- 123jump.com Staff
- 17 Oct, 2008
- New York City
U.S. home starts in September dropped to 26-year low and fell two-third from the peak only two years ago. Crude oil gained on a speculation that OPEC will agree on a lowered production volumees. European markets close higher. Natural resource linked markets, Peru, Canada and UK closed higher.
- 123jump.com Staff
- 17 Oct, 2008
- New York City
Crude oil prices rebounded in London trading on a speculation that member nations will agree on a revised production quota imposed by OPEC. The association advanced its meeting next week to set price and production targets. Iran and Venezuela are leading the charge for production freeze.
- 123jump.com Staff
- 17 Oct, 2008
- New York City
Indian stocks plunged below 10,000 for the first time in two years led by a fall in financial and realty stocks. Weak investor confidence, tight interbank lending and rising interest rates played to the investor sentiment. Mutual funds redemptions stay at elevated levels.
- 123jump.com Staff
- 17 Oct, 2008
- New York City
U.S. stocks rebounded from the morning descent on weak existing home sales data confirmed the broad trend in the economy. Investors returned to the market in the early afternoon to cover the expiring options. Home builders fell. Google shot up on stronger than expected earnings.
- 123jump.com Staff
- 17 Oct, 2008
- New York City
Advanced Micro rose after the quarterly loss declined. Google surged 9% after quarterly earnings rose 26%. Honeywell fell after earnings rose 16%. ING Groep NV plunged 29% on capital worries. Wilmington Trust rose after net income fell 50%.
- 123jump.com Staff
- 17 Oct, 2008
- New York City
U.S. home starts fell to 26-year lows as difficult lending conditions drive speculators away from the market. Total new homes construction starts has fallen nearly two third from the record in January 2006. Google third quarter sales and earnings rise. European markets ride on a rise in oil prices.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
Shanghai and Hong Kong stocks plunged on the worries that exports from the region will decline as the U.S. enters a recession. The shipping freight rate index, Baltic Dry Index plunged 10% to the lowest in five years and dragged ship liners to 15% decline.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
Japan stocks plummeted 11.4% tracking losses in New York. Construction machiery, financials and exporters fell sharply. Komatsu, Hitachi Construction Machinery and Kubota Corp dropped more than 15%. Prime Minister Aso said that the bank bailout plan may not be sufficient.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
U.S. stock indexes rebounded more than 4% after crude oil fell to as low as $70 a barrel and metal and agriculture commodities prices fell. Bond insurers are preparing plans to participate in the U.S. bailout plan. Ambac and MBIA surge.Google third quarter net rises 26%.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
Australian stocks plunged 6.6% after the weak U.S. retail sales dragged markets in China and Japan. Global market worries dragged the indexes sharply lower in Asia. National Australia Bank reported full-year profit to September will fall 11% to A$3.9 billion from A$4.4 billion a year ago.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
The Bank of England offered liquidity of $254 billion to money markets in UK to restore interbank lending and lower overnight rates. The move only adds to the total government and the BoE intervention of $3 trillion. However, the interbank lending rates are falling but only gradually.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
Stocks in Mumbai fell on the weakness in global markets. Mutual funds in India suffered 77 billion rupees withdrawals in the month. The sharp decline in Sensex and weakness in global markets also forced companies to tap 300 billion rupees. Foreign investor outflow stands at $11 billion in the year.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
CSX, the railroad company reported third quarter revenue increased 18% to $3 billion, record quarterly revenue. The company continues to pass on higher fuel costs to customers and raise prices. Earnings per share from continuing operations increase 40% to 94 cents. Operating ratio rose to 75%.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
AMB fell 10% after third quarter revenues fell 2% and net income fell 61%. eBay dropped 9% after it offered weak revenue guidance. Credit Suisse rose 6% after it announced a plan to raise $10 billion, UBS gained on Swiss government offering $60 billion bailout. Citigroup net loss rises.
- 123jump.com Staff
- 16 Oct, 2008
- New York City
The Swiss government offered a bailout package to UBS after it failed to raise capital from private investors. Credit Suisse plans to raise nearly $10 billion from Qatar and other investors. UBS will transfer up to $49 billion of risky loans including $31 billion loans linked to U.S. mortgages.