- 123jump.com Staff
- 16 Oct, 2008
- New York City
U.S. stocks edge lower. Merrill Lynch reported its fifth quarterly loss. Peabody surged on earnings and eBay estimated lower fourth quarter revenue. Switzerland offered $60 billion bailout package to UBS to bolster its balance sheet. Credit Suisse plans to raise $10 billion.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
Reserve Bank of India lowered the bank cash reserve requirements for the second time in less than a week to keep confidence in credit markets. The move may be inflationary, but will lower the overnight interbank lending rate below 10%. Sensex index plunged 6%.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
China foreign exchage reserves rose to $1.9 trillion, the largest of any nation. Trade surplus contributes $27 billion a month and depositors looking for stable currency convert foreign currency into yuan denominated deposits. Benchmark index in Shanghai dropped 4% and in Hong Kong fell 5%.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
Stocks in Japan rose after South Korean steel maker Posco offered weak outlook for the current quarter. Weakness in the ocean freight index also dragged shipping lines lower. Financials and realty stocks fell on the worries that the U.S. recession will be longer and deeper than anticipated.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
Stocks in Australia fell after South Korean steel giant Posco offered cautious outlook for the current quarter. Rio Tinto, the mining company also hinted weaker deamnd from China and Europe. Australia considers additional economic stimulus of A$10.4 billion.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
Investors are increasingly betting that Secretary Paulson led bailout plan is not going to prevent the U.S. from slipping into a recession. September retail sales decline drove market averages to plunge more than 8%. Of the S&P 500 index, 9 dived more than 20%, 224 declined 10% or more and 495 fell.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
CSX Corp third quarter revenues rose 18% to $2.96 billion and net income fell 6% to $382 million or 94 cents a share. Dominos Pizza Inc third quarter revenue fell 4% to $323.6 million and net income dropped 8% to $10 million or 17 cents a share. Intel net income rose 11%.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
UK stocks plunged after the markets in Europe fell more than 5%. Weak metals and commodities prices, a decline of 5% in crude oil futures and a rise in unemployment dragged the benchmark index down 7.2%. The copper miner, Antofagasta and BHP Billiton plunged 15%.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
Coca-Cola Company edged higher after reporting better than expected earnings a day after PepsiCo said earnings fell 9%. State Street fell after it reported 33% increase in earnings but also unrealized losses in the investments soared 65% to $3.3 billion.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
Weak September month retail sales dragged market averages and the retail sector stocks lower. Mining and metals and energy complex stocks dropped after the crude oil, gasoline and natural gas prices fell to a low for the year. Of the stocks in S&P 500 index, 470 declined and 28 gained.
- 123jump.com Staff
- 15 Oct, 2008
- New York City
September retail sales declined from August and from the previous year as consumers pull back. Auto, furniture, restaurant and apparel retail sales were down more than expected in the month. Sales at convenience stores and healthcare outlets were up. Crude oil dropped to $75 a barrel.
- 123jump.com Staff
- 14 Oct, 2008
- New York City
Stocks in Mumbai, India rose more than 8.5% in two-day gains. The European government offered $1.6 trillion to support banking system and the U.S. offered $250 billion in nine largest financial institutions. The RBI injected 20,000 crore rupees to help mutual funds to face redemptions.
- 123jump.com Staff
- 14 Oct, 2008
- New York City
Stocks in Hong Kong rose for the second day after the U.S. prepared to inject $250 billion in nine largest banks. The capital injection lifted the sentiment in the region and in Shanghai and Hong Kong. property and financial stocks led the gainers.
- 123jump.com Staff
- 14 Oct, 2008
- New York City
Australia unveiled A$10.4 billion stimulus package. The latest move comes after the government guarantee to insurance all bank deposits and lower interest rate by 1%. The fiscal and monetary measures are expected to sustain domestic economy in the face of weak global market conditions.
- 123jump.com Staff
- 14 Oct, 2008
- New York City
Japan stocks soared in the largest one-day gain in nearly 40 years after dropping to a 16-year low. European government took agressive steps to support banking system. Germany, Spain, France and Holland agreed to commit $1.6 trillion. UK will spend $65 billion to take direct stakes in banks.