May 18, 2013 |
NEW YORK - Encouraging news about the U.S. economy extended the stock market's rally Friday. A gauge of future economic activity rose more than analysts had expected, as did a measure of consumer confidence, adding to evidence that the economy is steadily recovering. Stocks closed higher for a fourth straight week. Indexes are at record levels after surging this year on optimism about the economy and record corporate earnings. The market is also being supported by ongoing stimulus from the Federal Reserve, which is keeping long-term borrowing costs at historically low levels.
May 17, 2013 |
NEW YORK - Signs of a slowing economy combined with comments from a Federal Reserve official helped pull the stock market down Thursday. The news on the U.S. economy gave investors little to get excited about. Applications for unemployment benefits rose last week and manufacturing slowed in the mid-Atlantic region. Wal-Mart sank after warning of weaker earnings ahead. The Dow Jones industrial average fell 42.47 points to 15,233.22, a loss of 0.3 percent. The Standard & Poor's 500 index dropped 8.31 points to 1,650.47, or 0.5 percent.
May 16, 2013 |
NEW YORK - The stock market marched back into record territory as investors seized on the latest encouraging news about the economy. On Tuesday, it was a report on the health of small businesses. Small business owners were slightly more optimistic in April, according to a survey by the National Federation of Independent Business. That helped push the Russell 2000, an index of small-company stocks, up 1.3 percent. The Russell index is 16.1 percent higher since the start of the year, and is up more than the Standard & Poor's 500 index, which includes larger, global companies.
May 10, 2013 |
NEW YORK - The stock market pulled back from record levels Thursday as investors became harder to please. Even a decline in the number of Americans applying for unemployment benefits failed to give stock prices a boost. The Dow fell 22.5 points, or 0.2 percent, to 15,082.62. The S&P 500 index dropped 6.02 points, or 0.4 percent, to 1,626.67. The Nasdaq composite index, which is heavily weighted with technology stocks, fell 4.10 points, or 0.1 percent, to 3,409.17. Unemployment claims for last week dropped by 4,000 to 323,000 - a five-year low, the Labor Department reported early Thursday.
May 7, 2013 |
NEW YORK - Bank of America led a rally in big-bank stocks in mostly quiet trading Monday. Stock indexes ended little changed following a record-setting run last week. News that Bank of America and MBIA, a bond-insurance company, had reached a settlement over a long-running dispute propelled both companies' stocks. BofA will pay $1.7 billion to MBIA and extend the troubled company a credit line. MBIA soared 45 percent, or $4.46, to $14.29. Bank of America gained 5 percent, or 64 cents, to $12.88, making it the leading company in the Dow Jones industrial average.
May 5, 2013 |
The stock market is in a groove. The Standard & Poor's 500 has climbed six months in a row and finished the week at a record high. Sounds good, right? A qualified "yes" may be the best answer, considering that in the last three years, stocks began to tumble in May, and rallies turned to routs by midsummer. Recent history doesn't necessarily suggest another market decline, but some flash points that triggered the previous routs are still with us. The global economy can't seem to break out of slow-growth mode.
May 3, 2013 |
NEW YORK - The stock market is all about jobs this week. Stocks rose Thursday after unemployment claims fell to a five-year low. A day earlier, it was just the opposite - the market slumped after companies added just 119,000 jobs in April, the fewest in seven months, according to payroll processor ADP. And stocks could swing again Friday when the government's closely watched monthly employment report is released. "Everyone is looking to the April jobs numbers," said Tyler Vernon, chief investment officer at Biltmore Capital.
May 2, 2013 |
NEW YORK - Signs of a slowing economy dragged down the stock market Wednesday. Even the prospect of continued stimulus from the Federal Reserve didn't help. Major market indexes fell by 0.9 percent, their worst decline in two weeks. Small-company stocks fell even more, 2.5 percent, as investors shunned risk. The yield on the benchmark U.S. government bond fell to its lowest of the year as investors sought safety. Stocks opened lower and kept sagging throughout the day, hurt by reports of a slowdown in hiring and manufacturing last month.
May 1, 2013 |
NEW YORK - News that IBM will buy back more stock and raise its dividend helped pull major stock indexes out of a morning slump Tuesday. IBM and other tech stocks led the Standard & Poor's 500 index to a record. The broad-market measure ended April with a 1.8 percent gain, the sixth month in a row the index has climbed higher. Worries about slower economic growth have rattled the stock market this month, but it has consistently bounced back. Brad Sorensen, director of market research at the brokerage Charles Schwab, said that's a result of investors having few alternatives.
April 27, 2013 |
NEW YORK - The engines driving the stock market were more tired than turbocharged Thursday, but they were enough to help stocks rise for a fifth straight day. The three major U.S. indexes all closed higher as good news on the job market and healthy earnings from companies like Royal Caribbean and Harley-Davidson encouraged investors. Still, after rising as much as 91 points, the Dow Jones industrial average gave up most of that gain as investors were underwhelmed by what ultimately proved a mixed bag on earnings.