s&p 500 pares losses

May 13th, 2013

S&P Futures – U.S. stock futures pared losses, after benchmark indexes climbed to record levels last week, as government data showed retail sales unexpectedly rose in April.

Yum! Brands Inc. fell 0.6 percent after the owner of the KFC and Pizza Hut dining chains reported a slump in April sales in China. Corning Inc. (GLW) climbed 2.1 percent as analysts raised their recommendation for the shares. Theravance Inc. rose 14 percent after Elan Corp. agreed to pay $1 billion for a share in royalties on new drugs.

S&P 500 futures expiring in June lost 0.1 percent to 1,627.3 at 8:49 a.m. in New York, after dropping as much as 0.5 percent earlier. Contracts on the Dow Jones Industrial Average fell 17 points, or 0.1 percent, to 15,051 today.

The 0.1 percent increase in U.S. retail sales followed a 0.5 percent drop in March, Commerce Department figures showed today in Washington. The median forecast of economists surveyed by Bloomberg called for a 0.3 percent drop. The figures may prompt economists to forecast spending this quarter will cool less than previously projected as Americans overcome a January increase in the payroll tax.

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S&P 500 sets record

May 9th, 2013

S&P Futures – U.S. stock futures were little changed after the country’s benchmark equity gauges climbed to successive record levels.

News Corp. advanced 2.9 percent in Australian trading after the company posted third-quarter profit that beat analysts’ estimates. Groupon Inc. (GRPN) surged 12 percent after first-quarter sales exceeded estimates. Activision Blizzard Inc. dropped 6.5 percent in German trading after the largest video-game maker in the U.S. said it remained cautious for the second half.

Standard & Poor’s 500 Index (SPX) futures retreated 0.1 percent to 1,627 at 7:24 a.m. in New York after the benchmark measure set a record level yesterday for a fifth consecutive trading day. Contracts on the Dow Jones Industrial Average dropped 9 points, or 0.1 percent, to 15,053 today.

“The risk of a melt-up in stocks is high and rising,” Michael Hartnett, chief investment strategist at Bank of America Corp., wrote in a report to clients titled ‘Raging Bull’ today. “Positioning, price action, policy and a range-bound economy can conspire to cause an overshoot.”

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S&P Futures Rise

April 29th, 2013

S&P 500 Futures – U.S. stocks climbed, with the Standard & Poor’s 500 Index heading for its sixth straight month of gains, as investors awaited a report on pending home sales amid optimism central banks will maintain stimulus plans.

The S&P 500 rose 0.4 percent to 1,588 at 9:31 a.m. in New York. The gauge has climbed 1.1 percent in April, extending its longest streak of monthly gains since September 2009.

“There’s just a positive tone to the market in part because recent lackluster economic trends have reinforced investors belief that the Federal Reserve will continue to press on the gas pedal,” Chad Morganlander, a Florham Park, New Jersey-based fund manager at Stifel Nicolaus & Co., which oversees about $130 billion, said by telephone.

An index of pending home sales increased 0.9 percent in March, after decreasing 0.4 percent the previous month, economists forecast before the National Association of Realtors releases the figures at 10 a.m. in Washington.

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s&p 500 futures rise

April 19th, 2013

S&P 500 Futures -  Most U.S. stocks rose, with the Standard & Poor’s 500 Index rebounding from a six-week low, as companies from Capital One Financial Corp. to Google Inc. (GOOG) reported earnings that topped analysts’ forecasts.

Google and Microsoft Corp. gained at least 3.1 percent. Capital One rallied 6.2 percent as income from continuing operations exceeded estimates. International Business Machines Corp., the biggest computer-services provider, tumbled 8.3 percent after quarterly profit missed projections for the first time since 2005. McDonald’s Corp. slumped 2.1 percent as it said soft global demand has continued this month.

The S&P 500 advanced 0.7 percent to 1,551.82 at 1:53 p.m. in New York. The index yesterday lost 0.7 percent to the lowest level since March 6, as corporate earnings and economic data missed estimates. The Dow Jones Industrial Average dropped 21.58 points, or 0.2 percent, to 14,515.56 today. Trading in S&P 500 stocks was 23 percent higher than the 30-day average at this time of day.

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April 16th, 2013

S&P Futures – U.S. stocks rose, with the Standard & Poor’s 500 Index rebounding from its biggest drop since November, as housing starts and earnings from Coca-Cola Co. (KO) to Johnson & Johnson topped estimates.

All 10 industry groups advanced as raw-materials and consumer-staples companies climbed the most, rising at least 1.1 percent. Coca-Cola climbed 5.5 percent as Latin American sales volume rose. Johnson & Johnson added 1.8 percent as new drugs and the acquisition of Synthes Inc. boosted sales.

The S&P 500 added 0.9 percent to 1,566.42 at 11:35 a.m. in New York. The equity benchmark plunged 2.3 percent yesterday, its biggest tumble since Nov. 7, after China’s economy grew at a slower pace than forecast. The Dow Jones Industrial Average rose 107.64 points, or 0.7 percent, to 14,706.84 today. Trading in S&P 500 stocks was 13 percent higher than the 30-day average during this time of day.

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