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Top OTC % Gainers 7/16 close:
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Time Warner, Viacom, HCA jump; Yahoo, Fox fall
Noranda jumps as Larry Robbins talks up the stock
http://www.marketwatch.com/story/yahoo-intel-csx-among-stocks-to-watch-2014-07-15
Home builders are optimistic for first time in six months
WASHINGTON (MarketWatch) — Home builders turned optimistic this month, with a gauge of their confidence hitting the highest level in half a year, led by brighter views on upcoming and present sales of single-family homes, according to data released Wednesday.
The overall builder housing-market index rose four points to 53 in July, the National Association of Home Builders /Wells Fargo reported. Readings above 50 signal that builders, generally, are optimistic about sales trends. July’s result follows five months of pessimistic readings.
Economists polled by MarketWatch had expected a July reading of 50, compared with 49 in June.
A strengthening labor market is perking up builders, said David Crowe, NAHB’s chief economist.
“As employment increases and those with jobs feel more secure about their own economic situation, they are more likely to feel comfortable about buying a home,” Crowe said. http://www.marketwatch.com/story/home-builders-are-optimistic-for-first-time-in-six-months-2014-07-16
Dow hits intraday record; Apple, IBM drive gains
Wholesale prices rise; industrial production and home-builders index on tap
NEW YORK (MarketWatch) — The Dow Jones Industrial Average entered record territory again Wednesday, buoyed by better-than-expected earnings and corporate news.
Gains for Apple Inc., IBM Corp. and Intel Corp. were driving gains on the main benchmarks.
Investors will focus on testimony from Federal Reserve Chairwoman Janet Yellen and several items on the economic calendar. http://www.marketwatch.com/story/us-stocks-futures-build-on-gains-with-bank-of-america-ahead-2014-07-16
Gold hovers after three days of losses
Analyst: Fundamentals lacking for precious metal
MADRID (MarketWatch) — Gold prices inched fractionally lower on Wednesday, getting back on track after Janet Yellen’s dovish testimony sapped any chance for gains.
At last check, gold for August delivery (CNS:GCQ4) (CNS:GCQ4) was basically flat at around $1,298 an ounce. September silver (CNS:SIU4) gave up 8 cents to $20.81 an ounce.
A day earlier, gold prices reversed course and ended up losing ground for a third-straight session. This after the biggest drop of the year befell them to start the week. http://www.marketwatch.com/story/gold-hovers-after-three-days-of-losses-2014-07-16?dist=beforebell
U.S. stocks: Futures rise; Bank of America earnings next
Intel, Apple, IBM could rise premarket, Yahoo may fall
MADRID (MarketWatch) — Momentum was setting up for Wall Street at Wednesday’s open and maybe some recovery from a tough session, as stock futures logged gains ahead of earnings from Bank of America Corp.
Testimony from Federal Reserve Chairwoman Janet Yellen continues for a second day, while there are several items on the economic calendar, including a home-builders’ index and the Fed’s Beige book. http://www.marketwatch.com/story/us-stocks-futures-build-on-gains-with-bank-of-america-ahead-2014-07-16?dist=beforebell
After-hours buzz: Apple, IBM, Intel, Yahoo & more
http://www.cnbc.com/id/101838707
U.S. stocks close lower; Dow ekes out a gain
J.P. Morgan, Goldman Sachs beat earnings estimates
NEW YORK (MarketWatch) — The U.S. stock market closed lower, dragged down by sharp declines in momentum stocks after the Federal Reserve suggested valuations on biotech and Internet stocks may be stretched.
A positive start early in the session on better-than-expected results from J.P. Morgan Chase & Co. and Goldman Sachs Group Inc. and generally positive economic data fizzled out when Fed Chairwoman Janet Yellen began her two-day congressional testimony.
The S&P 500 (SNC:SPX) recovered some of the losses, but closed 3.78 points, or 0.2%, lower at 1,973.32. The Dow Jones Industrial Average (DJI:DJIA) ended the day 5.3 points higher at 17,060.75, after setting an intraday record in the morning. The Nasdaq Composite (NASDAQ:COMP) dropped 24.03 points, or 0.5%, to 4,416.39. The Russell 2000 (RSU:RUT) fell 11.5 points, or 1%, to the preliminary 1,154.18. http://www.marketwatch.com/story/us-stocks-futures-await-yellen-goldman-retail-sales-2014-07-15
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Gold falls for third session as Yellen testifies
SAN FRANCISCO (MarketWatch) -- Gold futures fell for a third session on Tuesday on the back of dovish comments from Federal Reserve Chairwoman Janet Yellen. August gold (CNS:GCQ4) dropped $9.60, or 0.7%, to settle at $1,297.10 an ounce on the Comex division of the New York Mercantile Exchange. Yellen, who was testifying in front of the Senate Banking Committee, said hiking interest rates is not a panacea for easing financial stability risks.
J.P. Morgan, Goldman rise on earnings beat
Plug Power jumps on analyst initiation; Lorillard drops on merger
http://www.marketwatch.com/story/goldman-sachs-johnson-johnson-report-earnings-tuesday-2014-07-15
Early movers: JPM, GS, JNJ, LO, TWX, TWTR & more
http://www.cnbc.com/id/101836910
Gold inches back from 2014’s biggest drop
Analyst: Strong earnings season will weigh on gold going forward
LOS ANGELES (MarketWatch) — Gold prices edged higher on Tuesday, but were nowhere close to making up the ground they lost in the prior session’s smackdown.
At last check, gold for August delivery (CNS:GCQ4) was up $3.40 to $1,310.10 an ounce. On Tuesday, however, prices took their hardest hit of the year, dropping 2.3% amid an investor rush into equities. No real demand for a safe haven when Dow is distancing itself from 17,000.
September silver (CNS:SIU4) also rose, perking up by 5 cents to $20.96 an ounce.
Evan Lucas of IG Markets says that a strong earnings season is shaping up, and that will continue to weigh on gold prices going forward.
“Yes, the bears will point to estimates being low-ball and the market is likely to discount the results somewhat,” he said. “However, the signs are that the U.S. is standing on its own two feet after so much fiscal support.”
Investors will get a clearer picture on that front throughout Tuesday’s session, with the testimony from Janet Yellen due out at 10:00 a.m. Eastern. Before that, retail sales for June and the NY Fed Empire manufacturing survey for July will be released. http://www.marketwatch.com/story/gold-inches-back-from-2014s-biggest-drop-2014-07-15
U.S. stocks: Dow 17,000 hinges on Goldman, Yellen
P. Morgan Chase, Johnson & Johnson also on the earnings calendar
MADRID (MarketWatch) — Stock futures stuck to the flat line on Tuesday, with the 17,000 level for the Dow Jones Industrial Average set to inch away as investors took in some bad economic news from Germany and awaited results from banking heavyweights Goldman Sachs Group Inc. and J.P. Morgan Chase & Co.
The data front is also busy enough, with testimony from Federal Reserve Chairwoman Janet Yellen as well as retail sales and producer prices on the calendar. http://www.marketwatch.com/story/us-stocks-futures-await-yellen-goldman-retail-sales-2014-07-15?dist=beforebell
After-hours buzz: Apollo, Sabra Software & more
http://www.cnbc.com/id/101834845
Nasdaq Scans 7/14:
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Active Options 7/14:
http://huntforthenext10bagger.com/active-options
Tesla, Citigroup gain; GoPro tumbles
http://www.marketwatch.com/story/citigroup-is-mondays-stock-to-watch-2014-07-13?dist=afterbell
U.S. stocks: Dow closes above 17,000
Energy, tech stocks lead gains on the S&P 500
NEW YORK (MarketWatch) — U.S. stocks rebounded on Monday with the Dow Jones Industrial Average closing above 17,000 as a flurry of deal news and better-than-expected earnings from Citigroup Inc increased demand for equities.
The banking heavyweight’s profit topped estimates, even as it reached a $7 billion settlement with the U.S. Justice Department over shoddy mortgage-backed securities. Citigroup shares climbed 3%, lifting shares of other banks such as J.P. Morgan Chase & Co (NYSE:JPM) and Goldman Sachs Group Inc. (NYSE:GS) .
The S&P 500 (SNC:SPX) closed 9.53 points, or 0.5%, higher at 1,977.10. The Dow Jones Industrial Average (DJI:DJIA) scaled an intraday record high, but retreated slightly in the afternoon to close 111.61 points, or 0.7%, higher at 17,055.42. The Nasdaq Composite (NASDAQ:COMP) gained 24.93 points, or 0.6%, to 4,440.42.
Read the recap of MarketWatch’s live blog of today’s stock-market action.
“This market has defied all odds and we are seeing a classic 18-month-long climb up the wall of worry, said Vince Lowry, CEO of RevenueShares.
“We expect the second half to be choppy and a 5-10% pullback would be healthy. However, the issue right now is that there are no sellers, as people do not want to miss out on the rally,” Lowry added.
The pace of the second-quarter earnings season will move into high gear this week with results due from large companies in the financial and technology sectors, the two largest sectors in the S&P 500 index.
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Gold plunges 2.3% in biggest daily drop of 2014
Barclays: There has been no long-term shift in bearish sentiment
NEW YORK (MarketWatch) — Gold futures saw their biggest daily drop of 2014 Monday as solid gains for stocks and lackluster physical demand for the precious metal prompted investors to book profits on recent gains.
August gold futures (CNS:GCQ4) plunged $30.70, or 2.3%, to $1,306.70 an ounce, marking the biggest one-day drop for a nearby futures contract since December. September silver (CNS:SIU4) fell more than 54.7 cents, or 2.6%, to $20.91 an ounce.
“Overall, we believe that physical demand has remained short of expectations, the latest price increase having been driven largely by speculation,” wrote Eugen Weinberg, commodity strategist at Commerzbank in Frankfurt, in a note.
Pointing to India, Weinberg said the country’s decision to maintain a 10% import duty on gold and silver “is also likely to have a dampening effect on future gold demand expectations. In conjunction with a rather below-average monsoon season, this points to below-average gold demand from India.” http://www.marketwatch.com/story/gold-slips-but-trend-still-points-higher-2014-07-14?link=MW_home_latest_news
U.S. stocks rise on earnings, M&A news
Energy, tech stocks lead gains on the S&P 500
NEW YORK (MarketWatch) — U.S. stocks advanced, pushing the Dow Jones Industrial Average above 17,000 and its previous closing record on Monday as investors welcomed better-than-expected earnings from Citigroup Inc. and a flurry of mergers and acquisitions. http://www.marketwatch.com/story/us-stocks-futures-climb-citigroup-results-in-view-2014-07-14
buying love the news for this bottom play!
Gold tumbles as investors cash in on recent gains
Barclays: There has been no long-term shift in bearish sentiment
MADRID (MarketWatch) — Gold took a dive early Monday in Europe, losing ground ahead of a heavy slate of economic data and earnings in the days ahead, as analysts spoke of investors taking profits and cautioned against reading too much into recent gains.
Gold was mildly down in Asian trading, but August futures (CNS:GCQ4) dropped $15.70, or 1.1%, to $1,321.60 an ounce, in a sharp move just ahead of Europe’s open. September silver (CNS:SIU4) followed suit with a loss of 27 cents, or 1.3%, to $21.17 an ounce. http://www.marketwatch.com/story/gold-slips-but-trend-still-points-higher-2014-07-14?dist=beforebell
U.S. stocks: Futures climb; Citigroup results in view
AbbVie’s new offer for Shire may open door to deal
LONDON (MarketWatch) — U.S. stock futures pointed higher Monday, before banking heavyweight Citigroup Inc. unveils quarterly results alongside an expected multibillion-dollar settlement with the U.S. Justice Department.
Futures for the Dow Jones Industrial Average (CBE:DJU4) rose 60 points, or 0.4%, to 16,941, while those for the S&P 500 index (GLC:SPU4) picked up 7 points, or 0.4%, to 1,969.30. The Nasdaq 100 index (GLC:NDU4) was up 19 points, or 0.5%, to 3,916.
The pace of the second-quarter earnings season will rev higher this week with results due from key names in the financial and technology sectors, the two largest sectors in the S&P 500 index (SNC:SPX) .
The banking sector and “valuations are going to remain the main focus for this week, as we will get the earnings from some of the biggest tycoons of Wall Street,” said Naeem Aslam, chief market analyst at AvaTrade, in a note. “The expectations are high, and investors are hoping that these earnings will cement the optimism that growth is on track in the U.S. and the revenues are healthy.”
Before the bell on Monday, Citigroup (NYSE:C) is expected to post second-quarter earnings of $1.05 a share, according to a consensus survey by FactSet. That compares with earnings of $1.25 a share in the same period a year ago. Revenue is likely to decline to $18.91 billion from $20.48 billion a year ago, hurt by a slump in fixed-income trading. http://www.marketwatch.com/story/us-stocks-futures-climb-citigroup-results-in-view-2014-07-14?dist=beforebell
Tech, bank earnings to test economic recovery
Several key players in S&P 500’s two largest cap sectors report
SAN FRANCISCO (MarketWatch) — Investors will get an early preview on whether corporate America backs a rosier economic picture this week as key players in the S&P 500’s two largest sectors — tech and financials — report quarterly results.
Of the seven Dow Jones Industrial Average DJIA +0.17% components reporting this week, four represent the tech or financial sectors. Similarly, roughly half of the S&P 500 Index SPX +0.15% companies reporting earnings this week fall either in the tech or financial camp.
While some may argue the bar is always lowered for companies leading up to earnings season, performance expectations are higher than usual following the pass investors gave many companies in the weather-beaten first quarter and stocks trading near record-high valuations.
Stocks are coming off a rough week with the Dow industrials finishing down 0.7%, the S&P 500 off 0.9%, and the Nasdaq Composite Index COMP +0.44% declining 1.6%. Even though Federal Reserve minutes revealing the central bank will end monthly bond purchases in October provided some lift, other factors including renewed worries about Portugal and a selloff in so-called momentum stocks put pressure on markets.
Second-quarter earnings growth for the S&P 500 stands at 4.6%. If the average “beat” over the past four years applies to this season, we could be looking at 7.7% growth by the end of the season, notes John Butters, senior earnings analyst at FactSet. Earnings, however, will still take a back seat to other factors. http://www.marketwatch.com/story/tech-bank-earnings-to-test-economic-recovery-2014-07-13
The truth about Dow 17,000
I didn’t think 17,000 on the Dow Jones Industrial Average was a “thing,” until I kept hearing about it from people over the holiday weekend, followed by the pundits discussing whether the market could hold that number this week.
The main significance of 17,000 is that it was right around the top limit of most optimistic forecasts for 2014, and now it was being broached at the year’s midway point.
You couldn’t have told that from the pundits or the public, who seem to forget that the Dow surpassed 15,000 just 14 months ago, a more significant milestone if only because it’s a multiple of 5,000.
Of course, the fascination with another round number could be nothing more than a slow news cycle around a holiday or it might be that as the current bull run has now easily surpassed five years and with most observers thinking there is more room to run, every number gets talked up as if it must signal the point of go-no-further.
In fact, 17,000 is a reminder that 15,000 was perhaps a big deal, especially if the Dow DJIA +0.17% can remain above that level if or when the next downturn comes. Likewise, 20,000 will at least be an emotionally significant number, if only because of the struggles the market endured from the point where it first broke five figures to where it doubled.
But right now, while we are somewhere in the middle, the 17,000 talk is just investors making way too much out of the passing of round numbers. http://www.marketwatch.com/story/dow-17000-is-just-a-number-2014-07-10
10 biggest market-moving events this week
A bank default in Portugal, more M&A deals and worries about overheated stocks led the news
MarketWatch rounded up the 10 most important news events of the past week. We focused on market-related issues, but we’ve included other subjects of great interest to readers. http://www.marketwatch.com/story/10-biggest-market-moving-events-this-week-2014-07-12
‘Supermoon’ coming tonight
The first of summer’s three “supermoons” will light the skies Saturday.
The full moon will look unusually big and bright, since will be in one of this year’s closest approaches to Earth (the distance varies, since our satellite has an elliptical orbit).
Native Americans gave this full moon the nickname “full buck moon”, since it was the time when male deer typically begin to grow their antlers.
As usual, your mileage may vary — the brightness of the moon depends on cloud cover and other factors. The phenomenon is not rare — every year there are four to six “supermoons.”
If something does get in the way of your “supermoon,” there will be others on Aug. 10 and Sept. 9. The August one will be the closest of the year.
CNET offered a few tips on how to take photographs of the moon.
And this site allows you to select your location to check the exact time for the moonrise and the moonset up to the minute. http://www.timeanddate.com/worldclock/moonrise.html