Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Wednesday, May 11, 2011

Wednesday

The energy sector pulled stocks lower, with the S&P 500 posting its biggest one-day point and percentage drop in two months, as crude oil prices tumbled. The energy sector was the biggest weight on the market, with Chevron losing 2% and Exxon Mobil shedding 2.1%. Crude oil prices fell as data pointed to a bigger-than-expected increase in crude inventories. DJIA -130.33 Nasdaq -26.83 S&P 500 -15.08.

Tuesday, May 10, 2011

Tuesday

Stocks continued their advance today as investors drew encouragement from Microsoft's $8.5 billion deal for Skype Technologies and from signs of strength in the global economy. The Dow Jones Industrial Average ended up .6%, its biggest point and percentage gain in nearly two weeks. Microsoft's deal for Skype boosted hopes for further consolidation among technology companies, although the Windows maker's stock shed 16 cents after announcing its most expensive deal ever. Stocks stayed higher after data showed U.S. wholesalers stockpiled goods in March as sales rose strongly, suggesting some improvement in an economy that slowed early this year. DJIA +75.68 Nasdaq +28.64 S&P 500 +10.87.

Monday, May 09, 2011

Monday

Stocks climbed today as commodity prices recovered from last week's slump and a burst of deal activity helped overshadow concerns over Greek finances. McDonald's boosted the Dow, gaining .8%, after its same-store sales rose 6% in April - the biggest monthly increase since October. Aluminum giant Alcoa was also strong, rising 2.2%, as metals commodities climbed. DJIA +45.94 Nasdaq +15.69 S&P 500 +6.09.

Thursday, May 05, 2011

Thursday

The energy sector led stocks lower as crude-oil prices tumbled and jobs data disappointed. Crude settled below $100 a barrel, off 8.6% for the day. This weighed on the Dow Jones Industrial Average's energy components, with Exxon Mobil shedding 2.6% and Chevron losing 2%. The tumble in crude came as investors rushed to the safety of the dollar after data showed new claims for jobless benefits unexpectedly surged last week to the highest level since August. DJIA -139.41 Nasdaq -13.51 S&P 500 -12.22.

Wednesday, May 04, 2011

Wednesday

Stocks retreated under pressure from disappointing economic data, weaker commodity prices and lackluster earnings reports. As far as economic data goes, the Institute for Supply Management's index of nonmanufacturing activity for April came in below expectations. Automatic Data Processing reported that private-sector jobs in the U.S. rose 179,000 in April, missing economists' forecast. The government will release its monthly employment report on Friday. Several companies reported disappointing earnings, which also weighed on shares. DJIA -83.93 Nasdaq -13.39 S&P 500 -9.30.