Market Report: Government Deal Lifts Stocks

5 years 1 month 4 weeks ago Sunday, October 20 2013 Oct 20, 2013 Sunday, October 20, 2013 1:37:00 PM CDT October 20, 2013 in News
By: William Joy, KOMU 8 News
loading

COLUMBIA - The end of the government shutdown and the raising of the debt limit lifted all three major indexes this week.

The Dow Jones Industrial Average rose 162 points this week to 15,399.65 being pushed up by a strong performance from American Express. The NASDAQ had the best percentage gain of the week, up 3.23 percent to 3,914.28, and the S&P 500 hit a record high Friday and closed at 1,744.50, up 2.42 percent.

Another reason for the big gains was companies reporting better than expected earnings for major local employers the news was mixed.

This week, Pepsi Co. reported earnings just barely better than expected, but Frito-Lay, which is under the Pepsi Co. umbrella and employs locally saw 7 percent growth in its Americas Food segment
.
Meanwhile, IBM, another local employer, saw shares drop almost 7 percent this week after it reported weak revenue overall except for its cloud business, which went up about 70 percent.

Rating agency Standard and Poors is saying the shutdown cost the U.S. $24 billion in decreased output and productivity, which is considered fairly small compared to the $3.5 trillion the government brings in each year. Analysts say the bigger loss is in consumer and business confidence.

As far as the week ahead, on Tuesday we'll finally get that jobs report that was delayed because of the government shutdown. Then Thursday, new home sales will tell us more about how willing people are to spend with current interest rates, and Friday, we'll get the consumer confidence number, which will reflect data from before the debt-ceiling agreement.

A quick bit of news, a company with big local ties, Wal-Mart announced this week it is hiring 55,000 seasonal workers this holiday season, which is 10 percent more than last year and might be reflected in that jobs report.

 

More News

Grid
List
ST. LOUIS (AP) — Supporters of criminal justice reform are questioning a move by assistant prosecutors in St. Louis County... More >>
25 minutes ago Tuesday, December 18 2018 Dec 18, 2018 Tuesday, December 18, 2018 2:40:58 PM CST December 18, 2018 in News
JEFFERSON CITY - The Missouri Public Service Commission held the first of two formal hearings to determine whether an interstate... More >>
1 hour ago Tuesday, December 18 2018 Dec 18, 2018 Tuesday, December 18, 2018 1:34:00 PM CST December 18, 2018 in News
WASHINGTON (AP) — The Trump administration moved Tuesday to officially ban bump stocks, which allow semi-automatic weapons to fire rapidly... More >>
2 hours ago Tuesday, December 18 2018 Dec 18, 2018 Tuesday, December 18, 2018 12:28:00 PM CST December 18, 2018 in News
BOWLING GREEN - Charles Erickson, who is serving time in prison for the 2001 murder of Columbia Daily Tribune sports... More >>
4 hours ago Tuesday, December 18 2018 Dec 18, 2018 Tuesday, December 18, 2018 10:16:29 AM CST December 18, 2018 in News
COLUMBIA - A man awaiting sentencing for attacking his grandparents filed a motion Friday, seeking acquittal on one of the... More >>
6 hours ago Tuesday, December 18 2018 Dec 18, 2018 Tuesday, December 18, 2018 9:05:36 AM CST December 18, 2018 in News
CALIFORNIA - A Fortuna man pleaded guilty Friday to charges related to the 2017 death of his young son. ... More >>
6 hours ago Tuesday, December 18 2018 Dec 18, 2018 Tuesday, December 18, 2018 8:55:00 AM CST December 18, 2018 in News
JEFFERSON CITY - The Missouri Public Service Commission held a hearing on the Grain Belt Express on Tuesday. In... More >>
9 hours ago Tuesday, December 18 2018 Dec 18, 2018 Tuesday, December 18, 2018 5:34:00 AM CST December 18, 2018 in News
PETTIS COUNTY - Tom Belsha has lived on Crestview Drive for twenty years. He has been questioning the quality of... More >>
18 hours ago Monday, December 17 2018 Dec 17, 2018 Monday, December 17, 2018 8:39:00 PM CST December 17, 2018 in Top Stories
LAWRENCE, Kan. (AP) — A Missouri woman who told police she intentionally drove into the Kansas River while trying to... More >>
20 hours ago Monday, December 17 2018 Dec 17, 2018 Monday, December 17, 2018 6:34:00 PM CST December 17, 2018 in News
COLUMBIA- Denico Crawley, the man convicted of murder stemming from the case of Quenten Hurt, was sentenced to 105 years... More >>
21 hours ago Monday, December 17 2018 Dec 17, 2018 Monday, December 17, 2018 6:06:00 PM CST December 17, 2018 in News
CALLAWAY COUNTY - A jury trial for two defendants in the death of Carl DeBrodie has been postponed, according to... More >>
21 hours ago Monday, December 17 2018 Dec 17, 2018 Monday, December 17, 2018 5:45:00 PM CST December 17, 2018 in News
ST.LOUIS - Missouri salt supply usage is at a high since early snowfall hit the midwest in November. In... More >>
22 hours ago Monday, December 17 2018 Dec 17, 2018 Monday, December 17, 2018 4:09:00 PM CST December 17, 2018 in News
COLUMBIA - Council members agreed to narrow down the number of hiring companies who applied to be in charge of... More >>
1 day ago Monday, December 17 2018 Dec 17, 2018 Monday, December 17, 2018 2:37:00 PM CST December 17, 2018 in News
COLUMBIA – Emergency crews spent most of Monday morning removing a semi-truck from a front yard after it veered off... More >>
1 day ago Monday, December 17 2018 Dec 17, 2018 Monday, December 17, 2018 2:16:00 PM CST December 17, 2018 in News
JEFFERSON CITY - Motorists are advised to avoid the area near Missouri Boulevard this evening, from the intersection of West... More >>
1 day ago Monday, December 17 2018 Dec 17, 2018 Monday, December 17, 2018 1:34:00 PM CST December 17, 2018 in News
FLORISSANT (AP) — Authorities say a 12-year-old boy accidentally shot and killed his 6-year-old sister in suburban St. Louis while... More >>
1 day ago Monday, December 17 2018 Dec 17, 2018 Monday, December 17, 2018 12:00:00 PM CST December 17, 2018 in News
SPRINGFIELD (AP) — A Missouri poacher has been ordered to repeatedly watch the movie "Bambi" as part of his sentence... More >>
1 day ago Monday, December 17 2018 Dec 17, 2018 Monday, December 17, 2018 10:18:00 AM CST December 17, 2018 in News
JEFFERSON CITY - SSM Health and MU Health Care will host the last of three scheduled public forums Monday night... More >>
1 day ago Monday, December 17 2018 Dec 17, 2018 Monday, December 17, 2018 3:10:00 AM CST December 17, 2018 in Top Stories
Columbia, MO
Broken Clouds 56°
4pm 55°
5pm 53°
6pm 49°
7pm 46°