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U.S. stocks fall; Dow in triple-digit loss
Coach jumps, Target, Motorola Solutions fall
NEW YORK (MarketWatch) — U.S. stocks closed sharply lower on Tuesday following reports that Russia is building up its military presence on the border with Ukraine.
Fears that the Federal Reserve might raise interest rates sooner than expected in the wake of fresh signs that the economy is gaining strength lingered in the background.
The S&P 500 (SNC:SPX) closed 18.78 points, or 1%, lower at 1,920.21. The Dow Jones Industrial Average (DJI:DJIA) dropped 139.81 points, or 0.8%, to 16,429.47. The Nasdaq Composite (NASDAQ:COMP) fell 31.05 points, or 0.7%, to 4,352.84.
The Financial Times reported that Russia has dramatically increased the number of troops and vehicles positioned on its eastern border with Ukraine during the past few days, reviving fears among investors that the conflict could escalate. Separately, Russian President Vladimir Putin ordered his government to prepare retaliatory measures against U.S. and European economic sanctions imposed on Russia.
Nichoalas Colas, market strategists at ConvergEx Group, a global brokerage company based in New York, said it was eerie to see investors start worrying about a possible full-blown war between Ukraine and Russia on the 100th anniversary of the start of the World War I.
“Over the past several months markets had shrugged off such a possibility and discounted a potential for a real war. The news that Russia might have its troops inside Ukraine instead of waging a proxy war caught a lot of investors flatfooted,” Colas said.
“If this is the beginning of a correction, we expect it to be a slow-motion one. People are just not making sudden moves,” he added. http://www.marketwatch.com/story/us-markets-futures-wait-for-cues-from-fresh-data-2014-08-05
Gold edges lower as dollar strengthens on ISM data
Gold edged lower on Tuesday as the dollar rallied after a report showed growth in the U.S. services sector hit a 8-1/2-year high in July, helped by growth in business activity.
The Institute for Supply Management said its services index rose to 58.7 last month, the highest since December 2005, from 56.0 in June. The reading blew past economists' forecasts for 56.3, according to a Reuters survey.
Spot gold was 0.3 percent lower at $1,285 an ounce after slipping 0.4 percent in the previous session. U.S. gold was around $1,287 an ounce, down 0.2 percent on the day. http://www.cnbc.com/id/101893421
U.S. stocks fall as strong data spark more Fed fears
Whole Foods, Coach jump
NEW YORK (MarketWatch) — U.S. stocks lost ground on Tuesday, as investors fretted that the Federal Reserve might raise interest rates sooner than expected in the wake of fresh signs that the economy is gaining strength. http://www.marketwatch.com/story/us-markets-futures-wait-for-cues-from-fresh-data-2014-08-05
in with starter looks good
Home prices rise 1% in June; 12 states hit record highs
As spring came to a close, U.S. home prices rose 1% in June, the slowest pace in four months, according to data released Tuesday.
Longer-term trends also showed a deceleration: Annual price growth in June reached 7.5%, the slowest pace since October 2012. That 7.5% gain is down sharply from annual growth of 11.4% in June 2013.
“This reversion to normality that we are finally experiencing is expected to continue across the country and should further alleviate concern over diminishing affordability and the risk of another asset bubble,” said Mark Fleming, chief economist at CoreLogic, an Irvine, Calif.-based analysis firm.
More sellers, lured by higher prices, have been putting their homes on the market, cutting upward pressure on prices. At the same time, a more expensive market has curbed some demand, which will also limit further price growth.
Looking forward, CoreLogic expects prices to slow even further, with annual growth hitting 5.7% in June 2015, which would be the slowest pace since September 2012.
After the bubble burst, prices crashed, tumbling at double-digit annual rates throughout 2008 and much of 2009. By early 2012, U.S. home prices started consistently picking up on a year-over-year basis, and have been doing so since.
However, including June, U.S. home prices remain about 12.9% below a 2006 peak.
While home prices in the U.S. as a whole remain below the bubble peak, June’s climb was enough to push 12 states to hit record highs (the price data go back to 1976): Alaska, Colorado, Iowa, Louisiana, Nebraska, North Dakota, Oklahoma, South Dakota, Tennessee, Texas, Vermont and Wyoming. Firm job growth and other factors are supporting home prices in states such as North Dakota and Texas. And certain markets avoided the bubble’s price rollercoaster.http://blogs.marketwatch.com/capitolreport/2014/08/05/home-prices-rise-1-in-june-12-states-hit-records-highs/?mod=MW_home_latest_news
Early movers: COH, CVS, ADM, AIG, TM, SHLD & more
http://www.cnbc.com/id/101894619
U.S. markets: Futures wait for cues from fresh data
China’s PMI takes a bite out of Japanese stocks
MADRID (MarketWatch) — Stock futures were largely flat on Tuesday, as investors waited to see if expected robust service-sector and factory-order data will provide momentum for a winning session for Wall Street.
A downbeat set of data out of China could take some steam out of investors’ sails, though.
Meanwhile, a few companies are set to report ahead of the opening bell: Archer Daniels Midland Co., CVS Caremark Corp. and others.
The Institute for Supply Management’s nonmanufacturing index, due at 10 a.m. Eastern Time, is projected to climb to 56.5% in July, from 56% in June. That would indicate continued growth in the service sector, though the index’s readings on hiring intentions and employment may get more attention.
At the same time, factory orders from June will be released. They are expected to rebound from a 0.5% drop in May to a 0.6% gain. http://www.marketwatch.com/story/us-markets-futures-wait-for-cues-from-fresh-data-2014-08-05?dist=beforebell
After-hours buzz: AIG, Avis, Tenet Healthcare & more
http://www.cnbc.com/id/101893169
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U.S. stocks rally; Dow snaps 4-session losing streak
UBS strategists: Now isn’t the time to bail out of stocks
NEW YORK (MarketWatch) — U.S. stocks rallied on Monday and recouped some of the heavy losses from last week’s rout, but investors remained cautious over the timing of the Federal Reserve’s interest-rate hikes.
The S&P 500 (SNC:SPX) closed 14 points, or 0.8%, higher at 1,940.60, its first gain in three sessions. The Dow Jones Industrial Average (DJI:DJIA) added as much as 102 points during the session, before finished the day 81 points, or 0.5%, higher at 16,574.00 and snapping a four-day losing streak. The Nasdaq Composite (NASDAQ:COMP) rose 34 points, or 0.8% to 4,386.24.
The data calendar was empty for Monday and few companies reported earnings. Instead, investors focused on last week’s performance, which included the biggest weekly drop in two years for the S&P 500 (SNC:SPX) . While Friday’s jobs report wasn’t as strong as expected, the data over the week provided more evidence that the economy continues to gain momentum, which in turn makes it more likely the Federal Reserve could raise interest rates sooner than expected. http://www.marketwatch.com/story/us-stocks-futures-inch-up-after-disastrous-week-2014-08-04
U.S. stocks: Futures inch up after disastrous week
UBS strategists: Now isn’t the time to bail out of stocks
MADRID (MarketWatch) — U.S. stock futures indicated a slightly firmer start for Wall Street on Monday as investors looked to claw back some territory after the worst weekly finish for the S&P 500 in two years.
Some inspiration, though not much, was coming from news of the rescue for a troubled Portugal bank.
Futures for the Dow Jones Industrial Average (CBE:DJU4) rose 38 points to 16,454, while those for the S&P 500 index (GLC:SPU4) rose 5.6 points to 1,924.20. Futures for the Nasdaq-100 index (GLC:NDU4) rose 5.7 points to 3,881.25.
The data calendar is empty for Monday, while the earnings calendar is also bare-bones. One small inspiration was news of a bailout plan for Portugal’s Banco Espirito de Santo SA (ELI:PT:BES). http://www.marketwatch.com/story/us-stocks-futures-inch-up-after-disastrous-week-2014-08-04?dist=beforebell
Gold hovers as traders await equity cues
But some say recent rallies are a reason to sell
LOS ANGELES (MarketWatch) — Gold hovered in flat territory on Monday, with investors apparently not too fearful that weakness in equities will spill over into the new week. http://www.marketwatch.com/story/gold-hovers-as-traders-await-equity-cues-2014-08-04
After tough week, bulls spot a buying opportunity
The bulls are looking for the market's mild 2014 rally to resume in the week ahead, as investors digest data that suggest the economy is growing but not quickly enough to turn the Fed more hawkish. http://www.cnbc.com/id/101885309
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Dow falls Friday, suffers largest weekly loss in 6 months
U.S. adds 209,000 jobs in July; unemployment rate at 6.2%
NEW YORK (MarketWatch) — U.S. stocks on Friday built on the week’s losses, leaving the Dow Jones Industrial Average with its biggest weekly drop in more than six months.
Friday’s flurry of economic data only briefly lifted the stock market. Instead, Thursday’s selloff, sparked in part by signs of rising wages, continued as investors remained fearful that the Federal Reserve might raise interest rates sooner than expected.
The Dow (DJI:DJIA) dropped 69.93 points, or 0.4%, to close at 16,493.37 on Friday, though it finished off its session low. The blue-chip gauge recorded a weekly tumble of 2.8%, its biggest decline since the week ended Jan. 24.
The S&P 500 (SNC:SPX) fell 5.52 points, or 0.3% to end at 1,925.15. The benchmark endured a weekly loss of 2.7%.
The tech-heavy Nasdaq Composite (NASDAQ:COMP) was down 17.13 points, or 0.4%, at 4,352.64, leaving it down 2.2% for the week.
Friday’s generally positive economic data keeps pressure on the Federal Reserve to reduce its stimulus measures that have helped stock prices, said .Colin Cieszynski, chief market strategist at CMC Markets.
“Good news for the economy is bad news for the market because it means they’ll have to take way the liquidity that’s boosted stocks eventually,” Cieszynski told MarketWatch. http://www.marketwatch.com/story/us-stocks-futures-slide-with-july-jobs-on-deck-2014-08-01
Dow falls further, faces largest weekly loss in 6 months
U.S. adds 209,000 jobs in July; unemployment rate at 6.2%
NEW YORK (MarketWatch) — U.S. stocks on Friday added to the prior session’s losses, keeping the Dow industrials on track for their biggest weekly drop in more than six months.
Friday’s flurry of economic data only briefly lifted the stock market. Instead, Thursday’s selloff, sparked in part by signs of rising wages, continued as investors remained fearful that the Federal Reserve might raise interest rates sooner than expected. http://www.marketwatch.com/story/us-stocks-futures-slide-with-july-jobs-on-deck-2014-08-01
3 market warning signs predict 20% stock tumble
Insight: When these indicators flash together, it’s time to sell
Over the past 45 years, the stock market has lost more than 20% each time three warning signs flashed simultaneously.
After a selloff this past week dragged the Dow Jones Industrial Average (DJI:DJIA) into negative territory for the year, it’s worth noting that all three are flashing today.
The signals are excessive levels of bullish enthusiasm; significant overvaluation, based on measures like price/earnings ratios; and extreme divergences in the performances of different market sectors.
They have gone off in unison six times since 1970, according to Hayes Martin, president of Market Extremes , an investment consulting firm in New York whose research focus is major market turning points. http://www.marketwatch.com/story/3-market-warning-signs-predict-20-stock-tumble-2014-08-01
LinkedIn surges on results; GoPro loses steam
Berkshire Hathaway reports after closing bell; Mobileye prices IPO
SAN FRANCISCO (MarketWatch) — These are the stocks making notable moves in the stock market on Friday: http://www.marketwatch.com/story/linkedin-tesla-gopro-are-stocks-to-watch-friday-2014-08-01
Gold extends bounce off 6-week low after jobs data
NEW YORK (MarketWatch) — Gold futures extended a modest bounce off a six-week low, rebounding as the U.S. dollar lost ground after data showed the U.S. economy added fewer jobs than expected in July. http://www.marketwatch.com/story/gold-extends-bounce-off-6-week-low-after-jobs-data-2014-08-01?link=MW_home_latest_news
Early movers: BYI, TSLA, HLT, LKND, LVS, PG & more
http://www.cnbc.com/id/101886808
U.S. gains 209,000 jobs in July; unemployment 6.2%
WASHINGTON (MarketWatch) - The U.S. economy added 209,000 jobs in July, marking the sixth straight month of 200,000-plus gains for the first time since 1997. The unemployment rate edged up to 6.2% from 6.1%, meanwhile, as more people entered the labor force in search of work, the government reported Friday. Economists surveyed by MarketWatch had expected an increase of 235,000 nonfarm jobs. In July, every major industry added jobs. Professional services hired 47,000 workers, construction companies added 22,000 positions and manufacturers boosted payrolls by 28,000. Average hourly wages, however, only rose 1 cent to $24.45, the smallest gain in three months. Over the past year hourly wages have climbed 2%, the same as in the prior month. The average workweek was unchanged at 34.5 hours. The labor-force participation rate climbed a tick to 62.9%, the first increase in four months. Employment gains for June and May were revised up by a combined 15,000, the Labor Department said. The government said the 298,000 new jobs were created in June, up from a preliminary 288,000. May's gain was revised to 229,000 from 224,000. So far in 2014 the economy has gained an average of230,000 jobs a month, up 19% from the 2013 pace of 194,000.
U.S. stocks: Futures slide with July jobs on deck
LONDON (MarketWatch) — U.S. stock futures dropped Friday, with investors remaining cautious ahead of the widely anticipated July jobs report and after a selloff in the prior session gave Wall Street its worst day in months.
While the nonfarm-payrolls report is the marquee event Friday, investors will also get comments from two Federal Reserve members, as well as quarterly results from Chevron and Procter & Gamble.
Futures for the Dow Jones Industrial Average (CBE:DJU4) dropped 101 points, or 0.6%, to 16,394, while those for the S&P 500 index (GLC:SPU4) fell 12 points, or 0.6%, to 1,912. Futures for the Nasdaq 100 index (GLC:NDU4) declined 26 points, or 0.7%, to 3,858.
Fresh in the mind of investors is Thursday’s selloff that left the S&P 500 (SNC:SPX) down 2%, and the Dow Jones Industrial Average (DJI:DJIA) down 317 points. The Dow is now lower for the year.
Triggers for the selloff included a quarterly rise in the U.S. employment cost index, on a larger-than-expected increase in wages. Higher wages could push up inflation and prompt the Federal Reserve to raise interest rates.
The rise in the ECI reading drove “a general lack of risk appetite around the market,” said Richard Perry, market analyst at Hantec Markets, in emailed comments.
The Labor Department is due to release its July jobs report at 8:30 a.m. Eastern Time. Fed Chairwoman Janet Yellen “will be watching for wage growth in the payrolls report today,” said Perry, noting the general estimate is for a rise of 0.2%. “If this comes in higher, then it could be the key takeaway from the report and cause more selling,” said Perry.
Economists polled by MarketWatch forecast a 235,000 increase in net employment and a decline in the jobless rate to 6%, from 6.1%. http://www.marketwatch.com/story/us-stocks-futures-slide-with-july-jobs-on-deck-2014-08-01?dist=beforebell
LinkedIn, Tesla, GoPro are stocks to watch Friday
http://www.marketwatch.com/story/linkedin-tesla-gopro-are-stocks-to-watch-friday-2014-08-01?dist=beforebell
After-hours buzz: Expedia, GoPro & more
http://www.cnbc.com/id/101884954
Dow industrials tumble 317 points in worst day since Feb. 3
S&P 500 has steepest percentage drop since April
NEW YORK (MarketWatch) — The Dow Jones Industrial Average skidded more than 300 points Thursday in its biggest one-day drop in six months, as a combination of earnings, economic news and a default by Argentina triggered a broad selloff.
Investors weighed the implications of robust economic growth and signs of rising wage inflation on Federal Reserve policy ahead of the key monthly jobs report on Friday.
The day’s losses mean both the S&P 500 and Dow industrials suffered their first monthly decline since January.
The S&P 500 (SNC:SPX) fell 39.40 points, or 2%, to 1,930.67, its steepest one-day percentage drop since April, and lost 1.5% over July. All 10 main sectors dropped more than 1.5% on Thursday, as the energy and telecom sector stocks lead losses.
The Dow Jones Industrial Average (DJI:DJIA) dropped 316.99 points, or 1.9%, to 16,563.37, its worst showing on both counts since Feb. 3. It finished the month 1.6% lower and its performance for 2014 turned negative.
The Nasdaq Composite (NASDAQ:COMP) lost 93.13 points, or 2.1%, to 4,369.77 and fell 0.7% over July.
The implied volatility on the S&P 500, as measured by the CBOE Vix index and dubbed “Wall Street’s fear gauge”, jumped 27% to 17.
Kim Caughey Forrest, investment analyst at Fort Pitt Capital, said there was no single reason that should warrant such a selloff, making the drop more difficult to explain. “At the same time, we were surprised to see markets go up in light of all of the uncertainty and geopolitical tensions. Perhaps, investors finally caught up with some of the news,” Forrest added. http://www.marketwatch.com/story/us-stocks-futures-drop-on-last-day-of-july-trade-2014-07-31
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This could be the Dow’s first 200-point drop in nearly 4 months
NEW YORK (MarketWatch) — U.S. stocks are tumbling on this last day of July, putting the S&P 500 and Dow industrials on pace for their first down month since January.
How bad is it? Here are a few key milestones, based on intraday data:
On pace for biggest one-day drop since April 10: The S&P 500 and Dow are both on track for their largest single-day tumble since April 10. The S&P is down 1.5% or 30 points to 1,941, while on April 10 the benchmark fell 2.1% or 39 points. The Dow is down 1.3% or 223 points to 16,657, and the blue-chip barometer slid 1.6% or 267 points on April 10.
Erasing July’s gains and more: The S&P 500 has fallen to levels last seen in mid-June, while the Dow has retreated to levels last seen about two months ago.
Breaking a closely watched chart level: The S&P 500 has sliced through its 50-day moving average, as shown in the adjacent chart. The benchmark last closed under that level on April 15. The Dow also has undercut its 50-day line, and it hasn’t finished under that level since May 20. Read more: What breaking the 50-day moving average really means
Snapping a 5-month win streak: With Thursday’s selloff, the S&P 500 and Dow have turned negative for July after showing a small gain as of Wednesday’s close. The two large-cap indexes haven’t had a down month since January, so they’ve been on a five-month winning streak.
But plenty of market watchers on Thursday have warned investors against overreacting.
The S&P 500 (SNC:SPX) (NAR:SPY) is still up 5% year to date and is just 2.4% off its July 24 record close near 1,988. Meanwhile, the Dow (DJI:DJIA) (NAR:DIA) is clinging to a 0.5% gain for 2014 and stands 2.8% off its July 16 record close at 17,138.
going to take starter in this, looks like potential coming in