Extended gains ahead of jobs report
Stocks were supported by better-than-expected sales from major U.S. retailers and an increase in pending home sales. The market could rally after Labor Day if today’s jobs report is within expectations. Investors are eager to see signs that private sector employers could begin hiring again. HP raised its offer to buy data storage company 3PAR [...]
Cheered signs of strength in manufacturing
Stocks rallied right out of the gate as investors welcomed a rebound in Chinese manufacturing and an unexpectedly strong report on U.S. manufacturing activity. The rally was broad-based. Apple was up 2.8% as the company held its annual music-themed special event. The focus shifts to jobs this morning when the government’s report on [...]
Choppy trading
Stocks were supported earlier in the session by a larger-than-expected rise in consumer confidence and a jump in U.S. home prices. But the tone turned bearish as investors weighed meeting minutes from the Federal Reserve against upbeat economic reports. They are worried that the weak job market will continue to weigh on consumer spending — [...]
Slipped on recovery fears
The market erased earlier gains as worries about a sputtering economy overshadowed a better-than-expected report on jobless claims. An earlier bounce lost steam as investors turned their focus to the economy, bracing for the latest reading on second-quarter gross domestic product due early Friday. Dell said data-storage company 3PAR has accepted its $1.6 billion [...]
Ended lower in thin trading
A worse-than-expected plunge in existing home sales reignited fears about an economic slowdown. Declines were led by tech, finance and healthcare stocks. Some bargain hunting helped the indexes ease off lows. The market approached short-term oversold levels. Dell is preparing to sweeten its offer for 3PAR. Shares of 3PAR gained 3.6%, while Dell fell 3%. [...]
