NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

Technology stocks rose Wednesday after the CEO of Cisco Systems Inc. promised to take "bold steps" to narrow the company's focus.

Cisco rose 5 percent, the most of any stock in the Dow Jones industrial average. CEO John Chambers said in a memo to employees that recent missteps were "unacceptable." Analysts say the company is overly reliant on revenues from state and local governments. Chambers promised that major changes were coming, although he offered few specifics.

Other technology companies also rose. Hewlett-Packard Co. rose 2.2 percent, while Microsoft Corp. and chipmaker Qualcomm Inc. each rose more than 1 percent. Broadcom Corp. gained 3.9 percent after an Oppenheimer analyst said the semiconductor company would benefit from higher sales of mobile phones.

Chip stocks were still a big focus for investors since Texas Instruments Inc. said Monday it would pay $6.5 billion in cash for National Semiconductor Corp.

Materials and energy companies fell. Monsanto Co. lost 5.6 percent after the world's biggest seed company issued an earnings forecast for the year that fell below analysts' expectations.

The NYSE DOW NYSE DOW closed HIGHER +32.85 points +0.27% on Wednesday April 6
Sym .......Last .......Change..........
Dow 12,426.75 +32.85 +0.27%
Nasdaq 2,799.82 +8.63 +0.31%
S&P 500 1,335.54 +2.91 +0.22%
30-yr Bond 4.5850% +0.0740

NYSE Volume 4,422,760,500 (prior day 4,221,791,000)
Nasdaq Volume 2,015,405,500 (prior day 1,974,934,000)


Europe
Symbol... ......Last .....Change.......
FTSE 100 6,041.13 +34.07 +0.57%
DAX 7,215.11 +39.80 +0.55%
CAC 40 4,048.16 +6.42 +0.16%


Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 5,011.40 +12.80 +0.26%
Shanghai Comp 3,001.23 +33.82 +1.14%
Taiwan We... 8,851.98 +146.85 +1.69%
Nikkei 225 9,584.37 -31.18 -0.32%
Hang Seng 24,285.05 +134.47 +0.56%
Straits Times 3,164.60 +17.85 +0.57%

http://finance.yahoo.com/news/Techn...3.html?x=0&sec=topStories&pos=1&asset=&ccode=

Technology stocks rise; Monsanto disappoints

Talk of big moves at Cisco lifts tech companies; a miss from Monsanto leads to a fall

Chip Cutter and Matthew Craft, AP Business Writers, On Wednesday April 6, 2011, 4:44 pm EDT

NEW YORK (AP) -- Technology stocks rose Wednesday after the CEO of Cisco Systems Inc. promised to take "bold steps" to narrow the company's focus.

Cisco rose 5 percent, the most of any stock in the Dow Jones industrial average. CEO John Chambers said in a memo to employees that recent missteps were "unacceptable." Analysts say the company is overly reliant on revenues from state and local governments. Chambers promised that major changes were coming, although he offered few specifics.

Other technology companies also rose. Hewlett-Packard Co. rose 2.2 percent, while Microsoft Corp. and chipmaker Qualcomm Inc. each rose more than 1 percent. Broadcom Corp. gained 3.9 percent after an Oppenheimer analyst said the semiconductor company would benefit from higher sales of mobile phones.

Chip stocks were still a big focus for investors since Texas Instruments Inc. said Monday it would pay $6.5 billion in cash for National Semiconductor Corp.

Materials and energy companies fell. Monsanto Co. lost 5.6 percent after the world's biggest seed company issued an earnings forecast for the year that fell below analysts' expectations.

Energy companies fell the most out of any group within the S&P 500 index. Halliburton Co. and Baker Hughes Inc. each lost more than 2 percent. The Energy Information Administration said U.S. crude supplies grew more than expected last week, rising by 2 million barrels. Analysts expected an increase of 1.3 million barrels. Gasoline demand also dropped by 112,000 barrels per day.

The Dow Jones industrial average rose 32.85, or 0.3 percent, to 12,426.75.

The Standard & Poor's 500 index edged up 2.91 points, or 0.2 percent, to 1,335.54. The Nasdaq composite index rose 8.63 points, or 0.3 percent, to 2,799.82.

Oil prices rose, passing $109 a barrel at one point, as the dollar weakened against major foreign currencies. Oil is priced in dollars and tends to rise when the dollar falls against other currencies. The euro climbed to a 15-month high a day before the European Central Bank was expected to increase interest rates.

Traders want to see how higher prices for oil, gas and other raw materials are affecting corporate profits. They'll get their first glimpse next Monday, when Alcoa Inc. reports its first-quarter earnings, providing the unofficial start of earnings season.

Robert Russell, president of Russell & Co., a wealth advisory firm, said he expects higher commodity prices to hurt profits.

"The U.S. markets are running on fumes at this point," he said. "There's going to be more of a strain on corporate earnings."

Abercrombie & Fitch Co. rose 3 percent after several analysts raised their price targets on the company, citing the retailer's strong 2012 earnings outlook and international prospects.

More than four stocks rose for every three that fell on the New York Stock Exchange. Trading volume was 4.1 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks are ending the day with small losses after a 7.4-magnitude earthquake struck Japan.

The Dow Jones industrial average fell as many as 96 points in morning trading, but recovered most of its losses after a tsunami warning was lifted.

The Dow fell 17.26 points, or 0.1 percent, to 12,409.49 The Standard & Poor's 500 fell 2.03, or 0.2 percent, to 1,333.51. The Nasdaq composite fell 3.68, or 0.1 percent, to 2,796.14.

The quake rattled investors, partly since it struck near the same area as the massive earthquake that triggered devastating tsunami on March 11. Stock indexes pared their losses after the impact of the latest quake appeared to be less than initially feared.

In the U.S., economic news was mostly positive. The Commerce Department said 382,000 people applied for unemployment for the first time last week. That was the third drop in four weeks. The decline in applications suggests layoffs are slowing.

The NYSE DOW NYSE DOW closed LOWER -17.26 points -0.14% on Thursday April 7
Sym .......Last .......Change..........
Dow 12,409.49 -17.26 -0.14%
Nasdaq 2,796.14 -3.68 -0.13%
S&P 500 1,333.51 -2.03 -0.15%
30-yr Bond 4.6230% +0.0380

NYSE Volume 4,358,450,000 (prior day 4,422,760,500)
Nasdaq Volume 1,822,130,250 (prior day 2,015,405,500)

Europe
Symbol... ......Last .....Change.......
FTSE 100 6,007.37 -33.76 -0.56%
DAX 7,178.78 -36.33 -0.50%
CAC 40 4,028.30 -19.86 -0.49%


Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 5,005.50 -5.90 -0.12%
Shanghai Comp 3,008.07 +0.16 +0.01%
Taiwan We... 8,901.72 +49.74 +0.56% %
Nikkei 225 9,590.93 +6.56 +0.07%
Hang Seng 24,281.80 -3.25 -0.01%
Straits Times 3,171.65 +1.32 +0.04%

http://finance.yahoo.com/news/Stocks-dip-after-another-apf-2405445319.html?x=0

Stocks dip after another earthquake hits Japan

Stocks dip after 7.4 magnitude quake hits Japan; losses moderate after tsunami warning lifted

Chip Cutter and Francesca Levy, AP Business Writers, On Thursday April 7, 2011, 5:35 pm

NEW YORK (AP) -- Stocks are ending the day with small losses after a 7.4-magnitude earthquake struck Japan.

The Dow Jones industrial average fell as many as 96 points in morning trading, but recovered most of its losses after a tsunami warning was lifted.

The Dow fell 17.26 points, or 0.1 percent, to 12,409.49 The Standard & Poor's 500 fell 2.03, or 0.2 percent, to 1,333.51. The Nasdaq composite fell 3.68, or 0.1 percent, to 2,796.14.

The quake rattled investors, partly since it struck near the same area as the massive earthquake that triggered devastating tsunami on March 11. Stock indexes pared their losses after the impact of the latest quake appeared to be less than initially feared.

In the U.S., economic news was mostly positive. The Commerce Department said 382,000 people applied for unemployment for the first time last week. That was the third drop in four weeks. The decline in applications suggests layoffs are slowing.

Major retailers also reported better-than-expected sales for March at stores that have been open at least a year. Analysts had predicted declines because of cold weather and higher gas prices.

Costco Wholesale Corp. rose 4 percent after reporting a 13 percent gain in sales. Limited Brands Inc. rose 1 percent after it said its revenue increased 14 percent because of strong sales at its Victoria's Secret stores. Nordstrom Inc. and Macy's Inc. also rose about 1 percent.

Bed Bath & Beyond Inc. rose 10 percent, the most of any stock in the Standard & Poor's 500 index. The home furnishings retailer posted strong results late Wednesday and said it expected earnings to rise 10 percent to 15 percent this year.

Constellation Brands Inc. rose 7 percent. The maker of Robert Mondavi wine and Svedka vodka recovered from a loss in the same quarter a year ago and reported a double-digit increase in wine sales in North America.

KLA-Tencor fell 5 percent, the most out of any company in the S&P 500. The chip manufacturer gets 14 percent of its revenues from Japan.

Netflix, Inc. also fell, dropping 3 percent a day after the home-entertainment company announced its decision to pay nearly $1 million per episode to stream the TV series "Mad Men." Dish Network Corp. emerged as a new competitor after announcing it would buy Blockbuster Inc. out of bankruptcy.

The yield on the 10-year Treasury note inched was flat at 3.55 percent.

The European Central Bank raised its main interest rate by a quarter point to 1.25 percent, a day after Portugal asked for a bailout. The Bank of England kept its main interest rate unchanged at 0.5 percent.

Three stocks fell for every two that rose on the New York Stock Exchange. Consolidated trading volume was 4 billion.

 

[bigdog]

Source: http://finance.yahoo.com

A surge in oil and the threat of a government shutdown weighed on stocks Friday.

Investors kept one eye on Washington, where Republicans and Democrats were in the final day of talks to reach a budget agreement. Without a deal, the federal government is expected to stop all services that aren't considered essential. That means most economic reports would be suspended. Sales of debt would continue.

Benchmark crude oil jumped $2.49 to settle at $112.79 per barrel on the New York Mercantile Exchange. That's the highest price since Sept. 22, 2008.

Over the past two months, most stocks have fallen following large jumps in oil prices as investors worried that higher transportation costs would cut into company margins and consumer spending.

The Dow Jones industrial average lost 29.44 points, or 0.2 percent, to close at 12,380.05. The Standard & Poor's 500 index slipped 5.34, or 0.4 percent, to 1,328.17. The Nasdaq composite lost 15.72, or 0.6 percent, to 2,780.42.

The Dow ended the week flat, while the S&P and Nasdaq lost 0.3 percent. All three indexes made gains in the previous two weeks.

The NYSE DOW NYSE DOW closed LOWER -29.44 points -0.24% on Friday April 8
Sym .......Last .......Change..........
Dow 12,380.05 -29.44 -0.24%
Nasdaq 2,780.42 -15.72 -0.56%
S&P 500 1,328.17 -5.34 -0.40%
30-yr Bond 4.6300% +0.0070

NYSE Volume 3,989,598,000 (prior day 4,358,450,000)
Nasdaq Volume 1,658,801,625 (prior day 1,822,130,250)

Europe
Symbol... ......Last .....Change.......
FTSE 100 6,055.75 +48.38 +0.81%
DAX 7,217.02 +38.24 +0.53%
CAC 40 4,061.91 +33.61 +0.83%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 5,036.50 +31.00 +0.62%
Shanghai Comp 3,030.10 +22.19 +0.74%
Taiwan We... 8,894.54 -7.18 -0.08%
Nikkei 225 9,768.08 +177.15 +1.85%
Hang Seng 24,396.07 +114.27 +0.47%
Straits Times 3,187.31 +15.66 +0.49%

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

Stocks waver as government shutdown looms

Stocks waver as oil jumps above $112; government shutdown hangs over the market

David K. Randall and Matthew Craft, AP Business Writers, On Friday April 8, 2011, 4:46 pm EDT

NEW YORK (AP) -- A surge in oil and the threat of a government shutdown weighed on stocks Friday.

Investors kept one eye on Washington, where Republicans and Democrats were in the final day of talks to reach a budget agreement. Without a deal, the federal government is expected to stop all services that aren't considered essential. That means most economic reports would be suspended. Sales of debt would continue.

Benchmark crude oil jumped $2.49 to settle at $112.79 per barrel on the New York Mercantile Exchange. That's the highest price since Sept. 22, 2008.

Over the past two months, most stocks have fallen following large jumps in oil prices as investors worried that higher transportation costs would cut into company margins and consumer spending.

The Dow Jones industrial average lost 29.44 points, or 0.2 percent, to close at 12,380.05. The Standard & Poor's 500 index slipped 5.34, or 0.4 percent, to 1,328.17. The Nasdaq composite lost 15.72, or 0.6 percent, to 2,780.42.

The Dow ended the week flat, while the S&P and Nasdaq lost 0.3 percent. All three indexes made gains in the previous two weeks.

Transportation companies fell. Delta Air Lines Inc. dropped 3.9 percent, and United Parcel Service Inc. lost 1 percent. Energy companies rose, leading the 10 industry groups within the S&P 500. Occidental Petroleum Corp. rose 2.6 percent, and Anadarko Petroleum Corp. rose 1.6 percent.

Todd Salamone, director of research at Schaeffer's Investment Research, said most stocks tend to rise along with oil prices over the long term. "The recent breakdown in the pattern has largely been due to fears of supply shocks," he said. "But the oil rally could also be attributed to a stronger world economy."

World markets rose broadly. The Euro Stoxx 50, an index of European blue chips, gained 0.7 percent. Japan's benchmark Nikkei index rose 1.9 percent.

Expedia Inc. rose 13 percent, the most in the S&P 500 index, after it said it would split off its TripAdvisor.com division.

More than two stocks fell for every one that rose on the New York Stock Exchange. Trading volume was 3.7 billion shares.

6625

 

[bigdog]

Source: http://finance.yahoo.com

Stocks closed mostly lower Monday after the International Monetary Fund cut its estimate for U.S. economic growth.

Alcoa Inc. fell in after-hours trading after reporting sales that came in below what analysts were expecting. The aluminum maker was the first major company to report first-quarter earnings.

Traders are concerned about the effect of higher oil and food costs on corporate profits. Stocks turned lower in the afternoon after the IMF said that higher gas prices could slow the pace of the U.S. economy and offset a boost from the Federal Reserve's bond-buying program.

The Dow Jones industrial average rose 1.06 point, or less than 0.1 percent, to close at 12,381.11. The broader S&P 500 index fell 3.71, or 0.3 percent, to 1,324.46. Energy companies fell 1.9 percent, the most of any of the 10 company groups that make up the index.

The Nasdaq composite lost 8.91, or 0.3 percent, to 2,771.51.

The NYSE DOW NYSE DOW closed HIGHER +1.06 points +0.01% on Monday April 11
Sym .......Last .......Change..........
Dow 12,381.11 +1.06 +0.01%
Nasdaq 2,771.51 -8.90 -0.32%
S&P 500 1,324.46 -3.71 -0.28%
30-yr Bond 4.6340% +0.0040

NYSE Volume 3,860,423,000 (prior day 3,989,598,000)
Nasdaq Volume 2,070,206,000 (prior day 1,658,801,625)

Europe
Symbol... ......Last .....Change.......
FTSE 100 6,053.44 -2.31 -0.04%
DAX 7,204.86 -12.16 -0.17%
CAC 40 4,038.70 -23.21 -0.57%


Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 5,064.90 +28.40 +0.56%
Shanghai Comp 3,022.54 -7.48 -0.25%
Taiwan We... 8,880.27 -14.27 -0.16%
Nikkei 225 9,719.70 -48.38 -0.50%
Hang Seng 24,303.07 -93.00 -0.38%
Straits Times 3,160.44 -26.87 -0.84%

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=1&asset=&ccode=

Stocks weaken as IMF lowers estimate for US growth

Stocks head lower after the International Monetary Fund lowers its estimate for US growth

Stan Choe and David K. Randall, AP Business Writers, On Monday April 11, 2011, 5:47 pm

NEW YORK (AP) -- Stocks closed mostly lower Monday after the International Monetary Fund cut its estimate for U.S. economic growth.

Alcoa Inc. fell in after-hours trading after reporting sales that came in below what analysts were expecting. The aluminum maker was the first major company to report first-quarter earnings.

Traders are concerned about the effect of higher oil and food costs on corporate profits. Stocks turned lower in the afternoon after the IMF said that higher gas prices could slow the pace of the U.S. economy and offset a boost from the Federal Reserve's bond-buying program.

The Dow Jones industrial average rose 1.06 point, or less than 0.1 percent, to close at 12,381.11. The broader S&P 500 index fell 3.71, or 0.3 percent, to 1,324.46. Energy companies fell 1.9 percent, the most of any of the 10 company groups that make up the index.

The Nasdaq composite lost 8.91, or 0.3 percent, to 2,771.51.

After the market closed, Alcoa Inc. reported a first-quarter profit on higher aluminum prices and sales, partially offset by a weaker dollar and higher costs for energy and raw materials. Sales fell short of expectations, sending the stock down 2.6 percent to $17.31 in after-hours trading. Alcoa is traditionally the first of the 30 companies that make up the Dow average to report earnings each quarter.

Analysts have been hopeful that overall corporate earnings will come in ahead of expectations for the ninth consecutive quarter, but they still have a long list of worries including high oil prices and an aftershock that struck Japan on the one-month anniversary of the March 11 earthquake and tsunami disaster. It was the second major aftershock in less than a week to hit the country, which is the world's third-largest economy.

Much of the earnings growth for companies so far during the recovery has come from cutting jobs and other costs. Analysts say this quarter's earnings season will show more revenue growth.

More than 30 percent of companies could report revenue growth of at least 10 percent, according to S&P senior index analyst Howard Silverblatt. Analysts expect Alcoa, for example, to say its first-quarter revenue jumped 26 percent to $6.16 billion from $4.89 billion. The global economic recovery has meant more demand for Alcoa's aluminum.

Companies are also turning to deals to help them grow. Endo Pharmaceuticals agreed to buy American Medical Systems Inc. for about $2.6 billion, a premium of 34 percent. Endo rose 0.5 percent to $41.06, and American Medical jumped 32 percent to $29.50.

Level 3 Communications rose 18 percent to $1.70. The company agreed to buy Global Crossing Ltd., which jumped 69 percent to $24.97. The all-stock transaction is valued at about $1.9 billion.

Meanwhile the struggle to control NYSE Euronext Inc. escalated.

Nasdaq OMX Group Inc. and IntercontinentalExchange Inc. said their $11.3 billion bid for the parent company of the New York Stock Exchange was rejected without any talks. NYSE Euronext said it was sticking by its $10 billion deal to be acquired by Deutsche Boerse, a German exchange operator.

NYSE Euronext fell nearly 3 percent to $37.59.

Two stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 3.5 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks drop after Japan puts nuclear crisis on par with Chernobyl; Alcoa's revenue disappoints

The Dow Jones industrial average lost more than 100 points Tuesday after Japan raised the severity of its nuclear crisis and Alcoa Inc. reported disappointing sales. A drop in oil prices pulled down energy stocks.

Markets also fell in Asia and Europe after Japan said the crisis at its crippled nuclear plant was as serious as the 1986 Chernobyl accident, though much less radiation has leaked.

The plant in northern Japan was damaged in the March 11 earthquake and tsunami disaster.

"It means slower growing coming out of Japan in the short term, and that's going to weigh on global growth," said Peter Cardillo, chief market economist at Avalon Partners Inc.

The Dow Jones industrial average fell 117.53 points, or 0.9 percent, to close at 12,263.58. That's the largest drop since March 16, when the Dow lost 242 points on fears of a nuclear meltdown in Japan.

The Standard & Poor's 500 index fell 10.30, or 0.8 percent, to 1,314.16. The Nasdaq composite index fell 26.72, or 1 percent, to 2,744.79.

The NYSE DOW NYSE DOW closed LOWER -117.53 points -0.95% on Tuesday April 12
Sym .......Last .......Change..........
Dow 12,263.58 -117.53 -0.95%
Nasdaq 2,744.79 -26.72 -0.96%
S&P 500 1,314.16 -10.30 -0.78%
30-yr Bond 4.5750% -0.0590

NYSE Volume 4,771,754,000 (prior day 3,860,423,000)
Nasdaq Volume 1,830,282,500 (prior day 2,070,206,000)


Europe
Symbol... ......Last .....Change.......
FTSE 100 5,964.47 -88.97 -1.47%
DAX 7,102.91 -101.95 -1.42%
CAC 40 3,976.60 -62.10 -1.54%


Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,990.20 -74.70 -1.47%
Shanghai Comp 3,023.33 +1.96 +0.06%
Taiwan We... 8,732.59 -147.68
Nikkei 225 9,555.26 -164.44 -1.69%
Hang Seng 23,976.37 -326.70 -1.34%
Straits Times 3,138.00 -22.44 -0.71%

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

Stocks fall after Japan raises crisis level

Stocks drop after Japan puts nuclear crisis on par with Chernobyl; Alcoa's revenue disappoints

Stan Choe and Matthew Craft, AP Business Writers, On Tuesday April 12, 2011, 4:39 pm EDT

NEW YORK (AP) -- The Dow Jones industrial average lost more than 100 points Tuesday after Japan raised the severity of its nuclear crisis and Alcoa Inc. reported disappointing sales. A drop in oil prices pulled down energy stocks.

Markets also fell in Asia and Europe after Japan said the crisis at its crippled nuclear plant was as serious as the 1986 Chernobyl accident, though much less radiation has leaked.

The plant in northern Japan was damaged in the March 11 earthquake and tsunami disaster.

"It means slower growing coming out of Japan in the short term, and that's going to weigh on global growth," said Peter Cardillo, chief market economist at Avalon Partners Inc.

The Dow Jones industrial average fell 117.53 points, or 0.9 percent, to close at 12,263.58. That's the largest drop since March 16, when the Dow lost 242 points on fears of a nuclear meltdown in Japan.

The Standard & Poor's 500 index fell 10.30, or 0.8 percent, to 1,314.16. The Nasdaq composite index fell 26.72, or 1 percent, to 2,744.79.

The situation in Japan and an unexpected drop in U.S. exports sent bond prices sharply higher and their yields lower. The yield on the 10-year note fell to 3.49 percent from 3.58 percent late Monday.

The Commerce Department said in its monthly trade report that exports fell 1.4 percent in February, more than economists had expected and a worrisome sign for U.S. economic growth. Exports had climbed 2.6 percent in January to an all-time high.

Alcoa dropped 6 percent to $16.70 after the aluminum maker's first-quarter revenues fell short of expectations. Alcoa, one of the 30 companies that make up the Dow average, is the first large company to report quarterly earnings.

Other big companies reporting results this week include JPMorgan Chase & Co., Google Inc. and Bank of America Corp.

The energy industry lost the most of the 10 that make up the S&P 500 index. Oil prices slid 3 percent to settle at $106.25 per barrel, the lowest price this month.

Goldman Sachs, which had expected higher oil prices, surprised oil traders with a report early Tuesday saying it now expects a "substantial pullback." Chevron Corp. lost 3 percent and Exxon Mobil Corp. 2 percent.

Slot machine makers dropped after WMS Industries Inc. warned that its latest earnings will fall short of expectations. WMS sank 17 percent. International Game Technology dropped 3 percent.

Three shares fell for every one that rose on the New York Stock Exchange. Trading volume was 4.4 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stock indexes gave up early losses and edged higher Wednesday after the Federal Reserve reported encouraging news on the economy. Manufacturing, consumer spending and corporate hiring increased in all 12 regions surveyed by the central bank.

Hans Olsen, chief investment officer at J.P. Morgan Private Wealth Management, said it was a good sign that the Fed's regional economic report showed that more people were quitting their jobs.

"That only happens if people are starting to feel more confident about their job prospects," Olsen said.

The Standard & Poor's 500 index rose 0.25 point, or less than 0.1 percent, to 1,314.41. The Dow Jones industrial average rose 7.41, or 0.1 percent, to 12,270.99. The Nasdaq composite gained 16.73, or 0.6 percent, to 2,761.52.

Financial stocks fell broadly after the chief executive of JPMorgan Chase said the bank's losses from mortgages will continue.

The NYSE DOW NYSE DOW closed HIGHER +7.41 points +0.06% on Wednesday April 13
Sym .......Last .......Change..........
Dow 12,270.99 +7.41 +0.06%
Nasdaq 2,761.52 +16.73 +0.61%
S&P 500 1,314.41 +0.25 +0.02%
30-yr Bond 4.5500% -0.0250

NYSE Volume 4,315,262,500 (prior day 4,771,754,000)
Nasdaq Volume 1,785,565,125 (prior day 1,830,282,500)

Europe
Symbol... ......Last .....Change.......
FTSE 100 6,010.44 +45.97 +0.77%
DAX 7,177.97 +75.06 +1.06%
CAC 40 4,006.23 +29.63 +0.75%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,999.60 +9.40 +0.19%
Shanghai Comp 3,049.93 +28.56 +0.95%
Taiwan We... 8,780.20 +47.61 +0.55%
Nikkei 225 9,641.18 +85.92 +0.90%
Hang Seng 24,135.03 +158.66 +0.66%
Straits Times 3,172.08 +34.08 +1.09%

http://finance.yahoo.com/news/Stock...5.html?x=0&sec=topStories&pos=1&asset=&ccode=

Stocks edge higher on better economic data

Stocks edge higher after Fed survey shows manufacturing, hiring improving broadly

Stan Choe and David K. Randall, AP Business Writers, On Wednesday April 13, 2011, 5:10 pm EDT

NEW YORK (AP) -- Stock indexes gave up early losses and edged higher Wednesday after the Federal Reserve reported encouraging news on the economy. Manufacturing, consumer spending and corporate hiring increased in all 12 regions surveyed by the central bank.

Hans Olsen, chief investment officer at J.P. Morgan Private Wealth Management, said it was a good sign that the Fed's regional economic report showed that more people were quitting their jobs.

"That only happens if people are starting to feel more confident about their job prospects," Olsen said.

The Standard & Poor's 500 index rose 0.25 point, or less than 0.1 percent, to 1,314.41. The Dow Jones industrial average rose 7.41, or 0.1 percent, to 12,270.99. The Nasdaq composite gained 16.73, or 0.6 percent, to 2,761.52.

Financial stocks fell broadly after the chief executive of JPMorgan Chase said the bank's losses from mortgages will continue.

JPMorgan Chase & Co., the first big bank to release first-quarter earnings, reported net income that beat expectations. The company's investment banking and credit card businesses did well, but its mortgage business remained weak. Chief executive Jamie Dimon said JPMorgan and other banks will likely pay more fees and penalties after investigations into foreclosure proceedings in all 50 states are finished.

JPMorgan lost 0.8 percent, Bank of America Corp. fell 1.5 percent and Wells Fargo & Co. lost 2.3 percent.

Stocks had risen in early trading after the government reported that retail sales rose 0.4 percent overall in March, though much of the gain was due to higher gas prices. It was the ninth straight month of increases.

President Obama outlined a proposal to cut the nation's budget deficit by reducing spending on defense and the growth of Medicare spending, while raising taxes on high-earning Americans and cutting many tax loopholes.

Silgan Holdings Inc., a consumer packaging maker, jumped 19 percent after announcing that it had agreed to buy rival Graham Packaging Co. in a cash-and-stock deal valued at $1.28 billion. Graham jumped 33 percent.

iRobot Corp., the maker of the Roomba vacuum cleaning robot, jumped 13 percent after saying it had signed a $230 million contract with the U.S. Navy to develop small robotic vehicles.

Rising and falling shares were roughly even on the New York Stock Exchange. Consolidated volume came to 3.9 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Financial stocks fell broadly Thursday, left out of a late lift that pared earlier losses for most major stock indexes.

Goldman Sachs dropped nearly 3 percent after Sen. Carl Levin, D-Mich., said that a panel he leads found new evidence that Goldman misled investors. JPMorgan Chase & Co. and Bank of America Corp. each fell more than 1 percent.

The Standard and Poor's 500 stock index added 0.11 point, or less than 0.1 percent, to close at 1,314.52. The Dow Jones industrial average rose 14.16, or 0.1 percent, to 12,285.15. The Nasdaq composite lost 1.30, or 0.1 percent, to 2,760.22.

Until recently, most investors assumed banks had put their troubles behind them, said Todd Salamone, director of research at Schaeffer's Investment Research. He pointed to JPMorgan Chase, the first large bank to release earnings. The bank reported first-quarter results Wednesday that beat forecasts, but CEO Jamie Dimon warned that the company could still take more losses from mortgages.

"That's one of the better banks," Salamone said, "so it makes you wonder what's going to happen going forward."


The NYSE DOW NYSE DOW closed HIGHER +14.16 points +0.12% on Thursday April 14
Sym .......Last .......Change..........
Dow 12,285.15 +14.16 +0.12%
Nasdaq 2,760.22 -1.30 -0.05%
S&P 500 1,314.52 +0.11 +0.01%
30-yr Bond 4.5410% -0.0090

NYSE Volume 4,348,061,500 (prior day 4,315,262,500)
Nasdaq Volume 1,733,185,375 (prior day 1,785,565,125)


Europe
Symbol... ......Last .....Change.......
FTSE 100 5,963.80 -46.64 -0.78%
DAX 7,146.56 -31.41 -0.44%
CAC 40 3,970.39 -35.84 -0.89%


Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,972.40 -27.20 -0.54%
Shanghai Comp 3,043.06 -7.34 -0.24%
Taiwan We... 8,802.73 +22.53 +0.26%
Nikkei 225 9,653.92 +12.74 +0.13%
Hang Seng 24,014.00 -121.03 -0.50%
Straits Times 3,158.92 -13.16 -0.41%

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

Stocks edge higher but leave banks behind

Stocks pare early losses and end slightly higher; energy, consumer staples lead gains

Matthew Craft and David K. Randall, AP Business Writers, On Thursday April 14, 2011, 4:41 pm EDT

NEW YORK (AP) -- Financial stocks fell broadly Thursday, left out of a late lift that pared earlier losses for most major stock indexes.

Goldman Sachs dropped nearly 3 percent after Sen. Carl Levin, D-Mich., said that a panel he leads found new evidence that Goldman misled investors. JPMorgan Chase & Co. and Bank of America Corp. each fell more than 1 percent.

The Standard and Poor's 500 stock index added 0.11 point, or less than 0.1 percent, to close at 1,314.52. The Dow Jones industrial average rose 14.16, or 0.1 percent, to 12,285.15. The Nasdaq composite lost 1.30, or 0.1 percent, to 2,760.22.

Until recently, most investors assumed banks had put their troubles behind them, said Todd Salamone, director of research at Schaeffer's Investment Research. He pointed to JPMorgan Chase, the first large bank to release earnings. The bank reported first-quarter results Wednesday that beat forecasts, but CEO Jamie Dimon warned that the company could still take more losses from mortgages.

"That's one of the better banks," Salamone said, "so it makes you wonder what's going to happen going forward."

Bank of America, the country's biggest bank and one of largest mortgage underwriters, reports earnings Friday morning.

Stock indexes were lower for most of the day after claims for unemployment benefits rose unexpectedly for the first time in three weeks. The Labor Department said 412,000 people applied for unemployment benefits last week. Economists expected claims to fall.

Applications for benefits peaked at 659,000 during the recession and have dropped by roughly 6 percent in the past four months.

Ford Motor Co. fell 1.1 percent. The car maker announced that it was expanding its recall of its F-150 pickup truck because of a problem with air bags. Ford's F-Series truck is the best-selling vehicle in the U.S.

Among companies reporting earnings, toy maker Hasbro Inc. fell 3 percent after reporting that its first-quarter profits slumped 71 percent. The results fell short of analysts' estimates.

Grocery chain Supervalu said quarterly profits and sales fell compared with a year ago. Analysts expected earnings to be worse. Supervalu rose nearly 17 percent.

Data-storage company Iron Mountain rose 5 percent. Iron Mountain replaced its CEO after a shareholder, the hedge fund Elliott Management, called for a strategic review of the business.

Rental car company Zipcar Inc. shot up nearly 56 percent on its first day of trading.

Google Inc. fell 4 percent in after-market trading after the Internet search company reported earnings that missed estimates.

Four stocks rose for every three that fell on the New York Stock Exchange. Consolidated volume came to 4 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks made modest gains Friday as encouraging signs on the economy overshadowed disappointing earnings from Google and Bank of America.

Stock indexes closed lower for the week. The Dow Jones industrial average dropped 117 points Tuesday when Japan raised the severity of its nuclear crisis and Alcoa Inc. reported disappointing sales.

The Federal Reserve reported that U.S. factories increased production for the ninth straight month. Separately, the Labor Department said consumer prices rose just 0.1 percent last month excluding food and gas prices. That's lower than the 0.2 percent increase economists were expecting.

Consumers' confidence in the economy is also growing more than analysts predicted, according to a survey by Thomas Reuters and the University of Michigan.

Bond prices rose as the Labor Department report eased concerns about inflation. The yield on the 10-year Treasury note fell to 3.41 percent from 3.51 percent late Thursday. Bond yields fall when their prices rise

The Dow Jones industrial average rose 56.68 points, or 0.5 percent, to 12,341.83. The Standard & Poor's 500 index rose 5.16 points, or 0.4 percent, to 1,319.68.

The Nasdaq composite gained 4.43, or 0.2 percent, to 2,764.65.

The NYSE DOW NYSE DOW closed HIGHER +56.68 points +0.46% on Friday April 15
Sym .......Last .......Change..........
Dow 12,341.83 +56.68 +0.46%
Nasdaq 2,764.65 +4.43 +0.16%
S&P 500 1,319.68 +5.16 +0.39%
30-yr Bond 4.4680% -0.0730

NYSE Volume 4,414,206,000 (prior day 4,348,061,500)
Nasdaq Volume 1,809,548,625 (prior day 1,733,185,375)


Europe
Symbol... ......Last .....Change.......
FTSE 100 5,996.01 +32.21 +0.54%
DAX 7,178.29 +31.73 +0.44%
CAC 40 3,974.48 +4.09 +0.10%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,939.30 -33.10 -0.67%
Shanghai Comp 3,050.81 +8.17 +0.27%
Taiwan We... 8,718.12 -84.61
Nikkei 225 9,591.52 -62.40 -0.65%
Hang Seng 24,008.07 -5.93 -0.02%
Straits Times 3,153.30 -5.62 -0.18%

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

Manufacturing, inflation news sends stocks higher

Stocks rise following reports of manufacturing growth; inflation remains tame

David K. Randall and Matthew Craft, AP Business Writers, On Friday April 15, 2011, 4:41 pm EDT

NEW YORK (AP) -- Stocks made modest gains Friday as encouraging signs on the economy overshadowed disappointing earnings from Google and Bank of America.

Stock indexes closed lower for the week. The Dow Jones industrial average dropped 117 points Tuesday when Japan raised the severity of its nuclear crisis and Alcoa Inc. reported disappointing sales.

The Federal Reserve reported that U.S. factories increased production for the ninth straight month. Separately, the Labor Department said consumer prices rose just 0.1 percent last month excluding food and gas prices. That's lower than the 0.2 percent increase economists were expecting.

Consumers' confidence in the economy is also growing more than analysts predicted, according to a survey by Thomas Reuters and the University of Michigan.

Bond prices rose as the Labor Department report eased concerns about inflation. The yield on the 10-year Treasury note fell to 3.41 percent from 3.51 percent late Thursday. Bond yields fall when their prices rise

The Dow Jones industrial average rose 56.68 points, or 0.5 percent, to 12,341.83. The Standard & Poor's 500 index rose 5.16 points, or 0.4 percent, to 1,319.68.

The Nasdaq composite gained 4.43, or 0.2 percent, to 2,764.65.

"With the data that we saw this morning, there are a lot of reasons to be cautiously optimistic that we'll see a strengthening economy for a while and a steady lift in the (stock market)," said Doug Godine, a managing director at Signal Hill, an investment bank.

Google Inc. weighed on technology stocks after the company said it missed earnings estimates, due in part to a hiring spree that will last throughout the year. The company fell 8.3 percent.

Bank of America Corp. also missed analyst estimates. The country's largest bank fell 2.4 percent as problems in the bank's mortgage business continued to weigh on its results.

Broker Charles Schwab Corp. gained 2 percent after the company said its first quarter earnings beat analyst expectations.

The S&P index lost 0.6 percent for the week, its second straight week of losses. The Dow average was down 0.3 percent, its first down week since March 18.

More than two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was 4 billion shares.
6951

 

[bigdog]

Source: http://finance.yahoo.com

A warning from Standard & Poor's that the agency might lower its rating on U.S. government debt sent stocks on their steepest slide in a month Monday.

S&P said there is a 33 percent chance it would lower the country's credit rating from AAA in the next two years if Washington fails to pare the country's debts.

The Dow Jones industrial average, the S&P 500 index and the Nasdaq composite all had their sharpest falls since March 16.

The Dow fell 140.24 points, or 1.1 percent, to close at 12,201.59. The Standard & Poor's 500 fell 14.54, or 1.1 percent, to 1,305.14. The Nasdaq composite fell 29.27, also 1.1 percent, to 2,735.38.

S&P reaffirmed the U.S. government's top credit rating of AAA but expressed doubts that Washington would move quickly to curb the country's mounting budget deficits.

U.S. government bonds are widely seen as the benchmark for the safest kind of debt. The highly unusual move by the ratings agency to lower its outlook for U.S. debt to "negative" from "stable" caught investors off guard.


The NYSE DOW NYSE DOW closed LOWER -140.24 -points 1.14% on Monday April 18
Sym .......Last .......Change..........
Dow 12,201.59 -140.24 -1.14%
Nasdaq 2,735.38 -29.27 -1.06%
S&P 500 1,305.14 -14.54 -1.10%
30-yr Bond 4.4540% -0.0140

NYSE Volume 5,058,654,000 (prior day 4,414,206,000)
Nasdaq Volume 1,821,579,000 (prior day 1,809,548,625)


Europe
Symbol... ......Last .....Change.......
FTSE 100 5,870.08 -125.93 -2.10%
DAX 7,026.85 -151.44 -2.11%
CAC 40 3,881.24 -93.24 -2.35%


Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,945.40 +6.10 +0.12%
Shanghai Comp 3,056.98 +6.46 +0.21%
Taiwan We... 8,714.48 -3.64 -0.04%
Nikkei 225 9,556.65 -34.87 -0.36%
Hang Seng 23,830.31 -177.76 -0.74%
Straits Times 3,144.38 -8.92 -0.28%

http://finance.yahoo.com/news/Stocks-sink-after-SP-issues-apf-2235068999.html?x=0

Stocks sink after S&P issues warning on US debt

Stocks have their biggest drop in a month after Standard & Poor's lowers outlook on US debt

Matthew Craft and Francesca Levy, AP Business Writers, On Monday April 18, 2011, 4:49 pm EDT

NEW YORK (AP) -- A warning from Standard & Poor's that the agency might lower its rating on U.S. government debt sent stocks on their steepest slide in a month Monday.

S&P said there is a 33 percent chance it would lower the country's credit rating from AAA in the next two years if Washington fails to pare the country's debts.

The Dow Jones industrial average, the S&P 500 index and the Nasdaq composite all had their sharpest falls since March 16.

The Dow fell 140.24 points, or 1.1 percent, to close at 12,201.59. The Standard & Poor's 500 fell 14.54, or 1.1 percent, to 1,305.14. The Nasdaq composite fell 29.27, also 1.1 percent, to 2,735.38.

S&P reaffirmed the U.S. government's top credit rating of AAA but expressed doubts that Washington would move quickly to curb the country's mounting budget deficits.

U.S. government bonds are widely seen as the benchmark for the safest kind of debt. The highly unusual move by the ratings agency to lower its outlook for U.S. debt to "negative" from "stable" caught investors off guard.

"This is a wake-up call," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc. "The government is now going to have to do something to cut the budget. That is a long-term positive for the stock market, though it might not be in the near term."

The change means that S&P could lower its rating on U.S. government debt in the future. If that were to happen, the U.S. government would have to pay more to borrow money when it issues bonds.

Since the government's borrowing rates are used as a benchmark for nearly all kinds of debt, many borrowers would also pay higher rates, including companies, homeowners and credit card users. That would have a negative impact on spending in general and the overall economy.

"The credit worthiness of the country is the underpinning on which all other asset classes are valued," said Jack Ablin, chief investment officer at Harris Private Bank. "If all of a sudden the credit quality of U.S. Treasurys isn't as high as people perceive, we could see (an) erosion of confidence and values decline."

U.S. government debt prices fell after the S&P warning came out but soon recovered. The yield on the 10-year Treasury note, which rises when the note's price falls, jumped as high 3.47 percent after the S&P's warning, from 3.38 percent just before. By late afternoon the yield was back at 3.38 percent.

The euro fell against the dollar as Europe's debt problems spread. Spain had to pay a much higher interest rate on new debt. There was speculation of a possible default by Greece, and a nationalist party in Finland made big gains in an election Sunday.

The euro was worth $1.4235 in late trading, down from $1.4436 Friday.

Citigroup Inc. closed flat at $4.42 after reporting earnings that came in just above analysts' expectations. The bank's net income fell 32 percent but it was able to set aside less money to cover losses from loan defaults as more customers made payments on time.

Several other big banks are due to report earnings this week. Traders are keen to find out if banks are lending more. Upcoming reports from Goldman Sachs Group Inc. and Wells Fargo & Co. this week are "crucial for the markets," says Quincy Krosby, a market strategist for Prudential Financial.

Industrial supply company W.W. Grainger rose 1.7 percent. The company's first-quarter net income soared after it began offering new products and pushed into Mexico, Colombia and Japan.

Four stocks fell for every one that rose on the New York Stock Exchange. Trading volume was 4.6 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Strong earnings from Johnson & Johnson helped stocks rebound Tuesday, a day after suffering their worst one-day drop in more than a month.

Johnson & Johnson rose 3.7 percent, leading the 30 companies in the Dow Jones industrial average, with earnings that beat Wall Street's expectations. The health care heavyweight also raised its full-year profit forecast.

Stocks traded in a narrow range throughout the day. Goldman Sachs and other companies reported weak earnings, and worries lingered over a warning from Standard & Poor's about U.S. government debt.

Zions Bancorporation rose 3.9 percent, the most of any company in the Standard & Poor's 500 index. The Utah bank reported a first-quarter profit after posting a loss a year ago. It also said customers were getting better at paying back loans, allowing the bank to set aside less money to cover defaults.

The Commerce Department reported that builders broke ground in March on more new homes than analysts expected. Home construction rose 7.2 percent from February.

The Dow Jones industrial average rose 65.16 points, or 0.5 percent, to close at 12,266.75. The Standard & Poor's 500 index rose 7.48, or 0.6 percent, to 1,312.62. The Nasdaq composite rose 9.59, or 0.4 percent, to 2,744.97.

The NYSE DOW NYSE DOW closed HIGHER +65.16 points +0.53% on Tuesday April 19
Sym .......Last .......Change..........
Dow 12,266.75 +65.16 +0.53%
Nasdaq 2,744.97 +9.59 +0.35%
S&P 500 1,312.62 +7.48 +0.57%
30-yr Bond 4.4270% -0.0270

NYSE Volume 4,228,962,500 (prior day 5,058,654,000)
Nasdaq Volume 1,723,697,750 (prior day 1,821,579,000)


Europe
Symbol... ......Last .....Change.......
FTSE 100 5,896.87 +26.79 +0.46%
DAX 7,039.31 +12.46 +0.18%
CAC 40 3,908.58 +27.34 +0.70%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,874.30 -71.10 -1.44%
Shanghai Comp 3,000.08 -57.25 -1.87%
Taiwan We... 8,638.55 -75.93 -0.87%
Nikkei 225 9,441.03 -115.62 -1.21%
Hang Seng 23,520.62 -309.69 -1.30%
Straits Times 3,125.37 -19.01 -0.60%

http://finance.yahoo.com/news/Stock...9.html?x=0&sec=topStories&pos=5&asset=&ccode=

Johnson & Johnson leads Dow stocks higher

Health-care giant J&J beats earnings estimates; stocks rebound from worst drop since March

Matthew Craft and Francesca Levy, AP Business Writers, On Tuesday April 19, 2011, 4:46 pm EDT

NEW YORK (AP) -- Strong earnings from Johnson & Johnson helped stocks rebound Tuesday, a day after suffering their worst one-day drop in more than a month.

Johnson & Johnson rose 3.7 percent, leading the 30 companies in the Dow Jones industrial average, with earnings that beat Wall Street's expectations. The health care heavyweight also raised its full-year profit forecast.

Stocks traded in a narrow range throughout the day. Goldman Sachs and other companies reported weak earnings, and worries lingered over a warning from Standard & Poor's about U.S. government debt.

Zions Bancorporation rose 3.9 percent, the most of any company in the Standard & Poor's 500 index. The Utah bank reported a first-quarter profit after posting a loss a year ago. It also said customers were getting better at paying back loans, allowing the bank to set aside less money to cover defaults.

The Commerce Department reported that builders broke ground in March on more new homes than analysts expected. Home construction rose 7.2 percent from February.

The Dow Jones industrial average rose 65.16 points, or 0.5 percent, to close at 12,266.75. The Standard & Poor's 500 index rose 7.48, or 0.6 percent, to 1,312.62. The Nasdaq composite rose 9.59, or 0.4 percent, to 2,744.97.

Major stock indexes posted their largest one-day drop in over a month Monday after S&P said it might lower its rating on U.S. government bonds if Washington failed to tackle its mounting debts. While the rating agency kept its U.S. debt rating at AAA, the highest possible, it warned that there was a one-in-three chance it would downgrade U.S. debt within two years.

U.S. government bonds fared well despite the S&P warning. Bond prices moved higher Monday and again on Tuesday, lowering their yields. The yield on the 10-year Treasury note edged down to 3.37 percent from 3.38 percent.

Economists and bond traders offered a handful of explanations. If S&P's warning prods Congress and the Obama administration to cut budget deficits sooner, it would likely lead to lower economic growth, leading traders to buy bonds.

"If it serves as a catalyst (for long-term debt reduction) then that's a good thing for Treasurys," said George Goncalves, head of U.S. rates strategy at Nomura Securities.

A slower economy would also lead the Federal Reserve to postpone any increases in interest rates, Goldman Sachs economists said in a note to clients. That would be another positive for bonds.

Goncalves said bond traders were more likely to worry about more immediate problems such as the looming fight in Congress over raising the federal debt limit, not the threat of a downgrade from S&P in 2013. "That's so far down the road," he said. "In this market, two years is an eternity."

Among other companies reporting earnings Tuesday, Goldman Sachs said first-quarter income fell 72 percent after it paid $1.64 billion in dividends to Warren Buffett's Berkshire Hathaway Inc. Goldman's stock slipped 1.9 percent.

Trucking company Paccar Inc. rose 4 percent after its income and revenues beat analysts' expectations.

Harley-Davidson Inc. reported that its income more than tripled but missed Wall Street estimates. The motorcycle maker's stock fell 5.3 percent.

United States Steel Corp. rose 4.5 percent after announcing the sale of its 841-foot U.S. Steel Tower, Pittsburgh's tallest building, to a New york-based investment group.

Texas Instruments Inc. fell less than 1 percent. The chip-maker said late Monday that the Japanese earthquake and tsunami set its production back, reducing first-quarter income and likely cutting into second-quarter growth.

After the market closed, Intel Corp. said earnings jumped 29 percent, surpassing estimates. Business spending on new computers offset a design error in one of its chips. Intel rose 6.2 percent in extended trading.

Two shares rose for every one that fell on the New York Stock Exchange. Trading volume was 3.9 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Strong earnings from technology companies including Intel Corp. sent stocks sharply higher Wednesday. The Nasdaq composite index had its biggest one-day jump in six months, and the Dow Jones industrial average closed at its highest level in nearly three years.

Intel rose 7.8 percent, the most of the 30 companies in the Dow average, after the chip-maker reported that its income rose 29 percent in the first quarter because of rising demand for personal computers. The results easily beat analysts' expectations and allayed concerns that surging sales of tablet computers would hurt Intel's results.

Industrial conglomerate United Technologies Corp. rose 4 percent. The company's income jumped 17 percent, also beating Wall Street expectations. The company also raised its forecast for 2011 profit.

The Dow jumped 186.79 points, or 1.5 percent, to close at 12,453.54. That's the highest close since June 5, 2008.

The Nasdaq rose 57.54, or 2.1 percent, to 2,802.51. The tech-heavy index hadn't jumped that much since Oct. 5. The Standard & Poor's 500 index rose 17.74, or 1.4 percent, to 1,330.36.

With the gains, all three indexes turned positive for the week. Stocks took a steep slide Monday after Standard & Poor's warned that it might lower its rating on U.S. government debt in the next two years. The Dow lost 140 points.

The NYSE DOW NYSE DOW closed HIGHER +186.79 points +1.52% on Tuesday April 20
Sym .......Last .......Change..........
Dow 12,453.54 +186.79 +1.52%
Nasdaq 2,802.51 +57.54 +2.10%
S&P 500 1,330.36 +17.74 +1.35%
30-yr Bond 4.4540% +0.0270

NYSE Volume 4,705,750,000 (prior day 4,228,962,500)
Nasdaq Volume 2,139,990,000 (prior day 1,723,697,750)

Europe
Symbol... ......Last .....Change.......
FTSE 100 6,022.26 +125.39 +2.13%
DAX 7,249.19 +209.88 +2.98%
CAC 40 4,004.62 +96.04 +2.46%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,940.20 +65.90 +1.35%
Shanghai Comp 3,007.77 +8.73 +0.29%
Taiwan We... 8,813.28 +174.73 +2.02%
Nikkei 225 9,606.82 +165.79 +1.76%
Hang Seng 23,896.10 +375.48 +1.60%
Straits Times 3,165.80 +40.43 +1.29%

http://finance.yahoo.com/news/Stron...5.html?x=0&sec=topStories&pos=9&asset=&ccode=

Strong tech earnings push Dow near 3-year high

Stocks end sharply higher after Intel and other tech companies blow past earnings estimates

Matthew Craft and Francesca Levy, AP Business Writers, On Wednesday April 20, 2011, 4:49 pm EDT

NEW YORK (AP) -- Strong earnings from technology companies including Intel Corp. sent stocks sharply higher Wednesday. The Nasdaq composite index had its biggest one-day jump in six months, and the Dow Jones industrial average closed at its highest level in nearly three years.

Intel rose 7.8 percent, the most of the 30 companies in the Dow average, after the chip-maker reported that its income rose 29 percent in the first quarter because of rising demand for personal computers. The results easily beat analysts' expectations and allayed concerns that surging sales of tablet computers would hurt Intel's results.

Industrial conglomerate United Technologies Corp. rose 4 percent. The company's income jumped 17 percent, also beating Wall Street expectations. The company also raised its forecast for 2011 profit.

The Dow jumped 186.79 points, or 1.5 percent, to close at 12,453.54. That's the highest close since June 5, 2008.

The Nasdaq rose 57.54, or 2.1 percent, to 2,802.51. The tech-heavy index hadn't jumped that much since Oct. 5. The Standard & Poor's 500 index rose 17.74, or 1.4 percent, to 1,330.36.

With the gains, all three indexes turned positive for the week. Stocks took a steep slide Monday after Standard & Poor's warned that it might lower its rating on U.S. government debt in the next two years. The Dow lost 140 points.

The tech rally could stretch into Thursday with help from earnings results Apple Inc. reported after the market closed. The company's results were well ahead of analysts' estimates on both sales and profits. Apple rose 2.5 percent in after-market trading.

The stronger earnings reports came after mainly disappointing results released last week. Google Inc. and Alcoa Inc. were among the big companies whose earnings didn't live up to expectations.

"The contrast from last week is driving stocks," said Clark Yingst, chief market analyst at investment bank Joseph Gunnar.

Several other prominent companies also reported much stronger earnings. Freeport-McMoRan Copper & Gold Inc. jumped 3 percent after the mining company's income came in well ahead of analysts' expectations.

Wynn Resorts Ltd. rose 6.5 percent after its revenue climbed 39 percent. The casino operator opened a new Macau resort and won more money from gamblers at table games in Las Vegas.

IBM Corp. also beat earnings expectations but the stock was flat after the company said it signed fewer overseas contracts.

Yahoo Inc. rose 4.6 percent after reporting that cost-cutting efforts pushed its earnings above Wall Street's expectations. Yahoo also reported a 10 percent jump in display advertising.

Not all companies beat expectations. Altria Group Inc. fell 0.9 percent after reporting that it sold fewer cigarettes.

AT&T Inc. fell 0.6 percent after saying it pulled in the lowest number of new subscribers for iPhones because of competition from Verizon.

Wells Fargo & Co. fell 4 percent. The bank reported a sharp decline in new mortgages.

Nearly five shares rose for every one that fell on the New York Stock Exchange. Trading volume was 4.3 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

US Markets will be closed on Friday for the Good Friday holiday.

Strong earnings reports from big companies including Apple Inc. and UnitedHealth Group Inc. lifted stocks across the market Thursday.

The Dow Jones industrial average closed at another 2011 high. The 30-company index rose 52.45 points, or 0.4 percent, to 12,505.99.

"There are a lot of concerns out there, but investors are looking at the bottom line right now, and that's earnings," said Yu-Dee Chang, the chief trader at ACE Investment Strategists, a money management firm based in Virginia.

The Standard & Poor's 500 index gained 7.02, or 0.5 percent, to 1,337.38. The S&P 500, a benchmark for most mutual funds, is now less than 6 points away from its highest close of 2011.

The gains were broad. All 10 company groups that make up the S&P index rose, led by a nearly 1 percent gain in technology companies.

The Nasdaq composite index rose 17.65 points, or 0.6 percent, to 2,820.16.

The NYSE DOW NYSE DOW closed HIGHER +52.45 points +0.42% on Wednesday April 21
Sym .......Last .......Change..........
Dow 12,505.99 +52.45 +0.42%
Nasdaq 2,820.16 +17.65 +0.63%
S&P 500 1,337.38 +7.02 +0.53%
30-yr Bond 4.4760% +0.0220

NYSE Volume 3,947,329,750 (prior day 4,705,750,000)
Nasdaq Volume 1,887,929,750 (prior day 2,139,990,000)

Europe
Symbol... ......Last .....Change.......
FTSE 100 6,018.30 -3.96 -0.07%
DAX 7,295.49 +46.30 +0.64%
CAC 40 4,021.88 +17.26 +0.43%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,995.70 +55.50 +1.12%
Shanghai Comp 3,027.21 +20.18 +0.67%
Taiwan We... 8,957.65 +144.37 +1.64%
Nikkei 225 9,685.77 +78.95 +0.82%
Hang Seng 24,138.31 +242.21 +1.01%
Straits Times 3,194.73 +28.93 +0.91%

http://finance.yahoo.com/news/Blue-chip-earnings-push-stock-apf-3618838099.html?x=0

Blue chip earnings push stock indexes higher

Apple, UnitedHealth beat earnings estimates; Dow average hits another 2011 high

Matthew Craft and David K. Randall, AP Business Writers, On Thursday April 21, 2011, 4:58 pm

NEW YORK (AP) -- Strong earnings reports from big companies including Apple Inc. and UnitedHealth Group Inc. lifted stocks across the market Thursday.

The Dow Jones industrial average closed at another 2011 high. The 30-company index rose 52.45 points, or 0.4 percent, to 12,505.99.

"There are a lot of concerns out there, but investors are looking at the bottom line right now, and that's earnings," said Yu-Dee Chang, the chief trader at ACE Investment Strategists, a money management firm based in Virginia.

The Standard & Poor's 500 index gained 7.02, or 0.5 percent, to 1,337.38. The S&P 500, a benchmark for most mutual funds, is now less than 6 points away from its highest close of 2011.

The gains were broad. All 10 company groups that make up the S&P index rose, led by a nearly 1 percent gain in technology companies.

The Nasdaq composite index rose 17.65 points, or 0.6 percent, to 2,820.16.

Apple Inc. rose nearly 3 percent after reporting sales and income late Wednesday that came in way ahead of analysts' estimates. The company sold 18.7 million iPhones in the latest quarter, millions more than expected. Verizon Wireless started selling the phones in February, ending three and a half years of exclusivity by AT&T Inc.

The Travelers Companies Inc. rose nearly 4 percent, leading the 30 companies in the Dow average, after reporting stronger earnings and a 14 percent dividend increase. The commercial insurer benefited from a drop in losses from catastrophe claims and more companies buying insurance.

UnitedHealth jumped 8 percent after the health insurer said profits rose 13 percent as more employees signed up for coverage.

The stronger earnings results were tempered by weaker-than-expected economic reports. The Labor Department said Thursday that the number of people who applied for unemployment benefits fell last week to 403,000. Economists had expected a larger drop. A separate report from the Federal Reserve Bank of Philadelphia found that manufacturing activity in the Philadelphia area fell in April.

Other companies in the Dow fell after investors found worrying signs in their earnings reports.

McDonald's Corp. fell nearly 2 percent, despite beating analyst's earnings estimates, after the company said it expects the cost of most of its ingredients to rise by as much as 5 percent throughout the year.

General Electric Co. dropped 2 percent, also despite beating estimates. The company said revenues at its industrial businesses were not growing as quickly as the company's rivals.

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

Markets will be closed on Friday for the Good Friday holiday.

 

[bigdog]

Source: http://finance.yahoo.com

Mixed corporate earnings reports weighed on stocks Monday.

Kimberly-Clark Corp., the maker of Kleenex and Huggies, dropped 2.7 percent after missing earnings estimates. The company also lowered its earnings forecast for the full year and said it plans to raise prices to offset higher costs.

Traders said rising commodity costs were making investors cautious.

"It's becoming harder to become overly exuberant over backwards-looking earnings when it's clear that consumers' pocketbooks are getting squeezed over higher gasoline costs," said Paul Zemsky, a market strategist at ING Investment Management. "Given that we're near the ... highs for the year, we're certainly not adding to our (stock) positions until we get a sense of what these oil prices mean to the consumer."

Johnson Controls Inc. fell 2.8 percent. The auto parts supplier said it expects revenue to drop by $500 million in the third quarter because of the earthquake in Japan.

The NYSE DOW NYSE DOW closed LOWER -26.11 points -0.21% on Monday April 25
Sym .......Last .......Change..........
Dow 12,479.88 -26.11 -0.21%
Nasdaq 2,825.88 +5.72 +0.20%
S&P 500 1,335.25 -2.13 -0.16%
30-yr Bond 4.4590% -0.0170

NYSE Volume 3,235,746,500 (prior day 3,947,329,750)
Nasdaq Volume 1,491,749,500 (prior day 1,887,929,750)

Europe
Symbol... ......Last .....Change.......
FTSE 100 6,018.30 closed for Monday holiday
DAX 7,295.49 closed for Monday holiday
CAC 40 4,021.88 closed for Monday holiday


Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,995.70 closed for Monday holiday
Shanghai Comp 2,965.06 +0.11 +0.00%
Nikkei 225 9,671.96 -10.25 -0.11%
Nikkei [.N225 9671.96 -10.25 -0.11%
Hang Seng 24,138.31 +242.21 +1.01%
Straits Times 3,187.72 -7.01 -0.22%

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

David K. Randall and Matthew Craft, AP Business Writers, On Monday April 25, 2011, 4:44 pm EDT

NEW YORK (AP) -- Mixed corporate earnings reports weighed on stocks Monday.

Kimberly-Clark Corp., the maker of Kleenex and Huggies, dropped 2.7 percent after missing earnings estimates. The company also lowered its earnings forecast for the full year and said it plans to raise prices to offset higher costs.

Traders said rising commodity costs were making investors cautious.

"It's becoming harder to become overly exuberant over backwards-looking earnings when it's clear that consumers' pocketbooks are getting squeezed over higher gasoline costs," said Paul Zemsky, a market strategist at ING Investment Management. "Given that we're near the ... highs for the year, we're certainly not adding to our (stock) positions until we get a sense of what these oil prices mean to the consumer."

Johnson Controls Inc. fell 2.8 percent. The auto parts supplier said it expects revenue to drop by $500 million in the third quarter because of the earthquake in Japan.

The Dow Jones industrial average lost 26.11 points, or 0.2 percent, to close at 12,479.88. The Standard & Poor's 500 index lost 2.13, or 0.2 percent, to 1,335.25. The Nasdaq composite edged up 5.72 points, or 0.2 percent, to 2,825.88.

Worries about rising prices and a weak dollar helped push up precious metals. Silver futures rose $1.09 to settle at $47.15 an ounce. The price has risen 52 percent since the first of the year. Gold rose $5.30 to settle at $1,509.10 an ounce.

Monday was light on economic data. The Commerce Department reported that sales of new homes rose more than expected in March to 300,000. That's still less than half of the 700,000-a-year pace that economists consider healthy.

More than three shares rose for every four that fell on the New York Stock Exchange. Trading volume was 2.9 billion shares.

Ford Motor Co., Coca-Cola, and 3M Co. are among the companies reporting earnings Tuesday.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks jumped to their highest levels in nearly three years Tuesday thanks to signs that earnings are rising for U.S. companies and consumers are feeling more confident about the economy. The Russell 2000, the benchmark index of small companies, neared a record high.

The new highs continue a historic recovery in the stock market. Stock indexes have more than doubled since hitting a 12-year low in March, 2009. The fastest bull market since the 1950s has now erased most of the losses stemming from the financial crisis.

Investors who bought at the top of the market in 2007 have now lost 4.2 percent, including reinvested dividends. Analysts predict stocks will continue to rise if unemployment keeps falling and global demand leads to more profit growth.

The Standard and Poor's 500 index --the benchmark for most mutual funds --reached its highest level since June 2008. It gained 11.99 points, or 0.9 percent, to 1,347.24. It's still 16 percent below the record high of 1,565 it reached in October 2007.

The Dow Jones industrial average also marked a new high for the year, rising 115.49 points, or 0.9 percent, to 12,595.37. The Nasdaq composite rose 21.66 points, or 0.8 percent, to 2,847.54.

The NYSE DOW NYSE DOW closed HIGHER +115.49 points +0.93% on Tuesday April 26
Sym .......Last .......Change..........
Dow 12,595.37 +115.49 +0.93%
Nasdaq 2,847.54 +21.66 +0.77%
S&P 500 1,347.24 +11.99 +0.90%
30-yr Bond 4.3990% -0.0600

NYSE Volume 4,434,332,000 (prior day 3,235,746,500)
Nasdaq Volume 2,079,483,500 (prior day 1,491,749,500)

Europe
Symbol... ......Last .....Change.......
FTSE 100 6,069.36 +51.06 +0.85%
DAX 7,356.51 +61.02 +0.84%
CAC 40 4,045.29 +23.41 +0.58%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,995.70 closed for holdiday
Shanghai Comp 2,939.18 -25.77 -0.87%
Taiwan We... 8,948.14 -2.61 -0.03%
Nikkei 225 9,558.69 -113.27 -1.17%
Hang Seng 24,007.38 -130.93 -0.54%
Straits Times 3,171.83 -15.89 -0.50%

http://finance.yahoo.com/news/Earni...9.html?x=0&sec=topStories&pos=4&asset=&ccode=

Earnings drive stocks to new 2011 highs

Stocks push higher on stronger earnings; Ford reports best 1Q since 1998, 3M profit jumps

Matthew Craft and David K. Randall, AP Business Writers, On Tuesday April 26, 2011, 5:09 pm

NEW YORK (AP) -- Stocks jumped to their highest levels in nearly three years Tuesday thanks to signs that earnings are rising for U.S. companies and consumers are feeling more confident about the economy. The Russell 2000, the benchmark index of small companies, neared a record high.

The new highs continue a historic recovery in the stock market. Stock indexes have more than doubled since hitting a 12-year low in March, 2009. The fastest bull market since the 1950s has now erased most of the losses stemming from the financial crisis.

Investors who bought at the top of the market in 2007 have now lost 4.2 percent, including reinvested dividends. Analysts predict stocks will continue to rise if unemployment keeps falling and global demand leads to more profit growth.

The Standard and Poor's 500 index --the benchmark for most mutual funds --reached its highest level since June 2008. It gained 11.99 points, or 0.9 percent, to 1,347.24. It's still 16 percent below the record high of 1,565 it reached in October 2007.

The Dow Jones industrial average also marked a new high for the year, rising 115.49 points, or 0.9 percent, to 12,595.37. The Nasdaq composite rose 21.66 points, or 0.8 percent, to 2,847.54.

The Russell 2000 rose 1 percent to 853.04, near the record high of 855.77 that it reached in July 2007.

Better-than-expected earnings reports from companies ranging from airlines to office products manufacturers helped drive a broad rally that included all 10 company groups that make up the S&P index. Industrial companies gained nearly 2 percent, the most of any group.

Delta Air Lines Inc. jumped 11 percent after reporting a loss that was far smaller than investors had expected.

Cummins Inc. gained 8 percent after the engine maker raised its earnings forecast for the year because of strong demand. United Parcel Service Inc. rose 1 percent after raising its own earnings estimate for the year.

"What we're seeing now is a positive reinforcement of the fact that demand is rising around the world," said Quincy Krosby, chief market strategist at Prudential Financial. That's despite the fact that some companies say rising costs are hurting their profits, Krosby said.

Ford Motor Co. rose nearly 1 percent after the carmaker reported its best first quarter earnings since 1998. Ford beat Wall Street's earnings estimates with stronger sales of new vehicles. 3M Co., the maker of Post-Its and Scotch Tape, rose 2 percent after it raised its full-year earnings expectations. The company said quarterly profit jumped 16 percent from a year ago, beating analysts' estimates.

Tuesday's gains continued a strong first-quarter earnings season. Nearly 8 in 10 companies in the S&P index that have reported earnings have fared better than analysts were expecting, according to Jonathan Golub, the chief U.S. stock strategist at UBS.

Stocks also got a lift from a report on consumer confidence that showed that worries about rising prices and unemployment eased in April. Among the encouraging signs, those who said jobs are "hard to get" dropped, while those who expected higher incomes rose.

The market's continued rebound is crucial to luring nervous Americans back into investing in stocks, said Alan Gayle, senior investment strategist at RidgeWorth Investments in Richmond, Va.

Gayle said he talks to a lot of retail investors who were burned when markets dropped in 2000 and 2008 and remain wary of putting their savings into stocks.

"The stock market in the last 10 years has disappointed a lot of investors," Gayle said. "There are some lasting scars there."

The Federal Reserve began a two-day meeting on Tuesday. Economists expect the Fed will leave short-term interest rates unchanged and end its $600 billion bond-buying program in June as scheduled. The bond-buying effort has been credited with lifting financial markets since Fed Chairman Ben Bernanke first hinted at it last August.

Three stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 4.1 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks rose to another high for the year Wednesday after Federal Reserve Chairman Ben Bernanke said central bank officials expect the economy to continue recovering as the jobs market strengthens.

The Russell 2000, an index of small stocks, hit a record. The Standard & Poor's 500 index has now doubled from its lows reached during the financial crisis.

The Fed said it expects the economy to grow as much as 3.3 percent this year. That's below the Fed's previous forecast in January, but the Fed also said it's more optimistic about jobs. It now expects the unemployment rate to fall as low as 8.4 percent by the end of the year. The unemployment is currently at a two-year low of 8.8 percent.

Bernanke's comments came during his first news conference. He was speaking after Fed officials held a two-day policy meeting. The Fed also announced that its $600 billion bond-buying program would end as scheduled in June. The Fed repeated its promise to keep interest rates low for "an extended period."

The Dow Jones industrial average rose 95.59 points, or 0.8 percent, to close at 12,690.96. The Dow was already up before Bernanke's appearance and rose another 50 points after the Fed chairman spoke. The last time the Dow was this high was in May 2008.

The Standard & Poor's 500 rose 8.42, or 0.6 percent, to 1,355.66. That was its highest price since June 2008.

The NYSE DOW NYSE DOW closed HIGHER +95.59 points +0.76% on Wednesday April 27
Sym .......Last .......Change..........
Dow 12,690.96 +95.59 +0.76%
Nasdaq 2,869.88 +22.34 +0.78%
S&P 500 1,355.66 +8.42 +0.62%
30-yr Bond 4.4630% +0.0640

NYSE Volume 4,554,347,000 (prior day 4,434,332,000)
Nasdaq Volume 2,097,381,000 (prior day 2,079,483,500)

Europe
Symbol... ......Last .....Change.......
FTSE 100 6,068.16 -1.20 -0.02%
DAX 7,404.95 +48.44 +0.66%
CAC 40 4,067.72 +22.43 +0.55%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,954.00 -41.70 -0.83%
Shanghai Comp 2,925.53 -13.46 -0.46%
Taiwan We... 9,049.25 +101.11 +1.13%
Nikkei 225 9,691.84 +133.15 +1.39%
Hang Seng 23,892.84 -114.54 -0.48%
Straits Times 3,182.68 +10.85 +0.34%

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

Stocks rise after Fed says recovery will continue

Stocks hit new '11 highs on Fed's optimism about the recovery; Russell 2000 hits a record

Chip Cutter, AP Business Writer, On Wednesday April 27, 2011, 5:42 pm EDT

NEW YORK (AP) -- Stocks rose to another high for the year Wednesday after Federal Reserve Chairman Ben Bernanke said central bank officials expect the economy to continue recovering as the jobs market strengthens.

The Russell 2000, an index of small stocks, hit a record. The Standard & Poor's 500 index has now doubled from its lows reached during the financial crisis.

The Fed said it expects the economy to grow as much as 3.3 percent this year. That's below the Fed's previous forecast in January, but the Fed also said it's more optimistic about jobs. It now expects the unemployment rate to fall as low as 8.4 percent by the end of the year. The unemployment is currently at a two-year low of 8.8 percent.

Bernanke's comments came during his first news conference. He was speaking after Fed officials held a two-day policy meeting. The Fed also announced that its $600 billion bond-buying program would end as scheduled in June. The Fed repeated its promise to keep interest rates low for "an extended period."

The Dow Jones industrial average rose 95.59 points, or 0.8 percent, to close at 12,690.96. The Dow was already up before Bernanke's appearance and rose another 50 points after the Fed chairman spoke. The last time the Dow was this high was in May 2008.

The Standard & Poor's 500 rose 8.42, or 0.6 percent, to 1,355.66. That was its highest price since June 2008.

The index has now doubled from its closing level on March 9, 2009, when it hit a 12-year low during the financial crisis. It's still 13 percent below the record high of 1,565 it reached in October 2007.

The Nasdaq composite index rose 22.34, or 0.8 percent, to 2,869.88.

The Russell 2000 index, a benchmark for small stocks, surpassed its record high of 855.77 reached in July 2007. It closed up 5.27, or 0.6 percent, to 858.31.

The economy's rapid rebound from the recession has caused small stocks to surge. Companies in the S&P 500 index have record amounts of cash on their balance sheets, leading to the widespread belief that smaller companies are natural targets for corporate acquisitions.

"The fact is that until we go into a sustained soft patch in the economy, the small (companies) are going to continue to outperform," said Quincy Krosby, market strategist at Prudential Financial.

Gold prices rose after the Fed said it would keep interest rates near zero in order to stimulate the economy. That led traders to buy gold as a hedge against inflation and a weaker dollar, both of which can result from low interest rates. Gold for June delivery rose $13.60 to settle at $1,517.10 an ounce.

Bond prices were relatively unchanged after Bernanke's press conference. The yield on the 10-year Treasury note rose to 3.35 percent from 3.32 percent late Tuesday.

Earnings results were mixed. Boeing Co. rose less than 1 percent after reporting earnings that beat analyst expectations. The airplane maker and defense contractor also said it still expects to deliver its long delayed 787 aircraft in the third quarter.

DeVry Inc. rose 7 percent. The for-profit education company reported that its earnings rose 18 percent as its revenue rose.

Broadcom Corp. fell 12 percent a day after the chip maker issued a second-quarter revenue outlook that was below analyst estimates.

Specialty glass maker Corning Inc. rose more than 2 percent after the company's revenue surged on strong sales of glass for flat-screen televisions, computers and mobile devices.

Johnson & Johnson rose less than 1 percent after the health giant said it would buy medical device maker Synthes Inc. for $21.3 billion in one of the largest deals in the company's history.

Investors were encouraged after the Commerce Department reported that businesses increased their orders for long-lasting manufactured goods by 2.5 percent in March, a bigger increase than economists had predicted.

"The manufacturing sector remains the real bright spot of the economy," said Peter Cardillo, chief market economist at New York-based brokerage house Avalon Partners Inc.

Three stocks rose for every two that fell on the New York Stock Exchange. Volume was 4.2 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks closed at another 2011 high Thursday despite modest U.S. economic growth in the first quarter.

The economy grew at a 1.8 annual rate between January and March. That's the weakest rate since last spring. Higher oil prices cut into consumer spending and bad weather slowed down construction projects.

Stocks rose modestly as investors bet that the economy would grow at a faster annual rate once gasoline prices stabilized.

The S&P 500 rose 4.82 points, or 0.4 percent, to 1,360.48. The Dow Jones industrial average rose 72.35, or 0.6 percent, to 12,763.31. The Nasdaq composite gained 2.65, or 0.1 percent, to 2,872.53.

The Russell 2000 index rose again, a day after reaching a record high. The index of small companies rose 3.24, or 0.4 percent, to 861.55.

The NYSE DOW NYSE DOW closed HIGHER +72.35 points +0.57% on Thursday April 28
Sym .......Last .......Change..........
Dow 12,763.31 +72.35 +0.57%
Nasdaq 2,872.53 +2.65 +0.09%
S&P 500 1,360.48 +4.82 +0.36%
30-yr Bond 4.4240% -0.0390

NYSE Volume 4,548,285,500 (prior day 4,554,347,000)
Nasdaq Volume 2,011,462,625 (prior day 2,097,381,000)

Europe
Symbol... ......Last .....Change.......
FTSE 100 6,069.90 +1.74 +0.03%
DAX 7,475.22 +70.27 +0.95%
CAC 40 4,104.90 +37.18 +0.91%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,952.30 -1.70 -0.03%
Shanghai Comp 2,887.67 -37.74 -1.29%
Taiwan We... 9,040.77 -8.48 -0.09%
Nikkei 225 9,849.74 +157.90 +1.63%
Hang Seng 23,805.63 -87.21 -0.37%
Straits Times 3,184.99 +2.31 +0.07%

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

Stocks rise despite weaker GDP report

Stocks reach 2011 highs despite signs that economic growth slowed in the first quarter

Chip Cutter and David K. Randall, AP Business Writers, On Thursday April 28, 2011, 4:55 pm EDT

NEW YORK (AP) -- Stocks closed at another 2011 high Thursday despite modest U.S. economic growth in the first quarter.

The economy grew at a 1.8 annual rate between January and March. That's the weakest rate since last spring. Higher oil prices cut into consumer spending and bad weather slowed down construction projects.

Stocks rose modestly as investors bet that the economy would grow at a faster annual rate once gasoline prices stabilized.

The S&P 500 rose 4.82 points, or 0.4 percent, to 1,360.48. The Dow Jones industrial average rose 72.35, or 0.6 percent, to 12,763.31. The Nasdaq composite gained 2.65, or 0.1 percent, to 2,872.53.

The Russell 2000 index rose again, a day after reaching a record high. The index of small companies rose 3.24, or 0.4 percent, to 861.55.

Corporate earnings were mixed. Procter & Gamble Co. rose nearly 1 percent after the maker of Tide detergent and Pampers diapers reported higher earnings but cut its forecast for the year due to rising costs for raw materials.

Sprint Nextel Corp. rose nearly 7 percent. The company added twice as many wireless subscribers in the first quarter as analysts had expected.

Viacom Inc. rose 3.6 percent. The owner of MTV and Paramount Pictures reported that its income grew 53 percent thanks to popular shows such as "Jersey Shore" and an improved advertising market.

Exxon Mobil Corp. fell 0.5 percent even after the oil giant reported its best quarterly earnings since 2008. The world's largest publicly traded company earned $10.65 billion in the first quarter, up from $6.3 billion in the same period last year.

Steve Quirk, senior vice president of the trader group at TD Ameritrade, said investors have come to expect strong earnings from Exxon, so even a solid quarter doesn't necessarily lift its stock price. "The anticipation is so high right now," he said.

More people applied for unemployment benefits for the first time last week. The increase, the second in three weeks, suggests that the job market remains sluggish.

The weaker economic reports helped push bond prices higher and yields lower. The yield on the 10-year Treasury note fell to 3.32 percent from 3.35 percent late Wednesday.

Stock indexes hit 2011 highs on Wednesday after the Federal Reserve said it would keep interest rates low.

Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 4.2 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Caterpillar drove the Dow Jones industrial average higher Friday after the company reported a huge gain in first-quarter earnings.

The world's largest maker of mining and construction equipment rose 2.5 percent after its earnings increased more than five-fold. The company also raised its sales and profit forecast for the year.

The Dow added 4 percent in April, its best month since December.

The Dow rose 47.23 points Friday, or 0.4 percent, to close at 12,810.54. Caterpillar accounted for 21 points of those gains. The company's stock has soared over the past year on booming demand for its products.

"The industrial sector and the manufacturing sector of this country are much stronger than many investors have perceived," said Rob Lutts, president and chief investment officer of Cabot Money Management.

The Standard & Poor's 500 index rose 3.13 points, or 0.2 percent, to close at 1,363.61. The index gained 2.8 percent in April.

The Nasdaq composite added 1.01 point to 2,873.54. It rose 3.3 percent for the month.

Both the Nasdaq and the S&P 500 had their best month since February.

The NYSE DOW NYSE DOW closed HIGHER +47.23 points +0.37% on Friday April 29
Sym .......Last .......Change..........
Dow 12,810.54 +47.23 +0.37%
Nasdaq 2,873.54 +1.01 +0.04%
S&P 500 1,363.61 +3.13 +0.23%
30-yr Bond 4.4060% -0.0180

NYSE Volume 4,064,830,750 (prior day 4,548,285,500)
Nasdaq Volume 2,749,611,250 (prior day 2,011,462,625)


Europe
Symbol... ......Last .....Change.......
FTSE 100 6,069.90 +1.74 +0.03%
DAX 7,514.46 +39.24 +0.52%
CAC 40 4,106.92 +2.02 +0.05%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,899.00 -53.30 -1.08%
Shanghai Comp 2,912.14 +25.09 +0.87%
Taiwan We... 9,007.87 -32.90 -0.36%
Nikkei 225 9,849.74 +157.90 +1.63%
Hang Seng 23,720.81 -84.82 -0.36%
Straits Times 3,179.86 -5.13 -0.16%

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

Strong earnings from Caterpillar drive Dow higher

Dow Jones average rises after strong earnings from Caterpillar; Goodyear pushes S&P higher

Chip Cutter and Matthew Craft, AP Business Writers, On Friday April 29, 2011, 4:49 pm EDT

NEW YORK (AP) -- Caterpillar drove the Dow Jones industrial average higher Friday after the company reported a huge gain in first-quarter earnings.

The world's largest maker of mining and construction equipment rose 2.5 percent after its earnings increased more than five-fold. The company also raised its sales and profit forecast for the year.

The Dow added 4 percent in April, its best month since December.

The Dow rose 47.23 points Friday, or 0.4 percent, to close at 12,810.54. Caterpillar accounted for 21 points of those gains. The company's stock has soared over the past year on booming demand for its products.

"The industrial sector and the manufacturing sector of this country are much stronger than many investors have perceived," said Rob Lutts, president and chief investment officer of Cabot Money Management.

The Standard & Poor's 500 index rose 3.13 points, or 0.2 percent, to close at 1,363.61. The index gained 2.8 percent in April.

The Nasdaq composite added 1.01 point to 2,873.54. It rose 3.3 percent for the month.

Both the Nasdaq and the S&P 500 had their best month since February.

Strong corporate earnings pushed major stock market indexes to 2011 highs in the last week of the month. On Wednesday, the S&P 500 doubled from its 12-year low reached on March 9, 2009 after the financial crisis. The Nasdaq is at its highest level since 2000.

The Russell 2000 index of small stocks also hit a record high on Wednesday after the Fed pledged to keep short-term interest rates at record lows. That motivated investors to continue buying risky investments such as small stocks.

The Russell has soared 77 percent over the past two years. Small-company stocks tend to rise more quickly than the overall market as the economy emerges from a recession. Investors also see them as likely takeover targets for larger companies that are flush with cash. The Russell rose 3.74 points, or 0.4 percent, to 865.29 Friday.

Goodyear Tire & Rubber Co. rose 12 percent, the most of any company in the Standard & Poor's 500 index, after it set a company sales record and reversed its loss from the first quarter of last year.

Coinstar Inc. rose 5 percent after the owner of Redbox DVD rental kiosks posted a 32 percent increase in its net income.

Research In Motion Ltd. fell 14 percent after the maker of the BlackBerry slashed its earnings and sales forecasts because of weak phone sales.

The dollar fell to a three-year low against an index of six major currencies. It's down 7.6 percent this year.

The dollar has been sinking against other currencies that have higher interest rates than the U.S. Low interest rates in the U.S. also encourage investors to borrow in dollars to buy investments denominated in other currencies, which also pushes the dollar lower.

Two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was 3.7 billion shares.

8190

 

[bigdog]

Source: http://finance.yahoo.com

The Bin Laden rally lasted all of three hours.

Stocks began climbing Monday morning after news of the death of the world's most wanted terrorist overnight. Strong earnings reports from Humana Inc. and other companies also pushed them higher.

But by lunchtime, the gains were gone. The major indexes wavered throughout the remainder of the day and closed slightly lower.

"As great as the news is, it doesn't have much to do with earnings or the economy," said Jack Ablin, chief investment officer at Harris Private Bank.

The Dow Jones industrial average fell 3.18 points to close at 12,807.36. The average of 30 stocks had been up as many as 65 points in morning trading.

President Barack Obama said late Sunday that bin Laden, the al-Qaida chief who masterminded the Sept. 11, 2001 attacks, had been killed by U.S. forces in Pakistan. The news lifted investors' mood when the market opened.

The NYSE DOW NYSE DOW closed LOWER -3.18 points -0.02% on Monday May 2
Sym .......Last .......Change..........
Dow 12,807.36 -3.18 -0.02%
Nasdaq 2,864.08 -9.46 -0.33%
S&P 500 1,361.22 -2.39 -0.18%
30-yr Bond 4.3930% -0.0130

NYSE Volume 4,409,112,000 (prior day 4,064,830,750)
Nasdaq Volume 2,079,603,500 (prior day 2,749,611,250)

Europe
Symbol... ......Last .....Change.......
FTSE 100 6,069.90 closed for holiday
DAX 7,527.64 +13.18 +0.18%
CAC 40 4,108.77 +1.85 +0.05%


Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,896.20 -2.80 -0.06%
Shanghai Comp closed for holiday
Taiwan We... 9,007.87 closed for holiday
Nikkei 225 10,004.20 +154.46 +1.57%
Hang Seng 23,720.81 closed for holiday
Straits Times 3,179.86 closed for holiday

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

Stocks end lower despite bin Laden death, earnings

Stocks lose steam even after bin Laden's death, strong earnings, big corporate drug deal

Chip Cutter and Matthew Craft, AP Business Writers, On Monday May 2, 2011, 4:59 pm EDT

NEW YORK (AP) -- The Bin Laden rally lasted all of three hours.

Stocks began climbing Monday morning after news of the death of the world's most wanted terrorist overnight. Strong earnings reports from Humana Inc. and other companies also pushed them higher.

But by lunchtime, the gains were gone. The major indexes wavered throughout the remainder of the day and closed slightly lower.

"As great as the news is, it doesn't have much to do with earnings or the economy," said Jack Ablin, chief investment officer at Harris Private Bank.

The Dow Jones industrial average fell 3.18 points to close at 12,807.36. The average of 30 stocks had been up as many as 65 points in morning trading.

President Barack Obama said late Sunday that bin Laden, the al-Qaida chief who masterminded the Sept. 11, 2001 attacks, had been killed by U.S. forces in Pakistan. The news lifted investors' mood when the market opened.

"It's a feel-good item," said Howard Silverblatt, senior index analyst at Standard & Poor's. "It gives closure to a lot people."

But Silverblatt expected the impact on markets to be temporary once traders shifted their focus to corporate profits and economic news.

Strong earnings over the last two weeks helped the Standard & Poor's 500 index reach its highest levels since the financial crisis on Friday, when it closed at 1363.61.

The S&P 500 index fell 2.39 points, or 0.2 percent, to 1,361.22. It had been up 7 points Monday morning. The Nasdaq composite fell 9.46 points, or 0.3 percent, to 2,864.08.

The dollar dropped against a basket of six major currencies -- the euro, Japanese yen, British pound, Canadian dollar, Swiss franc and Swedish krona -- for the eighth day straight. The dollar index sank to 72.72, its lowest point since July 2008.

Whole Foods Market Inc. fell 5 percent, making it the worst-performing stock in the S&P 500. A Jefferies analyst downgraded the company and said sales could stagnate as shoppers feel the pinch of higher gas prices.

Dish Network Corp., Chrysler Group LLC and Humana Inc. all reported strong earnings. Dish Network's first-quarter net income more than doubled, in part, because of a patent settlement with TiVo Inc. Its stock rose 16 percent.

Humana's profit rose 22 percent. The company benefited from more people enrolling in its Medicare plans. Its stock gained 0.5 percent.

The privately-held Chrysler reported its first profit since leaving bankruptcy two years ago thanks to higher sales.

Israeli drug maker Teva Pharmaceutical Industries Ltd. said it would buy Cephalon Inc. for $81.50 per share, or $6.8 billion. Cephalon's key drugs include the sleep disorder treatment Provigil and the cancer drug Treanda. Cephalon's shares rose 4 percent.

The Institute of Supply Management reported that manufacturing activity increased for the 21st month in April, though at a slightly slower pace than the month before. This was expected by economists. The Commerce Department also reported that builders started work on more projects in March after three straight monthly declines in construction spending.

Roughly three shares fell for every two that rose on the New York Stock Exchange. Trading volume was 4 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

After two weeks of strong earnings pumped up the markets, weak results from Pfizer and others deflated a broad earnings rally, at least for today.

The world's largest drug maker posted lower than expected quarterly results Tuesday, slowing a parade of positive corporate reports. Clorox, Molson Coors Brewing Co., and Beazer Homes also slipped after announcing weaker earnings.

That sent broad indexes such as the Standard & Poor's 500 lower. The Russell 2000, an index of small companies, lost 1.3 percent.

The S&P 500 fell 4.60 points, or 0.3 percent, to 1,356.62. The Nasdaq composite fell 22.46, or 0.8 percent, at 2,841.62. The Dow Jones industrial average inched out a gain of 0.15 percent to close at 12,807.51.

The NYSE DOW NYSE DOW closed HIGHER +0.15 +0.00% on Tuesday May 3
Sym .......Last .......Change..........
Dow 12,807.51 +0.15 +0.00%
Nasdaq 2,841.62 -20.22 -0.71%
S&P 500 1,356.62 -4.60 -0.34%
30-yr Bond 4.3590% -0.0340

NYSE Volume 5,066,996,500 (prior day 4,409,112,000)
Nasdaq Volume 2,234,103,750 (prior day 2,079,603,500)

Europe
Symbol... ......Last .....Change.......
FTSE 100 6,082.88 +12.98 +0.21%
DAX 7,500.70 -26.94 -0.36%
CAC 40 4,096.84 -11.93 -0.29%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,854.70 -41.50 -0.85%
Shanghai Comp 2,932.19 +20.68 +0.71%
Taiwan We... 8,946.08 -61.79 -0.69%
Nikkei 225 10,004.20 +154.46 +1.57%
Hang Seng 23,633.25 -87.56 -0.37%
Straits Times 3,153.57 -26.29 -0.83%

http://finance.yahoo.com/news/Stock...et=&ccode=&sec=topStories&pos=4&asset=&ccode=

Stocks wobble as earnings rally slows

Stocks mixed as earnings season loses its luster; Pfizer, Clorox report weak results

Chip Cutter and David K. Randall, AP Business Writers, On Tuesday May 3, 2011, 5:05 pm EDT

NEW YORK (AP) -- After two weeks of strong earnings pumped up the markets, weak results from Pfizer and others deflated a broad earnings rally, at least for today.

The world's largest drug maker posted lower than expected quarterly results Tuesday, slowing a parade of positive corporate reports. Clorox, Molson Coors Brewing Co., and Beazer Homes also slipped after announcing weaker earnings.

That sent broad indexes such as the Standard & Poor's 500 lower. The Russell 2000, an index of small companies, lost 1.3 percent.

The S&P 500 fell 4.60 points, or 0.3 percent, to 1,356.62. The Nasdaq composite fell 22.46, or 0.8 percent, at 2,841.62. The Dow Jones industrial average inched out a gain of 0.15 percent to close at 12,807.51.

Randy Bateman, chief investment officer and president of Huntington Asset Advisors, said some kind of weakness was natural following a mostly positive earnings season. About 65 percent of companies in the S&P 500 have reported their results, and earnings are up about 21 percent from the same period last year, according to FactSet.

"We've had such a strong, hard run for the entirety of the year in the face of an awful lot of adversity," Bateman said. "Investors are going to sit back a little bit and say, `How much more good news is out there?'"

Pfizer Inc. fared worst in the Dow Jones industrial average Tuesday, losing nearly 3 percent after the company reduced its revenue forecast for 2011.

Clorox Co. fell 3.6 percent and Molson Coors Brewing Co. fell nearly 6 percent after each reported lower net income compared to the same period last year. The consumer goods maker and beverage company both blamed higher costs for raw materials for the decline.

Beazer Homes USA Inc. slipped 5 percent. The homebuilder reported a larger-than-expected loss because orders for new homes fell, reflecting continued weakness in the housing industry.

The losses came after a string of stronger than expected earnings reports pushed the broad stock market up 2 percent this quarter. The Dow Jones industrial average gained 2.4 percent last week alone.

"You get a nice move like that and you're bound to have a pullback," said Bill Stone, chief investment strategist at PNC Asset Management. Investors sold stocks based on their perceived riskiness, he said, with the stable companies in the Dow losing the least and smaller, riskier companies in the Russell 2000 declining the most.

Not every company had poor results. MetroPCS Communications Inc. rose 10 percent, the most of any company in the S&P 500, after it added a record number of subscribers in the first quarter. The company sells low-cost phone service, primarily in cities.

General Motors rose 2.5 percent after its U.S. car and truck sales jumped 26 percent in April. Higher gas prices motivated consumers to buy more fuel-efficient vehicles.

Bond prices rose slightly. The yield on the 10-year Treasury note dipped to 3.26 from 3.28 percent from late Monday.

Two stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 4.5 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Serious doubts about the health of the job market and the pace of the economic recovery put markets on edge Wednesday.

Stocks fell after payroll processor ADP said companies added 179,000 new jobs in April, far fewer than economists had expected. That raised worries about what the government's monthly jobs report for April will reveal when it's released Friday.

In a separate report, the Institute for Supply Management said its service sector index rose at the slowest pace in 8 months in April, as many companies express concerns about higher food and gas prices.

The U.S. service industry includes nearly everything that isn't manufacturing -- from hospitals and software developers to financial firms and mining companies. It employs about 90 percent of the U.S. work force, so signs of a slowdown in the service sector index have implications for the overall economy

The NYSE DOW NYSE DOW closed LOWER -83.93 points -0.66% on Wednesday May 4
Sym .......Last .......Change..........
Dow 12,723.58 -83.93 -0.66%
Nasdaq 2,828.23 -13.39 -0.47%
S&P 500 1,347.32 -9.30 -0.69%
30-yr Bond 4.3290% -0.0300

NYSE Volume 5,275,492,500 (prior day 5,066,996,500)
Nasdaq Volume 2,250,614,250 (prior day 2,234,103,750)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,984.07 -98.81 -1.62%
DAX 7,373.93 -126.77 -1.69%
CAC 40 4,043.13 -53.71 -1.31%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,813.80 -40.90 -0.84%
Shanghai Comp 2,866.93 -65.26 -2.23%
Taiwan We... 8,947.35 +1.27 +0.01%
Nikkei 225 10,004.20 +154.46 +1.57%
Hang Seng 23,323.91 -309.34 -1.31%
Straits Times 3,113.76 -39.81 -1.26%

http://finance.yahoo.com/news/Stocks-sink-after-weak-data-apf-1896629565.html?x=0

Stocks sink after weak data on jobs

Dow industrial average falls after weak jobs report, signs of slowdown in service industry

Chip Cutter and Matthew Craft, AP Business Writers, On Wednesday May 4, 2011, 4:51 pm EDT

NEW YORK (AP) -- Serious doubts about the health of the job market and the pace of the economic recovery put markets on edge Wednesday.

Stocks fell after payroll processor ADP said companies added 179,000 new jobs in April, far fewer than economists had expected. That raised worries about what the government's monthly jobs report for April will reveal when it's released Friday.

In a separate report, the Institute for Supply Management said its service sector index rose at the slowest pace in 8 months in April, as many companies express concerns about higher food and gas prices.

The U.S. service industry includes nearly everything that isn't manufacturing -- from hospitals and software developers to financial firms and mining companies. It employs about 90 percent of the U.S. work force, so signs of a slowdown in the service sector index have implications for the overall economy.

"I think we're getting indications that (the U.S. economy) is not that healthy," said Kim Caughey Forrest, equity research analyst at Fort Pitt Capital Group.

Even so, the broader markets are up between 6 percent and 10 percent for the year.

Stronger-than-expected earnings reports led to a market rally that started in mid-April. Now that earnings season is coming to an end, job reports are most likely to sway markets over the next two days. The Labor Department will release its weekly look at first-time applications for unemployment benefits Thursday morning, followed by the closely watched monthly labor market report on Friday.

Economists forecast that employers added 185,000 workers in April. The unemployment rate is expected to remain unchanged at 8.8 percent. If the numbers fall short, experts say the broader markets could fall further.

The Dow Jones industrial average fell 83.93 points, or 0.7 percent, to close at 12,723.58 on Wednesday. The average of 30 large companies is still up 10 percent for the year.

The Standard & Poor's 500 index fell 9.30 points, or 0.7 percent, to 1,347.32. It remains up 7 percent for the year.

The Nasdaq composite index fell 13.39, or 0.5 percent, to 2,828.23. It's up 6.6 percent this year.

Signs that the economic recovery is slowing also dragged down commodity prices. Silver fell for the third day straight, losing 7.5 percent to settle at $39.39 an ounce. Crude oil slipped 1.6 percent to $109.24 a barrel.

And falling prices for oil and metals hurt the energy and materials companies whose fortunes depend on them. Mining giant Freeport-McMoRan Copper & Gold Inc. lost 3.9 percent. Occidental Petroleum Corp. lost 2.5 percent.

Strong earnings results from Apple, Intel and other companies have sent all three indexes to 2011 highs over the past two weeks. But some of that excitement is now fading, said Sam Stovall, chief investment strategist at Standard & Poor's.

"In a sense, the market is already in digestion mode," Stovall said. "The earnings have already come out, they were so much better than expected; much of that has already been factored into share prices."

Earnings results were mixed on Wednesday. Kellogg Co. said its net income fell 12 percent as the world's biggest cereal maker dealt with higher costs. The results missed analysts' expectations. Kellogg's stock fell 1.2 percent.

Time Warner, the owner of Warner Bros. and HBO, said its first-quarter earnings fell 10 percent because of a lack of hit movies in the period. Advertising revenue rebounded, but its shares still fell 3.3 percent.

AOL's net income dropped sharply as the Internet company reported lower advertising and subscription revenue. Its stock fell 1.3 percent.

Bond prices rose, sending yields lower. The yield on the 10-year Treasury note dropped to 3.22 percent from 3.26 percent late Tuesday.

More than two shares rose for every one that fell on the New York Stock Exchange. Trading volume was 4.7 billion shares.