Post by kevinfelixlee on Apr 6, 2011 1:58:25 GMT -5
NEW YORK (Dow Jones)-U.S. blue-chip stocks clung to small gains Monday afternoon, as investors debated the impact of rising prices for oil and other commodities runescape gold as well as the outlook for U.S. monetary policy.
The Dow Jones Industrial Average rose 14 points, or 0.1%, to 12391 in afternoon trading, led by Wal-Mart Stores, which gained 1.1% on a report that it is considering selling groceries online, and Johnson & Johnson, which climbed 1%.
The Standard & Poor's 500-stock index edged down a fraction to 1332, as technology stocks' losses were kept in check by the materials and health-care sectors. The Nasdaq Composite also slipped a fraction, to 2788. Volume was thin, with about 1.7 billion rs gold shares changing hands nearing 1 p.m. ET.
Investors are looking for direction from several Federal Reserve officials scheduled to speak this week, highlighted by Fed Chairman Ben Bernanke at 7:15 p.m. EDT. Last week brought hawkish commentary runescape money from Fed officials, which prompted more investors to consider when a policy shift might occur.
"There's some uncertainty out there. You get the sense that we're in the last innings" of the central bank's policy deliberations, said Matthew Keator, partner at the Keator Group in Lenox, Mass.
Atlanta Fed President Dennis Lockhart, who spoke earlier Monday, made no mention of the U.S. interest-rate outlook, but said the economy was undergoing a "great rebalancing," supported by expansionary monetary policies, that will likely entail muted consumer spending.
Investors are also somewhat wary of taking action now in case companies begin to pre-announce earnings, which can help set the tone for the upcoming reporting period.
"With global events being the driver lately plus higher energy prices, those will probably be pointed to as reasons some companies may not make their earnings reports," Jay Leupp, President and portfolio manager at Grubb & Ellis AGA Mutual Funds said. While Leupp said he expects runescape items most reports will surprise modestly to the upside, investors were holding back, watching to see which companies raise or lower expectations.
Demand for Treasurys was higher, with yield on the 10-year note falling to 3.41%.
Meanwhile, crude oil futures traded above $108 a barrel after reaching a fresh 2 1/2-year high earlier in the session.
The U.S. dollar gained against the euro. The European currency was trading recently at $1.4216, down from $1.4223 late Friday in New York. The dollar slipped against the yen, trading at Y83.97 recently, compared with Y84.10.
Among stocks in focus, Southwest Airlines dropped 2.8% after the Texas-based airline canceled more than 50 flights Monday. It continued to inspect its fleet of Boeing 737-300 jetliners for fuselage cracks, which have been found in at least three other 737-300 jets, according runescape accounts to the National Transportation Safety Board, which is supervising the inspections. Boeing slipped 0.3%.
Pfizer added 0.8% after the company sold its Capsugel unit to Kohlberg Kravis Roberts.
General Dynamics dropped 5.7% after a Gulfstream G650, made by its Gulfstream Aerospace unit, crashed during a flight test Saturday, killing the four people on board.
Vivus climbed 8.9% after it said patients treated with the investigational drug QNEXA showed reductions in blood pressure.
BP's U.S.-listed shares advanced 0.2% after the U.K. oil company said it agreed to sell its ARCO Aluminum unit to a group of Japanese investors for $680 million in cash. In addition, the company is pursuing permits to resume drilling in the Gulf of Mexico this summer.
McCormick & Schmick's Seafood Restaurants Inc. surged 29% after Landry's Restaurants Inc. founder and Chief Executive Officer Tilman J. Fertitta offered to buy the dining company for $137.2 million.
Molycorp gained 11% after the rare-earth mining company said it acquired a 90% stake in rare-earth processing company AS Silmet, an $89 million deal that gives Molycorp a foothold in Europe and doubles its production capacity.
The Dow Jones Industrial Average rose 14 points, or 0.1%, to 12391 in afternoon trading, led by Wal-Mart Stores, which gained 1.1% on a report that it is considering selling groceries online, and Johnson & Johnson, which climbed 1%.
The Standard & Poor's 500-stock index edged down a fraction to 1332, as technology stocks' losses were kept in check by the materials and health-care sectors. The Nasdaq Composite also slipped a fraction, to 2788. Volume was thin, with about 1.7 billion rs gold shares changing hands nearing 1 p.m. ET.
Investors are looking for direction from several Federal Reserve officials scheduled to speak this week, highlighted by Fed Chairman Ben Bernanke at 7:15 p.m. EDT. Last week brought hawkish commentary runescape money from Fed officials, which prompted more investors to consider when a policy shift might occur.
"There's some uncertainty out there. You get the sense that we're in the last innings" of the central bank's policy deliberations, said Matthew Keator, partner at the Keator Group in Lenox, Mass.
Atlanta Fed President Dennis Lockhart, who spoke earlier Monday, made no mention of the U.S. interest-rate outlook, but said the economy was undergoing a "great rebalancing," supported by expansionary monetary policies, that will likely entail muted consumer spending.
Investors are also somewhat wary of taking action now in case companies begin to pre-announce earnings, which can help set the tone for the upcoming reporting period.
"With global events being the driver lately plus higher energy prices, those will probably be pointed to as reasons some companies may not make their earnings reports," Jay Leupp, President and portfolio manager at Grubb & Ellis AGA Mutual Funds said. While Leupp said he expects runescape items most reports will surprise modestly to the upside, investors were holding back, watching to see which companies raise or lower expectations.
Demand for Treasurys was higher, with yield on the 10-year note falling to 3.41%.
Meanwhile, crude oil futures traded above $108 a barrel after reaching a fresh 2 1/2-year high earlier in the session.
The U.S. dollar gained against the euro. The European currency was trading recently at $1.4216, down from $1.4223 late Friday in New York. The dollar slipped against the yen, trading at Y83.97 recently, compared with Y84.10.
Among stocks in focus, Southwest Airlines dropped 2.8% after the Texas-based airline canceled more than 50 flights Monday. It continued to inspect its fleet of Boeing 737-300 jetliners for fuselage cracks, which have been found in at least three other 737-300 jets, according runescape accounts to the National Transportation Safety Board, which is supervising the inspections. Boeing slipped 0.3%.
Pfizer added 0.8% after the company sold its Capsugel unit to Kohlberg Kravis Roberts.
General Dynamics dropped 5.7% after a Gulfstream G650, made by its Gulfstream Aerospace unit, crashed during a flight test Saturday, killing the four people on board.
Vivus climbed 8.9% after it said patients treated with the investigational drug QNEXA showed reductions in blood pressure.
BP's U.S.-listed shares advanced 0.2% after the U.K. oil company said it agreed to sell its ARCO Aluminum unit to a group of Japanese investors for $680 million in cash. In addition, the company is pursuing permits to resume drilling in the Gulf of Mexico this summer.
McCormick & Schmick's Seafood Restaurants Inc. surged 29% after Landry's Restaurants Inc. founder and Chief Executive Officer Tilman J. Fertitta offered to buy the dining company for $137.2 million.
Molycorp gained 11% after the rare-earth mining company said it acquired a 90% stake in rare-earth processing company AS Silmet, an $89 million deal that gives Molycorp a foothold in Europe and doubles its production capacity.