Stock Market News Today, Jan. 27: U.S. stocks are compounding last week's selloff, with all three major indices dropping into the red as home sales fell 7% in December.
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Stock Market Today, Jan. 24: U.S. stocks today are ending this week on a heavy note, as investors continue to absorb a swirl of disappointing earnings reports and worrisome manufacturing data from China.
All three major indices are logging solid losses: the Dow Jones Industrial Average fell 1.96% or 318 points to 15,879.11; the S&P 500 is down 2.09% or 38.17 points to 1,790.29; and the Nasdaq is down 2.15% or 90.70 points to 4,128.17.
Stock Market Today, Jan. 22: U.S. stocks today are mixed and trading in a fairly narrow range as corporate earnings season continues - with lackluster results. Investors are cautious ahead of economic data tomorrow that includes jobless claims and existing home sales reports.
Stock Market News Today, Jan. 17: The Dow is up but the S&P 500 and Nasdaq down in afternoon trading, and here's why...
Housing market data today revealed that new home construction fell 9.8% in December to a seasonally adjusted rate of 999,000. The numbers were weighed by starts for single-family homes and apartments, the U.S. Commerce Department reported.
Stock Market Today, Jan. 6, 2014: U.S. stocks, including all three major indices, closed in the red today as growth in the service industries was weaker than expected, adding to the heavy start to 2014 trading.
U.S. services sector shrank last month, with an index of 53.0, down from 53.9 in November and below expectations for 54.8. But, in a more positive economic indicator, factory orders rose 1.8% in November from a year prior, the U.S. Commerce Department reported.
In response, the Dow Jones Industrial Average today closed down 0.27% at 16,425, while the Standard & Poor's 500 was down 0.24% at 1,827 and the Nasdaq Composite Index is off 0.36% at 4,118.
In addition to today's economics reports, retail stocks are likely also weighed by the headline-grabbing cold weather, which investors expect to hurt January's retail sales.
Stock Market News Today, Jan. 2, 2014: U.S. stocks are kicking off the New Year on a heavy note in today's trading, with the Dow shedding more than 100 points as investors absorb fairly positive reports on jobless claims and U.S. manufacturing.
Initial jobless claims fell 2,000 to 339,000 last week, which is close to analyst expectations of a small increase for that week.
Stock Market News Today, Dec. 12: U.S. stocks are weighed today after having started the day higher on upbeat retail sales data. They retreated on more concerns that the U.S. Federal Reserve will scale back its $85-billion-per-month bond-buying stimulus program.
The S&P 500 today fell 0.38%, or 6.72 points, at 1,775.50, and the Dow Jones Industrial Average lost 0.66%, or 104.03 points, at 15,739.50 points. The Nasdaq Composite Index fell 0.14%, or 5.41 points, at 3,998.40.
If you've been following our twice-weekly conversations at Strategic Tech Investor, you know that I'm very bullish about technology stocks.
But I want to let you in on a little secret ...
I'm also bullish about the overall stock market.
In fact, I'm predicting that the Standard & Poor's 500 Index will advance 15% in 2014, rising from the current 1,795 to 2,065. That will not only take the closely watched index up through the psychologically important 2,000 level, it will take it to the highest level in history.
No bull market goes on forever. And with the stock markets hitting record highs recently, the possibility of some kind of correction grows larger every day. But we've found seven charts that show why the next big move down could be more than just a run-of-the-mill correction. By the time you see the last chart, you'll realize why you should start mapping out a defensive strategy now...
Is December your favorite month? If you're an investor, maybe it should be. The Dow Jones Industrial Average has averaged a 1.42% gain in December over the last century, with positive returns an amazing 73% of the time. This year the Dow could do even better.
Stock Market News Today, Nov. 21: U.S. stocks are continuing to rally today as the 30-year fixed mortgage rate dropped to 4.22% this week from 4.35% last week, and despite the fact that data showed manufacturing activity slowed this month.
The Philadelphia Fed's manufacturing index for October was 6.5 last month, down from 19.8 in October and below economists' expectations for 14.5. That data indicates slowing, but still positive general manufacturing activity.
Stock market news today, Nov. 18: The Dow ended up today but fell short of 16,000 after bearish comments from Carl Icahn.
The Dow Jones Industrial Average closed up 0.1% to 15,976 points, hitting a high of 16,030 earlier in the day. The S&P 500 closed down about 0.4% at 1,791 points, and the Nasdaq Composite Index closed down 1% at 3,949.
- 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.
The major headlines in the stock market today (Tuesday) include Moody's warning it might lower America's AAA rating, the trade deficit and a financial shakeup:
- U.S. Credit Rating at Risk- In a statement released Monday, ratings agency Moody's said the United States is in danger of losing its AAA credit rating if Congress cannot come up with a solid plan to lower the debt-to-GDP ratio. "If those negotiations lead to specific policies that produce a stabilization and then downward trend in the ratio of federal debt to GDP over the medium term, the rating will likely be affirmed and the outlook returned to stable," Moody's said in an e-mailed statement. "If those negotiations fail to produce such policies, however, Moody's would expect to lower the rating, probably to Aa1."
Currently Moody's rates the U.S. AAA credit rating with a negative outlook. Standard & Poor's last year downgraded the U.S. to AA+ which is the equivalent to Moody's Aa1. Both agencies cite the political bickering in Congress and inability to deal with fiscal situations as the main reasons for the downgrades. S&P has mentioned that those risks could lead to another downgrade. When President Obama updated his federal budget in August the debt-to-GDP ratio was projected to be 75% by 2022, currently it is just over 1.04%. If lawmakers decide to go off the fiscal cliff as a debt reduction measure Moody's said it will maintain its current rating and negative outlook and then wait to see results of the fiscal cliff before deciding to return to a stable outlook.