The Herald Bulletin

Afternoon Update

Breaking News

March 31, 2014

US stocks rise as investors close out quarter

NEW YORK —  Stocks rose broadly in midday trading Monday as the market headed for its fifth straight quarterly gain. Microsoft led the technology sector higher.

KEEPING SCORE: The Standard & Poor's 500 index rose 15 points, or 0.8 percent, to 1,872 as of 12:15 p.m. Eastern. The Dow Jones industrial average rose 123 points, or 0.7 percent, to 16,446. The technology-heavy Nasdaq composite rose 53 points, or 1.3 percent, to 4,209.

BROAD GAINS: Twenty-eight of the 30 members stocks in the Dow average rose. Microsoft continued to rise after its Office for iPad software was released last week to highly positive reviews. Microsoft rose $1.04, or 3 percent, to $41.34. The stock is up 8 percent this month.

HEALTHCARE DEAL: Johnson & Johnson accepted an offer of about $4 billion from the private equity firm Carlyle Group to buy its Ortho-Clinical Diagnostics business. J&J said the deal for the blood-testing unit should close by mid-year. J&J rose 39 cents, or 0.5 percent, to $97.83.

QUARTER END: Trading is expected to be heavier and more volatile Monday as investors close out their first-quarter positions. At the end of each quarter, fund managers will often sell their worst-performing stocks and buy more of their best-performing stocks in an effort to make their portfolios look better when investors get their quarterly statements. The phenomenon has the Wall Street nickname of "window dressing." If the stock market closes higher Monday, it would be the fifth-straight quarterly rise for the S&P 500.

"There's a lot of re-allocation going on today," said J.J. Kinahan, chief strategist with TD Ameritrade.

YELLEN: In a speech, Federal Reserve Chair Janet Yellen said Monday that she thinks the struggling U.S. job market will continue to need the help of low interest rates "for some time." Her remarks come after investors have grown anxious that the Fed might raise short-term rates starting in mid-2015. Yellen has previously suggested that the Fed could start raising short-term rates six months after it halts its bond purchases, which most economists expect by year's end.

MORE GM WOES: General Motors fell 40 cents, or 1 percent, to $34.33. Congressional investigators released a memo Sunday that showed GM was familiar with its ignition switch defects in 2005, but did nothing to address the problem. GM's CEO Mary Barra is scheduled to appear in front of Congress Tuesday to address the automaker's recalls.

OTHER MARKETS: Bond prices fell. The yield on the 10-year Treasury note edged up to 2.74 percent from 2.72 percent late Friday. The price of crude oil slipped 42 cents to $101.25. Gold dropped $4.80 to $1,289.50 an ounce.

 

1
Text Only
Breaking News
  • Indianapolis mayor backs tax to hire more officers

    Indianapolis Mayor Greg Ballard is seeking a tax increase to pay for hiring more police officers as part of a wide-ranging response to the city's recent surge in deadly violence.

    July 30, 2014

  • Colts Camp update: Will injured players return?

    Cornerback Vontae Davis and safety LaRon Landry have yet to participate in a training camp practice, and running back Trent Richardson has missed four straight after running through drills on opening day. Indianapolis Colts head coach Chuck Pagano doesn't want to rush any of those players back onto the field. But he made it clear Wednesday morning at Anderson University that he hopes to see them back soon.

    July 30, 2014

  • Ticket me Elmo? NYC mulls law for impersonators

     New York City officials are turning up the heat on Elmo, Cookie Monster and Statue of Liberty impersonators — Times Square costumed characters who often demand money for posing in photos with tourists.

    July 30, 2014

  • US economy grew at strong 4 percent rate in spring

    After a dismal winter, the U.S. economy sprang back to life in the April-June quarter, growing at a fast 4 percent annual rate on the strength of higher consumer and business spending.

    July 30, 2014

  • Pence wants immigrant children taken out of state

    Gov. Mike Pence is asking that more than 200 immigrant children placed in Indiana be deported and chiding President Barack Obama for not alerting him of the placements.

    July 30, 2014

  • Broken water main floods UCLA; 5 people rescued

    A broken water main near the UCLA campus Tuesday sent a geyser of water some 30 feet into the air, trapping people in underground parking garages and covering some of the best-known parts of campus in water, including the school's famed basketball arena.

    July 30, 2014

  • Senior housing project advances If all the pieces fall into place within the next two weeks, construction on a new senior housing development could begin this fall.

    July 30, 2014

  • Officials: Indiana sheriff gave prostitute uniform

    A southern Indiana sheriff accused of patronizing a prostitute gave the woman a deputy's badge and uniform so she could get hotel discounts, then later encouraged her to get rid of the evidence, authorities said Tuesday.

    July 29, 2014

  • Three-drink limit for beer, wine at Indiana Fair

    Strict limits will be in place when the Indiana State Fair sells alcoholic drinks for the first since 1946 when its 17-day run begins Friday.

    July 29, 2014

  • Poll: Immigration concerns rise with tide of kids

    For nearly two months, images of immigrant children who have crossed the border without a parent, only to wind up in concrete holding cells once in United States, have tugged at heartstrings. Yet most Americans now say U.S. law should be changed so they can be sent home quickly, without a deportation hearing.

    July 29, 2014

Featured Ads
More Resources from The Herald Bulletin
AP Video
Obama Chides House GOP for Pursuing Lawsuit New Bill Aims to Curb Sexual Assault on Campus Russia Counts Cost of New US, EU Sanctions 3Doodler Bring 3-D Printing to Your Hand Six PA Cops Indicted for Robbing Drug Dealers Britain Testing Driverless Cars on Roadways Raw: Thousands Flocking to German Crop Circle At Least 20 Chikungunya Cases in New Jersey Raw: Obama Eats Ribs in Kansas City In Virginia, the Rise of a New Space Coast Raw: Otters Enjoy Water Slides at Japan Zoo NCAA Settles Head-injury Suit, Will Change Rules Raw: Japanese Soldiers Storm Beach in Exercises Raw: Weapons Fire Hits UN School in Gaza Raw: Rocket Launches Into Space With Cargo Ship Broken Water Main Floods UCLA Two Women Narrowly Avoid Being Hit by Train Crayola Announces Family Attraction in Orlando
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

Now that Andrew Luck is getting ready to start the third year of his NFL career, did the Colts make the right decision to release Peyton Manning and turn the offense over to Luck?

Yes, the future is bright.
No, the Colts would have won another Super Bowl by now if they had kept Manning.
Don't know; don't care
     View Results