Tag: market news

Market Ends Choppy Trading Day In Negative Territory

Posted on by The INO.com Team

Stocks showed a lack of direction throughout the trading day on Thursday as traders digested a mixed batch of economic data. Uncertainty ahead of Friday's monthly jobs report also contributed to the lack of conviction among traders.

Most of the major sectors showed only modest moves on the day, although considerable strength was visible among networking stocks. The NYSE Arca Networking Index surged up by 2.2 percent, regaining some ground after ending the two previous sessions sharply lower.

Infinera (INFN), Alcatel-Lucent (ALU), and Ciena (CIEN) turned in some of the networking sector's best performances.

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Fed to keep up stimulus

Posted on by The INO.com Team

The Federal Reserve said Wednesday that the U.S. economy "paused" in recent months because of temporary factors and reaffirmed its commitment to try to stimulate growth by keeping borrowing cheap for the foreseeable future.

The Fed took no new action at its two-day policy meeting. But it stood behind aggressive steps it launched in December to try to reduce unemployment, in a statement released after the meeting.

Last month the Fed said it would keep its key short-term interest rate at a record low at least until unemployment falls below 6.5 percent. The rate is currently 7.8 percent.

And it said it would keep buying $85 billion a month in Treasurys and mortgage bonds to try to keep borrowing costs low and encourage spending. Continue reading "Fed to keep up stimulus" →

Stocks advance, pushing Dow toward 14,000

Posted on by The INO.com Team

Pfizer helped keep the stock market rally alive Tuesday. The drugmaker's stock gained after posting strong earnings, pushing the Dow closer to 14,000.

The Dow Jones industrial average rose 73 points to close at 13,954.42 points, ending higher for the seventh day in eight. The Standard and Poor's 500 also rose, adding eight points to 1,507.84 points. The Nasdaq composite dropped less than a point to 3,153.66.

The January rally looked as if it was running out of steam yesterday as stocks pulled back from their highs, but Tuesday they resumed their ascent toward record levels. Demand was bolstered at the start of the year after lawmakers reached a deal to avoid the "fiscal cliff" and was sustained by reports that have added to evidence showing the U.S. housing market is recovering and the jobs market is slowly healing. Continue reading "Stocks advance, pushing Dow toward 14,000" →

Stocks close mixed on uneven economic signals

Posted on by The INO.com Team

U.S. stocks meandered between small gains and losses Monday, cooling off after a rally that had pushed the Standard & Poor's 500 index above 1,500 for the first time since December 2007. Encouraging news about manufacturing provided an early boost, but stocks fell later after a report on the pace of home sales fell short of expectations.

The government said before trading began that orders for long-lasting goods rose in December by 4.6 percent, helped by a 10 percent gain in orders for new aircraft. The report was a sign of strength for the manufacturing sector, a crucial driver of economic growth.

Heavy equipment maker Caterpillar said separately that its fourth-quarter net income exceeded analysts' expectations, after adjusting for the cost of a soured deal to buy a Chinese maker of roofing supports for mines. Caterpillar said it took a big charge in the quarter because the Chinese company had misrepresented its finances. Continue reading "Stocks close mixed on uneven economic signals" →

Stocks mixed as DuPont, J&J report earnings

Posted on by The INO.com Team

U.S. stocks wavered between small gains and losses Tuesday as big companies reported their fourth-quarter financial results.

The Dow Jones industrial average rose 19 points to 13,669 as of 12:10 p.m. Eastern time. The Standard & Poor's 500 index rose a fraction to 1,486. The Nasdaq composite average dropped seven to 3,127.

Among the Dow components that reported early Tuesday, chemical and bioscience company DuPont reported a sharp drop in income on weakness in its electronics, communications and other businesses, but the results still beat analysts' forecasts and DuPont's stock rose 77 cents, or 1.6 percent, to $47.76.

Johnson & Johnson said higher sales helped boost its profit from a year ago, when results were weighed down by a slew of one-time charges. However, the company's 2013 profit forecast fell short of analysts' estimates. J&J dropped 44 cents to $72.79. Continue reading "Stocks mixed as DuPont, J&J report earnings" →