Stocks closed near their best level in thin trading Thursday, with the S&P rallying to 1,400, as hopes for further stimulus from the Federal Reserve seemed to overshadow worries over the jobs market and some tepid earnings reports.
Find out what’s going up, what’s going down and whether our traders would double down, fade or run in the other direction!
Why are we up today? You can thank the long reach of Fed Chairman Ben Bernanke. Love him or hate him, love QE3 (quantitative easing) or hate QE3, Mr. Bernanke has gotten good at this game.
United Parcel Service reported quarterly earnings and revenue that improved over the past year but missed analysts' forecasts, sending its shares lower in trading on Thursday.
A trio of problems for stocks today: lower euro; weak initial jobless claims (disappointingly high for the second week in a row); and choppier earnings reports.
Futures lost footing Thursday, dipping into negative territory, following the weekly jobless claims report that showed the four-week moving average rose to its highest since January and following a handful of earnings news that disappointed.
Take a look at some of Thursday's morning movers.
The Postal Service has been identifying ways to cope with the decline of traditional mail over the years, only to have companies — and ultimately Congress — object. The New York Times reports.
The hole in the pension plans of US labor unions now stands at $369 billion, Credit Suisse has calculated with the aid of new reporting standards. This raises the prospect of higher pension contributions for employers and deteriorating industrial relations. The Financial Times reports.
In a logistics debut, Amazon acquired order fulfillment company Kiva Systems. So will it add FedEx or United Parcel Service to its list of rivals? The competition has already begun, says Ben Schachter, Internet analyst at McQuarie Securities.
A new Web-based portal has been created to help small businesses gain access to more than $300 billion in combined supply-chain spending by a consortium of 15 of America’s largest corporations.
Snap-on Tools is one of several franchises that have been offering financial discounts and special training for veterans who are looking to transition back to civilian life.
Stocks closed in negative territory Thursday, on track to log its worst week this year, as economic concerns over China and the euro zone overshadowed a better-than-expected jobless claims report.
A breakdown of FedEx earnings and the impact of fuel prices on transportation, with John Barnes, RBC Capital Markets managing director.
When FedEx reports earnings and holds its conference call Thursday, Jefferies analyst Peter Nesvold will be waiting to hear how fuel costs affected the bottom line.
Stifel Nicolaus downgraded UPS in a research note on Tuesday, saying the company’s upside potential is limited in the near-term due to its impending merger with TNT Express.
Take a look at some of Tuesday morning’s early movers:
Stocks eased off their best levels in the final minutes of trading Monday but still managed to eke out a small gain, following a sharp rally from the previous week.
The Street is enamored with the old "sell in May and go away" philosophy; everyone seems poised for a sell-off, or at least a consolidation. Never mind that many of those spouting these clichés have lost a ton keeping their short positions on for the last couple months: The economy is just not improving the way everyone keeps saying, they insist, and dammit I am going to be right — at some point.
U.S. stock index futures pointed to a weaker open on Monday as investors took a breather after strong gains last week.