Stocks: Will momentum stick?

Written By limadu on Senin, 06 Mei 2013 | 23.10

u.s. stocks, dow

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NEW YORK (CNNMoney)

Stocks were little changed Monday, amid a lack of any market moving news. The Dow Jones industrial average was flat, while the S&P 500 and Nasdaq edged slightly higher.

As trading resumes quietly on Wall Street, here are five things to watch:

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1. New milestones: The S&P 500 crossed 1,600 for the first time last week, propelled higher by a better-than-expected April jobs report. The broad index hit a fresh-all time high above 1,618 Monday.

The Dow hit an all-time high above 15,000 last week, but has yet to close beyond the psychologically important level. With little news to spur investors into action, stocks may not maintain their robust momentum.

"I think investors got a little lift in their step from Friday's jobs report," said Mark Luschini, chief investment strategist for Janney Montgomery Scott. "[But] this week, we're almost absent anything newsworthy."

Related: Fortune 500's new No. 1: Wal-Mart

2. Apple, Cliffs up on analyst upgrades: Shares of Apple (AAPL, Fortune 500) were on the rise Monday, making the stock among the biggest gainers in the Nasdaq-100. Apple was in favor after Barclays raised its share price target to $525 from $465. Shares are now up almost 20% from their 18-month low hit last month.

Shares of Cliffs Natural Resources (CLF, Fortune 500) rallied after FBR boosted the stock's rating to outperform.

3. Tyson Foods suffers sales slowdown: Tyson Food (TSN, Fortune 500)missed profit and revenue forecasts, citing a slowdown in chicken and beef sales following last year's historic drought. Shares sank more than 5%.

In other earnings news, private equity firm Apollo Global Management (APO) reported an increase in revenue and net income, sending shares up more than 2%.

Warren Buffett's Berkshire Hathaway (BRKB) reported first-quarter earnings that blew past expectations. Shares gained ground.

Related: Fear & Greed Index: Extreme greed

4. Yen keeps falling: The yen continued to slide Monday, nearing ¥100 per U.S. dollar. The Japanese currency has dropped nearly 15% this year as the Bank of Japan aims to pull Japan out of the deflationary spiral it's been in for nearly two decades.

Japan's new economic plan, dubbed "Abenomics" after Japanese Prime Minster Shinzo Abe, combines massive fiscal stimulus with aggressive monetary easing.

5. World markets flat in holiday-thinned trading: European markets were barely moving. Asian markets closed higher on the upbeat U.S. employment report. Exchanges in London and Tokyo were closed for holidays. To top of page

First Published: May 6, 2013: 10:02 AM ET


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