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(Select another date to see market comments for that day.)
\r\n\t\t\t\t\t\t\t\t\tUpdated Each Business Day at Approximately 4:30 pm ET
\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tStocks were little changed after initially moving higher amid upbeat retail sales data and merger news. Treasury yields surged late in the afternoon after Moody\\\'s said extending Bush tax credits would be bad for U.S. credit ratings. Retail sales surged 1.2 percent last month. Caterpillar said it is purchasing Bucyrus International for $92 per share or $8.6 billion, a 32% premium from Friday\\\'s close. EMC will acquire Isilon Systems for $33.85, valuing the company at $2.25 billion. Lowe\\\'s reported third quarter earnings per share of $0.29 versus $0.23 per share in the same period last year. Earnings missed consensus analyst estimates of $0.30 per share and the company lowered its full year earnings estimate of $1.37 to $1.40 from $1.38 to $1.45.
The Dow added 9 points to 11201. Caterpillar was the key contributor to the advance with its shares rising 78 cents to $81.82 following its deal news. Exxon Mobil and Walt Disney worked in the opposite direction with losses of 51 and 50 cents, respectively. The NASDAQ shed 4 points to 2513. The S&P 500 gave up a point to 1197. The Dow Utility Index inched fractionally higher to 401 and the Dow Transports climbed 13 points to 4820. The small caps of the Russell 2000 inched fractionally higher to 401.
Volume totaled 877 million shares on the New York Stock Exchange while there were 523 million shares traded on the NASDAQ. There were 15 stocks higher for every 13 lower on the New York Stock Exchange. Advancers were slightly more abundant than decliners on the NASDAQ. Gold retreated $20 to $1368.50 per ounce. US Treasury securities were lower across the board. Sample closing yields: 0.17 percent for the 3-month bill, 1.41 percent for the 5 year-note, 2.83 percent for the 10 year note and 4.30 percent for the 30-year bond. October\\\'s producer price index and industrial production as well as November\\\'s home builders\\\'s index are due out tomorrow.
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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\r\n\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tChinese inflation concerns triggers further selling in US markets. Though US markets were firmly lower, the rate of their descent was far more benign than in China which saw its major stock index fall 5.2 percent. Concerns resurfaced that China may be about to implement further tightening measures to stem inflation. Commodities also languished on the news with materials stocks pacing broad market losses. It was not a good week for stocks domestically which unraveled after Cisco produced a disappointing outlook. European sovereign debt concerns also reemerged. The Dow fell more than 2 percent this week and the tech-heavy NASDAQ fell close to 2.5 percent.
The Dow receded 90 point further to 11192. Boeing and International Business Machines posted oversized losses for the index. The former received an analyst downgrade due to concerns surrounding its 787 aircraft testing suspension. It was a happy ending for Disney, which saw it shares surge $1.89 despite missing earnings estimates by a penny. The company said it was seeing strong trends including an increase in bookings at its theme parks. The NASDAQ dropped 37 points to 2518. The S&P 500 subtracted 14 shed 50 points to 4806. The Dow Utility Index gave up 3 points to 401 and the Dow Transports traded 5 points higher to 4856. The small caps of the Russell 2000 were bid 12 points lower to 719.
Volume totaled more than a billion shares on the New York Stock Exchange while there were 611 million shares traded on the NASDAQ. There were five times the number of losers versus winners on the New York Stock Exchange. Decliners toppled advancers by a 4 to 1 margin on the NASDAQ. Gold sank $10 to $1388.50 per ounce. US Treasury securities mostly lower. Sample closing yields: 0.13 percent for the 3-month bill, 1.35 percent for the 5 year-note, 2.77 percent for the 10 year note and 4.27 percent for the 30-year bond. Have a good weekend!
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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\r\n\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tCisco\\\'s weaker than expected sales outlook brings out the bears. Cico lost more than 15 percent of its value following the news; it was its worst daily showing in 16 years. Cisco is oftentimes viewed as a barometer for economic conditions due to its large exposure to a variety of industry groups and its geographically diversity. Not surprisingly, technology shares paced losses while energy shares were mostly higher. Chinese inflation concerns also weighed. However, there was a positive datapoint from the housing market. RealtyTrac said home repossessions fell 9 percent last month. Representatives from the Group of 20 leading financial nations are meeting in South Korea starting today.
The Dow descended 73 point to 11283. Cisco and Boeing led a long list of decliners within the index. Cisco sank $3.97 to $20.52 and Boeing lost another $1.70 to $65.37. Exxon and Chevron worked to temper losses, with gains of 67 and 92 cents, respectively. The NASDAQ erased 23 points to 2555. The S&P 500 gave up 5 points to 1213. The Dow Utility Index inched fractionally higher to 404 and the Dow Transports traded 5 points higher to 4856. The small caps of the Russell 2000 unwound 3 points to 731.
Volume totaled 951 million shares on the New York Stock Exchange while there were 685 million shares traded on the NASDAQ. There were almost two stocks lower for every one higher on the New York Stock Exchange. Losers doubled winners on the NASDAQ. Gold surged $8 to $1398.50 per ounce. Treasury markets were closed for the Veteran\\\'s Day holiday. Recent closing yields: 0.14 percent for the 3-month bill, 1.19 percent for the 5 year-note, 2.63 percent for the 10 year note and 4.23 percent for the 30-year bond. November\\\'s consumer confidence figures are due out tomorrow. Disney\\\'s earnings results are out following the closing bell this evening.
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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\r\n\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tStocks bounced higher amid upbeat weekly employment figures. Weekly jobless claims fell 24,000 to 435,000 with the four-week average falling to a two year low of 446,500. The US trade deficit declined to $44 billion while China\\\'s trade surplus ballooned to $27 billion in September. The trade data prompted reports of tighter lending practices in China which could stem inflation. The Group of 20 global economic leaders meeting gets under way in South Korea tomorrow. Currency trading and the United States\\\' second round of quantitative easing are likely to be among the themes discussed. Energy shares remained in the pole position as the price of oil maintained an upward bias. General Motors announced earnings of $2 billion in the third quarter ahead of its initial public offering next week.
The Dow posted a 10 point gain to 11357. Chevron recovered from yesterday\\\'s losses, leading the Dow higher with a $1.61 to $85.17. Boeing worked in the opposite direction, falling $2.18 to $67.07 after halting tests of its 787 jet following a recent emergency landing. The NASDAQ pushed almost 16 points higher to 2578. The S&P 500 added back 5 points to 1218. The Dow Utility Index gave up almost 3 points to 403 and the Dow Transports advanced 14 points to 4851. The small caps of the Russell 2000 put on almost 9 points to 734.
More than 1.1 billion shares were exchanged on the New York Stock Exchange while volume amounted to 569 million on the NASDAQ. There were three stocks higher for every two lower on the New York Stock Exchange. Winners bested losers by about a 2 to 1 margin. Gold dropped $30.50 to $1390.50 per ounce. US Treasury securities were little changed. Sample closing yields: 0.13 percent for the 3-month bill, 1.22 percent for the 5 year-note, 2.66 percent for the 10 year note and 4.25 percent for the 30-year bond. Stock markets are open tomorrow but government offices, banks and Treasury bond markets will be closed for Veteran\\\'s day.
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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\r\n\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tStocks turn decidedly lower amid a bank led sell-off. Energy shares helped mitigate against additional losses following merger news in the sector. Chevron said it is purchasing Atlas Energy in a deal valued at approximately $4.3 billion. In earnings news, Dean Foods reported quarterly earnings per share that were below expectations. AK Steel Holding fell more than 5 percent after being downgraded by Goldman Sachs.
The Dow retreated 60 points to 11346. Caterpillar, Boeing and Chevron fronted losses. Chevron was one of the few energy stocks that fell following news of its acquisition of Atlas. Indeed, Exxon led on the upside with a 75 cent gain to $70.63. The NASDAQ suffered a 17 point setback to 2562. The S&P 500 receded almost 10 points to 1213. The Dow Utility Index inched fractionally lower to 406 and the Dow Transports surrendered 87 points to 4836. The small caps of the Russell 2000 lost almost 11 points to 726.
More than a billion shares were exchanged on the New York Stock Exchange while volume amounted to 583 million on the NASDAQ. There were more than twice as many decliners versus advancers on both the New York Stock Exchange and the NASDAQ. Gold rallied $32.50 to $1421 per ounce. US Treasury securities were mostly lower. Sample closing yields: 0.12 percent for the 3-month bill, 1.26 percent for the 5 year-note, 2.66 percent for the 10 year note and 4.25 percent for the 30-year bond. Cisco\\\'s post-close earnings release tomorrow will likely be closely watched by market participants.
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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\r\n\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tThe major remained in consolidation mode as news flow slowed. Germany\\\'s industrial production unexpectedly fell and deteriorating economic conditions in Ireland returned to the forefront. Financials paced losses amid negative headlines within the sector. Concerns remained elevated regarding a potential bankruptcy at Ambac. Federal Regulators are reportedly reviewing Citigroup\\\'s debt funds to see if proper disclosures to investors regarding risk were in place. Berkshire Hathaway reported a decline in third quarter net income. However, operating earnings rose to $2.79 from $2.06 billion in the year earlier period.
The Dow turned 37 points lower, giving up its recent streak of gains, to close at 11406. A 53 cent gain in Hewlett Packard was offset by a $1.06 loss in Boeing and an 86 cent decline in Travelers. The NASDAQ edged a point higher to 2580. The S&P 500 shed 2 points to 1223. The Dow Utility Index dipped 2 points lower to 406 and the Dow Transports edged a point higher to 4924. The small caps of the Russell 2000 inched fractionally higher to 736.
Nearly a billion shares were exchanged on the New York Stock Exchange while volume amounted to 487 million on the NASDAQ. There 16 stocks lower for every 13 higher on the New York Stock Exchange. On the NASDAQ, advancers and decliners were evenly matched. Gold shed 47 to $1388.50 per ounce. US Treasury securities were mixed. Sample closing yields: 0.12 percent for the 3-month bill, 1.13 percent for the 5 year-note, 2.55 percent for the 10 year note and 4.12 percent for the 30-year bond. There are no major releases slated for tomorrow. Cisco\\\'s post-close earnings release Wednesday may influence trading later in the next.
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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\r\n\t\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\r\n\t\t\t\t\t\t\t\t\t\t\tThe major indices consolidated gains. An action packed week resulted in the major indices rallying to levels not seen since the early days of the financial crisis in 2008. The major indices rose approximately 3 percent following mid-term elections which saw Republicans taking control on the House of Representatives and the Federal Reserve laid out plans for its second round of quantitative easing. Today, the report on October nonfarm payroll showed employment growth of 159,000 which was better than expected though unemployment remained at 9.6 percent in October. Financial stocks again climbed amid reports the Federal Reserve was reading to lift ban on dividend increases for banks who have achieved healthy levels of capital.
The Dow nudged 9 points higher to 11434. JP Morgan pushed $1.14 higher while Merck pulled in the opposite direction, losing 95 cents to $35.70. The NASDAQ edged more than a point higher to 2578. The S&P 500 tacked on 4 points to 1225. The Dow Utility Index inched fractionally lower to 409 and the Dow Transports were also a fraction of a point lower to 4923. The small caps of the Russell 2000 traded 3 points higher to 736.
Volume totaled more than 1.2 billion shares on the NASDAQ and 582 million shares were exchanged on the New York Stock Exchange. There were 4 stocks higher for every 3 lower on the New York Stock Exchange. On the NASDAQ, there were 7 stocks higher for every 5 lower. Gold rallied $14.50 to $1395.50 per ounce. US Treasury securities moved lower among mid and long-dated issues. Sample closing yields: 0.12 percent for the 3-month bill, 1.09 percent for the 5 year-note, 2.54 percent for the 10 year note and 4.12 percent for the 30-year bond. News flow should temper a bit next week. Have a good weekend!
Customers with questions concerning this Afternoon Comment are advised to contact Dendra Lambert at: 1-800-444-1854 x1239 or (502) 588-1239. Members of the media are advised to contact Chambers Moore at 1-800-444-1854 x8416 or (502) 588-8416.
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