dow jones futures

dow jones futures

October 9th, 2014

U.S. stocks extended losses, with the Standard & Poor’s 500 Index’s reversing most of it biggest rally this year, as small caps tumbled on speculation the advance was overdone amid continued concern about global economic strength.

Energy stocks in the S&P 500 (SPX) tumbled 3.1 percent, while materials producers sank 1.8 percent. Gap Inc. plunged 11 percent after saying its chief executive officer will step down. Advanced Micro Devices Inc. sank 7.6 percent after naming a new CEO a week before reporting earnings. Alcoa (AA) Inc. fell 2.8 percent after unofficially starting the earnings season. Apple Inc. gained 0.9 percent after investor Carl Icahn urged the company to accelerate share repurchases.

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November 30th, 2011

Stocks surged, giving the Dow Jones Industrial Average its biggest rally since March 2009, and the euro strengthened as six central banks made additional funds available to ease strains from Europe’s debt crisis. Treasuries fell while commodities jumped.

The MSCI All-Country World Index climbed 3.7 percent at 4 p.m. New York time and is up 7.6 percent in three sessions. The Dow gained 4.2 percent to 12,045.68, while the Stoxx Europe 600 Index capped its best four-day gain in three years. The dollar weakened against all 16 major peers, with the euro up 0.9 percent to $1.3441. The cost for European banks to fund in dollars retreated from the highest since 2008. Oil jumped to almost $101 a barrel and copper rose 5.5 percent.

The central banks of the U.S., the euro region, Canada, the U.K., Japan and Switzerland agreed to cut the cost of providing dollar funding via swap arrangements, the Federal Reserve said, and agreed to make other currencies available as needed. China said earlier today it will cut the reserve requirement ratio for banks by 0.5 percentage points, while data on U.S. business activity and the employment and housing markets topped economists’ estimates.

“I’m in a better mood today than I’ve been in a while,” Burt White, who helps oversee about $315 billion as chief investment officer at LPL Financial Corp. in Boston, said in a telephone interview. “This coordinated effort is a huge one. It is not a European problem, it’s a global problem. If we don’t get Europe solved, it’s going to send pretty big ripples across the globe. We really could see some upside for the market, if this momentum continues.”

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