Chicago Sun-Times Latest news from the Chicago Sun-Times Online en-us (Editor) Newspapers Chicago Sun-Times 84 34 30 Copyright 2014 <![CDATA[ Stocks edge lower as bull market enters 3rd year ]]> Lead story image

NEW YORK (AP) — The two-year anniversary of the fastest bull market since the 1950s ended on a down note. Stocks dipped Wednesday as crude oil prices hovered near $104 a barrel, continuing a three-week run of high prices that economists say could slow the economic recovery. Stocks hit 12-year lows on March 9, 2009, dragged down by the financial crisis. The S&P 500 index, the benchmark for most U.S. mutual funds, has had a total return of 102 percent since then, including dividends. It was the best two-year period for the index since 1955, according to Standard & Poor’s. … ]]> Wed, 09 Mar 2011 18:26:26 -0600 <![CDATA[ Stocks soar, oil prices dip ]]> Lead story image

NEW YORK (AP) — Financial companies pushed stock indexes higher Tuesday on signs that banks may soon raise their dividends. Bank of America Corp. gained 4.7 percent, the most of the 30 stocks that make up the Dow Jones industrial average, after chief executive Brian Moynihan told an investor’s meeting that the bank could earn more money over the next two years as its business stabilizes. That led analysts to note that large consumer banks may raise their dividends. Banks slashed dividends during the 2008 financial crisis to cut costs. Financial stocks in the S&P 500 index rose 2.2 percent, … ]]> Sun, 10 Apr 2011 00:22:00 -0600 <![CDATA[ Stocks edge lower as oil prices spike again ]]> Lead story image

Stocks fell Monday, giving up earlier gains, as higher oil prices weighed on the market. Oil hit a two-year high early in the day, nearing $107 a barrel, but pulled back slightly by mid-morning. ]]> Mon, 07 Mar 2011 14:09:47 -0600 <![CDATA[ Stocks close with big gains as hope builds for job recovery ]]> Lead story image

Stocks rose sharply on Thursday after an unexpected drop in new applications for unemployment benefits and strong retail sales. The Dow Jones industrial average had its biggest gain since Dec. 1. The Labor Department said first-time claims for unemployment benefits fell to 368,000. That’s the lowest level since May 2008. Economists had expected the number of claims to rise. Separately, the Institute for Supply Management said its measure of hiring by service companies rose to the highest level since April 2006. The index covers a broad range of industries including retail, health care and financial services. The signs of job … ]]> Thu, 03 Mar 2011 18:00:45 -0600 <![CDATA[ Stocks edge higher on jobs news, Fed survey ]]> Lead story image

NEW YORK (AP) — Stocks are closing slightly higher after a surprisingly strong report on hiring by private companies raised hopes that the job market may be improving. Trading was choppy as oil prices rose to $102 per barrel. Payroll processor ADP said companies added 217,000 jobs last month, above what analysts predicted. That raised expectations that the government’s employment report coming out Friday could show a decline in the unemployment rate. The Dow Jones industrial average rose 8 points, or 0.1 percent, to close at 12,066. The S&P 500 rose 2, or 0.2 percent, to 1,308. The Nasdaq gained … ]]> Wed, 02 Mar 2011 15:56:00 -0600 <![CDATA[ Stocks rise on economic reports ]]> Lead story image

NEW YORK (AP) — Stocks are finishing with small gains after stronger-than-expected economic news and a jump in January retail sales. Consumer discretionary companies in the S&P 500 index gained 1.2 percent after chains reported sales nearly double what analysts forecast. Costco Wholesale and Gap Inc. each gained more than 4 percent. The Labor Department said that fewer people applied for unemployment benefits last week. At the market close, the Dow Jones industrial average is up 20 points, or 0.2 percent, to 12,062. The S&P 500 index is up 3, or 0.2 percent, to 1,307. The Nasdaq composite is up … ]]> Thu, 03 Feb 2011 15:40:15 -0600 <![CDATA[ Stocks mixed day after Dow tops 12,000 ]]> Lead story image

NEW YORK (AP) — Stocks were mixed Wednesday, a day after the Dow Jones industrial average closed at its highest level in two and a half years. “The market seems to be catching its breath after that strong run Tuesday,” said Alan Gayle, senior investment strategist for RidgeWorth Investments. In midday trading, the Dow index gained 2 points, or less than 0.1 percent, to 12,050. The broader Standard & Poor’s 500-stock index lost 2, or 0.2 percent, to 1,305. Eight of its 10 company groups fell. The Nasdaq composite lost less than a point and traded at 2,750. Time Warner … ]]> Wed, 02 Feb 2011 14:00:00 -0600 <![CDATA[ Earnings push stocks to 2 and half year highs ]]> Lead story image

Better than expected earnings reports and a lift in the manufacturing sector sent the stock market to two and half year highs Tuesday. ]]> Tue, 01 Feb 2011 12:43:07 -0600 <![CDATA[ Energy stocks push major indexes higher ]]>

NEW YORK (AP) — Energy companies drove major indexes higher Monday after Alpha Natural Resources made a bid for rival coal producer Massey Energy and Exxon Mobil reported strong earnings. Alpha offered $7.1 billion in cash and stock for Massey and the nation’s fourth-largest coal producer by revenue accepted it. That sent Massey’s stock up 11 percent in early trading, making it the best performer in the Standard & Poor’s 500 index. Other major coal companies, including Consol Energy Inc. and Peabody Energy Corp., rose by more than 2 percent. The Massey deal suggests “maybe coal isn’t dead,” said Kim … ]]> Mon, 31 Jan 2011 11:11:40 -0600 <![CDATA[ World markets sink as protests escalate in Egypt ]]>

Escalating protests in Egypt jarred world financial markets today. Stocks fell while the dollar, Treasurys and gold rose as investors sought to reduce their exposure to risk. The Egyptian government’s response to escalating street protests unnerved investors. The military was deployed in an effort to restore order and the headquarters of the ruling party was on fire. Thousands of people defied a curfew, and Internet and cell phone service has been cut off. Earlier, riot police fired tear gas, rubber bullets and used water cannons to disperse crowds that had gathered in the largest challenge to Egyptian president Hosni Mubarak’s … ]]> Fri, 28 Jan 2011 14:58:00 -0600 <![CDATA[ Stocks edge higher after mixed earnings reports ]]>

NEW YORK (AP) — A surprise jump in applications for unemployment benefits and mixed earnings from large U.S. companies kept stocks on a short leash Thursday. Indexes ended slightly higher, with the Standard & Poor’s 500 closing a half point below 1,300. The Dow Jones industrial average traded above 12,000 for most of the day but failed to close above that level for the second day in a row. The Dow hasn’t closed above 12,000 since June 19, 2008, just as the financial crisis was worsening. Procter & Gamble Co., the maker of consumer products like Tide detergent, fell 2.9 … ]]> Thu, 27 Jan 2011 16:21:51 -0600 <![CDATA[ Dow average falls back after hitting 12,000 ]]> Lead story image

The Dow Jones industrial average broke through 12,000 for the first time in two and a half years Wednesday, but a late fade kept it from closing above that level. The index of 30 prominent U.S. companies finished the day with a modest gain. Weak profit forecasts from Boeing Co. and Xerox Corp. weighed on the market. Boeing fell 3 percent after saying its 2011 profits would be hurt by production delays. Xerox fell 8 percent after saying its profit margins were not increasing. The Dow gained 8.25 points, or 0.1 percent, to end at 11,985.4. It reached as high as 12,020 in morning trading. The last time the Dow closed above 12,000 was June 19, 2008, just as the financial crisis was worsening. The Standard and Poor’s 500 index rose 5.45, or 0.4 percent, to 1,296.63. The Nasdaq composite index jumped 20.25, or 0.7 percent, to 2,739.50. Energy and materials companies gained more than 2 percent, the most among the 10 company groups that make up the S&P 500 index. Investors were pleased with President Barack Obama’s calls for lower tax rates on businesses during the State of the Union address late Tuesday, said Jack Ablin, chief investment officer at Harris Private Bank. “If he can take steps to simplify the tax codes, be it for individuals or corporations, I think it would be a lot easier to do business,” Ablin said. The Federal Reserve said Wednesday afternoon that it was not making any changes to its $600 billion bond-buying program. The plan is meant to encourage borrowing by keeping interest rates low. The Commerce Department said new home purchases rose 17.5 percent in December compared with November. Despite the strong one-month jump, new home sales for all of 2010 fell to the lowest level on records going back 47 years. Eastman Kodak Co. fell 18 percent. The company’s income fell 95 percent on weaker revenue from its camera business and lower royalties from digital imaging. The yield on the 10-year Treasury note rose to 3.41 percent from 3.34 percent. Two stocks rose for every one that fell on the New York Stock Exchange. Consolidated volume came to 4.8 billion shares. AP ]]> Mon, 28 Feb 2011 00:21:42 -0600 <![CDATA[ Stocks flat ending as earnings from blue chips disappoint ]]> Lead story image

NEW YORK (AP) — Stocks are ending flat after a round of disappointing corporate earnings and another drop in home prices. 3M and Johnson & Johnson fell about 2 percent after announcing lower income for the last quarter. Prices fell in 19 out of the 20 cities tracked by the Standard and Poor’s Case Shiller home price in November. At the market close, the Dow Jones industrial average is down 3 points, or less than 0.1 percent, to 11,977. The Dow had been down as many as 82 points earlier. The S&P 500 is up less than a point to … ]]> Tue, 25 Jan 2011 15:18:07 -0600 <![CDATA[ Intel, technology companies drive up stocks ]]> Lead story image

NEW YORK (AP) — Technology stocks rose Monday after Intel Corp. raised its quarterly dividend and said it would buy back more of its stock. The news sent Intel’s stock up 1.6 percent to $21.14. Another technology company, graphics chip maker Nvidia Corp., was the biggest gainer in the Standard & Poor’s 500 index. Nvidia rose 7 percent to $23.79 after Barrons magazine predicted its stock could rise 80 percent over the next year. The Dow Jones industrial average rose 24 points, or 0.2 percent, to 11,896 in morning trading. The Standard & Poor’s 500 index rose 1, or 0.1 … ]]> Mon, 24 Jan 2011 14:05:01 -0600 <![CDATA[ ]]>

… ]]> Fri, 21 Jan 2011 10:22:43 -0600