November 16, 2012 Leave a Comment
November 2, 2012 Leave a Comment
* U.S. employers hire more in October than expected
* Materials, energy shares are biggest drags on day
* Starbucks raises outlook, U.S. sales beat expectation
* Indexes down: Dow 0.3 pct, S&P 0.2 pct, Nasdaq 0.2 pct
NEW YORK, Nov 2 (Reuters) – U.S. stocks edged lower on Friday, erasing earlier gains spurred by a stronger-than-expected payroll report, as they were pressured by weakness in energy and materials shares.
Employers added 171,000 people to their payrolls last month, the Labor Department said on Friday. The number outpaced forecasts, and the government also said 84,000 more jobs were created in August and September than initially estimated. Still, sustained job gains of this magnitude would only bring the unemployment rate down slowly.
October 31, 2012 2 Comments
Revisions to the way payroll data firm ADP counts private sector job creation have resulted in a sharp drop in the September employment count.
ADP’s new calculations put the monthly job creation at just 88,200, down from the 162,000 the firm originally reported earlier this month.
The firm recently has entered into a partnership with Moody’s Analytics that will change the way the private payroll count is calculated.
The new private payroll count now is actually under Labor’s September job creation total of 114,000, 104,000 of which came from the private sector. The unemployment rate dropped last month to 7.8 percent, as the government said the total number of new workers swelled by 873,000. (Read More:Consumer Prices Rise on Energy Surge; No Pay Gains)
October 28, 2012 1 Comment
Stocks ended flat in lackluster trading Friday, but major averages finished sharply lower for the week as worries over the election, the looming “fiscal cliff” and a slew of weak earnings results kept investors on edge.Read More
October 20, 2012 Leave a Comment
* McDonald’s lower quarterly profit misses estimate
* GE profit meets forecasts, revenue shy of estimates
* U.S. existing home sales fall as inventories drop
* Dow off 1.5 pct, S&P 500 off 1.7 pct, Nasdaq off 2.2 pct
By Atossa Araxia Abrahamian
NEW YORK, Oct 19 (Reuters) – U.S. stocks suffered their worst day since late June on Friday, after bellwethers General Electric and McDonald’s extended a string of disappointing earnings.
The Nasdaq ended down 2.19 percent, dragged lower for a second day by Google’s weak results. Microsoft dropped 2.9 percent to $28.64 after it said profits fell on poor sales of PCs. Google’s stock lost 1.9 percent to close at $681.79.
October 16, 2012 Leave a Comment
* Banks to be in focus as Citigroup reports results
* S&P coming off worst week since June on bearish earnings
* Futures bolstered by hopes of Spain asking for aid
* Futures up: Dow 46 pts, S&P 6.7 pts, Nasdaq 17 pts
By Ryan Vlastelica
NEW YORK, Oct 15 (Reuters) – U.S. stock index futures pointed to a higher open on Monday as Citigroup climbed following its earnings results and strong retail sales data further lifted sentiment.
Growing hopes that Spain would soon request a bailout also lifted sentiment, indicating a rebound from last week, which was the S&P’s worst since June. Spain officially asking for aid is seen as a necessary step for dealing with the region’s debt crisis.
Citigroup Inc rose 2.4 percent to $35.59 in premarket trading after posting adjusted earnings that surged from the prior year and beat expectations. The growth came as mortgage lending increased and capital markets results rebounded.
October 11, 2012 4 Comments
Stocks climbed Thursday, with the S&P 500 looking to snap a four-day decline, after jobless claims dropped to their lowest level since 2008 and following a bullish report from Citigroup on U.S. equities.
“We’ve had a tremendous amount of selling so there’s been a lot of pent-up demand,” said Todd Schoenberger, managing principal at The BlackBay Group. “There’s more of a momentum shift to go lower, but you have some positive news with jobless claims and bank earnings coming up. You’d be a fool to be on the sidelines in the next two days.”Read More
October 5, 2012 Leave a Comment
Traders say Friday’s jobs report may have more impact on the presidential race than the markets, though investors will still be watching closely.
Economists expect employers added 113,000 jobs in September, while the unemployment rate edged up to 8.2 percent from August’s 8.1 percent, according to a Reuters survey. Friday’s report will be the second-to-last before the November election.
“Because of [this jobs report’s] juxtaposition to election, there will be significant political ramifications, perhaps more so than for the market,” said Art Hogan, managing director at Lazard Capital Markets. “Politically, anything that pushes the cause of the Romney camp forward could have a positive effect on the market.” (Read More: Wall Street Hopes for Romney, but Expects Obama to Win.)
In Wednesday night’s debate, Republican challenger Mitt Romney sharply criticized President Barack Obama over the tepid pace of of job creation. Although layoffs have declined, employers have been hesitant to hire because of uncertainty over who will be the next president, as well as the impending “fiscal cliff” at year-end.
“How we avoid the ‘fiscal cliff’ is impossible to know without incorporating the concept of who’s the next president,” said Hogan. READ MORE
October 5, 2012 Leave a Comment
U.S stock index futures added to gains Friday, after the S&P 500 logged its 4th-straight win streak, after the government jobs report added slightly more positions than expected.
Employers added 114,000 jobs in September, according to the Labor Department, and the unemployment rate fell to 7.8 percent, dropping below 8 percent for the first time in nearly four years. The rate fell because more people found work, a trend that could impact the presidential election.
Economists polled by Reuters forecast non-farm payrolls rose by 113,000 in September, versus 96,000 in August.
“Everyone’s focused on the rate dipping below 8 percent—it’s not a magical number…it doesn’t make people feel better about the economic situation,” said Todd Schoenberger, managing principal at The BlackBay Group. “September is historically a strong month for jobs and the headline number was a complete disappointment.” READ MORE