Weekly Market Wrap: September 12, 2014
The Online Investor - Fri., Sep. 12, 3:19 PM
The thirty seventh trading week of 2014 comes to a close with the S&P 500, NASDAQ and Dow Jones lower in early afternoon trading today.
Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for September 12, 2014.
The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite are all lower for the week.
Crude oil futures are lower this week, trading at $93.14 per barrel on Friday afternoon.
And Gold futures are also down this week, trading at $1233.47 an ounce this afternoon.
In economic news, in the week ending September 6, the advance figure for seasonally adjusted initial claims was 315,000, an increase of 11,000 from the previous week's revised level. The previous week's level was revised up by 2,000 from 302,000 to 304,000. The 4-week moving average was 304,000, an increase of 750 from the previous week's revised average. The previous week's average was revised up by 500 from 302,750 to 303,250.
The advance seasonally adjusted insured unemployment rate was 1.9 percent for the week ending August 30, unchanged from the previous week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending August 30 was 2,487,000, an increase of 9,000 from the previous week's revised level.
The U.S. Census Bureau announced that advance estimates of U.S. retail and food services sales for August, adjusted for seasonal variation and holiday and trading-day differences, but not for price changes, were $444.4 billion, an increase of 0.6 percent from the previous month, and 5.0 percent above August 2013. Total sales for the June through August 2014 period were up 4.5 percent from the same period a year ago. The June to July 2014 percent change was revised from virtually unchanged to 0.3 percent.
Retail trade sales were up 0.6 percent from July 2014, and 4.8 percent above last year. Auto and other motor vehicle dealers were up 9.5 percent from August 2013 and health and personal care stores were up 8.1 percent from last year.
In corporate dividend news, Colgate-Palmolive (NYSE:CL) declared quarterly cash dividends of $.36 per common share, payable on November 14, 2014, to shareholders of record on October 17, 2014.
Tyco International (NYSE:TYC) declared a quarterly dividend of $0.18 per share, payable on November 13, 2014, to shareholders of record at the close of trading on the New York Stock Exchange on October 24, 2014.
Philip Morris International (NYSE:PM), increased the company's regular quarterly dividend by 6.4% to an annualized rate of $4.00 per share. The new quarterly dividend of $1.00 per share, up from $0.94 per share, is payable on October 10, 2014, to stockholders of record as of September 25, 2014. The ex-dividend date is September 23, 2014.
International Paper (NYSE:IP) increased the company's quarterly dividend by 14% from $.35 to $0.40 per share for the period from October 1, 2014, to December 31, 2014, inclusive, on its common stock, par value $1.00. This dividend is payable on December 15, 2014, to holders of record at the close of business on November 17, 2014.
And, Applied Materials has approved a quarterly cash dividend of $0.10 per share payable on the company's common stock. The dividend is payable on December 11, 2014 to stockholders of record as of November 20, 2014.
This is the 'Weekly Market Wrap' for Friday, September 12, 2014. Please join us on Monday for the Week Ahead Market Report.