Posts Tagged Nasdaq composite

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 »

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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 »

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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 »

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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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