Markets Higher After Better Chinese GDP and Yahoo Earnings
Markets were higher at midday after a better than expected result for first quarter Chinese GDP while U.S. economic data on housing starts and industrial production was mixed. Yahoo shares were jumping after strong earnings while Bank of America disappointed. Google and IBM will also be closely watched when they report today.
Markets closed higher Wednesday as Federal Reserve chair Janet Yellen reiterated that the Central Bank would continue to support growth with accommodating monetary policy. Chinese first quarter GDP was stronger than expected even as US economic data remains mixed. Major U.S. markets had their biggest three-day winning streak since February, at least temporarily halting bearish sentiment - though intraday volatility has been high.
TheStreet's Jim Cramer says Yahoo's earnings report was "terrific" and not just because of Alibaba. Cramer says Yahoo's business has stabilized away from Alibaba and it will be able to buy back billions of dollars worth of stock. Cramer thinks the stock can trade to the mid-$40s. Bank of America did not have a stellar quarter, says Cramer, and if the stock was up 44 cents yesterday it will give back those gains today.
Markets opened lower on Tuesday despite an upward revision in the fourth quarter GDP figures and weekly jobless claims numbers which appear to point to a continuing improvement in the U.S. economy. In corporate news, Lululemon posted quarterly results which topped forecasts, but the athletic apparel maker lowered its guidance for the full year. Shares of Citigroup were down after the bank failed the latest federal reserve stress tests. TheStreet's Ruben Ramirez reports from Wall Street.
Markets closed higher after strong earnings for Coca-Cola and Johnson & Johnson, though military unrest continued in Ukraine. Concerns are rising on the outlook for Chinese economic growth, with first quarter GDP of 1.5 percent expected tomorrow. U.S. housing sentiment data today disappointed while CPI growth remains lackluster. Stocks opened higher and turned lower before rebounding in late afternoon trade while the tech selloff continues.
Most global stock indices continue a recovery from their emerging-markets rout. Euro-zone indices move higher after better-than-expected GDP figures, with Germany, France and the Netherlands among the countries posting above-forecast growth. Spirits maker Pernod Ricard loses ground after trimming its full-year profit forecast because of a Chinese slowdown, while in Japan Rakuten rises as it adds instant messaging to its expanding roster of services.
Markets closed higher after the World Bank lifted its global growth forecasts and Bank of America's profit triggered a rally in financial shares. The World Bank raised its global growth forecasts as a recovery in developed economies offsets the impact of tighter monetary conditions on developing markets. The forecast for the richest nations was raised to 2.2 percent from 2 percent. Financial Markets closed higher after the World Bank lifted its global growth forecasts and Bank of America's profi
Markets closed lower after poor GDP and housing data despite a fall in weekly jobless claims. Tensions in Ukraine persist, with Obama warning over further sanctions for Russia. Citigroup shares fell and several financial stocks nosedived after failing to meet the Fed Reserve's stress tests. Some traders suggest investors are using volatility to take profits in more speculative sectors such as biotechs and technology as the S&P fails to hold above 1850. Jane Searle reports from the NYSE.
TheStreet's David Peltier and Andrew Krill preview the week ahead with a focus on fourth quarter earnings, the FOMC meeting and fourth quarter GDP. Apple, Google, Facebook, and Yahoo! are the big tech earnings to watch next week.
Markets closed higher, buoyed by the best growth in US retail sales data in the past 1.5 years and better than expected earnings from Citigroup. Suggestions of more QE in Europe added to the positive tone, though sentiment in U.S. markets was volatile over the session - the Nasdaq ranging between gains of more than 1 percent and losses.
Markets closed higher after the Federal Reserve cut bonds purchases by another $10 billion as expected, citing an improvement in economic momentum. Investors shrugged off a poor result for first quarter GDP of just 0.1% on the grounds of poor weather, while private payrolls beat expectations. Monthly April payrolls are due Friday. Pepco jumped after Exelon agreed to buy it while Twitter and eBay slumped after disappointing results late Wednesday. Jane Searle speaks to Keith Bliss at the NYSE.