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Which Credit Card Rewards Does the IRS Care About?David Schepp
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Job Cuts in 2010 Tumble to Lowest Level in More Than a Decade
The dismal jobs front got a bit more good news, following the release of a report showing the nation's employers last year cut the fewest number of workers in more than a decade. Further, the findings showed 2010 ended on a high note, with December recording the lowest number of monthly cuts since 2000.
The slowdown in cuts follows an uptick in activity in 2009 when downsizing reached a seven-year high, according to the 2010 year-end job-cut report, released Wednesday by job-services firm Challenger, Gray & Christmas. Last year, employers announced plans to eliminate 529,973 positions, the lowest number since 1997.
Continue reading Job Cuts in 2010 Tumble to Lowest Level in More Than a Decade
Before the Bell: Investors Upbeat Ahead of Consumer Confidence Report
Stock futures edged higher on Tuesday ahead of the latest report on consumer confidence that is expected to show Americans are feeling better about the economy and have begun spending again, despite a tough job market.At about 45 minutes before the opening bell on Wall Street, stock futures showed the Dow Jones industrial index and the S&P 500 higher by about 0.4%, while the Nasdaq Composite Index was up by 0.6%.
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Before the Bell: Futures Flat as Investors Digest Recent Gains
U.S. stock futures were flat as investors take stock of a recent run-up in stock prices and four days worth of economic releases, with no new data scheduled for Friday.
Ahead of the opening bell on Wall Street, the Dow Jones industrial average, S&P 500 and Nasdaq Composite indexes were lower fractionally. Stocks ended Thursday's trading mixed, with the Dow Jones adding 45 points in its eighth straight day of positive sessions. The broader S&P 500 ended slightly lower Thursday, while the Nasdaq gained about 1%. Renewed concerns over the European nations' support for Greece in its debt crisis were countered by reports showing a decline in weekly jobless claims and tepid inflation.
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Before the Bell: Stocks Edge Higher Ahead of December Jobs Data
Stock futures on Wall Street were modestly higher ahead of a much-anticipated report on December employment, due at 8:30 a.m. Eastern time. The Dow Jones industrial average was higher by 6 points to 10,551, while the Nasdaq ticked up 2 points to 1,879.50 and the S&P 500 was up slightly to 1,137.60.Friday's latest Employment Situation Report from the government is expected to provide further evidence that the nation's jobs picture continues to improve. A Labor Department report yesterday showed that although initial claims for jobless benefits inched 1,000 higher to 434,000 in the latest week, continuing claims plunged 179,000 to 4.8 million to their lowest level in a year. And on Wednesday the ADP National Employment Report showed private-sector employers cut the fewest number of jobs since March 2008. Expectations are the nation lost 25,000 non-farms jobs in December, while the unemployment rate inched up to 10.2%, according to Briefing.com.
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Before the Bell: Investors Cautious Ahead of Retail Sales Reports
Stocks futures on Wall Street headed lower on Thursday in advance of fresh sales numbers from the nation's retailers and losses in foreign markets. Index futures showed the Dow Jones industrial average off by 29 points, while the Nasdaq and S&P 500 were down by 4.75 and 3.5 points, respectively. After gains Wednesday, stocks ended the day mixed following the release of minutes from the Federal Reserve's two-day meeting last month. The record showed members differed over whether to continue or end stimulus and expressed concern about the nation's elevated unemployment rate, which they expect to remain high for some time. The Dow industrials added 1.66 points, while the Nasdaq lost 7.62 points and the S&P 500 ended nearly flat.
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Before the Bell: Investors Cautious Ahead of Employment Data
After a mixed close Tuesday, stocks appeared headed for a lower opening this morning as investors await fresh data about the nation's job market. Stock index futures showed the three major U.S. indexes down, with the Dow Jones industrial average off by 34 points, the S&P 500 down nearly 5 points and the Nasdaq off by 6.Investors have a bevy of economic data to weigh Wednesday, starting with the release of the ADP National Employment Report ahead of the opening bell on Wall Street. That's followed by the Institute for Supply Management's index of service-industry activity, the latest data on crude-oil inventories, and minutes from the Federal Reserve's December meeting later in the day.
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Before the Bell: Investors Pause After Monday's Heady Gains in Stocks
Stocks are poised to open mixed on Tuesday as investors digest yesterday's big gains and the latest bit of economic data. The three major U.S. stock indexes were largely flat ahead of the start of trading on Wall Street. The Dow industrials and S&P 500 were each up about a point, while the tech-heavy Nasdaq was down slightly.More economic data is to be released today, including a report by the Commerce Department on November factory orders due at 10 a.m. Eastern time. Consensus estimates call for a 0.1% rise for the month, according to Briefing.com. At about the same time the National Association of Realtors will release data on existing home sales for November. Expectations are that sales slipped 2% in the month, following a 3.7% rise in October.
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Before the Bell: Investors Bullish as New Year Trading Gets Underway
U.S. stock markets are poised for gains Monday, the first trading day of the New Year. Investors are emerging fresh from a year of economic hardships, but one that also produced big gains for some. Ahead of the opening bell, futures on the bellwether Dow Jones industrial stocks were higher by 60 points, while those in the S&P 500 rose 7 points and the tech-heavy Nasdaq was up nearly 22 points. The gains in part are a reaction to Federal Reserve Chairman Ben Bernanke's comments Sunday about the role low interest rates play in creating stock bubbles. Speaking at a conference in Atlanta, Bernanke said the housing bubble, which many have blamed on low interest rates in the early part of the last decade, would have been dealt with more effectively through regulation -- not interest-rate manipulation.
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Halloween stocks offer investors a chance at financial treats
Halloween, though not the blockbuster holiday that Christmas is, still results in some additional spending on the part of consumers as they stock up on candy and costumes, and maybe take in a scary movie or two. With those treats in mind here are some stocks that may give investors sweet dreams -- and hopefully not nightmares.As is well known, candy is all the rage at Halloween, and among the largest candy stocks are Hershey Co. (NYSE: HSY) and Cadbury PLC (NYSE: CBY). Last week, Hershey reported third-quarter earnings rose 30% despite weaker volumes affected by higher prices for its sweets. Last year's numbers also included special charges. Still the company said it expects full-year earnings to be ahead of Wall Street forecasts. In 2010, the Pennsylvania company said it expects earnings excluding items to rise 6% to 8%. The stock has a forward-looking price-to-earnings ratio of 16 and a current dividend yield of 3.1%.
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IBM eliminates co-payments on employee health plans
In an era in which employers increasingly are having to shift more health-care costs onto employees, IBM (NYSE: IBM) is taking the unprecedented tack of opting to pick up all expenses related to primary care for U.S.-based employees, beginning next year. In doing so, IBM is is among the first U.S. companies to cover primary care at 100%, the Armonk, N.Y.-based computing giant said Thursday.The move means employees will not be subject to co-pays or deductibles for in-network primary care with their internist, general or family practitioner, pediatrician or primary osteopath. IBM said it was able to boost coverage due to the company's success in implementing wellness programs, an effort begun five years ago.
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Under new leadership, P&G begins to build a brighter future
As with the consumers to whom it sells, Procter & Gamble Co. (NYSE: PG) has weathered tough times in recent months. The Cincinnati company saw revenues fall and volumes squeezed (not unlike its trademark Charmin bath tissue) as recession-weary shoppers continued to rein-in expenses and begged off buying pricier goods.Still, following a year in which the company faced one of the most difficult macroeconomic environments in decades, P&G surprised analysts Thursday by reporting fiscal first-quarter earnings of $3.31 billion, or $1.06 a share, compared with $3.35 billion, or $1.03 a share, a year earlier. Analysts polled by Zacks.com anticipated the company would earn just 97 cents a share.
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Buffett's star shines brightest among world's financial gurus, poll shows
The housing bubble and subsequent "Great Recession" have tarnished the stars of a good many of the world's financial wizards, such as the former heads at Lehman Bros. and Merrill Lynch. But one respected image remains -- perhaps unsurprisingly -- on top: Warren Buffett, chairman and CEO at Berkshire Hathaway Inc. (NYSE: BRK.A).
That's according to a recent quarterly poll of investors, traders, and analysts who subscribe to Bloomberg terminals, those somewhat cryptic news and data computers that are ubiquitous on Wall Street. Buffett, who received favorable nods from 25% of those participating in the poll, walked away with a plurality of the vote, Bloomberg News reported.
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On an earnings roll, Netflix eyes streaming video market as new frontier
You got to hand it to Netflix Inc. (NASDAQ: NFLX). At a time when movie rental houses -- chief among them, rival Blockbuster Inc. (NYSE: BBI) -- are struggling to keep their doors open, Netflix is prospering, rolling out new initiatives and finding new ways for video-hungry consumers to watch movies.
On Thursday, co-founder and CEO Reed Hastings told investors on a conference call that the company will soon partner with another consumer-electronics maker to make streaming video available on more devices. That's on top of deals Netflix has already struck with Microsoft Corp. (NASDAQ: MSFT) and its Xbox, which expires next month, and Best Buy Inc. (NYSE: BBY), with its line of Insignia brand Blu-Ray disc players.
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Before the bell: Earnings enthusiasm shows signs of slipping
Wall Street watchers can be excused for feeling a little whipsawed this week. After watching stocks lose ground early in the week, they roared back Thursday, riding high on a bevy of upbeat earnings reports. That enthusiasm remains partially on display this morning with two of the three major U.S. stock indexes showing a positive opening ahead of the morning bell.
At about 7 a.m. ET, the Nasdaq Composite Index and S&P 500 were slightly higher, while the Dow Jones industrial average was down by about 4 points. The Dow gained 1.3% Thursday to close the session at 10,081.31, led by the strong earnings reports from five of the benchmark index's 30 component stocks.
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Before the bell: Investors' caution reigns amid earnings season
Despite largely positive corporate earnings reports, investor caution has set upon Wall Street. For the third straight day stocks are set to move into negative territory, with futures showing the three major U.S. indexes heading lower ahead of Thursday's opening bell.Some blamed Wednesday's near 1% drops in the Dow Jones industrial average and the S&P 500 on a late-day sell-off driven by the latest Beige Book survey from the Federal Reserve that showed the economy is ever so slowly emerging from recession -- too slowly, it would seem, for investors.
Continue reading Before the bell: Investors' caution reigns amid earnings season
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