stock market today closing time
Shortly after the opening bell, the Dow Jones Industrial Average surged 172.02, or 1.14%, at 15,242.20. The Standard & Poor's 500 Index soared 16.43, or 1.01%, at 1,643.16. The Nasdaq jumped 40.11, or 1.17%, at 3,463.67.
The stock market fell sharply Friday, logging its third weekly loss in the past four weeks. Investors were jittery ahead of this week's Fed meeting. The Dow experienced its fourth straight triple-digit move, ending a volatile week down 1.2%.
The S&P, one day after enjoying its best session since Jan. 2, gave back 9.63 points, or 0.6%. For the week, the S&P retreated 1% and the Nasdaq lost 21.81, or 0.6%.
"Markets are more fragile now, whereas they had been bulletproof by the bulls for the last six months," Joe Saluzzi, co-manager of trading at Themis Trading told CNBC. "Unfortunately, the only thing that everyone cares about is what the Fed's doing and that's troubling, when we should be looking at economic data, fundamentals and corporate profits...There are still warning signs being flagged right now and people are getting concerned.
Monday, investors appeared to be betting the Fed will stand pat.
Stock Market Today: Is the End of the Winning Streak the Start of Something Big?
All good things must come to an end...
A winning investment strategy since the start of the year has been to buy the dips. But that tactic may be changing in the stock market today.
In another rollercoaster session on Wednesday, U.S. equities fell as investors prolonged a recent selloff spurred by the unwinding of bullish bets.
In all, the Dow experienced a triple digit swing Wednesday, an occurrence that has happened twice in the last three week versus only once in 2012.
Meanwhile, the S&P shed 13.61, or 13.61, to 1,612.52, and the Nasdaq was nudged lower by 36.52, or 1.06% to log benchmark's third down day-the worst losing streak of the year.
Stock Market Today: Will a Bad Earnings Season Spoil This Year's Gains?
Coming off the worst week of the year, market participants have a cautious stance in the stock market today as earnings season kicks off - and will likely disappoint.
The Dow fell 13.29 points, or 0.09%, to 14,565.25 last week. The S&P shed 15.91, or 1.01%, to end the week at 1,553.28.
Monday, guarded investors kept a wary eye on developments in Eurozone, nuclear tensions in the Korean Peninsula, and Alcoa Inc.'s (NYSE: AA) earnings after the bell-the unofficial kick-off to Q1 earnings reports.
Red flags are waving that companies will report a slowdown in corporate profits. A number of companies have delivered lower guidance, with pre-earnings announcements sloped to the negative side. Companies in the S&P are expected to increase Q1 earnings a measly 1.5% over last year, according to Thomson Reuters.
Weak earnings could push any nervous investors to take gains and bail on markets for a while.
"Right now, projections for earnings in 2013 and the market are based on optimistic assumption," Howard Silverblatt, senior index analyst with S&P Dow Jones Indices told Barron's. "We can meet estimates if things move in the right direction. But the economy does not go straight up or down. There are bumps up or down. There are bumps in the road. And investors rarely get everything they need or want."
Here are some upcoming earnings reports to watch, as well as two of the biggest deals moving stocks this week.
It's Time to "Follow the Money" Into This Stock
Before moving into investment research, I spent two decades as a journalist - and once even interviewed former President Richard M. Nixon.
So it's no surprise that one of my favorite movies of all time is the Watergate docudrama "All the President's Men."
And my favorite scene in that flick is the famous "parking garage" meeting, where Washington Post reporter Bob Woodward (Robert Redford) squares off against confidential source "Deep Throat" (Hal Holbrook) in an effort to gauge the depth and breadth of the Nixon administration scandal the newspaper had uncovered.
Deep Throat's response: "Follow the money."
That's doggone good advice - for reporters tracking down a story and for investors seeking the very best profit plays.
With a beaten-down stock in particular, there's nothing more heartening than en masse insider buying - or seeing that substantive investments are being made by the handful of institutional players with a proven ability for finding big winners.
It's even better when you see that the Big Boys are making those investments in stocks the rest of Wall Street wouldn't even think of touching.
Stock Market Today: Why Stocks Slipped After Seven-Day Rally
After a seven-day rally that produced consecutive record highs for the Dow Jones Industrial Average, the stock market today (Tuesday) took a breather.
In early afternoon trading, the Dow Jones Industrial Average was down 16.66 or .12% at 14,430.63. The Standard & Poor's 500 Index was off 4.94, or .32% at 1,551.37. The Nasdaq was lower by 16.30, or .50% at 3,236.
"We've just been going up and up and up every day, and now a slight pullback. There is nothing surprising here, by any stretch of the imagination-it's natural to get a little pullback like this," Sean Kelly, managing director at Knight Capital told The Wall Street Journal.
Market participants continue to closely watch the S&P 500 Index. The broad-based market benchmark is close to its all-time closing high of 1,565.15 hit on Oct. 9, 2007.
But investors may be getting a bit concerned about the recent bull run. After falling to a six-year low on Monday, the VIX (the market's fear index), rose 7.8% Tuesday.
Also, the current bull market is aging. It turned 4 on Saturday. Only five of the past 11 bull markets have made it to their fifth birthday, according to data from S&P Capital. The average bull market since 1932 has endured for roughly four-and-a-half years.
Not helping stocks Tuesday was a read from the National Federation of Independent Business. While the report showed its small business optimism index rose in February, exceeding expectations, the federation's reading on expected business conditions remained in deep recession territory. Moreover, business owners reporting declining sales far surpassed those reporting increased sales.
Stock Market Today: Finally Some Gains After Two-Day Slump
After two days of losses, the stock market today (Friday) reversed the slide and opened higher, thanks to better-than-expected earnings from Hewlett-Packard Co. (NYSE: HPQ) and American International Group Inc. (NYSE: AIG)
Shortly before 1 p.m. on Wall Street, the Dow Jones Industrial Average was up 114 points to 13,994.62, the Standard & Poor's 500 Index added 10.6 to 1,513.02 and the Nasdaq advanced 25 to 3,156.34.
While all three indexes are on track for their worst week of the year, the Dow is still up some 6% since the start of 2013, the S&P 500 has gained 5% and the Nasdaq has tacked on almost 4% despite giving back all of February's gains during the two-day selloff.
Stock Market Today: This Stock Wins With or Without QE3
The major headlines in the stock market today include the Fed's decision to implement QE3, increased producer prices, and higher jobless claims.
- QE3 a 99% certainty?... Not quite- When the Federal Open Market Committee makes its statement at 12:30 p.m. EDT every investor will be waiting to hear if QE3 has finally arrived. After what seems like two years of speculation since QE2 was announced will we finally get QE3? According to Citigroup Inc. (NYSE: C) a gauge of indicators of market expectations for additional central bank stimulus rose to a record 99% in August. Yet many economists do not expect QE3 to be announced today for many reasons. If the Fed takes action it will be viewed as highly political coming just months before Election 2012. Even if the Fed announces QE3 but says it will delay QE3 purchases until after the election as it did with QE2, the political implications will still be there. Other reasons are the lack of progress the previous rounds of QE have had in turning around the economy - and not just the stock market. "The Fed continues to want the economy to grow faster and specifically, to grow more jobs, but the ability of QE to do that is extraordinarily limited," Catherine Mann, a finance professor at Brandeis and former Federal Reserve economist told CNN. "We know that QE reduced interest rates, but we also know that has not led to more construction, more mortgages, more business investment, or more lending. Since it hasn't done any of that, it probably hasn't created jobs either."
- Producer prices rise most in three years- Wholesale prices, measured by the producer price index, climbed 1.7% in August - the most since June 2009 - due to higher gasoline and natural gas prices. This was a faster increase than the 0.3% reported in July and ahead of the median forecast for a gain of 1.3%. Food prices rose 0.9% due to a rise in dairy and egg prices. The core producer price index which excludes food and energy rose 0.2%, which was in line with expectations. Tomorrow's consumer price index will be a good indicator if higher wholesale prices have translated into increased consumer prices.
Stock Market Today: This Tech Stock Rallies to All-Time High
The major headlines in the stock market today include Europe's latest rescue effort, cautious optimism on U.S. jobs, and these big-name stocks leading the rally:
- ECB unveils unlimited bond buying plan- European Central Bank (ECB) President Mario Draghi announced in Frankfurt today (Thursday) that the ECB will embark on a drastic new bond-buying plan. The new program, called "Outright Monetary Transactions," allows the ECB to buy bonds with maturities between one and three years without announcing any limits in advance, as long as the government in question is under a program approved by the Eurozone. The plan is aimed at stabilizing interest rates in the euro area and will require countries such as Spain and Italy to request aid from the ECB to activate the bond purchases.
"Under appropriate conditions, we will have a fully effective backstop to avoid destructive scenarios with potentially severe challenges for price stability in the euro area," Draghi said at a press conference. "Governments must stand ready to activate the EFSF/ESM in the bond market when exceptional financial-market circumstances and risks to financial stability exist -- with strict and effective conditionality. The ECB reserves the right to terminate bond purchases if governments don't fulfill their part of the bargain." The ECB held its benchmark rate at its record low level of 0.75%. Draghi announced that the ECB won't claim the status of a senior creditor if the bonds it buys have to be restructured and that the purchases will be "sterilized" meaning there will be no impact on the monetary supply.
Stock Market Today: Two Big Winners in Another Quiet Day
Here are the main headlines in the stock market today.
- Home prices show strong improvement- The S&P/Case-Shiller National Home Price Index increased for the fifth month in a row as prices in June on a non-seasonally adjusted basis were up 2.3% from the previous year and ahead of expectations for a 2.2% increase. Home prices rose 6.9% in the three months ended June 30 compared to the first three months of 2012. The index, which measures single-family homes and covers more than 80% of the housing market in the United States, continues to back up the belief that the housing market has finally turned a corner. "We seem to be witnessing exactly what we needed for a sustained recovery; monthly increases coupled with improving annual rates of change," said David Blitzer, a spokesman for Standard & Poor's, in a statement. "The market may have finally turned around."
- Consumer confidence falls to nine-month low- As worries over the economy escalate and more Americans are unemployed consumer confidence slipped to its lowest level since last November. In August, consumer confidence, measured by the Conference Board's Confidence Index, fell to 60.6 from 65.4. Economists had hoped the index would rise slightly to 66. The board's future expectations sub-index dropped to 70.7 from 78.4, while the present-conditions index was basically unchanged at 45.
- Mario Draghi to skip Jackson Hole- President of the European Central Bank Mario Draghi was expected to be the keynote speaker Saturday September 1 in the second day of the Jackson Hole, WY Symposium. Draghi will not attend due to his heavy workload regarding the strategy of the ECB's new bond-buying plan. Details regarding the European Stability Mechanism and other measures to improve the Eurozone debt crisis are expected to be announced at the ECB's next meeting Sept. 6.