More positive housing data coupled with optimism that an economic fiscal cliff can be avoided sent stocks soaring on Monday, as the Down gained over 200 points. On Tuesday stocks were largely unchanged as the momentum from the previous two sessions’ gains was dampened by Fed Chair Ben Bernanke’s warning that the Fed has only limited resources to counteract a recession brought about by the failure of Congress and the President to enact a viable economic plan. Light volume marked the day on Wednesday prior to Thanksgiving, with the major indexes making moderate gains. The week ended on Friday with another very healthy gain as a cease-fire in he Middle East as well as encouraging economic news from China led US stocks higher.
[table id=90 /]

The markets opened the week on Monday, with little direction, as investors unsure about “fiscal cliff” concerns were unwilling to make a commitment either way. On Tuesday several of the major indexes fell to three month lows, even though Home Depot released a positive earnings report, another indicator that the housing market is improving. Losses accelerated on Wednesday, as both the NASDAQ and Russell 2000 have lost more than 10% off their recent highs, termed a correction by investors. On Thursday stocks finished with surprisingly small losses despite concern over Middle East violence and a spike in initial jobles claims. Friday concluded the week with a modest gain by stocks on optimism that President Obama and Congress showed signs of compromising to avoid the looming “fiscal cliff”.
[table id=89 /]

Stocks finished slightly higher on Monday on light volume as investors took a wait and see approach to the upcoming US presidential election. On Tuesday, the Dow surged 133 points on little economic news, as an uptick is often the case on election day. Those gains were lost and then some on Wednesday, as the market experienced its worst day in almost a year on Wednesday. Gloomy economic news from Europe sent stocks south, as investors who had bet against an Obama victory were saddled with heavy losses. Things only got worse on Thursday with the Dow registering another 100+ point loss, as concern grew about whether the economic fiscal cliff can be avoided now that the presidential race is decided. The bleeding finally stopped on Friday with small gains registered by the Dow and the S&P 500, helped in part by positive consumer opinion and wholesale inventories reports.
[table id=88 /]

Wall Street experienced a rare shutdown on Monday and Tuesday owing to Hurricane Sandy’s deluge crippling parts of the Eastern US seaboard. Trading resumed on Wednesday with an initial rise, but stocks settled near the unchanged mark by the end of day on near-normal volume. Positive consumer confidence, worker productivity, and manufacturing reports sent stocks soaring on Thursday, as investors received encouraging economic news on multiple fronts. On Friday, the previous day’s gains were eventually lost despite a dramatic rise in job growth in October. The national unemployment rate, however, ticked up by a tenth of a percent to 7.9%, possibly indicating that more people have restarted their search for employment.
[table id=87 /]

The downturn of last week continued into the early part of Monday, as the Dow dipped early by more than 100 points before recovering for a minimal gain by the end of the day. On Tuesday a plethora of weak earnings reports sent the market crashing again, with the Dow registering an almost 250 point loss. The major indexes failed to bounce back on Wednesday, experiencing yet another loss despite encouraging new home-building and home sales reports. On Thursday stocks earned back a small fraction of previous days’ losses after mixed economic and job-related reports. The major indexes finished the week on Friday with another tiny gain, despite the fact that the third quarter GDP rose by 2.0%, more than expected by analysts. However, investor excitement was tempered by yet more disappointing earnings reports.
[table id=86 /]

Stocks opened the week on Monday with a nearly 1% gain following a positive US retails report, the third monthly gain for this important economic indicator. On Tuesday, the market tacked on an additional percent as investor sentiment over the US economy and Spain/Greece seems to be improving. The Dow had its fourth consecutive winning day on Wednesday despite disappointing earning reports from heavyweights IBM and Intel. An encouraging September home construction report lends further evidence that a housing recovery is underway. A disappointing earnings report from Google sent stocks down on Thursday, although the losses were minimal. Friday marked the 25th anniversary of Black Monday, the day in 1987 when the Dow dropped almost 23%. While not nearly on the same scale as Black Monday, stocks fell hard on renewed concerns over corporate earnings.
[table id=85 /]

The major indexes fell modestly on Monday as investors prepare for the upcoming earnings seasons, which is expected to be a disappointment. On Tuesday the Dow fell over 100 points after the International Monetary Fund reduced its outlook on economic growth for 2012. Another steep decline followed on Wednesday as gloomy earnings from Alcoa seemed to indicate that the overall third quarter earnings concerns are valid. On Thursday the Dow had its fourth consecutive losing session of the week, although losses would have been worse if the initial weekly jobless claims report had not been much better than expected. The Dow barely avoided an 0 for 5 week on Friday by eeking out a small gain. However the NASDAQ suffered its sixth straight losing session.
[table id=84 /]

The fourth quarter of 2012 began on Monday with renewed optimism among traders, with gains registered by the Dow, S&P 500, and NASDAQ. An unexpectedly favorable manufacturing report seemed to be the cause for the uptick. On Tuesday stocks bounced up and down considerably to settle near the unchanged mark after the Spanish prime minister cast doubt on an imminent Eurozone bailout of the country. The market was little changed again on Wednesday despite a report showing that private-sector job growth diminished less than expected in September. On Thursday the major indexes had solid gains once again even in light of a report finding that weekly initial jobless claims increased. Such a gain a was somewhat surprising considering investors’ tendency to be cautious on the day before the monthly unemployment rate is updated. The much-anticipated September unemployment rate report did not disappoint, as the unemployment rate dipped below the 8% mark for the first time since January 2009 at 7.8%. Still, the major indexes did not finish strongly on concerns about more Eurozone woes, this time regarding Greece’s chance to receive additional aid.
[table id=83 /]

The major indexes experienced modest losses on Monday despite a positive manufacturing index report, as investors focused more on uncertainty over European banking policy. On Tuesday the S&P 500 suffered its worst daily loss in three months after a Fed official stated that the recent QE3 bond-buying program would be ineffective at stimulating the economy. Sour sentiment also resulted from Caterpillar lowering its long-term profit growth outlook. On Wednesday stocks fell once again following a report that August new home sales fell against expectation. Thursday brought a break from the recent downturn, as the market rebounded markedly as positive economic news out of Spain and China lessened this week’s negative attitude among investors. The week, month, and quarter ended on Friday unceremoniously with another loss as investors fear that Spain’s credit rating might be downgraded to junk status.
[table id=82 /]

Stocks took a break from the recent run up on Monday, as investors used a decline in steel demand as an excuse to sell. A decline in crude oil prices also weighed down the energy component of the major indexes. On Tuesday the markets were largely unchanged as an increase in home builder’s confidence was offset by Fed Ex’s announcement to cut its full-year earnings outlook. Despite some good news on Wednesday – existing house sales rose in August, and Japan will implement a bond-buying program to stimulate its economy – stocks were once again largely unchanged. On Thursday the major indexes finished mixed, barely reacting to a US jobless claims report that showed a larger than expected increase in new jobless claims. The market finished the week on Friday with a small loss on very high volume.
[table id=81 /]