STOCKS RALLY, DOW MAKES RECORD HIGH: Here’s What You Need To Know – Yahoo Finance
A link has been sent. Done Stocks snap higher on Wall Street; Citigroup up By The Associated Press 23 hours ago 0 shares . View photo FILE – This July 15, 2013 file photo shows the New York Stock Exchange in New York. Stock futures are climbing on Monday, July 14, 2014, as investors look to shake off the worst week for the stock market in three months.
US stocks move higher on earnings reports; Time Warner soars on Murdoch bid | Fox Business
Stocks are higher on a busy day that has seen huge merger news and the second day of Federal Reserve Chair Janet Yellen visit speaking on Capitol Hill. The Dow up 62 points, the S&P 500 is up 7 points, and the Nasdaq is up 17 points. The biggest news of the day is Rupert Murdoch’s offer to buy Time Warner for $80 billion, which Time Warner rejected. Excluding food and energy, prices rose 0.2%. Homebuilder confidence in July rose to 53 from 49 , according to data from the NAHB, better than the 50 that was forecast by economists and the first reading above 50 since January. Industrial production data showed that in June, production slowed to 0.2% , below expectations for a gain of 0.3% and down from May’s revised reading of a 0.5% increase. CNBC is also hosting its Delivering Alpha conference today, featuring a number of noted hedge fund managers, including Leon Cooperman, who gave his 12 favorite stock picks , which included KKR, Citigroup, and Thermo Fisher. Our wall-to-wall coverage of Delivering Alpha will be on Clusterstock all day .
Market Update July 16 – Business Insider
The Standard & Poor’s 500 index rose nine points, or 0.5 percent, to 1,982. The Nasdaq rose 29 points, or 0.7 percent, to 4,445. Bond prices fell. The yield on the 10-year Treasury note rose to 2.56 percent. The second-largest U.S.
We expected a much bigger core number in the wake of the further increase in selling prices reported by the NFIB… The underlying economic story here, we think, is that firms are expecting to have to pay rather higher wages and are seeking offsetting prices increases.” 3) The National Association of Homebuilders reported that its homebuilder confidence index for July rose to 53 from 49 in June, topping expectations for the index to come in at 50. Following the report, NAHB Chief Economist David Crowe said, “As employment increases and those with jobs feel more secure about their own economic situation, they are more likely to feel comfortable about buying a home.” 4) In June, industrial production growth slowed to 0.2% from 0.4% in May, with the reading also coming in below the 0.3% growth that was expected by economists. Following the report, Michael Gapen at Barclays said, “Overall, and despite the slowdown in manufacturing production in June, manufacturing production in Q2 rose by 6.7% relative to Q1. The sharp rebound in manufacturing in February in March left the sector well positioned heading into Q2.
Closing Bell, July 16 – Business Insider
From the Beige Book,”The pace of economic growth was characterized as moderate in New York, Chicago, Minneapolis, Dallas, and San Francisco, while the remaining Districts reported modest expansion. Compared to the previous reporting period, Boston and Richmond noted a slightly slower pace of growth. Most Districts were optimistic about the outlook for growth.” In the Fed’s St. Louis district , The World Cup was cited as having had a positive impact during the survey period. 7) CNBC hosted its annual Delivering Alpha conference, which featured a number of the biggest hedge fund managers presenting their latest investment ideas and commentary on the markets.