Economy

Dow, S&P 500 Poised For 5th Straight Weekly Gain; Steel Names Rise

Dow, S&P 500 Poised For 5th Straight Weekly Gain; Steel Names Rise”

Clothing companies and other retailers fell after women's clothing company J. Jill slashed its third-quarter forecast. J&J rose about 2 percent after Jefferies upgraded the stock to "buy", saying the company's pharma division would help it top analysts' profit estimates.

AT&T had its worst one-day loss since 2008 after it said lost more satellite and cable TV subscribers in the third quarter.

The focus will now shift to JPMorgan Chase and Citigroup, which report results on Thursday, with analysts warning that bank results will largely be held back by a lack of volatility, compared with a year earlier.

Using Nasdaq as the proxy tech index, technology stocks have outperformed the broader market indices - Dow Jones Industrial Average and S&P 500 - so far this year. In the 12 months through September, the index rose 2.6 percent.

For the week to Thursday the S&P 500 is up 1.60 points, or 0.1% and t he Dow is up 67.34 points, or 0.3%.

Crude oil was about 1.46 percent higher with prices at $51 per barrel.

Bank of America, the second-biggest United States bank by assets, rose 1.10 per cent after the lender's profit topped estimates due to higher interest rates and a drop in costs.

Six of the 11 major S&P sectors were higher, led by a 0.7 per cent gain in the technology index, which had led much of the market's rally this year.

On the economic front, the Labor Department said its producer price index for final demand increased 0.4 percent last month after rising 0.2 percent in August.

The Dow Jones Industrial Average climbed 30.71 (+0.13 percent) to finish at 22,871.72.

All three indexes finished at all-time highs.

The Russell 2000 index of smaller-company stocks slipped 1.08 points, or 0.1 percent, to 1,506.92.



Like this

Latest


14 October 2017
Earnings Analysis Of Lloyds Banking Group plc (LYG)
The NASDAQ Composite also declined -0.18 percent. (NYSE: DDR ) scoring -1.23% to reach at $8.83 during previous trading session. Employing the use of the moving average for technical equity analysis is still highly popular among traders and investors.

14 October 2017
Research Ratings: Transocean Ltd. (RIG), IAMGOLD Corporation (IAG)
The firm owned 42,584 shares of the offshore drilling services provider's stock after selling 44,400 shares during the quarter. For the past 5 years, the company's revenue has grown -10%, while the company's earnings per share has grown -34.6%.

14 October 2017
Mizzou, KU Basketball To Play Exhibition Game For Hurricane Relief
A limited number of tickets for Mizzou students will be available for purchase starting Tuesday, Oct. 17. Tiger Scholarship Fund members will have the first opportunity to buy tickets from Mizzou's allotment.

14 October 2017
Allen Park Gas Station Carjacking Fails; Trucker Tries to Grab Suspect
After interviewing the victim Friday morning, Thorburn said police are convinced this appears to have been a crime of opportunity. The video ends showing the man run in front of traffic on Roosevelt and head west, toward the railroad tracks.

14 October 2017
Stock for Investors Portfolio: Teva Pharmaceutical Industries Limited (TEVA)
Teva Pharmaceutical Industries Limited (NYSE: TEVA ) last announced its quarterly earnings results on Thursday, August 3rd. Cornercap Investment Counsel Inc bought 13,343 shares as the company's stock declined 9.80% while stock markets rallied.

13 October 2017
Qualcomm wants Apple to stop production and sales of iPhones in China
Although Apple doesn't use Snapdragon processors in its iPhones, it's still on the hook for numerous patents Qualcomm owns. The two companies are months into a legal dispute that centers on Qualcomm's technology licensing business.

13 October 2017
Important Factors to Analyse a Good Investment: The Walt Disney Company (DIS)
Canada Pension Plan Investment Board raised its position in shares of Walt Disney Company (The ) by 8,245.5% in the first quarter. Out of 2 Wall Street analysts rating Cytokinetics, 2 give it "Buy", 0 "Sell" rating , while 0 recommend "Hold".

13 October 2017
SpaceX Launches Communications Satellite, Lands Booster
It was the third time that SpaceX had flown a previously used 1st stage, and the 15th launch this year (with another half-dozen likely by year-end).

13 October 2017
Trump says he met 'President' of US Virgin Islands
"There's no president of the United States other than the president of the United States". Yeah, the Virgin Islands is a part of the United States.

13 October 2017
Bitcoin Price Hits Lifetime High - Smashes Above $5100 Barrier
After the Chinese ban, the Japanese yen consolidated the global trade volume, with 57 percent of bitcoin's fiat exchange volume. The rise is remarkable because there has been quite a bit of unfavorable news about Bitcoin in recent weeks.



Recommended