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Quiet Trading
Nov 04, 5:00 PM EST |
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| After a week of earnings, economic news and rise in interest rate, market took a quite moment during the session. Energy stocks fell better than 2.5%. |
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| Calm day of trading prevailed. As traders digested less than expected rise of 56,000 in non-farm payroll they showed no enthusiam to buy stocks. Falling crude oil price, by better than 2%, failed to attract investors to the energy stocks. Earnings parade continued with better than expected earnings from Ralph Lauren, Fortune Brands, AON Corp, Fluor Corp, Westar and Sanmina SCI. FPL, Glatfelter and Zip Realty earnings disappointed the market. |
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Market out of Steam
Nov 04, 12:29 PM EST |
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| The Labor Dept report showed that non-farm payrolls rose by 56,000 jobs in Oct vs. expectations of 110,000. The unemployment rate edged down to 5.0%. |
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| On the earnings front, Quanta Services posted third-quarter tripled profit of 11 cents a share on 13% revenue growth, beating estimates. Alliant Energy reported Q3 38% net income jump on 36% higher revenue. Westar Energy released quarterly earnings of 97 cents a share, topping expectations of 82. Fashion company Polo Ralph Lauren reported Q2 31% profit rise on 15% revenue increase, exceeding estimates. |
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Market Consolidates Gains
Nov 04, 11:04 AM EST |
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| The Labor Dept report showed that non-farm payrolls rose by 56,000 jobs in Oct vs. expectations of 110,000. The unemployment rate edged down to 5.0%. |
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| On the earnings front, Quanta Services posted third-quarter tripled profit of 11 cents a share on 13% revenue growth, beating estimates. Alliant Energy reported Q3 38% net income jump on 36% higher revenue. Westar Energy released quarterly earnings of 97 cents a share, topping expectations of 82. Fashion company Polo Ralph Lauren reported Q2 31% profit rise on 15% revenue increase, exceeding estimates. |
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Weaker Job Growth
Nov 04, 9:23 AM EST |
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| Apple Computer fell 2.3% after Prudential Equity Group cut its rating on the computer maker to 'neutral weight' from 'overweight'. |
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| Asian-Pacific markets ended higher with the Nikkei up 1.3% at a four-year high above 14,000 points on microchip and banking stocks. Markets in South Korea, Singapore and Australia gained, only Hong Kong fell. European stocks lost ground at mid-day on higher oil prices and ahead of U.S. payroll data. After jumping $2 yesterday, crude oil eased back below $62 a barrel. |
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