- Ivaylo
- 17 Aug, 2006
- Metals
The market is reacting well to the slightly weaker U.S. dollar. The reaction of the market seems to back the attitude of the Fed of a slightly slowing economy that is going to keep inflation relatively in check and reduce the need for further rate hikes. That has put a little pressure on the dollar.
- 123jump.com Staff
- 16 Aug, 2006
- New York City
For the second day investors found a reason to cheer. CPI for the month of July rose 0.4% and core rate rose at 0.2%, lower than expected. After a mild rise in PPI and CPI, averages gained for the second day in a row. European markets gained a fraction but Mexico and Brazil rose near 1%. Gold gained, oil fell. Abercrombie and Big Lots gained 10%. HP reported earnings of 48 cents after the close. stock rose 7% in the after-market trading. The board authorized $6 billion stock repurchase plan.
- Elena
- 16 Aug, 2006
- New York City
European markets finished in the positive, helped by weaker-than-expected U.S. consumer inflation data. Technology stocks led advancers, with mobile phone maker Nokia and software giant SAP rising 2.8% and 3.4% respectively. The German DAX 30 rose 0.6%, the French CAC 40 advanced 0.4%, while London FTSE 100 slipped 1.30 points to 5,896.
- Elena
- 16 Aug, 2006
- New York City
Stocks traded higher on tame inflation figures that added to speculations the Fed Reserve might not raise rates in the near future. The housing market showed more signs of slowing, with housing starts falling to an annualized rate of 1.795 million in July, down from 1.85 million in June. Abercrombie & Fitch Co. jumped 10% on 14% profit increase in Q2. Big Lots Inc. added 1.2% after posting a Q2 profit from a year-ago loss. Estee Lauder Cos. Inc. saw 3.7% decline after its Q4 profits slid 33%.
- Elena
- 16 Aug, 2006
- Mumbai
Fall in oil price in the international market, rising markets in Asia and a prospect of weak inflation in the U.S. helped market in India to rally for the second day of this week. Oil, construction and banking sector stocks led the rally. Infosys fell in the last hour of trading and managed to trim some of the day
- Elena
- 16 Aug, 2006
- New York City
Big Lots led percentage gainers among components of the S&P Retail Index, rising 5.3% on a surprising swing to profit in Q2 and lifted oitlook. Abercrombie & Fitch reported Q2 earnings increase of 72 cents a share vs. 63 cents a year ago, beating estimates by a penny. Estee Lauder posted Q4 net income fell 33% to 21 cents a share from 30 cents a share a year ago, missing expectations.
- Elena
- 16 Aug, 2006
- New York City
The consumer inflation index jumped as a considerable rise in energy prices of 2.9% offset the biggest decline in clothing costs in nearly two decades. Core inflation, excluding food and energy, slowed in July, rising by just 0.2% after four straight months of 0.3% gains.
- Ivaylo
- 16 Aug, 2006
- New York City
Asia ended on a positive note after milder-than-expected U.S. inflation data gave hope that interest rates would continue to hold steady. Investors are still waiting for consumer price data which will come out tonight.Other markets around the region also finished higher including South Korea, China, Australia, Taiwan and Singapore. Only Malaisia bucked the trend and finished lower.
- Ivaylo
- 16 Aug, 2006
- Frankfurt
The fall came despite encouraging overnight gains on U.S. markets and strong trading in Asia, especially Japan closing above 16,000 for the first time since May and boosting domestic and export stocks. On a relatively quiet day for European corporate earnings, US consumer price inflation data due to be released later in the session could provide further clues as to whether US interest rates have peaked.
- Ivaylo
- 16 Aug, 2006
- Metals
Gold fell as news broke that wholesale core inflation unexpectedly fell in July. Wholesale prices including food and energy also came in below expectations, suggesting that inflation pressures may be easing.Silver and Copper also fell, while platinum and palladium gained.
- 123jump.com Staff
- 15 Aug, 2006
- New York City
Market opened in the upbeat mood and closed with more than 1% gain. Dow rose 1.2%, Nasdaq advanced 2.2% and S&P 500 gained 1.3%. Core rate of wholesale inflation in July fell unexpectedly sparking a broad rally. Wal-Mart reported its first decline in earnings in ten years. Wal-Mart earnings fell 26% from a year ago but the company kept its earnings forecast for the year. Home Depot earnings rose 5.3%. Existing-home sales fell 7% in the second quarter.
- Elena
- 15 Aug, 2006
- New York City
European averages posted solid gains Tuesday as benign U.S. inflation data cheered investors, bringing them back into the market. Among leading gainers, Hennes & Mauritz gained 3.6% and Sanofi-Aventis rose 2.5%. The German DAX 30 surged 1.5%, the French CAC 40 climbed 1.4%, and London FTSE 100 rose 0.5%.
- Elena
- 15 Aug, 2006
- New York City
Stocks continued to trade higher on benign inflation report. Among computer hardware stocks, Dell rose 3% after the company announced the recall of 4.1 million notebook computers to replace batteries made by Sony because of a risk of fire. Shares of Home Depot added 2% on strong earnings, while Wal-Mart lost 2% after the retailer posted its first profit decline in a decade.
- Elena
- 15 Aug, 2006
- New York City
Stocks rallied at opening as weaker-than-expected July PPI renewed hopes the Fed Reserve will not raise interest rates in the short term. The Labor Department said prices at the wholesale level edged up by 0.1% in July, the smallest amount in five months as falling food prices helped offset higher energy costs.
- Elena
- 15 Aug, 2006
- New York City
Stock futures were mixed on mixed profit reports from retail giants and cautiousness ahead of inflation data. Wal-Mart Stores posted its first profit decline in a decade, with Q2 earnings falling 26% to 50 cents per share from 67 cents a year ago due to a hefty $863 million charge related to the sale of its German stores. The Home Depot reported a 5.3% jump in Q2 earnings to 90 cents a share, up from 82 cents a share a year ago on 16.7% revenue growth.