NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com . . . . . . .
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The NYSE DOW closed LOWER ▼ -118.79 points or ▼ -0.58% on Wednesday, April 19, 2017
Symbol …........Last …......Change....... . . . . .
Dow_Jones 20,404.49 ▼ -118.79 ▼ -0.58% .
Nasdaq____ 5,863.03 ▲ 13.56 ▲ 0.23% .
S&P_500___ 2,338.17 ▼ -4.02 ▼ -0.17% .
30_Yr_Bond____ 2.86 ▲ 0.02 ▲ 0.67% .
. . . . . . . . .
NYSE Volume 3,519,993,500 . . . . . . .
Nasdaq Volume 1,766,834,380 . . . . . . .
. . . . . . . . .
Europe . . . . . .
Symbol... .....Last ….....Change....... .
FTSE_100 7,114.36 ▼ -33.14 ▼ -0.46% .
DAX_____ 12,016.45 ▲ 16.01 ▲ 0.13% .
CAC_40__ 5,003.73 ▲ 13.48 ▲ 0.27% .
. . . . . . . . .
Asia Pacific . . . . . .
Symbol...... ….......Last .....Change…...... . . . .
ASX_All_Ord___ 5,839.90 ▼ -28.80 ▼ -0.49% .
Shanghai_Comp 3,170.69 ▼ -26.03 ▼ -0.81% .
Taiwan_Weight 9,639.94 ▼ -106.62 ▼ -1.09% .
Nikkei_225___ 18,432.20 ▲ 13.61 ▲ 0.07% .
Hang_Seng.__ 23,825.88 ▼ -98.66 ▼ -0.41% .
Strait_Times.__ 3,126.28 ▼ -11.26 ▼ -0.36% .
NZX_50_Index_ 7,218.51 ▼ -15.10 ▼ -0.21% .

http://finance.yahoo.com/news/us-stocks-start-bounce-back-led-gains-banks-142011580.html

Wage worries sink stocks late; energy sector and IBM skid

MARLEY JAY

NEW YORK (AP) — U.S. stocks gave up a promising start and finished mostly lower Wednesday as investors continued to worry about lagging wages and energy companies dropped with the price of oil.

Stocks climbed early on as a solid quarter from Morgan Stanley revived optimism about banks, and strong results from auto and industrial parts distributor Genuine Parts sent car makers and suppliers higher.

The gains began to fade around noon as oil prices and energy companies sagged. The losses accelerated after the mid-afternoon release of the Federal Reserve's "Beige Book" survey of economic conditions.

The Fed said economic growth continued from mid-March into early April and pay improved for some workers. But investors have been wondering when rising statistics like consumer confidence will start to turn into better pay and greater spending.

"Show me where those numbers are translating into something more than just feelings," said Brent Schutte, chief investment strategist for Northwestern Mutual Wealth Management. "People are looking for evidence that these confidence numbers are translating into actual actions and the Beige Book showed that over the last couple of months it's been more of the same."

The Standard & Poor's 500 index finished down 4.02 points, or 0.2 percent, at 2,338.17. It rose as much as 10 points, or 0.4 percent, earlier. The Dow lost 118.79 points, or 0.6 percent, to 20,404.49. Half of the blue-chip index's losses came from IBM, which reported weaker-than-expected sales in the first quarter.

The Nasdaq composite rose 13.56 points, or 0.2 percent, to 5,863.03 as health care companies climbed. And there were signs of optimism about the economy as well. The Russell 2000 index, which is made up of smaller companies that tend to be more U.S.-focused, added 5.24 points, or 0.4 percent, to 1,367.13 after a late gain a day ago.

Oil prices slumped after the Energy Information Administration said U.S. crude inventories didn't shrink as much as investors hoped they would last week, and the EIA says the stockpiles are larger than normal for this time of year. Benchmark U.S. crude lost $1.97, or 3.8 percent, to $50.44 a barrel in New York. Brent crude, used to price international oils, fell $1.96, or 3.6 percent, to $52.93 per barrel in London.

All 34 energy companies on the S&P 500 finished lower. Chevron $1.45, or 1.4 percent, to $104.23 and Marathon Oil sank 68 cents, or 4.3 percent, to $15.06.

Schutte, of Northwestern Mutual Wealth Management, said faster wage growth will show up eventually even if monthly and quarterly reports are uneven. As wages rise and people spend more money, he thinks the economy will keep growing.

"The consumer is in a very good place from a debt-to-asset standpoint," he said, after reducing debt in recent years. "When they get wage increases, they're more likely to spend those in the future than to save them."

Schutte said that will ultimately help the stock market more than any of President Donald Trump's proposed pro-growth policies would.

Technology and consulting company IBM slumped after it reported $18.16 billion in revenue in the first quarter, and according to FactSet, that was more than $200 million below analysts' estimates. IBM stock fell $8.36, or 4.9 percent, to $161.69. It was the second day in a row that a weak report from a single company pulled the Dow sharply lower, as Goldman Sachs did the same on Tuesday.

Bond prices fell, reversing most of their gains from a day earlier. The yield on the 10-year Treasury note rose to 2.21 percent from 2.17 percent. That hurt high-dividend payers including utilities and household goods companies. FirstEnergy shed 62 cents, or 2 percent, to $30.85 and beauty products retailer Coty surrendered 42 cents, or 2.3 percent, to $17.99.

Genuine Parts raised its profit forecast for the year, although it acknowledged its U.S. business has been weak. Its stock jumped $1.77 percent, to 2 percent, to $91.91. Genuine Parts, along with car makers, used car sellers, and retailers of auto parts and tires plunged earlier this month after automakers reported disappointing March sales. Some investors felt that was a warning sign about spending by consumers.

Robotic surgery system maker Intuitive Surgical climbed after its profit and revenue came out ahead of analysts' projections. The company said shipments of its da Vinci device and surgeries performed with it both jumped. The stock rose $48.60, or 6.4 percent, to $807.95 and it helped health care companies climb higher.

In other energy trading, wholesale gasoline fell 5 cents, or 3 percent, to $1.66 a gallon. Heating oil lost 4 cents, or 2.5 percent, to $1.58 a gallon. Natural gas rose 4 cents to $3.19 per 1,000 cubic feet.

The price of gold, which has climbed steadily in recent weeks, fell $10.70 to $1,283.40 an ounce. Silver lost 11 cents to $18.16 an ounce. Copper added 1 cent to $2.53 a pound.

The dollar rose to 108.70 yen from 108.42 yen. The euro edged down to $1.0721 from $1.0730.

British stocks continued to fall. The FTSE 100 slid 0.5 percent after a 2.5-percent plunge on Tuesday. Other major European indexes recovered modestly. In France the CAC-40 gained 0.3 percent and Germany's DAX edged up 0.1 percent. In Japan the Nikkei 225 edged up 0.1 percent and the South Korean Kospi shed 0.5 percent. Hong Kong's Hang Seng index fell 0.4 percent.

 

[bigdog]

Source: http://finance.yahoo.com . . . . . . .
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The NYSE DOW closed HIGHER ▲ 174.22 points or ▲ 0.85% on Thursday, April 20, 2017
Symbol …........Last …......Change....... . . . . .
Dow_Jones 20,578.71 ▲ 174.22 ▲ 0.85% .
Nasdaq____ 5,916.78 ▲ 53.74 ▲ 0.92% .
S&P_500___ 2,355.84 ▲ 17.67 ▲ 0.76% .
30_Yr_Bond____ 2.89 ▲ 0.03 ▲ 1.05% .
. . . . . . . . .
NYSE Volume 3,648,416,750 . . . . . . .
Nasdaq Volume 1,756,432,880 . . . . . . .
. . . . . . . . .
Europe . . . . . .
Symbol... .....Last ….....Change....... .
FTSE_100 7,118.54 ▲ 4.18 ▲ 0.06% .
DAX_____ 12,027.32 ▲ 10.87 ▲ 0.09% .
CAC_40__ 5,077.91 ▲ 74.18 ▲ 1.48% .
. . . . . . . . .
Asia Pacific . . . . . .
Symbol...... ….......Last .....Change…...... . . . .
ASX_All_Ord___ 5,854.40 ▲ 14.50 ▲ 0.25% .
Shanghai_Comp 3,172.10 ▲ 1.41 ▲ 0.04% .
Taiwan_Weight 9,632.69 ▼ -7.25 ▼ -0.08% .
Nikkei_225___ 18,430.49 ▼ -1.71 ▼ -0.01% .
Hang_Seng.__ 24,056.98 ▲ 231.10 ▲ 0.97% .
Strait_Times.__ 3,137.88 ▲ 11.60 ▲ 0.37% .

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

US stocks rally again as banks and industrial companies rise

MARLEY JAY

NEW YORK (AP) — U.S. stocks climbed Thursday as industrial companies, banks, technology and materials firms and energy companies all rallied. A strong day of corporate results left investors feeling better about the economy.

For more than a week investors have been poring through company earnings for signs the economy is growing at a faster pace, and on Thursday they felt they found it. Railroad operator CSX gave transportation companies like railroads and airlines a big boost while Sherwin-Williams raised its annual projections and helped basic materials makers go higher.

It's still early in this round of earnings reports and a few high-profile companies have disappointed Wall Street this week, so stocks have wobbled recently. But for the most part experts and investors are encouraged by what they're hearing. They say companies feel good about the economy and expect stronger growth and bigger profits.

"The major takeaway so far to earnings season is the CEOs are still saying we're poised for growth," said J.J. Kinahan, chief market strategist at TD Ameritrade. "Last quarter was sort of the first time we heard this theme."

The Standard & Poor's 500 index advanced 17.67 points, or 0.8 percent, to 2,355.84. The Dow Jones industrial average rose 174.22 points, or 0.9 percent, to 20,578.81.

The Nasdaq composite gained 53.74 points, or 0.9 percent, to an all-time high of 5,916.78. The Russell 2000 index of smaller-company stocks added 17.02 points, or 1.2 percent, to 1,384.15.

American Express had a solid first quarter as its credit card members spent more and kept bigger balances on their cards. The stock gained $4.47, or 5.9 percent, to $80.02. SLM, the parent of the student lender Sallie Mae, reported much stronger revenue than expected and its stock climbed $1.17, or 10.1 percent, to $12.70. Citizens Financial rose $1.05, or 3.1 percent, to $35.27 after its report.

"The banks are the shining star" so far, Kinahan said, although he speculated that Goldman Sachs had a down quarter because it's lost several top executives to the Trump administration.

Railroad company CSX announced a bigger profit and more revenue than Wall Street expected in the first quarter. CSX also said restructuring and spending cuts will increase its profit by about 25 percent this year. The company is cutting jobs and reorganizing after it hired Hunter Harrison, former head of Canadian Pacific, as its new CEO last month. The company also said it will buy back more stock and raise its dividend. CSX stock jumped $2.65, or 5.6 percent, to $49.58.

Railroads and transportation companies like trucking companies and airlines rose. Industrial companies were among the top performers Thursday.

Sherwin-Williams raised its profit guidance for the year as paint sales jumped and prices increased. The stock added $12.48, or 4 percent, to $324.02. That helped basic materials companies. So did steel maker Nucor, which rose $2.73, or 4.7 percent, to $60.35 after its first-quarter results were stronger than expected.

Verizon dipped 53 cents, or 1.1 percent, to $48.41 as it lost wireless cellphone subscribers and its profit dropped 20 percent. That helped push other telecom companies lower.

Other stocks that pay big dividends also fell. Utilities, companies that make and sell household goods, and real estate investment trusts also declined as bond yields rose. That made the stocks less appealing to investors seeking income.

Bond prices fell further. The yield on the 10-year Treasury note rose to 2.23 percent from 2.22 percent.

Equipment rental company United Rentals flopped after its sales fell far short of expectations. The company said rental rates are still somewhat weak, and its stock lost $6.21, or 5.2 percent, to $113.24.

Energy prices wobbled and finished lower. Benchmark U.S. crude slipped 17 cents to $50.27 a barrel in New York while Brent crude, the international standard, rose 6 cents to $52.99 a barrel. However energy companies climbed higher. They stumbled Wednesday as the price of U.S. crude sank 3.8 percent.

State and federal authorities sued Ocwen Financial and said the mortgage lender botched the handling of millions of accounts. The Consumer Financial Protection Bureau said Ocwen generated errors in borrowers' accounts, failed to credit payments, illegally foreclosed on homeowners, and charged borrowers for products without their consent.

Ocwen is one of the nation's largest non-bank mortgage lenders, focusing mostly on subprime and delinquent mortgages. Its stock plunged $2.91, or 53.9 percent, to $2.49 in heavy trading.

In other energy trading, wholesale gasoline rose 1 cent to $1.67 a gallon. Heating oil was flat at $1.58 a gallon. Natural gas fell 3 cents to $3.16 per 1,000 cubic feet.

Gold rose 40 cents to $1,283.80 an ounce. Silver lost 14 cents to $18.02 an ounce. Copper rose 1 cent to $2.54 a pound.

The dollar rose to 109.31 yen from 108.70 yen. The euro inched up to $1.0722 from $1.0721.

Paris' CAC 40 jumped 1.5 percent as traders bet on a growing likelihood of a victory for centrist Emmanuel Macron in the upcoming presidential election. Polls have long showed a tight race between four candidates ahead of the first round of voting Sunday.

The DAX in Germany and the FTSE 100 of Britain both added 0.1 percent. The benchmark Nikkei 225 in Japan finished little changed and the Kospi in South Korea rose 0.5 percent. Hong Kong's Hang Seng index climbed 0.9 percent.

 

[bigdog]

Source: http://finance.yahoo.com . . . . . . .
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The NYSE DOW closed , April 21, 2017
Symbol …........Last …......Change....... . . . . .
Dow_Jones 20547.76 -30.95 ▼ -.015%
Nasdaq____ 5,910.52 ▼ -6.26 ▼ -0.11% .
S&P_500___ 2,348.69 ▼ -7.15 ▼ -0.30% .
30_Yr_Bond____ 2.90 ▲ 0.00 ▲ 0.14% .
. . . . . . . . .
NYSE Volume 3,502,123,000 . . . . . . .
Nasdaq Volume 1,728,191,000 . . . . . . .
. . . . . . . . .
Europe . . . . . .
Symbol... .....Last ….....Change....... .
FTSE_100 7,114.55 ▼ -3.99 ▼ -0.06% .
DAX_____ 12,048.57 ▲ 21.25 ▲ 0.18% .
CAC_40__ 5,059.20 ▼ -18.71 ▼ -0.37% .
. . . . . . . . .
Asia Pacific . . . . . .
Symbol...... ….......Last .....Change…...... . . . .
ASX_All_Ord___ 5,885.60 ▲ 31.20 ▲ 0.53% .
Shanghai_Comp 3,173.15 ▲ 1.05 ▲ 0.03% .
Taiwan_Weight 9,717.41 ▲ 84.72 ▲ 0.88% .
Nikkei_225___ 18,620.75 ▲ 190.26 ▲ 1.03% .
Hang_Seng.__ 24,042.02 ▼ -14.96 ▼ -0.06% .
Strait_Times.__ 3,139.83 ▲ 1.95 ▲ 0.06% .
NZX_50_Index_ 7,197.22 ▲ 9.17 ▲ 0.13% .

http://finance.yahoo.com/news/us-stocks-meander-energy-companies-144112531.html

Losses for finance, health care companies send stocks lower

MARLEY JAY

NEW YORK (AP) — U.S. stocks slumped Friday as financial and health care companies moved lower. Industrial companies rose as stocks continued the up-and-down pattern they've been stuck in for the last month.

Stocks slumped in morning trading as banks fell in tandem with bond yields and interest rates and energy companies sank with oil prices.

Strong results from Honeywell and aviation electronics maker Rockwell Collins helped industrial firms. Toy maker Mattel plunged after it reported is second disappointing quarter in a row. Stocks climbed in the final minutes of trading and left the Standard & Poor's 500 index 1 percent higher for the week.

President Donald Trump gave the market a fleeting boost in the afternoon when he said his administration will release a tax reform proposal next week that includes a large tax cut. He didn't provide details.

"I don't think anything's actually going to happen or be implemented any time soon," said Scott Wren, senior global equity strategist for the Wells Fargo Investment Institute. He said he thinks a corporate tax cut is more likely to pass Congress and become law than a tax cut for individuals, and added that he wants the administration to focus on moves that can keep the economy growing.

The Standard & Poor's 500 index lost 7.15 points, or 0.3 percent, to 2,348.69. The Dow Jones industrial average dipped 30.95 points, or 0.2 percent, to 20,547.76. The Nasdaq composite fell 6.26 points, or 0.1 percent, to 5,910.52. The Russell 2000 index of smaller-company stocks fell 4.30 points, or 0.3 percent, to 1,379.85.

Financial companies fell. Professional services firm Marsh & McLennan skidded $1.41, or 1.9 percent, to $71.88 and wealth management company Morgan Stanley dipped 70 cents, or 1.6 percent, to $41.80. Bank of America fell 36 cents, or 1.6 percent, to $22.7.

Bond prices rose early on but wound up little changed. The yield on the 10-year Treasury note remained at 2.24 percent.

Health care companies moved lower. Biotech drugmaker Alexion Pharmaceuticals lost $1.90, or 1.6 percent, to $116.82 and Merck declined 66 cents, or 1.1 percent, to $61.89. Pharmacy benefits manager Express Scripts dipped 59 cents to $66.46.

Stocks did well this week, but they've wandered up and down over the last few weeks. That may persist. Next Friday the government will release its report on first-quarter GDP growth, something investors pay a lot of attention to. On the same day, the federal government is scheduled to reach its borrowing limit, which could trigger a government shutdown unless Congress agrees to extend it.

"The stock market's been willing to wait to see what, if anything, comes out of Washington," said Wells Fargo's Wren. He adds that stock prices aren't too high even though they've been breaking records lately.

Next week the market may also react to the first round of voting in the French presidential election. Polls between the top four candidates are fairly close, and a good showing by far-right candidate Marine Le Pen or leftist Jean-Luc Melenchon, as opposed to their more centrist rivals, could unsettle investors. The top two candidates will advance to a final round of voting in early May.

Mattel, the largest toy company in the U.S., said its sales dropped 15 percent in the fiscal first quarter as it continued to deal with effects of poor sales over the holiday season. The company's revenue totaled $735.6 million, which was $67 million less than expected, according to FactSet. The stock lost $3.42, or 13.6 percent, to $21.79.

Mattel also took a steep loss after it reported its fourth-quarter results. Its stock is down 21 percent this year.

Benchmark U.S. crude shed $1.09, or 2.1 percent, to $49.62 a barrel in New York. Brent crude, used to price international oils, fell $1.03, or 1.9 percent, to $51.96 a barrel in London.

Schlumberger, the world's biggest oilfield services company, fell after it reported less revenue than analysts had forecast. The company said revenue in China, Russia and the North Sea fell more than it had expected. The stock gave up $1.67, or 2.2 percent, to $74.84 and competitors Halliburton and Baker Hughes both fell, too.

Honeywell's profit and sales were better than expected, and the industrial conglomerate raised its profit projection for the year. The stock jumped $3.31, or 2.7 percent, to $127.08. Aviation electronics company Rockwell Collins raised its profit and sales forecasts after its $8.6 billion purchase of former competitor B/E Aerospace. Its stock rose $5.11, or 5.1 percent, to $104.70.

In other energy trading, wholesale gasoline lost 3 cents to $1.64 a gallon and heating oil fell 3 cents to $1.55 a gallon. Natural gas gave up 6 cents to $3.10 per 1,000 cubic feet.

Gold rose $5.30 to $1,289.10 an ounce. Silver lost 16 cents to $17.86 an ounce. Copper remained at $2.54 a pound.

The dollar dipped to 109.21 yen from 109.31 yen. The euro fell to $1.0695 from $1.0722.

France's CAC-40 retreated 0.4 percent after a big gain Thursday. Germany's DAX gained 0.2 percent and the British FTSE 100 lost 0.1 percent. The Nikkei 225 in Tokyo gained just over 1 percent and the Kospi in South Korea added 0.7 percent. Hong Kong's Hang Seng shed 0.1 percent.

 

[bigdog]

MS EXCEL HAS SCREWED UP MY 97 EXCEL .XLS FILES BECAUSE OF COMPATIBILTY.

HOW DO I TURN COMPATIBILITY OFF FOR ALL EXCEL FILES?

I NEED THE SEPARATE "SHEETS" IN EXCELTO PASTE AND COPY


Dow Jones Industrial Average 20,763.89 +216.13 +1.05%
NASDAQ Composite 5,983.82 +73.3 +1.24%
S&P 500 2,374.15 +25.46 +1.08%

Treasury Yield 30 Years 2.93 + 0.03 +1.11%

Volume in 000's 3,682,407.50
Volume in 000's 1,846,260.25

FTSE 100 7,264.68 +150.13 +2.11%
DAX 12,454.98 +406.41 +3.37%
CAC 40 5,268.85 + 209.65 +4.14%
ALL ORDINARIES 5,900.70 +15.1 + 0.26%
SSE Composite Index 3,129.53 -43.62 -1.37%
TSEC weighted index 9,717.95 + 0.54 +0.01%
Nikkei 225 18,875.88 +255.13 +1.37%
HANG SENG INDEX 24,139.48 +97.46 +0.41%
STI Index 3,144.03 +4.2 +0.13%
S&P/NZX 50 INDEX GROSS 7,222.94 +25.72 + 0.36%

http://finance.yahoo.com/news/us-stocks-global-markets-higher-141553269.html

Magnifique: Investors applaud French vote with stock rally

STAN CHOE

NEW YORK (AP) — Vive le rally.

U.S. stocks joined a worldwide surge higher Monday after the first round of France's presidential election raised expectations that the European Union will hold together. A candidate seen as pro-business won the most votes Sunday, and many investors expect him to win a runoff against the remaining anti-EU candidate, which is set for May 7.

Prices for gold, Treasurys and other investments that signal fear in the market all sank, while a popular gauge for measuring investor fear eased by the biggest margin since the summer of 2011.

"It's good news, and now investors have a reason to focus on the fundamentals in Europe, which are strong," said Luca Paolini, chief strategist at Pictet Asset Management, a U.K.-based firm that manages $165 billion in client assets.

The Standard & Poor's 500 index jumped 25.46 points, or 1.1 percent, to 2,374.15. The Dow Jones industrial average rose 216.13, or 1.1 percent, to 20,763.89, and the Nasdaq composite gained 73.30, or 1.2 percent, to 5,983.82.

Coming into Sunday's election in France, several candidates railed against the European Union, one of the world's dominant trading partners. A victory for one of those candidates would have followed the path set by last year's "Brexit" vote by Britain to exit the European Union and the U.S. election of President Donald Trump as a kick in the face to the globalist, free-trade worldview.

Emmanuel Macron, a candidate investors see as pro-business, ended up winning the most votes. He will face Marine Le Pen in a runoff election in two weeks. Le Pen is one of the candidates who campaigned against the European Union, but many investors expect Macron ultimately to be victorious.

"It's not only France" where the forces of populism seem to be waning, said Paolini. He pointed to the Dutch elections last month, where a candidate who ran on the pledge to pull the Netherlands from the European Union, lost.

"This surge is fading," Paolini said. "Maybe it's too early too early to celebrate, but that's what the market is pricing in."

Risks remain: Not only is there the runoff election for France in two weeks, but there is also a parliamentary election in June. And other elections may loom even larger for the future of the European Union, such as next year's Italian vote, Paolini said.

On Monday, though, relief reigned. France's CAC 40 index jumped 4.1 percent and at one point touched its highest level since 2008. Germany's DAX gained 3.4 percent, and the FTSE 100 in London rose 2.1 percent.

Asian markets also rose. Japan's Nikkei 225 index climbed 1.4 percent, and Hong Kong's Hang Seng and South Korea's Kospi indexes both added 0.4 percent.

In the U.S., the VIX index that many investors see as a measure of the market's fear level plunged 25 percent. That's its largest drop since the summer of 2011 when worries were intense that Europe's debt crisis could lead the union to unravel.

Demand for other investments that investors flock to when they're fearful also fell. The price of gold fell $11.60 to settle at $1,277.50 per ounce.

Prices for Treasury bonds dropped, which sent yields higher. The yield on the 10-year Treasury climbed to 2.27 percent from 2.25 percent late Friday.

Any rise in bond yields recently has fed into immediate gains for bank stocks, because higher rates mean banks can charge more for loans, and Monday fit the pattern again.

Financial stocks in the S&P 500 jumped 2.2 percent, by far the biggest gain among the 11 sectors that make up the index. Bank of America surged 4.1 percent, and SunTrust Banks gained 3.6 percent.

Strong earnings reports also helped to lift stocks, as companies continue to report better results than expected. Analysts forecast this to be the best quarter of earnings growth in years.

Hasbro jumped $5.67, or 5.9 percent, to $101.70 after reporting stronger quarterly revenue and profits than analysts had forecast. Illinois Tool Works rose $4.89, or 3.6 percent, to $139.76 after also surprising analysts with a better-than-expected quarter.

In the commodities market, benchmark U.S. crude oil fell 39 cents to settle at $49.23 per barrel. Brent crude, which is used to price international oils, fell 36 cents to $51.60 per barrel. Natural gas fell 3.5 cents to $3.07 per 1,000 cubic feet, heating oil fell a penny to $1.54 per gallon and wholesale gasoline dropped 2 cents to $1.62 a gallon. Silver was virtually flat at $17.86 per ounce and copper added 1.5 cents to $2.55 per pound.

With expectations strengthening that the shared European economy will remain intact, the foreign-exchange market saw the value of the euro rise to $1.0858 from $1.0695 late Friday.

The dollar climbed to 109.79 Japanese yen from 109.21, and the British pound slipped to $1.2789 from $1.2795.

 

[bigdog]

Source: http://finance.yahoo.com . . . . . . . .
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The NYSE DOW closed HIGHER ▲ 232.23 points or ▲ 1.12% on Tuesday, April 25, 2017 .
Symbol …........Last …......Change....... . . . . . .
Dow_Jones 20,996.12 ▲ 232.23 ▲ 1.12% . .
Nasdaq____ 6,025.49 ▲ 41.67 ▲ 0.70% . .
S&P_500___ 2,388.61 ▲ 14.46 ▲ 0.61% . .
30_Yr_Bond____ 2.98 ▲ 0.05 ▲ 1.78% . .
. . . . . . . . . .
NYSE Volume 3,967,626,500 . . . . . . . .
Nasdaq Volume 1,898,595,750 . . . . . . . .
. . . . . . . . . .
Europe . . . . . . .
Symbol... .....Last ….....Change....... . .
FTSE_100 7,275.64 ▲ 10.96 ▲ 0.15% . .
DAX_____ 12,467.04 ▲ 12.06 ▲ 0.10% . .
CAC_40__ 5,277.88 ▲ 9.03 ▲ 0.17% . .
. . . . . . . . . .
Asia Pacific . . . . . . .
Symbol...... ….......Last .....Change…...... . . . . .
ASX_All_Ord___ 5,900.70 ▲ 15.10 ▲ 0.26% . Holiday
Shanghai_Comp 3,134.57 ▲ 5.04 ▲ 0.16% . .
Taiwan_Weight 9,841.71 ▲ 123.76 ▲ 1.27% . .
Nikkei_225___ 19,079.33 ▲ 203.45 ▲ 1.08% . .
Hang_Seng.__ 24,455.94 ▲ 316.46 ▲ 1.31% . .
Strait_Times.__ 3,163.93 ▲ 19.90 ▲ 0.63% . .
NZX_50_Index_ 7,222.94 ▲ 25.72 ▲ 0.36% . Holiday


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

Healthy profits push stocks higher yet; Nasdaq crosses 6,000

STAN CHOE

NEW YORK (AP) — Profits are climbing for companies, and so are their stock prices.

More big businesses joined the earnings parade Tuesday, saying their profits were even larger in the first three months of the year than analysts were expecting, including Caterpillar and McDonald's. The encouraging reports pushed U.S. indexes to their second straight day of big gains, placing them either close to or firmly in record territory.

The Standard & Poor's 500 index rose 14.46 points, or 0.6 percent, to 2,388.61. It's within a third of a percent of its all-time high, set at the start of March.

The Dow Jones industrial average gained even more due to the big jumps for Caterpillar and McDonald's, which are among the 30 stocks in the average. The Dow rose 232.23 points, or 1.1 percent, to 20,996.12.

The Nasdaq rose 41.67, or 0.7 percent, to 6,025.49, its first move above 6,000 points. The Russell 2000 of smaller-company stocks was up 13.13 points, or 0.9 percent, at 1,411.08.

"Earnings have come through quite nicely so far," said Ernie Cecilia, chief investment officer at Bryn Mawr Trust. "They're beating forecasts, the numbers have been quite good and this is now the second consecutive quarter that's happened."

After struggling for years with a slow global economy and weak oil prices, big U.S. businesses are in the midst of reporting their best quarter of profit growth in years, analysts say.

Companies in the S&P 500 are on track to report overall growth of about 10 percent in first-quarter earnings per share, according to S&P Global Market Intelligence. This is a particularly busy week, with more than a third of the companies in the S&P 500 scheduled to unveil their first-quarter results.

Many investors say strong profit reports are necessary to justify the big gains stocks have made. Stock prices in recent years have been climbing faster than earnings, which has led skeptics to call the market overly pricey.

Caterpillar soared $7.61, or 7.9 percent, to $104.42 after reporting stronger revenue and profits for the first quarter than analysts expected. It also raised its forecast for full-year results.

And it wasn't the only big industrial company to cite signs of optimism among customers. 3M said sales improved in all its markets around the world, while reporting stronger quarterly earnings than expected.

Such encouraging talk about the economy's strength raises hopes that revenues and profits can keep rising for companies, which could rein in worries about stocks being expensive.

McDonald's jumped $7.47, or 5.6 percent, to $141.70 after likewise surprising investors with better-than-expected results. New items on its menu helped it to drive sales at its U.S. restaurants.

Ryder System was among the relatively few stocks to fall on Tuesday. It lost $11.00, or 13.9 percent, to $68.28 after weaker-than-expected rental demand pushed it to report lower quarterly results than analysts had forecast.

Slightly more than two stocks rose for every one that fell on the New York Stock Exchange.

Even with so many corporate earnings reports on the docket, politics is still at center stage for stocks as well.

Global markets added to big gains made on Monday, when markets soared after results from the first round of France's presidential election raised expectations that the European Union and the euro currency will remain intact.

In Europe, France's CAC 40 rose 0.2 percent and reached its highest closing level since 2008. Germany's DAX rose 0.1 percent, and the FTSE 100 in London rose 0.2 percent. In Asia, Japan's Nikkei 225 index climbed 1.1 percent, South Korea's Kospi gained 1.1 percent and the Hang Seng in Honk Kong jumped 1.3 percent.

In the U.S., one of the main reasons for the stock market's strong ascent since November is excitement about the prospect for lower taxes for businesses.

President Donald Trump is expected to unveil details of his tax plan on Wednesday, including a cut in the corporate tax rate to 15 percent from 35 percent.

Investors, though, have grown more skeptical about the ability for Republicans in Washington to push through big change following their stumbles in overhauling the nation's health care system. If a corporate tax cut does occur, it would likely help lift companies' profits — and stock prices — even further.

In the commodities market, the price of gold fell $10.30 to settle at $1,267.20 per ounce, silver dropped 27 cents to $17.59 per ounce and copper added 3 cents to $2.58 per pound.

Benchmark U.S. crude oil rose 33 cents to $49.56 per barrel. Brent crude, which is used to price international oils, rose 50 cents to $52.10 per barrel. Natural gas fell 2 cents to $3.04 per 1,000 cubic feet, heating oil inched up a fraction of a penny to $1.55 per gallon and wholesale gasoline was close to flat at $1.62 per gallon.

The euro rose to $1.0939 from $1.0858 late Monday. The dollar rose to 111.09 Japanese yen from 109.79, and the British pound rose to $1.2830 from $1.2789.

Interest rates continued to climb from the low they set in the middle of the month. The yield on the 10-year Treasury rose to 2.33 percent from 2.27 percent late Monday. It was 2.17 percent a week ago.

 

[bigdog]

Source: http://finance.yahoo.com . . . . . . . .
. . . . . . . . . .
The NYSE DOW closed LOWER ▼ -21.03 points or ▼ -0.10% on Wednesday, April 26, 2017 .
Symbol …........Last …......Change....... . . . . . .
Dow_Jones 20,975.09 ▼ -21.03 ▼ -0.10% . .
Nasdaq____ 6,025.23 ▼ -0.27 ▲ 0.00% . .
S&P_500___ 2,387.45 ▼ -1.16 ▼ -0.05% . .
30_Yr_Bond____ 2.97 ▼ -0.01 ▼ -0.27% . .
. . . . . . . . . .
NYSE Volume 4,105,284,500 . . . . . . . .
Nasdaq Volume 1,878,078,120 . . . . . . . .
. . . . . . . . . .
Europe . . . . . . .
Symbol... .....Last ….....Change....... . .
FTSE_100 7,288.72 ▲ 13.08 ▲ 0.18% . .
DAX_____ 12,472.80 ▲ 5.76 ▲ 0.05% . .
CAC_40__ 5,287.88 ▲ 10.00 ▲ 0.19% . .
. . . . . . . . . .
Asia Pacific . . . . . . .
Symbol...... ….......Last .....Change…...... . . . . .
ASX_All_Ord___ 5,936.80 ▲ 36.10 ▲ 0.61% . .
Shanghai_Comp 3,140.85 ▲ 6.28 ▲ 0.20% . .
Taiwan_Weight 9,856.45 ▲ 14.74 ▲ 0.15% . .
Nikkei_225___ 19,289.43 ▲ 210.10 ▲ 1.10% . .
Hang_Seng.__ 24,578.43 ▲ 122.49 ▲ 0.50% . .
Strait_Times.__ 3,173.76 ▲ 9.83 ▲ 0.31% . .
NZX_50_Index_ 7,335.13 ▲ 112.19 ▲ 155.00% . .

http://finance.yahoo.com/news/stocks-hold-steady-ahead-tax-140527198.html

Stock indexes wobble as White House unveils tax plan

Stan Choe, AP Business Writer

NEW YORK (AP) -- Stock indexes wobbled between modest gains and losses Wednesday, as the White House unveiled broad outlines of its plan to slash tax rates but left many of the details to be determined.

Anticipation for a big tax cut, along with looser regulations on businesses, have been two of the main drivers behind the stock market's surge since November, when Republicans swept into Washington. The White House delivered a big number Wednesday, when officials said they hope to cut the top corporate tax rate to 15 percent from 35 percent.

But many specifics are still to be negotiated, such as how much it will affect the government's budget deficit, and they will need to be hammered out with Congress. That left investors questioning exactly how much benefit will flow through to corporate profits, and how much stock prices should climb beyond what they already have.

"Tax reform will be good, but a lot of that has already been priced into the market," said David MacEwen, co-chief investment officer for American Century Investments.

The Standard & Poor's 500 index slipped by 1.16 points, or less than 0.1 percent, to 2,387.45. It had briefly climbed above its record closing level of 2,395.96 earlier in the day, only to give up its gains in the last minutes of trading.

The Dow Jones industrial average lost 21.03 points, or 0.1 percent, to 20,975.09, and the Nasdaq composite slipped 0.27 points, or less than 0.1 percent, to 6,025.23. Stocks of smaller companies did better, with the Russell 2000 index of small-caps rising 8.35, or 0.6 percent, to 1,419.43.

The proposal for a 15 percent corporate tax rate is likely just an opening salvo, and negotiations with Congress may push that figure higher, analysts said. Any corporate tax cut would help boost profits for businesses, which would help justify the 11.6 percent surge for the S&P 500 since Election Day. Some investors are worried stocks have grown too expensive because prices have climbed faster than corporate profits.

MacEwen said several elements of the tax proposal would be beneficial, including how foreign profits would be treated, but what Washington ultimately gets approved may fall short of the stock market's expectations. Also still uncertain is how much the final proposal would boost the economy, which would drive profits further and justify yet more stock price gains.

Of course, tax policy isn't the only thing pushing stocks higher, MacEwen said. Businesses are in the midst of reporting their profits for the first three months of the year, and they've largely been better than expected. Analysts expect this to be the strongest quarter of growth in years.

Edwards Lifesciences jumped to the largest gain in the S&P 500 Wednesday after it reported stronger revenue and profit for the latest quarter than analysts expected. The company also raised its profit forecast for the year. Its stock jumped $10.38, or 10.5 percent, to $109.30.

Wynn Resorts rose $6.97, or 5.9 percent, to $125.19 after reporting revenue and profits that topped expectations. The company saw stronger revenue from its Las Vegas casino, as well as its new Macau resort, which opened in August.

On the losing end Wednesday was U.S. Steel, which reported a loss for the first quarter and cut its profit forecast for the year. Its stock sank $8.33, or 26.85 percent, to $22.78.

Seagate Technology, a maker of hard drives and other data storage products, fell $8.50, or 16.8 percent, to $42.01 after reporting weaker revenue for the latest quarter than analysts expected. Its profit nevertheless topped expectations.

In European stock markets, the French CAC 40 rose 0.2 percent, the FTSE 100 in London added 0.2 percent and the German DAX was close to flat. In Asia, the Japanese Nikkei 225 jumped 1.1 percent, the South Korean Kospi rose 0.5 percent and Hong Kong's Hang Seng added 0.5 percent.

Benchmark U.S. crude oil rose 6 cents to settle at $49.62 a barrel. Brent crude, which is used to price international oils, fell 28 cents to $51.82.

Natural gas rose 10 cents to $3.14 per 1,000 cubic feet, wholesale gasoline fell 3 cents to $1.59 per gallon and heating oil fell 1 cent to $1.54 per gallon.

Gold fell $3 to $1,264.20 per ounce, silver lost 23 cents to $17.36 and copper rose 1 cent to $2.59 per pound.

The euro slipped to $1.0899 from $1.0939 late Tuesday, while the dollar rose to 111.38 Japanese yen from 111.09 yen. The British pound rose to $1.2843 from $1.2830.

U.S. government bond prices rose. The yield on the 10-year Treasury note slipped to 2.30 percent from 2.34 percent late Tuesday.

 

[bigdog]

Source: http://finance.yahoo.com . . . . . . . .
. . . . . . . . . .
The NYSE DOW closed HIGHER ▲ 0.0003 points or ▲ 0.00% on Thursday, April 27, 2017 .
Symbol …........Last …......Change....... . . . . . .
Dow Jones Industrial Average 20,981.33 ▲ 6.24 ▲ 0.03% . .
Nasdaq____ 6,048.94 ▲ 23.71 ▲ 0.39% . .
S&P_500___ 2,388.77 ▲ 1.32 ▲ 0.06% . .
30_Yr_Bond____ 2.97 ▼ -0.01 ▼ -0.20% . .
. . . . . . . . . .
NYSE Volume 4,098,527,250 . . . . . . . .
Nasdaq Volume 1,858,481,880 . . . . . . . .
. . . . . . . . . .
Europe . . . . . . .
Symbol... .....Last ….....Change....... . .
FTSE_100 7,237.17 ▼ -51.55 ▼ -0.71% . .
DAX_____ 12,443.79 ▼ -29.01 ▼ -0.23% . .
CAC_40__ 5,271.70 ▼ -16.18 ▼ -0.31% . .
. . . . . . . . . .
Asia Pacific . . . . . . .
Symbol...... ….......Last .....Change…...... . . . . .
ASX_All_Ord___ 5,944.40 ▲ 7.60 ▲ 0.13% . .
Shanghai_Comp 3,152.19 ▲ 11.34 ▲ 0.36% . .
Taiwan_Weight 9,860.62 ▲ 4.17 ▲ 0.04% . .
Nikkei_225___ 19,251.87 ▼ -37.56 ▼ -0.19% . .
Hang_Seng.__ 24,698.48 ▲ 120.05 ▲ 0.00% . .
Strait_Times.__ 3,171.36 ▼ -2.40 ▼ -0.08% . .
NZX_50_Index_ 7,354.61 ▲ 19.48 ▲ 0.27% . .

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

Nudge higher for US stocks enough to push Nasdaq to a record

Stan Choe, AP Business Writer

NEW YORK (AP) -- U.S. stock indexes fluttered up and down Thursday, then ended the day a hair above where they started. The slight gains were enough to nudge the Nasdaq composite to another record and the Standard & Poor's 500 index to within a whisper of its all-time high.

It was the second straight day where indexes made only modest, meandering moves, a downshift from big gains made early in the week. The Standard & Poor's 500 index rose 1.32 points, or 0.1 percent, to 2,388.77 and is within a third of a percent of its record.

The Dow Jones industrial average added 6.24 points, less than 0.1 percent, to 20,981.33. The Nasdaq composite rose 23.71, or 0.4 percent, to 6,048.94 and reached a closing high for the third time in four days.

Gains by Under Armour, Comcast and other companies reporting stronger-than-expected profits on Thursday helped to offset a slump in energy stocks. The encouraging reports added to the lengthening list of companies saying they earned more in the first three months of 2017 than Wall Street had forecast. Analysts expect this to be the strongest quarter of growth in years.

The reports have helped lift stocks and temper concerns, at least a bit, that the market had grown too expensive.

"Expectations were high, and they needed to deliver, so thankfully they have delivered," said Nate Thooft, senior portfolio manager at Manulife Asset Management. "As long as earnings continue to follow through and economic data doesn't roll over materially, stocks can keep going. People will say that valuations are expensive, but I would say, 'Yeah, but not relative to fixed income.'"

Under Armour jumped to the biggest gain in the S&P 500 after reporting bigger profits than analysts expected. A rise in sales abroad, particularly in Asia, helped push its revenue to $1.12 billion from $1.05 billion in last year's first quarter. The company's A-class shares climbed $1.96, or 9.9 percent, to $21.67.

PayPal Holdings jumped $2.74, or 6.2 percent, to $47.15 after also reporting stronger revenue and earnings than Wall Street had forecast.

Comcast's A shares rose 80 cents, or 2.1 percent, to $39.59 after stronger revenue at theme parks it acquired as part of its NBCUniversal purchase helped it to report stronger first-quarter results than analysts expected.

Even some of the day's losers reported better-than-expected results. American Airlines fell $2.42, or 5.2 percent, to $43.98, for example. Investors were paying more attention to its plans to raise pay for pilots and flight attendants, which would erode future profits, than its earnings from the latest quarter.

Energy stocks were also weak, slumping with the price of oil. Benchmark U.S. crude dropped 65 cents, or 1.3 percent, to settle at $48.97 per barrel, while Brent crude, which is used to price international oils, fell 38 cents to $51.44 a barrel.

Noble Energy lost $1.59, or 4.7 percent, to $32.57, and offshore-drilling contractor Transocean fell 39 cents, or 3.4 percent, to $11.06.

The incremental moves made by stock indexes the last two days belie the many crosscurrents coursing through the market. Stocks jumped early in the week, in part on relief following the first round of France's presidential election. Results indicate France may not try to break apart from the European Union.

Washington is also a big factor. White House officials unveiled the broad outlines of a tax plan Wednesday, though many specifics are still to be determined. Expectations for lower taxes, plus less regulation for businesses, have helped drive stocks higher since November. A potential shutdown of the federal government also looms unless Congress can agree on a spending bill.

In European stock markets, the French CAC 40 fell 0.3 percent, the German DAX slipped 0.2 percent and the FTSE 100 in London dropped 0.7 percent. In Asia, the Nikkei 225 in Japan slipped 0.2 percent, South Korea's Kospi added 0.1 percent and the Hang Seng in Hong Kong rose 0.5 percent.

The price of gold rose $1.70 to settle at $1,265.90 an ounce, silver slipped 10 cents to $17.27 per ounce and copper fell a penny to $2.58 per pound.

Natural gas slipped 3 cents to settle at $3.24 per 1,000 cubic feet, heating oil fell 3 cents to $1.51 per gallon and wholesale gasoline dropped 4 cents to $1.55 per gallon.

The euro fell to $1.0882 from $1.0899 late Wednesday while the dollar slipped to 111.23 Japanese yen from 111.38 yen. The British pound rose to $1.2903 from $1.2843.

Treasury yields ticked lower as government bond prices rose. The 10-year Treasury yield edged down to 2.29 percent from 2.30 percent late Wednesday.

 

[bigdog]

Source: http://finance.yahoo.com . . . . . . . .
. . . . . . . . . .
The NYSE DOW closed LOWER ▼ -40.82 points or ▼ -0.19% on Friday, April 28, 2017 .
Symbol …........Last …......Change....... . . . . . .
Dow_Jones 20,940.51 ▼ -1.33 ▼ -0.19% . .
Nasdaq____ 6,047.61 ▼ -1.33 ▼ -0.02% . .
S&P_500___ 2,384.20 ▼ -4.57 ▼ -0.19% . .
30_Yr_Bond____ 2.95 ▼ -0.01 ▼ -0.44% . .
. . . . . . . . . .
NYSE Volume 3,715,650,750 . . . . . . . .
Nasdaq Volume 1,994,893,620 . . . . . . . .
. . . . . . . . . .
Europe . . . . . . .
Symbol... .....Last ….....Change....... . .
FTSE_100 7,203.94 ▼ -33.23 ▼ -0.46% . .
DAX_____ 12,438.01 ▼ -5.78 ▼ -0.05% . .
CAC_40__ 5,267.33 ▼ -4.37 ▼ -0.08% . .
. . . . . . . . . .
Asia Pacific . . . . . . .
Symbol...... ….......Last .....Change…...... . . . . .
ASX_All_Ord___ 5,947.60 ▲ 3.20 ▲ 0.05% . .
Shanghai_Comp 3,154.66 ▲ 2.47 ▲ 0.08% . .
Taiwan_Weight 9,872.00 ▲ 11.38 ▲ 0.12% . .
Nikkei_225___ 19,196.74 ▼ -55.13 ▼ -0.29% . .
Hang_Seng.__ 24,615.13 ▼ -83.35 ▲ 0.00% . .
Strait_Times.__ 3,175.44 ▲ 4.08 ▲ 0.13% . .
NZX_50_Index_ 7,378.75 ▲ 24.14 ▲ 0.33% . .

http://finance.yahoo.com/news/us-stock-indexes-veer-mostly-142305538.html

US stocks close modestly lower, but end higher for the week

ALEX VEIGA

U.S. stocks closed modestly lower Friday, ending just short of another milestone for Wall Street.

The Nasdaq composite index narrowly missed its fourth record-high close this week, though all the major indexes still notched weekly gains.

Phone companies, banks and materials stocks were among the big decliners. Technology stocks gained the most, while health care and energy also bucked the broader market slide. Crude oil prices rose.

Investors continued to focus on company earnings reports as they mine for insight into the health of Corporate America. So far, earnings have been mostly exceeding Wall Street's expectations. But an unimpressive report on economic growth in the first quarter may have given some traders pause Friday.

"The market is worried that the second quarter perhaps will see continued weakness, and that's part of the tug-of-war we're seeing in the market," said Quincy Krosby, market strategist at Prudential Financial. "Are we going to see the economy snapping out of this weak patch?"

The Standard & Poor's 500 index slipped 4.57 points, or 0.2 percent, to 2,384.20. The Dow Jones industrial average fell 40.82 points, or 0.2 percent, to 20,940.51. The Nasdaq composite lost 1.33 points, or 0.02 percent, to 6,047.61.

Small-company stocks fell more than the rest of the market. The Russell 2000 index gave back 16.70 points, or 1.2 percent, to 1,400.43. Three stocks fell for every two that rose on the New York Stock Exchange.

Bond prices edged higher. The 10-year Treasury yield slipped to 2.28 percent from 2.30 percent late Thursday.

The market started the week off on a strong note, in part reflecting relief following the first round of France's presidential election. Results suggest France may not try to break apart from the European Union.

Washington also helped move the market. On Wednesday, White House officials unveiled the broad outlines of a tax plan, stoking expectations of lower taxes, plus less regulation for businesses, policy proposals that have helped drive stocks higher since November.

On Friday, the major stock indexes were flat or down much of the day. Early on, investors weighed the government's initial estimate of economic growth in the first three months of the year.

The Labor Department said that the U.S. economy turned in its weakest performance in three years in the January-March quarter, reflecting a slowdown in consumer spending. Growth, as measured by gross domestic product, amounted to 0.7 percent in the first quarter. That was less than what economists were expecting and followed a gain of 2.1 percent in the final quarter of 2016.

Traders also continued to size up company earnings. A little more than half of the companies in the S&P 500 index have reported results for the January-March quarter. Some 55 percent of those turned in earnings and revenue that exceeded Wall Street's expectations, according to S&P Global Market Intelligence.

"Earnings have been topping expectations for the most part, but overall, the market is still nervous about growth and whether or not we're going to see a pickup in economic releases," Krosby said. "The market remains nervous about geopolitical risk and remains nervous about tax reform."

Investors bid up shares in companies that delivered better-than-expected results.

Google's parent company, Alphabet, gained 3.7 percent after the internet giant reported better-than-expected quarterly results thanks partly to a big jump in advertising revenue. The stock added $33.08 to $924.52.

Amazon.com rose 0.7 percent after the online retailer posted solid first-quarter results. The stock picked up $6.61 to $924.99.

Royal Caribbean Cruises gained 6.1 percent after the cruise line operator posted solid earnings and bookings. The stock added $6.10 to $106.60. Rival Carnival also rose, picking up 79 cents, or 1.3 percent, to $61.77.

Several companies slumped after they reported disappointing results.

Synchrony Financial tumbled 15.9 percent. The stock was the biggest decliner in the S&P 500, sliding $5.25 to $27.80.

Medical software and services company Athenahealth sank 19.3 percent as sales and margins weakened. The stock fell $23.44 to $98.01.

Starbucks lost 2 percent after the coffee chain's sales growth at established locations was weaker than expected. The company also posted fiscal second-quarter earnings that matched Wall Street's expectations. The stock shed $1.24 to $60.06.

Time Inc.'s decision not to sell itself sent the stock plummeting 16.9 percent. The magazine publisher's shares fell $3.10 to $15.20.

Major stock indexes overseas mostly closed lower.

In Europe, Germany's DAX was flat, while France's CAC 40 slipped 0.1 percent. London's FTSE 100 index lost 0.5 percent. In Asia, indexes mostly fell. Tokyo's Nikkei 225 lost 0.3 percent, while Hong Kong's Hang Seng declined 0.3 percent. Seoul's Kospi shed 0.2 percent.

Eurozone inflation data pushed the euro up sharply as it raised speculation that the central bank may not keep its stimulus program in place as long as expected. It was up to $1.0895 from $1.0882 on Thursday. The dollar strengthened to 111.44 yen from 111.23 yen.

Benchmark U.S. crude rose 36 cents, or 0.7 percent, to settle at $49.33 per barrel in New York. Brent crude, used to price international oils, climbed 29 cents, or 0.6 percent, to $51.73 a barrel in London. Home heating oil fell less than a penny to $1.50 a gallon, wholesale gasoline was little changed at $1.55 a gallon and natural gas rose 4 cents to $3.28 per 1,000 cubic feet.

In metals trading, gold rose $2.40 to settle at $1,268.30 an ounce, while silver slipped 7 cents to $17.19 per ounce. Copper gained 2 cents to $2.60 per pound.


5226.

 

[bigdog]

Source: http://finance.yahoo.com . . . . . . . .
. . . . . . . . . .
The NYSE DOW closed LOWER ▼ -27.05 points or ▼ -0.13% on Monday, May 1, 2017 .
Symbol …........Last …......Change....... . . . . . .
Dow_Jones 20,913.46 ▼ 44.00 ▼ -0.13% . .
Nasdaq____ 6,091.60 ▲ 44.00 ▲ 0.73% . .
S&P_500___ 2,388.33 ▲ 4.13 ▲ 0.17% . .
30_Yr_Bond____ 3.01 ▲ 0.06 ▲ 2.00% . .
. . . . . . . . . .
NYSE Volume 3,199,374,000 . . . . . . . .
Nasdaq Volume 1,737,735,880 . . . . . . . .
. . . . . . . . . .
Europe . . . . . . .
Symbol... .....Last ….....Change....... . .
FTSE_100 7,203.94 ▼ -33.23 ▼ -0.46% . .
DAX_____ 12,438.01 ▼ -5.78 ▼ -0.05% . .
CAC_40__ 5,267.33 ▼ -4.37 ▼ -0.08% . .
. . . . . . . . . .
Asia Pacific . . . . . . .
Symbol...... ….......Last .....Change…...... . . . . .
ASX_All_Ord___ 5,976.40 ▲ 28.80 ▲ 0.48% . .
Shanghai_Comp 3,154.66 ▲ 2.47 ▲ 0.08% . .
Taiwan_Weight 9,872.00 ▲ 11.38 ▲ 0.12% . .
Nikkei_225___ 19,310.52 ▲ 113.78 ▲ 0.59% . .
Hang_Seng.__ 24,615.13 ▼ -83.35 ▼ -0.34% . .
Strait_Times.__ 3,175.44 ▲ 4.08 ▲ 0.13% . .
NZX_50_Index_ 7,382.22 ▲ 3.47 ▲ 0.05% . .

https://uk.news.yahoo.com/us-stock-indexes-mixed-technology-companies-gain-141955111.html

Technology companies and banks take stocks higher

MARLEY JAY

NEW YORK (AP) — U.S. stocks rose Monday as big technology companies like Apple continued to rally. Investors bought stocks and sold bonds and gold after Congress agreed to a deal that will keep the government operating for the rest of the fiscal year.

Technology companies have set the pace all year and are up more than twice as much as the rest of the market. Apple and Facebook, which will report their first-quarter results in the next few days, helped lead the way.

Investors were relieved that the threat of a government shutdown appears to have been averted, so they bought riskier stocks and sold government bonds, gold, and high-dividend stocks. The VIX, an index that is seen as a measure of the market's anxiety level, fell to its lowest level since February 2007.

Technology companies and banks have stood out in the first quarter, said David Schiegoleit, the head of investments at U.S. Bank's Private Client Reserve. He said many different types of technology companies are doing well, especially ones that cater to consumers. A key reason is that after years of trouble, economies outside the U.S. are improving.

"Emerging market economies are starting to get better momentum and we're also starting to see some pretty decent activity out of Europe," he said. "All the different major components of the technology sector are posting double-digit (earnings) gains."

The Standard & Poor's 500 index picked up 4.13 points, or 0.2 percent, to 2,388.33. The Dow Jones industrial average lost 27.05 points, or 0.1 percent, to 20,913.46 as Boeing and IBM lagged.

Thanks to the gains for technology companies, the Nasdaq composite rose 44 points, or 0.7 percent, to 6,091.60, and set another record high. The Russell 2000 index of small-company stocks gained 6.93 points, or 0.5 percent, to 1,407.36.

Analysts expect first-quarter earnings for technology companies and banks to rise 19 percent from the same period a year earlier, according to S&P Global Market Intelligence. While most banks have already released their results, there are dozens of technology companies remaining to report.

Apple climbed $2.95, or 2.1 percent, to $146.60 and Facebook added $2.21, or 1.5 percent, to $152.46. Microsoft, which disclosed its earnings last week, rose 95 cents, or 1.4 percent, to $69.41.

Online retailer Amazon.com stood out among consumer-focused companies as it picked up $23.44, or 2.5 percent, to $948.43.

Before dawn on Monday, Congress unveiled a spending bill that would fund most government operations through September. The House is currently scheduled to vote on the bill Wednesday. The bill does not include the border wall President Donald Trump has proposed, and rejects his proposed cuts to popular domestic programs.

With investors reassured, they sold bonds. The yield on the 10-year Treasury note rose to 2.32 percent from 2.29 percent. That sent interest rates higher, which allows banks to charge higher interest rates on loans. Capital One Financial advanced $1.19, or 1.5 percent, at $81.57 and Citizens Financial rose 56 cents, or 1.5 percent, to $37.13.

Investors also sold high-dividend stocks including utilities, phone companies and makers of household goods.

Aerospace companies struggled after aircraft parts distributor Wesco Aircraft Holdings gave a weak second-quarter forecast. The company also said its president and CEO retired, and its stock tumbled $2.20, or 18.1 percent, to $9.95. Boeing fell $2.44, or 1.3 percent, to $182.39 and aircraft and helicopter maker Textron gave up 53 cents, or 1.1 percent, to $46.13.

Industrial companies lagged the rest of the market following a report that output by U.S. factories didn't grow as much as analysts expected. The Institute for Supply Management said new orders and hiring grew more slowly in April.

Tribune Media rose after the Financial Times reported that Twenty-First Century Fox and Blackstone may make a joint takeover bid for the company. Tribune Media has stakes in Food Network, WGN cable network and owns TV stations. Tribune stock gained $2.19, or 6 percent, to $38.75. The companies declined to comment. Sinclair Broadcast Group is also reported to be interested in buying Tribune.

Investment management company AllianceBernstein fell after it replaced Peter Kraus as chairman and CEO and removed most of the directors of its board. Kraus has led the company since 2008. The company named a new non-executive chairman and separate CEO, and removed nine of the 11 members of the board. It named six new directors. The stock gave up 75 cents, or 3.3 percent, to $22.15.

Benchmark U.S. crude fell 49 cents, or 1 percent, to $48.84 a barrel in New York. Brent crude, used to price international oils, declined 53 cents, or 1 percent, to $51.52 a barrel in London.

Wholesale gasoline lost 2 cents to $1.53 a gallon. Heating oil fell 2 cents to $1.49 a gallon. Natural gas dropped 6 cents to $3.22 per 1,000 cubic feet.

The price of gold fell $12.80, or 1 percent, to $1,255.50 an ounce. Silver fell 42 cents, or 2.4 percent, to $16.84 an ounce. Copper rose 5 cents, or 2 percent, to $2.66 a pound.

The dollar rose to 111.83 yen from 111.44 yen. The euro advanced to $1.0906 from $1.0895.

Many markets in Asia and Europe were closed for May Day. Japan's benchmark Nikkei 225 was an exception and it gained 0.6 percent. Stocks in Japan were helped by a weaker yen and strong readings in a manufacturing survey.

 

[bigdog]

http://hosted2.ap.org/APDEFAULT/f70...l Markets/id-71deb4d712aa4ed18eb7cffad11786b2

May. 2, 2017 5:00 PM ET
Stocks scuffle as slowing auto sales worry Wall Street
By MARLEY JAY, AP Markets Writer

NEW YORK (AP) — Despite strong results from industrial companies, U.S. stocks couldn't get any momentum going Tuesday after car makers said their sales are shrinking.

Engine maker Cummins sent manufacturers and other industrial companies higher after reporting solid first-quarter earnings. A late slump took the price of oil to its lowest price in almost six months. Ford, General Motors and Fiat Chrysler all fell after they said sales declined in April.

Chris Zaccarelli, chief investment officer for Cornerstone Financial Partners, said auto sales have weakened because lenders are growing a bit hesitant to make loans to help people buy cars.

"It's more a story specific to the auto sector as opposed to a slowdown in consumer spending," he said.

Thanks to an upturn in the last few minutes of trading, the Standard & Poor's 500 index rose 2.84 points, or 0.1 percent, to 2,391.17. The Dow Jones industrial average added 36.43 points, or 0.2 percent, to 20,949.89. The Nasdaq composite set another record as it picked up 3.76 points, or 0.1 percent, to 6,095.37. The Russell 2000 index of small-company stocks sank 8 points, or 0.6 percent, to 1,399.36.

The six largest auto makers in the U.S. all said their sales fell in April. Vehicle sales have set records the last few years and analysts are worried the streak is ending and car companies are relying too much on discounts and incentives to keep their sales numbers high.

Ford lost 50 cents, or 4.4 percent, to $10.92 and GM gave up $1, or 2.9 percent, to $33.20 while Fiat Chrysler skidded 49 cents, or 4.3 percent, to $10.92. Car retailers, rental companies and parts suppliers slipped as well.

Industrial companies made some of the biggest gains. Cummins reported a far bigger profit and better sales than analysts expected, and its stock climbed $9.23, or 6.1 percent, to $160.56. The company said demand from construction and mining sales grew compared with the same period a year ago, but truck production in North America fell.

Benchmark U.S. crude lost $1.18, or 2.4 percent, to $47.66 a barrel in New York. That's its lowest price since mid-November. Brent crude, used to price international oils, shed $1.06, or 2.1 percent, to $50.46 a barrel in London.

Health care stocks shook off an early loss. Merck climbed after it reported strong sales of newer medications including its cancer drug Keytruda and hepatitis C drug Zepatier, and its stock gained 32 cents to $62.70. Hospital chain Tenet Healthcare jumped $3.31, or 21.6 percent, to $18.66 after it agreed to sell three hospitals to HCA Holdings for $725 million and said it will rejoin insurer Humana's network.

Technology stocks rose further. The S&P 500's technology index, which includes 69 major companies, is at its highest levels since March 2000, the peak of the dot-com boom. However it's still well below the records it set back then.

Apple gained 93 cents to $147.51 during regular trading. Its stock lost 2 percent in aftermarket trading after the company reported results that included slightly disappointing quarterly iPhone sales. Its guidance also wasn't as strong as investors hoped.

Consumer products companies slipped. Drugstore operator and pharmacy benefits manager CVS Health lost $2.96, or 3.6 percent, to $79 and agricultural company Archer-Daniels-Midland shed $4.06, or 8.9 percent, to $41.67 after their respective earnings reports.

Consumer reviews website Angie's List soared after it agreed to be bought by media company IAC/InterActiveCorp. IAC/InterActive wants to combine Angie's List with its HomeAdvisor.com business, which offers resources for home repair and improvement projects. The company will be called ANGI Homeservices.

IAC/InterActive offered to buy Angie's List in 2015 for $8.75 a share, which Angie's List said was too low. On Tuesday its stock jumped $3.6, or 61.5 percent, to $9.51 and IAC/InterActive rose $12.05, or 14.3 percent, to $96.24.

Health insurer Molina Healthcare fired CEO Mario Molina and chief financial officer John Molina, citing the company's poor financial performance. The Medicaid administrator was founded by their father, David Molina, who died in 1996. The stock jumped $8.95, or 17.6 percent, to $59.75.

Bond prices headed higher. The yield on the 10-year Treasury note fell to 2.28 percent from 2.32 percent.

In other energy trading, wholesale gasoline dipped 1 cent to $1.51 a gallon. Heating oil lost 2 cents to $1.47 a gallon. Natural gas gave up 2 cents to $3.20 per 1,000 cubic feet.

Gold rose $1.50 to $1,257 an ounce. Silver fell 1 cent to $16.83 an ounce. Copper lost 3 cents to $2.64 a pound.

The dollar rose to 112 yen from 111.83 yen. The euro rose to $1.0928 from $1.0906.

In Greece the Athex composite jumped 3.1 percent after the country and its creditors agreed Greece should make another round of pension cuts in 2019 and commit to a budget target when its current bailout program ends next year. That deal will restart bailout loan payments to Greece, meaning it won't face default. That could have touched off another eurozone crisis. Other European stocks also rallied. The CAC 40 in France added 0.7 percent while Britain's FTSE 100 index gained 0.6 percent. In Germany, the DAX rose 0.6 percent.

The Japanese Nikkei 225 index advanced 0.7 percent and South Korea's Kospi gained 0.7 percent. The Hang Seng in Hong Kong added 0.3 percent.

 

[bigdog]

https://www.ksl.com/?nid=151&sid=44...s-media-health-care-companies-fall-banks-jump

Stocks dip as media, health care companies fall; banks jump
By Marley Jay, Associated Press

NEW YORK (AP) — U.S. stocks dipped Wednesday as media and health care companies took losses. The Federal Reserve left interest rates unchanged, but bond yields and banks rose as investors felt rates will increase soon.

First-quarter results for most companies have been good, but stocks were lower all day as a few big-name companies disclosed shaky results. Media companies tumbled after Time Warner said its cable advertising revenue fell. Apple slipped after iPhone sales came in lower than investors expected, but the stock recovered nearly all of its losses.

The Federal Reserve left interest rates where they were, but also said it expects the economy to start growing at a faster pace. That could set the stage for the Fed to boost interest rates in June. Bond yields and interest rates rose after the Fed made its statement. That sent bank stocks higher, which narrowed the market's losses. The dollar also got a bit stronger.

Ryan Detrick, senior market strategist for LPL Financial, said he agrees that the economy will improve following a sluggish first quarter.

"Earnings have been strong across the board," he said. "The economy isn't quite as weak as that GDP (report) makes it look."

The Standard & Poor's 500 index slipped 3.04 points, or 0.1 percent, to 2,388.13. The Dow Jones industrial average added 8.01 points to 20,957.90. The Nasdaq composite sank 22.82 points, or 0.4 percent, to 6,072.55. The Russell 2000 index, which tracks smaller companies, declined 8.44 points, or 0.6 percent, to 1,390.92.

The Federal Reserve said economic growth slowed over the last six weeks as inflation stayed low and spending didn't increase much. However it expects growth to pick up and said inflation should eventually reach its target of 2 percent. Experts think it's likely the central bank will raise rates in June, as it did last December and again in March. Detrick said he thinks the Fed will raise interest rates two more times this year.

Media companies slumped after Time Warner, the owner of HBO and TBS, said revenue from cable advertising fell in the first quarter. Time Warner has agreed to be bought by AT&T, so its stock hardly budged, but its competitors slumped. Walt Disney shed $2.75, or 2.4 percent, to $111.62, for its biggest loss in almost a year. Viacom sank $3.20, or 7.5 percent, to $39.26 and CBS lost $2.20, or 3.4 percent, to $63.46. Twenty-First Century Fox gave up $1.55, or 5.1 percent, to $28.88.

Apple's first-quarter iPhone sales and projections for the current quarter weren't quite as good as analysts hoped. Apple stock struggled in late 2015 and for much of 2016 as iPhone sales slowed down and then fell for the first time. But they've climbed 27 percent this year and the stock closed at an all-time high Tuesday. It fell as much as 2.2 percent early Wednesday, but finished down just 45 cents at $147.06.

Irish generic drug maker Perrigo said its offices were searched as part of a Justice Department investigation into pricing by generic drug companies. Perrigo dropped $3.88, or 5.1 percent, to $72.35. Several other companies have previously disclosed subpoenas connected to that probe, including Mylan and Lannett. Mylan fell 98 cents, or 2.6 percent, to $37.19. Lannett had a disappointing quarter as drug pricing remained weak, and its stock tumbled $5.05, or 18.6 percent, to $22.10.

Biotech drugmaker Gilead Sciences reported disappointing profit and revenue as sales of its hepatitis C drugs Sovaldi and Harvoni plunged in all major markets, and its stock gave up $1.38, or 2 percent, to $67.21.

Bond prices turned lower. The yield on the 10-year Treasury note rose to 2.32 percent from 2.29 percent and banks climbed.

U.S. benchmark crude added 16 cents to $47.82 a barrel in New York. On Tuesday U.S. crude oil closed at its lowest price since mid-November. Brent crude, used to price international oils, rose 33 cents to $50.79 a barrel in London.

Wireless spectrum license company Straight Path Communications continued to soar. It said it's received an all-stock offer worth $135.96 per share from an undisclosed buyer. AT&T had agreed to pay $95.63 per share. The company said it informed AT&T that the new offer is superior, and AT&T will have three days to decide if it wants to raise its offer.

Straight Path's stock jumped $29.38, or 23.4 percent, to $155.20.

Vehicle parts maker Delphi Automotive surged after it said it will spin off its powertrain systems business into a separate publicly traded company. Investors often applaud such transactions, which are tax-free, because they can help fast-growing businesses concentrate on expanding. Delphi's stock added $8.56, or 10.9 percent, to $87.01.

In other energy trading, wholesale gasoline added 2 cents to $1.53 a gallon. Heating oil stayed at $1.47 a gallon. Natural gas rose 3 cents to $3.23 per 1,000 cubic feet.

Gold fell $8.50 to $1,248.50 an ounce. Silver lost 29 cents to $16.55 an ounce. Copper dropped 9 cents, or 3.5 percent, to $2.54 a pound.

The dollar rose to 112.64 yen from 112 yen. The euro slid to $1.0906 from $1.0928.

The British FTSE 100 retreated 0.2 percent and France's CAC 40 lost 0.1 percent. The DAX of Germany rose 0.2 percent. Markets in Japan, Hong Kong and South Korea were closed for a holiday.

 

[bigdog]

http://www.wbrc.com/story/35341742/plunging-oil-prices-weigh-on-stocks-as-other-sectors-edge-up

Plunging oil prices weigh on stocks as other sectors edge up

By MARLEY JAY
AP Markets Writer

NEW YORK (AP) - Oil prices and energy companies plunged Thursday, but other stocks didn't move much as investors waited for more signs about the state of the economy.

Household goods makers and health care companies rose following some solid company earnings reports. Most other parts of the market made little gains, but energy companies took sharp losses as the price of crude oil fell almost 5 percent. That was its biggest one-day loss in about two months.

"We may be seeing signs that global production is strong, and whenever markets see a decline in oil prices they worry it's actually an indication of weak demand," said Kate Warne, an investment strategist for Edward Jones.

Warne said oil prices have slipped recently because of an accumulation of concerns about rising energy production in the U.S. and slower economic growth in both the U.S. and China.

Health care stocks didn't react much to the narrow passage in the House of Representatives of a bill intended to roll back much of former President Barack Obama's health care law. The bill now heads to the Senate, where its fate is less certain.

Broader market measures did tick higher after the bill was passed, however, as investors hoped the Republican-controlled Congress may be in a better position to compromise on business-friendly polices such as tax cuts.

The Standard & Poor's 500 index rose 1.39 points, or 0.1 percent, to 2,389.52. The Dow Jones industrial average lost 6.43 points to 20,951.47. The Nasdaq composite added 2.79 points to 6,075.34. The Russell 2000 index of small-company stocks dipped 2.08 points, or 0.1 percent, to 1,388.85. On the New York Stock Exchange, two out of every three stocks fell.

U.S. benchmark crude futures shed another $2.30, or 4.8 percent, to $45.52 a barrel in New York. Brent crude, the standard for international oils, fell $2.41, or 4.7 percent, to $48.38 a barrel in London. Oil has fallen to its lowest price since November as investors wonder if the OPEC cartel will extend an agreement to cut production and support prices. OPEC nations will discuss that deal later this month.

Exxon Mobil skidded $1.06, or 1.3 percent, to $81.64 and EOG Resources lost $3.16, or 3.4 percent, to $88.60. Chesapeake Energy tumbled 41 cents, or 7.4 percent, to $5.13.

Other parts of the market were quiet. The government will release its monthly jobs report Friday morning, and Warne said the April report may get an outsize level of attention because the previous jobs report was disappointing and the economy didn't grow much in the first quarter.

"A strong jobs report for April would suggest that first quarter's weakness was transitory," she said.

Church & Dwight, which makes Arm & Hammer baking soda, Trojan condoms and OxiClean cleaners, raised its profit estimate after its first-quarter results were better than analysts anticipated. Its stock rose $2.10, or 4.3 percent, to $50.85. Frosted Flakes and Pop Tarts maker Kellogg posted a larger profit than expected and its stock gained $1.46, or 2.1 percent, to $70.40.

The House of Representatives passed a revised bill that would roll back much of the 2010 Affordable Care Act. As currently written, the American Health Care Act would rework subsidies for private insurance, limit federal spending on Medicaid for low-income people, and cut taxes on upper-income individuals used to finance Obama's overhaul.

Bond prices dropped for the second day in a row. The yield on the 10-year Treasury note rose to 2.35 percent from 2.32 percent. That helped bank stocks because it allows them to make bigger profits on loans.

On Wednesday the Federal Reserve left interest rates unchanged, but said it expects the economy to recover from its sluggish growth in the first quarter. That's helping bond yields and the dollar because it's a hint the central bank expects to raise rates again soon.

Telecommunications companies slumped after Level 3 Communications and CenturyLink both disappointed Wall Street with their first-quarter results. Level 3 dropped $2.61, or 4.3 percent, to $57.81 and CenturyLink sank $1.68, or 6.6 percent, to $23.74.

In other energy trading, wholesale gasoline lost 5 cents, or 3.4 percent, to $1.48 a gallon. Heating oil gave up 6 cents, or 4.2 percent, to $1.41 a gallon. Natural gas lost 4 cents to $3.19 per 1,000 cubic feet.

Precious metals prices dropped further. Gold sank $19.90, or 1.6 percent, to $1,228.60 an ounce. Silver fell 24 cents, or 1.5 percent, to $16.30 an ounce. Copper lost 3 cents, or 1.3 percent, to $2.51 a pound.

The dollar turned lower and slipped to 112.42 yen from 112.64 yen. The euro rose to $1.0981 from $1.0906.

The CAC 40 in France rose 1.3 percent following a debate French presidential candidates Emmanuel Macron and Marine Le Pen. Macron has a large lead in the polls ahead of Sunday's vote. He is perceived to be more business-friendly and is an advocate of France's continued use of the euro and membership of the European Union. That helped send the euro higher Thursday.

Germany's DAX rose 1 percent and the FTSE 100 index in Britain added 0.2 percent.

The South Korean Kospi added 1 percent and Hong Kong's Hang Seng edged 0.1 percent lower. Japan's market remained closed for a holiday.

 

[bigdog]

http://www.wflx.com/story/35352654/after-jobs-report-a-late-push-takes-stocks-to-new-records

After jobs report, a late push takes stocks to new records

By MARLEY JAY
AP Markets Writer

NEW YORK (AP) - A solid pickup in hiring last month helped push the stock market to record highs Friday. The gains were driven by energy, technology and industrial companies.

The Labor Department told investors what they had hoped to hear: employers added more workers last month after a sluggish beginning to the year.

Energy companies rose as the price of oil recovered from losses earlier in the week. Media companies like CBS and Charter Communications recovered from their losses earlier in the week. Technology companies rose, but IBM missed out after billionaire investor Warren Buffett said he sold a large part of his stake in the company.

After a quiet morning, stocks rose in the afternoon and the S&P 500 finished above the all-time high close it set March 1.

Scott Wren, senior global equity strategist at Wells Fargo's Investment Institute, said stocks benefited from the combination of greater hiring and slower wage growth because if wages rise too quickly it will affect corporate profits.

"The market is likely to be concerned about wage gains and the impact on corporate margins as we move into 2018," he said.

The Standard & Poor's 500 index climbed 9.77 points, or 0.4 percent, to 2,399.29. The Dow Jones industrial average rose 55.47 points, or 0.3 percent, to 21,006.94.

The Nasdaq composite jumped 25.42 points, or 0.4 percent, to 6,100.76, which beat a record it set earlier this week. The Russell 2000 index of smaller-company stocks added 8.15 points, or 0.6 percent, to 1,397.

Employers in the United States added 211,000 jobs in April, according to the Labor Department. That comes after slow hiring over the first three months of the year and sluggish economic growth.

Energy companies bounced back as the price of oil steadied. After two steep losses in three days, benchmark U.S. crude oil jumped 70 cents, or 1.5 percent, to $46.22 a barrel in New York. Brent crude, the standard for international oil prices, added 72 cents, or 1.5 percent, to $49.10 barrel in London. Oil prices had fallen earlier this week as investors wonder if OPEC will extend a deal that trimmed oil production.

Occidental Petroleum rose $2.38, or 4.1 percent, to $60.40 and Transocean jumped 84 cents, or 8.1 percent, to $11.18. Baker Hughes gained $1.92, or 3.3 percent, to $59.33.

Apple jumped $2.43, or 1.7 percent, to $148.96, another record for the world's most valuable publicly-traded company. That helped tech stocks move higher.

Basic materials makers advanced. Dow Chemical gained $1.67, or 2.7 percent, to $63.09 and gas supplier Praxair rose $3.16, or 2.5 percent, to $129.48. Fertilizer maker CF Industries climbed $1.35, or 5 percent, to $28.42.

CBS announced a bigger profit and more revenue than analysts expected, and its stock gained $1.35, or 2.1 percent, to $65.20. Media companies have struggled the last few days as investors worried about declining cable ad revenue. Charter Communications, Scripps Networks and Tegna all traded higher.

IBM fell after Warren Buffett said he's sold about 25 million shares of the technology and consulting company, about a third of the stake that his Berkshire Hathaway company had owned. Buffett started buying IBM stock in 2011. IBM faces stiff competition from companies including Microsoft and Amazon, which have focused on cloud computing services. IBM reached an all-time high of $215 in early 2013 and closed at $155.05 Friday, down $4, or 2.5 percent.

Cosmetics maker Revlon plunged after its sales in North America fell during the first quarter. That affected all parts of its business, as its consumer and professional divisions both reported smaller profits and lower sales than they did a year ago. Revlon bought Elizabeth Arden in September, and sales for that business were about the same as they had been a year ago. The stock had its worst day since 2008 as it gave up $5.95, or 23.6 percent, to $19.30.

Biotech drug companies slipped. Biogen dropped $6.45, or 2.4 percent, to $262.15 and Incyte sank $2.69, or 2.1 percent, to $122.41. Celgene fell $2.05, or 1.6 percent, also closing at $122.41.

Bond prices held steady. The yield on the 10-year Treasury note remained 2.35 percent. High-dividend stocks did fairly well. Telecommunications companies recovered from a hard loss the day before, and utility companies also rose. Banks traded lower.

Gold dipped $1.70 to $1,226.90 an ounce. The precious metal fell more than 3 percent this week for its biggest decline since right after the presidential election. Silver lost 3 cents to $16.27 an ounce. Copper rose 2 cents to $2.53 a pound.

In other energy trading, wholesale gasoline rose 2 cents to $1.50 a gallon. Heating oil added 2 cents to $1.44 a gallon. Natural gas jumped 8 cents, or 2.5 percent, to $3.27 per 1,000 cubic feet.

The dollar rose to 112.61 yen from 112.42 yen. The euro climbed $1.0990 from $1.0981.

France's CAC 40 jumped another 1.1 percent as investors hoped centrist candidate Emmanuel Macron will be elected president over the weekend. The CAC 40 is at its highest level since early 2008. Britain's FTSE 100 was up 0.7 percent and Germany's DAX added 0.5 percent. The Hang Seng in Hong Kong lost 0.8 percent. Markets in Japan and South Korea were closed for holidays.

 

[bigdog]

https://www.nytimes.com/aponline/2017/05/08/world/europe/ap-financial-markets.html

All Is Calm: US Stock Indexes Nudge Again to Record Highs
By THE ASSOCIATED PRESS

NEW YORK — A turn higher in the last few minutes of trading was enough to nudge U.S. indexes to more record highs Monday as fear seemed to drain out of the market.

Trading was remarkably calm following the weekend's presidential election in France, which had the potential to upset global markets. The candidate who was in favor of keeping France in the European Union and in the euro currency won, to the relief of investors who feared the alternative would have hurt global trade. That helped calm markets enough that an index used to measure the market's fear level dropped to its lowest level since 1993.

The Standard & Poor's 500 index wafted up and down through the day before ending at 2,399.38, up by just 0.09 points. The Dow Jones industrial average likewise edged up a fraction of a percent, adding 5.34 points to 21,012.28.

The Nasdaq composite rose 1.90 points, or less than 0.1 percent, to 6,102.66. Small-company stocks fell, and the Russell 2000 index lost 5.36, or 0.4 percent, to 1,391.64.

Continue reading the main story


Markets around the world have been tearing higher in recent weeks, due in part to excitement about the French election and strong earnings reports from U.S. companies.

"Corporate earnings have been phenomenal, the best quarter in five years," said Phil Orlando, chief equity strategist at Federated Investors. "The earnings recession that was about seven or eight quarter long is definitively behind us. It's over."

More than 80 percent of companies in the S&P 500 have reported their results for the first three months of the year, and most have topped analysts' expectations. With the U.S. job market continuing to improve, along with economies around the world, Orlando says he expects profits to keep rising through the year. That has him, unlike market critics, not worried that stocks have grown too expensive relative to their profits, and he expects further gains.

"Everyone is starting to get a little more confident now," he said.

Confidence has grown enough that the VIX volatility index on Monday sank to its lowest level since 1993. The VIX measures how much investors are paying to protect themselves from upcoming swings in the S&P 500, and it has been on a general trend downward since shortly before Election Day.

Newell Brands jumped to the largest gain in the S&P 500 Monday after reporting stronger revenue and profit for its latest quarter than analysts expected. The company, whose brands include Paper Mate, Sharpie and Calphalon, also raised its earnings forecast for the year. Shares jumped $5.54, or 11.9 percent, to $51.93.

Kate Spade surged $1.41, or 8.3 percent, to $18.38 after agreeing to a $2.4 billion buyout by Coach, its rival in the luxury goods market. Coach will pay $18.50 per share for Kate Spade.

Often when companies announce takeovers, the purchaser will see its share price drop on worries that it paid too much or pursued an ill-fitting deal. But Coach rose $2.05, or 4.8 percent, to $44.71.

 

[bigdog]

https://finance.yahoo.com/m/1a0d111b-74df-3131-8991-1eed577da17f/ss_nasdaq-sets-another-record;.html

Nasdaq sets another record; energy stocks hold back S&P 500

STAN CHOE

NEW YORK (AP) — The Nasdaq composite index ticked higher to another record Tuesday, but a drop by energy stocks held other indexes back.

It was the third straight day that the Nasdaq notched an all-time high, but each of those has been by only a marginal amount. Stocks have been stuck in a largely listless trading pattern in recent weeks, as investors see few reasons to make big moves in either direction.

The Nasdaq rose 17.93 points, or 0.3 percent, to 6,120.59. The Standard & Poor's 500 index bobbed around its own record through the day, before losing momentum in the last half hour. It slipped 2.46 points, or 0.1 percent, to 2,396.92.

The Dow Jones industrial average fell 36.50 points, or 0.2 percent, to 20,975.78, and the Russell 2000 index of smaller stocks ticked up by 0.22 points, or less than 0.1 percent, to 1,391.86.

Markets have been placid the last two weeks, and the biggest one-day move for the S&P 500 during that span has been 0.6 percent, as investors keep crossing off reasons to fear. Last week's solid jobs report gave reassurance that the U.S. economy is improving despite a weak showing at the start of the year.

Companies have been turning in a series of stronger-than-expected profit reports, which has tempered concerns that stocks have grown too expensive relative to earnings. And the recent presidential election in France raised confidence that voters may be turning their back on a nationalistic brand of politics that could hurt global trade.

"This is almost like the post-celebration letdown," said Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management. "Everyone is just relaxing, trying to figure out what direction to go next."

It could stay that way for a few days, unless something unexpected happens to knock the market out of its lazy drift, with few events on the calendar with market-moving potential.

"We're in a little bit of a lull here, and I think traders are thinking it's like a Seinfeld episode where it's all about nothing," Jacobsen said.

The day's biggest excitement involved energy stocks, which deepened their losses for the year. Energy stocks in the S&P 500 lost 0.9 percent, tied for most among the 11 sectors that make up the index. They're now down 10.8 percent for 2017, when the S&P 500 is up 7.1 percent.

The sector followed the price of oil lower. Benchmark U.S. crude fell 55 cents to settle at $45.88 per barrel. Brent crude, the international standard, fell 61 cents to $48.73 per barrel.

High-dividend stocks were also weak. Utilities in the S&P 500 lost 0.9 percent, while telecoms fell 0.6 percent.

Demand has dulled for high income-paying stocks as bonds have begun to pay more in interest. The yield on the 10-year Treasury note held steady at 2.39 percent Tuesday, but it's up from a low of 2.17 percent three weeks ago.

Marriott International jumped $6.13, or 6.4 percent, to $102.50 after reporting stronger-than-expected earnings for the latest quarter. The hotel operator cited improving trends around the world, from North America to Europe to Asia.

Hertz Global Holdings sank $2.11, or 14.2 percent, to $12.80 after reporting a larger loss for the last quarter than analysts expected.

European stock markets were mostly higher, and the German DAX rose 0.4 percent. The CAC 40 in France gained 0.3 percent, and the FTSE 100 in London rose 0.6 percent.

Japan's Nikkei 225 index dipped 0.3 percent, while the Hang Seng in Hong Kong jumped 1.3 percent. The South Korean market was closed as voters elected a new president.

The euro fell to $1.0869 from $1.0930 late Monday. The dollar rose to 114.28 Japanese yen from 113.07 yen, and the British pound slipped to $1.2927 from $1.2943.

In the commodities market, natural gas rose 6 cents to $3.23 per 1,000 cubic feet, heating oil fell 1 cent to $1.44 per gallon and wholesale gasoline slipped 3 cents to $1.49 per gallon.

Gold dipped $11.00 to settle at $1,216.10 per ounce, silver fell 19 cents to $16.07 per ounce and copper was close to flat at $2.50 per pound.

 

[bigdog]

https://finance.yahoo.com/m/d4060824-b2b5-3a98-b270-8bd8e8cef628/ss_us-stocks-rise-as-energy.html

US stocks rise as energy companies rally with oil prices

MARLEY JAY

NEW YORK (AP) — Energy companies jumped with the price of oil Wednesday, but overall, stocks finished only slightly higher as a quiet week of trading continued.

The price of U.S. crude oil jumped 3 percent as fuel stockpiles kept shrinking, and that made investors more optimistic about energy company profits. Strong earnings from video game maker Electronic Arts and chipmaker Nvidia helped technology stocks move up. However weak results from Priceline and Disney hurt consumer-focused companies, and health care stocks also stumbled as drug companies fell.

Investors didn't react much to President Donald Trump's surprise decision to fire FBI Director James Comey on Tuesday evening. U.S. stocks also had little reaction to the French presidential election last weekend, although European indexes climbed following the win by centrist candidate Emmanuel Macron.

"It's almost as if the market has become numb," said Julian Emanuel, an equity strategist for UBS. "Investors are interpreting this as more noise."

Emanuel said investors are focused on economic growth and the Trump administration's business-friendly agenda. Until they have a clearer understanding of how well the economy is doing and whether Trump's policies will be implemented, he said investors may just wait and see, in which case stocks will stay in the range they've traded in for the last few months.

The Standard & Poor's 500 index picked up 2.71 points, or 0.1 percent, to 2,399.63, a fraction of a point above the all-time high it set Monday. The Dow Jones industrial average shed 32.67 points, or 0.2 percent, to 20,943.11 as Disney and Boeing slumped. The Nasdaq composite finished at a record for the fourth day in a row as it rose 8.56 points, or 0.1 percent, to 6,129.14. The Russell 2000 index of small-company stocks was up 7.73 points, or 0.6 percent, to 1,399.59.

Oil prices made big gains as reports showed U.S. crude stockpiles dropped by 5.2 million barrels last week. That was bigger than analysts expected. Crude inventories are returning to more normal levels after they swelled to record highs the last few years.

Benchmark U.S. crude surged $1.45, or 3.2 percent, to $47.33 a barrel in New York. Brent crude, the international standard, gained $1.49, or 3.1 percent, to $50.22 a barrel in London

EOG Resources gained $2.90, or 3.2 percent, to $94.54 and Chevron added $1.42, or 1.4 percent, to $106.50.

Crude oil prices have fallen in recent weeks as investors wondered if the members of OPEC and other key oil-producing countries will be able to limit production and support prices. U.S. oil has traded between around $45 and $55 a barrel this year as investors worried about oil prices and profits at energy companies. The S&P 500's energy sector has dropped 10 percent in 2017.

Nvidia advanced $18.35, or 17.8 percent, to $121.29. Nvidia tripled in value in 2016 and had wobbled early this year. Electronic Arts, which makes games including "The Sims" and "Mass Effect," rose $12.15, or 12.7 percent, to $108.16.

Emanuel, of UBS, said investors are rewarding companies that are reporting strong earnings growth but don't depend too much on faster economic growth. That includes technology companies and banks.

Entertainment giant Walt Disney posted lower sales than investors expected and it said profit at its cable networks declined because of programming costs at ESPN remain high. Its stock fell $2.41, or 2.2 percent, to $109.66. Recently Disney stock suffered a five-day losing streak partly brought on by concerns about cable advertising revenue.

Revenue for online booking service Priceline was a bit lower than analysts expected and the company's profit forecast for the current quarter was also disappointing. That sent the stock down $86.72, or 4.5 percent, to $1,824.41. Priceline has soared 44 percent over the last 12 months.

Boeing lost $2.31, or 1.2 percent, to $183.18 after it suspended test flights of its new 737 Max plane because of possible problems with a key engine part. The Max is designed to be a more fuel-efficient version of the 737, Boeing's most popular commercial plane.

Online review website Yelp plunged after it slashed its revenue forecast for the year. That followed a disappointing first-quarter report, and analysts said the company struggled to retain customers. The stock sank $6.37, or 18.4 percent, to $28.33 to reach its lowest price in almost a year.

Watchmaker Fossil tumbled after another weaker-than-expected quarterly report. The company said sales of traditional watches and other jewelry continued to fall. The stock fell $3.71, or 20.4 percent, to $14.44. The stock traded above $100 a share as recently as December 2014 but has been trading at eight-year lows.

Bond prices rose early but later returned that gain. The yield on the 10-year Treasury note remained at 2.41 percent.

In other energy trading, wholesale gasoline rose 5 cents to $1.54 a gallon. Heating oil added 3 cents to $1.48 a gallon. Natural gas climbed 7 cents to $3.29 per 1,000 cubic feet.

Gold inched up $2.80 to settle at $1,218.90 an ounce. Silver rose 14 cents to $16.21 an ounce. Copper was unchanged at $2.49 a pound.

The dollar rose to 114.33 yen from 114.28 yen. The euro dipped to $1.0862 from $1.0869.

In Britain, the FTSE 100 jumped 0.6 percent. Germany's DAX rose 0.1 percent and the CAC 40 in France finished unchanged. The Japanese Nikkei 225 gained 0.3 percent and Hong Kong's Hang Seng index rose 0.5 percent. The Kospi of South Korea fell 1 percent.

 

[bigdog]

http://www.wpxi.com/news/us-stocks-slide-in-early-trading-oil-heads-higher/521573739

Disappointing retail earnings drag on US stocks; oil rises
by: ALEX VEIGA, AP Business Writer

Disappointing quarterly results from Macy's, Kohl's and other big department store chains put investors in a selling mood Thursday, sending U.S. stocks modestly lower.

Stocks in the consumer discretionary sector, which includes many retailers, slumped the most. Macy's plunged 14 percent. Kohl's, Dillard's and Nordstrom also fell sharply.

"Those retail numbers are weighing on the market," said Quincy Krosby, market strategist at Prudential Financial. "Macy's (results) came in well below what the market had expected and that has basically put a cloud over the brick-and-mortar retail across the board."

Banks and real estate companies were also big decliners. Consumer goods, health care and utilities stocks eked out small gains. Three stocks fell for every two that rose on the New York Stock Exchange. Oil prices rose.

The Standard & Poor's 500 index fell 5.19 points, or 0.2 percent, to 2,394.44. The Dow Jones industrial average lost 23.69 points, or 0.1 percent, to 20,919.42. The Nasdaq composite declined 13.18 points, or 0.2 percent, to 6,115.96, a day after closing at another all-time high.

Small-company stocks fell more than the rest of the market. The Russell 200 index dropped 9.39 points, or 0.7 percent, to 1,390.20.

Only the Nasdaq is on track to end the week with a gain.

The disappointing earnings from retailers set the major stock indexes on a downward trajectory early on Thursday.

Macy's tumbled 17 percent after its results fell short of Wall Street's forecasts. The stock was the biggest decliner in the S&P 500, sliding $4.99 to $24.35.

Dillard's and Kohl's reported revenue that was below what analysts were expecting. Dillard's slumped $10.13, or 17.5 percent, to $47.77. Kohl's fell $3.16, or 7.8 percent, to $37.16.

Shares in Nordstrom also declined, sliding $3.80, or 7.6 percent, to $46.21. The department store chain reported its results after the close of regular trading.

"It's definitely a discouraging sign, the reports we got from Macy's and Kohl's," said Lindsey Bell, investment strategist at CFRA. "The retailers that are more levered to apparel are going to have a tough quarter."

J.C. Penney is due to report quarterly results on Friday. Wal-Mart Stores, Target, Home Depot and other big retailers do so next week.

Despite the sluggish results from some department store chains, corporate results for the first three months of the year have been mostly positive. With about 89 percent of companies in the S&P 500 index having reported results so far, 51 percent have turned in better-than-expected earnings and revenue, according to CFRA Research. Technology, financials and materials companies have posted the biggest earnings growth.

The parent company of Snapchat was also among the big movers Thursday. Snap plunged 21.5 percent a day after it reported a huge loss. The stock slid $4.93 to $18.05.

Investors also sold off shares in Straight Path Communications after a bidding war between AT&T and Verizon Communications to acquire the wireless licenses company ended. Verizon will acquire Straight Path in an all-stock deal valued at about $3.1 billion. Shares in Straight Path gave up $45.68, or 20.4 percent, to $178.11. Verizon fell 36 cents to $46.02.

Shares in Interexon surged 20.8 percent after the biotechnology company's quarterly revenue exceeded Wall Street's expectations. The stock gained $4.06 to $23.62.

Bond prices rose. The yield on the 10-year Treasury note slipped to $2.39 percent from 2.41 percent late Wednesday.

Benchmark U.S. crude oil rose 50 cents, or 1.1 percent, to settle at $47.83 per barrel in New York after surging $1.45 on Wednesday. Brent crude, the international standard, added 55 cents, or 1.1 percent, to close at $50.77 per barrel in London. In other energy trading, wholesale gasoline rose 2 cents to $1.56 a gallon. Heating oil added 1 cent to $1.49 a gallon. Natural gas climbed 8 cents, or 2.6 percent, to $3.38 per 1,000 cubic feet.

Among metals, gold inched up $5.30 to settle at $1,224.20 an ounce. Silver rose 6 cents to $16.21 an ounce. Copper gained a penny to $2.50 a pound.

In currency trading, the dollar fell to 113.84 yen from 114.33 yen on Wednesday. The euro strengthened to $1.0863 from $1.0862.

Major stock indexes in Europe closed mostly lower. Germany's DAX fell 0.4 percent, while France's CAC 40 edged down 0.3 percent. Britain's FTSE shed early gains to end flat. In Asia, indexes notched gains. Japan's Nikkei 225 rose 0.3 percent, while South Korea's Kospi jumped 1.2 percent. Hong Kong's Hang Seng index added 0.4 percent.

 

[bigdog]

https://www.usnews.com/news/busines...epartment-stores-drags-us-stock-indexes-lower

S&P 500 Index Slips, Posts Its First Down Week in a Month
Shares of department stores sank again Friday, hurt by more evidence that shoppers are turning away from them.

By STAN CHOE, AP Business Writer

NEW YORK (AP) — Shares of department stores sank again Friday, hurt by more evidence that shoppers are turning away from them. A drop in Treasury yields also put pressure on bank stocks, and the weakness helped pull the Standard & Poor's 500 index to its first weekly loss in the last four.

The S&P 500 dipped 3.54 points, or 0.1 percent, to close at 2,390.90, part of a 0.3 percent loss for the week. The index is still within half a percent of its record, though, and the market continues to make only modest moves through what's become a weekslong, peaceful lull.

The Dow Jones industrial average fell 22.81 points, or 0.1 percent, to 20,896.61, and the Nasdaq composite rose 5.27 points, or 0.1 percent, to 6,121.23. Small-company stocks fell more than the rest of the market. The Russell 2000 index lost 7.43 points, or 0.5 percent, to 1,382.77.

The biggest loss in the S&P 500 came from Nordstrom, which plunged $5.01, or 10.8 percent, to $41.20 after it said a key sales figure weakened last quarter by more than analysts expected. Nordstrom joined a long list of other department-store chains that have reported discouraging results recently, as their customers increasingly head online.

J.C. Penney fell 74 cents, or 14 percent, to $4.55 after it reported a loss for its latest quarter and weaker revenue than analysts expected.

The broader market, though, was much more pacific. It was the 13th straight day that the S&P 500 moved by less than 0.5 percent, the longest such streak since 1995.

"It's extremely calm, which always makes us a little nervous," said Eric Marshall, portfolio manager at Hodges Capital Management. "We're in a very narrow market and a very thin market: It's hard to buy things, and it's hard to sell things because the amount of trading volume out there has slowed down in recent weeks."


The market has grown sleepier as companies have reported stronger-than-expected profits and as encouraging data lifted optimism about the global economy. The calmness also comes despite a spate of political jolts, including concerns about how successful Republicans in Washington will be at pushing through the pro-business changes that many investors are expecting.

A government report on Friday showed that shoppers picked up their spending at auto dealers, hardware stores and online shops last month, and retail sales rose 0.4 percent from March. That was below economists' expectations, but it's an acceleration from weak levels registered earlier in the year. It also may be an indication that the economy will indeed pick up from its early-year torpor, as many economists predict.

Consumer prices also picked up a bit of momentum in April. Prices rose 0.2 percent last month, following a drop of 0.3 percent in March, as energy prices climbed higher. But after excluding energy and food prices, inflation was weaker last month than economists were expecting.

The Federal Reserve is paying close attention to inflation as it raises interest rates off their record lows, particularly where it is after excluding energy and food prices, which can be volatile.

Bond yields dropped as Treasury prices rose. The yield on the 10-year Treasury fell to 2.32 percent from 2.40 percent late Thursday. The two-year yield dropped to 1.28 percent from 1.34 percent, and the 30-year yield fell to 2.99 percent from 3.03 percent.

Bank stocks have recently been trading in the opposite direction of Treasury yields, because a pickup in interest rates would allow banks to make bigger profits from making loans.


Financial stocks in the S&P 500 fell 0.5 percent, second-most among the 11 sectors that make up the index.

On the winning side were utilities, whose relatively big dividends look more attractive when bonds are paying less in interest.

In European markets, the French CAC 40 rose 0.4 percent, the German DAX gained 0.5 percent and the FTSE 100 in London picked up 0.7 percent. In Asia, Japan's Nikkei 225 fell 0.4 percent, South Korea's Kospi fell 0.5 percent and the Hang Seng in Hong Kong ticked up by 0.1 percent.

Benchmark U.S. crude oil rose a penny to settle at $47.84 a barrel. Brent crude, the international standard, rose 7 cents to $50.84 a barrel.

Natural gas rose 5 cents to $3.42 per 1,000 cubic feet, heating oil was close to flat at $1.49 per gallon and wholesale gasoline rose a penny to $1.58 per gallon.

Gold rose $3.50 to settle at $1,227.70 per ounce, silver gained 14 cents to $16.40 per ounce and copper added 2 cents to $2.52 per pound.

The euro rose to $1.0931 from $1.0866 late Thursday. The dollar slipped to 113.29 Japanese yen from 113.88 yen, and the British pound slipped to $1.2886 from $1.2890.

6544

 

[bigdog]

https://finance.yahoo.com/m/2289613...e49b9d1/ss_oil's-well:-rising-energy.html

Oil's well: Rising energy stocks help send S&P 500 to record

STAN CHOE

NEW YORK (AP) — A spurt in oil prices on Monday revived energy stocks, which have been among the year's worst performers, and helped push the broader market back to record highs.

The Standard & Poor's 500 index climbed 11.42 points, or 0.5 percent, to 2,402.32, edging past its prior record set last week.

The Dow Jones industrial average gained 85.33 points, or 0.4 percent, to 20,981.94, the Nasdaq composite gained 28.44, or 0.5 percent, to 6,149.67 and the Russell 2000 index of smaller stocks rose 11.15 points, or 0.8 percent, to 1,393.92.

Energy stocks helped lead the way after the price of oil jumped on expectations that the global glut of crude may ease.

A wide group of oil-producing countries has already cut production in hopes of supporting the price of oil, and Russia and Saudi Arabia said they want to extend the cuts through the first three months of 2018. Benchmark U.S. crude rose $1.01, or 2.1 percent, to settle at $48.85 per barrel. Brent crude, the international standard, rose 98 cents to $51.82 a barrel.

The price of oil has swung sharply in recent years, from more than $100 three years ago to less than $30 last year, as concerns wax and wane that supplies will overwhelm demand.

Monday's rise for crude helped oilfield services provider Halliburton jump $1.37, or 3 percent, to $46.51 for one of Monday's biggest gains in the S&P 500. Energy companies across the index rose 0.6 percent.

Companies that produce metals and other basic materials, along with financial stocks, were also strong.

The day's rally continued a calm push higher for stocks in recent weeks. Markets around the world have been making modest, methodical gains as investors shrug off a long list of potential concerns.

South Korean stocks rose Monday even after North Korea launched a missile over the weekend and its leader promised more missile tests. The worldwide "ransomware" cyberattack continued to spread on Monday, which sent cybersecurity stocks like FireEye and Symantec higher, while politicians in Washington wonder whether Republicans' odds of implementing tax cuts and other pro-business policies have diminished.

For the most part, signs of a strengthening global economy and improving corporate profits have been enough to allay investors' fears and push markets to new heights. Profits have been rallying not only in the United States but also in Europe and other areas that have been struggling for years.

The recent run of calmness is a sharp turnaround from the start of last year, when twitchy investors were quick to sell on worries about the global economy.

"We do really see this prevailing sense of complacency," said Jon Adams, senior investment strategist at BMO Global Asset Management. "I don't think we see any dark clouds on the horizon, but I wouldn't be surprised to see a 5 to 10 percent drawdown from now to year-end."

Adams expects corporate profits to keep improving, which should help support stocks, but he points to several events that could jolt markets. Besides the uncertainty about what will happen on the Korean peninsula or in Washington, upcoming elections in the United Kingdom, France and potentially Italy could also upset what's become a lazy ride for markets.

In Europe, France's CAC 40 rose 0.2 percent, Germany's DAX index gained 0.3 percent and the FTSE 100 in London rose 0.3 percent. In Asia, Japan's Nikkei 225 stock index slipped 0.1 percent, and Hong Kong's Hang Seng index added 0.9 percent. South Korea's Kospi index rose 0.2 percent.

In the commodities markets, the price of gold rose $2.30 to settle at $1,230 per ounce, silver rose 20 cents to $16.60 per ounce and copper gained nearly 2 cents to $2.54 per pound.

Natural gas fell 8 cents to $3.35 per 1,000 cubic feet, heating oil rose 2 cents to $1.51 per gallon and wholesale gasoline climbed 2 cents to $1.60 per gallon.

The euro rose to $1.0978 from $1.0924 late Friday. The dollar rose to 113.68 Japanese yen from 113.41 yen, and the pound rose to $1.2895 from $1.2879.

The 10-year Treasury yield ticked up to 2.34 percent from 2.33 percent late Friday. The two-year yield rose to 1.30 percent from 1.29 percent, while the 30-year yield rose to 3.01 percent from 2.99 percent.

 

[bigdog]

https://www.usnews.com/news/busines...-stocks-waver-in-early-trading-on-wall-street

US Stock Indexes End Mostly Lower; Nasdaq Notches New High

A subdued day of trading on Wall Street ended with stocks closing mostly lower even as the Nasdaq composite notched another record high.

By ALEX VEIGA, AP Business Writer

A subdued day of trading on Wall Street ended Tuesday with stocks closing mostly lower even as the Nasdaq composite notched another record high.

Utilities, phone companies and other high-dividend paying stocks were among the biggest decliners. Energy stocks also fell along with a drop in the price of crude oil. Technology companies climbed the most. Financials also eked out a small gain.

Investors sized up the latest crop of company earnings and new data on home construction and industrial production.

"The economic data that we've seen today is sort of what we've seen the last few weeks, some good, some bad," said Jim Davis, regional investment strategist at the Private Client Group at U.S. Bank.

The Standard & Poor's 500 index dipped 1.65 points, or 0.1 percent, to 2,400.67. The Dow Jones industrial average slid 2.19 points, or 0.01 percent, to 20,979.75. The Nasdaq gained 20.20 points, or 0.3 percent, to 6,169.87. The tech-heavy index and the S&P 500 each hit new highs on Monday.

The Russell 2000 index of smaller stocks rose 0.76 points, or 0.1 percent, to 1,394.68. More stocks fell than rose on the on the New York Stock Exchange.

The stock indexes headed higher early Tuesday, but spent much of the day trading in a narrow range, wavering between small gains and losses.

The Federal Reserve provided some positive economic news, reporting that industrial production at U.S. factories, mines and utilities shot up 1 percent in April from March. That's the biggest gain since February 2014 and the third straight monthly gain. The increase was more than twice what economists had expected.

A separate report on residential construction was less encouraging.


The Commerce Department said home construction fell for a second straight month in April, marking the slowest pace in five months. Housing starts slid 2.6 percent to a seasonally adjusted annual rate of 1.17 million units. The weakness was led by a big drop in construction of apartments, a volatile sector.

While disappointing, the report didn't appear to weigh much on the market. Most homebuilders closed higher, led by LGI Homes, which rose $1.26, or 3.9 percent, to $33.95.

Traders also had their eye on the latest crop of quarterly results from companies.

Home Depot got a small boost after topping expectations for profit and revenue in the first quarter. The home-improvement retailer also raised its profit outlook for the year. The stock gained 93 cents, or 0.6 percent, to $158.26.

"Home-improvement and beauty retailers are really where the strength is within the retail sector, and of course, online," said Lindsey Bell, investment strategist at CFRA.

Among the other big movers that reported improved quarterly report cards Tuesday: Online and mobile media services company Sina jumped $15, or 17.8 percent, to $99.04.

Several companies that delivered disappointing results fell sharply.

Dick's Sporting Goods slumped $6.53, or 13.7 percent, to $41.04, while apparel and home fashions retailer The TJX Cos. slid $3.14, or 4.1 percent, to $73.76.

Staples also gave up 3.5 percent after the office supply chain reported revenue for the latest quarter that fell far short of what Wall Street analysts were expecting. The stock lost 33 cents to $8.99.

News that two private equity firms disclosed a combined 8 percent stake in Etsy sent shares in the online crafts site sharply higher. The stock climbed $2.41, or 21.3 percent, to $13.73.


Chipmaker Advanced Micro Devices was the biggest gainer in the S&P 500, surging $1.33, or 11.7 percent, to $12.75.

Energy prices declined Tuesday, giving back some of the gains from a day earlier on news that a group of oil-producing countries had cut production in hopes of supporting the price of oil.

Benchmark U.S. crude slipped 19 cents to close at $48.66 a barrel in New York. Brent crude, used to price international oils, lost 17 cents to settle at $51.65 a barrel in London.

The price of oil has swung sharply in recent years, from more than $100 three years ago to less than $30 last year, as concerns rise and fall that supplies will overwhelm demand.

In other futures trading, natural gas fell 12 cents, or 3.6 percent, to $3.23 per 1,000 cubic feet. Heating oil rose 1 cent to $1.52 per gallon, while wholesale gasoline added 1 cent to $1.60 per gallon.

The price of gold rose $6.40 to settle at $1,236.40 per ounce. Silver added 13 cents to $16.69 per ounce. Copper gained 1 cent to $2.55 per pound.

In currency trading, the dollar declined to 113.03 yen from Monday's 113.68 yen. The euro gained to $1.1095 from $1.0978.

Bond prices rose. The 10-year Treasury yield fell to 2.33 percent.

Major stock indexes in Europe were mixed. Germany's DAX was flat, while France's CAC-40 was down 0.2 percent. London's FTSE 100 rose 0.9 percent. In Asia, Tokyo's Nikkei 225 rose 0.2 percent and Seoul's Kospi added 0.2 percent. Hong Kong's Hang Seng shed 0.1 percent.