- Elena
- 14 Sep, 2007
- New York City
U.S. stock futures reversed from gains, pointing to a weaker opening Friday, dragged down by renewed concerns about the U.S. financial markets amid news of a foreign lender''s difficulties. Retail sales figures and a broker downgrade of Intel exerted additional pressure. The Commerce Department said that August retail sales rose 0.3%, but all the gains were for cars and trucks. Excluding motor vehicles, sales fell 0.4%, which was lower than expected.
- 123jump.com Staff
- 14 Sep, 2007
- New York City
Stocks in Tokyo surged 1.9% on Friday and for the week were nearly unchaged. Broader index Topix declined 0.8% for the week and gained 1.4% in trading today. Banks, energy tradig companies, and real estate stocks led the advance. Toyota is planning to build its first domestic factory in Japan in 17 years with an investment of 100 billion yen. Sumitomo Metals Mining surged 7% after lifting its second half earnings by 46%.
- 123jump.com Staff
- 13 Sep, 2007
- New York City
Nervous market managed to close sharply higher led by stocks in energy, brokerage, and financial sectors. Countrywide Financial reported $12 billion of financing and the latest Fed data suggested that commercial paper market may be stabilizing after seven weeks of turmoil. Oil closed above $80 a barrel. European stocks closed higher. Brazil led markets in South America. In Asian trading Australia closed higher on higher oil and natural gas price. Hong Kong and Shanghai closed sharply higher.
- 123jump.com Staff
- 13 Sep, 2007
- New York City
Stocks in London closed higher onrecord oil price and firm metals prices in international markets. FTSE 100 index added 0.9% to close at 6,363.90 lifted by mining and energy stocks. Of the index stocks, 69 closed higher and 39 dropped. The Bank of England lent 4.4 billion pounds to banks to stem the liquidity crunch in the credit market. UK housing market survey reported first decline in home prices since 2005. The prices are likely to drop further.
- Elena
- 13 Sep, 2007
- New York City
European stock markets finished in the positive Thursday for a third consecutive session, boosted by upbeat U.S. jobs data, as well as strength among automotive, mining and telecoms shares. Alcatel-Lucent limited the upward move after the mobile phone maker lowered its full-year revenue outlook. Among regional markets, France led advancers with a gain of 1.1%, followed by the U.K., up 0.9% and Germany, rising 0.8%.
- 123jump.com Staff
- 13 Sep, 2007
- New York City
Record crude oil price in international trading lifted Australian stocks. ASX 200 closed 0.2% higher to close at 6,230.60. Woodside Petroleum jumped 1.7% and led the rise in energy stocks. Building products maker CSR fell 7% after it sold A$150 million of stocks to fund its acquisition of Don Mathieson for A$175 million. New Zealand Central Bank kept interest rate at 8.25% and warned that lowering rates may fuel inflation.
- Elena
- 13 Sep, 2007
- New York City
U.S. market averages rallied, with the Dow Industrial posting triple-digit gains. The blue chips were led higher by more than 6% increase in the shares of both General Motors and McDonald''s. The car maker advanced on a broker upgrade and progress in talks between automakers and workers over health care costs. Macdonald''s shares rose after the fast-food retailer lifted its dividend by 50%.
- 123jump.com Staff
- 13 Sep, 2007
- New York City
Sensex in Mumbai, India trading eged higher on steady capital spending and production expansion news from local companies. Suzlon, wind turbine maker, plans to double its production capacity in 3 years. Steel Authority of India is targeting to raise its production to 26 million tons in 2010, twice its current production level. Jindal is in the middle of multi billion dollar investment in iron onre mining and steel project in Bolivia. Reliance and government agree on natural gas price.
- Elena
- 13 Sep, 2007
- New York City
Wall Street rallied at opening Thursday, with Dow Jones surging 100 points on lower-than-expected increase in weekly jobless claims and upbeat corporate news from McDonald''s and General Motors. The fast-food retailer rose 4.6% after it lifted its dividend to shareholders by 50%, while the car maker jumped 6% after Citigroup raised its rating on the stock. Reportedly, the UAW may agree to establish a union-controlled trust fund for employee health care costs.
- Elena
- 13 Sep, 2007
- New York City
U.S. stock futures were pointing to recovery Thursday on better-than-anticipated jobs data. The Labor Department said that initial jobless claims rose by 4,000 last week to 319,000, less than the 325,000 claims analysts expected. The report also stated low unemployment rate of 4.6%. Among pre-market highlights, McDonald''s rose 2% after it said it would increase its dividend by 50%. Microsoft gained 0.7% after it raised its quarterly dividend by a penny to 11 cents a share.
- 123jump.com Staff
- 13 Sep, 2007
- New York City
Stocks in Tokyo fell on rising oil and worries that Japanese economy may slowdown. Nikkei 225 index edged up 0.2% but broader index Topix fell 0.4%. Pharmaceuticals jumped after the local newspapers suggested that companies are likely to spend 300 billion yen to buyback stocks. Trading company Mitsui and oil company Inpex jumped more than 3%. Five-year Japanese government note declined on lower demand.
- 123jump.com Staff
- 12 Sep, 2007
- New York City
Oil traded at record intrady prices and managed to put traders on alert. The record high oil and persistent weakness in dollar dragged stocks lower. The debate on rate cut focused on viability of two successive 50 basis points cuts. Oil complex stocks in the U.S. and Europe jumped. Weekly petroleum inventory report in the U.S. showed 7.1 million barrel fall in inventory. The surprise decline sparked rally in oil. Dollar fell for the sixth day in a row against euro.
- Elena
- 12 Sep, 2007
- New York City
European stock markets were volatile during Thursday trading session, but closed higher, led by phone and oil companies. Telecommunications companies, such as Telefonica, gained on positive comments from JP Morgan Chase & Co about the earnings outlook for the industry. Energy stocks posted considerable strength, as oil prices climbed to a record high. Across the region, France advanced 0.5%, followed by the U.K., up 0.4% and Germany, rising 0.2%.
- 123jump.com Staff
- 12 Sep, 2007
- New York City
UK stocks edged higher by 0.4% extending the gains of 2.4% from the previous session. The Bank of England governon said that lowering rates will only encourage reckless risk taking in the credit markets. He refused to lower rates. The Bank will provide added liquidity as a lender of last resort. Libor rate in pound is now at nine-year high. Overnight rate for interbank lending hovered near 5.9%. In other economic news unemployment declined and average income rose in July.
- Elena
- 12 Sep, 2007
- New York City
U.S. market averages recovered from earlier weakness although crude oil inventories dropped more than expected and the U.S. dollar hit a record low against the euro. Stocks were also given a boost by continuous optimism that the Fed will cut interest rates at its next monetary policy meeting on Sept. 18th. The price of oil surged after the petroleum report, reaching a record intraday high of $79.29 a barrel. Airline stocks moved sharply lower, while natural gas stocks posted solid advance.