NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

It was shaping up to be another crummy day on the stock market Wednesday until investors decided to start looking for beaten-down shares after four straight days of declines.

The Dow Jones industrial average fell as much as 102 points in the first hour of trading after the latest batch of weak reports renewed fears that the economy was slowing down. Sales of new homes fell to their lowest pace on record in July, and durable goods orders were also weak.

But after four straight days of avoiding risk, traders began edging out of safe assets like Treasurys and back into stocks. The Dow ended with a gain of 19.61 points, or 0.2 percent, at 10,060.06.

The NYSE DOW closed HIGHER +164.84 points +1.65% on Friday August 27
Sym. Last......... ........Change..........
Dow 10,150.65 +164.84 +1.65%
Nasdaq 2,153.63 +34.94 +1.65%
S&P 500 1,064.59 +17.37 +1.66%
30-yr Bond 3.6980% +1.6700

NYSE Volume 4,295,823,500 (prior day 3,940,684,250)
Nasdaq Volume 2,169,649,500 (prior day 1,843,379,380)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,201.56 +45.72 +0.89%
DAX 5,951.17 +38.59 +0.65%
CAC 40 3,507.44 +32.41 +0.93%

Asia
Symbol...... Last...... .....Change
Nikkei 225 8,991.06 +84.58 +0.95%
Hang Seng 20,597.35 -14.71 -0.07%
Straits Times 2,938.74 +12.87 +0.44%

http://finance.yahoo.com/news/Stocks-recover-following-weak-apf-824894060.html?x=0#Scene_1

Stocks recover following weak home sales report

Stocks bounce back from an early slump; Dow has its first gain in five days

Stephen Bernard, AP Business Writer, On Wednesday August 25, 2010, 5:51 pm EDT

NEW YORK (AP) -- It was shaping up to be another crummy day on the stock market Wednesday until investors decided to start looking for beaten-down shares after four straight days of declines.

The Dow Jones industrial average fell as much as 102 points in the first hour of trading after the latest batch of weak reports renewed fears that the economy was slowing down. Sales of new homes fell to their lowest pace on record in July, and durable goods orders were also weak.

But after four straight days of avoiding risk, traders began edging out of safe assets like Treasurys and back into stocks. The Dow ended with a gain of 19.61 points, or 0.2 percent, at 10,060.06.

The back-and-forth trading pattern has been typical of the volatility seen on the market in recent weeks, which has been exacerbated by very low trading volumes as investors take summer vacations.

"We rally, we sell off. We rally, we sell off," said Sandy Mehta, principal and chief investment officer of Value Investment Principals. "It's just the nature of the market right now."

Broader market barometers also rose. The Standard & Poor's 500 rose 3.46, or 0.3 percent, to 1,055.33, while the Nasdaq rose 17.78, or 0.8 percent, to 2,141.54.

About three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to a relatively low 4.4 billion shares, versus 4.5 billion shares the day before.

Interest rates initially fell in the bond market following the disappointing economic data, but rose steadily throughout much of the day as traders exited some of their Treasury positions and became more willing to pick up riskier assets.

Oil prices also rose, in another sign that traders are less concerned about finding safe assets. Crude rose more than $1 off its low for the day to settle at $72.52 a barrel.

The yield on the 10-year Treasury note fell as low as 2.42 percent during morning trading before climbing back to 2.54 percent. That yield helps set interest rates on mortgages and other consumer loans.

Overseas, Japanese shares fell again after the yen hit a new 15-year high against the dollar and a nine-year high against the euro. The high yen hurts profitability at major Japanese exporters. Japan's Nikkei stock average fell 1.7 percent. European markets were also lower.

9488

 

[bigdog]

Source: http://finance.yahoo.com

The Dow fell 140.92, or 1.4 percent, to close at 10,009.73. The Standard & Poor's 500 index fell 15.67, or 1.5 percent, to 1,048.92, while the Nasdaq composite index fell 33.66, or 1.6 percent, to 2,119.97.

Stocks fell in thin trading Monday after more signs of slowing economic growth got investors worried ahead of a key report on jobs later this week.

The Dow Jones industrial average lost ground throughout the day and closed with a loss of 141 points. Other indexes also fell more than 1 percent. Bond prices rose, sending interest rates lower, as money moved back into the Treasury market.

The latest cause for worry on the economy came in a report early Monday showing that personal incomes rose less than expected in July. That added to a series of discouraging economic indicators recently suggesting that growth could slow down in the second half of the year.

The NYSE DOW closed LOWER -140.92 points -1.39% on Monday August 30
Sym. Last......... ........Change..........
Dow 10,009.73 -140.92 -1.39%
Nasdaq 2,119.97 -33.66 -1.56%
S&P 500 1,048.92 -15.67 -1.47%
30-yr Bond 3.6020% -0.9600

NYSE Volume 3,401,901,750 (prior day 4,295,823,500)
Nasdaq Volume 1,614,811,120 (prior day 2,169,649,500)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,201.56 closed for holiday
DAX 5,912.41 -38.76 -0.65%
CAC 40 3,487.01 -20.43 -0.58%

Asia
Symbol...... Last...... .....Change
Nikkei 225 9,149.26 +158.20 +1.76%
Hang Seng 20,737.22 +139.87 +0.68%
Straits Times 2,957.06 +18.32 +0.62%

http://finance.yahoo.com/news/Stocks-drop-as-investors-apf-4071777060.html?x=0

Stocks drop as investors enter week cautiously

Stocks fall as traders cautious ahead of monthly jobs report; personal spending inches higher

Stephen Bernard, AP Business Writer, On Monday August 30, 2010, 5:31 pm

NEW YORK (AP) -- Stocks fell in thin trading Monday after more signs of slowing economic growth got investors worried ahead of a key report on jobs later this week.

The Dow Jones industrial average lost ground throughout the day and closed with a loss of 141 points. Other indexes also fell more than 1 percent. Bond prices rose, sending interest rates lower, as money moved back into the Treasury market.

The latest cause for worry on the economy came in a report early Monday showing that personal incomes rose less than expected in July. That added to a series of discouraging economic indicators recently suggesting that growth could slow down in the second half of the year.

"The personal income report did little to ease the nervousness about the trajectory of the economy," said Alan Gayle, senior investment strategist at RidgeWorth Investments. The report did show spending was up in July, but without consistent growth in income, any increase in spending is likely temporary, Gayle said.

Investors have been focusing on employment data as a way of predicting where the economy is going. Signs of a slowdown in growth has plagued the market for more than a month. Investors are unsure if companies will be able to keep up strong earnings growth if the recovery runs out of steam or falls back into recession.

"You have to prepare for slower growth," said Mark Tepper, managing partner at Strategic Wealth Partners. "As consumer spending goes down, businesses will experience lower earnings."

Investors have been betting in recent weeks that the weaker economic reports will translate into smaller earnings than previously thought. That, in turn, has helped drive stocks lower to match the diminished expectations.

The Dow fell 140.92, or 1.4 percent, to close at 10,009.73. The Standard & Poor's 500 index fell 15.67, or 1.5 percent, to 1,048.92, while the Nasdaq composite index fell 33.66, or 1.6 percent, to 2,119.97.

About four stocks fell for every two that rose on the New York Stock Exchange, where consolidated volume was anemically low at 2.9 billion shares.

The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.53 percent from 2.65 percent late Friday. That yield helps set interest rates on mortgages and other consumer loans.

Biotechnology company Genzyme said Sanofi-Aventis' $69 per share offer undervalues the company. Genzyme shares jumped $2.29, or 3.4 percent, to $69.91, while Sanofi fell 29 cents to $28.63.

Cogent jumped $2.18, or 24.4 percent, to $11.09 after manufacturer 3M said it would buy the maker of fingerprint scanners for $10.50 a share. Shares of 3M dipped $1.35 to $79.65.

Hewlett-Packard said it plans to repurchase $10 billion in stock. The computer company plans to buy back shares, in part, to offset dilution from employee stock plans. Hewlett-Packard shares rose 56 cents to $38.56.

Stocks have largely been moving on major economic reports and less on individual corporate news during the past month. Because the Labor Department's monthly employment report doesn't come until Friday, investors will look for signs earlier in the week about the jobs market. A report on private employment comes out Wednesday, and first-time claims for unemployment insurance for last week will come out on Thursday.

On Monday, the Commerce Department said personal income rose 0.2 percent last month, falling below economists' forecast for 0.3 percent growth, according to Thomson Reuters.

Japanese markets surged after the country's central bank approved new stimulus measures aimed at sparking growth and putting the brakes on a strengthening yen. The yen recently hit a 15-year high against the dollar, which hurts Japanese manufacturers, like Sony Corp., Panasonic Corp. and Toyota Motor Corp., that rely heavily on exports. Japan's Nikkei stock average rose 1.8 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The stock market ended its worst August since 2001 with meager gains Tuesday after minutes from the latest Federal Reserve meeting showed officials' increasing concern about the economy.

Stock indexes gave up most of their gains in mid-afternoon after the release of minutes from the Fed's Aug. 10 meeting. Fed officials said during their discussions that they recognized that the economy might need further stimulus beyond the purchases of government debt the central bank announced that day. Some of the officials acknowledged that economy had softened more than they had anticipated.

The Dow Jones industrial average ended with a gain of 5 points, having been up 64 following a reading on consumer confidence in August that came in stronger than expected. Stocks fell sharply for much of August after a series of reports suggested that the recovery has weakened.

The S&P 500, the measure used most by stock market professionals, finished August with a loss of 4.7 percent. It was the S&P 500's worst showing for the month since August 2001, when it lost 6.4 percent as the dot-com bubble collapsed. Year-to-date, the S&P 500 is down 5.9 percent.

Other market indicators also had dismal performances in August, having surged ahead in July on a series of strong earnings reports. The Dow lost 4.3 percent in August, while the Nasdaq lost 6.2 percent.

The NYSE DOW closed HIGHER +4.99 points +0.05% on Tuesday September 1
Sym. Last......... ........Change..........
Dow 10,014.72 +4.99 +0.05%
Nasdaq 2,114.03 -5.94 -0.28%
S&P 500 1,049.33 +0.41 +0.04%
30-yr Bond 3.5330% -0.6900

NYSE Volume 5,084,518,500 (prior day 3,401,901,750)
Nasdaq Volume 2,140,087,000 (prior day 1,614,811,120)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,225.22 +23.66 +0.45%
DAX 5,925.22 +12.81 +0.22%
CAC 40 3,490.79 +3.78 +0.11%

Asia
Symbol...... Last...... .....Change
Nikkei 225 8,824.06 -325.20 -3.55%
Hang Seng 20,536.49 -200.73 -0.97%
Straits Times 2,950.33 -6.73 -0.23%

http://finance.yahoo.com/news/Stock...=0&sec=topStories&pos=1&asset=&ccode=#Scene_1

Stocks end a brutal August with meager gains

Stock market closes out its worst August since '01 with meager gains

Stephen Bernard and Bernard Condon, AP Business Writer, On Tuesday August 31, 2010, 5:22 pm

NEW YORK (AP) -- The stock market ended its worst August since 2001 with meager gains Tuesday after minutes from the latest Federal Reserve meeting showed officials' increasing concern about the economy.

Stock indexes gave up most of their gains in mid-afternoon after the release of minutes from the Fed's Aug. 10 meeting. Fed officials said during their discussions that they recognized that the economy might need further stimulus beyond the purchases of government debt the central bank announced that day. Some of the officials acknowledged that economy had softened more than they had anticipated.

The Dow Jones industrial average ended with a gain of 5 points, having been up 64 following a reading on consumer confidence in August that came in stronger than expected. Stocks fell sharply for much of August after a series of reports suggested that the recovery has weakened.

The S&P 500, the measure used most by stock market professionals, finished August with a loss of 4.7 percent. It was the S&P 500's worst showing for the month since August 2001, when it lost 6.4 percent as the dot-com bubble collapsed. Year-to-date, the S&P 500 is down 5.9 percent.

Some traders said there was disappointment that the Fed wasn't pessimistic enough to consider quicker steps to stimulate that economy.

Dan Cook, senior market analyst with the brokerage firm IG Markets, said the minutes gave a picture of a cautious and conservative Fed. While officials acknowledged the economy's problems, they chose to take only small, initial steps. Traders who have hoped the Fed would be more aggressive to stimulate the economy soon aren't so sure now that the central bank will act.

"People are thinking maybe we need more of a downturn before the Fed will jump in," Cook said. Unlike traders, he said, "the Fed moves like a glacier."

The Dow rose 4.99, or 0.05 percent, to close at 10,014.72.

Broader indexes were mixed. The Standard & Poor's 500 index edged up 0.41, or 0.04 percent, to 1,049.33. The Nasdaq composite index fell 5.94, or 0.3 percent, to 2,114.03.

Other market indicators also had dismal performances in August, having surged ahead in July on a series of strong earnings reports. The Dow lost 4.3 percent in August, while the Nasdaq lost 6.2 percent.

Rising stocks outpaced falling ones by about 4 to 3 on the New York Stock Exchange, where volume came to 1.4 billion shares.

Volume has been very light in recent days, which can exaggerate movements in the market.

"The low volume (is a sign) there's not a lot of belief on either side," said John Merrill, chief investment officer at Tanglewood Wealth Management. The market "is treading water as people are looking for a discernible trend."

Treasury prices rose, sending their yields lower, as cautious investors put money back into bonds. The yield on the 10-year Treasury note, which helps set interest rates on mortgages and other kinds of loans, fell to 2.47 percent from 2.53 percent late Monday.

A weaker reading on manufacturing activity in the Midwest Tuesday was the latest report to follow the negative trend. The drop in the Chicago Purchasing Managers Index was similar to declines seen in other regional manufacturing reports earlier this month.

Some investors worry that the signals of weakness in the economy emerging recent weeks could suggest a slowdown throughout the second half of the year and possibly even a dip back into recession.

Joseph Battipaglia, market strategist at Stifel Nicolaus & Co., said the drop in August matters less than what caused it: signs that economic growth is slowing, or worse.

"The evidence suggests we're going into a recession," he said. "The S&P has held nicely north of 1,000 but we'll break through it."

Overseas, Japanese stocks were hammered as the yen hovers near a 15-year high against the dollar. Many Japanese companies like Sony, Panasonic and Toyota rely heavily on exports, so a stronger yen cuts into their profits. Japan's Nikkei stock average tumbled to a 16-month low, falling 3.6 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The fear that has been hanging over markets for most of August lifted on Wednesday. For how long remains anyone's guess.

The stock market started September with a jolt, turning sharply higher after a pair of encouraging reports on manufacturing sent investors seeking out riskier investments. Prices for the safest assets -- Treasurys, gold and the dollar -- all fell.

With investors suddenly willing to embrace risk, the Dow Jones industrial average added 255 points, its best day since July 7. All 30 stocks in the Dow closed higher. That marked a sharp break from August, when the market's most widely used index turned in its worst performance for the month in nine years.

Reports of stronger-than-expected manufacturing growth in China and the U.S snapped a run of discouraging data on the economy, including dismal readings on home sales and economic output. The Institute for Supply Management said manufacturing activity in the U.S. rose in August, in contrast to regional reports from recent weeks that pointed to a slowdown.

The NYSE DOW closed HIGHER +254.75 points +2.54% on Wednesday September 1
Sym. Last......... ........Change..........
Dow 10,269.47 +254.75 +2.54%
Nasdaq 2,176.84 +62.81 +2.97%
S&P 500 1,080.29 +30.96 +2.95%
30-yr Bond 3.6620% +1.2900

NYSE Volume 5,205,715,500 (prior day 5,084,518,500)
Nasdaq Volume 2,168,581,000 (prior day 2,140,087,000)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,366.41 +141.19 +2.70%
DAX 6,083.90 +158.68 +2.68%
CAC 40 3,623.84 +133.05 +3.81%

Asia
Symbol...... Last...... .....Change
Nikkei 225 8,927.02 +102.96 +1.17%
Hang Seng 20,623.83 +87.34 +0.43%
Straits Times 2,982.83 +32.50 +1.10%

http://finance.yahoo.com/news/Stock-market-kicks-off-apf-2476999796.html?x=0

Markets start September with a bang; Dow up 255

Stocks start month with a big rally after signs of growth in US, Chinese manufacturing

Stephen Bernard, AP Business Writer, On Wednesday September 1, 2010, 6:11 pm

NEW YORK (AP) -- The fear that has been hanging over markets for most of August lifted on Wednesday. For how long remains anyone's guess.

The stock market started September with a jolt, turning sharply higher after a pair of encouraging reports on manufacturing sent investors seeking out riskier investments. Prices for the safest assets -- Treasurys, gold and the dollar -- all fell.

With investors suddenly willing to embrace risk, the Dow Jones industrial average added 255 points, its best day since July 7. All 30 stocks in the Dow closed higher. That marked a sharp break from August, when the market's most widely used index turned in its worst performance for the month in nine years.

Reports of stronger-than-expected manufacturing growth in China and the U.S snapped a run of discouraging data on the economy, including dismal readings on home sales and economic output. The Institute for Supply Management said manufacturing activity in the U.S. rose in August, in contrast to regional reports from recent weeks that pointed to a slowdown.

"It gives up hope that things may not be as bad as they seem," said Zahid Siddique, an associate portfolio manager at Gabelli Equity Trust Inc.

The Dow gained 254.75 points, or 2.5, percent to close at 10,269.47. Industrial stocks such as General Electric Co. and Caterpillar Inc. were among the Dow's biggest gainers.

Analysts cautioned that the gains, like many others the market has seen in recent weeks, could quickly pass. A bad surprise from the Labor Department's monthly report on employment, due out Friday, could investors back into hiding.

The good news on manufacturing "gives some comfort, but that is only good until the next number," said Darell Krasnoff, managing director at Bel Air Investment Advisors.

Even with its gains Wednesday, the Dow is still 989 points below its high this year of 11,258 reached on April 26. Nearly half of those losses, or 451 points, came in August as the market was bombarded with bad news on the economy.

Daniel Penrod, senior industry analyst at the California Credit Union League, said manufacturing reports have become increasingly important because they are a leading indicator for whether companies might start adding new jobs.

"If manufacturers ramp up ... it's going to require hiring," Penrod said. "Getting closer to that threshold (of hiring) is vital to the economy."

The Standard & Poor's 500 index rose 30.96, or 3 percent, to 1,080.29. The S&P 500 lost 4.7 percent in August, its worst showing for the month since 2001, when the dot-com bubble was imploding. The Nasdaq gained 62.81, or 3 percent, to 2,176.84.

About six stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 4.5 billion shares.

Safety assets fell broadly. Gold slipped $2.20 to settle at $1,248.10 an ounce. The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.58 percent from 2.47 percent late Tuesday. The yield on government debt anchors borrowing rates for a wide variety of consumer and business loans.

In corporate news, Burger King Holdings Inc. jumped $2.41, or 14.7 percent, to $18.86 on reports it could be taken private. Apple Inc. shares rose $7.23, or 3 percent, to $250.33 after CEO Steve Jobs announced a new line of iPods.

GE rose 53 cents, or 3.7 percent, to $15.01. Eaton Corp. climbed $5.38, or 7.7 percent, to $74.86.

AP Business Writer Matthew Craft contributed to this story.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks rose Thursday, extending their gains from the day before, after reports on housing, manufacturing and jobs all indicated that the economy continues to grow.

The Dow Jones industrial average rose 50 points, having jumped 254 on Wednesday thanks to strong reports on manufacturing in the U.S. and China. Broader indexes also rose.

Trading was somewhat muted ahead of the government's closely watched monthly report on employment due out Friday.

The NYSE DOW closed HIGHER +50.63 points +0.49% on Thursday September 2
Sym. Last......... ........Change..........
Dow 10,320.10 +50.63 +0.49%
Nasdaq 2,200.01 +23.17 +1.06%
S&P 500 1,090.10 +9.81 +0.91%
30-yr Bond 3.7260% +0.6400

NYSE Volume 4,269,797,500 (prior day 5,205,715,500)
Nasdaq Volume 1,692,405,880 (prior day 2,168,581,000)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,371.04 +4.63 +0.09%
DAX 6,083.85 -0.05 -0.00%
CAC 40 3,631.43 +7.59 +0.21%

Asia
Symbol...... Last...... .....Change
Nikkei 225 9,062.84 +135.82 +1.52%
Hang Seng 20,868.92 +245.09 +1.19%
Straits Times 2,986.66 +3.83 +0.13%

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

Stocks move higher following jobs, housing reports

Stocks rise after pending home sales, factory orders rise and unemployment claims dip

Stephen Bernard, AP Business Writer, On Thursday September 2, 2010, 4:19 pm

NEW YORK (AP) -- Stocks rose Thursday, extending their gains from the day before, after reports on housing, manufacturing and jobs all indicated that the economy continues to grow.

The Dow Jones industrial average rose 50 points, having jumped 254 on Wednesday thanks to strong reports on manufacturing in the U.S. and China. Broader indexes also rose.

Trading was somewhat muted ahead of the government's closely watched monthly report on employment due out Friday.

"We're treading water," said Dan Genter, CEO of RNC Genter Capital. Traders are waiting to see if Friday's jobs data "provides more of a rescue or a shark attack."

The monthly report is likely to provide further evidence that the jobs market remains weak. Economists polled by Thomson Reuters predict the unemployment rate inched up to 9.6 percent last month from 9.5 percent in July as private employers hired just 41,000 workers last month.

With little broad conviction about the health of the economy, investors chose to target specific stocks following monthly retail sales reports and the latest acquisition activity.

"It's a trader's market," said Kenneth Polcari, managing director at ICAP Equities.

Burger King Holdings Inc. and data storage provider 3Par Inc. both rose after agreeing to be acquired. Limited Brands Inc., which operates Victoria's Secret and Bath & Body Works, got a lift from strong August sales.

According to preliminary calculations, the Dow Jones industrial average rose 50.63, or 0.5 percent, to 10,320.10.

The Standard & Poor's 500 index rose 9.81, or 0.9 percent, to 1,090.10, while the Nasdaq composite index rose 23.17, or 1.1 percent, to 2,200.01.

The Labor Department said first-time claims for unemployment benefits fell slightly last week, but remain well above levels that indicate a healthy economy. Claims dipped for the second straight week. They fell slightly below the level economists had forecast, which was somewhat encouraging ahead of Friday's monthly employment report.

The number of buyers who signed contracts to purchase homes rose 5.2 percent in July after hitting a record low in June, according to the National Association of Realtors. Sales plummeted in the months following the expiration of the government's home buyer tax credit in April and economists were expecting that trend to continue for a third straight month.

Factory orders also climbed, rising 0.1 percent in July. The rise in orders backs up a report Wednesday showing the manufacturing sector continues to expand. Major indexes jumped more than 2 percent Wednesday after a surprising rise in manufacturing activity.

About two stocks rose for every one that fell on the New York Stock Exchange, where volume was light at 960 million shares.

Bond prices dipped after the economic reports. The yield on the 10-year Treasury note, which moves opposite its price, rose to 2.63 percent from 2.58 percent late Wednesday. That yield helps set interest rates on mortgages and other consumer loans.

Limited shares jumped $1.46, or 6.0 percent, to $25.73.

Shares of 3Par rose 79 cents, or 2.5 percent, to $32.87 after Hewlett-Packard Co. won a bidding war for the data storage provider. Hewlett-Packard raised its bid to $33 per share after competitor Dell Inc. offered $32 per share.

Burger King jumped $4.72, or 25 percent, to $23.58. It is being taken private for $3.26 billion, or $24 per share.

Mariner Energy Inc. shares dropped after an oil rig it owns exploded in the Gulf of Mexico. The rig was not currently producing oil. Its shares fell 59 cents to $22.76.

 

[bigdog]

Source: http://finance.yahoo.com

For the week, the Dow is up 2.9 percent, while the S&P 500 and the Nasdaq are both up 3.7 percent. It was the first week of gains in a month for both the Dow and S&P.

The stock market had its first winning week in a month thanks to better news on the economy.

The Dow Jones industrial average jumped 128 points Friday, its fourth straight day of gains. The strong start to September marked a turnaround from a dismal performance in August.

A better-than-expected report on employment Friday was the latest piece of improving news on the economy. Stocks also gained earlier this week following signs that manufacturing was gaining in the U.S. and China.

Even after its four-day run, which added 438 points to the Dow, the index is still 6.8 percent below the 2010 high it reached on April 26. Stocks had eased slightly after a report showed that the services sector didn't grow as fast as hoped in August.

The NYSE DOW closed HIGHER +127.83 points +1.24% on Friday September 3
Sym. Last......... ........Change..........
Dow 10,447.93 +127.83 +1.24%
Nasdaq 2,233.75 +33.74 +1.53%
S&P 500 1,104.51 +14.41 +1.32%
30-yr Bond 3.7830% +0.5700

NYSE Volume 4,157,451,750 (prior day 4,269,797,500)
Nasdaq Volume 1,662,947,500 (prior day 1,692,405,880)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,428.15 +57.11 +1.06%
DAX 6,134.62 +50.77 +0.83%
CAC 40 3,672.20 +40.77 +1.12%

Asia
Symbol...... Last...... .....Change
Nikkei 225 9,114.13 +51.29 +0.57%
Hang Seng 20,971.50 +102.58 +0.49%
Straits Times 2,993.99 +7.33 +0.25%

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

Stocks extend September rally after jobs report

Stocks have their first winning week in a month on stronger economic data

Stephen Bernard, AP Business Writer, On Friday September 3, 2010, 5:37 pm

NEW YORK (AP) -- The stock market had its first winning week in a month thanks to better news on the economy.

The Dow Jones industrial average jumped 128 points Friday, its fourth straight day of gains. The strong start to September marked a turnaround from a dismal performance in August.

A better-than-expected report on employment Friday was the latest piece of improving news on the economy. Stocks also gained earlier this week following signs that manufacturing was gaining in the U.S. and China.

Even after its four-day run, which added 438 points to the Dow, the index is still 6.8 percent below the 2010 high it reached on April 26. Stocks had eased slightly after a report showed that the services sector didn't grow as fast as hoped in August.

The Labor Department said private employers added 67,000 jobs in August, more than analysts polled by Thomson Reuters had forecast. But that's still a far cry from what economists say is a healthy level for the economy.

"We need to get that number over 100,000 to feel comfortably that we won't slip back into recession," said Bill Hampel, chief economist for the Credit Union National Association. "We need it over 150,000 to feel confident we have a nice, sustainable recovery."

The Dow closed up 127.83, or 1.2 percent, at 10,447.93.

Broader indexes also rose. The Standard & Poor's 500 Index rose 14.41, or 1.3 percent, to 1,104.51, while the Nasdaq composite index rose 33.74, or 1.5 percent, to 2,233.75.

About three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume was relatively light at 3.6 billion shares.

Bond prices fell as sentiment on the economy improved, sending interest rates higher. The yield on the 10-year Treasury note jumped to 2.71 percent from 2.63 percent late Thursday. Its yield is often used as a gauge to set interest rates on mortgages and other consumer loans.

Investors have received more encouraging reports on the economy over the past three days than they did throughout August, when data regularly fell short of the market's already modest expectations. Reports beginning with Wednesday's manufacturing data touched off a rally at the beginning of September, which is historically a bad month for stocks.

There were other encouraging signs in the employment report Friday, including revisions to June and July's reports that showed the economy added more jobs than the government previously said.

More than a half-million Americans resumed their job searches in August. That drove up the unemployment rate to 9.6 percent from 9.5 percent, but it could also be a sign that more people are hopeful about the recovery.

For the week, the Dow is up 2.9 percent, while the S&P 500 and the Nasdaq are both up 3.7 percent. It was the first week of gains in a month for both the Dow and S&P.

The S&P 500, the market gauge most used by professional investors, lost 4.7 percent in July on a string of disappointing economic news. That was the worst August performance for the index since 2001, when the dot-com bubble was bursting.

The Institute for Supply Management said the services sector continued to expand in August, but that growth slowed sharply from the previous month and more than economists predicted. The services sector, which accounts for 80 percent of jobs in the country, has not recovered as strongly as manufacturing.

9939

 

[bigdog]

Source: http://finance.yahoo.com

The NYSE DOW was closed for labor day holiday on Monday September 6
Sym. Last......... ........Change..........
Dow 10,447.93
Nasdaq 2,233.75
S&P 500 1,104.51
30-yr Bond 3.7830%

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,439.19 +11.04 +0.20%
DAX 6,155.04 +20.42 +0.33%
CAC 40 3,684.73 +12.53 +0.34%

Asia
Symbol...... Last...... .....Change
Nikkei 225 9,301.32 +187.19 +2.05%
Hang Seng 21,355.77 +384.27 +1.83%
Straits Times 3,034.58 +32.02 +1.07

http://finance.yahoo.com/news/Growth-hopes-boost-global-rb-1305560269.html?x=0

Growth hopes boost global equities

On Monday September 6, 2010, 12:40 pm EDT
By Jeremy Gaunt, European Investment Correspondent

LONDON (Reuters) - World stocks rose on Monday on hopes the U.S. economy can avoid slipping back into recession, although the International Monetary Fund's chief economist warned of weak growth in both the United States and Europe.

With U.S. markets closed for the Labour Day holiday, Friday's encouraging news about the employment picture continued to spill over into trading on Monday.

Some investors, particularly in Asia, were catching up with the U.S. jobs numbers, which were not as bad as some had feared. The slowing of the world's largest economy has been one of the major factors holding investors back over recent months.

MSCI's all-country world stock index (^MIWD00000PUS - News) and its Thomson Reuters counterpart (^TRXFLDGLPU - News) were up more than 0.4 percent at the European close after a nearly 3.7 percent gain for the MSCI last week.

Europe's FTSEurofirst 300 (^FTEU3 - News) closed slightly higher, up 0.2 percent.

The jobs data was supportive, but utilities shares topped the gainers list after Chancellor Angela Merkel's coalition government agreed to a two-tier extension of the life spans of German nuclear power plants on Sunday.

Trading was also thin because U.S. markets are closed for Labor Day.

Japan's Nikkei (Osaka:^N225 - News) earlier closed up 2.05 percent.

"After a string of disappointing numbers, the data last week provided an element of stability and helped increase risk appetite," said Henk Potts, equity strategist at Barclays Wealth.

"When you couple that with the outlook for corporates, it looks pretty good."

The latest corporate earnings season has been relatively strong in both the United States and Europe while merger and acquisition activity in August was the most robust for the month since 1999.

DOLLAR DIPS

The dollar was generally weaker with the euro rising for a time to its highest in three weeks before easing back.

"We are seeing some relief from fears about a double-dip recession in the U.S. helping risk sentiment and the euro," said Gareth Berry, currency strategist at UBS. "But whether this sentiment can be sustained or not is difficult to say."

IMF chief economist Olivier Blanchard told France's Le Figaro that a U.S. slowdown would have an automatic impact on growth in Asia in the short term but "decoupling" between developing and rich economies is possible in the medium term.

The euro was at $1.2885, having risen to $1.2918 earlier in the day, its highest since August 12.

The dollar index, a gauge of the greenback's performance against a basket of six major currencies, was down 0.1 percent (^DXY - News) and the dollar fell slightly to 84.17 yen, not far from a 15-year low of 83.58 hit late last month.

Euro zone government bond yields were flat to higher.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks closed lower Tuesday following new worries about Europe's debt problems. Treasury prices rose and gold settled at a new high as investors sought out safe assets.

U.S. stocks followed European markets lower after news reports said banks in Europe may have more risky government debt on their books than was disclosed during "stress tests" earlier this year. That could mean fees from regulators and more capital-raising by the banks to bolster their balance sheets.

Shares of major European banks including Barclays PLC and UBS fell, and the dollar rose against the euro.

The NYSE DOW closed LOWER -107.24 points -1.03% on Tuesday September 7
Sym. Last......... ........Change..........
Dow 10,340.69 -107.24 -1.03%
Nasdaq 2,208.89 -24.86 -1.11%
S&P 500 1,091.84 -12.67 -1.15%
30-yr Bond 3.6690% -1.1400

NYSE Volume 3,382,589,750 (prior day 4,157,451,750)
Nasdaq Volume 1,707,358,250 (prior day 1,662,947,500)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,407.82 -31.37 -0.58%
DAX 6,117.89 -37.15 -0.60%
CAC 40 3,643.81 -40.92 -1.11%

Asia
Symbol...... Last...... .....Change
Nikkei 225 9,226.00 -75.32 -0.81%
Hang Seng 21,401.79 +46.02 +0.22%
Straits Times 3,036.09 +1.51 +0.05%

http://finance.yahoo.com/news/Stocks-fall-as-worries-about-apf-1083445120.html?x=0

Stocks fall as worries about European debt return

Stocks start holiday-shortened week with a loss on more worries about European banks

Stephen Bernard, AP Business Writer, On Tuesday September 7, 2010, 5:37 pm

NEW YORK (AP) -- Stocks closed lower Tuesday following new worries about Europe's debt problems. Treasury prices rose and gold settled at a new high as investors sought out safe assets.

U.S. stocks followed European markets lower after news reports said banks in Europe may have more risky government debt on their books than was disclosed during "stress tests" earlier this year. That could mean fees from regulators and more capital-raising by the banks to bolster their balance sheets.

Shares of major European banks including Barclays PLC and UBS fell, and the dollar rose against the euro.

"The soundness of stress tests are, and continue to be, in question," said Brian O'Reilly, president of the Collingwood Group. Uncertainty about the tests could be a drag on the market until European regulators provide some more transparency about exactly what figures were included in the test, O'Reilly said.

The reports renewed worries about European government debt, which had flared up earlier this year following a fiscal crisis in Greece that spread to other weak European economies and helped bring stocks down worldwide.

Stocks had been doing well last week, rallying on improved news about job growth and gains in manufacturing in the U.S. and China. The better economic news helped the market end higher for the week, breaking three straight weeks of losses.

Many investors still have faith the economy is growing, but the pace of that growth is in question. Economic reports have been inconsistent, leaving traders overreacting to every bit of news, said James Angel, professor of finance at Georgetown University's McDonough School of Business.

"What it's going to take to keep (a rally) going is more good news," said Angel said.

The Dow Jones industrial average fell 107.24 points, or 1.0 percent, to close at 10,340.69.

Broader indexes also fell, making for a weak start to a week shortened by the Labor Day holiday on Monday. The Standard & Poor's 500 index lost 12.67, or 1.1 percent, to 1,091.84, while the Nasdaq composite index fell 24.86, or 1.1 percent, to 2,208.89.

About three stocks fell for every one that rose on the New York Stock Exchange, where consolidated volume was very light at 3.2 billion shares.

Volume often starts to pick back up after Labor Day when traders return from summer vacations. But Brian Peardon, a wealth adviser at Harrison Financial Group, said many investors might continue to stay out of the market even when they get back because of uncertainty about the global economy.

"It's very tough for the public to decipher what's happening," Peardon said.

Uncertain investors continue to pour money into Treasurys. The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.60 percent from 2.71 percent late Friday. Its yield is often used as a gauge to set interest rates on mortgages and other consumer loans.

Gold also rose as investors took money out of stocks and sought out other assets seen as having more stable value. Gold for December delivery rose $8.20 to settle at $1,259.30 an ounce.

Several reports later this week could shed more light on the U.S. economy including the "beige book" report from the Federal Reserve coming out on Wednesday and weekly unemployment numbers due out on Thursday.

Shares of Swiss bank UBS dropped 53 cents, or 2.9 percent, to $17.52. Spanish bank Banco Santander fell 48 cents, or 3.8 percent, to $12.20.

Barclays fell $1.15, or 5.7 percent, to $19.13. The British bank also announced Robert E. Diamond Jr., who built the company's global investment bank, will take over as CEO next year.

European markets ended lower. Britain's FTSE 100 fell 0.6 percent, Germany's DAX index dropped 0.6 percent, and France's CAC-40 fell 1.1 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks resumed their rally Wednesday after a successful auction of Portuguese government debt eased worries about Europe's financial system.

The Dow Jones industrial average gained 46 points, and broader indexes also rose. European markets reversed their losses after the results of the auction were announced.

Major indexes pulled back from their highs in the afternoon after the Federal Reserve said more regions of the country saw slower growth late in the summer. The Fed's "beige book" report on regional economic activity showed five of the 12 regions tracked by the Fed showed mixed or slowing activity compared with just two during the most recent report in July.

The NYSE DOW closed HIGHER +46.32 points +0.45% on Wednesday September 8
Sym. Last......... ........Change..........
Dow 10,387.01 +46.32 +0.45%
Nasdaq 2,228.87 +19.98 +0.90%
S&P 500 1,098.87 +7.03 +0.64%
30-yr Bond 3.7230% +0.5400

NYSE Volume 3,518,623,000 (prior day 3,382,589,750)
Nasdaq Volume 2,029,450,875 (prior day 1,707,358,250)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,429.74 +21.92 +0.41%
DAX 6,164.44 +9.40 +0.15%
CAC 40 3,677.21 +33.40 +0.92%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,024.60 -201.40 -2.18%
Hang Seng 21,088.86 -312.93 -1.46%
Straits Times 3,011.42 -24.67 -0.81%

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

Stocks resume rally as European debt worries ease

Easing worries about Europe's financial system send stocks higher

Stephen Bernard, AP Business Writer, On Wednesday September 8, 2010, 5:57 pm

NEW YORK (AP) -- Stocks resumed their rally Wednesday after a successful auction of Portuguese government debt eased worries about Europe's financial system.

The Dow Jones industrial average gained 46 points, and broader indexes also rose. European markets reversed their losses after the results of the auction were announced.

Major indexes pulled back from their highs in the afternoon after the Federal Reserve said more regions of the country saw slower growth late in the summer. The Fed's "beige book" report on regional economic activity showed five of the 12 regions tracked by the Fed showed mixed or slowing activity compared with just two during the most recent report in July.

JPMorgan Chase & Co. and other banks led the market higher, reversing a downturn from the day before. Stocks had fallen on Tuesday, breaking a four-day winning streak, following news reports that European banks held larger amounts of risky government debt on their books than had previously been disclosed.

Energy stocks rose after Fitch Ratings raised its credit rating of BP. BP also released an internal report that largely spread blame from the oil spill in the Gulf of Mexico to rig owner Transocean Ltd. and contractor Halliburton Co. as well as itself.

The Dow Jones industrial average gained 46.32, or 0.5 percent, to close at 10,387.01. The Dow had been up as much as 86 points earlier in the day before paring those gains after the Fed's regional economic report came out.

The S&P 500 index rose 7.03 or 0.6 percent, to 1,098.87, while the Nasdaq rose 19.98, or 0.9 percent, to 2,228.87

The two-day swing based on the ebb and flow of European debt fears fit into a pattern of jittery trading in recent weeks in response to economic news.

"There seems to be a fixation on the latest news and data," said Mike McGervey, president of McGervey Wealth Management. Mixed economic news has helped keep stocks stuck in a tight range in recent weeks.

European markets rose. Britain's FTSE 100 rose 0.4 percent, Germany's DAX index gained 0.8 percent, and France's CAC-40 rose 0.9 percent.

About two stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume was low at 3.3 billion shares.

Volume remains very thin, which means many traders are avoiding stocks altogether. Many investors are waiting to get a better sense of the pace of recovery and to see what might happen during November's elections.

Rick Fier, an equities trader at Conifer Securities, said the elections more than the economy are likely to be the catalyst that moves the market higher in the coming months. Traders are assuming that the recovery will be slow and uneven, but growth will remain in place over the next few months, he said.

Uncertainty about potential tax increases and the costs associated with health care and financial regulatory reform have helped to keep businesses from hiring, which in turn has slowed the recovery. The results of the elections should provide businesses and investors with a clearer sense of those issues.

In corporate news, women's clothing retailer Talbots Inc. said its fiscal second quarter profit rose, but its outlook for the third quarter fell short of expectations. Shares dropped 14 cents to $10.97 on the cautious outlook.

BP shares rose $1.18, or 3.2 percent, to $38.37. Halliburton rose 37 cents to $30.21. JPMorgan Chase rose 86 cents, or 2.3 percent, to $39.14.

Treasury prices bounced off their lows after an auction for 10-year notes was well received by investors. The yield on the 10-year Treasury note, which moves opposite its price, rose to 2.66 percent from 2.60 percent late Tuesday. Its yield helps set interest rates on mortgages and other loans.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks extended their September rally Thursday following more encouraging news on the job market.

The Dow Jones industrial average rose 28 points after the Labor Department said first-time claims for unemployment benefits fell last week to the lowest level in two months. In another hopeful sign on the economy, the trade deficit narrowed in July.

Stocks pared their gains in the afternoon after a report came out saying Deutsche Bank is considering raising new money through a stock sale in what could be another troubling sign for European banks. Trading volume was very light.

The NYSE DOW closed HIGHER +28.23points +0.27% on Thursday September 9
Sym. Last......... ........Change..........
Dow 10,415.24 +28.23 +0.27%
Nasdaq 2,236.20 +7.33 +0.33%
S&P 500 1,104.18 +5.31 +0.48%
30-yr Bond 3.8450% +1.2200

NYSE Volume 3,545,952,500 (prior day 3,518,623,000)
Nasdaq Volume 1,719,498,500 (prior day 2,029,450,875)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,494.16 +64.42 +1.19%
DAX 6,221.52 +57.08 +0.93%
CAC 40 3,722.15 +44.94 +1.22%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,098.39 +73.79 +0.82%
Hang Seng 21,167.27 +78.41 +0.37%
Straits Times 3,022.28 +10.86 +0.36%

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

Stocks extend gains after drop in jobless claims

Another dose of better news on the labor market sends stocks higher, extending September rally

Stephen Bernard, AP Business Writer, On Thursday September 9, 2010, 4:40 pm

NEW YORK (AP) -- Stocks extended their September rally Thursday following more encouraging news on the job market.

The Dow Jones industrial average rose 28 points after the Labor Department said first-time claims for unemployment benefits fell last week to the lowest level in two months. In another hopeful sign on the economy, the trade deficit narrowed in July.

Stocks pared their gains in the afternoon after a report came out saying Deutsche Bank is considering raising new money through a stock sale in what could be another troubling sign for European banks. Trading volume was very light.

The jobs report came in much better than analysts had expected and added to other positive signals on the economy, including a pickup in job creation for August reported last week. Treasury prices and gold fell as investors found themselves with more appetite for risk.

"The employment report is still the king of kings," said Edwin Denson, head of market strategy at Singer Partners LLC. "The labor market is still the indicator, that if it's positive, would give people the most comfort."

Unemployment claims have still not fallen enough to suggest that widespread hiring is around the corner, but investors have taken solace in recent employment news that suggest the economy will continue to grow slowly during the rest of the year. Traders concerned about the potential for the economy to slide back into recession drove stocks lower through most of August.

"All we need is slightly good news ... relative to expectations, and at this point expectations are relatively poor," said Tyler Vernon, principal and portfolio manager at Biltmore Capital Advisors.

Stocks have rallied since the beginning of September on the improving outlook for the economy, and have risen in six out of the past seven days.

The Dow Jones industrial average rose 28.23, or 0.3 percent, to close at 10,415.24. The Dow had risen as much as 90 points earlier.

The Standard & Poor's 500 index rose 5.31, or 0.5 percent, to 1,104.18, while the Nasdaq composite index rose 7.33, or 0.3 percent, to 2,236.20.

Rising stocks outpaced those that fell three to two on the New York Stock Exchange, where volume was extremely low at 840 million shares.

First-time claims for unemployment benefits fell to 451,000 last week, much better than the 470,000 expected by analysts polled by Thomson Reuters. But that's still well above the 400,000 level that economists say is a signal of strong economic growth and job creation.

Bond prices fell, sending the yield on the 10-year Treasury note up to 2.76 percent from 2.66 percent late Wednesday. That yield helps set interest rates on mortgages and other consumer loans.

The Dow had already jumped 3.7 percent in September heading into trading Thursday. Stocks have climbed all but one day so far this month. Major indexes took a pause from the recent rally on Tuesday when worries about European government debt problems flared up early in the week.

There were concerns during the spring that mounting European debt would stunt a global recovery. Stocks fell sharply through much of the spring because of those worries.

Those worries largely dissipated after several European nations successfully auctioned new debt this week. However the Deutsche Bank report, which came out after European markets closed, could again renew questions about whether banks there could handle losses if government's default.

Deutsche Bank shares fell $1.97, or 3.2 percent, to $59.99.

In corporate news, McDonald's Corp. shares dropped as a jump in monthly sales fell short of expectations. The fast-food chain's stock has been climbing steadily throughout the year as sales rose. McDonald's shares fell $1.71, or 2.3 percent, to $74.37.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks extended their September rally Thursday following more encouraging news on the job market.

The Dow Jones industrial average rose 28 points after the Labor Department said first-time claims for unemployment benefits fell last week to the lowest level in two months. In another hopeful sign on the economy, the trade deficit narrowed in July.

Stocks pared their gains in the afternoon after a report came out saying Deutsche Bank is considering raising new money through a stock sale in what could be another troubling sign for European banks. Trading volume was very light.

The NYSE DOW closed HIGHER +47.53 points +0.46% on Friday September 10
Sym. Last......... ........Change..........
Dow 10,462.77 +47.53 +0.46%
Nasdaq 2,242.48 +6.28 +0.28%
S&P 500 1,109.55 +5.37 +0.49%
30-yr Bond 3.8730% +0.2800

NYSE Volume 3,181,133,750 (prior day 3,545,952,500)
Nasdaq Volume 1,708,366,000 (prior day 1,719,498,500)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,501.64 +7.48 +0.14%
DAX 6,214.77 -6.75 -0.11%
CAC 40 3,725.82 +3.67 +0.10%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,239.17 +140.78 +1.55%
Hang Seng 21,257.39 +90.12 +0.43%
Straits Times 3,022.28 +10.86 +0.36%

http://finance.yahoo.com/news/Stocks-extend-gains-after-apf-2733638228.html?x=0#Scene_1

Stocks extend gains after drop in jobless claims

Another dose of better news on the labor market sends stocks higher, extending September rally

Stephen Bernard, AP Business Writer, On Thursday September 9, 2010, 5:59 pm EDT

NEW YORK (AP) -- Stocks extended their September rally Thursday following more encouraging news on the job market.

The Dow Jones industrial average rose 28 points after the Labor Department said first-time claims for unemployment benefits fell last week to the lowest level in two months. In another hopeful sign on the economy, the trade deficit narrowed in July.

Stocks pared their gains in the afternoon after a report came out saying Deutsche Bank is considering raising new money through a stock sale in what could be another troubling sign for European banks. Trading volume was very light.

The jobs report came in much better than analysts had expected and added to other positive signals on the economy, including a pickup in job creation for August reported last week. Treasury prices and gold fell as investors found themselves with more appetite for risk.

"The employment report is still the king of kings," said Edwin Denson, head of market strategy at Singer Partners LLC. "The labor market is still the indicator, that if it's positive, would give people the most comfort."

Unemployment claims have still not fallen enough to suggest that widespread hiring is around the corner, but investors have taken solace in recent employment news that suggest the economy will continue to grow slowly during the rest of the year. Traders concerned about the potential for the economy to slide back into recession drove stocks lower through most of August.

"All we need is slightly good news ... relative to expectations, and at this point expectations are relatively poor," said Tyler Vernon, principal and portfolio manager at Biltmore Capital Advisors.

Stocks have rallied since the beginning of September on the improving outlook for the economy, and have risen in six out of the past seven days.

The Dow Jones industrial average rose 28.23, or 0.3 percent, to close at 10,415.24. The Dow had risen as much as 90 points earlier.

The Standard & Poor's 500 index rose 5.31, or 0.5 percent, to 1,104.18, while the Nasdaq composite index rose 7.33, or 0.3 percent, to 2,236.20.

Rising stocks outpaced those that fell three to two on the New York Stock Exchange, where consolidated volume was extremely low at 3.5 billion shares.

First-time claims for unemployment benefits fell to 451,000 last week, much better than the 470,000 expected by analysts polled by Thomson Reuters. But that's still well above the 400,000 level that economists say is a signal of strong economic growth and job creation.

Bond prices fell, sending the yield on the 10-year Treasury note up to 2.76 percent from 2.66 percent late Wednesday. That yield helps set interest rates on mortgages and other consumer loans.

The Dow had already jumped 3.7 percent in September heading into trading Thursday. Stocks have climbed all but one day so far this month. Major indexes took a pause from the recent rally on Tuesday when worries about European government debt problems flared up early in the week.

There were concerns during the spring that mounting European debt would stunt a global recovery. Stocks fell sharply through much of the spring because of those worries.

Those worries largely dissipated after several European nations successfully auctioned new debt this week. However the Deutsche Bank report, which came out after European markets closed, could again renew questions about whether banks there could handle losses if government's default.

Deutsche Bank shares fell $1.97, or 3.2 percent, to $59.99.

In corporate news, McDonald's Corp. shares dropped as a jump in monthly sales fell short of expectations. The fast-food chain's stock has been climbing steadily throughout the year as sales rose. McDonald's shares fell $1.71, or 2.3 percent, to $74.37.

0352

 

[bigdog]

Source: http://finance.yahoo.com

Investors looking for reassurance about the health of the global economy received just that Monday.

Stocks extended their rally into a third week after global regulators agreed to new rules for how much money banks must hold in reserves, China reported its economy remains robust and companies announced a flurry of takeovers.

"The package of catalysts is a perfect backdrop for a market trying to confirm global economic growth," said Quincy Krosby, a market strategist at Prudential Financial. Dealmaking and the expansion in China further reduced worries about the economy falling back into recession, Krosby said.

The Dow Jones industrial average rose 81 points for its eighth gain in the past nine days. The Dow did close off its high after some traders pulled money out of retail stocks ahead of the government's monthly retail sales report due out Tuesday.


The NYSE DOW closed HIGHER +81.36 points +0.78% on Monday September 13
Sym. Last......... ........Change..........
Dow 10,544.13 +81.36 +0.78%
Nasdaq 2,285.71 +43.23 +1.93%
S&P 500 1,121.90 +12.35 +1.11%
30-yr Bond 3.8420% -0.3100

NYSE Volume 3,961,239,250 (prior day 3,181,133,750)
Nasdaq Volume 1,984,896,880 (prior day 1,708,366,000)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,565.53 +63.89 +1.16%
DAX 6,261.68 +46.91 +0.75%
CAC 40 3,767.15 +41.33 +1.11%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,321.82 +82.65 +0.89%
Hang Seng 21,658.35 +400.96 +1.89%
Straits Times 3,066.81 +44.53 +1.47%

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

Stocks climb on bank reform, China growth, deals

Stocks extend rally on banking reform pact, China's growth, corporate deals

Stephen Bernard, AP Business Writer, On Monday September 13, 2010, 5:59 pm EDT

NEW YORK (AP) -- Investors looking for reassurance about the health of the global economy received just that Monday.

Stocks extended their rally into a third week after global regulators agreed to new rules for how much money banks must hold in reserves, China reported its economy remains robust and companies announced a flurry of takeovers.

"The package of catalysts is a perfect backdrop for a market trying to confirm global economic growth," said Quincy Krosby, a market strategist at Prudential Financial. Dealmaking and the expansion in China further reduced worries about the economy falling back into recession, Krosby said.

The Dow Jones industrial average rose 81 points for its eighth gain in the past nine days. The Dow did close off its high after some traders pulled money out of retail stocks ahead of the government's monthly retail sales report due out Tuesday.

But overall sentiment remained positive, pushing major indexes to their highest closes in more than a month and the Standard & Poor's 500 and Nasdaq composite indexes back into positive territory for the year.

Hewlett-Packard Co. agreed to purchase security software provider ArcSight Inc. and Dollar Thrifty Automotive Group Inc. said it accepted Hertz Global Holdings Inc.'s acquisition offer. Acquisitions are often a sign that companies are confident the economy is going to expand soon.

Global regulators agreed to reforms that could help avoid another credit crisis like the one that plagued financial markets worldwide in 2008 and early 2009. Banks will gradually have to increase their reserves to protect against potential losses.

"The agreement itself was a little lighter than expected," said Mitch Schlesinger, managing director at FBB Capital. Because reserve requirements will be rolled out slowly and not be quite as strong as expected, it reduces short-term worries that banks would have to further cut back on lending and raise cash quickly to meet new standards, Schlesinger said.

The new regulations have added to confidence in Europe's banks, which have been slower than their U.S. counterparts to bolster reserves. European markets rose sharply Monday.

Investors entered trading in the U.S. Monday already heartened by the latest signs of growth out of China. The country reported industrial production accelerated again in August when many had predicted slower growth. Strong expansion in China is considered vital to a global recovery because if demand remains high there, it will offset sluggish growth in the U.S. where economic expansion is not as strong.

The Dow rose 81.36, or 0.8 percent, to 10,544.13. The S&P 500 index rose 12.35, or 1.1 percent, to 1,121.90, while the Nasdaq composite rose 43.23, or 1.9 percent, to 2,285.71.

More than three stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 3.8 billion shares.

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

JPMorgan Chase & Co. and Bank of America Corp. were among the biggest gainers in the financial sector. JPMorgan Chase rose $1.36, or 3.4 percent, to $41.12, while Bank of America rose 40 cents, or 3 percent, to $13.95.

Hewlett-Packard, which has been buying up smaller companies in recent months, will pay $1.5 billion, or $43.50 per share, in cash for ArcSight. ArcSight jumped $8.81, or 25 percent, to $43.91, while Hewlett-Packard rose 8 cents to $38.28.

Hertz agreed to pay $1.43 billion, or $50 per share, for Dollar Thrifty, beating out competitor Avis Budget Group Inc. in a bidding war to acquire the rival rental car company. Dollar Thrifty rose $2.57, or 5.4 percent, to $50.58, while Hertz rose 79 cents, or 7.9 percent, to $10.84.

Andrew Neale, a portfolio manager at Fogel Neale Partners said the acquisition activity is "crucial for investors" because when companies are confident and investing money, it adds to investor confidence.

Oil prices continued to rise as a leak in a pipeline that supplies oil to refineries in the Midwest remains closed. Benchmark crude rose 74 cents to settle at $77.19 a barrel on the New York Mercantile Exchange.

Treasury prices rose modestly, indicating not all investors were confident in the latest signs of growth. The yield on the 10-year Treasury note, which moves opposite its price, dipped to 2.75 percent from 2.79 late Friday. Its yield is often used to help set interest rates on mortgages and other consumer loans.

 

[bigdog]

Source: http://finance.yahoo.com

A September rally faltered on the stock market Tuesday as worries returned about Europe's economy.

The Dow Jones industrial average and the Standard & Poor's 500 index both closed with slight losses, breaking a four-day winning streak. Stocks are still up strongly this September, a historically weak month for the market.

Stocks had edged higher for much of the day following positive reports on U.S. retail sales and business inventories, but retreated in the final 10 minutes of trading as investors' enthusiasm waned.

Disappointing news from overseas hung over the market all day. European markets struggled to end barely higher after reports that German investor confidence fell sharply in September and industrial production unexpectedly stagnated during July in the countries that use the euro. Stocks in Tokyo also fell after the yen touched another 15-year high against the dollar, which is bad news for Japanese exporters.

The NYSE DOW closed LOWER -17.64 points -0.17% on Tuesday September 14
Sym. Last......... ........Change..........
Dow 10,526.49 -17.64 -0.17%
Nasdaq 2,289.77 +4.06 +0.18%
S&P 500 1,121.10 -0.80 -0.07%
30-yr Bond 3.7860% -0.5600

NYSE Volume 3,953,875,250 (prior day 3,961,239,250)
Nasdaq Volume 2,106,687,000 (prior day 1,984,896,880)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,567.41 +1.88 +0.03%
DAX 6,275.41 +13.73 +0.22%
CAC 40 3,774.40 +7.25 +0.19%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,299.31 -22.51 -0.24%
Hang Seng 21,696.04 +37.69 +0.17%
Straits Times 3,048.65 -18.16 -0.59%

http://finance.yahoo.com/news/Stocks-edge-lower-breaking-apf-55679208.html?x=0

Stocks edge lower, breaking 4-day winning streak

September rally falters on the stock market; Dow and S&P 500 break 4-day winning streak

Stephen Bernard, AP Business Writer, On Tuesday September 14, 2010, 6:01 pm

NEW YORK (AP) -- A September rally faltered on the stock market Tuesday as worries returned about Europe's economy.

The Dow Jones industrial average and the Standard & Poor's 500 index both closed with slight losses, breaking a four-day winning streak. Stocks are still up strongly this September, a historically weak month for the market.

Stocks had edged higher for much of the day following positive reports on U.S. retail sales and business inventories, but retreated in the final 10 minutes of trading as investors' enthusiasm waned.

Disappointing news from overseas hung over the market all day. European markets struggled to end barely higher after reports that German investor confidence fell sharply in September and industrial production unexpectedly stagnated during July in the countries that use the euro. Stocks in Tokyo also fell after the yen touched another 15-year high against the dollar, which is bad news for Japanese exporters.

In other signs that investors remain cautious, gold climbed to another record and Treasury prices rose, sending interest rates lower.

The Dow fell 17.64, or 0.2 percent, to close at 10,526.49 and the S&P 500 lost 0.8 point, or 0.1 percent, to end at 1,121.10.

The Nasdaq edged up 4.06, or 0.2 percent, at 2,289.77.

Signs of modest growth have been enough to get traders to put more money into stocks in September and shake off malaise about the economy that dogged the market for most of August.

However analysts caution that the gains have come amid very light volume, a sign that many investors aren't participating in the market and may still be skeptical about how well the economy is doing.

The losses Tuesday for the Dow and S&P 500 were only the second so far this month. The earlier loss on Sept. 7 was also triggered about renewed worries over Europe after news reports questioned the health of European banks.

September is usually a weak month for stocks but this year has been an exception. Even after Tuesday's losses the Dow is still up 5.1 percent in September, but 6.1 percent below its 2010 high reached on April 26. For the year to date it's up 0.9 percent.

The Commerce Department said Tuesday that retail sales rose in August at their fastest pace in five months and slightly beat forecasts. The modestly higher growth is in line with economic reports over the past two weeks indicating that the economy continues to expand, though at a sluggish pace.

Retailers including Macy's Inc. and J.C. Penney Co. rose after the retail sales report. Electronics retailer Best Buy Co. also jumped after the company reported income that easily topped forecasts and raised its full-year outlook.

The primary question investors are still struggling with is, "does the economy just muddle along?" asked Michael Sheldon, chief market strategist at RDM Financial Group. He predicted the economy is more likely to continue to grow slowly than to fall back into recession.

In another encouraging sign on the economy, business inventories jumped in July by their largest amount in two years and business sales rebounded after two months of declines. The upturn followed months of weak sales as people remain worried about keeping their jobs.

Falling stocks slightly outpaced gaining ones on the New York Stock Exchange, where consolidated volume was relatively low at 3.8 billion shares.

Bond prices rose, driving down interest rates. The yield on the 10-year Treasury note, which moves in the opposite direction as its price, fell to 2.67 percent from 2.75 percent late Monday. Its yield is used as a gauge to set interest rates on mortgages and other consumer loans.

Gold hit a record earlier in the day, climbing as high as $1,276.50 an ounce, before settling at $1,271.70 an ounce.

European stock indexes rebounded after initially falling on the German and European economic reports. Britain's FTSE 100 rose less than 0.1 percent, while Germany's DAX index gained 0.2 percent. France's CAC-40 rose 0.2 percent.

The Japanese yen hit another 15-year high against the dollar, which is bad for Japanese exporters. Japan's Nikkei stock average fell 0.2 percent, getting the global trading day off to a sluggish start.

Macy's rose 60 cents, or 2.9 percent, to $21.65, while J.C. Penney climbed $1.66, or 7.4 percent, to $23.99. Best Buy jumped $2.08, or 6 percent, to $36.73.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks overcame an early slide Wednesday and closed higher as investors tried to keep a September rally alive.

Major indexes had opened lower after a poor reading on factory activity in New York, but turned higher around midday after getting better news on U.S. industrial production. That report showed that the national industrial sector grew for the 12th time 14 months.

Better news on manufacturing was the main trigger behind the rally that began in early September and has now propelled stocks higher on nine out of the past 11 days. The Dow Jones industrial average, which gained 46 points Wednesday, is up 5.6 percent over that time.

The NYSE DOW closed HIGHER +46.24 points +0.44% on Wednesday September 15
Sym. Last......... .......Change..........
Dow 10,572.73 +46.24 +0.44%
Nasdaq 2,301.32 +11.55 +0.50%
S&P 500 1,125.07 +3.97 +0.35%
30-yr Bond 3.8740% +0.8800

NYSE Volume 3,617,492,750 (prior day 3,953,875,250)
Nasdaq Volume 2,085,158,125 (prior day 2,106,687,000)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,557.07 -10.34 -0.19%
DAX 6,261.87 -13.54 -0.22%
CAC 40 3,755.64 -18.76 -0.50%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,516.56 +217.25 +2.34%
Hang Seng 21,725.64 +29.60 +0.14%
Straits Times 3,071.03 +22.38 +0.73%

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

Stocks edge higher, keeping September rally alive

Stocks overcome an early slide and end higher, continuing a September rally

Stephen Bernard, AP Business Writer, On Wednesday September 15, 2010, 5:50 pm EDT

NEW YORK (AP) -- Stocks overcame an early slide Wednesday and closed higher as investors tried to keep a September rally alive.

Major indexes had opened lower after a poor reading on factory activity in New York, but turned higher around midday after getting better news on U.S. industrial production. That report showed that the national industrial sector grew for the 12th time 14 months.

Better news on manufacturing was the main trigger behind the rally that began in early September and has now propelled stocks higher on nine out of the past 11 days. The Dow Jones industrial average, which gained 46 points Wednesday, is up 5.6 percent over that time.

In corporate news, MasterCard Inc. rose sharply after saying it expects its income to rise at least 20 percent this year. Shares rose $10.43, or 5.2 percent, to $210.18.

Kraft Foods Inc., known for brands like Nabisco and Maxwell House, rose after saying its earnings would jump between 9 percent and 11 percent over the next three years thanks to growth in developing markets. Shares rose 53 cents to $31.58 and earlier hit a new high for the year.

Stocks rose sharply during the first half of the month, even though September is historically a weak period for the market. A strong manufacturing report from the Institute for Supply Management set off the rally two weeks ago.

The Dow Jones industrial average rose 46.24, or 0.4 percent, to close at 10,572.73. It was the index's highest close since Aug. 10. The Dow still 5.6 percent below its 2010 high reached on April 26, and up only 1.4 percent for the year to date following steep declines in May and June.

Broader indexes also rose. The Standard & Poor's 500 index gained 3.97, or 0.4 percent, to 1,125.07 and the Nasdaq composite rose 11.55, or 0.5 percent, to 2,301.32.

Traders Wednesday focused more on the industrial production report, setting aside a disappointing reading on manufacturing activity in New York. The Empire State Manufacturing Survey Index, which measured activity in the state in September, came in well below forecasts.

European markets were mainly lower, but stocks in Japan surged 2.3 percent after the country's government stepped in to weaken the yen. The yen had been hitting 15-year highs against the dollar, which makes it harder for Japanese exporters to compete on global markets.

Japan sold an undisclosed amount of yen in foreign exchange markets to weaken its currency, which was threatening to endanger manufacturers like Toyota Motor Corp. and Sony Corp. that export goods around the world. The dollar rose 3 percent against the yen.

Treasury prices edged lower. The yield on the 10-year Treasury note, which moves opposite its price, rose to 2.72 percent from 2.67 percent late Tuesday. Its yield is often used to help set interest rates on mortgages and other consumer loans.

Rising stocks slightly outpaced falling ones on the New York Stock Exchange, where consolidated volume came to 3.5 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks struggled to a mixed finish Thursday as a two-week rally lost momentum. News of a retrenchment by FedEx Corp. also discouraged buyers.

Stocks have been rising for most of September, but on unusually weak volume as skepticism lingers about the economy. FedEx, an economic bellwether, darkened the mood with an announcement that it would eliminate 1,700 jobs in an effort to save its money-losing U.S. trucking business.

Traders were becoming wary as the Standard & Poor's S&P 500 index, the benchmark most used by professional investors, approached the high end of its recent trading range. Investors are often hesitant to push a major index outside of recently tested limits for fear that automated selling programs could kick in and send prices lower.

The NYSE DOW closed HIGHER +22.10 points +0.21% on Thursday September 16
Sym. Last......... .......Change..........
Dow 10,594.83 +22.10 +0.21%
Nasdaq 2,303.25 +1.93 +0.08%
S&P 500 1,124.66 -0.41 -0.04%
30-yr Bond 3.9230% +0.4900

NYSE Volume 3,582,255,250 (prior day 3,617,492,750)
Nasdaq Volume 1,825,339,380 (prior day 2,085,158,125)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,540.14 -15.42 -0.28%
DAX 6,249.65 -12.22 -0.20%
CAC 40 3,736.30 -19.34 -0.51%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,509.50 -7.06 -0.07%
Hang Seng 21,691.45 -34.19 -0.16%
Straits Times 3,067.11 -3.92 -0.13%

http://finance.yahoo.com/news/Stock...4.html?x=0&sec=topStories&pos=5&asset=&ccode=

Stocks end mixed as September rally loses steam

Stocks struggle to a mixed finish as a September rally weakens; FedEx disappoints

Stephen Bernard, AP Business Writer, On Thursday September 16, 2010, 4:51 pm

NEW YORK (AP) -- Stocks struggled to a mixed finish Thursday as a two-week rally lost momentum. News of a retrenchment by FedEx Corp. also discouraged buyers.

Stocks have been rising for most of September, but on unusually weak volume as skepticism lingers about the economy. FedEx, an economic bellwether, darkened the mood with an announcement that it would eliminate 1,700 jobs in an effort to save its money-losing U.S. trucking business.

Traders were becoming wary as the Standard & Poor's S&P 500 index, the benchmark most used by professional investors, approached the high end of its recent trading range. Investors are often hesitant to push a major index outside of recently tested limits for fear that automated selling programs could kick in and send prices lower.

Over the past few days the S&P has approached 1,131, a level it has not touched since June. Market analysts have long paid attention to technical trading levels such as these, but they are especially important now since electronic trading is so prevalent.

According to preliminary calculations, the Dow Jones industrial average rose 22.10, or 0.2 percent, to close at 10,594.83. The Dow has now risen in 10 of the last 12 days.

Broader indexes were mixed. The Standard & Poor's 500 index fell 0.4, or 0.04 percent, to 1,124.66. The index is still up 7.2 percent for September, which is usually a weak month for stocks.

The Nasdaq composite edged up 1.93, or 0.08 percent, to 2,303.25.

About three stocks fell for every two that rose on the New York Stock Exchange, where volume was low at 900 million shares. Trading volume has been very low in recent weeks as many investors sit on the sidelines. That could leave the market vulnerable if sentiment suddenly worsens.

The mixed day on Wall Street came despite some encouraging news on the economy. The Labor Department said first-time claims for unemployment benefits fell to a two-month low last week to 450,000. They're still well below levels that suggest economic growth.

"Bottom line, everybody is worried the economy is in terrible shape," said Dennis Paul, a senior portfolio manager at the Rosenau/Paul Group at Hightower Advisors. "But it's not getting any worse."

A separate report Thursday indicated prices at the wholesale level rose more than expected last month, easing concerns about deflation, an economic malaise defined by falling prices. Relief over the reading in the Producer Price Index sent Treasury prices slightly lower and their yields higher.

The yield on the 10-year Treasury note, which moves opposite its price, rose to 2.76 percent from 2.72 percent late Wednesday. Its yield is used to help set interest rates on mortgages and other consumer loans.

"I'm not sure the deflation theory is completely debunked, but it's pretty close," said Jamie Cox, a managing director at Harris Financial Group.

FedEx shares dropped $3.22, or 3.8 percent, to $82.72. Competitor UPS Inc.'s shares also fell following the report from Fed. UPS dropped 94 cents to $66.72.

 

[bigdog]

Source: http://finance.yahoo.com

For the week, the Dow and S&P are both up 1.4 percent, and the Nasdaq is up 3.3 percent

Stocks gave up most of their gains to end slightly higher Friday, extending a September rally that has slowed as the month wore on.

The Dow Jones industrial tacked on 13 points, while the Standard & Poor's 500 Index edged up less than a point. Both traded close to the breakeven level all day. The Dow and other major indexes logged their third-straight weekly advance.

The market started out on an up note following surprisingly strong profit news late Thursday from technology leaders Oracle Corp. and Research in Motion Ltd., which makes BlackBerrys.

The NYSE DOW closed HIGHER +13.02 points +0.12% on Friday September 17
Sym. Last......... .......Change..........
Dow 10,607.85 +13.02 +0.12%
Nasdaq 2,315.61 +12.36 +0.54%
S&P 500 1,125.59 +0.93 +0.08%
30-yr Bond 3.9110% -0.1200

NYSE Volume 4,820,005,500 (prior day 3,582,255,250)
Nasdaq Volume 2,598,681,500 (prior day 1,825,339,380)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,508.45 -31.69 -0.57%
DAX 6,209.76 -39.89 -0.64%
CAC 40 3,722.02 -14.28 -0.38%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,626.09 +116.59 +1.23%
Hang Seng 21,970.86 +279.41 +1.29%
Straits Times 3,076.37 +9.26 +0.30%

http://finance.yahoo.com/news/Stocks-edge-higher-on-apf-275613298.html?x=0

Stocks edge higher on positive tech earnings news

Stocks inch higher following good earnings news from Oracle and Research in Motion

Stephen Bernard, AP Business Writer, On Friday September 17, 2010, 5:17 pm

NEW YORK (AP) -- Stocks gave up most of their gains to end slightly higher Friday, extending a September rally that has slowed as the month wore on.

The Dow Jones industrial tacked on 13 points, while the Standard & Poor's 500 Index edged up less than a point. Both traded close to the breakeven level all day. The Dow and other major indexes logged their third-straight weekly advance.

The market started out on an up note following surprisingly strong profit news late Thursday from technology leaders Oracle Corp. and Research in Motion Ltd., which makes BlackBerrys.

Technology and industrial shares were broadly higher, though energy companies were weak following a drop in crude oil. A decline in a measure of consumer confidence from the University of Michigan/Reuters also kept a lid on buying. Gold set another record and Treasury prices edged higher in a sign that investors remain cautious.

The Standard & Poor's 500 Index, the measure used most widely by professional investors, briefly edged above a technical trading threshold, but not enough to convince analysts that the market is ready to move sharply higher. Stocks have been on a nearly unbroken upward march in September, driving the S&P up 7.3 percent.

Traders watch such technical barriers closely for clues about where the market might go next. Right now the key level for the S&P 500 is 1,131, its intraday high for June 21 and the top end of its recent trading range. It barely peeked over that level Friday but failed to stay above it, a sign that the market needs more fuel, in the form of good news on the economy or corporate profits, before moving higher again.

Uri Landesman, president of Platinum Partners, said if the S&P can rally past 1,131, it could surge even further in the next couple of weeks. But if it cannot significantly eclipse that level and falls back below 1,115, roughly its low for the week, "we could go to 1,000 pretty fast," Landesman said.

The Dow Jones industrial average rose 13.02, or 0.1 percent, to close at 10,607.85. The Dow is up 5.9 percent in the month to date, defying skeptics who predicted a decline in September, which is historically a weak one for stocks. It has risen in seven of the past eight days.

The Standard & Poor's 500 index inched up 0.93, or 0.08 percent, to 1,125.59, and the Nasdaq composite rose 12.36, or 0.5 percent, to 2,315.61.

For the week, the Dow and S&P are both up 1.4 percent, and the Nasdaq is up 3.3 percent.

The Dow also had three straight weeks of gains in mid- to late July as many big companies delivered positive earnings surprises. However stocks spent most of August in a funk before turning higher again in September as news on the economy started to improve.

In corporate news, Oracle reported fiscal first-quarter earnings that easily topped forecasts after the market closed Thursday. Shares jumped $2.12, or 8.4 percent, to $27.48

Research in Motion also reported a big jump in earnings as it added new subscribers. Investors have been worried about competition to the BlackBerry from Apple Inc.'s iPhone and mobile phones run on Google Inc.'s Android technology. Shares closed up 23 cents at $46.72 but traded as high as $48.74 earlier

Money flowed into Treasurys again after the weak consumer sentiment reading and a report from the Labor Department showed consumer prices rose slightly in August.

Tim Rood, a managing director at The Collingwood Group, said the report on consumer prices might not have been enough to quell concerns about potential deflation. That could force the Federal Reserve to re-enter the bond market and buy more Treasurys and mortgages bonds in an effort to stimulate the economy.

"Just when you think they're all in ... they essentially have to double down," Rood said of the Fed. The central bank ended similar policies, known as quantitative easing, earlier this year only to have growth stagnate.

The yield on the 10-year note, which moves opposite to its price, fell to 2.74 percent from 2.76 percent late Thursday. Its yield is often used to set interest rates on mortgages and other consumer loans.

Gold touched a new record high again Friday of $1,284.40 an ounce before pulling back to $1,277.50 an ounce.

Benchmark oil for October delivery fell 91 cents to settle at $73.66 a barrel on the New York Mercantile Exchange, helping to send energy shares lower. Chevron fell 59 cents to $78.46.

About four stocks rose for every three that fell on the New York Stock Exchange, where volume was heavy at 1.9 billion shares.

Volume was exceptionally high because of the simultaneous expiration of a series of futures and options contracts on stocks and stock indexes.

0811

 

[bigdog]

Source: http://finance.yahoo.com

Stocks rose to their highest level in four months Monday as hopes grew for more action by the Federal Reserve to prop up the economy. The gains extended the market's rally into a fourth consecutive week.

Buying accelerated after the Standard & Poor's 500 index, the market measure most often used by professional traders, broke through the high end of its recent range. Technical analysts see that as a bullish sign.

The Dow Jones industrial average jumped 146 points to its highest close since May 13. An announcement from a group of economists declaring that the recession ended in June 2009 was a mild positive, but that assessment was in line with what many analysts already believed.

The NYSE DOW closed HIGHER +145.77 points +1.37% on Monday September 20
Sym. Last......... .......Change..........
Dow 10,753.62 +145.77 +1.37%
Nasdaq 2,355.83 +40.22 +1.74%
S&P 500 1,142.71 +17.12 +1.52%
30-yr Bond 3.8660% -0.4500

NYSE Volume 4,016,912,500 (prior day 4,820,005,500)
Nasdaq Volume 2,020,510,380 (prior day 2,598,681,500)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,602.54 +94.09 +1.71%
DAX 6,294.58 +84.82 +1.37%
CAC 40 3,788.01 +65.99 +1.77%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,626.09 +116.59 +1.23%
Hang Seng 21,977.34 +6.48 +0.03%
Straits Times 3,080.98 +4.61 +0.15%

http://finance.yahoo.com/news/Stocks-extend-Sept-rally-SP-apf-1733156566.html?x=0

Stocks extend Sept. rally; S&P breaks out of range

Stocks push September rally into fourth week; drive S&P 500 to highest level in 4 months

Stephen Bernard, AP Business Writer, On Monday September 20, 2010, 5:46 pm

NEW YORK (AP) -- Stocks rose to their highest level in four months Monday as hopes grew for more action by the Federal Reserve to prop up the economy. The gains extended the market's rally into a fourth consecutive week.

Buying accelerated after the Standard & Poor's 500 index, the market measure most often used by professional traders, broke through the high end of its recent range. Technical analysts see that as a bullish sign.

The Dow Jones industrial average jumped 146 points to its highest close since May 13. An announcement from a group of economists declaring that the recession ended in June 2009 was a mild positive, but that assessment was in line with what many analysts already believed.

Deal news also helped lift shares. IBM Corp. said it would buy data storage provider Netezza Corp. for about $1.7 billion in cash. Investors see acquisitions as a sign companies are more comfortable spending cash to expand, and suggests that other stocks may also become targets for buyers.

The Fed meets Tuesday to discuss interest rates, and investors are hoping for a sign that the central bank might make more moves to keep rates low. There is a growing expectation that the Fed's rate-setting committee could relaunch programs to buy Treasurys and mortgage bonds in an effort to stimulate the economy. At the very least, it might hint at future plans.

"The Fed will hint at it, put it on the table, but not do anything," predicted Brian Gendreau, a market strategist at Financial Network Investment Corp.

A number of economic indicators have topped forecasts in recent weeks, propelling stocks higher, but the economy is far from strong. If the Fed starts buying bonds again it could drive interest rates lower, enabling companies and consumers to get cheaper loans. The Fed had a similar bond-buying program in place earlier this year.

The Dow Jones industrial average rose 145.77 points, or 1.4 percent, to close at 10,753.62. The Dow has now risen in 12 of the last 14 days.

The Standard & Poor's 500 index rose 17.12, or 1.5 percent, to 1,142.71. The Nasdaq composite rose 40.22, or 1.7 percent, to 2,355.83.

The S&P 500 climbed solidly above the key technical level of 1,131, the high end of its recent trading range. The S&P briefly crossed that barrier on Friday for the first time since June 21, but not for long enough to convince analysts that the market had enough momentum to surge higher.

Many automatic buy and sell orders are set around market milestones such as these, and investors watch those levels closely for clues about which way the market may go next.

Five stocks rose for every one that fell on the New York Stock Exchange, where volume came to 955 million shares.

Investors have been encouraged by better economic reports this month, especially on jobs and manufacturing, to send stocks steadily higher in September. The Dow is up 7.4 percent in the month to date, the S&P 8.9 percent. The gains have defied predictions that September would follow a historical pattern of being dismal for stocks.

Investors also see hope in a softer stance in recent weeks by President Barack Obama's administration about tax and business-related programs. Keith Goddard, co-manager of the Capital Advisors Growth Fund, said a shift in policy could mean the Bush-era tax cuts will be extended. That would help dividend-paying stocks, which have been in "no man's land" recently because investors are uncertain the tax rate they'll have to pay on the dividends, Goddard said.

Extending the tax cuts and announcing other policies like a payroll tax holiday could be "worth a 10 percent move in the stock market," Goddard said.

Deal news sent IBM shares up $1.60, or 1.2 percent, to $131.79. Its acquisition target, Netezza, rose $3.67, or 14.9 percent, to $28.27.

Bond prices barely budged as investors await word Tuesday from the Fed. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.71 percent from 2.74 percent late Friday.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks got a brief bump following word that the Federal Reserve is ready to do more to help the economy, but ended mostly lower Tuesday after the central bank disappointed some investors by not taking any bold new actions.

Treasury prices rallied as investors saw the Fed's announcement as a signal that more bond purchases were on the way.

The Fed said it is concerned that inflation is below levels consistent with a healthy economy and indicated that it is ready to provide "additional accommodation" to support the recovery. That would mean more purchases of Treasurys or other kinds of debt, which would keep interest rates low and hopefully encourage borrowing.

"They left themselves as much room as they possibly could," said Bill Stone, chief investment strategist at PNC Wealth Management. "In the bond world, the coast is clear for buyers."

The NYSE DOW closed HIGHER +7.41 points +0.07% on Monday September 21
Sym. Last......... .......Change..........
Dow 10,761.03 +7.41 +0.07%
Nasdaq 2,349.35 -6.48 -0.28%
S&P 500 1,139.78 -2.93 -0.26%
30-yr Bond 3.7850% -0.8100

NYSE Volume 4,403,560,000 (prior day 4,016,912,500)
Nasdaq Volume 1,936,348,875 (prior day 2,020,510,380)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,576.19 -26.35 -0.47%
DAX 6,275.98 -18.60 -0.30%
CAC 40 3,784.40 -3.61 -0.10%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,602.11 -23.98 -0.25%
Hang Seng 22,002.59 +25.25 +0.11%
Straits Times 3,095.39 +14.41 +0.47%

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

Stocks mixed as Fed leaves door open for stimulus

Stocks give up gains as Fed hints at, but doesn't immediately take, action on economy

Stephen Bernard, AP Business Writer, On Tuesday September 21, 2010, 5:42 pm

NEW YORK (AP) -- Stocks got a brief bump following word that the Federal Reserve is ready to do more to help the economy, but ended mostly lower Tuesday after the central bank disappointed some investors by not taking any bold new actions.

Treasury prices rallied as investors saw the Fed's announcement as a signal that more bond purchases were on the way.

The Fed said it is concerned that inflation is below levels consistent with a healthy economy and indicated that it is ready to provide "additional accommodation" to support the recovery. That would mean more purchases of Treasurys or other kinds of debt, which would keep interest rates low and hopefully encourage borrowing.

"They left themselves as much room as they possibly could," said Bill Stone, chief investment strategist at PNC Wealth Management. "In the bond world, the coast is clear for buyers."

Treasurys rose sharply after the Fed's announcement, sending interest rates lower. The yield on the 10-year Treasury note fell sharply to 2.58 percent from 2.70 percent the day before, while its price jumped $1.03 to $100.34. The yield is a common benchmark for setting interest rates on corporate debt and mortgages.

The Fed's statement, which came after a one-day meeting of its interest rate committee, had only a temporary effect on stocks. Hopes had been building that Tuesday would bring news of a specific new bond-purchasing program, and disappointment ensued when one didn't materialize.

Stocks had been trading lower ahead of the Fed's announcement and rallied briefly after the news came out. A late slump erased most of the day's advance from broad market indicators, while the Dow Jones industrial average, which tracks 30 large companies, ended with a meager gain.

The Dow rose 7.41, or 0.1 percent, to close at 10,761.03. It's still up 7.5 percent for September, an unsually large gain for a month that is historically weak for stocks.

The Standard & Poor's 500 index slipped 2.93, or 0.3 percent, to 1,139.78, while the Nasdaq composite fell 6.48, also 0.3 percent, to 2,349.35.

The weakness in broader indexes suggested that a three-week rally on the stock market may be losing steam as stocks start to look expensive to some investors. The S&P 500 is still up 8.6 percent for the month, while the Nasdaq is up even more, at 11.1 percent.

Tom Porcelli, head of U.S. market economics at the Royal Bank of Canada, said there's now a good chance the Fed will decide to add more debt to its books at the next meeting of its rate-setting committee on Nov. 2. But another round of bond buying by the Fed may offer the economy little help, he argued. The last round of Fed purchases had the effect of lowering lending rates by a half a percentage point.

Now, a move by the Fed would have probably less of an impact. Borrowing rates are cheap but borrowing is still weak. "The fact remains that the economic backdrop is the driver of lending not low rates," Porcelli said in a note to clients after the announcement.

In corporate news, steep discounts and higher costs drove ConAgra Foods Inc.'s fiscal first-quarter profit lower. Shares of the company, which owns the Chef Boyardee and Peter Pan foods brands, fell 80 cents, or 3.6 percent, to $21.57.

Cruise line operator Carnival Corp. reported a 22 percent jump in quarterly profits as demand was strong during the summer. It also raised its full-year earnings outlook well above analysts' forecasts. Shares rose 51 cents to $37.57.

The dollar fell against other major currencies, while gold prices continued to hover near record highs.

Falling stocks outnumbered rising ones two to one on the New York Stock Exchange, where consolidated volume came to 4.2 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Traders put their September stock rally on hold and moved into Treasurys and gold Wednesday, a day after the Federal Reserve said it was ready to take more action to boost the economy.

The Dow Jones industrial average fell 21 points.

With no new economic data out Wednesday and the Fed's announcement late Tuesday having a bigger impact on the bond and currency markets, Bob Auer, portfolio manager of the Auer Growth Fund, said it was natural for stocks to pause.

Major indexes have soared this month as economic reports have consistently indicated the economy continues to grow, albeit slowly.

"People are saying, 'I've got some profits, let's book 'em,'" Auer said. Entering Wednesday, the Dow had risen 13 of the past 15 days and climbed 7.5 percent so far in September

The NYSE DOW closed LOWER -21.72 points -0.20% on Tuesday September 22
Sym. Last......... .......Change..........
Dow 10,739.31 -21.72 -0.20%
Nasdaq 2,334.55 -14.80 -0.63%
S&P 500 1,134.28 -5.50 -0.48%
30-yr Bond 3.7420% -0.4300

NYSE Volume 4,157,783,000 (prior day 4,403,560,000)
Nasdaq Volume 2,211,429,750 (prior day 1,936,348,875)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,551.91 -24.28 -0.44%
DAX 6,208.33 -67.65 -1.08%
CAC 40 3,735.05 -49.35 -1.30%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,566.32 -35.79 -0.37%
Hang Seng 22,047.71 +45.12 +0.21%
Straits Times 3,096.10 +0.71 +0.02%

http://finance.yahoo.com/news/Stock-futures-edge-lower-apf-2787395926.html?x=0

Stocks waver as traders move into Treasurys, gold

Stock rally put on hold as traders opt for Treasurys, gold after Fed's latest statement

Stephen Bernard, AP Business Writer, On Wednesday September 22, 2010, 5:44 pm

NEW YORK (AP) -- Traders put their September stock rally on hold and moved into Treasurys and gold Wednesday, a day after the Federal Reserve said it was ready to take more action to boost the economy.

The Dow Jones industrial average fell 21 points.

With no new economic data out Wednesday and the Fed's announcement late Tuesday having a bigger impact on the bond and currency markets, Bob Auer, portfolio manager of the Auer Growth Fund, said it was natural for stocks to pause.

Major indexes have soared this month as economic reports have consistently indicated the economy continues to grow, albeit slowly.

"People are saying, 'I've got some profits, let's book 'em,'" Auer said. Entering Wednesday, the Dow had risen 13 of the past 15 days and climbed 7.5 percent so far in September.

The Fed didn't announce specific actions to strengthen the economy, but investors interpreted its statement as a signal that the central bank could step up its bond-purchasing program down the line.

Investors had little incentive to move more money into stocks, so they turned their focus to bonds and gold. Treasurys rose again, pushing their yields lower, and gold climbed to another record.

If the Fed starts purchasing bonds, it would have the dual effect of raising demand for Treasurys and hurting the value of the dollar. That's why bond prices rallied Wednesday and traders swapped out dollars for gold and other currencies.

The Dow fell 21.72, or 0.2 percent, to 10,739.31. The Standard & Poor's 500 index fell 5.50, or 0.5 percent, to 1,134.28, while the Nasdaq composite index fell 14.80, or 0.6 percent, to 2,334.55.

The yield on the 10-year Treasury note, which moves opposite to its price, fell to 2.56 percent from 2.58 percent late Tuesday. Its yield is often used to set interest rates on mortgages and other loans.

Gold climbed to a record $1,298.00 an ounce before falling back to $1,292.10 an ounce.

The euro hit a five-month high against the dollar.

In corporate news, Microsoft Corp. shares dipped 54 cents, or 2.2 percent, to $24.61 after the company said it was raising its dividend for the first time in two years.

Adobe Systems Inc. shares plummeted after the computer software maker said its fiscal third-quarter profit surged, but it said revenue during the current quarter will likely fall short of expectations. Adobe shares fell $6.27, or 19 percent, to $26.67.

About three stocks fell for every two that rose on the New York Stock Exchange where consolidated volume came to a light 4 billion shares, down from Tuesday's 4.2 billion.

Overseas, Britain's FTSE 100 fell 0.4 percent, Germany's DAX index fell 1.1 percent, and France's CAC-40 dropped 1.3 percent. Japan's Nikkei stock average fell 0.4 percent.

 

[bigdog]

Source: http://finance.yahoo.com

A September stock rally weakened on Thursday as investors were disappointed by a jump in unemployment claims and more signs of trouble for Europe's economy.

The market got off to a bad start after applications for unemployment benefits rose unexpectedly last week. European stocks also sank after following a lower reading on business activity in the 16 countries that use the euro and news that Ireland's economy shrank 1.2 percent in the second quarter.

The Dow Jones industrial average closed down 77 points, its second day of losses. The Standard & Poor's 500 index, the benchmark most often used by professional investors, fell below a key threshold watched by technical analysts. Gold hit another record as traders sought safe havens.

The slide raised doubts about whether a three-week rally that vaulted stocks higher in September would continue. The Dow is still up 6.5 percent for the month, but is 4.8 percent below its 2010 high reached on April 26. For the year, it's up 2.2 percent.

The NYSE DOW closed LOWER -76.89 points -0.72% on Thursday September 23
Sym. Last......... .......Change..........
Dow 10,662.42 -76.89 -0.72%
Nasdaq 2,327.08 -7.47 -0.32%
S&P 500 1,124.83 -9.45 -0.83%
30-yr Bond 3.7330% -0.0090

NYSE Volume 4,079,335,750 (prior day 4,157,783,000)
Nasdaq Volume 1,958,905,000 (prior day 2,211,429,750)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,547.08 -4.83 -0.09%
DAX 6,184.71 -23.62 -0.38%
CAC 40 3,710.61 -24.44 -0.65%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,566.32 closed for holiday
Hang Seng 22,047.71 closed for holiday
Straits Times 3,083.13 -12.97 -0.42%

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

Stocks weaken on Europe worries and job numbers

Unemployment claims, Europe worries send stocks lower; September rally in doubt

Stephen Bernard, AP Business Writer, On Thursday September 23, 2010, 5:21 pm

NEW YORK (AP) -- A September stock rally weakened on Thursday as investors were disappointed by a jump in unemployment claims and more signs of trouble for Europe's economy.

The market got off to a bad start after applications for unemployment benefits rose unexpectedly last week. European stocks also sank after following a lower reading on business activity in the 16 countries that use the euro and news that Ireland's economy shrank 1.2 percent in the second quarter.

The Dow Jones industrial average closed down 77 points, its second day of losses. The Standard & Poor's 500 index, the benchmark most often used by professional investors, fell below a key threshold watched by technical analysts. Gold hit another record as traders sought safe havens.

The slide raised doubts about whether a three-week rally that vaulted stocks higher in September would continue. The Dow is still up 6.5 percent for the month, but is 4.8 percent below its 2010 high reached on April 26. For the year, it's up 2.2 percent.

Traders were disappointed to see first-time unemployment claims rise last week, breaking a recent trend of declines. The Labor Department said claims jumped by 12,000 and are still at levels that signal employers are not significantly adding new jobs.

"It's all about jobs right now," said Jack Ablin, chief investment officer at Harris Private Bank. "When claims pick up, that's a worrisome sign."

Unemployment claims had fallen consistently in recent weeks, reducing worries that the economy might fall back into recession. Modest improvements in many economic reports have driven stocks sharply higher in September.

The Dow Jones industrial average rose 13 of the past 16 days, but broke a five-day winning streak on Wednesday. Some market watchers are starting to think the rally may have run its course.

"We've had a really good run that people didn't expect and now we're asking, 'Does the news support it?'" Nicholas Colas, chief market strategist at BNY ConvergEx. The answer today was, 'No.'"

The Dow Jones industrial average fell 76.89, or 0.7 percent, to close at 10,662.42.

The Standard & Poor's 500 index fell 9.45, or 0.8 percent, to 1,124.83, falling back below a closely watched threshold of 1,131. That had been the high end of its recent trading range until Monday, when the index charged above that level and stayed there, something analysts see as a bullish sign. Prior to Monday, the S&P had only crossed above 1,131 one time since June 21.

The Nasdaq composite index fell 7.47, or 0.3 percent, to 2,327.08.

Falling stocks outpaced rising ones two to one on the New York Stock Exchange, where volume came to 950 million shares.

Stocks erased some of their losses on news that home sales climbed back from 15-year lows in August and an index of future economic activity rose more than expected. Stocks turned lower in the last hour after trading mixed for much of the day.

The yield on the 10-year Treasury note, a widely used benchmark for consumer and business loans, was flat at 2.55 percent.

Gold gained $4.20 to settle a record $1,296.30 an ounce. Gold has hit a series of record highs over the past two weeks as investors seek safe stores of value as the dollar weakens and after the Federal Reserve said it was ready to push interest rates lower and encourage slightly more inflation. Investors seek out gold as a hedge against inflation and a weak dollar, and when other assets appear to be too risky.