Tag: Dow Jones

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PSE&G Selected for Top Sustainability Index by Dow Jones for the 10th Year in a Row

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September 14,2017
the staff of the Ridgewood blog

Ridgewood NJ, Marking a decade of sustainability leadership, Public Service Enterprise Group (PSEG) has been named to the Dow Jones Sustainability Index for North America for the 10th consecutive year.

The Dow Jones Sustainability Indices (DJSI) recognize forward-thinking companies based on an appraisal of the company’s strategy, management and performance in dealing with opportunities and risks deriving from environmental, social and governance factors. The DJSI tracks the performance of the 600 largest U.S. and Canadian companies in the S&P Global Broad Market Index and recognizes the top 20 percent that lead the field in terms of sustainability. PSEG was one of seven American utility companies selected for the list.

“Our 13,000 employees work every day to build a sustainable energy future — one that fosters economically viable and environmentally advantaged solutions for people and our planet,” said Ralph Izzo, PSEG’s chairman, president and CEO. “Securing a position on the list of North America’s top sustainable companies for a decade is a strong endorsement of our efforts. We are well aware that our success depends on being responsive to the energy needs of our customers and the larger society around us.”

In 2016, PSEG continued its focus on providing reliable and cleaner energy. PSE&G, the company’s regulated utility, is in the midst of replacing 500 miles of aging natural gas pipe throughout New Jersey and has proposed accelerating the replacement of an additional 1,250 miles of gas lines. This important work not only enhances the safety and reliability of our energy infrastructure, it also reduces the release of methane, a potent greenhouse gas, and creates hundreds of jobs.

PSEG’s commitment doesn’t stop there:

PSEG also has been recognized for expanding customer access to energy efficiency and clean renewable solar power.
The company has invested more than $1.5 billion to develop or finance solar power.
PSE&G is investing more than $400 million to help hospitals, apartment buildings and government facilities reduce their utility bills.
The company recently won approval to begin offering residential customers smart thermostats and data analytics to help them better manage their energy consumption.

In addition, PSEG is regularly recognized for the way it goes about its business, making the Forbes list of Most Admired Companies and Fortune’s Just 100 List, which celebrates America’s best corporate citizens.

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Wall Street welcomes Trump with a bang

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by Matt Egan   @mattmegan5November 9, 2016: 4:10 PM ET

That didn’t take long. An overnight panic in global markets evaporated as Wall Street gave an emphatic welcome to President-elect Donald Trump.

The Dow soared 257 points and brushed up against lifetime highs on Wednesday, in defiance of those who predicted Trump’s election would bring about a plunge in the stock market. The S&P 500 and the Nasdaq rose 1.1% apiece.

The impressive market performance represents a dramatic reversal from the knee-jerk panic in global markets overnight as the results were coming in. Dow futures plummeted nearly 900 points at one point as investors expressed fear that no one would emerge victorious and concern about the inherent uncertainties brought on by a Trump White House.

https://money.cnn.com/2016/11/09/investing/dow-jones-trump-wins-election/

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WHOOPS: Dow kicks off 2016 with 400-point plunge on China fears

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Published: Jan 4, 2016 10:57 a.m. ET

The Dow Jones Industrial Average plunged about 400 points in early trade Monday as a 7% drop in Chinese shares stoked a global selloff in stocks.

The Dow DJIA, -2.42%  plunged nearly 411 points to 17,015, led by a drop in DuPont Co. DD, -4.08%  and American Express Co. AXP, -3.24%

The S&P 500 SPX, -2.32%  fell about 45 points to 1,998, led by a decline in technology stocks, financials and industrials. Only the S&P 500’s energy sector showed a modest gain as Middle Eastern tensions helped lift crude-oil prices.

“It is not surprising to see such a selloff considering negative headlines from China and tensions between Iran and Saudi Arabia. What is surprising is that it is happening on the first day of the year,” said Ryan Larson, head of equity trading at RBC Global Asset Management.

“While trading desk are busier than they normally would be on Mondays, this is not a panic selling, it’s orderly. We are likely to see this kind of volatility a lot in 2016,” Larson said.

The S&P 500-tracking “SPY” ETF opened down nearly 2%. According to Bespoke Investment Group analysts, since the SPY SPY, -2.24%  began trading in 1994, the ETF has opened lower on the first trading day of the year only twice in 22 years, and never by more than 1%.

Meanwhile, the Nasdaq Composite COMP, -2.86%  tumbled by 138 points to 4,869 as tech stocks took the brunt of Monday’s drop.

 

https://www.marketwatch.com/story/us-stocks-set-for-tumble-at-open-as-china-fears-return-2016-01-04

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BOOM: Dow, Nasdaq plunge 3% into correction

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Evelyn Cheng | @chengevelyn

U.S. stocks closed deep in the red on Friday as global growth concerns accelerated selling pressure to push the Dow into correction territory. (Tweet This )

The Dow Jones industrial average fell more than 500 points, into correction territory for the first time since 2011 as all blue chips declined. In the last five years, the index has only had four instances with closing losses of more than 400 points.

“For investors the momentum and the drive of the market is now lower (than) it used to be because there’s no place to hide,” said Lance Roberts, general partner at STA Wealth Management. “Every time we hit the major technical points we kept selling.”

A traders noted that investors stopped looking at techincals and were plowing through them.

“It’s an expiration day and it looks like they’re to have for sale on the close maybe as much as a billion dollars,” said Art Cashin, director of floor trading for UBS.

The Nasdaq Composite lost more than 3 percent, also closing in correction territory and joining the other major averages in negative territory for the year.

https://www.cnbc.com/2015/08/21/us-markets-global-growth.html

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Dow Plunges 317 Points, Wipes Out 2014 Gains

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Dow Plunges 317 Points, Wipes Out 2014 Gains

U.S. stocks sustained heavy losses on Thursday as traders ditched a wide swath of assets, leading the blue-chip average to hit the flat-line for 2014.

The Dow Jones Industrial Average fell 317 points, or 1.9%, to 16563, the S&P 500 tumbled 39.7 points, or 2%, to 1931 and the Nasdaq Composite dropped 93.1 points, or 2.1%, to 4370.

In a sign of the breadth of the selloff, every major sector was down by at least 1%. The biggest losers could be found in telecommunications, technology, energy and health care. Volume on the New York Stock Exchange was running about 40% higher than the one-month average. The VIX, a measure of implied volatility in U.S. stocks, surged 26%.

ExxonMobil (XOM), the world’s biggest publicly-traded energy company, revealed stronger-than-expected profits on the day, but revenues missed expectations. The Dow heavyweight’s shares fell more than 1%, suggesting they would weigh on the blue-chip average.

https://www.foxbusiness.com/markets/2014/07/31/dow-plunges-300-points-wipes-out-2014-gains/