NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

U.S. stocks closed lower after uneven trading Tuesday as fears about the "fiscal cliff" and Greece tipped major indexes between gains and losses. A surge in Home Depot's stock prevented a steeper drop for the Dow Jones industrial average.

The Dow closed down closed down 58.90 points, or 0.5 percent, at 12,756.18. It would have been lower without support from Home Depot, whose stock jumped 3.6 percent after the big-box retailer beat expectations for its fiscal third-quarter earnings. Home Depot is benefiting from the gradual housing recovery and rebuilding efforts after Superstorm Sandy. Home Depot rose $2.22 to $63.38.

Stocks had opened lower after European leaders postponed the latest aid package for Greece. The Dow turned positive in the first hour of trading and rose solidly through the morning, gaining as much as 83 points. Starting around 2 p.m., the average slid steadily into the red.

Other indexes also closed lower. The Standard & Poor's 500 index lost 5.50 points, or 0.4 percent, to 1,374.53. The Nasdaq composite index fell 20.37 points, or 0.7 percent, to 2,883.89.

Investors are trading against the backdrop of the "fiscal cliff," a set of U.S. government spending cuts and tax increases that will take effect automatically at the beginning of next year unless U.S. leaders reach a compromise before then.

Worries about the fiscal cliff pushed U.S. stocks to one of their worst weekly losses of the year last week after voters re-elected President Barack Obama and a deeply divided Congress. Obama met Tuesday with labor leaders and others who advocate higher taxes on the wealthy and want to protect health benefits for seniors and other government programs. Obama will meet with business leaders Wednesday.

"The longer we sit and do nothing" about the nation's fiscal issues, "the more this market is going to oscillate between positive 40 and negative 60, until we know what's going to happen next with all this uncertainty," said Craig Johnson, senior technical research strategist with Piper Jaffray & Co. in Minneapolis.

Johnson expects the S&P 500 will reach 1,550 in the next six months as investors get over their lingering wooziness from the Great Recession and companies understand better how government policy on taxes, health care and spending will affect them.

European stocks had been lower but rose after trading opened in New York. Benchmark indexes in France, Britain and Germany closed modestly higher.

Traders in Europe are concerned because finance ministers postponed $40 billion in desperately needed aid for Greece. The news surprised investors. A day earlier, there was word that leaders had prepared a "positive" report on Greece, making it appear likely that the aid would be released.

The NYSE DOW closed LOWER ▼ -58.90 points or ▼ -0.46% Tuesday, 13 November 2012
Symbol …........Last ......Change.....
Dow_Jones 12,756.18 ▼ -58.90 ▼ -0.46%
Nasdaq____ 2,883.89 ▼ -20.37 ▼ -0.70%
S&P_500____ 1,374.53 ▼ -5.50 ▼ -0.40%
30_Yr_Bond____ 2.721 ▼ -0.02 ▼ -0.87%

NYSE Volume 3,427,123,250
Nasdaq Volume 1,765,818,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,786.25 ▲ 18.98 ▲ 0.33%
DAX_____ 7,169.12 ▲ 0.36 ▲ 0.01%
CAC_40__ 3,430.60 ▲ 18.95 ▲ 0.56%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,404.20 ▼ -65.70 ▼ -1.47%
Shanghai_Comp 2,047.89 ▼ -31.39 ▼ -1.51%
Taiwan_Weight 7,136.05 ▼ -131.70 ▼ -1.81%
Nikkei_225____ 8,661.05 ▼ -15.39 ▼ -0.18%
Hang_Seng____ 21,188.65 ▲ 53.93 ▼ -1.13%
Strait_Times___ 3,007.57 ▼ -1.99 ▼ -0.07%
NZX_50_Index__ 3,970.55 ▼ -13.44 ▼ -0.34%

http://finance.yahoo.com/news/us-st...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

US stocks fall in uneven trading; Home Depot soars

US stocks decline in uneven trading; Greece jitters and fiscal worries keep traders on edge

By Daniel Wagner, AP Business Writer

U.S. stocks closed lower after uneven trading Tuesday as fears about the "fiscal cliff" and Greece tipped major indexes between gains and losses. A surge in Home Depot's stock prevented a steeper drop for the Dow Jones industrial average.

The Dow closed down closed down 58.90 points, or 0.5 percent, at 12,756.18. It would have been lower without support from Home Depot, whose stock jumped 3.6 percent after the big-box retailer beat expectations for its fiscal third-quarter earnings. Home Depot is benefiting from the gradual housing recovery and rebuilding efforts after Superstorm Sandy. Home Depot rose $2.22 to $63.38.

Stocks had opened lower after European leaders postponed the latest aid package for Greece. The Dow turned positive in the first hour of trading and rose solidly through the morning, gaining as much as 83 points. Starting around 2 p.m., the average slid steadily into the red.

Other indexes also closed lower. The Standard & Poor's 500 index lost 5.50 points, or 0.4 percent, to 1,374.53. The Nasdaq composite index fell 20.37 points, or 0.7 percent, to 2,883.89.

Investors are trading against the backdrop of the "fiscal cliff," a set of U.S. government spending cuts and tax increases that will take effect automatically at the beginning of next year unless U.S. leaders reach a compromise before then.

Worries about the fiscal cliff pushed U.S. stocks to one of their worst weekly losses of the year last week after voters re-elected President Barack Obama and a deeply divided Congress. Obama met Tuesday with labor leaders and others who advocate higher taxes on the wealthy and want to protect health benefits for seniors and other government programs. Obama will meet with business leaders Wednesday.

"The longer we sit and do nothing" about the nation's fiscal issues, "the more this market is going to oscillate between positive 40 and negative 60, until we know what's going to happen next with all this uncertainty," said Craig Johnson, senior technical research strategist with Piper Jaffray & Co. in Minneapolis.

Johnson expects the S&P 500 will reach 1,550 in the next six months as investors get over their lingering wooziness from the Great Recession and companies understand better how government policy on taxes, health care and spending will affect them.

European stocks had been lower but rose after trading opened in New York. Benchmark indexes in France, Britain and Germany closed modestly higher.

Traders in Europe are concerned because finance ministers postponed $40 billion in desperately needed aid for Greece. The news surprised investors. A day earlier, there was word that leaders had prepared a "positive" report on Greece, making it appear likely that the aid would be released.

"It's a little bit like Groundhog Day," said Nicholas Colas, chief market strategist at ConvergEx Group, referring to the classic Bill Murray movie whose protagonist must relive the same day over and over. Until there is decisive news from Washington or Brussels, neither of which appears imminent, markets will remain vulnerable to short-term swings caused by headlines, Colas said.

The next major catalysts for a market move, Colas said, will be gauges of spending by consumers on Black Friday, the traditional shopping rush on the day after Thanksgiving.

Greece's neighbors decided to give the country two more years to meet its economic targets. They still disagree with the International Monetary Fund, another key lender, over how to manage the country's debt over the long term. Until lenders reach an accord, they can't release the billions that Greece needs to make upcoming payments.

IMF managing director Christine Lagarde said Greece should reduce its debt burden down to 120 percent of its economic output by 2020, the original target of 2020. But Jean-Claude Juncker, leader of the euro zone's finance ministers, said that the deadline would likely be changed to 2022. The lenders will meet again on Nov. 20.

The yield on the 10-year Treasury note slid to 1.59 percent from 1.64 percent late Friday as demand increased for ultra-safe investments. The U.S. bond market was closed on Monday in observance of the Veterans Day holiday.

Among stocks making big moves:

Microsoft plunged 3 percent after it announced the departure of Steven Sinofsky, who ran its Windows division. The unexpected move comes just weeks after Microsoft launched Windows 8, its first major overhaul in years of the operating system used on most of the world's computers. Microsoft fell 90 cents to $27.09.

Weatherford International dropped 15.9 percent after the oilfield services company reported revenue that was lower than analysts had been expecting. The company did not report full results because of accounting problems that have led it to revise its results from numerous periods. The stock fell $1.73 to $9.15.

Apparel chain operator TJX Cos., the parent of TJ Maxx and Marshalls, rose 2.7 percent after raising its full-year earnings forecast and reporting third-quarter revenue that exceeded analysts' expectations. The stock added $1.09 to $42.06.

 

[bigdog]

Source: http://finance.yahoo.com

Investors drew little hope Wednesday for a quick compromise in U.S. budget talks after President Barack Obama insisted that higher taxes on wealthy Americans would have to be part of any deal.

Stocks fell sharply, and even a signal from the Federal Reserve that it could launch a program in December to speed job growth failed to encourage investors. The Dow Jones industrial average dropped 185 points.

Obama made clear he would seek higher tax revenue from the wealthiest Americans, which faces opposition among some Republicans in Congress. Obama said that a modest increase on the wealthy "is not going to break their backs."

"The Street was looking for him to say some magic buzzwords about avoiding the 'fiscal cliff,' about cooperation," said Sal Arnuk of Themis trading, a New Jersey brokerage. Instead, Arnuk said, the remarks were "unyielding."

The "cliff" is a package of tax increases and government spending cuts that will take effect Jan. 1 unless Obama and Congress reach a deal first. They would total about $700 billion for 2013 and could send the country back into recession.

Stocks have fallen steadily since voters returned Obama and a divided Congress to power Nov. 6. The Dow has fallen 675 points, or 5.1 percent, including three daily drops of more than 100 points.

The Standard & Poor's 500 index has dropped 5 percent in that time, returning to where it stood in late July.

"Investors' hopes that the election would end uncertainty remain unfulfilled," said Lawrence Creatura, a portfolio manager at Federated Investors in Rochester, N.Y. "It's very tough to determine what happens next."

Obama said Wednesday that he would not to cave to Republicans who have pressed for tax cuts first passed by President George W. Bush to be extended for all income earners.

Obama has long opposed extending the cuts for families making more than $250,000 a year, but he gave in to GOP demands in 2010, when the cuts were up for renewal. They were extended two years.

The president also met with business leaders Wednesday to discuss the economy.

The NYSE DOW closed LOWER ▼ -185.23 points or ▼ -1.45% Wednesday, 14 November 2012
Symbol …........Last ......Change.....
Dow_Jones 12,570.95 ▼ -185.23 ▼ -1.45%
Nasdaq____ 2,846.81 ▼ -37.08 ▼ -1.29%
S&P_500____ 1,355.49 ▼ -19.04 ▼ -1.39%
30_Yr_Bond____ 2.728 ▲ 0.01 ▲ 0.26%

NYSE Volume 4,103,520,750
Nasdaq Volume 2,127,126,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,722.01 ▼ -64.24 ▼ -1.11%
DAX_____ 7,101.92 ▼ -67.20 ▼ -0.94%
CAC_40__ 3,400.02 ▼ -30.58 ▼ -0.89%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,410.70 ▲ 6.50 ▲ 0.15%
Shanghai_Comp 2,055.42 ▲ 7.53 ▲ 0.37%
Taiwan_Weight 7,159.75 ▲ 23.70 ▲ 0.33%
Nikkei_225____ 8,664.73 ▲ 3.68 ▲ 0.04%
Hang_Seng____ 21,441.99 ▲ 53.93 ▲ 1.20%
Strait_Times___ 2,978.03 ▼ -29.54 ▼ -0.98%
NZX_50_Index__ 3,955.56 ▼ -14.99 ▼ -0.38%

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Stocks slide as impasse over budget deficit looms

Stocks sink on Wall Street as investors fret over a looming impasse over US budget

By Steve Rothwell, AP Business Writer

Investors drew little hope Wednesday for a quick compromise in U.S. budget talks after President Barack Obama insisted that higher taxes on wealthy Americans would have to be part of any deal.

Stocks fell sharply, and even a signal from the Federal Reserve that it could launch a program in December to speed job growth failed to encourage investors. The Dow Jones industrial average dropped 185 points.

Obama made clear he would seek higher tax revenue from the wealthiest Americans, which faces opposition among some Republicans in Congress. Obama said that a modest increase on the wealthy "is not going to break their backs."

"The Street was looking for him to say some magic buzzwords about avoiding the 'fiscal cliff,' about cooperation," said Sal Arnuk of Themis trading, a New Jersey brokerage. Instead, Arnuk said, the remarks were "unyielding."

The "cliff" is a package of tax increases and government spending cuts that will take effect Jan. 1 unless Obama and Congress reach a deal first. They would total about $700 billion for 2013 and could send the country back into recession.

Stocks have fallen steadily since voters returned Obama and a divided Congress to power Nov. 6. The Dow has fallen 675 points, or 5.1 percent, including three daily drops of more than 100 points.

The Standard & Poor's 500 index has dropped 5 percent in that time, returning to where it stood in late July.

"Investors' hopes that the election would end uncertainty remain unfulfilled," said Lawrence Creatura, a portfolio manager at Federated Investors in Rochester, N.Y. "It's very tough to determine what happens next."

Obama said Wednesday that he would not to cave to Republicans who have pressed for tax cuts first passed by President George W. Bush to be extended for all income earners.

Obama has long opposed extending the cuts for families making more than $250,000 a year, but he gave in to GOP demands in 2010, when the cuts were up for renewal. They were extended two years.

The president also met with business leaders Wednesday to discuss the economy.

Obama is to meet Friday with Republican House Speaker John Boehner and the top Republican in the Senate, Mitch McConnell. They are expected to designate aides to begin the search for a compromise on the budget.

Boehner and McConnell have said they won't agree to raise tax rates for the wealthy. They have said they are willing to support raising overall tax revenue as part of a deal that also makes changes to the government's largest benefit programs.

There are ways to increase tax revenue from the wealthy without raising rates, including limiting tax deductions, but the path to compromise is unclear. Obama sidestepped a question about insisting on higher rates for the wealthy.

"I just want to emphasize I am open to new ideas if the Republican counterparts or some Democrats have a great idea for us to raise revenue, maintain progressivity, make sure the middle class isn't getting hit, reduces our deficit," he said.

On Wednesday, the Dow dropped 185.23 points, or 1.5 percent, to 12,570.95. The S&P fell 19.04 points, or 1.4 percent, to 1,355.49, and the Nasdaq composite declined 37.08 points, or 1.29 percent, to 2,846.81.

Indexes are still up on the year, though they have pared gains since reaching four-year highs. The S&P has fallen 7.5 percent since its Sept. 14 peak, and the Dow has fallen 7.6 percent, more than 1,000 points, since its Oct. 5 peak.

Among individual stocks, Abercrombie & Fitch, which sells teen clothes, bucked the trend of a declining market and was by far the best-performing stock in the S&P 500.

Abercrombie jumped $10.54 to $41.92 after reporting that its international business was thriving and that its net income soared 40 percent in the most recent quarter, more than financial analysts were expecting.

The Commerce Department said that Americans cut back on spending in October, suggesting that many are still cautious about the economy.

Sales dropped 0.3 percent last month after three months of gains. That was worse than analysts had been expecting, according to FactSet, a provider of financial data.

The government also said auto sales fell 1.5 percent, the most in more than a year. Sales may have been hurt by Superstorm Sandy.

The Federal Reserve released minutes of its October meeting and suggested that it may replace a soon-to-end program of buying U.S. government bonds to lower long-term interest rates and spur job growth.

Under an existing program, known as Operation Twist, the Fed has been selling $45 billion a month in short-term Treasurys and using the proceeds to buy an equal amount of longer-term securities.

The Fed minutes showed support among "a number of" Fed policymakers to replace Twist with another program of long-term bond purchases when it ends in December.

The purchases are intended to lower long-term borrowing rates to encourage spending and strengthen the economy. The hope is that more hiring would follow. The yield on the 10-year Treasury note was unchanged at 1.59 percent.

Among other stocks making big moves:

”” Cisco Systems, the world's largest maker of computer networking equipment, gained 81 cents, or 4.8 percent, to $17.66. Cisco said late Tuesday that its earnings rose 18 percent in the latest quarter and that U.S. companies are starting to spend again.

”” Mosaic, a company that mines for potash, a key ingredient in fertilizers, slipped $1.65, or 3.3 percent, to $49.10 after saying that international demand for its product had weakened and that it was lowering its sales forecasts.

”” Advanced Micro Devices, a chipmaker, slumped 16 cents, or 7.7 percent, to $1.93 after the company denied a report that said it was considering a sale. The stock has lost about 77 percent since March because of dwindling sales.

”” Facebook jumped $2.50, or 12.6 percent, to $22.36. Wednesday was the expiration of a so-called lockup period that prevents insiders from selling stock immediately after a company goes public. About 850 million shares are being freed for sale.

 

[bigdog]

Source: http://finance.yahoo.com

Stock indexes closed lower Thursday, a third straight decline, after U.S. retailers issued weak forecasts for earnings and more people filed claims for unemployment benefits.

Wal-Mart, Ross Stores and Limited Brands, the owner of Victoria's Secret, all fell after issuing forecasts that disappointed financial analysts. Wal-Mart fell $2.59, or 3.6 percent, to $68.72.

The Dow Jones industrial average wavered between small gains and losses shortly after the opening bell, then moved lower at midmorning. It closed down 28.57 points at 12,542.38.

The Standard & Poor's 500 index dropped 2.16 points to 1,353.33 and the Nasdaq composite finished 9.87 points lower at 2,836.94.

Stocks have fallen steadily since voters returned President Barack Obama and a divided Congress to power. The Dow has lost 5 percent from Election Day, Nov. 6.

Investors are worried that U.S. leaders may not reach a deal before tax increases and government spending cuts take effect Jan. 1. The impact would total $700 billion for 2013 and could send the country back into recession.

Bill Stone, chief investment strategist at PNC Asset Management Group in Philadelphia, said the bargaining in Washington would likely drag on until next year, weighing on stocks. "It's hard to see the market getting a whole ton of traction until that gets settled."

President Obama will meet with congressional leaders Friday to talk about the budget, but he appeared to suggest Thursday that he would insist on an increase in tax rates for the wealthy.

T. Dale, a portfolio manager at Security Ballew Wealth Management in Jackson, Miss., said that stocks are more likely to fall than rise, partly because of slowing global economic growth and the U.S. budget impasse.

"The market has gotten well ahead of itself," Dale said.

Superstorm Sandy drove the number of people seeking unemployment benefits up to 439,000 last week, the Labor Department reported. Applications for benefits rose 78,000, mostly because a large number were filed in storm-damaged states.

The European Union's statistics agency confirmed that the euro zone, the group of 17 countries that use the euro currency, is in recession. The economy in the region shrank 0.1 percent in the third quarter from the previous three-month period.

The NYSE DOW closed LOWER ▼ -28.57 points or ▼ -0.23% Thursday, 15 November 2012
Symbol …........Last ......Change.....
Dow_Jones 12,542.38 ▼ -28.57 ▼ -0.23%
Nasdaq____ 2,836.94 ▼ -9.87 ▼ -0.35%
S&P_500____ 1,353.33 ▼ -2.16 ▼ -0.16%
30_Yr_Bond____ 2.724 ▼ 0.00 ▼ -0.15%

NYSE Volume 3,894,035,750
Nasdaq Volume 2,018,847,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,677.75 ▼ -44.26 ▼ -0.77%
DAX_____ 7,043.42 ▼ -58.50 ▼ -0.82%
CAC_40__ 3,382.40 ▼ -17.62 ▼ -0.52%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,370.60 ▼ -40.10 ▼ -0.91%
Shanghai_Comp 2,030.29 ▼ -25.13 ▼ -1.22%
Taiwan_Weight 7,143.84 ▼ -15.91 ▼ -0.22%
Nikkei_225____ 8,829.72 ▲ 164.99 ▲ 1.90%
Hang_Seng____ 21,108.93 ▲ 53.93 ▼ -1.55%
Strait_Times___ 2,942.77 ▼ -35.26 ▼ -1.18%
NZX_50_Index__ 3,951.50 ▼ -4.06 ▼ -0.10%

http://finance.yahoo.com/news/stocks-close-lower-weak-retail-213031526.html

Stocks close lower after weak retail reports

Stocks end lower as Wal-Mart, Ross and Limited Brands report mixed earnings; weak jobs report

By Steve Rothwell, AP Business Writer

Stock indexes closed lower Thursday, a third straight decline, after U.S. retailers issued weak forecasts for earnings and more people filed claims for unemployment benefits.

Wal-Mart, Ross Stores and Limited Brands, the owner of Victoria's Secret, all fell after issuing forecasts that disappointed financial analysts. Wal-Mart fell $2.59, or 3.6 percent, to $68.72.

The Dow Jones industrial average wavered between small gains and losses shortly after the opening bell, then moved lower at midmorning. It closed down 28.57 points at 12,542.38.

The Standard & Poor's 500 index dropped 2.16 points to 1,353.33 and the Nasdaq composite finished 9.87 points lower at 2,836.94.

Stocks have fallen steadily since voters returned President Barack Obama and a divided Congress to power. The Dow has lost 5 percent from Election Day, Nov. 6.

Investors are worried that U.S. leaders may not reach a deal before tax increases and government spending cuts take effect Jan. 1. The impact would total $700 billion for 2013 and could send the country back into recession.

Bill Stone, chief investment strategist at PNC Asset Management Group in Philadelphia, said the bargaining in Washington would likely drag on until next year, weighing on stocks. "It's hard to see the market getting a whole ton of traction until that gets settled."

President Obama will meet with congressional leaders Friday to talk about the budget, but he appeared to suggest Thursday that he would insist on an increase in tax rates for the wealthy.

T. Dale, a portfolio manager at Security Ballew Wealth Management in Jackson, Miss., said that stocks are more likely to fall than rise, partly because of slowing global economic growth and the U.S. budget impasse.

"The market has gotten well ahead of itself," Dale said.

Superstorm Sandy drove the number of people seeking unemployment benefits up to 439,000 last week, the Labor Department reported. Applications for benefits rose 78,000, mostly because a large number were filed in storm-damaged states.

The European Union's statistics agency confirmed that the euro zone, the group of 17 countries that use the euro currency, is in recession. The economy in the region shrank 0.1 percent in the third quarter from the previous three-month period.

Among the retailers disappointing Wall Street with lower earnings forecasts, Ross Stores, whose stores includes Ross Dress for Less, fell 70 cents, or 1.3 percent, to $54.44. Limited Brands dropped $1.10, or 2.4 percent, to $45.50.

The yield on the 10-year Treasury note was little changed at 1.59 percent.

Among stocks making big moves:

”” NetApp, a data storage business, jumped $3.08, or 11.3 percent, to $30.20 after the company reported earnings that were higher than analysts were expecting.

”” Viacom, the owner of Nickelodeon, MTV and the Paramount movie and TV studio, rose $1.24, or 2.6 percent, to $49.23. The media conglomerate did better than investors had expected thanks to lower costs and higher fees from cable and satellite companies for carrying its cable networks.

”” Petsmart, a specialty pet retailer, jumped $2.63, or 4.1 percent, to $67.48 after raising its full-year outlook.

”” Target rose $1.06, or 1.7 percent, to $62.44 after reporting that its profit rose more than analysts had forecast. The company also issued a strong outlook heading into the critical holiday season.

”” Dollar Tree, a discount retailer that sells items for $1 or less, gained $1.94, or 5.1 percent, to $39.70 after the company said its net income rose 49 percent in the third quarter.

”” Apple's market value fell below $500 million for the first time since May, as the maker of smartphones and tablets dropped $11.26, or 2.1 percent, to $525.62. The company's market value climbed as high as $658 million Sept. 19, according to FactSet data.

 

[bigdog]

Source: http://finance.yahoo.com

Optimism that President Barack Obama and Congressional leaders will reach a deal on the budget deficit and avoid the "fiscal cliff" helped stocks notch their first advance in four days.

The market started lower Friday but spiked higher shortly before midday as the top members of the House and Senate spoke at the White House following a closed-door session with Obama. House Speaker John Boehner and Senate Minority Leader Mitch McConnell both said they offered higher tax revenue as part of a deal. Boehner said he outlined a framework that is consistent with Obama's call for a "balanced" approach of both higher revenue and spending cuts.

"It's a good start ... the fact that they were all standing together," said Ben Schwartz, the chief market strategist at Lightspeed Financial, a New York-based broker.

The Dow Jones industrial average closed up 45.93 points, or 0.4 percent, at 12,588.31, after falling as much as 71 points at mid-morning. The Standard & Poor's 500 index rose 6.55 points, or 0.5 percent, to 1,359.88 and the Nasdaq rose 16.19 points, or 0.6 percent to 2,853.13.

Investor concern that Obama and Congress won't reach a deal on how to cut the deficit has caused a sell-off in stocks since Election Day. Stocks fell Wednesday after Obama insisted that higher taxes on wealthy Americans would have to be part of any deal and that he would not cave to Republicans who have pressed for tax cuts first passed by President George W. Bush to be extended for all income earners.

The Dow is down 5 percent since Nov. 6. If an agreement isn't made, automatic government spending cuts and tax increases are set to kick in at the beginning of next year. The measures total about $700 billion for 2013 and could send the country back into recession.

Mitch Stapley, chief investment officer at Fifth Third Asset Management, says that investors and traders are likely to be in for a rough ride until the politicians have brokered a deal.

"Volatility is going to be the hallmark as we go through this process ... It's going to be a very choppy period coming up," said Stapley, who is based in Grand Rapids, Mich.

The Dow still ended lower for the week, logging a fourth straight weekly decline. That slump has pared the index's gains for the year to 3 percent. The S&P 500 also ended the week lower, and has fallen three of the last four weeks.

Mixed earnings reports also weighed on stocks.

The NYSE DOW closed HIGHER ▲ 45.93 points or ▲ 0.37% Friday, 16 November 2012
Symbol …........Last ......Change.....
Dow_Jones 12,588.31 ▲ 45.93 ▲ 0.37%
Nasdaq____ 2,853.13 ▲ 16.19 ▲ 0.57%
S&P_500____ 1,359.88 ▲ 6.55 ▲ 0.48%
30_Yr_Bond____ 2.722 ▼ 0.00 ▼ -0.07%

NYSE Volume 3,991,566,750
Nasdaq Volume 2,191,482,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,605.59 ▼ -72.16 ▼ -1.27%
DAX_____ 6,950.53 ▼ -92.89 ▼ -1.32%
CAC_40__ 3,341.52 ▼ -40.88 ▼ -1.21%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,360.10 ▼ -10.50 ▼ -0.24%
Shanghai_Comp 2,014.72 ▼ -15.57 ▼ -0.77%
Taiwan_Weight 7,130.07 ▼ -13.77 ▼ -0.19%
Nikkei_225____ 9,024.16 ▲ 194.44 ▲ 2.20%
Hang_Seng____ 21,159.01 ▲ 53.93 ▲ 0.24%
Strait_Times___ 2,945.63 ▼ -0.29 ▼ -0.01%
NZX_50_Index__ 3,947.84 ▼ -3.66 ▼ -0.09%

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Stocks finish higher on optimism over budget talks

Stock market end higher for the first day in four on optimism that budget deal will be reached

By Steve Rothwell, AP Business Writer

Optimism that President Barack Obama and Congressional leaders will reach a deal on the budget deficit and avoid the "fiscal cliff" helped stocks notch their first advance in four days.

The market started lower Friday but spiked higher shortly before midday as the top members of the House and Senate spoke at the White House following a closed-door session with Obama. House Speaker John Boehner and Senate Minority Leader Mitch McConnell both said they offered higher tax revenue as part of a deal. Boehner said he outlined a framework that is consistent with Obama's call for a "balanced" approach of both higher revenue and spending cuts.

"It's a good start ... the fact that they were all standing together," said Ben Schwartz, the chief market strategist at Lightspeed Financial, a New York-based broker.

The Dow Jones industrial average closed up 45.93 points, or 0.4 percent, at 12,588.31, after falling as much as 71 points at mid-morning. The Standard & Poor's 500 index rose 6.55 points, or 0.5 percent, to 1,359.88 and the Nasdaq rose 16.19 points, or 0.6 percent to 2,853.13.

Investor concern that Obama and Congress won't reach a deal on how to cut the deficit has caused a sell-off in stocks since Election Day. Stocks fell Wednesday after Obama insisted that higher taxes on wealthy Americans would have to be part of any deal and that he would not cave to Republicans who have pressed for tax cuts first passed by President George W. Bush to be extended for all income earners.

The Dow is down 5 percent since Nov. 6. If an agreement isn't made, automatic government spending cuts and tax increases are set to kick in at the beginning of next year. The measures total about $700 billion for 2013 and could send the country back into recession.

Mitch Stapley, chief investment officer at Fifth Third Asset Management, says that investors and traders are likely to be in for a rough ride until the politicians have brokered a deal.

"Volatility is going to be the hallmark as we go through this process ... It's going to be a very choppy period coming up," said Stapley, who is based in Grand Rapids, Mich.

The Dow still ended lower for the week, logging a fourth straight weekly decline. That slump has pared the index's gains for the year to 3 percent. The S&P 500 also ended the week lower, and has fallen three of the last four weeks.

Mixed earnings reports also weighed on stocks.

Dell fell 70 cents, 7.3 percent, to $8.86. The computer maker is struggling as consumers switch to tablets and smartphones away from PCs. Dell said that its revenue may fall as much as 13 percent in the fourth quarter. Sears fell $10.99, or 19 percent, to $47.49 after the retailer said sales at both its Kmart and Sears stores continued to tumble.

Superstorm Sandy depressed U.S. industrial output in October, while production of machinery and equipment declined sharply, reflecting a more cautious outlook among businesses, according to a Federal Reserve report.

The Fed says industrial output fell 0.4 percent last month, after a 0.2 percent gain in September. Excluding the storm's impact, production at the nation's factories, mines and utilities would have been up about 0.6 percent.

The yield on the benchmark 10-year Treasury note edged down to 1.58 percent from 1.59 percent late Thursday.

Among stocks making big moves:

””Schiff Nutrition International, a nutritional supplement company, jumped $9.84, or 29 percent, to $43.76 after U.K.-based Reckitt Benckiser Group offered to pay $42 a share in cash to buy the company. German pharma giant Bayer had offered to buy Schiff in October for $34 a share. Schiff's stock is trading above the most recent offer, suggesting investors anticipate a bidding war may develop.

”” Ruckus Wireless Inc., a maker of wireless networking equipment, dropped $2.75 to $13.73 on its first day of trading. That's a decline of 18 percent.

””Foot Locker rose $1.42, or 4.5 percent, to $33.27. Its net income rose 61 percent in the third quarter.

6268

 

[bigdog]

Source: http://finance.yahoo.com

The stock market finally shook its post-election slump.

Investors seized on hope that Washington will reach a deal on the federal budget and drove stocks to their biggest gain in two months. A pair of strong corporate earnings reports also helped.

The Dow Jones industrial average closed up 207 points, or 1.7 percent. Since President Barack Obama and a divided Congress were returned to power Nov. 6, the Dow had fallen six out of eight days and slid a total of 650 points.

Obama and congressional leaders are in talks to avoid going over a "fiscal cliff" on Jan. 1, when tax increases and mandatory government spending cuts are set to take effect.

While Obama and Republicans appear at odds on whether tax rates for the wealthiest Americans should rise, lawmakers suggested over the weekend that progress is possible.

"I can tell you that the fiscal cliff is focusing the mind," said Illinois Sen. Richard Durbin, a Democrat, said on CNN's "State of the Union." He said he had heard from Republicans "the beginning of a negotiation."

Comments like those comforted investors, who are grasping for signs that the negotiations might go somewhere.

"It is quite clear that both sides want to come to a compromise and that a reasonable compromise is available," David Kelly, chief global strategist for J.P. Morgan Funds, wrote in a note to clients.

Other financial analysts noted that there have been few substantive developments to drive the market's swings, and suggested the market's surge will be short-lived.

"I don't think anything has changed. It's just the talk from day to day," said Stephen Carl, principal and head equity trader at The Williams Capital Group, an investment bank. "We'll see what happens tomorrow."

This week's market will be tougher to decipher, Carl said, because volume is increasingly light leading up to the Thanksgiving holiday. Big price swings are more likely when there are fewer buyers and sellers in the market.

The Dow finished up 207.65 points at 12,795.96. The Standard & Poor's 500 index rose 27.01 points, or 2 percent, to 1,386.89. The Nasdaq composite average gained 62.94, or 2.2 percent, to 2,916.07.

The S&P 500 and Nasdaq were lifted by Apple, which had its biggest one-day gain since April. It rose $38.05, or 7.2 percent, to $565.73. Some analysts cast doubt on a sell-off that had pushed the stock down more than 20 percent from its recent peak.

Corporate earnings reports also boosted the indexes. Lowe's said its third-quarter profit surged 76 percent. That followed a strong report from Home Depot last week. Lowe's rose $1.98, or 6.2 percent, to $33.96.

The NYSE DOW closed HIGHER ▲ 207.65 points or ▲ 1.65% Monday, 19 November 2012
Symbol …........Last ......Change.....
Dow_Jones 12,795.96 ▲ 207.65 ▲ 1.65%
Nasdaq____ 2,916.07 ▲ 62.94 ▲ 2.21%
S&P_500____ 1,386.89 ▲ 27.01 ▲ 1.99%
30_Yr_Bond____ 2.762 ▲ 0.04 ▲ 1.47%

NYSE Volume 3,333,746,250
Nasdaq Volume 1,767,287,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,737.66 ▲ 59.91 ▲ 1.06%
DAX_____ 7,123.84 ▲ 80.42 ▲ 1.14%
CAC_40__ 3,439.58 ▲ 57.18 ▲ 1.69%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,382.60 ▲ 22.50 ▲ 0.52%
Shanghai_Comp 2,016.98 ▲ 2.26 ▲ 0.11%
Taiwan_Weight 7,129.04 ▼ -1.03 ▼ -0.01%
Nikkei_225____ 9,153.20 ▲ 129.04 ▲ 1.43%
Hang_Seng____ 21,262.06 ▲ 53.93 ▲ 0.49%
Strait_Times___ 2,950.93 ▲ 5.30 ▲ 0.18%
NZX_50_Index__ 3,942.61 ▼ -5.23 ▼ -0.13%

http://finance.yahoo.com/news/us-st...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

US stocks rise on hopes for budget deal, Europe

US stocks rise as traders see progress toward avoiding fiscal calamity; hope for Greece risesThe stock market finally shook its post-election slump.

By Daniel Wagner, AP Business Writer

Investors seized on hope that Washington will reach a deal on the federal budget and drove stocks to their biggest gain in two months. A pair of strong corporate earnings reports also helped.

The Dow Jones industrial average closed up 207 points, or 1.7 percent. Since President Barack Obama and a divided Congress were returned to power Nov. 6, the Dow had fallen six out of eight days and slid a total of 650 points.

Obama and congressional leaders are in talks to avoid going over a "fiscal cliff" on Jan. 1, when tax increases and mandatory government spending cuts are set to take effect.

While Obama and Republicans appear at odds on whether tax rates for the wealthiest Americans should rise, lawmakers suggested over the weekend that progress is possible.

"I can tell you that the fiscal cliff is focusing the mind," said Illinois Sen. Richard Durbin, a Democrat, said on CNN's "State of the Union." He said he had heard from Republicans "the beginning of a negotiation."

Comments like those comforted investors, who are grasping for signs that the negotiations might go somewhere.

"It is quite clear that both sides want to come to a compromise and that a reasonable compromise is available," David Kelly, chief global strategist for J.P. Morgan Funds, wrote in a note to clients.

Other financial analysts noted that there have been few substantive developments to drive the market's swings, and suggested the market's surge will be short-lived.

"I don't think anything has changed. It's just the talk from day to day," said Stephen Carl, principal and head equity trader at The Williams Capital Group, an investment bank. "We'll see what happens tomorrow."

This week's market will be tougher to decipher, Carl said, because volume is increasingly light leading up to the Thanksgiving holiday. Big price swings are more likely when there are fewer buyers and sellers in the market.

The Dow finished up 207.65 points at 12,795.96. The Standard & Poor's 500 index rose 27.01 points, or 2 percent, to 1,386.89. The Nasdaq composite average gained 62.94, or 2.2 percent, to 2,916.07.

The S&P 500 and Nasdaq were lifted by Apple, which had its biggest one-day gain since April. It rose $38.05, or 7.2 percent, to $565.73. Some analysts cast doubt on a sell-off that had pushed the stock down more than 20 percent from its recent peak.

Corporate earnings reports also boosted the indexes. Lowe's said its third-quarter profit surged 76 percent. That followed a strong report from Home Depot last week. Lowe's rose $1.98, or 6.2 percent, to $33.96.

Tyson Foods, the country's biggest meat company, beat analysts' expectations for its quarterly earnings. Tyson added $1.84, or 10.9 percent, to $18.72.

Materials stocks, a category that includes foresting companies, metal producers and miners, soared, supported by the latest sign that a recovery in the housing market has stabilized.

The National Association of Realtors said sales of previously occupied homes in the U.S. rose in October, helped by a stronger job market and record-low mortgage rates. The pace of sales is roughly 11 percent higher than a year ago.

Stocks fell in each of the past four weeks as traders fretted about the possibility that lawmakers will fail to prevent the spending cuts and tax increases from taking effect.

Economists have warned that the hit to the economy could total $700 billion for 2013 and push the United States back into recession, although the damage from the "cliff" would come slowly, and lawmakers could always reach a deal after Jan. 1.

The indexes turned positive Friday afternoon, breaking a four-day slump, amid signs that Obama and Republicans in Congress were prepared to cede long-held bargaining positions.

House Speaker John Boehner and Senate Minority Leader Mitch McConnell said they had offered higher tax revenue as part of a deal. That could include limiting tax deductions for the highest earners.

Monday's gain for the Dow was its biggest since Sept. 13.

The S&P 500, meanwhile, is trading near a key technical level, said Randy Frederick, managing director of active trading and derivatives at the brokerage Charles Schwab.

For nearly two weeks, the index has closed below its 200-day average, which on Monday stood at 1,382. It surpassed that marker Monday afternoon. Frederick said that might signal more buying.

Technical levels are historic averages and other indicators used by some traders to decide if stocks are a good value.

The market is closed on Thursday for Thanksgiving and will close early Friday.

On Monday, stock indexes in France, Germany and Britain closed up 2.5 percent or more as traders monitored Greece's quest for its latest round of bailout cash.

Greece needs international lenders and the International Monetary Fund to release the money so that Greece can meet upcoming payments to creditors. Trading in Europe is still volatile. The region has entered recession.

Finance ministers from nations that use the euro will meet Tuesday. Later in the week, leaders will convene to discuss the European Union's budget for the next few years.

Traders also followed developments in the Middle East as conflict flared between Israel and Hamas. Concerns about instability in the region and hopes for a U.S. fiscal pact pushed benchmark crude up $2.36, or 2.7 percent, to finish at $89.28 per barrel in New York.

Earlier, Asian markets rose more modestly.

The yield on the benchmark 10-year Treasury note rose to 1.61 percent from 1.58 percent late Friday, a sign that traders are selling low-risk investments. A bond's yield rises as its price falls.

The market's longer-term direction will likely hinge on U.S. leaders' ability to attack the fiscal challenge between Thanksgiving and Christmas, Frederick said.

"If they can put some sort of a plan together, or make us believe they have a plan, or at least that there's some cooperation going on there, that could be a real boost for the market," he said.

Among big companies making news, Intel fell after its CEO of 40 years announced that he will retire in May. The stock rose 6 cents to $20.25.

Diamond Foods hit its lowest price since September 2006 after an analyst cut the snack food company's rating and price target. Diamond restated two years' worth of financial results last Wednesday, effectively wiping away $56.5 million in profit from its books. Diamond fell $1.79, or 11.8 percent, to $13.34.

Advanced Micro Devices Inc. rose after an analyst said that the stock could see an "early 2013 bounce." He said investor concerns about the company's solvency were overblown and caused traders to oversell. AMD rose 6 cents, or 3.2 percent, to $1.92.

 

[bigdog]

Source: http://finance.yahoo.com

Falling oil prices and a surprise announcement from Hewlett-Packard weighed on technology and energy stocks Tuesday.

HP plunged 12 percent after executives said that a company HP bought for $10 billion last year lied about its finances. CEO Meg Whitman said that there were "serious accounting improprieties" at the search-engine company, Autonomy.

To account for it, HP took an $8.8 billion charge in its latest quarter. HP's stock lost $1.59 to $11.71.

A warning from the Federal Reserve chairman, Ben Bernanke, about the dangers of the "fiscal cliff" also weighed on the market in afternoon trading. The Dow Jones industrial average dropped as much as 94 points shortly after Bernanke spoke.

But the stock market crept higher through the late afternoon and ended the day flat. The Dow dropped 7.45 points to close at 12,788.51. The Standard & Poor's 500 index gained 0.92 point to 1,387.81.

On Monday, the Dow soared 207 points as investors focused on prospects for a deal between the White House and congressional Republicans to avoid the cliff, tax increases and government spending cuts set to take effect Jan. 1.

In a speech to the Economic Club of New York on Tuesday, Bernanke urged Congress to take action. Asked in a Q&A session whether the Fed could limit the economic hit posed by the budget-tightening measures, Bernanke said: "If the economy goes off the broad fiscal cliff, I don't think the Fed has the tools to offset that."

Many investors expect financial markets to turn turbulent when Congress returns from its Thanksgiving recess and begins bargaining with the White House to avoid the fiscal cliff.

John Linahan, head of T. Rowe Price's U.S. equity group, said that if those negotiations stretch into late December, the stock market could resemble the wild trading of August 2011, when markets flipped from big gains one day to steep losses the next.

Energy stocks and the price of crude oil fell after the president of Egypt predicted that Israel's weeklong offensive in the Gaza Strip would end in hours and the Israeli prime minister said Israel would be a "willing partner" to a cease-fire.

The NYSE DOW closed LOWER ▼ -7.45 points or ▼ -0.06% Tuesday, 20 November 2012
Symbol …........Last ......Change.....
Dow_Jones 12,788.51 ▼ -7.45 ▼ -0.06%
Nasdaq____ 2,916.68 ▲ 0.61 ▲ 0.02%
S&P_500____ 1,387.81 ▲ 0.92 ▲ 0.07%
30_Yr_Bond____ 2.809 ▲ 0.05 ▲ 1.70%

NYSE Volume 3,210,412,750
Nasdaq Volume 1,592,171,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,748.10 ▲ 10.44 ▲ 0.18%
DAX_____ 7,172.99 ▲ 49.15 ▲ 0.69%
CAC_40__ 3,462.06 ▲ 22.48 ▲ 0.65%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,407.50 ▲ 24.90 ▲ 0.57%
Shanghai_Comp 2,008.92 ▼ -8.06 ▼ -0.40%
Taiwan_Weight 7,145.77 ▲ 16.73 ▲ 0.23%
Nikkei_225____ 9,142.64 ▼ -10.56 ▼ -0.12%
Hang_Seng____ 21,228.28 ▲ 53.93 ▼ -0.16%
Strait_Times___ 2,958.41 ▲ 7.48 ▲ 0.25%
NZX_50_Index__ 3,972.97 ▲ 30.37 ▲ 0.77%

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Stocks end flat after HP shocker and Fed warning

Stocks finish flat despite HP surprise and a warning from Fed chief

Associated Press

Falling oil prices and a surprise announcement from Hewlett-Packard weighed on technology and energy stocks Tuesday.

HP plunged 12 percent after executives said that a company HP bought for $10 billion last year lied about its finances. CEO Meg Whitman said that there were "serious accounting improprieties" at the search-engine company, Autonomy.

To account for it, HP took an $8.8 billion charge in its latest quarter. HP's stock lost $1.59 to $11.71.

A warning from the Federal Reserve chairman, Ben Bernanke, about the dangers of the "fiscal cliff" also weighed on the market in afternoon trading. The Dow Jones industrial average dropped as much as 94 points shortly after Bernanke spoke.

But the stock market crept higher through the late afternoon and ended the day flat. The Dow dropped 7.45 points to close at 12,788.51. The Standard & Poor's 500 index gained 0.92 point to 1,387.81.

On Monday, the Dow soared 207 points as investors focused on prospects for a deal between the White House and congressional Republicans to avoid the cliff, tax increases and government spending cuts set to take effect Jan. 1.

In a speech to the Economic Club of New York on Tuesday, Bernanke urged Congress to take action. Asked in a Q&A session whether the Fed could limit the economic hit posed by the budget-tightening measures, Bernanke said: "If the economy goes off the broad fiscal cliff, I don't think the Fed has the tools to offset that."

Many investors expect financial markets to turn turbulent when Congress returns from its Thanksgiving recess and begins bargaining with the White House to avoid the fiscal cliff.

John Linahan, head of T. Rowe Price's U.S. equity group, said that if those negotiations stretch into late December, the stock market could resemble the wild trading of August 2011, when markets flipped from big gains one day to steep losses the next.

Energy stocks and the price of crude oil fell after the president of Egypt predicted that Israel's weeklong offensive in the Gaza Strip would end in hours and the Israeli prime minister said Israel would be a "willing partner" to a cease-fire.

Crude oil was down $2.53, or 2.8 percent, to $86.75 per barrel. It traded above $89 earlier in the day. Energy stocks in the S&P slipped 0.4 percent as a group. Tech stocks fared the worst, losing 0.6 percent.

The Nasdaq composite index gained 0.61 of a point to 2,916.68. The yield on the benchmark 10-year U.S. Treasury note rose to 1.66 percent.

Among stocks making headlines:

”” Hormel Foods dropped $1.25, or 4 percent, to $30.05 after its earnings and revenue fell below Wall Street expectations. The company said sales of Spam remained strong, and it increased its annual dividend 13 percent, to 68 cents per share.

”” Best Buy fell $1.79, or 13 percent, to $11.96, its lowest in more than a decade. The company, which has struggled for years against increased competition from online electronics retailers, turned in another dismal earnings report.

”” Krispy Kreme Doughnuts climbed $1.77, or 23 percent, to $9.31 after it forecast earnings for 2013 above what Wall Street was expecting.

”” Green Mountain Coffee rose 54 cents, or 2 percent, to $27.87 after picking a new CEO, Brian Kelley of Coca-Cola.

”” Groupon gained 27 cents, or 9 percent, to $3.37 after a hedge fund, Tiger Global, said it had bought a 10 percent stake in the company.

 

[bigdog]

Source: http://finance.yahoo.com

The stock market crept higher Wednesday ahead of the Thanksgiving holiday. Major market indexes got a slight lift after news broke of a cease-fire agreement between Israel and Hamas in the Gaza Strip.

The truce was announced by Egypt's foreign minister and confirmed by Israeli Prime Minister Benjamin Netanyahu. A week of fighting has killed more than 140 Palestinians and five Israelis.

The Dow Jones industrial average climbed 48.38 points to 12,836.89. Three of the most expensive stocks in the average ”” Boeing, IBM and United Technologies ”” each rose more than 60 cents. Higher-priced stocks in the Dow carry more weight.

The Labor Department said that first-time applications for unemployment benefits fell by 41,000 last week to 410,000. The figure remains temporarily high because of Superstorm Sandy and was in line with what economists had expected.

"The news today didn't mess anything up," said Harry Clark, CEO of Clark Capital Management, an investment advisory firm in Philadelphia. "With no bad news, this market will drift higher."

That's partially because investors have stopped worrying as much about the "fiscal cliff" of tax increases and government spending cuts that are set to take effect Jan. 1, Clark said.

Over the past week, congressional Republicans and Democrats have made conciliatory remarks and raised hopes that they will reach a deal to stave off the full effect of the budget-tightening measures.

While the cuts would hurt the economy gradually, they could be enough to push the U.S. back into recession next year, economists have warned.

"Both sides appear to have extended an olive branch," said JJ Kinahan, chief derivatives strategist at TD Ameritrade. "The assumption now is that, it may not be pretty, but at the end of the day they'll get some compromise worked out."

In other Wednesday trading, the Standard & Poor's 500 index gained 3.22 points to 1,391.03. Utilities fell the most, while telecommunication companies rose the most, but no category moved more than 0.6 percent.

The Nasdaq composite index rose 9.87 points to 2,926.55. In the bond market, the yield on the benchmark 10-year U.S. Treasury note inched up to 1.68 percent.

The NYSE DOW closed HIGHER ▲ 48.38 points or ▲ 0.38% Wednesday, 21 November 2012
Symbol …........Last ......Change.....
Dow_Jones 12,836.89 ▲ 48.38 ▲ 0.38%
Nasdaq____ 2,926.55 ▲ 9.87 ▲ 0.34%
S&P_500____ 1,391.03 ▲ 3.22 ▲ 0.23%
30_Yr_Bond____ 2.830 ▲ 0.02 ▲ 0.75%

NYSE Volume 2,647,792,250
Nasdaq Volume 1,426,227,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,752.03 ▲ 3.93 ▲ 0.07%
DAX_____ 7,184.71 ▲ 11.72 ▲ 0.16%
CAC_40__ 3,477.36 ▲ 15.30 ▲ 0.44%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,390.70 ▼ -16.80 ▼ -0.38%
Shanghai_Comp 2,030.32 ▲ 21.40 ▲ 1.07%
Taiwan_Weight 7,088.49 ▼ -57.28 ▼ -0.80%
Nikkei_225____ 9,222.52 ▲ 79.88 ▲ 0.87%
Hang_Seng____ 21,524.36 ▲ 53.93 ▲ 1.39%
Strait_Times___ 2,960.30 ▲ 1.48 ▲ 0.05%
NZX_50_Index__ 3,971.23 ▼ -1.74 ▼ -0.04%

http://finance.yahoo.com/news/stocks-edge-ahead-thanksgiving-break-192049198.html

Stocks edge up ahead of Thanksgiving break

Stocks creep higher on Wall Street ahead of Thanksgiving holiday

Associated Press

The stock market crept higher Wednesday ahead of the Thanksgiving holiday. Major market indexes got a slight lift after news broke of a cease-fire agreement between Israel and Hamas in the Gaza Strip.

The truce was announced by Egypt's foreign minister and confirmed by Israeli Prime Minister Benjamin Netanyahu. A week of fighting has killed more than 140 Palestinians and five Israelis.

The Dow Jones industrial average climbed 48.38 points to 12,836.89. Three of the most expensive stocks in the average ”” Boeing, IBM and United Technologies ”” each rose more than 60 cents. Higher-priced stocks in the Dow carry more weight.

The Labor Department said that first-time applications for unemployment benefits fell by 41,000 last week to 410,000. The figure remains temporarily high because of Superstorm Sandy and was in line with what economists had expected.

"The news today didn't mess anything up," said Harry Clark, CEO of Clark Capital Management, an investment advisory firm in Philadelphia. "With no bad news, this market will drift higher."

That's partially because investors have stopped worrying as much about the "fiscal cliff" of tax increases and government spending cuts that are set to take effect Jan. 1, Clark said.

Over the past week, congressional Republicans and Democrats have made conciliatory remarks and raised hopes that they will reach a deal to stave off the full effect of the budget-tightening measures.

While the cuts would hurt the economy gradually, they could be enough to push the U.S. back into recession next year, economists have warned.

"Both sides appear to have extended an olive branch," said JJ Kinahan, chief derivatives strategist at TD Ameritrade. "The assumption now is that, it may not be pretty, but at the end of the day they'll get some compromise worked out."

In other Wednesday trading, the Standard & Poor's 500 index gained 3.22 points to 1,391.03. Utilities fell the most, while telecommunication companies rose the most, but no category moved more than 0.6 percent.

The Nasdaq composite index rose 9.87 points to 2,926.55. In the bond market, the yield on the benchmark 10-year U.S. Treasury note inched up to 1.68 percent.

The quiet trading followed a largely uneventful Tuesday. The Dow dropped as much as 94 points after a warning from Federal Reserve Chairman Ben Bernanke about federal budget talks, then recovered to end with just a seven-point loss.

The stock market will be closed Thursday for Thanksgiving and will close early Friday. Congress has the week off and will take up budget negotiations after its members return from the break next week.

Among companies making news:

”” Deere, the maker of tractors and other farm and construction equipment, dropped 4 percent. It reported a quarterly profit of $1.75 per share, missing Wall Street expectations of $1.88.

”” Chipotle Mexican Group, the restaurant chain, climbed 3 percent. It announced late Tuesday that it would buy back an additional $100 million of its own stock. That's in addition to a $100 billion buyback plan launched Oct. 18.

”” Zale plunged 30 percent after the jewelry store chain reported a larger loss than analysts had expected. The company, which runs Zales stores and Piercing Pagoda kiosks, posted weaker sales. Jewelry store sales sank during the recession and have yet to recover.

 

[bigdog]

Source: http://finance.yahoo.com

An upbeat Chinese manufacturing survey helped offset the disappointment felt in the markets of another round of grim European figures Thursday ”” on a day that saw trading seriously curtailed by the U.S. Thanksgiving holiday.

The optimism in the markets came in the wake of a manufacturing survey from HSBC. Its purchasing managers index (PMI), a gauge of activity, rose to a 13-month high of 50.4 for November from the previous month's 49.5. Readings above 50 denote growth.

The figures gave Asian markets a boost earlier and that carried through into the European day. The FTSE 100 index of leading British shares closed up 0.7 percent at 5,791.03 while Germany's DAX rose 0.8 percent to 7,244.99. The CAC-40 in France ended 0.6 percent higher at 3,498.22.

The gains in Europe came despite a survey showing that the 17-country eurozone remains in recession. Financial information company Markit said its composite PMI, which assesses the service sector as well as manufacturing, for the eurozone rose to 45.8 in November from 45.7 the month before. That signals further contraction in the eurozone economy, which is now in recession, officially defined as two straight quarters of negative growth.

Earlier, Asian markets registered strong gains, boosted by the manufacturing news from China, a major market for many countries in the region.

Hong Kong's Hang Seng rose 1 percent to close at 21,743.20. South Korea's Kospi added 0.8 percent to 1,899.50 and Australia's S&P/ASX 200 gained 1 percent to 4,424.20.

Japan's Nikkei 225 index jumped 1.6 percent to close at 9,366.80 ”” its highest finish since May 2 ”” as a recently weakened yen provided a vital boost to the export-heavy index. The yen continued to fall back Thursday, with the dollar up 0.2 percent at 82.62 yen.

The NYSE DOW was closed for U.S. Thanksgiving holiday on Thursday November 23. On Wednesday November 22 the NYSE closed as follows
Symbol …........Last ......Change.....
Dow_Jones 12,836.89 ▲ 48.38 ▲ 0.38%
Nasdaq____ 2,926.55 ▲ 9.87 ▲ 0.34%
S&P_500____ 1,391.03 ▲ 3.22 ▲ 0.23%
30_Yr_Bond____ 2.830 ▲ 0.02 ▲ 0.75%

NYSE Volume 2,647,792,250
Nasdaq Volume 1,426,227,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,791.03 ▲ 39.00 ▲ 0.68%
DAX_____ 7,244.99 ▲ 60.28 ▲ 0.84%
CAC_40__ 3,498.22 ▲ 20.86 ▲ 0.60%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,432.40 ▲ 41.70 ▲ 0.95%
Shanghai_Comp 2,015.61 ▼ -14.71 ▼ -0.72%
Taiwan_Weight 7,105.76 ▲ 17.27 ▲ 0.24%
Nikkei_225____ 9,366.80 ▲ 144.28 ▲ 1.56%
Hang_Seng____ 21,743.20 ▲ 53.93 ▲ 1.02%
Strait_Times___ 2,986.63 ▲ 26.33 ▲ 0.89%
NZX_50_Index__ 3,997.21 ▲ 25.98 ▲ 0.65%

http://finance.yahoo.com/news/china...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

China economy hopes give markets a lift

Strong Chinese manufacturing survey lifts markets; trading modest as US closes for holiday

By Pan Pylas, AP Business Writer

An upbeat Chinese manufacturing survey helped offset the disappointment felt in the markets of another round of grim European figures Thursday ”” on a day that saw trading seriously curtailed by the U.S. Thanksgiving holiday.

The optimism in the markets came in the wake of a manufacturing survey from HSBC. Its purchasing managers index (PMI), a gauge of activity, rose to a 13-month high of 50.4 for November from the previous month's 49.5. Readings above 50 denote growth.

The figures gave Asian markets a boost earlier and that carried through into the European day. The FTSE 100 index of leading British shares closed up 0.7 percent at 5,791.03 while Germany's DAX rose 0.8 percent to 7,244.99. The CAC-40 in France ended 0.6 percent higher at 3,498.22.

The gains in Europe came despite a survey showing that the 17-country eurozone remains in recession. Financial information company Markit said its composite PMI, which assesses the service sector as well as manufacturing, for the eurozone rose to 45.8 in November from 45.7 the month before. That signals further contraction in the eurozone economy, which is now in recession, officially defined as two straight quarters of negative growth.

"The eurozone might be drifting further into recession, but it seems markets are content to ignore this and focus on figures which suggest that the situation in the global powers of the U.S. and China is improving," said Chris Beauchamp, market analyst at IG Index.

Over recent weeks, the focus of attention has been on two main issues ”” whether the White House can come to a deal with Congress on the budget and whether Greece will get its next batch of bailout cash.

Though a deal on either front has yet to be achieved, investors remain confident that their worst fears ”” a U.S. recession and a Greek exit from the euro ”” will be averted. A U.S. budget deal is expected to be achieved to avoid automatic tax increases and spending cuts at the start of next year, while Greece is tipped to finally get the approval for the release of the money it needs to avoid bankruptcy at a meeting in Brussels on Monday.

That confidence has boosted stocks this week as well as given the euro a boost. Europe's single currency was up a further 0.2 percent at $1.2871.

Earlier, Asian markets registered strong gains, boosted by the manufacturing news from China, a major market for many countries in the region.

Hong Kong's Hang Seng rose 1 percent to close at 21,743.20. South Korea's Kospi added 0.8 percent to 1,899.50 and Australia's S&P/ASX 200 gained 1 percent to 4,424.20.

Japan's Nikkei 225 index jumped 1.6 percent to close at 9,366.80 ”” its highest finish since May 2 ”” as a recently weakened yen provided a vital boost to the export-heavy index. The yen continued to fall back Thursday, with the dollar up 0.2 percent at 82.62 yen.

Oil prices were little changed as traders weighed up Thursday's economic figures as well as the cease-fire in Gaza. Benchmark crude for January delivery was down 21 cents at $87.17 per barrel in electronic trading on the New York Mercantile Exchange.

 

[bigdog]

Source: http://finance.yahoo.com

The stock market enjoyed some Black Friday cheer, rising sharply as shoppers braved the annual post-Thanksgiving rush. Major stock indexes closed one of their best weeks of the year.

Traders were encouraged by positive economic news from Germany and China, two engines of global growth. Technology stocks soared after a few weeks of selling. And early reports from retailers suggested strong consumer spending.

"Foot traffic appears heavier than we've seen in recent years, there are a lot of positive statements out of the companies themselves, and momentum appears to be strong," said JJ Kinahan, chief derivatives strategist at the brokerage TD Ameritrade.

Many stores opened earlier than ever this year, Kinahan said, allowing for earlier informal reports about their performance.

Technology stocks soared, lifting the Nasdaq composite index by more than 1 percent. Dell, chipmaker AMD and Hewlett-Packard were the top three gainers in the Standard & Poor's 500. Technology rose the most among the index's 10 industry groups.

The stocks were bouncing back after confidence in tech stocks declined broadly, Kinahan said. AMD dropped sharply in recent weeks as investors fretted about its solvency. HP plunged 12 percent on Tuesday after executives said that a company HP bought for $10 billion last year lied about its finances.

The Nasdaq ended up 40.30 points, or 1.4 percent, at 2,966.85. The Dow Jones industrial average gained 172.79, or 1.4 percent, to 13,009.69 ”” the first time since election day that the Dow closed above 13,000.

The S&P 500 added 18.12, or 1.3 percent, to 1409.15. The rally gave the S&P 500 its biggest weekly point gain since last December ”” 49 points, or 3.6 percent. The Dow gained 3.4 percent and the Nasdaq almost 4 percent for the week.

The market closed early, at 1 p.m. EST.

Stocks started strong after news that German business confidence rose unexpectedly in November after six straight declines. The gain in a closely watched index published by Munich's Ifo institute raised hopes that Europe's largest economy can continue to weather the continent's financial crisis.

The NYSE DOW closed HIGHER ▲ 172.79 points or ▲ 1.35% Friday, 23 November 2012
Symbol …........Last ......Change.....
Dow_Jones 13,009.68 ▲ 172.79 ▲ 1.35%
Nasdaq____ 2,966.85 ▲ 40.30 ▲ 1.38%
S&P_500____ 1,409.15 ▲ 18.12 ▲ 1.30%
30_Yr_Bond____ 2.830 ▲ 0.00 ▼ -0.04%

NYSE Volume 1,504,857,120
Nasdaq Volume 814,720,440

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,819.14 ▲ 28.11 ▲ 0.49%
DAX_____ 7,309.13 ▲ 64.14 ▲ 0.89%
CAC_40__ 3,528.80 ▲ 30.58 ▲ 0.87%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,431.50 ▼ -0.90 ▼ -0.02%
Shanghai_Comp 2,027.38 ▲ 11.77 ▲ 0.58%
Taiwan_Weight 7,326.01 ▲ 220.25 ▲ 3.10%
Nikkei_225____ 9,366.80 ▲ 144.28 ▲ 1.56%
Hang_Seng____ 21,913.98 ▲ 53.93 ▲ 0.79%
Strait_Times___ 2,989.28 ▲ 2.65 ▲ 0.09%
NZX_50_Index__ 4,008.34 ▲ 11.12 ▲ 0.28%

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Stocks soar on Black Friday; tech leads the way

US stocks rise sharply on economic news from Germany, China; Black Friday retail rush is on

By Daniel Wagner, AP Business Writer

The stock market enjoyed some Black Friday cheer, rising sharply as shoppers braved the annual post-Thanksgiving rush. Major stock indexes closed one of their best weeks of the year.

Traders were encouraged by positive economic news from Germany and China, two engines of global growth. Technology stocks soared after a few weeks of selling. And early reports from retailers suggested strong consumer spending.

"Foot traffic appears heavier than we've seen in recent years, there are a lot of positive statements out of the companies themselves, and momentum appears to be strong," said JJ Kinahan, chief derivatives strategist at the brokerage TD Ameritrade.

Many stores opened earlier than ever this year, Kinahan said, allowing for earlier informal reports about their performance.

Technology stocks soared, lifting the Nasdaq composite index by more than 1 percent. Dell, chipmaker AMD and Hewlett-Packard were the top three gainers in the Standard & Poor's 500. Technology rose the most among the index's 10 industry groups.

The stocks were bouncing back after confidence in tech stocks declined broadly, Kinahan said. AMD dropped sharply in recent weeks as investors fretted about its solvency. HP plunged 12 percent on Tuesday after executives said that a company HP bought for $10 billion last year lied about its finances.

The Nasdaq ended up 40.30 points, or 1.4 percent, at 2,966.85. The Dow Jones industrial average gained 172.79, or 1.4 percent, to 13,009.69 ”” the first time since election day that the Dow closed above 13,000.

The S&P 500 added 18.12, or 1.3 percent, to 1409.15. The rally gave the S&P 500 its biggest weekly point gain since last December ”” 49 points, or 3.6 percent. The Dow gained 3.4 percent and the Nasdaq almost 4 percent for the week.

The market closed early, at 1 p.m. EST.

Stocks started strong after news that German business confidence rose unexpectedly in November after six straight declines. The gain in a closely watched index published by Munich's Ifo institute raised hopes that Europe's largest economy can continue to weather the continent's financial crisis.

China's manufacturing expanded for the first time in 13 months in November, the latest sign that the world's second-biggest economy is recovering from its deepest slump since the 2008 global crisis. HSBC Corp. said its monthly Purchasing Managers' Index improved to 50.4 for November. Any number above 50 indicates expansion.

The PMI measures overall manufacturing activity by surveying indicators including orders, employment and production. The result was released Thursday, when the U.S. market was closed for Thanksgiving.

Around the U.S., shoppers flocked to malls and logged on to computers to take part in the annual cheer-fueled retail rush known as Black Friday.

Target and Toys R Us welcomed buyers on Thanksgiving evening. Retailers are also trying to draw shoppers with free layaway and shipping, by matching prices of online rivals and by beefing up mobile shopping apps.

Retail is a key driver of the nation's economy. Consumer spending accounts for about 70 percent of U.S. economic activity. November and December, which can account for as much as 40 percent of a retailer's annual revenue, are crucial for stores.

The Friday after Thanksgiving is known as Black Friday because it begins the period in which many retailers turn profitable for the year. Traders will be looking for signs about how enthusiastically Americans are spending. That could reflect the momentum of the economic recovery.

Wal-Mart rose $1.31, or 1.9 percent, to $70.20. Macy's gained 72 cents, or 1.8 percent, to $41.73.

Trading volume on Wall Street was light, with many investors away for an extended weekend after Thanksgiving. The rally's strength will be tested on Monday, as many traders return to their desks and retailers begin to release hard data about their holiday sales results, Kinahan said.

"It's great when something like this happens, but on a half-day without the major players in there, it's not so surprising," he said.

European indexes added to earlier gains after Wall Street opened and closed higher. The FTSE 100 index of leading British shares rose 0.5 percent. Germany's DAX and France's CAC-40 both added 0.9 percent.

Investors were monitoring developments in Brussels, where European Union leaders are trying to agree on a $1.25 trillion long-term spending plan for the 27-nation bloc. Markets expect that another meeting will be needed for an agreement.

Among the stocks making big moves:

”” MAP Pharmaceuticals spiked after the company announced that the Food and Drug Administration will review its experimental migraine drug Levadex. The stock rose $2.60, or 20.3 percent, to $15.42.

”” KIT Digital Inc., a video software and technology company, lost two-thirds of its value after the company's former chief executive accused it of blaming prior management for its financial problems. Two days earlier, KIT said it would restate its financial results because of accounting errors. The stock lost $1.33, or 64.3 percent, to 74 cents.

Among tech's big gainers:

”” Research in Motion Ltd. jumped on growing optimism for an earlier-than-expected launch of its delayed BlackBerry 10 smartphone. A senior executive from the Canadian company said earlier this month that Research In Motion, or RIM, will release the latest version of its smartphone "not long after" a Jan. 30 event. One analyst saw that as an indication that the products are to be unveiled in February. U.S.-traded shares of RIM rose $1.40, or 13.7 percent, to $11.66.

”” Dell rose 49 cents, or 5.4 percent, to $9.55.

”” HP added 50 cents, or 4.2 percent, to $12.44.

”” AMD rose 8 cents, or 4.3 percent, to $1.95.

6813

 

[bigdog]

Source: http://finance.yahoo.com

Wall Street came back to work after the Thanksgiving weekend and faced leftover worries about the "fiscal cliff" and the European debt crisis. Stocks retreated after one of their best weeks of the year.

The Dow Jones industrial average fell 42.31 points to 12,967.37. The Standard & Poor's 500 index declined 2.86 to 1,406.29. And the Nasdaq composite index managed a 9.93-point increase to 2,976.78.

Utility stocks rose the most, while telecommunications companies fell the most.

The major U.S. economic reports were not due until later in the week, leaving investors to rehash the European debt crisis and talks in Washington over the "cliff" of tax increases and government spending cuts set to take effect Jan. 1.

"The themes seem about as recycled as Thanksgiving turkey," David Kelly, chief global strategist at JPMorgan Funds, wrote in a note to clients.

He expected a better read on the economy later this week, with reports on consumer confidence on Tuesday and unemployment claims and third-quarter economic growth on Thursday.

Scott Carmack, co-portfolio manager at Leader Capital in Portland, Ore., said the decline Monday was all but inevitable after last week, when the Dow climbed 3.3 percent because of encouraging signs from Washington and good economic news overseas.

That made Monday a good day to cash out on last week's gains, Carmack said, especially because traders aren't sure how the fiscal cliff will affect the market for the rest of the year.

"Monday is a good day to take profits," Carmack said. "No one was in on Friday, so they're doing it Monday."

The NYSE DOW closed LOWER ▼ -42.31 points or ▼ -0.33% Monday, 26 November 2012
Symbol …........Last ......Change.....
Dow_Jones 12,967.37 ▼ -42.31 ▼ -0.33%
Nasdaq____ 2,976.78 ▲ 9.93 ▲ 0.33%
S&P_500____ 1,406.29 ▼ -2.86 ▼ -0.20%
30_Yr_Bond____ 2.801 ▼ -0.03 ▼ -0.99%

NYSE Volume 2,921,833,250
Nasdaq Volume 1,559,286,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,786.72 ▼ -32.42 ▼ -0.56%
DAX_____ 7,292.03 ▼ -17.10 ▼ -0.23%
CAC_40__ 3,500.94 ▼ -27.86 ▼ -0.79%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,443.50 ▲ 12.00 ▲ 0.27%
Shanghai_Comp 2,017.46 ▼ -9.92 ▼ -0.49%
Taiwan_Weight 7,407.37 ▲ 81.36 ▲ 1.11%
Nikkei_225____ 9,388.94 ▲ 22.14 ▲ 0.24%
Hang_Seng____ 21,861.81 ▲ 53.93 ▼ -0.24%
Strait_Times___ 3,006.37 ▲ 17.09 ▲ 0.57%
NZX_50_Index__ 4,012.03 ▲ 3.69 ▲ 0.09%

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Stocks end lower after a strong week

Stocks finish lower after a strong week; 'fiscal cliff' and Europe on investors' minds

By Christina Rexrode, AP Business Writer

Wall Street came back to work after the Thanksgiving weekend and faced leftover worries about the "fiscal cliff" and the European debt crisis. Stocks retreated after one of their best weeks of the year.

The Dow Jones industrial average fell 42.31 points to 12,967.37. The Standard & Poor's 500 index declined 2.86 to 1,406.29. And the Nasdaq composite index managed a 9.93-point increase to 2,976.78.

Utility stocks rose the most, while telecommunications companies fell the most.

The major U.S. economic reports were not due until later in the week, leaving investors to rehash the European debt crisis and talks in Washington over the "cliff" of tax increases and government spending cuts set to take effect Jan. 1.

"The themes seem about as recycled as Thanksgiving turkey," David Kelly, chief global strategist at JPMorgan Funds, wrote in a note to clients.

He expected a better read on the economy later this week, with reports on consumer confidence on Tuesday and unemployment claims and third-quarter economic growth on Thursday.

Scott Carmack, co-portfolio manager at Leader Capital in Portland, Ore., said the decline Monday was all but inevitable after last week, when the Dow climbed 3.3 percent because of encouraging signs from Washington and good economic news overseas.

That made Monday a good day to cash out on last week's gains, Carmack said, especially because traders aren't sure how the fiscal cliff will affect the market for the rest of the year.

"Monday is a good day to take profits," Carmack said. "No one was in on Friday, so they're doing it Monday."

The National Retail Federation reported that 247 million shoppers visited stores and shopping websites during the long Thanksgiving weekend, up 9 percent from a year ago. They spent an average of $423, up 6 percent.

Some worry that the momentum won't last, and that deep discounting will hurt stores. Macy's fell $1.87, or 4.5 percent, to $39.86. Saks dropped 29 cents, or 2.8 percent, to $10.23. Target declined $1.71, or 2.6 percent ,to $62.77.

Abercrombie & Fitch was an exception, rising 21 cents to $44.61.

The cliff cast a pall. A government report released Monday warned that a sudden increase in taxes would crimp the spending of middle class families next year, and some analysts wondered whether families would curb spending before the year is over.

The report, by President Barack Obama's National Economic Council and his Council of Economic Advisers, estimated that a married couple earning between $50,000 and $85,000 with two children would see a $2,200 increase in their taxes.

In Europe, leaders of European Union countries tried to reach a deal to lend more money to debt-crippled Greece. The ministers have failed twice in the last two weeks to reach an agreement to release €44 billion, or $56.8 billion.

In the U.S., though, "Most of these uncertainties have been with us for quite some time," Sam Stovall, chief equity strategist at S&P Capital IQ, wrote in a note Monday, "and are now regarded by many as annoyances to resolve rather than obstacles to fear."

In the bond market, the yield on the 10-year U.S. Treasury note fell 2 percentage points to 1.66 percent from late Friday.

In other stock trading:

”” McGraw-Hill announced it would sell its education unit to a private equity firm. The company's stock rose 20 cents, or 0.4 percent, to $51.89.

”” Facebook stock jumped $1.94, or 8.1 percent, to $25.94 after a Bernstein analyst upgraded his rating of the company, predicting it will beat revenue expectations for the near future.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks slumped on Wall Street Tuesday after Senate Majority Leader Harry Reid said he was frustrated by the lack of progress in talks over the U.S. budget impasse in Washington.

The Dow Jones industrial average closed down 89.24 points to 12,878.13. The Dow and other indexes had been moving between small gains and losses for most of the day, then turned lower after Reid's comments in the early afternoon.

"We have to get away from the happy talk and start talking about specific things," Reid told reporters in televised comments.

The Standard & Poor's 500 lost 7.35 points to 1,398.94 and the Nasdaq composite index lost 8.99 points to 2,967.79.

Worries about the budget talks have been hanging over the stock market for weeks. Stocks slumped immediately after the Nov. 6 election over concerns that politicians would be unable to reach a deal to trim the deficit before a Jan. 1 deadline.

If that deadline isn't met, under current law a series of sharp tax increases and spending cuts will come into effect. Economists have warned that the measures could push the economy back into a recession. That deadline has come to be known as the "fiscal cliff."

"The markets are getting whipped around, rather sharply, on headlines," said Sal Arnuk, co-founder at Themis Trading. "For example, Harry Reid feeling we're not making enough progress on the fiscal cliff."

Last week stocks pared some of the losses that followed the election. President Barack Obama plans to make a public case this week for his strategy for dealing with the issue as he pressures Republicans to allow tax increases on the wealthy while extending tax cuts for families earning $250,000 or less.

The S&P declined as much as 5 percent in the weeks after voters returned a divided government to power, with President Barack Obama returning to the White House and Republicans retaining control of the House.

Earlier in the day, investors took little comfort from the latest deal to deliver financial aid to Greece and increases in U.S. consumer confidence and orders for machinery and equipment.

The NYSE DOW closed LOWER ▼ -89.24 points or ▼ -0.69% Tuesday, 27 November 2012
Symbol …........Last ......Change.....
Dow_Jones 12,878.13 ▼ -89.24 ▼ -0.69%
Nasdaq____ 2,967.79 ▼ -8.99 ▼ -0.30%
S&P_500____ 1,398.94 ▼ -7.35 ▼ -0.52%
30_Yr_Bond____ 2.791 ▼ -0.01 ▼ -0.36%

NYSE Volume 3,294,930,000
Nasdaq Volume 1,762,521,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,799.71 ▲ 12.99 ▲ 0.22%
DAX_____ 7,332.33 ▲ 40.30 ▲ 0.55%
CAC_40__ 3,502.13 ▲ 1.19 ▲ 0.03%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,473.40 ▲ 29.90 ▲ 0.67%
Shanghai_Comp 1,991.17 ▼ -26.30 ▼ -1.30%
Taiwan_Weight 7,430.20 ▲ 22.83 ▲ 0.31%
Nikkei_225____ 9,423.30 ▲ 34.36 ▲ 0.37%
Hang_Seng____ 21,844.03 ▲ 53.93 ▼ -0.08%
Strait_Times___ 3,014.22 ▲ 9.72 ▲ 0.32%
NZX_50_Index__ 4,009.61 ▼ -2.42 ▼ -0.06%

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Stocks slide on 'fiscal cliff' warning

Stocks slide on Wall Street after Reid says little progress is being made in budget talks

By Steve Rothwell, AP Business Writer

Stocks slumped on Wall Street Tuesday after Senate Majority Leader Harry Reid said he was frustrated by the lack of progress in talks over the U.S. budget impasse in Washington.

The Dow Jones industrial average closed down 89.24 points to 12,878.13. The Dow and other indexes had been moving between small gains and losses for most of the day, then turned lower after Reid's comments in the early afternoon.

"We have to get away from the happy talk and start talking about specific things," Reid told reporters in televised comments.

The Standard & Poor's 500 lost 7.35 points to 1,398.94 and the Nasdaq composite index lost 8.99 points to 2,967.79.

Worries about the budget talks have been hanging over the stock market for weeks. Stocks slumped immediately after the Nov. 6 election over concerns that politicians would be unable to reach a deal to trim the deficit before a Jan. 1 deadline.

If that deadline isn't met, under current law a series of sharp tax increases and spending cuts will come into effect. Economists have warned that the measures could push the economy back into a recession. That deadline has come to be known as the "fiscal cliff."

"The markets are getting whipped around, rather sharply, on headlines," said Sal Arnuk, co-founder at Themis Trading. "For example, Harry Reid feeling we're not making enough progress on the fiscal cliff."

Last week stocks pared some of the losses that followed the election. President Barack Obama plans to make a public case this week for his strategy for dealing with the issue as he pressures Republicans to allow tax increases on the wealthy while extending tax cuts for families earning $250,000 or less.

The S&P declined as much as 5 percent in the weeks after voters returned a divided government to power, with President Barack Obama returning to the White House and Republicans retaining control of the House.

Earlier in the day, investors took little comfort from the latest deal to deliver financial aid to Greece and increases in U.S. consumer confidence and orders for machinery and equipment.

While stocks have gained this year as the Federal Reserve has maintained it bond-buying stimulus program, concern about global growth and the budget fight in Washington may limit further advances, said Uri Landesman, President of Platinum Partners, a New York-based hedge fund. The S&P is up 11 percent this year, the Dow 5 percent.

"The glass is half-empty right now," Landesman said.

The S&P rose as high as 1,465 in September, the highest in almost five years, after the Federal Reserve said it would extend its so-called quantitative easing program and buy more bonds. The program is intended to lower borrowing costs and stimulate hiring.

Two reports that suggested that the outlook for the U.S. economy may be improving failed to encourage investors to push stocks higher.

Consumer confidence rose this month to the highest level in almost five years, pushed up by steady improvement in hiring. The Conference Board's consumer confidence index rose to 73.7 in November from 73.1 in October. Both are the best readings since February 2008.

The government reported separately that U.S. companies increased their orders of machinery and equipment last month, a sign that business investment is rising. Orders rose 1.7 percent in October, the best showing since a 2.3 percent rise in May.

The yield on the 10-year Treasury note edged down to 1.65 percent.

Among other stocks making big moves:

””ConAgra advanced $1.34, or 4.7 percent, to $29.63 after it agreed to buy Ralcorp for $5 billion in a deal that will make it the nation's biggest maker of private-label foods. Ralcorp surged $18.57, or 26.4 percent, to $88.80.

””Corning Inc., a specialty glass maker, rose 78 cents, or 6.9 percent, to $12.13 after it said that North American television sales are stronger than expected in the fourth quarter, boosting demand for its products.

”” Las Vegas Sands Corp. rose $2.33, or 5.3 percent, to $46.36 after the casino operator said it would pay a special dividend of $2.75 per share, distributing about $2.26 billion to shareholders before the end of the year.

””Monster Beverage Corp. soared $6.69, or 13.3 percent, to $51.97 as concerns eased about increased regulation for the energy drink maker following a letter to senators, made public Tuesday, from the U.S. Food and Drug Administration.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks gained on signs that lawmakers are edging toward a deal that would help the U.S. avoid the "fiscal cliff."

Indexes shrugged off an early loss and rose in afternoon trading Wednesday. The Dow Jones industrial average closed up 106.98 points at 12,985.11. It had been down as much as 112 points in early trading.

The Standard and Poor's 500 was up 10.99 points at 1,409.93. The Nasdaq composite rose 23.99 points to at 2,991.78.

Huge tax increases and spending cuts will come into effect Jan. 1 if no deal on the U.S. budget is reached. Economists say the measures could push the country back into recession. President Barack Obama said he believed both parties can reach a "framework" on a debt-cutting deal before Christmas, while House Speaker John Boehner told reporters that he was optimistic a deal could be reached, according news outlets including CNBC.

Craig Johnson, a Minneapolis, Minn.-based technical market strategist at Piper Jaffray, said lawmakers realize that there is too much at stake to allow the deadline to pass.

"I don't think that anybody in Washington is going to do something so draconian, or so negative, that we're going to trigger a recession," Johnson said. "There will be some compromise."

Concern that the U.S. will go over the fiscal "cliff" has weighed on stocks since the Nov. 6 elections returned a divided government to power, with President Barack Obama staying in the White House and Republicans retaining control of the House.

Uncertainty about a possible increase in capital gains taxes has been prompting investors to sell stocks, said Johnson.

As the third-quarter corporate earnings period draws to a close, investors and traders have become increasingly fixated on the negotiations to cut the budget deficit. Before Wednesday's gain, the market slumped Tuesday after Senate Majority Leader Harry Reid said he was frustrated by the lack of progress in talks. The two moves canceled each other out, leaving both the Dow and the S&P 500 little changed for the week.

The NYSE DOW closed HIGHER ▲ 106.98 points or ▲ 0.83% Wednesday, 28 November 2012
Symbol …........Last ......Change.....
Dow_Jones 12,985.11 ▲ 106.98 ▲ 0.83%
Nasdaq____ 2,991.78 ▲ 23.99 ▲ 0.81%
S&P_500____ 1,409.93 ▲ 10.99 ▲ 0.79%
30_Yr_Bond____ 2.779 ▼ -0.01 ▼ -0.43%

NYSE Volume 3,324,628,500
Nasdaq Volume 1,673,082,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,803.28 ▲ 3.57 ▲ 0.06%
DAX_____ 7,343.41 ▲ 11.08 ▲ 0.15%
CAC_40__ 3,515.19 ▲ 13.06 ▲ 0.37%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,462.60 ▼ -10.80 ▼ -0.24%
Shanghai_Comp 1,973.52 ▼ -17.64 ▼ -0.89%
Taiwan_Weight 7,434.93 ▲ 4.73 ▲ 0.06%
Nikkei_225____ 9,308.35 ▼ -114.95 ▼ -1.22%
Hang_Seng____ 21,708.98 ▲ 53.93 ▼ -0.62%
Strait_Times___ 3,009.10 ▼ -2.81 ▼ -0.09%
NZX_50_Index__ 4,012.16 ▲ 2.55 ▲ 0.06%

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Stocks gain on hopes for a deal to avoid 'cliff'

Stocks advance on optimism that lawmakers are edging toward a deal to avoid the fiscal 'cliff'

By Steve Rothwell, AP Business Writer

Stocks gained on signs that lawmakers are edging toward a deal that would help the U.S. avoid the "fiscal cliff."

Indexes shrugged off an early loss and rose in afternoon trading Wednesday. The Dow Jones industrial average closed up 106.98 points at 12,985.11. It had been down as much as 112 points in early trading.

The Standard and Poor's 500 was up 10.99 points at 1,409.93. The Nasdaq composite rose 23.99 points to at 2,991.78.

Huge tax increases and spending cuts will come into effect Jan. 1 if no deal on the U.S. budget is reached. Economists say the measures could push the country back into recession. President Barack Obama said he believed both parties can reach a "framework" on a debt-cutting deal before Christmas, while House Speaker John Boehner told reporters that he was optimistic a deal could be reached, according news outlets including CNBC.

Craig Johnson, a Minneapolis, Minn.-based technical market strategist at Piper Jaffray, said lawmakers realize that there is too much at stake to allow the deadline to pass.

"I don't think that anybody in Washington is going to do something so draconian, or so negative, that we're going to trigger a recession," Johnson said. "There will be some compromise."

Concern that the U.S. will go over the fiscal "cliff" has weighed on stocks since the Nov. 6 elections returned a divided government to power, with President Barack Obama staying in the White House and Republicans retaining control of the House.

Uncertainty about a possible increase in capital gains taxes has been prompting investors to sell stocks, said Johnson.

As the third-quarter corporate earnings period draws to a close, investors and traders have become increasingly fixated on the negotiations to cut the budget deficit. Before Wednesday's gain, the market slumped Tuesday after Senate Majority Leader Harry Reid said he was frustrated by the lack of progress in talks. The two moves canceled each other out, leaving both the Dow and the S&P 500 little changed for the week.

"We're all on pins and needles waiting for every bit of news, or rumors, coming out of Washington," said Ryan Detrick, a Cincinnati, Ohio-based technical analyst at Schaeffer's Investment Research. "That's what Wall Street is focused on. Everybody is watching the fiscal cliff."

Many companies are making special end-of-year dividend payments or moving up their quarterly payouts because investors will have to pay higher taxes on dividend income starting in 2013, unless lawmakers reach a compromise on taxes and government spending.

Costco, the wholesale club operator, surged $6.07 to $102.58 after the company said it would pay a special dividend of $7 a share next month, in addition to its regular quarterly dividend. Las Vegas Sands Corp. rose 5.3 percent Tuesday after the casino operator said it would distribute about $2.26 billion to shareholders before the end of the year. It rose another 1.3 percent Wednesday, gaining 60 cents to $49.96.

With the market's attention focused on the outcome of the "cliff" negotiations, some investors caution that the weakness in third-quarter corporate earnings bode poorly for the stock market.

"Think of corporate earnings as the canary in the coal mine," said Douglas Cote, chief market strategist at ING U.S. Investment Management. "Corporations are the first ones to signal that there is something going on with economic growth around the world."

Company earnings fell 0.9 percent in the third quarter, data provider FactSet said in a report Nov. 23. If they earning finish the period lower, it would mark the first decline in three years.

In economic news, U.S. sales of new homes dipped 0.3 percent in October, though they're up 20.4 percent for the year, according to a government report. Stable home prices suggest the housing market is steadily recovering.

A pickup in consumer spending and steady home sales helped lift economic growth in October and early November in most parts of the United States, the Federal Reserve said in its Beige Book survey released Wednesday. The one exception was the Northeast, which was slowed by Superstorm Sandy.

The yield on the 10-year Treasury note fell to 1.63 percent from 1.64 percent.

Among stocks making big moves:

”” Green Mountain Coffee Roasters surged $7.91, or 27.3 percent, to $36.86 after the beleaguered coffee company reported strong fourth-quarter results and issued earnings and revenue forecasts that far exceeded the market's expectations.

””Fresh Market Inc. plunged $7.46, or 12 percent, to $52.78, after the company's fiscal third-quarter profit fell short of analysts' expectations.

 

[bigdog]

Source: http://finance.yahoo.com

Optimism that a budget deal will be reached in Washington sent stocks modestly higher Thursday. A pair of economic reports also brightened the mood.

The Dow Jones industrial average rose 36.71 points to close at 13,021.82.

The stock market took a brief turn lower when House Speaker John Boehner said little progress was being made in budget talks in Washington. The Dow was up as much as 77 points in morning trading, turned negative as Boehner made his remarks at 11:30 a.m., then slowly recovered in the afternoon.

Investors were encouraged by several positive economic reports, including a higher estimate of third-quarter U.S. economic growth, an increase in home sales and a drop in claims for unemployment benefits.

After a meeting with Treasury Secretary Tim Geithner, Boehner told reporters that Democrats still haven't said which cuts they would accept to government benefit programs, suggesting a final budget deal remains a long way off. Republicans have said that they are open to increasing tax revenues as part of an agreement but only if they're accompanied by significant cuts to spending.

Investors have been closely watching the talks between the White House and Congress over the "fiscal cliff", a reference to sharp government spending cuts and tax increases scheduled to start Jan. 1 unless a deal is reached to cut the budget deficit. New developments in the talks have whipsawed the market.

"It's a headline-watching market with this fiscal cliff," said David Brown, chief market strategist of the investment research firm Sabrient Systems.

Brown says the ongoing negotiations are likely to cause the stock market to take sudden turns in the weeks ahead. "But things seem to be moving in the right direction," Brown said. "I don't think either party wants to get pinned with hurting the market or the economy."

In other trading, the Standard & Poor's 500 rose 6.02 points to 1,415.95. The Nasdaq composite index gained 20.25 points to 3,012.03.

In the market for government bonds, the yield on the 10-year Treasury note slipped to 1.62 percent from 1.63 percent late Wednesday.

The NYSE DOW closed HIGHER ▲ 36.71 points or ▲ 0.28% Thursday, 29 November 2012
Symbol …........Last ......Change.....
Dow_Jones 13,021.82 ▲ 36.71 ▲ 0.28%
Nasdaq____ 3,012.03 ▲ 20.25 ▲ 0.68%
S&P_500____ 1,415.95 ▲ 6.02 ▲ 0.43%
30_Yr_Bond____ 2.796 ▲ 0.02 ▲ 0.61%

NYSE Volume 3,337,720,000
Nasdaq Volume 1,758,355,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,870.30 ▲ 67.02 ▲ 1.15%
DAX_____ 7,400.96 ▲ 57.55 ▲ 0.78%
CAC_40__ 3,568.88 ▲ 53.69 ▲ 1.53%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,490.10 ▲ 27.50 ▲ 0.62%
Shanghai_Comp 1,963.49 ▼ -10.04 ▼ -0.51%
Taiwan_Weight 7,503.55 ▲ 68.62 ▲ 0.92%
Nikkei_225____ 9,400.88 ▲ 92.53 ▲ 0.99%
Hang_Seng____ 21,922.89 ▲ 53.93 ▲ 0.99%
Strait_Times___ 3,045.90 ▲ 34.13 ▲ 1.13%
NZX_50_Index__ 4,016.77 ▲ 4.61 ▲ 0.12%

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Stocks rise and fall with twists in budget talks

Optimism over budget deal helps push stocks up; Boehner's remarks briefly rattle market

By Matthew Craft, AP Business Writer

Optimism that a budget deal will be reached in Washington sent stocks modestly higher Thursday. A pair of economic reports also brightened the mood.

The Dow Jones industrial average rose 36.71 points to close at 13,021.82.

The stock market took a brief turn lower when House Speaker John Boehner said little progress was being made in budget talks in Washington. The Dow was up as much as 77 points in morning trading, turned negative as Boehner made his remarks at 11:30 a.m., then slowly recovered in the afternoon.

Investors were encouraged by several positive economic reports, including a higher estimate of third-quarter U.S. economic growth, an increase in home sales and a drop in claims for unemployment benefits.

After a meeting with Treasury Secretary Tim Geithner, Boehner told reporters that Democrats still haven't said which cuts they would accept to government benefit programs, suggesting a final budget deal remains a long way off. Republicans have said that they are open to increasing tax revenues as part of an agreement but only if they're accompanied by significant cuts to spending.

Investors have been closely watching the talks between the White House and Congress over the "fiscal cliff", a reference to sharp government spending cuts and tax increases scheduled to start Jan. 1 unless a deal is reached to cut the budget deficit. New developments in the talks have whipsawed the market.

"It's a headline-watching market with this fiscal cliff," said David Brown, chief market strategist of the investment research firm Sabrient Systems.

Brown says the ongoing negotiations are likely to cause the stock market to take sudden turns in the weeks ahead. "But things seem to be moving in the right direction," Brown said. "I don't think either party wants to get pinned with hurting the market or the economy."

In other trading, the Standard & Poor's 500 rose 6.02 points to 1,415.95. The Nasdaq composite index gained 20.25 points to 3,012.03.

In the market for government bonds, the yield on the 10-year Treasury note slipped to 1.62 percent from 1.63 percent late Wednesday.

Stock in Guess gained 55 cents to $25.81 after the clothing maker joined the ranks of companies pledging special dividends to shareholders before favorable tax rates on dividends expire at the end of the year. The clothing company said it will make a one-time payment of $1.20 per share on top of its regular quarterly dividend of 20 cents.

Dividends, now taxed at 15 percent, will be treated like ordinary income next year unless Congress and the White House extend current tax breaks as part of a budget deal.

The Commerce Department raised its estimate for U.S. economic growth to an annual rate of 2.7 percent in the July-through-September period. That's much better than the 2 percent rate estimated a month ago and more than twice the 1.3 percent rate logged in the three previous months.

The Labor Department also reported that the number of Americans applying for unemployment benefits dropped to 393,000 last week, in line with what economists had expected. It was the second straight drop after Superstorm Sandy drove applications higher earlier this month.

Target, The Gap, and others retail stores posted poor sales numbers, driving their stocks lower. It's a crucial time for retailers, who log a huge chunk of their yearly profits in the weeks running up to the holidays.

Among other companies making news:

”” Kohl's plunged 12 percent, the biggest drop in the S&P 500 index. The company posted a drop in sales and said stores in the Mid-Atlantic and the Northeast, areas hit by Superstorm Sandy, fared the worst. Kohl's stock lost $6.13 to $45.02.

”” Kroger Co. rose $1.19 to $26.25 after the supermarket chain reported stronger quarterly profits and raised its earnings outlook for the year. Stronger sales helped the operator of Fred Meyer and Food 4 Less stores post better results than analysts had expected.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks ended the week more or less where they started it. Investors were watching closely while lawmakers in Washington worked at thrashing out a budget agreement.

After inching 3.76 points higher on Friday, the Dow Jones industrial average closed at 13,025.58. That's a gain of just 16 points for the week, one of the Dow's smallest moves this year.

Along the way, the market had several sharp turns both up and down after key figures in the talks, such as House Speaker John Boehner and President Barack Obama, offered contrasting views about how well the talks were going.

The Standard and Poor's index edged up 0.23 point to 1,416.25. The index is up 0.5 percent for the week. The Nasdaq composite was down 1.79 points to 3,010.24. It gained 1.46 percent for the week.

The main driver for markets this week has been the talks between the White House and Congress over the "fiscal cliff," a series of sharp government spending cuts and tax increases scheduled to start Jan. 1 unless an agreement is reached to cut the budget deficit. Economists say that those measures, if implemented, could push the U.S. economy back into a recession.

Optimism that a deal will be done was greeted with rallies, while pessimistic comments from lawmakers were followed by sell-offs.

"Right now the market is just going to be held hostage as to what happens in the next five hours, versus what's going to happen in the next five years," said Dan Veru, chief investment officer at Palisade Capital Management, in Fort Lee, New Jersey.

President Obama argued Friday that allowing taxes to rise for the middle class would amount to a "lump of coal" for Christmas, while Boehner declared that negotiations to surmount a looming fiscal cliff are going "almost nowhere."

Speaking at a toy factory, the president said Republicans should extend existing Bush-era tax rates for households earning $250,000 or less, while allowing increases to kick in for the wealthy. On Capitol Hill, Boehner argued that Obama's latest offer ”” to raise revenue by $1.6 trillion over the next decade ”” would be a "crippling blow" to an economy that is still struggling to find its footing.

"My sense is that investors are going to be busy reading headlines every day for the next three weeks," said Jack Ablin, chief investment officer at BMO Group in Chicago.

Ablin says that he expects policy makers to reach a temporary agreement on the budget before year-end, before coming to a "Grand Bargain" next year. He believes improving consumer confidence and rising house prices will underpin the economy and support demand for stocks.

Stocks are higher for the year. The Dow is up 6.5 percent, the S&P 500 index 12 percent. The indexes are on track to end the month little changed.

The NYSE DOW closed HIGHER ▲ 3.76 points or ▲ 0.03% Friday, 30 November 2012
Symbol …........Last ......Change.....
Dow_Jones 13,025.58 ▲ 3.76 ▲ 0.03%
Nasdaq____ 3,010.24 ▼ -1.79 ▼ -0.06%
S&P_500____ 1,416.18 ▲ 0.23 ▲ 0.02%
30_Yr_Bond____ 2.794 ▼ 0.00 ▼ -0.07%

NYSE Volume 3,812,737,000
Nasdaq Volume 2,186,128,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,866.82 ▼ -3.48 ▼ -0.06%
DAX_____ 7,405.50 ▲ 4.54 ▲ 0.06%
CAC_40__ 3,557.28 ▼ -11.60 ▼ -0.33%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,518.00 ▲ 27.90 ▲ 0.62%
Shanghai_Comp 1,980.12 ▲ 16.63 ▲ 0.85%
Taiwan_Weight 7,580.17 ▲ 76.62 ▲ 1.02%
Nikkei_225____ 9,446.01 ▲ 45.13 ▲ 0.48%
Hang_Seng____ 22,030.39 ▲ 53.93 ▲ 0.49%
Strait_Times___ 3,069.95 ▲ 24.05 ▲ 0.79%
NZX_50_Index__ 4,050.09 ▲ 33.31 ▲ 0.83%

http://finance.yahoo.com/news/stocks-inch-lower-investors-wait-171524177.html

Stocks inch lower as investors wait on budget

Stocks edge lower on Wall Street as investors wait on news from budget negotiations

By Steve Rothwell, AP Business Writer

Stocks ended the week more or less where they started it. Investors were watching closely while lawmakers in Washington worked at thrashing out a budget agreement.

After inching 3.76 points higher on Friday, the Dow Jones industrial average closed at 13,025.58. That's a gain of just 16 points for the week, one of the Dow's smallest moves this year.

Along the way, the market had several sharp turns both up and down after key figures in the talks, such as House Speaker John Boehner and President Barack Obama, offered contrasting views about how well the talks were going.

The Standard and Poor's index edged up 0.23 point to 1,416.25. The index is up 0.5 percent for the week. The Nasdaq composite was down 1.79 points to 3,010.24. It gained 1.46 percent for the week.

The main driver for markets this week has been the talks between the White House and Congress over the "fiscal cliff," a series of sharp government spending cuts and tax increases scheduled to start Jan. 1 unless an agreement is reached to cut the budget deficit. Economists say that those measures, if implemented, could push the U.S. economy back into a recession.

Optimism that a deal will be done was greeted with rallies, while pessimistic comments from lawmakers were followed by sell-offs.

"Right now the market is just going to be held hostage as to what happens in the next five hours, versus what's going to happen in the next five years," said Dan Veru, chief investment officer at Palisade Capital Management, in Fort Lee, New Jersey.

President Obama argued Friday that allowing taxes to rise for the middle class would amount to a "lump of coal" for Christmas, while Boehner declared that negotiations to surmount a looming fiscal cliff are going "almost nowhere."

Speaking at a toy factory, the president said Republicans should extend existing Bush-era tax rates for households earning $250,000 or less, while allowing increases to kick in for the wealthy. On Capitol Hill, Boehner argued that Obama's latest offer ”” to raise revenue by $1.6 trillion over the next decade ”” would be a "crippling blow" to an economy that is still struggling to find its footing.

"My sense is that investors are going to be busy reading headlines every day for the next three weeks," said Jack Ablin, chief investment officer at BMO Group in Chicago.

Ablin says that he expects policy makers to reach a temporary agreement on the budget before year-end, before coming to a "Grand Bargain" next year. He believes improving consumer confidence and rising house prices will underpin the economy and support demand for stocks.

Stocks are higher for the year. The Dow is up 6.5 percent, the S&P 500 index 12 percent. The indexes are on track to end the month little changed.

Americans cut back on spending last month and saw no growth in their income, reflecting disruption from Superstorm Sandy that could hold back economic growth in the final months of the year.

The Commerce Department reported that consumer spending dropped 0.2 percent in October. That's down from an increase of 0.8 percent in September and the weakest showing since May.

The yield on the 10-year Treasury note was little changed at 1.62 percent.

Among stocks making big moves:

””Yum Brands, which owns KFC, Pizza Hut and Taco Bell, fell $7.39 to $67.08. The fast-food operator reported disappointing sales and earnings forecasts. An analyst recommended that investors sell the stock.

””Zynga, the maker of computer games including "Farmville" and "Cityville," fell 16 cents to $2.46 after the company said late Thursday that it was loosening its relationship with Facebook. While the deal frees Zynga from having to use Facebook as the exclusive social site for its games, the company relies on Facebook for most of the revenue it generates even as it works to establish its independence.

””VeriSign plunged $5.19 to $34.15 after the company announced the terms of its new contract to run the key directories that keep track of ".com" domain names. The company won't be allowed to raise prices on the registration of such names without government approval.

””Duke Energy rose $1.43 to $63.82 after the company said its CEO will step down as part of a settlement with the North Carolina utilities regulator that ends an investigation into the company's takeover of in-state rival Progress Energy.

7367

 

[bigdog]

Source: http://finance.yahoo.com

Stocks edged lower on Wall Street Monday after a surprisingly weak manufacturing report heightened concern that fiscal deadlock in Washington is already hurting the economy.

The Dow Jones industrial average fell 59.98 points to close at 12,965.60. The Standard and Poor's 500 dropped 6.72 points to 1,409.46. The Nasdaq composite was down 8.04 points to 3,002.20

U.S. manufacturing declined in November to its weakest level since July 2009, the Institute for Supply Management reported. The ISM's index fell to 49.5 from 51.7 a month earlier, below the 51.2 reading forecast by analysts. Any number below 50 on the scale means that manufacturing is contracting. Businesses expressed concerns about the "fiscal cliff," a series of sharp government spending cuts and tax increases scheduled to start Jan. 1 unless an agreement is reached to cut the budget deficit.

"The ISM numbers probably took a little air out of what was some hope for better news on where the economy is going," said Jim Dunigan, executive vice president at PNC Wealth Management in Philadelphia. "We're still in the camp that this gets resolved and we don't go over the cliff, but there's a lot of angst between now and then."

The White House and Congress are still seeking to hammer out a budget deal that will avoid the "cliff." Republicans, led by House Speaker John Boehner, have balked at President Barack Obama's opening proposal of $1.6 trillion in higher taxes over a decade, a possible extension of the temporary Social Security payroll tax cut and heightened presidential power to raise the national debt limit.

House Republicans on Monday proposed their own 10-year blueprint to President Barack Obama that calls for increasing the eligibility age for Medicare and lowering cost-of-living hikes for Social Security benefits.

"There's a sense of insecurity until the President and Boehner get their act together," said Ben Schwarz, chief market strategist at New York-based brokerage Lightspeed Financial. "If they put together a package in short order, if they do it in the next couple of weeks, you'll see a strong rally."

Stocks have fluctuated since the Nov. 6 election as investors worried that a deal may not be reached in time to avoid the tax hikes and spending cuts, which economists say could push the U.S. back into recession. The S&P 500 is still 1.3 percent below its closing level on the day that Americans went to the polls, having fallen as much as 5 percent in the weeks following the election.

Wall Street opened higher Monday following news that manufacturing in China, the world's second-largest economy, grew for the first time in 13 months and after Greece announced details of a bond buyback program. The Dow had been up as much as 62 points shortly after the opening bell.

December is historically the best month for stocks. The S&P 500 has advanced an average of 2 percent over the past 30 years during the month of December, according to research from Schaeffer's Investment Research. The next best month is April, with an average return of 1.7 percent. The worst month is September, where investors lose an average of 0.7 percent.

The NYSE DOW closed LOWER ▼ -59.98 points or ▼ -0.46% Monday, 3 December 2012
Symbol …........Last ......Change.....
Dow_Jones 12,965.60 ▼ -59.98 ▼ -0.46%
Nasdaq____ 3,002.20 ▼ -8.04 ▼ -0.27%
S&P_500____ 1,409.46 ▼ -6.72 ▼ -0.47%
30_Yr_Bond____ 2.806 ▲ 0.01 ▲ 0.43%

NYSE Volume 3,060,504,000
Nasdaq Volume 1,666,239,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,871.24 ▲ 4.42 ▲ 0.08%
DAX_____ 7,435.21 ▲ 29.71 ▲ 0.40%
CAC_40__ 3,566.59 ▲ 9.31 ▲ 0.26%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,540.00 ▲ 22.00 ▲ 0.49%
Shanghai_Comp 1,959.77 ▼ -20.35 ▼ -1.03%
Taiwan_Weight 7,599.91 ▲ 19.74 ▲ 0.26%
Nikkei_225____ 9,458.18 ▲ 12.17 ▲ 0.13%
Hang_Seng____ 21,767.85 ▲ 53.93 ▼ -1.19%
Strait_Times___ 3,062.49 ▼ -7.46 ▼ -0.24%
NZX_50_Index__ 4,049.09 ▼ -1.00 ▼ -0.02%

http://finance.yahoo.com/news/stocks-edge-lower-weak-manufacturing-162959816.html

Stocks edge lower after weak manufacturing report

Stocks edge lower report shows that "fiscal cliff" weighed on manufacturing last month

By Steve Rothwell, AP Business Writer

Stocks edged lower on Wall Street Monday after a surprisingly weak manufacturing report heightened concern that fiscal deadlock in Washington is already hurting the economy.

The Dow Jones industrial average fell 59.98 points to close at 12,965.60. The Standard and Poor's 500 dropped 6.72 points to 1,409.46. The Nasdaq composite was down 8.04 points to 3,002.20

U.S. manufacturing declined in November to its weakest level since July 2009, the Institute for Supply Management reported. The ISM's index fell to 49.5 from 51.7 a month earlier, below the 51.2 reading forecast by analysts. Any number below 50 on the scale means that manufacturing is contracting. Businesses expressed concerns about the "fiscal cliff," a series of sharp government spending cuts and tax increases scheduled to start Jan. 1 unless an agreement is reached to cut the budget deficit.

"The ISM numbers probably took a little air out of what was some hope for better news on where the economy is going," said Jim Dunigan, executive vice president at PNC Wealth Management in Philadelphia. "We're still in the camp that this gets resolved and we don't go over the cliff, but there's a lot of angst between now and then."

The White House and Congress are still seeking to hammer out a budget deal that will avoid the "cliff." Republicans, led by House Speaker John Boehner, have balked at President Barack Obama's opening proposal of $1.6 trillion in higher taxes over a decade, a possible extension of the temporary Social Security payroll tax cut and heightened presidential power to raise the national debt limit.

House Republicans on Monday proposed their own 10-year blueprint to President Barack Obama that calls for increasing the eligibility age for Medicare and lowering cost-of-living hikes for Social Security benefits.

"There's a sense of insecurity until the President and Boehner get their act together," said Ben Schwarz, chief market strategist at New York-based brokerage Lightspeed Financial. "If they put together a package in short order, if they do it in the next couple of weeks, you'll see a strong rally."

Stocks have fluctuated since the Nov. 6 election as investors worried that a deal may not be reached in time to avoid the tax hikes and spending cuts, which economists say could push the U.S. back into recession. The S&P 500 is still 1.3 percent below its closing level on the day that Americans went to the polls, having fallen as much as 5 percent in the weeks following the election.

Wall Street opened higher Monday following news that manufacturing in China, the world's second-largest economy, grew for the first time in 13 months and after Greece announced details of a bond buyback program. The Dow had been up as much as 62 points shortly after the opening bell.

December is historically the best month for stocks. The S&P 500 has advanced an average of 2 percent over the past 30 years during the month of December, according to research from Schaeffer's Investment Research. The next best month is April, with an average return of 1.7 percent. The worst month is September, where investors lose an average of 0.7 percent.

The yield on the 10-year Treasury note rose 1 basis point to 1.62 percent.

Other stocks making big moves:

””Dell rose 42 cents, or 4.4 percent, to $10.06 after Goldman Sachs raised its rating to "Buy" from "Sell." Goldman cited Dell's healthy cash balance and said a recent decline in the stock may have been overdone. Dell has slumped this year as consumers migrated away from desktop PCs and laptops to portable devices such as tablets and phones.

”” Health Management Associates fell 45 cents, or 5.7 percent, to $7.50 after the CBS news program "60 Minutes" broadcast a segment critical of the company's patient admission policies. The program included interviews with former employees who said HMA pressured its emergency room doctors to admit patients.

””Supervalu jumped 30 cents, or 12.6 percent, to $2.68 following a report that private equity firm Cerberus is considering multiple options for buying parts of the struggling grocery store chain.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks closed little changed Tuesday on Wall Street as budget talks continued in Washington.

The Dow Jones industrial average closed down 13.82 points at 12,951.78 after trading in a narrow range of just 82 points. The Standard and Poor's 500 was down 2.41 points to 1,407.05. The Nasdaq composite was down 5.51 at 2,996.69.

Investors are waiting on developments from Washington in the budget talks, which are aimed at avoiding the "fiscal cliff." That refers to a series of sharp government spending cuts and tax increases that begin to kick in Jan. 1 and could eventually cause a recession.

President Barack Obama said Tuesday that a proposal by House Speaker John Boehner on Monday was "still out of balance." Obama, in an interview with Bloomberg Television, insisted on higher taxes for wealthy Americans.

Republicans, led by Boehner, have balked at Obama's proposal of $1.6 trillion in additional taxes over a decade, and Monday called for increasing the eligibility age for Medicare and lowering cost-of-living increases for Social Security benefits.

"Politicians are doing their negotiating dance. They both start out on their extreme positions. The question is how long until they get into the middle," said Rex Macey, chief investment officer at Wilmington Trust Investment Advisors in Atlanta.

Despite the slow pace of the talks, the stock market has gained back nearly all of a post-election slide caused by concerns about the fiscal impasse. The S&P is now about 1.5 percent below where it was on Nov. 6. In mid-November it had dropped as much as 5 percent.

The NYSE DOW closed LOWER ▼ -13.82 points or ▼ -0.11% Tuesday, 4 December 2012
Symbol …........Last ......Change.....
Dow_Jones 12,951.78 ▼ -13.82 ▼ -0.11%
Nasdaq____ 2,996.69 ▼ -5.51 ▼ -0.18%
S&P_500____ 1,407.05 ▼ -2.41 ▼ -0.17%
30_Yr_Bond____ 2.780 ▼ -0.03 ▼ -0.93%

NYSE Volume 3,218,721,250
Nasdaq Volume 1,784,699,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,869.04 ▼ -2.20 ▼ -0.04%
DAX_____ 7,435.12 ▼ -0.09 ▲ 0.00%
CAC_40__ 3,580.48 ▲ 13.89 ▲ 0.39%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,511.80 ▼ -28.20 ▼ -0.62%
Shanghai_Comp 1,975.14 ▲ 15.38 ▲ 0.78%
Taiwan_Weight 7,600.98 ▲ 1.07 ▲ 0.01%
Nikkei_225____ 9,432.46 ▼ -25.72 ▼ -0.27%
Hang_Seng____ 21,799.97 ▲ 53.93 ▲ 0.15%
Strait_Times___ 3,062.12 ▼ -3.62 ▼ -0.12%
NZX_50_Index__ 4,015.69 ▼ -33.40 ▼ -0.82%

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Stocks little changed as budget talks continue

Stocks little changed on Wall Street as budget talks to avoid the fiscal "cliff" continue

By Steve Rothwell, AP Business Writer

Stocks closed little changed Tuesday on Wall Street as budget talks continued in Washington.

The Dow Jones industrial average closed down 13.82 points at 12,951.78 after trading in a narrow range of just 82 points. The Standard and Poor's 500 was down 2.41 points to 1,407.05. The Nasdaq composite was down 5.51 at 2,996.69.

Investors are waiting on developments from Washington in the budget talks, which are aimed at avoiding the "fiscal cliff." That refers to a series of sharp government spending cuts and tax increases that begin to kick in Jan. 1 and could eventually cause a recession.

President Barack Obama said Tuesday that a proposal by House Speaker John Boehner on Monday was "still out of balance." Obama, in an interview with Bloomberg Television, insisted on higher taxes for wealthy Americans.

Republicans, led by Boehner, have balked at Obama's proposal of $1.6 trillion in additional taxes over a decade, and Monday called for increasing the eligibility age for Medicare and lowering cost-of-living increases for Social Security benefits.

"Politicians are doing their negotiating dance. They both start out on their extreme positions. The question is how long until they get into the middle," said Rex Macey, chief investment officer at Wilmington Trust Investment Advisors in Atlanta.

Among stocks making big moves, Darden Restaurants, owner of the Olive Garden, Red Lobster and LongHorn Steakhouse restaurant chains, fell $5.02, or 9.6 percent, to $47.40 after cutting its profit forecast for fiscal 2013.

Separately, analysts at Credit Suisse said that restaurant-goers would "quickly lose their appetite" if the U.S. went over the "cliff" because the job cuts that would likely follow would curb discretionary spending.

Stock trading will likely become increasingly more volatile the longer talks progress without a deal, said JJ Kinahan, chief derivatives strategist at TD Ameritrade.

"If you looked back a week ago, most people were under the impression that we'd get this solved fairly quickly," Kinahan said. "There hasn't really been any positive news, or any positive movement, in the last few days, and with that it makes people more and more nervous."

Despite the slow pace of the talks, the stock market has gained back nearly all of a post-election slide caused by concerns about the fiscal impasse. The S&P is now about 1.5 percent below where it was on Nov. 6. In mid-November it had dropped as much as 5 percent.

Bill Gross, the managing director of fund manager PIMCO, told investors in his regular newsletter that they should expect annualized bond returns of 3 to 4 percent at best in the future and stock returns that are "only a few percentage points higher."

The S&P 500 has risen 12 percent this year. High debt levels and slowing global growth will weigh on the economy, Gross said.

The yield on the 10-year Treasury note fell 1 basis point to 1.61 percent.

Among other stocks making big moves:

”” Big Lots gained $3.23, or 11.5 percent, to $31.27 after the discount retailer raised its full-year earnings forecast and reported a loss that wasn't as bad as analysts had expected.

”” Pep Boys fell $1.11, or 10.4 percent, to $9.57 after posting a loss on weak sales at the company's auto stores and reporting rising costs.

”” MetroPCS fell 81 cents, or 7.5 percent, to $9.96 after Reuters reported that Sprint isn't currently considering making a counter offer for the cellphone business. MetroPCS and T-Mobile said in October that they had agreed to combine their businesses.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks closed higher Wednesday, their first gain of the week, as bank shares rose and comments by President Barack Obama made investors optimistic that a quick deal could be made to avoid the "fiscal cliff."

The Dow Jones industrial average rose 82.71 points to end at 13,034.49. It had been up as much as 137. The Standard and Poor's 500 closed up 2.23 points to 1,409.28. The Nasdaq composite was down 22.99 points to 2,973.70, held back by a slump in Apple.

Citigroup jumped $2.17, or 6.3 percent, to $36.46 after the bank said it plans to eliminate more than 11,000 jobs, or about 4 percent of its workforce, to cut expenses and improve efficiency. Travelers surged $3.47, or 4.9 percent, to $74 after it announced plans to resume stock buybacks. Travelers temporarily suspended repurchases following Superstorm Sandy while it assessed its exposure to damage claims.

"We can probably solve this in about a week, it's not that tough," Obama said in lunchtime remarks to the Business Roundtable in Washington. The comments, made just before noon, helped push the market higher, said Quincy Crosby, a market strategist at Prudential Financial.

Stocks have largely traded sideways for two weeks as investors wait for developments from Washington on crucial budget talks to avoid the "fiscal cliff," a series of sharp government spending cuts and tax increases scheduled to start Jan. 1 unless an agreement is reached to cut the budget deficit. Economists say that the measures, if implemented, could push the U.S. back into recession.

Apple was among the decliners, falling $37.05, or 6.4 percent, to $538.79. Stifel Financial analyst Aaron Rakers said the drop was in part due to comments from AT&T Mobility chief executive officer Ralph de La Vega, which suggested that smartphone activations this quarter were lagging the same period a year ago. The stock has now dropped 23 percent since closing at a record $702.10 in September.

Stocks are still up on the year, after the Federal Reserve extended its bond-buying program in September, offsetting concern that the European debt crisis was set to spread. The Dow has gained 7 percent and S&P 500 has advanced 12 percent.

The NYSE DOW closed HIGHER ▲ 82.71 points or ▲ 0.64% Wednesday, 5 December 2012
Symbol …........Last ......Change.....
Dow_Jones 13,034.49 ▲ 82.71 ▲ 0.64%
Nasdaq____ 2,973.70 ▼ -22.99 ▼ -0.77%
S&P_500____ 1,409.28 ▲ 2.23 ▲ 0.16%
30_Yr_Bond____ 2.779 ▼ 0.00 ▼ -0.04%

NYSE Volume 4,141,433,000
Nasdaq Volume 1,798,903,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,892.08 ▲ 23.04 ▲ 0.39%
DAX_____ 7,454.55 ▲ 19.43 ▲ 0.26%
CAC_40__ 3,590.50 ▲ 10.02 ▲ 0.28%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,528.00 ▲ 16.20 ▲ 0.36%
Shanghai_Comp 2,031.91 ▲ 56.76 ▲ 2.87%
Taiwan_Weight 7,649.05 ▲ 48.07 ▲ 0.63%
Nikkei_225____ 9,468.84 ▲ 36.38 ▲ 0.39%
Hang_Seng____ 22,270.91 ▲ 53.93 ▲ 2.16%
Strait_Times___ 3,073.94 ▲ 11.82 ▲ 0.39%
NZX_50_Index__ 4,007.25 ▼ -8.45 ▼ -0.21%

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Stocks gain on "cliff" hope, led by banks

Stocks close higher, led by banks and other financial companies, on "fiscal cliff" optimism

Stocks closed higher Wednesday, their first gain of the week, as bank shares rose and comments by President Barack Obama made investors optimistic that a quick deal could be made to avoid the "fiscal cliff."

The Dow Jones industrial average rose 82.71 points to end at 13,034.49. It had been up as much as 137. The Standard and Poor's 500 closed up 2.23 points to 1,409.28. The Nasdaq composite was down 22.99 points to 2,973.70, held back by a slump in Apple.

Citigroup jumped $2.17, or 6.3 percent, to $36.46 after the bank said it plans to eliminate more than 11,000 jobs, or about 4 percent of its workforce, to cut expenses and improve efficiency. Travelers surged $3.47, or 4.9 percent, to $74 after it announced plans to resume stock buybacks. Travelers temporarily suspended repurchases following Superstorm Sandy while it assessed its exposure to damage claims.

"We can probably solve this in about a week, it's not that tough," Obama said in lunchtime remarks to the Business Roundtable in Washington. The comments, made just before noon, helped push the market higher, said Quincy Crosby, a market strategist at Prudential Financial.

Stocks have largely traded sideways for two weeks as investors wait for developments from Washington on crucial budget talks to avoid the "fiscal cliff," a series of sharp government spending cuts and tax increases scheduled to start Jan. 1 unless an agreement is reached to cut the budget deficit. Economists say that the measures, if implemented, could push the U.S. back into recession.

Apple was among the decliners, falling $37.05, or 6.4 percent, to $538.79. Stifel Financial analyst Aaron Rakers said the drop was in part due to comments from AT&T Mobility chief executive officer Ralph de La Vega, which suggested that smartphone activations this quarter were lagging the same period a year ago. The stock has now dropped 23 percent since closing at a record $702.10 in September.

Stocks are still up on the year, after the Federal Reserve extended its bond-buying program in September, offsetting concern that the European debt crisis was set to spread. The Dow has gained 7 percent and S&P 500 has advanced 12 percent.

"The market will hold on to its gains for the year. Given the uncertainty I don't see any compelling reasons for an increase," said Brian Gendreau, a market strategist with Cetera Financial Group, a Los Angeles-based broker. "But that could change in a blink. If there's better-than-expected news from these negotiations, the market could pop."

A Chinese government pledge to maintain policies intended to strengthen the world's second-largest economy helped raise optimism about global growth. China's Shanghai Composite Index jumped 2.9 percent to 2,031.91. Hong Kong's Hang Seng ended 2.2 percent higher at 22,270.91.

A private survey showed Wednesday that U.S. businesses added fewer workers in November, in part because Superstorm Sandy shut down factories, retail stores, and other companies. Payroll processor ADP said employers added 118,000 jobs last month. That's below October's total of 157,000, which was revised lower. Investors will also look to the monthly jobs report from the Labor Department Friday for more information about how the economy is doing.

Orders to U.S. factories rose modestly in October, helped by a big gain in demand for equipment that reflects business investment plans. Factory orders edged up 0.8 percent in October, the Commerce Department said Wednesday. That followed a 4.5 percent jump in September.

The yield on the 10-year Treasury note fell 1 basis points to 1.59 percent.

Among other stocks making big moves:

””Freeport-McMoRan Copper & Gold plunged $6.12, or 16 percent, to $32.16 after the mining company said it is buying oil companies Plains Exploration & Production and McMoRan Exploration for about $9 billion.

””Mattress Firm Holding Corp. fell $6.65, or 22 percent, to $23.67 after the mattress retailer said late Tuesday that sales trends were softening.

””Pandora Media, an internet radio company, fell $1.65, or 17.5 percent, to $7.80 after saying it would make a much larger loss in the fourth quarter than analysts had been forecasting.

 

[bigdog]

Source: http://finance.yahoo.com

Apple and other technology companies led the stock market up for the second day in a row Thursday.

The gains came a day after Apple took its worst fall in four years. In separate interviews, CEO Tim Cook said Apple will produce one of its Mac computers in the United States next year and will spend $100 million in 2013 to shift production of the line from China.

The tech giant's stock gained $8.45 to $547.24

The Dow Jones industrial average rose 39.55 points to close at 13,074.04. Intel led the Dow, rising 31 cents to $20.16.

Investors' biggest concern remains the automatic tax increases and federal spending cuts scheduled to start Jan. 1. "Everybody is paying close attention to the soap opera in Washington," said John Canally, investment strategist and economist at LPL Financial.

President Barack Obama said Wednesday that the White House and Republicans could reach an agreement "in about a week" if the Republicans drop their opposition to raising taxes on making more than $250,000 a year.

Most investors believe President Obama and Congressional Republicans will strike a budget deal to avoid this "fiscal cliff" before the year is out. Until they reach an agreement, however, the stock market will likely be hostage to news out of Washington.

In other trading, the Standard & Poor's 500 index rose 4.66 points to 1,413.94, while the Nasdaq composite climbed 15.57 points to 2,989.27. In the market for U.S. government bonds, the yield on the 10-year Treasury note ended the day at 1.59 percent, the same as late Wednesday.

The U.S. Labor Department said unemployment benefits applications dropped 25,000 last week to 370,000, a level consistent with modest hiring. The decline was also a sign that the spike in applications caused by Superstorm Sandy has faded.

The NYSE DOW closed HIGHER ▲ 39.55 points or ▲ 0.30% Thursday, 6 December 2012
Symbol …........Last ......Change.....
Dow_Jones 13,074.04 ▲ 39.55 ▲ 0.30%
Nasdaq____ 2,989.27 ▲ 15.57 ▲ 0.52%
S&P_500____ 1,413.94 ▲ 4.66 ▲ 0.33%
30_Yr_Bond____ 2.765 ▼ -0.01 ▼ -0.50%

NYSE Volume 3,176,896,250
Nasdaq Volume 1,692,908,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,901.42 ▲ 9.34 ▲ 0.16%
DAX_____ 7,534.54 ▲ 79.99 ▲ 1.07%
CAC_40__ 3,601.65 ▲ 11.15 ▲ 0.31%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,515.70 ▼ -12.30 ▼ -0.27%
Shanghai_Comp 2,029.24 ▼ -2.67 ▼ -0.13%
Taiwan_Weight 7,623.26 ▼ -25.79 ▼ -0.34%
Nikkei_225____ 9,545.16 ▲ 76.32 ▲ 0.81%
Hang_Seng____ 22,249.81 ▲ 53.93 ▼ -0.09%
Strait_Times___ 3,078.23 ▲ 2.31 ▲ 0.08%
NZX_50_Index__ 4,023.36 ▲ 16.11 ▲ 0.40%

http://finance.yahoo.com/news/stock...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Stocks edge up as investors keep eye on Washington

Market indexes eke out gains with no developments in Washington; Apple climbs after big fall

By Matthew Craft, AP Business Writer

Apple and other technology companies led the stock market up for the second day in a row Thursday.

The gains came a day after Apple took its worst fall in four years. In separate interviews, CEO Tim Cook said Apple will produce one of its Mac computers in the United States next year and will spend $100 million in 2013 to shift production of the line from China.

The tech giant's stock gained $8.45 to $547.24

The Dow Jones industrial average rose 39.55 points to close at 13,074.04. Intel led the Dow, rising 31 cents to $20.16.

Investors' biggest concern remains the automatic tax increases and federal spending cuts scheduled to start Jan. 1. "Everybody is paying close attention to the soap opera in Washington," said John Canally, investment strategist and economist at LPL Financial.

President Barack Obama said Wednesday that the White House and Republicans could reach an agreement "in about a week" if the Republicans drop their opposition to raising taxes on making more than $250,000 a year.

Most investors believe President Obama and Congressional Republicans will strike a budget deal to avoid this "fiscal cliff" before the year is out. Until they reach an agreement, however, the stock market will likely be hostage to news out of Washington.

In other trading, the Standard & Poor's 500 index rose 4.66 points to 1,413.94, while the Nasdaq composite climbed 15.57 points to 2,989.27. In the market for U.S. government bonds, the yield on the 10-year Treasury note ended the day at 1.59 percent, the same as late Wednesday.

The U.S. Labor Department said unemployment benefits applications dropped 25,000 last week to 370,000, a level consistent with modest hiring. The decline was also a sign that the spike in applications caused by Superstorm Sandy has faded.

The government will release its closely watched monthly jobs report Friday. Private economists forecast that hiring in November sank from the previous month. They expect the unemployment rate to remain unchanged at 7.9 percent.

More companies announced plans to reward investors with dividends this month in case taxes rise next year.

Sirius XM Radio said it will issue a one-time dividend of 5 cents per share at the end of the month and spend up to $2 billion buying back its stock. Safeway shifted a payment scheduled for January to Dec. 31. And Landstar Systems, a transportation company, will pay shareholders 50 cents a share this month instead of paying dividends for the next two years.

Dividends, now taxed at 15 percent, will be treated like ordinary income next year unless Congress and the White House extend current tax breaks as part of a budget deal.

Among other stocks making moves:

”” Akamai Technologies jumped 10 percent, the best gain in the S&P 500 index. Akamai, which helps websites work faster, forged a partnership with AT&T to deliver online content. Its stock gained $3.56 to $39.06.

”” H&R Block surged 5 percent after posting revenue and earnings that beat analysts' estimates. The country's largest tax preparation company reported a smaller loss, helped by cost-cutting efforts. It typically turns in a loss in the August-to-October period because it takes in most of its revenue during the U.S. tax season. H&R Block gained 89 cents to $18.26.

”” The Men's Wearhouse dropped 84 cents to $30.51. The clothing company posted third-quarter results missed Wall Street's estimates and cut its profit estimates for the fourth quarter and full year.

 

[bigdog]

Source: http://finance.yahoo.com

Apple spoiled the stock market's party on Friday.

Stocks shot higher in the early morning, after the government reported that the U.S. added jobs in November. But Apple, which has been flailing in recent weeks as investors wonder how long its momentum can continue, dragged down the indexes that it's part of.

The Dow Jones industrial average, which doesn't include Apple, rose. The Standard & Poor's 500 and Nasdaq, which do, were less impressive. The S&P rose by a smaller amount, and the Nasdaq fell.

The headline numbers from the jobs report sent the market higher in early trading. The Labor Department said the U.S. added 146,000 jobs last month, more than economists had expected. The unemployment rate fell to 7.7 percent from 7.9 percent, the lowest in nearly four years.

The overall report, however, painted a more restrained view of the economy.

"If you delve into that report a little more, there are some disturbing issues," said Brian Lund, who is based in Los Angeles as executive vice president and co-founder of the online brokerage Ditto Trade.

Among them: The unemployment rate fell largely because discouraged unemployed workers stopped looking for work, which meant they were no longer counted among the unemployed. Also, the Labor Department revised previously released jobs numbers downward, saying that employers added 49,000 fewer jobs in October and September than initially estimated.

Lund also wasn't so sure about the government's statement that Hurricane Sandy "did not substantively impact" the unemployment numbers. He expected Sandy's detrimental effects to show up in jobs reports over the next couple of months, as businesses figure out their post-storm plans.

"If you have Sandy, you don't automatically lose your job," Lund said. "Businesses take time to say, 'Oh, what's going on, can we go forward, do we need to cut people to survive? It's not until later that they start laying off."

Nicholas Colas, chief market strategist for ConvergEx in New York, was similarly unimpressed by the jobs numbers. In a note to clients, he said U.S. unemployment seems to be more consistent with "an ongoing recession than expansion."

In the recession of the early 1990s and its aftermath, the highest rate of unemployment was 7.8 percent. In the recession of the early 2000s and its aftermath, the unemployment rate never got above 6.3 percent.

This time has been harsher. In late 2009, shortly after the recession officially ended, the unemployment rate peaked at 10 percent. For two years after that, it stayed above 9 percent.

At the end of the day, the Dow was up 81.09 points to 13,155.13. The S&P 500, where Apple's weight is 4 percent, was up but by a smaller proportion, rising 4.13 to 1,418.07. The Nasdaq composite index, where Apple accounts for a hefty 12 percent, fell 11.23 to 2,978.04.

Apple fell $13.99 to $533.25, or 2.6 percent. That's part of a longer trend: Apple's stock has plunged nearly 24 percent since the iPhone 5 went on sale Sept. 21. Investors are wondering how long the company can keep the momentum going with its popular iPhone and iPad devices.

The NYSE DOW closed HIGHER ▲ 81.09 points or ▲ 0.62% Friday, 7 December 2012
Symbol …........Last ......Change.....
Dow_Jones 13,155.13 ▲ 81.09 ▲ 0.62%
Nasdaq____ 2,978.04 ▼ -11.23 ▼ -0.38%
S&P_500____ 1,418.07 ▲ 4.13 ▲ 0.29%
30_Yr_Bond____ 2.814 ▲ 0.05 ▲ 1.77%

NYSE Volume 3,086,904,250
Nasdaq Volume 1,588,778,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,914.40 ▲ 12.98 ▲ 0.22%
DAX_____ 7,517.80 ▼ -16.74 ▼ -0.22%
CAC_40__ 3,605.61 ▲ 3.96 ▲ 0.11%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,555.90 ▲ 40.20 ▲ 0.89%
Shanghai_Comp 2,061.79 ▲ 32.55 ▲ 1.60%
Taiwan_Weight 7,642.26 ▲ 19.00 ▲ 0.25%
Nikkei_225____ 9,527.39 ▼ -17.77 ▼ -0.19%
Hang_Seng____ 22,191.17 ▲ 53.93 ▼ -0.26%
Strait_Times___ 3,107.11 ▲ 28.91 ▲ 0.94%
NZX_50_Index__ 4,041.53 ▲ 18.16 ▲ 0.45%

http://finance.yahoo.com/news/apple...Rwc3RhaWQDBHBzdGNhdAMEcHQDc2VjdGlvbnM-;_ylv=3

Apple holds back S&P, Nasdaq; Dow ends higher

Stocks mostly rise as investors work through inconclusive jobs report; Apple spoils the party

By Christina Rexrode, AP Business Writer

Apple spoiled the stock market's party on Friday.

Stocks shot higher in the early morning, after the government reported that the U.S. added jobs in November. But Apple, which has been flailing in recent weeks as investors wonder how long its momentum can continue, dragged down the indexes that it's part of.

The Dow Jones industrial average, which doesn't include Apple, rose. The Standard & Poor's 500 and Nasdaq, which do, were less impressive. The S&P rose by a smaller amount, and the Nasdaq fell.

The headline numbers from the jobs report sent the market higher in early trading. The Labor Department said the U.S. added 146,000 jobs last month, more than economists had expected. The unemployment rate fell to 7.7 percent from 7.9 percent, the lowest in nearly four years.

The overall report, however, painted a more restrained view of the economy.

"If you delve into that report a little more, there are some disturbing issues," said Brian Lund, who is based in Los Angeles as executive vice president and co-founder of the online brokerage Ditto Trade.

Among them: The unemployment rate fell largely because discouraged unemployed workers stopped looking for work, which meant they were no longer counted among the unemployed. Also, the Labor Department revised previously released jobs numbers downward, saying that employers added 49,000 fewer jobs in October and September than initially estimated.

Lund also wasn't so sure about the government's statement that Hurricane Sandy "did not substantively impact" the unemployment numbers. He expected Sandy's detrimental effects to show up in jobs reports over the next couple of months, as businesses figure out their post-storm plans.

"If you have Sandy, you don't automatically lose your job," Lund said. "Businesses take time to say, 'Oh, what's going on, can we go forward, do we need to cut people to survive? It's not until later that they start laying off."

Nicholas Colas, chief market strategist for ConvergEx in New York, was similarly unimpressed by the jobs numbers. In a note to clients, he said U.S. unemployment seems to be more consistent with "an ongoing recession than expansion."

In the recession of the early 1990s and its aftermath, the highest rate of unemployment was 7.8 percent. In the recession of the early 2000s and its aftermath, the unemployment rate never got above 6.3 percent.

This time has been harsher. In late 2009, shortly after the recession officially ended, the unemployment rate peaked at 10 percent. For two years after that, it stayed above 9 percent.

At the end of the day, the Dow was up 81.09 points to 13,155.13. The S&P 500, where Apple's weight is 4 percent, was up but by a smaller proportion, rising 4.13 to 1,418.07. The Nasdaq composite index, where Apple accounts for a hefty 12 percent, fell 11.23 to 2,978.04.

Apple fell $13.99 to $533.25, or 2.6 percent. That's part of a longer trend: Apple's stock has plunged nearly 24 percent since the iPhone 5 went on sale Sept. 21. Investors are wondering how long the company can keep the momentum going with its popular iPhone and iPad devices.

Outside of Apple, there's another significant cloud hanging over the market. Congress and the White House are trying to hammer out an agreement on government spending and tax rates before Jan. 1. If they don't, lower government spending and higher taxes will kick in, a situation that's been nicknamed the "fiscal cliff."

The fiscal cliff is already taking a toll on people's confidence and making them nervous about spending, said Bernie Williams, vice president of discretionary money management at USAA Investments in San Antonio, Texas. He pointed to recent announcements from retailers like Target and Kohl's, both of which reported lower November sales, even though analysts had expected increases.

"There are more things on the plate to worry about than normal," Williams said. "The consumer is weak, their confidence is being hit by the fiscal cliff, and then more importantly, you look ahead to next year and all the taxes are (likely) rising. ... If you're a paycheck-to-paycheck person, that's going to hurt."

Traders have been indecisive as well. In the 22 trading days since the presidential election, the Dow has been up 11 and down 11.

AIG, the bailed-out insurance company, rose more than 2 percent, up 87 cents to $34.13. A group of Chinese companies is in talks to buy AIG's aircraft leasing unit, which could help AIG raise cash to pay off more of its government loans.

The yield on the benchmark 10-year Treasury note rose to 1.63 percent from 1.59 percent late Thursday, a sign that investors were putting more money in stocks.

7900

 

[bigdog]

Source: http://finance.yahoo.com

Stocks edged higher Monday on Wall Street after a strong sales report from McDonald's offset concerns about the surprise resignation of Italy's prime minister. Investors also waited for developments in crucial U.S. budget talks.

The Dow Jones industrial average rose 14.75 points to 13,169.88. The index traded within a narrow range of just 56 points throughout the day. The Standard and Poor's 500 finished 0.48 point higher at 1,418.55. The Nasdaq composite ended up 8.92 points at 2,986.96.

McDonald's rose 93 cents to $89.41. A key sales figure rose in November as U.S. customers bought more breakfast offerings and limited-time Cheddar Bacon Onion sandwiches.

Robert Pavlik, chief market strategist at Palm Beach, Fla.-based Banyan Partners, said the company's strength was encouraging. McDonald's, one of the 30 stocks in the Dow, was trading as high as $100 at the beginning of 2012.

The pickup in McDonald's sales, he said, gave investors something positive to focus on as Italy's sudden political turmoil sent a jolt through European markets.

Hewlett-Packard rose 36 cents to $14.16 and also helped push the Dow higher. The company's stock has been battered the past two months following a weak earnings forecast and a public spat with the founder of Autonomy, a company it acquired for $10 billion last year.

Italian Prime Minister Mario Monti, who has been credited with restoring confidence in the nation's economy, announced that he would step down after former Prime Minister Silvio Berlusconi's party dropped its support for his government.

Italian government bond yields, a critical measure of how much the country has to pay to borrow, jumped. Concern that the European debt crisis was enveloping Italy, one of the euro region's largest economies, helped stymie markets around the world earlier in the year.

Investors were also following developments in budget talks in Washington. Tax increases and federal spending cuts start Jan. 1 unless a deal is reached to reduce the U.S. budget deficit. Economists say the measures, if implemented, could eventually push the economy back into recession.

The yield on the 10-year Treasury note fell 1 basis point to 1.62 percent.

President Barack Obama and House Speaker John Boehner met at the White House on Sunday while rank-and-file Republicans stepped forward with what they called pragmatic ideas to break the stalemate. The Obama-Boehner meeting was the first between just the two leaders since Election Day.

The NYSE DOW closed HIGHER ▲ 14.75 points or ▲ 0.11% Monday, 10 December 2012
Symbol …........Last ......Change.....
Dow_Jones 13,169.88 ▲ 14.75 ▲ 0.11%
Nasdaq____ 2,986.96 ▲ 8.92 ▲ 0.30%
S&P_500____ 1,418.55 ▲ 0.48 ▲ 0.03%
30_Yr_Bond____ 2.803 ▼ -0.01 ▼ -0.39%

NYSE Volume 3,001,334,500
Nasdaq Volume 1,537,692,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,921.63 ▲ 7.23 ▲ 0.12%
DAX_____ 7,530.92 ▲ 13.12 ▲ 0.17%
CAC_40__ 3,612.10 ▲ 6.49 ▲ 0.18%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,562.40 ▲ 6.50 ▲ 0.14%
Shanghai_Comp 2,083.77 ▲ 21.98 ▲ 1.07%
Taiwan_Weight 7,609.50 ▼ -32.76 ▼ -0.43%
Nikkei_225____ 9,533.75 ▲ 6.36 ▲ 0.07%
Hang_Seng____ 22,276.72 ▲ 53.93 ▲ 0.39%
Strait_Times___ 3,114.34 ▲ 7.23 ▲ 0.23%
NZX_50_Index__ 4,030.77 ▼ -10.75 ▼ -0.27%

http://news.yahoo.com/stocks-edge-higher-dow-boosted-mcdonalds-200635123--finance.html

Stocks edge higher; Dow boosted by McDonald's

By By STEVE ROTHWELL

Stocks edged higher Monday on Wall Street after a strong sales report from McDonald's offset concerns about the surprise resignation of Italy's prime minister. Investors also waited for developments in crucial U.S. budget talks.

The Dow Jones industrial average rose 14.75 points to 13,169.88. The index traded within a narrow range of just 56 points throughout the day. The Standard and Poor's 500 finished 0.48 point higher at 1,418.55. The Nasdaq composite ended up 8.92 points at 2,986.96.

McDonald's rose 93 cents to $89.41. A key sales figure rose in November as U.S. customers bought more breakfast offerings and limited-time Cheddar Bacon Onion sandwiches.

Robert Pavlik, chief market strategist at Palm Beach, Fla.-based Banyan Partners, said the company's strength was encouraging. McDonald's, one of the 30 stocks in the Dow, was trading as high as $100 at the beginning of 2012.

The pickup in McDonald's sales, he said, gave investors something positive to focus on as Italy's sudden political turmoil sent a jolt through European markets.

Hewlett-Packard rose 36 cents to $14.16 and also helped push the Dow higher. The company's stock has been battered the past two months following a weak earnings forecast and a public spat with the founder of Autonomy, a company it acquired for $10 billion last year.

Italian Prime Minister Mario Monti, who has been credited with restoring confidence in the nation's economy, announced that he would step down after former Prime Minister Silvio Berlusconi's party dropped its support for his government.

Italian government bond yields, a critical measure of how much the country has to pay to borrow, jumped. Concern that the European debt crisis was enveloping Italy, one of the euro region's largest economies, helped stymie markets around the world earlier in the year.

Investors were also following developments in budget talks in Washington. Tax increases and federal spending cuts start Jan. 1 unless a deal is reached to reduce the U.S. budget deficit. Economists say the measures, if implemented, could eventually push the economy back into recession.

The yield on the 10-year Treasury note fell 1 basis point to 1.62 percent.

President Barack Obama and House Speaker John Boehner met at the White House on Sunday while rank-and-file Republicans stepped forward with what they called pragmatic ideas to break the stalemate. The Obama-Boehner meeting was the first between just the two leaders since Election Day.

"There's a pretty good belief that the 'fiscal cliff' can be avoided," said Craig Johnson, a technical market strategist at Piper Jaffray. "Anytime somebody is talking, it's a good thing."

Other stocks making big moves:

”” Priceline.com fell $33.14, or 5 percent, to $625.96 after Deutsche Bank cut its recommendation on the stock to "hold" from "buy" and lowered its price target to $710 from $800.

”” Phillips 66, the refining and pipeline company, gained $1.24, or 2.4 percent, to $53.58 after saying late Friday that it was raising its quarterly dividend to 31.25 cents per share from 25 cents. The company also said it had approved the repurchase of another $1 billion in company stock, after approving the repurchase of $1 billion during the first quarter.

”” Intermec, a maker of barcode printers and radio frequency identification products, jumped $1.85, or 23.2 percent, to $9.83 after it agreed to be acquired by Honeywell for about $603.4 million in cash.

”” AIG fell 74 cents, or 2.3 percent, to $33.36 after the insurer said late Friday that it will take $1.3 billion in losses related to Superstorm Sandy, more than other major insurance companies have reported so far. UBS said in a client note that AIG's Sandy-related losses were above his estimate and cut his price target to $35 from $36.