Friday, October 29, 2010
GDP numbers came out today, and the report showed growth, but still slow growth. The economy is growing at a 2% rate, better than expected but nothing to brag about. Markets responded with a yawn. Microsoft reported an increase of 51% on earnings-- techs are still leading the charge/slow walk. DJIA +4.54 S&P 500 -0.52 NASDAQ +0.04
Wednesday, October 27, 2010
Stocks reduced their intraday losses to close near the day's highs as investors struggled with shifting expectations for a major bout of easing by the Fed to stimulate the economy. The Dow was down by nearly 150 points in intraday trading, but fortunately it managed to retrace the majority of its early declines. Energy stocks were among the biggest drags on the market after weekly oil-inventory numbers showed U.S. stockpiles of crude oil rising by five million barrels. Gold and copper fell, sending down materials and industrials stocks, the two worst performers for the day. DJIA -43.18 Nasdaq +5.97 S&P 500 -3.19.
Monday, October 25, 2010
Stocks extended three weeks of gains as hopes for further central-bank stimulus kept the market edging higher. Materials and industrials led the Dow today as exporters received a boost from the weak dollar. However, financial companies lagged behind amid questions regarding banks' foreclosure practices. DJIA +31.49 Nasdaq +11.46 S&P 500 +2.54.
Wednesday, October 20, 2010
U.S. stocks jumped today, erasing most of yesterday's losses. A positive outlook from the financial sector and a flood of strong earnings from airlines and other bellwethers gave investors reasons for optimism. Materials and energy stocks were two of the best performing sectors, a day after both were overwhelmed by fears over Beijing's attempts to slow the world's second-largest economy. Transport stocks also soared after a trio of airlines reported strong earnings. DJIA +129.35 Nasdaq +20.44 S&P 500 +12.27.
Monday, October 18, 2010
Stocks closed higher today as investors were encouraged by earnings from Citigroup and a measure of home-builder confidence that topped expectations. The Dow rose .73% to its highest close since May 3. Citigroup jumped 5.6% today after its third-quarter earnings topped analysts' estimates. Revenue climbed 2%, meeting expectations, as the company managed to grow its core businesses broadly. Also lifting sentiment, the National Association of Home Builders said its housing-market index rose three points to 16 in October, the first improvement in five months. DJIA +80.91 Nasdaq +11.89 S&P 500 +8.52.
Friday, October 15, 2010
A rally across technology companies following strong earnings from Google led the S&P 500 higher today. However, the Dow fell on declines in its financial components. Nevertheless, U.S. stocks managed to close in a positive weekly territory for the second straight week. General Electric was the Dow's worst performer, tumbling 5% as its revenue came in short of Wall Street's expectations. Financial stocks were also weak as concerns over the foreclosure crisis persisted. DJIA -31.79 Nasdaq +33.39 S&P 500 +2.38.
Wednesday, October 13, 2010
A strong pair of earnings from J.P. Morgan Chase and Intel helped lift the broader market even as they stumbled, sending U.S. stocks to a fourth straight day of gains. The Dow Jones Industrial Average rose .7%, ending the day at a five-month high. Investors were uplifted by better-than-expected earnings from blue chips Intel and J.P. Morgan, though the two stocks were among the Dow's worst performers today. Apple gained .5%, pushing its share price above the $300 mark for the first time. Also, gold hit another record, trading above $1370 and ounce. DJIA +75.68 Nasdaq +23.31 S&P 500 +8.33.
Thursday, October 07, 2010
Stocks slipped today as jitters set in ahead of quarterly earnings reports and monthly jobs data, but better-than-expected employment and retail-sales numbers limited the decline. Weekly jobs data released Thursday showed the number of U.S. workers filing new claims for jobless benefits unexpectedly fell last week to their lowest level since July 10th. Expectations are for the government on Friday to report fewer payroll cuts than reported in August, although they still anticipate a decrease of about 10,000 U.S. jobs and a slight rise in unemployment. I guess now, we just wait and see! DJIA -19.07 Nasdaq +3.01 S&P 500 -1.91.