NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 58.49 points, or 0.6 percent, at 10,624.69. The Standard & Poor's 500 index rose 11.29, or 1 percent, to 1,149.99. The Nasdaq composite index rose 41.31, or 1.8 percent, to 2,367.66.

Stocks set a fractionally improved 52-week high in the early going, but then spent the rest of the session stuck in a choppy sideways trade as a disappointing consumer sentiment survey weighed on the mood of participants.

Momentum from four straight gains helped position stocks for a positive start this morning. A weaker dollar also helped -- it traded with a marked loss for the entire session as the euro and British pound garnered support amid news that industrial production in Europe spiked a sharper-than-expected 1.7% in January. A recommendation from analysts at Goldman Sachs to buy the euro also helped the currency. The dollar closed down 0.6%

Mixed economic reports held the stock market to only modest moves Friday but gains for the week were strong.

Uneven figures on retail sales and consumer confidence gave investors little new insight into the economy.

The reports weren't enough to propel the market higher a day after the Standard & Poor's 500 index closed at its highest level in 17 months. That index slipped Friday, but the Dow Jones industrial average tacked on nearly 13 points.

The NYSE DOW closed HIGHER +12.85 points +0.12% on Friday March 12
Sym. Last......... ........Change..........
Dow 10,624.69 +12.85 +0.12%
Nasdaq 2,367.66 -0.80 -0.03%
S&P 500 1,149.99 -0.25 -0.02%
30-yr Bond 4.6330% -0.2600

NYSE Volume 5,506,876,500 (prior day 5,292,861,000)
Nasdaq Volume 2,036,014,120 (prior day 2,185,938,750)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,625.65 +8.39 +0.15%
DAX 5,945.11 +16.48 +0.28%
CAC 40 3,927.40 -1.55 -0.04%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,751.26 +86.31 +0.81%
Hang Seng 21,209.74 -18.46 -0.09%
Straits Times 2,881.36 +7.45 +0.26%

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

Stocks end mixed after mixed economic reports

Stocks end mixed after surprise uptick in retail sales, weaker reading on consumer sentiment

Tim Paradis and Ieva M. Augstums, AP Business Writers, On Friday March 12, 2010, 6:06 pm

NEW YORK (AP) -- Mixed economic reports held the stock market to only modest moves Friday but gains for the week were strong.

Uneven figures on retail sales and consumer confidence gave investors little new insight into the economy.

The reports weren't enough to propel the market higher a day after the Standard & Poor's 500 index closed at its highest level in 17 months. That index slipped Friday, but the Dow Jones industrial average tacked on nearly 13 points.

Major stock indicators climbed for the week after investors grew more upbeat about the health of banks. Shares of Citigroup Inc. rose 13.4 percent for the week.

Stocks had been modestly higher at the start of trading Friday after a surprising increase in February retail sales. The Commerce Department said retail sales rose 0.3 percent last month. Analysts had expected a drop.

A weaker report on consumer sentiment disappointed traders. The preliminary Reuters/University of Michigan consumer sentiment index for March fell to 72.5 from 73.6 in late February.

Investors also were displeased with the Commerce Department's report that inventories were unchanged. Economists had forecast an increase. Analysts are hoping that businesses will restock store shelves on a consistent basis, which would be a positive signal for the economy.

The reports come as investors look for more signs about the economy's direction. The market bounced higher in the prior week after the Labor Department said employers cut fewer jobs in February than economists had expected. But trading has been more subdued since.

Neil Menard, principal at Steben & Co. in Rockville, Md., said the market could continue to make incremental gains until investors have a better sense about the job market. He sees little confidence behind stocks' advance the past two weeks.

"There is a lack of conviction in the markets," he said. "Everyone is kind of in wait-and-see mode."

The Dow rose 12.85, or 0.1 percent, to 10,624.69. The broader S&P 500 index slipped 0.25, or less than 0.1 percent, to 1,149.99. The Nasdaq composite index fell 0.80, or less than 0.1 percent, to 2,367.66. It stands at an 18-month high.

For the week, the Dow rose 0.6 percent, the S&P 500 index rose 1 percent and the technology-dominated Nasdaq climbed 1.8 percent.

Bond prices were mixed. 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.

Crude oil fell 87 cents to settle at $81.24 per barrel on the New York Mercantile Exchange.

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

Stocks were mixed Monday after insurer American International Group Inc. sold one of its big foreign divisions to MetLife Inc. for $15.5 billion. The market rose Tuesday and Wednesday and posted bigger gains Thursday after Citigroup's CEO said the bank was moving toward "sustained profitability." Citigroup was the hardest hit bank during the financial crisis.

The coming week could provide important signals about the economy. The Federal Reserve's interest rate committee meets Tuesday. Although policymakers are almost certain to leave their target interest rate at a record low of essentially zero, traders will be looking at the policy statement that follows the meeting. Even the slightest shift in the Fed's language on how long interest rates will remain unchanged or on its assessment of the economy likely would move the market. Reports are also due on inflation and regional manufacturing.

Christian Hviid, chief market strategist at Genworth Financial Asset Management in Encino, Calif., said the market's slow ascent during the week was good but that stocks are still up too much in the past month.

"It's better that we move slowly upward than violently up and then see a lot of volatility," he said.

The S&P 500 index is up 8.8 percent from its recent low on Feb. 8. A gain of that size might typically come in a year.

Hviid said the trading volume and activity that comes with next week's expiration of options contracts could shake up the market.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where consolidated volume came to 4.9 billion shares compared with 4.3 billion Thursday.

The Russell 2000 index of smaller companies fell 0.63, or 0.1 percent, to 676.59.

Britain's FTSE 100 rose 0.2 percent, Germany's DAX index rose 0.3 percent, and France's CAC-40 fell less than 0.1 percent. Japan's Nikkei stock average rose 0.8 percent.

Augstums reported from Charlotte, N.C.

The Dow Jones industrial average closed the week up 58.49 points, or 0.6 percent, at 10,624.69. The Standard & Poor's 500 index rose 11.29, or 1 percent, to 1,149.99. The Nasdaq composite index rose 41.31, or 1.8 percent, to 2,367.66.

The Russell 2000 index, which tracks the performance of small company stocks, rose 10.57, or 1.6 percent, for the week to 676.59.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,856.51, up 129.69, or 1.1 percent.

5072

 

[bigdog]

Source: http://finance.yahoo.com

There were plenty of headlines today, but participants were focused on the upcoming FOMC policy statement. Uncertainty ahead of the directive left stocks to trade listlessly for most of the session, but a late rally helped stocks finish near session highs.

Though it closed near its best level, the stock market finished flat for the session as the S&P 500 got hung up on the 1150 line in the final few minutes of trade. The line, which marks a 52-week closing high for the S&P 500, also acted as a source of resistance in the early going.

Investors turned cautious Monday ahead of the Federal Reserve's meeting on interest rates.

Major stock indexes closed narrowly mixed after trading lower for most of the day. An analyst upgrade of Wal-Mart Stores Inc. helped lift the Dow Jones industrial average by about 18 points to its fifth straight gain.

Investors will be looking to the Fed's statement that follows its meeting Tuesday for clues about the economic recovery and the central bank's plans for interest rates. Policymakers are almost certain to keep the Fed's benchmark rate unchanged at near zero.

The NYSE DOW closed HIGHER +17.46 points +0.16% on Monday March 15
Sym. Last......... ........Change..........
Dow 10,642.15 +17.46 +0.16%
Nasdaq 2,362.21 -5.45 -0.23%
S&P 500 1,150.51 +0.52 +0.05%
30-yr Bond 4.6360% +0.0300

NYSE Volume 4,703,120,500 (prior day 5,506,876,500)
Nasdaq Volume 1,912,510,120 (prior day 2,036,014,120)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,593.85 -31.80 -0.57%
DAX 5,903.56 -41.55 -0.70%
CAC 40 3,890.91 -36.49 -0.93%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,751.98 +0.72 +0.01%
Hang Seng 21,079.10 -130.64 -0.62%
Straits Times 2,874.33 -7.03 -0.24%

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

Stocks end mixed ahead of Fed's rate meeting

Stocks end narrowly mixed ahead of Federal Reserve meeting; upgrade of Wal-Mart lifts Dow

Tim Paradis, AP Business Writer, On Monday March 15, 2010, 6:11 pm

NEW YORK (AP) -- Investors turned cautious Monday ahead of the Federal Reserve's meeting on interest rates.

Major stock indexes closed narrowly mixed after trading lower for most of the day. An analyst upgrade of Wal-Mart Stores Inc. helped lift the Dow Jones industrial average by about 18 points to its fifth straight gain.

Investors will be looking to the Fed's statement that follows its meeting Tuesday for clues about the economic recovery and the central bank's plans for interest rates. Policymakers are almost certain to keep the Fed's benchmark rate unchanged at near zero.

While investors have been factoring in an eventual rate hike, any signs that the move will be made sooner rather than later could hurt stocks.

"The market is hoping that they will give us some sort of timeline as to when they will begin tightening monetary policy. I don't think that's very likely," said Scot Johnson, senior client portfolio manager with Invesco Fixed Income in Houston.

The market's cautious tone gave a boost to safe investments like the dollar. Its advance drove down energy prices and, in turn, shares of energy companies.

Some of Monday's selling came in response to economic developments in China. Statements from Chinese officials about the nation's currency fed new concerns that China's efforts to slow its economy and curb inflation would hurt a global recovery.

The Dow rose 17.46, or 0.2 percent, to 10,642.15, its highest close since Jan. 19. It was the Dow's 10th advance in 12 trading days.

The Standard & Poor's 500 index rose 0.52, or 0.1 percent, to 1,150.51. The index is at its highest level since Oct. 1, 2008.

The technology-dominated Nasdaq composite index fell 5.45, or 0.2 percent, to 2,362.21.

Bond prices moved in a tight range before the Fed meeting. The yield on the benchmark 10-year Treasury note, which moves opposite its price, was unchanged at 3.70 percent from late Friday.

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

Crude oil fell $1.44 to settle at $79.80 per barrel on the New York Mercantile Exchange. A stronger dollar makes energy prices more expensive to foreign buyers. That, in turn, reduces demand and hits prices.

Trading began on a down note after credit ratings agency Moody's said that debt loads are stretched in the U.S. and Britain. The countries carry the top "AAA" rating. And a drop in the rating would make it more expensive for the government to borrow money.

In economic news, a report showed that manufacturing activity in New York has slowed less than expected in March. The Empire State manufacturing index fell to 22.9 from 24.9 in February. Economists had predicted a drop to 21.5.

A separate report found that industrial production unexpectedly rose in February. The Fed said output from the nation's factories, mines and utilities rose 0.1 percent, while economists polled by Thomson Reuters had forecast a drop in activity. It was the eighth consecutive month of growth, showing the industry is recovering from the recession.

Investors sold financial stocks ahead of an afternoon proposal from Sen. Chris Dodd to overhaul financial regulations. Dodd is a Democrat from Connecticut and chairman of the Senate Banking Committee. Financial shares pulled off their lows after the plan was announced but still ended the day with losses.

The bill would boost the government's ability to dismantle big financial companies whose collapse could threaten the economy. It also would require that the industry pay for its failures. The plan also would have the Fed write rules over consumer lending.

Shares of Citigroup Inc. fell 8 cents, or 2 percent, to $3.89. Goldman Sachs Group Inc. fell $1.43, or 0.8 percent, to $173.53.

Energy stocks fell after oil dropped. Exxon Mobil Corp. fell 50 cents to $66.30. Chevron Corp. slipped 15 cents to $73.57.

The broader questions about the speed of the recovery made safer stocks more attractive. Consumer staples stocks rose. Procter & Gamble Co., whose brands include Tide detergent and Gillette razors, rose 38 cents to $63.70.

Wal-Mart rose $1.52, or 2.8 percent, to $55.42 after a Citi Investment Research analyst said the retailer looks like it will cut prices on food, one of the lowest-margin segments in retailing. Wal-Mart is competing with the supermarket companies for market share.

Tech stocks fell on news reports that Google Inc. could soon shut its Internet search operations in China because of disagreements with Chinese officials about censorship. Google fell $16.36, or 2.8 percent, to $563.18.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 4.2 billion shares, compared with 4.9 billion Friday.

The Russell 2000 index of smaller companies fell 2.18, or 0.3 percent, to 674.41.

Britain's FTSE 100 fell 0.6 percent, Germany's DAX index fell 0.7 percent, and France's CAC-40 lost 0.9 percent. Japan's Nikkei stock average rose less than 0.1 percent.

 

[bigdog]

Source: http://finance.yahoo.com

A lack of surprises in the latest FOMC policy statement prompted participants to push stocks to fresh 52-week highs. The advance was broad based with advancing issues outnumbering decliners by 4-to-1 in the S&P 500.

Given the potential impact of the latest FOMC policy statement, market participants were inclined to ignore early economic data. Among the reports, annualized housing starts for February hit a higher-than-expected rate of 575,000 and building permits for February made a smaller-than-expected dip to an annualized rate of 612,000. Meanwhile, import prices made a slightly steeper-than-expected 0.3% monthly dip in February.

The Federal Reserve's mildly upbeat take on the economy and its plans to hold interest rates low gave stocks a lift.

The Dow Jones industrial average rose almost 44 points Tuesday for its sixth straight gain. Broader indexes also posted bigger advances. Prices for Treasurys rose as the Fed said again that it expects to keep interest rates low for "an extended period."

The Fed also said in a statement following its meeting on monetary policy that businesses are spending "significantly" more on equipment and software. The central bank said that employment is stabilizing. That's a brighter assessment of the job market than at its last meeting in late January. Still, the Fed noted that employers remain reluctant to hire.

The NYSE DOW closed HIGHER +43.83 points +0.41% on Tuesday March 16
Sym. Last......... ........Change..........
Dow 10,685.98 +43.83 +0.41%
Nasdaq 2,378.01 +15.80 +0.67%
S&P 500 1,159.46 +8.95 +0.78%
30-yr Bond 4.5930% -0.4300

NYSE Volume 4,985,292,000 (prior day 4,703,120,500)
Nasdaq Volume 2,153,222,750 (prior day 1,912,510,120)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,620.43 +26.58 +0.48%
DAX 5,970.99 +67.43 +1.14%
CAC 40 3,938.95 +48.04 +1.23%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,721.71 -30.27 -0.28%
Hang Seng 21,022.93 -56.17 -0.27%
Straits Times 2,896.43 +22.10 +0.77%

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

Stocks rise after Fed pledges to keep rates low

Stocks climb after Federal Reserve offers modestly more upbeat assessment of the economy

Tim Paradis, AP Business Writer, On Tuesday March 16, 2010, 5:59 pm

NEW YORK (AP) -- The Federal Reserve's mildly upbeat take on the economy and its plans to hold interest rates low gave stocks a lift.

The Dow Jones industrial average rose almost 44 points Tuesday for its sixth straight gain. Broader indexes also posted bigger advances. Prices for Treasurys rose as the Fed said again that it expects to keep interest rates low for "an extended period."

The Fed also said in a statement following its meeting on monetary policy that businesses are spending "significantly" more on equipment and software. The central bank said that employment is stabilizing. That's a brighter assessment of the job market than at its last meeting in late January. Still, the Fed noted that employers remain reluctant to hire.

"That's a major statement. That's saying that that's one major risk that's going to remain for a while," said Guy LeBas, chief fixed income strategist of Janney Montgomery Scott in Philadelphia, referring to cautious employers.

Many investors appear relieved that the Fed will hold rates low to help the economy recover. As the economy improves, the Fed will need to start raising rates to stop prices from rising too fast. For now, though, the Fed repeated its belief that inflation is likely to remain subdued.

The Fed's statement hurt the dollar, which draws support from higher rates. The central bank's assessment of the economy also lessened investors' need to find safe places like the dollar to invest in.

The dollar's slide, in turn, raised commodity prices and the stocks of energy and materials companies.

The Fed also said it still plans to stop buying mortgage-backed securities from Fannie Mae and Freddie Mac at the end of the month. Policymakers also noted that construction of homes has been little changed and remains weak.

"We are passing through a historic phase where the Fed's emergency responses to the Great Recession are now behind us and we're incrementally getting back to business as usual," said Robert Dye, senior economist at PNC Financial Services Group in Pittsburgh.

Stocks rose in morning trading after the Standard & Poor's credit rating agency signed off on Greece's plan to slash its budget deficit. That eased concerns that the country will default on debt, and that its problems might hurt the economies of other European nations. The 16 countries that share the euro agreed to help Greece with loans if necessary.

The Dow rose 43.83, or 0.4 percent, to 10,685.98. It's up 1.3 percent in the past six days and stands at its highest level since Jan. 19.

The Standard & Poor's 500 index rose 8.95, or 0.8 percent, to 1,159.46, its highest close since October 2008.

The Nasdaq composite index rose 15.80, or 0.7 percent, to 2,378.01. The Nasdaq is at its highest level since August 2008.

The stock market has been recording steady gains for more than a month. Investors are looking for signs that the recovery is strong enough to justify the recent climb as well as the steep rebound in stocks in the past 12 months.

Dan Dolan, director of Wealth Management Strategies at Select Sector SPDRs in Garden City, N.Y., said the small moves higher are a sign that investors aren't getting overconfident.

"On the margin these little slow movements are constructive. There is still a lot of doubt in the market, which probably is a good thing."

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.66 percent from 3.70 percent late Monday.

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

Crude oil rose $1.90 to $81.70 per barrel on the New York Mercantile Exchange as the dollar fell. A weaker dollar makes commodities less expensive to foreign buyers.

The Fed's decision on mortgage buying came as investors saw new evidence that housing remains weak. The Commerce Department said Tuesday that construction of homes fell 5.9 percent last month to a seasonally adjusted annual rate of 575,000 units. That was slightly better than the rate of 570,000 units economists polled by Thomson Reuters predicted.

January activity was revised higher to a pace of 622,000 units, the best showing in 14 months. But applications for new permits fell 1.6 percent. They are considered a good indicator of future activity.

General Electric Co. gave a boost to the Dow after the company said it would increase its dividend in 2011. The conglomerate cut its payout two years ago as the recession pounded the company's financial arm. GE shares rose 78 cents, or 4.5 percent, to $18.07.

Among energy and materials stocks, Peabody Energy Corp. rose $1.65, or 3.5 percent, to $48.81, while United States Steel Corp. rose $1.80, or 3 percent, to $62.49.

More than two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume rose to 4.5 billion shares from 4.2 billion Monday.

The Russell 2000 index of smaller companies rose 5.17, or 0.8 percent, to 679.58.

Stocks rose in Europe after concern about Greece's financial woes ebbed. Britain's FTSE 100 rose 0.8 percent, Germany's DAX index rose 1.4 percent, and France's CAC-40 rose 1.5 percent. In Asia, Japan's Nikkei stock average fell 0.3 percent.

 

[marketsurfer]

The daily double top on the DJIA looks like its holding??!!

 

[bigdog]

Source: http://finance.yahoo.com

The stock market moved higher for the third straight session; a fresh 52-week high was set along the way. Though the latest advance was broad based, the stock market surrendered part of its gain after an encounter with near-term technical resistance.

Momentum from recent advances carried over into early action and positioned stocks to extend their gains. The upward trend only seems to have begotten more buying.

A positive bias among broader market participants has taken volatility down considerably. As such, the Volatility Index dropped to a 22-month low. It closed down 5.0%.

The stock market has a new formula for success: a slow and steady trek higher.

The Dow Jones industrial average rose 48 points Wednesday in its seventh straight advance to close at a new high for 2010. The gain means the Dow has joined the Standard & Poor's 500 index and Nasdaq composite index in reaching the best levels since 2008.

Stocks reached the new highs by climbing almost in stealth mode. The Dow is up 825 points in about five weeks but the gains haven't come in the 100-point pops that were common during much of the market's climb in the past 12 months. There have only been a few of those big days in recent weeks. Most of the increase has come from gains that don't make headlines, like 45 points, or 10.

The NYSE DOW closed HIGHER +47.69 points +0.45% on Wednesday March 17
Sym. Last......... ........Change..........
Dow 10,733.67 +47.69 +0.45%
Nasdaq 2,389.09 +11.08 +0.47%
S&P 500 1,166.21 +6.75 +0.58%
30-yr Bond 4.5720% -0.2100

NYSE Volume 5,581,424,500 (prior day 4,985,292,000)
Nasdaq Volume 2,227,270,500 (prior day 2,153,222,750)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,644.63 +24.20 +0.43%
DAX 6,024.28 +53.29 +0.89%
CAC 40 3,957.89 +18.94 +0.48%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,846.98 +125.27 +1.17%
Hang Seng 21,384.49 +361.56 +1.72%
Straits Times 2,919.30 +22.87 +0.79%

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=4&asset=&ccode=

Stocks climb after Fed pledges to hold rates low

Stocks rise after Fed says interest rates will stay low; Inflation report boosts confidence

Tim Paradis, AP Business Writer, On Wednesday March 17, 2010, 6:10 pm EDT

NEW YORK (AP) -- The stock market has a new formula for success: a slow and steady trek higher.

The Dow Jones industrial average rose 48 points Wednesday in its seventh straight advance to close at a new high for 2010. The gain means the Dow has joined the Standard & Poor's 500 index and Nasdaq composite index in reaching the best levels since 2008.

Stocks reached the new highs by climbing almost in stealth mode. The Dow is up 825 points in about five weeks but the gains haven't come in the 100-point pops that were common during much of the market's climb in the past 12 months. There have only been a few of those big days in recent weeks. Most of the increase has come from gains that don't make headlines, like 45 points, or 10.

The gains could always unravel but it makes for a more sustainable climb when investors mostly nibble at stocks.

"Boring is the new sexy," said Neil Menard, principal at Steben & Co. in Rockville, Md.

The advance is occurring in part because investors' list of worries isn't growing. There are still big problems like unemployment and government deficits but they're not new. And some worries are easing. Greece is taking steps to tackle its debt problems, for example. There had been fear its problems would spoil a global recovery.

The catalyst for this latest increase was the Fed's decision Tuesday to hold its key lending rate at a record low of essentially zero. A government report that prices at the wholesale level fell by the biggest amount in seven months boosted investors' belief that inflation is being contained.

It's clear from the market's climb that investors are feeling more upbeat. Since Feb. 8, the Dow is up 8.3 percent. That's a big gain that might ordinarily take a year to accomplish. But the Dow had slumped 7.6 percent in the month before that, so a rebound isn't surprising.

What's more important is the way the market is climbing: in almost a stairstep pattern. The Dow hasn't swung by more than 100 points in 12 of the past 14 trading days.

The more modest advances signal to some analysts that investors aren't getting overconfident.

"This market is behaving just the way you like to see," said James Meyer, chief investment officer at Tower Bridge Advisors in Conshohocken, Pa.

On Wednesday, the Dow rose 47.69, or 0.5 percent, to 10,733.67. The Dow topped its earlier high for 2010 of 10,725.43 from Jan. 19. It is at its highest point since Oct. 1, 2008. The seven-day streak of gains is its longest since August.

The S&P 500 index rose 6.75, or 0.6 percent, to 1,166.21. That's the highest close since Sept. 30, 2008.

The Nasdaq rose 11.08, or 0.5 percent, to 2,389.09, its best level since Aug. 28, 2008.

Bond prices were mixed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.64 percent from 3.66 percent late Tuesday.

The big question for investors is whether the climb can hold. Analysts say some of the apprehension about the economy is keeping the market in check.

Investors are signaling that they expect the economy to strengthen by where they are placing their money. Since last month, the best-performing stocks have been in the basic materials, consumer durables, financial and transportation industries. These tend to do best in stronger economies.

The laggards have been safer businesses that investors flock to during recessions: consumer staples, utilities, telecommunications and health care.

The market will need a steady stream of good news for the advances to continue. The latest gain came after the Labor Department's Producer Price Index fell 0.6 percent in February. Economists polled by Thomson Reuters forecast a drop of 0.2 percent. Fed poliycmakers will be able to hold interest rates lower if they don't have to worry about inflation for now.

David Chalupnik, head of equities at First American Funds, said that the market is likely to climb for the next six weeks as expectations build for corporate earnings for the January-March quarter. As the results come out, investors could start to sell some stocks that posted strong gains ahead of the reports.

But some analysts warn that the recent climb is a sign that investors are letting their guard down.

The Chicago Board Options Exchange's Volatility Index, which is known as the market's fear gauge, on Wednesday fell below 17 for the first time since January. That means there are fewer investors predicting big drops in the market. The VIX was last this low before stocks began a three-week slide.

Axel Merk, portfolio manager at Merk Funds, warned that simultaneous gains in assets from stocks to commodities and even real estate signal that investors are investing indiscriminately.

"That's the clearest bubble indicator there is," he said.

In other trading, the dollar fell against other major currencies. Gold prices rose.

Crude oil rose $1.23 to settle at $82.93 per barrel on the New York Mercantile Exchange.

More than two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5 billion shares, compared with 4.5 billion Tuesday.

The Russell 2000 index of smaller companies rose 4.40, or 0.7 percent, to 683.98.

Britain's FTSE 100 gained 0.4 percent, Germany's DAX index rose 0.9 percent, and France's CAC-40 climbed 0.5 percent. Japan's Nikkei stock rose 1.2 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Action was choppy and lackluster this session, but the Dow still mustered enough support to make a fresh 52-week high. Meanwhile, the broader market muddled along with a moderate loss for most of the session before it managed to make a flat finish.

Support for blue chips helped drive the Dow to a moderate gain, which put it at its best level since October 2008. Advancing issues outnumbered decliners by 2-to-1 in the Dow. Caterpillar (CAT 59.77, -0.45) was a laggard in the group after it announced disappointing monthly sales metrics for February.

Major stock indexes ended mixed Thursday on more evidence that the economy is regaining strength at a slow pace.

The Dow Jones industrial average rose for an eighth straight day, its longest unbroken climb since August. The Dow gained 46 points while broader indexes were little changed.

Reports indicated that inflation remains in check and manufacturing is growing. The government said, however, that first-time claims for unemployment benefits only inched lower.

The NYSE DOW closed HIGHER +45.50 points +0.42% on Thursday March 18
Sym. Last......... ........Change..........
Dow 10,779.17 +45.50 +0.42%
Nasdaq 2,391.28 +2.19 +0.09%
S&P 500 1,165.82 -0.39 -0.03%
30-yr Bond 4.5890% +0.1700

NYSE Volume 4,780,323,000 (prior day 5,581,424,500)
Nasdaq Volume 2,091,388,620 (prior day 2,227,270,500)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,642.62 -2.01 -0.04%
DAX 6,012.31 -11.97 -0.20%
CAC 40 3,938.18 -19.71 -0.50%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,744.03 -102.95 -0.95%
Hang Seng 21,330.67 -53.82 -0.25%
Straits Times 2,913.94 -5.36 -0.18%

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

Stocks end mixed after price, jobs reports

Stocks close mixed after reports on inflation, jobs, leading economic indicators; Dow adds 46

Stephen Bernard and Tim Paradis, AP Business Writers, On Thursday March 18, 2010, 6:03 pm

NEW YORK (AP) -- Major stock indexes ended mixed Thursday on more evidence that the economy is regaining strength at a slow pace.

The Dow Jones industrial average rose for an eighth straight day, its longest unbroken climb since August. The Dow gained 46 points while broader indexes were little changed.

Reports indicated that inflation remains in check and manufacturing is growing. The government said, however, that first-time claims for unemployment benefits only inched lower.

The Labor Department said its Consumer Price Index was unchanged in February and that initial jobless claims fell last week. Meanwhile, the Philadelphia Federal Reserve said manufacturing in its region increased this month. The Conference Board, a private research group, said its index of leading indicators rose at a slow pace last month.

"The market has been grinding higher on what has been benignly positive news," said Alan Gayle, senior investment strategist for RidgeWorth Investments. "There is a growing sense the economy is plodding along in the right direction."

Renewed concern about economic troubles in Greece kept the gains in check. The country said it might turn to the International Monetary Fund for support if European leaders can't agree to a bailout plan next week.

Stocks have been in a steady climb for about five weeks as economic reports signal the economy is seeing modest improvement.

The Dow rose 45.50, or 0.4 percent, to 10,779.17. That marks the highest close since Oct. 1, 2008. The Dow last rose for eight straight days in the period ended Aug. 27.

The broader Standard & Poor's 500 index slipped 0.38, or less than 0.1 percent, to 1,165.83, while the Nasdaq composite index rose 2.19, or 0.1 percent, to 2,391.28.

Bond prices fell and yields rose following the economic reports. The yield on the benchmark 10-year Treasury note rose to 3.68 percent from 3.64 percent late Wednesday.

The dollar rose against other major currencies. Gold rose.

Crude oil fell 73 cents to settle at $82.20 per barrel on the New York Mercantile Exchange.

The Labor Department's Consumer Price Index was flat. Excluding volatile energy and food prices, it rose 0.1 percent. Economists polled by Thomson Reuters forecast an increase of 0.1 percent in both measures of inflation. On Wednesday, the government said that wholesale prices barely rose in February.

The Federal Reserve repeated this week that it expects inflation to remain low. That would allow the central bank to keep interest rates low to help revive lending and boost the economy.

The Labor Department said that initial jobless claims fell by 5,000 to a seasonally adjusted 457,000 last week. Although the drop was short of expectations, it was the third straight weekly slide. A four-week average of claims is up by 30,000 since the beginning of the year.

Initial claims have hovered around 450,000 in recent weeks, which Gayle called a "tipping point" between employers adding or cutting jobs.

Companies like 3M Co. got a boost from the Philadelphia Fed's report that manufacturing expanded in the Mid-Atlantic region for the seventh straight month in March. However, a drop in new orders signaled growth could slow.

The Conference Board's index of leading indicators rose 0.1 percent in February. That matched expectations but the increase in the gauge of future economic activity was the smallest in 11 months.

The concerns about Greece brought a reminder that the calm can be interrupted.

"That's why you're seeing a little bit of resistance," said Greg Merlino, president of Ameriway Financial Services. "Whenever we hear Greece, we get this knee-jerk reaction, is this the first domino to fall?"

Improved earnings reports gave the market some support.

FedEx Corp. said its fiscal third-quarter profit more than doubled. It also raised its full-year earnings forecast, which is now in line with analysts' expectations.

FedEx is considered a measure for the health of the overall economy because of the variety of products it ships. The stock rose $2.87, or 3.2 percent, to $92.67.

3M rose $1.49, or 1.8 percent, to $83.67.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume fell to 4.3 billion shares from 5 billion Wednesday.

The Russell 2000 index of smaller companies fell 2.37, or 0.4 percent, to 681.61.

Overseas, Britain's FTSE 100 fell less than 0.1 percent, Germany's DAX index dropped 0.2 percent, and France's CAC-40 fell 0.5 percent. Japan's Nikkei stock average fell 1 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow Jones industrial average closed the week up 117.29 points, or 1.1 percent, at 10,741.98. The Standard & Poor's 500 index rose 9.91, or 0.9 percent, to 1,159.90. The Nasdaq composite index rose 6.75, or 0.3 percent, to 2,374.41.


Stocks halted their steady climb Friday after renewed concerns about Greece's ability to pay its debts left investors questioning a global economic recovery.

Stocks fell to profit taking as a lack of positive catalysts and a stronger dollar kept many buyers at bay, while volume and volatility spiked with quadruple witching.

Heading into Friday's trade the stock market had gained more than 5% since the start of the month. The climb started to steady in the prior session as stocks in the broader market moved sideways to consolidate their recent string of gains. The flat trade was regarded by several as a sign that stocks may have become tired after their run and additional advances in the near term may be harder to come by. In turn, a broad-based selling effort hit stocks for their worst session of this month.

The Dow Jones industrial average fell 37 points after advancing for eight straight days. Broader indexes also fell. Major indexes posted gains for the week.

Greece said it might need to turn to the International Monetary Fund for support if European leaders can't agree on a bailout plan next week. Worries about the country's ability to handle its massive debt load have set off periodic bouts of stock selling in the U.S. and overseas over the past two months.

The NYSE DOW closed LOWER -37.19 points -0.35% on Friday March 19
Sym. Last......... ........Change..........
Dow 10,741.98 -37.19 -0.35%
Nasdaq 2,374.41 -16.87 -0.71%
S&P 500 1,159.90 -5.92 -0.51%
30-yr Bond 4.5790% -0.1000

NYSE Volume 6,429,387,500 (prior day 4,780,323,000)
Nasdaq Volume 3,018,787,250 (prior day 2,091,388,620)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,650.12 +7.50 +0.13%
DAX 5,982.43 -29.88 -0.50%
CAC 40 3,925.44 -12.74 -0.32%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,824.72 +80.69 +0.75%
Hang Seng 21,370.82 +40.15 +0.19%
Straits Times 2,915.70 +1.76 +0.06%

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

Stocks fall as worries about Greek debt return

Stocks interrupt winning streak after concern about Greece's debt problems return to market

Tim Paradis, AP Business Writers, On Friday March 19, 2010, 6:10 pm EDT
NEW YORK (AP) -- Stocks halted their steady climb Friday after renewed concerns about Greece's ability to pay its debts left investors questioning a global economic recovery.

The Dow Jones industrial average fell 37 points after advancing for eight straight days. Broader indexes also fell. Major indexes posted gains for the week.

Greece said it might need to turn to the International Monetary Fund for support if European leaders can't agree on a bailout plan next week. Worries about the country's ability to handle its massive debt load have set off periodic bouts of stock selling in the U.S. and overseas over the past two months.

Investors also were cautious after India's central bank raised interest rates to combat rising prices. That prompted concern that central banks in other countries would follow suit. Reports in the U.S. during the week signaled that inflation is minimal.

The news out of Greece and India chilled an advance in U.S. stocks that grew out of rising optimism about a recovery.

"The economic data so far continues to be friendly, but there are a lot of concerns out there," said Peter Cardillo, chief market economist at the brokerage Avalon Partners Inc. in New York. "The Greek situation is affecting the dollar."

The dollar, regaining its appeal as a safe investment, rose against the euro and other currencies. Concerns remain that debt problems could spill over to other weak European countries like Spain and Portugal, Cardillo said.

Stocks in the U.S. have been rising since a January-February slump. Investors are encouraged that the economy is getting better, even if it's at a slow pace. The modest improvements have translated into a stock market that creeps higher rather than leaps as it did last year. Still, even with incremental gains some analysts warn that the market needs some pullbacks to avoid getting overheated.

The Dow fell 37.19, or 0.3 percent, to 10,741.98. The Standard & Poor's 500 index fell 5.93, or 0.5 percent, to 1,159.90. The Nasdaq composite index fell 16.87, or 0.7 percent, to 2,374.41.

The Dow on Thursday closed at its highest level since Oct. 1, 2008. Broader indexes are in a similar range so the retreat Friday wasn't surprising. Many traders like to sell some of their stronger holdings when the market pushes to new highs.

Three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 5.67 billion shares, compared with 4.26 billion Thursday. Volume was heavy Friday in part because of the quarterly expiration of four kinds options and futures contracts.

For the week, the Dow rose 1.1 percent, the S&P 500 index advanced 0.9 percent and the Nasdaq rose 0.3 percent.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 3.70 percent from 3.68 percent late Thursday.

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

Crude oil fell $1.52 to settle at $80.68 per barrel on the New York Mercantile Exchange as the dollar rose. The stronger dollar made commodities more expensive to foreign buyers. That hurt demand.

A planned House vote Sunday on a proposed health care overhaul also made investors more uncertain, though many health stocks rose.

Stephen Lieber, chief investment officer at Alpine Woods Investments in Purchase, N.Y., said investors were trying to determine what might occur over the weekend and whether the Senate would vote on a version of the bill next week without making major changes.

"We're floating around in a big question mark," he said.

Among health stocks, UnitedHealth Group Inc. rose 80 cents, or 2.4 percent, to $34.39, while Cigna Corp. rose $1.24, or 3.5 percent, to $37.08.

In other trading, Palm Inc. tumbled after reporting a wider-than-expected quarterly loss late Thursday. The maker of handheld devices also forecast revenue for the current quarter that was less than half of what analysts had predicted. Competition from iPhones and BlackBerrys is hurting the company's business. The stock fell $1.65, or 29.2 percent, to $4.

The market's moves and low volume during the week pointed to investors' continuing caution as they try to assess the strength of the economic recovery.

Stocks edged higher Monday and posted bigger gains Tuesday after the Fed left its benchmark interest rate at a record low, as expected. Policymakers said rates would remain low because inflation was in check. The central bank also said there was modest improvement in the job market and that businesses were spending more on equipment and software.

Inflation figures on Wednesday and Thursday confirmed the Fed's assessment that prices are under control.

The coming week brings reports on sales of new and existing homes and orders for big-ticket manufactured items. Investors have been able in recent weeks to shrug off disappointing housing stats. However, they might become nervous if the numbers start looking overly weak.

The Russell 2000 index of smaller companies fell 7.72, or 1.1 percent, to 673.89.

Overseas, Britain's FTSE 100 rose 0.1 percent, Germany's DAX index fell 0.5 percent, and France's CAC-40 lost 0.3 percent. Japan's Nikkei stock average rose 0.8 percent.

The Dow Jones industrial average closed the week up 117.29 points, or 1.1 percent, at 10,741.98. The Standard & Poor's 500 index rose 9.91, or 0.9 percent, to 1,159.90. The Nasdaq composite index rose 6.75, or 0.3 percent, to 2,374.41.

The Russell 2000 index, which tracks the performance of small company stocks, fell 2.70, or 0.3 percent, for the week to 673.89.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 11,993.67, up 77.16, or 0.6 percent.

5569

 

[bigdog]

Source: http://finance.yahoo.com

The stock market finished the day with solid gains as the Nasdaq provided clear leadership throughout the session, bolstered by strength in semiconductor stocks. The stock market didn't get off to a great start, however, beginning the session with moderate losses. Before the market opened, investors and traders had two major news events to take in -- one domestic, and one overseas. On the home-front, the House of Representatives passed healthcare reform last night by a vote of 219-212. The news lifted a long standing overhang on healthcare stocks, which were strong all day. In particular, hospital stocks like Community Health Systems (CYH 40.51 +2.35) and Tenet Healthcare (THC 6.27 +0.52) put in impressive gains.

Internationally, German Chancellor, Angela Merkel, made waves by saying that Greece doesn't need financial support, and that European Union leaders shouldn't make the question of aid for Greece the focus of their summit later in the week. She believes that Greece should solve its own debt problems despite other European policy makers urging Germany to back support for Greece. These comments underscored the latest signs of divisions within the euro-zone countries on how best to provide help to Greece.

Drug and hospital companies led stocks higher Monday after House lawmakers ended months of uncertainty and approved the health care overhaul bill.

The Dow Jones industrial average rose about 44 points. Broader indexes also climbed.

Investors had expected the health care bill would pass the House, but the approval late Sunday removed some of the anxiety that has dogged stocks of hospitals and drug makers. A bill with changes made by the House now goes back to the Senate for approval. Debate could begin Tuesday.

The NYSE DOW closed HIGHER +43.91 points +0.41% on Monday March 22
Sym. Last......... ........Change..........
Dow 10,785.89 +43.91 +0.41%
Nasdaq 2,395.40 +20.99 +0.88%
S&P 500 1,165.81 +5.91 +0.51%
30-yr Bond 4.5690% -0.1000

NYSE Volume 4,886,284,000 (prior day 6,429,387,500)
Nasdaq Volume 2,329,286,750 (prior day 3,018,787,250)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,644.54 -5.58 -0.10%
DAX 5,987.50 +5.07 +0.08%
CAC 40 3,928.00 +2.56 +0.07%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,824.72 closed for holiday
Hang Seng 20,933.25 -437.57 -2.05%
Straits Times 2,889.18 -26.52 -0.91%

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

Health care companies pull stock market higher

Stocks rise after advance in health companies; Insurers, drug makers lead broad advance

Stephen Bernard and Tim Paradis, AP Business Writers, On Monday March 22, 2010, 5:47 pm

NEW YORK (AP) -- Drug and hospital companies led stocks higher Monday after House lawmakers ended months of uncertainty and approved the health care overhaul bill.

The Dow Jones industrial average rose about 44 points. Broader indexes also climbed.

Investors had expected the health care bill would pass the House, but the approval late Sunday removed some of the anxiety that has dogged stocks of hospitals and drug makers. A bill with changes made by the House now goes back to the Senate for approval. Debate could begin Tuesday.

The 10-year, $938 billion bill will extend benefits to 32 million uninsured Americans. That will have far-reaching effects on health companies. With the bill in hand, investors could place bets on winners and losers. Hospital stocks rose on expectations they would see more business and increased revenue. Some insurers fell because of greater restrictions imposed by the changes.

Many key points of the bill will not take effect for several years, though others like provisions allowing children to remain on their parents' insurance until age 26 will kick in this year.

Hospital operator Tenet Healthcare Corp. rose 9 percent, while insurer UnitedHealth Group Inc. fell 3.2 percent.

"You've got some uncertainty here lifted," said Jack Ablin, chief investment officer at Harris Private Bank in Chicago. Ablin noted, however, that other industries will face higher costs to pay for wider coverage. "What it really comes down to is that as a result of this bill health care is a beneficiary at the expense of every other sector."

Stocks have been rising steadily in recent weeks as investors have grown more confident in a rebound following a string of improved economic reports. At the same time, much of the advance has come on light trading volume. That signals that not all the gains are tied to increasing expectations about the economy. Some analysts say that stocks are rising in a vacuum rather than because investors strongly believe that the market is poised to go higher.

The Dow rose 43.91, or 0.4 percent, to 10,785.89. It has risen 14 of the past 17 trading days and stands at its highest level since October 2008.

The Standard & Poor's 500 index rose 5.91, or 0.5 percent, to 1,165.81. The Nasdaq composite index rose 20.99, or 0.9 percent, to 2,395.40. It closed at a new high for the year and is at its best level since August 2008.

Bond prices rose, pushing down yields. The yield on the benchmark 10-year Treasury note fell to 3.66 percent from 3.70 percent late Friday.

The dollar fell against other major currencies. Gold fell.

Crude oil rose 57 cents to $81.25 per barrel on the New York Mercantile Exchange.

Stock fell Friday because of renewed concerns about budget problems in Greece. More questions about Greece hurt stocks early Monday. The country's debt woes have dragged down global stock markets on and off for nearly two months as the country tries to cut its budget deficit.

Investors have been worried that Greece and other European nations that use the euro, like Spain and Portugal, could struggle to recover as they try to pay down debt. That could upend a global economic recovery.

Questions about Greece arose again when Germany's chancellor said Sunday that a bailout for Greece won't be discussed at a European summit this week. But concern eased after European Central Bank President Jean-Claude Trichet said Monday that Greece wouldn't be able to dump the euro as its currency.

Meanwhile, retailers signaled that affluent consumers are stepping up spending. Jeweler Tiffany & Co.'s fourth-quarter profit quadrupled though earnings fell short of analysts' forecasts.

Williams-Sonoma Inc. said increased revenue boosted profits by more than sevenfold from a year ago, when one-time costs dented results. The seller of kitchen goods forecast stronger results for its current fiscal quarter.

The improvement in sales is a welcome sign for the economy as the end of the January-March quarter approaches.

Richard E. Cripps, chief market strategist for Stifel Nicolaus in Baltimore, is encouraged that expectations are growing for first-quarter profits. Corporate earnings are the biggest driver of the stock market.

"More analysts than not are choosing to increase their estimates and that's a good thing," Cripps said.

Tiffany rose 16 cents to $47.41, while Williams-Sonoma advanced $2.96, or 12.3 percent, to $27.10.

Google Inc. fell $2.50, or 0.5 percent, to $557.50 after the company stopped censoring the Internet in China by moving its search engine off the mainland. Visitors to Google's China service were redirected to Google's Chinese-language service based in Hong Kong.

Among health stocks, Tenet rose 52 cents, or 9 percent, to $6.27, while drug maker Pfizer Inc. rose 24 cents to $17.15.

UnitedHealth fell $1.09, or 3.2 percent, to $33.30.

Two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.3 billion shares, compared with 5.7 billion Friday. Trading was heavy Friday because of the expiration of options and futures contracts.

The Russell 2000 index of smaller companies rose 9.02, or 1.3 percent, to 682.91.

Britain's FTSE 100 fell 0.1 percent, Germany's DAX index and France's CAC-40 each rose 0.1 percent. Markets in Japan were closed for a holiday.

 

[bigdog]

Source: http://finance.yahoo.com

The long and short of things Tuesday is that the stock market remained biased toward the long side. There were half-hearted attempts to drive the market lower, but as soon as they started, it wasn't long before they were snuffed out with renewed buying interest.

For the most part, the session progressed on an unventful note. The major averages held to narrow trading ranges, sporting modest gains for a good part of the day thanks to the relative strength exhibited by the industrial (+1.1%) and semiconductor (+2.3%) sectors. However, there was a late-day breakout when the S&P 500 cleared last week's high of 1169.84.

Dow gains 103 points to extend market rally; traders afraid of missing gains step in to market

Investors are starting to believe that the stock market is on the verge of another big rally.

The Dow Jones industrials rose almost 103 points Tuesday, their biggest gain in more than two weeks. The day's economic news was tepid as the National Association of Realtors reported a drop in homes sales last month that wasn't as steep as forecast. But analysts said many investors, after seeing the Dow at new highs for 2010, were afraid of missing out on further gains.

The report on housing was typical of recent economic numbers that have been somewhat better than expected but that still point to a weak economy. Sales of previously occupied homes fell 0.6 percent last month to an annual rate of 5.02 million. The drop was less than expected.

The NYSE DOW closed HIGHER +102.94 points +0.95% on Tuesday March 23
Sym. Last......... ........Change..........
Dow 10,888.83 +102.94 +0.95%
Nasdaq 2,415.24 +19.84 +0.83%
S&P 500 1,174.17 +8.36 +0.72%
30-yr Bond 4.5980% +0.2900

NYSE Volume 4,989,966,000 (prior day 4,886,284,000)
Nasdaq Volume 2,309,634,250 (prior day 2,329,286,750)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,673.63 +29.09 +0.52%
DAX 6,017.27 +29.77 +0.50%
CAC 40 3,952.55 +24.55 +0.63%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,774.15 -50.57 -0.47%
Hang Seng 20,987.78 +54.53 +0.26%
Straits Times 2,905.66 +16.48 +0.57%

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

Momentum carries stocks higher; Dow adds 103

Dow gains 103 points to extend market rally; traders afraid of missing gains step in to market

Tim Paradis, AP Business Writer, On Tuesday March 23, 2010, 5:32 pm
NEW YORK (AP) -- Investors are starting to believe that the stock market is on the verge of another big rally.

The Dow Jones industrials rose almost 103 points Tuesday, their biggest gain in more than two weeks. The day's economic news was tepid as the National Association of Realtors reported a drop in homes sales last month that wasn't as steep as forecast. But analysts said many investors, after seeing the Dow at new highs for 2010, were afraid of missing out on further gains.

The report on housing was typical of recent economic numbers that have been somewhat better than expected but that still point to a weak economy. Sales of previously occupied homes fell 0.6 percent last month to an annual rate of 5.02 million. The drop was less than expected.

For now, the sales numbers aren't hurting hopes that the economy can recover even if the housing market is still sluggish. The Commerce Department is expected to report new home sales for February on Wednesday. A month ago, investors shrugged off an 11.2 percent drop in that reading.

The market's continuing advance has been welcome but analysts are divided over whether stocks have run too far or if they have more to gain because of improvements in the economy. The recent gains have been mild in contrast to those of 2010 when triple-digit gains in the Dow were frequent as the index soared higher from a 12-year low.

Even many traders who have doubts about how solid the advance is, expect it to continue until something pops the optimistic mood.

"You can't deny the trend. Definitely the trend is higher," said Doreen Mogavero, president of brokerage Mogavero, Lee & Co. in New York. She said investors are optimistic about the health of corporate earnings for the January-March quarter.

"Things seem to be moving along in the right direction. So to that end I think people are feeling better."

But Mogavero is cautious because the advance has come on light trading volume, which signals that not many investors are willing to put money into the market.

The Dow rose 102.94, or 1 percent, to 10,888.83, its biggest point and percentage gain since March 5. The Dow has risen 10 of the past 11 days and is at its highest level since Sept. 26, 2008. It has risen 147 points, or 1.4 percent, in two days.

The Standard & Poor's 500 index rose 8.36, or 0.7 percent, to 1,174.17. It also stands at an 18-month high.

The Nasdaq composite index rose 19.84, or 0.8 percent, to 2,415.24, a 19-month high.

The rise in stocks sent bond prices lower and yields higher. The yield on the benchmark 10-year Treasury note rose to 3.69 percent from 3.66 percent late Monday.

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

Crude oil rose 31 cents to $81.91 per barrel on the New York Mercantile Exchange.

Stocks rose Monday after House lawmakers on Sunday approved a health care overhaul bill that will extend health insurance to 32 million Americans. Drug and hospital companies rose in part because of the prospect of increased demand.

Joe Saluzzi, co-head of equity trading at Themis Trading LLC, said the market has continued higher because traders are placing short-term bets, not because they believe stock prices are too low. That makes the advance difficult to justify, he said.

"Look at the daily charts. They just grind higher. We call it the sausage factory. At the end of the day it tastes great but nobody knows how it's made," Saluzzi said.

Traders showed little reaction Tuesday to Treasury Secretary Timothy Geithner's testimony before Congress about government efforts to overhaul mortgage financiers Fannie Mae and Freddie Mac. The pair, which were taken over by the government during the credit crisis, guarantee a majority of mortgages. The government's support has helped keep interest rates low as part of an effort to help the housing market recover.

Investors found some news about housing that they didn't like. Homebuilder KB Home fell 29 cents, or 1.7 percent, to $17.15 after its fiscal first quarter loss was wider than expected and revenue fell short of forecasts.

More than two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 985 million shares, compared with 954.3 million Monday.

The Russell 2000 index of smaller companies rose 7.39, or 1.1 percent, to 690.30.

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

 

[bigdog]

Source: http://finance.yahoo.com

Rekindled concerns regarding sovereign debt drove the dollar to its best single-session percentage gain since December, but moderate weakness mired the broader equity market for the entire session.

Distress about the fiscal health of the PIIGS contingent, which includes Portugal, Italy, Ireland, Greece, and Spain, returned to the forefront with news that analysts at Fitch trimmed Portugal's sovereign debt rating to AA- from AA. The announcement dropped the euro to a 10-month low against the dollar, but bolstered the Dollar Index, which closed trade with a near 1.4% gain at a new 10-month high.

The greenback's gain hampered stocks for the entire session. Weakness was also widespread among stocks, such that declining issues outnumbered advancers by more than 3-to-1 in the S&P 500.

Stocks drop after credit rating agency downgrades Portugal debt; Treasurys slide after auction

Major stock indexes fell from their 2010 highs Wednesday as weakness in the housing market and rising European debt loads revived investors' pessimistic view of the economy.

The Dow Jones industrial average fell about 53 points. It was only the Dow's second drop in 12 days. Broader stock indexes also slid.

Treasury prices tumbled after a government debt auction drew only modest demand for a second straight day. That raised concern that the government will have to pay more to attract buyers for its debt. Washington has been issuing record amounts of debt to help revive the economy.

The NYSE DOW closed LOWER -52.68 points -0.48% on Tuesday March 23
Sym. Last......... ........Change..........
Dow 10,836.15 -52.68 -0.48%
Nasdaq 2,398.76 -16.48 -0.68%
S&P 500 1,167.72 -6.45 -0.55%
30-yr Bond 4.7210% +1.2300

NYSE Volume 5,284,407,000 (prior day 4,989,966,000)
Nasdaq Volume 2,322,414,250 (prior day 2,309,634,250)

EuropeSymbol.... Last...... .....Change.......
FTSE 100 5,677.88 +4.25 +0.07%
DAX 6,039.00 +21.73 +0.36%
CAC 40 3,949.81 -2.74 -0.07%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,815.03 +40.88 +0.38%
Hang Seng 21,008.62 +20.84 +0.10%
Straits Times 2,886.36 -19.30 -0.66%

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

Stocks fall after agency cuts Portugal debt rating

Stocks drop after credit rating agency downgrades Portugal debt; Treasurys slide after auction

Stephen Bernard and Tim Paradis, AP Business Writers, On Wednesday March 24, 2010, 4:21 pm EDT

NEW YORK (AP) -- Major stock indexes fell from their 2010 highs Wednesday as weakness in the housing market and rising European debt loads revived investors' pessimistic view of the economy.

The Dow Jones industrial average fell about 53 points. It was only the Dow's second drop in 12 days. Broader stock indexes also slid.

Treasury prices tumbled after a government debt auction drew only modest demand for a second straight day. That raised concern that the government will have to pay more to attract buyers for its debt. Washington has been issuing record amounts of debt to help revive the economy.

The drop in stocks comes after Fitch Ratings lowered Portugal's credit rating. The rating agency said the country's recovery will be slower than others that use the euro. Fitch contends that could hurt Portugal's ability to repay its debt.

Debt problems in Europe have been one of the few drags on stocks in recent months. Rising debt in Greece, Portugal and other nations that use the euro have investors worried that troubles there could upend a nascent global recovery.

The dollar rose sharply against the euro and other major currencies. The dollar is at its highest level against the euro since May. The stronger dollar makes commodities more expensive to foreign buyers. That cuts into demand.

Stocks have been carving steady gains for more than a month as economic reports signal slow improvement in the economy. That has kept cautious traders from placing big bets on a rebound. Some analysts were already expecting a retreat because major stock indexes had touched new highs for the year.

Subodh Kumar, global investment strategist at Subodh Kumar & Assoc. in Toronto, said investors have been too quick to look past risks still facing the economy.

"There are quantitative issues that the markets have been ignoring," he said. "I believe that markets are somewhat extended."

According to preliminary calculations, the Dow fell 52.68, or 0.5 percent, to 10,836.15, a day after closing at its highest level since September 2008.

The Standard & Poor's 500 index dropped 6.45, or 0.6 percent, to 1,167.72. The index also closed Tuesday at its highest level in nearly 18 months.

The Nasdaq composite index fell 16.48, or 0.7 percent, to 2,398.76. On Tuesday, the index reached its best level in 19 months.

Bond prices dropped after an auction of $42 billion in five-year Treasury notes drew weak demand. The yield on the five-year note, which moves opposite price, rose to 2.59 percent from 2.42 percent.

The yield on the benchmark 10-year note rose to 3.84 percent from 3.69 percent late Tuesday.

An auction Tuesday of $44 billion in two-year notes also saw a drop in demand.

The drop in the stock market wasn't as steep as in Treasurys.

Robert Froehlich, senior managing director at Hartford Financial Services, said the slide in stocks wasn't worse because the financial problems in Portugal weren't totally surprising. Froehlich said the recent slow climb in the market signals that investors don't have strong opinions about which way the market is going.

"What's the next move of the Dow -- 12,000 or 8,000? No one is willing to make that big bet," he said.

In economic news, a Commerce Department report on new home sales showed the market is continuing to contract. Sales unexpectedly fell to the lowest level on record in February as bad winter weather kept buyers out of the market.

New home sales fell 2.2 percent last month to a seasonally adjusted annual sales pace of 308,000. Economists polled by Thomson Reuters had forecast sales would rise to 320,000.

The report comes a day after the National Association of Realtors said sales of existing homes fell last month. The drop wasn't as steep as forecast, however.

A recovery in housing has been uneven. Reports that beat even modest expectations have regularly been met with buying on Wall Street, such as Tuesday's big gains. The Dow jumped nearly 103 points, or 1 percent.

Investors brushed off a report on orders to factories for big-ticket manufactured goods that showed continued growth. Unlike the housing market, the manufacturing industry has shown steady improvement in recent months.

Durable goods orders -- items expected to last at least three years -- rose 0.5 percent last month, slightly below expectations for 0.7 percent growth. However, it was the third straight month orders rose, and excluding the volatile transportation sector, orders increased by more than expected.

Orders climbed 0.9 percent in February excluding aircraft and other transportation orders. Economists had forecast an increase of 0.6 percent.

The government's weekly jobless claims report could shape trading Thursday. High unemployment is seen as the biggest obstacle facing the economy.

In corporate news, homebuilder Lennar Corp. said its fiscal first-quarter loss narrowed. However, the company said it expects to return to profitability this year. Its shares rose 63 cents, or 3.7 percent, to $17.69.

Two stocks fell for every one that rose on the New York Stock Exchange, where volume came to 1 billion shares, compared with 985 million Tuesday.

Crude oil fell $1.30 to $80.61 per barrel on the New York Mercantile Exchange. Gold fell.

The Russell 2000 index of smaller companies fell 6.62, or 1 percent, to 683.68.

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

 

[bigdog]

: http://finance.yahoo.com

There were a handful of catalysts for trade this session, but ultimately it was a bounce by the greenback that sent stocks reeling from fresh 52-week highs.

The early mood among market participants was positive after it was learned that Dubai's government will give $9.5 billion in new funding to support the restructuring of Dubai World and developer Nakheel. Meanwhile, concerns about the fiscal health of Greece were allayed by word that the European Central Bank will alter rules on collateral and keep the credit threshold in its liquidity providing operations at BBB- beyond 2010. Such moves would assist Greece's efforts to borrow.

In the afternoon it was reported by Dow Jones that an aid package of 23 billion euros for Greece was discussed at a summit of European leaders. Reuters reported that the eurozone is ready to contribute bilateral loans to Greece and shoulder two-thirds of an aid package. The International Monetary Fund would take up the balance of such a package.

Stocks erase advance after doubt emerges about prospects for Greece bailout; Dow adds 5 points

Renewed concern about Greece's debt problems short-circuited the big stock market rally.

The Dow Jones industrial average closed Thursday with a gain of just 5 points after earlier rising to a new high for 2010. Broader indexes slipped.

The market's advance fizzled after European Central Bank's president Jean-Claude Trichet told French television that Europe must take responsibility for its financial problems. That raised concerns about when a rescue for Greece might come.

The NYSE DOW closed HIGHER +5.06 points +0.05% on Thursday March 24
Sym. Last......... ........Change..........
Dow 10,841.21 +5.06 +0.05%
Nasdaq 2,397.41 -1.35 -0.06%
S&P 500 1,165.73 -1.99 -0.17%
30-yr Bond 4.7770% +0.5600

NYSE Volume 6,453,712,000 (prior day 5,284,407,000)
Nasdaq Volume 2,596,896,500 (prior day 2,322,414,250)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,727.65 +49.77 +0.88%
DAX 6,132.95 +93.95 +1.56%
CAC 40 4,000.48 +50.67 +1.28%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,828.85 +13.82 +0.13%
Hang Seng 20,767.62 -241.00 -1.15%
Straits Times 2,888.37 +2.01 +0.07%

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

Stocks give up steep gains on renewed Greece woes

Stocks erase advance after doubt emerges about prospects for Greece bailout; Dow adds 5 points

Tim Paradis, AP Business Writer, On Thursday March 25, 2010, 5:57 pm

NEW YORK (AP) -- Renewed concern about Greece's debt problems short-circuited the big stock market rally.

The Dow Jones industrial average closed Thursday with a gain of just 5 points after earlier rising to a new high for 2010. Broader indexes slipped.

The market's advance fizzled after European Central Bank's president Jean-Claude Trichet told French television that Europe must take responsibility for its financial problems. That raised concerns about when a rescue for Greece might come.

Officials from European nations were meeting late Thursday to discuss their economic problems, and a deal was finally announced late in the day.

Investors have been concerned for months that problems in Greece and other debt-strapped countries in Europe would spread and spoil a global economic rebound.

"Any time we see comments about it it seems to spook the market," said Adam Gould, senior portfolio manager at Direxion Funds in New York, referring to Greece's financial problems. He said traders still expect Greece will get a bailout but the questions about how unnerved investors. "It's more the uncertainty."

The concerns about Greece weakened the euro and raised demand for the dollar. The climb in the dollar hit prices of commodities like energy. That, in turn, hurt shares of energy and materials stocks.

The worries about Greece and tepid demand at a Treasury Department bond auction for a third straight day overshadowed early enthusiasm about corporate news. Stronger earnings and a higher forecast from retailer Best Buy Co. and a better-than-expected outlook from wireless chip maker Qualcomm Inc. lifted the market in morning trading.

The companies' reports raised hopes that consumer spending will increase. Higher sales of flat-panel TVs, laptop computers and smart phones are welcome signs because consumer spending is the biggest driver of the economy.

Stocks have been climbing with little interruption since early February. The move higher has been largely due to economic reports showing slow but steady improvements in the economy. Major stock indexes are at their highest level in about 18 months.

Burt White, chief investment officer for LPL Financial in Boston, said growing confidence in the economy is deserved but that stocks have been rising too quickly on light trading volume. That signals that relatively few traders have been generating the gains. That also leaves stocks susceptible to sudden slides if more skeptical investors return to the market.

"This market is easier to move because a few buyers are doing it unopposed," White said. "This comet that's kind of shooting higher is slowly every day beginning to kind of lose some momentum."

The Dow rose 5.06, or 0.1 percent, to 10,841.21. It has risen in 16 of the past 20 days.

The Standard & Poor's 500 index fell 1.99, or 0.2 percent, to 1,165.73, while the Nasdaq composite index fell 1.35, or 0.1 percent, to 2,397.41.

Stocks fell Wednesday after a credit rating agency lowered its rating on the debt of Portugal. That raised concerns similar to the ones that took down the advance Thursday. Investors worried that a default by Portugal would trigger a wave of losses for investors.

Bond prices fell again after a third straight auction for government debt drew less interest than in past months. That is a worry for investors because Washington could have to boost interest rates to entice buyers. Doing so could risk hurting the economy by driving up borrowing costs.

The government sold $32 billion in seven-year notes Thursday amid tepid demand. Bond prices had tumbled on Wednesday following another weak auction, and a sale of Treasurys on Tuesday also disappointed investors.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to its highest level in nine months. It climbed to 3.88 percent from 3.86 percent Wednesday.

The dollar rose against most other major currencies.

Crude oil fell 8 cents to settle at $80.53 per barrel in the New York Mercantile Exchange. Gold rose.

Best Buy rose $1.48, or 3.6 percent, to $42.66, while Qualcomm rose $2, or 5 percent, to $42.19.

Anadarko Petroleum Corp. was among the energy stocks that fell. The stock lost $1.61, or 2.3 percent, to $68.75. Meanwhile, Newmont Mining Corp. fell $1.37, or 2.8 percent, to $48.35.

Three stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume came to 5.7 billion shares, compared with 4.8 billion Wednesday.

The Russell 2000 index of smaller companies fell 4.58, or 0.7 percent, to 679.10.

Britain's FTSE 100 gained 0.8 percent, Germany's DAX index rose 1.6 percent, and France's CAC-40 climbed 1.3 percent. Japan's Nikkei stock average rose 0.1 percent.

 

[bigdog]

http://finance.yahoo.com

The Dow Jones industrial average closed the week up 108.38 points, or 1 percent, at 10,850.36. The Standard & Poor's 500 index rose 6.69, or 0.6 percent, to 1,166.59. The Nasdaq composite index rose 20.72, or 0.9 percent, to 2,395.13.

Today's flat session capped off a choppy week, with the end result being a weekly gain of +0.6% in S&P 500. Stocks had continued their bullish trend during the first part of the week, but a sharp intraday reversal yesterday, and another intraday pullback today, pared a good portion of the week's gains. Although yesterday's weakness followed Greece headlines and a disappointing bond auction, and today's pullback took place amid escalating geopolitical concerns after a South Korean naval ship sunk, neither intraday pullback was directly triggered by a specific fundamental catalyst, making the moves more technically driven.

Stocks surrender early gains for 2nd straight day on concerns that market has risen too fast

The stock market looks tired.

Stocks closed mixed for a second day after investors grew pessimistic about the market's ability to keep its rally going.

The Dow Jones industrial average rose 9 points Friday. It had been up as much as 68 after European leaders announced a plan to help Greece with its debts. A similar advance and retreat occurred Thursday.

The NYSE DOW closed HIGHER +9.15 points +0.08% on Friday March 26
Sym. Last......... ........Change..........
Dow 10,850.36 +9.15 +0.08%
Nasdaq 2,395.13 -2.28 -0.10%
S&P 500 1,166.59 +0.86 +0.07%
30-yr Bond 4.7520% -0.2500

NYSE Volume 5,409,102,000 (prior day 6,453,712,000)
Nasdaq Volume 2,261,845,750 (prior day 2,596,896,500)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,703.02 -24.63 -0.43%
DAX 6,120.05 -12.90 -0.21%
CAC 40 3,988.93 -11.55 -0.29%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,996.37 +167.52 +1.55%
Hang Seng 21,053.11 +274.56 +1.32%
Straits Times 2,906.28 +17.91 +0.62%

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

Stocks give up early gains for 2nd straight day

Stocks surrender early gains for 2nd straight day on concerns that market has risen too fast

Stephen Bernard and Tim Paradis, AP Business Writers, On Friday March 26, 2010, 6:03 pm EDT
NEW YORK (AP) -- The stock market looks tired.

Stocks closed mixed for a second day after investors grew pessimistic about the market's ability to keep its rally going.

The Dow Jones industrial average rose 9 points Friday. It had been up as much as 68 after European leaders announced a plan to help Greece with its debts. A similar advance and retreat occurred Thursday.

There wasn't a clear reason for stocks' retrenchment Friday. But analysts said the market does need a break from a climb that has now gone on for two months with few interruptions. The Dow has advanced 17 of the last 21 days.

"The market is extremely vulnerable to a pullback," said Christian Bendixen, director of technical research at Bay Crest Partners in New York.

Even with the mixed finish Friday, major stock indexes still managed to rise for a fourth straight week.

The early gain in stocks came after the European Union and International Monetary Fund created a bailout program that will help Greece and other European nations facing rising debt. The deal reached late Thursday will not make money immediately available to Greece, but instead act more as a safety net.

"It reinforces there will be a rescue and support for Greece," said Oliver Pursche, executive vice president at Gary Goldberg Financial Services. "It lays the groundwork for future rescue packages."

Investors have worried that mounting debt problems in places like Greece, Portugal and Spain would spread to other countries and hamper a global economic rebound.

The reassurance that Greece will get aid, if necessary, helped the euro rise against the dollar. The euro hit 10-month lows during the week.

But the gains faded as traders became uneasy after the extended string of advances, which have come on light volume. When trading volume is weak, investors often worry that only a small number of buyers are driving the market higher.

"Investors may be trigger-happy to lock in gains at any sign of selling," said Michael Sheldon, chief market strategist at RDM Financial Group.

The Dow rose 9.15, or 0.1 percent, to 10,850.36. The Standard & Poor's 500 index rose 0.86, or 0.1 percent, to 1,166.59, while the Nasdaq composite index fell 2.28, or 0.1 percent, to 2,395.13.

For the week, the Dow is up 1 percent. It hasn't risen for four straight weeks since August.

The S&P 500 index rose 0.6 percent and the Nasdaq gained 0.9 percent.

Bond prices rose, pushing down yields. Weak demand at the government's latest auctions for Treasury notes sent prices tumbling and interest rates sharply higher during the week.

The yield on the benchmark 10-year Treasury note fell to 3.85 percent from 3.89 percent late Thursday. The 10-year note is often used as a benchmark for interest rates on consumer loans.

The coming week is a short one for investors. Markets will be closed for Good Friday. But there will be plenty of economic data to digest, including consumer confidence figures on Tuesday and a manufacturing report on Thursday. The government will release its March employment report on Friday, but investors will have to wait to Monday to trade on the news.

Investors brushed aside Friday's final update to the gross domestic product report that showed the U.S. economy grew at a 5.6 percent pace in the fourth quarter, just below the 5.9 percent forecast by economists polled by Thomson Reuters.

Much of the growth was tied to a surge in spending from government stimulus measures and manufacturing as businesses restocked exceptionally low inventories. Those gains are seen as temporary, so GDP likely has slowed sharply in the first quarter.

Consumer spending also remains weak and has not been able to replace the slack from a slowdown in government measures. Consumers are cautious because unemployment remains high, analysts say.

The Reuters/University of Michigan consumer sentiment index for March was revised to 73.6 from a previous estimate of 72.5. The revised number was better than the 73 reading economists had forecast, but only even with February's figure.

Daniel Egan, president of the Massachusetts Credit Union League, said the sentiment reading is likely to remain in its current range until there are signs of jobs growth.

Consumers are "frozen" right now because they are still unsure about their jobs, Egan said. The updated GDP report showed consumer spending was even slower at the end of 2009 than previously estimated.

High unemployment has made consumers cautious, which has been reflected in mixed consumer confidence surveys in recent months. The Labor Department's employment report next Friday is expected to show that employers added jobs in March for only the second month since the recession began in December 2007.

Economists predict employers added 168,000 jobs in March after shedding 36,000 in February.

Advancing stocks narrowly outpaced those that rose on the New York Stock Exchange, where consolidated volume came to 4.7 billion shares, compared with 5.7 billion Thursday.

The Russell 2000 index of smaller companies fell 0.13, or less than 0.1 percent, to 678.97.

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

The Dow Jones industrial average closed the week up 108.38 points, or 1 percent, at 10,850.36. The Standard & Poor's 500 index rose 6.69, or 0.6 percent, to 1,166.59. The Nasdaq composite index rose 20.72, or 0.9 percent, to 2,395.13.

The Russell 2000 index, which tracks the performance of small company stocks, rose 5.08, or 0.8 percent, for the week to 678.97.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 12,003.94, up 70.27, or 0.6 percent.

6129

 

[bigdog]

Source: http://finance.yahoo.com

In contrast to the past couple of sessions, stocks managed to maintain solid gains into the close on Monday. The advance was broad based, but financials lagged from the start.

A dip by the dollar helped bring buyers into the stock market and keep the bullish trend intact. The greenback fell 0.4% against competing currencies; it was never able to muster an actual gain against the basket.

Stocks climb after fifth straight increase in consumer spending boosts hopes for economy

Consumers are more willing to spend, and that's making investors more optimistic about the economy.

The Dow Jones industrial average rose 46 points Monday and broader indexes also climbed after the Commerce Department said consumer spending rose for the fifth straight month in February. The 0.3 percent gain was in line with economists' expectations and raised hopes that the biggest driver of the economy is continuing to rebound.

Job creation and solid consumer spending are considered crucial to a sustained recovery. At the end of the week, investors will get the Labor Department's monthly employment report. Analysts predict that employers added jobs in March for only the second time since the recession began in December 2007.

The NYSE DOW closed HIGHER +45.50 points +0.42% on Monday March 29
Sym. Last......... ........Change..........
Dow 10,895.86 +45.50 +0.42%
Nasdaq 2,404.36 +9.23 +0.39%
S&P 500 1,173.32 +6.73 +0.58%
30-yr Bond 4.7630% +0.1100

NYSE Volume 4,824,934,500 (prior day 5,409,102,000)
Nasdaq Volume 1,890,191,120 (prior day 2,261,845,750)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,710.66 +7.64 +0.13%
DAX 6,156.85 +36.80 +0.60%
CAC 40 4,000.66 +11.73 +0.29%


Asia
Symbol...... Last...... .....Change.......
Nikkei 225 10,986.47 -9.90 -0.09%
Hang Seng 21,237.43 +184.32 +0.88%
Straits Times 2,926.72 +20.44 +0.70%

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

Stocks rise after increase in consumer spending

Stocks climb after fifth straight increase in consumer spending boosts hopes for economy

Tim Paradis, AP Business Writer, On Monday March 29, 2010, 5:44 pm EDT

NEW YORK (AP) -- Consumers are more willing to spend, and that's making investors more optimistic about the economy.

The Dow Jones industrial average rose 46 points Monday and broader indexes also climbed after the Commerce Department said consumer spending rose for the fifth straight month in February. The 0.3 percent gain was in line with economists' expectations and raised hopes that the biggest driver of the economy is continuing to rebound.

Job creation and solid consumer spending are considered crucial to a sustained recovery. At the end of the week, investors will get the Labor Department's monthly employment report. Analysts predict that employers added jobs in March for only the second time since the recession began in December 2007.

Meanwhile, easing concern about debt problems in Greece reduced demand for the safety of the dollar. The dollar's drop in turn lifted demand for commodities, which become more attractive to foreign investors when the dollar falls because most of them are priced in dollars. Energy and materials stocks including Exxon Mobil Corp. and Alcoa Inc. rose.

The debt-strapped Greek government raised $6.74 billion Monday by issuing seven-year bonds. The country's ability to borrow is an important sign of confidence after European leaders and the International Monetary Fund last week agreed to provide a financial safety net for Greece and other countries that use the euro if they couldn't issue debt.

Financial shares were mixed after the Treasury Department said it would start to sell the shares it owns in Citigroup Inc. The government took 7.7 billion Citigroup shares in exchange for $25 billion it gave the bank during the 2008 credit crisis. The planned sale during the next year could result in a profit of about $7.5 billion.

The advance Monday extended a run of incremental gains since early February on expectations that the economy is improving.

"It's more of a slow steady grind higher," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati.

The Dow rose 45.50, or 0.4 percent, to 10,895.86. The index is at its highest level since September 2008 and closer to the psychological threshold of 11,000.

The broader Standard & Poor's 500 index rose 6.63, or 0.6 percent, to 1,173.22, and the Nasdaq composite index rose 9.23, or 0.4 percent, to 2,404.36.

Bond prices mostly fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.87 percent from 3.85 percent late Friday.

The Dow is up 987 points, or 10 percent, since its lowest close of the year on Feb. 8. Some analysts say the steady pace of the advance is a sign the market isn't getting ahead of itself by bursting higher.

"The market seems to be holding up pretty well and probably will for a while," said Frank Haines, chief investment officer at Christian Brothers Investment Services in New York. Haines said low interest rates will help stocks for now but that longer-term threats like uncertainty about policies in Washington and rising debt levels in the U.S. and other countries could eventually hurt markets.

Investors will be looking to the Labor Department's March employment report due Friday. The stock market will be closed for Good Friday.

Economists predict employers added 190,000 jobs. Some of the expected gain could come from hiring of temporary census workers.

The market's gain followed two mixed days. On Thursday and Friday, shares rallied in the morning only to retreat to near flat levels by the closing bell when buying faded. The Dow has climbed in 18 of the past 22 days.

The dollar fell against other major currencies. Gold rose.

Crude oil rose $2.17 to $82.17 per barrel on the New York Mercantile Exchange.

Shares of Citigroup fell 13 cents, or 3 percent, to $4.18.

Exxon Mobil rose 76 cents to $67.30, while aluminum-producer Alcoa rose 17 cents to $14.44.

More than two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.4 billion shares compared with 4.7 billion Friday. Trading volume was light ahead of the start of Passover.

The Russell 2000 index of smaller companies rose 3.28, or 0.5 percent, to 682.25.

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

 

[bigdog]

Source: http://finance.yahoo.com

Large-cap tech issues gave a modest lift to the Nasdaq, but the broader market finished flat after interest in a better-than-expected consumer confidence report dissipated.

A stronger-than-expected improvement in the May Consumer Confidence Index to 52.5 further improved what was already a generally positive tone in the early going. Though gains were modest, the morning advance was broad based.

Stocks waver after better-than-expected reports on consumer confidence, home prices.

The stock market moved closer to closing out another strong quarter with a modest advance Tuesday.

The Dow Jones industrial average added 12 points for its fourth straight gain following a rise in technology stocks.

With one day left in the January-March quarter, the Dow is up 4.6 percent for the period. The gain is sizable, but still below the jump of 7.4 percent it made in the final three months of 2009.

The NYSE DOW closed HIGHER +11.56 points +0.11% on Tuesday March 30
Sym. Last......... ........Change..........
Dow 10,907.42 +11.56 +0.11%
Nasdaq 2,410.69 +6.33 +0.26%
S&P 500 1,173.27 -0.05 -0.00%
30-yr Bond 4.7570% -0.0600

NYSE Volume 4,529,750,000 (prior day 4,824,934,500)
Nasdaq Volume 2,071,251,750 (prior day 1,890,191,120)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,672.32 -38.34 -0.67%
DAX 6,142.45 -14.40 -0.23%
CAC 40 3,987.41 -13.25 -0.33%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 11,097.14 +110.67 +1.01%
Hang Seng 21,374.79 +137.36 +0.65%
Straits Times 2,933.39 +4.25 +0.15%

http://finance.yahoo.com/news/Stocks-waver-after-upbeat-apf-2388604308.html?x=0

Stocks waver after upbeat economic data

Stocks waver after better-than-expected reports on consumer confidence, home prices

Stephen Bernard, AP Business Writer, On Tuesday March 30, 2010, 5:29 pm

NEW YORK (AP) -- The stock market moved closer to closing out another strong quarter with a modest advance Tuesday.

The Dow Jones industrial average added 12 points for its fourth straight gain following a rise in technology stocks.

With one day left in the January-March quarter, the Dow is up 4.6 percent for the period. The gain is sizable, but still below the jump of 7.4 percent it made in the final three months of 2009.

The mood in the market was upbeat Tuesday after a report that consumer confidence grew more than expected in March. A separate report showed home prices inched higher for the eighth consecutive month.

Analysts expect trading to be erratic Wednesday because of the end of the quarter. Money managers often engage in what's known as window dressing, or trades intended to boost returns on reports sent to shareholders. Many investors refrain from big moves. Tuesday's volume was light as many traders took the day off for Passover or ahead of Easter.

A steady climb in stocks over the past two months could give investors reasons to collect some profits. The Dow has risen 19 of the past 23 days and is now at its highest level since September 2008.

"A bout of profit-taking would be normal and expected after the rise we had," said Mitch Schlesinger, managing director of FBB Capital Partners in Bethesda, Md.

The day's economic reports provided new evidence that the economy is improving, albeit slowly.

The Conference Board said its consumer confidence index rose to 52.5 in March, from 46.4 last month. Economists polled by Thomson Reuters had forecast it would rise to 50. A reading above 90 means the economy is on solid footing.

"We're starting to see consumers come back in an adequate manner," said Larry Rosenthal, president of Financial Planning Services in Manassas, Va. "Not strong, but adequate."

The Dow rose 11.56, or 0.1 percent, to 10,907.42. The Dow was up as much as 44 points in morning trading.

The Standard & Poor's 500 index rose 0.05, or less than 0.1 percent, to 1,173.27, while the Nasdaq composite index rose 6.33, or 0.3 percent, to 2,410.69.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where volume came to 907.1 million shares compared with 944.9 million shares Monday.

The Standard & Poor's/Case-Shiller home price index, which measures home values in 20 major metropolitan markets, rose 0.3 percent in January compared with the previous month. It was the eighth consecutive monthly gain.

The index was down 0.7 percent compared with the year-ago period. That was slightly better than the drop forecast by economists.

Investors have been tolerant of uneven housing reports and are instead focused on jobs. Analysts say stocks won't be able to push higher without an improvement in the job market.

The Labor Department releases its monthly employment report Friday. Economists expect it to show employers added 190,000 jobs in March. That would be only the second increase since the recession began in late 2007. Some of the growth is expected to be tied to temporary government hiring for the 2010 census. The stock market will be closed for Good Friday when the report arrives.

Investors will get another snapshot of jobs on Wednesday from payroll company ADP. Economists forecast the ADP report will show private-sector employers added 40,000 jobs in March.

In corporate news, Apple Inc. and Verizon Communications climbed after The Wall Street Journal reported that Apple was making phones that could be used on Verizon's network.

Apple rose $3.46, or 1.5 percent, to $235.85. The stock reached a record of $237.48 during trading.

Verizon shares rose 78 cents, or 2.6 percent, to $31.23.

Apple's iPhone has been available only to subscribers of AT&T Inc. in the U.S. AT&T fell 56 cents, or 2.1 percent, to $25.95.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 3.86 percent from 3.87 percent late Monday.

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

Crude oil rose 20 cents to $82.37 per barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 1.69, or 0.3 percent, to 683.94.

Britain's FTSE 100 fell 0.7 percent, Germany's DAX index dipped 0.2 percent, and France's CAC-40 fell 0.3 percent. Japan's Nikkei stock average rose 1 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Disappointment over the latest ADP Employment Report hampered stocks for the entire session, which concluded on a relatively weak note.

Another 23,000 private payrolls were cut in March, according to the most recent ADP Employment Report. Though that was the smallest decline in two years, the news prompted participants to pressure stocks since the addition of 40,000 jobs had been expected.

Stock market slows its climb but 'tortoise rally' still produces best 1st Qtr since late '90s

The stock market is taking some ages-old advice to heart: everything in moderation.

Stocks on Wednesday ended a first quarter that many investors and analysts would describe as healthy. The Standard & Poor's 500 index is up 4.9 percent by amassing a string of steady gains that were far from the supersized jumps seen in 2009. The Dow Jones industrials are up 4.1 percent, but with unremarkable gains of 50 points here and 15 there. They've had few of the triple-digit swings that used to be commonplace.

The market's relative tranquility has made many analysts upbeat about the chances that its gains will hold. They say investors now have realistic not overoptimistic expectations. And the market has gotten used to the idea of a bumpy economic recovery, including the continuing struggles of the housing market. But analysts warn, for stocks to extend their January-March gains, investors will need to see employers hiring again.

The NYSE DOW closed LOWER -50.79 points -0.47% on Wednesday March 31
Sym. Last......... ........Change..........
Dow 10,856.63 -50.79 -0.47%
Nasdaq 2,397.96 -12.73 -0.53%
S&P 500 1,169.43 -3.84 -0.33%
30-yr Bond 4.7150% -0.4200

NYSE Volume 5,221,368,500 (prior day 4,529,750,000)
Nasdaq Volume 2,398,670,500 (prior day 2,071,251,750)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,679.64 +7.32 +0.13%
DAX 6,153.55 +11.10 +0.18%
CAC 40 3,974.01 -13.40 -0.34%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 11,089.94 -7.20 -0.06%
Hang Seng 21,239.35 -135.44 -0.63%
Straits Times 2,887.46 -45.93 -1.57%

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

Tortoise rally: Stocks have slow but big 1Q gain

Stock market slows its climb but 'tortoise rally' still produces best 1st Qtr since late '90s

Tim Paradis, AP Business Writer, On Wednesday March 31, 2010, 4:39 pm EDT
NEW YORK (AP) -- The stock market is taking some ages-old advice to heart: everything in moderation.

Stocks on Wednesday ended a first quarter that many investors and analysts would describe as healthy. The Standard & Poor's 500 index is up 4.9 percent by amassing a string of steady gains that were far from the supersized jumps seen in 2009. The Dow Jones industrials are up 4.1 percent, but with unremarkable gains of 50 points here and 15 there. They've had few of the triple-digit swings that used to be commonplace.

The market's relative tranquility has made many analysts upbeat about the chances that its gains will hold. They say investors now have realistic not overoptimistic expectations. And the market has gotten used to the idea of a bumpy economic recovery, including the continuing struggles of the housing market. But analysts warn, for stocks to extend their January-March gains, investors will need to see employers hiring again.

Even then, the market is expected to take its time.

"Like any sprinter, at some point you've got to put your hands on your knees and take a deep breath," said John Lynch, chief market analyst at Evergreen Investments in Charlotte, N.C. "That's why we've seen these mild advances in recent weeks -- consistent but mild."

A by-the-numbers look at the advance that some traders have called the "tortoise rally":

-- The Dow fell 51 points, or 0.5 percent, to 10,856.63 Wednesday but still posted its best first quarter since 1999. It is approaching 11,000 for the first time in a year and a half. It's up 9.6 percent after falling to 9,908.39 on Feb. 8. The Dow has closed up 19 of the last 24 days.

The quarter has padded the Dow's huge 2009 gain, putting the average 65.8 percent above the 12-year low of 6,547.05 it reached on March 9 of last year. However, it's still down 23.4 percent from its October 2007 peak of 14,164.53.

-- The broader S&P 500 index fell 3.84, or 0.3 percent, to 1,169.43 Wednesday but rose 4.9 percent for the first quarter and about 5.7 percent including dividends. It's the index's best first-quarter since 1998. For the past 12 months, it's up 46.6 percent, and about 53.6 percent when dividends are included.

-- The Nasdaq composite index fell 12.73, or 0.5 percent, to 2,397.96 Wednesday. It rose 5.7 percent for the quarter, largely on the strength of companies like Apple Inc. Overall, the tech stocks that dominate the Nasdaq had a more modest quarter.

-- The top performer in the S&P 500 index during the first quarter was Zions Bancorp. It surged 70.2 percent.

-- The S&P stock with the biggest price drop was H&R Block Inc. The tax preparer fell 21.3 percent.

-- Industrial stocks had the biggest advance among S&P 500 segments. They rose about 13 percent on expectations that growth in places like China and spending on everything from roads to equipment will pick up.

Financial stocks, which have led the market by nearly doubling in the past year, are up about 10 percent as banks repair their balance sheets and investors grow more hopeful that mortgage and other loan defaults will decline.

-- Telecommunications companies have been the worst performing segment of the S&P 500. Their stock prices have fallen about 5 percent. These stocks are seen as safe plays in bad economies in part because they often carry big dividends. But they lose their appeal when the economy picks up.

-- Utility stocks, also known for paying hefty dividends, are down about 4 percent for the quarter.

Three months ago, the quarter looked like it might be difficult. Starting in early January, the Dow fell 5 percent in about five weeks and investors eared that the stock market's 2009 leap was another bubble about to pop.

Uncertainty about whether China would raise interest rates to keep its fast growth in check hit stocks early on. And questions about whether debt problems in Greece or policy changes in Washington would derail the market have periodically sent stocks skidding.

Investors are still cautious about the economy, especially as the government winds down some of the programs it implemented in 2008 and 2009 to help the economy. The Federal Reserve on Wednesday was ending a program to purchase mortgages. The plan was designed to hold down mortgage rates, which may now creep higher even as the housing market remains weak.

The immediate concern, however, is jobs. The Labor Department issues its March employment report on Friday. Economists expect the report to say that employers added jobs in March for only the second time since the recession began in December 2007.

"There is nothing more important than the labor numbers," said Jim O'Sullivan, chief economist at MF Global. He said if there is a gain for March it will need to continue to convince investors.

"The question is how much more improvement do you see in the next three or four months," O'Sullivan said.

Some analysts are cautious because of the market's own dynamics. They note that trading volume has been light because some traders are nervous about committing more money to stocks until the job market improves.

Barbara Marcin, manager at the Gabelli Blue Chip Value Fund in Rye, N.Y., said stocks are appropriately valued where they are and doesn't see much reason for further gains.

"You can't say it's a really good buy and yet we keep going up," she said.

A year ago, Marcin knew stocks had fallen too far and would eventually turn higher. Now, she's uncertain.

"I'm not sure what you're looking at 12 months from now."

 

[bigdog]

Source: http://finance.yahoo.com

The US stock market will be closed Friday

The Dow Jones industrial average closed the week up 76.71 points, or 0.7 percent, at 10,927.07. The Standard & Poor's 500 index rose 11.51, or 1 percent, to 1,178.10. The Nasdaq composite index rose 7.45, or 0.3 percent, to 2,402.58.

Early support sent the stock market to a fractionally improved 52-week high, but as buyers backed away and sellers squared their positions ahead of tomorrow's official jobs report stocks succumbed to pressure. Stocks bounced in the final hour to close the session on a strong note, though.

News of a pleasing eurozone PMI and a restated commitment by China to loose monetary policy was cited as a reason for the positive mood among market participants in the early going. A less obvious cause for the early gains is that fund money was put to work with the start of the second quarter.

Stronger reports on jobs and manufacturing boosted stocks Thursday ahead of the government's March employment report.

The Dow Jones industrial average rose 70 points to a 2010 high on the final day of a shortened week. The stock market will be closed Friday and the bond market will close early for Good Friday.

Major stock indexes rose for a fifth straight week, giving the Dow its longest winning streak since mid-April last year.

The NYSE DOW closed HIGHER +70.44 points +0.65% on Thursday April 1
Sym. Last......... ........Change..........
Dow 10,927.07 +70.44 +0.65%
Nasdaq 2,402.58 +4.62 +0.19%
S&P 500 1,178.10 +8.67 +0.74%
30-yr Bond 4.7280% +0.1300

NYSE Volume 4,508,887,500 (prior day 5,221,368,500)
Nasdaq Volume 2,283,116,000 (prior day 2,398,670,500)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,744.89 +65.25 +1.15%
DAX 6,235.56 +82.01 +1.33%
CAC 40 4,034.23 +60.22 +1.52%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 11,244.40 +154.46 +1.39%
Hang Seng 21,537.00 +297.65 +1.40%
Straits Times 2,943.02 +55.56 +1.92%

http://finance.yahoo.com/news/Jobs-manufacturing-reports-apf-888469478.html?x=0

Jobs, manufacturing reports boost stock market

Stocks climb on jobs, manufacturing reports; Traders end short week awaiting employment data

Tim Paradis, AP Business Writer, On Thursday April 1, 2010, 5:45 pm EDT
NEW YORK (AP) -- Stronger reports on jobs and manufacturing boosted stocks Thursday ahead of the government's March employment report.

The Dow Jones industrial average rose 70 points to a 2010 high on the final day of a shortened week. The stock market will be closed Friday and the bond market will close early for Good Friday.

Major stock indexes rose for a fifth straight week, giving the Dow its longest winning streak since mid-April last year.

Economists expect the Labor Department will report that employers added 190,000 jobs last month. That would mark on the second month of jobs growth since the recession began in December 2007. Government hiring for the 2010 census could provide a temporary boost, but an increase would still be welcome news for stock investors.

"Just getting a number with six digits -- over 100,000 -- is, I think, very much encouraging to a lot of folks who really believe that none of this counts until we start creating jobs," said Jeffrey Kleintop, chief market strategist at LPL Financial in Boston.

Confidence grew Thursday after the Labor Department said that initial claims for unemployment benefits fell last week. A four-week average of clams dropped to its lowest level in 18 months.

Manufacturing figures also raised expectations that a recovery is gaining steam. A trade group's report found that U.S. manufacturing grew in March at the fastest pace in 5 1/2 years. Manufacturing reports from China and Europe also indicated that factories are busier.

The market has been climbing with little interruption for a year. In the past seven weeks, the gains have been marked by steady increases that are adding up. The Dow on Wednesday wrapped up its strongest first quarter since 1999.

A rise in the price of oil to an 18-month high lifted energy stocks. Occidental Petroleum Corp. and Diamond Offshore Drilling Inc. rose more than 2 percent.

BlackBerry phone maker Research In Motion Ltd. fell 7 percent, dragging down other technology stocks, after the company's fiscal fourth-quarter shipments fell short of expectations.

The Dow rose 70.44, or 0.7 percent, to 10,927.07. The index stands at its highest level since September 2008.

The Dow had been up 100 points, getting within 43 points of the psychological barrier of 11,000. The index hasn't topped that level it hasn't topped in 18 months.

The Standard & Poor's 500 index rose 8.67, or 0.7 percent, to 1,178.10. The technology-dominated Nasdaq composite index rose 4.62, or 0.2 percent, to 2,402.58.

The Dow rose for a fifth straight week, adding 0.7 percent.

The S&P 500 index rose 1 percent for the week, while the Nasdaq gained 0.3 percent.

Bond prices fell, pushing yields higher. The yield on the benchmark 10-year Treasury note rose to 3.87 percent from 3.83 percent late Wednesday.

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

Crude oil topped $85 per barrel before settling up $1.11 at $84.87 per barrel on the New York Mercantile Exchange.

The advance in stocks came after the government said initial jobless claims fell 6,000 to a seasonally adjusted 439,000 last week. Economists had forecast claims would drop to 440,000.

The four-week average of claims fell by nearly 7,000 to 447,250. That was the lowest level since mid-September 2008, just before the collapse of Lehman Brothers deepened the credit crisis.

Even though the stock market will be closed Friday, morning trading in Treasury bonds will provide insight into how investors are reacting to the monthly jobs report, which is the most closely watched piece of data on the economic calendar.

"It has a ripple effect and a psychological effect," said Daniel Penrod, senior industry analyst for the California Credit Union League in Ontario, Calif., referring to health of the job market. A gain in employment would nudge other economic readings higher.

Meanwhile, the Institute for Supply Management said that its manufacturing index rose to 59.6 in March from 56.5 in February. Analysts polled by Thomson Reuters had expected 57. It was the fastest growth since July 2004.

Stocks rose at the start of the week after the government reported that consumer spending rose for a fifth straight month in February. That raised expectations for a recovery in the economy. The market inched higher Tuesday. On Wednesday, a modest drop in stocks did little to damage a strong quarter. The Dow gained 4.1 percent, its best first-quarter performance since 1999. The S&P 500 rose 4.9 percent for its best first-quarter since 1998.

Next week, investors will get reports on the nation's service industry and on pending home sales and consumer credit.

In other trading Thursday, the Russell 2000 index of smaller companies rose 5.34, or 0.8 percent, to 683.98.

Among stocks, Occidental rose $2.06, or 2.4 percent, to $86.60. Diamond Offshore Drilling rose $2.20, or 2.5 percent, to $91.01.

Research in Motion fell $5.49, or 7.4 percent, to $68.48.

Citigroup Inc.'s Primerica saw one of the most successful initial public offerings of 2010. Primerica shares jumped $4.65, or 31 percent, to $19.65. Initial investors paid $15 a share.

Three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to a light 3.8 billion shares, compared with 4.7 billion Wednesday.

Overseas markets rose after reports indicated growth in manufacturing in China and the 16-country bloc that uses the euro. A separate report found that corporate leaders in Japan are more confident about the business climate.

Britain's FTSE 100 rose 1.2 percent, Germany's DAX index gained 1.3 percent, and France's CAC-40 rose 1.5 percent. Japan's Nikkei stock average rose 1.4 percent.

The Dow Jones industrial average closed the week up 76.71 points, or 0.7 percent, at 10,927.07. The Standard & Poor's 500 index rose 11.51, or 1 percent, to 1,178.10. The Nasdaq composite index rose 7.45, or 0.3 percent, to 2,402.58.

The Russell 2000 index, which tracks the performance of small company stocks, rose 5.01, or 0.7 percent, for the week to 683.98.

The Dow Jones U.S. Total Stock Market Index -- which measures nearly all U.S.-based companies -- ended at 12,124.40, up 120.46, or 1 percent.

6690

 

[bigdog]

Source: http://finance.yahoo.com

Broad-based buying on the back of upbeat data boosted the major indices to fresh 52-week highs, but the widely watched Dow couldn't quite make its way to the psychologically significant 11,000 mark.

The stock market was closed in observance of Good Friday when the latest nonfarm payrolls report was released last week, so many market participants treated the jobs numbers like new. Though the numbers were mixed, including a smaller-than-expected increase of 162,000 in total jobs during March and a steady unemployment rate of 9.7%, a deeper dig into the data revealed that there was a larger-than-expected increase in private sector payrolls.

Stocks advance as jobs report, improvement in services industries boost recovery hopes

Stronger reports on jobs and the nation's services industries lifted stocks Monday and pushed the Dow Jones industrial average toward the 11,000 mark.

The Dow rose 46 points and moved closer to crossing the psychological benchmark of 11,000 for the first time in 18 months. Growing confidence about the economy hurt demand for Treasurys and drove up interest rates. The yield on the 10-year Treasury note briefly rose to 4 percent, its highest level since June.

The government's report Friday that the economy posted its biggest job gain in three years in March raised expectations that a recovery is taking hold. Reports Monday of strong improvements in demand at services businesses and in the housing market added to an optimistic mood among traders.

The NYSE DOW closed HIGHER +46.48 points +0.43% on Monday April 5
Sym. Last......... ........Change..........
Dow 10,973.55 +46.48 +0.43%
Nasdaq 2,429.53 +26.95 +1.12%
S&P 500 1,187.44 +9.34 +0.79%
30-yr Bond 4.8430% +1.1500

NYSE Volume 4,261,271,500 (prior day 4,508,887,500)
Nasdaq Volume 2,048,298,380 (prior day 2,283,116,000)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,744.89 closed Monday April 5
DAX 6,235.56 closed Monday April 5
CAC 40 4,034.23 closed Monday April 5

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 11,339.30 +53.21 +0.47%
Hang Seng 21,537.00 closed Monday April 5
Straits Times 2,968.38 +25.36 +0.86%

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

Stronger jobs, services reports send stocks higher

Stocks advance as jobs report, improvement in services industries boost recovery hopes

Tim Paradis, AP Business Writer, On Monday April 5, 2010, 5:49 pm

NEW YORK (AP) -- Stronger reports on jobs and the nation's services industries lifted stocks Monday and pushed the Dow Jones industrial average toward the 11,000 mark.

The Dow rose 46 points and moved closer to crossing the psychological benchmark of 11,000 for the first time in 18 months. Growing confidence about the economy hurt demand for Treasurys and drove up interest rates. The yield on the 10-year Treasury note briefly rose to 4 percent, its highest level since June.

The government's report Friday that the economy posted its biggest job gain in three years in March raised expectations that a recovery is taking hold. Reports Monday of strong improvements in demand at services businesses and in the housing market added to an optimistic mood among traders.

The Labor Department said that employers added 162,000 jobs in March. That was fewer than economists had forecast but there was more hiring by private employers and less temporary hiring by the government than expected. The stock market was closed for Good Friday so traders couldn't react to the report until Monday.

Gains in jobs could help the economy by boosting consumer spending.

The Institute for Supply Management, a trade group, said that its index of activity in the nation's service industries rose in March to 55.4 from 53 in February. That was stronger than the reading of 54 economists had forecast. A rise in backorders signaled that businesses aren't keeping up with demand. The index covers industries including health care, retail and financial services.

Meanwhile, the National Association of Realtors said the number of people who agreed to buy a previously occupied home rose 8.2 percent in February from January. Signed contracts indicate what home sales will do in the coming months. Analysts said some of the gain came from buyers hoping to meet a tax credit that expires April 30.

The reports added to a sense among many analysts that the economy is making strides. Major stock indexes have been climbing for 13 months with little interruption. Since February, stocks have drawn most of their gains from steady advances rather than the big bursts higher that occurred last year.

"The investors that have been buying over the past year are getting rewarded for their expectations that the economy is going to make a turn," said Alan Lancz, money manager at Alan B. Lancz & Associates in Toledo, Ohio.

The Dow rose 46.48, or 0.4 percent, to 10,973.55, its highest close in 18 months. The Dow came within 12 points of 11,000. It hasn't traded above that level since Sept. 29, 2008.

The broader Standard & Poor's 500 index rose 9.34, or 0.8 percent, to 1,187.44. It also stands at an 18-month high.

The technology-dominated Nasdaq composite index rose 26.95, or 1.1 percent, to 2,429.53. The Nasdaq is at its best level since Aug. 15, 2008.

The day's trading signaled that investors are growing more confident, at least for now. Consumer staples and health care shares lagged. Investors look for these stocks in downturns because the businesses provide necessities. Traders often turn to faster-growing areas when the economy looks ready to recover. Technology, industrial and consumer discretionary stocks outpaced the gains of other industries.

The Russell 2000 index of smaller companies rose 13.67, or 2 percent, to 697.65. Investors often pick up shares of small companies ahead of a rebound because they expect earnings will be quicker to improve than at bigger businesses.

The economic numbers pushed Treasury prices lower. The yield of the 10-year note, which moves opposite its price, rose to 3.99 percent from 3.94 percent Friday. It topped 4 percent for the first time since June.

An increase in interest rates could hurt the economy by raising borrowing costs. The yield on the 10-year note is tied to mortgages and other consumer loans.

John Apruzzese, partner and equity portfolio manager at Evercore Wealth Management in New York said the market's more subdued climb in the past two months could eventually bring some investors to put more money in stocks.

"The lower volatility is better. I think it makes the markets appear a little more sane," he said. "That's a trend that could go on for a while."

Apruzzese also said the increase in stocks is justified and that even the prospect of a gradual rise in interest rates from historic lows shouldn't disrupt a recovery.

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

One potential obstacle for the economy could come from a rise in energy prices. Gasoline and oil prices hit 18-month highs Monday after the reports on jobs, services and housing indicated that demand could be picking up as the economy improves.

Crude oil rose $1.75 to $86.62 per barrel on the New York Mercantile Exchange.

Energy stocks logged some of the biggest gains. Southwestern Energy Co. rose $1.26, or 3 percent, to $42.74, while Pioneer Natural Resources Co. climbed $2.25, or 3.8 percent, to $61.40.

Apple Inc. rose $2.52, or 1.1 percent, to $238.49 after the company said it sold more than 300,000 iPads on the first day the touch-screen tablet devices became available.

Three stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to a light 3.8 billion shares, in line with Thursday. Light volume indicates fewer traders are driving the market higher.

Overseas, Japan's Nikkei stock average rose 0.5 percent. European markets remained closed for Easter.

 

[bigdog]

Source: http://finance.yahoo.com

A pullback by the buck and strength among financials combined to help the broader market make its way up to a new 52-week high after stocks had traded with a modest loss in the early going. Gains faded a bit into the close, but overall price action remained positive.

Participants pressured stocks in the early going as the greenback gained ground against competing currencies. It was up nearly 0.7% at its session high, but that gain was cut shortly after the midafternoon release of minutes from the latest FOMC meeting. According to those minutes, the Fed's language regarding low interest rates for an extended period of time does not preclude the Fed from promptly tightening policy. Still, the Fed added that the extended period language could last longer if economy worsens or inflation declines. To the latter point, the FOMC members indicated that consumer spending in the first quarter still seemed constrained and that data has shown a greater-than-expected decline in inflation. Given those observations the Dollar Index dipped to close with a gain of 0.3%.

Stocks post modest moves after financials rise, tech slips; Dow remains near 11,000 mark

The Dow Jones industrial average edged close to the 11,000 mark but failed to cross it for a second day.

The Dow ended down about 4 points, while broader indexes rose. Interest rates fell after rising on Monday.

As it had Monday, the Dow rose to within about a dozen points of the psychological milestone of 11,000 before retreating. It hasn't been above that mark in 18 months.

The NYSE DOW closed LOWER -3.56 points -0.03% on Tuesday April 6
Sym. Last......... ........Change..........
Dow 10,969.99 -3.56 -0.03%
Nasdaq 2,436.81 +7.28 +0.30%
S&P 500 1,189.43 +1.99 +0.17%
30-yr Bond 4.84% +0.01

NYSE Volume 4,615,025,000 (prior day 4,261,271,500)
Nasdaq Volume 2,122,137,250 (prior day 2,048,298,380)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,780.35 +35.46 +0.62%
DAX 6,252.21 +16.65 +0.27%
CAC 40 4,053.94 +19.71 +0.49%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 11,282.32 -56.98 -0.50%
Hang Seng 21,537.00 +297.65 +1.40%
Straits Times 2,975.51 +7.13 +0.24%

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

Stocks wander on thin news; Dow stays below 11,000

Stocks post modest moves after financials rise, tech slips; Dow remains near 11,000 mark

Stephen Bernard and Tim Paradis, AP Business Writers, On Tuesday April 6, 2010, 6:24 pm

NEW YORK (AP) -- The Dow Jones industrial average edged close to the 11,000 mark but failed to cross it for a second day.

The Dow ended down about 4 points, while broader indexes rose. Interest rates fell after rising on Monday.

As it had Monday, the Dow rose to within about a dozen points of the psychological milestone of 11,000 before retreating. It hasn't been above that mark in 18 months.

Shares of regional banks Regions Financial Corp. and SunTrust Banks Inc. rose following upbeat comments from analysts. Tech stocks were mixed after business software company CA Inc. said earnings for the year will come in at the lower end of its forecast. CA also said it would cut 1,000 jobs, or about 8 percent of its work force.

Massey Energy Co. fell more than 11 percent after an underground explosion Monday afternoon blamed on methane gas killed at least 25 coal miners about 30 miles south of Charleston, W.Va. Four others were missing Tuesday following the explosion about 1.5 miles from the entrance to Massey's Upper Big Branch mine. It was the worst U.S. mining disaster since 1984.

The stock market rose to its best levels of the day in afternoon trading when the release of minutes from the Federal Reserve's last meeting signaled that policymakers are more upbeat about the economy. Analysts said, however, that the minutes contained few surprises.

The quiet trading came as investors looked for clues about whether the market could continue its upward march. Stocks have been rising for 13 months but have made steadier advances since February following reports that signal the economy is improving. The Dow has risen for each of the past five weeks, its longest winning streak since mid-April last year.

"It's no longer a question of 'Is the recovery under way?' It's a question of the pace of the recovery," said Paul Ballew, chief economist at Nationwide Insurance in Columbus, Ohio.

Companies will begin reporting earnings for the January-March quarter next week so traders will have a better sense of whether the recent climb in stocks is justified.

The Dow fell 3.56, or less than 0.1 percent, to 10,969.99. It was only the Dow's sixth drop in the past 27 trading days.

The Standard & Poor's 500 index rose 2.00, or 0.2 percent, to 1,189.44. The index is at an 18-month high.

The Nasdaq composite index rose 7.28, or 0.3 percent, to 2,436.81. The index stands at its best level since August 2008.

Bond prices rose, pushing yields lower. The yield on the benchmark 10-year Treasury note fell to 3.96 percent from 3.99 percent late Monday.

The 10-year yield climbed above 4 percent during trading Monday for the first time since June. It is approaching levels not seen since October 2008.

A rise in rates signals in part that investors feel more comfortable about the recovery. That is hurting demand for safer holdings like Treasurys. However, a jump in borrowing costs could slow the rebound.

The dollar rose against other major currencies. Gold rose.

Crude oil rose 22 cents to $86.84 per barrel on the New York Mercantile Exchange after reaching an 18-month high of $87.09 a barrel.

Whether the recovery can continue depends on the labor market. On Friday, the government reported that the economy posted its biggest job gain in three years in March.

"You have to have the average consumer making more this year than last year in order for the economy to grow longer-term," said Jason D. Pride, director of investment strategy at Glenmede in Philadelphia.

Regions Financial rose 36 cents, or 4.4 percent, to $8.55 after Credit Suisse raised its price target on the bank. Shares of SunTrust rose after Credit Suisse said foreign banks could see SunTrust as an attractive takeover target. The stock advanced 97 cents, or 3.5 percent, to $28.71.

CA shares fell 45 cents, or 1.9 percent, to $23.40.

Massey fell $6.24, or 11.4 percent, to $48.45.

About three socks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to a light 4.1 billion shares compared with 3.8 billion Monday. The lighter volume typically indicates that fewer investors are trading in the market. That allows fewer buyers to drive stocks higher.

The Russell 2000 index of smaller companies rose 3.83, or 0.6 percent, to 701.48. The Russell reached a 12-month high of 702.65 during trading.

Britain's FTSE 100 rose 0.6 percent, Germany's DAX index rose 0.3 percent, and France's CAC-40 rose 0.5 percent. Japan's Nikkei stock average fell 0.5 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Moderate weakness mired stocks for most of the session, but a failed attempt to push into positive prompted sellers to intensify their efforts and hand the stock market its worst loss in more than one month.

A lack of positive catalysts in the early going left market participants without reason to chase stocks to new highs, which have become increasingly difficult register in recent sessions.

Stocks fall as concerns deepen about the market's rapid climb; Dow industrials drop 72 points

A late-day slide broke the stock market's calm Wednesday after concerns grew that shares are overheated.

A disappointing drop in consumer borrowing and a slide in oil prices hit a market that analysts said has been looking tired. The Dow Jones industrial average fell 72 points after repeated attempts this week to cross the psychological threshold of 11,000. It hasn't been above that level in 18 months.

It was the Dow's biggest drop since Feb. 23. It had been down by as much as 125 points during the day, its first triple-digit slide since February.

The NYSE DOW closed LOWER -72.47 points -0.66% on Wednesday April 7
Sym. Last......... ........Change..........
Dow 10,897.52 -72.47 -0.66%
Nasdaq 2,431.16 -5.65 -0.23%
S&P 500 1,182.44 -6.99 0.59%
30-yr Bond 4.7440% -1.0000

NYSE Volume 5,735,214,000 (prior day 4,615,025,000)
Nasdaq Volume 2,902,300,750 (prior day 2,122,137,250)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,762.06 -18.29 -0.32%
DAX 6,222.41 -29.80 -0.48%
CAC 40 4,026.97 -26.97 -0.67%


Asia AT 4:31 PM APRIL 8 THURSDAY
Symbol...... Last...... .....Change.......
Nikkei 225 11,168.20 -124.63 -1.10%
Hang Seng 21,891.59 -37.18 -0.17%
Straits Times 2,962.05 -26.05 -0.87%

http://finance.yahoo.com/news/Stock...6.html?x=0&sec=topStories&pos=5&asset=&ccode=

Stock slide punctures 2-month streak of gains

Stocks fall as concerns deepen about the market's rapid climb; Dow industrials drop 72 points

Tim Paradis, AP Business Writer, On Wednesday April 7, 2010, 5:52 pm EDT

NEW YORK (AP) -- A late-day slide broke the stock market's calm Wednesday after concerns grew that shares are overheated.

A disappointing drop in consumer borrowing and a slide in oil prices hit a market that analysts said has been looking tired. The Dow Jones industrial average fell 72 points after repeated attempts this week to cross the psychological threshold of 11,000. It hasn't been above that level in 18 months.

It was the Dow's biggest drop since Feb. 23. It had been down by as much as 125 points during the day, its first triple-digit slide since February.

Analysts said the market has been due for a break after two months of steady gains. The benchmark Standard & Poor's index reached an 18-month high on Tuesday. It had risen 12.6 percent in just two months.

The market found some support in afternoon trading following strong demand at a government bond auction. That sent interest rates lower following a spike on Monday.

The drop in stocks resumed in the final hour of trading, however, after the Federal Reserve said consumer borrowing fell by $11.5 billion in February. Analysts had expected a modest gain of $500 million. The drop, resulting from weakness in credit cards and auto loans, raised concerns that consumer spending will remain weak.

Stocks started the day weaker after Greece's borrowing costs rose again and its stock market slid on concerns that the country could default on its debt. Greece's financial woes have undermined confidence in Europe's shared currency, the euro, and caused jitters on world markets.

Even with the setbacks triggered by Greece's fiscal crisis, U.S. stocks have been on a nearly unbroken climb for 13 months. The past two months of gains have come mainly from modest moves upward, in contrast to the triple-digit gains that were common early in the market's recovery. Investors have been encouraged by a string of reports showing steady improvement in the economy, including a report Friday that U.S. employers created 162,000 jobs in March, the most in three years.

Mike Shea, managing partner at Direct Access Partners LLC in New York, said the market needed to digest the recent climb by pulling back. "To me, good markets behave like this," he said.

The Dow fell 72.47, or 0.7 percent, to 10,897.52. The Dow had flirted with the 11,000 level in recent days, but hadn't crossed it. It came within 12 points of 11,000 on Monday and Tuesday before retreating.

The Standard & Poor's 500 index fell 6.99, or 0.6 percent, to 1,182.45, while the Nasdaq composite index fell 5.65, or 0.2 percent, to 2,431.16.

Mark Coffelt, portfolio manager at Empiric Funds in Austin, Texas, said the drop in stocks is likely to be modest because so many investors are waiting to put money in the market.

"We're probably a little overdue for a correction," Coffelt said. "I think it's going to be pretty light as much of the public is underinvested."

The government's auction of $21 billion in 10-year notes saw stronger demand than at other auctions this year. The 10-year note is used as a benchmark for many consumer loans. Bond yields have been rising in recent weeks, which has pushed interest rates higher.

The yield on the benchmark 10-year Treasury note, which moves opposite to its price, fell to 3.87 percent from 3.96 percent late Tuesday. On Monday, its yield climbed above 4 percent for only the second time since October 2008.

The concern has been that if rates rise too fast, it could slow the economic recovery. The Mortgage Bankers Association said the average rate on 30-year, fixed-rate mortgages surged to 5.31 percent last week from 5.04 percent a week earlier.

Denis Amato, chief investment officer at Ancora Advisors in Cleveland, said a rise in rates could stall the stock market's climb. He noted that historically stocks continue to rise when rates start to creep up because the ease in demand for safety holdings is a sign that investors feel more confident about the economy.

If rates continue to climb, however, concern builds that higher borrowing costs will slow a recovery.

"Eventually it catches up and they recognize that, well yeah, things are getting better but it's going to mean higher rates," Amato said.

The dollar rose against other major currencies. Gold rose.

Crude oil fell 96 cents to $85.88 per barrel on the New York Mercantile Exchange after hitting an 18-month high on Tuesday.

The drop in oil hurt energy stocks. Exxon Mobil Corp. fell 56 cents, or 0.8 percent, to $67.34, while Occidental Petroleum Corp. fell $2.19, or 2.5 percent, to $86.30.

About two stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume came to 4.4 billion shares compared with 4.1 billion Tuesday.

The Russell 2000 index of smaller companies fell 2.02, or 0.3 percent, to 699.46.

Britain's FTSE 100 dropped 0.3 percent, Germany's DAX index fell 0.5 percent, and France's CAC-40 lost 0.7 percent. Investors are concerned that debt problems in Greece and other European countries could upend a global economic recovery.

Japan's Nikkei stock average rose 0.1 percent. Japan's central bank said it would hold its key interest rate steady, and that it sees a recovery taking hold. Asian shares also rose after the World Bank boosted its growth forecast for developing economies in East Asia.

 

[bigdog]

Source: http://finance.yahoo.com

Leadership from the financial sector helped the stock market fight off back-to-back losses to book a solid gain. A downturn by the dollar helped, too.

The S&P 500 was down as much as 0.6% in the first few minutes of trade. Participants extended the prior session's selling effort as concerns about Greece's borrowing ability were rekindled. In fact, the cost to insure Greece's bonds climbed to a record high. That development weakened the euro and drove the dollar modestly higher.

Stocks turn higher after gain in retail sales offsets concerns about Greece debt; Dow adds 30

The stock market recovered from an early slide after an increase in retail sales overshadowed concerns about Greece's debt problems and the job market.

The Dow Jones industrial average finished with a gain of 30 points after being down 53 and falling the prior two days. Broader indexes also rose.

The market turned higher around midday after sales gains at the nation's major retailers raised expectations for the economy as well as the corporate earnings reports that start to arrive next week.

The NYSE DOW closed HIGHER +29.55 points +0.27% on Thursday April 8
Sym. Last......... ........Change..........
Dow 10,927.07 +29.55 +0.27%
Nasdaq 2,436.81 +5.65 +0.23%
S&P 500 1,186.43 +3.99 +0.34%
30-yr Bond 4.7610% +0.0170

NYSE Volume 5,293,107,500 (prior day 5,735,214,000)
Nasdaq Volume 2,343,521,000 (prior day 2,902,300,750)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,712.70 -49.36 -0.86%
DAX 6,171.83 -50.58 -0.81%
CAC 40 3,978.46 -48.51 -1.20%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 11,168.20 -124.63 -1.10%
Hang Seng 21,867.04 -61.73 -0.28%
Straits Times 2,963.19 -24.91 -0.83%

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

Investors look past Greece worries to retail sales

Stocks turn higher after gain in retail sales offsets concerns about Greece debt; Dow adds 30

Tim Paradis, AP Business Writer, On Thursday April 8, 2010, 5:54 pm EDT

NEW YORK (AP) -- The stock market recovered from an early slide after an increase in retail sales overshadowed concerns about Greece's debt problems and the job market.

The Dow Jones industrial average finished with a gain of 30 points after being down 53 and falling the prior two days. Broader indexes also rose.

The market turned higher around midday after sales gains at the nation's major retailers raised expectations for the economy as well as the corporate earnings reports that start to arrive next week.

Improved weather and an early Easter lifted sales at stores open at least a year by 9 percent in March, based on results from 31 retailers compiled by the International Council of Shopping Centers.

The stock market began the day lower following drops overseas. Greece's borrowing costs rose to a record level Thursday, signaling that a rescue plan from other European countries and the International Monetary Fund might not be enough to prevent a default.

Investors are concerned that losses on Greek debt would further undermine the euro and trip up a rebound in the global economy. The country's budget deficit has been one of the few drags on stock markets around the world so far in 2010.

A disappointing report on initial jobless claims added to the downbeat mood early in the day. The Labor Department said initial claims for jobless benefits rose unexpectedly last week, jumping 18,000 to a seasonally adjusted 460,000. Economists polled by Thomson Reuters had forecast a drop.

Last week, the government said that employers added 162,000 jobs in March, the most in three years.

The market has been shifting directions this week after two months of nearly unbroken gains. The Standard & Poor's 500 index reached an 18-month high on Tuesday after rising 12.6 percent since early February. Analysts said the gains were big enough that a pause shouldn't alarm investors.

Tim Speiss, chairman of Personal Wealth Advisors practice at Eisner LLP in New York, said the interest among some buyers in pouncing on drops in the market is likely to continue.

"I don't believe at all that we're going to have any kind of correction," he said. A correction refers to a drop of at least 10 percent from a peak. There have been five drops of 5 to 8 percent since major stock indexes hit 12-year lows 13 months ago but none have topped 10 percent.

The Dow rose 29.55, or 0.3 percent, to 10,927.07, the exact level where it closed a week earlier. The S&P 500 index rose 3.99, or 0.3 percent, to 1,186.44, while the Nasdaq composite index rose 5.65, or 0.2 percent, to 2,436.81.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange, where consolidated volume came to 4.8 billion shares, compared with 4.4 billion Wednesday.

Stocks retreated this week after the Dow flirted with 11,000 on Monday and Tuesday for the first time in 18 months.

Bond prices were little changed. The yield on the benchmark 10-year Treasury note rose to 3.89 percent from 3.87 percent late Wednesday.

The 10-year yield fell Wednesday after an auction for the notes was welcomed with strong demand from investors. Yields had been rising steadily in recent weeks on concerns about high levels of supply and continued signs of economic growth. A $13 billion auction in 30-year bonds Thursday met expectations.

Sales reports from retailers showed consumers are beginning to return to stores.

Target Corp. and TJX Cos., the owner of T.J. Maxx, Marshalls and other discount stores, increased their first-quarter earnings forecasts following strong sales in March. Macy's Inc. posted March sales that topped analysts' expectations.

Target rose $1.63, or 3 percent, to $55.64, while TJX rose 20 cents to $44.82. Macy's rose 19 cents to $22.65.

The increased forecasts and sales reports raised already high expectations for earnings from the January-March quarter. The stock market has been climbing on expectations that profit reports will be stronger.

"We're kind of in a little bit of a tug-of-war here," said Jay Feeney, chief investment officer at Robeco Investment Management in Boston. "The market has run up pretty significantly, earnings expectations have come up pretty dramatically and now I think we're going to be in a little bit of a wait-and-see."

Gold and oil fell, while the dollar rose.

Crude oil fell 49 cents to $85.39 per barrel on the New York Mercantile Exchange.

The Russell 2000 index of smaller companies rose 0.18, or less than 0.1 percent, to 699.64.

Britain's FTSE 100 fell 0.9 percent, Germany's DAX index dropped 0.8 percent, and France's CAC-40 fell 1.2 percent. Japan's Nikkei stock average fell 1.1 percent.