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U.S. Stocks Little Changed as Stimulus Optimism Fades

*from www.bloomberg.com, April 4, 2013 (To view original article click here.)

Take Away #1: U.S. stocks were little changed, paring an earlier rally, as optimism over central bank’s stimulus efforts faded.

Key Facts and Figures:

  • The S&P 500 gained 0.1% to 1,555.19 at 12:19 p.m. in New York, after rising as much as 0.6% earlier.
  • The Dow Jones Industrial Average gained 5.30 points, or less than 0.1%, to 14,555.65 today.
  • Trading among S&P 500 shares was in line with the 30-day average at this time of day.
  • Equities climbed earlier today after the Bank of Japan strengthened a stimulus program in which the central bank will buy 7 trillion yen ($73 billion) of bonds a month.
  • European Central Bank President Mario Draghi signaled the bank will keep monetary policy loose for an extended period.
  • Draghi also signaled that further is easing is possible if economic conditions deteriorate.

Take Away #2: Jobless claims rose by 28,000 to 385,000 in the week ended March 30.

Key Facts and Figures:

  • This is the highest since Nov. 24.
  • The media forecast of 47 economists surveyed by Bloomberg called for a drop to 353,000.
  • Before adjusting for seasonal variations, claims fell by almost 1,600.
  • The S&P 500 slid yesterday, after a report from ADP Research Institute showed companies boosted employment by 158,000 workers in March.
  • Economists’ forecasts called for a 200,000 gain.
  • Tomorrow’s non-farm payroll report from the Labor Department may show employers hired a net 195,000 workers for the month, according to the median forecast of 87 economists surveyed by Bloomberg.

Take Away #3: Investors will begin to focus on first-quarter earnings reports beginning next week.

Key Facts and Figures:

  • Alcoa Inc., scheduled on April 8, will be the first company in the Dow to report results.
  • Profits among S&P 500 companies are forecast to decline 1.9% for the period, for the first retreat since 2009.
  • In January, analysts forecast earnings growth of 1.2%.
  • Profit expanded by 8% in the fourth quarter of 2012.

Take Away #4: The VIX increased but remains down for the year.

Key Facts and Figures:

  • The Chicago Board Options Exchange Volatility Index increased 3.9% to 14.77 today.
  • The VIX jumped 11% yesterday.
  • The VIX is down 18% for the year.

Take Away #4: Utilities and phone companies advanced the most among 10 groups in the S&P 500, while Technology and energy declined.

Key Facts and Figures:

  • Utilities and phone companies rose the most increasing at least 0.7%.
  • Technology and energy shares slipped more than 0.4%.

*To view original article from www.bloomberg.com click here.

Filed in: Latest, Markets

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