Nasdaq Composite •

US stocks drop from latest records on soft car sales, Iran nuke comment

A day after Dow and S&P hit record high levels, the stocks at the Wall Street dropped on Tuesday, as Nasdaq retreated after hitting a 15-year milestone after cold car sales data and commentary by Iran raised high concerns among some investors.

The decrease in US stocks followed a strong run-up for key indexes in the month of February and ahead of a series of economic data to be released later this week, concluding with the monthly payrolls report.

The American vehicle sales slowed down for the second year in a row in February, thanks to the tough winter weather conditions. Several automakers missed the projections made by the market analysts. The shares of US-listed Fiat Chrysler dropped three percent to USD 15.32, while Ford Motor fell 2.5 percent to USD 16.16.

On Wednesday morning, Israeli Prime Minister Benjamin Netanyahu cautioned US President Barack Obama against approving a nuclear agreement with Iran. According to him, the deal would be a “countdown to a potential nuclear nightmare by a country that will always be an enemy of America.”

The S&P 500 fell 0.48 percent, or 10.14 points, to 2,107.25, while the Dow Jones industrial average dropped 0.45 percent, or 82.17 points, to 18,206.46. On the other hand, the Nasdaq Composite declined 0.64 percent, or 32.01 points, to 4,976.08.

Decliners outnumbered advancers 1,818 to 1,193, for a 1.52-to-1 ratio on the NYSE, 1,744 issues dropped and 954 advanced, for a 1.83-to-1 ratio on the Nasdaq.

The S&P 500 was recording nine new 52-week highs and no new lows, while the Nasdaq Composite was posting 27 new lows and 63 new highs.

Wall Street stocks tumble after weaker growth in Q4

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The month of February turned to be stronger month for the US stocks, but it ended in modest fashion.

The US economy grew at the annual pace of 2.2 percent in the fourth quarter, according to the US Commerce Department. The expansion of economic activity was sluggish in the fourth quarter of 2014 as it was restrained by a widening trade gap and smaller gain in stockpiles.

Major stock indexes were lower on Friday at the closing trade as they capped a week of subdued trading that continued delivering a couple of new highs for both Standard & Poor’s 500 index and Dow Jones industrial average. The Nasdaq composite was also brought within outstanding distance of its 2000 high in March.

The Nasdaq witnessed the largest monthly gain at 7.1 percent, while the S&P 500 saw 5.5 percent gain that marked its best monthly hike since October 2011, and a turnaround from its drop of 3.1 percent recorded in January. The Dow Jones industrial average increased 5.6 percent for the month.

TD Ameritrade’s chief strategist JJ Kinahan, said, “It’s a wait-and-see attitude. Many people are trying to figure out what to do, taking some profits when they can. We saw that over the past couple of days with tech stocks.”

The S&P 500 slipped 6.24 points, or 0.3 percent, to 2,104.50, while the Dow ended down 81.72 points, or 0.5 percent, to 18,132.70. The S&P 500 index slipped 0.5 from a high of 2,115.48 on Tuesday and Dow was 0.5 percent below its latest high of 18,224.57 on Wednesday.

The Nasdaq, on the other hand, dropped 24.36 points, or 0.5 percent, to 4,963.53. The index has inched closer to crossing the 5,000-point mark.

The three main stock indexes of the United States are all up for the current year.

The current bull market, which is now in its sixth year, turned stronger after being boosted by healthy growth in corporate earnings and low rates of interest, which make stocks more attractive relative to bonds.

The improving consumer confidence and strong growth in the jobs front also encouraged traders, despite indications of sluggishness in Europe and elsewhere.

US stocks ease after Fed minutes, S&P closes at all-time high

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The declining trend in the US stock market reported an ease on Wednesday afternoon after the Federal Reserve came out with its minutes following the conclusion of January meeting that showed the policy makers uninterested in raising the interest rates anytime soon.

As of 2:13 p.m. Eastern time, the S&P’s 500 index fell two points, or 0.1 percent, to 2,098. The index on Tuesday closed at an all-time high of 2,100. On the other hand, the Dow Jones industrial average declined 14 points, or 0.1 percent, to 18,034 and the Nasdaq composite dropped one point to 4,898.

The Fed meeting minutes revealed that the officials were highly concerned over the inflation problem as well as the lingering issues in the labor market. The US central bank’s benchmark rate of interest has been at a record low near zero since December 2008.

The investors are anticipating over a possible rate hike by the Federal Reserve between June and September.

The prices of oil remained volatile with the latest rally appearing to flag. The benchmark US crude, which was reported on the rise last week, declined USD 1.19 at USD 52.34 a barrel on Wednesday. Brent crude tumbled USD 1.32 to USD 61.20 per barrel.

The promising jobs reports and the company earnings have encouraged the investors.

Sean Lynch, co-head of global equity strategy with Wells Fargo Investment Institute, said, “Investors are starting to look beyond oil and the currency strength and they are looking at the underlying economy as a positive.”

For the fourth quarter, most firms featuring in the S&P 500 index have reported their results. According to S&P Capital IQ, the earnings are forecast to jump by 7.6 percent after all the results comes in.

The prices increased in the government bond trading, while the yield on Treasury note of 10-year dropped to 2.07 percent from 2.14 percent on Tuesday.

The US dollar emerged stronger against the euro, pushing the currency down to USD 1.13. The greenback was little altered against the Japanese yen.

US stocks surge on Greek debt deal hopes, energy tumbles

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The US stocks posted a modest increase on Tuesday on Coca-Cola earnings and hopes over a probable deal in Greek debt negotiations, but a decline in the energy shares contributed to limit the advance.

The S&P 500 surged 0.36 percent or 7.45 points to 2,054.19, while the Dow Jones industrial average surged 0.26 percent or 45.85 points to 17,775.06. On the other hand, the Nasdaq Composite gained 0.52 percent or 24.66 points to 4,750.67.

The shares of Coca-Cola Co jumped 3.2 percent to USD 42.53 to contribute in lifting both S&P 500 and Dow. The company reported a better-than-expected sales as well as profit in its biggest market, North America, which rose for the first time in the four quarters to balance the impact of a strong dollar on its overseas business.

The first drop in the prices of oil in the continuous four sessions reflected on the energy stocks as the S&P energy index fell 1.3 percent, turning as the worst performer of the 10 major S&P sectors.

The US crude CLc1 fell 3.4 percent to USD 51.04, while Brent LCOc1 tumbled 1.8 percent to USD 57.30 after the International Energy Agency (IAE) cautioned against more selloffs in the near term amid the continuous rise in stockpiles.

Aeropostale increased 14 percent to USD 3.01 as the apparel retailer chain witnessed better-than-expected sales during the holiday season and encouraged its outlook during the fourth-quarter.

The US wholesale inventories hardly surged in December, the latest indication that the growth in fourth-quarter could be revised at lower level.

The declining issues outnumbered the advancing ones at the New York Stock Exchange by 1,718 to 1,193, for a 1.44: 1 ratio. On the other hand, 1,311 issues dropped and 1,261 advanced on the Nasdaq, for a 1.04:1 ratio.

The S&P 500 recorded 18 new 52-week highs and just two new lows, while the Nasdaq Composite posted 28 new highs and 26 new lows.

US stocks post second day of strong surges on higher oil price

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The US stocks surged over one percent on Tuesday due to the zooming energy shares, as the prices of oil extended their latest rally. On the other hand, the higher-than-expected car sales in January also fuelled the advance in the stock market.

The merger activity also assisted with Office Depot shares gaining 21.6 percent to USD 9.28 following the reports of advanced level of merger talks with Staples Inc. The shares o Staples were up 10.9 percent to USD 19.01.

The S&P 500 has jumped 2.8 percent over two sessions as the bounce back in the prices of oil as well as the hopes of a Greek debt agreement eased some serious concerns about the global economy, but the index has been shut in a trading range between 1,972 and 2,093 since mid-December and is nearly flat since December 31.

The market analysts say so far the current year has been marked by volatility, with the daily trading range of S&P 500 often more than double its average in the past year.

The US crude oil prices also increased 7 percent, before settling at USD 53.05. The Brent and the oil prices in the US have surged nearly 19 percent since the close on Wednesday. The S&P 500 energy index jumped 2.8 percent.

The Dow Jones industrial average surged 305.36 points or 1.76 percent to 17,666.4, while the S&P 500 added 29.18 points or 1.44 percent to 2,050.03. The Nasdaq Composite gained 51.05 points or 1.09 percent to 4,727.74.

The S&P 500 recorded no new lows but 19 new 52-week highs, while the Nasdaq Composite posted 34 new lows and 65 new highs.

Mixed US economic data pulls back US stock markets

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Major US stock indexes shifted lower during the afternoon trade on Friday, maintaining the track for their third day of downfall this week.

The analysts said that the latest government data, which showed a slowdown in the economic growth of the United States, helped to hold back the stocks to mostly lower level.

The Dow Jones industrial average declined 106 points or 0.6 percent to 17,310 at 1:02 pm Eastern, while the Standard & Poor’s 500 dropped 11 points or 0.6 percent to 2,009. On the other hand, the Nasdaq composite fell four points or 0.1 percent to 4,678.

The US Commerce Department reported that the country’s economy continued to grow 2.6 percent in the October-December quarter, down from a rise of 4.6 percent in the second quarter as well as 5 percent during the third quarter.

The consumer spending growth was offset due to weaker business trade, investment and government spending.

The US Labor Department, on the other hand, reported that benefits and wages increased 2.2 percent in 2014, which is the fastest pace in six years.

The US Federal Reserve Bank is closely keeping a watch on the wages as it considers when to raise the interest rates from near zero this year.

Nine out of the ten sectors in the S&P 500 dropped with the industrial stocks dropping the most.

Chevron’s shares fell 2.4 percent after the oil firm reported a 30 percent drop in fourth-quarter profit. The stock was the biggest decliner in the Dow as it dropped USD 2.48 to USD 100.55.

E-commerce giant Amazon.com’s shares surged 13.7 percent a day after the company beat expectations of quarterly profit by a mile. Its stock gained USD 42.80 to USD 354.50.

The US crude prices increased USD 1.04 or 2.4 percent to USD 45.58 per barrel in New York. On the other hand, the contract surged 8 cents to close at USD 44.53 on Thursday.

The US dollar dropped to 117.41 yen from 118.20 the previous day, while the euro declined to USD 1.1291 from USD 1.1327. The Russian ruble fell to 70.11 rubles per US dollar from 68.76 after the US Federal Reserve Bank unexpectedly slashed the interest rates to 15 percent from 17 percent to support the weakening economy.

The government bond prices increased and the yield on the 10-year Treasury note dropped late Thursday to 1.66 percent from the previous 1.75 percent, which is the lowest level since May 2013.

US stocks decline after Federal Reserve stays interest rate hike

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The US stocks dropped slightly during a volatile trade on Wednesday after the Federal Reserve Bank vowed for remaining “patient” in deciding over raising interest rates, saying the American economy is back on track.

The US central bank on Wednesday concluded its first crucial policy meeting of the year. The Fed officials had kept a close watch at the urgent policy moves by the central banks of other countries this month in order to boost their struggling economies and witnessed continued expansion on economic front in the United States.

Bruce McCain, chief investment strategist at Cleveland-based Key Private Bank, said, “Being ‘patient’ means the Fed is in no hurry with respect to inflation or any other factor in the economy that it is watching. This isn’t surprising at all. The Fed was always more patient than other observers.”

At 2:31pm, the S&P 500 fell 7.63 points or 0.38 percent to 2,021.92, the Dow Jones industrial average dropped 17.47 points or 0.1 percent to 17,369.74, and the Nasdaq Composite gained 1.15 points or 0.02 percent to 4,682.65.

The dropping issues outnumbered the advancing ones on the NYSE by 1,822 to 1,199, for a 1.52-to-1 ratio; on the Nasdaq, 1,649 declining issues fell and 1,013 advanced, for a 1.63-to-1 ratio.

The S&P 500 posted 58 new 52-week highs as well as 10 new lows. On the other hand, the Nasdaq Composite recorded 72 new highs as well as 51 new lows.

US stocks tumble unexpectedly on discouraging earnings, data

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The US stocks dropped sharply on Tuesday as shares of Caterpillar and Microsoft tumbled after the quarterly results were out, while an unexpected fall in the orders of durable goods weighed on sentiment.

After the Dow component reported results, tech giant Microsoft dropped 10 percent to USD 42.27 for the day. The major engine of its historic earnings power, selling Office and Windows to big businesses, has been showing signs of fading.

The shares of Caterpillar, a mining and construction equipment making company, declined 7.5 percent to USD 79.52 after its net profit came in below the expectations of the market.

Several multinational firms have posted discouraging turnouts and forecasts, with the stronger dollar turning out to be a common culprit.

Adding to the concerns on the front of earnings, a gauge of American business investment plans dropped in an unexpected way in the month of December, signaling that the slowing growth globally and declining prices of crude oil were beginning to have an impact on the economy.

The US consumer confidence posted its highest reading since August 2007.

Brian Jacobsen, chief portfolio strategist at Wells Fargo Funds Management in Menomonee Falls, Wisconsin, said, “US equities could come under pressure as investors ratchet down their growth estimates for the US economy. There was just too much hype about the US economy having risen into a new and higher growth channel. We’re still stumbling along.”

At 10:19 am EST (1519 GMT), the S&P 500 fell 27.05 points or 1.31 percent to 2,030.04, while the Dow Jones industrial average dropped 294.37 points or 1.67 percent to 17,384.33. On the other hand, the Nasdaq Composite declined 81.82 points or 1.71 percent to 4,689.94.

1,770 issues dropped on the Nasdaq, while 684 advanced for a 2.59-to-1 ratio supporting decliners. On the New York Stock Exchange (NYSE), the dropping issues outnumbered advancing ones by 2,059 to 848 for a 2.43-to-1 ratio.

The S&P 500 recorded 29 new 52-week highs as well as 10 new lows; while the Nasdaq Composite posted 24 new highs and 30 new lows.

US stocks fall as energy shares decline on lowering oil prices

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The US stocks dropped for a second consecutive session on Monday, led by another major decrease in the energy shares, as the prices of global oil fell nearly five percent amid growing concern ahead of corporate earnings season.

The prices of oil extended their recent free-fall following the cut in Goldman Sachs’ short-term price forecasts, while the Gulf producers showed no indications of curbing output.

The S&P energy index fell 2.8 percent, the largest drag on the S&P 500. Brent declined 5.3 percent to settle at USD 47.43 and US crude CLc1 tumbled 4.7 percent to USD 46.07.

Tim Ghriskey, chief investment officer of New York-based Solaris Group, said, “Crude oil is heading down again here. That’s sent us into negative territory again. There’s a lot of confusion and concern about the impact of oil prices.”

The profit forecasts for energy companies featuring at S&P 500 have sharply declined in the recent months, with fourth-quarter earnings for the energy sector now expected to have dropped 21.1 percent from a year ago, a news agency data showed. Meanwhile, the earnings for all of the S&P 500 are likely to have surged only 3.8 percent over the year-ago period.

“What everybody is concerned about is what managements are going to say about crude oil and about global economies,” Ghriskey said.

The Dow Jones industrial average dropped 96.53 points or 0.54 percent to 17,640.84. While the S&P 500 reported loss of 16.55 points or 0.81 percent to 2,028.26, the Nasdaq Composite declined 39.36 points or 0.84 percent to 4,664.71.

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