- Elena
- 31 Aug, 2006
- New York City
The Department of Commerce reported that orders for manufactured goods fell 0.6% in July following an upwardly revised 1.5% increase in June. Economists had expected orders to fall 0.8%. The drop in factory orders was due to a 2.5% decline in manufactured durable goods in July following a 3.3% increase in June.
- Elena
- 31 Aug, 2006
- Mumbai
The news that the Stock Holding Corporation of India has sent letters to brokers demanding cash instead of shares to substitute in the futures and options segment which had a negative effect on the market effectively pushing it down in the latter part of the trading session. The market-breadth was negative. ITC, HDFC Bank, Reliance Petroleum and Tata Power led the advancers, while Gujarat Ambuja led the decliners. Telecom Regulatory Authority sets 5 rupees per cable for three largest cities.
- Elena
- 31 Aug, 2006
- New York City
Stocks opened higher, boosted by news of higher consumer spending, fewer jobless claims and solid retail sales. Wal-Mart Stores reported same-store sales at its U.S. same-store sales advanced 2.7% in August, exceeding estimate for an increase of 2.5%. Federated Department Stores reported that same-store sales rose 3.8%, missing analyst expectations for it to post a same-store sales gain of 4%.
- Elena
- 31 Aug, 2006
- New York City
Stock futures rose Thursday after data showed a weaker-than-expected rise in a key inflation gauge. The Department of Commerce released a report that showed increases in both personal income and spending in July came in line with economist estimates. Personal income rose 0.5%, while personal spending rose 0.8%. Core consumer inflation rose 0.1% in July, the smallest gain since December and less than the 0.2% gain expected by economists.
- Elena
- 31 Aug, 2006
- New York City
Among the companies releasing upbeat results, Mothers Work Inc. posted a 5% increase in August comparable store sales, while Bebe Stores said same-store sales rose 12.5%, exceeding estimates of 11.4% increase. Limited Brands also topped estimates reporting same-store sales growth of 9%. Pier 1 Imports posted a 9.1% drop in August same-store sales.
- Ivaylo
- 31 Aug, 2006
- New York City
In Japan, stocks got a boost from broad gains in technology and blue-chip stocks like Toshiba and Canon. Hong Kong advanced as gains in U.S. markets and hopes for a pause in interest-rate hikes lifted investor sentiment. In South Korea, shares were led by brokerage stocks which advanced on rising trading volume. China, Taiwan and Australia also gained.
- Ivaylo
- 31 Aug, 2006
- Frankfurt
Oil prices have recovered to settle above the key $70 a barrel line despite far better than expected inventory data out of the US, mainly on the back of uncertainty over supplies as the UN deadline for Iran to suspend nuclear activities has now been reached. The FTSE 100 in London shed 0.1%, the Xetra Dax in Frankfurt edged down 0.1%, and the CAC-40 in Paris sank 0.2%.
- Ivaylo
- 31 Aug, 2006
- Metals
While gold and silver advanced on Wednesday, with regard to copper traders were awaiting news about the ongoing strike at Chilean copper mine Escondida throughout the session. The strike, now into its 24th day, has cut copper concentrate production by 50% at the mine.
- 123jump.com Staff
- 30 Aug, 2006
- New York City
Market averages gained a fraction at close on light trading. Averages meandered for the most of the day. Second quarter GDP was revised to 2.9% from 2.5% for Spring quarter. Inventory led manfacturing helped the GDP growth. Costco lowered earnings target. European markets closed higher but Latin American markets closed mixed. Asian markets were lied by higher by Taiwan and Hong Kong. Oil rose but traded lower. Altria raised dividend 7.5% to 86 cents a share.
- 123jump.com Staff
- 30 Aug, 2006
- Frankfurt
European markets ended in the positive territory, reflecting strength posted by tech shares and quarterly results released by Euronext and Corus. Stock-exchange operator Euronext was up 3.1% on 63% profit jump, while steelmaker Corus Group lost 1.8% after reporting 52% profit drop in Q2. The German DAX 30 gained 0.4%, the French CAC 40, was 0.4%, while London FTSE 100 rose 0.7%.
- Elena
- 30 Aug, 2006
- New York City
Crude oil prices fell 61 cents to $69.10 a barrel after a weekly petroleum report showed an unexpected rise in oil stockpiles. Crude supplies rose 2.4 million barrels to 332.8 million for the week ended Aug. 25, contrary to expectations for a decline. Gasoline inventories rose 400,000 barrels to total 206.2 million barrels.
- Elena
- 30 Aug, 2006
- Mumbai
The Sensex on BSE has gained 317 points, or nearly 3% in the last five sessions. The benchmark index closed almost flat, after a firm start and a volatile and session. The markets managed to surge in the latter part of trading boosted by gains in large-caps. Reliance Industries, State Bank of India, ITC and Ranbaxy led the advancers. Hotel stocks finished also higher, while the aluminium, engineering and steel stocks slipped.
- Elena
- 30 Aug, 2006
- New York City
An upward revision to Q2 GDP boosted market indexes at opening as the Commerce Department measured that gross domestic product rose 2.9%, higher than the original estimate of 2.5% and roughly in-line with economists'' expectations of an increase by 3%. U.S. stocks also gained on comments by Federal Reserve official Richard Fisher which helped sooth inflation concerns.
- Elena
- 30 Aug, 2006
- New York City
The government''s second estimate of GDP was revised upward to 2.9%, near the 3% revision analysts were expecting. The Commerce Department said that the upward revision reflects higher than previously estimated readings on exports of goods, non-residential structures, private inventory investment, and state and local government spending.
- Elena
- 30 Aug, 2006
- New York City
U.S. stock futures were sitting near the flat line Wednesday morning following a profit warning from Costco Wholesale and an advance by the oil price. Costco forecast earnings per share of 68 cents to 71 cents for Q4 and $2.23 to $2.26 for the fiscal year ending Sept 3. Analysts expected it to earn 77 cents for the quarter and $2.33 for the year.