Join        Login             Stock Quote

Closing Update: Stocks Put Up Back-To-Back Gains But Nasdaq's 2.7% Drop Leads Weekly Declines

 March 18, 2011 04:19 PM

-NYSE up 51.16 (+0.6%) to 8,116.02 -DJIA up 83.93 (+0.7%) to 11,859

-S&P 500 up 5.48 (+0.43%) to 1,279

-Nasdaq up 7.62 (+0.3%) to 2,644


Hang Seng up 0.07%

Nikkei up 2.72%

FTSE up 0.64%


(-) NKE continues evening decline that followed earnings miss.

(-) AN downgraded.

(-) AEO downgraded.


(+) LO down as FDA weighs restrictions on menthol cigarettes.

(+) EL reaffirms earnings guidance that's below Street view.

(+) CRA sold to Quest Diagnostics for $8 a share.

(+) F initiated with Buy rating.

(+) RIMM initiated with Buy rating.

(+) GE finding some traction after early-week post-quake drop.


Stock averages end firmer though in the middle to lower end of the day's range. Weekly losses follow Japan's earthquake, one week ago today, and its nuclear aftermath. The Nasdaq ends down 2.7%; the S&P off 1.9%; the DJIA also lower.

Reports of the government's call for a ceasefire in Libya, gains for U.S. banking shares amid revived dividends and global help to cool the Japanese yen combined to lift stocks Friday. Stocks did give back some of their earlier gains in afternoon trading shortly after President Obama said the U.S. and some of its allies were prepared to launch military action in Libya if the fighting there doesn't cease.

Markets moved higher early on in response to Group of Seven action to curb a surging yen though Japan's nuclear risks remain in focus and the situation is still volatile. There were no U.S. economic reports scheduled.

Light, sweet crude oil for April delivery finished down 0.4%, or $0.35 to $101.07 a barrel. In other energy futures, heating oil was down 1.33% to $3.02 a gallon while natural gas was down 0.02% to $4.15 per million British thermal units. Meanwhile, gold futures rose on safe-haven investing despite positive developments in Libya. Gold for April delivery finished up 0.9% to $1,416.10 an ounce. In other metal futures, silver was up $2.43 to $35.09 a troy ounce while copper traded up 0.08% to $4.34.

The U.S. dollar index (DXY) is down 0.48% to $75.67.

JPMorgan Chase & Co (JPM), Wells Fargo & Co (WFC) and other major U.S. banks plan to boost their dividend payments after passing stress tests evaluated by the Federal Reserve, they announced today.

Next Page >>12


Comments Closed

rss feed

Latest Stories

article imageBogle Says Indexing Destined To Win The Battle Of The Quants

Vanguard founder John Bogle gave a powerful speech last month at the Q Group’s Spring Seminar that lays out read on...

article imageVMAX and VMIN Poised to Be Most Important VIX ETP Launch in Years

REX Shares is launching two new VIX exchange-traded products on Tuesday in what is likely to be the most read on...

article imageThe April 29 Gold Triangle Breakout Update

If you’re just watching stocks, you may be missing this powerful Triangle Breakout surge in read on...

article imageSell In May, But It Is A Presidential Election Year

With May just around the corner, articles covering the "Sell in May' phenomenon are not in short supply and read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.