Stocks continued to gain today after it was reported that
pending home sales increased in March. Additionally, the Dallas Fed
reported that manufacturing activity in Texas worsened in April.
(INDEXDJX:.DJI) increased 0.57% to 14,796.24. The
(INDEXSP:.INX) climbed 0.67% to 1,592.91, and the
(INDEXNASDAQ:.IXIC) rose 0.98% to 3,311.36.
The Bureau of Economic Analysis of the US Department of Commerce
stated today in its Personal Income and Outlays Report for March
that personal income increased by $30.9 billion, or 0.2%, and
disposable personal income increased $21 billion, or 0.2%. Also,
real disposable income increased 0.3% and real personal consumption
expenditures increased 0.3%. Read the press release
The Federal Reserve Bank of Dallas reported today in its Texas
Manufacturing Outlook Survey that the General Business Activity
Index decreased from 7.4 in March to -15.6 in April, its lowest
level since July 2012. A reading below zero indicates contraction
or a worsening in business activity or outlook. The production
index fell from 9.9 in March to -0.5 in April. Read the full report
The National Association of Realtors reported today that its
Pending Home Sales Index, which measures contract signings for home
sales, increased 1.5% month-over-month to 105.7 in March.
Year-over-year, the index has increased 7% from 98.8. Pending home
sales have exceeded levels from the prior year for the past 23
months. Read the press release
The US Treasury announced today that it will auction $30 billion
worth of 4-week Treasury bills tomorrow. The Treasury also
announced today that it auctioned $29 billion worth of 3-month
Treasury bills with a rate of 0.050% and with a bid-to-cover ratio
of 4.86, and $24 billion worth of 6-month Treasury bills with a
rate of 0.080% and with a bid-to-cover ratio of 5.43.
) jumped 3.34% to $431.16. Apple has begun the process of launching
its first ever debt sale to help fund a $100 billion capital return
program for shareholders.
) will lead the process.
) rose 2.20% to $32.49. Last week Microsoft issued $1.95 billion
worth of dollar denominated debt with a weighted average coupon of
2.41%. Five months earlier, it offered similar bonds with a 2.33%
rate, with interest rates that were around the same.
) climbed 2.92% to $22.01. The bank has hired Michele A. Davis to
head its corporate communications department. Ms. Davis previously
worked as a partner at public relations firm Brunswick Group, which
advised Treasury Secretary Henry Paulson during the financial
crisis. Her experience also includes counseling
(BP) after its 2010 oil spill.
(MCO) spiked 8.82% to $59.98. Standard & Poor's, Moody's, and
Morgan Stanley announced on Friday that they settled lawsuits with
Abu Dhabi Commercial Bank and King County, Washington. The two
plaintiffs sued the rating agencies in 2008 and 2009 for allegedly
misleading them on two structured investment vehicles called Cheyne
and Rhinebridge by inflating their ratings.
(FSLR) rose 3.38% to $45.57.