- 123jump.com Staff
- 07 Mar, 2007
- New York City
Volatility in New York trading remained at elevated level. Weekly oil report showed a sharp fall in crude oil inventory but still above five-year average, sparking a rally in oil. Fed Survey showed that economic expansion is healthy in the most regions of the country, but few regions are experiencing a slow down. Energy stocks rallied but telecom stocks fell. Saks same store rose in February. Friendly Ice Cream said that it will consider selling the company. D R Horton fell on cautious outlook.
- 123jump.com Staff
- 07 Mar, 2007
- New York City
Market averages traded in a choppy manner on weak economic data, cautionary outlook in the housing market and falling crude oil inventories. A report from Federal Open Market Committee noted that the economic growth is likely to remain weak for the year and moderating inflationary pressures over a period of time. Cautious outlook from homebuilder D R Horton for the current year lowered the sector. Weekly supplies of crude oil report showed a decline in crude oil inventory.
- Elena
- 07 Mar, 2007
- New York City
European stocks finished modestly higher on Wednesday, supported by gains in the shares of truck maker Scania on merger-and-acquisition speculation. Stocks traded mostly flat on cautiousness ahead of key interest-rate decisions tomorrow. Scania climbed 3.7% after Volkswagen lifted its stake in the Swedish truck maker, thus putting pressure on Scania to merge with Germany''s Man AG. The German DAX 30 added 0.3%, the French CAC 40 rose 0.3%, and the U.K. FTSE 100 also gained 0.3%.
- Elena
- 07 Mar, 2007
- New York City
U.S. stock markets traded in a tight range Wednesday. The Dow erased earlier gains to join the Nasdaq and S&P 500 in the negative territory. The blue-chip average decline followed a notable increase by the oil price. Crude oil rose 91 cents to $61.60 after weekly inventory data showed an unexpected drop in oil supplies last week. Shares of major energy companies advanced, including Exxon Mobil, up nearly 1%.
- Elena
- 07 Mar, 2007
- New York City
U.S. stock markets opened little changed Wednesday, looking for direction after heavy recent losses and the partial recovery in the previous session''s rally. The Dow was weighed by AT&T and American Express, each falling over 1%. Clothing retailer American Eagle Outfitters fell 3.7% after the company''s Q4 report failed to impress investors. CV Therapeutics fell 26% after the drug maker said its only approved drug failed to show adequate improvement over a placebo at treating heart disease.
- Ivaylo
- 07 Mar, 2007
- New York City
London equities were firmer on Wednesday in spite of the benchmark index dipping 29 points from leading financial stocks that began trading without rights to the latest dividend payments. Sentiment was given a boost from strengthening US markets and property companies were higher as JP Morgan named British Land and Great Portland Estates as two of its top picks in the European sector. The FTSE 100 was off 14 points at 6,125.8 having been more than 30 points lower earlier in the session.
- Elena
- 07 Mar, 2007
- New York City
Following a sharp rebound in the previous session, U.S. stock futures pointed to the downside on Wednesday, reflecting a mixed performance in overseas markets and renewed strength in the Japanese currency against the dollar. In economic news, U.S. private sector employment added 57,000 in February, marking the weakest growth since July 2003. Investors also awaited news on the economy''s health with the Fed''s Beige Book release.
- Ivaylo
- 07 Mar, 2007
- New York City
Asian markets closed mostly higher Wednesday as shares continued to recover from last week''s losses, but Japan finished slightly lower as exporters lost ground in volatile trading. Hong Kong shares also ended lower as cautious investors took the chance to take profit. Shanghai benchmark index and South Korean Kospi advanced, as well as Taiwan and Malaysia.
- Elena
- 07 Mar, 2007
- New York City
Google was upgraded to buy from neutral at UBS, citing valuation. According to analysts the company
- Ivaylo
- 07 Mar, 2007
- New York City
The Sensex opened with a positive bias but profit taking at higher levels together with heavy selling in cement stocks made the index slip into the negative zone. The market regained some territory in late afternoon trade on buying interest at lower levels but still ended with a loss. Gujarat Ambuja and ACC led the decline, while Cipla and Reliance Comms rallied. Singapore Exchange to buy a stake in BSE.
- Ivaylo
- 07 Mar, 2007
- New York City
European markets were higher on Wednesday on a strong performance on US markets overnight, and fresh merger and acquisition activity. Carrefour led the retail sector higher, while ABN Amro rose on bid speculation. VW raised its stake in Scania and boosted the auto sector. By mid morning, Frankfurt Xetra Dax added 0.3%, the CAC 40 in Paris climbed 0.3% and the FTSE 100 in London rose 0.2%.
- Ivaylo
- 07 Mar, 2007
- New York City
Gold and silver futures recovered some territory on Tuesday along with stocks as some of the recent liquidation pressure subsided, with light fund buying returning to the metals. Also, now that the Japanese yen is softer against the U.S. dollar, there are reduced concerns about unwinding of the so-called yen carry trades. High-grade copper futures rose with the help of gains in stocks and other commodities.
- 123jump.com Staff
- 06 Mar, 2001
- New York City
U.S. stocks rebounded after solid gains in overseas markets, despite shaky economic data that posed a new threat to the dollar against the yen and raised the specter of inflation once again. The Fed Chairman Bernanke in prepared remarks called for stronger regulation of Fannie Mae and Freddie Mac. Fannie rose 3.2%, and Freddie gained 1.6%. Treasure Secreatry Paulson comments on housing loans supported a rally in Citigroup, Lehman and Bear Stearns.
- 123jump.com Staff
- 06 Mar, 2007
- New York City
U.S. stocks rose, driving all three major stock indexes up more than 1%, as nearly a week of steep declines brought buyers back. Shares of Google Inc. shot up 2.7% and Apple shares rose 1.7%. Citigroup jumped 2.7%. General Motors may have to take a charge of $1 billion for bad mortgage loans. The Fed Chairman said that Fannie Mae and Freddie Mac should sell majority of its asset and focus on lending to promote affordable housing.
- Elena
- 06 Mar, 2007
- New York City
European stocks closed notably higher, ending a five-session losing streak. European gains followed a global markets rebound, with investors buying shares in companies that have been hurt by the recent reduction in risk appetite. Salzgitter shares rose 5.6% after Credit Suisse upgraded its stock. Miner Xstrata rose 3 and building materials firm Vinci climbed 3.5%. The German DAX Xetra 30 closed up 0.9%, the French CAC 40 rose 1% and the U.K. FTSE 100 advanced 1.2%.