NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

The Standard and Poor's 500 closed at another five-year high Thursday after the stock market got a boost from reports suggesting the outlook for economic growth may be improving.

The S&P 500 rose 11.10 points to 1,472.12, its highest close since December 2007, when the U.S. economy was entering the Great Recession. It also closed at a five-year high on Friday and is now 93 points off its record close of 1,565.15, logged in October 2007.

The Dow Jones industrial average closed up 80.71 points at 13,471.22. The Nasdaq composite rose 15.95 points to 3,121.76.

European Central Bank President Mario Draghi said the struggling euro zone should start growing again later this year, but he warned that the region has yet to reach a turning point in its struggle with recession and handling its government debt load. The comments bolstered expectations that the worst of the region's crisis may be behind it.

Investors were also cheered by a report that showed China may gradually be emerging from its worst economic downturn since the 2008 global crisis. Export growth for the world's second-largest economy rebounded strongly in December.

Stocks finished the day higher despite a U.S. government report that weekly applications for unemployment benefits ticked up last week. The Labor Department said applications rose 4,000 to 371,000, the most in five weeks. The previous week's total was revised lower.

Ford was among the gainers, rising 36 cents, or 2.7 percent, to $13.83 after the company doubled its quarterly dividend to 10 cents, just nine months after paying its first dividend in more than five years.

U.S. companies are sitting on record cash piles, having rebuilt their balance sheets following the financial crisis that started five years ago. Analysts at Deutsche Bank predict that corporations will stop adding to those cash piles this year and instead start returning more cash to shareholders, helping push the S&P 500 up to 1,575 by the end of the year. That would be a 10 percent increase from where it ended 2012.

Traders are also waiting for more indications on the health of U.S. companies from earnings reports.

A good start this week to the earning reports for the fourth quarter of last year helped the market Wednesday after aluminum company Alcoa predicted rising demand for aluminum this year.

The NYSE DOW closed HIGHER ▲ 80.71 points or ▲ 0.60% Thursday, 10 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,471.22 ▲ 80.71 ▲ 0.60%
Nasdaq____ 3,121.76 ▲ 15.95 ▲ 0.51%
S&P_500____ 1,472.12 ▲ 11.10 ▲ 0.76%
30_Yr_Bond____ 3.079 ▲ 0.03 ▲ 0.85%

NYSE Volume 4,351,679,000
Nasdaq Volume 1,760,610,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,101.51 ▲ 2.86 ▲ 0.05%
DAX_____ 7,708.47 ▼ -12.00 ▼ -0.16%
CAC_40__ 3,703.12 ▼ -14.33 ▼ -0.39%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,745.20 ▲ 15.10 ▲ 0.32%
Shanghai_Comp 2,283.66 ▲ 8.32 ▲ 0.37%
Taiwan_Weight 7,811.64 ▲ 73.00 ▲ 0.94%
Nikkei_225____ 10,652.64 ▲ 74.07 ▲ 0.70%
Hang_Seng____ 23,354.31 ▲ 53.93 ▲ 0.59%
Strait_Times___ 3,226.25 ▲ 5.84 ▲ 0.18%
NZX_50_Index__ 4,119.08 ▲ 15.54 ▲ 0.38%

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

Stocks gain, pushing S&P 500 to five-year high

Stocks advance with improving growth picture in Europe and China; S&P 500 at five-year high

By Steve Rothwell, AP Business Writer

The Standard and Poor's 500 closed at another five-year high Thursday after the stock market got a boost from reports suggesting the outlook for economic growth may be improving.

The S&P 500 rose 11.10 points to 1,472.12, its highest close since December 2007, when the U.S. economy was entering the Great Recession. It also closed at a five-year high on Friday and is now 93 points off its record close of 1,565.15, logged in October 2007.

The Dow Jones industrial average closed up 80.71 points at 13,471.22. The Nasdaq composite rose 15.95 points to 3,121.76.

European Central Bank President Mario Draghi said the struggling euro zone should start growing again later this year, but he warned that the region has yet to reach a turning point in its struggle with recession and handling its government debt load. The comments bolstered expectations that the worst of the region's crisis may be behind it.

Investors were also cheered by a report that showed China may gradually be emerging from its worst economic downturn since the 2008 global crisis. Export growth for the world's second-largest economy rebounded strongly in December.

Stocks finished the day higher despite a U.S. government report that weekly applications for unemployment benefits ticked up last week. The Labor Department said applications rose 4,000 to 371,000, the most in five weeks. The previous week's total was revised lower.

Ford was among the gainers, rising 36 cents, or 2.7 percent, to $13.83 after the company doubled its quarterly dividend to 10 cents, just nine months after paying its first dividend in more than five years.

U.S. companies are sitting on record cash piles, having rebuilt their balance sheets following the financial crisis that started five years ago. Analysts at Deutsche Bank predict that corporations will stop adding to those cash piles this year and instead start returning more cash to shareholders, helping push the S&P 500 up to 1,575 by the end of the year. That would be a 10 percent increase from where it ended 2012.

Traders are also waiting for more indications on the health of U.S. companies from earnings reports.

A good start this week to the earning reports for the fourth quarter of last year helped the market Wednesday after aluminum company Alcoa predicted rising demand for aluminum this year.

Investors will be paying particular attention to the outlook for company sales during this reporting period, said Quincy Krosby, a market strategist at Prudential Financial. Revenue growth slowed to 0.4 percent in the third quarter of 2012, compared to growth of 11.4 percent in the same period in 2011, according to S&P Capital IQ data.

"The third-quarter earnings season top-line revenue growth pulled back," said Krosby. "That's of concern because, when all is said and done, markets are supposed to be a reflection of company earnings."

Supervalu Inc. rose 43 cents, or 14.1 percent, to $3.47 after announcing that it had reached a $3.3 billion deal to sell five of its biggest grocery chains ”” Albertsons, Acme, Jewel-Osco, Shaw's and Star Market ”” to an investor group led by the private equity firm Cerberus Capital Management.

The S&P 500 is already up 3.2 percent so far this year after lawmakers reached a last-minute compromise to stop the U.S. from going over the "fiscal cliff," a reference to sharp tax increases and across-the-board government spending cuts that could have pushed the economy back into recession.

Yet while the budget deal avoided many of the tax increases, it only put off the so-called sequestration, or spending cuts, that were part of the fiscal cliff threat.

Ben Schwarz, chief market strategist at Light Speed Financial, said stocks are unlikely to make substantial gains until lawmakers deal comprehensively with the government spending issue.

"Everybody gave each other high fives, running up and down in Washington because they did the fiscal cliff, but the big deal is about to come and smack them upside their head, all the real issues that they didn't want to deal with," Schwarz said. "Most people are now thinking, better to be safe than sorry."

The yield on the 10-year Treasury note rose 4 basis points to 1.90 percent. The yield on the note, which rises as bonds fall, has jumped 30 basis points in the past month.

Other stocks making big moves:

”” Urban Outfitters rose $1.89, or 4.6 percent, to $42.64 after the company said that it had record sales for the two months ending in December.

”” Jewelry retailer Tiffany & Co. sank $2.86, or 4.5 percent, to $60.40 after reporting that its sales increased at a slower pace than previously expected during the critical holiday shopping season. The company said its full-year earnings would come in at the low end of its prior forecast.

”” Herbalife, a nutritional supplements maker, fell 71 cents, or 1.8 percent, to $39.24 after the company made a presentation to investors to counter claims made by hedge fund manager William Ackman that the business is a pyramid scheme.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks gained for a second straight week as company earnings reports started to come in, keeping the Standard and Poor's 500 index within a fraction of its highest level in five years.

The S&P 500 was little changed Friday, and gained 5 points in the week to close at 1,472.05. The index is a fraction below its close of 1,472.12 Thursday, its highest level since December 2007.

The Dow Jones industrial average rose 17.21 points to 13,488.43. The Nasdaq composite index rose 3.88 to 3,125.63. For the week, the Dow rose 53 and the Nasdaq rose 24.

Companies have started to report earnings for the fourth quarter of 2012, but no clear pattern has emerged as yet.

Aluminum company Alcoa gave stocks a lift after it reported earnings late Tuesday that matched analysts' expectations and said that demand was increasing. Investors were unimpressed by Wells Fargo's record profits Friday, choosing instead to focus on the sustainability of those earnings.

"You've been hearing comments that earnings season is going to show a continued contraction in the rate of growth," said Robert Pavlik of Banyan Partners. "People are conflicted, they are worried, but at the same time they don't want to be missing out on the action in the overall market."

Currently, analysts expect fourth quarter earnings for S&P 500 companies to grow at a rate of 3.3 percent, according to the latest data from S&P Capital IQ. That's a better growth rate than the previous quarter, but it's considerably weaker that the 8.4 percent growth rate recorded in the same period last year.

Wells Fargo, the first major bank to report earnings, dropped even after the bank reported a 25 percent increase in fourth-quarter earnings. The bank's stock fell 30 cents, or 0.8 percent, to $35.10.

The NYSE DOW closed HIGHER ▲ 17.21 points or ▲ 0.13% Friday, 11 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,488.43 ▲ 17.21 ▲ 0.13%
Nasdaq____ 3,125.63 ▲ 3.87 ▲ 0.12%
S&P_500____ 1,472.05 ▼ -0.07 ▲ 0.00%
30_Yr_Bond____ 3.054 ▼ -0.03 ▼ -0.81%

NYSE Volume 3,550,251,000
Nasdaq Volume 1,772,860,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,121.58 ▲ 20.07 ▲ 0.33%
DAX_____ 7,715.53 ▲ 7.06 ▲ 0.09%
CAC_40__ 3,706.02 ▲ 2.90 ▲ 0.08%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,733.80 ▼ -11.40 ▼ -0.24%
Shanghai_Comp 2,243.00 ▼ -40.66 ▼ -1.78%
Taiwan_Weight 7,819.15 ▲ 7.51 ▲ 0.10%
Nikkei_225____ 10,801.57 ▲ 148.93 ▲ 1.40%
Hang_Seng____ 23,264.07 ▲ 53.93 ▼ -0.39%
Strait_Times___ 3,216.50 ▼ -9.75 ▼ -0.30%
NZX_50_Index__ 4,131.75 ▲ 12.67 ▲ 0.31%

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

Stocks gain for second week, keeping S&P near high

Stocks gain for a second straight week, keeping the Standard and Poor's 500 near a 5-year high

By Steve Rothwell, AP Business Writer

Stocks gained for a second straight week as company earnings reports started to come in, keeping the Standard and Poor's 500 index within a fraction of its highest level in five years.

The S&P 500 was little changed Friday, and gained 5 points in the week to close at 1,472.05. The index is a fraction below its close of 1,472.12 Thursday, its highest level since December 2007.

The Dow Jones industrial average rose 17.21 points to 13,488.43. The Nasdaq composite index rose 3.88 to 3,125.63. For the week, the Dow rose 53 and the Nasdaq rose 24.

Companies have started to report earnings for the fourth quarter of 2012, but no clear pattern has emerged as yet.

Aluminum company Alcoa gave stocks a lift after it reported earnings late Tuesday that matched analysts' expectations and said that demand was increasing. Investors were unimpressed by Wells Fargo's record profits Friday, choosing instead to focus on the sustainability of those earnings.

"You've been hearing comments that earnings season is going to show a continued contraction in the rate of growth," said Robert Pavlik of Banyan Partners. "People are conflicted, they are worried, but at the same time they don't want to be missing out on the action in the overall market."

Currently, analysts expect fourth quarter earnings for S&P 500 companies to grow at a rate of 3.3 percent, according to the latest data from S&P Capital IQ. That's a better growth rate than the previous quarter, but it's considerably weaker that the 8.4 percent growth rate recorded in the same period last year.

Wells Fargo, the first major bank to report earnings, dropped even after the bank reported a 25 percent increase in fourth-quarter earnings. The bank's stock fell 30 cents, or 0.8 percent, to $35.10.

JPMorgan Chase, Goldman Sachs, U.S. Bancorp, Citigroup and Bank of America are among banks and financial companies reporting earnings next week. Financial stocks were the best performing industry group in the S&P 500 last year, gaining 26 percent. Other companies reporting earnings next week include eBay and Intel.

Boeing fell $1.93, or 2.5 percent, to $75.16 after the U.S. Federal Aviation Administration said it is launching a comprehensive review of the critical systems of Boeing's 787, the aircraft maker's newest and most technologically advanced plane, after a fire and a fuel leak earlier this week.

The stock market got a boost Thursday from reports suggesting the outlook for economic growth may be improving both in Europe and China.

Stocks are up on the year after lawmakers came up with a last-minute deal to prevent the U.S. from going over the "fiscal cliff." That averted the threat of a series of tax hikes and spending cuts Jan. 1 that economists say would almost certainly have pushed the U.S. economy into recession.

Avoiding the "cliff" will likely have boosted consumer confidence, said Chris Kichurchak, vice president at Strategic Wealth Partners. That improving sentiment, combined with a strengthening housing market, should prove favorable to so-called cyclical companies that move in line with the economy.

"There are a lot of people who were holding out on spending," before a budget deal was struck, said Kichurchak.

Investors started the year by jumping into stocks, according to Bank of America Merrill Lynch research. Just over $22 billion was invested in equities in the first full week of this year, the second-highest weekly in-flow on record after the $22.8 billion that was invested in September 2007.

The yield on the 10-year Treasury note, which moves opposite to the security's price, fell 4 basis points to 1.86 percent.

Other stocks making big moves;

”” American Express rose 45 cents, or 0.7 percent, to $61.24 after the company said that spending by cardholders jumped 8 percent in the fourth quarter, even after Superstorm Sandy crimped some buying.

”” Best Buy jumped $2, or 16.4 percent, to $14.21 after the struggling consumer electronics chain reported holiday sales. The company's U.S. performance was flat and, while this was a hair below the 0.3 percent increase that Best Buy reported in the prior-year period, it was an improvement over the past several quarters.

”” Ford rose 17 cents, or 1.2 percent, to $14. The company said demand for new vehicles is accelerating in the U.S. Ford plans to hire 2,200 engineers, computer programmers and other white-collar workers this year. The automaker said Thursday it was raising its dividend.

”” Corning fell 19 cents, or 1.5 percent, to $12.45 after Goldman Sachs removed cut its rating on the specialty glass manufacturer to "neutral" from "buy," saying that it expected first quarter sales to decline more than previously expected.

1668

 

[bigdog]

Source: http://finance.yahoo.com

Apple held down the Standard & Poor's 500, pushing it further below the five-year high it reached last week, after the technology giant's stock sank following a report that demand for the iPhone 5 may be weaker than expected. The Dow Jones industrial average edged higher.

The Dow rose 18.89 points to 13,507.32 Monday, having fallen as much as 29 points at the start of the day. The S&P 500 fell 1.37 point to 1,470.68. The Nasdaq composite index fell 8.13 points to 3,117.50

The S&P 500 closed at a five-year high of 1,472 on Thursday, following a solid start to the fourth-quarter earnings reporting period and amid optimism that the outlook for global growth is brightening.

Apple's stock, which isn't included in the Dow but accounts for 10.3 percent of the Nasdaq index and 3.7 percent of the S&P, slid $18.55 to $501.75 after The Wall Street Journal reported that the company has reduced its orders for iPhone 5 components due to weak demand. Apple slipped below $500 a share for the first time in nearly a year in early trading. The stock has slumped 28 percent since closing at a record $702.10 in September.

Computer maker Dell surged $1.41, or 13 percent, to $12.29 following a report that it's in talks with buyout firms. The company is considering going private with at least two firms, Bloomberg news reported, citing unidentified sources.

Earnings reporting will pick up this week with many big U.S. banks, including JPMorgan Chase, Citigroup and Bank of America releasing results.

"The market is definitely in wait and see mode," said Brian Gendreau, a market strategist at Cetera Financial Group.

Investors will be scrutinizing revenues to assess whether the drawn-out debate over the "fiscal cliff" had an impact on consumer spending. A series of tax hikes and spending cuts due to come into effect Jan. 1 were only averted by a last-minute deal.

Earnings growth has likely peaked for now because companies have been relying on cost cutting, rather than growth, to boost profitability, says Ron Sloan, a senior portfolio manager at Invesco. Analysts currently forecast that fourth-quarter 2012 earnings for S&P 500 companies will increase 3.3 percent, according to S&P Capital IQ. That compares with 8.4 percent from the same period a year earlier.

The NYSE DOW closed HIGHER ▲ 18.89 points or ▲ 0.14% Monday, 14 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,507.32 ▲ 18.89 ▲ 0.14%
Nasdaq____ 3,117.50 ▼ -8.13 ▼ -0.26%
S&P_500____ 1,470.68 ▼ -1.37 ▼ -0.09%
30_Yr_Bond____ 3.044 ▼ -0.01 ▼ -0.33%

NYSE Volume 2,918,099,250
Nasdaq Volume 1,877,292,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,107.86 ▼ -13.72 ▼ -0.22%
DAX_____ 7,729.52 ▲ 13.99 ▲ 0.18%
CAC_40__ 3,708.25 ▲ 2.23 ▲ 0.06%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,745.70 ▲ 11.90 ▲ 0.25%
Shanghai_Comp 2,311.74 ▲ 68.74 ▲ 3.06%
Taiwan_Weight 7,823.97 ▲ 4.82 ▲ 0.06%
Nikkei_225____ 10,801.57 ▲ 148.93 ▲ 1.40%
Hang_Seng____ 23,413.26 ▲ 53.93 ▲ 0.64%
Strait_Times___ 3,206.59 ▼ -9.91 ▼ -0.31%
NZX_50_Index__ 4,153.92 ▲ 22.16 ▲ 0.54%

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

Stocks little changed on Wall Street; Apple slides

Stocks little changed; Apple slides on iPhone worries, Dell surges on private equity reports

By Steve Rothwell, AP Business Writer

Apple held down the Standard & Poor's 500, pushing it further below the five-year high it reached last week, after the technology giant's stock sank following a report that demand for the iPhone 5 may be weaker than expected. The Dow Jones industrial average edged higher.

The Dow rose 18.89 points to 13,507.32 Monday, having fallen as much as 29 points at the start of the day. The S&P 500 fell 1.37 point to 1,470.68. The Nasdaq composite index fell 8.13 points to 3,117.50

The S&P 500 closed at a five-year high of 1,472 on Thursday, following a solid start to the fourth-quarter earnings reporting period and amid optimism that the outlook for global growth is brightening.

Apple's stock, which isn't included in the Dow but accounts for 10.3 percent of the Nasdaq index and 3.7 percent of the S&P, slid $18.55 to $501.75 after The Wall Street Journal reported that the company has reduced its orders for iPhone 5 components due to weak demand. Apple slipped below $500 a share for the first time in nearly a year in early trading. The stock has slumped 28 percent since closing at a record $702.10 in September.

Computer maker Dell surged $1.41, or 13 percent, to $12.29 following a report that it's in talks with buyout firms. The company is considering going private with at least two firms, Bloomberg news reported, citing unidentified sources.

Earnings reporting will pick up this week with many big U.S. banks, including JPMorgan Chase, Citigroup and Bank of America releasing results.

"The market is definitely in wait and see mode," said Brian Gendreau, a market strategist at Cetera Financial Group.

Investors will be scrutinizing revenues to assess whether the drawn-out debate over the "fiscal cliff" had an impact on consumer spending. A series of tax hikes and spending cuts due to come into effect Jan. 1 were only averted by a last-minute deal.

Earnings growth has likely peaked for now because companies have been relying on cost cutting, rather than growth, to boost profitability, says Ron Sloan, a senior portfolio manager at Invesco. Analysts currently forecast that fourth-quarter 2012 earnings for S&P 500 companies will increase 3.3 percent, according to S&P Capital IQ. That compares with 8.4 percent from the same period a year earlier.

"We have to make this transition....from depending on margins and cost-cutting to an old-fashioned, animal spirits, industrial recovery where companies are willing to spend money to hire people," said Invesco's Sloan.

Federal Reserve Bank of Chicago President Charles Evans, an alternate member of the Fed's Open Market Committee, said Monday in a speech in Hong Kong that central banks should help create conditions to foster "robust demand growth" as the U.S. and other advanced economies try to reduce debt.

President Barack Obama is currently urging Congress to increase the nation's borrowing limit so it can continue paying its bills. The government has hit its $16.4 trillion debt limit and is expected to run out of ways to meet all of its obligations around March 1, perhaps earlier. Republicans wants spending cuts in exchange for raising the debt ceiling.

Failure to lift the borrowing limit, or debt ceiling, would be "a self-inflicted wound" to the economy and cause turmoil on financial markets, Obama told a White House news conference on Monday.

The yield on the 10-year Treasury note, which moves inversely to its price, was little changed at 1.86 percent.

Among other stocks making big moves:

”” H.H. Gregg, a home appliances retailer, fell 45 cents, or 5.7 percent, to $7.44 after the company lowered its earnings forecast for fiscal 2013, citing declining demand for flat screen televisions.

”” Harry Winston Diamond Corp. gained 62 cents to $15.08 after the company agreed to sell its namesake retail jewelry and watch division to Switzerland's Swatch Group in a deal valued at $1 billion.

”” Sprint Nextel fell 23 cents, 3.9 percent, to $5.69 after JPMorgan cuts its rating on the stock to "neutral" to "overweight." The bank's analysts expect the company to spend big on capital investment this year and say that the outlook for subscriber growth in uncertain.

”” United Parcel Service gained $1.32, or 1.7 percent, to $79.24 after the company scrapped plans to grow in Europe through the acquisition of Dutch delivery company TNT Express because of opposition from European regulators. The $6.9 billion deal would have been the largest acquisition in UPS's history.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks edged higher on Wall Street after a rally in retail stocks offset concerns about flaring tensions in Washington over increasing the country's borrowing limit.

The Dow Jones industrial average ended the day up 27.57 points at 13,534.89. The Dow moved higher in the late afternoon after being down as much as 62 points in the early going.

The Standard and Poor's 500 rose 1.66 points to 1,472.34, a five-year high. The Nasdaq composite index, dragged down by a fall in Apple, fell 6.72 points to 3,110.78.

Retail stocks moved higher throughout the day, boosted by a report that showed retail sales increased in December, helping the major indexes reverse early losses.

Consumers bought more autos, furniture and clothing, despite worries about potential tax increases, the Commerce Department said Tuesday. Sales rose 0.5 percent in December from November, slightly better than November's 0.4 percent increase and the best showing since September.

J.C. Penney rose 62 cents, or 3.4 percent, to $18.71. Dollar General gained $1.62, or 3.8 percent, to $44.64. Ford advanced 31 cents, or 2.2 percent, to $14.30.

Treasury Secretary Timothy Geithner told congressional leaders in a letter late Monday that the U.S. government will reach its borrowing limit as soon as mid-February, earlier than expected. Federal Reserve Chairman Ben Bernanke also commented on the issue Monday, saying it was one of the "critical fiscal watersheds" for the government in coming weeks.

President Barack Obama has criticized congressional Republicans for linking talks over raising the debt ceiling to ongoing budget negotiations. Obama said the consequences of the U.S. government defaulting on its debt would be disastrous and shouldn't be used as a bargaining chip to extract concessions on spending cuts.

"We are very concerned how the market is going to respond to all the news events that will be coming out of Washington over the next few months," said Eric Wiegand, a senior portfolio manager at U.S. Bank Wealth Management. "It really comes down to the uncertainty and the risk of a further downgrade of our debt."

Markets were roiled in the summer of 2011 as lawmakers haggled over an increase to the debt limit. The dispute cost the U.S. its AAA ranking from the credit-rating firm Standard and Poor's.

The U.S. fiscal crisis is still the biggest single individual risk facing investors, with 37 percent of investors naming it as the biggest worry, according to a survey of fund managers published by Bank of America Merrill Lynch Tuesday. The European debt crisis was cited as the biggest concern by 23 percent of those polled and a "hard landing" for the Chinese economy was third on the list with 12 percent.

The NYSE DOW closed HIGHER ▲ 27.57 points or ▲ 0.20% Tuesday, 15 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,534.89 ▲ 27.57 ▲ 0.20%
Nasdaq____ 3,110.78 ▼ -6.72 ▼ -0.22%
S&P_500____ 1,472.34 ▲ 1.66 ▲ 0.11%
30_Yr_Bond____ 3.017 ▼ -0.03 ▼ -0.89%

NYSE Volume 3,331,416,250
Nasdaq Volume 1,852,201,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,117.31 ▲ 9.45 ▲ 0.15%
DAX_____ 7,675.91 ▼ -53.61 ▼ -0.69%
CAC_40__ 3,697.35 ▼ -10.90 ▼ -0.29%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,743.00 ▼ -2.70 ▼ -0.06%
Shanghai_Comp 2,325.68 ▲ 13.94 ▲ 0.60%
Taiwan_Weight 7,765.02 ▼ -58.95 ▼ -0.75%
Nikkei_225____ 10,879.08 ▲ 77.51 ▲ 0.72%
Hang_Seng____ 23,381.51 ▲ 53.93 ▼ -0.14%
Strait_Times___ 3,196.07 ▼ -10.52 ▼ -0.33%
NZX_50_Index__ 4,170.96 ▲ 17.04 ▲ 0.41%

http://finance.yahoo.com/news/stocks-edge-higher-retailers-rally-212618290.html

Stocks edge higher as retailers rally
Indexes edge higher on Wall Street as retail stocks rally, offsetting US fiscal worries
By Steve Rothwell, AP Business Writer

Stocks edged higher on Wall Street after a rally in retail stocks offset concerns about flaring tensions in Washington over increasing the country's borrowing limit.

The Dow Jones industrial average ended the day up 27.57 points at 13,534.89. The Dow moved higher in the late afternoon after being down as much as 62 points in the early going.

The Standard and Poor's 500 rose 1.66 points to 1,472.34, a five-year high. The Nasdaq composite index, dragged down by a fall in Apple, fell 6.72 points to 3,110.78.

Retail stocks moved higher throughout the day, boosted by a report that showed retail sales increased in December, helping the major indexes reverse early losses.

Consumers bought more autos, furniture and clothing, despite worries about potential tax increases, the Commerce Department said Tuesday. Sales rose 0.5 percent in December from November, slightly better than November's 0.4 percent increase and the best showing since September.

J.C. Penney rose 62 cents, or 3.4 percent, to $18.71. Dollar General gained $1.62, or 3.8 percent, to $44.64. Ford advanced 31 cents, or 2.2 percent, to $14.30.

Treasury Secretary Timothy Geithner told congressional leaders in a letter late Monday that the U.S. government will reach its borrowing limit as soon as mid-February, earlier than expected. Federal Reserve Chairman Ben Bernanke also commented on the issue Monday, saying it was one of the "critical fiscal watersheds" for the government in coming weeks.

President Barack Obama has criticized congressional Republicans for linking talks over raising the debt ceiling to ongoing budget negotiations. Obama said the consequences of the U.S. government defaulting on its debt would be disastrous and shouldn't be used as a bargaining chip to extract concessions on spending cuts.

"We are very concerned how the market is going to respond to all the news events that will be coming out of Washington over the next few months," said Eric Wiegand, a senior portfolio manager at U.S. Bank Wealth Management. "It really comes down to the uncertainty and the risk of a further downgrade of our debt."

Markets were roiled in the summer of 2011 as lawmakers haggled over an increase to the debt limit. The dispute cost the U.S. its AAA ranking from the credit-rating firm Standard and Poor's.

The U.S. fiscal crisis is still the biggest single individual risk facing investors, with 37 percent of investors naming it as the biggest worry, according to a survey of fund managers published by Bank of America Merrill Lynch Tuesday. The European debt crisis was cited as the biggest concern by 23 percent of those polled and a "hard landing" for the Chinese economy was third on the list with 12 percent.

Apple fell $15.83, or 3.2 percent, to $485.92, closing below $500 for the first time in almost a year. Apple slumped 3.6 percent Monday on concern that demand for its iPhone 5 is slowing. Nomura analysts today lowered their target price for the stock to $530 from $660 and cut their estimates for iPhone sales this year.

Both the S&P 500 and the Dow are up on the year, having surged in the first week of January after lawmakers reached a last-minute budget deal to stop the economy going over the "cliff." The agreement prevented a series of tax increases and spending cuts that could have pushed the U.S. economy back into recession, according to economists.

Optimism about the outlook for global growth has also boosted stocks.

The S&P 500 is up 3.2 percent this year. The 30-member Dow is up 3.3 percent since the start of 2013.

The yield on the 10-year Treasury note, which moves inversely to its price, was little changed at 1.84 percent.

Among other stocks making big moves;

”” Dell gained 88 cents, or 7.2 percent, to $13.17, rising for a second day on a report that the computer maker is in talks with private equity firms about a buyout.

”” Facebook fell 85 cents, or 2.7 percent, to $30.10, paring its gains for the year to 13 percent, after the company unveiled a new feature Tuesday that lets users search their social connections for information about people, interests, photos and places.

”” Lululemon Athletica, a maker of yoga apparel, dropped $2.83, or 3.9 percent, to $69.47 after its revenue forecast fell short of analysts' estimates.

”” Given Imaging Ltd. fell $2.10, or 11.5 percent, to $16.10 after the medical equipment company said it was no longer considering a sale. Also one of its largest shareholders plans to sell its stake.

 

[bigdog]

Source: http://finance.yahoo.com

More problems for Boeing's 787 sent the aircraft maker's stock down sharply Wednesday, dragging the Dow Jones industrial average lower.

Japan's two biggest airlines grounded all their Boeing 787s for safety checks Wednesday after one was forced to make an emergency landing. The plane, known as the Dreamliner, has been plagued by a series of problems this year, including a battery fire and fuel leaks. Boeing's stock sank $2.60 to $74.34, a loss of 3 percent.

The Dow lost 23.66 points to close at 13,511.23. Without Boeing's drop, the Dow would have ended the day nearly flat.

The Standard & Poor's 500 index inched up 0.29 to 1,472.63. A gain in Apple helped pull the Nasdaq composite up 6.77 points to 3,117.54.

Apple rose $20.17 to $506.09, ending a three-day slide. The world's largest publicly traded company closed below $500 on Tuesday for the first time in nearly a year. Concerns that the popularity of its iPhone is waning have pushed Apple's stock down 5 percent this month.

Goldman Sachs and JPMorgan Chase, the country's largest bank, rose after both posted quarterly results that trounced analysts' estimates.

Harry Clark, chairman of Clark Capital Management Group in Philadelphia, described JPMorgan's numbers as staggering. The bank's quarterly earnings jumped 55 percent and total revenue for the year hit $100 billion.

"Their earnings are just ridiculously good," Clark said. "It shows you that these giants can make money in any type of environment."

The NYSE DOW closed LOWER ▼ -23.66 points or ▼ -0.17% Wednesday, 16 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,511.23 ▼ -23.66 ▼ -0.17%
Nasdaq____ 3,117.54 ▲ 6.76 ▲ 0.22%
S&P_500____ 1,472.63 ▲ 0.29 ▲ 0.02%
30_Yr_Bond____ 3.019 ▲ 0.00 ▲ 0.07%

NYSE Volume 3,369,743,750
Nasdaq Volume 1,694,502,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,103.98 ▼ -13.33 ▼ -0.22%
DAX_____ 7,691.13 ▲ 15.22 ▲ 0.20%
CAC_40__ 3,708.49 ▲ 11.14 ▲ 0.30%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,765.00 ▲ 22.00 ▲ 0.46%
Shanghai_Comp 2,309.50 ▼ -16.18 ▼ -0.70%
Taiwan_Weight 7,700.43 ▼ -64.59 ▼ -0.83%
Nikkei_225____ 10,600.44 ▼ -278.64 ▼ -2.56%
Hang_Seng____ 23,356.99 ▲ 53.93 ▼ -0.10%
Strait_Times___ 3,208.50 ▲ 12.43 ▲ 0.39%
NZX_50_Index__ 4,169.23 ▼ -1.72 ▼ -0.04%

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

Boeing leads Dow lower; other indexes mixed

Boeing drags Dow down after Japan grounds 787s; other indexes mixed after banks post earnings

By Matthew Craft, AP Business Writer

More problems for Boeing's 787 sent the aircraft maker's stock down sharply Wednesday, dragging the Dow Jones industrial average lower.

Japan's two biggest airlines grounded all their Boeing 787s for safety checks Wednesday after one was forced to make an emergency landing. The plane, known as the Dreamliner, has been plagued by a series of problems this year, including a battery fire and fuel leaks. Boeing's stock sank $2.60 to $74.34, a loss of 3 percent.

The Dow lost 23.66 points to close at 13,511.23. Without Boeing's drop, the Dow would have ended the day nearly flat.

The Standard & Poor's 500 index inched up 0.29 to 1,472.63. A gain in Apple helped pull the Nasdaq composite up 6.77 points to 3,117.54.

Apple rose $20.17 to $506.09, ending a three-day slide. The world's largest publicly traded company closed below $500 on Tuesday for the first time in nearly a year. Concerns that the popularity of its iPhone is waning have pushed Apple's stock down 5 percent this month.

Goldman Sachs and JPMorgan Chase, the country's largest bank, rose after both posted quarterly results that trounced analysts' estimates.

Harry Clark, chairman of Clark Capital Management Group in Philadelphia, described JPMorgan's numbers as staggering. The bank's quarterly earnings jumped 55 percent and total revenue for the year hit $100 billion.

"Their earnings are just ridiculously good," Clark said. "It shows you that these giants can make money in any type of environment."

Slightly smaller financial firms, such as Northern Trust and Bank of New York Mellon, reported weaker earnings and their stocks sank.

JPMorgan Chase gained 47 cents to $46.82. The bank's stunning results were offset by an internal review of a $6 billion trading loss on credit derivatives. JPMorgan's board of directors criticized executives for failing to keep the board informed of potential problems and using unapproved models for measuring trading risks.

Goldman Sachs gained $5.50 to $141.09, a 4 percent jump. The investment bank's profits nearly tripled in the fourth quarter of last year. Goldman's bond underwriting business had its best year since the financial crisis, thanks to strong demand for fixed-income investments and companies lining up to borrow at historically cheap rates.

Analysts forecast that companies in the S&P 500 will report a 3.2 percent increase in fourth-quarter earnings. Financial firms and consumer-discretionary companies are expected to post the biggest growth, according to S&P Capital IQ.

The Labor Department said consumer prices were flat last month as gas prices sank. The December reading of the consumer price index capped a year of tame inflation. Consumer prices increased just 1.7 percent in 2012, down from 3 percent in 2011.

The report led traders to push up prices for Treasurys, knocking yields down. The 10-year Treasury note's yield slipped to 1.82 percent. The yield, used to set mortgages and a wide variety of other loans, ended Tuesday at 1.84 percent.

Among other companies making news:

”” Wendy's rose 4 percent, or 18 cents, to $5.08. The hamburger chain, known for its Frosty shakes and square burgers, earnings topped Wall Street's estimates, even as a key indicator of sales at North American restaurants dipped slightly.

”” Chipotle Mexican Grill dropped 6 percent. The burrito chain warned that its quarterly earnings would fall short of previous forecasts because it underestimated the hit it would take from higher food costs. Chipotle's stock lost $16.38 to $280.94.

”” Genworth Financial jumped 9 percent, the largest gain in the S&P 500. The financial services company laid out a plan to reorganize its business, including putting its mortgage unit under a new company. Genworth's stock gained 72 cents to $8.85.

 

[bigdog]

Source: http://finance.yahoo.com

The Standard and Poor's 500 index climbed to another five-year high after strong reports on housing starts and unemployment claims made investors more optimistic about the U.S. economy.

The S&P 500 gained 8.31 points to close at 1,480.94, its highest level since December 2007. The Dow Jones industrial average also rose, climbing to a five-year high during the day, before falling back to finish 84.79 points higher at 13,596.02. The Nasdaq composite climbed 18.46 points to 3,136.

U.S. builders started work on homes in December at the fastest pace since the summer of 2008, the Commerce Department said Thursday. Homebuilder stocks rose broadly following the report. The S&P 500's homebuilding index climbed 3.8 percent, its biggest gain in almost a month. PulteGroup led the advance with a jump of $1.03, or 5.3 percent, to $20.37.

The number of Americans seeking unemployment benefits fell to a five-year low last week, the Labor Department reported, the latest sign that the job market is healing. Weekly unemployment benefit applications fell 37,000 to 335,000, a bigger decline than economists had forecast, according to financial data provider FactSet.

The reports helped offset disappointment over the fourth-quarter earnings reports of two of the nation's biggest banks, Citigroup and Bank of America, said JJ Kinahan, chief derivatives strategist at TD Ameritrade.

"The financial stocks are having a tough time impressing the Street with anything," Kinahan said. "The traditional banks are getting squeezed on margins and the expectations for a lot of those companies had already been set low."

Citigroup fell $1.24, or 2.9 percent, to $41.24 after its income fell well short of Wall Street's expectations. The bank's legal expenses rose and it released less money from its loan-loss reserves.

Bank of America dropped 50 cents, or 4.2 percent, to $11.28 after its earnings declined. The bank is continuing to work on clearing up old problems at its mortgage unit. The bank made $367 million in the last three months of 2012 after paying preferred dividends, down sharply from $1.6 billion in the same period a year ago.

The NYSE DOW closed HIGHER ▲ 84.79 points or ▲ 0.63% Thursday, 17 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,596.02 ▲ 84.79 ▲ 0.63%
Nasdaq____ 3,136.00 ▲ 18.46 ▲ 0.59%
S&P_500____ 1,480.94 ▲ 8.31 ▲ 0.56%
30_Yr_Bond____ 3.068 ▲ 0.05 ▲ 1.62%

NYSE Volume 3,966,953,250
Nasdaq Volume 1,766,330,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,132.36 ▲ 28.38 ▲ 0.46%
DAX_____ 7,735.46 ▲ 44.33 ▲ 0.58%
CAC_40__ 3,744.11 ▲ 35.62 ▲ 0.96%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,779.70 ▲ 14.70 ▲ 0.31%
Shanghai_Comp 2,284.91 ▼ -24.59 ▼ -1.06%
Taiwan_Weight 7,616.64 ▼ -83.79 ▼ -1.09%
Nikkei_225____ 10,609.64 ▲ 9.20 ▲ 0.09%
Hang_Seng____ 23,339.76 ▲ 53.93 ▼ -0.07%
Strait_Times___ 3,195.10 ▼ -13.40 ▼ -0.42%
NZX_50_Index__ 4,196.81 ▲ 27.58 ▲ 0.66%

http://finance.yahoo.com/news/p-500-surges-housing-starts-214652619.html

S&P 500 surges on housing starts, jobless claims

S&P 500 hits another 5-year high after getting a boost from housing report; eBay jumps

By Steve Rothwell, AP Business Writer

The Standard and Poor's 500 index climbed to another five-year high after strong reports on housing starts and unemployment claims made investors more optimistic about the U.S. economy.

The S&P 500 gained 8.31 points to close at 1,480.94, its highest level since December 2007. The Dow Jones industrial average also rose, climbing to a five-year high during the day, before falling back to finish 84.79 points higher at 13,596.02. The Nasdaq composite climbed 18.46 points to 3,136.

U.S. builders started work on homes in December at the fastest pace since the summer of 2008, the Commerce Department said Thursday. Homebuilder stocks rose broadly following the report. The S&P 500's homebuilding index climbed 3.8 percent, its biggest gain in almost a month. PulteGroup led the advance with a jump of $1.03, or 5.3 percent, to $20.37.

The number of Americans seeking unemployment benefits fell to a five-year low last week, the Labor Department reported, the latest sign that the job market is healing. Weekly unemployment benefit applications fell 37,000 to 335,000, a bigger decline than economists had forecast, according to financial data provider FactSet.

The reports helped offset disappointment over the fourth-quarter earnings reports of two of the nation's biggest banks, Citigroup and Bank of America, said JJ Kinahan, chief derivatives strategist at TD Ameritrade.

"The financial stocks are having a tough time impressing the Street with anything," Kinahan said. "The traditional banks are getting squeezed on margins and the expectations for a lot of those companies had already been set low."

Citigroup fell $1.24, or 2.9 percent, to $41.24 after its income fell well short of Wall Street's expectations. The bank's legal expenses rose and it released less money from its loan-loss reserves.

Bank of America dropped 50 cents, or 4.2 percent, to $11.28 after its earnings declined. The bank is continuing to work on clearing up old problems at its mortgage unit. The bank made $367 million in the last three months of 2012 after paying preferred dividends, down sharply from $1.6 billion in the same period a year ago.

Kim Caughey Forrest, a senior analyst at Fort Pitt Capital Group, said it was too early to conclude that the housing market had turned the corner. She noted that a large "shadow inventory" of houses that still need to be foreclosed on may weigh on house prices in the coming months.

"This rally is probably a little bit too optimistic for the information that we got," Caughey Forrest said. "There's some conflicting information here and the market has just decided to overlook the negative thing."

The indexes powered higher even as more discouraging news about manufacturing came out. The Philadelphia branch of the Federal Reserve reported that manufacturing contracted this month in the mid-Atlantic region. On Tuesday, the Fed's New York branch reported that manufacturing in its own district was worsening.

Stocks started 2013 with a rally after lawmakers came up with a last-minute plan to stop the U.S. going over the "fiscal cliff," a series of tax hikes and spending cuts that economists say would probably have pushed the U.S. into recession.

The Dow and the S&P 500 are both up 3.8 percent since the start of January.

The yield on the 10-year Treasury note, which moves inversely to its price, rose four basis points to 1.88 percent.

Other stocks making big moves:

”” EBay rose $1.27, or 2.4 percent, to $54.17 after reporting fourth-quarter earnings that exceeded analysts' expectations. Bargain-hunting holiday shoppers flocked to eBay's online shopping mall and digital payment service, PayPal.

”” CBS surged $3.01, or 7.9 percent, to $40.95 after the media company said late Wednesday that it was converting its U.S. outdoor advertising business to a real estate investment trust and selling the international portion of the business. Deutsche Bank analysts lifted their target price on the stock to $47 from $40, saying the conversion to a REIT "meaningfully enhances value."

”” BlackRock gained $9.76, or 4.4 percent, to $232 after the investment manager said its fourth-quarter net income surged, beating analysts' forecasts. The company also increased its dividend and said it may buy back more stock

 

[bigdog]

Source: http://finance.yahoo.com

Better earnings from General Electric and Morgan Stanley helped the stock market inch higher Friday, as major indexes closed out their third straight week of gains.

GE led the 30 stocks in the Dow Jones industrial average after the conglomerate reported stronger quarterly earnings, thanks to orders from Brazil, Angola and other developing countries. Profits increased at all seven of its industrial segments, including oil and gas, energy management, aviation and transportation. GE climbed 74 cents to $22.04.

The Dow gained 53.68 points to end at 13,649.70.

The Standard & Poor's 500 index rose 5.04 points to 1,485.98, while the Nasdaq composite fell 1.30 points to 3,134.70.

Even though investors had plenty of news to digest, trading was largely quiet. "Earnings always matter," said Rex Macey, the chief investment officer of Wilmington Trust Investment Advisors in Atlanta. "But just because we're in the middle of earnings season doesn't mean we're going to get huge market moves."

This earnings season is off to a good start so far. Of the 67 companies in the S&P 500 that have reported, 43 have trumped analysts' estimates.

Solid results this week from JPMorgan Chase and others, along with encouraging news on housing and employment, pushed the S&P 500 index to its latest five-year high.

Morgan Stanley's earnings surged across its many business lines, as more companies hired the investment bank to help it raise money and line up mergers. Morgan Stanley gained 8 percent, rising $1.63 to $22.38.

Analysts forecast that companies in the S&P 500 will report a 4 percent increase in fourth-quarter earnings over the same period the year before, according to a report out Friday from S&P Capital IQ. They say banks and other financial firms should have the strongest profit growth of any industry. Technology companies like Intel are expected to struggle.

The NYSE DOW closed HIGHER ▲ 53.68 points or ▲ 0.39% Friday, 18 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,649.70 ▲ 53.68 ▲ 0.39%
Nasdaq____ 3,134.71 ▼ -1.29 ▼ -0.04%
S&P_500____ 1,485.98 ▲ 5.04 ▲ 0.34%
30_Yr_Bond____ 3.031 ▼ -0.04 ▼ -1.21%

NYSE Volume 4,019,337,750
Nasdaq Volume 1,890,532,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,154.41 ▲ 22.05 ▲ 0.36%
DAX_____ 7,702.23 ▼ -33.23 ▼ -0.43%
CAC_40__ 3,741.58 ▼ -2.53 ▼ -0.07%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,794.70 ▲ 15.00 ▲ 0.31%
Shanghai_Comp 2,317.07 ▲ 32.16 ▲ 1.41%
Taiwan_Weight 7,732.87 ▲ 116.23 ▲ 1.53%
Nikkei_225____ 10,913.30 ▲ 303.66 ▲ 2.86%
Hang_Seng____ 23,601.78 ▲ 53.93 ▲ 1.12%
Strait_Times___ 3,211.22 ▲ 16.12 ▲ 0.50%
NZX_50_Index__ 4,164.18 ▼ -32.63 ▼ -0.78%

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

Stocks end week with gains; GE rises, Intel falls

S&P 500 index closes with third straight week of gains; GE climbs after better earnings

By Matthew Craft, AP Business Writer

Better earnings from General Electric and Morgan Stanley helped the stock market inch higher Friday, as major indexes closed out their third straight week of gains.

GE led the 30 stocks in the Dow Jones industrial average after the conglomerate reported stronger quarterly earnings, thanks to orders from Brazil, Angola and other developing countries. Profits increased at all seven of its industrial segments, including oil and gas, energy management, aviation and transportation. GE climbed 74 cents to $22.04.

The Dow gained 53.68 points to end at 13,649.70.

The Standard & Poor's 500 index rose 5.04 points to 1,485.98, while the Nasdaq composite fell 1.30 points to 3,134.70.

Even though investors had plenty of news to digest, trading was largely quiet. "Earnings always matter," said Rex Macey, the chief investment officer of Wilmington Trust Investment Advisors in Atlanta. "But just because we're in the middle of earnings season doesn't mean we're going to get huge market moves."

This earnings season is off to a good start so far. Of the 67 companies in the S&P 500 that have reported, 43 have trumped analysts' estimates.

Solid results this week from JPMorgan Chase and others, along with encouraging news on housing and employment, pushed the S&P 500 index to its latest five-year high.

Morgan Stanley's earnings surged across its many business lines, as more companies hired the investment bank to help it raise money and line up mergers. Morgan Stanley gained 8 percent, rising $1.63 to $22.38.

Intel, the world's biggest chipmaker, said late Thursday that fourth-quarter net income fell 27 percent. A growing preference for smartphones and tablets, instead of personal computers and laptops powered by Intel chips, have made investors wary of the company's stock. It lost $1.43 to $21.25.

Norwegian Cruise Line soared 30 percent in its first day of trading, the top performance of the three companies making their public debut on Friday. Five companies raised a total of $1.8 billion through initial public offerings this week, making it the best week for IPOs since early October, according to the data provider Ipreo.

American Express fell 96 cents to $59.78. Hefty charges tied to the credit card issuer's plan to cut jobs and reorganize some business lines hurt results, and revenue fell short of estimates.

Analysts forecast that companies in the S&P 500 will report a 4 percent increase in fourth-quarter earnings over the same period the year before, according to a report out Friday from S&P Capital IQ. They say banks and other financial firms should have the strongest profit growth of any industry. Technology companies like Intel are expected to struggle.

Among other companies in the news:

”” Capital One lost 7 percent after reporting revenue and earnings that fell short of analysts' estimates. The bank and credit-card company also lowered its forecast for revenue in the months to come, and many brokerages quickly responded by cutting their outlook for the company's stock. Capital One sank $4.60 to $56.99.

”” Life Technologies, a maker of genetic testing equipment, soared 11 percent following reports that it's considering putting itself up for sale. The company's board said it has hired Deutsche Bank Securities and the investment bank Moelis & Co. Life Technologies' stock jumped $5.82 to $60.79

2440

 

[bigdog]

Source: http://finance.yahoo.com

Hopes that U.S. politicians will be able to reach a deal on raising the government's debt limit, avoiding the risk of a disastrous default, supported global markets on Monday, when Wall Street will remain closed for a holiday.

Congress must agree by the end of February to increase the limit on how much the U.S. can borrow so the government can service its debt. If it doesn't, the country could default, which would deal a heavy blow to global financial markets and undermine confidence in the world's largest economy.

The Republicans appear ready to raise the debt ceiling temporarily and have also backed away from their insistence on deep spending concessions in exchange for a deal. The signs of compromise encouraged investors to buy into stock indexes, many of which are near multi-year highs.

"Although this again could be seen as another round of political battle, any progress to avoid immediate dangers will likely be seen as positive by the market," said Gary Yau, analyst at Credit Agricole CIB, in a report to investors.

Britain's FTSE 100 closed Monday up 0.43 percent to 6,180.98 while Germany's DAX had advanced 0.36 percent to 7,729.80. France's CAC-40 ended the day up 0.2 percent to 3,749.79.

U.S. stock and bond markets are closed for Martin Luther King, Jr. Day.

Earlier in Asia, markets were more cautious, with Japanese shares hit hard by a rise in the yen. The Nikkei 225 fell 1.5 percent to close at 10,747.74.

The NYSE DOW was closed on Monday, 21 January 2013 for the Martin Luther King, Jr. Day Holiday.

On Friday January 18 the DOW closed higher

Symbol …........Last ......Change.....
Dow_Jones 13,649.70 ▲ 53.68 ▲ 0.39%
Nasdaq____ 3,134.71 ▼ -1.29 ▼ -0.04%
S&P_500____ 1,485.98 ▲ 5.04 ▲ 0.34%
30_Yr_Bond____ 3.031 ▼ -0.04 ▼ -1.21%

NYSE Volume 4,019,337,750
Nasdaq Volume 1,890,532,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,180.98 ▲ 48.62 ▲ 0.79%
DAX_____ 7,748.86 ▲ 46.63 ▲ 0.61%
CAC_40__ 3,763.03 ▲ 21.45 ▲ 0.57%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,802.20 ▲ 7.50 ▲ 0.16%
Shanghai_Comp 2,328.22 ▲ 11.15 ▲ 0.48%
Taiwan_Weight 7,724.92 ▼ -7.95 ▼ -0.10%
Nikkei_225____ 10,747.74 ▼ -165.56 ▼ -1.52%
Hang_Seng____ 23,590.91 ▲ 53.93 ▼ -0.05%
Strait_Times___ 3,221.32 ▲ 10.10 ▲ 0.31%
NZX_50_Index__ 4,185.18 ▲ 21.00 ▲ 0.50%

http://finance.yahoo.com/news/glimmer-hope-us-debt-talks-115406954.html

Glimmer of hope in US debt talks buoys markets

Global stock markets mostly edge higher on hope for US debt talks; Wall Street to stay closed

By Carlo Piovano, Associated Press

Hopes that U.S. politicians will be able to reach a deal on raising the government's debt limit, avoiding the risk of a disastrous default, supported global markets on Monday, when Wall Street will remain closed for a holiday.

Congress must agree by the end of February to increase the limit on how much the U.S. can borrow so the government can service its debt. If it doesn't, the country could default, which would deal a heavy blow to global financial markets and undermine confidence in the world's largest economy.

The Republicans appear ready to raise the debt ceiling temporarily and have also backed away from their insistence on deep spending concessions in exchange for a deal. The signs of compromise encouraged investors to buy into stock indexes, many of which are near multi-year highs.

"Although this again could be seen as another round of political battle, any progress to avoid immediate dangers will likely be seen as positive by the market," said Gary Yau, analyst at Credit Agricole CIB, in a report to investors.

Britain's FTSE 100 closed Monday up 0.43 percent to 6,180.98 while Germany's DAX had advanced 0.36 percent to 7,729.80. France's CAC-40 ended the day up 0.2 percent to 3,749.79.

U.S. stock and bond markets are closed for Martin Luther King, Jr. Day.

Dickie Wong, executive director of research at Kingston Securities in Hong Kong, said he was optimistic that an agreement on the U.S. debt ceiling would be reached because of the high price tag attached to failing to do so.

"Both parties will find some kind of solution because they all know that the debt ceiling will have to be increased," Wong said. "At the very last minute, they will sort it out."

Earlier in Asia, markets were more cautious, with Japanese shares hit hard by a rise in the yen. The Nikkei 225 fell 1.5 percent to close at 10,747.74.

The Bank of Japan began a two-day policy meeting and has been under pressure from the new government to take more aggressive steps to fight the long deflationary slump in the world's third largest economy. Some analysts expect the bank to expand its asset-purchasing program and set an inflation target.

South Korea's Kospi dropped 0.1 percent to 1,986.86. Hong Kong's Hang Seng fell 0.1 percent to 23,590.91. Australia's S&P/ASX 200 rose 0.1 percent to 4,777.50.

In mainland China, the Shanghai Composite Index gained 0.5 percent to 2,328.22 while the smaller Shenzhen Composite Index rose 0.7 percent to 942.50.

In commodity markets, the benchmark oil contract for February delivery was down 50 cents to $95.06 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 7 cents to finish at $95.56 per barrel on the Nymex on Friday.

In currencies, the euro fell to $1.3301 from $1.3320 late Friday in New York. The dollar fell to 89.49 yen from 90.03 yen.

 

[bigdog]

Source: http://finance.yahoo.com

Strong earnings reports from big U.S. companies helped push the Dow Jones industrial average to its eighth gain in nine sessions Tuesday.

DuPont, Verizon and Travelers Cos., three of the 30 stocks that make up the Dow, closed higher after reporting their financial results for the final quarter of 2012.

The Dow closed up 62.51 points, or 0.5 percent, at 13,712.21. The Standard & Poor's 500 index gained 6.53, or 0.4 percent, to 1,492.51. The Nasdaq composite average rose 8.47, or 0.3 percent, to 3,143.18.

The indexes spent the morning edging between small gains and losses. Around noon, the Dow rose decisively and stayed higher for the rest of the day.

Earnings have been strong enough this season to drive a five-day winning streak for the S&P 500 and put the Dow on track for its biggest monthly percentage gain since October 2011. Jack Ablin, chief investment officer at BMO Private Bank in Chicago, said traders have been encouraged by the number of companies beating analysts' profit expectations.

"Granted, we have diminished expectations, but companies are doing a decent job beating on the profit side," he said. The revenue side of the equation has been weaker, Ablin said, preventing a stronger updraft for stocks. Traders might gain more confidence if companies reported stronger demand from emerging markets and Europe, he said.

"The U.S. has been pulling this wagon by itself for the last couple years, and now we're facing some austerity measures. We could certainly use a hand," he said.

The NYSE DOW closed HIGHER ▲ 62.51 points or ▲ 0.46% Tuesday, 22 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,712.21 ▲ 62.51 ▲ 0.46%
Nasdaq____ 3,143.18 ▲ 8.47 ▲ 0.27%
S&P_500____ 1,492.56 ▲ 6.58 ▲ 0.44%
30_Yr_Bond____ 3.022 ▼ -0.01 ▼ -0.30%

NYSE Volume 3,785,283,750
Nasdaq Volume 1,790,302,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,179.17 ▼ -1.81 ▼ -0.03%
DAX_____ 7,696.21 ▼ -52.65 ▼ -0.68%
CAC_40__ 3,741.01 ▼ -22.02 ▼ -0.59%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,802.90 ▲ 0.70 ▲ 0.01%
Shanghai_Comp 2,315.14 ▼ -13.08 ▼ -0.56%
Taiwan_Weight 7,759.10 ▲ 34.18 ▲ 0.44%
Nikkei_225____ 10,709.93 ▼ -37.81 ▼ -0.35%
Hang_Seng____ 23,658.99 ▲ 53.93 ▲ 0.29%
Strait_Times___ 3,219.86 ▼ -1.46 ▼ -0.05%
NZX_50_Index__ 4,187.08 ▲ 1.90 ▲ 0.05%

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

US stocks rise as tech, industrial earns roll in

US stock indexes rise as technology, industrial companies report fourth quarter earnings

By Daniel Wagner, AP Business Writer

Strong earnings reports from big U.S. companies helped push the Dow Jones industrial average to its eighth gain in nine sessions Tuesday.

DuPont, Verizon and Travelers Cos., three of the 30 stocks that make up the Dow, closed higher after reporting their financial results for the final quarter of 2012.

The Dow closed up 62.51 points, or 0.5 percent, at 13,712.21. The Standard & Poor's 500 index gained 6.53, or 0.4 percent, to 1,492.51. The Nasdaq composite average rose 8.47, or 0.3 percent, to 3,143.18.

The indexes spent the morning edging between small gains and losses. Around noon, the Dow rose decisively and stayed higher for the rest of the day.

Earnings have been strong enough this season to drive a five-day winning streak for the S&P 500 and put the Dow on track for its biggest monthly percentage gain since October 2011. Jack Ablin, chief investment officer at BMO Private Bank in Chicago, said traders have been encouraged by the number of companies beating analysts' profit expectations.

"Granted, we have diminished expectations, but companies are doing a decent job beating on the profit side," he said. The revenue side of the equation has been weaker, Ablin said, preventing a stronger updraft for stocks. Traders might gain more confidence if companies reported stronger demand from emerging markets and Europe, he said.

"The U.S. has been pulling this wagon by itself for the last couple years, and now we're facing some austerity measures. We could certainly use a hand," he said.

Among the Dow components that reported early Tuesday, chemical and bioscience company DuPont reported a sharp drop in net income on weakness in its electronics, communications and other businesses, but the results still beat analysts' forecasts. DuPont's stock closed up 83 cents, or 1.8 percent, at $47.82.

Johnson & Johnson said higher sales helped boost its profit from a year ago, when results were weighed down by a slew of one-time charges. However, the company's 2013 profit forecast fell short of analysts' estimates. J&J dropped 54 cents, or 0.7 percent, to $72.69.

Verizon Communications Inc. rose after the country's biggest wireless carrier said it activated a record number of new devices on contract-based plans in the fourth quarter. Verizon's net loss widened on restructuring and pension costs and expenses related to the cleanup from Superstorm Sandy. Its stock rose 40 cents, or 0.9 percent, to $42.94.

A fourth member of the Dow 30, property and casualty insurer Travelers Cos., rose strongly after it said core income categories like investments and premiums written rose. Net income fell because of claims filed in the wake of Superstorm Sandy. The stock shot up $1.64, or 2.2 percent, to $77.95, an all-time closing high. Travelers has risen nearly 27 percent over the past 12 months.

The market was closed on Monday for the Martin Luther King Jr. holiday.

Yet another company hit by Superstorm Sandy was Delta Air Lines, which said its fourth-quarter profit was nearly wiped out after it was forced to cancel more than 20,000 flights. The storm hit Delta harder than other airlines because it slowed operations at Delta's new oil refinery near Philadelphia. The results were still better than analysts were expecting. Delta rose 40 cents, or 2.9 percent, to $14.01.

Tech behemoths Google and IBM reported solid earnings gains after the market closed. Tech companies' results are being watched closely because many of them have warned about a weak fourth quarter.

Google soared after saying its fourth-quarter earnings rose 7 percent as online advertisers spent more money in pursuit of holiday shoppers. The stock gained $29.13, or 4.1 percent, to $732 in after-hours trading.

IBM said its net income rose 6 percent. The stock rose $6.82, or 3.5 percent, to $202.90 in late trading.

Apple reports after the bell Wednesday.

Freight rail companies are another key category at this stage in the economic recovery. They are seen as a proxy for the broader economy because their results track the demand for transportation of materials used in manufacturing and goods sold to consumers and businesses.

Two big railroads reported after the closing bell. CSX gained 74 cents, or 3.6 percent, to $21.55 in after-hours trading after beating analysts' expectations. Norfolk Southern rose $1.05, or 1.6 percent, to $67.99 after the bell.

Some homebuilder stocks fell after the National Association of Homebuilders said sales of previously occupied homes dipped to an annual pace of 4.94 million in December from 4.99 million in November. November's figure was revised lower, but was still the highest in three years.

Lennar Corp. fell a penny to $42.07. Hovnanian Enterprises Inc. lost 6 cents to $6.24.

The yield on the benchmark 10-year Treasury note was unchanged at 1.84 percent.

Benchmark oil rose 62 cents to $96.66 on the New York Mercantile Exchange, as global economic reports remained generally positive.

 

[bigdog]

Source: http://finance.yahoo.com

Strong earnings from tech giants nudged the stock market to a five-year high Wednesday. Investors drew encouragement from a vote by the House of Representatives to let the government keep paying all of its bills for another four months.

The Dow Jones industrial average rose 67.12 points to close at 13,779.33. That's the highest level since Oct. 31, 2007, a month before the Great Recession started.

Google and IBM reported surprisingly solid fourth-quarter earnings late Tuesday, a hopeful sign for investors who expected tech companies to struggle at the end of last year.

IBM's results beat expectations, thanks to its lucrative Internet-based "cloud computing" business and sales of software services to Brazil, Russia and other developing countries. The company also raised its earnings outlook for the current year. IBM led the Dow's 30 stocks, rising $8.64 to $204.72.

Without IBM's 4 percent gain, the Dow would have been nearly flat.

Other indexes made slight gains. The Standard & Poor's 500 index inched up 2.25 points to 1,494.81, while the tech-heavy Nasdaq composite rose 10.49 points to 3,153.67.

The stock market has climbed so quickly this month that it will likely take more than good earnings to keep it heading higher. "This market is really stretched," said Clark Yingst, chief market analyst at the securities firm Joseph Gunnar. "We've essentially gone straight up since January 2. There's certainly room for people to take profits."

The S&P 500 index is already up 4.8 percent in 2013. That's more than half of what most stock-fund investors hope to make in a single year.

The House passed a bill Wednesday afternoon to suspend the government's borrowing limit until May 19. Senate Majority Leader Harry Reid, D-Nev., said his chamber would immediately move the legislation to the White House.

House Republicans had previously said they would use the debt ceiling as a bargaining chip to push for deeper government spending cuts.

The NYSE DOW closed HIGHER ▲ 67.12 points or ▲ 0.49% Wednesday, 23 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,779.33 ▲ 67.12 ▲ 0.49%
Nasdaq____ 3,153.67 ▲ 10.49 ▲ 0.33%
S&P_500____ 1,494.81 ▲ 2.25 ▲ 0.15%
30_Yr_Bond____ 3.027 ▲ 0.01 ▲ 0.17%

NYSE Volume 3,764,859,000
Nasdaq Volume 1,727,917,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,197.64 ▲ 18.47 ▲ 0.30%
DAX_____ 7,707.54 ▲ 11.33 ▲ 0.15%
CAC_40__ 3,726.17 ▼ -14.84 ▼ -0.40%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,812.10 ▲ 9.20 ▲ 0.19%
Shanghai_Comp 2,320.91 ▲ 5.77 ▲ 0.25%
Taiwan_Weight 7,744.18 ▼ -14.92 ▼ -0.19%
Nikkei_225____ 10,486.99 ▼ -222.94 ▼ -2.08%
Hang_Seng____ 23,635.10 ▲ 53.93 ▼ -0.10%
Strait_Times___ 3,231.23 ▲ 11.37 ▲ 0.35%
NZX_50_Index__ 4,187.72 ▲ 0.64 ▲ 0.02%

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

IBM's results lift Dow average to a 5-year high

Solid earnings from IBM push the Dow Jones industrial average to a new 5-year high

By Matthew Craft, AP Business Writer

Strong earnings from tech giants nudged the stock market to a five-year high Wednesday. Investors drew encouragement from a vote by the House of Representatives to let the government keep paying all of its bills for another four months.

The Dow Jones industrial average rose 67.12 points to close at 13,779.33. That's the highest level since Oct. 31, 2007, a month before the Great Recession started.

Google and IBM reported surprisingly solid fourth-quarter earnings late Tuesday, a hopeful sign for investors who expected tech companies to struggle at the end of last year.

IBM's results beat expectations, thanks to its lucrative Internet-based "cloud computing" business and sales of software services to Brazil, Russia and other developing countries. The company also raised its earnings outlook for the current year. IBM led the Dow's 30 stocks, rising $8.64 to $204.72.

Without IBM's 4 percent gain, the Dow would have been nearly flat.

Other indexes made slight gains. The Standard & Poor's 500 index inched up 2.25 points to 1,494.81, while the tech-heavy Nasdaq composite rose 10.49 points to 3,153.67.

The stock market has climbed so quickly this month that it will likely take more than good earnings to keep it heading higher. "This market is really stretched," said Clark Yingst, chief market analyst at the securities firm Joseph Gunnar. "We've essentially gone straight up since January 2. There's certainly room for people to take profits."

The S&P 500 index is already up 4.8 percent in 2013. That's more than half of what most stock-fund investors hope to make in a single year.

The House passed a bill Wednesday afternoon to suspend the government's borrowing limit until May 19. Senate Majority Leader Harry Reid, D-Nev., said his chamber would immediately move the legislation to the White House.

House Republicans had previously said they would use the debt ceiling as a bargaining chip to push for deeper government spending cuts.

Google gained 6 percent after its earnings climbed at the end of last year as online advertisers spent more money in pursuit of holiday shoppers. Google rose $38.63 to $741.50.

Another tech giant, Apple, fell in after-hours trading after reporting sales that fell short of forecasts.

Slumping coal shipments have been a drag on railroad operators, but CSX and Norfolk Southern posted better revenue and profits than expected. The railroads managed to offset some of the hit from falling coal demand by getting more money from carrying car parts, building materials and other products.

Norfolk Southern rose $1.47 to $68.41 while CSX gained 87 cents to $21.68.

The quarterly earnings season is off to strong start. Of the 83 companies in the S&P 500 that reported through Tuesday, 54 have beaten Wall Street's estimates, according to S&P Capital IQ.

In the bond market, the yield on the benchmark 10-year Treasury note dipped to 1.83 percent from 1.84 percent late Tuesday.

Among other companies posting quarterly earnings:

”” Advanced Micro Devices jumped 11 percent, making it the top stock in the S&P 500. The world's second-largest maker of microchips, behind Intel, posted a smaller loss and higher revenue than analysts had forecast. AMD rose 28 cents to $2.73.

”” Coach plunged 16 percent, or $9.93, to $50.75. The luxury handbag maker said a challenging economy and heavy price-cutting by competitors weighed on its results. Rivals like Michael Kors have attracted more followers.

”” McDonald's Corp. eked out a higher quarterly profit with the help of its Dollar Menu and the McRib sandwich. The world's biggest hamburger chain plans to roll out new menu items this year to support sales, including the Fish McBites. McDonald's inched up 53 cents to $93.48.

 

[bigdog]

Source: http://finance.yahoo.com

A sharp drop in Apple's stock pulled the Nasdaq down with it after the tech giant warned of weaker sales. Other stock-market indexes eked out slight gains.

Apple sank $63.50 to $430.50. With iPhone sales hitting a plateau and no new products to introduce, Apple said sales would likely increase just 7 percent in the current quarter. That's a let-down for a company that has regularly posted growth rates above 50 percent.

The Standard & Poor's 500 index edged up 0.01 of a point to 1,494.82. Earlier in the day, the S&P 500 crossed above 1,500 for the first time since December 2007.

The broad gauge of the stock market has already gained 4.8 percent this year and climbed seven days in a row.

One reason for the market's recent rise is that some of the biggest obstacles have been pushed aside, said Brian Gendreau, a market strategist at Cetera Financial Group. On Wednesday, the House of Representatives agreed to suspend the federal government's borrowing limit until May 19, allowing the U.S. to keep paying its bills for another four months.

"Politics is off the table for now and Europe seems like it's stable. So what's left? It's earnings. And aside from Apple it seems like pretty good news," Gendreau said.

The Dow Jones industrial average gained 46 points to close at 13,825.33. The Nasdaq fell 23.29 points to 3,130.38. The 12 percent drop in Apple, which makes up 10 percent of the index, was enough to pull the Nasdaq lower.

The NYSE DOW closed HIGHER ▲ 46.00 points or ▲ 0.33% Thursday, 24 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,825.33 ▲ 46.00 ▲ 0.33%
Nasdaq____ 3,130.38 ▼ -23.29 ▼ -0.74%
S&P_500____ 1,494.82 ▲ 0.01 ▲ 0.00%
30_Yr_Bond____ 3.039 ▲ 0.01 ▲ 0.40%

NYSE Volume 3,999,070,750
Nasdaq Volume 2,049,702,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,264.91 ▲ 67.27 ▲ 1.09%
DAX_____ 7,748.13 ▲ 40.59 ▲ 0.53%
CAC_40__ 3,752.17 ▲ 26.00 ▲ 0.70%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,833.80 ▲ 21.70 ▲ 0.45%
Shanghai_Comp 2,302.60 ▼ -18.31 ▼ -0.79%
Taiwan_Weight 7,695.99 ▼ -48.19 ▼ -0.62%
Nikkei_225____ 10,620.87 ▲ 133.88 ▲ 1.28%
Hang_Seng____ 23,598.90 ▲ 53.93 ▼ -0.15%
Strait_Times___ 3,248.39 ▲ 17.16 ▲ 0.53%
NZX_50_Index__ 4,189.91 ▲ 2.19 ▲ 0.05%

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

Apple's sales slowdown tugs Nasdaq index lower
Apple pulls Nasdaq lower after predicting slower sales; S&P 500 briefly breaks 1,500
By Matthew Craft, AP Business Writer

A sharp drop in Apple's stock pulled the Nasdaq down with it after the tech giant warned of weaker sales. Other stock-market indexes eked out slight gains.

Apple sank $63.50 to $430.50. With iPhone sales hitting a plateau and no new products to introduce, Apple said sales would likely increase just 7 percent in the current quarter. That's a let-down for a company that has regularly posted growth rates above 50 percent.

The Standard & Poor's 500 index edged up 0.01 of a point to 1,494.82. Earlier in the day, the S&P 500 crossed above 1,500 for the first time since December 2007.

The broad gauge of the stock market has already gained 4.8 percent this year and climbed seven days in a row.

One reason for the market's recent rise is that some of the biggest obstacles have been pushed aside, said Brian Gendreau, a market strategist at Cetera Financial Group. On Wednesday, the House of Representatives agreed to suspend the federal government's borrowing limit until May 19, allowing the U.S. to keep paying its bills for another four months.

"Politics is off the table for now and Europe seems like it's stable. So what's left? It's earnings. And aside from Apple it seems like pretty good news," Gendreau said.

The Dow Jones industrial average gained 46 points to close at 13,825.33. The Nasdaq fell 23.29 points to 3,130.38. The 12 percent drop in Apple, which makes up 10 percent of the index, was enough to pull the Nasdaq lower.

Even after its recent slump, Apple still ranks as the world's most valuable company at $423 billion, putting it $7 billion ahead of the runner up, Exxon Mobil.

Heading into this earnings season, many investors wondered whether shrinking sales would start to squeeze Corporate America's profits. Judging by the results so far, few are struggling.

Of the 134 big companies in the S&P 500 that reported through Thursday morning, 85 have beaten Wall Street's estimates, according to S&P Capital IQ.

Microsoft fell in after-hours trading after reporting that its earnings slipped 4 percent in the last quarter of 2012. Starbucks, which also reported results after the closing bell, was little changed as its revenue came in slightly below forecasts.

Netflix jumped $43.60 to $146.86, a 42 percent bounce. Analysts had expected rising costs to lead the movie and TV show distributor to post a loss in the last three months of 2012. But Netflix said late Wednesday that it turned a profit with the help of 2 million new subscribers.

The Labor Department reported that the number of Americans applying for unemployment aid fell last week to the lowest since January 2008. Applications dropped 5,000 to 330,000. The four-week average also hit a five-year low.

The employment report nudged prices for U.S. government bonds down, sending their yields higher. The yield on the benchmark 10-year Treasury note inched up to 1.85 percent from 1.83 percent late Wednesday.

Airline stocks were mostly higher. Despite rising fuel costs, Southwest reported better earnings than analysts had expected, thanks partially to the airline charging $8 more for the average fare. The parent company of United Airlines and Continental took a heavy quarterly loss but announced plans to cut around 600 jobs.

Southwest Airlines rose 9 cents to $11.45. United Continental Holdings gained 54 cents to $25.54.

Among other companies reporting earnings:

”” Xerox rose 17 cents to $7.75. Xerox's net income shrunk over the same period the previous year but it still beat analysts' estimates by a penny, helped by better revenue from its business services.

”” Union Pacific dropped $1.51 to $133.84. The country's largest railroad company posted weaker revenue than analysts had predicted, a result of falling coal and crop shipments.

 

[bigdog]

Source: http://finance.yahoo.com

Passing another milestone on the nation's long journey back from the Great Recession, the Standard and Poor's 500 index closed above 1,500 for the first time in more than five years Friday after a wave of good earnings reports.

It took scores of incremental gains, several stalled rallies and a few sickening falls, but the widely watched S&P, one of the broadest measures of the American stock market, finished at 1,502.96, up 8.14 points. The index had not closed above 1,500 since December 2007, the start of the worst economic downturn since the 1930s.

The news came on top of other hopeful signs that the economy is slowly recovering. Housing is rebounding. Companies are hiring again, albeit slowly, and their earnings, a big driver of stock prices, are at record levels.

"The bottom line is that corporate America is doing exceptionally well," said Joe Tanious, a global market strategist at JPMorgan.

The breakthrough happened on an eighth straight daily gain for stocks, itself a remarkable performance. That is the longest winning streak since November 2004.

Stocks have surged this month, with the S&P advancing 5.4 percent. It jumped at the start of the year when lawmakers reached a last-minute deal to avoid the "fiscal cliff." Signs that Europe has avoided financial collapse also helped.

Stocks fell sharply during the Great Recession. By March 2009, the S&P was 57 percent below its October 2007 peak, a harrowing plunge that scarred a generation of small investors and, some Wall Street experts believe, will keep them away from stocks for years to come.

Since that fall, the market has climbed sharply, though it has endured several big declines. In May 2010, a trading glitch set off a so-called flash crash that sent stocks plummeting. And in August 2011, stocks gyrated like a roller coaster for several days as fears mounted that the U.S. would default on its debts.

On Friday, stocks were helped by earnings from two big companies. Procter & Gamble, the world's largest consumer products maker, rose $2.83 to $73.25 after reporting that its quarterly income more than doubled. P&G also raised its profit forecast for its full fiscal year. Starbucks climbed $2.24 to $56.81 after reporting a 13 percent increase in profits.

The Dow Jones industrial average closed at 13,895.98, up 70.65 points. The Dow is up 6 percent on the year.

The Nasdaq composite gained 19.33 points to 3,149.71.

The Dow is now just 268 points below its record high of 14,165, reached on Oct. 9, 2007, two month before the recession began. The Dow has more than doubled since its recession low of 6,547 on March 9, 2009.

The S&P 500 is 62 points shy of its record of 1,565, reached on the same day the Dow hit its peak. The S&P has also more than doubled from its low of 676, which happened on the same day the Dow bottomed out in 2009.

The NYSE DOW closed HIGHER ▲ 70.65 points or ▲ 0.51% Friday, 25 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,895.98 ▲ 70.65 ▲ 0.51%
Nasdaq____ 3,149.71 ▲ 19.33 ▲ 0.62%
S&P_500____ 1,502.96 ▲ 8.14 ▲ 0.54%
30_Yr_Bond____ 3.130 ▲ 0.09 ▲ 3.09%

NYSE Volume 3,736,191,500
Nasdaq Volume 1,936,001,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,284.45 ▲ 19.54 ▲ 0.31%
DAX_____ 7,857.97 ▲ 109.84 ▲ 1.42%
CAC_40__ 3,778.16 ▲ 25.99 ▲ 0.69%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,858.90 ▲ 25.10 ▲ 0.52%
Shanghai_Comp 2,291.30 ▼ -11.29 ▼ -0.49%
Taiwan_Weight 7,672.58 ▼ -23.41 ▼ -0.30%
Nikkei_225____ 10,926.65 ▲ 305.78 ▲ 2.88%
Hang_Seng____ 23,580.43 ▲ 53.93 ▼ -0.08%
Strait_Times___ 3,269.31 ▲ 20.92 ▲ 0.64%
NZX_50_Index__ 4,199.82 ▲ 9.91 ▲ 0.24%

http://finance.yahoo.com/news/p-closes-above-1-500-000829276.html

S&P closes above 1,500 for 1st time since 2007

S&P 500 index closes above 1,500 for first time since start of Great Recession

By Steve Rothwell, AP Business Writer

Passing another milestone on the nation's long journey back from the Great Recession, the Standard and Poor's 500 index closed above 1,500 for the first time in more than five years Friday after a wave of good earnings reports.

It took scores of incremental gains, several stalled rallies and a few sickening falls, but the widely watched S&P, one of the broadest measures of the American stock market, finished at 1,502.96, up 8.14 points. The index had not closed above 1,500 since December 2007, the start of the worst economic downturn since the 1930s.

The news came on top of other hopeful signs that the economy is slowly recovering. Housing is rebounding. Companies are hiring again, albeit slowly, and their earnings, a big driver of stock prices, are at record levels.

"The bottom line is that corporate America is doing exceptionally well," said Joe Tanious, a global market strategist at JPMorgan.

The breakthrough happened on an eighth straight daily gain for stocks, itself a remarkable performance. That is the longest winning streak since November 2004.

Stocks have surged this month, with the S&P advancing 5.4 percent. It jumped at the start of the year when lawmakers reached a last-minute deal to avoid the "fiscal cliff." Signs that Europe has avoided financial collapse also helped.

Stocks fell sharply during the Great Recession. By March 2009, the S&P was 57 percent below its October 2007 peak, a harrowing plunge that scarred a generation of small investors and, some Wall Street experts believe, will keep them away from stocks for years to come.

Since that fall, the market has climbed sharply, though it has endured several big declines. In May 2010, a trading glitch set off a so-called flash crash that sent stocks plummeting. And in August 2011, stocks gyrated like a roller coaster for several days as fears mounted that the U.S. would default on its debts.

On Friday, stocks were helped by earnings from two big companies. Procter & Gamble, the world's largest consumer products maker, rose $2.83 to $73.25 after reporting that its quarterly income more than doubled. P&G also raised its profit forecast for its full fiscal year. Starbucks climbed $2.24 to $56.81 after reporting a 13 percent increase in profits.

The Dow Jones industrial average closed at 13,895.98, up 70.65 points. The Dow is up 6 percent on the year.

The Nasdaq composite gained 19.33 points to 3,149.71.

The Dow is now just 268 points below its record high of 14,165, reached on Oct. 9, 2007, two month before the recession began. The Dow has more than doubled since its recession low of 6,547 on March 9, 2009.

The S&P 500 is 62 points shy of its record of 1,565, reached on the same day the Dow hit its peak. The S&P has also more than doubled from its low of 676, which happened on the same day the Dow bottomed out in 2009.

JPMorgan's Tanious expects stocks to go even higher. He says corporate earnings should grow at about 5 percent over the next year or two, and stock valuations will rise. Currently, the S&P 500 is trading at an average price-to-earnings ratio of 14, below an average of 15.1 for the last decade, according to FactSet data.

On Friday, Apple continued to decline, allowing Exxon Mobil to once again surpass the electronics giant as the world's most valuable publicly traded company. Apple fell 2.4 percent to $439.88, following a 12 percent drop on Thursday, the biggest one-day percentage decline for the company since 2008, after Apple forecast slower sales. The stock is now 37 percent below the record high of $702.10 it reached Sept. 19.

Apple first surpassed Exxon in market value in the summer of 2011, grabbing a title Exxon had held since 2005. The two traded places through that fall, until Apple surpassed Exxon in early 2012.

Not everyone on Wall Street thought the S&P milestone was worth celebrating. Some noted the stock market is more a reflection of how traders feel than a reflection of underlying fundamentals.

"It's not a landmark that we really follow or that we really care about," said Derrick Irwin, portfolio manager for Wells Fargo Advantage Funds. "Focusing on the benchmarks can end up shooting you in the foot, as we've seen."

Some of the rise may also be due to investing stock market momentum. A rule of thumb is that when a stock price or an overall index gets tantalizingly close to a milestone, as the S&P has been for days now, it's almost certain to cross that milestone, at least temporarily.

"Sure, it's a good thing," said Christian Bertelsen, chief investment officer of Global Financial Private Capital in Sarasota, Fla. "But I wouldn't read too much into it."

Still, Deutsche Bank analysts raised their year-end target for the index to 1,600 from 1,575.

Companies will be able to maintain their earnings even if lawmakers in Washington decide to implement wide-ranging spending cuts to narrow the budget deficit, the analysts said in a note sent to clients late Thursday.

The yield on the 10-year Treasury note, which moves inversely to its price, climbed 11 basis points to 1.95 percent.

Among other stocks making big moves.

”” Halliburton gained $1.91 to $39.72 after posting a loss that was smaller than analysts had expected. The oilfield-services company said fourth-quarter profits declined 26 percent to $669 million on increasing pricing pressure in the North American market and one-time charges from the Deepwater Horizon disaster. Wall Street had expected worse.

”” Hasbro fell $1.14 to $37.31 after the toy maker said its fourth-quarter revenue failed to meet expectations because of poor demand over the holidays. The company plans to cut about 10 percent of its workforce and consolidate facilities to cut expenses.

”” Green Mountain Coffee Roasters rose $2.53 to $46.31 after an analyst noted that sales of a competing coffee brewer introduced by Starbucks were getting off to a weak start.

3353

 

[bigdog]

Source: http://finance.yahoo.com

U.S. stocks meandered between small gains and losses Monday, cooling off after a rally that had pushed the Standard & Poor's 500 index above 1,500 for the first time since December 2007. Encouraging news about manufacturing provided an early boost, but stocks fell later after a report on the pace of home sales fell short of expectations.

The government said before trading began that orders for long-lasting goods rose in December by 4.6 percent, helped by a 10 percent gain in orders for new aircraft. The report was a sign of strength for the manufacturing sector, a crucial driver of economic growth.

Heavy equipment maker Caterpillar said separately that its fourth-quarter net income exceeded analysts' expectations, after adjusting for the cost of a soured deal to buy a Chinese maker of roofing supports for mines. Caterpillar said it took a big charge in the quarter because the Chinese company had misrepresented its finances.

Caterpillar Inc. said it expects growth in China to improve without regaining the levels seen in 2010 or 2011. The stock was the biggest gainer in the Dow Jones industrial average, closing up $1.87, or 2 percent, at $97.45.

The Dow Jones transportation index, a proxy for future economic activity, edged higher, notching its tenth straight increase and its twelfth gain in the past 13 trading days.

A half-hour after trading began, the National Association of Realtors said that its index of pending home sales fell in December, suggesting that sales of previously occupied homes may slow in the coming months. The report, which was weaker than many economists had expected, helped push stocks lower for much of the morning. They were roughly flat by midday, and spent the afternoon swapping small bumps and dips.

The Dow closed down 14.05 points, or 0.1 percent, at 13,881.93. The S&P 500 fell 2.78, or 0.2 percent, to 1,500.18. The Nasdaq composite index added 4.59, or 0.2 percent, to 3,154.

The Dow and the S&P 500 are rapidly approaching their all-time closing highs, reached on Oct. 9, 2007. The Dow is about 282 points below its high of 14,164.53; the S&P 500 is 65 points shy of its record of 1,565.

Economic data may be less likely to boost the indexes because traders have become harder to impress as the data have strengthened in recent weeks, said Bill Stone, chief investment strategist with PNC Asset Management Group.

The NYSE DOW closed LOWER ▼ -14.05 points or ▼ -0.10% Monday, 28 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,881.93 ▼ -14.05 ▼ -0.10%
Nasdaq____ 3,154.30 ▲ 4.59 ▲ 0.15%
S&P_500____ 1,500.18 ▼ -2.78 ▼ -0.18%
30_Yr_Bond____ 3.150 ▲ 0.02 ▲ 0.54%

NYSE Volume 3,562,564,750
Nasdaq Volume 1,868,414,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,294.41 ▲ 9.96 ▲ 0.16%
DAX_____ 7,833.00 ▼ -24.97 ▼ -0.32%
CAC_40__ 3,780.89 ▲ 2.73 ▲ 0.07%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,858.90 ▲ 25.10 ▲ 0.52% closed for holiday Monday Jan 28
Shanghai_Comp 2,346.51 ▲ 55.20 ▲ 2.41%
Taiwan_Weight 7,714.67 ▲ 42.09 ▲ 0.55%
Nikkei_225____ 10,824.31 ▼ -102.34 ▼ -0.94%
Hang_Seng____ 23,671.88 ▲ 53.93 ▲ 0.39%
Strait_Times___ 3,273.91 ▲ 4.60 ▲ 0.14%
NZX_50_Index__ 4,204.44 ▲ 4.62 ▲ 0.11%

http://finance.yahoo.com/news/us-stocks-close-mixed-uneven-215248547.html

US stocks close mixed on uneven economic signals

US stocks close mixed after strong manufacturing signals, disappointing home sales

By Daniel Wagner, AP Business Writer

U.S. stocks meandered between small gains and losses Monday, cooling off after a rally that had pushed the Standard & Poor's 500 index above 1,500 for the first time since December 2007. Encouraging news about manufacturing provided an early boost, but stocks fell later after a report on the pace of home sales fell short of expectations.

The government said before trading began that orders for long-lasting goods rose in December by 4.6 percent, helped by a 10 percent gain in orders for new aircraft. The report was a sign of strength for the manufacturing sector, a crucial driver of economic growth.

Heavy equipment maker Caterpillar said separately that its fourth-quarter net income exceeded analysts' expectations, after adjusting for the cost of a soured deal to buy a Chinese maker of roofing supports for mines. Caterpillar said it took a big charge in the quarter because the Chinese company had misrepresented its finances.

Caterpillar Inc. said it expects growth in China to improve without regaining the levels seen in 2010 or 2011. The stock was the biggest gainer in the Dow Jones industrial average, closing up $1.87, or 2 percent, at $97.45.

The Dow Jones transportation index, a proxy for future economic activity, edged higher, notching its tenth straight increase and its twelfth gain in the past 13 trading days.

A half-hour after trading began, the National Association of Realtors said that its index of pending home sales fell in December, suggesting that sales of previously occupied homes may slow in the coming months. The report, which was weaker than many economists had expected, helped push stocks lower for much of the morning. They were roughly flat by midday, and spent the afternoon swapping small bumps and dips.

The Dow closed down 14.05 points, or 0.1 percent, at 13,881.93. The S&P 500 fell 2.78, or 0.2 percent, to 1,500.18. The Nasdaq composite index added 4.59, or 0.2 percent, to 3,154.

The Dow and the S&P 500 are rapidly approaching their all-time closing highs, reached on Oct. 9, 2007. The Dow is about 282 points below its high of 14,164.53; the S&P 500 is 65 points shy of its record of 1,565.

Economic data may be less likely to boost the indexes because traders have become harder to impress as the data have strengthened in recent weeks, said Bill Stone, chief investment strategist with PNC Asset Management Group.

"Before, even if you came in just at expectations, that was like a victory," he said. Because of the market's recent upturn, he said, "you get less of a pop for just making the numbers."

Among companies in the S&P 500 that reported earnings Monday, Biogen Idec Inc. said its fourth-quarter net income slipped nearly 3 percent because of a tax charge and higher expenses. Still, the biotech drug maker rose $3.79, or 2.6 percent, to $149.99.

Roper Industries Inc., which makes medical and industrial equipment, said its fourth-quarter net income rose 18 percent. But the company issued mixed guidance for the current quarter and full year 2013. It fell 33 cents to $118.50.

Oil company Hess Inc. was the biggest gainer in the S&P 500, adding 6.1 percent after the company said it plans to sell its U.S. terminal network, shutter its New Jersey refinery and continue shifting its focus to exploration and production. Hess also said that the hedge fund Elliott Associates plans to seek regulatory approval to buy a major stake in the company. Hess rose $3.58 to $62.48.

Several big tech companies reported their results after the market closed and saw big price swings in after-hours trading:

”” Web portal Yahoo Inc. rose 81 cents, or 4 percent, to $21.12 after saying its fourth-quarter earnings topped analyst estimates as an upturn in its international investments helped end a three-year revenue slump.

”” Hard disk maker Seagate Technology PLC said it beat analysts' estimates in its results for the fiscal second quarter ended Dec. 28. It rose 69 cents, or 1.8 percent, to $38.10 after hours.

”” Cloud computing provider VMWare Inc. said its net income edged higher, but the company announced guidance that was far weaker than analysts had expected. VMWare lost $10.83, or 11 percent, to $87.49 after hours.

Strong corporate earnings helped push the S&P 500 through the 1,500 milestone Friday after several calm, relatively news-free weeks. In addition to companies' performance, traders have been encouraged by signals that housing market is improving steadily and hiring is picking up, albeit slowly.

There will plenty of fresh data to drive trading this week, including retail sales, economic growth and the government's report on hiring and employment in January, which is due out Friday. More than one-fifth of the companies in the S&P 500 will report fourth-quarter earnings this week.

Stone said stocks are trading sideways in part because many investors are awaiting economic reports later this week, especially the employment report. There is agreement among economists and analysts that the economy slowed in the fourth quarter, he said, and this week's numbers will help answer the question of "how slow, and how much did it impact employment."

The yield in the benchmark 10-year Treasury note rose to 1.97 percent from 1.95 percent late Friday, reflecting lower demand for ultra-safe investments. After Monday's factory orders report, the yield rose briefly above 2 percent for the first time since April. A bond's yield rises as demand for it decreases.

 

[bigdog]

Source: http://finance.yahoo.com

Pfizer helped keep the stock market rally alive Tuesday. The drugmaker's stock gained after posting strong earnings, pushing the Dow closer to 14,000.

The Dow Jones industrial average rose 73 points to close at 13,954.42 points, ending higher for the seventh day in eight. The Standard and Poor's 500 also rose, adding eight points to 1,507.84 points. The Nasdaq composite dropped less than a point to 3,153.66.

The January rally looked as if it was running out of steam yesterday as stocks pulled back from their highs, but Tuesday they resumed their ascent toward record levels. Demand was bolstered at the start of the year after lawmakers reached a deal to avoid the "fiscal cliff" and was sustained by reports that have added to evidence showing the U.S. housing market is recovering and the jobs market is slowly healing.

The Dow is 6.5 percent higher this month and the S&P 500 is up 5.7 percent. Both indexes are at their highest levels in more than five years.

Pfizer was the biggest gainer in the Dow, advancing 86 cents, or 3.2 percent, to $27.70 after the company said its fourth-quarter profit more than quadrupled because of a $4.8 billion gain from selling its nutrition business and despite competition from generic drugs hurting sales. Homebuilder D.R. Horton gained $2.51, or 11.8 percent, to $23.82 after it said that net income more than doubled as the housing recovery took hold. Improving home prices and better sales bolstered profits.

"The earnings season is not stellar, it's not gangbusters, but it's better than last quarter," said Quincy Krosby, a market strategist at Prudential.

Currently, analysts expect fourth-quarter earnings for 2012 to increase by an average of 4.7 percent for S&P 500 companies, according to the latest data from S&P Capital IQ. That's an improvement on the previous quarter when profit grew by 2.4 percent.

Valero Energy, a refinery operator, was the biggest gainer in the S&P 500. The company's stock climbed $4.96, or 13 percent, to $43.77 after the company said that fourth-quarter profit soared on higher refining margins, as it swapped out foreign crude for cheaper domestic oil.

Investor optimism was checked by a report that showed U.S. consumer confidence sank in January to the lowest level in more than a year as Americans fretted about the economic outlook and higher Social Security taxes. The Conference Board said that its consumer confidence index dropped to 58.6 in January, down from a reading of 66.7 in December.

Stocks also failed to get much of a lift from a report published before the market opened that showed the U.S. housing market is sustaining its recovery.

The NYSE DOW closed HIGHER ▲ 72.49 points or ▲ 0.52% Tuesday, 29 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,954.42 ▲ 72.49 ▲ 0.52%
Nasdaq____ 3,153.66 ▼ -0.64 ▼ -0.02%
S&P_500____ 1,507.84 ▲ 7.66 ▲ 0.51%
30_Yr_Bond____ 3.170 ▲ 0.02 ▲ 0.57%

NYSE Volume 4,198,840,500
Nasdaq Volume 1,950,812,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,339.19 ▲ 44.78 ▲ 0.71%
DAX_____ 7,848.57 ▲ 15.57 ▲ 0.20%
CAC_40__ 3,785.82 ▲ 4.93 ▲ 0.13%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,910.80 ▲ 51.90 ▲ 1.07%
Shanghai_Comp 2,358.98 ▲ 12.47 ▲ 0.53%
Taiwan_Weight 7,802.00 ▲ 87.33 ▲ 1.13%
Nikkei_225____ 10,866.72 ▲ 42.41 ▲ 0.39%
Hang_Seng____ 23,655.17 ▲ 53.93 ▼ -0.07%
Strait_Times___ 3,259.75 ▼ -14.16 ▼ -0.43%
NZX_50_Index__ 4,200.29 ▼ -4.15 ▼ -0.10%

http://finance.yahoo.com/news/stocks-advance-pushing-dow-toward-192428084.html

Stocks advance, pushing Dow toward 14,000

Stocks advance, Pfizer earnings push Dow Jones toward 14,000

By Steve Rothwell, AP Business Writer

Pfizer helped keep the stock market rally alive Tuesday. The drugmaker's stock gained after posting strong earnings, pushing the Dow closer to 14,000.

The Dow Jones industrial average rose 73 points to close at 13,954.42 points, ending higher for the seventh day in eight. The Standard and Poor's 500 also rose, adding eight points to 1,507.84 points. The Nasdaq composite dropped less than a point to 3,153.66.

The January rally looked as if it was running out of steam yesterday as stocks pulled back from their highs, but Tuesday they resumed their ascent toward record levels. Demand was bolstered at the start of the year after lawmakers reached a deal to avoid the "fiscal cliff" and was sustained by reports that have added to evidence showing the U.S. housing market is recovering and the jobs market is slowly healing.

The Dow is 6.5 percent higher this month and the S&P 500 is up 5.7 percent. Both indexes are at their highest levels in more than five years.

Pfizer was the biggest gainer in the Dow, advancing 86 cents, or 3.2 percent, to $27.70 after the company said its fourth-quarter profit more than quadrupled because of a $4.8 billion gain from selling its nutrition business and despite competition from generic drugs hurting sales. Homebuilder D.R. Horton gained $2.51, or 11.8 percent, to $23.82 after it said that net income more than doubled as the housing recovery took hold. Improving home prices and better sales bolstered profits.

"The earnings season is not stellar, it's not gangbusters, but it's better than last quarter," said Quincy Krosby, a market strategist at Prudential.

Currently, analysts expect fourth-quarter earnings for 2012 to increase by an average of 4.7 percent for S&P 500 companies, according to the latest data from S&P Capital IQ. That's an improvement on the previous quarter when profit grew by 2.4 percent.

Valero Energy, a refinery operator, was the biggest gainer in the S&P 500. The company's stock climbed $4.96, or 13 percent, to $43.77 after the company said that fourth-quarter profit soared on higher refining margins, as it swapped out foreign crude for cheaper domestic oil.

Investor optimism was checked by a report that showed U.S. consumer confidence sank in January to the lowest level in more than a year as Americans fretted about the economic outlook and higher Social Security taxes. The Conference Board said that its consumer confidence index dropped to 58.6 in January, down from a reading of 66.7 in December.

Stocks also failed to get much of a lift from a report published before the market opened that showed the U.S. housing market is sustaining its recovery.

The Standard & Poor's/Case-Shiller 20-city home price index rose 5.5 percent in November compared with the same month a year ago, pushed higher by rising sales and a tighter supply of available homes.

"The turnaround in the housing market is for real," said Peter Cardillo, chief market economist at Rockwell Global Capital, who says the decline in consumer confidence will likely prove to be temporary as home prices rise. He predicts that the S&P 500 may climb as high as 1,575 this quarter as investor optimism about the economic recovery grows.

The Federal Reserve started a two-day meeting Tuesday. Investors will also be looking at the release of their statement Wednesday for clues about the outlook for the economy and interest rates.

The yield on the 10-year Treasury note rose by four basis points to 2 percent. The yield, which moves inversely to its price, is at its highest level since April.

Other stocks in the news;

”” Ford fell 64 cents, or 4.6 percent, to $13.14 despite reporting earnings that beat analysts' estimates. The automaker said that its losses in Europe would be bigger than it had previously forecast. The company's stock has advanced 49 percent in the last six months.

”” Seagate Technology, which makes hard disk drives for storage, fell $3.50, or 9.4 percent, to $33.91 after it reported a 13 percent drop in profits as expenses outpaced revenue growth.

”” Software company VMware fell $21.18 to $77.14 after it said that it late Monday that it expects first-quarter revenue to come in lower than Wall Street analysts had forecast. The company is also cutting 900 jobs, or about 7 percent of its workforce.

”” Eli Lilly rose $1.68, or 3.2 percent, to $54.32 after the drugmaker cut expenses, helping it beat analysts' expectations. The company's earnings slipped 4 percent.

 

[bigdog]

Source: http://finance.yahoo.com

A reminder that the U.S. economy still remains a long way from being fully healed after the Great Recession put the brakes on a January rally that has pushed stocks close to record levels. The Standard & Poor's 500 logged its biggest drop of the year.

Stocks started the day lower after a report showed that the U.S. economy unexpectedly contracted in the fourth quarter. That decline extended after the Federal Reserve said that it would continue its bond-buying program to boost growth.

The Dow Jones industrial average fell 44 points, or 0.3 percent, to close at 13,910.42, logging only its second decline in nine days. The Standard & Poor's 500 fell 6 points, or 0.4 percent, to 1,501.96, its biggest decline since Dec. 28. The Nasdaq composite fell 11 points to 3,142.31.

The U.S. economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles, the Commerce Department said Wednesday.

The Fed acknowledged that the economy is still struggling to regain momentum, in a statement it released Wednesday afternoon following its two-day meeting, saying that growth had "paused in recent months." The central bank took no new action and said it would keep buying $85 billion of bonds a month as part of its plan to keep borrowing costs low to spur growth.

"The Fed didn't really say anything out of the ordinary, so you got the reaction you should've had in the morning," said Joe Saluzzi a co-founder at brokerage firm Themis Trading. "When you've spent this much money trying to prop up an economy and you still come up with a negative print, that's bad news."

Still, stocks remain on track for a great January.

The Dow Jones average has surged 6.2 percent since the start of the year, climbing close to 14,000 and within touching distance of its record level. The S&P 500 has gained 5.3 percent this month, close to its highest level in more than five years. Investors bought stocks after lawmakers reached a deal to avoid the "fiscal cliff" and on optimism the U.S. housing market is recovering and the jobs market is slowly healing.

U.S. gross domestic product, the volume of all goods and services produced, contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.

"To ignore this is folly," said Doug Cote, chief market strategist at ING Investment Management. "Certainly, this market could continue to move forward, but ignoring the fundamentals is not something I'd counsel my clients to do."

Positive company earnings reports helped offset the disappointing news about the economy and stem a bigger decline.

The NYSE DOW closed LOWER ▼ -44.00 points or ▼ -0.32% Wednesday, 30 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,910.42 ▼ -44.00 ▼ -0.32%
Nasdaq____ 3,142.31 ▼ -11.35 ▼ -0.36%
S&P_500____ 1,501.96 ▼ -5.88 ▼ -0.39%
30_Yr_Bond____ 3.200 ▲ 0.03 ▲ 0.88%

NYSE Volume 4,020,228,750
Nasdaq Volume 2,013,779,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,323.11 ▼ -16.08 ▼ -0.25%
DAX_____ 7,811.31 ▼ -37.26 ▼ -0.47%
CAC_40__ 3,765.52 ▼ -20.30 ▼ -0.54%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,919.10 ▲ 8.30 ▲ 0.17%
Shanghai_Comp 2,382.47 ▲ 23.50 ▲ 1.00%
Taiwan_Weight 7,832.98 ▲ 30.98 ▲ 0.40%
Nikkei_225____ 11,113.95 ▲ 247.23 ▲ 2.28%
Hang_Seng____ 23,822.06 ▲ 53.93 ▲ 0.71%
Strait_Times___ 3,282.04 ▲ 22.29 ▲ 0.68%
NZX_50_Index__ 4,247.55 ▲ 47.26 ▲ 1.13%

http://finance.yahoo.com/news/stocks-drop-economy-put-brakes-220339170.html

Stocks drop as economy put brakes on stock rally

Stocks drop as GDP report, Fed remind investors that economy still has way to go for recovery

By Steve Rothwell, AP Business Writer

A reminder that the U.S. economy still remains a long way from being fully healed after the Great Recession put the brakes on a January rally that has pushed stocks close to record levels. The Standard & Poor's 500 logged its biggest drop of the year.

Stocks started the day lower after a report showed that the U.S. economy unexpectedly contracted in the fourth quarter. That decline extended after the Federal Reserve said that it would continue its bond-buying program to boost growth.

The Dow Jones industrial average fell 44 points, or 0.3 percent, to close at 13,910.42, logging only its second decline in nine days. The Standard & Poor's 500 fell 6 points, or 0.4 percent, to 1,501.96, its biggest decline since Dec. 28. The Nasdaq composite fell 11 points to 3,142.31.

The U.S. economy shrank from October through December for the first time since the recession ended, hurt by the biggest cut in defense spending in 40 years, fewer exports and sluggish growth in company stockpiles, the Commerce Department said Wednesday.

The Fed acknowledged that the economy is still struggling to regain momentum, in a statement it released Wednesday afternoon following its two-day meeting, saying that growth had "paused in recent months." The central bank took no new action and said it would keep buying $85 billion of bonds a month as part of its plan to keep borrowing costs low to spur growth.

"The Fed didn't really say anything out of the ordinary, so you got the reaction you should've had in the morning," said Joe Saluzzi a co-founder at brokerage firm Themis Trading. "When you've spent this much money trying to prop up an economy and you still come up with a negative print, that's bad news."

Still, stocks remain on track for a great January.

The Dow Jones average has surged 6.2 percent since the start of the year, climbing close to 14,000 and within touching distance of its record level. The S&P 500 has gained 5.3 percent this month, close to its highest level in more than five years. Investors bought stocks after lawmakers reached a deal to avoid the "fiscal cliff" and on optimism the U.S. housing market is recovering and the jobs market is slowly healing.

U.S. gross domestic product, the volume of all goods and services produced, contracted at an annual rate of 0.1 percent in the fourth quarter. That's a sharp slowdown from the 3.1 percent growth rate in the July-September quarter.

"To ignore this is folly," said Doug Cote, chief market strategist at ING Investment Management. "Certainly, this market could continue to move forward, but ignoring the fundamentals is not something I'd counsel my clients to do."

Positive company earnings reports helped offset the disappointing news about the economy and stem a bigger decline.

Amazon jumped $12.41, or 4.8 percent, to $272.76 after the world's biggest online retailer showed improving profit margins when it posted fourth-quarter earnings late Tuesday. Boeing, currently scrambling to fix battery problems that have grounded its 787 Dreamliner planes, gained 94 cents, or 1.3 percent, to $74.59 after it reported earnings that beat analysts' expectations. Rising profits from commercial jets offset a smaller profit from defense work.

A private survey showed Wednesday that U.S. businesses increased hiring in January compared with a revised December reading. Payroll processor ADP said that employers added 192,000 jobs in January.

Traders and investors will now turn their focus back on to company earnings and Friday's nonfarm employment report.

The yield on the 10-year Treasury note, which moves inversely to its price, fell 1 basis point to 1.99 percent.

Among other stocks making big moves Wednesday:

”” Chesapeake Energy rose $1.14, or 6 percent, to $20.11 after the company said late Tuesday that its embattled CEO Aubrey McClendon will leave the company this spring.

”” Avery Dennison, a packing materials company, rose $2.30, or 6.4 percent, to $38.44 after it posted fourth-quarter earnings that beat analysts' expectations and said it was selling two of its business units to CCL industries for $500 million. The company will use the proceeds of the sale to buy back stock and make additional pension contributions.

”” Copano Energy, a natural energy company, rose $4.90, or 14.8 percent, to $38.03 after the company said that it had agreed to be acquired by Kinder Morgan Energy Partners for about $3.2 billion in stock.

”” MeadWestvaco, a packaging company, fell $1.30, or 3.9 percent, to $31.63 after the company reported earnings that fell short of analysts' expectations.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow logged its best start to the year in almost two decades.

Stocks rallied in the first week of the year after U.S. lawmakers reached a deal to avoid the "fiscal cliff," and then pushed higher toward record levels as optimism about the housing market recovery grew. Decent company earnings for the fourth quarter and an improving job market also helped lift markets.

The Dow Jones industrial average ended the month up 5.8 percent, its strongest January since 1994, according to S&P Capital IQ data. The Standard & Poor's 500 finished the month 5 percent higher, its best start to the year since 1997.

"There's not a whole lot of bears left here," said Jeff Hirsch, the editor of the Stock Trader's Almanac, adding that the market may struggle to gain further in February.

Stocks have also benefited as investors have put money into equities in January. By one measure, the monthly flow into stock funds was the largest in nine years.

About $51 billion in net deposits was moved into stock funds and so-called hybrid funds, which invest in a mix of stocks and bonds, consultant Strategic Insight said Thursday. That's the most since $56 billion flowed in during January 2004.

On Thursday, stocks drifted lower as investors digested more earnings results and reports on the economy.

The Dow Jones industrial average fell 49 points to 13,860.58. The S&P 500 dropped 4 points to 1,498.11 and the Nasdaq composite was little changed at 3,142.13.

The Dow is just 304 points from its all-time high.

Among companies reporting earnings Thursday, UPS Inc., the world's biggest package-delivery company and an economic bellwether, fell 2.4 percent to $79.29. The company's fourth quarter was hurt by weak global trade, and it forecast 2013 results below expectations.

January's rally started to slow Wednesday after a report showed that the economy unexpectedly contracted in the fourth quarter of last year.

Stocks have gained against a backdrop of low borrowing costs and a slow, but steady, economic recovery. However, the market may struggle to build on those gains in the immediate future as traders and investors turn their attention back to Washington, said Ernie Cecilia, chief investment officer at Bryn Mawr Trust.

The NYSE DOW closed LOWER ▼ -49.84 points or ▼ -0.36% Thursday, 31 January 2013
Symbol …........Last ......Change.....
Dow_Jones 13,860.58 ▼ -49.84 ▼ -0.36%
Nasdaq____ 3,142.13 ▼ -0.18 ▼ -0.01%
S&P_500____ 1,498.11 ▼ -3.85 ▼ -0.26%
30_Yr_Bond____ 3.170 ▼ -0.03 ▼ -0.81%

NYSE Volume 4,227,457,500
Nasdaq Volume 2,199,718,000

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,276.88 ▼ -46.23 ▼ -0.73%
DAX_____ 7,776.05 ▼ -35.26 ▼ -0.45%
CAC_40__ 3,732.60 ▼ -32.92 ▼ -0.87%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,901.00 ▼ -18.10 ▼ -0.37%
Shanghai_Comp 2,385.42 ▲ 2.95 ▲ 0.12%
Taiwan_Weight 7,850.02 ▲ 17.04 ▲ 0.22%
Nikkei_225____ 11,138.66 ▲ 24.71 ▲ 0.22%
Hang_Seng____ 23,729.53 ▲ 53.93 ▼ -0.39%
Strait_Times___ 3,280.39 ▼ -5.51 ▼ -0.17%
NZX_50_Index__ 4,252.65 ▲ 5.10 ▲ 0.12%

http://finance.yahoo.com/news/dow-logs-best-january-nearly-222339081.html

Dow logs best January in nearly 2 decades

Stocks drift lower, but Dow still logs best January in almost 2 decades

By Steve Rothwell, AP Business Writer

The Dow logged its best start to the year in almost two decades.

Stocks rallied in the first week of the year after U.S. lawmakers reached a deal to avoid the "fiscal cliff," and then pushed higher toward record levels as optimism about the housing market recovery grew. Decent company earnings for the fourth quarter and an improving job market also helped lift markets.

The Dow Jones industrial average ended the month up 5.8 percent, its strongest January since 1994, according to S&P Capital IQ data. The Standard & Poor's 500 finished the month 5 percent higher, its best start to the year since 1997.

"There's not a whole lot of bears left here," said Jeff Hirsch, the editor of the Stock Trader's Almanac, adding that the market may struggle to gain further in February.

Stocks have also benefited as investors have put money into equities in January. By one measure, the monthly flow into stock funds was the largest in nine years.

About $51 billion in net deposits was moved into stock funds and so-called hybrid funds, which invest in a mix of stocks and bonds, consultant Strategic Insight said Thursday. That's the most since $56 billion flowed in during January 2004.

On Thursday, stocks drifted lower as investors digested more earnings results and reports on the economy.

The Dow Jones industrial average fell 49 points to 13,860.58. The S&P 500 dropped 4 points to 1,498.11 and the Nasdaq composite was little changed at 3,142.13.

The Dow is just 304 points from its all-time high.

Among companies reporting earnings Thursday, UPS Inc., the world's biggest package-delivery company and an economic bellwether, fell 2.4 percent to $79.29. The company's fourth quarter was hurt by weak global trade, and it forecast 2013 results below expectations.

January's rally started to slow Wednesday after a report showed that the economy unexpectedly contracted in the fourth quarter of last year.

Stocks have gained against a backdrop of low borrowing costs and a slow, but steady, economic recovery. However, the market may struggle to build on those gains in the immediate future as traders and investors turn their attention back to Washington, said Ernie Cecilia, chief investment officer at Bryn Mawr Trust.

The budget deal struck at the start of the year dealt with taxes, but across-the-board spending cuts were pushed back from Jan. 1 to March 1. While a showdown over the nation's borrowing limits appears to have been put off, lawmakers have yet to agree on how best to reduce government spending. Those negotiations could be protracted and increase stock market volatility, said Cecilia.

More government reports Thursday also gave investors a better picture of the health of the economy.

The number of Americans seeking unemployment aid rose sharply last week but remained at a level consistent with moderate hiring.

Investors will look for further clues about the strength of the jobs market Friday, when the closely followed monthly nonfarm payrolls report is published.

The yield on the 10-year Treasury note, which moves inversely to its price, was little changed at 1.99 percent.

Among other stocks making big moves:

”” Under Armour gained $2.74, or 5.7 percent, to $50.87, after the company said its fourth-quarter earnings jumped 10 percent and the clothing company predicted revenue growth of at least 20 percent in each of the next two years.

”” CononcoPhillips fell $3.09, or 5.1 percent, to $58 after the oil company said earnings fell as prices for oil and natural gas declined. The Houston-based company also said 2013 production would decline.

”” JDS Uniphase added $2.11, or 17 percent, to $14.51 after the technology company reported stronger-than-expected earnings on improved revenue and margins late Wednesday.

”” Constellation Brands slid $6.81, or 17.4 percent, to $32.36 after the Justice Department sued to stop Anheuser-Busch InBev's proposed $20.1 billion purchase of Mexican brewer Grupo Modelo, which would unite the ownership of popular beers like Budweiser and Corona. Constellation, a liquor and wine producer, was set to expand as part of a side deal in the merger.

”” Qualcomm Inc., a maker of chips for mobile devices, rose 3.9 percent to $66.02 after it said late on Wednesday that its earnings surged. Its revenue was boosted by growing global demand for smartphones.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow closed above 14,000 on Friday for the first time in more than five years.

It was just a number on a board, but it was enough to raise the hopes of some investors and cause others concern about an overheated market. And it brought reminders of a different era, back before the financial crisis rocked the world economy.

The Dow Jones industrial average, a stock market index that is traditionally considered a benchmark for how the entire market is faring, had been rising fairly steadily for about a month. On Friday, strong auto sales and optimism about U.S. job growth pushed it over the mark. The Dow is now just 155 points away from its record close.

"There's a newfound enthusiasm for the equity market," said Jim Russell, regional investment director at U.S. Bank Wealth Management in Minneapolis.

But market watchers were divided over what the Dow milestone ”” or even what a potential new all-time high ”” really means. To some, it's an important booster to hearts and minds, making investors feel optimistic and thus more willing to bet on the market.

"The Dow touching 14,000, it matters psychologically," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York. "It attracts smaller investors."

And those investors, until recently, had been shying away from stocks. Since April 2011, investors have pulled more cash out of U.S. stock mutual funds than they've put in, according to the Investment Company Institute. In the past three weeks, though, that trend has reversed, which could make January the first month in nearly two years where stock-focused funds had a net inflow.

To others, though, Dow 14,000 is nothing but a number, a sign more of how traders feel than of the economy. And it's not even the best number on the board, some traders say. Professional investors usually pay more heed to the Standard & Poor's main index, which tracks 500 companies compared to the Dow's 30. The Dow garners attention, they say, because it's more familiar to the general public.

Joe Gordon, managing partner at Gordon Asset Management in North Carolina, wasn't celebrating Friday. He thinks the gains won't last. The fact that small investors are finally piling back in the stock market, he said, is not a reason for optimism but a sign that it's getting overhyped and due to fall.

After the Dow hit its all-time record in 2007, it fell almost steadily for the next year and a half. It lost more than half its value before starting to tick back up again.

"It is good trivia to talk about on television and the radio," Gordon said, referring to the 14,000 mark. "It's meaningless to the average professional." And for workers still unemployed by the financial crisis, he said, "it really means nothing to them."

If there is dissent over what Dow 14,000 signifies, what's undeniable is that it's a rarefied event. Before Friday, the Dow had closed above 14,000 just nine times in its history. The first time was in July 2007; the rest were in October of that year.

The last time the Dow closed that mark was Oct. 12, 2007, when it settled at 14,093.08. It had reached its all-time record, 14,164.53, three days before that.

The NYSE DOW closed HIGHER ▲ 144.07 points or ▲ 1.04% Friday, 1 February 2013
Symbol …........Last ......Change.....
Dow_Jones 14,004.65 ▲ 144.07 ▲ 1.04%
Nasdaq____ 3,176.20 ▲ 34.07 ▲ 1.08%
S&P_500____ 1,512.11 ▲ 14.00 ▲ 0.93%
30_Yr_Bond____ 3.210 ▲ 0.04 ▲ 1.20%

NYSE Volume 3,399,985,500
Nasdaq Volume 1,683,228,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,347.24 ▲ 70.36 ▲ 1.12%
DAX_____ 7,833.39 ▲ 57.34 ▲ 0.74%
CAC_40__ 3,773.53 ▲ 40.93 ▲ 1.10%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,941.90 ▲ 40.90 ▲ 0.83%
Shanghai_Comp 2,419.02 ▲ 33.60 ▲ 1.41%
Taiwan_Weight 7,855.97 ▲ 5.95 ▲ 0.08%
Nikkei_225____ 11,191.34 ▲ 52.68 ▲ 0.47%
Hang_Seng____ 23,721.84 ▲ 53.93 ▼ -0.03%
Strait_Times___ 3,291.14 ▲ 8.48 ▲ 0.26%
NZX_50_Index__ 4,245.93 ▼ -6.71 ▼ -0.16%

http://finance.yahoo.com/news/dow-ends-above-14-000-212814328.html

Dow ends above 14,000 for 1st time since Oct. 2007

Jobs report pushes stocks higher, with Dow closing above 14,000 mark

By Christina Rexrode, Associated Press

The Dow closed above 14,000 on Friday for the first time in more than five years.

It was just a number on a board, but it was enough to raise the hopes of some investors and cause others concern about an overheated market. And it brought reminders of a different era, back before the financial crisis rocked the world economy.

The Dow Jones industrial average, a stock market index that is traditionally considered a benchmark for how the entire market is faring, had been rising fairly steadily for about a month. On Friday, strong auto sales and optimism about U.S. job growth pushed it over the mark. The Dow is now just 155 points away from its record close.

"There's a newfound enthusiasm for the equity market," said Jim Russell, regional investment director at U.S. Bank Wealth Management in Minneapolis.

But market watchers were divided over what the Dow milestone ”” or even what a potential new all-time high ”” really means. To some, it's an important booster to hearts and minds, making investors feel optimistic and thus more willing to bet on the market.

"The Dow touching 14,000, it matters psychologically," said Peter Cardillo, chief market economist at Rockwell Global Capital in New York. "It attracts smaller investors."

And those investors, until recently, had been shying away from stocks. Since April 2011, investors have pulled more cash out of U.S. stock mutual funds than they've put in, according to the Investment Company Institute. In the past three weeks, though, that trend has reversed, which could make January the first month in nearly two years where stock-focused funds had a net inflow.

To others, though, Dow 14,000 is nothing but a number, a sign more of how traders feel than of the economy. And it's not even the best number on the board, some traders say. Professional investors usually pay more heed to the Standard & Poor's main index, which tracks 500 companies compared to the Dow's 30. The Dow garners attention, they say, because it's more familiar to the general public.

Joe Gordon, managing partner at Gordon Asset Management in North Carolina, wasn't celebrating Friday. He thinks the gains won't last. The fact that small investors are finally piling back in the stock market, he said, is not a reason for optimism but a sign that it's getting overhyped and due to fall.

After the Dow hit its all-time record in 2007, it fell almost steadily for the next year and a half. It lost more than half its value before starting to tick back up again.

"It is good trivia to talk about on television and the radio," Gordon said, referring to the 14,000 mark. "It's meaningless to the average professional." And for workers still unemployed by the financial crisis, he said, "it really means nothing to them."

If there is dissent over what Dow 14,000 signifies, what's undeniable is that it's a rarefied event. Before Friday, the Dow had closed above 14,000 just nine times in its history. The first time was in July 2007; the rest were in October of that year.

The last time the Dow closed that mark was Oct. 12, 2007, when it settled at 14,093.08. It had reached its all-time record, 14,164.53, three days before that.

For the average investor, that was all back when the stock market still seemed like a party. Housing prices were starting to ebb but hadn't cratered. Jobs were abundant, with unemployment at 4.7 percent ”” compared to 7.9 percent now. Lehman Brothers still existed. So did Bear Stearns, Wachovia and Washington Mutual.

The Dow ended Friday 149.21 points higher to 14,009.79. The other indexes were also up. The S&P 500 rose 15.06 to 1,513.17. The Nasdaq composite index was up 36.97 to 3,179.10.

Auto sales helped. Toyota, Ford, GM and Chrysler all reported double-digit gains for January.

The government jobs report that pushed stocks forward was mixed, but traders chose to focus on the positive. The U.S. said it added 157,000 jobs in January, which was in line with expectations. Unemployment inched up to 7.9 percent from 7.8 percent in December. Many economists, though, were encouraged because the government now says that hiring over the past year was higher than originally thought.

The jobs number is based on a survey of employers. The unemployment rate is based on a separate survey of households, which is why they can diverge.

Among stocks making big moves:

””Drugmaker Merck fell more than 3 percent, down $1.42 to $41.83. Its fourth-quarter profit suffered because of competition from generic medicines against its blockbuster allergy drug Singulair.

”” Insurance company MetLife rose more than 2 percent, up 86 cents to $38.20, after saying it plans to buy the largest private pension fund administrator in Chile.

”” Zoetis, an animal health business that Pfizer just spun off, made its debut on the stock market. It shot up 19 percent, rising $5.01 to $31.01.

4093

 

[bigdog]

Source: http://finance.yahoo.com

Stocks hit a big milestone, then promptly spun off the road.

Major indexes dived the most this year Monday, the first trading day after the Dow broke 14,000 and closed at its highest level since the financial crisis.

The Dow Jones industrial average dropped as much as 143 points in afternoon trading. It closed down 129.71, or 0.9 percent, at 13,880.08.

The Standard & Poor's 500 index fell 17.46 points, or 1.2 percent, to 1,495.71. The Nasdaq composite index lost 47.93, or 1.5 percent, to 3,131.17.

Monday's declines were the biggest drops this year for all three indexes. They followed a surge Friday that pushed the Dow over 14,000 for the first time since 2007, before the financial meltdown that routed world markets.

Friday was only the tenth time in its history that the Dow closed above 14,000. The first was in July 2007; the rest were in October of that year. The index closed Friday just 155 points shy of its record high, set that October.

The rally was powered by solid economic data, including a January jobs report that showed the labor market is strengthening gradually. A broad measure of manufacturing also rose sharply.

The Dow is up nearly 6 percent this year. Yet Wall Street's celebratory mood was a distant memory Monday, as U.S. stocks followed European markets lower. France's CAC-40 closed down 3 percent, Germany's DAX 2.5 percent.

"It started to look like things in the market are maybe getting a little ahead of themselves, compared to some of the data we've seen," said Bill Stone, chief investment strategist at PNC Asset Management Group. He said problems in Europe are also beginning to affect U.S. markets after several quiet months.

Borrowing costs for Italy and Spain rose Monday, Stone noted, reflecting concerns among bond investors that those countries may be unable to meet their financial obligations.

"It kind of restarts some of the old worries that we've been able to ignore for quite some time," Stone said.

The NYSE DOW closed LOWER ▼ -129.71 points or ▼ -0.93% Monday, 4 February 2013
Symbol …........Last ......Change.....
Dow_Jones 13,880.08 ▼ -129.71 ▼ -0.93%
Nasdaq____ 3,131.17 ▼ -47.93 ▼ -1.51%
S&P_500____ 1,495.71 ▼ -17.46 ▼ -1.15%
30_Yr_Bond____ 3.180 ▼ -0.03 ▼ -0.97%

NYSE Volume 3,679,687,000
Nasdaq Volume 1,869,409,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,246.84 ▼ -100.40 ▼ -1.58%
DAX_____ 7,638.23 ▼ -195.16 ▼ -2.49%
CAC_40__ 3,659.91 ▼ -113.62 ▼ -3.01%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,929.10 ▼ -12.80 ▼ -0.26%
Shanghai_Comp 2,428.15 ▲ 9.13 ▲ 0.38%
Taiwan_Weight 7,923.16 ▲ 67.19 ▲ 0.86%
Nikkei_225____ 11,260.35 ▲ 69.01 ▲ 0.62%
Hang_Seng____ 23,685.01 ▲ 53.93 ▼ -0.16%
Strait_Times___ 3,297.37 ▲ 6.23 ▲ 0.19%
NZX_50_Index__ 4,246.40 ▲ 0.47 ▲ 0.01%

http://finance.yahoo.com/news/us-stocks-close-down-dows-214457446.html

US stocks close down after Dow's rally to 14,000

US stocks stumble on first trading day after Dow Jones industrial average's rally to 14,000

By Daniel Wagner, AP Business Writer

Stocks hit a big milestone, then promptly spun off the road.

Major indexes dived the most this year Monday, the first trading day after the Dow broke 14,000 and closed at its highest level since the financial crisis.

The Dow Jones industrial average dropped as much as 143 points in afternoon trading. It closed down 129.71, or 0.9 percent, at 13,880.08.

The Standard & Poor's 500 index fell 17.46 points, or 1.2 percent, to 1,495.71. The Nasdaq composite index lost 47.93, or 1.5 percent, to 3,131.17.

Monday's declines were the biggest drops this year for all three indexes. They followed a surge Friday that pushed the Dow over 14,000 for the first time since 2007, before the financial meltdown that routed world markets.

Friday was only the tenth time in its history that the Dow closed above 14,000. The first was in July 2007; the rest were in October of that year. The index closed Friday just 155 points shy of its record high, set that October.

The rally was powered by solid economic data, including a January jobs report that showed the labor market is strengthening gradually. A broad measure of manufacturing also rose sharply.

The Dow is up nearly 6 percent this year. Yet Wall Street's celebratory mood was a distant memory Monday, as U.S. stocks followed European markets lower. France's CAC-40 closed down 3 percent, Germany's DAX 2.5 percent.

"It started to look like things in the market are maybe getting a little ahead of themselves, compared to some of the data we've seen," said Bill Stone, chief investment strategist at PNC Asset Management Group. He said problems in Europe are also beginning to affect U.S. markets after several quiet months.

Borrowing costs for Italy and Spain rose Monday, Stone noted, reflecting concerns among bond investors that those countries may be unable to meet their financial obligations.

"It kind of restarts some of the old worries that we've been able to ignore for quite some time," Stone said.

In New York, Merck & Co. was among the Dow's biggest losers, dropping 98 cents, or 2.3 percent, to $40.85. The pharmaceutical company said Friday that its earnings declined in the fourth quarter and 2013 might be weaker than analysts had hoped.

Boeing was the only rising stock among the 30 in the Dow.

Corporate earnings reports continue this week. Health insurer Humana leapt $3.51, or 4.7 percent, to $78.86 after its results beat Wall Street's forecasts.

Cruise operator Royal Caribbean fell after reporting a quarterly loss related to its Spanish cruise line, Pullmantur. Prices and bookings have plunged since the Spanish government imposed strict austerity measures, limiting Spaniards' ability to spend. Royal Caribbean shares dropped $1.26, or 3.4 percent, to $35.53.

Media company Gannett Co Inc. fell $1.33, or 6.7 percent, to $18.51. Gannett's earnings beat Wall Street's expectations, but the company warned that its TV ad revenue will be hurt this quarter by the absence of $5.1 million in political spending and the move of the Super Bowl from NBC to CBS.

Among other companies making big moves was network gear maker Acme Packet Inc., which surged $5.66, or 23.7 percent, to $29.59 after Oracle said it would acquire the company for $2.1 billion.

McGraw-Hill Cos. plunged $8.04, or 13.8 percent, to $50.30 after midday news reports that the Justice Department plans to file civil charges against the company's Standard & Poor's credit rating unit. The government charges are expected to question S&P's high ratings of mortgage bonds that helped fuel the financial crisis.

Moody's Corp., another rating agency, followed McGraw-Hill down, even though there is no evidence that the government will charge that company. Moody's closed down $5.90, or 10.7 percent, at $49.45.

The two rating agencies had the biggest percentage declines in the S&P 500 index.

In Europe, political jitters about Spain and Italy pushed stocks lower. Some indexes had their worst day in months.

Concerns over Europe's debt crisis have eased since last summer, in part because of efforts by the Spanish and Italian governments to get their finances under control.

An upcoming election in Italy places some of those reforms in doubt. The Spanish government, meanwhile, is embroiled in a corruption scandal that's raising questions over the future of Prime Minister Mariano Rajoy.

The euro fell to $1.3512. The yield on the 10-year Treasury note fell to 1.96 percent from 2.05 percent earlier Monday as demand for ultra-safe assets increased.

Oil prices drifted lower. Crude fell $1.60 to $96.17 a barrel in New York.

 

[bigdog]

Source: http://finance.yahoo.com

The stock market bounced back Tuesday following a surge in U.S. home prices and signs of recovery in Europe's economy. Strong earnings reports also helped power the gains.

The Dow Jones industrial average ended the day 99.22 points higher at 13,979.30, erasing a large part of its loss from Monday. The index traded above 14,000 during the day before falling back in the last hour.

The Standard & Poor's 500 gained 15.59 points to 1,511.29. The Nasdaq composite was up 40.41 points to 3,171.58.

The rise follows two days of whiplash. On Monday, the Dow dropped 129 points, its worst sell-off of the year so far, as fears about Europe's finances resurfaced. On Friday, the index gained 149 points, closing above 14,000 for the first time since 2007. The Dow is now 185 points below the record high of 14,164 it reached on Oct. 9, 2007.

After strong gains for stocks this year, investors are wondering whether they should sell now, or wait and see if the rally still has legs, said Brad Reynolds, chief investment officer at LJPR, Inc.

"The market is extremely skittish right now, that's why we're seeing such big moves," said Reynolds.

Tuesday's advance was driven by new data showing that U.S. home prices rose in December at the fastest pace in more than six years. CoreLogic, a real estate data provider, reported that home prices rose 8.3 percent. In Europe, a measure of manufacturing and service businesses rose to a 10-month high January.

Estee Lauder rose $3.66, or 6 percent, to $64.71 after reporting earnings that beat analysts' expectations. Profits surged 13 percent at the beauty products company as sales in the U.S. and emerging markets rose. Computer Sciences Corp., an information technology services company, was the biggest gainer in the S&P 500. CSC rose $3.84, or 9.2 percent, to $45.75 after the company said it was raising its earnings outlook for the year because its cost-cutting efforts were yielding better results than it had expected.

Stocks have gotten off to a strong start this year. The Dow advanced 5.8 percent in January, its best start to the year since 1994, according to data compiled to S&P Dow Jones indices. The S&P 500 rose 5 percent last month.

The NYSE DOW closed HIGHER ▲ 99.22 points or ▲ 0.71% Tuesday, 5 February 2013
Symbol …........Last ......Change.....
Dow_Jones 13,979.30 ▲ 99.22 ▲ 0.71%
Nasdaq____ 3,171.58 ▲ 40.41 ▲ 1.29%
S&P_500____ 1,511.29 ▲ 15.58 ▲ 1.04%
30_Yr_Bond____ 3.220 ▲ 0.04 ▲ 1.38%

NYSE Volume 3,859,714,750
Nasdaq Volume 2,149,433,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,282.76 ▲ 35.92 ▲ 0.58%
DAX_____ 7,664.66 ▲ 26.43 ▲ 0.35%
CAC_40__ 3,694.70 ▲ 34.79 ▲ 0.95%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,902.60 ▼ -26.50 ▼ -0.54%
Shanghai_Comp 2,433.13 ▲ 4.98 ▲ 0.20%
Taiwan_Weight 7,886.94 ▼ -36.22 ▼ -0.46%
Nikkei_225____ 11,046.92 ▼ -213.43 ▼ -1.90%
Hang_Seng____ 23,148.53 ▲ 53.93 ▼ -2.27%
Strait_Times___ 3,272.66 ▼ -24.71 ▼ -0.75%
NZX_50_Index__ 4,211.95 ▼ -34.46 ▼ -0.81%

http://finance.yahoo.com/news/stocks-rebound-home-prices-earnings-210917994.html

Stocks rebound on home prices, earnings; Dow up 99

Stocks rebound on Wall Street, driven by a surge in home prices and strong earnings reports

By Christina Rexrode and Steve Rothwell

The stock market bounced back Tuesday following a surge in U.S. home prices and signs of recovery in Europe's economy. Strong earnings reports also helped power the gains.

The Dow Jones industrial average ended the day 99.22 points higher at 13,979.30, erasing a large part of its loss from Monday. The index traded above 14,000 during the day before falling back in the last hour.

The Standard & Poor's 500 gained 15.59 points to 1,511.29. The Nasdaq composite was up 40.41 points to 3,171.58.

The rise follows two days of whiplash. On Monday, the Dow dropped 129 points, its worst sell-off of the year so far, as fears about Europe's finances resurfaced. On Friday, the index gained 149 points, closing above 14,000 for the first time since 2007. The Dow is now 185 points below the record high of 14,164 it reached on Oct. 9, 2007.

After strong gains for stocks this year, investors are wondering whether they should sell now, or wait and see if the rally still has legs, said Brad Reynolds, chief investment officer at LJPR, Inc.

"The market is extremely skittish right now, that's why we're seeing such big moves," said Reynolds.

Tuesday's advance was driven by new data showing that U.S. home prices rose in December at the fastest pace in more than six years. CoreLogic, a real estate data provider, reported that home prices rose 8.3 percent. In Europe, a measure of manufacturing and service businesses rose to a 10-month high January.

Estee Lauder rose $3.66, or 6 percent, to $64.71 after reporting earnings that beat analysts' expectations. Profits surged 13 percent at the beauty products company as sales in the U.S. and emerging markets rose. Computer Sciences Corp., an information technology services company, was the biggest gainer in the S&P 500. CSC rose $3.84, or 9.2 percent, to $45.75 after the company said it was raising its earnings outlook for the year because its cost-cutting efforts were yielding better results than it had expected.

Stocks have gotten off to a strong start this year. The Dow advanced 5.8 percent in January, its best start to the year since 1994, according to data compiled to S&P Dow Jones indices. The S&P 500 rose 5 percent last month.

Lance Roberts, chief economist at Streettalk Advisors in Houston, Texas, said that's related more to the Federal Reserve's commitment to keep money cheap than to companies' performance. If earnings are beating estimates, he said, it's largely because expectations were so low.

"If you lower the hurdles enough, companies can get over them," Roberts said.

The fact that individual investors are starting to return to stocks, as they have in recent weeks, is another sign that the market is due for a correction, Roberts and other analysts have said.

McGraw-Hill Cos., parent of the Standard & Poor's ratings agency, fell $5.38, or 10.7 percent, to $44.92, after the federal government sued S&P. The government said that S&P knowingly misled investors about the quality of the mortgage-backed securities it was rating in the run-up to the financial crisis that caused the Great Recession. The stock dropped 14 percent on Monday after early reports about the lawsuit leaked out.

Traders sold bonds as they moved money into stocks. The yield on the 10-year Treasury note, which moves inversely to its price, climbed four basis points to 2 percent.

Other stocks making big moves;

”” Cereal maker Kellogg gained 40 cents, or 0.7 percent, to $58.50, after reporting fourth-quarter results. It booked a loss because of a pension-related charge, but underlying earnings rose, helped partly by the company's recent purchase of Pringles chips.

”” Dell, the struggling computer giant, rose 15 cents, or 1.1 percent, to $13.47 after the company announced a $24.4 billion buyout deal led by founder Michael Dell that will take the company private at $13.65 a share.

”” Yum Brands, parent of KFC, Pizza Hut and Taco Bell, fell $1.86, or 2.9 percent, to $62.08 after the company warned late Monday that 2013 profits could decline as it continues to reel from a controversy over its chicken suppliers in China.

”” Archer Daniel Midland, a company that makes food ingredients and animal feed, gained 94 cents, or 3.3 percent, to $29.38 after its earnings jumped in the last quarter following a restructuring.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks were flat on Wall Street as the latest round of earnings reports failed to give investors an impetus to push the market's recent rally forward.

The Dow Jones industrial average rose 7.22 points to 13,986.52 on Wednesday, after trading slightly lower for most of the day. The Standard & Poor's 500 rose 0.83 point to 1,512.12. The Nasdaq composite was three points lower at 3,168.48

Time Warner rose $2.05, or 4.1 percent, to $52.01 after the company said its net income grew 51 percent in the last three months of 2012 even as revenue was largely unchanged. Marathon Oil Corp. fell 32 cents, or 0.9 percent, to $34.40 after its fourth-quarter net income fell 41 percent on higher exploration costs and taxes.

Stocks are consolidating their gains after surging since the start of the year. The Dow closed above 14,000 for the first time since December 2007 Friday and had its best January in almost two decades. The index is up 6.7 percent this year; the broader S&P 500 is 6 percent higher.

"There's no question that we need to take a pause and let reality catch up," said Jim Russell, an investment director at U.S. Bank.

The rally started when lawmakers reached a last-minute deal at New Year's to avoid the "fiscal cliff," a series of steep tax increases and spending cuts that would have kicked in at the beginning of the year. The gains continued on optimism that the housing market recovery is gaining momentum and that the job market is healing.

While the budget deal reached in January dealt with tax increases, it didn't tackle spending cuts.

Automatic spending cuts, which would hit everything from defense spending to popular benefit programs, were scheduled to take effect Jan. 1, but were postponed till March 1. Russell says stocks will be unlikely to rise strongly while talks heat up in Washington over the spending cuts, which are also referred to as sequestration.

The rally has pushed stocks close to record levels. The Dow is 178 points off its record close, reached in October 2007, and the S&P is 53 points below its all-time high, achieved in the same month.

The NYSE DOW closed HIGHER ▲ 7.22 points or ▲ 0.05% Wednesday, 6 February 2013
Symbol …........Last ......Change.....
Dow_Jones 13,986.52 ▲ 7.22 ▲ 0.05%
Nasdaq____ 3,168.48 ▼ -3.10 ▼ -0.10%
S&P_500____ 1,512.12 ▲ 0.83 ▲ 0.05%
30_Yr_Bond____ 3.180 ▼ -0.04 ▼ -1.24%

NYSE Volume 3,782,407,750
Nasdaq Volume 1,996,284,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,295.34 ▲ 12.58 ▲ 0.20%
DAX_____ 7,581.18 ▼ -83.48 ▼ -1.09%
CAC_40__ 3,642.90 ▼ -51.80 ▼ -1.40%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,940.50 ▲ 37.90 ▲ 0.77%
Shanghai_Comp 2,434.48 ▲ 1.35 ▲ 0.06%
Taiwan_Weight 7,906.65 ▲ 19.71 ▲ 0.25%
Nikkei_225____ 11,463.75 ▲ 416.83 ▲ 3.77%
Hang_Seng____ 23,256.93 ▲ 53.93 ▲ 0.47%
Strait_Times___ 3,276.53 ▲ 3.87 ▲ 0.12%
NZX_50_Index__ 4,211.95 ▼ -34.46 ▼ -0.81%

http://finance.yahoo.com/news/stocks-little-changed-earnings-fail-212930395.html

Stocks little changed as earnings fail to inspire

Stocks flat as strong earnings from Disney and Time Warner fail to extend market rally

By Steve Rothwell, AP Business Writer

Stocks were flat on Wall Street as the latest round of earnings reports failed to give investors an impetus to push the market's recent rally forward.

The Dow Jones industrial average rose 7.22 points to 13,986.52 on Wednesday, after trading slightly lower for most of the day. The Standard & Poor's 500 rose 0.83 point to 1,512.12. The Nasdaq composite was three points lower at 3,168.48

Time Warner rose $2.05, or 4.1 percent, to $52.01 after the company said its net income grew 51 percent in the last three months of 2012 even as revenue was largely unchanged. Marathon Oil Corp. fell 32 cents, or 0.9 percent, to $34.40 after its fourth-quarter net income fell 41 percent on higher exploration costs and taxes.

Stocks are consolidating their gains after surging since the start of the year. The Dow closed above 14,000 for the first time since December 2007 Friday and had its best January in almost two decades. The index is up 6.7 percent this year; the broader S&P 500 is 6 percent higher.

"There's no question that we need to take a pause and let reality catch up," said Jim Russell, an investment director at U.S. Bank.

The rally started when lawmakers reached a last-minute deal at New Year's to avoid the "fiscal cliff," a series of steep tax increases and spending cuts that would have kicked in at the beginning of the year. The gains continued on optimism that the housing market recovery is gaining momentum and that the job market is healing.

While the budget deal reached in January dealt with tax increases, it didn't tackle spending cuts.

Automatic spending cuts, which would hit everything from defense spending to popular benefit programs, were scheduled to take effect Jan. 1, but were postponed till March 1. Russell says stocks will be unlikely to rise strongly while talks heat up in Washington over the spending cuts, which are also referred to as sequestration.

The rally has pushed stocks close to record levels. The Dow is 178 points off its record close, reached in October 2007, and the S&P is 53 points below its all-time high, achieved in the same month.

"We've had a really nice move up here, whether we graduate to the next level, I think is questionable," said Ben Schwarz, Chief Market Strategist at Light Speed Financial. "We're looking for something to spark it."

More than half of the companies in the S&P 500 have now reported earnings for the fourth quarter and analysts are expecting earnings for the period to rise by 6 percent, according to data from S&P Capital IQ. That puts earnings growth on track to increase for the third straight quarter after slowing to 0.81 percent in the second quarter of 2012.

As investors have become more comfortable holding riskier assets like stocks, they have cut their holdings in defensive investments like U.S. government bonds, sending yields on those bonds higher.

The yield on the 10-year Treasury note, which moves inversely to its price, has risen more than 20 basis points since the start of the year and is trading close to its highest level since April. The yield fell 4 basis points to 1.96 percent Wednesday.

Among other stocks making big moves:

”” Ralph Lauren surged $9.72, or 5.9 percent, to $174.63 after the designer clothing company posted a 27 percent increase in income. The company is reporting strong spending among its affluent shoppers in the U.S. and improving trends in Europe.

”” Walt Disney rose 23 cents, or 0.4 percent, to $54.52 after the company posted fiscal first-quarter profits that exceeded analysts' expectations. The entertainment giant's stock rose to a record $55.50, boosted by optimism about the earnings potential of its networks, movies and theme parks.

””Boise Cascade, a wood products and building materials company, jumped $5.15, or 24.5 percent, to $26.15 on its first day of trading.

”” Aflac fell $2.31, or 4.3 percent, to $51.18 after the insurer reported its fourth quarter earnings late Tuesday. RBC Capital Markets cut their forecast for the company's 2013 earnings to reflect the impact of a weaker Japanese yen. Aflac earns a significant portion of its revenues in Japan.

”” Liberty Global Inc., the cable TV operator controlled by media mogul John Malone, fell $1.82, or 2.7 percent, to $66.06 after it said it is buying U.K.-based Virgin Media Inc. in a $16 billion deal.