Weekly Market Wrap: September 19, 2014
The Online Investor - Fri., Sep. 19, 3:15 PM
The thirty eighth trading week of 2014 comes to a close with the S&P 500 and NASDAQ lower and the Dow Jones slightly higher in early afternoon trading today.
Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for September 19, 2014.
The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite are all higher for the week.
Crude oil futures are lower this week, trading at $92.10 per barrel on Friday afternoon.
And Gold futures are also down this week, trading at $1216.85 an ounce this afternoon.
In economic news, the Producer Price Index for final demand was unchanged in August, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices advanced 0.1 percent in July and 0.4 percent in June. On an unadjusted basis, the index for final demand increased 1.8 percent for the 12 months ended in August. In August, a 0.3-percent rise in prices for final demand services offset a 0.3-percent decrease in the index for final demand goods.
The Consumer Price Index for All Urban Consumers decreased 0.2 percent in August on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported. Over the last 12 months, the all items index increased 1.7 percent before seasonal adjustment.
The seasonally adjusted decline in the all items index was the first since April 2013. The indexes for food and shelter rose, but the increases were more than offset by declines in energy indexes, especially gasoline. The energy index fell 2.6 percent, with the gasoline index declining 4.1 percent and the indexes for natural gas and fuel oil also decreasing.
In the week ending September 13, the advance figure for seasonally adjusted initial claims was 280,000, a decrease of 36,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 315,000 to 316,000. The 4-week moving average was 299,500, a decrease of 4,750 from the previous week's revised average. The previous week's average was revised up by 250 from 304,000 to 304,250.
In corporate dividend news, Marsh & McLennan Companies (NYSE:MMC) declared a quarterly dividend of $.28 per share on outstanding common stock, payable on November 17, 2014, to shareholders of record on October 10, 2014.
Iron Mountain (NYSE:IRM) declared its first quarterly distribution as a Real Estate Investment Trust of $0.475 per share, payable on October 15, 2014 to stockholders of record on September 25, 2014. The company also declared the remaining special distribution to stockholders of $700 million, or approximately $3.62 per share based on the number of shares currently outstanding, required in connection with the company's conversion to a REIT. The Special Distribution is payable on November 4, 2014 to stockholders of record as of the close of business on September 30, 2014.
Liberty Property Trust (NYSE:LPT) has declared a cash dividend of $0.475 per share on the company's common shares of beneficial interest for the third quarter of 2014. The dividend will be payable on October 15, 2014 to shareholders of record on October 1, 2014.
And, Steel Dynamics (NASDAQ:STLD) has declared a quarterly cash dividend of $0.1150 per common share. The dividend is payable to shareholders of record at the close of business on September 30, 2014, and is payable on or about October 10, 2014.
This is the 'Weekly Market Wrap' for Friday, September 19, 2014. Please join us on Monday for the Week Ahead Market Report.