- 123jump.com Staff
- 28 Mar, 2007
- New York City
U.S. market averages headed lower after making two attempts to cut its looses in the morning trading. The Fed Chairman Bernanke testimony cautioned that housing market will remain drag for the U.S. economy and core inflation remains uncomfortably high. the hawkish comments put invenstors on the edge. Circuit City plans to eliminate 3,400 sales staff and hired broker to sell Canadian unit. European markets closed lower across the region on higher oil price.
- 123jump.com Staff
- 28 Mar, 2007
- New York City
European markets closed lower on higher oil price. Decline of 1% in Swiss index led the region. Germany, France and the Netherlands closed 0.6% lower. UK closed lower on fall in mining and banking stocks. ABN Amro fell on the statement that it will explore all options if talks with Barclays fell. Barclays rose. ArcelorMittal chairman said that the company likely to expand from steel to other metals.
- 123jump.com Staff
- 28 Mar, 2007
- New York City
The Fed Chairman in his prepared remarks in front of the Joint Economic Committee of Congress said that the core inflation remains uncomfortably high and economy is likely to grow at a moderate pace. He also said that the Fed remains concerned that the core inflation may fail to moderate in the coming months as expected. Market averages traded lower on weaker than expected rebound in durable goods orders.
- 123jump.com Staff
- 28 Mar, 2007
- New York City
U.S. stocks came traded lower on the back of rising oil price, weakening housing market and lower than expected rebound in durable goods orders. After one hour of trading Dow, S&P 500 and Nasdaq were trading close to one percent lower. Beazer Homes fell nearly 10% on the widening probe related to mortgage practices. Circuit City plans to lay-off 3,500 people. The Fed chairman Bernanke said that the economy is likely to grwo at moderate pace and risky mortgage problem is well contained.
- Ivaylo
- 28 Mar, 2007
- New York City
Asian markets ended sharply lower on Wednesday, swinging from what had been moderate strength with regional markets earlier in the session, as exporters declined on renewed worries over the growth outlook for the U.S. economy. Companies that sell to the U.S. after consumer confidence and home prices declined in the region largest export market. Inpex Holdings Inc. and Cnooc Ltd. led energy producers higher after the oil price rose to a six-month high.
- Ivaylo
- 28 Mar, 2007
- New York City
The market opened with a negative bias and was weak in volatile trading throughout the day. The unwinding of derivatives and weak global markets weighed on sentiment. Technology stocks bore the brunt of the decline. TCS and Wipro led the decliners, while Ranbaxy and Reliance Energy were among the few advancers. Satyam Computer Services has signed a five-year contract worth 200 million dollar with US-based Applied Material. Deutsche Bank will invest in emerging markets such as India.
- Ivaylo
- 28 Mar, 2007
- New York City
European markets declined on Wednesday, as downside pressure was felt in most sectors, although oil stocks provided some support as oil prices hit six-month highs. BHP Billiton and SAP AG led declines by mining and technology companies. In early trade, Frankfurt Xetra Dax climbed 0.4%, the CAC 40 in Paris added 0.4% and London FTSE 100 slipped 0.1%.
- Ivaylo
- 28 Mar, 2007
- New York City
Copper futures lost some steam and declined Tuesday as investors took profits following a recent run-up in prices. Most precious metals also lost ground ahead of a Congressional appearance Wednesday by Federal Reserve Chairman Ben Bernanke. In energy trading on the Nymex, crude oil futures pared early losses and ended in positive territory Tuesday.
- Ivaylo
- 28 Mar, 2007
- New York City
Tensions between Iran and the west boosted commodities, fueling oil stocks rise in London. The strength in the oil sector lifted the FTSE but the benchmark index struggled to gain positive momentum by the end of morning trade, as a number of stocks were moving ex-dividend and sentiment was jittery about the escalating crisis with Iran. The FTSE 100 gained 2.1 points to 6.294.8
- 123jump.com Staff
- 28 Mar, 2007
- New York City
Market averages are expected to open lower this morning in New York trading. February durable gooods orders rose 2.5%, after falling 9.3% in January. Traders were expecting a larger rebound. Oil in London traded as high as $68 per barrel on rumors that Iran had fired a missile at a U.S. military ship. Oil backed-off but is still up $1.10. In pre-market trading Bezaer Homes fell. Accenture rose on second quarter earnings of 47 cents per share.
- 123jump.com Staff
- 27 Mar, 2007
- New York City
New York opened lower and traded down. Drop in March consumer confidence and weak reading on housing index dragged popular averages lower. Lennar reported 73% drop in earnings but GameStop earnings rose 60%. Oil rose 2 cents and gold declined $1.40. Chicos rose for the thrd day in a row and Urban Outfitter gained on better than expected forecast. Germany led European markets.
- 123jump.com Staff
- 27 Mar, 2007
- New York City
Market averages traded near the lowest level in the last hour of trading. Weak consumer confidence and a decline in housing index dragged broader averages lower. Housing stocks corrected on lower than expected earnings at Lennar. GameStop reported earnings of 81 cents up from 55 cnets a year ago. Aruba Networks launched its IPO at $11 per share.
- 123jump.com Staff
- 27 Mar, 2007
- New York City
Market averages in Europe in the morning trading but closed mixed at close. German stocks led the rise across the region. DaimlerChrylser and Porsche rose. Adidas rose on takeover rumors. Euronext closed 2.7% higher as 91% of shareholders approved merger with the NYSE Group. Spain and Belgium rose but Switzeland and Norway.
- 123jump.com Staff
- 27 Mar, 2007
- New York City
Market averages in NY trading at mid-day trading fell on the worries related to slowdown in economic growth and housing sector profits. The consumer confidence index fell in March as well. Stocks in housing sector came under renewed pressures on lower than expected profit from Lennar. The company reported 73% fall in profit on revenue decline of 14%.
- Ivaylo
- 27 Mar, 2007
- New York City
London has retreated after a bright start, with talk of a bid for retailer Next and the miners rising again just managing to keep the index above water. The Next gossip suggests a bid worth