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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\tMuted session concludes with the major indices slightly higher. Technology and financial sectors paced gains. Citigroup's trust preferred offering was well received, leading some to believe that government ownership stakes in it and American International Group could be unwound sooner than expected. Additionally, reports that Barclays Capital could be in the market to purchase a retail bank pushed stocks of regional banks higher. Google said it and the Chinese government were close to reaching an agreement on censorship and monitoring of its sites in that country. In other news, Abbott Laboratories is purchasing Facet Biotech for $722 million or $27 per share.
The Dow added 3 points to 10567. Boeing rallied $2.22 to $70.01 while Travelers fell 68 cents to $52.89. The NASDAQ improved 18 points to 2358 on the 10-year anniversary of its all time high. Since the dotcom bust the index is down some 55 percent. The S&P 500 put on 5 points to 1145. The Dow Utility Index inched a point higher to 377 and the Dow Transports gained 26 points to 4295. The small caps of the Russell 2000 moved 5 points higher to 1145.
Volume totaled 1.1 million shares on the New York Stock Exchange and 699 million shares were exchanged on the NASDAQ. Winners ousted losers by a 2 to 1 margin on the New York Stock Exchange. There were almost twice as many advancers versus decliners on the NASDAQ. Gold headed $4.75 higher to $1120 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 0.15 percent for the 3-month bill, 2.38 percent for the 5 year-note, 3.72 percent for the 10 year note and 4.69 percent for the 30-year bond. Weekly jobless claims and January's trade balance 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\tThe major indices edged higher on the one-year anniversary of the bear market low. The S&P 500 has risen nearly 70 percent since then. The NASDAQ hit a new 52-week high today as well. The major indices closed off of their best levels of the session as investors took profits in material sector stocks. Telecom stocks led on the upside for the second consecutive session. In company specific news, AT&T\\\'s test of a new router from Cisco increased the speed of Internet traffic 10,000 times the average broadband connection. Cisco shares were unchanged after moving higher in the previous session. Citigroup shares surged 7 percent higher after CreditSights made some bullish comments today. A mutual fund manager also noted he had purchased the stock in a recent Fortune magazine story.
The Dow gained 11 points to 10564. 3M and United Technologies contributed the most to the gains. Untied Technologies climbed $1.02 to $71.78 and 3M advanced 68 cents to $81.99. International Business Machines was again the downside leader, falling 86 cents to $125.55. The NASDAQ put on 8 points to 2340. The S&P 500 pushed 2 points higher to 1140. The Dow Utility Index shed a point to 376 and the Dow Transports advanced 55 points to 4269. The small caps of the Russell 2000 moved 2 points higher to 669.
Volume totaled 1.1 million shares on the New York Stock Exchange and 710 million shares were exchanged on the NASDAQ. Winners outdid losers by a 17 to 13 margin on the New York Stock Exchange. There were slightly more advancers than decliners on the NASDAQ. Gold retreated $10 to $1115.75 per ounce. US Treasury securities were mostly unchanged. Closing yields were 0.15 percent for the 3-month bill, 2.34 percent for the 5 year-note, 3.70 percent for the 10 year note and 4.68 percent for the 30-year bond. January\\\'s wholesale inventories 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 closed mixed with the S&P 500 taking a breathier after six straight sessions of gains. News flow was minimal though American International Group said it is selling its second largest foreign life insurance business to Metlife for $15.5 billion in cash and stock. It was the second large deal AIG has struck in as many weeks. The news flow abroad was a bit more robust with China's central bank head noting the country will change its policies on currency over time. France's President spoke about being ready to assist Greece while Germany's Finance Minister discussed the potential for a European Monetary Fund.
The Dow unwound 13 points to 10552. Boeing and International Business Machines led the index lower with losses of 69 and 84 cents, respectively. Cisco and McDonald's partially offset with gains of 92 cents and $1.45, respectively. The NASDAQ tacked on nearly 6 points to 2332. The S&P 500 inched fractionally lower to 1138. The Dow Utility Index edged a fraction of a point lower to 377 and the Dow Transports posted an 18 point gain to 4214. The small caps of the Russell 2000 put on a point to 667.
Volume was weak with 906 million shares trading hands on the New York Stock Exchange and 596 million shares were exchanged on the NASDAQ. Winners ousted losers by a 4 to 3 margin on the New York Stock Exchange. There were 7 stocks higher for every 6 lower on the NASDAQ. Gold receded $9.25 to $1125.75 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 0.15 percent for the 3-month bill, 2.36 percent for the 5 year-note, 3.71 percent for the 10 year note and 4.68 percent for the 30-year bond. There are no major economic releases scheduled for 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 posted their best daily gain in two weeks amid better then expected employment data. Non-farm payrolls fell by a lower than expected 36,000. The unemployment rate remained at 9.7 percent. Consumer credit unexpectedly rose in January, prompting bank stocks to move higher. Global news flow was robust with Greece approving a $6.52 billion austerity package and its Prime Minister visiting European nations to request support. Additionally, the Bank of Japan is considering easing its monetary policy to protect against deflation.
The Dow improved 122 points to 10566. Boeing and 3M posted gains of $2.38 and $1.42, respectively. Microsoft and Verizon were two of the few components moving lower. They each fell 4 cents. The NASDAQ rallied 34 points to 2326. The S&P 500 climbed 15 points to 1138. The Dow Utility Index headed almost 4 points higher to 378 and the Dow Transports recorded a 35 point gain to 4195. The small caps of the Russell 2000 rallied13 points to 666.
Volume totaled more than a billion shares on the New York Stock Exchange and 656 million shares were exchanged on the NASDAQ. Winners bested losers by a 5 to 1 margin on the New York Stock Exchange. There were 4 stocks higher for every 1 lower on the NASDAQ. Gold inched 50 cents lower to $1135 per ounce. US Treasury securities moved lower across the board. Closing yields were 0.15 percent for the 3-month bill, 2.35 percent for the 5 year-note, 3.68 percent for the 10 year note and 4.64 percent for the 30-year 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\tUpbeat retail sales results for February and an improvement in weekly jobless claims inspire investors. Today's advance marked the fifth consecutive positive close for the S&P 500 and puts the Dow back into positive terrain for the year. Weekly jobless claims fell by a larger than expected 29,000 to 469,000. Fourth quarter productivity rose by a higher than expected 6.9 percent. Dilliard's, Gap, Macy's and American Eagle Outfitters were among the retailers whose February same store sales exceeded analysts estimates.
The Dow pushed 47 points higher to 10444. Boeing and Disney paced gains with advances of $1.10 and 93 cents, respectively. International Business Machines maintained its status quo as a downside leader on the Dow. Big blue relinquished another 16 cents to $126.72. The NASDAQ lost 11 points to 2292. The S&P 500 tacked on 4 points to 1122. The Dow Utility Index inched fractionally higher to 374 and the Dow Transports traded 12 points higher to 4160. The small caps of the Russell 2000 managed a 3 point gain to 652.
Volume totaled 960 million shares on the New York Stock Exchange and 594 million shares were exchanged on the NASDAQ. Winners crushed losers by a 4 to 3 margin on the New York Stock Exchange. There were 3 advancers for every 2 decliners on the NASDAQ. Gold receded $2 to $1134 per ounce. US Treasury securities moved higher at the long end of the curve but were unchanged among shorter dated issues. Closing yields were 0.14 percent for the 3-month bill, 2.27 percent for the 5 year-note, 3.61 percent for the 10 year note and 4.56 percent for the 30-year bond. February's employment figures are highly anticipated tomorrow. January's consumer credit will also be released.
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 closed mixed amid optimistic economic data and a Presidential plea to pass health-care legislation. The healthcare sector moved lower following the renewed emphasis on health-care reform. Additionally, Pfizer said its Alzheimer drug Dimebon missed endpoint expectations. Merger news also remained in the forefront. Elliott & Associates offered $1 billion, or $5.75 per share, for Novell. Southwest Water is being acquired by an investment group which includes J.P. Morgan Asset Management and Water Asset Management. ADP said private sector jobs fell 20,000, its slowest rate of decline in two years. Greece instituted new rigorous deficit cutting measures which totaled $6.49 billion. Greece\\\'s bonds traded higher and the Euro moved higher against the dollar.
The Dow shed 9 points to 10396. International Business Machines again was a loss leader on the big board. It fell 54 cents to $126.88. Caterpillar and Coca-Cola offset with gains of 42 and 63 cents, respectively. The NASDAQ was fractionally lower to 2280. The S&P 500 inched fractionally higher to 1118. The Dow Utility Index edged slightly lower to 373 and the Dow Transports drifted a point lower to 4148. The small caps of the Russell 2000 put on nearly a point to 649.
Volume totaled 936 million shares on the New York Stock Exchange and 692 million shares were exchanged on the NASDAQ. Winners edged out losers on both the New York Stock Exchange and the NASDAQ. Gold marched $10 higher to $1136.50 per ounce. US Treasury securities were again little changed. Closing yields were 0.14 percent for the 3-month bill, 2.27 percent for the 5 year-note, 3.62 percent for the 10 year note and 4.58 percent for the 30-year bond. Weekly jobless claims, fourth quarter productivity and January\\\'s factory orders 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\tThe major indices eked out their third straight session of gains. A second day of merger news encouraged investors. CF Industries made a $47.70 per share stock and cash bid for Terra Industries which is higher than a previous all cash bid from Yara International. The New York Times reported that E.ON is reportedly considering selling certain US assets including LG&E and KU Energy. Duke Energy and American Electric Power are among the potential bidders. In other news, Qualcomm raised its dividend by 12 percent and increased its stock repurchase authorization.
The Dow gained 2 points to 10406. Boeing and Chevron were standouts on the upside. Boeing gained 44 cents to $64.44 and Chevron was up 51 cents to $73.32. Microsoft and International Business Machines offset with losses of $1.15 and 56 cents, respectively. The NASDAQ gained 7 points to 2280. S&P 500 put on 2 points to 1118. The Dow Utility Index edged almost 2 points higher to 373 and the Dow Transports subtracted 20 points to 4149. The small caps of the Russell 2000 notched a 5 point victory to 648.
Volume totaled more than a billion shares on the New York Stock Exchange and 785 million shares were exchanged on the NASDAQ. Winners outdid losers by more than a 2 to 1 margin on the New York Stock Exchange. There were twice as many winners versus losers on the NASDAQ. Gold jumped $12.50 to $1126.50 per ounce. US Treasury securities were little changed. Closing yields were 0.13 percent for the 3-month bill, 2.27 percent for the 5 year-note, 3.61 percent for the 10 year note and 4.57 percent for the 30-year bond. February's ADP private sector employment data and institute of supply management services 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 pull ahead on merger news and potential Greece bailout. Europe\\\'s Prudential is buying American International Group\\\'s Asian division for $35.5 billion in cash and stock. AIG shares surged 4 percent higher on the news. Europe\\\'s Merck KGaA is buying Millipore for $7.2 billion. Japan\\\'s Astellas Pharma bid $3.5 billion, or $52 per share, for OSI Pharmaceuticals. MSCI is acquiring RiskMetrics for $1.55 billion, or $21.75 per share in cash and stock. Copper futures rose amid supply concerns in the wake of an earthquake in Chile.
The Dow put on 78 points to 10403. Boeing and International Business Machines topped the leader board with gains of 84 cents and $1.41, respectively. The NASDAQ climbed 35 points to 2273. S&P 500 gained 4 points to 372. The Dow Utility Index added 4 points to 372 and the Dow Transports improved 34 points to 4169. The small caps of the Russell 2000 marched 14 points higher to 642.
Volume totaled 966 million shares on the New York Stock Exchange and 682 million shares were exchanged on the NASDAQ. Winners ousted losers by a 4 to 1 margin on the New York Stock Exchange. There was more than three times the number of winners versus losers on the NASDAQ. Gold rallied $5.75 to $1114 per ounce. US Treasury securities were little changed. Closing yields were 0.12 percent for the 3-month bill, 2.28 percent for the 5 year-note, 3.61 percent for the 10 year note and 4.56 percent for the 30-year bond. February\\\'s motor vehicle sales is the only economic release scheduled for 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 leading indices finish the day and month higher but post weekly losses. The Dow and S&P 500 were up approximately 2.5 percent in February and the NASDAQ surged more than 4 percent higher. Earnings results from American International Group and economic news unnerved investors earlier. American International Group said its fourth quarter losses narrowed from a year ago but were still higher than expected. Personal spending rose at a 1.7 percent annualized rate which was below expectations. Fourth quarter gross domestic product was adjusted up to 5.9 percent, its fastest pace since the third quarter of 2003. In foreign economic news, Great Britain\\\'s gross domestic product was revised higher to 0.3 percent and India announced lower than expected 6 percent economic growth but instituted some deficit cutting measures. In other earnings news, Fluor reduced its earnings forecast. Conversely, Gap raised its 2010 earnings forecast and said it would repurchase $1 billion of stock.
The Dow gained 4 points to 10325. JP Morgan gained $1.33 to $41.97. Consumer stocks\\\' Procter & Gamble and McDonald\\\'s lagged with losses of 42 and 53 cents, respectively. The NASDAQ rose 4 points to 2238. S&P 500 edged a little more than a point higher to 1104. The Dow Utility Index subtracted more than 2 points to 367 and the Dow Transports gained 20 points to 4134. The small caps of the Russell 2000 gave up almost 2 points to 628.
Volume totaled 1.2 billion shares on the New York Stock Exchange and 708 million shares were exchanged on the NASDAQ. Winners cruised past losers by a 3 to 2 margin on the New York Stock Exchange. There were 7 stocks lower for every 6 higher on the NASDAQ. Gold surged $13.75 to $1108 per ounce. US Treasury securities moved higher among mid and long-dated issues and were unchanged among shorter-dated issues. Closing yields were 0.12 percent for the 3-month bill, 2.30 percent for the 5 year-note, 3.61 percent for the 10 year note and 4.55 percent for the 30-year 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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