- 123jump.com Staff
- 30 Mar, 2007
- New York City
Market averages closed lower after three hours of trading in New York. Much awaited report on corn planting revealted larger than expected rise in corn planting this season depressing corn and soybean prices. The government expects record corn planting since 1944 driven by etahnol based demand. Construction spending rose 0.3% in February driven government projects. Global Payment fell 11% on lowered earnings. European markets closed mixed with a negative bias but Asian mrkets closed higher.
- 123jump.com Staff
- 30 Mar, 2007
- New York City
Ethanol demand is driving farmers to corn in record numbers across the country. According to the government report farmers are likely to increase by 15% corn planting acres, largest since 1944. Soybean production will suffer and is likely to put more pressure on food prices in the coming months. Corn prices fell 5% and soybean dropped 2% on the release of the report.
- 123jump.com Staff
- 30 Mar, 2001
- New York City
In the morning trading market averages climbed higher led by oil and financial stocks. Commerce Department reported that personal income and spending in February rose 0.6%, higher than estimated by most economists. Oil climbed above $66 per barrel on continued tensions in the Middle East. NYMEX climbed at the opening on broker recommendation.
- 123jump.com Staff
- 30 Mar, 2007
- New York City
February report on personal spending and income suggested that consumer alive and ready to spend. Personal spending and income rose at 0.6% and after adjusting for inflation gained 0.2% only. Inflation took a big bite out of the consumer purchasing power.
- Ivaylo
- 30 Mar, 2007
- New York City
The FTSE 100 gave up gains by the end of morning trade on Friday, pulled lower by weakness in Vodafone and life fund manager Resolution and on worries over mounting tensions between Britain and Iran. M&A activity managed to stem even steeper losses. Home improvements retailer Kingfisher led the market gainers. The FTSE extended its early losses to move 26.4 points, or 0.4% to 6,298.1
- Ivaylo
- 30 Mar, 2007
- New York City
Asian markets ended mostly higher Friday with Japan Nikkei leading the advance on an upbeat note on inflation data, while Hong Kong declined as investors await fresh earnings news. The Australian market surged to its highest level in four weeks on end-of-quarter buying together with bullish offshore leads, bid speculation on media stocks and a takeover bid for Alinta.
- Ivaylo
- 30 Mar, 2007
- New York City
The Sensex opened with a positive bias Friday, but trading was subdued in the morning session. The benchmark index surged in the latter part of trade as the crucial weekly inflation data turned out better than expected. Building up positions ahead of the fourth-quarter earnings results also aided the rally. NTPC and Dr Reddy
- Ivaylo
- 30 Mar, 2007
- New York City
European markets declined on Friday, as banks and telecom stocks weighed on sentiment, while concerns over escalating tensions between Britain and Iran raised oil prices. The banking sector was mainly down as investors took profits after recent gains. Financials in Germany were higher, though, on bid speculation. By mid morning, Frankfurt Xetra Dax was fractionally lower, the CAC 40 in Paris fell 0.2% and London FTSE 100 shed 0.3%.
- Ivaylo
- 30 Mar, 2007
- New York City
Gold and silver futures closed lower Thursday, undermined by long liquidation by funds as the end of the quarter approaches. Higher crude oil prices helped the metals to bounce from their late-morning lows. While precious metals declined, a combination of technical strength, favorable U.S. economic data and stronger crude oil futures helped copper post a gain. Copper closed above its 200-day moving average.
- 123jump.com Staff
- 29 Mar, 2007
- New York City
On the revised estimate of GDP, market rallied in New York at the opening and boosted averages in Europe. Commerce Department said fourth-quarter gross domestic product rose at a 2.5% annual rate, revised up from an estimate made a month ago of 2.2%. U.S. Steel has agreed to acquire Lone Star Technologies offering 39% premium and U.S. Steel climbed 3%. Tech stocks failed to participate in the rally. Cisco Systems declined 1.8% and Qualcomm was down 1.3%. Dell discovers accounting errors.
- 123jump.com Staff
- 29 Mar, 2007
- New York City
Market averages in the late afternoon trading turned negative after opening with near 0.5% rise. Morning rally failed to broaden beyond large cap stocks and tech stocks tunred negative early on. Canadain telecom oeprator was reported to be in talks to take the company private at a value as high as $26 billion. Insituform declined 22% on lowered earnings outlook. Brazilian airiline Gol agreed to buy troubled carrier Varig. Delta reports profit. CarMax reports profit rise below estimates.
- 123jump.com Staff
- 29 Mar, 2007
- New York City
Seven of the nine majors stock markets in Europe advanced more than 1% at close led by airlines, miners and banks. Market opened higher and registered solid gains on revised GDP grwoth rate for the U.S. Mining stocks rose on expectations that metal prices will improve in coming months. Airlines rose price cutting news from Air France and Iberia hiring bankers to advise on merger related issues. In Geramny SAP fell 1% but KarstadtQuelle gained more than 2% on first annual profit since 2003.
- 123jump.com Staff
- 29 Mar, 2007
- New York City
Market averages contunied to decline after three hours of trading as rally in industrial stocks failed to broaden and tech stocks turned negative. GDP report showed that the economy grew at 2.5%, better than previously estimated and initial claims of unemployment fell by 10,000 at the end of last week. Oil continued its climb to near six-month high and natural gas invenotry fell. Major European markets closed up 1%.
- 123jump.com Staff
- 29 Mar, 2007
- New York City
CarMax, larget auto dealer, reported fourth quarter profit of 19 cents compared to 15 cents a year ago. net marging in the quarter declined to 2.2% from 2.3% on revenue rise of 16%. The stock declined 5% in the early trading on lower than expected earnings. The company also guided for the fiscal year 2008 wide earnings range bewteen $1.03 and $1.14 per share.
- 123jump.com Staff
- 29 Mar, 2007
- New York City
Market averages in New York trading rebounded in the early morning trading on revised GDP grwoth rate for the fourth quarter of 2006. European markets also traded higher across the region. U.S. Steel agreed to buy Lone Star Technologies for $2.1 billion, a premium of 39% from close of yesterday. Tenaris, largest seamless tube maker purchased Maverick Tubes in October for $2.8 billion. U.S. Steel with this acquisition will be the largest oil tube maker int the North America.