Stock Market Today: JPMorgan Chase Escapes Criminal Indictment
IHS beat analysts’ estimates on both the top and bottom line in the quarter as organic sales growth in its subscription business clocked in at a solid 7%. The company’s new outlook for the next year targeted revenue growth of about 20%, to $2.2 billion, which is even with Wall Street’s expectations. The stock is up 4.3% in premarket trading. Finally, Commercial Metals today announced results for its fiscal first quarter that included flat sales of $1.7 billion and earnings of $0.39 a share, a 7% dip from last year’s tally. The metal producer’s profitability was pinched by falling prices for nonferrous metals in the quarter, but overall results were still much improved over the previous quarter, when the company booked just $0.03 a share in profit.
Stock Market Closes Higher As Techs Lead
By that analysis, the stock market’s performance for all of January signals how the stock market will perform for the year. The January barometer has been right for 62 or the last 85 years, or 72.9 percent of the time, according to Howard Silverblatt, a senior index analyst at S&P Dow Jones Indices. Phone companies have sagged the most in the S&P 500 so far in 2014, dropping 2 percent. Consumer staples, a group that includes grocers, brewers and tobacco stocks, are the second-worst performers, dropping 1.9 percent.
today hot stocks SouFun Holdings ( SFUN ) surged 9% to a new high. The stock is in the upper edge of a sharply rising price channel, so a pullback would not be surprising at this stage. SouFun was already extended after finding support at the 10-week moving average. Green Mountain Coffee Roasters ( GMCR ) broke out of a cup with handle. The maker of the Keurig brewing systems jumped 4%, closing above a 77.68 buy point.
Stock Market’s Slow Start May Bode Ill for 2014
A. Bank (NASDAQ: JOSB ) , and Ford (NYSE: F ) . JPMorgan will pay $2 billion to settle a criminal investigation into its role in the Bernie Madoff Ponzi scheme, according to reports this morning in The New York Times and The Wall Street Journal. That price tag will bring the total amount that the bank has paid out to settle government investigations this past year to a whopping $20 billion.
Are you late to the stock market party?
Just beware fair weather friends and any signs it’s time to leave… For U.S. stocks, 2013 saw the best return in 15 years , as the value of world markets increased by over $6 trillion and the amount of money investors ploughed into equity funds hit record levels. While optimism has bred yet more optimism, these are the questions that all investors should be asking at this point: How crowded is the party?