Category: Stock Market News

Shares of Comcast Corp. traded at an all-time high on Friday, as the company’s film arm Universal Pictures released “The Secret Life of Pets” in theaters. Comcast shares have gained about 6% over the last seven sessions. Along with some recent box office successes, including “The Secret Life of Pets,” which earned $5.3 million in early Thursday showings, Comcast agreed to a deal with Netflix Inc. earlier this week to host the streaming service on its proprietary X1 set-top boxes. Comcast shares are up more than 18% in the year to date, outperforming the S&P 500 Index, which is up nearly 4% this year.

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

Stocks rally Friday, pushing the three main stock-market gauges past the levels they enjoyed prior to a U.K. vote to exit the European Union, dubbed Brexit, took global markets on a roller-coaster ride. The Dow Jones Industrial Average surged 171 points, or 1%, to 18,068–57 points above its pre-Brexit levels. The S&P 500 index soared 21 points, or 1%, to 2,119, about 5 points better than its close prior to the Brexit fallout, and the Nasdaq Composite Index picked up 50 points, or 1%, to 4,926, 16 points more than its close the day before the closely watched U.K. referendum. On June 23, the U.K. voted to secede from the EU, which roiled markets world-wide on the following trading day, as investors stressed over the implications for the euro and the British pound , which touched a three-decade low against the dollar. Sparking Friday’s rally was a better-than-expected jobs report, which showed that the U.S. created 287,000 new jobs in June. The employment report offered a far better picture of the labor market and the overall economy than an earlier May reading, which indicated that only 38,000 jobs were created. Against that backdrop, investors are somewhat heartened that the U.S. economy may be on a better economic footing than its peers around the globe.

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 gun makers rallied in morning trade Friday, as the recent spate of shootings helped fuel expectations of increased gun-control rhetoric. Smith & Wesson Holding Corp.’s stock climbed 2.8%, but had been up as much as 5.2% at the intraday high of $29.75, which was above the March 17, 2016 record close of $29.37. The gains follow recent shootings in Baton Rouge, Minnesota and Dallas. Analysts have said regulatory fears are among the biggest drivers of consumer demand. Shares of Sturm Ruger & Co. ran up 4.2% and of Vista Outdoor Inc. rose 1.8%. Year to date, shares of Smith & Wesson have surged 32%, Sturm Ruger gained 13% and Vista Outdoor rose 12%, while the S&P 500 has advanced 3.6%.

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 higher Friday, after June’s official jobs report came in significantly above expectations, showing 287,000 jobs were created and offering reassurance that the economy has rebounded after a soft patch earlier in the year. A rise in oil prices also helped boost risk appetite. The Dow Jones Industrial Average added 126 points, or 0.7%, to 18,025, the S&P 500 index gained 14 points, or 0.7%, to 2,111, while the Nasdaq Composite Index added 28 points, or 0.6%, to 4,904.

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

Wells Fargo has lowered estimates on eight retailers it covers over concerns about U.K. exposure following the Brexit vote, the bank wrote in a Thursday note. Analysts lowered Fossil Group Inc.’s full-year 2016 earnings per share estimate to $2.07 from $2.15, and the full-year 2017 EPS estimate to $1.54 from $1.92 because “one-third of the company’s sales are generated in Europe, and we estimate that 30% of European revenue comes from the U.K.” Fossil shares are inactive in premarket trading, but down 59.3% for the past year. The other big move was Ralph Lauren Corp. . Wells Fargo lowered the luxury clothing and apparel retailer’s full-year 2016 EPS estimate to $5.29 from $5.52 and the full-year 2017 EPS estimate to $5.53 from $5.86. Bank analysts estimate that 20% of the company’s sales come from Europe with 40% of European revenue from the U.K. Ralph Lauren shares are inactive in premarket trading, but down 29.2% for the last 12 months. Other reductions were at Urban Outfitters Inc. , Sally Beauty Holdings Inc. , TJX Companies , Foot Locker Inc. , Signet Jewelers Ltd. and Michael Kors Holdings Ltd. . TJX (up 14.7%) and Michael Kors (up 17.7%) are the only stocks that have increased over the past 12 months. Signet Jewelers has seen the biggest decline in the past year (32.3%). The S&P 500 is up 2.5% over the last 12 months.

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

Both Hillary Clinton and Donald Trump cancelled campaign events in the wake of the shooting of Dallas police officers. Clinton was due to hold a joint event with Vice President Joe Biden in Scranton, Pa., and Trump was scheduled to have an event in Miami, Fla.

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. stock futures turned sharply higher early Friday after the closely watched jobs report showed that 287,000 jobs were created in June. Futures for the Dow Jones Industrial Average jumped 128 points, or 0.7%, to 17,937, those for the S&P 500 gained 15.25 points, or 0.7%, to 2,107, while the Nasdaq-100 futures rose 25 points, or 0.6%, to 4,477. The strength of the report helped to assuage investors’ concerns that the employment picture was dimming following a May report that showed that the U.S. created just 38,000 jobs. Economists polled by MarketWatch had forecast a 170,000 increase in new nonfarm jobs. More broadly, the report helps to allay some fears about the strength of the U.S. economy at a time when the U.K.’s decision to exit the European Union, dubbed Brexit, has roiled global markets.

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

Financial stocks surged in premarket trade Friday, after a much stronger-than-expected June jobs report boosted Treasury yields. The SPDR Financial Select Sector ETF shot up 1.6%, after being up just 0.6% just before the jobs data was released. Among the ETF’s most heavily-weighted banks, shares of Bank of America Corp. ran up 2.6%, after being up just 0.5% pre-jobs data. Shares of Citigroup Inc. climbed 2.2%, J.P. Morgan Chase jumped 1.9% and Wells Fargo & Co. rose 1.9%. The U.S. economy added 287,000 jobs in June, above expectations of an increase of 170,000. That helped push the yield on the 10-year Treasury note up to 1.41%, from 1.39% just prior to the release of the data. Higher long-term yields can act as a boon for bank profits, as they increase the spread between what banks earn by funding longer-term assets, such as loans, with shorter-term liabilities.

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

Treasury yields climbed Friday to their highest level in a week after the official jobs report for June beat expectations, marking the biggest increase in payrolls since last fall and offering reassurance that the economy has rebounded after a soft patch earlier in the year. The 10-year Treasury yield , the U.S. market’s benchmark, gained 2 basis points to 1.407%, its highest level in a week, while the yield on the 2-year note gained 3.6 basis points to 0.625%, according to Tradeweb.The 30-year yield rose 0.4 basis point to 2.146%. Yields rise when prices fall and a basis point is equal to one hundredth of a percentage point.

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 dollar soared Friday against its main rivals after a blockbuster June jobs number allayed concerns about a surprisingly weak reading in the prior month. The dollar jumped to 101.13 yen after the data, compared with 100.38 yen shortly beforehand. The euro fell to $1.1020, compared with $1.1078. The pound dropped to $1.2935, from $1.2972. The Labor Department said the U.S. economy created 287,000 nonfarm jobs in June, surpassing expectations for 170,000 new jobs from a survey of economists conducted by MarketWatch. Meanwhile, the Canadian dollar tumbled against its U.S. rival after a monthly report on the Canadian labor market showed a slower-than-expected rate of jobs growth. The loonie weakened to 76.63 cents after the data, compared with 76.90 shortly beforehand.

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