The seventeenth trading week of 2014 comes to a close with US
Markets significantly lower in mid-afternoon trading.
Names such as Facebook (
), Sirius XM Holdings (
), Plug Power (
) and Zynga (
) are leading the way lower this afternoon.
Hi. I'm Kristin Bianco. Welcome to the 'Weekly Market Wrap' for
April 25, 2014.
The Dow Jones Industrial Average, S&P 500 and the NASDAQ are
all flat to lower for the week.
Crude oil futures are sharply lower this week, trading at $100.66
per barrel on Friday afternoon.
And Gold futures are higher, trading at $1301.04 an ounce on Friday
In economic news, existing-home sales were essentially flat in
March, while the growth in home prices moderated, according to the
National Association of Realtors. Sales gains in the Northeast and
Midwest were offset by declines in the West and South.
Sales of new single-family houses in March 2014 were at a
seasonally adjusted annual rate of 384,000, according to estimates
released jointly today by the U.S. Census Bureau and the Department
of Housing and Urban Development. This is 14.5 percent below the
revised February rate of 449,000 and is 13.3 percent below the
March 2013 estimate of 443,000. The median sales price of new
houses sold in March 2014 was $290,000; the average sales price was
$334,200. The seasonally adjusted estimate of new houses for sale
at the end of March was 193,000. This represents a supply of 6.0
months at the current sales rate.
In the week ending April 19, the advance figure for seasonally
adjusted initial claims was 329,000, an increase of 24,000 from the
previous week's revised level. The previous week's level was
revised up by 1,000 from 304,000 to 305,000. The 4-week moving
average was 316,750, an increase of 4,750 from the previous week's
unrevised average of 312,000.
In highlights of corporate dividend news, Apple approved an
increase to the company's quarterly dividend of approximately 8
percent and has declared a dividend of $3.29 per common share,
payable on May 15, 2014 to shareholders of record as of the close
of business on May 12, 2014. The Company also plans to increase its
dividend on an annual basis.
Johnson & Johnson (
) announced that its Board of Directors has declared a 6.1%
increase in the quarterly dividend rate, from $0.66 per share to
$0.70 per share. The next quarterly dividend is payable on June 10,
2014 to shareholders of record at the close of business on May 27,
2014. The ex-dividend date is May 22, 2014.
Pfizer declared a 26-cent second-quarter 2014 dividend on the
company's common stock, payable June 3, 2014, to shareholders of
record at the close of business on May 9, 2014.
Citigroup declared a quarterly dividend on Citigroup's common stock
of $0.01 per share, payable on May 23, 2014 to stockholders of
record on May 5, 2014.
Visa (V) announced that its board of directors declared a quarterly
cash dividend of $0.40 per share of class A common stock payable on
June 3, 2014, to all holders of record of the Company's class A, B
and C common stock as of May 16, 2014.
MetLife (MET) increased their second quarter 2014 dividend by 27
Percent. The company declared a second quarter 2014 common stock
dividend of $0.35 per share, an increase from the prior quarterly
common stock dividend of $0.275 per share. The dividend will be
payable on June 13, 2014 to shareholders of record as of May 9,
And, Simon Property Group (SPG) declared a quarterly common stock
dividend of $1.30 per share. This is an increase of $0.05 from the
previous quarter, and a year-over-year increase of 13%. The
dividend will be payable on May 30, 2014 to stockholders of record
on May 16, 2014.
This is the 'Weekly Market Wrap' for Friday, April 25, 2014. Please
join us on Monday for the Week Ahead Market Report.
VIDEO: Weekly Market Wrap: April 25, 2014