Click for more market data.
NEW YORK (CNNMoney)
U.S. stocks gained in early trading following upbeat reports from blue-chip companies Coca-Cola (KO, Fortune 500) and Johnson & Johnson (JNJ, Fortune 500).
But the Dow Jones Industrial Average, S&P 500 and the Nasdaq were all in slightly negative territory by 10:30a.m. ET. Minutes later the Dow and S&P bounced back to gains.
Corporate earnings are in focus this week with nine Dow companies and 10% of the S&P 500 set to release first quarter results.
Overall, earnings in the quarter are expected to fall 1.6% versus last year, according to FactSet Research, although many of the early corporate reports have been better than expected, including Johnson & Johnson today and Citigroup yesterday.
Related: Things are looking up for Citigroup
Stocks have been choppy over the past few weeks as concerns about the true valuations of so called "momentum stocks," including many high-flying technology and biotech companies. But popular tech stocks like Facebook (FB, Fortune 500) and Twitter (TWTR) rebounded yesterday and are up today.
Google (GOOGL), however, is down today after announcing a major acquisition of drone maker Titan Aerospace.
Investors are looking to the latest corporate and economic reports to set the tone, said Art Hogan, chief market strategist for Wunderlich Securities.
"We're moving into the heart of earnings season now," he said."We've got a lot of financial reporting this week. The bars are set low enough that earnings expectations are in line with reality."
Related: Fear & Greed Index slides into extreme fear
Meanwhile, the yield on the 10-year Treasury note sank after the government released its monthly inflation report. The benchmark yield fell to 2.63% from 2.65% late Monday. Bond yields fall when prices rise.
The Consumer Price Index rose 0.2% in March, compared with the 0.1% rise economists had predicted. Excluding food and energy prices, the index increased 0.1%, matching expectations.
A measure of manufacturing activity in the New York area unexpectedly fell in April. The so called "empire index" fell to 1.3 this month, according to the Federal Reserve Bank of New York. Economists were expecting an increase.
U.S. stocks closed higher Monday after a choppy day of trading, snapping a two-day losing streak that roiled the markets. All three indexes are still down for the year.
Trading volume is expected to be light this week, with many market participants taking time off for the Passover holiday. U.S. markets will be dark on Friday in honor of Good Friday.
Related: CNNMoney's Tech30
European markets are down with tension in Ukraine weighing on sentiment. Germany continues to take the biggest hit as its economy has the closest ties to the tense region.
"Ukraine has the ability to disrupt the entire focus on this market if it escalates," said Hogan, though he said that Wall Street is more focused on earnings season for now.
Asian markets closed with mixed results.
First Published: April 15, 2014: 9:51 AM ET
Anda sedang membaca artikel tentang
Stocks: Trying to hold on to gains
Dengan url
https://kasiatbuatsehat.blogspot.com/2014/04/stocks-trying-to-hold-on-to-gains.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Stocks: Trying to hold on to gains
namun jangan lupa untuk meletakkan link
Stocks: Trying to hold on to gains
sebagai sumbernya
0 komentar:
Posting Komentar