- Elena
- 07 Sep, 2007
- New York City
European stock markets finished deeply in the red Friday, tracking U.S. losses amid concerns about the health of the economy, raised by weaker-than-expected U.S. jobs data. Employment in August fell for the first time in four years, well below expectations of a notable increase. Banks, auto makers and miners led the decline. Across regional markets, France posted the steepest drop of 2.6%, followed by Germany, down 2.4% and the U.K. losing 1.9%.
- Elena
- 07 Sep, 2007
- New York City
U.S. stocks tumbled while bonds surged higher following a deeply disappointing government report which showed payrolls in August fell unexpectedly for the first time in four years. The Dow Jones slipped more than 200 points. The data raised optimism that the Fed will cut interest rates by 0.25% at the central bank meeting on Sept 18. By the end of 2007, the fed funds rate is expected to drop to 4.25%. In another report, the Commerce Department said U.S. wholesale inventories rose 0.2% in July.
- 123jump.com Staff
- 07 Sep, 2007
- New York City
Stocks in Mumbai, India trading closed lower for the day but added 1.8% in the week. Robust economic activities have propeled several stocks to a new highs. Reliance and governement if India continue their difficult negotiations for natiral gas price sale. The fertilizer minister said that proposed price by Reliance is highe than government is willing to pay. DLF is planning to spin-off its DT Cinema unit. Tata Power is reported to take 15% stake power trading exchange.
- Elena
- 07 Sep, 2007
- New York City
Wall Street opened sharply down Friday, reflecting a heavy sell-off after the government reported employment in August fell for the first time in four years rather than rising as economists had been expecting. The Labor Department said U.S. nonfarm payrolls fell an estimated 4,000 in August, while the unemployment rate held steady at 4.6%. Following the jobs report the dollar fell sharply, while bonds surged. The three major averages dropped more than 1%.
- 123jump.com Staff
- 07 Sep, 2007
- New York City
Asian stocks closed mixed in the session. Central Banks in Japan and China drained liquidity from the markets. China offered 3-year bonds at 3.71% worth Rmb151 billion. Japan drained $1.7 billion from the system. Russia signed a multi-year agreement with Australia to purchase uranium. Earlier China signed a similar deal with Australia to purchase natural gas. Tokyo stocks fell nearly 3% for the week but stocks in India rebounded. Shanghai led the declining markets in the region.
- Elena
- 07 Sep, 2007
- New York City
U.S. stock futures moved steeply lower Friday, pressured by weak employment report and comments from ex Fed Reserve Chairman Alan Greenspan who said the current market situation is similar to the stock-market crash of 1987. The Labor Department said that employment in August declined for the first time since August 2003. Nonfarm payrolls contracted by 4,000 in August. The decline was much weaker than the 115,000 increase expected by economists. The unemployment rate held steady at 4.6%.
- Elena
- 07 Sep, 2007
- New York City
The homebuilder posted wider-than-expected loss of $77.9 million, or $1.27 a share compared with a profit of $77 million, or $1.15 a share a year earlier. Company
- 123jump.com Staff
- 07 Sep, 2007
- New York City
Stocks in Tokyo declined 0.83% for the day and fell 2.7% for the week. The financial markets turmoil continues led by volatility in the U.S. markets. Leading indicator index in Japan showed that the economy is likely to expand in the next 3 to 6 months. Oil and metal stocks gained but financial and real estate stocks fell. Mitsubishi Nicos jumped 4.5% on the hopes that the parent bank will offer a premium to minority shareholders.
- 123jump.com Staff
- 06 Sep, 2007
- New York City
Same store sales overshadowed the trading sentiment in New York. Market averages gained as investors surmised that retail spending is likely to remain at elevated level despite higher energy cost and worsening lending crisis. Consumers kept shopping in August lifting the sales by 2.9%. However, record number of U.S. homes in foreclosure. Gold crossed $700, oil above $76. The rising metal prices and weak dollar helped European stocks. India, Korea, and Taiwan led Asian markets with a gain of 1%
- Elena
- 06 Sep, 2007
- New York City
European stock markets finished in the positive territory Thursday, helped by strength among mining companies on the back of rallying metals prices, deal speculation and a decision made by the ECB and the BoE to keep interest rates unchanged. Upbeat U.S. data also generated positive sentiment, helping to ease fears of a greater-than-expected slowdown in the U.S. economy. Across the region, the U.K. led advancers with a gain of 0.7%, followed by France, up 0.5% and Germany, rising 0.4%.
- Elena
- 06 Sep, 2007
- New York City
U.S. stock averages turned to a lackluster trading fashion, as ongoing credit market and housing worries offset upbeat sentiment generated by largely positive economic data and retail sales in August. The Mortgage Bankers Association said in a report Thursday that the share of all U.S. mortgages entering foreclosure hit an all-time high of 0.65% in Q2, rising from 0.58% in Q1, The number of subprime borrowers making late payments rose 14.82% from 13.77%.
- Elena
- 06 Sep, 2007
- New York City
The Campbell Soup said its Q4 earnings jumped 39% to $61 million, or 16 cents a share, up from $44 million, or 11 cents per share a year ago. Its revenue rose to $1.59 billion from $1.45 billion. However, its profit from continuing operations fell 37% in the latest quarter. The stock dropped 3%. UTI Worldwide added 2.5% after it reported a 20% drop in Q2 earnings, citing slower revenue growth.
- Elena
- 06 Sep, 2007
- New York City
U.S. stocks bounced back into the positive territory at opening, boosted by a sharp drop in U.S. jobless claims and a stronger-than-forecast productivity report. Some better-than-expected retail sales reports also provided support. The Labor Department said initial claims for state unemployment benefits fell by 19,000 after five straight weeks of increases. Productivity in the U.S. nonfarm business sector was revised up to an annual rate of 2.6% in Q2 from 1.8% gain repored earlier.
- 123jump.com Staff
- 06 Sep, 2007
- New York City
Sensex in India rebounded 1.1% reflecting general trading sentiment. Stocks in Mumbai closed higher in a broad rally in auto, cement, banks, and financial stocks. of the 30 stocks in the index 27 closed higher and 1,700 increased in value in BSE trading. State Bank of India is planning 1,500 crore bond offering in Mumbai. Auto stocks rallied lifted by general sentiment in the market. Refineries are seeking 15% price increase in diesel, 6% in petrol, and 30% in kerosene.
- Elena
- 06 Sep, 2007
- New York City
U.S. stock futures pointed to a negative opening of Thursday trading session ahead of key economic data expected to show slowing growth in the services sector. Investors looked past a better-than-forecast performance from retailers in August, showing disbelief that the strong spending of the back-to-school season would continue into the coming months. Wal-Mart Stores advanced 2% in pre-market trading after reporting a stronger-than-forecast 3% sales rise for August.