Stocks to Watch
MSN Money Insight
| Currency | US Dollar |
|---|---|
| British Pound to US Dollar | 1.569366 |
| Euro to US Dollar | 1.377790 |
| Japanese Yen to US Dollar | 0.011148 |
| Canadian Dollar to US Dollar | 0.937383 |
Market Update
Economists expect the number of first-time applicants for unemployment benefits to be unchanged from the previous week. Sears, Dell and Gap are scheduled to report quarterly results.
By Sung Moss, TheStreet.com
Stock futures pointed toward a lower open for stocks on Thursday, after declines overseas and before the release of data on weekly U.S. jobless claims.
Futures for the S&P 500 declined 9.3 points to 1,099.2, and were 8.9 points below fair value. Futures for the Nasdaq fell 13.5 points to 1,787, and were 14.24 points below fair value.
On Wednesday, major indices closed modestly lower on disappointing data on new-home construction. Technology, which led yesterday’s decline, will be in focus on Thursday, with Dell reporting earnings after the closing bell.
Overseas, Hong Kong’s Hang Seng dropped 0.9% and Japan’s Nikkei dipped 1.3%. The FTSE in London fell 0.3%, as the DAX in Frankfurt slid 0.4%.
The index rebounds back above 10,000 as material and energy stocks gain. Investors bet that the European Central Bank's president has a plan to address Greece's debt.
By Sung Moss, TheStreet
Updated at 4:56 p.m. ET
Stocks surged Tuesday, lifted by gains in basic materials and energy companies, and by reports that a rescue plan is in the works for debt-wracked Greece.
The Dow Jones Industrial Average ($INDU) gained 150 points, or 1.5%, to 10,059. The S&P 500 Index ($INX) rose 14 points, or 1.3%, to 1,071. The Nasdaq ($COMPX) was up 25 points, 1.2%, to 2,151.
European Central Bank President Jean-Claude Trichet left a meeting in Australia early to return to Europe, fueling speculation that he has a plan to address debt in Greece. He will attend a special EU Summit in Brussels, Belgium, Thursday.
The blue-chip average closes below 10,000 for the first time since early November. Wall Street turns bearish amid concerns about European deficits.
By Sung Moss, TheStreet
The Dow closed below 10,000 for the first time since early November after concerns about deficits in European weighed on Wall Street.
The Dow Jones Industrial Average fell 104 points, or 1%, to 9,908. The S&P 500 dropped 9 points, or 0.9%, to 1,057, and the Nasdaq was down 15 points, or 0.7%, at 2,126.
“The shadow cast over markets by European sovereign risk is unlikely to lift soon," said UBS economist Larry Hatheway.
Shares of both stocks jump on the results.
Toy maker Hasbro (HAS) this morning reported a 77% jump in fourth-quarter net income.
The company earned $165.6 million, or $1.09 per share, up from $93.6 million, or 62 cents per share, in the year-ago period. Sales rose to $1.38 billion from $1.23 billion.
Analysts were looking for earnings of 81 cents per share on sales of $1.34 billion. Shares surged $4.17, or 13.5%, to $34.97.
Fallout from European sovereign debt persists. Bank stocks are hit. Home Depot, CVS Caremark top earnings expectations.
Updated at 4:00 p.m. ET
Markets were torn today between lingering concerns about European sovereign debt and positive earnings news in the United States.
Bank stocks were hit by worries that banks might be forced to raise capital in response to deficits in Greece, Portugal, Spain and other European nations, as well as continued uncertainty about regulatory reform in the United States.
Major market indexes were stuck in a tight range this afternoon as investors continue grappling with the question of whether a global economic recovery is sustainable.
At 4:00 p.m. ET, the Dow Jones Industrial Average ($INDU) was down 104 points at 9,908. The Nasdaq Composite Index ($COMPX) had shed 15 points to 2,126, and the Standard & Poor's 500 Index ($INX) was down more than 9 points to 1,056.
Leaders from Group of Seven nations meet to allay investors' concerns about sovereign debt in Europe. Oil and gold prices climb as the dollar loses value.
By Melinda Peer, TheStreet
(Updated at 8:45 a.m. EST) Stock futures wavered on Monday as concerns about European sovereign debt weighed on investors.
Futures for the S&P 500 were rising by 0.8 points at 1,060.6 and were 2.49 points below fair value. Futures for the Nasdaq were up 0.75 points and were 1.13 points above fair value.
Over the weekend, leaders from the Group of Seven met to allay fears about European debt levels. U.S. Treasury Secretary Timothy Geithner assured investors that the U.S. will “never lose” its AAA credit rating.
StockScouter data provided by Gradient Analytics, Inc.
Quotes supplied by Interactive Data.
MSN Money's editorial goal is to provide a forum for personal finance and investment ideas. Our articles, columns, message board posts and other features should not be construed as investment advice, nor does their appearance imply an endorsement by Microsoft of any specific security or trading strategy. An investor's best course of action must be based on individual circumstances.
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