The Week In Review
1/30-2/3/12February 3, 2012
U.S. stocks leapt on Friday as Wall Street embraced employment rising more than expected last month and the jobless rate dropping to a three-year low. The Dow Jones Industrial Average advanced 106 points to 12,811. The S&P 500 Index rose 11 points to 1,337. The Nasdaq Composite added 27 points to 2,887. Up, up, and away this morning. The financials are all trading up with the big banks higher by 2% or more. Bank of America is up 5% as a director bought stock. Genworth is jumping 14% on earnings. Mastercard is higher on an upgrade. Blackstone is higher following earnings and rumors they may make an offer for Brocade. Brocade is higher by 2%. Speaking of techs, Microsoft is at a new 52 week high. Netsuite and Novellus are higher on earnings. Intel, Apple, IBM, and Cisco are just under their 52 week highs. Corning is higher following a conference. In the energy space, Suncoke is up 4% on earnings. Mosaic is modestly higher even though they are lowering production. Clorox and Tyson Foods are higher on earnings. Urban Outfitter is jumping 6% on an upgrade. At 10 o'clock better than expected manufacturing numbers sent the averages higher with the Dow rising 150 points and the Nasdaq rallying 41 points. A great start to the year. The only sector selling off is the Utilities as money comes out of defensive issues. Through the morning and into the afternoon the averages remained strong moving sideways near the highs of the day. Only Merck and PG are in the red within the Dow. The Utilities remain in the red while the financials, energy and techs continue to lead the market. In the last hour the averages pushed higher. The Dow Jones Industrial Average rose 156 points, or 1.2%, at 12,862, its highest close since May 2008. The S&P 500 gained 19 points, or 1.5%, to 1,344. The Nasdaq Composite advanced 45 points, or 1.6%, to 2,905, its highest close since Dec. 2000. For the week, the Dow gained 1.6%. The S&P 500 rose 2.2% and the Nasdaq Composite rose 3.2%, the fifth straight week of gains for both indexes.
February 2, 2012
U.S. stocks rose Thursday after claims for jobless benefits fell more than expected last week, bolstering views of slow but steady improvement in the labor market. The Dow Jones Industrial Average added 22 points to 12,739. The S&P 500 climbed 2 points to 1,326. The Nasdaq Composite advanced 6 points to 2,854.The earnings keep flooding in. The financials are mixed this morning on earnings. Ameriprise, Blackstone, and Deutsche Bank are lower while Allstate, CME Group, and Mastercard are higher. Mastercard is higher by 6% helping lift the credit card space. Franklin Resources is higher on an upgrade. In the commodity space Diamond Offshore, Patriot Coal, and Royal Gold are higher on earnings. Hess is higher once again following news a couple days ago their CEO bought $5 million worth of stock. The retail sector is mixed. Kellogg, Goodrich, Big Lots, and TJX are higher on sales and earnings guidance. Sony and Ann Taylor are getting hit with both down over 7% this morning. Abercrombie & Fitch is down 12% this morning on earnings while Tractor Supply and Chipotle Mexican Grill are down 3% on earnings. Green Mountain Coffee is jumping 21% on earnings. Through the first hour the averages went nowhere. In the tech space Dell is higher on an upgrade. The rest of the big cap techs continue to perform well. Qualcomm is up 2% on earnings. Microsoft made a new 52 week high this morning. Through the morning into the afternoon the Dow fell into the red. The transports are lower following disappointing earnings from Ryder. The financials, techs, and energy space seem to be holding up the best. In the last hour the Nasdaq held on to gains while the Dow stayed put in the red. The Dow Jones Industrial Average finished down 11 points at 12,705 weighed by a 0.6% loss for International Business Machines. The S&P 500 edged up a point to 1,325. The Nasdaq Composite added 11 points to 2,859.
February 1, 2012
U.S. stocks rallied at Wednesday's start after economic reports from China and Germany topped expectations and interest rates in Spain continued to subside. The Dow Jones Industrial Average rose 104 points to 12,737. The S&P 500 Index added 10 points to 1,323. The Nasdaq Composite rose 17 points to 2,831. Everything looks great this morning as it's up, up, and away. The financials are shooting higher. Franklin Resources is higher by 3% after beating estimates. Blackstone is jumping 4% on an upgrade ahead of earnings. EastGroup Properties is higher on an upgrade. The REITs have been on fire so far this year. Aetna is higher by 3% following earnings while Aflac is bucking the trend, down 3% on earnings. The commodities are performing well this morning. Suncor Energy and Marathon Oil are higher following earnings. Suncoke Energy and US Steel are higher on upgrades. The techs are performing well this morning. Seagate is jumping 17% on earnings. Broadcom is higher by 6% on earnings while AOL is up 2% on earnings. Microsoft and Apple made 52 week highs this morning while Intel and IBM are not too far behind. Through the morning the averages pushed a little higher and held on to gains. In the retail space, Amazon is the dog of the day. Amazon is down 9% following disappointing sales and guidance last night. Whirlpool, on the other hand, is surging this morning following earnings and better guidance. Through the morning and into the afternoon the averages remained strong only pulling back in the last hour. The Dow Jones Industrial Average finished up 83.points at 12,716, its first gain in five sessions. The S&P 500 Index rose 11 points to 1,324, also breaking a four-day loss streak. The Nasdaq Composite gained 34 points, or 1.2%, to 2,848.
January 31, 2012
U.S. stocks opened higher Tuesday, readying Wall Street for its best January in years, on hopes for progress by European leaders in fighting the region's debt crisis. The Dow Jones Industrial Average rose 29 points to 12,683. The S&P 500 added 5 points to 1,318. The Nasdaq Composite advanced 10 points to 2,822. The earnings keep coming in with a lot of haves and have nots. The commodity and energy space is mixed. US Steel and Valero Energy look good thanks to earnings, but Archer Daniel Midland and Exxon are lower following earnings. Rare earth play, Molycorp is higher on an upgrade as is CF Industries. In the tech space Rudolph Tech is jumping 7% on earnings, but Integrated Devices, Tellabs and Lexmark are all lower by over 4% following earnings. In the retail space, Radio Shack is the dog of the day down 28% following earnings. Dicks and William Sonoma were upgraded, but both are lower. In the drug space Pfizer is unchanged following earnings. Biogen and Eli Lilly are higher after beating earnings estimates. Through the first hour the averages clung on to modest gains. The market however is looking tired. Through the morning the averages drifted lower. Most sectors are falling into the red. The financials are holding up the best with only GE and Metlife trading lower. Apple in the tech space is holding up well making a new 52 week high earlier this morning. Through the morning and into the afternoon the averages slowly improved. The financials and utilities are in the green. Healthcare, Transports and Industrials are in the red. In the last hour the Nasdaq moved into the green dragging the Dow back to the unchanged level. In the last hour the averages closed the books on Wall Street's best January in more than a decade. The Dow industrials lost 20 points to 12,632, up 3.4% for January in its fourth straight monthly gain. The S&P 500 fell less than a point to 1,312, up 4.4% for the month, while the Nasdaq Composite rose nearly 2 points to 2,813, up 8% for January. Both the Dow Jones Industrial Average and the S&P 500 recorded their best percentage jump for the month of January since 1997. The Nasdaq Composite recorded its best January since 2001
January 30, 2012
U.S. stocks opened sharply lower on Monday after reports Greece would not accept supervision of its budget decisions as a condition of receiving financial aid. "The failing of Greek debt restructuring talks at this late hour would be a disappointment," said Bill Stone, chief investment strategist at PNC Asset Management Group. The Dow Jones Industrial Average fell 101 points to 12,558. The S&P 500 shed 12 points to 1,303. The Nasdaq Composite declined 26 points to 2,790. Through the month, the US markets have been able to withstand the weakness in Europe until today. The financials are leading the weakness although all sectors are lower. Bank of America and JP Morgan were downgraded while Citigroup and Morgan Stanley were upgraded, but all the major banks are lower. Jefferies is down 5% as S&P downgraded their outlook on the firm. The energy and commodity space is getting hit. CF Industries is lower by 2% on a downgrade. Kodiak Oil & Gas is one of the few commodities higher after reporting results. In the retail space Wolverine Worldwide is modestly higher after beating results. Wendys, Weight Watchers, and Autozone are not reacting to upgrades. Staples is down 5% on a downgrade. Through the first hour the averages remained weak, but off the lows. A few techs are showing some life. Apple, IBM, and Microsoft are now in the green. Seagate and Motorola Solutions are modestly higher on upgrades. The dog of the day goes to newspaper company, Gannett down 7% following earnings. Through the morning into the afternoon the averages slowly recovered thanks to a few more techs and even some bank stocks moving into the green. The healthcare space is also improving. Amylin Pharmaceuticals is jumping by 20% thanks to approval of their diabetes drug. Through the afternoon the averages slowly improved crawling back to the unchanged level led by techs, banks, and healthcare. The Dow Jones Industrial Average finished down just 6 points at 12,653 with more than 1% gains for Microsoft, Verizon Communications and IBM helped blue chips recover from a 131-point intraday loss. The S&P 500 fell 3 points to close at 1,313, led by a 1% loss in financials. Tech and telecoms ended higher. The Nasdaq Composite fell 4 points to 2,811.