Wall Street finishes with modest gains NEW YORK -- Wall Street managed to finish an erratic session with a moderate gain Wednesday as investors found some comfort in upbeat data on durable goods orders. Crude's recovery from its lows Wednesday ate into some of the stock market's enthusiasm over the Commerce Department's durable goods report; the government said orders for items including aircraft, machinery, cars, refrigerators and computers slipped 0.5 percent last month.
Overall demand for durable goods falls Companies ordered more heavy machinery, computers and other long- lasting manufactured goods in September, but overall demand for durable goods fell 0.8 percent, the Commerce Department said Wednesday. But that was largely because of a decline in aircraft orders and also because orders for autos and auto parts fell. Excluding transportation, orders rose 1.7 percent.
Stocks pull back on economic news NEW YORK - Wall Street pulled back Wednesday after a drop in February's durable goods orders injected more pessimism about the economy into the stock market. The Commerce Department's durable goods report is indicative of business spending and consumer demand, so two straight months of declines were worrisome to Wall Street.
TUESDAY The National Association of Realtors releases existing- home sales for February; the Federal Housing Finance Agency releases its January home price index. WEDNESDAY The Commerce Department releases durable-goods data for February; the Commerce Department releases new-home sales for February.
The manufacturing economy has slowed as consumers have pulled back on spending for big-ticket items such as appliances and automobiles, the Commerce Department reported Tuesday. Orders for durable goods fell 7.8% in January, the largest drop in three months, the department reported.
Wall Street hesitated last week as European debt concerns threatened to take down the September rally. As the trading session ended Friday, however, a report on manufactured goods boosted industrial stocks like GE and Caterpillar. The Commerce Department said that orders for durable goods - excluding transportation - shot up in August at the highest rate in five months, doubling what economists had been expecting. Modest home sales reports indicate that housing is still struggling. Gold hit record highs and silver climbed to a 30-year high. The gains put gold in the running for the longest rally since the 1920s, as the dollar continues its wounded wobble. Unemployment claims rose last week, disappointing investors, and volume in the market remained a little shy of normal.
NEW YORK (AP) - managed to finish an erratic session with a moderate gain Wednesday as investors found some comfort in upbeat data on durable goods orders. Oil prices, however, remain a big focus on . Crude's recovery from its lows Wednesday ate into some of the stock market's enthusiasm over the Commerce Department's durable goods report; the government said orders for items including aircraft, machinery, cars, refrigerators and computers slipped
NEW YORK -- Wall Street skidded Thursday after the assassination of Pakistani opposition leader Benazir Bhutto and after the Commerce Department's durable goods orders exacerbated concerns about the U.S. economy. The major indexes lost well over 1 percent, and the Dow Jones industrial average fell more than 192 points. Bhutto's assassination raised the possibility of increasing political unrest abroad, always an unsettling prospect for investors who have already been contending with domestic economic concerns for months. Oil prices rose following the news, and that unwelcome inflationary trend only added to Wall Street's uneasiness.
WASHINGTON - Companies trimmed their orders for long-lasting manufactured goods in February, buying fewer computers, machines and primary metals. Durable-goods orders fell 0.9 percent last month, the Commerce Department said Thursday. It was the fourth decline in the past five months.
NEW YORK Wall Street managed to finish an erratic session with a moderate gain Wednesday as investors found some comfort in upbeat data on orders for durable goods. Oil prices, however, remain a big focus on Wall Street. Crude's recovery from its lows Wednesday ate into some of the stock market's enthusiasm over the Commerce Department's durable-goods report: The government said orders for items including aircraft, machinery, cars, refrigerators and computers slipped 0.5 percent last month.
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