The Herald Bulletin

Morning Update

Breaking News

December 24, 2013

Stocks edge higher following durable goods report

NEW YORK —  Stocks edged higher on Wall Street on Tuesday, helped by a report that showed American companies were investing in their businesses at the fastest pace since January.

Trading was quiet ahead of the Christmas holiday. U.S. markets will close early on Tuesday and will remain closed on Wednesday.

Bond prices fell on the latest positive news on the U.S. economy. The yield on the 10-year Treasury note, a benchmark for many kinds of loans including home mortgages, moved closer to 3 percent.

KEEPING SCORE: The Dow Jones industrial average rose 41 points, or 0.3 percent, to 16,335 as of 10:57 a.m. Eastern. The Standard & Poor's 500 index rose four points, or 0.2 percent, to 1,832 and the Nasdaq composite rose two points, or 0.1 percent, to 4,151.

TESLA BOOST: Tesla Motors jumped $9.60, or 7 percent, to $153.12. The National Highway Traffic Safety Administration kept its 5-star safety rating on the company's Model S sedan, despite recent reports of battery-related fires. There have been no reported injuries or deaths related to any Tesla car fires.

HOME SALES: Homebuilder stocks rose after the government reported that new home sales rose at a faster pace than analysts were expecting last month. Lennar rose 54 cents, to 1.5 percent, to $39.31 and PulteGroup was up 16 cents, or 1 percent, to $19.87.

GOODS ORDERS: Orders for long-lasting manufactured products rose 3.5 percent in November, more than economists were expecting. It was the latest sign of improvement in the U.S. economy. Core capital goods, a category that tracks business investment, jumped 4.5 percent, the biggest gain since January.

FIVE DAYS OF GAINS: Stocks have been rising steadily since Wednesday, after the Federal Reserve surprised investors by announcing it was cutting back its bond-buying program, or "tapering" it, as it's sometimes called on Wall Street. The Fed will reduce its bond purchases to $75 billion a month beginning in January, down from $85 billion.

TIME TO PULL AWAY THE SAFETY NET?: "If the data keeps being this positive, it could force Fed to taper more quickly and pull away this safety net the market has had," said Uri Landesman, president of the hedge fund Platinum Partners. Landesman said he expects 2014 to more volatile for the stock market.

BOND YIELDS: The yield on the 10-year Treasury note rose to 2.97 percent from 2.93 percent the day before. Treasury yields have been climbing steadily since the Fed's announcement last Wednesday.

TARGET'S WOES CONTINUE: Target fell 33 cents, or 1 percent, to $61.55 after the company said Monday night that the U.S. Justice Department is investigating the credit and debit card security breach at the company. Target revealed last week that data connected to about 40 million credit and debit card accounts were stolen between Nov. 27 and Dec. 15. Target executives have been meeting with state attorneys general to discuss the matter.

EARLY CLOSE: The New York Stock Exchange and the Nasdaq Stock Market will close at 1 p.m. Eastern time on Tuesday. The exchanges will also be closed on Christmas Day and will reopen for a full day of trading on Thursday.

 

1
Text Only
Breaking News
  • Public smoke-out marks pot holiday in Colorado

    Tens of thousands of revelers raised joints, pipes and vaporizer devices to the sky Sunday at a central Denver park in a defiant toast to the April 20 pot holiday, a once-underground celebration that stepped into the mainstream in the first state in the nation to legalize recreational marijuana.

    April 20, 2014

  • Miss America: Rethink suspension over prom query

    Miss America is asking a Pennsylvania school district to reconsider the punishment of a high school senior who asked her to prom during the question-and-answer portion of an assembly.

    April 20, 2014

  • 2 Indianapolis fires leave 1 dead, 20 displaced Two Indianapolis fires have left one man dead and about 20 residents of an apartment building looking for new homes.

    April 20, 2014

  • Ellspermann, Susan Ellspermann to deliver AU commencement address Indiana Lt. Gov. Susan Ellspermann will address the Anderson University Class of 2014 during commencement exercises on Saturday, May 10.

    April 20, 2014 1 Photo

  • 500 Festival Mini Marathon might not fill field

    With less than two weeks to go, the 38th 500 Festival Mini Marathon might not have a full field for the first time in 12 years.

    April 20, 2014

  • Turner case tests bounds of 'citizen legislature'

    When a legislative ethics panel meets this week to review the case of House Speaker Pro Tem Eric Turner, members could have trouble finding clear-cut answers, in large part because of the Indiana General Assembly's status as a "citizen legislature."

    April 20, 2014

  • news_popefrancis.jpg Pope Francis, huge crowd joyously celebrate Easter

    Celebrating Easter Sunday, Christianity's most joyous and hopeful day, Pope Francis prayed for peace in Ukraine and Syria and for an end to the terrorist attacks in Nigeria that have targeted many Christians.

    April 20, 2014 1 Photo

  • news_24restaurants.jpg Mayor's menu filled up: One day, 24 restaurants

    Jenkintown (Pa.) Mayor Ed Foley, in a gut-busting campaign to draw attention to the tiny borough's varied restaurant scene, set out to visit all 24 of them on Saturday, starting with a pre-dawn visit to IHOP.

    April 20, 2014 1 Photo

  • news_ukraine.jpg US weighing military exercises in Eastern Europe

    The United States is considering deploying about 150 soldiers for military exercises to begin in Poland and Estonia in the next few weeks, a Western official said Saturday.

    April 20, 2014 1 Photo

  • news_skoreaferry.jpg 10 more bodies found inside sunken ferry by divers

    Divers recovered 13 bodies from inside a ferry that sank off South Korea, pushing the confirmed death toll to 46, officials said Sunday. The discovery came after rescuers finally gained access to the inside of the ship following three days of failure and frustration caused by strong currents and bad visibility due to inclement weather.

    April 20, 2014 1 Photo

Featured Ads
More Resources from The Herald Bulletin
AP Video
Raw: More Than 100,000 Gather for Easter Sunday Raw: Greeks Celebrate Easter With "Rocket War" Police Question Captain, Crew on Ferry Disaster Raw: Orthodox Christians Observe Easter Rite Ceremony Marks 19th Anniversary of OKC Bombing Raw: Four French Journalists Freed From Syria Raw: Massive 7.2 Earthquake Rocks Mexico Captain of Sunken SKorean Ferry Arrested Raw: Fire Destroys 3 N.J. Beachfront Homes Raw: Pope Presides Over Good Friday Mass Raw: Space X Launches to Space Station Superheroes Descend on Capitol Mall Man Charged in Kansas City Highway Shootings Obama Awards Navy Football Trophy Anti-semitic Leaflets Posted in Eastern Ukraine Raw: Magnitude-7.2 Earthquake Shakes Mexico City Ceremony at MIT Remembers One of Boston's Finest Raw: Students Hurt in Colo. School Bus Crash Deadly Avalanche Sweeps Slopes of Mount Everest
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Helium debate
Helium
Front page
Poll

Oscar Pistorius' murder trial has gripped South Africa and sports fans worldwide. If he is found guilty of premeditated murder he faces 25 years to life in prison. Do you think he intentionally shot his girlfriend?

Yes
No
Unsure
     View Results