The nineteenth trading week of 2014 comes to a close with US
markets basically flat in mid-afternoon trading.
Names such as Jones Energy (
), The E.W. Scripps Company (
) and Groupon (
) are significantly higher on the day, while RadioShack (
), TETRA Technologies (
) and Demand Media (DMD) are seeing their stocks lower into the
Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for May
The Dow Jones Industrial Average is higher on the week, while the
S&P 500 is relatively flat and the NASDAQ Composite is lower
for the period.
Crude oil futures are flat this week, trading at $99.76 per barrel
on Friday afternoon.
And Gold futures are lower, trading at $1287.40 an ounce on Friday
In economic news, the U.S. Census Bureau and the U.S. Bureau of
Economic Analysis, through the Department of Commerce, announced
that total March exports of $193.9 billion and imports of $234.3
billion resulted in a goods and services deficit of $40.4 billion,
down from $41.9 billion in February, revised. March exports were
$3.9 billion more than February exports of $190.0 billion. March
imports were $2.5 billion more than February imports of $231.8
In terms of unemployment insurance weekly claims, in the week
ending May 3, the advance figure for seasonally adjusted initial
claims was 319,000, a decrease of 26,000 from the previous week's
revised level. The previous week's level was revised up by 1,000
from 344,000 to 345,000. The 4-week moving average was 324,750, an
increase of 4,500 from the previous week's revised average. The
previous week's average was revised up by 250 from 320,000 to
The U.S. Census Bureau announced that March 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 $443.4 billion, up 1.4
percent from the revised February level and were up 6.5 percent
from the March 2013 level. The February preliminary estimate was
revised upward $1.1 billion or 0.2 percent. March sales of durable
goods were up 1.4 percent from last month and were up 4.9 percent
from a year ago. Sales of electrical and electronic goods were up
4.2 percent from last month and sales of metals and minerals,
except petroleum were up 2.2 percent. Sales of nondurable goods
were up 1.5 percent from February and were up 7.9 percent from last
March. Sales of farm product raw materials were up 6.0 percent from
last month and sales of grocery and related products were up 3.2
In highlights of corporate dividend news, H&R Block (HRB)
announced that its Board of Directors declared a quarterly cash
dividend of 20 cents per share, payable July 1, 2014, to
shareholders of record as of June 16, 2014.
Phillips 66 (PSX) has declared a quarterly dividend of 50 cents per
share on Phillips 66 common stock, representing an increase of
approximately 28 percent from the prior quarter. The dividend is
payable on June 2, 2014, to shareholders of record at the close of
business on May 19, 2014.
American International Group declared a dividend of $0.125 per
share on AIG common stock, par value $2.50 per share. The dividend
is payable on June 24, 2014, to stockholders of record at the close
of business on Tuesday, June 10, 2014.
And, Eli Lilly and Company (LLY) has declared a dividend for the
second quarter of 2014 of $0.49 per share on outstanding common
stock. The dividend is payable June 10, 2014 to shareholders of
record at the close of business on May 15, 2014.
This is the 'Weekly Market Wrap' for Friday, May 9, 2014. Please
join us on Monday for the Week Ahead Market Report.
VIDEO: Weekly Market Wrap: May 9, 2014