NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

Despite weakness in the U.S. dollar, stocks spent nearly the entire session mired in weakness. Losses remained contained, however.

Participants showed indifference to renewed selling against the greenback, which took the Dollar Index back toward the 52-week lows that it set earlier this week. It settled with a 0.4% loss.

Stocks drifted lower Wednesday after an unexpected drop in home construction and disappointing forecasts from technology companies added to worries about the economic recovery.

The modest drop came a day after major stock indicators closed at 13-month highs. The Dow Jones industrial average slipped 11 points after having risen over nine of the past 11 days. Analysts say the market has been due for a break after the fast ascent.

John Brady, senior vice president of global interest rate products at MF Global in Chicago, said as the end of the year approaches traders are looking foremost at preserving the gains amassed in an eight-month rally which has given the benchmark Standard & Poor's 500 index a gain of 22.9 percent so far in 2009.

The NYSE DOW closed LOWER -11.11 points -0.11% on Wednesday November 18
Sym Last........ ........Change..........
Dow 10,426.31 -11.11 -0.11%
Nasdaq 2,193.14 -10.64 -0.48%
S&P 500 1,109.80 -0.52 -0.05%
30-yr Bond 4.30% +0.05

NYSE Volume 4,931,462,500 (prior day 4,458,950,500)
Nasdaq Volume 2,007,326,250 (prior day 1,914,081,000)

Oil 79.75 +0.61 +0.77%
Gold 1,144.20 +5.40 +0.47%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,342.13 -3.80 -0.07%
DAX 5,787.61 +9.18 +0.16%
CAC 40 3,828.16 -0.90 -0.02%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,676.80 -53.13 -0.55%
Hang Seng 22,840.33 -73.82 -0.32%
Straits Times 2,745.04 -19.91 -0.72%

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

Stock market falls as home construction slows

Stocks fall as disappointing report on housing starts stirs worries about pace of recovery

By Stephen Bernard and Tim Paradis, AP Business Writers
On 4:55 pm EST, Wednesday November 18, 2009

NEW YORK (AP) -- Stocks drifted lower Wednesday after an unexpected drop in home construction and disappointing forecasts from technology companies added to worries about the economic recovery.

The modest drop came a day after major stock indicators closed at 13-month highs. The Dow Jones industrial average slipped 11 points after having risen over nine of the past 11 days. Analysts say the market has been due for a break after the fast ascent.

John Brady, senior vice president of global interest rate products at MF Global in Chicago, said as the end of the year approaches traders are looking foremost at preserving the gains amassed in an eight-month rally which has given the benchmark Standard & Poor's 500 index a gain of 22.9 percent so far in 2009.

"It's a bit of a consolidation trade," he said. "Traders are scared to go out too far out on a limb here and do anything too risky late in the year."

The day's economic news provided investors more reason for caution. The Commerce Department said construction of homes and apartments fell 10.6 percent in October to an annual rate of 529,000, well below the pace of 600,000 that economists polled by Thomson Reuters expected.

Joe Heider, president of Dawson Wealth Management in Cleveland, said the disappointing results "will push against what was a very bullish attitude on Wall Street."

Heider said investors were trying to determine whether the slowdown signaled weakness in the economy or a reluctance among builders to break ground when the future of a homebuyers' tax credit was uncertain. Lawmakers extended a tax credit for first-time homebuyers that was set to end this month through June.

Building permits, a key indication for future activity, slid 4 percent and fell short of forecasts.

Technology shares fell after BMO Capital Markets said Blackberry maker Research in Motion Ltd. faces increased competition as consumers opt for less expensive phones. Meanwhile, forecasts from software makers Autodesk Inc. and Salesforce.com fell short of analysts expectations.

According to preliminary calculations, Dow fell 11.11, or 0.1 percent, to 10,426.31. The broader S&P 500 index slipped 0.52, or 0.1 percent, to 1,109.80, while the technology-heavy Nasdaq composite index fell 10.64, or 0.5 percent, to 2,193.14.

Trading volume was light, as it has been for weeks. That suggests a relatively small number of buyers, which means the market may have trouble holding on to a surge this month that has vaulted the Dow up 725 points, or 7.5 percent.

Investors are looking for any signals of further improvement in the economy to justify the gains that pulled major stock indexes off 12-year lows in March. Rising unemployment and tepid retail sales have some analysts worried that investors might have been too quick to place bets on a recovery.

The dollar mostly fell against other major currencies. That drove demand for gold and other metals.

Gold rose for a fourth straight day to a record $1,151.20 an ounce before ending at $1,141.20 an ounce on the New York Mercantile Exchange. Copper and silver touched their highest levels in more than a year.

The drop in the dollar offered only modest support to stocks. The market often moves opposite the dollar as weakness in the currency boosts demand for commodities. That, in turn, strengthens shares of energy and materials companies as well as exporters whose goods become cheaper to foreign buyers.

Matthew Eads, portfolio manager at Eads & Heald Investment Counsel in Atlanta, said the market is still at reasonable levels even though the S&P 500 index has risen 64 percent since March. But he cautions that stocks could pull back, however, if problems like unemployment don't ease or if confidence about a recovery falters.

"As long as people perceive fear or are losing their jobs, spending is going to go down," he said.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.37 percent from 3.33 percent late Tuesday.

Crude oil rose 44 cents to settle at $79.58 per barrel on the Nymex.

Among tech stocks, Research in Motion fell $1.55, or 2.5 percent, to $59.85, while Autodesk slid $2.80, or 10.4 percent, to $24.20. Salesforce.com fell $2, or 3.1 percent, to $63.61.

Falling stocks narrowly outpaced those that rose on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 972 million Tuesday.

The Russell 2000 index of smaller companies fell 2.19, or 0.4 percent, to 600.15.

Overseas, Britain's FTSE 100 fell 0.1 percent, Germany's DAX index gained 0.2 percent, and France's CAC-40 slipped less than 0.1 percent. Japan's Nikkei stock average fell 0.6 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Sellers were able to dog stocks for the entire session and hand the S&P 500 its worst single-session percentage loss of the month as buyers stepped to the sidelines amid a lack of positive catalysts. Buyers showed some mild interest late in the session and helped stocks make a couple of upward spurts, but the moves were quickly repressed.

Strength in the dollar kept many buyers at bay this session. The Dollar Index had been up as much as 0.7%, but settled with a gain of 0.3%. Though it settled off of session highs, its advance was enough to pressure both the equity market and commodities pits.

Signs of a subdued economic recovery sent investors out of stocks Thursday and in search of safer assets like the dollar.

Major indexes tumbled about 1 percent, including the Dow Jones industrial average, which lost 94 points but ended well off its low. Energy and material stocks logged some of the biggest losses as a jump in the dollar sent commodity prices tumbling. Meanwhile, an analyst's downgrade of the chip industry pulled technology shares sharply lower.

As stocks fell, investors flocked to the dollar and Treasurys. The yield on the three-month T-bill, considered one of the safest investments, tumbled to its lowest level since December. The Chicago Board Options Exchange's Volatility Index, also known as Wall Street's fear gauge, rose more than 4 percent.

The NYSE DOW closed LOWER -93.87 points -0.90% on Thursday November 19
Sym Last........ ........Change..........
Dow 10,332.44 -93.87 -0.90%
Nasdaq 2,156.82 -36.32 -1.66%
S&P 500 1,094.90 -14.90 -1.34%
30-yr Bond 4.2880% -0.0110

NYSE Volume 4,909,092,500 (prior day 4,931,462,500)
Nasdaq Volume 2,263,984,750 (prior day 2,007,326,250)

Oil 77.90 -1.68 -2.11%
Gold 1,143.80 +3.10 +0.27%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,267.70 -74.43 -1.39%
DAX 5,702.18 -85.43 -1.48%
CAC 40 3,760.22 -67.94 -1.77%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,549.47 -127.33 -1.32%
Hang Seng 22,643.16 -197.17 -0.86%
Straits Times 2,758.79 +13.75 +0.50%

http://finance.yahoo.com/news/Stronger-dollar-weak-economic-apf-3017726482.html?x=0

Stronger dollar, weak economic data pummels stocks
Rising dollar, weak economic data drags stocks lower; Dow gives up 94 points

By Sara Lepro and Tim Paradis, AP Business Writers
On 5:18 pm EST, Thursday November 19, 2009

NEW YORK (AP) -- Signs of a subdued economic recovery sent investors out of stocks Thursday and in search of safer assets like the dollar.

Major indexes tumbled about 1 percent, including the Dow Jones industrial average, which lost 94 points but ended well off its low. Energy and material stocks logged some of the biggest losses as a jump in the dollar sent commodity prices tumbling. Meanwhile, an analyst's downgrade of the chip industry pulled technology shares sharply lower.

As stocks fell, investors flocked to the dollar and Treasurys. The yield on the three-month T-bill, considered one of the safest investments, tumbled to its lowest level since December. The Chicago Board Options Exchange's Volatility Index, also known as Wall Street's fear gauge, rose more than 4 percent.

Overseas markets also fell sharply.

The day's trade was a shift out of riskier assets and back into safe havens like the dollar and Treasurys. After amassing significant gains during an eight-month rally in stocks, investors are hesitant to take on too many extra risks as the year ends, worried that the economy's rebound might not be sustainable.

"Large money managers, going into the end of the year, are looking to protect their gains and are shifting assets," said Adam Gould, senior portfolio manager at Direxion Funds in New York.

For much of this year, investors have been selling dollars and putting their money in riskier assets like stocks and commodities that have the potential to earn higher returns.

Now, investors are wondering whether the dollar's slide has run its course and whether other markets have gotten overheated considering the many challenges to the economy including high unemployment.

Reports on the economy gave investors little incentive to hold on to stocks. Figures from the Labor Department indicated that employers are still shedding jobs, and the Mortgage Bankers Association reported a surge in foreclosures.

Still, analysts warn that the dollar's rise Thursday doesn't necessarily mark the beginning of a long-term move. Record-low U.S. interest rates could continue to weigh on the dollar.

Jon Biele, head of capital markets at Cowen & Co., said investors are searching for direction.

"There are a lot of questions out there and not a lot of answers. When you don't have the right information you don't do anything," he said.

The Dow fell 93.87, or 0.9 percent, to 10,332.44, after being down as much as 170. It was the Dow's biggest point drop since Oct. 30.

The broader Standard & Poor's 500 index fell 14.90, or 1.3 percent, to 1,094.90, while the Nasdaq composite index fell 36.32, or 1.7 percent, to 2,156.82.

The Russell 2000 index of smaller companies fell 14.47, or 2.4 percent, to 585.68.

Bonds rallied as stocks fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.34 percent from 3.37 percent late Wednesday. The yield on the three-month T-bill was flat at 0.02 percent after falling as low as 0.005 percent.

The ICE Futures US dollar index, which measures the dollar against other major currencies, gained 0.3 percent, weighing on commodities. Gold inched higher, while oil prices dropped $2.12 to settle at $77.46 a barrel on the New York Mercantile Exchange.

"There might be a little fear out there about dollar strengthening, as well as some natural profit-taking opportunities," said Dan Cook, senior market analyst at IG Markets Inc. in Chicago. "We've been on an amazing run."

The stronger dollar also makes U.S. goods and services more expensive overseas. U.S. companies that do business abroad make less money when their earnings are translated from other countries' currencies into dollars.

Among the day's economic news, the Mortgage Bankers Association said more than 14 percent of American homeowners with a mortgage were either behind on their payments or in foreclosure at the end of September. Investors are worried that loan defaults could rise as long as unemployment increases.

The government said the number of newly laid-off workers seeking unemployment insurance was unchanged last week at 505,000. The figure remains above the level that would indicate the economy is adding jobs.

Meanwhile, a private group's forecast of economic activity rose less than expected in October, signaling slow growth next year. The Conference Board said its index of leading economic indicators, which forecasts activity over the next six months, rose 0.3 percent last month.

The market's losses added to a modest drop Wednesday that followed a drop in home construction and worse-than-expected forecasts from technology companies.

Tech shares fell again after chipmakers, including Intel Corp., were downgraded.

"If a company like Intel isn't going to do as was well as people think, then that has many ripple effects," said Gould of Direxion Funds.

Intel lost 4.1 percent, sliding 82 cents to $19.30. Texas Instruments Inc. fell 87 cents, or 3.4 percent, to $24.88, while Advanced Micro Devices Inc. fell 27 cents, or 3.7 percent, to $7.05.

Five stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.1 billion shares, in line with Wednesday.

Overseas, Britain's FTSE 100 fell 1.4 percent, Germany's DAX index lost 1.5 percent, and France's CAC-40 slid 1.8 percent. Earlier Thursday, Japan's Nikkei stock average fell 1.3 percent.

 

[bigdog]

Source: http://finance.yahoo.com

A lack of positive catalysts and a stronger dollar weighed on stocks for the entire session and helped hand the market a fractional loss for the week.

An earnings miss last evening from Dell (DELL 14.29, -1.58) had already put participants in a dour mood, while weakness in overseas markets also weighed on things -- Asia's major indices slid amid reports that policymakers are talking about the possibility of imposing capital controls, while Europe's bourses moved lower following discussions of withdrawing liquidity measures from European Central Bank (ECB) President Trichet.

The stock market ended a down week with light selling as investors grew uneasy about a rising dollar and spiking demand for the safest government debt.

After two strong weeks, investors tried unsuccessfully to extend the market's rally after major stock indexes closed at 13-month highs on Tuesday. Disappointing reports on housing and worries about flagging demand at technology companies sapped strength from the market's eight-month rally.

The Dow Jones industrial average ended the week with a 0.5 percent gain but broader indexes slid.

The NYSE DOW closed LOWER -14.28 points -0.14% on Friday November 20
Sym Last........ ........Change..........
Dow 10,318.16 -14.28 -0.14%
Nasdaq 2,146.04 -10.78 -0.50%
S&P 500 1,091.38 -3.52 -0.32%
30-yr Bond 4.2950% +0.0070

NYSE Volume 4,344,880,500 (prior day 4,909,092,500)
Nasdaq Volume 1,979,998,750 (prior day 2,263,984,750)

Oil 76.83 -0.63 -0.81%
Gold 1,146.40 +5.00 +0.44%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,251.41 -16.29 -0.31%
DAX 5,663.15 -39.03 -0.68%
CAC 40 3,729.36 -30.86 -0.82%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,497.68 -51.79 -0.54%
Hang Seng 22,455.84 -187.32 -0.83%
Straits Times 2,761.54 +2.75 +0.10%

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

Stocks fall for 3rd day as dollar strengthens

Stocks slip as investors push into safe-haven investments; Dell weighs on technology stocks

By Stephen Bernard and Tim Paradis, AP Business Writers
On 4:30 pm EST, Friday November 20, 2009

NEW YORK (AP) -- The stock market ended a down week with light selling as investors grew uneasy about a rising dollar and spiking demand for the safest government debt.

After two strong weeks, investors tried unsuccessfully to extend the market's rally after major stock indexes closed at 13-month highs on Tuesday. Disappointing reports on housing and worries about flagging demand at technology companies sapped strength from the market's eight-month rally.

The Dow Jones industrial average ended the week with a 0.5 percent gain but broader indexes slid.

Stocks fell for the third straight day Friday as a disappointing earnings report from computer maker Dell Inc. weighed on technology shares. The Nasdaq composite index, with a big representation of tech stocks, logged the weakest performance of the major indicators for the week.

Demand for safe havens rose Thursday and again Friday following Dell's report and as European Central Bank President Jean-Claude Trichet said the ECB plans to start reining in some of its stimulus programs.

Investors seeking safety pushed into the dollar and other investments seen as being stable such as short-term Treasurys. The yield on the three-month T-bill, which moves opposite its price, was flat at 0.02 percent from late Thursday. Yields briefly turned negative Thursday as investors seeking to pad their portfolios with safe investments before the end of the year were willing to accept negative returns.

"Investors seem to need a constant reassurance with where we are in the economic recovery," said Brett D'Arcy, chief investment officer at CBIZ Wealth Management Group in San Diego. "We just haven't gotten it in the past few days."

According to preliminary calculations, the Dow slipped 14.28, or 0.1 percent, to 10,318.16. The Dow fell 119 points, or 1.1 percent, in the final three days of the week. It ended the week up 0.5 percent because of steep gains Monday following an improvement in retail sales.

The broader Standard & Poor's 500 index fell 3.52, or 0.3 percent, to 1,091.38, while the Nasdaq fell 10.78, or 0.5 percent, to 2,146.04.

For the week, the S&P 500 index fell 0.2 percent and the Nasdaq lost 1 percent. For November, those indexes are each up about 5 percent, while the Dow is up about 6 percent.

The ICE Futures US dollar index, which measures the dollar against other major currencies, rose 0.4 percent. The stronger dollar can hurt commodities prices and also sales of U.S. exporters, whose goods become more expensive overseas when the dollar rises.

Demand for longer-term Treasurys fell, pushing yields higher. The yield on the benchmark 10-year note rose to 3.37 percent from 3.34 percent.

Many of the week's economic numbers made investors cautious.

Reports Wednesday and Thursday showing a drop in housing starts and a jump in mortgage delinquencies upended an advance that had been all but unbroken in November. Those figures brought worries that an economic recovery will be slow and bumpy.

Concerns about the pace of a recovery have dogged the market's eight-month rally but with the nation's unemployment rate now above 10 percent for the first time in 26 years and new worries about housing, some analysts say investors have raced too far ahead of a recovery in the economy.

Many investors have amassed big gains in the climb since March that has left the benchmark S&P 500 index up 20.8 percent so far this year. Analysts say trading volume has fallen in November because some money managers are stepping away from the market to safeguard their gains.

Traders predict volume will be light again next week because of Thanksgiving. Even with the holiday, the week brings a flurry of reports on home sales, unemployment, consumer confidence and demand for big-ticket manufactured goods.

The government also will revise its early estimate that said the economy grew at an annual pace of 3.5 percent during the July-September quarter. Many analysts now expect GDP will be revised lower because of recent reports on housing and retail sales.

Hank Smith, chief investment officer of equity at Haverford Investments in Radnor, Pa., said investors are worried that a lower reading on GDP will mean the economy didn't start the final quarter of 2009 with as much strength as had been hoped.

Smith also said the market's slump after it speak Tuesday wasn't unexpected because of the steep gains of the first half of the month. He predicts the latest slide and others won't be deep because some investors who didn't take part in the market's eight-month rally are looking for opportunities to jump in.

"The investors who have missed this move are experiencing tremendous anxiety about missing a new bull market but also about getting paid nothing or, in some cases, negative returns," Smith said.

Even if stocks can manage to climb in the final six weeks of the year, some traders are worried that there will be little to propel the market higher in 2010 if worries about jobs, housing and consumers don't ease.

Investors got the type of downcast news from Dell that suggests a recovery could be uneven. The company said sales of its computers to big businesses remain sluggish. Its quarterly revenue and profit missed analysts' expectations. The stock fell $1.58, or 10 percent, to $14.29.

Energy companies logged some of the biggest drops as crude oil fell 74 cents to settle at $76.72 per barrel on the New York Mercantile Exchange as the dollar rose. Gold rose.

Three stocks fell for every two that rose on the New York Stock Exchange, where volume came to 1.1 billion shares, in line with Thursday.

The Russell 2000 index of smaller companies fell 1.00, or 0.2 percent, to 584.68.

Overseas, Britain's FTSE 100 fell 0.3 percent, Germany's DAX index lost 0.7 percent, and France's CAC-40 dropped 0.8 percent. Japan's Nikkei stock average fell 0.5 percent.

7842

 

[bigdog]

Source: http://finance.yahoo.com

A drop by the dollar brought buyers in from the sidelines after stocks had fallen for three straight sessions. Early support helped the S&P 500 come within just a couple of points of a new 2009 high, but resistance at current highs left stocks to gradually pare gains for the remainder of the session.

The Dollar Index erased its gains from the previous two sessions with a 0.6% fall. Indian Prime Minister Singh offered support for the greenback, but comments by Chicago Fed President Evans and St. Louis Fed President Bullard stirred selling pressure against the currency. Evans made it known that he thinks near-zero interest rates will remain well into 2010, while Bullard wants to keep the Fed's Mortgage-Backed Securities program active beyond the first quarter of 2010.

Investors halted a three-day losing streak on the stock market Monday, sending prices broadly higher on a weaker dollar and better-than-expected home sales numbers.

Major stock indexes soared more than 1 percent, including the Dow Jones industrials, which rose 133 points to a 13-month high. Volume was thin ahead of the Thanksgiving holiday, which can exaggerate the size of swings in the market.

Investors found plenty reasons to buy as the day's developments pointed to two trends: an improving economy and interest rates that are expected to stay low.

The NYSE DOW closed HIGHER +132.79 points +1.29% on Monday November 23
Sym Last........ ........Change..........
Dow 10,450.95 +132.79 +1.29%
Nasdaq 2,176.01 +29.97 +1.40%
S&P 500 1,106.24 +14.86 +1.36%
30-yr Bond 4.2870% -0.0080

NYSE Volume 4,496,764,500 (prior day 4,344,880,500)
Nasdaq Volume 1,869,640,620 (prior day 1,979,998,750)

Oil 76.90 -0.56 -0.72%
Gold 1,164.30 +17.90 +1.56%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,355.50 +87.80 +1.67%
DAX 5,801.48 +138.33 +2.44%
CAC 40 3,813.17 +83.81 +2.25%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,497.68 -51.79 -0.54%
Hang Seng 22,771.39 +315.55 +1.41%
Straits Times 2,797.88 +36.34 +1.32%

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

Weak dollar, home sales data carry stocks higher
Stocks move sharply higher on weak dollar, jump in home sales; Dow touches fresh 13-month high

By Sara Lepro and Tim Paradis, AP Business Writers
On 4:43 pm EST, Monday November 23, 2009

NEW YORK (AP) -- Investors halted a three-day losing streak on the stock market Monday, sending prices broadly higher on a weaker dollar and better-than-expected home sales numbers.

Major stock indexes soared more than 1 percent, including the Dow Jones industrials, which rose 133 points to a 13-month high. Volume was thin ahead of the Thanksgiving holiday, which can exaggerate the size of swings in the market.

Investors found plenty reasons to buy as the day's developments pointed to two trends: an improving economy and interest rates that are expected to stay low.

-- The National Association of Realtors reported that October home sales rose more than 10 percent revived investors' optimism after disappointing data on the housing industry last week raised concerns about the strength of the economic recovery.

-- Charles Evans, head of the Federal Reserve Bank of Chicago, was quoted as saying he saw little risk that the economy would slide back into recession, although unemployment is unlikely to fall until next summer. And James Bullard, president of the Federal Reserve Bank in St. Louis, said the U.S. Fed should continue to buy mortgage-backed securities after the program is supposed to expire in March. That would continue to keep interest rates low.

-- The dollar, a key factor in stock trading in recent months, extended its pullback, sending prices for commodities including gold and oil higher and in turn, the stocks of companies that produce them.

Meanwhile, bond prices retreated as investors regained their appetite for risk.

Low interest rates and a resulting slide in the dollar have been big drivers behind the stock market's eight-month rally. Low interest rates enable investors to borrow cheaply and buy assets like stocks and commodities that have the potential to earn higher yields than cash.

Investors were buying Monday on somewhat contradictory forces in the market. The strength in housing is a sign of an improving economy, which could argue in favor of raising rates, while the dollar's weakness points to rates remaining low. Analysts say investors who still have plenty of available cash are primed to buy, and so the market may also be rising on its own momentum.

"There's still $2 trillion of cash that needs to find its way into the stock market," said Phil Orlando, chief equity market strategist at Federated Investors.

Orlando said investors will continue to look for dips in the rally as a way to get into the market, not wanting to end the year without participating in some of the big gains stocks have made.

"Bearish managers are sweating bullets that they're not going to be able to get that cash in the market and they need to do that," he said. "That is why any pullback we've seen this year has been met with a wave of cash that has pushed stocks up higher."

At the same time, many portfolio managers have cooled their buying, not wanting to risk losing the big returns they've made since stocks began rallying in March. Those opposing forces are likely to result in choppy trading over the next few weeks, analysts said, which will be exacerbated by light volume as the holidays approach.

According to preliminary calculations, the Dow rose 132.79, or 1.3 percent, to 10,450.95, after losing 120 points over the previous three days. The Dow rose as much as 177 points to a 13-month trading high of 10,495.61.

The Standard & Poor's 500 index rose 14.86, or 1.4 percent, to 1,106.24, while the Nasdaq composite index rose 29.97, or 1.4 percent, to 2,176.01.

Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to a low 979.9 million shares, compared with 1.1 billion Friday. Many traders were already on vacation for Thanksgiving, and the decreased volume can contribute to price swings.

The ICE Futures U.S. dollar index, a widely used measure of the dollar against other currencies, fell 0.7 percent. As the dollar fell, gold prices surged to a new high of $1,174 an ounce. Oil rose 9 cents to $77.56 a barrel on the New York Mercantile Exchange.

The spike in commodities lifted the shares of energy companies and materials producers. Chevron Corp. rose $1.97, or 2.6 percent, to $78.74. Weyerhaeuser Co. gained $1.25, or 3.3 percent, to $39.11.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.36 percent from 3.37 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.02 percent from 0.01 percent.

The yield on the three-month bill briefly dipped into negative territory last week as worries about the economy took hold and investors retreated to safe havens like the dollar and government debt as they sold stocks.

Investors wanting to lock in profits as the year comes to a close are willing to earn very little to park their cash in a safe place.

"It's not a time for taking chances," said Quincy Krosby, market strategist at Prudential Financial.

The National Association of Realtors said home sales rose 10.1 percent in October to the highest level in two and a half years, spurred by a tax credit for first-time homebuyers. Analysts had been expecting a 1.4 percent increase in sales. The credit, due to end at the end of the month, has been extended into 2010.

"You could be completely cynical and say this market is moving up today because volume is low and the dollar is weak, but I would have to add that we're getting confirmation on the sustainability of the economic recovery by the actual fundamentals," Krosby said, referring to the housing report.

In other trading, the Russell 2000 index of smaller companies rose 10.13, or 1.7 percent, to 594.81.

Overseas, Britain's FTSE 100 rose 2 percent, Germany's DAX index soared 2.4 percent, and France's CAC-40 jumped 2.3 percent. Markets in Japan were closed for a holiday.

 

[bigdog]

Source: http://finance.yahoo.com

There were plenty of trading catalysts this session, but participants were generally subdued and left stocks to trade with moderate losses in light volume ahead of the Thanksgiving holiday.

The stock market spent virtually the entire session in negative territory after stocks had logged solid gains in the previous session. Unlike the previous session, though, the dollar bounced between moderate gains and losses before it finished flat. Overseas markets also offered little support as they were hampered with weakness; the Shanghai Composite closed 3.5% lower due, in part, to concern for a lack of market-supportive measures from the country's officials.

U.S. stocks fell on Tuesday on lackluster economic data in a session marked by low volume and choppy trading, but losses eased after the Federal Reserve raised its expectations for growth in 2010.

Stocks fell early in the session as revised government data on gross domestic product showed the U.S. economy grew at a slower-than-expected pace in the third quarter.

Hewlett-Packard Co (NYSE:HPQ - News) shares led the Dow industrials lower a day after the technology bellwether said in its results that the U.S. economy remained challenging.

The NYSE DOW closed LOWER -17.24 points -0.16% on Tuesday November 24
Sym Last........ ........Change..........
Dow 10,433.71 -17.24 -0.16%
Nasdaq 2,169.18 -6.83 -0.31%
S&P 500 1,105.65 -0.59 -0.05%
30-yr Bond 4.2570% -0.0300

NYSE Volume 4,378,524,000 (prior day 4,496,764,500)
Nasdaq Volume 1,876,441,880 (prior day 1,869,640,620)

Oil 76.90 -0.56 -0.72%
Gold 1,165.50 +1.20 +0.10%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,323.96 -31.54 -0.59%
DAX 5,769.31 -32.17 -0.55%
CAC 40 3,784.62 -28.55 -0.75%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,401.58 -96.10 -1.01%
Hang Seng 22,423.14 -348.25 -1.53%
Straits Times 2,779.98 -17.90

http://finance.yahoo.com/news/Stock...5.html?x=0&sec=topStories&pos=1&asset=&ccode=

Stocks dip on revised GDP; Fed's view curbs loss
On 4:33 pm EST, Tuesday November 24, 2009

By Rodrigo Campos

U.S. stocks fell on Tuesday on lackluster economic data in a session marked by low volume and choppy trading, but losses eased after the Federal Reserve raised its expectations for growth in 2010.

Stocks fell early in the session as revised government data on gross domestic product showed the U.S. economy grew at a slower-than-expected pace in the third quarter.

Hewlett-Packard Co (NYSE:HPQ - News) shares led the Dow industrials lower a day after the technology bellwether said in its results that the U.S. economy remained challenging.

With the S&P 500 up 22 percent so far this year, investors were struggling to justify additional gains after a series of middling economic reports.

However, the downbeat mood was tempered after the Fed revised upward its growth expectation for 2010, while minutes of the FOMC's most recent meeting showed officials are increasingly confident about a durable recovery for the U.S. economy.

"You're getting the cross-current of weak revisions to third-quarter data matrixed against the Fed increasing the growth estimates for the economy for the next year," said Jim Awad, managing director at Zephyr Management in New York.

"But the action in the market is moderate going into the holiday weekend and I wouldn't read too much into it."

The U.S. stock market will be closed on Thursday in observance of Thanksgiving Day. On Friday, it will be open for only half a day due to the holiday.

The Dow Jones industrial average (DJI:^DJI - News) dropped 17.24 points, or 0.16 percent, to end at 10,433.71. The Standard & Poor's 500 Index (^SPX - News) inched down just 0.59 of a point, or 0.05 percent, to 1,105.65. The Nasdaq Composite Index (Nasdaq:^IXIC - News) fell 6.83 points, or 0.31 percent, to 2,169.18.

Hewlett-Packard Co (NYSE:HPQ - News) fell 1.6 percent to $50.19 a day after the blue-chip computer and printer maker reported a quarterly profit that matched its preliminary results, but said the economy remained challenging.

HP also said it saw growth in its share of U.S. enterprise personal computers, which is rival Dell Corp's (NasdaqGSELL - News) key market. Dell's stock fell 3.2 percent to $14.32 and ranked as a top drag on the Nasdaq 100 (Nasdaq:^NDX - News).

Financial stocks showed weakness throughout the session. JPMorgan Chase & Co (NYSE:JPM - News) slid 1.9 percent to $42.48 and ranked among the heaviest weights on the blue-chip Dow industrials. The KBW bank index (Philadelphia:^BKX - News) fell 0.7 percent.

Zephyr Management's Awad said there is concern about banks' capital after news that the Fed asked lenders that were part of its "stress tests" to submit plans to repay government money.

U.S. home prices rose in September, according to the Standard & Poor's/Case-Shiller index, but the increase was less robust than forecast. Home prices for that month were unchanged, according to a separate report from the U.S. Federal Housing Finance Agency.

The Dow Jones U.S. Home Construction Index (DJI:^DJUSHB - News) fell 1.7 percent.

Volume was light on the New York Stock Exchange, where only about 952 million shares changed hands, far below last year's estimated daily average of 1.49 billion. On the Nasdaq, about 1.87 billion shares traded, well below last year's daily average of 2.28 billion.

Declining stocks outnumbered advancing ones on the NYSE by a ratio of about 8 to 7. On the Nasdaq, about three stocks fell for every two that rose.

 

[bigdog]

Source: http://finance.yahoo.com

A new 52-week low for the Dollar Index and a generally pleasing batch of economic data helped stocks make their way higher. However, buyers lacked the potency to push through resistance near 2009 highs as participation lacked ahead of the Thanksgiving holiday.

Renewed pressure against the U.S. dollar sent the Dollar Index to a 1.1% loss, its worst single-session percentage drop in nearly four months. The drop also put the Dollar Index at a fresh 12-month low, but gave a broad lift to the equity market.

Stocks climbed Wednesday following a drop in weekly unemployment claims to the lowest level of the year and a rise in new home sales.

The market's gains were modest on light trading volume ahead of the Thanksgiving holiday.

The government said new claims for unemployment insurance fell by 35,000 last week to 466,000. That's the fewest claims since September last year, and better than the 500,000 that economists had expected.

The NYSE DOW closed HIGHER +30.69 points +0.29% on Wednesday November 25
Sym Last........ ........Change..........
Dow 10,464.40 +30.69 +0.29%
Nasdaq 2,176.05 +6.87 +0.32%
S&P 500 1,110.63 +4.98 +0.45%
30-yr Bond 4.2380% -0.0190

NYSE Volume 3,479,942,250 (prior day 4,378,524,000)
Nasdaq Volume 1,415,957,500 (prior day 1,876,441,880)

Oil 76.90 -0.56 -0.72%
Gold 1,186.90 +21.40 +1.84%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,364.81 +40.85 +0.77%
DAX 5,803.02 +33.71 +0.58%
CAC 40 3,809.16 +24.54 +0.65%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,441.64 +40.06 +0.43%
Hang Seng 22,611.80 +188.66 +0.84%
Straits Times 2,792.84 +12.86 +0.46%

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

Stocks rise following drop in jobless claims

Drop in weekly jobless claims, rise in sales of new homes lift investors' hopes for economy

By Tim Paradis and Ieva M. Augstums, AP Business Writers
On 4:40 pm EST, Wednesday November 25, 2009

NEW YORK (AP) -- Stocks climbed Wednesday following a drop in weekly unemployment claims to the lowest level of the year and a rise in new home sales.

The market's gains were modest on light trading volume ahead of the Thanksgiving holiday.

The government said new claims for unemployment insurance fell by 35,000 last week to 466,000. That's the fewest claims since September last year, and better than the 500,000 that economists had expected.

The drop in claims suggests the job market is healing, but concern remains that the improvement will be temporary as the weak economy continues to push unemployment higher. The jobless rate hit 10.2 percent in October and many analysts believe it will keep rising before starting to improve next summer.

In other economic reports, new home sales rose 6.2 percent to an annual rate of 430,000. That's above what economists surveyed by Thomson Reuters had expected.

Separately, the government also reported consumer spending rose a brisk 0.7 percent last month, following a 0.6 percent drop in September. It was the best showing since August, when the government's now-defunct Cash for Clunkers programs enticed people to buy cars.

Not all the day's news was upbeat. Orders for expensive manufactured goods dropped 0.6 percent last month, the first drop since August. Economists had expected orders would grow.

Doug Roberts, chief investment strategist at Channel Capital Research in Shrewsbury, N.J., said investors are still worried about the sustainability of a recovery but are afraid of missing more of the market's eight-month rally.

"People may not believe in this market but they're reluctantly being pulled into it with each of these reports," he said.

According to preliminary calculations, the Dow Jones industrial average rose 30.69, or 0.3 percent, to 10,464.40.

The broader Standard & Poor's 500 index rose 4.98, or 0.5 percent, to 1,110.63, and the Nasdaq composite index rose 6.87, or 0.3 percent, to 2,176.05.

U.S. markets are closed for Thanksgiving and finishing early on Friday.

The dollar fell against most other major currencies, while gold rose to another record.

A weakening dollar has bolstered commodities and stocks of energy and materials companies, helping pump up their stocks in the market's eight-month rally.

Bond prices were mixed. The benchmark 10-year Treasury note rose, pushing its yield down to 3.27 percent from 3.31 percent late Tuesday. The yield on the three-month T-bill rose to 0.05 percent from 0.03 percent.

The Chicago Board Options Exchange's Volatility Index, known as the market's fear index, fell during trading to 20.05, its lowest level since August 2008. That's a signal that investors are less worried about big swings in the market.

In corporate news, Tiffany & Co. rose after its third-quarter profit topped expectations and the jeweler raised its full-year profit forecast ahead of the holiday shopping season. Tiffany rose $2.06, or 4.9 percent, to $43.89.

That lifted other luxury retailers. Saks Inc. rose 33 cents, or 5.2 percent, to $6.74, while Nordstrom Inc. rose $1.15, or 3.4 percent, to $34.83.

The reports came ahead of the unofficial start of the holiday shopping season on Friday. Investors will be looking for any signals in the coming weeks from retailers about consumer spending, which is the primary driver of the economy.

Light, sweet crude rose $1.94 to settle at $77.96 per barrel on the New York Mercantile Exchange.

Two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 795.1 million shares compared with 963.9 million Tuesday.

Overseas, Japan's Nikkei stock average rose 0.4 percent. Britain's FTSE 100 rose 0.8 percent, Germany's DAX index rose 0.6 percent, and France's CAC-40 rose 0.7 percent.

 

[bigdog]

Source: http://finance.yahoo.com

U.S. markets were closed Thursday November 26 for Thanksgiving and will be finishing early on Friday November 27.

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,194.13 -170.68 -3.18%
DAX 5,614.17 -188.85 -3.25%
CAC 40 3,679.23 -129.93


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,383.24 -58.40 -0.62%
Hang Seng 22,210.41 -401.39 -1.78%
Straits Times 2,762.22 -30.62 -1.10%

 

[noirua]

A break at last in the number one International thread and I hope you wont mind me coming over to tell you about The Bull's Stockies competition.

Voting is at the following link: http://www.thebull.com.au/the_stockies_list.php?c=Forums

Just a reminder really, if you've missed it so far and although ASF are in the lead it is being eroded. So we need your help to keep ASF firmly on the map, Thanks

 

[bigdog]

Source: http://finance.yahoo.com

Week ending 27-Nov-09A surprising sell-off in overseas markets triggered by Dubai debt concerns led to sharp losses in U.S. equity markets on Friday, wiping out the gains made earlier in the week.

The Dow Jones industrial average closed the week down 8.24, or 0.1 percent, at 10,309.92. The Standard & Poor's 500 index rose 0.11, or less than 0.1 percent, to 1,091.49. The Nasdaq composite index fell 7.60, or 0.4 percent, to 2,138.44.

This was the sideswipe investors had feared.

The stock market is in the middle of one of the great rallies of a generation, but for weeks there has been a nagging fear that bad news was never far off. The news came from Dubai, a wealthy Middle Eastern city-state that many Americans probably couldn't find on a map. Concerns that a government-backed investment company risked defaulting on $60 billion in debt ripped through world markets and served as a reminder of how fragile the financial system remains a year after it nearly collapsed.


The NYSE DOW closed LOWER -154.48 points -1.48% on Friday November 27
Sym Last........ ........Change..........
Dow 10,309.92 -154.48 -1.48%
Nasdaq 2,138.44 -37.61 -1.73%
S&P 500 1,091.49 -19.14 -1.72%
30-yr Bond 4.2110% -0.0270

NYSE Volume 2,846,343,000 (prior day 3,479,942,250) -- early close Nov 27
Nasdaq Volume 972,038,750 (prior day 1,415,957,500) -- early close Nov 27

Oil 76.90 -0.56 -0.72%
Gold 1,186.90 +21.40 +1.84%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,245.73 +51.60 +0.99%
DAX 5,685.61 +71.44 +1.27%
CAC 40 3,721.45 +42.22 +1.15%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,081.52 -301.72 -3.22%
Hang Seng 21,134.50 -1,075.91 -4.84%
Straits Times 2,762.22 -30.62 -1.10%


http://finance.yahoo.com/news/Stocks-slide-on-concerns-apf-180958818.html?x=0&.v=27

Stocks slide on concerns about Dubai debt fallout

US stocks follow world markets lower on concerns Dubai debt problems may hurt economic rebound

By Tim Paradis, AP Business Writer
On 4:54 pm EST, Friday November 27, 2009

NEW YORK (AP) -- This was the sideswipe investors had feared.

The stock market is in the middle of one of the great rallies of a generation, but for weeks there has been a nagging fear that bad news was never far off. The news came from Dubai, a wealthy Middle Eastern city-state that many Americans probably couldn't find on a map. Concerns that a government-backed investment company risked defaulting on $60 billion in debt ripped through world markets and served as a reminder of how fragile the financial system remains a year after it nearly collapsed.

The Dow Jones industrial average slumped 155 points Friday before trading ended three hours early due to the Thanksgiving holiday. The Dow fell as much as 233 points. The broad retreat from riskier assets pushed Treasury prices higher. The dollar gained against most other major currencies and commodities tumbled.

Now the question that will dog investors over the weekend is whether the markets will shrug off a financial crisis in the Middle East or seek protection in more conservative investments. That could end a rally that has seen the Dow surge 57.5 percent since March 9.

Stocks ended well off their lows but analysts cautioned that the shortened day and scarcity of traders meant the real test for the markets will come next week as traders return from long weekends.

The day's gyrations made clear that investors who might have been buying up stock in the past eight months remain on edge about faults in the financial system and the economy.

Worries about bad debt are fresh in investors' minds after the collapse of the U.S. brokerage Lehman Brothers in September last year kicked the U.S. economy deeper into recession overnight as banks halted lending on fears about the extent of bad loans.

The latest concern is that problems in Dubai, which has drawn wealthy tourists and investors from around the globe in the past decade with its Las Vegas-in-the-Middle East appeal, could imperil a nascent economic rebound around the world. This could happen if banks suffer big losses or confidence falters.

"The biggest risk is a domino effect," said Kevin Shacknofsky, portfolio manager of the Alpine Dynamic Dividend Fund in Purchase, N.Y.

The latest trouble on Wall Street comes as the U.S. kicks off the unofficial start to the holiday shopping season. Investors will be tracking news from retailers for insights into how much consumers will spend in the coming month. Consumer spending is the biggest driver of the U.S. economy.

The Dow fell 154.48, or 1.5 percent, to 10,309.92. It was the Dow's biggest drop since Oct. 30.

The broader Standard & Poor's 500 index fell 19.14, or 1.7 percent, to 1,091.49, and the Nasdaq composite index fell 37.61, or 1.7 percent, to 2,138.44.

For the week, the Dow slipped 0.1 percent, breaking a three-week winning streak. The S&P 500 index rose less than 0.1 percent and the Nasdaq fell 0.4 percent. Stocks are still up sharply for the month and the year.

Analysts were divided over whether Dubai's problems meant more trouble was to come.

Jeffrey Frankel, president of Stuart Frankel & Co. in New York, said U.S. investors were given a chance to digest the news with markets closed on Thanksgiving. Reports of Dubai's problems surfaced during trading on Wednesday and drew little initial reaction.

"It was like we were in a coma for a day and awoke and the worst had passed," he said.

In the past, financial time-bombs have been hard to detect. The subprime mortgage crises that helped tip the U.S. into recession began with small pops that grew louder as the extent of the problems with souring debt became clear.

Earlier this week, Dubai World, the city's main investment arm, said it had asked creditors for a six-month freeze in repaying the debt.

Dubai, part of the United Arab Emirates, has been better known for lavish hotels, palm-shaped islands and indoor skiing, than for financial problems brought by the recession. Whether Dubai's troubles prove to be a hiccup or something worse, investors didn't take chances.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.21 percent from 3.28 percent late Wednesday. The yield on the three-month T-bill, which is considered one of the safest investments, fell to 0.01 percent from 0.03 percent.

The ICE Futures U.S. dollar index, which measures the greenback against a basket of foreign currencies, rose 0.2 percent.

Commodities, which are priced in dollars, fell as the dollar gained. The move reflected an unwinding of trades that relied on a weak dollar to finance purchases of higher-yielding assets. Spooked traders reversing the so-called "carry trade" were demanding safe-haven assets.

Investors have been pushing into riskier assets in recent months as they seek bigger gains. U.S. interest rates are at record lows, making riskier investments like stocks an enticing alternative to the paltry returns of safer investments.

Crude oil fell $1.91 to settle at $76.05 per barrel on the New York Mercantile Exchange after being down by more than $5. Gold fell after a 10-day climb.

European markets, which fell more than 3 percent Thursday, closed higher after an early slide. Britain's FTSE 100 rose 1 percent, Germany's DAX index rose 1.3 percent and France's CAC-40 advanced 1.2 percent.

In Asia, Japan's Nikkei stock average slid 3.2 percent. Hong Kong's Hang Seng index tumbled 4.8 percent. South Korea's benchmark dropped 4.7 percent.

Shacknofsky said the reaction and calming of currency markets and the rebound in Europe was a signal investors are taking Dubai's problems in stride.

"The currency markets and the European markets are telling us that this not as bad as initially thought," he said.

The worries about Dubai erupted amid a period of relative calm in U.S. markets. The Chicago Board Options Exchange's Volatility Index, known as the market's fear index, rose more than 4 percent. On Wednesday it fell to its lowest level since August 2008 after jumping to a record in October last year around the height of the financial crisis. A drop in the VIX signals investors aren't as worried about big swings in the market.

The latest test of the market still leaves major stock indicators up more than 4 percent for the month so analysts said some selling was due. The S&P 500 index is up 61.3 percent from a 12-year low in March.

Trading volume in November has been light as many professional investors have pulled back from markets in hopes of locking in big gains for 2009.

Dave Rovelli, managing director of trading at brokerage Canaccord Adams in New York, said investors have been too quick to assume that the financial markets are on the mend.

"We're way ahead of ourselves in this market. We're in the eye of the storm now and we've been in it since March," he said. "Now we're in the back end of the storm."

Consolidated volume on the New York Stock Exchange came to 2.3 billion shares.

The Russell 2000 index of smaller companies fell 14.98, or 2.5 percent, to 577.21.

The Dow Jones industrial average closed the week down 8.24, or 0.1 percent, at 10,309.92. The Standard & Poor's 500 index rose 0.11, or less than 0.1 percent, to 1,091.49. The Nasdaq composite index fell 7.60, or 0.4 percent, to 2,138.44.

The Russell 2000 index, which tracks the performance of small company stocks, fell 7.47, or 1.3 percent, for the week to 577.21.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,048.12, down 16.66, or 0.2 percent.
8361

 

[bigdog]

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

Dubai looks to oil-rich neighbor for possible aid

Tale of 2 emirates: Dubai's debts and Abu Dhabi's oil-fueled growth

By Brian Murphy, Associated Press Writer
On 5:05 pm EST, Saturday November 28, 2009

DUBAI, United Arab Emirates (AP) -- As world markets absorbed the shock of Dubai's debt crisis, the ruler of the once-booming city-state left town for an important meeting in a desert palace. His hosts: the leaders of neighboring Abu Dhabi whose balance sheets are flush with oil revenue.

It's not known what promises were made inside the halls in Al Ain during the parade of visitors for an important Islamic feast day on Friday. But their new relationship is clear. Abu Dhabi has the cash and cache to be Dubai's white knight -- in a Gulf version of a too-big-to-fail bailout or to help calm markets with promises to intervene if Dubai's fiscal mess deepens.

The direction Abu Dhabi takes will likely set the tone for the coming week as analysts try to sort out what banks and institutions have the most at stake in the money crunch -- which has suddenly shifted Dubai's image from a desert dream factory of indoor ski slopes and a "seven-star" hotel to a reckless spender sideswiped by the recession and unable to pay its bills.

Just this month, Dubai's ruler, Sheik Mohammed bin Rashid Al-Maktoum, assured international investors that all was well with Dubai's finances and told media critics to "shut up."

"Depleting market confidence in Dubai carries serious risks for Abu Dhabi," said Hani Sabra of Eurasia Group, a U.S.-based research firm that assesses political risk for foreign investors in Dubai and the Gulf.

"Differences between the two city-states remain on how to approach the economy and the financial crisis," Sabra added. "But now Abu Dhabi is obviously the more dominant emirate."

Dubai's empty pockets -- mostly drained by collapsing real estate prices and over-ambitious development plans -- touched off panic selling across world markets on fears that the reckoning from the global recession is not over.

In a surprise announcement Wednesday, Dubai said it seeks a six-month delay in paying creditors on nearly $60 billion in debt held by its main development arm, Dubai World, whose holdings range from port operations around the world, Dubai's iconic palm-shaped island and the luxury retailer Barneys New York. The next tranche was a $3.52 billion bond due Dec. 14 by Dubai World's troubled real estate division, Nakheel.

On Friday, the Dow Jones industrial average suffered its biggest drop in nearly a month -- closing down 154.48, or 1.5 percent, to 10,309.92, in a shorted trading day because of the Thanksgiving break. Asian exchanges fell sharply for a second day, but European markets bounced back on confidence the Dubai damage would not spread to other Gulf economies.

Dubai and other Middle East financial markets reopen Monday after an Islamic holiday.

But much attention will remain on Abu Dhabi's response. It stepped in earlier this year with a $10 billion bailout for Dubai when the first blast of the recession hit. Dubai ruler Sheik Mohammed has stressed the close bonds between the two most powerful emirates in the UAE, which celebrates its national day on Wednesday and offers a perfect forum to display unity.

An editorial in The National newspaper -- which is bankrolled by Abu Dhabi and closely reflects the opinions of its rulers -- said Dubai's infrastructure is sound and pointed out General Motors' revival after receiving a U.S.-backed bailout in comments that suggested an unchecked Dubai meltdown could harm the entire country.

"Confidence is a fragile commodity," said the Friday editorial.

Yet Abu Dhabi's largesse may be reaching some limits. On the same day that Dubai announced its debt payment "standstill," two Abu Dhabi-controlled banks bought $5 billion in Dubai bonds for a stopgap cash infusion, but went no further.

"I guess Abu Dhabi is saying there will be no blank check for Dubai," said Jane Kinninmont, a London-based specialist on Gulf economies at the Economist Intelligence Unit.

What Abu Dhabi could get for their money, however, is greater long-term influence over Dubai's development policies. That would essentially mean giving the wealthy and more conservative rulers in the UAE's capital the task of trying to rein in Dubai after years of living beyond its means.

Dubai crash landed about a year ago as the global economic downturn ended a sizzling property boom, which saw prices skyrocket and investors lining up for new projects. The state-backed Dubai World led the charge with a catalog brimming with ever-bigger ideas and the bold motto: "The sun never sets on Dubai World."

Some were completed before the bubble burst, such as the Palm Jumeirah island that included a Hollywood A-list opening of the Atlantis resort in November 2008. But dozens of major projects, including entire mini-cities in the desert, have been shelved.

Abu Dhabi has moved ahead with more caution -- comfortable in the fact it has vast oil wealth that Dubai does not enjoy.

Its rulers have concentrated on what they see as attempts to gain global stature as hub for culture and innovation: funding an alternative energy research center and building satellite museums for the Louvre and Guggenheim. The Abu Dhabi sovereign wealth fund is constantly on the hunt for new investments, including U.S. companies such as Citigroup Inc.

Abu Dhabi's strategists are expected to dig deeper into Dubai World's books before deciding their next move, analysts say.

Dubai officials said plans to restructure Dubai World will not include its profitable ports management division, DP World, which has a presence in nearly 50 facilities around the world. The main retooling will be to Dubai World's battered real estate units, led by Nakheel.

A report from Goldman Sachs said the lenders HSBC Holdings PLC and Standard Chartered PLC could have the most exposure to Dubai debt, but the potential credit losses appeared relatively small. The deeper risks could directly hit Emirates' banks and investment firms.

Christopher Davidson, an expert in Emirate affairs at Britain's Durham University, wondered if Abu Dhabi wanted to become too deeply involved in lifting Dubai from its fiscal wreckage.

"There is no point throwing good money into Dubai's black holes," Davidson said. "These are mistakes of Sheik Mohammed and he needs to deal with them."

Associated Press Writer Barbara Surk contributed to this report.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks spent the afternoon trading with modest losses after rolling over in the early going, but they managed to make a late push into positive ground during the final hour of trade. The move was led by the financial sector, which actually had been unable to provide a lift to the broader market for most of the session.

Financial stocks outperformed the broader market with relative ease for the entire session. The sector settled with a 2.7% gain, which is more than triple the gain of the next best performing sector, utilities (+0.8%). The financial sector's strength came as banks (BKX 44.48, +1.44) rebounded from the previous session's slide, which came amid concerns regarding the exposure of banks to possible defaults by Dubai World, the corporate flagship of Dubai. Concerns over the matter persisted this morning as reports indicated that the central bank of the United Arab Emirates did not say that it would provide support specifically to Dubai.

The stock market closed out its best month since the summer, posting big gains for November even as investors worried about the strength of the holiday shopping season.

Stocks fluctuated through the day Monday, but finished modestly higher as traders ultimately were not deterred by reports that retail sales were overall uninspiring during the Thanksgiving weekend. Retailers including Macy's Inc. and Saks Inc. fell sharply but online merchants like Amazon.com Inc. shot higher on reports of strong Internet sales.

Despite the tepid finish, the Dow Jones industrial average and the Standard & Poor's 500 index rose more than 5 percent in November, their biggest monthly advance since July.

The NYSE DOW closed HIGHER +34.92 points +0.34% on Monday November 30
Sym Last........ ........Change..........
Dow 10,344.84 +34.92 +0.34%
Nasdaq 2,144.60 +6.16 +0.29%
S&P 500 1,095.63 +4.14 +0.38%
30-yr Bond 4.1940% -0.0170

NYSE Volume 4,935,183,500 (prior half day 2,846,343,000)
Nasdaq Volume 2,014,800,000 (prior half day 972,038,750)

Oil 76.90 -0.56 -0.72%
Gold 1,186.90 +21.40 +1.84%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,190.68 -55.05 -1.05%
DAX 5,625.95 -59.66 -1.05%
CAC 40 3,680.15 -41.30 -1.11%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,345.55 +264.03 +2.91%
Hang Seng 21,821.50 +687.00 +3.25%
Straits Times 2,732.12 -30.10 -1.09%

http://finance.yahoo.com/news/Stocks-turn-higher-to-extend-apf-3985650574.html?x=0

Stocks turn higher to extend month's big gains

Stocks gain as traders look for clues about shoppers; Market caps best month since July

By Tim Paradis, AP Business Writer
On 5:03 pm EST, Monday November 30, 2009

NEW YORK (AP) -- The stock market closed out its best month since the summer, posting big gains for November even as investors worried about the strength of the holiday shopping season.

Stocks fluctuated through the day Monday, but finished modestly higher as traders ultimately were not deterred by reports that retail sales were overall uninspiring during the Thanksgiving weekend. Retailers including Macy's Inc. and Saks Inc. fell sharply but online merchants like Amazon.com Inc. shot higher on reports of strong Internet sales.

Despite the tepid finish, the Dow Jones industrial average and the Standard & Poor's 500 index rose more than 5 percent in November, their biggest monthly advance since July.

Investors might not be surprised that holiday sales are not robust because consumer confidence is low and unemployment is above 10 percent. They also are buying stocks because other investments, such as Treasurys, don't offer the big returns that companies' shares do.

Preliminary figures by ShopperTrak, a research firm that tracks more than 50,000 outlets, showed that sales rose 0.5 percent on Friday, the start to the holiday shopping season. Online sales jumped 11 percent Thursday and Friday, according to comScore, an Internet research firm.

Investors have been worried that rising unemployment would make shoppers reluctant to spend during the holidays. Traders are already looking to the government's November unemployment report, which is due Friday, for clues about how consumers will spend during December and beyond.

The National Retail Federation, a trade group, said Sunday it still expects holiday sales to slip 1 percent compared with last year.

Benny Lorenzo, CEO of the investment bank Kaufman Bros. in New York said investors are cautious about holiday sales so far, but he also pointed to Internet retailers as one area of strength.

"Certainly in a market like this it could've been a lot worse for sure," he said.

A late-day report that Dubai was working on restructuring its debt gave stocks a lift. Investors, satisfied for the moment that credit problems in the Middle Eastern city-state of Dubai would be addressed without spreading, turned their attention to consumers, whose spending is the biggest driver of the U.S. economy.

According to preliminary calculations, the Dow rose 34.92, or 0.3 percent, to 10,344.84. The broader S&P 500 index rose 4.14, or 0.4 percent, to 1,095.63, and the Nasdaq composite index rose 6.16, or 0.3 percent, to 2,144.60.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume came to a moderate 1.3 billion shares.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.20 percent from 3.21 percent late Friday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.06 percent from 0.01 percent.

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

Ethan Anderson, a senior portfolio manager at Rehmann Financial in Grand Rapids, Mich., said record-low interest rates are leaving even hesitant investors with few options for generating decent returns, so they keep buying stocks although they're wary about whether the market can keep rising.

"A lot of investors right now are looking for a reason to get out," he said. "The question is where else can you put your money."

The stock market's modest moves came after stocks tumbled Friday on concern about Dubai's debt problems. The Dow ended with a loss of 155 points after being down more than 200 in the early going.

Investors were initially anxious about the possibility that a debt default by Dubai could touch off a new round of lending problems even as credit markets are still recovering from last year's near-shutdown following the collapse of Lehman Brothers.

The market drew some support from an unexpected improvement at factories. The Chicago Purchasing Managers index, which measures Midwestern manufacturing, rose to 56.1 in November from 54.2 in October. New orders rose and employment improved, while production expansion slowed.

Among retailers, Macy's slid 66 cents, or 3.9 percent, to $16.31, while Target Corp. fell $1.14, or 2.4 percent, to $46.56. Luxury department store Saks Inc. fell 42 cents, or 6.4 percent, to $6.11.

Online sellers advanced. Amazon jumped $4.17, or 3.2 percent, to $135.91, while eBay Inc. rose $1.25, or 5.4 percent, to $24.47.

Most financial stocks rose as fear about Dubai eased but American International Group Inc. tumbled on concerns that the insurer doesn't have adequate reserves to pay some potential claims. Todd Bault, a Sanford Bernstein analyst, said AIG faces an $11 billion shortfall to cover potential claims at its property and casualty insurance business, according to CNBC.

An AIG spokeswoman declined to comment. The stock fell $4.90, or 14.7 percent, to $28.40.

Light, sweet crude rose $1.40 to settle at $77.45 per barrel on the New York Mercantile Exchange after Britain said a racing yacht with five U.K. nationals aboard had been stopped by Iranian naval vessels and that they are now being held in Iran.

Overseas, Britain's FTSE 100, Germany's DAX and France's CAC-40 each lost 1.1 percent. Japan's Nikkei stock average rose 2.9 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Tempered concerns related Dubai's debt debacle prompted participants to put pressure on the U.S. dollar as they rotated into riskier plays. The move favored stocks, which logged impressive, broad-based gains.

Affirmations from Dubai World that it is working to restructure a smaller load of debt than initially feared helped calm concerns about a potential default by the state-owned conglomerate. On Monday afternoon word had begun to circulate that Dubai wanted to renegotiate the terms of $26 billion in debt, rather than the $60 billion that was first rumored.

The stock market is picking up where it left off before its scare over debt problems in Dubai.

Major stock indicators rose more than 1 percent Tuesday, including the Dow Jones industrial average, which jumped 126 points and traded above 10,500 for the first time since October of last year.

The weakening dollar again boosted stocks, a pattern that has played out for months. The cheaper U.S. currency drove up commodities prices and lifted the stocks of energy and materials companies that produce them.

The NYSE DOW closed HIGHER +126.74 points +1.23% on Tuesday December 1
Sym Last........ ........Change..........
Dow 10,471.58 +126.74 +1.23%
Nasdaq 2,175.81 +31.21 +1.46%
S&P 500 1,108.86 +13.23 +1.21%
30-yr Bond 4.2750% +0.0810

NYSE Volume 4,959,107,500 (prior 4,935,183,500)
Nasdaq Volume 2,186,073,500 (prior 2,014,800,000)

Oil 76.90 -0.56 -0.72%
Gold 1,186.90 +21.40 +1.84%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,312.17 +121.49 +2.34%
DAX 5,776.61 +150.66 +2.68%
CAC 40 3,775.74 +95.59 +2.60%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,572.20 +226.65 +2.43%
Hang Seng 22,113.15 +291.65 +1.34%
Straits Times 2,770.95 +38.83 +1.42%

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

Stocks climb as falling dollar boosts commodities

Stocks rise as dollar slides; reports on housing, construction point to improving economy

By Tim Paradis and Ieva M. Augstums, AP Business Writers
On 4:29 pm EST, Tuesday December 1, 2009

NEW YORK (AP) -- The stock market is picking up where it left off before its scare over debt problems in Dubai.

Major stock indicators rose more than 1 percent Tuesday, including the Dow Jones industrial average, which jumped 126 points and traded above 10,500 for the first time since October of last year.

The weakening dollar again boosted stocks, a pattern that has played out for months. The cheaper U.S. currency drove up commodities prices and lifted the stocks of energy and materials companies that produce them.

Analysts said a mostly upbeat array of economic reports and easing worries about the fallout from debt struggles in Dubai gave investors who had jumped out of the market last week reason to return.

The market's two-day advance leaves the Dow where it was before tumbling Friday on worries that an investment fund in Dubai wouldn't be able to pay its debts and might trigger another financial spiral like the one that followed the collapse of Lehman Brothers last year.

Rick Bensignor, chief market strategist at Execution LLC, said the drop in the dollar and a move into riskier assets like stocks is a sign that investors who moved into defensive positions are no longer worried about a spread of debt problems beyond the Middle East.

"The market has essentially shaken it off," he said. "The whole move is as if nothing happened last week."

Economic reports were mixed, but still pointed to a strengthening trend. The Institute for Supply Management, a trade group, said overall manufacturing activity grew at a slower pace in November but that new orders rose. That signals activity could pick up in the coming months. The ISM's measure of employment grew for the second straight month after sliding for more than a year.

The snapshot of U.S. factories followed a report from a Chinese industry group that said manufacturing activity grew in November for the ninth consecutive month.

Meanwhile, the National Association of Realtors said its reading on pending home sales rose in October to the strongest level since March 2006. Economists had expected pending sales to fall.

The Commerce Department said construction spending edged higher in October, the first increase in six months.

The reports gave investors more confidence that a nearly nine-month rally in the stock market still has legs thanks to continued signs of expansion in the economy. The Dow jumped 6.5 percent in November, its best monthly gain since July, and it's up 60 percent from a 12-year low of 6,547.05 in March.

According to preliminary calculations, the Dow rose 126.74, or 1.2 percent, to 10,471.58, its highest close since October last year.

The broader Standard & Poor's 500 index gained 13.23, or 1.2 percent, to 1,108.86, while the Nasdaq composite index rose 31.21, or 1.5 percent, to 2,175.81.

The ICE Futures U.S. dollar index, which measures the greenback against a basket of foreign currencies, fell 0.5 percent.

Crude oil rose $1.09 to settle at $78.37 per barrel on the New York Mercantile Exchange. Gold rose.

Bob Froehlich, senior managing director at Hartford Financial Services, said the day's news addressed some of investors' biggest worries: employment, housing and China's economy.

"What we're seeing is that we've got two of those three fixed," he said. "There are signs everywhere you look that the worst is behind us."

Froehlich said he expects the nation's unemployment rate, already above 10 percent, will worsen before it begins to improve.

Industrial names rose as commodities advanced after the reports on manufacturing and construction.

Aluminum producer Alcoa Inc. rose 28 cents, or 2.2 percent, to $12.80. Freeport-McMoRan Copper & Gold Inc. rose $1.11, or 1.3 percent, to $83.91.

Energy stocks also rose. Schlumberger Ltd., which provides services to oil companies, rose 76 cents, or 1.2 percent, to $64.65.

Home builders climbed on the day's economic reports. Beazer Homes USA Inc. advanced 16 cents, or 3.7 percent, to $4.46. Pulte Homes Inc. rose 17 cents, or 1.9 percent, to $9.31.

Richard Ross, global technical strategist at Auerbach Grayson in New York, said investors aren't willing to give up on the market's surge even if they have concerns it might be overdone.

"It speaks to that sort of bullish undercurrent," he said. "Whether it's misplaced optimism, that's another question."

Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 1.3 billion Monday.

The Russell 2000 index of smaller companies rose 9.47, or 1.6 percent, to 589.20.

Overseas markets jumped as fears eased about Dubai's credit problems. The emirate's government investment company said it was looking at restructuring part of its $60 billion in debt.

Britain's FTSE 100 rose 2.3 percent, Germany's DAX index advanced 2.7 percent, and France's CAC-40 rose 2.6 percent. Japan's Nikkei stock average added 2.4 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Some early buying sent the S&P 500 up to a fractionally better 2009 high, but a lack of support left stocks to roll over and settle at the neutral line. A firmer U.S. dollar also dragged down interest in stocks.

Despite a tepid tone to premarket trade, stocks made their way to solid gains in the early going. Materials stocks (+1.1%) were leaders, yet again, as precious metals prices continued to push higher. In fact, gold hit a new record high near $1218 per ounce overnight. It closed pit trade slightly off of that mark with a 1.1% gain at $1213 per ounce.

The stock market struggled but held its ground Wednesday as an upbeat assessment of the economy from the Federal Reserve offset drops in bank and energy stocks.

Most stocks finished higher after the Fed said regional economic activity has generally improved since its last snapshot in October. The central bank said consumers have increased spending even as employment and commercial real estate remain weak.

The Dow Jones industrial average slipped 19 points after gaining 162 points in the first two days of the week. Reports of analysts' warnings about bank stocks hurt financial shares, while a steep drop in oil weighed on energy companies.


The NYSE DOW closed LOWER -18.90 points -0.18% on Wednesday December 2
Sym Last........ ........Change..........
Dow 10,452.68 -18.90 -0.18%
Nasdaq 2,185.03 +9.22 +0.42%
S&P 500 1,109.24 +0.38 +0.03%
30-yr Bond 4.2740% -0.0010

NYSE Volume 4,601,624,500 (prior 4,959,107,500)
Nasdaq Volume 2,081,951,620 (prior 2,186,073,500)

Oil 76.90 -0.56 -0.72%
Gold 1,186.90 +21.40 +1.84%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,327.39 +15.22 +0.29%
DAX 5,781.68 +5.07 +0.09%
CAC 40 3,795.92 +20.18 +0.53%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,608.94 +36.74 +0.38%
Hang Seng 22,289.57 +176.42 +0.80%
Straits Times 2,796.34 +25.39 +0.92%

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

Stocks mostly rise as Fed sees improving economy

Most stocks climb as Fed says economy has improved, ADP report shows job losses declining
By Sara Lepro and Tim Paradis, AP Business Writers
On 5:38 pm EST, Wednesday December 2, 2009

NEW YORK (AP) -- The stock market struggled but held its ground Wednesday as an upbeat assessment of the economy from the Federal Reserve offset drops in bank and energy stocks.

Most stocks finished higher after the Fed said regional economic activity has generally improved since its last snapshot in October. The central bank said consumers have increased spending even as employment and commercial real estate remain weak.

The Dow Jones industrial average slipped 19 points after gaining 162 points in the first two days of the week. Reports of analysts' warnings about bank stocks hurt financial shares, while a steep drop in oil weighed on energy companies.

A mixed reading on the labor market kept trading subdued. The ADP National Employment Report said private companies cut 169,000 jobs in November, fewer than in October but worse than the 160,000 cuts expected by economists polled by Thomson Reuters. It was the eighth monthly drop.

Investors are focused on the job market, which remains weak despite signs of life in manufacturing, housing and other parts of the economy.

"It all falls apart if you don't get jobs to come around," said Bill Stone, chief investment strategist at PNC Wealth Management.

The ADP report doesn't represent the entire economy but is often seen as a good indicator of what will emerge in the government's monthly employment report, which is due on Friday. Economists are expecting the unemployment rate remained flat at 10.2 percent in November.

A rising dollar also cooled the market's advance.

Investors are struggling to determine whether the massive gains in the stock market since early March are justified by an improving economy or if they're overdone. Analysts have been worried that the nascent recovery could be threatened by economic problems overseas or missteps by the government and the resulting gyrations in the dollar. Concerns over a potential debt crisis in the Middle Eastern city-state of Dubai pushed stock markets lower last week.

The Dow fell 18.90, or 0.2 percent, to 10,452.68, pulling off of a 14-month high reached Tuesday. The Standard & Poor's 500 index edged up 0.38, or less than 0.1 percent, to 1,109.24, and the Nasdaq composite index rose 9.22, or 0.4 percent, to 2,185.03.

Two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1 billion shares compared with 1.1 billion Tuesday.

The listless trading followed modest gains Monday and a surge Tuesday driven by a weaker dollar and higher commodities prices. A months-long slide in the dollar, the result of rock-bottom interest rates, has encouraged investors to buy riskier assets that have the potential to earn better returns.

Analysts say trading likely will remain choppy through the rest of the year as some investors look to lock in the gains they've amassed in the rally since March.

Trading in foreign exchange, commodities and debt markets was mixed as traders remained cautious.

"People don't know where to go," Stone said. "That wait-and-see attitude has kicked in."

The ICE Futures US dollar index, which measures the dollar against other major currencies, edged up 0.3 percent.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.31 percent from 3.29 percent late Tuesday.

Gold surged to a record $1,218.40 an ounce. Oil prices fell $1.77 to settle at $76.60 a barrel on the New York Mercantile Exchange after the Energy Department said demand for gasoline fell during the Thanksgiving week, when gas sales usually rise because of holiday travel.

Among financial stocks, Bank of America fell 24 cents, or 1.5 percent, to $15.65, while Wells Fargo & Co. slid 54 cents, or 1.9 percent, to $27.45 on reports that some analysts voiced concerns about industry profits next year.

Meanwhile, Chesapeake Energy Corp. fell 70 cents, or 2.9 percent, to $23.40 as oil fell. Occidental Petroleum Corp. slid 97 cents, or 1.2 percent, to $81.21.

The Russell 2000 index of smaller companies rose 6.89, or 1.2 percent, to 596.09.

Overseas, Britain's FTSE 100 gained 0.3 percent, Germany's DAX index rose 0.1 percent, and France's CAC-40 added 0.5 percent. Japan's Nikkei stock average rose 0.4 percent.

 

[bigdog]

Source: http://finance.yahoo.com

A late-day slide pulled stocks lower ahead of the government's report on November unemployment.

Stocks began falling in the final half-hour of trading Thursday and the drop intensified in the last 20 minutes. The Labor Department's November unemployment report is due before the start of trading Friday.

Worries about the economy had been dogging investors following a weak snapshot of the service industry early Thursday. The Institute for Supply Management said its index of activity in the service industry fell to 48.7 in November from 50.6 in October. That was below what analysts had been expecting and signaled contraction.


The NYSE DOW closed LOWER -86.53 points -0.83% on Thursday December 3
Sym Last........ ........Change..........
Dow 10,366.15 -86.53 -0.83%
Nasdaq 2,173.14 -11.89 -0.54%
S&P 500 1,099.92 -9.32 -0.84%
30-yr Bond 4.3290% +0.0550

NYSE Volume 5,556,672,000 (prior 4,601,624,500)
Nasdaq Volume 2,023,405,000 (prior 2,081,951,620)

Oil 76.90 -0.56 -0.72%
Gold 1,186.90 +21.40 +1.84%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,313.00 -14.39 -0.27%
DAX 5,770.35 -11.33 -0.20%
CAC 40 3,799.11 +3.19 +0.08%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,977.67 +368.73 +3.84%
Hang Seng 22,553.87 +264.30 +1.19%
Straits Times 2,808.18 +11.84 +0.42%

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

Late-day slide hits stocks ahead of jobs report
Stocks slide ahead of November jobs report; service industry report renews economic worries

By Tim Paradis, AP Business Writer
On 4:59 pm EST, Thursday December 3, 2009
Buzz up! 1 Print
Companies:Bank Of America CorporationComcast CorporationGeneral Electric Co.
NEW YORK (AP) -- A late-day slide pulled stocks lower ahead of the government's report on November unemployment.

Stocks began falling in the final half-hour of trading Thursday and the drop intensified in the last 20 minutes. The Labor Department's November unemployment report is due before the start of trading Friday.

Worries about the economy had been dogging investors following a weak snapshot of the service industry early Thursday. The Institute for Supply Management said its index of activity in the service industry fell to 48.7 in November from 50.6 in October. That was below what analysts had been expecting and signaled contraction.

The market drew some support from a Labor Department report that new claims for unemployment benefits fell unexpectedly for the fifth straight week.

The number of laid-off workers seeking unemployment benefits fell by 5,000 last week, in a hopeful sign of improvement in the job market. Economists had expected an increase, according to a survey by Thomson Reuters.

The Nasdaq composite index saw more modest losses after Comcast Corp. said it agreed to buy a majority stake in NBC Universal for $13.75 billion. The long-awaited deal gives the nation's largest cable TV operator control of the TV network as well as several cable channels and a major movie studio.

The stock market's drop followed steep gains early in the week and mixed trading Tuesday. A surge in stocks has lasted nearly nine months and some analysts worry that the market's advance is outpacing gains in the economy.

According to preliminary calculations, the Dow Jones industrial average fell 86.53, or 0.8 percent, to 10,366.15. The broader Standard & Poor's 500 index fell 9.32, or 0.8 percent, to 1,099.92, while the Nasdaq composite index fell 11.89, or 0.5 percent, to 2,173.14.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.38 percent from 3.32 percent late Wednesday.

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

Crude oil fell 14 cents to settle at $76.46 on the New York Mercantile Exchange.

Burt White, chief investment officer at LPL Financial in Boston, said the occasional downbeat economic reports aren't likely to derail the market as investors continue to see longer-term improvements in the economy.

"We do hit some speed bumps on the road and today we hit a couple, especially with ISM, but we're still pretty bullish that stocks have a way to go," he said.

Federal Reserve Chairman Ben Bernanke appeared on Capitol Hill for confirmation hearings for a second, four-year term. Bernanke told the Senate Banking Committee that he would work with lawmakers to reshape the country's financial regulatory setup as well as to rein in supports for the economy as a recovery takes hold.

Shares of Comcast rose $1.06, or 7.5 percent, to $15.24. General Electric Co., NBC's parent since 1986, fell 7 cents to $16.

Bank of America rose 11 cents to $15.76 after announcing late Wednesday it would repay its $45 billion in government bailout money.

Two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.1 billion shares compared with 1 billion Wednesday.

The Russell 2000 index of smaller companies fell 7.31, or 1.2 percent, to 588.78.

Overseas, Britain's FTSE 100 fell 0.3 percent, while Germany's DAX index fell 0.2 percent, and France's CAC-40 rose 0.1 percent. Japan's Nikkei stock average rose 3.8 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 78.98, or 0.8 percent, at 10,388.90. The Standard & Poor's 500 index rose 14.49, or 1.3 percent, to 1,105.98. The Nasdaq composite index rose 55.91, or 2.6 percent, to 2,194.35.

Better-than-expected unemployment numbers prompted participants to drive stocks to new 2009 highs in the early going, but the news was quickly sold. In turn, Friday made for the third straight session that stocks set fractionally better 2009 highs, but failed to sustain gains.

Investors grew more confident about the economy but also worried that a brighter employment picture will mean rising interest rates.

Stocks closed higher Friday but only after giving up much of their earlier gains. Indexes touched new highs for year in the morning following news that job cuts fell sharply in November, but that report also brought expectations that the Federal Reserve could hike rates or remove other supports from the economy. Treasurys and gold fell as demand for safe-haven investments eased.

Jitters about interest rates left the Dow Jones industrial average with a gain of just 23 points, having been up as much as 151 points earlier. Stocks rose for the week.

The NYSE DOW closed HIGHER +22.75 points +0.22% on Friday December 4
Sym Last........ ........Change..........
Dow 10,388.90 +22.75 +0.22%
Nasdaq 2,194.35 +21.21 +0.98%
S&P 500 1,105.98 +6.06 +0.55%
30-yr Bond 4.4130% +0.0840

NYSE Volume 7,250,836,000 (prior 5,556,672,000)
Nasdaq Volume 2,340,521,000 (prior 2,023,405,000)

Oil 76.90 -0.56 -0.72%
Gold 1,186.90 +21.40 +1.84%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,322.36 +9.36 +0.18%
DAX 5,817.65 +47.30 +0.82%
CAC 40 3,846.62 +47.51 +1.25%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,022.59 +44.92 +0.45%
Hang Seng 22,498.15 -55.72 -0.25%
Straits Times 2,791.01 -17.17 -0.61%

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

Stocks climb as employers cut fewer jobs

Stocks rise as better jobs picture leads to worries that Fed will take away economic supports

By Tim Paradis, AP Business Writer
On 5:53 pm EST, Friday December 4, 2009

NEW YORK (AP) -- Investors grew more confident about the economy but also worried that a brighter employment picture will mean rising interest rates.

Stocks closed higher Friday but only after giving up much of their earlier gains. Indexes touched new highs for year in the morning following news that job cuts fell sharply in November, but that report also brought expectations that the Federal Reserve could hike rates or remove other supports from the economy. Treasurys and gold fell as demand for safe-haven investments eased.

Jitters about interest rates left the Dow Jones industrial average with a gain of just 23 points, having been up as much as 151 points earlier. Stocks rose for the week.

The prospects of increased rates also led to a sharp rise in the dollar, which hurt prices for commodities including oil.

The Labor Department said the economy shed 11,000 jobs last month, the smallest monthly loss since December 2007, when the recession began. That's much better than the 130,000 losses Wall Street economists expected and an improvement from 111,000 jobs cuts in October.

The unemployment rate fell to 10 percent from a 26-year high of 10.2 percent in October. Economists had expected the rate to remain unchanged.

Stocks have been rising for nine months on hopes of a recovery, but investors have been worried that lingering unemployment would hold the economy back. The gains in stocks also come as the Fed's policy of low interest rates and extraordinary supports for the financial system have flooded financial markets with cash. Investors are now on edge about how markets will respond when policymakers begin to withdraw some of those measures.

Phil Orlando, chief equity market strategist at Federated Investors in New York, said the jobs report could draw investors into the market who had been skeptical about how well the economy was doing.

"This number was just phenomenal," said Phil Orlando, chief equity market strategist at Federated Investors in New York. "That sound you heard was bears fainting all across America and hitting their head on the pavement."

The Dow ended with a gain of 22.75, or 0.2 percent, to 10,388.90 after reaching a 2009 high of 10,516.70 in early trading. The Dow lagged broader indexes after DuPont, the chemicals company, warned it would delay release of several products.

The Standard & Poor's 500 index rose 6.06, or 0.6 percent, to 1,105.98, after setting a 2009 high of 1,119.13.

The Nasdaq composite index rose 21.21, or 1 percent, to 2,194.35, reaching a high for the year of 2,214.39.

For the week, the Dow rose 0.8 percent, the S&P 500 index added 1.3 percent and the Nasdaq advanced 2.6 percent.

The jobs report weighed on bond prices, pushing yields higher. The benchmark 10-year Treasury note fell about a point, pushing its yield up to 3.48 percent from 3.38 percent late Thursday.

A rise in the dollar held back an advance on the stock market. For months, stocks have fallen when the dollar strengthens because a rising greenback makes commodities more expensive for foreign buyers and can eat into the profits U.S. companies collect from overseas.

The ICE Futures U.S. dollar index, which measures the greenback against a basket of foreign currencies, rose 1.4 percent.

Gold fell $78.80 to $1,169.50 an ounce on the New York Mercantile Exchange. Meanwhile, crude oil fell 99 cents to settle at a seven-week low of $75.47 a barrel.

Charlie Smith, chief investment officer at Fort Pitt Capital in Pittsburgh, said some traders are worrying that the Fed will try to wean big banks from low-cost loans and disrupt trades that have been profitable this year. He contends that spoiling the easy trades could prompt banks to boost lending as they look for more places to put their money.

"It forces the bankers to be bankers instead of just sort of taking the free money from the Fed and buying Treasurys with it," Smith said.

The week began as the market closed a strong November. The S&P 500 index advanced 5.7 percent for the month, its biggest increase since July. The index, which is used to measure many investments like mutual funds, has risen 63.5 percent from a 12-year low in March.

Stocks recovered during the week from worries that debt problems in the Middle Eastern city-state of Dubai would trigger a wave of credit problems like the kind that felled the brokerage Lehman Brothers last year.

Investors will have fewer economic reports to go on next week, but are likely to again take cues from the direction of the dollar. Reports are due on retail sales and consumer sentiment.

Among stocks, DuPont fell $2.49, or 7.2 percent, to $32.34 after the company said it would delay release of certain corn and soybean seeds.

Two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 6 billion shares compared with 4.9 billion Thursday.

The Russell 2000 index of smaller companies rose 14.01, or 2.4 percent, to 602.79.

Overseas, Britain's FTSE 100 rose 0.2 percent, Germany's DAX index rose 0.8 percent, and France's CAC-40 jumped 1.3 percent. Japan's Nikkei stock average rose 0.5 percent.

The Dow Jones industrial average closed the week up 78.98, or 0.8 percent, at 10,388.90. The Standard & Poor's 500 index rose 14.49, or 1.3 percent, to 1,105.98. The Nasdaq composite index rose 55.91, or 2.6 percent, to 2,194.35.

The Russell 2000 index, which tracks the performance of small company stocks, rose 25.58, or 4.4 percent, for the week to 602.79.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,231.20, up 183.08, or 1.7 percent.
8798

 

[bigdog]

Source: http://finance.yahoo.com

Stocks spent the entire session mired in weakness as cautionary comments about the U.S. debt rating and strength in the U.S. dollar weighed on the minds of participants. Broader sentiment remains mixed, though, as participants continue to assess the market's near-term direction.
Investors dumped stocks and sought safe-haven assets like the dollar and Treasurys on signs that the global economy is still struggling.

The Dow Jones industrial average lost 104 points Tuesday but recovered some of its earlier losses.

A disappointing earnings forecast from Dow Jones industrials component 3M Co. and a weak sales report from McDonald's Corp., another Dow company, pulled stocks lower. The reports overshadowed an increased profit forecast from FedEx Corp.

The NYSE DOW closed LOWER -104.14 points -1.00% on Tuesday December 8
Sym Last........ ........Change..........
Dow 10,285.97 -104.14 -1.00%
Nasdaq 2,172.99 -16.62 -0.76%
S&P 500 1,091.94 -11.31 -1.03%
30-yr Bond 4.3800% -0.0260

NYSE Volume 5,426,381,000
Nasdaq Volume 2,008,919,750

Oil 76.90 -0.56 -0.72%
Gold 1,186.90 +21.40 +1.84%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,223.13 -87.53 -1.65%
DAX 5,688.58 -96.17 -1.66%
CAC 40 3,785.30 -54.75 -1.43%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,140.47 -27.13 -0.27%
Hang Seng 22,060.52 -264.44 -1.18%
Straits Times 2,805.50 +8.52 +0.30%

http://finance.yahoo.com/news/Stock-market-drops-as-dollar-apf-2963584558.html?x=0

Stock market drops as dollar strengthens

Stocks slump as dollar strengthens, investors seek safe havens; Dow industrials fall 104
By Sara Lepro and Tim Paradis, AP Business Writers
On 4:28 pm EST, Tuesday December 8, 2009

NEW YORK (AP) -- Investors dumped stocks and sought safe-haven assets like the dollar and Treasurys on signs that the global economy is still struggling.

The Dow Jones industrial average lost 104 points Tuesday but recovered some of its earlier losses.

A disappointing earnings forecast from Dow Jones industrials component 3M Co. and a weak sales report from McDonald's Corp., another Dow company, pulled stocks lower. The reports overshadowed an increased profit forecast from FedEx Corp.

Reports in Britain and Germany signaled that manufacturing remains weak, while Japan's government approved $81 billion in stimulus measures to keep its economy out of recession. Credit rating agencies warned about debt problems in Dubai and Greece.

Investors sent the dollar and Treasury prices higher in response to the day's news. Commodities fell as the dollar rose. A stronger dollar makes commodities more expensive for buyers overseas, and hurts profits at companies that have large international operations.

After the huge rally in stocks and commodities this year, investors are looking for clues about where the economy is headed and how best to position their portfolios for next year. Investors are uncertain of how long the environment of low interest rates and a weak dollar that helped fuel the market's rally will last.

Philip S. Dow, managing director of equity strategy at RBC Wealth Management in Minneapolis, said 3M's forecast drew attention from FedEx and that the day's retreat is in order after the steep gains in stocks over all.

"People were so enthused with FedEx then got a little disappointed with 3M," he said. "I just think it's a rest."

At the same time, there are still plenty of doubts about the economic recovery to drive cautious investors to pad their portfolios with safe havens. With the Standard & Poor's 500 index up 63.1 percent since early March, many investors are looking to protect their gains.

Stocks came off their lows of the day as President Barack Obama proposed spending on infrastructure projects as well as increased tax cuts for small businesses.

The speech comes after the government's unemployment report Friday showed far fewer job losses in November than expected. However investors still have doubts about how strong a recovery will be with one in 10 Americans out of work.

According to preliminary calculations, the Dow fell 104.14, or 1 percent, to 10,285.97. The Dow fell as much as 140 points.

The broader Standard & Poor's 500 index fell 11.31, or 1 percent, to 1,091.94, while the Nasdaq composite index fell 16.62, or 0.8 percent, to 2,172.99.

Stocks finished little changed on Monday after reassurance from Fed Chairman Ben Bernanke that interest rates will remain low to support a recovery failed to galvanize investors.

Shares of 3M fell after the consumer products maker predicted adjusted earnings of $4.50 to $4.55 per share for the full year. That's below a profit of $4.57 per share forecast by analysts. The stock fell 80 cents, or 1 percent, to $77.11.

McDonald's fell $1.32, or 2.1 percent, to $60.61 after the world's largest fast-food chain said monthly sales in the U.S. fell in November.

FedEx raised its earnings forecast for the November quarter late Monday. Shares of the package delivery company rose $2.36, or 2.7 percent, to $89.88. Investors watch FedEx because the volume of its business is seen as an indicator of the overall strength of the economy.

The Kroger Co. tumbled $2.72, or 11.9 percent, to $20.13 after the nation's largest grocery chain posted an unexpected loss and lowered its sales and profit forecasts for the year as price competition cuts into its business.

Beyond the corporate news, analysts said the rising dollar dominated trading.

Peter Cardillo, chief market economist at the brokerage Avalon Partners Inc. in New York, predicts the dollar will resume its slide and remove pressure from stocks.

"This is a short-term correction in the dollar and the same with the other markets and I don't think it's going to be long-lasting," he said.

The slump in stocks and gains in Treasurys came as credit rating agencies pointed to what they saw as ominous debt loads around the world. One agency cut its ratings on six Dubai state-linked companies due to worries about their growing debts. Two weeks ago debt problems in Dubai pushed world markets down sharply as investors worried that the troubles would unleash a wave of failing debt.

Meanwhile, Fitch Ratings lowered Greece's credit rating Tuesday because of growing debt.

Moody's Investors Services also said the state of public finances in the U.S. and Britain are troubling.

Bond prices rose, sending yields lower. The yield on the benchmark 10-year Treasury note fell to 3.39 percent from 3.43 percent late Monday.

The ICE Futures US dollar index, which tracks the dollar against other major currencies, rose 0.6 percent.

Gold prices fell for a third straight day.

Crude oil fell $1.31 to settle at $72.62 per barrel on the New York Mercantile Exchange.

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

The Russell 2000 index of smaller companies fell 5.86, or 1 percent, to 597.70.

Overseas, Britain's FTSE 100 fell 1.7 percent, Germany's DAX index slid 1.7 percent, and France's CAC-40 fell 1.4 percent. Japan's Nikkei stock average fell 0.3 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Frequent swings by the U.S. dollar caused stocks to spend most of the session chopping along in a relatively narrow range, but some late support helped the major equity averages make modest gains. Still, the action hasn't provided any clarity to the market's near-term direction.

Stocks slipped in early trade as the greenback trimmed its losses against competing currencies. The dollar's move came as word surfaced that Standard & Poor's revised its outlook for Spain to negative from stable. The news release came a day after Greece's credit rating was cut by Fitch and Moody's made cautionary comments regarding the potential consequences of the ballooning deficits of the U.S. and U.K

Investors set aside some of their concerns about mounting debt levels around the world and looked for bargains after a two-day slide in stocks.

Stocks turned higher late Wednesday after a day of back-and-forth trading. Investors have been cautious about rising government debt levels in Spain, Greece and other countries.

The Dow Jones industrial average rose 51 points to regain about half of what it lost a day earlier.

The NYSE DOW closed HIGHER +51.08 points +0.50% on Wednesday December 9
Sym Last........ ........Change..........
Dow 10,337.05 +51.08 +0.50%
Nasdaq 2,183.73 +10.74 +0.49%
S&P 500 1,095.95 +4.01 +0.37%
30-yr Bond 4.41% +0.03

NYSE Volume 4,798,440,500 (prior 5,426,381,000)
Nasdaq Volume 1,917,442,000 (prior 2,008,919,750)

Oil 76.90 -0.56 -0.72%
Gold 1,186.90 +21.40 +1.84%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,203.89 -19.24 -0.37%
DAX 5,647.84 -40.74 -0.72%
CAC 40 3,757.39 -27.91 -0.74%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,004.72 -135.75 -1.34%
Hang Seng 21,741.76 -318.76 -1.44%
Straits Times 2,797.21 -8.29 -0.30%

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

Stocks climb as investors shrug off debt concerns

Stocks advance after slide as investors look past concerns about global debt; Dow adds 51

By Sara Lepro and Tim Paradis, AP Business Writers
On 4:42 pm EST, Wednesday December 9, 2009

NEW YORK (AP) -- Investors set aside some of their concerns about mounting debt levels around the world and looked for bargains after a two-day slide in stocks.

Stocks turned higher late Wednesday after a day of back-and-forth trading. Investors have been cautious about rising government debt levels in Spain, Greece and other countries.

The Dow Jones industrial average rose 51 points to regain about half of what it lost a day earlier.

Investors spent much of the day looking for safety following a decision by credit rating agency Standard & Poor's to reduce the outlook on Spain's debt rating.

S&P's move came a day after another agency lowered its credit rating on Greece's government. Investors have been watchful for other signs of problems with global debt ever since a state-run company in Dubai shocked investors two weeks ago by asking its creditors for a debt reprieve.

Meanwhile, stocks again followed moves in the dollar, as they have for months. When it falls, the dollar makes commodities cheaper for foreign buyers and increase profits for U.S. companies that do business outside the U.S.

The dollar has steadied this week against other major currencies, interrupting a steady drop since March. The greenback has fallen as investors take advantage of cheap financing to invest in riskier, higher-yielding assets like stocks and commodities. Signs that the economy is improving have cut into demand for safe-haven investments.

In recent weeks, however, investors have been shuttling between buying stocks and hoarding cash as they try to lock in some of the big gains they've amassed in stocks since a rally started in March.

As the end of the year approaches, many investors have been building up defensive investments like Treasurys. The uncertain tone in the market, combined with light trading volume, has made for choppy trading, which analysts expect to continue through the rest of the year.

Tom Phillips, president of TS Phillips Investments in Oklahoma City, said he expects the dollar will lose its pull over the stock market because so many traders have placed bets that the currency will fall and boost stocks.

"When everybody understands the game the game doesn't work as well," he said. "I think it will just fray and start to erode."

According to preliminary calculations, the Dow rose 51.08, or 0.5 percent, to 10,337.05 after falling 104 on Tuesday. The S&P 500 index rose 4.01, or 0.4 percent, to 1,095.95, while the Nasdaq composite index rose 10.74, or 0.5 percent, to 2,183.73.

The ICE Futures US dollar index, which tracks the dollar against other major currencies, fell 0.3 percent.

Investors grew concerned that heavy debt loads in countries like Greece and Spain as well as the U.S. and Britain could signal that the threat of defaults and higher borrowing costs could upend a nascent global economic rebound.

While investors want to see the economy grow, they also know that the Federal Reserve could raise interest rates and remove other stimulus measures once the economy appears to be on solid footing. Higher rates could make stocks look less appealing as returns for other investments improve, potentially upsetting a nine-month advance in stocks that has lifted the S&P 500 index by 61.4 percent.

Not all the day's news was downbeat. The Commerce Department reported that businesses added to inventories at the wholesale level in October after a record 13 straight months of reductions. Investors hope it is a sign that businesses will soon start restocking store shelves. Wholesale inventories rose 0.3 percent in October; economists had expected a 0.5 percent drop.

Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors in Albany, N.Y., said signs of improvement in the economy are disrupting advances in the markets because traders predict the Fed will be forced to raise interest rates sooner than expected to keep inflation in check.

The government reported Friday that employers cut the fewest jobs in November since the recession began two years ago. The figures were far better than expected and prompted a re-evaluation of where the Fed stands, despite comments from Fed Chairman Ben Bernanke that interest rates will remain low.

"That's going to be tough to defend," Johnson said, referring to the Fed's stance on rates. "That's why investors have started to rethink all of the things that have made money over the past nine months."

In other trading, Treasurys fell, sending yields higher. The yield on the benchmark 10-year Treasury note rose to 3.44 percent from 3.39 percent late Tuesday.

An analyst upgrade of manufacturing conglomerate 3M Co. helped lift the Dow industrials after it dragged the index down after issuing a profit forecast that disappointed investors. 3M rose $2.63, or 3.4 percent, to $79.74.

Gold slid, while oil fell $1.95 to settle at $70.67 per barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 0.33, or 0.1 percent, to 598.03.

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

Overseas, Britain's FTSE 100 fell 0.4 percent, Germany's DAX index and France's CAC-40 each lost 0.7 percent. Japan's Nikkei stock average fell 1.3 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks spent the session in a sideways chop, but managed to settle with solid gains. The advance came in the face of modest strength in the U.S. dollar, weakness among financial issues, and a mixed weekly jobless claims report. Participation lacked for most of the session, though.

Trade was choppy for the entire session, but that didn't take stocks out of a relatively narrow range, nor did it derail a broad-based advance. There was a flurry of selling late in the session that caused stocks to surrender some of their gains, but the broader market was able to garner support as the S&P 500 came in contact with the 1100 mark.

In the end, advancing issues outnumbered decliners by more than 2-to-1. As broad as the advance was, it was even more impressive since it came despite a stronger dollar. Gains by the greenback have most often led to selling in the stock market, due to the drag of a stronger dollar on commodity prices and repatriated profits from multinationals, but stocks were able to hold their gains as the Dollar Index worked its way to a 0.1% gain.

Stock indexes rose Thursday as a jump in exports offset concerns about an increase in weekly unemployment claims.

A weaker dollar is lifting demand for U.S. goods, which become less expensive for foreign buyers when the greenback falls. The Commerce Department said a rise in exports helped narrow the nation's trade gap to $32.9 billion in October. Economists had been expecting an increase. Exports rose 2.5 percent, the sixth straight monthly increase.

James Cox, managing partner at Harris Financial Group in Colonial Heights, Va., said the increased demand for U.S. goods will help boost the nation's economy.

The NYSE DOW closed HIGHER +68.78 points +0.67% on Thursday December 10
Sym Last........ ........Change..........
Dow 10,405.83 +68.78 +0.67%
Nasdaq 2,190.86 +7.13 +0.33%
S&P 500 1,102.35 +6.40 +0.58%
30-yr Bond 4.4920% +0.0840

NYSE Volume 4,598,088,000 (prior 4,798,440,500)
Nasdaq Volume 1,950,550,880 (prior 1,917,442,000)

Oil 76.90 -0.56 -0.72%
Gold 1,186.90 +21.40 +1.84%


Europe
Symbol... Last...... .....Change.......
FTSE 100 5,244.37 +40.48 +0.78%
DAX 5,709.02 +61.18 +1.08%
CAC 40 3,798.38 +40.99 +1.09%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 9,862.82 -141.90 -1.42%
Hang Seng 21,700.04 -41.72 -0.19%
Straits Times 2,781.86 -15.35 -0.55%

http://finance.yahoo.com/news/Stocks-rise-as-trade-deficit-apf-2110216808.html?x=0

Stocks rise as trade deficit narrows in October

Stocks climb as rise in exports offsets worries about increase in weekly unemployment claims

By Sara Lepro and Tim Paradis, AP Business Writers
On 4:25 pm EST, Thursday December 10, 2009

NEW YORK (AP) -- Stock indexes rose Thursday as a jump in exports offset concerns about an increase in weekly unemployment claims.

A weaker dollar is lifting demand for U.S. goods, which become less expensive for foreign buyers when the greenback falls. The Commerce Department said a rise in exports helped narrow the nation's trade gap to $32.9 billion in October. Economists had been expecting an increase. Exports rose 2.5 percent, the sixth straight monthly increase.

James Cox, managing partner at Harris Financial Group in Colonial Heights, Va., said the increased demand for U.S. goods will help boost the nation's economy.

"These smaller trade balances are great news," Cox said. "Any time you have a small trade balance, that will really contribute greatly to GDP."

The trade figures helped offset mixed jobs numbers. The Labor Department said the number of laid-off workers seeking jobless benefits rose more than expected last week to 474,000 after falling for five straight weeks, slightly higher than analysts were expecting. However the four-week average, which is less volatile, fell to the lowest level since September 2008.

The gains in stocks came as the dollar stabilized. For months, stocks and the dollar have moved in the opposite direction. Record-low U.S. interest rates have pressured the dollar for much of this year, leading investors to buy assets like stocks and commodities that can earn better returns than cash.

In recent weeks, signs of improvement in the economy have brought expectations that the Federal Reserve might raise interest rates sooner than expected. That would strengthen the dollar.

Anthony Chan, chief economist at JPMorgan Private Wealth Management in New York, said the rise in weekly unemployment claims eroded some of the enthusiasm over rising exports.

"That is what's preventing the market from really galloping higher," Chan said.

According to preliminary calculations, the Dow Jones industrial average rose 66.78, or 0.7 percent, to 10,405.83, pushing it back into the winning column for the month.

The Standard & Poor's 500 index rose 6.40, or 0.6 percent, to 1,102.35, while the Nasdaq composite index rose 7.13, or 0.3 percent, to 2,190.86.

Chan said investors are not only eager to safeguard their gains as the end of the year approaches but are also harder to impress following the government's report last week that employers cut fewer jobs in November than at any time since the recession began two years ago.

"It raises the hurdle to get the market excited," he said.

The S&P 500 index is up 22 percent for the year after a nine-month rally but hasn't gained much ground in the past month.

In other trading, Treasury prices fell for a second day after an auction of 30-year bonds drew weak demand. The slump in prices for long-dated bonds pushed yields higher. The yield on the benchmark 10-year Treasury note rose to 3.48 percent from 3.44 percent late Wednesday, while the yield on the 30-year bond rose to 4.49 percent from 4.42 percent.

Gold rose after a four-day slide, while oil fell for a seventh day, losing 13 cents to settle at $70.54 a barrel at the New York Mercantile Exchange.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 1.1 billion, in line with Wednesday.

The Russell 2000 index of smaller companies fell 2.65, or 0.4 percent, to 595.38.

Britain's FTSE 100 rose 0.8 percent, Germany's DAX index rose 1.1 percent, while France's CAC-40 rose 1.1 percent. Japan's Nikkei stock average fell 1.4 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow rose 0.8 percent for the week, its second straight weekly gain. The S&P 500 index rose for a third straight week, edging up less than 0.1 percent. The Nasdaq slipped 0.2 percent for the week.

With help from some positive data, the stock market was able to log a modest gain in the face of a firmer dollar for the second straight session, but stocks still finished flat for the week. Such sideways movement is consistent with the stock market's trend for the past month, though.

Action was choppy this session, but stocks held firmly higher. The only move lower by the S&P 500 was met with support at the neutral line.

Encouraging news about how consumers feel about the economy and how much they're spending sent stocks higher on Friday.

The strong showing in retail sales last month raised hopes that consumers are starting to feel more comfortable opening their wallets after months of building savings. The 1.3 percent increase was more than double the gain that analysts had forecast.

The government's retail report came as a relief to many investors who have been frustrated that consumer spending, a mainstay of the U.S. economy, has remained in a funk even as other parts of the economy recover.

The NYSE DOW closed HIGHER +65.67 points +0.63% on Friday December 11
Sym Last........ ........Change..........
Dow 10,471.50 +65.67 +0.63%
Nasdaq 2,190.31 -0.55 -0.03%
S&P 500 1,106.41 +4.06 +0.37%
30-yr Bond 4.4970% +0.0050

NYSE Volume 4,408,781,000 (prior 4,598,088,000)
Nasdaq Volume 1,762,508,880 (prior 1,950,550,880)

Oil 76.90 -0.56 -0.72%
Gold 1,186.90 +21.40 +1.84%

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,261.57 +17.20 +0.33%
DAX 5,756.29 +47.27 +0.83%
CAC 40 3,803.72 +46.33 +1.23%


Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,107.87 +245.05 +2.48%
Hang Seng 21,902.11 +202.07 +0.93%
Straits Times 2,800.75 +18.89 +0.68%

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

Stronger retail sales and sentiment boost stocks

Big jump in retail sales sends stocks higher for 3rd day; Consumer confidence rebounds
By Sara Lepro and Tim Paradis, AP Business Writers
On 5:56 pm EST, Friday December 11, 2009

NEW YORK (AP) -- Encouraging news about how consumers feel about the economy and how much they're spending sent stocks higher on Friday.

The strong showing in retail sales last month raised hopes that consumers are starting to feel more comfortable opening their wallets after months of building savings. The 1.3 percent increase was more than double the gain that analysts had forecast.

The government's retail report came as a relief to many investors who have been frustrated that consumer spending, a mainstay of the U.S. economy, has remained in a funk even as other parts of the economy recover.

A separate report showing an increase in consumer confidence signaled that spending could continue to rise. The preliminary Reuters/University of Michigan consumer sentiment index increased more than expected in December.

In another welcome sign, the Commerce Department reported a 0.2 percent gain in business inventories in October, breaking a 13-month streak of declines. That's a signal that businesses expect consumers to step up their purchases.

Hopes of an economic rebound have driven stocks sharply higher for nine months, but the advance has slowed in the past month as investors lock in the year's huge returns and question what catalysts there might be to power the market higher next year.

Stephen Wood, chief market strategist at Russell Investments, said the day's reports help confirm that the economy is on the right track.

"We're going from the first global recession in 70 years to a tepid, but very real global growth story," he said.

The Dow Jones industrial average rose 65.67, or 0.6 percent, to 10,471.50. The Standard & Poor's 500 index gained 4.06, or 0.4 percent, to 1,106.41, while the Nasdaq composite index slipped 0.55, or less than 0.1 percent, to 2,190.31.

Stocks and the dollar seesawed during the week as investors tried to determine where the economy and interest rates are headed. After a stronger dollar sent the Dow down 104 points on Tuesday, stocks rebounded in the final three days of the week.

The Dow rose 0.8 percent for the week, its second straight weekly gain. The S&P 500 index rose for a third straight week, edging up less than 0.1 percent. The Nasdaq slipped 0.2 percent for the week.

Friday's gains in stocks came even as the dollar rose. The ICE Futures US dollar index rose 0.7 percent.

For months, stocks and commodities have moved in the opposite direction of the dollar. The dollar has been falling for much of this year as low interest rates make other assets like stocks and commodities more attractive. A weaker dollar makes commodities cheaper for foreign buyers and helps boost the profits at companies that do business overseas.

Gold fell $6.30 to $1,119.80 an ounce. Oil slumped for an eighth day, sliding 67 cents to $69.87 a barrel on the New York Mercantile Exchange.

A steep drop in the number of employers who cut jobs last month and other signs of improvement in the economy have brought expectations that the Federal Reserve will raise interest rates sooner than later. That would boost the dollar and initially hurt stocks as investors look for better returns elsewhere.

Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, expects the stock market will see more days when it rises alongside the dollar because gains in the greenback signal confidence in the U.S. economy is improving. That could trump concerns that the Fed will raise borrowing costs.

"Higher interest rates down the road probably would not derail this bull market mainly because the economy is on better footing than people think," Detrick said.

Next week, investors will be looking to the policy statement that follows a two-day meeting of the Fed's interest rate committee for clues on the direction of interest rates. Reports are also due on housing and industrial production, and companies including Best Buy Co. and FedEx Corp. are scheduled to post quarterly earnings.

Treasury prices mostly fell Friday after the encouraging economic reports weakened demand for safe-haven investments. That pushed yields higher. The yield on the benchmark 10-year Treasury note rose to 3.55 percent from 3.50 percent late Thursday.

Two stocks rose for every one that fell on the New York Stock Exchange, where volume totaled 1 billion shares versus 1.1 billion Thursday.

The Russell 2000 index of smaller companies rose 4.99, or 0.8 percent, to 600.37.

Britain's FTSE 100 rose 0.3 percent, Germany's DAX index gained 0.8 percent, and France's CAC-40 rose 0.1 percent. Japan's Nikkei stock average soared 2.5 percent.
9240

 

[jancha]

[Dow 10,471.50 +65.67 +0.63%
Nasdaq 2,190.31 -0.55 -0.03%
S&P 500 1,106.41 +4.06 +0.37%
30-yr Bond 4.4970% +0.0050

NYSE Volume 4,408,781,000 (prior 4,598,088,000)
Nasdaq Volume 1,762,508,880 (prior 1,950,550,880)

Oil 76.90 -0.56 -0.72%
Gold 1,186.90 +21.40 +1.84%

Gold fell $6.30 to $1,119.80 an ounce. Oil slumped for an eighth day, sliding 67 cents to $69.87 a barrel on the New York Mercantile Exchange.


Dont quite follow the POG here. Gold 1,186.90 + 21.40 +1.84%

Gold fell $6.30 to $1,119.80 an ounce.

Can someone explain why the two are different?