The thirty first trading week of 2014 comes to a close with US
markets flat to lower in late afternoon trading.
Most actively traded stocks include Bank of America (BAC) down
1.57%, Sirius XM Holdings (SIRI) down 1.5%, Apple (AAPL) up 0.83%,
and Facebook (FB) flat.
Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for
August 1, 2014.
The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite
are all sharply lower for the week.
Crude oil futures are significantly lower this week, trading at
$97.77 per barrel on Friday afternoon.
And Gold futures are also lower for the week, trading at $1293.90
In economic news, in the week ending July 26, the advance figure
for seasonally adjusted initial claims was 302,000, an increase of
23,000 from the previous week's revised level. The previous week's
level was revised down by 5,000 from 284,000 to 279,000. The 4-week
moving average was 297,250, a decrease of 3,500 from the previous
week's revised average. This is the lowest level for this average
since April 15, 2006 when it was 296,000. The previous week's
average was revised down by 1,250 from 302,000 to 300,750.
The advance seasonally adjusted insured unemployment rate was 1.9
percent for the week ending July 19, unchanged from the previous
week's unrevised rate. The advance number for seasonally adjusted
insured unemployment during the week ending July 19 was 2,539,000,
an increase of 31,000 from the previous week's revised level. The
previous week's level was revised up 8,000 from 2,500,000 to
2,508,000. The 4-week moving average was 2,535,250, a decrease of
9,000 from the previous week's revised average. This is the lowest
level for this average since October 13, 2007 when it was
2,527,500. The previous week's average was revised up by 2,000 from
2,542,250 to 2,544,250.
Total nonfarm payroll employment increased by 209,000 in July, and
the unemployment rate
was little changed at 6.2 percent, the U.S. Bureau of Labor
Statistics reported. Job gains occurred in professional and
business services, manufacturing, retail trade, and construction.
Both the unemployment rate (6.2 percent) and the number of
unemployed persons (9.7 million) changed little in July. Over the
past 12 months, the unemployment rate and the number of unemployed
persons have declined by 1.1 percentage points and 1.7 million,
Personal income increased $56.7 billion, or 0.4 percent, and
disposable personal income (DPI) increased $51.5 billion, or 0.4
percent, in June, according to the Bureau of Economic Analysis.
Personal consumption expenditures (PCE) increased $51.7 billion, or
0.4 percent. In May, personal income increased $57.4 billion, or
0.4 percent, DPI increased $55.0 billion, or 0.4 percent, and PCE
increased $39.8 billion, or 0.3 percent, based on revised
In highlights of corporate dividend news, IBM (
) declared a regular quarterly cash dividend of $1.10 per common
share, payable September 10, 2014 to stockholders of record August
Exelon Corporation declared a regular quarterly dividend of $0.31
per share on Exelon's common stock. The dividend is payable on
Sept. 10, 2014, to shareholders of record of Exelon as of 5:00 p.m.
New York Time on Aug. 15, 2014.
Wynn Resorts has approved a cash dividend for the quarter of $1.25
per common share. This dividend will be payable on August 26, 2014,
to stockholders of record on August 12, 2014.
Ameriprise Financial (
) has declared a quarterly cash dividend of $0.58 per common share
payable on August 22, 2014 to shareholders of record at the close
of business on August 11, 2014.
Southwest Airlines' (
) Board of Directors declared a quarterly dividend of $.06 per
share to Shareholders of record at the close of business on August
21, 2014 on all shares then issued and outstanding. The 152nd
consecutive dividend will be paid on September 12, 2014.
) declared a quarterly dividend of one dollar and seven cents per
share, payable September 10, 2014, to holders of common stock as
shown on the transfer records of the Corporation at the close of
business on August 19, 2014.
And, Capital One Financial (
) announced a quarterly dividend of $0.30 per share payable August
21, 2014 to stockholders of record as of the close of business on
August 11, 2014.
This is the 'Weekly Market Wrap' for Friday, August 1, 2014. Please
join us on Monday for the Week Ahead Market Report.
VIDEO: Weekly Market Wrap: August 1, 2014