October 24, 2009 |
Stocks are higher in the opening moments of trading as investors rallied on Microsoft's latest earnings report. The software giant says its latest quarterly profit slid 18 percent, but results still topped analysts' expectations. Its shares are up nearly 10 percent. Investors are being heartened by stronger profits and upbeat outlooks from companies seen as bellwethers of consumer demand in an economy emerging from recession. A report on existing home sales is expected to provide further direction for the market.
October 16, 2009 |
NEW YORK-- Stocks are pulling back in early trading as earnings reports from Goldman Sachs Group Inc. and Citigroup Inc. fail to dazzle investors. The moderate slide Thursday came a day after the Dow Jones industrials rallied 145 points to close above 10,000 for the first time in a year. Investors drew some comfort from a government report that the number of newly laid-off workers filing claims for unemployment insurance fell last week. The Dow is down 18 at 9,999. The Standard & Poor's 500 index is down 4 at 1,088, and the Nasdaq composite index is down 9 at 2,163.
October 15, 2009 |
NEW YORK -- Surprisingly strong earnings reports from Intel Corp. and JPMorgan Chase & Co. are sending stocks sharply higher. In early trading today, the Dow Jones industrials were about 40 points away from the 10,000 mark, a level not seen in a year. Major stock indexes all rose about 1 percent. JPMorgan Chase, the first major bank to report third-quarter earnings, stoked the market's optimism as it handily beat Wall Street's expectations, reporting a profit of $3.59 billion for the July-September period.
October 14, 2009 |
NEW YORK -- Stocks are slightly lower in early trading after a mixed report from Johnson & Johnson. The health care products maker, the first among a number of key companies this week to issue quarterly results, says its sales fell 5 percent in the third quarter, more than expected. Its profit rose 1 percent, narrowly beating expectations. A drop in the dollar is helping to mitigate the market's losses, sending commodity-related stocks higher. Meanwhile, news that Cisco Systems has agreed to buy Starent Networks for $2.9 billion is helping to boost the technology-heavy Nasdaq composite index.
October 10, 2009 |
NEW YORK -- Stocks are little changed in early trading Friday after the government issued a mixed trade report. The Commerce Department says the trade deficit declined 3.5 percent to $30.7 billion in August. Economists had expected the deficit to rise. Exports of goods and services edged up, an encouraging sign that the global economy is strengthening. But a decline in imports shows that domestic consumption is still weak. Meanwhile, the dollar is recovering some of its recent losses and weighing on oil, gold and other commodities.
October 9, 2009 |
NEW YORK -- Stocks are higher after Alcoa kicked off earnings season with an unexpected profit and initial claims for jobless benefits fell more than expected. Sales at a number of big retailers, meanwhile, are coming in better than Wall Street expected. Still, most stores posted sales declines, though smaller than in recent months. Investors are cheering a report from Alcoa Inc. showing its first profit in nine months. And the Labor Department says new claims for jobless benefits fell to 521,000 last week, down from the previous week's upwardly revised total of 554,000 and better than analysts had expected.
October 6, 2009 |
NEW YORK -- Stocks are rebounding as the market opens after two consecutive weeks of declines as disappointing economic news has piled up. Investors are awaiting a report on business activity in the services sector for the latest sign any economic recover. Over the past two weeks, investors have met weaker-than-expected data with selling. An upbeat report from the Institute for Supply Management could help further bolster stocks Monday and reverse the recent trend. Asian markets declined overnight, while European stocks were narrowly mixed.
October 3, 2009 |
NEW YORK -- Stocks dropped sharply early today after the government said more jobs were lost in September than expected. The Labor Department said employers cut 263,000 jobs last month, up from 201,000 in August. That was far above the 180,000 job losses economists had been expecting. The unemployment rate rose, as expected, to 9.8 percent. Unemployment has been one of the market's biggest concerns throughout the recession because it has a big impact on consumer spending.
September 25, 2009 |
NEW YORK -- More good news about the jobs market is pulling investors back into the market. A day after the Federal Reserve said economic activity has improved, the Labor Department says the number of newly laid off workers seeking unemployment benefits fell for a third week in a row. Initial claims for unemployment insurance fell by 21,000 last week to 530,000, better than the 550,000 economists had expected. Later Thursday, investors will get data on existing home sales.