Dow jumps 133 as Americans head to the polls
The blue chips rise thanks to gains for Caterpillar, Boeing and United Technologies. Crude oil tops $88; gold moves over $1,700. Intel rises despite a report Apple may stop using its chips. Chipotle jumps.
As Americans went to the polls today, Wall Street enjoyed a big rally, with the major averages finishing higher for the third time in four days.
The Dow Jones industrials ($INDU) finished up more than 130 points and, in two days, made back all of their losses on Friday in a rally built on gains for big energy, industrial and financial stocks.
AT&T (T) and Intel (INTC) were the only Dow stocks not to finish in the black. Intel was hit by a report that Apple (AAPL) is thinking about replacing Intel-made chips in its Macintosh computers.
Oil prices were higher on worries that Superstorm Sandy has cut into domestic supplies of crude oil and refined energy products. The Energy Department will report on U.S. inventories on Wednesday. Gold (-GC) moved above $1,700 for the first time in three days. And the U.S. dollar is holding its own.
The Dow gained 133 points to 13,246. The Standard & Poor's 500 Index ($INX) gained 11 points to 1,428. The Nasdaq Composite Index ($COMPX) climbed 12 points to 3,012. The Nasdaq-100 Index ($NDX) was up 8 points to 2,681. Apple, the biggest influence on the index, was off $1.77 to $582.85. The stock is still down 17% from its mid-September closing high of $702.10.
Crude oil (-GC) in New York was at $88.89 a barrel, up $3.24. Brent crude , the benchmark North Sea crude, jumped to $111.08 a barrel, up $3.35.
But the national average price of gasoline fell to $3.463 a gallon, down from $3.47 a gallon on Monday. according to AAA's Daily Fuel Gauge Report. The price is down 9.3% from a near-term high of $3.818 on Oct. 8.
Gold settled up $31.80 to $1,715 an ounce. Commodity prices generally were higher.
The rally came as voters were lining up at polling places around the country to elect a president, members of Congress and a third of the U.S. Senate in what polls suggest will be one of the closest elections in recent years.
The betting site Intrade.com sees the odds of a win for President Barack Obama at 68%, with the odds of a Mitt Romney win at 32%. The Iowa Electronics Markets, which also lets investors speculate on the election outcome, sees similar odds. Both sites see Obama winning a touch less than 51% of the popular vote and Romney winning around 49%.
It's no guarantee that what happens on Election Day will carry through beyond. Bespoke Investment Group says the S&P 500 had positive returns in only two of the last seven days after a presidential election.
But many on Wall Street believe that just getting a result -- whether it's Obama or Romney -- will add some certainty to financial markets.
|Energy prices -- New York close|
|Tues.||Mon.||Month chg.||YTD chg.|
|Crude oil (-CL)||$88.71||$85.65||2.86%||-10.24%|
|Heating oil (-HO)||$3.0529||$2.9829||-0.31%||4.76%|
|Natural gas (-NG)||$3.6170||$3.5540||-2.03%||21.01%|
|(per mil. BTU)|
|Unleaded gasoline (-RB)||$2.6989||$2.6202||2.61%||1.56%|
|(per gallon; AAA)|
Amazon.com wins one from Apple in Europe
After the close, Amazon.com (AMZN) shares were down slightly at $237.24 after Reuters said European Union regulators are to end an antitrust probe into e-book prices by accepting an offer by Apple and four publishers to ease price restrictions on Amazon.
That decision would hand online retailer Amazon a victory in its attempt to sell e-books cheaper than rivals in the fast-growing market publishers hope will boost revenue and increase customer numbers.
"Faced with years of court battles and uncertainty I can understand why some of these guys decided to fold their cards and take the whipping," said Mark Coker, founder of Smashwords, an ebook publisher and distributor that works with Apple.
Separately, Apple has told a judge that Samsung Electronics' Galaxy Note 10.1 device infringes its patents, and sought to add the Android 4.1 Jelly Bean operating system to an existing lawsuit against Samsung in California. It's the first time Apple has sought to add Google's (GOOG) popular smart-phone operating system to a patent case.
Vringo wins and loses
Shares of Vringo (VRNG) fell 38 cents to $3.57 after the mobile-phone software maker said a jury had asked five companies, including Google (GOOG), to pay about $30 million for infringing on its patents.
The shares dropped because Vringo had been looking for compensation of at least $696 million from the companies, financial website iStockAnalyst had previously reported.
The court-appointed jury in Norfolk, Va., upheld the validity of Vringo's patents and asked Google to pay $15.8 million, AOL (AOL) $7.9 million, IAC/InterActive's (ACI) IAC Search & Media $6.6 million and Gannett (GCI) $4.3 million, Vringo said.
Vringo inherited the lawsuit after it acquired Innovate/Protect (I/P), a company that specializes in monetizing intellectual property, in March.
I/P had filed a patent infringement lawsuit against AOL, Google, IAC, Gannett and Target (TGT) in 2011. Target was asked to pay $98,833.
The jury recommend that the court approve a 3.5% royalty rate that companies must pay.
A broad rally
Of the 30 Dow stocks, 28 were higher, along with 429 S&P 500 stocks and 78 Nasdaq-100 stocks. In addition, transportation stocks, especially trucking and railroad shares, were higher. So were chip and bank stocks.
Hewlett-Packard (HPQ), Boeing (BA) and United Technologies (UTX) were the biggest percentage gainers among the Dow stocks. United Technologies, Boeing, Caterpillar (CAT) 3M (MMM) and Chevron (CVX) contributed about 57 points to the Dow's gain.
Computer Sciences (CSC) was the top S&P 500 performer, up $5.34 to $36.80. The company has cut jobs and worked to better manage its contracts, helping boost cash flow. Computer Sciences said today it continues to reshuffle operations.
Chipotle Mexican Grill (CMG) added $14.49 to $279.69. The burrito chain criticized by hedge fund manager David Einhorn was raised to "buy" from "neutral" at Bank of America.
Lam Research (LRCX) gained 85 cents to $37.69. The chip-equipment company was raised to "positive" from "neutral" by Susquehanna Financial analyst Mehdi Hosseini. The 12-month share-price estimate is $48.
Express Scripts (ESRX) plunged $7.73 to $55.15 and was the worst S&P 500 performer. A "weak business climate and the unemployment outlook" may lead to a loss of members, depressed drug utilization and “increased client demands and expectations,” Express Scripts said in a statement. Profits for pharmacy benefits managers are tied to clients' drug costs as they act as middlemen among employers, health plans and the drug industry.
DirecTV (DTV) declined 15 cents to $50.51. The largest U.S. satellite-television provider reported third-quarter profit that trailed estimates after Latin American subscriber additions failed to meet analyst projections.
Fossil (FOSL) tumbled $9.86 to $84.24. The maker of the namesake watch brand reported sales that trailed analysts’ estimates.
Zillow (Z) tumbled $6.22 to $28.15 after the real-estate website forecast fourth-quarter revenue below analysts' estimates. The company lost one of its larger advertisers, Foreclosure.com.
Shares of Emerson Electric (EMR) rose 96 cents to $51.46 after the industrial conglomerate posted adjusted earnings that topped Wall Street expectations. The company also said it wants to sell its $1.4 billion embedded computing and power business.
|Short hits from the markets -- New York close|
|Tues.||Mon.||Month chg.||YTD chg.|
|13-week Treasury bill||0.0900%||0.090%||-18.18%||800.00%|
|5-year Treasury note||0.744%||0.699%||4.06%||-10.36%|
|10-year Treasury note||1.742%||1.684%||3.32%||-6.89%|
|30-year Treasury bond||2.916%||2.871%||2.28%||0.93%|
|U.S. Dollar Index||80.715||80.843||0.91%||0.24%|
|(in U.S. $)|
|U.S. $ in pounds||£0.625||£0.626||0.82%||-2.92%|
|Euro in dollars||$1.28||$1.28||-1.10%||-1.06%|
|(in U.S. $)|
|U.S. $ in euros||€ 0.780||€ 0.781||1.11%||1.08%|
|U.S. $ in yen||80.52||80.23||0.90%||4.43%|
|U.S. $ in Chinese||6.25||6.24||0.25%||-1.22%|
|(in U.S. $)|
|(in Canadian $)|
|(per troy ounce)|
|(per troy ounce)|
|Crude oil (-CL)||$88.71||$85.650||2.86%||-10.24%|
Yes, those right wing nut jobs --- uhhh huh
LOOK AT ARIEL'S POSTS
Yes , he's totally sane , normal, unmedicated LOL
WHERE DO THESE CRETINS COME FROM - WHICH PLANET ?
The best thing about tommorrow will be that my e-mail and regular mail box will no longer
be full of compaign garbage, the true definition of junk mail.
The worst thing about tommorrow is that one the candidates will be President for the next
4 years and we will have returned 90% of the incumbants except those that retired or quit,
to congress. Of course 67 of senators retained their encumbancy without facing an
Ban abortion, Ban contraceptives. Have biblical fairy tale Creationism taught in all schools as a true science, force women to have vaginal ultrasounds.
The true goals of the radical cracked teanuts and their bosses Groper Nutquist and slapped axx lyin Willardo, ther Mexican Mormon Moron tax evading draft doger.
Can you imagine what might have happened if the Pope's boy Rick the Dick Sanitarium became V.P. under lyin Willardo, the tax evader, of the right wing radical cracked teanuts, the gay, rapist, pedophile catholic priests and the braindead evangelical nuts that listen to them. Men will no longer have to purchase condoms, as they will no longer be allowed in this country. All mens sperm must be used to create babies. Cameras will be in every bedroom. Catholic priests don't have to worry however, because, according to the testimony of former raped little boys, they don't use them.
The Pope's first order to his boy would be to release all catholic rapist pediophile priests from prison as the Pope is running out of people to continue the process of shearing his sheep. He is running out of collection pot fillers. After all, he needs the money to fight off all of the lawsuits against the church worldwide.
His second order to RickyDickyDo would be to move the White House to Vatican City.
Watch out Christians and Catholics. The great satan is lying to you.
The anti Christ is upon us!!!!!!!!!!!!!!!!
Repent, all you sinners!!!!!!!!!!!!!!!!!!!!!
The Mormon book, The Pearl of Great Price, claims that all other Christian groups are "corrupt" and are an "abomination" in God's sight (Joseph Smith, 2:19). The Mormons deny the Trinity and the existence of a literal burning Hell, yet they promote polytheism (many gods), baptism for the dead, and the notion that Jesus and Satan were originally spirit brothers!
This is what Todd Akin thinks of lyin Willardo, the Mexican Mormon Moron tax evader, bankrupter, job outsourcer, draft dodger and Etch a Sketch Champion.
Even lyin Willardo's Mexican daddy Jorge, knew what he would be like when he grew up So he gave him his first name "Willardo" after the large movie rat. He gave him his middle name after an old baseball glove that they found in the family outhouse that was full of shxt. They shortened lyin Willardo's first name to Willard and their last name from Robberos to Romney when they smuggled little lyin Willardo over here from his birthplace in Tijuana. His father's name was changed to George.
He is now known by most people as Mitt Robme.
It is amazing how these right wing nuts believe that lyin Willardo, in any way is going to do anything but destroy our country again. He is going to eliminate regulations so that his corporate criminal masters can rob and steal from us once again as they did under Bush Bin Lyin and his criminal gang led by President Cheney.
All pathetic, psychotic, braindead right wing radical cracked teanut dopes should listen to your leaders. They warned you about the Mexican Mormon Moron tax evading draft dodger during the primaries when they were able to tell he truth about this moron.
Lyin Willardo, the Mexican Mormon Moron tax evader, bankrupter, draft dodger, job outsourcer and Etch A Sketch Champion may have vision of going back home to Mexico.
All braindead pathetic right wing radical cracked teanuts should listen to your leaders.
Rick the Dick Sanitarium has brainwashed his followers, the evangelicals and the gay rapist, pedophile catholic priests that lyin' Willardo is a member of an evil cult and is the anti-christ. He also told them that lyin Willardo is the worst person in history to ever run for the presidency, can't be trusted and will destroy our country. Groper Nutquist, the boss of the right wing cracked teanuts and Nut Gingerhead, the criminal lobbyist, totally agreed with the last three assessments.
So most of the evangelical sheep will probably stay home on election day or some may even vote for Obama. They are totally scared to death of lyin Willardo, the Mexican Mormon Moron tax evader, bankrupter, job outsourcer, draft dodger and Etch A Sketch champion.
If this repuke draft dodger ever became president, and war broke out in the middle east, he will be putting his dog on the top of his car and fleeing to his birthplace in Tijuana and hide in one of his 4 grandmammy's (pappy's side only) outhouses.
Time to rise up and vote out the radical right wing cracked teapots and their oil, insurance and defense contractor owners. At least the people saw the light and realized how idiotic "Juiced Up" Sharron Angle and The Flying Witch Christine O'Donnell, Joe Smith from Alaska and several others were and did not vote them in. Hopefully, people saw what the real helicopter gunship pilot Sarah Palin is and will never allow her to hold any public office. The idiots who voted for these nutcases did not learn from Bush Bin Lyin and his criminal gang what the republicans are really about. They outed two CIA agents, who wanted to tell the truth that there were no weapons of mass destruction in Iraq. Bush Bin Lyin's bosses the oil companies and defense contractors got wealthy as our society was being brought down. These guys destroyed Iraq and then had to rebuild it using tax payer dollars. At least they got Delay. Scooter Libby was the fall guy for the CIA agents outing. Don't forget the criminal gang's trickle down economics where the money trickled down into their bosses pockets instead of creating jobs. That is why we were losing over 700,000 jobs a month before Obama took over.
How can any braindead, pathetic radical right wing cracked teanut dunce vote for this guy.
The repukes also want to ban invitro fertilization. Yet 3 of Willardo's children had this done to produce children. Now, he wants to outlaw it to get the votes of the evangelical crazies. He will lie and do anything to win. Then the evangelicals will probably get screwed if he is elected. His campaign manager called him an Etch a Sketch player. When he is elected you can't hold him to anything he promised.
His true allegiance is to the criminal corporate masters who are bankrolling his campaign so they get regulations eased to enable them to rob and steal from us once again as was done under Bush Bin Lyin and his criminal gang led by President Cheney.
Everything lyin Willardo feeds his braindead followers is a myth. I am sure he would be doing better if he told these repuke dopes that he would create 50 million jobs in the next 4 years. They don't need to be told how.
Clueless Lyin Willardo should not even be running for president. But for a lyin moron, talk is cheap. This clueless moron has no idea how to fix anything. This criminal repuke bankupts companies and loses jobs. What a joke. The nuts that follow him actually believe that he is going to create 12 million new jobs and these dopes believe him. He does not have to tell them how, that does not matter.
Clueless Lyin Willardo is known as the slapped axx Mexican Mormon Moron for good reason. This complete dunce made himself look even more ignorant than he already is by stating in a campaign clip that if he ever overpaid his taxes, he does not deserve to be your president. Well this repuke dunce overpaid his 2011 taxes by $3,000 to make it look like he was paying a higher tax rate-which he can recover after the election. He has up to 3 years to refile an amended return. Only a pathetic, psychotic, braindead radical right wing cracked teanut dope will vote for him.
These commie cretins are crowing like Obuma has won already
Did I miss something ?
What a bunch of losers, praying for Obuma to win like children.
I wonder why?
More freebies perhaps?
Whatever happens I'lll be fine , financially , emotionally , mentally.
I GOT mine already and none of you beggars will see a penny of it.
Well, it won't be long now.
We will soon know whether we should have taken it or left it.
Does it really matter who the next President will be or who controls congress? The last 5 administrations and the congresses during th0se administrations have not been all that
impressive. If they had we wouldn't be 16 trillion dollars in debt, and no it hasn't made
a bit of difference whether the democrats or republicans were in control.
We had better find to different way to run this country besides politics as usual.
How can we let a group of people, congress, with an approval rating a single digits or
low double digits govern this country?
See you tommorrow. Hope we know something by then.
Copyright © 2014 Microsoft. All rights reserved.
[BRIEFING.COM] The Nasdaq Composite (+0.5%) and S&P 500 (+0.2%) posted modest gains on Thursday, but not before enduring a morning dip into the red, which took place in reaction to reports indicating Russia has commenced military exercises on the Ukrainian border.
The news from Europe knocked the key indices from their early highs, while giving a boost to safe-haven assets like gold futures (+0.5% to $1290.80/ozt), Treasuries (10-yr yield -1 bps to 2.69%), and the Japanese yen (102.30 ... More
More Market News
|There’s a problem getting this information right now. Please try again later.|
VIDEO ON MSN MONEY
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'