Stocks Close Near Record Ahead Of Jobs Report

Dow Stays Flat, But Nike, Home Depot Point to Weakness in High-Growth Stocks

In government bond trading, bond prices rose. The yield on the 10-year Treasury note fell to 2.79 percent from 2.80 percent on Wednesday. The price of oil rose 67 cents, or 0.7 percent, to $100.29 a barrel. Gold fell $6.20, or 0.5 percent, to $1,284.60 an ounce Among other stocks making big moves: Anadarko Petroleum ( APC ) jumped $12.55, or 14.5 percent, to $99.02 after the company announced that it had reached a $5.15 billion deal to settle claims arising from the 2009 bankruptcy of paints materials maker Tronox. A U.S.

U.S. Stocks Fall From Records With Tech, Consumer Shares

Yet, despite the fact that the Dow’s flat performance today suggests investors’ willingness to own stocks even after a massive five-year bull run, flagging performance from growth stocks Nike (NYSE: NKE ) and Home Depot (NYSE: HD ) hints at fatigue among high-momentum gainers that have led the Dow and other markets higher over the years. Source: Nike. Nike’s three-quarter percent drop is just the latest in a series of declines ever since last month’s earnings report for the athletic shoe and apparel maker. As tempting as it is to blame the company’s bad fortune on short-term news events like the withdrawal of endorsement partner Tiger Woods from the Masters golf tournament later this month, Nike has many investors wondering whether it can sustain its growth pace without a stronger contribution from high-potential markets like China.

Stocks Pause Ahead of Big NFP Day

Concerns about currency depreciation and corporate defaults have been overshadowing evidence that China is moving toward achieving necessary structural reforms and that there’s likely to be a quicker timetable for key reforms than many market watchers currently expect. In March, for instance, China announced a widening of its currency band , the range within which the local currency can float. Meanwhile, the country’s central bank recently suggested that it will relax control on a number of bank deposit and fixed-income product interest rates within the next one to two years. The Chinese government is unlikely to abandon their growth objectives. The government’s recent pledge of more stabilizing measures almost immediately following news of disappointing growth data indicates that China will prioritize achieving stable economic growth while gradually pushing ahead with much-needed reform.

The gauge earlier touched an all-time high before closing within five points of its record. About 6 billion shares changed hands on U.S. exchanges, 13 percent less than the three-month average. The market still wants to be positive and has this feeling of goodwill, but at times it runs into a little bit of resistance, Robert Pavlik , chief market strategist at Banyan Partners LLC, which manages $4.5 billion, said in a phone interview.

Why Chinese Stocks May Still Make Sense Over the Long Run

However, ECB President Mario Draghi emphasized that the Bank will maintain an accommodative monetary policy to battle the prospect of inflation. Here in the US, the ISM Non-Manufacturing PMI rose to 53.1, which was slightly below the consensus reading of 53.5. obless claims were also a modest disappointment at 326,000, which was above expectations of 319,000. US markets still feel like they’re working off some excess following 2013’s 30% pop, though that hasn’t yet translated to the major averages as the selling is happening in riskier stocks. One good illustration of the action is the big move up in utility stocks.


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