Wall Street cierra en verde por quinto día consecutivo

Fuente: Fox News

Friday, November 28, 2008
Bulls Back in Charge: Five in a Row
Matt Egan

*Wall Street didn't suffer a Thanksgiving hangover this Black Friday as the Dow closed in the green for the fifth consecutive day, easing the pain of a November investors won't want to remember.

Today's Market

The Dow Jones Industrial Average closed up 102.43 points, or 1.17%, to 8829.04, the S&P 500 added 8.56 points, or 0.96%, to 896.24 and the Nasdaq Composite picked up 3.47 points, or 0.23%, to 1535.57. The consumer-friendly FOX 50 gained 6.40 points, or 0.93%, to 697.38.

The five days of green on Wall Street mark the longest winning streak for the Dow since July 2007. Few would question any gains these days but Friday's rally came on roughly half the typical day's trading volume, a reflection of the holiday-shortened trading session.

A string of bullish factors have lifted the Dow nearly 1300 points in a week as Wall Street cheered the government's $800 billion intervention into the credit markets, the rescue of Citigroup (C) and the unveiling of President-elect Barack Obama's economic team. Analysts said the markets were also due for a rebound due to a wave of prolific selling amid the worst bear market in nearly a century.

The five days of green were not enough to erase all of the damage from this month's selling barrage. The Dow lost about 5% of its value this month, on pace for its worst November since 1987.

While the selling is nothing new as the index is off by 45% year-to-date, this latest three-month slide is the worst since the 31% plunge in the Sept.- Nov. period of 1987.

The Dow was carried higher by double-digit gains from General Motors (GM) and Citi, two of the index's worst-performing stocks this month. General Electric (GE) and Bank of America (BAC) also closed sharply higher, offsetting modest losses from Home Depot (HD) and Microsoft (MSFT).

The most surprising aspect of the rally is that it came in the face of countless signs indicating Black Friday and the holiday shopping season as a whole won't be pretty. Consumer spending suffered its worst performance in two years as sentiment and confidence have deteriorated to all-time lows due to an endless string of gloomy economic headlines.

With that in mind, the National Retail Federation predicted 128 million Americans will shop this weekend, down from the 135 million who sought discounts in 2007 during the retail world's most important weekend of the year.

Despite all of those bearish indicators, stocks rose Friday as an ugly shopping season is widely expected by Wall Street. That point has been underscored by the depressed levels of many retailer's stock prices. For example, department store Macy's (M) saw its stock plummet 40% in November and luxury jeweler Tiffany (TIG) lost 20% of its market value. Betting customers will be bargain hunting even more than in the past, discount retailers like Target (TGT) posted more modest declines.

Tech stocks weighed on the Nasdaq Composite, which saw more selling than the broader market. BlackBerry maker Research in Motion (RIMM) and online auction site eBay (EBAY) took some of the largest percentage declines on the Nasdaq 100, canceling out big gains from Yahoo! (YHOO) and SanDisk (SNDK).

The weakness in the tech sector comes after STMicro (STM), a Franco-Italian chipmaker, slashed its fourth-quarter sales and earnings guidance just a week after reaffirming its outlook. The company blamed a "recent slowdown" for its lower forecast, especially in the computer, cell phone and automotive sectors.

Crude oil futures didn't join in the equities rally, ending flat on the day but well off the lowest levels of the session. At the preliminary close, the price of a barrel of crude ended up 2 cents to $54.46. Earlier in the day crude had been as low as $51.12 a barrel.

The choppy trading comes ahead of a weekend summit of OPEC nations that may result in another production cut to fight plummeting price. Slammed by global recession fears, crude oil has lost two-thirds of its value since July, its worst price-collapse since futures trading began in 1981, according to The Wall Street Journal.

Corporate Movers

General Motors (GM) is looking to raise $257 million by selling real estate assets in Europe and ending leases as part of a plan aimed at saving $4 billion from asset sales, according to the Financial Times.

Royal Bank of Scottland (RBS) saw minimal demand for its rescue stock offering, forcing the British government to buy a 58% stake in the bank. The government’s new investment of $23 billion was expected after shares of RBS fell below the price in the stock offering

Yahoo! (YHOO) saw its shares rise after regulatory filings showed billionaire activist investor Carl Icahn bought 6.9 million shares of the Internet giant, upping his stake to 5.5%.

UBS (UBS) shareholders signed off on the Swiss banking giant’s plans to seek a rescue from the government. Also, Chairman Peter Kurer said he will return an additional $18.6 million in pay to the bank.

AstroZeneca’s (AZN) new infant lung drug motavizumab suffered a setback as the Anglo-Swedish drugmaker said Friday it received a letter requesting more information from the FDA.

Fuente: Bloomberg

*U.S. Stocks Gain, Capping S&P 500’s Best Weekly Rise Since 1974

By Elizabeth Stanton
Nov. 28 (Bloomberg) -- U.S. stocks gained, capping the biggest weekly advance for the Standard & Poor’s 500 Index in 34 years, on speculation that government bailouts will shore up the economy.

Citigroup Inc., which had $306 billion in troubled assets guaranteed by the government last weekend, rallied 18 percent for its fourth straight gain. General Motors Corp. climbed 8.9 percent and Ford Motor Co. surged 25 percent as the automakers considered cutting debt and labor costs to win federal aid. Target Corp. slumped 3.9 percent as retailers extended discounts to lure shoppers amid what is forecast to be the slowest holiday shopping season in six years.

“It’s going to be a really tough Christmas shopping season, but a lot of this is built into the stocks, and there is huge stimulus coming down the pipeline,” Alan Gayle, senior investment strategist at Ridgeworth Capital Management in Richmond, Virginia, said on Bloomberg Television. “We are cautiously bullish.” Ridgeworth manages $70 billion.

The S&P 500 climbed for a fifth day, adding 1 percent to 896.24 to complete its longest streak of gains since July 2007. The Dow Jones Industrial Average rallied 102.43 points, or 1.2 percent, to 8,829.04, while the Nasdaq Composite Index increased 0.2 percent to 1,535.57. Almost two stocks rose for each that fell on the New York Stock Exchange.

Best Week Since ‘74
The S&P 500 surged more than 12 percent this week, its best weekly performance since 1974, as the Federal Reserve committed as much as $800 billion to help resuscitate lending markets and investors speculated President-elect Barack Obama’s economic team will bolster growth. Obama said Nov. 26 that he will implement plans to shore up the economy on “day one” of his presidency.

About 787 million shares changed hands on the NYSE in the slowest trading session of the year. U.S. exchanges were shut yesterday for the Thanksgiving holiday and closed at 1 p.m. today.

The S&P 500 has rebounded 19 percent from an 11-year low last week. It is still down 43 percent from its October 2007 record as credit-related losses and writedowns at global financial companies approach $1 trillion. It fell 7.5 percent in November following a 17 percent slide in October that was the biggest monthly drop in 21 years. The main benchmark for American equities has dropped in nine of the past 12 months.

This week’s rally in U.S. stocks helped push the MSCI World Index of 23 developed markets up 12 percent since Nov. 21, the steepest weekly advance since data began in 1970.

Europe’s Rally
Europe’s benchmark index advanced for a fifth straight day, rallying 13 capping to cap the Dow Jones Stoxx 600 Index’s best week on record.

Citigroup rose the most in the Dow average, climbing $1.24 to $8.29. The shares have rebounded 120 percent since closing at a 15-year low of $3.77 on Nov. 21.

Bank of America Corp. advanced 5.3 percent to $16.25, while JPMorgan Chase & Co. rose 3.4 percent to $31.66.

The S&P 500 Financials Index rallied 2.9 percent for the biggest advance among 10 industries. The group has rebounded 36 percent since reaching a 13-year low on Nov. 20, trimming its 2008 loss to 56 percent.

General Motors and Ford advanced as GM studied whether to shed brands to save money as the industry seeks federal aid to avert bankruptcy. GM, the largest U.S. automaker, rose 43 cents to $5.24, the highest since Nov. 5. Ford climbed 54 cents to $2.69, the highest since Oct. 7.

People familiar with the matter said GM may get rid of its Saturn, Saab and Pontiac brands in addition to Hummer. GM’s other U.S. brands are Chevrolet, GMC, Buick and Cadillac.
Auto Bailout

The company faces a Dec. 2 deadline to give Congress a survival plan showing it can repay federal aid. Congress has scheduled a Dec. 5 hearing on a $25 billion auto-industry rescue and may vote the week of Dec. 8.

Obama yesterday said the U.S. faces a “time of great trial” and an economic recovery won’t come from “policies and plans alone.”

“It will take the hard work, innovation, service and strength of the American people” to end the financial crisis, he said yesterday in his weekly radio address.

Stocks also advanced as yields on Treasury securities declined to record lows, limiting the risk-free return available to investors who lend money to the U.S. government. The benchmark 10-year note’s yield touched 2.91 percent. The dividend yield on the S&P 500, which averaged 1.5 percent from 1997 through 2007, is about 3.4 percent, up from 2 percent at the end of last year.

Crude Slumps
Hess Corp., the fifth-largest U.S. oil company, lost $2.17 to $54.04 as the national average price for unleaded gasoline extended its decline, falling to $1.84 a gallon, the lowest since January 2005. Declining prices have yet to lift demand for gasoline, which slid 1.3 percent from last week, the Energy Department said in its weekly report.

Exxon Mobil Corp. and ConocoPhillips were the biggest drags on the S&P 500. Crude traded near the lowest since May 2005 even as OPEC members may consider a reduction at their meeting this weekend in Cairo to stabilize the market.

Energy companies in the S&P 500 fell 1.5 percent, the most among its 10 main industry groups. Chesapeake Energy Corp. slumped 15 percent to $17.18 for the biggest drop in the index. The second-largest independent U.S. producer of natural gas said it will seek to raise about $2 billion to finance projects and acquisitions by selling stock, spurring concern that earnings will be diluted on a per-share basis.

Tech, Consumer Concern
Intel Corp., whose chips run more than three-quarters of the world’s computers, lost 17 cents to $13.80 after European rival STMicroelectronics NV cut its sales forecast because of weakening demand.

STMicroelectronics said fourth-quarter sales will be $2.2 billion to $2.35 billion, down 13 percent to 18 percent from $2.7 billion in the previous quarter. The company had predicted sales being unchanged or falling 8 percent.

Consumer electronics companies ranging from Nokia Oyj, STMicroelectronics’ biggest customer, to Panasonic Corp. have slashed their forecasts this month as consumers buy fewer mobile-phones, flat-panel televisions and computers.

Target, the second-largest U.S. discount retailer, fell $1.37 to $33.76. Tiffany & Co., the world’s second-biggest luxury-jewelry retailer, lost 5.4 percent to $19.79. Amazon.com Inc., the world’s biggest Internet retailer, declined 2.9 percent to $42.70.

Wal-Mart Stores Inc., the world’s largest retailer, decreased 81 cents to $55.88.

Slower Spending
Individuals may spend an average of $616 on holiday gifts this year, down 29 percent from a year earlier, according to a Gallup Inc. poll. November and December sales at stores open at least a year may rise 1 percent, the smallest gain since 2002, according to the International Council of Shopping Centers, a New York-based trade group.

Retailers promoted “doorbuster” deals to attract customers today, the day traditionally called “Black Friday.” The day after Thanksgiving is considered to be when retailers start to make their annual profit, having paid off their costs from sales earlier in the year.

12:47 p.m.
Fuente: Finanzas

*Wall Street encadena cinco sesiones de subidas y termina con avance del 1,17%

La Bolsa de Nueva York encadenó hoy cinco sesiones consecutivas de ganancias, al cerrar con un avance del 1,17 por ciento en el índice Dow Jones de Industriales, que quedó en los 8.829,04 puntos.

Pese a los avances de los últimos días, ese índice, el más importante de Wall Street, cierra noviembre con un descenso mensual del 5,32 por ciento.

El mercado Nasdaq también acabó con un avance del 0,23 por ciento, hasta los 1.535,57 enteros, mientras que el S&P 500 terminó la semana con una subida del 0,96 por ciento, para quedar en las 896,24 unidades.

09:45 a.m.
Fuente: Finanzas

*Wall Street arranca con un avance del 0,07% tras cuatro sesiones de subidas
La Bolsa de Nueva York inició hoy la última sesión de noviembre con un nuevo, aunque tímido, avance del 0,07 por ciento en el índice Dow Jones de Industriales, tras cuatro sesiones consecutivas de subidas.

Ese índice, el más importante de Wall Street, ganaba hoy 6,3 puntos para rondar los 8.732 poco después de la apertura del mercado, que permaneció cerrado el jueves por la celebración del día de Acción de Gracias en Estados Unidos y que hoy solo estará abierto durante media jornada.

El mercado Nasdaq por contra bajaba el 0,57 por ciento, ya que perdía 8 puntos para rondar los 8.733, mientras que el selectivo S&P 500 subía el 0,1 por ciento y se situaba en los 888 puntos en los primeros minutos de cotización.

Con estos descensos comenzaba hoy Wall Street el llamado "Black Friday" (viernes negro), el día siguiente al jueves de Acción de Gracias y con el que se da el pistoletazo de salida a las rebajas de la temporada navideña.

La fecha recibe este nombre porque en teoría es el día en que los comerciantes pueden dejar la tinta roja con que se escriben los números negativos de las cuentas de resultados, para empezar a utilizar la negra gracias al impulso de las ventas navideñas.

Sin embargo, los expertos creen que este año el consumo estadounidense registrará un notorio descenso debido a la peor crisis que vive Estados Unidos desde hace décadas.
En una sesión que en se prevé un volumen más bajo de lo normal y no se publicarán datos macroeconómicos o resultados empresariales destacados, los bonos a diez años de deuda pública bajaban y su rentabilidad, que avanza en sentido contrario, avanzaba hasta el 2,99 por ciento.

Mientras, los contratos de Petróleo Intermedio de Texas, de referencia en Estados Unidos, subían en la Bolsa Mercantil de Nueva York (Nymex) el 7,23 por ciento respecto al precio de la sesión anterior, de forma que un barril de crudo (159 litros) se negociaba a 54,44 dólares, 3,67 más caro que el miércoles

Fuente: Economista

*Wall Street abre con descensos por minoristas y energéticas
El mercado operaba con poco volumen tras la festividad del día de Acción de Gracias y las ganancias de las jornadas anteriores.
NUEVA YORK, 28 nov (Reuters) - Wall Street abrió el viernes con ligeros descensos, presionado por el nerviosismo de los inversores ante el inicio de la temporada de ventas de fin de año en un contexto de desaceleración económica.

A las 1445 GMT, el promedio industrial Dow Jones subía un 0,03 por ciento a 8.730,53 unidades, mientras que el más amplio Standard & Poor's 500 se depreciaba un 0,11 por ciento a 886,23 puntos.

Por su parte, el selectivo tecnológico Nasdaq Composite bajaba un 0,83 por ciento a 1.519,29 unidades.

Fuente: Infoabe

*Wall Street reabrió volátil como el resto de las bolsas
El Dow Jones y el Nasdaq pierden 0,05% en la apertura. El Merval también cae 0,5 por ciento. La bolsa de San Pablo gana 2,2 por ciento. Las plazas de Europa registran bajas. El dólar cotiza a $3,38 para la venta

Los mercados operan con cautela y registran altibajos a la espera de la reapertura de Wall Street, que ayer no operó por las celebraciones del Día de Acción de Gracias.

La Bolsa de Comercio de Buenos Aires inició la sesión de hoy, viernes, con un leve retroceso de 0,5% en su principal indicador, el Merval.

En Brasil, la plaza de San Pablo opera con volatilidad y el Bovespa ahora sube 2,2 por ciento.

Los mercados de Europa registran leves retrocesos por el descenso de las acciones de las petroleras que contrarrestaba la subida de los valores mineros, con los inversores pendientes de la inflación de la zona euro y la reunión de algunos productores de petróleo el fin de semana.

Las petroleras negociaban con pérdidas. Las acciones de BP caían un 0,66%, mientras que las de Total perdían un 1,3% por el recorte del barril de crudo a menos de 53,50 dólares. Shell ganaba un 0,43 por ciento. Las mineras subían, registrándose ganancias de 2,46% en BHP Billiton y de 1,31% en Vedanta .

El Banco de Inglaterra y el Banco Central Europeo anunciarán la semana próxima sus decisiones sobre las tasas de interés. El mercado contaba con una relajación monetaria de las dos entidades para intentar aliviar la crisis económica actual.

"Los recortes de tipos no tendrán un impacto inmediato en los mercados. Necesitará tiempo", expresó Neil Parker, estratega del Royal Bank of Scotland.

Además, los inversores estaban atentos a la inflación en la zona euro, dato que se conocerá a las 1000 GMT, y a una reunión de la OPEP que se llevará a cabo durante el fin de semana.

La Bolsa de Valores de Tokio cerró hoy en alza, debido a que los inversores consideran positivas las medidas adoptadas por varios gobiernos en todo el mundo para hacer frente a la crisis económica global.

El índice Nikkei, que agrupa las 225 principales acciones de la bolsa de Tokio, sumó 138,88 puntos, 1,66%, hasta las 8.512,27 unidades, mientras que el índice Topix, más amplio, avanzó 5,79 puntos, 0,7%, para cerrar en 834,82 enteros.

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