Friday, December 19, 2014
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

Stocks pause as traders await key economic news

By
July 29, 2014 |

NEW YORK — After dawdling between small gains and losses in a slow day of summer trading, the stock market ended little changed on Monday.

Instead of worrying about the conflict between Russia and Ukraine or trouble in the world’s other hot spots, investors appeared to sit tight.

The main reason, said Robert Pavlik, chief market strategist at Banyan Partners, a wealth management firm, is that the news that’s most likely to move the market comes out later in the week.

On Wednesday, the Federal Reserve wraps up a two-day meeting then issues a statement that investors will study for any hints about the Fed’s next interest-rate move. On Friday, the government releases its closely watched monthly jobs report.

“If you’re a professional investor,” Pavlik said, “the big things you focus on this week are what the Federal Reserve says Wednesday and Friday’s monthly employment report.”

A scattering of merger announcements drove some trading on Monday. Family Dollar rose the most in the Standard & Poor’s 500 index — with a 25 percent gain — after Dollar Tree announced plans to buy the rival discount store for roughly $8.5 billion. Family Dollar’s stock surged $15.08 to $75.74.

Trulia jumped on news that Zillow, a rival real-estate listing service, was buying it for $3.5 billion. Trulia advanced $8.69, or 15 percent, to $65.04. Zillow picked up $1.46, or 1 percent, to $160.32.

The S&P 500 index edged up 0.57 of a point, or 0.03 percent, to close at 1,978.91.

The Dow Jones industrial average rose 22.02 points, 0.1 percent, to 16,982.59, while the Nasdaq composite slipped 4.65 points, or 0.1 percent, to 4,444.91.

Wall Street is in the middle of second-quarter earnings season, when big companies turn in their springtime results and tell investors how they think the rest of the year will shape up. This week, ExxonMobil and MasterCard are among the heavyweights posting earnings. American Express and Merck report Tuesday.

So far, the news has been better than many expected. Of the 229 companies that have posted results, nearly seven out of 10 have turned in higher profits than analysts projected, according to S&P Capital IQ.

Among the handful of companies reporting Monday, Tyson Foods announced higher quarterly profits as well as a plan to sell its chicken business in Mexico and Brazil for $575 million in cash. Tyson Foods climbed $1.02, or 3 percent, to $40.56.

Tensions between Western powers and Russia remained a concern for investors. On Monday, an international court ordered Russia to pay over $50 billion to a group of investors for the expropriation of now-defunct oil company Yukos. The ruling comes as European countries consider imposing sanctions on trade in defense, technology and other goods and restricting access to European capital markets for Russia’s state-owned companies.

Pavlik said most U.S. investors have managed to set aside their worries over world politics and focus on the improving economy, though the conflicts could still rattle markets

“I think the market is doing what it should be doing,” he said. “It’s not getting sucked into all the bad news out there. Russia is lobbing bombs into Ukraine, and that appears like it could spiral out of control. The Middle East looks out of control. But the stock market is trading near an all-time high.”

In other trading on Monday, France’s CAC 40 rose 0.3 percent while Germany’s DAX shed 0.5 percent. Britain’s FTSE 100 slipped 0.1 percent.

News that profits at China’s industrial enterprises soared 17.9 percent in June over a year earlier suggested that the world’s No. 2 economy has stabilized and gave Asian markets a boost. China’s benchmark Shanghai Composite Index surged 2.4 percent.

The price of oil fell as traders awaited this week’s economic reports. Benchmark U.S. crude oil fell 42 cents to $101.67 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils, fell 82 cents to $107.57 on the ICE Futures exchange in London.

BONDS: In U.S. government bonds, the yield on the 10-year Treasury note inched up to 2.48 percent from 2.47 percent late Friday. Bond yields rise when prices fall.

 

The Associated Press

The Associated Press

LEAVE A COMMENT

Discussion | No comments

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Read our full policy

.

Solano News

 
Groundbreakings, ribbon-cuttings play role in civic life

By Barry Eberling | From Page: A1, 1 Comment | Gallery

 
Sondheim’s ‘Woods’ holiday showcase for Missouri Street Theatre

By Amy Maginnis-Honey | From Page: B1 | Gallery

Frankye Kelly ready to spread holiday cheer

By Amy Maginnis-Honey | From Page: B1

 
Celebrate the magic of Christmas

By Tony Wade | From Page: A2, 2 Comments

 
Santas have busy week at schools

By Susan Hiland | From Page: A3, 2 Comments

 
Safe streets task force work nets 3

By Ryan McCarthy | From Page: A3, 5 Comments

 
 
Solano College approves officers, meeting schedule

By Susan Winlow | From Page: A4

Longtime Suisun harbor master to retire

By Ian Thompson | From Page: A4, 2 Comments

 
 
Fairfield police log: Dec. 17, 2014

By Susan Hiland | From Page: A12

 
Suisun City police log: Dec. 17, 2014

By Susan Hiland | From Page: A12, 1 Comment

 
.

US / World

Hope and some fear in Cuba amid thaw with US

By The Associated Press | From Page: A1

 
Next steps on Cuba: Normalizing could take awhile

By The Associated Press | From Page: A1

Sony hacking fallout puts all companies on alert

By The Associated Press | From Page: A1

 
Sony film took aim at North Korea’s biggest taboo

By The Associated Press | From Page: A1, 4 Comments

Timeline of the Sony Pictures Entertainment hack

By The Associated Press | From Page: A1

 
Digital dilemma: How will US respond to Sony hack?

By The Associated Press | From Page: A1

 
Spy’s parents search for son after Cuba-US deal

By The Associated Press | From Page: A1

Local emergencies in Northern California counties after rain

By The Associated Press | From Page: A5

 
California’s top utility regulator defends record

By The Associated Press | From Page: A5

‘Pretty horrible’ scene; car slams into crowd

By The Associated Press | From Page: A5

 
Police: Drunk man shot while entering wrong house

By The Associated Press | From Page: A5, 4 Comments

 
Tsarnaev appears in court for 1st time since 2013

By The Associated Press | From Page: A6

 
President signs legislation ending Nazi benefit checks

By The Associated Press | From Page: A7

2 states challenge Colorado marijuana legalization

By The Associated Press | From Page: A8, 3 Comments

 
‘Prison Houdini’ set to make his 1st legal escape

By The Associated Press | From Page: A8

 
Feds sue NYC over Rikers Island jail violence

By The Associated Press | From Page: A8

Russian sailors leaving France without warship

By The Associated Press | From Page: A9, 2 Comments

 
Putin: West wants to defang, declaw Russian bear

By The Associated Press | From Page: A10, 2 Comments

European court rules obesity can be a disability

By The Associated Press | From Page: A13

 
Suspected Islamic extremists kidnap 185 in Nigeria

By The Associated Press | From Page: A13, 2 Comments

.

Opinion

Another look at school bonds

By George Guynn Jr. | From Page: A11, 5 Comments

 
Editorial Cartoon: Dec. 19, 2014

By Daily Republic Syndicated Content | From Page: A11

News of the day strikes a chord

By Bud Stevenson | From Page: A11, 10 Comments

 
 
.

Living

Today in History: Dec. 19, 2014

By The Associated Press | From Page: A2, 1 Comment

 
Community Calendar: Dec. 19, 2014

By Susan Hiland | From Page: A2

Horoscopes: Dec. 19, 2014

By Holiday Mathis | From Page: D8

 
Should I use Child Protective Services threat to get back rent?

By Kathy Mitchell and Marcy Sugar | From Page: D8

.

Entertainment

Week in preview Dec. 19-25, 2014

By Amy Maginnis-Honey | From Page: B1

 
Sweet ‘Night at the Museum’ bids farewell to Robin Williams

By The Associated Press | From Page: B2

 
Craig Ferguson to end 10 years as host of ‘Late Late Show’

By The Associated Press | From Page: B3

Eric Idle brings ‘Not the Messiah’ to Carnegie Hall

By The Associated Press | From Page: B3

 
Entertainment calendar Dec. 19, 2014

By Susan Hiland | From Page: B4

.

Sports

A’s trade All-Star catcher Derek Norris to Padres

By The Associated Press | From Page: B7

 
Warriors beat Thunder 114-109 after Durant injury

By The Associated Press | From Page: B7

 
A’s acquire lefty De La Rosa from Arizona for cash

By The Associated Press | From Page: B7

Raiders defense depleted by injuries

By The Associated Press | From Page: B7

 
49ers’ Harbaugh mum on reported offer from Michigan

By The Associated Press | From Page: B7

49ers’ Aldon Smith hopes to build off tough year

By The Associated Press | From Page: B7

 
Rivera: Newton ‘probably’ will start vs. Browns

By The Associated Press | From Page: B8

Bears bench QB Jay Cutler for Clausen

By The Associated Press | From Page: B8

 
‘Hands Up’ players to attend Ferguson Christmas party

By The Associated Press | From Page: B8

Celtics trade Rondo to Mavericks

By The Associated Press | From Page: B8

 
Rodriguez boys open Les Curry Tournament with victory

By Daily Republic staff | From Page: B8

39 bowl games and a reason to watch every one

By The Associated Press | From Page: B8

 
Column: Thaw in US-Cuba relations warms up MLB

By Jim Litke | From Page: B8

Signups for Friday, Dec. 19, 2014

By Paul Farmer | From Page: B9

 
This date in sports history for Friday, Dec. 19, 2014

By The Associated Press | From Page: B11

Sports on TV/Local sports for Friday, Dec. 19, 2014

By Paul Farmer | From Page: B11

 
.

Business

Roomiest Subaru Legacy debuts for 2015

By Ann M. Job | From Page: C1

 
Dow industrials have their best day in three years

By The Associated Press | From Page: B6

Ford expands drivers air bag recall nationwide

By The Associated Press | From Page: B6

 
Constantly changing online prices stump shoppers

By The Associated Press | From Page: B6

.

Obituaries

Lisa Dee McHughes

By Nancy Green | From Page: A4, 1 Comment

 
Travis Curt Price

By Susan Hiland | From Page: A4, 1 Comment

Ernest “Ernie” Moretti

By Nancy Green | From Page: A4

 
Jennie Ponce Reyes

By Nancy Green | From Page: A4

Patricia “Pat” Anne Stringfield-Pierre

By Nancy Green | From Page: A4

 
.

Comics