Category: Stock Market News

U.S. stocks closed down on Thursday but still had one of their best months since October as market sentiment stabilized on a more dovish Federal Reserve. The S&P 500 fell 4 points, or 0.2%, to close at 2,059 for the session and rallied 6.6% in March. The Dow Jones Industrial Average shed 31 points, or 0.2%, to finish at 17,684 for the day and gained 7.1% for the month. The Nasdaq closed up less than a point at 4,869 on Thursday for a monthly rise of 6.8%. For the quarter, the S&P 500 added 0.7% and the Dow advanced 1.5% while the Nasdaq dropped 2.8%.

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.

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From:: Stock Market News

U.S. stocks closed down on Thursday but still had one of their best months since October as market sentiment stabilized on a more dovish Federal Reserve. The S&P 500 fell 4 points, or 0.2%, to close at 2,059 for the session and rallied 6.6% in March. The Dow Jones Industrial Average shed 31 points, or 0.2%, to finish at 17,684 for the day and gained 7.1% for the month. The Nasdaq closed up less than a point at 4,869 on Thursday for a monthly rise of 6.8%. For the quarter, the S&P 500 added 0.7% and the Dow advanced 1.5% while the Nasdaq dropped 2.8%.

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.

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Oil futures finished the month on Thursday with a gain of more than 13%, with prices finding support from falling U.S. production and the prospect of a freeze in output by major producers. May WTI crude settled at $38.34 a barrel on the New York Mercantile Exchange, up 2 cents for the session. Prices gained about 13.5% for the month and 3.5% for the quarter, according to FactSet.

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.

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The Securities and Exchange Commission on Thursday settled charges with Navistar International Corp for allegedly misleading investors about its development of an advanced technology truck engine that could be certified to meet U.S. emission standards. The company agreed to pay a $7.5 million penalty without admitting or denying the charges. Separately, the SEC filed charges against former Navistar CEO Daniel C. Ustian for aiding and abetting the company in misleading investors in this matter. That action is pending. In a June 4, 2012 meeting, EPA staff told Navistar that it had serious concerns about its application for certification of the engine and the next day informed Navistar in writing that the engine as currently designed was “unlikely” to be certified. Despite this, Navistar’s June 2012 quarterly filing and conference call suggested that Navistar was unaware of any concerns by the EPA regarding the May 2012 application – one of several misstatements in the filing and call regarding the application.

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.

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Gold futures edged higher on Thursday to finish out the quarter more than 16% higher. The metal has benefited from the U.S. Federal Reserve’s dovish stance on monetary policy. June gold added $7, or 0.6%, to settle at $1,235.60 an ounce. For the quarter, prices climbed roughly 16.4%, according to FactSet, which was the largest quarterly gain since the third quarter of 1986. They ended the month less than 0.1% 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.

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Natural-gas futures turned lower on Thursday after the U.S. Energy Information Administration reported that supplies of the commodity fell by 25 billion cubic feet for the week ended March 25. Analysts polled by Platts forecast a decline of between 20 billion and 24 billion cubic feet. Some analysts, however, have said that the supply fall is likely to be the last one of the season. Total stocks now stand at 2.468 trillion cubic feet, up 1.002 trillion cubic feet from a year ago and 843 billion cubic feet above the five-year average, the government said. May natural gas was down 1.9 cents, or 1%, at $1.977 per million British thermal units. Prices traded $2.013 before the supply 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.

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Southwest Airlines Co. announced a partnership with ride-hailing app Lyft Thursday. With the partnership, first-time Lyft users who are already Southwest Airlines rewards members will earn 1,100 rapid rewards. The offer is available in 11 Southwest Airlines markets. Lyft competitor Uber announced a similar partnership with American Airlines last month, in which rewards members can receive a discount and set a reminder to book an Uber along with a flight.

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Fitbit Inc. reported Thursday that it has shipped more than one million of its new Fitbit Blaze devices, beating sales forecasts. This is the first month of retail availability for Fitbit Blaze, which is a fitness device with some of the capabilities of a smartwatch. The company also said it has sold more than one million Fitbit Alta devices, a new fitness tracker, since it began shipping March 9. Shares of Fitbit have fallen 55% in the past three months, though the stock has gained 10% in the past month. The S&P 500 has gained 1% in the past three months and 7% in the past month.

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.

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U.S. stocks opened little changed Thursday after three straight sessions of gains. A drop in oil prices weighed on the main benchmarks, while a report showed the number of Americans who applied for unemployment benefits rose to the highest level in two months. The S&P 500 opened one point lower at 2,063. The Dow Jones Industrial Average gained 10 points, or less than 0.1%, to 17,727. Meanwhile, the Nasdaq Composite began the day down 3 points, or less than 0.1%, at 4,867.

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Shares of Micron Technology Inc. fell more than 1% in premarket trade Thursday after the stock was downgraded to neutral from buy at Macquarie Research. The brokerage’s price target of $12 implies 14.5% upside to Wednesday’s closing price. While the stock has likely bottomed, said Macquarie, and the bank continues to believe the DRAM industry can sustainably generate “cross cyclical profitability,” it struggles to find “any meaningful catalysts” for the stock over the next several quarters. Shares of Micron have tumbled 26% over the last three months and 61% over the last year. The S&P 500, by comparison, is up 1% over the last three months and flat on the year. The average rating on the stock, according to a survey of nearly 20 analysts on FactSet, is the equivalent to buy, while the median price target is $14.59.

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.

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