NYSE Dow Jones finished today at:

[Aussiejeff]

"UBS, one of Europe's biggest banks, said it will issue up to $15 billion in new stock and that its chairman, Marcel Ospel, had quit. Investors chose to look past the bank's announcement that it will take a fresh $19 billion write-down due to additional declines in the value of its mortgage assets and other credit instruments, following an $18 billion write-down last year. Its shares surged $4.21, or 14.6 percent, to $33.01 in trading on the New York Stock Exchange.

Lehman Brothers, dogged by speculation it might reveal losses big enough to cripple the company, on Tuesday raised $4 billion of capital to stymie questions about its financial stability. Lehman rose $6.70, or 17.8 percent, to $44.34.

I find it interesting how the US market has somehow managed the best start to a 2nd quarter since 1938 on the back of two big world banks clearly in financial trouble issuing bucket loads of extra shares to try and shore up their liquidity. Usually, when companies in financial trouble are forced to issue a heap of new stock, the share price would DROP in the short term at least .... but not this time. I'd be interested in comments on that aspect of this "rally" or "bounce".

I find it particularly curious that "UBS investors chose to look past the bank's announcement that it will take a fresh $19 billion write-down due to additional declines in the value of its mortgage assets and other credit instruments, following an $18 billion write-down last year". Surely, all this new issued stock must water down the intrinsic value of existing shares?



AJ

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

Wall Street turned lower Wednesday as investors worried that a sharp jump in oil prices could be another sign that consumers are under stress in an economy that is already showing signs of a recession.

The NYSE DOW closed LOWER by -48.53 points -0.38% on Wednesday April 2

Sym Last........ ........Change..........
Dow 12,605.83 -48.53 -0.38%
Nasdaq 2,361.40 -1.35 -0.06%
S&P 500 1,367.53 -2.65 -0.19%
10 Yr Bond(%) 3.5830% +0.0380

Overseas
Tokyo's Nikkei index closed up 4.21 percent. There were gains in European stocks too -- London's FTSE 100 rose 1.08 percent, Frankfurt's DAX advanced 2.84 percent and Paris' CAC 40 gained 0.94 percent
Europe
Symbol... Last...... .....Change.......
FTSE 100 5,915.90 +63.30 +1.08%
DAX 6,777.44 +57.11 +0.85%
CAC 40 4,911.97 +45.97 +0.94%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 13,189.36 +532.94 +4.21%
Hang Seng 23,872.43 +734.97 +3.18%
Straits Times 3,344.53 +3,344.53 +2.56%

http://biz.yahoo.com/ap/080402/wall_street.html
Wall Street Pulls Back As Oil Spikes
Wednesday April 2, 5:22 pm ET
By Joe Bel Bruno, AP Business Writer
Stocks Decline As Oil Price Spike Causes Worries About Consumer Spending, Economy

NEW YORK (AP) -- Wall Street turned lower Wednesday as investors worried that a sharp jump in oil prices could be another sign that consumers are under stress in an economy that is already showing signs of a recession.

The major indexes, which spent most of the session in a tight trading range, tumbled after oil prices shot higher in response to the Energy Department's report of an unexpected jump in gasoline demand. That could lead to higher prices at the pump, a troublesome trend given that retail gas prices are expected to rise further as the summer approaches and put more financial pressure on consumers.

Consumer spending, which makes up about two-thirds of the U.S. economy, is watched closely by the Federal Reserve. Earlier Wednesday, Fed Chairman Ben Bernanke said he expects the economy to contract in the first half -- a trend that would mean the U.S. is in a recession.

Crude oil rose $3.85 to settle at $104.83 a barrel on the New York Mercantile Exchange.

"The oil uptick took away some of the optimism that we've seen recently," said Richard Cripps, chief market strategist for Stifel Nicolaus. "Higher gasoline price would mean less in the pocket for Americans, and there's also continued worries about a recession."

The credit crisis and weak economy have sent stocks tumbling over the past six months. But the market had shown some renewed confidence that the worst of the credit problems might be behind Wall Street; that upbeat sentiment sent stocks up nearly 400 points on Tuesday, the first day of the second quarter.

Some of the pullback late Wednesday also was pinned on profit taking after that big advance.

The Dow Jones industrials fell 48.53, or 0.38 percent, to 12,605.83 after changing direction several times.

Broader market indexes also fell. The Standard & Poor's 500 index fell 2.65, or 0.19 percent, to 1,367.53 while the Nasdaq composite index fell 1.35, or 0.06 percent, to 2,361.40.

Treasury bonds moved slightly lower as investors weighed Bernanke's testimony before Congress; fixed income investors were focused on hints from Bernanke that the central bank might be less aggressive about lowering interest rates. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.59 percent from late Tuesday's 3.55 percent.

The dollar was mixed against other major currencies, while gold fell slightly.

Investors paid close attention to what Bernanke had to say about a number of problems facing the economy -- including tightening credit markets, a slumping housing market, and the near collapse of investment bank Bear Stearns Cos. Stocks initially rose after the Fed chairman said he doesn't believe the nation's big investment banks face the possibility of a collapse.

And, his warning about a potential recession was really not a shock to investors who trudged through one of the more difficult first quarters in years. Kim Caughey, equity research analyst at Fort Pitt Capital Group, said she didn't believe Bernanke had "anything new to say" and was simply reiterating previous thoughts.

"This is evidence that he is being more transparent -- there are no big bombs dropping during congressional testimony," she said.

Though numerous economists have said they believe a recession is under way, Fed officials generally are cautious when describing the economy. A recession consists of at least two consecutive quarters of economic contraction and can only be declared in hindsight.

Bernanke also outlined some of the steps taken in the past few weeks to help boost the financial positions of the nation's biggest investment banks. He offered that a failure of Bear Stearns would have been difficult to contain, and that was one reason why the central bank helped arrange the investment bank's sale to JPMorgan Chase.

JPMorgan Chase fell 38 cents to $46.24, while Bear Stearns rose 1 cent to $10.86.

Richard Sparks, a senior equities analyst at Schaeffer's Investment Research, called Wednesday's market performance "a breather." He said stocks might begin to percolate higher if first-quarter earnings come in better than expected, and should the credit markets remain stable.

"The market did a lot of work (Tuesday) -- it makes sense that it needs a bit of a rest here before resuming on, if it can," he said.

Investors also weighed fresh economic data that indicated factory orders in the U.S. have fallen for a second straight month. The Commerce Department said orders dropped by 1.3 percent in February, about double the downturn that economists had been expecting.

In corporate news, Best Buy Co. said its fourth-quarter profit slipped 3 percent as customer traffic slowed after the holidays. But, the electronics retailer still beat Wall Street estimates, and shares rose 47 cents to $43.94.

The Russell 2000 index of smaller companies rose 1.62, or 0.23 percent, to 712.27.

Advancing issues barely outpaced decliners on the New York Stock Exchange, where volume came to a light 1.44 billion shares compared to 1.85 billion on Tuesday.

Overseas, Tokyo's Nikkei index closed up 4.21 percent. There were gains in European stocks too -- London's FTSE 100 rose 1.08 percent, Frankfurt's DAX advanced 2.84 percent and Paris' CAC 40 gained 0.94 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html


Stocks managed to notch a modest gain Thursday, with Wall Street cautious ahead of Friday's jobs report but hopeful that the global financial system is on the mend.

The NYSE DOW closed HIGHER by +20.20 points +0.16% on Thursday April 3

Sym Last........ ........Change..........
Dow 12,626.03 +20.20 +0.16%
Nasdaq 2,363.30 +1.90 +0.08%
S&P 500 1,369.31 +1.78 +0.13%
30-yr Bond 4.3870% 0.0000

NYSE Volume 3,826,287,0
Nasdaq Volume 1,993,451,750

Overseas
Tokyo's Nikkei index closed 1.52 percent higher, while London's FTSE fell 0.42 percent, Frankfurt's DAX lost 0.53 percent and Paris' CAC 40 slid 0.49 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,891.30 -24.60 -0.42%
DAX 6,741.72 -35.72 -0.53%
CAC 40 4,887.87 -24.10 -0.49%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 13,389.90 +200.54 +1.52%
Hang Seng 24,264.63 +392.20 +1.64%
Straits Times 3,171.55 +46.94 +1.50%

http://biz.yahoo.com/ap/080403/wall_street.html
Stocks Higher After Bernanke Testimony
Thursday April 3, 4:41 pm ET
By Madlen Read, AP Business Writer
Stocks Up After Comments From Fed Chairman, Merrill CEO Revive Confidence About Credit Markets

NEW YORK (AP) -- Stocks managed to notch a modest gain Thursday, with Wall Street cautious ahead of Friday's jobs report but hopeful that the global financial system is on the mend.

Federal Reserve Chairman Ben Bernanke told Congress Thursday the Fed expects to recover most, if not all, the $29 billion worth of loans it made to keep struggling Bear Stearns Cos. from collapse. Bernanke's remarks, in which he defended the central bank's decision to aid JPMorgan Chase & Co.'s buy of Bear Stearns, were calming to investors hoping that demand is returning to the tight credit markets.

John Thain, the chief executive of Merrill Lynch & Co., also lent some solace to the market after telling Japanese financial newspaper The Nikkei that the investment bank has sufficient cash and will not need to raise more.

The stock market has been performing well recently due to its newfound confidence about global financial system -- even in the face of poor economic data. Early Thursday, stocks dipped after the Labor Department reported a spike in jobless claims to a level not seen since September 2005.

But the decline was very mild and short-lived -- particularly given the huge advance Wall Street logged Tuesday and has mostly maintained, and the fact that economists expect the government on Friday to report there was a jobs loss in March for the third straight month.

"I think that the desire to sell is coming off," said Thomas J. Lee, equities analyst at JPMorgan. The fact that the market has not been shaken by recent disappointing economic data "tells me that the recession is largely discounted."

According to preliminary calculations, the Dow Jones industrial average rose 20.20, or 0.16 percent, to 12,626.03.

Broader stock indicators also edged higher. The Standard & Poor's 500 index rose 1.78, or 0.13 percent, to 1,369.31, and the Nasdaq composite index rose 1.90, or 0.08 percent, to 2,363.30.

The Dow, which shot up nearly 400 points on Tuesday, is up 7.6 percent from its March 10 low, its worst level since October 2006.

"I think we're going to have a big test coming up," Lee said. "Are U.S. stocks poised for another downturn, or are U.S. stocks telling us the worst is behind us?"

With a broad swath of corporate earnings reports set to arrive in the coming weeks, investors appear upbeat. Over the past few weeks, the market has occasionally been knocked lower by disappointing economic readings, particularly on consumers' discretionary spending, but it has ultimately righted itself amid signs that the credit markets are improving.

"You're going to continue to see weak economic data. That doesn't mean stocks are going to come down," said Bill Stone, chief investment strategist for PNC Wealth Management.

Government bonds rose slightly. The yield on the 10-year Treasury note, which moves opposite its price, was at 3.58 percent, down from 3.60 percent late Wednesday.

Crude oil fell $1 to $103.83 a barrel on the New York Mercantile Exchange, after a surge a day earlier on the prospect of climbing demand for gasoline.

The dollar was mixed against other major currencies, while gold rebounded back above $900 an ounce.

The Russell 2000 index of smaller companies rose 1.30, or 0.18 percent, to 713.57.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 1.25 billion shares.

JPMorgan rose 9 cents to $46.28 and Bear Stearns fell 14 cents to $10.72 after each company's chief executive spoke to Congress following Bernanke's testimony. JPMorgan's CEO James Dimon said the bank has borrowed $25 billion so far from the Fed, which last week saw an average $32.9 billion in daily borrowing from financial firms.

In addition to the congressional testimony, investors got a bit of relief from the Institute for Supply Management. The ISM said Thursday the services sector contracted only slightly in March -- a stronger performance than in February, and a better reading than many economists predicted.

In corporate news, Schering-Plough Corp. announced late Wednesday it plans to cut jobs to offset continued sales declines of its cholesterol drug Vytorin. Schering-Plough shares soared $1.52, or 11 percent, to $15.38; they had fallen sharply earlier in the week after news that medical researchers were recommending against use of the drug.

Cisco Systems Inc., meanwhile, dropped 73 cents, or 2.9 percent, to $24.23 due to an analyst downgrade. The analyst cited softening demand, and said the networking equipment maker will have to buy other companies to reach its growth target.

In overseas trading, Tokyo's Nikkei index closed 1.52 percent higher, while London's FTSE fell 0.42 percent, Frankfurt's DAX lost 0.53 percent and Paris' CAC 40 slid 0.49 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The Dow Jones industrial average ended the week up 393.02, or 3.22 percent, at 12,609.42. The Standard & Poor's 500 index finished up 55.18, or 4.20 percent, at 1,370.40. The Nasdaq composite index ended the week up 109.80, or 4.86 percent, at 2,370.98.

The NYSE DOW closed LOWER by -16.61 points -0.13% on Friday April 4

The Dow Jones industrial average slipped 16.61, or 0.13 percent, to 12,609.42, in part because of a decline in General Motors Corp. stock.

Sym Last........ ........Change..........
Dow 12,609.42 -16.61 -0.13%
Nasdaq 2,370.98 +7.68 +0.32%
S&P 500 1,370.40 +1.09 +0.08%
30-yr Bond 4.3180% -0.0690

NYSE Volume 3,674,373,500
Nasdaq Volume 1,981,763,500

Overseas
Japan's Nikkei stock average fell 0.72 percent. Britain's FTSE 100 finished up 0.95 percent, Germany's DAX index rose 0.32 percent, and France's CAC-40 added 0.27 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,947.10 +55.80 +0.95%
DAX 6,763.39 +21.67 +0.32%
CAC 40 4,900.88 +13.01 +0.27%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 13,293.22 -96.68 -0.72%
Hang Seng 24,264.63 +392.20 +1.64%
Straits Times 3,171.55

http://biz.yahoo.com/ap/080404/wall_street.html
Stocks Mostly Rise After Jobs Report
Friday April 4, 5:46 pm ET
By Tim Paradis, AP Business Writer
Most Stocks Up After Report of 80,000 Jobs Lost in March; Some Investors Feared Bigger Decline

NEW YORK (AP) -- Wall Street showed some reassuring signs of stability Friday, closing mostly higher despite the biggest monthly decline in jobs in five years. The major indexes ended the first four sessions of the second quarter with a healthy advance.

While some nervous investors fled to government bonds, the report, showing the economy gave up 80,000 jobs last month, appeared to simply confirm many investors' assumptions of a widespread economic slowdown.

Although the job losses, the most since March 2003, are indeed a significant sign of economic weakness, a lackluster report was widely expected, and some investors were relieved the total was not higher. Thomson/IFR had projected 15,000 jobs were lost in March, but some economists expected 150,000 cuts.

Payrolls for January and February were revised lower by a total of 67,000 and the unemployment rate shot up to 5.1 percent, the highest since September 2005. The economy has given up about 232,000 jobs in the first three months of this year, and the latest report adds fuel to the belief of many economists that the U.S. is already in recession.

"The economic data is negative, but I think what the market's telling us is we've priced in a lot of the bad news already," said Arthur Hogan, chief market strategist at Jefferies & Co. "You could make the argument that we've thrown a lot of difficult news at this market and it's reacted very well."

The market's next big test is likely to come with the release of first-quarter earnings reports in the coming weeks. Investors will be particularly keen to know what companies' outlooks are for the rest of this year -- if they are disappointing, Wall Street could see a return of the punishing volatility of the past few months.

The Dow Jones industrial average slipped 16.61, or 0.13 percent, to 12,609.42, in part because of a decline in General Motors Corp. stock.

Broader stock indicators edged higher. The Standard & Poor's 500 index added 1.09, or 0.08 percent, to 1,370.40, and the Nasdaq composite index advanced 7.68, or 0.32 percent, to 2,370.98.

Though the major indexes showed modest moves, advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to 3.59 billion shares compared with 3.77 billion traded Thursday.

For the second quarter, which began Tuesday, the Dow is up 2.83 percent, the S&P 500 gained 3.61 percent, and the Nasdaq added 4.03 percent. For the entire week, the Dow rose 3.22 percent, the S&P 500 added 4.20 percent and the Nasdaq gained 4.86 percent.

Treasury prices jumped after the jobs report, as investors often seek the safety of government-backed bonds amid uncertainty about the economy. The yield on the benchmark 10-year note, which moves opposite its price, fell to 3.47 percent in late trading from 3.59 percent late Thursday.

The dollar was mixed against other major currencies, while gold prices rose.

Light, sweet crude rose $2.40 to settle at $106.23 a barrel on the New York Mercantile Exchange. Retail gas prices, meanwhile, surged to a new record above $3.30 a gallon, and appear ready to rise further as supplies tighten ahead of the summer driving season.

Investors' assessment of the economy comes after a strong week for Wall Street. Monday brought the welcome end to a downbeat first quarter. While the S&P 500 fell nearly 10 percent during the first three months of the year, stocks had managed to pull off their lows by quarter's end.

On Tuesday, the Dow surged nearly 400 points as investors snapped up shares of financial companies, which have fallen sharply in recent months on concerns about bad debt on balance sheets. The quiet sessions since, including Friday's modest moves in the face of bad economic news, appeared to buoy some hopes that the market is carving a bottom after five months of declines in the S&P.

Friday's advance followed a gentle rise on Thursday in response to Federal Reserve Chairman Ben Bernanke's remarks that the Fed expects to recover most, if not all, the $29 billion worth of loans it made to keep struggling Bear Stearns Cos. from collapse. Bernanke's comments to the Senate Banking Committee, in which he defended the central bank's decision to aid JPMorgan Chase & Co.'s takeover of Bear Stearns, were calming to investors hoping that demand is returning to the tight credit markets.

Other central bankers and business leaders appearing before the committee indicated they were able to avert a financial catastrophe with Bear Stearns sinking quickly toward bankruptcy.

Remarks by Bernanke earlier in the week left the door open to another interest rate cut from the Federal Reserve.

"This (jobs) number still supports the notion that there's likely going to be more monetary policy easing by the Fed," said Michael Strauss, chief economist at Commonfund, noting that investors appear to be considering that the central bank's steps often take time to filter into the economy.

Figures like employment numbers also lag, noted Hogan. "The unemployment rate will go higher before the recession is over," he said. "I think the market is trying to tell us we understand that, we've seen this before"

"I think there are market participants who are looking through the valley and saying they're seeing the other side," he added.

In corporate news, GM fell after a private equity group said it terminated its agreement to invest $2.55 billion in the company's largest auto parts supplier, Delphi Corp., which has been trying to emerge from bankruptcy protection. GM fell $1.01, or 4.7 percent, to $20.58.

On Friday, the Russell 2000 index of smaller companies rose 0.16, or 0.02 percent, to 713.73.

Overseas, Japan's Nikkei stock average fell 0.72 percent. Britain's FTSE 100 finished up 0.95 percent, Germany's DAX index rose 0.32 percent, and France's CAC-40 added 0.27 percent.

Associated Press Business Writer Eileen AJ Connelly in New York contributed to this report.

The Dow Jones industrial average ended the week up 393.02, or 3.22 percent, at 12,609.42. The Standard & Poor's 500 index finished up 55.18, or 4.20 percent, at 1,370.40. The Nasdaq composite index ended the week up 109.80, or 4.86 percent, at 2,370.98.

The Russell 2000 index finished the week up 30.55, or 4.47 percent, at 713.73.

The Dow Jones Wilshire 5000 Composite Index -- a free-float weighted index that measures 5,000 U.S. based companies -- ended Friday at 13,823.80, up 568.66 points, or 4.29 percent, for the week. A year ago, the index was at 14,595.10.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

the Dow Jones industrial average rose 3.01, or 0.02 percent, to 12,612.43, after rising more than 120 points earlier in the day.

The NYSE DOW closed HIGHER by +3.01 points +0.02% on Monday April 7

Sym Last........ ........Change..........
Dow 12,612.43 +3.01 +0.02%
Nasdaq 2,364.83 -6.15 -0.26%
S&P 500 1,372.54 +2.14 +0.16%
30-yr Bond 4.3690% +0.0510

NYSE Volume 3,699,879,500
Nasdaq Volume 1,729,978,875

Overseas
Japan's Nikkei stock average rose 1.18 percent. Britain's FTSE 100 added 1.14 percent, Germany's DAX index rose 0.85 percent, and France's CAC-40 rose 0.89 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,014.80 +67.70 +1.14%
DAX 6,821.03 +57.64 +0.85%
CAC 40 4,944.60 +43.72 +0.89%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 13,450.23 +157.01 +1.18%
Hang Seng 24,578.76 +314.13 +1.29%

http://biz.yahoo.com/ap/080407/wall_street.html
Stocks Finish Mixed Ahead of Earnings
Monday April 7, 4:46 pm ET
By Madlen Read, AP Business Writer
Stocks Narrowly Mixed Ahead of Earnings; Banks Up on Possible $5 Billion Investment in WaMu

NEW YORK (AP) -- Wall Street started the week with a mixed performance Monday, with many investors moving to the sidelines as they wait for quarterly profit reports.

Stocks had popped higher in earlier trading, encouraged by talk of a $5 billion private equity investment in Washington Mutual Inc. The nation's largest thrift is reportedly in discussions with buyout shop TPG Inc. and other investors about selling a stake in itself in return for cash.

But with earnings on tap and the Federal Reserve issuing minutes from its March meeting on Tuesday, the stock market pulled back cautiously.

The broader market started selling off when the Standard & Poor's 500 index began approaching the levels where it stood before Wall Street's massive selloff in early March, noted Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

"When the market closes, first-quarter earnings kick up -- it looks like people are taking money off the table ahead of those," Detrick said. "We had a good rally. We're thinking the next major driver will be those earnings reports."

After trading ended, aluminum maker Alcoa Inc. reported that its net income fell 54 percent in the first quarter compared to the same period a year ago. The results missed analysts' forecasts.

According to preliminary calculations, the Dow Jones industrial average rose 3.01, or 0.02 percent, to 12,612.43, after rising more than 120 points earlier in the day.

Broader stock indicators finished mixed. The S&P 500 index closed up 2.14, or 0.16 percent, at 1,372.54, after rising as high as 1,386.74. The Nasdaq composite index fell 6.15, or 0.26 percent, to 2,364.83.

Government bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, jumped to 3.55 percent from 3.47 percent late Wednesday.

Though the stock market has not recovered all the ground it lost in March, when the credit crisis reached a critical point and led to the buyout of Bear Stearns Cos., investors launched a strong comeback last week. Wall Street is growing more optimistic that stocks and the companies that issue them may be starting to rebound from a long slump due to tight credit and a sluggish economy.

"Overall, I'm getting the sense here that the Street is starting to focus on fundamentals and the timing of a potential recovery in the economy, and trying to move past the credit crisis," said Craig Peckham, market strategist at Jefferies & Co.

That's not to say the market volatility seen over the past several months has subsided for good, however. As earnings pour in over the next couple weeks, it's possible investors could grow anxious again -- especially if banks reveal bigger losses than expected, Peckham said, and in more types of debt than anticipated.

Alcoa's results might stir some of that anxiety. The company said it earned 37 cents per share in the first quarter, compared to analysts' expectations of 48 cents. The company's stock was down $1.56, or 4 percent, at $37.44 in regular trading and fell further in after-hours dealings.

But there were many signs during the day that Wall Street was feeling more optimistic.

After news that Washington Mutual might sell a stake for cash -- a move that other banks such as Citigroup Inc., Merrill Lynch & Co. and Morgan Stanley have also made -- WaMu shares shot up $2.98, or 29 percent, to $13.15. Other banks rose as well; Merrill rose $1.30, or 2.8 percent, to $47.55, and Bear Stearns rose 20 cents to $10.67 and Goldman Sachs rose $3.33 to $178.73.

In other dealmaking news, Swiss pharmaceutical maker Novartis AG said it will spend about $38 billion in a two-step bid for a majority stake in U.S. eye-care company Alcon Inc. Alcon rose $2.19 to $150.63, and Novartis fell $2.12, or 4 percent, to $50.

Discover Financial Services LLC said it was buying the Diners Club International card network from Citigroup Inc. for $165 million. Discover rose 95 cents, or 5.5 percent, to $18.09, while Citi rose 52 cents, or 2.2 percent, to $24.60.

And Microsoft Corp. gave Yahoo Inc. a three-week deadline to agree to a takeover, or, Microsoft said, it would launch a proxy fight for control of the company. Yahoo fell 66 cents, or 2.3 percent, to $27.70, while Microsoft closed flat at $29.16. Yahoo said the deal isn't in the best interests of its shareholders, and called Microsoft's proxy threat counterproductive.

Last week, stocks advanced as investors found relief in reports that Lehman Brothers Holdings Inc. and Switzerland's UBS AG are selling stock to raise cash and Merrill Lynch & Co. believes it has sufficient cash to continue operating. Despite a report Friday showing the third straight month of job losses in March, the Dow finished last week up 3.22 percent, the S&P 500 index rose 4.86 percent, and the Nasdaq rose 4.20 percent.

Even as Martin Feldstein, chief executive of the National Bureau of Economic Research, said Monday on CNBC he personally believes the U.S. economy has been slipping into recession since January, stocks largely held onto those gains. The NBER has not officially decided whether the economy is in recession, and normally is not able to until after the fact.

Light, sweet crude rose $2.70 to $108.93 a barrel on the New York Mercantile Exchange. Gold prices also increased, and the dollar gained against most other major currencies.

Advancing issues outnumbered decliners by about 9 to 7 on the New York Stock Exchange, where volume came to a light 1.27 billion shares.

The Russell 2000 index of smaller companies fell 1.05, or 0.15 percent, to 712.68.

Overseas, Japan's Nikkei stock average rose 1.18 percent. Britain's FTSE 100 added 1.14 percent, Germany's DAX index rose 0.85 percent, and France's CAC-40 rose 0.89 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

-----------------------------------------------------------------------
THE DOW's DAILY MOVEMENTS HAS BEEN SMALL SINCE APRIL1!!
+391.47 points +3.19% on Tuesday April 1
-48.53 points -0.38% on Wednesday April 2
+20.20 points +0.16% on Thursday April 3
-16.61 points -0.13% on Friday April 4
+3.01 points +0.02% on Monday April 7
-35.99 points -0.29% on Tuesday April 8
-----------------------------------------------------------------------

The NYSE DOW closed LOWER by -35.99 points -0.29% on Tuesday April 8

Sym Last........ ........Change..........
Dow 12,576.44 -35.99 -0.29%
Nasdaq 2,348.76 -16.07 -0.68%
S&P 500 1,365.54 -7.00 -0.51%
30-yr Bond 4.3830% +0.0140

NYSE Volume 3,527,619,750
Nasdaq Volume 1,662,376,250

Overseas
Japan's Nikkei stock average fell 1.49 percent. Britain's FTSE 100 slid 0.41 percent, Germany's DAX index lost 0.72 percent, and France's CAC-40 dropped 0.65 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,990.20 -24.60 -0.41%
DAX 6,771.98 -49.05 -0.72%
CAC 40 4,912.69 -31.91 -0.65%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 13,250.43 -199.80 -1.49%
Hang Seng 24,311.69 -267.07 -1.09%

http://biz.yahoo.com/ap/080408/wall_street.html
Stocks Fall After Earnings, Fed Minutes
Tuesday April 8, 4:36 pm ET
By Madlen Read, AP Business Writer
Wall Street Pulls Back Following Worse-Than-Expected Profit Data, Minutes From Federal Reserve

NEW YORK (AP) -- Wall Street retreated Tuesday after aluminum producer Alcoa Inc. and chip maker Advanced Micro Devices Inc. issued disappointing reports and the Federal Reserve voiced concerns about the slumping economy.

Stocks were already lower on worries about weak first-quarter earnings when the minutes from the Fed's March 18 meeting were released. The minutes showed that some central bank officials, who forecast that the economy would contract during the first half, were concerned about the possibility of a "prolonged and severe" business downturn.

The minutes also indicated that Fed officials were conflicted over how much more interest rates could be reduced at the expense of higher inflation. The combination of a slow economy but not much more room for interest rate cuts at first rattled investors and sent the Dow Jones industrials down to a loss of 86 points, although the blue chips regained some ground in the final hour of trading.

The market's overall steadiness indicated to analysts that investors are more levelheaded than they were just a few weeks ago, when the global banking system was in crisis mode.

But corporate reports at the start of first-quarter earnings season were nonetheless troubling. Given a 54 percent drop in Alcoa's first-quarter profit, a 15 percent drop in AMD's first-quarter sales and a lowered profit outlook at rival chip maker Novellus Systems Inc., it appears to some on Wall Street that they might have to pare back their profit estimates for this year.

"While investors had a pretty much washed-out, pessimistic view of the economy, those investors also had an unrealistic view on earnings ... It seems investors are conflicted between their pessimism on the economy and their optimism on earnings," said Jack A. Ablin, chief investment officer at Harris Private Bank. "The good news is, we've moved away from emotional, jittery trading to a reconciliation of values. The market is substantially more rational than it was."

According to preliminary calculations, the Dow fell 35.99, or 0.29 percent, to 12,576.44.

Broader stock indicators also dropped. The Standard & Poor's 500 index fell 7.00, or 0.51 percent, to 1,365.54, and the Nasdaq composite index fell 16.07, or 0.68 percent, to 2,348.76, taking a larger hit because of concerns about high-tech companies following the news from AMD and Novellus.

Government bonds were little changed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, ended at 3.56 percent, up 1.7 percent from Monday's close.

The International Monetary Fund said Tuesday that despite "unprecedented intervention" by the Fed and other central banks, "financial markets remain under considerable strain." The group estimated that potential credit-related losses for the financial industry had reached $945 billion as of March -- a "staggering number," said Hugh Johnson, chief investment officer of Johnson Illington Advisors.

The credit markets have been performing much better after rate moves and massive lending efforts by the Fed, but many experts say it will be hard for the markets to loosen further with the housing market still on the decline. The National Association of Realtors said Tuesday that February's pending home sales fell by 1.9 percent compared to January, worse than many analysts had predicted.

The fallout from the credit crisis -- which had its beginnings in the housing slump -- continued Tuesday, troubling some investors who had sent stocks soaring last week on the growing belief that the worst of the credit crisis has passed.

Washington Mutual Inc. said it is raising $7 billion by selling a stake to a private equity investment group, but the Seattle-based thrift also said it will lose $1.1 billion during the first quarter, stash away $3.5 billion for loan losses and cut its quarterly dividend to shareholders to a penny from 15 cents.

WaMu shares fell $1.34, or 10.2 percent, to $11.81.

Meanwhile, a day after its disappointing earnings report, Alcoa fell 26 cents to $37.18, having dropped 4 percent Monday ahead of its earnings release.

AMD shares fell 31 cents, or 4.9 percent, to $6.03, and Novellus fell $1.93, or 8.1 percent, to $21.88.

Light, sweet crude fell 59 cents to settle at $108.50 a barrel on the New York Mercantile Exchange. Gold prices closed down, while the dollar traded mixed against other major currencies.

The Russell 2000 index of smaller companies fell 0.76, or 0.11 percent, to 711.92.

Declining issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to 1.2 billion shares.

Overseas, Japan's Nikkei stock average fell 1.49 percent. Britain's FTSE 100 slid 0.41 percent, Germany's DAX index lost 0.72 percent, and France's CAC-40 dropped 0.65 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

-----------------------------------------------------------------------
A RED DAY YESTERDAY
-----------------------------------------------------------------------

The NYSE DOW closed LOWER by -49.18 points -0.39% on Wednesday April 9

Sym Last........ ........Change..........
Dow 12,527.26 -49.18 -0.39%
Nasdaq 2,322.12 -26.64 -1.13%
S&P 500 1,354.49 -11.05 -0.81%
10 Yr Bond(%) 3.4660% -0.0920

Overseas
Japan's Nikkei stock average fell 1.05 percent. Britain's FTSE 100 closed down 0.11 percent, Germany's DAX index declined 0.75 percent, and France's CAC-40 fell 0.77 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,983.90 -6.30 -0.11%
DAX 6,721.36 -50.62 -0.75%
CAC 40 4,874.97 -37.72 -0.77%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 13,111.89 -138.54 -1.05%
Hang Seng 23,984.57 -327.12 -1.35%
Straits Times 3,089.72 -40.70 -1.30%

http://biz.yahoo.com/ap/080409/wall_street.html
Stocks Fall As Oil Jumps; UPS Warns
Wednesday April 9, 5:43 pm ET
By Tim Paradis, AP Business Writer
Stocks Fall Following Jump in Oil, UPS Profit Warning; Investors Face Concerns About Economy

NEW YORK (AP) -- Wall Street extended its losses Wednesday as a rise in oil prices and a profit warning from United Parcel Service Inc. raised investors' anxiety about the well-being of the economy.

Technology names were among the steepest decliners, with the tech-dominated Nasdaq composite index falling more than 1 percent.

The surge in oil prices weighed on transportation stocks and contributed to a pessimistic tone in the market. Crude prices jumped following a government report showing U.S. inventories fell by more than expected last week. The rise hurt shares of airline and trucking companies, which have already struggled with high fuel costs.

UPS, the world's largest shipping carrier, pointed to a weaker economy and higher fuel costs in trimming its forecast. Investors earlier this week received reports from aluminum producer Alcoa Inc. and chip maker Advanced Micro Devices Inc. that have made the market uneasy about overall first-quarter results.

Joe Kinahan, chief derivatives strategist for the brokerage service Thinkorswim Group Inc., said investors are nervous about the implications, including inflation, of higher oil prices. Still, he said the relative calmness seen in the markets in recent sessions is impressive even as investors remain cautious about the economy.

"It's the first week we have had in a while where stocks are trading on their own merit. That's why we're trading on oil," he said. "It's amazing how well the market has held in there with three days of not good news."

The Dow Jones industrial average fell 49.18, or 0.39 percent, to 12,527.26.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 11.05, or 0.81 percent, to 1,354.49, and the Nasdaq declined 26.64, or 1.13 percent, to 2,322.12.

The Russell 2000 index of smaller companies fell 13.54, or 1.90 percent, to 698.38.

Declining issues outnumbered advancers by more than 2 to 1 on the New York Stock Exchange, where consolidated volume came to 3.43 billion shares compared with 3.66 billion shares traded Tuesday.

Bond prices jumped as stocks declined. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.48 percent in late trading from 3.56 percent late Tuesday.

Light, sweet crude jumped $2.37 to settle at a record $110.87 a barrel on the New York Mercantile Exchange after earlier rising as high as $112.21. The previous record, set last month, was $111.80.

The rise in oil hurt transportation stocks. Three relatively small air carriers have filed for bankruptcy in as many weeks -- in part because of high fuel prices. Among airlines, Continental Airlines Inc. fell $1.66, or 7.6 percent, to $20.24, while trucking company J.B. Hunt Transport Service Inc. fell $1.92, or 6 percent, to $29.85.

Gold prices rose, while the dollar was mixed against other major currencies.

Bill Schultz, chief investment officer at McQueen, Ball & Associates in Bethlehem, Pa., said some investors have grown worried that profit warnings from companies like UPS could signal the economy is facing a tougher climb than some investors had speculated and that further disclosures could derail hopes for an economic recovery in the second half of the year.

"We know the first quarter is not going to be good. UPS is sort of indicating that maybe things are continuing to be not so positive out there," he said. "People are looking for clues more, I think, for the second half this year."

Despite the market's declines on Tuesday and Wednesday, investors don't appear fearful, Kinahan said.

He noted that the Chicago Board Options Exchange's volatility index, known as the VIX, and often referred to as the "fear index," remained below the important 25 level. It rose 0.47, or 2.1 percent, to 22.83 Wednesday. Kinahan contends readings in this range suggest investors are being careful but aren't succumbing to fear.

"Thirty is really the level where people are really, really frightened," he said. "We might be a little bit cautious here as to what's going to happen."

Kinahan added that technology shares showed steeper declines Wednesday than some other stocks because investors seemed uncertain about what the next catalyst might be to drive tech issues. He noted that while Apple Inc. has been a strong performer, investors seem to be wanting more reason to buy into the sector. Apple fell $1.40 to $151.44.

In corporate news, UPS' earnings forecast weighed on the stock. UPS warned at an investor conference last month that it might miss its earnings target if weakness seen in February didn't ease. UPS fell $2.74, or 3.7 percent, to $70.57.

AMR Corp. fell $1.15, or 11 percent, to $9.17 after its American Airlines canceled more than 1,000 flights as it inspects the wiring on some of its aircraft. The move comes a day after American canceled 460 flights after federal inspectors found problems in work done two weeks ago on wiring.

Boeing Co. delayed its 787 jetliner by another six months, pushing the aircraft's debut for commercial service to the third quarter next year. Still, some analysts had expected a greater delay. The stock, one of the 30 that comprise the Dow industrials, rose $3.58, or 4.8 percent, to $78.60 and helped contain the blue chips' losses.

Overseas, Japan's Nikkei stock average fell 1.05 percent. Britain's FTSE 100 closed down 0.11 percent, Germany's DAX index declined 0.75 percent, and France's CAC-40 fell 0.77 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER by +54.72 points +0.44% on Thursday April 10

Sym Last........ ........Change..........
Dow 12,581.98 +54.72 +0.44%
Nasdaq 2,351.70 +29.58 +1.27%
S&P 500 1,360.55 +6.06 +0.45%
30-yr Bond 4.3420% +0.0360

NYSE Volume 3,642,058,750
Nasdaq Volume 2,206,657,250

Overseas
Japan's Nikkei stock average dropped 1.27 percent. Britain's FTSE 100 fell 0.31 percent, Germany's DAX index fell 0.25 percent, and France's CAC-40 fell 0.32 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,965.10 -18.80 -0.31%
DAX 6,704.32 -17.04 -0.25%
CAC 40 4,859.42 -15.55 -0.32%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 12,945.30 -166.59 -1.27%
Hang Seng 24,187.10 +202.53 +0.84%
Straits Times 3,064.60 -25.12 -0.81%

http://biz.yahoo.com/ap/080410/wall_street.html
Stocks Rise Despite Mixed Retail Data
Thursday April 10, 4:37 pm ET
By Madlen Read, AP Business Writer
Wall Street Shares Rise on Drop in Jobless Claims, Discount Retailer Sales

NEW YORK (AP) -- Wall Street rose Thursday as investors bought back into stocks after two days of losses, encouraged by a drop in unemployment claims and a better-than-expected sales performance by discount retailers.

Although last week the Labor Department said the four-week average of initial unemployment claims rose to a two-and-a-half-year high, investors were pleased to hear that claims last week fell by more than expected, following a surge the previous week.

And while many retailers -- from Gap Inc. to Saks Inc. -- said Thursday that March sales slid as consumers grew more frugal, Wall Street was encouraged that other companies are weathering the economic weakness. Discount retailers Wal-Mart Stores Inc. and Costco Wholesale Corp., stores that sell staples like food and gasoline, reported sharp increases in March sales and indicated they expect sales to keep rising.

"The jobless claims snapped back down following the sharp rise last week. Combined with the news from Wal-Mart, it suggests that the consumer may be able to muddle through. That's providing some support for an otherwise strained market," said Alan Gayle, senior investment strategist for RidgeWorth Capital Management.

Questions about the health of the global financial system ahead of next week's bank earnings, however, continue to provide a troubling backdrop for the market. Lehman Brothers Holdings Inc. disclosed in a regulatory filing Wednesday that it liquidated three funds because of the tight credit markets and brought the assets of those funds, valued at $1 billion, onto its books Feb. 29. The investment bank said it also purchased deteriorated assets valued at $800,000 from other distressed funds.

"We think everything is better, and then we get another surprise. Every credit rock we turn over has something else crawl out from under it," Gayle said.

According to preliminary results, the Dow Jones industrial average rose 54.72, or 0.44 percent, to 12,581.98.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 6.06, or 0.45 percent, to 1,360.55, and the Nasdaq composite index rose 29.58, or 1.27 percent, to 2,351.70.

"This market is basically trying to look forward," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc.

"There's a lot of negative factors," Cardillo said. Treasury Secretary Henry Paulson said in a speech Thursday that the economy has turned sharply lower, echoing comments by Federal Reserve Chairman Ben Bernanke, who has acknowledged the United States is probably in recession. But, Cardillo noted, "the market knows all of these things."

Government bonds fell as stocks rose. The 10-year Treasury note's yield, which moves opposite its price, rose to 3.53 percent from 3.48 percent late Wednesday.

The Nasdaq got a big boost after Japanese drug maker Takeda Pharmaceutical Co. announced an $8.8 billion, all-cash bid for U.S. biotechnology company Millennium Pharmaceuticals. Millennium soared $7.99, or 49 percent, to $24.34.

After surging to a record Wednesday, light sweet crude fell 76 cents to settle at $110.11 a barrel on the New York Mercantile Exchange.

The dollar regained ground after the Bank of England lowered its base lending rate by a quarter-point to 5 percent, the lowest level in 17 months, and the European Central Bank left its rates unchanged. Gold prices fell.

In other corporate news, Yahoo Inc. and Time Warner Inc.'s AOL are close to a deal to combine their Internet operations, according to published reports. The deal is aimed at thwarting Microsoft Corp.'s effort to buy Yahoo, but the software giant reportedly is talking with Rupert Murdoch's News Corp. about launching a joint bid for Yahoo.

Yahoo rose 82 cents, or 3 percent, to $28.59. Time Warner gained 18 cents to $14.61.

Microsoft added 22 cents to $29.11, while News Corp. gave up 9 cents to $19.44.

Wal-Mart rose 52 cents to $54.66 after reporting its sales figures, and Costco rose 49 cents to $66.52.

Lehman Brothers slipped 29 cents to $40.25 after the fund liquidations.

The Russell 2000 index of smaller companies rose 9.04, or 1.29 percent, to 707.42.

Advancing issues outnumbered decliners by just under 2 to 1 on the New York Stock Exchange, where volume came to 1.28 billion shares.

Overseas, Japan's Nikkei stock average dropped 1.27 percent. Britain's FTSE 100 fell 0.31 percent, Germany's DAX index fell 0.25 percent, and France's CAC-40 fell 0.32 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER by -256.56 points -2.04% on Friday April 11

For the week, the Dow lost 2.3 percent, the S&P 500 declined 2.7 percent and the technology-heavy Nasdaq gave up 3.4 percent.

Wall Street stumbled Friday after a disappointing first-quarter report from General Electric Co. surprised the market and stoked concern about the health of both corporate profits and the wider economy. The major indexes fell more than 2 percent, with the Dow Jones industrials giving up more than 250 points.

Sym Last........ ........Change..........
Dow 12,325.42 -256.56 -2.04%
Nasdaq 2,290.24 -61.46 -2.61%
S&P 500 1,332.83 -27.72 -2.04%
30-yr Bond 4.3020% -0.0400

NYSE Volume 3,665,479,750
Nasdaq Volume 1,900,548,880

Overseas
Japan's Nikkei stock average rose 2.92 percent. Britain's FTSE 100 closed down 1.17 percent, Germany's DAX index fell 1.50 percent, and France's CAC-40 finished off 1.27 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,895.50 -69.60 -1.17%
DAX 6,603.57 -100.75 -1.50%
CAC 40 4,797.93 -61.49 -1.27%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 13,323.73 +378.43 +2.92%
Hang Seng 24,667.79 +480.69 +1.99%

http://biz.yahoo.com/ap/080411/wall_street.html
Stocks Fall Sharply Following GE ResultsFriday April 11, 4:25 pm ET
By Tim Paradis, AP Business Writer
Wall Street Sells Off After Disappointing GE Profits; Consumer Sentiment Reading Shows Unease

NEW YORK (AP) -- Wall Street stumbled Friday after a disappointing first-quarter report from General Electric Co. surprised the market and stoked concern about the health of both corporate profits and the wider economy. The major indexes fell more than 2 percent, with the Dow Jones industrials giving up more than 250 points.

A weaker-than-expected reading showing consumer confidence at a 26-year low subdued any positive sentiment.

GE, which is regarded as a bellwether of big business, said its financial-services divisions have been challenged by the slowing U.S. economy and difficult capital markets. The company, whose orbit extends into entertainment, consumer and industrial manufacturing, finance and health care, also lowered its projections for the entire year.

The conglomerate is one of the early companies to post first-quarter results and its shortfall stirred worries that others still to report will paint a similarly dreary picture. The smaller-than-expected profits from GE injected anxiety into a market that earlier this week saw disappointing results from aluminum producer Alcoa Inc. and a warning from chip maker Advanced Micro Devices Inc.

"The market really is focusing on the extent to which problems in the credit markets are spilling over into the real economy," said Brian Gendreau, investment strategist for ING Investment Management in New York.

According to preliminary calculations, the Dow fell 256.56, or 2.04 percent, to 12,325.42. GE was by far the steepest decliner among the 30 stocks that comprise the Dow. Its shares dropped $4.70, or 13 percent, to $32.05.

Broader stock indicators also registered sizable losses. The Standard & Poor's 500 index fell 27.72, or 2.04 percent, to 1,332.83, and the Nasdaq composite index fell 61.46, or 2.6 percent, to 2,290.24.

The Russell 2000 index of smaller companies fell 19.26, or 2.72 percent, to 688.16.

Declining issues outnumbered advancers by about 4 to 1 on the New York Stock Exchange, where volume came to 1.26 billion shares compared with 1.28 billion shares traded Thursday.

Friday's pullback followed a comparatively quiet week in which the major indexes showed modest adjustments. Stocks were little changed Monday, declined Tuesday following profit warnings from names like United Parcel Service Inc. and posted moderate gains Thursday following a drop in unemployment claims.

For the week, the Dow lost 2.3 percent, the S&P 500 declined 2.7 percent and the technology-heavy Nasdaq gave up 3.4 percent.

Bond prices rose Friday as investors fearful of a slowing economy took up defensive positions in government debt. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.46 percent from 3.55 percent late Thursday.

Light, sweet crude rose 3 cents to settle at $110.14 per barrel on the New York Mercantile Exchange. The dollar was mixed against other major currencies, while gold prices fell.

A snapshot of a gloomy consumer added to recent reports showing Americans' confidence in the economy at new lows, dragged down by worries about mounting job losses, record-high home foreclosures and zooming energy prices.

Investors fear that nervous shoppers will be less willing to reach into their wallets -- an unwelcome prospect as consumer spending accounts for about 70 percent of U.S. economic activity.

The preliminary Reuters/University of Michigan index of consumer sentiment fell to 63.2 for April -- its lowest point since 1982 -- from 69.5 in March, according to Dow Jones Newswires. Economists polled by Thomson/IFR had, on average, expected a reading of 68.

"I think rationality is coming into the market," said Alan Lancz, director at investment research group LanczGlobal in Toledo, Ohio. "Every time we move up to test the upper end of the range, something seems to happen."

He noted that even if the most onerous times for the financial sector have passed, as some market watchers have said, the effects of a tight credit market will be felt for some time. Lancz said GE's results offer new evidence that forecasts for corporate profits in general remain too rosy given the troubles hitting businesses.

"They're facing a lot of headwinds that I don't think a lot of analysts have put into their numbers," he said.

Lancz contends that the Federal Reserve's moves last month to head off the collapse of Bear Stearns Cos. no doubt helped stabilize Wall Street -- but might have led some investors to become complacent about the scope of the troubles still facing the economy.

Linda Duessel, a market strategist at Federated Investors in Pittsburgh, noted that GE is known for its dependability in meeting Wall Street's forecasts, and the nearly 6 percent drop in its profits suggest that other first-quarter results next week could reveal weakness well beyond the financial industry.

"In the fourth quarter of last year the financials continued to tell us bad news and the rest of the sectors hung in extremely well," she said, adding that investors are now worried the weakness has spread.

"That company is known for being kind of a window to the market and the economy," she said of GE.

In other corporate news, Frontier Airlines Holdings Inc. filed for Chapter 11 bankruptcy protection. Unlike the three other airlines that have filed for bankruptcy in as many weeks, the carrier plans to keep operating while it reorganizes. Frontier ended down $1.09, or 69 percent, at 48 cents.

Overseas, Japan's Nikkei stock average rose 2.92 percent. Britain's FTSE 100 closed down 1.17 percent, Germany's DAX index fell 1.50 percent, and France's CAC-40 finished off 1.27 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

Stocks finished a quiet session moderately lower Monday as investors grappled with concerns about the health of corporate profits after Wachovia Corp. posted disappointing quarterly results.

The NYSE DOW closed LOWER by -23.36 points -0.19% on Mondy April 14

Sym Last........ ........Change..........
Dow 12,302.06 -23.36 -0.19%
Nasdaq 2,275.82 -14.42 -0.63%
S&P 500 1,328.32 -4.51 -0.34%
30-yr Bond 4.3410% +0.0390

NYSE Volume 3,475,319,000
Nasdaq Volume 1,626,701,620

Overseas
Japan's Nikkei stock average fell 3.05 percent. Britain's FTSE 100 closed down 1.08 percent, Germany's DAX index fell 0.74 percent, and France's CAC-40 fell 0.66 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,831.60 -63.90 -1.08%
DAX 6,554.49 -49.08 -0.74%
CAC 40 4,766.49 -31.44 -0.66%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 12,917.51 -406.22 -3.05%
Hang Seng 23,811.20 -856.59 -3.47%

http://biz.yahoo.com/ap/080414/wall_street.html
Stocks End Lower Amid Earnings Concerns
Monday April 14, 4:43 pm ET
By Tim Paradis, AP Business Writer
Stocks End Quiet Session Lower Following Disappointing Earnings, Improvement in Retail Sales

NEW YORK (AP) -- Stocks finished a quiet session moderately lower Monday as investors grappled with concerns about the health of corporate profits after Wachovia Corp. posted disappointing quarterly results.

Investors appeared to be pausing following a sell-off Friday and ahead of a raft of quarterly results and economic data arriving this week.

Wachovia surprised investors by posting a first-quarter loss of $393 million and cut its quarterly dividend by 41 percent to 37.5 cents. The bank, which analysts had expected to post a profit, also said it plans to raise $7 billion through a stock offering.

But investors appeared to find some encouragement in the session from a better-than-expected report on retail sales. The Commerce Department's reading on March retail sales, which showed a modest 0.2 percent rise following February's 0.6 percent decline, appeared to quell some unease about the economy. The March figure bested the flat reading analysts had predicted. Excluding a 1.1 percent rise at gasoline service stations, retail sales would have been flat last month -- and possibly negative when adjusted for inflation.

"We obviously came out with more bad financial news," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, referring to the Wachovia report. "The flip side is we had retail sales come in a little better than expected. It seems like they kind of negated each other."

According to preliminary calculations, the Dow Jones industrial average fell 23.36, or 0.19 percent, to 12,302.06.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 4.51, or 0.34 percent, to 1,328.32, and the technology-laden Nasdaq composite index fell 14.42, or 0.63 percent, to 2,275.82.

Declining issues outpaced advancers by about 3 to 2 on the New York Stock Exchange, where volume came to 1.18 billion shares compared with 1.26 billion shares traded Friday.

Bond prices edged lower. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.50 percent from 3.48 percent late Friday.

Light, sweet crude rose $1.62 to settle at a record $111.76 per barrel as the dollar fell, helping drive prices higher.

Gold prices turned higher, and the dollar was mixed against other major currencies.

Investors sold off shares of financials, led by Wachovia, which fell $2.26, or 8 percent, to $25.55. Citigroup Inc., which is due to report its quarterly results Friday, fell 85 cents, or 3.6 percent, to $22.51.

Detrick noted that the Wachovia news compounded investors' concerns about the banking sector following a report Friday from General Electric Co. GE, seen as a bellwether of big business, said its financial services business was challenged in the first quarter by the slowing U.S. economy and difficult capital markets. The conglomerate's disappointing first-quarter sent the major indexes down by more than 2 percent Friday.

"This is just more bad news for financials. It just confirms that the financials are by no means out of the woods yet," Detrick said of Wachovia.

He contends many investors are holding off any major moves ahead of corporate results and economic figures on inflation due later in the week.

"Today just seems like just a break from the massive selling we saw Friday. We want more confirmation from companies reporting earnings this week if indeed earnings are going to weak or if the first inning was just a bad start to the game," he said in reference to the early first-quarter results.

In dealmaking news, Blockbuster Inc. said it is taking an unsolicited $1 billion-plus bid for Circuit City Stores Inc. directly to shareholders. Blockbuster said the consumer electronics chain has dragged out a deal that has been under negotiations for months. Circuit City jumped $1.07, or 27 percent, to $4.97, while Blockbuster fell 32 cents, or 10 percent, to $2.81.

Meanwhile, Northwest Airlines Corp. pilots have threatened to oppose a combination with Delta Air Lines Inc., but officials were nonetheless mobilizing to announce a deal to create the world's biggest airline as early as Tuesday -- provided the boards of the two companies give final approval to the deal, people familiar with the talks said Sunday. Northwest rose 26 cents to $11.22, while Delta advanced 47 cents, or 4.7 percent, to $10.48.

And in a sign that the slumping U.S. economy is hurting companies overseas, Royal Philips Electronics reported a sharp drop in first-quarter profits as a decrease in television sales in North America offset growth in its health care and lighting industries.

The Russell 2000 index of smaller companies fell 2.09, or 0.30 percent, to 686.07.

Overseas, Japan's Nikkei stock average fell 3.05 percent. Britain's FTSE 100 closed down 1.08 percent, Germany's DAX index fell 0.74 percent, and France's CAC-40 fell 0.66 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

A GREEN DAY ALL OVER!!!!

Wall Street closed an erratic session moderately higher Tuesday after investors sorted through a mixed batch of data that included a rebound in New York manufacturing, signs of rising inflation and uneven first-quarter earnings. The market also had its eye on the rising price of crude oil.

The NYSE DOW closed HIGHER by +60.41 points +0.49% on Tuesday April 15

Sym Last........ ........Change..........
Dow 12,362.47 +60.41 +0.49%
Nasdaq 2,286.04 +10.22 +0.45%
S&P 500 1,334.43 +6.11 +0.46%
30-yr Bond 4.4050% +0.0640

NYSE Volume 3,540,285,250
Nasdaq Volume 1,844,963,875

Overseas
Japan's Nikkei stock average rose 0.77 percent. Britain's FTSE 100 rose 1.29 percent, Germany's DAX index rose 0.47 percent, and France's CAC-40 rose 0.30 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,906.90 +75.30 +1.29%
DAX 6,585.05 +30.56 +0.47%
CAC 40 4,780.68 +14.19 +0.30%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 12,990.58 +73.07 +0.57%
Hang Seng 23,901.33 +90.13 +0.38%
Straits Times 3,056.49 +13.53 +0.44%

http://biz.yahoo.com/ap/080415/wall_street.html
Stocks rise in erratic trading after economic, earnings data
Tuesday April 15, 4:44 pm ET
By Madlen Read, AP Business Writer
Wall Street advances after gains in inflation, recovery in NY manufacuring, mixed earnings

NEW YORK (AP) -- Wall Street closed an erratic session moderately higher Tuesday after investors sorted through a mixed batch of data that included a rebound in New York manufacturing, signs of rising inflation and uneven first-quarter earnings. The market also had its eye on the rising price of crude oil.

Following a spate of disappointing readings on the economy, investors were pleased that the New York Federal Reserve reported regional manufacturing expanded modestly in April, after shrinking at a record clip in March. The market had expected another contraction.

And in a positive sign for earnings, health care products maker Johnson & Johnson said its first-quarter profit jumped 40 percent on rising sales and declining costs. Results from the maker of consumer staples ranging from baby shampoo to pharmaceuticals came as a relief to investors, who have been unimpressed by most first-quarter earnings so far.

Still, the market remains anxious about inflation. As crude oil prices surged to a record $114 a barrel, and retail gasoline and diesel prices reached new highs, the Labor Department's Producer Price Index registered a much higher-than-anticipated 1.1 percent rise for March. The core index, which strips out food and energy prices, rose by 0.2 percent, as expected.

Core producer price increases have slowed over the past three months, so most investors are not too worried that inflation will keep the Federal Reserve from lowering interest rates again if the economy weakens further. However, food and energy prices keep soaring, so consumers have been paring back their discretionary spending to afford necessities -- and that is hurting some corporate profits.

"My guess is people are still really concerned about the inflation impact down the road. If oil stays where it is, it's going to be a problem," said Philip S. Dow, managing director of equity strategy at RBC Dain Rauscher in Minneapolis.

According to preliminary calculations, the Dow Jones industrial average closed up 60.41, or 0.49 percent, at 12,362.47.

Broader stock indicators also advanced. The Standard & Poor's 500 index rose 6.11, or 0.46 percent, to 1,334.43, while the Nasdaq composite index added 10.22, or 0.45 percent, to 2,286.04.

Bond prices fell in response to the inflation and manufacturing news. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.57 percent from 3.51 percent late Monday.

High oil prices are one reason Wall Street is pessimistic about the airline industry. Delta Air Lines Inc.'s and Northwest Airlines Corp.'s combination to create the world's largest carrier weighed on the stock market Tuesday, with investors uneasy about the all-stock deal. Delta fell $1.46, or 14 percent, to $9.02, while Northwest fell $1.121, or 10 percent, to $10.10.

Johnson & Johnson slipped 9 cents to $65.65, but the company's earnings were a refreshing surprise for the market, RBC's Dow said. And despite everything that has happened this year with the global financial system and the economy, he added, the stock market has not fallen a full 20 percent from its highs last year, the traditional indication of a bear market.

"There's no shortage of things to worry about, but it seems to me that most people in equities have thought about selling or have sold. There's a much larger population that's sold than not," Dow said. "It's a time when if you're willing to be patient, there are some pretty attractive valuations right now."

Banks are looking particularly cheap. On Tuesday, a mild recovery in financial stocks, including Citigroup Inc. and JPMorgan Chase & Co., after a string of down days for the banks, helped lift the broader stock market.

"Financials have stabilized today, which is a good thing," said Todd Leone, managing director of equity trading at Cowen & Co. "They've been backing and filling. I wouldn't say the worst is over with these stocks, but I think they've become more transparent."

JPMorgan releases its first-quarter results on Wednesday, Citigroup reports Friday, and Bank of America Corp. reports next week. JPMorgan rose 62 cents to $42.12; Citi added 29 cents to $22.80; and BofA ended unchanged at $35.58.

Overall, Tuesday's trading was fairly quiet, with investors cautious about making big bets ahead of earnings later this week and next.

"There's no real prevailing theme to the market right now," Leone said. "They're waiting for a whole slew of earnings."

Gold prices rose, while the dollar fell against other major currencies.

The Russell 2000 index of smaller companies rose 5.99, or 0.87 percent, to 692.06.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where volume came to a light 1.2 billion shares.

Overseas, Japan's Nikkei stock average rose 0.77 percent. Britain's FTSE 100 rose 1.29 percent, Germany's DAX index rose 0.47 percent, and France's CAC-40 rose 0.30 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

80 minutes to go to close today and looking great +177.98 points +1.44%

Sym Last........ ........Change..........
Dow 12,540.45 +177.98 +1.44%
Nasdaq 2,335.44 +49.40 +2.16%
S&P 500 1,355.13 +20.70 +1.55%
30-yr Bond 4.5290% +0.1240

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,046.20 +139.30 +2.36%
DAX 6,702.84 +117.79 +1.79%
CAC 40 4,855.10 +74.42 +1.56%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 13,146.13 +155.55 +1.20%
Hang Seng 23,878.35 -22.98 -0.10%
Straits Times 3,087.49 +31.00 +1.01%

http://biz.yahoo.com/ap/080416/wall_street.html
Wall Street surges higher after upbeat earnings reports
Wednesday April 16, 2:28 pm ET
By Joe Bel Bruno, AP Business Writer
Stocks stage big rally after earnings from Intel, JPMorgan, Coca-Cola ease profit anxiety

NEW YORK (AP) -- Wall Street rallied Wednesday after better-than-expected quarterly results from JPMorgan Chase & Co. and two other Dow Jones industrials raised investors' hopes that companies and the economy are recovering from the protracted global credit crisis. The blue chip index rose 170 points.

Investors anxious about corporate earnings and their impact on the economy were relieved after JPMorgan, Coca-Cola Co., and Intel Corp. all topped first-quarter projections. The three companies are among dozens of others that will post quarterly results Wednesday.

The battered financial sector advanced after JPMorgan beat analysts' expectations despite a 50 percent drop in quarterly profit. The nation's third-biggest bank, which is in the process of acquiring ailing Bear Stearns Cos., reported $2.6 billion of write-downs tied to its loan portfolio.

"You have a combination of JPMorgan and all these other strong earnings out there from a broad range sectors, and that's helping the buying we're seeing," said Todd Salamone, director of trading and vice president of research at Schaeffer's Investment Research. "There's an unwinding of all the negativity that we saw ahead of the earnings season."

Salamone and other analysts have been hoping that strength in corporate earnings would act as a catalyst for a significant rally; the market has managed a choppy assent since hitting lows in early March. Investors have been growing more confident in recent weeks that the Federal Reserve's efforts to boost the economy and the troubled credit markets are working.

In addition to earnings reports, Wall Street weighed sluggish economic reports on inflation and housing that were mostly within expectations. The Federal Reserve also released its Beige Book report which said the economy is weakening amid a softening labor market.

In midafternoon trading, the Dow rose 169.68, or 1.37 percent, to 1,532.15. The index is up more than 700 points from a low near 11,740, reached March 10.

Broader markets also gained. The Standard & Poor's 500 index rose 19.66, or 1.47 percent, to 1,354.09; and the Nasdaq composite index added 49.36, or 2.16 percent, to 2,335.40.

Bond prices fell as stocks looked more attractive. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.66 percent from 3.57 percent late Tuesday.

Oil prices -- which crossed $114 for the first time on Tuesday -- rose after a government report showed crude-oil inventories fell unexpectedly last week for the second straight period. Light, sweet crude added 15 cents to $113.94 a barrel on the New York Mercantile Exchange.

Gold prices rose, and the dollar was mostly lower against other major currencies.

JPMorgan rose $2.08, or 4.9 percent, to $44.20 after issuing its quarterly report. Chief Executive Jamie Dimon said the bank is well capitalized and has enough liquidity to handle difficult market conditions, but did not call an end to the credit crisis like other bank CEOs have in recent weeks.

Bank of America Corp. rose $1.10, or 3.1 percent, to $36.69, while Wells Fargo Corp., which also beat earnings expectations, rose $1.44, or 5.2 percent, to $29.24.

"We got a nice rally here and that's because of the financials, they are holding their gains," said Todd Leone, managing director of equity trading at Cowen & Co. "They have helped out the market and are a real driver."

Dow component Intel rose $1.23, or 5.9 percent, to $22.13 after reporting late Tuesday that quarterly profit matched analysts' expectations and sales topped projections. Intel also issued a forecast that kept profit-margin predictions for 2008 intact.

Meanwhile, Coca-Cola reported first-quarter profit of 19 percent on a 21 percent increase in sales. Results easily surpassed Wall Street expectations, and shares rose 13 cents to $61.07.

Wall Street had little reaction to a new batch of disappointing economic data, and by comments from Federal Reserve Bank of San Francisco President Janet Yellen that the economy has stalled. Many investors have already tempered their expectations about the economy, and were not surprised by more bad news.

Government data showed that consumer inflation pushed higher last month as increases in energy, food and airline tickets overwhelmed the biggest drop in clothing prices in nearly a decade. The Labor Department reported consumer prices rose 0.3 percent in March after being unchanged in February.

Core inflation, which excludes food and energy, posted a 0.2 percent rise. Both the overall increase and the rise in core prices were in line with analysts' expectations.

Meanwhile, home construction plummeted during March to its lowest level in 17 years, the government said in a report signaling that the housing sector will continue slumping. Housing starts decreased 11.9 percent to a seasonally adjusted 947,000 annual rate, after falling 0.7 percent in February to 1.075 million, according to the Commerce Department.

The Russell 2000 index of smaller companies rose 15.57, or 2.25 percent, to 707.63.

Advancing issues led decliners by a 3 to 1 basis on the New York Stock Exchange, where volume came to 759 million shares.

Overseas, Japan's Nikkei stock average rose 1.20 percent. Britain's FTSE 100 rose 2.36 percent, Germany's DAX index was up 1.79 percent, and France's CAC-40 added 1.56 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

All Ordinaries: 5,587.4 only UP 52.8 points at 3:44 PM
-- I would have expected the All Ordinaries to be much higher than 52.8 points!!!!!!!!!!

The NYSE DOW closed HIGHER by +256.80 points +2.08% on Wednesday April 16

Sym Last........ ........Change..........
Dow 12,619.27 +256.80 +2.08%
Nasdaq 2,350.11 +64.07 +2.80%
S&P 500 1,364.71 +30.28 +2.27%
30-yr Bond 4.5250% 0.0000

NYSE Volume 4,261,347,500
Nasdaq Volume 2,151,148,500

http://biz.yahoo.com/ap/080416/wall_street.html
Wall Street surges higher after upbeat earnings reports
Wednesday April 16, 5:54 pm ET
By Joe Bel Bruno, AP Business Writer
Stocks stage big rally after earnings from Intel, JPMorgan, Coca-Cola ease profit anxiety

NEW YORK (AP) -- Wall Street rallied Wednesday after better-than-expected quarterly results from JPMorgan Chase and two other Dow Jones industrials raised investors' hopes that companies and the economy are indeed recovering from the protracted global credit crisis. The Dow rose more than 250 points as investors shrugged off any concerns about oil passing $115 a barrel for the first time.

A market anxious about corporate earnings and their effect on the economy was relieved after JPMorgan Chase & Co., Coca-Cola Co. and Intel Corp. all topped first-quarter projections. The three companies are among dozens posting quarterly results Wednesday.

The battered financial sector advanced after JPMorgan beat analysts' expectations despite a 50 percent drop in quarterly profit. The nation's third-biggest bank, which is in the process of acquiring ailing Bear Stearns Cos., reported $2.6 billion of write-downs tied to its loan portfolio.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER by +228.87 points +1.81% on Friday April 18

Sym Last........ ........Change..........
Dow 12,849.36 +228.87 +1.81%
Nasdaq 2,402.97 +61.14 +2.61%
S&P 500 1,390.33 +24.77 +1.81% Wall Street jumps as investors weigh Citi, Google results
Friday April 18, 5:28 pm ET
By Tim Paradis, AP Business Writer
Stocks jump as investors find relief in Citigroup, Google first-quarter results


NEW YORK (AP) -- Wall Street topped off a strong week with a big rally Friday, after results from companies like Citigroup Inc. and Google Inc. helped ease investor anxiety about the health of corporate profits.

Investors have been worried that recent data indicate a slowing economy, which would cut into profit growth at some of the nation's biggest companies. But, results so far have shown that earnings, for the most part, are meeting or beating expectations, and the major indexes all posted gains of more than 4 percent for the week.

Citigroup, the nation's biggest bank, encouraged investors with results that didn't contain any big surprises. The New York-based bank reported a loss of $5.1 billion during the first quarter because of poor bets on mortgages and leveraged loans, but the loss was half the $10 billion recorded for the preceding quarter.

Google helped boost investor sentiment, as well as the tech-heavy Nasdaq composite index, by reporting first-quarter earnings and revenue growth that handily topped analysts' predictions.

"This is the first week of earnings reports, and the marquee companies in general have been able to report good earnings, and the banks have been able to raise capital, and the market is responding to that," said Subodh Kumar, global investment strategist at Subodh Kumar & Assoc. in Toronto.

The Dow Jones industrial average jumped 228.87, or 1.81 percent, to 12,849.36.

Broader stock indicators also showed sizable advances. The Standard & Poor's 500 index increased 24.77, or 1.81 percent, to 1,390.33, and the Nasdaq rose 61.14, or 2.61 percent, to 2,402.97.

Advancing issues outnumbered decliners by more than 3 to 1 on the New York Stock Exchange, where volume came to 1.48 billion shares compared with 1.23 billion shares traded Thursday.

The gains come at the end of a big week for stocks. After a quiet start to the week, the major indexes surged more than 2 percent Wednesday after JPMorgan Chase & Co., Intel Corp. and Coca-Cola Co. reported better-than-expected profits. Stocks then finished mixed Thursday, largely holding their gains. For the week, the Dow rose 4.25 percent, the S&P 500 gained 4.31 percent and the Nasdaq jumped 4.92 percent.

Bond prices rose after initially declining when stocks rallied. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.71 percent from 3.73 percent late Thursday.

And investors appeared unfazed by the latest spike in energy prices. Oil jumped to $117 a barrel for the first time when a militant group in Nigeria said it sabotaged a major oil pipeline.

Light, sweet crude for May delivery rose to a new trading record of $117 in after-hours electronic trading Friday, after settling up $1.83 at a record $116.69 a barrel on the New York Mercantile Exchange. It was the fifth day in a row crude prices set new records.

Meanwhile, a survey of gas stations by AAA and the Oil Price Information Service found that the national average price of regular gas rose 2.7 cents overnight to a record $3.445 a gallon.

Gold prices fell, while the dollar was mixed against other major currencies.

Kumar contends that while investors appear upbeat following the stronger-than-expected quarterly reports, Wall Street will likely still bounce around for some time as it tries to get a read on the fate of the economy.

"The market is trying to find a bottom and that's why you're seeing these volatile days," he said. "I think before one can say that the markets are ready to make a sustained move upward, you have to look at the negative side," he said, pointing to high prices for oil and food.

He also emphasized that it was still early in the earnings-reporting period.

Doug Roberts, chief investment strategist at Channel Capital Research, also believes the market is engaged in the sometimes messy process of establishing a base.

"My sense is, at least short term, we've reached some kind of a bottom," he said. "There was just so much pessimism built into everything."

Unease did appear to dissipate. Wall Street's "fear index" -- the Chicago Board Options Exchange's volatility index -- declined 1.2 percent Friday.

On a day with little economic news, corporate reports peeled away some of Wall Street's worries.

Citigroup closed up $1.08, or 4.5 percent, to $25.11, while Google surged $89.87, or 20 percent, to $539.41 after the companies issued their reports.

Heavy equipment maker Caterpillar Inc. rose $6.69, or 8.5 percent, to $85.28 after reporting that demand for its global mining and energy products drove first-quarter earnings up a better-than-expected 13 percent. The company also affirmed its 2008 forecast.

The Russell 2000 index of smaller companies rose 13.07, or 1.9 percent, to 721.07.

Overseas, Japan's Nikkei stock average rose 0.58 percent. Britain's FTSE 100 finished up 1.27 percent, Germany's DAX index rose 2.41 percent, and France's CAC-40 rose 2.05 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com



30-yr Bond 4.5170% -0.0070

NYSE Volume 4,223,199,000
Nasdaq Volume 2,232,615,750

http://biz.yahoo.com/ap/080418/wall_street.html

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed LOWER by -104.79 points -0.82% on Tuesday April 22

Wall Street pulled back Tuesday, with the Dow Jones industrials tumbling more than 100 points as a rush of quarterly results from bellwethers like AT&T Inc., DuPont and McDonald's Corp. failed to impress investors. Oil prices also reached fresh highs, raising concerns about inflation.

Sym Last........ ........Change..........
Dow 12,720.23 -104.79 -0.82%
Nasdaq 2,376.94 -31.10 -1.29%
S&P 500 1,375.94 -12.23 -0.88%
10 Yr Bond(%) 3.7200% +0.0080

Overseas,
Japan's Nikkei stock average closed down 1.09 percent. In afternoon trading, Britain's FTSE 100 fell 0.30 percent, Germany's DAX index fell 0.86 percent, and France's CAC-40 lost 0.77 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,034.70 -18.30 -0.30%
DAX 6,728.30 -58.25 -0.86%
CAC 40 4,872.64 -37.71 -0.77%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 13,547.82 -148.73 -1.09%
Hang Seng 24,939.15 +217.48 +0.88%

http://biz.yahoo.com/ap/080422/wall_street.html
Stocks decline as oil rises, Street examines earnings
Tuesday April 22, 5:40 pm ET
By Joe Bel Bruno, AP Business Writer
Stocks trade lower as oil rises, Street examines quarterly reports; DuPont, McDonald's decline

NEW YORK (AP) -- Wall Street pulled back Tuesday, with the Dow Jones industrials tumbling more than 100 points as a rush of quarterly results from bellwethers like AT&T Inc., DuPont and McDonald's Corp. failed to impress investors. Oil prices also reached fresh highs, raising concerns about inflation.

AT&T's earnings met Wall Street's forecast while McDonald's and DuPont reported stronger-than-expected numbers. But DuPont said a U.S. slowdown will offset growth abroad and McDonald's said an important metric of its sales showed a decline for March. All three companies are among the 30 stocks that make up the Dow.

The comments gave trading a cautious tone. With hundreds of companies still to report results, investors are anxious over what the figures might say about the prospects for the economy.

"We've melted here, but it isn't a plunge," said Art Hogan, chief market analyst at Jefferies & Co. "We're in a day-to-day assessment of how good earnings season is, and right now there's more bad news than good news -- the parade has been less positive than we've anticipated."

Investors appeared little moved by news of continued weakness in the housing sector. Sales of existing homes fell 2 percent in March to a seasonally adjusted annual rate of 4.93 million units, while the median sales price dropped for a seventh straight month. The National Association of Realtors also said sales rose in the Northeast and West but fell in the Midwest and South.

But oil's seemingly relentless march higher this year raises the specter of higher inflation that would lead consumers to cut back their discretionary spending. It would also make the Federal Reserve less likely to keep lowering interest rates.

Light, sweet crude for May delivery rose as high as $119.90 barrel, then slipped back to settle at $119.37, up $1.89. But it appeared inevitable crude would pass $120.

The Dow fell 104.79, or 0.82 percent, to 12,720.23.

Broader stock indicators also declined. The Standard & Poor's 500 index fell 12.23, or 0.88 percent, to 1,375.94, and the Nasdaq composite index fell 31.10, or 1.29 percent, to 2,376.94.

Bond prices edged up. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.69 percent from 3.72 percent late Monday. The dollar was mixed against other major currencies, while gold prices rose.

Some of the latest earnings reports appeared to confirm concerns about the economy, analysts said.

"It takes a while for the economy's situation to work its way down to the companies," said Alexander Paris, economist and market analyst for Chicago-based Barrington Research. "What's going on is earnings are reflecting the reality of a slowing economy, and that should go on until the second half of the year."

Late Monday, Texas Instruments Inc. warned of a weak market for the chips it makes for high-end mobile phones. The company's results were nearly in line with Wall Street's expectations, however. The stock fell $1.77, or 5.8 percent, to $28.82.

In other corporate news, CIT Group Inc. fell $1.99, or 15.6 percent, to $10.75 after the financial services company said it would raise $1.5 billion from an offering of common and preferred stock. The company has been hit by strains in the mortgage and credit markets.

AT&T rose 22 cents to $37.81 after reporting that its first-quarter earnings rose 22 percent following growth in the company's wireless division and as its enterprise services business saw a reversal of an earlier decline.

DuPont said profits jumped 26 percent as the chemical company saw higher sales and benefits from the weak dollar. But the company's comments about the U.S. market appeared to weigh on the stock, which fell $2.09, or 4 percent, to $50.16.

McDonald's slipped 32 cents to $58.35 after saying its first-quarter earnings grew 24 percent. The fast food chain benefited from the weak U.S. dollar and strong global sales. However, it also said its same-stores sales, or sales at restaurants open at least a year, declined in March.

The rising price of oil again sent energy stocks higher. Exxon Mobil Corp. rose 13 cents to $94.39, while Chevron Corp. rose $1.33 to $94.03.

Declining issues outnumbered advancers by about 3 to 1 on the New York Stock Exchange, where volume came to 1.33 billion shares.

The Russell 2000 index of smaller companies fell 14.29, or 1.99 percent, to 703.71.

Overseas, Japan's Nikkei stock average closed down 1.09 percent. In afternoon trading, Britain's FTSE 100 fell 0.30 percent, Germany's DAX index fell 0.86 percent, and France's CAC-40 lost 0.77 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER by +42.99 points +0.34% on Wednesday April 23

Wall Street ended a choppy session with a moderate advance Wednesday after a better-than-expected profit report at Boeing Co. and a seesaw day in the energy markets.

Sym Last........ ........Change..........
Dow 12,763.22 +42.99 +0.34%
Nasdaq 2,405.21 +28.27 +1.19%
S&P 500 1,379.93 +3.99 +0.29%
30-yr Bond 4.4850% +0.0100

NYSE Volume 4,017,946,000
Nasdaq Volume 2,139,982,000

Overseas,
Japan's Nikkei stock average gained 0.23 percent. Britain's FTSE 100 rose 0.81 percent, Germany's DAX index rose 0.99 percent, and France's CAC-40 rose 1.48 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,083.60 +48.90 +0.81%
DAX 6,795.03 +8.48 +0.12%
CAC 40 4,944.65 +72.01 +1.48%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 13,579.16 +31.34 +0.23%
Hang Seng 25,289.24 +350.09 +1.40%

http://biz.yahoo.com/ap/080423/wall_street.html
Stocks rise as Street parses earnings, oil gyrates
Wednesday April 23, 4:32 pm ET
By Tim Paradis, AP Business Writer
Stocks rise as investors sort through earnings reports and oil hovers near record highs

NEW YORK (AP) -- Wall Street ended a choppy session with a moderate advance Wednesday after a better-than-expected profit report at Boeing Co. and a seesaw day in the energy markets.

Boeing, one of the 30 stocks that comprise the Dow Jones industrial average, reported a 38 percent jump in first-quarter earnings. The airplane manufacturers' results, along with stronger-than-anticipated forecasts at chip makers Broadcom Corp. and Anadigics Inc., appeared to buoy investor sentiment about the first-quarter earnings season.

Investors also reacted positively to Liberty Mutual's plans to acquire another insurance company, Safeco. The $6.12 billion deal -- which would create the country's fifth-biggest property insurer -- sent Safeco shares surging $20.71, or 46 percent, to $65.94.

Still, the stock market's movements were somewhat erratic Wednesday, as investors concerned about inflation kept an eye on fluctuating oil prices. Oil initially pulled back but then rebounded again, as the government reported a rise in crude inventories but a drop in gasoline stockpiles. A day earlier, a record high price for oil had helped send shares skidding.

"I think you're just going to get continued volatility," said Kevin Shacknofsky, co-portfolio manager of the Alpine Dynamic Dividend Fund in Purchase, N.Y. He cited investors' concerns not only about rising energy prices, but also the health of the financial sector.

According to preliminary calculations, the Dow rose 42.99, or 0.34 percent, to 12,763.22, after spiking 117 points, giving up those gains to trade down 17 points, and then recovering some ground.

Broader stock indicators also closed higher. The Standard & Poor's 500 index rose 3.99, or 0.29 percent, to 1,379.93. The technology-heavy Nasdaq composite index logged a more sizable advance, rising 28.27, or 1.19 percent, to 2,405.21.

Light, sweet crude for June delivery rose 23 cents to settle at $118.30 a barrel on the New York Mercantile Exchange, while gasoline touched all-time highs. On Tuesday, May crude futures hit a trading record of $119.90.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.74 percent from 3.69 percent late Tuesday.

The dollar was mixed against other major currencies, while gold prices fell.

Bill Schultz, chief investment officer at McQueen, Ball & Associates in Bethlehem, Pa., said quarterly results so far haven't given investors enough insight into what will drive profit growth in the coming quarters.

"Where does this earnings growth come from going forward? Maybe we haven't seen the last of the subprime problem or the consumer slowdown," he said. "I think people are just struggling to determine what is going to be the catalyst."

He also said investors are worried about rising energy prices weighing on consumer spending, which accounts for about 70 percent of U.S. economic activity.

"You have concerns now that the higher gas prices will exacerbate the slowdown," he said.

Wall Street has been digesting the flood of corporate numbers arriving in recent weeks as it tries to ascertain how long a slowdown in the economy might last. With little in the way of economic news expected this week, investors are left to concentrate on corporate news and await the next interest rate decision from the Federal Reserve, which is due in a week.

Boeing rose $3.53, or 4.5 percent, to $82.09 after its earnings report. Broadcom rose $3.84, or 16.3 percent, to $27.39, while Anadigics jumped $2.76, or 33.1 percent, to $11.09.

Some corporate results arriving Wednesday painted a lackluster picture, however. Bond insurer Ambac Financial Group declined $2.47, or 41 percent, to $3.56 after it said it swung to a loss of $1.66 billion from a profit of $213.3 million a year earlier. The loss came in part because of charges for bonds backed by soured mortgages.

Advancing issues outpaced decliners by about 8 to 7 on the New York Stock Exchange, where volume came to a 1.35 billion shares.

The Russell 2000 index of smaller companies rose 4.40, or 0.63 percent, to 708.11.

Overseas, Japan's Nikkei stock average gained 0.23 percent. Britain's FTSE 100 rose 0.81 percent, Germany's DAX index rose 0.99 percent, and France's CAC-40 rose 1.48 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The NYSE DOW closed HIGHER by +85.73 points +0.67% on Thursday April 24

Wall Street rallied Thursday after the government's jobless claims data and Ford Motor Co.'s first-quarter results helped reinject some optimism about the economy into the market.

Sym Last........ ........Change..........
Dow 12,848.95 +85.73 +0.67%
Nasdaq 2,428.92 +23.71 +0.99%
S&P 500 1,388.82 +8.89 +0.64%
30-yr Bond 4.5440% +0.0590

NYSE Volume 4,462,689,500
Nasdaq Volume 2,352,640,500

Overseas
Japan's Nikkei stock average fell 0.28 percent. Britain's FTSE 100 closed down 0.54 percent, Germany's DAX index rose 0.39 percent, and France's CAC-40 fell 0.31 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,050.70 -32.90 -0.54%
DAX 6,821.32 +26.29 +0.39%
CAC 40 4,929.55 -15.10 -0.31%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 13,540.87 0.00 0.00%
Hang Seng 25,680.78 0.00 0.00%

http://biz.yahoo.com/ap/080424/wall_street.html
Wall Street rises after drop in jobless claims, Ford results
Thursday April 24, 5:54 pm ET
By Tim Paradis, AP Business Writer
Stocks rise on jobless claims drop, Ford's 1Q; Dow closes up 86 at 12,849; Nasdaq ends up 24

NEW YORK (AP) -- Wall Street rallied Thursday after the government's jobless claims data and Ford Motor Co.'s first-quarter results helped reinject some optimism about the economy into the market.

The Dow Jones industrial rose more than 80 points as investors focused on the Labor Department data showing weekly unemployment claims dropped and word that Ford had a $100 million profit in the first quarter. The news allowed investors to look past the Commerce Department's report that new home sales fell in March to the lowest level in more than 16 years, a sign that the housing slump isn't close to an end.

Investors were also able to set aside any concerns about another drop in factory orders for big-ticket manufactured goods and weak forecasts from Amazon.com Inc. and Starbucks Corp. Meanwhile, oil and other commodities prices fell as the dollar rose to its highest level against major currencies since January, which also helped boost stocks.

Sellers held sway early in the session, sending the Dow down nearly 57 points, after the home sales report. The data appeared to stir concerns that the hangover from the housing bubble would remain an intractable obstacle for the economy. But as the session wore on, the market righted itself, perhaps because there were no real surprises in the day's negative news.

John Merrill, chief investment officer at Tanglewood Capital Management in Houston, said investors are seeing confirmation of many of the economic themes that have played out in recent months, with weakness in the financial, homebuilding and automotive sectors and relative strength elsewhere.

"The earnings picture is not so bleak as people though it was going to be," he said. "There's been so much talk of the spillover from the credit crunch and homebuilding into the real economy and that just doesn't seem to have happened."

The Dow rose 85.73, or 0.67 percent, to 12,848.95.

Broader stock indicators also gained. The Standard & Poor's 500 index rose 8.89, or 0.64 percent, to 1,388.82, and the Nasdaq composite index advanced 23.71, or 0.99 percent, to 2,428.92.

Bond prices declined. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.83 percent from 3.74 percent on Wednesday.

Advancing issues outnumbered decliners by about 2 to 1 on the New York Stock Exchange, where consolidated volume came to 4.34 billion shares, up from 3.81 billion on Wednesday.

The dollar rose for the second straight day, regaining ground from its record low against the euro on Tuesday amid rising expectations that the Federal Reserve will pause in its string of interest rate hikes following its meeting next Wednesday. The euro brought $1.5686 in late New York trading, down from $1.5896 Wednesday and $1.6018 on Tuesday.

The greenback's advance sent commodities prices falling; hard assets like oil and gold tend to rise when the dollar is falling, so they reversed course Thursday as the U.S. currency regained some strength.

A drop in oil prices was particularly reassuring for Wall Street. Crude's surge toward $120 a barrel earlier this week compounded already rising concerns about inflation and its impact on consumer spending. Light, sweet crude fell $2.24 to settle at $116.06 on the New York Mercantile Exchange.

The Labor Department's report that claims for unemployment benefits declined by 33,000 last week to 342,000 came as a surprise after economists predicted claims would rise by 3,000. The notion that unemployment might be contained appeared to cap some concern about the economy. With consumer spending accounting for about 70 percent of U.S. economic activity, a rise in unemployment could dent people's willingness to reach into their wallets.

But unwelcome news came from the Commerce Department, which said new home sales fell by 8.5 percent in March to a seasonally adjusted annual rate of 526,000 units -- the slowest pace since October 1991. Also, the median price of a new home showed the sharpest year-over-year decline in nearly four decades.

Moreover, orders to factories for durable goods -- big-ticket items like refrigerators, cars and computers -- fell for a third straight month in March. This marks the longest sustained pullback since the 2001 recession.

Amazon had worried investors over the strength of its profit margins, while Starbucks warned that its second-quarter profit will likely fall short of Wall Street's expectations because of weak consumer spending.

Their forecasts, delivered after the closing bell Wednesday, touched off unease over the prospects for the consumer. Amazon fell $3.31, or 4.1 percent, to $77.69, while Starbucks dropped $1.86, or 11 percent, to $15.99.

But Ford said strong results from Europe and South America helped make up for a slower U.S. economy. The No. 2 U.S.-based automaker's performance was its first profitable quarter since the second quarter of 2007. Ford rose 88 cents, or 12 percent, to $8.40.

3M Co. -- the maker of Scotch tape and Post-It notes -- fell $1.50 to $79.13 after reporting its first-quarter profit fell 28 percent from a year earlier, when it benefited from a gain on the sale of one of its branded pharmaceutical business in Europe.

Motorola Inc. slid 30 cents, or 3.1 percent, to $9.25 after reporting that its first-quarter loss widened following a 39 percent decline in its mobile business.

The Russell 2000 index of smaller companies rose 8.96, or 1.27 percent, to 717.07.

Overseas, Japan's Nikkei stock average fell 0.28 percent. Britain's FTSE 100 closed down 0.54 percent, Germany's DAX index rose 0.39 percent, and France's CAC-40 fell 0.31 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com

 

[CAFA1234]

What you fail to mention is that the intraday high was just a tad short of 13,000 - if it breaks 13,000 on Friday then we could be in for one hell of a ride.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

The Dow Jones industrial average gained 42.91, or 0.33 percent, to 12,891.86, after falling more than 100 points earlier in the session. The Dow closed the week with a gain of less than 1 percent and for the week, the Nasdaq gained 1.4 percent.

The NYSE DOW closed HIGHER by +42.91 points +0.33% on Friday April 25

Sym Last........ ........Change..........
Dow 12,891.86 +42.91 +0.33%
Nasdaq 2,422.93 -5.99 -0.25%
S&P 500 1,397.84 +9.02 +0.65%
30-yr Bond 4.5890% +0.0450

NYSE Volume 3,831,665,000
Nasdaq Volume 2,000,076,620

Overseas,
Japan's Nikkei stock average closed up 2.28 percent. Britain's FTSE 100 rose 0.67 percent, Germany's DAX index advanced 1.10 percent, and France's CAC-40 rose 0.99 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,091.40 +40.70 +0.67%
DAX 6,896.58 +75.26 +1.10%
CAC 40 4,978.21 +48.66 +0.99%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 13,863.47 +322.60 +2.38%
Hang Seng 25,516.78 -164.00 -0.64%

http://biz.yahoo.com/ap/080425/wall_street.html
Stocks mostly up as investors overcome economic worries
Friday April 25, 5:29 pm ET
By Eileen Aj Connelly, AP Business Writer
Stocks end mostly higher as investors overcome economic worries; Microsoft weighs on tech

NEW YORK (AP) -- Wall Street ended its second straight winning week with a moderate advance Friday, overcoming concerns about consumer confidence and inflation.

After slumping early in the session in response to weak consumer confidence and a spike in oil prices, investors seemed to turn their attention to broader signs, including the week's generally satisfactory earnings reports, that suggested that government efforts to steady the economy appear to be working. That shift in focus sent stocks up late in the day.

Although the Reuters/University of Michigan consumer sentiment index came in with its lowest reading since the early 1980s, Tom Lydon, president of Global Trends Investments in Newport Beach, Calif., said companies' first-quarter reports convinced investors that "overall, things aren't all that bad."

"I think a lot of people went into the weekend feeling they didn't want to be on the short side," Lydon said.

The consumer sentiment index fell to 62.6 for April from 69.5 a month earlier, reflecting Americans' concern about rising energy and food prices.

While consumer spending represents about 70 percent of the economy, UBS equities strategist David Bianco said "it's the wrong thing to be looking at to gauge the prospects" for the Standard & Poor's 500 companies.

"Business activity is strong in the U.S. and especially globally," he said. "That's far more important."

The Dow Jones industrial average gained 42.91, or 0.33 percent, to 12,891.86, after falling more than 100 points earlier in the session. The Dow closed the week with a gain of less than 1 percent.

Broader stock indicators were mixed on the day. The S&P 500 index gained 9.02, or 0.65 percent, to 1,397.84, and rose 2.1 percent for the week.

The Nasdaq composite index, depressed by disappointment with a Microsoft Corp. forecast, fell 5.99, or 0.25 percent, to 2,422.93, after dropping as much as 1.6 percent during the session. But advancers were well ahead of decliners in the broader Nasdaq Stock Market, and for the week, the Nasdaq gained 1.4 percent.

Advancing issues outpaced decliners by 2 to 1 on the New York Stock Exchange, where volume came to 1.28 billion shares.

Bond prices fell ahead of the Federal Reserve's meeting on interest rates next Wednesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.87 percent from 3.83 percent late Thursday.

Oil prices, meanwhile, jumped on a series of troubling events overseas, including word that a ship under contract with the U.S. Navy fired flares and warning shots at two small boats of unknown origin in the Persian Gulf. Oil was up earlier following an attack on a pipeline in Nigeria and a looming refinery strike in Scotland; light, sweet crude shot as high as $119.50 a barrel on the New York Mercantile Exchange before falling back to settle at $118.52, up $2.46.

Craig Hester, chief executive at Hester Capital Management in Austin, Texas, said stocks will likely fluctuate as investors digest corporate results from this week and while they await the Fed rate decision.

"The big risks I see for stocks right now are earnings," he said, adding that next week's economic data should also help give investors a better picture, with reports due on the nation's gross domestic product and employment.

Investors could also get further insights into the health of the consumer next week with reports due from names like Tyson Foods Ind., Kellogg Co., Kraft Foods Inc., Burger King Holdings Inc. and Procter & Gamble Co.

But so far, "the earnings have come in on the financial side pretty much where people expected and in terms of the industrial side a little bit better than expected," said Charlie Smith, chief investment officer at Fort Pitt Capital Group in Pittsburgh. "Consumers were a little bit weaker than expected. So you net all those together and the earnings season is turning out as people thought it would before it started."

Microsoft fell $1.97, or 6.2 percent, to $29.83, after its first-quarter report. The tech leader said after the closing bell Thursday that worldwide sales next year should offset weakness in the U.S. economy.

Goodyear Tire & Rubber Co. rose $1.66, or 6.1 percent, to $28.91 after posting a first-quarter profit amid increased revenue. The tiremaker, which reported a loss for the same period a year earlier, said it focused on higher-priced tires and international markets.

American Express Co. rose $2.59, or 5.7 percent, to $47.77 after reporting its first-quarter earnings fell 6 percent as more U.S. cardholders failed to make their payments. The credit card lender's total provisions for credit losses jumped 48 percent from a year earlier to $1.27 billion. However, the company said cardholders are continuing to spend and that strength abroad has helped make up for troubles in the U.S.

The Russell 2000 index of smaller companies rose 4.81, or 0.67 percent, to 721.88.

Overseas, Japan's Nikkei stock average closed up 2.28 percent. Britain's FTSE 100 rose 0.67 percent, Germany's DAX index advanced 1.10 percent, and France's CAC-40 rose 0.99 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com​

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com
Source: http://money.cnn.com/data/world_markets/index.html

Wall Street finished little changed Monday as investors turned cautious ahead of the Federal Reserve's two-day policy meeting, which starts Tuesday.

Stocks fluctuated most of the morning before turning higher for much of the day. Stocks then pulled back modestly in the final minutes of trading.


The NYSE DOW closed LOWER by -20.11 points -0.16% on Moniday April 28

Sym Last........ ........Change..........
Dow 12,871.75 -20.11 -0.16%
Nasdaq 2,424.40 +1.47 +0.06%
S&P 500 1,396.37 -1.47 -0.11%
30-yr Bond 4.5650% -0.0240

NYSE Volume 3,553,965,250
Nasdaq Volume 1,783,166,000

Overseas,
Japan's Nikkei stock average rose 0.22 percent. Britain's FTSE 100 closed down 0.02 percent, Germany's DAX index added 0.42 percent, and France's CAC-40 rose 0.69 percent.

Europe
Symbol... Last...... .....Change.......
FTSE 100 6,090.40 -1.00 -0.02%
DAX 6,925.33 +28.75 +0.42%
CAC 40 5,012.75 +34.54 +0.69%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 13,894.37 +30.90 +0.22%
Hang Seng 25,666.29 +149.51 +0.59%
Straits Times 3,206.47 +17.27 +0.54%

http://biz.yahoo.com/ap/080428/wall_street.html
Stocks finish little changed ahead of Fed rate meeting
Monday April 28, 4:42 pm ET
By Joe Bel Bruno, AP Business Writer
Wall Street finishes little changed as investors position ahead of Fed meeting, earnings

NEW YORK (AP) -- Wall Street finished little changed Monday as investors turned cautious ahead of the Federal Reserve's two-day policy meeting, which starts Tuesday.

Stocks fluctuated most of the morning before turning higher for much of the day. Stocks then pulled back modestly in the final minutes of trading.

Investors' appeared to be waiting for the Fed to make the next move. Policymakers are widely expected to cut interest rates by a quarter point on Wednesday, then leave them steady for the balance of the year to help ward off inflation.

The session's modest moves came despite one of the most active days for acquisitions in almost three months. The biggest deal was the Warren Buffett and candy maker Mars Inc. offer to buy Wm. Wrigley Jr. Co. for about $23 billion in cash. Meanwhile, billionaire Kirk Kerkorian plans to make an offer that would expand his stake in Ford Motor Co. to 5.6 percent, saying he sees signs the automaker's turnaround plan is working.

This helped to offset disappointment in the market that struggling Continental Airlines Inc. said it would not pursue a combination with another carrier right away. It was a surprising move after weeks of speculation it would join with United Airlines to create the world's biggest carrier.

But investors appeared focused on the Fed.

"Investors are holding their breath for the Fed, and not even these high-profile deals are shaking people off of their hands," said Jack A. Ablin, chief investment officer at Harris Private Bank. "The direction of Fed policy hangs in the balance, and there are people like me that hope the central bank quits sooner rather then later."

According to preliminary calculations, the Dow Jones industrial average fell 20.11, or 0.16 percent, to 12,871.75.

Broader indexes were mixed. The Standard & Poor's 500 index slipped 1.47, or 0.11 percent, to 1,396.37, and the Nasdaq composite index rose 1.47, or 0.06 percent, to 2,424.40.

Bond prices edged higher after suffering big losses last week. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.82 percent from 3.87 percent late Friday.

Crude spiked to near $120 a barrel in overnight trading amid supply concerns, then gave up some gains to settle up 23 cents at $118.75 a barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies, while gold prices were higher.

In corporate news, Kerkorian's investment company, Tracinda Corp., said it plans to offer $8.50 per share in cash for up to 20 million additional shares of Ford. Ford rose 71 cents, or 9.5 percent, to $8.21.

Continental Airlines shares fell 26 cents to $16.96 after the airline announced it wasn't interested in completing a deal. The decision stunned United's parent, UAL Corp., which had been in advanced talks with Continental and expected to complete a deal by early May.

United shares fell 40 cents, or 2.6 percent, to $14.81.

Some observers saw the dealmaking as an encouraging sign that companies are still willing to make mergers and acquisitions happen -- and that many might do so while valuations still look cheap.

"What is happening is that people are thinking the Fed is keeping the economy going, and this is a good opportunity to do some inexpensive shopping," said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York. "There has been a bit of a concern over the past few months that we haven't been seeing enough M&A."

In other corporate news, health insurer Humana said that increased Medicare Advantage membership helped drive its first-quarter profit above Wall Street's expectations. The company also raised its forecast for the year. The stock rose $1.50, or 3.3 percent, to $46.38.

The Russell 2000 index of smaller companies advanced 3.49, or 0.48 percent, to 725.37.

Advancing issued outpaced decliners by about a 3-to-2 margin on the New York Stock Exchange, where volume came to 1.21 billion shares compared with 1.45 billion shares traded Friday.

Overseas, Japan's Nikkei stock average rose 0.22 percent. Britain's FTSE 100 closed down 0.02 percent, Germany's DAX index added 0.42 percent, and France's CAC-40 rose 0.69 percent.

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com