Stocks rallied from a bad start to finish in the black on Friday, fueled in large part by a survey showing an unexpected increase in consumer confidence.
The monthly Consumer Confidence Index by the University of Michigan and Reuters showed a larger-than-anticipated increase in consumer sentiment to 83.8 in September, up from 83.4 in August and more than Wall Street’s projected 83.5.
The survey was released in mid-morning and appeared to be responsible for turning around the market. All three major U.S. stock indexes stumbled badly out of the trading gate, with the Dow dropping almost 100 points alone. By market’s close, however, the Dow Jones was up 18 points to 13443, while the tech-heavy Nasdaq gained just a point to 2602 and the S&P 500 also eked out a one-point gain to finish at 1484.
Department-Store Cards Lower Rates, Boost Rewards (Consumer Action ::
Stocks End Lower. BofA Beats Street, Extends Bank Rally. EBAY UPDATE: Actelion Swings To 1st Half Net Profit, Lifts Guidance. GSK
http://www.smartmoney.com/consumer/index.cfm?story=20070605&pgnum=2HOME |
Japans key tankan business survey shows corporate mood is upbeat ::
Japans key tankan business survey shows corporate mood is upbeat, lifts stock market Japans core consumer price index rose in February for the fourth
http://english.ohmynews.com/ArticleView/article_view.asp?no=283364&rel_no=1HOME |
Lost in the investor elation was the fact that the CCI index remains near a yearly low, as problems in the housing and credit markets continue to weigh on consumer confidence.
Like the indexes, most major tech stocks treaded water Friday. One exception was Yahoo, which jumped 1.01 to 24.73, a gain of 4.3 percent, on no discernible news.
The Spokesman-Review.com - Fed survey lifts stock to a point::
assessment from the Federal Reserve gave most stocks a modest lift Wednesday, report that manufacturing activity and consumer spending rose over the last two
http://www.spokesmanreview.com/pf.asp?date=030404&ID=s1495197HOME |
BlackBerry maker Research in Motion, Ltd. climbed 1.52, or 1.8 percent, to 87.26, its fifth consecutive gain. On Wednesday, wireless provider T-Mobile announced it would cut the monthly fee for BlackBerry’s email service.
Computer and iPod maker Apple rose 1.61, or 1.2 percent, to 138.81. The company on Friday began the $100 in-store credit to early purchasers of the iPhone. Apple slashed the iPhone’s price by $200 just weeks after its highly promoted debut, incurring the wrath of many Apple loyalists.
Strong jobs report lifts stocks Friday - Nov. 12, 2004::
forecasts for 175,000 new jobs, according to a survey by Briefing.com. Wages are rising, thats important for consumer spending. Bonds and dollar slide
http://money.cnn.com/2004/11/05/markets/markets_newyork/index.htmHOME |
Stocks rise, helped by oil price tumble | Reuters::
NEW YORK (Reuters) - U.S. stocks rose on Thursday as a drop in oil prices fueled investor optimism about consumer spending, driving shares of transportation and
http://www.reuters.com/article/businessNews/idUSL1764662020080619RSS&feedName=businessNewsHOME |
Chip maker Intel Corp. dropped 42 cents, or 1.7 percent, to 24.93 after Merrill Lynch on Friday downgraded its stock to neutral from buy, questioning how long shares can sustain upward momentum. Intel stock has surged 35 percent in the past six months.
Google finished up 3.97, or 0.8 percent, to 528.75. On Thursday the search giant urged businesses and regulators throughout the world to establish global standards for protecting consumer privacy.
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