Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	18169.68		-29.65	-0.16%
S& P 500	S& P 500 Index	2133.04		-6.39	-0.30%
NASDAQ	NASDAQ Composite	5215.97		-34.30	-0.65%

 

Stocks close lower after global bonds sell-off real estate slides 2%

U.S. equities closed lower on Thursday as investors parsed through a fresh batch of corporate earnings results and economic data, while sovereign bonds around the world fell.

The Dow Jones industrial average gyrated between gains and losses before closing about 30 points lower, with IBM contributing the most gains, offsetting losses in Boeing. The S & P 500 also held near the flatline for a large part of the session, before closing 0.3 percent lower , With telecoms advancing 1.6 percent to lead advancers and real estate falling 2.4 percent to lead decliners. The Nasdaq composite lagged, dropping 0.65 percent.

" I think you' re seeing a tug of war between earnings ... and rising yields. I think the rise in yields is a bit of a correction," said Jim Davis, regional investment manager for The Private Client Group of U.S. Bank.

In economic news, initial jobless claims fell 3,000 to 258,000, while durable goods for September unexpectedly fell. Pending home sales, meanwhile, rose 1.5 percent in September. The advanced read on third-quarter U.S. GDP is due Friday morning.

US economic data have been of special importance to investors recently, as they gauge the likelihood of the Federal Reserve raising rates later this year. The central bank is scheduled to meet next week and, while monetary policy is largely expected to remain unchanged, market participants Expect a quarter-point rate increase after the Fed' s December meeting.

European equities erased earlier gains, with the pan-European Stoxx 600 index falling 0.01 percent. In Asia, stocks closed mostly lower, with the Nikkei 225 slipping 0.32 percent and the Shanghai composite falling 0.13 percent.

Gold futures for December delivery rose $ 2.90 to settle at $ 1,269.50 per ounce.

Read more ...

Symbol	Name	Price		Change	%Change
DJIA	Dow Industrials	18199.33		30.06	0.17%
S& P 500	S& P 500 Index	2139.43		-3.73	-0.17%
NASDAQ	NASDAQ Composite	5250.27		-33.13	-0.63%

 

Dow closes higher as Boeing gains offset Apple' s fall financials lead

U.S. stock closed mostly lower on Wednesday as earnings season continued, while solid economic data helped financials and oil extended its losing streak despite bullish supply data.

The Dow Jones industrial average rose about 30 points after dropping 106.97 points at session lows, with Boeing contributions gains to the tune of 41 points, offsetting sharp losses in Apple, which took about 17 points off the index.

The S & P 500 momentarily eked above breakeven before closing approximately 0.15 percent lower, with real estate falling 1.3 percent to lead decliners while industrials and financials outperformed. The Nasdaq lagged, falling 0.63 percent as Apple shed about 2.25 percent.

U.S. crude settled 1.56 percent lower at $ 49.18 per barrel, after the Energy Information Administration reported a drawdown of nearly 600,000 barrels. WTI briefly traded higher following the EIA' s release, before retreating again.

" Despite all the rhetoric that' s coming out of OPEC, the fact of the matter is the [oil] market is rebalancing itself," said Peter Cardillo, chief market economist at First Standard Financial.

In economic news, the October services PMI index jumped to 54.8 from 52.3, while new home sales rose 3.1 percent in September. Mortgage applications fell 4.1 percent last week, despite lower mortgage rates.

While the central bank is not expected to make any changes to its monetary policy during that meeting, it is largely expected to raise interest rates in December.

Overseas, European equities were dragged lower by falling oil prices, with the pan-European Stoxx 600 index dropping 0.38 percent. In Asia-Pacific, stocks were lead lower by Australian shares, as the ASX 200 fell 1.53 percent.

Gold futures for December delivery fell $ 7 to settle at $ 1,266.60 per ounce.

Read more...