Tuesday, December 28, 2010
The Dow Jones Industrial Average closed higher today, led by gains in Chevron and Hewlett-Packard. Chevron rose 1.2% after a county official in California said that a company refinery there was operating. A California Emergency Management Agency filing earlier said the plant had been shut down. Hewlett-Packard rose 1% after it said that it was awarded a 10-year contract for up to $2.5 billion to supply personal computers, accessories and support services to NASA. DJIA +20.51 Nasdaq -4.39 S&P 500 +.97.
Monday, December 27, 2010
U.S. blue-chip stocks closed with small losses as investors took a step back after a fresh round of interest rate increases in China. Cisco systems helped limit the Dow's drop with a jump of 2.4% after Barron's said in its latest issue that investors are underestimating the networking giant's prospects and positioning in tech's new world. The S&P 500's energy sector fell as investors fretted over the potential impact on global demand for commodities after China raised its key lending and deposit rates by a quarter percentage point each on Saturday. DJIA -18.46 Nasdaq +1.67 S&P 500 +.77.
Friday, December 17, 2010
The Dow Jones Industrial Average teetered around the flat line as regulatory worries weighed on drug makers, while positive profit reports from technology companies helped limit the broader market's losses. Pharmaceutical stocks fell after the FDA delayed approval of a blood-thinning drug from European drug maker AstraZeneca, raising fears of greater hurdles in bringing new medications to market. Recent U.S. economic data have fueled hopes that the outlook is brightening gradually, though major market moves are not expected later this month. DJIA -7.34 Nasdaq +5.66 S&P 500 +1.04.
Wednesday, December 15, 2010
Stocks fell slightly as investors fretted over euro-zone finances, but encouraging U.S. economic data limited the decline. The euro slipped after Moody's Investors Service said it may downgrade its ratings on Spanish government debt, and Standard and Poor's Ratings Services lowered its ratings outlook on Belgium from stable to negative. The warnings added to investors' worries over the euro zone even as U.S. data showed New York manufacturing activity roared ahead this month after contracting in November. U.S. industrial production staged a modest rebound in November following a brief drop-off. Capacity utilization bounced back as well. DJIA -19.07 Nasdaq -10.50 S&P 500 -6.36.
Tuesday, December 14, 2010
Stocks closed higher today as the Federal Reserve stuck to its easy-money policy and economic data showed improvement. Shortly after the Fed's statement was released, the Dow Jones Industrial Average hit 11514.08, its highest intraday level since September 2008. But the Dow along with other market measures pared its gains later in the session as investors worried that the combination of the Federal Reserve's continued easy-money policy and improving economic data could spur inflation. DJIA +47.98 Nasdaq +2.81 S&P 500 +1.13.
Thursday, December 09, 2010
U.S. blue-chip stocks fell slightly today with McDonald's and Dupont leading the decline, but the S&P 500 edged higher following a better-than-expected jobs report. The Dow's financial components helped limit its drop with Bank of America up 5.4% and J.P. Morgan Chase up 1.4%. The Nasdaq, climbing for its seventh straight day, advanced to its highest close in almost 3 years. Today's small movements came as the market took a breather after the Dow and S&P 500 hit their highest levels since September 2008 earlier this week. DJIA -2.42 Nasdaq +7.51 S&P 500 +4.72.
Monday, December 06, 2010
Stocks were a mixed bag today as investors, subdued by Ben Bernanke's tepid economic outlook, paused after last week's climb. Telecommunications stocks strengthened, boosted by a 6.4% gain for Sprint Nextel. Sprint surged after announcing plans to simplify its network equipment, cutting billions of dollars in cost. However, financial stocks decined after Nomura said that one or more U.S. credit-rating firms could downgrade some large U.S. banks and brokers in early 2011 as they start rating banks in the wake of new regulations and less government support. DJIA -19.90 Nasdaq +3.46 S&P 500 -1.59.
Thursday, December 02, 2010
Stocks extended December's strong start as better-than-expected retail and home sales painted a brighter picture of the U.S. economy. Pressure on the euro eased on talk that the European Central Bank was actively buying more bonds of some of the bloc's more financially stressed governments. Boosting sentiment for the holiday shopping season, retail sales rose 6% in November, much better than the expected growth of 3.6%. Other encouraging news came from the National Association of Realtors' pending home-sales index, which unexpectedly jumped 10.4%. DJIA +106.63 Nasdaq +29.92 S&P 500 +15.46.