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Wednesday, April 28, 2010

Market Focus 4/28/2010

Stock Market Closing Prices – 4/28/10

Dow ( DJIA ) Close - 11045.27 +53.28
Nasdaq Stock Close – 2471.73 +0.26
S&P 500 Close – 1191.36 +7.65

Commodities Closing Prices – 4/28/10
Gold Close - 1171.30 +0.00
Oil Close – 83.27 +0.05
Natural Gas – 4.29

Stocks finished modestly higher after the Federal Reserve decided today to hold its key rates near zero for an extended period of time.

The Fed said that, even with an economic recovery in progress, it's not the right time to raise interest rates. Lack of job growth and a weak housing market continue to be major problems.

The Senate officially kicked off debate of Wall Street reform on Wednesday evening.

Financial stocks led the market higher this afternoon, with Goldman Sachs (GS) up 2.6%
to $157.01. JPMorgan Chase (JPM) up 2.5% to $43.46.

After the close of trading, Hewlett-Packard (HPQ) announced a deal to buy troubled smart-phone maker Palm (PALM) for $5.7 a share, or $1.2 billion.

Gold and oil both rose.

Futures trading suggests that stocks will open higher on Thursday.

Stock Market April 29, 2010

Labor Department releases initial weekly jobless claims data. 8:30 a.m.

Exxon Mobil is set to release quarterly results. Before market open.
Procter & Gamble is scheduled to post quarterly results. Before market open.
ConocoPhillips is scheduled to release quarterly results. Before market open.

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