NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

For the week, the Dow and the S&P 500 index each rose 0.9 percent while the Nasdaq jumped 2 percent.

U.S. markets are closed Monday for President's Day.

Leadership from the tech sector helped stocks trim steep losses that stemmed from a stronger dollar.

The stock market gapped down in the early going to trade with a loss of more than 1% as the Dollar Index climbed to a near 1% gain amid a sharp decline in the euro, which was weakened by a weaker-than-expected fourth quarter eurozone GDP reading. Meanwhile, pledged support for Greece from the International Monetary Fund (IMF) and the European Central Bank failed to support the euro.

Industrial stocks stumbled Friday after China said it would take more steps to keep its economy from growing too fast.

Regulators in China are trying to keep the nation's rapid economic growth from getting out of hand. But investors worry that a slowdown in China could disrupt a U.S. recovery by hurting exports and profits of companies that do business there.

The Dow Jones industrial average closed down 45 points but had been down as much as 160 points after China said its banks would have to hold on to more cash. That cuts down on how much they can lend.

The NYSE DOW closed LOWER -45.05 points -0.44% on Friday February 12
Sym. Last......... ........Change..........
Dow 10,099.14 -45.05 -0.44%
Nasdaq 2,183.53 +6.12 +0.28%
S&P 500 1,075.51 -2.96 -0.27%
30-yr Bond 4.6570% -0.2200

NYSE Volume 5,329,030,500 (prior day 5,165,277,500)
Nasdaq Volume 2,236,217,250 (prior day 2,149,687,250)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,142.45 -19.03 -0.37%
DAX 5,500.39 -3.54 -0.06%
CAC 40 4,012.91 -1.06 -0.03%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,092.19 +128.20 +1.29%
Hang Seng 20,268.69 -22.00 -0.11%
Straits Times 0.00 0.00 0.00%

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

Stocks end mixed after China slows lending again

Stocks finish mixed after China curbs bank lending to slow its economy; Dow falls 45 points

By Stephen Bernard and Tim Paradis, AP Business Writers , On Friday February 12, 2010, 4:56 pm EST
NEW YORK (AP) -- Industrial stocks stumbled Friday after China said it would take more steps to keep its economy from growing too fast.

Regulators in China are trying to keep the nation's rapid economic growth from getting out of hand. But investors worry that a slowdown in China could disrupt a U.S. recovery by hurting exports and profits of companies that do business there.

The Dow Jones industrial average closed down 45 points but had been down as much as 160 points after China said its banks would have to hold on to more cash. That cuts down on how much they can lend.

Stocks ended mixed but the Dow and other major indexes posted gains for the week, their first after four losing weeks.

The surprise announcement out of China came a day after a tame inflation report there raised hopes that the country wouldn't have to do more to put the brakes on its supercharged economy. The market pulled off of its lows as the day went on as traders saw merit in China's policy of keeping its growth under control.

China's move to curtail lending was only the latest development to rattle traders. The stock market has fallen from 15-month highs in the past four weeks as traders recoil from policy fights in Washington and from economic problems popping up in Europe such as Greece's debt crisis.

Just the whiff of a slowdown in China was enough to batter shares of industrial companies and materials producers. The reasons are twofold: A slower-growing Chinese economy would mean weaker demand for industrial goods like metals and jet engines. Also, a jump in the dollar and the corresponding weakness in commodities prices that resulted hurt companies that rely on oil, copper and other basic materials to make money.

Aluminum producer Alcoa, airplane maker Boeing and General Electric each fell more than 1 percent. All three are among the 30 stocks that make up the Dow Jones industrials.

Richard C. Kang, chief investment officer and director of research at Emerging Global Advisors in Ridgewood, N.J., said big U.S. companies now look to developing markets like China for a growing part of their sales so the strength of foreign economies is crucial.

"Every investor always thought 'China builds, Wal-Mart sells. End of story,'" Kang said. "If you look at the U.S. and who they export to, China is very quickly going up that list."

A similar action to curb bank lending nearly a month ago in China spooked the market and helped start a slide that has brought major indexes down for four straight weeks. In afternoon trading, the Dow was above 10,000 but barely in the black for the week.

Concerns about debt problems in Greece as well as Portugal, Ireland and Spain hurt stocks during the week. On Thursday, European Union leaders pledged to provide Greece with support. There has been worry that debt problems there could spread and destabilize Europe's common currency, the euro.

According to preliminary calculations, the Dow fell 45.05, or 0.4 percent, to 10,099.14. The Standard & Poor's 500 index dropped 2.96, or 0.3 percent, to 1,075.51, while the Nasdaq composite index rose 6.12, or 0.3 percent, to 2,183.53.

For the week, the Dow and the S&P 500 index each rose 0.9 percent while the Nasdaq jumped 2 percent.

U.S. markets are closed Monday for President's Day.

The slide Friday follows a strong performance a day earlier after European leaders said they would help Greece with its debt problems.

Barbara Marcin, manager at the Gabelli Blue Chip Value Fund in Rye, N.Y., said investors have been skittish in the past month because the financial crisis made clear that problems in one market can leap to others. In 2007, problems with bad home loans in the U.S. began hurting investors overseas who held the mortgages.

"A disruption in one financial market can lead to other areas that were previously unconnected," she said.

With investors pulling out of riskier assets like stocks and commodities, safe-haven investments like Treasurys and the dollar rose.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.70 percent from 3.73 percent late Thursday.

The stronger dollar hurt commodity prices, which are priced in dollars and become more expensive for foreign buyers when the dollar rises.

Crude oil fell $1.15 to $74.13 per barrel on the New York Mercantile Exchange after four days of gains.

The concern about China mainly overshadowed a Commerce Department report that retail sales grew more than expected in January. Retail sales rose 0.5 percent last month, more than the 0.3 percent expected by economists polled by Thomson Reuters. The report was the best showing since November.

Some of the swings in stocks Friday came as Warren Buffett's Berkshire Hathaway Inc. was added to the S&P 500 index. Funds that mirror the composition of the index had to buy the stock, which was added to the index at the end of the day.

Alcoa Inc. fell 30 cents, or 2.2 percent, to $13.28, while Boeing Co. dropped 94 cents, or 1.6 percent, to $59.65. General Electric Co. slipped 22 cents, or 1.4 percent, to $15.55.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume came to 1.4 billion shares compared with 1.1 billion Thursday.

The Russell 2000 index of smaller companies rose 5.26, or 0.9 percent, to 610.72.

Overseas, Britain's FTSE 100 fell 0.4 percent, Germany's DAX index lost 0.1 percent, and France's CAC-40 fell 0.5 percent. Japan's Nikkei stock average rose 1.3 percent.

2989

 

[bigdog]

Source: http://finance.yahoo.com

U.S. markets were closed Monday February 15 for President's Day.

The NYSE DOW closed LOWER -45.05 points -0.44% on Friday February 12
Sym. Last......... ........Change..........
Dow 10,099.14 -45.05 -0.44%
Nasdaq 2,183.53 +6.12 +0.28%
S&P 500 1,075.51 -2.96 -0.27%
30-yr Bond 4.6570% -0.2200

NYSE Volume 5,329,030,500 (prior day 5,165,277,500)
Nasdaq Volume 2,236,217,250 (prior day 2,149,687,250)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,167.47 +25.02 +0.49%
DAX 5,511.10 +10.71 +0.19%
CAC 40 3,609.22 +10.15 +0.28%


Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,013.30 -78.89 -0.78%
Hang Seng 20,268.69 holiday Monday Feb 15
Straits Times 2,758.90 holiday Monday Feb 15

http://finance.yahoo.com/news/European-markets-edge-up-apf-2483718261.html?x=0

European markets edge up despite Greek debt fears

European stocks edge higher despite ongoing Greek debt fears as euro ministers prepare to meet

By Pan Pylas, AP Business Writer , On Monday February 15, 2010, 12:09 pm EST

LONDON (AP) -- European stock markets won some respite Monday ahead of a meeting of eurozone finance ministers in Brussels, where the Greek debt crisis will inevitably top the agenda. Public holidays in Asia as well as the U.S. have kept volumes low.

The FTSE 100 index of leading British shares closed up 25.02 points, or 0.5 percent, at 5,167.47 while Germany's DAX rose 10.71 points, or 0.2 percent, at 5,511.10. The CAC-40 in France was 11.27 points, or 0.3 percent, higher at 3,610.34.

And with Wall Street closed Monday for the Presidents Day holiday, investors held back from launching a new attack on the euro, which remained steady over the day around the $1.36 mark. Last week, at the height of the Greek fiscal concerns, the euro had slid to a nine-month low of $1.3533, way down on December's high above $1.50.

The main point of interest in the markets continues to be the debt problems afflicting Greece, as finance ministers from the 16 euro countries gather in the wake of last Thursday's meeting of EU leaders. On Tuesday, the finance ministers of the full 27-nation European Union meet.

Though EU leaders gave Greece some vocal support, no money or guarantee was offered, primarily because Germany was not willing to stump up cash as that could undermine German bonds and put further pressure on the euro.

Instead, all agreed that Greece's progress in bringing down its budget deficit will be closely monitored and it would not be allowed to threaten the eurozone. Markets interpreted the latter comment as an implicit guarantee that eurozone policymakers will help the country if its own efforts fail.

An ensuing narrowing in spreads between German and Greek bonds -- a sign that the markets think a Greek default is becoming less likely -- and a more steady tone to the euro have diminished expectations that anything substantially new will emerge later.

Frederik Ducrozet, eurozone economist at Credit Agricole, said last Thursday's EU statement was interpreted as a "major commitment" to support Greece to avoid possible contagion risks to other countries like Portugal and Spain.

Greece's finance minister George Papaconstantinou said Monday that a detailed rescue plan from other eurozone nations would be the best way to soothe market fears that Greece could default on debt payments.

"My guess is that what will stop markets attacking Greece at the moment is a further more explicit message that makes operational what has been decided last Thursday," he said.

Dubai is also a growing market concern amid fears that the highly indebted emirate may repay creditors less than the amounts due -- it was November's debt postponement from Dubai World, a government investment company with around $59 billion in debts, that stoked the markets' concerns about overborrowed countries.

Dubai's stock market fell sharply while the cost of insuring against the emirate's debts edged back up.

"The theme of sovereign debt risk is likely to remain on investors' agenda as fresh rumblings in Dubai make clear," said Neil Mackinnon, global macro strategist at VTB Capital.

Earlier, much of Asia was closed for the Lunar New Year holiday, including Hong Kong, Shanghai, Singapore and Seoul.

However, Japanese and Australian markets fell as investors reacted to China's move late Friday to curtail bank lending to cool off strong growth there.

Better-than-expected Japanese fourth quarter economic growth figures failed to lift Tokyo's benchmark Nikkei 225 index, which slid 78.89 points, or 0.8 percent, to close at 10,013.30. Analysts said that the monetary tightening in China -- the second such move in a month -- and uncertainty about the economic outlook in coming quarters weighed on sentiment.

Japan's gross domestic product grew at an annual pace of 4.6 percent in the October-December period, keeping Japan just ahead of China as the world's No. 2 economy. Japan's nominal GDP for the 2009 calendar year came to about $5.1 trillion, ahead of China's $4.9 trillion.

Australia's benchmark S&P/ASX200 fell 16.6 points, or 0.4 percent, to 4,545.5.

Wall Street is closed for the Presidents Day holiday.

Elsewhere, oil prices were flat, with benchmark crude for March delivery down 18 cents to $73.95 a barrel

 

[bigdog]

Source: http://finance.yahoo.com

Stocks finished at session highs in their best single-session percentage advance in three months as buyers returned from an extended weekend to offer stocks broad-based support.

Nearly 95% of the names in the S&P 500 booked gains this session, but the strongest moves were made by energy plays, which advanced a collective 2.7%. The move was helped by a 3.9% spike in crude oil prices, which settled pit trade at $77.01 per barrel.

Signs that the economy is indeed strengthening gave investors a surge of optimism and sent stocks sharply higher.

The Dow Jones industrials soared almost 170 points Tuesday on upbeat earnings reports and corporate deals. Investors who have been anxious in recent weeks about economic problems overseas were able to put aside their concerns for the time being. They focused instead on the domestic economy.

The dollar fell as investors felt less of a need to stash their money in safer investments. Oil, gold and other commodities joined stocks as the beneficiaries of the market's renewed confidence. And the stocks of energy and materials producers were among the day's big winners.

The NYSE DOW closed HIGHER +169.67 points +1.68% on Tuesday February 16
Sym. Last......... ........Change..........
Dow 10,268.81 +169.67 +1.68%
Nasdaq 2,214.19 +30.66 +1.40%
S&P 500 1,094.87 +19.36 +1.80%
30-yr Bond 4.6390% -0.1800

NYSE Volume 4,763,407,500 (prior day 5,329,030,500)
Nasdaq Volume 2,008,953,880 (prior day 2,236,217,250)


Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,244.06 +76.59 +1.48%
DAX 5,592.12 +81.02 +1.47%
CAC 40 4,012.91 -1.06 -0.03%


Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,034.25 +20.95 +0.21%
Hang Seng 20,268.69 holiday Feb 16
Straits Times 2,758.90 holiday Feb 16

Markets in Shanghai, Hong Kong, Taiwan, Singapore and Malaysia were closed for Lunar New Year holidays.

http://finance.yahoo.com/news/Stocks-gain-on-earnings-deals-apf-1308889964.html?x=0

Stocks gain on earnings, deals and hope for Greece

Stocks rise on hopeful signs for US economy; Kraft, Merck profits rise

By Stephen Bernard, AP Business Writer , On Tuesday February 16, 2010, 4:58 pm
NEW YORK (AP) -- Signs that the economy is indeed strengthening gave investors a surge of optimism and sent stocks sharply higher.

The Dow Jones industrials soared almost 170 points Tuesday on upbeat earnings reports and corporate deals. Investors who have been anxious in recent weeks about economic problems overseas were able to put aside their concerns for the time being. They focused instead on the domestic economy.

The dollar fell as investors felt less of a need to stash their money in safer investments. Oil, gold and other commodities joined stocks as the beneficiaries of the market's renewed confidence. And the stocks of energy and materials producers were among the day's big winners.

European markets also rose following new plans by European Union leaders to push Greece to get its budget under control. European officials gave Greece one month to prove it can cut its deficits. Debt problems in European countries including Greece, Portugal and Spain have been a major factor behind weakness in global stock markets in recent weeks.

A strong earnings report from Barclays, a major European bank, also gave the market some relie. European banks have been slower to recover than their U.S. counterparts, and investors saw the bounceback at Barclays as an encouraging sign.

In the U.S., Kraft Foods Inc. and apparel retailer Abercrombie & Fitch reported earnings that beat expectations, while drugmaker Merck & Co. said profits jumped after the company bought its longtime partner Schering-Plough Corp.

Earnings reports over the past month have mostly come in better than expected, but problems in the global economy have overshadowed that good news and pushed the market lower.

"Earnings have been good, but pushed to the back seat," behind Europe's problems, said Alan B. Lancz, president of Alan B. Lancz & Associates in Toledo, Ohio. The strong reports Tuesday "superseded some of these worries."

Meanwhile a bold acquisition move by the nation's largest mall owner raised hopes that businesses are feeling more confident about the economy.

Simon Property Group has offered to acquire its ailing rival, General Growth Properties, for $10 billion. General Growth, the No. 2 mall operator, filed for bankruptcy protection last year.

According to preliminary calculations, the Dow rose 169.67, or 1.7 percent, to 10,268.81. The Standard & Poor's 500 index rose 19.36, or 1.8 percent, to 1,094.87, while the Nasdaq composite index rose 30.66, or 1.4 percent, to 2,214.19.

About five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.08 billion shares.

In other deal news, JPMorgan Chase & Co. said it was buying RBS Sempra Commodities' global oil, global metals and European power and gas assets in a deal worth about $1.7 billion. The move nearly doubles JPMorgan's corporate client base for commodities.

Economic reports throughout the holiday-shortened week will also provide insight into the economy. Market were closed Monday for President's Day.

A report on manufacturing in the New York area was stronger than expected. The Empire State manufacturing index rose to 24.91 this month, compared with a forecast of 18, according to economists polled by Thomson Reuters. The index was 15.92 last month.

Reports on housing starts, jobless claims and inflation are due out later this week.

Merck rose 74 cents, or 2 percent, to $37.66. In addition to its earnings results Merck also announced details of the combined company's restructuring plans, the first phase of which expected to bring annual savings of up to $3 billion in 2012.

Barclays' New York-listed shares jumped $2.35, or 13 percent, to $19.03.

Simon Property rose $2.82 or 3.9 percent to $74.82 after announcing its hostile offer for General Growth. General Growth's best known centers include the Glendale Galleria in Southern California and the South Street Seaport in Manhattan.

Simon Property's bold move "sends a signal that the economy might be doing better," said Giri Cherukuri, a portfolio manager and head trader at OakBrook Investments in Lisle, Ill. The Simon Property deal is especially positive because it shows mall operators are upbeat about the retail industry and employment.

Bond prices edged higher as concerns about the Greek debt crisis began to wane. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.67 percent from 3.70 percent late Friday.

The dollar fell. Crude oil jumped $2.88 or 4 percent to settle at $77.01 a barrel.

The Russell 2000 index of smaller companies rose 10.12, or 1.7 percent, to 620.84.

Overseas, Britain's FTSE 100 rose 1.5 percent, Germany's DAX index gained 1.7 percent, and France's CAC-40 rose 1.7 percent. Japan's Nikkei stock average rose 0.2 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Action this session was choppy and trade was both listless and thin, but stocks still put together a broad-based gain in the face of a strong rebound by the dollar.

A stream of good news has the stock market back on an upward path.

Encouraging corporate and economic reports Wednesday added to hopes that a recovery is taking hold even as big concerns remain about unemployment and bursting budgets in countries like Greece.

Deere & Co. and Whole Foods Market Inc. jumped after their profit reports topped expectations and the companies raised their forecasts. Improved reports on home construction and production at factories also helped pull the market higher.

The NYSE DOW closed HIGHER +40.43 points +0.39% on Wednesday February 17
Sym. Last......... ........Change..........
Dow 10,309.24 +40.43 +0.39%
Nasdaq 2,226.29 +12.10 +0.55%
S&P 500 1,099.51 +4.64 +0.42%
30-yr Bond 4.7140% +0.7500

NYSE Volume 4,837,346,000 (prior day 4,763,407,500)
Nasdaq Volume 2,061,092,880 (prior day 2,008,953,880)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,276.64 +32.58 +0.62%
DAX 5,648.34 +56.22 +1.01%
CAC 40 3,725.21 +56.17 +1.53%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,306.83 +272.58 +2.72%
Hang Seng 20,534.01 +265.32 +1.31%
Straits Times 2,794.06 +35.16 +1.27%

http://finance.yahoo.com/news/Stocks-climb-on-upbeat-apf-1238480470.html?x=0

Stocks climb on upbeat earnings, economic reports

Stocks climb after upbeat earnings from Deere, stronger housing numbers boost recovery hopes

By Tim Paradis, AP Business Writer , On Wednesday February 17, 2010, 4:45 pm
NEW YORK (AP) -- A stream of good news has the stock market back on an upward path.

Encouraging corporate and economic reports Wednesday added to hopes that a recovery is taking hold even as big concerns remain about unemployment and bursting budgets in countries like Greece.

Deere & Co. and Whole Foods Market Inc. jumped after their profit reports topped expectations and the companies raised their forecasts. Improved reports on home construction and production at factories also helped pull the market higher.

The Dow Jones industrial average rose 40 points a day after it jumped 170 following a stronger manufacturing figures. Treasury prices fell as demand for safe havens eased.

Investors could get more insight into the economy Thursday from Wal-Mart Stores Inc. and Goodyear Tire & Rubber Co., which are scheduled to report earnings.

Stocks had fallen in recent weeks on overseas concerns, including Greece's debt crisis and moves by China to keep its economy from growing too fast. The concerns remain but traders have been able to turn attention to the domestic economy.

The Commerce Department said construction of homes and apartments rose to an annual rate of 591,000 in January, better than the 580,000 units forecast by economists polled by Thomson Reuters.

A collapse of the housing market helped push the economy into recession, but recent reports have suggested the market is stabilizing. Applications for building permits, a barometer of future activity, fell 4.9 percent. A drop was expected after two months of big growth.

The Federal Reserve, meanwhile, said production at the nation's factories, mines and utilities rose 0.9 percent last month. It was the seventh straight month of growth and better than the 0.6 percent gain forecast by economists.

Investors also drew reassurance from a brighter assessment of the economy from the Fed. Minutes released from the central bank's last meeting suggest that policymakers remain cautious but that they expect stubborn unemployment rates will begin to fall next year.

Even with two days of gains, concerns remain. Ken Kamen, president of Mercadien Asset Management in Hamilton, N.J., said there is still an underlying sense of unease in the market despite the gains of the past two days.

"From day to day there's no one boogeyman or no one exciting thing," Kamen said. "People age getting neck strain spinning their head from side to side looking at all the different pieces of information."

According to preliminary calculations, the Dow rose 40.43, or 0.4 percent, to 10,309.24. The Standard & Poor's 500 index rose 4.64, or 0.4 percent, to 1,099.51, while the Nasdaq composite index rose 12.10, or 0.6 percent, to 2,226.29.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.75 percent from 3.66 percent late Tuesday.

The dollar rose against most other major currencies. Gold prices fell.

Crude oil rose 32 cents to $77.33 per barrel on the New York Mercantile Exchange.

Randy Frederick, director of trading and derivatives at Charles Schwab, contends that with the big gains Tuesday the market is back in balance after its slide over the past month. The S&P 500 index fell 9.2 percent from mid-January to the start of last week.

"I wouldn't be surprised to just see some sideways movement here and maybe small increases over the next week or two," he said.

Frederick said the level of the Chicago Board Options Exchange's Volatility Index, which is known as the market's fear gauge, shows a healthy caution in the market after the index got too low in January. An increase in the VIX signals that investors are prepared for swings in the market. The VIX stands at 21.8 compared with 17.6 in early January.

In corporate news, Deere reported stronger fiscal first-quarter earnings than expected and raised its full-year earnings forecast. Shares of the heavy equipment maker rose $2.70, or 5 percent, to $56.48.

Whole Foods rose $3.83, or 13 percent, to $34.35 after the grocer posted a 79 percent gain in its first-quarter earnings and it boosted its forecast for the year.

Walgreen Co. said it will purchase New York-area drugstore operator Duane Reade for about $623 million in cash. Including $457 million in debt held by Duane Reade, the entire transaction is valued at $1.08 billion. Shares of Walgreen rose 11 cents to $34.19.

The jump in stocks Tuesday came after better-than-expected earnings from companies like Barclays PLC, Merck & Co. and Abercrombie & Fitch provided reassurances that the economy is improving. Simon Property Group's takeover bid of rival mall operator General Growth Properties also indicated companies are becoming more confident.

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

The Russell 2000 index of smaller companies rose 3.99, or 0.6 percent, to 624.83.

Britain's FTSE 100 rose 0.6 percent, Germany's DAX index rose 1 percent, and France's CAC-40 jumped 1.5 percent. Japan's Nikkei stock average rose 2.7 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Broad-based buying helped both the Dow and the Nasdaq Composite close above their 50-day moving averages for the first time in almost one month, but the S&P 500 was met with resistance as it encountered the technical hurdle. Nonetheless, stocks still booked their third straight gain.

Stocks chopped along in a tight trading range for the first part of the session as participants tried to take their cues from fluctuations in the dollar. Relative to a basket of foreign currencies, the greenback oscillated between a gain of 0.4% and a loss of 0.2% before it settled with a fractional loss.

An increase in regional manufacturing pushed the stock market to its third straight advance and offset concerns about lower sales at Wal-Mart.

The Dow Jones industrial average rose 84 points, bringing its gains for the week to nearly 300 points.

Treasury prices fell as improvements in some economic reports eased demand for safe havens.

The NYSE DOW closed HIGHER +83.66 points +0.81% on Thursday February 18
Sym. Last......... ........Change..........
Dow 10,392.90 +83.66 +0.81%
Nasdaq 2,241.71 +15.42 +0.69%
S&P 500 1,106.75 +7.24 +0.66%
30-yr Bond 4.7520% +0.3800

NYSE Volume 4,480,362,500 (prior day 4,837,346,000)
Nasdaq Volume 2,049,014,120 (prior day 2,061,092,880)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,325.09 +48.45 +0.92%
DAX 5,680.41 +32.07 +0.57%
CAC 40 3,747.83 +22.62 +0.61%


Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,335.69 +28.86 +0.28%
Hang Seng 20,422.15 -111.86 -0.54%
Straits Times 2,769.19 -24.87 -0.89%

http://finance.yahoo.com/news/Stronger-manufacturing-report-apf-3803927760.html?x=0

Stronger manufacturing report lifts stock market

Stocks extend climb on stronger manufacturing report; Traders look past weakness at Wal-Mart

By Stephen Bernard and Tim Paradis, AP Business Writers , On Thursday February 18, 2010, 4:39 pm

NEW YORK (AP) -- An increase in regional manufacturing pushed the stock market to its third straight advance and offset concerns about lower sales at Wal-Mart.

The Dow Jones industrial average rose 84 points, bringing its gains for the week to nearly 300 points.

Treasury prices fell as improvements in some economic reports eased demand for safe havens.

The Philadelphia Federal Reserve said its index of regional manufacturing rose to 17.6 in February from 15.2 in January. That follows reports the past two days that also pointed to a pickup in business at the nation's factories.

The report lifted stocks of companies that process raw materials because increased manufacturing should boost sales. Newmont Mining Corp. and glass maker Owens-Illinois Inc. each rose more than 2 percent.

The market drifted higher in light trading volume so analysts cautioned against reading too much in to the latest gain. Light volume indicates that many investors with concerns about the market are staying on the sidelines.

The market's gains were modest in the early hours of trading after Wal-Mart Stores Inc.'s reported a drop in quarterly sales at its flagship U.S. stores and issued a disappointing forecast.

At the same time, the Labor Department reported that the number of workers seeking unemployment benefits for the first time rose 31,000 to 473,000 last week. Economists polled by Thomson Reuters forecast claims would fall. Unemployment is a major obstacle to a sustained recovery.

Investors have been buying stocks this week on growing evidence of improvement in the U.S. economy. They have stopped worrying, at least for now, about potential overseas troubles derailing a global recovery. Investors have been concerned that debt problems in Greece and other European countries could spread. China's move to tighten lending standards and slow its growth to avoid speculative bubbles has also worried investors.

Eric Mintz, assistant portfolio manager of the Eagle Mid Cap Growth Fund in St. Petersburg, Fla., said traders were able to look past the latest jobs report because heavy snow in parts of the country has skewed some of the numbers to make unemployment look worse. He said the bulk of economic reports still signal the economy is improving.

"We're in the early phases of the recovery and you are going to get spotty data," he said.

According to preliminary calculations, the Dow rose 83.66, or 0.8 percent, to 10,392.90, putting its gain for the week at 294 points. The broader Standard & Poor's 500 index rose 7.24, or 0.7 percent, to 1,106.75, and the Nasdaq composite index rose 15.42, or 0.7 percent, to 2,241.71.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.80 percent from 3.74 percent compared late Wednesday.

The dollar mostly rose against other major currencies.

Gold rose, while crude oil rose $1.73 to $79.05 per barrel on the New York Mercantile Exchange.

Earnings reports were mixed. Wal-Mart reported a fourth-quarter profit that topped analysts' expectations. But sales at stores open at least a year fell. The company predicted sales at stores open a year will be down as much as 1 percent or up as much as 1 percent for its U.S. namesake stores this year. The stock fell 59 cents, or 1.1 percent, to $53.47.

Hewlett-Packard Co. reported a better-than-expected fiscal first quarter after the market closed Wednesday. The computer and technology company, which like Wal-Mart is a component of the Dow, also forecast full-year revenue and profit that exceeds analysts' expectations. Its shares rose 69 cents, or 1.4 percent, to $50.81.

Newmont Mining rose $1.17, or 2.5 percent, to $48.41, while Owens-Illinois rose 66 cents, or 2.4 percent, to $27.81.

More than two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 960.4 million shares compared with 1 billion Wednesday.

The Russell 2000 index of smaller companies rose 4.49, or 0.7 percent, to 629.32.

Britain's FTSE 100 rose 0.9 percent, Germany's DAX index and France's CAC-40 each rose 0.6 percent. Japan's Nikkei stock average rose 0.3 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 303.21 points, or 3 percent, at 10,402.35. The Standard & Poor's 500 index rose 33.66, or 3.1 percent, to 1,109.17. The Nasdaq composite index rose 60.34, or 2.8 percent, to 2,243.87.

The Fed's decision to hike the discount rate after the prior session's close stirred market participants to dump stocks in pursuit of the dollar, but the dollar inevitably drifted lower and stocks managed to recover and finish the week with their fourth straight gain.

Given that the Fed's decision to lift the discount rate to 0.75% from 0.50% marked the first rate hike in one year, participants panicked a bit and made a knee-jerk decision to sell stocks. The announcement shouldn't have come as a complete surprise, though. After all, Fed Chairman gave market participants a clue during his recent testimony before the House Financial Services Committee that a modest increase in the spread between the discount rate and the target federal funds rate was expected before long.

The stock market ended a strong week with modest gains after investors found good news in the Federal Reserve's decision to begin dismantling emergency lending measures for banks.

The Dow Jones industrial average rose for a fourth day Friday, edging up 9 points to record its best week in more than three months.

Stocks initially fell in response to the Fed's announcement late Thursday that it is raising the rate it charges banks for emergency loans, known as the discount rate. Stocks turned higher in late morning trading as investors saw the Fed's move as a vote of confidence that the financial system was recovering and that banks didn't need as much support.

The NYSE DOW closed HIGHER +23.47 points +0.67% on Friday February 19
Sym. Last......... ........Change..........
Dow Jones 3,516.98 +23.47 +0.67%
Nasdaq 2,243.87 +2.16 +0.10%
S&P 500 1,109.17 +2.42 +0.22%
30-Yr Bond 4.7020% -0.5000

NYSE Volume 4,635,190,500 (prior day 4,480,362,500)
Nasdaq Volume 2,145,884,250 (prior day 2,049,014,120)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,358.17 +33.08 +0.62%
DAX 5,722.05 +41.64 +0.73%
CAC 40 4,012.91 -1.06 -0.03%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,123.58 -212.11 -2.05%
Hang Seng 19,894.02 -528.13 -2.59%


http://finance.yahoo.com/news/Stocks-edge-higher-after-Fed-apf-2101723830.html?x=0

Stocks edge higher after Fed eases bank supports

Stocks end strong week with modest climb as Fed starts to remove emergency measures for banks

By Stephen Bernard and Ieva M. Augstums, AP Business Writers , On Friday February 19, 2010, 6:17 pm EST

NEW YORK (AP) -- The stock market ended a strong week with modest gains after investors found good news in the Federal Reserve's decision to begin dismantling emergency lending measures for banks.

The Dow Jones industrial average rose for a fourth day Friday, edging up 9 points to record its best week in more than three months.

Stocks initially fell in response to the Fed's announcement late Thursday that it is raising the rate it charges banks for emergency loans, known as the discount rate. Stocks turned higher in late morning trading as investors saw the Fed's move as a vote of confidence that the financial system was recovering and that banks didn't need as much support.

A tame report on consumer prices brought reassurance that the Fed would be able to hold down more important rates for consumers and business loans.

"The Fed certainly isn't exiting the easy money policy door yet," said Burt White, chief investment officer at LPL Financial. "They have their coats and boots on."

The central bank didn't change its more widely used federal funds rate, which is a benchmark for short-term interest rates.

Jay Leupp, president of Grubb & Ellis AGA mutual funds, said it wasinevitablethat the Fed would raise the discount rate. However the timing and size of future rate hikes for both the discount rate and the federal funds rate are still quite uncertain, he said.

"It's a warning sign, but don't expect more to happen soon," Leupp said.

The focus on rates comes as investors grow more encouraged about the U.S. economy after weeks of concerns about conditions overseas. Debt problems in Greece and other European nations as well as China's move to curb its economic growth brought worries that a global rebound would falter.

After being closed for President's Day on Monday, the Dow jumped 170 points on Tuesday as concern about Greece eased and companies including Kraft Foods Inc. and apparel retailer Abercrombie & Fitch Co. posted earnings that topped expectations. Reports on housing construction and activity at factories pushed stocks higher as the week continued.

On Friday, the Dow rose 9.45, or 0.1 percent, to 10,402.35, its highest finish in a month. The Dow is now down only 0.25 percent for the year.

The broader Standard & Poor's 500 index rose 2.42, or 0.2 percent, to 1,109.17, while the Nasdaq composite index rose 2.16, or 0.1 percent, to 2,243.87.

For the week, the Dow rose 303 points, or 3 percent. It was the second straight weekly gain and the strongest point and percentage increase since the week ended Nov. 6.

The S&P 500 index rose 3.1 percent, while the Nasdaq gained 2.8 percent.

Bond prices rose, pushing yields lower, after a benign report on inflation. Rising prices cut into returns of fixed-income investments. The yield on the benchmark 10-year Treasury note fell 3.78 percent from 3.81 percent late Thursday.

The dollar mostly rose against other major currencies. Gold and oil both rose.

On Friday, the markets slowed in late morning as traders watched golfer Tiger Woods' televised remarks about his recent affairs. Volume on the New York Stock Exchange leveled off during Woods' remarks, then picked up momentum after he was finished.

Stock in Nike Inc., one of Woods' biggest sponsors, was down about 19 cents as he spoke, then regained some ground. It ended down 9 cents at $64.35.

In economic news, the Labor Department said the Consumer Price Index rose by a smaller-than-expected 0.2 percent in January. Excluding food and energy, the index actually slipped 0.1 percent, its first monthly drop in 27 years.

"This allows the Fed to keep rates lower for longer," said Frank Ingarra, co-portfolio manager at Hennessy Funds, referring to the CPI report.

A report from the Mortgage Bankers Association provided mixed news about the housing market, which has shown recent signs of stabilizing. The group said the number of borrowers falling behind on their mortgage payments for the first time dropped sharply during the fourth quarter. However a record number of people remain behind on payments or in foreclosure.

Three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 4 billion shares, in line with Thursday.

The Russell 2000 index of smaller companies rose 2.30, or 0.4 percent, to 631.62.

Overseas, Britain's FTSE 100 rose 0.6 percent, Germany's DAX index gained 0.7 percent, while France's CAC-40 rose 0.6 percent. Japan's Nikkei stock average fell 2.1 percent.

The Dow Jones industrial average closed the week up 303.21 points, or 3 percent, at 10,402.35. The Standard & Poor's 500 index rose 33.66, or 3.1 percent, to 1,109.17. The Nasdaq composite index rose 60.34, or 2.8 percent, to 2,243.87.

The Russell 2000 index, which tracks the performance of small company stocks, rose 20.90, or 3.4 percent, for the week to 631.62.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,391.35, up 347.85, or 3.2 percent.

3667

 

[bigdog]

Source: http://finance.yahoo.com

Stocks rolled over in the final few minutes of trade to log their first loss in five sessions. The downturn came after the stock market failed to extend a move that took it from a modest loss back to its opening high.

Financials were integral in the afternoon advance. The sector was a steady outperformer for the entire session and finished with a 1.1% loss, despite a lack of clear catalysts within the sector. While the broader market inevitably failed to follow the financial sector to a gain, its strength helped limit losses.

The stock market paused from a four-day rally Monday and closed modestly lower after big consumer companies gave a cautious outlook for economic growth.

The market, which has advanced on stronger economic signs, fluctuated after Lowe's Cos. and Campbell Soup Co. reported higher earnings but reminded investors that a recovery among consumers is expected to be slow. Stocks drew some support from news that oil field services company Schlumberger Ltd. agreed to buy Smith International Inc.

"Corporate America is being cautious with their earnings predictions," said Roy Williams, CEO at Prestige Wealth Management Group. A recovery in consumer spending hasn't happened as fast as executives have hoped, he said.

The NYSE DOW closed LOWER -18.97 points -0.18% on Monday February 22
Sym. Last......... ........Change..........
Dow 10,383.38 -18.97 -0.18%
Nasdaq 2,242.03 -1.84 -0.08%
S&P 500 1,108.01 -1.16 -0.10%
30-yr Bond 4.7310% +0.2900

NYSE Volume 4,357,647,500 (prior day 4,635,190,500)
Nasdaq Volume 1,940,405,620 (prior day 2,145,884,250)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,352.07 -6.10 -0.11%
DAX 5,688.44 -33.61 -0.59%
CAC 40 3,756.70 -12.84 -0.34%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,400.47 +276.89 +2.74%
Hang Seng 20,377.27 +483.25 +2.43%
Straits Times 2,757.46 +0.32 +0.01%

http://finance.yahoo.com/news/Stocks-close-lower-on-caution-apf-3557827730.html?x=0

Stocks close lower on caution about economy

Stocks close lower as investors turn cautious following consumer companies' earnings reports

By Stephen Bernard, AP Business Writer , On Monday February 22, 2010, 5:00 pm
NEW YORK (AP) -- The stock market paused from a four-day rally Monday and closed modestly lower after big consumer companies gave a cautious outlook for economic growth.

The market, which has advanced on stronger economic signs, fluctuated after Lowe's Cos. and Campbell Soup Co. reported higher earnings but reminded investors that a recovery among consumers is expected to be slow. Stocks drew some support from news that oil field services company Schlumberger Ltd. agreed to buy Smith International Inc.

"Corporate America is being cautious with their earnings predictions," said Roy Williams, CEO at Prestige Wealth Management Group. A recovery in consumer spending hasn't happened as fast as executives have hoped, he said.

Trading was also fragmented as investors hunted for deals following last week's big rally. The Dow Jones industrial average posted its best weekly gain since November on strong earnings and economic reports.

"I wouldn't read too much into this," Sam Stovall, chief investment strategist at Standard & Poor's, said of Monday's trading. "There could be some minor profit-taking."

The Dow fell 18.97, or 0.2 percent, to 10,383.38. The Standard & Poor's 500 index fell 1.16, or 0.1 percent, to 1,108.01, while the Nasdaq composite index fell 1.84, or 0.1 percent, to 2,242.03.

Rising stocks were about even with losers on the New York Stock Exchange, where volume came to a light 944 million shares.

Lowe's said Monday its fourth-quarter profit rose 27 percent as it cut costs and saw a slight increase in sales. The home improvement retailer's results beat analyst projections and Lowe's said it anticipates sales to grow as the housing market recovers. However, its first-quarter earnings forecast was below expectations.

Campbell Soup's fiscal second-quarter profit met forecasts as lower costs helped offset a slowdown in U.S. sales.

"Right now, they're trying to heal," Steven Goldman, chief market strategist at Weeden & Co., said of consumers.

Consumers are holding off on big purchases like home renovations because employment is still a concern, Goldman said. That hurts companies like Lowe's that rely on big spending from U.S. customers. But they're also being choosy when it comes to staples including food. Campbell's report reflected that caution.

Lowe's fell 6 cents to $23.07. Campbell Soup dipped 43 cents to $33.50.

The National Association for Business Economics echoed a similar tone that the economy is getting better, but at a sluggish pace. It reaffirmed in its latest outlook that an economic recovery remains on track, though it will be slow. The group of economists expects to see job growth later this quarter, but unemployment is expected to stay above 9 percent throughout the year.

High unemployment -- the rate currently stands at 9.7 percent -- remains a major obstacle for a strong, sustained recovery. It has also dragged down consumer spending and confidence, which hurts companies like Lowe's and Campbell Soup.

Other major retailers, including Macy's Inc., Target Corp., Home Depot Inc. and Gap Inc., release quarterly results this week. The reports should provide further clues about whether consumers are more confident in the recovery.

Schlumberger is buying Smith International for $11 billion in stock in a move to diversify its product offerings and better compete with rival Halliburton Co. Investors viewed the deal as a sign that demand is likely to grow for fuel as the global economy recovers.

Energy and material companies were mixed on the day following the deal. Falling commodity prices dragged down the sector.

Schlumberger shares fell $2.33, or 3.7 percent, to $61.57. Smith International rose $3.33, or 8.8 percent, to $41.03.

Healthcare shares were also mixed after President Barack Obama renewed his push for insurance reform and a Senate report said drug maker GlaxoSmithKline has known about possible heart attack risks tied to its diabetes medication Avandia.

GlaxoSmithKline shares fell 94 cents, or 2.5 percent, to $37.32.

Meanwhile, bond prices also traded in a tight range. Long-term bonds fell slightly, while short-term rates increased -- a sign that investors might expect the Federal Reserve to raise its benchmark rates in the coming months.

Fed chairman Ben Bernanke is scheduled to give his semiannual report on the economy and interest rates to Congress later this week. Last week the Fed started to remove its extraordinary stimulus measures put in place during the recession. It increased the rate it charges banks for emergency loans.

The yield on the 10-year Treasury note rose to 3.80 percent, from 3.78 percent late Friday.

The Russell 2000 index of smaller companies rose 0.63, or 0.1 percent, to 632.25.

Overseas, Japan's Nikkei stock average rose 2.7 percent. Britain's FTSE 100 fell 0.1 percent, Germany's DAX index fell 0.6 percent, and France's CAC-40 fell 0.3 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks closed near session lows in their worst single-session percentage loss in more than two weeks as sellers were stirred to action by a disappointing consumer confidence reading and a stronger dollar.

A relatively weak start quickly turned to something more ugly with the midmorning release of the February Consumer Confidence Index, which came in below expectations at a 10-month low of 46.0. Broad-based pressure immediately followed to take each of the three major indices back below its 50-day moving average after the technical line acted as a supportive floor in the previous session.

Losses among stocks worsened as the greenback gained ground against competing currencies. The dollar settled the session 0.5% higher after it extended a moderate gain from the early going.


The stock market fell sharply Tuesday after a surprising drop in consumer confidence reminded investors of the fragility of the economic recovery.

The Dow Jones industrials fell 100 points. Interest rates also fell in the bond market as investors moved money out of stocks and into the safety of Treasurys.

The Conference Board said its consumer confidence index fell to 46 in February from 56.5 last month. That was well below the forecast of economists polled by Thomson Reuters. They expected a reading of 55.

The NYSE DOW closed LOWER -100.97 points -0.97% on Tuesday February 23
Sym. Last......... ........Change..........
Dow 10,282.41 -100.97 -0.97%
Nasdaq 2,213.44 -28.59 -1.28%
S&P 500 1,094.60 -13.41 -1.21%
30-yr Bond 4.6320% -0.9900

NYSE Volume 5,183,887,000 (prior day 4,357,647,500)
Nasdaq Volume 2,265,145,500 (prior day 1,940,405,620)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,315.09 -36.98 -0.69%
DAX 5,604.07 -84.37 -1.48%
CAC 40 3,707.06 -49.64 -1.32%


Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,352.10 -48.37 -0.47%
Hang Seng 20,623.00 +245.73 +1.21%
Straits Times 2,782.55 +25.09 +0.91%

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

Stocks retreat after disappointing consumer report

Stocks pull back after worse-than-expected consumer confidence report; Dow falls 100

By Stephen Bernard, AP Business Writer , On Tuesday February 23, 2010, 4:45 pm
NEW YORK (AP) -- The stock market fell sharply Tuesday after a surprising drop in consumer confidence reminded investors of the fragility of the economic recovery.

The Dow Jones industrials fell 100 points. Interest rates also fell in the bond market as investors moved money out of stocks and into the safety of Treasurys.

The Conference Board said its consumer confidence index fell to 46 in February from 56.5 last month. That was well below the forecast of economists polled by Thomson Reuters. They expected a reading of 55.

Not only did the index fall sharply, it is far from indicating strength in the economy. A reading above 90 means the economy is on solid footing. Consumers are vital to a strong, sustained economic recovery because their spending accounts for more than two-thirds of all economic activity.

The confidence numbers came as investors were already rethinking the more optimistic assessment they had of the economy last week. Stocks had rallied for four straight days on upbeat earnings news, including some from retailers, and on improving housing and manufacturing numbers.

That rally has ended this week in response to a growing pile of disappointing consumer news, including retail earnings reports. While Home Depot Inc., Sears Holdings Corp., Macy's Inc. and Target Corp. all reported better-than-expected earnings Tuesday, the companies indicated that sales growth is lagging. That's a sign that consumers are still too hesitant about the economy and their own job security to spend freely.

"Consumers are still just very confused," said J. Garrett Stevens, CEO of FaithShares, which manages exchange-traded funds. Economic reports remain mixed, which is typical for this point in a recovery and add to uncertainty among investors, he said.

"Until we get more consistently positive trends, it's like to be choppy like this," Stevens said.

The Dow fell 100.97, or 1 percent, to 10,292.41 after being up around 19 before the consumer confidence index was released. The Standard & Poor's 500 index dropped 13.41, or 1.2 percent, to 1,094.60, while the Nasdaq composite index fell 28.59, or 1.3 percent, to 2,213.44.

About two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1.08 billion shares.

Stocks have been volatile during the first two months of the year, alternating between multi-week stretches of gains and losses. Stocks rallied the past two weeks on signs of domestic growth after a nearly monthlong drop because of worries that European debt problems would upend a global economic recovery.

The Chicago Board Options Exchange's Volatility Index, which is known as the market's fear gauge, shot up 7.2 percent Tuesday. An increase in the VIX signals that investors are prepared for swings in the market.

Meanwhile, interest rates fell in the bond market as Treasury prices rose. Investors were betting that a weak recovery will force the Federal Reserve to keep interest rates low. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.69 percent from 3.80 percent late Monday.

Investors will get further insight into potential interest rate changes when Fed chairman Ben Bernanke testifies before Congress on Wednesday and Thursday.

A modest increase in sales and cost-cutting helped Home Depot's profit top expectations. The home improvement retailer also raised its dividend and outlook, evidence it is confident about the strength of an eventual recovery. Competitor Lowe's Corp. on Monday also raised its outlook, but had a cautious tone about growth.

Like Home Depot, Sears Holdings said falling expenses and a slight boost in sales helped its profit surpass forecasts. Macy's and Target also reported upbeat quarterly earnings.

A report on home prices showed that the housing market continues its slow recovery. The Standard & Poor's/Case-Shiller 20-city home price index rose 0.3 percent from November to December.

Home prices' rate of decline from a year earlier also improved. That measure fell 3.1 percent. Economists had forecast a year-over-year drop of 3.2 percent, compared with a decline of 5.3 percent in November.

"Case-Shiller shows some of this continuing bottoming effect in housing prices," said Michael Strauss, chief economist at Commonfund. "It shows the weakest link in the economy is no longer a drag on the economy."

Overseas markets mostly fell after disappointing economic reports from Germany showed that Europe's largest economy has been hurt by the mounting debt problems in countries like Greece.

Germany's DAX index fell 1.5 percent and France's CAC-40 dropped 1.3 percent. Britain's FTSE 100 fell 0.7 percent. Japan's Nikkei stock average fell 0.5 percent.

The dollar was mixed against other major currencies. It rose against the euro and fell against the British pound. Gold and oil both fell, joining other commodities as investors shied away from investments seen as risky.

The Russell 2000 index of smaller companies fell 7.18, or 1.1 percent, to 625.07.

 

[bigdog]

Source: http://finance.yahoo.com

Despite an early slip, both stocks and commodities were able to rebound from their losses in the prior session.

Coming off of its worst single-session percentage drop in more than two weeks, the stock market bounced back in a strong move that finished with stocks near their session highs. The gains didn't come easy, though; stocks were pressured in the early going by disappointing new home sales for January and a negative knee-jerk response to prepared remarks from Fed Chairman Bernanke.

Federal Reserve Chairman Ben Bernanke gave the stock market the tonic it wanted: Interest rates will stay low.

Stocks rallied Wednesday and ended a two-day slide after Bernanke sounded an upbeat note about the economy during his semiannual report to Congress. He told the House Financial Services Committee he still expects rates will remain low for an extended period. Investors want to see low-cost borrowing continue to help revive the economy.

Financial stocks helped pull the Dow Jones industrial average up 92 points after the index slid 101 on Tuesday. JPMorgan Chase & Co. and Bank of America Corp. each rose more than 2 percent. Meanwhile, the technology-dominated Nasdaq composite index rose after software company Autodesk Inc. reported stronger earnings and revenue than expected.

The NYSE DOW closed HIGHER +91.75 points +0.89% on Wednesday February 24
Sym. Last......... ........Change..........
Dow 10,374.16 +91.75 +0.89%
Nasdaq 2,235.90 +22.46 +1.01%
S&P 500 1,105.24 +10.64 +0.97%
30-yr Bond 4.6340% +0.0200

NYSE Volume 4,734,938,000 (prior day 5,183,887,000)
Nasdaq Volume 2,115,858,750 (prior day 2,265,145,500)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,342.92 +27.83 +0.52%
DAX 5,615.51 +11.44 +0.20%
CAC 40 3,715.68 +8.62 +0.23%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,198.83 -153.27 -1.48%
Hang Seng 20,467.74 -155.26 -0.75%
Straits Times 2,762.14 -20.41 -0.73%

Stocks rebound as Bernanke sees rates staying low

Stocks rebound from slide as Bernanke tells Congress interest rates are likely to remain low

By Tim Paradis and Ieva M. Augstums, AP Business Writers , On Wednesday February 24, 2010, 4:24 pm

NEW YORK (AP) -- Federal Reserve Chairman Ben Bernanke gave the stock market the tonic it wanted: Interest rates will stay low.

Stocks rallied Wednesday and ended a two-day slide after Bernanke sounded an upbeat note about the economy during his semiannual report to Congress. He told the House Financial Services Committee he still expects rates will remain low for an extended period. Investors want to see low-cost borrowing continue to help revive the economy.

Financial stocks helped pull the Dow Jones industrial average up 92 points after the index slid 101 on Tuesday. JPMorgan Chase & Co. and Bank of America Corp. each rose more than 2 percent. Meanwhile, the technology-dominated Nasdaq composite index rose after software company Autodesk Inc. reported stronger earnings and revenue than expected.

At the same time, a disappointing report on new home sales brought the latest reminder that a recovery in the economy will be difficult even with government aid.

The Commerce Department said sales of new homes fell to a record low in January. Economists expected an increase. The government said that new home sales fell 11.2 percent last month to a seasonally adjusted annual sales rate of 309,000 units. That's the lowest level on a record that goes back nearly 50 years. It was the third straight monthly drop.

Housing has been a big concern for investors who this week have been worrying about consumer spending. A surprising drop in consumer confidence reminded investors of the fragility of the economic recovery and sent stocks sliding on Tuesday. The market also posted modest losses on Monday.

For more than a year, investors have been looking to answer the question of how soon the economy will be in a sustained recovery. Bernanke's testimony brought calm to the market but another batch of worrisome economic numbers would likely send investors running again. That has been their pattern for months.

Jim McDonald, chief investment strategist at Northern Trust in Chicago, said Bernanke's testimony signaled that interest rates will remain low for the next six months. He said that should allow the economy to proceed with a gradual recovery.

"Even though nothing he said was particularly new, it was just enough to calm the ruffled feathers that were out there," McDonald said.

According to preliminary calculations, the Dow rose 91.75, or 0.9 percent, to 10,374.16. The advance pared the Dow's loss for the week to 28 points.

The broader Standard & Poor's 500 index rose 10.64 or 1 percent, to 1,105.24, and the Nasdaq composite index rose 22.46, or 1 percent, to 2,235.90.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note was unchanged at 3.69 percent from late Tuesday.

The dollar fell against other major currencies following Bernanke's remarks because low interest rates make the currency a less attractive investment. The drop in the dollar lifted prices of commodities, which become cheaper for foreign buyers when the dollar falls. The gain in commodity prices, in turn, lifted energy stocks.

Crude oil rose $1.14 to $80 per barrel on the New York Mercantile Exchange. Gold prices fell.

Investors keep watch over interest rates because low-cost cash has

 

[bigdog]

Source: http://finance.yahoo.com

The S&P 500 gapped down in the early going and traded with a 1.7% loss at its session low, but a downturn by the dollar caused stocks to rally into the afternoon. The major indices were able to reverse nearly all of their losses and finish near session highs.

Stocks looked like they were headed for a dismal session as all 10 of the major sectors in the S&P 500 dropped to losses in excess of 1% in the early going. Pessimism among participants was rooted in a disappointing batch of economic data and moderate strength in the dollar.

Stocks fell Thursday but closed well off their lows as investors set aside some of their concerns about Greece's rising debt.

The recovery came as the dollar pulled back from an early spike. The dollar is seen as a safe investment. So its retreat signals that by the end of the day, investors had lost some of their fears about Greece's debt problems hurting other countries.

The Dow Jones industrial average closed down 53 points after having fallen 188. Treasury prices, like the dollar, rose as investors sought safety.

The NYSE DOW closed LOWER -53.13 points -0.51% on Thursday February 25
Sym. Last......... ........Change..........
Dow 10,321.03 -53.13 -0.51%
Nasdaq 2,234.22 -1.68 -0.08%
S&P 500 1,102.93 -2.31 -0.21%
30-yr Bond 4.5820% -0.5200

NYSE Volume 5,247,215,500 (prior day 4,734,938,000)
Nasdaq Volume 2,268,387,250 (prior day 2,115,858,750)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,278.23 -64.69 -1.21%
DAX 5,532.33 -83.18 -1.48%
CAC 40 3,640.77 -74.91 -2.02%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,101.96 -96.87 -0.95%
Hang Seng 20,399.57 -68.17 -0.33%
Straits Times 2,749.15 -12.99 -0.47%

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

Stocks fall on renewed concerns about economy

Market drops on concerns that weak US job market, Greece debt woes will stall economic rebound

By Tim Paradis and Stephen Bernard, AP Business Writers , On Thursday February 25, 2010, 5:06 pm

NEW YORK (AP) -- Stocks fell Thursday but closed well off their lows as investors set aside some of their concerns about Greece's rising debt.

The recovery came as the dollar pulled back from an early spike. The dollar is seen as a safe investment. So its retreat signals that by the end of the day, investors had lost some of their fears about Greece's debt problems hurting other countries.

The Dow Jones industrial average closed down 53 points after having fallen 188. Treasury prices, like the dollar, rose as investors sought safety.

The early slide came as the possibility of downgrades of Greece's debt fanned worries that financial troubles there will spread to other countries. The euro fell and touched a nine-month low against the dollar. Stocks often get hit when the dollar jumps because commodity prices often fall. A drop in commodity prices hurts energy and materials stocks.

Concerns about Greece have dogged investors this year but grew after credit rating agencies Standard & Poor's and Moody's said they might further downgrade the country's debt. That would make it harder for the country to borrow.

An unexpected rise in first-time claims for unemployment insurance added to the sour mood that dominated trading early in the day and raised concerns that the labor market will worsen.

The Labor Department said first-time claims for unemployment insurance rose by 22,000 to a seasonally adjusted 496,000. Economists polled by Thomson Reuters had forecast a drop in claims.

It was the second straight week that claims rose unexpectedly. High unemployment remains one of the biggest obstacles to a sustained economic recovery. The Labor Department's monthly report on employment will be released next week.

Trading in the U.S. has been choppy in recent weeks because of uneasiness about the economy. Global markets retreated earlier this month because traders were worried about Greece's debt problems. The market's drop early in the week, a rebound and the latest slide signal that investors are waiting for clearer information on the direction of the economy.

Justin Golden, a strategist at Macro Risk Advisors in New York, said there is an undercurrent of worry about long-term issues like debt in Greece. The presence of the concerns means it doesn't take much to rattle investors.

"It's a statement of how fragile the markets really are," Golden said.

The Dow fell 53.13, or 0.5 percent, to 10,321.03. The broader Standard & Poor's 500 index slipped 2.30, or 0.2 percent, to 1,102.94. The Nasdaq composite index fell 1.68, or 0.1 percent, to 2,234.22.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.64 percent from 3.70 percent late Wednesday.

Crude oil fell $1.83 to $78.17 per barrel on the New York Mercantile Exchange. Gold rose.

The drop in major stock indexes masks the broad improvement in the market. For much of the day, all 30 stocks that make up the Dow were lower. In the end, five turned higher. Aluminum producer Aloca Inc. was the biggest gainer, rising 25 cents, or 1.9 percent, to $13.31.

The Chicago Board Options Exchange's Volatility Index, which is known as the market's fear gauge, ended down 0.8 percent after jumping 11.9 percent in morning trading. A rise in the VIX signals that investors are expecting swings in the market.

By the closing bell there were slightly more advancing stocks than decliners on the New York Stock Exchange. Earlier five stocks were down for every one that rose.

Jim Maguire Jr., a trader at E.H. Smith Jacobs in New York, said he expects the market to continue in the tight range it has seen this year as investors look for clues about the pace of an economic rebound.

"There is a feeling out there that this is not a self-sustaining economy as of yet and there is this expectation that the stock market is going to falter because of it," he said.

Maguire said questions about how quickly the rebound will occur is keeping traders from placing big bets after a year of enormous gains in stocks. The Dow hit a 12-year low in March last year.

"Ultimately, I think we're looking at a consolidation here and I think it could be a very long haul," he said. "The characteristics of that are typically these types of choppy markets. We get these updrafts and downdrafts."

Stocks broke a two-day losing streak on Wednesday after Federal Reserve Chairman Ben Bernanke said in a semiannual report to Congress that the central bank plans to keep interest rates low to help the economy. There was little reaction to his similar testimony before the Senate on Thursday.

Advancing stocks narrowly outpaced those that fell on the NYSE, where volume came to 1.1 billion shares compared with 1 billion Wednesday.

The Russell 2000 index of smaller companies rose 0.03, or less than 0.1 percent, to 630.46.

Overseas, Britain's FTSE 100 fell 1.2 percent, Germany's DAX index dropped 1.5 percent, and France's CAC-40 fell 2 percent. Japan's Nikkei stock average fell 1 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow fell 0.7 percent for the week but rose 2.6 percent for the month. That's the best run since it jumped 6.5 percent in November.

The broader S&P 500 index fell 0.4 percent for the week and climbed 2.9 percent in February.

The Nasdaq composite index fell 0.3 percent for the week. For February, the gain came to 4.2 percent.

All the whipsaw action earlier this week left participants subdued for most of the week's final session. That left stocks to spend most of the session trading listlessly in a tight range.

Participants were generally unmoved by the revised fourth quarter GDP numbers. The headline growth rate was upwardly revised to reflect 5.9% annualized growth rate, which exceeded expectations, but the personal consumption component increased at a softer-than-expected clip of 1.7%. Core personal consumption expenditures increased at a faster-than-expected quarter-over-quarter clip of 1.6%, though.

The stock market eked out a gain Friday as investors took downbeat economic news in stride.

The modest gains still left stocks with a loss for the week but the Dow Jones industrial average and the Standard & Poor's 500 index logged their best month since November.

The latest bad news came from several corners including the financial industry. Insurer American International Group Inc. reported a larger than expected fourth-quarter loss. The company said its primary insurance business was hurt in part by the economy.

The NYSE DOW closed HIGHER +4.23 points +0.04% on Friday February 26
Sym. Last......... ........Change..........
Dow 10,325.26 +4.23 +0.04%
Nasdaq 2,238.26 +4.04 +0.18%
S&P 500 1,104.49 +1.56 +0.14%
30-yr Bond 4.5290% -0.5300

NYSE Volume 4,770,337,000 (prior day 5,247,215,500)
Nasdaq Volume 2,274,759,500 (prior day 2,268,387,250)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,354.52 +76.30 +1.45%
DAX 5,598.46 +66.13 +1.20%
CAC 40 3,708.80 +68.03 +1.87%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,126.03 +24.07 +0.24%
Hang Seng 20,608.70 +209.13 +1.03%
Straits Times 2,750.86 +1.71 +0.06%

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

Stocks edge higher after mixed economic news

Stocks climb as investors shake off AIG results; GDP is revised higher but home sales fall

By Tim Paradis, AP Business Writer , On Friday February 26, 2010, 5:36 pm

NEW YORK (AP) -- The stock market eked out a gain Friday as investors took downbeat economic news in stride.

The modest gains still left stocks with a loss for the week but the Dow Jones industrial average and the Standard & Poor's 500 index logged their best month since November.

The latest bad news came from several corners including the financial industry. Insurer American International Group Inc. reported a larger than expected fourth-quarter loss. The company said its primary insurance business was hurt in part by the economy.

The National Association of Realtors said sales of previously occupied homes fell 7.2 percent in January. It marks the second straight month of a big drop. Analysts had predicted a gain. The Realtors' report comes two days after the Commerce Department said that new home sales fell last month.

Meanwhile, the Commerce Department reported that the nation's economy grew at a faster pace than initially estimated for the end of 2009. The stronger growth from the third quarter to the fourth quarter was welcome news but analysts say much of the gain is tied to businesses rebuilding inventories. Gross domestic product grew at an annual rate of 5.9 percent, above the 5.7 percent previous estimate. Growth is expected to slow in the coming quarters.

The mixed reports added to investors' confusion about the economy. Analysts are divided over whether a recovery is on track. That has led to swings in the stock market after nearly a year of huge gains. Major stock indexes were strong in February but are down about 1 percent for the year. This week, stocks have fallen, jumped and slid again as worries about the economy intensified and eased.

"We're in a time period where the range of potential outcomes is probably wider than it's been for some time," said Colleen Supran, a portfolio manager at Bingham, Osborn & Scarborough in San Francisco. She pointed to concerns about everything from unemployment and housing to heavy debt loads in Greece and other parts of Europe causing another recession.

"Are we going to have a double dip? Are corporations going to be able to grow earnings? That's sort of the bottom line for stock prices in the long run."

The Dow rose 4.23, or less than 0.1 percent, to 10,325.26. It fell 0.7 percent for the week but rose 2.6 percent for the month. That's the best run since it jumped 6.5 percent in November.

The broader S&P 500 index rose 1.55, or 0.1 percent, to 1,104.49. It fell 0.4 percent for the week and climbed 2.9 percent in February.

The Nasdaq composite index rose 4.04, or 0.2 percent, to 2,238.26. It fell 0.3 percent for the week. For February, the gain came to 4.2 percent.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.62 percent from 3.64 percent late Thursday.

The dollar fell against other major currencies. Gold rose.

Crude oil rose $1.49 to $79.66 per barrel on the New York Mercantile Exchange.

Trading volume was light Friday in part because of a winter storm hitting the Northeast. More than 20 inches fell in New York's Central Park.

Investors were unwilling to make big moves ahead of economic reports next week. Most important, the Labor Department is expected to release its February payrolls report on Friday. Reports are also due on personal income and spending, manufacturing, construction spending and home sales.

Inconsistent reports are a part of economic recoveries but the size of the problems like unemployment and housing have brought concerns that a recovery will stall.

"It's just complicating the ability to forecast with any degree of confidence how this is all going to settle out," said Mark Luschini, chief investment strategist at Janney Montgomery Scott in Philadelphia.

The questions about the economy have been tugging at the market. Stocks fell Monday and Tuesday after Lowe's Cos. and Campbell Soup Co. warned that consumer spending will be slow to recover and after a drop in consumer confidence. The market then barreled higher Wednesday after Federal Reserve Chairman Ben Bernanke reiterated that interest rates would stay low to help the economy. On Thursday, stocks plunged and then recovered most of their losses as concerns shifted about unemployment and Greece.

"It really speaks to the level of angst that's out there," Luschini said, referring to the swings.

The report from AIG brought a reminder of the strains that still exist in the financial system. AIG said it lost $8.87 billion in the fourth quarter of 2009. That's improved from a year earlier but weaker than analysts expected. AIG fell $2.74, or 10 percent, to $24.77.

Private equity firm Thomas H. Lee Partners said it is planning to acquire the parent of Carl's Jr. and Hardee's restaurants. The offer for CKE Restaurants Inc. totals $619 million in cash and $309 million in debt. Analysts like to see takeovers because it is a sign of confidence in the economy. CKE jumped $2.46, or 27.6 percent, to $11.37.

Meanwhile, a fifth straight monthly increase in the Chicago Purchasing Managers Index provided some hope about the strength of manufacturing. The Chicago PMI rose to 62.6 in February from 61.5 in January.

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

The Russell 2000 index of smaller companies fell 1.90, or 0.3 percent, to 628.56.

Overseas, markets rose after improved economic reports in Britain and Japan boosted optimism about a global recovery. The U.K. government revised higher its estimate of the nation's economic growth for the fourth quarter. In Japan, output from factories rose by more than expected in January and February retail sales jumped.

Britain's FTSE 100 rose 1.5 percent, Germany's DAX index gained 1.2 percent, and France's CAC-40 rose 1.9 percent. Japan's Nikkei stock average rose 0.2 percent.

4163

 

[bigdog]

Source: http://finance.yahoo.com

Stocks started March with a strong, broad-based push to fresh one-month highs in the face of a stronger dollar, but equities ran into resistance as the S&P 500 attempted to turn positive for the year.

All three major indices spent the entire session in higher ground with solid gains. The Nasdaq Composite was the strongest of the headline indices, thanks to leadership from large-cap tech. SanDisk (SNDK 32.63, +3.48) was one of the best performers in the Nasdaq after the company's improved outlook during its investor conference this past Friday won it the favor of several Wall Street firms.

Major stock indexes rose to their highest levels in more than a month Monday after corporate buyouts raised hopes about the economy.

The Dow Jones industrial average rose 79 points. The Standard & Poor's 500 index, the basis of many mutual funds, erased its losses for the year. The Nasdaq composite index also turned positive for 2010 after a Japanese drugmaker said it was pursuing OSI Pharmaceuticals Inc. and SanDisk Corp. raised its revenue forecast.

The biggest boost for the market came from insurer American International Group Inc., which agreed to sell its prized Asian life insurance business to Britain's Prudential PLC for $35.5 billion. It is seen as a sign of confidence in the economy when big businesses go ahead with takeovers.

The NYSE DOW closed HIGHER +78.53 points +0.76% on Monday March 1
Sym. Last......... ........Change..........
Dow 10,403.79 +78.53 +0.76%
Nasdaq 2,273.57 +35.31 +1.58%
S&P 500 1,115.71 +11.22 +1.02%
30-yr Bond 4.5570% +0.2800

NYSE Volume 4,388,253,500 (prior day 4,770,337,000)
Nasdaq Volume 2,453,020,250 (prior day 2,274,759,500)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,405.94 +51.42 +0.96%
DAX 5,713.51 +115.05 +2.06%
CAC 40 3,753.06 +44.26 +1.19%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,172.06 +46.03 +0.45%
Hang Seng 21,056.93 +448.23 +2.17%
Straits Times 2,774.06 +23.20 +0.84%

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

Buyouts lift stocks to highest level since Jan.

Stocks climb after AIG agrees to sell key business; S&P 500 index turns positive for 2010

By Stephen Bernard and Tim Paradis, AP Business Writers , On Monday March 1, 2010, 5:12 pm

NEW YORK (AP) -- Major stock indexes rose to their highest levels in more than a month Monday after corporate buyouts raised hopes about the economy.

The Dow Jones industrial average rose 79 points. The Standard & Poor's 500 index, the basis of many mutual funds, erased its losses for the year. The Nasdaq composite index also turned positive for 2010 after a Japanese drugmaker said it was pursuing OSI Pharmaceuticals Inc. and SanDisk Corp. raised its revenue forecast.

The biggest boost for the market came from insurer American International Group Inc., which agreed to sell its prized Asian life insurance business to Britain's Prudential PLC for $35.5 billion. It is seen as a sign of confidence in the economy when big businesses go ahead with takeovers.

AIG wants to sell the division, known as AIA Group, as part of its plan to streamline operations and repay the government. AIG received $182.5 billion from the U.S. government in September 2008. It had reduced that amount to $129.26 billion by end of last year but is still majority-owned by taxpayers.

Stocks also rose on hope that European nations will announce a bailout deal to help Greece with its mounting debt problems. Stocks around the world have been hit at times in recent months because of concerns debt problems in Greece would spread to other countries and undermine Europe's shared currency, the euro.

European Union and Greek officials are meeting and media reports said a deal could be hammered out soon that would involve state-owned banks in Europe buying Greek government bonds.

The corporate takeovers and the possibility of some fix for Greece's problems bolstered a sense that the economy could continue to rebound. Major stock market indexes rose more than 2 percent in February for their best performance since November. Stocks have jumped in the past 12 months but investors have still been concerned that a rebound in the economy will stall.

Trading volume was light Monday, which is a sign that many investors aren't taking part in the buying.

Dave Hinnenkamp, chief executive KDV Wealth Management in Minneapolis, said the deals signal that companies are becoming more confident in the economic recovery and willing to spend some of their cash.

"They are at a point now where they can see that the light at the end of the tunnel isn't a train," Hinnenkamp said.

The Dow rose 78.53, or 0.8 percent, to 10,403.79, its highest close since Jan. 20. The Dow is down 24 points for the year, though still down 322 points from a 15-month high on Jan. 19.

The broader S&P 500 index rose 11.22, or 1 percent, to 1,115.71, its best level since Jan. 21. It is now up 0.1 percent for 2010. The Nasdaq rose 35.31, or 1.6 percent, to 2,273.57. It is up 0.2 percent for the year.

The Russell 2000 index of smaller companies rose 14.09, or 2.2 percent, to 642.65.

Bond prices mostly rose, pushing down yields. The yield on the benchmark 10-year Treasury note fell to 3.61 percent from 3.62 percent late Friday.

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

Crude oil fell 96 cents to settle at $78.70 per barrel on the New York Mercantile Exchange.

In stocks, AIG rose $1.01, or 4.1 percent, to $25.78. AIG reported disappointing fourth-quarter results Friday, which tempered gains in the market on the final day of trading for February.

OSI Pharmaceuticals jumped $19.23, or 51.9 percent, to $56.25. Astellas Pharma Inc. said it would take a $3.5 billion takeover bid to OSI shareholders after management rejected the offer.

SanDisk increased its first-quarter revenue forecast. Shares of the maker of flash memory cards, which are used in electronics like cameras, rose $3.48, or 11.9 percent, to $32.63.

Millipore Corp. jumped $10.49, or 11.1 percent, to $104.90 after Germany's Merck KGaA said it would pay $6 billion to acquire the maker of biotechnology equipment.

MSCI Inc. struck a deal to acquire RiskMetrics Group Inc. for about $1.55 billion in cash and stock. The companies sell services to financial companies. MSCI fell $1.39, or 4.6 percent, to $28.59, while RiskMetrics rose $2.46, or 13.2 percent, to $21.09.

Manny Weintraub, president of Integre Advisors in New York, said investors are still trying to determine what an economic recovery will look like. In past downturns, the rebound is often more swift than investors expect. But economic reports in the past two months have signaled a more tepid rebound.

Still, Weintraub sees the buyouts as a good sign that solid companies can obtain financing a year after stocks tumbled to 12-year lows.

"It's definitely a show of confidence," he said.

The Commerce Department said personal spending rose 0.5 percent in January. Economists had forecast an increase of 0.4 percent. Investors saw the gain in spending as a welcome sign for the economy. However, personal income edged up 0.1 percent, below the 0.4 percent forecast by economists. It was the slowest growth in income in fourth months and could eventually hurt spending.

The spending figures lifted retailers. Macy's Inc. rose 63 cents, or 3.3 percent, $19.78, while Tiffany & Co. rose $1.20, or 2.7 percent, to $45.59. Home Depot Inc. rose to its highest level in a year during trading. The stock finished up 23 cents, or 0.7 percent, to $31.43.

Four stocks rose for every one that fell on the New York Stock Exchange, where volume came to a light 966.6 million shares compared with 1.2 billion Friday.

Britain's FTSE 100 gained 1 percent, Germany's DAX index jumped 2.1 percent, and France's CAC-40 climbed 1.6 percent. Japan's Nikkei stock average rose 0.5 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks finished in weak fashion as solid, broad-based gains faded into the close and the major indices settled near session lows. However, the stock market still managed to eke out a slight gain, which puts it in positive territory for the year.

The mood among participants this session had generally been upbeat since the opening bell. The positive tone helped stocks extend the prior session's advance, such that the major indices hit new one-month highs.

The stock market had its third straight winning day on signs that companies are becoming more optimistic about the economy.

The Dow Jones industrial average edged up 2 points Tuesday but closed off its best levels. The Dow had managed to erase its losses for the year during trading but was down 22 points for 2010 by the close. Broader indexes pushed into the black for the year on Monday and extended their gains Tuesday.

More merger activity and a plan by Qualcomm Inc. to buy back stock brought reassurance that business leaders expect the recovery to continue. The economy's health had been in doubt in recent months after reports indicated the pace of improvement was slowing and as countries including Greece struggled with heavy debt loads.

The NYSE DOW closed HIGHER +2.19 points +0.02% on Tuesday March 2
Sym. Last......... ........Change..........
Dow 10,405.98 +2.19 +0.02%
Nasdaq 2,280.79 +7.22 +0.32%
S&P 500 1,118.31 +2.60 +0.23%
30-yr Bond 4.5690% +0.1200

NYSE Volume 4,788,575,500 (prior day 4,388,253,500)
Nasdaq Volume 2,790,432,250 (prior day 2,453,020,250)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,484.06 +78.12 +1.45%
DAX 5,776.56 +63.05 +1.10%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,221.84 +49.78 +0.49%
Hang Seng 20,906.11 -150.82 -0.72%
Straits Times 2,772.20 -1.86 -0.07%

http://finance.yahoo.com/news/More-merger-activity-helps-apf-2327669768.html?x=0

More merger activity helps lift stocks for 3rd day

Stocks extend gains after merger activity, improved economic reports overseas boost confidence

By Tim Paradis and Stephen Bernard, AP Business Writers , On Tuesday March 2, 2010, 5:16 pm

NEW YORK (AP) -- The stock market had its third straight winning day on signs that companies are becoming more optimistic about the economy.

The Dow Jones industrial average edged up 2 points Tuesday but closed off its best levels. The Dow had managed to erase its losses for the year during trading but was down 22 points for 2010 by the close. Broader indexes pushed into the black for the year on Monday and extended their gains Tuesday.

More merger activity and a plan by Qualcomm Inc. to buy back stock brought reassurance that business leaders expect the recovery to continue. The economy's health had been in doubt in recent months after reports indicated the pace of improvement was slowing and as countries including Greece struggled with heavy debt loads.

In deal news, CF Industries made a new offer for fertilizer maker Terra Industries, which last month agreed to be sold to Norway's Yara for $4.1 billion. Dow Chemical Co. sold its Styron plastics business to private equity firm Bain Capital for $1.63 billion. Investors often see takeovers as signs of confidence in the economy.

Meanwhile, Qualcomm said it would buy back $3 billion in stock and raise its dividend by 12 percent. Shares of the maker of wireless chips and other mobile technology rose 6.7 percent.

Markets got a lift from upbeat economic reports abroad and growing hopes European leaders will come up with a bailout for Greece. The Greek government is scheduled to detail deeper spending cuts on Wednesday.

Manufacturing exports in India rose for a third month in January and new orders reached an 18-month high last month. Japan's unemployment rate dropped for the second straight month in January and household spending grew.

The array of reports about dealmaking and global economic readings are clues for investors who are trying to determine how fast a recovery will take place. A long climb in the stock market began to stall in mid-January following mixed economic reports and concern about debt in Greece and other relatively weak European economies like Portugal and Spain.

Major stock indexes stand at their highest levels in more than a month but the gains have come in light trading volume. That indicates many investors are staying out of the market as they await more evidence about the economy.

Darell Krasnoff, managing director at Bel Air Investment Advisors in Los Angeles, said the rebound after the slide in January and early February is a sign that the market needed a break before it could proceed. Still, he said that investors feel burned by the slide in 2008 and early 2009 and have concerns about the economy.

"There is still tremendous anxiety about the state of the global economy," he said. "It doesn't take much to rekindle the animal spirits of the bear market."

The Dow rose 2.19, or less than 0.1 percent, to 10,405.98. It is up 85 points in three days and is at its highest level since Jan. 20.

The broader Standard & Poor's 500 index rose 2.60, or 0.2 percent, to 1,118.31, and the Nasdaq rose 7.22, or 0.3 percent, to 2,280.79.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note was flat at 3.61 percent from late Monday.

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

Crude oil rose 98 cents to $79.68 per barrel on the New York Mercantile Exchange.

Stocks rose Monday after American International Group agreed to sell its Asian life insurance business for $35.5 billion. The bailed-out insurer is selling off divisions to help repay government loans.

A bad report on jobs could puncture the improved mood because unemployment is seen by many analysts as the biggest obstacle to a sustained recovery. The Labor Department's February employment report is due Friday. It is expected to show the unemployment rate rose to 9.8 percent from 9.7 percent in January.

Many investors remain cautious, but there is also a chance some are becoming complacent. The Chicago Board Options Exchange's Volatility Index, which is known as the market's fear gauge, fell below 19 during trading Tuesday. A drop in the VIX suggests investors are expecting fewer swings in the market. The VIX hadn't gone below 19 since Jan. 21, two days after the Dow began to fall from a 15-month high.

Among stocks, shares of Terra rose $4.47, or 10.9 percent, to $45.67, while CF Industries fell $1.12, or 1 percent, to $106.42.

Dow Chemical rose 19 cents, or 0.7 percent, to $28.88.

Qualcomm rose $2.37, or 6.7 percent, to $37.93.

More than two stocks rose for every one that fell on the New York Stock Exchange where volume came to 1.1 billion shares compared with 966.6 million Monday.

The Russell 2000 index of smaller companies rose 5.66, or 0.9 percent, to 648.31.

Britain's FTSE 100 rose 1.5 percent, while Germany's DAX index and France's CAC-40 each gained 1.1 percent. Japan's Nikkei stock average rose 0.5 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Greece's long-awaited austerity plan wasn't enough for participants to forget about the fiscal troubles that still face the likes of Spain and Portugal. That left the stock market unable to sustain solid, broad-based gains.

Led by the materials sector, stocks made their way to fresh one-month highs. The materials sector had been up as much as 2.0% before it saw that gain cut in half. Still, materials saw the best gain of any major sector as a combination of momentum and a weaker dollar provided it with support.

Early gains in stocks unraveled Wednesday after the Federal Reserve signaled that the economic recovery will be slow.

Stocks ended mixed after the Fed's announcement that economic activity has improved in nine of its 12 districts but that the gains are "modest."

The report dampened enthusiasm that followed an upbeat report on services industries and more takeover news. The Dow Jones industrial average fell 9 points. For a second day, the Dow erased its losses for 2010 before surrendering the gains by the close.

The NYSE DOW closed LOWER -9.22 points -0.09% on Wednesday March 3
Sym. Last......... ........Change..........
Dow 10,396.76 -9.22 -0.09%
Nasdaq 2,280.68 -0.11 -0.00%
S&P 500 1,118.79 +0.48 +0.04%
30-yr Bond 4.5860% +0.1700

NYSE Volume 4,475,019,000 (prior day 4,788,575,500)
Nasdaq Volume 2,547,275,000 (prior day 2,790,432,250)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,533.21 +49.15 +0.90%
DAX 5,817.88 +41.32 +0.72%
CAC 40 3,842.52 +30.60 +0.80%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,253.14 +31.30 +0.31%
Hang Seng 20,876.79 -29.32 -0.14%
Straits Times 2,782.79 +10.59 +0.38%

http://finance.yahoo.com/news/Stocks-end-mixed-as-Fed-apf-282359240.html?x=0

Stocks end mixed as Fed points to slow recovery

Stocks surrender early gains after Federal Reserve sees new signs of slow economic rebound

By Tim Paradis, AP Business Writer , On Wednesday March 3, 2010, 5:24 pm

NEW YORK (AP) -- Early gains in stocks unraveled Wednesday after the Federal Reserve signaled that the economic recovery will be slow.

Stocks ended mixed after the Fed's announcement that economic activity has improved in nine of its 12 districts but that the gains are "modest."

The report dampened enthusiasm that followed an upbeat report on services industries and more takeover news. The Dow Jones industrial average fell 9 points. For a second day, the Dow erased its losses for 2010 before surrendering the gains by the close.

Stocks had been up for three straight days so some slowdown wasn't surprising. Major stock indexes stand at their highest levels since mid-January, when the Standard & Poor's 500 index began a 9 percent drop on concerns that the market was getting too far ahead of the still-struggling economy.

The market got an early boost Wednesday from a report that the services industries grew at the fastest rate in two years last month. Growth in services industries is seen as crucial for a rebound. The Institute for Supply Management's services index for February rose to 53 from 50.5 in January. Economists had forecast that the index would hit 51.

More corporate dealmaking also helped stocks, as occurred earlier in the week. Acquisitions signal that businesses are confident in the direction of the economy. In the latest deal, private equity firm Elliott Associates offered to buy the 91.5 percent of software maker Novell Inc. that it doesn't already own.

Separately, a report on the labor market came in as expected. Payroll company ADP said employers cut 20,000 jobs last month.

The ADP report is seen an early indicator of the government's closely watched monthly employment report, though there are often wide variations. The Labor Department is expected to report on Friday that the unemployment rate edged up to 9.8 percent last month and that employers cut 50,000 jobs. The struggling labor market is still one of the biggest concerns for investors.

But the Fed's afternoon report raised concerns that the recovery will be slow because of weak demand for loans and a mostly soft job market.

Tom Samuels, manager of the Palantir Fund in Houston, said he isn't seeing enough of an improvement in economic numbers to justify confidence in the recovery.

"We're coasting along from one day to the next and from one week to the next but we're really not getting any sense that things are being structurally fixed," Samuels said. His fund bets certain stocks will rise while others will fall.

The Dow fell 9.22, or 0.1 percent, to 10,396.76. It had risen nearly 64 points during trading.

The broader S&P 500 index rose 0.48, or less than 0.1 percent, to 1,118.79, its highest close since Jan. 20. The Nasdaq composite index slipped 0.11, or less than 0.1 percent, to 2,280.68.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.63 percent from 3.61 percent late Tuesday.

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

Crude oil rose $1.19 to $80.87 per barrel on the New York Mercantile Exchange.

Recent dealmaking has raised hopes that businesses will boost spending. Insurer American International Group agreed earlier in the week to sell its important Asian life insurance business to Britain's Prudential for $35.5 billion. On Tuesday, Dow Chemical Co. sold its Styron plastics business to private equity firm Bain Capital for $1.63 billion.

Nick Kalivas, vice president of financial research at MF Global in Chicago, said the merger news has reassured investors that stocks aren't overpriced because companies are still willing to pursue deals.

"It's causing people to get excited about owning stocks and I think it shows that there might be some value here," Kalivas said.

Meanwhile, austerity measures announced by Greece on Wednesday allayed some concerns about the global economy. Investors have been trying to determine whether problems there will spill over to other economies.

Among stocks, Novell jumped $1.33, or 28 percent, to $6.08.

Health care stocks fell after a drug being developed by Pfizer Inc. and Medivation Inc. for Alzheimer's disease failed in a late-stage trial. Pfizer fell 28 cents, or 1.6 percent, to $17.32. It was the biggest loser among the 30 stocks that make up the Dow.

Medivation plunged $27.15, or 67.5 percent, to $13.10 a day after setting a 12-month high.

The drop in health stocks came after President Barack Obama called on Congress to pass his latest health care package, which incorporates some Republican proposals.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume came to 936.7 million shares compared with 1.1 billion Tuesday.

The Russell 2000 index of smaller companies rose 0.95, or 0.2 percent, to 649.26.

Britain's FTSE 100 rose 0.9 percent, Germany's DAX gained 0.7 percent, and France's CAC-40 rose 0.8 percent. Japan's Nikkei stock average rose 0.3 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Trade was subdued for most of the session as participants exercised caution ahead of the February nonfarm payrolls report on Friday and a stronger dollar acted as an overhang. However, financial issues helped lift the broader market to a modest gain late in the session.

With the government's official jobs report scheduled for tomorrow morning, participants paid little attention to news that initial jobless claims for the week ended Feb. 27 totaled 469,000, which was in-line with the consensus call for 470,000 initial claims. Continuing claims dropped more than expected to 4.50 million.

In other economic news, pending home sales for January fell 7.6% month-over-month. A 1.0% monthly increase had been expected.

Optimism about the government's February jobs report sent the Dow Jones industrials back into the black for 2010.

Stocks ended Thursday with a moderate advance after managing only small moves for much of the day. Investors seemed to set aside concerns about the day's mixed economic reports and focus instead on the Labor Department's jobs report, due Friday morning.

The monthly snapshot of employment is widely considered to be the most important reading on the economy because a lasting recovery won't be possible if more jobs aren't created.

The NYSE DOW closed HIGHER +47.38 points +0.46% on Thursday March 4
Sym. Last......... ........Change..........
Dow 10,444.14 +47.38 +0.46%
Nasdaq 2,292.31 +11.63 +0.51%
S&P 500 1,122.97 +4.18 +0.37%
30-yr Bond 4.5560% -0.3000

NYSE Volume 4,449,004,000 (prior day 4,475,019,000)
Nasdaq Volume 2,149,035,500 (prior day 2,547,275,000)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,527.16 -6.05 -0.11%
DAX 5,795.32 -22.56 -0.39%
CAC 40 3,828.41 -14.11 -0.37%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,145.72 -107.42 -1.05%
Hang Seng 20,575.78 -301.01 -1.44%
Straits Times 2,768.70 -14.09 -0.51%

http://finance.yahoo.com/news/Dow-erases-its-loss-for-2010-apf-461721284.html?x=0

Dow erases its loss for 2010 ahead of jobs report

Late advance lifts Dow to the plus column for 2010; Traders look ahead to jobs report

Tim Paradis, AP Business Writer, On Thursday March 4, 2010, 5:18 pm

NEW YORK (AP) -- Optimism about the government's February jobs report sent the Dow Jones industrials back into the black for 2010.

Stocks ended Thursday with a moderate advance after managing only small moves for much of the day. Investors seemed to set aside concerns about the day's mixed economic reports and focus instead on the Labor Department's jobs report, due Friday morning.

The monthly snapshot of employment is widely considered to be the most important reading on the economy because a lasting recovery won't be possible if more jobs aren't created.

An unexpected drop in pending home sales held the market to a tight range for most of Thursday's trading. The National Association of Realtors said that its index of home sales agreements fell 7.6 percent in January from December. Sales contracts fell to the lowest level since April.

The housing numbers chilled some of the enthusiasm about stronger February sales at many retailers. Abercrombie & Fitch Co., Nordstrom Inc. and Target Corp. all posted monthly sales that topped analysts' expectations. Wal-Mart Stores Inc. raised its dividend 11 percent.

The Labor Department also said that initial jobless claims dipped last week after two straight weeks of unexpected increases. New claims fell to 469,000, better than the 470,000 economists had forecast.

The weekly numbers provided some encouragement ahead of February's employment figures. Friday's report is expected to show that unemployment rose to 9.8 percent from 9.7 percent in January as employers cut 50,000 jobs. But economists also expect slight gains in both average hourly earnings and average hours worked. Increases in these areas often precede a pickup in hiring.

The job market is often one of the last parts of the economy to recovery after a recession. Daniel Penrod, senior industry analyst for the California Credit Union League in Ontario, Calif., said employment gains are needed to stabilize the economy and add to a sense that a recovery is occurring.

"It used to be that confidence led into actual employment where I think the reverse is true now," he said. "The job market has been so severe nationally that people are really feeling the lumps."

The Dow rose 47.38, or 0.5 percent, to 10,444.14, its highest close since Jan. 20. The Dow is now up 16 points, or 0.2 percent, for 2010.

The Standard & Poor's 500 index rose 4.18, or 0.4 percent, to 1,122.97. It is up 0.7 percent for the year.

The Nasdaq composite index rose 11.63, or 0.5 percent, to 2,292.31 and is up 1 percent in 2010.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 960.8 million shares compared with 936.7 million shares traded at the same point Wednesday.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.61 percent from 3.63 percent late Wednesday.

Crude oil fell 66 cents to settle at $80.21 per barrel on the New York Mercantile Exchange.

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

Among retailers, Abercrombie jumped $5.28, or 14.6 percent, to $41.52, while Nordstrom rose 51 cents, or 1.4 percent, to $38.32. Target advanced $1.26, or 2.4 percent, to $52.94. Wal-Mart rose 30 cents, or 0.6 percent, to $53.96.

Bank stocks rose after the Treasury Department took in a record $1.54 billion from the sale of warrants it received from Bank of America Corp. in exchange for support during the financial crisis. Warrants allow the owner to buy a stock in the future at a certain price. The demand for warrants signals that investors expect the stock to go higher. Shares of Bank of America rose 3 cents to $16.40.

The Russell 2000 index of smaller companies rose 3.21, or 0.5 percent, to 652.47.

Overseas, Britain's FTSE 100 fell 0.1 percent, while Germany's DAX index and France's CAC-40 each fell 0.4 percent. Japan's Nikkei stock average fell 1.1 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 240.94 points, or 2.3 percent, at 10,566.20. The Standard & Poor's 500 index rose 34.21, or 3.1 percent, to 1,138.70. The Nasdaq composite index rose 88.09, or 3.9 percent, to 2,326.35.

A smaller-than-expected decline in February nonfarm payrolls provided participants with a reason to bid stocks broadly higher, but financials booked the best gains for the second straight session.

Stocks spent the entire session in higher ground. The positive mood on Wall Street was reinforced by the latest Nonfarm Payrolls Report, which showed that just 36,000 jobs were lost in February when a decline of 68,000 had been widely expected. Additionally, the unemployment rate for February came in at 9.7%, which is below the 9.8% rate that had been widely forecast and unchanged from the January rate.

Stocks jumped Friday after the government's employment report showed fewer jobs were cut in February than expected.

Major stock indexes climbed more than 1 percent, including the Dow Jones industrial average, which rose 122 points to add to strong gains for the week. Treasury prices slid as demand for safe havens eased.

The Labor Department's monthly report is seen as the most important measure of the economy's health. A drop in unemployment is necessary for the economy to make a sustained rebound.

The NYSE DOW closed HIGHER +122.06points +1.17% on Firday March 5
Sym. Last......... ........Change..........
Dow 10,566.20 +122.06 +1.17%
Nasdaq 2,326.35 +34.04 +1.48%
S&P 500 1,138.69 +15.72 +1.40%
30-yr Bond 4.6390% +0.8300

NYSE Volume 4,814,204,500 (prior day 4,449,004,000)
Nasdaq Volume 2,367,324,750 (prior day 2,149,035,500)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,599.76 +72.60 +1.31%
DAX 5,877.36 +82.04 +1.42%
CAC 40 4,012.91 -1.06 -0.03%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,368.96 +223.24 +2.20%
Hang Seng 20,787.97 +212.19 +1.03%

http://finance.yahoo.com/news/Stocks-jump-after-apf-3746166180.html?x=0

Stocks jump after better-than-expected jobs report

Stocks jump after report shows employers cut fewer jobs than forecast in Feb.; Dow gains 122
Stephen Bernard, AP Business Writer, On Friday March 5, 2010, 6:08 pm

NEW YORK (AP) -- Stocks jumped Friday after the government's employment report showed fewer jobs were cut in February than expected.

Major stock indexes climbed more than 1 percent, including the Dow Jones industrial average, which rose 122 points to add to strong gains for the week. Treasury prices slid as demand for safe havens eased.

The Labor Department's monthly report is seen as the most important measure of the economy's health. A drop in unemployment is necessary for the economy to make a sustained rebound.

The better-than-expected jobs report helped push oil and other commodities higher on expectations that demand for resources would increase as the economy strengthens. That helped energy and material companies like ExxonMobil Corp. and Chevron Corp.

Meanwhile, Apple Inc. shares reached a new high after the company said its iPad tablet computer will hit store shelves on April 3.

The market extended its gains in the final hour of trading after the Federal Reserve reported that consumer borrowing rose in January to break a record 11 straight months of drops. The gain came from an increase in auto loans.

The report raised expectations that consumers are starting to increase their spending. On Thursday, many retailers posted stronger sales for January.

But it was the jobs report that gave the market an early push. Employers cut 36,000 jobs last month, better than the 50,000 cuts forecast by economists polled by Thomson Reuters. The unemployment rate held steady at 9.7 percent. Economists were expecting it to rise to 9.8 percent.

Friday's gains followed a jump at the start of the week on a handful of corporate takeover announcements. Traders often look to buyouts as a sign of confidence among corporate leaders. Though employers aren't yet adding full-time staff, jobs growth is fundamental to a recovery because it puts money in more workers pockets, allowing them to increase spending.

"We haven't won the game yet," said James Meyer, chief investment officer at Tower Bridge Advisors. "We're just getting back to neutral. You can't get from negative to positive without crossing zero."

The Dow rose 122.06, or 1.2 percent, to 10,566.20, its highest close since Jan. 20. It was the Dow's best point and percentage gain since Feb. 16.

The Standard & Poor's 500 index rose for a sixth straight day, rising 15.73, or 1.4 percent, to 1,138.70. The Nasdaq composite index added 34.04, or 1.5 percent, to 2,326.35.

Five stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume rose to 4.2 billion shares from 4 billion Thursday.

For the week, the Dow rose 2.3 percent, its best advance since the week ended Feb. 19. The S&P 500 index jumped 3.1 percent and the Nasdaq rose 3.9 percent. The indexes erased their losses for 2010 during the week.

The coming week brings the one-year anniversary of the market's rebound. On March 9, 2009, major stock indexes tumbled to 12-year lows as concern grew about the economy. Citigroup Inc.'s report that it had made money in early 2009 helped jump-start the recovery.

Meanwhile, bond prices fell on signs of the improving economy. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.69 percent from 3.61 percent late Thursday.

The prospect of future job growth also encouraged traders. Temporary workers, which are often seen as a precursor to employers adding full-time staff, rose 48,000 last month. Average hourly earnings rose by 3 cents to $22.46.

The Labor Department wouldn't quantify how severe snowstorms that pummeled the East Coast last month might have had swayed the report. Economists estimated before the report that the storms could inflate job losses by 100,000 or more.

Jerry Harris, president and chief investment officer at Sterne Agee Asset Management, said March's results could be even better because the bad weather likely made February's job losses worse.

Energy companies were among the biggest winners on the day as oil rose $1.29 to $81.50 a barrel. Chevron rose $1.22 to $74.30, while ExxonMobil rose $1.07 to $66.47.

Financial stocks also got a boost from the improved employment numbers, which might lead to fewer loan losses. A recovery in the labor market is "the most critical factor" in getting more people to keep up with their debts, said Edward Crotty, chief investment officer at Davidson Investment Advisors.

Bank of America Corp. rose 30 cents to $16.70, while JPMorgan Chase & Co. climbed 89 cents to $42.81.

After announcing the launch date for the iPad, Apple rose $8.24, or 3.9 percent, to $218.95. It rose as high as $219.70 during trading.

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

The Russell 2000 index of smaller companies rose 13.55, or 2.1 percent, to 666.02.

Overseas markets rose on the U.S. jobs report, and after a successful bond sale by debt-burdened Greece. Budget and debt problems in Greece have dogged the markets in recent months.

Britain's FTSE 100 rose 1.3 percent, Germany's DAX index gained 1.4 percent, and France's CAC-40 rose 2.1 percent. Japan's Nikkei stock average surged 2.2 percent.

The Dow Jones industrial average closed the week up 240.94 points, or 2.3 percent, at 10,566.20. The Standard & Poor's 500 index rose 34.21, or 3.1 percent, to 1,138.70. The Nasdaq composite index rose 88.09, or 3.9 percent, to 2,326.35.

The Russell 2000 index, which tracks the performance of small company stocks, rose 37.46, or 6 percent, for the week to 666.02.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,726.82, up 383.65, or 3.4 percent.

4507

 

[bigdog]

Source: http://finance.yahoo.com

Listless and lackluster action kept participants on the sidelines as stocks consolidated their recent gains. A lack of market-moving headlines and other trading catalysts also made for minimal participation.

Investors and traders showed little willingness to step back into the stock market after it advanced more than 3% last week. In turn, hardly 900 million shares exchanged hands on the NYSE in what was this year's second-smallest level of volume.

In addition to the light trade, action was also rather quiet and stocks spent most of the session stuck in a narrow range. There were neither economic data nor corporate news items to act as movers.

Stocks ended mixed after a new round of mergers and acquisitions raised some hope for the economy.

Financial shares rose after insurer American International Group Inc. reached a deal to sell one of its major foreign divisions to MetLife Inc. for $15.5 billion. MetLife had confirmed last month it was in talks with AIG to buy the unit known as Alico.

It's the second major sale AIG has made this month as part of its plans to trim operations, shed assets and repay more than $100 billion in government bailout money it received during the credit crisis.

The NYSE DOW closed LOWER -13.68 points -0.13% on Monday March 8
Sym. Last......... ........Change..........
Dow 10,552.52 -13.68 -0.13%
Nasdaq 2,332.21 +5.86 +0.25%
S&P 500 1,138.50 -0.19 -0.02%
30-yr Bond 4.6720% +0.3300

NYSE Volume 4,249,254,000 (prior day 4,814,204,500)
Nasdaq Volume 2,187,086,250 (prior day 2,367,324,750)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,606.72 +6.96 +0.12%
DAX 5,875.91 -1.45 -0.02%
CAC 40 3,903.54 -6.88 -0.18%


Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,585.92 +216.96 +2.09%
Hang Seng 21,196.87 +408.90 +1.97%
Straits Times 2,834.57 +44.28 +1.59%

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

Stocks trade flat after more corporate dealmaking

Stocks end mixed after corporate dealmaking boosts financials; health care stocks fall

Stephen Bernard and Tim Paradis, AP Business Writers, On Monday March 8, 2010, 4:37 pm

NEW YORK (AP) -- Stocks ended mixed after a new round of mergers and acquisitions raised some hope for the economy.

Financial shares rose after insurer American International Group Inc. reached a deal to sell one of its major foreign divisions to MetLife Inc. for $15.5 billion. MetLife had confirmed last month it was in talks with AIG to buy the unit known as Alico.

It's the second major sale AIG has made this month as part of its plans to trim operations, shed assets and repay more than $100 billion in government bailout money it received during the credit crisis.

Also, Royal Dutch Shell and PetroChina offered to buy Australia's Arrow Energy Ltd. for $3 billion in cash and stock. Royal Dutch Shell already owns a 10 percent stake in Arrow's international business.

Meanwhile, health care stocks fell after President Barack Obama called for passage of health care legislation.

The modest moves in the overall market follow a jump in stocks Friday. The government's February jobs report was stronger than expected.

According to preliminary calculations, the Dow Jones industrial average fell 13.68, or 0.1 percent, to 10,552.52. The Standard & Poor's 500 index slipped 0.20, or less than 0.1 percent, to 1,138.50. That breaks a streak of six straight advances.

The Nasdaq composite index rose 5.86, or 0.3 percent, to 2,332.21, its highest close since September 2008.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.72 percent from 3.69 percent late Friday.

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

In corporate news, McDonald's Corp. said Monday that sales at restaurants open at least a year climbed 4.8 percent in February on strong overseas growth and a small rise in U.S. sales. McDonald's rose $1.45, or 2.3 percent, to $65.12.

With little economic data due during the first half of this week, traders will be looking for other cues to give the market direction.

Investors will get a handful of economic reports toward the end of the week that should provide some insight into the health of the economy. Reports on wholesale and business inventories, retail sales and consumer sentiment are all scheduled for release beginning Wednesday and running through the rest of the week.

Major indexes all jumped more than 1 percent on Friday after the Labor Department said employers cut fewer jobs in February than predicted. The unemployment rate also held steady at 9.7 percent. Economists polled by Thomson Reuters forecast it would rise.

The encouraging signs in the report have investors hopeful that employers will start to add jobs in the coming months. High unemployment has been a major stumbling block to a sustained recovery.

Among stocks, AIG rose $1.02, or 3.6 percent, to $29.10, while MetLife rose $1.98, or 5.1 percent, to $40.90.

Managed care companies fell after Obama pushed for changes to health care and criticized insurance companies.

UnitedHealth fell 64 cents, or 1.9 percent, to $33.10. Aetna Inc. fell 16 cents, or 0.5 percent, to $31.22.

The Russell 2000 index of smaller companies rose 1.09, or 0.2 percent, to 667.11.

Three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 906.6 million shares compared with 1.1 billion Friday.

Overseas, Britain's FTSE 100 rose 0.1 percent, Germany's DAX index fell less than 0.1 percent, and France's CAC-40 lost 0.2 percent. Japan's Nikkei stock average rose 2.1 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks made their way to solid gains after a soft start, but pressure picked up after stocks failed to extend the advance in afternoon trade. Still, the major indices finished the session modestly higher.

A lack of upbeat headlines and a stronger dollar left buyers with little reason to get back into the action. The tepid tone was reflective of broader sentiment, which has some in fear that the stock market may be overextended after its rally in the past year -- the S&P 500 is up nearly 70% since its multiyear closing low reached exactly one year ago. While no one wants to be in a vulnerable position if a correction takes place, few want to risk missing out on further gains.

Stocks are also just 1% off of their 52-week highs, which were reached in mid-January. A stronger dollar has been a hurdle for stocks to return to that mark, though. The buck advanced a mere 0.1% this session, but that was only after it pared its gain. Initially, the greenback garnered support as the euro and British pound were pressured by news that analysts at Fitch kept a Negative outlook in place for Portugal's AA rating and that Britain's plan to halve its deficit in four years was determined to be too slow.

A year after the stock market began its comeback from 12-year lows, investors are looking for the next big thing.

Stocks have lost some of the momentum that propelled the Dow Jones industrial average up 61.4 percent from its close of 6,547 on March 9, 2009. That's natural -- bull markets tend to slow down as they head into their second year. But the lethargic pace of the economic recovery has also been a bit of a drag on stocks. And so investors are waiting for signs that the economy is ready to put up some solid, sustainable growth numbers.

The most likely trigger: job growth. Investors need to see a Labor Department report that says employers are creating more jobs than they're cutting.

The NYSE DOW closed HIGHER +11.86 points +0.11% on Tuesday March 9
Sym. Last......... ........Change..........
Dow 10,564.38 +11.86 +0.11%
Nasdaq 2,340.68 +8.47 +0.36%
S&P 500 1,140.44 +1.94 +0.17%
30-yr Bond 4.6770% +0.0500

NYSE Volume 5,802,309,500 (prior day 4,249,254,000)
Nasdaq Volume 2,559,494,000 (prior day 2,187,086,250)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,602.30 -4.42 -0.08%
DAX 5,885.89 +9.98 +0.17%
CAC 40 3,910.01 +6.47 +0.17%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,567.65 -18.27 -0.17%
Hang Seng 21,207.55 +10.68 +0.05%
Straits Times 2,839.54 +4.97 +0.18%

http://finance.yahoo.com/news/Stock...0.html?x=0&sec=topStories&pos=7&asset=&ccode=

Tim Paradis, AP Business Writer, On Tuesday March 9, 2010, 4:39 pm

NEW YORK (AP) -- A year after the stock market began its comeback from 12-year lows, investors are looking for the next big thing.

Stocks have lost some of the momentum that propelled the Dow Jones industrial average up 61.4 percent from its close of 6,547 on March 9, 2009. That's natural -- bull markets tend to slow down as they head into their second year. But the lethargic pace of the economic recovery has also been a bit of a drag on stocks. And so investors are waiting for signs that the economy is ready to put up some solid, sustainable growth numbers.

The most likely trigger: job growth. Investors need to see a Labor Department report that says employers are creating more jobs than they're cutting.

Until then, investors are going to stay cautious. Analysts say the market is likely to move sideways or drift higher, as it's been doing over the past few weeks. Tuesday's trading fit the pattern of modest moves. The Dow rose nearly 12 points. The average is up 1.3 percent so far this year.

But that doesn't mean the market isn't going to have its fitful moments. And it certainly has volatile industries that are expected to move the rest of the market. On Tuesday, the financial companies that led stocks higher in the past year again drove trading. Analysts said financial shares rallied as investors reacted to rumors that the government might prohibit the trades known as short sales in stocks of companies it owns. The government has large stakes in Citigroup Inc., American International Group Inc. and mortgage companies Fannie Mae and Freddie Mac after bailing them out during the 2008 financial crisis.

The market began its ascent last March 10 after Citigroup Inc., the big bank most wounded by the credit crisis and recession, said it had turned a profit. Signs that the housing market was starting to turn around added to the momentum.

At the time, such news, which amounted to glimmers of hope, were enough for investors. With stock prices so much higher now, they want proof.

"A lot of the gains we already enjoyed have been in anticipation of economic progress which has not yet occurred," said Lawrence Creatura, portfolio manager at Federated Clover Investment Advisors.

Besides jobs, investors need to see more strength in the housing market. Traders have been tolerant of recent declines in home sales, but if those numbers don't pick up, the market is likely to become uneasy.

First-quarter earnings reports that will be issued next month need to show continued sales growth. Companies' results for the last three months of 2009 were better than expected. Now the market wants to know that demand, starting with consumers, is rising.

Adam Gould, senior portfolio manager at Direxion Funds in New York, said he will be looking for at least two months of back-to-back gains in job growth and for the unemployment rate to fall below 9 percent to feel more comfortable about the pace of recovery. Unemployment stands at 9.7 percent.

Even if the news improves, just holding the gains of the last year could be tough. Some of the market's big gains in past years were followed by slumps. In the first year of the 1982-87 bull market, the Standard & Poor's 500 index jumped 58 percent. In the second year, the index fell 14.4 percent.

That doesn't mean that's what will happen this time. In 2003, the S&P 500 index rose 26.4 percent. Then, in 2004, it peaked early and fizzled, until a 10.7 percent surge late in the year lifted stocks.

According to preliminary calculations, the Dow on Tuesday rose 11.86, or 0.1 percent, to 10,564.38. The Dow remains 25 percent below its peak of 14,164.53, reached in October 2007.

The S&P 500 index, the barometer favored by professional investors, rose 1.95, or 0.2 percent, to 1,140.45. The index is up 68.6 percent in the past year. Including dividends, it's up about 72 percent. It is still down 27 percent from its high of 1,565.15, also reached in October 2007.

And the Nasdaq composite index rose 8.47, or 0.4 percent, to 2,340.68. The Nasdaq is at an 18-month high but still down by more than half from its peak reached 10 years ago Wednesday. On March 10, 2000, it rose to 5,048.62 at the height of the dot-com bubble.

 

[bigdog]

Source: http://finance.yahoo.com

In the absence of any broader market catalysts, financials and tech issues led the major indices to varied gains in the face of choppy trade.

This morning's mood was generally subdued, but stocks were able to stage an early advance as financials garnered support in the face of news that some Senate Democrats will propose to expand the Volker Rule with new limits on proprietary trading by banks and nonbank financial firms.

Scant buying lifted stocks for a second day Wednesday after the government reported a drop in companies' inventories.

The Dow Jones industrials rose only 3 points as the market remained in a lull that began on Monday. Many investors stayed on the sidelines amid an absence of news that could influence trading.

The Commerce Department said that wholesale inventories fell 0.2 percent in January after dropping 1 percent in December. Companies' sales rose 1.3 percent, the 10th straight gain. The drop in inventories and the rise in sales suggests that companies are working through inventory to meet demand and will have to begin restocking.

The NYSE DOW closed HIGHER +2.95 points +2.95 on Wednesday March 10
Sym. Last......... ........Change..........
Dow 10,567.33 +2.95 +0.03%
Nasdaq 2,358.95 +18.27 +0.78%
S&P 500 1,145.61 +5.17 +0.45%
30-yr Bond 4.6890% +0.1200

NYSE Volume 6,089,594,500 (prior day 5,802,309,500)
Nasdaq Volume 2,496,931,750 (prior day 2,559,494,000)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,640.57 +38.27 +0.68%
DAX 5,936.72 +50.83 +0.86%
CAC 40 3,943.55 +33.54 +0.86%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,563.92 -3.73 -0.04%
Hang Seng 21,208.29 +0.74 +0.00%
Straits Times 2,862.29 +22.75 +0.80%

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

Stocks rise after inventories fall and sales gain

Stocks inch higher after wholesale inventories slip and sales climb; Dow edges up 3 points

Tim Paradis, AP Business Writer, On Wednesday March 10, 2010, 5:10 pm

NEW YORK (AP) -- Scant buying lifted stocks for a second day Wednesday after the government reported a drop in companies' inventories.

The Dow Jones industrials rose only 3 points as the market remained in a lull that began on Monday. Many investors stayed on the sidelines amid an absence of news that could influence trading.

The Commerce Department said that wholesale inventories fell 0.2 percent in January after dropping 1 percent in December. Companies' sales rose 1.3 percent, the 10th straight gain. The drop in inventories and the rise in sales suggests that companies are working through inventory to meet demand and will have to begin restocking.

The report was the latest bit of economic news to help nudge stocks higher. The numbers on the economy haven't been strong enough to galvanize traders because many improvements are already reflected in stock prices.

Stocks have been drifting higher this week in light trading volume. That signals that there isn't much conviction underpinning the market's climb. The Labor Department's report that employers cut fewer jobs than expected in February sent the Dow up 122 on Friday but its moves since then have been modest.

Reports on weekly jobless claims, retail sales and consumer sentiment will be released in the coming days and could give investors a better sense of where the economy stands.

Investors were also cautious ahead of an inflation report in China. Traders speculated that the report, due Thursday, could show that prices are rising quickly as the economy there continues to grow at a fast pace. If prices jump, the Chinese central bank might boost raise interest rates. The concern is that higher rates in China would mean a slowdown in the global recovery.

The Dow and the Standard & Poor's 500 index have also been flirting with the 15-month highs set in January, making investors hesitant to place big bets.

Alan Valdes, vice president at Hilliard Lyons in New York, said traders aren't finding enough to power the market above its recent highs.

"It's more like a trading range right now," he said.

The Dow rose 2.95, or less than 0.1 percent, to 10,567.33. The S&P 500 index rose 5.16, or 0.5 percent, to 1,145.61.

The Nasdaq composite index rose 18.27, or 0.8 percent, to 2,358.95, an 18-month high. The index is still down by about half from its peak of 5,048.62, which was 10 years ago Wednesday as the tech stock boom crested.

Major indexes all rose modestly Tuesday, the one-year anniversary of the Dow and the S&P 500 index hitting 12-year lows.

Bond prices dipped. The yield on the benchmark 10-year note, which moves opposite its price, rose to 3.73 percent from 3.71 percent late Tuesday.

Gold fell. Crude oil rose 60 cents to settle at $82.09 per barrel on the New York Mercantile Exchange.

Some analysts see the week's subdued trading and light volume as the kind of ominous quiet that can leave investors unprepared for big moves in the market.

Christian Bendixen, director of technical research at Bay Crest Partners in New York, is watching the market from the sidelines because he doesn't have enough evidence to determine which way stocks are likely to head.

"The market just keeps grinding higher and it's amazing. We've hardly had a pause," he said. "We've chosen to sit out a few days and see what happens."

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

The Russell 2000 index of smaller companies rose 5.30, or 0.8 percent, to 674.93.

Britain's FTSE 100 rose 0.7 percent, Germany's DAX index and France's CAC-40 each rose 0.9 percent. Japan's Nikkei stock average fell less than 0.1 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks Close Higher; S&P at 17-Month High

Stocks were confined to a narrow trading range just below the neutral line for most of the session, but a late bounce by financials gave the broader market its ninth gain in ten sessions and helped it close in-line with its 52-week high.

A subdued mood governed trade in the early going and for most of the afternoon. Participants appeared inclined to sit on recent gains amid a lack of market-moving headlines, including an initial jobless claims count of 462,000 for the week ended Mar. 6. The consensus had called for 460,000 initial claims that had been expected.

A rally in financial stocks Thursday helped the market extend its grind higher to a third day.

The Standard & Poor's 500 index cleared an important hurdle watched by traders when it closed just above its January peak to set a new 17-month high. That could bring some hesitant buyers into the market.

Financial shares rose after Citigroup Inc. CEO Vikram Pandit said the bank was on a path toward "sustained profitability" as it sells off risky assets. The bank has been the hardest hit by the financial crisis so the upbeat assessment helped boost expectations about the economy. The stock rose 5.6 percent.

The NYSE DOW closed HIGHER +44.51 points +0.42% on Thursday March 11
Sym. Last......... ........Change..........
Dow 10,611.84 +44.51 +0.42%
Nasdaq 2,368.46 +9.51 +0.40%
S&P 500 1,150.24 +4.63 +0.40%
30-yr Bond 4.6590% -0.3000

NYSE Volume 5,292,861,000 (prior day 6,089,594,500)
Nasdaq Volume 2,185,938,750 (prior day 2,496,931,750)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,617.26 -23.31 -0.41%
DAX 5,928.63 -8.09 -0.14%
CAC 40 4,012.91 -1.06 -0.03%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,664.95 +101.03 +0.96%
Hang Seng 21,228.20 +19.91 +0.09%
Straits Times 2,873.91 +11.62 +0.41%

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

Stocks climb for 3rd day as financial shares rise

Stocks rise after Citigroup forecast lifts bank shares; S&P 500 index tops January high

Stephen Bernard and Tim Paradis, AP Business Writers, On Thursday March 11, 2010, 4:48 pm
NEW YORK (AP) -- A rally in financial stocks Thursday helped the market extend its grind higher to a third day.

The Standard & Poor's 500 index cleared an important hurdle watched by traders when it closed just above its January peak to set a new 17-month high. That could bring some hesitant buyers into the market.

Financial shares rose after Citigroup Inc. CEO Vikram Pandit said the bank was on a path toward "sustained profitability" as it sells off risky assets. The bank has been the hardest hit by the financial crisis so the upbeat assessment helped boost expectations about the economy. The stock rose 5.6 percent.

The climb by financials helped offset concern about a spike in inflation in China. The country said its inflation rate rose to 2.7 percent in February from 1.5 percent in January. A steep rise in prices could force China to raise interest rates. That, in turn, could slow one of the world's fastest-growing economies and put a damper on a global recovery.

Jim Dunigan, managing executive of investments at PNC Wealth Management, said he expects that China will be able to contain prices for now.

"We'll see hints of inflation here and there but I don't think we'll see that problem for a while," he said.

In the U.S., the Labor Department said workers filing for jobless benefits for the first time fell by 6,000 to 462,000 last week. Economists were predicting a slightly bigger drop, according to Thomson Reuters.

The report showed some easing in the labor market, but it didn't point to the increase in hiring that investors want to see. Stocks have traded in a narrow range since the Labor Department said on Friday that employers cut fewer jobs in February than analysts expected. The market is looking for more signs of progress.

The week's quiet trading comes as investors look for more signs about the direction of the economy.

According to preliminary calculations, the Dow Jones industrial average rose 44.51, or 0.4 percent, to 10,611.84. It is down 1.1 percent from its recent high in Jan. 19.

The S&P 500 index advanced 4.63, or 0.4 percent, to 1,150.24, above its Jan. 19 close of 1,150.23. The index now stands at its highest level since Oct. 1, 2008.

The Nasdaq composite index rose 9.51, or 0.4 percent, to 2,368.46 for its sixth straight advance.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was flat at 3.73 percent.

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

Crude oil rose 2 cents to settle at $82.11 per barrel on the New York Mercantile Exchange.

David Joy, chief market strategist at RiverSource Investments, said he was impressed that traders shrugged off the increase in China's inflation in a week with few economic reports. Investors often become uneasy when there is little new news. That can lead them to sell stocks.

"The concept of an economic recovery is garnering a little more credibility," he said. "We've arrived at a place where stocks are fairly valued."

The close above the January high by the S&P 500 index could give some of the investors sitting out of the market new incentive to pump money into stocks. The market slipped Monday and inched higher Tuesday and Wednesday. Volume has been light, a sign that traders have limited faith in the market's recent gains.

Corporate dealmaking continued. Oil company BP will pay $7 billion to acquire exploration rights from Devon Energy Corp. BP will acquire rights to explore in Brazil, the U.S. Gulf of Mexico and Caspian Sea.

Increased mergers and acquisitions in recent weeks has been a welcome sign that corporate leaders believe the economy is getting stronger.

Citigroup rose 22 cents, or 5.6 percent, to $4.18. It was a year ago this week, on March 10, 2009, that the Dow and the S&P 500 index began to pull off of 1-year lows after Citigroup said it had been making money.

Two stocks rose for every three that fell on the New York Stock Exchange, where trading volume came to 975.6 million shares, compared with 1.1 billion Wednesday.

The Russell 2000 rose 2.29, or 0.3 percent, to 677.22.

Britain's FTSE 100 fell 0.4 percent, Germany's DAX index slipped 0.1 percent, and France's CAC-40 fell 0.4 percent. Japan's Nikkei stock average rose 1 percent.