Stock Market News for November 22, 2010

U.S. stocks closed with modest gains Friday as investors digested a week of volatile trading that was characterized by Ireland’s debt woes and worries about Chinese growth. The blue-chip Dow average, after trading much of the session in the negative territory, closed the day with a slight gain.

China’s announcement that it had raised banks’ reserve requirement dampened sentiments in the early going as worries intensified that demand for goods and commodities would be impacted. However, as the session wore on, traders grew hopeful that the Chinese move to curb inflation would not have a crippling effect on the global economic rebound.

Hopes also grew that Ireland’s acceptance of a bailout would put to rest speculations that Europe is in a mess and would safeguard the interests of other countries in the eurozone for the time being. Ireland – once a booming European economy – is likely to formally ask the European Union for a financial aid to shore up its banking sector.

On Friday, the Dow average closed with a gain of 22.32 points, or 0.2%, at 11203.55. The index has closed up in two of the last three weeks and is up 7.4% this year. The technology-focused Nasdaq Composite index added about 4 points, or 0.1%, to 2518. On the week, the Dow and the S&P closed with slight gains while the technology-Nasdaq ended with a meager drop. On the New York Stock Exchange, about two stocks rose in price for every one that declined.

However, this morning’s stock futures suggest a modestly lower opening, a day after Dublin agreed to ask for financial assistance from its neighbors. Ahead of the opening bell, the Dow futures were down 34 points at 11135. The S&P 500 futures fell 4.2 points to 1194.

The yield on the benchmark 10-year Treasury note dropped to 2.87% from 2.90% late Thursday.

Shares in Del Monte Foods (NYSE:DLM) jumped 11.5% after reports surfaced private equity firm Kohlberg Kravis Roberts had evinced interest in the company and was in advanced negotiations. AnnTaylor Stores (NYSE:ANN - Snapshot Report) jumped 8.5% after the company reported results that beat analysts’ estimates.

This week, of key interest to markets are corporate reports from Hewlett-Packard (NYSE:HPQ - Analyst Report), Analog Devices (NYSE:ADI - Analyst Report), Tyson (NYSE:TSN - Analyst Report) and Brocade Communications (NASDAQ:BRCD - Snapshot Report).

Tomorrow earnings are due from: Campbell Soup (NYSE:CPB - Analyst Report), Hormel (NYSE:HRL - Analyst Report), Guess (NYSE:GES - Analyst Report), J. Crew (NYSE:JCG), Medtronic (NYSE:MDT - Analyst Report), TiVo (NASDAQ:TIVO - Analyst Report) and Zale (NYSE:ZLC - Snapshot Report).

Read the full analyst report on DLM

Read the full analyst report on ANN

Read the full analyst report on HPQ

Read the full analyst report on ADI

Read the full analyst report on TSN

Read the full analyst report on BRCD

Read the full analyst report on CPB

Read the full analyst report on HRL

Read the full analyst report on GES

Read the full analyst report on JCG

Read the full analyst report on MDT

Read the full analyst report on TIVO