Category: Stock Market News

​The S&P 500 finished at a new record high close on Friday with the broader market gaining for a fourth week in a row as stocks bounced back from Thursday’s correction. The S&P 500 index rose 10 points, or 0.5%, to end at 2,175 for a weekly gain of 0.6%. The Dow Jones Industrial Average gained 53 points, or 0.3%, to close at 18,570, adding 0.3% for the week. The Nasdaq Composite Index advanced 26 points, or 0.5%, to finish at 5,100, closing the week 1.4% higher.​

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

U.S. listed shares of German companies were little changed Friday, as the news of a terror attack in the city of Munich was breaking. The iShares MSCI Gernany ETF , an exchange-traded fund that tracks a broad index of German equities, was down 0.1% in late trade. Few individual American Depositary Receipts were moving, with Deutsche Bank quoted down 0.8% and Adidas down 0.5%. Software company SAP AG was up 0.3%. The Dax 30 Index closed earlier down 0.1%. The S&P 500 was up 0.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

WASHINGTON (MarketWatch) – President Barack Obama on Friday pledged to provide “all the support” that Germany may need in the wake of the Munich shooting spree. Obama said he was briefed on the shooting and that it was unclear what had happened. “It’s still an active situation,” the president said.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

The U.S. Consulate in Munich, Germany, is advising its citizens to stay home in response to a shooting incident that started at the Olympia Einkaufszentrum shopping center in the north part of the city. “We strongly advise all to shelter in place,” the consulate said in a post on Twitter. “Munich police are reporting multiple shooting incidents in the city.”

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Twitter Inc. was downgraded to market perform from outperform at Raymond James Friday. The downgrade came as the analysts said the “risk-reward is now more balanced” with shares near their “fair value case” of $19. The analysts added that they expect in-line revenues for the second quarter, but that Wall Street estimates for third-quarter revenue are too high, with Facebook Inc. and Instagram taking more of the social media share. The analysts also expect flat growth in monthly active users for the U.S. in the second quarter. That said, the analysts say Twitter could make more money from new ad products and use live streaming to bring in more users in the long-term. Shares of Twitter were down 1.5% Friday afternoon. The stock had tumbled 21% year to date, but has rallied 5.5% over the past three months while the S&P 500 has gained 3.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Gold futures settled lower on Friday to log a weekly loss of 0.3%, with strength in both the U.S. dollar and stock market dulling investment interest in the metal. August gold settled at $1,323.40 an ounce, down $7.60, or 0.6%, for the session. Prices fell 2.3% last week but posted gains in each of the previous six weeks.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Oil futures continue their decline Friday after after data from Baker Hughes revealed a weekly climb in the number of active U.S. rigs drilling for oil-the fourth increase in a row. The active U.S. oil-rig count rose 14 to 371 as of Friday. The total U.S. rig count climbed by 15 to 462. September crude was at $43.94 a barrel on the New York Mercantile Exchange, down 81 cents, or 1.8%, from Thursday’s settlement. It traded at $43.92 before the data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Shares of Facebook Inc. slid 0.8% in early trade Friday, after their recent run up to record highs prompted a ratings downgrade. Analyst Richard Greenfield cut his rating to neutral, after being at buy since October 2013. With the stock surpassing his price target of $117, Greenfield said he believes investor expectations are “simply too aggressive.” Greenfield remains bullish on the social network’s business, saying Facebook remains one of the only ways to play the shift of legacy media ad spending to mobile, and since its advertising growth rate remains “staggeringly” high. “However, investors expectations over the past year have risen dramatically and we now feel the bar is simply too high,” Greenfield wrote in a note to clients. The stock, which closed at a record of $121.92 on Wednesday, has climbed 14% year to date, while the S&P 500 has gained 5.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

U.S. stocks opened flat Friday, putting the main benchmarks on track to log their fourth straight weekly gain. A session earlier, the Dow industrials snapped a nine-session win streak — the index’s longest such streak since March 2013. On Friday, a barrage of earnings results drove individual stocks, while the broader market got a boost from better-than-expected earnings from companies like General Electric Co. , Whirlpool Corp. and Honeywell International Inc. . The Dow Jones Industrial Average added 10 points, or 0.1%, to 18,527, the S&P 500 index gained a point, or less than 0.1% at 2,166, while the Nasdaq Composite Index advanced 2 points, or less than 0.1%, to 5,076.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Skechers USA Inc. shares plunged 15% in premarket trade Friday, after the shoe maker’s disappointing second-quarter results prompted a ratings downgrade. Monness Crespi Hardt cut its rating to neutral from buy, citing concerns over the continued deceleration in domestic trends and less favorable valuation. Prior to results, which were reported late Thursday, the stock had climbed 6.5% year to date, while the S&P 500 had gained 5.9%. “Historically, the domestic business has been the leading indicator and international has followed,” Monness Crespi wrote in a note to clients. “As a results, we expect concerns about a potential slowdown overseas will continue to linger and weigh on the stock’s multiple.” Meanwhile, B. Riley analyst Jeff Van Sinderen kept his rating at buy, but cut his stock price target to $32 from $42,

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News