- 123jump.com Staff
- 31 Aug, 2007
- New York City
At least for today New York markets rallied and lifted averages in Europe and South America. Two speeches from the Fed and President Bush shifted the focus from the crdit market crunch to the need for rate cut. Investors remianed optimistic and hoped that rates cut is more likely on Sept 18 meeting. what market fails to accept that how can three mortgage lending binge can be cured by one rate cut. Market is setting itself up for a fall in the coming weeks.
- 123jump.com Staff
- 31 Aug, 2007
- New York City
Stocks in London closed higher for the second day in a row. Investors hoped that the Fed is likley to lower rates for the rest of the year. FTSE 100 index gained 1.5% led by miners and financial companies. Rolls Royce jumped on $400 million order for engines. Thomas Cook warned tough market conditions in the UK and plans to eliminate 3,000 jobs. Higher metal prices led 2% increase in BHP, Antofagasta, and Anglo American. Barclays $1.6 billion of credit to troubled hedge fund Cairn Capital.
- Elena
- 31 Aug, 2007
- New York City
European stock markets closed sharply higher Friday on optimism about global economic growth, with the U.S. Fed Reserve promising to help deal with problems in the mortgage and credit markets. The gains were broad based, led by companies related to the commodities sector, like steelmaker ArcelorMittal, mining giant Rio Tinto and oil producer Royal Dutch Shell. Across the region, Germany climbed 1.6%, followed by the U.K. with an advance of 1.5% and France, rising 1.3%.
- Elena
- 31 Aug, 2007
- New York City
U.S. market averages posted solid gains Friday, as comments from President Bush and Fed Reserve Chairman Ben Bernanke reassured investors that Wall Street would not be left to cope with mortgage and credit market problems on its own. President Bush proposed a change in the Federal Housing Administration mortgage insurance program to let more people get federally insured mortgages. Shares of Accredited Home Lenders surged 40%, Countrywide rose 1%, while Impac Mortgage Holdings climbed 1.8%
- 123jump.com Staff
- 31 Aug, 2007
- New York City
Sensex in India trading rebounded on the second quarter economic growth report. The GDP in the quarter jumped 9.3% lifted by strong growth above 10% in manufacturing and service sectors. Agriculture lagged with a growth of 3.6%. Wholesale price index, a measure of inflation, declined at the end of last week to 3.94%. First read in the last 20 months below 4%. Essar Oil is planning to raise $750 million in the international markets. Wipro has agreed to pay $160 milion for marketrx.
- Elena
- 31 Aug, 2007
- New York City
Wall Street rallied at opening, lifted by news that President Bush will announce a plan to support subprime mortgage borrowers and loosen credit conditions. Market sentiment was further boosted by optimism that Federal Reserve Chairman Ben Bernanke might hint an interest-rate cut in his speech. Accredited Home Lenders soared 36% after Lone Star Funds said it will offer $214 million for the firm, which is 44% less than it first offered for the troubled lender.
- 123jump.com Staff
- 31 Aug, 2007
- New York City
Tokyo stocks rallied on the back of rise in New York trading. Exporters including Sony, Canon, and Fujifilm gained more than 5%. The Nikkei 225 index surged 2.6%, the strongest rebound in the last two weeks of trading. Nikkei 225 for the month fell 3.9% and broader index Topix dropped 5.7%.
- Elena
- 31 Aug, 2007
- New York City
U.S. stock futures pointed to a sharply higher opening Friday, boosted by optimism that Chairman Ben Bernanke will give a clue about interest rate cuts in his speech. Investors were also optimistic because President Bush is expected to announce strategy to aid borrowers struck by the housing market slump to keep their homes. Mortgage lender Countrywide Financial surged 6.3% in the pre-open. Traders also digested data on personal income and spending.
- Elena
- 31 Aug, 2007
- New York City
According to preliminary results released after the closing bell Thursday, Dell
- 123jump.com Staff
- 30 Aug, 2007
- New York City
Volatility is driving away investors around the globe. U.S. market inflicted volatility has driven investors away from trading in the U.S., Japan, Germany, India, and Australia. In New York, investors sought refuge in tech stocks lifting Cisco, Dell, AMD, and Intel. Brokerage stocks fell after Lehman lowered earnings on Goldman, Morgan Stanley, and Merrill Lynch. Freddie Mac earnings plunged 45%. Thornburg Mortgage sells $500 million of convertible stocks. European markets closed higher.
- 123jump.com Staff
- 30 Aug, 2007
- New York City
Stocks in Londod traded higher after the markets in Europe and U.S. rebounded. Diego reported lower earnings for the year but forecasted better times. Central Mining fell 17% after the government of Congo revoked its mining permit. The Bank of England lent 1.6 billion pounds at penalty rate of 6.75% to an unnamed lender. Home lenders in UK approved 115,000 loans in July. Mortgage lenders in the U.K. are tightening approval process and increasing rates.
- Elena
- 30 Aug, 2007
- New York City
European stock markets finished in the positive Thursday, boosted by strength in the tech and energy sectors ahead of Chairman Ben Bernanke
- Elena
- 30 Aug, 2007
- New York City
U.S. market averages erased some of the earlier losses to turn mixed in late morning trading, as slightly weaker-than-expected GDP report raised hopes that the Fed Reserve will reduce interest rates in the near future. Financial stocks posted significant losses on continuous concerns about credit markets, while oil and tech stocks moved to the upside. Among tech stocks, Dell rose 2% ahead of quarterly earnings release after the closing bell.
- Elena
- 30 Aug, 2007
- New York City
Weak quarterly earnings from Freddie Mac and H&R Block built on troubles in mortgage lending. H&R Block fell 2% after it said its Q1 loss widened compared with last-year figures as it struggled with its mortgage lending arm. Mortgage giant Freddie Mac posted Q2 net income drop of 45% mainly due to a higher provision for credit losses. The stock slipped 3.3%.
- Elena
- 30 Aug, 2007
- New York City
Wall Street opened sharply lower, reflecting profit-taking and nervousness ahead of Fed Reserve Chairman Ben Bernanke''s speech Friday. Financial stocks moved top the downside after Lehman Bros cut its profit estimates for 2007 and 2008. Lehman also reduced its earnings estimates for Wall Street''s top investment banks. Following the news, Goldman Sachs fell 1.5%, Morgan Stanley lost 2% and Merrill Lynch dropped 1.4%.