The pressure is on for those earnings to support the market's current valuations, after weeks of choppy trading.» Read More
On a week dominated by the toxic asset plan, better-than-expected housing and durable goods data, the markets rally through their third straight week of gains. The last time all major indices rose for three consecutive weeks was the week ending May 2, 2008.
Wednesday was a nutty day. The scheduled economic news was better than expected following the recent trend of news reports.
After a seesaw day yesterday, the Dow Industrials, S&P 500, and Nasdaq Composite are still posting strong weekly gains. As of Wednesday’s close, the Dow is up 6.5%, the S&P is up 5.9%, the Nasdaq is up 4.9% on the week, putting them well on track for gains for the third straight week.
The Dow rallied late day Wednesday as upbeat housing and durable goods data fueled hopes that the low point in the current economic downturn may have passed.
The major indices have some distance to go today if they are going to break weekly records. However, there are 4 Dow components that are on track for their best week in at least 40 years...
The F-35 Joint Strike Fighter from Lockheed Martin is the most expensive defense program in history. Costs could reach $1 trillion, between buying the aircraft and supporting it for decades.
Last night on Fast Money, Guy Adami mentioned that "the PE is very compelling" for Hewlett Packard. Many of the PE's for the Dow 30 are at historic lows. Here's a "By the Numbers" look at current PE's and implied valuation.
General Dynamics is drawing call activity as Wall Street analysts appear conflicted over the outlook for GD and other defense contractors. Options traders are playing a May 40-45 call spread that is looking for General Dynamics to bounce after dropping more than 30 percent in the last quarter.
The latest overall job loss numbers showed a loss of 651,000 jobs in January and the unemployment rate climbed to 8.1%. This is the highest unemployment rate since 1983. The January and December numbers were revised to a loss of 655,000 and 681,000 respectively. 4.4 million jobs have now been lost since this recession began. Here is a breakdown of where the job losses were as well as which sectors were adding jobs.
The number of job cuts continued to soar in February 2009, reflecting the worsening US recession.
Two months into the year, the average dividend yield of the Dow 30 has continued to rise since the start of 2009, despite some significant dividend cuts like those from CNBC parent, General Electric. See how the 30 companies in the Dow compare.
More companies announced layoffs this week as the employment picture continued to dim. JPMorgan Chase and Chesapeake Energy were among the latest names on Thursday to announce job cuts.
The Dow Industrials, Dow Transports, and Dow Utilities are all hitting multi-year lows now. While the Dow Industrials and Dow Transports have been closing at new lows for days, the Dow Utilities closed below its October low for the first time on Friday.
Finishing the day at 7,114.78 yesterday, the Dow closed at its lowest level since May 7, 1997. 7 of the 30 current Dow components were not in the index when the Dow last saw these levels.
As the Dow now contains five stocks under $10 (GM, C, BAC, AA, & GE), the Dow Industrials index has come under greater scrutiny on whether it is still a good gauge of the overall market.
Regarded as a safe investment, gold often shines during turbulent times when increased demand typically drives up prices. For the first time since last March, gold settled above $1,000 an ounce on Friday. Since its low back in November, when gold was just over $700 an ounce, the bullion has risen 42%. During the same period the S&P 500 has plunged 15%.
Stocks started to claw back in the final hours of trading Friday after fears of nationalization smacked banks and sent the Dow to its lowest point in more than 10 years.
When President Obama’s Auto Team meets for the first time Friday morning, it will be off camera, behind closed doors, away from reporters. Maybe that's good. After all, fixing this industry could be messy, very messy.
It may seem like the country that used to make everything is on the brink of making nothing.
With Congress passing Obama's much lauded stimulus package, trillions of dollars are headed towards the economy. But the markets' aren't liking what they see or hear. The truth is that while a stimulus package might help, it does not heal the fundamental ill -- we all spent too much for too long.