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Entries in Stock Market (110)

Wednesday
Mar072012

Markets Bounce Back After Tuesday Losses

Hemera/Thinkstock(NEW YORK) -- Just one day after the biggest drop of the year for stocks, the averages regained some ground Wednesday. News that the Federal Reserve may take new steps to help the economy and the potential success for Greece in fixing its financial troubles gave stocks a boost.

The Dow rose 78 points Wednesday to 12,837. The Nasdaq closed up 25 points, and the S&P gained nine for the day.

More investors have agreed to take part in Greece's massive debt relief deal ahead of the Thursday deadline, causing a rise in optimism.

Meanwhile, Apple shares climbed higher after CEO Tim Cook unveiled the new iPad.

Copyright 2012 ABC News Radio

Tuesday
Mar062012

Big Single-Day Losses for US Stocks

Hemera Technologies/Thinkstock(NEW YORK) -- Stocks were affected by more worries about slower economic growth in China and Europe and uncertainty over Greece's next deadline, which undermined investor's confidence Tuesday.  There are questions about how many private creditors will accept bond swaps essential to Greece's latest bailout package.

Stocks saw their biggest single-day losses of 2012.  The Dow lost 204 points at 12,759.  Nasdaq and the S&P lost 40 and 21 points, respectively.

Meanwhile, oil prices slid below $105 a barrel as concerns about global economic growth and crude demand outweighed the possible supply risks posed by the tensions over Iran's nuclear program.

Copyright 2012 ABC News Radio

Monday
Mar052012

Stocks Close in Negative Territory

Hemera/Thinkstock(NEW YORK) -- Overseas economic data triggered more market jitters Monday.  

Though U.S. stocks appeared to rebound after losses Monday morning, the Dow ended the session down 15 points, at 12,963. The Nasdaq was off 26 points and the S&P closed down 5 points.

Worries over slowing economic growth in China, and concerns that Greece might be unable to secure enough private creditors for its bond swap, provided a drag on world stocks.

Copyright 2012 ABC News Radio

Thursday
Mar012012

Stocks Close in Positive Territory

Hemera/Thinkstock(NEW YORK) -- Optimistic reports on the job market and retail sales kept stocks in the plus column Thursday.
 
The Dow saw a 28-point gain by Thursday's close. The Nasdaq gained 22, and the S&P added 8 for the session.
 
There are more signs that it may be getting easier to find a job. The Labor Department says the number of people filing first-time unemployment claims continues to drop to about 351,000.
 
Meanwhile, Americans are still shopping. Sales reports from major retailers like Target, Gap and Macy's reported bigger than expected gains.

Copyright 2012 ABC News Radio

Tuesday
Feb282012

Dow Jones Industrials Close Over 13,000

Ben Hider/Getty Images(NEW YORK) -- The Dow Jones industrial average closed above 13,000 for the first time since 2008, capping a remarkable run-up in stocks that has coincided with a revival of consumer confidence to levels not seen since well before the economic downturn began.

The index, which is comprised of 30 large companies, is a closely-watched barometer of the stock market. The Dow has risen 6.74 percent this year after ending nearly even for all of 2011.  

Despite record gas prices and ho-hum economic news, consumer confidence rose to 70.8, up more than nine points since January 2012.

“Consumer Confidence, which had declined last month, posted a sizable improvement in February.  The Index is now close to levels last seen a year ago,” Lynn Franco, director of The Conference Board Consumer Research Center, said Tuesday in a statement.

“Consumers are considerably less pessimistic about current business and labor market conditions than they were in January. And, despite further increases in gas prices, they are more optimistic about the short-term outlook for the economy, job prospects, and their financial situation,” said Franco.

It’s been a tough barrier to break. Last week, the Dow managed to skate above 13,000 several times but was unable to close above the mark. On Monday, the Dow was close to reaching above 13,000, but near the end of the day the Dow lost 1.44 points and closed at 12,981.51.

The last time the Dow closed above 13,000 was on May 19, 2008.

Copyright 2012 ABC News Radio

Friday
Feb242012

S&P 500 Has Highest Close Since June 2008

Hemera/Thinkstock(NEW YORK) -- The Dow hovered near 13,000 Friday, but didn't stay there. It closed down 1.74 points at 12, 982. Still, the S&P saw its highest close since June 2008, adding 2.28 points at 1365.74.  The Nasdaq added almost 7 points to close the week.

January home sales fell in January after four consecutive months of gains.  Revised figures show sales were still stronger than first estimated.

As for oil prices, crude closed over $109 a barrel, inching near last year's highs as tension increases over Iran's nuclear program.  The national average for gasoline is now $3.65 a gallon -- the highest ever for this time of year.

Copyright 2012 ABC News Radio

Thursday
Feb232012

Jobless Claims Unchanged; Stocks Rebound

ABC News(NEW YORK) -- An encouraging weekly jobs report helped to keep the markets in positive territory Thursday.
 
After Wednesday's drop, the Dow recovered, closing up 46 points Thursday. The Nasdaq added 24 and the S&P gained 6.
 
Jobless claims remained unchanged last week, according to the latest data. The four-week average -- which analysts say is a more realistic picture of the job market -- hit a four-year low.

Copyright 2012 ABC News Radio

Wednesday
Feb222012

Dow Jones Down 27; Investors Worry Over Global Economy

Scott Eells/Bloomberg via Getty Images(NEW YORK) -- An encouraging housing report couldn't keep the markets in positive territory Wednesday. Investor concerns about the unstable financial situation in Europe pushed stocks down.
 
Stocks backtracked over concern about the outlook for Greece and the possible risk to the global economy. On Wednesday the Dow lost 27 points. The Nasdaq and S&P gave up 15 and 5 points, respectively.
 
The declines come a day after the Dow touched the 13,000 level for the first time since May of 2008.

Copyright 2012 ABC News Radio

Tuesday
Feb212012

Dow Passes 13,000 Mark -- First Time Since May '08

Mario Tama/Getty Images(NEW YORK) -- The Dow Jones industrial average on Tuesday hit the intraday high of 13,000 for the first time since May 2008. The stock index is at a nearly four-year high, and a few points from closing at 13,000, which it has not done since May 2008.

With European finance ministers agreeing to a new bailout package for Greece, all eyes were watching whether the Dow would pass the psychological threshold of 13,000 after being closed on Monday in honor of Presidents Day. The index briefly passed the mark shortly before 11:30 a.m. Eastern Time before returning to about 12,995.

The Dow opened Tuesday morning at 12,980, then dropped lower. The S&P 500 opened to 1,364, which was that index's highest close since 2008. The Dow Jones Industrial Average closed Friday at 12,950, up 0.35 percent, and the S&P 500 closed at 1,361.

Eurozone finance ministers finished seven months of deliberating in Brussels and agreed to a bailout plan for Greece of 130 billion euros, or about $171.5 billion, the country's second infusion in three years. Martin Koehring, an economist for the Economist Intelligence Unit, said without the bailout, Greece faced the prospect of defaulting on a 14.5 billion euro -- or about $19.1 billion -- bond redemption due by March 20.

Copyright 2012 ABC News Radio

Tuesday
Feb212012

Will Euro Zone Finance Deal for Greece Boost Dow Past 13,000?

Hemera/Thinkstock(NEW YORK) -- With European finance ministers agreeing to a bailout package for Greece, global stock markets are trending upward on Tuesday.  Equity markets in the U.S. opened up, after being closed on Monday in honor of Presidents Day, with all eyes watching if the Dow would pass the 13,000 mark.

On Tuesday morning, the Dow Jones Industrial Average opened to 12,980, approaching its highest level since May 2008. The S&P 500 opened to 1,364, also approaching its highest level since 2008. On Friday, the Dow closed at 12,950, up 0.35 percent, and the S&P 500 closed at 1,361.

Euro-zone finance ministers finished seven months of deliberating in Brussels Tuesday and agreed to a bailout plan for Greece -- its second in three year -- of 130 billion euros, or about $171.5 billion.  Martin Koehring, economist for the Economist Intelligence Unit, said without the bailout, Greece faced the prospect of defaulting on a 14.5 billion euros -- or about $19.1 billion -- bond redemption due by March 20.

"If we get a resolution or even improvement as far as Greece and stress in the financial markets is concerned, that could boost some of the gains we're seeing in the stock markets," Nick Bennenbroek, head of currency strategy for Wells Fargo, said ahead of the deal.

Meanwhile, back in the U.S., Home Depot announced strong fourth-quarter earnings Tuesday, including a 32 percent increase in net income to $774 million.  Kraft reported a fourth quarter net income of $830 million, up from $540 million, in line with expectations.

However, Walmart reported a 15 percent drop in profit for the fourth quarter to $5.16 billion, missing estimates.

Copyright 2012 ABC News Radio







ABC News Radio