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Although the Dow Jones Industrial Average and S&P 500 cling to positive territory, internal readings of the broader market of stocks have already turned negative. The number of declining stock outnumbered advancers by a 1,510-to-1,281 score on the NYSE and by a 1,406-to-1,278 margin on the Nasdaq exchange. Declining volume represented 53% of total volume on the Big Board and 48% of total volume on the Nasdaq. Meanwhile, the Dow was up 26 points, or 0.1%, with 16 of 30 components trading higher. The S&P 500 was up 0.1%, while the Nasdaq Composite eased 0.1%.

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From:: Stock Market News

General Electric Co.’s stock fell 1.2% in afternoon trade, reversing earlier gains of as much as 1.4%, to lead the losers among Dow Jones Industrial Average components. Volume was light, however, with the 18.1 million shares traded representing just 42% of the full-day average. And given GE’s stock is the lowest priced in the Dow, the 27-cent price decline was shaving just 2 points off the Dow’s price, which was up 19 points. Late Monday, GE disclosed in a filing with the Securities and Exchange Commission that Jeffrey Immelt, who retired as CEO on July 31, also retired as chairman on Monday, nearly three months earlier than originally planned. The company elected CEO John Flannery as chairman. When GE originally announced in June that Immelt was retiring, GE said he would retire as chairman effective Dec. 31. He decided to retire early because the CEO transition had “proceeded smoothly” and that Flannery was ready to succeed him as chairman. GE’s stock has tumbled 10.7% over the past three months, while the Dow has gained 5.5%.

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.

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The Dow Jones Industrial Average saw its gains firm on Wednesday after Secretary of State Rex Tillerson addressed reports that he was on the verge of leaving President Donald Trump’s administration and referred to POTUS as a “moron.” In a news conference at around 11 a.m. Eastern on Wednesday, Tillerson, a former head of Exxon Mobil Corp. , rebutted a report from NBC News, citing multiple senior administration officials, that claimed that he thought ill of the president and considered resigning. Tillerson reaffirmed his commitment to Trump in his conference, however, he didn’t appear to outright deny the claim that he called Trump a name, saying that it was “petty nonsense” to entertain those accusations. Most recently, the Dow was up 0.1% at 22,662, while the S&P 500 index was up about a point, or less than 0.1%, at 2,535, hitting an intraday record earlier. The Nasdaq Composite Index was trading 0.1% lower at 6,522. All three benchmarks closed at all-time highs on Tuesday and have been bolstered by hope that a pro-market tax proposal will be passed in Congress.

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

GoPro Inc. stock dropped suddenly Tuesday as Alphabet Inc.’s Google introduced a new clip-on, stand-alone camera that could challenge GoPro’s core hardware. Google Clips is a small camera that costs $249, while the new camera GoPro introduced last month starts at $499. GoPro shares dropped more than 5% in the minutes after Google introduced the new product, after previously being close to break-even on the day. Google also introduced new Home smart speakers and Pixel smartphones at the event in San Francisco.

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

Shares of Caterpillar Inc. climbed 1% toward a record in midday trade Wednesday, after some upbeat comments about used equipment pricing from the analyst who is the most bearish on the mining and farm equipment maker. The stock was the biggest percentage gainer within the Dow Jones Industrial Average , with the $1.19 price gain accounting for about 8 points of the Dow’s 35-point gain. Analyst Sameer Rathod at Macquarie Research said an analysis of used-equipment listings suggests the pace of price declines in September from a year ago has slowed from the previous month, and that inventory continues to decline, which indicates the U.S. earth-moving markets are recovering. This upbeat outlook comes despite Rathod having an underperform rating on the stock, and a price target of $86, which is 32% below current levels, and the lowest of the 24 analysts surveyed by FactSet. His bearishness stems from the believe that expectations are running ahead of fundamentals, as “all of the macro factors that allowed [Caterpillar] to have strong results have peaked.” Caterpillar’s stock has soared 18.4% over the past three months, while the Dow has gained 5.6%.

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.

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From:: Stock Market News

The Dow Jones Industrial Average saw its gains firm on Wednesday after Secretary of State Rex Tillerson addressed reports that he was on the verge of leaving President Donald Trump’s administration and referred to POTUS as a “moron.” In a news conference at around 11 a.m. Eastern on Wednesday, Tillerson, a former head of Exxon Mobil Corp. , rebutted a report from NBC News, citing multiple senior administration officials, that claimed that he thought ill of the president and considered resigning. Tillerson reaffirmed his commitment to Trump in his conference, however, he didn’t appear to outright deny the claim that he called Trump a name, saying that it was “petty nonsense” to entertain those accusations. Most recently, the Dow was up 0.2% at 22,674, adding to the earlier advance, while the S&P 500 index was up 6 points, or 0.2%, at 2,540, hitting an intraday record. The Nasdaq Composite Index was trading 0.2% higher, paring a morning loss, to 6,544. All three benchmarks closed at all-time highs on Tuesday and have been bolstered by hope that a pro-market tax proposal will be passed in Congress.

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

The Dow Jones Industrial Average saw its gains firm slightly late-morning Wednesday after Secretary of State Rex Tillerson addressed reports that he was on the verge of leaving President Donald Trump’s administration and referred to POTUS as a “moron.” In a news conference at around 11 a.m. Eastern on Wednesday, Tillerson, a former head of Exxon Mobil Corp. , rebutted a report from NBC News, citing multiple senior administration officials, that claimed that he thought ill of the president and considered resigning. Tillerson reaffirmed his commitment to Trump in his conference, however, he didn’t appear to outright deny the claim that he called Trump a name, saying that it was “petty nonsense” to entertain those accusations. Most recently, the Dow was up 0.1% at 22,671, adding to the earlier advance, while the S&P 500 index was trading a touch higher at 2,537. The Nasdaq Composite Index was trading 0.1% higher, paring a morning loss, and was most recently at 6,536. All three benchmarks closed at all-time highs on Tuesday and have been bolstered by hope that a pro-market tax proposal will be passed in Congress.

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

Ford Motor Co.’s plan detailing future initiatives was “very light on details,” analysts at Morgan Stanley said in a note Wednesday. Ford late Tuesday disclosed a goal to cut expenses and push for electric cars, and trucks and SUVs. “We got the impression that Ford wanted to convey extremely high-level strategic objectives … but is still working through the alternatives and has not yet achieved enough solidity on key partnerships to disclose anything significant,” the analysts said. Ford shares rose 0.6%.

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.

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From:: Stock Market News

Data from the U.S. Energy Information Administration Wednesday showed that domestic crude supplies fell by 6 million barrels for the week ended Sept. 29. That’s well above the forecast for a decline of 1.5 million barrels by analysts surveyed by S&P Global Platts. The American Petroleum Institute had reported late Tuesday a decrease of 4.1 million barrels, according to sources. Gasoline stockpiles were up 1.6 million barrels for the week, while distillate stockpiles fell 2.6 million barrels, according to the EIA. November crude rose 23 cents, or 0.5%, to $50.65 a barrel on the New York Mercantile Exchange. Prices traded at $50.25 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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From:: Stock Market News