NYSE Dow Jones finished today at:

[bigdog]

Source: http://finance.yahoo.com

The stock market is taking a break from its record-breaking run.

Some weak corporate earnings reports on Tuesday held the market back, pushing the major indexes slightly lower.

Tenet Healthcare plunged after the hospital operator issued a disappointing outlook for this quarter and said that its third-quarter profit fell, in part because of costs associated with a big acquisition. Freight forwarder Expeditors International dropped after missing analysts' expectations for profit and revenue.

The market is still close to record levels after a surge that has put the Standard & Poor's 500 index on track for its best performance since 2009. Stocks have advanced this year as the Federal Reserve kept up its stimulus program to help the U.S. economy recover.

Investors are struggling, however, to find more catalysts to push the market higher. Investors already expect the Fed to keep up its stimulus until at least next year, and company earnings may start to flag if economic growth remains in the doldrums.

"We're going to run out of steam here," said Scott Wren, a senior equity strategist at Wells Fargo Advisors.

The S&P 500 index dropped 4.96 points, or 0.3 percent, to 1,762.97. The index is nine points below its record close of 1,771.95 set Oct. 29.

The index is up 0.4 percent this month, a muted gain compared with October, when it rose 4.5 percent as investors bet that the Fed would continue with its economic stimulus after a 16-day government shutdown crimped growth and hurt consumer confidence.

The Dow Jones industrial average was down 20.90 points, or 0.1 percent, to 15,618.22. The Nasdaq composite was up 3.27, or less than 0.1 percent, at 3,939.86.

Overall, corporate earnings for the third quarter have been better than analysts had forecast.

Earnings for S&P 500 companies are expected to grow by 5.2 percent in the July-to-September period, according to S&P Capital IQ. That's better than the 4.9 percent growth recorded in the second quarter and the 2.4 percent growth in the same period a year ago.

Stocks could struggle to add to their gains in coming weeks, however, now that three-quarters of the S&P 500's earnings reports have been released, said Kristina Hooper, head of U.S. Capital Markets Research & Strategy at Allianz Global Investors. Investors may also be underestimating the impact that last month's government shutdown had on the economy, she said.

"What's concerning is what we're seeing for the fourth quarter," Hooper said. The forecasts companies are making "suggest that we could see some damage from the shutdown."

The overwhelming majority of earnings outlooks that companies have provided for the fourth quarter have been negative. Of the 78 companies that have provided investors with guidance, 60 have lowered their forecasts.

The NYSE DOW closed LOWER ▼ -20.9 points or ▼ -0.13% on Tuesday, 5 November 2013
Symbol …........Last ......Change.....
Dow_Jones 15618.22 ▼ -20.9 ▼ -0.13%
Nasdaq___ 3939.86 ▲ 3.27 ▲ 0.08%
S&P_500__ 1762.97 ▼ -4.96 ▼ -0.28%
30_Yr_Bond 3.758 ▲ 0.067 ▲ 1.82%

NYSE Volume 3,485,483,750
Nasdaq Volume 1,897,861,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6746.84 ▼ -16.78 ▼ -0.25%
DAX_____ 9009.11 ▼ -28.12 ▼ -0.31%
CAC_40__ 4253.34 ▼ -35.25 ▼ -0.82%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5425.7 ▲ 41.5 ▲ 0.77%
Shanghai_Comp 2157.24 ▲ 7.61 ▲ 0.35%
Taiwan_Weight 8262.2 ▼ -91.94 ▼ -1.10%
Nikkei_225____ 14225.37 ▲ 23.8 ▲ 0.17%
Hang_Seng____ 23038.95 ▼ -150.67 ▼ -0.65%
Strait_Times___ 3205.54 ▲ 1.6 ▲ 0.05%
NZX_50_Index__ 4938.7 ▲ 28.03 ▲ 0.57%

http://finance.yahoo.com/news/weak-earnings-reports-stall-stock-213356219.html

Some weak earnings reports stall the stock market

Stocks edge lower after a handful of weak corporate earnings; Tenet Healthcare plunges

By Steve Rothwell, AP Markets Writer

The stock market is taking a break from its record-breaking run.

Some weak corporate earnings reports on Tuesday held the market back, pushing the major indexes slightly lower.

Tenet Healthcare plunged after the hospital operator issued a disappointing outlook for this quarter and said that its third-quarter profit fell, in part because of costs associated with a big acquisition. Freight forwarder Expeditors International dropped after missing analysts' expectations for profit and revenue.

The market is still close to record levels after a surge that has put the Standard & Poor's 500 index on track for its best performance since 2009. Stocks have advanced this year as the Federal Reserve kept up its stimulus program to help the U.S. economy recover.

Investors are struggling, however, to find more catalysts to push the market higher. Investors already expect the Fed to keep up its stimulus until at least next year, and company earnings may start to flag if economic growth remains in the doldrums.

"We're going to run out of steam here," said Scott Wren, a senior equity strategist at Wells Fargo Advisors.

The S&P 500 index dropped 4.96 points, or 0.3 percent, to 1,762.97. The index is nine points below its record close of 1,771.95 set Oct. 29.

The index is up 0.4 percent this month, a muted gain compared with October, when it rose 4.5 percent as investors bet that the Fed would continue with its economic stimulus after a 16-day government shutdown crimped growth and hurt consumer confidence.

The Dow Jones industrial average was down 20.90 points, or 0.1 percent, to 15,618.22. The Nasdaq composite was up 3.27, or less than 0.1 percent, at 3,939.86.

Overall, corporate earnings for the third quarter have been better than analysts had forecast.

Earnings for S&P 500 companies are expected to grow by 5.2 percent in the July-to-September period, according to S&P Capital IQ. That's better than the 4.9 percent growth recorded in the second quarter and the 2.4 percent growth in the same period a year ago.

Stocks could struggle to add to their gains in coming weeks, however, now that three-quarters of the S&P 500's earnings reports have been released, said Kristina Hooper, head of U.S. Capital Markets Research & Strategy at Allianz Global Investors. Investors may also be underestimating the impact that last month's government shutdown had on the economy, she said.

"What's concerning is what we're seeing for the fourth quarter," Hooper said. The forecasts companies are making "suggest that we could see some damage from the shutdown."

The overwhelming majority of earnings outlooks that companies have provided for the fourth quarter have been negative. Of the 78 companies that have provided investors with guidance, 60 have lowered their forecasts.

On Tuesday, Tenet dropped $4.26, or 8.8 percent, to $44. That decreased the stock's gain this year to 36 percent. Expeditors fell $2.88 or 6.2 percent, to $43.41.

Investors are also waiting for the Labor Department's closely watched monthly jobs survey, which was delayed a week by the government shutdown. The report is due out Friday.

In government bond trading, the yield on the 10-year note climbed to 2.67 percent from 2.60 percent on Monday.

The yield rose after a private survey showed that hiring and sales increased in the U.S. services sector last month. That suggests the sector wasn't affected by the partial government shutdown. The report measures growth at companies that employ 90 percent of the workforce, including retail, construction, health care and financial services.

In the commodities markets, the price of oil fell $1.25, or 1.3 percent, to $93.37 a barrel. Gold edged down $6.60, or 0.5 percent, to $1,308.10 an ounce.

Among other stocks making big moves:

”” Delphi Automotive fell $2.99, or 5.2 percent, to $55.01 after the company supplier to auto makers cut its forecast for the year and sales slid.

”” CVS Caremark rose $1.24, or 2 percent, to $63.22 after its third-quarter income climbed 25 percent, beating Wall Street expectations. The drugstore operator and pharmacy benefits manager also raised its 2013 earnings forecast.

”” Regeneron jumped $20.62, or 7.3 percent, to $302.32 after the pharmaceutical company posted earnings that beat analysts' expectations. The company also reported strong growth of its eye disease drug Eylea.

 

[bigdog]

Source: http://finance.yahoo.com

There wasn't any major economic news or blockbuster earnings. But that didn't stop investors from pushing the Dow Jones industrial average to another record on Wednesday.

Instead, investors focused on the big economic news this week that has yet to come, U.S. third-quarter economic growth on Thursday and the October jobs report Friday. Both reports could signal how much longer the Federal Reserve will keep up its $85 billion a month in bond purchases. That program has held down interest rates, kept bond yields low and made stocks more attractive for investors.

The Dow reached its latest record of 15,746.88 with some help from Microsoft. The tech giant rose the most in more than two months after analysts at Nomura said investors should focus on how the company's fortunes could improve once it picks a replacement for CEO Steve Ballmer.

Other indexes also gained, but not as much.

The Standard & Poor's 500 index rose, but not quite enough to set another record. The Nasdaq composite and the Russell 2000, an index of small-company stocks, edged lower. The patchy performance of the overall market suggests that investors may be getting wary of stocks after this year's strong gains, said Sam Stovall, chief equity strategist at S&P Capital IQ.

Stovall said he didn't think the market's advance was in danger of being derailed, but said "investors are still a little bit nervous."

The Dow increased 128.66 points, or 0.8 percent. The S&P 500 index rose 7.52, or 0.4 percent, to 1,770.49, just one point below its all-time high set Oct. 29. It's up 24 percent so far this year.

The Nasdaq composite fell 7.92 points, or 0.2 percent, to 3,931.95. The index reached a 13-year high at the end of last month.

Economists expect that the U.S. economy grew at an annualized pace of 2 percent in the July-to-September period, down from 2.5 percent the previous quarter, according to FactSet, a financial data provider. They also forecast that U.S. employers added 122,000 jobs in October, down from 148,000 the month before. Weak signals on the economy could mean a longer period of Fed stimulus.

The NYSE DOW closed HIGHER ▲ 128.66 points or ▲ 0.82% on Wednesday, 6 November 2013
Symbol …........Last ......Change.....
Dow_Jones 15746.88 ▲ 128.66 ▲ 0.82%
Nasdaq___ 3931.95 ▼ -7.92 ▼ -0.20%
S&P_500__ 1770.49 ▲ 7.52 ▲ 0.43%
30_Yr_Bond 3.769 ▲ 0.011 ▲ 0.29%

NYSE Volume 3,298,861,000
Nasdaq Volume 1,995,767,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6741.69 ▼ -5.15 ▼ -0.08%
DAX_____ 9040.87 ▲ 31.76 ▲ 0.35%
CAC_40__ 4286.93 ▲ 33.59 ▲ 0.79%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5426 ▲ 0.3 ▲ 0.01%
Shanghai_Comp 2139.61 ▼ -17.63 ▼ -0.82%
Taiwan_Weight 8281.97 ▲ 19.77 ▲ 0.24%
Nikkei_225____ 14337.31 ▲ 111.94 ▲ 0.79%
Hang_Seng____ 23036.94 ▼ -2.01 ▼ -0.01%
Strait_Times___ 3205.29 ▼ -0.25 ▼ -0.01%
NZX_50_Index__ 4944.57 ▲ 5.87 ▲ 0.12%

http://finance.yahoo.com/news/dow-jones-average-closes-record-221209126.html

Dow Jones average closes at a record

Dow Jones industrial average rises to another record; Index gets a boost as Microsoft jumps

By Steve Rothwell, AP Markets Writer

There wasn't any major economic news or blockbuster earnings. But that didn't stop investors from pushing the Dow Jones industrial average to another record on Wednesday.

Instead, investors focused on the big economic news this week that has yet to come, U.S. third-quarter economic growth on Thursday and the October jobs report Friday. Both reports could signal how much longer the Federal Reserve will keep up its $85 billion a month in bond purchases. That program has held down interest rates, kept bond yields low and made stocks more attractive for investors.

The Dow reached its latest record of 15,746.88 with some help from Microsoft. The tech giant rose the most in more than two months after analysts at Nomura said investors should focus on how the company's fortunes could improve once it picks a replacement for CEO Steve Ballmer.

Other indexes also gained, but not as much.

The Standard & Poor's 500 index rose, but not quite enough to set another record. The Nasdaq composite and the Russell 2000, an index of small-company stocks, edged lower. The patchy performance of the overall market suggests that investors may be getting wary of stocks after this year's strong gains, said Sam Stovall, chief equity strategist at S&P Capital IQ.

Stovall said he didn't think the market's advance was in danger of being derailed, but said "investors are still a little bit nervous."

The Dow increased 128.66 points, or 0.8 percent. The S&P 500 index rose 7.52, or 0.4 percent, to 1,770.49, just one point below its all-time high set Oct. 29. It's up 24 percent so far this year.

The Nasdaq composite fell 7.92 points, or 0.2 percent, to 3,931.95. The index reached a 13-year high at the end of last month.

Economists expect that the U.S. economy grew at an annualized pace of 2 percent in the July-to-September period, down from 2.5 percent the previous quarter, according to FactSet, a financial data provider. They also forecast that U.S. employers added 122,000 jobs in October, down from 148,000 the month before. Weak signals on the economy could mean a longer period of Fed stimulus.

In other company news Wednesday, Ralph Lauren was among the biggest gainers in the S&P 500.

The luxury retailer rose $9.33, or 5.5 percent, to $180.52 after raising its sales forecast for the year in anticipation of a strong holiday season. Ralph Lauren also increased its quarterly dividend by 12.5 percent to 45 cents.

Tesla Motors was among the biggest decliners in the Nasdaq. The electric carmaker's stock sank $25.65, or 14.5 percent, to $151.16 after it reported a loss; analysts had been expecting a profit. The stock is still up almost 350 percent this year after the company turned a profit and won raves for its Model S sedan, which starts at $70,000.

The drop in Tesla's stock was so steep that it triggered a "circuit breaker" on the Nasdaq exchange.

The rule, introduced by the Securities and Exchange Commission to prevent big stock declines from snowballing, puts restrictions on short-selling a stock that has dropped 10 percent or more from the previous day's closing price. When traders sell stocks short, they borrow the stock and immediately sell it in the hope of being able to buy the shares back later at a lower price.

In government bond trading, the yield on the 10-year note fell to 2.65 percent from 2.67 percent on Tuesday. The U.S. Treasury said Wednesday it will begin selling Treasury securities next year that have variable interest rates. It's the first new Treasury security in 17 years.

Among other stocks making big moves, Abercrombie & Fitch fell $5.18, or 13.5 percent, to $33.13. The teen apparel retailer cut its full-year profit forecast and reported a sharp drop in sales for the third quarter.

 

[bigdog]

Source: http://finance.yahoo.com

Twitter popped, but the rest of the market dropped.

Twitter wowed investors with a 73 percent surge on its first day of trading Thursday. The broader market, however, had its worst day since August as traders worried that the Federal Reserve could cut back on its economic stimulus.

The cause of that worry was a surprisingly strong report on U.S. economic growth in the third quarter. That led investors to believe the Fed could start pulling back as soon as next month, sooner than many anticipated.

After 33 record-high closes this year, an increasing number of investors believe the stock market has become frothy and is ready for a pullback. The first-day surge in Twitter, a company that has never made a profit, was the latest example.

"The market had rallied a heck of a lot and to justify further gains, we really need to see the economy improving or corporate earnings picking up," said Alec Young, global equity strategist with S&P Capital IQ.

The Standard & Poor's 500 index fell 23.34 points, 1.3 percent, to 1,747.15. Even after Thursday's drop, the index is still up 22.5 percent this year. The last time the benchmark index had a bigger gain for a whole year was in 2009.

The Dow Jones industrial average retreated from the record high it set the day before, giving up 152.90 points, or 1 percent, to close at 15,593.98.

The Nasdaq composite lost 74.61 points, or 1.9 percent, to 3,857.33.

What got traders concerned about a pullback by the Fed was a report from the government early in the day that the U.S. economy expanded at an annual rate of 2.8 percent in the third quarter, up from 2.5 percent in the previous quarter and more than economists anticipated.

The robust growth "certainly raises the possibility of the Fed pulling back in December," said Peter Cardillo, chief market economist at Rockwell Global Capital. "The Fed is going to test the water."

The Fed is buying $85 billion of bonds every month to hold down interest rates and encourage hiring and borrowing. The program has also helped drive the stock market rally by lowering bond yields, making them less appealing to investors.

The NYSE DOW closed LOWER ▼ -152.9 points or ▼ -0.97% on Thursday, 7 November 2013
Symbol …........Last ......Change.....
Dow_Jones 15593.98 ▼ -152.9 ▼ -0.97%
Nasdaq___ 3857.33 ▼ -74.61 ▼ -1.90%
S&P_500__ 1747.15 ▼ -23.34 ▼ -1.32%
30_Yr_Bond 3.726 ▼ -0.043 ▼ -1.14%

NYSE Volume 4,092,440,500
Nasdaq Volume 2,245,628,500

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6697.22 ▼ -44.47 ▼ -0.66%
DAX_____ 9081.03 ▲ 40.16 ▲ 0.44%
CAC_40__ 4280.99 ▼ -5.94 ▼ -0.14%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5415.4 ▼ -10.6 ▼ -0.20%
Shanghai_Comp 2129.4 ▼ -10.21 ▼ -0.48%
Taiwan_Weight 8283.71 ▲ 1.74 ▲ 0.02%
Nikkei_225____ 14228.44 ▼ -108.87 ▼ -0.76%
Hang_Seng____ 22881.03 ▼ -155.91 ▼ -0.68%
Strait_Times___ 3202.1 ▼ -3.19 ▼ -0.10%
NZX_50_Index__ 4922.69 ▼ -21.88 ▼ -0.44%

http://finance.yahoo.com/news/stocks-sink-fed-worries-twitter-221318469.html

Stocks sink on Fed worries, but Twitter surges

Stocks slide a day after record high as traders fear a Fed pullback; Twitter soars 73 percent

By Steve Rothwell and Ken Sweet, AP Markets Writers

Twitter popped, but the rest of the market dropped.

Twitter wowed investors with a 73 percent surge on its first day of trading Thursday. The broader market, however, had its worst day since August as traders worried that the Federal Reserve could cut back on its economic stimulus.

The cause of that worry was a surprisingly strong report on U.S. economic growth in the third quarter. That led investors to believe the Fed could start pulling back as soon as next month, sooner than many anticipated.

After 33 record-high closes this year, an increasing number of investors believe the stock market has become frothy and is ready for a pullback. The first-day surge in Twitter, a company that has never made a profit, was the latest example.

"The market had rallied a heck of a lot and to justify further gains, we really need to see the economy improving or corporate earnings picking up," said Alec Young, global equity strategist with S&P Capital IQ.

The Standard & Poor's 500 index fell 23.34 points, 1.3 percent, to 1,747.15. Even after Thursday's drop, the index is still up 22.5 percent this year. The last time the benchmark index had a bigger gain for a whole year was in 2009.

The Dow Jones industrial average retreated from the record high it set the day before, giving up 152.90 points, or 1 percent, to close at 15,593.98.

The Nasdaq composite lost 74.61 points, or 1.9 percent, to 3,857.33.

Twitter soared $18.90 to $44.90. Twitter priced its initial public offering Wednesday night at $26 per share.

What got traders concerned about a pullback by the Fed was a report from the government early in the day that the U.S. economy expanded at an annual rate of 2.8 percent in the third quarter, up from 2.5 percent in the previous quarter and more than economists anticipated.

The robust growth "certainly raises the possibility of the Fed pulling back in December," said Peter Cardillo, chief market economist at Rockwell Global Capital. "The Fed is going to test the water."

The Fed is buying $85 billion of bonds every month to hold down interest rates and encourage hiring and borrowing. The program has also helped drive the stock market rally by lowering bond yields, making them less appealing to investors.

Another key economic report comes out on Friday, the government's jobs survey for October. Economists forecast that U.S. employers added 122,000 jobs, down from 148,000 the month before, reflecting a 16-day partial shutdown of the federal government.

The jobs report "has people a little on edge" said Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank. "We're expecting a modest number but it's really hard to say what the impact of the government shutdown will be."

In government bond trading, the yield on the 10-year Treasury note fell to 2.60 percent from 2.64 percent.

 

[bigdog]

Source: http://finance.yahoo.com

An unexpectedly strong jobs report gave stocks a lift on Friday, pushing the Dow Jones industrial average back to an all-time high.

The gains were led by banks, such as Bank of America and JPMorgan Chase, which stand to benefit from a pickup in lending as the economy strengthens. Consumer-focused stocks such as Priceline.com and Disney also rose after reporting higher profits, and Gap soared after raising its earnings forecast. Losers included housing stocks and Twitter, which dropped 7 percent the day after its initial public offering.

The jobs survey left investors grappling with how to interpret this week's surprisingly strong economic data and what it means for the Federal Reserve's economic stimulus program. On Thursday the government reported that U.S. economic growth accelerated in the third quarter. The Fed's stimulus has helped power this year's stock rally.

"We're walking a tight wire with the Fed," said Rob Lutts, Chief Investment Officer at Cabot Money Management. Lutts said the job survey was positive because it showed the economy was improving, but perhaps not strongly enough to assure that Fed policymakers will pull back on its bond-buying program before the end of year.

The Dow gained 167.80 points, or 1.1 percent, to 15,761. The Dow also closed at a record high on Wednesday.

The Standard & Poor's 500 index ended 23.46 higher, or 1.3 percent, at 1,770.61, just a point below its record. The Nasdaq composite rose 61.90 points, or 1.6 percent, to 3,919.23.

Both the Dow and the S&P 500 recovered all of their losses from Thursday, when concern about the Fed withdrawing its stimulus outweighed optimism about faster economic growth.

The reaction to the jobs report was even more pronounced in the bond market. The yield on the 10-year Treasury note jumped to the highest in six weeks as investors sold bonds, anticipating less demand for them if the Fed slows its purchases. Rising interest rates are a sign that investors are more confident in the economy. They are a boon to banks because it means that they can lend money at higher rates.

The yield on the 10-year note jumped to 2.75 percent from 2.60 percent on Thursday, the highest level since Sept. 20. JPMorgan Chase rose $2.31, or 4.5 percent, to $53.96. Bank of America gained 52 cents, or 3.8 percent, to $14.32.

The NYSE DOW closed HIGHER ▲ 167.8 points or ▲ 1.08% on Friday, 8 November 2013
Symbol …........Last ......Change.....
Dow_Jones 15761.78 ▲ 167.8 ▲ 1.08%
Nasdaq___ 3919.23 ▲ 61.9 ▲ 1.60%
S&P_500__ 1770.61 ▲ 23.46 ▲ 1.34%
30_Yr_Bond 3.842 ▲ 0.116 ▲ 3.11%

NYSE Volume 3,770,583,000
Nasdaq Volume 1,935,029,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6708.42 ▲ 11.2 ▲ 0.17%
DAX_____ 9078.28 ▼ -2.75 ▼ -0.03%
CAC_40__ 4260.44 ▼ -20.55 ▼ -0.48%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5394.4 ▼ -21 ▼ -0.39%
Shanghai_Comp 2106.13 ▼ -23.27 ▼ -1.09%
Taiwan_Weight 8229.59 ▼ -54.12 ▼ -0.65%
Nikkei_225____ 14086.8 ▼ -141.64 ▼ -1.00%
Hang_Seng____ 22744.39 ▼ -136.64 ▼ -0.60%
Strait_Times___ 3177.25 ▼ -24.85 ▼ -0.78%
NZX_50_Index__ 4951.36 ▲ 28.67 ▲ 0.58%

http://finance.yahoo.com/news/dow-hits-another-high-hiring-211909805.html


Dow hits another high on hiring surge last month

Dow Jones industrial average closes at record high after surprise surge in hiring last month

By Ken Sweet and Steve Rothwell, AP Markets Writers

An unexpectedly strong jobs report gave stocks a lift on Friday, pushing the Dow Jones industrial average back to an all-time high.

The gains were led by banks, such as Bank of America and JPMorgan Chase, which stand to benefit from a pickup in lending as the economy strengthens. Consumer-focused stocks such as Priceline.com and Disney also rose after reporting higher profits, and Gap soared after raising its earnings forecast. Losers included housing stocks and Twitter, which dropped 7 percent the day after its initial public offering.

The jobs survey left investors grappling with how to interpret this week's surprisingly strong economic data and what it means for the Federal Reserve's economic stimulus program. On Thursday the government reported that U.S. economic growth accelerated in the third quarter. The Fed's stimulus has helped power this year's stock rally.

"We're walking a tight wire with the Fed," said Rob Lutts, Chief Investment Officer at Cabot Money Management. Lutts said the job survey was positive because it showed the economy was improving, but perhaps not strongly enough to assure that Fed policymakers will pull back on its bond-buying program before the end of year.

The Dow gained 167.80 points, or 1.1 percent, to 15,761. The Dow also closed at a record high on Wednesday.

The Standard & Poor's 500 index ended 23.46 higher, or 1.3 percent, at 1,770.61, just a point below its record. The Nasdaq composite rose 61.90 points, or 1.6 percent, to 3,919.23.

Both the Dow and the S&P 500 recovered all of their losses from Thursday, when concern about the Fed withdrawing its stimulus outweighed optimism about faster economic growth.

The reaction to the jobs report was even more pronounced in the bond market. The yield on the 10-year Treasury note jumped to the highest in six weeks as investors sold bonds, anticipating less demand for them if the Fed slows its purchases. Rising interest rates are a sign that investors are more confident in the economy. They are a boon to banks because it means that they can lend money at higher rates.

The yield on the 10-year note jumped to 2.75 percent from 2.60 percent on Thursday, the highest level since Sept. 20. JPMorgan Chase rose $2.31, or 4.5 percent, to $53.96. Bank of America gained 52 cents, or 3.8 percent, to $14.32.

Housing stocks were among the biggest decliners on Friday.

Higher Treasury yields lead to higher mortgage rates, and that in turn can hurt demand for homes. Lennar fell $1.45, or 4.2 percent, to $32.79. PulteGroup dropped 66 cents, or 3.8 percent, to $16.85.

The government reported that U.S. employers added 204,000 jobs in October, an unexpected burst of hiring during a month in which the federal government was partially shut down for 16 days. The job additions were far greater than the 130,000 economists were expecting, according to FactSet, a financial data provider.

The jobs report was the second piece of unexpectedly robust economic news that Wall Street received in the past two days. The Commerce Department said Thursday that the U.S. economy grew at a 2.8 percent annualized rate in the third quarter, better than the 2.5 percent rate economists were looking for.

The Federal Reserve has been buying $85 billion worth of bonds each month since last December to keep long-term interest rates low and encourage hiring and borrowing. The program has also helped drive up stock prices by making bonds look expensive by comparison.

Some analysts say the impact of the Fed's stimulus on the stock market's rise has been overstated, compared to factors such as rising corporate earnings. Removing the stimulus would likely benefit the economy by eliminating one of the uncertainties facing U.S. businesses, said Liz Ann Sonders, chief investment strategist at Charles Schwab.

"It's time we rip the Band-Aid off," Sonders said. "If it's the data that supports it, all the better."

Almost 90 percent of the companies in the S&P 500 have reported their results for the third quarter, and their earnings are forecast to have grown 5.6 percent in the period. That compares with growth of 4.9 percent in the second quarter and 2.4 percent in the same period a year ago.

Among other stocks making big moves:

”” Gap rose $3.68, or 9.7 percent, to $41.43 after the retailer reported solid gains in sales for October and gave an upbeat profit forecast for its third quarter.

”” Priceline rose $50.31, or 4.9 percent, to $1,073.20 after the online booking company said its profit rose 40 percent in the third quarter, as bookings for flights, rental cars and hotels rose.

”” Walt Disney rose $1.43, or 2.1 percent, to $68.53 after the company's earnings rose 12 percent in its fiscal fourth quarter, beating analysts' expectations.

”” Twitter fell $3.25, or 7.2 percent, to $41.65 on the social media company's second day of trading. The stock surged 73 percent above its IPO price on Thursday.

5301

 

[bigdog]

Source: http://finance.yahoo.com

The Dow Jones industrial average rose to another all-time high on Wall Street Monday.

The market edged higher from Friday, when it got a lift from an unexpectedly strong U.S. jobs report for October. The surge in hiring made investors more optimistic that the U.S. economy is getting stronger.

Stock trading volume was among the lowest of the year, and bond markets were closed for Veterans Day. Traders on the floor of the New York Stock Exchange held a moment of silence in observance of the holiday.

The Dow has advanced for five straight weeks and is up 20 percent so far this year. The last time the Dow had a bigger gain for a whole year was 2003, when it rose 25 percent.

Other major indexes have also surged. Stocks have been propelled higher this year by economic stimulus from the Federal Reserve, a gradually improving economy and rising company earnings.

Given that the market is "up hugely" this year, investors may be hesitant to put more money into stocks, said Andres Garcia-Amaya, a global market strategist at JPMorgan Funds. "At the same time, I don't think people are going to leave at this point," he said.

Investors have put $12.7 billion into U.S. stock mutual funds this year, after pulling money out of the stock market in each of the past five years, according to Investment Company Institute data.

The Dow rose 21.32 points, or 0.1 percent, to 15,783.10 The index of 30 blue-chip stocks has closed at a record 35 times this year.

The Standard & Poor's 500 index gained 1.28 points, or 0.1 percent, to 1,771.89, just 0.06 point below its own record high reached on Oct. 29. The Nasdaq composite rose 0.56 points, less than 0.1 percent, to 3,919.79.

Stocks can rise further from these levels, but the market's rate of ascent will likely slow given the big gains over the last four and a half years, said Phil Orlando, chief equity market strategist at Federated Investors. The S&P 500 is up more than 160 percent since bottoming out in March 2009.

"The easy money has been made," said Orlando. "We can continue to go higher, but that process is going to be a grind over the next couple of years."

Investors this week will look for evidence that Americans are ready to start spending for the holidays. Macy's, Wal-Mart, Nordstrom and Kohl's are scheduled to report their quarterly results.

About ninety percent of companies in the S&P 500 have released their third-quarter earnings, and the majority beat the expectations of Wall Street analysts, according to data from S&P Capital IQ.

Earnings are forecast to grow by 5.6 percent in the July-to-September period, compared with 4.9 percent in the second quarter and 2.4 percent in the same period a year earlier.

Investors will be closely following the Senate Banking Committee's confirmation hearing for Janet Yellen on Thursday. Yellen has been nominated to succeed Federal Reserve Chairman Ben Bernanke, becoming the first woman to lead the U.S. central bank.

The NYSE DOW closed HIGHER ▲ 21.32 points or ▲ 0.14% on Monday, 11 November 2013
Symbol …........Last ......Change.....
Dow_Jones 15783.1 ▲ 21.32 ▲ 0.14%
Nasdaq___ 3919.79 ▲ 1.67 ▲ 0.04%
S&P_500__ 1771.89 ▲ 1.28 ▲ 0.07%
30_Yr_Bond 3.85 ▲ 0.01 ▲ 0.16%

NYSE Volume 2,521,517,750
Nasdaq Volume 1,567,282,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6728.37 ▲ 19.95 ▲ 0.30%
DAX_____ 9107.86 ▲ 29.58 ▲ 0.33%
CAC_40__ 4290.14 ▲ 29.7 ▲ 0.70%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5380.8 ▼ -13.6 ▼ -0.25%
Shanghai_Comp 2109.47 ▲ 3.34 ▲ 0.16%
Taiwan_Weight 8182.56 ▼ -47.03 ▼ -0.57%
Nikkei_225____ 14269.84 ▲ 183.04 ▲ 1.30%
Hang_Seng____ 23069.85 ▲ 325.46 ▲ 1.43%
Strait_Times___ 3186.72 ▲ 9.47 ▲ 0.30%
NZX_50_Index__ 4922.17 ▼ -29.19 ▼ -0.59%

http://finance.yahoo.com/news/dow-jones-average-reaches-another-214506461.html


Dow Jones average reaches another record high

Dow Jones industrial average closes at a record; S&P 500 just shy of its own all-time high

By Steve Rothwell, AP Markets Writer

The Dow Jones industrial average rose to another all-time high on Wall Street Monday.

The market edged higher from Friday, when it got a lift from an unexpectedly strong U.S. jobs report for October. The surge in hiring made investors more optimistic that the U.S. economy is getting stronger.

Stock trading volume was among the lowest of the year, and bond markets were closed for Veterans Day. Traders on the floor of the New York Stock Exchange held a moment of silence in observance of the holiday.

The Dow has advanced for five straight weeks and is up 20 percent so far this year. The last time the Dow had a bigger gain for a whole year was 2003, when it rose 25 percent.

Other major indexes have also surged. Stocks have been propelled higher this year by economic stimulus from the Federal Reserve, a gradually improving economy and rising company earnings.

Given that the market is "up hugely" this year, investors may be hesitant to put more money into stocks, said Andres Garcia-Amaya, a global market strategist at JPMorgan Funds. "At the same time, I don't think people are going to leave at this point," he said.

Investors have put $12.7 billion into U.S. stock mutual funds this year, after pulling money out of the stock market in each of the past five years, according to Investment Company Institute data.

The Dow rose 21.32 points, or 0.1 percent, to 15,783.10 The index of 30 blue-chip stocks has closed at a record 35 times this year.

The Standard & Poor's 500 index gained 1.28 points, or 0.1 percent, to 1,771.89, just 0.06 point below its own record high reached on Oct. 29. The Nasdaq composite rose 0.56 points, less than 0.1 percent, to 3,919.79.

Stocks can rise further from these levels, but the market's rate of ascent will likely slow given the big gains over the last four and a half years, said Phil Orlando, chief equity market strategist at Federated Investors. The S&P 500 is up more than 160 percent since bottoming out in March 2009.

"The easy money has been made," said Orlando. "We can continue to go higher, but that process is going to be a grind over the next couple of years."

Investors this week will look for evidence that Americans are ready to start spending for the holidays. Macy's, Wal-Mart, Nordstrom and Kohl's are scheduled to report their quarterly results.

About ninety percent of companies in the S&P 500 have released their third-quarter earnings, and the majority beat the expectations of Wall Street analysts, according to data from S&P Capital IQ.

Earnings are forecast to grow by 5.6 percent in the July-to-September period, compared with 4.9 percent in the second quarter and 2.4 percent in the same period a year earlier.

Investors will be closely following the Senate Banking Committee's confirmation hearing for Janet Yellen on Thursday. Yellen has been nominated to succeed Federal Reserve Chairman Ben Bernanke, becoming the first woman to lead the U.S. central bank.

Yellen's testimony "is coming at an important inflection point," for financial markets, as the Fed considers pulling back on its stimulus, said Quincy Krosby, market strategist at Prudential Financial. The Fed is currently buying $85 billion of bonds every month and holding its benchmark interest rate close to zero to stimulate economic growth.

"The market will be looking for any clues" about the Fed's policy going forward, Krosby said.

The yield on the 10-year Treasury note jumped last week to 2.75 percent, the highest in six weeks, after the government reported last month's surge in hiring.

In commodities trading, the price of oil rose 54 cents, or 0.6 percent, to $95.14 a barrel. The price of gold fell $3.50, or 0.3 percent, to $1,281.10 an ounce.

Among stocks making big moves:

”” ViroPharma jumped $10.04, or 26 percent, to $49.42 after the company agreed to be acquired by drugmaker Shire PLC.

”” Transocean rose $1.92, or 3.6 percent, to $55.37 after the company said it had agreed to settle a months-long proxy fight with billionaire investor and minority shareholder Carl Icahn. The company will pay a $3-a-share dividend and reduce the size of its board.

”” Best Buy rose $1.92, or 4.5 percent, to $44.33 after an analyst at UBS lifted his rating on the stock to "buy" from "neutral" and raised his price target on the stock in anticipation of better earnings. Best Buy has risen 274 percent this year, making it the best performer in the S&P 500 index.

 

[bigdog]

Source: http://finance.yahoo.com

Disappointing company earnings and falling oil prices pulled stocks back from record highs on Tuesday.

NRG Energy slumped after the company lowered its earnings forecast, leading other power companies lower. News Corp. fell after the media company posted an unexpected revenue decline due to weakness at its Australian newspapers. Energy stocks declined after oil dropped to a five-month low.

Winners included airlines. The gains were led by JetBlue Airways after the Justice Department said it cleared the way for American Airlines and US Airways to merge, creating the world's biggest airline.

This year's 24 percent surge in the stock market has slowed in November. The Standard & Poor's 500 has edged up 0.6 percent this month after an average monthly increase of 1.7 percent in the previous 10 months.

"The market looks tired to us," said Jim Russell, a regional investment director at US Bank. "A little bit of a pause is actually healthy," allowing the economy time to catch up to the gains the stock market has made.

After closing at an all-time high on three of the previous four trading days, the Dow Jones industrial average fell 32.43 points, or 0.2 percent, to 15,750.67. The S&P 500 index dropped 4.20 points, or 0.2 percent, to 1,767.69 points. The Nasdaq composite edged up 0.13 point to 3,919.92.

Stocks have climbed this year as the Federal Reserve has maintained its $85 billion in monthly bond purchases to keep interest rates low and encourage borrowing and hiring. Now, investors may start focusing more on an improving economy rather than the future of the Fed's economic stimulus program, said Joe Quinlan, chief market strategist for U.S. Trust Bank of America Private Wealth Management.

The U.S. economy expanded at an annual rate of 2.8 percent in the third quarter, up from 2.5 percent in the previous quarter and more than economists anticipated, the government reported last Thursday. That was followed by an unexpectedly strong October jobs report.

"Economic data has really come in strong of late," said Douglas Cote, chief market strategist at ING Investment Management. "There's a lot of room for this market to continue higher in 2014."

Investors will also be following Thursday's confirmation hearing for Janet Yellen, who has been nominated to succeed Fed Chairman Ben Bernanke. They'll look for clues about when the Fed may begin to scale back its economic stimulus.

"Some discussion of tapering could well take place" next month, Fed Bank of Atlanta President Dennis Lockhart said Thursday in a radio interview with Bloomberg Radio. The Fed's last policy meeting of the year starts Dec. 18.

In U.S. government bond trading, the yield on the 10-year Treasury note climbed to 2.78 percent from 2.75 percent Friday. The bond market was closed Monday for the Veterans Day holiday.

The NYSE DOW closed LOWER ▼ -32.43 points or ▼ -0.21% on Tuesday, 12 November 2013
Symbol …........Last ......Change.....
Dow_Jones 15750.67 ▼ -32.43 ▼ -0.21%
Nasdaq___ 3919.92 ▲ 0.13 ▲ 0.00%
S&P_500__ 1767.69 ▼ -4.2 ▼ -0.24%
30_Yr_Bond 3.86 ▲ 0.01 ▲ 0.18%

NYSE Volume 3,221,109,750
Nasdaq Volume 1,755,957,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6726.79 ▼ -1.58 ▼ -0.02%
DAX_____ 9076.48 ▼ -31.38 ▼ -0.34%
CAC_40__ 4263.78 ▼ -26.36 ▼ -0.61%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5386.8 ▲ 6 ▲ 0.11%
Shanghai_Comp 2126.77 ▲ 17.3 ▲ 0.82%
Taiwan_Weight 8195.26 ▲ 12.7 ▲ 0.16%
Nikkei_225____ 14588.68 ▲ 318.84 ▲ 2.23%
Hang_Seng____ 22901.41 ▼ -168.44 ▼ -0.73%
Strait_Times___ 3180.25 ▼ -6.47 ▼ -0.20%
NZX_50_Index__ 4915.67 ▼ -6.5 ▼ -0.13%

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

US stocks fall as earnings disappoint

Stocks fall as disappointing earnings drag on NRG Energy and oil's drop hits energy stocks

By Steve Rothwell, AP Markets Writer

Disappointing company earnings and falling oil prices pulled stocks back from record highs on Tuesday.

NRG Energy slumped after the company lowered its earnings forecast, leading other power companies lower. News Corp. fell after the media company posted an unexpected revenue decline due to weakness at its Australian newspapers. Energy stocks declined after oil dropped to a five-month low.

Winners included airlines. The gains were led by JetBlue Airways after the Justice Department said it cleared the way for American Airlines and US Airways to merge, creating the world's biggest airline.

This year's 24 percent surge in the stock market has slowed in November. The Standard & Poor's 500 has edged up 0.6 percent this month after an average monthly increase of 1.7 percent in the previous 10 months.

"The market looks tired to us," said Jim Russell, a regional investment director at US Bank. "A little bit of a pause is actually healthy," allowing the economy time to catch up to the gains the stock market has made.

After closing at an all-time high on three of the previous four trading days, the Dow Jones industrial average fell 32.43 points, or 0.2 percent, to 15,750.67. The S&P 500 index dropped 4.20 points, or 0.2 percent, to 1,767.69 points. The Nasdaq composite edged up 0.13 point to 3,919.92.

Six of the 10 industry groups in the S&P 500 index fell. Banks and utilities slid the most.

NRG Energy was one of the biggest decliners in the S&P 500, slipping 98 cents, or 3.5 percent, to $27.06. News Corp. fell 27 cents, or 1.5 percent, to $17.15.

Energy stocks fell broadly. Pioneer Natural Resources, an oil exploration company, dropped $5.63, or 3 percent, to $182.70. Chevron lost $1.20, or 0.9 percent, to $120.

Stocks have climbed this year as the Federal Reserve has maintained its $85 billion in monthly bond purchases to keep interest rates low and encourage borrowing and hiring. Now, investors may start focusing more on an improving economy rather than the future of the Fed's economic stimulus program, said Joe Quinlan, chief market strategist for U.S. Trust Bank of America Private Wealth Management.

The U.S. economy expanded at an annual rate of 2.8 percent in the third quarter, up from 2.5 percent in the previous quarter and more than economists anticipated, the government reported last Thursday. That was followed by an unexpectedly strong October jobs report.

"Economic data has really come in strong of late," said Douglas Cote, chief market strategist at ING Investment Management. "There's a lot of room for this market to continue higher in 2014."

Investors will also be following Thursday's confirmation hearing for Janet Yellen, who has been nominated to succeed Fed Chairman Ben Bernanke. They'll look for clues about when the Fed may begin to scale back its economic stimulus.

"Some discussion of tapering could well take place" next month, Fed Bank of Atlanta President Dennis Lockhart said Thursday in a radio interview with Bloomberg Radio. The Fed's last policy meeting of the year starts Dec. 18.

In U.S. government bond trading, the yield on the 10-year Treasury note climbed to 2.78 percent from 2.75 percent Friday. The bond market was closed Monday for the Veterans Day holiday.

In commodities trading, the price of oil slumped as the market anticipated another increase in domestic supplies. Oil fell $2.10, or 2.2 percent, to $93.04 a barrel, its lowest price in five months.

Among other stocks making big moves:

”” Dean Foods, a major milk producer, dropped $1.51, or 7.7 percent, to $18.20 after cutting its profit forecast.

”” JetBlue rose 47 cents, or 6.1 percent, to $8.16 after the government said it had reached a settlement with US Airways and American Airlines. American and US Airways will have to give up takeoff and landing slots at major airports as part of the deal.

”” D.R. Horton rose 85 cents, or 4.7 percent, to $18.91 after the homebuilder said its net income jumped 39 percent in its fiscal fourth quarter and that sales of new homes rose in October.

 

[bigdog]

Source: http://finance.yahoo.com

MY APOLOGIES FOR MY EARLY POSTING TODAY US TIME 1:27 pm NY TIME
-- I am in Hawaii on holidays and off to Waikiki shortly for a tour

Stocks were mixed on Wall Street Wednesday as investors weighed signs of an improving economy against the prospect of the Federal Reserve cutting back on its economic stimulus.

Chegg, an online textbook rental company, flopped in its stock market debut, and clothing maker Perry Ellis plunged after cutting its revenue forecast because of weak sales. Macy's rose after beating analysts' earnings estimates.

The Federal Reserve is buying $85 billion of bonds a month to keep interest rates low and support the economy, helping drive a rally in stocks this year that has pushed indexes to record highs. Surprisingly strong reports on economic growth and hiring last week have led investors to speculate that the Fed may pare back its stimulus sooner than expected.

The stock market has fallen back this week from record levels as the number of companies reporting third-quarter earnings has slowed and in the absence of any major economic reports.

"We're in a pause as everyone waits for more data," said Kate Warne, an investment strategist at Edward Jones, an investment adviser. "There's obviously a lot of speculation about when the Fed will decide to move."

Investors will closely follow Thursday's confirmation hearing for Janet Yellen, who has been nominated to succeed Fed Chairman Ben Bernanke, for clues about when the Fed may begin to reduce its economic stimulus.

The Dow Jones industrial average was down 14 points, or 0.1 percent, to 15,736 as of 12:30 p.m. Eastern time. It was down as much as 78 points earlier.

The Standard & Poor's 500 index was up three points, or 0.2 percent, to 1,770. The Nasdaq composite rose 18 points, or 0.5 percent, to 3,938.

The market started lower but turned mixed by midday. Half of the 10 industry groups in the S&P 500 were down and the other half were up. Slightly more stocks rose than fell on the New York Stock Exchange.

The NYSE DOW closed HIGHER ▲ -0.63 points or ▲ 0.00% on Tuesday, 12 November 2013
Symbol …........Last ......Change.....
Dow_Jones 15750.04 ▼ -0.63 ▲ 0.00%
Nasdaq___ 3942.27 ▲ 22.35 ▲ 0.57%
S&P_500__ 1772.63 ▲ 4.94 ▲ 0.28%
30_Yr_Bond 3.84 ▼ -0.02 ▼ -0.47%

NYSE Volume 1,815,962,880
Nasdaq Volume 960,021,310

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6630 ▼ -96.79 ▼ -1.44%
DAX_____ 9054.83 ▼ -21.65 ▼ -0.24%
CAC_40__ 4239.94 ▼ -23.84 ▼ -0.56%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5317.5 ▼ -69.3 ▼ -1.29%
Shanghai_Comp 2087.94 ▼ -38.83 ▼ -1.83%
Taiwan_Weight 8104.26 ▼ -91 ▼ -1.11%
Nikkei_225____ 14567.16 ▼ -21.52 ▼ -0.15%
Hang_Seng____ 22463.83 ▼ -437.58 ▼ -1.91%
Strait_Times___ 3166.74 ▼ -13.51 ▼ -0.42%
NZX_50_Index__ 4918.66 ▲ 2.99 ▲ 0.06%

http://finance.yahoo.com/news/stocks-turn-mixed-wall-street-173906210.html


Stocks turn mixed on Wall Street

Stocks are mixed as investors mull the outlook for Federal Reserve's stimulus program

By Steve Rothwell, AP Markets Writer

Stocks were mixed on Wall Street Wednesday as investors weighed signs of an improving economy against the prospect of the Federal Reserve cutting back on its economic stimulus.

Chegg, an online textbook rental company, flopped in its stock market debut, and clothing maker Perry Ellis plunged after cutting its revenue forecast because of weak sales. Macy's rose after beating analysts' earnings estimates.

The Federal Reserve is buying $85 billion of bonds a month to keep interest rates low and support the economy, helping drive a rally in stocks this year that has pushed indexes to record highs. Surprisingly strong reports on economic growth and hiring last week have led investors to speculate that the Fed may pare back its stimulus sooner than expected.

The stock market has fallen back this week from record levels as the number of companies reporting third-quarter earnings has slowed and in the absence of any major economic reports.

"We're in a pause as everyone waits for more data," said Kate Warne, an investment strategist at Edward Jones, an investment adviser. "There's obviously a lot of speculation about when the Fed will decide to move."

Investors will closely follow Thursday's confirmation hearing for Janet Yellen, who has been nominated to succeed Fed Chairman Ben Bernanke, for clues about when the Fed may begin to reduce its economic stimulus.

The Dow Jones industrial average was down 14 points, or 0.1 percent, to 15,736 as of 12:30 p.m. Eastern time. It was down as much as 78 points earlier.

The Standard & Poor's 500 index was up three points, or 0.2 percent, to 1,770. The Nasdaq composite rose 18 points, or 0.5 percent, to 3,938.

The market started lower but turned mixed by midday. Half of the 10 industry groups in the S&P 500 were down and the other half were up. Slightly more stocks rose than fell on the New York Stock Exchange.

The stocks of consumer companies got a lift from Macy's, which jumped $4.35, or 9.3 percent, to $49.95.

In government bond trading, the yield on the 10-year Treasury note fell to 2.74 percent from 2.77 percent Tuesday.

About 90 percent of companies in the S&P 500 have now reported their third-quarter results, and earnings are projected to rise by 5.6 percent in the July-to-September period, according to S&P Capital IQ data. That's better than the 4.9 percent growth recorded in the second quarter and better than the 2.4 percent growth in same period a year ago.

The strong trend in company earnings should help the stock market rebound from any sell-off induced by concerns that the Fed is set to cut its stimulus, said Dan Morris, Global Investment Strategist at TIAA-CREF, an asset management company.

"What really matters are earnings for corporations," Morris said. "If people focus on that, it's all pretty good."

In commodities trading, the price of oil rebounded after a slump on Tuesday. Oil rose $1.27, or 1.3 percent, to $94.34 a barrel. Gold rose $1.25, or 0.1 percent, to $1,272.60 an ounce.

Among other stocks making big moves:

””Chegg dropped $2.37, or 19 percent, to $10.13 on its first day of trading.

”” Potbelly Corp. rose $4.52, or 16.6 percent, to $31.55, after its third-quarter adjusted earnings came in ahead of market expectations. It was the restaurant operator's first quarter as a publicly traded company.

”” Perry Ellis fell $4.30, or 22 percent, to $15.18 after lowering its revenue forecast, citing fewer shipments and lower sales through its direct retail channel. The clothing company also cut its full-year forecast.

 

[bigdog]

Source: http://finance.yahoo.com

Not all record days on the stock market are created equal.

Major U.S. indexes rose to all-time highs for the second day in a row Thursday, but the gains were driven by stocks that investors tend to buy when they want to avoid risk, such as power companies, banks and drug makers.

The flight to less-volatile stocks and those that pay bigger-than-average dividends suggested that investors are becoming more cautious after a 26 percent surge in the market this year. More investors are saying the market has risen too far, too fast given the sluggish state of the U.S. economy.

"The legion of people in the last three months who think this market has topped out has grown significantly," said JJ Kinahan, chief strategist at TD Ameritrade. However, Kinahan said the general tendency for the market is still to move higher.

Across the market, the most popular names were "defensive" stocks, ones that are seen as more likely to hold up in a downturn. Northeast Utilities, New England's largest utility, rose 2 percent. Oil refining company Valero Energy rose 4 percent and life insurance company MetLife increased 3 percent.

The Dow Jones utility index, which is made up of 15 large utility companies, rose 1 percent, double the gain in the broader market. On the flip side, small-company stocks, which are viewed as more risky than larger, more established companies, were the only major category of stocks to fall. The Russell 2000 index edged lower.

The Dow Jones industrial average gained 54.59 points, or 0.4 percent, to 15,876.22, while the Standard & Poor's 500 index added 8.62 points, or 0.5 percent, to 1,790.62. Both were record highs.

The Nasdaq composite edged up 7.16 points, or 0.2 percent, to 3,972.74.

The NYSE DOW closed HIGHER ▲ 54.59 points or ▲ 0.35% on Thursday, 14 November 2013
Symbol …........Last ......Change.....
Dow_Jones 15876.22 ▲ 54.59 ▲ 0.35%
Nasdaq___ 3972.74 ▲ 7.17 ▲ 0.18%
S&P_500__ 1790.62 ▲ 8.62 ▲ 0.48%
30_Yr_Bond 3.8 ▼ -0.03 ▼ -0.76%

NYSE Volume 3,121,031,250
Nasdaq Volume 1,926,808,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6666.13 ▲ 36.13 ▲ 0.54%
DAX_____ 9149.66 ▲ 94.83 ▲ 1.05%
CAC_40__ 4283.91 ▲ 43.97 ▲ 1.04%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5352 ▲ 34.5 ▲ 0.65%
Shanghai_Comp 2100.51 ▲ 12.57 ▲ 0.60%
Taiwan_Weight 8134.91 ▲ 30.65 ▲ 0.38%
Nikkei_225____ 14876.41 ▲ 309.25 ▲ 2.12%
Hang_Seng____ 22649.15 ▲ 185.32 ▲ 0.82%
Strait_Times___ 3191.08 ▲ 24.34 ▲ 0.77%
NZX_50_Index__ 4927.18 ▲ 8.52 ▲ 0.17%

http://finance.yahoo.com/news/hunt-safety-drives-wall-street-220814938.html


Hunt for safety drives Wall Street to record high

Latest record highs on Wall Street are set as investors seek comfort in lower-risk stocks

By Ken Sweet, AP Markets Writer

Not all record days on the stock market are created equal.

Major U.S. indexes rose to all-time highs for the second day in a row Thursday, but the gains were driven by stocks that investors tend to buy when they want to avoid risk, such as power companies, banks and drug makers.

The flight to less-volatile stocks and those that pay bigger-than-average dividends suggested that investors are becoming more cautious after a 26 percent surge in the market this year. More investors are saying the market has risen too far, too fast given the sluggish state of the U.S. economy.

"The legion of people in the last three months who think this market has topped out has grown significantly," said JJ Kinahan, chief strategist at TD Ameritrade. However, Kinahan said the general tendency for the market is still to move higher.

Across the market, the most popular names were "defensive" stocks, ones that are seen as more likely to hold up in a downturn. Northeast Utilities, New England's largest utility, rose 2 percent. Oil refining company Valero Energy rose 4 percent and life insurance company MetLife increased 3 percent.

The Dow Jones utility index, which is made up of 15 large utility companies, rose 1 percent, double the gain in the broader market. On the flip side, small-company stocks, which are viewed as more risky than larger, more established companies, were the only major category of stocks to fall. The Russell 2000 index edged lower.

The Dow Jones industrial average gained 54.59 points, or 0.4 percent, to 15,876.22, while the Standard & Poor's 500 index added 8.62 points, or 0.5 percent, to 1,790.62. Both were record highs.

The Nasdaq composite edged up 7.16 points, or 0.2 percent, to 3,972.74.

Network equipment maker Cisco Systems plunged after predicting a slump in sales, pulling other large technology companies down. Cisco sank $2.63, or 11 percent, to $21.36, Hewlett-Packard lost $1.42, or 5 percent, to $25.07 and Oracle fell 62 cents, or 2 percent, to $34.38.

Cisco, which relies heavily on government contracts, said its revenue for the current quarter could fall as much as 10 percent from the same period a year ago. The company's chief executive, John Chambers, blamed budget gridlock in Washington, which resulted in a partial shutdown of the federal government for 16 days and a near-breach of the nation's borrowing limit.

"The shutdown, debt ceiling negotiations and delay of key decisions exasperated the lack of confidence among business leaders," Chambers said in a conference call with analysts.

Investors pay close attention to what Cisco says because it's considered a proxy for business spending on technology. Cisco manufactures equipment that makes up the backbone of the Internet such as routers and servers.

At least one investor felt that Wall Street was overreacting to Cisco's results.

"Everything seemed hunky-dory in tech and then Cisco comes out and says this ... it stands out to me as a little bit of anomaly," said Daniel Morgan, a portfolio manager at Synovus Trust Company, who focuses mostly on technology investments. "It's a concern, but I don't think this is a reason to rethink my whole strategy," he said. Cisco is still up 21 percent over the past year.

The market was also helped by news out of Washington, D.C.

Janet Yellen, who has been nominated to replace Ben Bernanke as the lead of the Federal Reserve, made no indication she would deviate from the economic stimulus policies that Bernanke has championed. The comments came during her testimony in front of the Senate Banking Committee.

When asked her opinion about the recent rally in stock prices, Yellen said stocks "are not in bubble territory."

 

[bigdog]

Source: http://finance.yahoo.com

Investors stayed upbeat Friday, pushing U.S. stock indexes deeper into record territory.

Stocks climbed to all-time highs for the third straight day as investors assessed the prospect for further economic stimulus from the Federal Reserve.

Agilent Technologies, which makes scientific instruments, was the biggest gainer in the Standard & Poor's 500 index after reporting earnings that exceeded analysts' expectations. Exxon Mobil rose after billionaire Warren Buffett's company disclosed late Thursday that it had taken a stake in the oil company.

The S&P 500 has advanced for six straight weeks, part of an impressive rise this year. The index is up 26.1 percent so far. If it ends 2013 with a gain that big it would be the best performance in a decade.

Several factors have been driving the market higher this year. The Federal Reserve has kept up its extraordinary efforts to stimulate the economy. And while the U.S. economy's recovery has been plodding, it has been strong enough to enable corporations to keep increasing their profits.

"It's bland, it's vanilla, but it's sweet," said John Manley, chief equity strategist at Wells Fargo Fund Management.

Despite the surge, stock prices remain reasonable compared with earnings, Manley said. Stock valuations are "not cheap, but they're not prohibitive," he said.

The ratio of stock prices to forecast earnings for S&P 500 companies is currently 15, according to data from FactSet. That's slightly below the average ratio of 16.2 over the last 15 years and far below the peak of 25 recorded in the late 1990s and early 2000s.

The S&P 500 added 7.56 points, or 0.4 percent, to 1,798.18. All 10 of the industry groups in the S&P 500 rose.

The Dow Jones industrial average gained 85.48 points, or 0.5 percent, to 15,961.70. The Nasdaq composite rose 13.23 points, or 0.3 percent, to 3,985.97.

The NYSE DOW closed HIGHER ▲ 85.48 points or ▲ 0.54% on Friday, 15 November 2013
Symbol …........Last ......Change.....
Dow_Jones 15961.7 ▲ 85.48 ▲ 0.54%
Nasdaq___ 3985.97 ▲ 13.23 ▲ 0.33%
S&P_500__ 1798.18 ▲ 7.56 ▲ 0.42%
30_Yr_Bond 3.8 ▲ 0 ▲ 0.03%

NYSE Volume 3,260,470,500
Nasdaq Volume 1,885,187,750

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6693.44 ▲ 27.31 ▲ 0.41%
DAX_____ 9168.69 ▲ 19.03 ▲ 0.21%
CAC_40__ 4292.23 ▲ 8.32 ▲ 0.19%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5396.2 ▲ 44.2 ▲ 0.83%
Shanghai_Comp 2135.83 ▲ 35.32 ▲ 1.68%
Taiwan_Weight 8177.12 ▲ 42.21 ▲ 0.52%
Nikkei_225____ 15165.92 ▲ 289.51 ▲ 1.95%
Hang_Seng____ 23032.15 ▲ 383 ▲ 1.69%
Strait_Times___ 3201.27 ▲ 10.19 ▲ 0.32%
NZX_50_Index__ 4914.08 ▼ -13.1 ▼ -0.27%

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


US stocks push through latest record highs

S&P 500 posts sixth straight week of gains, longest streak since February; Agilent jumps

By Steve Rothwell, AP Markets Writer

Investors stayed upbeat Friday, pushing U.S. stock indexes deeper into record territory.

Stocks climbed to all-time highs for the third straight day as investors assessed the prospect for further economic stimulus from the Federal Reserve.

Agilent Technologies, which makes scientific instruments, was the biggest gainer in the Standard & Poor's 500 index after reporting earnings that exceeded analysts' expectations. Exxon Mobil rose after billionaire Warren Buffett's company disclosed late Thursday that it had taken a stake in the oil company.

The S&P 500 has advanced for six straight weeks, part of an impressive rise this year. The index is up 26.1 percent so far. If it ends 2013 with a gain that big it would be the best performance in a decade.

Several factors have been driving the market higher this year. The Federal Reserve has kept up its extraordinary efforts to stimulate the economy. And while the U.S. economy's recovery has been plodding, it has been strong enough to enable corporations to keep increasing their profits.

"It's bland, it's vanilla, but it's sweet," said John Manley, chief equity strategist at Wells Fargo Fund Management.

Despite the surge, stock prices remain reasonable compared with earnings, Manley said. Stock valuations are "not cheap, but they're not prohibitive," he said.

The ratio of stock prices to forecast earnings for S&P 500 companies is currently 15, according to data from FactSet. That's slightly below the average ratio of 16.2 over the last 15 years and far below the peak of 25 recorded in the late 1990s and early 2000s.

The S&P 500 added 7.56 points, or 0.4 percent, to 1,798.18. All 10 of the industry groups in the S&P 500 rose.

The Dow Jones industrial average gained 85.48 points, or 0.5 percent, to 15,961.70. The Nasdaq composite rose 13.23 points, or 0.3 percent, to 3,985.97.

Agilent jumped $4.39, or 8.7 percent, to $54.93. Exxon Mobil, a member of the Dow, rose $2.05, or 2.2 percent, to $95.27.

Investors may be getting more comfortable with the prospect of the Fed cutting back on its stimulus as long as the economy is also improving, said Jim Dunigan, a managing executive at PNC Wealth Management. The stock market's biggest setbacks this year have come when investors worried that Fed policy makers were close to paring their $85 billion per month in bond purchases, which are intended to keep interest rates low.

"The path of least resistance (for stocks) seems to be higher right now," Dunigan said.

In government bond trading, the yield on the 10-year note rose to 2.71 percent from 2.70 percent from Thursday. Oil was flat at $93.71 a barrel. Gold rose $1.10 to $1,287.40 an ounce.

Among other stocks making big moves;

”” Zulily surged in its first day as a publicly traded company. The Seattle-based online retailer of baby products jumped $15.70, or 71 percent, to $37.70.

”” Vanda Pharmaceuticals soared $1.55, or 12 percent, to $14.59 after FDA advisers recommended approval for the company's potential sleep disorder drug tasimelteon.

”” Western Union fell 75 cents, or 4.3 percent, to $16.70 after the money-transfer company said late Thursday that its longtime chief financial officer would step down.

5839

 

[bigdog]

Source: http://finance.yahoo.com

The stock market broke through two milestones Monday before giving up nearly all its gains late in the day.

Stocks rose from the opening bell, lifting the Dow Jones industrial average above 16,000 for the first time and the Standard & Poor's 500 index past 1,800, two big markers in a historic bull market. But by the end of day, both indexes had fallen below those levels.

"The market is always a little hesitant when it gets to round numbers," says Ed Cowart, managing director at Eagle Asset Management. "You don't want to be the first guy buying at 16,000 on the Dow."

The Dow managed to eke out a gain over Friday's close with a late push higher, ending just 24 points shy of 16,000. Both the Dow and the S&P 500 are on track for their best year in a decade and have soared more than 140 percent since bottoming out in the Great Recession more than four years ago.

Investors have pushed stocks up sharply this year as the U.S. economy improves, companies report record profits and the Federal Reserve keeps up its easy-money policies.

"The Fed is still pumping money into the system, which is helping fuel the market," says Frank Fantozzi, CEO of Planned Financial Services, a wealth manager. "There's much more confidence in the market."

The Dow has risen for six weeks straight and is up 22 percent so far this year. The market hasn't risen that much in a whole year since 2003.

The Dow has closed above round-number milestones two times this year: 14,000 in early February and 15,000 in early October. The quick climb has led some experts to wonder whether stocks are too high and set to tumble.

Brad McMillan, chief investment officer for Commonwealth Financial, says he's not worried yet, but notes three ingredients of market froth are already present: investors borrowing record amounts to buy stock, more companies going public for the first time and Main Street investors putting money into the market after years of pulling out.

"Greed is taking over from fear," McMillan says.

Including this year's gains, the S&P 500 is up 165 percent from the start of the current bull market in March 2009, 56 months ago.

Bull markets dating back to the Great Depression have averaged 57 months, according to S&P Capital IQ, a research firm, however the duration of bull markets has varied greatly over time. The bull market of the 1990s lasted 113 months, for instance.

The S&P 500 closed down 6.65 points, or 0.4 percent, at 1,791.53. The Dow rose 14.32 points, or 0.09 percent, to 15,976.02.

The Nasdaq composite fell 36.90 points, or 0.9 percent, to 3,949.07.

The NYSE DOW closed HIGHER ▲ 14.32 points or ▲ 0.09% on Monday, 18 November 2013
Symbol …........Last ......Change.....
Dow_Jones 15976.02 ▲ 14.32 ▲ 0.09%
Nasdaq___ 3949.07 ▼ -36.9 ▼ -0.93%
S&P_500__ 1791.53 ▼ -6.65 ▼ -0.37%
30_Yr_Bond 3.77 ▼ -0.03 ▼ -0.92%

NYSE Volume 3,152,511,250
Nasdaq Volume 1,793,142,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6723.46 ▲ 30.02 ▲ 0.45%
DAX_____ 9225.43 ▲ 56.74 ▲ 0.62%
CAC_40__ 4320.68 ▲ 28.45 ▲ 0.66%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5377.9 ▼ -18.3 ▼ -0.34%
Shanghai_Comp 2197.22 ▲ 61.39 ▲ 2.87%
Taiwan_Weight 8191.46 ▲ 14.34 ▲ 0.18%
Nikkei_225____ 15164.3 ▼ -1.62 ▼ -0.01%
Hang_Seng____ 23660.06 ▲ 627.91 ▲ 2.73%
Strait_Times___ 3203.03 ▲ 1.76 ▲ 0.05%
NZX_50_Index__ 4892.04 ▼ -22.04 ▼ -0.45%

http://finance.yahoo.com/news/stocks-hit-round-number-milestones-220948208.html

Stocks hit round-number milestones, then slip

Dow tops 16,000 for first time, S&P 500 hits 1,800, then give up gains in late-day slump

By Bernard Condon, AP Business Writer

The stock market broke through two milestones Monday before giving up nearly all its gains late in the day.

Stocks rose from the opening bell, lifting the Dow Jones industrial average above 16,000 for the first time and the Standard & Poor's 500 index past 1,800, two big markers in a historic bull market. But by the end of day, both indexes had fallen below those levels.

"The market is always a little hesitant when it gets to round numbers," says Ed Cowart, managing director at Eagle Asset Management. "You don't want to be the first guy buying at 16,000 on the Dow."

The Dow managed to eke out a gain over Friday's close with a late push higher, ending just 24 points shy of 16,000. Both the Dow and the S&P 500 are on track for their best year in a decade and have soared more than 140 percent since bottoming out in the Great Recession more than four years ago.

Investors have pushed stocks up sharply this year as the U.S. economy improves, companies report record profits and the Federal Reserve keeps up its easy-money policies.

"The Fed is still pumping money into the system, which is helping fuel the market," says Frank Fantozzi, CEO of Planned Financial Services, a wealth manager. "There's much more confidence in the market."

The Dow has risen for six weeks straight and is up 22 percent so far this year. The market hasn't risen that much in a whole year since 2003.

The Dow has closed above round-number milestones two times this year: 14,000 in early February and 15,000 in early October. The quick climb has led some experts to wonder whether stocks are too high and set to tumble.

Brad McMillan, chief investment officer for Commonwealth Financial, says he's not worried yet, but notes three ingredients of market froth are already present: investors borrowing record amounts to buy stock, more companies going public for the first time and Main Street investors putting money into the market after years of pulling out.

"Greed is taking over from fear," McMillan says.

It's not clear whether stocks have become expensive yet or are just fairly priced. One measure of value, the ratio of stock prices to forecast earnings, is at 15 for S&P 500 companies. That is slightly below the 15-year average of 16.2, according to FactSet, a data provider.

Including this year's gains, the S&P 500 is up 165 percent from the start of the current bull market in March 2009, 56 months ago.

Bull markets dating back to the Great Depression have averaged 57 months, according to S&P Capital IQ, a research firm, however the duration of bull markets has varied greatly over time. The bull market of the 1990s lasted 113 months, for instance.

Investors have been betting that Fed stimulus policies are not likely to change soon. Janet Yellen, the nominee to succeed Ben Bernanke as Fed chairman, indicated in congressional testimony last week that she was prepared to keep interest rates low to help the economy.

Investors were also encouraged by a Chinese government announcement late Friday that it plans to open state industries to greater competition and allow more foreign investment. Many big U.S. companies have come to rely on emerging markets like China to boost revenue. About half of the revenue in the S&P 500 comes outside the U.S.

The S&P 500 closed down 6.65 points, or 0.4 percent, at 1,791.53. The Dow rose 14.32 points, or 0.09 percent, to 15,976.02.

The Nasdaq composite fell 36.90 points, or 0.9 percent, to 3,949.07.

Among stocks making big moves, Boeing rose $2.28, or 1.7 percent, to $138.36, the biggest gain in the Dow. The plane maker booked $100 billion in orders at the opening of the Dubai Airshow.

Tyson Foods jumped 65 cents, or 2.3 percent, to $29.42. The food company said its net income surged 41 percent in the latest quarter on higher sales of beef and chicken. The company raised its dividend 50 percent.

The yield on the 10-year Treasury note fell to 2.67 percent from 2.71 percent.

 

[bigdog]

Source: http://finance.yahoo.com

Disappointing earnings news helped push the stock market lower on Tuesday.

Electronics retailer Best Buy plunged after saying extended store hours and price-cutting could squeeze its fourth-quarter profit. Campbell Soup fell sharply after reporting that its profit slumped as sales of soups and V8 drinks fell. The two stocks were the biggest decliners in the Standard & Poor's 500 index.

Even with the slight decline the S&P 500 is still up 25 percent so far in 2013 and has risen for six weeks straight, the longest winning streak since February. The extended run-up has prompted a number of market watchers to call for caution.

"We've had a phenomenal run, particularly in the last few weeks. I wouldn't be surprised if we would pull back from here," said Alec Young, global equity strategist with S&P Capital IQ.

The Dow Jones industrial average edged down 8.99 points, or 0.1 percent, to 15,967.03, the first decline for the index in five days. The Standard & Poor's 500 index lost 3.66 points, or 0.2 percent, to 1,787.87 and the Nasdaq composite fell 17.51 points, or 0.4 percent, to 3,931.55.

The Dow Jones industrial average and the S&P 500 crossed round-number milestones in early trading Monday but failed to build on those advances. The Dow crossed 16,000 and the S&P 500 hit 1,800 for the first time before falling back to close below those levels both Monday and Tuesday.

Retailers were a key focus on Tuesday, especially with the holiday shopping season coming up. Black Friday, the day after Thanksgiving, is one of the biggest shopping days of the year. Consumer spending is a critical component of the U.S. economy, so how consumers behave during the closely watched holiday season will give investors a sign about the outlook for growth.

The NYSE DOW closed LOWER ▼ -8.99 points or ▼ -0.06% on Tuesday, 19 November 2013
Symbol …........Last ......Change.....
Dow_Jones 15967.03 ▼ -8.99 ▼ -0.06%
Nasdaq___ 3931.55 ▼ -17.51 ▼ -0.44%
S&P_500__ 1787.87 ▼ -3.66 ▼ -0.20%
30_Yr_Bond 3.8 ▲ 0.04 ▲ 1.01%

NYSE Volume 3,199,989,000
Nasdaq Volume 1,714,892,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6698.01 ▼ -25.45 ▼ -0.38%
DAX_____ 9193.29 ▼ -32.14 ▼ -0.35%
CAC_40__ 4272.29 ▼ -48.39 ▼ -1.12%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5347.8 ▼ -30.1 ▼ -0.56%
Shanghai_Comp 2193.12 ▼ -4.09 ▼ -0.19%
Taiwan_Weight 8260.21 ▲ 68.75 ▲ 0.84%
Nikkei_225____ 15126.56 ▼ -37.74 ▼ -0.25%
Hang_Seng____ 23657.81 ▼ -2.25 ▼ -0.01%
Strait_Times___ 3192.08 ▼ -10.95 ▼ -0.34%
NZX_50_Index__ 4862.51 ▼ -29.53 ▼ -0.60%

http://finance.yahoo.com/news/stocks-edge-lower-disappointing-earnings-215123723.html


Stocks edge lower after disappointing earnings

US stocks edge lower after disappointing earnings news from Best Buy and Campbell Soup

By Ken Sweet, AP Markets Writer

Disappointing earnings news helped push the stock market lower on Tuesday.

Electronics retailer Best Buy plunged after saying extended store hours and price-cutting could squeeze its fourth-quarter profit. Campbell Soup fell sharply after reporting that its profit slumped as sales of soups and V8 drinks fell. The two stocks were the biggest decliners in the Standard & Poor's 500 index.

Even with the slight decline the S&P 500 is still up 25 percent so far in 2013 and has risen for six weeks straight, the longest winning streak since February. The extended run-up has prompted a number of market watchers to call for caution.

"We've had a phenomenal run, particularly in the last few weeks. I wouldn't be surprised if we would pull back from here," said Alec Young, global equity strategist with S&P Capital IQ.

The Dow Jones industrial average edged down 8.99 points, or 0.1 percent, to 15,967.03, the first decline for the index in five days. The Standard & Poor's 500 index lost 3.66 points, or 0.2 percent, to 1,787.87 and the Nasdaq composite fell 17.51 points, or 0.4 percent, to 3,931.55.

The Dow Jones industrial average and the S&P 500 crossed round-number milestones in early trading Monday but failed to build on those advances. The Dow crossed 16,000 and the S&P 500 hit 1,800 for the first time before falling back to close below those levels both Monday and Tuesday.

Retailers were a key focus on Tuesday, especially with the holiday shopping season coming up. Black Friday, the day after Thanksgiving, is one of the biggest shopping days of the year. Consumer spending is a critical component of the U.S. economy, so how consumers behave during the closely watched holiday season will give investors a sign about the outlook for growth.

Best Buy sank $4.78, or 11 percent, to $38.78 after its warning of a tough holiday trading period ahead. The company's stock is still up 227 percent this year, making it the second-best performer in the S&P 500 after Netflix.

Home Depot rose 71 cents, or 0.9 percent, to $80.38 after reporting income that surpassed analysts' expectations. The company also raised its earnings forecast for the year.

TJX Cos., which operates discount stores including T.J. Maxx and Marshalls, climbed 63 cents, or 1 percent, to $63.12. Its income rose 35 percent as sales improved at both U.S. and international stores.

Investors will turn their thoughts back to the Federal Reserve on Wednesday.

Minutes from the Fed's October meeting will be released at 2 p.m. and investors will scour them to get a read on the central bank's stimulus policy. The central bank is currently buying $85 billion of bonds a month to keep interest rates low and boost the economy. That has underpinned a rally in stocks.

Investors were also watching JPMorgan Chase. The bank reached a record $13 billion settlement with federal and New York State authorities, resolving claims over the bank's sales of mortgage-backed securities that collapsed during the U.S. housing crisis.

JPMorgan closed 41 cents, or 0.7 percent, higher at $56.15.

In government bond trading, the yield on the 10-year Treasury note edged up to 2.71 percent from 2.67 percent. Crude oil rose 31 cents, or 0.3 percent, to $93.34 a barrel and gold edged up $1.20, or 0.1 percent, to $1,273.50 an ounce.

Among other stocks making big moves:

”” United Continental rose $1.42, or 3.9 percent, to $37.80 after the airline operator told investors that it will cut costs, overhaul its website, and shift routes from Asia to Europe.

”” Campbell Soup dropped $2.61, or 6.2 percent, to $39.20 after reporting that its quarterly profit plunged 30 percent. A recall of the recently acquired Plum Organics products also hurt results, and the company cut its earnings forecast for the year.

 

[bigdog]

Source: http://finance.yahoo.com

The latest news from the Federal Reserve spooked investors Wednesday.

Stock and bond prices fell after minutes from the Fed's latest meeting showed that the U.S. economy was improving steadily enough to warrant a reduction in its stimulus program in "coming months."

The Fed has been buying $85 billion every month in Treasury and mortgage-backed bonds, which keeps long-term interest rates artificially low and makes stocks seem inexpensive in comparison to bonds.

"Investors need to be prepared to see the Fed wind down its program in the long term," said Kristina Hooper, head of U.S. investment strategies for Allianz Global Investors.

The Fed's economic stimulus has been a key driver of the stock market's 25 percent surge this year, along with rising corporate profits and a recovering U.S. economy.

The Dow Jones industrial average lost 66.21 points, or 0.4 percent, to 15,900.82. It was up 20 points shortly before the minutes were released at 2 p.m. Eastern time.

The Standard & Poor's 500 index was lost 6.50 points, or 0.4 percent, to 1,781.37. The Nasdaq lost 10.28 points, or 0.3 percent, to 3,921.27.

The market began the day higher after an encouraging report on retail sales and better news from long-struggling J.C. Penney.

Investors already know the Fed will reduce its economic stimulus eventually, yet they remain highly sensitive to concrete signals that a pullback is imminent and worry that the Fed might withdraw its support before the economy is ready.

Bond prices also declined. The yield on the benchmark 10-year Treasury note rose sharply, to 2.80 percent from 2.71 percent just before the minutes were released. That's the highest since Sept. 17. Bond yields rise when demand for them falls.

The Fed's next policy meeting is scheduled for Dec. 17-18. Investors are split on whether the bank will vote to pull back its bond purchases, or "taper" them, as it is sometimes called on Wall Street. The Fed surprised investors at its Sept. 17-18 meeting by keeping the bond purchases in place, despite widespread predictions that it would start to wind the program down.

With Wednesday's decline, the S&P 500 is down roughly 1 percent for the week. The index hasn't had a weekly loss since the week ending Oct. 4.

The NYSE DOW closed LOWER ▼ -66.21 points or ▼ -0.41% on Wednesday, 20 November 2013
Symbol …........Last ......Change.....
Dow_Jones 15900.82 ▼ -66.21 ▼ -0.41%
Nasdaq___ 3921.27 ▼ -10.28 ▼ -0.26%
S&P_500__ 1781.37 ▼ -6.5 ▼ -0.36%
30_Yr_Bond 3.9 ▲ 0.1 ▲ 2.66%

NYSE Volume 3,094,990,250
Nasdaq Volume 1,686,505,620

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6681.08 ▼ -16.93 ▼ -0.25%
DAX_____ 9202.07 ▲ 8.78 ▲ 0.10%
CAC_40__ 4268.37 ▼ -3.92 ▼ -0.09%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5304.6 ▼ -43.2 ▼ -0.81%
Shanghai_Comp 2206.61 ▲ 13.49 ▲ 0.62%
Taiwan_Weight 8204.46 ▼ -55.75 ▼ -0.67%
Nikkei_225____ 15076.08 ▼ -50.48 ▼ -0.33%
Hang_Seng____ 23700.86 ▲ 43.05 ▲ 0.18%
Strait_Times___ 3184.23 ▼ -7.85 ▼ -0.25%
NZX_50_Index__ 4840.36 ▼ -22.14 ▼ -0.46%

http://finance.yahoo.com/news/worries-fed-pullback-sends-stocks-211649746.html


Worries of a Fed pullback sends stocks lower

Worry that the Fed may move to reduce stimulus sends stocks down; 10-year Treasury yield rises

By Ken Sweet, AP Markets Writer

The latest news from the Federal Reserve spooked investors Wednesday.

Stock and bond prices fell after minutes from the Fed's latest meeting showed that the U.S. economy was improving steadily enough to warrant a reduction in its stimulus program in "coming months."

The Fed has been buying $85 billion every month in Treasury and mortgage-backed bonds, which keeps long-term interest rates artificially low and makes stocks seem inexpensive in comparison to bonds.

"Investors need to be prepared to see the Fed wind down its program in the long term," said Kristina Hooper, head of U.S. investment strategies for Allianz Global Investors.

The Fed's economic stimulus has been a key driver of the stock market's 25 percent surge this year, along with rising corporate profits and a recovering U.S. economy.

The Dow Jones industrial average lost 66.21 points, or 0.4 percent, to 15,900.82. It was up 20 points shortly before the minutes were released at 2 p.m. Eastern time.

The Standard & Poor's 500 index was lost 6.50 points, or 0.4 percent, to 1,781.37. The Nasdaq lost 10.28 points, or 0.3 percent, to 3,921.27.

The market began the day higher after an encouraging report on retail sales and better news from long-struggling J.C. Penney.

Investors already know the Fed will reduce its economic stimulus eventually, yet they remain highly sensitive to concrete signals that a pullback is imminent and worry that the Fed might withdraw its support before the economy is ready.

Bond prices also declined. The yield on the benchmark 10-year Treasury note rose sharply, to 2.80 percent from 2.71 percent just before the minutes were released. That's the highest since Sept. 17. Bond yields rise when demand for them falls.

The Fed's next policy meeting is scheduled for Dec. 17-18. Investors are split on whether the bank will vote to pull back its bond purchases, or "taper" them, as it is sometimes called on Wall Street. The Fed surprised investors at its Sept. 17-18 meeting by keeping the bond purchases in place, despite widespread predictions that it would start to wind the program down.

With Wednesday's decline, the S&P 500 is down roughly 1 percent for the week. The index hasn't had a weekly loss since the week ending Oct. 4.

Hooper and other market watchers said they would not be surprised if the market continued to fall. "It would not be unreasonable for investors to step back here," said Ron Florance, deputy chief investment officer for Wells Fargo Private Bank.

J.C. Penney led the S&P 500 index higher with an 8 percent gain. Despite reporting a loss in the third quarter, there were hopeful signs for the long-struggling store chain heading into the holiday shopping season. The company said its sales increased in October for the first time since December 2011. The stock rose 73 cents to $9.44. It's still down 52 percent this year.

Lowe's, the home improvement store chain, fell $3.11, or 6 percent, to $47.33. Lowe's earned 47 cents per share in the latest quarter, a penny short of what analysts were looking for. Lowe's was outshone by competitor Home Depot, which reported a 26 percent surge in net income the day before.

The holiday shopping season is a make-or-break time for U.S. retailers, and more broadly the U.S. economy. Sales during November and December can account for up to 40 percent of the annual revenue for store operators.

So far, there's reason to be hopeful. The National Retail Federation, the nation's largest retail trade group, expects holiday sales to increase 3.9 percent to $602.1 billion this year.

Separately, the U.S. Commerce Department said Wednesday that U.S. retail sales rose 0.4 percent in October. That was much better than the 0.1 percent increase economists had predicted, according to FactSet, a financial information provider.

"Consumers seem to be in a better mood, which will be good for the overall economy," Florance said.

 

[bigdog]

Source: http://finance.yahoo.com

The stock market is poised for a "Perfect 10."

As stocks surge this year, putting them on course for their best annual performance in a decade, all ten industry groups in the Standard & Poor's 500 index are closing in on gains of 10 percent or more for 2013.

That hasn't happened in almost two decades.

The last year that all 10 industry groups in the S&P 500 closed the year higher by 10 percent or more was in 1995, when the overall index rose 31 percent. There have been several years of big yearly gains since, but none that have seen all the sectors notch double-digit jumps.

The S&P 500 gained 26 percent in 1998, but materials and energy stocks fell. The broader index advanced 26 percent in 2003 but phone companies and makers of consumer staples fell short of the 10 percent hurdle.

The reason for the broad gains this year? It's the first time since the Great Recession that investors are starting to believe that the economic recovery, while tepid, is sustainable, says Natalie Trunow, chief investment officer at Calvert Investments, an investment manager.

The housing market is recovering, hiring has picked up and people are less scared of losing their jobs. That has helped boost consumer confidence and support spending.

"Only 12 months ago, the markets were not convinced that we were in recovery mode," says Trunow, who notes there were fears the economy could slide back into recession as recently as last summer.

Here are the 10 industry groups in the S&P 500 index, which is up 26 percent so far in 2013. Here's how each sector has performed:
--- SEE BELOW CHART FOR ANALYSIS

The NYSE DOW closed HIGHER ▲ 109.17 points or ▲ 0.69% on Thursday, 21 November 2013
Symbol …........Last ......Change.....
Dow_Jones 16009.99 ▲ 109.17 ▲ 0.69%
Nasdaq___ 3969.15 ▲ 47.88 ▲ 1.22%
S&P_500__ 1795.85 ▲ 14.48 ▲ 0.81%
30_Yr_Bond 3.88 ▼ -0.02 ▼ -0.56%

NYSE Volume 3,257,504,000
Nasdaq Volume 1,666,533,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6681.33 ▲ 0.25 ▲ 0.00%
DAX_____ 9196.08 ▼ -5.99 ▼ -0.07%
CAC_40__ 4253.9 ▼ -14.47 ▼ -0.34%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5284.3 ▼ -20.3 ▼ -0.38%
Shanghai_Comp 2205.77 ▼ -0.85 ▼ -0.04%
Taiwan_Weight 8099.45 ▼ -105.01 ▼ -1.28%
Nikkei_225____ 15365.6 ▲ 289.52 ▲ 1.92%
Hang_Seng____ 23580.29 ▼ -120.57 ▼ -0.51%
Strait_Times___ 3172.38 ▼ -11.85 ▼ -0.37%
NZX_50_Index__ 4818.37 ▼ -22 ▼ -0.45%

http://finance.yahoo.com/news/p-500-index-close-perfect-215642086.html

S&P 500 index is close to 'Perfect 10'

S&P 500 index is poised to end year with a 'Perfect 10' for the first time since 1995

By Steve Rothwell, AP Markets Writer

The stock market is poised for a "Perfect 10."

As stocks surge this year, putting them on course for their best annual performance in a decade, all ten industry groups in the Standard & Poor's 500 index are closing in on gains of 10 percent or more for 2013.

That hasn't happened in almost two decades.

The last year that all 10 industry groups in the S&P 500 closed the year higher by 10 percent or more was in 1995, when the overall index rose 31 percent. There have been several years of big yearly gains since, but none that have seen all the sectors notch double-digit jumps.

The S&P 500 gained 26 percent in 1998, but materials and energy stocks fell. The broader index advanced 26 percent in 2003 but phone companies and makers of consumer staples fell short of the 10 percent hurdle.

The reason for the broad gains this year? It's the first time since the Great Recession that investors are starting to believe that the economic recovery, while tepid, is sustainable, says Natalie Trunow, chief investment officer at Calvert Investments, an investment manager.

The housing market is recovering, hiring has picked up and people are less scared of losing their jobs. That has helped boost consumer confidence and support spending.

"Only 12 months ago, the markets were not convinced that we were in recovery mode," says Trunow, who notes there were fears the economy could slide back into recession as recently as last summer.

Here are the 10 industry groups in the S&P 500 index, which is up 26 percent so far in 2013. Here's how each sector has performed:

HEALTH CARE: Some stocks in this sector offer the prospect of explosive growth because of new drugs, or medical devices. Other, more established names like Pfizer tempt investors with attractive dividend yields. Health insurers have also done well as the Affordable Health Care Act rolls out.

This year's gain: 36 percent.

CONSUMER DISCRETIONARY: Retailers and other consumer services have surged this year, boosted by two of the stock market's star performers. Netflix has notched the biggest gain of 275 percent, driven by earnings and subscriber growth. Best Buy has jumped 230 percent as it stabilizes earnings.

This year's gain: 36 percent.

INDUSTRIALS: Delta airlines and Southwest Airlines are among the biggest gainer in this sector. Airlines tend to do well when the economy is improving as people travel more for business and leisure. Investors are also optimistic that industrial companies will benefit from an improving economy.

This year's gain: 31 percent.

FINANCIALS: Banks, insurers and other financial stocks have gained on optimism that the industry is healing after the financial crisis and the Great Recession. A recovering housing market is also helping. Genworth Financial, an insurance company, is the biggest gainer among financial stocks, surging 102 percent as its U.S. residential mortgages business recovers.

This year's gain: 30 percent.

CONSUMER STAPLES: Makers of essential, everyday products might not offer the most exciting growth prospects, but they pay a healthy dividend. Companies like Procter & Gamble are particularly attractive to investors as the yields on Treasury notes remain close to record lows.

This year's gain: 22 percent.

ENERGY: U.S. oil prices rose and U.S.-based drillers increased production dramatically, helping push domestic production to the highest level in more than two decades. This boosted the revenue and profits for some companies in the industry. Natural gas producers got a lift as prices rose from the 20-year lows they hit in 2012.

This year's gain: 20 percent.

INFORMATION TECHNOLOGY: Big things were expected from the technology industry at the start of the year. Corporations were supposed to invest in technology to boost productivity. It hasn't happened to the degree investors hoped. The sector has lagged the market. The biggest gainer in the index is chipmaker Micron, which surged 212 percent as demand for its products rose.

This year's gain: 19 percent.

MATERIALS: Sealed Air, which makes Bubble Wrap and other types of packaging, leads gains for the sector. The company's stock has risen 83 percent after returning to profitability. Owens-Illinois, a maker of glass containers for beer, liquor and other beverages, has also posted strong gains as its earnings improve.

This year's gain: 18 percent.

UTILITIES: Power companies are seen as safe and steady. They might not offer good growth prospects, but everybody needs power, and these companies pay a healthy dividend, which is important for investors seeking income.

This year's gain: 10 percent.

TELECOMMUNICATIONS: Phone companies could keep the S&P 500 from its "Perfect 10" status. They are the laggards in the index and the only group falling short of 10 percent gains. These companies are viewed in a similar light to power companies. Demand is steady, but growth prospects are limited. The compensation for investors for holding these stocks is a big dividend payment.

This year's gain: 8 percent.

 

[bigdog]

Source: http://finance.yahoo.com

The stock market vaulted past another milestone on Friday.

The Standard & Poor's 500 index closed above 1,800 for the first time, capping seven straight weeks of gains.

The broader index is on track for its best performance in 15 years as a combination of solid corporate earnings, a strengthening economy and easy-money policies from the Federal Reserve draw investors to stocks. Stocks have also gained because they offer an attractive alternative to bonds, where interest rates remain close to all-time lows.

"You can't really get better returns other than in the stock market," said Peter Cardillo, chief market economist at Rockwell Global Capital. "It's been a quality run-up in stocks."

The S&P 500 index rose 8.91 points, or 0.5 percent, to 1,804.76. The index has advanced 26.5 percent in 2013. If it finishes at that level, it would be its strongest year since a 26.7 percent gain in 1998.

The Dow Jones industrial average also continued its upward march after finishing above 16,000 for the first time Thursday. The index gained 54.78 points, or 0.3 percent, to 16,064.77.

The Nasdaq composite rose 22.49 points, or 0.6 percent, to 3,991.65.

On Friday, health care stocks led the market's rise. Biotechnology company Biogen Idec surged on reports that it won market exclusivity for its top-selling multiple sclerosis drug in Europe. The company's stock jumped $33.19, or 13 percent, to $285.62.

Health care stocks have also led gains in the S&P 500 this year, rising 38 percent. The industry is attractive to investors. Some of its companies, like Biogen Idec, offer the possibility of explosive growth. Others are established players like Pfizer, which pays big dividends. Health insurance companies have also done well this year as the Affordable Care Act rolls out.

Despite their big gains, stocks could continue to rise. The economy is forecast to keep recovering and that helps companies increase their earnings. And while stock valuations have risen, they are still attractive compared with bonds.

However, investors will likely have to look harder to find winning stocks next year, said Paul Hogan, co-manager of the FAM Equity-Income Fund.

"We've had the rising tide, but going forward, it's the stock pickers that will tend to do better."

The NYSE DOW closed HIGHER ▲ 54.78 points or ▲ 0.34% on Friday, 22 November 2013
Symbol …........Last ......Change.....
Dow_Jones 16064.77 ▲ 54.78 ▲ 0.34%
Nasdaq___ 3991.65 ▲ 22.49 ▲ 0.57%
S&P_500__ 1804.76 ▲ 8.91 ▲ 0.50%
30_Yr_Bond 3.838 ▼ -0.045 ▼ -1.16%

NYSE Volume 3,045,104,500
Nasdaq Volume 1,687,384,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6674.3 ▼ -7.03 ▼ -0.11%
DAX_____ 9219.04 ▲ 22.96 ▲ 0.25%
CAC_40__ 4278.53 ▲ 24.63 ▲ 0.58%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5330.3 ▲ 46 ▲ 0.87%
Shanghai_Comp 2196.38 ▼ -9.39 ▼ -0.43%
Taiwan_Weight 8116.78 ▲ 17.33 ▲ 0.21%
Nikkei_225____ 15381.72 ▲ 16.12 ▲ 0.10%
Hang_Seng____ 23696.28 ▲ 115.99 ▲ 0.49%
Strait_Times___ 3172.85 ▲ 0.47 ▲ 0.01%
NZX_50_Index__ 4818 ▼ -0.36 ▼ -0.01%

http://finance.yahoo.com/news/p-500-closes-above-1-221949665.html


S&P 500 closes above 1,800 for first time

S&P 500 closes above 1,800 for the first time; health care stocks lead gains as BioGen jumps

By Steve Rothwell, AP Markets Writers

The stock market vaulted past another milestone on Friday.

The Standard & Poor's 500 index closed above 1,800 for the first time, capping seven straight weeks of gains.

The broader index is on track for its best performance in 15 years as a combination of solid corporate earnings, a strengthening economy and easy-money policies from the Federal Reserve draw investors to stocks. Stocks have also gained because they offer an attractive alternative to bonds, where interest rates remain close to all-time lows.

"You can't really get better returns other than in the stock market," said Peter Cardillo, chief market economist at Rockwell Global Capital. "It's been a quality run-up in stocks."

The S&P 500 index rose 8.91 points, or 0.5 percent, to 1,804.76. The index has advanced 26.5 percent in 2013. If it finishes at that level, it would be its strongest year since a 26.7 percent gain in 1998.

The Dow Jones industrial average also continued its upward march after finishing above 16,000 for the first time Thursday. The index gained 54.78 points, or 0.3 percent, to 16,064.77.

The Nasdaq composite rose 22.49 points, or 0.6 percent, to 3,991.65.

On Friday, health care stocks led the market's rise. Biotechnology company Biogen Idec surged on reports that it won market exclusivity for its top-selling multiple sclerosis drug in Europe. The company's stock jumped $33.19, or 13 percent, to $285.62.

Health care stocks have also led gains in the S&P 500 this year, rising 38 percent. The industry is attractive to investors. Some of its companies, like Biogen Idec, offer the possibility of explosive growth. Others are established players like Pfizer, which pays big dividends. Health insurance companies have also done well this year as the Affordable Care Act rolls out.

Despite their big gains, stocks could continue to rise. The economy is forecast to keep recovering and that helps companies increase their earnings. And while stock valuations have risen, they are still attractive compared with bonds.

However, investors will likely have to look harder to find winning stocks next year, said Paul Hogan, co-manager of the FAM Equity-Income Fund.

"We've had the rising tide, but going forward, it's the stock pickers that will tend to do better."

Among single stocks that have done well this year, there are two standouts, Netflix and Best Buy.

Netflix has surged 276 percent as the video steaming service and DVD rental company continues to add subscribers. Best Buy has surged 232 percent as the company's turnaround strategy appears to be working after a tough 2012.

Still, there are also grounds for caution.

Given the strong gains this year, stocks are no longer a bargain.

"I'm not pounding the table anymore saying this is the cheapest U.S. equity market in decades," said Andres Garcia-Amaya, a global market strategist at J.P. Morgan Funds.

While investors shouldn't necessarily sell, they should temper their expectations for the level of returns, he said.

The price-earnings ratio of S&P 500 companies, a measure of how much investors are willing to pay for a stock in relation to its earnings, has climbed to 14.9 from 12.6 at the start of the year.

Also, the rally in stocks is getting long in the tooth. The S&P 500 has surged more than 160 percent, since the bull market for stocks began 56 months ago ”” in March, 2009. Since the Great Depression, the average bull market for stocks has lasted 57 months.

Investors will also have to deal with the end of the Fed's stimulus program, possibly this year.

The central bank is currently buying $85 billion of bonds a month to hold down long-term interest rates, help support the stock rally. The stock market's only two months of decline this year, in June and August, came when investors fretted that the central bank was poised to start reducing, or tapering, its stimulus. Investors sold Treasury notes, long-term interest rates rose and stocks fell.

"The clear headwind that is on everyone's radar screen is the pace and the timing of the Fed's taper," said Jim Russell, regional investment director at US Bank. "That will prove to be a little bit of an adjustment."

In government bond trading, the yield on the 10-year Treasury note fell to 2.75 percent from 2.79 percent on Thursday. The yield climbed as high as 3 percent Sept. 5, on concern that Fed policy makers were poised to cut their stimulus.

6276

 

[bigdog]

Source: http://finance.yahoo.com

The stock market paused Monday, ending on a mixed note, after a string of records in recent weeks.

Investors had little company-specific news to digest, although the U.S. and other world powers reached a deal to limit Iran's nuclear program, an event that pushed down oil prices and energy stocks.

The slow day represented a pause in the market's strong run-up, capped by another milestone on Friday, when the Standard & Poor's 500 index closed above 1,800 for the first time.

Stocks have soared this year as a combination of solid corporate earnings, a strengthening economy and easy-money policies from the Federal Reserve have drawn investors to stocks. Stocks have also gained because they offer an attractive alternative to bonds, where interest rates remain close to all-time lows.

Despite light trade, Monday did feature another market milestone. The Nasdaq rose as high as 4,007.09, a level it hasn't seen since Sept. 7, 2000, during the dot-com bubble. The index ended up 2.92 points, or 0.1 percent, at 3,994.57.

The Dow Jones industrial average rose eight points, or 0.1 percent, to 16,072.54. Meanwhile, the Standard & Poor's 500 index fell 2 points, or 0.1 percent, to 1,802.48.

The biggest drags on the S&P 500 were energy stocks. Sunday's deal with Iran was the first significant progress in years to curtail that country's nuclear ambitions. It could reduce the risk of conflict, improve trade and boost global oil supplies by making it easier for Iran to sell its crude onto the global market. That could increase global supply and push oil prices lower in the long-term.

Oil fell 75 cents, or 0.8 percent, to $94.09. Energy companies Halliburton, Transocean and Schlumberger all fell 2 percent or more.

Even with Monday's decline, S&P 500 has risen seven straight weeks and is up 26 percent in 2013, its best performance in 15 years.

However, an increasing number of investors believe that stocks have run their course for 2013 and stocks are due for a pullback soon.

The NYSE DOW closed HIGHER ▲ 7.77 points or ▲ 0.05% on Monday, 25 November 2013
Symbol …........Last ......Change.....
Dow_Jones 16072.54 ▲ 7.77 ▲ 0.05%
Nasdaq___ 3994.57 ▲ 2.92 ▲ 0.07%
S&P_500__ 1802.48 ▼ -2.28 ▼ -0.13%
30_Yr_Bond 3.836 ▼ -0.002 ▼ -0.05%

NYSE Volume 2,999,365,750
Nasdaq Volume 1,793,537,250

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6694.62 ▲ 20.32 ▲ 0.30%
DAX_____ 9299.95 ▲ 80.91 ▲ 0.88%
CAC_40__ 4301.97 ▲ 23.44 ▲ 0.55%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5346.1 ▲ 15.8 ▲ 0.30%
Shanghai_Comp 2186.12 ▼ -10.26 ▼ -0.47%
Taiwan_Weight 8187.51 ▲ 70.73 ▲ 0.87%
Nikkei_225____ 15619.13 ▲ 237.41 ▲ 1.54%
Hang_Seng____ 23684.45 ▼ -11.83 ▼ -0.05%
Strait_Times___ 3180.65 ▲ 7.8 ▲ 0.25%
NZX_50_Index__ 4813.88 ▼ -4.12 ▼ -0.09%

http://finance.yahoo.com/news/stocks-end-mixed-quiet-day-222501247.html


Stocks end mixed on quiet day; energy stocks fall

Stocks mixed after Iranian nuclear deal, but energy-stocks fall as oil prices head lower

By Ken Sweet, AP Markets Writer

The stock market paused Monday, ending on a mixed note, after a string of records in recent weeks.

Investors had little company-specific news to digest, although the U.S. and other world powers reached a deal to limit Iran's nuclear program, an event that pushed down oil prices and energy stocks.

The slow day represented a pause in the market's strong run-up, capped by another milestone on Friday, when the Standard & Poor's 500 index closed above 1,800 for the first time.

Stocks have soared this year as a combination of solid corporate earnings, a strengthening economy and easy-money policies from the Federal Reserve have drawn investors to stocks. Stocks have also gained because they offer an attractive alternative to bonds, where interest rates remain close to all-time lows.

Despite light trade, Monday did feature another market milestone. The Nasdaq rose as high as 4,007.09, a level it hasn't seen since Sept. 7, 2000, during the dot-com bubble. The index ended up 2.92 points, or 0.1 percent, at 3,994.57.

The Dow Jones industrial average rose eight points, or 0.1 percent, to 16,072.54. Meanwhile, the Standard & Poor's 500 index fell 2 points, or 0.1 percent, to 1,802.48.

The biggest drags on the S&P 500 were energy stocks. Sunday's deal with Iran was the first significant progress in years to curtail that country's nuclear ambitions. It could reduce the risk of conflict, improve trade and boost global oil supplies by making it easier for Iran to sell its crude onto the global market. That could increase global supply and push oil prices lower in the long-term.

Oil fell 75 cents, or 0.8 percent, to $94.09. Energy companies Halliburton, Transocean and Schlumberger all fell 2 percent or more.

Even with Monday's decline, S&P 500 has risen seven straight weeks and is up 26 percent in 2013, its best performance in 15 years.

However, an increasing number of investors believe that stocks have run their course for 2013 and stocks are due for a pullback soon.

"I would like to see this market take a breather," said Jim Lauder, a fund manager for Wells Fargo Advantage Dow Jones Target Date Funds.

While the Nasdaq is flirting with territory it hasn't seen in 13 years, the index is still down roughly 25 percent from its all-time high of 5,048.62 that it set on March 10, 2000. The index, although still technology heavy, is dominated by highly-profitable companies like Apple, Google and Amazon.

Trading was light Monday and is expected to remain limited all week. Stock and bond markets are closed Thursday in observance of the Thanksgiving holiday. On Friday, the New York Stock Exchange and Nasdaq will close early. Approximately 2.98 billion shares traded hands Monday on the New York Stock Exchange, below the 3.35 billion that is typically traded on an average day.

Investors will focus on Black Friday, when the holiday shopping season officially starts. Due to the lateness of Thanksgiving, the Christmas shopping season is a week shorter than usual, and that could affect the amount of shopping people can do. An increasing number of retailers are opening up on Thanksgiving to draw in customers.

In other news, shares of Wal-Mart rose 62 cents, or 0.8 percent, to $80.43 after the company announced its CEO was stepping down. Alcoa climbed 35 cents, or 4 percent, to $9.59 after Goldman Sachs upgraded the company to "buy" from "neutral," citing potential growth in its aluminum products business.

 

[bigdog]

Source: http://finance.yahoo.com

Upbeat news from the housing industry and luxury retailer Tiffany & Co. nudged the stock market higher Tuesday.

Investors also got another market milestone when the Nasdaq composite closed above the 4,000-point mark for the first time in 13 years.

The event follows two other round-number moments last week. The Standard & Poor's 500 index closed above 1,800 for the first time, and the Dow Jones industrial average finished above 16,000.

On Tuesday, homebuilder shares were among the top gainers in the broader stock market. They rose after the Commerce Department reported that approvals for housing permits rose in October at the fastest pace in five years. Those applications indicate that builders expect heightened demand.

Most of the growth in the report came from apartment permits, not homes, but investors felt the data was positive.

"It's going to translate into job creation once those permits turn into actual construction," said Quincy Krosby, market strategist with Prudential Financial.

Shares of PulteGroup, Toll Brothers and Lennar Corp. all rose 3 percent or more.

The Nasdaq closed up 23.18 points, or 0.6 percent, to 4,017.75. The last time the Nasdaq closed above the 4,000-point level was Sept. 6, 2000.

The other two major stock indexes inched higher. The Dow rose less than a point to 16,072.80. The S&P 500 index also rose less than a point, to 1,802.75.

Tiffany & Co. rose the most in the S&P 500 index. The jewelry chain jumped $7.03, or 9 percent, to $88.02, after it reported strong third-quarter earnings. The company also raised its full-year forecast.

Stock and bond markets are closed Thursday in observance of Thanksgiving. On Friday, the New York Stock Exchange and Nasdaq will close early.

Investors continue to pay close attention to any details from retailers, with the approach of Black Friday, the busy shopping day that follows Thanksgiving.

The NYSE DOW closed HIGHER ▲ 0.26 points or ▲ 0.00% on Tuesday, 26 November 2013
Symbol …........Last ......Change.....
Dow_Jones 16072.8 ▲ 0.26 ▲ 0.00%
Nasdaq___ 4017.75 ▲ 23.18 ▲ 0.58%
S&P_500__ 1802.75 ▲ 0.27 ▲ 0.01%
30_Yr_Bond 3.785 ▼ -0.051 ▼ -1.33%

NYSE Volume 3,312,808,750
Nasdaq Volume 1,895,873,880

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6636.22 ▼ -58.4 ▼ -0.87%
DAX_____ 9290.07 ▼ -9.88 ▼ -0.11%
CAC_40__ 4277.57 ▼ -24.4 ▼ -0.57%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5350.6 ▲ 4.5 ▲ 0.08%
Shanghai_Comp 2183.07 ▼ -3.04 ▼ -0.14%
Taiwan_Weight 8248.02 ▲ 60.51 ▲ 0.74%
Nikkei_225____ 15515.24 ▼ -103.89 ▼ -0.67%
Hang_Seng____ 23681.28 ▼ -3.17 ▼ -0.01%
Strait_Times___ 3173.51 ▼ -7.14 ▼ -0.22%
NZX_50_Index__ 4790.75 ▼ -23.13 ▼ -0.48%

http://finance.yahoo.com/news/dow-p-500-nudge-higher-214437033.html


Dow, S&P 500 nudge higher; Nasdaq ends above 4,000

US stocks notch slight gains, helped by homebuilder shares; Nasdaq closes above 4,000

By Ken Sweet, AP Markets Writer

Upbeat news from the housing industry and luxury retailer Tiffany & Co. nudged the stock market higher Tuesday.

Investors also got another market milestone when the Nasdaq composite closed above the 4,000-point mark for the first time in 13 years.

The event follows two other round-number moments last week. The Standard & Poor's 500 index closed above 1,800 for the first time, and the Dow Jones industrial average finished above 16,000.

On Tuesday, homebuilder shares were among the top gainers in the broader stock market. They rose after the Commerce Department reported that approvals for housing permits rose in October at the fastest pace in five years. Those applications indicate that builders expect heightened demand.

Most of the growth in the report came from apartment permits, not homes, but investors felt the data was positive.

"It's going to translate into job creation once those permits turn into actual construction," said Quincy Krosby, market strategist with Prudential Financial.

Shares of PulteGroup, Toll Brothers and Lennar Corp. all rose 3 percent or more.

The Nasdaq closed up 23.18 points, or 0.6 percent, to 4,017.75. The last time the Nasdaq closed above the 4,000-point level was Sept. 6, 2000.

The other two major stock indexes inched higher. The Dow rose less than a point to 16,072.80. The S&P 500 index also rose less than a point, to 1,802.75.

Tiffany & Co. rose the most in the S&P 500 index. The jewelry chain jumped $7.03, or 9 percent, to $88.02, after it reported strong third-quarter earnings. The company also raised its full-year forecast.

Stock and bond markets are closed Thursday in observance of Thanksgiving. On Friday, the New York Stock Exchange and Nasdaq will close early.

Investors continue to pay close attention to any details from retailers, with the approach of Black Friday, the busy shopping day that follows Thanksgiving.

Due to the lateness of Thanksgiving, the holiday shopping season is a week shorter than usual and that could affect the amount of shopping people do. An increasing number of retailers are opening up on Thanksgiving to draw in customers.

Holiday shopping can account for as much as 40 percent of the retail industry's annual sales. The National Retail Federation, the nation's largest retail trade group, expects an increase of 3.9 percent to $602.1 billion in holiday sales this year

Already, many retailers have trimmed profit forecasts for the year, citing Americans' hesitation to spend a lot of money. Barnes & Noble shares fell 98 cents, or 6 percent, to $15.45 after the bookseller's fiscal second-quarter sales fell short of Wall Street expectations.

In other company news, men's clothing store Jos. A. Bank rose $5.69, or 11 percent, to $56.29 after rival Men's Wearhouse offered to buy the company for $1.5 billion. Men's Wearhouse rose $3.53, or 8 percent, to $50.60.

 

[bigdog]

Source: http://finance.yahoo.com

Technology companies lifted the stock market Wednesday, keeping major indexes at record levels.

Hewlett-Packard surged, leading the gains for tech companies, after it posted a $1.4 billion profit for its latest quarter. The world's second-largest maker of PCs also issued a strong profit forecast for its current quarter.

Stocks also got a boost from some encouraging news about the U.S. economy.

In a sign that workers are in less danger of being laid off, the number of Americans seeking unemployment benefits dropped 10,000 last week to a seasonally adjusted 316,000, according to the U.S. Labor Department. In another bit of good news, consumer confidence rose in November, according to a private survey by the University of Michigan and financial data company Thomson Reuters.

"Today's economic news was generally favorable," said Terry Sandven, chief equity strategist for U.S. Bank Wealth Management. "In the absence of bad news, the path of least resistance for equities is up."

The stock market has surged this year on a combination of solid corporate earnings, a slowly recovering economy and easy-money policies from the Federal Reserve. The Fed is buying $85 billion in bonds every month to keep long-term interest rates low, making stocks more attractive than bonds for investors.

On Wednesday, the Standard & Poor's 500 index climbed four points, or 0.3 percent, to close at an all-time high of 1,807.23.

The Dow Jones industrial average rose 24 points, or 0.2 percent, to close at its own record high of 16,097.33. The blue-chip index finished higher for a fifth straight day, its longest winning streak since March.

The Nasdaq composite advanced 27 points, or 0.7 percent, to 4,044.75. The index closed above 4,000 for the first time in 13 years Tuesday.

The S&P 500 has risen 26.7 percent this year, putting it on course for its best annual performance since 1998. Much of the gain has come because investors have been willing to pay more for a company's stock in relation to its earnings.

The price-earnings ratio for S&P 500 companies has climbed to 15.1 from 12.6 at the start of the year. But it is still below the average ratio of 16.5 for the last 20 years.

"When times are good, you have to ask if it's a sign that things are about to become bad," said Art Steinmetz, President & Chief Investment Officer at Oppenheimer Funds. But Steinmetz feels reasonably hopeful that stock valuations "are not overstretched."

The NYSE DOW closed HIGHER ▲ 24.53 points or ▲ 0.15% on Wednesday, 27 November 2013
Symbol …........Last ......Change.....
Dow_Jones 16097.33 ▲ 24.53 ▲ 0.15%
Nasdaq___ 4044.75 ▲ 27 ▲ 0.67%
S&P_500__ 1807.23 ▲ 4.48 ▲ 0.25%
30_Yr_Bond 3.812 ▲ 0.027 ▲ 0.71%

NYSE Volume 2,607,335,000
Nasdaq Volume 1,476,213,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6649.47 ▲ 13.25 ▲ 0.20%
DAX_____ 9351.13 ▲ 61.06 ▲ 0.66%
CAC_40__ 4293.06 ▲ 15.49 ▲ 0.36%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5324.9 ▼ -25.7 ▼ -0.48%
Shanghai_Comp 2201.07 ▲ 18 ▲ 0.82%
Taiwan_Weight 8295.88 ▲ 47.86 ▲ 0.58%
Nikkei_225____ 15449.63 ▼ -65.61 ▼ -0.42%
Hang_Seng____ 23806.35 ▲ 125.07 ▲ 0.53%
Strait_Times___ 3172.06 ▼ -1.45 ▼ -0.05%
NZX_50_Index__ 4799.35 ▲ 8.6 ▲ 0.18%

http://finance.yahoo.com/news/stocks-climb-hp-advances-earnings-220304442.html

Stocks climb after HP advances on earnings

Technology leads stock market gains after Hewlett-Packard earnings; jobless claims fall

By Steve Rothwell, AP Markets Writer

echnology companies lifted the stock market Wednesday, keeping major indexes at record levels.

Hewlett-Packard surged, leading the gains for tech companies, after it posted a $1.4 billion profit for its latest quarter. The world's second-largest maker of PCs also issued a strong profit forecast for its current quarter.

Stocks also got a boost from some encouraging news about the U.S. economy.

In a sign that workers are in less danger of being laid off, the number of Americans seeking unemployment benefits dropped 10,000 last week to a seasonally adjusted 316,000, according to the U.S. Labor Department. In another bit of good news, consumer confidence rose in November, according to a private survey by the University of Michigan and financial data company Thomson Reuters.

"Today's economic news was generally favorable," said Terry Sandven, chief equity strategist for U.S. Bank Wealth Management. "In the absence of bad news, the path of least resistance for equities is up."

The stock market has surged this year on a combination of solid corporate earnings, a slowly recovering economy and easy-money policies from the Federal Reserve. The Fed is buying $85 billion in bonds every month to keep long-term interest rates low, making stocks more attractive than bonds for investors.

On Wednesday, the Standard & Poor's 500 index climbed four points, or 0.3 percent, to close at an all-time high of 1,807.23.

The Dow Jones industrial average rose 24 points, or 0.2 percent, to close at its own record high of 16,097.33. The blue-chip index finished higher for a fifth straight day, its longest winning streak since March.

The Nasdaq composite advanced 27 points, or 0.7 percent, to 4,044.75. The index closed above 4,000 for the first time in 13 years Tuesday.

The S&P 500 has risen 26.7 percent this year, putting it on course for its best annual performance since 1998. Much of the gain has come because investors have been willing to pay more for a company's stock in relation to its earnings.

The price-earnings ratio for S&P 500 companies has climbed to 15.1 from 12.6 at the start of the year. But it is still below the average ratio of 16.5 for the last 20 years.

"When times are good, you have to ask if it's a sign that things are about to become bad," said Art Steinmetz, President & Chief Investment Officer at Oppenheimer Funds. But Steinmetz feels reasonably hopeful that stock valuations "are not overstretched."

In other corporate news, Analog Devices fell $1.38, or 3 percent, to $48.54 after the chipmaker reported sales late Tuesday that missed Wall Street estimates. The Norwood, Mass., company expects a seasonal slowdown to hurt revenue during the holidays.

Trading volumes were lower than average ahead of Thursday's Thanksgiving holiday, when financial markets will be closed. The New York Stock exchange and the Nasdaq will also close early on Friday.

The yield on the 10-year Treasury note rose to 2.74 percent, up from 2.71 percent on Tuesday.

The price of oil dropped to its lowest level in six months as the U.S. government reported the 10th straight weekly increase in crude supplies. Oil dropped $1.38, or 2 percent, to $92.30 a barrel.

Exxon Mobil and Chevron, both members of the 30-company Dow, declined. Exxon Mobil fell 47 cents, or 0.5 percent, to $93.80. Chevron fell 36 cents, or 0.4 percent, to $122.42.

In other commodities trading, Gold fell $3.60, or 0.3 percent, to $1,237.80 an ounce.

 

[bigdog]

Source: http://finance.yahoo.com

NYSE CLOSED FOR THANKSGIVING HOLIDAY THURSDAY NOVEMBER 28 2013

Japan's stock index was the standout performer Thursday, surging to its highest level in almost six years as the yen fell amid speculation that the country's monetary policy will be eased further.

On a day when trading levels are low because of the Thanksgiving holiday in the U.S., the Nikkei 225 helped shore up markets around the world, as it advanced 1.8 percent to 15,727.12, its highest close since late 2007.

The benchmark's surge has been driven by the Japanese currency's slump to its lowest in half a year. The dollar strengthened to a high of 102.38 yen as traders bet on more monetary easing from the central bank as it tries to revive the world's third biggest economy.

Japan's powerhouse exporters are potentially the biggest beneficiaries of the yen's weakness, as buyers may find it cheaper to purchase cars and electronics made by export manufacturers such as Toyota and Sony.

"The Nikkei remains the world beater this year, up more than 51 percent in 2013," said Robert Kavcic, an analyst at BMO Capital Markets.

In Europe, Germany's DAX closed up 0.43 percent at 9,387.37, while the CAC-40 in France rose 0.2 percent to 4,302.42. The FTSE 100 index of leading British shares ended 0.1 percent higher at 6,654.47.

A survey from the European Commission, showing economic sentiment in the 17-country eurozone at a 27-month high in November had little impact in either stock markets or in the currency markets, where the euro was trading 0.1 percent higher at $1.3600.

Potentially more interesting will be Friday's official inflation figures. Another fall from October's 0.7 percent rate could stoke speculation of further monetary easing from the European Central Bank, weighing on the euro.

Earlier in Asia, South Korea's Kospi rose 0.8 percent to 2,045.77 and China's Shanghai Composite added 0.8 percent to 2,219.37. Australia's S&P/ASX 200 edged up less than 0.1 percent to 5,334.30.

The NYSE DOW closed HIGHER ▲ 24.53 points or ▲ 0.15% on Wednesday, 27 November 2013 - NYSE CLOSED FOR THANKSGIVING HOLIDAY THURSDAY NOVEMBER 28
Symbol …........Last ......Change.....
Dow_Jones 16097.33 ▲ 24.53 ▲ 0.15%
Nasdaq___ 4044.75 ▲ 27 ▲ 0.67%
S&P_500__ 1807.23 ▲ 4.48 ▲ 0.25%
30_Yr_Bond 3.812 ▲ 0.027 ▲ 0.71%

NYSE Volume 2,607,335,000
Nasdaq Volume 1,476,213,380

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6654.47 ▲ 5 ▲ 0.08%
DAX_____ 9387.37 ▲ 36.24 ▲ 0.39%
CAC_40__ 4302.42 ▲ 9.36 ▲ 0.22%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5326.6 ▲ 1.7 ▲ 0.03%
Shanghai_Comp 2219.37 ▲ 18.3 ▲ 0.83%
Taiwan_Weight 8362.43 ▲ 66.55 ▲ 0.80%
Nikkei_225____ 15727.12 ▲ 277.49 ▲ 1.80%
Hang_Seng____ 23789.09 ▼ -17.26 ▼ -0.07%
Strait_Times___ 3186.37 ▲ 14.31 ▲ 0.45%
NZX_50_Index__ 4809.46 ▲ 10.1 ▲ 0.21%

http://finance.yahoo.com/news/japans-nikkei-standout-us-holiday-174729711.html


Japan's Nikkei standout in US holiday-hit markets

Japanese stocks near six-year high on yen weakness; trading elsewhere subdued by Thanksgiving

By Pan Pylas and Kelvin Chan

LONDON (AP) -- Japan's stock index was the standout performer Thursday, surging to its highest level in almost six years as the yen fell amid speculation that the country's monetary policy will be eased further.

On a day when trading levels are low because of the Thanksgiving holiday in the U.S., the Nikkei 225 helped shore up markets around the world, as it advanced 1.8 percent to 15,727.12, its highest close since late 2007.

The benchmark's surge has been driven by the Japanese currency's slump to its lowest in half a year. The dollar strengthened to a high of 102.38 yen as traders bet on more monetary easing from the central bank as it tries to revive the world's third biggest economy.

Japan's powerhouse exporters are potentially the biggest beneficiaries of the yen's weakness, as buyers may find it cheaper to purchase cars and electronics made by export manufacturers such as Toyota and Sony.

"The Nikkei remains the world beater this year, up more than 51 percent in 2013," said Robert Kavcic, an analyst at BMO Capital Markets.

In Europe, Germany's DAX closed up 0.43 percent at 9,387.37, while the CAC-40 in France rose 0.2 percent to 4,302.42. The FTSE 100 index of leading British shares ended 0.1 percent higher at 6,654.47.

A survey from the European Commission, showing economic sentiment in the 17-country eurozone at a 27-month high in November had little impact in either stock markets or in the currency markets, where the euro was trading 0.1 percent higher at $1.3600.

Potentially more interesting will be Friday's official inflation figures. Another fall from October's 0.7 percent rate could stoke speculation of further monetary easing from the European Central Bank, weighing on the euro.

Earlier in Asia, South Korea's Kospi rose 0.8 percent to 2,045.77 and China's Shanghai Composite added 0.8 percent to 2,219.37. Australia's S&P/ASX 200 edged up less than 0.1 percent to 5,334.30.

The Philippines PSE Composite index soared nearly 2 percent after the government reported that the economy grew 7 percent in the third quarter. However, Hong Kong's Hang Seng slid in the final hour of trading to close 0.1 percent lower at 23,789.09.

Elsewhere, the benchmark New York contract for crude oil was down 15 cents at $92.15 a barrel. Oil prices have drifted lower in recent weeks as geopolitical concerns regarding Syria have subsided and following an international- agreement this week over Iran's nuclear plans.

 

[bigdog]

Source: http://finance.yahoo.com

The stock market fizzled Friday at the end of a holiday-shortened trading day, but still logged its longest streak of weekly gains in a decade.

The Standard & Poor's 500 index ended down one point, or 0.1 percent, to 1,805.81. The Dow Jones industrial average slipped 10 points, or 0.1 percent, to 16,086.41.

Investors watched for early trends in holiday sales as the busiest shopping day of the year, Black Friday, got underway. Retailers were one of two industry groups in the S&P 500 to rise.

Stocks overall have surged this year as the economy maintains a slow but steady recovery and corporations keep earnings growing. Demand for stocks also has been bolstered by Federal Reserve policies that have held down interest rates, making bonds less attractive investments than stocks.

Stocks rose for most of the day Friday, but petered out in the last half hour of trading. The New York Stock Exchange and the Nasdaq closed early, at 1 p.m. Eastern Time, and activity was lower than average a day after Thanksgiving. Thin trading can lead to sudden swings in markets.

Although the S&P 500 and Dow slipped, the Nasdaq composite rose 15 points, or 0.4 percent, to end at 4,059.89. The index has surged 34 percent this year, more than the other two indexes.

And even though the S&P 500 eased Friday, it still rose for an eighth straight week, its longest stretch of weekly advances in a decade.

The S&P 500 index has surged 26.6 percent this year, propelling it to a string of record highs. If its gain holds, it would be the strongest year for the index since 1998, when it rose 26.7 percent.

November is typically a strong month for the stock market, and this year was no exception. The S&P 500 ended the month with a gain of 2.8 percent, the ninth month this year that the index has advanced.

Returns for the month rank as the third best for the Dow and the S&P 500, according to the Stock Trader's Almanac, which has analyzed data going back to 1950.


The broad stock index saw two of its 10 industry groups rise. One of them was consumer discretionary companies as investors hoped for improved holiday sales.

More than a dozen major chains opened on Thanksgiving Day and planned to keep their doors open through Friday, the traditional start to the holiday shopping season. Crowds formed early and often throughout the two days.

The NYSE DOW closed LOWER ▼ -10.92 points or ▼ -0.07% on Friday, 29 November 2013
Symbol …........Last ......Change.....
Dow_Jones 16086.41 ▼ -10.92 ▼ -0.07%
Nasdaq___ 4059.89 ▲ 15.14 ▲ 0.37%
S&P_500__ 1805.81 ▼ -1.42 ▼ -0.08%
30_Yr_Bond 3.808 ▼ -0.004 ▼ -0.10%

NYSE Volume 1,593,930,880
Nasdaq Volume 852,200,310

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6650.57 ▼ -3.9 ▼ -0.06%
DAX_____ 9405.3 ▲ 17.93 ▲ 0.19%
CAC_40__ 4295.21 ▼ -7.21 ▼ -0.17%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5314.3 ▼ -12.3 ▼ -0.23%
Shanghai_Comp 2220.5 ▲ 1.13 ▲ 0.05%
Taiwan_Weight 8406.83 ▲ 44.4 ▲ 0.53%
Nikkei_225____ 15661.87 ▼ -65.25 ▼ -0.41%
Hang_Seng____ 23881.29 ▲ 92.2 ▲ 0.39%
Strait_Times___ 3176.35 ▼ -10.02 ▼ -0.31%
NZX_50_Index__ 4794.95 ▼ -14.5 ▼ -0.30%

http://finance.yahoo.com/news/p-500-gains-8th-straight-185751655.html

S&P 500 gains for 8th straight week

S&P 500 gains for 8th straight week, its best stretch in a decade, as holiday shopping begins

By Steve Rothwell, AP Markets Writer

The stock market fizzled Friday at the end of a holiday-shortened trading day, but still logged its longest streak of weekly gains in a decade.

The Standard & Poor's 500 index ended down one point, or 0.1 percent, to 1,805.81. The Dow Jones industrial average slipped 10 points, or 0.1 percent, to 16,086.41.

Investors watched for early trends in holiday sales as the busiest shopping day of the year, Black Friday, got underway. Retailers were one of two industry groups in the S&P 500 to rise.

Stocks overall have surged this year as the economy maintains a slow but steady recovery and corporations keep earnings growing. Demand for stocks also has been bolstered by Federal Reserve policies that have held down interest rates, making bonds less attractive investments than stocks.

Stocks rose for most of the day Friday, but petered out in the last half hour of trading. The New York Stock Exchange and the Nasdaq closed early, at 1 p.m. Eastern Time, and activity was lower than average a day after Thanksgiving. Thin trading can lead to sudden swings in markets.

Although the S&P 500 and Dow slipped, the Nasdaq composite rose 15 points, or 0.4 percent, to end at 4,059.89. The index has surged 34 percent this year, more than the other two indexes.

And even though the S&P 500 eased Friday, it still rose for an eighth straight week, its longest stretch of weekly advances in a decade.

The broad stock index saw two of its 10 industry groups rise. One of them was consumer discretionary companies as investors hoped for improved holiday sales.

More than a dozen major chains opened on Thanksgiving Day and planned to keep their doors open through Friday, the traditional start to the holiday shopping season. Crowds formed early and often throughout the two days.

Investors will be following sales trends closely to get a read on the health of retailers, as well as the wider economy. Consumer spending is a critical component of the U.S. economy.

Retail sales are expected to rise 4 percent to $602 billion during the last two months of the year, according to the National Retail Federation. That's higher than last year's 3.5 percent growth, but lower than the 6 percent pace from before the recession.

But sales could come at the expense of profits, analysts expect, as retailers are likely to use more discounting to draw in customers.

Shares of EBay, Amazon and Best Buy all advanced. EBay rose $1.22, or 3 percent, to $50.52, making it the second-biggest gainer in the S&P 500 index.

"The early signs of retail traffic are encouraging, but it's still very early," said Paul Mangus, head of equity research and strategy for Wells Fargo Private Bank.

The S&P 500 index has surged 26.6 percent this year, propelling it to a string of record highs. If its gain holds, it would be the strongest year for the index since 1998, when it rose 26.7 percent.

November is typically a strong month for the stock market, and this year was no exception. The S&P 500 ended the month with a gain of 2.8 percent, the ninth month this year that the index has advanced.

Returns for the month rank as the third best for the Dow and the S&P 500, according to the Stock Trader's Almanac, which has analyzed data going back to 1950.

An unexpectedly robust jobs report gave stocks a lift at the start of the month, and strong corporate earnings reports for the third quarter helped maintain the momentum.

Almost all of the companies in the S&P 500 have reported their third-quarter earnings. Profits are forecast to increase by 5.7 percent compared with the same period a year ago, according to data from S&P Capital IQ. Earnings growth is also better than then 4.9 percent achieved in the second-quarter.

"November is a time when investors evaluate earnings reports, and if share prices are the yardstick that you're looking at, then investors liked what they saw," said Lawrence Creatura, a portfolio manager at Federated Investors.

In government bond trading, the yield on the 10-year Treasury note rose to 2.75 percent from 2.73 percent on Wednesday.

6927

 

[bigdog]

Source: http://finance.yahoo.com

The final month of a stellar year for stocks began with a thud.

All three major indexes closed lower Monday, the first day of trading in December. Investors sold shares on signs that American shoppers ”” that seemingly inexhaustible fuel of global economic growth ”” may hold tight to their cash this holiday season.

Shoppers turned out in record numbers over the four-day Thanksgiving weekend, but plunked down less cash than they did last year. It was the first decline in Thanksgiving weekend spending since a retail trade group began tracking it in 2006.

Investors reacted by selling all types of retailer stocks, from department stores to specialty chains. J.C. Penney, Macy's and Target fell about 2 percent each. Urban Outfitters dropped nearly 4 percent.

"This holiday season is not going to be a gangbuster," said Lindsey Piegza, chief economist of Sterne Agee. "Retailers are bracing for declining activity from now to the beginning of the year."

One big exception to the retailer doldrums was Ebay, which rose 1.5 percent thanks to strong sales at its online auctions.

The Dow Jones industrial average has surged 22 percent this year and, if history holds, will add to that gain this month. The Dow has risen in December in three out of every four years going back to 1950, according to the Stock Trader's Almanac. The average gain: 1.7 percent.

On Monday, the Dow fell 77.64 points, or 0.5 percent, to 16,008.77. The Standard & Poor's 500 index dropped 4.91 points, or 0.3 percent, to 1,800.90. The Nasdaq composite fell 14.63 points, or 0.4 percent, to 4,045.26.

The government reported that developers boosted construction spending in October at the fastest pace in more than four years. A separate survey showed that manufacturing activity rose at its fastest pace in 2 ½ years.

Joseph S. Tanious, global market strategist at JPMorgan, said he was encouraged by the reports but that many investors ignored them. He said people have made too much money in the market already this year and are playing it safe by locking in gains.

"Investors are looking for reasons to sell," Tanious said. "But I think the markets will move higher between here and the year-end."

The NYSE DOW closed LOWER ▼ -77.64 points or ▼ -0.48% on Monday, 2 December 2013
Symbol …........Last ......Change.....
Dow_Jones 16008.77 ▼ -77.64 ▼ -0.48%
Nasdaq___ 4045.26 ▼ -14.63 ▼ -0.36%
S&P_500__ 1800.9 ▼ -4.91 ▼ -0.27%
30_Yr_Bond 3.86 ▲ 0.052 ▲ 1.37%

NYSE Volume 3,075,410,250
Nasdaq Volume 1,668,466,120

Europe
Symbol... .....Last ….....Change.......
FTSE_100 6595.33 ▼ -55.24 ▼ -0.83%
DAX_____ 9401.96 ▼ -3.34 ▼ -0.04%
CAC_40__ 4285.81 ▼ -9.4 ▼ -0.22%

Asia Pacific
Symbol...... ….....Last .....Change…......
ASX_All_Ord__ 5273.5 ▼ -40.8 ▼ -0.77%
Shanghai_Comp 2207.37 ▼ -13.13 ▼ -0.59%
Taiwan_Weight 8414.61 ▲ 7.78 ▲ 0.09%
Nikkei_225____ 15655.07 ▼ -6.8 ▼ -0.04%
Hang_Seng____ 24038.55 ▲ 157.26 ▲ 0.66%
Strait_Times___ 3188.76 ▲ 12.41 ▲ 0.39%
NZX_50_Index__ 4792.33 ▼ -2.62 ▼ -0.05%

http://finance.yahoo.com/news/stocks-fall-disappointing-thanksgiving-sales-220453351.html

Stocks fall on disappointing Thanksgiving sales

Stocks fall on disappointing Thanksgiving holiday sales

By Bernard Condon, AP Business Writer

The final month of a stellar year for stocks began with a thud.

All three major indexes closed lower Monday, the first day of trading in December. Investors sold shares on signs that American shoppers ”” that seemingly inexhaustible fuel of global economic growth ”” may hold tight to their cash this holiday season.

Shoppers turned out in record numbers over the four-day Thanksgiving weekend, but plunked down less cash than they did last year. It was the first decline in Thanksgiving weekend spending since a retail trade group began tracking it in 2006.

Investors reacted by selling all types of retailer stocks, from department stores to specialty chains. J.C. Penney, Macy's and Target fell about 2 percent each. Urban Outfitters dropped nearly 4 percent.

"This holiday season is not going to be a gangbuster," said Lindsey Piegza, chief economist of Sterne Agee. "Retailers are bracing for declining activity from now to the beginning of the year."

One big exception to the retailer doldrums was Ebay, which rose 1.5 percent thanks to strong sales at its online auctions.

The Dow Jones industrial average has surged 22 percent this year and, if history holds, will add to that gain this month. The Dow has risen in December in three out of every four years going back to 1950, according to the Stock Trader's Almanac. The average gain: 1.7 percent.

On Monday, the Dow fell 77.64 points, or 0.5 percent, to 16,008.77. The Standard & Poor's 500 index dropped 4.91 points, or 0.3 percent, to 1,800.90. The Nasdaq composite fell 14.63 points, or 0.4 percent, to 4,045.26.

The government reported that developers boosted construction spending in October at the fastest pace in more than four years. A separate survey showed that manufacturing activity rose at its fastest pace in 2 ½ years.

Joseph S. Tanious, global market strategist at JPMorgan, said he was encouraged by the reports but that many investors ignored them. He said people have made too much money in the market already this year and are playing it safe by locking in gains.

"Investors are looking for reasons to sell," Tanious said. "But I think the markets will move higher between here and the year-end."

Stocks have soared as the economy maintains a slow but steady recovery and companies continue to increase earnings. Demand for stocks also has been bolstered by Federal Reserve purchases of $85 billion of bonds each month. The goal is to hold down interest rates, make bonds less attractive than stocks, and stimulate the economy.

Stock investors are waiting for a government report on jobs Friday for clues about whether the stimulus policy is working and when the Fed will ease off its bond purchases. Investors have sold on days when they feared a Fed pullback was imminent.

In government bond trading, the yield on the 10-year note climbed to 2.80 percent, from 2.75 percent. The yield was as low as 1.63 percent in early May.

Phone companies led the broader market lower Monday. Investors typically buy those stocks because they pay big dividends, providing income. When interest rates climb investors sell them because the income is less attractive compared with higher bond yields.

Other stocks making big moves:

”” 3M plunged $5.83, or 4.4 percent, to $127.68 after Morgan Stanley downgraded the stock. It was the biggest loser in the Dow and the S&P 500.

”” Forest Laboratories surged $5.01 to $56.32, or 10 percent, the biggest gain in the S&P 500. The drugmaker expects to cut jobs as part of a plan to trim $500 million in costs, and spend at least $400 million buying back its stock.

”” Dow Chemical rose 92 cents, or 2.4 percent, to $39.98. The company plans to either sell or spin off about 40 manufacturing plants as it moves away from making cyclical commodities, products whose demand is closely tied to the ebbs and flows of the economy.