December 31, 2012
NEW YORK -- Stocks soared more than 1.3% on signs of last-minute progress in negotiations between President Obama and Congress to avoid the looming "fiscal cliff. " The Dow Jones industrial average jumped 166 points, or 1.3%, closing out 2012 at 13,104. The blue chip index finished the year up 7.3%. The broader Standard & Poor's 500 index gained 24 points, or 1.7%, closing at 1,426. The benchmark index ended the year up 13.3%. The technology-heavy Nasdaq composite index shot up 59 points, or 2%, to 3,020.
October 25, 2012 |
Stocks opened higher Thursday after overall upbeat but mixed U.S. economic data, along with signs that Britain has emerged from its double-dip recession. The Dow Jones industrial average rose 66 points, or 0.5%, to 13,143 shortly after the opening bell. The broader Standard & Poor's 500 index was up eight points, or 0.6%, to 1,417. The Nasdaq rose 16 points, or 0.6%, to 2,998. The U.S. Labor Department said jobless claims declined last week, while the Commerce Department reported a 10% increase in orders for durable goods in September, following a decline in August.
May 8, 2012 |
NEW YORK -- U.S. stock markets continued to lose ground by midday, with major Wall Street indexes in the red by about 1%. The Dow Jones industrial average was down 165 points, or 1.3%, while the Standard & Poor's 500 index was down 18 points, or 1.3%. The Nasdaq was down 5 points, or 0.8%. Worries over the European debt crisis have intensified after weekend elections in France and Greece threatened to disrupt financial markets. Voters in those countries rejected the austerity measures that have led to sharp cuts in government spending aimed at reassuring bond markets.
February 3, 2014 |
U.S. manufacturing slowed in January as new orders and inventories plunged, according to data released Monday by the Institute for Supply Management. The group's purchasing managers index dropped to 51.3 last month, down more than 5 percentage points from a 56.5 reading in December. It's the lowest index reading since May 2013. Still, a reading above 50 indicates expansion. "A number of comments from the panel cite adverse weather conditions as a factor negatively impacting their businesses in January," said Bradley Holcomb, chair of the Institute for Supply Management's Manufacturing Business Survey Committee.
November 6, 2012 |
It's all about swing states in today's presidential election. So here's another swing-state nugget, courtesy of Jack Ablin, chief investment officer at BMO Private Bank. Swing-state stocks have outpaced the Standard & Poor's 500 index during President Obama's first term. That's based on the collective performance of companies that are either based in a swing state or that do a lot of business there. Quiz: Test your knowledge of business news The S&P 500 has notched an average annual gain of 12.1% during the Obama administration.
April 4, 2012 |
Wall Street took a drubbing Wednesday as investors worried that the Federal Reserve might not be willing to pump more money into the U.S. economy. Minutes released from the central bank's last rate-setting meeting indicated that policymakers appeared reluctant to inject more cash into the financial system. There had been hopes the Fed would buy bonds - a strategy known in the past as quantitative easing - to boost the economy. Stocks suffered their worst decline so far this year.
April 7, 2014
For investors, a volatile stock market passed a worrisome milestone on Monday. The market logged its longest losing streak in two months, and extended a sell-off that began last week. After biotechnology and internet stocks pulled the market lower on Friday, it was companies that sell non-essential goods and services that dragged on the market to start the week. Concerns about earnings and sales drove declines. CarMax slumped after the used car dealer reported lower net income, and Mattel dropped on concerns about demand for big-name toys.
November 23, 2013 |
NEW YORK - Month after month, Stan Wright watched impatiently as the stock market climbed higher while his money sat on the sidelines earning next to nothing. Like many Americans, Wright, 51, yanked his savings out stocks during the 2008 financial crisis and pinned his hopes on historically safer investments in bonds. Now he wants back in on the stock market, which is in the midst of its strongest rally in a decade. "There is really, truly almost no place else to put money right now," said Wright, a Bay Area business owner who has sunk $10,000 into stocks in the last six weeks.
March 6, 2014 |
OK, listen up, all you dumb users of smartphones: In spite of what Massachusetts ' high court decided, no, it isn't OK to take “upskirt” pictures of unsuspecting women. On Wednesday, in the land of the Puritans and the home of “Banned in Boston,” all hell broke loose after the state Supreme Judicial Court overruled a lower court in a case involving one Michael Robertson, who seemed to think it was clever to use his cellphone in ways Apple or Samsung never intended. But Robertson got away with it because the state's Peeping Tom laws don't apply to such behavior, the court found.
October 5, 2012 |
Investors sent Wall Street stocks higher early Friday after the federal government reported the U.S. economy added 114,000 jobs in September. The payroll gains were in line with analysts' expectations, but the government also reported that the unemployment rate fell from 8.1% to 7.8%. The Dow Jones industrial average gained 59 points, or 0.4%, to 13,634 shortly after the opening bell. The broader Standard & Poor's 500 index rose 8 points, or 0.5%, to 1,469. The Nasdaq was up 16 points, or 0.5%, to 3,166.