Financial Markets   05.15.15

The Gilmer Free Press

U.S. shares ended little changed on Friday, with the S&P 500 edging up to a record high for a second straight session after a ream of weak economic data.

The S&P 500 gained 1.63 points, or 0.08%, to end at 2,122.73. That followed a more substantial 1.08% jump on Thursday that fueled speculation the benchmark index might trend higher after having oscillated in a range for much of the past three months.

However, weak industrial output and consumer sentiment reports on Friday did little to instill confidence in investors about the economy’s growth momentum. The major indices spent most of the day in the red.

The Dow Jones industrial average rose 20.32 points, or 0.11%, to end at 18,272.56. The NASDAQ Composite dropped 2.50 points, or 0.05%, to 5,048.29.

For the week, the Dow closed 0.4% higher, the S&P rose 0.3% and the NASDAQ added 0.9%.

On Friday, seven of the 10 major S&P 500 sectors rose, with the utilities index up 1.26%.

Bank of America, which dropped 1.02%, weighed most on the S&P 500, while Netflix was its strongest positive influence.

Netflix rose 4.50% to $613.24 after Bloomberg reported it was in talks to enter China. The stock has soared 80% this year.

Industrial output slipped 0.3%, weighed by a decline in production by mining companies and utilities. Economists had forecast a rise of 0.1%.

U.S. consumer sentiment also fell more than expected in May and was at its lowest since October.

Adding to the negative tone, economists cut their forecasts for U.S. economic growth in the second quarter and the full year, and trimmed expectations for U.S. labor market gains.

Yum Brands rose 4.38% after J.P. Morgan upgraded the stock to “overweight” and said the likelihood was increasing that the KFC owner might spin off its China business.

Next week’s most closely watched quarterly earnings scorecard will come from the world’s largest retailer, Wal-Mart, which reports early on Tuesday. Fed Chair Janet Yellen will speak about the economic outlook on Friday.

Advancing issues outnumbered declining ones on the NYSE by 1,732 to 1,313, for a 1.32-to-1 ratio on the upside; on the NASDAQ, 1,381 issues fell and 1,365 advanced for a 1.01-to-1 ratio favoring decliners.

About 5.7 billion shares changed hands on U.S. exchanges, below the 6.2 billion average for the last five sessions, according to BATS Global Markets.

The benchmark S&P 500 index posted 38 new 52-week highs and 3 new lows during Friday’s session; the NASDAQ Composite recorded 94 new highs and 35 new lows.

Financial Markets   05.14.15

The Gilmer Free Press

NEW YORK, NY—U.S. stocks ended sharply stronger on Thursday and the S&P 500 closed at a record high as investors worried less about interest rates and a weaker dollar offered the possibility of stronger sales for U.S. multinationals.

The S&P 500 .SPX gained 22.62 points, or 1.08%, to end at 2,121.1, exceeding its previous all-time high close of 2,117.69 on April 24. The NASDAQ Composite had its strongest day since January.

After oscillating in what many investors view as a range for much of the past three months, the S&P’s gain in 2015 now stands at 3%.

The dollar moved to its lowest since January against a basket of currencies of major U.S. trading partners - good news for companies that have large foreign sales.

A report showing a dip in initial claims for state unemployment benefits last week did little to change broad expectations that the U.S. Federal Reserve would not increase interest rates before the second half of 2015 at the earliest.

Wall Street’s top banks expect the Federal Reserve to begin raising interest rates in September, according to a Reuters poll last week.

The Dow Jones industrial average .DJI rose 191.75 points, or 1.06%, to end at 18,252.24.

The NASDAQ Composite .IXIC added 69.10 points, or 1.39%, to 5,050.80.

All of the 10 major S&P 500 sectors were higher, with the tech index’s .SPLRCT 1.73% rise leading the way. Apple (AAPL.O) shares rose 2.33%, making the stock the biggest driver on both the NASDAQ and S&P 500.

Apple’s quarterly dividend, which many shareholders reinvest, was payable on Thursday.

Avon Products (AVP.N) briefly jumped as much as 27.4% after a regulatory filing from a firm said it had offered to buy the cosmetics company for nearly three times its market value. Avon said it had not received an offer.

Shake Shack (SHAK.N) fell 4.18% to $65.50 after the hamburger chain reported a surprise adjusted quarterly profit. The stock debuted in January at a listing price of $21.

The S&P 500 posted 31 new 52-week highs and 5 new lows; the NASDAQ Composite recorded 101 new highs and 29 new lows.

Advancing issues outnumbered declining ones on the NYSE by 2,339 to 744, for a 3.14-to-1 ratio; on the NASDAQ, 1,909 issues rose and 861 fell, for a 2.22-to-1 ratio favoring advancers.

“When you get those kinds of advance-decline numbers, that means there’s a lot of buying. That’s what impresses me on days like today,“ said Frank Gretz, a technical analyst at Wellington Shields & Co, a brokerage in New York. “A day like today clears the air to the upside.“

About 6.0 billion shares changed hands on U.S. exchanges, below the 6.3 billion average for the last five sessions, according to BATS Global Markets.

Rural Opioid Overdose Reversal Grant Program

The Gilmer Free Press

The Federal Office of Rural Health Policy’s Rural Opioid Overdose Reversal Grant Program awards funding to develop innovative community partnerships that will reduce the incidences of morbidity and mortality related to opioid usage in rural areas. 

They will be awarding 15 grants of up to $100,000 each.

For more information, please visit H E R E.

Financial Markets   05.13.15

The Gilmer Free Press

NEW YORK, NY—Wall Street’s major indexes gave up early gains to end Wednesday’s session little changed as some investors stood on the sidelines waiting for the next round of economic data at the tail end of earnings season.

U.S. retail sales were unchanged in April as households cut back on purchases of cars and other big-ticket items and import prices fell for a 10th straight month in April and business inventories barely rose in March.

The data suggested to some investors that the U.S. economy was struggling to rebound strongly enough for the Federal Reserve to raise interest rates before September.

In particular, investors are waiting for inflation numbers and the next jobs report in coming weeks, said Michael Matousek, head trader at U.S. Global Investors Inc in San Antonio.

The S&P’s information technology index .SPLRCT, was the best performer with a 0.5% increase.

The S&P utilities index .SPLRCU was the worst performer, with a 1.1% drop. Duke Energy (DUK.N) weighed most on that sector and AES Corp (AES.N) fell 2.5% drop after it priced a secondary share offering.

The Dow Jones industrial average .DJI fell 7.574 points, or 0.04%, to 18,060.49, the S&P 500 .SPX lost 0.64 points, or 0.03%, to 2,098.47 and the Nasdaq Composite .IXIC added 5.50 points, or 0.11%, to 4,981.69.

DuPont (DD.N) shares fell 6.8% to $69.33 after it won a proxy fight against Nelson Peltz’s Trian Fund Management. The stock was the biggest drag on the Dow Jones industrial average.

Macy’s (M.N) fell 2.4% to $63.73, while Ralph Lauren (RL.N) fell 3% to $129.18 after they reported results.

Pall Corp (PLL.N) rose 4.4% to $123.89 after Danaher (DHR.N) said it would buy the company in a $13.8 billion deal. Danaher was up 1.6% at $87.35.

Shares of pipeline company Williams Partners LP (WPZ.N) jumped 22.7% to $58.16 after Williams Cos (WMB.N) said it would buy its affiliate for about $13.8 billion.

Advancing issues outnumbered declining ones on the NYSE by 1,695 to 1,369, for a 1.24-to-1 ratio; on the Nasdaq, 1,369 issues rose and 1,345 fell for a 1.02-to-1 ratio favoring advancers.

The S&P 500 posted 13 new 52-week highs and 4 new lows; the Nasdaq Composite recorded 64 new highs and 34 new lows.

About 6.1 billion shares changed hands on U.S. exchanges, compared with the 6.6 billion average for the last five sessions, according to data from BATS Global Markets.

Click Below for More Financial News...

Page 481 of 521 pages « First  <  479 480 481 482 483 >  Last »

The Gilmer Free Press

Copyright MMVIII-MMXVIII The Gilmer Free Press. All Rights Reserved