The thirty second trading week of 2014 comes to a close with US markets higher in late afternoon trading.
Most actively traded stocks include Zynga (NASDAQ:ZNGA) down 4.6%, Sirius XM Holdings (NASDAQ:SIRI) up 1.79%, Sprint (NYSE:S) down 3.83%, Bank of America (NYSE:BAC) up 0.07% and Apple (NASDAQ:AAPL) up 0.19%.
Hi. I'm Sayoko Murase. Welcome to the 'Weekly Market Wrap' for August 8, 2014.
The Dow Jones Industrial Average and S&P 500 are both slightly lower for the week, while the Nasdaq Composite is a touch higher for the period.
Crude oil futures are almost flat this week, trading at $97.58 per barrel on Friday afternoon.
And Gold futures are higher for the week, trading at $1310.22 an ounce.
In economic news, new orders for manufactured goods in June, up four of the last five months, increased $5.7 billion or 1.1 percent to $503.2 billion, the U.S. Census Bureau reported. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.6 percent May decrease. Excluding transportation, new orders increased 1.1 percent. Shipments, up four of the last five months, increased $2.5 billion or 0.5 percent to $499.8 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.1 percent May decrease.
Unfilled orders, up fourteen of the last fifteen months, increased $10.4 billion or 1.0 percent to $1,098.5 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.7 percent May increase. The unfilled orders-to-shipments ratio was 6.52, unchanged from May.
Inventories, up nineteen of the last twenty months, increased $1.8 billion or 0.3 percent to $653.8 billion. This was also at the highest level since the series was first published on a NAICS basis and followed a 0.8 percent May increase. The inventories-to-shipments ratio was 1.31, unchanged from May.
In the week ending August 2, the advance figure for seasonally adjusted initial claims was 289,000, a decrease of 14,000 from the previous week's revised level. The previous week's level was revised up by 1,000 from 302,000 to 303,000. The 4-week moving average was 293,500, a decrease of 4,000 from the previous week's revised average. This is the lowest level for this average since February 25, 2006 when it was 290,750. The previous week's average was revised up by 250 from 297,250 to 297,500.
The U.S. Census Bureau announced that June 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 $454.4 billion, up 0.2 percent from the revised May level and were up 6.5 percent from the June 2013 level. The May preliminary estimate was revised upward $0.2 billion. June sales of durable goods were up 1.4 percent from last month and were up 6.6 percent from a year ago. Sales of nondurable goods were down 0.7 percent from May, but were up 6.5 percent from last June. Sales of farm product raw materials were down 8.1 percent from last month.
Total inventories of merchant wholesalers, except manufacturers' sales branches and offices, after adjustment for seasonal variations but not for price changes, were $533.5 billion at the end of June, up 0.3 percent from the revised May level and were up 7.9 percent from the June 2013 level. The May preliminary estimate was revised downward $0.9 billion or 0.2 percent. June inventories of durable goods were up 0.7 percent from last month and were up 8.8 percent from a year ago. Inventories of metals and minerals, except petroleum, were up 3.2 percent from last month and inventories of computer and computer peripheral equipment and software were up 1.8 percent. Inventories of nondurable goods were down 0.2 percent from May, but were up 6.4 percent from last June. Inventories of farm product raw materials were down 5.3 percent from last month, while inventories of chemicals and allied products were up 2.6 percent.
Twenty-First Century Fox has declared a dividend of $0.125 per Class A and Class B share. This dividend is payable on October 15, 2014 with a record date for determining dividend entitlements of September 10, 2014.
General Dynamics (NYSE:GD) declared a regular quarterly dividend of 62 cents per share on the company's common stock, payable November 14, 2014, to shareholders of record on October 10.
Archer Daniels Midland Company's (NYSE:ADM) Board of Directors declared a cash dividend of 24.0 cents per share on the company's common stock payable Sept. 11, 2014, to Stockholders of record Aug. 21, 2014.
Bank of America approved an increase in the quarterly common stock dividend to $0.05 per share from $0.01 per share. The dividend is payable September 26 to shareholders of record as of September 5.
Time Warner (NYSE:TWX) declared a regular quarterly cash dividend of $0.3175 per share of Common Stock, payable in cash on September 15, 2014 to stockholders of record on August 31, 2014.
Walgreen increased the quarterly dividend to 33.75 cents per share, a 7.1 percent increase over the year-ago quarterly dividend of 31.5 cents per share. The increased dividend is payable Sept. 12, 2014, to shareholders of record Aug. 21, 2014, and raises the annual rate from $1.26 per share to $1.35 per share. This marks the 39th consecutive year Walgreens has raised its dividend.
Monsanto Company (NYSE:MON) declared a quarterly dividend on its common stock of 49 cents per share. The dividend relates to the company's fourth quarter of its 2014 fiscal year and is payable on October 31, 2014, to shareowners of record on October 10, 2014.
And, American International Group (NYSE:AIG) declared a dividend of $0.125 per share on AIG common stock, par value $2.50 per share. The dividend is payable on September 25, 2014 to stockholders of record at the close of business on September 11, 2014.
This is the 'Weekly Market Wrap' for Friday, August 8, 2014. Please join us on Monday for the Week Ahead Market Report.
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