KOMU 8 Market Report: Stocks Snap Back from Historic Highs

4 years 9 months 3 days ago Friday, March 15 2013 Mar 15, 2013 Friday, March 15, 2013 5:06:00 PM CDT March 15, 2013 in News
By: Katie Brennan
loading

COLUMBIA - U.S. stocks retreated Friday, snapping the Dow's longest winning streak in more than 16 years. The S&P 500 came close to setting a new record high but pulled back as well.

The three major indexes closed down- causing investors to question if this historic rally is running out of steam. The Dow slid 25.03 points to close at 14,514.11, its first decline on a Friday so far this year. It comes after 10 positive sessions in a row, the Dow's longest win streak since 1996. If the blue chip index had held on to gains Friday, it would've logged its first 11-session winning streak in more than 21 years.

The S&P 500 erased 2.51 points to end at 1,560.72, almost 5 points short of its 2007 closing high - 1,565.15. The index closed two points away from that all-time closing high Thursday. The NASDAQ declined 9.86 points to finish at 3,249.07.

Still, both the S&P 500 and NASDAQ posted their third-consecutive week of gains and the Dow saw its fourth-straight week of gains. It's up an impressive 11 percent so far this year. For the week, markets gained - the Dow climbed 0.81 percent, the S&P 500 rose 0.61 percent, and the NASDAQ came in 0.14 percent higher.

Those weekly gains were influenced by jobs data from Thursday. For the third week in a row jobless claims dropped- meaning the number of Americans who filed new claims for unemployment benefits fell. The drop gives hope we'll see acceleration in labor market. The last time we saw these levels was in the fall of 2007, before the recession hit. The data means fewer people are being laid off, but it's unclear if that will turn into more hiring.

But the boost is much-needed. Three and a half years into the recovery and Missouri is still more than 140,000 jobs short of its January 2008 peak.

We are seeing ecouraging signs locally that hiring is on the rise. Columbia-based Veteran's United is growing quickly. The company added 450 jobs last year and just purchased a new building in Columbia that will house 180 employees.

But right behind that positive jobs data came a disappointing comsumer sentiment report, with the lowest number since December 2011 - and that spurred Friday's losses. Investors are questioning whether a correction of this historic rally is on its way or if the losses are just a breather and the rally will keep on strong.

The Fed's low interest rate policy is certainly helping this rally and next week Ben Bernake will decide if he wants to keep his foot on the gas. That decision will certainly influence markets, as will a slew of economic data on housing. Existing home sales and housing starts numbers are out next week as well.

 

More News

Grid
List
TIPTON - A family is trying to recover after losing everything in a house fire, and with help from the... More >>
27 minutes ago Sunday, December 17 2017 Dec 17, 2017 Sunday, December 17, 2017 5:20:00 PM CST December 17, 2017 in News
BOONE COUNTY - A boil advisory is in affect for Water Supply District No. 10 in Boone County. According... More >>
29 minutes ago Sunday, December 17 2017 Dec 17, 2017 Sunday, December 17, 2017 5:18:00 PM CST December 17, 2017 in News
CAMDEN COUNTY - A Kansas City woman has been arrested in connection with a fatal car crash in Camden County... More >>
59 minutes ago Sunday, December 17 2017 Dec 17, 2017 Sunday, December 17, 2017 4:48:00 PM CST December 17, 2017 in News
KANSAS CITY (AP) — Area educators are opening up the topic of teen suicide for discussion after seeing deaths rise... More >>
1 hour ago Sunday, December 17 2017 Dec 17, 2017 Sunday, December 17, 2017 4:07:38 PM CST December 17, 2017 in News
JEFFERSON CITY - The first ever "Christmas Countdown" Sunday is giving Jefferson City an opportunity for some last minute Christmas... More >>
8 hours ago Sunday, December 17 2017 Dec 17, 2017 Sunday, December 17, 2017 9:21:00 AM CST December 17, 2017 in News
COLUMBIA (AP) — Police say they have arrested a man charged in an August quadruple homicide that occurred in... More >>
18 hours ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 11:15:00 PM CST December 16, 2017 in News
NEW BLOOMFIELD - A two-vehicle car wreck Saturday left one dead and two others injured, according to the Missouri State... More >>
21 hours ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 8:15:00 PM CST December 16, 2017 in News
COLUMBIA - An event in Columbia today addressed the prevalence of gun violence and misuse of firearms by offering gift... More >>
21 hours ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 8:04:00 PM CST December 16, 2017 in News
COLUMBIA – A six-year-old held a hot chocolate stand Saturday outside of a Hy-Vee in Jefferson City to help two... More >>
22 hours ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 6:51:00 PM CST December 16, 2017 in News
COLUMBIA - The Wyss Medical Foundation donated $2 million to the Missouri Orthapaedic Institute for the work of lead orthopaedic... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 5:05:00 PM CST December 16, 2017 in News
COLUMBIA - On Friday, the Columbia Police Department inducted eight new recruits, the largest class of officers in years. ... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 4:03:00 PM CST December 16, 2017 in News
COLUMBIA – A new roundabout may be coming to Columbia on one intersection that may cause drivers trouble. The... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 3:55:00 PM CST December 16, 2017 in News
JACKSONVILLE - An estimated 400 people attended a wreath laying ceremony Saturday at the Jacksonville State Veterans Cemetery. It... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 3:31:00 PM CST December 16, 2017 in News
COLUMBIA – Graduation day is long awaited by many and Amy Kiso Bledsoe is no exception. Bledsoe was... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 2:47:00 PM CST December 16, 2017 in News
ST. LOUIS (AP) — As Missouri struggles with the epidemic of opioid abuse, no place in the state has been... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 1:10:14 PM CST December 16, 2017 in News
BOONE COUNTY - A furnace malfunction caused a fire in a trailer home on Pratherville Road Saturday morning. Gale... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 12:05:48 PM CST December 16, 2017 in News
KANSAS CITY, Mo. (AP) — People returning to Kansas City after being released from prison will get a 90-day supply... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 11:25:12 AM CST December 16, 2017 in News
BOONE COUNTY - Firefighters responded to a shed fire off of Highway 40 near Rocheport Saturday morning. Boone County... More >>
1 day ago Saturday, December 16 2017 Dec 16, 2017 Saturday, December 16, 2017 10:04:00 AM CST December 16, 2017 in News
Columbia, MO
Broken Clouds 45°
6pm 45°
7pm 45°
8pm 44°
9pm 45°

Select a station to view its upcoming schedule:

Coming Up Next

5:30p
NBC Nightly News with Lester Holt
6:00p
Football Night in America
7:20p
Sunday Night Football
5:30p
The Goldbergs
6:00p
Saving Hope
7:00p
The Christmas Bunny

Tonight's Schedule

6:00p
Football Night in America
7:20p
Sunday Night Football
7:00p
The Christmas Bunny
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Family Guy