Tag: market news

Stocks Wavering As Traders Digest Bernanke's Testimony

Posted on by The INO.com Team

With Congressional testimony from Federal Reserve Chairman Ben Bernanke overshadowing a batch of upbeat economic data, stocks have wavered over the course of the trading day on Tuesday after initially moving to the upside.

The major averages are currently turning in a mixed performance, with the Nasdaq posting a modest loss. While the Nasdaq is down 6.26 points or 0.2 percent at 3,109.99, the Dow is up 66.62 points or 0.5 percent at 13,850.79 and the S&P 500 is up 1.35 points or 0.1 percent at 1,489.20.

The choppy trading on Wall Street comes as traders digest Bernanke's semi-annual testimony before the Senate Banking Committee. Continue reading "Stocks Wavering As Traders Digest Bernanke's Testimony" →

Stocks Continue Choppy Trading

Posted on by The INO.com Team

Stocks continue to show a lack of direction in mid-day trading on Tuesday, extending the lackluster performance seen in the previous session. The choppy trading comes as traders seem reluctant to make any significant moves.

The major averages are currently turning in a mixed performance, with the Nasdaq posting a modest loss. While the Nasdaq is down 4.43 points or 0.1 percent at 3,187.57, the Dow is up 31.38 points or 0.2 percent at 14,002.62 and the S&P 500 is up 1.44 points or 0.1 percent at 1,518.45.

Amid a lack of major U.S. economic news, traders seem to be staying on the sidelines ahead of President Barack Obama's State of the Union address later this evening. Continue reading "Stocks Continue Choppy Trading" →

Stocks Continue To Perform Well In Mid-Day Trading

Posted on by The INO.com Team

While buying interest has waned from earlier in the session stocks remain mostly positive in mid-day trading on Friday. The gains on the day have offset the modest losses posted in the previous session, although the Dow continues to face resistance near the 14,000 level.

In recent trading, the Dow has pulled back well off its best levels but remains up 52.85 points or 0.4 percent at 13,996.90. The tech-heavy Nasdaq is up 29.81 points or 0.9 percent at 3,194.94, while the S&P 500 is up 7.82 points or 0.5 percent at 1,517.21.

The strength on Wall Street is partly due to a positive reaction to a Commerce Department report showing a much narrower than expected U.S. trade deficit for the month of December, with the data potentially leading to an upward revision to the disappointing fourth quarter GDP data. Continue reading "Stocks Continue To Perform Well In Mid-Day Trading" →

U.S. home prices rose last year by most in 6.5 years

Posted on by The INO.com Team

U.S. home prices jumped by the most in 6 1/2 years in December, spurred by a low supply of available homes and rising demand.

Home prices rose 8.3 percent in December compared with a year earlier, according to data Tuesday from CoreLogic, a real estate data provider. That is the biggest annual gain since May 2006. Prices rose last year in 46 of 50 states.

Home prices also rose 0.4 percent in December from the previous month. That's a healthy increase given that sales usually slow over the winter months.

Steady increases in prices are helping fuel the housing recovery. They're encouraging some people to sell homes and enticing some would-be buyers to purchase homes before prices rise further.

Higher prices can also make homeowners feel wealthier. That can encourage more consumer spending. Continue reading "U.S. home prices rose last year by most in 6.5 years" →

Stocks fall after Dow's rally to 14,000

Posted on by The INO.com Team

U.S. stocks backed off their breathless rally Monday, falling sharply in the first trading session after major indexes soared to post-financial crisis highs.

The Dow Jones industrial average fell as much as 116 points in the first half-hour of trading. It was down 88 points at 13,921 as of 9:55 a.m. Eastern time.

The Standard & Poor's 500 index dropped eight points to 1,505. The Nasdaq composite index fell 10 to 3,168.

The declines followed a surge Friday that pushed the Dow over 14,000 for the first time since 2007, before the financial meltdown that routed world markets. Continue reading "Stocks fall after Dow's rally to 14,000" →