Toll Brothers up 12 percent, leading builders higher today, and with good reason: the company reported that orders to buy homes INCREASED 3 percent year over year, the first year over year increase in 4 years.
Expect the Fed to continue their purchase of Treasuries, agency debt, and mortgage-backed securities and most feel the Fed will leave the purchase programs as is and not expand the programs.
Futures indicated a slightly higher open for the U.S. stock market Wednesday, following the previous day's losses of roughly 1 percent, ahead of the Federal Reserve policymakers' issuance of their latest economic pronouncements at about 2:15 p.m. New York time.
The Chinese market is likely to fall 25 percent, taking U.S. stocks with it, with the S&P 500 possibly falling below 800, Robin Griffiths, technical strategist at Cazenove Capital, said Monday. But then U.S. indexes will rise again for a substantial amount of time, with the Dow estimated to rise to 1,250, he added.
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Both the Dow and S&P 500 tumbled Monday, marking their worst slide in a month, after manufacturing data and a commodities sell-off dragged down investor sentiment.
Although the Dow closed at its highest level since January 6th, Tony Dwyer, equity market strategist with FTN Equity Capital Markets, isn't convinced a recovery is imminent. But for David Kelly, chief market strategist with JPMorgan Funds, it's a sign the "economic fog" is starting to clear.
About three months ago, as the unemployment rate began to really spike, it became all the corporate rage to offer “peace of mind” should you lose your job. That came in the form of various insurance-esque guarantees.
Stocks snapped a four-day winning streak Wednesday after a trio of weak economic reports tarnished the shine on recovery hopes. Wal-Mart led the few Dow gainers after an analyst's remarks.
Stocks pared their losses Wednesday after a trio of weak economic reports got the market off to a lower start. Wal-Mart led Dow gainers after an analyst's remarks.
Stocks snapped a four-day winning streak on Wednesday after a trio of weak economic reports tarnished the shine on recovery hopes. This morning's ADP jobs report showed U.S. private employers shed 532,000 jobs in May, fewer than the upwardly revised 545,000 jobs lost in April, but more than 520,000 expected. Experts commented on the above and more. Read and listen to what they had to say...(UPDATED)
Stocks retreated Wednesday as a weak ADP report on the employment situation, and misses on both ISM services and factory orders offered a reminder that the economy isn't out of the woods.
ADP said May private sector jobs fell by 532k, about in line with expectations of a drop of 525k. The good news is that the level of job losses has clearly stabilized; the bad news is that we are still not seeing much of an increase in hiring. Bottom line: unemployment rate will continue to rise, at least in the near future.
Stock index futures pointed to a lower open Wednesday ahead of key jobs and mortgage data and comments from Federal Reserve Chairman Ben Bernanke on the state of the economy.
Home builder Toll Brothers reported a loss for its fiscal second quarter Wednesday that was slightly wider than analysts predicted, as revenue halved from the same period a year ago.
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