Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Thursday, March 31, 2011

Thursday

Stocks slid late in the session today, but still managed to finish in the black for the third consecutive quarter. The Dow finished up 6.4% for the quarter. Growing optimism that the U.S. economic recovery is strengthening has fueled this quarter's gains despite turmoil overseas. Construction and mining equipment maker Caterpillar was the Dow's top performer for the quarter, climbing 19%. As far as economic data goes, many investors are remaining cautious until tomorrow when the government is to release its closely watched monthly employment report. DJIA -30.88 Nasdaq +4.28 S&P 500 -2.43.

Wednesday, March 30, 2011

Wednesday

Telecommunications stocks led U.S. indexes higher today, as optimism over deal activity added to confidence that jobs data would continue pointing to a strengthening labor market. The Dow Jones Industrial Average was led by AT&T, which gained 2.2% after Chief Executive Randall Stephenson said he expects some divestitures as his company pursues the buyout of T-Mobile USA from Deutsche Telekom. Investors said the market was also looking ahead with more confidence to Friday's key government jobs report. DJIA +71.60 Nasdaq +19.90 S&P 500 +8.82.

Tuesday, March 29, 2011

Tuesday

Stocks rose again today, making this the seventh time in nine sessions. They have reclaimed nearly six weeks of losses to close at their highest level since the outbreak of violence in Libya on February 18th. The stock gains, which were fueled by telecommunications and energy companies, came as investors geared up for a slew of critical data points later this week on unemployment and manufacturing. Investors are hoping this data will show further signs of a strengthening economy. DJIA +81.13 Nasdaq +26.21 S&P 500 +9.25

Thursday, March 24, 2011

Thursday

Stocks gained today as encouraging earnings and outlooks issued by technology companies helped investors look past the European sovereign-debt crisis. Boosting technology stocks, Micron Technology climbed 8.4% after reporting a better-than-expected 15% jump in fiscal second-quarter revenue. Among blue-chip stocks, AT&T rose 1.4% after Bernstein upgraded the stock to "outperform" from "market perform" and raised its price target, saying its proposed acquisition of T-Mobile USA would make it a "truly wireless-first carrier." DJIA +84.54 Nasdaq +38.12 S&P 500 +12.12.

Tuesday, March 22, 2011

Tuesday

Stocks fell slightly today, ending a three-day rally as investors showed signs of looking past recent concerns over Japan's earthquake and unrest in the Middle East. Oil prices were also a concern for some investors as crude oil futures rose to $104 a barrel. The Dow's decline was led by General Electric and Bank of America, which were both off 1.2%. Meanwhile Verizon continued to benefit from the prospect of consolidation in the telecommunications industry brought on by a deal between AT&T and Deutsche Telekom. DJIA -17.90 Nasdaq -8.22 S&P 500 -4.61.