NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

U.S. stocks and Treasury prices dropped Tuesday after Federal Reserve policymakers said they were worried about a slowdown in hiring and appeared to resist buying more bonds to help the economy.

The Dow Jones industrial average was down as much as 133 points after the Fed released minutes of the March meeting of its Open Market Committee, which sets interest rates and monetary policy. It had been down 45 points before the minutes were released.

The Dow bounced back by the close to a decline of 64.94 points, or 0.5 percent, at 13,199.55. The Standard & Poor's 500 index fell 5.66 points to 1,413.38.

The Nasdaq composite index dropped 6.13 to 3,113.57. It was the fifth loss for the Nasdaq in six trading sessions, but the index remains up almost 20 percent for the year, compared with 12 percent for the S&P.

Utility stocks barely rose. The other nine industry groups that make up the S&P 500 fell, led by energy stocks, which declined about 1 percent as a group.

The Fed minutes showed that policymakers fear hiring could slow if economic growth doesn't improve. The country added an average of 245,000 jobs per month from December through February, the strongest three months since the Great Recession.

Only two of 10 voting committee members on the Fed committee said they would support another round of bond purchases, and only if the economy weakened significantly.

The minutes did not address the logistics of more bond-buying, troubling traders of stocks and bonds who anticipate more action from the Fed, said John Canally, an economist for LPL Financial.

The release of the minutes reduced demand for government bonds, driving prices down and yields up. The yield on the benchmark 10-year Treasury note rose to 2.31 percent from 2.16 percent earlier Tuesday. That was its highest since March 20.

The NYSE DOW closed LOWER ▼ -64.94 points or ▼ -0.49% Tuesday, 3 April 2012
Symbol …........Last ......Change.....
Dow_Jones 13,199.55 ▼ -64.94 ▼ -0.49%
Nasdaq___ 3,113.57 ▼ -6.13 ▼ -0.20%
S&P_500__ 1,413.38 ▼ -5.66 ▼ -0.40%
30_Yr_Bond 3.410 ▲ 0.07 ▲ 2.16%

NYSE Volume 3,822,084,500
Nasdaq Volume 1,814,370,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,838.34 ▼ -36.55 ▼ -0.62%
DAX_____ 6,982.28 ▼ -74.37 ▼ -1.05%
CAC_40__ 3,406.78 ▼ -56.13 ▼ -1.62%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,424.40 ▲ 8.00 ▲ 0.18%
Shanghai_Comp 2,262.79 ▲ 10.63 ▲ 0.47%
Taiwan_Weight 7,760.85 ▼ -102.05 ▼ -1.30%
Nikkei_225____ 10,050.39 ▼ -59.48 ▼ -0.59%
Hang_Seng____ 20,790.98 ▲ 53.93 ▲ 1.31%
Strait_Times___ 3,014.98 ▼ -1.09 ▼ -0.04%

http://finance.yahoo.com/news/us-stocks-fall-dimmer-outlook-183141407.html

US stocks fall after dimmer outlook from Fed

US stocks fall after Federal Reserve policy minutes reveal dimmer outlook for jobs, growth

By Daniel Wagner, AP Business Writer

U.S. stocks and Treasury prices dropped Tuesday after Federal Reserve policymakers said they were worried about a slowdown in hiring and appeared to resist buying more bonds to help the economy.

The Dow Jones industrial average was down as much as 133 points after the Fed released minutes of the March meeting of its Open Market Committee, which sets interest rates and monetary policy. It had been down 45 points before the minutes were released.

The Dow bounced back by the close to a decline of 64.94 points, or 0.5 percent, at 13,199.55. The Standard & Poor's 500 index fell 5.66 points to 1,413.38.

The Nasdaq composite index dropped 6.13 to 3,113.57. It was the fifth loss for the Nasdaq in six trading sessions, but the index remains up almost 20 percent for the year, compared with 12 percent for the S&P.

Utility stocks barely rose. The other nine industry groups that make up the S&P 500 fell, led by energy stocks, which declined about 1 percent as a group.

The Fed minutes showed that policymakers fear hiring could slow if economic growth doesn't improve. The country added an average of 245,000 jobs per month from December through February, the strongest three months since the Great Recession.

Only two of 10 voting committee members on the Fed committee said they would support another round of bond purchases, and only if the economy weakened significantly.

The minutes did not address the logistics of more bond-buying, troubling traders of stocks and bonds who anticipate more action from the Fed, said John Canally, an economist for LPL Financial.

The release of the minutes reduced demand for government bonds, driving prices down and yields up. The yield on the benchmark 10-year Treasury note rose to 2.31 percent from 2.16 percent earlier Tuesday. That was its highest since March 20.

The Fed has embarked on two previous rounds of bond-buying, most recently in August 2010, to drive down long-term interest rates. Low bond yields generally encourage profit-hungry investors to buy stocks.

When it appears that bond-buying is unlikely, demand for Treasurys tends to fall. That's because the Fed is the biggest player in the market for U.S. government debt. Traders try to front-run the Fed by buying bonds because they believe demand will be strong later.

Among the ripples in the financial markets after the Fed's announcement:

”” The sell-off in Treasurys was broad. The price of the 30-year Treasury bond fell $2.53 per $100 invested, pushing its yield up to 3.44 percent from 3.32 percent before the Fed minutes.

”” Gold fell $38 an ounce to $1,642 after trading almost unchanged earlier. The Fed minutes suggested inflation is under control, and traders sometimes buy gold as a hedge when they worry about inflation, driving the price up.

”” The dollar rose against the euro, also after being virtually unchanged for most of the day. The euro was down 1.1 cents against the dollar to $1.322 in afternoon trading. Speculation that the Fed won't act typically helps the dollar. When the Fed buys bonds and other debt securities to keep rates low, that limits the returns available to investors who hold the dollar.

Many traders were in wait-and-see mode all morning before the Fed minutes were released. Stocks drifted lower despite solid reports on auto sales and factory activity.

Orders to factories bounced back by a solid 1.3 percent in February as businesses made more long-term investments, the Commerce Department said after the market opened.

The news bolstered earlier signals that U.S. consumers are feeling confident enough in the economy to buy higher-cost items like cars after years of putting off major purchases.

Chrysler said earlier that sales of its vehicles spiked by one-third last month, making March its best month in four years. Sales were helped by the introduction of small cars from the company's Fiat brand. Ford's sales rose 5 percent, General Motors' by 12 percent.

The afternoon selling doused any enthusiasm the market carried into the week after it closed its best first quarter in more than a decade. The Dow and S&P both finished at multi-year highs Monday.

Trading volumes have been light for about two weeks in part because there has been relatively little news to move markets. Many companies are quiet ahead of earnings season, which begins in earnest next week.

The government will release its March jobs report on Friday. Economists expect that hiring slowed modestly last month. The report's impact on the market might be muted because markets will be closed for the beginning of Easter weekend.

In corporate news:

”” Molson Coors Brewing Co. fell 5.4 percent after the company made a major investment overseas, putting up more than $3.5 billion to snap up StarBev and its nine breweries in central and eastern Europe.

”” Investment bank Morgan Stanley fell 2.2 percent after the Federal Reserve said a mortgage division had abused consumers in the foreclosure process. Morgan Stanley has since sold the division, Saxon Mortgage Services Inc., to Ocwen Financial Corp.

”” Home products retailer Conn's Inc. surged 15.5 percent after it beat analysts' profit forecasts in the fourth quarter and boosted its earnings guidance for the upcoming year.

”” Express Scripts Inc. gained another 3.9 percent a day after completing its $29.1 billion acquisition of Medco Health Solutions, forming the largest pharmacy benefits manager in the country. The stock is up 6.4 percent this week.

 

[bigdog]

Source: http://finance.yahoo.com

European debt flared again as a worry for Wall Street and drove stocks Wednesday to their worst loss in a month. The Dow Jones industrial average lost 125 points, and the price of gold plunged to its lowest level since January.

It was only the second time this year the Dow has recorded a triple-digit decline. The average gained 8 percent from January through March, its best first quarter since 1998, but has lost 1 percent already in April.

The Dow was down as much as 179 points earlier in the day. It recovered to close down 124.80 at 13,074.75. Only four of the 30 stocks that make up the average rose for the day.

A disappointing auction of government debt in Spain signaled that investor confidence in that country's finances is weakening. Spain announced tax increases and budget cuts last week, which could hurt its economy further.

Bond yields in Spain shot higher, making it more expensive for the country to raise money. Benchmark stock indexes fell 2.8 percent in Germany, 2.7 percent in France and 2.3 percent in Britain.

Investors had scarcely stopped worrying about the fate of Greece when Spain took its place as the flashpoint of the debt crisis that has hobbled Europe for more than two years.

"It's like when cockroaches appear: You're never quite sure how many are out there," said John Manley, chief equity strategist for Wells Fargo Advantage Funds.

In the U.S., the Standard & Poor's 500 index finished down 14.42 at 1,398.96. The technology-heavy Nasdaq composite index fell 45.48 to 3,068.09, its worst decline of the year and the sixth loss in seven days.

The NYSE DOW closed LOWER ▼ -124.80 points or ▼ -0.95% Wednesday, 4 April 2012
Symbol …........Last ......Change.....
Dow_Jones 13,074.75 ▼ -124.80 ▼ -0.95%
Nasdaq___ 3,068.09 ▼ -45.48 ▼ -1.46%
S&P_500__ 1,398.96 ▼ -14.42 ▼ -1.02%
30_Yr_Bond 3.380 ▼ -0.03 ▼ -0.88%

NYSE Volume 3,859,540,000
Nasdaq Volume 1,815,702,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,703.77 ▼ -134.57 ▼ -2.30%
DAX_____ 6,784.06 ▼ -198.22 ▼ -2.84%
CAC_40__ 3,313.47 ▼ -93.31 ▼ -2.74%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,418.90 ▼ -5.50 ▼ -0.12%
Shanghai_Comp 2,262.79 ▲ 10.63 ▲ 0.47%
Taiwan_Weight 7,760.85 ▼ -102.05 ▼ -1.30%
Nikkei_225____ 9,819.99 ▼ -230.40 ▼ -2.29%
Hang_Seng____ 20,790.98 ▲ 53.93 ▲ 1.31%
Strait_Times___ 2,985.04 ▼ -29.94 ▼ -0.99%

http://finance.yahoo.com/news/stocks-suffer-worst-loss-month-205429462.html

Stocks suffer worst loss in a month; Dow off 125

US stocks fall sharply, following European markets lower, after Spain's weak bond auction

By Pallavi Gogoi, AP Business Writer

NEW YORK (AP) -- European debt flared again as a worry for Wall Street and drove stocks Wednesday to their worst loss in a month. The Dow Jones industrial average lost 125 points, and the price of gold plunged to its lowest level since January.

It was only the second time this year the Dow has recorded a triple-digit decline. The average gained 8 percent from January through March, its best first quarter since 1998, but has lost 1 percent already in April.

The Dow was down as much as 179 points earlier in the day. It recovered to close down 124.80 at 13,074.75. Only four of the 30 stocks that make up the average rose for the day.

A disappointing auction of government debt in Spain signaled that investor confidence in that country's finances is weakening. Spain announced tax increases and budget cuts last week, which could hurt its economy further.

Bond yields in Spain shot higher, making it more expensive for the country to raise money. Benchmark stock indexes fell 2.8 percent in Germany, 2.7 percent in France and 2.3 percent in Britain.

Investors had scarcely stopped worrying about the fate of Greece when Spain took its place as the flashpoint of the debt crisis that has hobbled Europe for more than two years.

"It's like when cockroaches appear: You're never quite sure how many are out there," said John Manley, chief equity strategist for Wells Fargo Advantage Funds.

In the U.S., the Standard & Poor's 500 index finished down 14.42 at 1,398.96. The technology-heavy Nasdaq composite index fell 45.48 to 3,068.09, its worst decline of the year and the sixth loss in seven days.

Crude oil fell $2.54 a barrel to $101.47, its lowest level since mid-February. Investors looking for safe places to park money drove prices for U.S. government debt and the value of the dollar higher.

The euro fell as low as $1.3106, its lowest point against the dollar in more than two weeks. It traded at $1.3217 late Tuesday.

Commodity prices fell sharply. Gold plunged $57.90, or 3.5 percent, to $1,614.10 an ounce. Many investors hold gold as a hedge against a weakening dollar.

Gold doubled in price after the 2008 financial crisis and almost hit $1,900 an ounce, driven partly by fear about the global economy and partly by investors who saw an opportunity to make money from gold's strong rally.

Silver fell more than 6 percent Wednesday, and copper fell 3 percent. The price of crude oil fell $2.54 per barrel to $101.47, its first close below $102 since mid-February.

On Tuesday, minutes from the last meeting of the Federal Reserve showed that members had a sunnier view of the economy because of strong gains in the job market in December, January and February.

The Fed signaled that because the economy is improving, it is unlikely to buy bonds to stimulate the economy further. The Fed launched bond-buying programs in 2008 and 2010 to lower interest rates and help stock prices.

Payroll processor ADP said Wednesday that the economy added 209,000 private-sector jobs in March. Economists think the government's monthly unemployment report on Friday will show a gain of 210,000 for March. Job growth averaged 245,000 from December through February.

Traders sold European bonds and bought safer investments such as German bunds and U.S. Treasurys. The yield on the 10-year Treasury note fell to 2.23 percent from 2.29 percent late Tuesday.

Bank stocks, which typically decline when the European debt crisis flares, dropped sharply. Citigroup dropped 3.6 percent, Morgan Stanley fell 3.5 percent, JPMorgan Chase 2.2 percent and Bank of America 3 percent.

"Despite the relatively strong run we've had in the U.S., there's a number of headwinds out there, the main one being Europe," said Bernie Kavanagh, vice president portfolio management at the investment firm Stifel Financial.

The stocks of materials and mining companies fell. Newmont Mining was down 3.6 percent, while Freeport-McMoran Copper fell 1.4 percent. Aluminum maker Alcoa Inc. fell 2.5 percent, one of the biggest declines in the Dow.

In other corporate news:

”” Sears fell 7.4 percent. The retailer is reportedly planning to sell the casual clothing line Lands' End, which it acquired in 2002.

”” SanDisk, which makes memory cards and chips, plunged 11 percent, the most in the S&P, after the company cut its forecast for first-quarter revenue because of weaker demand and lower prices.

”” Home marketer Hovnanian Enterprises Inc. dropped 8.5 percent on fears that a public stock offering of 25 million shares would dilute share value. The company is selling stock to reduce debt.

”” GMX Resources, an independent oil and gas producer, shot up 24 percent after the company reported that a well drilled in McKenzie County, North Dakota was producing oil at a 50 percent higher rate than a nearby well.

 

[bigdog]

Source: http://finance.yahoo.com

NYSE Good Friday holiday tomorrow April 6

Stocks just had their worst week of the new year.

The Standard & Poor's 500 ended a shortened trading week down 0.7 percent. Though modest compared to the scary drops last year, it's the worst since the week ended Dec. 16, 2011.

Stock trading will be closed for the Good Friday holiday.

Investors sold stocks Thursday on fears that Spain may have trouble paying back its debt after a key interest rate on Spanish government bonds rose to the highest point since November.

"The firewall that Europe has established is in no way adequate to handle a Spanish default," said Jim Russell, chief equity strategist at U.S. Bank Wealth Management. "We're hopeful that (its debt) will be manageable, but we're not sure."

The S&P 500 fell 0.88 point Thursday to close at 1,398.08. The Dow Jones industrial average fell 14.61 points to 13,060.14. The Nasdaq composite rose 12.41 points to 3,080.50.

The Dow and S&P fell right after the opening bell, then turned up briefly before dropping again.

The selling appeared to be tempered by a Labor Department report early Thursday that the number of people seeking jobless benefits fell to a four-year low.

The selling came after the Dow had dropped nearly 125 points a day earlier, its worst decline in a month. That was triggered by minutes from the Federal Reserve's last meeting suggesting that the central bank didn't plan any more steps to push interest rates lower.

"The sell-off yesterday was a little overdone, a reaction to how far we came for the quarter, and how fast," said Brian Lazorishak, a portfolio manager at Chase Investment Counsel. For the first three months of the year, the three major indexes were up 8 percent or more, the best start to a year since the great bull market of the 1990s.

The NYSE DOW closed LOWER ▼ -14.61 points or ▼ -0.11% Thursday, 5 April 2012
Symbol …........Last ......Change.....
Dow_Jones 13,060.14 ▼ -14.61 ▼ -0.11%
Nasdaq___ 3,080.50 ▲ 12.41 ▲ 0.40%
S&P_500__ 1,398.08 ▼ -0.88 ▼ -0.06%
30_Yr_Bond 3.322 ▼ -0.06 ▼ -1.72%

NYSE Volume 3,303,735,750
Nasdaq Volume 1,676,056,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,723.67 ▲ 19.90 ▲ 0.35%
DAX_____ 6,775.26 ▼ -8.80 ▼ -0.13%
CAC_40__ 3,319.81 ▲ 6.34 ▲ 0.19%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,402.30 ▼ -16.60 ▼ -0.38%
Shanghai_Comp 2,302.24 ▲ 39.45 ▲ 1.74%
Taiwan_Weight 7,639.82 ▼ -121.03 ▼ -1.56%
Nikkei_225____ 9,767.61 ▼ -52.38 ▼ -0.53%
Hang_Seng____ 20,593.00 ▲ 53.93 ▼ -0.95%
Strait_Times___ 2,986.20 ▲ 1.16 ▲ 0.04%

http://finance.yahoo.com/news/us-stocks-close-mostly-down-205740582.html

US stocks close mostly down; worst week of 2012

Stocks close mostly lower as investors weigh better US data against signs of trouble in Europe

By Bernard Condon, AP Business Writer

NEW YORK (AP) -- Stocks just had their worst week of the new year.

The Standard & Poor's 500 ended a shortened trading week down 0.7 percent. Though modest compared to the scary drops last year, it's the worst since the week ended Dec. 16, 2011.

Stock trading will be closed for the Good Friday holiday.

Investors sold stocks Thursday on fears that Spain may have trouble paying back its debt after a key interest rate on Spanish government bonds rose to the highest point since November.

"The firewall that Europe has established is in no way adequate to handle a Spanish default," said Jim Russell, chief equity strategist at U.S. Bank Wealth Management. "We're hopeful that (its debt) will be manageable, but we're not sure."

The S&P 500 fell 0.88 point Thursday to close at 1,398.08. The Dow Jones industrial average fell 14.61 points to 13,060.14. The Nasdaq composite rose 12.41 points to 3,080.50.

The Dow and S&P fell right after the opening bell, then turned up briefly before dropping again.

The selling appeared to be tempered by a Labor Department report early Thursday that the number of people seeking jobless benefits fell to a four-year low.

The selling came after the Dow had dropped nearly 125 points a day earlier, its worst decline in a month. That was triggered by minutes from the Federal Reserve's last meeting suggesting that the central bank didn't plan any more steps to push interest rates lower.

"The sell-off yesterday was a little overdone, a reaction to how far we came for the quarter, and how fast," said Brian Lazorishak, a portfolio manager at Chase Investment Counsel. For the first three months of the year, the three major indexes were up 8 percent or more, the best start to a year since the great bull market of the 1990s.

Spain has become the latest point of concern in Europe's debt crisis. Investors are concerned over the ability of the country's government to push through cost-cutting programs at a time when its economy appears to be heading for another recession.

Yields on 10-year Spanish bonds rose 0.08 percentage point to 5.74 percent, the highest level since November and a sign that investors are less confident in the country's finances.

The fear among investors is that if Spain's borrowing costs climb too high, the country will have to follow Greece, Portugal and Ireland and seek outside help to pay its bills. Those three countries got bailouts after their borrowing rates rose above 7 percent.

Worries over Europe drove the dollar to a three-week high against the euro. The euro is trading at $1.31. It was worth $1.33 on March 30.

Seven of the ten industry sectors in the S&P 500 index fell Thursday. Telecommunications companies dropped the most, 1.6 percent. Consumer discretionary companies rose 0.7 percent.

In U.S. stocks, Constellation Brands, a New York-based wine and spirits company, plunged 13 percent, the most in the S&P 500. The company's forecast for 2013 earnings was well below what analysts were expecting. Constellation's brands include Robert Mondavi wines and Corona Extra beer.

Bed Bath & Beyond jumped nearly 9 percent, the most in the S&P 500, after the retailer reported a 25 percent surge in fourth-quarter profit, far more than analysts were forecasting. Sales at stores open for at least a year rose 6.8 percent, well above Wall Street's estimate of 3.8 percent.

More stocks fell than rose on the New York Stock Exchange. Volume was light at 3.3 billion shares.

Gold closed up $16 to $1,630 per troy ounce, recovering from a big loss the day before. Gold had fallen $58 Wednesday to its lowest level in three months.

3329

 

[bigdog]

Source: http://finance.yahoo.com


NEW YORK (AP) -- Investors had a three-day weekend to brood over disappointing job growth in March. When they got back to work Monday and delivered their verdict, it wasn't good.

Stocks closed sharply lower, sending the Dow Jones industrial average and the Standard & Poor's 500 index to only their second four-day losing streak this year.

The Dow finished down 130.55 points at 12,929.59, its first close below 13,000 since March 12. The S&P ended the day off 15.88 points at 1,382.20. The Nasdaq composite closed down 33.42 at 3,047.08.

The Dow and S&P had four consecutive trading days of declines at the end of January, but the losses then were smaller. The Dow lost 124 points over that stretch. It has lost about 330 this time.

Stocks had their best first quarter since 1998 but have stumbled in April. Last week, the Federal Reserve suggested that it is disinclined to take further steps to help the economy, and the European debt crisis flared in Spain.

Then on Friday, with the stock market closed for Good Friday, the government said the country added just 120,000 jobs in March, half the pace from December through February.


The NYSE DOW closed LOWER ▼ -130.55 points or ▼ -1.00% Monday, 9 April 2012
Symbol …........Last ......Change.....
Dow_Jones 12,929.59 ▼ -130.55 ▼ -1.00%
Nasdaq___ 3,047.08 ▼ -33.42 ▼ -1.08%
S&P_500__ 1,382.20 ▼ -15.88 ▼ -1.14%
30_Yr_Bond 3.184 ▼ -0.14 ▼ -4.15%

NYSE Volume 3,173,560,250
Nasdaq Volume 1,376,659,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,723.67 Closed for holiday
DAX_____ 6,775.26 Closed for holiday
CAC_40__ 3,319.81 Closed for holiday

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,402.30 Closed for holiday
Shanghai_Comp 2,285.78 ▼ -20.78 ▼ -0.90%
Taiwan_Weight 7,600.87 ▼ -105.39 ▼ -1.37%
Nikkei_225____ 9,546.26 ▼ -142.19 ▼ -1.47%
Hang_Seng____ 20,593.00 Closed for holiday
Strait_Times___ 2,960.10 ▼ -26.10 ▼ -0.87%


http://finance.yahoo.com/news/dow-closes-below-13-000-201609100.html

Dow closes below 13,000 for first time in a month

Stocks drop, sending Dow to fourth loss in a row, in first response to weak March jobs data

By Pallavi Gogoi, AP Business Writer

NEW YORK (AP) -- Investors had a three-day weekend to brood over disappointing job growth in March. When they got back to work Monday and delivered their verdict, it wasn't good.

Stocks closed sharply lower, sending the Dow Jones industrial average and the Standard & Poor's 500 index to only their second four-day losing streak this year.

The Dow finished down 130.55 points at 12,929.59, its first close below 13,000 since March 12. The S&P ended the day off 15.88 points at 1,382.20. The Nasdaq composite closed down 33.42 at 3,047.08.

The Dow and S&P had four consecutive trading days of declines at the end of January, but the losses then were smaller. The Dow lost 124 points over that stretch. It has lost about 330 this time.

Stocks had their best first quarter since 1998 but have stumbled in April. Last week, the Federal Reserve suggested that it is disinclined to take further steps to help the economy, and the European debt crisis flared in Spain.

Then on Friday, with the stock market closed for Good Friday, the government said the country added just 120,000 jobs in March, half the pace from December through February.

After a long weekend to think it over, investors sold stocks broadly. All 10 industry groups in the S&P 500 fell on Monday, with financial stocks the worst performers. Bank of America fell 3.2 percent, and Citigroup was off 2.4 percent.

Of the 30 stocks that make up the Dow, only two, McDonald's and Hewlett-Packard, finished higher. Traders at least didn't sell in great numbers: Volume on the New York Stock Exchange was 3.1 billion shares, the lightest in almost a month. Most school districts in New York and New Jersey are closed this week for spring week.

Investors bought bonds, sending the yield on the benchmark 10-year Treasury note to 2.04 percent, down 0.02 percentage point from Friday. Yields also fell for longer-term U.S. bonds.

Rex Macey, chief investment officer at Wilmington Trust Investment Advisors, cautioned that the jobs report reflected only one disappointing month. Like a doctor, he said, "I'd order up more tests before declaring this as a trend."

The next test will come quickly. Alcoa, the aluminum company, reports its first-quarter earnings Tuesday, the first of the Dow 30 to weigh in. Two major banks, JPMorgan Chase and Wells Fargo, report Friday.

Analysts are expecting quarterly earnings to decline slightly compared with a year earlier. That would break a streak of nine quarters of earnings growth since 2009.

Elsewhere Monday, the price of crude oil fell 1.9 percent, and gold and platinum rose a little less than 1 percent. The euro rose to $1.3116 late Monday, up about two-tenths of a penny from Friday.

Among other stocks making moves:

— AOL shot up 43 percent after the company agreed to sell hundreds of patents and patent applications to Microsoft for a little more than $1 billion. The company plans to return some of the cash to shareholders.

— Avon fell 3.1 percent after the struggling beauty products company named a former executive at Johnson & Johnson, Sherilyn McCoy, to be its CEO. Investors read it as a signal that Avon will fend off acquisition overtures.

— Sherwin-Williams Co. gained 1 percent after the company raised its forecast for first-quarter profit following a 20 percent surge in sales at its paint stores.

 

[bigdog]

Source: http://finance.yahoo.com

The stock market extended its longest and deepest slump of the year Tuesday, caught between a recurring nightmare of European debt and the beginning of uncertain corporate earnings reports at home.

The Dow Jones industrial average fell 213.66 points, its biggest decline of the year and third triple-digit loss in four days. It closed at 12,715.93, its lowest since Feb. 2.

A five-day losing streak has shaved about 550 points off the Dow, more than half what it gained from January through March.

In Europe, concern about the financial health of Spain intensified, and borrowing costs for both Spain and Italy rose considerably. Spain's borrowing costs crept closer to levels that forced other countries to seek bailouts.

European markets sold off while Wall Street was still sleeping. The main stock indexes in Spain and France closed down about 3 percent, the equivalent of a 400-point drop in the Dow.


The NYSE DOW closed LOWER ▼ -213.66 points or ▼ -1.65% Tuesday, 10 April 2012
Symbol …........Last ......Change.....
Dow_Jones 12,715.93 ▼ -213.66 ▼ -1.65%
Nasdaq___ 2,991.22 ▼ -55.86 ▼ -1.83%
S&P_500__ 1,358.59 ▼ -23.61 ▼ -1.71%
30_Yr_Bond 3.136 ▼ -0.05 ▼ -1.51%

NYSE Volume 4,676,836,000
Nasdaq Volume 1,958,538,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,595.55 ▼ -128.12 ▼ -2.24%
DAX_____ 6,606.43 ▼ -168.83 ▼ -2.49%
CAC_40__ 3,217.60 ▼ -102.21 ▼ -3.08%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,373.70 ▼ -28.60 ▼ -0.65%
Shanghai_Comp 2,305.86 ▲ 20.09 ▲ 0.88%
Taiwan_Weight 7,640.68 ▲ 39.81 ▲ 0.52%
Nikkei_225____ 9,538.02 ▼ -8.24 ▼ -0.09%
Hang_Seng____ 20,356.24 ▲ 53.93 ▼ -1.15%
Strait_Times___ 2,977.70 ▲ 17.60 ▲ 0.59%

http://finance.yahoo.com/news/worst-loss-dow-stocks-slump-203808686.html

Worst loss for Dow this year as stocks slump again

Stocks slump on both sides of the Atlantic; Dow has biggest one-day drop of the year

By Christina Rexrode, AP Business Writer

The stock market extended its longest and deepest slump of the year Tuesday, caught between a recurring nightmare of European debt and the beginning of uncertain corporate earnings reports at home.

The Dow Jones industrial average fell 213.66 points, its biggest decline of the year and third triple-digit loss in four days. It closed at 12,715.93, its lowest since Feb. 2.

A five-day losing streak has shaved about 550 points off the Dow, more than half what it gained from January through March.

In Europe, concern about the financial health of Spain intensified, and borrowing costs for both Spain and Italy rose considerably. Spain's borrowing costs crept closer to levels that forced other countries to seek bailouts.

European markets sold off while Wall Street was still sleeping. The main stock indexes in Spain and France closed down about 3 percent, the equivalent of a 400-point drop in the Dow.

"They've managed to put a Band-Aid on the debt crisis, but there's really no solution," said Colleen Supran, a principal at the investment adviser Bingham, Osborn & Scarborough in San Francisco. "And Spain is a much bigger problem than Greece."

The yield on 10-year Spanish bonds rose to almost 6 percent. The point at which governments can no longer afford to raise money on the international bond markets and must seek bailouts is generally considered to be 7 percent.

The 7 percent level forced Greece, the last focal point of the European debt crisis, to seek rescue loans. But Spain's economy is more than five times as large as Greece's.

Jeffrey Cleveland, senior economist at Payden & Rygel in Los Angeles, compared the financial markets to a person coming off a sugar high ”” in this case, the bailout package for Greece put together late last year.

"It works for a few minutes, but eventually reality reasserts itself," Cleveland said. "Nothing has been solved in Europe. People are paying attention to it now. They were able to ignore it for a little while."

In the United States, stock in Alcoa, the aluminum company, surged 5.3 percent after the market closed. Minutes after the closing bell, the company reported profit of 9 cents per share. Analysts expected a loss of 4 cents.

Alcoa was the first of the 30 stocks in the Dow to report its quarterly results, and earnings will help determine whether the market continues its slide or reverses it.

After nine consecutive quarters of earnings growth, analysts think earnings will be flat this time. Those predictions came before Alcoa's impressive results, however.

"Whatever qualifications you want to give it ”” it's because of cost-cutting, they've laid off a lot of people ”” earnings have been one bright spot," said Adrian Day, president of Adrian Day Asset Management in Annapolis, Md. "If that were to turn, that would be sort of the last leg on the stool being knocked away."

The first three months of this year were the best for stocks since 1998, but investors have found plenty to fret about in April.

The losing streak began last Tuesday, when the Federal Reserve said it was worried about the strength of job growth and suggested it was not inclined to provide further help for the economy.

The Dow fell 204 points in three days. It fell 131 more on Monday, the first time investors could react to a report showing much weaker job growth in March than in the three previous months.

Then, on Tuesday, the National Federation of Independent Business reported a drop in its small-business optimism index, the first decline after six months of gains.

That report helped knock stocks down at the open, and with Europe to worry about, they sank all day. The S&P finished down 23.61 points, its worst one-day decline this year, at 1,358.59.

The Nasdaq composite index, which eked out a gain in one of the past four days, ended down 55.86 points, its worst performance this year, at 2,991.22. It closed below 3,000 for the first time in more than a month.

The Dow's 8 percent gain through the first quarter has been shaved to 4 percent. The S&P's gain of 12 percent has been cut to 8 percent. And the Nasdaq's run of almost 20 percent is now just 15.

Last year, the Dow's longest losing streak was an eight-day, 858-point plunge in July and August, with Congress bickering over the government debt limit and just before the S&P ratings agency downgraded the U.S.

On Tuesday, consumer discretionary stocks, which include travel companies, clothing stores and cable companies, fell 2.4 percent as a group, the worst-performing segment of the market.

Financial stocks fell almost as much, and even utilities and health care stocks, which are more dependable in times of economic uncertainty, were down more than 1 percent each.

The worst-performing stock in the Dow was Bank of America, which tends to take a hit when concerns about Europe grow stronger. Bank of America was down 4.4 percent.

Trading was the most active since March 16, 4.6 billion shares.

One big factor in the sell-off is fear that growth is slowing in the world's biggest economies. Recent economic reports from the United States and China have come in far below investors' expectations.

The March jobs report showed a gain of 120,000, about half the monthly gain from December through February. And an earlier report on Americans' incomes showed that when adjusted for inflation, they dipped slightly in February for the second straight month. Without more earnings, consumer spending will likely be constrained.

Investors are pricing in slower growth in the United States, said Neil Dutta, an economist at Bank of America Merrill Lynch. He predicts the S&P will end the year at about 1,400, only about 3 percent higher than where it finished Tuesday.

For now, he said, "the likelihood is that the sell-off is probably not done."

The low expectations for earnings could be a blessing in disguise, though. Companies may have an easier time beating them, which can drive up their stock price, at least temporarily.

"CEOs have done a very good job of setting expectations low," said JJ Kinahan, chief derivatives strategist for TD Ameritrade in Chicago.

Analysts have also worried that high gasoline prices could hurt the economic recovery. The price of oil fell almost to $101 a barrel Tuesday, but that was because traders are betting that a weak U.S. economy will keep demand low.

That's down from nearly $110 last month, but still up significantly from about $75 in October. The buildup has been partly because of tension over Iran's nuclear program and the oil embargoes that have ensued.

Iran, which has already cut off oil shipments to France and Britain, declared Tuesday that it would extend the embargo to Greece, a pre-emptive strike against European countries that planned to stop buying from Iran. Talks on Iran's nuclear program are scheduled for Saturday.

On Tuesday, the dollar and U.S. Treasury prices rose as investors shifted money into lower-risk investments. The yield on the benchmark 10-year Treasury note fell for the fifth straight day, dropping to 1.99 percent from 2.04 percent Monday.

 

[bigdog]

Source: http://finance.yahoo.com

Investors on Wednesday all but forgot the previous day's burdens and sent stocks soaring. It was a stark turnaround from the day before, when they'd pushed the market into a free-fall on worries about European debt and corporate earnings in the U.S.

Those fears about problems festering on both sides of the Atlantic were calmed thanks to a surprising profit from Alcoa and news that borrowing costs in Spain had edged down, a potential sign that investors have more faith ”” for now, anyway ”” in that country's financial health.

The result was a U-turn on Wall Street. The Dow Jones industrial average climbed as much as 129 points in early trading before settling at 12,805.39, up 89.46 points. The previous day, it had lost 214 points, the cap to its biggest and longest losing streak this year.

European markets rose, too. Stocks climbed roughly 1 percent in major capitals, excluding Greece, after losing 2 to 3 percent the day before. Treasury prices fell, signaling that investors are more willing to put money in stocks.

Other U.S. indexes also erased much of the previous day's losses. The Standard & Poor's 500 rose 10.12 points to 1,368.71 after losing 24 points the day before. The Nasdaq composite climbed 25.24 points to 3,016.46 following a 56-point loss Tuesday.

Alcoa rose more than 6 percent after reporting late Tuesday that it turned a profit in the first three months of the year and handily beat the expectations of Wall Street analysts, who were predicting a loss. Since Alcoa is the first company in the Dow average to report earnings, its results have a greater ability to move the market compared with companies that report later. More first-quarter results will be released over the next few weeks.

The NYSE DOW closed HIGHER ▲ 89.46 points or ▲ 0.70% Wednesday, 11 April 2012
Symbol …........Last ......Change.....
Dow_Jones 12,805.39 ▲ 89.46 ▲ 0.70%
Nasdaq___ 3,016.46 ▲ 25.24 ▲ 0.84%
S&P_500__ 1,368.71 ▲ 10.12 ▲ 0.74%
30_Yr_Bond 3.185 ▲ 0.05 ▲ 1.56%

NYSE Volume 3,794,468,250
Nasdaq Volume 1,543,623,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,634.74 ▲ 39.19 ▲ 0.70%
DAX_____ 6,674.73 ▲ 68.30 ▲ 1.03%
CAC_40__ 3,237.69 ▲ 20.09 ▲ 0.62%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,327.30 ▼ -46.40 ▼ -1.06%
Shanghai_Comp 2,308.92 ▲ 3.06 ▲ 0.13%
Taiwan_Weight 7,656.67 ▲ 15.99 ▲ 0.21%
Nikkei_225____ 9,458.74 ▼ -79.28 ▼ -0.83%
Hang_Seng____ 20,140.67 ▲ 53.93 ▼ -1.06%
Strait_Times___ 2,946.44 ▼ -36.00 ▼ -1.21%

http://finance.yahoo.com/news/stocks-u-turn-rising-big-154449096.html

Stocks make a U-turn, rising after big decline

Fears about earnings and Europe ease a day after the stock markets' worst loss of the year

By Christina Rexrode

Investors on Wednesday all but forgot the previous day's burdens and sent stocks soaring. It was a stark turnaround from the day before, when they'd pushed the market into a free-fall on worries about European debt and corporate earnings in the U.S.

Those fears about problems festering on both sides of the Atlantic were calmed thanks to a surprising profit from Alcoa and news that borrowing costs in Spain had edged down, a potential sign that investors have more faith ”” for now, anyway ”” in that country's financial health.

The result was a U-turn on Wall Street. The Dow Jones industrial average climbed as much as 129 points in early trading before settling at 12,805.39, up 89.46 points. The previous day, it had lost 214 points, the cap to its biggest and longest losing streak this year.

European markets rose, too. Stocks climbed roughly 1 percent in major capitals, excluding Greece, after losing 2 to 3 percent the day before. Treasury prices fell, signaling that investors are more willing to put money in stocks.

Other U.S. indexes also erased much of the previous day's losses. The Standard & Poor's 500 rose 10.12 points to 1,368.71 after losing 24 points the day before. The Nasdaq composite climbed 25.24 points to 3,016.46 following a 56-point loss Tuesday.

Alcoa rose more than 6 percent after reporting late Tuesday that it turned a profit in the first three months of the year and handily beat the expectations of Wall Street analysts, who were predicting a loss. Since Alcoa is the first company in the Dow average to report earnings, its results have a greater ability to move the market compared with companies that report later. More first-quarter results will be released over the next few weeks.

Market watchers were divided over how long the gains would last and whether Alcoa's profits actually mean anything for the rest of the earnings season.

"I'm not predicting we're going to have a blowout earnings quarter," said David Armstrong, managing director of Monument Wealth Management in Alexandria, Va. "But I think if people thought earnings season was going to be bad, they may be pleasantly surprised."

"One earnings report?" countered Uri Landesman, president of the New York hedge fund Platinum Partners. The boost "will last until the first bad number."

For Europe as well, investors seemed anxious to latch onto any piece of good news. They were cheered that the rate on Spain's 10-year bonds dropped slightly after nearing 6 percent on Tuesday. Seven percent is generally considered the rate at which it becomes too expensive for a country to borrow money.

Investors chose, largely, to ignore other signs blaring that problems in Europe are only hibernating and not solved. Spain's borrowing costs are still dangerously high. Italy sold 12-month bonds but was forced to pay more than double the interest rate it paid last month. Even Germany, whose bonds are considered a safer investment, failed to sell all the 10-year bonds it had intended to.

In Greece and France, upcoming elections threaten to unravel the uneasy peace that has been reached between the weak and strong countries in Europe. New leaders could unwind hard-fought deals that require Greece and others to cut spending in order to get bailout loans. Greece's unpredictability rose to a new level Wednesday when the country announced it would hold parliamentary elections months ahead of schedule.

Landesman described the dealmaking as "Band-Aid after Band-Aid," rather than a real solution addressing Europe's deep-rooted problems of overspending. "You can't do that forever," Landesman said. "There is a day of reckoning."

If it is hard to predict news out of Europe, it's equally difficult to guess how investors will react to it ”” panicking one day and shrugging off similar developments on another day. There are plenty of days the market swings on news out of Europe that is merely incremental, or even when there's no news at all.

"A possible European recession? I don't really think that's new," said Armstrong. "For people reacting as if this is new news, I think that's poor discipline as a (long-term) investor."

Europe's debt crisis and concerns about U.S. earnings haven't been the only problems for the market in recent weeks. There are also signs that job growth is slowing and that the Federal Reserve is disinclined to pump more money into the economy.

Wednesday's gains still don't make up for the market's second-quarter losses. Wednesday was just the second gain for the Dow in the seven trading days so far this quarter. The Dow was up 8 percent at the end of the first quarter, but it's down 3 percent so far for the second.

From a longer-term viewpoint, however, the market's recent swings have been relatively mild. The Dow plunged nearly 550 points in the five days ending Tuesday, a molehill compared to the mountain of last summer's frightening drops. Those included an 858-point, eight-day plunge in July and August, as Congress bickered over government debt limits and the S&P prepared to downgrade the U.S. debt rating.

In fact, the market's steady rise from Thanksgiving to the end of March has kept the losses of the last few days from being any worse, said Frank Fantozzi, CEO of Planned Financial Services in Cleveland.

"It's like a person," Fantozzi said. "If you're feeling good overall and a couple negative things happen, you just shrug it off. If you're feeling lousy and you get some good news, you still feel lousy."

Among stocks making big moves:

””Titan Machinery, which sells agricultural and construction equipment, jumped nearly 17 percent after reporting a big increase in quarterly profit.

””Cell phone maker Nokia plummeted nearly 16 percent after warning that heavy competition will hurt first-quarter results.

””Travelzoo, the online travel company, soared more than 28 percent after reports that it plans to sell itself to private firms.

 

[bigdog]

Source: http://finance.yahoo.com

Encouraging signs from two of the most important zones of the world economy, the powerhouse of China and the debt-burdened countries of Europe, drove the Dow Jones industrial average up 181 points Thursday, its second-biggest gain this year.

China's central bank reported a surprising jump in loans in March. That eased concerns about a sudden slowdown in the Chinese economy, whose growth has helped pull the globe out of recession.

Italy's government easily sold $6.4 billion in bonds to investors. After the auction, borrowing rates for Italy fell, European stock indexes reversed earlier declines and worries about the continental debt crisis eased, at least for the day.

"European governments have a mountain of debt coming due early this year," said John Canally, investment strategist at LPL Financial in Boston. "Some of what you're seeing today in markets is a bit of relief that they're working through it."

In New York, the Dow Jones industrial average climbed 1.4 percent to close at 12,986.58. It was the Dow's biggest jump since March 13 and put the average within sight of clearing 13,000 again.

After the market closed, Google reported earnings that were ahead of analysts' estimates and said it would issue a new class of non-voting stock to shareholders. Google rose 0.5 percent in aftermarket trading.

On Wednesday the stock market snapped out of a five-day slump, its longest and deepest of the year. Investors were worried about European debt, slower job growth and the Federal Reserve's resistance to taking further steps to boost the economy.

The NYSE DOW closed HIGHER ▲ 181.19 points or ▲ 1.41% Thursday, 12 April 2012
Symbol …........Last ......Change.....
Dow_Jones 12,986.58 ▲ 181.19 ▲ 1.41%
Nasdaq___ 3,055.55 ▲ 39.09 ▲ 1.30%
S&P_500__ 1,387.57 ▲ 18.86 ▲ 1.38%
30_Yr_Bond 3.207 ▲ 0.02 ▲ 0.69%

NYSE Volume 3,543,994,000
Nasdaq Volume 1,491,138,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,710.46 ▲ 75.72 ▲ 1.34%
DAX_____ 6,743.24 ▲ 68.51 ▲ 1.03%
CAC_40__ 3,269.79 ▲ 32.10 ▲ 0.99%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,361.70 ▲ 34.40 ▲ 0.79%
Shanghai_Comp 2,350.86 ▲ 41.94 ▲ 1.82%
Taiwan_Weight 7,662.92 ▲ 6.25 ▲ 0.08%
Nikkei_225____ 9,524.79 ▲ 66.05 ▲ 0.70%
Hang_Seng____ 20,327.32 ▲ 53.93 ▲ 0.93%
Strait_Times___ 2,978.14 ▲ 31.70 ▲ 1.08%

http://finance.yahoo.com/news/stocks-surge-hewlett-packard-leads-155735530.html

Stocks surge; Hewlett-Packard leads Dow higher

US stocks jump as trade deficit shrinks and Italy raises money; Dow leaps 181 points

By Matthew Craft, AP

Encouraging signs from two of the most important zones of the world economy, the powerhouse of China and the debt-burdened countries of Europe, drove the Dow Jones industrial average up 181 points Thursday, its second-biggest gain this year.

China's central bank reported a surprising jump in loans in March. That eased concerns about a sudden slowdown in the Chinese economy, whose growth has helped pull the globe out of recession.

Italy's government easily sold $6.4 billion in bonds to investors. After the auction, borrowing rates for Italy fell, European stock indexes reversed earlier declines and worries about the continental debt crisis eased, at least for the day.

"European governments have a mountain of debt coming due early this year," said John Canally, investment strategist at LPL Financial in Boston. "Some of what you're seeing today in markets is a bit of relief that they're working through it."

In New York, the Dow Jones industrial average climbed 1.4 percent to close at 12,986.58. It was the Dow's biggest jump since March 13 and put the average within sight of clearing 13,000 again.

After the market closed, Google reported earnings that were ahead of analysts' estimates and said it would issue a new class of non-voting stock to shareholders. Google rose 0.5 percent in aftermarket trading.

On Wednesday the stock market snapped out of a five-day slump, its longest and deepest of the year. Investors were worried about European debt, slower job growth and the Federal Reserve's resistance to taking further steps to boost the economy.

"I think the fear was overdone," said Scott Brown, chief economist at Raymond James. "This is the manic nature of the stock market. The sentiment seems to shift back and forth day by day. Either the economy is booming or it's completely falling apart."

In other trading, the Standard & Poor's 500 index rose 18.86 points, 1.4 percent, to 1,387.57. The Nasdaq composite index gained 39.09 points, 1.3 percent, to 3,055.55.

Materials companies led the S&P 500 higher, with energy and industrial stocks close behind. Hewlett-Packard gained 7.2 percent, the best in the Dow, after a study reported that shipments of personal computers unexpectedly rose by almost 2 percent at the start of the year.

The U.S. trade deficit shrank in February to $46 billion, a four-month low, as exports hit an all-time high. The shrinking trade deficit raised the possibility that the economy grew faster in the first quarter than previously expected.

U.S. stocks opened higher despite a rise in weekly unemployment claims. The Labor Department reported that applications for unemployment benefits jumped to 380,000 last week, the highest in two months.

To Canally, the stock market's two-day rally looks fragile. "We're only a few bad earnings reports and a bad government debt auction in Europe from another sharp sell-off," he said.

Among stocks making big moves:

”” Avid Technology Inc. plunged 17 percent. The maker of equipment for recording music and video said it expects to post a loss in the first quarter, a result of weaker demand from amateur musicians and DJs.

”” McKesson Corp. rose 3.9 percent after reporting that the Department of Veteran Affairs agreed to keep McKesson as its main drug supplier. The VA runs one of the country's largest health care systems.

”” Tractor Supply Co. jumped 6.1 percent after its quarterly sales topped $1 billion for the first time beating Wall Street's estimates. The retailer of pig feed, power tools and an array of other products raised its full-year earnings outlook.

 

[bigdog]

Source: http://finance.yahoo.com

It was another losing week on Wall Street after worries about Europe returned.

Stocks closed lower on Friday and closed out their worst week of the year so far. The Dow Jones industrial average lost 1.6 percent for the week, the Standard & Poor's 500 index fell 2 percent.

The Dow is still ahead 5 percent for the year after a gangbusters first quarter. After the kind of returns investors have enjoyed so far this year, some "it's not surprising that we sort of slosh around here for a bit," said Jim Dunigan, managing executive of investments for PNC Wealth Management.

On Friday the Dow lost 136.99 points to close at 12,849.59, a loss of 1.1 percent. It was down all day but the losses got worse in the last half-hour. The decline wiped out much of the Dow's 181-point gain the day before.

The Standard & Poor's 500 index fell 17.31 points, or 1.3 percent, to 1,370.26. The Nasdaq composite fell 44.22 points, 1.5 percent, to 3,011.33.

Investors had several reasons to wonder about the prospects for global economic growth. Higher borrowing costs in Europe reminded investors that the continent's debt problems aren't over. Growth slowed in China. And a closely watched gauge of consumer confidence came in weaker than analysts were expecting.

Peter Cardillo, chief market economist at Rockwell Global Capital, said investors are worried that Europe's economic problems will be bigger than previously expected. Europe needs to growth to fix its debt problems, but higher borrowing costs could force more cuts in government spending.

"You can't have growth if you have too much austerity," Cardillo said. "I think that's what the fear is."

European markets fell broadly. Indexes in France and Germany fell more than 2.4 percent. The FTSE 100 index in Britain fell 1 percent.

The NYSE DOW closed LOWER ▼ -136.99 points or ▼ -1.05% Friday, 13 April 2012
Symbol …........Last ......Change.....
Dow_Jones 12,849.59 ▼ -136.99 ▼ -1.05%
Nasdaq___ 3,011.33 ▼ -44.22 ▼ -1.45%
S&P_500__ 1,370.26 ▼ -17.31 ▼ -1.25%
30_Yr_Bond 3.148 ▼ -0.06 ▼ -1.84%

NYSE Volume 3,636,285,500
Nasdaq Volume 1,490,486,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,651.79 ▼ -58.67 ▼ -1.03%
DAX_____ 6,583.90 ▼ -159.34 ▼ -2.36%
CAC_40__ 3,189.09 ▼ -80.70 ▼ -2.47%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,404.20 ▲ 42.50 ▲ 0.97%
Shanghai_Comp 2,359.16 ▲ 8.30 ▲ 0.35%
Taiwan_Weight 7,788.27 ▲ 125.35 ▲ 1.64%
Nikkei_225____ 9,637.99 ▲ 113.20 ▲ 1.19%
Hang_Seng____ 20,701.04 ▲ 53.93 ▲ 1.84%
Strait_Times___ 2,987.82 ▲ 9.68 ▲ 0.33%

http://finance.yahoo.com/news/stock...g1YWItMTFlMS05ZmZmLTAxOTUzNDc4ZjQwMw--;_ylv=3

Stocks fall on higher European borrowing costs

US stocks pull back on higher European borrowing costs

By Joshua Freed, AP Business Writer

It was another losing week on Wall Street after worries about Europe returned.

Stocks closed lower on Friday and closed out their worst week of the year so far. The Dow Jones industrial average lost 1.6 percent for the week, the Standard & Poor's 500 index fell 2 percent.

The Dow is still ahead 5 percent for the year after a gangbusters first quarter. After the kind of returns investors have enjoyed so far this year, some "it's not surprising that we sort of slosh around here for a bit," said Jim Dunigan, managing executive of investments for PNC Wealth Management.

On Friday the Dow lost 136.99 points to close at 12,849.59, a loss of 1.1 percent. It was down all day but the losses got worse in the last half-hour. The decline wiped out much of the Dow's 181-point gain the day before.

The Standard & Poor's 500 index fell 17.31 points, or 1.3 percent, to 1,370.26. The Nasdaq composite fell 44.22 points, 1.5 percent, to 3,011.33.

Investors had several reasons to wonder about the prospects for global economic growth. Higher borrowing costs in Europe reminded investors that the continent's debt problems aren't over. Growth slowed in China. And a closely watched gauge of consumer confidence came in weaker than analysts were expecting.

Peter Cardillo, chief market economist at Rockwell Global Capital, said investors are worried that Europe's economic problems will be bigger than previously expected. Europe needs to growth to fix its debt problems, but higher borrowing costs could force more cuts in government spending.

"You can't have growth if you have too much austerity," Cardillo said. "I think that's what the fear is."

European markets fell broadly. Indexes in France and Germany fell more than 2.4 percent. The FTSE 100 index in Britain fell 1 percent.

The worries are concentrated in Spain and Italy, and it showed up in their financial markets Friday. Spain's main stock index fell 3.6 percent and is now down 15 percent for the year. The yield on its 10-year government bond rose to 5.93 percent, and Italy's rose to 5.52 percent. That's a sign that investors' confidence in those countries' finances slipped. It also means those countries will have to pay more to borrow money.

New data showed the Chinese economy grew at an 8.1 percent pace in the January-March period, the slowest in almost three years. In the U.S., a closely-watched gauge of consumer confidence came in weaker than analysts had been expecting.

The stock declines were broad. All 10 market sectors tracked by the S&P 500 index fell, led by a 2.3 percent drop in financial stocks.

Bank of America Corp. fell 5.3 percent. Wells Fargo & Co. and JPMorgan Chase & Co. both reported better-than-expected profits, but each fell more than 3.5 percent as investors focused on comments that said the overhang from bad loans would continue.

Among stocks making big moves:

— Apple Inc. fell 2.8 percent after reports that a German court ruled against it in a patent fight with Motorola over mobile e-mail technology.

— Google fell 4 percent after the company said it would issue new non-voting stock to shareholders.

— Coinstar, which runs the Redbox DVD rental kiosks, rose 7.3 percent after it raised its revenue forecast.

— Dow Chemical rose 1.6 percent after it raised its quarterly dividend 28 percent. The company said last week it would eliminate 900 jobs and close several plants.

The dollar and Treasury prices rose. Oil dropped 81 cents to $102.83 per barrel.

4084

 

[bigdog]

Source: http://finance.yahoo.com

For most of the year, Apple has propelled the Nasdaq composite index forward. The stock climbed from $405 at the start of the year to more than $630 last week, and the Nasdaq easily beat the gains of other indexes.

Now Apple is sliding the other way and taking the Nasdaq with it.

Apple stock dropped more than $25 on Monday, its fifth straight day of declines. The losing streak has wiped out about $60 billion of Apple's market value. That's more than the most optimistic projections of the value of Facebook.

Apple helped push the Nasdaq composite index down 22.93 points on Monday to 2,988.40. The index is now up about 15 percent for the year after almost reaching 20 percent by the end of March.

"It's been a very quirky market because it's been a few companies that have delivered most of the rally this year," said Mark Lamkin, CEO of Lamkin Wealth Management in Louisville, Ky. "It's not been a broad-based rally."

Apple, still the most valuable company in the world, accounts for 12 percent of the Nasdaq, more than any other stock. It has been on an almost uninterrupted climb for three years, powered by its hot iPhones and iPads.

But last week, a veteran technology analyst boldly issued a downgrade for Apple. He predicted that cellphone companies would probably stop offering such generous subsidies for customers to adopt the iPhone.

Investors may also be locking in profits and getting out before Apple reports earnings April 24. Even after the five-day decline, Apple stock is up 43 percent for the year.

The NYSE DOW closed HIGHER ▲ 71.82 points or ▲ 0.56% Monday, 16 April 2012
Symbol …........Last ......Change.....
Dow_Jones 12,921.41 ▲ 71.82 ▲ 0.56%
Nasdaq___ 2,988.40 ▼ -22.93 ▼ -0.76%
S&P_500__ 1,369.57 ▼ -0.69 ▼ -0.05%
30_Yr_Bond 3.114 ▼ -0.03 ▼ -1.08%

NYSE Volume 3,574,780,250
Nasdaq Volume 1,611,224,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,666.28 ▼ -44.18 ▼ -0.77%
DAX_____ 6,625.19 ▲ 41.29 ▲ 0.63%
CAC_40__ 3,205.28 ▲ 16.19 ▲ 0.51%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,382.50 ▼ -21.70 ▼ -0.49%
Shanghai_Comp 2,357.03 ▼ -2.13 ▼ -0.09%
Taiwan_Weight 7,729.86 ▼ -58.41 ▼ -0.75%
Nikkei_225____ 9,470.64 ▼ -167.35 ▼ -1.74%
Hang_Seng____ 20,610.64 ▲ 53.93 ▼ -0.44%
Strait_Times___ 2,992.12 ▲ 4.30 ▲ 0.14%

http://finance.yahoo.com/news/apple-weighs-nasdaq-dow-climbs-211012408.html

Apple weighs on Nasdaq; Dow climbs 72

Apple weighs down the Nasdaq on a day when stocks are mostly flat

By Christina Rexrode,

NEW YORK (AP) -- For most of the year, Apple has propelled the Nasdaq composite index forward. The stock climbed from $405 at the start of the year to more than $630 last week, and the Nasdaq easily beat the gains of other indexes.

Now Apple is sliding the other way and taking the Nasdaq with it.

Apple stock dropped more than $25 on Monday, its fifth straight day of declines. The losing streak has wiped out about $60 billion of Apple's market value. That's more than the most optimistic projections of the value of Facebook.

Apple helped push the Nasdaq composite index down 22.93 points on Monday to 2,988.40. The index is now up about 15 percent for the year after almost reaching 20 percent by the end of March.

"It's been a very quirky market because it's been a few companies that have delivered most of the rally this year," said Mark Lamkin, CEO of Lamkin Wealth Management in Louisville, Ky. "It's not been a broad-based rally."

Apple, still the most valuable company in the world, accounts for 12 percent of the Nasdaq, more than any other stock. It has been on an almost uninterrupted climb for three years, powered by its hot iPhones and iPads.

But last week, a veteran technology analyst boldly issued a downgrade for Apple. He predicted that cellphone companies would probably stop offering such generous subsidies for customers to adopt the iPhone.

Investors may also be locking in profits and getting out before Apple reports earnings April 24. Even after the five-day decline, Apple stock is up 43 percent for the year.

"It's had a huge run," said Burt White, chief investment officer of LPL Financial in Boston. "Some investors probably said, 'Might as well take some profits.'"

The broader stock market was flat, helped by strong March retail sales but hurt by continuing concerns about rising borrowing costs for debt-troubled Spain. The Standard & Poor's 500 index dropped 0.69 point to 1,369.57.

Apple dragged down other technology stocks, which fell more than any other industry group in the S&P. Google, which went to trial Monday against Oracle in a copyright case over the Android phone, dropped for the second day in a row.

Utility stocks and banks rose, while energy companies and so-called consumer discretionary stocks fell.

The Dow Jones industrial average rose 71.82 points to 12,921.41, a gain of 0.6 percent. All but six of the 30 stocks that make up the Dow rose for the day, explaining why it rose while the S&P was flat. Apple is not part of the Dow.

The government reported that retail sales rose 0.8 percent compared to the previous month, twice what analysts had been expecting. Skeptics noted that was less than February's 1 percent increase.

They also wondered whether the buying was just a result of the mild winter, rather than a sign of recovery: If people are buying lawn mowers and other warm-weather goods now, then they probably won't be later in the year. Building materials and garden equipment enjoyed the biggest jump in March.

"It's nice to see the retail sales were strong, but it's one month and it's one data point and it's not even the biggest data point," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati. "Honestly, jobs are much more important."

Earlier this month, the government reported that the U.S. added 120,000 jobs in March, about half the pace of the previous three months.

Spain's borrowing costs climbed above the closely watched 6 percent mark as investors grew more worried about the country's ability to pay its debts. Seven percent is the rate at which other European countries have been forced to seek bailouts. Sweden cut its economic forecast for the year, saying that problems elsewhere in Europe were spreading its way.

The yield on the 10-year Treasury note was steady at 1.98 percent.

Among stocks making moves:

”” Mattel plummeted more than 9 percent after reporting a 53 percent drop in first-quarter earnings. The country's largest toy maker is wrestling with lower sales of Hot Wheels and Barbies. It just bought HIT Entertainment, the company behind Thomas the Tank Engine and Bob the Builder.

”” Endocyte doubled to $7.62 after reporting that Merck, the world's second-largest drugmaker, will develop and market its experimental cancer drug. Endocyte, based in West Lafayette, Ind., has no products on the market.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks stormed higher Tuesday after promising signals about the profitability of U.S. companies and a strong debt auction by Spain. The Dow Jones industrial average rose for the fourth day in five and posted its biggest gain in a month.

European stocks had their best day in four months after Spain, the latest flashpoint in the European debt crisis, attracted strong investor interest at an auction of two-year debt.

Spain's borrowing costs fell, as measured by the yields on Spanish bonds being traded in the market. In recent days, those yields had risen closer to levels that might force Spain to seek an international bailout.

"There's no doubt that gave the market a second wind," Anthony Chan, chief economist with J.P. Morgan Private Wealth management, said of the debt auction. "The market is reassessing and feeling a little better."

The Dow Jones industrial average closed up 194.13 points, or 1.5 percent, at 13,115.54. It was up as much as 210 points Tuesday afternoon. The Dow has had only one 200-point rise this year, a gain of 218 points on March 13.

First-quarter results have begun to pour in from companies, and traders have been impressed so far. On Tuesday, Coca-Cola said its first-quarter profit was better than Wall Street analysts had forecast. Goldman Sachs and Johnson & Johnson also posted strong results

The NYSE DOW closed HIGHER ▲ 194.13 points or ▲ 1.50% Tuesday, 17 April 2012
Symbol …........Last ......Change.....
Dow_Jones 13,115.54 ▲ 194.13 ▲ 1.50%
Nasdaq___ 3,042.82 ▲ 54.42 ▲ 1.82%
S&P_500__ 1,390.78 ▲ 21.21 ▲ 1.55%
30_Yr_Bond 3.155 ▲ 0.04 ▲ 1.32%

NYSE Volume 3,429,460,500
Nasdaq Volume 1,563,969,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,766.95 ▲ 100.67 ▲ 1.78%
DAX_____ 6,801.00 ▲ 175.81 ▲ 2.65%
CAC_40__ 3,292.51 ▲ 87.23 ▲ 2.72%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,368.80 ▼ -13.70 ▼ -0.31%
Shanghai_Comp 2,334.98 ▼ -22.04 ▼ -0.94%
Taiwan_Weight 7,585.87 ▼ -143.99 ▼ -1.86%
Nikkei_225____ 9,464.71 ▼ -5.93 ▼ -0.06%
Hang_Seng____ 20,562.31 ▲ 53.93 ▼ -0.23%
Strait_Times___ 2,986.59 ▼ -5.53 ▼ -0.18%
NZX 50 Index ____ 3,480.54 ▲ 7.04 ▲ 0.20%

http://finance.yahoo.com/news/us-stocks-jump-strong-profits-201136569.html

US stocks jump after strong profits; Spain soothes

Dow rises sharply as strong earnings boost stocks; Spain reassures investors with debt auction

By Daniel Wagner, AP Business Writer

Stocks stormed higher Tuesday after promising signals about the profitability of U.S. companies and a strong debt auction by Spain. The Dow Jones industrial average rose for the fourth day in five and posted its biggest gain in a month.

European stocks had their best day in four months after Spain, the latest flashpoint in the European debt crisis, attracted strong investor interest at an auction of two-year debt.

Spain's borrowing costs fell, as measured by the yields on Spanish bonds being traded in the market. In recent days, those yields had risen closer to levels that might force Spain to seek an international bailout.

"There's no doubt that gave the market a second wind," Anthony Chan, chief economist with J.P. Morgan Private Wealth management, said of the debt auction. "The market is reassessing and feeling a little better."

The Dow Jones industrial average closed up 194.13 points, or 1.5 percent, at 13,115.54. It was up as much as 210 points Tuesday afternoon. The Dow has had only one 200-point rise this year, a gain of 218 points on March 13.

First-quarter results have begun to pour in from companies, and traders have been impressed so far. On Tuesday, Coca-Cola said its first-quarter profit was better than Wall Street analysts had forecast. Goldman Sachs and Johnson & Johnson also posted strong results.

"This earnings season, expectations were low, and it's going to be easy to beat that," said Doreen Mogavero, a floor broker at the New York Stock Exchange and founder and CEO of Mogavero Lee & Co. Inc., a small brokerage of stocks for institutional clients.

After nine straight quarters of growth, earnings for companies in the S&P 500 index were expected to be roughly flat for the first quarter. The slowdown was expected because of global threats from Europe and China and the difficulty of beating double-digit gains in recent quarters.

"They talked earnings down for three weeks ahead of the announcements," agreed Kenneth Polcari, a floor broker and managing director with the giant brokerage ICAP Equities. "They've lowered the bar so much that when the announcements come in, it's like, 'Look how good everyone is doing,'" he said.

While stocks have not returned to the lurching moves of last summer, the market has been more volatile in April than it was in January, February and March.

In the first quarter, while stocks rose smoothly, there were only six days on which the Dow rose or fell by 100 points. There have been six more in just 11 trading days in April.

Traders said the market is growing more volatile in part because the number of shares traded remains relatively low. About 3.44 billion shares of NYSE-listed stocks were traded on Monday.

"There's so little volume these days that some movement in any direction is going to be exaggerated by not as many people trading as you'd like to see," said Michael Guli, director of Knight Capital Americas, an international financial services company.

Indexes move more sharply when volumes are low because the action is driven by a handful of short-term traders, rather than by big movements of money managed by institutional asset managers, Polcari said.

"If you had real asset managers playing, you'd see volume exploding, and you're not seeing it. The lack of participation by big asset managers is letting the day traders and high-frequency trading guys drive the market and create the volatility," he said.

Conflicting information about the U.S. economy and Europe's debt crisis adds to the volatility, Policari added. "Just as the market is up 20 points today, you could just as easily see it down by 20 points tomorrow," he said, referring to movements in the Standard & Poor's 500 index.

The S&P 500 gained 21.21 points, or 1.6 percent, to 1,390.78. All 10 of its industry groups rose ”” nine of them by more than 1 percent.

Utilities rose only 0.6 percent. Those stocks offer modest, stable returns in periods of weak growth but tend to suffer when the economy rebounds.

Coke stock leapt 2.1 percent. Traders did not appear as impressed by Goldman Sachs and Johnson & Johnson. J&J edged higher, while Goldman fell three-fourths of a percent.

Chan warned against judging the quarter based on the small number of companies that have reported at this early stage.

The Nasdaq composite index soared 54.42 points, or 1.8 percent, to 3,042.82. Apple, the most valuable company by market value, rose 5.1 percent after five straight days of losses that wiped out about $60 billion in market value.

In Spain early Tuesday, the government sold more than €3.2 billion ($4.2 billion) in short-term debt, more than had been expected. The yield on Spain's 10-year government bond fell to 5.88 percent from 6.10 percent early Monday, a sign of improving confidence in the country's finances.

The cost of insuring Spanish debt against default fell back from a record high, another sign that the auction reassured bond investors. The cost of insuring €10 million in Spanish debt for five years had soared to €522,000 per year on Monday. After Tuesday's auction, it fell to €489,000.

Italy's benchmark stock index rose 3.7 percent. France's and Germany's gained 2.7 percent. The broad STOXX 50 index of European shares rose 2 percent, the most since November.

In the United States, the rally followed a batch of mixed economic news. The number of permits requested by homebuilders for future projects reached a 3 ½-year high, an indication that the housing market might stop weighing down the economy. But builders broke ground on homes at a slower pace in March.

Factory output fell after four strong months of gains.

Among the other companies that reported earnings:

”” Forest Laboratories Inc. rose 4 percent after it weathered competition from generic drug makers better than analysts had expected.

”” Regional bank Comerica Inc. gained 3.5 percent after improving credit conditions limited its loan losses and allowed it to increase lending.

 

[bigdog]

Source: http://finance.yahoo.com

It hardly needed it, but the U.S. stock market on Wednesday got another reminder of how its fortunes are inexorably tied to the European economy.

All three major U.S. stock indexes sank after a dismal report about bad loans on the books of Spanish banks. The day before, U.S. stocks had soared after Spain held a successful auction of 2-year bonds.

The results underscored how the stock market can whipsaw on even incremental news out of Europe, and it has done just that for the past couple of weeks. In the 12 trading days of the second quarter so far, the Dow has fallen by triple digits four times, with Europe as a notable factor. Twice, it has risen by that same proportion.

It's not just the news itself, which can vary from hopeful to horrific and back again in just a couple of days. It's that investors have been inconsistent in how they react, sometimes shrugging off what seems like significant developments and at other times seizing on what seems piecemeal.

It's a time when "one headline can get you to change your mind," said Gary Flam, portfolio manager at Bel Air Investment Advisors in Los Angeles. "When you go from one day being concerned about Spain to the next day, 'Oh, they had a good auction,' that's a lack of conviction," meaning investors aren't sure what to think.

The market "is really difficult to classify" at the moment, added Mike Schenk, senior economist at the Credit Union National Association, a trade group. "On one hand you hear about 'best day since whatever,' on the other hand you have days and weeks that don't look good at all."

The Dow Jones industrial average fell 82.79 points to 13,032.75. That was a U-turn from Tuesday's gain of 194 points.

The euro fell and Treasury prices rose as nervous investors looked for safe places to store their money. The yield on the 10-year Treasury note fell back below 2 percent and was 1.98 percent in afternoon trading

The NYSE DOW closed LOWER ▼ -82.79 points or ▼ -0.63% Wednesday, 18 April 2012
Symbol …........Last ......Change.....
Dow_Jones 13,032.75 ▼ -82.79 ▼ -0.63%
Nasdaq___ 3,031.45 ▼ -11.37 ▼ -0.37%
S&P_500__ 1,385.14 ▼ -5.64 ▼ -0.41%
30_Yr_Bond 3.126 ▼ -0.03 ▼ -0.92%

NYSE Volume 3,463,141,500
Nasdaq Volume 1,625,962,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,745.29 ▼ -21.66 ▼ -0.38%
DAX_____ 6,732.03 ▼ -68.97 ▼ -1.01%
CAC_40__ 3,240.29 ▼ -52.22 ▼ -1.59%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,427.20 ▲ 58.40 ▲ 1.34%
Shanghai_Comp 2,380.85 ▲ 45.86 ▲ 1.96%
Taiwan_Weight 7,605.00 ▲ 19.13 ▲ 0.25%
Nikkei_225____ 9,667.26 ▲ 202.55 ▲ 2.14%
Hang_Seng____ 20,780.73 ▲ 53.93 ▲ 1.06%
Strait_Times___ 3,000.58 ▲ 13.99 ▲ 0.47%
NZX 50 Index__ 3,522.76 ▲ 42.22 ▲ 1.21%

http://finance.yahoo.com/news/europ...RzZWMDbWl0X3NoYXJlBHNsawNtYWlsBHRlc3QD;_ylv=3

Europe weighs heavily on US stock market

US stocks dip, a day after big gains, as news from across the ocean unnerves investors

By Christina Rexrode, AP Business Writer

NEW YORK (AP) -- It hardly needed it, but the U.S. stock market on Wednesday got another reminder of how its fortunes are inexorably tied to the European economy.

All three major U.S. stock indexes sank after a dismal report about bad loans on the books of Spanish banks. The day before, U.S. stocks had soared after Spain held a successful auction of 2-year bonds.

The results underscored how the stock market can whipsaw on even incremental news out of Europe, and it has done just that for the past couple of weeks. In the 12 trading days of the second quarter so far, the Dow has fallen by triple digits four times, with Europe as a notable factor. Twice, it has risen by that same proportion.

It's not just the news itself, which can vary from hopeful to horrific and back again in just a couple of days. It's that investors have been inconsistent in how they react, sometimes shrugging off what seems like significant developments and at other times seizing on what seems piecemeal.

It's a time when "one headline can get you to change your mind," said Gary Flam, portfolio manager at Bel Air Investment Advisors in Los Angeles. "When you go from one day being concerned about Spain to the next day, 'Oh, they had a good auction,' that's a lack of conviction," meaning investors aren't sure what to think.

The market "is really difficult to classify" at the moment, added Mike Schenk, senior economist at the Credit Union National Association, a trade group. "On one hand you hear about 'best day since whatever,' on the other hand you have days and weeks that don't look good at all."

The Dow Jones industrial average fell 82.79 points to 13,032.75. That was a U-turn from Tuesday's gain of 194 points.

The euro fell and Treasury prices rose as nervous investors looked for safe places to store their money. The yield on the 10-year Treasury note fell back below 2 percent and was 1.98 percent in afternoon trading.

A flood of first-quarter earnings also influenced the market in temperamental ways. Of the S&P 500 companies to report earnings so far, 78 percent have recorded per-share earnings that beat analysts' estimates, according to FactSet senior earnings analyst John Butters. But that hasn't always been enough to lift their share prices. IBM and Intel beat estimates late Tuesday but fell the most in the Dow on Wednesday because investors were disappointed by flat revenue. St. Jude Medical and money manager BlackRock also beat estimates but their stocks fell anyway.

The Standard & Poor's 500 fell 5.64 points to 1,385.14 and the Nasdaq composite index fell 11.37 points to 3,031.45. The declines come after a stellar first quarter, when the Dow and the S&P 500 both recorded their best openings to the year since 1998.

To be sure, the European debt crisis isn't new. But Wednesday brought fresh reminders that the situation is impossible to predict.

The International Monetary Fund issued an unsettling report saying banks could cut back significantly on lending to preserve capital. A Dutch bank refused to give a break to Greece's Hellenic Railway Organization and Athens' metro on money they owe, underscoring how difficult it will be for indebted countries to hammer out rescue agreements when there are so many competing interests to please. And a leader of the European Union slammed the 27 member countries, scolding them for administrative barriers that keep them from sharing workers and resources and potentially endangers any recovery.

"We don't have clarity there, we don't know what's going to happen, and we don't know if things don't go our way what the ramifications will be," Schenk said. "You and I and the rest of the investment world will continue to worry about uncertainty and volatility for a good while."

Spain reported that the proportion of bad loans at its banks has risen to an 18-year high, and its benchmark stock index fell 4 percent.

For all the headlines that the Greek crisis generated, Spain is potentially a much bigger problem. Greece makes up about 2 percent of the gross domestic product of the 17 countries that use the euro, but Spain makes up 11 percent. Its problems also raise questions about how far the crisis will spread.

"If you see deterioration in Spain, you've got to ask yourself, 'What happens with Portugal? What happens with Italy?'" said Quincy Krosby, market strategist for Prudential Financial.

Investors will be closely watching Spain's sale of 10-year bonds Thursday. Those results could drive the market for the rest of the week.

Excluding Greece, major European markets fell. That was a reversal from the previous day, when Spain's bond auction sent European stocks storming to their best day in four months.

Britain's benchmark index fell 0.4 percent after the Bank of England hinted that it doesn't plan to extend its bond-buying program, which essentially pumps money into the economy and is meant to lift stock prices. Similar revelations from the Federal Reserve have hurt the U.S. market.

In Germany, a relative stalwart among countries that use the euro, there was strong interest in a sale of 2-year government bonds. Though that could be construed as good news for Germany, it's also a sign that investors are nervous about the region's economy. People tend to plow their money into safe-haven bonds when they don't have much confidence in stocks.

Among other stocks making big moves:

—U.S.-listed shares of YPF, the energy company seized by the Argentine government, plunged nearly 33 percent.

— Halliburton, the oil services company, rose more than 4 percent after posting a 23 percent jump in first-quarter profits.

— Yahoo rose more than 3 percent after reporting late Tuesday that it had notched a year-over-year increase in quarterly revenue for the first time since 2008.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks drop on mixed news on profits, economy

Stocks drop for a second day as investors weigh higher earnings against weak economic reports

A slew of U.S. companies announced big profits Thursday, but investors spooked about the economy sold stocks anyway.

Investors shifted between buying and selling early Thursday, then stuck with selling after deciding that strong earnings results weren't enough to make up for weak reports on jobs, housing and manufacturing.

The Dow Jones industrial average fell 68.65 points, or 0.5 percent, to close at 12,964.10. The broader Standard & Poor's 500 index dropped 8.22 points, or 0.6 percent, to 1,376.92.

Morgan Stanley rose 2.3 percent after it beat Wall Street's earnings and revenue estimates. UnitedHealth Group Inc. rose 2.4 percent after reporting higher profits. EBay, Southwest Airlines and Bank of America also beat forecasts.

Stock indexes fell after two relatively weak economic reports came out mid-morning. An index of regional manufacturing compiled by the Philadelphia branch of the Federal Reserve dropped sharply, and the National Association of Realtors said home sales fell 2.6 percent last month.

Earlier, the Labor Department said applications for unemployment benefits dipped 2,000 to 386,000. When the number is above 375,000, investors take it as a sign that hiring isn't strong enough to lower the unemployment rate.

"None of these (reports) were disastrous, but they're not as strong as we like to see," said Brian Lazorishak, a portfolio manager at Chase Investment Counsel in Charlottesville, Va.

In other trading, the Nasdaq composite fell 23.89 points, or 0.8 percent, to 3,007.56. Tech stocks could be in for some gains Friday following a strong earnings report after the closing bell Thursday from Microsoft. The software maker was up 2.8 percent in post-market trading after reporting a rise in sales of its Windows operating system.

Thursday's slide began from the start of trading. Investors were on edge after stocks fell a day earlier on worries that Spain could have trouble paying down its government debt. Adding to the jitters, the Bank of Spain had reported that bad loans at the country's banks had hit an 18-year high.

Before the opening bell Thursday, investors were nervously watching a sale of new government bonds from Spain. The auction met with high demand, and more bonds were sold than expected, but yields rose anyway.

The NYSE DOW closed LOWER ▼ -68.65 points or ▼ -0.53% Thursday, 19 April 2012
Symbol …........Last ......Change.....
Dow_Jones 12,964.10 ▼ -68.65 ▼ -0.53%
Nasdaq___ 3,007.56 ▼ -23.89 ▼ -0.79%
S&P_500__ 1,376.92 ▼ -8.22 ▼ -0.59%
30_Yr_Bond 3.109 ▼ -0.02 ▼ -0.54%

NYSE Volume 4,180,027,000
Nasdaq Volume 2,001,596,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,744.55 ▼ -0.74 ▼ -0.01%
DAX_____ 6,671.22 ▼ -60.81 ▼ -0.90%
CAC_40__ 3,174.02 ▼ -66.27 ▼ -2.05%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,441.30 ▲ 14.10 ▲ 0.32%
Shanghai_Comp 2,378.63 ▼ -2.21 ▼ -0.09%
Taiwan_Weight 7,622.69 ▲ 17.69 ▲ 0.23%
Nikkei_225____ 9,588.38 ▼ -78.88 ▼ -0.82%
Hang_Seng____ 20,995.01 ▲ 53.93 ▲ 1.03%
Strait_Times___ 3,006.39 ▲ 5.81 ▲ 0.19%
NZX 50 Index__ 3,525.19 ▲ 2.43 ▲ 0.07%

http://finance.yahoo.com/news/stocks-drop-mixed-news-profits-210742618.html

Stocks drop on mixed news on profits, economy

Stocks drop for a second day as investors weigh higher earnings against weak economic reports

By Bernard Condon, AP Business Writer

A slew of U.S. companies announced big profits Thursday, but investors spooked about the economy sold stocks anyway.

Investors shifted between buying and selling early Thursday, then stuck with selling after deciding that strong earnings results weren't enough to make up for weak reports on jobs, housing and manufacturing.

The Dow Jones industrial average fell 68.65 points, or 0.5 percent, to close at 12,964.10. The broader Standard & Poor's 500 index dropped 8.22 points, or 0.6 percent, to 1,376.92.

Morgan Stanley rose 2.3 percent after it beat Wall Street's earnings and revenue estimates. UnitedHealth Group Inc. rose 2.4 percent after reporting higher profits. EBay, Southwest Airlines and Bank of America also beat forecasts.

Stock indexes fell after two relatively weak economic reports came out mid-morning. An index of regional manufacturing compiled by the Philadelphia branch of the Federal Reserve dropped sharply, and the National Association of Realtors said home sales fell 2.6 percent last month.

Earlier, the Labor Department said applications for unemployment benefits dipped 2,000 to 386,000. When the number is above 375,000, investors take it as a sign that hiring isn't strong enough to lower the unemployment rate.

"None of these (reports) were disastrous, but they're not as strong as we like to see," said Brian Lazorishak, a portfolio manager at Chase Investment Counsel in Charlottesville, Va.

In other trading, the Nasdaq composite fell 23.89 points, or 0.8 percent, to 3,007.56. Tech stocks could be in for some gains Friday following a strong earnings report after the closing bell Thursday from Microsoft. The software maker was up 2.8 percent in post-market trading after reporting a rise in sales of its Windows operating system.

Thursday's slide began from the start of trading. Investors were on edge after stocks fell a day earlier on worries that Spain could have trouble paying down its government debt. Adding to the jitters, the Bank of Spain had reported that bad loans at the country's banks had hit an 18-year high.

Before the opening bell Thursday, investors were nervously watching a sale of new government bonds from Spain. The auction met with high demand, and more bonds were sold than expected, but yields rose anyway.

The yield on Spanish 10-year notes rose to 5.87 percent, an increase of 0.06 percentage point.

European markets mostly fell. Spain's IBEX index fell 2.4 percent, Greece's main index 1.8 percent and France's CAC-40 fell 2 percent.

All but three of the 30 stocks in the Dow fell. Companies whose profits are more closely tied to the economic cycle fell the most. Alcoa, an aluminum maker, and DuPont, a chemicals company, lost more than 1 percent each.

Travelers, an insurer, rose 4.3 percent after a strong earnings report.

Eight of the ten industry sectors in the S&P 500 fell. The biggest losers were industrial and information technology stocks, down more than 1 percent each.

Uri Landesman, president of hedge fund Platinum Partners, said the good earnings are a bit of a sideshow. "There are bigger things at work here — European fears, unemployment," he said. "People are more worried about what's going to happen than what's in the rearview mirror."

Stocks started drifting lower after noon. By mid-afternoon the Dow was down 136 points. The S&P 500 was hit by a drop in Apple.

The iPhone maker dropped 3.4 percent to $587. Some analysts think the stock's recent drop reflects investors taking profits after a big run-up. Others think the fall is more ominous, perhaps a signal that the company will sell fewer iPhones than expected.

In other corporate news, Tumi Holdings, a maker of high-end luggage, jumped 47 percent to $26.50 on its first day of trading.

The U.S.-listed shares of cell phone maker Nokia sank 3.8 percent after the Finnish company reported a loss for the first three months of the year and a 40 percent plunge in device sales. The company faces fierce competition from Apple's iPhone and handset makers that use Google's Android software.

Human Genome Sciences doubled to $14.17 after the company spurned a takeover offer from GlaxoSmithKline of $13 per share, saying it undervalues the company. The biotech drug maker, which produces the lupus treatment Benlysta, said it would consider other options including a sale of the company.

 

[bigdog]

Source: http://finance.yahoo.com

Stronger profits from Microsoft, McDonald's and other major U.S. corporations pushed stocks higher Friday. Optimism from Europe helped brighten the mood.

The Dow Jones industrial average and the Standard & Poor's 500 index had a winning week for the first time this month.

"There's been a wrestling match all week long between strong earnings and weak economic data," said Lawrence Creatura, a portfolio manager at Federated Investors, the money-management firm. "At the moment, earnings are winning."

Before the market opened, McDonald's posted better quarterly profits, buoyed by warm weather and sales of new menu items like Chicken McBites and oatmeal. Sales picked up even in Europe, McDonald's' biggest market, despite economic turmoil and severe weather.

Microsoft beat analysts' projections with quarterly earnings and revenue, and sales in its Windows division were surprisingly strong. And General Electric posted a profit of more than $3 billion, helped by orders for locomotives, aircraft engines and other equipment.

The Dow rose 65.16 points to close at 13,029.26. The S&P 500 added 1.61 points to 1,378.53.

Corporate earnings results have provided a pleasant surprise, said Sam Stovall, chief equity strategist at S&P Capital IQ. After nine straight quarters of growth, earnings for S&P 500 companies were expected to be nearly flat. But eight of every 10 companies that have reported so far, including Coca-Cola and IBM, have beaten estimates. As a result, first-quarter earnings are now projected to rise 4.4 percent, according to S&P.

In Europe, Germany's DAX rose 1.2 percent, and stock indexes in France and Spain were higher. A closely watched survey in Germany, the continent's economic powerhouse, showed business optimism rising for the sixth straight month. Economists had expected a decline.

In other U.S. trading, Apple sank 2.5 percent, helping to tug the Nasdaq composite index down 7.11 points to 3,000.45. Apple, the most valuable company in the world, accounts for 12 percent of the Nasdaq.

The Dow gained 1.4 percent this week, and the S&P 500 index 0.6 percent. But it wasn't a smooth ride. Better earnings reports and higher retail sales helped drive the stock market up to start the week. The Dow rose 194 points on Tuesday, its best day in more than a month.

The NYSE DOW closed HIGHER ▲ 65.16 points or ▲ 0.50% Friday, 20 April 2012
Symbol …........Last ......Change.....
Dow_Jones 13,029.26 ▲ 65.16 ▲ 0.50%
Nasdaq___ 3,000.45 ▼ -7.11 ▼ -0.24%
S&P_500__ 1,378.53 ▲ 1.61 ▲ 0.12%
30_Yr_Bond 3.128 ▲ 0.02 ▲ 0.61%

NYSE Volume 3,799,861,750
Nasdaq Volume 1,934,940,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,772.15 ▲ 27.60 ▲ 0.48%
DAX_____ 6,750.12 ▲ 78.90 ▲ 1.18%
CAC_40__ 3,188.58 ▲ 14.56 ▲ 0.46%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,444.40 ▲ 3.10 ▲ 0.07%
Shanghai_Comp 2,406.86 ▲ 28.23 ▲ 1.19%
Taiwan_Weight 7,507.15 ▼ -115.54 ▼ -1.52%
Nikkei_225____ 9,561.36 ▼ -27.02 ▼ -0.28%
Hang_Seng____ 21,010.64 ▲ 53.93 ▲ 0.07%
Strait_Times___ 2,994.48 ▼ -13.73 ▼ -0.46%
NZX 50 Index__ 3,516.23 ▼ -8.96 ▼ -0.25%

http://au.finance.yahoo.com/news/first-winning-week-april-stocks-203928258.html

First winning week of April for stocks

Stocks have first winning week of April as earnings win 'wrestling match' with economic data

By Matthew Craft, AP Business Writer

Stronger profits from Microsoft, McDonald's and other major U.S. corporations pushed stocks higher Friday. Optimism from Europe helped brighten the mood.

The Dow Jones industrial average and the Standard & Poor's 500 index had a winning week for the first time this month.

"There's been a wrestling match all week long between strong earnings and weak economic data," said Lawrence Creatura, a portfolio manager at Federated Investors, the money-management firm. "At the moment, earnings are winning."

Before the market opened, McDonald's posted better quarterly profits, buoyed by warm weather and sales of new menu items like Chicken McBites and oatmeal. Sales picked up even in Europe, McDonald's' biggest market, despite economic turmoil and severe weather.

Microsoft beat analysts' projections with quarterly earnings and revenue, and sales in its Windows division were surprisingly strong. And General Electric posted a profit of more than $3 billion, helped by orders for locomotives, aircraft engines and other equipment.

The Dow rose 65.16 points to close at 13,029.26. The S&P 500 added 1.61 points to 1,378.53.

Corporate earnings results have provided a pleasant surprise, said Sam Stovall, chief equity strategist at S&P Capital IQ. After nine straight quarters of growth, earnings for S&P 500 companies were expected to be nearly flat. But eight of every 10 companies that have reported so far, including Coca-Cola and IBM, have beaten estimates. As a result, first-quarter earnings are now projected to rise 4.4 percent, according to S&P.

In Europe, Germany's DAX rose 1.2 percent, and stock indexes in France and Spain were higher. A closely watched survey in Germany, the continent's economic powerhouse, showed business optimism rising for the sixth straight month. Economists had expected a decline.

In other U.S. trading, Apple sank 2.5 percent, helping to tug the Nasdaq composite index down 7.11 points to 3,000.45. Apple, the most valuable company in the world, accounts for 12 percent of the Nasdaq.

The Dow gained 1.4 percent this week, and the S&P 500 index 0.6 percent. But it wasn't a smooth ride. Better earnings reports and higher retail sales helped drive the stock market up to start the week. The Dow rose 194 points on Tuesday, its best day in more than a month.

Then worries about Europe came storming back. Markets reversed course Wednesday, after the Bank of Spain said that the amount of bad loans held by Spanish banks rose to an 18-year high.

If those banks falter, it would put pressure on Spain's already troubled government to prop them up. Weak reports on jobs, housing and manufacturing in the U.S. added to the selling pressure, and the Dow slumped 151 points in two days.

"It's been like the weather here in upstate New York — unpredictable," Creatura said. "One day is up, the next day is down."

The encouraging news out of Germany helped drive oil prices up Friday. Benchmark U.S. crude rose 78 cents to finish at $103.05 per barrel in New York. Brent crude, widely used by U.S. refiners to produce gasoline, added 76 cents to $118.76 in London.

Among stocks making big moves in the United States:

— Oil services giant Schlumberger Ltd. rose 3 percent. The company's quarterly profits jumped almost 38 percent as strong drilling activity in the Gulf of Mexico and the Middle East offset a slowdown in North America's natural gas fields. Schlumberger said that world oil demand appears to have "stabilized" and that the risk of a double-dip recession has declined.

— E-Trade Financial Corp. jumped 6 percent, the largest gain in the S&P 500. The online broker reported a 40 percent jump in first-quarter profit after the close of trading Thursday, beating Wall Street estimates with the help of a big tax benefit.

— SanDisk Corp. plummeted 11 percent, the S&P's biggest loser. The flash memory maker said late Thursday that weak demand and low prices cut its quarterly profit by nearly half. SanDisk warned that it expects the trend to continue.

— Tempur-Pedic International Inc., the mattress maker, plunged 20.6 percent after posting a disappointing full-year earnings forecast. It cited concerns about competition and foreign exchange rates.

4685

 

[bigdog]

Source: http://finance.yahoo.com

US stocks slide on economic tremors from Europe

Stocks fall on European debt worries, disappointing US earnings

A collection of worrying news out of Europe sent stocks sharply lower on Monday.

The Dutch government collapsed Monday, a day after French President Nicolas Sarkozy lost the first round of that country's presidential election. A new report showed that European government debt continues to pile up despite severe budget cuts, which have led to unrest and political upheaval across the continent.

Europe's major stock markets plunged. In the U.S., the Dow Jones industrial average lost 102.09 points to close at 12,927.17. The Dow had dropped as many as 183 points in morning trading then spent the rest of the day climbing back.

"The main concern today is the stability of the euro zone as a whole," said Dan Greenhaus, chief global strategist at the brokerage BTIG.

Figures reported by the European Union's statistics office confirmed the effects of budget-cutting programs on countries that use the euro currency. Even with widespread spending cuts, overall debt rose to 87.2 percent, the highest level since the euro was created. Separately, a survey of the euro zone's manufacturing and services sectors unexpectedly fell in April.

In France, Sarkozy came in second behind Francois Hollande, a harsh critic of the spending cuts prescribed as a way to end the region's debt crisis. Sarkozy and Germany's Chancellor Angela Merkel have been the main architects of Europe's efforts to avoid a collapse of the region's shared currency.

"To the extent that Europe has any leaders, it's very much Merkel and Sarkozy," Greenhaus said. "If Sarkozy were to lose, you'd change the leadership of Europe at arguably the worst possible time."

The Dutch government resigned Monday after it couldn't reach agreement with an opposition party to bring its budget deficit within European Union rules. The budget dispute raised the prospect that the Netherlands could lose its top AAA credit rating.

The NYSE DOW closed LOWER ▼ -102.09 points or ▼ -0.78% Monday, 23 April 2012
Symbol …........Last ......Change.....
Dow_Jones 12,927.17 ▼ -102.09 ▼ -0.78%
Nasdaq___ 2,970.45 ▼ -30.00 ▼ -1.00%
S&P_500__ 1,366.94 ▼ -11.59 ▼ -0.84%
30_Yr_Bond 3.084 ▼ -0.04 ▼ -1.41%

NYSE Volume 3,654,861,500
Nasdaq Volume 1,801,276,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,665.57 ▼ -106.58 ▼ -1.85%
DAX_____ 6,523.00 ▼ -227.12 ▼ -3.36%
CAC_40__ 3,098.37 ▼ -90.21 ▼ -2.83%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,430.30 ▼ -14.10 ▼ -0.32%
Shanghai_Comp 2,388.59 ▼ -18.28 ▼ -0.76%
Taiwan_Weight 7,481.09 ▼ -26.06 ▼ -0.35%
Nikkei_225____ 9,542.17 ▼ -19.19 ▼ -0.20%
Hang_Seng____ 20,624.39 ▲ 53.93 ▼ -1.84%
Strait_Times___ 2,961.18 ▼ -33.30 ▼ -1.11%
NZX 50 Index__ 3,513.45 ▼ -2.78 ▼ -0.08%

http://finance.yahoo.com/news/us-stocks-slide-economic-tremors-134720183.html

US stocks slide on economic tremors from Europe

Stocks fall on European debt worries, disappointing US earnings

By Matthew Craft, AP Business Writer

A collection of worrying news out of Europe sent stocks sharply lower on Monday.

The Dutch government collapsed Monday, a day after French President Nicolas Sarkozy lost the first round of that country's presidential election. A new report showed that European government debt continues to pile up despite severe budget cuts, which have led to unrest and political upheaval across the continent.

Europe's major stock markets plunged. In the U.S., the Dow Jones industrial average lost 102.09 points to close at 12,927.17. The Dow had dropped as many as 183 points in morning trading then spent the rest of the day climbing back.

"The main concern today is the stability of the euro zone as a whole," said Dan Greenhaus, chief global strategist at the brokerage BTIG.

Figures reported by the European Union's statistics office confirmed the effects of budget-cutting programs on countries that use the euro currency. Even with widespread spending cuts, overall debt rose to 87.2 percent, the highest level since the euro was created. Separately, a survey of the euro zone's manufacturing and services sectors unexpectedly fell in April.

In France, Sarkozy came in second behind Francois Hollande, a harsh critic of the spending cuts prescribed as a way to end the region's debt crisis. Sarkozy and Germany's Chancellor Angela Merkel have been the main architects of Europe's efforts to avoid a collapse of the region's shared currency.

"To the extent that Europe has any leaders, it's very much Merkel and Sarkozy," Greenhaus said. "If Sarkozy were to lose, you'd change the leadership of Europe at arguably the worst possible time."

The Dutch government resigned Monday after it couldn't reach agreement with an opposition party to bring its budget deficit within European Union rules. The budget dispute raised the prospect that the Netherlands could lose its top AAA credit rating.

The turmoil roiled Europe's largest markets. Germany's major stock index, the DAX, lost 3.4 percent, its worst day in six weeks. France's CAC-40 index dropped 2.8 percent, wiping away all its gains for the year.

The Standard & Poor's 500 index lost 11.59 points, or 0.8 percent, to 1,366.94.

The Nasdaq composite fell an even 30 points, or 1 percent, to 2,970.45.

Traders shifted money into Treasurys on Monday. The price of the 10-year Treasury note rose, pushing its yield down to 1.94 percent from 1.96 percent late Friday.

David Kelly, chief market strategist at J.P. Morgan Funds, said it looks like investors are looking for a reason to take profits after stocks soared in the first three months of the year. The S&P 500 index rose 12 percent in the first quarter, its best start since 1998. Many investors Kelly talks to see no reason for the market to push higher.

"There's a complete lack of enthusiasm," he said. "And it's making stocks cheap and bonds expensive."

Concerns over Europe pushed the price of West Texas crude oil down 77 cents a barrel to settle at $103.11 per barrel in New York.

Europe's slowing economy also hurt Kellogg Co. The food giant slashed its full-year profit forecast, blaming weak sales in the U.S. and Europe. Kellogg's stock dropped 6.1 percent.

After the closing bell, Netflix reported its first quarterly loss in seven years and its stock plunged 13.6 percent in aftermarket trading.

Among other stocks making big moves:

”” Wal-Mart Stores sank 4.7 percent, the biggest drop of the Dow's 30 stocks. A report in The New York Times that said the company shut down an investigation into bribery by executives at its Mexican unit. The retailer said it was investigating for any breach of the U.S Foreign Corrupt Practices Act.

”” Hasbro fell 5.2 percent after posting a first-quarter loss on falling sales and costs tied to cutting jobs. Weak sales of "My Littlest Pet Shop" miniatures and other girl's toys were partly to blame.

””SunTrust Banks rose 2.8 percent after reporting quarterly earnings that beat analysts' estimates. The regional bank said fewer loans went bad and that it made more mortgage and commercial loans.

 

[bigdog]

Source: http://finance.yahoo.com

Strong earnings from AT&T, 3M lift Dow average; nerves about Europe ease after fearsome day

The Dow closed up 74.39 points, or 0.6 percent, at 13,001.56. IBM rose solidly after the company said it is raising its quarterly dividend and plans to repurchase $7 billion more of its stock.

The S&P 500 rose 5.03 points, or 0.4 percent, to 1,371.97.

The Nasdaq composite average fell 8.85 points to 2,961.60. Apple is the Nasdaq's biggest component and the biggest company by market value.

Muscular U.S. corporate earnings and higher spirits in Europe propelled U.S. stocks higher Tuesday.

Five of the 30 big companies that make up the Dow Jones industrial average rose more than 1.5 percent. AT&T led the gains after reporting better-than-expected profit. Verizon, AT&T's main rival, was close behind. 3M rose sharply after delivering an impressive quarterly report. GE and DuPont rounded out the list of top gainers.

Traders punished Apple after AT&T said it activated far fewer of Apple's iPhones. Apple fell two percent, dragging the Nasdaq composite average to a lower close. Apple shares recovered the day's losses several times over in after-hours trading after the company announced another record quarterly profit that easily beat analysts' forecasts.

Chocolate maker Hershey and regional bank Regions Financial helped boost the Standard & Poor's 500 index after both companies outpaced Wall Street's estimates.

Earnings reports are blowing the tops of analysts' expectations, providing temporary relief for markets roiled by fears about Europe, said Sam Stovall, chief equity strategist with financial-data firm S&P Capital IQ. He said analysts had expected only a half-percent profit increase for the S&P 500 this quarter. Based on the results so far, he said, the gain could be ten times bigger.

The NYSE DOW closed HIGHER ▲ 74.39 points or ▲ 0.58% Tuesday, 24 April 2012
Symbol …........Last ......Change.....
Dow_Jones 13,001.56 ▲ 74.39 ▲ 0.58%
Nasdaq___ 2,961.60 ▼ -8.85 ▼ -0.30%
S&P_500__ 1,371.97 ▲ 5.03 ▲ 0.37%
30_Yr_Bond 3.114 ▲ 0.03 ▲ 0.97%

NYSE Volume 3,617,098,250
Nasdaq Volume 1,705,023,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,709.49 ▲ 43.92 ▲ 0.78%
DAX_____ 6,590.41 ▲ 67.41 ▲ 1.03%
CAC_40__ 3,169.32 ▲ 70.95 ▲ 2.29%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,433.90 ▲ 3.60 ▲ 0.08%
Shanghai_Comp 2,388.83 ▲ 0.25 ▲ 0.01%
Taiwan_Weight 7,498.84 ▲ 17.75 ▲ 0.24%
Nikkei_225____ 9,468.04 ▼ -74.13 ▼ -0.78%
Hang_Seng____ 20,677.16 ▲ 53.93 ▲ 0.26%
Strait_Times___ 2,974.37 ▲ 12.02 ▲ 0.41%
NZX 50 Index__ 3,519.86 ▲ 6.41 ▲ 0.18%

http://finance.yahoo.com/news/strong-earnings-t-3m-lift-200932880.html

Strong earnings from AT&T, 3M lift Dow average

Strong earnings from AT&T, 3M lift Dow average; nerves about Europe ease after fearsome day

By Daniel Wagner, AP Business Writer

Muscular U.S. corporate earnings and higher spirits in Europe propelled U.S. stocks higher Tuesday.

Five of the 30 big companies that make up the Dow Jones industrial average rose more than 1.5 percent. AT&T led the gains after reporting better-than-expected profit. Verizon, AT&T's main rival, was close behind. 3M rose sharply after delivering an impressive quarterly report. GE and DuPont rounded out the list of top gainers.

Traders punished Apple after AT&T said it activated far fewer of Apple's iPhones. Apple fell two percent, dragging the Nasdaq composite average to a lower close. Apple shares recovered the day's losses several times over in after-hours trading after the company announced another record quarterly profit that easily beat analysts' forecasts.

Chocolate maker Hershey and regional bank Regions Financial helped boost the Standard & Poor's 500 index after both companies outpaced Wall Street's estimates.

Earnings reports are blowing the tops of analysts' expectations, providing temporary relief for markets roiled by fears about Europe, said Sam Stovall, chief equity strategist with financial-data firm S&P Capital IQ. He said analysts had expected only a half-percent profit increase for the S&P 500 this quarter. Based on the results so far, he said, the gain could be ten times bigger.

"These are legitimately strong results, and in retrospect, the bar was set too low," Stovall said.

The gains for blue chips were broad. Only five Dow components fell, led by Wal-Mart Stores. The world's biggest retailer is reeling from reports over the weekend that top company officials knew about widespread bribery of foreign officials.

European stocks rallied into the close a day after one of their worst drops in months. Monday's sell-off followed fears that deficit-cutting deals by some European nations might unravel.

On Tuesday, as Monday's panicked atmosphere lifted, interest rates on Spanish bonds already in circulation declined. France's CAC-40 index closed up 2.3 percent. Germany's DAX rose one percent, London's FTSE 100 0.8 percent.

Still, there were signs that Europe's troubles persist. Bond investors demanded much higher interest rates from Spain and Italy when they auctioned new debt, suggesting that there is more pain ahead for those debt-strapped countries.

Stovall expects fears about Europe to overshadow earnings results in the coming weeks. After months of strong stock-market gains and little talk about Europe, traders are again nervous that the crisis will boil over, harming the global economy and gumming up the financial system, he said.

"First-quarter earnings are helping to justify the equity market's advance since early October," Stovall said, but "if Europe continues to have its problems, that will outweigh" the corporate earnings news.

Stocks rose consistently from early October through the end of the first quarter on March 31. Trading has since turned volatile. Swings of more than 100 points in the Dow have become common, a contrast to the steady, modest gains of the first three months of the year.

The Dow closed up 74.39 points, or 0.6 percent, at 13,001.56. IBM rose solidly after the company said it is raising its quarterly dividend and plans to repurchase $7 billion more of its stock.

The S&P 500 rose 5.03 points, or 0.4 percent, to 1,371.97.

The Nasdaq composite average fell 8.85 points to 2,961.60. Apple is the Nasdaq's biggest component and the biggest company by market value.

As stocks rose, traders sold ultra-safe Treasurys. The yield on the 10-year Treasury note rose to 1.97 percent from 1.94 percent late Monday.

Among the other U.S. companies swinging on earnings news:

”” Oilfield services contractor Baker Hughes rose 5 percent after its profit exceeded expectations because of strong drilling activity in Africa.

”” Coach fell 4 percent after the maker of high-end leather goods said results in U.S. department stores were weak, despite stronger sales in China.

”” Netflix plunged 14 percent after saying it is adding new subscribers slowly in the second quarter. Investors are nervous about stronger competition from video-streaming rivals such as Amazon.com and Comcast.

A wave of weak U.S. economic data failed to douse the rally for stocks. Sales of new homes fell by 7 percent last month, the biggest decline in a year, the government said after markets opened. Home prices in most major U.S. cities fell in February for a sixth straight month.

Americans' confidence in the economy held steady despite rising gas prices and falling home values, according to the Conference Board, a private research group.

 

[bigdog]

Source: http://finance.yahoo.com

The Nasdaq composite index shot 2 percent higher Wednesday, powered by a surge in Apple. The iPhone maker's stock climbed $50 after the company once again blew past Wall Street's profit forecasts.

With Apple's help, the technology-focused Nasdaq posted its best day this year.

Apple, the biggest component of the index by far, climbed 8.9 percent after reporting that its earnings doubled in the first three months of the year. The company sold 35 million iPhones, twice as many as in the same quarter a year ago.

The surge made back about half of what Apple's stock lost in the two weeks before its earnings announcement late Tuesday. One reason for the slump was an analyst's suggestion that Apple could not keep up the momentum in iPhone sales.

Stock in Apple, the most valuable public company in the world, hit $644 in intraday trading on April 10 and slid as low as $555 on Tuesday.

Apple jumped nearly $50 to $610 on Wednesday. The gain helped power the Nasdaq up 68.03 points to 3,029.63. Apple makes up 12 percent of the Nasdaq.

The Nasdaq rose more than other market indexes thanks to its heavy weighting of Apple shares. The Standard & Poor's 500 index includes Apple; the Dow Jones industrial average doesn't.

The Dow gained 89.16 points to close at 13,090.72, a 0.7 percent increase. The S&P 500 index rose 18.72 points, or 1.4 percent, to 1,390.69. Apple accounts for 4 percent of the S&P 500.

The tech giant joined a growing list of companies that have reported surprisingly strong first-quarter earnings. Through last week, eight out of 10 companies that reported earnings had beat estimates, including Microsoft, IBM and Coca-Cola. Even so, the S&P 500 index is still down 1 percent for the month.

The NYSE DOW closed HIGHER ▲ 89.16 points or ▲ 0.69% Wednesday, 25 April 2012
Symbol …........Last ......Change.....
Dow_Jones 13,090.72 ▲ 89.16 ▲ 0.69%
Nasdaq___ 3,029.63 ▲ 68.03 ▲ 2.30%
S&P_500__ 1,390.69 ▲ 18.72 ▲ 1.36%
30_Yr_Bond 3.146 ▲ 0.03 ▲ 1.03%

NYSE Volume 3,981,392,750
Nasdaq Volume 1,722,672,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,718.89 ▲ 9.40 ▲ 0.16%
DAX_____ 6,704.50 ▲ 114.09 ▲ 1.73%
CAC_40__ 3,233.46 ▲ 64.14 ▲ 2.02%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,433.90 closed for holiday
Shanghai_Comp 2,406.81 ▲ 17.98 ▲ 0.75%
Taiwan_Weight 7,563.18 ▲ 64.34 ▲ 0.86%
Nikkei_225____ 9,561.01 ▲ 92.97 ▲ 0.98%
Hang_Seng____ 20,646.29 ▲ 53.93 ▼ -0.15%
Strait_Times___ 2,980.19 ▲ 5.82 ▲ 0.20%
NZX 50 Index__ 3,519.86 closed for holiday

http://finance.yahoo.com/news/apples-blowout-quarter-propels-nasdaq-142624816.html

Apple's blowout quarter propels Nasdaq to big gain
Associated Press

NEW YORK (AP) -- The Nasdaq composite index shot 2 percent higher Wednesday, powered by a surge in Apple. The iPhone maker's stock climbed $50 after the company once again blew past Wall Street's profit forecasts.

With Apple's help, the technology-focused Nasdaq posted its best day this year.

Apple, the biggest component of the index by far, climbed 8.9 percent after reporting that its earnings doubled in the first three months of the year. The company sold 35 million iPhones, twice as many as in the same quarter a year ago.

The surge made back about half of what Apple's stock lost in the two weeks before its earnings announcement late Tuesday. One reason for the slump was an analyst's suggestion that Apple could not keep up the momentum in iPhone sales.

Stock in Apple, the most valuable public company in the world, hit $644 in intraday trading on April 10 and slid as low as $555 on Tuesday.

Apple jumped nearly $50 to $610 on Wednesday. The gain helped power the Nasdaq up 68.03 points to 3,029.63. Apple makes up 12 percent of the Nasdaq.

The Nasdaq rose more than other market indexes thanks to its heavy weighting of Apple shares. The Standard & Poor's 500 index includes Apple; the Dow Jones industrial average doesn't.

The Dow gained 89.16 points to close at 13,090.72, a 0.7 percent increase. The S&P 500 index rose 18.72 points, or 1.4 percent, to 1,390.69. Apple accounts for 4 percent of the S&P 500.

The tech giant joined a growing list of companies that have reported surprisingly strong first-quarter earnings. Through last week, eight out of 10 companies that reported earnings had beat estimates, including Microsoft, IBM and Coca-Cola. Even so, the S&P 500 index is still down 1 percent for the month.

"Sure, earnings are a lot better than expected, but this looks like a quarter where the market doesn't react to that," said Brian Gendreau, market strategist at Cetera Financial. "I don't think that the positive earnings season we've had is enough to shake this market out of its trading range."

Technology stocks in the S&P 500 gained 3 percent as a group, the best-performing industry in the market. Material and consumer-discretionary companies also had a strong day.

Financial markets barely budged after the Federal Reserve said it would stick with its plan to keep a key short-term interest rate near zero. The Fed detailed no plans to extend its bond-buying program when the current iteration ends in June.

The yield on the 10-year Treasury note increased slightly following the Fed's announcement. Gold prices fell and the dollar inched up against other currencies. Stock indexes stayed where they were.

Some European markets posted strong gains. Benchmark stock indexes rose 3 percent in Italy and 2 percent in France. Germany's market gained 1.7 percent. British shares rose just 0.2 percent following news that the British economy fell back into recession for the first time since 2009.

For Europe, Apple may not be an economic bellwether, but analysts said it's a valuable gauge of confidence in markets.

Among other stocks making moves:

— Boeing rose 5 percent, the best performer among the 30 stocks that make up the Dow. Its first-quarter profit soared 58 percent. Airlines around the world are updating their fleets with more fuel-efficient planes.

— Harley-Davidson jumped 6 percent. U.S. sales of the company's motorcycles soared 26 percent in the first three months of the year, the fourth straight increase. The company credited the gain to a better U.S. economy and a restructuring program the company put in place four years ago.

— Lorillard fell 4 percent after the cigarette maker reported a 10 percent drop in income for the first quarter. The company said higher prices couldn't make up for a fall in sales of its Newport and Maverick cigarettes.

 

[bigdog]

Source: http://finance.yahoo.com

US stocks rise on bright earnings reports and a jump in home sales; problems still loom

On a day that brought both good and bad news about the economy, investors chose to see the glass as half-full.

U.S. stocks edged higher Thursday, pushed up by a batch of bright earnings reports and encouraging news about home sales. In the fight for investors' attention, those upbeat signs muscled out a disappointing report on unemployment claims, mixed results on European markets and weakness at big-name companies like Aetna, UPS and Dow Chemical.

The Dow Jones industrial average rose 113.90 points to 13,204.62. The Standard & Poor's 500 climbed 9.29 points to 1,399.98. The index momentarily flitted above 1,400 in the late afternoon, its first foray past that psychological barrier in three weeks. The Nasdaq composite index rose 20.98 points to 3,050.61.

The National Association of Realtors reported that the number of contracts to buy homes is rising, which pushed up the stocks of home builders like PulteGroup and Lennar. Companies like Lockheed Martin, the aerospace and defense contractor, and Starwood Hotels, which runs chains including Westin and Sheraton, climbed after beating analysts' predictions for first-quarter earnings. Amazon.com rose 1.6 percent during the trading day, then reported much-higher-than-expected earnings after the close. Its stock blasted nearly 14 percent higher around 5 p.m.

Still, investors didn't need to look far to find problems, or at least confusion, looming on the horizon.

In the U.S., the government reported that the number of people seeking unemployment benefits was little changed last week, stoking more uncertainty about when and if companies will return to pre-recession levels of hiring.

The NYSE DOW closed HIGHER ▲ 113.90 points or ▲ 0.87% Thursday, 26 April 2012
Symbol …........Last ......Change.....
Dow_Jones 13,204.62 ▲ 113.90 ▲ 0.87%
Nasdaq___ 3,050.61 ▲ 20.98 ▲ 0.69%
S&P_500__ 1,399.98 ▲ 9.29 ▲ 0.67%
30_Yr_Bond 3.135 ▼ -0.01 ▼ -0.35%

NYSE Volume 4,034,737,000
Nasdaq Volume 1,785,104,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,748.72 ▲ 29.83 ▲ 0.52%
DAX_____ 6,739.90 ▲ 35.40 ▲ 0.53%
CAC_40__ 3,229.32 ▼ -4.14 ▼ -0.13%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,445.00 ▲ 11.10 ▲ 0.25%
Shanghai_Comp 2,404.70 ▼ -2.12 ▼ -0.09%
Taiwan_Weight 7,521.35 ▼ -41.83 ▼ -0.55%
Nikkei_225____ 9,561.83 ▲ 0.82 ▲ 0.01%
Hang_Seng____ 20,809.71 ▲ 53.93 ▲ 0.79%
Strait_Times___ 2,981.47 ▲ 1.69 ▲ 0.06%
NZX 50 Index__ 3,520.82 ▲ 0.97 ▲ 0.03%

http://finance.yahoo.com/news/home-sales-bump-earnings-send-203847421.html

Home sales bump, earnings send stock market higher

US stocks rise on bright earnings reports and a jump in home sales; problems still loom

By Christina Rexrode, AP Business Writer
On a day that brought both good and bad news about the economy, investors chose to see the glass as half-full.

U.S. stocks edged higher Thursday, pushed up by a batch of bright earnings reports and encouraging news about home sales. In the fight for investors' attention, those upbeat signs muscled out a disappointing report on unemployment claims, mixed results on European markets and weakness at big-name companies like Aetna, UPS and Dow Chemical.

The Dow Jones industrial average rose 113.90 points to 13,204.62. The Standard & Poor's 500 climbed 9.29 points to 1,399.98. The index momentarily flitted above 1,400 in the late afternoon, its first foray past that psychological barrier in three weeks. The Nasdaq composite index rose 20.98 points to 3,050.61.

The National Association of Realtors reported that the number of contracts to buy homes is rising, which pushed up the stocks of home builders like PulteGroup and Lennar. Companies like Lockheed Martin, the aerospace and defense contractor, and Starwood Hotels, which runs chains including Westin and Sheraton, climbed after beating analysts' predictions for first-quarter earnings. Amazon.com rose 1.6 percent during the trading day, then reported much-higher-than-expected earnings after the close. Its stock blasted nearly 14 percent higher around 5 p.m.

Still, investors didn't need to look far to find problems, or at least confusion, looming on the horizon.

In the U.S., the government reported that the number of people seeking unemployment benefits was little changed last week, stoking more uncertainty about when and if companies will return to pre-recession levels of hiring.

John De Clue, global investment strategist at U.S. Bank's wealth management business in Minneapolis, was watching the yield on 10-year Italian bonds tick up. That means the Italian government is paying more to persuade investors to hold its bonds, a sign that investors are worried about Italy's ability to repay its debts.

De Clue described the situation in Europe as "two steps forward and one step back."

"Okay, the situation doesn't look as serious as it did back in October," De Clue said. "But it's very difficult to understand what the market looks like with the need for austerity but also the need to avoid a recession."

But Doug Cote, chief market strategist at ING Investment Management in New York, thinks concerns about Europe are overblown. Though the debt crisis isn't solved, he said, the European Central Bank has set up enough safeguards to keep Europe's problems from spilling across the ocean for the near future.

"There's breathing room," Cote said. "I think they get it done no matter what happens with French elections, no matter if the Dutch government dissolves. This is way overplayed."

European markets were mixed. Stock indexes rose in Germany and Britain but fell in Greece, Spain and France. Spain's Banco Santander reported that it set aside more money to cover bad loans, heightening concerns that Spain could join Greece, Ireland and Portugal in asking for a bailout.

U.S. companies' earnings reports also underscored the European problem. Dow Chemical, the nation's largest chemical maker, and UPS, the package delivery company, both fell after citing a cooling down of business in Europe.

Despite those declines, first-quarter earnings reports have been mostly positive. Of the roughly 200 companies on the S&P 500 that have reported earnings, about 80 percent have beat analysts' forecasts, according to calculations by John Butters, senior earnings analyst at the financial data provider FactSet. That's better than the past four quarters, which averaged about 72 percent, he said.

Earnings growth has also come in better than expected. Four weeks ago, analysts had expected year-over-year earnings growth of about 0.1 percent. So far, companies have turned in about 5.9 percent.

To be sure, much of the growth is being driven by a few giant companies. Strip Apple out of the S&P 500, and earnings growth would drop to 3.6 percent, Butters calculates. And banks, which have also turned in strong first-quarter earnings, were helped by one-time items like accounting adjustments.

The past four weeks have been helter-skelter for the market, with indexes waffling between gains and losses. The three major indexes are up for the week so far but down for the second quarter, which started at the beginning of April.

It's a contrast to the relative gaiety of the first three months of the year, when the market charged higher as investors shrugged off the previous year's concerns about Europe and gridlock in Washington over fiscal policy. Now, some of those worries appear to be resurfacing.

Natalie Trunow, chief investment officer of stocks at Calvert Investments in Bethesda, Md., said investors will probably continue to be cautious until they have more clarity on those and other issues.

"We have an election coming up, we have the expiration of the Bush tax cuts and payroll breaks, we have the budget negotiations coming up soon," Trunow said. "All of this is going to give markets indigestion."

 

[bigdog]

Source: http://finance.yahoo.com

For the week, the Dow is up 1.5 percent, the S&P 500 is up 1.8 percent and the Nasdaq is up 2.3 percent.

Dow Jones industrial average turns positive for April; Amazon surges on jump in shipments

It took a while, but the Dow Jones industrial average finally gained back all its losses for the month.

On a day of conflicting signals, as investors weighed disappointing economic news against reports of higher profits at big companies, stocks inched higher. All three major indexes were up Friday, though barely.

The Dow climbed 23.69 points to 13,228.31, a tiny 0.2 percent gain. That was enough to push the index into the black for April. It's now 16 points higher than where it began the month.

The Standard & Poor's 500 edged up 3.38 points, or 0.2 percent, to 1,403.36. The Nasdaq composite rose 18.59 points, or 0.6 percent, to 3,069.20.

Amazon jumped 16 percent after the online retailer reported a big increase in shipments. Online travel agency Expedia Inc. surged 24 percent on higher profits from its hotel-booking business.

Companies in the S&P 500 are now on track to report a 6 percent rise in earnings for the first three months of 2012 compared with a year ago, according to FactSet, a financial data provider. Last month, Wall Street analysts had expected earnings this quarter to be flat.

The stock gains Friday came despite a government report earlier in the day that the U.S. economy grew at annual rate of 2.2 percent, below the 2.5 percent that economist had expected. It grew at a faster rate, 3 percent, in the final three months of 2011.

The NYSE DOW closed HIGHER ▲ 23.69 points or ▲ 0.18% Friday, 27 April 2012
Symbol …........Last ......Change.....
Dow_Jones 13,228.31 ▲ 23.69 ▲ 0.18%
Nasdaq___ 3,069.20 ▲ 18.59 ▲ 0.61%
S&P_500__ 1,403.36 ▲ 3.38 ▲ 0.24%
30_Yr_Bond 3.115 ▼ -0.02 ▼ -0.64%

NYSE Volume 3,663,341,000
Nasdaq Volume 1,807,536,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,777.11 ▲ 28.39 ▲ 0.49%
DAX_____ 6,801.32 ▲ 61.42 ▲ 0.91%
CAC_40__ 3,266.27 ▲ 36.95 ▲ 1.14%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,433.40 ▼ -11.60 ▼ -0.26%
Shanghai_Comp 2,396.32 ▼ -8.38 ▼ -0.35%
Taiwan_Weight 7,480.50 ▼ -40.85 ▼ -0.54%
Nikkei_225____ 9,520.89 ▼ -40.94 ▼ -0.43%
Hang_Seng____ 20,741.45 ▲ 53.93 ▼ -0.33%
Strait_Times___ 2,981.58 ▲ 0.11 ▲ 0.00%
NZX 50 Index__ 3,531.66 ▲ 10.84 ▲ 0.31%

http://news.yahoo.com/dow-regains-ground-lost-april-amazon-surges-210117526--business.html

Dow regains ground it lost in April; Amazon surges

Dow Jones industrial average turns positive for April; Amazon surges on jump in shipments

By Bernard Condon, AP Business Writer

It took a while, but the Dow Jones industrial average finally gained back all its losses for the month.

On a day of conflicting signals, as investors weighed disappointing economic news against reports of higher profits at big companies, stocks inched higher. All three major indexes were up Friday, though barely.

The Dow climbed 23.69 points to 13,228.31, a tiny 0.2 percent gain. That was enough to push the index into the black for April. It's now 16 points higher than where it began the month.

The Standard & Poor's 500 edged up 3.38 points, or 0.2 percent, to 1,403.36. The Nasdaq composite rose 18.59 points, or 0.6 percent, to 3,069.20.

Amazon jumped 16 percent after the online retailer reported a big increase in shipments. Online travel agency Expedia Inc. surged 24 percent on higher profits from its hotel-booking business.

Companies in the S&P 500 are now on track to report a 6 percent rise in earnings for the first three months of 2012 compared with a year ago, according to FactSet, a financial data provider. Last month, Wall Street analysts had expected earnings this quarter to be flat.

The stock gains Friday came despite a government report earlier in the day that the U.S. economy grew at annual rate of 2.2 percent, below the 2.5 percent that economist had expected. It grew at a faster rate, 3 percent, in the final three months of 2011.

David Rosenberg, chief economist at money manager Gluskin Sheff, said investors may have bid up stocks on the weaker report because they now think the Federal Reserve is more likely to embark on another round of bond buying to stimulate the economy.

"(Fed Chairman) Ben Bernanke has created the impression that if the economy stumbles, he'll be there to hold your hand," he said.

European stock markets also rose as investors shrugged off a second downgrade this year by S&P of Spain's debt. Spain also reported its unemployment rate rose to nearly 25 percent, its highest in 18 years.

Spain's IBEX rose 1.7 percent, France's CAC-40 1.1 percent and Germany's DAX 0.9 percent.

However the yields on Spanish and Italian government bonds rose, a sign that investors are still uneasy about the ability of those countries to service their debt. The yield on Spain's benchmark 10-year bond rose 0.08 percentage point to 5.87 percent. Italy's 10-year yield rose 0.11 point to 5.64 percent.

The Dow hit its high for the year on April 2. It fell fast soon after, then bounced around. With Friday's gain, the index is now just 36 points away from that level.

In corporate news, Procter & Gamble fell 4 percent after the consumer products giant reported a 16 percent profit slump for the first three months of the year on higher costs for raw materials and restructuring charges. The maker of Bounty paper towels and Luv diapers said it would be rolling back price increases on some products where it was losing market share. It also lowered earnings forecasts for the year.

Starbucks slid 5 percent after the coffee company reported a slowdown of sales in Europe.

For the week, the Dow is up 1.5 percent, the S&P 500 is up 1.8 percent and the Nasdaq is up 2.3 percent.

5365

 

[bigdog]

Source: http://finance.yahoo.com

The Dow Jones industrial average edged down 14.68 points to close at 13,213.63, but narrowly avoided its first monthly loss since September. The Dow finished April up less than two points.

The Nasdaq composite fell 22.84 points to 3,046.36. It posted a monthly loss of 1.5 percent.

News that Spain had entered another recession renewed worries about the fragility of Europe's finances Monday and nudged stocks lower. The market ended its first losing month this year.

Disappointing economic reports and weak corporate earnings also weighed on stocks. The Standard & Poor's 500 index slipped 5.45 points to close at 1,397.91. For April, it was down 0.8 percent, its first month in the red since November.

The Spanish government said that the country's economy shrank in the first three months of the year, the second straight quarter of contraction.

The worry is that Spain's economy could be too big to rescue. It's twice as big as the combined economies of Greece, Portugal and Ireland, the three countries that have received bailout loans.

In the U.S., a drop in an index of Midwestern manufacturing and a slowdown in consumer spending last month added to worries that the economy is losing steam.

The Institute for Supply Management said its Chicago business barometer fell in April to the lowest level in more than two years. After weak readings for the New York and Philadelphia regions, the market reaction to the Chicago report could have been much worse, said Clark Yingst, chief market analyst at the brokerage Joseph Gunnar.

The NYSE DOW closed LOWER ▼ -14.68 points or ▼ -0.11% Monday, 30 April 2012
Symbol …........Last ......Change.....
Dow_Jones 13,213.63 ▼ -14.68 ▼ -0.11%
Nasdaq___ 3,046.36 ▼ -22.84 ▼ -0.74%
S&P_500__ 1,397.91 ▼ -5.45 ▼ -0.39%
30_Yr_Bond 3.109 ▼ -0.01 ▼ -0.19%

NYSE Volume 3,574,017,750
Nasdaq Volume 1,645,181,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,737.78 ▼ -10.94 ▼ -0.19%
DAX_____ 6,761.19 ▼ -40.13 ▼ -0.59%
CAC_40__ 3,212.80 ▼ -53.47 ▼ -1.64%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,467.20 ▲ 33.80 ▲ 0.76%
Shanghai_Comp 2,396.32 ▼ -8.38 ▼ -0.35%
Taiwan_Weight 7,501.72 ▲ 21.22 ▲ 0.28%
Nikkei_225____ 9,520.89 ▼ -40.94 ▼ -0.43%
Hang_Seng____ 21,094.21 ▲ 53.93 ▲ 1.70%
Strait_Times___ 2,978.57 ▼ -3.01 ▼ -0.10%
NZX 50 Index__ 3,555.87 ▲ 24.22 ▲ 0.69%

http://news.yahoo.com/dow-p-500-slip-spain-enters-recession-155558212--business.html

Dow, S&P 500 slip as Spain enters recession
By MATTHEW CRAFT

News that Spain had entered another recession renewed worries about the fragility of Europe's finances Monday and nudged stocks lower. The market ended its first losing month this year.

Disappointing economic reports and weak corporate earnings also weighed on stocks. The Standard & Poor's 500 index slipped 5.45 points to close at 1,397.91. For April, it was down 0.8 percent, its first month in the red since November.

The Spanish government said that the country's economy shrank in the first three months of the year, the second straight quarter of contraction.

The worry is that Spain's economy could be too big to rescue. It's twice as big as the combined economies of Greece, Portugal and Ireland, the three countries that have received bailout loans.

In the U.S., a drop in an index of Midwestern manufacturing and a slowdown in consumer spending last month added to worries that the economy is losing steam.

The Institute for Supply Management said its Chicago business barometer fell in April to the lowest level in more than two years. After weak readings for the New York and Philadelphia regions, the market reaction to the Chicago report could have been much worse, said Clark Yingst, chief market analyst at the brokerage Joseph Gunnar.

"It's very bad news in my opinion," Yingst said. "I'd have thought the market would come under more pressure than it has."

Weaker earnings reports from health insurer Humana and the owner of the New York Stock Exchange, NYSE Euronext, also hurt stock indexes.

The Dow Jones industrial average edged down 14.68 points to close at 13,213.63, but narrowly avoided its first monthly loss since September. The Dow finished April up less than two points.

The Nasdaq composite fell 22.84 points to 3,046.36. It posted a monthly loss of 1.5 percent.

Growing concerns about Spain knocked European markets lower on Monday. Spain's main stock index, the IBEX 35, sank 1.9 percent. France's CAC-40 lost 1.6 percent.

The dollar and U.S. Treasury prices edged up as investors parked money in low-risk assets.

Ratings agency Standard & Poor's downgraded Spain's government debt to just three notches above junk Friday. On Monday S&P lowered its rating for 11 Spanish banks, which are loaded with bad debt from a collapsed housing market.

Among stocks making big moves:

”” Barnes & Noble jumped 52 percent after Microsoft announced that it would invest $300 million to help Barnes & Noble compete with Amazon.com. The companies will create a subsidiary for Barnes & Noble's e-book and college textbook businesses. Microsoft also plans an application for Nook, Barnes & Noble's e-reader, on its Windows 8 tablets, which come out this fall. Microsoft's stock was flat.

”” Health insurer Humana fell 8 percent to after reporting a large drop in first-quarter profit as the company paid more in claims. The results fell short of Wall Street's expectations.

”” NYSE Euronext, owner of the New York Stock Exchange, lost 5 percent after reporting that its income plunged in the first three months of the year. Revenue from its trading business was weak, and the company abandoned a merger with the European exchange operator Deutsche Boerse.

”” Sunoco jumped 20 percent, the most of any stock in the S&P 500. The fuel-refining company agreed to be bought by Energy Transfer Partners, an operator of natural gas pipelines, for $5.3 billion.

 

[bigdog]

Source: http://finance.yahoo.com

The fastest growth in U.S. manufacturing in 10 months gave stocks a lift Tuesday and pushed the Dow Jones industrial average to its highest close in more than four years.

Manufacturing expanded last month at the strongest pace since June, according to the Institute for Supply Management. Orders, hiring and production all rose.

A measure of manufacturing employment also reached a nine-month high, a hopeful sign ahead of Friday's monthly jobs report.

The manufacturing news jolted stock indexes out of a morning stupor, although the gains waned throughout the afternoon. The Dow added 65.69 points to 13,279.32, its highest closing mark since Dec. 28, 2007, during the first month of the Great Recession.

"It definitely changed the direction of markets," said Jack Ablin, chief investment officer at Harris Private Bank.

Treasury prices fell, and benchmark crude oil rose $1.29 to settle at $106.16 per barrel. Both of those things tend to happen when investors expect stronger economic growth.

Ablin saw an irony in the reaction to the ISM report. Europe's debt crisis has knocked markets around for months, jerking stocks down on worries its troubles could cross the Atlantic. But Europe's woes have made U.S. manufacturers look more attractive to companies, Ablin said.

The NYSE DOW closed HIGHER ▲ 65.69 points or ▲ 0.50% Tuesday, 1 May 2012
Symbol …........Last ......Change.....
Dow_Jones 13,279.32 ▲ 65.69 ▲ 0.50%
Nasdaq___ 3,050.44 ▲ 4.08 ▲ 0.13%
S&P_500__ 1,405.82 ▲ 7.91 ▲ 0.57%
30_Yr_Bond 3.161 ▲ 0.05 ▲ 1.67%

NYSE Volume 3,807,950,750
Nasdaq Volume 1,876,061,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,812.23 ▲ 74.45 ▲ 1.30%
DAX_____ 6,761.19 ▼ -40.13 ▼ -0.59%
CAC_40__ 3,212.80 ▼ -53.47 ▼ -1.64%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,497.30 ▲ 30.10 ▲ 0.67%
Shanghai_Comp 2,396.32 ▼ -8.38 ▼ -0.35%
Taiwan_Weight 7,501.72 ▲ 21.22 ▲ 0.28%
Nikkei_225____ 9,350.95 ▼ -169.94 ▼ -1.78%
Hang_Seng____ 21,094.21 ▲ 53.93 ▲ 1.70%
Strait_Times___ 2,978.57 ▼ -3.01 ▼ -0.10%
NZX 50 Index__ 3,577.32 ▲ 21.45 ▲ 0.60%

http://news.yahoo.com/dow-jones-average-hits-highest-mark-since-07-201529478--business.html

Dow Jones average hits highest mark since '07
By MATTHEW CRAFT | Associated Press

The fastest growth in U.S. manufacturing in 10 months gave stocks a lift Tuesday and pushed the Dow Jones industrial average to its highest close in more than four years.

Manufacturing expanded last month at the strongest pace since June, according to the Institute for Supply Management. Orders, hiring and production all rose.

A measure of manufacturing employment also reached a nine-month high, a hopeful sign ahead of Friday's monthly jobs report.

The manufacturing news jolted stock indexes out of a morning stupor, although the gains waned throughout the afternoon. The Dow added 65.69 points to 13,279.32, its highest closing mark since Dec. 28, 2007, during the first month of the Great Recession.

"It definitely changed the direction of markets," said Jack Ablin, chief investment officer at Harris Private Bank.

Treasury prices fell, and benchmark crude oil rose $1.29 to settle at $106.16 per barrel. Both of those things tend to happen when investors expect stronger economic growth.

Ablin saw an irony in the reaction to the ISM report. Europe's debt crisis has knocked markets around for months, jerking stocks down on worries its troubles could cross the Atlantic. But Europe's woes have made U.S. manufacturers look more attractive to companies, Ablin said.

"It's gotten to a point over last 10 years where it's better to manufacture here than in pretty much any other developed country in the world," he said.

In a separate report Tuesday, the Commerce Department said construction spending ticked up in March, following two months of declines.

Sam Stovall, chief equity strategist at S&P Capital IQ, said the two reports looked like evidence that the U.S. economic recovery is solid despite turmoil in Europe and weaker job creation in March.

"I think investors are encouraged there's at least one place in the world where it's still worth investing," Stovall said. "They're not ready to give up on this bull market yet."

Other indexes pushed higher. The Standard & Poor's 500 index rose eight points to 1,406. The Nasdaq composite climbed four points to 3,050.

All 10 industry groups within the S&P 500 climbed, led by energy companies. Chesapeake Energy Corp. jumped 6 percent on reports that the company will strip CEO Aubrey McClendon of his chairman's title.

McClendon, Chesapeake's founder, was under fire for taking out more than $1 billion in loans using the company's wells as collateral. Chesapeake recently agreed to end the program that allowed McClendon to take personal stakes in the wells.

The S&P finished April in the red, its first losing month since November. The Dow managed a tiny gain.

Judging by its track record, May isn't a promising month for stocks. Since World War II, the S&P 500 has gained an average of 0.31 percent in May. For all months, the average gain is 0.67 percent.

"It's a very undistinguished month," Stovall said.

Among stocks making big moves:

”” Sears Holdings Corp. soared 15 percent, the biggest gain in the S&P 500. The operator of Kmart and Sears stores expects to post a first-quarter profit thanks to a gain from the sale of some U.S. and Canadian stores. The company's stock has jumped 99 percent so far this year.

”” Archer Daniels Midland Co. gained 7 percent after the food conglomerate reported profits that beat analysts' expectations. Profits dropped by nearly a third over the past year, pulled down by one-time charges and lower weaker results from its ethanol and oilseeds businesses.

”” Avon Products Inc. fell 8 percent, the largest drop in the S&P. The company said earnings plunged 82 percent, hurt by a bigger restructuring charge, commodity costs and rising labor costs. The results were worse than analysts had expected.