Friday, April 25, 2008 12:37:58 AM
Market Update 080424
http://biz.yahoo.com/mu/update.html
4:20 pm : Stocks concluded Thursday's trading with a healthy gain. Selling pressure had kept the stock market in negative territory for the majority of the morning, but sentiment turned positive when buyers returned to the fold to lift stocks into the green.
Large-cap tech names helped the Nasdaq outperform the Dow Jones and S&P 500. Apple (AAPL 168.94, +6.05) and Qualcomm (QCOM 43.16, +1.27) both provided soft earnings outlooks after yesterday's close, but still attracted buyers. The strength of the two names helped lift the Nasdaq nearly 1.0%.
However, financials (+3.8%) led the market for the entire session. At its session high, the sector climbed more than 4%. American International Group (AIG 46.97, +3.11) and Citigroup (C 25.76, +1.13) were the strongest performers in both the financial sector and the S&P 500.
Dow Jones component 3M (MMM 79.13, -1.50) trailed the broader market and concluded the session lower, despite announcing better than expected first quarter earnings results.
Also underperforming the broader market, Starbucks (SBUX 15.99, -1.86) finished the session with a substantial loss after the company guided its earnings outlook below that of the consensus forecast.
The dollar rallied 1.0% against a basket of leading world currencies. The greenback's gain helped put downward pressure on oil, which closed $2.22 lower at $116.09 per barrel on the Nymex. Oil's pullback helped fuel buying interest in stocks, though the energy sector suffered a 2.2% loss.
New home sales totaled 526,000 during March, declining 8.5% month-over-month. On average, economists expected sales of 580,000 units for the month. Sales in the prior month declined 5.3% month-over-month to a revised 575,000 units.
Durable goods orders for March slipped 0.3%, but climbed 1.5% when excluding transportation. Economists forecast orders would go unchanged for the month. Excluding transportation, economists predicted orders during March would climb by 0.5%. February's orders were revised from a decline of 1.7% to a decline of 0.9%. Excluding transportation, February's orders were revised from a 2.6% downturn to a less severe 2.1% downturn.
Jobless claims came in at 342,000 for the week ending April 19, which is below the 375,000 claims economists came to expect. Claims for the prior week were revised up from 372,000 to 375,000. Continuing claims for the week ending April 12 totaled 2.93 million; economists were expecting 2.99 million continuing claims.DJ30 +85.73 NASDAQ +23.71 NQ100 +0.9% R2K +1.3% SP400 +0.8% SP500 +8.89 NASDAQ Dec/Adv/Vol 1015/1828/2.32 bln NYSE Dec/Adv/Vol 1146/1993/1.45 bln
3:30 pm : With only a half-hour remaining in the trading day stocks continue to hold strong. Though the market is off its session high, it remains 1.0% to the upside.
Large-cap tech stocks are helping the Nasdaq outperform the S&P 500 and Dow Jones. Apple (AAPL 169.37, +6.48) and Qualcomm (QCOM 43.44, +1.55) are both providing leadership to the Nasdaq despite soft earnings outlooks from each firm.
Crude oil closed $2.22 lower at $116.09 per barrel on the Nymex. Oil's pullback helped fuel buying interest in stocks this session.DJ30 +137.68 NASDAQ +33.51 SP500 +14.33 NASDAQ Dec/Adv/Vol 973/1855/1.94 bln NYSE Dec/Adv/Vol 1109/2000/1.14 bln
3:00 pm : All three of the major indices remain more than 1.0% higher.
Dow Jones component 3M (MMM 79.93, -0.70) is lagging the broader market, despite announcing this morning better than expected first quarter earnings results.
Fellow Dow Jones components Exxon Mobil (XOM 93.16, -1.06), Chevron (CVX 93.31, -1.17), and Alcoa (AA 35.14, -0.19) are also trading lower. Their downturn reflects that of the energy (-1.8%) and materials (-0.7%) sectors.
Each of the remaining stocks listed in the Dow Jones are trading higher.DJ30 +155.59 NASDAQ +36.67 SP500 +15.16 NASDAQ Dec/Adv/Vol 929/1867/1.74 bln NYSE Dec/Adv/Vol 1063/2035/1.02 bln
2:30 pm : Stocks have climbed to their best levels of the session amid widespread buying. The financial sector continues to provide primary support to the overall stock market; financials are now up 4.1%.
American International Group (AIG 47.43, +3.57) is providing the most influence to the financial sector and the S&P 500.
Gold closed $19.30 lower at $889.70 per ounce.DJ30 +171.39 NASDAQ +37.83 SP500 +16.55 NASDAQ Dec/Adv/Vol 946/1864/1.60 bln NYSE Dec/Adv/Vol 1067/2013/932.27 mln
2:00 pm : The stock market is climbing back toward its session highs, with financials showing strength (+3.6%). There does not appear to be one specific catalyst for the buying interest within financials, although they extended their gains midday on word that Merrill Lynch (MER 48.55, +3.64) is not going to cut its dividend. Buying interest is broad-based within the sector, with notable advances in thrifts & mortgages (5.6%), multi-line insurance (+5.6%) and investment banks & brokerages (+5.4%).
Meanwhile the dollar is rallying 1.20% against a basket of leading world currencies. The euro, down 1.50%, is seeing its steepest one day percent decline against the dollar in three years, conversely the dollar index is seeing its largest one day gain in more than three years.
The strength in the dollar is fueling selling interest in commodities (-1.9%). Oil is down 2.3% and gold is down 2.1%.DJ30 +143.30 NASDAQ +28.28 SP500 +12.86 NASDAQ Dec/Adv/Vol 1014/1766/1.43 bln NYSE Dec/Adv/Vol 1199/1874/837 mln
1:30 pm : After retesting its session high the stock market has taken a dip lower.
Still, the mood on Wall Street remains rather positive, which is a change from midmorning sentiment. Seven of the ten economic sectors are trading in positive ground. Early on, only financials (+3.5%) were trading higher.
Treasuries have been largely out of favor this session. The 10-year note is down 27 ticks and is now yielding 3.84%, its highest yield since February.DJ30 +112.28 NASDAQ +22.62 SP500 +10.37 NASDAQ Dec/Adv/Vol 1032/1725/1.33 bln NYSE Dec/Adv/Vol 1219/1825/775.21 mln
1:00 pm : Buying continues to support stocks, while oil continues to slip in price.
Oil prices are now down more than 2.7%, trading hands at $115.08 per barrel. The drop in oil has prompted selling pressure in the energy sector (-1.9%). In turn, shares of Exxon Mobil (XOM 93.01, -1.21) and Chevron (CVX 92.87, -1.61) have been out of favor.
The weakness in the energy sector is translating into strength in the consumer discretionary sector (+1.5%) as oil prices pull back from record highs.
Financials (+3.5%) also continue to lead the market, offsetting weakness in the energy sector.DJ30 +118.63 NASDAQ +23.96 SP500 +10.67 NASDAQ Dec/Adv/Vol 1039/1695/1.22 bln NYSE Dec/Adv/Vol 1203/1831/705.29 mln
12:30 pm : The stock market continues to trade in higher ground as buyers have re-entered the fold. All three major indices are near their respective session highs. Large-cap tech has gone from being out of favor to a relative leader as the Nasdaq is now up more than 1.0%.
Still out of favor are shares of Starbucks (SBUX 15.83, -2.02). The company projected earnings for the second quarter and full year that failed to meet analysts' expectations. The stock fell to a new 52-week low earlier in the session.DJ30 +103.56 NASDAQ +23.62 SP500 +9.49 NASDAQ Dec/Adv/Vol 1086/1617/1.09 bln NYSE Dec/Adv/Vol 1244/1771/633.46 mln
12:00 pm : After opening the session in positive territory, stocks quickly succumbed to selling pressure to trade in the red for most of the morning. The negative bias during the session's early hours was widespread, though financials found favor among participants. The financial sector continues to outpace the broader market.
Following yesterday's close, Apple (AAPL 165.27, +2.38) announced it topped earnings estimates for its most recent quarter, but guided its earnings per share outlook below Wall Street's consensus estimate.
Ford Motor (F 8.50, +0.98) reversed last year's loss to post a profit in this year's first fiscal quarter. The profit was unexpected by analysts.
Financials (+2.7%) are being supported by buying interest in the nation's two largest banks, Citigroup (C 25.53, +0.90) and Bank of America (BAC 37.91, +1.05). Shares of BAC have traded lower in each of the previous three sessions, since the company announced disappointing first quarter earnings results Monday.
New home sales totaled 526,000 during March. On average, economists expected sales of 580,000 units for the month. Month-over-month, sales declined 8.5%. Sales in the prior month declined 5.3% month-over-month to a revised 575,000 units.
Durable goods orders for March slipped 0.3%, but climbed 1.5% when excluding transportation. Economists forecast orders would go unchanged for the month. Excluding transportation, economists predicted orders during March would climb by 0.5%. February's orders were revised from a decline of 1.7% to a decline of 0.9%. Excluding transportation, February's orders were revised from a 2.6% downturn to a less severe 2.1% downturn.
Jobless claims came in at 342,000 for the week ending April 19. Economists had more of a dour outlook and forecast 375,000 claims. Claims for the prior week were revised up from 372,000 to 375,000. Continuing claims for the week ending April 12 totaled 2.93 million; economists were expecting 2.99 million continuing claims.
Oil prices have slipped nearly 1% in trading. Crude is now trading hands for $117.20 per barrel. Its price remains nearly 25% higher year-to-date.DJ30 +51.94 NASDAQ +16.96 SP500 +5.21 NASDAQ Dec/Adv/Vol 1127/1550/947.45 mln NYSE Dec/Adv/Vol 1362/1607/547.47 mln
11:30 am : Stocks are making a strong upswing and have just crossed into positive ground. Five of the ten major economic sectors are now trading in positive territory.
Financials continue to lead the broader market. The sector is now up 2.3%. Shares of the nation's two largest banks, Citigroup (C 25.44, +0.81) and Bank of America (BAC 37.83, +0.97), pace the sector. Shares of BAC have traded lower in each of the previous three sessions, following the company's disappointing first quarter earnings results announced Monday. DJ30 +18.32 NASDAQ +1.72 SP500 +1.34 NASDAQ Dec/Adv/Vol 1340/1257/770.38 mln NYSE Dec/Adv/Vol 1615/1316/454.85 mln
11:00 am : Stocks are trading sideways in choppy fashion. There are only a few pockets of relative strength as participants focus on earnings misses and tepid profit forecasts.
Notably, shares of Ford Motor Company (F 8.11, +0.59) are trading higher after the auto manufacturer announced a positive earnings surprise of $0.05 per share. On average, analysts were expecting a loss of $0.16 per share. This quarter's earnings reverse the $0.09 loss per share incurred one year ago.DJ30 -38.51 NASDAQ -12.03 SP500 -5.77 NASDAQ Dec/Adv/Vol 1534/1014/627.44 mln NYSE Dec/Adv/Vol 1800/1088/368.38 mln
10:30 am : Stocks continue to trade in negative territory. The session's pessimism is widespread.
Financials (+1.3%) are the only sector trading in positive territory. Shares of Citigroup (C 25.06, +0.43) and JPMorgan Chase (JPM 45.95, +0.80) are providing the most influence. DJ30 -31.75 NASDAQ -16.29 SP500 -5.92 NASDAQ Dec/Adv/Vol 1555/899/474.26 mln NYSE Dec/Adv/Vol 1788/1042/277.67 mln
10:00 am : Stocks have fallen further after disappointing new home sales data. All three of the major indices are at their morning lows.
New home sales totaled 526,000 during March, which is below the consensus forecast of 580,000 units. New home sales during February were revised lower from 590,000 to 575,000. Month-over-month, March's sales slipped 8.5%. Economists predicted a 1.7% decline month-over-month. February's sales fell by a revised 5.3% month-over-month.DJ30 -12.70 NASDAQ -12.05 SP500 -2.50 NASDAQ Dec/Adv/Vol 1313/958/273.57 mln NYSE Dec/Adv/Vol 1566/1143/166.79 mln
09:45 am : The negative tone lurking in premarket activity has crept back into the stock market. After opening in positive ground the S&P 500 has fallen into the red.
Helping to temporarily reverse the early morning's negative sentiment was a better than expected weekly jobless claims tally. Jobless claims for the week ending April 19 totaled 342,000. Economists were expecting 375,000 claims to be filed. Jobless claims for the prior week were revised up to 375,000 from 372,000.
Durable goods orders for March declined 0.3%, although economists were expecting no change. Last month's orders were revised from a 1.7% decline to a 0.9% decline. Excluding transportation, March's orders increased 1.5%, which is better than the 0.5% increase that was widely expected. February orders, excluding transportation, were revised from a 2.6% decline to a 2.1% decline.DJ30 +13.68 NASDAQ -6.17 SP500 -0.87 NASDAQ Dec/Adv/Vol 1158/1013/166.03 mln NYSE Dec/Adv/Vol 1343/1283/101.71 mln
09:15 am : S&P futures vs fair value: -0.3. Nasdaq futures vs fair value: -3.0. Only a few minutes ahead of opening bell futures have now fully reversed course from their previous pessimistic tone. Stocks are now in position to open the session in positive ground.
09:00 am : S&P futures vs fair value: -5.0. Nasdaq futures vs fair value: -9.0. The negative tone indicated among futures as eased a bit, but continue to indicate stocks will open in negative ground. Earnings results have been predominately positive.
08:30 am : S&P futures vs fair value: -6.8. Nasdaq futures vs fair value: -12.0. Futures continue to indicate a start to the downside. Jobless claims for the week ending April 19 totaled 342,000. The consensus estimate projected 375,000 claims would be filed. Durable goods orders for March declined 0.3%. Economists were expecting no change in orders.
08:00 am : S&P futures vs fair value: -10.5. Nasdaq futures vs fair value: -17.8. Furtures indicate a start to the downside. Apple (AAPL) reported after yesterday's close it topped the conesnsus earnings estimate for its most recent quarter. Qualcomm (QCOM), another name in the tech sector, also beat its consensus earnings estimate.
06:09 am : S&P futures vs fair value: -7.7. Nasdaq futures vs fair value: -17.0.
06:08 am : FTSE...5999.60...-84.00...-1.4%. DAX...6757.74...-37.29...-0.6%.
06:08 am : Nikkei...13540.87...-38.29...-0.3%. Hang Seng...25680.78...+391.54...+1.6%.
http://biz.yahoo.com/mu/update.html
4:20 pm : Stocks concluded Thursday's trading with a healthy gain. Selling pressure had kept the stock market in negative territory for the majority of the morning, but sentiment turned positive when buyers returned to the fold to lift stocks into the green.
Large-cap tech names helped the Nasdaq outperform the Dow Jones and S&P 500. Apple (AAPL 168.94, +6.05) and Qualcomm (QCOM 43.16, +1.27) both provided soft earnings outlooks after yesterday's close, but still attracted buyers. The strength of the two names helped lift the Nasdaq nearly 1.0%.
However, financials (+3.8%) led the market for the entire session. At its session high, the sector climbed more than 4%. American International Group (AIG 46.97, +3.11) and Citigroup (C 25.76, +1.13) were the strongest performers in both the financial sector and the S&P 500.
Dow Jones component 3M (MMM 79.13, -1.50) trailed the broader market and concluded the session lower, despite announcing better than expected first quarter earnings results.
Also underperforming the broader market, Starbucks (SBUX 15.99, -1.86) finished the session with a substantial loss after the company guided its earnings outlook below that of the consensus forecast.
The dollar rallied 1.0% against a basket of leading world currencies. The greenback's gain helped put downward pressure on oil, which closed $2.22 lower at $116.09 per barrel on the Nymex. Oil's pullback helped fuel buying interest in stocks, though the energy sector suffered a 2.2% loss.
New home sales totaled 526,000 during March, declining 8.5% month-over-month. On average, economists expected sales of 580,000 units for the month. Sales in the prior month declined 5.3% month-over-month to a revised 575,000 units.
Durable goods orders for March slipped 0.3%, but climbed 1.5% when excluding transportation. Economists forecast orders would go unchanged for the month. Excluding transportation, economists predicted orders during March would climb by 0.5%. February's orders were revised from a decline of 1.7% to a decline of 0.9%. Excluding transportation, February's orders were revised from a 2.6% downturn to a less severe 2.1% downturn.
Jobless claims came in at 342,000 for the week ending April 19, which is below the 375,000 claims economists came to expect. Claims for the prior week were revised up from 372,000 to 375,000. Continuing claims for the week ending April 12 totaled 2.93 million; economists were expecting 2.99 million continuing claims.DJ30 +85.73 NASDAQ +23.71 NQ100 +0.9% R2K +1.3% SP400 +0.8% SP500 +8.89 NASDAQ Dec/Adv/Vol 1015/1828/2.32 bln NYSE Dec/Adv/Vol 1146/1993/1.45 bln
3:30 pm : With only a half-hour remaining in the trading day stocks continue to hold strong. Though the market is off its session high, it remains 1.0% to the upside.
Large-cap tech stocks are helping the Nasdaq outperform the S&P 500 and Dow Jones. Apple (AAPL 169.37, +6.48) and Qualcomm (QCOM 43.44, +1.55) are both providing leadership to the Nasdaq despite soft earnings outlooks from each firm.
Crude oil closed $2.22 lower at $116.09 per barrel on the Nymex. Oil's pullback helped fuel buying interest in stocks this session.DJ30 +137.68 NASDAQ +33.51 SP500 +14.33 NASDAQ Dec/Adv/Vol 973/1855/1.94 bln NYSE Dec/Adv/Vol 1109/2000/1.14 bln
3:00 pm : All three of the major indices remain more than 1.0% higher.
Dow Jones component 3M (MMM 79.93, -0.70) is lagging the broader market, despite announcing this morning better than expected first quarter earnings results.
Fellow Dow Jones components Exxon Mobil (XOM 93.16, -1.06), Chevron (CVX 93.31, -1.17), and Alcoa (AA 35.14, -0.19) are also trading lower. Their downturn reflects that of the energy (-1.8%) and materials (-0.7%) sectors.
Each of the remaining stocks listed in the Dow Jones are trading higher.DJ30 +155.59 NASDAQ +36.67 SP500 +15.16 NASDAQ Dec/Adv/Vol 929/1867/1.74 bln NYSE Dec/Adv/Vol 1063/2035/1.02 bln
2:30 pm : Stocks have climbed to their best levels of the session amid widespread buying. The financial sector continues to provide primary support to the overall stock market; financials are now up 4.1%.
American International Group (AIG 47.43, +3.57) is providing the most influence to the financial sector and the S&P 500.
Gold closed $19.30 lower at $889.70 per ounce.DJ30 +171.39 NASDAQ +37.83 SP500 +16.55 NASDAQ Dec/Adv/Vol 946/1864/1.60 bln NYSE Dec/Adv/Vol 1067/2013/932.27 mln
2:00 pm : The stock market is climbing back toward its session highs, with financials showing strength (+3.6%). There does not appear to be one specific catalyst for the buying interest within financials, although they extended their gains midday on word that Merrill Lynch (MER 48.55, +3.64) is not going to cut its dividend. Buying interest is broad-based within the sector, with notable advances in thrifts & mortgages (5.6%), multi-line insurance (+5.6%) and investment banks & brokerages (+5.4%).
Meanwhile the dollar is rallying 1.20% against a basket of leading world currencies. The euro, down 1.50%, is seeing its steepest one day percent decline against the dollar in three years, conversely the dollar index is seeing its largest one day gain in more than three years.
The strength in the dollar is fueling selling interest in commodities (-1.9%). Oil is down 2.3% and gold is down 2.1%.DJ30 +143.30 NASDAQ +28.28 SP500 +12.86 NASDAQ Dec/Adv/Vol 1014/1766/1.43 bln NYSE Dec/Adv/Vol 1199/1874/837 mln
1:30 pm : After retesting its session high the stock market has taken a dip lower.
Still, the mood on Wall Street remains rather positive, which is a change from midmorning sentiment. Seven of the ten economic sectors are trading in positive ground. Early on, only financials (+3.5%) were trading higher.
Treasuries have been largely out of favor this session. The 10-year note is down 27 ticks and is now yielding 3.84%, its highest yield since February.DJ30 +112.28 NASDAQ +22.62 SP500 +10.37 NASDAQ Dec/Adv/Vol 1032/1725/1.33 bln NYSE Dec/Adv/Vol 1219/1825/775.21 mln
1:00 pm : Buying continues to support stocks, while oil continues to slip in price.
Oil prices are now down more than 2.7%, trading hands at $115.08 per barrel. The drop in oil has prompted selling pressure in the energy sector (-1.9%). In turn, shares of Exxon Mobil (XOM 93.01, -1.21) and Chevron (CVX 92.87, -1.61) have been out of favor.
The weakness in the energy sector is translating into strength in the consumer discretionary sector (+1.5%) as oil prices pull back from record highs.
Financials (+3.5%) also continue to lead the market, offsetting weakness in the energy sector.DJ30 +118.63 NASDAQ +23.96 SP500 +10.67 NASDAQ Dec/Adv/Vol 1039/1695/1.22 bln NYSE Dec/Adv/Vol 1203/1831/705.29 mln
12:30 pm : The stock market continues to trade in higher ground as buyers have re-entered the fold. All three major indices are near their respective session highs. Large-cap tech has gone from being out of favor to a relative leader as the Nasdaq is now up more than 1.0%.
Still out of favor are shares of Starbucks (SBUX 15.83, -2.02). The company projected earnings for the second quarter and full year that failed to meet analysts' expectations. The stock fell to a new 52-week low earlier in the session.DJ30 +103.56 NASDAQ +23.62 SP500 +9.49 NASDAQ Dec/Adv/Vol 1086/1617/1.09 bln NYSE Dec/Adv/Vol 1244/1771/633.46 mln
12:00 pm : After opening the session in positive territory, stocks quickly succumbed to selling pressure to trade in the red for most of the morning. The negative bias during the session's early hours was widespread, though financials found favor among participants. The financial sector continues to outpace the broader market.
Following yesterday's close, Apple (AAPL 165.27, +2.38) announced it topped earnings estimates for its most recent quarter, but guided its earnings per share outlook below Wall Street's consensus estimate.
Ford Motor (F 8.50, +0.98) reversed last year's loss to post a profit in this year's first fiscal quarter. The profit was unexpected by analysts.
Financials (+2.7%) are being supported by buying interest in the nation's two largest banks, Citigroup (C 25.53, +0.90) and Bank of America (BAC 37.91, +1.05). Shares of BAC have traded lower in each of the previous three sessions, since the company announced disappointing first quarter earnings results Monday.
New home sales totaled 526,000 during March. On average, economists expected sales of 580,000 units for the month. Month-over-month, sales declined 8.5%. Sales in the prior month declined 5.3% month-over-month to a revised 575,000 units.
Durable goods orders for March slipped 0.3%, but climbed 1.5% when excluding transportation. Economists forecast orders would go unchanged for the month. Excluding transportation, economists predicted orders during March would climb by 0.5%. February's orders were revised from a decline of 1.7% to a decline of 0.9%. Excluding transportation, February's orders were revised from a 2.6% downturn to a less severe 2.1% downturn.
Jobless claims came in at 342,000 for the week ending April 19. Economists had more of a dour outlook and forecast 375,000 claims. Claims for the prior week were revised up from 372,000 to 375,000. Continuing claims for the week ending April 12 totaled 2.93 million; economists were expecting 2.99 million continuing claims.
Oil prices have slipped nearly 1% in trading. Crude is now trading hands for $117.20 per barrel. Its price remains nearly 25% higher year-to-date.DJ30 +51.94 NASDAQ +16.96 SP500 +5.21 NASDAQ Dec/Adv/Vol 1127/1550/947.45 mln NYSE Dec/Adv/Vol 1362/1607/547.47 mln
11:30 am : Stocks are making a strong upswing and have just crossed into positive ground. Five of the ten major economic sectors are now trading in positive territory.
Financials continue to lead the broader market. The sector is now up 2.3%. Shares of the nation's two largest banks, Citigroup (C 25.44, +0.81) and Bank of America (BAC 37.83, +0.97), pace the sector. Shares of BAC have traded lower in each of the previous three sessions, following the company's disappointing first quarter earnings results announced Monday. DJ30 +18.32 NASDAQ +1.72 SP500 +1.34 NASDAQ Dec/Adv/Vol 1340/1257/770.38 mln NYSE Dec/Adv/Vol 1615/1316/454.85 mln
11:00 am : Stocks are trading sideways in choppy fashion. There are only a few pockets of relative strength as participants focus on earnings misses and tepid profit forecasts.
Notably, shares of Ford Motor Company (F 8.11, +0.59) are trading higher after the auto manufacturer announced a positive earnings surprise of $0.05 per share. On average, analysts were expecting a loss of $0.16 per share. This quarter's earnings reverse the $0.09 loss per share incurred one year ago.DJ30 -38.51 NASDAQ -12.03 SP500 -5.77 NASDAQ Dec/Adv/Vol 1534/1014/627.44 mln NYSE Dec/Adv/Vol 1800/1088/368.38 mln
10:30 am : Stocks continue to trade in negative territory. The session's pessimism is widespread.
Financials (+1.3%) are the only sector trading in positive territory. Shares of Citigroup (C 25.06, +0.43) and JPMorgan Chase (JPM 45.95, +0.80) are providing the most influence. DJ30 -31.75 NASDAQ -16.29 SP500 -5.92 NASDAQ Dec/Adv/Vol 1555/899/474.26 mln NYSE Dec/Adv/Vol 1788/1042/277.67 mln
10:00 am : Stocks have fallen further after disappointing new home sales data. All three of the major indices are at their morning lows.
New home sales totaled 526,000 during March, which is below the consensus forecast of 580,000 units. New home sales during February were revised lower from 590,000 to 575,000. Month-over-month, March's sales slipped 8.5%. Economists predicted a 1.7% decline month-over-month. February's sales fell by a revised 5.3% month-over-month.DJ30 -12.70 NASDAQ -12.05 SP500 -2.50 NASDAQ Dec/Adv/Vol 1313/958/273.57 mln NYSE Dec/Adv/Vol 1566/1143/166.79 mln
09:45 am : The negative tone lurking in premarket activity has crept back into the stock market. After opening in positive ground the S&P 500 has fallen into the red.
Helping to temporarily reverse the early morning's negative sentiment was a better than expected weekly jobless claims tally. Jobless claims for the week ending April 19 totaled 342,000. Economists were expecting 375,000 claims to be filed. Jobless claims for the prior week were revised up to 375,000 from 372,000.
Durable goods orders for March declined 0.3%, although economists were expecting no change. Last month's orders were revised from a 1.7% decline to a 0.9% decline. Excluding transportation, March's orders increased 1.5%, which is better than the 0.5% increase that was widely expected. February orders, excluding transportation, were revised from a 2.6% decline to a 2.1% decline.DJ30 +13.68 NASDAQ -6.17 SP500 -0.87 NASDAQ Dec/Adv/Vol 1158/1013/166.03 mln NYSE Dec/Adv/Vol 1343/1283/101.71 mln
09:15 am : S&P futures vs fair value: -0.3. Nasdaq futures vs fair value: -3.0. Only a few minutes ahead of opening bell futures have now fully reversed course from their previous pessimistic tone. Stocks are now in position to open the session in positive ground.
09:00 am : S&P futures vs fair value: -5.0. Nasdaq futures vs fair value: -9.0. The negative tone indicated among futures as eased a bit, but continue to indicate stocks will open in negative ground. Earnings results have been predominately positive.
08:30 am : S&P futures vs fair value: -6.8. Nasdaq futures vs fair value: -12.0. Futures continue to indicate a start to the downside. Jobless claims for the week ending April 19 totaled 342,000. The consensus estimate projected 375,000 claims would be filed. Durable goods orders for March declined 0.3%. Economists were expecting no change in orders.
08:00 am : S&P futures vs fair value: -10.5. Nasdaq futures vs fair value: -17.8. Furtures indicate a start to the downside. Apple (AAPL) reported after yesterday's close it topped the conesnsus earnings estimate for its most recent quarter. Qualcomm (QCOM), another name in the tech sector, also beat its consensus earnings estimate.
06:09 am : S&P futures vs fair value: -7.7. Nasdaq futures vs fair value: -17.0.
06:08 am : FTSE...5999.60...-84.00...-1.4%. DAX...6757.74...-37.29...-0.6%.
06:08 am : Nikkei...13540.87...-38.29...-0.3%. Hang Seng...25680.78...+391.54...+1.6%.
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