Click for more market data.
NEW YORK (CNNMoney)
The Dow Jones industrial average and the S&P 500 and the Nasdaq were all down between 0.2% and 0.3%.
Markets have had a good run so far in 2013. The Dow Jones industrial average and S&P 500 are both up nearly 7% and near their all-time highs, while the Nasdaq has gained nearly 6%.
The big advance came after officials in Washington resolved some of the nation's fiscal problems and punted on others. Investors have also welcomed some upbeat economic news, such as improvement in the housing market, and corporate earnings that beat analysts' modest expectations.
So far, two-thirds of the companies in the S&P 500 have reported results for the fourth quarter, with 70% of them beating forecasts, notes Oliver Pursche, president at Gary Goldberg & Company. Overall, the results are "painting a healthy picture for corporate profitability," he said.
There are still a few large corporations scheduled to report this week, including Coca-Cola (KO, Fortune 500), General Motors (GM, Fortune 500) and PepsiCo (PEP, Fortune 500).
On the economic front, the main event this week will probably be Wednesday's retail sales data. Economists expect modest improvement in sales during January, according to estimates from Briefing.com.
With earnings season winding down and the economy continuing to grow at a modest pace, stocks are headed for a period of "consolidation," said Dan Greenhaus, market strategist at BTIG in New York.
"We had a nice rally to start the year, and I wouldn't be surprised if we trade sideways for a while," he said.
Related: Fear & Greed index still in 'extreme greed'
U.S. stocks finished higher Friday, with the Nasdaq and S&P 500 logging their sixth straight week of gains.
In company news, Google (GOOG, Fortune 500) disclosed late Friday that executive chairman Eric Schmidt plans to sell 3.2 million shares of his stock in the company, worth about $2.5 billion. Shares of Google were lower.
Shares of Tesla Motors (TSLA) fell more than 3% in early trading after the New York Times published a scathing review of the Model S sedan over the weekend..
Related: Stocks we love
European markets were mixed in afternoon trading. Euro area finance ministers will meet Monday evening in Brussels to discuss, among other things, a financial rescue for Cyprus. Exchanges in Tokyo, Shanghai and Hong Kong were closed for holidays.
Related: Nikkei sprints ahead on Abe fever
With the G-20 meeting set to be held this week in Moscow, there are reports that finance ministers are discussing releasing a statement on exchange rates to try to calm concerns that developed economies might engage in a currency war, sparked by Japanese efforts to lower the value of the yen.
First Published: February 11, 2013: 9:41 AM ET
Anda sedang membaca artikel tentang
Stocks hover below recent highs
Dengan url
https://konserasik.blogspot.com/2013/02/stocks-hover-below-recent-highs.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Stocks hover below recent highs
namun jangan lupa untuk meletakkan link
Stocks hover below recent highs
sebagai sumbernya
0 komentar:
Posting Komentar