Showing posts with label nyse. Show all posts
Showing posts with label nyse. Show all posts

U.S. Stocks Zigzagged Early Friday

U.S. stocks zigzagged early Friday in a report better than expected jobs were not enough investors calm. The Dow Jones Industrial Average was recently down 8 points, or 0.1%, and 11 376 in volatile trade. Blue-chip index rose 171 points to the beginning of negotiations, but has lost all its profits in the first half hour of trading. Then it was restored after more than 70 percentage points less.

The Dow Jones fell 512 points Thursday, its biggest drop since December 1, 2008. It is in the red for the year and fell more than 10% below the closing high of 2011 in April, putting it squarely in the territory as the correction.

The Standard & Poor's 500 index fell 2 points, or 0.1% in 1198, led by financial stocks and low tech. Technology-oriented Nasdaq Composite lost 12 points, or 0.5%, to 2544, trade in the tender.

The action comes as the U.S. economy created 117,000 jobs last month was more than economists expected. The unemployment rate edged lower to 9.1%, which should help alleviate concerns that the next recession could be around the corner. Recent reports have shown a decline in private consumption, a slowing manufacturing sector and economic growth sluggish.

"One of the nice number is not enough to change the feelings in this moment," the president said Ted Weisberg Seaport Securities. "People are scared and do not want to take the risk off the table."

Investors had come to trading Friday with bated breath after roller coaster week, during which many began to lose confidence in the ability and willingness to include the governments of flood crisis.

European leaders are trying to expand the debt crisis, which began in Greece and spread to Italy and Spain. Previously, the bailout is now the greek seems to be insufficient. There are increasing concerns of European banks and their heavy investments in tax debt in big trouble.

Foreign markets, Europe was about to sell the European Stoxx 600 index hitting its lowest in over a year. Asian stock markets were sharply lower.

Not a single catalyst for a downdraft on Thursday, traders said. Rather, it reflects the concern that many have increased over the past month and culminated this week. Concern about a U.S. default shall be settled by a last-minute solution to raise the debt limit of the country Tuesday, have given way to more fears about the health of the failing economy.

Although the work report is a bright spot among the gloomy economic data in the U.S., some investors warned that it could be a temporary salve underlying concerns that the economy could be heading for a double dip recession.

"The market is still quite shocked and panic mode," said Binky Chadha, chief U.S. equity strategist at Deutsche Bank. "Our view is encouraged by today's employment, but this data does not break the panic."

Investors are also questionable how much longer the last run of strong corporate results to continue. In the midst of other disorders, corporate profits have been rare bright spot.

Thursday's killing of the Dow stocks was the ninth session in the last 10 years. With losses of 11.1% of 2.011 high hit in April, the index has entered the territory of the correction officer.

In new business, jumped from Procter & Gamble Co. 's earnings in the fourth fiscal quarter of 15% as sales increased worldwide. But the world's largest consumer goods company has been prudent in the current quarter, where price increases have not caught up with rising costs. Shares rose 0.6%. Inc. surged 10% after the company's online travel services reported second quarter results and outlook for the third quarter were better than expected.

LinkedIn Corp. second quarter profit rose 5.1% on strong revenue growth as the professional networking site added subscribers, a display performance for the company quarterly earnings since going public. Stocks erased morning gains and were recently down 1.6%.
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Dow Jones Industrial Average Shed

U.S. stocks fell Thursday, erasing an early manifestation as weak manufacturing data and concern that companies could still degrade the note relief of U.S. government Credit investors controlled about a debt ceiling agreement.

Dow Jones Industrial Average shed 110 points, or 0.9%, to 12,033 in the business of the afternoon. Previously, he briefly dropped below 12,000 for the first time since late June The action Monday on the volatile market as the increase in blue-chip index as much as 139 points immediately after opening as investors welcomed the agreement of debt weekend, only to fall into the mid-morning trading.

Standard & Poors 500-stock index fell 14 points, or 1.2% to 1278 recently, with all sectors except telecommunications losing ground. Nasdaq Composite lost 35 points, or 1.3% to 2721st

Stocks turned negative after a reading on the manufacturing sector for July has virtually no extension, renewing concerns about the state of the U.S. economy. The data did little to support the investors hope that the economic "soft patch" seen in years, and the day after the earthquake and tsunamis in Japan would give way to stronger growth in the second half.

Markets were wary of the negotiations of the United States, where the debt ceiling House and Senate have been invited to vote during the weekend plan during the afternoon. Another look at the weekend prompted some legislators pact investors feared that the transaction would not be sufficient to avoid the threat of ratings downgrades. There were also concerns that the length of conversations and severity of market movements have been started to have an impact on the economy in general.

"It 'clear that what happens in Washington affects the whole economy," said Gary Flam, portfolio manager at Los Angeles Bel Air Investment Advisors. "No more [Topics debt] to go, the more headwinds in front of us. Bulls argument was [that] you have the acceleration of the economy in the second half. And 'now called the issue".

Losses in the afternoon to get their stocks to be added to the decline of the track last week, the Dow's biggest weekly point swoon since May 2010, came as investors fretted that Washington had run out of time to fulfill the obligations of public expenditure last August 2.

Healthcare stocks were the S & P 500 worst, when he said he would cut Medicare payment rates for facilities for elderly people 11.1% in the next fiscal year, sending shares of health workers has fallen . The decision to adjust the Centers for Medicare and Medicaid Services, calls to the unexpected increase in nursing home costs this fiscal year.

Kindred Healthcare fell 31%, while Sun Healthcare Group cast Healthcare Group 53% and 44% of lost talent. Sunrise Senior Living lost 5.9%.

Merck paid 3.3% lead losers in the blue-chip Dow. Home Depot was also weak, down 2.3%.

Earnings and company reports, news headlines have been largely overshadowed by the roof of debt negotiation and the reading of the weakness in manufacturing.

"It's a combination of what is happening in Washington this morning, and macroeconomic big picture," said Joe Jennings, director of investments for the region in Maryland PNC Wealth Management.

In new business, shares in the U.S. appearing HSBC Holdings rose 2.2% after the bank reported revenue for the first half of the year that beat estimates and said it was cutting about 30,000 jobs to reorganize its global operations.

PAETEC Holdings rose 20% after the telecommunications company in rural Windstream said it plans a $ 891 million purchase of all shares in the company, which focuses on the provision of broadband services and other businesses. Windstream's shed 1.1%.
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