NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

Weaker than expected sales reports from retailers and another large number of claims for unemployment benefits left stocks with a mixed finish on Thursday, a day after the Dow Jones industrial average took its biggest dive in nearly a year.

First-time applications for unemployment benefits, an indication of how many people are losing their jobs, fell slightly last week to 422,000. That was more than economists were expecting and well above the 375,000 level that signals that the economy is adding jobs.

"Companies are just not hiring the same number of workers that they laid off two years ago, and that's leading to a very stale jobs environment," said David Loesser, the president of the Estate Planners Group, a financial advisory firm in Washington Crossing, Pa.

The Dow Jones industrial average lost 41.59 points, or 0.3 percent, to close at 12,248.55 Thursday.

The S&P 500 recouped much of its losses from earlier in the day and ended down 1.61 points, or 0.1 percent, to 1,312.94. The Nasdaq composite was up for most of the day and finished with a gain of 4.12, or 0.2 percent, at 2,773.31.

The NYSE DOW NYSE DOW closed LOWER -41.59 points -0.34% on Thursday June 2
Sym .......Last .......Change..........
Dow 12,248.55 -41.59 -0.34%
Nasdaq 2,773.31 +4.12 +0.15%
S&P 500 1,312.94 -1.61 -0.12%
30-yr Bond 4.2510% +0.1000

NYSE Volume 4,313,875,000 (prior 4,696,241,500)
Nasdaq Volume 1,928,090,875 (prior 2,317,049,500)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,847.92 -80.69 -1.36%
DAX 7,074.12 -143.31 -1.99%
CAC 40 3,889.87 -74.94 -1.89%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,683.20 -105.40 -2.20%
Shanghai Comp 2,705.18 -38.39 -1.40%
Taiwan We... 8,991.36 -70.99 -0.78%
Nikkei 225 9,555.04 -164.57 -1.69%
Hang Seng 23,253.84 -372.59 -1.58%
Straits Times 3,160.60 -12.27 -0.39%

http://finance.yahoo.com/news/Stocks-mixed-on-weak-retail-apf-2102917595.html?x=0

Stocks mixed on weak retail and jobless reports

Stocks close mixed on weak retail sales and another high reading on unemployment claims

David K. Randall and Matthew Craft, AP Business Writer, On Thursday June 2, 2011, 4:59 pm EDT

NEW YORK (AP) -- Weaker than expected sales reports from retailers and another large number of claims for unemployment benefits left stocks with a mixed finish on Thursday, a day after the Dow Jones industrial average took its biggest dive in nearly a year.

First-time applications for unemployment benefits, an indication of how many people are losing their jobs, fell slightly last week to 422,000. That was more than economists were expecting and well above the 375,000 level that signals that the economy is adding jobs.

"Companies are just not hiring the same number of workers that they laid off two years ago, and that's leading to a very stale jobs environment," said David Loesser, the president of the Estate Planners Group, a financial advisory firm in Washington Crossing, Pa.

The Dow Jones industrial average lost 41.59 points, or 0.3 percent, to close at 12,248.55 Thursday.

The S&P 500 recouped much of its losses from earlier in the day and ended down 1.61 points, or 0.1 percent, to 1,312.94. The Nasdaq composite was up for most of the day and finished with a gain of 4.12, or 0.2 percent, at 2,773.31.

Worries that the economic recovery was stalling caused a stock market rout on Wednesday. Payroll processor ADP said private employers added just 38,000 jobs in May, down from 177,000 in April. That, along with a sharply lower reading on a key manufacturing index, sent the Dow Jones industrial average down 280 points, the steepest fall since June 4 of last year.

A series of strong corporate profit reports gave the S&P 500 its best first quarter since 1998, but the index has lost 3.7 percent since April 29 as worries over the economy deepened. The index is still up 4.4 percent for the year.

Several retailers reported muted sales growth for May, adding to concerns that the U.S. economy is straining under higher costs for raw materials like oil and cotton. Companies that catered to middle and lower income shoppers said that higher food and gas prices cut into sales. Gap Inc. fell 4.1 percent after sales fell across all its brands. Target Corp. fell 1.3 percent after missing expectations as sales traffic slowed during the second half of the month.

Luxury retailer Saks Inc. was among the few companies in the category that rose. The company gained 1.3 percent after surpassing analyst's expectations.

Financial companies fell, though less than the overall stock market. Goldman Sachs dropped 1.3 percent after the bank received a subpoena from the Manhattan District Attorney's office to discuss its role in the financial crisis. The subpoena follows the April release of a Senate report that showed Goldman had steered investors toward mortgage securities it knew would likely fail.

Many investors are turning their focus to Friday, when the government's monthly employment report will be released. Economists expect that the unemployment rate will dip down to 8.9 percent from the current 9.0 percent.

Slightly more stocks fell than rose on the New York Stock Exchange. Trading volume was 3.9 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Evidence is piling up that the economic recovery has lost some of its vigor. That has deflated a stock market rally and pushed indexes down for five straight weeks, the longest losing streak since mid-2008.

So, what's next? Don't hold out hope for more help from the government, analysts say. Another round of stimulus spending isn't in the cards, the Fed has already slashed interest rates near zero and has said it will end its bond-buying program on schedule at the end of this month.

With high gas prices crimping consumer spending and companies still reluctant to hire, investors may have to settle for a stock market and an economic recovery that plod slowly along.

"The market is clearly getting used to uneven economic data," says Jeff Kleintop, chief market strategist at LPL Financial. "We've moved from a recovery phase to a more modest pace of economic growth."

A weak employment report spurred another stock sell-off Friday, two days after the Dow Jones industrial average had its worst drop in nearly a year. The Dow lost 97.29 points, or 0.8 percent, to close at 12,151.26.

The Standard & Poor's 500 index fell 12.78, or 1 percent, to 1,300.16. The Nasdaq composite fell 40.53, or 1.5 percent, to 2,732.78.

Each index lost 2.3 percent for the week. The last time there was a longer decline in the S&P 500, the market's most widely used benchmark, occurred during the six weeks ending July 11, 2008, before the worst days of the financial crisis.

The NYSE DOW NYSE DOW closed LOWER-97.29 points -0.79% on Friday June 3
Sym .......Last .......Change..........
Dow 12,151.26 -97.29 -0.79%
Nasdaq 2,732.78 -40.53 -1.46%
S&P 500 1,300.16 -12.78 -0.97%
30-yr Bond 4.2310% -0.0200

NYSE Volume 4,070,807,750 (prior 4,313,875,000)
Nasdaq Volume 1,980,615,250 (prior 1,928,090,875)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,855.01 +7.09 +0.12%
DAX 7,109.03 +34.91 +0.49%
CAC 40 3,890.68 +0.81 +0.02%


Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,666.60 -16.60 -0.35%
Shanghai Comp 2,728.23 +23.05 +0.85%
Taiwan We... 9,046.28 +54.92 +0.61%
Nikkei 225 9,492.21 -62.83 -0.66%
Hang Seng 22,949.56 -304.28 -1.31%
Straits Times 3,145.67 -14.93 -0.47%

http://finance.yahoo.com/news/US-st...7.html?x=0&sec=topStories&pos=1&asset=&ccode=

Stocks post fifth straight week of losses

Stocks extend losing streak after government job report shows weak hiring in May

Matthew Craft and Daniel Wagner, AP Business Writers, On Friday June 3, 2011, 5:30 pm EDT

Evidence is piling up that the economic recovery has lost some of its vigor. That has deflated a stock market rally and pushed indexes down for five straight weeks, the longest losing streak since mid-2008.

So, what's next? Don't hold out hope for more help from the government, analysts say. Another round of stimulus spending isn't in the cards, the Fed has already slashed interest rates near zero and has said it will end its bond-buying program on schedule at the end of this month.

With high gas prices crimping consumer spending and companies still reluctant to hire, investors may have to settle for a stock market and an economic recovery that plod slowly along.

"The market is clearly getting used to uneven economic data," says Jeff Kleintop, chief market strategist at LPL Financial. "We've moved from a recovery phase to a more modest pace of economic growth."

A weak employment report spurred another stock sell-off Friday, two days after the Dow Jones industrial average had its worst drop in nearly a year. The Dow lost 97.29 points, or 0.8 percent, to close at 12,151.26.

The Standard & Poor's 500 index fell 12.78, or 1 percent, to 1,300.16. The Nasdaq composite fell 40.53, or 1.5 percent, to 2,732.78.

Each index lost 2.3 percent for the week. The last time there was a longer decline in the S&P 500, the market's most widely used benchmark, occurred during the six weeks ending July 11, 2008, before the worst days of the financial crisis.

Despite the market's recent slump, analysts say there are still plenty of bright spots in the economy including business spending and bank lending. The market could still manage to struggle higher this year, Kleintop says, but the climb from here will likely be a long and slow. Picture a jagged valley of dips and steps, not a straight shot up or down.

Investors will probably have to scale back their expectations for profits, much as economists from JPMorgan Chase, Goldman Sachs and other banks recently lowered their estimates for economic growth. Kleintop expects to see corporations cut their earnings estimates in the coming weeks. The news is sure to push their stocks lower. "There will be more days like (Friday)," Kleintop says.

Stocks had a strong start to the year, hitting their highest levels in nearly three years in late April. But the market has been sputtering since then as troubling signs emerged about the economy. Investors probably overreacted to strong corporate earnings at the start of the year, said Andrew Wilkinson, senior market analyst with Interactive Brokers.

"I think what investors need to do is get accustomed to a more sluggish pace of growth," Wilkinson says.

Employers added only 54,000 new workers in May, the fewest in eight months and well below what analysts were expecting, the Labor Department reported. Private companies hired the fewest new workers in nearly a year. The unemployment rate inched up to 9.1 percent from 9 percent.

Stocks fell sharply after the opening of trading but recovered some ground after a report from the Institute for Supply Management came out at midmorning. The group of purchasing executives said the economy's service sector grew in May for an 18th straight month. The pace of growth picked up slightly from the ISM report April, which was the worst in eight months.

Later in the morning European officials said Greece would receive the next installment of its emergency loan package, lifting some uncertainty about Greece's fiscal crisis. European stocks and the euro rose after the European Union, European Central Bank and the International Monetary Fund gave Greece more breathing room as it tries to service its debts.

The Labor Department's closely-watched monthly jobs report reinforced earlier signals that the U.S. economy is slowing. High gas and food prices have cut into consumer spending and the earthquake and tsunami disaster in Japan have hurt U.S. manufacturers by slowing down supplies of industrial parts.

The Dow plunged 280 points Wednesday, its worst drop in nearly a year, on a weak payrolls report from ADP and the biggest decline in a key manufacturing index since 1984. That combined with other weak readings on the economy prompted analysts to lower their projections for growth in 2011.

"We are clearly seeing a significant slowdown in economic activity, and a lot of that has to do with the effect of higher energy prices and the disruption from Japan," says David Kelly, chief market strategist with J.P. Morgan Funds.

Rising pessimism about the economy's health have some investors hoping the Federal Reserve will drum up another rescue package. The Fed's current $600 billion bond-buying effort has been credited with fuelling months of gains in the stock market since last August. That program, dubbed QE 2, ends this month. So will signs of sagging economic growth spur a QE 3?

Most economists doubt it.

"QE 3 isn't on the table," says Anthony Chan, chief economist at J.P. Morgan's private wealth unit. The economy isn't in as bad shape as it was last summer when the Fed hatched its bond-buying plan, Chan says. At the time, many worried about a double-dip recession, and weak inflation had the Fed fearing a spiral of falling prices known as deflation, a scourge of the Great Depression.

Now, rising gas prices have pinched consumer spending and have been blamed for weaker retail sales. The consumer price index has climbed 3.2 percent over the past year.

Newell Rubbermaid Inc. shares fell 12 percent after the company lowered its outlook for sales and earnings in 2011. Large retailers that sell the company's products are lowering their expectations for economic growth this year.

"Persistent softness in the U.S. economy and increased inflationary pressure have caused us to revise our outlook for the balance of the year," President and CEO Mark Ketchum said in a statement. "Our revised expectations are lower than they were just a short while ago."

More than two stocks fell for every one that rose on the New York Stock Exchange. Trading volume was 3.6 billion shares.

1434

 

[bigdog]

Source: http://finance.yahoo.com

Economic worries weigh on stocks again; Indexes have dropped 5 weeks in a row

Stocks were lower for a fourth straight day with banks and energy companies leading the decline. Worries about a slowing economy also continued to weigh on the broader market Monday.

The Dow Jones industrial average fell 61.30 points, or 0.5 percent, to 12,089.96. The Standard & Poor's 500 index dropped 13.99 points, or 1.1 percent, to 1,286.17. It was the first time the S&P index closed below 1,300 since March 23. The Nasdaq composite fell 30.22, or 1.1 percent, to 2,702.56.

Losses came across the stock market. All 10 industry groups in the S&P index fell. Energy and financial companies each lost 2 percent.

The biggest U.S. banks each declined 2 percent or more, following a speech by a Federal Reserve board member Friday that indicated banks may be required to set aside more cash to cover potential losses. If the proposal were to take effect, banks would be left with less money to lend, which could hurt their earnings. Citigroup Inc. and Bank of America Corp. each lost more than 4 percent, and JP Morgan Chase dropped 2.5 percent.

Airlines stocks dropped after an industry group cut its profit estimates for this year by half. The group blamed disasters in Japan, unrest in the Middle East and higher fuel prices. Delta Air Lines and AMR Corp., the parent company of American Airlines, each lost more than 3 percent.

The NYSE DOW NYSE DOW closed LOWER -61.30 points -0.50% on Monday June 6
Sym .......Last .......Change..........
Dow 12,089.96 -61.30 -0.50%
Nasdaq 2,702.56 -30.22 -1.11%
S&P 500 1,286.17 -13.99 -1.08%
30-yr Bond 4.2620% +0.0310

NYSE Volume 4,082,656,750 (prior 4,070,807,750)
Nasdaq Volume 1,898,800,375 (prior 1,980,615,250)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,863.16 +8.15 +0.14%
DAX 7,084.57 -24.46 -0.34%
CAC 40 3,863.40 -27.28 -0.70%


Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,648.70 -17.90 -0.38%
Shanghai Comp 2,728.23 +23.05 +0.85%
Taiwan We... 9,046.28 +54.92 +0.61%
Nikkei 225 9,380.35 -111.86 -1.18%
Hang Seng 22,949.56 -304.28 -1.31%
Straits Times 3,113.73 -31.94 -1.02%

http://finance.yahoo.com/news/Econo...7.html?x=0&sec=topStories&pos=2&asset=&ccode=

Economic concerns sink stocks for 4th straight day

Economic worries weigh on stocks again; Indexes have dropped 5 weeks in a row

Matthew Craft and David K. Randall, AP Business Writers, On Monday June 6, 2011, 5:31 pm

NEW YORK (AP) -- Stocks were lower for a fourth straight day with banks and energy companies leading the decline. Worries about a slowing economy also continued to weigh on the broader market Monday.

The Dow Jones industrial average fell 61.30 points, or 0.5 percent, to 12,089.96. The Standard & Poor's 500 index dropped 13.99 points, or 1.1 percent, to 1,286.17. It was the first time the S&P index closed below 1,300 since March 23. The Nasdaq composite fell 30.22, or 1.1 percent, to 2,702.56.

Losses came across the stock market. All 10 industry groups in the S&P index fell. Energy and financial companies each lost 2 percent.

The biggest U.S. banks each declined 2 percent or more, following a speech by a Federal Reserve board member Friday that indicated banks may be required to set aside more cash to cover potential losses. If the proposal were to take effect, banks would be left with less money to lend, which could hurt their earnings. Citigroup Inc. and Bank of America Corp. each lost more than 4 percent, and JP Morgan Chase dropped 2.5 percent.

Airlines stocks dropped after an industry group cut its profit estimates for this year by half. The group blamed disasters in Japan, unrest in the Middle East and higher fuel prices. Delta Air Lines and AMR Corp., the parent company of American Airlines, each lost more than 3 percent.

Investors also remained focused on Friday's grim unemployment report. The dismal jobs report sent stocks sharply lower on Friday.

"Wall Street came back, quickly and very strongly, at a time when the populace was still weak in terms of low job growth and low wage growth," said Daniel Penrod, a senior industry analyst at California Credit Union League. "That appeared to be overly optimistic."

The Labor Department reported that employers added only 54,000 new workers in May. The unemployment rate inched up to 9.1 percent from 9 percent.

The report reinforced signs that the U.S. economy is slowing. High gas and food prices have cut into consumer spending. The earthquake and tsunami in Japan have slowed down supplies of industrial parts, hurting U.S. manufacturers. The collection of weak economic data prompted many economists to lower their growth projections for the rest of the year.

Pending regulation and lawsuits also sent some companies down more than the overall market on Monday. Lorillard Inc. dropped 7 percent, the most of any company in the S&P 500 index. Investors are concerned that the Food and Drug Administration could ban menthol cigarettes. The company makes the most popular menthol cigarette on the market, Newport. Oilfield services company Halliburton fell nearly 5 percent after the Supreme Court ruled shareholders can pursue a class-action lawsuit that claimed that company inflated its stock price.

Four stocks fell for every one that rose on the New York Stock Exchange. Consolidated volume came to 3.6 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stock indexes closed lower Tuesday, giving up earlier gains, after Federal Reserve Chairman Ben Bernanke said the economic recovery remains uneven. Bernanke offered no new steps to stimulate growth.

The Dow Jones industrial average had been up as many as 89 points but turned lower in the late afternoon as Bernanke's speech started. The Dow's loss of 19 was the fifth straight decline for the index, the longest string of losses since August.

Bernanke said the U.S. economy had not grown as quickly as had been expected so far this year. He said growth has been held back by disruptions of industrial supplies from Japan following the tsunami and nuclear disaster there and higher gas prices.

Bernanke expects the economy to pick up in the second half of the year, but he acknowledged that the pace of the growth remains "frustratingly slow from the perspective of millions of unemployed and underemployed workers."

Some investors had been hoping Bernanke would announce additional measures to support the economy. Major indexes fell after it became clear that Bernanke was not wavering from his view that the U.S. economy is growing gradually and does not need more stimulus. The Fed's $600 billion bond-buying program, which is aimed at keeping interest rates low, is ending at the end of June.

The NYSE DOW NYSE DOW closed LOWER -19.15 points -0.16% on Tuesday June 7
Sym .......Last .......Change..........
Dow 12,070.81 -19.15 -0.16%
Nasdaq 2,701.56 -1.00 -0.04%
S&P 500 1,284.94 -1.23 -0.10%
30-yr Bond 4.2650% +0.0030

NYSE Volume 3,717,237,750 (prior 4,082,656,750)
Nasdaq Volume 1,868,349,750 (prior 1,898,800,375)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,864.65 +1.49 +0.03%
DAX 7,103.25 +18.68 +0.26%
CAC 40 3,871.92 +8.52 +0.22%


Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,641.10 -7.60 -0.16%
Shanghai Comp 2,745.52 +17.50 +0.64%
Taiwan We... 9,057.10 +10.82 +0.12%
Nikkei 225 9,442.95 +62.60 +0.67%
Hang Seng 22,883.27 -66.29 -0.29%
Straits Times 3,113.22 -0.51 -0.02%

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

Stocks fall again as Bernanke offers no stimulus

Stocks edge lower, extending losses to a 5th day, after Bernanke says recovery is 'uneven'

Francesca Levy and David K. Randall, AP Business Writers, On Tuesday June 7, 2011, 5:10 pm

NEW YORK (AP) -- Stock indexes closed lower Tuesday, giving up earlier gains, after Federal Reserve Chairman Ben Bernanke said the economic recovery remains uneven. Bernanke offered no new steps to stimulate growth.

The Dow Jones industrial average had been up as many as 89 points but turned lower in the late afternoon as Bernanke's speech started. The Dow's loss of 19 was the fifth straight decline for the index, the longest string of losses since August.

Bernanke said the U.S. economy had not grown as quickly as had been expected so far this year. He said growth has been held back by disruptions of industrial supplies from Japan following the tsunami and nuclear disaster there and higher gas prices.

Bernanke expects the economy to pick up in the second half of the year, but he acknowledged that the pace of the growth remains "frustratingly slow from the perspective of millions of unemployed and underemployed workers."

Some investors had been hoping Bernanke would announce additional measures to support the economy. Major indexes fell after it became clear that Bernanke was not wavering from his view that the U.S. economy is growing gradually and does not need more stimulus. The Fed's $600 billion bond-buying program, which is aimed at keeping interest rates low, is ending at the end of June.

"People are getting skittish," said Brian Wenzinger, a portfolio manager at Aronson Johnson Ortiz in Philadelphia. "Housing is getting worse, and they're rethinking a possible double-dip recession." But, Wenzinger added, the relatively small drop in the stock market was a positive sign following several days of steep losses.

The Dow Jones industrial average lost 19.15 points, or 0.2 percent, to close at 12,070.81. The Standard and Poor's 500 dipped 1.23, or 0.1 percent, to 1,284.94. The Nasdaq composite shed 1, or less than 0.1 percent, to 2,701.56.

Stocks have swooned since late April because of concerns that the U.S. economy is stalling from a combination of high gas prices, weaker than expected hiring and a slowdown in manufacturing. The Dow has fallen nearly 500 points over the last five days. The S&P remained below the psychologically important level of 1,300 for the second straight day and closed at its lowest level in two and a half months.

The Labor Department reported that businesses had fewer job openings in April. The government said that employers posted 3 million ads for jobs in April, down from 3.1 million in March. The figure added to the stack of other signs that the U.S. is having an employment crisis. However, the report did little to change the direction of stocks.

In corporate news, a contentious acquisition proposal ratcheted up the stock price of all companies involved. International Paper Co. rose 0.4 percent after smaller rival Temple-Inland fought back against International Paper's hostile takeover bid for $3.3 billion in cash. Temple-Inland soared 40 percent on the news. Weyerhaeuser Co. rose 5 percent, the most of any company in the S&P 500, on suspicion it was another takeover candidate for International Paper.

Cablevision Systems Corp. rose 4.5 percent after the New York-area cable company set a date when it would spin off its cable networks. The company plans to divest popular television networks including AMC, which broadcasts the popular "Mad Men" show on June 16. Investors prefer the sleeker broadcast networks like WE TV, IFC and the Sundance Channel operating on their own to the current unwieldy corporate structure.

Rising shares narrowly outnumbered falling ones on the New York Stock Exchange. Volume was 3.6 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Another lackluster economic report sent stocks down Wednesday, extending a weeklong slide.

The Federal Reserve report, known as the Beige Book, showed the economy slowed in several U.S. regions for the first time this year. While seven of the Fed's 12 districts reported steady gains, the economy stalled in the New York, Philadelphia, Atlanta, and Chicago regions, the Fed said. Dallas was the only region to report accelerated growth. That was largely due to the effect of higher oil prices on the region's energy industry.

The report added to concerns that have been building since mid-April that the American economy is stalling. High oil prices, bad weather and supply-chain problems following the tsunami and nuclear disaster in Japan have combined to dampen many investors' outlook for the rest of the year. And on Tuesday, Fed Chairman Ben Bernanke acknowledged that the U.S. economic recovery was "uneven" and "frustratingly slow," though he added that he expected growth to pick up in the second half of the year.

That has left many investors on edge. "What Bernanke basically said was that we have to believe we're in a soft patch that will pass by itself," said Randall Warren, chief investment officer at Warren Financial Services. "That takes a lot of faith."

The Standard and Poor's 500 lost 5.38, or 0.4 percent, to 1,279.56 on Wednesday. It was its sixth straight loss. The Dow Jones industrial average fell 21.87, or 0.2 percent, to 12,048.94. The Nasdaq composite slipped 26.18, or 1 percent, to 2,675.38.

The NYSE DOW NYSE DOW closed LOWER -21.87 points -0.18% on Wednesday June 8
Sym .......Last .......Change..........
Dow 12,048.94 -21.87 -0.18%
Nasdaq 2,675.38 -26.18 -0.97%
S&P 500 1,279.56 -5.38 -0.42%
30-yr Bond 4.2090% -0.0560


NYSE Volume 4,547,683,000 (prior 3,717,237,750)
Nasdaq Volume 2,105,857,000 (prior 1,868,349,750)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,808.89 -55.76 -0.95%
DAX 7,060.23 -43.02 -0.61%
CAC 40 3,837.98 -33.94 -0.88%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,608.70 -32.40 -0.70%
Shanghai Comp 2,750.29 +5.99 +0.22%
Taiwan We... 9,007.53 -49.57 -0.55%
Nikkei 225 9,449.46 +6.51 +0.07%
Hang Seng 22,661.63 -207.04 -0.91%
Straits Times 3,102.98 -12.97 -0.42%


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

Stocks fall as Fed delivers mixed economic outlook

Stocks maintain losing streak after Fed survey shows mixed economic picture

Francesca Levy and David K. Randall, AP Business Writers, On Wednesday June 8, 2011, 5:26 pm

NEW YORK (AP) -- Another lackluster economic report sent stocks down Wednesday, extending a weeklong slide.

The Federal Reserve report, known as the Beige Book, showed the economy slowed in several U.S. regions for the first time this year. While seven of the Fed's 12 districts reported steady gains, the economy stalled in the New York, Philadelphia, Atlanta, and Chicago regions, the Fed said. Dallas was the only region to report accelerated growth. That was largely due to the effect of higher oil prices on the region's energy industry.

The report added to concerns that have been building since mid-April that the American economy is stalling. High oil prices, bad weather and supply-chain problems following the tsunami and nuclear disaster in Japan have combined to dampen many investors' outlook for the rest of the year. And on Tuesday, Fed Chairman Ben Bernanke acknowledged that the U.S. economic recovery was "uneven" and "frustratingly slow," though he added that he expected growth to pick up in the second half of the year.

That has left many investors on edge. "What Bernanke basically said was that we have to believe we're in a soft patch that will pass by itself," said Randall Warren, chief investment officer at Warren Financial Services. "That takes a lot of faith."

The Standard and Poor's 500 lost 5.38, or 0.4 percent, to 1,279.56 on Wednesday. It was its sixth straight loss. The Dow Jones industrial average fell 21.87, or 0.2 percent, to 12,048.94. The Nasdaq composite slipped 26.18, or 1 percent, to 2,675.38.

Energy companies were among the few stocks to gain broadly. Oil companies like Exxon Mobil Corp, which gained 1 percent, rose after oil settled above $100 a barrel. The jump in oil prices came after OPEC ministers made an unexpected decision to keep output at current levels. Investors had been hoping the cartel would increase output, which could have pushed down the price of crude.

Signs that U.S. supplies were tightening also pushed up oil prices. The American Petroleum Institute said late Tuesday that U.S. crude inventories fell more than expected.

Corporate news reinforced the glum outlook on the economy. Retailer Abercrombie and Fitch Co. fell more than 5 percent after the company said that it expects its second-quarter earnings to come in below first-quarter results. Network equipment maker Ciena Corp. fell 16 percent after reporting a larger loss and lower revenue than analysts had expected. And home builder Hovnanian Enterprises Inc. lost nearly 12 percent after it reported a large second-quarter loss late Tuesday.

The yield on the 10-year Treasury slid to 2.96 percent as investors put money into more stable assets. Yields on bonds fall when their prices rise.

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

 

[bigdog]

Source: http://finance.yahoo.com

A bit of good news was all it took to break a weeklong slump in the stock market.

A report that U.S. exports hit a record in April sent stocks sharply higher Thursday as investors hoped the economic recovery may not be as sluggish as the last week of grim economic reports have suggested.

Trade levels factor into calculations of economic growth. Thursday's number could add half a percentage point or more to the government's estimate of second-quarter gross domestic product, said Anthony Chan, chief economist for JPMorgan Private Wealth.

The Dow Jones industrial average rose 75.42 points, or 0.6 percent, to close at 12,124.36. The Standard & Poor's 500 index rose 9.44, or 0.7 percent, to 1,289.00. The Nasdaq composite rose 9.49, or 0.4 percent, to 2,684.87.

Thursday's gains broke a six-day losing streak and marked the first time stocks rose in June. Stocks had dropped following poor reports on manufacturing, home sales, hiring and consumer confidence.

It was the longest losing streak for the Dow Jones industrial average in over a year and the longest for the Standard & Poor's 500 index since February 2009.

The market's weeklong slump also made stocks appear relatively cheap, Chan said. The S&P 500 lost 6.2 percent over the previous six days of trading.

The NYSE DOW NYSE DOW closed HIGHER -21.87 points -0.18% on Thursday June 9
Sym .......Last .......Change..........
Dow 12,124.36 +75.42 +0.63%
Nasdaq 2,684.87 +9.49 +0.35%
S&P 500 1,289.00 +9.44 +0.74%
30-yr Bond 4.22% +0.0110

NYSE Volume 3,518,046,750 (prior 4,547,683,000)
Nasdaq Volume 1,720,862,750 (prior 2,105,857,000)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,856.34 +47.45 +0.82%
DAX 7,159.66 +99.43 +1.41%
CAC 40 3,878.65 +40.67 +1.06%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,621.70 +13.00 +0.28%
Shanghai Comp 2,703.32 -46.97 -1.71%
Taiwan We... 9,000.94 -6.59 -0.07%
Nikkei 225 9,467.15 +17.69 +0.19%
Hang Seng 22,609.83 -51.80 -0.23%
Straits Times 3,097.57 -5.41 -0.17%

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

US stocks close higher for the first time in June

Stocks rally on narrower trade deficit and bust a weeklong losing streak

Francesca Levy and Matthew Craft, AP Business Writers, On Thursday June 9, 2011, 4:40 pm EDT

NEW YORK (AP) -- A bit of good news was all it took to break a weeklong slump in the stock market.

A report that U.S. exports hit a record in April sent stocks sharply higher Thursday as investors hoped the economic recovery may not be as sluggish as the last week of grim economic reports have suggested.

Trade levels factor into calculations of economic growth. Thursday's number could add half a percentage point or more to the government's estimate of second-quarter gross domestic product, said Anthony Chan, chief economist for JPMorgan Private Wealth.

The Dow Jones industrial average rose 75.42 points, or 0.6 percent, to close at 12,124.36. The Standard & Poor's 500 index rose 9.44, or 0.7 percent, to 1,289.00. The Nasdaq composite rose 9.49, or 0.4 percent, to 2,684.87.

Thursday's gains broke a six-day losing streak and marked the first time stocks rose in June. Stocks had dropped following poor reports on manufacturing, home sales, hiring and consumer confidence.

It was the longest losing streak for the Dow Jones industrial average in over a year and the longest for the Standard & Poor's 500 index since February 2009.

The market's weeklong slump also made stocks appear relatively cheap, Chan said. The S&P 500 lost 6.2 percent over the previous six days of trading.

"Markets usually swing like a pendulum," Chan said. "This decline has been strong enough that you can easily justify the market taking a breath."

The narrower trade deficit is a sign that goods from U.S. manufacturers are becoming more competitive in overseas markets. U.S. companies sold more computers, heavy machinery and telecommunications equipment abroad in April compared with the month before. Imports declined because fewer cars were bought from Japan after factories there were damaged by that country's earthquake and tsunami disaster.

Companies that make farming machinery rose after the government reported that U.S. corn crops would be smaller this fall. That sent corn prices soaring and raised expectations that farm owners would be buying more agricultural equipment such as tractors. Both Deere & Co. and AGCO Corp rose 2.5 percent.

A report on claims for unemployment benefits was in line with expectations that new applications would stay roughly the same. The Labor Department reported that new claims edged up 1,000 to 427,000. Economists had expected a slight drop. The high level of claims still suggests that the job market is slow.

Advertising company Interpublic Group of Cos. jumped 6.4 percent, the most of any company in the S&P 500 index, after ratings agency Moody's raised its rating on the company.

A jump in oil prices sent energy stocks higher. Energy companies in the S&P 500 index rose 1.2 percent. Crude rose $1.19 to settle at $101.93.

Stocks have been slipping since mid-April as investors become concerned that the U.S. economy has hit a soft patch. Rising oil prices, Japan's tsunami and nuclear disaster and the risk that Greece might default on its debt have led investors to lower their forecasts for U.S. growth this year.

Nearly two stocks rose for every one that fell on the New York Stock Exchange. Consolidated trading volume was 3.5 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Fears that the global economic recovery has stalled pushed the Dow Jones industrial average below 12,000 for the first time since March and drove the stock market lower for the sixth straight week.

Friday's drop extended the longest weekly losing streak for stocks since the fall of 2002.

Weak economic news has dampened hopes for a steady recovery, sending stocks down. Traders worry that weaker hiring, sluggish industrial output, and a moribund housing market are reversing a bull market that has lifted the Dow 20 percent over the past year.

If the indexes continue their slide for another week, it would be the first time in 10 years that the market suffered a seven-week stretch of losses. The last such stretch began in May 2001 as the dot-com bubble deflated.

The Dow fell 172.45 points, or 1.4 percent, to close Friday at 11,951.91. The S&P 500 index fell 18.02, or 1.4 percent, to 1,270.98. The Nasdaq dropped 41.14, or 1.5 percent, to 2,643.73.

The Nasdaq is now down slightly for the year, as is the Russell 2000 index of small company stocks. The Dow is still up 3.2 percent for 2011 and the S&P 1.1 percent.

Some investors said the recent pullback may not last.

The NYSE DOW NYSE DOW closed LOWER -172.45 points -1.42% on Friday June 10
Sym .......Last .......Change..........
Dow 11,951.91 -172.45 -1.42%
Nasdaq 2,643.73 -41.14 -1.53%
S&P 500 1,270.98 -18.02 -1.40%
30-yr Bond 4.18% -0.04

NYSE Volume 4,444,964,500 (prior 3,518,046,750)
Nasdaq Volume 1,988,527,875 (prior 1,720,862,750)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,765.80 -90.54 -1.55%
DAX 7,069.90 -89.76 -1.25%
CAC 40 3,805.09 -73.56 -1.90%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,634.90 +13.20 +0.29%
Shanghai Comp 2,706.18 +2.83 +0.10%
Taiwan We... 8,837.82 -163.12 -1.81%
Nikkei 225 9,514.44 +47.29 +0.50%
Hang Seng 22,420.37 -189.46 -0.84%
Straits Times 3,078.35 -19.22 -0.62%

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

Dow falls below 12K; stocks drop 6 weeks straight

Dow falls below 12K, Nasdaq erases year's gains; longest weekly losing streak seen since '02

Daniel Wagner and Matthew Craft, AP Business Writers, On Friday June 10, 2011, 5:28 pm EDT

Fears that the global economic recovery has stalled pushed the Dow Jones industrial average below 12,000 for the first time since March and drove the stock market lower for the sixth straight week.

Friday's drop extended the longest weekly losing streak for stocks since the fall of 2002.

Weak economic news has dampened hopes for a steady recovery, sending stocks down. Traders worry that weaker hiring, sluggish industrial output, and a moribund housing market are reversing a bull market that has lifted the Dow 20 percent over the past year.

If the indexes continue their slide for another week, it would be the first time in 10 years that the market suffered a seven-week stretch of losses. The last such stretch began in May 2001 as the dot-com bubble deflated.

The Dow fell 172.45 points, or 1.4 percent, to close Friday at 11,951.91. The S&P 500 index fell 18.02, or 1.4 percent, to 1,270.98. The Nasdaq dropped 41.14, or 1.5 percent, to 2,643.73.

The Nasdaq is now down slightly for the year, as is the Russell 2000 index of small company stocks. The Dow is still up 3.2 percent for 2011 and the S&P 1.1 percent.

Some investors said the recent pullback may not last.

Jack Ablin, chief investment officer at Harris Private Bank, said strong corporate earnings and widespread economic growth, however slow, should lead to more gains in the coming months. "Anyone selling shares today has to be pricing in a recession," he said. Most economists expect slow growth but not a recession.

Shares had bounced back Thursday, breaking six straight days of losses, after U.S. exports unexpectedly hit a record in April. By Friday morning, those gains had evaporated. The losses were widespread, with declines across all 10 of the S&P 500's industry groups.

Ablin suggested that Friday's losses were partially driven by the Federal Reserve's unloading of millions in risky mortgage bonds onto the market. As big banks buy those securities, they dump assets such as stocks and high-yield corporate bonds.

Karyn Cavanaugh, vice president and market strategist with ING Investment Management, advised investors to stick out the market's recent turbulence.

"The market doesn't go up indefinitely; it's not a straight line and it does get choppy at times," she said. Cavanaugh said seven straight quarters of stronger-than-expected corporate earnings are a clear signal that the bull market will continue.

Aside from a promising report on higher exports Thursday, investors had little reason to cheer this week. Citigroup Inc., Bank of America Corp. and other big banks led stocks lower Monday amid expectations that banks would have to set aside more cash to cover potential losses.

Federal Reserve Chairman Ben Bernanke gave a speech Tuesday in which he said the economy's greatest troubles -- high oil prices and supply chain disruptions from Japan -- would soon pass. Bernanke offered no hint of further help from the Fed and the stock market dropped as he spoke. The next day, stocks slipped again after a Federal Reserve report showed the economy slowed in New York, Chicago and other major metropolitan areas.

Asian markets were mixed Friday. A smaller than anticipated Chinese trade surplus in May and a bigger than expected decline in British industrial production in April led to fears that growth is also slowing overseas, not just in the U.S. Economists say Beijing's efforts to temper rapid growth by curbing lending and investing could cool its economy too quickly. Weakness in China could hurt the global commodities trade if it cuts into demand for oil, iron ore and other industrial inputs for which China is a key customer.

The euro fell below its recent highs on signs that European policymakers have reached an impasse over how to handle Greece's drawn-out debt crisis.

The yield on the benchmark 10-year Treasury note fell as investors put money into low-risk investments. The yield fell to 2.97 percent Friday afternoon, after trading above 3 percent Thursday as the stock market rallied. Bond yields fall and their prices rise when demand for them increases.

In corporate news, shares of solar chip maker MEMC Electronic Materials Inc. fell 3.5 percent after an analyst downgraded the stock, saying prices for solar wafers are falling rapidly because of overproduction in China.

Goodyear Tire fell 6.6 percent, the most in the S&P 500, after the company agreed to sell its Asian wire business to South Korea's Hyosung Corp. for $50 million. Analysts with J.P. Morgan Chase & Co. said they expect "significantly weaker" demand for replacement tires.

Four stocks fell for every one that rose on the New York Stock Exchange. Consolidated trading volume was 3.9 billion shares.

1833

 

[explod]

Looking at your last chart of the DOW there bigdog we can see that a close on the weekly about 200 points below the current level will break the uptrend which commenced from the low created in early 2010.

The commentry (mostly press) of course remains largely bullish. However, I think they could be wrong and the next couple of weeks will tell.

 

[bigdog]

Source: http://finance.yahoo.com

A round of corporate deals helped the broad stock market eke out only its second day of gains this month.

Wendy's/Arby's Group Inc. rose nearly 1 percent after the company said it would sell control of its Arby's restaurant business to a private equity firm that owns several other quick-service franchises, including Moe's Southwest Grill and Auntie Anne's. And clothing maker VF Corp., whose brands include Wrangler and The North Face, jumped 10 percent after agreeing to buy the boot maker Timberland for more than $2.2 billion.

When big companies use their cash to make an acquisition, it signals a belief that there are values in the market, said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

"That's a good sign of confidence when we desperately need some," Detrick said.

The Dow Jones industrial average gained 1.06 points, or less than 0.1 percent, to close at 11,952.97. The Standard and Poor's 500 inched up 0.85 point, less than 0.1 percent, to 1,271.83. The Nasdaq composite lost 4.04, or 0.2 percent, to 2,639.69

All three indexes are down more than 4 percent over the last month because of concerns that the U.S. economy is stalling. Stocks have fallen since late April following dismal reports on the housing market, manufacturing and jobs. On Friday, the Dow fell below 12,000 for the first time since March. The Dow and S&P index last gained on Thursday, following news that U.S. exports hit a record in April.

The NYSE DOW NYSE DOW closed HIGHER +1.06 points +0.01% on Monday June 13
Sym .......Last .......Change..........
Dow 11,952.97 +1.06 +0.01%
Nasdaq 2,639.69 -4.04 -0.15%
S&P 500 1,271.83 +0.85 +0.07%
30-yr Bond 4.2050% +0.0021

NYSE Volume 4,136,964,250 (prior 4,444,964,500)
Nasdaq Volume 1,861,909,375 (prior 1,988,527,875)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,773.46 -82.88 -1.42%
DAX 7,085.14 +15.24 +0.22%
CAC 40 3,807.61 +2.52 +0.07%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,634.90 closed for holiday
Shanghai Comp 2,700.70 -4.45 -0.16%
Taiwan We... 8,712.95 -124.87 -1.41%
Nikkei 225 9,448.21 -66.23 -0.70%
Hang Seng 22,508.08 +87.71 +0.39%
Straits Times 3,059.04 -19.31 -0.63%

http://finance.yahoo.com/news/Corpo...ontent/main/3399131717//date/desc/11/s6657283

Corporate buyout deals nudge indexes higher

Dow, S&P 500 post slight gains as Arby's, Timberland deals encourage investors

Chip Cutter and David K. Randall, AP Business Writers, On Monday June 13, 2011, 5:21 pm EDT

NEW YORK (AP) -- A round of corporate deals helped the broad stock market eke out only its second day of gains this month.

Wendy's/Arby's Group Inc. rose nearly 1 percent after the company said it would sell control of its Arby's restaurant business to a private equity firm that owns several other quick-service franchises, including Moe's Southwest Grill and Auntie Anne's. And clothing maker VF Corp., whose brands include Wrangler and The North Face, jumped 10 percent after agreeing to buy the boot maker Timberland for more than $2.2 billion.

When big companies use their cash to make an acquisition, it signals a belief that there are values in the market, said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

"That's a good sign of confidence when we desperately need some," Detrick said.

The Dow Jones industrial average gained 1.06 points, or less than 0.1 percent, to close at 11,952.97. The Standard and Poor's 500 inched up 0.85 point, less than 0.1 percent, to 1,271.83. The Nasdaq composite lost 4.04, or 0.2 percent, to 2,639.69

All three indexes are down more than 4 percent over the last month because of concerns that the U.S. economy is stalling. Stocks have fallen since late April following dismal reports on the housing market, manufacturing and jobs. On Friday, the Dow fell below 12,000 for the first time since March. The Dow and S&P index last gained on Thursday, following news that U.S. exports hit a record in April.

Energy companies in the S&P index lost 1.4 percent, the biggest move among the 10 industry groups that make up the index, after crude oil dipped to $97.30 a barrel.

Worries about the U.S. economy and concerns that Europe may fall into another fiscal crisis continue to impact bonds. Bond yields remained below 3 percent as investors continued to place a high value on safer assets. Standard & Poor's cut Greece's credit rating to CCC on Monday, two notches above default. S&P also said that it doubts the country will be able to sell bonds to finance its budgets in 2012.

Among U.S. corporations, Forest Laboratories Inc. rose nearly 2 percent after the drugmaker said a fund affiliated with billionaire investor Carl Icahn plans to nominate four directors to the company's board. And electronics retailer Best Buy Co., grocer Kroger Co. and BlackBerry maker Research in Motion Ltd. will release earnings later in the week.

Falling shares slightly outnumbered rising ones on the New York Stock Exchange. Consolidated volume came to 3.7 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

A better than expected retail sales report reversed a two-week slump in the stock market Tuesday, sending indexes higher for only the third day this month.

The Dow Jones industrial average jumped back above 12,000 and all three indexes had their best day so far in June.

The government said retail sales edged down 0.2 percent last month. Analysts had expected worse. Excluding weak car sales, retail sales rose 0.3 percent. Americans bought fewer cars during the month, but that was more a reflection of temporary supply chain disruptions caused by the earthquake and tsunami disaster in Japan.

"The good news is the consumer is hanging in there," said Rob Lutts, president and chief investment officer of Cabot Money Management.

The stronger report on retail sales sent the stocks of department stores and other retailers higher. Nordstrom Inc. and Home Depot Inc. rose 4 percent. J.C. Penney Co. jumped 17 percent after the department store chain named Ron Johnson, the man who pioneered Apple Inc.'s retail stores, as its next CEO. J.C. Penny's stock rose the most of any company in the S&P 500.

The NYSE DOW NYSE DOW closed HIGHER +123.14 +1.03% on Tuesday June 14
Sym .......Last .......Change..........
Dow 12,076.11 +123.14 +1.03%
Nasdaq 2,678.72 +39.03 +1.48%
S&P 500 1,287.87 +16.04 +1.26%
30-yr Bond 4.3010% +0.0096

NYSE Volume 3,725,403,500 (prior 4,136,964,250)
Nasdaq Volume 1,746,771,000 (prior 1,861,909,375)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,803.13 +29.67 +0.51%
DAX 7,204.79 +119.65 +1.69%
CAC 40 3,864.58 +56.97 +1.50%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,651.10 +16.20 +0.35%
Shanghai Comp 2,730.05 +29.67 +1.10%
Taiwan We... 8,829.21 +116.26 +1.33%
Nikkei 225 9,547.79 +99.58 +1.05%
Hang Seng 22,496.00 -12.08 -0.05%
Straits Times 3,058.47 -0.57 -0.02%

http://finance.yahoo.com/news/Stocks-shake-off-2week-slump-apf-778692079.html?x=0

Stocks shake off 2-week slump on retail sales news

Stock market has its best day in June on steady retail sales; the Dow is back above 12,000

Chip Cutter and Matthew Craft, AP Business Writers, On Tuesday June 14, 2011, 4:51 pm EDT

NEW YORK (AP) -- A better than expected retail sales report reversed a two-week slump in the stock market Tuesday, sending indexes higher for only the third day this month.

The Dow Jones industrial average jumped back above 12,000 and all three indexes had their best day so far in June.

The government said retail sales edged down 0.2 percent last month. Analysts had expected worse. Excluding weak car sales, retail sales rose 0.3 percent. Americans bought fewer cars during the month, but that was more a reflection of temporary supply chain disruptions caused by the earthquake and tsunami disaster in Japan.

"The good news is the consumer is hanging in there," said Rob Lutts, president and chief investment officer of Cabot Money Management.

The stronger report on retail sales sent the stocks of department stores and other retailers higher. Nordstrom Inc. and Home Depot Inc. rose 4 percent. J.C. Penney Co. jumped 17 percent after the department store chain named Ron Johnson, the man who pioneered Apple Inc.'s retail stores, as its next CEO. J.C. Penny's stock rose the most of any company in the S&P 500.

The Dow Jones industrial average rose 123.14 points, or 1 percent, to close at 12,076.11.

The Standard & Poor's 500 index rose 16.04, or 1.3 percent, to 1,287.87. The Nasdaq composite index rose 39.03, or 1.5 percent, to 2,678.72.

Five stocks rose for every one that fell on the New York Stock Exchange.

The government also reported that wholesale prices rose in May by the smallest amount in 10 months. That helped to allay concerns among investors that rising food and energy costs would slow the economic recovery.

Stocks have tanked over the past two weeks on concerns that the economy is losing strength. The manufacturing industry is slowing, home sales are weak and the job market remains sluggish. Investors are also nervous because the Federal Reserve's $600 billion bond-buying program is winding down at the end of June. The program was aimed at keeping interest rates low to encourage borrowing.

The Dow and S&P 500 have lost 4 percent so far this month. The Nasdaq composite has lost 5 percent.

In corporate news, Best Buy Co. Inc. rose 5 percent after the company reported first-quarter results that beat analysts' forecasts. The company reaffirmed its full-year earnings forecast and said revenue would come in at the high end of the $51 billion to $52.5 billion range it has been expecting.

Energy stocks rose 2 percent, the most of the 10 company groups that make up the S&P 500, after oil climbed back above $99 a barrel. Energy stocks have fallen 9 percent since the S&P 500 peaked in late April, making them appear relatively cheap compared to other industries that hadn't fallen as much.

Consolidated trading volume on the New York Stock Exchange was 3.7 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Unrest in Greece rattled global financial markets Wednesday. Stocks fell the most since June 1 as investors piled into lower-risk assets like the dollar and U.S. government bonds.

A report on manufacturing in the New York area also came in far below forecasts. That reignited fears that factory production, one of the few bright spots in the U.S. economy, may be weaker than many economists had believed.

Thousands of people gathered on the streets of Athens to protest government cutbacks required by international lenders. Demonstrators hurled rocks at riot police, who responded with tear gas. Greece's prime minister said he would name a new Cabinet after talks to form a new government with opposition parties failed.

The Dow Jones industrial average fell 178.84 points, or 1.5 percent, to close at 11,897.27. The drop erased all of its 123-point gain from Tuesday and put the average on track for a seventh straight week of losses. All 30 companies in the Dow dropped, led by Aluminum maker Alcoa Inc. which lost 2.9 percent. Alcoa's stock tends to swing with shifting moods about the global economy.

Shares in energy companies also fell. Chevron Corp. and Exxon Mobil Corp both lost more than 2 percent.

The S&P 500 index fell 22.45, or 1.7 percent, to 1,265.42. The Nasdaq fell 47.26, or 1.8 percent, to 2,631.46.

The NYSE DOW NYSE DOW closed LOWER -178.84 -1.48% on Wednesday June 15
Sym .......Last .......Change..........
Dow 11,897.27 -178.84 -1.48%
Nasdaq 2,631.46 -47.26 -1.76%
S&P 500 1,265.42 -22.45 -1.74%
30-yr Bond 4.1990% -0.0102

NYSE Volume 4,746,029,500 (prior 3,725,403,500)
Nasdaq Volume 2,004,668,750 (prior 1,746,771,000)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,742.55 -60.58 -1.04%
DAX 7,115.08 -89.71 -1.25%
CAC 40 3,806.85 -57.73 -1.49%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,635.40 -15.70 -0.34%
Shanghai Comp 2,705.43 -24.61 -0.90%
Taiwan We... 8,831.45 +2.24 +0.03%
Nikkei 225 9,574.32 +26.53 +0.28%
Hang Seng 22,343.77 -152.23 -0.68%
Straits Times 3,056.88 -0.51 -0.02%

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

Worsening Greek debt crisis sinks stocks, euro

Stocks slide as protesters in Greece rally against budget cutbacks; euro falls 2 percent

Chip Cutter and Matthew Craft, AP Business Writers, On Wednesday June 15, 2011, 5:37 pm EDT

NEW YORK (AP) -- Unrest in Greece rattled global financial markets Wednesday. Stocks fell the most since June 1 as investors piled into lower-risk assets like the dollar and U.S. government bonds.

A report on manufacturing in the New York area also came in far below forecasts. That reignited fears that factory production, one of the few bright spots in the U.S. economy, may be weaker than many economists had believed.

Thousands of people gathered on the streets of Athens to protest government cutbacks required by international lenders. Demonstrators hurled rocks at riot police, who responded with tear gas. Greece's prime minister said he would name a new Cabinet after talks to form a new government with opposition parties failed.

The Dow Jones industrial average fell 178.84 points, or 1.5 percent, to close at 11,897.27. The drop erased all of its 123-point gain from Tuesday and put the average on track for a seventh straight week of losses. All 30 companies in the Dow dropped, led by Aluminum maker Alcoa Inc. which lost 2.9 percent. Alcoa's stock tends to swing with shifting moods about the global economy.

Shares in energy companies also fell. Chevron Corp. and Exxon Mobil Corp both lost more than 2 percent.

The S&P 500 index fell 22.45, or 1.7 percent, to 1,265.42. The Nasdaq fell 47.26, or 1.8 percent, to 2,631.46.

If Greece defaults on its debt it could cause investors to dump the bonds of other weak European nations like Portugal, Spain and Ireland, raising borrowing costs for those countries. It could also cause the dollar to further strengthen against the euro, making U.S. products more expensive abroad. That acts as a drag on corporate profits. Earlier in the year a declining dollar played a key role in boosting corporate earnings and sending stocks higher.

Large U.S. companies like Boeing Co., Caterpillar Inc. and Oracle Corp. sell many of their products abroad, which puts their sales and profits at risk if the dollar strengthens. Companies in the S&P 500 index get 20 percent of their profits from Europe.

June is shaping up to be the worst month for the stock market since May 2010. Stocks have risen only three days this month and have fallen 11. The Dow Jones industrial average and the Standard & Poor's 500 index are now 7 percent below the highs they reached in late April.

"It's sell and ask questions later," said Steven Goldman, chief market strategist at Weeden & Co. in Greenwich, Conn.

The euro slid 2 percent against the dollar as the worsening Greek debt crisis undermined confidence in Europe's shared currency.

U.S. government bond prices climbed as investors sought safer assets. The yield on the 10-year Treasury note, which moves opposite its price, fell to 2.97 percent from 3.10 percent late Tuesday.

In the latest sign of how Greece's problems could affect other countries, credit ratings agency Moody's said it may downgrade its ratings of France's three largest banks because of their exposure to Greek debt.

Greece's fiscal problems had appeared to be solved a year ago with a package of emergency loans, but it became clear this spring that the country would need more help from its European neighbors to avoid a default. On Monday, Standard & Poor's slashed Greece's creditworthiness to the bottom of the 131 countries that have ratings.

The June Empire State Manufacturing Survey came in well below forecasts. The survey from the New York Federal Reserve found that conditions for New York manufacturers are weakening and orders are falling. A measure of optimism among factory owners in the state fell to its lowest level since early 2009.

Analysts said investors should expect stock trading to be volatile as uncertainty about the economy persists. The housing market remains weak and the jobs market is sluggish. Questions loom about whether lawmakers will support raising the nation's borrowing limit by an Aug. 2 deadline. The Federal Reserve's $600 billion bond-buying program is also winding down at the end of June. The program was designed to keep interest rates low to encourage borrowing.

"The markets are nervous, investors are nervous, and so we expect volatility," said Oliver Pursche, president of Gary Goldberg Financial Services.

Pandora Media Inc. jumped 9 percent to $17.42 on its first day of trading. The Internet radio company priced its initial public offering at $16 a share, the high end of its range, reflecting hot demand for online companies.

Owens-Illinois Inc. fell 13 percent after the glass container company said higher manufacturing and delivery costs led it to cut its second-quarter earnings outlook.

Five shares fell for every one that rose on the New York Stock Exchange. Despite the sell-off, consolidated trading was only slightly heavier than usual at 4.2 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Better-than-expected reports on home building and jobs pushed two of the three major stock indexes higher Thursday. The broader market ended mixed.

The pace of new home construction quickened last month and the number of people who applied for unemployment benefits fell last week to 414,000, more of an improvement than economists expected. Weekly applications for unemployment have been over 400,000 since April, a rate that suggests job growth is still slow.

Worries that Greece's debt troubles could spread continued to weigh on financial markets. The dollar and U.S government bonds rose as traders moved money into safer investments.

The Dow Jones industrial average gained 64.25 points, or 0.5 percent, to close at 11,961.52. The Dow is now slightly higher for the week.

The S&P 500 rose 2.22, or 0.2 percent, to 1,267.64. The Nasdaq composite lost 7.76, or 0.3 percent, to 2,623.70. The two are less than 1 percent lower this week.

The NYSE DOW NYSE DOW closed HIGHER +64.25 points +0.54% on Thursday June 16
Sym .......Last .......Change..........
Dow 11,961.52 +64.25 +0.54%
Nasdaq 2,623.70 -7.76 -0.29%
S&P 500 1,267.64 +2.22 +0.18%
30-yr Bond 4.1570% -0.0042

NYSE Volume 4,656,694,500 (prior 4,746,029,500)
Nasdaq Volume 1,985,734,500 (prior 2,004,668,750)


Europe
Symbol... ......Last .....Change.......
FTSE 100 5,698.81 -43.74 -0.76%
DAX 7,110.20 -4.88 -0.07%
CAC 40 3,792.31 -14.54 -0.38%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,546.70 -88.70 -1.91%
Shanghai Comp 2,664.42 +0.14 +0.01%
Taiwan We... 8,654.43 -177.02 -2.00%
Nikkei 225 9,411.28 -163.04 -1.70%
Hang Seng 21,953.11 -390.66 -1.75%
Straits Times 3,021.13 -33.69 -1.10

http://finance.yahoo.com/news/Stocks-set-for-flat-opening-apf-1950119799.html?x=0

Home building, jobs reports push Dow higher

Unemployment, home building reports improve; US government bond yields hit '11 low on Greece

David K. Randall and Matthew Craft, AP Business Writers, On Thursday June 16, 2011, 4:50 pm EDT

NEW YORK (AP) -- Better-than-expected reports on home building and jobs pushed two of the three major stock indexes higher Thursday. The broader market ended mixed.

The pace of new home construction quickened last month and the number of people who applied for unemployment benefits fell last week to 414,000, more of an improvement than economists expected. Weekly applications for unemployment have been over 400,000 since April, a rate that suggests job growth is still slow.

Worries that Greece's debt troubles could spread continued to weigh on financial markets. The dollar and U.S government bonds rose as traders moved money into safer investments.

The Dow Jones industrial average gained 64.25 points, or 0.5 percent, to close at 11,961.52. The Dow is now slightly higher for the week.

The S&P 500 rose 2.22, or 0.2 percent, to 1,267.64. The Nasdaq composite lost 7.76, or 0.3 percent, to 2,623.70. The two are less than 1 percent lower this week.

The yield on the 10-year Treasury note fell to 2.92 percent, the lowest since November, from 2.97 percent late Wednesday. Bond yields fall when prices rise.

Home Depot Inc. rose 1.8 percent following the better than expected report on home construction and an upgrade by analysts.

Kroger Co. rose 4.5 percent after the supermarket chain's earnings rose as shoppers paid more for groceries and gas. Winnebago Industries Inc. tumbled 20 percent after the motor home company said profits sank nearly 80 percent in its last quarter.

Not all the economic news was positive. A survey by the Federal Reserve Bank of Philadelphia found that manufacturing slowed in that region, one day after a similar report found that manufacturing was slowing in the New York area. A series of weaker economic indicators over the past two months have led some analysts to trim their expectations for the year.

Investors are now starting to expect negative economic news, said Uri Landesdman, president of Platinum Partners, an investment manager in New York. That dulls the impact of each downward sign, he said.

"There's still a feeling out there that even though economic data has been incrementally terrible, businesses are still cooking," Landesman said. He also cautioned that the market could continue to slide until the next batch of corporate earnings reports, which start to come out in mid-July.

Overseas markets dipped for a second day because of fears that Greece will be forced to default on its bonds, an event that could trigger another financial crisis. The Euro Stoxx 50, an index of blue chip companies in countries that use the euro, fell 0.5 percent. Benchmark indexes in Japan and China each closed with losses of more than 1.5 percent.

U.S. stocks have fallen for six straight weeks because of rising concerns that the economy isn't as strong as previously thought. If the S&P 500 closes down this week, it would mark the longest losing streak since the index dropped for eight straight weeks in early 2001 as the dot-com bubble was imploding.

High gas prices and a recession in Japan following its earthquake and nuclear disaster have combined to slow business and consumer spending. The S&P index is down nearly 7 percent since hitting its high for the year on April 29.

Falling stocks outpaced rising ones by a small margin on the New York Stock Exchange. Consolidated trading volume was 4.1 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Signs that a solution to Greece's debt problems could be near helped the stock market eke out its first week of gains since April.

Germany softened its conditions for giving Greece more loans on Friday, putting Greece closer to getting more financial support and avoiding a default. Global financial markets were rattled earlier this week when a default by Greece seemed imminent.

Traders worry that a default by Greece could trigger another financial crisis, weakening the euro and leading to widespread losses for banks and governments that hold Greek bonds. A default would also push up the value of lower-risk assets like the dollar and U.S. government bonds.

The Dow Jones industrial average closed up 42.84, or 0.4 percent, at 12,004.36. The Standard & Poor's 500 index rose 3.86, or 0.3 percent, to 1,271.50.

The gains weren't widespread. The technology-focused Nasdaq composite index lost 7.22, or 0.3 percent, to 2,616.48 after signs that large companies are faltering.

The NYSE DOW NYSE DOW closed HIGHER +42.84 points +0.36% on Friday June 17
Sym .......Last .......Change..........
Dow 12,004.36 +42.84 +0.36%
Nasdaq 2,616.48 -7.22 -0.28%
S&P 500 1,271.50 +3.86 +0.30%
30-yr Bond 4.2030% +0.0046

NYSE Volume 4,925,850,000 (prior 4,656,694,500)
Nasdaq Volume 2,491,541,250 (prior 1,985,734,500)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,714.94 +16.13 +0.28%
DAX 7,164.05 +53.85 +0.76%
CAC 40 3,823.74 +31.43 +0.83%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,551.10 +4.40 +0.10%
Shanghai Comp 2,643.65 -20.64 -0.77%
Taiwan We... 8,636.10 -18.33 -0.21%
Nikkei 225 9,351.40 -59.88 -0.64%
Hang Seng 21,695.26 -257.85 -1.17%
Straits Times 3,005.28 -14.85 -0.49%

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

Stocks have their first winning week since April

Stocks post first weekly gains since April on signs that Greece will get more loans

Daniel Wagner and David K. Randall, AP Business Writers, On Friday June 17, 2011, 5:14 pm EDT

Signs that a solution to Greece's debt problems could be near helped the stock market eke out its first week of gains since April.

Germany softened its conditions for giving Greece more loans on Friday, putting Greece closer to getting more financial support and avoiding a default. Global financial markets were rattled earlier this week when a default by Greece seemed imminent.

Traders worry that a default by Greece could trigger another financial crisis, weakening the euro and leading to widespread losses for banks and governments that hold Greek bonds. A default would also push up the value of lower-risk assets like the dollar and U.S. government bonds.

The Dow Jones industrial average closed up 42.84, or 0.4 percent, at 12,004.36. The Standard & Poor's 500 index rose 3.86, or 0.3 percent, to 1,271.50.

The gains weren't widespread. The technology-focused Nasdaq composite index lost 7.22, or 0.3 percent, to 2,616.48 after signs that large companies are faltering.

BlackBerry maker Research In Motion Ltd. plummeted 21 percent after giving a surprisingly weak forecast for the current quarter and the remainder of the year. The company is struggling to compete with Apple Inc.'s iPhone and Android phones. Other technology companies like Intel Corp. and Cisco Systems Inc. fell 0.3 percent, the biggest drop among the 10 industries that make up the S&P index.

Among other U.S. companies, credit research firm Moody's Corp. dropped 5 percent after analysts downgraded the company. McGraw-Hill Cos., which owns rival rating agency Standard & Poor's, fell nearly 4 percent. And BJ's Wholesale Club Inc. dipped nearly 1 percent after two private equity firms made a bid for the warehouse club chain.

Germany's softer stance toward assisting Greece pulled the price of lower-risk investments like government bonds lower. The yield on the benchmark 10-year Treasury note rose to 2.94 percent early Friday from 2.90 percent Thursday. Bond yields rise when prices fall.

The S&P 500 finished the week just 0.04 percent higher than where it started. That tiny gain was enough to break a six-week losing streak that went back to the last week in April. The S&P 500 index hits its high for the year on April 29, and has fallen nearly 7 percent since then.

Nearly two stocks rose for every one that fell on the New York Stock Exchange Friday. Consolidated volume came to 4.4 billion shares.

I have installed Internet Explorer 9 which has a few issues
-- I needed to use Compatibility View settings

2456

 

[davede]

Could you please tell the ASX to follow the US today!

Getting awfully sick of overcautious oz investors (or capital flight - whichever you'd prefer).

 

[bigdog]

Source: http://finance.yahoo.com

Investors largely put aside their concerns about the Greek financial crisis Monday and focused instead on value. Stocks rose broadly after the market shook off its longest weekly losing streak in nearly a decade.

The downturn brought the S&P 500 close to its average level over the prior 200 days. So long as the index doesn't sink far below that level, many technical traders see it as a sign to start buying stocks again. The S&P is now 6 percent below the 2011 high it reached on April 29.

"In the short term, stocks have been oversold, and you're going to get some sort of bounce, whether justified or not, just for technical reasons," said Paul Simon, chief investment officer for Tactical Allocation Group, which has $1.5 billion in assets under advisement.

The S&P 500 index rose 6.86 points, 0.5 percent, to close at 1,278.36. The Dow Jones industrial average added 76.02 points, or 0.6 percent, to 12,080.38. The Nasdaq composite gained 13.18, or 0.5 percent, to 2,629.66.

Health care companies like Aetna Inc. and Humana Inc. rose 1 percent, the largest gain among the 10 industry groups that make up the S&P 500 index. Financial companies like Morgan Stanley, which lost 1.9 percent, were the only group to lose ground.

The S&P 500 notched its third straight day of gains, the longest stretch of increases in the stock market for nearly a month. The index eked out a tiny gain last week, breaking a six-week losing streak driven by concerns that U.S. economic growth would falter in the second half of the year and that Greece's debt crisis would spread. It was the S&P's longest slide since 2002.

The NYSE DOW NYSE DOW closed HIGHER +76.02 points +0.63% on Monday June 20
Sym .......Last .......Change..........
Dow 12,080.38 +76.02 +0.63%
Nasdaq 2,629.66 +13.18 +0.50%
S&P 500 1,278.36 +6.86 +0.54%
30-yr Bond 4.2040% +0.0001

NYSE Volume 3,477,099,750 (prior 4,925,850,000)
Nasdaq Volume 1,651,311,000 (prior 2,491,541,250)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,693.39 -21.55 -0.38%
DAX 7,150.21 -13.84 -0.19%
CAC 40 3,799.66 -24.08 -0.63%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,512.50 -38.60 -0.85%
Shanghai Comp 2,622.63 -20.19 -0.76%
Taiwan We... 8,530.68 -105.42 -1.22%
Nikkei 225 9,354.32 +2.92 +0.03%
Hang Seng 21,599.51 -95.75 -0.44%
Straits Times 3,013.88 +8.60 +0.29%

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

Stocks post third straight day of gains

Stocks rise to first three-day gain since May on hopes delay in Greek aid won't mean default

Stan Choe and David K. Randall, AP Business Writers, On Monday June 20, 2011, 4:39 pm EDT

NEW YORK (AP) -- Investors largely put aside their concerns about the Greek financial crisis Monday and focused instead on value. Stocks rose broadly after the market shook off its longest weekly losing streak in nearly a decade.

The downturn brought the S&P 500 close to its average level over the prior 200 days. So long as the index doesn't sink far below that level, many technical traders see it as a sign to start buying stocks again. The S&P is now 6 percent below the 2011 high it reached on April 29.

"In the short term, stocks have been oversold, and you're going to get some sort of bounce, whether justified or not, just for technical reasons," said Paul Simon, chief investment officer for Tactical Allocation Group, which has $1.5 billion in assets under advisement.

The S&P 500 index rose 6.86 points, 0.5 percent, to close at 1,278.36. The Dow Jones industrial average added 76.02 points, or 0.6 percent, to 12,080.38. The Nasdaq composite gained 13.18, or 0.5 percent, to 2,629.66.

Health care companies like Aetna Inc. and Humana Inc. rose 1 percent, the largest gain among the 10 industry groups that make up the S&P 500 index. Financial companies like Morgan Stanley, which lost 1.9 percent, were the only group to lose ground.

The S&P 500 notched its third straight day of gains, the longest stretch of increases in the stock market for nearly a month. The index eked out a tiny gain last week, breaking a six-week losing streak driven by concerns that U.S. economic growth would falter in the second half of the year and that Greece's debt crisis would spread. It was the S&P's longest slide since 2002.

Signs that the European financial crisis may be contained helped ease investors' concerns. European Union officials in Luxemburg said Monday that the EU would take steps to prevent Greece's debt problems from affecting other struggling countries like Ireland and Portugal.

European leaders failed over the weekend to agree on releasing more financial aid to Greece, saying the country must first agree to more budget cuts. Greece's recent efforts to slash spending have led to street protests and political turmoil in Athens. The Greek government faces a confidence vote on Tuesday.

Prime Minister George Papandreou's newly-reshuffled government is expected to prevail in the vote, and officials say they expect Greece to get its next installment of emergency loans in July. If Greece were to default, it could trigger losses for the banks that hold Greek bonds and more turmoil in financial markets.

Some analysts say investors are ready to move beyond the Greek crisis and focus on corporate earnings and the U.S. economy.

"There's a little fatigue about hearing about the same problems, and there's no shock factor anymore," said Oliver Pursche, president of Gary Goldberg Financial Services. Traders are now starting to look ahead to the Federal Reserve's two-day policy meeting, which begins Tuesday, and the next round of corporate earnings reports that begin in July, he said.

Analysts expect that operating earnings per share for companies in the S&P 500 index rose 14 percent in the second quarter. They also expect the Fed to keep interest rates at nearly zero, a record low.

Among U.S. companies, PNC Financial Services Group Inc. fell 2 percent after saying it would buy the U.S. retail operations of Royal Bank of Canada for $3.45 billion. The deal will make PNC the fifth biggest U.S. bank with 2,870 branches.

Whole Foods Market Inc. gained 2.2 percent after a BMO Capital Markets analyst upgraded the stock following a recent sell-off. And Wal-Mart stores Inc. rose 0.4 percent after the Supreme Court blocked a sex discrimination lawsuit brought against the retailer by a large group of female employees.

Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 3.1 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks rose for a fourth day straight Tuesday on hopes that a vote of confidence in the Greek government will help the country avoid a default.

The vote is expected late Tuesday. A successful vote could reassure investors that Greece will push through budget cuts required to get the latest installment of emergency loans. Worries that a default by Greece could lead to a wider financial crisis have been a drag on markets since early May.

Materials producers and other companies whose profits are closely tied to global economic growth had the biggest gains Tuesday. Aluminum producer Alcoa Inc. rose 4 percent, leading the 30 companies that make up the Dow. Gains were widespread, with nine out of 10 industry groups higher. Only consumer goods saw a decline.

"One of the reasons we're more positive than negative on stocks is that there's so much bad news priced into the markets right now," said Eric Thorne, an investment adviser and senior vice president at of Bryn Mawr Trust Wealth Management, which has $4 billion in assets under management. "The bar has been set so low for housing and jobs that it makes us feel like we may be able to jump over that low bar."

The S&P 500 index rose 17.16 points, or 1.3 percent, to close at 1295.52. The last time the S&P rose four days straight was at the end of May.

The Dow Jones industrial average rose 109.63, slightly less than 1 percent, to 12,190.01. The Nasdaq composite rose 57.60, or 2.2 percent, to 2,687.26.

The NYSE DOW NYSE DOW closed HIGHER +109.63 points +0.91% on Tuesday June 21
Sym .......Last .......Change..........
Dow 12,190.01 +109.63 +0.91%
Nasdaq 2,687.26 +57.60 +2.19%
S&P 500 1,295.52 +17.16 +1.34%
30-yr Bond 4.2190% +0.0150

NYSE Volume 4,071,324,500 (prior 3,477,099,750)
Nasdaq Volume 1,928,330,000 (prior 1,651,311,000)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,775.31 +81.92 +1.44%
DAX 7,285.51 +135.30 +1.89%
CAC 40 3,877.07 +77.41 +2.04%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,565.20 +52.70 +1.17%
Shanghai Comp 2,647.68 +26.43 +1.01%
Taiwan We... 8,597.62 +66.94 +0.78%
Nikkei 225 9,459.66 +105.34 +1.13%
Hang Seng 21,850.59 +251.08 +1.16%
Straits Times 3,053.51 +39.91 +1.32%

http://finance.yahoo.com/news/Stock...7.html?x=0&sec=topStories&pos=3&asset=&ccode=

Stocks rise for fourth straight day on Greek hopes

Stocks climb on hopes that Greek confidence vote will help country avoid a debt default

Stan Choe and Matthew Craft, AP Business Writers, On Tuesday June 21, 2011, 5:06 pm EDT

NEW YORK (AP) -- Stocks rose for a fourth day straight Tuesday on hopes that a vote of confidence in the Greek government will help the country avoid a default.

The vote is expected late Tuesday. A successful vote could reassure investors that Greece will push through budget cuts required to get the latest installment of emergency loans. Worries that a default by Greece could lead to a wider financial crisis have been a drag on markets since early May.

Materials producers and other companies whose profits are closely tied to global economic growth had the biggest gains Tuesday. Aluminum producer Alcoa Inc. rose 4 percent, leading the 30 companies that make up the Dow. Gains were widespread, with nine out of 10 industry groups higher. Only consumer goods saw a decline.

"One of the reasons we're more positive than negative on stocks is that there's so much bad news priced into the markets right now," said Eric Thorne, an investment adviser and senior vice president at of Bryn Mawr Trust Wealth Management, which has $4 billion in assets under management. "The bar has been set so low for housing and jobs that it makes us feel like we may be able to jump over that low bar."

The S&P 500 index rose 17.16 points, or 1.3 percent, to close at 1295.52. The last time the S&P rose four days straight was at the end of May.

The Dow Jones industrial average rose 109.63, slightly less than 1 percent, to 12,190.01. The Nasdaq composite rose 57.60, or 2.2 percent, to 2,687.26.

Before posting a small gain last week, stocks indexes fell for six straight weeks after reaching a peak for the year on April 29.

Another reason stocks are rising is that analysts expect corporate earnings growth to remain strong. That's despite more than a dozen reports since May that showed the U.S. economy has slowed. Home prices and sales have declined, manufacturing growth has slowed and the job market remains weak.

Even so, analysts surveyed by FactSet forecast that companies in the Standard & Poor's 500 index will earn 14 percent more in the second quarter compared with last year. Large U.S. companies begin reporting quarterly results in early July.

Carnival Corp. rose 4.2 percent after the cruise operator reported revenue and earnings that beat expectations.

Best Buy Co. rose 2.6 percent after increasing its quarterly dividend 7 percent, to 16 cents per share. The electronics retailer also approved a program to buy back up to $5 billion of its stock.

Walgreen, the biggest U.S. drugstore chain, fell 4.2 percent after saying negotiations to stay in Express Script's pharmacy provider network have reached an impasse. Their deal, worth $5.3 billion in revenue this fiscal year, expires at the end of 2011.

European stocks climbed. The gains accelerated through the day after U.S. stocks moved higher. France's CAC 40 index rose 2 percent, and Germany's DAX index rose 1.9 percent.

The Federal Reserve began a two-day policy meeting Tuesday. Economists expect the central bank to keep interest rates at record lows, but most say the Fed won't announce another round of bond buying to help boost the economy.

Six stocks rose for every one that fell on the New York Stock Exchange. Trading volume was 3.6 billion shares.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks faded to a weak close Wednesday after Federal Reserve Chairman Ben Bernanke said the drags on the U.S. economy may be worse than previously thought.

Major indexes had been mixed for much of the day but turned lower in mid-afternoon trading as Bernanke spoke at a news conference.

Responding to a reporter's question, Bernanke said that some of the problems plaguing the economy such as weakness in the financial industry and the housing market and "may be stronger and more persistent than we thought."

Earlier, the Fed released a slightly lower forecast for U.S. economic growth this year. The Fed said it now expects the economy to grow between 2.7 percent and 2.9 percent this year, down from its previous estimate of 3.1 percent to 3.3 percent after its last meeting in April.

The Federal Reserve left interest rates unchanged at the end of its two-day meeting Wednesday.

The Dow Jones industrial average and the Standard & Poor's 500 index slumped after Bernanke's cautious remarks about the economy. Bernanke also said Greece's debt crisis was a "very difficult situation."

The Dow closed down 80.34 points, or 0.7 percent, at 12,109.67. The S&P 500 index fell 8.38 points, or 0.7 percent, to close at 1,287.14. The Nasdaq fell 18.07 points, or 0.7 percent, to 2,669.19.

The NYSE DOW NYSE DOW closed LOWER -80.34 points -0.66% on Wenesday June 22
Sym .......Last .......Change..........
Dow 12,109.67 -80.34 -0.66%
Nasdaq 2,669.19 -18.07 -0.67%
S&P 500 1,287.14 -8.38 -0.65%
30-yr Bond 4.2150% -0.0040

NYSE Volume 3,718,415,250 (prior 4,071,324,500)
Nasdaq Volume 1,627,536,500 (prior 1,928,330,000)


Europe
Symbol... ......Last .....Change.......
FTSE 100 5,772.99 -2.32 -0.04%
DAX 7,278.19 -7.32 -0.10%
CAC 40 3,871.37 -5.70 -0.15%


Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,590.80 +25.60 +0.56%
Shanghai Comp 2,648.98 +2.49 +0.09%
Taiwan We... 8,621.04 +23.42 +0.27%
Nikkei 225 9,629.43 +169.77 +1.79%
Hang Seng 21,859.97 +9.38 +0.04%
Straits Times 3,050.56 -2.95 -0.10%

http://news.yahoo.com/s/ap/20110622/ap_on_bi_st_ma_re/us_wall_street

Stocks sink as Bernanke voices caution on economy

By STAN CHOE and MATTHEW CRAFT, AP Business Writers Stan Choe And Matthew Craft, Ap Business Writers – 1 hr 22 mins ago

NEW YORK – Stocks faded to a weak close Wednesday after Federal Reserve Chairman Ben Bernanke said the drags on the U.S. economy may be worse than previously thought.

Major indexes had been mixed for much of the day but turned lower in mid-afternoon trading as Bernanke spoke at a news conference.

Responding to a reporter's question, Bernanke said that some of the problems plaguing the economy such as weakness in the financial industry and the housing market and "may be stronger and more persistent than we thought."

Earlier, the Fed released a slightly lower forecast for U.S. economic growth this year. The Fed said it now expects the economy to grow between 2.7 percent and 2.9 percent this year, down from its previous estimate of 3.1 percent to 3.3 percent after its last meeting in April.

The Federal Reserve left interest rates unchanged at the end of its two-day meeting Wednesday.

The Dow Jones industrial average and the Standard & Poor's 500 index slumped after Bernanke's cautious remarks about the economy. Bernanke also said Greece's debt crisis was a "very difficult situation."

The Dow closed down 80.34 points, or 0.7 percent, at 12,109.67. The S&P 500 index fell 8.38 points, or 0.7 percent, to close at 1,287.14. The Nasdaq fell 18.07 points, or 0.7 percent, to 2,669.19.

Even with the dimmer outlook, the Fed pledged no new help to boost the economy. The central bank's $600 billion bond-buying program draws to a close at the end of this month.

Among heavily traded companies, FedEx Corp. reported a 33 percent jump in income and said it expects global economic growth to continue. The package delivery company's stock rose 2.6 percent.

Analysts consider results from FedEx and its rival UPS Corp. important indicators for the broader economy because they ship orders for all kinds of businesses.

CarMax Inc. rose 7 percent, the biggest gain in the S&P 500 index. The dealership owner said profit rose 25 percent on higher used-vehicle prices.

Jabil Circuit Inc. rose 3 percent after the electronics part maker said its earnings doubled last quarter.

AeroVironment Inc. jumped 21 percent after the maker of unmanned aerial drones and charging systems for electric cars said its income rose 13 percent.

In Greece, the new government narrowly won a vote of confidence. That may help it push through budget cuts and other austerity measures that it needs to secure more emergency loans.

The cash will help the country at least delay a default on its debt, an event that would hurt banks and the European economy. Worries about a Greek default have weighed on global financial markets since May.

Three stocks fell for every two that rose on the New York Stock Exchange Wednesday. Volume was light at 3.3 billion shares, below the daily average of 3.9 billion over the previous two months

 

[bigdog]

Source: http://finance.yahoo.com

What began with a steep drop in the stock market ended with a modest decline Thursday. The Dow Jones industrial average lost just 60 points after being down nearly 240 points earlier in the day.

A jump in the number of people applying for jobless benefits and plummeting oil prices drove stocks lower at the market open. By 11 a.m., the Dow was down 234 points. Then came late afternoon reports that Greece may have reached a deal for a new austerity plan. The Dow made up nearly 100 points between 2:45 and 3 p.m. alone.

The Dow finished with a loss of 59.67 points, or 0.5 percent, to 12,050. The Standard & Poor's 500 index, down as many as 24 points, closed down just 3.64, or 0.3 percent, to 1,283.50.

Since late April, reports on manufacturing, retail sales, home sales and other economic indicators have come in weaker than economists anticipated. Europe's debt problems and a slowing growth rate in China have also raised concerns about the global economy. On Wednesday, Federal Reserve Chairman Ben Bernanke said problems plaguing the economy may last longer than previously thought.

As a result, the stock market has fallen six of the last seven weeks. The S&P 500 is down 5.9 percent from its high for the year of 1363.61 in April.

The NYSE DOW NYSE DOW closed LOWER -59.67 points -0.49% on Thursday June 23
Sym .......Last .......Change..........
Dow 12,050.00 -59.67 -0.49%
Nasdaq 2,686.75 +17.56 +0.66%
S&P 500 1,283.50 -3.64 -0.28%
30-yr Bond 4.1570% -0.0580

NYSE Volume 4,983,459,000 (prior 3,718,415,250)
Nasdaq Volume 2,081,759,250 (prior 1,627,536,500)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,674.38 -98.61 -1.71%
DAX 7,149.44 -128.75 -1.77%
CAC 40 3,787.79 -83.58 -2.16%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,561.40 -29.40 -0.64%
Shanghai Comp 2,687.59 +38.27 +1.44%
Taiwan We... 8,567.28 -53.76 -0.62%
Nikkei 225 9,596.74 -32.69 -0.34%
Hang Seng 21,759.14 -100.83 -0.46%
Straits Times 3,044.72 +1.89 +0.06%

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

Stocks dip as job market worries continue

Energy stocks lead market lower as oil prices plunge; unemployment claims jump

Matthew Craft and David K. Randall, AP Business Writer, On Thursday June 23, 2011, 5:25 pm EDT

NEW YORK (AP) -- What began with a steep drop in the stock market ended with a modest decline Thursday. The Dow Jones industrial average lost just 60 points after being down nearly 240 points earlier in the day.

A jump in the number of people applying for jobless benefits and plummeting oil prices drove stocks lower at the market open. By 11 a.m., the Dow was down 234 points. Then came late afternoon reports that Greece may have reached a deal for a new austerity plan. The Dow made up nearly 100 points between 2:45 and 3 p.m. alone.

The Dow finished with a loss of 59.67 points, or 0.5 percent, to 12,050. The Standard & Poor's 500 index, down as many as 24 points, closed down just 3.64, or 0.3 percent, to 1,283.50.

Since late April, reports on manufacturing, retail sales, home sales and other economic indicators have come in weaker than economists anticipated. Europe's debt problems and a slowing growth rate in China have also raised concerns about the global economy. On Wednesday, Federal Reserve Chairman Ben Bernanke said problems plaguing the economy may last longer than previously thought.

As a result, the stock market has fallen six of the last seven weeks. The S&P 500 is down 5.9 percent from its high for the year of 1363.61 in April.

"This is no longer looking like a small soft patch. It's beginning to look more like quicksand," said Lawrence Creatura, a stock portfolio manager at Federated Investors.

The continued rise in first-time claims for unemployment benefits indicated little improvement in the job market since May, when there was a drop in the number of new jobs created. New applications for unemployment benefits rose to 429,000 last week, from 420,000 the week before.

"400,000 is the magic number and we've been above it for 11 weeks," Creatura said.

Energy companies like Exxon Mobil and Chevron Corp. led the market downward after oil prices tumbled nearly 5 percent. Oil dropped after the International Energy Agency said 60 million barrels of oil would be released from reserves to make up for the loss of Libyan exports. Oil prices had spiked following unrests in Middle East and North Africa, raising concerns that higher fuel costs would slow the world economy.

Companies like Netflix, Priceline.com and others in the consumer discretionary industry were mostly up. Overall, the group rose 0.4 percent. Investors are betting that a drop in oil costs could lead consumers to spend more money on things like movies, restaurants and clothing. Netflix was up 2.9 percent. Chipotle Mexican Grill gained 2.2 percent.

Companies that benefit from lower fuel costs also rose. Airline stocks like United Continental Holdings Inc. and AMR Corp, the parent company of American Airlines, rose more than 4 percent.

The two indexes most tied to economic growth fared better than the broader market. The tech-focused Nasdaq composite index was up 17.56, or 0.7 percent, to 2,686.75. And the Russell 2000 index of small companies gained 0.4 percent. For the week, both are up 2.7 percent.

"We're starting to see that the supply-chain disruptions caused by the tragedy in Japan are easing a bit, and the biggest beneficiaries of that are technology and auto-supply companies" which tend to be smaller businesses, said Burt White, the chief investment officer at LPL Financial.

Among the most active stocks, Bed Bath & Beyond gained 5.3 percent after the home furnishings retailer posted a 31 percent jump in income. The company also raised its earnings forecast for the rest of the year, in part because of cost controls it has in place. ConAgra Foods Inc. fell 0.2 percent. The owner of Slim Jim and Hebrew National brands cut its earnings estimate for the current quarter.

Government bond prices were higher as traders shifted money into investments that are considered safe, pushing long-term interest rates lower. The yield on the 10-year Treasury note sank to 2.90 percent, near its low mark for the year. Bond yields fall when their prices rise.

Even so, portfolio manager Creatura says that the recent market slide could represent a chance to pick up some stocks on the cheap. Current prices already reflect reaction to most of the economy's problems, he says. "The most fearful times can be the best times to invest," he said. "It's not only what you buy, it's the price you pay that matters."

Three stocks fell for every two that rose on the New York Stock Exchange. Volume was slightly above average at 4.4 billion.

 

[bigdog]

Source: http://finance.yahoo.com

If weak financial results from big tech companies are a sign of what's to come, stock indexes are in for a tough summer.

Stocks fell Friday, giving the market another losing week, after poor earnings reports from two major technology companies suggested that companies invested less in new technology as the economic recovery slowed.

Fears of a spreading European debt crisis also weighed on markets. Italian bank stocks plunged and trading in some of them was halted after Moody's warned that it might downgrade their credit ratings.

"I think it spooked a lot of people," said Frederick Rizzo, who analyzes European banks for T. Rowe Price. "The markets are really emotional right now."

The Dow Jones industrial average fell 115.42 points, or 1 percent, to 11,934.58. The Standard & Poor's 500 index fell 15.05, or 1.2 percent, to 1,268.45. The Nasdaq composite fell 33.86, or 1.3 percent, to 2,652.89.

The decline erased all of this week's gains for the Dow Jones industrial average and S&P index. The broad stock market has now fallen for seven of the last eight weeks, largely because of concerns that the U.S. economy is slowing and that Europe's debt problems may lead to another financial crisis. The S&P 500 is down 7 percent since it hit a high for the year on April 29.

The NYSE DOW NYSE DOW closed LOWER -115.42 points -0.96% on Friday June 24
Sym .......Last .......Change..........
Dow 11,934.58 -115.42 -0.96%
Nasdaq 2,652.89 -33.86 -1.26%
S&P 500 1,268.45 -15.05 -1.17%
30-yr Bond 4.1740% +0.0170

NYSE Volume 5,359,710,500 (prior 4,983,459,000)
Nasdaq Volume 4,036,700,250 (prior 2,081,759,250)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,697.72 +23.34 +0.41%
DAX 7,121.38 -28.06 -0.39%
CAC 40 3,784.80 -2.99 -0.08%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,565.00 +3.60 +0.08%
Shanghai Comp 2,745.75 +57.50 +2.14%
Taiwan We... 8,532.83 -34.45 -0.40%
Nikkei 225 9,678.71 +81.97 +0.85%
Hang Seng 22,171.95 +412.81 +1.90%
Straits Times 3,066.85 +22.13 +0.73%

http://finance.yahoo.com/news/Stock...7.html?x=0&sec=topStories&pos=1&asset=&ccode=

Stocks end another week lower on Europe worries

Stocks fall on weak tech results and new concerns about European banks

Daniel Wagner and David K. Randall, AP Business Writers, On Friday June 24, 2011, 7:15 pm

If weak financial results from big tech companies are a sign of what's to come, stock indexes are in for a tough summer.

Stocks fell Friday, giving the market another losing week, after poor earnings reports from two major technology companies suggested that companies invested less in new technology as the economic recovery slowed.

Fears of a spreading European debt crisis also weighed on markets. Italian bank stocks plunged and trading in some of them was halted after Moody's warned that it might downgrade their credit ratings.

"I think it spooked a lot of people," said Frederick Rizzo, who analyzes European banks for T. Rowe Price. "The markets are really emotional right now."

The Dow Jones industrial average fell 115.42 points, or 1 percent, to 11,934.58. The Standard & Poor's 500 index fell 15.05, or 1.2 percent, to 1,268.45. The Nasdaq composite fell 33.86, or 1.3 percent, to 2,652.89.

The decline erased all of this week's gains for the Dow Jones industrial average and S&P index. The broad stock market has now fallen for seven of the last eight weeks, largely because of concerns that the U.S. economy is slowing and that Europe's debt problems may lead to another financial crisis. The S&P 500 is down 7 percent since it hit a high for the year on April 29.

Technology stocks were broadly lower. Micron Technology Inc. fell 14.5 percent after the company said lower sales of computer chips hurt its earnings, which were far less than analysts had expected. Oracle Corp. fell 4 percent after its sales of computer hardware fell sharply. Cisco Systems Inc. fell 3.5 percent, and Microsoft Corp. lost 1.3 percent.

Government bond prices rose to their highest level of the year as investors favored lower-risk assets. The yield on the 10-year Treasury dipped to 2.86 percent.

The U.S. economy has cooled since late April. Recent reports on housing, employment, manufacturing and retail sales all have been weak. The debt crisis in Greece and fears that China's growth is slowing have also pushed markets lower.

"No one is expecting good news, but if it's worse than expectations, this is really a very shaky market," said Uri Landesman, president of Platinum Partners, a hedge fund.

Landesman expects that the Standard & Poor's 500 index will fall to 1,200 this summer as more companies report second-quarter earnings next month. The last time the S&P 500 crossed that threshold was in December 2010.

Stocks fell despite the fact that the government said the economy grew at a 1.9 percent annual rate in the first quarter, slightly higher than an earlier estimate of 1.8 percent. The figure still indicated very slow growth for a post-recession recovery. Economists expect little improvement in the second quarter, which ends next week.

Still, another government report showed that businesses ordered more machinery, equipment and airplanes in May than in April. Orders of such durable goods increased by 1.9 percent in May after a sharp decline in April.

Two stocks fell for every one that rose on the New York Stock Exchange. Volume was slightly above average at 4.4 billion shares.

3481

Using IE9 and having problems sorting the charts!!

 

[bigdog]

Source: http://finance.yahoo.com

Signs that a widespread European debt crisis could be averted helped send stocks up Monday.

French banks agreed to accept slower repayment of Greece's debt, giving Greece more time to meet its other financial obligations. French banks hold $21.3 billion in Greek government debt. Greek lawmakers also began debate more budget-cutting measures. Greece's parliament needs to pass the new austerity plan this week before the country can receive a $17 billion installment from a rescue package arranged last year.

The U.S. government, meanwhile, said that spending by consumers decreased in May, after adjusting for inflation. April's figures were also revised downward, revealing the first decline since January 2010. Consumer spending accounts for 70 percent of economic activity.

Gas prices nearing $4 per gallon in late April and early May curtailed spending on retail goods such as televisions and clothes. Since then, gas prices have fallen to a national average of $3.57 per gallon. Oil prices have declined steeply over the last few weeks, which should eventually translate into even lower pump prices. Analysts say lower gas prices could help boost consumer spending in other areas in the coming months.

The Dow Jones industrial average rose 108.98 points, or 0.9 percent, to close at 12,043.56. The Standard & Poor's 500 index rose 11.65, or 0.9 percent, to 1,280.10. The Nasdaq composite index rose 35.39, or 1.3 percent, to 2,688.28.

The NYSE DOW NYSE DOW closed HIGHER +108.98 points +0.91% on Monday June 27
Sym .......Last .......Change..........
Dow 12,043.56 +108.98 +0.91%
Nasdaq 2,688.28 +35.39 +1.33%
S&P 500 1,280.10 +11.65 +0.92%
30-yr Bond 4.2820% +0.1080

NYSE Volume 3,602,571,750 (prior 5,359,710,500)
Nasdaq Volume 1,729,619,875 (prior 4,036,700,250)

Europe
Symbol... ......Last .....Change.......
FTSE 100 5,722.34 +24.62 +0.43%
DAX 7,107.90 -13.48 -0.19%
CAC 40 3,796.55 +11.75 +0.31%

Asia Pacific
Symbol...... .....Last ....Change.......
ASX All Ord 4,513.80 -51.20 -1.12%
Shanghai Comp 2,758.23 +12.02 +0.44%
Taiwan We... 8,500.16 -32.67 -0.38%
Nikkei 225 9,578.31 -100.40 -1.04%
Hang Seng 22,041.77 -130.18 -0.59%
Straits Times 3,050.67 -16.18 -0.53%

http://finance.yahoo.com/news/Euro-...7.html?x=0&sec=topStories&pos=2&asset=&ccode=

Euro debt news lifts stocks after last week's loss

US stocks rebound from last week's losses after encouraging news on European debt crisis

Daniel Wagner and Matthew Craft, AP Business Writers, On Monday June 27, 2011, 5:05 pm

Signs that a widespread European debt crisis could be averted helped send stocks up Monday.

French banks agreed to accept slower repayment of Greece's debt, giving Greece more time to meet its other financial obligations. French banks hold $21.3 billion in Greek government debt. Greek lawmakers also began debate more budget-cutting measures. Greece's parliament needs to pass the new austerity plan this week before the country can receive a $17 billion installment from a rescue package arranged last year.

The U.S. government, meanwhile, said that spending by consumers decreased in May, after adjusting for inflation. April's figures were also revised downward, revealing the first decline since January 2010. Consumer spending accounts for 70 percent of economic activity.

Gas prices nearing $4 per gallon in late April and early May curtailed spending on retail goods such as televisions and clothes. Since then, gas prices have fallen to a national average of $3.57 per gallon. Oil prices have declined steeply over the last few weeks, which should eventually translate into even lower pump prices. Analysts say lower gas prices could help boost consumer spending in other areas in the coming months.

The Dow Jones industrial average rose 108.98 points, or 0.9 percent, to close at 12,043.56. The Standard & Poor's 500 index rose 11.65, or 0.9 percent, to 1,280.10. The Nasdaq composite index rose 35.39, or 1.3 percent, to 2,688.28.

Analysts said the rally was stronger than the economic news would suggest in part because many traders invest when indices hit certain pre-determined price levels.

In this case, the key number is 1,257 -- the S&P's break-even figure for the year, said Todd Salamone, director of research at Schaeffer's Investment Research. The S&P approached that level in March and again earlier this month. Both times, the market rallied as so-called technical traders poured into the market.

The Monday-morning rally was driven by "a combination of trading on that (break-even) level and a catalyst, the situation in Europe," Salamone said. "Whether we sustain it is another question."

Stocks rose broadly. All 10 industry groups in the S&P were higher, with financials, information technology and retail stocks showing the strongest gains.

Amazon.com Inc. rose 4.5 percent to $201.25, making it the top-preforming company in the S&P 500. Morgan Stanley analysts said the online retailer should benefit from expanding international sales in places like Japan and Germany, where densely populated cities leave little room for large low-price retail stores.

Shares of electronics maker Molex Inc. fell 4 percent, the most in the S&P, after analysts with Ticonderoga Securities downgraded the stock to "sell" from "neutral." They said the slow economy has hurt demand for tech gadgets like the smart phones that Molex manufactures.

Broad markets have dropped for seven of the past eight weeks as traders received a string of dismal economic data showing that the recovery is slowing. The Dow sank 1 percent on Friday, and the S&P 1.2 percent. The Nasdaq lost 1.3 percent.

The S&P and the Dow both are down 7 percent since they hit their highs for the year on April 29. However, the Dow is still up 4 percent for the year, and the S&P is up 1.8 percent. At the end of June last year, the Dow was down 6.3 percent and the S&P 7.6 percent. The Dow finished the year up 14 percent, the S&P up 12.8 percent.

Europe's debt problems have weighed on global markets in recent weeks, with major indices reacting daily to the news about Greece's progress toward a second bailout loan package. If Greece defaults, the fear is, investors will lose faith in the financial strength of other countries that have borrowed heavily or hold billions in Greek debt. That could lead to a credit crunch -- when banks virtually stopped lending to one another -- similar to what sparked the broader financial crisis after the investment bank Lehman Brothers collapsed in 2008.

Amazon.com Inc. rose 4.5 percent, the top-preforming company in the S&P 500 index. Morgan Stanley analysts said the online retailer should benefit from expanding international sales

More than two stocks rose for every one that fell on the New York Stock Exchange. Consolidated trading volume was 3.3 billion shares, lighter than average.