NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 119 points or ▲ 0.58% on Tuesday, February 21, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,743.00 ▲ 118.95 ▲ 0.58% .
Nasdaq____ 5,865.95 ▲ 27.37 ▲ 0.47% .
S&P_500___ 2,365.38 ▲ 14.22 ▲ 0.60% .
30_Yr_Bond____ 3.04 ▲ 0.01 ▲ 0.20% .

NYSE Volume 3,574,788,250
Nasdaq Volume 2,049,013,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,274.83 ▼ -25.03 ▼ -0.34% .
DAX_____ 11,967.49 ▲ 139.87 ▲ 1.18% .
CAC_40__ 4,888.76 ▲ 23.77 ▲ 0.49% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,835.40 ▼ -5.10 ▼ -0.09% .
Shanghai_Comp 3,253.33 ▲ 13.36 ▲ 0.41% .
Taiwan_Weight 9,763.93 ▲ 10.73 ▲ 0.11% .
Nikkei_225___ 19,381.44 ▲ 130.36 ▲ 0.68% .
Hang_Seng.__ 23,963.63 ▼ -182.45 ▼ -0.76% .
Strait_Times.__ 3,094.19 ▼ -2.50 ▼ -0.08% .
NZX_50_Index_ 7,115.69 ▲ 16.19 ▲ 0.23% .

http://finance.yahoo.com/news/us-stocks-start-week-highs-deals-earnings-151218767--finance.html

Deal hunger sends food stocks higher; US indexes at records

MARLEY JAY

NEW YORK (AP) — Stocks again broke records Tuesday as investors came back from a long weekend hungry for deals. While Kraft Heinz and Unilever couldn't complete a proposed $143 billion mega-merger, food and household goods makers rose as investors bet that other deals are coming.

Companies that make packaged foods, everyday household items and other consumer goods are usually seen as stable investments and rarely take center stage on Wall Street. But on Tuesday they did just that, as investors felt the failed Kraft Heinz-Unilever sale will be replaced by other deals. Oreo maker Mondelez and jam maker Smucker made the largest gains.

"That's why you saw the (home and personal care products) companies move up on Friday and you're seeing some of them follow through today," said Jefferies & Co. analyst Kevin Grundy.

Stocks built on their gains over the last two hours of trading to close at their highest prices of the day. Income-seeking investors also bought shares of real estate investment trusts and utilities.

The Dow Jones industrial average climbed 118.95 points, or 0.6 percent, to 20,743. The Standard & Poor's 500 index rose 14.22 points, or 0.6 percent, to 2,365.38. The Nasdaq composite gained 27.37 points, or 0.5 percent, to 5,865.95. All three indexes are at record highs after rising nine times in the last 10 days. The Russell 2000 index of smaller companies added 10.48 points, or 0.7 percent, to 1,410.34, also a record.

U.S. markets were closed Monday for the Presidents Day holiday.

Kraft Heinz and Unilever both slumped after Kraft withdrew a $143 billion offer to buy its rival. Unilever said the offer was too low and the companies said Kraft Heinz was giving up its effort. Unilever, the maker of Hellman's, Lipton and Knorr, declined $3.66, or 7.5 percent, to $44.87. Kraft Heinz, which owns brands including Oscar Mayer, Jell-O and Velveeta, gave up $1.78, or 1.8 percent, to $94.87.

Grundy, the Jefferies analyst, said the Kraft Heinz-Unilever talks surprised Wall Street because Unilever gets most of its revenue from household products, not food. With the Unilever talks apparently done, analysts think Kraft Heinz is still interested in buying another company and they are wondering if it will pursue a different consumer products company or stick to the food industry.

He added that Unilever's shareholders might push that company to make a deal as well.

Kraft Heinz, which is mostly owned by 3G Capital and Warren Buffett's Berkshire Hathaway, has a reputation for slashing costs to make bigger profits.

Mondelez, which was once part of Kraft, climbed 5.8 percent and J.M. Smucker rose 4.4 percent, while cereal makers General Mills and Kellogg gained 3 percent and 2.5 percent, respectively. Household goods makers Colgate-Palmolive, Kimberly-Clark and Clorox all jumped.

Wal-Mart rose $2.08, or 3 percent, to $71.45 after the company said its online business surged in the fourth quarter and it reported more business in the U.S. during the holiday season. Wal-Mart recently bought web-based retailers Jet.com and Moosejaw to strengthen its online sales, which have improved over the last two quarters.

Online rival Amazon continued to set record highs as it rose $11.37, or 1.3 percent, to $856.44.

Restaurant Brands International, the company that owns the Burger King and Tim Hortons brands, agreed to buy Popeyes Louisiana Kitchen for $1.8 billion. Last week Popeyes jumped from about $66 to $70 and then fell back again as reports about a possible deal swirled. Restaurant Brands agreed to pay $79 a share for Popeyes, which climbed $12.61, or 19.1 percent, to $78.73. Restaurant Brands' stock jumped $3.70, or 6.9 percent, to $57.60.

Benchmark U.S. crude oil rose 66 cents, or 1.2 percent, to $54.06 per barrel in New York. Brent crude, used to price international oils, added 48 cents to $56.66 a barrel in London.

In other energy trading, natural gas plunged 27 cents, or 9.5 percent, to $2.56 per 1,000 cubic feet. That was its lowest price in almost a year and it dragged natural gas companies lower. Wholesale gasoline shed 2 cents to $1.49 a gallon. Heating oil rose 1 cent to $1.64 a gallon.

Scripps Networks, the parent of Food Network, Travel Channel and HGTV, climbed after it reported better ratings and stronger ad sales. Its stock gained $5.46, or 7.2 percent, to $81.50 while Discovery Communications, the parent of TLC and Animal Planet, picked up 94 cents, or 3.3 percent, to $29.62. News Corp, which owns the Fox cable channels, rose 25 cents, or 1.9 percent, to $13.33.

The dollar rose to 113.58 yen from 112.93 yen late Friday. The euro sank to $1.0547 from $1.0607.

Bond prices slipped. The yield on the 10-year Treasury note rose to 2.43 percent from 2.42 percent.

Gold dipped 20 cents to $1,238.90 an ounce. Silver lost 3 cents to $18 an ounce. Copper rose 4 cents to $2.75 a pound.

After a survey showed the economy of the 19-country Eurozone is growing at its fastest pace in almost six years, Germany's DAX advanced 1.2 percent while the French CAC 40 rose 0.5 percent. In Britain, the FTSE 100 retreated 0.3 percent. Tokyo's Nikkei 225 rose 0.7 percent. The Hang Seng in Hong Kong retreated 0.8 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 32.6 points or ▲ 0.16% on Wednesday, February 22, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,775.60 ▲ 32.60 ▲ 0.16% .
Nasdaq____ 5,860.63 ▼ -5.32 ▼ -0.09% .
S&P_500___ 2,362.82 ▼ -2.56 ▼ -0.11% .
30_Yr_Bond____ 3.04 ▲ 0.00 ▲ 0.00% .

NYSE Volume 3,459,104,750
Nasdaq Volume 96,937,048,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,302.25 ▲ 27.42 ▲ 0.38% .
DAX_____ 11,998.59 ▲ 31.10 ▲ 0.26% .
CAC_40__ 4,895.88 ▲ 7.12 ▲ 0.15% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,850.10 ▲ 14.70 ▲ 0.25% .
Shanghai_Comp 3,261.22 ▲ 7.89 ▲ 0.24% .
Taiwan_Weight 9,778.78 ▲ 14.85 ▲ 0.15% .
Nikkei_225___ 19,379.87 ▼ -1.57 ▼ -0.01% .
Hang_Seng.__ 24,201.96 ▲ 238.33 ▲ 0.99% .
Strait_Times.__ 3,122.20 ▲ 28.01 ▲ 0.91% .
NZX_50_Index_ 7,062.48 ▼ -53.21 ▼ -0.75% .

http://finance.yahoo.com/news/stock...strial-companies-fall-152003311--finance.html

Stocks slip from highs as energy companies sink; Dow gains

MARLEY JAY

NEW YORK (AP) - U.S. stocks slipped Wednesday after their recent record-setting run. Energy companies stumbled, but basic materials makers rose as investors hoped two large deals will win approval from regulators.

While energy stocks fell with the price of oil, most other sectors didn't make big moves. Technology companies eked out a small gain. They have risen every day this month to reach their highest mark since 2000. DuPont and Dow Chemical rose after Reuters reported that European officials could approve their merger soon. The Dow Jones industrial average made its ninth straight gain.

After an extended streak of gains, investors didn't make many big moves. They spent most of the day waiting for the minutes from the Federal Reserve meeting three weeks ago, but those minutes contained few surprises. Bond prices rose and yields dipped.

Kate Warne, an investment strategist for Edward Jones, said the Fed's decision-makers are also waiting to learn more about the Trump administration's policy proposals and Congress' reaction to them. That might take a few months. Meanwhile investors, too, will wait.

"They want to see the data, they want to see more on inflation, and they would like more certainty about any fiscal policy changes," she said.

The Dow average rose 32.60 points, or 0.2 percent, to 20,775.60. The Standard & Poor's 500 index lost 2.56 points, or 0.1 percent, to 2,362.82. The Nasdaq composite shed 5.32 points, or 0.1 percent, to 5,860.63. The Russell 2000 index of small-company stocks slid 6.49 points, or 0.5 percent, to 1,403.86. More stocks fell than rose on the New York Stock Exchange.

All four indexes closed at record highs Tuesday.

DuPont climbed $2.63, or 3.4 percent, to $79.80 and Dow Chemical gained $2.45, or 4 percent, to $63.67. Reuters reported that regulators in the European Union are close to approving their $62 billion combination. Antitrust officials in the U.S. and elsewhere would still have to approve that deal.

Investors appeared to grow more optimistic about a second deal in the chemicals industry: Monsanto, which has accepted a $57 billion offer from Bayer but is also waiting for regulatory approval, rose 81 cents to $111.38.

The minutes from the Federal Reserve meeting showed that officials discussed the importance of raising their primary interest rate soon, especially if the economy stays strong. Some Fed officials were worried that if interest rates stay too low, the expanding economy could cause inflation to rise too fast.

Investors don't generally expect the Fed to raise interest rates at its next meeting in March. But bond prices changed course and turned higher. The yield on the 10-year Treasury note fell to 2.41 percent from 2.43 percent late Tuesday.

Energy companies traded lower as benchmark U.S. crude lost 74 cents, or 1.4 percent, to $53.59 a barrel in New York. Brent crude, the standard for pricing international oils, fell 34 cents to $55.84 a barrel in London.

Oil and gas company Concho Resources slid $9.65, or 6.8 percent, to $131.70 after a weak fourth-quarter report and Newfield Exploration declined $3.42, or 8 percent, to $39.07 as analysts expressed concerns about its forecasts for the current year.

Drugmaker Bristol-Myers Squibb rose 57 cents, or 1 percent, to $55.35 after the Wall Street Journal reported that billionaire investor Carl Icahn bought a stake in the company. Icahn has not confirmed his investment. Just a day earlier, after Bristol-Myers reached a deal with another activist investor, Jana Partners. It will add three new directors to its board and spend $2 billion to buy back stock. Bristol-Myers stock traded at $75 in early August but plunged as investors worry that its lung cancer drug Opdivo will lose sales to other treatments.

Food and consumer products company Unilever rose after it said it will quickly review its options to find ways to increase value for shareholders. Kraft Heinz went public Friday with an offer to buy the company for $143 billion, but it withdrew that offer over the weekend after Unilever said it wasn't big enough. Unilever regained $2.06, or 4.6 percent, to $46.93 after a 7.5 percent skid Tuesday.

Technology companies wavered but finished with a small gain thanks to Facebook, which jumped $2.40, or 1.8 percent, to $136.12. The S&P 500's technology index has gained ground every day in February and is up 10 percent this year. That index is at its highest level since July 2000, four months after the dot-com boom had peaked.

The dollar slipped to 113.12 yen from 113.58 yen. The euro rose to $1.0568 from $1.0547.

In other energy trading, wholesale gasoline rose 2 cents to $1.51 a gallon. Heating oil dipped 1 cent to $1.63 a gallon. Natural gas edged up 3 cents to $2.59 per 1,000 cubic feet.

Gold slipped $5.60 to $1,233.30 an ounce. Silver lost 5 cents to $17.95 an ounce. Copper fell 1 cent to $2.73 a pound.

Britain's FTSE 100 gained 0.4 percent and Germany's DAX added 0.3 percent. In France, the CAC 40 picked up 0.1 percent. The Japanese Nikkei 225 finished unchanged while South Korea's Kospi added 0.2 percent. The Hang Seng index in Hong Kong jumped 1 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 34.7 points or ▲ 0.17% on Thursday, February 23, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,810.32 ▲ 34.72 ▲ 0.17% .
Nasdaq____ 5,835.51 ▼ -25.12 ▼ -0.43% .
S&P_500___ 2,363.81 ▲ 0.99 ▲ 0.04% .
30_Yr_Bond____ 3.02 ▼ -0.01 ▼ -0.46% .

NYSE Volume 4,015,672,000
Nasdaq Volume 1,875,337,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,271.37 ▼ -30.88 ▼ -0.42% .
DAX_____ 11,947.83 ▼ -50.76 ▼ -0.42% .
CAC_40__ 4,891.29 ▼ -4.59 ▼ -0.09% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,832.50 ▼ -17.60 ▼ -0.30% .
Shanghai_Comp 3,251.38 ▼ -9.84 ▼ -0.30% .
Taiwan_Weight 9,769.31 ▼ -9.47 ▼ -0.10% .
Nikkei_225___ 19,371.46 ▼ -8.41 ▼ -0.04% .
Hang_Seng.__ 24,114.86 ▼ -87.10 ▼ -0.36% .
Strait_Times.__ 3,137.57 ▲ 15.37 ▲ 0.49% .
NZX_50_Index_ 7,089.52 ▲ 27.04 ▲ 0.38% .

http://finance.yahoo.com/news/us-stocks-start-mixed-energy-151422790.html

Stocks end mixed as investors seek safety; industrials slide

MARLEY JAY

NEW YORK (AP) — Stocks wobbled Thursday as investors changed course and tempered their expectations for faster economic growth. Industrial companies, which have surged over the last few months, finished lower as Wall Street focused on gold, bonds, and companies that pay big dividends.

Construction equipment, transportation and metals companies skidded and small-company stocks, which are more sensitive to changes in economic growth, also slumped. Technology companies fell for the first time in February. The biggest gains went to utilities, real estate investment trusts, and other companies that pay hefty dividends. Despite all that, the Dow Jones industrial average, which tracks 30 large U.S. stocks, rose for the 10th day in a row.

Industrial companies have made big gains since November as investors expect the Trump administration and Republican Congress to ramp up spending on infrastructure. That optimism faded a bit on Thursday.

An infrastructure spending bill is one of the administration's key proposals for speeding up economic growth, along with tax cuts and reduced regulations. But Jeff Kravetz, regional investment strategist at U.S. Bank Wealth Management, said it might take a while before any bills are introduced or become law.

"They're all positive initiatives for the economy but to get any of these done is not something we can get done in a few months," he said. "We may have gotten ahead of ourselves with a lot of these initiatives."

The Dow added 34.72 points, or 0.2 percent, to 20,810.32. The Standard & Poor's 500 index rose 0.99 points to 2,363.81. The Nasdaq composite lost 25.12 points, or 0.4 percent, to 5,835.51. The Russell 2000 index of smaller-company stocks slid 9.23 points, or 0.7 percent, to 1,394.62.

Industrial companies declined for the second day in a row, and took some of their biggest losses since the presidential election. They've made big gains since November as investors expect the Trump administration and Republican Congress to ramp up spending on infrastructure. That optimism faded a bit on Thursday. Construction equipment maker Caterpillar gave up $2.65, or 2.7 percent, to $95.55, its biggest loss since September. United Rentals shed $7.16, or 5.6 percent, to $120.90.

The price of copper fell 3.3 percent to $2.64 a pound, its biggest one-day decline in more than a year. Copper is used in numerous construction projects, so its price has jumped recently. Companies that make basic materials also fell, and U.S. Steel lost $3.18, or 7.9 percent, to $37.31.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.37 percent from 2.42 percent.

That helped companies that pay big dividends, like utilities, real estate investment trusts and phone companies. Electricity company FirstEnergy picked up 60 cents, or 1.9 percent, to $31.39. Realty Income, which owns properties used by retailers like drugstores and discount stores, gained $1.72, or 2.8 percent, to $62.86.

In another sign investors were seeking some refuge, gold jumped $18.10, or 1.5 percent, to $1,251.40 an ounce and silver rose 17 cents to $18.12 an ounce.

L Brands, the owner of Victoria's Secret and Bath & Body Works, tumbled after it said February sales have been weak, especially at Victoria's Secret. The company decided to stop selling swimwear last year and said sales at older stores have dropped sharply. The stock gave up $9.19, or 15.8 percent, to $48.94.

Food conglomerate Hormel skidded after it said low turkey prices hurt its profit and sales in the first quarter, and Hormel cut its annual profit estimate because it expects those prices to remain weak. The stock fell $2.01, or 5.4 percent, to $35.29.

HP Inc. blew past analyst estimates in the fourth quarter thanks to a 10 percent jump in revenue from personal computers. The company said Notebook sales jumped, which made up for lower printer revenue and flat desktop sales. The stock added $1.40, or 8.6 percent, to $17.60.

That wasn't enough to keep the recent technology rally going, but Kravetz, of U.S. Bank, said technology stocks should continue to do well because their earnings are improving and both consumers and businesses are feeling more comfortable spending. Tech stocks are at their highest levels since the dot-com boom.

Benchmark U.S. crude oil futures rebounded, rising 86 cents, or 1.6 percent, to $54.45 a barrel in New York. Brent crude, the standard for pricing international oils, rose 61 cents to $56.58 a barrel in London.

In other energy trading, wholesale gasoline gained 2 cents to $1.53 a gallon. Heating oil rose 3 cents to $1.66 a gallon. Natural gas picked up 3 cents to $2.62 per 1,000 cubic feet.

Boston Scientific sank after it said it will take all of its Lotus Valve devices off the market and from clinical testing sites because of a manufacturing problem. The device is intended to replace damaged or defective aortic valves. Last year the company announced a similar problem with a related Lotus product. Boston Scientific stock lost 73 cents, or 2.9 percent, to $24.43, and competitor Edwards Lifescience jumped $3.55, or 3.8 percent, to $95.76.

The dollar dipped to 112.75 yen from 113.12 yen. The euro inched up to $1.0574 from $1.0568.

Britain's FTSE 100 index and Germany's DAX both declined 0.4 percent and the French CAC 40 slid 0.1 percent. Japan's benchmark Nikkei 225 lost less than 0.1 percent and the Kospi of South Korea finished 0.1 percent higher. Hong Kong's Hang Seng shed 0.4 percent.

 

[bigdog]

S&P_500___ 2,367.34 ▲ 3.53 ▲ 0.15% .
30_Yr_Bond____ 2.95 ▼ -0.07 ▼ -2.25% .

NYSE Volume 3,802,612,750
Nasdaq Volume 1,762,616,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,243.70 ▼ -27.67 ▼ -0.38% .
DAX_____ 11,804.03 ▼ -143.80 ▼ -1.20% .
CAC_40__ 4,845.24 ▼ -46.05 ▼ -0.94% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,786.90 ▼ -45.60 ▼ -0.78% .
Shanghai_Comp 3,253.43 ▲ 2.06 ▲ 0.06% .
Taiwan_Weight 9,750.47 ▼ -18.84 ▼ -0.19% .
Nikkei_225___ 19,283.54 ▼ -87.92 ▼ -0.45% .
Hang_Seng.__ 23,965.70 ▼ -149.16 ▼ -0.62% .
Strait_Times.__ 3,117.03 ▼ -20.54 ▼ -0.65% .
NZX_50_Index_ 7,058.58 ▼ -30.94 ▼ -0.44% .

http://finance.yahoo.com/news/us-stocks-slump-banks-technology-151728342.html

US stocks dip as banks and energy companies fall

Marley Jay, AP Markets Writer

NEW YORK (AP) — U.S. stocks are losing ground Friday as banks fall and energy companies continue to slide. The Dow Jones industrial average is on track to break a 10-day winning streak. The losses are modest, but there's far more selling than buying on Wall Street.

Investors are looking for safer places to put their money, as they've done over the last few days. Bond prices are rising and yields are dropping. That's sending interest rates lower, which hurts banks. High-dividend stocks are rising.

KEEPING SCORE: The Dow Jones industrial average lost 60 points, or 0.3 percent, to 20,749 as of 2:50 p.m. Eastern time. The Standard & Poor's 500 index fell 5 points, or 0.2 percent, to 2,358. The Nasdaq composite sank 6 points, or 0.1 percent, to 5,829. The Russell 2000 index, which tracks smaller companies, slid 2 points, or 0.1 percent, to 1,392. Major indexes are mixed this week but remain close to all-time highs.

BONDS: Bond prices sank again. The yield on the 10-year Treasury note slid to 2.32 percent from 2.39 percent. Lower bond yields push interest rates lower, which means banks will make less money on mortgages and other loans. Wells Fargo slipped $1.10, or 1.9 percent, to $57.39 and Bank of America fell 49 cents, or 2 percent, to $24.09. Investment banks and insurers traded lower as well.

With yields down, investors bought utility stocks and phone company stocks, which pay large dividends similar to bonds. Exelon gained $1.02, or 2.8 percent, to $37 and NextEra Energy rose $2.44, or 1.9 percent, to $130.63.

HPE HURTING: Hewlett Packard Enterprise, which sells data-center hardware and other commercial tech gear to big organizations, slumped after it cut its profit estimate for the year. Its business was hurt by the strong dollar, expenses, and other problems that it said will be "near-term." HP Enterprise's quarterly sales dropped 10 percent and weren't as strong as analysts hoped. Its stock skidded $1.71, or 6.9 percent, to $22.96.

Chipmakers and other technology companies also lost ground.

METAL GAINS: Gold and silver continued to rise. Gold, which jumped 1.5 percent a day earlier, picked up 0.6 percent to $1,258.30 an ounce. The metal is trading at its highest price since just after the presidential election, although it's down sharply from this summer. Silver added 1.2 percent to $18.34 an ounce and copper picked up 1.4 percent to $2.70 a pound after a steep loss the previous day. That helped mining companies trade higher.

PENNEY POUNDED: Department store operator J.C. Penney said it will close 130 to 140 stores and two distribution centers in the next few months. That's about 14 percent of its stores. Penney also said it will offer voluntary early retirement plans to about 6,000 employees. The company is trying to cut costs as it competes with online retailers. Its stock gave up 31 cents, or 4.5 percent, to $6.55.

Competitor Nordstrom jumped after it disclosed a better-than-expected quarterly profit with help from strong sales online and at Nordstrom Rack. Its shares gained $2.952, or 6.7 percent, to $46.89. Kohl's also rose $2.24, or 5.5 percent, to $43.15. The stock dipped Thursday after investors weren't thrilled by the company's fourth-quarter report.

PRISON STOCKS: For-profit prison operator Geo Group rose $1.40, or 3 percent, to $48.77 and CoreCivic added 75 cents, or 2.2 percent, to $34.75. Late Thursday, Attorney General Jeff Sessions directed the federal Bureau of Prisons to continue doing business with private prison operators. That reversed an Obama administration policy that sent the stocks tumbling when it was announced in August.

The companies operate detention facilities used by Immigration and Customs enforcement as well as prisons and they get a lot of their revenue from contracts with the federal government. Since Donald Trump was elected president in November their stocks have soared, as investors expected the Obama-era policy would be reversed and that Trump's policies toward immigration and criminal justice would strengthen their business. CoreCivic has climbed 140 percent since the election and Geo Group has doubled in value.

ENERGY: Benchmark U.S. crude oil fell 46 cents to $53.99 a barrel in New York. Brent crude, the standard for pricing international oils, fell 59 cents, or 1 percent, to $55.99 a barrel in London. Energy companies continued to trade lower. They've fallen sharply over the last month. The S&P 500 energy company index is down 7 percent this year while the broader S&P 500 is up more than 5 percent.

OTHER ENERGY TRADING: Wholesale gasoline declined 1 cent to $1.51 a gallon. Heating oil fell 2 cents to $1.64 a gallon. Natural gas picked up 1 cent to $2.63 per 1,000 cubic feet.

CURRENCIES: The dollar slid to 112.12 yen from 112.75 yen. The euro fell to $1.0561 from $1.0574.

OVERSEAS: The DAX in Germany fell 1.2 percent and France's CAC 40 slumped 0.9 percent. In Britain the FTSE 100 shed 0.4 percent. Japan's benchmark Nikkei 225 lost 0.5 percent and South Korea's Kospi fell 0.6 percent. The Hang Seng of Hong Kong fell 0.5 percent.

2106

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 15.7 points or ▲ 0.08% on Monday, February 27, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,837.44 ▲ 15.68 ▲ 0.08% .
Nasdaq____ 5,861.90 ▲ 16.59 ▲ 0.28% .
S&P_500___ 2,369.75 ▲ 2.41 ▲ 0.10% .
30_Yr_Bond____ 2.99 ▲ 0.03 ▲ 1.05% .

NYSE Volume 3,557,329,750
Nasdaq Volume 2,020,057,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,253.00 ▲ 9.30 ▲ 0.13% .
DAX_____ 11,822.67 ▲ 18.64 ▲ 0.16% .
CAC_40__ 4,845.18 ▼ -0.06 ▲ 0.00% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,773.80 ▼ -13.10 ▼ -0.23% .
Shanghai_Comp 3,228.66 ▼ -24.77 ▼ -0.76% .
Taiwan_Weight 9,750.47 ▼ -18.84 ▼ -0.19% .
Nikkei_225___ 19,107.47 ▼ -176.07 ▼ -0.91% .
Hang_Seng.__ 23,925.05 ▼ -40.65 ▼ -0.17% .
Strait_Times.__ 3,108.62 ▼ -8.41 ▼ -0.27% .
NZX_50_Index_ 7,079.18 ▲ 20.60 ▲ 0.29% .


http://finance.yahoo.com/news/us-stock-indexes-edge-lower-early-trading-oil-152608477.html

New highs for US stocks; Dow win streak longest since 1987

ALEX VEIGA

Wall Street notched another set of milestones Monday as the Dow Jones industrial average closed at a record high for the 12th consecutive time, the longest winning streak for the 30-company average in 30 years.

The Standard & Poor's 500 index, the benchmark favored by professional investors, also closed at a record high.

The latest push into the record books came on an indecisive day for U.S. stocks that sent indexes wavering between small gains and losses for much of the day. They ultimately eked out tiny gains, led by energy stocks, which climbed as the price of crude oil rose. Phone companies lagged the most.

Many investors were taking a wait-and-see approach ahead of President Donald Trump's speech to Congress on Tuesday, hoping for details of promised tax cuts, infrastructure spending and other business-friendly policies.

"It's all about policy now," said Phil Blancato, CEO of Ladenburg Thalmann Asset Management. "There's only so much the market can deliver when there's still these many unknowns, specifically the Washington impact is now as much a head wind as it is a tail wind."

The Dow Jones industrial average rose 15.68 points, or 0.1 percent, to 20,837.44. The S&P 500 gained 2.39 points, or 0.1 percent, to 2,369.73. The Nasdaq composite index added 16.59 points, or 0.3 percent, to 5,861.90. Small-company stocks fared better than the other indexes, sending the Russell 2000 index up 13.44 points, or 1 percent, to 1,407.97.

The last time the Dow posted a longer winning streak was in early January 1987, when the average rose for 13 days in a row. That streak translated into a gain of 11 percent for the Dow. Nine months later, on Oct. 19, 1987, the Dow plummeted more than 500 points, or about 22 percent, on what became known as Black Monday.

Just because the Dow is on another lengthy winning streak doesn't mean a similar market slump is in the cards now, noted Ryan Detrick, a senior market strategist for LPL Financial.

One key difference is that the Dow went on to gain another 30 percent in the months after the 13-day streak in January 1987. By comparison, the Dow is now up about 5.4 percent this year, so there's a long way to go before the market becomes as stretched as it was 30 years ago, Detrick said.

"That isn't to say a normal correction after the big surge since the U.S. election isn't possible, it is, but a major bear market correction is still something we'd call a low percentage scenario right now," he said.

U.S. stocks have benefited from the Trump administration's promise of pro-business changes, but investors have become uneasy over how large and rapid those changes will be.

During a meeting with governors Monday, Trump noted that his upcoming budget would include a big boost to defense spending. The White House separately said that the budget would include a $54 billion increase in defense spending while imposing corresponding cuts to domestic programs and foreign aid.

Talk of more defense spending gave a lift to defense contractors Monday. Raytheon added $1.35, or 0.9 percent, to $154.83. Northrop Grumman gained $3.55, or 1.4 percent, to $248.60. Lockheed Martin climbed $5.18, or 2 percent, to $269.36.

Expectations that the Trump administration will ramp up infrastructure spending projects also gave materials companies a boost. Martin Marietta Materials rose $5.21, or 2.5 percent, to $215.26, while Vulcan Materials added $2.78, or 2.4 percent, to $120.60. Summit Materials gained 50 cents, or 2.1 percent, to $24.25.

Trump's speech Tuesday to a joint session of Congress is expected to include more details of how the administration plans to carry out promises to cut taxes and step up infrastructure spending.

"The markets had this incredible run, much of it based on potential tax policy, and what everyone wants to see tomorrow night is some more details," said JJ Kinahan, chief market strategist at TD Ameritrade.

Traders also weighed the latest crop of company earnings and outlooks.

Tegna climbed 3.5 percent after the media company's latest earnings beat Wall Street's estimates. The stock rose 86 cents to $25.66.

Power company AES fell 6.6 percent after its full-year profit forecast disappointed investors. The stock lost 79 cents to $11.14.

Consumer stocks were among the biggest decliners as shares in several supermarket operators fell. Kroger slid $1.07, or 3.2 percent, to $32.22, while Whole Foods Market dipped 46 cents, or 1.5 percent, at $31.10.

Major stock indexes overseas were mixed.

Benchmark U.S. crude rose 6 cents to close at $54.05 a barrel in New York. Brent crude, used to price international oils, slipped 6 cents to close at $55.93 in London.

Bond prices fell. The 10-year Treasury yield rose to 2.37 percent from 2.32 percent late Friday.

In Europe, Germany's DAX rose 0.2 percent, while France's CAC-40 was flat. London's FTSE-100 added 0.1 percent. In Asia, Tokyo's Nikkei 225 index fell 0.9 percent. Hong Kong's Hang Seng slid 0.2 percent. Seoul's Kospi shed 0.4 percent. Sydney's S&P-ASX 200 lost 0.3 percent.

The dollar rose to 112.80 yen from Friday's 111.98 yen. The euro rose to $1.0589 from $1.0565.

In other energy trading, wholesale gasoline added 2 cents to $1.53 a gallon, while heating oil was little changed at $1.64 a gallon. Natural gas futures shed 9 cents, or 3.4 percent, at $2.69 per 1,000 cubic feet.

Among metals, the price of gold edged up 50 cents to $1,258.80 an ounce. Silver added 2 cents to $18.35 an ounce. Copper rose a penny to $2.69 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -25 points or ▼ -0.12% on Tuesday, February 28, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,812.24 ▼ -25.20 ▼ -0.12% .
Nasdaq____ 5,825.44 ▼ -36.46 ▼ -0.62% .
S&P_500___ 2,363.64 ▼ -6.11 ▼ -0.26% .
30_Yr_Bond____ 2.97 ▼ -0.02 ▼ -0.60% .

NYSE Volume 4,206,794,500
Nasdaq Volume 2,384,570,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,263.44 ▲ 10.44 ▲ 0.14% .
DAX_____ 11,834.41 ▲ 11.74 ▲ 0.10% .
CAC_40__ 4,858.58 ▲ 13.40 ▲ 0.28% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,761.00 ▼ -12.80 ▼ -0.22% .
Shanghai_Comp 3,241.73 ▲ 13.07 ▲ 0.40% .
Taiwan_Weight 9,750.47 ▼ -18.84 ▼ -0.19% .
Nikkei_225___ 19,118.99 ▲ 11.52 ▲ 0.06% .
Hang_Seng.__ 23,740.73 ▼ -184.32 ▼ -0.77% .
Strait_Times.__ 3,096.61 ▼ -12.01 ▼ -0.39% .
NZX_50_Index_ 7,167.46 ▲ 88.28 ▲ 1.25% .

http://finance.yahoo.com/news/us-stock-indexes-edge-lower-early-trading-oil-151741473--finance.html

Stocks edge lower, breaking a 12-day win streak for the Dow

ALEX VEIGA

A slide led by Target and other big retailers pulled U.S. stock indexes lower Tuesday, snapping a 12-day winning streak for the Dow Jones industrial average.

Industrial stocks and phone companies were also among the big decliners. Energy companies fell as crude oil prices edged lower. Utilities stocks eked out a gain.

Investors were focused on an evening speech by President Donald Trump to Congress in hopes of gleaning more details on the timing of tax cuts and other policies.

"The next direction of this market, in our view, is going to be very much driven by the ability of the administration to start putting into action some of the things that the market has gotten excited about, mainly tax reform more than anything else," said Rob Eschweiler, global investment specialist at J.P. Morgan Private Bank.

The Dow fell 25.20 points, or 0.1 percent, to 20,812.24. The Standard & Poor's 500 index slid 6.11 points, or 0.3 percent, to 2,363.64. The Nasdaq composite index lost 36.46 points, or 0.6 percent, to 5,825.44.

Small-company stocks fell more than the rest of the market. The Russell 2000 index slumped 21.29 points, or 1.5 percent, to 1,386.68.

Bond prices fell. The 10-year Treasury yield rose to 2.39 percent from 2.37 percent late Monday.

Trump was scheduled to deliver his first speech to a joint session of Congress Tuesday evening. On Monday the president told a group of governors that his budget would propose increasing defense spending by $54 billion while cutting domestic programs and foreign aid by the same amount. He also said "We're going to start spending on infrastructure big."

Since the election in November, expectations of tax reform, deregulation and ramped up spending on defense and infrastructure projects has pushed the stock market higher. Investors are looking for more clarity on business-friendly policies, but also on trade, immigration and other Trump administration policy initiatives that have made some investors nervous.

"(The market) has priced in all the positive aspects of some of his campaign promises, but what it hasn't done is price in the negatives that could result from health care, trade policies, border taxes, things like that which are a little bit less clear," said Lindsey Bell, investment strategist at CFRA Research.

Traders weren't entirely focused on Washington on Tuesday. They continued to size up the latest company earnings and outlooks.

Target plunged 12.2 percent after the retail chain's latest quarterly profit fell short of Wall Street's forecasts. The company also issued a weak outlook. The stock was lost $8.14 to $58.77.

Perrigo slumped 11.7 percent after investors reacted to several disclosures by the Irish drugmaker, including disappointing guidance for 2017 and the company's decision to sell its royalty rights to a multiple sclerosis drug for as much as $2.85 billion. Perrigo said the sale will hurt its earnings, but noted it plans to use the proceeds to pay down some of its debts. The stock slid $9.91 to $74.77.

Improved earnings and outlooks gave weight loss company Nutrisystem a big boost. The stock vaulted $7.30, or 18.6 percent, to $46.50.

Shares in Priceline climbed 5.6 percent after the online booking company posted strong quarterly earnings. The stock gained $92.12 to $1,724.13.

Online brokers fell sharply after Fidelity announced a cut in trading commissions.

ETrade Financial fell $2.69, or 7.2 percent, to $34.51, while Charles Schwab gave up $1.32, or 3.2 percent, to $40.41. TD Ameritrade slid $4.56, or 10.5 percent, to $39.10. Fidelity is privately held.

Signet Jewelers was the biggest decliner in the S&P 500 following a report of widespread sexual harassment and discrimination at a subsidiary. The Washington Post first reported the allegations Monday, based on newly released class-action arbitration filings. The stock tumbled $9.29, or 12.7 percent, to $63.59.

Investors also weighed new data on the economy. The Commerce Department said that the U.S. economy grew at a 1.9 percent rate in the last three months of 2016, unchanged from an initial estimate. The increase in the gross domestic product, the broadest measure of economic health, represented a significant slowdown from 3.5 percent growth recorded in the third quarter.

The major indexes in Europe notched gains. Germany's DAX rose 0.1 percent, while the CAC 40 in France gained 0.3 percent. The FTSE 100 index of leading British shares added 0.1 percent.

Earlier in Asia, Japan's benchmark Nikkei 225 index trimmed strong earlier gains to finish less than 0.1 percent higher. South Korea's Kospi rose 0.3 percent. Hong Kong's Hang Seng lost 0.8 percent. Australia's S&P/ASX 200 shed 0.2 percent to 5,712.20.

Benchmark U.S. crude slipped 4 cents, or 0.1 percent, to close at $54.01 a barrel in New York. Brent crude, which is used to price international oils, fell 34 cents, or 0.6 percent, to close at $55.59 a barrel in London.

In other energy trading, wholesale gasoline shed 2 cents to $1.51 a gallon, while heating oil slid 2 cents to $1.62 a gallon. Natural gas futures rose 8 cents, or 3 percent, at $2.77 per 1,000 cubic feet.

Among metals, the price of gold fell $4.90 to $1,253.90 an ounce. Silver added 7 cents to $18.42 an ounce. Copper rose 2 cents to $2.70 a pound.

In currency trading, the dollar fell to 112.17 yen from 112.80 on Monday. The euro strengthened to $1.0597 from $1.0589.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 303 points or ▲ 1.46% on Wednesday, March 1, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 21,115.55 ▲ 303.31 ▲ 1.46% .
Nasdaq____ 5,904.03 ▲ 78.59 ▲ 1.35% .
S&P_500___ 2,395.96 ▲ 32.32 ▲ 1.37% .
30_Yr_Bond____ 3.07 ▲ 0.10 ▲ 3.47% .

NYSE Volume 4,318,562,500
Nasdaq Volume 2,240,406,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,382.90 ▲ 119.46 ▲ 1.64% .
DAX_____ 12,067.19 ▲ 232.78 ▲ 1.97% .
CAC_40__ 4,960.83 ▲ 102.25 ▲ 2.10% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,750.90 ▼ -10.10 ▼ -0.18% .
Shanghai_Comp 3,246.93 ▲ 5.20 ▲ 0.16% .
Taiwan_Weight 9,674.78 ▼ -75.69 ▼ -0.78% .
Nikkei_225___ 19,393.54 ▲ 274.55 ▲ 1.44% .
Hang_Seng.__ 23,776.49 ▲ 35.76 ▲ 0.15% .
Strait_Times.__ 3,122.77 ▲ 26.16 ▲ 0.84% .
NZX_50_Index_ 7,148.78 ▼ -18.68 ▼ -0.26% .

http://finance.yahoo.com/news/us-stocks-surge-early-trading-dow-crosses-21-152328361--finance.html


Record highs for US stocks; Dow crosses 21,000-point mark

ALEX VEIGA

Investors bet big on U.S. stocks Wednesday, giving the market its biggest single-day gain in nearly four months and pushing the major indexes to record highs.

The Dow Jones industrial average rose above 21,000 points for the first time in what was the biggest gain for the blue-chip index so far this year.

Banks were the biggest gainers amid heightened expectations that an improving economy will lead to higher interest rates. Energy stocks also notched big gains. Utilities and real estate stocks lagged. The dollar strengthened against the yen and euro and other major currencies. Bond prices fell, as did the price of crude oil and gold.

Optimism over corporate tax cuts, deregulation and other business-friendly policy proposals reiterated by President Donald Trump during a speech before Congress helped fuel the rally. Growing speculation that the Federal Reserve may soon elect to raise interest rates again also helped put traders in a buying mood.

"We're seeing a strong risk-on rally in the face of rising expectations of Fed action as early as March based on a belief there will be a pro-growth agenda that gets enacted," said Bill Northey, chief investment officer of the Private Client Group at U.S. Bank. "It's been what I would characterize as a bit of market euphoria on the back of the president's address to the joint session of Congress last night."

The Dow jumped 303.31 points, or 1.5 percent, to 21,115.55. At one point, the 30-company average was up more than 356 points. The Dow hadn't been up more than 300 points in one day since November.

The Standard & Poor's 500 index gained 32.32 points, or 1.4 percent, to 2,395.96. That's the biggest single-day gain for the index, the benchmark favored by professional investors, since early November.

The Nasdaq composite index added 78.59 points, or 1.4 percent, to 5,904.03. Small-company stocks continued to outpace the rest of the market, a bullish signal on the economy. The Russell 2000 index rose 26.95 points, or 1.9 percent, to 1,413.64.

All four indexes closed at new all-time highs. Each had set new highs last month.

Bond prices fell and yields rose after a key Federal Reserve official, New York Fed President William Dudley, said the case for raising interest rates had gotten stronger. The 10-year Treasury yield rose to 2.46 percent from 2.40 percent late Tuesday.

Strong gains in major global stock indexes overnight and into early Wednesday hinted at the possibility of another milestone day for Wall Street.

Better-than-expected company earnings and outlooks from Lowe's, Big 5 Sporting Goods and other companies also helped give the market a boost.

But it is the prospect of more profitable days ahead for Corporate America that encouraged investors to pile into stocks.

On Tuesday night, Trump struck a less confrontational tone than usual and steered away from dramatically negative descriptions of the state of the U.S. economy. Trump also reaffirmed his pledges to reform taxes, slash red tape and ramp up spending on defense and infrastructure projects, though his remarks offered few new policy specifics. The proposed reforms have helped send U.S. stock benchmarks to record highs in the weeks since the election in November.

"The market has shifted from being worried about lower growth for longer, to expecting more growth sooner rather than later," said Chris Zaccarelli, chief investment officer for Cornerstone Financial Partners.

Financials led all other sectors in the S&P 500, climbing 2.8 percent. The sector is up 8.1 percent this year. JPMorgan Chase climbed $2.98, or 3.3 percent, to $93.60. Goldman Sachs rose $4.65, or 1.9 percent, to $252.71.

Traders bid up shares in several companies that reported strong quarterly results or outlooks.

Lowe's climbed $7.08, or 9.5 percent, to $81.45, while Big 5 Sporting Goods gained $1.75, or 13 percent, to $15.20.

Builders FirstSource, a maker of building materials, jumped 12.4 percent, getting a boost from rising lumber prices. The stock gained $1.60 to $14.54.

Babcock & Wilcox Enterprises was among the biggest laggards. The energy sector supply company sank 37.4 percent after its latest quarterly report card and guidance fell short of financial analysts' expectations. The stock lost $6.17 to $10.33.

Etsy slumped 11.8 percent after the online crafts marketplace issued guidance that fell short of Wall Street's expectations. The stock shed $1.43 to $10.69.

Markets overseas posted solid gains.

In Europe, Germany's DAX rose 2 percent, while France's CAC 40 gained 2.1 percent. Britain's FTSE 100 picked up 1.6 percent. Earlier in Asia, Japan's benchmark Nikkei 225 gained 1.4 percent and Hong Kong's Hang Seng added 0.2 percent.

U.S. crude fell 18 cents to $53.83 a barrel in New York. Brent crude, used to price international oils, lost 15 cents to close at $56.36 a barrel in London.

Wholesale gasoline shed 5 cents, or 3 percent, to close at $1.68 a gallon, while heating oil slid 2 cents to $1.62 a gallon. Natural gas rose 3 cents to close at $2.80 per 1,000 cubic feet.

The dollar rose to 113.71 yen from 112.17 yen. The euro slipped to $1.0544 from $1.0597.

The price of gold fell $3.90 to $1,250 an ounce. Silver added 2 cents to $18.44 an ounce. Copper rose 2 cents to $2.73 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -113 points or ▼ -0.53% on Thursday, March 2, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 21,002.97 ▼ -112.58 ▼ -0.53% .
Nasdaq____ 5,861.22 ▼ -42.81 ▼ -0.73% .
S&P_500___ 2,381.92 ▼ -14.04 ▼ -0.59% .
30_Yr_Bond____ 3.08 ▲ 0.01 ▲ 0.36% .

NYSE Volume 3,820,742,750
Nasdaq Volume 2,163,959,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,382.35 ▼ -0.55 ▼ -0.01% .
DAX_____ 12,059.57 ▼ -7.62 ▼ -0.06% .
CAC_40__ 4,963.80 ▲ 2.97 ▲ 0.06% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,820.70 ▲ 69.80 ▲ 1.21% .
Shanghai_Comp 3,230.03 ▼ -16.91 ▼ -0.52% .
Taiwan_Weight 9,691.80 ▲ 17.02 ▲ 0.18% .
Nikkei_225___ 19,564.80 ▲ 171.26 ▲ 0.88% .
Hang_Seng.__ 23,728.07 ▼ -48.42 ▼ -0.20% .
Strait_Times.__ 3,136.48 ▲ 13.71 ▲ 0.44% .
NZX_50_Index_ 7,175.83 ▲ 27.05 ▲ 0.38% .

http://finance.yahoo.com/news/us-stock-indexes-mixed-early-152937227.html

US stock indexes pull back from record highs; Oil falls

ALEX VEIGA

Banks and other financial companies led a slide in U.S. stocks Thursday, erasing some of the gains from a day earlier, when indexes soared to their latest record highs.

Materials and industrials companies also fell sharply. Energy stocks declined along with the price of crude oil. Utilities and phone company stocks bucked the broader market slide.

Investors mostly focused on the latest batch of company news and earnings reports. Traders had an eye on the Federal Reserve amid growing speculation this week that the central bank will raise interest rates again later this month.

"You have the market wondering if the economy is in fact strong enough for a rate hike at this point," said Quincy Krosby, market strategist at Prudential Financial. "After the run-up we had yesterday, this is a good excuse for the market to pause."

The Dow Jones industrial average lost 112.58 points, or 0.5 percent, to 21,002.97. The Standard & Poor's 500 index fell 14.04 points, or 0.6 percent, to 2,381.92. The Nasdaq composite index slid 42.81 points, or 0.7 percent, to 5,861.22.

Small-company stocks fell more than the rest of the market. The Russell 2000 index gave up 17.97 points, or 1.3 percent, to 1,395.67.

The stock market was coming off its biggest single-day gain in nearly four months.

Bond prices fell, pushing yields higher. The 10-year Treasury yield rose to 2.48 percent from 2.46 percent late Wednesday.

Several Federal Reserve officials, including Fed Chair Janet Yellen, are scheduled to speak this week ahead of their next policy meeting later this month. Earlier this week, New York Fed President William Dudley said the case for raising interest rates had gotten stronger. That's helped fuel speculation that the central bank will raise interest rates again this month.

"While it's plausible the Fed lets the U.S. economy run hot before acting, the economic backdrop, in our view, warrants a Fed hike in March," said Terry Sandven, chief equity strategist at U.S. Bank Wealth Management. "In a slow-growth, improving environment we think that's favorable for equities."

Banks, which investors bid sharply higher Wednesday on hopes that higher interest rates would help them earn more from lending, were the biggest losers Thursday.

Citizens Financial Group fell $1.54, or 3.9 percent, to $38.05, while Regions Financial slid 59 cents, or 3.7 percent, to $15.32. Zions Bancorporation gave up $1.57, or 3.4 percent, to $44.96.

The major stock indexes headed lower from the get-go early Thursday as investors considered results from several companies that reported disappointing earnings or forecasts.

Kroger slid 4.3 percent after the supermarket operator said business conditions in the first half of 2017 will remain difficult due to low food prices. The stock fell $1.39 to $30.67.

Barnes & Noble tumbled 8.6 percent after the book seller reported weaker-than-expected earnings and sales of its Nook e-book reader. The company also said business worsened in late January and into the current quarter and forecast a bigger decline in sales at established locations. Its shares slid 85 cents to $9.05.

Shake Shack lost 2.6 percent after the restaurant chain's sales at established locations and its revenue outlook fell short of Wall Street's forecasts. Its shares lost 95 cents to $35.17.

Some companies fared better.

Monster Beverage jumped 12.8 percent after the company's latest quarterly earnings and revenue exceeded Wall Street's expectations. The stock was the biggest gainer in the S&P 500, climbing $5.36 to $47.37.

Abercrombie & Fitch vaulted 13.9 percent after the clothing company said its Hollister brand did well in its most recent quarter. The stock added $1.63 to $13.32.

Best Buy climbed 6.4 percent after rival hhgregg announced plans to close 88 stores and three distribution facilities. Best Buy gained $2.71 to $44.85.

Investors also jumped at the chance to snap up shares in Snap, the parent company of the Snapchat messaging app. The stock soared 44 percent in its stock market debut, climbing to $24.48, far above its initial price of $17.

News that federal law enforcement officials executed a search warrant last week of several Caterpillar facilities sent shares in the farming and construction equipment manufacturer sliding 4.3 percent. The company said it is cooperating with law enforcement, but did not elaborate. The stock lost $4.22 to $94.36.

In Europe, Germany's DAX slipped 0.1 percent, while France's CAC 40 was 0.1 percent higher. Britain's FTSE 100 was flat. Earlier in Asia, Tokyo's Nikkei 225 stock index rose 0.9 percent, while the Hang Seng index in Hong Kong added 0.5 percent.

The price of U.S. crude fell $1.22, or 2.3 percent, to close at $52.61 a barrel in New York. Brent crude, used to price international oils, lost $1.28, or 2.3 percent, to close at $55.08 a barrel.

Wholesale gasoline shed 3 cents, or 2.1 percent, to close at $1.64 a gallon. Heating oil slid 5 cents, or 2.8 percent, to close at $1.58 a gallon. Natural gas rose 1 cent to close at $2.80 per 1,000 cubic feet.

The dollar strengthened to 114.51 yen from 113.71 yen on Wednesday. The euro weakened to $1.0501 from $1.0544.

Gold fell $17.10, or 1.4 percent, to $1,232.90 an ounce. Silver slid 74 cents, or 4 percent, to $17.71 an ounce. Copper shed 5 cents, or 1.7 percent, to $2.68 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 2.74 points or ▲ 0.01% on Friday, March 3, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 21,005.71 ▲ 2.74 ▲ 0.01% .
Nasdaq____ 5,870.75 ▲ 9.53 ▲ 0.16% .
S&P_500___ 2,383.12 ▲ 1.20 ▲ 0.05% .
30_Yr_Bond____ 3.08 ▲ 0.00 ▲ 0.06% .

NYSE Volume 3,493,376,000
Nasdaq Volume 2,013,145,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,374.26 ▼ -8.09 ▼ -0.11% .
DAX_____ 12,027.36 ▼ -32.21 ▼ -0.27% .
CAC_40__ 4,995.13 ▲ 31.33 ▲ 0.63% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,775.40 ▼ -45.30 ▼ -0.78% .
Shanghai_Comp 3,218.31 ▼ -11.72 ▼ -0.36% .
Taiwan_Weight 9,648.21 ▼ -43.59 ▼ -0.45% .
Nikkei_225___ 19,469.17 ▼ -95.63 ▼ -0.49% .
Hang_Seng.__ 23,552.72 ▼ -175.35 ▼ -0.74% .
Strait_Times.__ 3,122.34 ▼ -14.14 ▼ -0.45% .
NZX_50_Index_ 7,160.87 ▼ -14.96 ▼ -0.21% .

http://finance.yahoo.com/news/us-stock-indexes-edge-lower-early-trading-oil-151812368--finance.html

Banks, health care companies lead stocks slightly higher

ALEX VEIGA

A late wave of buying helped nudge U.S. stock indexes slightly higher Friday after a day of mostly listless trading.

Banks and health care stocks climbed the most as investors priced in an increasing likelihood that interest rates will rise in the coming months.

Federal Reserve Chair Janet Yellen helped stoke those expectations in a speech in which she said an improving job market and rising inflation would likely prompt the central bank to increase borrowing costs.

"The real takeaway here is if the Fed is willing to start moving, they see the economy as not only doing better but likely to do better going forward," said Brad McMillan, chief investment officer at Commonwealth Financial Network. "The Fed is notorious for waiting until the evidence of growth is absolutely undeniable."

The Dow Jones industrial average rose 2.74 points, or 0.01 percent, to 21,005.71. The Standard & Poor's 500 index gained 1.20 points, or 0.1 percent, to 2,383.12. The Nasdaq composite index added 9.53 points, or 0.2 percent, to 5,870.75. Small-company stocks fell. The Russell 2000 index slipped 1.54 points, or 0.1 percent, to 1,394.13.

Speaking in Chicago on the Fed's economic outlook Friday, Yellen said the Fed will likely resume raising interest rates later this month to reflect a strengthening job market and inflation edging toward the central bank's 2 percent target rate.

Yellen added that the central bank expects steady economic improvement to justify additional rate increases. While not specifying how many rate hikes could occur this year, Yellen noted that Fed officials in December had estimated that there would be three this year.

Investors' expectations of a rate hike this month had been building in recent days as remarks by other Fed officials signaled the central bank is ready to resume raising rates as soon as its next two-day meeting of policymakers on March 14-15.

That's one reason the major indexes moved little before and after Yellen's speech.

Still, the increased likelihood of higher interest rates gave several stocks a modest lift, including banks, which stand to make healthier profits from lending as rates rise. Bank of the Ozarks added $1.09, or 2 percent, to $56.24, while Signature Bank rose $2.79, or 1.7 percent, to $162.24.

Not faring as well were real estate, utilities and phone company stocks, which tend to lose favor among yield-seeking investors when interest rates rise.

"If yields are going up you don't need to buy those stocks to get your yield, you just buy 10-Year Treasury notes," said John Canally, chief economic strategist for LPL Financial.

Bond prices were little changed after pulling back from an early climb. The 10-year Treasury yield held steady at 2.48 percent.

Wall Street's slight gains on Friday left the stock market hovering near its latest record highs set on Wednesday.

Stronger-than-expected earnings from companies, continued improvement in the U.S. economy and expectations for business-friendly policies from Washington have helped propel the market this year to new highs. Should investors be nervous about a pullback?

"In the very short term there is some risk of a pullback," said Randy Frederick, vice president of trading and derivatives at the Schwab Center for Financial Research. "I wouldn't say it's likely to approach anything close to a correction, or a 10 percent pullback. Long-term, we continue to think we're solidly in a bull market."

Airlines were among the stocks that notched solid gains Friday.

American Airlines Group rose $1.10, or 2.4 percent, to $46.82, while Alaska Air Group added $2.58, or 2.7 percent, to $98.94. United Continental picked up $2.31, or 3.2 percent, to $75.59.

Disappointing company earnings and outlooks pulled down several stocks.

Costco fell $7.72, or 4.3 percent, to $170.26. Firearms manufacturer American Outdoor Brands, formerly called Smith & Wesson, declined 55 cents, or 2.8 percent, to $18.83.

Revlon slid $1.40, or 4.1 percent, to $32.65, while L Brands, the parent of Victoria's Secret, fell $1.07, or 2 percent, to $52.34.

Macy's also fell sharply, one of several retailers that closed lower Friday. The department store chain declined the most among stocks in the S&P 500, skidding $1.45, or 4.4 percent, to $31.77.

Big Lots bucked the trend, climbing 3.8 percent after the discount retailer reported a larger profit than analysts expected. The stock added $1.98 to $54.23.

Major indexes in Europe were mixed. Germany's DAX fell 0.3 percent, while France's CAC 40 rose 0.6 percent. Britain's FTSE slipped 0.1 percent. Earlier in Asia, Japan's Nikkei 225 index fell 0.5 percent, while South Korea's Kospi sank 1.1 percent. Hong Kong's Hang Seng index lost 0.7 percent.

Energy futures rose. Benchmark U.S. crude gained 72 cents, or 1.4 percent, to close at $53.33 a barrel in New York. Brent crude, used to price international oils, added 82 cents, or 1.5 percent, to close at $55.90 a barrel in London. Wholesale gasoline picked up a penny to close at $1.65 a gallon. Heating oil added a penny to close at $1.59 a gallon. Natural gas rose 2 cents to close at $2.83 per 1,000 cubic feet.

The dollar fell to 114.04 yen from 114.51 yen on Thursday. The euro rose to $1.0599 from $1.0502.

Gold fell $6.40 to $1,226.50 an ounce. Silver slipped a penny to $17.70 an ounce. Copper rose a penny to $2.69 a pound.

2444

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -51 points or ▼ -0.24% on Monday, March 6, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,954.34 ▼ -51.37 ▼ -0.24% .
Nasdaq____ 5,849.18 ▼ -21.58 ▼ -0.37% .
S&P_500___ 2,375.31 ▼ -7.81 ▼ -0.33% .
30_Yr_Bond____ 3.10 ▲ 0.01 ▲ 0.45% .

NYSE Volume 3,231,479,750
Nasdaq Volume 1,921,194,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,350.12 ▼ -24.14 ▼ -0.33% .
DAX_____ 11,958.40 ▼ -68.96 ▼ -0.57% .
CAC_40__ 4,972.19 ▼ -22.94 ▼ -0.46% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,788.50 ▲ 13.10 ▲ 0.23% .
Shanghai_Comp 3,233.87 ▲ 15.55 ▲ 0.48% .
Taiwan_Weight 9,682.63 ▲ 34.42 ▲ 0.36% .
Nikkei_225___ 19,379.14 ▼ -90.03 ▼ -0.46% .
Hang_Seng.__ 23,596.28 ▲ 43.56 ▲ 0.18% .
Strait_Times.__ 3,121.51 ▼ -0.83 ▼ -0.03% .
NZX_50_Index_ 7,178.74 ▲ 17.87 ▲ 0.25% .

http://finance.yahoo.com/news/us-stocks-slip-further-record-152145443.html

Losses for banks pull US stocks further from record highs

MARLEY JAY

NEW YORK (AP) — U.S. stocks finished lower Monday for the second time in the last three trading days. Banks gave back some of their recent gains after a jump in interest rates last week sent them sharply higher.

Mining and chemical companies declined after China cut its economic growth forecast, and airlines slumped after a Delta said its business isn't improving as fast as it hoped. There were few winners to be found on Wall Street as more than two-thirds of the stocks on the New York Stock Exchange fell. That included consistent losses for banks, investment firms and insurance companies.

The Standard & Poor's 500 index fell 7.81 points, or 0.3 percent, to 2,375.31. The Dow Jones industrial average lost 51.37 points, or 0.2 percent, to 20,954.34. The Nasdaq composite lost 21.58 points, or 0.4 percent, to 5,849.17. The Russell 2000 index of smaller-company stocks sank 9.88 points, or 0.7 percent, to 1,384.25.

All four indexes reached all-time highs last week, and the S&P 500 and Nasdaq have risen for six weeks in a row. That's on top of a big surge in November and December. Those rapid gains the last few months have prompted some analysts to turn cautious.

"We think there's a reasonable chance at the end of the year we'll be a little bit lower than we are right now," said Scott Wren, senior global equity strategist at Wells Fargo Investment Institute.

Over the weekend Premier Li Keqiang, China's top economic official, trimmed the country's growth target to 6.5 percent. The Chinese economy is the second-largest in the world, and the prospect of slower growth there hurt mining, packaging and chemical companies and sent the price of copper lower.

But investors weren't nearly as alarmed about the latest signs of slowing growth in China as they were in the past. Stocks plunged in early 2016 as investors worried the Chinese economy might weaken in a hurry and drag the global economy down with it. Wren said Wall Street now thinks growth in China will slow down gradually.

"The market's pretty comfortable with this controlled slowdown," he said. "A lot of that sell-off was due to the fear that Chinese growth was ... basically going to collapse," he said.

Delta Air Lines gave a disappointing revenue projection for the second quarter and its stock lost $1.28, or 2.6 percent, to $48.85. United and American Airlines each fell 3 percent.

Poultry companies slumped after 70,000 chickens were killed at a Tennessee farm after a bird flu outbreak was discovered there. The affected farm is a supplier to Tyson Foods, and while Tyson said it doesn't expect its business to suffer, the new brought back bad memories for investors: in 2015, U.S. poultry producers lost 48 million birds to a different strain of the virus.

Tyson stock gave up $1.61, or 2.5 percent, to $61.99. Sanderson Farms gave up $1.86, or 2 percent, to $92.53 and Pilgrim's Pride lost 25 cents, or 1.2 percent, to $20.70.

French automaker PSA Group agreed to buy General Motors' European business, which has lost $20 billion since 1999 and hasn't made an annual profit over that span. Investors were glad to see it go, as GM's stock jumped almost 5 percent when the talks were disclosed last month. PSA makes Peugeot and Citroen cars, and the addition of the Opel and Vauxhall brands will make it the second-largest automaker in Europe. Its stock rose 2.7 percent.

GM's stock dipped 32 cents to $37.91.

Bond prices continued to slip. The yield on the 10-year Treasury note rose to 2.49 percent from 2.48 percent. Bond yields jumped last week as investors grew more certain the Federal Reserve will raise interest rates this month.

Companies that pay big dividends, like real estate investment trusts, fell again. Those stocks are often compared to bonds because of their high yields, and higher bond yields make them less appealing to investors.

Benchmark U.S. crude lost 13 cents to $53.20 a barrel in New York. Brent crude, used to price international oils, picked up 11 cents to $56.01 a barrel in London. Natural gas companies rose as futures jumped 2.6 percent to $2.90 per 1,000 cubic feet.

In other energy trading, wholesale gasoline rose 2 cents to $1.67 a gallon and heating oil picked up 1 cent to $1.60 a gallon.

Gold fell $1 to $1,225.50 an ounce. Silver rose 3 cents to $17.77 an ounce. Copper lost 4 cents, or 1.7 percent, to $2.65 a pound.

The dollar inched down to 113.92 yen from 114.05 yen. The euro dipped to $1.0588 from $1.0605.

In Germany the DAX fell 0.6 percent. France's CAC 40 slipped 0.5 percent and the FTSE 100 in Britain shed 0.3 percent. Japan's Nikkei 225 stock index fell 0.5 percent and the South Korean Kospi gained 0.1 percent. Hong Kong's Hang Seng index added 0.2 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -30 points or ▼ -0.14% on Tuesday, March 7, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,924.76 ▼ -29.58 ▼ -0.14% .
Nasdaq____ 5,833.93 ▼ -15.25 ▼ -0.26% .
S&P_500___ 2,368.38 ▼ -6.93 ▼ -0.29% .
30_Yr_Bond____ 3.11 ▲ 0.01 ▲ 0.39% .

NYSE Volume 3,502,167,750
Nasdaq Volume 1,902,514,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,338.99 ▼ -11.13 ▼ -0.15% .
DAX_____ 11,966.14 ▲ 7.74 ▲ 0.06% .
CAC_40__ 4,955.00 ▼ -17.19 ▼ -0.35% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,801.90 ▲ 13.40 ▲ 0.23% .
Shanghai_Comp 3,242.41 ▲ 8.54 ▲ 0.26% .
Taiwan_Weight 9,738.07 ▲ 55.44 ▲ 0.57% .
Nikkei_225___ 19,344.15 ▼ -34.99 ▼ -0.18% .
Hang_Seng.__ 23,681.07 ▲ 84.79 ▲ 0.36% .
Strait_Times.__ 3,130.44 ▲ 8.93 ▲ 0.29% .
NZX_50_Index_ 7,167.63 ▼ -11.11 ▼ -0.15% .

http://finance.yahoo.com/news/health-care-stocks-fall-early-153122207.html

Losses for drugmakers, hospitals pull stocks lower

MARLEY JAY

NEW YORK (AP) — U.S. stocks declined for the third time in four days on Tuesday as health care companies took center stage.

Drugmakers fell after President Donald Trump said he wants to bring drug prices down. Insurers rose and hospital companies dropped after Republicans in Congress introduced a bill intended to replace the 2010 Affordable Care Act.

Pharmaceutical and biotechnology companies fell after Trump said in a morning tweet that he intends to bring down drug prices. The health care proposal gave big health insurers a boost, but hurt companies that do a lot of business with Medicaid.

It's not clear if the bill will pass the Senate, as several Republicans have already questioned it. Stocks turned lower at the end of the day as that criticism increased, leaving the fate of the current bill, a key part of Trump's agenda, uncertain.

"We're going to still be having this conversation six months from now," said Les Funtleyder, health care portfolio manager for E Squared Asset Management.

Elsewhere, energy companies continued to slip and technology companies made smallish gains. Stocks hadn't fallen for two consecutive days since the end of January, and set their latest record highs last Wednesday.

The Standard & Poor's 500 index lost 6.92 points, or 0.3 percent, to 2,368.39. The Dow Jones industrial average lost 29.58 points, or 0.1 percent, to 20,924.76. The Nasdaq composite sagged 15.25 points, or 0.3 percent, to 5,833.93. Two stocks fell for every one that rose on the New York Stock Exchange.

On Thursday the current bull market will turn eight years old. It's lasted longer than any other since World War II except for the decade-long run that ended in early 2000.

Since the middle of 2015 drug companies have repeatedly tumbled as investors worried that the government would take action to reduce prices or at least curb price increases. While Trump has talked about dealing with the issue before, he has never discussed details. Funtleyder said the task might be harder than it sounds.

"There's no government mechanism at the moment to control costs directly," he said.

Companies that make high-price drugs took some of the largest losses. Biotechnology company Alexion Pharmaceuticals shed $4.15, or 3.1 percent, to $129.18. Alexion makes Soliris, a high-priced drug that treats two rare genetic disorders. Mallinckrodt, which has faced criticism over repeated increases in the price of its HP Acthar gel, gave up $1.55, or 3 percent, to $49.71.

Pharmacy benefits manager Express Scripts and biotech company Gilead Sciences each fell as they bickered over the price of Gilead's hepatitis C drugs, some of which are listed at $1,000 a pill. Express Scripts lost $2.66, or 3.8 percent, to $67.39 and Gilead slid $1.10, or 1.6 percent, to $69.02.

The Republican health care legislation would provide tax credits for people buying their own insurance and would scale back the government's role in helping people afford coverage. It would likely leave more Americans uninsured and would also overhaul Medicaid, a joint federal-state health program for low-income Americans.

Hospital operators tumbled. Community Health Systems lost 9.3 percent and Tenet Healthcare sank 7.1 percent. Insurers that do a lot of business with Medicaid, such as Molina Healthcare, also fell. But the largest national health insurers did better than the rest of the market. Humana added $5.21, or 2.4 percent, to $217.95, the largest gain among S&P 500 stocks.

Benchmark U.S. crude lost 6 cents to $53.14 a barrel in New York. Brent crude, used to price international oils, lost 9 cents to $55.92 a barrel in London. Energy companies continued to lag the market, however, continuing a pattern that's persisted since late last year. Hess lost $1.52, or 3 percent, to $49.51 and Exxon Mobil slipped 31 cents, or 0.4 percent, to $82.52 while natural gas companies fell with the price of that fuel.

Technology companies did better than the rest of the market. Video game maker Electronic Arts rose $1.16, or 1.3 percent, to $88.30. Data storage company Nimble Storage soared after it agreed to be bought by Hewlett Packard Enterprise $12.50 a share, or about $1 billion. Its stock rose $3.98, or 46.3 percent, to $12.58.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.52 percent from 2.50 percent.

In other energy trading, wholesale gasoline rose 1 cent to $1.68 a gallon. Heating oil added 1 cent to $1.61 a gallon. Natural gas fell 8 cents, or 2.7 percent, to $2.82 per 1,000 cubic feet.

Gold dropped $9.40 to $1,216.10 an ounce. Silver lost 24 cents, or 1.3 percent, to $17.54 an ounce. Copper fell 3 cents, or 1.3 percent, to $2.62 a pound.

The dollar bounced back to 114.05 yen from 113.92 yen. The euro fell to $1.0568 from $1.0588.

The CAC 40 in France traded 0.3 percent lower. Germany's DAX rose 0.1 percent and the FTSE 100 index in Britain slid 0.2 percent. The Nikkei 225 stock index in Tokyo edged 0.2 percent lower. The Hang Seng gained 0.4 percent and South Korea's Kospi gained 0.6 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -69 points or ▼ -0.33% on Wednesday, March 8, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,855.73 ▼ -69.03 ▼ -0.33% .
Nasdaq____ 5,837.55 ▲ 3.62 ▲ 0.06% .
S&P_500___ 2,362.98 ▼ -5.41 ▼ -0.23% .
30_Yr_Bond____ 3.15 ▲ 0.04 ▲ 1.16% .

NYSE Volume 3,810,930,000
Nasdaq Volume 1,855,787,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,334.61 ▼ -4.38 ▼ -0.06% .
DAX_____ 11,967.31 ▲ 1.17 ▲ 0.01% .
CAC_40__ 4,960.48 ▲ 5.48 ▲ 0.11% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,799.50 ▼ -2.40 ▼ -0.04% .
Shanghai_Comp 3,240.66 ▼ -1.74 ▼ -0.05% .
Taiwan_Weight 9,753.45 ▲ 15.38 ▲ 0.16% .
Nikkei_225___ 19,254.03 ▼ -90.12 ▼ -0.47% .
Hang_Seng.__ 23,782.27 ▲ 101.20 ▲ 0.43% .
Strait_Times.__ 3,145.29 ▲ 14.85 ▲ 0.47% .
NZX_50_Index_ 7,178.22 ▲ 10.59 ▲ 0.15% .

http://finance.yahoo.com/news/us-st...private-hiring-report-151204817--finance.html

Stock indexes end mostly lower as the price of oil plunges

MARLEY JAY

NEW YORK (AP) — U.S. stocks fell for the third day in a row as energy companies tumbled along with the price of crude oil. Investors also sold high-dividend stocks as bond yields rose, giving investors other alternatives for seeking income.

Crude oil prices fell 5 percent, their biggest drop in more than a year, after the government reported a big buildup in fuel stockpiles.

A survey by a payroll company showed that private companies added the most jobs in three years in February, a sign of stronger economic growth. That helped send bond prices lower and yields higher. The report showed big increases in construction and manufacturing hiring.

According to industry measurements and government data, manufacturing and business investment have improved in the last few months after a steep slump. However investors have longed for evidence manufacturing and construction companies were bringing on more workers, and there wasn't much of that until Wednesday.

"It's not surprising that you would start to see the hiring improve in that sector," said Katie Nixon, chief investment officer for Northern Trust. "It's been a drag on economic growth the last couple of years."

The Standard & Poor's 500 index dipped 5.41 points, or 0.2 percent, to 2,362.98. The Dow Jones industrial average lost 69.03 points, or 0.3 percent, to 20,855.73. The Nasdaq composite rose 3.62 points, or 0.1 percent, to 5,836.55 as health care and technology companies moved higher.

Private businesses added 298,000 jobs last month, according to payroll processor ADP. That came after a slightly smaller gain in January. The U.S. government will issue its own report on the broader jobs market Friday.

Bond prices dropped. The yield on the 10-year Treasury note jumped to 2.56 percent from 2.52 percent.

Federal Reserve policymakers will meet next week, and investors expect the central bank to raise interest rates for the first time since December. Nixon says long-term bond yields could reach roughly 3 percent in a few months.

Stocks that pay big dividends such as utilities and real estate investment trusts are often compared to bonds because of their hefty payments to shareholders. When bond yields rise, investors often sell those stocks so they can buy bonds instead. High-dividend companies also fall out of favor when Wall Street expects faster economic growth. Utility holding company PG&E gave up $1.10, or 1.7 percent, to $65.16 and Realty Income dropped $2.14, or 3.6 percent, to $57.70.

The Energy Information Administration said oil reserves grew by 8 million barrels last week, far more than analysts expected. Benchmark U.S. crude sagged $2.86, or 5.4 percent, to $50.28 a barrel in New York, its lowest price since late November. Brent crude, used to price international oils, fell $2.81, or 5 percent, to $53.11 a barrel in London.

Energy stocks are already lagging the market in 2017, and on Wednesday the 13 biggest losers among S&P 500 companies all came from the energy industry. Marathon Oil lost $1.41, or 8.7 percent, to $14.87 and Devon Energy sank $2.84, or 6.5 percent, to $40.72.

Almost three-fourths of the stocks on the New York Stock Exchange finished lower as some sectors that might have been expected to rise on the prospect of faster economic growth missed out on the day's gains.

Banks, which have skyrocketed since the election, finished little changed despite the jump in bond yields. Industrial companies declined. Caterpillar lost $2.70, or 2.8 percent, to $93.23 as a government probe into its taxes and accounting remained in the news. Smaller, domestically focused companies also fell, as the Russell 2000 index of small-company stocks fell 8.84 points, or 0.6 percent, to 1,366.04.

Medical device and equipment makers moved slightly higher, and biotechnology companies bounced partway back after sharp losses a day earlier. Investors worried about price limits or cuts after President Donald Trump tweeted that he is working on a plan to reduce prices. The Nasdaq Biotechnology index rose 0.9 percent after a 1.5 percent loss Tuesday.

The dollar rose to 114.42 yen from 114.05 yen. The euro slipped to $1.0548 from $1.0568.

In other energy trading, wholesale gasoline shed 3 cents to $1.65 a gallon. Heating oil dropped 6 cents, or 3.5 percent, to $1.56 a gallon. Natural gas jumped 8 cents, or 2.7 percent, to $2.90 per 1,000 cubic feet.

Gold fell $6.70 to $1,209.40 an ounce. Silver lost 24 cents, or 1.4 percent, to $17.30 an ounce. Copper gave up 2 cents to $2.60 a pound.

The French CAC 40 rose 0.1 percent and the DAX in German was little changed. The FTSE 100 in Britain lost 0.1 percent. Tokyo's Nikkei 225 index shed 0.5 percent and in Hong Kong the Hang Seng advanced 0.4 percent. The Kospi in South Korea was unchanged.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 2.46 points or ▲ 0.01% on Thursday, March 9, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,858.19 ▲ 2.46 ▲ 0.01% .
Nasdaq____ 5,838.81 ▲ 1.25 ▲ 0.02% .
S&P_500___ 2,364.87 ▲ 1.89 ▲ 0.08% .
30_Yr_Bond____ 3.18 ▲ 0.04 ▲ 1.18% .

NYSE Volume 3,692,238,750
Nasdaq Volume 1,950,914,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,314.96 ▼ -19.65 ▼ -0.27% .
DAX_____ 11,978.39 ▲ 11.08 ▲ 0.09% .
CAC_40__ 4,981.51 ▲ 21.03 ▲ 0.42% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,780.50 ▼ -19.00 ▼ -0.33% .
Shanghai_Comp 3,216.75 ▼ -23.92 ▼ -0.74% .
Taiwan_Weight 9,658.61 ▼ -94.84 ▼ -0.97% .
Nikkei_225___ 19,318.58 ▲ 64.55 ▲ 0.34% .
Hang_Seng.__ 23,501.56 ▼ -280.71 ▼ -1.18% .
Strait_Times.__ 3,118.84 ▼ -26.45 ▼ -0.84% .
NZX_50_Index_ 7,140.98 ▼ -37.24 ▼ -0.52% .

http://finance.yahoo.com/news/stocks-hold-steady-oil-prices-151000506.html

Some Anniversary: Stocks Barely Move as Bull Market Turns 8

By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — U.S. stocks meandered Thursday as the eighth anniversary for the current bull market turned out to be a quiet one.

Large-company stocks finished mostly higher, but declines in smaller stocks across the board meant that more companies fell than rose on the New York Stock Exchange.

The market started out with small gains, then dipped in the early afternoon. Thanks to late gains for energy companies, major indexes turned higher near the end of trading.

Industrial companies dipped as heavy machinery maker Caterpillar continues to slide. Health care companies climbed and banks rose along with bond yields. Trading was light following a three-day losing streak.

The Standard & Poor's 500 index picked up 1.89 points, or 0.1 percent, to 2,364.87 Thursday. The Dow Jones industrial average gained 2.46 points to 20,858.19. The Nasdaq composite rose 1.25 points to 5,838.81. The Russell 2000 index of small-company stocks lost 5.92 points, or 0.4 percent, to 1,360.12. More than two-thirds of the stocks on the NYSE ended lower.

The S&P 500 is up 250 percent since March 9, 2009, when it bottomed out in the depths of the financial crisis. The current bull run is the second-longest since World War II and it may have a while to go, as wages are growing and hiring appears to be on the rise.

"Bull markets typically don't die of old age," said David Lefkowitz, senior equity strategist at UBS Wealth Management Americas. "They typically die because there's a downturn in the economy."

Lefkowitz said there are few signs that will happen any time soon. While the Federal Reserve is likely to raise interest rates next week, inflation remains low and he said the Fed's actions shouldn't stifle economic growth.


"The key question is how quickly does inflation continue to rise from here and how aggressive does the Fed need to get," he said.

Health care companies made the biggest gains. The leaders included Johnson & Johnson, which rose $1.85, or 1.5 percent, to $125.95. Cancer drug maker Celgene added $2.09, or 1.7 percent, to $125.13 while medical device maker Edwards Lifesciences contributed $3.53, or 3.9 percent, to $93.06.

Crude oil prices continued to slip after the U.S. government reported a huge buildup in fuel stockpiles Wednesday. Oil is now trading at its lowest price since November, before OPEC countries agreed to reduce production in an effort to shore up prices.

Benchmark U.S. oil fell $1, or 2 percent, to $49.28 a barrel in New York. Brent crude, the international standard, lost 92 cents, or 1.7 percent, to $52.19 a barrel in London. Energy companies lost ground early in the day but jumped in the final hour of trading.

Bond prices fell further. The yield on the 10-year Treasury note rose to 2.60 percent, near its highest level in the past year, from 2.56 percent. Banks and other financial firms moved up. Wells Fargo added 49 cents to $58.70 and Intercontinental Exchange picked up 67 cents, or 1.1 percent, to $60.06.

Caterpillar fell another $1.84, or 2 percent, to $91.39 as the government investigates the company's taxes and accounting. The stock is down almost 8 percent since March 1. Elsewhere, American Airlines led airlines lower after it reported weak February traffic. It lost $1.56, or 3.5 percent, to $43.33.

Sears Holdings rose 52 cents, or 6.9 percent, to $8.01 after the company took a smaller adjusted loss than it did a year ago. Investors were also pleased the struggling chain kept its inventory and expenses under control. Signet Jewelers said it will spend more money on technology as it closes mall-based stores, and its stock rose $5.62, or 8.7 percent, to $70.02.


Office supply company Staples reported fourth-quarter sales that were far weaker than analysts expected and the company said it will close another 70 stores in North America. The stock gave up 47 cents, or 5.2 percent, to $8.49.

Tailored Brands, the parent of Men's Wearhouse and Jos. A. Bank, plunged $7.53, or 32.2 percent, to $15.84. The company disclosed a bigger loss than expected along with disappointing sales. The company also said it wants to rework an agreement with Macy's, as its tuxedo shops inside Macy's stores are struggling.

The dollar rose to 114.74 yen from 114.42 yen. The euro rose to $1.0586 from $1.0548.

In other energy trading, wholesale gasoline fell 3 cents to $1.62 a gallon. Heating oil lost 3 cents to $1.53 a gallon. Natural gas rose 7 cents, or 2.5 percent, to $2.97 per 1,000 cubic feet.

Gold fell for the eighth day in a row. It lost $6.20 to $1,203.20 an ounce and the price of silver lost another 26 cents, or 1.5 percent, to $17.04 an ounce. Copper declined 2 cents to $2.58 a pound.

Britain's FTSE 100 index sank 0.3 percent while German DAX added 0.1 percent and the CAC 40 in France gained 0.4 percent. The CAC 40 has jumped 2.5 percent this month, far more than other major European indexes. Japan's benchmark Nikkei 225 index climbed 0.3 percent as a weaker yen lifted shares of exporters. South Korea's Kospi dipped 0.2 percent and the Hang Seng in Hong Kong lost 1.2 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 44.8 points or ▲ 0.21% on Friday, March 10, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,902.98 ▲ 44.79 ▲ 0.21% .
Nasdaq____ 5,861.73 ▲ 22.92 ▲ 0.39% .
S&P_500___ 2,372.60 ▲ 7.73 ▲ 0.33% .
30_Yr_Bond____ 3.17 ▼ -0.01 ▼ -0.44% .

NYSE Volume 3,421,390,250
Nasdaq Volume 2,208,180,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,343.08 ▲ 28.12 ▲ 0.38% .
DAX_____ 11,963.18 ▼ -15.21 ▼ -0.13% .
CAC_40__ 4,993.32 ▲ 11.81 ▲ 0.24% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,811.20 ▲ 30.70 ▲ 0.53% .
Shanghai_Comp 3,212.76 ▼ -3.99 ▼ -0.12% .
Taiwan_Weight 9,627.89 ▼ -30.72 ▼ -0.32% .
Nikkei_225___ 19,604.61 ▲ 286.03 ▲ 1.48% .
Hang_Seng.__ 23,568.67 ▲ 67.11 ▲ 0.29% .
Strait_Times.__ 3,133.35 ▲ 14.51 ▲ 0.47% .
NZX_50_Index_ 7,177.59 ▲ 36.61 ▲ 0.51% .

http://finance.yahoo.com/news/us-stocks-break-slump-february-jobs-report-152410882--finance.html

Stocks rise higher after strong jobs report; tech leads

MARLEY JAY

NEW YORK (AP) — Led by technology companies, U.S. stocks rose Friday after a strong February jobs report. Most parts of the market moved higher as investors wait for the Federal Reserve to meet next week. The central bank is almost universally expected to raise interest rates.

The jobs report was a bit better than investors expected, but they had assumed it would show employers are adding jobs at a solid clip. They had also anticipated since last week that the Fed will raise interest rates next Wednesday, and the data did nothing to challenge that. Technology, industrial and health care companies climbed while energy companies missed out on the rally as oil prices continued to fall.

"It was a solid report all around that reinforces that the economy is on solid footing," said Sameer Samana, a strategist for the Wells Fargo Investment Institute. Samana said investors are glad to see continued hiring and more people seeking work, but they're also glad the economy isn't gaining strength too quickly. That might force the Fed to raise interest rates faster, with uncertain effects on the economy.

"If they go too quickly or raise rates too many times, there's a risk we'll find ourselves in a downturn," he said.

The Standard & Poor's 500 index rose 7.73 points, or 0.3 percent, to 2,372.60. The Dow Jones industrial average gained 44.79 points, or 0.2 percent, to 20,902.98. The Nasdaq composite added 22.92 points, or 0.4 percent, to 5,861.73.

Stocks had mostly fallen since March 1, the day indexes soared to their most recent record highs.

Overall it was a slow week for stocks. The current bull market had its eighth anniversary, but six-week winning streaks for the S&P 500 and Nasdaq ended, and the Russell 2000 index of small-company stocks took its biggest loss in three months.

U.S. employers added 235,000 jobs in February, according to the Department of Labor. The gains in hiring and pay, along with higher consumer and business confidence since the November election, could lift spending and investment in coming months and accelerate economic growth.

A poor jobs report was probably the last thing that could have stopped the Federal Reserve from raising interest rates next week.

Technology companies climbed thanks in part to gains for chipmakers. Applied Materials gained 74 cents, or 2 percent, to $38.12 and Broadcom rose $4.34, or 2 percent, to $226.35. Texas Instruments picked up $1.20, or 1.5 percent, to $80.33.

General Electric climbed 62 cents, or 2.1 percent, to $30.28 to lead industrial companies higher. Engine maker Cummins added $2.66, or 1.8 percent, to $151.50 and industrial equipment and software maker Rockwell Automation gained $2.13, or 1.4 percent, to $154.31.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.58 percent from 2.61 percent. The dip in bond yields and interest rates pushed banks lower while big-dividend stocks went higher. Those included utilities, phone companies and makers of everyday household goods. AT&T picked up 41 cents, or 1 percent, to $42.35 and Colgate-Palmolive rose 89 cents, or 1.2 percent, to $72.46.

Beauty products retailer Ulta climbed after it reported a bigger profit and stronger sales than analysts had expected. The stock gained $12.65, or 4.6 percent, to $286.42 and it's up 75 percent over the last year. Competitor Estee Lauder gained $2.78, or 3.4 percent, to $85.66.

Oil prices moved lower for the fifth day in a row. Benchmark U.S. oil dipped another 79 cents, or 1.6 percent, to $48.49 a barrel in New York. After small losses early in the week, the price of U.S. crude dropped 9 percent over the last three days after the government reported a big increase in stockpiles. Brent crude, the international standard, lost 82 cents, or 1.6 percent, to $51.37 a barrel in London.

Meanwhile Zumiez became the latest clothing retailer to take a steep loss as analysts worried about its sales projections. The company said its sales declined in February, and its forecasts for the first quarter came up short of estimates. The stock fell $2.60, or 12.4 percent, to $18.40.

The dollar inched up to 114.78 yen from 114.74 yen. The euro rose to $1.0692 from $1.0586.

Gold fell $1.80 to $1,201.40 an ounce. That small decline was the ninth in a row for the precious metal. Silver slipped 11 cents to $16.92 an ounce. Copper gained 2 cents to $2.60 a pound.

In other energy trading, wholesale gasoline gave up 2 cents to $1.60 a gallon. Heating oil shed 3 cents to $1.50 a gallon. Natural gas gained 3 cents to $3 per 1,000 cubic feet.

The CAC 40 in France rose 0.4 percent and the FTSE 100 index in Britain picked up 0.2 percent. Germany's DAX dipped 0.1 percent. Tokyo's Nikkei 225 jumped 1.5 percent as the dollar surged against the yen, favoring manufacturers. South Korea's Kospi added 0.3 percent and in Hong Kong the Hang Seng index added 0.3 percent.

2685

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -22 points or ▼ -0.10% on Monday, March 13, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,881.48 ▼ -21.50 ▼ -0.10% .
Nasdaq____ 5,875.78 ▲ 14.06 ▲ 0.24% .
S&P_500___ 2,373.47 ▲ 0.87 ▲ 0.04% .
30_Yr_Bond____ 3.19 ▲ 0.02 ▲ 0.73% .

NYSE Volume 3,147,362,750
Nasdaq Volume 1,999,211,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,367.08 ▲ 24.00 ▲ 0.33% .
DAX_____ 11,990.03 ▲ 26.85 ▲ 0.22% .
CAC_40__ 4,999.60 ▲ 6.28 ▲ 0.13% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,794.60 ▼ -16.60 ▼ -0.29% .
Shanghai_Comp 3,237.02 ▲ 24.26 ▲ 0.76% .
Taiwan_Weight 9,697.34 ▲ 69.45 ▲ 0.72% .
Nikkei_225___ 19,633.75 ▲ 29.14 ▲ 0.15% .
Hang_Seng.__ 23,829.67 ▲ 261.00 ▲ 1.11% .
Strait_Times.__ 3,147.15 ▲ 13.80 ▲ 0.44% .
NZX_50_Index_ 7,194.79 ▲ 17.20 ▲ 0.24% .

http://finance.yahoo.com/news/wait-see-us-stocks-listless-ahead-jam-packed-141130711--finance.html

Wait and see: Stocks steady at beginning of jam-packed week

STAN CHOE

NEW YORK (AP) — Stocks held steady in a calm day of trading Monday, but the storm may be coming.

This upcoming week is full of events that could swing markets: The Federal Reserve may raise interest rates, more countries around the world may move to shake up the economic status quo and several high-profile updates on the U.S. economy are due.

That's all in the near future, though. Monday's calendar was decidedly light, and the Standard & Poor's 500 index flipped between modest gains and losses before closing at 2,373.47, up just 0.87 points, just 0.04 percent. It remains within 1 percent of its record, which was set earlier this month.

The Dow Jones industrial average fell 21.50 points, or 0.1 percent, to 20,881.48. The Nasdaq rose 14.06 points, or 0.2 percent, to 5,875.78. Three stocks rose for every two that fell on the New York Stock Exchange.

In such a hectic week, one event still stands out from the rest: the Federal Reserve's meeting on interest rates, which begins Tuesday and ends Wednesday. Most investors expect the Fed to raise rates for only the third time since they went to nearly zero during the financial crisis in 2008.

Usually, rising interest rates are bad news for stocks because they make borrowing more expensive and can be a drag on economic growth. But many analysts say this time may be different. As long as the pace is gradual, these increases will only be getting rates back to normal rather than slamming the brakes on the economy.

It was only a few weeks ago that many investors were expecting the Fed to stand pat at its March meeting and then raise rates later in the spring. But expectations have swung following a series of strong reports on the economy. The headliner was Friday's jobs report, which showed healthy levels of hiring.

A year ago, such a swing in expectations may have meant a sell-off in stocks as investors worried about the impact of higher rates, said JJ Kinahan, chief market strategist at TD Ameritrade. Now, it's met with more equanimity because investors are focusing instead on the improving economy and hopes for bigger corporate profits in the future.

"It's a very good sign," Kinahan said. "It shows that people do have faith in stocks."

Investors will likely focus more on what Fed Chair Janet Yellen has to say after the announcement than on the rate increase itself, which is expected to be only a quarter of a percentage point.

"What the market is curious about is: How many more rate increases will there be, and what is the primary data that would drive that?" Kinahan said.

The job market has been on the upswing recently, and so has inflation. But a recent drop in the price of oil may pull down inflation levels, which could encourage the Fed to move more slowly. The government will offer updates this week on inflation at both the consumer and wholesale levels, along with reports on retail sales and other economic indicators.

The yield on the 10-year Treasury note rose to 2.61 percent from 2.58 percent late Friday and is approaching its highest level since 2014. The two-year yield rose to 1.37 percent from 1.35 percent, while the 30-year yield climbed to 3.21 percent from 3.16 percent.

The Fed isn't the only central bank meeting on interest rates this week. So are the Bank of England, Bank of Japan and others around the world.

Many economists expect the Bank of England to hold steady, but another action in London could garner more attention. The government could formally begin the process of exiting the European Union. The U.K. voted to leave the union last summer, one of a growing number of populations around the world trying to throw off the status quo.

The Netherlands has its own election this week, where politicians have also railed against the European Union and immigrants. Later this year, elections will occur in France and Germany.

In Europe, France's CAC 40 rose 0.1 percent, Britain's FTSE 100 rose 0.3 percent and Germany's DAX rose 0.2 percent. In Asia, Japan's Nikkei 225 stock index rose 0.1 percent, South Korea's Kospi rose 1 percent and the Hang Seng in Hong Kong jumped 1.1 percent.

Urban Outfitters had the biggest loss in the S&P 500 after dropping 96 cents, or 3.8 percent, to $24.21. S&P Dow Jones Indices said on Friday that it will remove the retailer from the S&P 500 index of large stocks and put it in the S&P 400 index of mid-cap stocks instead.

Mobileye, an Israeli autonomous-driving company, surged after it agreed to sell itself to Intel for $63.54 per share in cash. Its U.S.-listed shares rose $13.35, or 28.2 percent, to $60.62. Intel slipped 75 cents, or 2.1 percent, to $35.16.

The dollar largely held steady against its rivals. It dipped to 114.77 Japanese yen from 114.78 yen late Friday. The euro fell to $1.0660 from $1.0692, and the British pound rose to $1.2231 from $1.2177.

The price of a barrel of benchmark U.S. crude oil fell 9 cents to close at $48.40 a barrel. Brent crude, which is used to price international oils, slipped 2 cents to close at $51.35 a barrel in London. In other energy trading, wholesale gasoline fell 2 cents to $1.58 a gallon, heating oil was little changed at $1.50 a gallon and natural gas rose 3.5 cents to $3.043 per 1,000 cubic feet.

Gold rose $1.70 to settle at $1,203.10 an ounce, silver rose 5 cents to $16.97 an ounce and copper rose 3 cents to $2.63 a pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -44 points or ▼ -0.21% on Tuesday, March 14, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,837.37 ▼ -44.11 ▼ -0.21% .
Nasdaq____ 5,856.82 ▼ -18.97 ▼ -0.32% .
S&P_500___ 2,365.45 ▼ -8.02 ▼ -0.34% .
30_Yr_Bond____ 3.17 ▼ -0.02 ▼ -0.63% .

NYSE Volume 3,172,268,000
Nasdaq Volume 1,991,715,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,357.85 ▼ -9.23 ▼ -0.13% .
DAX_____ 11,988.79 ▼ -1.24 ▼ -0.01% .
CAC_40__ 4,974.26 ▼ -25.34 ▼ -0.51% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,798.10 ▲ 3.50 ▲ 0.06% .
Shanghai_Comp 3,239.33 ▲ 2.30 ▲ 0.07% .
Taiwan_Weight 9,744.21 ▲ 46.87 ▲ 0.48% .
Nikkei_225___ 19,609.50 ▼ -24.25 ▼ -0.12% .
Hang_Seng.__ 23,827.95 ▼ -1.72 ▼ -0.01% .
Strait_Times.__ 3,143.40 ▼ -3.75 ▼ -0.12% .
NZX_50_Index_ 7,167.05 ▼ -10.04 ▼ -0.14% .

http://finance.yahoo.com/news/waiting-hardest-part-stocks-step-141551678.html

Another drop for oil prices pulls stock indexes lower

STAN CHOE

NEW YORK (AP) — Stock indexes sank Tuesday after yet another drop in the price of oil dragged down shares across the energy industry. Other areas of the market saw modest losses as investors wait to hear from the Federal Reserve, which began a two-day policy meeting on interest rates.

The Standard & Poor's 500 index fell 8.02 points, or 0.3 percent, to 2,365.45. The Dow Jones industrial average fell 44.11, or 0.2 percent, to 20,837.37. The Nasdaq composite fell 18.97, or 0.3 percent, to 5,856.82. Two stocks fell on the New York Stock Exchange for every one that rose.

The price of oil has been slipping on concerns that supplies will outweigh demand. It's dropped from nearly $55 per barrel in late February to $47.72 on Tuesday, down 68 cents, or 1.4 percent. Brent crude, which is used to price international oils, fell 43 cents to $50.92 per barrel in London.

It's the seventh straight decline in the price of oil. Energy stocks in the S&P 500 fell 1.1 percent, the largest loss among the 11 sectors that make up the index. Marathon Oil fell 52 cents, or 3.3 percent, to $15.32.

Lower oil prices help to curb inflation, and bond yields sank in tandem. The yield on the 10-year Treasury note fell to 2.59 percent from 2.63 percent late Monday. The 30-year yield sank to 3.18 percent from 3.21 percent, while the two-year yield dipped to 1.37 percent from 1.38 percent.

Stocks of smaller companies sank more than the rest of the market. The Russell 2000 of small-cap stocks lost 0.6 percent, double the decline of the S&P 500 index of the largest stocks.

When the Fed finishes its meeting on Wednesday, most economists expect it to raise interest rates by a quarter of a percentage point. It would be only the third increase since the Fed slashed rates to a record of nearly zero in 2008 during the financial crisis.

What investors are likely more interested to hear is what Fed Chair Janet Yellen says about the pace of future increases. The job market, stock prices and other economic indicators have picked up momentum in recent months, which raises expectations for more increases.

In the past, expectations for higher rates may have spooked stock investors, because more-expensive borrowing can slow the economy. That's not happening this time.

"We're in an environment now where the market is no longer afraid of Fed hikes because the perception now is the Fed is hiking for the right reasons," said Jon Adams, senior investment strategist at BMO Global Asset Management.

As long as the economy continues to improve and interest-rate hikes are only gradual, analysts say stocks can maintain their lofty heights.

One key risk, Adams said, is that many of the encouraging data points from recent months have come from opinion surveys, such as confidence levels for consumers and purchasing managers. He'd like to see that optimism translate into more action by shoppers and businesses, whether that's by spending or producing more, before getting more confident.

Airline stocks had some of the market's biggest losses after the industry canceled thousands of flights in the face of fierce snowstorms. United Continental fell $3.30, or 4.7 percent, to $66.55, while rival Southwest Airlines lost $1.61, or 3 percent, to $52.88 and American Airlines Group dropped $1.16, or 2.7 percent, to $41.21 .

Valeant Pharmaceuticals fell $1.22, or 10.1 percent, to $10.89 after one of its biggest investors sold its entire stake in the company. Valeant's stock has tumbled nearly 96 percent since its peak in the summer of 2015 because the company is facing more scrutiny for raising prices on its drugs. Activist investor Bill Ackman's Pershing Square said Monday it has sold its investment Valeant.

Health care stocks held relatively steady overall amid increased expectations that the Republican proposal to overhaul the Affordable Care Act is unlikely to pass in its current form. The sector fell 0.3 percent.

The nonpartisan Congressional Budget Office said late Monday that the Republican proposal would result in 24 million more uninsured people over a decade, while trimming the federal deficit by $337 billion.

In the currency market, the British pound fell against the dollar after Parliament gave its prime minister the authority to divorce Britain from the European Union. Scotland's first minister, meanwhile, called for a referendum to break free of the United Kingdom.

The pound fell to $1.2145 from $1.2231 late Monday. The euro fell to $1.0632 from $1.0660, and the dollar dipped to 114.72 Japanese yen from 114.77 yen.

In commodity trading, gold fell 50 cents to settle at $1,202.60 an ounce, silver fell 5 cents to $16.92 an ounce and copper rose 1 cent to $2.64 a pound. Wholesale gasoline was little changed at $1.58 a gallon, heating oil fell 1 cent to $1.49 a gallon and natural gas fell 11 cents to $2.94 per 1,000 cubic feet.

In Europe, Germany's DAX stock index was close to flat, while the U.K.'s FTSE 100 slipped 0.1 percent and the French CAC 40 lost 0.4 percent. In Asia, Japan's Nikkei 225 stock index dipped 0.1 percent, South Korea's Kospi rose 0.8 percent and the Hang Seng in Honk Kong was close to flat.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed HIGHER ▲ 113 points or ▲ 0.54% on Wednesday, March 15, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,950.10 ▲ 112.73 ▲ 0.54% .
Nasdaq____ 5,900.05 ▲ 43.23 ▲ 0.74% .
S&P_500___ 2,385.26 ▲ 19.81 ▲ 0.84% .
30_Yr_Bond____ 3.11 ▼ -0.07 ▼ -2.08% .

NYSE Volume 3,824,772,000
Nasdaq Volume 2,105,728,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,368.64 ▲ 10.79 ▲ 0.15% .
DAX_____ 12,009.87 ▲ 21.08 ▲ 0.18% .
CAC_40__ 4,985.48 ▲ 11.22 ▲ 0.23% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,813.70 ▲ 15.60 ▲ 0.27% .
Shanghai_Comp 3,241.76 ▲ 2.43 ▲ 0.08% .
Taiwan_Weight 9,740.31 ▼ -3.90 ▼ -0.04% .
Nikkei_225___ 19,577.38 ▼ -32.12 ▼ -0.16% .
Hang_Seng.__ 23,792.85 ▼ -35.10 ▼ -0.15% .
Strait_Times.__ 3,137.43 ▼ -5.97 ▼ -0.19% .
NZX_50_Index_ 7,131.30 ▼ -45.79 ▼ -0.64% .

http://finance.yahoo.com/news/ahead-fed-stocks-climb-spending-sales-reports-140601768--finance.html

Stocks climb, led by energy companies and dividend payers

STAN CHOE

NEW YORK (AP) — Stocks clambered higher Wednesday for their biggest gain in two weeks and easily absorbed the Federal Reserve's latest increase in interest rates, a move that was widely expected.

What was perhaps unexpected was the big drop in bond yields and the dollar's value against other currencies following the Fed's announcement. The central bank stressed that it plans to move gradually and stuck to its projection that it will raise rates a total of three times this year. That cooled speculation among some investors that the Fed could move more aggressively.

The Standard & Poor's 500 index jumped 19.81 points, or 0.8 percent, to 2,385.26. It had been up through the day, and the gains accelerated immediately after the Fed made its announcement.

The Dow Jones industrial average rose 112.73 points, or 0.5 percent, to 20,950.10. The Nasdaq composite picked up 43.23 points, or 0.7 percent, to 5,900.05. The Russell 2000 index of small-company stocks jumped 20.45 points, or 1.5 percent, to 1,382.83. Gains were widespread, and seven stocks rose on the New York Stock Exchange for every one that fell.

The Fed raised short-term interest rates by a quarter of a percentage point, its third such move since the end of 2015. The move was widely expected after various Fed officials gave speeches telegraphing the increase and reports showed that the economy continues to strengthen and inflation has picked up.

The data have been so encouraging that some investors began to speculate whether the Fed may raise rates more aggressively. The yield on the two-year Treasury note, which is heavily influenced by changes in Fed policy, jumped on expectations for Fed action, for example. It climbed nearly a quarter of a percentage point in a little more than two weeks to 1.38 percent late Tuesday.

When the Fed said that it's sticking with its forecast for three rate increases this year, the two-year yield gave up nearly half of that increase in just a few minutes. It later pared its loss and sat at 1.29 percent late Wednesday.

The yield on the 10-year Treasury fell to 2.49 percent from 2.60 percent late Tuesday, and the 30-year yield fell to 3.11 percent from 3.18 percent. Both remain higher than they were a few weeks ago, though.

The dollar's value likewise sank as some traders got out of deals built on the expectation of a more aggressive Fed, said Nate Thooft, senior portfolio manager at Manulife Asset Management.

The dollar sank to 113.39 Japanese yen from 114.72 yen late Tuesday. The euro rose to $1.0713 from $1.0632, and the British pound climbed to $1.2301 from $1.2145.

"People got ahead of themselves," Thooft said. "That's a pretty big move off something that seems to be 'This is what we told you we were going to do.'"

The drop in bond yields shone a warm light on stocks in industries known for paying relatively big dividends. Lower bond yields make the income provided by dividends more attractive, and real-estate investment trusts in the S&P 500 jumped 1.9 percent. Utilities rose 1.6 percent.

The day's biggest gains came from energy stocks. Those in the S&P 500 rose by 2.1 percent after the price of oil climbed Wednesday, the first time that's happened in more than a week. A barrel of benchmark U.S. crude rose $1.14 to settle at $48.86. The 2.4 percent jump was the largest since January. Brent crude, which is used to price international oils, added 89 cents to $51.81 a barrel in London.

The weaker dollar also helped to lift prices for metals. Gold settled early in the afternoon at $1,200.70 per ounce, down $1.90. But it climbed following the Fed's announcement and was trading at $1,221 late Wednesday. Silver and copper also rose following the announcement.

Natural gas rose 4 cents to settle at $2.98 per 1,000 cubic feet, heating oil rose 2 cents to settle at $1.51 per gallon and wholesale gasoline was virtually flat at $1.58 per gallon.

The Commerce Department said early Wednesday that retail sales inched up by 0.1 percent in February, and it said sales in January were better than it previously believed. However delays in tax return payments may be holding spending back somewhat.

The Labor Department said consumer prices were 2.7 percent higher in February than a year earlier. After excluding the costs of food and energy, inflation was 2.2 percent. That's above the 2 percent target set by the Federal Reserve.

A housing market index by the National Association of Home Builders also surged to its highest level since 2005.

In overseas trading, the German DAX stock index rose 0.2 percent, the U.K. FTSE 100 index rose 0.1 percent and the CAC 40 in France was 0.2 percent higher. Japan's Nikkei 225 stock index lost 0.2 percent, and South Korea's Kospi was little changed. The Hang Seng in Hong Kong edged 0.1 percent lower.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -16 points or ▼ -0.07% on Thursday, March 16, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,934.55 ▼ -15.55 ▼ -0.07% .
Nasdaq____ 5,900.76 ▲ 0.71 ▲ 0.01% .
S&P_500___ 2,381.38 ▼ -3.88 ▼ -0.16% .
30_Yr_Bond____ 3.14 ▲ 0.03 ▲ 0.93% .

NYSE Volume 3,336,597,500
Nasdaq Volume 1,878,096,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,415.95 ▲ 47.31 ▲ 0.64% .
DAX_____ 12,083.18 ▲ 73.31 ▲ 0.61% .
CAC_40__ 5,013.38 ▲ 27.90 ▲ 0.56% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,827.50 ▲ 13.80 ▲ 0.24% .
Shanghai_Comp 3,268.94 ▲ 27.18 ▲ 0.84% .
Taiwan_Weight 9,837.83 ▲ 97.52 ▲ 1.00% .
Nikkei_225___ 19,590.14 ▲ 12.76 ▲ 0.07% .
Hang_Seng.__ 24,288.28 ▲ 495.43 ▲ 2.08% .
Strait_Times.__ 3,163.52 ▲ 26.09 ▲ 0.83% .
NZX_50_Index_ 7,151.99 ▲ 20.69 ▲ 0.29% .

http://finance.yahoo.com/news/us-stock-indexes-climb-amid-141911117.html

US stock indexes hold steady as Fed-fueled rally fades

STAN CHOE

NEW YORK (AP) — Stocks held steady on Wall Street Thursday, and bond prices gave back some of their big gains from the prior day as a rally fueled by the Federal Reserve's announcement on interest rates Wednesday faded.

The Standard & Poor's 500 index slipped 3.88 points, or 0.2 percent, to 2,381.38. The Dow Jones industrial average fell 15.55 points, or 0.1 percent, to 20,934.55. The Nasdaq composite, meanwhile, rose 0.71 points, or 0.01 percent, to 5,900.76. The Russell 2000 index of smaller stocks also rose slightly, up 3.20 points, or 0.2 percent, to 1,386.03.

Yields ticked higher as bond prices fell. The yield on the 10-year Treasury note rose to 2.53 percent from 2.50 percent late Wednesday. It had plunged 0.11 percentage points the prior day, after the Fed threw cold water on speculation that it may get more aggressive in raising rates.

The Fed is hoping to lift rates gradually off their record lows, where they stayed for seven years following the 2008 financial crisis. With both economic data and inflation picking up recently, some investors began to consider the possibility that the Fed may try to raise rates four times this year. But the Fed on Wednesday stuck with its forecast for three.

That gradual pace is one reason investors remain enthusiastic about stocks in the face of rising rates, which historically have spooked stock holders because they can slow economic growth and corporate profits. With rates starting from such a low base and the pace set to be so slow, it may not be fair to call these Fed moves as "hiking" or "tightening," said Rich Taylor, fixed-income client portfolio manager at American Century.

"We are in the beginning stages of a re-normalization of interest rates," Taylor said. "A 2.5 percent yield on a 10-year note is not a normal yield. It's still a DEFCON 4, almost emergency-level rate."

Taylor expects gains for the 10-year Treasury yield to remain modest, even with the Fed pledging more increases. Once the yield gets to 2.60 percent, he says many buyers will likely pounce given still-modest growth in the economy and inflation, which should help keep a lid on rates.

Thursday's slight rise in yields dulled the appeal of dividend-paying stocks. Utility stocks in the S&P 500 index lost 1.1 percent, the biggest loss among the 11 sectors that make up the index. Health care stocks were also weaker than the rest of the index, following a strong start to the year.

Technology stocks did better, led by Oracle, which reported stronger revenue and earnings for its latest quarter than analysts expected. The tech giant jumped $2.68, or 6.2 percent, to $45.73 for the biggest gain in the S&P 500.

GoPro, which makes wearable cameras, surged after it announced a cost-cutting plan and said it's sticking by its forecast for 2017 profits. Its stock rose $1.16, or 15.8 percent, to $8.51.

Stock markets across the Atlantic were also strong, with the French CAC 40 up 0.6 percent and Germany's DAX also up 0.6 percent. The U.K.'s FTSE 100 rose 0.6 percent and closed at a record high.

Investors had been nervous about Wednesday's Dutch election, where candidates were running on pledges to get the Netherlands out of the European Union and to close borders to migrants from Muslim nations. After the U.K. vote last summer to leave the European Union, investors were worried about whether a wave of nationalism across the continent could eventually break the European union apart.

Dutch Prime Minister Mark Rutte's party won a parliamentary election victory Wednesday over Geert Wilders, who campaigned against the European Union.

In Asia, Tokyo's Nikkei 225 index rose 0.1 percent, Hong Kong's Hang Seng added 2.1 percent, and Seoul's Kospi rose 0.8 percent.

Benchmark U.S. crude resumed its slide and slipped 11 cents to settle at $48.75 per barrel. It was the eighth drop for oil in the last nine days. Brent crude, which is used to price international oils, fell 7 cents to $51.74 a barrel.

Natural gas fell 8 cents to settle at $2.90 per 1,000 cubic feet, heating oil dropped close to a penny to $1.50 per gallon and wholesale gasoline rose 1 cent to $1.59 per gallon.

Gold rose $26.40, or 2.2 percent, to settle at $1,227.10 per ounce, silver rose 41 cents to $17.33 per ounce and copper rose 2 cents to $2.68 per pound.

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -20 points or ▼ -0.10% on Friday, March 17, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,914.62 ▼ -19.93 ▼ -0.10% .
Nasdaq____ 5,901.00 ▲ 0.24 ▲ 0.00% .
S&P_500___ 2,378.25 ▼ -3.13 ▼ -0.13% .
30_Yr_Bond____ 3.11 ▼ -0.02 ▼ -0.70% .

NYSE Volume 5,071,872,500
Nasdaq Volume 3,270,564,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,424.96 ▲ 9.01 ▲ 0.12% .
DAX_____ 12,095.24 ▲ 12.06 ▲ 0.10% .
CAC_40__ 5,029.24 ▲ 15.86 ▲ 0.32% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,840.80 ▲ 13.30 ▲ 0.23% .
Shanghai_Comp 3,237.45 ▼ -31.49 ▼ -0.96% .
Taiwan_Weight 9,908.69 ▲ 70.86 ▲ 0.72% .
Nikkei_225___ 19,521.59 ▼ -68.55 ▼ -0.35% .
Hang_Seng.__ 24,309.93 ▲ 21.65 ▲ 0.09% .
Strait_Times.__ 3,169.38 ▲ 5.86 ▲ 0.19% .
NZX_50_Index_ 7,158.14 ▲ 6.15 ▲ 0.09% .

http://finance.yahoo.com/news/us-stocks-mixed-still-pace-140958307.html

S&P 500 limps to the finish line in another winning week

Stan Choe, AP Business Writer

NEW YORK (AP) -- U.S. stocks limped to the finish line in another winning week, with indexes turning in a mixed performance on Friday.

The Standard & Poor's 500 index slipped 3.13 points, or 0.1 percent, to 2,378.25 on Friday. Gains a couple days earlier fueled by the Federal Reserve meant the index rose 0.2 percent for the week. It's the seventh weekly gain for the S&P 500 in the last eight, and the index is within 1 percent of its record high.

The Dow Jones industrial average fell 19.93 points, or 0.1 percent, to 20,914.62. The Nasdaq composite rose 0.24 points, or 0.004 percent, to 5,901.00. The Russell 2000 index of small-cap stocks rose 5.49, or 0.4 percent, to 1,391.52. Three stocks rose for every two that fell on the New York Stock Exchange.

The midweek rally came after the Federal Reserve gave a more measured forecast for interest-rate increases than some investors expected. While raising rates by a quarter of a percentage point, the central bank said that it's still planning a total of three increases this year. That came as a surprise for some investors, who thought four hikes was possible given the pickup in the economy and inflation. Not only did stocks rise following the announcement, but bond yields fell sharply.

"The big focal point for the week was the Fed," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management. "Now that we have that behind us, the rest is window dressing."

Investors are turning their attention to the market's next potential flash points, Jacobsen said, including whether Washington will be able to deliver on promises to cut taxes, boost infrastructure spending and otherwise boost the economy. They're also waiting for upcoming elections in Europe, where investors worry that wins by nationalist candidates could lead to weaker resolve for the European Union to stick together.

Treasury yields dipped, resuming their slide that began with the Fed's announcement. The 10-year Treasury yield fell to 2.50 percent from 2.54 percent late Thursday. The two-year yield dipped to 1.31 percent from 1.34 percent, and the 30-year yield sank to 3.11 percent from 3.15 percent.

Financial stocks fell in sync with bond yields. The two have tended to move in the same direction recently, because higher rates would allow banks to charge more for loans and earn bigger profits. Financial stocks fell 1.1 percent, the largest loss among the 11 sectors that make up the S&P 500.

Health care stocks were also weak. Amgen had the biggest loss in the S&P 500 after results from a study of its cholesterol drug Repatha disappointed investors. It sank $11.50, or 6.5 percent, to $168.61.

On the other end were dividend-paying stocks, which benefited from the fall in yields. When bonds are paying less in interest, it makes the income provided by dividend-paying stocks more attractive. Utility stocks in the S&P 500, which pay some of the biggest dividends in the index, rose 0.6 percent.

Adobe surged to one of the biggest gains in the index after reporting stronger revenue and earnings for its latest quarter than analysts expected. It jumped $4.66, or 3.8 percent, to $127.01

Jeweler Tiffany sparkled after it also reported better profit than analysts expected for its latest quarter. Strong demand in China and Japan helped it to offset flagging sales at home. Its stock rose $2.44, or 2.7 percent, to $92.42.

In markets abroad, France's CAC 40 stock index rose 0.3 percent, and Germany's DAX and the FTSE 100 in London both added 0.1 percent. Japan's Nikkei 225 fell 0.3 percent, South Korea's Kospi rose 0.7 percent and the Hang Seng in Hong Kong added 0.1 percent.

Finance leaders from the G-20 industrial and emerging economies are meeting Friday and Saturday in the southern German resort town of Baden-Baden. The first G-20 finance meeting since tough-talking Donald Trump was elected president is likely to focus on concerns over protectionism and currencies.

The euro edged down to $1.0743 from $1.0749 late Thursday, and the British pound rose to $1.2396 from $1.2358. The dollar slipped to 112.70 Japanese yen from 113.26 yen.

Benchmark U.S. crude rose 3 cents to settle at $48.78 per barrel. Brent crude, which is used to price international oils, rose 2 cents to $51.76 per barrel.

Natural gas rose 5 cents to $2.95 per 1,000 cubic feet. Wholesale gasoline inched up less than a cent to $1.60 per gallon, and heating oil rose a fraction of a penny to $1.51 per gallon.

Gold rose $3.10 to settle at $1,230.20 per ounce. Silver added 8 cents to $17.41 per ounce, and copper rose 1 cent to $2.69 per pound.

2935

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW closed LOWER ▼ -8.8 points or ▼ -0.04% on Monday, March 20, 2017
Symbol …........Last …......Change....... ..
Dow_Jones 20,905.86 ▼ -8.76 ▼ -0.04% .
Nasdaq____ 5,901.53 ▲ 0.53 ▲ 0.01% .
S&P_500___ 2,373.47 ▼ -4.78 ▼ -0.20% .
30_Yr_Bond____ 3.09 ▼ -0.02 ▼ -0.74% .

NYSE Volume 3,050,305,000
Nasdaq Volume 1,820,255,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 7,429.81 ▲ 4.85 ▲ 0.07% .
DAX_____ 12,052.90 ▼ -42.34 ▼ -0.35% .
CAC_40__ 5,012.16 ▼ -17.08 ▼ -0.34% .

Asia Pacific
Symbol...... ….......Last .....Change…......
ASX_All_Ord___ 5,820.50 ▼ -20.30 ▼ -0.35% .
Shanghai_Comp 3,250.81 ▲ 13.36 ▲ 0.41% .
Taiwan_Weight 9,912.97 ▲ 4.28 ▲ 0.04% .
Nikkei_225___ 19,521.59 ▼ -68.55 ▼ -0.35% .HOLIDAY
Hang_Seng.__ 24,501.99 ▲ 192.06 ▲ 0.79% .
Strait_Times.__ 3,165.70 ▼ -3.68 ▼ -0.12% .
NZX_50_Index_ 7,057.05 ▼ -101.09 ▼ -1.41% .

http://finance.yahoo.com/news/us-stocks-open-mixed-banks-143215436.html

US stock indexes dip for a third day as banks stumble

MARLEY JAY

NEW YORK (AP) — After an early-afternoon slump, U.S. stocks finished mostly lower Monday in a quiet day of trading. Banks fell along with bond yields as stocks declined for a third straight day.

Lower bond yields hurt banks because they force interest rates down on mortgages and other kinds of loans. Utility companies gave up some of their recent gains.

Most sectors didn't move much on the lightest trading day of the year. European markets mostly fell after the British government said it will formally begin the process of leaving the European Union next week.

Sameer Samana, a strategist for the Wells Fargo Investment Institute, said politics may keep investors occupied for the next few weeks as they wait for elections in France and a European Central Bank meeting, both next month, while legislators in the U.S. debate the proposed Republican-backed health care law.

"There's enough events that will keep markets busy," Samana said. He added that investors want to see tax reform proposals because they could boost corporate profits, but those aren't likely to come until the health care bill is dealt with.

The Standard & Poor's 500 index lost 4.78 points, or 0.2 percent, to 2,373.47. The Dow Jones industrial average slipped 8.76 points to 20,905.86. The Nasdaq composite rose 0.53 points to 5,901.53. The Russell 2000 of small-company stocks fell 7.43 points, or 0.5 percent, to 1,384.10.

The stock market has mostly been quiet this month. Its two big moves were both linked to the Federal Reserve: on March 1 stocks jumped after the central bank signaled it would raise rates, and they climbed last Wednesday after the Fed made it clear it will move slowly for the rest of the year.

Britain's government said it will trigger the process of leaving the EU on March 29. That will start a long negotiation between Britain and the EU, with uncertain effects for banks and other companies that do business across borders. Britain is expected to officially leave the union in 2019.

Bond prices rose, send yields to their lowest in three weeks. The yield on the 10-year Treasury note fell to 2.46 percent from 2.50 percent.

Wells Fargo fell $1.04, or 1.8 percent, to $57.63 and Synchrony Financial gave up 92 cents, or 2.6 percent, to $34.20.

The British pound slipped to $1.2350 from $1.2396 late Friday, and it's down about 20 percent since Britain voted to leave the EU in late June. The dollar declined to 112.58 yen from 112.70 yen. The euro fell to $1.0733 from $1.0743.

Benchmark U.S. crude declined 56 cents, or 1.1 percent, to $48.22 a barrel in New York. Brent crude, used to price international oils, lost 14 cents to $51.62 a barrel in London.

Dominion Diamond climbed $2.28, or 23 percent, to $12.20 after Washington Cos. went public with an offer to buy the diamond mining company for $13.50 per share, or about $1.1 billion. Dominion Diamond said it is willing to engage in talks but said Washington doesn't have experience in the diamond industry and questioned the timing of the offer. Washington Cos. said it first made its offer in February and that Dominion Diamond isn't willing to open its books.

Nektar Therapeutics soared after the company said an experimental pain drug met its goals in a late-stage study. Its NKTR-181 is an opioid drug designed to relieve pain without causing euphoria, which the company said can contribute to drug abuse and addiction. It studied NKTR-181 as a treatment for lower back pain. Nektar stock rose $6.71, or 43.3 percent, to $22.21.

Array BioPharma fell 29 cents, or 2.7 percent, to $10.27 after it withdrew a marketing application for its melanoma drug binimetinib. After Array talked to regulators, the company said it was clear they wouldn't approve the drug based on its most recent trial. It will continue studies of binimetinib.

In other energy trading, wholesale gasoline rose 1 cent to $1.61 a gallon. Heating oil edged up 1 cent to $1.51 a gallon. Natural gas jumped 9 cents, or 3.2 percent, to $3.04 per 1,000 cubic feet.

Gold rose $3.80 to $1,234 an ounce. Silver picked up 3 cents to $17.44 an ounce. Copper lost 2 cents to $2.67 a pound.

Finance ministers and central bankers from the Group of 20 major economies dropped a pledge to eschew protectionism in a statement Saturday. The move came after pressure from the U.S. During his campaign President Donald Trump promised to rewrite trade deals, and he ditched the Trans-Pacific Partnership, a proposed pact between 12 countries that border the Pacific Ocean which represented around 40 percent of global economic output.

Britain's FTSE 100 edged up 0.1 percent. France's CAC-40 fell 0.3 percent and the DAX in Germany declined 0.4 percent. Hong Kong's Hang Seng index gained 0.8 percent and the Kospi in South Korea shed 0.4 percent. Japanese markets were closed for a holiday.