NYSE Dow Jones finished today at:

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Bad economic news and doubts about the market's ability to rally dealt stocks a huge setback.

The Dow Jones industrials fell 187 points Monday, their biggest drop since April 20. All the major market indexes fell more than 2 percent.

Trading volume was light, suggesting an absence of buyers rather than a flood of sellers rushing to dump stocks, but the pullback nonetheless was another sign that the market's spring rally has stalled.

The slide began in Asia and Europe and spread to the U.S. as a strong dollar pushed commodities prices sharply lower. Stocks of energy and materials producers have been lifting the market in the past month so the drop in prices left stocks without an important leg of support.


The NYSE DOW closed LOWER -187.13 points -2.13% on Monday June 15
Sym Last........ ........Change..........
Dow 8,612.13 -187.13 -2.13%
Nasdaq 1,816.38 -42.42 -2.28%
S&P 500 923.72 -22.49 -2.38%
30-yr Bond 4.5550% -0.0780

NYSE Volume 5,605,944,500 (prior day 5,198,557,000)
Nasdaq Volume 2,204,651,000 (prior day 2,065,456,125)


Europe
Symbol... Last...... .....Change.......
FTSE 100 4,326.01 -115.94 -2.61%
DAX 4,889.94 -179.30 -3.54%
CAC 40 3,219.58 -106.56 -3.20%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,039.67 -96.15 -0.95%
Hang Seng 18,498.96 -390.72 -2.07%
Straits Times 2,316.56 -60.51 -2.55%

http://finance.yahoo.com/news/Stock...82.html?sec=topStories&pos=main&asset=&ccode=

Stocks tumble as stronger dollar hits commodities

Stocks slide as stronger dollar upends strength in commodities, materials; Dow falls 187
Tim Paradis, AP Business Writer
On Monday June 15, 2009, 6:12 pm EDT

NEW YORK (AP) -- Bad economic news and doubts about the market's ability to rally dealt stocks a huge setback.

The Dow Jones industrials fell 187 points Monday, their biggest drop since April 20. All the major market indexes fell more than 2 percent.

Trading volume was light, suggesting an absence of buyers rather than a flood of sellers rushing to dump stocks, but the pullback nonetheless was another sign that the market's spring rally has stalled.

The slide began in Asia and Europe and spread to the U.S. as a strong dollar pushed commodities prices sharply lower. Stocks of energy and materials producers have been lifting the market in the past month so the drop in prices left stocks without an important leg of support.

Meanwhile, new worries about the economy emerged after an index of manufacturing in New York indicated that demand weakened in June. The weaker report from the Federal Reserve Bank of New York ran counter to the gradual improvement traders have grown accustomed to with other economic readings.

Analysts said stocks are also losing ground because investors are questioning what it will take to move the market higher. Ahead of Monday's slide, the S&P 500 had jumped 39.9 percent since skidding to a 12-year low on March 9. Investors have been betting on an economic recovery but questions about how long that might take are poking holes in the rally.

The unease about the economy's recovery have kept stocks from rising as quickly in recent weeks as they did in March and April. The Dow and the S&P 500 index are up 12 of the past 14 weeks, and the last four straight weeks. But traders are having a harder time wringing advances from stocks as questions remain about whether unemployment, still-weak home prices and inflation will trip up a resurgence in the economy.

Harry Rady, chief executive of Rady Asset Management, said stocks have risen too fast given how troubled the economy remains. "The market just seems to keep driving the car into the wall and then wonders why it can't keep driving," Rady said.

The Dow fell 187.13, or 2.1 percent, to 8,612.13, and returned to a loss for the year. The broader Standard & Poor's 500 index fell 22.49, or 2.4 percent, to 923.72, and the Nasdaq composite index fell 42.42, or 2.3 percent, to 1,816.38. Both indexes still are showing a gain for 2009.

Overseas trading was influenced by the dollar, which rose against most other major currencies following weekend comments from Russia's finance minister, Alexei Kudrin, that the greenback likely would remain the world's reserve currency.

Investors have been worried in recent weeks that foreign governments would seek to spread their reserve cash holdings beyond the dollar. That would cut into demand for the currency.

Commodities including oil tend to be a hedge against a weak dollar. So, when the greenback is stronger, investors feel less need to protect themselves against it and they start selling commodities. That in turn tends to pull down the stocks of basic materials producers who profit from higher prices.

Overseas, Japan's Nikkei average lost 1 percent, while Britain's FTSE 100 fell 2.6 percent, Germany's DAX fell 3.5 percent and France's CAC-40 lost 3.2 percent.

Bond prices mostly rose, driving yields down. The yield on the benchmark 10-year Treasury note, a benchmark widely used for setting home mortgage rates, fell to 3.72 percent from 3.80 percent late Friday.

The dollar's rise helped send oil prices lower. Light, sweet crude fell $1.42 to settle at $70.62 per barrel on the New York Mercantile Exchange.

Investors often welcome falling commodities prices because the lower costs will have benefits across the economy. But traders have also been looking for gains in commodities because that could signal resources are becoming more scarce as demand improves.

Commodities producers fell Monday. Aluminum maker Alcoa Inc. and Freeport-McMoRan Copper & Gold Inc. slid. Alcoa fell 78 cents, or 6.5 percent, to $11.21, while Freeport-McMoRan fell $3.37, or 5.8 percent, to $55.14.

In corporate news, Goldman Sachs lowered its rating on Wal-Mart Stores Inc. to "Neutral" from "Buy," seeing few catalysts that could push the stock higher. The retailer fell $1.38, or 2.8 percent, to $48.46.

Nick Kalivas, vice president of financial research at MF Global, said traders are cautious ahead of quarterly earnings reports this week from Best Buy Co., FedEx Corp. and BlackBerry maker Research in Motion Ltd., all of which are important in their industries.

"It might keep us sideways or lower if we can't get some good news from some of these numbers," he said.

Trading volume remained light Monday, as it has been for weeks. That indicates fewer traders are standing behind the market's moves. Volume does tend to slow in the summer as traders take vacations, but thin volume could indicate there is less conviction behind the market's moves.

About eight stocks fell for every one that rose on the New York Stock Exchange, where volume came to a light 4.55 billion shares, up from Friday's 4.39 billion.

In other trading, the Russell 2000 index of smaller companies fell 15.00, or 2.9 percent, to 511.83.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

More signs of a weak economy gave investors a reason to sell stocks for a second day.

Stocks extended their pullback Tuesday after news of a seventh straight monthly drop in industrial production overshadowed better-than-expected reports on home construction, building permits and inflation.

All the major stock indexes fell more than 1 percent, and the Dow Jones industrial average lost 107 points, bringing its two-day drop to nearly 300 points, or 3.3 percent. Investors are nervous that a three-month surge in stocks, based on optimism about a recovering economy, might have been premature.



The NYSE DOW closed LOWER -107.46 points -1.25% on Tuesday June 16
Sym Last........ ........Change..........
Dow 8,504.67 -107.46 -1.25%
Nasdaq 1,796.18 -20.20 -1.11%
S&P 500 911.97 -11.75 -1.27%
30-yr Bond 4.5030% -0.0520

NYSE Volume 5,920,616,000 (prior day 5,605,944,500)
Nasdaq Volume 2,278,797,250 (prior day 2,204,651,000)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,328.57 +2.56 +0.06%
DAX 4,890.72 +0.78 +0.02%
CAC 40 3,213.95 -5.63 -0.17%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,752.88 -286.79 -2.86%
Hang Seng 18,165.50 -333.46 -1.80%
Straits Times 2,288.16 -28.40 -1.23%

http://finance.yahoo.com/news/Mixed...76.html?sec=topStories&pos=main&asset=&ccode=

Mixed data on production, housing weighs on stocks

Poor showing on industrial production saps market of latest effort to resume rally
Sara Lepro and Tim Paradis, AP Business Writers
On Tuesday June 16, 2009, 5:20 pm EDT

NEW YORK (AP) -- More signs of a weak economy gave investors a reason to sell stocks for a second day.

Stocks extended their pullback Tuesday after news of a seventh straight monthly drop in industrial production overshadowed better-than-expected reports on home construction, building permits and inflation.

All the major stock indexes fell more than 1 percent, and the Dow Jones industrial average lost 107 points, bringing its two-day drop to nearly 300 points, or 3.3 percent. Investors are nervous that a three-month surge in stocks, based on optimism about a recovering economy, might have been premature.

But analysts weren't surprised that investors were having second thoughts.

"It's unreasonable to think that the market is going to go straight up and never turn back," said Eric Ross, director of research at Canaccord Adams.

Analysts say investors need more clear evidence of growth to restart the market's rally, which has stalled as investors grow worried that a weaker dollar, higher commodities prices and rising interest rates will hamper the economy's recovery. The Standard & Poor's 500 index is still up 34.8 percent from the 12-year lows it hit in March.

"You've got to continue to have a constant flow of good news to push things higher," said Randy Frederick, director of trading at Charles Schwab. "And we just don't have that."

The Dow Jones industrial average fell 107.46, or 1.3 percent, to 8,504.67. The Standard & Poor's 500 index fell 11.75, or 1.3 percent, to 911.97, while the Nasdaq composite index fell 20.20, or 1.1 percent, to 1,796.18.

On Monday, the Dow tumbled 187 points, or 2.1 percent, putting it back into the red for 2009. Last week, the Dow was up on the year for the first time since January. A stronger dollar sent commodities prices tumbling Monday and that put pressure on energy and material stocks.

The dollar resumed its three-month fall against other major currencies Tuesday, pushing prices for commodities higher.

Analysts contend a pause in the rally is necessary for stocks to move higher. Market watchers tend to be alarmed when the market moves up in an unbroken line and say that suggests indiscriminate buying.

"The market is very overbought right now and what it needs to do is consolidate and it needs to have a series of days like this," said Jon Merriman, chief executive of Merriman Curhan Ford.

The dollar's slide came after the Kremlin's top economic adviser said Russia may put part of its currency reserves in bonds issued by Brazil, China and India.

A weaker dollar, and its impact on commodities prices and Treasury yields, has become one of investors' main concerns.

While higher commodities prices can indicate improving demand for industrial goods, analysts warn that a jump in prices combined with a weaker dollar could make it more difficult for the economy to emerge from recession.

Light, sweet crude pared fell 15 cents to settle at $70.47 a barrel on the New York Mercantile Exchange. Precious metals, soybeans and coffee were among the other commodities closing higher.

The Commerce Department said home construction jumped in May by the largest amount in three months after hitting a record low in April. Applications for building permits, which are seen as a good indicator of future activity, rose by 4 percent.

The Labor Department said wholesale prices rose less than expected in May as a big jump in the price of gasoline offset a drop in food costs. But the Federal Reserve said industrial production fell a larger-than-expected 1.1 percent in May as the recession hurt demand for manufactured goods including cars, machinery and household appliances.

Treasury yields retreated further, a welcome sign for homeowners. Yields on long-term Treasurys have been climbing as demand for bonds weakens amid a huge surplus of government debt. This is worrisome to investors because Treasury yields are linked to mortgages and other consumer loans, and higher borrowing costs could undermine a recovery in the housing market.

The yield on the benchmark 10-year Treasury note fell to 3.68 percent from 3.72 percent late Monday.

About two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.2 billion shares, up from 810.9 million a day earlier.

The Russell 2000 index of smaller companies fell 8.09, or 1.6 percent, to 503.74.

Overseas, Japan's Nikkei stock average slid 2.9 percent. Britain's FTSE 100 and Germany's DAX index each rose less than 0.1 percent and France's CAC-40 slipped 0.2 percent.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A cautious forecast from FedEx Corp. and a ratings downgrade of 18 banks gave investors new reasons to worry about the economy.

Stocks mostly fell Wednesday, though health and technology stocks posted gains after a widespread slide in stocks earlier in the week.

FedEx issued a weak profit forecast and downbeat comments about the economy. Analysts look to shipping companies' business as a gauge of the economy's strength.

The NYSE DOW closed LOWER -7.49 points -0.09% on Wednesday June 17
Sym Last........ ........Change..........
Dow 8,497.18 -7.49 -0.09%
Nasdaq 1,808.06 +11.88 +0.66%
S&P 500 910.71 -1.26 -0.14%
30-yr Bond 4.4650% -0.0380

NYSE Volume 6,905,885,500 (prior day 5,920,616,000)
Nasdaq Volume 2,559,302,250 (prior day 2,278,797,250)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,278.46 -50.11 -1.16%
DAX 4,799.98 -90.74 -1.86%
CAC 40 3,161.14 -52.81 -1.64%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,840.85 +87.97 +0.90%
Hang Seng 18,084.60 -80.90 -0.45%
Straits Times 2,271.45 -16.71

http://finance.yahoo.com/news/Stock...53126.html?sec=topStories&pos=1&asset=&ccode=

Stocks mostly fall on bank ratings, FedEx warning
Stocks slip after FedEx forecast, bank downgrades; Inflation rises less than expected
Tim Paradis, AP Business Writer
On Wednesday June 17, 2009, 4:34 pm EDT

NEW YORK (AP) -- A cautious forecast from FedEx Corp. and a ratings downgrade of 18 banks gave investors new reasons to worry about the economy.

Stocks mostly fell Wednesday, though health and technology stocks posted gains after a widespread slide in stocks earlier in the week.

FedEx issued a weak profit forecast and downbeat comments about the economy. Analysts look to shipping companies' business as a gauge of the economy's strength.

Financial stocks saw some of the biggest losses after Standard & Poor's cut its ratings and revised outlooks on big banks. S&P cited concerns that the financial industry will remain volatile and that banks are expected to face tighter regulatory oversight.

In a bright spot, consumer prices rose less than forecast in May. Investors have been worrying that rising prices would threaten a recovery in the economy by curbing demand.

Trading is likely to remain choppy ahead of Friday's quarterly "quadruple witching" day, which marks the simultaneous expiration of a number of different options contracts. Dan Deming, a trader with Strutland Equities in Chicago, said stocks are more likely to gain ground during such times.

The drop in stocks this week comes after stocks notched only modest gains last week. The selling has inserted a break into a three-month rally that had carried the S&P 500 index up 40 percent from 12-year lows. Many traders say expectations for an economic recovery had been too rosy.

Richard Hughes, co-president of Portfolio Management Consultants, said the market had gotten ahead of itself during the spring rally and that the economy remains weak. "People are taking a pause and it makes sense," he said.

According to preliminary calculations, the Dow Jones industrial average fell 7.49, or 0.1 percent, to 8,497.18 after moving in and out of positive territory during the day. The broader S&P 500 index fell 1.26, or 0.1 percent, to 910.71, and the Nasdaq composite index rose 11.88, or 0.7 percent, to 1,808.06.

In corporate news, FedEx said its fiscal fourth-quarter loss widened because of hefty one-time charges and lower revenue, and the company warned it expects extremely difficult conditions in the next two quarters. Investors often look to the results of shipping companies like FedEx as a leading indicator of economic activity, and the poor outlook helped send shares lower in the early going. FedEx fell 72 cents to $50.70.

BB&T Corp. and Wells Fargo & Co. were among the biggest banks hit with lower ratings. BB&T fell 65 cents, or 2.9 percent, to $21.58, while Wells Fargo slid $1.31, or 5.4 percent, to $23.09.

The KBW Bank index, which tracks 24 of the nation's largest banks, fell 3.3 percent.

The Labor Department said the consumer price index rose a seasonally adjusted 0.1 percent last month, less than a 0.3 percent rise that had been forecast. Excluding volatile food and energy costs, core prices rose 0.1 percent, as expected.

The market's zigzags came as investors looked at the White House's plan for remaking the rules that govern Wall Street. The changes would award new powers to the Federal Reserve to supervise large financial institutions considered too big to fail. It also would establish a consumer protection agency to govern lending and credit as well as rules that would reach into unregulated regions of the financial markets.

In other trading, bond prices mostly rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.60 percent from 3.65 percent late Tuesday.

Oil rose 56 cents to settle at $71.03 a barrel after a key government report said crude held in U.S. storage houses fell for the third straight week.

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

Stocks that fell outnumbered those that rose by 3 to 2 on the New York Stock Exchange, where volume came to 1.3 billion shares compared with 1.2 billion Tuesday.

The Russell 2000 index of smaller companies rose 3.29, or 0.7 percent, to 507.03.

Major markets overseas mostly fell sharply. Britain's FTSE 100 fell 1.2 percent, Germany's DAX index lost 1.9 percent, and France's CAC-40 fell 1.6 percent. Japan's Nikkei stock average rose 0.9 percent.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

All the major indexes closed the week down for the first time since the week of May 11. The Dow lost 3 percent, the S&P 500 index fell 2.6 percent, and the Nasdaq shed 1.7 percent.

Stocks finished mixed Friday, leaving all the major indexes with their first weekly loss since early May. Tech, financial and retail stocks gained, while utilities and energy stocks were lower.

The market began the day stronger, following surprisingly good reports the day before on jobs and manufacturing. But the early gains gave way to selling in the afternoon, saddling the Dow Jones industrials with four days of losses over the past five.

With little in the way of corporate or economic news Friday, prospects were poor for restarting a rally that powered the market up as much as 40 percent this spring after hitting its lowest level in more than a decade in early March. Traders have grown worried in recent weeks that an economic recovery may be more subdued than originally hoped and that the huge run-up in stocks may have been overdone.

The NYSE DOW closed LOWER -15.87 points -0.19% on Friday June 19
Sym Last........ ........Change..........
Dow 8,539.73 -15.87 -0.19%
Nasdaq 1,827.47 +19.75 +1.09%
S&P 500 921.23 +2.86 +0.31%
30-yr Bond 4.5220% -0.1020

NYSE Volume 6,496,591,500
Nasdaq Volume 3,007,479,750


Europe
Symbol... Last...... .....Change.......
FTSE 100 4,345.93 +65.07 +1.52%
DAX 4,839.46 +1.98 +0.04%
CAC 40 3,221.27 +27.21 +0.85%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,786.26 +82.54 +0.85%
Hang Seng 17,920.93 +144.27 +0.81%
Straits Times 2,273.18 +35.98 +1.61%

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=2&asset=&ccode=

Stocks log first weekly loss since early May

Stocks finish choppy day of trading mixed; major indexes post 1st weekly loss since early May

By Tim Paradis and Sara Lepro, AP Business Writers
On Friday June 19, 2009, 6:47 pm EDT

NEW YORK (AP) -- Caution has once again overcome the stock market.

Stocks finished mixed Friday, leaving all the major indexes with their first weekly loss since early May. Tech, financial and retail stocks gained, while utilities and energy stocks were lower.

The market began the day stronger, following surprisingly good reports the day before on jobs and manufacturing. But the early gains gave way to selling in the afternoon, saddling the Dow Jones industrials with four days of losses over the past five.

With little in the way of corporate or economic news Friday, prospects were poor for restarting a rally that powered the market up as much as 40 percent this spring after hitting its lowest level in more than a decade in early March. Traders have grown worried in recent weeks that an economic recovery may be more subdued than originally hoped and that the huge run-up in stocks may have been overdone.

"There's no question in my mind that the economy is improving," said Phil Orlando, chief equity market strategist at Federated Investors. "But investors are betting on some sideways consolidation rather than a continuation of a sharp spike in share prices."

Trading was also jumpy because of the occurrence of a quarterly "quadruple witching," which marks the simultaneous expiration of four different kinds options and futures contracts.

The Dow Jones industrial average fell 15.87, or 0.2 percent, to 8,539.73, with 16 of the 30 stocks that make up the average posting losses. The broader Standard & Poor's 500 index rose 2.86, or 0.3 percent, to 921.23 and the Nasdaq composite index gained 19.75, or 1.1 percent, to 1,827.47.

About three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to a heavy 5.47 billion shares, compared with 4.58 billion shares the day before.

All the major indexes closed the week down for the first time since the week of May 11. The Dow lost 3 percent, the S&P 500 index fell 2.6 percent, and the Nasdaq shed 1.7 percent.

Stocks tumbled early in the week as a handful of weak economic reports, including news of a seventh straight monthly drop in industrial production, bucked sharply with the gradual improvement traders had grown used to with other economic readings.

Stocks rebounded modestly on Thursday, spurred by a series of better data on economic activity, including a report that showed the overall number of people drawing unemployment benefits fell last week for the first time since early January.

Traders have been anticipating a pullback after such big gains in such a short period. Usually, a 40 percent move like the one in the S&P 500 index takes years to develop, not months.

"It's not going to be a one-way ride," said Keith Walter, portfolio manager of Artio Global Equity Fund.

Analysts are divided over whether the market's pullback this week has more to go, or if it can now move higher after back-to-back weeks of relatively sideways movement; Last week all the major indexes rose less than 1 percent. Many predict choppy trading well through the summer, when there is typically less volume, and as the market heads into earnings season in July.

Next week will bring reports on existing home sales and durable goods orders, among others. Investors will also be looking to the Federal Reserve for any clues on its monetary policy going forward as the central bank conducts a two-day policy meeting.

Bond prices rose slightly after sliding Thursday ahead of a spate of auctions next week. The yield on the benchmark 10-year Treasury note fell to 3.78 percent from 3.81 percent late Thursday.

Investors have been keeping a close eye on the bonds market recently, concerned that a run-up in Treasury yields will lead to higher borrowing costs and potentially erode some of the economy's progress. Long-term Treasury yields are closely linked to interest rates on mortgages, which have been rising in recent weeks.

Tech stocks moved higher as Apple Inc.'s latest version of its popular iPhone hit store shelves. Apple shares added $3.60, or 2.7 percent, to $139.48, while rival smart phone maker Palm Inc. jumped more than 6 percent, rising 87 cents to $13.93.

Oil prices reversed early gains and fell $1.82 to settle at $69.55 a barrel in light trading as the contract was set to close Monday.

The dollar fell against the euro and the British pound. Gold prices rose.

Overseas, Japan's Nikkei stock average rose 0.9 percent. Britain's FTSE 100 rose 1.5 percent, Germany's DAX index rose 0.04 percent, and France's CAC-40 rose 0.9 percent.

BlackBerry maker Research in Motion Ltd. reported a better-than-expected 33 percent increase in first-quarter earnings, but shipments were below expectations. The stock dropped $3.77, or 4.9 percent, to $72.78.

In other trading, the Russell 2000 index of smaller companies rose 3.24, or 0.6 percent, to 512.72.

The Dow Jones industrial average closed the week down 259.53, or 3.0 percent, at 8,539.73. The Standard & Poor's 500 index fell 24.98, or 2.6 percent, to 921.23. The Nasdaq composite index fell 31.33, or 1.7 percent, to 1,827.47.

The Russell 2000 index, which tracks the performance of small company stocks, fell 14.11, or 2.7 percent, for the week to 512.72.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,428.97, down 272.46, or 2.8 percent, for the week. A year ago, the index was at 13,514.89.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A surprisingly bleak forecast for the world economy pushed stocks to their biggest loss in two months.

Major stock indexes tumbled by more than 2 percent Monday, sending the Dow Jones industrial average down 201 points, after the World Bank estimated the global economy will shrink 2.9 percent in 2009. It previously predicted a 1.7 percent contraction.

The grim assessment was the latest unwelcome surprise for the market since last month and further eroded hopes that the economy was starting to emerge from recession. Investors began driving stocks sharply higher in early March, encouraged by modest improvements in housing, manufacturing and even unemployment.


The NYSE DOW closed LOWER -200.72 points -2.35% on Monday June 22
Sym Last........ ........Change..........
Dow 8,339.01 -200.72 -2.35%
Nasdaq 1,766.19 -61.28 -3.35%
S&P 500 893.04 -28.19 -3.06%
30-yr Bond 4.4290% -0.0930

NYSE Volume 6,395,502,000 (prior day 6,496,591,500)
Nasdaq Volume 2,358,329,250 (prior day 3,007,479,750)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,234.05 -111.88 -2.57%
DAX 4,693.40 -146.06 -3.02%
CAC 40 3,123.25 -98.02

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,826.27 +40.01 +0.41%
Hang Seng 18,059.55 +138.62 +0.77%
Straits Times 2,266.92 -6.26 -0.28%

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=1&asset=&ccode=

Stocks tumble on bleak outlook for world economy

Stocks slide as World Bank slashes 2009 forecast for global economy; Dow industrials drop 201
By Madlen Read, AP Business Writer
On Monday June 22, 2009, 6:16 pm EDT

NEW YORK (AP) -- A surprisingly bleak forecast for the world economy pushed stocks to their biggest loss in two months.

Major stock indexes tumbled by more than 2 percent Monday, sending the Dow Jones industrial average down 201 points, after the World Bank estimated the global economy will shrink 2.9 percent in 2009. It previously predicted a 1.7 percent contraction.

The grim assessment was the latest unwelcome surprise for the market since last month and further eroded hopes that the economy was starting to emerge from recession. Investors began driving stocks sharply higher in early March, encouraged by modest improvements in housing, manufacturing and even unemployment.

The dampened economic outlook from the World Bank, a global lender based in Washington, also weighed on the prices of oil, metals, and other commodities. Those price drops in turn sent energy and metal producers' shares falling.

Hugh Johnson, chief investment officer of Johnson Illington Advisors, said the downbeat economic prediction confirmed fears that have been building in the market for two weeks.

"The forecast by the World Bank just dramatized that the market may have overstated what's coming for the economy," he said.

The stock market is coming off its first weekly loss in more than a month after mixed economic readings last week.

Investors have gone from enjoying a string of better-than-expected economic data to trying to manage a list of worries about the economy. Stocks have lost ground several times in the last month on fears that rising interest rates and inflation would upend an economic recovery.

Many analysts also say the relief that erupted in early March about the economy then led to outsize expectations for how quickly a recovery could occur. Other economic news has hit stocks since May. A disappointing government report last month on retail sales suggested the economy remained fragile, and the Federal Reserve reined in its expectations for how the economy will fare this year.

There were no major economic reports Monday, but traders will get data this week on new and existing home sales, durable goods orders, gross domestic product and personal incomes and spending.

The Federal Reserve also will be in the spotlight after its two-day meeting on monetary policy ends Wednesday. The central bank is widely expected to hold its key funds rate steady near zero, but investors want to know whether policymakers will say the economy is recovering or still in need of aid.

The Dow fell 200.72, or 2.4 percent, to 8,339.01, its lowest finish since May 27. It was the biggest drop for the blue chips since losing 290 points, or 3.6 percent, on April 20 as investors worried about the soundness of bank balance sheets.

The Dow has fallen for five of the last six days and remains down for June.

The Standard & Poor's 500 index fell 28.19, or 3.1 percent, to 893.04, also leaving the index with its biggest slide since April 20 and erasing its advance for the year. The Nasdaq composite index fell 61.28, or 3.4 percent, to 1,766.19.

After Monday's drop and a 3 percent slide last week, the Dow is down 5 percent for the year. The Nasdaq, however, remains up by 12 percent in 2009.

The market is selling off on the uncertainty of what lies ahead, said David Kotok, chairman and chief investment officer of Cumberland Advisors.

"The picture's not clear. You've got a market that's acting just that way," Kotok said.

Bond prices jumped Monday, pushing yields down, as the drop in stocks drove demand for the safety of government debt. The yield on the benchmark 10-year Treasury note sank to 3.69 percent from 3.78 percent late Friday.

The Fed has been buying Treasurys and other kinds of debt with the hope of keeping borrowing rates low at the same time the government has been issuing record amounts of debt. The Treasury Department is planning to auction another $104 billion in debt this week.

A gauge of stock market volatility known as Wall Street's "fear index" spiked. The VIX rose more than 11 percent Monday, its biggest one-day gain since April.

Benchmark crude for August delivery fell $2.52 to settle at $67.50 a barrel on the New York Mercantile Exchange. Gold prices also slid.

Shares of companies that produce commodities dropped. Oil company Chevron Corp. fell $2.30, or 3.4 percent, to $65.76, while aluminum producer Alcoa Inc. fell 98 cents, or 8.9 percent, to $10.02.

Few areas were spared the selling Monday, but investors moved toward industries like consumer staples and utilities that are expected to offer shelter in a tough economy. Procter & Gamble, the maker of Tide detergent and Crest toothpaste, slipped 8 cents to $50.56. Duke Energy Corp. rose 24 cents, or 1.7 percent, to $14.65.

The dollar was mostly higher against other major currencies.

The Russell 2000 index of smaller companies fell 19.91, or 3.9 percent, to 492.81.

About eight stocks fell for every stock that rose on the New York Stock Exchange, where consolidated volume came to 5.1 billion shares, down from 5.5 billion Friday. Trading was heavy Friday because of expiration of options and futures contracts.

Overseas, Japan's Nikkei stock average rose 0.4 percent. Britain's FTSE 100 fell 2.6 percent, Germany's DAX index fell 3 percent, and France's CAC-40 fell 3 percent.
729

 

[sunshineboy]

Not sure what why it is going down.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors are holding off making big moves while they wait for the Federal Reserve.

Stocks ended little changed Tuesday, a day after the major indexes had their worst day in two months. Traders are looking for the central bank at its two-day meeting ending Wednesday to outline its expectations for the economy and signal when it might raise interest rates.

Investors reacted coolly to a report from the National Association of Realtors that May sales of existing homes rose 2.4 percent. The increase was smaller than economists' forecast for 2.8 percent, and not enough to alleviate anxiety about reports later in the week on durable goods orders, new home sales and personal spending.


The NYSE DOW closed LOWER -16.10 points -0.19% on Tuesday June 23
Sym Last........ ........Change..........
Dow 8,322.91 -16.10 -0.19%
Nasdaq 1,764.92 -1.27 -0.07%
S&P 500 895.10 +2.06 +0.23%
30-yr Bond 4.3730% -0.0560

NYSE Volume 6,138,496,500 (prior day 6,395,502,000)
Nasdaq Volume 2,187,094,000 (prior day 2,358,329,250)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,230.02 -4.03 -0.10%
DAX 4,707.15 +13.75 +0.29%
CAC 40 3,116.82 -6.43

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,549.61 -276.66 -2.82%
Hang Seng 17,538.37 -521.18 -2.89%
Straits Times 2,231.33 -35.59 -1.57%

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=2&asset=&ccode=

Stocks close mixed as investors wait on the Fed

Stocks end mixed as traders await word from the Fed; Existing home sales fail to excite

By Madlen Read and Tim Paradis, AP Business Writers
On Tuesday June 23, 2009, 6:00 pm EDT

NEW YORK (AP) -- Investors are holding off making big moves while they wait for the Federal Reserve.

Stocks ended little changed Tuesday, a day after the major indexes had their worst day in two months. Traders are looking for the central bank at its two-day meeting ending Wednesday to outline its expectations for the economy and signal when it might raise interest rates.

Investors reacted coolly to a report from the National Association of Realtors that May sales of existing homes rose 2.4 percent. The increase was smaller than economists' forecast for 2.8 percent, and not enough to alleviate anxiety about reports later in the week on durable goods orders, new home sales and personal spending.

"There's not a lot of conviction on behalf of buyers," said Jim Herrick, manager of equity trading at Baird & Co.

The Fed is widely expected to keep its key interest rate near zero, but investors are unsure how optimistic the policymakers will be in the economic assessment that accompanies their rate decision, and whether the central bank will consider raising rates later this year to curb inflation.

Analysts say the Fed might dismantle some of the emergency supports it has put in place for the economy, a move that could make investors nervous. At its meeting in March, the Fed introduced $1.2 trillion in spending that included the purchase of $300 billion in government debt to help drive down interest rates. Rates fell, but have since come off their lows, leaving traders divided about whether policymakers will change their strategy.

Meanwhile, the market was following the week's $104 billion in Treasury auctions. The government sold $40 billion in debt Tuesday amid strong demand. Investors have been on edge during such auctions because any signs that a desire for government debt is waning could hit the market.

Treasury demand needs to stay strong for the government to finance its bailout and stimulus programs without significantly raising yields. Bond yields also affect borrowing rates for consumers.

The stock market is showing no signs of restarting the rally that lifted the Standard & Poor's 500 index 32.3 percent since early March. Investors who three months ago were buying stocks on improved data like Tuesday's home sales report are now more dubious about when an economic recovery will actually take hold. The Dow Jones industrials shed 201 points on Monday.

The Dow fell 16.10, or 0.2 percent, Tuesday to 8,322.91. The Standard & Poor's 500 index rose 2.06, or 0.2 percent, to 895.10, and the Nasdaq composite index fell 1.27, or 0.1 percent, to 1,764.92.

The Dow has fallen for six out of the past seven days and closed at its lowest level since May 27.

The biggest loser among the 30 Dow stocks was Boeing Co., which fell $3.03, or 6.5 percent, to $43.87 after again delaying the first test flight of its long-awaited 787 jetliner. The company said it needed to reinforce part of the aircraft.

While stocks have been pulling back for weeks, their retreat has been accompanied by very little volatility, and that's a positive sign, said Scott Fullman, director of derivatives investment strategy for WJB Capital Group in New York.

"The fact is, you can't keep going straight up," Fullman said. "There's a chance we'll still see some downward movement in the next week or two -- the market really needs a correction."

Government bond prices were mixed Tuesday. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.63 percent from 3.69 percent late Monday.

Falling stocks narrowly outnumbered those that rose on New York Stock Exchange, where consolidated volume came to 4.9 billion shares, down from 5.1 billion shares Monday.

The Russell 2000 index of smaller companies fell 3.04, or 0.6 percent, to 489.77.

After tumbling on Monday, the price of crude oil rose $1.74 to settle at $69.24 a barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies. Gold prices rose.

Overseas, Britain's FTSE 100 fell 0.1 percent, Germany's DAX index rose 0.3 percent, and France's CAC-40 fell 0.2 percent. Japan's Nikkei stock average sank 2.8 percent.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The Dow fell for the fourth day and other indexes ended well off the day's highs on Wednesday after the Federal Reserve reiterated concerns about the economic outlook at the end of its policy meeting.

Technology shares sustained some strength, bolstered by stronger-than-expected quarterly results from software maker Oracle Corp.

The Fed, as expected, left the benchmark fed funds rate at almost zero, and said it would continue its program of purchasing U.S. government bonds and mortgage-related debt.

Stocks pulled back after the Fed did not suggest in its statement that it sees any notable recovery any time soon.

The NYSE DOW closed LOWER -23.05 points -0.28% on Wednesday June 24
Sym Last........ ........Change..........
Dow 8,299.86 -23.05 -0.28%
Nasdaq 1,792.34 +27.42 +1.55%
S&P 500 900.94 +5.84 +0.65%
30-yr Bond 4.4250% +0.0520

NYSE Volume 5,702,674,000 (prior day 6,138,496,500)
Nasdaq Volume 2,172,564,500 (prior day 2,187,094,000)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,279.98 +49.96 +1.18%
DAX 4,836.01 +128.86 +2.74%
CAC 40 3,184.76 +67.94 +2.18%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,590.32 +40.71 +0.43%
Hang Seng 17,892.15 +353.78 +2.02%
Straits Times 2,278.96 +52.86 +2.37%

http://finance.yahoo.com/news/Dow-ends-down-SP-Nasdaq-up-rb-1615540785.html?x=0

Dow ends down, S&P, Nasdaq up after Fed, Oracle
On Wednesday June 24, 2009, 4:36 pm EDT
By Caroline Valetkevitch

NEW YORK (Reuters) - The Dow fell for the fourth day and other indexes ended well off the day's highs on Wednesday after the Federal Reserve reiterated concerns about the economic outlook at the end of its policy meeting.

Technology shares sustained some strength, bolstered by stronger-than-expected quarterly results from software maker Oracle Corp.

The Fed, as expected, left the benchmark fed funds rate at almost zero, and said it would continue its program of purchasing U.S. government bonds and mortgage-related debt.

Stocks pulled back after the Fed did not suggest in its statement that it sees any notable recovery any time soon.

"The Fed is a little more downbeat than the market has been ... that they're emphasizing the weakness is a touch disappointing to me and to the markets," said Jim Awad, managing director at Zephyr Management in New York.

Before the release of the Fed's statement, all three major stock indexes were solidly higher, with the Nasdaq up more than 2 percent. Investors were encouraged by a stronger-than-expected report on monthly durable goods orders, which pointed to increased economic demand.

The Fed's words on the economic outlook were mixed. The central bank said the economy was likely to remain weak for a time, but the contraction's pace was slowing.

The Dow Jones industrial average was down 23.05 points, or 0.28 percent, at 8,299.86. But the Standard & Poor's 500 Index was up 5.84 points, or 0.65 percent, at 900.94. The Nasdaq Composite Index was up 27.42 points, or 1.55 percent, at 1,792.34.

Oracle's results boosted other technology shares and helped drive the PHLX semiconductor index up 1.7 percent. Oracle shot up 7 percent to $21.26 and ranked among the Nasdaq's top advancers.

"You had the good durable number, the good Oracle number that kind of got things going," said Stephen Massocca, managing director of Wedbush Morgan in San Francisco.

Data before the opening bell showed new orders for durable goods, which are long-lasting U.S. manufactured products such as refrigerators and washing machines, increased by a much stronger-than-expected 1.8 percent in May, and the median price of new homes hit its highest level since December, even though sales slipped, economic data showed.

The broad S&P 500 index is up 33.2 percent from a 12-1/2-year closing low on March 9, but it had soared as much as 40 percent during the spring rally.

Trading volume was below average on the New York Stock Exchange, with only about 1.10 billion shares changing hands, under last year's estimated daily average of 1.49 billion, while on the Nasdaq, about 2.16 billion shares traded, below last year's daily average of 2.28 billion.

Despite the Dow's lower finish for the day, advancing stocks outnumbered declining ones on the NYSE by a ratio of nearly 3 to 1. On the Nasdaq, about three stocks rose for every two that fell.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors rushed back into stocks as profits at a handful of companies indicated the economy might be gaining strength.

Homebuilders and retailers led a broad rally Thursday. The Dow Jones industrial average surged 173 points after four days of losses. The price of government debt jumped after an auction drew strong demand.

The day began with better-than-expected earnings reports. Lennar Corp.'s orders for new homes jumped 63 percent during the second quarter and its revenue beat expectations.

The NYSE DOW closed HIGHER +172.54 points +2.08% on Thursday June 25
Sym Last........ ........Change..........
Dow 8,472.40 +172.54 +2.08%
Nasdaq 1,829.54 +37.20 +2.08%
S&P 500 920.26 +19.32 +2.14%
30-yr Bond 4.3290% -0.0960

NYSE Volume 6,063,876,000 (prior day 5,702,674,000)
Nasdaq Volume 2,277,026,000 (prior day 2,172,564,500)


Europe
Symbol... Last...... .....Change.......
FTSE 100 4,252.57 -27.41 -0.64%
DAX 4,800.56 -35.45 -0.73%
CAC 40 3,163.10 -21.66 -0.68%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9796.08 +205.76 +2.15%
Hang Seng 18275.03 +382.88 +2.14%
Straits Times 2302.46 +23.5 +1.03%


http://finance.yahoo.com/news/Stock...4.html?x=1&sec=topStories&pos=4&asset=&ccode=

Stocks jump, led by homebuilders, retailers

Stocks jump on upbeat earnings from homebuilders, retailers; Fed starts to remove supports
By Madlen Read and Tim Paradis, AP Business Writers
On Thursday June 25, 2009, 5:44 pm EDT

NEW YORK (AP) -- Investors rushed back into stocks as profits at a handful of companies indicated the economy might be gaining strength.

Homebuilders and retailers led a broad rally Thursday. The Dow Jones industrial average surged 173 points after four days of losses. The price of government debt jumped after an auction drew strong demand.

The day began with better-than-expected earnings reports. Lennar Corp.'s orders for new homes jumped 63 percent during the second quarter and its revenue beat expectations.

And retailers jumped following a report from Bed Bath & Beyond Inc. The home furnishings store said its fiscal first-quarter earnings climbed 14 percent as sales rose following the liquidation of rival Linens N Things.

Stocks extended their gains after Federal Reserve Chairman Ben Bernanke fended off accusations before a House committee that he pressed Bank of America Corp. to acquire Merrill Lynch in a deal that cost taxpayers $20 billion. Analysts said his handling of the questions made it less likely he would resign before his term expires early next year.

The third successful Treasury auction of the week helped boost confidence that Washington will be able to raise enough money to fund its economic recovery programs. Investors also applauded the Fed's announcement that it would let expire some of the emergency lending programs it set up last fall as the financial crisis intensified.

The upbeat news helped traders look past unexpected increases in claims for unemployment benefits. Traders had been expecting a drop. Investors have been dissecting economic and corporate data for signs of whether the economy is starting to recover or whether a stock market rally that began in March was premature.

Joe Saluzzi, co-head of equity trading at Themis Trading LLC, said the rally is likely tied in part to portfolio managers buying up stocks to pump up their returns ahead of the end of the quarter on Tuesday.

"I think the window dressing is a big deal," he said. "There's just a force underneath the market that wants to keep it higher."

The Dow rose 172.54, or 2.1 percent, to 8,472.40, after falling 40 points in the early going. It was the biggest point and percentage gain for the blue chips since June 1, though the Dow is still down 67 points for the week. The broader Standard & Poor's 500 index rose 19.32, or 2.1 percent, to 920.26. The gain pushed the index back into the black for the year.

The Nasdaq composite index rose 37.20, or 2.1 percent, to 1,829.54.

The Dow remains up 29.4 percent from a 12-year low on March 9, but down nearly 330 points, or 3.7 percent, from a five-month high on June 12.

Some analysts say investors will need to see evidence of growth to keep the rally going.

"People are hesitant to take a position one way or the other," said Doug Roberts, chief investment strategist at Channel Capital Research.

Trading is expected to remain volatile throughout the summer months, which are typically marked by light volume that can skew movements in the market. Friday could bring heavier-than-normal volume because of the annual reconstitution of the Russell 3000 index at the end of the day's trading. Investors who track indexes will have to buy and sell hundreds of stocks to match the new makeup of the indexes.

Investors on Thursday were relieved to see the announcement that the Fed will allow a program for supporting money market mutual funds to lapse by the end of October. The central bank's decision, along with reductions in the amount it will lend to banks under two others is a sign the financial system is stabilizing. The Fed is extending five other programs.

On Wednesday, the Fed said it expects the economy will slowly resume growth and that inflation should remain in check.

Government bond prices jumped Thursday after an auction for $27 billion in seven-year notes drew strong demand.

Most auctions have been attracting solid demand this year, but investors remain cautious. If demand wanes, the government will have to boost yields to attract buyers.

The yield on the benchmark 10-year Treasury note jumped, pushing its yield down to 3.54 percent from 3.69 percent late Wednesday.

Ron Sweet, vice president of equity investments at USAA Investment Management Co., said the Treasury auction and the resulting drop in yields was a relief because it could reduce borrowing costs.

"Hopefully mortgage rates will be coming down," he said.

Among homebuilders, Lennar soared $1.37, or 17.5 percent, to $9.19, while Toll Brothers Inc. rose 85 cents, or 5.2 percent, to $17.09.

Bed Bath and Beyond gained $2.69, or 9.5 percent, to $31.08.

Other retailers rose. Home Depot Inc. advanced 89 cents, or 3.9 percent, to $23.57, and J.C. Penney Co. rose $1.60, or 6 percent, to $28.20.

More than four stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.2 billion shares compared with 1.1 billion shares Wednesday.

Crude oil rose $1.56 to settle at $70.23 a barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies. Gold prices rose.

In other trading, the Russell 2000 index of smaller companies rose 14.23, or 2.9 percent, to 509.18.

Overseas, Britain's FTSE 100 fell 0.6 percent, Germany's DAX index fell 0.7 percent, and France's CAC-40 lost 0.7 percent. Japan's Nikkei stock average rose 2.2 percent.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

For the week, the Dow lost 101 points, or 1.2 percent. The S&P 500 index fell 0.3 percent and the Nasdaq rose 0.6 percent. The Dow is down 3.9 percent for the year, while the S&P 500 and Nasdaq are higher.

Consumers are saving more than they're spending, and that has investors worried.

Stocks capped a choppy week of trading with a mixed finish Friday after the Commerce Department reported that personal spending, incomes and savings all rose in May. What troubled investors was that the savings rate soared to 6.9 percent, a 15-year high, while spending rose by a modest 0.3 percent.

The trend suggests consumers are being very careful with their money. That's good for the individual, but not great for the overall economy in the short-term.

The NYSE DOW closed LOWER -34.01 points -0.40% on Friday June 26
Sym Last........ ........Change..........
Dow 8,438.39 -34.01 -0.40%
Nasdaq 1,838.22 +8.68 +0.47%
S&P 500 918.90 -1.36 -0.15%
30-yr Bond 4.3030% -0.0260

NYSE Volume 6,757,669,500 (prior day 6,063,876,000)
Nasdaq Volume 5,316,618,000 (prior day 2,277,026,000)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,241.01 -11.56 -0.27%
DAX 4,776.47 -24.09 -0.50%
CAC 40 3,129.73 -33.37 -1.05%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,877.39 +81.31 +0.83%
Hang Seng 18,600.26 +325.23 +1.78%
Straits Times 2,317.95 +15.49 +0.67%

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=4&asset=&ccode=

Stocks end mixed as savings rate jumps

Stocks finish mixed after uneven data; Personal spending rises, but so does savings
By Madlen Read, AP Business Writer
On Friday June 26, 2009, 5:45 pm EDT

NEW YORK (AP) -- Consumers are saving more than they're spending, and that has investors worried.

Stocks capped a choppy week of trading with a mixed finish Friday after the Commerce Department reported that personal spending, incomes and savings all rose in May. What troubled investors was that the savings rate soared to 6.9 percent, a 15-year high, while spending rose by a modest 0.3 percent.

The trend suggests consumers are being very careful with their money. That's good for the individual, but not great for the overall economy in the short-term.

Phil Orlando, chief equity market strategist at Federated Investors, said he expects the savings rate to eventually hit 10 percent before it eases. The savings rate had been 5.6 percent in April, and annual savings rates were below 1 percent from 2005 through 2007.

"If people ramp up savings that aggressively, that is going to result in less GDP recovery than ordinarily would be the case," Orlando said.

Gross domestic product dropped at an annual rate of 5.5 percent in the first quarter, the government reported earlier this week. As the first half of 2009 ends, investors are growing more anxious about whether the economy can bounce back later this year.

That uncertainty, bolstered by a mix of promising and worrisome data, led to a bumpy week in the stock market. After sliding early in the week, the Dow Jones industrial average rebounded by 2.1 percent on Thursday. But traders appeared eager to take some profits from that jump ahead of the weekend, analysts said.

Investors have been worrying that a 35.8 percent rally in the Standard & Poor's 500 index from a 12-year low on March 9 is overdone, because an economic recovery may be further out than many had earlier hoped. But with the end of the quarter on Tuesday some portfolio managers could be eager to take the market higher to burnish their numbers for the April-June period.

Economic data next week, particularly the government's monthly employment report on Thursday, could dominate a week shortened by the Independence Day holiday on Friday. Reports are also due on home sales and manufacturing.

The Dow fell 34.01, or 0.4 percent, on Friday to 8,438.39. The S&P 500 index fell 1.36, or 0.2 percent, to 918.90. The Nasdaq composite index rose 8.68, or 0.5 percent, to 1,838.22.

For the week, the Dow lost 101 points, or 1.2 percent. The S&P 500 index fell 0.3 percent and the Nasdaq rose 0.6 percent. The Dow is down 3.9 percent for the year, while the S&P 500 and Nasdaq are higher.

The University of Michigan reported a rise in consumer sentiment in June, better than the flat reading expected by analysts. But even that report could not trigger a rally.

The technology-dominated Nasdaq did better than the other major indexes, though, thanks in large part to Palm Inc. The smartphone maker posted a narrower loss for its fiscal fourth quarter than analysts expected. The stock rose $2.20, or 15.7 percent, to $16.22.

Government bond prices edged higher. The yield on the benchmark 10-year Treasury note, which moves opposite its price, slipped to 3.53 percent from 3.54 percent late Thursday.

The Russell 2000 index of smaller companies rose 4.04, or 0.8 percent, to 513.22.

Advancing stocks outnumbered declining stocks 3-to-2 on the New York Stock Exchange, where consolidated volume came to 5.1 billion, up from 4.9 billion logged Thursday. Volume was heavy because of the annual reconstitution of the Russell 3000 index, which forced investors to buy and sell hundreds of stocks to match the new makeup of the indexes.

Crude oil fell $1.07 to settle at $69.16 a barrel on the New York Mercantile Exchange.

The dollar was mixed against other major currencies. Gold prices rose.

Overseas, Britain's FTSE 100 fell 0.3 percent, Germany's DAX index fell 0.5 percent, and France's CAC-40 fell 1.1 percent. Japan's Nikkei stock average rose 0.8 percent.

The Dow Jones industrial average closed the week down 101.34, or 1.2 percent, at 8,438.39. The Standard & Poor's 500 index fell 2.33, 0.3 percent, to 918.90. The Nasdaq composite index rose 10.75, or 0.6 percent, to 1,838.22.

The Russell 2000 index, which tracks the performance of small company stocks, rose 0.5, or 0.1 percent, for the week to 513.22.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,417.51, down 10.99, or 0.1 percent, for the week. A year ago, the index was at 13,125.12.
061

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

A jump in oil prices sent investors rushing to put money into the stock market in the final days of the second quarter.

Energy, industrial and materials stocks pulled the market higher in light trading Monday as investors raced to keep up with the gains in oil.

Crude rose $2.33 to settle at $71.49 a barrel on the New York Mercantile Exchange after China said it would boost oil reserves and Nigerian militants partly shut down an offshore oil platform.

The NYSE DOW closed HIGHER +90.99 points +1.08% on Monday June 29
Sym Last........ ........Change..........
Dow 8,529.38 +90.99 +1.08%
Nasdaq 1,844.06 +5.84 +0.32%
S&P 500 927.23 +8.33 +0.91%
30-yr Bond 4.3070% +0.0040

NYSE Volume 4,924,416,000 (prior day 6,757,669,500)
Nasdaq Volume 2,044,852,000 (prior day 5,316,618,000)


Europe
Symbol... Last...... .....Change.......
FTSE 100 4,294.03 +53.02 +1.25%
DAX 4,885.09 +108.62 +2.27%
CAC 40 3,193.68 +63.95 +2.04%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,783.47 -93.92 -0.95%
Hang Seng 18,528.51 -71.75 -0.39%
Straits Times 2,317.17 -0.78 -0.03%

http://finance.yahoo.com/news/Rising-oil-commodity-prices-apf-1994381510.html?x=0
Rising oil, commodity prices pull stocks higher

Gains in commodities lift energy, industrial shares; Investors await week's key data
By Tim Paradis, AP Business Writer
On Monday June 29, 2009, 6:41 pm EDT

NEW YORK (AP) -- A jump in oil prices sent investors rushing to put money into the stock market in the final days of the second quarter.

Energy, industrial and materials stocks pulled the market higher in light trading Monday as investors raced to keep up with the gains in oil.

Crude rose $2.33 to settle at $71.49 a barrel on the New York Mercantile Exchange after China said it would boost oil reserves and Nigerian militants partly shut down an offshore oil platform.

With the quarter's end coming up on Tuesday, some money managers were making last-minute adjustments to their portfolios just ahead of issuing quarterly reports to their clients. A benchmark against which many funds are compared, the Standard & Poor's 500 index, is up 16.2 percent since the start of the April-June quarter.

Analysts cautioned against seeing the upswing as a sign of conviction among investors that it was time to move into the market ahead of an economic recovery. Stocks seesawed in the early going but jumped after oil gained.

After running the S&P 500 index up 37 percent since March on a litany of "less bad" economic data, investors have become more cautious about the pace of the economy's recovery this month and are looking for more concrete signs of growth.

The Dow Jones industrial average rose 90.99, or 1.1 percent, to 8,529.38. The S&P 500 index rose 8.33, or 0.9 percent, to 927.23, while the Nasdaq composite index rose 5.84, or 0.3 percent, to 1,844.06. Stocks ended last week mixed.

There was little economic news Monday but the week, which is abbreviated by the Independence Day holiday on Friday, brings key data that could give investors a better sense of where the economy is headed.

Of particular importance is the monthly employment report due out Thursday. Though considered a lagging indicator of the country's economic health, the unemployment rate is still one of the most closely watched gauges of the economy. The labor market is intricately tied to many facets of the economy including consumer spending.

Investors also will get reports on consumer confidence and manufacturing this week.

The Dow is up 30.3 percent from a 12-year low on March 9, though it has fallen 3.1 percent from a five-month high on June 12. The blue chips are now down only 2.8 percent in 2009.

Harry Rady, chief executive of Rady Asset Management, is concerned that although the market's rally has lost steam in the past three weeks traders are still too optimistic about how quickly the economy can recover.

"I see a bit of complacency creeping into the market," he said. "The market has run up and that has the inverse effect of what it should."

Rady sees trouble in the continuing retreat of a gauge of fear in the stock market, and contends that investors are overlooking danger spots in the economy like heavy debt loads and weakness in the dollar.

The Chicago Board Options Exchange Volatility Index, or VIX, is a measure of stock market volatility that has been easing since early March. The VIX is down 37 percent in 2009 and stands below 26. The historical average is 18-20. It hit a record 89.5 in October at the height of the financial crisis.

Three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to a light 4 billion shares compared with 5.1 billion traded Friday. Volume was heavy Friday because of the annual reconstitution of the Russell 3000 index forced investors to make changes to their portfolios.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.48 percent from 3.53 percent late Friday.

The dollar was mixed against other major currencies. Gold prices fell.

The gains in commodities lifted energy, industrial and materials stocks. Exxon Mobil Corp. rose $1.53, or 2.2 percent, to $70.58, defense contractor General Dynamics Corp. rose $1.54, or 2.8 percent, to $57 and Eastman Chemical Co. rose $1.38, or 3.7 percent, to $38.79.

Shares of Ford Motor Co. rose 17 cents, or 3 percent, to $5.78 after the automaker's top sales analyst said U.S. auto sales might have stopped their month-to-month slide in June and could be down less than 30 percent for the first time since September. Automakers, which are expected to report June sales in the U.S. on Wednesday, have been hit by a 37 percent drop in sales in the first five months of the year.

In other trading, the Russell 2000 index of smaller companies fell 2.61, or 0.5 percent, to 510.61.

Overseas, Britain's FTSE 100 rose 1.3 percent, Germany's DAX index advanced 2.3 percent, and France's CAC-40 rose 2 percent. Japan's Nikkei stock average fell 1 percent.
266

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors carried Wall Street to a remarkable second-quarter performance even though stocks' big spring rally stalled weeks ago.

The major indexes all managed to end the quarter with double-digit percentage gains. Now, whether the market regains its momentum in the July-September period or hunkers down again will depend on what companies have to say in the next few weeks -- not just about their own prospects, but the economy's as well.

The Dow Jones industrial average rose 11 percent during the quarter, while the Standard & Poor's 500 index surged 15.2 percent. Both indexes logged their first quarterly gains since the third quarter of 2007. The Dow also had its best quarter since 2003 and the S&P 500 its best since 1998.

The S&P 500 index and the Nasdaq composite index are finishing the first half of 2009 in the black. The Nasdaq, heavily populated by tech stocks, rose 20 percent for its first winning quarter in a year and had its best quarter since 2003.

The NYSE DOW closed LOWER -82.38 points -0.97% on Tuesday June 30
Sym Last........ ........Change..........
Dow 8,447.00 -82.38 -0.97%
Nasdaq 1,835.04 -9.02 -0.49%
S&P 500 919.32 -7.91 -0.85%
30-yr Bond 4.3110% +0.0040

NYSE Volume 5,913,933,500 (prior day 4,924,416,000)
Nasdaq Volume 2,130,378,750 (prior day 2,044,852,000)


Europe
Symbol... Last...... .....Change.......
FTSE 100 4,249.21 -44.82 -1.04%
DAX 4,808.64 -76.45 -1.56%
CAC 40 3,140.44 -53.24 -1.67%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,958.44 +174.97 +1.79%
Hang Seng 18,378.73 -149.78 -0.81%
Straits Times 2,333.14 +15.97 +0.69%

http://finance.yahoo.com/news/Strong-quarter-ends-apf-1729229818.html?x=0
Strong quarter ends cautiously as earnings loom

Stock market has best quarter in years, but enthusiasm wanes as earnings loom
By Madlen Read, AP Business Writer
On Tuesday June 30, 2009, 6:10 pm EDT

NEW YORK (AP) -- Investors carried Wall Street to a remarkable second-quarter performance even though stocks' big spring rally stalled weeks ago.

The major indexes all managed to end the quarter with double-digit percentage gains. Now, whether the market regains its momentum in the July-September period or hunkers down again will depend on what companies have to say in the next few weeks -- not just about their own prospects, but the economy's as well.

The Dow Jones industrial average rose 11 percent during the quarter, while the Standard & Poor's 500 index surged 15.2 percent. Both indexes logged their first quarterly gains since the third quarter of 2007. The Dow also had its best quarter since 2003 and the S&P 500 its best since 1998.

The S&P 500 index and the Nasdaq composite index are finishing the first half of 2009 in the black. The Nasdaq, heavily populated by tech stocks, rose 20 percent for its first winning quarter in a year and had its best quarter since 2003.

The quarter turned out better than most traders might have expected when the major indexes sank to 12-year lows in early March on growing despair about the recession. But the market's advance wasn't as impressive as it was in mid-June, when the major indexes hit multi-month highs. Since then, investors' uncertainty about the strength of an economic recovery has brought the Dow down 4 percent, the S&P 500 down 2.8 percent and the Nasdaq, 1.5 percent.

On Tuesday, the last day of the quarter, the Dow fell 82.38, or 1 percent, to 8,447.00; the S&P 500 fell 7.90, or 0.9 percent, to 919.33, and the Nasdaq slid 9.02, or 0.5 percent, to 1,835.04.

Investors have gone through a big psychological shift over the past six months. After sending the Dow plunging to a 12-year low in early March amid fears of another Great Depression, they drove it up a staggering 34 percent from mid-March to mid-June as the global economy and corporate world showed signs of stabilizing.

It was the shortest time frame for a market recovery of that size since the 1930s. And while no one knows yet if the United States was coming out of a recession during the just-ended quarter, the market as measured by the S&P 500 acted as if it was. The S&P 500 was up 13.6 percent in the first quarter of 1991 as it came out of a recession, and 16.8 percent in the fourth quarter of 1982.

"That massive fear of a complete failure in the financial system? That's been taken off the table," said Brett D'Arcy, chief investment officer of CBIZ Wealth Management. "The doomsday predictions? Those have been largely pushed aside."

But investors are well aware that American businesses may still be facing hard times. That's making the market uneasy about what corporate executives have to say in the coming weeks.

First, there's the issue of how they're making money. Companies largely cost-cut their way into profitability in the first quarter of 2009. That technique might not fly with investors looking for signs of real growth as they enter the second half of the year -- when the economic recovery is supposed to arrive.

"I don't think the markets are going to give companies a free pass anymore," said Keith Wirtz, president and chief investment officer at Fifth Third Asset Management in Cincinnati.

Second, investors want to hear executives' take on the economy. Outlooks are important in any business environment because companies offer more detailed views into economic indicators such as orders, inventories and consumer trends.

Even if the forecasts are disappointing, analysts believe stocks are on a more solid footing than they were earlier this year. The market is no longer being driven by panic.

Still, stocks have paused and wobbled because the economic data that fired up their rally in early March haven't improved significantly the past few weeks.

"The world isn't ending," said Wirtz, but now, "all eyes and all thoughts are on the recovery side: How big will the recovery be? How strong?"

Companies aren't laying off workers as much as they were in early 2009, but the unemployment rate keeps heading toward 10 percent. Reports have shown that consumers are saving more than they're spending, and that home prices still haven't recovered.

Stocks fell Tuesday after the Conference Board's consumer confidence index fell unexpectedly in June. The Standard & Poor's/Case-Shiller index showed another decline in home prices, albeit it the smallest since June 2008.

For Wall Street's rally to continue, the market needs to experience that economic recovery, said Nicholas Colas, chief market strategist at ConvergEx.

The U.S. government has pumped trillions of dollars into the financial system and the economy. Stimulus packages usually take six to nine months to work their way through the system, so investors will be looking for those dollars showing up in corporate growth and personal spending in the second half.

The most closely watched industry during earnings season will be financial companies, Colas said, as banks have gotten the biggest boosts from the government. Colas predicts impressive second-quarter results from financial institutions, but major disappointments could thwart the market's recovery.

"If the banking system is not getting healthy or generating profits, nothing else is going to work," he said.

Fortunately, investors still seem cautiously upbeat, which might allow them to stomach some more mildly disappointing news in the coming months.

Bob Doll, global chief investment officer for equities at BlackRock Inc., anticipates U.S. stocks will log a double-digit percentage gain in 2009 -- an impressive move, though it's important to remember that Wall Street had its worst year since the Depression in 2008.

D'Arcy, Colas and Wirtz also expect the S&P 500 index, the broadest measure of the stock market, to finish the year higher.

The S&P 500 is only up 1.8 percent since the beginning of the year, and still down 41 percent from its record high in October 2007, so the second-quarter rally needs to be put in perspective, D'Arcy said.

"As long as there are no real disasters in the earnings," D'Arcy said, "we'll be fine."

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors kicked off the stock market's third quarter with a moderate gain after getting some reassuring data on manufacturing and housing.

The Dow Jones industrial average rose by 0.7 percent Wednesday, rebounding from the previous day's selloff that was triggered by a drop in consumer confidence. Other indexes made moderate advances as well.

The buying was tempered by caution ahead of Thursday's June jobs report.

The NYSE DOW closed HIGHER +57.06 points +0.68% on Wednesday July 1
Sym Last........ ........Change..........
Dow 8,504.06 +57.06 +0.68%
Nasdaq 1,845.72 +10.68 +0.58%
S&P 500 923.33 +4.01 +0.44%
30-yr Bond 4.3470% +0.0360

NYSE Volume 4,760,231,500 (prior day 5,913,933,500)
Nasdaq Volume 2,015,305,120 (prior day 2,130,378,750)


Europe
Symbol... Last...... .....Change.......
FTSE 100 4,340.71 +91.50 +2.15%
DAX 4,905.44 +96.80 +2.01%
CAC 40 3,217.00 +76.56 +2.44%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,939.93 -18.51 -0.19%
Hang Seng 18,378.73 -149.78 -0.81%
Straits Times 2,352.55 +19.41 +0.83%

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=2&asset=&ccode=

Stocks advance after mixed data; Jobs report looms

Stocks rise after data shows more stable manufacturing activity, rise in pending home sales
By Madlen Read and Ieva M. Augstums, AP Business Writers
On Wednesday July 1, 2009, 5:41 pm EDT

NEW YORK (AP) -- Investors kicked off the stock market's third quarter with a moderate gain after getting some reassuring data on manufacturing and housing.

The Dow Jones industrial average rose by 0.7 percent Wednesday, rebounding from the previous day's selloff that was triggered by a drop in consumer confidence. Other indexes made moderate advances as well.

The buying was tempered by caution ahead of Thursday's June jobs report.

"That's going to be the big one," said Chris Johnson, president of Johnson Research Group. "People are keeping their eye on the unemployment figure."

The Labor Department is expected to report another uptick in the unemployment rate to 9.6 percent, according to economists surveyed by Thomson Reuters. Growing unemployment has been keeping investors nervous about consumer spending -- a major driver of growth.

Much of Wednesday's data was positive, including a report showing more stable manufacturing activity in the United States, and another indicating the fourth straight monthly rise in pending home sales. Stocks also got a boost from European markets, which rose following similarly upbeat manufacturing data in that region.

Not all of the economic news was upbeat, however. Construction spending fell in May by more than the market expected, and according to the ADP National Employment Report, the private sector lost more jobs in June than anticipated.

Some of Wednesday's bounce may simply have been due to stocks appearing cheaper following Tuesday's drop and investors looking to put money to work as the new quarter began.

"Some of the buying that wasn't done yesterday is being done today," said Richard E. Cripps, chief market strategist for Stifel Nicolaus, adding that he was surprised by Wednesday's upward move. "There isn't a lot of convincing volume here to read too much into this."

The Dow rose 57.06, or 0.7 percent, to 8,504.06. It climbed as high as 8,580.47 in earlier trading, but then pared its gains as the day went on.

The Standard & Poor's 500 index rose 4.01, or 0.4 percent, to 923.33. The Nasdaq composite index rose 10.68, or 0.6 percent, to 1,845.72.

Scott Fullman, director of derivatives investment strategy for WJB Capital Group, said the employment report -- along with thin, pre-holiday trading volumes -- could make for a volatile market Thursday. U.S. markets are closed Friday in observance of the July Fourth holiday.

Nonetheless, investors remain optimistic that the economy will be in better shape by the end of the year. "The belief is the worst is behind us," Fullman said.

About three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to a lower-than-usual 4 billion shares, versus 4.9 billion shares the day before.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was flat at 3.54 percent.

In an upbeat earnings report, General Mills Inc. said its fiscal fourth-quarter profit nearly doubled. The maker of Cheerios cereal and Yoplait yogurt also offered earnings guidance for 2010 above analysts' expectations. Shares rose $2.16, or 3.9 percent, to $58.18.

The biggest gainer among the 30 Dow stocks was Kraft Foods Inc., another food maker. Kraft rose $1.27, or 5 percent, to $26.61.

Analysts say earnings reports coming in the next few weeks will largely determine which way the market heads in the third quarter. Investors are especially eager to hear what companies have to say about business prospects in the second half of the year.

Markets have made a stunning recovery since hitting 12-year lows in early March. All the major indexes rose by double-digit percentage points in the second quarter, while the S&P 500 index and the Nasdaq composite index finished higher for the first six months of 2009.

The major indexes have pulled back from multi-month highs in mid-June amid growing doubts about the strength of the economy's recovery.

But Eric Ross, director of research at Canaccord Adams, said he doesn't think investors have fully appreciated how much the economy has stabilized.

"They are waiting for another leg down on the market, and I'm not sure we're going to see it," Ross said. "There is too much money on the sidelines."

The Russell 2000 index of smaller companies rose 9.18, or 1.8 percent, to 517.46.

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

Light, sweet crude fell 58 cents to $69.31 a barrel on the New York Mercantile Exchange.

Overseas, Japan's Nikkei stock average fell 0.2 percent. Britain's FTSE 100 rose 2.2 percent, Germany's DAX index rose 2 percent, and France's CAC-40 jumped 2.4 percent.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

The stock market found little to celebrate heading into the long holiday weekend.

Major stock indexes fell more than 2.6 percent Thursday, pushing the Dow Jones industrials to their lowest level in six weeks, after the government said the unemployment rate hit a 26-year high and employers cut far more jobs than expected.

The data was especially disappointing since it broke a trend of four straight months of improvement in job losses. The report -- one of the most closely watched gauges of the economy's health -- delivered the latest blow to the market's already waning confidence.

The NYSE DOW closed LOWER -223.32 points -2.63% on Thursday July 2
Sym Last........ ........Change..........
Dow 8,280.74 -223.32 -2.63%
Nasdaq 1,796.52 -49.20 -2.67%
S&P 500 896.42 -26.91 -2.91%
30-yr Bond 4.3170% -0.0300

NYSE Volume 4,799,210,000 (prior day 4,760,231,500)
Nasdaq Volume 1,961,398,500 (prior day 2,015,305,120)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,234.27 -106.44 -2.45%
DAX 4,718.49 -186.95 -3.81%
CAC 40 3,116.41 -100.59 -3.13%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,876.15 -63.78 -0.64%
Hang Seng 18,178.05 -200.68 -1.09%
Straits Times 2,320.82 -31.73 -1.35%

http://finance.yahoo.com/news/Jobless-data-sends-stocks-apf-1457412974.html?x=0

Jobless data sends stocks reeling; Dow loses 223

Stocks tumble as US unemployment rate reaches 26-year high; Dow has worst day since April

By Stephen Bernard and Ieva M. Augstums, AP Business Writers
On Thursday July 2, 2009, 6:37 pm EDT

NEW YORK (AP) -- The stock market found little to celebrate heading into the long holiday weekend.

Major stock indexes fell more than 2.6 percent Thursday, pushing the Dow Jones industrials to their lowest level in six weeks, after the government said the unemployment rate hit a 26-year high and employers cut far more jobs than expected.

The data was especially disappointing since it broke a trend of four straight months of improvement in job losses. The report -- one of the most closely watched gauges of the economy's health -- delivered the latest blow to the market's already waning confidence.

Investor optimism has been shaken in recent weeks amid a barrage of mixed economic reports, making for an erratic market.

This past week was no exception. Stocks rose Monday, then erased nearly all their gains the following day after a report showing an unexpected drop in consumer confidence.

On Wednesday the market bounced back after getting some reassuring data on manufacturing and housing, only to tumble again on Thursday on the disappointing jobs report.

"There's not a lot of conviction on either side," said Jill Evans, co-portfolio manager of the Alpine Dynamic Dividend Fund.

The Dow Jones industrials lost 223.32, or 2.6 percent, to 8,280.74, the lowest close since May 22. It was the average's worst day since April 20.

The Standard & Poor's 500 index fell 26.91, or 2.9 percent, to 896.42 and the Nasdaq composite index fell 49.20, or 2.7 percent, to 1,796.52.

Trading on the New York Stock Exchange was extended until 4:15 p.m. Eastern time in order to execute customer orders impacted by system irregularities, an NYSE spokeswoman said.

The stock market rallied furiously this spring off of 12-year lows beginning in early March on hopes for a recovery, but the upward momentum has stalled since mid-June as doubts grow about whether the economy had really found a bottom.

Since hitting multi-month highs on June 12, the Dow has fallen a total of 5.9 percent, while the S&P 500 index has lost 5.3 percent.

"There's more and more evidence mounting against this rally continuing," said Doug De Groote, a managing director at United Wealth Management. Consumers are likely to lead the nation out of the ongoing recession, but that won't happen if more people are losing their jobs, he said.

Stocks started the day down and stayed there after the Labor Department reported that employers slashed 467,000 jobs in June, far worse than the 363,000 that economists expected and a grim signal that the path to recovery will be bumpy. The unemployment rate rose to 9.5 percent from 9.4 percent the month before.

Overseas markets also fell Thursday after a report showed unemployment in Europe rose to a 10-year high in May.

As stock prices fell across the board, other signs of investor unease emerged. Treasury prices rose, driving the yield on the 10-year note down to 3.50 percent from 3.54 percent late Wednesday.

Meanwhile a gauge of volatility in the stock market, the Chicago Board Options Exchange Volatility Index, or VIX, jumped 1.73, or 6.6 percent, to 27.95 Thursday afternoon.

Declining issues outnumbered advancers by about 5 to 1 on the New York Stock Exchange.

Consolidated volume came to a relatively low 3.56 billion shares ahead of the holiday weekend, compared with 4 billion shares traded a day earlier. Light volume can lead to more volatile swings in trading.

Markets will be closed Friday in observance of the Independence Day holiday.

For the week, the Dow finished down 1.9 percent; the S&P 500 lost 2.5 percent; and the Nasdaq fell 2.3 percent.

An upbeat report about May factory orders was not enough to boost traders' confidence amid the weak employment numbers. The Commerce Department said total orders rose 1.2 percent in May, better than the 0.8 percent increase that economists had expected.

Markets kicked off the third quarter on Wednesday with gains as investors found encouragement in a report showing more stable manufacturing activity and another indicating the fourth straight monthly rise in pending home sales.

Next week, the focus will shift to companies' quarterly earnings, which kick off Wednesday with a report from aluminum producer Alcoa Inc.

The dollar rose against most other major currencies, while gold prices fell.

The Russell 2000 index of smaller companies fell 20.25, or 3.9 percent, to 497.21.

Overseas, Japan's Nikkei stock average fell 0.6 percent. Britain's FTSE 100 fell 2.5 percent, Germany's DAX index declined 3.8 percent, and France's CAC-40 fell 3.1 percent.

The Dow Jones industrial average closed the week down 157.65, or 1.9 percent, at 8,280.74. The Standard & Poor's 500 index fell 22.48, 2.5 percent, to 896.42. The Nasdaq composite index fell 41.70, or 2.3 percent, to 1,796.52.

The Russell 2000 index, which tracks the performance of small company stocks, fell 16.01, or 3.1 percent, for the week to 497.21.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,201.07, down 216.44, or 2.3 percent, for the week. A year ago, the index was at 12,842.33.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Friday July 3 -- Wall Street's closure for the Independence Day holiday

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,236.28 +2.01 +0.05%
DAX 4,708.21 -10.28 -0.22%
CAC 40 3,119.51 +3.10 +0.10%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,816.07 -60.08 -0.61%
Hang Seng 18,203.40 +25.35 +0.14%
Straits Times 2,299.75 -21.07 -0.91%


http://finance.yahoo.com/news/European-stocks-calm-as-US-apf-2468753027.html?x=0

European stocks calm as US readies for 4th of July

European markets steady as US readies for Independence Day celebrations
By Pan Pylas, AP Business Writer
On Friday July 3, 2009, 12:34 pm EDT

LONDON (AP) -- European stock markets traded in a narrow range Friday as investors caught their breath after big losses the day before on U.S. jobs data. Wall Street's closure for the Independence Day holiday kept trading volumes exceptionally light.

The FTSE 100 index of leading British shares closed up 2.01 points, or 0.1 percent, at 4,236.28, while Germany's DAX fell 10.28 points, or 0.2 percent, to 4,708.21. The CAC-40 in France was 3.10 points, or 0.1 percent, higher at 3,119.51.

Earlier, Asian markets mostly fell but the losses were tame compared to those recorded on Wall Street on Thursday after the payrolls data, which showed U.S. employers slashed 467,000 jobs in June -- 100,000 more than anticipated.

That was also the first increase in monthly jobs losses since January.

"Yesterday's U.S. jobs data contained plenty of bad news and put a big question mark over the 'green shoot' thesis that we are through the worst and that economic recovery is around the corner," said Neil Mackinnon, chief economist at ECU Group.

Equities rose from the middle of March until the start of June on hopes that the U.S. economy in particular will recover from recession sooner than anticipated. Many investors saw stock valuations as particularly cheap and started buying. But bad economic news over the last few weeks brought an abrupt end to the rally and altered the general mood prevailing among investors.

Nevertheless, stocks around the world still managed to achieve one of the best quarters in years during the second quarter. The S&P 500 index in the U.S. rose around 16 percent during the quarter, its best performance since 1998, amid hopes of a global recovery despite worries about the banking system, public finances and the length and depth of the recession.

Trading has been subdued as the U.S. has a day off ahead of Saturday's 4th of July celebrations and many in London focused on the Wimbledon tennis championships semi-finals, where Andy Murray was facing American Andy Roddick as the markets closed in an attempt to become the first Briton for 71 years to make the final.

"With New York shut for Independence Day the boys and girls in equity trading rooms are levitating two inches above the carpet in anticipation of the two Andys swapping rackets at 50 paces... and care little about the vagaries of the market place," said David Buik, a markets analyst at BGC Partners in London.

Earlier, Japan's Nikkei 225 stock average dropped 60.08 points, or 0.6 percent, to 9,816.07, and Hong Kong's Hang Seng closed up 25.35 points, or 0.1 percent, to 18,203.40 after trading in the red most of the day.

Australia's benchmark fell 1.4 percent, and Singapore's main index finished down 1 percent.

China's Shanghai Composite index was largely flat. In Korea, the Kospi rebounded to close up 0.6 percent.

Oil prices rose in light holiday trading volume after tumbling the day before as the disappointing U.S. job numbers raised concerns about demand. Benchmark crude for August delivery fell 48 cents to $66.25 a barrel.

The dollar was up 0.1 percent at 96 yen, while the euro rose 0.3 percent to $1.3992.
513

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors are fearing they may have bet too soon on an economic comeback.

Stocks ended mostly lower Monday as drops in prices for oil and other commodities had investors worrying again that demand for basic materials may remain slack. The major market indexes closed mixed but off of their lows for the day.

The drop in oil to a five-week low pushed energy and commodities stocks lower and sent investors into safe-haven parts of the market, like consumer goods producers. Occidental Petroleum slid 2.5 percent while Procter & Gamble Co., which makes Tide and Crest, rose 2 percent.

The NYSE DOW closed HIGHER +44.13 points +0.53% on Monday July 6
Sym Last........ ........Change..........
Dow 8,324.87 +44.13 +0.53%
Nasdaq 1,787.40 -9.12 -0.51%
S&P 500 898.72 +2.30 +0.26%
30-yr Bond 4.3510% +0.0340

NYSE Volume 5,580,559,000 (prior day 4,799,210,000)
Nasdaq Volume 2,004,212,880 (prior day 1,961,398,500)


Europe
Symbol... Last...... .....Change.......
FTSE 100 4,194.91 -41.37 -0.98%
DAX 4,651.82 -56.39 -1.20%
CAC 40 3,082.16 -37.35 -1.20%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,680.87 -135.20 -1.38%
Hang Seng 17,979.41 -223.99 -1.23%
Straits Times 2,266.09 -33.66 -1.46%

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=1&asset=&ccode=

Stocks end mixed; Oil slide hits energy shares

Stock market ends mixed on conflicting signals on economy; Oil tumbles, consumer staples gain
By Tim Paradis, AP Business Writers
On Monday July 6, 2009, 6:07 pm EDT

NEW YORK (AP) -- Investors are fearing they may have bet too soon on an economic comeback.

Stocks ended mostly lower Monday as drops in prices for oil and other commodities had investors worrying again that demand for basic materials may remain slack. The major market indexes closed mixed but off of their lows for the day.

The drop in oil to a five-week low pushed energy and commodities stocks lower and sent investors into safe-haven parts of the market, like consumer goods producers. Occidental Petroleum slid 2.5 percent while Procter & Gamble Co., which makes Tide and Crest, rose 2 percent.

Back-and-forth trading Monday followed conflicting signs about the economy. Oil skidded on fears of weak demand, while a trade group's report found that activity in the services industry rose in June to its best level in nine months.

Investors have become more cautious in recent weeks following a strong rally that began in March. Some traders fear they might have been too optimistic about how soon the economy might recover from a recession that began in December 2007.

"The markets are becoming more realistic," said Subodh Kumar, global investment strategist at Subodh Kumar & Associates in Toronto. "We can't snap our fingers and have recovery."

The Dow Jones industrial average rose 44.13, or 0.5 percent, to 8,324.87, and the broader Standard & Poor's 500 index rose 2.30, or 0.3 percent, to 898.72. The technology-heavy Nasdaq composite index fell 9.12, or 0.5 percent, to 1,787.40.

Oil fell $2.68 to settle at $64.05 per barrel on the New York Mercantile Exchange. Last week, oil hit an eight-month high above $73.

In economic news, the Institute for Supply Management's services index rose to 47 in June from 44 in May, beating the expectation of 45.5 from economists polled by Thomson Reuters.

The relatively good showing, however, wasn't enough to assuage growing doubts about the economy that worsened last week on disappointing reports on consumer confidence and deep job cuts for June.

The stock market has relatively few guideposts to give it direction this week ahead of second-quarter earnings reports, which get under way Wednesday with Dow component Alcoa Inc. but don't pick up speed until next week.

Sound results at a Treasury Department auction of $8 billion in 10-year Treasury Inflation-Protected Securities, or TIPS, helped reassure investors that the government will be able to finance its spending plans to help revive the economy.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note was up slightly at 3.51 percent, compared with late Thursday's 3.50 percent, and the yield on the three-month T-bill rose to 0.16 percent from 0.15 percent. U.S. markets were closed Friday for the July Fourth holiday.

An analyst upgraded his rating on American Express Co., saying that the credit card company would be among the least affected by regulatory changes and that worries about bad debt are easing. The stock rose $1.25, or 5.6 percent, to $23.52.

The drop commodities hit companies like Exxon Mobil Corp., which fell 39 cents, or 0.6 percent, to $68.10, and Occidental, down $1.58, or 2.5 percent, at $61.70.

Alcoa fell 60 cents, or 6.1 percent, to $9.26, while Freeport-McMoRan Copper & Gold Inc. fell $3.78, or 7.6 percent, to $45.94.

Among consumer staples companies, P&G rose $1.06, or 2.1 percent, to $52.17.

The mixed trading comes after the market reached a plateau in mid-June, mainly holding on to the gains it notched this spring. Investors are looking for confirmation of an economic recovery to take stocks higher. The upcoming earnings season and any forecasts companies make about the rest of the year are sure to answer questions about where the market goes next.

"There is a sense that the fundamentals in the marketplace haven't caught up with the technical rally that we got in March," said Dan Deming, a trader with Strutland Equities in Chicago.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to a light 4.63 billion shares, compared with 3.56 billion traded Thursday.

The Russell 2000 index of smaller companies fell 3.18, or 0.6 percent, to 494.03.

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

Overseas, Britain's FTSE 100 fell 1 percent, Germany's DAX index fell 1.2 percent, and France's CAC-40 slid 1.1 percent. Japan's Nikkei stock average fell 1.4 percent.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Falling oil prices are becoming another sign of investors' deflating hopes for a speedy economic recovery.

Major stock indexes skidded 2 percent Tuesday as crude fell for the fifth straight day and the Dow Jones industrial average fell 161 points to its lowest close since late April.

Lower oil prices can help the economy by reducing costs, but investors are looking to the latest slide as an unwelcome prediction that demand for energy and basic materials will remain weak as the recession lingers.

The NYSE DOW closed LOWER -161.27 points -1.94% on Tuesday July 7
Sym Last........ ........Change..........
Dow 8,163.60 -161.27 -1.94%
Nasdaq 1,746.17 -41.23 -2.31%
S&P 500 881.03 -17.69 -1.97%
10 Yr Bond(%) 3.4600% -0.0460

NYSE Volume 5,544,895.000 (prior day 5,580,559,000)
Nasdaq Volume 2,072,804.38 (prior day 2,004,212,880)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,187.00 -7.91 -0.19%
DAX 4,598.19 -53.63 -1.15%
CAC 40 3,048.57 -33.59 -1.09%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,647.79 -33.08 -0.34%
Hang Seng 17,862.27 -117.14 -0.65%
Straits Times 2,272.26 +6.17 +0.27%

http://finance.yahoo.com/news/Slumping-crude-oil-prices-apf-1815314018.html?x=0

Slumping crude oil prices drag stock market lower

Stocks slump as tumbling oil prices drag energy shares down; Jitters grow about earnings
By Sara Lepro, AP Business Writer
On Tuesday July 7, 2009, 5:52 pm EDT

NEW YORK (AP) -- Falling oil prices are becoming another sign of investors' deflating hopes for a speedy economic recovery.

Major stock indexes skidded 2 percent Tuesday as crude fell for the fifth straight day and the Dow Jones industrial average fell 161 points to its lowest close since late April.

Lower oil prices can help the economy by reducing costs, but investors are looking to the latest slide as an unwelcome prediction that demand for energy and basic materials will remain weak as the recession lingers.

Trading volume remained light amid a dearth of news about the economy this week and as investors await the beginning of the second-quarter earnings season, which starts Wednesday with Alcoa Inc. but won't pick up speed until next week.

Stocks have drifted lower in recent days as the market's confidence about the economy took hits from a poor jobs report for June, waning consumer confidence and plunging commodities prices.

That stoked fears that the market might have gotten ahead of itself in March and April, when investors sent stocks soaring in hopes that a nearly two-year-long recession will end some time this year. The next guideposts for the market will be the forecasts companies give during earnings reports about how business conditions look for the rest of the year.

"Uncertainty has crept back into the picture," said Carl Beck, partner at Harris Financial Group. "We started to get some data that put a damper on some of the optimism that had been growing about the economic recovery and that sort of put everything on hold until we start hearing from companies."

The Dow fell 161.27, or 1.9 percent, to 8,163.60. It was the lowest finish for the blue chips since April 28.

The broader Standard & Poor's 500 index fell 17.69, or 2 percent, to 881.03, its lowest finish since May 1. The Nasdaq composite index lost 41.23, or 2.3 percent, to 1,746.17, the lowest close since May 27.

Stocks ended mixed on Monday after all the major indexes posted losses last week. The Dow and the S&P 500 have shed about 7 percent since their recent highs on June 12. The Dow is still up 25 percent from a 12-year low hit on March 9 and the S&P 500 index is up 30.2 percent.

Oil tumbled from an eight-month high hit last week on concerns that a weak economy will dampen demand for energy.

Light, sweet crude fell $1.12 to settle at $62.93 a barrel on the New York Mercantile Exchange, helping to send Exxon Mobil Corp. down $1.54, or 2.3 percent, to $66.56. ConocoPhillips lost 84 cents, or 2.1 percent, to $39.99.

Doreen Mogavero, president of brokerage Mogavero, Lee & Co., said thin trading volume meant many investors were standing on the sidelines. She said discussions in Washington and on trading desks about the potential for more government stimulus spending was unnerving.

"Once you start saying this is something we might have to do again, that says it's not working and that's not good," she said.

Disappointing economic news over the last few weeks, culminating in Thursday's worse-than-expected jobs report for June, has undermined investors' belief that the economy would rebound significantly.

Investors are already on edge with corporate results due. Analysts say expectations are still relatively low, so companies could do better than what the market has forecast. At the same time, companies have cut costs dramatically in recent months, which could boost profits.

"Over the next few weeks, we'll get a real sense for whether there are reasons to be optimistic about the business outlook during the second half of 2009," said Michael Sheldon, chief market strategist at RDM Financial.

Despite the overall weakness in the market Tuesday, there was some buying of health care stocks after an analyst said the White House had signaled it would be open to negotiation on a public insurance option in its drive to reform health care, which would benefit managed-care companies.

Aetna Inc. jumped more than 6 percent, adding $1.53 to $25.94. Cigna Corp. rose more than 7 percent, gaining $1.77 to $25.24.

Declining issues outnumbered advancers by more than three to one on the New York Stock Exchange, where consolidated volume came to 4.6 billion shares and was essentially flat with Monday. Light volume can exaggerate market movements.

Bond prices were mostly higher as investors looked for safety. Results from an auction of $35 billion in three-year notes were mixed but demand was decent.

Investors have been worried in recent weeks that the government might have to raise interest rates to entice buyers as it issues massive amounts of debt to fund its stimulus programs. That could drive up borrowing costs. So far though, auctions have been going relatively smoothly.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.46 percent from 3.51 percent late Monday.

The dollar gained against other major currencies. Gold prices rose.

In other trading, the Russell 2000 index of smaller companies fell 9.78, or 2 percent, to 484.25.

Overseas, Britain's FTSE 100 reversed early gains and fell 0.2 percent, Germany's DAX index lost 1.2 percent, and France's CAC-40 fell 1.1 percent. Japan's Nikkei stock average fell 0.3 percent.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors can't shake their worries that the economy won't recover by the end of the year.

Stocks finished mostly lower after zigzagging for much of the day Wednesday. A mixed outlook on the economy from the International Monetary Fund and falling commodity prices added to the downbeat mood.

That tone could improve Thursday thanks to a narrower-than-expected loss from Alcoa Inc., which ushered in the second quarter earnings season after the closing bell Wednesday. The aluminum producer's shares rose 6 percent in after-hours trading.

The NYSE DOW closed HIGHER +14.81 points +0.18% on Wednesday July 8
Sym Last........ ........Change..........
Dow 8,178.41 +14.81 +0.18%
Nasdaq 1,747.17 +1.00 +0.06%
S&P 500 879.56 -1.47 -0.17%
30-yr Bond 4.1640% -0.1440

NYSE Volume 7,346,826,000 (prior day 5,544,895.000)
Nasdaq Volume 2,521,874,750 (prior day 2,072,804.38)


Europe
Symbol... Last...... .....Change.......
FTSE 100 4,140.23 -46.77 -1.12%
DAX 4,572.65 -25.54 -0.56%
CAC 40 3,009.71 -38.86 -1.27%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,420.75 -227.04 -2.35%
Hang Seng 17,721.07 -141.20 -0.79%
Straits Times 2,259.77 -12.49

http://finance.yahoo.com/news/Anxiety-over-economic-apf-2382108574.html?x=0


Anxiety over economic recovery weighs on stocks

Stocks fall amid mixed IMF report on economy, falling oil prices; Investors await earnings
By Sara Lepro, AP Business Writer
On Wednesday July 8, 2009, 6:34 pm EDT

NEW YORK (AP) -- Investors can't shake their worries that the economy won't recover by the end of the year.

Stocks finished mostly lower after zigzagging for much of the day Wednesday. A mixed outlook on the economy from the International Monetary Fund and falling commodity prices added to the downbeat mood.

That tone could improve Thursday thanks to a narrower-than-expected loss from Alcoa Inc., which ushered in the second quarter earnings season after the closing bell Wednesday. The aluminum producer's shares rose 6 percent in after-hours trading.

Traders also will also be watching retail sales figures coming out Thursday to see if slippage in consumer confidence translated into a weaker take at cash registers.

Another tumble in oil prices dragged energy shares lower on Wednesday and reflected concerns that demand for resources will remain weak as the economy struggles. More stocks fell than rose on the New York Stock Exchange, but major indicators ended mixed.

Stocks drew some support from a strong auction of 10-year Treasury notes. That helped allay one of the market's recent worries, that the government would have trouble finding enough buyers for the massive amount of debt it's issuing. Treasury's also benefited from safe-haven buying because of concerns about the economy.

After sending stocks soaring this spring on the belief that the economy was turning around, investors have put their buying on hold since mid-June as several pieces of disappointing economic data eroded the case for a quick recovery.

"There's nothing to get people to jump into the market," said Kurt Karl, chief U.S. economist at Swiss Re. "Nothing to get them excited."

The Dow Jones industrials rose 14.81, or 0.2 percent, to 8,178.41.

The broader Standard & Poor's 500 index fell 1.47, or 0.2 percent, to 879.56 and the Nasdaq composite index rose 1.00, or 0.1 percent, to 1,747.17. Both the Dow and S&P 500 hit levels not seen since May 1.

The market has already digested the most recent batch of economic news, including worse-than-expected reports on employment and manufacturing, and is becoming anxious ahead of second-quarter earnings season and the forecasts from companies that are sure to be the next big test for stocks.

Many analysts say a recovery is indeed on its way -- investors just need to be more realistic about its pace.

"At least for the first year of the expansion we're likely to see quite anemic growth," said Avery Shenfeld, chief economist at CIBC World Markets. "The message is to be patient. The broader rise in equities that we've seen since the spring will eventually prove to be warranted."

The IMF said Wednesday it expects the world economy to shrink by 1.4 percent in 2009, slightly worse than its earlier estimate of 1.3 percent. But it boosted its estimate for global economic growth in 2010 to 2.5 percent, up from its April projection of 1.9 percent.

Meanwhile, oil prices fell for a sixth straight day, dropping $2.79 to settle at $60.14 a barrel, tumbling sharply from an eight-month high of $73 in just one week.

The falling price of oil has contributed to selling on world exchanges over the past week. On Tuesday, the major U.S. indexes lost at least 2 percent, including the Dow, which fell 161 points.

Both the Dow and the S&P 500 have shed 7 percent since their recent highs on June 12. Though the weak volume that has marked trading in recent weeks shows little conviction behind the selling, analysts say the market is at risk for a further pullback if it doesn't soon get the good news it's looking for.

"This is a wave of realization," Karl said. "We were pretty excited there for awhile and things were just quite a bit ahead of the actual fundamentals of the economy."

Analysts note that investors have been shifting money out of industries they had sent sharply higher this spring, like financials and energy, and moving into more defensive areas like health care and consumer staples.

In other trading, the price of the benchmark 10-year Treasury note jumped about a point following the successful bond auction. That pushed its yield down sharply to 3.31 percent from 3.46 percent late Tuesday. That marks the lowest level for the 10-year yield since May 20.

Treasury yields have softened in recent weeks after spiking in early June to an eight-month high of 4.01 percent. The drop in long-term yields since then is good for consumers because yields are closely tied to interest rates on mortgages and other consumer loans.

The dollar mostly rose against other major currencies, while gold prices fell.

About two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.9 billion shares compared with 4.6 billion Tuesday.

The Russell 2000 index of smaller companies fell 4.57, or 1 percent, to 479.68.

Overseas, Britain's FTSE 100 index fell 1.1 percent, Germany's DAX lost 0.6 percent and France's CAC-40 fell 1.3 percent. Japan's Nikkei stock average fell 2.4 percent.

 

[roadtripping]

Thanks for these updates BigDog.
Are you, - or anyone - aware of a free "live" Dow or S&P 500 site where real-time futures prices are quoted?

e.g. The local real-time SPI 200 I find helpful in this regard.
(it's at ... http://www.sfe.com.au/content/prices/rtp15sfAP.html )

cheers, Boo.

 

[bigdog]

NYSE Dow Jones finished today at:
Source: http://finance.yahoo.com

Investors are finding some appetite for risk after a jittery week

Stocks edged higher Thursday, with all the major indexes rising in the single digits. Investors encouraged by better-than-expected results from aluminum maker Alcoa Inc. put money into stocks they recently avoided: commodities producers, banks and industrial companies.

Money also moved into more economically sensitive industries such as technology and energy, which stand to gain more if a recovery takes hold. And it came out of defensive shares such as consumer staples and health care stocks -- a positive sign for a market that has been losing hope for a quick recovery


The NYSE DOW closed HIGHER +4.76 points +0.06% on Thursday July 9
Sym Last........ ........Change..........
Dow 8,183.17 +4.76 +0.06%
Nasdaq 1,752.55 +5.38 +0.31%
S&P 500 882.68 +3.12 +0.35%
30-yr Bond 4.3180% +0.1540

NYSE Volume 4,945,475,000 (prior day 7,346,826,000)
Nasdaq Volume 1,908,234,750 (prior day 2,521,874,750)


Europe
Symbol... Last...... .....Change.......
FTSE 100 4,158.66 +18.43 +0.45%
DAX 4,630.07 +57.42 +1.26%
CAC 40 3,025.94 +16.23 +0.54%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,291.06 -129.69 -1.38%
Hang Seng 17,790.59 +69.52 +0.39%
Straits Times 2,309.54 +49.77 +2.20%

http://finance.yahoo.com/news/Gains-in-financials-apf-2614691722.html?x=0

Gains in financials, technology stocks lift market

Stocks edge higher as investors' appetite for risk improves; financials, technology gain
By Sara Lepro and Tim Paradis, AP Business Writers
On Thursday July 9, 2009, 6:05 pm EDT

NEW YORK (AP) -- Investors are finding some appetite for risk after a jittery week

Stocks edged higher Thursday, with all the major indexes rising in the single digits. Investors encouraged by better-than-expected results from aluminum maker Alcoa Inc. put money into stocks they recently avoided: commodities producers, banks and industrial companies.

Money also moved into more economically sensitive industries such as technology and energy, which stand to gain more if a recovery takes hold. And it came out of defensive shares such as consumer staples and health care stocks -- a positive sign for a market that has been losing hope for a quick recovery

The gains were tempered by weak sales reports from retailers and evidence that the labor market is still hurting.

The Labor Department said the number of initial jobless benefits claims fell last week to 565,000 -- the lowest level since early January and better than what analysts were expecting. However some of the improvement was due to changes in the timing of auto industry layoffs and the holiday-shortened week, and the number of continuing claims unexpectedly jumped to a new high.

U.S. retailers did little to help the bull case for the economy, reporting generally weaker monthly sales, with apparel sellers taking some of the biggest hits.

Investors' selective buying Thursday was a sign they are hesitant to resume the ebullient rally that drove market indicators up as much as 40 percent during the spring. Stocks started to falter in mid-June as several grim economic reports suggested that a recovery was much further away than anticipated. Major market indexes are down about 7 percent since June 12.

Analysts expect the market will make little headway until investors have a clearer picture from companies of where the economy is headed. Second-quarter earnings reports are just starting, and will begin to come out in earnest next week.

"I don't see anything breathing yet," said Steven Stahler, president of The Stahler Group in Baton Rouge, La., of the economy. "We can drift sideways for a long time. There are so many loose ends and so many unknowns."

The Dow Jones industrial average rose 4.76, or 0.1 percent, to 8,183.17, the second day of modest gains after a 161-point drop on Tuesday. The blue chips crossed zero 108 times during trading.

The broader Standard & Poor's 500 index rose 3.12, or 0.4 percent, to 882.68, while the Nasdaq composite index gained 5.38, or 0.3 percent, to 1,752.55.

While investors are cautious, they're not showing any signs of trying to return the market to its 12-year lows reached in March. A widely followed indicator known as the fear index, the Chicago Board Options Exchange's Volatility Index, remained at relatively low levels. The VIX, as it's called, fell 4.9 percent to 29.78. It's down 25.6 percent in 2009 and its historical average is 18-20. It reached a record 89.5 in October at the height of the financial crisis.

Bond prices fell, sending their yields lower. An auction of $11 billion of 30-year bonds did little to move the market. The yield on the benchmark 10-year Treasury note, a widely used benchmark for mortgages and other loans, rose to 3.41 percent from 3.31 percent late Thursday.

About three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 4.3 billion shares, compared with 5.9 billion Wednesday.

Oil prices rose after six days of selling. Crude rose 27 cents to settle at $60.41 a barrel on the New York Mercantile Exchange. A little over a week ago, crude prices stood at $73 a barrel. Falling oil had been pressuring markets around the world in recent days.

Alcoa fell 23 cents to $9.23. After trading ended Wednesday, the aluminum producer said it lost $454 million during the second quarter, but that was below Wall Street's expectations. Investors came away from reading Alcoa's report with the hope that companies had weathered the worst of the recession.

In other trading, the Russell 2000 index of smaller companies slipped 0.41, or 0.1 percent, to 479.27.

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

Overseas, Britain's FTSE 100 rose 0.5 percent, Germany's DAX index gained 1.3 percent, and France's CAC-40 added 0.5 percent. Japan's Nikkei stock average fell 1.4 percent.