31 Dec
Media Quotes

CNBC: Stocks pare losses; S&P 500 tries to hold green for 2015

Thursday, Dec 31, 2015 12:33pm EST
U.S. stocks traded lower Thursday, the last day of trade for 2015, as investors eyed oil prices.
The Dow Jones industrial average traded about 30 points lower after briefly falling 150 points in morning trade as all constituents declined.
The S&P 500 struggled to hold positive territory for 2015 in intraday trade. Energy recovered and attempted to hold higher as oil tried to stabilize near multi-year lows.
“I think the big moves have already been made and investors are now positioning for next year,” said Adam Sarhan, CEO of Sarhan Capital, noting focus for traders Thursday is likely around the week-to-date, quarter-to-date and year-to-date levels.
With Thursday morning’s decline, the major U.S. averages are on track to end the week little changed, but up at least 7 percent each for the quarter.
The key concern for the day will be whether the S&P 500 manages close higher for 2015, after three-straight years of double-digit gains.
As of Wednesday’s close, the S&P 500 was up 0.22 percent year-to-date and the Nasdaq composite was up 6.96 percent for the year so far. The Dow Jones industrial average was down 1.23 percent for 2015.
Trade volume so far this week has been among the lowest of the year, and will likely remain thin Thursday ahead of Wall Street’s closure on Friday for the New Year’s Day holiday.
“Probably more urgency to sell than to buy. That’s why we’re down,” said James Meyer, chief investment officer at Tower Bridge Advisors.
“It’s a day of portfolio adjustments. I think you’re going to find some people taking some money off the table and switching to more conservative (assets). So bonds are up and stocks are down,” he said.
Despite a volatile year that saw the major U.S. averages plunge more than 10 percent, the indexes are within 5 percent of their record intraday highs and on pace to end the year little changed to slightly higher.
With the Federal Reserve’s first rate hike out of the way and little economic news in the last two holiday-shortened trading weeks, stock market action has been tightly correlated to moves in oil and other commodities.
Oil held higher in intraday trade but remained near seven-year lows.
Brent and U.S. West Texas Intermediate (WTI) crude reversed earlier declines to trade about 2 percent higher or more above $37 a barrel in late-morning trade.
U.S. crude oil fell more than 3 percent Wednesday to settle below $37 a barrel, contributing to the Dow Jones industrial average’s decline of about 117 points Wednesday.
Natural gas traded about 7 percent higher. Inventories showed a decline of 58 billion cubic feet in the week ended Dec. 25, according to StreetAccount.
In a light day of economic news, the Chicago Purchasing Managers’ Index (PMI) came in at 42.9 for December.
Weekly jobless claims came in at 287,000, up from 267,000 the week before.
Treasury yields held lower, with the 2-year yield around 1.05 percent and the 10-year yield near 2.29 percent as of 12:20 p.m., ET.
The U.S. dollar traded higher against major world currencies, with the euro falling below $1.09.
In mid-morning trade, the Dow Jones industrial average declined 148 points, or 0.84 percent, to 17,455, with Apple, Coca-Cola and Microsoftleading all constituents lower.
The S&P 500 declined 17 points, or 0.81 percent, to 2,046, with information technology leading nine sectors lower and energy the only advancer.
The Nasdaq composite declined 43 points, or 0.84 percent, to 5,023.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 18.
About two stocks declined for every advancer on the New York Stock Exchange, with an exchange volume of 118 million and a composite volume of about 477 million.
Crude oil futures for February delivery gained 7 cents to $36.66 a barrel on the New York Mercantile Exchange.
Gold futures for February delivery gained $1.40 to $1,061.20 an ounce as of 10:44 a.m., ET.
LINK: http://www.cnbc.com/2015/12/31/us-markets.html
31 Dec
Media Quotes

Reuters: S&P 500 slips back into the red for the year

Markets | Thu Dec 31, 2015 11:40am EST
Wall Street was lower on Thursday, with the S&P 500 set to end the year with a small loss as energy stocks took a hit from a plunge in crude oil.
Trading volumes are expected to be thin on the last day of the year, with traders closing off their positions.
The rout in commodities has sent markets across the world reeling as oil prices floundered under an unprecedented global glut that may take another year to clear. [O/R]
The S&P 500 was down 0.53 percent for the year, while the Dow Jones industrial average was down 2 percent. Only the Nasdaq Composite was in positive turf, having risen 6.2 percent.
“As we close out of the year, it’s been a tale of two tapes, with narrow leadership holding up the major indices, while the vast majority of the market continues to underperform,” said Adam Sarhan, chief executive of Sarhan Capital in New York.
“The big story today as investors wrap up the year is that after all that’s said and done, it’s a flat year for the S&P 500,” Sarhan said.
The consumer discretionary sector .SPLRCD has been the best performer on the S&P, rising 8.89 percent in 2015, led by Netflix’s (NFLX.O) 137 percent increase and Amazon’s (AMZN.O) 120 percent gain.
The top three performers on the Dow are also consumer stocks, led by Nike’s (NKE.N) 31 percent rise.
The S&P energy sector .SPNY, on the other hand, lost nearly 24 percent, followed by a near 10 percent loss in materials .SPLRCM.
Eight of the 10 worst performers on the S&P this year are energy companies, led by Chesapeake Energy’s (CHK.N) 78 percent decline.
At 11:01 a.m. ET, the Dow Jones industrial average .DJI was down 122.21 points, or 0.69 percent, at 17,481.66, the S&P 500 .SPX was down 12.74 points, or 0.62 percent, at 2,050.62 and the Nasdaq Composite index .IXIC was down 32.30 points, or 0.64 percent, at 5,033.55.
All 10 major S&P sectors were lower, led by the 1.53 percent fall in the utilities sector .SPLRCU.
Apple (AAPL.O) was down 1.4 percent at $105.81 and was the biggest drag on the S&P and Nasdaq. Boeing (BA.N) was down 1.3 percent at $144.64 and weighed the most on the Dow.
Declining issues outnumbered advancing ones on the NYSE by 1,847 to 1,054. On the Nasdaq, 1,697 issues fell and 1,008 rose.
The S&P 500 index showed no new 52-week highs and two new lows, while the Nasdaq recorded 15 new highs and 41 new lows.
LINK: http://www.reuters.com/article/us-usa-stocks-idUSKBN0UE0TS20151231

28 Dec
Media Quotes

Reuters: Wall Street set to open lower as crude oil slips

Markets | Mon Dec 28, 2015 8:53am EST
U.S. stock indexes were set to open lower on the first day of the last trading week of the year as oil prices continued to fall due to oversupply.
Brent crude was down 2.4 percent and were hovering near 11-year lows. Exxon’s shares were down 1.5 percent at $78.14, while Chevron was down 1.7 percent at $90.47 in premarket trading.
“The 3 percent dive in crude oil this morning shows you that the sellers are still in control of the energy market and that’s leading jitters on Wall Street, coupled with just normal digestive action after last week’s strong gains,” said Adam Sarhan, chief executive of Sarhan Capital.
All three indexes posted their best weeks since mid-November last week, rising about 2.5 percent, led by a surge in energy stocks.
The S&P 500 is on track to end the year in the black, rising a marginal 0.1 percent so far in 2015, while the Nasdaq Composite is up 6.6 percent. The Dow Jones industrial average is down 1.5 percent.
At 8:25 a.m. ET (1325 GMT), Dow e-minis were down 83 points, or 0.48 percent, with 13,807 contracts changing hands. S&P 500 e-minis were down 9 points, or 0.44 percent, with 69,777 contracts traded. Nasdaq 100 e-minis were down 12 points, or 0.26 percent, on 12,490 contracts.
Trading volumes are expected to remain subdued through the week.
Global stocks ticked lower on Monday over fresh worries about Chinese growth after data showed profits at industrial companies in the world’s second-largest economy fell in November for the sixth month in a row.
The London Stock Exchange was closed on Monday for Boxing Day.
Valeant was down 7.1 percent at $106.30 after the Canadian drugmaker said Chief Executive Michael Pearson is going on medical leave.
Fitbit was up 4.8 percent at $30.30.
Apple was down half a percent at $107.50.
LINK: http://www.reuters.com/article/us-usa-stocks-idUSKBN0UB0YH20151228

24 Dec
Media Quotes

CNBC: Nasdaq struggles for gains; energy weighs

Thursday, December 24, 2015
U.S. stocks traded mostly lower in the shortened Thursday session, amid a continued recovery in oil prices, following three solid days of gains.
“I think the big news of the week is Santa Claus has come to Wall Street early and brought us to break-even levels for the year,” said Adam Sarhan, CEO of Sarhan Capital.
“The question is whether that rally, led by some recovery in beaten-down areas of the market, will continue.”
Energy held about 1 percent lower in morning trade, struggling to hold Wednesday’s week-to-date gains of more than 5 percent. The sector is still more than 20 percent lower for the year so far as the worst performer in the S&P 500.
The S&P struggled to hold gains for 2015 after closing in the green for the year Wednesday.
Exxon Mobil and Chevron both declined more than 1 percent to weigh on the Dow Jones industrial average.
Oil remained near multi-year lows, but extended recent gains. WTI was briefly above $38 a barrel, remaining at a premium to Brent, which traded near $37.66 a barrel as of 9:49 a.m. Natural gas inventories are due later in the morning.
“I think a lot of people were short coming into this week. (They’re) positioning before the end of the year,” Sarhan said. “Investors are looking for the next bullish catalyst out there.”
The stock market closes at 1 p.m., ET, for Christmas Eve and remains closed Friday for Christmas Day. Oil settles early at 1:30 p.m., and the bond market closes at 2 p.m.
The Nasdaq composite attempted to hold higher as semiconductor stocks and biotech stocks gained.
“I think today’s really about retail. It’s really the last day for (investors) to focus on the Christmas season,” said JJ Kinahan, chief strategist at TD Ameritrade. He noted unseasonably warm weather in most of the United States may encourage more shopping on Dec. 26, a day he said has recently become more important for retail.
The SPDR S&P Retail ETF (XRT) was off nearly 1 percent in mid-morning trade.
In economic news, weekly jobless claims came in at 267,000.
Treasury yields traded mixed, with the 2-year yield above 1 percent and the 10-year yield a touch lower near 2.25 percent.
The U.S. dollar index was about 0.4 percent lower against major world currencies, with the euro near $1.095 and the yen at 120.33 yen against the greenback as of 10:12 a.m., ET.
The major averages closed higher Wednesday, on track for weekly gains of more than 2.5 percent.
As of Wednesday’s close, the S&P 500 was barely higher for the year so far, while the Nasdaq composite was up about 6.5 percent year-to-date. The Dow Jones industrial average was more than 1 percent lower for 2015.
In corporate news, Nike‘s 2-for-1 stock split took effect Thursday.
Read MoreEarly movers: PEP, NKE, BBY, JCP, H, NFLX, GMCR & more
In mid-morning trade, the Dow Jones industrial average traded down 52 points, or 0.30 percent, at 17,549, with Walt Disney leading advancers and Nike the greatest laggard.
The S&P 500 traded down 5 points, or 0.24 percent, at 2,059, with energy leading nine sectors lower and health care the only advancer.
The Nasdaq composite traded down 1 point, or 0.02 percent, at 5,044.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 15.5.
About five stocks declined for every four advancers on the New York Stock Exchange, with an exchange volume of 85 million and a composite volume of 321 million in mid-morning trade.
Crude oil futures for February delivery rose 33 cents to $37.83 a barrel on the New York Mercantile Exchange. Gold futures for February delivery added $6.20 to $1,074.50 an ounce as of 10:11 a.m., ET.
On tap this week:
Thursday
Stock market closes at 1 p.m.
10:30 a.m.: Natural gas inventories
Friday
Christmas Day holiday
Markets closed
 
Link; http://www.cnbc.com/2015/12/24/us-markets.html
21 Dec
Media Quotes

CNBC: Stocks close higher as Street attempts rally amid low oil

U.S. stocks traded mostly higher Monday, attempting to recover from a sharp sell-off last week, as investors eyed low oil prices in a shortened trading week.
 
“This time of the year is notorious for rallying. You might get some squaring of positions here that has little to do with oil prices,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott. “With slippage again in oil prices, investors are looking through that a little bit and not taking it as a sign of global economic (weakness). … It may be a one-day wonder.”
The Dow tried to hold gains of about 60 points after briefly dipping into negative territory, following a rise of nearly 144 points in the open.Goldman Sachs was among the top contributors to gains, while Chevron and Exxon Mobil declined.
“I think it’s really just a test to see if the equity market can advance in the backdrop of low energy prices,” said Jack Ablin, chief investment officer at BMO Private Bank.
Energy traded lower after earlier trying to shake off pressure from oil’s continued decline. Energy is down more than 20 percent year-to-date as the worst S&P performer.
Shares of Chipotle traded more than 3 percent lower to weigh on the consumer discretionary sector. The stock briefly plunged 6 percent to hit a fresh 52-week low after news the CDC is investigating another outbreak of a different E. coli strain at Chipotle.
WTI crude futures for January delivery settled up 1 cent at $34.74 a barrel after earlier dipping to $34.12, a fresh near-seven-year low. The contract expired Monday.
The February contract did not touch new lows, and settled down 25 cents at $35.81.
“It’s not like oil is directly responsible for why stocks dropped last week. The market is clearly concerned about global economic fundamentals,” said Pavel Molchanov, energy analyst at Raymond James. He expects oil to recover to around $60 a barrel in the second half of next year.
Brent hit $36.05 a barrel in early morning trade, its lowest since July 2004, and continued to trade just above that level.
The Dow transports held slightly higher with airlines leading advancers.
“This could be a dead cat bounce after the action on Friday. You could see some seasonality push it higher. … It all depends if we can hold that low from Friday,” said John Caruso, senior market strategist at RJO Futures.
U.S. stocks closed sharply lower Friday near session lows, wiping out gains for last week, as investors weighed low oil and economic data in the aftermath of the Federal Reserve’s rate hike Wednesday. Options expiration also contributed to volatility, with trade volume the second-highest of the year.
Both the S&P 500 and Dow Jones industrial average are still negative year-to-date, down more than 1.5 percent and 3 percent, respectively.
U.S. equities tried to kick off the shortened holiday week with gains. The U.S. stock market closes early Thursday, Christmas Eve, and is shut on Friday for Christmas Day.
“To me this just has to do with end of the year. Normal seasonal bounce. We’ll see if it can last,” said Adam Sarhan, CEO of Sarhan Capital.
“The market’s oversold. It’s overdue for a bounce. I think it’s more of a rotation going on underneath the surface because leadership is very narrow,” he said.
Analysts also noted some support from the weaker U.S. dollar, which traded slightly lower against major world currencies, with the euro above $1.09. The yen was near 121.08 yen against the greenback as of 3:34 p.m., ET.
Earlier, the U.S. dollar index extended losses after the Chicago Fed National Activity Index showed a decline to minus 0.30 in November from minus 0.17 in October.
No other major economic data was due Monday, while third-quarter GDP is expected Tuesday and personal income data is due Wednesday.
Treasury yields held lower, with the 2-year yield near 0.93 percent and the 10-year yield around 2.19 percent in afternoon trade.
“Even though the (Federal Reserve) did move off the zero bound, it did so in light of an economy that shows little signs of accelerating,” Luschini said.
“On balance the Fed is unwilling to be as aggressive despite what their own dot plot would suggest,” he said.
Atlanta Fed President Dennis Lockhart said Monday the Federal Reserve’s promise of gradual rate hikes in coming months means the central bank will not raise rates at every meeting, according to a WABE radio report cited by Reuters.
Lockhart will not be part of the Federal Open Market Committee in 2016.
In afternoon trade, the Dow Jones industrial average traded up 35 points, or 0.21 percent, at 17,164, with JPMorgan Chase leading advancers and Walt Disney the greatest laggard.
The S&P 500 traded up 5 points, or 0.24 percent, at 2,010, with telecommunications leading seven sectors higher and energy leading decliners.
The Nasdaq composite gained 18 points, or 0.36 percent, at 4,941.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded below 20.
Advancers were a step ahead of decliners on the New York Stock Exchange, with an exchange volume of 589 million and a composite volume of nearly 2.9 billion.
Read MoreEarly movers: DIS, AAPL, ERIC, TIF, BXLT, JOY, MTU, SYT, GE & more
Gold futures for February delivery settled up $15.60 at $1,080.60 an ounce.
On tap this week:
Tuesday
8:30 a.m.: GDP Q3
9 a.m.: FHFA home prices
10 a.m.: Existing home sales
Wednesday
7 a.m.: Mortgage applications
8:30 a.m.: Durable goods
8:30 a.m.: Personal income
10 a.m.: New home sales
10 a.m.: Consumer sentiment
11 a.m.: Oil inventories
Thursday
Stock market closes at 1 p.m.
8:30 a.m.: Initial claims
10:30 a.m.: Natural gas inventories
Friday
Christmas Day holiday
Markets closed
*Planner subject to change.

LINK: http://www.cnbc.com/2015/12/21/stocks-off-session-highs-energy-lags.html

21 Dec
Media Quotes

Reuters: Wall Street higher on financials; Brent slides

Markets | Mon Dec 21, 2015 11:42am EST
Financial stocks led a cheerful start to the Christmas holiday week for the U.S. stock markets, rebounding from two days of losses, with investors taking in stride a slide in crude prices.
Trading volumes are expected to be relatively light this week, with stock markets operating a shortened session on Thursday and closing on Friday for Christmas.
U.S. stock indexes slumped on Thursday and Friday as weak crude prices dampened the optimism sparked by the first Federal Reserve interest rate hike in nearly a decade.
Oil prices have been sliding under continued pressure from global oversupply and tepid demand. [O/R]
“It’s going to be interesting to see if this market can hold up and divorce itself, at least for today, from the price of oil,” said Peter Cardillo, chief market economist at First Standard Financial in New York.
“We’re probably going to stay in the trading range, with an upward bias.”
At 11:03 a.m. ET (1603 GMT), the Dow Jones industrial average .DJI was up 85.25 points, or 0.5 percent, at 17,213.8, the S&P 500 .SPX was up 12.3 points, or 0.61 percent, at 2,017.85 and the Nasdaq Composite index .IXIC was up 33.26 points, or 0.68 percent, at 4,956.35.
Although the S&P 500 touched record highs in 2015, the index is down 2.6 percent for the year, buffeted by slowing growth in China, slump in commodities and uncertainty over U.S. interest rates. The Dow Jones industrial average is down 3.9 percent.
The Nasdaq Composite, which briefly breached its dotcom highs this year, is the only one of the three major indexes in the black, having risen 3.9 percent so far in 2015.
All 10 major S&P sectors were higher, led by a 0.83 percent rise in the financial sector .SPSY. JPMorgan’s shares (JPM.N) were up 1.5 percent and provided the biggest boost.
Goldman Sachs (GS.N) was up 1.1 percent and gave the biggest push to the Dow.
Microsoft (MSFT.O) was up 0.9 percent at $54.98 – providing the biggest boost to the S&P and Nasdaq – after a Barron’s report on Sunday that the company’s shares could rise 30 percent over the next 18 months.
Disney (DIS.N) was down 1.6 percent at $106.02, wiping out earlier gains from the latest Star Wars instalment’s box office-breaking opening weekend.
“Investors are concerned with the other businesses within Disney, it’s not just Star Wars,” said Adam Sarhan, chief executive of Sarhan Capital.
Advancing issues outnumbered decliners on the NYSE by 2,117 to 816. On the Nasdaq, 1,776 issues rose and 909 fell.
The S&P 500 index showed two new 52-week highs and 11 new lows, while the Nasdaq recorded 27 new highs and 54 new lows.
http://www.reuters.com/article/us-usa-stocks-idUSKBN0U41E820151221

21 Dec
Media Quotes

CNBC: Dow jumps 100 in open; financials lead

U.S. stocks opened higher Monday, attempting to bounce from a sharp sell-off last week, as investors eyed low oil prices in a shortened trading week.
The Dow Jones industrial average gained more than 100 points in the open, with Goldman Sachs leading nearly all constituents higher.
Financials jumped more than 1 percent to lead advancers in the S&P 500. Both the S&P and Dow are lower year-to-date.
“This time of the year is notorious for rallying. You might get some squaring of positions here that has little to do with oil prices,” said Mark Luschini, chief investment strategist at Janney Montgomery Scott. “With slippage again in oil prices, investors are looking through that a little bit and not taking it as a sign of global economic (weakness). … It may be a one-day wonder.”
Brent hit $36.05 a barrel in early morning trade, its lowest since July 2004, and continued to trade about 60 cents lower near that level.
Read MoreOil plays the role of Grinch the year
WTI crude futures for January delivery hit a new near-seven-year low. However, the contract expires Monday. The February contract did not touch fresh lows, and traded about 44 cents lower near $35.62 a barrel just before the U.S. market open.
“To me this just has to do with end of the year. Normal seasonal bounce. We’ll see if it can last,” said Adam Sarhan, CEO of Sarhan Capital.
“The market’s oversold. It’s overdue for a bounce. I think it’s more of a rotation going on underneath the surface because leadership is very narrow,” he said.
Analysts also noted some support from the weaker U.S. dollar, which traded mildly lower against major world currencies, with the euro just below $1.09.
The U.S. stock market closes early Thursday, Christmas Eve, and is shut on Friday for Christmas Day.
The only major data out Monday was the Chicago Fed National Activity Index, which declined to minus 0.30 in November from minus 0.17 in October.
Treasury yields traded mixed, with the 2-year yield higher near 0.96 percent and the 10-year yield lower near 2.19 percent.
U.S. stocks closed sharply lower Friday as investors weighed low oil and economic data in the aftermath of the Federal Reserve’s rate hike Wednesday. Options expiration also contributed to volatility.
Read MoreEarly movers: DIS, AAPL, ERIC, TIF, BXLT, JOY, MTU, SYT, GE & more
With Friday’s late afternoon decline in stocks, the major U.S. averages wiped out gains for the week. Trade volume Friday was the second-highest of the year.
On tap this week:
Monday
8:30 a.m.: Chicago Fed National Activity Index
Tuesday
8:30 a.m.: GDP Q3
9 a.m.: FHFA home prices
10 a.m.: Existing home sales
Wednesday
7 a.m.: Mortgage applications
8:30 a.m.: Durable goods
8:30 a.m.: Personal income
10 a.m.: New home sales
10 a.m.: Consumer sentiment
11 a.m.: Oil inventories
Thursday
Stock market closes at 1 p.m.
8:30 a.m.: Initial claims
10:30 a.m.: Natural gas inventories
Friday
Christmas Day holiday
Markets closed
*Planner subject to change.

LINK: http://www.cnbc.com/2015/12/21/us-markets.html

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