- Texas man arrested for powder-letter hoax
- Islamic State opens ‘marriage bureau’ for single jihadists
- Drone almost blocks California firefighting planes
- Tornado rips off roofs, downs trees near Boston
- GOP: Environmental rules keeping agents from accessing border
- John Kerry: Millions displaced by religious fighting in 2013
- Federal appeals court rules against Virginia’s gay marriage ban
- White House says Russia ‘losing’ war in Ukraine
- Hamas turns to North Korea for weapons deal, Iran for money
- Syrian casualties surge as jihadis consolidate
Dow Jones average hits highest mark since 2007
Question of the Day
Judging by its track record, May isn’t a promising month for stocks. Since World War II, the S&P 500 has gained an average of 0.31 percent in May. For all months, the average gain is 0.67 percent.
“It’s a very undistinguished month,” Stovall said.
Among stocks making big moves:
• Sears Holdings Corp. soared 15 percent, the biggest gain in the S&P 500. The operator of Kmart and Sears stores expects to post a first-quarter profit thanks to a gain from the sale of some U.S. and Canadian stores. The company’s stock has jumped 99 percent so far this year.
• Archer Daniels Midland Co. gained 7 percent after the food conglomerate reported profits that beat analysts’ expectations. Profits dropped by nearly a third over the past year, pulled down by one-time charges and lower weaker results from its ethanol and oilseeds businesses.
• Avon Products Inc. fell 8 percent, the largest drop in the S&P. The company said earnings plunged 82 percent, hurt by a bigger restructuring charge, commodity costs and rising labor costs. The results were worse than analysts had expected.
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