NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

Stocks sported solid gains for the entire session as a batch of positive news items brought buyers into action. However, afternoon trade became rather subdued as the stock market entered a familiar sideways drift.

Global indices got an overnight lift from news that Abu Dhabi has supplied Dubai's corporate flagship, Dubai World, with $10 billion. Several weeks ago Dubai World had requested to freeze its debt payments amid a lack of liquidity. By doing so, Dubai World had rekindled concern about the security of global credit markets.

Easing concerns about debt problems overseas and a $31 billion takeover deal by Exxon Mobil Corp. nudged major stock indexes to new highs for the year.

The market climbed Monday following news that the Middle Eastern city-state of Abu Dhabi had extended $10 billion to nearby Dubai to help the emirate make debt payments. Analysts have been concerned since last month that a cash crunch in the former boomtown could send ripples through global credit markets.

The market's advance was uneven after Exxon Mobil said it would acquire XTO Energy Inc. The move will help Exxon tap into the growing supply of natural gas in the U.S. and could signal that more deals are afoot in the energy industry.

The NYSE DOW closed HIGHER +29.55 points +0.28% on Monday December 14
Sym Last........ ........Change..........
Dow 10,501.05 +29.55 +0.28%
Nasdaq 2,212.10 +21.79 +0.99%
S&P 500 1,114.11 +7.70 +0.70%
30-yr Bond 4.4750% -0.0220

NYSE Volume 5,119,280,000 (prior 4,408,781,000)
Nasdaq Volume 1,860,570,120 (prior 1,762,508,880)

Oil 76.90 -0.56 -0.72% CLZ09.NYM
Gold 1,186.90 +21.40 +1.84% GCX09.CMX

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,315.34 +53.77 +1.02%
DAX 5,802.26 +45.97 +0.80%
CAC 40 3,830.44 +26.72 +0.70%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,105.68 -2.19 -0.02%
Hang Seng 22,085.75 +183.64 +0.84%
Straits Times 2,799.54 -1.21 -0.04%

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=3&asset=&ccode=

Stocks rise to 2009 highs after Dubai, Exxon deals

Stock market ticks higher after Dubai gets $10B bailout; Exxon deal lifts energy shares

By Sara Lepro, AP Business Writer
On 5:16 pm EST, Monday December 14, 2009

NEW YORK (AP) -- Easing concerns about debt problems overseas and a $31 billion takeover deal by Exxon Mobil Corp. nudged major stock indexes to new highs for the year.

The market climbed Monday following news that the Middle Eastern city-state of Abu Dhabi had extended $10 billion to nearby Dubai to help the emirate make debt payments. Analysts have been concerned since last month that a cash crunch in the former boomtown could send ripples through global credit markets.

The market's advance was uneven after Exxon Mobil said it would acquire XTO Energy Inc. The move will help Exxon tap into the growing supply of natural gas in the U.S. and could signal that more deals are afoot in the energy industry.

A drop in shares of Exxon held the Dow Jones industrial average to more modest gains than other indexes. The Dow added 0.3 percent, while the broader Standard & Poor's 500 index rose 0.7 percent.

Financial stocks rose after Citigroup Inc. said it would repay the $20 billion it received last year from the government's financial rescue program. The government also will sell its 34 percent stake in the company. The news came just days after Bank of America Corp. repaid the $45 billion in bailout money it owed taxpayers.

The day's advance was orderly and signaled that traders remain cautious, as they have for weeks. A big run in stocks that began in March has slowed in the past month as investors look to lock in some of their gains from 2009 and determine how to position themselves for the new year. The Standard & Poor's 500 index is up 1.7 percent so far this month, after a 5.7 percent gain in November and a 64.7 percent jump since early March.

"Most people, for the most part, have wrapped up the year," said Blaze Tankersley, chief market strategist at brokerage Bay Crest Partners.

The Dow rose 29.55, or 0.3 percent, to 10,501.05, its highest close since Oct. 1, 2008. The S&P 500 index rose 7.70, or 0.7 percent, to 1,114.11, its highest finish since Oct. 2, 2008. The Nasdaq composite index rose 21.79, or 1 percent, to 2,212.10.

The yield on the benchmark 10-year Treasury note edged up to 3.56 percent from 3.55 percent late Friday as prices fell.

The dollar fell against other currencies, helping to lift most commodities prices. Commodities are priced in dollars and become cheaper for foreign buyers when the greenback falls.

Gold rose, while oil fell 36 cents to settle at $69.51 a barrel on the New York Mercantile Exchange.

Analysts said stocks are likely to drift as investors await comments about the economy and interest rates from the Federal Reserve, which wraps up its last policy meeting of the year on Wednesday.

Investors expect the central bank to keep its benchmark interest rate at a historic low level of near zero. But there is some concern that rates could rise sooner than previously thought as the economy improves.

"People simply want to know if we are going to keep this low-interest-rate environment," said Michael Feser, president of Zecco Trading in Pasadena, Calif. "That has really been fuel for this market."

The Russell 2000 index of smaller companies rose 9.42, or 1.6 percent, to 609.79.

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

Britain's FTSE 100 rose 1 percent, Germany's DAX index rose 0.8 percent, and France's CAC-40 gained 0.7 percent. Japan's Nikkei stock average fell less than 0.1 percent.

 

[bigdog]

Source: http://finance.yahoo.com

A stronger dollar and disappointing data caused stocks to start the session in negative territory, while weakness among bank stocks soon added to broader market selling pressure. The major indices did make a midmorning upturn, but the move encountered resistance and stocks eventually rolled over.

Renewed support for the U.S. dollar drove the Dollar Index to a fresh two-month high and led to broad-based weakness in the stock market. The greenback pulled back a bit, but it still settled with a 0.7% gain against competing currencies. The move comes ahead of tomorrow's FOMC policy statement, which will be of primary focus as participants look for hints about any potential tightening of monetary policy.

The stock market fell for the first time in five days and Treasurys slipped after a jump in inflation stoked concerns that the Federal Reserve would be forced to raise interest rates.

Stocks extended their slide late Tuesday after General Electric Co. forecast that revenue and earnings would be largely flat in 2010.

Major stocks indexes slid 0.5 percent from 14-month highs, including the Dow Jones industrial average, which lost 49 points.

The NYSE DOW closed LOWER -49.05 points -0.47% on Tuesday December 15
Sym Last........ ........Change..........
Dow 10,452.00 -49.05 -0.47%
Nasdaq 2,201.05 -11.05 -0.50%
S&P 500 1,107.93 -6.18 -0.55%
30-yr Bond 4.5330% +0.0580

NYSE Volume 5,604,405,000 (prior 5,119,280,000)
Nasdaq Volume 1,958,419,120 (prior 1,860,570,120)

Oil 76.90 -0.56 -0.72% CLZ09.NYM
Gold 1,186.90 +21.40 +1.84% GCX09.CMX

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,285.77 -29.57 -0.56%
DAX 5,811.34 +9.08 +0.16%
CAC 40 3,834.09 +3.65 +0.10%

Asia
Symbol..... Last...... .....Change.......
Nikkei 225 10,083.48 -22.20 -0.22%
Hang Seng 21,813.92 -271.83 -1.23%
Straits Times 2,798.70 -0.84 -0.03%

http://finance.yahoo.com/news/Spike-in-wholesale-inflation-apf-2682030532.html?x=0

Spike in wholesale inflation sends stocks lower

Stocks, bonds fall as wholesale inflation and the dollar rise; Fed meets to discuss rates

By Tim Paradis, AP Business Writer
On 5:11 pm EST, Tuesday December 15, 2009

NEW YORK (AP) -- The stock market fell for the first time in five days and Treasurys slipped after a jump in inflation stoked concerns that the Federal Reserve would be forced to raise interest rates.

Stocks extended their slide late Tuesday after General Electric Co. forecast that revenue and earnings would be largely flat in 2010.

Major stocks indexes slid 0.5 percent from 14-month highs, including the Dow Jones industrial average, which lost 49 points.

Trading was subdued as Fed policymakers gathered for a two-day meeting on interest rates. The Fed isn't expected to raise rates from their record low level, but the day's economic reports brought reminders that the central bank could be forced to raise rates sooner than expected to keep inflation at bay.

The government said wholesale prices jumped 1.8 percent last month, more than double the gain analysts expected. Core inflation, which excludes often-volatile food and energy costs, rose 0.5 percent, the biggest increase in more than a year.

Analysts said the increase in food and energy costs was likely a concern for Fed officials.

"They're the twin pistons of inflation," said Christopher Wolf, managing partner and co-chief investment officer at Cogo Wolf Asset Management LLC in San Francisco.

Meanwhile, the Fed said industrial production rose 0.8 percent in November, the biggest gain since August. The rise in production meant factories ran at a higher capacity. The portion of capacity being used remains below average, but if factories start seeing demand increase prices could rise.

The reports put inflation on investors' screens. If prices start rising and the Fed raises rates, it could choke off a nascent economic recovery. The Fed is expected to release a statement on the economy and interest rates Wednesday afternoon after its meeting.

"There is a fair chance that the Fed is going to have to start putting some brakes on the economy," Wolf said, adding that he doesn't expect any immediate actions from policymakers.

Higher rates would help shore up the dollar, which rose Tuesday, but has fallen against other major currencies since stocks began rising in March. It could also trip up the stock market as traders realign their holdings.

Stocks have slowed their nine-month advance in December as traders look to lock in gains for the year and seek clues about what might be able to drive the market in 2010. The benchmark Standard & Poor's 500 index has jumped 63.8 percent from a 12-year low in March on relief that the economy appears to be stabilizing. Analysts say investors will need substantive signs that the economy is improving to extend the gains next year.

The Dow fell 49.05, or 0.5 percent, to 10,452.00. The S&P 500 index fell 6.18, or 0.6 percent, to 1,107.93, and the Nasdaq composite index fell 11.05, or 0.5 percent, to 2,201.05.

The Dow and S&P 500 index closed Monday at their highest levels since October 2008 as concerns eased about global debt problems.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.60 percent from 3.56 percent late Monday.

The dollar rose to its highest level in two months against the euro, while gold prices fell.

Crude oil rose $1.18 to settle at $70.69 per barrel on the New York Mercantile Exchange and break a nine-day slide.

Investors turned cautious after GE's forecast. CEO Jeffrey Immelt said the conglomerate is making a rebound after a difficult year and that it is looking to rely more on its energy and health care businesses and less on its financial arm for earnings in 2010. The stock fell 20 cents, or 1.3 percent, to $15.75.

Meanwhile, Best Buy Co. said its fourth-quarter profit margins will face pressure as shoppers look for less expensive items. The comments came as the electronics retailer said its third-quarter earnings more than quadrupled. Best Buy fell $3.84, or 8.5 percent, to $41.53.

Three stocks fell for every two that rose on the New York Stock Exchange, where volume came to 1.2 billion shares, compared with 1.1 billion Monday.

Britain's FTSE 100 fell 0.6 percent, Germany's DAX index rose 0.2 percent, and France's CAC-40 added 0.1 percent. Japan's Nikkei stock average fell 0.2 percent.

 

[bigdog]

Source: http://finance.yahoo.com

A weaker dollar helped put stocks in higher ground in the early going, but broader market support faded in the wake of the latest statement from the Federal Open Market Committee (FOMC).

Early gains were broad based as the dollar dipped as much as 0.4% against a basket of foreign currencies in the early going. The Nasdaq was even able to log a fresh 52-week high.

However, support for stocks started to fade ahead of the latest FOMC directive and then buckled in the report's wake.

An early advance in stocks stalled Wednesday as the Federal Reserve reminded investors that it would start to wean the economy from an array of emergency supports next year.

Investors knew several of the programs would be dismantled in 2010, but the added detail about the Fed's plans as well as lingering concerns about inflation tugged at the market. Stocks finished little changed.

The prospect of an eventual increase in interest rates and an improving economy injected some strength into the dollar, which has been on a general decline for about nine months. A rising dollar can weigh on stocks because it cuts into the profits of companies that do business overseas.

The NYSE DOW closed LOWER -10.88 points -0.10% on Wednesday December 16
Sym Last........ ........Change..........
Dow 10,441.12 -10.88 -0.10%
Nasdaq 2,206.91 +5.86 +0.27%
S&P 500 1,109.18 +1.25 +0.11%
30-yr Bond 4.5330% 0.0000

NYSE Volume 5,684,457,000 (prior 5,604,405,000)
Nasdaq Volume 2,115,023,750 (prior 1,958,419,120)

Oil 76.90 -0.56 -0.72% CLZ09.NYM
Gold 1,186.90 +21.40 +1.84% GCX09.CMX

Europe
Symbol... Last...... .....Change.......
FTSE 100 5,320.26 +34.49 +0.65%
DAX 5,903.43 +92.09 +1.58%
CAC 40 3,875.82 +41.73 +1.09%

B]Asia[/B]
Symbol..... Last...... .....Change.......
Nikkei 225 10,177.41 +93.93 +0.93%
Hang Seng 21,611.74 -202.18 -0.93%
Straits Times 2,813.93 +15.23 +0.54%

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=6&asset=&ccode=

Stocks stall as Fed prepares to remove aid

Stocks end little changed as Fed outlines plans for removing economic supports; Dow slips 11

By Tim Paradis, AP Business Writer ,
On Wednesday December 16, 2009, 5:28 pm

NEW YORK (AP) -- An early advance in stocks stalled Wednesday as the Federal Reserve reminded investors that it would start to wean the economy from an array of emergency supports next year.

Investors knew several of the programs would be dismantled in 2010, but the added detail about the Fed's plans as well as lingering concerns about inflation tugged at the market. Stocks finished little changed.

The prospect of an eventual increase in interest rates and an improving economy injected some strength into the dollar, which has been on a general decline for about nine months. A rising dollar can weigh on stocks because it cuts into the profits of companies that do business overseas.

Most stocks rose for the day, though the Dow Jones industrials slipped 11 points. Broader indexes gained but ended off of their highs.

The modest moves came as the Fed said it would leave interest rates near zero, as expected, but officials also noted that weakness in the job market is "abating." Fed governors made the assessment following a two-day meeting on interest rates.

Investors parse Fed statements for insight into how policymakers are viewing the economy and for clues about when the central bank might raise interest rates. Ultra-low borrowing costs have pushed stocks higher this year and helped weaken the dollar.

The Fed's latest pronouncement comes as investors look to lock in some of the enormous gains amassed in the stock market's run since March. Some investors worry the market could stumble next year on the questions raised again Wednesday about interest rates, inflation and the dollar.

Stocks had been higher Wednesday ahead of the Fed's announcement after a benign reading on consumer price inflation eased concerns that the Fed would be forced to raise interest rates soon. The Fed reinforced that notion by repeating that inflation is likely to remain under control and that interest rates would remain low for an "extended period."

Analysts said the Fed didn't want to shake up the market but wanted to leave intact its prediction that interest rates will remain low for now, but not forever.

"The Fed had no interest whatsoever in destabilizing expectations as we move to a new year," said Lawrence Creatura, equity market strategist and portfolio manager at Federated Investors in Rochester, N.Y. "There are only four words that really matter in that statement: 'exceptionally low' and 'extended period.'"

The Dow Jones industrial average fell 10.88, or 0.1 percent, to 10,441.12, after rising as much as 58 points.

The broader Standard & Poor's 500 index rose 1.25, or 0.1 percent, 1,109.18. It is up 22.8 percent for the year. The Nasdaq composite index rose 5.86, or 0.3 percent, to 2,206.91.

Bond prices mostly fell, pushing yields higher, following the Fed's more upbeat assessment of the economy. The yield on the benchmark 10-year Treasury note was flat at 3.60 percent from late Tuesday.

The dollar pared an early slide after the Fed said it would begin to wrap up some of its emergency measures. Gold climbed, while crude oil jumped $1.97 to $72.66 per barrel on the New York Mercantile Exchange.

Bruce McCain, chief investment strategist at Key Private Bank in Cleveland, said a drop in layoffs in November gave the Fed more room to discuss dousing any signs of inflation by cutting off some of the money it is pumping into the economy.

"It marks the time when their emphasis is going to have to be a little more balanced between unemployment and inflation," he said.

Meanwhile, Intel Corp. was the biggest decliner among the 30 stocks that make up the Dow industrials after the Federal Trade Commission accused the chipmaker in a lawsuit of using tactics to snuff out competition. Intel fell 42 cents, or 2.1 percent, to $19.38.

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

The Russell 2000 index of smaller companies rose 4.90, or 0.8 percent, to 611.21.

Britain's FTSE 100 rose 0.7 percent, Germany's DAX index jumped 1.6 percent, and France's CAC-40 advanced 1.1 percent. Japan's Nikkei stock average rose 0.9 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Stiff selling on heavy volume came as the greenback spiked against foreign currencies and financials faltered. Stocks now head into Friday with a week-to-date loss of nearly 1%.

The dollar made its way to a 1.1% gain against competing currencies after Standard & Poor's downgraded Greece's debt rating. It was the second reduction of its kind this week. Support for the greenback had the Dollar Index up as much as 1.4%, which put it at a new three-month high.

That proved to be a headwind for both stocks and commodities, which put materials stocks under the most pressure this session. The materials sector settled with a loss of 2.3%.

A rising dollar and disappointing corporate news pushed stocks lower and Treasurys higher on Thursday over concerns that the economy will struggle to recover.

Major stock indexes slid 1 percent, including the Dow Jones industrial average, which fell 133 points.

The dollar jumped to a three-month high against the euro, a sign of risk-aversion in the market. Investor confidence was further sapped as a forecast from FedEx Corp. fell short of expectations and Citigroup Inc. sold stock at a steep discount as part of a plan to repay government loans.

The NYSE DOW closed LOWER -132.86 points -1.27% on Thursday December 17
Sym. Last......... ........Change..........
Dow 10,308.26 -132.86 -1.27%
Nasdaq 2,180.05 -26.86 -1.22%
S&P 500 1,096.07 -13.11 -1.18%
30-yr Bond 4.4160% -0.1170

NYSE Volume 6,788,313,500 (prior 5,684,457,000)
Nasdaq Volume 1,925,764,500 (prior 2,115,023,750)

Oil 76.90 -0.56 -0.72% CLZ09.NYM
Gold 1,186.90 +21.40 +1.84% GCX09.CMX

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,217.61 -102.65 -1.93%
DAX 5,844.44 -58.99 -1.00%
CAC 40 3,830.82 -45.00 -1.16%

B]Asia[/b]
Symbol...... Last...... .....Change.......
Nikkei 225 10,163.80 -13.61 -0.13%
Hang Seng 21,347.63 -264.11 -1.22%
Straits Times 2,813.27 -0.66 -0.02%

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

Stocks fall as dollar gains, FedEx disappoints

Stocks slide as dollar jumps against euro; Citi share sale, FedEx forecast disappoint traders

By Tim Paradis and Ieva M. Augstums,
On Thursday December 17, 2009, 4:39 pm

NEW YORK (AP) -- A rising dollar and disappointing corporate news pushed stocks lower and Treasurys higher on Thursday over concerns that the economy will struggle to recover.

Major stock indexes slid 1 percent, including the Dow Jones industrial average, which fell 133 points.

The dollar jumped to a three-month high against the euro, a sign of risk-aversion in the market. Investor confidence was further sapped as a forecast from FedEx Corp. fell short of expectations and Citigroup Inc. sold stock at a steep discount as part of a plan to repay government loans.

More poor news came in on the economy as the government reported an unexpected rise in unemployment claims last week. The number of new jobless claims rose to 480,000 last week, up 7,000 from the previous week.

Stocks were coming under pressure from the stronger dollar, which can cut into profits of U.S. companies that do business abroad. The euro slumped after Standard & Poor's lowered its debt rating on Greece, the latest European country to have credit problems.

A pair of improved economic reports did little to shore up the market. The Conference Board's index of leading economic indicators rose in November for the eighth consecutive month, while the Philadelphia Federal Reserve said manufacturing in its region rose.

John Merrill, chief investment officer of Tanglewood Wealth Management in Houston, said the rising dollar was overshadowing the improvement in the leading indicators numbers. He said the dollar was benefiting as traders concerned about rising debt levels in countries like Greece pulled out of the euro.

"There are a lot of shifting sands as people, not just federal reserve banks, look at the underpinnings of those currencies," he said.

According to preliminary calculations, the Dow fell 132.86, or 1.3 percent, to 10,308.26. The broader Standard & Poor's 500 index fell 13.10, or 1.2 percent, to 1,096.08, and the Nasdaq composite index fell 26.89, or 1.2 percent, to 2,180.05.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.48 percent from 3.60 percent late Wednesday.

The ICE Futures U.S. dollar index, which measures the greenback against a basket of foreign currencies, rose 1 percent.

Gold fell, while crude oil dropped 1 cent to settle at $72.65 per barrel on the New York Mercantile Exchange.

In corporate news, Citigroup fell 25 cents, or 7.3 percent, to $3.20 after the Treasury Department backed out of its plans to sell its 34 percent stake in the company.

The move came after investors responded tepidly to a massive stock offer by the New York-based bank, which is trying to repay $20 billion of the $45 billion in government support it received to weather the financial crisis.

Meanwhile, FedEx provided a cautious forecast for its fiscal third quarter after reporting second-quarter results fell 30 percent from a year earlier. The shipping company fell $5.48, or 6.1 percent, to $84.47.

Credit card lender Discover Financial Services fell $1.50, or 9.1 percent, to $14.92 after reporting that its fiscal fourth-quarter profit fell 19 percent because of bad loans.

The concerns about debt in Europe and the corporate news brought reminders that the economy isn't likely to spring back to life the way it did after downturns earlier in the decade.

"The recovery is likely to be muted," said Jim Baird, partner and chief investment strategist at Plante Moran Financial Advisors. "It's likely to be held back by a consumer that remains in a more delicate spot than would ideally be the case coming out of a recession."

Baird added that the market's retreat wasn't worrisome because of the run stocks have been on since March. The benchmark S&P 500 index is up 22.8 percent for the year so some selling is to be expected as investors look to lock in profits for the year.

About three stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.7 billion shares compared with 1.2 billion Wednesday.

The Russell 2000 index of smaller companies fell 6.96, or 1.1 percent, to 604.25.

Britain's FTSE 100 fell 1.9 percent, Germany's DAX index lost 1 percent, and France's CAC-40 fell 1.2 percent. Japan's Nikkei stock average fell 0.9 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week down 142.61, or 1.4 percent, at 10,328.89. The Standard & Poor's 500 index fell 3.94, or 0.4 percent, to 1,102.47. The Nasdaq composite index rose 21.38, or 1 percent, to 2,211.69

Despite a strong start on the back of a better-than-expected batch of earnings, stocks finished with varied gains. Trading volume was exceptionally high, but not very telling of the broader market's mood.

The stock market broke a three-day slide Friday as stronger results at two big technology companies bolstered confidence about a comeback in the economy.

Tech stocks pulled the market higher in choppy trading that brought record volume to the New York Stock Exchange. Software company Oracle Corp. and BlackBerry maker Research In Motion Ltd. each posted earnings that topped expectations.

The Dow Jones industrial average added 21 points but fell for the week.

The NYSE DOW closed HIGHER +20.63 points +0.20% on Friday December 18
Sym. Last......... ........Change..........
Dow 10,328.89 +20.63 +0.20%
Nasdaq 2,211.69 +31.64 +1.45%
S&P 500 1,102.47 +6.39 +0.58%
30-yr Bond 4.4580% +0.0420

NYSE Volume 8,347,831,500 (prior 6,788,313,500)
Nasdaq Volume 3,210,237,500 (prior 1,925,764,500)

Oil 76.90 -0.56 -0.72% CLZ09.NYM
Gold 1,186.90 +21.40 +1.84% GCX09.CMX

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,196.81 -20.80 -0.40%
DAX 5,831.21 -13.23 -0.23%
CAC 40 3,794.44 -36.38 -0.95%


Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,142.05 -21.75 -0.21%
Hang Seng 21,175.88 -171.75 -0.80%
Straits Times 2,802.59 -10.68 -0.38%

http://finance.yahoo.com/news/Tech-stocks-pull-market-out-apf-3694605928.html?x=0&.v=31

Tech stocks pull market out of 3-day slide

Stocks rise as tech profits boost hopes for revenue growth; trading is heavy as options expire

By Tim Paradis, AP Business Writer , On Friday December 18, 2009, 6:03 pm EST

NEW YORK (AP) -- The stock market broke a three-day slide Friday as stronger results at two big technology companies bolstered confidence about a comeback in the economy.

Tech stocks pulled the market higher in choppy trading that brought record volume to the New York Stock Exchange. Software company Oracle Corp. and BlackBerry maker Research In Motion Ltd. each posted earnings that topped expectations.

The Dow Jones industrial average added 21 points but fell for the week.

The better results at Oracle, which makes software for large businesses, suggested that companies are becoming more willing to spend on technology projects. Research In Motion increased profits as it added subscribers and record sales of its smartphones.

Burt White, chief investment officer at LPL Financial in Boston, said the reports raised expectations that improving profits would help an economy still struggling with high unemployment.

"What is going to drive this recovery is an improvement in business spending, not consumer spending," he said.

After a volatile morning, the market settled out in the afternoon as investors looked to close their books for the year. Trading will be shortened next week because of the Christmas holiday on Friday.

The day began with a frenzy of buying and selling as several types of options contracts expired. Volatility was also high as several stocks were added to and dropped from the Standard & Poor's 500 index, a widely used benchmark and the basis for many indexed mutual funds. Trading on the New York Stock Exchange topped 3 billion shares for the first time. The prior record, just short of 3 billion shares, came in September last year.

The frenetic trading was an exception to the market's recent pattern. Many investors have stepped away from the market since November, resulting in unusually thin volume, while they look for evidence that a nine-month advance in stocks is justified.

White and other analysts say investors are happy to stand pat given the massive gains stocks have made this year. The S&P 500 index is up 22.1 percent in 2009, though it's still down 30 percent from its peak in October 2007.

"This has been a humdinger of a year," he said. "The market has probably shut down sooner than most years."

The Dow rose 20.63, or 0.2 percent, to 10,328.89, after dropping 133 points Thursday.

The broader S&P 500 index rose 6.39, or 0.6 percent, to 1,102.47, and the technology-heavy Nasdaq composite index rose 31.64, or 1.5 percent, to 2,211.69.

For the week, the Dow fell 1.4 percent, the S&P 500 index fell 0.4 percent and the Nasdaq rose 1 percent.

Stocks had tumbled on Thursday as the dollar spiked on worries about debt problems in Europe. A higher dollar can cut into profits of U.S. companies that do business overseas.

The market lost ground early in the week after a jump in inflation raised concerns that the Federal Reserve would be forced to raise interest rates. The Fed said Wednesday that it expected to leave interest rates low to help boost the economy.

Next week, investors will be looking to reports on home sales, consumer sentiment and demand for durable manufactured goods for insight into the economy.

David Allen, director of sales at financial services research group First Coverage in Boston, said some market players are turning cautious. The company tracks analyst recommendations to measure the mood of investors.

"What we're seeing now is sort of a shift in momentum," he said, noting that the company's sentiment indicator stopped rising in mid-November. "The last three weeks it's really kind of leveled out."

Bond prices fell, pushing the yield on the 10-year Treasury note up to 3.54 percent from 3.48 percent late Thursday.

The ICE Futures U.S. dollar index, which tracks the dollar against other major currencies, gained 1.5 percent for the week, its biggest advance since June.

Gold rose, while crude oil advanced 34 cents to settle at $74.42 per barrel on the New York Mercantile Exchange.

Three stocks rose for every two that fell on New York Stock Exchange, where consolidated volume came to 7.7 billion shares compared with 7.9 billion Thursday.

The Russell 2000 index of smaller companies rose 6.32, or 1.1 percent, to 610.57.

Britain's FTSE 100 fell 0.4 percent, Germany's DAX index fell 0.2 percent, and France's CAC-40 fell 1 percent. Japan's Nikkei stock average fell 0.2 percent.

The Dow Jones industrial average closed the week down 142.61, or 1.4 percent, at 10,328.89. The Standard & Poor's 500 index fell 3.94, or 0.4 percent, to 1,102.47. The Nasdaq composite index rose 21.38, or 1 percent, to 2,211.69.

The Russell 2000 index, which tracks the performance of small company stocks, rose 10.20, or 1.7 percent, for the week to 610.57.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,245.30, up 6.29, or 0.1 percent.
9685

 

[bigdog]

Source: http://finance.yahoo.com

Early buying spurred strong, broad-based gains among stocks, but action quickly steadied so that the broader market spent the session moving sideways in a narrow range. Though that didn't make for much excitement, the advance was interesting in that it held firm despite a strong bounce by the U.S. dollar.

Moderate weakness in the greenback drove the Dollar Index to an early loss of 0.3%, which helped win support for stocks and keep all 10 major sectors in positive territory for the entire session.

Another wave of corporate dealmaking stoked investors' confidence in the economy and carried stocks sharply higher Monday.

Analyst upgrades of Alcoa Inc. and Intel Corp. and positive momentum on President Obama's health care overhaul also helped drive a broad rally on the stock market. Major indexes closed off their highs of the day but still rose about 1 percent. The Dow Jones industrial average jumped into the black for the month.

As stocks rose bond prices tumbled, pushing the yield on the benchmark 10-year Treasury note up to its highest level since August. The dollar strengthened, hurting commodities prices.

The NYSE DOW closed HIGHER +85.25 points +85.25 on Monday December 21
Sym. Last......... ........Change..........
Dow 10,414.14 +85.25 +85.25
Nasdaq 2,237.66 +25.97 +1.17%
S&P 500 1,114.05 +11.58 +1.05%
30-yr Bond 4.5670% +0.1090

NYSE Volume 4,532,870,000 (prior 8,347,831,500)
Nasdaq Volume 1,837,720,750 (prior 3,210,237,500)

Oil 76.90 -0.56 -0.72% CLZ09.NYM
Gold 1,186.90 +21.40 +1.84% GCX09.CMX

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,293.99 +97.18 +1.87%
DAX 5,930.53 +99.32 +1.70%
CAC 40 3,872.06 +77.62

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,183.47 +41.42 +0.41%
Hang Seng 20,948.10 -227.78 -1.08%
Straits Times 2,786.81 -15.78 -0.56%

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

Merger news from Sanofi, Bucyrus drives stocks up

Corporate dealmaking sends stock market higher at beginning of holiday-shortened week

By Stephen Bernard and Sara Lepro, AP Business Writers , On Monday December 21, 2009, 4:42 pm

NEW YORK (AP) -- Another wave of corporate dealmaking stoked investors' confidence in the economy and carried stocks sharply higher Monday.

Analyst upgrades of Alcoa Inc. and Intel Corp. and positive momentum on President Obama's health care overhaul also helped drive a broad rally on the stock market. Major indexes closed off their highs of the day but still rose about 1 percent. The Dow Jones industrial average jumped into the black for the month.

As stocks rose bond prices tumbled, pushing the yield on the benchmark 10-year Treasury note up to its highest level since August. The dollar strengthened, hurting commodities prices.

Stocks got an early boost after French drug maker Sanofi-Aventis SA announced plans to buy U.S. health care products company Chattem Inc. for $1.9 billion, while mining equipment maker Bucyrus International Inc. said it will buy Terex Corp.'s mining equipment division for $1.3 billion. Dutch auto maker Spyker Cars submitted a new offer to buy Saab from General Motors Co.

Robert Pavlik, chief market strategist at Banyan Partners, said the flurry of corporate deal activity is an encouraging signs of strength in the economy.

"Companies are revealing that they are in a better position financially," he said. "If they weren't feeling as confident, you wouldn't see this type of activity occurring."

The deals announced Monday follow Exxon Mobil Corp.'s $29 billion takeover of XTO Energy Inc. last week.

In other corporate news, aluminum maker Alcoa Inc. announced an $11 billion joint venture in Saudi Arabia. The deal, along with an analyst's upgrade of the stock, drove Alcoa shares up nearly 8 percent, making it the best performer among the 30 stocks that make up the Dow.

An upgrade of chip maker Intel Corp. helped boost technology stocks, while health care stocks rose broadly as a historic health bill moved closer to passage in the Senate.

According to preliminary calculations, the Dow rose 85.25, or 0.8 percent, to 10,414.14, after rising as much as 130 points earlier in the day. The Standard & Poor's 500 index rose 11.58, or 1.1 percent, to 1,114.05, while the Nasdaq composite index rose 25.97, or 1.2 percent, at 2,237.66.

Bond prices sank as investors abandoned the safety of government debt in favor of stocks. The yield on the benchmark 10-year Treasury note, which moves opposite its price, climbed to 3.69 percent from 3.54 percent late Friday.

The dollar rose against other major currencies, making commodities more expensive for foreign buyers. Light, sweet crude for February delivery fell 70 cents to settle at $73.72 a barrel on the New York Mercantile Exchange. Gold also fell.

Monday's surge in stocks helped lift the Dow into positive territory for the month, giving it a 0.7 percent gain. Many analysts believe stocks should finish out the year strong after several weeks of listless trading.

Investors have been putting the brakes on stock buying since November, stepping back from the market following a historic rally over the past nine months.

At the same time, prospects of an interest rate hike and a potential rebound in the dollar have dogged investors who spent the year taking advantage of low rates to borrow cheaply and invest in stocks and commodities. There are also lingering questions over whether high unemployment and lackluster consumer spending will threaten the economic recovery.

Historically, though, December is the best single month for stocks, with the S&P 500 index averaging a 1.6 percent gain. So long as economic and corporate news continues to be encouraging, analysts expect the market to keep its momentum going into the new year.

Among the standout stocks on Monday, Chattem surged more than 33 percent, adding $23.16 to $93.14 after Sanofi-Aventis SA agreed to buy the company for $93.50 a share, a 34 percent premium over Friday's closing price. Chattem, which is traded on the Nasdaq, helped lift that index to an intraday high for the year.

Also trading on the Nasdaq, Bucyrus shares soared 9.8 percent, rising $5 to $55.84. Terex rose $1.73, or 9 percent, to $20.94.

Alcoa shares shot up 7.9 percent after the announcement of the Saudi deal and Morgan Stanley's upgrade of the stock to "Buy" based on a forecast of higher aluminum prices. Shares jumped $1.15 to $15.73, after earlier hitting a 14-month high of $15.98.

Intel shares rose 46 cents, or 2.3 percent, to $20.09.

About three stocks rose for every one that fell on the New York Stock Exchange, where volume was 1.01 billion shares compared with 3.16 billion shares at the same time on Friday.

Volume was exceptionally high Friday as several types of options contracts expired and S&P made changes to the S&P 500. That index is the basis for many indexed mutual funds, so those funds were forced to alter their holdings to match the reconstituted index.

In other trading, the Russell 2000 index of smaller companies rose 8.03, or 1.3 percent, to 618.60.

Overseas, Japan's Nikkei stock average rose 0.4 percent. Britain's FTSE 100 rose 1.9 percent, Germany's DAX index gained 1.7 percent, and France's CAC-40 jumped 2.1 percent.

 

[bigdog]

Source: http://finance.yahoo.com

More broad-based buying sent stocks to fresh 52-week highs in the face of a surprise downward revision to third quarter GDP and a gain by the greenback.

An extension of the previous session's buying effort positioned stocks for a strong start this morning, but the mood was tempered by news that third quarter GDP was determined to have increased at a slower-than-expected annualized rate of 2.2%, according to the third and final estimate. The consensus prediction called for no revisions to the 2.8% increase that had been posted in the previous estimate.

Stocks pushed higher for a third straight day after a surprisingly strong report on housing provided the latest evidence that the economy is picking up speed.

All major indexes gained less than 1 percent Tuesday, with the Standard & Poor's 500 index and the Nasdaq composite index closing at new highs for the year. The Dow Jones industrial average rose 50 points, bringing its three-day point gain to 156.

Stocks got off to a positive start after a report from the National Association of Realtors said home resales jumped 7.4 percent in November. That was much more than the 2.5 percent increase analysts expected. The government's tax breaks have spurred sales to their highest level in nearly three years.

The NYSE DOW closed HIGHER +50.79 points +0.49% on Tuesday December 22
Sym. Last......... ........Change..........
Dow 10,464.93 +50.79 +0.49%
Nasdaq 2,252.67 +15.01 +0.67%
S&P 500 1,118.02 +3.97 +0.36%
30-yr Bond 4.6050% +0.0380

NYSE Volume 4,152,168,250 (prior 4,532,870,000)
Nasdaq Volume 1,746,967,120 (prior 1,837,720,750)

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

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,328.66 +34.67 +0.65%
DAX 5,945.69 +15.16 +0.26%
CAC 40 3,898.38 +26.32

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,378.03 +194.56 +1.91%
Hang Seng 21,092.04 +143.94 +0.69%
Straits Times 2,823.82 +37.01 +1.33%

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

Stocks rise for 3rd day after jump in home sales

Stocks gain for 3rd straight day after report showing big jump in home sales


By Stephen Bernard and Sara Lepro, AP Business Writer , On Tuesday December 22, 2009, 4:38 pm

NEW YORK (AP) -- Stocks pushed higher for a third straight day after a surprisingly strong report on housing provided the latest evidence that the economy is picking up speed.

All major indexes gained less than 1 percent Tuesday, with the Standard & Poor's 500 index and the Nasdaq composite index closing at new highs for the year. The Dow Jones industrial average rose 50 points, bringing its three-day point gain to 156.

Stocks got off to a positive start after a report from the National Association of Realtors said home resales jumped 7.4 percent in November. That was much more than the 2.5 percent increase analysts expected. The government's tax breaks have spurred sales to their highest level in nearly three years.

The report added to a recent string of encouraging news on the economy, including upbeat earnings and forecasts from technology companies and more corporate dealmaking.

"It's just another rung in the recovery ladder," said Brett D'Arcy, chief investment officer at CBIZ Wealth Management Group.

There were other signs that investors were feeling more confident. Bond prices fell further, pushing yields sharply higher. The gap between yields on short- and long-term bonds has widened to record levels, indicating that investors see the economy growing.

Meanwhile, the dollar rose against the euro as investors bet that the U.S. will recover quicker than economies in Europe. And a gauge of the market's volatility dropped to its lowest point since May 2008. The Chicago Board Options Exchange's Volatility Index, known as the market's fear index, fell 4.6 percent to 19.55, after earlier falling as low as 16.26. It hit a record 89.5 last October during the height of the financial crisis.

D'Arcy said he expects the positive outlook on the economy to build on itself and to continue to propel the market forward through the end of the year.

According to preliminary calculations, the Dow Jones industrial average rose 50.79, or 0.5 percent, to 10,464.93. The Standard & Poor's 500 index rose 3.97, or 0.4 percent, to 1,118.02, while the Nasdaq composite index rose 15.01, or 0.7 percent, to 2,252.67. Both the S&P 500 and the Nasdaq are at their highest levels since last October.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, climbed to levels not seen since August, rising to 3.75 percent from 3.68 percent late Monday.

The yield on the three-month T-bill rose to 0.08 percent from 0.05 percent. Short-term rates have remained low, staying in line with the Federal Reserve's benchmark interest rate, which has been kept at a record level of near zero this year. However, long-term yields have been on the rise as investors become more sure of the economy's strength and see an increasing potential for inflation. Inflation is bad for bonds because it eats into their fixed returns.

The dollar moved higher against other major currencies as a third credit-ratings agency downgraded Greece's government bonds. Worries have been rising in recent weeks about debt levels in Greece, Ireland, Spain and Portugal, leading investors to sell other currencies and buy the dollar.

Gold prices fell to their lowest level since early November, while oil prices reversed an early slide and rose 68 cents to $74.40 a barrel on the New York Mercantile Exchange.

Wall Street typically does well in late December. Since 1950, the average return for the Dow during the week leading up to Christmas was 0.7 percent, according to Schaeffer's Investment Research. And the week following Christmas, the average return was 0.8 percent. The year-end advance is commonly known as a Santa Claus rally.

Investors were able to shrug off a government report revising lower third-quarter gross domestic product. The Commerce Department's new reading on GDP showed a growth rate of 2.2 percent, down from the previous estimate of 2.8 percent. The growth, while smaller than originally believed, still managed to break a record four straight quarters of decline.

About three stocks rose for every two that fell on the New York Stock Exchange, where volume was low at 955.5 million shares, compared with 1.01 billion at the same time on Monday.

Trading is expected to be light throughout the holiday-shortened week, which can exaggerate price swings. The market is open a half day on Thursday and closed Friday for Christmas.

In other trading, the Russell 2000 index of smaller companies rose 5.00, or 0.8 percent, to 623.60.

Overseas, Japan's Nikkei stock average jumped 1.9 percent. Britain's FTSE 100 rose 0.7 percent, Germany's DAX index gained 0.3 percent, and France's CAC-40 rose 0.7 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Disappointing new home sales numbers caused stocks to surrender opening gains, but a weaker dollar helped drive stocks back into the green. However, the rebound was resisted at session highs and left gains to chop their way into the close.

The major indices started the session in higher ground amid continued broad-based buying that was helped along by solid gains throughout Europe and Asia. A pullback by the greenback also provided support; it concluded the session with a 0.5% loss against competing currencies after it had hit a three-month high in the previous session.

Stocks ended an erratic session with a slender gain Wednesday as rising commodities prices offset disappointment over an unexpected drop in home sales.

Gains in commodities drove the shares of energy and materials-producing companies higher, lending support to the overall stock market. Gold, oil and other commodities rose as the dollar dropped.

The dollar snapped a four-day winning streak as the latest economic data reinforced investors' belief that the recovery will be slow.

The NYSE DOW closed HIGHER +1.51 points +0.01% on Wednesday December 23
Sym. Last......... ........Change..........
Dow 10,466.44 +1.51 +0.01%
Nasdaq 2,269.64 +16.97 +0.75%
S&P 500 1,120.59 +2.57 +0.23%
30-yr Bond 4.6030% -0.0020

NYSE Volume 3,554,555,000 (prior 4,152,168,250)
Nasdaq Volume 1,588,521,620 (prior 1,746,967,120)

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

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,372.38 +43.72 +0.82%
DAX 5,957.44 +11.75 +0.20%
CAC 40 3,910.75 +12.37 +0.32%


Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,378.03 +194.56 +1.91%
Hang Seng 21,328.74 +236.70 +1.12%
Straits Times 2,841.56 +17.74 +0.63%

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

Stocks finish slightly higher despite housing data

Stock indexes eke out small gains as commodities rise, offset disappointing home sales data

By Stephen Bernard and Sara Lepro, AP Business Writers , On Wednesday December 23, 2009, 5:06 pm

NEW YORK (AP) -- Stocks ended an erratic session with a slender gain Wednesday as rising commodities prices offset disappointment over an unexpected drop in home sales.

Gains in commodities drove the shares of energy and materials-producing companies higher, lending support to the overall stock market. Gold, oil and other commodities rose as the dollar dropped.

The dollar snapped a four-day winning streak as the latest economic data reinforced investors' belief that the recovery will be slow.

The Commerce Department said sales of new homes plunged 11.3 percent in November to their lowest level since March. The slump was disappointing for two reasons -- economists had forecast an increase, and the news came a day after stocks climbed higher on a separate report showing a better-than-expected gain in sales of existing homes last month.

The report indicated how reliant Americans have been on government assistance. Home resale numbers reflect contracts signed over the summer that closed last month. Those figures were inflated by consumers who rushed to take advantage of a tax credit that was set to expire at the end of November. New home figures, on the other hand, tally sales agreements signed in November, when consumers knew the deadline to apply for the tax credit had been extended and could take their time buying a new home.

The housing disappointment followed news that personal spending and income both rose in November. However, economists say growth remains too weak to sustain a strong economic recovery.

Stock trading has been choppy over the past few weeks as investors' optimism about the recovery surged and then ebbed. On Monday, the market rallied as corporate mergers raised investors' confidence. Wednesday's trading showed how uncertain investors really are.

Volume was light as investors closed up shop ahead of the Christmas holiday. The market will be open a half day on Thursday and closed on Friday.

Those still trading aren't making any major moves as the year winds to a close. The Standard & Poor's 500 index is now up 24.1 percent for the year.

"People are not doing any new trading," said Benny Lorenzo, CEO of New York-based Kaufman Brothers. "They are just holding on to their gains for the year."

The Dow Jones industrial average rose 1.51, or 0.01 percent, to 10,466.44. The Standard & Poor's 500 index rose 2.57, or 0.2 percent, to 1,120.59, while the Nasdaq composite index gained 16.97, or 0.8 percent, to 2,269.64.

The ICE Futures U.S. dollar index, which measures the dollar against other currencies, tumbled 0.5 percent. The decline in the dollar makes commodities cheaper for foreign buyers. Oil surged more than 3 percent, rising $2.27 to $76.67 a barrel on the New York Mercantile Exchange. Gold prices also rose.

Stocks started out modestly higher on Wednesday after the Commerce Department reported that personal income rose at the fastest rate in four months. That enabled Americans to increase their spending for the second straight month. Personal incomes rose 0.4 percent, helped by higher wages, while spending rose 0.5 percent. Both figures fell slightly short of the market's expectations.

Tim Courtney, chief investment officer at Burns Advisory Group, said Wall Street's mild reaction to Wednesday's economic data may be a reflection of the fact that there are few appealing alternatives for investors right now.

The cost of buying a 10-year Treasury note to lock in yearly gains just above 3.5 percent does not provide as much value as stocks whose gains could be sharply higher, he said. Gains on Treasurys could be further eroded if inflation starts to pick up as the economy recovers.

Reflecting investors' indecisiveness, bond prices were little changed Wednesday following three days of declines. The yield on the benchmark 10-year Treasury note held steady at 3.76 percent.

Three stocks rose for every one that fell on the New York Stock Exchange, where volume came to an extremely slow 785.9 million shares, down from 955.5 million on Tuesday.

Trading volume on the New York Stock Exchange has been especially light throughout the month, which can exaggerate price swings.

The Russell 2000 index of smaller companies rose 7.38, or 1.2 percent, to 630.98.

Overseas, Britain's FTSE 100 gained 0.8 percent, Germany's DAX index gained 0.2 percent, and France's CAC-40 rose 0.3 percent. The DAX and CAC-40 both hit highs for the year earlier in the day. Markets in Japan were closed for a holiday.

 

[bigdog]

Source: http://finance.yahoo.com

The market will remain closed Friday for Christmas.

The major indices posted modest gains to close at fresh 52-week highs following a holiday-shortened session in extremely light volume.

Thursday marked an extremely slow session, as expected, as many market participants were off their desks as they took an extended weekend ahead of Christmas. A total of 287 mln shares exchanged hands on the NYSE, well below the one year average of 1.4 bln. Buying interest was broad-based, with nine of the 10 sectors posting a gain. Tech outperformed with a gain of 1.0%, while healthcare underperformed, closing near the unchanged mark.

Stocks ended a holiday-shortened session Thursday at new highs for the year following upbeat reports on unemployment and durable goods orders.

A weaker dollar also helped buoy the market, lifting energy and materials stocks. Christmas Eve trading was extremely light.

The encouraging signs of the labor market and consumer demand helped assuage investors who were disappointed the day before by an unexpected plunge in new home sales last month.

The NYSE DOW closed HIGHER +53.66 points +0.51% on Thursday December 24
Sym. Last......... ........Change..........
Dow 10,520.10 +53.66 +0.51%
Nasdaq 2,285.69 +16.05 +0.71%
S&P 500 1,126.48 +5.89 +0.53%
30-yr Bond 4.6870% +0.0840

NYSE Volume 1,427,099,500 (prior 3,554,555,000)
Nasdaq Volume 632,669,560 (prior 1,588,521,620)

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

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,402.41 +30.03 +0.56%
DAX 5,957.44 +11.75 +0.20%
CAC 40 3,912.73 +1.98 +0.05%


Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,536.92 +158.89 +1.53%
Hang Seng 21,517.00 +188.26 +0.88%
Straits Times 2,837.70 -3.86 -0.14%

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=3&asset=&ccode=

Stocks end shortened session at new 2009 highs

Stocks hit new highs for the year following drop in jobless claims, rise in factory orders

By Stephen Bernard and Sara Lepro, AP Business Writers , On Thursday December 24, 2009, 3:07 pm EST

NEW YORK (AP) -- Stocks ended a holiday-shortened session Thursday at new highs for the year following upbeat reports on unemployment and durable goods orders.

A weaker dollar also helped buoy the market, lifting energy and materials stocks. Christmas Eve trading was extremely light.

The encouraging signs of the labor market and consumer demand helped assuage investors who were disappointed the day before by an unexpected plunge in new home sales last month.

New claims for unemployment benefits fell 28,000 to 452,000 last week, the Labor Department reported, the latest sign of improvement in the job market. It was the best figure since September 2008, just before the credit crisis peaked, and better than the 470,000 new claims economists had predicted.

Separately, the Commerce Department said orders to factories for durable goods excluding the volatile transportation sector jumped 2 percent last month, double what analysts expected.

Stocks have managed to push higher in December on optimism about the economy, but at a more subdued pace than in recent months. As the year winds to a close, the Standard & Poor's 500 index up 66.5 percent since hitting 12-year lows in March.

This week's trading pattern reflected the market's recent cautious tone. On Monday, stocks shot higher as another wave of corporate dealmaking boosted investors' optimism. Two days later, shares barely budged after the disappointing report on housing.

"The news on balance is pretty good," said Uri Landesman, head of global growth, ING Investment Management. "The market continues to inch higher."

The Dow Jones industrial average rose 53.66, or 0.5 percent, to 10,520.10. The Standard & Poor's 500 index rose 5.89, or 0.5 percent, to 1,126.48, while the Nasdaq composite index rose 16.05, or 0.7 percent, to 2,285.69.

Rising shares outnumbered decliners by about 3 to 1 on the New York Stock Exchange, where volume came to 319.3 million shares, compared with 384.8 million on Wednesday.

Trading has been slow throughout the week heading into the holiday, which can exaggerate swings in stock prices. The market closed at 1 p.m. Thursday and will remain closed Friday for Christmas.

Volume is likely to remain light next week, which will be shortened by the New Year's Day holiday on Friday. Outside of readings on home prices and consumer confidence, there will be few economic reports to drive trading.

The final days of the year are often good for stocks, though. Since 1950, the S&P 500 has advanced an average of 1.5 percent during the seven trading days that start with Christmas Eve and end with the first two days in January.

In industry news, health care stocks were little changed after landmark health care reform legislation cleared the Senate. Some analysts said the sector could have fared much worse in the bill.

"It's come off fairly toothless from what it could've been," Mitch Schlesinger, managing partner at FBB Capital Partners, said of the Senate's version of the health bill. He noted that many big health insurers are still trading near their highs for the year.

The ICE Futures U.S. dollar index, which measures the dollar against other currencies, fell 0.1 percent. Gold prices climbed back above $1,100 an ounce, while oil prices rose 96 cents to $77.63 a barrel on the New York Mercantile Exchange.

Commodities prices tend to rise when the dollar weakens because they become more attractive to foreign investors. A weaker dollar has helped keep the stock market churning higher in recent months.

Bond prices fell, sending their yields higher. The yield on the benchmark 10-year Treasury note rose to 3.80 percent from 3.75 percent late Wednesday.

The Russell 2000 index of smaller companies rose 3.09, or 0.5 percent, to 634.07.

Overseas, Japan's Nikkei stock average rose 1.5 percent. Britain's FTSE 100 rose 0.6 percent and France's CAC-40 rose 0.1 percent. Germany's market was closed for Christmas Eve.
0024

 

[bigdog]

Source: http://finance.yahoo.com

Modest gains in the early going turned into modest losses during afternoon action, but some late support helped the stock market settle higher for the sixth straight session. There weren't many catalysts to account for this session's trade; instead, stocks were largely left to move on their own.

Amid a lack of news flow, early participants took their cues from overseas markets, which made solid gains on the back of better-than-expected economic data in Japan and word that stimulus policies in China will remain intact. A modest pullback by the greenback also provided early support to stocks. The Dollar Index settled with a 0.1% loss.

Better holiday sales and rising commodities prices pushed stocks to their sixth straight gain and new highs for 2009.

Major indexes edged higher in light trading Monday after sales figures showed shoppers spent more freely this holiday season, a sign that consumers are feeling better about the economy.

Figures from MasterCard Advisors' SpendingPulse, which track all forms of payment, show retail sales rose 3.6 percent from Nov. 1 through Dec. 24, after dropping during that time last year. Adjusting for an extra shopping day between Thanksgiving and Christmas, the number was closer to a 1 percent gain.

The NYSE DOW closed HIGHER +26.98 points +0.26% on Monday December 28
Sym. Last......... ........Change..........
Dow 10,547.08 +26.98 +0.26%
Nasdaq 2,291.08 +5.39 +0.24%
S&P 500 1,127.78 +1.30 +0.12%
30-yr Bond 4.6870% +0.0840

NYSE Volume 3,141,947,750 (prior 1,427,099,500)
Nasdaq Volume 1,249,055,250 (prior 632,669,560)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,402.41 closed monday
DAX 6,002.92 +45.48 +0.76%
CAC 40 3,947.15 +34.42 +0.88%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,634.23 +139.52 +1.33%
Hang Seng 21,480.22 -36.78 -0.17%
Straits Times 2,855.68 +17.98 +0.63%

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

Stocks edge higher as shoppers step up spending

Stocks advance following welcome increase in retail sales; airlines lag on security concerns

By Sara Lepro and Tim Paradis, AP Business Writers , On Monday December 28, 2009, 5:46 pm

NEW YORK (AP) -- Better holiday sales and rising commodities prices pushed stocks to their sixth straight gain and new highs for 2009.

Major indexes edged higher in light trading Monday after sales figures showed shoppers spent more freely this holiday season, a sign that consumers are feeling better about the economy.

Figures from MasterCard Advisors' SpendingPulse, which track all forms of payment, show retail sales rose 3.6 percent from Nov. 1 through Dec. 24, after dropping during that time last year. Adjusting for an extra shopping day between Thanksgiving and Christmas, the number was closer to a 1 percent gain.

Consumer spending is one of the biggest drivers of economic growth and is important for a sustained recovery.

Meanwhile, commodities prices rose as the dollar fell, giving a boost to energy and materials stocks.

Airline stocks fell, helping to keep the market's gains in check, after two security incidents on Northwest flights over the weekend. The Dow Jones transportation average fell 0.6 percent.

With fewer traders in the market due to the holidays, and without any bad news, analysts say stocks are likely to drift higher during the final days of 2009.

"What's going to stop this is a question on a lot of people's minds," said Lawrence Creatura, portfolio manager at Federated Clover Investment Advisors. "And the answer so far is nothing."

Markets were closed for Christmas and will be closed again Friday for New Year's Day.

The Dow Jones industrial average rose 26.98, or 0.3 percent, to 10,547.08, its highest close since Oct. 1, 2008. The Dow transportation average fell 24.37, or 0.6 percent, to 4,163.49.

The Standard & Poor's 500 index rose 1.30, or 0.1 percent, to 1,127.78, and the Nasdaq composite index advanced 5.39, or 0.2 percent, to 2,291.08.

Bond prices came off their lows after an auction of $44 billion of two-year notes saw sufficient demand. Bond prices have been falling in recent weeks, pushing yields higher as stocks continue to advance amid improving economic data.

In total, the Treasury Department is issuing $118 billion of debt this week. Investors have worried this year that demand for government debt would wane amid the massive amounts of supply. But so far, most auctions have gone smoothly.

The yield on the previously auctioned 10-year Treasury note, which moves opposite its price, rose to 3.85 percent from 3.80 percent Thursday.

Stocks added to moderate gains from last week, when the market rose following upbeat reports on unemployment and durable goods orders. This week, readings on home prices and consumer confidence are among the few economic reports expected.

Stocks have managed to grind higher throughout December, but the gains have been more subdued than in recent months as investors have held back on making big moves going into the end of the year. The S&P 500 index is up 66.7 percent since hitting a 12-year low in March.

Commodities prices rose as the dollar fell. Commodities are priced in U.S. dollars, so when the greenback is weak they become more attractive to foreign buyers.

The ICE Futures U.S. dollar index, which measures the dollar against other major currencies, slipped 0.1 percent.

Crude oil gained 72 cents to settle at $78.77 a barrel on the New York Mercantile Exchange. Gold also rose.

Shares of Delta Air Lines Inc., which owns Northwest, fell 48 cents, or 4.1 percent, to $11.29. A failed attack on a Northwest flight on Christmas Day and another incident on the same route to Detroit from Amsterdam on Sunday raised security concerns.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange where consolidated volume came to a light 2.8 billion shares.

In other trading, the Russell 2000 index of smaller companies fell 0.32, or 0.1 percent, to 633.75.

Overseas, Japan's Nikkei stock average rose 1.3 percent to its highest close since late August, boosted by an increase in factory production. Germany's DAX index rose 0.8 percent, while France's CAC-40 rose 0.9 percent. Markets in Britain were closed for a holiday.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks started the session in higher ground, but stumbled as a lack of leadership kept the broader market from countering a rebound by the dollar. In turn, the S&P 500 saw its recent streak of gains come to an end.

Participants returned to Tuesday's trade willing to extend the previous session's modest advance. That enabled the S&P 500 to open at its 52-week high with broad-based gains. This session's lack of leadership caught up with stocks, though. As the Dollar Index swung from a morning loss of roughly 0.5% to a gain of 0.3%, the broader equity market slipped into negative territory, unable to rally behind a leader.

The stock market edged lower Tuesday, breaking a six-day advance as reports on home prices and consumer confidence did little to excite buyers.

Major indexes rose modestly in the early going but slipped as the dollar strengthened and tugged on commodities prices. A stronger dollar makes commodities more expensive for foreign buyers.

Trading was quiet, as it has been in recent days, and many investors left at the end of the day for a long New Year's weekend. The low volume held the Dow Jones industrial average to a 36-point range, the narrowest in nearly three years. The modest losses came after stocks had risen for six straight days.

The NYSE DOW closed LOWER -1.67 points -0.02% on Tuesday December 29
Sym. Last......... ........Change..........
Dow 10,545.41 -1.67 -0.02%
Nasdaq 2,288.40 -2.68 -0.12%
S&P 500 1,126.19 -1.59 -0.14%
30-yr Bond 4.6870% +0.0840

NYSE Volume 2,822,345,250 (prior 3,141,947,750)
Nasdaq Volume 1,198,968,750 (prior 1,249,055,250)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,437.61 +35.20 +0.65%
DAX 6,011.55 +8.63 +0.14%
CAC 40 3,959.98 +12.83 +0.33%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,638.06 +3.83 +0.04%
Hang Seng 21,499.44 +19.22 +0.09%
Straits Times 2,869.76 +14.08 +0.49%

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

Stocks slip to break six-day winning streak

Stocks break winning streak as investors shrug off gains in consumer confidence, home prices

By Sara Lepro and Tim Paradis, AP Business Writers , On Tuesday December 29, 2009, 5:28 pm

NEW YORK (AP) -- The stock market edged lower Tuesday, breaking a six-day advance as reports on home prices and consumer confidence did little to excite buyers.

Major indexes rose modestly in the early going but slipped as the dollar strengthened and tugged on commodities prices. A stronger dollar makes commodities more expensive for foreign buyers.

Trading was quiet, as it has been in recent days, and many investors left at the end of the day for a long New Year's weekend. The low volume held the Dow Jones industrial average to a 36-point range, the narrowest in nearly three years. The modest losses came after stocks had risen for six straight days.

Economic reports looked stronger but failed to galvanize investors. The Conference Board said its index of consumer confidence rose to 52.9 in December from 49.5 in November. That was slightly better than economists had forecast.

The index remains well below what is considered healthy. A reading of 90 or more signals a solid economy. However, the index has jumped from a historic low of 25.3 in February.

Home prices also rose. The Standard & Poor's/Case-Shiller's home price index rose for a fifth straight month in October, edging up 0.4 percent. The index was off 7.3 percent from October last year, roughly in line with expectations.

Analysts said there were few surprises in the economic numbers to drive the market.

"The reports we're seeing broadly reinforce the expectations we've had," said Jim Baird, partner and chief investment strategist for Plante Moran Financial Advisors in Kalamazoo, Mich. "It's slow and steady; It's not explosive improvement."

The Dow slipped 1.67, or less than 0.1 percent, to 10,545.41. The trading range was the tightest since February 2007 and the fifth straight day when the index has swung by fewer than 70 points.

The Standard & Poor's 500 index fell 1.58, or 0.1 percent, to 1,126.20, while the Nasdaq composite index fell 2.68, or 0.1 percent, to 2,288.40.

Interest rates fell after a successful auction of $42 billion of five-year notes. The Treasury Department is issuing $118 billion in debt this week as part of its efforts to fund its stimulus programs. With so much debt flooding the market, there's been concern this year that demand would diminish. Most auctions though have been able to attract decent demand.

The yield on the 10-year Treasury note, which is used as a benchmark for consumer loans, fell to 3.80 percent from 3.85 percent late Monday.

The dollar reversed an early slide and moved higher against other currencies.

Oil rose 10 cents to settle at $78.87 per barrel on the New York Mercantile Exchange. The stronger dollar held oil below $79. Gold fell.

Tim Speiss, chairman of Personal Wealth Advisors practice at Eisner LLP in New York, said he expects to see the market build on its recent gains at the start of the new year and through the first quarter.

"We're going to be building momentum," he said.

Falling stocks narrowly outpaced those that rose on the New York Stock Exchange, where volume came to a light 638.3 million shares.

In other trading, the Russell 2000 index of smaller companies fell 0.57, or 0.1 percent, to 633.18.

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

 

[bigdog]

Source: http://finance.yahoo.com

Stocks spent almost the entire session trading with moderate losses until some late support helped the major indices improve their position and settle at afternoon highs near the neutral line. Like most of the session's moves, the late lift came on light volume and without leadership.

Moderate weakness in the broader market led stocks to open the session in negative territory. They did make an early run up to the neutral line in the minutes ahead of the Chicago Purchasing Managers Index, which came in at 60.0 to top expectations and hit its best level since 2006. However, stocks were met with resistance at the neutral line and spent the rest of the session without clear direction.

Stocks ended the next-to-last day of 2009 little changed as welcome news on manufacturing helped offset a drop in commodities prices.

The market drew support Wednesday from a key economic indicator that signaled growth in Midwest manufacturing for a third straight month. The Chicago Purchasing Managers Index rose to 60 in December from 56.1 in November. The report found that production and new orders increased and employment improved.

A rising dollar and light volume held the market's gains in check. A gain in the dollar makes commodities, and thus the shares of companies that produce commodities, less attractive to foreign buyers. It also hurts the profits of companies that do business overseas.

The NYSE DOW closed HIGHER +3.10 points +0.03% on Wednesday December 30
Sym. Last......... ........Change..........
Dow 10,548.51 +3.10 +0.03%
Nasdaq 2,291.28 +2.88 +0.13%
S&P 500 1,126.42 +0.23 +0.02%
30-yr Bond 4.6870% +0.0840

NYSE Volume 2,683,201,750 (prior 2,822,345,250
Nasdaq Volume 1,314,929,380 (prior 1,198,968,750)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,397.86 -39.75 -0.73%
DAX 5,957.43 -54.12 -0.90%
CAC 40 3,935.50 -24.48 -0.62%


Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,546.44 -91.62 -0.86%
Hang Seng 21,496.62 -2.82 -0.01%
Straits Times 2,879.76 +10.00 +0.35%

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=3&asset=&ccode=

Stocks little changed as dollar strengthens

Stock indexes end flat in light trading as dollar weighs on commodities; Dow gains 3 points

By Sara Lepro and Tim Paradis, AP Business Writers , On Wednesday December 30, 2009, 5:11 pm

NEW YORK (AP) -- Stocks ended the next-to-last day of 2009 little changed as welcome news on manufacturing helped offset a drop in commodities prices.

The market drew support Wednesday from a key economic indicator that signaled growth in Midwest manufacturing for a third straight month. The Chicago Purchasing Managers Index rose to 60 in December from 56.1 in November. The report found that production and new orders increased and employment improved.

A rising dollar and light volume held the market's gains in check. A gain in the dollar makes commodities, and thus the shares of companies that produce commodities, less attractive to foreign buyers. It also hurts the profits of companies that do business overseas.

Some investors have been buying the dollar in recent weeks on the belief that the economy is improving and the Federal Reserve will raise interest rates in the next year. That buying interest comes after a months-long slide in the greenback.

Rock-bottom interest rates have encouraged investors this year to move out of cash and into riskier assets such as stocks and commodities that have the potential to earn bigger returns. While a rise in interest rates would be a sign that the economy is on the right track, it could hurt the stock market's advance.

After a 24.7 percent rise in the benchmark Standard & Poor's 500 index this year, many investors have closed their books and are making few moves ahead of the start of 2010. Trading has been quiet with fewer players in the market, though light volume can also bring volatility.

"We've seen oil up and down, the dollar up and down, the market up and down," said Frank Ingarra, co-portfolio manager at Hennessy Funds. "I don't think we'll see a major move one way or the other."

The Dow Jones industrial average ticked up 3.10, or less than 0.1 percent, to 10,548.51, its highest close since Oct. 1, 2008. The Dow traded in a 45-point range, its sixth straight day of moving fewer than 70 points. The last time the Dow held such a tight range for that period was November 1996.

With one trading day left in the year, the Dow is up 61.1 percent from the 12-year low it reached in March, but is still down 25.5 from its peak of 14,164.53 in October 2007.

The S&P 500 index edged up 0.22, or less than 0.1 percent, to 1,126.42, while the Nasdaq composite index rose 2.88, or 0.1 percent, to 2,291.28.

The modest moves came a day after stocks broke a six-day winning streak as reports on home prices and consumer confidence failed to rally investors.

The ICE Futures U.S. dollar index, which measures the dollar against other major currencies, rose 0.1 percent. Gold and other metals fell. Oil prices rose after the government reported that the nation's crude supply fell for a fourth week in a row. Light, sweet crude added 41 cents to settle at $79.28 a barrel on the New York Mercantile Exchange.

Bond prices mostly rose following an auction of seven-year notes. In total, the Treasury auctioned $118 billion in debt for the week. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.79 percent from 3.80 percent. Interest rates on many consumer loans track the yield on the 10-year Treasury.

The day brought reminders that companies are still hurting from the blows of the recession.

The government was preparing to extend another multibillion loan to GMAC Financial Services to further stabilize the auto financing company, according to a person familiar with the matter. GMAC, instrumental to the operations of automakers General Motors Co. and Chrysler Group LLC, has already received $12.5 billion in taxpayer money and is 35 percent owned by the federal government. The person, who spoke on condition of anonymity because discussions weren't complete, said the bailout would be in the range of about $3 billion.

Meanwhile, Aetna Inc. said it expects to book a fourth-quarter charge of up to $65 million to cover the costs of layoffs and consolidations. Shares of the health insurer fell 71 cents, or 2.2 percent, to $32.15.

Falling stocks narrowly outpaced those that rose on the New York Stock Exchange, where volume came to an anemic 644.4 million shares.

In other trading, the Russell 2000 index of smaller companies rose 0.23, or less than 0.1 percent, to 633.41.

Overseas, Britain's FTSE 100 fell 0.7 percent, Germany's DAX index lost 0.9 percent, and France's CAC-40 fell 0.6 percent. Japan's Nikkei stock average fell 0.9 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Two and five year history charts included below where March 2009 really stands out!!!

The full-year stats are dwarfed by the indexes' recovery from the depths of last March, when they hit bottom. The Dow rose 3,881.00, or 59.3 percent from its March 9 close, while the S&P 500 rose 438.57, or 64.8 percent, and the Nasdaq regained 1,000.51, or 78.9 percent.

Light news flow and a poor turnout left stocks to trade in lackluster fashion for most of the session, but some late pressure caused stocks to close at session lows and conclude the year on a weak note. Still, stocks settled only slightly below their 52-week highs with strong gains for the year.

As has been the case all week, participants had few cues for trade this session. Of the few headlines there were, little reaction was made.

The stock market closed out a remarkable 2009 with a loss as investors bet the improving economy will lead the government to pull back on its stimulus measures. But stocks still managed their best year since 2003 as they recovered from the financial crisis and recession.

Thursday's trading, which came on extremely light pre-holiday volume, was a fitting end to a tumultuous year. Stocks fell to 12-year lows by early March on investors' increasing pessimism, then rallied on growing signs of recovery in what turned out to be Wall Street's biggest comeback since the Great Depression. In the last day of the year, more signs of healing first pleased investors, then had them concerned about the economy's ability to thrive without government help.

The thin volume exaggerated the market's moves. The Dow Jones industrial average fell 120.46, or 1.1 percent, to 10,428.05. For the year, the Dow rose 1,651.66, or 18.8 percent.

The NYSE DOW closed LOWER -120.46 points -1.14% on Thursday December 31
Sym. Last......... ........Change..........
Dow 10,428.05 -120.46 -1.14%
Nasdaq 2,269.15 -22.13 -0.97%
S&P 500 1,115.10 -11.32 -1.00%

NYSE Volume 2,547,756,250 (prior 2,683,201,750)
Nasdaq Volume 1,254,659,250 (prior 1,314,929,380)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,412.88 +15.02 +0.28%
DAX 5,957.43 closed
CAC 40 3,936.33 +0.83 +0.02%


Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,546.44 closed
Hang Seng 21,872.50 +375.88 +1.75%
Straits Times 2,897.62 closed

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

Stocks fall sharply as investors close out 2009

Stocks slide in very light trading as investors close out their books on a stellar 2009

By Tim Paradis, AP Business Writer , On Thursday December 31, 2009, 5:30 pm

NEW YORK (AP) -- The stock market closed out a remarkable 2009 with a loss as investors bet the improving economy will lead the government to pull back on its stimulus measures. But stocks still managed their best year since 2003 as they recovered from the financial crisis and recession.

Thursday's trading, which came on extremely light pre-holiday volume, was a fitting end to a tumultuous year. Stocks fell to 12-year lows by early March on investors' increasing pessimism, then rallied on growing signs of recovery in what turned out to be Wall Street's biggest comeback since the Great Depression. In the last day of the year, more signs of healing first pleased investors, then had them concerned about the economy's ability to thrive without government help.

The thin volume exaggerated the market's moves. The Dow Jones industrial average fell 120.46, or 1.1 percent, to 10,428.05. For the year, the Dow rose 1,651.66, or 18.8 percent.

The broader Standard & Poor's 500 index, considered by professionals to be the market's best barometer, fell 11.32, or 1 percent, to 1,115.10. The S&P ended the year with a gain of 211.85, or 23.5 percent.

Meanwhile, the Nasdaq composite index fell 22.13, or 1 percent, to 2,269.15. Powered by the recovery in high-tech stocks, the Nasdaq ended 2009 with a gain of 696.12, 43.9 percent.

The full-year stats are dwarfed by the indexes' recovery from the depths of last March, when they hit bottom. The Dow rose 3,881.00, or 59.3 percent from its March 9 close, while the S&P 500 rose 438.57, or 64.8 percent, and the Nasdaq regained 1,000.51, or 78.9 percent.

News that weekly unemployment claims fell to the lowest level since July 2008 gave stocks an initial blip Thursday, but the market gave back the gains as traders took some profits to close out their books.

Joe Saluzzi, co-head of equity trading at Themis Trading LLC, said the light volume made it hard to read much into the day's move. However, he said the improved jobs figures stirred speculation that the government would be forced to withdraw supports for the economy such as low interest rates, which could fan inflation.

"How can they justify more stimulus if now you're in a growing economy," he said. "The question becomes can the U.S. economy really support itself without the assistance of the U.S. stimulus. My gut says no."

The Labor Department said new claims for unemployment benefits fell by 22,000 to a seasonally adjusted 432,000 last week. Analysts had expected claims would rise. The number of workers continuing to seek unemployment benefits fell by 57,000 to 4.9 million. Analysts predicted an increase.

Many investors believe that the stock market, which has had its best year since 2003, has seen the best of its gains for a while. So many of those working Thursday were moving money out of some stocks.

"Everyone is looking to put a ribbon on the year and wrap things up," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago.

Ablin said investors will be looking at upcoming corporate profit reports and jobs numbers to determine whether the market can hold its huge gains in 2010.

"I have a certain belief that the market can keep going, albeit at kind of a shallower pace, but that's going to require some help from corporate America and the economy itself," he said.

Two stocks fell for every one that rose on the New York Stock Exchange, where volume came to an extremely light 679.7 million shares.

Most bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.84 percent from 3.79 percent late Wednesday. The 10-year yield began 2009 at 2.22, a reflection of investors' high anxiety and need for the safety of government debt.

The dollar, whose decline this year has helped feed the rally in stocks, was mostly lower against other major currencies Thursday. Gold, which has soared in response to the falling dollar and investors' greater appetite for commodities in general, closed at $1,096.20 on the New York Mercantile Exchange after reaching a record high of $1,227.50 on Dec. 3.

Light, sweet crude rose 8 cents to settle at $79.36 per barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 8.02, or 1.3 percent, to 625.39. It ended the year with a gain of 25.2 percent.

Overseas, Britain's FTSE 100 rose 0.3 percent, while France's CAC-40 rose less than 0.1 percent. Markets in Germany and Japan were closed.

0346

 

[bigdog]

Source: http://finance.yahoo.com

The new year began on a strong note as all three major indices made their way to new 52-week highs on the back of broad-based buying. Though trading volume wasn't quite back to average levels, the move was supported by a solid pick up in participation.

Stocks spent the entire session sporting strong gains. Initial support came amid handsome overseas gains and a pullback by the greenback.

The stock market has extended its 2009 rally into the new year.

Major stock indexes surged more than 1.5 percent Monday after improving news on manufacturing from China to the U.S. pointed to a strengthening global economy. The Dow Jones industrial average picked up 156 points.

A U.S. trade group said manufacturing activity expanded faster than expected in December. The Institute for Supply Management's index of manufacturing activity rose to 55.9 from 53.6 in November, more than analysts had expected.

The NYSE DOW closed HIGHER +155.91 points +1.50% on Monday January 4
Sym. Last......... ........Change..........
Dow 10,583.96 +155.91 +1.50%
Nasdaq 2,308.42 +39.27 +1.73%
S&P 500 1,132.99 +17.89 +1.60%
30-yr Bond 46.60% +0.19

NYSE Volume 4,550,828,000 (prior 2,547,756,250)
Nasdaq Volume 1,955,917,500 (prior 1,254,659,250)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,500.34 +87.46 +1.62%
DAX 6,048.30 +90.87 +1.53%
CAC 40 4,013.97 +77.64 +1.97%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,654.79 +108.35 +1.03%
Hang Seng 21,823.28 -49.22 -0.23%
Straits Times 2,894.55 -3.07 -0.11%

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

Stocks climb on manufacturing reports, rising oil

Stocks advance as improving manufacturing reports, rising oil boost hopes for economic rebound

By Tim Paradis, AP Business Writer , On Monday January 4, 2010, 4:26 pm EST

NEW YORK (AP) -- The stock market has extended its 2009 rally into the new year.

Major stock indexes surged more than 1.5 percent Monday after improving news on manufacturing from China to the U.S. pointed to a strengthening global economy. The Dow Jones industrial average picked up 156 points.

A U.S. trade group said manufacturing activity expanded faster than expected in December. The Institute for Supply Management's index of manufacturing activity rose to 55.9 from 53.6 in November, more than analysts had expected.

Overseas markets had started out higher on news that China's manufacturing industry expanded last month at the fastest rate in 20 months.

There were also positive signs on manufacturing activity in Europe. A monthly purchasing managers' index for the 16 countries that use the euro rose to a 21-month high, and a similar survey for Britain rose to a 25-month high.

Meanwhile a weakening dollar boosted commodities prices, lifting energy and materials stocks. An analyst's upgrade of semiconductor maker Intel Corp. sent technology shares higher.

Joe Battipaglia, market strategist for the private client group at Stifel Nicolaus & Co. in Yardley, Pa., said the improved manufacturing activity boosted expectations that an economic recovery is taking hold. In particular, investors are hoping that strength in China will spill over into other countries.

"It looks like China is now the locomotive for the global economic train," Battipaglia said.

Battipaglia warned, however, that strength in China will only last if hard-hit developed economies like the U.S. and Europe can heal fast enough to absorb some of the goods China is creating.

According to preliminary calculations, the Dow industrials rose 155.91, or 1.5 percent, to 10,583.96. The Standard & Poor's 500 index rose 17.89, or 1.6 percent, to 1,132.99, while the Nasdaq composite index rose 39.27, or 1.7 percent, to 2,308.42.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, edged down to 3.83 percent from 3.84 percent late Thursday. Markets were closed Friday for New Year's Day.

Crude oil rose $2.15 to settle at $81.51 per barrel on the New York Mercantile Exchange.

The technology industry got a boost after Robert W. Baird & Co. upgraded chipmaker Intel Corp. to "Outperform" and increased its price target on the stock to $26. The stock has traded in a range of $12.05 to $21.27 in the past 12 months.

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

Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to a relatively light 1 billion shares.

The Russell 2000 index of smaller companies rose 14.71, or 2.4 percent, to 640.10.

Britain's FTSE 100 rose 1.6 percent, Germany's DAX index advanced 1.5 percent, and France's CAC-40 gained 2 percent. Japan's Nikkei stock average rose 1 percent.

 

[bigdog]

Source: http://finance.yahoo.com

For the most part, the stock market lacked direction this session, but it still managed to put together a late advance that helped it settle near its session high. That helped stocks book a modest gain and close near fresh 52-week highs.

Financials were a primary source of support this session. The sector spiked 1.7% as diversified banks climbed 2.6%. European banking giant Barclays (BCS 19.34, +1.01) was especially strong after analysts at Deutsche Bank picked the name as one of its top choices for European bank stocks.

Leadership from financials helped pull stocks up from negative territory a few times this session. Technical support also helped provide a base from which stocks could rebound.

Investors turned cautious on the second trading day of the year as a pair of economic reports sent mixed signals about how the recovery was going.

Major stock indexes ended narrowly mixed a day after the Dow Jones industrials soared more than 150 points on upbeat manufacturing reports in the U.S. and China. Uncertainty over key reports this week on employment and the service industry also kept buyers at bay.

The economic news on Tuesday was muddled. The Commerce Department reported that factory orders rose by more than twice what had been expected in November, reflecting demand in the steel, computer and chemical industries. The gain of 1.1 percent easily beat the 0.5 percent forecast of analysts polled Thomson Reuters.

The NYSE DOW closed LOWER -11.94 points -0.11% on Tuesday January 5
Sym. Last......... ........Change..........
Dow 10,572.02 -11.94 -0.11%
Nasdaq 2,308.71 +0.29 +0.01%
S&P 500 1,136.52 +3.53 +0.31%
30-yr Bond 45.93% -0.67

NYSE Volume 5,650,832,500 (prior 4,550,828,000)
Nasdaq Volume 2,395,186,000 (prior 1,955,917,500)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,522.50 +22.16 +0.40%
DAX 6,031.86 -16.44 -0.27%
CAC 40 4,012.91 -1.06 -0.03%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,681.83 +27.04 +0.25%
Hang Seng 22,279.58 +456.30 +2.09%
Straits Times 2,920.28 +25.73 +0.89%

http://finance.yahoo.com/news/Mixed-economic-data-higher-apf-3753724948.html?x=0

Mixed economic data, higher dollar press stocks

Stocks end flat as rise in factory orders, drop in pending home sales cloud economic picture

By Tim Paradis, AP Business Writer , On Tuesday January 5, 2010, 5:15 pm

NEW YORK (AP) -- Investors turned cautious on the second trading day of the year as a pair of economic reports sent mixed signals about how the recovery was going.

Major stock indexes ended narrowly mixed a day after the Dow Jones industrials soared more than 150 points on upbeat manufacturing reports in the U.S. and China. Uncertainty over key reports this week on employment and the service industry also kept buyers at bay.

The economic news on Tuesday was muddled. The Commerce Department reported that factory orders rose by more than twice what had been expected in November, reflecting demand in the steel, computer and chemical industries. The gain of 1.1 percent easily beat the 0.5 percent forecast of analysts polled Thomson Reuters.

Meanwhile, the number of buyers who agreed to purchase previously occupied homes fell sharply in November, an indication that sales will fall this winter. The National Association of Realtors said its index of pending home sales fell 16 percent, the first drop after nine months of gains. Some drop had been expected as investors raced to buy homes ahead of a tax credit deadline, which was later extended.

A strengthening dollar held stocks to modest moves. A strong dollar makes commodities and shares of the companies that produce them less attractive to foreign buyers. It also hurts the profits of companies that do business overseas.

Investors are looking for clues about the direction of the economy in 2010 after a nine-month rally pushed stocks to steep gains for 2009. Now, analysts say, further signs of strengthening in the economy are needed to help stocks hold their gains. Major stock indexes stand at 15-month highs.

The Dow industrials slipped 11.94, or 0.1 percent, to 10,572.02. The broader Standard & Poor's 500 index rose 3.53, or 0.3 percent, to 1,136.52, its highest close since Oct. 1, 2008. The Nasdaq composite index edged up 0.29, or less than 0.1 percent, to 2,308.71.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume rose to 1.2 billion shares from 1 billion Monday.

Bond prices rose, pushing interest rates lower. The yield on the benchmark 10-year Treasury note fell to 3.76 percent from 3.83 percent late Monday.

Crude oil rose 26 cents to settle at $81.77 a barrel on the New York Mercantile Exchange.

The early days of January are when many investors, from pension funds to individuals, pump money into the markets as they set up their investment strategies for the year. Markets often rise as the new money arrives.

However Nick Kalivas, vice president of financial research at MF Global in Chicago, said investors are cautious ahead of reports on the service industry and employment later in the week because they want to confirm that economy is healing.

"There is a lot of data out the next couple of days that people want to see before they chase a market at its highs," Kalivas said.

The Institute for Supply Management will report its index of activity in the service industry on Wednesday, and on Friday the market will get the most important economic reading of the month, the Labor Department's employment report.

Ford Motor Co.'s shares jumped after the automaker said its December sales jumped 33 percent fed by demand for midsize cars like the Ford Fusion, whose sales rose 83 percent. Ford also had its first full-year gain in U.S. market share since 1995. Ford rose 68 cents, or 6.6 percent, to $10.96.

The Russell 2000 index of smaller companies fell 1.61, or 0.3 percent, to 638.49.

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

 

[bigdog]

Source: http://finance.yahoo.com

Despite plenty of potential catalysts for trade, the broader stock market lacked direction for the second straight session. Natural resource plays showed considerable strength, though.

Participants got a glimpse into the government's official nonfarm payrolls report, which is due Friday, via the latest ADP Employment Report. The ADP report stated that 84,000 jobs were lost in December, down from 145,000 job losses in November. Still, the December tally was a bit more than the 75,000 that many had expected.

Investors treaded water for a second day Wednesday as a batch of mixed economic reports and signs of division among Federal Reserve policymakers offered little insight into the economy.

Stocks ended little changed but modest gains pushed the Standard & Poor's 500 index to a new 15-month high. The cautious tone seen Tuesday and Wednesday comes as investors await the government's monthly employment report Friday.

The day's economic news wasn't enough to galvanize traders still trying to determine which direction the market will take in the early part of 2010.

The NYSE DOW closed HIGHER +1.66 points +0.02% on Wednesday January 6
Sym. Last......... ........Change..........
Dow 10,573.68 +1.66 +0.02%
Nasdaq 2,301.09 -7.62 -0.33%
S&P 500 1,137.14 +0.62 +0.05%
30-yr Bond 46.71% +0.78

NYSE Volume 5,517,165,000 (prior 5,650,832,500)
Nasdaq Volume 2,269,902,500 (prior 2,395,186,000)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,530.04 +7.54 +0.14%
DAX 6,034.33 +2.47 +0.04%
CAC 40 4,012.91 -1.06 -0.03%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,731.45 +49.62 +0.46%
Hang Seng 22,416.67 +137.09 +0.62%
Straits Times 2,930.49 +10.21 +0.35%

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

Stocks end flat following mixed economic reports

Stocks end little changed after mixed signs about economy; traders look to monthly jobs report

By Tim Paradis, AP Business Writer , On Wednesday January 6, 2010, 5:07 pm

NEW YORK (AP) -- Investors treaded water for a second day Wednesday as a batch of mixed economic reports and signs of division among Federal Reserve policymakers offered little insight into the economy.

Stocks ended little changed but modest gains pushed the Standard & Poor's 500 index to a new 15-month high. The cautious tone seen Tuesday and Wednesday comes as investors await the government's monthly employment report Friday.

The day's economic news wasn't enough to galvanize traders still trying to determine which direction the market will take in the early part of 2010.

A sign of growth in the services industry gave some support to stocks. The Institute for Supply Management said its services index rose to 50.1 in December from 48.7 in November. A reading above 50 signals growth.

The welcome news about service companies was offset by a report that employers cut 84,000 private sector jobs last month. The ADP National Employment Report came in worse than the forecasts of analysts polled by Thomson Reuters.

The latest batch of reports are similar to what investors have seen months -- figures that reveal modest improvements but remind them that the economy remains weak. The stock market has been rising for 10 months on signs that the economy is recovering but analysts say stronger signs of growth will be needed to feed its advance in 2010.

Minutes from the Fed's December meeting showed that a "few members" thought that the central bank's $1.25 trillion program to buy mortgages could need to grow, rather than be phased out on March 31. The report did little to deepen investors' insight into the Fed's intentions for interest rates. Treasury prices fell as the minutes underscored some traders' concerns about inflation.

Dave Rovelli, managing director of trading at brokerage Canaccord Adams in New York, said traders aren't willing to place big bets ahead of the Labor Department's report at the end of the week. Economists expect that the unemployment rate ticked up to 10.1 percent in December from 10 percent in November.

Weekly figures for initial claims for jobless benefits are due on Thursday.

"The unemployment number on Friday is the big deal," he said. "And it's light volume so I wouldn't be surprised if we just drift higher."

According to preliminary calculations, the Dow Jones industrial average rose 1.66, or less than 0.1 percent, to 10,573.68. The broader Standard & Poor's 500 index rose 0.62, or 0.1 percent, to 1,137.14, while the Nasdaq composite index fell 7.62, or 0.3 percent, to 2,301.09.

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

Bond prices fell, pushing their yields higher. The yield on the benchmark 10-year Treasury note rose to 3.83 percent from 3.76 percent late Tuesday.

John Dorfman, chairman of Thunderstorm Capital LLC in Boston, said the market is likely being weighed down by investors who waited to sell some of their winning stocks from last year until this week because the taxes will fall under 2010. Beyond tax moves, however, he said many traders are going to be reluctant to wade back into stocks until the market shows more direction. Ultimately, he expects improvements in the economy will push stocks higher.

"My own view is that a genuine and fairly strong recovery is under way and that the market will probably gain 10 percent or more in 2010," Dorfman said.

The dollar mostly fell against other major currencies. Gold rose.

Crude oil rose above $83 per barrel for the first time since October 2008, settling up $1.41 at $83.18 on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies fell 0.54, or 0.1 percent, to 637.95.

Britain's FTSE 100 rose 0.1 percent, Germany's DAX index rose less than 0.1 percent, and France's CAC-40 advanced 0.1 percent. Japan's Nikkei stock average rose 0.5 percent.

 

[bigdog]

Source: http://finance.yahoo.com

A bounce by the buck weighed down stocks during the early going, but strength among financial issues helped carry the broader stock market to its fourth straight gain.

The dollar traded with strength for the entire session and finished with a 0.6% gain against a basket of foreign currencies. Though that gain weighed on the broader market, it was particularly burdensome for raw materials stocks, which had outperformed during the previous session. Materials stocks pared their losses, though; they finished with a 0.5% loss.

Investors' cautious optimism about the job market gave stocks a modest lift Thursday, one day before the government's report on December employment.

Stocks closed mostly higher after many retailers issued upbeat holiday sales figures and the Labor Department reported a leveling of the number of newly laid-off workers applying for unemployment benefits.

The Dow Jones industrial average and the Standard & Poor's 500 index closed at new 15-month highs, while the Nasdaq composite index edged lower.

Some overseas markets fell after China took steps to limit lending and prevent its economy from overheating. Traders fear the moves could affect economic growth around the world.

The NYSE DOW closed HIGHER +33.18 +0.31% on Thursday January 7
Sym. Last......... ........Change..........
Dow 10,606.86 +33.18 +0.31%
Nasdaq 2,300.05 -1.04 -0.05%
S&P 500 1,141.69 +4.55 +0.40%
30-yr Bond 4.69% +0.18

NYSE Volume 5,901,185,500 (prior 5,517,165,000)
Nasdaq Volume 2,307,645,000 (prior 2,269,902,500)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,526.72 -3.32 -0.06%
DAX 6,019.36 -14.97 -0.25%
CAC 40 4,012.91 -1.06 -0.03%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,681.66 -49.79 -0.46%
Hang Seng 22,269.45 -147.22 -0.66%
Straits Times 2,913.25 -17.24

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

Stocks notch modest gains ahead of employment data

Most stocks advance as investors look to December jobs report; Dow stands at 15-month high


By Tim Paradis, AP Business Writer , On Thursday January 7, 2010, 5:38 pm

NEW YORK (AP) -- Investors' cautious optimism about the job market gave stocks a modest lift Thursday, one day before the government's report on December employment.

Stocks closed mostly higher after many retailers issued upbeat holiday sales figures and the Labor Department reported a leveling of the number of newly laid-off workers applying for unemployment benefits.

The Dow Jones industrial average and the Standard & Poor's 500 index closed at new 15-month highs, while the Nasdaq composite index edged lower.

Stuart Schweitzer, global markets strategist at J.P. Morgan's Private Bank in New York, said markets have been in a holding pattern as traders looked to Friday's jobs report from the Labor Department. Analysts are expecting job losses will shrink from the 11,000 lost in November, though some economists expect the economy to add jobs.

"Everyone is waiting for the fireworks," Schweitzer said.

He predicted investors would take in stride a modest loss or gain in jobs, but that any number well outside expectations could cause worries about a slide in the economy or, conversely, that rapid growth would risk triggering inflation.

"It's a case of not too hot and not too cold, but somewhere in the middle," he said.

The government reported a slight rise in claims for unemployment benefits, though the increase was less than expected. The Labor Department said initial claims rose by 1,000 last week. A four-week average of claims is at its lowest point since September 2008 and nearing the point where economists say the economy will begin to create jobs.

Meanwhile, upbeat December retail sales reports and increased forecasts lifted some retailers. Shoppers spent a little more over the holiday season, though consumer spending is expected to be weak amid continuing high unemployment and tight credit.

Sears Holdings Corp., which operates Kmart and Sears, Roebuck and Co., eked out a small gain and offered a fourth-quarter forecast that was sharply above analysts' estimates. Others, including Macy's Inc. and Limited Brands Inc., boosted their profit expectations.

The Dow rose 33.18, or 0.3 percent, to 10,606.86. The broader S&P 500 index rose 4.55, or 0.4 percent, to 1,141.69. It was the highest close for both indexes since Oct. 1, 2008.

The Nasdaq fell 1.04, or 0.1 percent, to 2,300.05.

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

Bond prices were little changed. The yield on the benchmark 10-year Treasury note was unchanged at 3.83 percent, compared with late Wednesday.

The dollar rose, and gold fell. A gain in the dollar weighs on commodity prices by making them more expensive for overseas buyers. That hurts energy and materials companies.

Crude oil fell 52 cents to $82.66 per barrel on the New York Mercantile Exchange.

Thursday's reports come as investors hunt for more evidence of economic strength to sustain a 10-month bull run in the stock market. Trading in recent days has offered few clues about the direction of the markets in 2010 as investors held back ahead of the jobs report. A stubbornly high unemployment rate remains one of the biggest drags on the economy, and investors are still waiting for hiring to rebound before concluding that a true recovery has taken hold.

Among retailers, Sears jumped $10.31, or 11.6 percent, to $99.18, while Macy's rose 39 cents, or 2.3 percent, to $17.49. Limited slipped 31 cents to $18.76.

Homebuilder Lennar Corp. said orders rose during its fiscal fourth quarter for the first time in more than three years. Buyers were taking advantage of lower prices and federal tax credits. The company also reported a profit as it benefited from an income tax adjustment. Its shares rose $1.76, or 12.3 percent, to $15.46.

The Russell 2000 index of smaller companies rose 4.02, or 0.6 percent, to 641.97.

Some overseas markets fell after China took steps to limit lending and prevent its economy from overheating. Traders fear the moves could affect economic growth around the world.

Britain's FTSE 100 fell 0.1 percent, Germany's DAX index lost 0.3 percent, and France's CAC-40 rose 0.2 percent. Japan's Nikkei stock average fell 0.5 percent.

 

[bigdog]

Source: http://finance.yahoo.com

For the week, the Dow advanced 1.8 percent, the S&P 500 index jumped 2.7 percent and the Nasdaq added 2.1 percent.

The latest monthly payrolls report and a raft of analyst rating revisions made up for a lack of corporate headlines this session. Though the general reaction to those reports was negative, stocks still managed to make their way higher.

The early tone to trade was negative as participants pressured stocks upon learning that December nonfarm payrolls dropped by 85,000, which took many by surprise since the consensus called for no change to payrolls. However, nonfarm payrolls for November were revised upward to show an increase of 4,000 jobs. That marked the first payroll increase in two years and helped keep the unemployment rate at 10.0%, which was expected.

A disappointing jobs report couldn't stop the stock market from having a strong start to the new year.

Stocks zigzagged for much of Friday but closed higher as investors took in stride the Labor Department's news that employers cut 85,000 jobs in December, far more than the 8,000 analysts expected. The disappointing numbers were offset by a pleasant surprise: November's report was revised to show the first job gains in nearly two years.

The Dow Jones industrial average tacked on 11 points to end at a new 15-month high, while broader indicators logged bigger gains. All the major indexes posted advances for the week, a reassuring sign given that stocks often end the year higher after a strong start to January.

The NYSE DOW closed HIGHER +11.33 +0.11% on Friday January 8
Sym. Last......... ........Change..........
Dow 10,618.19 +11.33 +0.11%
Nasdaq 2,317.17 +17.12 +0.74%
S&P 500 1,144.98 +3.29 +0.29%
30-yr Bond 4.69% +0.18

NYSE Volume 4,885,615,500 (prior 5,901,185,500)
Nasdaq Volume 2,166,563,000 (prior 2,307,645,000)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,534.24 +7.52 +0.14%
DAX 6,037.61 +18.25 +0.30%
CAC 40 4,012.91 -1.06 -0.03%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,798.32 +116.66 +1.09%
Hang Seng 22,296.75 +27.30 +0.12%
Straits Times 2,922.76 +9.51 +0.33%

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

Stocks gain as traders take jobs report in stride

Stocks end higher as disappointing December jobs report leaves investors unfazed; Dow adds 11

By Stephen Bernard and Tim Paradis, AP Business Writers , On Friday January 8, 2010, 5:48 pm

NEW YORK (AP) -- A disappointing jobs report couldn't stop the stock market from having a strong start to the new year.

Stocks zigzagged for much of Friday but closed higher as investors took in stride the Labor Department's news that employers cut 85,000 jobs in December, far more than the 8,000 analysts expected. The disappointing numbers were offset by a pleasant surprise: November's report was revised to show the first job gains in nearly two years.

The Dow Jones industrial average tacked on 11 points to end at a new 15-month high, while broader indicators logged bigger gains. All the major indexes posted advances for the week, a reassuring sign given that stocks often end the year higher after a strong start to January.

The December job losses were disconcerting as a rebound in employment is key to a sustained recovery in the economy. But the market likely focused on the fact that a pickup in the labor market often lags other improvements following a recession.

"I don't think that anyone should expect a flip of a switch," said Linda Duessel, equity market strategist at Federated Investors. "We were losing 600,000, 700,000 jobs a year ago and we are now toggling around zero. There is nothing disappointing about that."

Figures from recent months were revised to show that the economy generated 4,000 jobs in November. But the revisions also showed a loss of 16,000 more jobs than previously estimated in October.

The government also reported the unemployment rate held at 10 percent. That raised concerns that unemployed or fearful consumers won't spend, making it harder for companies to generate the big profits investors have been predicting.

Reports next week will bring an early look at how companies did in the October-December quarter. Investors are looking for companies to report stronger sales and outlooks for the rest of this year.

Peter Cardillo, chief market economist at the brokerage Avalon Partners Inc. in New York, said the trend in the labor market is still positive. He noted many of the December cuts were in the construction industry, which is likely due to seasonal slowdowns.

"It was a disappointment, but I think we're on the right track. I think unemployment will begin to show growth very shortly," he said.

The Dow rose 11.33, or 0.1 percent, to 10,618.19. The Standard & Poor's 500 index rose 3.29, or 0.3 percent, to 1,144.98, its fifth straight advance. The Dow and the S&P 500 index ended at their highest levels since Oct. 1, 2008.

The Nasdaq composite index rose 17.12, or 0.7 percent, to 2,317.17.

For the week, the Dow advanced 1.8 percent, the S&P 500 index jumped 2.7 percent and the Nasdaq added 2.1 percent. Most of the climb came Monday, the first trading day of the year, when improving news on manufacturing in China, the U.S. and Europe hinted at a strengthening global economy.

The climb for the week was a welcome sign for 2010. Of the last 36 times when the S&P 500 index carved gains in the first five days of January, it ended the year higher 31 times, or 86.1 percent of the time, according to the Stock Trader's Almanac.

Next week, investors will get reports on retail sales and industrial production. A handful of corporate earnings reports from the final quarter of 2009 will start to arrive. Aluminum producer Alcoa Inc. is scheduled to report its results after the closing bell on Monday and banker JPMorgan Chase & Co. reports on Friday.

In other trading, interest rates held in a narrow range on the bond market. The yield on the 10-year Treasury note was flat at 3.83 percent from late Thursday.

The dollar and gold both fell.

The Russell 2000 index of smaller companies rose 2.59, or 0.4 percent, to 644.56.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume fell to 994.2 million shares from 1.2 billion Thursday.

Britain's FTSE 100 rose 0.1 percent. Germany's DAX index gained 0.3 percent, while France's CAC-40 rose 0.5 percent. Japan's Nikkei stock average rose 1.1 percent.
0751

 

[bigdog]

Source: http://finance.yahoo.com

Despite mediocre data, the Dow and the S&P 500 made their way to fractionally improved 52-week highs amid modest support. Stocks were generally flat in the early going.

Participants showed little reaction to news that advance retail sales for December decreased 0.3%, which was weaker than the 0.5% increase that had been expected. Sales less autos decreased 0.2%, but that was also worse than the 0.3% increase that many had forecast. The figures were underwhelming, but many attributed the drop to the previous month's 1.8% spike in retail sales and 1.9% jump in sales less autos.

The Dow Jones industrial average closed above 10,700 for the first time in 15 months on Thursday as investors bet that stronger results would revive a disappointing start to the corporate earnings season.

The stock market's advance was uneven, with technology stocks rising ahead of quarterly earnings from chip maker Intel Corp. and financials climbing before a profit report from JPMorgan Chase & Co. due Friday. Safe havens like utilities and consumer staples stocks fell.

The Dow industrials rose 30 points, while broader indexes posted bigger advances.

The NYSE DOW closed HIGHER +29.78 +0.28% on Thursday January 15
Sym. Last......... ........Change..........
Dow 10,710.55 +29.78 +0.28%
Nasdaq 2,316.74 +8.84 +0.38%
S&P 500 1,148.46 +2.78 +0.24%
30-yr Bond 4.6780% -0.2900

NYSE Volume 4,459,608,500
Nasdaq Volume 2,301,466,000

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,498.20 +24.72 +0.45%
DAX 5,988.88 +25.74 +0.43%
CAC 40 4,015.77 +14.91 +0.37%


Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,907.68 +172.65 +1.61%
Hang Seng 21,716.95 -31.65 -0.15%
Straits Times 2,909.52 +21.14 +0.73%

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

Stocks rise as optimism builds about earnings

Stocks advance as investors look past weak start to earnings seasons; Dow tops 10,700

By Stephen Bernard and Tim Paradis, AP Business Writers , On Thursday January 14, 2010, 4:48 pm

NEW YORK (AP) -- The Dow Jones industrial average closed above 10,700 for the first time in 15 months on Thursday as investors bet that stronger results would revive a disappointing start to the corporate earnings season.

The stock market's advance was uneven, with technology stocks rising ahead of quarterly earnings from chip maker Intel Corp. and financials climbing before a profit report from JPMorgan Chase & Co. due Friday. Safe havens like utilities and consumer staples stocks fell.

The Dow industrials rose 30 points, while broader indexes posted bigger advances.

The gains came after SAP, a major business software maker based in Germany, said its fourth-quarter revenue fell less than forecast. That provided some reassurance that companies are becoming more willing to invest in technology. Investors are also watching closely to see whether companies can bolster their earnings with solid revenues instead of just continuing to cut costs.

Anticipation that corporate earnings reports would turn around following a weak showing by aluminum maker Alcoa Inc. on Monday helped investors look past a mixed bag of economic news. Intel's revenue and earnings came in far ahead of analysts' expectations after the closing bell.

The government said businesses increased their inventories by a larger-than-expected amount in November. The gain is a welcome sign for the economy and suggests that businesses are feeling more confident that sales will pick up. It was the second straight month that stockpiles rose after 13 months of declines.

The positive news on inventories helped offset weaker reports on retail sales and initial unemployment claims.

The Commerce Department said business inventories rose by 0.4 percent in November, double the increase economists expected. Earlier, it said retail sales fell 0.3 percent in December. Economists polled by Thomson Reuters had been expected an increase.

Dave Stepherson, portfolio manager at Hardesty Capital Management in Baltimore, said the retail sales report was disappointing, but not terribly surprising because of uncertainty still surrounding the job market.

"You're not going to get one until you get the other," Stepherson said. "It's sort of a catch-22."

The Labor Department reported workers seeking unemployment benefits for the first time rose by 11,000 last week, more than the 3,000 economists had expected. The jump was due partly to typical seasonal layoffs in the retail, manufacturing and construction industries.

Investors are becoming accustomed to seeing jagged indicators on the economy and have generally not lost their cool on the occasional poor economic report. However analysts widely believe that there will need to be a meaningful pickup in job creation if a 10-month stock rally is to continue.

"The economy has already shown signs of improvement and in investors' minds the question is how much of that is already priced into the market," said Brian Lazorishak, portfolio manager at Chase Investment Council in Charlottesville, Va.

According to preliminary calculations, the Dow rose 29.78, or 0.3 percent, to 10,710.55. The broader Standard & Poor's 500 index rose 2.78, or 0.2 percent, to 1,148.46, and the Nasdaq composite index rose 8.84, or 0.4 percent, to 2,316.74.

Demand for the safety of government debt rose following the economic reports and strong demand at a Treasury Department auction of $13 billion in 30-year bonds. Treasury prices rose, pushing yields lower. The yield on the benchmark 10-year note fell to 3.75 percent from 3.80 percent late Wednesday.

SAP rose most of the day but ended down 23 cents to $50.16. Intel rose 52 cents to $21.48 and gained 2 percent in after-hours electronic trading following the release of its results.

JPMorgan rose 44 cents to $44.69.

The dollar was mixed again other major currencies. Gold rose modestly.

Crude oil fell 26 cents to $79.39 per barrel on the New York Mercantile Exchange.

Three stocks rose for every two that fell on the New York Stock Exchange. Volume, which has been light since late 2009, fell to 887.4 million shares compared with 969.7 million Wednesday.

The Russell 2000 index of smaller companies rose 2.87, or 0.5 percent, to 646.43.

Overseas markets rallied as investors became more comfortable with China's recent moves to tighten monetary policy. China is making the moves, such as forcing banks to hold more reserves, to discourage excess lending.

Britain's FTSE 100 gained 0.5 percent, Germany's DAX index and France's CAC-40 each rose 0.4 percent. Japan's Nikkei stock average rose 1.6 percent

 

[bigdog]

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week down 8.54, or 0.1 percent, at 10,609.65. The Standard & Poor's 500 index fell 8.95, or 0.8 percent, to 1,136.03. The Nasdaq composite index fell 29.18, or 1.3 percent, to 2,287.99.

Sellers crowded the market to hand stocks their worst loss in four weeks. The broad-based push came despite better-than-expected earnings from bellwethers Intel and JPMorgan.

Semiconductor giant Intel (INTC 20.80, -0.68) announced after the previous session's close better-than-expected earnings of $0.40 per share. It even went on and issued solid revenue guidance for the current quarter. However, participants opted to sell the news of the beat after they had watched the stock climb appreciably in the sessions ahead of its report. The stock is still up roughly 2% since the start of the year.

The Dow Jones industrial average had its first triple-digit drop of 2010 as mounting losses from loans at JPMorgan Chase & Co. and a disappointing consumer sentiment reading sent investors rushing from stocks.

Financial stocks led the market lower Friday, pulling major stock indexes down about 1 percent from 15-month highs. The Dow lost almost 101 points, its steepest drop since Dec. 31. Interest rates fell in the bond markets as investors bought Treasurys in search of safety.

JPMorgan, regarded as one of the strongest U.S. banks, warned investors it was too soon to say that losses on mortgages and other loans have peaked. The weakness in JPMorgan's consumer business hurt other financial stocks, which led the rest of the market lower.

The NYSE DOW closed LOWER +29.78 +0.28% on Friday January 15
Sym. Last......... ........Change..........
Dow 10,609.65 -100.90 -0.94%
Nasdaq 2,287.99 -28.75 -1.24%
S&P 500 1,136.03 -12.43 -1.08%
30-yr Bond 4.5750% -0.4900

NYSE Volume 5,459,121,500 (prior day 4,459,608,500)
Nasdaq Volume 2,685,826,500 (prior day 2,301,466,000)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,455.37 -42.83 -0.78%
DAX 5,875.97 -112.91 -1.89%
CAC 40 3,954.38 -61.39 -1.53%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,982.10 +74.42 +0.68%
Hang Seng 21,654.16 -62.79 -0.29%
Straits Times 2,908.42 -1.10 -0.04%

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

Stocks fall on JPMorgan results, sentiment survey

Stocks slide as JPMorgan's revenue falls short; consumer sentiment fans concerns about economy

By Tim Paradis, AP Business Writer , On Friday January 15, 2010, 5:58 pm EST

NEW YORK (AP) -- The Dow Jones industrial average had its first triple-digit drop of 2010 as mounting losses from loans at JPMorgan Chase & Co. and a disappointing consumer sentiment reading sent investors rushing from stocks.

Financial stocks led the market lower Friday, pulling major stock indexes down about 1 percent from 15-month highs. The Dow lost almost 101 points, its steepest drop since Dec. 31. Interest rates fell in the bond markets as investors bought Treasurys in search of safety.

JPMorgan, regarded as one of the strongest U.S. banks, warned investors it was too soon to say that losses on mortgages and other loans have peaked. The weakness in JPMorgan's consumer business hurt other financial stocks, which led the rest of the market lower.

Investors took little solace from a much stronger than expected profit report late Thursday from Intel Corp., the biggest maker of computer chips.

Commodity prices slumped as the dollar turned higher, and a disappointing report on consumer sentiment also weighed on the market. The preliminary Reuters/University of Michigan consumer sentiment index for January rose to 72.8 from 72.5 in late December but came in weaker than economists had forecast.

The news from JPMorgan brought concerns about profits at other big banks, many of which post results next week. Banks have been saying since the financial crisis exploded in the fall of 2008 that mortgages resetting at higher rates and job losses would push more loans into default. The latest comments gave investors a fresh reminder that the economy still needs more time to heal.

After a 10-month run in the market that has been all but unbroken, some investors think stocks are running low on gas. Light trading volume since November indicates there is little conviction behind the market's recent ascent. The Dow on Thursday closed above 10,700 for the first time since October 2008 and has climbed 62.1 percent since March, though it's still down 25.1 percent from its peak in October 2007.

The market will get additional signals about the economy next week as many more companies report earnings. U.S. markets are closed on Monday for Martin Luther King Jr. Day.

Adam Gould, senior portfolio manager at Direxion Funds in New York, said the reaction to JPMorgan's report signaled that investors had gotten too far ahead of themselves in predicting stellar earnings from companies.

"The market has been pricing in the best-case scenario for earnings for all of these companies," he said. "I think with an earnings report like this six months ago, we would've seen stocks rally."

The Dow fell 100.90, or 0.9 percent, to 10,609.65, the biggest drop since it lost 120 points on the final day of 2009. The broader Standard & Poor's 500 index fell 12.43, or 1.1 percent, to 1,136.03, and the Nasdaq composite index fell 28.75, or 1.2 percent, to 2,287.99.

Bond prices rose, pushing their yields lower. The yield on the benchmark 10-year Treasury note fell to 3.68 percent from 3.74 percent late Thursday.

The dollar rose against most major currencies. That hurt commodities, which are priced in dollars. A stronger greenback makes commodities like oil more expensive to foreign buyers.

Crude oil fell $1.39 to settle at $78 per barrel on the New York Mercantile Exchange. Gold fell.

The day's slide as investors await earnings next week from Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., Morgan Stanley and Wells Fargo & Co.

Jim Herrick, director of equity trading at Baird & Co. in Milwaukee, said JPMorgan's report prompted selling because the bank is seen as stronger than other banks and because financial stocks have been the biggest drivers of the market's climb since March.

"The concern is that this is a harbinger of things to come as far as earnings," he said. "It's only smart to take chips off the table after the run we've had and sit on the sides and wait for earnings to come out."

After a strong start to the year, the market's advance slowed during week and the modest gains were eaten by Friday's slide. Caution about earnings from the final three months of 2009 grew after aluminum producer Alcoa Inc. posted disappointing results.

For the week, the Dow slipped 0.1 percent, the S&P 500 index fell 0.8 percent and the Nasdaq lost 1.3 percent.

Among banks, JPMorgan fell $1.01, or 2.3 percent, to $43.68. Morgan Stanley fell 82 cents, or 2.6 percent, to $30.38, while Citigroup fell 9 cents, or 2.6 percent, to $3.42.

Two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 4.8 billion shares as options contracts expired on some stocks. Volume Thursday came to 3.9 billion shares.

The Russell 2000 index of smaller companies fell 8.47, or 1.3 percent, to 637.96.

Britain's FTSE 100 fell 0.8 percent, Germany's DAX index fell 1.9 percent, and France's CAC-40 lost 1.5 percent. Earlier, Japan's Nikkei stock average rose 0.7 percent.

The Dow Jones industrial average closed the week down 8.54, or 0.1 percent, at 10,609.65. The Standard & Poor's 500 index fell 8.95, or 0.8 percent, to 1,136.03. The Nasdaq composite index fell 29.18, or 1.3 percent, to 2,287.99.

The Russell 2000 index, which tracks the performance of small company stocks, fell 6.60, or 1 percent, for the week to 637.96.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,604.82, down 101.96, or 0.9 percent.
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