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Markets rose despite poor Q1 GDP as a raft of positive economic data suggests pent up demand for the second quarter. Home sales were disappointing though jobless claims fell more than expected.
The S&P appeared set to notch another record high on Wednesday but slipped in the final minutes of trade to close lower. The Nasdaq and Dow also recorded losses.
The S&P 500 closed at a new record amid and risk indicators were clearly positive: financials, small caps and techs gained while gold slumped.
U.S. markets closed higher Thursday after the release of better manufacturing data and a rise in existing home sales, which offset higher jobless claims.
Stocks closed higher after Fed Reserve minutes confirmed a brighter U.S. economic outlook albeit with the caveats around the domestic housing outlook.
Indices fell on disappointing earnings from retailers such as Staples and Urban Outfitters on Tuesday while small caps relinquished Monday's gains, shedding almost 2%.
U.S. closed sharply lower Thursday amid mixed economic data, while retail stocks fell on disappointing earnings. Walmart and Kohl's both failed to meet revenue expectations.
U.S. stocks closed lower Wednesday after markets posted two days of record highs. Small caps were lower again along with tech stocks - crucial bellwethers of investor risk appetite.
The Dow Jones and S&P closed at record highs again on Tuesday, the S&P flirting with 1,900 but failing to hold that level at the close.
The Dow Jones and S&P 500 both closed at fresh record highs as tech stocks rebounded, small caps jumped, and China announced a raft of capital markets reforms.