NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

Stocks finished with modest gains Thursday after pulling back from a rally that pushed share prices near their highest levels of the year.

All three major stock indexes finished higher after an up-and-down trading session. Stocks initially jumped as much as 1 percent following another round of earnings announcements, then traded briefly in the red in the afternoon before a final push higher.

After the market closed, Internet retailer Amazon.com Inc. reported that earned 51 cents per share in the third quarter, which was 3 cents higher than analysts were expecting. The company's operating expenses were also 40 percent higher than this time last year, which helped push its shares down about 4 percent in after-market trading.

The Dow Jones industrial average rose 38.60, or 0.4 percent, to close at 11,146.57. It briefly eclipsed its highest closing level of 2010, which it reached on April 26.

The NYSE DOW closed HIGHER +38.60 points +0.35% on Thursday October 21
Sym. Last......... .......Change..........
Dow 11,146.57 +38.60 +0.35%
Nasdaq 2,459.67 +2.28 +0.09%
S&P 500 1,180.26 +2.09 +0.18%
30-yr Bond 0.3727% -3.5153

NYSE Volume 5,380,411,500 (prior day 5,598,244,000)
Nasdaq Volume 2,179,753,250 (prior day 2,061,150,380)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,757.86 +28.93 +0.50%
DAX 6,611.01 +86.46 +1.33%
CAC 40 3,878.27 +50.12 +1.31%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,376.48 -5.12 -0.05%
Hang Seng 23,649.48 +92.98 +0.39%
Straits Times 3,163.53 -15.62 -0.49%

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

Stocks up modestly after early gains

Stocks pull back after Dow Jones industrial average flirts with highest level of year

Stephen Bernard and David K. Randall, AP Business Writers, On Thursday October 21, 2010, 5:43 pm

NEW YORK (AP) -- Stocks finished with modest gains Thursday after pulling back from a rally that pushed share prices near their highest levels of the year.

All three major stock indexes finished higher after an up-and-down trading session. Stocks initially jumped as much as 1 percent following another round of earnings announcements, then traded briefly in the red in the afternoon before a final push higher.

After the market closed, Internet retailer Amazon.com Inc. reported that earned 51 cents per share in the third quarter, which was 3 cents higher than analysts were expecting. The company's operating expenses were also 40 percent higher than this time last year, which helped push its shares down about 4 percent in after-market trading.

The Dow Jones industrial average rose 38.60, or 0.4 percent, to close at 11,146.57. It briefly eclipsed its highest closing level of 2010, which it reached on April 26.

The Standard & Poor's 500 index rose 2.09, or 0.2 percent, to 1,180.26, while the Nasdaq rose 2.28, or 0.1 percent, to 2,459.67.

The Dow had been up as much as 105 points after three members of the index -- Caterpillar Inc., Travelers Cos. and McDonald's Corp. -- all beat earnings expectations.

Traders were also looking at data that did not provide a clear outlook for the economy. First-time claims for unemployment benefits fell last week, but the decline was offset by a sharp upward revision to the previous week's claims. Unemployment claims are stuck at levels that indicate companies are not still not hiring many workers.

The Chinese government, meanwhile, said that country's economic growth slowed to 9.6 percent in the third quarter. China has been trying to slow its rapid growth to a more sustainable level that would keep inflation from getting out of control. However a slowdown in China could also effect on exports and sales to that country.

"It was a mixed day for earnings reports and economic data, and the stock market is reflecting that," said Brad Sorensen, a director of sector research at Charles Schwab.

Bank of America Corp. again hurt the Dow as it continues to be dogged by worries about whether investors will force the bank to buy back mortgages it originated. Shares of the North Carolina bank were down 39 cents, or 3.3 percent. The company has fallen 13 percent this month.

Stocks of other big national banks were also mostly lower on the day.

Home Depot Inc., with a gain of 3.5 percent, was the top-performing stock in the Dow.

Caterpillar hit a high for the year early in the morning before pulling back. United Parcel Service Inc.'s profit jumped and the shipping company raised its outlook. But it too retreated after coming within $1 of hitting a new high for the year.

"We've had some better-than-expected earnings for the last few days, but I think what's happening today is some natural volatitly as we get near the highs for the year," said Thomas Villalta, a fund manager at Jones Villalta funds. Each major market index is up more than 3 percent for the month.

JetBlue Airways Corp. also reported strong earnings, only to see its stock approach its 2010 high and then fall. Shares of the company fell 33 cents on the day, or 4.7 percent, to finish at $6.62. Competitor Delta Air Lines Inc. saw its shares rise for the second straight day, finishing up 56 cents, or 4.3 percent, to $13.53 a share. The company's stock is up nearly 20 percent for the week.

Bond prices fell. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.54 percent from 2.48 percent late Wednesday.

The dollar rose 0.3 percent against a broad basket of currencies.

Trading volume on the floor of the New York Stock Exchange came to 1.1 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow Jones industrial average rose for a third straight week, capping a two-month period in which the index has ended 7 out of 8 weeks higher than where it started.

Stocks ended on a mixed note Friday at the close of a busy week of earnings news. The Dow finished slightly down, while the broader Standard and Poor's 500 index and the technology-focused Nasdaq both ended with gains.

The market appeared to be in a holding pattern as investors turned their attention to a meeting of finance ministers and central bank governors in Korea. The group is meeting as tensions grow over a brewing currency battle that could affect global trade.

The NYSE DOW closed LOWER -14.01 points -0.13% on Friday October 22
Sym. Last......... .......Change..........
Dow 11,132.56 -14.01 -0.13%
Nasdaq 2,479.39 +19.72 +0.80%
S&P 500 1,183.08 +2.82 +0.24%
30-yr Bond 0.3727% 0.0000

NYSE Volume 3,667,067,250 (prior day 5,380,411,500)
Nasdaq Volume 1,684,746,625 (prior day 2,179,753,250)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,741.37 -16.49 -0.29%
DAX 6,605.84 -5.17 -0.08%
CAC 40 3,868.54 -9.73 -0.25%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,426.71 +50.23 +0.54%
Hang Seng 23,517.54 -131.94 -0.56%
Straits Times 3,173.57 +10.04 +0.32%

http://finance.yahoo.com/news/Stocks-end-higher-for-3rd-apf-2135127386.html?x=0

Stocks end higher for 3rd straight week

Stocks mixed on Friday as traders eye G-20 conference

Stephen Bernard and David K. Randall, AP Business Writers, On Friday October 22, 2010, 5:38 pm

NEW YORK (AP) -- The Dow Jones industrial average rose for a third straight week, capping a two-month period in which the index has ended 7 out of 8 weeks higher than where it started.

Stocks ended on a mixed note Friday at the close of a busy week of earnings news. The Dow finished slightly down, while the broader Standard and Poor's 500 index and the technology-focused Nasdaq both ended with gains.

The market appeared to be in a holding pattern as investors turned their attention to a meeting of finance ministers and central bank governors in Korea. The group is meeting as tensions grow over a brewing currency battle that could affect global trade.

"Everyone is trying to get out of the economic doldrums by exporting," said Bruce McCain, chief investment strategist at Key Private Bank. "And everyone is trying to do it at one time."

There are worries that some countries, like China, are holding their currencies at artificially low levels. That gives them an advantage in exporting goods as the global economy slowly recovers from a deep recession.

The Dow Jones industrial average fell 14.01, or 0.1 percent, to 11,132.56. The Standard and Poor's 500 index rose 2.82, or 0.2 percent, to 1,183.08, and the Nasdaq composite index rose 19.72, or 0.8 percent, to 2,479.39.

Each index finished the week with gains as a parade of large companies reported that they are making more money than analysts were expecting. A third of the companies that make up the Standard and Poor's 500 index have now reported earnings, and approximately 75 percent have reported higher earnings per share than analyst forecast, according to Howard Silverblatt, the senior index analyst at Standard and Poor's.

Amazon.com Inc. and oil services company Schlumberger Ltd. were among Friday's better performers following strong earnings reports. Online retailer Amazon shook off some early morning concerns about narrowing margins to finish $4.16, or 2.5 percent, higher at $169.13. Schlumberger got a big lift from increased land-based drilling activities in the U.S. and Canada.

Shares of Hewlett-Packard rose 48 cents, or 1.1 percent, which made that company the top performing stock among the components of the Dow index. American Express, with its 3.1 percent drop, was the Dow's worst performer.

Bank of America Corp., whose shares fell 4.5 percent, was the Dow's laggard for the week. The North Carolina bank has lost ground since a group of institutional investors signaled that it may attempt to force the company to repurchase mortgage loans issued by one of its subsidiaries. Coca Cola Co., meanwhile, gained 2.7 percent to end the week as the best performing component of the Dow for the week.

The dollar rose slightly against other major currencies, but still remains near a 15-year low against Japan's yen. It's also near its lowest level of the year against the euro.

The yield on the 10-year Treasury note rose slightly to 2.57 percent from 2,54 percent late Thursday. Bond yields move in the opposite direction of prices.

Trading volume on the floor of the New York Stock Exchange was very light at 772 million shares.

3128

 

[bigdog]

Source: http://finance.yahoo.com

Stocks rose moderately Monday on growing expectations that the Federal Reserve will take steps to boost the economy.

A falling dollar that contributed to a jump in commodity prices also helped push the Dow Jones industrial average up 31 points to its highest close since late April.

Traders are widely expecting the Fed to expand its program to buy bonds as a way to stimulate the economy. That would push bond yields down and, in turn, would make stocks a more attractive investment.

The NYSE DOW closed HIGHER +31.49 points +0.28% on Monday October 25
Sym. Last......... .......Change..........
Dow 11,164.05 +31.49 +0.28%
Nasdaq 2,490.85 +11.46 +0.46%
S&P 500 1,185.62 +2.54 +0.21%
30-yr Bond 0.3727% 0.0000

NYSE Volume 4,834,508,000 (prior day 3,667,067,250)
Nasdaq Volume 1,778,337,500 (prior day 1,684,746,625)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,751.98 +10.61 +0.18%
DAX 6,639.21 +33.37 +0.51%
CAC 40 3,870.00 +1.46 +0.04%
Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,401.16 -25.55 -0.27%
Hang Seng 23,627.91 +110.37 +0.47%
Straits Times 3,182.08 +8.51 +0.27%

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

Stocks extend gains as dollar falls

Stocks rise as dollar falls, commodities prices rise; Dow moves toward high for the year

Stephen Bernard and David K. Randall, AP Business Writers, On Monday October 25, 2010, 5:54 pm

NEW YORK (AP) -- Stocks rose moderately Monday on growing expectations that the Federal Reserve will take steps to boost the economy.

A falling dollar that contributed to a jump in commodity prices also helped push the Dow Jones industrial average up 31 points to its highest close since late April.

Traders are widely expecting the Fed to expand its program to buy bonds as a way to stimulate the economy. That would push bond yields down and, in turn, would make stocks a more attractive investment.

Bank of America Corp. and JPMorgan Chase & Co. each fell more than 1.5 percent, as the banks again faced questions into how they and other finanancial companies have handled foreclosures. The financial industry joined utilities as the only two segments of the Standard and Poor's 500 index to lose ground.

For the second time in the past week, the Dow eclipsed its highest closing level this year only to quickly pullback. It closed at 11,205.03 on April 26. The average rose 31.49, or 0.3 percent, to 11,164.05. The broader Standard and Poor's 500 index rose 2.54, or 0.2 percent, to 1,185.62, while the technology-focused Nasdaq composite index rose 11.46, or 0.5 percent, to 2,490.85.

The National Association of Realtors said sales of previously occupied homes rose 10 percent last month. However, sales remain extremely weak compared with where they were just a year ago, which is likely keeping enthusiasm over the news in check.

Shaun Ahmad, president of capital markets at mortgage investment firm RoundPoint Financial Group, said that while the sales jump was a positive sign, expectations are very low right now and "there's a significant housing overhang." Home sales won't climb back to more historical levels until a large inventory of homes can be sold, Ahmad said.

The dollar fell against other major currencies. It hit a fresh 15-year low against Japan's yen. The euro again climbed above $1.40 early in the day before sliding back slightly below that level in late trading. Gold rose 1.1 percent.

Traders expect the Fed to buy bonds to stimulate the economy. While that is expected to make stocks more appealing, it would also put more money into circulation, and investors believe, send inflation rising again. In Monday's auction of the Treasury's inflation-protection securities, commonly known as TIPS, demand was so high for the bonds that their yields turned negative -- the first time that has happened at an auction. The principal of TIPS increases with inflation and falls with deflation, so a modest gain in the inflation rate would lead to a positive return on the bonds.

"Investors now have a high expectation of inflation and are taking the double-dip recession concerns off of the table," said Jack Albin, the chief investment officer at Harris Bank.

Other economic reports could further sway trading throughout the week, culminating with the government's first estimate on third-quarter gross domestic product. The report, the broadest measure of the nation's economy, is due out Friday.

Treasury bond prices were flat. The yield on a 10-year Treasury note was unchanged at 2.56 from Friday's close.

Three stocks rose for every two that fell on the New York Stock Exchange, where consolidated volume came to 4.2 billion shares, up from Friday's extremely light 3.2 billion

 

[bigdog]

Source: http://finance.yahoo.com

Mixed earnings reports and a stronger dollar helped stocks finish about where they started Tuesday.

The Dow Jones industrial average wavered within a 100-point range as traders attempted to parse the direction of the economy amid a drop in home prices, a batch of weak earnings reports and a slight rise in consumer confidence.

Stocks started the day with losses after disappointing results from Texas Instruments Inc., U.S Steel Corp., Bristol-Myers Squibb Co. Du Pont, one of the 30 companies that make up the Dow average, fell 1 percent even though it beat estimates. Investors have been having high expectations this season with three out of every four companies besting analyst estimates.

The NYSE DOW closed HIGHER +5.41 points +0.05% on Tuesday October 26
Sym. Last......... .......Change..........
Dow 11,169.46 +5.41 +0.05%
Nasdaq 2,497.29 +6.44 +0.26%
S&P 500 1,185.64 +0.02 +0.00%
30-yr Bond 3.9940% +0.0870

NYSE Volume 4,714,503,500 (prior day 4,834,508,000)
Nasdaq Volume 1,940,514,875 (prior day 1,778,337,500)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,707.30 -44.68 -0.78%
DAX 6,613.80 -25.41 -0.38%
CAC 40 3,852.66 -17.34 -0.45%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,377.38 -23.78 -0.25%
Hang Seng 23,601.24 -26.67 -0.11%
Straits Times 3,162.51 -19.57 -0.62%

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

Stocks eke out gains on mixed earnings

Stocks rise slightly on mixed news from earnings reports and falling home prices

Stephen Bernard, AP Business Writer, On Tuesday October 26, 2010, 5:45 pm

NEW YORK (AP) -- Mixed earnings reports and a stronger dollar helped stocks finish about where they started Tuesday.

The Dow Jones industrial average wavered within a 100-point range as traders attempted to parse the direction of the economy amid a drop in home prices, a batch of weak earnings reports and a slight rise in consumer confidence.

Stocks started the day with losses after disappointing results from Texas Instruments Inc., U.S Steel Corp., Bristol-Myers Squibb Co. Du Pont, one of the 30 companies that make up the Dow average, fell 1 percent even though it beat estimates. Investors have been having high expectations this season with three out of every four companies besting analyst estimates.

The Dow Jones industrial average rose 5.41 points, or 0.1 percent, to 11,169.46. The Standard & Poor's 500 index rose 0.02 to 1,185.64, while the technology-focused Nasdaq composite index rose 6.44, or 0.3 percent, to 2,497.29.

The 30 stocks in the Dow were split down the middle, with half falling and half rising. Microsoft Corp. rose 2.8 percent to lead the index, while Procter & Gamble fell 1.1 percent as the measure's laggard.

A gain in consumer confidence this month helped stocks pare their losses and then edge higher in afternoon trading.

"The consumer confidence numbers were encouraging," said Bernie McSherry, vice president of strategic initiatives at Cuttone and Co. It's a sign shoppers "may be reaching into their wallets heading into the holiday shopping season."

Ford Motor Co. and Coach Inc. were among the few bright spots in the big batch of earnings reports released Tuesday.

Shares of Netflix Inc. rose $10.78, or 6.4 percent, to $177.62 amid rumors that the company may be a target of an acquisition by Apple Inc.

Traders were moving out of riskier assets as the dollar strengthened. A stronger dollar makes stocks and commodities more expensive because they are priced in dollars. The dollar rose against Japan's yen and the euro Tuesday.

Home prices slid in August, renewing concerns about the health of the housing market. Fifteen of the 20 cities measured in the Standard & Poor's/Case-Shiller home price index saw price declines.

Bond prices fell slightly. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.64 percent from 2.56 percent late Monday.

Consoliated trading volume on the New York Stock Exchange came to 4.2 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow fell 43.18, or 0.4 percent, to 11,126.28, despite trading as much as 150 points lower.

Stock prices fell Wednesday as concerns grew over whether the Federal Reserve's plans to buy Treasury bonds might be smaller and slower than anticipated.

Stocks had been rising in recent weeks due to a number of strong earnings reports and mounting expectations that the Fed would embark on another round of bond-buying to stimulate the economy.

Traders have been anticipating the Fed would buy between $500 billion and $1 trillion in Treasurys to drive interest rates lower and encourage lending and spending. A report in The Wall Street Journal said the Fed's bond purchases might amount to a few hundred billion dollars over several months, which would fall short of those predictions.

The NYSE DOW closed LOWER -43.18 points -0.39% on Wednesday October 27
Sym. Last......... .......Change..........
Dow 11,126.28 -43.18 -0.39%
Nasdaq 2,503.26 +5.97 +0.24%
S&P 500 1,182.45 -3.19 -0.27%
30-yr Bond 4.0410% +0.0470

NYSE Volume 4,904,104,500 (prior day 4,714,503,500)
Nasdaq Volume 2,034,776,120 (prior day 1,940,514,875)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,646.02 -61.28 -1.07%
DAX 6,568.00 -45.80 -0.69%
CAC 40 3,815.77 -36.89 -0.96%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,387.03 +9.65 +0.10%
Hang Seng 23,164.58 -436.66 -1.85%
Straits Times 3,124.38 -38.13 -1.21%

http://finance.yahoo.com/news/Stocks-fall-amid-questions-apf-3514862202.html?x=0

Stocks fall amid questions about Fed plan

Stocks retreat amid reports the Fed's bond-buying program might be smaller than anticipated

Stephen Bernard, AP Business Writer, On Wednesday October 27, 2010, 5:15 pm

NEW YORK (AP) -- Stock prices fell Wednesday as concerns grew over whether the Federal Reserve's plans to buy Treasury bonds might be smaller and slower than anticipated.

Stocks had been rising in recent weeks due to a number of strong earnings reports and mounting expectations that the Fed would embark on another round of bond-buying to stimulate the economy.

Traders have been anticipating the Fed would buy between $500 billion and $1 trillion in Treasurys to drive interest rates lower and encourage lending and spending. A report in The Wall Street Journal said the Fed's bond purchases might amount to a few hundred billion dollars over several months, which would fall short of those predictions.

"The higher the number, the better for the market," said Michael Gault, a senior portfolio strategist at Weiser Capital Management. "Every measured step from that, the market will pull back."

The Fed meets next week and details of any stimulus are expected to be announced when the meeting wraps up Nov. 3.

The Dow fell 43.18, or 0.4 percent, to 11,126.28, despite trading as much as 150 points lower.

The Standard & Poor's 500 index fell 3.19, or 0.3 percent, to 1,182.45. The technology-focused Nasdaq composite index was the only broad market index to rise, gaining 5.97, or 0.2 percent, to 2,503.26.

A report on durable goods orders gave a mixed picture of the health of the economy. The Commerce Department said durable goods rose faster than economists had forecast in September. However, excluding the volatile transportation sector, orders fell. Economists polled by Thomson Reuters had forecast a rise in orders excluding transportation.

The report indicates the pace of growth in manufacturing is slowing. Manufacturing had been one of the brightest spots in the economy during the first half of the year.

Sales of new homes rose slightly faster than economists had expected last month, but still remain near their lowest levels on record.

Joe Murin, chairman of the Collingwood Group, said lower interest rates on mortgages that could occur if the Fed buys more bonds won't spark more demand for the loans and help lift sales. Only renewed consumer confidence will do the trick, Murin said.

"Interest rates are (already) at an all-time low" and there's no demand, Murin added. Driving rates even lower would also make investors who buy mortgages from banks even less interested in them because returns would be so small, he said.

Earnings reports announced Wednesday were mixed. Procter & Gamble said its profit slipped during the most recent quarter, but still beat forecasts. Its shares rose 22 cents to $63.08.

Sprint Nextel reported a wider loss. It shares fell 47 cents, or 9.9 percent, to $4.30.

Financial companies and technology companies were the only groups amid the Standard and Poor's 500 index to see their shares end the day with gains. Bank of America Corp. gained 24 cents, or 2.1 percent, to finish as the top stock among the 30 companies in the Dow. Shares in the company have fallen 11.9 percent this month.

Merck & Co. Inc. fell 61 cents, or 1.6 percent, as the index's laggard.

Bond prices fell slightly. The yield on the 10-year Treasury is 2.72 percent, up from 2.64 percent in late Tuesday's trading. Bond prices and yields move in opposite directions.

Two shares fell for every one that rose on the New York Stock Exchange, where floor volume came to 1 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks struggled to a mixed finish Thursday after weak earnings news from 3M and other companies weighed on the market.

The Dow Jones industrial average lost 12 points, but broader indexes posted slight gains. The market had risen steadily in the opening moments of trading following a surprise drop in first-time claims for unemployment benefits, pushing the Dow up as high as 53.

3M Co. set a negative tone with a downbeat view on the economy and a lower forecast for full-year earnings. 3M's dim assessment of the U.S. and European economies was a sobering reminder that growth in many developed nations remains weak. The maker of everything from Post-It notes to Scotch Tape called growth in those regions "uninspiring." Its shares fell 6.4 percent.

The NYSE DOW closed LOWER -12.33 points -0.11% on Thursday October 28
Sym. Last......... .......Change..........
Dow 11,113.95 -12.33 -0.11%
Nasdaq 2,507.37 +4.11 +0.16%
S&P 500 1,183.78 +1.33 +0.11%
30-yr Bond 4.0540% +0.0130

NYSE Volume 4,806,948,000 (prior day 4,904,104,500)
Nasdaq Volume 2,032,764,880 (prior day 2,034,776,120)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,677.89 +31.87 +0.56%
DAX 6,595.28 +27.28 +0.42%
CAC 40 3,834.84 +19.07 +0.50%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,366.03 -21.00 -0.22%
Hang Seng 23,210.86 +46.28 +0.20%
Straits Times 3,129.50 +5.12 +0.16%

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

Stocks give up early gains; 3M, Apple disappoint

Stocks pull back after early gains as investors sort through big batch of earnings

Stephen Bernard, AP Business Writer, On Thursday October 28, 2010, 5:34 pm
NEW YORK (AP) -- Stocks struggled to a mixed finish Thursday after weak earnings news from 3M and other companies weighed on the market.

The Dow Jones industrial average lost 12 points, but broader indexes posted slight gains. The market had risen steadily in the opening moments of trading following a surprise drop in first-time claims for unemployment benefits, pushing the Dow up as high as 53.

3M Co. set a negative tone with a downbeat view on the economy and a lower forecast for full-year earnings. 3M's dim assessment of the U.S. and European economies was a sobering reminder that growth in many developed nations remains weak. The maker of everything from Post-It notes to Scotch Tape called growth in those regions "uninspiring." Its shares fell 6.4 percent.

Apple Inc. fell about 1 percent after warning in a regulatory filing that profit margins might narrow next year. Colgate-Palmolive Co. also said it expects sales growth to slow next year.

Not all the corporate news was bad. Eastman Kodak Co. rose 15.4 percent after saying more customers turned to home and office printers. Motorola Inc. said its phone division was profitable for the first time in three years as the company bets consumers will snap up more smart phones like the Droid X.

Avon Products Inc. sank 5.6 percent after reporting suprisingly poor results from emerging markets. The beauty products seller said weakness in Brazil and Russia hurt quarterly profits. Many companies have relied heavily on expansion in developing countries to offset lagging sales in the U.S. and Europe.

Mixed earnings over the past few days sapped energy from an upswing on the stock market, which has been on a nearly unbroken rise since early September.

Pharmaceutical companies Bayer AG and Sanofi-Aventis SA and automaker Hyundai Motor Co. kicked off earnings worldwide with upbeat results, sending stocks higher overseas before U.S. markets opened.

A surprise drop in claims for unemployment insurance provided the most encouragement about the economy. Claims fell to their lowest level in three months, bolstering hopes that companies might start ramping up hiring soon.

The Dow fell 12.33, or 0.1 percent, to close at 11,113.95.

The Standard & Poor's 500 index rose 1.33 point to 1,183.78, while the Nasdaq composite rose 4.11, or 0.2 percent, to 2,507.37

Not even a falling dollar could provide support for the market. Stocks and commodities have been very sensitive to the movement of the dollar in recent weeks. A decline in the dollar makes riskier assets priced in the currency, such as gold, oil and domestic stocks, more attractive to investors.

The dollar was broadly lower against other currencies, while commodities prices mostly rose. Gold rose $19.90 to $1,342.50 an ounce.

Bond prices rose. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.66 percent from 2.72 percent late Wednesday.

Gaining stocks narrowly outpaced declining ones on the New York Stock Exchange, where consdoliated volume came to 4.3 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Every market index was up more than 3 percent for the month. The Nasdaq finished October with a 5.9 percent gain.

For the first time since April, major stock indexes have risen for two months in a row. The Dow and S&P are both up about 6 percent for the year, while the Nasdaq is up 10.5 percent

Stocks edged higher Friday to close out the best October for the Dow Jones industrial average in four years.

Trading activity was relatively light, with the Dow keeping to a tight range of just 50 points, amid uncertainty over next week's elections. News that the U.S. economy rose at just a 2 percent annual pace in the three months ending in September had little effect on stock prices.

The Dow Jones industrial average rose 4.54, or 0.1 percent, to close at 11,118.49. The Standard and Poor's 500 Index fell 0.52, or 0.1 percent, to 1,183.26, while the technology focused Nasdaq composite index rose less than a point to 2,507.41.

The NYSE DOW closed HIGHER +4.54 points +0.04% on Friday October 29
Sym. Last......... .......Change..........
Dow 11,118.49 +4.54 +0.04%
Nasdaq 2,507.41 +0.04 +0.00%
S&P 500 1,183.26 -0.52 -0.04%
30-yr Bond 4.0000% -0.0540

NYSE Volume 4,146,858,750 (prior day 4,806,948,000)
Nasdaq Volume 2,098,312,000 (prior day 2,032,764,880)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,675.16 -2.73 -0.05%
DAX 6,601.37 +6.09 +0.09%
CAC 40 3,833.50 -1.34 -0.03%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,202.45 -163.58 -1.75%
Hang Seng 23,096.32 -114.54 -0.49%
Straits Times 3,142.62 +13.12 +0.42%

http://finance.yahoo.com/news/Stock...dcontent/main/380909214/date/desc/11/s1845423

Stocks edge up to close strong October

Stocks waver as economic growth still slow; traders cautious before election, Fed meeting

Stephen Bernard and David K. Randall, AP Business Writers, On Friday October 29, 2010, 5:43 pm

NEW YORK (AP) -- Stocks edged higher Friday to close out the best October for the Dow Jones industrial average in four years.

Trading activity was relatively light, with the Dow keeping to a tight range of just 50 points, amid uncertainty over next week's elections. News that the U.S. economy rose at just a 2 percent annual pace in the three months ending in September had little effect on stock prices.

The Dow Jones industrial average rose 4.54, or 0.1 percent, to close at 11,118.49. The Standard and Poor's 500 Index fell 0.52, or 0.1 percent, to 1,183.26, while the technology focused Nasdaq composite index rose less than a point to 2,507.41.

Every market index was up more than 3 percent for the month. The Nasdaq finished October with a 5.9 percent gain.

For the first time since April, major stock indexes have risen for two months in a row. The Dow and S&P are both up about 6 percent for the year, while the Nasdaq is up 10.5 percent.

Since September, the Standard and Poor's 500 index, perhaps the best measure of the stock market, is up 12.7 percent. King Pharmaceuticals Inc., which was up 42 percent in October after Pfizer Inc. announced plans to buy it, was the index's best performing stock. Apollo Group Inc., which fell 27 percent in October after the company said that new government regulation would affect its profit, was the index's worst performer.

Normally slow GDP growth would have driven stocks much lower. But signs of weak economic expansion have built up expectations that the Federal Reserve will take bold steps to boost the economy when it meets early next week.

"Because GDP was so lackluster, we don't see the Fed pumping the brakes" on its plan, said Tony Zabiegala, a partner at Strategic Wealth Partners.

Stocks rose sharply during the first half of October as expectations mounted that the Fed would start buying Treasury bonds to drive interest rates lower. That, in turn, is supposed to spark spending and lending. In recent days, however, the size of the bond-buying program has been questioned, putting a market rally on hold.

John Apruzzese, a partner and portfolio manager at Evercore Wealth Management, said reaction in anticipation in the program is typical of the market.

"This is a classic situation where all the market movement is done in anticipation," Apruzzese said.

The market could be stuck in a holding pattern until the Fed wraps up its meeting Wednesday where it is expected to announce details about the bond-buying program.

A day before the Fed completes its meeting, voters will head to the polls for the midterm elections. Traders have been betting that Republicans will at least take control of the House of Representatives, which could slow government action.

Analysts say uncertainty over tax issues and potential costs from health care and financial regulation reform bills have been major reasons employers have been hesitant to start hiring new workers. The results of the election should provide more clarity about those questions.

Bond prices rose slightly following the GDP report. The yield on the benchmark 10-year Treasury note fell to 2.60 percent from 2.66 percent late Thursday.

Another batch of earnings news came in mixed. Microsoft Corp. rose after reporting higher income late Thursday, while Merck & Co. and Chevron Corp. fell following disappointing results. Merck was hurt by disappointing revenue figures, while Chevron fell short of earnings forecast after charges tied to foreign exchange.

Alocoa Inc., which rose 3.9 percent in Friday's trading, was the Dow's top performing stock. Cheveron, which fell 1.8 percent, was the measure's laggard.

Two stocks rose for every one that fell on the New York Stock Exchange, where consolidated trading volume came to 3.7 billion shares.

3543

 

[bigdog]

Source: http://finance.yahoo.com

Stocks closed mixed Monday as traders waited for this week's election results and more details about the Federal Reserve's plan to stimulate the economy.

Stocks rose early in the day following reports of unexpected growth in the manufacturing industry in both the U.S. and China last month. The Dow Jones industrial average rose 125 points, led by manufacturers Caterpillar Inc., United Technologies Corp. and General Electric Co.

But stocks were unable to hold on to their gains ahead of the election and the two-day Fed meeting that starts Tuesday. The Dow fell steadily throughout the day, briefly turning lower before a late rally gave it a modest advance.

The NYSE DOW closed HIGHER +6.13 points +0.06% on Monday November 1
Sym. Last......... .......Change..........
Dow 11,124.62 +6.13 +0.06%
Nasdaq 2,504.84 -2.57 -0.10%
S&P 500 1,184.38 +1.12 +0.09%
30-yr Bond 4.0170% +0.0170

NYSE Volume 4,444,937,000 (prior day 4,146,858,750)
Nasdaq Volume 1,921,234,750 (prior day 2,098,312,000)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,694.62 +19.46 +0.34%
DAX 6,604.86 +3.49 +0.05%
CAC 40 3,841.11 +7.61 +0.20%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,154.72 -47.73 -0.52%
Hang Seng 23,652.94 +556.62 +2.41%
Straits Times 3,192.18 +49.56 +1.58%

http://finance.yahoo.com/news/Stocks-retreat-from-early-apf-313212598.html?x=0

Stocks retreat from early gains

Stocks pare morning gains; traders eye elections, Fed meeting later in the week

David K. Randall, AP Business Writer, On Monday November 1, 2010, 5:23 pm

NEW YORK (AP) -- Stocks closed mixed Monday as traders waited for this week's election results and more details about the Federal Reserve's plan to stimulate the economy.

Stocks rose early in the day following reports of unexpected growth in the manufacturing industry in both the U.S. and China last month. The Dow Jones industrial average rose 125 points, led by manufacturers Caterpillar Inc., United Technologies Corp. and General Electric Co.

But stocks were unable to hold on to their gains ahead of the election and the two-day Fed meeting that starts Tuesday. The Dow fell steadily throughout the day, briefly turning lower before a late rally gave it a modest advance.

The Dow rose 6.13, or 0.1 percent, to finish at 11,124.62

The broad Standard & Poor's 500 index rose 1.12, or 0.1 percent, to 1,184.38, while the technology-focused Nasdaq composite index fell 2.57, or 0.1 percent, to 2,504.84.

In one sign of the mixed day in the stock market, half the industries that make up the Standard and Poor's 500 index fell, while the other half rose. Intel Corp. rose 2.5 percent to lead the 30 companies in the Dow, while Kraft Foods Inc. was the index's laggard with a 1.5 percent decline.

Investors have been assuming the Fed will launch a new program of buying Treasury bonds to help stimulate the economy. Stocks rose for much of October because investors expect the Fed will announce as early as Wednesday that it plans to buy government debt in an effort to spark consumer spending and bank lending. Only in the last few days has the market rally trailed off amid questions about exactly how much the Fed will spend to buy bonds. The Dow rose 3.1 percent in October, including a 0.1 percent drop last week.

Lower interest rates weaken returns on debt, which would make stocks and commodities more attractive investments since their potential return would be significantly higher.

Bond prices fell following the strong manufacturing report. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.63 percent from 2.60 percent late Friday.

The dollar rose 0.28 percent against a broad basket of currencies. The Euro Stoxx 50, which tracks the performance of blue chip stocks in Europe, fell 1 point to 2,541.77. China's Shanghai Composite Index rose 2.5 percent, or 75.1, to 3,054.02.

 

[bigdog]

Source: http://finance.yahoo.com

Major stock indexes rose Tuesday as investors awaited the results of Congressional elections, putting the Dow Jones industrial average near its highest point of the year.

The Dow Jones industrial average rose more than 60 points. The Dow has now traded above its 2010 closing high of 11,205 four times over the past two weeks, but failed to close above that level each time. Eric Thorne, an investment adviser with Bryn Mawr Trust Wealth Management, said many traders have been using the end of the day to take short-term profits.

A Republican gain of at least one house of Congress is most likely already reflected in stock prices. The slide of the dollar, which fell against the euro and the yen, helped push stocks higher on Tuesday as investors bought riskier assets.

The NYSE DOW closed HIGHER +64.10 points +0.58% on Tuesday November 2
Sym. Last......... .......Change..........
Dow 11,188.72 +64.10 +0.58%
Nasdaq 2,533.52 +28.68 +1.14%
S&P 500 1,193.57 +9.19 +0.78%
30-yr Bond 3.9340% -0.0830

NYSE Volume 4,288,465,000 (prior day 4,444,937,000)
Nasdaq Volume 1,934,148,120 (prior day 1,921,234,750)

Europe
Symbol.... Last...... .....Change.......
FTSE 100 5,757.43 +62.81 +1.10%
DAX 6,654.31 +49.45 +0.75%
CAC 40 3,865.72 +24.61 +0.64%

Asia
Symbol...... Last...... .....Change.......
Nikkei 225 9,159.98 +5.26 +0.06%
Hang Seng 23,671.42 +18.48 +0.08%
Straits Times 3,205.28 +13.10 +0.41%

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

Stocks rise on Election Day, tech at 2010 high

Stocks rise modestly as traders await election results, Fed announcement

Stephen Bernard and David K. Randall, AP Business Writers, On Tuesday November 2, 2010, 5:45 pm

NEW YORK (AP) -- Major stock indexes rose Tuesday as investors awaited the results of Congressional elections, putting the Dow Jones industrial average near its highest point of the year.

The Dow Jones industrial average rose more than 60 points. The Dow has now traded above its 2010 closing high of 11,205 four times over the past two weeks, but failed to close above that level each time. Eric Thorne, an investment adviser with Bryn Mawr Trust Wealth Management, said many traders have been using the end of the day to take short-term profits.

A Republican gain of at least one house of Congress is most likely already reflected in stock prices. The slide of the dollar, which fell against the euro and the yen, helped push stocks higher on Tuesday as investors bought riskier assets.

Small companies performed especially well. The Russell 2000, the index that tracks the performance of smaller corporations, jumped 2 percent to 712.89. The index is up nearly 14 percent for the year, roughly double the return of the Dow and the broad Standard and Poor's 500 index.

The Dow rose 64.10, or 0.6 percent, to close at 11,188.72. It reached its closing high of 11,205.03 on April 26.

The broader Standard & Poor's 500 index rose 9.19, or 0.8 percent, to 1,193.57. The S&P 500, which is more closely watched than the Dow by professional investors, is also still below its 2010 high of 1,217.28, reached on April 23.

The technology-focused Nasdaq composite index reached a new high for the year, as tech titans like Apple Inc., Microsoft Corp. and Amazon.com Inc. all gained more than 1.2 percent for the day. The Nasdaq rose 28.68, or 1.1 percent, to 2,533.52. Its previous high for the year was 2,530.15, which came in late April.

Uncertainty over the size of the Federal Reserve's expected stimulus program due Wednesday has kept the market from ending with either big gains or losses in recent days. Traders are waiting for the Federal Reserve to announce plans to buy bonds to spur spending, a process known as quantitative easing.

The Fed's purchase of Treasurys hurts the value of the dollar, which fell 0.7 percent today against an index of six other currencies. A weaker dollar, in turn, drives the price of gold, oil and other commodities higher. Companies tied to commodities, including Freeport-McMoRan Copper & Gold Inc., ExxonMobil Corp. and Alcoa Inc., rose more than 1 percent.

Broad stock market indexes are up approximately 12 percent since the Fed began hinting that it would begin buying bonds. The size of that rally has some traders anticipating that stock prices will fall after the Fed makes its announcement, regardless of what action it takes.

"What we're most likely seeing is a buy-the-rumor, sell-the-fact trade going on," said Nick Kalivas, an equities analyst at MF Global. "We've had a great earnings season so far, so I'm concerned that we'll get a postelection sell-off from profit-taking."

Bond prices rose slightly as investors anticipate the Fed ramping up purchases of government debt in the coming days. That drove the yield on the benchmark 10-year Treasury note down to 2.59 percent from 2.63 percent late Monday.

Pfizer Inc. shares dipped after its third-quarter revenue fell short of forecasts. The pharmaceutical company did, however, beat profit forecasts for the quarter and raised its full-year outlook.

Three stocks rose for every one that fell on the New York Stock Exchange, where trading volume came to 913 million shares.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow Jones industrial average reached a new high for the year after the Federal Reserve announced that it plans to buy $600 billion in Treasurys to stimulate the economy. The aim is to drive interest rates lower in an effort to spark spending and lending.

The Dow Jones industrial average gained 26.41, or 0.2 percent, to 11,215.13, its highest close in two years. Its previous high for 2010 of 11,205 was reached on April 26. The Dow had traded above that level four other times in the past two weeks.

Broader indexes also rose. The Standard and Poor's 500 Index rose 4.39, or 0.4 percent, to 1,197.96, while the Nasdaq composite gained 6.75, or 0.3 percent, to 2,540.27.

The central bank had hinted for two months that it planned to buy bonds in an effort to boost the economy. The Fed made firmer commitments to buy bonds under the new program than many investors had been expecting, which helped push stock indexes and most Treasury prices higher.

The NYSE DOW closed HIGHER +26.41 points +0.24% on Wednesday November 3
Sym. .........Last .......Change..........
Dow 11,215.13 +26.41 +0.24%
Nasdaq 2,540.27 +6.75 +0.27%
S&P 500 1,197.96 +4.39 +0.37%
30-yr Bond 0.3916% -3.5424

NYSE Volume 5,412,413,000 (prior day 4,288,465,000)
Nasdaq Volume 2,017,429,880 (prior day 1,934,148,120)

Australia
Symbol ......Last ....Change.......
All Ord 4,793.80
ASX 200 4,722.60
ASX 20 2,844.50

Europe
Symbol.... ......Last .....Change.......
FTSE 100 5,748.97 -8.46 -0.15%
DAX 6,617.80 -36.51 -0.55%
CAC 40 3,842.94 -22.78 -0.59%

Asia
Symbol...... ......Last .....Change.......
Nikkei 225 9,159.98 +5.26 +0.06%
Hang Seng 24,144.67 +473.25 +2.00%
Straits Times 3,224.97 +19.69 +0.61%

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

Dow hits new 2010 high after Fed details stimulus

Stocks rise after Federal Reserve says it will buy $600 billion in Treasurys

Stephen Bernard and David K. Randall, AP Business Writers, On Wednesday November 3, 2010, 4:51 pm

NEW YORK (AP) -- The Dow Jones industrial average reached a new high for the year after the Federal Reserve announced that it plans to buy $600 billion in Treasurys to stimulate the economy. The aim is to drive interest rates lower in an effort to spark spending and lending.

The Dow Jones industrial average gained 26.41, or 0.2 percent, to 11,215.13, its highest close in two years. Its previous high for 2010 of 11,205 was reached on April 26. The Dow had traded above that level four other times in the past two weeks.

Broader indexes also rose. The Standard and Poor's 500 Index rose 4.39, or 0.4 percent, to 1,197.96, while the Nasdaq composite gained 6.75, or 0.3 percent, to 2,540.27.

The central bank had hinted for two months that it planned to buy bonds in an effort to boost the economy. The Fed made firmer commitments to buy bonds under the new program than many investors had been expecting, which helped push stock indexes and most Treasury prices higher.

Instead of reassessing its bond purchases every month given economic conditions, as many expected, the Fed pledged to buy $75 billion of Treasurys each month through the middle of next year.

Stocks initially swung lower after the announcement as traders absorbed the news but then pushed steadily higher in afternoon trading, giving all three indexes gains of about 0.3 percent on the day.

Mid-term election results that delivered a solid majority to the Republicans in the House of Representatives but kept Democratic control of the Senate was in line with what most investors were expecting.

The Fed's announcement was unusually direct for the central bank, which cleared the way for many investors to step back into the market.

"The Fed's move takes a lot of uncertainty out of the air," said Anthony Chan, the chief economist for JP Morgan Chase's private wealth management division. "This puts a floor on the economy's performance and gives them the opportunity to do more if the economy needs it."

The Dow's previous highest closing level of the year, which was 11,205.03 on April 26. The index is now at a level that it last reached during the financial crisis in September 2008. Hewlett Packard Co. rose 2.1 percent to post the largest gain among the 30 companies that make up the index. Microsoft Corp.'s 1.4 percent fall made it the Dow's laggard.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, remained at 2.59 percent. The yield on the 30-year bond, which won't be targeted by the Fed's bond-buying program nearly as much as investors had hoped, rose to 4.06 percent from 3.93 percent late Tuesday.

Key economic reports that would have normally affected trading were overshadowed by the Fed's meeting.

Payroll company ADP said private employers added 43,000 jobs last month after cutting jobs in September, which usually would have driven buying in the market. The report is seen as a gauge heading into the government's monthly employment report, which is due out Friday.

The Institute for Supply Management said growth in the service sector accelerated last month when economists were expecting a slowdown in the pace of expansion. That too would normally have provided stocks a lift.

The ISM report is closely watched because the service sector accounts for about 80 percent of the nation's jobs. Earlier this week, ISM said the growth in the manufacturing activity also accelerated last month.

 

[bigdog]

Source: http://finance.yahoo.com

The Federal Reserve wanted to push interest rates lower and jump-start financial markets with its $600 billion economic stimulus plan. So far the Fed is getting the results it wants.

Long-term interest rates sank and stocks indexes hit new highs Thursday, a day after the Fed announced its massive bond-buying plan. The Dow Jones industrial average soared more than 220 points, reaching another high for the year. All three main stock indexes have now reached 2010 highs this week.

After five straight days of gains, the Dow Jones industrial average returned to levels last seen in early September 2008, before the collapse of Lehman Brothers and the worst days of the financial crisis.

The NYSE DOW closed HIGHER +219.71 points +1.96% on Thursday November 4
Sym. .........Last .......Change..........
Dow 11,434.84 +219.71 +1.96%
Nasdaq 2,577.34 +37.07 +1.46%
S&P 500 1,221.06 +23.10 +1.93%
30-yr Bond 0.3916% 0.0000

NYSE Volume 6,677,299,000 (prior day 5,412,413,000)
Nasdaq Volume 2,543,724,500 (prior day 2,017,429,880)

Australia
Symbol ......Last ....Change.......
All Ord 4,817.50 +23.70 +0.49%
ASX 200 4,745.30 +22.70 +0.48%
ASX 20 2,856.00 +11.50 +0.40%

Europe
Symbol.... ......Last .....Change.......
FTSE 100 5,862.79 +113.82 +1.98%
DAX 6,734.69 +116.89 +1.77%
CAC 40 3,916.78 +73.84 +1.92%

Asia
Symbol...... ......Last .....Change.......
Nikkei 225 9,358.78 +198.80 +2.17%
Hang Seng 24,535.63 +390.96 +1.62%
Straits Times 3,240.31 +15.34 +0.48%

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

Stocks set highs for 2010 after boost from the Fed

Dow jumps 219 as retailers, energy shares post big gains following Fed's move on the economy

David K. Randall, AP Business Writer, On Thursday November 4, 2010, 5:43 pm

NEW YORK (AP) -- The Federal Reserve wanted to push interest rates lower and jump-start financial markets with its $600 billion economic stimulus plan. So far the Fed is getting the results it wants.

Long-term interest rates sank and stocks indexes hit new highs Thursday, a day after the Fed announced its massive bond-buying plan. The Dow Jones industrial average soared more than 220 points, reaching another high for the year. All three main stock indexes have now reached 2010 highs this week.

After five straight days of gains, the Dow Jones industrial average returned to levels last seen in early September 2008, before the collapse of Lehman Brothers and the worst days of the financial crisis.

"Much of today's gains comes as a result of the government pumping money into the market," said Joe Kinahan, the chief derivatives strategist at TD Ameritrade.

The dollar fell against other currencies as traders anticipated lower U.S. interest rates because of the Fed's bond-buying program. Crude oil, gold and other commodities rose.

The Dow rose 219.71 points, or 2.0 percent, to close at 11,434.84. The broader S&P 500 index rose 23.10 points, or 1.9 percent, to 1,221.06, and the technology-heavy Nasdaq composite gained 37.07 points, or 1.5 percent to 2,577.34.

Retailers reported solid sales in October, sending shares of major retailing companies sharply higher. Gap Inc. rose 6 percent while Macy's Inc. jumped 6.6 percent.

"Those retail numbers are telling us that the holiday season is going to get off to a good start," said Stephen Jones, the chairman of Jones Villalta Funds.

On Wednesday, the Federal Reserve announced it plans to buy $600 billion in bonds in an effort to spur spending and ultimately lower the unemployment rate. The central bank was unusually detailed in its announcement, saying it planned to spend $75 billion a month on bonds until at least the middle of next year. That's on top of the roughly $35 billion a month its already buying.

In corporate news, shares of BHP Billiton, the world's largest mining company, rose 5.9 percent after the Canadian government rejected BHP's $38.6 billion bid to buy Potash Corp. of Saskatchewan. After the market closes, Kraft Foods Inc., Starbucks Corp. and CBS Corp. will announce earnings.

The Fed's plan will increase the supply of dollars held by banks and most likely push the value of the currency down. The dollar is at its lowest level since December 2009 against a broad basket of currencies, and was down 0.8 percent against that index Thursday. Energy prices jumped, sending oil up $1.80 to $86.49.

Finance ministers in emerging economies like China and Brazil have criticized the Fed's stimulus plan, arguing that low interest rates in the U.S. could fuel asset bubbles in their countries.

Treasury prices have been climbing since the Fed's announcement Wednesday afternoon. The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.47 percent from 2.58 percent the day before.

Five stocks rose for every one that fell on the New York Stock Exchange, where consolidated volume came to 5.8 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks struggled to end barely higher Friday after a blowout report on job creation failed to extend a powerful rally this week driven by the Federal Reserve's latest plan to pump up the economy.

The Dow Jones industrial average waffled between gains and losses for much of the day before ending with a gain of just 9 points. Earlier in the week the Dow reached its highest level since September 2008, just before the peak of the financial crisis, over enthusiasm about the Fed's $600 billion bond-buying program announced Wednesday.

Stocks rapidly lost momentum Friday, despite a report from the Labor Department showing that employers added 151,000 jobs last month, the first gain since May and far more than analysts had anticipated.

The NYSE DOW closed HIGHER +9.24 ponits +0.08% on Friday November 5
Sym. .........Last .......Change..........
Dow 11,444.08 +9.24 +0.08%
Nasdaq 2,578.98 +1.64 +0.06%
S&P 500 1,225.85 +4.79 +0.39%
30-yr Bond 0.3916% 0.0000

NYSE Volume 6,298,344,500 (prior day 6,677,299,000)
Nasdaq Volume 2,107,994,500 (prior day 2,543,724,500)

Australia
Symbol ......Last ....Change.......
All Ord 4,872.90 +55.40 +1.15%
ASX 200 4,800.60 +55.30 +1.17%
ASX 20 2,891.90 +35.90 +1.26%

Europe
Symbol.... ......Last .....Change.......
FTSE 100 5,875.35 +12.56 +0.21%
DAX 6,754.20 +19.51 +0.29%
CAC 40 3,916.73 -0.05 -0.00%

Asia
Symbol...... ......Last .....Change.......
Nikkei 225 9,625.99 +267.21 +2.86%
Hang Seng 24,876.82 +341.19 +1.39%
Straits Times 3,240.31 +15.34 +0.48%

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

Stocks post meager gains despite strong jobs news

Investors shrug off best jobs report in 5 months; weeklong stock rally loses steam

Seth Sutel, AP Business Writer, On Friday November 5, 2010, 4:48 pm

NEW YORK (AP) -- Stocks struggled to end barely higher Friday after a blowout report on job creation failed to extend a powerful rally this week driven by the Federal Reserve's latest plan to pump up the economy.

The Dow Jones industrial average waffled between gains and losses for much of the day before ending with a gain of just 9 points. Earlier in the week the Dow reached its highest level since September 2008, just before the peak of the financial crisis, over enthusiasm about the Fed's $600 billion bond-buying program announced Wednesday.

Stocks rapidly lost momentum Friday, despite a report from the Labor Department showing that employers added 151,000 jobs last month, the first gain since May and far more than analysts had anticipated.

A poor profit report made Kraft Foods Inc. the worst-performing member of the 30 stocks that make up the Dow average. The huge food company said its net income fell more than 8 percent last quarter as it spent more to promote its brands. Bank of America Corp. and JPMorgan Chase & Co. rose sharply, bringing other financial shares along with them, on news that big banks may soon be able to raise their dividends.

The Dow closed up 9.24, or 0.1 percent, at 11,444.08. The broader Standard & Poor's 500 index edged up 4.79, or 0.4 percent, to 1,225.85, and the Nasdaq composite index edged up 1.64, or 0.1 percent, to 2,578.98.

Treasury yields inched higher as investors trimmed their holdings of defensive investments. The yield on the 10-year note rose to 2.54 percent from 2.47 percent late Thursday. The dollar rose against other currencies, and commodity prices mainly rose.

Stocks had been rallying this week as investors cheered the long-anticipated economic stimulus program from the Fed. The details of the plan were slightly more than many were expecting, and helped lead the Dow to a 220-point charge on Thursday.

The October payrolls gain was tempered by news that the national unemployment rate, which is measured by a separate survey of households, remained stuck at 9.6 percent for the third straight month. The economy needs to consistently add at least 100,000 new jobs a month just to keep up with the expansion of the population. In September, employers cut 95,000 jobs.

Unemployment has remained stubbornly high despite the official end of the recession in June of 2009 and other bright spots in the economy, including gains in manufacturing and retail spending. That high jobless rate has helped delay a rebound in the housing market and frustrated investors, everyday Americans and policymakers in Washington.

Speaking shortly after the jobs report came out, President Barack Obama said he was "open to any idea, any proposal" to help jump-start the economy. Obama, whose Democratic party lost the House of Representatives in mid-term elections on Tuesday, said the country can't afford two more years of partisan gridlock in Washington.

In other corporate news, Starbucks Corp. jumped 3.8 percent after reporting late Thursday that its earnings doubled last quarter. The world's largest coffee chain also raised its target for profits next year. Kraft fell 2.2 percent after its disappointing earnings report.

Fluor Corp. jumped 9.5 percent after the engineering and construction company said revenue and new awards rose. Coventry Health Care Inc. rose 5.9 percent after the health insurer said its income more than doubled in the last quarter and raised its full-year profit forecast.

Overseas markets were mostly higher. Britain's FT-SE edged up 0.2 percent, Germany's DAX rose 0.3 percent and France's CAC-40 was flat.

Japan's Nikkei 225 jumped 2.9 percent after that country's central bank outlined details of its own program to stimulate its economy by buying up debt securities.

3963

 

[bigdog]

Source: http://finance.yahoo.com

Stocks pulled back Monday as traders retreated from a rally that brought indexes to their highest levels since the peak of the financial crisis in September 2008.

Gold crossed $1,400 an ounce to another record on Monday as traders looked for safe places to park money.

The Dow Jones industrial average fell 37.24, or 0.3 percent, to close at 11,406.84. It surged 2.9 percent last week after the Federal Reserved announced a $600 billion stimulus package for the U.S. economy.

The Standard and Poor's 500 index fell 2.60, or 0.2 percent, to 1,223.25.

The Nasdaq composite index continued to outperform other market measures, as it has done all year, edging up 1.07, or 0.04 percent, to 2,580.05. The technology-focused index is up 13.7 percent for the year, compared to a 9.4 percent gain for the Dow and a 9.7 gain for the S&P 500.

The NYSE DOW closed LOWER -37.24 points -0.33% on Monday November 8
Sym. .........Last .......Change..........
Dow 11,406.84 -37.24 -0.33%
Nasdaq 2,580.05 +1.07 +0.04%
S&P 500 1,223.25 -2.60 -0.21%
30-yr Bond 4.1380% +0.0120

NYSE Volume 4,495,172,000 (prior day 6,298,344,500)
Nasdaq Volume 1,832,529,620 (prior day 2,107,994,500)

Australia
Symbol ......Last ....Change.......
All Ord 4,855.30 -17.60 -0.36%
ASX 200 4,778.40 -22.20 -0.46%
ASX 20 2,872.20 -19.70 -0.68%

Europe
Symbol.... ......Last .....Change.......
FTSE 100 5,849.96 -25.39 -0.43%
DAX 6,750.50 -3.70 -0.05%
CAC 40 3,913.70 -3.03 -0.08%

Asia
Symbol...... ......Last .....Change.......
Nikkei 225 9,732.92 +106.93 +1.11%
Hang Seng 24,964.37 +87.55 +0.35%
Straits Times 3,300.40 +60.09 +1.85%

http://finance.yahoo.com/news/Stocks-fall-as-rally-runs-out-apf-974189016.html?x=0

Stocks fall as rally runs out of steam; Dow off 37

Stocks fall after last week's run to more than 2-year highs; gold to $1,400 an ounce

David K. Randall, Associated Press Business Writer, On Monday November 8, 2010, 4:45 pm

NEW YORK (AP) -- Stocks pulled back Monday as traders retreated from a rally that brought indexes to their highest levels since the peak of the financial crisis in September 2008.

Gold crossed $1,400 an ounce to another record on Monday as traders looked for safe places to park money.

The Dow Jones industrial average fell 37.24, or 0.3 percent, to close at 11,406.84. It surged 2.9 percent last week after the Federal Reserved announced a $600 billion stimulus package for the U.S. economy.

The Standard and Poor's 500 index fell 2.60, or 0.2 percent, to 1,223.25.

The Nasdaq composite index continued to outperform other market measures, as it has done all year, edging up 1.07, or 0.04 percent, to 2,580.05. The technology-focused index is up 13.7 percent for the year, compared to a 9.4 percent gain for the Dow and a 9.7 gain for the S&P 500.

Financial companies were down the most among the 10 industry groups that make up the S&P 500 index. Technology, energy and materials companies were the only groups in the index to show meager gains.

"Today is shaping up to be a modest sell-off and that's to be expected," said Barnaby Levin, a managing director at HighTower Advisors.

Stocks have risen in recent weeks on better-than-expected corporate earnings reports and the introduction of a bond-buying program by the Federal Reserve that is intended to stimulate the economy by driving interest rates lower and encouraging spending.

The dollar rose 0.5 percent against a broad basket of currencies. That's a negative for big U.S. companies like Caterpillar Inc. that do a lot of business overseas, since a stronger dollar makes their products more expensive in other countries. Caterpillar was off 0.5 percent, and Boeing Co., another big exporter, was off 1.5 percent, putting it in a tie with Travelers Cos. for biggest laggard among the 30 companies that make up the Dow.

Despite weakness in other financial stocks, shares of Bank of America Corp. rose 1.9 to make it the best performing company among the Dow 30, followed by Hewlett Packard Co. and Cisco Systems Inc.

The euro fell 0.8 percent from recent highs, in part on renewed concerns about the debt burdens of the weaker economies among countries that use the Euro. Ireland announced Thursday that it would raise taxes and seek additional cuts in government services to rein in its deficit. Yields on 10-year Irish bonds rose sharply in response. U.S. markets had swooned this spring over concerns that a fiscal crisis in Greece would spread to Portugal, Spain and other weak economies in the euro zone.

Prices for Treasury bonds fell. The yield on the 10-year Treasury bond rose slightly to 2.55 percent, from 2.53 percent late Friday.

St. Louis Fed President James Bullard on Monday defended the central bank's stimulus program in a meeting at the New York Society of Security Analysts. Bullard said that the pace of economic recovery had slowed, which made deflation, rather than inflation, a greater concern for the Fed.

"U.S. policy should strive to avoid the possiblity of a Japanese-style deflation," he said.

Japan's economy has stalled since its stock market peaked in the early 1990s. In deflation, banks curtail lending, consumers drastically cut back on spending and corporations hoard cash out of fear that prices will continue to fall.

Traders will get a better indication of consumer spending later in the week when several major retailers announce earnings. Kohl's Corp., Macy's Inc. and J.C. Penny Co. Inc. will release their third-quarter reports starting Wednesday. Retailers such as The Gap Inc. and Macy's rose more than 8 percent last week on better-than-expected October sales that suggest that consumers will increase their spending this holiday season.

Leaders from the Group of 20 industrialized and developing nations will meet Thursday and Friday in Seoul. Tensions have risen in the group regarding trade imbalances and the respective strength of the Chinese yuan and the dollar.

Officials from several countries have criticized the Fed's bond-buying program amid concerns that it will spark asset bubbles in emerging economies. Representatives in Germany, Brazil, South Africa and China have voiced objections to the plan and argued that it could lead to a surge in commodity prices.

Precious metals rose as investors hedged their bets against inflation and sought out stable stores of value. Gold gained 0.4 percent to settle at $1,403.20 an ounce, its latest record, and silver jumped 2.6 percent to $27.432 an ounce.

Falling stocks narrowly outpaced rising ones on the New York Stock Exchange, where volume came to 900 million shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks pulled back Monday as traders retreated from a rally that brought indexes to their highest levels since the peak of the financial crisis in September 2008.

Gold crossed $1,400 an ounce to another record on Monday as traders looked for safe places to park money.

The Dow Jones industrial average fell 37.24, or 0.3 percent, to close at 11,406.84. It surged 2.9 percent last week after the Federal Reserved announced a $600 billion stimulus package for the U.S. economy.

The Standard and Poor's 500 index fell 2.60, or 0.2 percent, to 1,223.25.

The Nasdaq composite index continued to outperform other market measures, as it has done all year, edging up 1.07, or 0.04 percent, to 2,580.05. The technology-focused index is up 13.7 percent for the year, compared to a 9.4 percent gain for the Dow and a 9.7 gain for the S&P 500.

The NYSE DOW closed LOWER -60.09 points -0.53% on Tuesday November 9
Sym. .........Last .......Change..........
Dow 11,346.75 -60.09 -0.53%
Nasdaq 2,562.98 -17.07 -0.66%
S&P 500 1,213.40 -9.85 -0.81%
30-yr Bond 0.3916% -3.7464

NYSE Volume 5,511,404,500 (prior day 4,495,172,000)
Nasdaq Volume 2,183,054,500 (prior day 1,832,529,620)

Australia
Symbol ......Last ....Change.......
All Ord 4,820.80 -34.50 -0.71%
ASX 200 4,740.70 -37.70 -0.79%
ASX 20 2,842.50 -29.70 -1.03%

Europe
Symbol.... ......Last .....Change.......
FTSE 100 5,875.19 +25.23 +0.43%
DAX 6,787.81 +37.31 +0.55%
CAC 40 3,945.71 +32.01 +0.82%

Asia
Symbol...... ......Last .....Change.......
Nikkei 225 9,694.49 -38.43 -0.39%
Hang Seng 24,710.60 -253.77 -1.02%
Straits Times 3,313.61 +13.21 +0.40%

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

Stocks fall as rally runs out of steam; Dow off 37

Stocks fall after last week's run to more than 2-year highs; gold to $1,400 an ounce

David K. Randall, Associated Press Business Writer, On Monday November 8, 2010, 5:34 pm EST

NEW YORK (AP) -- Stocks pulled back Monday as traders retreated from a rally that brought indexes to their highest levels since the peak of the financial crisis in September 2008.

Gold crossed $1,400 an ounce to another record on Monday as traders looked for safe places to park money.

The Dow Jones industrial average fell 37.24, or 0.3 percent, to close at 11,406.84. It surged 2.9 percent last week after the Federal Reserved announced a $600 billion stimulus package for the U.S. economy.

The Standard and Poor's 500 index fell 2.60, or 0.2 percent, to 1,223.25.

The Nasdaq composite index continued to outperform other market measures, as it has done all year, edging up 1.07, or 0.04 percent, to 2,580.05. The technology-focused index is up 13.7 percent for the year, compared to a 9.4 percent gain for the Dow and a 9.7 gain for the S&P 500.

Financial companies were down the most among the 10 industry groups that make up the S&P 500 index. Technology, energy and materials companies were the only groups in the index to show meager gains.

"Today is shaping up to be a modest sell-off and that's to be expected," said Barnaby Levin, a managing director at HighTower Advisors.

Stocks have risen in recent weeks on better-than-expected corporate earnings reports and the introduction of a bond-buying program by the Federal Reserve that is intended to stimulate the economy by driving interest rates lower and encouraging spending.

The dollar rose 0.5 percent against a broad basket of currencies. That's a negative for big U.S. companies like Caterpillar Inc. that do a lot of business overseas, since a stronger dollar makes their products more expensive in other countries. Caterpillar was off 0.5 percent, and Boeing Co., another big exporter, was off 1.5 percent, putting it in a tie with Travelers Cos. for biggest laggard among the 30 companies that make up the Dow.

Despite weakness in other financial stocks, shares of Bank of America Corp. rose 1.9 to make it the best performing company among the Dow 30, followed by Hewlett Packard Co. and Cisco Systems Inc.

The euro fell 0.8 percent from recent highs, in part on renewed concerns about the debt burdens of the weaker economies among countries that use the Euro. Ireland announced Thursday that it would raise taxes and seek additional cuts in government services to rein in its deficit. Yields on 10-year Irish bonds rose sharply in response. U.S. markets had swooned this spring over concerns that a fiscal crisis in Greece would spread to Portugal, Spain and other weak economies in the euro zone.

Prices for Treasury bonds fell. The yield on the 10-year Treasury bond rose slightly to 2.55 percent, from 2.53 percent late Friday.

St. Louis Fed President James Bullard on Monday defended the central bank's stimulus program in a meeting at the New York Society of Security Analysts. Bullard said that the pace of economic recovery had slowed, which made deflation, rather than inflation, a greater concern for the Fed.

"U.S. policy should strive to avoid the possiblity of a Japanese-style deflation," he said.

Japan's economy has stalled since its stock market peaked in the early 1990s. In deflation, banks curtail lending, consumers drastically cut back on spending and corporations hoard cash out of fear that prices will continue to fall.

Traders will get a better indication of consumer spending later in the week when several major retailers announce earnings. Kohl's Corp., Macy's Inc. and J.C. Penny Co. Inc. will release their third-quarter reports starting Wednesday. Retailers such as The Gap Inc. and Macy's rose more than 8 percent last week on better-than-expected October sales that suggest that consumers will increase their spending this holiday season.

Leaders from the Group of 20 industrialized and developing nations will meet Thursday and Friday in Seoul. Tensions have risen in the group regarding trade imbalances and the respective strength of the Chinese yuan and the dollar.

Officials from several countries have criticized the Fed's bond-buying program amid concerns that it will spark asset bubbles in emerging economies. Representatives in Germany, Brazil, South Africa and China have voiced objections to the plan and argued that it could lead to a surge in commodity prices.

Precious metals rose as investors hedged their bets against inflation and sought out stable stores of value. Gold gained 0.4 percent to settle at $1,403.20 an ounce, its latest record, and silver jumped 2.6 percent to $27.432 an ounce.

Falling stocks narrowly outpaced rising ones on the New York Stock Exchange, where volume came to 4 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks posted meager gains Wednesday as traders remained cautious ahead of a global economic summit where the U.S. is likely to face pushback from other nations over its economic stimulus plan.

Major indexes were down for much of the day but managed to edge higher by late afternoon. A report showing a sharp decline in first-time claims for unemployment benefits helped support stock prices. A jump in oil prices lifted shares of energy companies including Chevron Corp. and ConocoPhillips.

An announcement from the Federal Reserve Bank of New York detailing the Fed's plans for its upcoming bond-purchasing program helped bring stock indexes somewhat higher in the mid-afternoon. The Fed's program, announced last week, is aimed at encouraging borrowing and spending by keeping interest rates low.

The NYSE DOW closed HIGHER +10.29 points +0.09% on Wednesday November 10
Sym. .........Last .......Change..........
Dow 11,357.04 +10.29 +0.09%
Nasdaq 2,578.78 +15.80 +0.62%
S&P 500 1,218.71 +5.31 +0.44%
30-yr Bond 0.3916% 0.0000

NYSE Volume 5,275,357,500 (prior day 5,511,404,500)
Nasdaq Volume 2,022,837,620 (prior day 2,183,054,500)

Australia
Symbol ......Last ....Change.......
All Ord 4,779.50 -41.30 -0.86%
ASX 200 4,699.80 -40.90 -0.86%
ASX 20 2,815.60 -26.90 -0.95%

Europe
Symbol.... ......Last .....Change.......
FTSE 100 5,816.94 -58.25 -0.99%
DAX 6,719.84 -67.97 -1.00%
CAC 40 3,888.45 -57.26 -1.45%

Asia
Symbol...... ......Last .....Change.......
Nikkei 225 9,830.52 +136.03 +1.40%
Hang Seng 24,500.61 -209.99 -0.85%
Straits Times 3,289.24 -24.37 -0.74%

http://finance.yahoo.com/news/Stocks-edge-higher-amid-apf-2150040312.html?x=0

Stocks edge higher amid caution over G20 summit

Stocks eke out modest gains; caution prevails ahead of G20 summit; unemployment claims fall

Stephen Bernard, AP Business Writer, On Wednesday November 10, 2010, 4:54 pm

NEW YORK (AP) -- Stocks posted meager gains Wednesday as traders remained cautious ahead of a global economic summit where the U.S. is likely to face pushback from other nations over its economic stimulus plan.

Major indexes were down for much of the day but managed to edge higher by late afternoon. A report showing a sharp decline in first-time claims for unemployment benefits helped support stock prices. A jump in oil prices lifted shares of energy companies including Chevron Corp. and ConocoPhillips.

An announcement from the Federal Reserve Bank of New York detailing the Fed's plans for its upcoming bond-purchasing program helped bring stock indexes somewhat higher in the mid-afternoon. The Fed's program, announced last week, is aimed at encouraging borrowing and spending by keeping interest rates low.

The Dow Jones industrial average rose 10.29, or 0.1 percent, to close at 11,357.04. The Dow had been down as many as 92 points earlier in the day.

The Standard & Poor's 500 index added 5.31, or 0.4 percent, to 1,218.71, and the Nasdaq composite rose 15.80, or 0.6 percent, to 2,578.78.

Stocks were held in check for most of the day ahead of a summit of world leaders coming up Thursday and Friday in South Korea. The plans by the Federal Reserve to push interest rates lower has brought protests from Germany, China and other countries. They say the U.S. is trying to lower the value of the dollar, which would give an advantage to U.S. exports in global markets at the expense of those from other nations.

Uri Landesman, president at Platinum Partners, said Wednesday's pause on Wall Street is natural for a market that has been climbing nearly unchecked since early September. Major indexes have all touched highs for the year in recent days.

The yield on the benchmark 10-year Treasury note edged down to 2.65 percent from 2.66 percent late Tuesday. Oil rose $1.09 to $87.81 a barrel, and gold edged down to just below $1,400 an ounce.

In corporate news, General Motors Corp. said it earned $2 billion in the third quarter. The big profit came at the right time for the automaker. It is set for an initial public offering next week after struggling through bankruptcy and a government bailout. Shares of rival Ford Motor Co. rose 3.5 percent following the strong earnings report from GM.

European indexes slid as worries grow about debt problems in Ireland. The FTSE 100 fell 1 percent, Germany's DAX index dropped 1 percent, and France's CAC-40 fell 1.5 percent.

The euro briefly fell below $1.37 for the first time in three weeks. Concerns about mounting government debt in many European countries have been pressuring global stock markets throughout the year.

Gaining shares outnumbered falling ones three to two on the New York Stock Exchange, where volume came to 1.1 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks tumbled Thursday after a disappointing outlook from Cisco Systems Inc. rattled a market already on edge as an economic summit of world leaders got under way in South Korea.

Global leaders were sharply divided over currency and trade policies heading in to the Group of 20 summit meeting in Korea, and a sense of pessimism was hanging over the start of the meeting of top officials from rich and emerging economies.

The Dow Jones industrial average fell 73.94, or 0.7 percent, to close at 11,283.10, after trading down as much as 126 earlier in the day. The index fell for three out of the last four sessions.

Cisco disappointed investors when it cut its sales forecast for a second quarter in a row, sending its shares down 16.2 percent to $20.52. That dragged down shares of other technology stocks and other Dow components. Hewlett-Packard Co. fell 2.4 percent, while IBM Corp. fell 0.8 percent.

The NYSE DOW closed LOWER -73.94 points -0.65% on Thursday November 11
Sym. .........Last .......Change..........
Dow 11,283.10 -73.94 -0.65%
Nasdaq 2,555.52 -23.26 -0.90%
S&P 500 1,213.54 -5.17 -0.42%
30-yr Bond 0.3916% 0.0000

NYSE Volume 4,389,077,000 (prior day 5,275,357,500)
Nasdaq Volume 2,567,682,500 (prior day 2,022,837,620)

Australia
Symbol ......Last ....Change.......
All Ord 4,810.30 +30.80 +0.64%
ASX 200 4,728.60 +28.80 +0.61%
ASX 20 2,832.00 +16.40 +0.58%

Europe
Symbol.... ......Last .....Change.......
FTSE 100 5,815.23 -1.71 -0.03%
DAX 6,723.41 +3.57 +0.05%
CAC 40 3,867.35 -21.10 -0.54%

Asia
Symbol...... ......Last .....Change.......
Nikkei 225 9,861.46 +30.94 +0.31%
Hang Seng 24,700.30 +199.69 +0.82%
Straits Times 3,293.39 +4.15 +0.13%

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

Stocks sink as Cisco's outlook disappoints

Stocks tumble after Cisco's disappointing sales forecast; investors cautious during G20 summit

Stephen Bernard, AP Business Writer, On Thursday November 11, 2010, 5:14 pm

NEW YORK (AP) -- Stocks tumbled Thursday after a disappointing outlook from Cisco Systems Inc. rattled a market already on edge as an economic summit of world leaders got under way in South Korea.

Global leaders were sharply divided over currency and trade policies heading in to the Group of 20 summit meeting in Korea, and a sense of pessimism was hanging over the start of the meeting of top officials from rich and emerging economies.

The Dow Jones industrial average fell 73.94, or 0.7 percent, to close at 11,283.10, after trading down as much as 126 earlier in the day. The index fell for three out of the last four sessions.

Cisco disappointed investors when it cut its sales forecast for a second quarter in a row, sending its shares down 16.2 percent to $20.52. That dragged down shares of other technology stocks and other Dow components. Hewlett-Packard Co. fell 2.4 percent, while IBM Corp. fell 0.8 percent.

"Cisco is clearly a tech benchmark," said Philip Dow, director of equity strategy at RBC Wealth Management. "With a second disappointment in a row, people are questioning if their business model is broken."

The computer network equipment maker said its revenue will rise by less than half of what analysts had predicted for its November-through-January quarter. There are worries that smaller competitors are cutting into Cisco's market share.

Technology shares have been among the best performing in recent months with more companies investing in new technology coming out of the recession. Cisco's cautious forecast puts a damper on expectations for broader growth in the sector in the coming quarters.

The Standard & Poor's 500 index fell 5.17, or 0.4 percent, to 1,213.54. The Nasdaq composite dropped 23.26, or 0.9 percent, to 2,555.52.

Volume was a bit lighter than in recent days because of the Veterans' Day holiday. Bond trading is closed for the holiday.

Investors were cautious as global leaders began an economic summit in South Korea, where the U.S. has received a cool reaction from other nations over its economic stimulus plan. China and Germany were critical of the U.S. last week after the Federal Reserve announced a bond-buying program that effectively cut the value of the dollar. In turn, the U.S. has criticized China for holding its currency artificially low.

A weak currency helps a country's exports because they become cheaper to sell overseas. That can lead to big trade imbalances and protectionist reactions from government's trying to keep their own countries' goods from being priced out of the world market.

The dollar gained ground against the euro Thursday, and was little changed against Japan's yen. The Japanese government has flooded currency markets multiple times in recent months with yen to cut the value of the currency as it hovers near a 15-year low against the dollar.

The euro has struggled in recent days because of fresh concerns about government debt problems, particularly in Ireland.

A steadily declining dollar over the past two months has helped funnel money into stocks and commodities as investors seek better returns.

Gold climbed back up over $1,400, to settle at $1403.30.

Falling shares outnumbered gaining ones two to one on the New York Stock Exchange, where volume came to 950 million shares.

 

[bigdog]

Source: http://finance.yahoo.com

The stock market recorded its biggest weekly drop in three months as a feeling of malaise took over after the U.S. failed to rally world leaders to come up with plans to strengthen global growth.

"The G-20 wasn't much of a success for the U.S.," said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group. "There's a sense that nobody really has the ideas on how to get us out of here."

On Friday, stocks and commodities took another nosedive on worries that China might put the brakes on its surging economy. Any cooling of China's economy would slow down demand for raw materials, and that sent prices of oil, metals and grains tumbling.

The Dow Jones industrial average fell 90.52, or 0.80 to 11,192.58, led by sharp losses in energy and materials stocks. Construction giant Caterpillar Inc., which has huge operations in China, fell 1.40 percent to $81.04 and oil company ExxonMobil Corp. fell 0.84 percent to $70.99.

For the week, the Dow was off 2.2 percent, its seventh-largest weekly drop this year and its biggest weekly fall since the week ending Aug. 13.

Gold fell $37.80, or 2.7 percent, to $1,365.50 an ounce. Crude oil fell $2.93, or 3.3 percent, to $84.88 a barrel

The NYSE DOW closed LOWER -90.52 points -0.80% on Friday November 12
Sym. .........Last .......Change..........
Dow 11,192.58 -90.52 -0.80%
Nasdaq 2,518.21 -37.31 -1.46%
S&P 500 1,199.21 -14.33 -1.18%
30-yr Bond 4.2680% +0.0310

NYSE Volume 4,899,339,000 (prior day 4,389,077,000)
Nasdaq Volume 2,209,054,000 (prior day 2,567,682,500)

Australia
Symbol ......Last ....Change.......
All Ord 4,778.80 -31.50 -0.65%
ASX 200 4,692.70 -35.90 -0.76%
ASX 20 2,809.30 -22.70 -0.80%

Europe
Symbol.... ......Last .....Change.......
FTSE 100 5,796.87 -18.36 -0.32%
DAX 6,734.61 +11.20 +0.17%
CAC 40 3,831.12 -36.23 -0.94%

Asia
Symbol...... ......Last .....Change.......
Nikkei 225 9,724.81 -136.65 -1.39%
Hang Seng 24,222.58 -477.72 -1.93%
Straits Times 3,252.00 -41.39 -1.26%

http://au.finance.yahoo.com/news/Stocks-record-worst-week-in-apf-1975540360.html?x=0

Stocks record worst week in three months

Stocks fall over worries China might raise rates; drop in commodities hurts oil, gold stocks

Stephen Bernard and Pallavi Gogoi, AP Business Writer, On Saturday 13 November 2010, 9:50 EST

NEW YORK (AP) -- The stock market recorded its biggest weekly drop in three months as a feeling of malaise took over after the U.S. failed to rally world leaders to come up with plans to strengthen global growth.

"The G-20 wasn't much of a success for the U.S.," said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group. "There's a sense that nobody really has the ideas on how to get us out of here."

On Friday, stocks and commodities took another nosedive on worries that China might put the brakes on its surging economy. Any cooling of China's economy would slow down demand for raw materials, and that sent prices of oil, metals and grains tumbling.

The Dow Jones industrial average fell 90.52, or 0.80 to 11,192.58, led by sharp losses in energy and materials stocks. Construction giant Caterpillar Inc., which has huge operations in China, fell 1.40 percent to $81.04 and oil company ExxonMobil Corp. fell 0.84 percent to $70.99.

For the week, the Dow was off 2.2 percent, its seventh-largest weekly drop this year and its biggest weekly fall since the week ending Aug. 13.

The Standard & Poor's 500 index fell 14.43, or 1.2 percent, to 1,199.21, while the Nasdaq composite index fell 37.31, or 1.5 percent, to 2,518.21.

The Chinese government said that the pace of inflation hit a more than two-year high in October. The markets took that as a signal that the China would hike rates to tamp down inflation. It led to a sell off in global markets, from China to the U.S. The Shanghai composite index plummeted 5.2 percent, while Hong Kong's Hang Seng fell 1.9 percent.

Gold fell $37.80, or 2.7 percent, to $1,365.50 an ounce. Crude oil fell $2.93, or 3.3 percent, to $84.88 a barrel, while soybeans plummeted 70 cents, or 5.2 percent, to $12.69 a bushel.

China's robust economy has helped offset sluggishness in developed markets like the U.S. and Europe. Many companies, like Caterpillar and McDonald's Corp. have credited international sales, particularly in China, as a reason earnings have been strong.

The speculation about a rate hike in China came as little headway was made on a plan to strengthen global growth. Leaders from the Group of 20, which includes large developed and emerging economies, failed to agree on policies about trade and currency manipulation that could stoke protectionism and a trade war.

Other nations refused to endorse a plan the U.S. presented to force China to allow the value of its currency to rise. The U.S. argues that China is keeping the value of its currency artificially low because a weak currency makes exports cheaper and more attractive globally. That, in turn, gives China an unfair advantage in global markets, helping its economy at the expense of others.

The dollar resumed its slide against other major currencies. It had rallied in recent days, particularly against the euro, as Ireland's debt crunch renewed worries about the European financial system. A fiscal crisis in Greece this spring helped bring down stocks around the world, and investors are hoping Ireland can right its own finances without having to seek a bailout as Greece did.

Bond prices fell, sending interest rates higher. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose to 2.78 percent from 2.65 percent the previous day.

Intel Corp. was among the few gainers Friday, rising 1.51 percent to $21.53 after the chip maker said it will raise its dividend 15 percent.

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

4358

 

[bigdog]

Source: http://finance.yahoo.com

Stocks slumped to a mixed finish Monday as the dollar posted its second day of gains over concerns that Europe is on the edge of another bailout.

Investors believe that Ireland may seek help from its fellow members in the European Union as its economy sputters. The dollar also spiked in May when Europe bailed out Greece. Ireland's finances are under strain after the government bailed out five banks after the country's real estate boom collapsed.

The rising value of the dollar, which hurts U.S. exports, resulted in stocks paring their gains late in the day. Stocks had risen for most of the day following following a spike in corporate dealmaking and news that retail sales in October jumped to the highest level in seven months.

Consumer spending rose 1.2 percent last month thanks to higher demand for automobiles, the Commerce Department reported. The gain was nearly double what analysts were expecting. Shares of Ford Motor Co. rose 4.3 percent following the announcement.

The NYSE DOW closed HIGHER +9.39 points +0.08% on Monday November 15
Sym. .........Last .......Change..........
Dow 11,201.97 +9.39 +0.08%
Nasdaq 2,513.82 -4.39 -0.17%
S&P 500 1,197.75 -1.46 -0.12%
30-yr Bond 4.3730% +0.1050

NYSE Volume 4,078,508,500 (prior day 4,899,339,000)
Nasdaq Volume 1,866,831,875 (prior day 2,209,054,000)

Europe
Symbol.... ......Last .....Change.......
FTSE 100 5,820.41 +23.54 +0.41%
DAX 6,790.17 +55.56 +0.82%
CAC 40 3,864.24 -3.11 -0.08%

Australia/Asia
Symbol ........... Last ....Change.......
ASX All Ord 4,773.30 -5.50 -0.12%
ASX 200 4,688.00 -4.70 -0.10%
Shanghai Comp 3,014.41 +28.98 +0.97%
Nikkei 225 9,827.51 +102.70 +1.06%
Hang Seng 24,027.18 -195.40 -0.81%
Straits Times 3,236.80 -15.20 -0.47%

http://finance.yahoo.com/news/Stocks-finish-mixed-as-dollar-apf-2331792648.html?x=0

Stocks finish mixed as dollar gains strength

Stocks pare early gains from spike in dealmaking as concerns in Europe push up the dollar

David K. Randall, AP Business Writer, On Monday November 15, 2010, 5:11 pm

NEW YORK (AP) -- Stocks slumped to a mixed finish Monday as the dollar posted its second day of gains over concerns that Europe is on the edge of another bailout.

Investors believe that Ireland may seek help from its fellow members in the European Union as its economy sputters. The dollar also spiked in May when Europe bailed out Greece. Ireland's finances are under strain after the government bailed out five banks after the country's real estate boom collapsed.

The rising value of the dollar, which hurts U.S. exports, resulted in stocks paring their gains late in the day. Stocks had risen for most of the day following following a spike in corporate dealmaking and news that retail sales in October jumped to the highest level in seven months.

Consumer spending rose 1.2 percent last month thanks to higher demand for automobiles, the Commerce Department reported. The gain was nearly double what analysts were expecting. Shares of Ford Motor Co. rose 4.3 percent following the announcement.

Caterpillar Inc., the world's largest construction machinery maker, said it would buy mining equipment maker Bucyrus International Inc. for $7.6 billion in cash, a 32 percent premium over the company's closing price on Friday. Shares of Caterpillar rose 1 percent.

Data storage company EMC Corp. also announced that it had reached a deal to buy competitor Isilon Systems Inc. for $2.2 billion in cash. It is offering $33.85 per share, a 29 percent premium over its closing price on Friday.

The push for mergers and acquisitions is a good sign for investors, said Uri Landesman, the president of Platinum Partners, a hedge fund in New York City. "It's a statement that companies are moving out from under the bombshells of 2008 and 2009 and that they don't think there will be another disaster," he said.

Corporations are holding records amount of cash on their balance sheets. Using that cash to buy rivals or to expand into new areas could be a sign that companies are less concerned about the possibility that that economy will slide into another recession soon.

The Dow Jones industrial average rose 9.39, or 0.1 percent, to close at 11,201.97. It had been up as much as 88 points earlier.

The broader Standard & Poor's 500 index fell 1.46, or 0.1 percent, to 1,197.75, while the technology-focused Nasdaq composite index fell 4.39, or 0.2 percent, to 2,513.82.

Six out of the 10 industry groups within the S&P 500 index fell. Companies in the materials industry fell the most, down 0.9 percent. Financial companies posted the index's largest gains with a 0.4 rise. JP Morgan Chase gained 1.3 percent to become the top stock among the 30 companies that make up the Dow. Walt Disney's 1.3 fall made it the laggard.

In addition to Ireland's debt woes, investors are also worried about international pushback on the Federal Reserve's plan to buy $600 billion in Treasury bonds, which U.S. trading partners say will further weaken the dollar.

Yields for Treasury bonds rose for the third straight day, lifting interest rates to their highest level in four months. The 10 year Treasury bond's yield rose to 2.93 percent, the highest since before the Federal Reserve announced that it would spend $600 billion to buy bonds in an attempt to spur the economy.

The Fed's plan came under another round of criticism on Monday after economists, hedge fund investors and historians tied to Republicans called on the Fed to halt its effort. The group believes that the Fed's plan may result in rampant inflation and a weaker dollar.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks fell for a fourth day as concerns over a slowdown in China and talks about a bailout for Irish banks combined to push the Dow Jones industrial average to its lowest level in a month.

Asian markets started a global sell-off after South Korea's central bank raised interest rates to curb inflation. Shares also fell in Shanghai and Hong Kong as speculation spread that China will take more steps to rein in its red-hot economy, which would dampen global demand for industrial goods.

"The fact that China is taking actions to tighten things up over there is having a big ripple effect here," said Bruce Simon, the chief investment officer at Ballentine Partners.

The Dow Jones industrial average fell 178.47, or 1.6 percent, to 11,023.50, having dipped below 11,000 earlier in the day for the first time since Oct. 20.

The NYSE DOW closed LOWER -178.47 ponts -1.59% on Tuesday November 16
Sym. .........Last .......Change..........
Dow 11,023.50 -178.47 -1.59%
Nasdaq 2,469.84 -43.98 -1.75%
S&P 500 1,178.34 -19.41 -1.62%
30-yr Bond 0.3916% 0.0000

NYSE Volume 6,067,964,500 (prior day 4,078,508,500)
Nasdaq Volume 2,259,247,750 (prior day 1,866,831,875)

Europe
Symbol.... ......Last .....Change.......
FTSE 100 5,690.80 -129.61 -2.23%
DAX 6,663.24 -126.93 -1.87%
CAC 40 3,762.47 -104.88 -2.71%

Asia Pacific
Symbol ........... Last ....Change.......
ASX All Ord 4,782.80 +9.50 +0.20%
Shanghai Comp 2,894.54 -119.87 -3.98%
Taiwan We... 8,312.21 +71.56 +0.87%
Nikkei 225 9,797.10 -30.41 -0.31%
Hang Seng 23,699.87 -327.31 -1.36%
Straits Times 3,213.50 -23.30 -0.72%

http://sg.finance.yahoo.com/news/Stocks-sink-on-fears-of-Asia-apf-2395909032.html?x=0

Stocks sink on Asian inflation, Euro debt fears

Stocks fall on worries about rate hikes in Asia, possible bailouts in Europe; Dow off 175

Stephen Bernard and David K. Randall, AP Business Writers, On Wednesday 17 November 2010, 5:49

NEW YORK (AP) -- Stocks fell for a fourth day as concerns over a slowdown in China and talks about a bailout for Irish banks combined to push the Dow Jones industrial average to its lowest level in a month.

Asian markets started a global sell-off after South Korea's central bank raised interest rates to curb inflation. Shares also fell in Shanghai and Hong Kong as speculation spread that China will take more steps to rein in its red-hot economy, which would dampen global demand for industrial goods.

"The fact that China is taking actions to tighten things up over there is having a big ripple effect here," said Bruce Simon, the chief investment officer at Ballentine Partners.

The Dow Jones industrial average fell 178.47, or 1.6 percent, to 11,023.50, having dipped below 11,000 earlier in the day for the first time since Oct. 20.

The Standard & Poor's 500 index fell 19.41, or 1.6 percent, to 1,178.34, while the Nasdaq composite index fell 43.98, or 1.8 percent, to 2,469.84.

All 10 industry groups in the Standard and Poor's 500, the index followed by most professional money managers, fell. Companies in the materials and energy industries lost the most ground, each falling more than 2 percent.

While Asian countries are dealing with excessive economic growth and inflation, European finance ministers were concerned that Ireland would be the latest European country to need a bailout. The country has so far refused any outside financial assistance.

A fiscal crisis earlier this year in Greece resulted in a global swoon in stock prices as investors questioned the viability of Europe's shared currency, the euro. Greece was eventually bailed out in May by fellow European nations and the International Monetary Fund.

Ireland's situation is different from Greece's, but their respective debt crises are having similar effects on markets. As new doubts emerge about Europe's ability to keep its financial system sound, investors are abandoning the euro, flocking to the dollar, dumping risky assets like stocks and sending borrowing rates for countries they see as credit risks soaring.

The yield on 10-year Irish bonds rose to 8.25 percent from 7.94 percent late Monday. Yields rise as bond prices fall. Higher yields are a sign that investors are demanding more money for their willingness to take on the risk of lending to that country.

Greece fell into a fiscal crisis following runaway spending and a lack of trust from investors following revelations that the government had published faulty budget figures. Ireland, meanwhile, is staggering under the costs of nationalizing three banks after that country's real estate boom imploded.

"It's been simmering for a while," Scott Brown, chief economist at Raymond James & Associates, said of the European debt problems. "Now it's coming to a complete boil."

Brown said Ireland is more troublesome for Europe than Greece because more of Ireland's debt is held by major banks, especially in England. A default by Ireland could be another blow to banks that have only recently recovered from the global credit crisis. Shares of British banks HSBC and Barclays PLC both fell more than 3 percent.

There are also fears that if Ireland needs a bailout it will spook investors who hold debt from other European countries.

Ireland is a "precursor to Spain," said Quincy Krosby, a market strategist at Prudential Financial. "It's a precursor to Portugal" as well.

Basic materials companies, which have benefited from the booming demand from China, were among the biggest losers in U.S. trading. Freeport-McMoRan Copper & Gold Inc. fell 4.3 percent, Alcoa was off 2.8 percent, and Monsanto Co. was off 2.4 percent.

The dollar surged against the euro, approaching its highest level against the shared European currency since late September. The dollar also jumped 0.8 percent against an index that measures it against a group of six other currencies.

Treasury prices rose for the first time in three days, sending yields lower as investors sought out relatively safe assets. The yield on the 10-year note edged down to 2.86 percent from 2.95 percent.

Shares fell overseas as well. The Stoxx 50 index, which tracks blue chip companies in Europe, fell 2.5 percent, while Japan's Nikkei fell 0.3 percent. China's Shanghai composite index fell 4 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks ended mixed Wednesday as concerns that Ireland will need outside help to repay its debts were coupled with a steep drop in housing construction in the U.S.

Global stock markets have been rattled over the past week out of fear that Ireland will become the latest European country to need a bailout. Greece was rescued in May after it became unable to contain runaway spending and lost the confidence of investors. Ireland is now struggling after a collapse in its housing market forced the country to take over three large banks.

Britain, which is not part of the 16-nation bloc that uses the euro, offered Wednesday to provide additional support to Ireland beyond what it gets from the European Union or the International Monetary Fund. That helped steady markets in Europe. The Euro Stoxx 50, which tracks blue chip companies within the euro zone, rose 0.5 percent.

The NYSE DOW closed LOWER -15.62 points -0.14% on Wednesday November 17
Sym. .........Last .......Change..........
Dow 11,007.88 -15.62 -0.14%
Nasdaq 2,476.01 +6.17 +0.25%
S&P 500 1,178.59 +0.25 +0.02%
30-yr Bond 0.3916% 0.0000

NYSE Volume 4,462,970,500 (prior day 6,067,964,500)
Nasdaq Volume 1,836,517,625 (prior day 2,259,247,750)

Europe
Symbol.... ......Last .....Change.......
FTSE 100 5,692.56 +10.66 +0.19%
DAX 6,700.07 +36.83 +0.55%
CAC 40 3,792.35 +29.88 +0.79%

Asia Pacific
Symbol ........... Last ....Change.......
ASX All Ord 4,705.10 -77.70 -1.62%
Shanghai Comp 2,838.86 -55.68 -1.92%
Taiwan We... 8,255.54 -56.67 -0.68%
Nikkei 225 9,811.66 +14.56 +0.15%
Hang Seng 23,214.46 -478.56 -2.02%
Straits Times 3,212.10 -24.70 -0.76%

http://finance.yahoo.com/news/Stock...8.html?x=0&sec=topStories&pos=9&asset=&ccode=

Stocks end mixed after 4 days of losses

Stocks trade mixed as investors watch Ireland bailout talks; housing construction falls

Stephen Bernard, AP Business Writer, On Wednesday November 17, 2010, 4:52 pm

NEW YORK (AP) -- Stocks ended mixed Wednesday as concerns that Ireland will need outside help to repay its debts were coupled with a steep drop in housing construction in the U.S.

Global stock markets have been rattled over the past week out of fear that Ireland will become the latest European country to need a bailout. Greece was rescued in May after it became unable to contain runaway spending and lost the confidence of investors. Ireland is now struggling after a collapse in its housing market forced the country to take over three large banks.

Britain, which is not part of the 16-nation bloc that uses the euro, offered Wednesday to provide additional support to Ireland beyond what it gets from the European Union or the International Monetary Fund. That helped steady markets in Europe. The Euro Stoxx 50, which tracks blue chip companies within the euro zone, rose 0.5 percent.

Construction of new homes fell 11.7 percent in October, the Commerce Department reported. Construction of new apartments fell by more than 40 percent. Homebuilders including DH Horton Inc. and PulteGroup Inc. fell.

Retail stocks were among the few industries that posted gains. Target Corp.'s shares rose 3.9 percent after reporting earnings that beat analysts' forecasts. Competitors Costco Wholesale Corp., Macy's Inc. and J.C. Penny Co. each rose by 2 percent or more.

The Dow Jones industrial average fell 15.62, or 0.1 percent, to 11,007.88. The S&P 500 rose 0.25, or less than 0.1 percent, to 1,178.59. The technology-focused Nasdaq composite index rose 6.17, or 0.3 percent, to 2,476.01

Seven out of the 10 industry groups that make up the S&P 500 fell. Companies in the consumer discretionary, energy and healthcare businesses were the only groups to post gains. Financial companies fell the most, with a 0.6 percent drop.

McDonald's Corp gained 1.2 percent to become the top performing stock among the 30 companies that make up the Dow. Home Depot fell 2.8 percent as the index's laggard.

Bond prices traded in a tight range. The yield on the 10-year Treasury note, which moves opposite its price, rose to at 2.87 percent from 2.85 percent late Tuesday. Its yield is used as a benchmark for interest rates on mortgages and other consumer and corporate loans.

The dollar fell 0.2 percent against an index of six currencies.