Mar 7, 2013
At Dow's Peak, 2 Long-Time Bulls Pull in Their Horns, Howard Gold: Money Show Investors Daily Alert March 7, 2013.
INVESTORS DAILY ALERT
The Daily Guru
Investors Be Warned: Yield and Payout Are Not the Same, Ron Muhlenkamp
At Dow's Peak, 2 Long-Time Bulls Pull in Their Horns, Howard Gold
Jim Jubak on MoneyShow.com
TOP PROS' TOP PICKS
Invest in Our Energy Future, Robert Rapier
Diamonds Aren't Her Only Best Friend, Marc Gerstein
GURUS' VIEWS & STRATEGIES
Don't be Tempted by Exuberance, Doug Fabian
CHARTS IN PLAY
Add Fuel to Your Portfolio, Tom Aspray
MoneyShow.com Exclusive Interviews
Central Bankers' Hot Air Shortage, Jim Jubak
IDEAS FROM AROUND THE WORLD
Profit from the Rebound in These 4 Global Commodity Names, George Putnam
Today's Featured Videos
Goldwatcher—$2,400/oz? $5,479/oz? $46,000/oz?, Frank Holmes
Consumers Are Still Crunched, Chris Versace
March 7, 2013
By THOMAS B. EDSALL
Why aren't we talking about what the public wants when it comes to Social Security and Medicare?
By JOHN W. FITZPATRICK
The Gunnison sage grouse, only recently known to science, is going extinct, right before our eyes.
By LINDA GREENHOUSE
The Supreme Court appears ready to eviscerate the Voting Rights Act - and seriously harm itself in the process.
At a time when Republicans are divided on many social issues, the budget wars are one of the few things that unite them.
China's voracious appetite for ivory continues to devastate Africa's elephants.
His policies improved conditions for poor Venezuelans, but he left a stained legacy, and his main theme seemed to be taunting the United States.
New York City schools are among the least effective in the country in providing free breakfast to low-income children.
Read the full opinion report, including editorials, columns, op-eds and Opinionator. Go to the Section »
By FRANCIS X. CLINES
Why are people on the F.B.I.'s terrorist watch list legally entitled to buy guns?
By ROSS DOUTHAT
Why elite self-interest may be a bigger obstacle to Republican reform than grassroots ideology.
Joe Nocera's Blog
A day in the life of armed America.
Dot Earth Blog
By ANDREW C. REVKIN
A long, deep look at the strategy and tactics of Bill McKibben, the ultramarathoner of climate campaigners.
Wall Street at Close Report March 7, 2012.: U.S. stocks climb as jobless claims dip by Kate Gibson, MarketWatch
By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) — U.S. stocks rose Thursday, with the Dow Jones Industrial Average closing at another record high, as jobless claims fell to a six-week low, casting a positive spin on the labor front a day before the monthly employment report.
“The four-week moving average has come down significantly, from 335,000 to 348,000. And it correlates with the ADP number, which is usually a pretty good sign of where we are headed, so another piece of good news that could keep the train rolling,” said Art Hogan, market strategist at Lazard Capital Markets.
After finishing at a record high on Wednesday for a second day straight, the Dow industrials DJIA +0.23% on Thursday rose 33.25 points, or 0.2%, to 14,329.49, with the blue-chip index extending gains into a fifth session. See: Stock bulls versus bears: a 12-chart battleground.
Dell among stocks to watch
Michael Casey outlines three stocks to watch on Thursday, including Dell. Carl Icahn is pushing for a huge special dividend instead of a leveraged buyout by founder Michael Dell.
Financials led sector gains and utilities fared most poorly among the 10 major sectors on the S&P 500 index SPX +0.18% , up 2.80 points, or 0.2%, to 1,544.26, leaving it 21 points from its record closing high set in October 2007.
“Typically, the stock market moves up about 2% to 3% following a breakout to a new all-time high, then begins a modest correction,” Fred Dickson, chief investment strategist at Davidson Cos., wrote in emailed commentary.
The Nasdaq Composite Index COMP +0.30% advanced 9.72 points, or 0.3%, to 3,232.08.
For every two stocks falling three gained on the New York Stock Exchange, where 708 million shares traded.
Composite volume approached 3.6 billion.
Ciena Corp. CIEN +17.34% gained 17% after the fiber-optic networking-equipment maker posted quarterly earnings that beat estimates; PetSmart Inc. PETM -6.57% fell 6.6% after projecting earnings and sales growth below estimates, and Colgate-Palmolive Co. CL +0.05% rose 0.1% after the seller of soap and household cleaners hiked its dividend and approving a 2-for-1 stock split.
On the New York Mercantile Exchange, crude-oil futures for April delivery CLJ3 +1.08% climbed $1.13, or 1.3%, to end at $91.56 a barrel and gold futures for April delivery GCJ3 +0.17% added 20 cents to $1,575.10 an ounce.
The euro EURUSD -0.01% gained against other major currencies, including the U.S. dollar, after the European Central Bank held its benchmark rate at a record low and ECB President Mario Draghi said economic reports point to a stabilizing economy.
Ralph Orlowski/Getty Images Enlarge Image
The Bank of England stuck with its target for quantitative easing, while the Bank of Japan dismissed calls that it begin asset purchases. See: ECB policy unchanged; Draghi faces Italy questions.
The Labor Department said initial applications for unemployment benefits unexpected declined by 7,000 to 340,000 last week, with the six-week average falling to its lowest level since March 2008. See: U.S. jobless claims fall to 340,000,
The better-than-expected illustration of an improving labor market comes a day ahead of the government’s monthly jobs report, with the unemployment rate at 7.9% in January.
Another Labor Department report on Thursday had the productivity of American workers dropping in the fourth quarter as companies hired more and increased hours. See: U.S. fourth-quarter productivity falls 1.9%.
And Commerce Department data had the trade deficit widening in January on increased demand for imported crude. See: U.S. trade gap widens in January.
Kate Gibson is a reporter for MarketWatch, based in New York.
DealBook P.M. Edition March 7, 2013.: Deal Professor: For Icahn, a Game of Chicken With Dell's Board
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Thursday, March 7, 2013