U.S. Stocks Advance as Tech Rally Offsets Global Growth Concern

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U.S. stocks rose, with the Nasdaq 100 Index rallying as gains from Apple Inc. to Netflix Inc. helped offset concerns that global growth is slowing.

Yahoo! Inc., Micron Technology Inc. and Apple jumped more than 2.3 percent to lead technology shares. Netflix surged 3.4 percent before reporting results. Delta Air Lines Inc. climbed 7.3 percent after earnings beat projections. Johnson & Johnson tumbled 2.6 percent after forecasting lower earnings in 2015 as competition cuts into revenue for some of its best-selling drugs. A gauge of homebuilders retreated 3 percent, after plunging almost 7 percent last week.

The Standard & Poor™s 500 Index gained 0.2 percent to 2,022.53 at 4 p.m. in New York, after an earlier decline of 0.7 percent. The Dow Jones Industrial Average added 4.5 points, or less than 0.1 percent, to 17,516.07. The Nasdaq 100 Index gained 0.7 percent. Trading in S&P 500 companies was 19 percent above the 30-day average for this time of the day. U.S. exchanges were closed yesterday for Martin Luther King Day.

The S&P 500 slipped 1.2 percent last week, even with a 1.3 percent rally on Friday, as falling oil, shrinking earnings estimates and concern that slowing global growth will hurt the U.S. economy led to selling. The index is down 1.8 percent for the year.

Source: Bloomberg

U.S. Stocks Fall on Weaker Outlook for Earnings, Global Growth

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U.S. stocks fell as results at companies from Morgan Stanley to Johnson & Johnson disappointed investors and the International Monetary Fund lowered its outlook for global growth.

Johnson & Johnson tumbled 3.4 percent after forecasting lower earnings in 2015 as competition cuts into revenue for some of its best-selling drugs. Morgan Stanley slipped 1.5 percent after profit missed analysts™ estimates. Energy shares declined 0.8 percent as oil futures tumbled 3.9 percent. A gauge of homebuilders retreated 3.1 percent, after plunging almost 7 percent last week.

The Standard & Poor™s 500 Index dropped 0.6 percent to 2,007.22 at 12:01 p.m. in New York. The Dow Jones Industrial Average lost 139.61 points, or 0.8 percent, to 17,371.96. The Russell 2000 Index tumbled 1.2 percent. Trading in S&P 500 companies was 20 percent above the 30-day average for this time of the day. U.S. exchanges were closed yesterday for Martin Luther King Day.

The S&P 500 slipped 1.2 percent last week, even with a 1.3 percent rally on Friday, as falling oil, shrinking earnings estimates and concern that slowing global growth will hurt the U.S. economy led to selling. The index is down 2.5 percent for the year.

Source : Bloomberg

Europe Stock Gain Fourth Day to Extend Highest Level Since 2008

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European stocks advanced for a fourth day, extending their highest level in seven years, amid speculation that the European Central Bank will announce a plan for quantitative easing this week.

The Stoxx Europe 600 Index added 0.8 percent to 355.96 at the close of trading, after earlier rising as much as 1.2 percent. Banks and miners led gains among 19 industry groups. The benchmark gauge has rallied 4.8 percent in the four days since the Swiss central bank unexpectedly abandoned its currency peg against the euro, a move that increased speculation of a government-bond buying program from the ECB.

ECB President Mario Draghi will make his biggest push yet to steer the euro area away from deflation by introducing quantitative easing at the Jan. 22 meeting, according to 93 percent of respondents in a Bloomberg News survey. The ECB president will probably announce a 550 billion-euro ($639 billion) bond purchase program, economists say.

Source : Bloomberg

Gold slips from four-month high, haven appeal lends support

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Gold eased from four-month highs on Monday as investors cashed in some of last week's hefty gains, though prices were still supported by wider market volatility that boosted the metal's appeal as a haven from risk.

A market rout after Switzerland unexpectedly abandoned a cap on the franc last week triggered strong bids for gold, often seen as an alternative to risky assets, sending prices to their highest since September at $1,281.50.

Spot gold was down 0.4 percent at $1,274.61 an ounce at 1652 GMT, while U.S. gold futures for February delivery were down $1.50 an ounce at $1,275.40. Spot gold is up nearly 8 percent this year.

Holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust, climbed 13.7 tonnes to 730.89 tonnes on Friday, its biggest one-day inflow in nearly 3-1/2 years.

Speculators raised their net long position in gold for the third straight week, ending Jan. 13, U.S. Commodity Futures Trading Commission data showed on Friday.

Silver was down 0.3 percent at $17.68 an ounce, while platinum was flat at $1,263.25 and palladium up 0.4 percent at $754.22.

Palladium bucked the trend for precious metals last week, falling more than 6 percent.

Source: Reuters