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(Select another date to see market comments for that day.)
\r\n\t\t\t\t\t\t\t\t\tUpdated Each Business Day at Approximately 4:30 pm ET
\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tLittle change for the session but the major indices posted strong gains for the month. In economic news today, second quarter Gross Domestic Product rose 2.4 percent, its smallest increase in the last year. Business investments and exports were the biggest factors in the increase with consumer spending making a smaller contribution. The second quarter employment cost index rose 0.5 percent. The major indices posted their best monthly gains in a year with all three major US indices posting advances of approximately 7 percent each for the month.
The Dow edged a point lower to 10465. 3M led on the downside while Boeing was the upside leader. 3M subtracted 80 cents to $85.54 and Boeing added 92 cents to $68.14. The NASDAQ put on 3 points to 2254. The S&P 500 was a smidge higher to 1101. The Dow Utility Index gave up almost 2 points to 385 while the transports headed nearly 8 points higher to 4422. The small caps of the Russell 2000 were a fraction of a point higher to 650.
Volume totaled 1.1 billion shares on the New York Stock Exchange and 653 million shares were exchanged on the NASDAQ. Winners outdid losers by a 4 to 3 margin on the New York Stock Exchange while advancers held up against decliners by a 7 to 6 margin on the NASDAQ. Gold surged $6.50 to $1169 per ounce. US Treasury securities moved higher across the board. Closing yields were 0.14 percent for the 3-month bill, 1.59 percent for the 5 year-note, 2.90 percent for the 10 year note and 3.98 percent for the 30-ear bond. Have a good weekend!
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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\r\n\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tThe major indices recorded modest losses. Mostly favorable earnings data was muted by deflation talk from a Federal Reserve official. St. Louis Federal Reserve President James Bullard voiced concerns that a prolonged low interest rate environment could produce a Japan-like deflationary trap. Consumer staples stocks paced losses. In economic news, weekly jobless claims fell 11,000 to 457,000 and earnings reports were mostly upbeat. Exxon\\\'s profits surged 91 percent with earnings per share of $1.60 well ahead of street views of $1.46 per share. Still its stock fell 57 cents to $60.34.
The Dow lost 30 points to 10467. Procter & Gamble led a long list of decliners, falling $1.03 to $61.67. Chevron worked in the opposite direction, gaining 46 cents to $76.02. The NASDAQ shed 12 points to 2251. The S&P 500 lost 4 points to 1101. The Dow Utility Index fell 5 points to 387 while the transports were also off 5 points to 4415. The small caps of the Russell 2000 inched fractionally lower to 650.
Volume totaled more than a billion shares on the New York Stock Exchange and 698 million shares were exchanged on the NASDAQ. Winners were slightly more numerous than decliners on the New York Stock Exchange while decliners were ahead of advancers on the NASDAQ. Gold surged $5.50 to $1162.50 per ounce. US Treasury securities were little changed. Closing yields were 0.15 percent for the 3-month bill, 1.69 percent for the 5 year-note, 2.99 percent for the 10 year note and 4.07 percent for the 30-ear bond. Second quarter gross domestic product figures are set to be released at 8:30 a.m. tomorrow.
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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\r\n\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tThe major indices lost a little ground amid weaker than expected economic data and mostly upbeat earnings news. Healthcare sector stocks paced losses. June's durable goods orders fell 1 percent. Economists had expected a 1 percent increase. Sprint reported a pro-forma diluted loss of $0.15 per share versus consensus views for a $0.19 per share loss.
The Dow surrendered 39 points to 10497. Boeing surrendered $1.30 to $67.32. Its revenue and net income fell. However, the jet manufacturer reaffirmed its 2010 outlook. The NASDAQ dropped 39 points to 10497. The S&P 500 shed 7 points to 1106. The Dow Utility Index lost 2 points to 393 while the transports shed 3 points to 4420. The small caps of the Russell 2000 descended 11 points to 650.
Volume totaled more than a billion shares on the New York Stock Exchange and 558 million shares were exchanged on the NASDAQ. Losers ousted winners by about a 2 to 1 margin on the New York Stock Exchange while decliners were more than twice as plentiful as advancers on the NASDAQ. Gold unwound $11 to $1157 per ounce. US Treasury securities again higher among mid and long-dated issues and were unchanged at the short end of the curve. Closing yields were 0.15 percent for the 3-month bill, 1.71 percent for the 5 year-note, 3.01 percent for the 10 year note and 4.08 percent for the 30-ear bond. Weekly jobless claims and another batch of earnings reports are due out tomorrow.
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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\r\n\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tDuPont leads the Dow higher while the other major indices gave up some ground. Consumer confidence data tempered mostly upbeat earnings results. Consumer confidence fell to a lower than expected 50.4 in June, its lowest level since February. As such, consumer stocks were downside leaders today. DuPont reported results which easily exceeded expectations and also raised its full year guidance.
The Dow gained 12 points to 10537. DuPont surged $1.39 to $40.38 and Hewlett Packard climbed $1 to $47.57. The NASDAQ dipped 8 points to 2288. The S&P 500 shed a point to 1113. The Dow Utility Index gained 6 points to 395 while the transports dropped 58 points to 4423. The small caps of the Russell 2000 shed 3 points to 662.
Volume totaled more than a billion shares on the New York Stock Exchange and 589 million shares were exchanged on the NASDAQ. Winners succumbed to losers by a small margin on both the New York Stock Exchange and NASDAQ. Gold dropped $15.50 to $1168 per ounce. US Treasury securities again moved lower among mid and long-dated issues and were unchanged at the short end of the curve. Closing yields were 0.15 percent for the 3-month bill, 1.79 percent for the 5 year-note, 3.05 percent for the 10 year note and 4.08 percent for the 30-year bond. June's durable goods orders and July's beige book report are due out tomorrow.
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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\r\n\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tStocks maintained an upward bias. Today\\\'s gains put the Dow and S&P 500 into positive terrain for the year. Industrial and financial sector stocks paced gains. FedEx raised its fiscal first quarter and full year guidance. In economic news, June\\\'s new home sales rose to a higher than expected 330,000.
The Dow advanced 100 points to 10525. 3M and Chevron fronted gains, rising 87 and 91 cents, respectively. Wal-Mart lagged with a 67 cent loss to $51. The NASDAQ put on almost 27 points to 2296. The S&P 500 marched 12 points higher to 1115. The Dow Utility Index edged 2 points higher to 388 while the transports jumped 112 points to 4482. The small caps of the Russell 2000 pushed 14 points higher to 665.
Volume totaled more than a billion shares on the New York Stock Exchange and 598 million shares were exchanged on the NASDAQ. There were about five stocks higher for every one lower on the New York Stock Exchange. Advancers outdid decliners by about a 3 to 1 margin on the NASDAQ. Gold shed $7 to $1183.50 per ounce. US Treasury securities moved lower among mid and long-dated issues and were unchanged at the short end of the curve. Closing yields were 0.18 percent for the 3-month bill, 1.74 percent for the 5 year-note, 3.00 percent for the 10 year note and 4.03 percent for the 30-year bond. July\\\'s consumer confidence and more earnings releases are due out tomorrow.
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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\r\n\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tStocks extend gains following earnings and European stress tests. Ford reported a second quarter profit increase to $2.6 billion, well ahead of street expectations. Additionally, the company sees strong demand for its products going forward. Honeywell's profits rose to $468 million or $0.60 per share, well ahead of expectations of $0.57 per share. General Electric raised its quarterly dividend by 20 percent and said it would resume its stock repurchase program this quarter. In foreign news, there were only 7 banks out of 91 European banks in need of capital infusions according to European stress tests. German Business sentiment index rose more than expected. Great Britain\\\'s gross domestic product rose by a stronger than expected 1.1 percent in the second quarter.
The Dow rallied 102 points higher to 10424. 3M and United Technologies fronted gains, raising $1.42 and $1.37, respectively. The NASDAQ put on 23 points to 2269. The S&P 500 notched nearly a 9 point gain to 1102. The Dow Utility Index was little changed at 386 while the transports climbed 66 points to 4369. The small caps of the Russell 2000 climbed 15 points to 650.
Volume totaled 1.1 billion shares on the New York Stock Exchange and 698 million shares were exchanged on the NASDAQ. There were about four times as many winners compared to losers on the New York Stock Exchange. Advancers ousted decliners by nearly a 4 to 1 margin on the NASDAQ. Gold dipped $9 to $1190.50 per ounce. US Treasury securities were mostly lower. Closing yields were 0.15 percent for the 3-month bill, 1.72 percent for the 5 year-note, 2.99 percent for the 10 year note and 4.01 percent for the 30-year bond. Another busy week of earnings releases is in store next week. Have a good weekend!
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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\r\n\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tInvestors seemed to be in the mood for a good old fashioned rally on Thursday, buoyed by some positive earnings releases and economic data from overseas. In the euro zone industrial orders rose 3.8 percent in May from April, and orders were 22.7 percent higher versus orders in May 2009; both numbers bested economists' expectations. 3M, Caterpillar and AT&T were three Dow components that beat the street with their respective second quarters. Sales at MMM climbed 18 percent, from $5.72 billion to $6.73 billion, and management increased its full year EPS guidance. AT&T benefitted from cost reductions and strong wireless growth, and profits rose 25 percent. CAT reported 2Q EPS of $1.09 or $707 million, a 91 percent increase over the 2Q09 results. The company also raised its FY10 forecast.
Shares of Xerox Corp. gained over 7 percent after reporting second quarter net income of $0.16 per share or $227 million, up 62 percent from the prior year period. Tech stocks were assisted by Qualcomm's 4 percent rise in 2Q earnings. At eBay, the company's improvements and growth in its marketplace business and PayPal division drove better than anticipated quarterly results 26 percent higher than in the year-ago period. Shares of Microsoft, Amazon.com and SanDisk all trended higher ahead of their earnings releases. In other news, to expand their customer financing services General Motors will acquire AmeriCredit for $3.5 billion in cash. Shares of ACF ended the day 21 percent higher.
The Dow Jones Industrial Average jumped 201.8 points to 10322.3. The NASDAQ added 58.56 points to 2245.89, while the S&P 500 rose 24.08 points to 1093.67. Dow Jones Utility Index gained 6.01 points to 386.77 and the Dow Transports soared 160.15 points to 4303.25. The Russell 2000 small caps ended the session at 635.48, up 22.84 points. Nearly 1.2 billion shares were traded on the New York Stock Exchange and the volume on the NASDAQ was 652 million. Advancers bested decliners on the NYSE 13 to 2 and on the NASDAQ 21 to 4.
General market enthusiasm helped Gold for August delivery close at $1195.60 per ounce, up $3.80. Oil for September delivery closed at its highest price in almost a month: $79.30 per barrel, adding 3.6 percent. The dollar lost ground versus major currencies and the US Dollar Index ended the session at 82.581. Recently Treasury yields were: 0.15 percent for the 90-day bill, 1.67 percent for the 5-year note, 2.93 percent for the 10-year note and 3.95 percent for the 30-year bond. -- Customers with questions concerning this Afternoon Comment are advised to contact Amanda Collier at 1-800-444-1854 x8875 or (502) 588-8400 x8875. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416. --
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\r\n\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tStocks turned lower amid a hawkish testimony from Ben Bernanke. Bernanke said the economic outlook was unusually uncertain and no further stimulus was imminent. Bernanke also said the central bank will need to tighten its monetary policy at some point to prevent inflation. The remarks caused investors to sell off stocks in late afternoon dealings. Earlier in the session the glass looked half full as earnings reports were mostly favorable. Morgan Stanley said revenues surged allowing it to swing to a second quarter profit. Apple forecasted earnings exceeded consensus views amid an increase in Mac sales. United Technologies net profits climbed 14 percent and Coca Cola reported a 16 percent increase in profits. Freeport-McMoRan Copper & Gold said its top and bottom line results rose from the same period one year earlier.
The Dow gave up 109 points. Chevron, Johnson & Johnson and JP Morgan were the weakest components within the Dow. The NASDAQ retreated 35 points to 2187. The S&P 500 receded 13 points to 1069. The Dow Utility Index shed 5 points to 380 while the transports lost 59 points to 4143. The small caps of the Russell 2000 unwound 11 points to 612.
Volume totaled 1.2 billion shares on the New York Stock Exchange and 663 million shares were exchanged on the NASDAQ. There were about twice as many decliners versus advancers on the New York Stock Exchange. Losers topped winners by about a 3 to 1 margin on the NASDAQ. Gold rallied $8.50 to $1191.50. US Treasury securities moved higher across the board. Closing yields were 0.15 percent for the 3-month bill, 1.63 percent for the 5 year-note, 2.86 percent for the 10 year note and 3.87 percent for the 30-year bond. Weekly jobless claims, June\\\'s leading indicators and existing home sales are due tomorrow along with another batch of earnings reports.
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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\r\n\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tStocks pulled higher in afternoon dealings. Material stocks led the reversal. A rise in oil prices also inspired energy shares higher. Earlier in the day some earnings and revenue shortfalls pressured stocks. Goldman Sachs reported an 82 percent decline in earnings amid fines paid to settle its case with the SEC. International Business Machines reported a 9 percent profit gain for the quarter but top line results were lower than expected. Texas Instruments shares declined 3 percent as its revenues and earnings were below expectations. In economic news, housing starts fell 5 percent in June to an 8-month low. However, June's building permits rose 2.1 percent.
The Dow gained 75 points to 10230. Boeing and American Express were star performers for the index. Boeing tacked on another 70 cents to $63.88 and AmEx added 48 cents to $42.06. International Business Machines lagged with a $3.24 loss to $126.55. The NASDAQ improved 24 points to 2222. The S&P 500 marched 12 points higher to 1083. The Dow Utility Index gained 3 points to 386 while the transports ascended 71 points to 4202. The small caps of the Russell 2000 put on 11 points to 624.
Volume totaled 1.1 billion shares on the New York Stock Exchange and 586 million shares were exchanged on the NASDAQ. There were about five times as many winners versus losers on the New York Stock Exchange. Advancers more than doubled decliners on the NASDAQ. Gold climbed 2 to $1183. US Treasury securities were mostly higher. Closing yields were 0.15 percent for the 3-month bill, 1.68 percent for the 5 year-note, 2.95 percent for the 10 year note and 3.98 percent for the 30-year bond. There are no major economic releases on tap so earnings releases will be the primary focus.
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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