Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Thursday, June 09, 2011

Thursday

Stocks climbed today, as investors looked to break a six-day losing streak. Leading the gainers were material and energy stocks, with DuPont rising 2%, Chevron gaining 1.8%, 3M advancing 1.6%, and Caterpillar up 1.5%. Financial stocks, the worst performer so far this week, bounced back strongly as well. Pushing on the upside was an unexpected contraction in the U.S. trade deficit in April, to its lowest level of the year, as exports hit a new high and purchases of oil fell sharply amid a surge in prices. DJIA +75.42 Nasdaq +9.49 S&P 500 +9.44.

Tuesday, June 07, 2011

Tuesday

Stocks dropped for a fifth straight day as investors turned downbeat late in the session following comments from Federal Reserve Chairman Ben Bernanke. The Dow Jones Industrial Average closed down 19 points or .2%. The blue-chip index had risen earlier in the session as much as 89 points. The late-day reversal came after Mr. Bernanke said the U.S. economy should pick back up in the second half of 2011 despite recent signs of weakness. He also added the recovery, two years after the end of the recession, remains "uneven, and conditions-particularly in the labor market-remain troubled." DJIA -19.15 Nasdaq -1.00 S&P 500 -1.23.

Friday, June 03, 2011

Friday

U.S. stocks closed in the red, making this the fifth straight weekly decline as a dismal jobs report added to the drumbeat of investor concerns about a slowing economy. The Dow Jones Industrial Average fell .79%, led lower by drops in Alcoa and DuPont. The government's jobs report showed hiring by U.S. companies slowed markedly in May, while the unemployment report kept rising. The Labor Department said nonfarm payrolls rose by 54,000 last month as the private sector posted the smallest job gain in nearly a year. The jobless rate, which is obtained from a separate household survey, unexpectedly rose to 9.1% in May. DJIA -97.29 Nasdaq -40.53 S&P 500 -12.78.

Thursday, June 02, 2011

Thursday

Investors stepped back from big positions in stocks ahead of a closely watched jobs report Friday, with major indexes bobbing between gains and losses during afternoon trading. Wal-Mart Stores led blue chips lower as it shed 1.6%. The S&P 500 shed almost two points with consumer staples leading decliners. The tech-oriented Nasdaq Composite gained fractionally. A confluence of weak readings on the U.S. economy and lingering worries over the financial health of some European governments have weighed on sentiment this week. Discouraging signs on unemployment, softness in manufacturing and a continued slump in housing have predominated. DJIA -41.59 Nasdaq +4.12 S&P 500 -1.61.

Wednesday, June 01, 2011

Wednesday

Stocks plunged today after a slew of downbeat reports prompted fears the economic recovery was running out of steam. The Dow Jones Industrial Average lost nearly 280 points, its biggest point drop since June of 2010. The S&P 500 fell 2.3%, dragged down by the financial and material sectors. The trading session began on a negative note after several economic data points weighed on sentiment. Concerns about unemployment arose after a reading on private-sector job growth came in well below economists' expectations, fueling anxiety on Wall Street about the government's monthly jobs report on Friday. DJIA -279.65 Nasdaq -66.11 S&P 500 -30.65.