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December 18th, 2012
E Mini S&P 500 – U.S. stock-index futures advanced, signaling the Standard & Poor’s 500 Index will extend an 8-week high, amid optimism that President Barack Obama and Republicans will reach agreement on a new budget.
General Motors Co. rose 0.9 percent in Germany after it said it will increase the number of dealerships in China. Apple Inc. (AAPL) gained 0.9 percent in German trading. Bank of America Corp. (BAC) added 2.5 percent in extended trading in New York.
Futures on the S&P 500 expiring in March added 0.3 percent to 1,431.9 at 7:28 a.m. in New York. The S&P 500 has gained 14 percent so far this year. The equity benchmark advanced 1.2 percent yesterday, the most in a month, as investors weighed prospects for a budget deal in Washington. Dow Jones Industrial Average futures rose 41 points, or 0.3 percent, to 13,225 today.
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February 3rd, 2012
U.S. stocks advanced, sending the Dow Jones Industrial Average toward its highest level since May 2008, after a report showed that employment growth topped estimates and the jobless rate unexpectedly fell to 8.3 percent.
Bank of America Corp. (BAC), Caterpillar Inc. (CAT) and FedEx Corp. (FDX) rallied at least 1.5 percent to pace gains among companies most- dependent on economic growth. Alcoa Inc. (AA) and Occidental Petroleum Corp. (OXY) added more than 1.9 percent as commodity producers advanced. Tyson Foods Inc. (TSN) rose 5.5 percent as profit beat estimates. Gilead Sciences Inc. surged 9.1 percent on positive data from an experimental hepatitis C drug.
The Standard & Poor’s 500 Index rose 1.3 percent to 1,342.27 at 10:22 a.m. New York time. The benchmark gauge has climbed 2 percent since Jan. 27, poised for a fifth straight weekly increase. The Dow Jones Industrial Average added 152.89 points, or 1.2 percent, to 12,858.30 today.
“Spectacular,” Ron Florance, managing director of investment strategy for Wells Fargo Private Bank, said in a telephone interview from Phoenix. His firm manages $169 billion. “It’s a very, very strong jobs number. It shows that companies have confidence that they see global demand growth through their products and services. The numbers indicate continued economic strength. That will support risk assets.”
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January 18th, 2012
S&P 500 Futures – U.S. stocks advanced, giving the Standard & Poor’s 500 Index its best start to a year since 1987, as semiconductor companies and homebuilders gained. The euro rose as the International Monetary Fund proposed boosting its lending resources by as much as $500 billion.
The S&P 500 rose 1.1 percent to 1,308.04 at 4 p.m. New York time, closing above 1,300 for the first time since July. It has surged 4 percent this year. Computer-related companies led gains today among 10 MSCI World (MXWO) Index industries after ASML Holding NV (ASML), Europe’s biggest semiconductor-equipment maker, forecast higher first-quarter orders and Linear Technology Corp. (LLTC)’s sales beat projections. Builders climbed after industry confidence increased. The euro added 1 percent to $1.2859.
The IMF may increase its resources to help safeguard economic growth after identifying a potential need for $1 trillion in financing in coming years. The World Bank cut its growth forecast by the most in three years, saying a euro-region recession threatens to worsen a slowdown in emerging markets such as India and Mexico.
“Earnings momentum is slowing somewhat, but we’re still seeing growth,” Peter Jankovskis, who helps manage about $2.5 billion at Oakbrook Investments in Lisle, Illinois, said in a telephone interview. “That’s something that investors should be encouraged by. The economic data points continue to be upbeat. We’re in a mode for decent growth.”
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January 3rd, 2012
Stocks surged, driving the Dow Jones Industrial Average to the highest level since July, and commodities rallied on signs of increasing manufacturing output around the world. The dollar weakened and U.S. Treasuries fell.
The Dow increased 179.82 points, or 1.5 percent, to 12,397.38 and the S&P 500 jumped 1.6 percent to 1,277.06, the highest close since Oct. 28, at 4 p.m. in New York. The Stoxx Europe 600 Index (SXXP) added 1.6 percent and closed at a five-month high. The dollar slipped versus all 16 major peers, while 10- year Treasury yields increased seven basis points to 1.95 percent. Oil settled at an almost eight-month high near $103 a barrel as 23 of 24 commodities in the S&P GSCI Index rose.
Financial, industrial and commodity shares led the S&P 500’s gain as the Institute for Supply Management’s factory index expanded at the fastest pace in six months and government data showed construction spending grew at more than twice the forecast rate. Factory output (AIGPMI) in Australia grew for the first time in six months and reports in the past two days showed a pickup in Chinese and Indian manufacturing.
“You’re starting to see people want to take more risks,” Frank Ingarra, who helps manage the Can Slim Select Growth Fund at Greenwich, Connecticut-based NorthCoast Asset Management LLC, said in a telephone interview. His firm oversees $1.4 billion. “Manufacturing data has been pretty decent.”
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December 27th, 2011
U.S. stocks were little changed, with the Standard & Poor’s 500 Index poised for the biggest fourth-quarter rally since 1999, while oil gained as higher- than-estimated consumer confidence helped offset concern about a drop in American home prices. Copper and gold declined.
The S&P 500 (SPX) rose less than 0.1 percent to 1,265.43 at 4 p.m. New York time, and the Dow Jones Industrial Average fell 2.65 points to 12,291.35. Both are among the 10 best performers in 2011 among 91 national indexes tracked by Bloomberg, and the S&P 500 has surged 12 percent this quarter. Crude jumped 1.7 percent after Iran threatened to block transportation through the Straight of Hormuz. Copper lost 1.7 percent, and gold fell 0.7 percent.
The Conference Board’s measure of consumer sentiment topped the median economist projection and climbed to the highest level in eight months, adding to evidence that the U.S. economy is improving. The S&P 500 erased its 2011 loss last week after the fewest Americans since 2008 filed first-time claims for unemployment benefits. Data earlier today showed home prices in 20 U.S. cities dropped more than economists predicted.
“Confirmation of gradual improvement of the U.S. economy bodes well for the global market,” Chad Morganlander, a Florham Park, New Jersey-based money manager at Stifel Nicolaus & Co., which oversees more than $107 billion in client assets, said in a telephone interview. “Still, the persistent fragility within the global sovereign debt market will continue to create uncertainty among investors.”
Trading volume for S&P 500 companies was 54 percent less than the 180-day average, data compiled by Bloomberg show. The stock index moved 0.56 percent between its lowest and highest points of the day, the narrowest range since July.
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November 4th, 2011
U.S. stocks fell, sending the Standard & Poor’s 500 Index toward its first weekly drop since September, as concern about European financing offset an unexpected decrease in the American unemployment rate.
All 10 groups in the S&P 500 slid as financial and industrial shares had the biggest losses. Bank of America Corp. (BAC) tumbled 4.8 percent as a plan to bolster its balance sheet renewed concern that shareholders may see their stakes diluted. American International Group Inc. (AIG) slumped 4.3 percent after the bailed-out insurer posted its biggest loss since 2009. Groupon Inc. advanced 45 percent in its initial day of trading.
The S&P 500 sank 1.3 percent to 1,245.08 as of 12:40 p.m. New York time. The benchmark gauge for American equities was down 3.1 percent this week. The Dow Jones Industrial Average slumped 150.15 points, or 1.3 percent, to 11,894.32 today.
“Today’s jobs report does little to alleviate concern,” Mohamed A. El-Erian, the chief executive officer at Pacific Investment Management Co. in Newport Beach, California, said in an e-mail. His firm runs the biggest bond fund. “Initial indications suggest that G-20 leaders are having difficulties agreeing on the relatively easy items on their agenda. This bodes badly for the more difficult issues that also need coordinated measures on the part of the G-20.”
Global stocks slumped as the Group of 20 nations failed to agree on increasing the resources of the International Monetary Fund, dashing the hopes of European governments keen to tap more foreign aid. In the U.S., the unemployment rate fell to a six- month low of 9 percent from 9.1 percent, even as the labor force expanded. The 80,000 increase in payrolls followed gains in the prior two months that were revised up by 102,000.
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August 4th, 2011
U.S. stocks plunged, driving the Standard & Poor’s 500 Index to the biggest nine-day decline since the equity bull market began in March 2009, as concern the global economy is weakening intensified.
All 10 groups in the S&P 500 slumped at least 1.8 percent, led by losses in energy, raw-material and industrial shares. Chevron Corp. (CVX), Alcoa Inc. (AA) and Freeport-McMoRan Copper & Gold Inc. (FCX) dropped more than 4.7 percent as commodities slumped after Japan intervened in foreign-exchange markets to weaken its currency. Gap Inc. (GPS), the largest U.S. apparel chain, retreated 12 percent as July sales missed analysts’ estimates.
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