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%|
The catholic nuns really helped turn this race around for Obama, in my opinion, when they started their bus tour to explain to people how Lyin Ryan and Lyin Willardo were going to destroy medicare and healthcare as they know it.
When nuns and bishops speak out against the criminal repukes, they should be congratulated for it.
This "Baindead" pick of Ryan is going to cause lyin Willardo, the Mexican Mormon Moron to lose the nun and bishop votes. They HATE Ryan and his lies.
Any senior or anyone else on medicare who votes for a pathetic, psychotic, facist repuke for president is cutting their own throat. Your medicare costs will go up about $6,000 a year, and your secondary insurance will skyrocket. This is according to the CBO. The National Council of Bishops who support the lying repukes only because of abortion, have highly cr iticized the Ryan voucher plan as being cruel and harsh and can't support it. It gives an average $250,000 tax cut to millionaires while cutting medicare.
There is a group of nuns travelling around the country who call themeselves "Nuns on a Bus". Their goal is to correct all the false information and lies spread by Paul Ryan that his plan is going help anyone but the wealthiest 2%. They also claim the the Ryan plan is a disaster for the poor and needy people in this country and that you should vote against the republicans.
Once the medicare funds get into the hands of the repukes corporate criminal backers, it will be destroyed.
Repukes are typical right wing dunces that listen to Fox Lies with Eric Bowleggs, David Axxwipes and The Sludge. Even Miss Piggy has more brains than these braindead repukes, as she knows that Faux News is only a pretend news channel and is only a poor excuse for a comedy channel.
There had to be a reason that Rick the Dick Sanitarium and Nut Gingerhead, the criminal lobbyist both agreed that lyin Willardo is the worst person to ever run for president in U.S. history, that he can't be trusted and will destroy our country.
They both brought Etch A Sketch boards to their news conferences to prove their points.
I figure there's gonna be a lot of celebrating tonight...
Probably a lot of gunshots and fireworks going on....
I hope no one kills themselves or others because Obammy gets re-elected...
And the fireworks will just be for the dawning of another day...Maybe this time more will get accomplished..And I hope many,will give up on ill will and worry about America and not themselves.
The congress had a 23% approval rating before the right wing radical cracked teanut dopes were elected. Now it is about 11%, the lowest in history.
The first two thing these repuke freaks did when in congress was to try to get two bills passed making Creationism the equal science of evolution and abortion banned. Nothing about jobs.
Classic I really don't have anything to post. It seems in order to read the post you have to sign in and post to get them in the order they should be in.
Time for talk is over, it's put up time.
I did notice the normal right wing whacks with their normal rants. It seems you're the only one of them with any intelligence whatsoever, not a compliment just a sad observation.
CORNBALL ABS said: 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 ?
You can be sure he is NOT FROM MITT'S PLANET, KOLOB .......
Rick the Dick Sanitarium. The king of the Taliban Catholics and Christians. The true Allah of America. Together with Mohammed Mitt they will try to pass a law to have biblical fairy tale Creationism forced on all people as being a true science. I wonder how many of these toothless, backwoods evangelical Children of the Corn nuts still believe the earth is flat?
These freaks should be out making crop circles for the rain god.
GOT mine already and none of you beggars will see a penny of it.
I guess beggars can be choosers. They can choose not to read your drivel.
Lets put a lid on this teapotter.
Lyin Willardo, the Mexican Mormon Moron tax evader, bankrupter, Etch A Sketch Champion, job outsourcer and draft dodger may be the worst repuke dunce of all. This guy has yet to provide his tax returns for the last 5 years. It should show how much he has evaded in taxes and how much unreported income he has stashed away in Cayman Island and Swiss bank accounts. He is your typical right wing thief.
There have been many rumors going around that little lyin Willardo was seen in a baby carriage in Tijuana. with a bottle of Corona Light in one hand and an Etch A Sketch in the other. The side of his carriage had the name "Little Lyin Willardo" on it. So when we see the long form of his birth certificate and it says Willardo on it and not Willard, we will know something is wrong.
Isn't it funny, that his new buddy Fox Top Trump never asked lyin Willardo for a copy of it?
What a joke. Less and less of the stupid right wing nuts come out to back lyin Willardo, the Mexican Mormon Moron tax evader and bankrupter and they rave about it. As most people know, the evangelicals consider the mormons an evil anti-christ cult. The mormons have been converting dead jewish people, without their knowledge to become mormons to enhance their religion. They baptise them when they are dead. These sick aholes were caught when they tried to convert Anne Frank to be a mormon. These repuke dunces best bet is to bring back Herman (9Kampf) Cain, the dress slitherer. He can draft Jerry Sandusky for V.P. Who cares what they have done in the past, they are against abortion, that is all that counts.
CAIN/SANDUSKY 2012. The true repuke family values candidates.
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.
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[BRIEFING.COM] The stock market punctuated July with a broad-based retreat that sent the S&P 500 lower by 2.0% with all ten sectors ending in the red. The benchmark index posted a monthly decline of 1.5%, while the Russell 2000 (-2.3%) underperformed to end the month lower by 6.1%.
To get a better feel for what led to today's retreat, we'd like to look back to Wednesday, when the market had ample reason to rally, but did not. Instead, it ended basically flat after a sloppy day of ... More
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