Stocks: Ending the quarter on a high note

  @CNNMoneyInvest June 28, 2013: 9:14 AM ET
S&P Futures 9:00am

Click chart for more market data.

NEW YORK (CNNMoney)

All three major U.S. indexes are on track to end 2013's second quarter Friday with modest gains, despite a rough June.

U.S. stock futures were mixed ahead of the open. Fed officials have been in damage control mode lately trying to quell fears that the central bank might soon end or scale back its bond massive bond buying program that has been a big driver of the bull market.

Yet in trying to allay investor fears, Fed governor Jeremy Stein might have inadvertently spooked investors. He said the Fed could consider tapering bond buying in September. But Stein also said investors were overreacting.

Fed chairman Ben Bernanke kicked off tumult in the stock, bond, and gold markets last week, when he said the central bank could start tapering later this year, if the economy continues to improve.

Related: Fed officials in damage control mode

The mere mention of tapering has sent bond investors scrambling for the exits. The yield on the 10-year Treasury note hit 2.65% earlier this week -- its highest level since August 2011 and well above the 1.6% in early May.

Gold prices got slammed as well. Prices are down 13% so far this month.

While June has been negative for investors, stocks are on track to end the quarter up 3%. Year-to-date, stocks are up 12% to 15%.

U.S. stocks rallied for a third day Thursday, as investors shook off concerns about waning central bank stimulus.

Related: Fear & Greed Index nudges up to fear

Embattled mobile company Blackberry (BBRY) reported first-quarter results Friday that fell short of analysts' forecasts. Shares fell 16% in premarket trading.

Nike (NKE, Fortune 500) shares edged lower in premarket trading, easing from strong after-hours gains following a strong earnings report. Shares of outsourcing and consulting firm Accenture (ACN) were lower after the firm cut expectations for its year-end results.

Shares of Pfizer (PFE, Fortune 500) edged higher in premarket trading after the drug maker announced late Thursday that it would increased its share buyback program by $10 billion.

European markets advanced in morning trading, while Asian markets ended in positive territory.

The benchmark Nikkei boomed on positive economic data out of Japan, adding 3.5%. The Shanghai Composite increased 1.5% and the Hang Seng closed 1.8% higher. To top of page



Join the Conversation
Markets
Sponsored by
Index Last Change % Change
Dow 16,408.54 -16.31 -0.10%
Nasdaq 4,095.52 9.29 0.23%
S&P 500 1,864.85 2.54 0.14%
Treasuries 2.72 0.08 3.19%
Data as of 1:55pm ET
Company Price Change % Change
Bank of America Corp... 16.15 0.00 0.00%
Facebook Inc 58.94 0.00 0.00%
General Electric Co 26.56 0.00 0.00%
Cisco Systems Inc 23.19 -0.02 -0.09%
Micron Technology In... 23.91 0.00 0.00%
Data as of Apr 17
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.36%4.24%
15 yr fixed3.39%3.26%
5/1 ARM3.36%3.27%
30 yr refi4.34%4.22%
15 yr refi3.38%3.24%
View rates in your area
 
Find personalized rates:
Rate data provided
by Bankrate.com
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.