Weekly Market Wrap: June 13, 2014

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The twenty fourth trading week of 2014 comes to a close with US markets higher in the last hour of trading.

Names such as OpenTable (OPEN), Express (EXPR), and Yelp (YELP) are leading the way higher.


Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for June 13, 2014.

The Dow Jones Industrial Average, S&P 500, and NASDAQ Composite are all lower for the week.

Crude oil futures are significantly higher this week, trading at $106.66 per barrel on Friday afternoon.

And Gold futures are higher for the week, trading at $1276.98 an ounce on Friday afternoon.

In economic news, the U.S. Census Bureau announced that April 2014 sales of merchant wholesalers, except manufacturers' sales branches and offices, after adjustment for seasonal variations and trading-day differences but not for price changes, were $450.2 billion, up 1.3 percent from the revised March level and were up 7.8 percent from the April 2013 level. The March preliminary estimate was revised upward $0.9 billion or 0.2 percent. April sales of durable goods were up 1.7 percent from last month and were up 6.0 percent from a year ago.

Total inventories of merchant wholesalers, except manufacturers' sales branches and offices, after adjustment for seasonal variations but not for price changes, were $530.6 billion at the end of April, up 1.1 percent from the revised March level and were up 6.7 percent from the April 2013 level. The March preliminary estimate was revised downward $0.1 billion. April inventories of durable goods were up 0.9 percent from last month and were up 6.6 percent from a year ago.

In the week ending June 7, the advance figure for seasonally adjusted initial claims was 317,000, an increase of 4,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 312,000 to 313,000. The 4-week moving average was 315,250, an increase of 4,750 from the previous week's revised average. The previous week's average was revised up by 250 from 310,250 to 310,500.

The Producer Price Index for final demand fell 0.2 percent in May, seasonally adjusted, the U.S.

Bureau of Labor Statistics reported. This decline followed increases of 0.6 percent in April and 0.5 percent in March. On an unadjusted basis, the index for final demand advanced 2.0

percent for the 12 months ended in May.

In May, the 0.2-percent decrease in final demand prices can be traced to the indexes for final demand services and final demand goods, both of which also declined 0.2 percent.

Within intermediate demand, prices for processed goods edged down 0.1 percent, the index for unprocessed goods was unchanged, and prices for services fell 0.4 percent.

In highlights of corporate dividend news, Abbott Labs ( ABT ) declared its quarterly dividend of 22 cents per share, maintaining the amount paid to shareholders the previous quarter.

United Technologies ( UTX ) declared, effective July 7, a dividend of 59 cents per common share payable September 10 to shareowners of record at the close of business August 15. The ex-dividend date is August 13.

Colgate-Palmolive ( CL ) declared quarterly cash dividends of $0.36 per common share, payable on August 15, 2014, to shareholders of record on July 18, 2014. The Company has paid uninterrupted dividends on its common stock since 1895.

Microsoft declared a quarterly dividend of $0.28 per share. The dividend is payable Sept. 11, 2014 to shareholders of record on Aug. 21, 2014. The ex-dividend date will be Aug. 19, 2014.

Philip Morris International ( PM ) declared a regular quarterly dividend of $0.94 per common share, payable on July 11, 2014, to shareholders of record as of June 26, 2014. The ex-dividend date is June 24, 2014.

And, The TJX Companies ( TJX ) announced the declaration of a quarterly dividend on its common stock of $.175 per share payable September 4, 2014, to shareholders of record on August 14, 2014.

This is the 'Weekly Market Wrap' for Friday, June 13, 2014. Please join us on Monday for the Week Ahead Market Report.

Weekly Market Wrap: June 13, 2014 VIDEO: Weekly Market Wrap: June 13, 2014



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Investing Ideas

Referenced Stocks: ABT , UTX , CL , PM , TJX

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