Thursday, January 27, 2011
The Dow Jones Industrial Average fell short of closing above 12,000, as mixed economic data and corporate earnings left the market struggling to find direction. Today's pairing of a better-than-expected reading of pending sales of existing homes, coupled with a surprisingly large jump in jobless claims didn't add clarity to the economic outlook. In other markets, the U.S. dollar strengthened against the yen after Japan's long-term credit rating was cut, but the currency weakened against the euro, which was boosted by the subdued U.S. economic data. DJIA +4.39 Nasdaq +15.78 S&P 500 +2.91.
Friday, January 21, 2011
U.S. blue-chip stocks climbed as encouraging earnings from General Electric boosted industrial stocks, overshadowing a handful of disappointing reports. GE led the Dow Jones Industrial Average, soaring 7.1%, after its fourth-quarter profit jumped 51% and revenue also beat Wall Street's estimates. In contrast, Bank of America fell 2% after a surprise fourth-quarter loss, weighed down by charges from pre-announced settlements and write-downs related to mortgage problems. Bank of America was accompanied by a few other disappointing reports, but they were unable to undermine the market's earnings-induced optimism. DJIA +49.04 Nasdaq -14.75 S&P 500 +3.09.
Thursday, January 20, 2011
U.S. stocks fell slightly as investors worried over the potential for more tightening measures from China following stronger-than-expected economic growth from the country, but improvements in U.S. jobs and housing helped limit the decline. Declines across material and energy sectors came as commodities weakened on concerns about the impact to demand if China announces more policy moves after data showed its economy unexpectedly accelerated in the fourth quarter of 2010. DJIA -2.49 Nasdaq -21.07 S&P 500 -1.66.
Tuesday, January 18, 2011
U.S. stocks gained as investors shrugged off slides in Apple and Citigroup, and materials shares gained on data confirming manufacturing strength. The Dow climbed over 50 points today, with Caterpillar and Boeing making up more than half of the measure's gains. Boeing rose 3.4% after saying it expects to deliver its first 787 Dreamliner in the third quarter. Shares of Apple stumbled after the consumer-electronics company disclosed that Steve Jobs would take another medical leave. DJIA +50.55 Nasdaq +10.55 S&P 500 +1.78.
Friday, January 14, 2011
Stocks reached their highest closing levels in two and a half years today, driven by a rally in the financial sector following stronger-than-expected earnings from J.P. Morgan Chase. The gains put the Dow Jones Industrial Average up .96% for the week, extending the measure's winning streak to a seventh week. The Dow's financial components led its climb after J.P. Morgan posted a 47% jump in fourth-quarter profit, beating analysts' expectations as revenue increased and loan-loss reserves were sharply reduced. DJIA +55.48 Nasdaq +20.01 S&P 500 +9.48.
Thursday, January 13, 2011
Stocks declined today as materials shares lagged in the wake of disappointing economic data, but successful bond auctions in Spain and Italy helped shore up sentiment. Merck was among the worst performers, taking 19 points off the Dow. The drug maker sank 6.6% after its researchers halted one of two major studies of its experimental anticlotting drug and made significant changes to the other. Materials declined as metals prices weakened following U.S. economic data that largely missed investors' expectations. DJIA -23.54 Nasdaq -2.04 S&P 500 -2.20.
Tuesday, January 11, 2011
Stocks rose today as worries over euro-zone debt eased, although a shaky start to the earnings season limited the climb. Today's stock gains came as investors were encouraged to see the European Central Bank step in to buy under-pressure euro-area government bonds for the second consecutive day. Traders said that stocks trimmed their gains in part because investors began getting jittery about leaving some of their bigger bets in the market ahead of an expected snowstorm. DJIA +34.43 Nasdaq +9.03 S&P +4.73.
Friday, January 07, 2011
The financial sector led a drop in U.S. stocks Friday as an adverse foreclosure ruling for banks in a Massachusetts court gave investors another cause for concern on top of a disappointing jobs report. The Dow's financial components led its decline, with J.P. Morgan Chase slipping 1.9% and Bank of America falling 1.3%. The decline came after the Massachusetts State Supreme Judicial Court upheld a decision that two foreclosures from U.S. Bancorp and Wells Fargo were invalid because the banks failed to show they held the mortgages at the time of the foreclosure. Still, U.S. stocks finished the first week of 2011 in the black, with the Dow up .84% and the S&P 500 up 1.1%. DJIA -22.55 Nasdaq -6.72 S&P 500 -2.35.