The twentieth trading week of 2014 comes to a close with US
markets trading higher in the last hour.
Names such as J.C. Penney (JCP), Dillard's (DDS), Nordstrom (JWN)
are leading the charge on the day's gains.
Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for May
The Dow Jones Industrial Average, S&P 500, and NASDAQ Composite
are all lower for the week.
Crude oil futures are higher this week, trading at $102.02 per
barrel on Friday afternoon.
And Gold futures are also up, trading at $1293.42 an ounce on
In economic news, the U.S. Census Bureau announced that advance
estimates of U.S. retail and food services sales for April,
adjusted for seasonal
variation and holiday and trading-day differences, but not for
price changes, were $434.6 billion, an increase of 0.1 percent from
the previous month, and 4.0 percent above April 2013. Total sales
for the February 2014 through April 2014 period were up 3.3 percent
from the same period a year ago. The February 2014 to March 2014
percent change was revised from +1.2 percent to +1.5 percent.
The Producer Price Index for final demand advanced 0.6 percent in
April, seasonally adjusted, the U.S. Bureau of Labor Statistics
reported. This increase followed a rise of 0.5 percent in March and
a decline of 0.1 percent in February. On an unadjusted basis, the
index for final demand moved up 2.1 percent for the 12 months ended
in April, the largest 12-month advance since a 2.4-percent increase
in March 2012. In April, the 0.6-percent increase in final demand
prices can be traced to the indexes for final demand services and
final demand goods, both of which also advanced 0.6 percent.
The Consumer Price Index for All Urban Consumers increased 0.3
percent in April on a seasonally adjusted basis, the U.S. Bureau of
Labor Statistics reported. Over the last 12 months, the all items
index increased 2.0 percent before seasonal adjustment. The indexes
for gasoline, shelter, and food all rose in April and contributed
to the seasonally adjusted all items increase.
Privately-owned housing units authorized by building permits in
April were at a seasonally adjusted annual rate of 1,080,000. This
is 8.0 percent above the revised March rate of 1,000,000 and is 3.8
percent above the April 2013 estimate of 1,040,000.
Privately-owned housing starts in April were at a seasonally
adjusted annual rate of 1,072,000. This is 13.2 percent above the
revised March estimate of 947,000 and is 26.4 percent above the
April 2013 rate of 848,000.
Privately-owned housing completions in April were at a seasonally
adjusted annual rate of 847,000. This is 3.9 percent below the
revised March estimate of 881,000, but is 21.2 percent above the
April 2013 rate of 699,000.
In highlights of corporate dividend news, HP (
) has declared a regular cash dividend of $0.16 per share on the
company's common stock. The dividend, the third in HP's fiscal year
2014, is payable on July 2, 2014, to stockholders of record as of
the close of business on June 11, 2014.
Western Digital (
) declared a cash dividend for the quarter ending June 27, 2014, of
$0.40 per share of common stock. The cash dividend will be paid on
July 15, 2014 to the company's stockholders of record as of June
Southwest Airlines (
) declared its quarterly dividend of 6 cents per share, an increase
of 50% over its prior dividend.
) declared its quarterly dividend of 31.25 cents per share, an
increase of about 25% over its prior dividend.
American Express (
) announced its quarterly dividend of 26 cents per share, an
increase of about 13% over its prior dividend. And Anadarko
Petroleum (APC) announced its quarterly dividend of 27 cents per
share, an increase of 50%.
This is the 'Weekly Market Wrap' for Friday, May 16, 2014. Please
join us on Monday for the Week Ahead Market Report.
VIDEO: Weekly Market Wrap: May 16, 2014