NYSE Dow Jones finished today at:

[bigdog]

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

Weakness underscored the first part of the session as little attention was given to the latest dose of economic data, but a positive tone emerged in afternoon trading as select financial stocks were squeezed higher and a sudden drop by the U.S. dollar helped lift energy and materials stocks. Their combined strength helped lead a midday recovery effort that gave the Dow its eighth straight advance, a feat that hasn't been accomplished in years.

The stock market's rally plodded along Thursday, sustained by gains in financial and industrial shares.

Major indexes overcame early losses and finished slightly higher, including the Dow Jones industrial average, which added 37 points to set a fresh 2009 high. The Dow has risen for eight straight days, its longest winning streak since April 2007.

Trading lacked enthusiasm, however, as it has over the past week, with many investors shying away from making greater commitments to stocks.

The NYSE DOW closed HIGHER +37.11 points +0.39% on Thursday August 27
Sym Last........ ........Change..........
Dow 9,580.63 +37.11 +0.39%
Nasdaq 2,027.73 +3.30 +0.16%
S&P 500 1,030.98 +2.86 +0.28%
30-yr Bond 4.23% +0.03

NYSE Volume 6,545,776,500 (prior day 5,775,125,500)
Nasdaq Volume 2,162,436,250 (prior day 2,091,980,120)

Gold 945.00 -0.50 -0.05%
Oil 72.65 +0.16 +0.22%


Europe
Symbol... Last...... .....Change.......
FTSE 100 4,869.35 -21.23 -0.43%
DAX 5,470.33 -51.64 -0.94%
CAC 40 3,648.53 -19.81 -0.54%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,473.97 -165.74 -1.56%
Hang Seng 20,242.75 -213.57 -1.04%
Straits Times 2,644.48 +16.05 +0.61%

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

Stock market reverses early losses, plods higher

Gains in financials help stocks erase early losses and finish higher; Dow rises for eighth day
By Sara Lepro, AP Business Writer
On Thursday August 27, 2009, 5:34 pm EDT

NEW YORK (AP) -- The stock market's rally plodded along Thursday, sustained by gains in financial and industrial shares.

Major indexes overcame early losses and finished slightly higher, including the Dow Jones industrial average, which added 37 points to set a fresh 2009 high. The Dow has risen for eight straight days, its longest winning streak since April 2007.

Trading lacked enthusiasm, however, as it has over the past week, with many investors shying away from making greater commitments to stocks.

Volume has been extremely light as many traders go on vacation, adding to the market's recent choppiness. The day's economic news, including a slightly smaller-than-expected dip in initial unemployment claims and a benign reading on gross domestic product, did little to excite investors.

Analysts say the market has been running on its own momentum more than anything else, adding that a lot of the improving economic data has already been priced into stocks.

A lot of activity has also been driven by short-covering, analysts say, which tends to amplify gains in the market. Short-covering occurs when investors have to buy stock after having earlier sold borrowed shares in a bet they would fall.

Traders have been anticipating a pullback for weeks, but the dips that have occurred tend to be met with more buying.

"There is just too much cash sitting on the sidelines," said Phil Orlando, chief equity market strategist at Federated Investors.

After giving up as much as 84 points early on, the Dow rose 37.11, or 0.4 percent, to close at 9,580.63. The Dow's eight-day advance totals 445 points, or 4.9 percent.

The Standard & Poor's 500 index rose 2.86, or 0.3 percent, to 1,030.98, while the Nasdaq composite index rose 3.30, or 0.2 percent, to 2,027.73.

Both the S&P 500 and the Nasdaq composite indexes have finished higher seven out of the past eight days, rising about 5 percent over that period.

About eight stocks rose for every seven that fell on the New York Stock Exchange, where consolidated volume came to 5.82 billion shares, compared with 5.10 billion shares on Wednesday.

Despite the run-up in stocks, investors are nervous about overextending the market's massive spring and summer rally, in which stocks have risen more than 45 percent off of 12-year lows since early March.

"You tend to have those moves run out of steam at some time," said Art Hogan, chief market analyst at Jefferies & Co.

Big gains in a handful of financial stocks helped to turn the market around. Shares of American International Group Inc. surged nearly 27 percent, rising $10.15 to $47.84, as analysts speculated the company might be reconciling with former CEO Maurice "Hank" Greenberg, who could help bring private capital to the company. AIG shares have more than doubled in eight days.

CIT Group Inc. jumped 22.8 percent, adding 29 cents to $1.56. Citigroup Inc. rose 42 cents, or 9.1 percent, to $5.05.

Shares of Boeing Co. rose, giving a boost to the Dow, after the company said its long-delayed 787 aircraft will be ready for its first flight by the end of this year. Shares jumped $4, or 8.4 percent, to $51.82.

Energy stocks, which had weighed on the market early in the day, pulled off of their lows as oil prices turned higher. Like stocks, oil prices have been extremely volatile in recent weeks as investors try to determine whether current prices are warranted given still weak demand.

Crude for October delivery added $1.06 to settle at $72.49 a barrel on the New York Mercantile Exchange.

Among the economic news Thursday, the Labor Department said first-time jobless claims fell 10,000 last week to 570,000, just shy of economists' expectations. Workers continuing to file for benefits, however, fell more than expected, declining to 6.13 million from 6.25 million in the previous week. It was the lowest level for continuing claims since early April.

Meanwhile, a Commerce Department report showed the economy shrank at a 1 percent annualized rate in the second quarter. The updated figure was unchanged from a preliminary reading on GDP, and slightly better than the 1.5 percent decline that was forecast.

Bond prices were mostly lower even after a strong auction of seven-year notes. The yield on the 10-year note rose to 3.46 percent from 3.44 percent.

The dollar was mixed, while gold prices inched higher.

In other trading, the Russell 2000 index of smaller companies slipped 0.25, or 0.04 percent, to 583.77.

Asian stocks fell after China said it would cut investment in some industries. Japan's Nikkei stock average lost 1.6 percent, while China's main index fell 0.7 percent.

Britain's FTSE 100 fell 0.4 percent, Germany's DAX index fell 0.9 percent, and France's CAC-40 lost 0.5 percent.

 

[bigdog]

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

The Dow Jones industrial average closed the week up 38.24, or 0.4 percent, at 9,544.20. The Standard & Poor's 500 index rose 2.80, or 0.3 percent, to 1,028.93. The Nasdaq composite index rose 7.87, or 0.4 percent, to 2,028.77.

Thanks to some strong announcements from a few key tech players, stocks were able to build on the previous session's upward momentum and start Friday considerably higher. However, stocks were unable to hold their initial gains as the belief that recent positive announcements have already been priced into stocks prompted sellers to book profits. That resulted in a lackluster finish for the major indices.

Investors balked at extending the market's recent rally Friday despite an improved outlook from Intel Corp.

Stocks closed mostly lower, as losses among health care stocks offset small gains in technology companies. The Dow Jones industrials lost about 36 points, breaking an eight-day winning streak.

Trading was quiet, as it has been all week, as summer vacations kept many traders out of the market. With fewer participants, the market lost some of its recent momentum that had sent the major indexes up about 5 percent in less than two weeks.


The NYSE DOW closed LOWER -36.43 points -0.38% on Friday August 28
Sym Last........ ........Change..........
Dow 9,544.20 -36.43 -0.38%
Nasdaq 2,028.77 +1.04 +0.05%
S&P 500 1,028.93 -2.05 -0.20%
30-yr Bond 4.21% -0.02

NYSE Volume 6,504,707,000 (prior day 6,545,776,500)
Nasdaq Volume 2,376,566,500 (prior day 2,162,436,250)

Gold 945.00 -0.50 -0.05%
Oil 72.86 +0.37 +0.51%

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,908.90 +39.55 +0.81%
DAX 5,517.35 +47.02 +0.86%
CAC 40 3,693.14 +44.61 +1.22%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,534.14 +60.17 +0.57%
Hang Seng 20,098.62 -144.13 -0.71%
Straits Times 2,642.80 +0.57 +0.02%

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

Stocks mostly lower; Nasdaq buoyed by Intel news

Market rally loses steam, stocks finish mostly lower even after Intel raises sales forecast
By Sara Lepro, AP Business Writer
On Friday August 28, 2009, 6:26 pm EDT

NEW YORK (AP) -- Investors balked at extending the market's recent rally Friday despite an improved outlook from Intel Corp.

Stocks closed mostly lower, as losses among health care stocks offset small gains in technology companies. The Dow Jones industrials lost about 36 points, breaking an eight-day winning streak.

Trading was quiet, as it has been all week, as summer vacations kept many traders out of the market. With fewer participants, the market lost some of its recent momentum that had sent the major indexes up about 5 percent in less than two weeks.

Stocks managed to carve out their sixth weekly advance in seven weeks, but the gains were minimal.

Wall Street turned cautious this week as investors worried that the market's rally, now closing in on six months, may have run its course.

Investors are especially nervous as they head into September, historically the stock market's worst month. Last September, which saw the collapse of Lehman Brothers and the kickoff of the worst financial crisis in decades, is still fresh in investors' minds.

"Tuesday begins one of the most feared months of the calendar," said Lawrence Creatura, portfolio manager at Federated Clover Investment Advisors.

The first week of September 2009 will bring a key report on manufacturing activity, which has been improving, as well as the Labor Department's tally of job losses in August -- the month's most telling piece of economic data. Last month, news that employers cut fewer jobs in July and the unemployment rate fell sent stocks soaring.

On Friday, the Dow fell 36.43, or 0.4 percent, to 9,544.20. The Standard & Poor's 500 index fell 2.05, or 0.3 percent, to 1,027.76, while Nasdaq composite index rose 1.04, or 0.1 percent, to 2,028.77.

The market got an initial boost after Intel, the world's largest maker of computer chips, raised the top end of its sales forecast for the current quarter from $8.9 billion to $9.2 billion.

Intel's upbeat report came after computer maker Dell Inc. posted better-than-expected results for its May-July quarter late Thursday. While sales continued to fall because of reduced spending by consumers and businesses, Dell said it has seen signs of improvement.

Investors also got more data Friday on the consumer, a focal point for investors in recent weeks worried that sluggish spending will hinder the economy's recovery.

The Commerce Department said consumer spending rose 0.2 percent in July, which was in line with economists' expectations. The latest report also said personal income was flat in July. Economists had expected a 0.2 percent increase.

Growth in spending and consumer confidence has been hampered by rising unemployment. Investors are hoping next week's jobs report will provide more evidence that job losses are slowing.

As of Friday, both the Dow and the S&P 500 are on track to have their best Augusts since 2000, each up just over 4 percent for the month. That's well above the S&P 500's 20-year average of a negative return of 0.5 percent in August.

Most of the gains were made last week, after Federal Reserve Chairman Ben Bernanke's upbeat assessment of the economy sent investors clamoring for stocks. This week, the Dow and the Nasdaq gained just 0.4 percent, while the S&P 500 rose 0.3 percent.

Bond prices edged higher. The yield on the 10-year Treasury note fell to 3.45 percent from 3.46 percent late Thursday.

Oil rose 25 cents to settle at $72.74 on the New York Mercantile Exchange. Oil hit $75 during the week, a high for the year.

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

Advancing issues narrowly outpaced decliners on the New York Stock Exchange, where volume came to a relatively low 5.81 billion shares, down from 5.82 billion on Thursday.

The Dow Jones industrial average closed the week up 38.24, or 0.4 percent, at 9,544.20. The Standard & Poor's 500 index rose 2.80, or 0.3 percent, to 1,028.93. The Nasdaq composite index rose 7.87, or 0.4 percent, to 2,028.77.

The Russell 2000 index, which tracks the performance of small company stocks, fell 1.65, or 0.3 percent, for the week to 581.51.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,579.61, up 27.35, or 0.3 percent, for the week. A year ago, the index was at 13,288.52.

649

 

[bigdog]

I wish to include the "S&P Volume" data in my daily posting.

I would very much appreciate if someone could please advise me the S&P Volume Symbol

^TV.N = NYSE Volume
^TV.O = Nasdaq Volume
-- I have tried all the other letters!!

 

[bigdog]

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

Both stocks and commodities spent the entire session trading with considerable weakness as a broad-based selling effort took hold following a steep sell-off in China's Shanghai Composite Index.

The Shanghai Composite dropped 6.7% on Monday to hit a three-month closing low and log its second worst monthly performance in 15 years amid valuation concerns and fears that tighter lending in China will impede the flow of investment funds. Investors and traders responded to the selling effort by sending many of the major global averages lower. In turn, the Dow Jones World Index lost 0.8%.

After giving the stock market a big gain during August, investors still worried about the economy backtracked the final day of the month.

Stocks fell in light trading Monday after a 6.7 percent plunge in China's main stock market sent a wave of selling around the world and added to concerns that stocks have rocketed too high, too fast since hitting 12-year lows in March.

The Standard & Poor's 500 index rose 3.4 percent in August for its sixth straight monthly gain, advancing despite some periodic choppy trading as investors fretted about an economic recovery. It is up 50.9 percent since early March, the best six-month run since 1938.

The NYSE DOW closed LOWER -47.92 points -0.50% on Monday August 31
Sym Last........ ........Change..........
Dow 9,496.28 -47.92 -0.50%
Nasdaq 2,009.06 -19.71 -0.97%
S&P 500 1,020.62 -8.31 -0.81%
30-yr Bond 4.1810% -0.0270

NYSE Volume 6,013,961,500 (prior day 6,504,707,000)
Nasdaq Volume 2,349,098,000 (prior day 2,376,566,500)

Gold 945.00 -0.50 -0.05%
Oil 69.80 -0.16 -0.23%

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,908.90 closed for holiday (Aug 31)
DAX 5,464.61 -52.74 -0.96%
CAC 40 3,653.54 -39.60 -1.07%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,492.53 -41.61 -0.40%
Hang Seng 19,724.19 -374.43 -1.86%
Straits Times 2,605.39 -37.41 -1.42%

http://finance.yahoo.com/news/Stock...2.html?x=0&sec=topStories&pos=3&asset=&ccode=

Stocks end strong month with a bout of selling

Stocks slide after drop in Asia; Caution grows among investors look to often difficult month
By Tim Paradis, AP Business Writer
On Monday August 31, 2009, 6:16 pm EDT

NEW YORK (AP) -- After giving the stock market a big gain during August, investors still worried about the economy backtracked the final day of the month.

Stocks fell in light trading Monday after a 6.7 percent plunge in China's main stock market sent a wave of selling around the world and added to concerns that stocks have rocketed too high, too fast since hitting 12-year lows in March.

The Standard & Poor's 500 index rose 3.4 percent in August for its sixth straight monthly gain, advancing despite some periodic choppy trading as investors fretted about an economic recovery. It is up 50.9 percent since early March, the best six-month run since 1938.

Monday's trading followed a pattern seen several times during August, with U.S. stocks falling alongside other world markets after China's Shanghai exchange slid on uneasiness about that country's economy. If China is struggling, its problems could affect the recoveries in other countries including the United States.

Meanwhile, investors awaited the start of September, which has been the worst month for the stock market over the past 80 years. And this September begins with many analysts questioning whether investors have bet too soon on a recovery as they sent stocks soaring this year. Reports due Tuesday on manufacturing and employment on Friday could upend the market's six-month-old rally or help push it forward.

The drop in stocks Monday was broad and a 48-point drop in the Dow Jones industrial average was the biggest in two weeks. Energy and materials stocks posted some of the biggest losses as prices for commodities like crude and copper slid on concerns that demand from China would fall.

The retreat in stocks shaved some gains from the best August since 2000. For the month, the Dow rose 3.5 percent and the Nasdaq composite index rose 1.5 percent.

Since its low in March, the Dow is up 45.1 percent and the Nasdaq is up 58.4 percent.

"The markets have been looking like they've been somewhat reluctant to hold their gains over the last couple of sessions," said Blaze Tankersley, chief market strategist at Bay Crest Partners, adding that the news from China gave investors a good excuse to sell.

Still, the market has had some breaks in its march higher. Analysts have been saying all along that some back-and-forth was to be expected as investors, while generally optimistic about the future, have been reluctant to commit wholeheartedly to stocks.

The Dow fell 47.92, or 0.5 percent, to 9,496.38. The S&P 500 index slid 8.31, or 0.8 percent, to 1,020.62, while the Nasdaq dropped 19.71, or 1 percent, to 2,009.06.

The Russell 2000 index of smaller companies fell 7.79, or 1.3 percent, to 572.07.

Three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.3 billion shares, compared with 5.8 billion Friday. Light volume can skew price moves. It is often light in late summer as some traders take vacations.

Japan's Nikkei stock average fell 0.4 percent after the country's opposition party came to power in a landslide victory. Germany's DAX index fell 1 percent, while France's CAC-40 lost 1.1 percent. The London Stock Exchange was closed for a holiday.

China's Shanghai Composite Index is down more than 20 percent from its peak in early August. That leaves the index in bear market territory as investors worry that a tightening in bank lending could hurt the country's economy.

"As China goes, so goes a lot of the rest of the world," said Brian Nick, investment strategist at Barclays Wealth.

Oil tumbled $2.78 to settle at $69.96 a barrel on the New York Mercantile Exchange. Copper fell 4.2 percent. Gold also fell as the dollar was mixed against other major currencies.

Demand for the safety of government debt rose, underscoring the market's uneasiness. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.40 percent from 3.45 percent late Friday.

Commodities producers fell. Aluminum maker Alcoa posted the biggest drop among the 30 stocks that make up the Dow, falling 45 cents, or 3.6 percent, to $12.05. Freeport-McMoRan Copper & Gold Inc. slid $2.50, or 3.8 percent, to $62.98.

Investors looked past an improvement in Midwest business conditions. The Chicago Purchasing Managers index, which measures business activity in Illinois, Michigan and Indiana, jumped to 50.0 in August from 43.4 in July, ending 10 consecutive months of drops.

The index is considered a precursor to the Institute for Supply Management's manufacturing index, which is due Tuesday. A reading above 50 indicates growth in manufacturing, something that hasn't happened since January 2008.

Trading is expected to be light this week but several important reports could sway the market.

The government's monthly jobs report on Friday will draw the most attention. Economists are expecting another 220,000 jobs were lost, down from 247,000 in July.

Last month's report showed an unexpected dip in the unemployment rate and investors are anxious to see whether the rate continues to fall. If fewer jobs are being lost, consumers might start to feel comfortable spending again.

Investors cheered improvements in consumer confidence in August and an upbeat assessment of the economy from Federal Reserve Chairman Ben Bernanke but analysts warn September could prove difficult.

Sam Stovall, chief investment strategist for U.S. equity research at S&P, noted that since 1929 the S&P 500 index has lost an average 1.3 percent for the month. But the index has gained about 2 percent in the 14 Septembers that followed the end of bear markets.

 

[bigdog]

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

The belief that stocks are overbought and that they already reflect positive economic data prompted participants to make a concerted and broad-based push against stocks. That made for an ominous start to September as nearly 95% of the companies in the S&P 500 logged losses this session. Such weakness seemed fitting, though, since September has historically been a weak month for stocks.

A stock market ripe for a big pullback succumbed Tuesday, plunging when rumors of a bank failure revived investors' anxiety about the banking industry and the economy as a whole.

A batch of economic reports that just weren't good enough added to the mix as the major indexes all fell about 2 percent and the Dow Jones industrials slid 185 points. Treasury prices, usually the beneficiary of a slide in stocks, ended only moderately higher.

A break in the market's six-month rally was widely expected after investors showed a growing inclination to sell for some time. While the major indexes finished August with respectable gains, including a 3.4 percent rise in the Standard & Poor's 500, trading was erratic and the advances had a half-hearted feeling. Analysts warned that investors were doubting whether they should have bid stocks so high in the rally that began in early March.

The NYSE DOW closed LOWER -185.68 points -1.96% on Tuesday August 1
Sym Last........ ........Change..........
Dow 9,310.60 -185.68 -1.96%
Nasdaq 1,968.89 -40.17 -2.00%
S&P 500 998.04 -22.58 -2.21%
30-yr Bond 4.1980% +0.0170

NYSE Volume 8,014,731,500 (prior day 6,013,961,500)
Nasdaq Volume 2,813,597,000 (prior day 2,349,098,000)

Gold 945.00 -0.50 -0.05%
Oil 68.36 -1.60 -2.29%

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,819.70 -89.20 -1.82%
DAX 5,327.29 -137.32 -2.51%
CAC 40 3,583.44 -70.10 -1.92%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,530.06 +37.53 +0.36%
Hang Seng 19,872.30 +148.11 +0.75%
Straits Times 2,596.39 +3.49



http://finance.yahoo.com/news/Worries-about-banks-drag-apf-4251104718.html?x=0
Worries about banks drag stock market lower
Stocks tumble as traders juggle worries about health of banks, size of market's six-month run
By Sara Lepro and Tim Paradis, AP Business Writers
On Tuesday September 1, 2009, 6:38 pm EDT

NEW YORK (AP) -- A stock market ripe for a big pullback succumbed Tuesday, plunging when rumors of a bank failure revived investors' anxiety about the banking industry and the economy as a whole.

A batch of economic reports that just weren't good enough added to the mix as the major indexes all fell about 2 percent and the Dow Jones industrials slid 185 points. Treasury prices, usually the beneficiary of a slide in stocks, ended only moderately higher.

A break in the market's six-month rally was widely expected after investors showed a growing inclination to sell for some time. While the major indexes finished August with respectable gains, including a 3.4 percent rise in the Standard & Poor's 500, trading was erratic and the advances had a half-hearted feeling. Analysts warned that investors were doubting whether they should have bid stocks so high in the rally that began in early March.

So it wasn't surprising that, after the Dow was up 60 points in response to a seemingly better-than-expected reading on manufacturing, something like a rumor about a possible bank failure could take the market down.

"Some time midmorning, rumors came out that a large bank could be in trouble," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. "That's all it takes to spook this market."

The rumors were never substantiated.

The Dow's drop virtually equaled a 186-point slide two weeks ago that the market later recovered from, sending stocks to their highest levels in almost 10 months. Dan Deming, a trader with Strutland Equities in Chicago, said it didn't appear much had changed in the market since then, but investors have grown more nervous as stocks have pushed higher and that was enough to tip off heavy selling.

"It's really more psychological right now than anything. The first day of September -- the market shows some weakness and then it just kind of starts to feed on itself," he said. "Everybody is kind of looking over their shoulder."

Deming referred to the fact that many investors had some fear of what might happen in September, which historically has been the worst month for stocks. Many analysts said the change in calendar was one of many factors that created a critical mass of sorts for the market and fueled Tuesday's drop.

Banks and insurance companies were among the most notable losers amid the fears of bank failures, but they also had been pumped up the most in the rally that lifted the market more than 50 percent since hitting 12-year lows in March. With the government reporting last week that 400 banks were in trouble during the second quarter, investors' anxiety about the health of the financial industry was heightened and so rumors that investors might shrug off in less fractious times became powerful enough to cause sustained losses.

The plunge in stocks came even as the Institute for Supply Management reported that U.S. manufacturing grew in August for the first time since January 2008. The market also shrugged off another positive economic report, the sixth straight monthly increase in pending home sales.

On the surface, the day's economic numbers were good. A deeper look at the data gave some cause for concern.

Analysts said both the manufacturing and housing reports got a boost from government stimulus efforts, including the Cash for Clunkers program that has since expired, which means the recovery in those industries may not continue at the same pace.

"In both cases it seems headlines overstate details by a touch," said Tom di Galoma, head of U.S. rates trading at Guggenheim Capital Markets LLC. "People reviewed the numbers and said this type of demand is just not sustainable."

Investors were also uneasy ahead of Friday's employment report from the government, which could reveal more bad news about the job market, one of the worst remaining problem areas in the U.S. economy.

The Dow dropped 185.68, or 2 percent, to 9,310.60. The index is down 270 points, or 2.8 percent, since Friday, its biggest drop over three days since July 7, when it lost 341 points.

The S&P 500 fell 22.58, or 2.2 percent, to 998.04, while the Nasdaq composite index fell 40.17, or 2 percent, to 1,968.89.

The day's retreat was broad:

-- Of the 30 stocks that make up the Dow industrials, only Wal-Mart Stores Inc. rose.

-- Five stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 7 billion shares compared with a light 5.3 billion Monday.

-- The Chicago Board Options Exchange's Volatility Index, known as the market's fear index, surged 12.1 percent, its biggest jump since Aug. 17. The VIX stands at 29.2 and is down 27 percent in 2009 and its historical average is 18-20. It hit a record 89.5 in October at the height of the financial crisis.

In other trading, the Russell 2000 index of smaller companies fell 14.01, or 2.5 percent, to 558.06.

Bond prices turned mostly higher after stocks began to fall and investors went in search of safer assets. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.36 percent from 3.40 percent late Monday.

Among financial stocks, Bank of America Corp. fell $1.13, or 6.4 percent, to $16.46, while JPMorgan Chase & Co. dropped $1.79, or 4.1 percent, to $41.67. Citigroup Inc. fell 46 cents, or 9.2 percent, to $4.54.

There was one gainer in the Dow: Wal-Mart Stores Inc. rose 10 cents to $50.97.

While the pullback in stocks Tuesday was significant, even with the drop, stocks have risen so much that only one of the roughly 3,100 stocks traded on the NYSE hit a new annual low. And, 53 carved new highs.

 

[bigdog]

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

Despite plenty of trading catalysts, participants kept stocks confined to a relatively narrow trading range as they allowed the previous session's sell-off to consolidate in low-volume trade.

The stock market extended its slide to a fourth day as investors worried that a weak job market will trip up a recovery in the economy.

Stocks posted modest losses Wednesday, a day after tumbling on fears about the health of banks and concerns that a six-month rally of 50 percent has left the stock market overheated. The Dow Jones industrial average lost another 30 points after skidding 186 points Tuesday.

A private sector report on unemployment gave investors new reason to fret about what is widely seen as the biggest problem facing the economy. The ADP National Employment Report found that employment fell by 298,000 in August following a revised loss of 360,000 jobs in July. The losses were the smallest since September 2008 but more than analysts had expected.

The NYSE DOW closed LOWER -29.93 points -0.32% on Wednesday September 2
Sym Last........ ........Change..........
Dow 9,280.67 -29.93 -0.32%
Nasdaq 1,967.07 -1.82 -0.09%
S&P 500 994.75 -3.29 -0.33%
30-yr Bond 4.1040% -0.0940

NYSE Volume 6,749,287,500 (prior day 8,014,731,500)
Nasdaq Volume 2,001,814,620 (prior day 2,813,597,000)

Gold 945.00 -0.50 -0.05%
Oil 68.35 +0.30 +0.44%

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,817.55 -2.15 -0.04%
DAX 5,319.84 -7.45 -0.14%
CAC 40 3,573.13 -10.31 -0.29%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,280.46 -249.60 -2.37%
Hang Seng 19,522.00 -350.30 -1.76%
Straits Times 2,569.93 -26.46 -1.02%

http://finance.yahoo.com/news/Stocks-fade-as-traders-worry-apf-712486094.html?x=0
Stocks fade as traders worry about unemployment

Stocks fall to extend slide as investors worry that unemployment will short-circuit recovery
By Tim Paradis, AP Business Writer
On Wednesday September 2, 2009, 5:44 pm EDT

NEW YORK (AP) -- The stock market extended its slide to a fourth day as investors worried that a weak job market will trip up a recovery in the economy.

Stocks posted modest losses Wednesday, a day after tumbling on fears about the health of banks and concerns that a six-month rally of 50 percent has left the stock market overheated. The Dow Jones industrial average lost another 30 points after skidding 186 points Tuesday.

A private sector report on unemployment gave investors new reason to fret about what is widely seen as the biggest problem facing the economy. The ADP National Employment Report found that employment fell by 298,000 in August following a revised loss of 360,000 jobs in July. The losses were the smallest since September 2008 but more than analysts had expected.

The report shapes expectations for the Labor Department's monthly reading on jobs, which is due Friday. Unemployment has hit consumer spending, which accounts for about 70 percent of U.S. economic activity. Without more help from consumers, the economy will have trouble pulling out of the longest recession since World War II.

"Until Friday's data comes, no one is really making any big bets," said Neil Massa, senior trader at MFC Global Investment Management. "A little profit-taking looks healthy at this point."

Analysts said the market's ability to avoid another steep drop was a good sign but cautioned that trading volume remains light ahead of the Labor Day holiday. Weak volume can skew the market's moves and makes it difficult to draw conclusions about investor sentiment.

"We need these periods of backing off," said Darin Newsom, senior analyst at DTN in Omaha, Neb. "When there is no news to really spark the interest that we need to take this thing higher, the inclination is to sell off."

Even with stocks down for four days, major market indicators have given up only two week's worth of gains. The Standard & Poor's 500 is up 47 percent from a 12-year low on March 9.

The Dow fell 29.93, or 0.3 percent, to 9,280.67, pushing its four-day slide to 300 points, or 3.1 percent. The index crossed between gains and losses 108 times as it traded in the second tightest point range this year.

The S&P 500 index fell 3.29, or 0.3 percent, to 994.75, while the Nasdaq composite index fell 1.82, or 0.1 percent, to 1,967.07.

Bond prices rose, pushing down yields. The yield on the benchmark 10-year Treasury note fell to 3.31 percent from 3.36 percent late Tuesday.

An increase in worker productivity couldn't shake investors' concerns about the economy. The Labor Department said output grew in the spring at the fastest pace in nearly six years while labor costs fell by the most in nine years. Productivity is the biggest factor in determining living standards because companies can afford to pay more if output increases.

Investors also were disappointed by the Commerce Department's report that factory orders rose 1.3 percent in July. That fell short of a 2.2 percent increase analysts expected, according to a survey by Thomson Reuters.

In other trading, the dollar slipped against other major currencies, while gold prices rose.

Light, sweet crude finished unchanged at $68.05 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 2.23, or 0.4 percent, to 555.83.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 6 billion shares compared with 7 billion Tuesday.

Overseas, Britain's FTSE 100 slipped less than 0.1 percent, while Germany's DAX index fell 0.1 percent and France's CAC-40 lost 0.3 percent. Japan's Nikkei stock average tumbled 2.4 percent after the drop Tuesday in the U.S.

 

[bigdog]

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

A late squeeze gave stocks a strong finish after they had spent most of the session in a rather narrow range that was largely underscored by thin trading. Though there were several trading catalysts to drive action this session, the overall mood among participants was subdued ahead of the August nonfarm jobs report.

A near 5% spike by China's stock market helped stir a positive bias ahead of the U.S. open. However, another dismal dose of jobless claims disrupted the strong tone. Initial claims for the week ending Aug. 29 totaled 570,000, down just 4,000 from the previous week, but slightly more than the 564,000 that were expected. The week-over-week increase took the 4-week moving average up to 571,300, leaving economists with the impression that the weekly trend isn't headed lower any time soon.

Investors moved back into stocks after a four-day slide on hopes that a key government report on unemployment will confirm that the economy is gaining strength.

The Dow Jones industrial average tacked on 64 points Thursday after sliding 300 points since Friday. Stocks held to a tight range for much of the day in light trading as some investors squeezed in late-summer vacations. Those remaining braced for the August jobs report, which is due before the opening bell Friday.

The biggest gains came in the final half-hour, with the Dow doubling its advance, as some traders looked to buy ahead of the jobs data. Economists expect the unemployment rate to edge up to 9.5 percent from 9.4 percent, while the number of layoffs is expected to slow to 225,000 from 247,000. Some economists have raised their expectations in recent weeks but the sunnier forecasts leave the market more vulnerable to disappointment.

The NYSE DOW closed HIGHER +63.94 points +0.69% on Thursday September 3
Sym Last........ ........Change..........
Dow 9,344.61 +63.94 +0.69%
Nasdaq 1,983.20 +16.13 +0.82%
S&P 500 1,003.24 +8.49 +0.85%
30-yr Bond 4.1500% +0.0460

NYSE Volume 5,369,914,000 (prior day 6,749,287,500)
Nasdaq Volume 1,869,939,250 (prior day 2,001,814,620)

Gold 945.00 -0.50 -0.05%
Oil 68.11 +0.06 +0.09%

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,796.75 -20.80 -0.43%
DAX 5,301.42 -18.42 -0.35%
CAC 40 3,553.51 -19.62 -0.55%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,214.64 -65.82 -0.64%
Hang Seng 19,761.68 +239.68 +1.23%
Straits Times 2,598.36 +28.43 +1.11%

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

Stocks break 4-day slide ahead of jobs report

Stocks carve modest gains after 4 days of losses; investors await August employment data
By Tim Paradis, AP Business Writer
On Thursday September 3, 2009, 5:50 pm EDT

NEW YORK (AP) -- Investors moved back into stocks after a four-day slide on hopes that a key government report on unemployment will confirm that the economy is gaining strength.

The Dow Jones industrial average tacked on 64 points Thursday after sliding 300 points since Friday. Stocks held to a tight range for much of the day in light trading as some investors squeezed in late-summer vacations. Those remaining braced for the August jobs report, which is due before the opening bell Friday.

The biggest gains came in the final half-hour, with the Dow doubling its advance, as some traders looked to buy ahead of the jobs data. Economists expect the unemployment rate to edge up to 9.5 percent from 9.4 percent, while the number of layoffs is expected to slow to 225,000 from 247,000. Some economists have raised their expectations in recent weeks but the sunnier forecasts leave the market more vulnerable to disappointment.

The latest snapshot on employment Thursday offered investors little to go on ahead of Friday's report. The Labor Department said the number of people filing for unemployment claims fell last week by 4,000 to 570,000 while the number of people receiving benefits rose. Economists had been expecting a bigger drop, and the report served as a reminder of how difficult a recovery in employment will be.

Reports from retailers offered more insight into consumers' troubles. Many remain focused on necessities, though some are starting to open their wallets. Overall sales were still weak but many companies including Gap Inc. and Costco Wholesale Corp. posted results that topped investors' expectations.

Trading has been jittery in the past two weeks because some investors who have placed big bets on a recovery are worried that unemployment will make it hard for the economy to pull out of the longest recession since World War II. Consumer spending accounts for about 70 percent of U.S. economic activity.

By last month, major stock indicators like the Standard & Poor's 500 index had jumped more than 50 percent from 12-year lows in early March. Analysts say the latest slide was a necessary adjustment for the market, even though it erased only about two weeks worth of gains. Traders become nervous if stocks climb too quickly without a break, which is seen as an indicator of indiscriminate buying.

"We had a bit of reality catching up with expectations," said Bill Stone, chief investment strategist at PNC Wealth Management.

The Dow rose 63.94, or 0.7 percent, to 9,344.61. The S&P 500 index rose 8.49, or 0.9 percent, to 1,003.24, while the Nasdaq composite index rose 16.13, or 0.8 percent, to 1,983.20.

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

Bond prices fell, pushing the yield on the 10-year note up to 3.35 percent from 3.31 percent.

Analysts say the dearth of market participants going in to the long Labor Day weekend has added to the market's choppiness.

"I wouldn't want to read too much into anything until we get into next week," said Alan Brown, group chief investment officer at Schroders in London, referring to the light trading volume.

The dollar was mixed, while gold prices extended their recent climb.

Oil fell 9 cents to settle at $67.96 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 6.66, or 1.2 percent, to 562.49.

 

[bigdog]

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

The Dow Jones industrial average closed the week down 102.93, or 1.1 percent, at 9,441.27. The Standard & Poor's 500 index fell 12.53, or 1.2 percent, to 1,016.40. The Nasdaq composite index fell 9.99, or 0.5 percent, to 2,018.78.

Buyers continued to push stocks higher in the face of some rather ugly unemployment headlines as strong momentum from the previous session and pent up buying fed a positive bias.

Stocks jumped in light trading Friday after the government reported that the pace of job losses slowed in August to the lowest level in a year.

The Dow Jones industrial average gained 97 points to halve its loss for the week after the Labor Department said employers cut fewer workers last month. However, the report also showed that the ranks of the unemployed swelled to 9.7 percent, the highest level since June 1983.

Analysts had been expecting the rate to increase to 9.5 percent after unexpectedly dipping in July. The increase initially spooked the market, but stocks later recovered their losses and moved higher. Many economists expect the rate to top 10 percent by early next year.

The NYSE DOW closed HIGHER +96.66 points +1.03% on Friday September 4
Sym Last........ ........Change..........
Dow 9,441.27 +96.66 +1.03%
Nasdaq 2,018.78 +35.58 +1.79%
S&P 500 1,016.40 +13.16 +1.31%
30-yr Bond 4.27% +0.12

NYSE Volume 4,756,504,000 (prior day 5,369,914,000)
Nasdaq Volume 1,742,961,000 (prior day 1,869,939,250)

Gold 945.00 -0.50 -0.05%
Oil 67.79 -0.17 -0.25%

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,851.70 +54.95 +1.15%
DAX 5,384.43 +83.01 +1.57%
CAC 40 3,598.76 +45.25 +1.27%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,187.11 -27.53 -0.27%
Hang Seng 20,318.62 +556.94 +2.82%
Straits Times 2,622.69 +24.33 +0.94%

http://finance.yahoo.com/news/Stocks-jump-as-jobs-report-apf-671400286.html?x=0
Stocks jump as jobs report provides a little hope

Stocks jump as government reports employers cut fewer jobs last month; Dow gains 97 points
By Tim Paradis, AP Business Writer
On Friday September 4, 2009, 5:56 pm EDT

NEW YORK (AP) -- Stocks jumped in light trading Friday after the government reported that the pace of job losses slowed in August to the lowest level in a year.

The Dow Jones industrial average gained 97 points to halve its loss for the week after the Labor Department said employers cut fewer workers last month. However, the report also showed that the ranks of the unemployed swelled to 9.7 percent, the highest level since June 1983.

Analysts had been expecting the rate to increase to 9.5 percent after unexpectedly dipping in July. The increase initially spooked the market, but stocks later recovered their losses and moved higher. Many economists expect the rate to top 10 percent by early next year.

Employers cut 216,000 jobs last month, fewer than the 276,000 lost in July and better than the 225,000 figure analysts had been expecting. Traders said it was an encouraging sign that the labor market could righting itself.

"The overall picture is things are getting better," said Ryan Larson, senior equity trader at Voyageur Asset Management.

Unemployment is widely seen as the economy's biggest hurdle to recovery, and concerns about it have been weighing on the stock market. As long as job losses remain high, consumers could hold off spending money, which the U.S. economy badly needs to resume growth.

"The market is looking at directional changes, and so at this state of the economic recovery I think the fact that you see unemployment rising shouldn't be that surprising," said Thomas K. R. Wilson, managing director, institutional investments group at Brinker Capital in Berwyn, Pa.

Analysts said that the thin trading volume before the long holiday weekend made it difficult to conclude that a shift in investor sentiment was occurring. Markets will be closed on Monday for Labor Day.

Stock trading has been erratic over the past few weeks as a six-month rally slowed on worries that the market's rise of more than 50 percent since March has been overdone.

The Dow rose 96.66, or 1 percent, to 9,441.27. The Standard & Poor's 500 index rose 13.16, or 1.3 percent, to 1,016.40, while the Nasdaq composite index added 35.58, or 1.8 percent, to 2,018.78.

About four stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to a low 4.1 billion shares, compared with 4.7 billion Thursday.

For the week, the Dow lost 103 points, or 1.1 percent. The S&P 500 index lost 1.2 percent and the Nasdaq slipped 0.5 percent.

Some analysts said the market overreacted to the jobs report. Dan Cook, senior market analyst at IG Markets in Chicago, said the economy isn't strong enough to support the market at its current levels.

"Employers are not going to be looking to add to staffs any time soon," Cook said.

Still, there were signs that investors were becoming less fearful after a four-day slide in stocks that ended Thursday. The losses included a 186-point plunge on Monday that came on worries about the health of banks and the overall economy.

Demand for the safety of government debt fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.45 percent from 3.35 percent late Thursday.

The Chicago Board Options Exchange's Volatility Index -- known as the market's "fear index" -- fell 6.8 percent to 25.3. It's down 36.9 percent in 2009 and its historical average is 18-20. It surged to a record 89.5 in October at the height of the financial crisis.

Analysts said a test of the market will come later in the month as traders return from vacation and raise more questions about whether investors have bet too soon the economy's ability to recover.

In downturns in the past 60 years, the S&P 500 index has reached a bottom an average of four months before a recession ended and about nine months before unemployment reached its peak. The index, which is the basis of many mutual funds, hit a 12-year low in March.

Some traders are also concerned about the market's track record for September, which has been the worst month for stocks over the past 80 years. Since 1929, the S&P 500 index has lost an average 1.3 percent during the month. But the index has gained about 2 percent in the 14 Septembers that followed the end of bear markets.

In other trading, the dollar was mixed against other major currencies, while gold prices retreated after hitting a six-month high of near $1,000.

Light, sweet crude rose 6 cents to settle at $68.02 a barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 8.01, or 1.4 percent, to 570.50.

Overseas, Britain's FTSE 100 rose 1.2 percent, Germany's DAX index rose 1.6 percent, and France's CAC-40 added 1.3 percent. Japan's Nikkei stock average fell 0.3 percent.

The Dow Jones industrial average closed the week down 102.93, or 1.1 percent, at 9,441.27. The Standard & Poor's 500 index fell 12.53, or 1.2 percent, to 1,016.40. The Nasdaq composite index fell 9.99, or 0.5 percent, to 2,018.78.

The Russell 2000 index, which tracks the performance of small company stocks, fell 9.36, or 1.6 percent, for the week to 570.50.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,451.47, down 128.14, or 1.2 percent

052

 

[bigdog]

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

The NYSE DOW was CLOSED for labour day Monday September 7

European and Asian stocks rose Monday after finance officials from 20 rich and developing countries pledged to keep in place their massive stimulus programs to prop up the global economy.

News of corporate takeover activity, with Cadbury jumping 37.8 percent after rejecting a takeover offer from Kraft, also helped stocks start the week well on a day when Wall Street will be closed for the Labor Day holiday.

Germany's DAX closed up 1.5 percent, to 5,463.51, while Britain's FTSE 100 gained 1.7 percent, to 4,933.18. France's CAC-40 added 1.5 percent, to 3,652.83.

Benchmarks in Japan, Hong Kong and China added about 1 percent or more after Beijing said it would allow greater access to foreign investors.

The NYSE DOW was CLOSED for labour day Monday September 7
Sym Last........ ........Change..........
Dow 9,441.27 closed for labor day
Nasdaq 2,018.78 closed for labor day
S&P 500 1,016.40 closed for labor day
30-yr Bond 4.27% closed for labor day

Gold 945.00 -0.50 -0.05%
Oil 68.07 +0.05 +0.07%

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,933.18 +81.48 +1.68%
DAX 5,463.51 +79.08 +1.47%
CAC 40 3,652.83 +54.07 +1.50%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,320.94 +133.83 +1.31%
Hang Seng 20,629.31 +310.69 +1.53%
Straits Times 2,628.34 +5.65 +0.22%

http://finance.yahoo.com/news/Stocks-rise-after-G20-say-apf-1329915979.html?x=0

Stocks rise after G-20 say stimulus will stay

European, Asian markets advance after G-20 countries commit to keeping stimulus in place
By Carlo Piovano, AP Business Writer
On Monday September 7, 2009, 12:35 pm EDT

LONDON (AP) -- European and Asian stocks rose Monday after finance officials from 20 rich and developing countries pledged to keep in place their massive stimulus programs to prop up the global economy.

News of corporate takeover activity, with Cadbury jumping 37.8 percent after rejecting a takeover offer from Kraft, also helped stocks start the week well on a day when Wall Street will be closed for the Labor Day holiday.

Germany's DAX closed up 1.5 percent, to 5,463.51, while Britain's FTSE 100 gained 1.7 percent, to 4,933.18. France's CAC-40 added 1.5 percent, to 3,652.83.

Benchmarks in Japan, Hong Kong and China added about 1 percent or more after Beijing said it would allow greater access to foreign investors.

Investors reacted positively to the weekend announcements from finance officials at the Group of 20 summit in London, which acknowledged some improvements in economic growth but warned recovery was not sustainable without continued help from governments in the form of deficit spending, low interest rates and efforts to expand the money supply.

"It will come as a relief to markets that G-20 central bankers and finance ministers agreed that it was too early to begin withdrawing massive fiscal, monetary and financial support," said Mitul Kotecha, analyst at Calyon.

Markets had been worried that nascent signs of economic recovery would lead countries to unwind their stimulus, but the G-20 dispelled those fears.

"It is hardly surprising that officials are not formulating an early exit from emergency measures, especially given the ongoing uncertainty about the pace and shape of global economic recovery," said Kotecha.

He said growing doubts about the duration of an economic rebound will "pose a risk to the sustainability of any equity rally over coming months" as stocks look increasingly overvalued.

"Amongst the factors needed is some clarity about the pace and shape of growth once stimulus is reversed."

Stock markets were also helped by upbeat corporate and economic news.

Kraft Foods Inc.'s proposed 10.2 billion pounds ($16.7 billion) takeover of Cadbury PLC was immediately rejected as too low by the British maker of chocolate, gum and candy, but Kraft said it was determined to find an adequate offer.

"A key question is whether there is a counter bid, most likely from a Nestle-led consortium," said Graham Jones, analyst at Panmure Gordon & Co. "However, we see the most likely scenario being Kraft being successful on improved terms."

In Germany, industrial orders rose 3.5 percent on the month in July, suggesting the worst of a global slump in demand may be past for the export-dependent country.

"Despite some volatility in the data over the past few months, there is now rising evidence of a more broad-based demand for German capital goods and intermediate goods," said analysts at Calyon.

In Asia, Chinese stocks continued their recovery after the government said it would allow foreign investors to sink more money into the mainland's markets.

In Hong Kong, the Hang Seng was up 1.5 percent at 20,629.31. Shanghai's main benchmark gained 0.7 percent to 2,881.12.

Japan's Nikkei 225 stock average added 133.83 points, or 1.3 percent, to 10,320.94, snapping a three-day losing streak. Australia's index edged up 0.4 percent, Taiwan rose 1 percent and Indonesia's benchmark gained 0.4 percent. Markets in Korea and Singapore were little changed.

On Friday in the U.S., investors pushed stocks up after data showed the unemployment rate rose in August but that jobs were being cut at a slower pace.

The Dow rose 1 percent to 9,441.27, the Standard & Poor's 500 index rose 1.3 percent to 1,016.40 and the Nasdaq added 1.8 percent to 2,018.78.

Wall Street will reopen on Tuesday.

Oil prices were up, with benchmark crude for October delivery up 15 cents at $68.17, as investors looked to this week's OPEC meeting for a possible change in the cartel's production. The contract rose 6 cents Friday to settle at $68.02.

The dollar slipped to 92.82 yen from 92.95 yen Friday night, while the euro rose to $1.4337 from $1.4309.

Associated Press writer Jeremiah Marquez in Hong Kong contributed to this report.

 

[bigdog]

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

Thanks to broad-based buying, the S&P 500 made solid gains in its first trading session of the week, but the broad market benchmark encountered resistance as it approached last week's highs. Still, stocks settled near their best levels of the session.

Rising commodity prices and stirrings of corporate takeovers are making investors more optimistic about the economy.

Stocks rose for the third straight day Tuesday following gains among materials and energy stocks.

Gold topped $1,000 an ounce for the first time since February and oil jumped more than $3 a barrel as investors look for more ways to profit from an improving economy. A weaker dollar also helped push commodity prices higher.

The NYSE DOW closed HIGHER +56.07points +0.59% on Tuesday September 8
Sym Last........ ........Change..........
Dow 9,497.34 +56.07 +0.59%
Nasdaq 2,037.77 +18.99 +0.94%
S&P 500 1,025.39 +8.99 +0.88%
30-yr Bond 4.3110% +0.0380

NYSE Volume 5,985,933,000 (prior day 4,756,504,000)
Nasdaq Volume 2,030,111,500 (prior day 1,742,961,000)

Gold 945.00 -0.50 -0.05%
Oil 71.36 +3.34 +4.91%

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,947.34 +14.16 +0.29%
DAX 5,481.73 +18.22 +0.33%
CAC 40 3,660.96 +8.13 +0.22%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,393.23 +72.29 +0.70%
Hang Seng 21,069.81 +440.50 +2.14%
Straits Times 2,654.54 +10.59 +0.40%


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

Stocks gain on rising commodities, takeover news

Stocks climb as traders see gains in commodities, rise in takeover activity as promising signs
By Tim Paradis, AP Business Writer
On Tuesday September 8, 2009, 4:48 pm EDT

NEW YORK (AP) -- Rising commodity prices and stirrings of corporate takeovers are making investors more optimistic about the economy.

Stocks rose for the third straight day Tuesday following gains among materials and energy stocks.

Gold topped $1,000 an ounce for the first time since February and oil jumped more than $3 a barrel as investors look for more ways to profit from an improving economy. A weaker dollar also helped push commodity prices higher.

Talk of a revival in corporate dealmaking also lifted investors' confidence.

A takeover bid from Kraft Foods Inc. for rival Cadbury -- even though Cadbury rejected it -- combined with a big phone deal in England lifted hopes that takeover activity could be picking up. Deutsche Telekom and France Telecom said they planned to combine their British mobile phone units to form that country's biggest mobile operator.

A weekend pledge by the world's 20 biggest economies to support the global recovery with stimulus efforts also helped keep the market's tone positive.

George F. Shipp, chief investment officer at Scott & Stringfellow in Virginia Beach, Va., said U.S. markets are advancing in part to catch up with overseas trading after the Labor Day holiday in the U.S. He also said the takeover talk surrounding Cadbury underscores the fact that some companies are faring better than others.

"Some companies are doing reasonably well," Shipp said. "Chocolate is less susceptible to whatever is going to happen in mortgages and banking and unemployment."

According to preliminary calculations, the Dow Jones industrial average rose 56.07, or 0.6 percent, to 9,497.34. The broader Standard & Poor's 500 index rose 8.99, or 0.9 percent, to 1,025.39, and the Nasdaq composite index rose 18.99, or 0.9 percent, to 2,037.77.

Bond prices fell, pushing yields higher. The yield on the 10-year Treasury note rose to 3.48 percent from 3.45 percent late Friday.

The dollar fell against other major currencies and gold -- which is typically bought as a safe haven asset -- at times topped $1,000 an ounce before settling just short of that mark.

Crude oil rose $3.08 to settle at $71.10 a barrel on the New York Mercantile Exchange.

Tom Phillips, president of TS Phillips Investments in Oklahoma City, said investors are buying gold because they are nervous about the economy and rising deficits but don't want to miss more gains in the stock market. The S&P 500 index has jumped 50 percent from a 12-year low in early March.

"It is a flight to safety. It's kind of like everyone is hedging their bets. They want to be in the market because they don't want to miss out, but they're spooked," he said.

Freeport-McMoRan Copper & Gold Inc. rose $2, or 3 percent, to $68, while oilfield services company Schlumberger Ltd. rose $2.23, or 4 percent, to $58.10.

Meanwhile, General Electric Co. led the 30 stocks that make up the Dow industrials, rising 63 cents, or 4.5 percent, $14.50, after J.P. Morgan upgraded the company's shares saying that the market had already priced in most problems with the conglomerate's lending arm.

Among stocks moving on takeover talk, Cadbury jumped $14.42, or 38.5 percent, to $51.88. Kraft fell $1.65, or 5.9 percent, to $26.45.

The Russell 2000 index of smaller companies rose 5.88, or 1 percent, to 576.38.

Three stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.3 billion shares compared with 1 billion traded Friday.

Britain's FTSE 100 and Germany's DAX index rose 0.3 percent, while France's CAC-40 advanced 0.2 percent. Japan's Nikkei stock average rose 0.7 percent.

 

[bigdog]

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

The major indices started the session with modest losses, but that was met by buyers looking to extend the stock market's recent gains. Stocks did hand back a chunk of their gains following a disappointing Fed Beige Book, but participants shrugged off the commentary and pushed stocks broadly higher into the close.

The stock market extended its gains to a fourth day as the Federal Reserve said the economy was stabilizing.

Industrial and financial stocks led the advance Wednesday, which lifted the Dow Jones industrial average 50 points by the closing bell, having been up 80 points earlier.

Stocks briefly surrendered their gains following the release of the Fed's report on regional economies, which also found that consumer spending would rise but only because of car purchases linked to the government's brief Cash for Clunkers program.

The NYSE DOW closed HIGHER +49.88 points +0.53% on Wednesday September 9
Sym Last........ ........Change..........
Dow 9,547.22 +49.88 +0.53%
Nasdaq 2,060.39 +22.62 +1.11%
S&P 500 1,033.37 +7.98 +0.78%
30-yr Bond 4.3350% +0.0240

NYSE Volume 5,898,655,000 (prior day 5,985,933,000)
Nasdaq Volume 2,504,449,750 (prior day 2,030,111,500)

Gold 945.00 -0.50 -0.05%
Oil 71.69 +0.59 +0.83%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,004.30 +56.96 +1.15%
DAX 5,574.26 +92.53 +1.69%
CAC 40 3,707.69 +46.73 +1.28%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,312.14 -81.09 -0.78%
Hang Seng 20,851.04 -218.77 -1.04%
Straits Times 2,650.48 -10.43 -0.39%

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

Industrials, financials pull stock market higher

Gains in industrial and financial stocks pull market to 4th straight advance; Dow adds 50
By Tim Paradis, AP Business Writer
On Wednesday September 9, 2009, 4:38 pm EDT

NEW YORK (AP) -- The stock market extended its gains to a fourth day as the Federal Reserve said the economy was stabilizing.

Industrial and financial stocks led the advance Wednesday, which lifted the Dow Jones industrial average 50 points by the closing bell, having been up 80 points earlier.

Stocks briefly surrendered their gains following the release of the Fed's report on regional economies, which also found that consumer spending would rise but only because of car purchases linked to the government's brief Cash for Clunkers program.

The prolonged slump in consumer spending has been one of the most serious points of worry for economists, and the Fed's warning about it deflated some of the market's optimism. About 70 percent of the U.S. economy depends on spending by consumers.

Matt Lloyd, chief investment strategist at Advisors Asset Management, said investors were jittery following the Fed's report because many traders are fearful of a correction following a 50 percent surge in the market over the past six months.

"To me there is no conviction" behind the market's recent gains, Lloyd said.

According to preliminary calculations, the Dow rose 49.88, or 0.5 percent, to 9,547.22. The index has added 267 points, or 2.9 percent, in four days.

The broader Standard & Poor's 500 index gained 7.98, or 0.8 percent, to 1,033.37, while the Nasdaq composite rose 22.62, or 1.1 percent, to 2,060.39.

The Russell 2000 index of smaller companies rose 10.02, or 1.7 percent, to 586.40.

Advancing stocks outpaced those that fell by about 5-to-2 on the New York Stock Exchange, where volume came to 1.2 billion shares compared with 1.3 billion Tuesday.

Jeff Kleintop, chief market strategist at LPL Financial Services, said a break in the rally could be good for the market to keep stocks from racing too high, too quickly.

"I think we're maybe due for a little bit of consolidation," he said.

Kleintop also contends that economic readings are becoming a less powerful force on the market as more investors begin to expect an improvement in the economy.

"Economic data has lost a lot of its power to really move the market around. The consensus has now become we're in a recovery."

Light, sweet crude rose 20 cents to settle at $71.31 per barrel on the New York Mercantile Exchange. Gold fell but still hovered near $1,000 after crossing that mark Tuesday for the first time since February.

Industrial shares were the biggest gainers, as investors bet that higher commodity prices will translate to increased profits if the economy strengthens. The weaker dollar also makes the goods of U.S. exporters cheaper outside the U.S.

Caterpillar Inc. was among the strongest advancers of the 30 stocks that make up the Dow industrials. Shares of the maker of construction and mining equipment rose $1.44, or 3.1 percent, to $48.41.

Airplane maker Boeing Co. rose $1.03, or 2.1 percent, to $50.53, while General Electric Co. rose 37 cents, or 2.6 percent, to $14.87.

Aircraft maker Textron Inc. rose 43 cents, or 2.4 percent, to $18.41 after the company said it would leave its 2009 profit forecast unchanged.

Bond prices mostly rose. The yield on the benchmark 10-year Treasury note was flat at 3.48 percent from late Tuesday.

Haag Sherman, chief investment officer at Salient Partners in Houston, said investors' demand for stronger returns is weighing on the dollar, though he notes that the 10-year Treasury note has held its ground as some investors remain skeptical about a rebound in the economy.

"The 10-year really hasn't been punished as much lately. I think there is a tug-of-war between the equity and the bond market."

Overseas, Japan's Nikkei stock average fell 0.8 percent. Britain's FTSE 100 rose 1.2 percent, Germany's DAX index rose 1.7 percent, and France's CAC-40 advanced 1.3 percent.

 

[bigdog]

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

Continued interest among buyers helped stocks overcome a sluggish start, but it took results from the latest Treasury auction and comments from Treasury Secretary Geithner to lift stocks to fresh highs for 2009. The bullish bias remained intact into the close and helped stocks settle at session highs.

Investors poured money into stocks for a fifth day after a drop in weekly unemployment claims and a spike in oil raised hopes for the economy.

The Dow Jones industrial average rose 80 points Thursday to its highest close since November. The index is up 347 points in five days, its longest winning streak since last fall.

The gains have come even as analysts say the market is overdue for a retreat. The advance followed the Labor Department's report that jobless claims fell more than expected to 550,000 last week. A jump in oil lifted energy companies and an upbeat forecast from consumer products maker Procter & Gamble Co. added to enthusiasm about an economic recovery.

The NYSE DOW closed HIGHER +80.26 points +0.84% on Thursday September 10
Sym Last........ ........Change..........
Dow 9,627.48 +80.26 +0.84%
Nasdaq 2,084.02 +23.63 +1.15%
S&P 500 1,044.14 +10.77 +1.04%
30-yr Bond 4.1750% -0.1600

NYSE Volume 6,162,512,000 (prior day 5,898,655,000)
Nasdaq Volume 2,490,368,000 (prior day 2,504,449,750)

Gold 945.00 -0.50 -0.05%
Oil 72.10 +0.79 +1.11%

Europe
Symbol... Last...... .....Change.......
FTSE 100 4,987.68 -16.62 -0.33%
DAX 5,594.77 +20.51 +0.37%
CAC 40 3,705.87 -1.82 -0.05%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,513.67 +201.53 +1.95%
Hang Seng 21,069.56 +218.52 +1.05%
Straits Times 2,682.02 +31.54 +1.19%

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

Stocks extend gains to 5 days after jobs report

Stocks rise for 5th day after slight improvement in jobless claims; Dow climbs 80 points
By Tim Paradis, AP Business Writer
On Thursday September 10, 2009, 5:04 pm EDT

NEW YORK (AP) -- Investors poured money into stocks for a fifth day after a drop in weekly unemployment claims and a spike in oil raised hopes for the economy.

The Dow Jones industrial average rose 80 points Thursday to its highest close since November. The index is up 347 points in five days, its longest winning streak since last fall.

The gains have come even as analysts say the market is overdue for a retreat. The advance followed the Labor Department's report that jobless claims fell more than expected to 550,000 last week. A jump in oil lifted energy companies and an upbeat forecast from consumer products maker Procter & Gamble Co. added to enthusiasm about an economic recovery.

Momentum grew in midafternoon as Treasury Secretary Timothy Geithner told a Congressional panel that confidence and stability were returning to the economy after the panic that began a year ago.

Some pieces of bad news held back certain shares but didn't get in the way of a broad market advance. Agricultural company Monsanto Co. warned that its 2009 earnings would come in at the low end of its forecast and said it would cut more jobs than previously announced.

Investors voiced concerns about the pace of the gains but few wanted to stand in the way of a market that was carving its way higher. The Standard & Poor's 500 index has risen 54.3 percent since hitting a 12-year low in March. It is sitting at an 11-month high, though it's still down 33.3 percent from its peak in October 2007.

Ralph Fogel, co-chief investment officer at Fogel Neale Partners in New York, argues that too many analysts are now expecting a pullback for it to actually happen. He pointed to a well-tested piece of Wall Street wisdom that if a certain prediction becomes too widely expected in the marketplace, that conclusion is often wrong.

"I'm not sure why sure this market is going to slow up so much," Fogel said. "We look for a nice continued move upward."

According to preliminary calculations, the Dow rose 80.26, or 0.8 percent, to 9,627.48 to its highest close since Nov. 3, when it ended at 9,319.83.

The broader S&P 500 index rose 10.77, or 1 percent, to 1,044.14. The index hasn't risen five straight days since a streak that ended Nov. 28.

The Nasdaq composite index rose 23.63, or 1.2 percent, to 2,084.02.

Bond prices jumped after a $12 billion auction of 30-year Treasury notes drew strong demand. The yield on the benchmark 10-year Treasury note fell to 3.36 percent from 3.48 percent late Wednesday. The yield on the 30-year bond fell to 4.20 percent from 4.33 percent.

Investors made selective bets on companies following a mixed batch of corporate forecasts. P&G rose $2.28, or 4.2 percent, to $56.04, while Monsanto fell $4.18, or 5 percent, to $79.30.

Some analysts remain cautious. Subodh Kumar, global investment strategist at Subodh Kumar & Associates in Toronto, contends that the market has gone too far without a break.

"The fact that it got here without any meaningful corrections means it hasn't stopped since March to test the validity of its assumptions," he said.

Three stocks rose for every one that fell on the New York Stock Exchange, where volume came to 813.5 million shares compared with 875.3 million at the same point Wednesday.

The Russell 2000 index of smaller companies rose 8.50, or 1.5 percent, to 594.90.

The dollar fell against other major currencies. Gold slipped.

Light, sweet crude rose 63 cents to $71.94 a barrel on the New York Mercantile Exchange.

Overseas, Britain's FTSE 100 fell 0.3 percent, Germany's DAX index rose 0.4 percent, and France's CAC-40 fell 0.1 percent. Japan's Nikkei stock average rose 2 percent.

 

[bigdog]

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

The Dow Jones industrial average closed the week up 164.14, or 1.7 percent, at 9,605.41. The Standard & Poor's 500 index rose 26.33, or 2.6 percent, to 1,042.73. The Nasdaq composite index rose 62.12, or 3.1 percent, to 2,080.90.

Though stocks slipped for their first time in six sessions to finish the week in unimpressive fashion, stocks were still able to log their best weekly gain since July by advancing 2.6% in this holiday-shortened week of trade.

Stocks initially looked as if they would extend recent gains as they made their way to new intraday highs for 2009, but the largely listless trade in the early going made for choppy trade, which then invoked moderate selling pressure.

Investors pulled money out of stocks after a five-day rally left the market at its highest levels in nearly a year.

Even with the latest surge, stocks have little to show for the past decade. Eight years to the day after the 9/11 terror attacks, the Dow Jones industrial average finished within one-tenth of a point where it ended on Sept. 10, 2001, illustrating how hard markets have been hit by the recession.

Stocks slipped in quiet trading Friday after the recent string of gains and a drop in oil prices. Crude slid 3.7 percent, which hurt energy stocks like Exxon Mobil Corp. That overshadowed a rosier profit forecast from FedEx Corp. and a government report on improving sales at wholesalers.

The NYSE DOW closed LOWER -22.07 points -0.23% on Friday September 11
Sym Last........ ........Change..........
Dow 9,605.41 -22.07 -0.23%
Nasdaq 2,080.90 -3.12 -0.15%
S&P 500 1,042.73 -1.41 -0.14%
30-yr Bond 4.1750% 0.0000

NYSE Volume 5,661,965,500 (prior day 6,162,512,000)
Nasdaq Volume 2,342,681,500 (prior day 2,490,368,000)

Oil 69.12 -2.82 -3.92%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,011.47 +23.79 +0.48%
DAX 5,624.02 +29.25 +0.52%
CAC 40 3,734.89 +29.02 +0.78%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,444.33 -69.34 -0.66%
Hang Seng 21,161.42 +91.86 +0.44%
Straits Times 2,681.03 -0.99 -0.04%

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

Stocks slide after 5 days of gains as oil falls

Stocks slip as lower oil helps break 5-day rally; Dow ends where it stood ahead of 9/11 attack
By Tim Paradis, AP Business Writer
On Friday September 11, 2009, 5:59 pm EDT

NEW YORK (AP) -- Investors pulled money out of stocks after a five-day rally left the market at its highest levels in nearly a year.

Even with the latest surge, stocks have little to show for the past decade. Eight years to the day after the 9/11 terror attacks, the Dow Jones industrial average finished within one-tenth of a point where it ended on Sept. 10, 2001, illustrating how hard markets have been hit by the recession.

Stocks slipped in quiet trading Friday after the recent string of gains and a drop in oil prices. Crude slid 3.7 percent, which hurt energy stocks like Exxon Mobil Corp. That overshadowed a rosier profit forecast from FedEx Corp. and a government report on improving sales at wholesalers.

Even with the losses, stocks still logged big gains for the week.

The forecast from FedEx is important because its delivery business is seen as an indicator of how healthy the economy is. FedEx cited stronger international shipments and cost-cutting for the improvement. Investors track demand at industrial companies because rising orders would be one of the first signals that the economy is strengthening.

Separately, the Commerce Department reported that sales at the wholesale level rose in July by the biggest amount in more than a year, even though inventories fell for a record 11th straight month.

The gains in industrial stocks came at the expense of areas that have been leaders in the market's six-month rally such as technology and financial shares.

"The market always overshoots on either side. I think we're at the point in the move where we need to see the fundamentals catch up to support these levels," said Sean Simko, head of fixed income management at SEI Investments in Oaks, Pa. "In the short-term, the market is going to take a little breather."

The Dow Jones industrial average fell 22.07, or 0.2 percent, to 9,605.41. The index closed Thursday at its highest level since October. Because of the steep slide that began in the fall of 2007, stocks are still stuck at about the same level they were at eight years ago. On Sept. 10, 2001, the Dow ended at 9,605.51; that is nearly identical to Friday's close of 9,605.41.

The broader Standard & Poor's 500 index fell 1.41, or 0.1 percent, to 1,042.73, and the Nasdaq composite index fell 3.12, or 0.2 percent, to 2,080.90.

About four stocks rose for every three that fell on the New York Stock Exchange, where consolidated volume came to 5 billion shares, compared with 5.4 billion Thursday.

For the week, the Dow rose 1.7 percent, the S&P 500 index added 2.6 percent and the Nasdaq rose 3.1 percent.

Meanwhile, gold again rose above $1,000 to its highest level since February.

Frank Haines, chief investment officer at Christian Brothers Investment Services in New York, contends investors have been overlooking problems that remain in the economy such as bad debt.

"The stock rally we've had has been lead by some of the weakest companies out there," Haines said, pointing to financials and home builders.

The S&P 500 index is up 54.1 percent since hitting a 12-year low in March, although it is still down 33.4 percent from its peak in October 2007.

Rising commodity prices and signs of life in corporate dealmaking pushed stocks higher during the week, which was made shorter by the Labor Day holiday. Investors rising commodities prices as a signal that industrial activity could be picking up. Kraft Foods Inc.'s thus-far unsuccessful bid for rival Cadbury PLC this week was also seen as a sign of growing confidence among U.S. companies.

A rush of economic data next week could help investors determine whether the expected economic rebound is on track. Reports are due on retail sales, industrial production, housing and inflation. Analysts will be paying particular attention to reports on retailers because consumer spending accounts for about 70 percent of U.S. economic activity. Any rebound in the economy will have to be accompanied by a greater flow of money into cash registers.

Bond prices were mixed after spiking Thursday when a government debt auction produced strong demand. The yield on the benchmark 10-year Treasury note was flat at 3.35 percent from late Thursday.

Light, sweet crude fell $2.65 to settle at $69.29 a barrel on the New York Mercantile Exchange.

The slide in oil hurt some energy stocks, which supported the market for much of the week. Exxon Mobil fell 67 cents, or 1 percent, to $69.98.

FedEx jumped $4.66, or 6.4 percent, to $77.32 after raising its forecast.

Electronics retailer Best Buy Co. fell $1.29, or 3.1 percent, to $39.76 after an Oppenheimer analyst lowered his rating on the stock, noting it has been trading near the top of their 52-week range.

The Russell 2000 index of smaller companies fell 1.31, or 0.2 percent, to 593.59.

Overseas, Britain's FTSE 100 rose 0.5 percent, Germany's DAX index gained 0.5 percent, and France's CAC-40 rose 0.8 percent. Japan's Nikkei stock average fell 0.7 percent.

The Dow Jones industrial average closed the week up 164.14, or 1.7 percent, at 9,605.41. The Standard & Poor's 500 index rose 26.33, or 2.6 percent, to 1,042.73. The Nasdaq composite index rose 62.12, or 3.1 percent, to 2,080.90.

The Russell 2000 index, which tracks the performance of small company stocks, rose 23.09, or 4.1 percent, for the week to 593.59.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 10,752.29, up 300.82, or 2.9 percent.
429

 

[bigdog]

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

Weakness overseas and concerns regarding trade with China weighed on sentiment in the early going, but stocks worked their way out of negative territory to finish the session at fresh highs for 2009.

The stock market started the session with a loss of roughly 0.7% as several major foreign markets were knocked lower by profit takers. The case for paring positions also seemed appropriate since it appeared that the major U.S. indices were losing momentum after slipping from 2009 highs last Friday to log a loss and finish last week on a down note. Participants were also a bit unsettled by news that China's trade officials have threatened to restrict chicken and auto product imports from the U.S. in response to the decision by U.S. officials to place punitive sanctions on Chinese tire imports. Goodyear Tire (GT 17.78, +0.51) and Cooper Tire (CTB 15.60, +1.03) were helped by the story, but Sanderson Farms (SAFM 40.01, -0.28) and Tyson Foods (TSN 12.45, -0.30) were hurt.

Stocks clawed back from early losses to post moderate gains as traders funneled money into utilities and industrial stocks.

Major market indexes ended at their highest levels in nearly a year.

The market sold off at the open following a drop in overseas markets on worries that a trade war would erupt between the U.S. and China. But stocks began to recover from an early dip that sent the Dow Jones industrial average down 100 points as investors seized on the dip to inject new money into the market. The Dow ended with a gain of 21 points.

The NYSE DOW closed HIGHER +21.39 points +0.22% on Monday September 14
Sym Last........ ........Change..........
Dow 9,626.80 +21.39 +0.22%
Nasdaq 2,091.78 +10.88 +0.52%
S&P 500 1,049.34 +6.61 +0.63%
30-yr Bond 4.2150% +0.0400

NYSE Volume 5,524,709,500 (prior day 5,661,965,500)
Nasdaq Volume 2,175,931,500 (prior day 2,342,681,500)

Oil 68.87 -0.42 -0.61%


Europe
Symbol... Last...... .....Change.......
FTSE 100 5,018.85 +7.38 +0.15%
DAX 5,620.24 -3.78 -0.07%
CAC 40 3,730.61 -4.28 -0.11%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,202.06 -242.27 -2.32%
Hang Seng 20,932.20 -229.22 -1.08%
Straits Times 2,639.74 -41.29 -1.54%

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

Industrials, utilities pull stocks higher

Stocks reverse early slide as investors put money into industrial, utilities; Dow adds 21
By Stephen Bernard and Tim Paradis, AP Business Writers
On Monday September 14, 2009, 4:25 pm EDT

NEW YORK (AP) -- Stocks clawed back from early losses to post moderate gains as traders funneled money into utilities and industrial stocks.

Major market indexes ended at their highest levels in nearly a year.

The market sold off at the open following a drop in overseas markets on worries that a trade war would erupt between the U.S. and China. But stocks began to recover from an early dip that sent the Dow Jones industrial average down 100 points as investors seized on the dip to inject new money into the market. The Dow ended with a gain of 21 points.

Utility AES Corp. helped pull the market higher after The Wall Street Journal reported that China's investment arm is interested in buying a stake in the company.

Analysts said the day's modest gains were impressive after a strong run last week and as a continuation of a powerful six-month rally that has lifted the Standard & Poor's 500 index 55.1 percent.

"We open lower and buyers seem to chip away, and we climb higher," he said. "It's somewhat healthy that we're rallying this way -- slowly."

According to preliminary calculations, the Dow rose 21.39, or 0.2 percent, to 9,626.80. It had been down about 109 points at its low. The broader Standard & Poor's 500 index rose 6.61, or 0.6 percent, to 1,049.34, an 11-month high. The Nasdaq composite index rose 10.88, or 0.5 percent, to 2,091.78.

The trading came in sharp contrast to the tumult of a year ago, when the collapse of Lehman Brothers Holdings Inc. sent the Dow Jones industrial average down 500 points in one day and jammed the credit markets that power the world's economies. The S&P 500 index is still down 16.2 percent from that time and 33 percent from its peak in October 2007.

Traders reacted coolly to a speech across the street from the New York Stock Exchange from President Barack Obama, who warned the financial industry against repeating the recklessness that led to collapse of Lehman Brothers.

Richard Ross, global technical strategist at Auerbach Grayson in New York, said the economy still face obstacles but that the market could extend its recovery because investors are far more optimistic than when stocks skidded to 12-year lows in early March.

"Questions remain but a lot of the uncertainty has largely been removed. That sort of dooms day scenario has been taken off the table," he said. "We're striking a much healthier balance between greed and fear."

 

[bigdog]

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

Despite stumbling in the early going, stocks worked their way higher to log their seventh gain in eight sessions as buyers chased materials stocks and basic commodities.

The major indices started the session in higher ground with help from the August Producer Price Index, which came in with a greater-than-expected 1.7% month-over-month increase, and a stronger-than-expected 0.2% month-over-month increase in core prices. The Empire State Manufacturing Survey for September climbed more than expected to 18.9, which is a new best for 2009, but the advance retail sales report for August was the headliner after it made the sharpest monthly jump in more than three years by climbing a better-than-expected 2.7%. Sales less autos were also better than expected; they increased 1.1%.

Better news on retail sales and manufacturing helped send stocks higher Tuesday, as did comments from Federal Reserve Chairman Ben Bernanke that the recession was probably over.

Surging materials and industrial companies like Alcoa and Caterpillar pulled the Dow Jones industrial average to a gain of 57 points, its seventh climb in eight days and another high for the year. Manufacturers are expected to be among the early beneficiaries if the economy strengthens and demand picks up.

Hopes for a rebound grew after the government reported that retail sales jumped in August by the biggest amount in three years. The Fed's index of manufacturing in the New York region rose to its best level since late 2007.

The NYSE DOW closed HIGHER +56.61 points +0.59% on Tuesday September 15
Sym Last........ ........Change..........
Dow 9,683.41 +56.61 +0.59%
Nasdaq 2,102.64 +10.86 +0.52%
S&P 500 1,052.63 +3.29 +0.31%
30-yr Bond 4.2620% +0.0470

NYSE Volume 7,058,189,500 (prior day 5,524,709,500)
Nasdaq Volume 2,399,406,500 (prior day 2,175,931,500)

Oil 70.43 -0.50 -0.70%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,042.13 +23.28 +0.46%
DAX 5,628.98 +8.74 +0.16%
CAC 40 3,752.21 +21.60 +0.58%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,217.62 +15.56 +0.15%
Hang Seng 20,866.37 -65.83 -0.31%
Straits Times 2,638.40 -1.34 -0.05%

http://finance.yahoo.com/news/Stocks-rise-on-retail-sales-apf-3882376104.html?x=0

Stocks rise on retail sales, manufacturing data

Stocks gain as retail sales jump by biggest amount in 3 years; manufacturing improves
By Tim Paradis, AP Business Writer
On Tuesday September 15, 2009, 5:49 pm EDT

NEW YORK (AP) -- Better news on retail sales and manufacturing helped send stocks higher Tuesday, as did comments from Federal Reserve Chairman Ben Bernanke that the recession was probably over.

Surging materials and industrial companies like Alcoa and Caterpillar pulled the Dow Jones industrial average to a gain of 57 points, its seventh climb in eight days and another high for the year. Manufacturers are expected to be among the early beneficiaries if the economy strengthens and demand picks up.

Hopes for a rebound grew after the government reported that retail sales jumped in August by the biggest amount in three years. The Fed's index of manufacturing in the New York region rose to its best level since late 2007.

That upbeat economic news helped allay concerns about a separate government report finding that inflation at the wholesale level rose last month at double the rate analysts expected.

Meanwhile, Bernanke cheered investors by saying that the worst recession since the 1930s has "very likely" ended, though he cautioned that problems like high unemployment will remain.

Investors have been betting on a recovery. The Standard & Poor's 500 index, the benchmark for many mutual funds, has surged 55.6 percent since skidding to a 12-year low in March.

Stocks zigzagged in morning trading before gaining steam in the afternoon, similar to the way trading played out Monday. Analysts say the slow-building advances are a sign that investors are pouncing on dips to get into the rally.

The short bouts of selling have meant the market has risen without the sizable break, which many analysts still say is overdue. Even when the news isn't good, market sentiment seems immune to developments that would have punctured the rally only months ago.

Investors shrugged off news that wholesale prices rose 1.7 percent last month, and disappointing earnings from two major retailers, Best Buy Co. and Kroger Co., also failed to push the stock market off course.

"You want to say that the market is a little bit tired after the run we've had yet we continue to grind higher," said Ryan Larson, senior equity trader at Voyageur Asset Management.

The Dow rose 56.61, or 0.6 percent, to 9,683.41, its highest close since Oct. 6, when it finished at 9,956.

The S&P 500 index rose 3.29, or 0.3 percent, to 1,052.63, while the Nasdaq composite index rose 10.86, or 0.5 percent, to 2,102.64. All three indicators are at their highest levels for 2009.

More than two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 6.3 billion shares compared with 4.9 billion Monday.

The government's report that retail sales jumped 2.7 percent in August boosted confidence in the economy. Analysts say improvements in consumer spending are crucial to a recovery.

Even after stripping out the sizable gains from the government's popular Cash for Clunkers program, sales rose 1.1 percent, well beyond the rise of 0.4 percent expected by analysts.

Commodity and industrial stocks rose as a weaker dollar pushed up materials prices. Alcoa Inc. added $1.05, or 8.1 percent, to $13.99. Caterpillar Inc. rose $2.93, or 6 percent, to $51.70.

Gregg S. Fisher, chief investment officer at financial advisory firm Gerstein Fisher in New York, said that despite the recent gains investors could still run into trouble.

"Investors are always following the herd. I think investors should sort of catch themselves now and not get overconfident," he said.

The market's latest gains came one year after the Dow tumbled 500 points following the collapse of Lehman Brothers Holdings Inc., which deepened the recession.

In other trading, bond prices fell. The yield on the benchmark 10-year Treasury note rose to 3.46 percent from 3.43 percent late Monday.

Crude oil rose $2.07 to settle at $70.93 a barrel on the New York Mercantile Exchange. Gold also rose after the report on inflation. The metal is often used as a hedge against rising prices.

The Russell 2000 index of smaller companies rose 4.81, or 0.8 percent, to 604.84.

Overseas, Britain's FTSE 100 rose 0.5 percent, Germany's DAX index rose 0.2 percent, and France's CAC-40 added 0.6 percent. Japan's Nikkei stock average rose 0.2 percent.

 

[bigdog]

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

Continued buying helped the stock market march higher for the third straight session. More impressive was that steady momentum helped stocks close the session at new highs for the year.

The latest leg of the stock market's run came with broad-based support and gave the S&P 500 its best single-session gain in nearly one month.

Investors barreled into stocks Wednesday after an upbeat report on industrial production raised hopes that the economy is strengthening.

The Dow Jones industrial average rose 108 points to another high for the year as General Electric Co. and International Business Machines Corp. jumped. It was the market's eighth gain in nine days.

The promising report from the Federal Reserve on industrial production came a day after Fed Chairman Ben Bernanke said that the recession was likely over. Investors have been scooping up stocks for six months in anticipation of a rebound in the economy.

The NYSE DOW closed HIGHER +108.30 points +1.12% on Wednesday September 16
Sym Last........ ........Change..........
Dow 9,791.71 +108.30 +1.12%
Nasdaq 2,133.15 +30.51 +1.45%
S&P 500 1,068.76 +16.13 +1.53%
30-yr Bond 4.2660% +0.0040

NYSE Volume 7,837,031,500 (prior day 7,058,189,500)
Nasdaq Volume 2,793,902,750 (prior day 2,399,406,500)

Oil 72.27 -0.24 -0.33%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,124.13 +82.00 +1.63%
DAX 5,700.26 +71.28 +1.27%
CAC 40 3,813.79 +61.58 +1.64%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,270.77 +53.15 +0.52%
Hang Seng 21,402.92 +536.55 +2.57%
Straits Times 2,674.42 +36.02 +1.37%

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

Stocks jump as industrial production rises

Stocks extend rally to 3rd day following growth in industrial production; Dow jumps 108 points
By Tim Paradis, AP Business Writer
On Wednesday September 16, 2009, 5:40 pm EDT

NEW YORK (AP) -- Investors barreled into stocks Wednesday after an upbeat report on industrial production raised hopes that the economy is strengthening.

The Dow Jones industrial average rose 108 points to another high for the year as General Electric Co. and International Business Machines Corp. jumped. It was the market's eighth gain in nine days.

The promising report from the Federal Reserve on industrial production came a day after Fed Chairman Ben Bernanke said that the recession was likely over. Investors have been scooping up stocks for six months in anticipation of a rebound in the economy.

The central bank's report that industrial activity surged 0.8 percent in August topped expectations. The Fed also said the improvement in industrial production for July was twice what it had initially reported.

The report and rising commodity prices lifted shares of manufacturing companies like aluminum producer Alcoa Inc.

Other big gains came from financial stocks, which have been building momentum as they push above certain price levels watched by traders. GE, which has a large financial arm and often trades like a bank stock, jumped for a third day. American Express Co. and JPMorgan Chase & Co. rose more than 3 percent.

Money has been flowing into stocks as some professional investors rush to keep with the market's gains and fear being left behind.

"People are looking to play catch-up at this point," said Christian Bendixen, director of technical research at Bay Crest Partners LLC in New York.

The Dow rose 108.30, or 1.1 percent, to 9,791.71, its highest close since Oct. 6, when it ended at 9,956. The index is now up 11.6 percent for the year.

The broader Standard & Poor's 500 index rose 16.13, or 1.5 percent, to 1,068.76, while the Nasdaq composite index rose 30.51, or 1.5 percent, to 2,133.15.

The advance comes even as analysts warn that stocks are due for a correction. The S&P 500 index, the benchmark for many mutual funds, has surged 58 percent since it tumbled to a 12-year low in early March. Extended ascents tend to spook investors, who see it as a sign of indiscriminate buying.

Peter Schwartz, principal at Gregory J. Schwartz & Co. in Bloomfield Hills, Mich., expects stocks will rise but not without interruptions. "We can't have this trajectory for perpetuity without speed bumps along the way," he said.

Jason Pride, director of research Haverford Investments in Radnor, Pa., would like to see more moderate gains but said the nature of markets is to overdo it. "The market can extend its speculation surrounding this economic rebound much longer than people expect," he said.

GE jumped $1, or 6.3 percent, to $17, extending its gain for the week and erasing its loss for the year. The company plans to update analysts on its business Thursday. IBM, which carries more weight in the Dow because of its higher stock price, rose $2.47, or 2.1 percent, to $121.82, its best close of the year.

Alcoa rose 48 cents, or 3.4 percent, to $14.47 after the report on industrial production.

Health insurers rose after Sen. Max Baucus of Montana introduced a Finance Committee version of a bill to revamp the nation's health care system. It would require most people to purchase insurance coverage and prevent insurance companies from charging more to people with more serious health problems.

UnitedHealth Group Inc. rose $1.59, or 5.7 percent, to $29.29, while Humana Inc. advanced $1.89, or 4.9 percent, to $40.67.

Home builder stocks surged after a builder confidence index from the National Association of Home Builders rose for the third straight month. Beazer Homes USA Inc. jumped 60 cents, or 14.2 percent, to $4.83 and Hovnanian Enterprises Inc. rose 41 cents, or 10.3 percent, to $4.41.

Newspaper stocks rose following a report from a market research company that signaled advertising spending wasn't eroding as quickly as it had been.

Gannett Co., the publisher of USA Today and other papers, advanced 93 cents, or 10.3 percent, to $9.99. The New York Times Co. rose 94 cents, or 11.9 percent, to $8.82.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note rose to 3.48 percent from 3.46 late Tuesday.

The dollar extended its slide and commodities, including gold, rose. Commodities are priced in dollars and become less expensive when the dollar weakens.

Oil advanced after the government reported a large drop in crude supplies. Light, sweet crude rose $1.58 to settle at $72.51 per barrel on the New York Mercantile Exchange.

Five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.6 billion shares compared with 1.5 billion Tuesday.

The Russell 2000 index of smaller companies rose 12.54, or 2.1 percent, to 617.38.

Overseas, Britain's FTSE 100 gained 1.6 percent, Germany's DAX index rose 1.3 percent, and France's CAC-40 rose 1.6 percent. Japan's Nikkei stock average rose 0.5 percent.

 

[bigdog]

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

Participants sold the news of a better-than-expected batch of economic reports and handed stocks their first loss in four sessions. Losses were rather contained, though, as stocks are still up more than 2% week-to-date.

Despite stumbling a bit in the moments following the opening bell, stocks looked as if they were going to extend their recent gains. That is until the Philadelphia Fed Index for September showed that it hit a two-year high of 14.1, which was better than expected. Rather than provide fodder for further buying, the data prompted selling pressure as participants looked to lock in profits after they had watched stocks advance in eight of the previous nine sessions.

A surprise drop in unemployment claims couldn't fuel another day of gains for the stock market.

Stocks posted modest losses in quiet trading Thursday after a three-day advance. Traders found little in the weekly employment data, or in reports on housing and manufacturing, to provide new encouragement about an economic recovery. Stocks surrendered early gains around midday and the Dow Jones industrial average ended with a loss of 8 points.

Lackluster earnings reports from FedEx Corp. and Oracle Corp. added to investors' caution.

The NYSE DOW closed LOWER -7.79 points -0.08% on Thursday September 17
Sym Last........ ........Change..........
Dow 9,783.92 -7.79 -0.08%
Nasdaq 2,126.75 -6.40 -0.30%
S&P 500 1,065.49 -3.27 -0.31%
30-yr Bond 4.1780% -0.0880

NYSE Volume 7,646,383,000 (prior day 7,837,031,500)
Nasdaq Volume 2,643,237,500 (prior day 2,793,902,750)

Oil 72.25 -0.22 -0.30%
Gold US$/oz 1011.95 -5.05 -0.50%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,163.95 +39.82 +0.78%
DAX 5,731.14 +30.88 +0.54%
CAC 40 3,835.27 +21.48 +0.56%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,443.80 +173.03 +1.68%
Hang Seng 21,768.51 +365.59 +1.71%
Straits Times 2,672.60 -1.82 -0.07%

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

Stocks slip as investors take break from rally

Stocks edge lower as economic reports fail to draw buyers; Market has risen 8 of 10 days
By Tim Paradis, AP Business Writer
On Thursday September 17, 2009, 5:43 pm EDT

NEW YORK (AP) -- A surprise drop in unemployment claims couldn't fuel another day of gains for the stock market.

Stocks posted modest losses in quiet trading Thursday after a three-day advance. Traders found little in the weekly employment data, or in reports on housing and manufacturing, to provide new encouragement about an economic recovery. Stocks surrendered early gains around midday and the Dow Jones industrial average ended with a loss of 8 points.

Lackluster earnings reports from FedEx Corp. and Oracle Corp. added to investors' caution.

The stock market has risen in eight of the past 10 days and hopes for a recovery have propelled the Standard & Poor's 500 index up 57.5 percent from a 12-year low in early March. The pace of the gains has brought warnings from analysts that stocks have risen too quickly.

"This market has become kind of saturated with good news," said Jeff Kleintop, chief market strategist at LPL Financial.

The Labor Department said workers filing for jobless claims for the first time dipped to 545,000 last week from an upwardly revised 557,000 the previous week. Economists polled by Thomson Reuters were expecting claims to rise.

It was the lowest level of new claims since early July, indicating job cuts could be easing. However, those continuing to file for claims came in just above analysts' forecasts at 6.2 million. Many economists consider unemployment to be the biggest obstacle to a rebound in the economy.

The Commerce Department said housing starts rose in August to their highest level in nine months amid a jump in apartment building. The increase was just below the pace economists had forecast.

Similarly, the Philadelphia Federal Reserve's index of regional manufacturing conditions rose for a second straight month to its highest level since June 2007. However, a drop in new orders from August worried some investors.

Weaker sales at FedEx and Oracle stirred concerns about how corporate revenue will hold up for the July-September quarter. In the prior quarter, companies relied on cost-cutting, not revenue growth, to boost earnings.

David Chalupnik, head of equities at First American Funds, still expects stocks will push higher but said a break is necessary. "Eventually the market does need to take a breather," he said.

The Dow Jones industrial average fell 7.79, or 0.1 percent, to 9,783.92. On Wednesday, the Dow jumped 108 points to a high for the year.

The S&P 500 index fell 3.27, or 0.3 percent, to 1,065.49, and the Nasdaq composite index fell 6.40, or 0.3 percent, to 2,126.75.

Kleintop is encouraged that some of the market's recent gains have been moderate and that investors remain skeptical. The counterintuitive logic of Wall Street would argue that all the predictions of a slide could keep the rally going.

"It's been kind of a steady grind over time bringing investors kind of kicking and screaming back into this market," he said.

Bond prices jumped, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.39 percent from 3.48 percent late Wednesday.

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

Among stocks, FedEx fell $1.74, or 2.2 percent, to $76.46 and Oracle slid 61 cents, or 2.8 percent, to $21.52. American Airlines' parent AMR Corp. jumped $1.45, or 19.7 percent, to $8.80 after the company said it secured $2.9 billion in cash and financing.

Crude oil fell 3 cents to settle at $72.47 per barrel on the New York Mercantile Exchange.

About three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 6.7 billion shares compared with 6.9 billion Wednesday.

The Russell 2000 index of smaller companies fell 1.91, or 0.3 percent, to 615.47.

Overseas, Britain's FTSE 100 rose 0.8 percent, Germany's DAX index gained 0.5 percent, and France's CAC-40 rose 0.6 percent. Japan's Nikkei stock average jumped 1.7 percent.

 

[bigdog]

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

The Dow Jones industrial average closed the week up 214.79, or 2.2 percent, at 9,802.20. The Standard & Poor's 500 index rose 25.57, or 2.5 percent, to 1,068.30. The Nasdaq composite index rose 51.96, or 2.5 percent, to 2,132.86.

Despite choppy, listless action and some late pressure, stocks were able to log another solid gain, which helped give the S&P 500 a 2.5% weekly gain.

There weren't any major news items or economic items to act as positive trading catalysts this session, but the market's bullish bias still came through. In turn, the S&P 500 finished in higher ground for the ninth time in 11 sessions.

The stock market shifted back into rally mode Friday after analyst upgrades boosted investor optimism about the economy.

A 36-point advance in the Dow Jones industrial average left the index at a new high for the year and with a gain of 215 points for the week, its best weekly performance since July. Stock indexes have risen in nine of the past 11 days.

The market got a boost from a new economic forecast at Barclay's Capital, which raised its projection for growth in the nation's gross domestic product for first three months of next year to 5 percent from 3 percent. GDP has been shrinking, although many economists think it will return to growth for the July-September quarter.

The NYSE DOW closed HIGHER +36.28 points +0.37% on Friday September 18
Sym Last........ ........Change..........
Dow 9,820.20 +36.28 +0.37%
Nasdaq 2,132.86 +6.11 +0.29%
S&P 500 1,068.30 +2.81 +0.26%
30-yr Bond 4.2310% +0.0530

NYSE Volume 7,101,653,500 (prior day 7,646,383,000)
Nasdaq Volume 3,198,296,750 (prior day 2,643,237,500)

Oil 71.85 -0.62 -0.86%


Europe
Symbol... Last...... .....Change.......
FTSE 100 5,172.89 +8.94 +0.17%
DAX 5,703.83 -27.31 -0.48%
CAC 40 3,827.84 -7.43 -0.19%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,370.54 -73.26 -0.70%
Hang Seng 21,623.45 -145.06 -0.67%
Straits Times 2,647.91 -24.69 -0.92%

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=1&asset=&ccode=

Stock market resumes rally after one-day break

Stocks shift back to rally mode as analysts make upbeat calls; Dow gains 215 for the week
By Tim Paradis, AP Business Writer
On Friday September 18, 2009, 6:16 pm EDT

NEW YORK (AP) -- The stock market shifted back into rally mode Friday after analyst upgrades boosted investor optimism about the economy.

A 36-point advance in the Dow Jones industrial average left the index at a new high for the year and with a gain of 215 points for the week, its best weekly performance since July. Stock indexes have risen in nine of the past 11 days.

The market got a boost from a new economic forecast at Barclay's Capital, which raised its projection for growth in the nation's gross domestic product for first three months of next year to 5 percent from 3 percent. GDP has been shrinking, although many economists think it will return to growth for the July-September quarter.

Meanwhile, Procter & Gamble Co. pulled the Dow higher after an analyst raised her rating on the consumer products company in part because of its price-cutting strategy. P&G's huge stable of brands includes Tide detergent and Gillette razors.

The market's climb came a day after a pullback that did little to quiet analysts' calls for a break in the market's run.

Marc Harris, co-head of global research for RBC Capital Markets in New York, said the strength of the rally has surprised many investors because some of the stocks posting the biggest advances are lower-quality companies with weak balance sheets that investors only months ago feared might go out of business.

"Even turkeys are going to fly in a hurricane," Harris said. "Those lower-quality companies are leading the charge here."

Financial companies and home builders have been among the biggest gainers in the recent run. Many of these companies still face major hurdles with bad debt and the weak housing market.

Many analysts expect the market's run will slow -- but perhaps not stop -- as investors shift their holdings from industries where the gains have been strong, like technology, to areas that have lagged.

The Dow rose 36.28, or 0.4 percent, to 9,820.20, its highest close since Oct. 6, when it finished at 9,956. The index is up 11.9 percent for the year.

The broader Standard & Poor's 500 index rose 2.81, or 0.3 percent, to 1,068.30, while the Nasdaq composite index advanced 6.11, or 0.3 percent, to 2,132.86.

The Dow's gain of 2.2 percent for the week was its best gain since the week ended July 24. The S&P 500 index and the Nasdaq advanced 2.5 percent.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.46 percent from 3.39 percent late Thursday.

The dollar rose against other major currencies, while gold slipped.

Crude oil fell 43 cents to settle at $72.04 per barrel on the New York Mercantile Exchange.

P&G rose $1.79, or 3.2 percent, to $57.32 after its upgrade from Citi Investment Research.

Stocks rallied during the week as reports on retail sales and manufacturing raised hopes the economy is rebounding. Federal Reserve Chairman Ben Bernanke's comment that the recession has "very likely" ended also cheered investors even as he warned that problems like high unemployment will linger.

Industrial stocks logged some of the biggest jumps. General Electric Co. surged 12.5 percent for the week, while Caterpillar Inc. added 10.1 percent.

Next week, figures on home sales and consumer sentiment could shape trading, as could a report due Monday on leading indicators. The economic snapshot is designed to predict economic activity in three to six months. Fed policymakers are almost sure to leave a key banking lending rate at a record low near zero at the conclusion of a two-day meeting Wednesday. President Barack Obama will host the Group of 20 economic summit in Pittsburgh starting Thursday.

Phil Guarco, global investment strategist for J.P. Morgan's Private Bank in New York, said a broad rally has given investors an easy ride.

"It's been kind of an investors' nirvana because all asset classes have been going up essentially," he said, noting exceptions like the dollar and the value of cash holdings. "It can't go on forever like that."

Many analysts still say the market is due for a break. Linda Duessel, equity market strategist at Federated Investors in Pittsburgh, said a retreat of 10 percent or more in major stock indexes wouldn't be surprising. The S&P 500 index has rocketed 57.9 percent from a 12-year low in early March. An advance that size might often take five or six years to occur.

She said that if there is a slide stocks could resume their climb because so many investors missed the rally.

"The most common question I get when I travel is 'Do you think I'll get a pullback so I can get in?' That's so bullish," she said.

Three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 6.1 billion shares compared with 6.7 billion Thursday.

The Russell 2000 index of smaller companies rose 2.41, or 0.4 percent, to 617.88.

Overseas, Britain's FTSE 100 rose 0.2 percent, Germany's DAX index fell 0.5 percent and France's CAC-40 slipped 0.2 percent. Japan's Nikkei stock average fell 0.7 percent.

The Dow Jones industrial average closed the week up 214.79, or 2.2 percent, at 9,802.20. The Standard & Poor's 500 index rose 25.57, or 2.5 percent, to 1,068.30. The Nasdaq composite index rose 51.96, or 2.5 percent, to 2,132.86.

The Russell 2000 index, which tracks the performance of small company stocks, rose 24.29, or 4.1 percent, for the week to 617.88.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,032.18, up 279.89, or 2.6 percent.
789

 

[bigdog]

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

The Nasdaq logged a modest gain as biotech stocks advanced in the face of broader market selling pressure, which kept the Dow and S&P 500 in the red for the entire session.

Coming off of a gain of more than 2% last week, participants moved against stocks in broad fashion. Of the 10 major sectors in the S&P 500, health care was the only one to sport a steady gain for the vast majority of the session. It finished 0.7% higher as biotechs climbed 2.4%.

Most stocks lost ground Monday as a stronger dollar pushed down commodity prices and investors grew jittery about the market's six-month rally.

The stronger dollar set off a slide in commodities like oil and gold, which weighed on energy and material shares.

The Dow Jones industrial average ended with a loss of 41 points after being down 94 in morning trading. For weeks, investors looking to take part in the market's rally have been pouncing on any dips.

The NYSE DOW closed LOWER -41.34 points -0.42% on Monday September 21
Sym Last........ ........Change..........
Dow 9,778.86 -41.34 -0.42%
Nasdaq 2,138.04 +5.18 +0.24%
S&P 500 1,064.66 -3.64 -0.34%
30-yr Bond 4.2450% +0.0140

NYSE Volume 5,310,173,000 (prior day 7,101,653,500)
Nasdaq Volume 2,425,171,000 (prior day 3,198,296,750)

Oil 69.68 -0.03 -0.04%
Gold US$/oz 1002.60 -3.55 -0.35%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,134.36 -29.59 -0.57%
DAX 5,668.65 -35.18 -0.62%
CAC 40 3,812.16 -15.68 -0.41%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,370.54 closed holiday
Hang Seng 21,472.85 -150.60 -0.70%
Straits Times 2,647.91 closed holiday

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

Stocks end off lows as health care, tech recover

Stocks fall but pare early losses as health care and technology gain; Dow falls 41 points
By Sara Lepro and Tim Paradis, AP Business Writers
On Monday September 21, 2009, 5:46 pm EDT

NEW YORK (AP) -- Most stocks lost ground Monday as a stronger dollar pushed down commodity prices and investors grew jittery about the market's six-month rally.

The stronger dollar set off a slide in commodities like oil and gold, which weighed on energy and material shares.

The Dow Jones industrial average ended with a loss of 41 points after being down 94 in morning trading. For weeks, investors looking to take part in the market's rally have been pouncing on any dips.

Gains in health stocks helped support the market, and Dell Inc.'s plans to buy information-technology company Perot Systems Corp. for $3.9 billion drove some buying in tech stocks.

Analysts have been calling for a retreat in the market after stocks surged powerfully off of 12-year lows in early March, lifting the benchmark Standard & Poor's 500 index 57.4 percent.

"This is what should happen, needs to happen, is going to happen along the way but it doesn't mean we're headed down significantly from here," said Jordan Smyth, managing director at Edgemoor Investment Advisors in Bethesda, Md.

Meanwhile, the market had a mixed reaction to a private research group's forecast of economic activity, which came in just below analysts forecasts but still posted a fifth consecutive month of increases.

The Conference Board said its index of leading economic indicators increased 0.6 percent in August, just shy of the 0.7 percent increase economists expected, but still enough of a positive indicator to reinforce Federal Reserve Chairman Ben Bernanke's pronouncement last week that the U.S. recession was "likely over" from a technical standpoint, even as difficulties such as unemployment remain.

The Dow fell 41.34, or 0.4 percent, to 9,778.86. It has fallen in two of the last three days.

The S&P 500 index fell 3.64, or 0.3 percent, to 1,064.66, while the tech-heavy Nasdaq composite index rose 5.18, or 0.2 percent, to 2,138.04.

The dollar rose against other major currencies, sending prices for gold, oil and other commodities tumbling. Commodities are priced in dollars, so a stronger greenback makes them less appealing for foreign investors.

Oil dropped $2.33 to settle at $69.71 a barrel on the New York Mercantile Exchange, driving energy stocks lower. Sunoco Inc. lost 65 cents, or 2.3 percent, to $27.79.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.49 percent from 3.46 percent late Friday.

Trading reflected a shift out of risky assets that have benefited from the stock market's advance and into safer plays like the dollar and government bonds. Investors are taking some money off the table ahead of key government meetings this week, including the Federal Reserve's two-day rate-setting meeting that begins Tuesday.

As long as there are no unwelcome surprises, analysts expect the market to continue to move higher.

"Right now there is not a whole lot to change the overall direction of the market, except for some profit-taking," said Dan Cook, senior market analyst at IG Markets Inc. in Chicago.

The Fed this week is widely expected to keep interest rates at a record low of near zero, but investors will be looking for any indication of when the Fed plans to actually raise rates, a tactic it would use to ward off inflation.

The Fed has kept interest rates low to help stimulate the economy, but if the central bank signals inflation is becoming a concern, that could spook investors. Until now, the Fed has insisted that inflation, which would further erode the value of the dollar and eat into Treasury yields, is largely in check.

On Thursday, President Barack Obama will host the Group of 20 economic summit in Pittsburgh. Analysts say investors are waiting for more clarity following the meetings before they make more bets on the market.

Shares of Perot Systems shot up 65 percent, or $11.65, to $29.56 after Dell offered to buy the company for $30 a share in cash -- a 68 percent premium over the stock's Friday closing price. Dell slid 68 cents, or 4.1 percent, to $16.01.

Two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 4.7 billion shares compared with 6.1 billion Friday when trading was heavy because of the expiration of options contracts.

The Russell 2000 index of smaller companies fell 1.91, or 0.3 percent, to 615.97.

Overseas, Britain's FTSE 100 fell 0.7 percent, Germany's DAX index dropped 0.6 percent, and France's CAC-40 fell 0.4 percent. A number of other Asian markets, including Japan's, were closed for holidays.

 

[bigdog]

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

A falling dollar drove buying in commodities and commodity-related stocks to help the broader market start the session on positive footing, but it was the financial sector that emerged to provide the most leadership.

In complete contrast to the previous session, the S&P 500 spent the entire session trading in positive territory. Early gains were led by the energy sector (+1.4%), materials sector (+1.2%), and financial sector (+2.3%) after the trio had lagged in the previous session.

A rebound in commodities drew investors back into the stock market and helped push stocks to new highs for 2009.

Major stock indicators rebounded Tuesday from a drop the day earlier to end at their highest levels in 11 months. The Dow Jones industrials rose 51 points after falling 41 on Monday.

After soaring 50.1 percent since hitting a 12-year low in early March, the Dow stands 170 points below the 10,000 mark -- a level the average first crossed in March 1999 and hasn't been above since October.

The NYSE DOW closed HIGHER +51.01 points +0.52% on Tuesday September 22
Sym Last........ ........Change..........
Dow 9,829.87 +51.01 +0.52%
Nasdaq 2,146.30 +8.26 +0.39%
S&P 500 1,071.66 +7.00 +0.66%
30-yr Bond 4.2080% -0.0370

NYSE Volume 5,983,461,500 (prior day 5,310,173,000)
Nasdaq Volume 2,514,368,000 (prior day 2,425,171,000)

Oil 71.50 -0.05 -0.07%
Gold US$/oz 1014.70 +10.85 +1.08%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,142.60 +8.24 +0.16%
DAX 5,709.38 +40.73 +0.72%
CAC 40 3,823.52 +11.36 +0.30%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,370.54 closed
Hang Seng 21,701.14 +228.29 +1.06%
Straits Times 2,685.63 +37.72 +1.42%

http://finance.yahoo.com/news/Rebound-in-commodities-apf-686439936.html?x=0

Rebound in commodities carries stocks to 2009 high

Stocks rise to 2009 highs, Dow adds 51 as commodities rebound, Fed begins rates meeting
By Sara Lepro and Tim Paradis, AP Business Writers
On Tuesday September 22, 2009, 5:58 pm EDT

NEW YORK (AP) -- A rebound in commodities drew investors back into the stock market and helped push stocks to new highs for 2009.

Major stock indicators rebounded Tuesday from a drop the day earlier to end at their highest levels in 11 months. The Dow Jones industrials rose 51 points after falling 41 on Monday.

After soaring 50.1 percent since hitting a 12-year low in early March, the Dow stands 170 points below the 10,000 mark -- a level the average first crossed in March 1999 and hasn't been above since October.

In an about-face, the dollar weakened against other major currencies. That helped lift commodities like oil and gold as well as energy and material stocks. Financial stocks also rose sharply.

The gains came as the Federal Reserve began a two-day meeting on interest rates. Investors are hoping the central bank will provide a clearer indication of when it might raise rates. Analysts also expect the statement the Fed issues at the conclusion of its meeting Wednesday will indicate the economy is improving. Fed Chairman Ben Bernanke said last week that the U.S. recession was "likely over" from a technical standpoint even though troubles like high unemployment remain.

The Fed is widely expected to keep rates at their record low of near zero for the time being. Rock-bottom interest rates have helped fuel the market's nearly seven-month old rally, making cash plentiful and cheap and encouraging investors to buy up riskier assets.

The market appears to be following a well-established pattern where brief dips are met with more buying as investors fear missing a continued rally.

"Reluctantly, investors are continually being dragged into a market that is finding a path of least resistance to the upside," said Art Hogan, chief market analyst at Jefferies & Co.

The consensus on Wall Street is that the economy is healing despite challenges like unemployment. But investors still have doubts over how strong the recovery will be, and whether the stock market's surge off of 12-year lows in March accurately reflects the still-fragile state of the economy.

"Right now, it's a more orderly market," said Greg Reynholds, senior vice president of asset management at Lenox Advisors. "People are digesting the data, trying to figure out exactly where we're headed."

The Dow Jones industrial average rose 51.01, or 0.5 percent, to 9,829.87, its highest close since Oct. 6, when it finished at 9,956.

The broader Standard & Poor's 500 index gained 7.00, or 0.7 percent, to 1,071.66, while the Nasdaq composite index rose 8.26, or 0.4 percent, to 2,146.30. Both indexes are at 11-month highs.

More than two stocks rose every one that fell on the New York Stock Exchange, where consolidated volume came to 5.3 billion shares compared with 4.7 billion Monday.

Gold and silver prices rose after three days of drops, while oil prices gained $1.84 to settle at $71.55 a barrel on the New York Mercantile Exchange.

Commodities rose as the U.S. dollar index, which measures the greenback against a basket of foreign currencies, fell 0.8 percent, after earlier hitting a fresh low for the year. The dollar has fallen sharply since early March, making commodities cheaper for foreign investors, as its appeal wanes amid low interest rates and unprecedented government spending designed to stimulate the economy.

Demand for energy and material stocks increased as commodities rose. U.S. Steel Corp. added $2.22, or 4.6 percent, to $50.24, while Chesapeake Energy Corp. jumped $1, or 3.6 percent, to $29.11.

Financial stocks rose after Rochdale Securities analyst Richard Bove raised his target price on Bank of America Corp. to $25 a share. Shares of the Charlotte, N.C.-based bank rose 36 cents, or 2.1 percent, to $17.61.

Among technology stocks, Google Inc. shares hit a 13-month high after a Canaccord Adams analyst raised the target price on the stock to $560. Shares rose as high as $501.99 and ended at $499.06, a gain of $2.06.

Bond prices rose, pushing yields down. The yield on the benchmark 10-year Treasury note fell to 3.45 percent from 3.49 percent late Monday.

In other trading, the Russell 2000 index of smaller companies rose 4.72, or 0.8 percent, to 620.69.

Overseas, Britain's FTSE 100 rose 0.2 percent, Germany's DAX index jumped 0.7 percent, and France's CAC-40 rose 0.3 percent. Japan's markets were closed for a public holiday.