Can't Hold A Good Stock Market Down: S&p 500 Sets Intraday Record

Stock Market Today: A Fired Software CEO and a Jewelers Gleaming Profit



The S&P rose four of five days this week. The only down day came Wednesday when traders were put off by comments from Federal Reserve Chairwoman Janet L. Yellen hinting that rates may rise sooner than anticipated. The Dow Jones industrial average was up 82.89 points, or 0.5%, at 16,413.94. Though the market has not powered ahead, it also has not suffered an extended sell-off. That has frustrated investors who have waited impatiently for a deeper downturn in hope of picking up bargains.









Symantec shares were down 10% in pre-market trading after the antivirus software providerlast night announced that it had fired CEO Steve Bennett and replaced him with an interim leader. Bennett took the CEO spot in July 2012, but the company's board of directors has been disappointed by the lack of progress in product innovation and revenue growth since then, according to the The Wall Street Journal . Efforts to turn around the business also haven't paid off for shareholders: Symantec's stock is down by 15% over the last year, while the broader market has risen by 20%. In announcing the CEO change, the company also affirmed its outlook for the current quarter, which calls for sales to fall by roughly 8%. Tiffany today announced results for its fourth quarter which included a 5% sales improvement to $1.3 billion. The jewelry maker also booked adjusted profit of $1.47 a share, which was only slightly below Wall Street's estimate of $1.52. Other good news included an uptick in profitability as gross margin rose by 1.4 percentage points to hit 60.5% of sales.





US stock market heads for a solid weekly gain





The Nasdaq composite dropped 24 click mike dillard the elevation group affiliate points, or 0.6 percent, to 4,296. COMPARE, CONTRAST: It might sound surprising that the stock market is trading near an all-time high with all the uncertainty surrounding China's slowing growth and simmering tensions between Russia and the West. But these concerns also highlight the relative health of the U.S. economy and stock market, said Dan Veru, chief investment officer of Palisade Capital Management in Fort Lee, N.J. COMING BACK: A week ago, the S&P 500 index turned in a 1.9 percent weekly loss, its worst slump in nearly two months. This week looks entirely different, with the S&P 500 up 1.8 percent, as concerns have eased over China's slower economic growth.