Thereisnolackofhistoricaleventsin2008,atleasttopeopleonWallStreet.Followingthebiggestsingle-daypriceincreaseinthehistoryoftheNymex,crudere-wrotethehistorytodaybyjumpinganother$10.75andsettledat$138.54,anewhistoricalhigh.However,stockinvestorswerenotthatlucky.Afteryesterdaywitnessingthebestdayinmorethanamonth,themarkettodayhaditsworstdayinmorethan3monthswithallthreemajorindicesclosedlowerbyaround3%...[
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Themarkethaditsbestdayinmorethanamonthasallthreemajorindicesgainedmorethan1.5%.Moreimportant,ithappenedinadaywithcrudeoilhavingthebiggestone-dayjumpintermsofdollarvalueandtwobiggestbondinsurersseeingtheirratingscutbytheS&P.Thenewsontheeconomicfrontwasmostlypositive.Initialjoblessclaimscameat357Kcomparedto372Kexpectedandcontinuingclaimsdecreasedto3.093millionfrom3.109millioninthepreviousweek.Wealso...[
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Themarketfinallybrokeitslosingstreakandendedthesessionmixed.TheNasdaqcontinueditsleadingrolerecentlyandadvancedalmost1%whileboththeDowandtheS&P500closedlowerfractionally.Thenewsontheeconomicfrontwasmostlybetterthanexpected.TheproductivityfigureforQ1wasrevisedslightlyhigherto2.6%from2.5%.Atthesametime,labourcostsclimbedatarevised2.2%pace,matchingthepreviousestimationanddownfroma4.7%increaseinQ42007...[
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Themarketcontinuedtolosegroundamidrenewedconcernoverfinancialindustry.Allthreemajorindicesclosedthesessionloweralthoughtheywerewellofftheirintradaytrough.Thenewsontheeconomicfrontwasactuallybetterthanexpected.ThefactoryordersforAprilunexpectedjumped1.1%followinganupwardrevised1.5%gaininthepreviousmonth.Inaddition,booksalsoincreasedatahealthyrateof2.6%.Thebetter-than-expectedfactoryordersreportagai...[
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Themarketdidn’tgiveinvestorsapleasantnew-monthsurpriselikeitdidineachoftheprevioustwomonths.Instead,allthreemajorindicesendedthefirstsessionofJunelowerbymorethan1%.Thenewsontheeconomicfrontactuallycameslightlybetterthanexpected.TheMayISMindex,whichisanationalmanufacturingsurvey,increased2.1%to49.6whileeconomistsexpectedaflatreading.Diggingalittledeeper,wecanseethatexportsincreasedto59.5from57.5;i...[
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ThemarketfinishedthelasttradingsessionofMayinamixedfashion.TheNasdaqcontinueditsrecentstrengthandpostedagainofaround0.5%whiletheDowgavebacklessthan0.1%.Forthemonth,thediscrepancyismoredistincthowever.TheDow,draggedbycomponentssuchasGMandAIG,fell1.4%.TheNasdaq,ontheotherhand,rose4.6%whiletheS&P500wassomewhatinthemiddlewith1.1%gainforthemonth.Similartoyesterday,thenewsontheeconomicfrontwasmoreorless...[
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Themarketadvancedforthethirdconsecutivesessionalthoughitwaswelloffitshighsattheclose.BoththeDowandtheS&P500gainedaround0.5%whiletheNasdaqcontinueditsrecentstrengthandregisteredagainof0.9%.Thenewsontheeconomicfrontwasmoreorlessinlinewithexpectation.Initialjoblessclaimsincreased4Kto372Kinthelatestreportingweek.Continuingclaims,ontheotherhand,climbed36Kto3.104million.Itshouldbenotedthatwhileinitialcl...[
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Themarketmanagedtocloseataroundthehighestlevelforthesecondstraightsession.However,thegainwasmodestasnoneofthemajorthreeindicesadvancedmorethan0.4%.Wehadsomegoodnewsonthemanufacturingfront.Thedurableordersexcludingtransportationrose2.5%,thebestsincelastJuly.Arecord28%increaseinordersforelectricalequipmentwasthemainreasonbehindtoday’spositivereport.Inaddition,bookingsfornon-defencecapitalgoodsexclu...[
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ThemarketclosedmodestlyhigherfollowingtheMemorialDayholiday.TheNasdaq,whichhasoutperformedtherestofthemarketrecently,continueditstrendandpostedagainof1.50%.Incontrast,neithertheDownortheS&P500wasabletofetchhalfofthatamount.Thevolumewasonthelightsideassometraderswerenotbackfromvacationyet.Thenewsontheeconomicfrontwasmixed.New-homesalesinAprilunexpectedrose3.3%toanannualrateof526Kfromarevised509Krat...[
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Themarketfinishedthelasttradingsessionbeforetheholidayweekendinadownbeattone.TheDowlostmorethan140pointstoday.Fortheweek,itwasoffbymorethan500points,resultinginoneoftheworstweeksinmorethan3months.TheS&Pdidn’tfaremuchbettereither.Itendedthesessionlowerby1.3%andfortheweek,itwasoffby3.5%.Therewasnoobviousreasonbehindtoday’ssharpselloffotherthanmaybesomeinvestorssimplydidn’twanttoholdpositionsovert...[
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