September 5, 2014 Financial News – Business News – Stock Exchange – NYSE – Market News

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Business News – Financial News – Stock News — New York Stock Exchange — Market News 2014

Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2014

This was a holiday week; U.S. markets were closed on Monday for Labor Day. Investors returned on Tuesday after the long weekend, but the first trading session of the week wasn’t a great start for U.S. stocks. The S&P hit a new intraday record early on, but then slipped along with the Dow Jones, on pressure points from lingering geopolitics. Home Depot (NYSE: HD) declined after the retailer confirmed it could be the latest victim to have been hit by a massive credit-card breach. Despite negative market reactions, the economic reports on Tuesday were fantastic. The ISM manufacturing index for August climbed to a reading of 59, marking the best level in 3 years. Separately, the Commerce Department reported construction spending rose 1.8 percent in July.

Much like Tuesday, stocks were again mixed on Wednesday, coming off early highs as investors bypassed economic reports and instead focused on geopolitics. There was some good news coming out of Russia and Ukraine, emerging markets rallied after Vladimir Putin proposed a peace plan. Investors cheered after Russia outlined peace terms with Ukraine on steps toward a cease-fire, but people soon realized not too much has changed over there and the situation in Eastern Ukraine continued to be a major concern for the U.S. markets. Moving on, the Fed’s Beige Book, a survey based on reports from the 12 regional banks, showed the U.S. economy continued to expand during the summer.

Automakers reported a 5.5 percent rise in U.S. sales, which hit 17.53 million in August. Factory goods orders jumped 10.5 percent in July, the largest gain since records began in 1992, but the Dow and the 10-year didn’t move much on the headline. Apple (NASDAQ: AAPL) had its worst day in over 7 months as shares lost more than 4 percent, sending the S&P lower and NASDAQ down .6 percent.

On Thursday the ECB lowered its benchmark interest rate to .05 percent. But stocks declined for a third straight day, erasing record-setting gains in a late-session shift as optimism over ECB’s action faded away. The ADP employment report found the private sector added 204,000 jobs in August. And Jobless claims were up slightly to 302,000 last week. The U.S. trade deficit narrowed in July to a six-month low as exports rose to a record.

On Friday, U.S. markets opened drastically lower when the Labor Department reported Nonfarm payrolls added only 142,000 jobs, even as the jobless rate declined to 6.1 percent. This was a huge surprise to the market; Wall Street might have some trouble dissecting what to do with this number.

Now let’s take a look at some stocks.

September 5, 2014 Weekly Stock Market Wrap up:

Home Depot (NYSE: HD)
Apple (NASDAQ: AAPL)
Family Dollar (NYSE: FD)
Dollar General (NYSE: DG)
Aerospace giant Boeing (NYSE: BA)
GoPro (NASDAQ: GPRO)
J.P. Morgan (NYSE: JPM)

Business News – Financial News – Stock Exchange – New York Stock Exchange — Wall Street — Market News 2014 http://www.financialbuzz.com

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