NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

The stock market got off to a slow start in April, edging lower after the Standard and Poor's 500 index eclipsed its all-time high last week.

The main catalyst was a slowdown in U.S. manufacturing growth last month. The decline in the Institute for Supply Management's benchmark manufacturing index for March was worse than economists had forecast. Stocks started falling shortly after the report came out at 10 a.m. and stayed lower the rest of the day.

The Dow Jones industrial average closed 5.69 points, or 0.04 percent, lower at 14,572.85. The Standard & Poor's 500 index dropped 7.02 points, or 0.5 percent, to 1,562.17.

Industrial companies fell 1 percent, the most in the S&P. 3M, which makes Post-it notes, industrial products and construction materials, fell 66 cents, or 0.6 percent, to $105.65. Caterpillar, a maker of construction and mining equipment, dropped $1.33, or 1.5 percent, to $85.64.

Investors have raised their expectations for the U.S. economy as the market has climbed this year, said JJ Kinahan, chief derivatives strategist at TD Ameritrade. The Dow is up 11.2 percent in 2013, the S&P 9.5 percent.

"The numbers have to be outstanding in order to drive the market higher," Kinahan said. "It's a different mindset when we're at these levels."

The S&P 500 closed the first quarter at an all-time high of 1,569.19, surpassing its previous record close of 1,565.15 set on Oct. 9, 2007. The index has recaptured all of its losses from the financial crisis and the Great Recession. The Dow broke through its previous all-time high March 5.

The market has risen this year because of optimism that housing is recovering and that employers and starting to hire again. Strong company earnings and continuing stimulus from the Federal Reserve have also increased demand for stocks.

Small stocks fared worse than large ones Monday.

The Russell 2000, a benchmark of small-company stocks, fell 1.3 percent to 938.78, paring its gain for the year to 10.5 percent. It was the index's biggest decline in more than a month. The Nasdaq composite fell 28.35 points, or 0.9 percent, to 3,239.17.

April is historically the second-strongest month for stocks, Deutsche Bank analysts said in report released Monday. The S&P 500 has gained an average of 1.4 percent in April, based on returns since 1960, making it the second strongest month after December.

The NYSE DOW closed LOWER ▼ -5.69 points or ▼ -0.04% Monday, 1 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,572.85 ▼ -5.69 ▼ -0.04%
Nasdaq____ 3,239.17 ▼ -28.35 ▼ -0.87%
S&P_500____ 1,562.17 ▼ -7.02 ▼ -0.45%
30_Yr_Bond____ 3.085 ▼ -0.02 ▼ -0.61%

NYSE Volume 3,019,848,500
Nasdaq Volume 1,480,855,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,411.74 ▲ 24.18 ▲ 0.38% closed for holiday April 1
DAX_____ 7,795.31 ▲ 6.22 ▲ 0.08% closed for holiday April 1
CAC_40__ 3,731.42 ▲ 19.78 ▲ 0.53% closed for holiday April 1

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,979.90 ▼ -27.10 ▼ -0.54% closed for holiday April 1
Shanghai_Comp 2,234.40 ▼ -1.91 ▼ -0.09%
Taiwan_Weight 7,899.24 ▲ 32.36 ▲ 0.41%
Nikkei_225____ 12,135.02 ▼ -262.89 ▼ -2.12%
Hang_Seng____ 22,299.63 ▲ 53.93 ▼ -0.74% closed for holiday April 1
Strait_Times___ 3,307.58 ▼ -0.52 ▼ -0.02%
NZX_50_Index__ 4,422.75 ▲ 10.69 ▲ 0.24% closed for holiday April 1

http://finance.yahoo.com/news/stocks-dip-manufacturing-growth-slows-153406339.html

Stocks dip after manufacturing growth slows

Stocks falter after report shows manufacturing growth slowed more than forecast in March

By Steve Rothwell, AP Markets Writer

The stock market got off to a slow start in April, edging lower after the Standard and Poor's 500 index eclipsed its all-time high last week.

The main catalyst was a slowdown in U.S. manufacturing growth last month. The decline in the Institute for Supply Management's benchmark manufacturing index for March was worse than economists had forecast. Stocks started falling shortly after the report came out at 10 a.m. and stayed lower the rest of the day.

The Dow Jones industrial average closed 5.69 points, or 0.04 percent, lower at 14,572.85. The Standard & Poor's 500 index dropped 7.02 points, or 0.5 percent, to 1,562.17.

Industrial companies fell 1 percent, the most in the S&P. 3M, which makes Post-it notes, industrial products and construction materials, fell 66 cents, or 0.6 percent, to $105.65. Caterpillar, a maker of construction and mining equipment, dropped $1.33, or 1.5 percent, to $85.64.

Investors have raised their expectations for the U.S. economy as the market has climbed this year, said JJ Kinahan, chief derivatives strategist at TD Ameritrade. The Dow is up 11.2 percent in 2013, the S&P 9.5 percent.

"The numbers have to be outstanding in order to drive the market higher," Kinahan said. "It's a different mindset when we're at these levels."

The S&P 500 closed the first quarter at an all-time high of 1,569.19, surpassing its previous record close of 1,565.15 set on Oct. 9, 2007. The index has recaptured all of its losses from the financial crisis and the Great Recession. The Dow broke through its previous all-time high March 5.

The market has risen this year because of optimism that housing is recovering and that employers and starting to hire again. Strong company earnings and continuing stimulus from the Federal Reserve have also increased demand for stocks.

Small stocks fared worse than large ones Monday.

The Russell 2000, a benchmark of small-company stocks, fell 1.3 percent to 938.78, paring its gain for the year to 10.5 percent. It was the index's biggest decline in more than a month. The Nasdaq composite fell 28.35 points, or 0.9 percent, to 3,239.17.

April is historically the second-strongest month for stocks, Deutsche Bank analysts said in report released Monday. The S&P 500 has gained an average of 1.4 percent in April, based on returns since 1960, making it the second strongest month after December.

The last meaningful setback for stocks started before November's election. The market slid 6 percent between Oct. 1 and Nov. 15 in the run-up to the vote and immediately afterwards on concerns that Washington would be unable to enact reforms to keep the economy growing.

Evidence that growth is continuing, despite the political tensions in Washington, have kept stocks on an upward trajectory since then, leaving investors waiting for dips to add to their holdings.

"I'd love to have some sort of a pullback here because I'd think it's an opportunity," said Scott Wren, an equity strategist at Wells Fargo Advisors. "But it doesn't feel like we're going to have one in the near term."

The yield on the 10-year Treasury note, which moves inversely to its price, fell to 1.84 percent from 1.85 percent.

Markets were closed in observance of Good Friday last week. European markets were closed Monday for Easter.

Among other stocks making big moves:

”” Tesla Motors jumped $6.04, or 16 percent, to $43.93 after the electric car company said sales are running ahead of schedule. The Palo Alto, Calif., company said Sunday night that first-quarter sales have exceeded 4,750 Model S sedans, above its previous forecast of 4,500.

”” DFC Global, a finance company that provides loans to consumers without bank accounts, fell $3.60, or 22 percent, to $13.04 after slashing its earnings estimate for its fiscal year because of increasing loan defaults in its business in Britain.

”” American Greetings rose $1.95, or 12 percent, to $18.05 after the company agreed to be taken private for about $602 million by a group led by some of its top executives.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow Jones industrial average closed at a record high Tuesday after reports on auto sales and factory orders provided the latest evidence that the U.S. economy is strengthening. Traders plowed money back into European stocks as the financial situation in Cyprus appeared to stabilize.

Health insurers powered the gains a day after the government released revised reimbursement rates for Medicare Advantage plans. The new numbers suggest that funding cuts will be less severe than analysts and companies had feared.

The Dow closed up 89.16 points, or 0.6 percent, at 14,662.01. It had risen as high as 14,684 in the late morning.

The Dow broke through an all-time record on March 5. It has risen steadily since then, routinely setting new trading highs.

The Standard & Poor's 500 index rose 8.08 points, or 0.5 percent, to 1,570.25. It rose to within two points of its trading high of 1,576 reached on Oct. 11, 2007.

European markets closed sharply higher on the first trading day after a tense, four-day holiday weekend. Paris' CAC-40 rose 2 percent, London's FTSE 100 1.2 percent and Frankfurt's DAX 1.9 percent.

The gains in Europe markets boosted confidence among U.S. investors. While European markets were closed for four days for the Easter holiday, many traders feared that Cyprus' precarious financial situation would worsen. That concern also weighed on U.S. markets Monday, said Peter Tchir, who runs the hedge fund TF Market Advisors.

But no bad news materialized. Instead, Cyprus' international lenders agreed to extend until 2018 its deadline for meeting key budget targets. European markets opened higher and rose strongly after U.S. trading began Tuesday. The gains fed a virtuous cycle that sent stocks higher on both sides of the Atlantic, Tchir said.

"Everyone was waiting to see if Europe had problems from Cyprus," he said. "Instead, we got the all-clear signal."

The trading day began with solid March sales reports from U.S. automakers. Chrysler said it sold more cars and trucks than in any month since the Great Recession began, an increase of 5 percent. Sales for General Motors and Ford rose 6 percent.

The NYSE DOW closed HIGHER ▲ 89.16 points or ▲ 0.61% Tuesday, 2 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,662.01 ▲ 89.16 ▲ 0.61%
Nasdaq____ 3,254.86 ▲ 15.69 ▲ 0.48%
S&P_500____ 1,570.25 ▲ 8.08 ▲ 0.52%
30_Yr_Bond____ 3.102 ▲ 0.02 ▲ 0.55%

NYSE Volume 3,594,881,250
Nasdaq Volume 1,588,663,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,490.66 ▲ 78.92 ▲ 1.23%
DAX_____ 7,943.87 ▲ 148.56 ▲ 1.91%
CAC_40__ 3,805.37 ▲ 73.95 ▲ 1.98%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,995.50 ▲ 15.60 ▲ 0.31%
Shanghai_Comp 2,227.74 ▼ -6.66 ▼ -0.30%
Taiwan_Weight 7,913.18 ▲ 13.94 ▲ 0.18%
Nikkei_225____ 12,003.43 ▼ -131.59 ▼ -1.08%
Hang_Seng____ 22,367.82 ▲ 53.93 ▲ 0.31%
Strait_Times___ 3,316.30 ▲ 8.72 ▲ 0.26%
NZX_50_Index__ 4,411.41 ▼ -11.34 ▼ -0.26%

http://finance.yahoo.com/news/health-insurers-lead-stocks-higher-191346781.html

Health insurers lead stocks higher on Wall Street

Health insurers lead US stocks higher; traders are relieved that Europe appears more stable

By Daniel Wagner, AP Business Writer

The Dow Jones industrial average closed at a record high Tuesday after reports on auto sales and factory orders provided the latest evidence that the U.S. economy is strengthening. Traders plowed money back into European stocks as the financial situation in Cyprus appeared to stabilize.

Health insurers powered the gains a day after the government released revised reimbursement rates for Medicare Advantage plans. The new numbers suggest that funding cuts will be less severe than analysts and companies had feared.

The Dow closed up 89.16 points, or 0.6 percent, at 14,662.01. It had risen as high as 14,684 in the late morning.

The Dow broke through an all-time record on March 5. It has risen steadily since then, routinely setting new trading highs.

The Standard & Poor's 500 index rose 8.08 points, or 0.5 percent, to 1,570.25. It rose to within two points of its trading high of 1,576 reached on Oct. 11, 2007.

European markets closed sharply higher on the first trading day after a tense, four-day holiday weekend. Paris' CAC-40 rose 2 percent, London's FTSE 100 1.2 percent and Frankfurt's DAX 1.9 percent.

The gains in Europe markets boosted confidence among U.S. investors. While European markets were closed for four days for the Easter holiday, many traders feared that Cyprus' precarious financial situation would worsen. That concern also weighed on U.S. markets Monday, said Peter Tchir, who runs the hedge fund TF Market Advisors.

But no bad news materialized. Instead, Cyprus' international lenders agreed to extend until 2018 its deadline for meeting key budget targets. European markets opened higher and rose strongly after U.S. trading began Tuesday. The gains fed a virtuous cycle that sent stocks higher on both sides of the Atlantic, Tchir said.

"Everyone was waiting to see if Europe had problems from Cyprus," he said. "Instead, we got the all-clear signal."

The trading day began with solid March sales reports from U.S. automakers. Chrysler said it sold more cars and trucks than in any month since the Great Recession began, an increase of 5 percent. Sales for General Motors and Ford rose 6 percent.

Orders to U.S. factories rose 3 percent in February, the best gain in five months, the government said after trading began. The increase was driven by a surge in demand for commercial aircraft, an especially volatile category.

Health care stocks rose the most of the 10 sectors in the S&P 500 index, adding 1.4 percent. The sector is up 17.1 percent this year.

Traders were relieved about the insurers' prospects after Monday's news about Medicare Advantage rates. Preliminary data released in February had raised fears that companies offering the plans would be forced to cut benefits, increase customers' premiums or abandon some markets. This week's data suggest that may not be necessary.

UnitedHealth was the biggest gainer in the Dow. DaVita HealthCare Partners Inc. led the S&P 500 higher. Also among the S&P 500's top 15 gainers were Humana Inc., Aetna Inc. and Cigna Corp.

UnitedHealth rose $2.77, or 4.7 percent, to $61.74. DaVita rose $7.29, or 6.1 percent, to $127.20. Humana gained $4.09, or 5.5 percent, to $79.11. Aetna rose $1.92, or 3.7 percent, to $54.30. Cigna added $1.84, or 2.9 percent, to $64.75.

Airline stocks fell sharply after Delta Air Lines Inc. said a key measure of revenue was hurt last month by government spending cuts, a technical glitch and attempts to get passengers to pay more.

Delta fell $1.31, or 8.1 percent, to $14.94. United Continental Holdings Inc. lost $1.59, or 5.1 percent, to $29.38. US Airways Group Inc. fell 93 cents, or 5.6 percent, to $15.74. JetBlue Airways Corp. dropped 40 cents, or 5.9 percent, to $6.34.

The industry dragged the Dow Jones transportation average down 1.2 percent. The index fell even more on Monday, 1.5 percent, after U.S. manufacturing slowed more than economists forecast in March. The index, which includes airlines like Delta, United and freight companies FedEx and UPS, has gained 14.7 percent this year.

The manufacturing report was "much weaker than expected," according to Jim Russell, an investment director at US Bank. He said companies that are closely tied to the economic cycle "have really taken on some water because of what that implies."

For the second day in a row, small stocks underperformed the market. The Russell 2000 index of small-company stocks fell 4.49 points, or 0.5 percent, to 934.20. The Russell had risen more than large-company indexes in the first quarter, gaining 12 percent versus 11.3 percent for the Dow and 10 percent for the S&P.

The Nasdaq composite rose 15.69, or 0.5 percent, to 3,254.86.

Some other companies making big moves:

”” Hewlett-Packard plunged after a Goldman Sachs analyst downgraded the stock, predicting the company's earnings will be weak. Shares fell $1.21, or 5.2 percent, to $22.10.

”” Urban Outfitters climbed a day after the clothing and accessories company said sales at stores open at least a year have grown in the high single digits in the first two months of the fiscal quarter started Feb. 1. Sales at stores open at least a year is a key gauge of a retailer's health because it excludes results from stores recently opened or closed. The stock rose $1.46, or 3.8 percent, to $39.87.

”” Actavis Inc. rose after a U.S. court declared a rival's patent invalid, clearing the way for Actavis to sell a generic asthma inhaler. The stock added $4.22 or 4.6 percent, to $96.68.

 

[bigdog]

Source: http://finance.yahoo.com

Weak reports on hiring and service industries sent the stock market sharply lower Wednesday, giving the Dow Jones industrial average its worst day in more than a month.

The Dow fell 111.66 points, or 0.8 percent, to 14,550.35, its worst decline since Feb. 25. The Standard & Poor's 500 index dropped 16.56 points, or 1.1 percent, to 1,553.69. Both indexes closed at record highs the day before.

The stock market started 2013 with a rally as investors became more optimistic about the U.S. economy, especially housing and jobs. The reports Wednesday disappointed the market and came two days after news that U.S. manufacturing growth slowed unexpectedly last month.

The losses were widespread. All 10 industry groups in the S&P 500 index fell. Banks and energy stocks had the worst losses, 1.7 percent and 1.6 percent. Utilities, which investors hold when they want to play it safe, fell the least, 0.3 percent.

"The market is overdue for a correction," said Joe Saluzzi at Themis Trading. "I don't think that the economy supports this type of a rally."

Signs of investor skittishness appeared across a number of different markets.

Commodities slumped. Crude oil dropped $2.74, or 2.8 percent, to close at $94.45 a barrel and industrial metals like copper fell.

The yield on the 10-year Treasury note fell to 1.81 percent from 1.86 percent, the lowest level for the benchmark rate since January. The decline means investors are moving money into low-risk U.S. government debt.

The Russell 2000 index, which tracks small company stocks, fell for a third straight day, dropping 1.7 percent. It's now down 3.5 percent so far this week, far worse than the declines in the Dow, 0.2 percent, and the S&P, 1 percent. That's another signal that investors may be becoming more bearish about the U.S. economy.

Small company stocks, which did better than the Dow and the S&P 500 in the first three months of the year, are more sensitive to the outlook for the U.S. economy than the larger companies in the Dow and S&P. That's because they rely far more on domestic sales than global giants like IBM and Caterpillar, which sells heavy machinery and construction equipment around the globe.

The Dow Jones Transportation Average, an index of 20 stocks including airlines like Delta and freight companies FedEx and UPS, fell more than 1 percent for a third straight day. The index, which is regarded as a leading indicator for broader market indexes as well as the economy, has fallen 3.9 percent this week, after surging 17.9 percent in the first quarter.

The NYSE DOW closed LOWER ▼ -111.66 points or ▼ -0.76% Wednesday, 3 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,550.35 ▼ -111.66 ▼ -0.76%
Nasdaq____ 3,218.60 ▼ -36.26 ▼ -1.11%
S&P_500____ 1,553.69 ▼ -16.56 ▼ -1.05%
30_Yr_Bond____ 3.050 ▼ -0.05 ▼ -1.52%

NYSE Volume 4,458,017,000
Nasdaq Volume 1,825,377,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,420.28 ▼ -70.38 ▼ -1.08%
DAX_____ 7,874.75 ▼ -69.12 ▼ -0.87%
CAC_40__ 3,754.96 ▼ -50.41 ▼ -1.32%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,966.40 ▼ -29.10 ▼ -0.58%
Shanghai_Comp 2,225.29 ▼ -2.45 ▼ -0.11%
Taiwan_Weight 7,942.35 ▲ 29.17 ▲ 0.37%
Nikkei_225____ 12,362.20 ▲ 358.77 ▲ 2.99%
Hang_Seng____ 22,392.68 ▲ 53.93 ▲ 0.11%
Strait_Times___ 3,321.77 ▲ 4.18 ▲ 0.13%
NZX_50_Index__ 4,412.85 ▲ 1.44 ▲ 0.03%

http://news.yahoo.com/weak-economic-reports-send-stock-182723948.html

Weak economic reports send stock market lower

Stocks slump following reports of slower hiring and weak growth in service industries

By Steve Rothwell, AP Markets Writer

Weak reports on hiring and service industries sent the stock market sharply lower Wednesday, giving the Dow Jones industrial average its worst day in more than a month.

The Dow fell 111.66 points, or 0.8 percent, to 14,550.35, its worst decline since Feb. 25. The Standard & Poor's 500 index dropped 16.56 points, or 1.1 percent, to 1,553.69. Both indexes closed at record highs the day before.

The stock market started 2013 with a rally as investors became more optimistic about the U.S. economy, especially housing and jobs. The reports Wednesday disappointed the market and came two days after news that U.S. manufacturing growth slowed unexpectedly last month.

The losses were widespread. All 10 industry groups in the S&P 500 index fell. Banks and energy stocks had the worst losses, 1.7 percent and 1.6 percent. Utilities, which investors hold when they want to play it safe, fell the least, 0.3 percent.

"The market is overdue for a correction," said Joe Saluzzi at Themis Trading. "I don't think that the economy supports this type of a rally."

Signs of investor skittishness appeared across a number of different markets.

Commodities slumped. Crude oil dropped $2.74, or 2.8 percent, to close at $94.45 a barrel and industrial metals like copper fell.

The yield on the 10-year Treasury note fell to 1.81 percent from 1.86 percent, the lowest level for the benchmark rate since January. The decline means investors are moving money into low-risk U.S. government debt.

The Russell 2000 index, which tracks small company stocks, fell for a third straight day, dropping 1.7 percent. It's now down 3.5 percent so far this week, far worse than the declines in the Dow, 0.2 percent, and the S&P, 1 percent. That's another signal that investors may be becoming more bearish about the U.S. economy.

Small company stocks, which did better than the Dow and the S&P 500 in the first three months of the year, are more sensitive to the outlook for the U.S. economy than the larger companies in the Dow and S&P. That's because they rely far more on domestic sales than global giants like IBM and Caterpillar, which sells heavy machinery and construction equipment around the globe.

The Dow Jones Transportation Average, an index of 20 stocks including airlines like Delta and freight companies FedEx and UPS, fell more than 1 percent for a third straight day. The index, which is regarded as a leading indicator for broader market indexes as well as the economy, has fallen 3.9 percent this week, after surging 17.9 percent in the first quarter.

U.S. service companies kept growing at a solid pace in March, but the expansion was less than economists were expecting. The Institute for Supply Management's index of service companies fell to 54.4 from 56 a month earlier. The report was the weakest in seven months.

Separately, payrolls processor ADP reported that U.S. employers added 158,000 jobs last month, down from February's gain of 237,000. The ADP report is often seen as a preview for the government's broader survey on employment, which is due out Friday.

The slowdown in hiring was due in part to construction firms holding back on adding new employees. That sent the stocks of homebuilders lower. PulteGroup fell 85 cent, or 4.3 percent, to $19.01 and D.R. Horton dropped 57 cents to $22.84.

In other trading, the Nasdaq composite fell 36.26 points, or 1.1 percent, to 3,218.60.

Even though stocks started the second quarter lower, markets typically add to their gains after ending the first quarter up, said Sam Stovall, an equity strategist at S&P Capital IQ. Using data going back over more than 60 years, Stovall says that the S&P 500 has gained an average of 9 percent from April to December after rising in the first quarter.

"Investors believe that the economic trajectory is improving," said Stovall. Stocks "do not reflect the true valuations based on where the economy will be at the end of the year."

Among stocks making big moves:

”” Zynga rose 46 cents, or 15 percent, to $3.53 after the online game maker said two casino games would debut in the United Kingdom Wednesday.

”” Abercrombie & Fitch rose $1.74, or 3.8 percent, to $47.20, making it the biggest percentage gainer in the S&P 500. The company said late Tuesday that it planned to expand internationally and place greater emphasis on cost control.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow Jones industrial average closed higher Thursday, regaining half of its plunge the day before, as buyers returned to the market.

The Dow rose 55.76 points, or 0.4 percent, to close at 14,606.11. On Wednesday it dropped 111, its worst fall in more than a month, following weak reports on hiring and service industries. The decline was enough to make stock prices seem attractive again.

"Investors have been looking for a reason to sell, given the rally we've seen in the market in the past couple of months," said Joseph Tanious at JPMorgan Funds. "Today, you're seeing investors come back into the market and buy on the dip."

The stock market got off to a strong start in 2013. The Dow climbed 10 percent in the first three months of the year and closed at a record high of 14,662 Tuesday. Investors have been encouraged by signs that the housing market was recovering and that hiring was picking up.

The market continued a steady advance through the first two weeks of March, but since then indexes have been alternating between gains and losses on a nearly daily basis as investors' confidence in the U.S. economic recovery weakened.

There was more discouraging economic news Thursday. The number of Americans seeking unemployment aid rose to a four-month high of 385,000 last week, the Labor Department said. The government will issue its employment report Friday, which investors look at closely for insight into how the U.S. economy is doing.

Japanese stocks jumped and the yen sank after the country's central bank announced aggressive measures for getting the world's third-largest economy out of a two-decade slump. The Bank of Japan, under new Governor Haruhiko Kuroda, surprised markets by saying it would greatly increase the country's money supply with the goal of encouraging people and businesses to borrow and spend. The yen weakened 3.6 percent against the dollar, to 96.33 yen, while Tokyo's Nikkei stock index rose 2.2 percent to 12,634.54.

In other trading, the Standard & Poor's 500 index rose 6.29 points, or 0.4 percent, to 1,559.98. The Nasdaq composite fell rose 6.38 points, or 0.2 percent, to 3,224.98.

The NYSE DOW closed HIGHER ▲ 55.76 points or ▲ 0.38% Thursday, 4 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,606.11 ▲ 55.76 ▲ 0.38%
Nasdaq____ 3,224.98 ▲ 6.38 ▲ 0.20%
S&P_500____ 1,559.98 ▲ 6.29 ▲ 0.40%
30_Yr_Bond____ 2.987 ▼ -0.07 ▼ -2.23%

NYSE Volume 3,567,435,500
Nasdaq Volume 1,470,237,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,344.12 ▼ -76.16 ▼ -1.19%
DAX_____ 7,817.39 ▼ -57.36 ▼ -0.73%
CAC_40__ 3,726.16 ▼ -28.80 ▼ -0.77%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,919.30 ▼ -47.10 ▼ -0.95%
Shanghai_Comp 2,225.29 ▼ -2.45 ▼ -0.11%
Taiwan_Weight 7,942.35 ▲ 29.17 ▲ 0.37%
Nikkei_225____ 12,634.54 ▲ 272.34 ▲ 2.20%
Hang_Seng____ 22,337.49 ▲ 53.93 ▼ -0.14%
Strait_Times___ 3,307.80 ▼ -13.97 ▼ -0.42%
NZX_50_Index__ 4,430.17 ▲ 17.32 ▲ 0.39%

http://sg.finance.yahoo.com/news/stocks-move-higher-wall-street-201524735.html

Stocks move higher on Wall Street; Best Buy soars

Dow Jones industrial average gains 55 points, recovering half of its loss from a day before

By Steve Rothwell, AP Markets Writer

The Dow Jones industrial average closed higher Thursday, regaining half of its plunge the day before, as buyers returned to the market.

The Dow rose 55.76 points, or 0.4 percent, to close at 14,606.11. On Wednesday it dropped 111, its worst fall in more than a month, following weak reports on hiring and service industries. The decline was enough to make stock prices seem attractive again.

"Investors have been looking for a reason to sell, given the rally we've seen in the market in the past couple of months," said Joseph Tanious at JPMorgan Funds. "Today, you're seeing investors come back into the market and buy on the dip."

The stock market got off to a strong start in 2013. The Dow climbed 10 percent in the first three months of the year and closed at a record high of 14,662 Tuesday. Investors have been encouraged by signs that the housing market was recovering and that hiring was picking up.

The market continued a steady advance through the first two weeks of March, but since then indexes have been alternating between gains and losses on a nearly daily basis as investors' confidence in the U.S. economic recovery weakened.

There was more discouraging economic news Thursday. The number of Americans seeking unemployment aid rose to a four-month high of 385,000 last week, the Labor Department said. The government will issue its employment report Friday, which investors look at closely for insight into how the U.S. economy is doing.

"The trend seems to be worsening," said Peter Cardillo, chief market economist at Rockwell Global Capital. "We're seeing a little hesitation in anticipation of tomorrow's job report."

Safer industry groups rose Thursday. Telecommunications companies and utilities led the gains for the S&P 500, rising 1.3 percent and 0.9 percent.

So-called defensive industries, such as health care, consumer staples and utilities, which have stable earnings and dividends, have led the market rally this year. Investors have been seeking out stocks that give them similar characteristics to debt investments after a powerful rally in bonds over the last year pushed yields sharply lower. The yield on the benchmark 10-year Treasury note has traded below 2 percent for most of the last year.

The 10-year yield fell to 1.76 percent Thursday from 1.81 percent a day earlier, within a fraction of its lowest level of the year. The note's yield has declined over the last month as demand for less risky assets increased following the financial crisis in Cyprus and signs of a slowdown in the U.S. The yield was as high as 2.06 percent on March 11.

Japanese stocks jumped and the yen sank after the country's central bank announced aggressive measures for getting the world's third-largest economy out of a two-decade slump. The Bank of Japan, under new Governor Haruhiko Kuroda, surprised markets by saying it would greatly increase the country's money supply with the goal of encouraging people and businesses to borrow and spend. The yen weakened 3.6 percent against the dollar, to 96.33 yen, while Tokyo's Nikkei stock index rose 2.2 percent to 12,634.54.

U.S.-listed shares of Japanese automakers rose sharply. A weaker yen would make Japanese vehicles less expensive in markets outside Japan, and therefore more competitive. The U.S. shares of Toyota rose $4.75, or 4.7 percent, to $105.63, Honda's rose $2.01, or 5.4 percent, to $39.21 and Nissan's rose $1.03, or 5.5 percent, to $19.85. Japanese electronics makers also rose. Sony rose 57 cents, or 3.5 percent, to $17 and Panasonic climbed 27 cents, or 4.2 percent, to $6.69.

In other trading, the Standard & Poor's 500 index rose 6.29 points, or 0.4 percent, to 1,559.98. The Nasdaq composite fell rose 6.38 points, or 0.2 percent, to 3,224.98.

Among stocks making big moves, electronics retailer Best Buy jumped $3.48, or 16 percent, to $25.13 after saying it would collaborate with the Korean smartphone and tablet maker Samsung to open kiosks in its stores.

Facebook rose 82 cents, or 3.1 percent, to $27.07 after the social network unveiled a new product for Android phones that will bring content to users on the phone's home screen. More Android integration could help Facebook Inc. attract more mobile advertisers.

MetroPCS rose 16 cents, or 1.5 percent, to $11.12 after Reuters reported that Deutsche Telekom is considering amending the terms of the proposed merger between its T-Mobile USA business and local rival Metro PCS.

 

[bigdog]

Source: http://finance.yahoo.com

Stocks fell on Wall Street Friday after the government reported a sharp slowdown in hiring last month that was far worse than economists had expected.

The Dow Jones industrial average ended 40.86 points lower at 14,565.25, a loss of 0.3 percent. The index was down as much as 171 points in the early going, then rose gradually through the rest of the day to reclaim much of its early loss.

U.S. employers added just 88,000 jobs in March, the Labor Department reported. That's half the average of the previous six months. The report was a disappointment for investors following positive signs on housing and the job market over the winter.

The survey, one of the most closely watched indicators of the economy, dented investors' confidence that the U.S. was poised for a sustained recovery. The stock market has surged this year, pushing the Dow to another record high close on Tuesday. The index is still up 11.2 percent this year.

"Things are still looking decent, but there's no doubt that this was a bit of a disappointment," said Brad Sorensen, Charles Schwab's director of market and sector research. "We're watching to see: is this the start of another soft patch?"

In other trading, the Standard & Poor's 500 index fell 6.70 points, or 0.4 percent, to 1,553.28. The index logged its worst week of year, falling 1 percent.

The Nasdaq composite, which includes many technology companies, fell 21.12 points, or 0.7 percent, to 3,203.86.

Technology stocks fell the most of the 10 industry groups in the index, dropping 1 percent. Among big decliners in tech stocks, Cisco Systems fell 43 cents, or 2 percent, to $20.61. Oracle dropped 34 cents, or 1 percent, to $32.03.

Investors were reducing their exposure to risk. The utilities and telecommunications industries bucked the downward trend. Both rose 0.4 percent. The rich dividends and stable earnings provided by those companies make them attractive to investors who want to play it safe.

The NYSE DOW closed LOWER ▼ -40.86 points or ▼ -0.28% Friday, 5 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,565.25 ▼ -40.86 ▼ -0.28%
Nasdaq____ 3,203.86 ▼ -21.12 ▼ -0.65%
S&P_500____ 1,553.28 ▼ -6.70 ▼ -0.43%
30_Yr_Bond____ 2.863 ▼ -0.12 ▼ -4.15%

NYSE Volume 3,903,620,000
Nasdaq Volume 1,613,814,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,249.78 ▼ -94.34 ▼ -1.49%
DAX_____ 7,658.75 ▼ -158.64 ▼ -2.03%
CAC_40__ 3,663.48 ▼ -62.68 ▼ -1.68%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,899.20 ▼ -20.10 ▼ -0.41%
Shanghai_Comp 2,225.29 ▼ -2.45 ▼ -0.11%
Taiwan_Weight 7,942.35 ▲ 29.17 ▲ 0.37%
Nikkei_225____ 12,833.64 ▲ 199.10 ▲ 1.58%
Hang_Seng____ 21,726.90 ▲ 53.93 ▼ -2.73%
Strait_Times___ 3,299.78 ▼ -8.02 ▼ -0.24%
NZX_50_Index__ 4,432.97 ▲ 2.81 ▲ 0.06%

http://sg.finance.yahoo.com/news/stocks-end-lower-disappointing-jobs-205405558.html

Stocks end lower after disappointing jobs report

Stocks decline after US job growth slows in March; S&P 500 logs its worst week of the year

By Steve Rothwell, AP Markets Writer

Stocks fell on Wall Street Friday after the government reported a sharp slowdown in hiring last month that was far worse than economists had expected.

The Dow Jones industrial average ended 40.86 points lower at 14,565.25, a loss of 0.3 percent. The index was down as much as 171 points in the early going, then rose gradually through the rest of the day to reclaim much of its early loss.

U.S. employers added just 88,000 jobs in March, the Labor Department reported. That's half the average of the previous six months. The report was a disappointment for investors following positive signs on housing and the job market over the winter.

The survey, one of the most closely watched indicators of the economy, dented investors' confidence that the U.S. was poised for a sustained recovery. The stock market has surged this year, pushing the Dow to another record high close on Tuesday. The index is still up 11.2 percent this year.

"Things are still looking decent, but there's no doubt that this was a bit of a disappointment," said Brad Sorensen, Charles Schwab's director of market and sector research. "We're watching to see: is this the start of another soft patch?"

In other trading, the Standard & Poor's 500 index fell 6.70 points, or 0.4 percent, to 1,553.28. The index logged its worst week of year, falling 1 percent.

Technology stocks fell the most of the 10 industry groups in the index, dropping 1 percent. Among big decliners in tech stocks, Cisco Systems fell 43 cents, or 2 percent, to $20.61. Oracle dropped 34 cents, or 1 percent, to $32.03.

Investors were reducing their exposure to risk. The utilities and telecommunications industries bucked the downward trend. Both rose 0.4 percent. The rich dividends and stable earnings provided by those companies make them attractive to investors who want to play it safe.

Natural gas companies were among the best performers on the S&P 500 as the price of the fuel rose 4.5 percent on concerns about supplies. The price of the fuel has risen 21 percent since the start of the year. Cabot Oil & Gas climbed $3.32, or 5.1 percent, to $67.96 and WPX Energy gained 80 cents, or 5.2 percent, to $16.15.

Stocks pared their early losses as some investors inferred that slowing U.S. growth meant that the Federal Reserve would stick to its stimulus program. The central bank is buying $85 billion dollars in bonds every month as part of an effort to revive the economy. Its actions have been a big factor pushing the stock market higher this year.

Quincy Krosby, a market strategist at Prudential Financial, said the slowdown in hiring made it more likely that the Fed would continue with its easy-money policy, which includes keeping interest rates at historically low levels.

Investors will shift their focus to earnings reports next week.

Alcoa, the first company in the Dow index to report earnings, will release its first-quarter financial results after the markets close Monday. Analysts expect profits for S&P 500 companies to rise 0.6 percent in the first quarter compared with the same period a year earlier, according to S&P Capital IQ. That compares with an increase of 7.7 percent in the fourth quarter of 2012.

The yield on the 10-year Treasury note, which moves inversely to its price, plunged from 1.76 percent to 1.71 percent. The yield fell as low as 1.69 percent, the lowest since December. The benchmark rate has declined sharply over the last month, from 2.06 percent on March 11, as demand for low-risk assets increased amid mounting evidence that growth in the U.S. economy is slowing.

Matthew Coffina, an editor at Morningstar StockInvestor, said stocks are still a better investment than bonds over the next decade because bonds will be vulnerable to any rise in inflation or interest rates. "We still have a strong preference for stocks," Coffina said.

The Nasdaq composite, which includes many technology companies, fell 21.12 points, or 0.7 percent, to 3,203.86.

F5 Networks, a network equipment and service provider based in Seattle, plunged 19 percent, the most of any S&P stock, after slashing its profit and revenue forecast. The company said its contract bookings fell sharply, as did its business with the federal government. The stock lost $17.21, or 19 percent, to $73.21.

The Dow Jones Transportation Average, which includes airlines like United and Delta Airlines and shipping companies like UPS and FedEx, was down 3.5 percent for the week, its biggest weekly decline since September. The index is seen as a leading indicator of the broader market.

9188

 

[bigdog]

Source: http://finance.yahoo.com

Stocks ended modestly higher Monday, shrugging off an early decline, as investors waited to see whether big U.S. companies would deliver on expectations of strong earnings in 2013.

Alcoa became the first major U.S. company to report earnings late Monday, and the results were mostly good. Aluminum maker's income was higher than analysts were expecting, but its revenue fell slightly short of expectations. Later this week the pace picks up with reports from Bed Bath & Beyond, Wells Fargo and JPMorgan Chase.

A big factor driving the Standard & Poor's 500 up 9.6 percent this year has been optimism that it will be a good year for company profits. While the expectations for the first quarter are relatively modest, many investors are expecting to see more of a pickup in earnings later in the year.

"We need to see some earnings growth here to justify the big gains we've seen in the first quarter," said Ryan Detrick, a senior technical analyst at Schaeffer's Investment Research.

Earnings for companies in the S&P 500 index are expected to rise by 0.7 percent from the first quarter of last year, but that growth is expected to accelerate sharply to 13 percent in the final three-month period of the year, according to data from S&P Capital IQ.

On Monday the Dow Jones industrial average rose 48.23 points, or 0.3 percent, to close at 14,613.48. The index started the day lower and fell as much as 67 points during morning trading. Alcoa's gain of 1.8 percent was one of the biggest in the Dow. It rose 15 cents to $8.39. The stock was off seven cents in after-hours trading.

The S&P 500 index closed up 9.79 points, or 0.6 percent, at 1,563.07.

The Dow and S&P have struggled for direction over the past three weeks. The S&P 500 has alternated between gains and losses every day as investors take advantage of any weakness to add to their holdings.

The NYSE DOW closed HIGHER ▲ 48.23 points or ▲ 0.33% Monday, 8 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,613.48 ▲ 48.23 ▲ 0.33%
Nasdaq____ 3,222.25 ▲ 18.39 ▲ 0.57%
S&P_500____ 1,563.07 ▲ 9.79 ▲ 0.63%
30_Yr_Bond____ 2.903 ▲ 0.04 ▲ 1.40%

NYSE Volume 3,184,260,250
Nasdaq Volume 1,325,433,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,276.94 ▲ 27.16 ▲ 0.43%
DAX_____ 7,662.64 ▲ 3.89 ▲ 0.05%
CAC_40__ 3,666.78 ▲ 3.30 ▲ 0.09%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,912.70 ▲ 13.50 ▲ 0.28%
Shanghai_Comp 2,211.59 ▼ -13.70 ▼ -0.62%
Taiwan_Weight 7,752.79 ▼ -189.56 ▼ -2.39%
Nikkei_225____ 13,192.59 ▲ 358.95 ▲ 2.80%
Hang_Seng____ 21,718.05 ▲ 53.93 ▼ -0.04%
Strait_Times___ 3,284.61 ▼ -15.17 ▼ -0.46%
NZX_50_Index__ 4,397.20 ▼ -35.77 ▼ -0.81%

http://finance.yahoo.com/news/stocks-rise-ahead-earnings-season-211118548.html

Stocks rise ahead of earnings season

Stocks rise ahead of earnings season; Lufkin soars on GE bid

By Steve Rothwell, AP Markets Writer

Stocks ended modestly higher Monday, shrugging off an early decline, as investors waited to see whether big U.S. companies would deliver on expectations of strong earnings in 2013.

Alcoa became the first major U.S. company to report earnings late Monday, and the results were mostly good. Aluminum maker's income was higher than analysts were expecting, but its revenue fell slightly short of expectations. Later this week the pace picks up with reports from Bed Bath & Beyond, Wells Fargo and JPMorgan Chase.

A big factor driving the Standard & Poor's 500 up 9.6 percent this year has been optimism that it will be a good year for company profits. While the expectations for the first quarter are relatively modest, many investors are expecting to see more of a pickup in earnings later in the year.

"We need to see some earnings growth here to justify the big gains we've seen in the first quarter," said Ryan Detrick, a senior technical analyst at Schaeffer's Investment Research.

Earnings for companies in the S&P 500 index are expected to rise by 0.7 percent from the first quarter of last year, but that growth is expected to accelerate sharply to 13 percent in the final three-month period of the year, according to data from S&P Capital IQ.

On Monday the Dow Jones industrial average rose 48.23 points, or 0.3 percent, to close at 14,613.48. The index started the day lower and fell as much as 67 points during morning trading. Alcoa's gain of 1.8 percent was one of the biggest in the Dow. It rose 15 cents to $8.39. The stock was off seven cents in after-hours trading.

The S&P 500 index closed up 9.79 points, or 0.6 percent, at 1,563.07.

The Dow and S&P have struggled for direction over the past three weeks. The S&P 500 has alternated between gains and losses every day as investors take advantage of any weakness to add to their holdings.

Telecommunications stocks fell 0.5 percent and health care stocks inched up just 0.2 percent, lagging the rest of the market. The two industry groups have performed well this year as investors sought out less risky stocks that pay good dividends. Health care companies are up almost 16 percent, making them the best performers in the S&P 500.

Lufkin Industries, an oilfield equipment maker, surged $24.03, or 38 percent, to $87.96 after General Electric Co. agreed to buy the company for $3 billion. GE wants to bolster its oil and gas operations. Its stock rose 19 cents, or 0.8 percent, to $23.12.

Johnson & Johnson logged the biggest percentage decline on the 30-member Dow Jones industrial average, dropping 93 cents to $81.11. Analysts at JPMorgan cut their rating on the stock to "neutral," saying it has risen too far, too fast. Johnson & Johnson is up 16 percent this year.

Stocks fell Friday after the government reported a slowdown in hiring that was far worse than economists had expected. The report capped a bad week: The S&P 500 logged its biggest weekly decline of the year as signs emerged that U.S. growth is starting to cool.

In other trading, the Nasdaq composite index rose 18.39 points, or 0.6 percent, to 3,222.25.

The yield on the 10-year Treasury rose to 1.75 percent from 1.71 percent late Friday. It went as 1.69 percent Friday, its lowest level of the year. The benchmark rate has fallen from a recent high of 2.06 percent reached March 11 as demand for low-risk assets increases.

 

[bigdog]

Source: http://finance.yahoo.com

Materials and energy companies led the stock market higher Tuesday, sending the Dow Jones industrial average to its second all-time high in a week.

The Dow closed at 14,673.46, a gain of 59.98 points, or 0.4 percent. The Standard & Poor's 500 index also rose 0.4 percent, closing less than two points below its own all-time high set April 2.

The prices of metals like copper, gold and silver have rebounded this week after slumping for the first three months of the year on waning demand. Oil is also rising following a sharp decline last week.

"You're seeing some pretty decent action in the overall market, with today's leadership coming from the basic materials sector," said Robert Pavlik, chief market strategist at Banyan Partners. "It's an area of the market that does represent some value because it's underperformed."

The rise in basic materials such as precious metals was caused by a weakening of the dollar against other currencies, HSBC analyst Howard Wen said. Commodities are typically priced in dollars and a decline in the currency allows overseas buyers to purchase materials at lower prices.

Materials companies were the biggest gainers of the 10 industry groups in the S&P 500, rising 1.1 percent. Energy companies posted the second best return, increasing 0.8 percent. Those two groups have been among the weakest in the market this year.

On Tuesday the S&P 500 rose 5.54 points to 1,568.61. The index closed at a record high of 1,570.25 on April 2. The Nasdaq composite gained 15.61 points, or 0.5 percent, to 3,237.86.

The gains suggested that the Dow and S&P 500 may be poised to break out of a trading pattern they've followed for the last three weeks.

Stocks have mostly moved sideways since the middle of March. The Dow has alternated between small gains and losses after starting the year on a tear. Signs of slowing growth and concerns about the outlook for Europe had checked investors' confidence.

The NYSE DOW closed HIGHER ▲ 59.98 points or ▲ 0.41% Tuesday, 9 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,673.46 ▲ 59.98 ▲ 0.41%
Nasdaq____ 3,237.86 ▲ 15.61 ▲ 0.48%
S&P_500____ 1,568.61 ▲ 5.54 ▲ 0.35%
30_Yr_Bond____ 2.932 ▲ 0.03 ▲ 1.00%

NYSE Volume 3,554,755,750
Nasdaq Volume 1,505,878,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,313.21 ▲ 36.27 ▲ 0.58%
DAX_____ 7,637.51 ▼ -25.13 ▼ -0.33%
CAC_40__ 3,670.72 ▲ 3.94 ▲ 0.11%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,980.20 ▲ 67.50 ▲ 1.37%
Shanghai_Comp 2,225.77 ▲ 14.18 ▲ 0.64%
Taiwan_Weight 7,728.54 ▼ -24.25 ▼ -0.31%
Nikkei_225____ 13,192.35 ▼ -0.24 ▲ 0.00%
Hang_Seng____ 21,870.34 ▲ 53.93 ▲ 0.70%
Strait_Times___ 3,296.57 ▲ 11.96 ▲ 0.36%
NZX_50_Index__ 4,395.21 ▼ -2.00 ▼ -0.05%

http://finance.yahoo.com/news/dow-j...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

Dow Jones average closes at another record high

Stocks of basic material companies rise along with surging commodities prices; Dow hits record

By Steve Rothwell, AP Markets Writer

Materials and energy companies led the stock market higher Tuesday, sending the Dow Jones industrial average to its second all-time high in a week.

The Dow closed at 14,673.46, a gain of 59.98 points, or 0.4 percent. The Standard & Poor's 500 index also rose 0.4 percent, closing less than two points below its own all-time high set April 2.

The prices of metals like copper, gold and silver have rebounded this week after slumping for the first three months of the year on waning demand. Oil is also rising following a sharp decline last week.

"You're seeing some pretty decent action in the overall market, with today's leadership coming from the basic materials sector," said Robert Pavlik, chief market strategist at Banyan Partners. "It's an area of the market that does represent some value because it's underperformed."

The rise in basic materials such as precious metals was caused by a weakening of the dollar against other currencies, HSBC analyst Howard Wen said. Commodities are typically priced in dollars and a decline in the currency allows overseas buyers to purchase materials at lower prices.

Materials companies were the biggest gainers of the 10 industry groups in the S&P 500, rising 1.1 percent. Energy companies posted the second best return, increasing 0.8 percent. Those two groups have been among the weakest in the market this year.

On Tuesday the S&P 500 rose 5.54 points to 1,568.61. The index closed at a record high of 1,570.25 on April 2. The Nasdaq composite gained 15.61 points, or 0.5 percent, to 3,237.86.

The gains suggested that the Dow and S&P 500 may be poised to break out of a trading pattern they've followed for the last three weeks.

Stocks have mostly moved sideways since the middle of March. The Dow has alternated between small gains and losses after starting the year on a tear. Signs of slowing growth and concerns about the outlook for Europe had checked investors' confidence.

As companies report results this week, investors will be looking to see whether they are feeling any impact from government spending cuts that kicked in recently, said Jim Russell, investment director at U.S. Bank. They will also want to know what effect there will might from the ongoing debt crisis in Europe.

"The market is looking for companies to fill in those blanks," said Russell.

Alcoa, traditionally the first company in the Dow to report results, was flat at $8.39 after the company posted its earnings late Monday. Online auto retailer CarMax, home goods retailer Bed Bath & Beyond and the banks Wells Fargo and JPMorgan Chase report later this week.

On Tuesday, Cliff's Natural Resources, an iron ore mining company, rose $1.66, or 8.8 percent, to $20.45. The company's stock is still down 47 percent this year. Freeport-McMoRan Copper & Gold, another mining company, was up $1.34, or 4.1 percent, at $33.76.

First Solar soared after the solar panel maker issued a better-than-expected forecast for its 2013 results and solid predictions for the following two years, helped by continued growth in shipments. The stock price rose $12.31, or 46 percent, to $39.35.

Small company stocks lagged the market. The Russell 2000 index two points, or 0.2 percent, to 929.34. The index has slumped this month after rising 12 percent in the first quarter and performing better than both the Dow and S&P 500.

While stocks are struggling to extend their gains from the start of the year, bonds have rallied.

The yield on the 10-year Treasury note was unchanged at 1.75 percent Tuesday. However, the benchmark rate has fallen from a high of 2.06 percent reached March 11 as demand for low-risk assets increases.

 

[bigdog]

Source: http://finance.yahoo.com
Technology stocks roared back Wednesday, driving the Standard & Poor's 500 and Dow Jones industrial average to record highs.

The industry has lagged the broader market this year, but surged after network communication company Adtran reported earnings that were double what Wall Street analysts expected. That boosted optimism that businesses will increase spending on technology equipment.

Chipmakers Micron and Intel jumped, as did other network equipment makers like Cisco and JDS Uniphase. Stocks were also up on an optimistic reading of the Federal Reserve Bank's latest minutes.

Technology stocks rose 1.8 percent, the most of the 10 industry groups in the S&P. That's a big change from tech's weak performance this year. The group is up just 4.7 percent, trailing the S&P's gain of 11.3 percent.

"Tech has performed so poorly, it's oversold and warrants some interest here," said Scott Wren, a senior equity strategist at Wells Fargo Advisors. "If the economy continues to improve there is going to be some capital spending."

The stock market is reversing course from last week, when investors' confidence fell because of an unexpectedly poor report on the U.S. job market and other signs that the economy slowed in March.

The Dow Jones industrial average jumped 128.78 points, or 0.9 percent, to 14,802.24. It was the third straight gain for the blue-chip index and its biggest one-day rise in a month. The Dow surged in the first three months of the year and is still up 13 percent in 2013.

The Nasdaq composite, which is heavily weighted with technology stocks, had the biggest percentage gain of the three main indexes Wednesday, rising 59.39 points, or 1.8 percent, to 3,297.25 The S&P rose 19.12 points, or 1.2 percent, to 1,587.73.

Investors are seeing positive news in the minutes from the Federal Reserve's latest meeting, which were released Wednesday. The minutes revealed that policy makers are becoming more confident that the U.S. economy can grow without the help of the bank's stimulus program, said Brian Gendreau, a market strategist at Cetera Financial Group.

The NYSE DOW closed HIGHER ▲ 0.01 points or ▲ #REF! Wednesday, 10 April 2013
Symbol …........Last ......Change.....
Dow_Jones 12,780.95 ▲ 97.33 ▲ 0.01
Nasdaq___ 2,915.83 ▲ 0.00 ▲ 0.00%
S&P_500__ 1,343.23 ▲ 7.27 ▲ 0.54%
30_Yr_Bond 3.093 ▲ 0.00 ▲ 0.00%

NYSE Volume 4,088,140
Nasdaq Volume 2,056,358

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,853.80 ▲ 38.36 ▲ 0.65%
DAX_____ 6,680.83 ▲ 77.11 ▲ 1.14%
CAC_40__ 3,362.56 ▲ 27.79 ▲ 0.82%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,257.20 ▲ 70.20 ▲ 1.62%
Shanghai_Comp 2,356.86 ▲ 9.84 ▲ 0.42%
Taiwan_Weight 7,869.70 ▲ 135.54 ▲ 1.69%
Nikkei_225____ 9,238.10 ▲ 22.24 ▲ 0.24%
Hang_Seng____ 21,277.28 ▲ 87.95 ▲ 0.41%
Strait_Times___ 2,977.20 ▲ 34.48 ▲ 1.14%


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

Stocks rise sharply, led by gains in technology

Stock market closes at record high, led by technology; Dow gains 128, the most in a month

By Steve Rothwell, AP Markets Writer

Technology stocks roared back Wednesday, driving the Standard & Poor's 500 and Dow Jones industrial average to record highs.

The industry has lagged the broader market this year, but surged after network communication company Adtran reported earnings that were double what Wall Street analysts expected. That boosted optimism that businesses will increase spending on technology equipment.

Chipmakers Micron and Intel jumped, as did other network equipment makers like Cisco and JDS Uniphase. Stocks were also up on an optimistic reading of the Federal Reserve Bank's latest minutes.

Technology stocks rose 1.8 percent, the most of the 10 industry groups in the S&P. That's a big change from tech's weak performance this year. The group is up just 4.7 percent, trailing the S&P's gain of 11.3 percent.

"Tech has performed so poorly, it's oversold and warrants some interest here," said Scott Wren, a senior equity strategist at Wells Fargo Advisors. "If the economy continues to improve there is going to be some capital spending."

The stock market is reversing course from last week, when investors' confidence fell because of an unexpectedly poor report on the U.S. job market and other signs that the economy slowed in March.

The Dow Jones industrial average jumped 128.78 points, or 0.9 percent, to 14,802.24. It was the third straight gain for the blue-chip index and its biggest one-day rise in a month. The Dow surged in the first three months of the year and is still up 13 percent in 2013.

The Nasdaq composite, which is heavily weighted with technology stocks, had the biggest percentage gain of the three main indexes Wednesday, rising 59.39 points, or 1.8 percent, to 3,297.25 The S&P rose 19.12 points, or 1.2 percent, to 1,587.73.

Investors are seeing positive news in the minutes from the Federal Reserve's latest meeting, which were released Wednesday. The minutes revealed that policy makers are becoming more confident that the U.S. economy can grow without the help of the bank's stimulus program, said Brian Gendreau, a market strategist at Cetera Financial Group.

Many Fed members indicated they want to slow and eventually end the central bank's bond-buying program before the end of the year, as long as the job market and economy show sustained improvement. The $85 billion in monthly bond purchases has kept interest rates extremely low, with the goal of encouraging borrowing and spending.

"The idea that the Fed thinks that we are closer to the restoration of normality might be positive for the market," said Gendreau.

Among stocks making big moves, Facebook rose 98 cents, or 3.7 percent, to $27.57 after General Motors said it would start running ads on the social network site. Adtran rose $2.75, or 14 percent, to $22.46, and JDS Uniphase rose 64 cents, or 4.8 percent, to $13.98.

Hospital stocks fell heavily after Deutsche Bank lowered its recommendation on the companies because their prices have risen so much that they no longer offer good value. Private hospitals have surged over the past year in anticipation that health care spending will increase following the introduction of Obama's health care plan.

Health Management Associates plunged $2.06, or 16 percent, to $10.53. Tenet Healthcare fell $2.38, or 5.5 percent, to $41.14 and Community Health Systems dropped $1.65, or 3.8 percent, to $42.26.

Bond yields fell as investors moved money out of safe U.S. government debt and into riskier assets. The yield on the 10-year Treasury note rose to 1.81 percent from 1.75 percent late Tuesday.

 

[bigdog]

Source: http://finance.yahoo.com

Rite Aid, Ross Stores and other retailers surged Thursday after turning in better sales, and major stock market indexes rose for a fourth day straight.

The discount chain Ross Stores jumped 6 percent, the best gain in the Standard & Poor's 500 index. The company said stronger sales in March will likely push profits above its previous estimate this quarter. The stock jumped $3.56 to $63.80.

A surprising drop in claims for unemployment benefits last week gave investors more encouragement. Analysts said it could mean a slowdown in hiring last month may have been temporary.

"The numbers today make it seem like that March report was an anomaly," said David Heidl, a regional investment manager at U.S. Bank's wealth management unit. "It's another reason for optimism."

The Dow Jones industrial average gained 62.90 points to close at 14,865.14, an increase of 0.4 percent. The Standard & Poor's 500 index rose 5.64 points, also 0.4 percent, to 1,593.37.

Rite Aid soared 18 percent to $2.12 after the drugstore chain said higher sales of generic drugs and lower costs helped it post better earnings than analysts had expected.

The tech-heavy Nasdaq composite index rose 2.90 points to 3,300.16. That's just 0.09 percent, far behind the Dow and S&P 500. Of the 10 industry groups in the S&P 500, information technology was the only one to fall.

The NYSE DOW closed HIGHER ▲ 97.33 points or ▲ 0.76% Thursday, 11 April 2013
Symbol …........Last ......Change.....
Dow_Jones 12,780.95 ▲ 97.33 ▲ 0.76%
Nasdaq___ 2,915.83 ▲ 0.00 ▲ 0.00%
S&P_500__ 1,343.23 ▲ 7.27 ▲ 0.54%
30_Yr_Bond 3.093 ▲ 0.00 ▲ 0.00%

NYSE Volume 4,088,140
Nasdaq Volume 2,056,358

Europe
Symbol... .....Last ….....Change.......
FTSE_100 5,853.80 ▲ 38.36 ▲ 0.65%
DAX_____ 6,680.83 ▲ 77.11 ▲ 1.14%
CAC_40__ 3,362.56 ▲ 27.79 ▲ 0.82%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,257.20 ▲ 70.20 ▲ 1.62%
Shanghai_Comp 2,356.86 ▲ 9.84 ▲ 0.42%
Taiwan_Weight 7,869.70 ▲ 135.54 ▲ 1.69%
Nikkei_225____ 9,238.10 ▲ 22.24 ▲ 0.24%
Hang_Seng____ 21,277.28 ▲ 87.95 ▲ 0.41%
Strait_Times___ 2,977.20 ▲ 34.48 ▲ 1.14%

http://finance.yahoo.com/news/stocks-rise-fourth-day-row-201213088.html

Stocks rise for fourth day in a row, led by retail

A fourth straight gain for major indexes on Wall Street, led by retailers; technology slumps

By Matthew Craft, AP Business Writer

Rite Aid, Ross Stores and other retailers surged Thursday after turning in better sales, and major stock market indexes rose for a fourth day straight.

The discount chain Ross Stores jumped 6 percent, the best gain in the Standard & Poor's 500 index. The company said stronger sales in March will likely push profits above its previous estimate this quarter. The stock jumped $3.56 to $63.80.

A surprising drop in claims for unemployment benefits last week gave investors more encouragement. Analysts said it could mean a slowdown in hiring last month may have been temporary.

"The numbers today make it seem like that March report was an anomaly," said David Heidl, a regional investment manager at U.S. Bank's wealth management unit. "It's another reason for optimism."

The Dow Jones industrial average gained 62.90 points to close at 14,865.14, an increase of 0.4 percent. The Standard & Poor's 500 index rose 5.64 points, also 0.4 percent, to 1,593.37.

Rite Aid soared 18 percent to $2.12 after the drugstore chain said higher sales of generic drugs and lower costs helped it post better earnings than analysts had expected.

Makers of computer hardware and software sank following a report that first-quarter shipments of PCs dropped 14 percent worldwide over the past year. That's the steepest fall since International Data Corp. started tracking the industry in 1994.

"The IDC report is much worse than anyone expected," said David Brown, director of Sabrient Systems, an investment research firm. "That's obviously shaking up the tech sector, but everything else is resuming the climb."

The three companies in the Dow that deal in PCs held the index back. Hewlett-Packard dropped 6 percent to $20.88, Microsoft lost 4 percent to $28.93 and Intel fell 2 percent to $21.82. Without them, the Dow would have gained 25 more points.

The tech-heavy Nasdaq composite index rose 2.90 points to 3,300.16. That's just 0.09 percent, far behind the Dow and S&P 500. Of the 10 industry groups in the S&P 500, information technology was the only one to fall.

It was a different story on Wednesday, when technology stocks surged on optimism that businesses would step up spending on computer systems. That pushed the Dow and the S&P 500 index to their third straight day of gains as well as record highs.

The stock market has soared this year, clearing record highs and recovering losses from the financial crisis and Great Recession. For the year, the Dow is up 13 percent, the S&P 500 index 12 percent.

Brown thinks the market can keep climbing. Measured against earnings, the stock market doesn't look expensive, he said. And compared to the alternatives, like bonds or money-market funds, stocks in many big corporations offer a better source of income. The average stock in the S&P 500 pays 2.2 percent in dividends.

By comparison, the yield on the benchmark 10-year Treasury note was 1.79 percent Thursday, down slightly from 1.80 percent late Wednesday.

 

[CanOz]

That S&P figure is not the main index, the value is wrong. Must be a sector....1300?

 

[bigdog]

That S&P figure is not the main index, the value is wrong. Must be a sector....1300?

Thanks CanOz for advising me; my Excel sheet got really screwed up today
-- just about all data was wrong

My apologies and should have reported below

The NYSE DOW closed HIGHER ▲ 62.90 points or ▲ 0.42% Thursday, 11 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,865.14 ▲ 62.90 ▲ 0.42%
Nasdaq___ 3,300.16 ▲ 2.91 ▲ 0.09%
S&P_500__ 1,593.37 ▲ 5.64 ▲ 0.36%
30_Yr_Bond 2.998 ▼ -0.01 ▼ -0.23%

NYSE Volume 3,682,254
Nasdaq Volume 1,835,539

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,416.14 ▲ 28.77 ▲ 0.45%
DAX_____ 7,871.63 ▲ 61.00 ▲ 0.78%
CAC_40__ 3,775.66 ▲ 31.95 ▲ 0.85%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5,010.30 ▲ 36.60 ▲ 0.74%
Shanghai_Comp 2,219.55 ▼ -6.57 ▼ -0.30%
Taiwan_Weight 7,857.98 ▲ 105.18 ▲ 1.36%
Nikkei_225____ 13,549.16 ▲ 261.03 ▲ 1.96%
Hang_Seng____ 22,101.27 ▲ 66.71 ▲ 0.30%
Strait_Times___ 3,308.80 ▲ 15.55 ▲ 0.47%
NZX_50_Index__ 4,409.54 ▼ -10.52 ▼ -0.24%

 

[CanOz]

No worries, didn't mean for the reply to be short Big Dog, i had just woke up and was on the my tablet. If i miss the news on the radio i always check our thread...very handy, Thanks for the great work!

Its appreciated!

CanOz

 

[bigdog]

Source: http://finance.yahoo.com

A four-day surge in the stock market came to an end on Friday as falling commodity prices brought down energy and mining companies.

Signs of a slowing economy rattled commodity markets. The price of crude oil dropped 2 percent to $91 a barrel as weak U.S. economic reports followed forecasts for weaker oil demand.

Gold plunged $64 to $1,501 an ounce, reaching its lowest level since July 2011. Prices for other metals including silver and copper also fell sharply.

One trigger for the latest fall was a government report that U.S. wholesale prices declined the most in 10 months in March. Traders tend to sell metals when inflation wanes. They also pushed gold prices lower on reports that Cyprus may sell some of its gold reserves, possibly leading other weak European countries like Italy and Spain to do the same.

Compared to commodities markets, the stock market looked stable. The Dow Jones industrial average dropped just 0.08 of a point to close at 14,865.05. The Standard & Poor's 500 lost 4.52 points, or 0.3 percent, to 1,588.85.

The two major indexes finished the week with strong gains: The Dow rose 2.1 percent, the S&P 500 rose 2.3 percent. The Nasdaq composite dropped 5.21 points to 3,289, a fall of 0.2 percent.

David Joy, the chief market strategist for Ameriprise Financial, said it's as if the stock market is telling a different story from the bond and commodity markets. Copper and other industrial metals slid along with gold on Friday, while Treasury yields sank near their lows for the year. He said both imply traders in those markets are more worried about a slowdown.

"It gives me pause," Joy said. "Commodities and bonds are telling stock investors: don't be in such a hurry to say the U.S. economy is in great shape."

The sharp drop in gold futures tugged down mining companies. Barrick Gold lost 8 percent to $22.62, Newmont Mining fell 6 percent to $36.37 and Freeport-McMoRan 3 percent to $31.92.

The NYSE DOW closed HIGHER ▲ -0.08 points or ▲ 0.00% Friday, 12 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,865.06 ▼ -0.08 ▲ 0.00%
Nasdaq___ 3,294.95 ▼ -5.21 ▼ -0.16%
S&P_500__ 1,588.85 ▼ -4.52 ▼ -0.28%
30_Yr_Bond 2.918 ▼ -0.08 ▼ -2.67%

NYSE Volume 3,560,801,250
Nasdaq Volume 1,494,516,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,384.39 ▼ -31.75 ▼ -0.49%
DAX_____ 7,744.77 ▼ -126.86 ▼ -1.61%
CAC_40__ 3,729.30 ▼ -46.36 ▼ -1.23%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5,016.00 ▲ 5.70 ▲ 0.11%
Shanghai_Comp 2,206.78 ▼ -12.77 ▼ -0.58%
Taiwan_Weight 7,821.63 ▼ -36.35 ▼ -0.46%
Nikkei_225____ 13,485.14 ▼ -64.02 ▼ -0.47%
Hang_Seng____ 22,089.05 ▼ -12.22 ▼ -0.06%
Strait_Times___ 3,294.19 ▼ -14.61 ▼ -0.44%
NZX_50_Index__ 4,435.77 ▲ 26.23 ▲ 0.59%

http://finance.yahoo.com/news/stock...YzBGxhbmcDZW4tVVMEdGVzdANUZXN0X0FGQw--;_ylv=3

Stocks end a four-day advance as energy slides

Indexes fall on Wall Street after a four-day rise; energy stocks sink along with crude oil

By Matthew Craft, AP Business Writer

A four-day surge in the stock market came to an end on Friday as falling commodity prices brought down energy and mining companies.

Signs of a slowing economy rattled commodity markets. The price of crude oil dropped 2 percent to $91 a barrel as weak U.S. economic reports followed forecasts for weaker oil demand.

Gold plunged $64 to $1,501 an ounce, reaching its lowest level since July 2011. Prices for other metals including silver and copper also fell sharply.

One trigger for the latest fall was a government report that U.S. wholesale prices declined the most in 10 months in March. Traders tend to sell metals when inflation wanes. They also pushed gold prices lower on reports that Cyprus may sell some of its gold reserves, possibly leading other weak European countries like Italy and Spain to do the same.

Compared to commodities markets, the stock market looked stable. The Dow Jones industrial average dropped just 0.08 of a point to close at 14,865.05. The Standard & Poor's 500 lost 4.52 points, or 0.3 percent, to 1,588.85.

The two major indexes finished the week with strong gains: The Dow rose 2.1 percent, the S&P 500 rose 2.3 percent.

David Joy, the chief market strategist for Ameriprise Financial, said it's as if the stock market is telling a different story from the bond and commodity markets. Copper and other industrial metals slid along with gold on Friday, while Treasury yields sank near their lows for the year. He said both imply traders in those markets are more worried about a slowdown.

"It gives me pause," Joy said. "Commodities and bonds are telling stock investors: don't be in such a hurry to say the U.S. economy is in great shape."

The sharp drop in gold futures tugged down mining companies. Barrick Gold lost 8 percent to $22.62, Newmont Mining fell 6 percent to $36.37 and Freeport-McMoRan 3 percent to $31.92.

Materials and energy stocks fell the most of the 10 industry groups in the S&P 500, 1.5 percent and 1.3 percent.

The Nasdaq composite dropped 5.21 points to 3,289, a fall of 0.2 percent.

A handful of reports out Friday heightened concerns about the economy's health. Sales at U.S. retailers fell in March and companies restocked their shelves at a much slower pace in February than in the month before. That's usually a sign that companies expect weaker spending from consumers and businesses. A measure of consumer sentiment from the University of Michigan also slumped.

The stock market has held up well despite a string of recent weak economic reports. That resilience has "left a lot of investors scratching their heads," said Lawrence Creatura, a fund manager at Federated Investors.

This earnings season will likely determine which direction the market takes, Creatura said. Next week, when Bank of America, Google and other big names turn in their quarterly results, could make the difference.

Wells Fargo reported stronger quarterly profits on Friday but its revenue fell short of Wall Street's forecasts. The bank's stock lost 1 percent to $37.21.

The weaker economic reports pushed traders into the safety of Treasurys, sending yield near their lows for the year. The yield on the 10-year Treasury note dropped to 1.72 percent from 1.79 percent late Thursday. That's close to its low point of the year, 1.69 percent, reached April 5.

Investors in the U.S stock market seem to be in the habit of brushing off worrying news this year, Creatura said. Recent threats from North Korea, for instance, have rattled South Korean markets, but any concerns about a war between the two countries have yet to shake any in the U.S.

South Korea may be the seventh-largest trading partner of the U.S., but most investors see North Korea's bellicose talk as more bluff, Creatura said. Everything could change, however, if war looked likely.

"We're following the situation," he said. "It's part of our job. But just because there hasn't been a reaction so far doesn't mean we'll overlook really bad news."

Among other companies making moves Friday:

”” M&T Bank lost 4 percent to $100.24. The bank said it had to delay its merger with Hudson City Bancorp after the Federal Reserve flagged the bank's compliance with money-laundering rules. Hudson City fell 6 percent to $8.29.

”” Evertec gained 2 percent in its first day as a publicly traded company. The payment processer raised more than $500 million in its initial public offering, with its shares priced at $20. Evertec's stock rose 44 cents to $20.44.

9620

 

[bigdog]

Source: http://finance.yahoo.com

A steep fall in commodity prices led the stock market to its worst day this year on Monday, as worries about the global economy resurfaced.

The Dow Jones industrial average dropped 265 points, its biggest loss in five months.

The first trigger came from China. News that the world's second-largest economy slowed unexpectedly pummeled oil, copper and other commodities. In the stock market, companies that produce oil and mine for metals fared the worst. A slowdown in China, a huge importer of basic materials like copper, would stymie profits at those companies.

"The weak data out of China is spooking a lot of investors," said Dan Greenhaus, chief global strategist at the brokerage BTIG.

Oil prices hit their lowest level since mid-December, and gold plunged below $1,400 an ounce for the first time in two years as a sell-off in metals continued from last week. Concerns that Cyprus and other troubled European countries may sell gold to raise cash have also weighed on prices for precious metals, Greenhaus said.

The Dow lost 265.86 points to close at 14,599.20, a drop of 1.8 percent. Caterpillar, a maker of heavy equipment used by miners, led the Dow lower, falling 3 percent to $82.27. The Standard & Poor's 500 index slumped 36.48 points to 1,552.37, a loss of 2.3 percent.

It was the biggest drop for the stock market since Nov. 7 ”” Election Day ”” last year.

China's economy expanded 7.7 percent in the first three months of the year, well below forecasts of 8 percent or better. That news pummeled copper, oil and other commodities. Crude oil slid $2.58 to finish at $88.71 in New York trading

The plunge in commodity prices hit mining and energy stocks. Cliffs Natural Resources lost 8 percent to $17.61. Freeport-McMoRan Copper & Gold fell 8 percent to $29.27, the worst drop in the S&P 500. Analysts at Citigroup placed a "sell" rating on the mining giant on the expectation that copper prices will continue sliding.

Of the 10 industry groups in the S&P 500, materials and energy stocks fared the worst, losing 4 percent. Indexes of small companies and transportation stocks, which are more vulnerable to swings in the economy, also fell 4 percent.

The Nasdaq composite fell 78.46 points, or 2.4 percent, to 3,216.49.

Gold prices dropped $140 to $1,361 an ounce, a 9 percent fall. Gold has now slumped $203 an ounce over the past two days.

The NYSE DOW closed LOWER ▼ -265.86 points or ▼ -1.79% Monday, 15 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,599.20 ▼ -265.86 ▼ -1.79%
Nasdaq___ 3,216.49 ▼ -78.46 ▼ -2.38%
S&P_500__ 1,552.36 ▼ -36.49 ▼ -2.30%
30_Yr_Bond 2.882 ▼ -0.04 ▼ -1.23%

NYSE Volume 5,276,216,000
Nasdaq Volume 1,786,892,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,343.60 ▼ -40.79 ▼ -0.64%
DAX_____ 7,712.63 ▼ -32.14 ▼ -0.41%
CAC_40__ 3,710.48 ▼ -18.82 ▼ -0.50%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,966.80 ▼ -49.20 ▼ -0.98%
Shanghai_Comp 2,181.94 ▼ -24.84 ▼ -1.13%
Taiwan_Weight 7,763.53 ▼ -58.10 ▼ -0.74%
Nikkei_225____ 13,275.66 ▼ -209.48 ▼ -1.55%
Hang_Seng____ 21,772.67 ▼ -316.38 ▼ -1.43%
Strait_Times___ 3,284.37 ▼ -9.82 ▼ -0.30%
NZX_50_Index__ 4,454.71 ▲ 18.94 ▲ 0.43%

Stock market takes biggest drop this year

Dow Jones industrial average has its worst day this year as oil, other commodities plunge

By Matthew Craft, AP Business Writer

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

A steep fall in commodity prices led the stock market to its worst day this year on Monday, as worries about the global economy resurfaced.

The Dow Jones industrial average dropped 265 points, its biggest loss in five months.

The first trigger came from China. News that the world's second-largest economy slowed unexpectedly pummeled oil, copper and other commodities. In the stock market, companies that produce oil and mine for metals fared the worst. A slowdown in China, a huge importer of basic materials like copper, would stymie profits at those companies.

"The weak data out of China is spooking a lot of investors," said Dan Greenhaus, chief global strategist at the brokerage BTIG.

Oil prices hit their lowest level since mid-December, and gold plunged below $1,400 an ounce for the first time in two years as a sell-off in metals continued from last week. Concerns that Cyprus and other troubled European countries may sell gold to raise cash have also weighed on prices for precious metals, Greenhaus said.

The Dow lost 265.86 points to close at 14,599.20, a drop of 1.8 percent. Caterpillar, a maker of heavy equipment used by miners, led the Dow lower, falling 3 percent to $82.27. The Standard & Poor's 500 index slumped 36.48 points to 1,552.37, a loss of 2.3 percent.

It was the biggest drop for the stock market since Nov. 7 ”” Election Day ”” last year.

China's economy expanded 7.7 percent in the first three months of the year, well below forecasts of 8 percent or better. That news pummeled copper, oil and other commodities. Crude oil slid $2.58 to finish at $88.71 in New York trading

The plunge in commodity prices hit mining and energy stocks. Cliffs Natural Resources lost 8 percent to $17.61. Freeport-McMoRan Copper & Gold fell 8 percent to $29.27, the worst drop in the S&P 500. Analysts at Citigroup placed a "sell" rating on the mining giant on the expectation that copper prices will continue sliding.

Of the 10 industry groups in the S&P 500, materials and energy stocks fared the worst, losing 4 percent. Indexes of small companies and transportation stocks, which are more vulnerable to swings in the economy, also fell 4 percent.

The Nasdaq composite fell 78.46 points, or 2.4 percent, to 3,216.49.

Gold prices dropped $140 to $1,361 an ounce, a 9 percent fall. Gold has now slumped $203 an ounce over the past two days.

Frank Fantozzi, CEO of Planned Financial Services, a wealth management firm, says people had bought gold since the financial crisis on the belief it was safe place to keep money. But now that the metal has slid 20 percent this year, they're jumping out.

"I think you're getting some panic selling right now" in the gold market, said Fantozzi. "People who have been holding on to gold expecting a rebound are now thinking, 'I better get out.'"

Cetin Ciner, a finance professor and expert in precious metal markets at the University of North Carolina, Wilmington, said others bought gold as a protection against rampant inflation when the economy recovered. They helped push gold prices as high at $1,900 in 2011. But the high inflation they worried about still hasn't hit.

Gold "was bound to collapse at some stage," Ciner said. "People were waiting and waiting for higher inflation, and they finally realized it's not happening."

Just seven stock rose in the S&P 500 on Monday. Among them, Citigroup inched up 9 cents to $45.87, after the country's third-largest bank reported earnings that beat analysts' estimates. Stronger revenue from trading and investment banking lifted the bank's results.

Sprint Nextel jumped after Dish Network offered $25 billion to buy the company. Dish's bid is aimed at beating an offer from the Japanese phone company SoftBank. Sprint surged 14 percent to $7.06, and Dish fell 2 percent to $36.77.

Thermo Fisher Scientific offered $13.6 billion to buy genetic testing equipment maker Life Technologies. That works out to $76 in cash for each share of Life Technologies. Thermo Fisher's stock fell 1 percent to $78.58, while Life Technologies rose 7 percent to $73.11.

In the market for U.S. government bonds, the yield on the 10-year Treasury note retreated to 1.69 percent, its lowest level of the year. That's down from 1.72 percent late Friday.

The last time the 10-year yield hit 1.69 percent was April 5, when the government reported that U.S. employers hired far fewer workers than expected in March.

People buy U.S. government bonds when they're concerned about the economy.

 

[bigdog]

Source: http://finance.yahoo.com

Strong housing and earnings reports helped stocks rebound from their worst day of the year.

The Dow Jones industrial average rose 157.58 points, or 1.1 percent, on Tuesday, to 14,756.78, winning back more than half of the 265 points it lost a day earlier. The Standard & Poor's 500 index logged its second-best day of the year.

Home construction topped 1 million last month, the highest level since June 2008. Robust earnings from companies including Coca-Cola also propelled the market higher.

A recovery in housing and a pickup in hiring were major catalysts driving the stock market's surge early this year. The Dow and the S&P 500 jumped 11.3 percent and 10.3 percent, respectively, in the first three months of 2013.

That run-up was interrupted Monday when stocks had their biggest decline since November. Worries about an economic slowdown in China led to a drop in prices for oil, copper, and other commodities, causing mining and energy stocks to fall. The rally had already slowed earlier this month after reports of weak hiring and retail sales suggested that the economy was cooling off.

"This is the first time in a while that we've had pretty positive numbers," said JJ Kinahan, chief derivatives strategist for TD Ameritrade. "We had one bad day yesterday. You can't say because of that one bad day that all bets are off."

While Chinese growth fell short of expectations, Monday's sell-off may have been disproportionate to the slight slowdown in China's growth.

The world's second biggest economy still expanded at a rate of 7.7 percent in the first three months of the year, slowing from 7.9 percent the previous quarter and missing analysts' expectations by just 0.3 percentage points. China is watched closely because it is a major market for foreign goods from iron ore to smartphones. Investors hope demand from China can help offset weakness in the U.S., Europe and Japan.

Mining companies rose Tuesday as commodities markets stabilized and materials stocks gained the most of the 10 industry groups in the S&P 500 after leading the market lower the day before. Home builders advanced following the housing report. PulteGroup rose 4.2 percent to $18.60 and Lennar climbed 2.4 percent to $38.70.

The S&P 500 climbed 22.2 points, or 1.4 percent, to 1,574.57. It was the biggest gain since Jan. 2, when stocks rallied after lawmakers reached a last-minute deal to stop a series of sweeping tax hikes and spending cuts from taking effect.

Gold, which was at the epicenter of Monday's sell-off, rose 1.9 percent to $1,387.40 an ounce.

The NYSE DOW closed HIGHER ▲ 157.58 points or ▲ 1.08% Tuesday, 16 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,756.78 ▲ 157.58 ▲ 1.08%
Nasdaq___ 3,264.63 ▲ 48.14 ▲ 1.50%
S&P_500__ 1,574.57 ▲ 22.21 ▲ 1.43%
30_Yr_Bond 2.903 ▲ 0.02 ▲ 0.73%

NYSE Volume 4,068,788,500
Nasdaq Volume 1,520,542,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,304.58 ▼ -39.02 ▼ -0.62%
DAX_____ 7,682.58 ▼ -30.05 ▼ -0.39%
CAC_40__ 3,685.79 ▼ -24.69 ▼ -0.67%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,944.10 ▼ -22.70 ▼ -0.46%
Shanghai_Comp 2,194.85 ▲ 12.90 ▲ 0.59%
Taiwan_Weight 7,801.05 ▲ 37.52 ▲ 0.48%
Nikkei_225____ 13,221.44 ▼ -54.22 ▼ -0.41%
Hang_Seng____ 21,672.03 ▼ -100.64 ▼ -0.46%
Strait_Times___ 3,291.58 ▲ 7.21 ▲ 0.22%
NZX_50_Index__ 4,427.84 ▼ -26.87 ▼ -0.60%



http://finance.yahoo.com/news/stock-market-rebounds-worst-day-145107484.html

Stock market rebounds from worst day of the year

Wall Street rebounds from its biggest drop of the year on housing, earnings; S&P 500 surges

By Steve Rothwell, AP Markets Writer

Strong housing and earnings reports helped stocks rebound from their worst day of the year.

The Dow Jones industrial average rose 157.58 points, or 1.1 percent, on Tuesday, to 14,756.78, winning back more than half of the 265 points it lost a day earlier. The Standard & Poor's 500 index logged its second-best day of the year.

Home construction topped 1 million last month, the highest level since June 2008. Robust earnings from companies including Coca-Cola also propelled the market higher.

A recovery in housing and a pickup in hiring were major catalysts driving the stock market's surge early this year. The Dow and the S&P 500 jumped 11.3 percent and 10.3 percent, respectively, in the first three months of 2013.

That run-up was interrupted Monday when stocks had their biggest decline since November. Worries about an economic slowdown in China led to a drop in prices for oil, copper, and other commodities, causing mining and energy stocks to fall. The rally had already slowed earlier this month after reports of weak hiring and retail sales suggested that the economy was cooling off.

"This is the first time in a while that we've had pretty positive numbers," said JJ Kinahan, chief derivatives strategist for TD Ameritrade. "We had one bad day yesterday. You can't say because of that one bad day that all bets are off."

While Chinese growth fell short of expectations, Monday's sell-off may have been disproportionate to the slight slowdown in China's growth.

The world's second biggest economy still expanded at a rate of 7.7 percent in the first three months of the year, slowing from 7.9 percent the previous quarter and missing analysts' expectations by just 0.3 percentage points. China is watched closely because it is a major market for foreign goods from iron ore to smartphones. Investors hope demand from China can help offset weakness in the U.S., Europe and Japan.

Mining companies rose Tuesday as commodities markets stabilized and materials stocks gained the most of the 10 industry groups in the S&P 500 after leading the market lower the day before. Home builders advanced following the housing report. PulteGroup rose 4.2 percent to $18.60 and Lennar climbed 2.4 percent to $38.70.

The S&P 500 climbed 22.2 points, or 1.4 percent, to 1,574.57. It was the biggest gain since Jan. 2, when stocks rallied after lawmakers reached a last-minute deal to stop a series of sweeping tax hikes and spending cuts from taking effect.

Gold, which was at the epicenter of Monday's sell-off, rose 1.9 percent to $1,387.40 an ounce.

The precious metal logged its steepest fall in 30 years Monday, plunging 9 percent. Gold had been drifting lower since the start of the year and the decline accelerated Friday after the government reported a drop in inflation. People often buy gold when they're fearful of rising prices and sell it when they see inflation ebbing.

Gold is down 27 percent since it climbed to a record in August 2011, when lawmakers wrangled over raising the debt ceiling and threatened to push the U.S. into default.

Investors should expect a more volatile stock market until there is more confirmation that the economy is strengthening and the outlook for companies is improving, said Jeff Morris, head of U.S. equities at Standard Life Investment.

"Until we get evidence of more robust conditions in the second half we're going to be in more of a sideways market," said Morris. "You saw a fairly dramatic move yesterday; that's indicative of a market that's not quite sure of which direction to go."

While the Dow is up this month, the pace of gains is slowing and the index is on track to log its weakest month of the year. The Dow has risen 1.2 percent in the first two weeks of April, compared to an average monthly gain of 3.6 percent in the first quarter.

Small company stocks rose more than the broader market Tuesday, a sign that investors are moving money into riskier assets. The Russell 2000 index climbed or 1.8 percent to 922.30. That's a reversal from the day before, when the index plunged 3.8 percent.

In other trading, the Nasdaq composite rose 48.14 points, or 1.5 percent, to 3,264.63.

Yields on U.S. government bonds rose as investors moved money out of safe-haven investments. The yield on the benchmark 10-year Treasury note climbed to 1.72 percent from 1.68 percent.

Among stocks that made big moves:

Coca-Cola gained $2.28, or 5.7 percent, to $42.37 after its first-quarter results came in above Wall Street's forecasts. Coke said it struck a deal to start refranchising its business in the U.S., which will lower costs.

W.W. Grainger Inc., which sells power tools and other industrial equipment, rose $16.18, or 16.2 percent, to $241.88 after the company said its first-quarter net income climbed 13 percent.

U.S. Bancorp logged the biggest decline in the S&P 500. The lender dropped 59 cents, or 1.8 percent, to $32.72 after it reported first-quarter earnings that fell short of analysts' expectations. The Minneapolis bank's net income rose 7 percent to $1.43 billion as it set aside less cash to cover soured loans.

Whirlpool Corp. jumped $3.66 to $116.78 after the appliance maker raised its quarterly dividend 25 percent to 62.5 cents.

 

[bigdog]

Source: http://finance.yahoo.com

As evidence of a slowing global economy grows, investors are showing some caution just one week after U.S. stocks hit an all-time high.

Stocks fell after lackluster earnings from Bank of America and an apparent drop in demand for Apple's iPod and iPhone dragged financial and technology stocks lower. New signs of weakness in Europe, where car sales are plunging and unemployment is rising, also weighed on the market.

On Monday, stocks sank after China reported economic growth that was slower than economists had expected. Metals, energy and other commodities have been hit hard this week and that has dragged down the stocks of miners and drillers and companies that provide services to them. Gold fell the most in 30 years.

The Dow Jones Industrial average fell 138 points, or 0.9 percent, to 14,618.59 Wednesday, wiping out most of the gain it made Tuesday. The Dow, which reached an all-time high of 14,865 last Thursday, is down 1.7 percent this week after slumping 265 points on Monday.

The Standard & Poor's 500 index dropped 22 points, or 1.4 percent, to 1,553 and is 2.2 percent lower since the opening bell on Monday. The S&P is 2.5 percent below its all-time high of 1,593.

Energy companies and miners fell as commodity prices extended their declines.

The price of crude oil dropped for the fourth day in five, falling 2.3 percent to $86.68 per barrel, based on expectations that global demand will fall. Copper fell to an 18-month low of $3.19 a pound.

As stock prices sank, investors sought the safety of bonds. The yield on the 10-year Treasury note, which moves inversely to its price, fell to 1.70 percent from 1.73 percent. It went as low as 1.68 percent, matching its lowest level of the year.

Despite the big drops this week, the Dow is still 11.6 percent higher this year, the S&P 500 index 8.8 percent. And while falling energy prices may hurt energy stocks now, in the long run they should put more money into the pockets of consumers and drive spending.

Stocks surged during the first three months of the year on optimism that a recovery in the housing market would boost the economy. But the stock market has struggled this month. Reports of weak hiring and retail sales suggested the economy may be cooling off.

The NYSE DOW closed LOWER ▼ -138.19 points or ▼ -0.94% Wednesday, 17 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,618.59 ▼ -138.19 ▼ -0.94%
Nasdaq___ 3,204.67 ▼ -59.96 ▼ -1.84%
S&P_500__ 1,552.01 ▼ -22.56 ▼ -1.43%
30_Yr_Bond 2.886 ▼ -0.02 ▼ -0.59%

NYSE Volume 4,808,744,500
Nasdaq Volume 1,911,748,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,244.21 ▼ -60.37 ▼ -0.96%
DAX_____ 7,503.03 ▼ -179.55 ▼ -2.34%
CAC_40__ 3,599.23 ▼ -86.56 ▼ -2.35%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,993.60 ▲ 49.50 ▲ 1.00%
Shanghai_Comp 2,193.80 ▼ -1.05 ▼ -0.05%
Taiwan_Weight 7,809.07 ▲ 8.02 ▲ 0.10%
Nikkei_225____ 13,382.89 ▲ 161.45 ▲ 1.22%
Hang_Seng____ 21,569.67 ▼ -102.36 ▼ -0.47%
Strait_Times___ 3,291.51 ▼ -0.07 ▲ 0.00%
NZX_50_Index__ 4,478.27 ▲ 50.43 ▲ 1.14%

http://finance.yahoo.com/news/stocks-fall-signs-slowing-global-194841257.html

Stocks fall on signs of slowing global economy

Investors turn cautious just one week after the stock market hit an all-time high, Dow off 138

By Steve Rothwell, AP Markets Writer

As evidence of a slowing global economy grows, investors are showing some caution just one week after U.S. stocks hit an all-time high.

Stocks fell after lackluster earnings from Bank of America and an apparent drop in demand for Apple's iPod and iPhone dragged financial and technology stocks lower. New signs of weakness in Europe, where car sales are plunging and unemployment is rising, also weighed on the market.

On Monday, stocks sank after China reported economic growth that was slower than economists had expected. Metals, energy and other commodities have been hit hard this week and that has dragged down the stocks of miners and drillers and companies that provide services to them. Gold fell the most in 30 years.

The Dow Jones Industrial average fell 138 points, or 0.9 percent, to 14,618.59 Wednesday, wiping out most of the gain it made Tuesday. The Dow, which reached an all-time high of 14,865 last Thursday, is down 1.7 percent this week after slumping 265 points on Monday.

The Standard & Poor's 500 index dropped 22 points, or 1.4 percent, to 1,553 and is 2.2 percent lower since the opening bell on Monday. The S&P is 2.5 percent below its all-time high of 1,593.

Energy companies and miners fell as commodity prices extended their declines.

The price of crude oil dropped for the fourth day in five, falling 2.3 percent to $86.68 per barrel, based on expectations that global demand will fall. Copper fell to an 18-month low of $3.19 a pound.

As stock prices sank, investors sought the safety of bonds. The yield on the 10-year Treasury note, which moves inversely to its price, fell to 1.70 percent from 1.73 percent. It went as low as 1.68 percent, matching its lowest level of the year.

Despite the big drops this week, the Dow is still 11.6 percent higher this year, the S&P 500 index 8.8 percent. And while falling energy prices may hurt energy stocks now, in the long run they should put more money into the pockets of consumers and drive spending.

Stocks surged during the first three months of the year on optimism that a recovery in the housing market would boost the economy. But the stock market has struggled this month. Reports of weak hiring and retail sales suggested the economy may be cooling off.

"You've had numerous economic data points that have been, not really disastrous, but not really as robust as people might like," said Cam Albright, director of asset allocation at Wilmington Trust Investment Advisors. "When you have a market as extended as this, you almost need perfect information to make it continue to go up."

Reports this week have added to a picture of slowing global growth.

New car sales in Europe fell 10 percent in the first quarter, the European automakers association said Wednesday, as high unemployment saps demand for big purchases. Britain said Wednesday that unemployment rose to 7.9 percent during the three months ending in February, an increase of 0.2 percent from the previous three months.

On Tuesday, the International Monetary Fund lowered its outlook for global growth this year to 3.3 percent from 3.5 percent, saying government spending cuts will slow the U.S. and European economies. And on Monday China said its economic growth slowed in the first three months of the year to 7.7 percent, below the 8 percent level anticipated by markets.

Bank of America fell 4.7 percent to $11.70, leading a broad decline in financial stocks, after reporting a first quarter profit of $2.3 billion that fell short of analysts' expectations.

Technology stocks also fell sharply, led by Apple. The Nasdaq composite index fell 59.96 points, or 1.8 percent, to 3,204. Apple, which makes up 8 percent of the index, slumped 5.5 percent to $402.80, after a supplier hinted at a slowdown in iPhone and iPad production.

Corporate earnings for the first quarter suggest that growth has been slow and steady, rather than robust as investors had hoped, said Kevin Mahn, president of Hennion and Walsh Asset Management. Consumers and businesses are still reluctant to ratchet up spending.

"We're moving ahead, but begrudgingly and very slowly," said Mahn, "I don't think that the plow horse is going to start stepping backwards but it certainly doesn't have the capacity to start speeding up, at least right now."

Analysts expect first-quarter earnings to rise by 1.6 percent, compared with growth of 7.7 percent in the fourth quarter, according to data from S&P Capital IQ. So far, 56 companies have reported earnings this year and 35 have beaten expectations.

Stocks stayed lower Wednesday even after the Federal Reserve reported that a strengthening housing recovery and robust auto sales contributed to moderate economic growth across the United States in late February and March.

Among other stocks making big moves, Textron, a maker of small aircraft, plunged $3.94, or 14 percent, to $25.41 after the company cut its outlook for business jet deliveries. Fairway climbed 34 percent to $17.35 on its stock market debut, even after the grocery store chain priced its initial public offering above expectations.

Gold edged lower Wednesday, falling $4.70, or 0.3 percent, to $1,382.70 an ounce. The metal has stabilized after dropping $140 an ounce, or 9 percent, on Monday.

 

[bigdog]

Source: http://finance.yahoo.com

Disappointing earnings from a range of companies pushed the stock market lower on Thursday, giving major indexes their third loss this week.

The stock prices of Morgan Stanley, UnitedHealth Group and others sank after they turned in weaker quarterly results. Prices of commodities held steady following a wild couple of days. Government bond yields remained near their lowest point of the year as investors sought safety.

The Standard & Poor's 500 index lost 10.40 points to close at 1,541.61, a decline of 0.7 percent.

Compared with the steep drops earlier this week, the losses on Thursday looked tame. The S&P 500 lost 2 percent on Monday, its worst day of the year, when a slowdown in China's economic growth set off a rout in prices for gold, oil and other commodities and pummeled the stocks of companies that make them. After reaching a record high a week ago, the index has now slumped 3 percent.

One reason behind the market's sudden turn might simply be that investors wanted to take some of their winnings off the table, said Joseph Tanious, global market strategist at J.P. Morgan Funds. At the start of April, the S&P 500 was already up 10 percent for 2013, more than investors can expect to get in most years.

"For a while there, it seemed like all the headlines were 'stock market hits all-time high,'" Tanious said. "When they see things like that, investors get nervous and look for reasons to sell."

Analysts have set a low bar for first-quarter earnings. They predict that companies in the S&P 500 will report that earnings climbed just 1.5 percent in the first quarter compared with the same period a year ago, a slowdown from the 7.7 percent growth in the fourth quarter, according to S&P Capital IQ.

So far, companies are easily topping the estimates of Wall Street analysts. Of the 61 companies that turned in results through Wednesday, 39 of them have exceeded forecasts.

The Dow Jones industrial average fell 81.45 points to 14,537.14, down 0.6 percent. The Nasdaq composite lost 38.31 points to 3,166.36, down 1.2 percent.

In the market for U.S. government bonds, Treasury prices rose and their yields fell as traders moved money into low-risk assets. The yield on the 10-year Treasury note slipped back to 1.68 percent, matching its lowest level of the year. The yield was 1.70 percent late Wednesday.

The NYSE DOW closed LOWER ▼ -81.45 points or ▼ -0.56% Thursday, 18 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,537.14 ▼ -81.45 ▼ -0.56%
Nasdaq___ 3,166.36 ▼ -38.31 ▼ -1.20%
S&P_500__ 1,541.61 ▼ -10.40 ▼ -0.67%
30_Yr_Bond 2.864 ▼ -0.02 ▼ -0.76%

NYSE Volume 4,382,134,000
Nasdaq Volume 1,771,593,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,243.67 ▼ -0.54 ▼ -0.01%
DAX_____ 7,473.73 ▼ -29.30 ▼ -0.39%
CAC_40__ 3,599.36 ▲ 0.13 ▲ 0.00%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,911.30 ▼ -82.30 ▼ -1.65%
Shanghai_Comp 2,197.60 ▲ 3.81 ▲ 0.17%
Taiwan_Weight 7,791.35 ▼ -17.72 ▼ -0.23%
Nikkei_225____ 13,220.07 ▼ -162.82 ▼ -1.22%
Hang_Seng____ 21,512.52 ▼ -57.15 ▼ -0.26%
Strait_Times___ 3,295.94 ▲ 4.48 ▲ 0.14%
NZX_50_Index__ 4,442.10 ▼ -36.16 ▼ -0.81%

http://finance.yahoo.com/news/stock-market-slips-weak-earnings-210838789.html

Stock market slips on weak earnings

Stock indexes slip for third day this week; UnitedHealth, eBay lower after earnings

By Matthew Craft, AP Business Writer

Disappointing earnings from a range of companies pushed the stock market lower on Thursday, giving major indexes their third loss this week.

The stock prices of Morgan Stanley, UnitedHealth Group and others sank after they turned in weaker quarterly results. Prices of commodities held steady following a wild couple of days. Government bond yields remained near their lowest point of the year as investors sought safety.

The Standard & Poor's 500 index lost 10.40 points to close at 1,541.61, a decline of 0.7 percent.

Compared with the steep drops earlier this week, the losses on Thursday looked tame. The S&P 500 lost 2 percent on Monday, its worst day of the year, when a slowdown in China's economic growth set off a rout in prices for gold, oil and other commodities and pummeled the stocks of companies that make them. After reaching a record high a week ago, the index has now slumped 3 percent.

One reason behind the market's sudden turn might simply be that investors wanted to take some of their winnings off the table, said Joseph Tanious, global market strategist at J.P. Morgan Funds. At the start of April, the S&P 500 was already up 10 percent for 2013, more than investors can expect to get in most years.

"For a while there, it seemed like all the headlines were 'stock market hits all-time high,'" Tanious said. "When they see things like that, investors get nervous and look for reasons to sell."

Profit slipped at Morgan Stanley as the bank made less money from trading bonds and commodities, a common theme for many investment banks this earnings season. Morgan Stanley lost 5 percent to $20.31.

UnitedHealth's profit fell short of analysts' estimates, and the country's largest health insurer said it expects federal budget cuts to pressure its earnings this year. Its stock lost 4 percent to $59.69.

EBay fell 6 percent to $52.82 after the online auction company cut its profit forecast for this quarter.

The market didn't get any help from economic news Thursday. Investors pointed to reports that more people applied for unemployment benefits last week and manufacturing slowed in the mid-Atlantic region. Those reports followed several recent signs of weakness in the economy, including a sharp slowdown in hiring last month and poor retail sales.

The market's drop was tempered by better profits at Verizon, Pepsi and Union Pacific. Verizon Communications' profit beat analysts' predictions as wireless revenue kept rising at a rate of 9 percent, the envy of the industry. Pepsi net income and revenue also surpassed estimates.

Verizon's stock gained 3 percent to $50.91, while Pepsi's climbed 3 percent to $81.25.

Higher shipping rates pushed Union Pacific's profit up 11 percent, and the railroad said it expects to ship more goods later this year. Union Pacific rose 4 percent to $142.46.

Analysts have set a low bar for first-quarter earnings. They predict that companies in the S&P 500 will report that earnings climbed just 1.5 percent in the first quarter compared with the same period a year ago, a slowdown from the 7.7 percent growth in the fourth quarter, according to S&P Capital IQ.

So far, companies are easily topping the estimates of Wall Street analysts. Of the 61 companies that turned in results through Wednesday, 39 of them have exceeded forecasts.

The Dow Jones industrial average fell 81.45 points to 14,537.14, down 0.6 percent. The Nasdaq composite lost 38.31 points to 3,166.36, down 1.2 percent.

In the market for U.S. government bonds, Treasury prices rose and their yields fell as traders moved money into low-risk assets. The yield on the 10-year Treasury note slipped back to 1.68 percent, matching its lowest level of the year. The yield was 1.70 percent late Wednesday.

Commodities prices held steady following sharp falls earlier this week. Crude oil rose $1.05 to $87.73 a barrel and gold edged up $9.80 to $1,392.50 an ounce.

Crude had lost $10 a barrel over the past two weeks as the outlook for the global economy weakened and oil supplies remained high. On Monday, Gold fell 9 percent, its biggest plunge in 30 years, as inflation in the U.S. remained weak.

"Earnings are always important," said Randy Frederick, managing director of active trading and derivatives at the brokerage Charles Schwab. "But this week they've taken a back seat to all the other headlines, like slower growth in China, the sharp sell-off in gold and then the bombing in Boston."

For the week, the Dow is down 2.2 percent and the S&P 500 is down 2.9 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Strong earnings from a pair of technology giants helped the stock market recover some of its losses Friday, a positive end to Wall Street's worst week in five months.

Microsoft and Google both beat earnings expectations, yields of government bonds ticked up and copper ”” a key industrial metal ”” continued its fall, losing 2 percent.

Microsoft gained 3 percent to $29.77, leading the Dow Jones industrial average higher. The software giant reported earnings late Thursday that beat analysts' forecasts and showed solid results from its Office, software tools and Xbox divisions.

Google's stock climbed 3 percent to $799.87. The leader in Internet search boosted prices for ads distributed to smartphones and tablet computers.

The Standard & Poor's 500 index rose 13.64 points to 1,555.25, an increase of 0.9 percent. The Dow rose 10.37 points to 14,547.51, a gain of 0.1 percent. The Dow spent most of the day down, pulled lower by disappointing results from IBM.

Traders, like everyone else, were following the news out of Boston, where police were hunting for one of two brothers suspected to be behind Monday's Boston Marathon bombings. One brother was killed in a gun battle with police overnight. But the news had no impact on markets, traders said.

Friday's slight gains couldn't overcome a tough week for the market, when both the S&P 500 and the Dow lost 2.1 percent. That's their biggest weekly drop since last November.

"Compared to the rest of the week, it looks like we're going to slide into the weekend on a quiet note," said Jim Baird, Partner and Chief Investment Officer for Plante Moran Financial Advisors

By many measures, the financial markets have endured a rough five days. News that economic growth had slowed in China set off a plunge in commodity prices on Monday, leading the stock market to its worst day of the year. Gold dropped below $1,400 an ounce for the first time in two years.

The stock market bounced back the next day, then fell again on Wednesday, its third worst day this year.

The NYSE DOW closed HIGHER ▲ 10.37 points or ▲ 0.07% Friday, 19 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,547.51 ▲ 10.37 ▲ 0.07%
Nasdaq___ 3,206.06 ▲ 39.70 ▲ 1.25%
S&P_500__ 1,555.25 ▲ 13.64 ▲ 0.88%
30_Yr_Bond 2.882 ▲ 0.02 ▲ 0.63%

NYSE Volume 3,908,988,500
Nasdaq Volume 1,753,877,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,286.59 ▲ 42.92 ▲ 0.69%
DAX_____ 7,459.96 ▼ -13.77 ▼ -0.18%
CAC_40__ 3,651.96 ▲ 52.60 ▲ 1.46%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,923.00 ▲ 11.70 ▲ 0.24%
Shanghai_Comp 2,244.64 ▲ 47.04 ▲ 2.14%
Taiwan_Weight 7,930.80 ▲ 139.45 ▲ 1.79%
Nikkei_225____ 13,316.48 ▲ 96.41 ▲ 0.73%
Hang_Seng____ 22,013.57 ▲ 501.05 ▲ 2.33%
Strait_Times___ 3,294.05 ▼ -2.32 ▼ -0.07%
NZX_50_Index__ 4,444.50 ▲ 2.40 ▲ 0.05%

http://finance.yahoo.com/news/stocks-recover-slightly-ending-tough-211439760.html

Stocks recover slightly, ending tough week

Stock indexes end worst week in 5 months with gains; Microsoft leads Dow Jones average up

By Matthew Craft, AP Business Writer

Strong earnings from a pair of technology giants helped the stock market recover some of its losses Friday, a positive end to Wall Street's worst week in five months.

Microsoft and Google both beat earnings expectations, yields of government bonds ticked up and copper ”” a key industrial metal ”” continued its fall, losing 2 percent.

Microsoft gained 3 percent to $29.77, leading the Dow Jones industrial average higher. The software giant reported earnings late Thursday that beat analysts' forecasts and showed solid results from its Office, software tools and Xbox divisions.

Google's stock climbed 3 percent to $799.87. The leader in Internet search boosted prices for ads distributed to smartphones and tablet computers.

The Standard & Poor's 500 index rose 13.64 points to 1,555.25, an increase of 0.9 percent. The Dow rose 10.37 points to 14,547.51, a gain of 0.1 percent. The Dow spent most of the day down, pulled lower by disappointing results from IBM.

Traders, like everyone else, were following the news out of Boston, where police were hunting for one of two brothers suspected to be behind Monday's Boston Marathon bombings. One brother was killed in a gun battle with police overnight. But the news had no impact on markets, traders said.

Friday's slight gains couldn't overcome a tough week for the market, when both the S&P 500 and the Dow lost 2.1 percent. That's their biggest weekly drop since last November.

"Compared to the rest of the week, it looks like we're going to slide into the weekend on a quiet note," said Jim Baird, Partner and Chief Investment Officer for Plante Moran Financial Advisors

By many measures, the financial markets have endured a rough five days. News that economic growth had slowed in China set off a plunge in commodity prices on Monday, leading the stock market to its worst day of the year. Gold dropped below $1,400 an ounce for the first time in two years.

The stock market bounced back the next day, then fell again on Wednesday, its third worst day this year.

Most big corporations have managed to beat analysts' low expectations for first-quarter profits. Of the 104 companies that turned in results through Friday morning, 70 have trumped forecasts, according to S&P Capital IQ.

Analysts estimate that earnings for companies in the S&P 500 inched up just 2 percent over the previous year, a slowdown from the 7.7 percent rise in the fourth quarter of 2012.

Next week marks another big week for earnings as 10 members of the Dow and 181 companies in the S&P 500 report results.

On Friday, IBM fell 8 percent to an even $190. Quarterly earnings for the country's largest provider of computer services fell short of forecasts for the first time since 2005. IBM said delays in closing several large software and mainframe computer deals hindered sales.

Chipotle Mexican Grill surged 12 percent to $366.25, the best gain in the S&P 500. Chipotle's results easily topped Wall Street expectations late Thursday as the burrito-maker said new restaurants drove sales higher.

The Nasdaq composite index gained 39.69 points to 3,206.06, up 1.3 percent.

In the market for U.S. government bonds, Treasury prices slipped, nudging yields up from their lowest levels of the year. The yield on the 10-year Treasury note inched up to 1.70 percent from 1.68 percent late Thursday.

Traders cautiously returned to buying certain key commodities on Friday, including gold and oil, after big sell-offs earlier this week. But copper continued its fall, losing 2 percent to $3.16 per pound.

Rex Macey, the chief investment officer at the Wilmington Trust Investment Advisors, said markets are bound to encounter turbulence as long as the economy continues to advance at a slow pace. Forecasts say the U.S. economy will expand 2 percent this year. In practice, Macey said, that means there will be times when the economy looks ready to stall and others when it looks ready to steam ahead.

"You'll hear that Europe's in trouble again and we'll get a pullback in the market," Macey said. "Then you'll go through periods when we're off to the races again. I say, 'Get used to it.'"

Even after a rough week, Macey and others said the basic storyline for investors hasn't changed. The economy and corporate profits are still headed in the right direction. And as long as that's true, the stock market will follow their lead.

"We're going to have a stronger 2013 than 2012," said Joseph Tanious, the global market strategist at J.P. Morgan Funds. "But the recovery is going to be much more bumpy than people thought."

Among other companies making big moves:

”” SeaWorld Entertainment soared in its first day of trading as a public company. The theme park operator raised $702 million in its initial public offering, with the bulk of the money going to the Blackstone Group, the private equity firm that still controls the company. SeaWorld's stock jumped 24 percent to $33.52, up from its IPO price of $27.

”” Dell sank 4 percent to $13.40 following news that the Blackstone Group withdrew its bid to buy the computer maker. That left Dell with two remaining bidders: a group led by Michael Dell, the company's founder and CEO, and Carl Icahn, the well-known investor.

9988

 

[bigdog]

Source: http://finance.yahoo.com

Investors remained cautious at the start of a big week for company earnings on Wall Street.

About a third of the companies in the Standard & Poor's 500 index, including Exxon Mobil and Apple, are reporting earnings this week. Analysts currently expect earnings to rise by 2 percent in the first quarter, down from the 7.7 percent increase in the fourth quarter, according to S&P Capital IQ.

While the majority of companies that have reported earnings so far have beaten investors' expectations, concerns remain about the outlook for revenues for the rest of the year. Earnings forecast may need to be revised lower if the global economy doesn't improve.

"Most of the companies seem to be coming in ahead of earnings expectations, but the thing that's still problematic is the revenue line," said Bill Stone, chief investment strategist at PNC Wealth Management. "To me it's just symptomatic of the global economy continuing to sputter along."

On Monday, the Dow Jones industrial average edged higher as energy stocks got a lift from recovering oil prices and investors focused on results from a key industry player.

The energy industry climbed 1 percent, making it the biggest gainer in the Standard & Poor's 500 index. Oil rose 75 cents, or 0.9 percent, to $88.76 a barrel Monday. A week ago, crude fell below $90 a barrel for the first time this year after reports that China's economic growth slowed.

Oil services company Halliburton also gained after its loss wasn't as bad as analysts had forecast. Halliburton rose $1.75 to $38.96 after it said that it lost $18 million in the first quarter, pulled down by $637 million in charges related to its role in the 2010 Gulf of Mexico oil spill.

Netflix surged 23 percent to $214.19 in after-hours trading after the company reported that it added 2 million U.S. subscribers to its video streaming service during the first three months of the year. Netflix took a gamble by adding original programming to its service including the critically acclaimed series "House of Cards" in February.

The Dow rose 19.66 points, or 0.1 percent, to 14,567.17. The Standard & Poor's 500 index closed up 7.25 points, or 0.5 percent, higher at 1,562.50.

The stock market was coming off its biggest weekly drop since November. Last week the S&P 500 and the Dow each lost 2.1 percent, paring their advances after a strong start to the year.

The NYSE DOW closed HIGHER ▲ 19.66 points or ▲ 0.14% Monday, 22 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,567.17 ▲ 19.66 ▲ 0.14%
Nasdaq___ 3,233.55 ▲ 27.49 ▲ 0.86%
S&P_500__ 1,562.50 ▲ 7.25 ▲ 0.47%
30_Yr_Bond 2.880 ▼ 0.00 ▼ -0.07%

NYSE Volume 3,304,266,250
Nasdaq Volume 1,632,054,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,280.62 ▼ -5.97 ▼ -0.09%
DAX_____ 7,478.11 ▲ 18.15 ▲ 0.24%
CAC_40__ 3,652.13 ▲ 0.17 ▲ 0.00%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 4,955.40 ▲ 32.40 ▲ 0.66%
Shanghai_Comp 2,242.17 ▼ -2.47 ▼ -0.11%
Taiwan_Weight 7,970.38 ▲ 39.58 ▲ 0.50%
Nikkei_225____ 13,568.37 ▲ 251.89 ▲ 1.89%
Hang_Seng____ 22,044.37 ▲ 30.80 ▲ 0.14%
Strait_Times___ 3,307.13 ▲ 13.08 ▲ 0.40%
NZX_50_Index__ 4,483.66 ▲ 39.16 ▲ 0.88%

http://finance.yahoo.com/news/stocks-edge-higher-energy-stocks-194808304.html

Stocks edge higher as energy stocks rebound

Dow and S&P 500 edge higher as energy stocks rebound; investors wait on earnings

By Steve Rothwell, AP Markets Writer

Investors remained cautious at the start of a big week for company earnings on Wall Street.

About a third of the companies in the Standard & Poor's 500 index, including Exxon Mobil and Apple, are reporting earnings this week. Analysts currently expect earnings to rise by 2 percent in the first quarter, down from the 7.7 percent increase in the fourth quarter, according to S&P Capital IQ.

While the majority of companies that have reported earnings so far have beaten investors' expectations, concerns remain about the outlook for revenues for the rest of the year. Earnings forecast may need to be revised lower if the global economy doesn't improve.

"Most of the companies seem to be coming in ahead of earnings expectations, but the thing that's still problematic is the revenue line," said Bill Stone, chief investment strategist at PNC Wealth Management. "To me it's just symptomatic of the global economy continuing to sputter along."

On Monday, the Dow Jones industrial average edged higher as energy stocks got a lift from recovering oil prices and investors focused on results from a key industry player.

The energy industry climbed 1 percent, making it the biggest gainer in the Standard & Poor's 500 index. Oil rose 75 cents, or 0.9 percent, to $88.76 a barrel Monday. A week ago, crude fell below $90 a barrel for the first time this year after reports that China's economic growth slowed.

Oil services company Halliburton also gained after its loss wasn't as bad as analysts had forecast. Halliburton rose $1.75 to $38.96 after it said that it lost $18 million in the first quarter, pulled down by $637 million in charges related to its role in the 2010 Gulf of Mexico oil spill.

Netflix surged 23 percent to $214.19 in after-hours trading after the company reported that it added 2 million U.S. subscribers to its video streaming service during the first three months of the year. Netflix took a gamble by adding original programming to its service including the critically acclaimed series "House of Cards" in February.

The Dow rose 19.66 points, or 0.1 percent, to 14,567.17. The Standard & Poor's 500 index closed up 7.25 points, or 0.5 percent, higher at 1,562.50.

The stock market was coming off its biggest weekly drop since November. Last week the S&P 500 and the Dow each lost 2.1 percent, paring their advances after a strong start to the year.

The news that economic growth had slowed in China set off a plunge in commodity prices last Monday, leading the stock market to its worst day of the year. Gold dropped below $1,400 an ounce for the first time in two years.

Caterpillar rose $2.28, or 2.8 percent, to $82.71. The heavy equipment maker initially fell Monday after lowering its forecasts for full-year sales and profits because its mining business is slowing. The company also said it plans to resume buying back its own stock for the first since 2008 with a buyback of $1 billion.

Traders appear more likely to punish companies that miss expectations, rather than reward companies that beat them, Goldman Sachs said. According to the investment bank's research, while 63 percent of stocks that beat analysts' forecasts last week performed better than the overall market the next day, 73 percent of those that missed targets performed worse.

"If you look at this earnings season in general, it's been disappointing," said Ryan Detrick, a senior technical strategist at Schaeffer's Investment Research. "The outlook and the revenues are the big concern."

In other trading, the Nasdaq composite gained the most of the three major indexes, rising 27.50 points, or 0.9 percent, to 3,233.55. Apple, which reports its earnings after the market close on Tuesday, rose 2.1 percent, or $8.14, to $398.67. Apple is the biggest stock in the Nasdaq index with a 7.6 percent weighting.

In government bond trading, the yield on the 10-year Treasury note fell to 1.70 percent from 1.71 percent late Friday as traders shifted money into lower-risk assets.

Among other stocks making big moves:

General Electric fell 40 cents, or 1.8 percent, to $21.35 after JPMorgan cut its rating on the company to "neutral" from "overweight." The company's stock fell Friday following pessimistic comments from its CEO on the outlook for Europe and the company's core industrial operations.

Hasbro, the maker of Transformers and My Little Pony, rose $1.17, or 3.4 percent, to $46.55 even after it said that its first-quarter loss widened after heavy restructuring charges and foreign exchange rates flattened its international sales. The company's performance was still better than Wall Street had been expecting.

 

[bigdog]

Source: http://finance.yahoo.com

The Dow closed up 152.29 points at 14,719.46. The S&P 500 ended 16.28 points higher at 1,578.78. Both indexes are about 1 percent below their record highs.

The Nasdaq composite rose 35.78 points, or 1 percent, to 3,269.33.

Companies that do the best when the economy is improving led the market higher Tuesday after several of them reported strong quarterly earnings.

Coach, a maker of luxury handbags, and Netflix, which streams TV shows and movies over the Internet, were winners after announcing profits that impressed investors. Financial stocks rose after Travelers' earnings beat the expectations of financial analysts who follow the company.

That's a change from earlier this year. The stock market's surge in 2013 has been led by so-called defensive industries such as health care, consumer staples and utilities. Investors buy those stocks when they're unsure about the direction of the economy and want to own companies that make products people buy in bad times as well as good. Until now, they've been less enthusiastic about stocks of companies that provide discretionary goods and services and do best in good times.

"For a change we are actually seeing more cyclical parts of the economy lead the market," said Michael Sheldon, chief market strategist at RDM Financial Group.

The Dow Jones industrial average and the Standard & Poor's 500 index both rose 1 percent, and for a third straight day.

Stocks closed higher even after all financial markets were shaken in the early afternoon when a fake tweet on The Associated Press Twitter account prompted a sudden sell-off.

A posting saying that there had been explosions at the White House and that President Barack Obama had been injured was sent at 1:08 p.m. The Dow immediately plunged 143 points, from 14,697 to 14,554. The AP said its Twitter account had been hacked and the posting was fake.

Within five minutes, the Dow had snapped back.

AP spokesman Paul Colford said the news cooperative is working with Twitter to investigate the issue. The AP disabled its other Twitter accounts following the attack, Colford added.

The NYSE DOW closed HIGHER ▲ 152.29 points or ▲ 1.05% Tuesday, 23 April 2013
Symbol …........Last ......Change.....
Dow_Jones 14,719.46 ▲ 152.29 ▲ 1.05%
Nasdaq___ 3,269.33 ▲ 35.78 ▲ 1.11%
S&P_500__ 1,578.78 ▲ 16.28 ▲ 1.04%
30_Yr_Bond 2.888 ▲ 0.01 ▲ 0.28%

NYSE Volume 3,957,531,000
Nasdaq Volume 1,642,050,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6,406.12 ▲ 125.50 ▲ 2.00%
DAX_____ 7,658.21 ▲ 180.10 ▲ 2.41%
CAC_40__ 3,783.05 ▲ 130.92 ▲ 3.58%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5,002.60 ▲ 47.20 ▲ 0.95%
Shanghai_Comp 2,184.54 ▼ -57.63 ▼ -2.57%
Taiwan_Weight 7,942.77 ▼ -27.61 ▼ -0.35%
Nikkei_225____ 13,529.65 ▼ -38.72 ▼ -0.29%
Hang_Seng____ 21,806.61 ▼ -237.76 ▼ -1.08%
Strait_Times___ 3,284.35 ▼ -24.57 ▼ -0.74%
NZX_50_Index__ 4,516.50 ▲ 32.84 ▲ 0.73%

http://finance.yahoo.com/news/stock...;_ylg=X3oDMTBhYWM1a2sxBGxhbmcDZW4tVVM-;_ylv=3

Stocks gain on earnings; fake tweet shakes stocks

Strong earnings drive stocks higher; fake tweet briefly shakes markets

By Steve Rothwell, AP Markets Writer

Companies that do the best when the economy is improving led the market higher Tuesday after several of them reported strong quarterly earnings.

Coach, a maker of luxury handbags, and Netflix, which streams TV shows and movies over the Internet, were winners after announcing profits that impressed investors. Financial stocks rose after Travelers' earnings beat the expectations of financial analysts who follow the company.

That's a change from earlier this year. The stock market's surge in 2013 has been led by so-called defensive industries such as health care, consumer staples and utilities. Investors buy those stocks when they're unsure about the direction of the economy and want to own companies that make products people buy in bad times as well as good. Until now, they've been less enthusiastic about stocks of companies that provide discretionary goods and services and do best in good times.

"For a change we are actually seeing more cyclical parts of the economy lead the market," said Michael Sheldon, chief market strategist at RDM Financial Group.

The Dow Jones industrial average and the Standard & Poor's 500 index both rose 1 percent, and for a third straight day.

Stocks closed higher even after all financial markets were shaken in the early afternoon when a fake tweet on The Associated Press Twitter account prompted a sudden sell-off.

A posting saying that there had been explosions at the White House and that President Barack Obama had been injured was sent at 1:08 p.m. The Dow immediately plunged 143 points, from 14,697 to 14,554. The AP said its Twitter account had been hacked and the posting was fake.

Within five minutes, the Dow had snapped back.

AP spokesman Paul Colford said the news cooperative is working with Twitter to investigate the issue. The AP disabled its other Twitter accounts following the attack, Colford added.

Joe Fox, chairman and co-founder of online brokerage Ditto Trade, was at work in Los Angeles when he got a call from his Chicago brokerage offices telling him what had happened. Fox watched the market tanking, and its quick bounce back.

"It was a topsy-turvy rollercoaster for a few minutes there," Fox said.

After the brief sell-off, investors turned their focus back to earnings.

Netflix soared $42.62, or 24 percent, to $216.99 after reporting a big gain in subscribers in the first quarter. Coach jumped $4.96, or 11 percent, to $55.55, after it announced higher sales in North America, beat earnings forecasts from financial analysts and raised its dividend. Travelers rose $1.77, or 2.1 percent, to $86.35. The insurer paid out less in claims compared with the premiums it took in

So far, 69 percent of companies that have reported earnings for the first quarter have beaten analysts' expectations, better than the 10-year average of 62 percent, according to data from S&P Capital IQ.

Still, profits are expected to rise just 2.3 percent, slower than the 7.7 percent growth in the fourth quarter.

There are still plenty of earnings for investors to get through this week.

Consumer goods giant Procter & Gamble, drugmaker Eli Lilly and Boeing are among companies that will release earnings on Wednesday. United Parcel Service ”” better known as UPS ”” Exxon Mobil and Amazon are some of the corporations that will give updates on Thursday.

The Dow closed up 152.29 points at 14,719.46. The S&P 500 ended 16.28 points higher at 1,578.78. Both indexes are about 1 percent below their record highs.

The Nasdaq composite rose 35.78 points, or 1 percent, to 3,269.33.

Tuesday's upturn in stock markets put both indexes back in the black for April and closer to the record highs they reached on April 11. It was a sharp change of tone from last week, when the market had its worst weekly drop since November. That sell-off started after economic growth in China, the world's second-largest economy, slowed.

The yield on the 10-year Treasury note rose to 1.71 percent, from 1.70 percent late Monday.