoo.com/news/fears-over-global-slowdown-hammer-191757929.html#

Fears over global slowdown hammer US stocks for 2nd day

US stocks join global market rout for 2nd day on worries over China; Nasdaq nears a correction
Associated Press By Bernard Condon and Matthew Craft, AP Business Writers

NEW YORK (AP) -- Growing concerns about a slowdown in China shook markets around the world on Friday, driving the U.S. stock market to its biggest drop in nearly four years.

The rout started in Asia and quickly spread to Europe, battering major markets in Germany and France. In the U.S., the selling started early and never let up. Investors ditched beaten-down oil companies, as well as Netflix, Apple and other technology darlings. Oil plunged below $40 for the first time since the financial crisis, and government bonds rallied as investors raced into hiding spots.

"Investors are wondering if growth isn't coming from the U.S. or China, where is it going to come from?" said Tim Courtney, CIO of Exencial Wealth Advisors. "This is about growth."

By the time it was over, the Standard and Poor's 500 index had lost 5.8 percent for the week, its worst weekly slump since 2011. That leaves the main benchmark for U.S. investments 7.7 percent below its all-time high -- within shooting range of what traders call a "correction," a 10 percent drop from a peak.

Markets began falling last week after China announced a surprise devaluation of its currency, the yuan. Investors have interpreted China's move as a sign that flagging growth in world's second-largest economy could be worse than government reports suggest. On Friday, they got more bad news: A private survey showed another drop in manufacturing on the mainland.

The Standard & Poor's 500 index dropped 64.84 points, or 3.2 percent, to close at 1,970.89.

The Dow Jones industrial average fell 530.94 points, or 3.1 percent, to 16,459.75. That's 10 percent off its high, a correction.

The Nasdaq slid 171.45 points, or 3.5 percent, to 4,706.04.

"Concerns about slowing growth in China are certainly valid," said Jeremy Zirin, head of investment strategy at UBS Wealth Management. "But there doesn't seem to be any signal that the weakness abroad is slipping into the U.S. economy."

Investors pointed to other reasons behind the recent sell-off, such as falling prices for oil and other commodities as well as the relatively high prices investors pay for U.S. stocks compared with corporate earnings.

"All of this is coming at a time when we haven't had a correction since the summer of 2012," Zirin said.

Roberto Perli, head of global monetary policy research at Cornerstone Macro, said the market's recent slump likely means the Federal Reserve won't raise its benchmark interest rate at its September meeting. Fed officials gathering next month will have to weigh the global pressures against evidence of a solid U.S. job market and improving U.S. economic growth.

"They have the luxury of being able to wait and see what happens," Perli said. "But if the meeting was tomorrow, it's probably fair to say that they wouldn't tighten given all the turmoil in the global markets."

For all the markets' jitters, many economists say they remain confident that the U.S. economy is resilient enough to withstand a slowdown in the developing world. And Europe's economy appears to be emerging from its long slump.

Major markets in Europe finished with deep losses on Friday. France's CAC-40 fell 3.2 percent while Germany's DAX lost 2.9 percent. In Britain, the FTSE 100 index dropped 2.8 percent.

In Asia, the Shanghai Composite index suffered another steep drop of 4.3 percent. Japan's Nikkei 225 lost 3 percent, South Korea's Kospi shed 2 percent and Hong Kong's Hang Seng fell 1.5 percent.

Back in the U.S., government bond prices rose, pushing the yield on the 10-year Treasury note to 2.04 percent.

In the commodity markets, gold gained $6.40 to settle at $1,159.60 an ounce, while silver slipped 22 cents to $15.30 an ounce. Copper lost 2 cents to $2.30 a pound.

The price of U.S. oil briefly dipped below $40 a barrel for the first time since March of 2009. U.S. crude fell 69 cents to close at $40.45 in New York. At one point, it fell as low as $39.86 in midday trading. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.16 to close at $45.46 in London.

In other trading on the NYMEX:

— Wholesale gasoline rose 1 cent to close at $1.545 a gallon.

— Heating oil fell 3.4 cents to close at $1.462 a gallon.

— Natural gas fell 7.9 cents to close at $2.676 per 1,000 cubic feet.

3392

 

[bigdog]

The Dow plummeted 1,089 points Monday within the first four minutes of the opening bell as traders dumped shares. But a wave of buying by bargain-hunters cut the Dow's losses by half just five minutes later.

The Dow ended up losing 588.47 points, or 3.6 percent, closing at 15,871.35

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -588.4 points or ▼ -3.57% on Monday, 24 August 2015
Symbol …........Last …......Change.......
Dow_Jones 15,871.35 ▼ -588.40 ▼ -3.57%
Nasdaq____ 4,526.25 ▼ -179.79 ▼ -3.82%
S&P_500___ 1,893.21 ▼ -77.68 ▼ -3.94%
30_Yr_Bond____ 2.72 ▼ -0.03 ▼ -1.06%

NYSE Volume 6,615,565,000
Nasdaq Volume 3,435,570,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,898.87 ▼ -288.78 ▼ -4.67%
DAX_____ 9,648.43 ▼ -476.09 ▼ -4.70%
CAC_40__ 4,383.46 ▼ -247.53 ▼ -5.35%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,014.20 ▼ -210.60 ▼ -4.03%
Shanghai_Comp 3,209.91 ▼ -297.84 ▼ -8.49%
Taiwan_Weight 7,410.34 ▼ -376.58 ▼ -4.84%
Nikkei_225___ 18,540.68 ▼ -895.15 ▼ -4.61%
Hang_Seng.__ 21,251.57 ▼ -1,158.05 ▼ -5.17%
Strait_Times.__ 2,843.39 ▼ -127.62 ▼ -4.30%
NZX_50_Index_ 5,607.31 ▼ -143.88 ▼ -2.50%

http://finance.yahoo.com/news/stocks-slump-dow-ends-down-214632531.html

Stocks slump; Dow ends down 588 after early 1,000-pt. slide

US stocks slump again over China slowdown; Dow briefly plunges 1,000 points, ends day down 588
Associated Press By Alex Veiga and Steve Rothwell, AP Business Writers

U.S. stocks slid again Monday, with the Dow Jones industrial average briefly plunging more than 1,000 points in a sell-off that sent a shiver of fear from Wall Street to Main Street.

Stocks regained some of that ground as the day wore on, but the Dow finished with a loss of 588 points, the eighth-worst single-day point decline and the second straight fall of more than 500.

The slump — part of a global wave of selling touched off by signs of a slowdown in China, the world's second-largest economy — triggered worries among Wall Street professionals and ordinary Americans who are saving for retirement or a down payment on a house.

With the lease on her car up, health insurance worker Deirdre Ralph of Wayne, New Jersey, had planned to get a less pricey vehicle and invest the savings. Now she's having doubts.

"That money, I wanted to take and put it toward my retirement," said Ralph, 61. "Should I? Or should I just have a great old time?"

The Dow ended up losing 588.47 points, or 3.6 percent, closing at 15,871.35. As scary as the sell-off was, the Dow's decline doesn't even make the list of the Top 10 biggest drops in percentage terms.

The Standard & Poor's 500 index slid 77.68 points, or 3.9 percent, to 1,893.21, and is now in "correction" territory, Wall Street jargon for a drop of at least 10 percent from a recent peak. The last market correction was nearly four years ago.

The Nasdaq composite shed 179.79 points, or 3.8 percent, closing at 4,526.25.

All three major indexes are down for the year.

"There is a lot of fear in the markets," said Bernard Aw, market strategist at IG.

U.S. stocks have been on a bull run for more than six years, after bottoming out in March 2009 in the aftermath of the financial crisis and the Great Recession. The rout began in China last week and continued on Monday, when the country's main stock index sank 8.5 percent.

China concerns aside, U.S. stocks have been primed for a sell-off for several months, said Jim Paulsen, chief investment strategist and economist for Wells Capital Management.

"I've been of the view since late last year that this market is in a vulnerable position," he said. "It's gone almost straight up for six years."

Stocks have kept rising even as corporate earnings growth has slowed. The price-earnings ratio for the S&P 500, a measure of how much investors are willing to pay for each dollar of company earnings, climbed as high as 17.2 in March. That was the highest level in at least a decade, according to FactSet.

The Dow plummeted 1,089 points Monday within the first four minutes of the opening bell as traders dumped shares. But a wave of buying by bargain-hunters cut the Dow's losses by half just five minutes later.

The U.S. market slide was broad. The 10 sectors in the S&P 500 headed lower, with energy stocks recording the biggest decline, 5.2 percent, amid a slump in the price of oil. The sector is down almost 25 percent this year.

U.S. Treasurys surged as investors bought less risky assets. The yield on the benchmark 10-year note fell to 2.01 percent from 2.04 percent.

Oil, commodities and the currencies of many developing countries also tumbled on concerns that a slowdown in China might hurt economic growth around the globe. Crude oil closed below $40 a barrel for the first time since early 2009. Gold and silver also fell.

In Europe, Germany's DAX stock index fell 4.7 percent, while the CAC-40 in France slid 5.4 percent. The FTSE 100 index of leading British shares dropped 4.7 percent.

In Asia, Japan's Nikkei index fell 4.6 percent, its worst one-day drop since in over 2 ½ years. Hong Kong's Hang Seng index fell 5.2 percent, Australia's S&P ASX/200 slid 4.1 percent, and South Korea's Kospi lost 2.5 percent.

The Shanghai index suffered its biggest percentage decline in 8 ½ years. China is facing a slowdown in economic growth, the banking system is short of cash, and investors are pulling money out of the country.

 

[bigdog]

The three major U.S. indexes have now lost ground six days in a row, with the Dow falling about 1,900 points over that period.

The S&P 500 is down 12 percent from its record close of 2,130.82 on May 21.

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -204.91 points or ▼ -1.29% on Tuesday, 25 August 2015
Symbol …........Last …......Change.......
Dow_Jones 15,666.44 ▼ -204.91 ▼ -1.29%
Nasdaq____ 4,506.49 ▼ -19.76 ▼ -0.44%
S&P_500___ 1,867.61 ▼ -25.60 ▼ -1.35%
30_Yr_Bond____ 2.85 ▲ 0.14 ▲ 5.00%

NYSE Volume 5,175,476,000
Nasdaq Volume 2,587,672,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,081.34 ▲ 182.47 ▲ 3.09%
DAX_____ 10,128.12 ▲ 479.69 ▲ 4.97%
CAC_40__ 4,564.86 ▲ 181.40 ▲ 4.14%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,143.80 ▲ 129.60 ▲ 2.58%
Shanghai_Comp 2,964.97 ▼ -244.94 ▼ -7.63%
Taiwan_Weight 7,675.64 ▲ 265.30 ▲ 3.58%
Nikkei_225___ 17,806.70 ▼ -733.98 ▼ -3.96%
Hang_Seng.__ 21,404.96 ▲ 153.39 ▲ 0.72%
Strait_Times.__ 2,886.29 ▲ 42.90 ▲ 1.51%
NZX_50_Index_ 5,613.29 ▲ 5.98 ▲ 0.11%

http://finance.yahoo.com/news/us-stocks-extend-losses-early-204600419.html

US stocks extend losses as early rally fades

Another losing day on Wall Street as early rally fades; Dow sheds more than 200 points
Associated Press By Alex Veiga, AP Business Writer

Just when it looked as if the bleeding had stopped, it started up again.

A rally in U.S. stocks evaporated in the minutes before the closing bell Tuesday, sending the Dow Jones industrial average down more than 200 points and extending Wall Street's losing streak to six days — the longest such stretch in more than three years.

Where the market might bottom out is anyone's guess — not exactly comforting news to anyone whose retirement savings or down payment on a house are tied up in stocks.

The rally came after China lowered interest rates to try to boost its slowing economy. Other world markets surged on the news out of Beijing, and for a while, it looked as if U.S. stocks would follow suit and the global sell-off might stop.

Stocks also got a lift from economic reports showing a rebound in U.S. consumer confidence and sales of new American homes.

At one point Tuesday, the Dow was up as much as 441 points. But sell orders began pouring in in the last 15 minutes of trading, and stocks swung abruptly from positive to negative territory.

The Dow ended with a loss of 204.91 points, or 1.3 percent, at 15,666.44. The Standard & Poor's 500 index fell 25.60 points, or 1.4 percent, to 1,867.61. The Nasdaq composite declined 19.76 points, or 0.4 percent, to 4,506.49.

"The return to a more traditional stimulus from China helped excite many investors," said Jeff Kleintop, chief global investment strategist at Charles Schwab. "But, in fact, this is more likely the start of a longer-term period of volatility."

The three major U.S. indexes have now lost ground six days in a row, with the Dow falling about 1,900 points over that period.

The S&P 500 is down 12 percent from its record close of 2,130.82 on May 21. That puts it in what Wall Street calls a "correction" — a drop of at least 10 percent from its most recent high. It is the S&P's first correction in nearly four years.

The last time the S&P declined six days straight was July 2012.

China, the world's second-largest economy, cut its interest rates for the fifth time in nine months in a renewed effort to shore up growth. The central bank also increased the amount of money available for lending by reducing the reserves banks are required to hold.

A slowdown in China has the potential to significantly crimp demand for oil and other commodities, a ripple effect that could dampen global economic growth.

"The Chinese economy is going to be on this bumpy road for a while, and it will have ebbs and flows that will no doubt have a serious impact on the global economy," said Kamel Mellahi, professor at the Warwick Business School. "What we are seeing now is a dress rehearsal of things to come."

Beyond China, traders are waiting for clarity from the Federal Reserve, which has signaled it could begin raising its key interest rate from near zero for the first time in nearly a decade as early as this year. The Fed isn't expected to deliver a policy update until it wraps up a meeting of policymakers in mid-September.

European markets recovered almost all their losses from Monday's sell-off. Germany's DAX jumped 5 percent, while France's CAC-40 rose 4.1 percent. The FTSE 100 index of leading British shares gained 3.1 percent.

China's central bank took action hours after the country's main stock index closed sharply lower for a fourth day. The Shanghai stock index slumped 7.6 percent, on top of Monday's 8.5 percent loss.

Tokyo's Nikkei 225 also closed lower, sliding 4 percent. But other markets in Asia posted modest recoveries, including Hong Kong and Sydney.

Energy company Pepco Holdings declined the most in the S&P 500 on Tuesday after regulators in Washington rejected its proposed merger with Exelon. Pepco stock shed $4.44, or 16.5 percent, to $22.51.

Best Buy recorded the biggest gain in the index, climbing $3.68, or 12.6 percent, to $32.95, after the home electronics chain reported better-than-expected results for the quarter.

Oil rebounded from its lowest closing level in more than six years. The price of U.S. crude rose $1.07, or 2.8 percent, to $39.31.

U.S. government bond prices fell, pushing up the yield on the 10-year Treasury note to 2.07 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 619.07 points or ▲ 3.95% on Wednesday, 26 August 2015
Symbol …........Last …......Change.......
Dow_Jones 16,285.51 ▲ 619.07 ▲ 3.95%
Nasdaq____ 4,697.54 ▲ 191.05 ▲ 4.24%
S&P_500___ 1,940.51 ▲ 72.90 ▲ 3.90%
30_Yr_Bond____ 2.93 ▲ 0.08 ▲ 2.73%

NYSE Volume 5,331,811,000
Nasdaq Volume 2,609,145,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,979.20 ▼ -102.14 ▼ -1.68%
DAX_____ 9,997.43 ▼ -130.69 ▼ -1.29%
CAC_40__ 4,501.05 ▼ -63.81 ▼ -1.40%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,178.90 ▲ 35.10 ▲ 0.68%
Shanghai_Comp 2,927.29 ▼ -37.68 ▼ -1.27%
Taiwan_Weight 7,715.59 ▲ 39.95 ▲ 0.52%
Nikkei_225___ 18,376.83 ▲ 570.13 ▲ 3.20%
Hang_Seng.__ 21,080.39 ▼ -324.57 ▼ -1.52%
Strait_Times.__ 2,873.00 ▼ -13.29 ▼ -0.46%
NZX_50_Index_ 5,577.78 ▼ -35.51 ▼ -0.63%

http://finance.yahoo.com/news/us-stocks-move-sharply-higher-six-day-slump-140420648--finance.html#

US stocks surge, snapping 6-day losing streak
Associated Press By ALEX VEIGA

The Dow Jones industrial average rocketed more than 600 points Wednesday, its biggest gain in seven years, snapping a six-day losing streak that had Americans nervously checking their investment balances.

While the surge came as a relief to many, Wall Street professionals warned that more rough days lie ahead, in part because of unsettled conditions in China, where signs of an economic slowdown triggered the sell-off that has shaken global markets over the past week.

Heading into Wednesday, the three major U.S. stock indexes had dropped six days in a row, the longest slide in more than three years. The Dow had fallen about 1,900 points over that period, while the slump wiped out more than $2 trillion in corporate value.

On Tuesday, a rally on Wall Street collapsed in the final minutes of trading, with the Dow closing more than 200 points lower. On Wednesday, the market opened strong again, and the question all day was whether the rally would hold. It did, and picked up speed just before the closing bell.

The Dow vaulted 619.07 points, or 4 percent, to 16,285.51. It was the Dow's third-biggest point gain of all time and its largest since Oct. 28, 2008, when it soared 889 points.

The Standard & Poor's 500 index, a much broader measure of the stock market, gained 72.90 points, or 3.9 percent, to 1,940.51. In percentage terms, it was the best day for the S&P 500 in nearly four years. The Nasdaq composite rose 191.05 points, or 4.2 percent, to 4,697.54.

Wall Street professionals said investors apparently saw the big sell-off as an opportunity to go bargain-hunting and buy low. "That always leads to a bounce or spike in the market," said Quincy Krosby, market strategist for Prudential Financial.

Another factor was believed to be a comment on Wednesday from the head of the New York Federal Reserve Bank, William Dudley, who said that because of the slowdown in China and other factors, the case for the Fed to raise rock-bottom interest rates next month for the first time in nearly a decade is "less compelling" than it was a few weeks ago.

"That certainly helped the market," Krosby said.

The U.S. stock market has been on a run-up that has lasted more than six years and pushed the major indexes to all-time highs. Investors worry that the economy could falter if the Fed raises rates too soon.

Over the past few days, ordinary Americans with 401(k)s and other investments have been calling their financial advisers in search of some reassurance.

"I wouldn't say it is full-blown panic," said Brennan Miller, a branch manager for Charles Schwab in Chicago. "Markets have been steadily advancing for several years, and that breathed some complacency. This caught people off guard."

Any sign that the market has bottomed out could encourage investors to get back in.

"There's a lot of cash on the sidelines waiting to get in, so to the extent that there's any sort of bottom seen, that will increase people's confidence and boldness," said Erik Davidson, chief investment officer for Wells Fargo Private Bank.

Still, the market has a ways to go before it recovers its run of recent losses. The Dow remains down 8.6 percent this year, while the S&P 500 is off 5.8 percent. The Nasdaq is down just 0.8 percent.

And despite Wednesday's strong rebound, analysts said there are probably more roller-coaster days ahead, good and bad, because of China as well as worries about a Fed rate increase.

In international markets, major indexes in Germany, France and Britain fell anywhere from 1.3 to 1.7 percent. Markets in Asia were mixed. Japan's Nikkei 225 stock index rose 3.2 percent. Hong Kong's Hang Seng index fell 0.5 percent.

The price of oil fell back below $39 a barrel after a U.S. government report showed an unexpected decline in demand for gasoline. U.S. government bond prices fell, and the yield on the 10-year Treasury note rose to 2.18 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 369.26 points or ▲ 2.27% on Thursday, 27 August 2015
Symbol …........Last …......Change.......
Dow_Jones 16,654.77 ▲ 369.26 ▲ 2.27%
Nasdaq____ 4,812.71 ▲ 115.17 ▲ 2.45%
S&P_500___ 1,987.66 ▲ 47.15 ▲ 2.43%
30_Yr_Bond____ 2.90 ▼ -0.03 ▼ -1.02%

NYSE Volume 4,971,177,000
Nasdaq Volume 2,328,080,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,192.03 ▲ 212.83 ▲ 3.56%
DAX_____ 10,315.62 ▲ 318.19 ▲ 3.18%
CAC_40__ 4,658.18 ▲ 157.13 ▲ 3.49%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,242.60 ▲ 63.70 ▲ 1.23%
Shanghai_Comp 3,083.59 ▲ 156.30 ▲ 5.34%
Taiwan_Weight 7,824.55 ▲ 108.96 ▲ 1.41%
Nikkei_225___ 18,574.44 ▲ 197.61 ▲ 1.08%
Hang_Seng.__ 21,838.54 ▲ 758.15 ▲ 3.60%
Strait_Times.__ 2,945.43 ▲ 72.43 ▲ 2.52%
NZX_50_Index_ 5,634.94 ▲ 57.16 ▲ 1.02%

http://finance.yahoo.com/news/us-stocks-end-sharply-higher-201222177.html

US stocks end sharply higher after Chinese market surges

US stocks jump after Chinese market surges, US economy grew faster than previously estimated
Associated Press By Alex Veiga, AP Business Writer

Investors were in a buying mood again on Thursday, driving U.S. stocks higher for the second straight day as they took advantage of this month's sell-off.

The rally came a day after the stock market delivered its biggest gain in almost four years, ending a steep six-day slump that was triggered by concerns about the health of the Chinese economy.

Energy stocks surged as the price of U.S. oil jumped more than 10 percent, closing back above $40 a barrel.

Investors were encouraged by a big gain in the Chinese stock market as the nation's main index logged its biggest gain in eight weeks. They also welcomed a report indicating that the U.S. economy expanded at a much faster pace than previously estimated in the second quarter.

But mostly it was the opportunity to pick up shares that had been beaten down in the sell-off that drove the rebound. By Tuesday, the Standard & Poor's 500 index had tumbled more than 10 percent from the all-time high that it reached in May.

"Asset prices sold off so much and so drastically, people went in and did start to bottom-fish," said David Lyon, global investment specialist at J.P. Morgan Private Bank in San Francisco.

The Dow Jones industrial average climbed 369.26 points, or 2.3 percent, to 16,654.77. The index has recouped almost 1,000 points in the last two days. That's more than half of its losses during a sharp six-day slump.

The S&P 500 index gained 47.15 points, or 2.4 percent, to 1,987.66. The Nasdaq composite rose 115.17 points, or 2.5 percent, to 4,812.71.

Thursday's market action pushed the three indexes into positive territory for the week and nudged the Nasdaq out of the red for the year. The tech-heavy index now up 1.6 percent for the year, while the Dow and the S&P 500 are still lower.

Financial markets have been volatile since China decided to weaken its currency earlier this month, a move investors interpreted as an attempt to bolster a sagging economy.

But on Thursday the news out of China was more positive. The Shanghai Composite Index rose 5.3 percent, its first gain in six days. The index is rebounding from losses that triggered worldwide selling and wiped nearly 23 percent off its value over the past week.

Traders are also jittery about the outlook for interest rates. The Federal Reserve has signaled it could raise its key interest rate for the first time in nearly a decade later this year.

William Dudley, president of the New York Federal Reserve Bank, said Wednesday that the case for a U.S. interest rate hike in September is "less compelling" given China's troubles, weak oil prices and emerging markets weakness.

Stocks picked up early on Thursday as investors reacted to the rebound in the Chinese stock market and European stock indexes.

The Commerce Department provided a surprise boost, reporting that the economy, as measured by gross domestic product, expanded at an annual rate of 3.7 percent in the April-June quarter. That's a much bigger rebound in growth during the spring that previously estimated, and the strongest growth since last summer.

The report gave investors comfort that the global economy isn't headed for the kind of downturn that could lead into a recession, said Lyon.

"It's an adjustment to a global slowdown where the globe is just going to be growing at a low-to-moderate pace," he said.

All of the 10 sectors in the S&P 500 rose, led by energy stocks. The sector rose 4.9 percent, paring its losses for the year to 20 percent.

Freeport-McMoRan notched the biggest gain in the index. The copper producer said it is cutting spending, production and jobs as it deals with declining copper prices. Its stock climbed $2.27, or 28.7 percent, to $10.19.

Markets overseas also mounted rallies.

Germany's DAX gained 3.2 percent. France's CAC-40 increased 3.5 percent. Britain's FTSE 100 rose 3.6 percent.

In other Asian stock trading, Hong Kong's Hang Seng advanced 2.9 percent to 21,697.31 and Tokyo's Nikkei 225 added 1.1 percent to 18,574.44.

Oil soared to its biggest one-day gain since March 2009, lifted by rising global stock markets and a report showing the U.S. economy grew 3.7 percent in the second quarter. U.S. oil rose $3.96, or 10.3 percent, to $42.56 a barrel. Brent crude, an benchmark for international oils imported by U.S. refineries, rose $4.42, or 10.3 percent, to $47.56 in London.

In metals trading, gold fell $2 to $1,122.60 an ounce. Silver rose 37.60 cents to $14.42 an ounce. Copper gained 8.6 cents to $2.33 per pound.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.19 percent from 2.18 percent on Wednesday.

The dollar rose to 121.02 yen from Wednesday's 119.16 yen. The euro edged down to $1.1242 from the previous session's $1.1337.

In other futures trading:

”” Wholesale gasoline rose 10.19 cents to $1.435 a gallon

”” Heating oil gained 11.51 cents to $1.496 a gallon

”” Natural gas fell 5.5 cents to $2.638 per 1,000 cubic feet.
Rates

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -11.76 points or ▼ -0.07% on Friday, 28 August 2015
Symbol …........Last …......Change.......
Dow_Jones 16,643.01 ▼ -11.76 ▼ -0.07%
Nasdaq____ 4,828.32 ▲ 15.62 ▲ 0.32%
S&P_500___ 1,988.87 ▲ 1.21 ▲ 0.06%
30_Yr_Bond____ 2.91 ▲ 0.01 ▲ 0.24%

NYSE Volume 3,945,702,750
Nasdaq Volume 1,924,061,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,247.94 ▲ 55.91 ▲ 0.90%
DAX_____ 10,298.53 ▼ -17.09 ▼ -0.17%
CAC_40__ 4,675.13 ▲ 16.95 ▲ 0.36%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,274.70 ▲ 32.10 ▲ 0.61%
Shanghai_Comp 3,232.35 ▲ 148.76 ▲ 4.82%
Taiwan_Weight 8,019.18 ▲ 194.63 ▲ 2.49%
Nikkei_225___ 19,136.32 ▲ 561.88 ▲ 3.03%
Hang_Seng.__ 21,612.39 ▼ -226.15 ▼ -1.04%
Strait_Times.__ 2,955.94 ▲ 10.51 ▲ 0.36%
NZX_50_Index_ 5,670.48 ▲ 35.54 ▲ 0.63%

http://finance.yahoo.com/news/calm-wall-street-turbulent-week-214947046.html

Calm on Wall Street: A turbulent week ends on a placid note

Calm on Wall Street: A turbulent week ends on a placid note, but has the storm passed?
Associated Press By Alex Veiga, AP Business Writer

Well, that was exciting.

Days after China threw the biggest scare into Wall Street in years, U.S. stocks have come surging back and ended the week Friday on a placid note that suggested the worst may be over for now.

Even so, investors are buckling their seat belts for more turbulence ahead.

The Dow Jones industrial average fell a scant 11.76 points Friday, or 0.1 percent, to 16,643.01, capping a week that saw stomach-churning losses and gains of around 600 points per day. The Standard & Poor's 500 index rose 1.21 points, or 0.1 percent, to 1,988.87. The Nasdaq composite added 15.62 points, or 0.3 percent, to 4,828.32.

U.S. stocks went into their swoon last week, mostly over signs of a slowdown in China, the world's second-biggest economy. Before the six-day losing streak had ended, the Dow had plummeted 1,900 points and the S&P 500 was undergoing its first "correction," a decline of 10 percent or more, in nearly four years.

But stocks soared at midweek, cutting the Dow's losses nearly in half, in a rally analysts attributed to bargain-hunting, signs that the Federal Reserve may hold off raising interest rates this fall, and a new report that said the U.S. economy is growing at a more robust rate than previously believed.

Still, the concerns that triggered the sell-off remain: slumping oil prices, a slowing Chinese economy, weak corporate earnings forecasts and uncertainty over interest rates.

That means there's likely to be more market volatility ahead, something that history backs up. September has been the worst month for stocks.

"For the last few years, let's face it, there's been very little volatility," said JJ Kinahan, TD Ameritrade's chief strategist. "We've had a very impressive rally. Not that we can't go higher, but it's not going to be an easy path to get there."

The S&P 500 is still nearly three times higher than its post-2008 financial crisis low in March 2009. The Dow is up roughly 2 1/2 times higher.

Despite the bounce-back this week, stocks are on course for their worst monthly performance in more than three years. The S&P 500 is down 5.5 percent in August, and the Dow is down 5.9 percent.

"That kind of volatility is really pretty scary," said Hans Chang, 33, who was visiting New York on Friday. Because he recently left his job, Chang has to sell investments he bought with stock options within 90 days — something he can't do now without taking a big loss.

But for other investors like James Day, a data management specialist in Ferndale, Michigan, the stock market swoon was a signal to buy low and boost his contributions to his 401(k).

"I'm not looking to retire tomorrow, so as far as I'm concerned, I have time," said Day, 43. "If I don't think I'm staring down the barrel of some long-term recession or unemployment, I look at these dips as an opportunity."

Investors can expect the volatility to continue at least until the market gets a better idea from the Fed on the timing of an interest rate increase, something many investors fear could put a damper on the U.S. economy.

Federal Reserve Vice Chairman Stanley Fischer said Friday that before the recent turbulence, there was a "pretty strong case" for raising rates in September. But he said the Fed is watching how events unfold.

Traders and strategists have often described the U.S. stock market as overbought. Even with the wild swings this week, investors are paying close to $18 for every $1 of earnings in the S&P 500 — above the $15 investors have historically paid for stocks after World War II.

"It's still an expensive market," said Kevin Dorwin, managing principal of San Francisco-based Bingham, Osborn & Scarborough. "We still need to see earnings growth or valuations improve, and absent that, it's hard to see how the market can move up."

Rob Lee, 64, of Melbourne, Australia, said he invests only small amounts of money in "very safe securities" because he wants to avoid the risk of sharp drops in the market like the one last week. But he added: "It'll bounce back. It always does."

3917

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -114.98 points or ▼ -0.69% on Monday, 31 August 2015
Symbol …........Last …......Change.......
Dow_Jones 16,528.03 ▼ -114.98 ▼ -0.69%
Nasdaq____ 4,776.51 ▼ -51.82 ▼ -1.07%
S&P_500___ 1,972.18 ▼ -16.69 ▼ -0.84%
30_Yr_Bond____ 2.93 ▲ 0.02 ▲ 0.76%

NYSE Volume 3,910,697,000
Nasdaq Volume 1,773,095,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,247.94 ▲ 55.91 ▲ 0.90% CLOSED BANK HOLIDAY
DAX_____ 10,259.46 ▼ -39.07 ▼ -0.38%
CAC_40__ 4,652.95 ▼ -22.18 ▼ -0.47%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,222.10 ▼ -52.60 ▼ -1.00%
Shanghai_Comp 3,205.99 ▼ -26.36 ▼ -0.82%
Taiwan_Weight 8,174.92 ▲ 155.74 ▲ 1.94%
Nikkei_225___ 18,890.48 ▼ -245.84 ▼ -1.28%
Hang_Seng.__ 21,670.58 ▲ 58.19 ▲ 0.27%
Strait_Times.__ 2,921.44 ▼ -34.50 ▼ -1.17%
NZX_50_Index_ 5,656.24 ▼ -14.24 ▼ -0.25%

http://finance.yahoo.com/news/us-stocks-close-worst-month-201416508.html

US stocks close out their worst month in 3 years

After weeks of turmoil, US stock market closes out its worst month in more than 3 years
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- August was a brutal month for investors.

Fears about a slowdown in China's economy and concerns about when the Federal Reserve will raise interest rates pushed stocks sharply lower this month. While the market recovered much of the ground it lost, the Standard & Poor's 500 index still finished August down 6.3 percent, its worst showing since May 2012.

The selling started midway through the month after China shocked investors by devaluating its currency. The move, an effort to boost China's economy, seemed to have the opposite effect. Global investors interpreted the decision as a sign that China's economy, the second-largest in the world, was growing more slowly than anticipated. That combined with another plunge in Chinese stocks sent off red flags in Asia, Europe and the Americas.

The selling was fierce and deep. Trading volume, which typically slows in summer, spiked. The S&P 500 index at one point fell into what's known as a "correction," which is when an index falls 10 percent or more from a recent high.

On Monday the declines were relatively modest. The Dow Jones industrial average gave up 114.98 points, or 0.7 percent, to close at 16,528.03. The S&P 500 lost 16.69 points, or 0.8 percent, to 1,972.18 and the Nasdaq composite lost 51.82 points, or 1.1 percent, to 4,776.51.

The losses had been deeper, but oil prices, which were solidly lower earlier in the day, jumped after the U.S. Energy Department cut its estimate for the country's oil production. The news sent energy stocks higher, making energy the only industry in the S&P 500 to close with a gain.

U.S. crude surged $3.98, or nearly 9 percent, to $49.20 a barrel in New York. Brent crude, the international standard, jumped $4.10 to $54.15 a barrel in London.

It wasn't like U.S. markets were in perfect shape before China's spooked them. Investors had recently trudged through a corporate earnings season which delivered only meager profit growth.

"Earnings growth is waning and stock valuations are either fully valued or even a little overvalued right now. I think the investor complacency we had earlier in the summer has made this market primed to overact to basically anything out there," said Scott Clemons, chief investment strategist at Brown Brothers Harriman Private Bank.

Things are not likely to change in September. Even setting aside the historical reputation of September being one of the toughest months for the market, investors will have to contend with the Federal Reserve's interest rate meeting on September 16 and 17 and more economic data from the U.S. and China that could drastically swing the market from one way to another.

"Concerns over slowing growth in China are unlikely to go away. Many investors have long awaited signs that China was on the verge of implosion," said Bob Doll, chief equity strategist at Nuveen Asset Management.

Investors are also keeping a close eye on the Federal Reserve.

Fed Vice Chairman Stanley Fischer said over the weekend that policymakers still had a "pretty strong case" for raising rates in September. That ran counter to recent market sentiment that China's economic slowdown and global market volatility might prompt the nation's central bank to wait.

Speaking at the Fed's annual gathering in Jackson Hole, Wyoming, Fischer emphasized he was not saying what action the Fed might take at its September meeting, but analysts took his comments to mean he saw the economy moving close to satisfying the Fed's conditions for a hike. The Fed has kept rates ultra-low since the 2008 financial crisis.

Asian markets had another bumpy day. The Shanghai Composite Index fell as much as 2.6 percent, but recovered to close 0.8 percent lower. Hong Kong's Hang Seng also spent most of the day in the red before closing up 0.3 percent. Tokyo's Nikkei 225 lost 1.3 percent.

European stocks also fell. Germany's DAX lost 0.4 percent and France's CAC-40 lost 0.5 percent. U.K.'s markets were closed for a holiday.

U.S. government bond prices fell. The yield on the 10-year Treasury note rose to 2.22 percent from 2.18 percent late Friday. The dollar declined to 121.22 yen from 121.38 yen on Friday. The euro rose to $1.120 from $1.1180.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -469.68 points or ▼ -2.84% on Tuesday, 1 September 2015
Symbol …........Last …......Change.......
Dow_Jones 16,058.35 ▼ -469.68 ▼ -2.84%
Nasdaq____ 4,636.10 ▼ -140.40 ▼ -2.94%
S&P_500___ 1,913.85 ▼ -58.33 ▼ -2.96%
30_Yr_Bond____ 2.93 ▲ 0.00 ▲ 0.03%

NYSE Volume 4,367,756,500
Nasdaq Volume 2,238,005,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,058.54 ▼ -189.40 ▼ -3.03%
DAX_____ 10,015.57 ▼ -243.89 ▼ -2.38%
CAC_40__ 4,541.16 ▼ -111.79 ▼ -2.40%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,117.10 ▼ -105.00 ▼ -2.01%
Shanghai_Comp 3,166.62 ▼ -39.36 ▼ -1.23%
Taiwan_Weight 8,017.56 ▼ -157.36 ▼ -1.92%
Nikkei_225___ 18,165.69 ▼ -724.79 ▼ -3.84%
Hang_Seng.__ 21,185.43 ▼ -485.15 ▼ -2.24%
Strait_Times.__ 2,882.77 ▼ -38.67 ▼ -1.32%
NZX_50_Index_ 5,654.99 ▼ -1.25 ▼ -0.02%

http://finance.yahoo.com/news/us-stocks-plunge-bleak-chinese-200928294.html

US stocks plunge after bleak Chinese manufacturing report

US, global stocks fall sharply on more signs of weakness in China's economy
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- Stocks plunged again Tuesday, continuing a rocky ride for Wall Street, after an economic report out of China rekindled fears that the world's second-largest economy is slowing more than previously anticipated.

The sell-off adds to what has been a difficult few weeks for U.S. and international markets. U.S. stocks just closed out their worst month in more than three years. Tuesday's drop also dashed hopes that, after some relatively calm trading Friday and Monday, the stock market's wild swings were coming to an end.

"This market remains fragile," said Jack Ablin, chief investment officer at BMO Private Bank. "There's nothing fundamentally wrong with the U.S. economy, but we are going through this correction process. We've got a rocky road ahead of us."

Stocks started the day sharply lower and never recovered, with the Dow Jones industrial average falling as much as 548 points. No part of the market was spared. All 10 sectors of the Standard & Poor's 500 index fell more than 2 percent. Just three stocks in the S&P 500 closed higher.

"Monday's relatively peaceful markets are a distant memory as Chinese data and shares sparked another severe ... reaction from the developed world," said John Briggs, head of fixed income strategy at RBS.

In the end, the Dow lost 469.68 points, or 2.8 percent, to 16,058.35. The S&P 500 fell 58.33 points, or 3 percent, to 1,913.85 and the Nasdaq composite fell 140.40 points, 2.9 percent, to 4,636.10.

As it's been for the last several weeks, the selling and problems started in Asia.

An official gauge of Chinese manufacturing fell to a three-year low last month, another sign of slowing growth in that country. The manufacturing index, which surveys purchasing managers at factories, dropped to a reading of 49.7 in August from 50.0 in July. A reading below 50 indicates a contraction.

China's stocks sank on the news, with Shanghai Composite Index closing down 1.2 percent. The index has lost 38 percent of its value since hitting a peak in June.

The Chinese economy has been a focus for investors all summer, and the concerns have intensified in the last three weeks. China devalued its currency, the renminbi, in mid-August. Investors interpreted the move as a sign that China's economy was not doing as well as previously reported.

Investors moved into traditional havens like bonds and gold Tuesday. Bond prices rose, pushing the yield on the benchmark 10-year Treasury note down to 2.16 percent from 2.22 percent on Monday. Gold rose $7.30, or 0.6 percent, to settle at $1,139.80 an ounce.

Faced with the possibility of slowing demand in China, the commodity markets once again took the brunt of the hit.

U.S. crude oil fell $3.79 to close at $45.41 a barrel in New York. Brent Crude, a benchmark for international oils used by many U.S. refineries, fell $4.59 to close at $49.56 in London.

Energy stocks were once again among the biggest decliners. Exxon Mobil fell nearly 4 percent and Chevron fell 2.5 percent. Exxon is down 22 percent this year, Chevron 30 percent.

In a sign of how battered energy companies have been this year, ConocoPhillips announced it was laying off 10 percent of its workers, roughly 1,800 workers, as a reaction this year's plunge in oil prices.

Along with worries about China, speculation about whether or not the Federal Reserve will raise interest rates as soon as this month continues to weigh on markets. Traders say a lot hinges on the August jobs report, which will be released this Friday. Economists are forecasting that U.S. employers created 220,000 jobs in the month and that the unemployment rate fell to 5.2 percent.

The Federal Reserve meets September 16 and 17. Some economists are predicting that policymakers will be confident enough in the U.S. economic recovery to raise interest rates for the first time in almost a decade. While Fed officials are mostly focused on the U.S. economy, they cannot ignore problems in the global economy.

"China's problems are totally a concern for the Fed," said Tom di Galoma, head of rates trading at ED&F Man Capital. "With inflation remaining low here, I just don't a reason why they would raise rates."

Markets in Europe were broadly lower. Germany's DAX fell 2.4 percent, France's CAC-40 lost 2.4 percent and the U.K.'s FTSE 100 index declined 3 percent. Japan's Nikkei 225 was also volatile, dropping 3.8 percent. The Hang Seng in Hong Kong sank 2.2 percent. Stocks also fell in South Korea and Australia.

The dollar fell to 119.68 yen from 121.20 yen on Monday. The euro rose to $1.1307 from $1.1225.

In other energy markets, wholesale gasoline fell 10.3 cents to close at $1.396 a gallon, heating oil fell 12.3 cents to close at $1.578 a gallon and natural gas rose 1.3 cents to close at $2.702 per 1,000 cubic feet.

Copper lost 4 cents to $2.30 a pound and palladium slumped $23.05 to $578.50 an ounce. The price of silver edged down four cents to $14.61 an ounce and platinum edged down $2.10 to $1,008.40 an ounce.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 293.03 points or ▲ 1.82% on Wednesday, 2 September 2015
Symbol …........Last …......Change.......
Dow_Jones 16,351.38 ▲ 293.03 ▲ 1.82%
Nasdaq____ 4,749.98 ▲ 113.87 ▲ 2.46%
S&P_500___ 1,948.86 ▲ 35.01 ▲ 1.83%
30_Yr_Bond____ 2.96 ▲ 0.03 ▲ 1.13%

NYSE Volume 3,739,001,750
Nasdaq Volume 1,915,223,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,083.31 ▲ 24.77 ▲ 0.41%
DAX_____ 10,048.05 ▲ 32.48 ▲ 0.32%
CAC_40__ 4,554.92 ▲ 13.76 ▲ 0.30%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,119.40 ▲ 2.30 ▲ 0.04%
Shanghai_Comp 3,160.17 ▼ -6.46 ▼ -0.20%
Taiwan_Weight 8,035.29 ▲ 17.73 ▲ 0.22%
Nikkei_225___ 18,095.40 ▼ -70.29 ▼ -0.39%
Hang_Seng.__ 20,934.94 ▼ -250.49 ▼ -1.18%
Strait_Times.__ 2,878.13 ▼ -4.64 ▼ -0.16%
NZX_50_Index_ 5,590.21 ▼ -64.78 ▼ -1.15%

http://finance.yahoo.com/news/us-markets-rebound-day-big-175523715.html

US markets rebound a day after big plunge

US stocks rebound a day after plunging on fears about slowing growth in China
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. stocks rebounded Wednesday, recovering a significant portion of their losses from the day earlier. Investors remain on edge after the latest market plunge, which was triggered by more signs of slowing growth in China.

The market still has a lot of ground to make up following last week's major declines.

The Dow Jones industrial average added 293.03 points, or 1.8 percent, to 16,351.38. That index fell more than 470 points the day before. The Standard & Poor's 500 rose 35.01 points, or 1.8 percent, to 1,948.86 and the Nasdaq composite rose 113.87 points, or 2.5 percent, 4,749.98.

Tax preparation company H&R Block was the biggest gainer in the S&P 500, rising $2.47, or 7.5 percent, to $35.42. The company reported a smaller-than-expected loss and announced a $3.5 billion stock buyback program.

The market has been bouncing around sharply the last few weeks following signs of weakness in China and uncertainty over when the Federal Reserve will begin raising interest rates. Triple-digit moves in the Dow have been an almost daily occurrence in the past month.

"Investors should expect more volatility," said Mark Luschini, chief investment strategist for Janney Montgomery Scott. "The market needs to work through this correction, and that could take weeks, or maybe months."

While China remains a dominant force in traders' minds, investors are now turning their attentions toward the U.S.

A private survey showed that U.S. businesses added jobs at a steady pace last month, with construction and manufacturing showing solid gains. The payroll processor ADP said businesses added 190,000 jobs last month, up from 177,000 in July, but below a six-month high set in June of 231,000.

The ADP report comes two days before Friday's August jobs report. Economists are forecasting that U.S. employers created 220,000 jobs in August, and that the unemployment rate fell to 5.2 percent.

It will be the last jobs report Federal Reserve policymakers have before their next policy meeting later this month. Some economists expect the Fed to raise interest rates for the first time in close to a decade after the meeting.

China remains in focus across financial markets. The Shanghai composite index opened more than 4 percent lower, but turned positive by midday and eventually ended the day down just 0.2 percent. The volatile trading led some analysts to suspect Beijing was intervening to support share prices before a two-day holiday.

Tracking Chinese shares, other Asian benchmarks swung between gains and losses. Hong Kong's Hang Seng sank 1.2 percent. Japan's benchmark Nikkei 225 index slipped 0.4 percent.

Europe closed modestly higher. Germany's DAX rose 0.3 percent, France's CAC 40 rose 0.3 percent and the U.K.'s FTSE 100 rose 0.4 percent.

Oil ended a choppy day higher after an Energy Department report showed a decline in fuel supplies, which suggests rising demand. U.S. crude rose 84 cents to close at $46.25 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 94 cents to close at $50.50 a barrel in London.

In other futures trading on the NYMEX, wholesale gasoline rose 2.9 cents to close at $1.425 a gallon, heating oil rose 3.1 cents to close at $1.609 a gallon and natural gas fell 5.4 cents to close at $2.648 per 1,000 cubic feet.

U.S. government bond prices fell, pushing the yield on the benchmark 10-year Treasury note up to 2.19 percent from 2.15 percent on Tuesday.

The euro was 0.5 percent lower at $1.1234, a day ahead of the European Central Bank's latest policy meeting. The dollar rose 0.3 percent to 120.25 yen.

The price of gold edged down $6.20 to $1,133.60 an ounce, silver slipped five cents to $14.66 an ounce and copper rose three cents to $2.33 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

TWO DAY HOLIDAY IN CHINA BEGINS THURSDAY - FRIDAY

The NYSE DOW closed HIGHER ▲ 23.38 points or ▲ 0.14% on Thursday, 3 September 2015
Symbol …........Last …......Change.......
Dow_Jones 16,374.76 ▲ 23.38 ▲ 0.14%
Nasdaq____ 4,733.50 ▼ -16.48 ▼ -0.35%
S&P_500___ 1,951.13 ▲ 2.27 ▲ 0.12%
30_Yr_Bond____ 2.95 ▼ -0.02 ▼ -0.57%

NYSE Volume 3,507,499,250
Nasdaq Volume 1,792,551,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,194.10 ▲ 110.79 ▲ 1.82%
DAX_____ 10,317.84 ▲ 269.79 ▲ 2.68%
CAC_40__ 4,653.79 ▲ 98.87 ▲ 2.17%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,048.70 ▼ -70.70 ▼ -1.38%
Shanghai_Comp 3,160.17 ▼ -6.46 ▼ -0.20% TWO DAY HOLIDAY IN CHINA
Taiwan_Weight 8,095.95 ▲ 60.66 ▲ 0.75%
Nikkei_225___ 18,182.39 ▲ 86.99 ▲ 0.48%
Hang_Seng.__ 20,934.94 ▼ -250.49 ▼ -1.18% TWO DAY HOLIDAY IN CHINA
Strait_Times.__ 2,906.43 ▲ 28.30 ▲ 0.98%
NZX_50_Index_ 5,569.68 ▼ -20.53 ▼ -0.37%

http://finance.yahoo.com/news/stocks-gain-european-central-bank-184126165.html

Stocks gain as European central bank says it's ready to act

Stocks edge higher as European Central Bank says it's ready to provide more support if needed
Associated Press By Ken Sweet, AP Business Writer

NEW YORK (AP) -- U.S. stocks moved slightly higher Thursday as markets calmed after a recent bout of turmoil. Investors were encouraged by comments from European Central Bank policymakers, who said they were willing to provide more stimulus to the region's economy, if needed.

Investors now turn to Friday, when a key jobs report will be released that could help determine whether or not the Federal Reserve raises interest rates this month.

"There's a lot of trepidation in the market over what the Fed will do, and it's only getting worse as we get closer to the meeting," said Kristina Hooper, head of investment strategies at Allianz Global Investors. The Fed's two-day meeting begins Sept. 16.

The Dow Jones industrial average added 23.38 points, or 0.1 percent, to 16,374.76. The Standard & Poor's 500 index rose 2.27 points, or 0.1 percent, to 1,951.13 and the Nasdaq composite fell 16.48 points, or 0.4 percent, to 4,733.50.

Stocks started the day solidly higher, but momentum waned as the day dragged on. Major indexes dipped briefly into the red by mid-afternoon before ending mostly higher.

Investors were initially encouraged by news out of the European Central Bank, where President Mario Draghi said the bank is ready to give the eurozone a bigger dose of stimulus should inflation across the 19-country bloc fail to pick up. Along with keeping interest rates low, the ECB is pumping 60 billion euros a month into the region's economy through purchases of government and corporate bonds. The program is slated to run at least through September 2016.

"Draghi said in 2012 he would do whatever it takes to grow the eurozone economy and he's holding to that promise," said Quincy Krosby, a market strategist at Prudential Financial.

European markets jumped on the news. Germany's DAX closed up 2.7 percent, France's CAC-40 rose 2.2 percent and U.K.'s FTSE 100 rose 1.8 percent.

At the same time the ECB is stimulating Europe's economy, the Federal Reserve could raise U.S. interest rates for the first time since the financial crisis. While chances of a September interest rate increase have diminished because of signs of weakening global growth and a sell-off in Chinese stocks, many believe the growing U.S. economy may be ready to withstand higher interest rates.

Friday's jobs report for August, a key gauge of how the U.S. economy is doing, could play a big role in guiding that decision by the Fed. Economists are forecasting that employers created 220,000 jobs last month and that the unemployment rate fell to 5.2 percent.

The price of oil followed the stock market higher. U.S. crude rose 50 cents to close at $46.75 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, rose 18 cents to close at $50.68 a barrel in London.

In other futures trading on the NYMEX:

— Wholesale gasoline rose 1.2 cents to close at $1.437 a gallon.

— Heating oil rose 1 cent to close at $1.619 a gallon.

— Natural gas rose 7.7 cents to close at $2.725 per 1,000 cubic feet.

In other markets, U.S. government bond prices rose. The yield on the 10-year Treasury note fell to 2.16 percent from 2.19 percent late Wednesday. The euro fell to $1.1134 from $1.1238. The dollar fell to 119.91 yen from 120.24 yen.

The price of gold fell $9.10 to settle at $1,124.50 an ounce, silver rose four cents to $14.70 an ounce and copper rose six cents to $2.39 a pound.

 

[bigdog]

U.S. markets will be closed on Monday in observance of the holiday. However, the Chinese stock market, which has been closed for a two-day holiday, will reopen.

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -272.38 points or ▼ -1.66% on Friday, 4 September 2015
Symbol …........Last …......Change.......
Dow_Jones 16,102.38 ▼ -272.38 ▼ -1.66%
Nasdaq____ 4,683.92 ▼ -49.58 ▼ -1.05%
S&P_500___ 1,921.22 ▼ -29.91 ▼ -1.53%
30_Yr_Bond____ 2.89 ▼ -0.06 ▼ -1.97%

NYSE Volume 3,170,086,750
Nasdaq Volume 1,565,390,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,042.92 ▼ -151.18 ▼ -2.44%
DAX_____ 10,038.04 ▼ -279.80 ▼ -2.71%
CAC_40__ 4,523.08 ▼ -130.71 ▼ -2.81%

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,060.80 ▲ 12.10 ▲ 0.24%
Shanghai_Comp 3,160.17 ▼ -6.46 ▼ -0.20% HOLIDAY
Taiwan_Weight 8,000.60 ▼ -95.35 ▼ -1.18%
Nikkei_225___ 17,792.16 ▼ -390.23 ▼ -2.15%
Hang_Seng.__ 20,840.61 ▼ -94.33 ▼ -0.45% HOLIDAY
Strait_Times.__ 2,863.81 ▼ -42.62 ▼ -1.47%
NZX_50_Index_ 5,546.88 ▼ -22.80 ▼ -0.41%

http://finance.yahoo.com/news/us-stocks-drop-mixed-jobs-205315628.html

US stocks drop; mixed jobs report clouds rate outlook

US stocks sink as mixed jobs report keeps investors guessing about the rate outlook
Associated Press By Steve Rothwell, Business Writer

NEW YORK (AP) -- It's an adage that investors hate uncertainty. Unfortunately for them, they got more of it on Friday.

The stock market has been volatile for weeks on concern that China's economy is slowing more rapidly than previously thought. But investors have also had to contend with uncertainty about the outlook for interest rates.

Investors had been hoping that the government's August jobs report would give them more clarity on interest rates, before a key Federal Reserve meeting later this month. However, a mixed report left them guessing as to whether policymakers will feel confident enough about the strength of the U.S. economy to raise interest rates from historic lows.

The report showed that the U.S. unemployment rate fell to a seven-year low in August, but also that employers added fewer jobs than forecast.

"It's interesting and disappointing that today's data didn't provide us with that 'Ah-ha!' clarity that everyone is seeking," said Michael Arone, Chief Investment Strategist at State Street Global Advisors.

The Dow Jones industrial average fell 272.38 points, or 1.7 percent, to 16,102.38. The Standard & Poor's 500 index gave up 29.91 points, or 1.5 percent, to 1,921.22. The Nasdaq composite slipped 49.58 points, or 1.1 percent, to 4,683.92.

Fed policymakers have kept their benchmark interest rate close to zero since late 2008 to help revive the economy after the Great Recession. Those low rates have also been good for the stock market, supporting a bull run that has lasted for more than six years.

On Friday, the S&P 500 ended the week down 3.4 percent, its second-worst weekly drop of the year. The index is down nearly 10 percent from its peak of 2,130.82 reached May 21.

Much of the damage this week was done on Tuesday, after gloomy manufacturing data out of China rekindled fears about the health of the world's second-largest economy.

But despite the big drop in stocks, some strategists say that much of the evidence suggests the U.S. economy is maintaining its recovery. A report this week showed robust growth in the service industry.

"As China is sneezing, there is very little to suggest that the U.S. is catching a cold," said Jeremy Zirin, chief U.S. equity strategist for Wealth Management Research at UBS.

Trading volume was lighter than usual ahead of the Labor Day holiday. U.S. markets will be closed on Monday in observance of the holiday. However, the Chinese stock market, which has been closed for a two-day holiday, will reopen.

Among individual stocks, Netflix continued its slide on Friday. The company's stock has slumped for six straight days and closed the week down 16 percent on speculation that competition from rivals including Amazon and Hulu is intensifying. Variety also reported Monday that Apple is exploring a move into original programming.

Bond prices edged up after the jobs report, pushing the yield on the benchmark 10-year Treasury note down to 2.13 percent from 2.16 percent on Thursday.

In Europe, the FTSE 100 index of leading British shares was down 2.4 percent, Germany's DAX fell 2.7 percent. The CAC-40 in France was 2.8 percent lower.

The euro edged up to $1.1151. The dollar fell 1 percent against the Japanese currency, to 118.99 yen.

In metals trading, the price of gold fell $3.10 to settle at $1,121.50 an ounce, silver fell 16 cents to $14.54 an ounce and copper declined seven cents to $2.32 a pound.

The price of oil fell along with stocks but pared its losses after a closely watched count of active drilling rigs in the U.S. fell. Crude declined 70 cents to close at $46.05 a barrel in New York. Brent Crude, a benchmark for international oils used by many U.S. refineries, fell $1.07 to close at $49.61 a barrel in London.

In other futures trading on the NYMEX:

— Wholesale gasoline fell 1.9 cents to close at $1.418 a gallon.

— Heating oil fell 2.3 cent to close at $1.596 a gallon.

— Natural gas fell 7 cents to close at $2.655 per 1,000 cubic feet.

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