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NEW YORK—Stocks closed higher Friday after a late rally erased the session’s losses following a disappointing jobs report.
The Dow Jones Industrial Average climbed 19.68 points, or 0.17%, to 11382.09, extending its December rally. The measure climbed 2.6% for the week.
The Nasdaq Composite gained 12.11, or 0.47%, to 2591.46, its highest close in nearly three years. The Standard & Poor’s 500-stock index rose 3.18, or 0.26%, to 1224.71.
The market had weakened for much of the day after the November jobs report missed high expectations, but other economic reports cushioned the disappointment over the weak labor-market data.
The disappointing jobs report could bolster the chances of Congress extending the Bush-era tax cuts scheduled to expire at the end of this year or give the Federal Reserve more reason to continue its bond-buying program to boost the economy, analysts said.
Craig Peckham, equity trading strategist at Jefferies, noted that stocks in the materials and energy sectors, which would benefit from a weaker dollar, climbed.
The sectors’ climb reflects “the way the market is setting itself up post-jobs report: for a higher probability of longer, if not greater, stimulative action by the Federal Reserve,” he said.
Fed chairman Ben Bernanke told CBS in an interview to be aired on Sunday that he’s not ruling out purchasing more bonds to aid the U.S. e Read more…
NEW YORK—Stocks fell Monday as investors worried that the $112.61 billion Irish bailout wouldn’t be enough to contain the euro-zone debt crisis.
The Dow Jones Industrial Average closed down 39.51 points, or 0.36%, to 11052.49. The measure’s technology components were among its worst performers, with Hewlett-Packard down 60 cents, or 1.4%, to $42.60, after Gartner Inc. cut its forecast for world-wide personal-computer shipments for the year. International Business Machines fell 1.01, or 0.7%, to 142.89.
The Nasdaq Composite fell 9.34, or 0.37%, to 2525.22, and the Standard & Poor’s 500 declined 1.64, or 0.14%, to 1187.76. The consumer-discretionary and technology sectors suffered the biggest declines, but the financial, energy and materials sectors ended the day in the black following a late-day rebound.
The turnaround came after the Dow had been down more than 160 points earlier in the session, as investors began realizing that at those levels, “there is some value out there,” said Anthony Conroy, head trader for equities at BNY ConvergEx. A
Mexico’s state oil company Pemex posted a US$78.1mn trade surplus in petrochemical products in January-October this year compared with a surplus of US$3.4mn in the same period of 2009.
Exports in the first 10 months totaled US$208mn and imports US$130mn versus US$117mn and US$114mn, respectively, in January-October 2009, according to statistics on the company’s website.
In October alone, the company reported a surplus of US$2.7mn compared with a deficit of US$11.5mn posted in the prior-year period. Last month, exports summed US$16.8mn and imports US$14.1mn versus US$14.8mn and US$26.3mn, respectively, a year earlier.
VOLUMES
In the first 10 months of this year, Pemex exported 596,000t and imported 211,000t of petrochemicals compared with 616,000t and 292,000t, respectively, in January-October 2009.
Last month, exports totaled 49,800t and imports 18,600t, while a year earlier the company shipped 91,200t abroad and imported 49,200t.
Pemex’s petrochemicals arm is called PPQ.
In our world, a fast and furious pace is the norm. And for better salary we need better job. We understand that education is often extended back seat to other priorities in life. But ultimately, there may come a time when higher education will open doors to new opportunities in life.
A commonly observed problem is, of course, the time required. With an already full schedule, it may be difficult to envisage any other activity, including in your life. This is one reason that many people find affordable online degrees to be so desirable. The attraction includes the fact that this type of studying is closest to your computer.
Getting an education in the comfort of your own home has many advantages. The time required is reduced because there is no time travel involved. Costs are reduced because of this and the fact that you will not need to buy new clothes for your classes. Read more…
Stocks declined at the end of a lackluster week as investors already on edge about global growth became concerned that China could take steps to brake its economy’s expansion.
The Dow Jones Industrial Average fell 90.52 points, or 0.80%, to 11192.58, its lowest level since Nov. 2, the day of the U.S. Congressional elections. The Dow fell 2.2% for the week.
Stocks have surrendered all of their gains since Republicans seized control of the House of Representatives and the Federal Reserve announced its much-anticipated bond-buying program.
The Nasdaq Composite fell 37.31, or 1.46% to 2518.21. The Nasdaq shed 2.4% for the week, ending a string of five consecutive weekly gains. The Standard & Poor’s 500-stock index fell 14.33, or 1.18% to 1199.21 on Friday, also breaking a five-week winning streak.
Asian markets fell on Friday as concerns resurfaced that the Chinese government would further tighten monetary policy to counter inflation.
The benchmark Shanghai Composite Index fell 5.2%, erasing nearly a quarter of its three-month upswing. Read more…