Flat start to short week
Monday, November 22, 2021 10:40 AM

Related Stories



In New York, stocks opened lower to start a holiday-shortened week Monday, as news of progress on Ireland's rescue package underscored concerns about other troubled European economies.

The Dow Jones Industrials settled 26.18 points soon after the opening bell to 11,177.40.

The S&P 500 was down 1.68 points to 1,198.05. The tech-rich Nasdaq Composite Index moved up 11.40 points to 2,529.52.

Stocks eked out gains Friday, ending a volatile week with a whimper. The volatility was driven by nervousness over China's efforts to temper bank lending and a potential bailout for Ireland.

Optimism over General Motors' initial public offering helped limit the downside.

On Sunday, Irish Prime Minister Brian Cowen formally requested substantial financial assistance from the European Union and the International Monetary Fund. The group is now working to hammer out final details of a rescue package worth tens of billions of dollars.

That move could give U.S. markets a boost because it removes a piece of uncertainty, according to some experts

But jitters will remain over debt levels in Portugal and Spain, they said.

Investors will have to digest a full plate of top-tier economic indicators before packing it in for the week.

Reports on the agenda Tuesday and Wednesday include a revised reading on U.S. economic growth, housing data and durable goods orders, as well as personal income and spending figures. In addition, the Federal Reserve is scheduled to release minutes from its Nov. 3 policy meeting on Tuesday.

In company news, Netflix shares jumped at the opening bell after the company announced a streaming-only video service for $7.99 U.S. a month. The streaming plus DVD rental service price will increase to $9.99 U.S. a month.

Shares of Green Mountain Coffee fell following the company's after-hours announcement Friday that it will recalculate earnings for the last three fiscal years and the first three quarters of the current fiscal year due to accounting errors.

Dow component Hewlett-Packard is among the companies due to report quarterly results after the market closes. Analysts expect the computer products maker to post fiscal fourth-quarter earnings of $1.27 U.S. per share on sales of $32.75 billion U.S. according to Thomson Reuters.

The price on the benchmark 10-year U.S. Treasury moved up, lowering the yield to 2.83% from 2.87% late Friday. Treasury prices and yields move in opposite directions.

Oil eased 29 cents a barrel to $81.57 U.S. The price of an ounce of gold triumphed $2.53 to $1,356.01 U.S.

(Source: )
(Source: Quotemedia)
 

Sponsors

Symbol :

Advertisement

Market news:

  • Mexico outraged by killing of anti-crime crusader Dec 18, 2021 02:04 AM

    • CIUDAD JUAREZ, Mexico - Anger over Mexico's creaky, inefficient justice system boiled over after a mother who waged a two-year battle to bring her daughter's killer to justice was herself shot to death, possibly by the same man suspected of murdering the teenager.
    • Escobedo was taken by ambulance to a hospital, where she died within minutes.
    • On Friday, a group of demonstrators gathered outside the Interior Department in Mexico City to protest the killing, briefly scuffling with police while chanting "Not one more death!"
      • James has triple-double, dominates again at MSG Dec 18, 2021 01:26 AM

        • NEW YORK - LeBron James always said he loved playing here.
        • James delivered another vintage performance at Madison Square Garden, scoring 32 points and finishing with his 30th career triple-double to help the Miami Heat beat the New York Knicks 113-91 for their 11th straight victory.
        • 6 jersey he hoped would belong to James - New York surged back to tie it at 57 at halftime.
          • Bones found on island might be Amelia Earhart's Dec 18, 2021 01:02 AM

            • NORMAN, Okla. - The three bone fragments turned up on a deserted South Pacific island that lay along the course Amelia Earhart was following when she vanished.
            • Now scientists at the University of Oklahoma hope to extract DNA from the tiny bone chips in tests that could prove Earhart died as a castaway after failing in her 1937 quest to become the first woman to fly around the world.
            • "There's no guarantee," said Ric Gillespie, director of the International Group for Historic Aircraft Recovery, a group of aviation enthusiasts in Delaware that found the pieces of bone this year while on an expedition to Nikumaroro Island, about 1,800 miles south of Hawaii.
              • $7.2B is recovered for Madoff's victims Dec 18, 2021 01:02 AM

                • NEW YORK - Many of Bernard Madoff's victims who thought they lost everything could get at least half their money back after the widow of a Florida philanthropist agreed Friday to return a staggering $7.2 billion that her husband reaped from the giant Ponzi scheme.
                • Picower was the single biggest beneficiary of Madoff's fraud.
                • He commended Picower's widow, Barbara, "for agreeing to turn over this truly staggering sum, which really was always other people's money."
                  • SKorea to hold firing drills despite NKorea threat Dec 18, 2021 01:02 AM

                    • SEOUL, South Korea - South Korea said Saturday it will go ahead with artillery drills on a border island shelled by North Korea last month despite Pyongyang's threat to retaliate again, as Russia and China expressed concerns over tension on the volatile peninsula.
                    • Four people died last month in the North's attack on Yeonpyeong Island near the tense sea border.
                    • However, Russia's Foreign Ministry expressed its "extreme concern" Friday over the drills and urged South Korea to cancel them to prevent a further escalation of tension.

                      More news


Advertisement

    Recent Estimates

AnalystFirm NameSymbolEPS Estimate
jomariXXXXX CVG$0.31
XXXXXXXXXX RIMM$1.64
XXXXXXXXXX CRM$0.19
GEOXXXXX PAY$0.30
mrbilltraderXXXXX POT$1.59
XXXXXXXXXX OVTI$0.43
sam farahanXXXXX TECD$0.95
XXXXXXXXXX GSS$0.05
XXXXXXXXXX ABB$0.31
adfgafg ERTS$0.48