Posts Tagged Dow Jones Industrial Average
Stronger dollar, weak economic data pummels stocks
Posted by Tetyana Matychak in Fund Markets on November 26th, 2009
A stronger dollar and more discouraging signs of a subdued economic recovery triggered a broad sell-off in stocks.
Major indexes tumbled more than 1 percent Thursday, including the Dow Jones industrials, which fell about 133 points.
Energy and material stocks showed the biggest losses as a jump in the dollar sent commodity prices tumbling. Meanwhile, an analyst’s downgrade of the chip sector pulled technology shares sharply lower.
Analysts said the dollar was the biggest force behind Thursday’s trading, as it has been in recent months. A stronger dollar makes commodities more expensive to foreign buyers, and companies that produce the commodities make less money from them.
“There might be a little fear out there about dollar strengthening, as well as some natural profit-taking opportunities,”said Dan Cook, senior market analyst at IG Markets Inc. in Chicago.”We’ve been on an amazing run.” Read the rest of this entry »
UK Stocks — Factors to watch
Posted by Tetyana Matychak in Favourites, Fund Markets on October 16th, 2009
Britain’s FTSE 100 .FTSE index is seen opening up as much as 0.4 percent, according to financial bookmakers, drawing strength from Wall Street where the Dow Jones industrial average .DJI passed the 10,000 level for the first time in a year on earnings optimism.
The FTSE 100 closed 2 percent higher at 5,256.10 on Wednesday, hitting its
highest closing level in more than a year after upbeat quarterly earnings from JPMorgan Chase (JPM.N) gave a further boost to market sentiment in the wake of Intel’s (INTC.O) forecast-beating results.
Shares in Asia .MIAPJ0000PUS rose to their highest since August last year,
while Japanese stocks jumped 2 percent as investors bought exporters who might benefit from rising U.S. demand.
Later on Thursday results are due from Goldman Sachs (GS.N) and Citigroup
(C.N). No British economic data is expected on Thursday, leaving the focus on U.S. CPI figures for September, due at 1230 GMT.
* Nikkei up 1.5 pct after JPMorgan, U.S. retail data [ID:nT328702]
* Dow passes 10,000 mark on earnings optimism [ID:nN14267035]
* Aussie rise sparks broad dollar fall to 14-mth lows [ID:nT77862]
* Bonds sag, Wall Street rally parares safety bid [ID:nN14260466]
* Asia shares hit 14-mth peak, dollar slumps [ID:nSP409405]
* Copper rises on weak dollar, optimism on recovery [ID:nSHA76130]
* Gold steady above $1,060 on dollar, oil [ID:nT83451]
* Oil rises towards $76 on U.S. inventories, economy [ID:nSIN546046] Read the rest of this entry »
Futures Fall Ahead of Data Deluge
Posted by Tetyana Matychak in Fund Markets on October 1st, 2009
U.S. stocks futures are indicating a lower open Thursday as investors paused for breath ahead of a flood of economic data.
Less than two hours before the start of trading, Dow Jones Industrial Average futures were 46 points lower at 9607. The S&P 500 futures slipped 5.4 to 1047.5, and Nasdaq 100 futures lost 8.75 to 1708.75. Changes in futures do not always accurately predict early market moves after the opening bell.
U.S. stocks weakened Wednesday on the final day of the third quarter, with the Dow Jones Industrial Average retreating 30 points, the Nasdaq Composite losing 2 points and the S&P 500 slipping 4 points. Weak economic data on jobs and a Chicago-area poll contributed to the bearish tone.
However, the stock market ended near its highs for the year, with many of the riskiest stocks leading the charge.
As the curtain goes up on the fourth quarter Thursday, investors are bracing for a deluge of economic releases. The Labor Department has its weekly jobless claims report and the National Association of Realtors has pending home sales figures. Personal income and the related PCE deflation inflation gauge for August, the Institute for Supply Management’s manufacturing gauge for September, construction spending for August and car sales data for September are also expected. Read the rest of this entry »
US Stocks Slide As US-China Trade Relations Hit A Rough Patch
Posted by Tetyana Matychak in Fund Markets on September 14th, 2009
U.S. stocks fell as trade relations between the U.S. and China turned rockier, with the energy and financial sectors under pressure.
Shortly after the opening bell, the Dow Jones Industrial Average was lower by about 62 points. The S&P 500 was down about 0.6%. The Nasdaq Composite Index slipped 0.4%.
Escalating trade tensions between the U.S. and China rattled overseas markets. The U.S. over the weekend imposed tariffs on Chinese-made tires, while China said it planned an antidumping investigation into U.S. sales of chicken and auto products.
In Asia, most markets lost ground. The Nikkei tumbled 2.3% on concerns that the strengthened yen could put a dent in exporters’ earnings. Hong Kong’s Hang Seng ended 1.1% lower at 20932.20, while Australia’s S&P/ASX 200 fell 1.4% and South Korea’s Kospi dropped 1%. Major benchmarks in Europe also fell. Read the rest of this entry »
Jobless claims show labor market may slow recovery
Posted by Tetyana Matychak in Budget on September 7th, 2009
New claims for jobless aid fell less than expected last week, and the number of people continuing to receive unemployment benefits rose - further signs that any economic recovery will be hindered by a weak job market and flat incomes.
Most economists think the recession is over, but they say the jobless rate will keep rising until at least next summer as the economy struggles to mount a sustained recovery. That means household incomes will remain depressed and consumer spending, which accounts for 70 percent of the economy, will continue to lag.
“Firms are still not hiring, and that reflects deep pessimism about the sustainability of the economic recovery once government stimulus programs wear off,”said Sal Guatieri, senior economist at BMO Capital Markets.”The lack of job creation remains a big headwind for cash-starved and credit-constrained consumers.”
The nation’s major retailers on Thursday reported lackluster results from August back-to-school sales. Results in established stores fell 2.1 percent in August compared with the same month last year, a compilation of 31 retailers’ results by the International Council of Shopping Centers and Goldman Sachs indicated. Some major discounters managed to exceed expectations. Read the rest of this entry »
Stocks look to jobs report
Posted by Tetyana Matychak in Favourites, Fund Markets on September 4th, 2009
U.S. stocks were poised to open higher Friday, although the mood on Wall Street could change once the government releases its monthly jobs report.
At 7 a.m. ET, Dow Jones industrial average, Nasdaq 100 and Standard & Poor’s 500 futures were up.
Futures measure current index values against their perceived future performance and offer an indication of how markets may open when trading begins.
Futures appeared to get a lift from the wave of optimism that swept markets in the previous session. Wall Street staged a late-session rally Thursday after three straight days of losses.
Peter Cardillo, chief market economist for Avalon Partners, said that Friday’s volume will be light ahead of the Labor Day weekend - and that trading will be all about the monthly employment report, scheduled before the bell.
Economy: All eyes are on the August report from the Labor Department, which is due out at 8:30 a.m. ET. Read the rest of this entry »
U.S. Stocks Drop as Microsoft, American Express, Amazon Retreat
Posted by Tetyana Matychak in Favourites, Fund Markets on July 24th, 2009
U.S. stocks retreated from the highest levels of the year as Microsoft Corp., American Express Co. and Amazon.com Inc. posted disappointing quarterly results, overshadowing reports showing Europe’s economy improved.
Microsoft fell 10 percent, the most since January, on lower profit and sales than analysts estimated. American Express slipped 3.7 percent after saying earnings decreased as the recession made it harder for cardholders to keep up with payments Amazon.com slumped 8.2 percent following price cuts that caused the online retailer’s revenue to miss projections.
The Standard & Poor’s 500 Index dropped 0.8 percent to 968.22 at 9:58 a.m. in New York after futures on the measure rose as much as 0.5 percent earlier. Dow Jones Industrial Average futures fell 47.24 points, or 0.5 percent, to 9,022.05. U.S. stocks surged yesterday, sending the Dow above 9,000 for the first time since January.
“At these levels in the market, there’s not a lot of room for error,” said Mark Freeman, who helps manage $7.5 billion at Westwood Management Corp. in Dallas. “Anything that deviates brings about a reevaluation by the market.”
Futures advanced earlier as Europe’s economy moved closer to recovery as the manufacturing and service industries contracted at the slowest rate since August and German business confidence climbed to a nine-month high. Later, the Reuters/University of Michigan index of U.S. consumer confidence was better than economists forecast. Read the rest of this entry »
Stocks tumble at end of tough week
Posted by Tetyana Matychak in Favourites, Fund Markets on May 15th, 2009
Stocks fell Friday at the end of a down week on Wall Street, the first weekly decline in all three major indexes in 10 weeks, as investors reacted to economic news and word of General Motors’ dealership closings.
The Dow Jones industrial average (INDU) lost 63 points, or 0.8%. The S&P 500 (SPX) index lost 10 points, or 1.1%. The Nasdaq composite (COMP) lost 9 points or 0.5%.
“I think we needed a technical correction after the previous nine weeks,” said Tom Schrader, managing director at Stifel Nicolaus.
“We came pretty far pretty fast and this week has been about taking a breather,” he said. “We may see a few more weeks of this, especially now that earnings are over, as we wait for the next catalyst.”
Since hitting what many see as a bottom on March 9, stocks have been on a tear. The Dow and S&P 500 rose for eight of the nine previous weeks and the Nasdaq advanced for nine in a row. Read the rest of this entry »
Stocks ready to rise again
Posted by Tetyana Matychak in Favourites, Fund Markets on May 7th, 2009
Wall Street was set for a higher open Thursday after Treasury Secretary Tim Geithner offered reassuring comments about U.S. banks and the government reported a 3-month low in jobless claims.
Also, Wal-Mart reported same-store sales and General Motors posted a quarterly loss that was narrower than expectations.
At 8:47 a.m. ET, the Dow Jones industrial average, S&P 500 and Nasdaq-100 futures were higher.
Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins in New York.
U.S. stocks surged Wednesday after early reports of the government’s so-called stress tests suggested that the major banks are better capitalized than some had thought.
Geithner further reassured investors when he said in a TV interview Wednesday night that none of the 19 banks that were tested are at risk of insolvency.
David Jones, chief market strategist at IG Markets in London, said that “reassuring noises” from Geithner about the financial health of the banks helped to fuel investor sentiment. Read the rest of this entry »
Recession is Starting to Ease
Posted by Tetyana Matychak in Favourites, Fund Markets on April 30th, 2009
The Fed confirmed what Wall Street has already concluded: The recession is starting to ease.
Federal Reserve policymakers said at the end of a two-day meeting that while the economy is still receding, the pace of decline “appears to be somewhat slower” than the last time they met in mid-March.
That was confirmation enough for the stock market. Major indexes, which had already been up sharply ahead of the announcement, posted gains of more than 2 percent. The Dow Jones industrial average jumped 169 points to its highest close since Feb. 9.
“It’s all part of a picture of improving confidence,”said Richard E. Cripps, chief market strategist for Stifel Nicolaus.
Stocks began the day higher as investors responded to bright spots within a weaker-than-expected report on the nation’s economic output for the first three months of the year. Read the rest of this entry »
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