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March 20th, 2012
Dow Jones Futures: U.S. stocks declined, snapping a three-day advance for the Standard & Poor’s 500 Index, as commodities fell on concern about a Chinese economic slowdown.
Industrial and commodity shares slumped as China raised fuel prices by the most in two years and BHP Billiton Ltd. said the nation’s steel production is slowing. Caterpillar Inc. and Alcoa Inc. (AA) dropped more than 1.7 percent. Adobe Systems Inc. (ADBE) sank 3.6 percent as its profit forecast missed some estimates. Bank of America Corp. jumped 2.2 percent. Tiffany & Co. (TIF) surged 7.1 percent after forecasting profit that beat projections.
The S&P 500 lost 0.5 percent to 1,403.06 at 12:10 p.m. New York time. The benchmark gauge yesterday rose to the highest level since May 2008. The Dow Jones Industrial Average declined 63.87 points, or 0.5 percent, to 13,175.26. The Russell 2000 Index of small companies slid 1.1 percent to 828.77. About 2.9 billion shares changed hands on U.S. exchanges today.
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March 7th, 2012
Dow Jones Futures – Record volatility in stocks pushed investors to the safety of large companies and handed the Dow (INDU) Jones Industrial Average the best risk-adjusted return since the bull market started in 2009, the first time the gauge has led a comparable recovery.
The BLOOMBERG RISKLESS RETURN RANKING shows the 30-stock Dow rose 5.9 percent from the market low on March 9, 2009, through yesterday when adjusted for volatility, the highest out of nine American benchmark equity gauges. Never before has the measure led a rebound in the three years after a market bottom, according to data compiled by Bloomberg and going back to 1966.
Investors, reeling from the widest price swings in equity market history in 2008, sacrificed returns for the stability of large companies such as Caterpillar (CAT) Inc. and their global revenue streams, as selloffs in May 2010 and last August cast doubt on the recovery and kept volatility elevated. Options show investors are betting the Dow will continue to be stable as Europe’s sovereign-debt crisis, the growing U.S. government debt and a slowdown in emerging markets overshadow the best stock- market start since 1998.
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March 7th, 2012
S&P 500 Futures – U.S. stocks advanced, following the biggest decline in 2012 for the Standard & Poor’s 500 Index, after a private report showed American companies increased hiring and more investors signed on to a Greek debt swap.
Equities extended gains on a report that the Federal Reserve is discussing a new type of bond-buying program. Financial and industrial shares rose the most among 10 groups in the S&P 500. Bank of America Corp. (BAC) and Caterpillar Inc. (CAT) added at least 2.2 percent. Apple (AAPL) Inc. gained 1 percent as it’s said to unveil today the third generation of its iPad tablet computer. Ciena Corp. (CIEN), a maker of network equipment for phone companies, surged 7.2 percent amid a higher revenue forecast.
The S&P 500 rose 0.7 percent to 1,352.90 at 12:54 p.m. New York time, after slumping 1.5 percent yesterday. The Dow Jones Industrial Average added 77.05 points, or 0.6 percent, to 12,836.20. The Russell 2000 Index gained 1 percent to 794.79. About 3.1 billion shares changed hands on U.S. exchanges.
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February 13th, 2012
Commodity Investing: Hedge funds increased bets on rising commodity prices to the highest since September on mounting confidence that growth in the U.S. will strengthen demand.
Money managers boosted their combined net-long positions across 18 U.S. futures and options by 13 percent to 929,199 contracts in the week ended Feb. 7, Commodity Futures Trading Commission data show. That’s the highest since Sept. 20. Bullish wagers on copper rose to a six-month high, and soybean holdings jumped by the most this year.
The Standard & Poor’s GSCI Spot Index (SPGSCI) of 24 commodities rose to a six-month high on Feb. 9, a day after the MSCI All- Country World Index (MXWD) entered a bull market, as indicators signaled accelerating growth. Fewer Americans than forecast filed claims for jobless benefits in the week to Feb. 4, and consumer confidence rose to a one-year high. Investments in commodities expanded for a seventh week, the longest streak since February 2009, data compiled by Bloomberg show.
“The improving economic data, not just in the U.S., we’ve seen better data in Europe as well, has put recession fears on the back burner,” said Anthony Valeri, a market strategist with LPL Financial in San Diego, which oversees $330 billion of assets. “That augers well for commodity demand.”
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February 10th, 2012
S&P 500 – U.S. stocks fell, snapping a five- week-rally for the Standard & Poor’s 500 Index, amid concern plans to help Greece avoid default were unraveling.
Citigroup Inc. (C), Morgan Stanley and Bank of America Corp. (BAC) dropped more than 1.2 percent to pace losses in financial companies. Commodity producers retreated as Freeport-McMoRan Copper & Gold Inc. (FCX), Alcoa Inc. (AA) and Halliburton Co. (HAL) slid at least 1.2 percent. LinkedIn Corp., the biggest professional-networking website, jumped 10 percent after it reported sales that more than doubled and forecast higher 2012 revenue.
The S&P 500 declined 0.8 percent to 1,340.92 as of 9:39 a.m. New York time. The benchmark gauge for American equities has fallen 0.3 percent since Feb. 3, snapping the longest weekly rally since January 2011. The Dow Jones Industrial Average decreased 101.57 points, or 0.8 percent, to 12,788.89 today.
“We’ve had a flip-flop that triggered global selling,” Frederic Dickson, who helps oversee $28 billion as chief market strategist at D.A. Davidson & Co. in Lake Oswego, Oregon, said in a telephone interview. “Investors are responding to the sudden change in direction or the lack of resolution of the Greek/European problem that they felt was resolved.”
Equities followed a global slump as emergency talks of euro-area finance chiefs broke up late last night with Luxembourg Prime Minister Jean-Claude Juncker saying Greece must turn its budget cuts into law, flesh out 325 million euros in spending reductions and have its major party leaders sign up to the program so they don’t retreat after upcoming elections.
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Feb 8, 2012
S&P 500 Futures – U.S. stocks were little changed, a day after the Dow Jones Industrial Average reached the highest level since 2008, as Greek Prime Minister Lucas Papademos began talks with political leaders on terms required for a bailout.
Equities reversed gains after a report that the European Central Bank was still divided on its role in a Greek debt restructuring. Six out of 10 groups in the S&P 500 retreated as energy and utility shares had the biggest declines. Sprint (S) Nextel Corp., the third-largest U.S. wireless carrier, slumped 2 percent after reporting a wider loss. Hartford (HIG) Financial Services Group Inc. climbed 9.2 percent after billionaire John Paulson demanded action to boost the stock performance.
The Standard & Poor’s 500 Index fell less than 0.1 percent to 1,346.88 at 1:01 p.m. New York time, after rising as much as 0.3 percent earlier today. The Dow lost 15.48 points, or 0.1 percent, to 12,862.72.
“It seems as if everyone is holding their breath and waiting for some kind of resolution in Greece to let us know what direction to take next,” Michelle Gibley, senior market analyst at San Francisco-based Charles Schwab Corp., said in a telephone interview. Her firm has $1.68 trillion in client assets. “A deal will be made ultimately, but policy makers have already proven that deadlines mean little to them.”
Papademos began negotiating with leaders of the political parties supporting his caretaker government as he tried to make up for lost time to secure a second aid package. ECB policy makers are still divided on what contribution the central bank could make, Reuters reported, citing two unidentified euro-zone monetary-policy sources.
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February 3rd, 2012
S&P 500 Futures – U.S. stocks advanced, extending the best start to a year for the Standard & Poor’s 500 Index since 1989, 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 Alcoa Inc. (AA) rallied at least 2.4 percent to pace gains among companies most- tied to economic growth. The Dow Jones Transportation Average gained 1.2 percent as FedEx Corp. (FDX) climbed 1.4 percent. Genworth Financial Inc. (GNW), a mortgage guarantor and life insurer, surged 14 percent after swinging to a profit. Tyson Foods Inc. (TSN) rose 5.3 percent as earnings at the meat processor beat estimates.
The S&P 500 added 1.3 percent to 1,342.83 at 11:55 a.m. New York time. The benchmark gauge has rallied for five straight weeks, the longest streak in a year. The Dow Jones Industrial Average gained 144.71 points, or 1.1 percent, to 12,850.12, the highest level on a closing basis since 2008. The Russell 2000 Index of small companies jumped 2.1 percent to 829.62.
“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. That will support risk assets.”
Stocks and bond yields jumped as the report fueled optimism the economy is weathering the European debt crisis. The 243,000 increase in payrolls was the most since April and exceeded all forecasts in a Bloomberg News survey. The unemployment rate dropped to the lowest since February 2009.
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January 31st, 2012
S&P 500 – U.S. stock futures rose, indicating the Standard & Poor’s 500 Index will cap the best January since 1997, as most countries in Europe agreed to tighter budget controls and Greece made progress on debt talks.
Bank of America Corp. and Morgan Stanley increased at least 1.1 percent, following gains in European lenders. Eli Lilly & Co. rallied 2.1 percent as the drugmaker’s profit beat projections. Archer Daniels Midland Co., the world’s largest grain processor, slumped 3.2 percent amid disappointing results.
S&P 500 futures expiring in March added 0.5 percent to 1,315.40 at 9:13 a.m. New York time. Dow Jones Industrial Average futures rose 50 points, or 0.4 percent, to 12,652.
“Most market participants will raise their glasses to usher out what has proved to be a decent January for performance, data and sentiment,” said Jim Reid, a global strategist at Deutsche Bank AG in London.
Global stocks rose today as European Union leaders, meeting in Brussels yesterday, completed a fiscal-discipline treaty that speeds sanctions on high-deficit states. Greek Prime Minister Lucas Papademos said he’s “strongly committed” to reaching a debt-swap pact with bondholders. Residential real estate prices fell more than forecast in November, showing distressed properties are hampering improvement in the U.S. housing market.
Stocks fell yesterday, sending the S&P 500 lower for a third day, as European leaders sparred with Greece over a second rescue program. The decline followed a four-week rally, which was driven by the Federal Reserve’s plans to keep interest rates low through at least late 2014 and better-than-estimated earnings. Of the 184 S&P 500 companies that reported results since Jan. 9, 123 posted per-share earnings that beat projections, Bloomberg data show.
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January 23rd, 2012
S&P 500 futures – U.S. stock futures were little changed, following a four-day rally for the Standard & Poor’s 500 Index, as finance ministers gathered in Brussels to discuss new budget rules and a Greek debt swap.
Bank of America Corp. and Chesapeake Energy Corp. (CHK) increased more than 1 percent to pace gains among the biggest companies. Research In Motion Ltd. (RIM) fell 1.8 percent after replacing its co- chief executive officers as the BlackBerry maker struggles to compete against Apple Inc. (AAPL)
S&P 500 futures expiring in March gained less than 0.1 percent to 1,311 at 8:39 a.m. New York time. Dow Jones Industrial Average futures climbed 10 points, or 0.1 percent, to 12,664 today.
European officials will forge ahead today with crafting a long-term plan to tackle the region’s debt crisis, as banking and government negotiators continue trying to reach an agreement that will lighten Greece ({GDBR10)’s debt burden. Bondholders negotiating a debt swap with Greece have made their “maximum” offer, leaving it to the European Union and International Monetary Fund to decide whether to accept the deal, the negotiator for private creditors said.
The S&P 500 rose all four days U.S. exchanges were open last week as data bolstered confidence in the American economy and companies from Goldman Sachs Group Inc. to Union Pacific Corp. topped analysts’ income projections. Of the 52 companies in the S&P 500 that reported results since Jan. 9, 34 posted per-share earnings that beat projections, Bloomberg data show.
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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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