- 123jump.com Staff
- 05 Oct, 2006
- New York City
Oil rose 1%, gold gained $8 and retails sales stores reflcted changing consumer behavior. Market averages rose in the last hour of trading as traders rushed to buy retailers. Caterpillar advanced on upgrade and Marriott gained on earnings. Constellation Brands fell 8% on reporting earnings in line with estimates. Guitar Center fell 12% on lowered earnings and revenue outlook for Q3 and Q4. Starbucks raised store target to 40,000 from 30,000 and to open stores in India, Russia and Brazil.
- Elena
- 05 Oct, 2006
- New York City
European markets closed at a five-year high Thursday, boosted by takeover speculation, rebound in commodities prices, and interest-rate increases in line with expectations. London FTSE 100 closed up 0.6%, with Corus Group rising 16% amid hopes that it will enter into a deal with India''s Tata Steel. The German DAX 30 rose 0.5%, while the French CAC 40 advanced 0.6%.
- Elena
- 05 Oct, 2006
- New York City
Following two consecutive sessions of gains, with the Dow Jones hitting a record high, the U.S. stock markets turned in a lackluster performance in morning trading Thursday. Investors turned to profit taking, awaiting employment data in the month of September, due out Friday. A rebound in oil and metals prices boosted energy and commodities stocks. Meanwhile, retail shares declined, despite generally strong September same-store sales.
- Elena
- 05 Oct, 2006
- New York City
The Sensex opened with a sharp upward gap to hold onto gains throughout the day. The advance was broad-based with small-cap and mid-cap stocks also taking part in the rally. The market-breadth was at its best, as all sector finished higher except for engineering, power and telecom stocks. HDFC Bank led the advancers. The rupee gained as the U.S. dollar plunged against other major currencies. Tata Steel bids for Corus for $10.5 billion.
- Elena
- 05 Oct, 2006
- New York City
Stock markets opened lower as a rebound in oil prices inspired investors to do some profit taking, offsetting better-than-expected retail sales in September and lower unemployment claims last week. Bebe Stores, Children''s Place, and American Eagle Outfitters were among the teen retailers posting notably higher sales. Of discount retailers, Target sales exceeded expectations of a 5% growth, posting 6.7% rise. Costco Wholesale posted a 4% same-store sales rise, below estimates.
- Ivaylo
- 05 Oct, 2006
- New York City
Though small, Tata Steel is considering an offer as it has the financial muscle, being a unit of one of the largest conglomerates in India. With other steel groups such as Severstal also likely to enter the running, Corus shares led the advancers in London. The FTSE 100 was up 31.2 points at 5,997,7 at mid-day after breaching the 6,000 level early on, helped as well by the Bank of England decision to leave interest rates unchanged at 4.75% today.
- Elena
- 05 Oct, 2006
- New York City
Stock market futures indicated a flat market opening, a day after the Dow Jones Industrials hit a record high. Strong retail September sales helped offset a rebound in crude-oil futures amid OPEC''s decision to reduce production. Wal-Mart said September sales rose at 1.3%, while total sales increased 12% to $31.21 billion. Target posted same-store sales increase of 6.7%, exceeding estimates of 5% growth.
- Ivaylo
- 05 Oct, 2006
- New York City
The Nikkei Average in Japan finished sharply higher Thursday, leading a region-wide rise, as investors bought blue chips such as Toyota Motor Corp. and Canon Inc. after another record close for the U.S. markets. Interest-rate-sensitive stocks were also active, led by Hong Kong-listed HSBC Holdings. All the regional markets finished higher but for New Zealand, which ended flat.
- Ivaylo
- 05 Oct, 2006
- New York City
European stocks advanced in morning trade on Thursday, supported by deal speculation pushing shares of steelmaker Corus higher, a turnaround for oil and metals producers, and the second straight record high for the U.S. markets. Oil stocks gained ground from an overnight rally in crude prices. London FTSE 100 climbed 0.6%, Frankfurt Xetra Dax gained 0.6% and the CAC 40 in Paris added 0.6%.
- Ivaylo
- 05 Oct, 2006
- New York City
The futures had a softer tone early in the day, due to long liquidation, even when crude oil was trying to avoid more losses. Crude resumed its retreat, and sell stops were hit in gold as it broke that support level. Gold then remained under pressure for the rest of the day, even though November crude oil eventually turned positive.
- 123jump.com Staff
- 04 Oct, 2006
- New York City
Bernanke comments inspired rally was in full swing in the final hour of trading. Chairman commented that housing market is undergoing a substantial crrection and it may lower GDP growth by one percentage this year. California Attorney General office is preparing to file criminal charges against former HP chairman Dunn and ohers. P F Changs rose 9% on earnings.
- Elena
- 04 Oct, 2006
- New York City
European markets closed notably higher. The upward move was brought by a strong rally in Vodafone shares and higher banking stocks which together with seven-month low crude oil prices counteracted a profit warning and losses for EADS. London FTSE 100 climbed 0.5%, the German DAX 30 rose 0.9%, and the French CAC 40 advanced 0.7%.
- Elena
- 04 Oct, 2006
- New York City
The Dow hit an all-time intraday high, as stocks recovered Wednesday after a weaker-than-expected data on business activity helped ease concerns about inflation and interest-rate hikes. The ISM''s services sector index slipped to a weaker-than-expected 52.9 in September from 57.0 in August.
- Elena
- 04 Oct, 2006
- New York City
Weak Asian stocks, together with worries over possible sales by hedge funds pushed the market lower today. All sectors ended in negative territory.The Sensex recovered from early steep fall to dip again in late trading. IT and bank stocks fell on profit-taking. TCS and HDFC Bank led the decliners.
- Elena
- 04 Oct, 2006
- New York City
Wal-Mart dropped 2.2% after the retailer cut its September same-store sales forecast to 1.3% from its previous estimate of 1.8%. TiVo slipped 9% after an appeals court allowed EchoStar Communications to continue selling its competing digital-video recorder models pending appeal of the companies'' patent dispute over the technology. As a result, Bear Stearns cut its rating on TiVo to underperform.