[11/29/13] U.S. stocks rose for an eighth straight week, driving the Standard & Poor’s 500 Index to the longest rally in almost a decade, as data on employment and consumer sentiment boosted confidence in economic growth. Tiffany (TIF) & Co. jumped 9.9 percent on better-than-estimated profit, pacing gains among retailers as investors speculate that an improving labor market and falling gas prices will stimulate holiday sales. Apple Inc. climbed 7 percent, helping lift the Nasdaq Composite (CCMP) Index above 4,000 for the first time in 13 years. Hewlett-Packard (HPQ) Co. surged 8.3 percent as revenue and earnings beat analysts’ estimates. Exxon Mobil Corp. slipped 1.6 percent as energy shares retreated on falling oil...Read more
Monthly Archives: November 2013
[11/27/13] Orders for U.S. durable goods dropped in October, reflecting a broad-based retreat and signaling the government shutdown hurt business confidence. Bookings for goods meant to last at least three years decreased 2 percent, matching the median forecast of economists surveyed by Bloomberg, after a 4.1 percent gain in September that was larger than initially reported, the Commerce Department reported today in Washington. Orders for aircraft and capital goods, such as machinery and computers slumped. The 16-day partial federal shutdown last month combined with continuing budget cuts have prompted companies such as Lockheed Martin Corp. (LMT) to trim staff and close factories, which will weigh on growth. A lack of...Read more
[11/18/2013] The stock market broke through two milestones Monday as a historic rally pushes stocks further into record territory.
The Dow Jones industrial average topped 16,000 for the first time and the Standard & Poor’s 500 index pierced 1,800. Both indexes are on track for their best year in a decade, and have soared more than 140 percent since hitting a Great Recession low more than five years ago.
Investors are pushing stocks up sharply this year as the U.S. economy improves, companies report record profits and the Federal Reserve keeps up its easy-money policies.“The Fed is still pumping money into the system, which is helping fuel the...
[11/08/13] U.S. job growth unexpectedly accelerated in October as employers shrugged off a partial government shutdown, suggesting the economy was on firm footing and raising the prospect the Federal Reserve may soon decide to temper its bond-buying stimulus. Employers added 204,000 new jobs to their payrolls last month, and 60,000 more jobs were created in September and August than previously reported, the Labor Department said on Friday. The unemployment rate, however, edged up to 7.3 percent from September's nearly five-year low as federal workers were idled. Economists expect a reversal in coming months. The sturdy gain in payrolls beat economists' forecasts for only 125,000 new jobs and joined data...Read more
[11/01/13] The U.S. manufacturing sector expanded at its fastest pace in more than two years in October, according to an industry report, signaling a strong start to fourth-quarter factory activity despite a government shutdown during the first half of the month. The Institute for Supply Management said on Friday its index of national factory activity rose to 56.4 in October, its best showing since April 2011, handily beating expectations of a slight slowdown in the growth rate. Last month was the fifth in a row of quicker growth in the goods-producing sector, according to ISM's data. "It certainly was a surprise, and a good one. We don't get that...Read more