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Costco Wholesale Corp. (COST)

Closing Price Change:
-$5.99
Closing Price:
$285.13
Market Cap:
$125,350m

US close: Stocks decline amid growing concerns over first rate hike

28 May 15

LONDON (ShareCast) - US stocks on Thursday amid growing concerns over the timing of the first Federal Reserve rate hike.
The Dow Jones Industrial Average closed down 36.87 points to 18,126.12, while the S&P 500 and the Nasdaq lost three and 10 points respectively.

John Williams, president of the San Francisco Fed, told the Monetary Authority of Singapore the central bank was likely raise interest rates later in 2015, reiterating what Fed chairwoman Janet Yellen said on Friday.

"The US market is somewhat sheltered from the fallout in the Eurozone, but while corporate reporting remains thin and the Fed remains tight-lipped, traders are turning to Europe for direction," said IG's market analyst David Madden.

Speculations over the timing of the first rate hike continued to boost the dollar, which surged to a 12-year high against the yen on Thursday.

The greenback gained 0.25% against the pound but lost 0.42% against the euro, while gold futures climbed 0.19% to $1,188.30.

Housing data impresses

According to the Department of Labour, initial weekly US unemployment claims rose by 7,000 to reach 282,000 over the seven days ended on 23 May, compared with forecasts calling for a reading of 270,000.

"This week's uptick in initial and continuing claims comes off of historically low levels and labor market separations remain healthy," Barclays' analysts said in a note.

Meanwhile, US pending home sales reached their highest level in nine years in April after increasing for the fourth consecutive month.

Figures released by the National Association of Realtors showed the index reached a seasonally adjusted 112.4 in April, a 14% increase year-on-year and a 3.4% rise month-on-month, way ahead of expectations calling for a 1% increase.

Mixed earnings on Wall Street

In company news, retailer Costco Wholesale shed 0.69% after reporting earlier on Thursday that its third quarter profit rose, on the back of low gas prices and strong store sales.

Chip maker Broadcom fell 1.78% agreeing to a $37bn cash and stock takeover bid from sector peer Avago Technologies, which edged 0.61% higher.

Clothing retailer Abercrombie & Fitch jumped 13.7% despite reporting a wider-than-expected loss during the first quarter.

Oil prices reversed earlier losses to edge forward, with West Texas Intermediate climbing 0.64% to $57.88 a barrel, while Brent gained 1.11% to $62.76 a barrel.

S&P 500 - Risers
Western Digital Corp. (WDC) $99.23 +5.15%
GameStop Corp. (GME) $40.84 +3.47%
Johnson Controls Inc. (JCI) $53.00 +2.99%
Chipotle Mexican Grill Inc. (CMG) $630.09 +2.87%
Ralph Lauren Corp (RL) $131.86 +2.81%
VF Corp. (VFC) $71.10 +2.42%
Molson Coors Brewing Co. Class B (TAP) $74.55 +2.17%
Windstream Holdings Inc (WIN) $8.28 +2.10%
Actavis plc (ACT) $313.02 +2.03%
Eli Lilly and Company (LLY) $76.39 +1.99%

S&P 500 - Fallers
Chesapeake Energy Corp. (CHK) $14.05 -4.81%
Southwestern Energy Co. (SWN) $25.68 -3.68%
CONSOL Energy Inc. (CNX) $28.49 -3.55%
Range Resources Corp. (RRC) $55.47 -3.16%
Joy Global Inc. (JOY) $39.66 -3.13%
QEP Resources Inc (QEP) $18.64 -2.46%
Rowan Companies plc (RDC) $21.83 -2.46%
Cimarex Energy Co (XEC) $114.32 -2.27%
EQT Corp. (EQT) $85.63 -2.25%
Cabot Oil & Gas Corp. (COG) $33.86 -2.22%

Dow Jones I.A - Risers
E.I. du Pont de Nemours and Co. (DD) $71.46 +0.96%
Intel Corp. (INTC) $34.02 +0.92%
Pfizer Inc. (PFE) $34.45 +0.44%
Merck & Co. Inc. (MRK) $59.70 +0.40%
General Electric Co. (GE) $27.63 +0.40%
Unitedhealth Group Inc. (UNH) $119.65 +0.17%
Chevron Corp. (CVX) $103.28 +0.16%
Walt Disney Co. (DIS) $110.54 +0.15%
Visa Inc. (V) $69.59 +0.14%
Cisco Systems Inc. (CSCO) $29.35 +0.14%

Dow Jones I.A - Fallers
McDonald's Corp. (MCD) $96.49 -2.20%
Caterpillar Inc. (CAT) $86.02 -2.16%
Nike Inc. (NKE) $102.28 -0.54%
Boeing Co. (BA) $142.32 -0.48%
Wal-Mart Stores Inc. (WMT) $74.86 -0.44%
JP Morgan Chase & Co. (JPM) $66.20 -0.41%
Microsoft Corp. (MSFT) $47.45 -0.34%
Goldman Sachs Group Inc. (GS) $208.57 -0.23%
Apple Inc. (AAPL) $131.78 -0.20%
International Business Machines Corp. (IBM) $171.72 -0.16%

Nasdaq 100 - Risers
Western Digital Corp. (WDC) $99.23 +5.15%
eBay Inc. (EBAY) $60.56 +1.99%
Seagate Technology Plc (STX) $56.37 +1.85%
Staples Inc. (SPLS) $16.49 +1.66%
Garmin Ltd. (GRMN) $46.21 +1.65%
Tesla Motors Inc (TSLA) $251.45 +1.62%
Check Point Software Technologies Ltd. (CHKP) $85.19 +1.61%
Nvidia Corp. (NVDA) $22.14 +1.37%
Vodafone Group Plc ADS (VOD) $39.18 +1.37%
Kraft Foods Group, Inc. (KRFT) $85.14 +0.96%

Nasdaq 100 - Fallers
Sirius XM Holdings Inc (SIRI) $3.80 -2.56%
Vimpelcom Ltd Ads (VIP) $6.14 -2.38%
TripAdvisor Inc. (TRIP) $76.80 -2.17%
Expeditors International Of Washington Inc. (EXPD) $45.98 -2.13%
Amgen Inc. (AMGN) $157.34 -1.93%
Altera Corp. (ALTR) $46.97 -1.86%
Autodesk Inc. (ADSK) $54.55 -1.69%
Intuitive Surgical Inc. (ISRG) $485.79 -1.59%
Broadcom Corp. (BRCM) $56.25 -1.58%
PACCAR Inc. (PCAR) $65.17 -1.56%

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are end of day values only.

 

Market Data

Currency US Dollars
52 Week High $324.08
52 Week Low $239.58
Shares Issued 439.63m
Market Cap $125,350m

Dividends

No dividends found