May 7, 2013 |
NEW YORK -- The Dow Jones industrial average on Tuesday closed above 15,000 points for the first time, clearing a psychological hurdle as stocks continue a strong rally this year. It was only three months ago when the Dow, the iconic blue-chip index for 30 companies, burst through 14,000 for the first time since 2007. The magnitude of the rally has surprised even some of the most bullish Wall Street strategists. The Dow is up nearly 15% for the year. Video chat: Join us at 3:30 p.m. Pacific Some analysts contend stocks are still reasonably priced -- not cheap but not overly expensive -- and not approaching valuations seen before previous market peaks.
May 7, 2013 |
The Dow Jones industrial average is on a tear with the rest of the stock market, but valuations on stock prices are still reasonable. In a new report, research firm S&P Capital IQ argues that stocks are still fairly valued even though share prices lately have surged far faster than underlying corporate earnings. “Market valuations are appealing but not compelling,” Sam Stovall, the firm's chief equity strategist, concludes in the report. That's welcome news Tuesday, as the Dow Jones industrial average has jumped past 15,000 in early trading, part of a powerful rally that has sent stocks nearly straight up over most of the last six months.
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May 4, 2013 |
William C. Cox Jr., the patriarch of the Bancroft clan that controlled Dow Jones & Co. for 105 years and sold it to Rupert Murdoch's News Corp. in a decision sparking a family feud, died Wednesday at his home in Hobe Sound, Fla., according to his daughter, Ann Bartram. He was 82. The cause was complications from diabetes. Cox was at the center of a protracted family dispute that ultimately led to the sale of New York-based Dow Jones, owner of the Wall Street Journal, to News Corp.
May 3, 2013 |
NEW YORK -- It's only a few days into May, but already investors have seen one surprise after another, as the Dow Jones industrial average passed 15,000 for the first time Friday on the strength of a better-than-expected jobs report. The S&P 500, a broader market index, pushed past 1,600 after hitting an all-time high on Thursday. Friday's jobs report showed employers adding 165,000 net new jobs in April, meaning that employers have added, on average, a respectable 212,000 jobs in the last three months.
May 3, 2013 |
NEW YORK - The economy may still be dallying on its way to a recovery, but investors are paying that no mind, sending the stock market to all-time highs after a better-than-expected April jobs report. The Dow Jones industrial average and the Standard & Poor's 500 closed at record levels Friday, and the Dow briefly topped 15,000 for the first time. "The market was positively surprised by these job numbers," said Quincy Krosby, market strategist for Prudential Financial. "It helped assuage market fears that the recent soft patch was intensifying.
May 1, 2013 |
NEW YORK -- The first day of May gave investors reasons to worry about a sluggish economy, sending stocks down nearly 1% Wednesday. The Dow Jones industrial average fell 138.85 points, or 0.94%, to 14,700.95 at the closing bell on Wall Street. The broader Standard & Poor's 500 index dropped 14.87, or 0.93%, to 1,582.70. The technology-focused Nasdaq fell 29.66 points, or 0.89%, to 3,299.13. After stocks' strong run in April, investors faced downbeat economic data signaling slowing growth in China and the United States.
April 30, 2013 |
NEW YORK - The market wasn't supposed to go this far, this fast. Just a few months ago, Wall Street analysts predicted this year's stock rally would level off given the strong run-up seen in the first three months of the year. They held out hope that the benchmark Standard & Poor's 500 stock index might hit 1,600 by the end of the year. But the rally in equities has caught even some of the most bullish prognosticators by surprise. The broad S&P 500 begins the month of May at an all-time high, and the Dow Jones industrial average is within striking distance of hitting 15,000 points.
April 17, 2013 |
The stock market endured its second broad decline in three days, as investors fretted about weak earnings in the U.S. and deepening economic stagnation in Europe. Companies ranging from Apple Inc. to Bank of America Corp. were battered as investors fled shares of economically sensitive issues. The Dow Jones industrial average skidded 138.19 points, or 0.9%, to 14,618.59. The Standard & Poor's 500 dropped 22.56 points, or 1.4%, to 1,552.01. The pain was worst in the technology-laden Nasdaq composite, which shriveled 59.96 points, 1.8%, to 3,204.67.
April 15, 2013 |
NEW YORK -- Stocks posted sharp losses in Monday trading as commodities fell sharply following disappointing economic data out of China. Gold was also suffering a sharp sell-off. The Dow Jones industrial average, which had been in striking distance of 15,000, was off 156.85 points, or 1.1%, to 14,708.21 in late-day trading on Wall Street. The Dow had been down more than 200 points earlier. The broader Standard & Poor's 500 index was down 22.67 points, or 1.4%, to 1,566.18. The technology-focused Nasdaq was off 52.73 points, or 1.6%, to 3,242.22 Downbeat data out of China fueled worries over slowing growth.
March 28, 2013 |
NEW YORK - The new high in the Standard & Poor's 500 index is a fitting exclamation point for an impressive first quarter in the stock market. The index of 500 large U.S. companies capped a four-year rally Thursday, recouping all of its losses from the 2008 global financial crisis. The milestone underscored investors' enthusiasm over the increasingly buoyant U.S. economy. The S&P 500 is one of the last major market gauges to hit a new high. Other indexes, including the Dow Jones industrial average, already eclipsed their previous peaks from late 2007.