Weekly Market Wrap: May 16, 2014

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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 16, 2014.

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 Friday afternoon.

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 ( HPQ ) 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 ( WDC ) 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 27, 2014.

Southwest Airlines ( LUV ) declared its quarterly dividend of 6 cents per share, an increase of 50% over its prior dividend.

Macy's ( M ) declared its quarterly dividend of 31.25 cents per share, an increase of about 25% over its prior dividend.

American Express ( AXP ) 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.

Weekly Market Wrap: May 16, 2014 VIDEO: Weekly Market Wrap: May 16, 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: HPQ , WDC , LUV , M , AXP

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