Extending earlier losses, futures for the Dow Jones Industrial Average DJH4 -0.93% fell 160 points, or 1%, to 15,574, while futures for the Standard & Poor’s 500 index SPH4 -0.24% dropped 17 points, or 1%, to 1,764.20. Strategists have been focusing on the 1,770 level as key support for that index. Futures for the Nasdaq-100 index NDH4 -0.36% fell 15.5 points, or 0.4%, to 3,486.50. Click Here To Register For Free Trial Services
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Microsoft Inc. MSFT +0.79% shares rose 1.1% to $37.25 following a report that Satya Nadella, the company’s enterprise and cloud chief, will be named as chief executive. Yahoo Inc. YHOO -0.09% shares were off by 0.9% at $34.98 after the search company took to its Tumblr blog to announce that hackers had tried to break into an undisclosed number of email accounts through a coordinated effort. Click Here To Register For Free Trial Services
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Google GOOG +4.15% shares rose 4.2% to $1,183 on heavy volume, with much of that boost coming as the Q&A period on the company’s earnings conference call started. Read MarketWatch’s blog covering Google’s analyst call. Google shares closed up 2.6% Thursday, charged by the late Wednesday announcement that the company is selling Motorola to Lenovo. Click Here To Register For Free Trial Services
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Natural-gas futures on Tuesday recouped much of what they lost a day earlier, as severe cold weather and expectations for more ahead raised concerns over U.S. supplies of the heating fuel. Oil futures, meanwhile, rallied too ahead of the week's updates on U.S. petroleum supplies. February natural gas NGG14 -1.53% added 19 cents, or 3.8%, to settle at $5.03 per million British thermal units after losing 6.5% on Monday. March crude CLH4 -0.11% finished up $1.69, or 1.8%, at $97.41 a barrel. Click Here To Register For Free Trial Services
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In electronic trading, gold futures for February delivery GCG4 -0.29% shed $6.40, or 0.5%, to $1,256.90 an ounce. March silver SIH4 +0.06% held steady at $19.79 an ounce. Gold on Monday finally ran out of gas, logging its first decline in three sessions, but still managed to finish above the day’s lows thanks to a still-struggling U.S. stock market. Click Here To Register For Free Trial Services
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Hong Kong’s Hang Seng Index was down less than 0.1%, and Singapore’s Straits Times Index was also down less than 0.1%.
Global markets have been under pressure since last Thursday, when data pointed to a contraction in China’s manufacturing sector. This started selling in many emerging markets, with countries such as Turkey and Argentina in focus, which then spread to developed markets like the U.S. and Japan. Click Here To Register For Free Trial Services
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The Nikkei Stock Average JP:NIK -2.55% fell 2.5% to 15,007.72, and the broader Topix dropped 2.5% to 1,233.55. Stocks also came under pressure as the U.S. dollar briefly dipped below the 102-yen level ahead of the start of equity trading on Monday. Stock losses were broad-based, with industrial major Komatsu Ltd. JP:6301 -3.74% KMTUF +3.24% lower by 3.4%, Sony Corp. JP:6758 -2.84% SNE -0.42% down 3.2%, and Japan Airlines Co. JP:9201 -3.25% off 2.3%. Japanese companies are slated to begin rolling out quarterly results this week.
A Nikkei newspaper report Monday said a weaker yen will be one of the factors to contribute to record operating profits at Subaru-brand vehicle maker Fuji Heavy Industries Ltd. JP:7270 -2.41% FUJHF -0.71% , Hino Motors Ltd. JP:7205 -4.87% HINOY -0.95% and Isuzu Motors Ltd. JP:7202 -2.40% ISUZF +0.83% for the nine months ended Dec. 31. But shares of the auto makers were caught up in the selloff, with Hino losing 4.2%, Fuji Heavy giving up 3% and Isuzu shedding 1.4%. Click Here To Register For Free Trial Services
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The Dow Jones Industrial Average DJIA -1.97% , which was down 267 points, or 1.7%, in recent activity, was on track to lose 3.3% for the week, its worst percentage weekly loss since the week ended May 18, 2012. The S&P 500 Index SPX -2.09% fell 33 points, or 1.8%, on the day, and was down 2.4% for the week. For the week, the VIX was up 41%, its largest weekly gain since the week ending July 29, 2011. Click Here To Register For Free Trial Services
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Weighing on techs, shares of Apple Inc. AAPL +0.21% were pointing lower in thin premarket trade. Rival Samsung Electronics Co. KR:005930 +0.62% forecast a weak first half after fourth-quarter earnings showed a sharp slowdown in growth. See Will Samsung outlook spook or rally Apple investors? Click Here To Register For Free Trial Services
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Shares of Microsoft rose 4% to $37.51 on very heavy volume after the company reported adjusted fiscal second-quarter earnings of 78 cents a share on revenue of $24.52 billion, while analysts surveyed by FactSet expected 68 cents a share on revenue of $23.66 billion. Investors keen to hear whether Microsoft has made progress in naming a successor to Chief Executive Steve Ballmer were disappointed. Analysts on the company’s conference call didn’t ask anything about Ballmer’s replacement. Read our live blog of the call. Click Here To Register For Free Trial Services
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Futures for the Dow Jones Industrial Average DJH4 +0.06% fell 103 points, or 0.6%, to 16,214, while those for the S&P 500 SPH4 +0.11% dropped 9.4 points, or 0.5%, to 1,829.20. Futures for the Nasdaq 100 NDH4 +0.15% were down 13 points, or 0.4%, at 3,607.50. Click Here To Register For Free Trial Services
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Gold for February deliver GCG4 -0.32% dipped $5.30, or 0.4%, to $1,233.50 an ounce. March silver SIH4 -0.55% lost 13 cents, or 0.7%, to $19.71 an ounce. There hasn’t been much in the way of economic data to push and pull gold prices, but that could change on Thursday, with weekly jobless claims, the Markit “flash” U.S. PMI, existing home sales and leading indicators all set to be reported. Read: Spotlight on the economy . Click Here To Register For Free Trial Services
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Platinum for April delivery PLJ4 +2.27% jumped $14.90, or 1%, to $1,469.00 an ounce. Members of South Africa’s Association of Mineworkers and Construction Union (AMCU) over the weekend reportedly voted to strike this Thursday at the world’s top platinum producer, Anglo American Platinum Ltd. ZA:AMS +0.46% , as well as Lonmin PLC UK:LMI +2.88% and Impala Platinum Holdings Ltd. ZA:IMP +2.92% ZA:IMP +2.92% ZA:IMP +2.92% . Click Here To Register For Free Trial Services
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While Facebook FB +0.09% struggles with declining traffic among U.S. teens, China’s most popular social-media channel — a group of Twitter-like microblog services, known collectively as “weibo” — is facing a similar or even worse problem, as it is bleeding users moving to instant-messaging apps on mobile phone platforms. Click Here To Register For Free Trial Services
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Gold for February delivery GCG4 +1.55% added $17.50, or 1.4%, to settle at $1,246.90 an ounce on the Comex division of the New York Mercantile Exchange. Prices saw their highest settlement since Dec. 11 and gained 0.7% for the week, according to FactSet data tracking the most-active contracts. Click Here To Register For Free Trial Services
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After a choppy trading session, the S&P 500 index SPX +0.23% gained 4.24 points, or 0.2%, to 1,842.37, leaving it up 0.6% on the week, its first weekly gain this year.
The utilities sector was the top gainer, rising 1.4%. The Nasdaq Composite COMP +0.44% gained 18.47 points, or 0.4%, to 4,174.66 and added 1% for the week, its first weekly gain this year. Click Here To Register For Free Trial Services
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The S&P 500 SPX +0.23% managed a fractional gain on Thursday, but the Dow DJIA -0.05% and Nasdaq Composite COMP +0.44% dropped as shares of big telecom companies fell. Shares of Alcoa Inc. AA -0.10% fell nearly 7% in premarket trade after the aluminum producer reported quarterly earnings that fell short of expectations.
Shares of Sears Holdings Corp. SHLD +0.52% were off more than 13% in premarket action, after the retailer reported weak holiday sales and a quarterly forecast well below Wall Street expectations late Thursday. Click Here To Register For Free Trial Services
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The Hang Seng Index HK:HSI +0.34% reversed course and rose 0.2% to 22,841.80, and the Hang Seng China Enterprises Index edged up 0.1%. But underperforming the market were shares of Standard Chartered PLC HK:2888 -1.55% UK:STAN -2.17% , which fell 1.6% in the wake of the bank's plan to shake up operations, with the integration of its wholesale banking and consumer banking businesses. Shares of banking firm HSBC Holdings PLC HK:5 +0.06% , however, rose 0.3%, limiting downside for the Hang Seng Index. Meanwhile, shares of Aluminum Corp. of China Ltd., or Chalco HK:2600 -1.15% ACH +0.12% CN:601600 +1.59% , shed 0.8% after aluminum producer Alcoa Inc.'s AA -4.30% quarterly results missed Wall Street expectations. On the mainland, the Shanghai Composite Index CN:SHCOMP -0.49% rose 0.3%. Click Here To Register For Free Trial Services
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Singapore shares snapped a three-day losing streak on Wednesday, on course for their biggest daily gain in nearly three weeks after robust trade data raised expectations for U.S. growth.
The benchmark Straits Times Index was up 0.5% at 3,141.22 by 12:20 p.m., in line with a 0.4% gain in the MSCI’s broadest index of Asia-Pacific shares outside Japan.
Food and beverage company Thai Beverage Pcl advanced as much as 1.9% to $0.55, while DBS Group Holdings climbed as much as 1.5% to a more than four-month high at $17.30.
Singapore’s biggest bank, DBS, also topped the list of most traded stocks by value on Wednesday with more than 1.9 million shares traded. Brokerage CIMB’s recommended it as its top sector pick in a research note on Tuesday.
Among other stocks, shares of Tiger Airways fell 1% to $0.51. The budget airline confirmed a strategic alliance with Cebu Air and said it would sell its entire 40% stake in Tigerair Philippines to the country's largest budget carrier Cebu Air for US$6 million ($7.6 million). Click Here To Register For Free Trial Services
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Twitter Inc. TWTR -0.31% shares gave up more than 7%, to close at $61.46 and add to Monday’s losses, which were spurred on by Morgan Stanley’s Devitt cutting his rating on the company. Late Tuesday, Twitter said it would take questions in the form of tweets on its upcoming earnings conference call. Click Here To Register For Free Trial Services
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