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| Subject: U.S. stocks drop on durable goods, energyU.S. stocks tumbled | |
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Author: Wednesday,March 28, 2012, 1:12 p.m. EDT Week 13 |
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Date Posted: 10:57:52 03/28/12 Wed In reply to: Wednesday March 28th 2012 's message, "Open 176.5==high 180.5==low 176.5=Volume=9,201,523=VWAP=1.793" on 10:36:03 03/28/12 Wed Bulletin Get news bulletins by email » Follow live blog of the House hearing on the collapse of MF Global at 2 p.m. Eastern Home News Viewer Markets Investing Personal Finance Industries Economy/Politics Trading Deck Jobs Log In Games Alerts Portfolio Market Snapshot Archives | Email alerts March 28, 2012, 1:12 p.m. EDT U.S. stocks drop on durable goods, energy Oil sinks 2% after emergency-reserve talk, rise in inventories 38 Comments Share Digg Yahoo! Buzz MySpace del.icio.us Reddit LinkedIn Fark StumbleUpon Newsvine newPortfolio Relevance LEARN MOREWant to see how this story relates to your portfolio? Just add items to create a portfolio now: XAddDow Jones Industrial Average (DJIA)XAddDAX Performance Index (DAX)Add Create Portfolio or Cancel Already have a portfolio? Log In By Laura Mandaro, MarketWatch SAN FRANCISCO (MarketWatch) — U.S. stocks tumbled Wednesday, adding to losses as investors dumped energy and other stocks closely tied to global growth, after a disappointing report on durable-goods orders and as oil futures lost 2.2% on supply concerns. The Dow Jones Industrial Average /quotes/zigman/627449 DJIA -0.80% lost more than 100 points and was recently down 81 points, or 0.6%, at 13,117, with Caterpillar Inc. /quotes/zigman/221644/quotes/nls/cat CAT -3.88% weighing the most in points and percentage terms. Alcoa Inc. /quotes/zigman/246295/quotes/nls/aa AA -2.24% shares were the second-worst percentage loser, falling 2.4%. Click to Play Bank 'assured' on MF transfersMF Global CEO Jon Corzine was in contact with J.P. Morgan about a large transfer of customer funds to the bank before the firm collapsed, Mike Spector reports. (Photo: Getty Images) The Nasdaq Composite Index /quotes/zigman/123127 COMP -0.92% fell 25 points, or 0.8%, at 3,095.3. The S&P 500 Index /quotes/zigman/3870025 SPX -0.91% lost 11 points, or 0.8%, at 1,410.2. Among the index’s 10 sectors, energy and materials — notably metals firms such as Freeport McMoRan Copper & Gold /quotes/zigman/154700/quotes/nls/fcx FCX -4.59% and U.S. Steel /quotes/zigman/295713/quotes/nls/x X -2.83% — weighed the most. The two sectors lost nearly 2% each. The energy sector has dropped 4.7% this month and materials is down 0.7%, with much of that selloff in the past two weeks. “Those two sectors in particular, as well as industrials, are generally reflective of global growth concerns emanating out of China,” said Dan Greenhaus, chief global strategist at BTIG LLC. Worries that China was cooling faster than some expected, in the wake of a report showed a deeper contraction in manufacturing activity last week, helped rattle stocks, sending the Dow and S&P 500 to their worst week of the year. Read last week's report on China factory activity. On Wednesday, the Shanghai Composite /quotes/zigman/1859015 CN:000001 -2.65% dropped 2.7%, its worst loss since late November, after the National Bureau of Statistics showed a 5.2% drop in profits for China’s largest industrial groups during the first two months of this year. Read more on Shanghai Composite. Ahead of the opening bell, U.S. stock futures erased gains after the Commerce Department reported orders for long-lasting goods rose 2.2% in February, rebounding from a sharp drop in January, but lagging the 2.9% growth anticipated by analysts. Read more on durable goods. “The report was not as strong as we would have liked, especially given the drop-off in January,” added Greenhaus. U.S. stock indexes are still up between 0.2% and 0.9% this week, lifted by a strong Monday rally following remarks from Federal Reserve Chairman Ben Bernanke. They’ve surged between 7% and 19% this year. Europe stocks slid Wednesday. Citigroup said the risk of a Spanish debt restructuring is higher now than it’s been since the start of the crisis. The Stoxx 600 /quotes/zigman/2380150 XX:SXXP -1.06% lost 1.1%. Dollar up, oil down The dollar edged higher, with the dollar index /quotes/zigman/1652083 DXY +0.01% rising to 79.202 from 79.087 late Tuesday. Read more on currencies. Gold for April delivery /quotes/zigman/660065 GCJ2 -1.59% lost $14.90, or 0.9%, at $1,670 an ounce. Read more on gold futures. Oil futures /quotes/zigman/2203141 CLK2 -1.98% slid $2.20, or 2.1%, at $105.13 a barrel, hampered by comments made by French officials, reported by the Financial Times, that the United States has asked for an emergency release of oil stocks in a coordinated U.S., U.K. and French move. Oil extended its decline after the U.S. government reported a surprisingly large gain in weekly inventories. Read more on oil. Among moving stocks, Annie’s Inc. /quotes/zigman/9364222 BNNY +88.68% shares surged 75% to $33.25 in the maker of organic-food products’ first day of trading. Read more about Annie’s IPO on the New York Stock Exchange. Amylin Pharmaceuticals Inc. /quotes/zigman/68225/quotes/nls/amln AMLN +45.42% shares surged 46% to $22.51 after Bloomberg News reported the diabetes-drug maker dismissed a $22-a-share bid from Bristol-Myers Squibb /quotes/zigman/220498/quotes/nls/bmy BMY -0.43% . Tyco International Ltd. /quotes/zigman/542280/quotes/nls/tyc TYC +2.78% shares gained 3.3%, the second best on the S&P 500, and Pentair Inc. /quotes/zigman/238010/quotes/nls/pnr PNR +14.90% jumped 14% after the two companies announced plans to create a new firm by merging their flow-control businesses, which makes industrial-fluid control and heating systems. /quotes/zigman/627449 Add to portfolio DJIA Dow Jones Industrial Average 13,091.74 -105.99 -0.80% Volume: 60.09MMarch 28, 2012 1:53p /quotes/zigman/221644/quotes/nls/cat Add to portfolio CAT Caterpillar Inc. $ 103.87 -4.19 -3.88% Volume: 5.96MMarch 28, 2012 1:53p /quotes/zigman/246295/quotes/nls/aa Add to portfolio AA Alcoa Inc. $ 9.84 -0.23 -2.24% Volume: 23.73MMarch 28, 2012 1:53p /quotes/zigman/123127 Add to portfolio COMP NASDAQ Composite Index 3,091.63 -28.72 -0.92% Volume: 0.00March 28, 2012 1:53p /quotes/zigman/3870025 Add to portfolio SPX S&P 500 Index 1,399.63 -12.89 -0.91% Volume: 302.51MMarch 28, 2012 1:53p /quotes/zigman/154700/quotes/nls/fcx Add to portfolio FCX Freeport-McMoRan Copper & Gold Inc. $ 36.97 -1.78 -4.59% Volume: 18.57MMarch 28, 2012 1:53p /quotes/zigman/295713/quotes/nls/x Add to portfolio X United States Steel Corp. $ 28.50 -0.83 -2.83% Volume: 7.78MMarch 28, 2012 1:53p /quotes/zigman/1859015 Add to portfolio CN:000001 Shanghai Composite Index 2,284.88 -62.30 -2.65% Volume: 83.65MMarch 28, 2012 3:15p /quotes/zigman/2380150 Add to portfolio XX:SXXP STOXX Europe 600 Index EUR 264.10 -2.82 -1.06% Volume: 0.00March 28, 2012 5:50p /quotes/zigman/1652083 Add to portfolio DXY U.S. Dollar Index (DXY) 79.17 +0.01 +0.01% Volume: 0.00March 28, 2012 1:43p /quotes/zigman/660065 Add to portfolio GCJ2 Gold - Electronic (COMEX) Apr 2012 $ 1,658.10 -26.80 -1.59% Volume: 172,357March 28, 2012 1:43p /quotes/zigman/2203141 Add to portfolio CLK2 Crude Oil - Electronic (NYMEX) May 2012 $ 105.20 -2.13 -1.98% Volume: 243,245March 28, 2012 1:43p /quotes/zigman/9364222 Add to portfolio BNNY Annie's Inc. $ 35.85 +16.85 +88.68% Volume: 6.02MMarch 28, 2012 1:53p /quotes/zigman/68225/quotes/nls/amln Add to portfolio AMLN Amylin Pharmaceuticals Inc. $ 22.38 +6.99 +45.42% Volume: 31.23MMarch 28, 2012 1:53p /quotes/zigman/220498/quotes/nls/bmy Add to portfolio BMY Bristol-Myers Squibb Co. $ 33.53 -0.15 -0.43% Volume: 6.16MMarch 28, 2012 1:53p /quotes/zigman/542280/quotes/nls/tyc Add to portfolio TYC Tyco International Ltd. $ 55.02 +1.49 +2.78% Volume: 9.56MMarch 28, 2012 1:53p /quotes/zigman/238010/quotes/nls/pnr Add to portfolio PNR Pentair Inc. $ 46.26 +6.00 +14.90% Volume: 6.03MMarch 28, 2012 1:53p Laura Mandaro is a MarketWatch editor, based in San Francisco. Comments on this story 38 Comments « « ‹ ‹ 1 2 › › » » Oldest comments listed first GarysOpinion 12 minutes ago+3 Votes Request sentMonday's window dressed mannequins feature Emperor Imbecile Bernank's clothing line! Reply Link Track Replies Report Abuse PickledPigsFeet 11 minutes ago0 Votes Request sentMichigan government announces plan to destroy ranch livestock based on hair color and arrest hundreds of ranchers as felons http://www.naturalnews.com/035372_Michigan_pigs_farm_freedom.html Reply Link Track Replies Report Abuse northmen202 11 minutes ago0 Votes Request sentKnife catchers out in full force this afternoon. Can't have a triple digit loss anymore.. Those have been banned from the market. Reply Link Track Replies Report Abuse bigfootpi 3 minutes ago0 Votes Request sentwe had 200pt loss a couple weeks ago and its -102 right now why talk the Frank Cannon Party bs? Reply Link Track Replies Report Abuse MacBillion 1 minute ago0 Votes Request sentIt's going down, I don't see knife catchers and tomorrow it's going to be worse Reply Link Track Replies Report Abuse BeanstalkNews 11 minutes ago+1 Vote Request sentGas just spiked to $4.17 today up from $3.90 yesterday. But not to worry. Obama is out of the country cutting deals for our future. Keep praying. Reply Link Track Replies Report Abuse bullrunisbull 6 minutes ago0 Votes Request sentHe worries about the little guy... Give them healthcare - but not able to afford gas to drive there.... Reply Link Track Replies Report Abuse reychesso 2 minutes ago0 Votes Request sentWhere is he vacationing this week? Sure he's got his clubs on AF1... Reply Link Track Replies Report Abuse tecnodog 9 minutes ago+1 Vote Request sentOil prices to take bite out of summer travel NEW YORK (CNNMoney) -- Rising gas prices are likely to curb summer travel plans for both vacationers and business travelers, according to a trade group's survey.The U.S. Travel Association said Tuesday that its survey of 2,500 households conducted earlier this month found 44% said the higher gas prices would cause them to take fewer vacation trips this summer, while 37% said they would take shorter trips. Some people said they would do both.Only 19% said they would take fewer business trips because of higher gas prices, but more business travelers said they would cut back other spending on the road, including 28% who plan to spend less at restaurants, and 22% who would cut back on spending on ... hotels.http://money.cnn.com/2012/03/27/pf/gas-prices-summer/index.htm?iid=HP_LN more Reply Link Track Replies Report Abuse bullrunisbull 8 minutes ago+1 Vote Request sentI'm smelling "reality" setting in Reply Link Track Replies Report Abuse SafeHouser 5 minutes ago0 Votes Request sentChina has been cooling off for the past 2 years. Why is this news now? Reply Link Track Replies Report Abuse « « ‹ ‹ 1 2 › › » » Join the Conversation; Add a Comment 38 comments 1,000 characters My comments... Post to Facebook Track Responses View Community guidelines » Use Community Commons for off-topic discussions » Add Comment Cancel Most Popular Indications Stock futures erase rise as data disappoint 1. Matthew Lynn's London Eye The next leg of gold’s bull run 2. Jon Friedman's Media Web Tiger Woods will never win back America 3. Todd Harrison The next wave of digital growth is here 4. Market Snapshot U.S. stocks drop on durable goods, energy 5. Join the Conversation 38 Comments 1,000 characters My comments... Community guidelines »Add Comment Breaking Insight MarketWatch First Take Investors bet on the bunny with Annie’s IPO Al Lewis Broker decides: If you can’t join ‘em, beat ‘em MarketWatch First Take Magic brings Showtime to L.A. Dodgers Shawn Langlois's London Sketch Thames Valley confab conjures Silicon’s spirit Find a Broker Partner Center » Video Asia Week Ahead: Are China Banks' Profits Growing? How To Hedge the Market's Pending Poor Returns Fantasy Earnings Trader: Play For Free Asia Week Ahead: Japan, India Rates In Focus World News from MarketWatch Europe Asia Canada Latin America Emerging Mrkts U.S. dollar higher; China worries hit aussie EU plan would boost firewall to 940B euros: report Spain finance minister: No plan to ask for bailout FTSE 100 lower after GDP; miners, banks off Europe ends lower after U.S. data; Total falls More Europe news » U.S. dollar higher; China worries hit aussie Gold slides 1% after failing to touch $1,700 Treasurys erase loss ahead of bond auction Applied highlights tech retreat; Nvidia gains India’s gold jewelers strike for 12th day More Asia news » •Annie’s IPO whets investor appetites •Canada stocks fall; data, weak commodities weigh •Applied highlights tech retreat; Nvidia gains •Canadian stocks fall on U.S. durable goods data •Energy, mining stocks pressure Canadian market More Canada news » Applied highlights tech retreat; Nvidia gains Mexican stocks build on record high Techs slip into red as H-P sinks Millennial Media IPO drawing strong buzz Mexico, Brazil stocks buoyed by Bernanke comments More Latin America news » Tobacco could kill one billion this century: study Morocco's Aerospace Industry Takes Flight Mombasa tea auction poised for change Chile holds key rate at 5%, meeting expectations India budget could be key for market More Emerging Mrkts news » Featured Stories U.S. stocks drop on durable goods, energy Major indexes tumble, adding to losses as investors dump energy and other sectors closely tied to global... Magic Johnson group buys Dodgers for $2 billion Annie’s IPO whets investor appetites Justices consider scuttling health-care law Competing election-year budgets vie for votes WSJ WSJMarketWatch MarketWatch FacebookTwitterBarron's Barron'sSmartMoney SmartMoneyAllThingsDigital AllThingsDigitalFINS FINSMore BigCharts Virtual Stock Exchange Financial News WSJ Asia WSJ India WSJ China chinese edition WSJ Japan japanese edition WSJ Europe WSJ Deutschland WSJ Americas en Español em Português WSJ Radio WSJ Wine SEARCH1:53 PM EDTMarch 28, 2012 /marketstate/country/us New York Open/marketstate/country/uk London Closed/marketstate/country/jp Tokyo Closed/marketstate/country/us /marketstate/country/uk /marketstate/country/jp View All Latest News /news/latest 1:51pVXX may be a double or triple from here 1:44pRep. Rush escorted off House floor after 'hoodie' protest 1:41pInvestors bet on the bunny with Annie’s IPO 1:32pBrightcove underwriter tempered by valuation 1:31pU.S. dollar higher; China worries hit aussie 1:23pLive blog of hearing on collapse of MF Global 1:21pCutting natural gas leaks equal to 50 coal plants: study 1:18pJustices consider scuttling health-care law 1:13pTreasury sells $35 bln in 5-year debt at 1.040% 1:12pU.S. stocks drop on durable goods, energy 1:10pGold slides 1% after failing to touch $1,700 1:06pCompeting election-year budgets vie for votes 1:04pIndirect bidders buy 41.9% of 5-year note auction 1:03pBidders offer $2.85 for each $1 in 5-yr debt sold 1:03pBREAKING Treasury sells $35 bln in 5-year debt at 1.040% 12:53pEU plan would boost firewall to 940B euros: report 12:41pSpain finance minister: No plan to ask for bailout 12:35pPullback for Lions Gate shares 12:31pFTSE 100 lower after GDP; miners, banks off 12:23pRadio Update: Stocks slump along with oil Loading more headlines... dow /quotes/zigman/627449 13,092.04-105.69 -0.80%nasdaq /quotes/zigman/123127 3,091.92-28.43 -0.91%s&p 500 /quotes/zigman/3870025 1,399.67-12.85 -0.91%The Trading Deck 1329437100000 1329783000000 The Trading Deck Michael A. Gayed Will financials lead the way higher? If the banks can continue their move upward, and I think they just might, they would provide a significant wind into this rally's sails./conga/kiosk/trading-deck-10.html 199983 13321368000001332136800000From Fox Business HHS stong arms insurers The federal government is going full bore on insurers that hike premiums to cover soaring costs, writes Elizabeth MacDonald of Fox Business./conga/kiosk/marketfox.html 199954 13159977000001316084100000Commentary Lawrence G. McMillan The bulls are still in charge Many inexperienced traders think they’re “smart” buying volatility funds but they are overpaying by so much that it will be hard to make money. /conga/kiosk/commentary3.html 199816 12912660000001291266000000Tools and Data /conga/kiosk/currency.html 175572 13264131000001326759000000The Trading Deck Jon D. Markman Liquidity flood lifts Mexican stocks With the world’s central banks pumping out cash, country's like Mexico have reaped the benefits, as their stock market nears all-time highs./conga/kiosk/trading-deck-7.html 199740 13204116000001320616500000Alerts /conga/kiosk/alerts.html 175576 MarketWatch.com Site Index Topics Help Feedback Newsroom Roster Media Archive Premium Products Mobile Company Info Code of Conduct Corrections Advertising Media Kit Advertise Locally License our Content Broker Center Your Ad Choices MarketWatch on Facebook MarketWatch on Twitter RSS Podcasts WSJ.com Barron's Online BigCharts Virtual Stock Exchange All Things Digital MarketWatch Community Financial News Online WSJ.com Small Business FINS: Finance, IT jobs, Sales jobs Copyright © 2012 MarketWatch, Inc. All rights reserved. By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED 10/18/2011. Intraday Data provided by SIX Telekurs and subject to terms of use. 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