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Friday, October 29, 2010

Market Close Wrap-Up: October 29, 2010

The major U.S. equity indices closed mixed Friday after an economic growth report that didn't much help investor sentiment. The nation's GDP rose 2% annual pace during Q3, in line with economist expectations and just 1.7% above the rate in Q2. Strategic Wealth Partners' Tony Zabiegala commented, "Because GDP was so lackluster, we don't see the Fed pumping the brakes." In corporate news, Estee Lauder Cos. Inc. (NYSE:EL) reported a 14% boost to its Q1 net sales from the year-ago period at $2.09 billion. EPS rose 34% year-over-year to $0.95, up from $0.71 in the year-ago period. Net earnings for the quarter rose 36% year-over-year to $191.1 million. The Dow Jones Industrial Average (DJI) closed 0.04% higher at 11,118.49, the S&P500 (INX) closed 0.04% lower at 1,183.26, and the Nasdaq Composite (IXIC) closed 0.00% higher at 2,507.41.

Halliburton Shares Plunge

Oct. 28 2010 | Shares of Halliburton plunged after tests showed the company's cement mixture used to seal BP's oil well in the Gulf was unstable. CNBC's Eamon Javers has the story.

Thursday, October 28, 2010

Market Close Wrap-Up: October 28th, 2010

The major U.S. equity indices closed mixed Thursday despite a report from the Labor Department that found a decline of 21,000 in applications for jobless benefits to a seasonally adjusted 434,000 in the week that ended October 23rd. The figure is the second-lowest for first-time claims during 2010. In corporate news, Motorola, Inc. (NYSE:MOT) reported a Q3 net income of $109 million, or $0.05 per share, a significant jump from $12 million, or $0.01 per share in the year-ago period. Revenue for the quarter rose 6% year-over-year to $5.8 billion. Analysts forecast earnings of $0.12 per share on revenue of $5.66 billion. Colgate-Palmolive Co. (NYSE:CL) reported a Q3 net income boost to $619 million, or $1.21 per share, up from $590 million, or $1.12 per share in the year-ago period. Q3 sales fell 1.5% to $3.94 billion. FactSet Research analysts were looking for EPS of $1.19 with sales totaling $4 billion. The Dow Jones Industrial Average (DJI) closed 0.15% lower at 11,109.71, the S&P500 (INX) closed 0.10% higher at 1,183.67, and the Nasdaq Composite (IXIC) closed 0.16% higher at 2,507.37.

Wednesday, October 27, 2010

Markets Slammed As Dollar Jumps

Market Recap: October 27th, 2010

The major U.S. equity indices are trading lower Wednesday as investors grow more conservative about the central bank's attempts to stimulate the economy. Durable goods orders rose 3.3% in September to a seasonally adjusted $199.16 billion, beating consensus estimates for a rise of 2.5%. New-home sales in September rose 6.6% to a seasonally adjusted annual rate of 307,000, ahead of consensus estimates of 4.2%. In corporate news, Whirlpool (NYSE:WHR) shares are trading 4.84% lower at $80.43 after the company reported that profit fell 9.2%, despite sales strength in Latin America and Asia. The Dow Jones Industrial Average (DJI) is trading 1.23% lower at 11,032.13, the S&P500 (INX) is trading 0.99% lower at 1,173.95 and the Nasdaq Composite (IXIC) is trading 0.57% lower at 2,483.17.

Tuesday, October 26, 2010

Market Close Wrap-Up : October 26th, 2010

The major U.S. equity indices closed higher Tuesday, following disappointing earnings and news on home prices. Stocks edged back up after a decline earlier in the afternoon, following October's consumer confidence report. The Standard & Poor's/Case-Shiller home price index declined 0.2% in August. Price declines were apparent for fifteen out of the total 20 cities examined in the index. In corporate news, Kimberly-Clark Corp. (NYSE:KMB) reported a Q3 earnings miss. The company earned $469 million, or $1.14 per share, down from $582 million, or $1.40 per share in the year-ago period. Revenue rose 1% year-over-year to $5 billion. Analysts were looking for EPS of $1.28 on revenue of $5 billion. TD Ameritrade Holding Corp. (NASAQ:AMTD) reported Q4 net income of $114 million, or $0.20 per share, down from $157 million, or $0.26 per share in the year-ago period. Revenue fell nearly 8% to $609 million. Analyst expected EPS of $0.23 on revenue of $619.2 million. The Dow Jones Industrial (DJI) closed 0.05% higher at 11,169.46, the S&P500 (INX) closed 0.01% higher at 1,185.64, and the Nasdaq Composite (IXIC) closed 0.26% higher at 2,497.29.

Thursday, October 21, 2010

Asian Shares Down on China, Yen

In today's Market Report: Shanghai stocks slid in volatile trade Thursday. They were weighed down by banking shares after data from China showed growth slowing and inflation edging higher. Shanghai's Composite Index tumbled one-and-a-half percent.

Financial stocks were lower Thursday, succumbing to profit-taking pressures amid talk of policy tightening.

China's economic data was broadly in line with forecasts, falling slightly after its central bank hiked rates on Tuesday.

China Mobile's lackluster third-quarter results put a damper on the telecom sector in Hong Kong, pulling down shares of the world's biggest mobile operator and its rivals.

The Hang Seng drifted lower, along with other Asian markets.

Tokyo stocks rose in morning trade, as the yen dropped after the U.S. Treasury Secretary said he saw no reason for further dollar weakness. But the yen later rebounded, sending Japan's Nikkei down to its lowest close in three weeks.

Tuesday, October 19, 2010

Are Markets Headed For Massive Selloff?

Author Harry Dent breaks down why economic instability is the precursor for a market crash.

Thursday, October 14, 2010

Asia Shares Rise on Metals

In today's market report... the U.S. dollar tumbled against a basket of currencies. There's a growing expectation among traders that the value of the dollar will continue to drop and metals prices will soar.

Today, the U.S. dollar hit a 28-year low against the Australian dollar and continued to struggle against the euro and yen.

The Australian dollar gained on its high yield and link to commodities like copper and gold.

Separately, Singapore's central bank said it would slightly increase the trading band for the city-state's currency. The Singapore dollar hit a record high, while the dollar stood at its lowest level against the six major currencies in 10 months.

Even with the dollar's tumble, Asian share markets rose, led by resource stocks.

Japan's Mitsui Mining gained as gold hit a new record high and copper hit a 27-month peak, while Australian mining giants Rio Tinto and BHP Billiton rose.

Monday, October 11, 2010

Chinese Stocks Rise To 5-Month Highs

Chinese stocks rise more than 3% to reach a 5-month high. The rally in China was driven by gold and global commodity gains during the Chinese holiday.

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