NEW YORK (Reuters) – Normally a big decline would set up Wall Street for a technical rebound. But that may not be the case this week, even after the market posted its worst weekly loss for the year and the S&P fell for six straight sessions. With the corporate earnings season drawing to an end and recent U.S. economic data raising doubts about the pace of growth, the S&P 500, which is down …
NEW YORK (Reuters) – U.S. stocks fell on Friday after a sloppy debut by Facebook Inc spoiled hopes that a spectacular open for the most-anticipated stock sale in years would brighten the mood in what has been a gloomy month for equity markets. Shares of Facebook, the social networking giant, were volatile in the busiest day ever for a trading debut. After early gains of more than 10 percent, Facebook shares fell back …
NEW YORK (Reuters) – More volatility could be in store for stocks next week as investors grapple with less certainty about the economic outlook and a new blow to the financial sector after JPMorgan Chase‘s trading loss. Europe is expected to keep investors jumpy as well, with inconclusive results from the recent Greek election and the country’s future appearing more worrisome. The economic picture appears cloudy these days, with some data showing a …
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(Reuters) – General Electric Co topped Wall Street‘s profit and revenue forecasts for the first quarter, helped by strong demand for energy equipment and railroad locomotives. The largest U.S. conglomerate said on Friday industrial orders had risen 20 percent in the quarter and that selling prices had improved in most of its businesses. This should help Chief Executive Officer Jeff Immelt achieve his goal of boosting profit margins this year. “Global markets are …
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NEW YORK (AP) — He calls himself an “Apple fanboy,” owns four iPads and two iPhones, follows the company obsessively and predicts it will keep turning blockbuster profits. But whether you should own the stock is another matter. He says it’s just not worth it. No one is sure why Apple’s stock finally stopped rising last week, but you might point a finger at Walter Piecyk, a veteran analyst who apparently has uncanny …
NEW YORK (Reuters) – The Dow extended gains on Monday, up 1 percent by afternoon trade, buoyed by big consumer staples stocks as Wall Street turned defensive. The Dow Jones industrial average <.DJI> was up 131.96 points, or 1.01 percent, at 12,981.55. The Standard & Poor’s 500 Index <.SPX> was up 4.26 points, or 0.31 percent, at 1,374.52. The Nasdaq Composite Index <.IXIC> was down 16.36 points, or 0.54 percent, at 2,994.97. (Reporting …
NEW YORK (Reuters) – Stocks closed their strongest quarter in more than two years on a positive note on Friday, led by recently underperforming sectors, including energy and health care. Despite falling six out of the last nine sessions, the S&P 500 gained 12 percent in the first quarter, its best start of the year since 1998 and the best overall quarter since the third quarter of 2009. The broad-market average sits just …