- Marcus Jacob
- 11 Aug, 2011
- New York City
Stocks in Australia seesawed all day and closed nearly unchanged after bargain hunters searched for values amid a weakening global economic backdrop. July unemployment rose to 5.1% from 4.9% in June. David Jones lowered its earnings outlook and reported weak quarterly sales.
- Bikram Pandey
- 10 Aug, 2011
- New York City
U.S. indexes plunged more than 4% erasing all the gains of one-day rally. Nervous market dragged stocks lower on the growing belief that the economy may be sliding towards recession. Banks in Europe and the U.S. declined on the worries that France may have to bailout its banks. Gold gained 3%.
- Mukesh Buch
- 10 Aug, 2011
- New York City
Capital One agreed to acquire HSBC
- Arthi Gupta
- 10 Aug, 2011
- New York City
The UK indexes slumped after the Bank of England trimmed its growth and inflation outlook. UK riots expand to three more cities on the fourth day. Ireland industrial production declined in June and new car registrations fell in July. Standard Life first-half net revenues rose 7.4% to £5.24 billion.
- Arthi Gupta
- 10 Aug, 2011
- New York City
U.S. indexes plunged 3% after the Fed guided low rates for two years and announced no new measures to lift the economic growth. U.S. mortgage applications surged to 21.7%. Capital One agreed to acquire HSBC’s domestic credit card business for $2.6 billion. Macy''s earnings soared 64%.
- Nigel Thomas
- 10 Aug, 2011
- New York City
Stocks in Japan traded higher after the U.S. Federal Reserve left its key lending rate near zero and guided low rates for another two years. Exports linked stocks were lower as the yen firmed up. Sony confirmed that rioters burned down one of its warehouses in London.
- Arthi Gupta
- 10 Aug, 2011
- New York City
European indexes rebounded after a week of chaotic trading. The IEA lowered its 2011 global oil demand growth forecast. The SNB lifted banks'' sight deposits to curb franc appreciation. E.ON planned slashing about 11,000 jobs and Nestle first-half net fell 16%.
- Arthi Gupta
- 10 Aug, 2011
- New York City
French industrial output fell and current account deficit narrowed in June. German annual inflation was at 2.4% and Portugal inflation eased to 7-month low in July. Norwegian factory price inflation was 16.1% in July.
- Marcus Jacob
- 10 Aug, 2011
- New York City
Australian stocks soared following a strong rebound in Asian markets tracking gains in overnight trading in New York. The broad rally lifted resources linked stocks, banks and retailers. China trade surplus rose to a record high in 30 months.
- Bikram Pandey
- 09 Aug, 2011
- New York City
U.S. stocks bounced between gains and losses of 2% or more after the Fed held its key lending rate and guided low rates till mid-2013 and did not announce new measures to lift economic growth. Gold traded above platinum for the first time in three years. AOL Inc plunged 30% to a record low.
- Bikram Pandey
- 09 Aug, 2011
- New York City
The S&P 500 and the Nasdaq soared as high as 3.5% ahead of the Fed meeting this afternoon. The confidence was recovered after stocks fell the most in 32 months but trading volume lagged market expectations. European markers rebounded and oil and god gained.
- Mukesh Buch
- 09 Aug, 2011
- New York City
AOL reported second quarter net loss shrank 99% to $11.8 million. DISH Network second quarter net income increased 30% to $335 million. EchoStar second quarter net income swung to $18 million. Sempra Energy second quarter net income rose to $511 million.
- Bikram Pandey
- 09 Aug, 2011
- New York City
European markets rebounded after dropping as much as 3% in the morning. The sharp reversal in New York trading ahead of the Fed meeting lifted the sentiment. Belgium based insurance and banking group KBC reported higher than expected earnings. London riots continue for the third day.
- Nigel Thomas
- 09 Aug, 2011
- New York City
Stocks in Japan plunged for the third day and extended three day losses to 7.4%. The Nikkei index plunged as much as 4.8% in the morning trading but managed to rebound at close down 1.7%. The broader Topix wiped out all the gains since the rebound after the triple disaster in March.
- Marcus Jacob
- 09 Aug, 2011
- New York City
Australian stocks defied region-wide plunge and rebounded from the earlier plunge of 5.5% to close up 1.2%. The sharp reversal was driven by a broad buying and after China reported weaker than expected inflation in July. Gold soared but crude oil dropped 4.5%.