Tag: market news

Weak earnings reports weigh on stocks

Posted on by The INO.com Team

The stock market struggled to hang on to meager gains after investors found little to like in weak corporate earnings reports and news of only tepid growth in the U.S. economy in the third quarter.

The Dow Jones industrial average was up eight points at 13,111 shortly before the close of trading. The Standard & Poor's 500 index fell a fraction of a point to 1,413 and the Nasdaq composite rose seven points to 2,993.

Stocks rose in the morning before a mild midday sell-off, then recovered somewhat in the afternoon.

The morning gains came after the Commerce Department estimated that the U.S. economy expanded at a 2 percent annual rate from July through September. That was better than the previous quarter, and better than analysts expected, but not strong enough to bring down the unemployment rate. Continue reading "Weak earnings reports weigh on stocks" →

Stocks Seeing Modest Strength On Upbeat GDP Data

Posted on by The INO.com Team

(RTTNews) - With traders reacting positively to upbeat U.S. economic data, stocks have moved modestly higher in early trading on Friday. The major averages have climbed into positive territory, adding to the slim gains posted in the previous session.

The major averages have pulled back off their highs for the young session but currently remain positive. The Dow is up 11.25 points or 0.1 percent at 13,114.93, the Nasdaq is up 10.72 points or 0.4 percent at 2,996.84 and the S&P 500 is up 1.48 points or 0.1 percent at 1,414.45.

The early strength on Wall Street comes on the heels of the release of a report from the Commerce Department showing stronger than expected U.S. GDP growth in the third quarter. Continue reading "Stocks Seeing Modest Strength On Upbeat GDP Data" →

Fed likely to send wait-and-see signal at meeting

Posted on by The INO.com Team

Six weeks ago, the Federal Reserve unveiled its latest plan to invigorate the U.S. economy. This week, the Fed will likely send a simple message:

Give that plan time to work.

No major announcements are expected when the Fed's latest two-day policy meeting ends Wednesday. Instead, officials will likely affirm their plan to buy mortgage bonds as long as necessary to make home buying more affordable, keep short-term interest rates at record lows through mid-2015 and take other stimulative steps if hiring doesn't pick up.

Those policies are intended to support an economy that's shown flashes of strength but isn't growing fast enough to create many jobs or to increase Americans' income. The economy grew at a meager 1.3 percent annual rate in the April-June quarter. Continue reading "Fed likely to send wait-and-see signal at meeting" →

Dow down 205 as weak earnings drag market lower

Posted on by The INO.com Team

Poor corporate earnings reports pounded the stock market Friday in a sour end to an otherwise strong week of trading. The Dow Jones industrial average fell more than 200 points for its worst day in four months.

Disappointing results from three giants of the Dow _ Microsoft, General Electric and McDonald's _ were to blame. But the broader market fell, too, and the Standard & Poor's 500 index fared even worse in percentage terms.

The Dow sank 205.43 points, or 1.5 percent, to close at 13,343.51. The S&P lost 24.15, or 1.7 percent, to 1,433.19. The Nasdaq composite index, hammered by a second ugly day for Google, lost 67.25 points to 3,005.62, a 2.2 percent decline.

The big drops Friday left the Dow and S&P clinging to gains for the week. Continue reading "Dow down 205 as weak earnings drag market lower" →

Stocks Close Nearly Flat Despite Upbeat Jobs Report

Posted on by The INO.com Team

After failing to sustain an early upward move, stocks gave back ground over the course of the trading day on Thursday before ending the session nearly flat. The pullback by the markets came as traders shrugged off an upbeat jobs report.

The major averages eventually ended the session mixed. While the S&P 500 inched up 0.28 points or less than a tenth of a percent to 1,432.84, the Dow edged down 18.58 points or 0.1 percent to 13,326.39 and the Nasdaq dipped 2.40 points or 0.1 percent to 3,049.38.

The early strength on Wall Street was partly due to bargain hunting, with traders picked up stocks at reduced levels following recent weakness. Continue reading "Stocks Close Nearly Flat Despite Upbeat Jobs Report" →