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US STOCKS-Market declines on home sales, Merrill
U.S. stocks dropped on Wednesday, pressured by weaker-than-expected housing data and Merrill Lynch & Co. Inc's (MER.N:
Quote,
Profile,
Research) $7.9 billion in write-downs, adding to investor concern about credit market problems.
Merrill Lynch, the world's largest brokerage, reported its first quarterly net loss in six years, blaming bad bets on risky subprime mortgages and related securities.
Other disappointing earnings news came from Amazon.com Inc (AMZN.O:
Quote,
Profile,
Research), which helped to drive the Nasdaq down 1 percent.
Stocks added to losses shortly after the opening after the National Association of Realtors reported sales of previously owned homes fell more than economists' had expected in September, hitting a record low. For details, see [ID:nN24363941].
"Clearly the weakest area of the credit market is the mortgage space. It's clear we're having the second leg in the housing drag, which is going to last well into 2008," said Michael Darda, chief economist at MKM Partners LLC in Greenwich, Connecticut.
The Dow Jones industrial average (.DJI:
Quote,
Profile,
Research) was down 64.71 points, or 0.47 percent, at 13,611.52. The Standard & Poor's 500 Index (.SPX:
Quote,
Profile,
Research) was down 11.23 points, or 0.74 percent, at 1,508.36. The Nasdaq Composite Index (.IXIC:
Quote,
Profile,
Research) was down 34.68 points, or 1.24 percent, at 2,764.58.
In other earnings news chip maker Broadcom Corp. (BRCM.O:
Quote,
Profile,
Research) reported late on Tuesday a 75 percent fall in profit. Its stock plunged 17 percent to $34.75.
Shares of chip maker Intel Corp. (INTC.O:
Quote,
Profile,
Research) fell 3.4 percent to $25.89.
Merrill announced write-downs of $7.9 billion from leveraged loans from corporate takeovers and bad bets on mortgage securities. It had a quarterly net loss of $2.3 billion.[ID:nN24485186].
Merrill's shares fell 2.1 percent to $65.74.
Amazon shares declined 14 percent to $89.56 and posted their biggest daily percentage drop in 15 months. Amazon's earnings per share just beat estimates, and it reported a drop in profit margins from the previous quarter.
The Dow Jones home construction index (.DJUSHB:
Quote,
Profile,
Research) was down 1.5 percent.
US STOCKS-Market falls further after housing data
U.S. stocks extended losses on Wednesday after data showing weaker-than-expected existing-home sales added to concerns about the U.S. economy.
The Dow Jones industrial average (.DJI:
Quote,
Profile,
Research) was down 50.81 points, or 0.37 percent, at 13,625.42. The Standard & Poor's 500 Index (.SPX:
Quote,
Profile,
Research) was down 9.20 points, or 0.61 percent, at 1,510.39. The Nasdaq Composite Index (.IXIC:
Quote,
Profile,
Research) was down 28.63 points, or 1.02 percent, at 2,770.63.
god bless sti tomolo
Stocks open lower on Amazon and Merrill
Stocks fell at the open on Wednesday after Merrill Lynch & Co. Inc (MER.N:
Quote,
Profile,
Research) reported its first quarterly net loss in nearly six years and Amazon.com's(AMZN.O:
Quote,
Profile,
Research) earnings disappointed investors.
The Dow Jones industrial average (.DJI:
Quote,
Profile,
Research) was down 34.88 points, or 0.26 percent, at 13,641.35. The Standard & Poor's 500 Index (.SPX:
Quote,
Profile,
Research) was down 6.09 points, or 0.40 percent, at 1,513.50. The Nasdaq Composite Index (.IXIC:
Quote,
Profile,
Research) was down 25.41 points, or 0.91 percent, at 2,773.85.
Stocks rallied on Tuesday as Apple's strong profit and a Chinese distribution deal for BlackBerry maker Research in Motion suggested the sector is the place to hide from a slowing U.S. economy. The broader U.S. stock market also gained for a second session, though not as briskly as the tech sector. Quarterly results from blue chips such as American Express and DuPont showed companies with broad international reach are weathering the credit crisis and U.S. housing market slump.A more broad-based advance was stymied by disappointing news from retailers at both the high and low ends of the spectrum. Shares of Wal-Mart fell 2.9 percent when it scaled back store expansion plans, while those of pricey fashion accessories seller Coach fell nearly 12 percent after it said slowing store traffic would hurt earnings. The Dow Jones industrial average was up 109.26 points, or 0.81 percent, to end at 13,676.23. The Standard & Poor's 500 Index was up 13.26 points, or 0.88 percent, at 1,519.59. The Nasdaq Composite Index was up 45.33 points, or 1.65 percent, at 2,799.26.
US STOCKS-Market climbs as Apple, RIM drive tech rally
U.S. stocks rallied on Tuesday as Apple's strong profit and a Chinese distribution deal for BlackBerry maker Research in Motion suggested the sector is the place to hide from a slowing U.S. economy.
The broader U.S. stock market also gained for a second session, though not as briskly as the tech sector. Quarterly results from blue chips such as American Express (AXP.N:
Quote,
Profile,
Research) and DuPont (DD.N:
Quote,
Profile,
Research) showed companies with broad international reach are weathering the credit crisis and U.S. housing market slump.
A more broad-based advance was stymied by disappointing news from retailers at both the high and low ends of the spectrum. Shares of Wal-Mart fell 2.9 percent when it scaled back store expansion plans, while those of pricey fashion accessories seller Coach fell nearly 12 percent after it said slowing store traffic would hurt earnings.
"The line of delineation is so clear as to who are the winners in the global growth story," said Peter Kenny, managing director with Knight Equity Markets, in Jersey City, New Jersey. The rally's "not very broad-based, but there's tremendously strong leadership out of tech."
The Dow Jones industrial average (.DJI:
Quote,
Profile,
Research) was up 109.26 points, or 0.81 percent, to end at 13,676.23. The Standard & Poor's 500 Index (.SPX:
Quote,
Profile,
Research) was up 13.26 points, or 0.88 percent, at 1,519.59. The Nasdaq Composite Index (.IXIC:
Quote,
Profile,
Research) was up 45.33 points, or 1.65 percent, at 2,799.26.
RIM shares surged mid-session after it said it is teaming up with Alcatel-Lucent (ALUA.PA:
Quote,
Profile,
Research) to distribute the BlackBerry in China.
Tech shares were already in the lead after Apple reported profit and sales late on Monday that handily beat Wall Street's estimates.
Apple rose 6.8 percent to $186.16 and earlier reached a record $188.60. RIM stock jumped 9.8 percent to $124.53, and hit a record $128.36 during the session.
Shares of Google (GOOG.O:
Quote,
Profile,
Research), which has recently traded in near lock-step with Apple, nearly 4 percent to $675.77 and reached a record high of $677.60.
Shares of online marketplace Amazon.com (AMZN.O:
Quote,
Profile,
Research) were another swift gainer, with the stock jumping 10.4 percent to $100.82 in anticipation of a blow-out quarterly scorecard. It was the first time the stock had retaken the $100 level since December 1999, but the shares fell about 5 percent to $96 in heavy trading after the bell when it posted results that appeared only slightly ahead of Wall Street's forecasts. For more see [ID:nWNAS7589].
The feeding frenzy in tech took the spotlight off ailing retailers.
Wal-Mart stock lost $1.32, or nearly 3 percent, to $43.93.
On the higher end of the shopping spectrum, shares of Coach (COH.N:
Quote,
Profile,
Research) shed $4.87, or 11.7 percent, to end at $36.60 on the New York Stock Exchange.
Third-quarter profits have been a source of concern, with earnings growth forecast at just 1.8 percent -- the slowest in about five years -- according to Reuters Estimates.
Trading was moderate on the NYSE, with about 1.31 billion shares changing hands, below last year's estimated daily average of 1.84 billion, while on Nasdaq, about 2.39 billion shares traded, exceeding last year's daily average of 2.02 billion.
Advancing stocks outnumbered declining stocks by a ratio of about 2 to 1 on the NYSE and by 3 to 2 on Nasdaq.
DOW UP 109pt NASDAQ UP 45pt! STI will Cheong . Huat!
Dow up 100points!
"Housing is obviously still a big concern, and the question is how much does it spill over into the rest of the economy," said Alexander Paris, economist and market analyst for Chicago-based Barrington Research. "I think the trend for the market is down unless investors see something positive, and the market drifts back up again."
He said investors were also adjusting their positions ahead of key housing data this week.
On Thursday, the National Association of Realtors will release its existing home sales report, while the Commerce Department reports new home sales a day later.
http://biz.yahoo.com/ap/071023/wall_street.html?.v=35
Don't worry everyone, Dow is up now. Like Ericsim wrote, " Be patient lah". And yes, we hope it will up further. UP UP UP UP UP UP UP UP Jia You.
patience lah...ang mo had learn from us the KIASU style - awaiting somebody to press the buy button and last 15 mins closing entry...hehe
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Yield:4.41%
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12:05:29 PM ET 10/23/2007 
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DOW is floating again.
The Bull is battling the Bear.
Lets really pray hard that the bull can keep its momentum.
With this type of announcement, how to hope for the best?
US STOCKS-Dow, S&P turn down as Wal-Mart weighs
NEW YORK, Oct 23 (Reuters) - The Dow industrials and S&P 500 index pared early gains to edge lower on Tuesday after Wal-Mart Stores Inc. (WMT.N:
Quote,
Profile,
Research) announced cuts in capital expenditures, offsetting optimism about earnings.
The Nasdaq rose, helped by Apple Inc. (AAPL.O:
Quote,
Profile,
Research) earnings.
The Dow Jones industrial average (.DJI:
Quote,
Profile,
Research) was down 14 points, at 13,550. The Standard & Poor's 500 Index (.SPX:
Quote,
Profile,
Research) was down 2 points at 1,504. The Nasdaq Composite Index (.IXIC:
Quote,
Profile,
Research) was up 7 points at 2,761.
Don't be sianz so early. Hope for the best. Might go up. UP UP UP. Jia You.
Everything coming back to ground.
S&P in red now.
Sianz...
Wal-mart's inventory stuck. Dow lao sai.
DJ Cheong!!! STI Cheong!!! 
US STOCKS-Wall Street opens higher on strong profits
NEW YORK, Oct 23 (Reuters) - U.S. stocks rose at the open on Tuesday as strong earnings from Apple Inc. (AAPL.O:
Quote,
Profile,
Research) and American Express Co (AXP.N:
Quote,
Profile,
Research) calmed fears that consumers were curbing their spending.
The Dow Jones industrial average (.DJI:
Quote,
Profile,
Research) was up 48.94 points, or 0.36 percent, at 13,615.91. The Standard & Poor's 500 Index (.SPX:
Quote,
Profile,
Research) was up 6.41 points, or 0.43 percent, at 1,512.74. The Nasdaq Composite Index (.IXIC:
Quote,
Profile,
Research) was up 23.78 points, or 0.86 percent, at 2,777.71.
Pre-opening index only +36. Pretty weak. May not be sustainable for the whole trading session.
Hope some good news to give them boost.
| S&P 500 |
+4.80 |
1518.20 |
10/23 5:15am |
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| Fair Value |
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1517.68 |
10/22 6:43pm |
| Difference* |
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+0.52 |
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| NASDAQ |
+17.25 |
2189.00 |
10/23 4:52am |
 |
| Fair Value |
|
2188.14 |
10/22 6:43pm |
| Difference* |
|
+0.86 |
|
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| Dow Jones |
+36.00 |
13646.00 |
10/23 5:04am |
 |
U.S. stocks rose on Monday, rebounding from last week's steep sell-off as optimism that Apple would deliver strong earnings drove the Nasdaq to a gain of 1 percent. Apple did not disappoint, reporting sales and profit that handily beat Wall Street's forecasts after the closing bell, sending Nasdaq futures higher. During the regular session, bargain hunters were out in force, snapping up shares in the sectors hardest hit during last week's slump, such as homebuilders, banks and retailers. Stronger-than-expected earnings from drug maker Merck lifted its shares more than 3 percent and helped spur a late recovery in the Dow. Technology stocks, along with the health-care sector, are seen as posting the biggest year-over-year earnings growth in the third quarter, according to Reuters Estimates. Tech stocks emerged largely unscathed from a dramatic sell-off on Wall Street late last week, spurred by fear about a contracting economy. The Dow Jones industrial average rose 44.95 points, or 0.33 percent, to end at 13,566.97. The Standard & Poor's 500 Index gained 5.70 points, or 0.38 percent, to finish at 1,506.33. The Nasdaq Composite Index climbed 28.77 points, or 1.06 percent, to close at 2,753.93.
Stocks end up, Apple jumps after bell
NEW YORK (Reuters) - U.S. stocks rose on Monday, rebounding from last week's steep sell-off as optimism that Apple (AAPL.O:
Quote,
Profile,
Research) would deliver strong earnings drove the Nasdaq to a gain of 1 percent.
Apple did not disappoint, reporting sales and profit that handily beat Wall Street's forecasts after the closing bell, sending Nasdaq futures higher.
During the regular session, bargain hunters were out in force, snapping up shares in the sectors hardest hit during last week's slump, such as home builders, banks and retailers. Stronger-than-expected earnings from drug maker Merck (MRK.N:
Quote,
Profile,
Research) lifted its shares more than 3 percent and helped spur a late recovery in the Dow.
Technology stocks, along with the health-care sector, are seen as posting the biggest year-over-year earnings growth in the third quarter, according to Reuters Estimates. Tech stocks emerged largely unscathed from a dramatic sell-off on Wall Street late last week, spurred by fear about a contracting economy.
On Nasdaq, "it's really a few big-cap names attracting all the momentum players," said Michael Metz, chief investment strategist at Oppenheimer & Co, in New York. "There are so few games to play, the ones that attract the hot money attract them en masse and really perform."
The Dow Jones industrial average (.DJI:
Quote,
Profile,
Research) rose 44.95 points, or 0.33 percent, to end at 13,566.97. The Standard & Poor's 500 Index (.SPX:
Quote,
Profile,
Research) gained 5.70 points, or 0.38 percent, to finish at 1,506.33. The Nasdaq Composite Index (.IXIC:
Quote,
Profile,
Research) climbed 28.77 points, or 1.06 percent, to close at 2,753.93.
Shares of Apple shot up 2.3 percent to $174.36 on Nasdaq during regular-session trading. In extended hours, shares of the iPod maker climbed nearly 6 percent to $184.68.
AT&T (T.N:
Quote,
Profile,
Research) shares rose more than 1 percent after the bell on Monday on Apple's results, which included big sales of the iPhone for which AT&T is the sole telecom carrier.
AT&T, a Dow component, gained 58 cents to $41.75 in extended trading after the market's close. The stock ended the regular session at $41.17, down 0.5 percent, on the New York Stock Exchange.
In contrast, shares of Texas Instruments slipped 3.6 percent to $33.07 in extended-hours trading after the chip maker gave a revenue outlook that fell short of analysts' estimates. In regular trading, Texas Instruments closed at $34.27, up 1 percent, on the New York Stock Exchange.
Retailers could struggle on Tuesday after Target (TGT.N:
Quote,
Profile,
Research) cut its October sales outlook for stores open more than a year, in a statement after the closing bell.
BANKS, BUILDERS AND BARGAINS
Financial shares, the group that was hammered the hardest on Friday, bounced back in regular trading on Monday as investors sought out bargains.
Bank Wells Fargo & Co (WFC.N:
Quote,
Profile,
Research) rose 2.9 percent to $33.82 and investment bank Goldman Sachs (GS.N:
Quote,
Profile,
Research) added 2.1 percent to $222.18.
Dow component American Express (AXP.N:
Quote,
Profile,
Research) gained 2 percent to $58.30 in after-hours trading after the credit card and travel services company reported a quarterly profit that beat expectations.
The Dow Jones U.S. home construction index (.DJUSHB:
Quote,
Profile,
Research) was up 6.6 percent, marking its best day in a month. Builder D.R. Horton (DHI.N:
Quote,
Profile,
Research) climbed 6.9 percent to $12.77 and Pulte Homes (PHM.N:
Quote,
Profile,
Research), set to report earnings on Wednesday, gained 8.7 percent to $14.86.
"Even on Friday, the home builders held on to the bitter end and were one of the best-performing groups," said Tim Biggam, lead options strategist at online brokerage thinkorswim, in Chicago. "What we are seeing today is classic value investing, combined with short covering, which many times can signal market bottoms."
On the downside, Schering Plough (SGP.N:
Quote,
Profile,
Research) reported profit and sales that fell short of Wall Street's targets. Its stock was down 13.4 percent at $28.34.
Oil stocks also sagged as crude oil prices retreated from the $90-a-barrel level on concern that a slowing economy will crimp demand for energy.
Exxon Mobil (XOM.N:
Quote,
Profile,
Research) shares slid 1.3 percent to $90.91 and oil field services firm Schlumberger's (SLB.N:
Quote,
Profile,
Research) stock was off 4 percent at $95.34.
Trading was moderate on the NYSE, with about 1.40 billion shares changing hands, below last year's estimated daily average of 1.84 billion, while on Nasdaq, about 2.03 billion shares traded, just above last year's daily average of 2.02 billion.
Advancing stocks outnumbered declining ones by a ratio of about 6 to 5 on the NYSE and by 3 to 2 on Nasdaq.
