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NEW YORK - Stocks opened quietly Friday, trading mostly flat as investors awaited a report on home sales that could indicate whether Wall Street's somewhat less-pessimistic view of the sector is warranted.
The housing report could justify some of the more upbeat sentiment about the housing sector in recent days. The Federal Reserve this week said an "adjustment" in the housing sector was continuing, offering some relief for investors left unnerved by the woes among so-called subprime mortgage lenders. Wall Street had grown concerned that an implosion among subprime lenders, which make loans to people with poor credit, could spill over into other parts of the economy and derail already slowing economic growth.
In the first hour of trading, the Dow Jones industrial average fell 6.41, or 0.05 percent, to 12,454.73.
Broader stock indicators also slipped. The Standard & Poor's 500 index fell 0.54, or 0.04 percent, to 1,434.00, and the Nasdaq composite index fell 1.45, or 0.06 percent, to 2,450.29.
MARKET SNAPSHOT
U.S. stocks mixed after housing data
Crude oil prices jump on news of British soldiers held by Iran
NEW YORK (MarketWatch) -- U.S. stocks were mixed on Friday, as news that existing home sales unexpectedly rose in February helped soothe some immediate concerns about the housing market and the economy but couldn't completely offset caution ahead of the weekend.
Oil tops $62 after Iran takes U.K. sailors prisoner
BEFORE DJ OPENS ...
LONDON (MarketWatch) - European shares weakened modestly in early trading on Friday, with technology shares among lead decliners as SAP lost ground after receiving a lawsuit from rival Oracle.
Dow only closed up 13 points... very flat...
Motorola cuts forecast, hires new CFO
Cites weak handset business; will boost share buybacks
NEW YORK (MarketWatch) -- Motorola Inc. late Wednesday reshuffled its management ranks and slashed its financial forecasts for the current quarter and full year, while calling the slumping performance of its wireless handset business "unacceptable."
The company, which has been pressured by investor Carl Icahn to boost shareholder value, also said it will accelerate and increase its share-buyback program. In addition, Motorola hired a new chief financial officer from outside the company and promoted another executive to chief operating officer.
In premarket action Thursday, shares of Motorola Last: 17.86-0.88-4.70%
Motorola also expects to post a loss for the period of between 7 cents and 9 cents a share, including charges of 9 cents a share related to acquisitions and restructuring. Analysts had been expecting earnings of 17 cents a share.
Motorola also expects to post a loss for the period of between 7 cents and 9 cents a share, including charges of 9 cents a share related to acquisitions and restructuring. Analysts had been expecting earnings of 17 cents a share.
MARKET SNAPSHOT
U.S. stocks open lower after Fed decision
Market awaits speeches from central bankers to clarify Fed stance
NEW YORK (MarketWatch) - U.S. stocks opened on Thursday, giving up some of the prior day's strong gains, as investors looked to several speeches from central bankers to help clarify the implications of the Federal Reserve's policy statement.
The Dow Jones Industrial Average ($INDU : Dow Jones Industrial Average Last: 12,426.85-20.67-0.17%
Alamak!! Dow down 30 points!
harryp...
Yup... visual charting do bring about shapes and patterns never before imagined too.... :)
OOOhhh... it's that that dreaded and irritating triple posting again...
I wonder when it will go away... :(
iPunter, good point. Come to think of it too high up for a double bottom to apply. Looks like a standing cow with two hanging nipples instead.
Hope it is a pull back by bulls, followed by a throw back by bears and now continuation of trend. Take this as harry's analysis and not TA.
Peace
A double bottom appearing at the end of a downtrend is a good sign to enter the market.
BUT this "W" occurred at near the TOP!!!
A double bottom appearing at the end of a downtrend is a good sign to enter the market.
BUT this "W" occurred at near the TOP!!!
A double bottom appearing at the end of a downtrend is a good sign to enter the market.
BUT this "W" occurred at near the TOP!!!
Nice charts. Looks like a big "W". Double bottom or pull and throw back?
Peace
DJIA
THE FED
Fed holds rates steady, sees inflation elevated
While acknowledging slowdown, FOMC maintains bias toward raising rates
MARKET SNAPSHOT
U.S. stocks rally after Fed decision, comments
Dow gains 160 points as central bank leans towards neutral stance
NEW YORK (MarketWatch) -- U.S. stocks rallied on Wednesday, lifting the Dow Jones Industrial Average by over 160 points, after the Federal Reserve left interest rates unchanged as expected, but also opened the door for the central bank to consider risks to the economy on an equal footing with inflation risks.
as the yahoo chart has not update of yesterday rally yet, so i can see if the rally has substance. currently i just think it may be hype. need huge volume for DOW to confirm the reversal..
Yeaaahh... !!! ...
Way to go Dow!.
Looks like the bull may be breathing steam again!!! :)
