Stocks to Watch
MSN Money Insight
| Currency | US Dollar |
|---|---|
| British Pound to US Dollar | 1.568874 |
| Euro to US Dollar | 1.377790 |
| Japanese Yen to US Dollar | 0.011151 |
| Canadian Dollar to US Dollar | 0.936944 |
Market Update
Wall Street will look for quarterly results from Hewlett-Packard and Analog Devices today. Oil and gold are rising after Chicago Fed President Charles Evans expressed optimism about the economy.
By Sung Moss, TheStreet.com
Morning futures suggested a higher open for stocks Monday ahead of what's expected to be light trading for the week of Thanksgiving.
Futures for the S&P 500 rose 11.5 points to 1,101.6 and were 11.72 points above fair value. Futures for the Nasdaq climbed 17.75 points to 1,781.25, and were 17.36 points above fair value.
Chicago Fed President Charles Evans said in an interview in the Financial Times that he is optimistic that the economy is recovering. He expects the Federal Reserve to keep its key interest rate near zero until late 2010.
Sunday comments from a Federal Reserve official are weighing on the dollar this morning and influencing other asset classes. James Bullard, president of the Federal Reserve Bank of St. Louis, told Dow Jones Newswires the central bank should continue buying mortgage-backed securities after the program’s scheduled cut-off in the first quarter.
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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