NYSE Dow Jones finished today at:

[bigdog]

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

The Dow fell 36.65, or 0.5 percent, to 8,146.52. It was the lowest close for the blue chips since April 28.

The broader S&P 500 index lost 3.55, or 0.4 percent, to 879.13, while the Nasdaq composite index rose 3.48, or 0.2 percent, to 1,756.03. A handful of upgrades to technology shares helped shore up the Nasdaq.

For the week, the Dow lost 1.6 percent, the S&P 500 index slid 1.9 percent and the Nasdaq lost 2.3 percent.

Investors seem to be running short on hope.

With little upbeat news ahead of a crush of corporate earnings reports next week, stocks on Friday hit their longest losing streak since the market's spring rally began in early March.

Unrelenting worries over the economy, driven by poor reports on unemployment, consumer confidence and falling commodity prices, have kept investors largely out of stocks since mid-June.

The NYSE DOW closed LOWER -36.65 points -0.45% on Friday July 10
Sym Last........ ........Change..........
Dow 8,146.52 -36.65 -0.45%
Nasdaq 1,756.03 +3.48 +0.20%
S&P 500 879.13 -3.55 -0.40%
30-yr Bond 4.2010% -0.1170

NYSE Volume 4,450,927,500 (prior day 4,945,475,000)
Nasdaq Volume 1,690,414,380 (prior day 1,908,234,750)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,127.17 -31.49 -0.76%
DAX 4,576.31 -53.76 -1.16%
CAC 40 2,983.10 -42.84 -1.42%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,287.28 -3.78 -0.04%
Hang Seng 17,708.42 -82.17 -0.46%
Straits Times 2,307.98 +0.37 +0.02%

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

Stocks post 4th straight week of losses

Earnings jitters, slumping oil push stocks down, giving market its 4th straight week of losses
By Sara Lepro, AP Business Writer
On Friday July 10, 2009, 5:48 pm EDT

NEW YORK (AP) -- Investors seem to be running short on hope.

With little upbeat news ahead of a crush of corporate earnings reports next week, stocks on Friday hit their longest losing streak since the market's spring rally began in early March.

Unrelenting worries over the economy, driven by poor reports on unemployment, consumer confidence and falling commodity prices, have kept investors largely out of stocks since mid-June.

"Nobody's investing because there's no reason to invest," said Dawn Bennett, CEO of Bennett Financial Group.

Stocks zigzagged during the week, failing to hold what few gains they could muster. The Dow Jones industrials and the Standard & Poor's 500 index have now fallen four straight weeks.

Investors are on edge as the second-quarter earnings season heats up. Aluminum maker Alcoa Inc. unofficially kicked off the period with better-than-expected results on Wednesday, but a warning from Chevron Corp. late Thursday put investors back on the defensive. Alcoa and Chevron are among the 30 stocks that make up the Dow.

The pace of reports picks up speed next week with results coming in from heavy hitters such as Johnson & Johnson, JPMorgan Chase & Co., Google Inc. and General Electric Co.

Investors are looking to the reports, and especially the forecast companies give on the remainder of the year, for insight into where the economy is headed. Expectations are generally low as investors worry that they were too quick to expect a rebound in the economy when they began bidding stocks sharply higher in March. With little to fuel more gains, the rally has fizzled.

The Dow fell 36.65, or 0.5 percent, to 8,146.52. It was the lowest close for the blue chips since April 28.

The broader S&P 500 index lost 3.55, or 0.4 percent, to 879.13, while the Nasdaq composite index rose 3.48, or 0.2 percent, to 1,756.03. A handful of upgrades to technology shares helped shore up the Nasdaq.

For the week, the Dow lost 1.6 percent, the S&P 500 index slid 1.9 percent and the Nasdaq lost 2.3 percent.

Oil producers fell sharply Friday after Chevron said its refining margins fell in the second quarter and will send its results for the period much lower compared with last year.

In another blow to energy stocks, the price of crude oil resumed its descent Friday following a slight pop on Thursday, which had broken six straight days of losses. Investors see the plunge in oil prices as a weak indicator for the economy, which won't be as hungry for energy as long as the recession lingers.

A barrel of crude fell 52 cents to settle at $59.89 on the New York Mercantile Exchange. Oil has fallen sharply since hitting an eight-month high of $73 early last week.

Chevron shares fell $1.68, or 2.7 percent, to $61.40, while Exxon Mobil Corp. fell 85 cents, or 1.3 percent, to $65.12.

Investors have sent major indexes down about 7 percent since mid-June on the belief that a 40 percent run-up in stocks this spring was overdone considering the problems that still plague the economy such as rising unemployment.

"Job insecurity is crushing confidence in consumer spending," said John Skjervem, chief investment officer for Northern Trust's Personal Financial Services. "There is not a lot of good news to hang on to."

The market did get one piece of decent news on the economic front Friday as the Commerce Department said the U.S. trade deficit narrowed to $26 billion in May, the lowest level in more than nine years.

Small gains in technology shares buffered the market's losses. Some technology companies moved higher after Goldman Sachs upgraded its view on both hardware and software providers, noting signs of stabilization in the industry.

Citrix Systems Inc. gained 78 cents, or 2.5 percent, to $32.20. Yahoo Inc. shares rose more than 2 percent, adding 38 cents to $14.93, after an upgrade from Thomas Weisel.

Bond prices rose, sending their yields lower. The yield on the benchmark 10-year Treasury note, a widely used benchmark for consumer loans such as mortgages, fell to 3.30 percent from 3.41 percent late Thursday.

In other trading, the Russell 2000 index of smaller companies rose 1.71, or 0.4 percent, to 480.98.

Declining stocks narrowly outpaced those that rose on the New York Stock Exchange, where consolidated volume came to a relatively low 3.8 billion shares compared with 4.3 billion shares Thursday.

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

Overseas, Britain's FTSE 100 fell 0.8 percent, Germany's DAX index fell 1.2 percent and France's CAC-40 lost 1.4 percent. Japan's Nikkei stock average slipped less than 0.1 percent.

The Dow Jones industrial average closed the week down 134.22, or 1.6 percent, at 8,146.52. The Standard & Poor's 500 index fell 17.29, 1.9 percent, to 879.13. The Nasdaq composite index fell 40.49, or 2.3 percent, to 1,756.03.

The Russell 2000 index, which tracks the performance of small company stocks, fell 16.23, or 3.3 percent, for the week to 480.98.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,000.28, down 200.79, or 2.2 percent, for the week. A year ago, the index was at 12,746.27.

886

 

[bigdog]

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

A change of heart by a usually downbeat analyst yanked the stock market from its slumber.

Soaring financial shares propelled indexes to their biggest one-day gain in six weeks Monday after influential banking analyst Meredith Whitney raised her rating on Goldman Sachs Group Inc., which reports earnings on Tuesday. Whitney also said on CNBC that hard-hit Bank of America Corp. looks inexpensive given the assets on its books.

The Dow Jones industrial average jumped 185 points in relatively thin trading volume. It was the best performance for the blue chips since June 1 and follows a month of often directionless trading in which investors looked for any fresh sign that the economy was improving, not simply licking its wounds.

The NYSE DOW closed HIGHER +185.16 points +2.27% on Monday July 13
Sym Last........ ........Change..........
Dow 8,331.68 +185.16 +2.27%
Nasdaq 1,793.21 +37.18 +2.12%
S&P 500 901.05 +21.92 +2.49%
30-yr Bond 4.2330% +0.0320

NYSE Volume 5,492,539,500 (prior day 4,450,927,500)
Nasdaq Volume 1,947,562,750 (prior day 1,690,414,380)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,202.13 +74.96 +1.82%
CAX 4,722.34 +146.03 +3.19%
CAC 40 3,052.08 +68.98 +2.31%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,050.33 -236.95 -2.55%
Hang Seng 17,254.63 -453.79 -2.56%
Straits Times 2,269.77 -38.21 -1.66%

http://finance.yahoo.com/news/Financials-pull-stocks-higher-apf-1742403052.html?x=0

Financials pull stocks higher ahead of earnings

Stocks surge ahead of earnings reports as analyst upgrades Goldman Sachs; Dow jumps 185
By Tim Paradis and Stephen Bernard, AP Business Writers
On Monday July 13, 2009, 6:28 pm EDT

NEW YORK (AP) -- A change of heart by a usually downbeat analyst yanked the stock market from its slumber.

Soaring financial shares propelled indexes to their biggest one-day gain in six weeks Monday after influential banking analyst Meredith Whitney raised her rating on Goldman Sachs Group Inc., which reports earnings on Tuesday. Whitney also said on CNBC that hard-hit Bank of America Corp. looks inexpensive given the assets on its books.

The Dow Jones industrial average jumped 185 points in relatively thin trading volume. It was the best performance for the blue chips since June 1 and follows a month of often directionless trading in which investors looked for any fresh sign that the economy was improving, not simply licking its wounds.

Investors latched on to Whitney's comments because she has for years offered one of the more pessimistic -- and accurate -- assessments of the banking business. While she remains cautious on banks overall, Whitney's newfound optimism on a few key players was enough to send financial shares sharply higher, including BofA, which gained 9.3 percent.

Traders saw the hopeful outlook on banks as a sign other industries could be in better shape than analysts had estimated. Hundreds of earnings reports from the April-June quarter are due this week. By the end of last week, major stock indicators had fallen 7 percent since mid-June as investors found little reason to push stocks higher and worried the rally had been overdone.

"The market basically took a big pause," said David Kelly, chief market strategist at JPMorgan Funds. He said stocks had drifted too far and were due for a bounce. "Any sign that a normal economy might get re-established should push the market higher."

Goldman Sachs has long been considered the strongest bank in the recession, but Bank of America has been one of the hardest hit by loan losses. Any improvement in banks' profits could shore up their financial position and free money for lending, which could have a positive ripple effect on other industries in need of financing.

Beyond Goldman, Bank of America, JPMorgan Chase & Co., and Citigroup Inc. are all scheduled to report second-quarter results this week. Banks have taken some of the biggest blows since the recession began in late 2007 as investment and loan losses mounted.

"There is a contingency of traders out there that believe the market can't recover without financials," said Randy Frederick, director of trading and derivatives at Charles Schwab.

The Dow rose 185.16, or 2.3 percent, to 8,331.68. All 30 stocks rose for the first time since March 23.

The Standard & Poor's 500 index jumped 21.92, or 2.5 percent, to 901.05, its first finish over the 900 mark since July 1. It was the S&P's best day since June 1.

The Nasdaq composite index rose 37.18, or 2.1 percent, to 1,793.21 and also posted its best performance since the start of June.

Among financial stocks, Goldman rose $7.57, or 5.3 percent, to $149.44 and Bank of America rose $1.11, or 9.3 percent, to $12.99.

The KBW Bank Index, which tracks 24 of the nation's largest banks, rose 6.5 percent.

The short-term buy call on Goldman from Whitney comes after the stock has risen 72 percent this year, but investors appeared to be looking past the fact that it had already had such a big advance.

Many analysts had been expecting the company would turn in strong profits for the second quarter. Goldman last month repaid the $10 billion it received last fall as part of the government's $700 billion bank bailout program.

The upswing in financial stocks did little to help CIT Group Inc. The commercial finance lender is struggling to get more help from the federal government and says it is talking with regulators about ways to improve its liquidity. The stock fell 18 cents, or 11.8 percent, to $1.35.

Earnings reports will give investors a chance to see whether there was any meaningful economic improvement during the second quarter. Reports are expected from major companies in a range of industries this week, including Johnson & Johnson, International Business Machines Corp., and General Electric Co. and technology bellwethers Intel Corp. and Google Inc.

The S&P 500 index had fallen for four straight weeks through last week after jumping 40 percent from a 12-year low in early March.

The gains in stocks cooled demand for the safety of government debt, hurting prices and lifting yields. The yield on the benchmark 10-year Treasury note jumped to 3.35 percent from 3.30 percent late Friday.

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

Light, sweet crude fell 20 cents to settle $59.69 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 12.33, or 2.6 percent, to 493.31.

Five stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.6 billion shares compared with 3.8 billion Friday.

Overseas, Britain's FTSE 100 rose 1.8 percent, Germany's DAX index gained 3.2 percent, and France's CAC-40 rose 2.3 percent. Japan's Nikkei stock average fell 2.6 percent.

 

[bigdog]

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

Investors got the results they wanted from Goldman Sachs, but the stock market's response was just a modest pop.

Mixed economic data Tuesday reminded investors of the challenges businesses still face and left the market zigzagging all day. Stocks gained on a handful of strong earnings, while Treasurys tumbled on news of a jump in inflation.

Investors were pleased that Goldman Sachs Group Inc.'s second-quarter earnings easily surpassed analysts' forecasts thanks to big gains in trading and underwriting. But the release of the results came as something of an anticlimax, as anticipation of a strong report sent the entire stock market soaring Monday.

The NYSE DOW closed HIGHER +27.81 points +0.33% on Tuesday July 14
Sym Last........ ........Change..........
Dow 8,359.49 +27.81 +0.33%
Nasdaq 1,799.73 +6.52 +0.36%
S&P 500 905.84 +4.79 +0.53%
30-yr Bond 4.3490% +0.1160

NYSE Volume 4,846,631,500 (prior day 5,492,539,500)
Nasdaq Volume 1,912,860,380 (prior day 1,947,562,750)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,237.68 +35.55 +0.85%
DAX 4,781.69 +59.35 +1.26%
CAC 40 3,081.87 +29.79 +0.98%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,261.81 +211.48 +2.34%
Hang Seng 17,885.73 +631.10 +3.66%
Straits Times 2,310.55 +43.91 +1.94%

http://finance.yahoo.com/news/Goldman-Sachs-fails-to-excite-apf-879362838.html?x=0

Goldman Sachs fails to excite market; Dow up 27

Stocks eke out gains following better results from Goldman and J&J, mixed economic data
By Sara Lepro and Stephen Bernard, AP Business Writer
On Tuesday July 14, 2009, 6:04 pm EDT

NEW YORK (AP) -- Investors got the results they wanted from Goldman Sachs, but the stock market's response was just a modest pop.

Mixed economic data Tuesday reminded investors of the challenges businesses still face and left the market zigzagging all day. Stocks gained on a handful of strong earnings, while Treasurys tumbled on news of a jump in inflation.

Investors were pleased that Goldman Sachs Group Inc.'s second-quarter earnings easily surpassed analysts' forecasts thanks to big gains in trading and underwriting. But the release of the results came as something of an anticlimax, as anticipation of a strong report sent the entire stock market soaring Monday.

Johnson & Johnson also had better-than-expected results, although its profits fell 3.5 percent.

Stocks could get a boost Wednesday after Intel Corp. issued a strong profit report and better-than-expected forecast after the market closed Tuesday.

Even with strong earnings reports, however, signals about the economy remain mixed. Retail sales posted their largest gain in five months in June, but much of that increase came from higher gas prices. Prices for gas have fallen sharply since mid-June amid increasing concerns about energy demand, so the higher sales figures may not be sustainable.

Investors were also uneasy after a separate report showed wholesale prices rising far more than expected last month and the most since November 2007, due partly to higher energy costs. That sent Treasurys falling and their yields climbing.

The mix of earnings and economic reports over the next few weeks is likely to make for some difficult days on Wall Street. The stock market has already been drifting over the past month, having given up on a massive spring rally as troubling signs began to emerge on the economy including rising unemployment and waning consumer confidence. Unless companies start issuing promising outlooks for the second half of the year, it will be hard, if not impossible, for the market to resume that rally.

"We need a general consistent pattern of bullish news coming out to turn this market around," said Darin Newsom, senior analyst at DTN.

The Dow rose 27.81, or 0.3 percent, to 8,359.49. The Standard & Poor's 500 index rose 4.79, or 0.5 percent, to 905.84, while the Nasdaq composite index rose 6.52, or 0.4 percent, to 1,799.73.

The yield on the 10-year Treasury note jumped to 3.47 percent from 3.35 percent as its price fell nearly a point. Long-term government debt tends to be sensitive to reports of higher prices, as inflation erodes the value of fixed-income securities over time.

Investors sent stocks sharply higher on Monday, lifting the Dow 2.3 percent, after Meredith Whitney, a respected banking analyst, upgraded her view on Goldman. The shift stoked hopes that financial companies will show continued signs of improvement.

But Goldman's actual results had little impact as investors' focus quickly turned to the rest of the financial industry.

"Here we have a best-in-class sort of company reporting outstanding results," said Craig Peckham, an analyst with Jefferies & Co. "The earnings reports we get in the financial sector from here on out quite honestly are coming from companies that just don't have the same kind of cachet."

Goldman rose 22 cents to $149.66. Investors are also expecting reports from JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. this week.

One troubling indication that the financial industry has not fully recovered: Commercial lender CIT Group Inc. is talking with the government about receiving emergency assistance to help solve liquidity problems. CIT rose 26 cents, or 19.3 percent, to $1.61 after tumbling 11.8 percent Monday.

There were mixed forecasts from several companies. Johnson & Johnson gained 51 cents to $58.23 after its report.

Dell Inc. warned that quarterly gross margins will fall below first-quarter levels due to higher component costs and pressure to keep prices low. The stock fell $1.05, or 8.1 percent, to $11.97.

Railroad operator CSX Corp. said it expects shipping demand to sink by double-digits again this quarter, but not as drastically as the 21 percent decline in the second quarter. The stock jumped $2.26, or 7 percent, to $34.80.

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

Oil slipped 17 cents to settle at $59.52 a barrel on the New York Mercantile Exchange.

In other trading, the Russell 2000 index of smaller companies rose 3.21, or 0.7 percent, to 496.52.

More than two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to a relatively low 4.2 billion shares, down from 4.6 billion Monday.

Overseas, Japan's Nikkei stock average gained 2.3 percent. Britain's FTSE 100 rose 0.9 percent, Germany's DAX index rose 1.3 percent, and France's CAC-40 gained 1.0 percent.

 

[bigdog]

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

The nation's big companies are giving investors a reason to restart Wall Street's spring rally.

Stocks surged Wednesday for the second time in three days, propelling all the major indexes up about 3 percent and the Dow Jones industrials up 257 points for their biggest one-day gain in nearly four months. An upbeat forecast from Intel Corp. and the Federal Reserve's more positive take on the economy built on momentum that began Monday when an analyst issued an optimistic forecast for Goldman Sachs Group Inc.

The news had investors believing again that the economy may not be as weak as many have feared. Wall Street had drifted lower over the past month, putting its big spring rally on hold as hopes for a quick recovery faded.


The NYSE DOW closed HIGHER +256.72 points +3.07% on Wednesday July 15
Sym Last........ ........Change..........
Dow 8,616.21 +256.72 +3.07%
Nasdaq 1,862.90 +63.17 +3.51%
S&P 500 932.68 +26.84 +2.96%
30-yr Bond 4.4870% +0.1380

NYSE Volume 6,294,528,500 (prior day 4,846,631,500)
Nasdaq Volume 2,594,267,750 (prior day 1,912,860,380)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,346.46 +108.78 +2.57%
DAX 4,928.44 +146.75 +3.07%
CAC 40 3,171.27 +89.40 +2.90%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,269.25 +7.44 +0.08%
Hang Seng 18,258.66 +372.93 +2.09%
Straits Times 2,378.62 +68.07 +2.95%

http://finance.yahoo.com/news/Strong-results-at-Intel-pull-apf-345762644.html?x=0

Strong results at Intel pull stocks sharply higher

Stocks surge as earnings and forecast at Intel boost hopes for economic rebound; Dow jumps 257
By Tim Paradis and Stephen Bernard, AP Business Writers
On Wednesday July 15, 2009, 6:22 pm EDT

NEW YORK (AP) -- The nation's big companies are giving investors a reason to restart Wall Street's spring rally.

Stocks surged Wednesday for the second time in three days, propelling all the major indexes up about 3 percent and the Dow Jones industrials up 257 points for their biggest one-day gain in nearly four months. An upbeat forecast from Intel Corp. and the Federal Reserve's more positive take on the economy built on momentum that began Monday when an analyst issued an optimistic forecast for Goldman Sachs Group Inc.

The news had investors believing again that the economy may not be as weak as many have feared. Wall Street had drifted lower over the past month, putting its big spring rally on hold as hopes for a quick recovery faded.

The latest encouragement came from Intel, the leading computer chip maker whose much better results suggested that computer sales -- and perhaps capital investment in general -- is picking up faster than had been expected. Intel's news followed not just the upgrade of Goldman but the bank's strong profit report on Tuesday.

Meanwhile, the day's economic data were more reassuring than some of the numbers the market had seen recently. The Federal Reserve said industrial companies cut production far less in June than they had in previous months, with output at the nation's factories, mines and utilities slipping just 0.4 percent last month after sliding 1.2 percent in May.

Traders found more good news when the Fed released minutes from its June meeting, saying it now expects the economy to contract at a slower pace than previously thought.

"What we're seeing is some confirmation that stabilization is in fact upon us," said Matthew Kaufler, portfolio manager at Federated Clover Investment Advisors in Rochester, N.Y. "At least right now investors are willing to say it's not going to be as bad as feared."

Still, it's very early in the reporting period for second-quarter earnings. With so many companies still to release their results and outlooks, the market could still retreat if investors don't like what they're hearing.

The Dow jumped 256.72, or 3.1 percent, to 8,616.21, its biggest gain since March 23. The Dow is up 5.8 percent in three days, its best run since a three-day period ended April 2. The Dow is now down only 163 points from where it closed on June 12, when stocks began to slide after their surge in March and April.

The Standard & Poor's 500 index rose 26.84, or 3 percent, to 932.68, while the technology-laden Nasdaq composite index gained 63.17, or 3.5 percent, to 1,862.90, responding to Intel's news. The Nasdaq has now advanced for six straight days, giving it a gain of 6.7 percent over that stretch.

Investors are showing again this week that economic data are important but corporate earnings and forecasts can be even more effective in galvanizing buyers.

Wednesday's gain in the Dow was the best percentage climb since April 9, when the blue chips jumped 3.1 percent as banker Wells Fargo & Co.'s early profit report topped expectations. For the S&P 500 index, Wednesday's jump was the biggest since a 3 percent rally on May 18 when a better-than-expected profit report from Lowe's Cos., the home-improvement chain, helped boost sentiment.

Robert B. MacIntosh, chief economist at Eaton Vance Management in Boston, remains cautious. He said investors had been bracing for weak earnings so it doesn't take much to beat expectations and that the excitement could mask trouble spots in the economy like unemployment.

"Real growth is when you start to create some jobs," he said. "People are going to be disappointed in the weakness and the length of the recovery."

Financial stocks jumped after American Express Co. and Capital One Financial Corp. said delinquency rates improved in June. That hinted that consumers weren't struggling as much as they had been.

Amex jumped $2.76, or 11.3 percent, to $27.22, while Capital One surged $2.73, or 11.8 percent, to $25.84.

The gains in stocks robbed Treasurys of some of their safe-haven appeal as investors became more willing to take on risk. The 10-year Treasury note, a widely used benchmark for mortgages and other loans, tumbled more than a point, pushing its yield up to 3.62 percent from 3.47 percent late Tuesday.

Investors will be watching other big banks -- JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc. -- reporting second-quarter results this week to see whether the industry is recovering.

Intel rose $1.22, or 7.3 percent, to $18.05.

The dollar fell, and prices for gold and other commodities rose. Light, sweet crude rose $2.02 to settle at $61.54 per barrel on the New York Mercantile Exchange.

Nine stocks rose for every one that fell on the New York Stock Exchange, where volume came to 5.5 billion shares, compared with 4.2 billion Tuesday.

The Russell 2000 index of smaller companies rose 18.22, or 3.7 percent, to 514.74.

Stocks also surged overseas following Intel's report. Britain's FTSE 100 jumped 2.6 percent, Germany's DAX index rose 3.1 percent, and France's CAC-40 gained 2.9 percent. Hong Kong's Hang Seng index gained 2.1 percent.

 

[bigdog]

Dow Jones industrial average futures are up 20, or 0.2 percent, at 8,563. Standard & Poor's 500 index futures are up 1.6, or 0.2 percent, at 928.80, while Nasdaq 100 index futures are up 0.50, or 0.03 percent, at 1,497.75.

I can only assume that DJ will be up tomorrow morning our time!!!!!

Europe is currently up today!!
FTSE 100 4,356.42 +9.96 +0.23%
CAX 4,970.36 +41.92 +0.85%
CAC 40 3,210.05 +38.78


http://finance.yahoo.com/news/Stock-futures-rise-on-strong-apf-219301282.html?x=0
Stock futures rise on strong JPMorgan earnings

Stock futures move higher after JPMorgan Chase earnings easily beat expectations
By Stephen Bernard, AP Business Writer
On Thursday July 16, 2009, 6:49 am EDT

NEW YORK (AP) -- After a rally on better-than-expected earnings, investors are moving into the market again after JPMorgan Chase easily topped profit forecasts.

JPMorgan says its investment banking business spurred record revenue. JPMorgan's results come two days after Goldman Sachs' earnings also topped expectations.

The strong earnings from the banks has provided fuel to beliefs the economy is rebounding. However, not all financial firms are enjoying success.

Late Wednesday, CIT Group said negotiations with regulators about a possible rescue broke off.

Dow Jones industrial average futures are up 20, or 0.2 percent, at 8,563. Standard & Poor's 500 index futures are up 1.6, or 0.2 percent, at 928.80, while Nasdaq 100 index futures are up 0.50, or 0.03 percent, at 1,497.75.

 

[bigdog]

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

Investors piled into technology stocks again to extend the market's rally.

Hope for more good earnings from technology leaders made the industry an attractive bet again Thursday, a day after a strong forecast from chip maker Intel Corp. lifted stocks across the board.

The tech-laden Nasdaq composite index advanced for the seventh straight day and closed at its highest level since October as traders prepared for profit reports from Internet search company Google Inc. and International Business Machines Corp. Both posted better-than-expected profits after the closing bell.

The NYSE DOW closed HIGHER +95.61 points +1.11% on Thursday July 16
Sym Last........ ........Change..........
Dow 8,711.82 +95.61 +1.11%
Nasdaq 1,885.03 +22.13 +1.19%
S&P 500 940.74 +8.06 +0.86%
30-yr Bond 4.4460% -0.0410

NYSE Volume 5,725,740,500 (prior day 6,294,528,500)
Nasdaq Volume 2,115,912,500 (prior day 2,594,267,750)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,361.84 +15.38 +0.35%
DAX 4,957.19 +28.75 +0.58%
CAC 40 3,199.68 +28.41 +0.90%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,344.16 +74.91 +0.81%
Hang Seng 18,361.87 +103.21 +0.57%
Straits Times 2,401.02 +11.60 +0.49%

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

Gains in tech stocks extend Wall Street's rally

Tech shares lift market as traders bet on Google, IBM; Financials lag on unease over CIT
By Tim Paradis, AP Business Writer
On Thursday July 16, 2009, 6:10 pm EDT

NEW YORK (AP) -- Investors piled into technology stocks again to extend the market's rally.

Hope for more good earnings from technology leaders made the industry an attractive bet again Thursday, a day after a strong forecast from chip maker Intel Corp. lifted stocks across the board.

The tech-laden Nasdaq composite index advanced for the seventh straight day and closed at its highest level since October as traders prepared for profit reports from Internet search company Google Inc. and International Business Machines Corp. Both posted better-than-expected profits after the closing bell.

What appeared to be a turn in sentiment from economist and New York University professor Nouriel Roubini also helped lift the market. Reports said Roubini believed the worst of the economy's troubles had past, but in a statement after the close of trading he said his views are unchanged. He doesn't expect the economy to grow this year and still predicts the recession will end early next year.

Traders had welcomed what had appeared to be a turn in his sentiment because Roubini has been pessimistic about the economy and was one of the few experts to have predicted the global financial crisis.

Some analysts attributed the buying to short-covering, where investors have to buy stock after having earlier sold borrowed shares in a bet that the market would fall.

Stocks continued the week's sprint-and-jog play, carving more modest gains after surging the day before. The market surged Monday followed by a flatter day Tuesday.

"There's still concern about the market and concern about the overall economy," said Jon Biele, head of capital markets at Cowen & Co. "But the pessimism is moving to optimism. People certainly want to be in a position to gain from positive momentum."

The jump in stocks this week halted a monthlong slide that came as investors worried that a huge rally in March and April had gone too far as investors hoped for an economic recovery. This week's earnings reports have given investors some of the confirmation that the economy isn't as bad as feared, but they still want to see more evidence of a turnaround.

The Dow rose 95.61, or 1.1 percent, to 8,711.82, its highest close since June 12. The blue chips are now down only 0.7 percent for the year.

The Standard & Poor's 500 index rose 8.06, or 0.9 percent, to 940.74. The Nasdaq rose 22.13, or 1.2 percent, to 1,885.03, its best finish since Oct. 3.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.58 percent from 3.62 percent late Wednesday.

Not all results were good. Nokia Corp., the world's largest cell phone maker, fell $2.22, or 14.2 percent, to $13.46 after its second-quarter earnings tumbled 66 percent and it scrapped targets to increase market share this year.

Most results have topped expectations. Reports are due Friday from General Electric Co., Bank of America Corp. and Citigroup Inc. that likely will set the day's tone.

"A lot of traders went into earnings with very low expectations and they are happy the world hasn't fallen apart and we're seeing solid results," said Anthony Conroy, managing director and head trader for BNY ConvergEx Group. "A lot of people that were short are starting to cover because of improved earnings that have come out."

Financial stocks lagged the rest of the market after small-business lender CIT Group Inc. said negotiations with federal regulators about a rescue broke off. Investors are worried the company could file for bankruptcy protection. CIT tumbled $1.23, or 75 percent, to 41 cents.

JPMorgan Chase & Co. reported big gains in its investment banking business, held back somewhat by loan losses. Its results come two days after Goldman Sachs Group Inc. also topped expectations with much stronger results in underwriting and trading. JPMorgan slipped 13 cents to $36.13.

Strong earnings from the banks have encouraged investors about the economy. The results also show that many of the nation's biggest banks are recovering from the collapse of credit markets last fall.

Google rose $4.43, or 1 percent, to $442.60, while IBM rose $3.42, or 3.2 percent, to $110.64. Google lost ground in electronic trading after reporting its results while IBM rose.

Investors also drew encouragement from a Labor Department report that new claims for unemployment insurance fell last week by 47,000 to 522,000, the lowest level since early January. Economists polled by Thomson Reuters predicted an increase to 575,000. The improved data, however, might have been affected by the timing of automobile plant shutdowns.

In other trading, the dollar was mixed against other currencies. Gold prices fell.

Benchmark crude rose 48 cents to settle at $62.02 a barrel on the New York Mercantile Exchange.

About two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5 billion shares, down from 5.5 billion Wednesday.

The Russell 2000 index of smaller companies rose 6.38, or 1.2 percent, to 522.02.

Overseas, Britain's FTSE 100 rose 0.4 percent, Germany's DAX index rose 0.6 percent, and France's CAC-40 gained 0.9 percent. Japan's Nikkei stock average rose 0.8 percent.

 

[bigdog]

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

The Dow Jones industrial average closed the week up 597.42, or 7.3 percent, at 8,743.94. The Standard & Poor's 500 index rose 61.25, 7 percent, to 940.38. The Nasdaq composite index rose 130.58, or 7.4 percent, to 1,886.61.

The Russell 2000 index, which tracks the performance of small company stocks, rose 38.24, or 8 percent, for the week to 519.22.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,634.87, up 634.58, or 7.1 percent, for the week. A year ago, the index was at 12,850.50.

Investors are betting that the stock market has restarted its spring rally.

Stocks ended little changed Friday but held onto an enormous gain for the week. Investors are looking to another flood of corporate earnings reports next week to provide more signs that the economy is healing.

The Dow Jones industrials and the Standard & Poor's 500 index posted their best weekly performance since early March, when the market's spring rally began. Major stock indexes rose about 7 percent for the week.

The NYSE DOW closed HIGHER +32.12 points +0.37% on Friday July 17
Sym Last........ ........Change..........
Dow 8,743.94 +32.12 +0.37%
Nasdaq 1,886.61 +1.58 +0.08%
S&P 500 940.38 -0.36 -0.04%
30-yr Bond 4.5290% +0.0830

NYSE Volume 5,651,994,000 (prior day 5,725,740,500)
Nasdaq Volume 1,911,786,000 (prior day 2,115,912,500)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,388.75 +26.91 +0.62%
DAX 4,978.40 +21.21 +0.43%
CAC 40 3,218.46 +18.78 +0.59%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,395.32 +51.16 +0.55%
Hang Seng 18,805.66 +443.79 +2.42%
Straits Times 2,430.96 +29.94 +1.25%

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

Stocks cap strong week with mixed finish

Stocks end flat as companies turn in mixed quarterly results; Dow rises for 5th straight day
By Sara Lepro and Tim Paradis, AP Business Writers
On Friday July 17, 2009, 6:17 pm EDT

NEW YORK (AP) -- Investors are betting that the stock market has restarted its spring rally.

Stocks ended little changed Friday but held onto an enormous gain for the week. Investors are looking to another flood of corporate earnings reports next week to provide more signs that the economy is healing.

The Dow Jones industrials and the Standard & Poor's 500 index posted their best weekly performance since early March, when the market's spring rally began. Major stock indexes rose about 7 percent for the week.

"The earnings are better than expected and the economic news is not horrifically bad," said Jeff Buetow, managing partner at Innealta Portfolio Advisors. "I think people want the market to go up."

Solid results from Goldman Sachs Group Inc. and Intel Corp. spurred buying early in the week. But not all the results Friday were strong, so the market barely budged.

Bank of America Corp. and Citigroup Inc. became the latest banks to report big profits but also weakness in their loan portfolios. General Electric Co. beat earnings forecasts, but its revenue came up short.

"The important thing is these earnings results, while not all entirely positive, are beginning to show some signs of stabilization," said Tom Kersting, an analyst at Edward Jones.

The week's upward move has, at least for now, halted a slide that began in mid-June as investors worried the 40 percent jump in stocks this spring was overdone. Analysts said it was a healthy sign that the market was taking a breather on Friday.

"I think it's very constructive that we're taking a pause here and not heading back down," said Richard Sparks, senior equities analyst at Schaeffer's Investment Research.

Sparks said it's too early to say whether this week will be representative of the rest of earnings season. Next week's large batch of reports includes Dow components Caterpillar Inc., DuPont and Merck & Co.

The Dow Jones industrials rose 32.12, or 0.4 percent, to 8,743.94. The blue chips rose 7.3 percent for the week, the first weekly gain after a month of losses. It was the best percentage gain since the week ended March 13 and the 597-point jump was the biggest point gain since late November.

On Friday, the broader Standard & Poor's 500 index slipped 0.36, or less than 0.1 percent, to 940.38, while the Nasdaq composite index rose 1.58, or 0.1 percent, to 1,886.61.

The number of stocks that fell narrowly outpaced those that rose on the New York Stock Exchange, where consolidated trading volume came to 5 billion shares, flat with Thursday.

Financial stocks mostly fell, weighing on the broader market. Investors have been encouraged by strong profits from large banks, but there are still signs that the recession's grip hasn't eased as much as hoped, such as higher loan defaults.

BofA, which has struggled more than some of its peers from loan losses, beat Wall Street estimates just as Goldman Sachs and JPMorgan Chase & Co. did earlier in the week. However its profit fell from a year earlier as losses from delinquent loans continued to climb. BofA fell 28 cents, or 2.1 percent, to $12.89.

Citigroup, another troubled bank, surprised Wall Street with a $3 billion profit instead of the big loss analysts had expected, but results were boosted by the sale of a majority stake in its Smith Barney brokerage. Its shares fell a penny to $3.02.

One exception was CIT Group Inc., whose shares jumped 29 cents to 70 cents, on speculation that the troubled lender might be able to avoid bankruptcy. Its shares had tumbled 75 percent on Thursday after negotiations with federal regulators about a possible rescue fell through.

GE's shares dropped 6 percent after the conglomerate said its earnings fell 49 percent on losses at its financial unit and weakness in industrial businesses. The profits topped forecasts, but revenue came in $3 billion below estimates. The stock lost 75 cents to $11.65.

The reports followed mixed results from Google Inc. and IBM Corp. late Thursday.

Ken Kamen, president of Mercadien Asset Management in Hamilton, N.J., warned that investors' higher expectations could make it harder for the next batch of corporate results to impress investors.

"A lot of exuberance is being figured into the earnings coming out in the next couple of weeks," he said.

Homebuilders' shares climbed after an upbeat reading on the housing market. Construction of new homes and apartments jumped 3.6 percent in June to the highest level in seven months, beating economists' estimates. Building permits climbed 8.7 percent, also beating forecasts.

Shares of Hovnanian Enterprises Inc. rose 8 cents, or 3.3 percent, to $2.53, while DR Horton Inc. rose 26 cents, or 2.7 percent, to $9.90.

The market's moves were jagged this week, with modest gains coming after big surges. Influential banking analyst Meredith Whitney got the market off to a roaring start on Monday after raising her view on Goldman, stoking hopes that financial companies would show more signs of healing.

But the market's response to Goldman's actual report the following day was somewhat subdued amid mixed economic data. Strong earnings and an upbeat forecast from Intel pulled more investors into the market on Wednesday, and hope for more good earnings from the technology sector stirred buying again on Thursday.

Bond prices fell. The yield on the benchmark 10-year Treasury note rose to 3.65 percent from 3.58 percent late Thursday.

Oil prices rose $1.54 to settle at $63.56 a barrel. The dollar was mixed, while gold prices rose.

The Russell 2000 index of smaller companies fell 2.80, or 0.5 percent, to 519.22.

Overseas, Britain's FTSE 100 gained 0.6 percent, Germany's DAX index rose 0.4 percent, and France's CAC-40 added 0.6 percent. Japan's Nikkei stock average rose 0.6 percent.

The Dow Jones industrial average closed the week up 597.42, or 7.3 percent, at 8,743.94. The Standard & Poor's 500 index rose 61.25, 7 percent, to 940.38. The Nasdaq composite index rose 130.58, or 7.4 percent, to 1,886.61.

The Russell 2000 index, which tracks the performance of small company stocks, rose 38.24, or 8 percent, for the week to 519.22.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 9,634.87, up 634.58, or 7.1 percent, for the week. A year ago, the index was at 12,850.50.

218

 

[bigdog]

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

Investors are taking the numbers and running with them.

Stocks jumped again Monday, giving the Dow Jones industrials their sixth straight advance, as investors got more robust earnings news from big companies and data that suggests the economy is closer to a recovery. News that CIT had struck a financing deal that will keep the troubled commercial lender out of bankruptcy also drove the market higher.

A 100-point gain pushed the Dow back into the black for the year, while the Standard & Poor's 500 climbed to its highest finish since November.

The NYSE DOW closed HIGHER +104.21 points +1.19% on Monday July 20
Sym Last........ ........Change..........
Dow 8,848.15 +104.21 +1.19%
Nasdaq 1,909.29 +22.68 +1.20%
S&P 500 951.13 +10.75 +1.14%
30-yr Bond 4.4660% -0.0630

NYSE Volume 5,633,708,000 (prior day 5,651,994,000)Nasdaq Volume 2,076,208,880 (prior day 1,911,786,000)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,443.62 +54.87 +1.25%
DAX 5,030.15 +51.75 +1.04%
CAC 40 3,270.94 +52.48 +1.63%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,395.32 +51.16 +0.55%
Hang Seng 19,502.37 +696.71 +3.70%
Straits Times 2,456.15 +24.78 +1.02%

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

Stocks rally anew on more signs of economic health

Wall Street extends rally as economic data, solid earnings lift investors' spirits
By Sara Lepro and Tim Paradis, AP Business Writers
On Monday July 20, 2009, 5:58 pm EDT

NEW YORK (AP) -- Investors are taking the numbers and running with them.

Stocks jumped again Monday, giving the Dow Jones industrials their sixth straight advance, as investors got more robust earnings news from big companies and data that suggests the economy is closer to a recovery. News that CIT had struck a financing deal that will keep the troubled commercial lender out of bankruptcy also drove the market higher.

A 100-point gain pushed the Dow back into the black for the year, while the Standard & Poor's 500 climbed to its highest finish since November.

CIT Group Inc.'s deal with bondholders stoked the market's growing sense of optimism, which got a big boost last week from a string of good earnings news. The company's future was cast in doubt after negotiations with federal regulators for bailout funds fell through. Its failure would have been a blow to investor confidence and would have hurt industries like retailing, which has suppliers who rely on CIT for financing.

The market also got a stream of news that bolstered the argument that the economy is in fact heading for a recovery.

A surprisingly large rise in a predictor of future economic activity also supported stocks. The Conference Board's index of leading economic indicators rose 0.7 percent in June, more than the 0.4 percent forecast. It was the third straight month of gains.

Market indicators jumped about 7 percent last week following a monthlong slide driven by discouraging reports on the economy. Solid earnings and outlooks from leading companies including Goldman Sachs Group Inc., Intel Corp. and International Business Machines Corp. gave investors hope that the worst of the recession could be past.

An even busier week of earnings reports will further shape investors' view of the economy. Reports are due Tuesday from industrial equipment maker Caterpillar Inc. and drug maker Merck & Co.

Among the companies reporting Monday was toy maker Hasbro Inc., which beat the market's expectations and helped reassure investors somewhat about consumers' willingness to spend.

George F. Shipp, chief investment officer at Scott & Stringfellow in Virginia Beach, Va., said word that CIT might be able to sidestep bankruptcy gave investors another sign that the economy and the markets are healing because the government wasn't forced to intervene.

"The private sector is stepping in where the taxpayer didn't have to this particular time. That's the way it's supposed to work," he said.

The Dow rose 104.21, or 1.2 percent, to 8,848.15, its sixth straight advance, the longest set of gains since a seven-day rise in April 2007.

Wall Street's best-known index ended at its highest level since Jan. 6. The last time the Dow was this high stocks were just about to endure a steep drop that left the blue chips at a 12-year low on March 9.

The Dow is up 35 percent from its March low but still down 37.5 percent from its record of 14,164.53 in October 2007.

The S&P 500 index rose 10.75, or 1.1 percent, to 951.13, its best finish since Nov. 5. November's lows last year came after months of brutal selling as the financial crisis intensified in the fall with the collapse of Lehman Brothers. Investors had hoped the November lows would be the bottom of the market's retreat but stocks slid further by March.

The Nasdaq composite index rose 22.68, or 1.2 percent, to 1,909.29, its ninth straight advance. The index is at its highest mark since Oct. 3, during the most furious selling of the credit crisis.

Among the earnings news, Hasbro's profit rose 5 percent, beating expectations, as strong U.S. revenue offset international sales hurt by the stronger dollar. The stock gained 4.2 percent, rising $1.07 to $26.45.

Oilfield services company Halliburton Co. said its profit tumbled 48 percent amid sluggish exploration and production activity, but the results were better than analyst forecasts and its shares rose 95 cents, or 4.4 percent, to $22.33.

With the bulk of earnings reports still to come, the market has yet to hear from some key industries including retailing. If those results are disappointing, it could force investors to rethink their most recent rally. Several factors are still hanging over the market including record-high unemployment and a damaged housing market.

On Monday, though, the CIT news and optimism over better earnings reports stoked investors' appetite for risk. Investors moved out of safe-haven assets like U.S. Treasurys and the dollar, and into riskier bets like commodities. CIT jumped 55 cents, or 79 percent, to $1.25.

But some analysts said the market could have a hard time advancing, even with more welcome developments.

"The market itself has hit kind of a top here temporarily. People are already getting used to the earnings," said Matt Lloyd, chief investment strategist at Advisors Asset Management.

Oil prices rose 42 cents to settle at $63.98 a barrel. Gold rose, while the dollar was mixed.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.60 percent from 3.66 percent late Friday.

Advancing stocks outnumbered those that fell by more than 3-to-1 on the New York Stock Exchange, where consolidated volume came to 4.9 billion shares compared with 5 billion traded Friday.

The Russell 2000 index of smaller companies rose 7.74, or 1.5 percent, to 526.96.

Overseas, Britain's FTSE 100 rose 1.3 percent, Germany's DAX index rose 1 percent, and France's CAC-40 gained 1.6 percent. Japanese financial markets were closed for a holiday.

 

[bigdog]

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

The stock market managed to extend its weeklong rally even as it struggled with more worries about the banking industry.

Major market indexes seesawed through much of Tuesday's trading and ended with gains of less than 1 percent. Better-than-expected results from companies including Caterpillar Inc. spurred shares generally higher, although financial shares slid on reports of losses at several regional banks.

Investors also digested a mixed report from Federal Reserve Chairman Ben Bernanke, who restated the Fed's view that the economy is still on track to recover this year, but slowly. He also predicted rising unemployment.

The NYSE DOW closed HIGHER +67.79 points +0.77% on Tuesday July 21
Sym Last........ ........Change..........
Dow 8,915.94 +67.79 +0.77%
Nasdaq 1,916.20 +6.91 +0.36%
S&P 500 954.58 +3.45 +0.36%
30-yr Bond 4.3730% -0.0930

NYSE Volume 5,909,568,500 (prior day 5,633,708,000)
Nasdaq Volume 2,279,426,750 (prior day 2,076,208,880)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,481.17 +37.55 +0.85%
DAX 5,093.97 +63.82 +1.27%
CAC 40 3,302.89 +31.95 +0.98%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,652.02 +256.70 +2.73%
Hang Seng 19,501.73 -0.64 0.00%
Straits Times 2,454.33 -1.82 -0.07%

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

Stocks extend weeklong rally as Cat lifts forecast

Stocks post modest gains after weeklong surge; Bernanke says economy is slowly improving
By Sara Lepro and Tim Paradis, AP Business Writers
On Tuesday July 21, 2009, 6:00 pm EDT

NEW YORK (AP) -- The stock market managed to extend its weeklong rally even as it struggled with more worries about the banking industry.

Major market indexes seesawed through much of Tuesday's trading and ended with gains of less than 1 percent. Better-than-expected results from companies including Caterpillar Inc. spurred shares generally higher, although financial shares slid on reports of losses at several regional banks.

Investors also digested a mixed report from Federal Reserve Chairman Ben Bernanke, who restated the Fed's view that the economy is still on track to recover this year, but slowly. He also predicted rising unemployment.

Analysts said the market's more subdued tone was natural after stocks surged more than 8 percent since the start of last week.

Caterpillar joined other major companies in issuing an improved 2009 profit forecast. Second-quarter profits fell 66 percent but still came in ahead of expectations. Shares in the heavy equipment maker, considered a bellwether of the global economy, rose 7.7 percent.

Banks stumbled after Regions Financial Corp., Comerica Inc. and Zions Bancorp posted second-quarter losses that stirred worries about rising loan defaults, a persistent concern for banks as unemployment approaches 10 percent.

Technology shares could drive trading on Wednesday. Chipmaker Advanced Micro Devices Inc. slid in after-hours trading after posting a wider-than-expected loss after the bell, while Apple Inc. rose after reporting a 15 percent jump in profits.

Tech stocks have led the market's rally from 12-year lows in early March. The Nasdaq composite index is up 21.5 percent for the year, compared with 5.7 percent for the Standard & Poor's 500 index and 1.6 percent for the Dow Jones industrial average.

David Chalupnik, head of equities at First American Funds, said it could be harder for stocks to push higher because investors are becoming harder to impress. "Expectations are being ramped up," he said. "As earnings continue to come out better than expected you may not get that lift anymore."

The Dow rose 67.79, or 0.8 percent, to 8,915.94, its highest level since January. Seven straight advances have pushed the blue chips up 9.4 percent. The Dow on Monday erased its loss for the year with a 104-point gain Monday.

The S&P 500 index rose 3.45, or 0.4 percent, to 954.58, its highest close since November. The Nasdaq rose 6.91, or 0.4 percent, to 1,916.20, its 10th straight gain.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume came to 1.2 billion shares compared with 1.1 billion Monday.

Mike Binger, portfolio manager at Thrivent Investment Management, said stocks have been rising because company forecasts are signaling that the worst for the economy could be over.

"The sequential declines in revenue have stopped, which a lot of the companies are calling stabilization," he said.

Treasury investors saw Bernanke's remarks as reaffirming that the Fed would keep interest rates low for the time being -- which supports the value of bonds already in circulation. His assurance that inflation would remain at bay also helped lift the bond market.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.48 percent from 3.60 percent late Monday.

In Tuesday's trading, Caterpillar rose $2.81 to $39.46 and was the biggest gainer among the 30 stocks that make up the Dow. Drugmaker Merck & Co. also beat expectations, helping to send health care stocks broadly higher. Merck's own shares jumped $1.71 or 6.1 percent to $29.65.

Among financial companies, Regions Financial fell 62 cents, or 15.4 percent, to $3.42, Comerica slid $2.31, or 10.1 percent, to $20.51 and Zions fell $1.54, or 12.6 percent, to $10.68. Investors are worried that rising losses on loans will erode profits in the coming quarters.

Unease about small-business lender CIT Group Inc. flared up again after the company said a $3 billion loan from bondholders still might not be enough to cover a cash drain. The stock market had risen broadly on Monday on hopes the company would be able to avoid bankruptcy.

Banks are suffering more losses on loans because unemployment remains at a 26-year high of 9.5 percent and is expected to rise. And home prices in many markets are still falling, leaving homeowners and banks holding assets that are losing value.

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

Oil prices rose 74 cents to settle at $64.72 a barrel on the New York Mercantile Exchange.

In other trading, the Russell 2000 index of smaller companies fell 1.74, or 0.3 percent, to 525.22.

Overseas, Britain's FTSE 100 gained 0.9 percent, Germany's DAX index rose 1.3 percent, and France's CAC-40 rose 1 percent. Japan's Nikkei stock average jumped 2.7 percent.

 

[bigdog]

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

It was a late night last night watching the Tour de France until 1:35 AM!!

Investors aren't giving up on the stock market's rally, but they're not making big bets either.

Stocks ended a quiet day mixed Wednesday as traders were hesitant to commit more money to the market after a weeklong surge. The Dow Jones industrial average and the Standard & Poor's 500 index slipped, while the Nasdaq composite index rose.

A mix of earnings reports drove trading. Apple Inc. and Starbucks Inc. jumped on their results, but chip maker Advanced Micro Devices Inc. and big bank Wells Fargo & Co. slid.

The NYSE DOW closed LOWER -34.68 points -0.39% on Wednesday July 22
Sym Last........ ........Change..........
Dow 8,881.26 -34.68 -0.39%
Nasdaq 1,926.38 +10.18 +0.53%
S&P 500 954.07 -0.51 -0.05%
30-yr Bond 4.4680% +0.0950

NYSE Volume 5,424,887,000 (prior day 5,909,568,500)
Nasdaq Volume 2,382,058,500 (prior day 2,279,426,750)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,493.73 +12.56 +0.28%
DAX 5,121.56 +27.59 +0.54%
CAC 40 3,305.07 +2.18 +0.07%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,723.16 +71.14 +0.74%
Hang Seng 19,248.17 -253.56 -1.30%
Straits Times 2,450.83 -3.50 -0.14%

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

Mixed earnings put brakes on stock market rally

Stocks end mixed after weeklong rally; Apple jumps but Advanced Micro, Wells Fargo disappoint
By Tim Paradis, AP Business Writer
On Wednesday July 22, 2009, 6:02 pm EDT

NEW YORK (AP) -- Investors aren't giving up on the stock market's rally, but they're not making big bets either.

Stocks ended a quiet day mixed Wednesday as traders were hesitant to commit more money to the market after a weeklong surge. The Dow Jones industrial average and the Standard & Poor's 500 index slipped, while the Nasdaq composite index rose.

A mix of earnings reports drove trading. Apple Inc. and Starbucks Inc. jumped on their results, but chip maker Advanced Micro Devices Inc. and big bank Wells Fargo & Co. slid.

The market's incremental moves weren't surprising after strong earnings reports for the April-June quarter lifted major stock indicators up more than 8 percent in just seven days. The gains reignited a rally that ran from early March through mid-June before stalling as signs of improvement in the economy started to dry up.

Analysts say it's not surprising to see the market slow its climb as investors raise their expectations.

"As the earnings season goes on, it becomes more difficult because the bar goes higher and higher," said John Canally, economist at LPL Financial in Boston.

The Dow fell 34.68, or 0.4 percent, to 8,881.26. The broader S&P 500 index slipped 0.51, or 0.1 percent, to 954.07, and the Nasdaq rose 10.18, or 0.5 percent, to 1,926.38, helped by Apple and Starbucks. It was the 11th straight gain for the Nasdaq.

Major market indexes seesawed Wednesday as they had a day earlier. Stocks pushed higher Tuesday after Federal Reserve Chairman Ben Bernanke said the economy was recovering, though at a slow pace.

Earnings reports directed trading Wednesday. Apple rose $5.23, or 3.5 percent, to $156.74 after robust sales of laptops and iPhones pushed its profit and revenue above what analysts had expected.

Starbucks surged $2.70, or 18.4 percent, to $17.39 after the coffee chain shut stores, laid off workers and cut other costs to produce fiscal third-quarter results that topped expectations.

Advanced Micro Devices fell 53 cents, or 13 percent, to $3.55 after its second-quarter loss narrowed less than analysts expected.

Wells Fargo joined other banks in reporting that losses from bad loans kept rising although its second-quarter earnings rose 47 percent. The stock fell 90 cents, or 3.6 percent, to $24.45.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.55 percent from 3.48 percent late Tuesday.

The dollar was mixed, while gold prices rose.

Light, sweet crude fell 21 cents to settle at $65.40 a barrel on the New York Mercantile Exchange.

Advancing stocks outpaced those that fell by 4-to-3 on the New York Stock Exchange, where consolidated volume came to 4.7 billion shares compared with 5.2 billion Tuesday.

The Russell 2000 index of smaller companies rose 3.48, or 0.7 percent, to 528.70.

Overseas, Britain's FTSE 100 rose 0.3 percent, Germany's DAX index gained 0.5 percent, and France's CAC-40 added 0.1 percent. Japan's Nikkei stock average rose 0.7 percent.

 

[bigdog]

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=1&asset=&ccode=

Stock futures push higher ahead of economic data

US stock futures point to higher open ahead of data on labor, housing markets, more earnings
By Sara Lepro, AP Business Writer
On Thursday July 23, 2009, 6:48 am EDT

NEW YORK (AP) -- U.S. stock futures are pushing higher ahead of data on the labor and housing markets, as well as more earnings reports.

The slight pop in futures Thursday comes after gains in Asia and amid relatively flat markets in Europe.

Investors will be looking to the Labor Department's weekly report on jobless claims for more clues on the economy. Investors will also get a report on existing home sales.

Earnings from AT&T, United Parcel Service and McDonald's are expected.

Ahead of the market's open, Dow Jones industrial average futures are up 21 to 8,854. Standard & Poor's 500 index futures are up 3 to 952, while Nasdaq 100 index futures are up 5 to 1,562.

 

[MrBurns]

Wait til thsi kicks in - From Crikey -

The next big problem for US banks
by Glenn Dyer
Judging by their latest results, the next big problem for major US banks appears to be their interests in the commercial property sector: all $US6.7 trillion of it. This is while their problems with home mortgages, foreclosures and bad corporate loans show no sign of improving.

Some of America’s major banks, including Morgan Stanley, Well Fargo, Key Corp, Bank of New York Mellon, Regions Bank and US Bancorp have sent unwanted messages to American investors, markets and regulators that the commercial property sector is tanking quickly.

Money centre giants Morgan Stanley (which lost $US159 million in the second quarter overall) and Well Fargo (a $US3.17 billion profit) confirmed the mounting pressures on the US commercial property market when they reported large losses and surging bad loans in their second quarter reports.

US banks have already lost tens of billions of dollars in home mortgages and corporate loans (and been brought to their knees and saved by the US Government). Now poor quarterly figures for two of the largest lenders and investors in office, retail and industrial property across the US suggest that commercial real estate will be the next front in the financial crisis after the collapse of the housing market. And results from other banks support the notion of a commercial property implosion.

Shopping centres, office blocks and commercial industrial property are selling for huge discounts. General Growth, American’s second largest shopping centre operator is in bankruptcy and the John Hancock Building in Boston was earlier this year sold in a bankruptcy auction for $US660 million, half its purchase price three years ago.

Late last week, in a move little noticed by the markets, Macquarie CountryWide trust sold 75%% of its US holding of 86 retail properties for $US1.3 billion, or around 24% less than it had paid for them in 2005. Its exposure to the US has been cut from 70% to around 25% of its assets.

In recent events:

•Morgan Stanley reported a $US700 million cut on its $US17 billion commercial property portfolio in the second quarter.
•Well Fargo saw its non-performing loans in commercial real estate soar 69%, from $US4.5 bullion to $US7.6 billion in the second quarter.
•Regions Bank, a big regional institution based in the Alabama, saw a $US1.7 billion jump in new problem loans and a $US977 million, or 60% jump in non-performing loans in the second quarter.
•Keycorp reported rising commercial real estate loan losses: it set aside 31% more in provisions for bad loans.
•US Bancorp, based in Minneapolis, said profit fell 76% to $US221 million and its set aside and charge-off for bad loans more than doubled in the quarter.
•SunTrust, based in Atlanta, had a second quarter loss of $US164.4 million, compared with a year-earlier profit of $US530 million and non- performing loans were $US5.5 billion of loans, or a worrying 4.48% of all loans.
Earlier this month the Federal Reserve’s Associate Director of Banking Supervision and Regulation Jon Greenlee said, “…at the end of the first quarter [of 2009], about seven percent of commercial real estate loans on banks’ books were considered delinquent. This was almost double from the level a year earlier.”

Greenlee said there is about $US3.5 trillion of outstanding debt associated with commercial real estate, and banks had about $US1.8 trillion of that in their loan books. That means around $US126 billion of delinquent commercial mortgages on the banks’ books, so far. He said an additional $US900 billion represented collateral for securitised home loans through what’s called Collaterised Mortgage Backed Securities.

“The pace of property sales has slowed dramatically since peaking in 2007, from quarterly sales of roughly $195 billion to about $20 billion in the first quarter of 2009,” he said.

And on Tuesday, the softening commercial property market was a big focus of the questioning of Fed Chairman, Ben Bernanke in his Capitol Hill appearance.

Bernanke warned that a continued deterioration in commercial property, where prices have fallen by about 35% since the market’s peak and defaults have been rising sharply, would present a “difficult” challenge for the economy. He added that one of the main problems was that the market for securities backed by commercial mortgages had “completel shut down”, as it has for home mortgages.

 

[bigdog]

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

Investors celebrated news of another jump in home sales by propelling the Dow Jones industrials to their first close above 9,000 since January.

The stock market's best-known indicator shot up almost 190 points Thursday to 9,069.29, its highest level since November, and all the big indexes gained more than 2 percent.

News that existing home sales rose in June for the third straight month and by a higher-than-expected amount led investors to extend a buying spree that has now lifted the Dow 923 points, or 11 percent, in just nine days. On paper, U.S. stocks have gained $1.2 trillion in value.

The NYSE DOW closed HIGHER +188.03 points +2.12% on Thursday July 23
Sym Last........ ........Change..........
Dow 9,069.29 +188.03 +2.12%
Nasdaq 1,973.60 +47.22 +2.45%
S&P 500 976.29 +22.22 +2.33%
30-yr Bond 4.5990% +0.1310

NYSE Volume 6,862,800,000 (prior day 5,424,887,000)
Nasdaq Volume 3,130,186,500 (prior day 2,382,058,500

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,559.80 +66.07 +1.47%
DAX 5,247.28 +125.72 +2.45%
CAC 40 3,373.72 +68.65 +2.08%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,792.94 +69.78 +0.72%
Hang Seng 19,817.70 +569.53 +2.96%
Straits Times 2,484.90 +34.07

http://finance.yahoo.com/news/Dow-tops-9000-as-home-sales-apf-2690003626.html?x=0

Dow tops 9,000 as home sales rise for 3rd month

Stocks extend rally after jump in home sales; Dow climbs to highest level since November
By Tim Paradis, AP Business Writers
On Thursday July 23, 2009, 6:05 pm EDT

NEW YORK (AP) -- Investors celebrated news of another jump in home sales by propelling the Dow Jones industrials to their first close above 9,000 since January.

The stock market's best-known indicator shot up almost 190 points Thursday to 9,069.29, its highest level since November, and all the big indexes gained more than 2 percent.

News that existing home sales rose in June for the third straight month and by a higher-than-expected amount led investors to extend a buying spree that has now lifted the Dow 923 points, or 11 percent, in just nine days. On paper, U.S. stocks have gained $1.2 trillion in value.

The week's economic news and upbeat earnings reports and forecasts from companies including chip maker Intel Corp. and heavy equipment maker Caterpillar Inc. convinced investors that the bets they've placed since March on a recovering economy were well-founded.

Still, the economy, and in turn, the market, are likely to face more quicksand pits in the months ahead. Many more companies, including retailers, who are a barometer of consumer spending, have yet to announce second-quarter earnings. And many of the corporations that have already released their reports said they made money because they had cut costs so deeply, something that they can't keep doing indefinitely.

There was already some troubling earnings news after trading ended Thursday. Microsoft Corp. missed analysts' expectations for revenue, sending its shares lower in extended trading. American Express Co. and Amazon.com also traded lower after releasing their earnings.

Another ongoing problem is the banking business. Banks are forecasting that they'll continue to suffer losses from loans as consumers keep getting laid off.

But some analysts don't believe investors are caving in to euphoria.

"I don't think the market is signaling that we are fully healed at all but it is telling us that there is a strong likelihood that a recovery is under way," said Ciaran O'Kelly, head of equities, Americas, at Nomura Securities Intl. Inc. in New York.

Analysts also caution that volume remains relatively light, as is typical of the summer months when many traders take vacations. It's easier for the market to make big swings when there are fewer trades.

The Dow rose 188.03, or 2.1 percent, to 9,069.29. It was the highest finish for the blue chips since Nov. 5 and the first time the Dow has traded or closed above 9,000 since January. Even with the gains, the Dow is still far off its peak of 14,165 in October 2007.

The Standard & Poor's 500 index rose 22.22, or 2.3 percent, to 976.29. It hasn't traded or closed above 1,000 since early November.

The Nasdaq composite index rose 47.22, or 2.5 percent, to 1,973.60, its 12th straight advance. The Nasdaq hasn't had a rally that long since a streak that ended Jan. 8, 1992.

About five stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 6 billion shares, compared with 4.7 billion Wednesday.

Bond prices tumbled, pushing their yields higher, as money flowed back into the stock market and out of safe-haven investments. The yield on the benchmark 10-year Treasury note, which is closely tied to home mortgage rates, jumped to 3.67 percent from 3.55 percent late Wednesday.

The Realtors said sales of previously occupied homes rose 3.6 percent in June. Sales came in at 4.89 million, above the 4.84 million analysts expected.

Dealmaking also supported stocks. Investors look to companies' willingness to make acquisitions -- and part with cash or take on debt -- as a sign of confidence.

In health care, Bristol-Myers Squibb Co. plans to acquire Medarex Inc. for about $2.1 billion. Medarex surged $7.49, or 89 percent, to $15.89, while Bristol-Myers rose 57 cents, or 2.8 percent, to $20.86.

Amazon.com Inc. agreed to buy Zappos.com Inc., a privately held online shoe store, in a deal worth about $850 million. Amazon rose $5.08, or 5.7 percent, to $93.87. It tumbled to $87.58 after its earnings were released.

Among the day's earnings news, Ford Motor Co. announced a profit that was a huge improvement over the record $8.7 billion loss it reported a year earlier. Without one-time gains, the car maker would have lost $424 million, or 21 cents per share. That is still smaller than the loss of 50 cents per share analysts had been expecting. Ford rose 60 cents, or 9.4 percent, to $6.98.

Microsoft, which rose 76 cents to $25.56 in regular trading, fell to $23.62 in after-hours activity. American Express traded at $28.05 in extended trading after rising 69 cents to $29.45 during the day.

Some analysts warn that stocks won't be able to hold their gains if companies can't increase earnings by boosting revenue rather than slashing costs.

"It's like going on a diet. You can only starve yourself for so long," said Lawrence Creatura, portfolio manager at Federated Investors in Rochester, N.Y. "You cannot cost cut your way to prosperity."

Creatura noted that companies are reducing costs in large part by getting rid of workers. That could wind up hurting other businesses as the ranks of unemployed people grow. Unemployment is at a 26-year high of 9.5 percent, and the Federal Reserve predicts it will top 10 percent by year-end.

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

Oil prices rose $1.76 to settle at $67.16 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies gained 17.15, or 3.2 percent, to 545.85.

The gains in U.S. stocks pushed markets overseas sharply higher. Britain's FTSE 100 rose 1.5 percent, while Germany's DAX index jumped 2.5 percent and France's CAC-40 rose 2.1 percent. In Japan, where markets closed before U.S. stocks began trading, the Nikkei stock average rose 0.7 percent.

 

[bigdog]

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

The Dow Jones industrial average closed the week up 349.30, or 4 percent, at 9,093.24. The Standard & Poor's 500 index rose 38.88, 4.1 percent, to 979.26. The Nasdaq composite index rose 79.35, or 4.2 percent, to 1,965.96.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,061.55, up 426.73, or 4.4 percent, for the week. A year ago, the index was at 12,770.96.

Optimists are back in control of the stock market, but they are cautious optimists.

Major stock indicators have climbed 11 percent in the past two weeks to their best levels since last fall as a series of upbeat earnings reports and forecasts boosted investors confidence about an economic recovery. Over the past 10 days, the Dow Jones industrial average jumped 947 points and broke through 9,000 for the first time since January.

On Friday, though, investors showed their conservative side, selling tech stocks and making mostly modest purchases of other shares following weak profit reports from Microsoft Corp. and Amazon.com Inc.

The NYSE DOW closed HIGHER +23.95 points +0.26% on Friday July 24
Sym Last........ ........Change..........
Dow 9,093.24 +23.95 +0.26%
Nasdaq 1,965.96 -7.64 -0.39%
S&P 500 979.26 +2.97 +0.30%
30-yr Bond 4.5550% -0.0440

NYSE Volume 4,954,171,000 (prior day 6,862,800,000)
Nasdaq Volume 2,261,059,000 (prior day 3,130,186,500)


Europe
Symbol... Last...... .....Change.......
FTSE 100 4,576.61 +16.81 +0.37%
DAX 5,229.36 -17.92 -0.34%
CAC 40 3,366.45 -7.27 -0.22%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,944.55 +151.61 +1.55%
Hang Seng 19,982.79 +165.09 +0.83%
Straits Times 2,533.43 +48.53 +1.95%

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=3&asset=&ccode=

Stocks edge mostly higher; Microsoft drags Nasdaq

Stocks post modest gains after big jump; Nasdaq lags as Microsoft, Amazon tumble
By Sara Lepro and Tim Paradis, AP Business Writers
On Friday July 24, 2009, 6:27 pm EDT

NEW YORK (AP) -- Optimists are back in control of the stock market, but they are cautious optimists.

Major stock indicators have climbed 11 percent in the past two weeks to their best levels since last fall as a series of upbeat earnings reports and forecasts boosted investors confidence about an economic recovery. Over the past 10 days, the Dow Jones industrial average jumped 947 points and broke through 9,000 for the first time since January.

On Friday, though, investors showed their conservative side, selling tech stocks and making mostly modest purchases of other shares following weak profit reports from Microsoft Corp. and Amazon.com Inc.

Still, the past two weeks have shown that investors believed there was enough justification from companies' reports for Wall Street to resume the rally that began in March but stalled in June. This week, heavy equipment maker Caterpillar Inc., manufacturing conglomerate 3M Co. and Ford Motor Co. turned in better-than-expected results or boosted their forecasts for the rest of the year.

The economy has also helped out. The stock market's biggest jump of the week came Thursday as the Dow gained 188 points on news of the third straight monthly gain in existing home sales in June.

The market's latest climb reflects a mix of forces. While earnings and economic news have fed the rally, some analysts link part of the buying to short-covering, where investors have to buy stock after having earlier sold borrowed shares in a bet that the market would fall. That rush to cover ill-timed bets can hasten the market's climb.

Analysts also say money managers are afraid of missing out on a continued rally.

"There is so much cash still on the sidelines," said David Darst, chief investment strategist at Morgan Stanley Smith Barney. "People missed it and they're beginning to worry that the train isn't going to come back for them."

On Friday, the Dow rose 23.95, or 0.3 percent, to 9,093.24, its highest finish since Nov. 5. The S&P 500 index rose 2.97, or 0.3 percent, to 979.26. It has risen 100 points in the two-week rally and is up 45 percent since it hit a 12-year low on March 9.

The Nasdaq fell 7.64, or 0.4 percent, to 1,965.96, taken down by the selling in tech stocks. The Nasdaq broke a 12-day winning streak, but it's still up 24.7 percent for the year, far outpacing gains in the Dow and S&P.

It's not just professional traders making all the moves. Individual investors also are withdrawing money from some safe corners of the market where the returns are low. In the week ended Tuesday, money market mutual fund investors pulled $3.99 billion from taxable funds, according to according to iMoneyNet Inc. This has been flowing into stock and bond funds.

Analysts say investors know that they still have a number of obstacles to contend with, including earnings reports from retailers that will provide more insight into the financial health of the consumer.

"It's healthy that there is fear and skepticism in the marketplace," said Jeffrey Frankel, president of Stuart Frankel & Co. "The more people are concerned and the more people are careful, the healthier the market will be. What gets us in trouble is when there is no fear."

For the week, the Dow rose 4 percent, the S&P 500 index added 4.1 percent and the Nasdaq rose 4.2 percent. Each of the indexes is up 11 percent in two weeks.

Investors will be bracing for another rush of data next week that could fuel or smother the rally. Quarterly results are due from big companies including Kellogg Co., ExxonMobil Corp. and Walt Disney Co. Economic snapshots include numbers on housing, consumer confidence and the economy's overall output.

Bond prices rose, pushing yields slightly lower. The yield on the benchmark 10-year Treasury note fell to 3.66 percent from 3.67 percent late Thursday.

Microsoft fell $2.11, or 8.3 percent, to $23.45 after company reported revenue that fell short of analysts' forecasts. Amazon.com also reported weaker-than-expected sales. It dropped $7.38, or 7.9 percent, to $86.49.

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

Oil rose 89 cents to settle at $68.05 a barrel.

About two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to a relatively low 4.4 billion shares, compared with 6 billion Thursday. Light volume can skew the market's moves.

The Russell 2000 index of smaller companies rose 2.61, or 0.5 percent, to 548.46.

Overseas, Britain's FTSE 100 rose 0.4 percent, Germany's DAX index fell 0.3 percent, and France's CAC-40 lost 0.2 percent. Japan's Nikkei stock average jumped 1.6 percent.

The Dow Jones industrial average closed the week up 349.30, or 4 percent, at 9,093.24. The Standard & Poor's 500 index rose 38.88, 4.1 percent, to 979.26. The Nasdaq composite index rose 79.35, or 4.2 percent, to 1,965.96.

The Russell 2000 index, which tracks the performance of small company stocks, rose 29.24, or 5.6 percent, for the week to 548.46.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,061.55, up 426.73, or 4.4 percent, for the week. A year ago, the index was at 12,770.96.

586

 

[bigdog]

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

Investors are still building on a stock market rally even when the news isn't all great.

Stocks edged higher Monday after zigzagging in subdued trading on mixed economic and corporate earnings reports.

The Dow Jones industrial average rose only 15 points. But modest moves in the market's indicators belie larger forces at work: Investors aren't dumping stocks, even in the face of downbeat news.


The NYSE DOW closed HIGHER +15.27 points +0.17% on Monday July 27
Sym Last........ ........Change..........
Dow 9,108.51 +15.27 +0.17%
Nasdaq 1,967.89 +1.93 +0.10%
S&P 500 982.18 +2.92 +0.30%
30-yr Bond 4.6130% +0.0580

NYSE Volume 5,268,113,000 (prior day 4,954,171,000)
Nasdaq Volume 2,159,757,500 (prior day 2,261,059,000)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,586.13 +9.52 +0.21%
DAX 5,251.55 +22.19 +0.42%
CAC 40 3,372.36 +5.91 +0.18%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,088.66 +144.11 +1.45%
Hang Seng 20,251.62 +268.83 +1.35%
Straits Times 2,576.66 +43.23 +1.71%

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

Stocks edge higher on mixed signs about economy

Uneven earnings and economic news steer stocks, giving 2-week rally only modest gains
By Tim Paradis, AP Business Writer
On Monday July 27, 2009, 5:44 pm EDT

NEW YORK (AP) -- Investors are still building on a stock market rally even when the news isn't all great.

Stocks edged higher Monday after zigzagging in subdued trading on mixed economic and corporate earnings reports.

The Dow Jones industrial average rose only 15 points. But modest moves in the market's indicators belie larger forces at work: Investors aren't dumping stocks, even in the face of downbeat news.

Disappointing earnings from Verizon Communications Inc., Aetna Inc. and Corning Inc. kept the market's gains in check, adding another pause to a powerful rally that has sent major indexes rocketing 11 percent in just two weeks.

RadioShack Corp. reported higher second-quarter earnings that beat forecasts, but mainly from cost-cutting -- a theme that has become familiar this earnings season and has left many investors disappointed.

Stocks are steady in part because many investors aren't retreating for fear of missing another rally. Even earlier this month, when a spring rally was still stalled, investors likely would have looked to the news out Monday as reason to sell.

On the plus side Monday, a government report showed new home sales posted the fastest increase in June in more than eight years as buyers jumped on reduced prices, low interest rates and a federal tax credit for first-time homeowners. That sent stocks of home builders surging.

Analysts said the market's modest overall moves were a good sign. Brian F. Reynolds, chief market strategist at WJB Capital Group, said investors were surprised by the strength of corporate earnings reports in the past two weeks.

"After a run of any direction stocks take a little break and people kind of catch their breath," Reynolds said. "I think that's especially true now because people were caught off guard. I think so many people were so bearish."

The Dow rose 15.27, or 0.2 percent, to 9,108.51, its first finish above the 9,100 mark since Nov. 5. The blue chips crossed zero 27 times during trading but spent almost the entire day with a loss. The Dow has been up 10 of the past 11 trading days.

The broader Standard & Poor's 500 index rose 2.92, or 0.3 percent, to 982.18, while the Nasdaq composite index rose 1.93, or 0.1 percent, to 1,967.89.

About two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.7 billion shares, compared with 4.4 billion Friday.

Bond prices fell, pushing yields higher, as a busy week of Treasury auctions got underway. The yield on the benchmark 10-year Treasury note rose to 3.73 percent from 3.66 percent late Friday.

In economic news, the Commerce Department said new home sales rose 11 percent in June to 384,000, beating analysts' estimates. The median price of $206,200 was down 12 percent from a year earlier and off nearly 6 percent from May. Last week, stocks got a lift from a better-than-expected rise in sales of existing homes.

Among companies posting results, Verizon's second-quarter earnings fell 21 percent. Cost reductions at the nation's largest wireless carrier failed to keep pace with falling revenue.

Aetna's profit skidded 28 percent on higher medical expenses in its commercial business, and the health insurer cut its profit forecast for the second time in two months. The stock fell 72 cents, or 2.7 percent, to $25.72.

Corning said its second-quarter earnings tumbled from results inflated by a big one-time gain a year ago. The stock fell 50 cents, or 2.9 percent, to $16.50.

RadioShack fell $1.06, or 6.6 percent, to $15 after cost-cutting drove profit growth and sales fell short of analysts' expectations.

Among homebuilders, Lennar Corp. rose 76 cents, or 6.8 percent, to $11.87 and Beazer Homes USA Inc. jumped 36 cents, or 13.9 percent, to $2.95.

Investors have been buying stocks as companies from AT&T Inc. to chip maker Intel Corp. post earnings that are stronger than analysts had predicted. However some analysts remain cautious because expectations have been low.

"Last week was dubbed as a good earnings week, but good compared to what?" asked David Hefty, CEO of Cornerstone Wealth Management in Auburn, Ind. "It doesn't take a lot to get the market excited these days."

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

Crude oil rose 33 cents to settle at $68.38 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 2.42, or 0.4 percent, to 550.88.

Overseas, Britain's FTSE 100 rose 0.2 percent, Germany's DAX index rose 0.4 percent, and France's CAC-40 rose 0.2 percent. Japan's Nikkei stock average rose 1.5 percent

 

[bigdog]

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

An economic reality check is cooling the stock market's rally.

Stocks ended little changed Tuesday as a key barometer of consumer confidence and a handful of disappointing earnings reports reminded investors that an economic recovery this year is far from assured. The Dow slipped 12 points, while the Nasdaq composite index posted a small gain.

Trading was more erratic Tuesday than the past two days, however in all three days the major market indexes closed with only modest changes. Investors remain cautious but still aren't willing to give up on a rally that has propelled stocks up 11 percent in little more than two weeks.

The NYSE DOW closed LOWER +15.27 points +0.17% on Tuesday July 28
Sym Last........ ........Change..........
Dow 9,096.72 -11.79 -0.13%
Nasdaq 1,975.51 +7.62 +0.39%
S&P 500 979.62 -2.56 -0.26%
30-yr Bond 4.5590% -0.0540

NYSE Volume 6,101,261,000 (prior day 5,268,113,000)
Nasdaq Volume 2,235,673,750 (prior day 2,159,757,500)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,528.84 -57.29 -1.25%
DAX 5,174.74 -76.81 -1.46%
CAC 40 3,330.97 -41.39 -1.23%

Asia
Symbol..... Last...... .....Change.......
Nikkei 10,087.26 -1.40 -0.01%
Hang 20,624.54 +372.92 +1.84%
Straits 2,624.04 +47.38 +1.84%


http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=3&asset=&ccode=

Stocks end flat on mixed economic data, earnings

Stocks finish mixed as consumer confidence falls; Uneven earnings reports hold market back
By Tim Paradis, AP Business Writer
On Tuesday July 28, 2009, 5:51 pm EDT

NEW YORK (AP) -- An economic reality check is cooling the stock market's rally.

Stocks ended little changed Tuesday as a key barometer of consumer confidence and a handful of disappointing earnings reports reminded investors that an economic recovery this year is far from assured. The Dow slipped 12 points, while the Nasdaq composite index posted a small gain.

Trading was more erratic Tuesday than the past two days, however in all three days the major market indexes closed with only modest changes. Investors remain cautious but still aren't willing to give up on a rally that has propelled stocks up 11 percent in little more than two weeks.

Stocks started to slip after the Conference Board reported that its consumer confidence index fell more than expected, fanning worries that bleak expectations among consumers and rising unemployment would hamper the economy's ability to rebound from the longest recession since World War II.

Meanwhile, corporate earnings reports, which beat meager expectations earlier this month, suggested that many consumers remain unwilling or unable to spend. Office Depot Inc. and handbag maker Coach Inc. both had trouble drawing in customers during the second quarter.

If consumers don't step up spending, companies will find it hard to chalk up the revenue gains they need to truly recover. The recent string of stronger corporate profits have come from deep cost-cutting, which can only lift earnings for so long.

The third upbeat reading on the housing market since last week and dealmaking in the technology industry helped temper the market's disappointment.

Even without the latest worries about consumers, analysts have been anticipating some pause in buying after this month's surge, which restarted a massive rally that began in March. The advance fizzled in mid-June on lackluster economic reports.

John Merrill, chief investment officer of Tanglewood Wealth Management in Houston, said some institutional investors are pouring money into stocks in an effort to keep pace with a 44.8 percent rally in the S&P 500 index since March 9 and not get left behind.

"That kind of gives a nice give-and-take with nobody motivated to strongly sell and nobody motivated to strongly buy," he said.

The Dow finished down 11.79, or 0.1 percent, to 9,096.72 after being down as much as 101 points. It was the blue chips' first loss after four days of gains and only the fifth down day of the month.

The broader Standard & Poor's 500 index fell 2.56, or 0.3 percent, to 979.62. The Nasdaq composite index rose 7.62, or 0.4 percent, to 1,975.51 after several technology companies announced acquisitions.

Falling stocks narrowly outpaced those that rose on the New York Stock Exchange, where consolidated volume came to 5.6 billion shares, compared with 4.7 billion Monday.

Bond prices were mixed after a Treasury Department auction of two-year notes generated lackluster demand. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.69 percent from 3.73 percent.

Investors are anxious about government debt auctions because weak demand could force Washington to entice buyers with higher interest rates. That could hurt an economic rebound by increasing borrowing costs for consumers.

Adam Gould, senior portfolio manager at Direxion Funds in New York, said the rally remains intact because investors are jumping in when stocks retreat. That helped pull stocks off their afternoon lows.

"There are lot of people that missed this rally," he said. "When it looks like it's not selling off anymore guys start rushing in."

Office Depot said consumers and small businesses continued to pare spending, especially on pricier items like furniture and computers. The office-supply chain tumbled 97 cents, or 18.1 percent, to $4.38.

Coach fell 38 cents to $28.05 after earnings dropped 32 percent.

Not all the news was downbeat. Textron Inc. jumped $1.96, or 17.6 percent, to $13.11 after the maker of Cessna planes and Bell helicopters posted a profit excluding charges. Analysts had expected a loss.

Investors welcomed dealmaking in the tech industry. IBM Corp. agreed to acquire software maker SPSS Inc. for $1.2 billion. SPSS jumped $14.36, or 40.9 percent, to $49.45, while IBM fell 35 cents to $117.28.

The dollar was mixed, and gold prices fell.

Light, sweet crude fell $1.15 to settle at $67.23 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 1.07, or 0.2 percent, to 551.95.

Overseas, Britain's FTSE 100 fell 1.3 percent, Germany's DAX index lost 1.5 percent, and France's CAC-40 slid 1.2 percent. Japan's Nikkei stock average slipped less than 0.1 percent.

 

[bigdog]

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

The stock market is holding up, just not pressing ahead as the economic signs look a little less promising.

Stocks had their fourth straight day of minimal moves Wednesday as commodity prices slid and orders for big-ticket manufactured goods fell, injecting more uncertainty into the market.

Investors are uneasy but aren't giving up on stocks. The Dow Jones industrials lost only 26 points on Wednesday and major indexes are still up about 11 percent since mid-July. Analysts say the market's buoyancy after such a big gain is a welcome sign of stability, but also that more good news is needed for stocks to resume their climb.

The NYSE DOW closed LOWER -26.00 points -0.29% on Wednesday July 29
Sym Last........ ........Change..........
Dow 9,070.72 -26.00 -0.29%
Nasdaq 1,967.76 -7.75 -0.39%
S&P 500 975.15 -4.47 -0.46%
30-yr Bond 4.5030% -0.0560

NYSE Volume 6,003,922,500 (prior day 6,101,261,000)
Nasdaq Volume 2,107,979,000 (prior day 2,235,673,750)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,547.53 +18.69 +0.41%
DAX 5,270.32 +95.58 +1.85%
CAC 40 3,365.62 +34.65 +1.04%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,113.24 -25.98 -0.26%
Hang Seng 20,135.50 +489.04 +2.37%
Straits Times 2,604.06 +19.98 +0.76%

http://finance.yahoo.com/news/Stocks-slip-as-fears-remain-apf-4239161946.html?x=0

Stocks slip as fears remain about pace of recovery

Stocks fall on jitters about pace of recovery in economy; pause in rally extends to fourth day
By Tim Paradis, AP Business Writer
On Wednesday July 29, 2009, 5:57 pm EDT

NEW YORK (AP) -- The stock market is holding up, just not pressing ahead as the economic signs look a little less promising.

Stocks had their fourth straight day of minimal moves Wednesday as commodity prices slid and orders for big-ticket manufactured goods fell, injecting more uncertainty into the market.

Investors are uneasy but aren't giving up on stocks. The Dow Jones industrials lost only 26 points on Wednesday and major indexes are still up about 11 percent since mid-July. Analysts say the market's buoyancy after such a big gain is a welcome sign of stability, but also that more good news is needed for stocks to resume their climb.

For now, though, investors are finding more reasons for concern. The price of oil and other commodities fell for a third day after stocks tumbled in China on fears that growth in that country would slow. That could hurt demand for a range of commodities.

The Commerce Department said orders to U.S. factories for manufactured goods -- those expected to last at least three years -- fell an unexpectedly steep 2.5 percent in June. The slide reflected troubles in the auto industry and a drop in demand for commercial aircraft. It was the largest drop in five months, and was worse than the 0.6 percent analysts expected.

Lackluster demand at a government debt auction for the second straight day fanned worries that rising interest rates could hobble a recovery. That boded poorly for a big auction of 7-year Treasury notes on Thursday.

Traders are facing an intense seven-day run of economic reports that will help shape views about how quickly the United States can pull out of the longest recession since World War II. On Thursday, weekly unemployment figures are due and a reading of gross domestic product for the April-June quarter comes on Friday. Next week, reports are expected on manufacturing, housing, employment and the service industry.

Manny Weintraub, president of Integre Advisors in New York, said some good numbers could bring out more buyers because investors are betting on what the economy will look like in the coming months, not what it looks like now.

"As long as things are getting better the market can go up," Weintraub said.

The Dow fell 26.00, or 0.3 percent, to 9,070.72. The Dow also fell Tuesday after a weak reading on consumer confidence. The two-day drop was the first for the Dow in more than a month. The average is on pace to record its best July in 20 years.

The broader Standard & Poor's 500 index fell 4.47, or 0.5 percent, to 975.15, while the Nasdaq composite index slid 7.75, or 0.4 percent, to 1,967.76.

Energy and materials stocks fell after China's benchmark Shanghai Composite Index dropped 5 percent on worries that authorities might try to keep the country's economy from growing too quickly. A slowdown in China's economy would erode demand for a range of resources.

Investors were also unnerved after U.S. crude inventories rose more than expected last week. The rise prompted worries that weakness in the economy was curbing demand for energy.

Occidental Petroleum Corp. fell $2.21, or 3.1 percent, to $69.48, while Schlumberger Ltd. fell $2.11, or 3.9 percent, to $52.49.

Light, sweet crude slid $3.88 to settle at $63.35 a barrel on the New York Mercantile Exchange.

Bond prices were mixed after a disappointing auction of five-year notes. That raised fears that Washington will have to offer investors higher returns on debt, which can drive up borrowing costs on consumer loans like mortgages. The yield on the benchmark 10-year Treasury, which moves opposite its price, fell to 3.67 percent from 3.69 percent late Tuesday.

Investors took some comfort from a Federal Reserve report that found the economy is seeing early signs of stabilizing in some parts of the country. That comes as traders have been cautious following the surge in stocks that began July 13 when corporate earnings reports started coming in stronger than expected.

In corporate news, Microsoft Corp. and Yahoo Inc. announced a 10-year deal that gives Microsoft access to the Internet's second-largest search engine audience. Microsoft rose 33 cents to $23.80, while Yahoo fell $2.08, or 12.1 percent, to $15.14.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 5.4 billion shares compared with 5.6 billion Tuesday.

The Russell 2000 index of smaller companies fell 3.57, or 0.7 percent, to 548.38.

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

Overseas, Britain's FTSE 100 rose 0.4 percent, Germany's DAX index rose 1.9 percent, and France's CAC-40 advanced 1 percent. Japan's Nikkei stock average rose 0.3 percent.

 

[bigdog]

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

Stocks rose on Thursday as solid corporate profit reports and a drop in the number of Americans on jobless benefits gave investors reasons to buy equities following the S&P 500's two days of losses.

The market's rally pushed the benchmark S&P 500 index earlier in the session to its highest intraday level in almost nine months, putting it less than 4 points away from the psychologically important 1,000 level. The Nasdaq briefly rose above 2,000 for the first time since October.

But shares lost ground at the close and finished off the day's highs.

DOW UP 8 PERCENT IN JULY

With just one day left in the month, the Dow is on track for its best monthly percentage gain since October 2002, while the S&P 500 and the Nasdaq probably will mark their fifth straight month of gains.

The NYSE DOW closed HIGHER +83.74 points +0.92% on Thursday July 30
Sym Last........ ........Change..........
Dow 9,154.46 +83.74 +0.92%
Nasdaq 1,984.30 +16.54 +0.84%
S&P 500 986.75 +11.60 +1.19%
30-yr Bond 4.4500% -0.0530

NYSE Volume 6,816,596,000 (prior day 6,003,922,500)
Nasdaq Volume 2,571,767,500 (prior day 2,107,979,000)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,631.61 +84.08 +1.85%
DAX 5,360.66 +90.34 +1.71%
CAC 40 3,435.49 +69.87 +2.08%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,165.21 +51.97 +0.51%
Hang Seng 20,234.08 +98.58 +0.49%
Straits Times 2,636.19 +32.13 +1.23%

http://finance.yahoo.com/news/Wall-St-climbs-on-earnings-rb-2304877523.html?x=0&.v=15

Wall St. climbs on earnings, but Disney off late
On Thursday July 30, 2009, 5:51 pm EDT
By Rodrigo Campos

NEW YORK (Reuters) - Stocks rose on Thursday as solid corporate profit reports and a drop in the number of Americans on jobless benefits gave investors reasons to buy equities following the S&P 500's two days of losses.

The market's rally pushed the benchmark S&P 500 index earlier in the session to its highest intraday level in almost nine months, putting it less than 4 points away from the psychologically important 1,000 level. The Nasdaq briefly rose above 2,000 for the first time since October.

But shares lost ground at the close and finished off the day's highs.

The stock market's advance was underpinned by strong demand for the Treasury Department's auction of a record $28 billion of 7-year notes. Strong bids on U.S. debt diminish the chance of a rise in borrowing costs.

The gains were broad-based, but a surge in commodity prices gave an extra boost to raw materials shares. The Reuters/Jefferies CRB index (^CRB - News), a gauge of 19 commodities' prices, rose 3.9 percent, its biggest daily percentage gain since mid-March. The S&P materials index (^GSPM - News) jumped 3 percent.

Companies reporting better-than-expected results on Thursday included MasterCard Inc (NYSE:MA - News), up 3 percent at $194.11, and industrial conglomerate Tyco International Ltd (NYSE:TYC - News), up 2.9 percent at $29.64.

Shares of Motorola Inc (NYSE:MOT - News) shot up 9.4 percent to $7.19 as the world's No. 3 cellphone maker behind Nokia and Samsung cut costs and shipped more phones than expected, and beat analysts' expectations.

"We are now in a market where the momentum is so strong that people typically say (it) is overbought," said Steve Goldman, market strategist at Weeden & Co in Greenwich, Connecticut.

"In actuality, it's the type of strength that leads to further gains, and pullbacks tend to be shallow."

The Dow Jones industrial average (DJI:^DJI - News) added 83.74 points, or 0.92 percent, to close at 9,154.46. The Standard & Poor's 500 Index (^SPX - News) rose 11.60 points, or 1.19 percent, to 986.75. The Nasdaq Composite Index (Nasdaq:^IXIC - News) gained 16.54 points, or 0.84 percent, to 1,984.30.

The S&P 500 is up 45.9 percent from the 12-year closing low of March 9, but it's still down 37.4 percent from its record high close in October 2007.

DOW UP 8 PERCENT IN JULY

With just one day left in the month, the Dow is on track for its best monthly percentage gain since October 2002, while the S&P 500 and the Nasdaq probably will mark their fifth straight month of gains.

At Thursday's close, the Dow was up 8.38 percent for the month of July so far, while the S&P 500 was up 7.34 percent and the Nasdaq was up 8.13 percent.

On the economic front, U.S. government data showed initial claims for state unemployment insurance benefits rose slightly above market expectations in the week ended July 25.

However, the four-week moving average for new claims, considered a better gauge of underlying trends as it smoothes out volatility, fell to its lowest level since January.

Shares of Dow component Walt Disney Co (NYSEIS - News) fell 2.75 percent to $25.50 in extended trade after the company posted a drop in profit in line with Wall Street's expectations, but revenue missed forecasts. (ID:nN30376974) Disney's stock had gained 1.3 percent during the regular session to close at $26.22 on the New York Stock Exchange.

DryShips Inc (NasdaqGSRYS - News) reported better-than-expected quarterly earnings, helped by a recent rise in spot charter rates and an increased contribution from its offshore drilling segment, sending its shares up 5.7 percent to $7.10 after the bell. In regular trading, the stock gained 2.9 percent to end at $6.72 on Nasdaq.

GE JUMPS, GOOGLE GAINS

Goldman Sachs upgraded General Electric (NYSE:GE - News) to "buy" because they believe it is less likely that GE will have to spin off its finance arm, GE Capital.

GE's stock shot up 6.9 percent to $13.11 on the New York Stock Exchange.

Among the Nasdaq's bellwethers, UBS initiated coverage of Internet companies Google Inc (NasdaqGS:GOOG - News) and Amazon.com Inc (NasdaqGS:AMZN - News) with "buy" ratings; shares of both companies rose slightly over 2 percent.

So far, 75 percent of the S&P 500 companies that have reported quarterly results have beaten expectations, according to Thomson Reuters data.

Volume was nearly average on the New York Stock Exchange, where about 1.36 billion shares changed hands, not far below last year's estimated daily average of 1.49 billion. But on the Nasdaq, about 2.56 billion shares traded, exceeding last year's daily average of 2.28 billion.

Advancers outnumbered decliners on the NYSE by a ratio of about 4 to 1, while on the Nasdaq, about nine stocks rose for every four that fell.

 

[bigdog]

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

The Dow Jones industrial average closed the week up 78.37, or 0.9 percent, at 9,171.61. The Standard & Poor's 500 index rose 8.22, 0.8 percent, to 987.48. The Nasdaq composite index rose 12.54, or 0.6 percent, to 1,978.50.

The Russell 2000 index, which tracks the performance of small company stocks, rose 8.25, or 1.5 percent, for the week to 556.71.

New hope for the economy just gave the stock market its best July in 20 years.

Investors placed big bets over the last month that the profit machine at U.S. companies will continue to rev higher and that the longest recession since World War II is finally easing its grip. If that turns out to be wrong, the huge gains of July mean there will be an even bigger price to pay if companies don't deliver.

The Dow surged 725 points or 8.6 percent for the month, with most of the gains arriving in bursts in the final 15 days. The extraordinary run shaped July into the best month for the blue chips since October 2002 and the best July since 1989. The Dow has risen four of the past five months.

The NYSE DOW closed HIGHER +17.15 points +0.19% on Friday July 31
Sym Last........ ........Change..........
Dow 9,171.61 +17.15 +0.19%
Nasdaq 1,978.50 -5.80 -0.29%
S&P 500 987.48 +0.73 +0.07%
30-yr Bond 4.31% -0.14

NYSE Volume 6,220,784,500 (prior day 6,816,596,000)
Nasdaq Volume 2,297,522,000 (prior day 2,571,767,500)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,608.36 -23.25 -0.50%
DAX 5,332.14 -28.52 -0.53%
CAC 40 3,426.27 -9.22 -0.27%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,356.83 +191.62 +1.89%
Hang Seng 20,573.33 +339.25 +1.68%
Straits Times 2,659.20 +23.01 +0.87%

http://finance.yahoo.com/news/Profi...tml?x=0&sec=topStories&pos=main&asset=&ccode=

Profit reports push Dow to best July in 20 years

Stocks cap an enormous July run with a mixed finish as economy shrinks at a slower pace
By Tim Paradis, AP Business Writer
On Friday July 31, 2009, 9:42 pm EDT

NEW YORK (AP) -- New hope for the economy just gave the stock market its best July in 20 years.

Investors placed big bets over the last month that the profit machine at U.S. companies will continue to rev higher and that the longest recession since World War II is finally easing its grip. If that turns out to be wrong, the huge gains of July mean there will be an even bigger price to pay if companies don't deliver.

The Dow surged 725 points or 8.6 percent for the month, with most of the gains arriving in bursts in the final 15 days. The extraordinary run shaped July into the best month for the blue chips since October 2002 and the best July since 1989. The Dow has risen four of the past five months.

The broader Standard & Poor's 500 index, a benchmark for many mutual funds, also ran at a strong pace and July was its best performance since 1997. Even with the gains, the S&P is still down 37 percent from its peak in October 2007.

The companies that fared best in July were those that signaled they were patching up their businesses after a terrible winter and fall. Caterpillar Inc.'s earnings for the April-June quarter fell but the company raised its profit forecast for the year. Its stock surged 33.4 percent for the month.

Earnings reports that fueled the rally often contained a few dark spots, and many companies have been increasing their bottom line by taking a knife to costs. Eventually they will have to bring in more revenue because trimming costs can't increase profits forever.

Stu Schweitzer, global markets strategist at J.P. Morgan's Private Bank in New York, said the lower expenses means companies will be better positioned to reap big earnings when the economy does grow and revenue starts to tick higher.

Economic reports are starting to support traders' bets. The government reported Friday that the economy shrank at a pace of just 1 percent in the second quarter, better than analysts anticipated. In the first three months of the year, the economy shrank at a pace of 6.4 percent, the steepest slide in nearly 30 years.

Despite the improving outlook, the economy still faces significant hurdles. Analysts worry that difficulty for consumers in borrowing, unemployment and a still-weak housing market will choke off growth. Key reports next week on manufacturing, housing, employment and the service industry could also reshape the market's view about where the economy is headed.

"I don't think this is a one-way staircase back up to where we came from. I fully expect potholes along the way," Schweitzer said.

On Friday, the Dow rose a modest 17.15, or 0.2 percent, to 9,171.61. The S&P 500 index rose 0.73, or 0.1 percent, to 987.48, while the Nasdaq composite slipped 5.80, or 0.3 percent, to 1,978.50.

For now, companies aren't hemorrhaging money like they were last fall and early this year. Traders began the latest rally July 13 when they rushed to buy stocks ahead of a strong profit report from Goldman Sachs Group Inc. The bank's profit turned out to be huge, and strong report cards since then from companies like AT&T Inc. and microchip producer Intel Corp. confirmed that a range of companies were finding their footing.

Three of four companies in the S&P 500 index have reported results that topped analysts' expectations, according to Thomson Reuters. About 300 of the 500 companies have turned in their reports.

That unexpected bounty has pushed major market indexes to their best levels of the year. On July 23, the Dow rose above 9,000 for the first time since January. The rally pushed the Dow back into the black for the year and it is now up 4.5 percent.

The Nasdaq traded above 2,000 and the S&P 500 index neared the 1,000 mark, a level not seen since November.

"We're on the edge between recovery and speculation," said Rick Lake, portfolio manager of Aston/Lake Partners LASSO Alternatives Fund in Greenwich, Conn.

Lake said the market's ability to bounce higher in July even after getting bad news signals that many investors are looking to jump on the rally.

Major stock indexes surged off 12-year lows in early March to rally almost 40 percent by mid-June before stumbling until July's earnings reports restored hopes for a rebound in the economy.

Investors have been putting money into areas that are expected to do well in a recovery. Materials companies in the S&P 500 index rose an average 12 percent for the month. Aluminum maker Alcoa Inc. jumped 13.8 percent.

By comparison, energy company stocks rose only 3.6 percent. Oil posted its first monthly drop since January as stockpiles remain high. Exxon Mobil Corp. edged up only 0.7 percent.

Analysts credit some of the buying to short-covering, in which investors have to buy stock after having earlier sold borrowed shares in a bet they would fall. That can make doubts into short-term buyers and give an artificial lift to stocks.

Investors still have plenty to worry about. The GDP report found that consumers cut spending by 1.2 percent in the second quarter, after a 0.6 percent increase in the first quarter.

The unemployment rate stands at a 26-year high of 9.5 percent, and the Federal Reserve predicts it will top 10 percent by the end of the year.

Unemployment often recovers after the economy starts to but hesitant consumers could make it harder for the economy to grow. In downturns over the past 60 years, the S&P 500 index has hit bottom an average of four months before a recession ended and about nine months before unemployment hit its peak.

In other trading Friday, bond prices rose. The yield on the benchmark 10-year Treasury note fell to 3.48 percent from 3.61 percent late Thursday.

Crude rose $2.51 to settle at $69.45 a barrel.

Three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 5.5 billion shares compared with 6.1 billion Thursday.

The Russell 2000 index slipped 1.09, or 0.2 percent, to 556.71.

The Dow Jones industrial average closed the week up 78.37, or 0.9 percent, at 9,171.61. The Standard & Poor's 500 index rose 8.22, 0.8 percent, to 987.48. The Nasdaq composite index rose 12.54, or 0.6 percent, to 1,978.50.

The Russell 2000 index, which tracks the performance of small company stocks, rose 8.25, or 1.5 percent, for the week to 556.71.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,147.02, up 85.47, or 0.9 percent, for the week. A year ago, the index was at 12,946.89.

998

 

[bigdog]

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

The Standard & Poor's 500 index is four digits again now that the stock market's rally has blown into August.

The widely followed stock market measure broke above 1,000 on Monday for the first time in nine months as reports on manufacturing, construction and banking sent investors more signals that the economy is gathering strength. The S&P is used as a benchmark by professional investors, and it's also the foundation for mutual funds in many individual 401(k) accounts.

Wall Street's big indexes all rose more than 1 percent, including the Dow Jones industrial average, which climbed 115 points.

The NYSE DOW closed HIGHER +114.95 points +1.25% on Monday August 3
Sym Last........ ........Change..........
Dow 9,286.56 +114.95 +1.25%
Nasdaq 2,008.61 +30.11 +1.52%
S&P 500 1,002.63 +15.15 +1.53%
30-yr Bond 4.4220% +0.1110

NYSE Volume 6,270,111,500 (prior day 6,220,784,500)
Nasdaq Volume 2,198,343,000 (prior day 2,297,522,000)


NYSE Volume 6,220,784,500 (prior day 6,816,596,000)
Nasdaq Volume 2,297,522,000 (prior day 2,571,767,500)

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,682.46 +74.10 +1.61%
DAX 5,426.85 +94.71 +1.78%
CAC 40 3,477.80 +51.53 +1.50%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,352.47 -4.36 -0.04%
Hang Seng 20,807.26 +233.93 +1.14%
Straits Times 2,681.64 +22.44 +0.84%

http://finance.yahoo.com/news/US-fu...&ccode=&sec=topStories&pos=main&asset=&ccode=

Sign of stock market healing: S&P 500 above 1,000

In sign of strength, S&P 500 breaks past 1,000 as Wall Street rally blows into August
By Sara Lepro and Tim Paradis, AP Business Writers
On Monday August 3, 2009, 6:02 pm EDT

NEW YORK (AP) -- The Standard & Poor's 500 index is four digits again now that the stock market's rally has blown into August.

The widely followed stock market measure broke above 1,000 on Monday for the first time in nine months as reports on manufacturing, construction and banking sent investors more signals that the economy is gathering strength. The S&P is used as a benchmark by professional investors, and it's also the foundation for mutual funds in many individual 401(k) accounts.

Wall Street's big indexes all rose more than 1 percent, including the Dow Jones industrial average, which climbed 115 points.

The market extended its summer rally on the type of news that might have seemed unthinkable when stocks cratered to 12-year lows in early March. A trade group predicted U.S. manufacturing activity will grow next month, the government said construction spending rose in June and Ford Motor Co. said its sales rose last month for the first time in nearly two years.

"The market is beginning to smell economic recovery," said Howard Ward, portfolio manager of GAMCO Growth Fund. "It may be too early to declare victory, but we are well on our way."

The day's reports were the latest indications that the recession that began in December 2007 could be retreating. Better corporate earnings reports and economic data propelled the Dow Jones industrial average 725 points in July to its best month in nearly seven years and restarted spring rally that had stalled in June.

On Monday, a report from the Institute for Supply Management, a trade group of purchasing executives, signaled U.S. manufacturing activity should increase next month for the first time since January 2008 as industrial companies restock shelves. Also, the Commerce Department said construction spending rose rather than fell in June as analysts had expected. The reports and rising commodity prices lifted energy and material stocks.

Ford said sales of light vehicles rose 1.6 percent in July. Other major automakers said they saw signs of stability in sales. Investors predicted that the government's popular cash for clunkers program would boost overall auto sales to their highest level of the year.

Reports from European banks eased concerns about the effect that the credit crisis and recession have had on the global banking system.

Despite the promising economic signs, major indexes are still down 35 percent from their peak in October 2007. But investors' confidence -- or, for some, fear of missing a rally that has pulled stocks up 14 percent in only 16 days -- is keeping buyers in the market.

"It would take a lot to derail the emerging optimism," said Lawrence Creatura, portfolio manager at Federated Clover Investment Advisors.

Major stock indicators pushed to fresh highs for the year. The Dow rose for the third day, advancing 114.95, or 1.3 percent, to 9,286.56.

The S&P 500 index rose 15.15, or 1.5 percent, to 1,002.63, its first move above 1,000 since Nov. 4. The index first closed above that mark in February 1998 and is up 48.2 percent since its recent low on March 9.

The Nasdaq composite index rose 30.11, or 1.5 percent, to 2,008.61, its first close above 2,000 since October.

Confident investors dumped safe-haven assets like Treasurys and the U.S. dollar. The yield on the 10-year Treasury note surged to 3.64 percent from 3.48 percent late Friday as its price fell more than a point.

The dollar fell to its lowest points since last fall against the euro, pound and other currencies.

The ISM's manufacturing report fanned hopes for a hard-hit industry. The group said manufacturing activity slowed in July at the slowest pace in nearly a year.

"We're past the worst of it on the manufacturing side, and we could even be getting back to growth by the third quarter of this year," said Jill Evans, co-portfolio manager, Alpine Dynamic Dividend Fund.

Among banks, Barclays PLC said its first-half net profit increased 10 percent. HSBC Holdings PLC reported a 57 percent drop in its first-half profit, but results were better than anticipated.

Earnings reports have shown that companies aren't losing money at the rapid pace they were last fall and earlier this year. Though there are concerns that the aggressive cost-cutting measures businesses have undertaken to boost profits are not sustainable, forecasts in recent weeks from companies like Intel Corp. and Caterpillar Inc. suggest business conditions are improving.

Investors are keeping watch on unemployment and consumer spending, as well as rising interest rates that could imperil the economy's recovery.

In other trading, news that manufacturing in China and Europe is expanding pushed commodity prices higher. Copper prices, which have nearly doubled this year thanks in large part to unrelenting demand from China, hit a 10-month high.

Light, sweet crude soared $2.13 to settle at $71.58 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 9.07, or 1.6 percent, to 565.78.

Five stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5.7 billion shares, compared with 5.5 billion Friday.

Overseas, Britain's FTSE 100 jumped 1.6 percent, Germany's DAX index rose 1.8 percent, and France's CAC-40 rose 1.5 percent. Japan's Nikkei stock average slipped less than 0.1 percent.