Stock Market News for August 12, 2011 - Market News
12 8월 2011 - 6:05PM
Zacks
Wall Street’s volatile run continued on Thursday as encouraging
economic data eroded fears of a possible recession at least for the
moment, and the markets moved upwards. The Dow created history with
its largest one-day percentage moves over the past four sessions,
as it went up 423 points just a day after it was down more than 500
points. While a positive jobs report gave an additional boost to
sentiment, Cisco also joined the party with its robust quarterly
results.
The Dow Jones Industrial
Average (DJIA) soared 3.9% to close the day at 11,143.31. The
Standard & Poor 500 (S&P 500) jumped 4.6% to close at
1,172.64 and the Nasdaq Composite Index shot up 4.7% to finish the
day at 2,492.68. The fear-gauge CBOE Volatility Index sank 9.3%. It
was yet another busy day on the New York Stock Exchange, NYSE Amex
and Nasdaq, with consolidated volumes totaling 12.99 billion
shares, compared with the year's estimated daily average of 7.8
billion. On the NYSE, for every 12 stocks that jumped up, only one
stock was on the losing side.
This highly volatile run of
the markets has etched its name in the record books, as the Dow has
never ever seen this amount of one-day percentage moves in the last
four trading days. This was the
blue-chip index’s fourth straight day of over 400-points of
movement, including the 423 points movement on Thursday. While some
preferred to call it a game of basketball, some opined it was a
bungee jump, and a few even thought the week’s movement had a
‘touch off an investor stampede’. The Dow gained 3.9% yesterday,
sank 4.6% on Wednesday, climbed 4% on Tuesday, and had plunged 5.6%
on Monday. Over the same period, the S&P 500 moved up 4.6%,
down 4.4%, again rose 4.7% and sank 6.7% a day before that. The
Nasdaq gained 4.7% yesterday, lost 4.1% on Wednesday, jumped 5.3%
on Tuesday and had plunged 6.9% on Monday.
As for the sectors, the
financial sector has also had a volatile run, swinging between
losses and gains over the past few trading days. On Thursday, the
Financial Select Sector SPDR (XLF) fund moved up 5.6%. Among the
gainers in the sector were The Goldman Sachs Group, Inc. (NYSE:GS),
JPMorgan Chase & Co. (NYSE:JPM), Bank of America Corporation
(NYSE:BAC), Citigroup, Inc. (NYSE:C) and Wells Fargo & Company
(NYSE:WFC) and they moved up by 7.0%, 6.8%, 7.1%, 6.3% and 6.2%,
respectively.
The markets have been
responding to every development, good or bad, resulting in
extremely wide swings. Luckily for the benchmarks, reports that
came in yesterday lifted sentiment, and staying true to the trend
the investors did take the benchmarks soaring higher. Most
importantly, it was jobs data that significantly boosted the
sentiment, reflecting lesser initial jobless claims and eliminating
fears of an economic downturn temporarily. Additionally, corporate
results, which have been highly subdued by the other major
happenings this season, came in strongly and added to the
cheer.
As for the jobs data, the
U.S. Department of Labor reported: “In the week ending August 6,
the advance figure for seasonally adjusted initial claims was
395,000, a decrease of 7,000 from the previous week's revised
figure of 402,000. The 4-week moving average was 405,000, a
decrease of 3,250 from the previous week's revised average of
408,250”. This also came in much lower than the consensus of 414,
000 initial jobless claims. THE jobs market is a highly significant
indicator of economic conditions and with such lesser jobless
claims, especially amid fears of a possible downturn, this surely
was a huge boost to the sentiment.
Joining the party was
quarterly results from tech bellwether Cisco Systems, Inc.
(NASDAQ:CSCO). The world's largest maker of computer equipment
reported better-than-expected results and surged 16.0%.
Additionally, NVIDIA Corporation (NASDAQ:NVDA) sprung 8.7% after it
announced a higher-than-expected revenue forecast. Other tech
shares like Advanced Micro Devices, Inc. (NYSE:AMD), Intel
Corporation (NASDAQ:INTC), Broadcom Corp. (NASDAQ:BRCM) and Dell
Inc. (NASDAQ:DELL) gained 5.5%, 4.2%, 5.6% and 7.8%,
respectively.
ADV MICRO DEV (AMD): Free Stock Analysis Report
BANK OF AMER CP (BAC): Free Stock Analysis Report
BROADCOM CORP-A (BRCM): Free Stock Analysis Report
CITIGROUP INC (C): Free Stock Analysis Report
CISCO SYSTEMS (CSCO): Free Stock Analysis Report
DELL INC (DELL): Free Stock Analysis Report
GOLDMAN SACHS (GS): Free Stock Analysis Report
INTEL CORP (INTC): Free Stock Analysis Report
JPMORGAN CHASE (JPM): Free Stock Analysis Report
NVIDIA CORP (NVDA): Free Stock Analysis Report
WELLS FARGO-NEW (WFC): Free Stock Analysis Report
Zacks Investment Research
Dell (NASDAQ:DELL)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
Dell (NASDAQ:DELL)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024