Monthly Archives: February 2012

The Dow Jones Industrial Average closed above 13000 points for the first time in nearly four years Tuesday, after attempting and failing to break the psychological barrier in five previous tries over the last week. The Dow Jones Industrial Average ended the day up 24 points, or 0.2%, to 13005. The index has not closed above the milestone since May 19, 2008. The Standard & Poor’s 500-stock index closed up 4.6 points, or 0.3%, at 1372.
Read more…

The Australian share market is poised to open steady following a mixed session on Wall Street overnight. The Dow Jones ended slightly lower off -1.44 points to close at 12,981.51 while the S&P500 edged up 0.1 percent to close at 1367.59, after recovering from some early losses in the session. The number of Americans filing new claims for jobless benefits last week held at the lowest level since 2007. Read more…

Trading was subdued in the US Friday night, The Dow managed to push higher in early trade, however, again sold off to close below the psychological 13000 level. The Dow Jones Industrial average closed down 1.74 points at 12982.95, despite the consumer sentiment index rising to its best level in almost a year, gaining to 75.3 in February, and New Homes sales coming in better than expected at 321000 against analyst expectations of 315000. The S&P logged its best finish since June 2008, up 2.28 points or 0.17% to close at 1365.74, whilst the Tech oriented NASDAQ pushed up to 12 year highs, up 6.77 points or 0.23% at 2963.75. Read more…

US stocks overcame early losses as a new round of economic data whetted investors’ appetites along with strong performances from individual stocks helped the major indices. The Dow Industrials gained 46 points to 12,984.69 closing in on the psychological 13,000 level, the tech heavy NASDAQ gained 23.81 to 2956.98 points while the S&P 500 put on 5.8 points to 1363.46.
Read more…

The Dow closed down 27 points as the market fails to break through the 13 000 resistance level, on the back of worse than expected US home sales data. Sales of homes that were previously owned increased to 4.57 million per annum which failed to meet analysts’ estimates. Adding to the selling pressure was monthly data from China showing that manufacturing fell again which is the fourth time in a row. Manufacturing in Europe also fell which was not expected. The underlying fear remains that Greece will default later this year as Fitch has reduced the country’s credit rating from CCC to C which is one grade before formal default. Stocks hit the hardest were Dell, down over 5% and KB Home falling more than 4%. Bank stocks also fell strongly as there is not much confidence that Greece’s bailout package will be suffice.

Read more…

The Dow Jones Industrial Average pierced the 13000 level for the first time in almost four years, but traded largely below the mark in a choppy session in which stocks turned negative at times. The Dow broke through 13000 before noon on Tuesday and a handful of other times throughout the day, but ended the session at 12965.69, up 15.82 points, or 0.12%. The Dow last traded at the 13000 level on an intra-day basis on May 20, 2008. Read more…

With the US market closed for Presidents day, overnight leads stemmed from Europe; in the UK the LSE managed a 0.7% gain, the French CAC was up 1%, and Germany’s DAX lead from the front up 1.5% for the session. The key driver for the move was to make up some ground post Bejing’s move to cut its bank reserve requirement ratio by 50 basis points, an announcement that assisted the XJO to close on its highs for yesterday’s session up 60 points as fears of a spike in inflation subsided. Read more…

US markets closed modestly higher Friday night on continued positive economic data and as European leaders signalled progress towards a Greek debt deal. The Dow Jones Industrial Average managed a 45.7 point gain to close at 12949, making fresh 3 year highs and just 50 points from the psychologically important 13000 level where it rejected and sold off heavily in May 2011. The S&P500 finished 3.19 points higher at 1361.23 whilst the Tech oriented NASDAQ lost ground, closing down 8 points at 2951. The Volatility Index fell over 5% to close at 17.8. Read more…

Overnight the Dow Industrials rebounded off the lows to close at its highest level in almost four years after positive reports from the labour and housing markets and some progress in Europe pointing to a second bailout for Greece. The Dow Jones Industrial average ended the session higher by 123 to 12,904 points, the NASDAQ composite continued its recent rally closing up 44 points or 1.51% while the S&P 500 gained 14.8 points to 1,358. Leading the market were technology and material stocks, among the gainers, Microsoft rose 4.7% and Bank of America added 3.4%. Read more…

US stocks fell by 97 points on the back of news that euro zone officials may consider delaying the passage of the second round of the Greek bailout until April when Greece holds its elections. Adding to the sell off was Federal reserve reports showing that industrial production was unchanged last month when analysts had expected a rise of 0.7%. The biggest decliners were Caterpillar, General Electric and United Technologies all shedding over 1%. Selling pressure was dampened by some positive news out from China where its central bank will increase its stake in European assets. In other positive news, minutes from the US Federal reserve meeting revealed the central bank’s commitment to implement further easing measures should the economy struggle to grow. Gold edged higher finishing up $1.80 an ounce at $1723.50. Oil continued its climb as it made a four week high still holding above the $100.00 a barrel mark. Read more…