Stocks mostly fell on Monday, weighed by profit taking after a two-month climb and news of several banks' share offerings that cooled interest in the financial sector.
Stock index futures pointed to a fall of about 1 percent at the open on Monday as investors paused after a strong run and several major banks said they will issue nearly $7 billion in new stock.
HSBC Holdings , Europe's biggest bank, said first-quarter profits were well ahead of last year, swelled by record results in its investment bank, but would have been down without accounting gains on its debt.
Stock index futures pointed to a lower open on Wall Street on Monday, with futures for the S&P 500 down 1.1 percent, Dow Jones futures down 1 percent and Nasdaq 100 futures down 1.5 percent, as investors were poised to book recent hefty gains.
U.S. stocks rose on Friday, and the Nasdaq capped its longest stretch of weekly gains in a decade as stress test results and reassuring jobs data fueled hopes the worst is over for banks and the economy.
U.S. stocks rose on Friday as results of bank stress tests fueled hopes that the worst is over for the financial sector, and news of fewer-than-expected April job cuts suggested the economic slump is moderating.
U.S. stocks jumped to session highs on Friday following a CNBC report that AT&T was near a $2.5 billion deal to buy most of Verizon's AllTel divestitures.
Stocks rose on Friday after the government's bank stress tests fueled hopes that the worst is over for the financial sector, while news of fewer-than-expected April job cuts suggested the economic slump was easing.
The Dow and S&P 500 rose on Friday after the government's stress tests results on big banks lifted optimism on financial stocks, and data showed employers cut a smaller-than-expected amount of jobs in April.
The Nasdaq briefly turned negative on Friday as a sell-off in the shares of chipmakers and other technology bellwethers, including Apple Inc , derailed an earlier advance.
Investment bank Morgan Stanley on Friday said it priced an offering of 146 million common shares at $24 each, raising a more-than-expected $3.5 billion in new equity but at a discount of nearly 12 percent to its Thursday closing price.
Betting against the latest upsurge in U.S. stocks is likely to be a losing proposition even for the balance of May, a month historically associated with the onset of a volatile period for equities.
AMG Data Services just announced that US junk bond funds saw an $822 million inflow this past week, a doubling of the $435 million inflow from a week earlier. Looks like the powers that be have created a literal junk vortex and institutions are jettisoning treasuries (look at clearing 30 Yr Yield for an indication of appetite) and gobbling up the bottom of the risk pile just as hedge funds are dumping. And, of course, everyone is ignoring that 20% of these names will be bankrupt by year end, unl...
NEW YORK, May 7 - Cablevision Systems Corp (CVC.N) floated a plan to spin off of its Madison Square Garden business, which includes its New York Knicks basketball team and Radio City Music Hall, and it posted a first-quarter profit.
Stocks slid on Thursday as investors booked profits in the hard-charging technology sector, while analyst downgrades hurt the telecom sector and a tepid response to a government bond auction undercut sentiment.
Tonight, instead of more charts that demonstrate an increasingly broken market, or links to mainstream media sources of exponentially diminishing value, I provide a selection
NEW YORK, May 7 - The Nasdaq turned lower on Thursday, and the Dow and the S&P 500 cut gains, as a sell-off in big-cap technology and telecommunications companies weighed.
Fed's bank results reassuring [and a joke at the same time], show no insolvency
Wal-Mart Stores Inc on Thursday reported a stronger-than-expected 5 percent rise in sales at U.S. stores open at least a year in April, helped by demand for Easter merchandise.
Stocks opened higher on Thursday as investors anticipated results of stress tests to show that most banks are healthier than previously thought.
U.S. stock index futures pointed to a higher open on Thursday as investors braced for results of the stress tests for banks, while strong earnings from Cisco may help boost the tech sector.
Shares are set for a mostly higher open on Thursday, ahead of the results of the stress tests for banks.
Network equipment maker Cisco Systems Inc posted a smaller-than-expected drop in quarterly profit due to cost cuts that helped offset lower revenue as companies reduced technology spending.
The Dow and S&P 500 rose on Wednesday, led by bank shares, after media reports suggesting some major banks, including JP Morgan Chase & Co , won't have to raise capital under government stress tests.
Stocks extended gains and the Nasdaq trimmed losses on Wednesday as financial shares gained a day before the release of stress test results while energy shares rose in sync with oil prices' 4 percent jump.
The Dow and S&P 500 gained on Wednesday on reassuring labor market data and Walt Disney's better-than-expected profit, while the Nasdaq dipped as investors took profits on Apple and other bellwether names.
The Nasdaq turned negative on Wednesday as investors rotated bets out of technology companies and into financials. The KBW Bank index jumped 7 percent.
By now, most smart money has typically pegged the US recovery in late 09, early 2010.
Stock index futures turned positive on Wednesday after better-than-expected data on private-sector employment.
Wall Street was set for a lower open on Wednesday on renewed concern about the health of banks after a source said government stress test results show Bank of America needs as much as $34 billion in capital.
