- Elena
- 29 Mar, 2006
- New York City
Bargain hunting helped stocks trade in the positive, recovering from the heavy losses posted yesterday after the Fed Reserve released its statement on interest rate hikes. Brokerage upgrades on 3M and Sun Microsystems lifted market sentiment. Shares of 3M rose 2.6%, while Sun Microsystems jumped 6.2%. Shares of GM fell 3.9% after saying it would restate financial results for financing arm GMAC from 2003 through the third quarter of 2005.
- Elena
- 29 Mar, 2006
- New York City
Stock started trading higher after the heavy losses posted yesterday on another increase of interest rates and signals, given by the Fed Reserve that hikes may continue. Brokerage upgrades on 3M and Sun Microsystems lifted market sentiment. Shares of 3M rose 2.6%, while Sun Microsystems jumped 6.2%. Meanwhile, UBS downgraded machinery giant Caterpillar to neutral from buy.
- Elena
- 29 Mar, 2006
- New York City
Stock futures were in a positive mood Wednesday morning, indicating a higher trading start after the heavy losses posted yesterday on another increase of interest rates and signals, given by the Fed Reserve that hikes may continue. Brokerage upgrades on 3M and Sun Microsystems lifted market sentiment. Shares of 3M rose 1.4%, while Sun Microsystems jumped 4.2%.
- Elena
- 29 Mar, 2006
- New York City
Market in India rose for the fourth day in a row to a new high after adding 0.9% for the day and 3.2% in the last four days. Broad buying from the local and foreign investors led the advance but on a significant declining volume. Sugar and software exporters led the rally on higher sugar prices and rising earnings expectation.
- Elena
- 29 Mar, 2006
- Frankfurt
European averages advanced, recovering from two-day declines. Stocks were supported by strength in Asian markets and largely ignored the weakness on Wall Street, following the Fed Reserve''s decision to increase interest rates. The German DAX 30 added 0.2%, the French CAC 40 rose 0.5%, and London FTSE 100 climbed 0.6%.
- Elena
- 29 Mar, 2006
- New York City
Asian-Pacific benchmarks closed mostly higher. The Nikkei hit a new five-and-a-half-year high of 1.5% to 16938,41 on improved confidence in economic recovery and fresh fund flows. Tech stocks and exporter issues gained on stronger dollar. Singapore Straits Times reached a six-year high, rising 0.3%. Taiwan Weighted index rose 0.7%, China Shanghai Composite gained 0.5%, while Hong Kong Hang Seng dropped 0.7%.
- Elena
- 28 Mar, 2006
- Frankfurt
European averages rebounded from earlier gains to close lower. Stocks were dragged by weakness in the telecom sector and cautiousness over interest rates increases. Upbeat economic data on German business sentiment failed to offset losses. The German DAX 30 fell 0.2%, the French CAC 40 dropped 0.6%, and London FTSE 100 lost 0.4%.
- Elena
- 28 Mar, 2006
- New York City
Cautiousness ahead of the Fed Reserve''s decision on interest rate hikes kept sttocks trading in a tight range. A sharp jump in crude oil prices to $65.75 contributed to solid gains in the energy sector. Notable gains were shown by Honeywell, Alcoa, and ExxonMobil.
- Elena
- 28 Mar, 2006
- New York City
Stocks started trading near the flat line on cautiousness ahead of the Fed Reserve''s decision on interest rate hikes. Banks and insurers, which are interest rate-sensitive stocks, slipped. An increase in oil prices sent the energy sector 1.4% higher, but helped airline stocks move to the downside with the whole sectordown 1%. Strength in networking stocks boosted the Nasdaq, with Ciena and Tellabs standing out as the best performers.
- Elena
- 28 Mar, 2006
- New York City
Stocks started trading near the flat line on cautiousness ahead of the Fed Reserve''s decision on interest rate hikes. Banks and insurers, which are interest rate-sensitive stocks, slipped. An increase in oil prices sent the energy sector 1.4% higher, but helped airline stocks move to the downside with the whole sector down 1%. Strength in networking stocks boosted the Nasdaq, with Ciena and Tellabs standing out as the best performers.
- Elena
- 28 Mar, 2006
- New York City
Stock futures pointed to a slightly weak opening with ivestors awaiting the Fed Reserve''s decision on interest rate hikes. Homebuilder Lennar reported 34% earnings jump in Q1 on 35% revenue growth, beating expectations. Jewelery retailer Tiffany posted Q4 profit decline of 97 cents a share from $1.48 a share last year, despite sales growth, but still exceeding estimates.
- Elena
- 28 Mar, 2006
- Frankfurt
European stocks traded mostly higher at mid-day, supported by auto and technology stocks. The German DAX 30 rose 0.3% on upbeat economic data, offsetting losses ahead of Fed Reserve''s decision on interest rates. The French CAC 40 gained 0.3%, while London FTSE 100 lost 0.1%.
- Elena
- 28 Mar, 2006
- New York City
Asian-Pacific benchmarks finished mostly higher, ignoring worries about interest rate increases. The Nikkei rebounded from early weakness to rise 0.2% to 16,690.24, lifted by technology, metals and retail stocks, while bank and brokerage issues dropped. Taiwan Weighted index rose 0.5%, Hong Kong Hang Seng gained 0.3%, and Shanghai Composite addded 0.2%.
- Elena
- 27 Mar, 2006
- New York City
Interest rates were in focus as traders turned their focus to the
outcome of th Fed meeting on Tuesday. Fed has raised interest rates 14
times since June 2004 to 4.5% and is widely expected to raise rate by
a 25 basis points to 4.75%. Tobacco stocks fell as Altria lost 1.2%.
Emerging markets rose led by India gaining 1.2%. Brazil Finance
Minister resigned.
- Elena
- 27 Mar, 2006
- New York City
Ahead of Fed Reserve''s decision on interest rates, stocks traded in a lackluster fashion. The Dow and S&P 500 traded below the flat line, while the Nasdaq showed strength. The worst performers were pharmaceutical stocks, dragged largely by AstraZeneca, down 2.9%. Biopharnmaceutical company Encysive tumbled 46.5%. Energy stocks were under pressure on lower oil prices, while airline stocks benefited from the decline. Housing and gold stocks were notable gainers.