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Entries in Stock Market (110)

Thursday
Mar292012

Stocks Recover After Week of Losses

Comstock/Thinkstock(NEW YORK) -- A late-session rally Thursday pushed the Dow into positive territory.
 
The Dow closed up 20 points. The Nasdaq dropped 10
and the S&P gave up two.
 
In a hopeful sign for job seekers, the Labor Department says first-time jobless claims dropped again last week to a seasonally-adjusted 359,000.  It's the smallest number of applicants in almost four years.
 
As for discussions on oil, the prime minister of France says there's a "good chance" the U.S. and Europe will agree to release oil reserves into the market to drive down crude prices. That word helped send the prices down nearly $2.
 
Copyright 2012 ABC News Radio

Tuesday
Mar272012

Stocks Fall with Dropping Consumer Confidence

Hemera/Thinkstock(NEW YORK) -- A drop in consumer confidence Tuesday helped push the markets down after a few days of gains.
 
The Dow lost 44 points, while the Nasdaq and S&P dropped two and four points, respectively.
 
Higher gas prices may be what has Americans feeling less confident about the economy.  The Conference Board's latest consumer confidence index fell last month.  It reached its highest level in a year just last month.
 
As for home prices, they are lower in most major U.S. cities for a fifth month in a row. The Standard & Poor's/Case Shiller index finds home prices down from December to January in 16 of the 19 cities tracked.
 
Copyright 2012 ABC News Radio

Monday
Mar262012

Federal Reserve News Spurs Gains for Stocks

Comstock/Thinkstock(NEW YORK) -- Federal Reserve Chairman Ben Bernanke on Monday sounded pessimistic about jobs at a conference in Virginia, suggesting the economy still needs help to produce faster job growth.  

The indication that the Federal Reserve will keep interest rates at near-zero caused stocks to take off Monday.  The Dow climbed 161 points and the S&P added 19. The Nasdaq gained 55 points Monday to close at 3,123 -- its highest figure since November 2000.

Health care stocks seemed to gain the most of any group Monday, as the Supreme Court began hearing arguments on the constitutionality of President Obama's health care reform law.

Copyright 2012 ABC News Radio

Tuesday
Mar202012

Stocks Close Lower; Housing Outlook Looks Positive

Hemera/Thinkstock(NEW YORK) -- Stocks sank Tuesday after reports suggested an economic slowdown in China, where growth over the past three years helped sustain a global economic recovery.
 
On Monday the Dow closed down 69 points, while the Nasdaq and the S&P lost 4 points each for the trading day.

Meanwhile the housing industry could use some good news, and it may get some later this year. Builders began work on fewer homes last month, but new data shows they also took out more permits to build homes later in the year.
 
Copyright 2012 ABC News Radio

Monday
Mar192012

Modest Gains for Stocks

Comstock/Thinkstock(NEW YORK) -- The market held its own Monday after last week's rally. The market dropped lower immediately after Apple announced a dividend and a $10 billion share buyback program, but optimism returned with the promise of greater demand for U.S. Steel.

The Dow gained 6 1/2 points Monday to close at 13,239. The Nasdaq closed up 23, and the S&P was up 5 1/2 points by the end of Monday trading.

As for home sales, the National Association of Home Builders, releasing its March housing market index, saw no change from February. But many homebuilders are thinking that sales could pick up in the coming months.

Copyright 2012 ABC News Radio

Friday
Mar162012

Stocks Fall Flat After Positive Week

Hemera/Thinkstock(NEW YORK) -- Another round of economic reports lifted stocks briefly Friday, until an index of consumer confidence eroded weekly gains. Still, all the major averages added 2.5 percent this week.

The Dow Friday lost 20 points to close at 13,233. The Nasdaq closed the week off just a point, while the S&P gained half a point.

 A sharp jump in gas prices drove consumer costs up in February. But outside the higher pump prices, inflation remained tame.

Meanwhile Apple shares were lower Friday, dispute the release of the iPad.  Still, the tech giant's revenue growth is up between 40 and 50 percent.

Copyright 2012 ABC News Radio

Thursday
Mar152012

Apple Stock Tops $600 Milestone

KIMIHIRO HOSHINO/AFP/Getty Images(NEW YORK) -- Shares of Apple Inc. reached $600 for the first time ever Thursday morning in early trading, pushing the company’s market value over $555 billion.

On the eve of sales of the new iPad, which has received positive reviews, analysts set new price targets for the technology company’s shares, which had passed the $500 mark less than one month ago.

Michael Holt, senior equity analyst with investment firm Morningstar Inc., said the $600 mark is not significant in and of itself, but it’s interesting because it reflects the momentum of Apple’s success.

The company’s new intraday high hit $600.01. With a 52-week low of $310.50, the stock has soared over the past year, leaving analysts wondering when the meteoric rise will stop.

When asked to comment about the company’s outlook, Holt said “it’s definitely not downhill from here.”

“The near term momentum for Apple looks unstoppable,” he said, but down the line, there are questions regarding how Apple will be able to fend off competition with lower price points.

Holt said one way they will be able to capture market share in countries with lower per capita income such as China and India will be to keep older versions of their products with lower prices.

Apple reported stellar quarterly results in January, after selling 37 million iPhones and 15.4 million iPads in its first quarter, which ended Dec. 31.

The Wall Street Journal points out it took only 23 trading days for Apple’s stock price to jump from $500 to $600. Prior to that it only took 34 days to go from $400 to $500.

Around 10:04 a.m. eastern time, the stock ticked lower to $591.29, up about 0.29 percent.

The world’s most valuable company, based in Cupertino, Calif., has sold out of its original new iPad pre-order stock online, but shoppers can obtain the device in stores Friday.

Copyright 2012 ABC News Radio

Wednesday
Mar142012

Modest Gains for Wednesday Stocks

Medioimages/Photodisc/Thinkstock(NEW YORK) -- Stocks slipped Wednesday, just one day after the market had one of its biggest gains of the year.  By the end of the day's session, the markets could produce only small gains.
 
The Dow closed up 16 points, at 13,194. The Nasdaq closed with a fraction more on the plus side, at 3,040. The S&P lost a point Wednesday, closing at 1,394 and failing to top 1,400 for the first time in a year.
 
The rising prices of oil pushed import costs higher in February, which The Wall Street Journal reports may be hinting at inflation pressures.

Crude-oil settled at $105 a barrel Wednesday, falling off just over 1 percent.

Copyright 2012 ABC News Radio

Tuesday
Mar132012

Retail Sales Help Dow to Benchmark Closing

Hemera/Thinkstock(NEW YORK) -- The Dow hit a benchmark Tuesday with its first five-day winning streak since September. The Dow closed up 217 points, at 13,178.  Tuesday's close was also the highest for the Dow since 2007.                  
 
The Nasdaq gained 56 and the S&P added 25 points Tuesday.
 
Driven by strong demand for cars, clothes and appliances, strong retail sales may have helped the Dow.
 
Copyright 2012 ABC News Radio

Thursday
Mar082012

Stocks Not Affected by Slight Jump in Unemployment

Ben Hider/Getty Images(NEW YORK) -- A weekly bump in unemployment didn't do much to dim a brightening jobs picture.
 
The Dow closed up 71 points Thursday. The Nasdaq added 35 points, and the S&P gained 13 for the session.
 
More people applied for unemployment benefits last week, but the Labor Department says the overall level is still low enough to suggest the job market is strengthening. The February jobless numbers come out on Friday.
 
In Greece, the deadline's come and gone for a major debt reduction deal. Government officials and world markets are confident that a high number of private investors will swap their bonds they now hold for lower-interest versions.
 
Copyright 2012 ABC News Radio







ABC News Radio