Stocks Advance After Hurricane Weekend

Comstock/Thinkstock(NEW YORK) -- Stocks rallied to a positive close Monday after a gainful weekend for insurance companies in the wake of Hurricane Irene.

The Dow rose 2.3 percent, closing up 255 points Monday.  The Nasdaq gained 82 points with a 3.3-percent jump.  The S&P closed up 33 points.

Hurricane Irene failed to devastate Eastern coastal cities as much as expected, causing insurance stocks to go up, reports The Wall Street Journal.  Companies like Hartford Financial Services Group, Lincoln National and Travelers all saw gains, rising 13 percent, 8.9 percent and 5.1 percent, respectively.

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Wall Street Poised for Gains after Hurricane Irene

Jupiterimages/Thinkstock(NEW YORK) -- U.S. stock futures are up Monday, setting up Wall Street for gains as it opens up for trading in the aftermath of Hurricane Irene.

The storm left extensive flooding in lower Manhattan, but that didn't deter the New York Stock Exchange and Nasdaq from announcing that business would go on as usual on Monday.  The exchange operators, however, may run into staffing problems as trains and other means of transportation gradually resume operations in New York City, making it troublesome for some employees to get to work.

Monday's positive outlook comes after the stock market ended last week on a high.  The Dow Jones Industrial Average closed 135 points higher on Friday, while the Nasdaq added 60 points and the S&P 500 climbed 18.

Meanwhile, markets overseas also appear to be on the upswing on Friday.  European markets are primarily trading higher and most Asian markets wrapped up the day with gains.

South Korea’s Kospi had the biggest showing Friday, climbing 2.8 percent.  Australia’s S&P/ASX 200 and Taiwan’s Taiex followed, adding 1.5 percent and 1.8 percent, respectively.  Hong Kong’s Hang Seng also rose 1.4 percent and Japan's Nikkei index gained 0.6 percent.

China’s Shanghai Composite, however, didn't have the same luck, falling 1.4 percent at closing.

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Bernanke Speech Moves Markets: No New Stimulus

Daniel Acker/Bloomberg via Getty Images(WASHINGTON) -- Fed Chairman Ben Bernanke, in a much-anticipated speech Friday, announced no new or additional steps the Fed would take to help the ailing U.S. economy. Instead, he expressed optimism the economy could continue to recover, based on its own internal strength and from past assistance given by the central bank.

Bernanke reiterated the Fed's determination to keep the federal funds rate "exceptionally low" through mid-2013 at least. He did not, however, say what many traders had been hoping to hear: That the Fed would embark on a further round of quantitative easing -- a so-called QE3.

Markets were underwhelmed by his remarks. The Dow fell slightly, then rose 67 points to 11,218 at 11:20 a.m.; 10-year treasuries fell 2.15 percent; gold rose 1.64 percent.

The chairman said he remained strongly optimistic for the U.S. economy's long-term health, and that he expected inflation to remain at or below 2 percent. He also acknowledged, however, that the recent downgrade of the nation's credit rating had undermined both "household and business confidence."

He implied that there was only so much more the Fed could do to stimulate the economy, and that it was time now for Congress and the White House to create "policies that support robust economic growth in the long term," to reform the nation's tax structure and to control spending.

He said that the Fed would continue to review, as circumstances might demand, the full "range of tools" at its disposal to "provide additional monetary stimulus."

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Global Markets Drop in Anticipation of Bernanke's Speech

Comstock/Thinkstock(NEW YORK) -- U.S. stock futures are slightly higher ahead of Friday's opening bell as investors await what Federal Reserve Chairman Ben Bernanke has to say on the nation's stumbling and stagnant economy.

Although no big announcement is expected, Bernanke could hint at possible steps the Fed may take to help the country avoid falling into a second recession.  He will deliver his speech Friday morning at a financial meeting in Jackson Hole, Wyoming.

Anticipating Bernanke's speech, global markets are mostly down Friday.  European markets are trading lower and several Asian markets ended the day with deficits.

Hong Kong’s Hang Seng fell 0.86 percent, Australia’s S&P/ASX 200 dropped 0.3 percent, and China’s Shanghai Composite shed 0.12 percent.

South Korea’s Kospi, however, closed the day higher, adding 0.81 percent.  Japan's Nikkei index and Taiwan’s Taiex also saw gains, rising 0.29 percent and 0.5 percent, respectively.

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Stocks Slide Thursday; Apple Stocks See Impact of Jobs Resignation

Hemera Technologies/Thinkstock(NEW YORK) -- First-time jobless claims are up and the markets slid down Thursday.
 
The Dow closed down 171 points, the Nasdaq gave up 48 and the S&P lost 18 by the end of Thursday's trading.
 
There was a spike in first-time unemployment claims last week, jumping up to about 5,000.  But experts aren't worried.  They say it was mainly due to Verizon workers, who were on strike until a few days ago. Without them, they say, there's slow but steady job growth.
 
Meanwhile, the impact of Steve Jobs' resignation Wednesday showed up in Apple's stock Thursday.  The company's stocks are down as the company tries to convince investors and customers it can survive without Jobs as its CEO.
 
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Will Wall Street Continue Its Winning Streak?

Comstock/Thinkstock(NEW YORK) -- Wall Street is three for three this week, making gains each day since trading opened on Monday.  But could the stock market extend that streak to four Thursday?

The Dow Jones Industrial Average continued to climb past 11,000 on Wednesday, adding 144 points to close the day at 11,321.  The Nasdaq and S&P 500 also saw gains, climbing 22 points and 15 points, respectively.

Ahead of Thursday's opening bell, U.S. stock futures are down slightly, but the stock most investors will be watching closely throughout the day will be Apple's.

On Wednesday, Steve Jobs resigned as the company's CEO, saying he was no longer able to meet his duties and expectations as Apple's leader.  Chief Operating Officer Tim Cook was appointed to take Jobs' place. Jobs gave no specific reason for his decision, but in recent years, he received treatment for pancreatic cancer and underwent a liver transplant.

As of Thursday morning, shares of Apple are down about five percent.

Overseas, European markets are trading higher Thursday, and Asian markets mostly closed up.

China’s Shanghai Composite climbed 2.92 percent, Japan's Nikkei index rose 1.54 percent, and Hong Kong’s Hang Seng added 1.47 percent.  Australia’s S&P/ASX 200 and South Korea’s Kospi also rose, gaining 1.08 percent and 0.56 percent, respectively.  Taiwan’s Taiex, however, fell, dropping 1.2 percent.

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Stocks Rally Along with Eased Invester Concerns

John Foxx/Thinkstock(NEW YORK) -- The markets finished the session the way they started -- with a rally. Still, stocks fluctuated wildly between the opening and closing bells.
 
The Dow gained 144 points, the Nasdaq added 22 and the S&P closed up 15.
 
An encouraging report on durable goods eased investors' fears of another recession and triggered an early rally.  Orders were up four percent in July.  It was the biggest increase since March.
 
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Asian Markets Close Down after Japan's Credit Rating Downgrade

Hemera Technologies/Thinkstock(NEW YORK) -- Asian markets took a hit Wednesday as Japan became the latest country to have its credit rating downgraded.

Hong Kong’s Hang Seng closed the lowest, falling 2.1 percent.  South Korea’s Kospi and Japan's Nikkei index followed, dropping 1.2 percent and 1.1 percent, respectively.  Taiwan’s Taiex shed 0.6 percent, China’s Shanghai Composite slipped 0.5 percent, and Australia’s S&P/ASX 200 lost 0.1 percent.

The drops came as Moody's on Wednesday marked down Japan's debt three notches below the top AAA rating, from Aa2 to Aa3.  The ratings firm accredited the downgrade to the country's debt, weak growth prospects, and political uncertainty.  Japan's government is preparing to resign next week.

Over in the U.S., futures are down Wednesday following the Dow Jones Industrial Average's climb past 11,000 the day before.  The Dow rose 322 points on Tuesday, while the Nasdaq added 101 points and the S&P 500 gained 39.

And in Europe, markets are mostly higher ahead of Wednesday's closing.

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East Coast Quake Doesn't Shake Stocks

Comstock/Thinkstock(NEW YORK) -- A dismal housing report didn't bother investors, and even an earthquake couldn't keep the markets down.
 
The Dow closed up 320 points, back above the 11,000 mark, the Nasdaq gained 101 points and the S&P added 39 Tuesday.
 
The New York Stock Exchange says a magnitude 5.8 quake on the East Coast may have rattled some traders' nerves but didn't affect activity in the markets.

Last year was the worst for new home sales in half a century. This year could be even worse.  The number of people who bought new homes fell again in July for the fourth consecutive month.  The number sold was less than half the 700,000 economists say makes for a healthy market.
 
The nation's banks are slowly recovering.  The FDIC says earnings were up in the second quarter. It's the eighth straight quarter of increased profits.

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Wall Street Report: Global Markets Gaining, US Stock Futures Up

Comstock Images/Thinkstock(NEW YORK) -- Following a rocky showing last week, global markets are making some headway Tuesday after reports on Chinese and German manufacturing activity proved better than expected, calming fears of a sharp slowdown in global economic growth.

Japan's Nikkei index rose 1.22 percent, Hong Kong’s Hang Seng climbed 1.99 percent, China’s Shanghai Composite went up 1.52 percent, and Australia’s S&P/ASX 200 added 2.23 percent.

South Korea’s Kospi had the biggest showing in Asian trading, shooting up 3.86 percent, followed by Taiwan’s Taiex increase of 3.25 percent.

European markets are also trading higher ahead of Tuesday's closing.

Over in the U.S., stock futures are up Tuesday after slight gains on Wall Street the day before.  The Dow Jones Industrial Average gained 37 points on Monday, while the Nasdaq added four points and the S&P 500 fell even.

Meanwhile, oil prices rose to nearly $86 a barrel Tuesday as Libyan rebels and government forces continue to fight for control, hampering oil production, in turn.

Gold prices, on the other hand, are down over $5 an ounce after a record-setting run-up.  The price of gold had previously shot up to almost $1,900 an ounce.

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