The stories you want. The opinions that matter.
No, thanks
Tag: u s stocks
U.S. Stocks Rise Amid Signs Of Easing Ukraine Tensions

U.S. Stocks Rise Amid Signs Of Easing Ukraine Tensions

New York (AFP) — U.S. stocks Monday followed European and Asian equity markets higher amid perceptions of easing geopolitical tensions in Ukraine.

Five minutes into trade, the Dow Jones Industrial Average gained 35.16 points (0.21 percent) to 16,589.09.

The broad-based S&P 500 advanced 6.45 (0.33 percent) to 1,938.04, while the tech-rich Nasdaq Composite Index added 17.22 (0.39 percent) at 4,388.12.

“The major averages are poised to advance as tension in Eastern Europe eases,” said a note from Wells Fargo Advisors that cited the completion of Russian military exercises near the Ukrainian border.

Ukrainian forces have been forging on with an operation to wrest back control of the main pro-Russia rebel-held cities in the east, cutting them off from the Russian border.

A string of solid advances in recent weeks has put Kiev on the front foot, with the military’s top brass pledging to stamp out the pro-Russia insurgency — which they say is instigated and armed by Moscow — in the near future.

Oil prices slipped back, while equity markets in Tokyo, London, Paris, and Frankfurt all rose.

AFP Photo/Spencer Platt

Interested in economic news? Sign up for our daily email newsletter!

U.S. Stocks Rise As ADP Report Shows Job Pickup In March

U.S. Stocks Rise As ADP Report Shows Job Pickup In March

New York (AFP) – U.S. stocks Wednesday rose in early trade after a report showed a pickup in job creation in the private sector in March.

About 40 minutes into trade, the Dow Jones Industrial Average gained 19.94 (0.12 percent) to 16,552.55.

The broad-based S&P 500 tacked on 2.21 (0.12 percent) to 1,887.73, while the tech-rich Nasdaq Composite Index advanced 6.98 (0.16 percent) to 4,275.02.

Payrolls firm ADP said U.S. businesses added 191,000 jobs in March, below the 215,000 projected by analysts but an improvement on the 178,000 in February.

It solidified expectations of an improvement in the Labor Department’s March employment report for both the public and private sectors. Analysts forecast Friday’s report to show the U.S. added 195,000 jobs last month, picking up the pace of job growth from 175,000 in February.

California utility PG&E advanced 1.5 percent even as federal prosecutors announced a criminal indictment against the firm over a fatal 2010 gas pipeline explosion. PG&E said the charges have “no merit.”

General Motors tacked on 0.6 percent as chief executive Mary Barra faced a second day of hearings on the car giant’s recall of millions of vehicles due to safety problems.

Agricultural company Monsanto reported earnings of $3.15 per share, above the $3.07 projected by analysts. Shares gained 0.2 percent.

Pharmaceutical company MannKind powered 81.3 percent higher on news that a Food and Drug Administration advisory panel recommended marketing approval for its Afrezza diabetes therapy.

News that the Centers for Medicare and Medicaid Services would cut prices for genetic testing analysis provided by Myriad Genetics by less than expected lifted shares 12.8 percent higher.

Bond prices fell. The yield on the 10-year U.S. Treasury rose to 2.79 percent from 2.76 percent Tuesday, while the 30-year increased to 3.64 percent from 3.60 percent. Bond prices and yields move inversely.

AFP Photo/Andrew Burton

U.S. Stocks Drop Ahead Of Fed Policy Decision

U.S. Stocks Drop Ahead Of Fed Policy Decision

New York (AFP) – U.S. stocks Wednesday moved lower in early trade ahead of a widely watched policy decision by the U.S. Federal Reserve on continuing to trim stimulus.

An hour into trade, the Dow Jones Industrial Average slumped 137.75 points (0.86 percent) to 15,790.81.

The broad-based S&P 500 fell 13.48 (0.75 percent) to 1,779.02, while the tech-rich Nasdaq Composite Index declined 31.90 (0.78 percent) to 4,066.06.

The losses came ahead of the conclusion of the Fed’s Federal Open Market Committee meeting that is overwhelmingly expected to trim another $10 billion from the Fed’s bond-buying program.

The post-meeting FOMC statement is expected around 2:00 pm.

The Fed in December announced plans to begin scaling back the program. Most analysts believe the Fed will stay the course in spite of recent turbulence in global markets prompted in part by the unwinding of the Fed program.

The equities sell-off followed a mixed batch of corporate earnings.

Dow component Boeing sank 4.7 percent after its 2014 forecast of $7.00-$7.20 per share lagged estimates of $7.57.

Another Dow component, AT&T, fell 4.0 percent amid concerns that the company’s outlook for cash flow had been cut. Morgan Stanley rated the company’s lofty payouts to shareholders a “wide concern.”

Yahoo tumbled 6.6 percent on concerns about sinking revenue. Investors were troubled by a six percent drop during the fourth quarter in display ad revenue that has long been at the core of Yahoo’s income.

Dow Chemical shot up 4.4 percent after earnings of 65 cents per share bested the 43-cent analyst forecast. The company announced a 15 percent dividend increase and an expansion to its share buyback program from $1.5 billion to $4.5 billion.

Bond prices rose. The yield on the 10-year U.S. Treasury fell to 2.72 percent from 2.75 percent Tuesday, while the 30-year declined to 3.66 percent from 3.67 percent. Bond prices and yields move inversely.

AFP Photo/Eric Piermont

U.S. Stocks Rebound Slightly After Friday’s Rout

U.S. Stocks Rebound Slightly After Friday’s Rout

New York (AFP) – U.S. stocks were mostly higher in early trade Monday following Friday’s two percent rout, with traders shrugging off sharp falls in Asian markets and moderate selling in Europe.

About 30 minutes into trade, the Dow Jones Industrial Average was up 30.93 points (0.19 percent) at 15,910.04.

The broad-based S&P 500 added 1.99 (0.11 percent) at 1,792.28, while the tech-rich Nasdaq Composite Index slipped 5.96 (0.14 percent) to 4,122.21.

Analysts were cautious about sentiment.

“It is evident that Friday’s selling isn’t carrying over,” Patrick O’Hare of Briefing.com said of the early sentiment. “It could get going again, especially if the early bounce peters out in a hurry, but it’s basically a touch-and-go test right now of the market’s buy-the-dip conviction.”

Caterpillar shares shot up 6.4 percent after handily beating forecasts in its fourth-quarter earnings, with net income rising 43.9 percent to $1.0 billion and earnings per share at $1.54 per share, compared with the $1.28 expected by analysts.

AT&T was up 0.2 percent after saying it would not launch an offer for British mobile phone group Vodafone following fresh rumors of a mega-bid.

Shares of cable television operator Liberty Global lost 2.0 percent after it announced a $13.7 billion stock and cash offer to buy Dutch operator Ziggo to expand its European markets.

Apple shares were up 1.2 percent ahead of its earnings report, coming after the market closes.

Google shares meanwhile slipped 0.5 percent.

Bond prices were modestly lower. The yield on the 10-year U.S. Treasury moved to 2.75 percent from 2.74 percent Friday, while the 30-year rose to 3.66 percent from 3.65 percent. Bond prices and yields move inversely.

 

AFP Photo/Spencer Platt