Arab Today, arab today economic data earnings lift us stocks
Last Updated : GMT 10:09:25
Arab Today, arab today
Arab Today, arab today

Economic data, earnings lift US stocks

Arab Today, arab today

Arab Today, arab today Economic data, earnings lift US stocks

Traders work the floor of the New York Stock
New York - AFP

US stocks enjoyed a week of solid gains following a batch of good economic data and mostly strong corporate earnings as concerns about geopolitical hotspots ebbed somewhat.
For the week, the Dow Jones Industrial Average leaped 338.31 points (2.03 percent) to 17,001.22.
The broad-based S&P 500 advanced 33.34 (1.71 percent) to 1,988.40, while the tech-rich Nasdaq Composite Index jumped 73.62 (1.65 percent) to 4,538.55.
Worries over Ukraine geopolitics returned to markets Friday, when Russia sent a convoy of trucks into Ukraine without authorization. The action was condemned by Kiev and drew threats of fresh US sanctions.
But analysts said the market's overall upward bent this week showed worries had receded after violence in Iraq and tit-for-tat sanctions between the West and Russia over Ukraine had earlier triggered fears of economic havoc.
"The probability of either the Iraq situation or the Ukraine-Russia situation turning into something that's massively disruptive for the global economy is pretty small," said Scott Wren, senior equity strategist at Wells Fargo Advisors.
"The upward trend for the market has resumed," said David Levy, portfolio manager at Kenjol Capital Management. "Unless there is something new that frightens the market, then the bias is higher."
The week's economic data were generally strong. Highlights include a big pickup in existing-home sales, a jump in housing starts, lower unemployment claims, weak consumer inflation and a strong improvement in the Conference Board's index of leading economic indicators.
-Fed, retailers in focus-
Minutes from the Federal Reserve's July monetary policy meeting showed an intensifying debate on how much the labor market has tightened and how that would impact inflation and the timing of the Fed's plan to raise benchmark interest rates.
On Friday, Fed Chair Janet Yellen told a gathering of central bankers in Jackson Hole, Wyoming, that while there has been some improvement in the labor market, the US jobs market still has not fully recovered from the Great Recession.
Analysts said both the minutes and Yellen's speech suggested the US central bank had not accelerated its timeframe for raising benchmark interest rates, currently expected in the second half of 2015.
Earnings from retailers generally left investors pleased.
"People are feeling much better about retail going into the holidays in a few months and that's helping to support better market tone," said Michael James, managing director of equity trading at Wedbush Securities.
Standout reports came from Dow component Home Depot, which beat earnings expectations by a wide margin and raised its 2014 profit forecast, citing strong sales.
Other strong reports came from home-improvement retailer Lowe's, teen fashion house American Eagle, apparel chain Gap, sporting equipment retailer Dick's Sporting Goods and TJX, which owns apparel retailers Marshalls, TJ Maxx and other discount retail chains.
Target, which sells low-priced clothing, groceries, housewares and other goods, reported a nearly 62 percent decline in second-quarter earnings to $234 million. But some analysts were heartened by the discount chain's commentary that US sales had picked up in the latter part of the quarter.
Other major corporate news stories last week included Bank of America's nearly $17 billion settlement with the Justice Department and other authorities to resolve charges it misled investors on mortgage-linked securities.
Discount retailer Family Dollar rejected a $9.7 billion proposed takeover by Dollar General, citing concerns the tie-up could run afoul of US anti-monopoly rules. Family Dollar said it continued to endorse a $9.2 billion bid by Dollar Tree.
Hertz faced new scrutiny from activist investor Carl Icahn, who disclosed an 8.5 percent stake in the company and signaled plans to push for a shakeup at the slumping car-rental giant.
Analysts expect light trading volumes next week as many on Wall Street take vacation ahead of the Labor Day holiday on September 1.
But the calendar does include a handful of important economic reports, including the second estimate for second-quarter US economic growth, July durable goods orders and the Conference Board's reading of consumer confidence for August.

 

arabstoday
arabstoday

GMT 16:08 2017 Saturday ,14 October

US stocks rise on strong retail sales; Europe mixed

GMT 04:42 2017 Saturday ,14 October

Egyptian Bourse gains EGP 2.6 bn

GMT 04:32 2017 Saturday ,14 October

US stocks rise on strong retail sales; Europe mixed

GMT 20:52 2017 Thursday ,12 October

Egyptian Bourse loses EGP 3 bn

GMT 13:12 2017 Thursday ,12 October

Bahrain Bourse daily performance

GMT 11:06 2017 Thursday ,12 October

Wall Street ends at fresh records; Spanish stocks gain

GMT 21:13 2017 Wednesday ,11 October

Bahrain Bourse daily trading report (update)
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today economic data earnings lift us stocks Arab Today, arab today economic data earnings lift us stocks

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today economic data earnings lift us stocks Arab Today, arab today economic data earnings lift us stocks

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israeli court convicts Palestinians of 2016

GMT 04:39 2017 Tuesday ,17 October

Israeli court convicts Palestinians of 2016
Arab Today, arab today Iran's Facebook shuts down

GMT 23:50 2017 Monday ,16 October

Iran's Facebook shuts down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Anoshka happy for reactions to her talk show

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show
Arab Today, arab today India to close colonial-era military farms

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:55 2017 Thursday ,12 October

Safaa Sultan happy for “Love School”

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:02 2017 Saturday ,14 October

Conservation cutbacks put Brazil's

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:25 2017 Saturday ,14 October

Squeeze on UK health gives advanced

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday