- Elena
- 09 Jan, 2006
- New York City
Asian-Pacific markets closed higher, buoyed by the continuing tech rally with Hong Hong hitting a five-year high of 1.3% to 15,547.43 and Australia reaching an all-time peak of 0.8% to 4,775.80. Japan was closed for a national holiday. European stocks extended recent highs, supported by gains in Adecco and easyJet. In earnings news, Helen of Troy reported Q3 earnings drop of 72 cents a share from 97 cents a year ago on lower sales, missing estimates of 77 cents a share.
- 123jump.com Staff
- 06 Jan, 2006
- New York City
For the week all three market averages advanced led by strong rise in tech stocks. Internet, techs, casinos and consumer stocks advanced for the week. Energy prices and stocks rose on the back of 2% rise in crude oil price. Natural gas price dropped 14% for the week. Gold rose $20 during the first week of trading.
- Elena
- 06 Jan, 2006
- New York City
U.S. stocks gained Friday morning on disappointing employment report, which gave investors ground to consider it a sign that the Fed Reserve will stop raising interest rates. The Labor Department report showed 108,000 gain in payrolls in Dec., far below expectations of a rise by 215,000 and prior month''s growth of 305,000. Market sentiment was also supported by earnings upgrades for Google and Yahoo. The technology giant IBM lifted the Dow, rising 2% on a decision to change its pension plan.
- Elena
- 06 Jan, 2006
- New York City
U.S. stocks sharply advanced at opening on disappointing employment report, which gave investors ground to consider it a sign that the Fed Reserve will stop raising interest rates. Market sentiment was also supported by earnings upgrades for Google and Yahoo. In corporate news, Microsoft was downgraded by Credit Suisse First Boston to neutral from outperform. IBM announced freezing of its pension plan in 2008.
- Elena
- 06 Jan, 2006
- New York City
Major Asian-Pacific benchmarks rallied for a fifth consecutive session, boosted by tech shares with South Korean Kospi hitting an all-time high of 1.2% to 1,412.79. The Nikkei gained 16,428.21, the highest level since September 2000. European stocks traded in a tight range at mid-day, led by the CAC 40, up 0.4%. In corporate news, Microsoft was downgraded by Credit Suisse First Boston to neutral from outperform. IBM announced freezing of its pension plan in 2008.
- Elena
- 05 Jan, 2006
- New York City
Semiconductors gained for the third session in a row, boosting the Nasdaq up 0.5%, while the broader market was flat on Boeing downgrade and December retail sales. Target Corp., Costco Wholesale, Nordstrom and Federated Department Stores posted strong sales, but Wal-Mart disappointed. The Labor Department reported a five-year low of initial jobless claims by 35,000 to 291,000. The non-manufacturing index rose to 59.8 in Dec from 58.5 in Nov, above a forecast for a rise to 59.0.
- Elena
- 05 Jan, 2006
- New York City
Stocks started Thursday session flat as retailers'' reports on December sales showed respectable holiday season but a few big names, including Wal-Mart, disappointed traders. Among the leading gainers were Target Corp., Costco Wholesale, American Eagle Outfitters with luxury retailers like Nordstrom and Federated Department Stores making the best performance. Wal-Mart fell short of expectations, posting only a 2.2% same-store sales growth.
- Elena
- 05 Jan, 2006
- New York City
Asian-Pacific benchmarks continued to rally on tech and exporter issues, led by Taiwan''s Weighted index, up 1.4% and Singapore Straits Times, up 0.99%. The Nikkei advanced 0.4% to 16,425.37. European averages traded in a tight range with the French CAC 40 and London''s FTSE 100 lifted by strong oil stocks. The Labor Department reported that initial jobless claims dropped by 35,000 to 291,000, the smallest number since Sept. 23, 2000.
- 123jump.com Staff
- 04 Jan, 2006
- New York City
Market averages, even though closed and traded higher during the day, lacked direction. Market looked for direction from the report on factory orders and auto retail sales for the December month. Factory orders rose 2.5% but the domestic automakers lost market share during the month and for the year 2005. Crude oil rose but natural gas tested four-month low.
- Elena
- 04 Jan, 2006
- New York City
Stocks opened flat on lower oil and signals that the Fed Reserve will stop raising interest rates, but later advanced on a brokerage upgrades of Google and ExxonMobil with the Nasdaq rising over 0.9%. In economic news, November factory orders rose 2.5%, following a downwardly revised increase of 1.7% in October, slightly above estimates of a 2.2% increase.
- Elena
- 04 Jan, 2006
- New York City
Stocks opened at the flat line, following the strong rally Tuesday which resulted from the latest FOMC meeting and the indications that the Fed Reserve will stop raising interest rate. Google was upgraded at Bear Stearns to outperform from peer on confidence in the Internet search company''s long-term fundamentals. Copper hit a fresh peak, supported by a strike in Chile with March delivery at $2.11.
- Elena
- 04 Jan, 2006
- New York City
Asian-Pacific benchmarks closed sharply higher on export and tech shares with the Nikkei reaching a new five-year high of 1.6% to 16,361.54. Jakarta Composite surged to 2.3%, followed by Hong Kong''s Hang Seng and Shanghai Composite, each up 1.7%. European stocks were also strong at mid-day on lower oil and speculations rate-hike cycle is close to an end. Chemicals company Monsanto swung to 22 cents profit in Q1 from a loss of 15 cents a share a year ago, beating estimates of 19 cents.
- 123jump.com Staff
- 03 Jan, 2006
- New York City
Less than robust construction spending and weaker than expected read on manufacturing put pressure on the averages in the early trading. Market reversed its direction and climbed more than 1% on Dow and close to 2% on Nasdaq near close. General Motors dropped to a new low. Oil jumped 3% on speculative buying. Gold jumped $13 per ounce. Affiliated Computer is reported to be in a deal to go private at $8 billion.
- Elena
- 03 Jan, 2006
- New York City
Stocks erased early gains to turn mixed at mid-day on disappointing economic data and oil prices above $63 a barrel. The ISM manufacturing index fell to 54.2 in Dec, less than the 57.5 reading expected by economists and off from a reading of 58.1 in Nov. The Commerce Department reported that construction spending rose 0.2% in Nov, far less than 0.7% gain expected. Bonds moved higher, with the yield on the 10-year Treasury note falling to 4.37% from 4.40%.
- Elena
- 03 Jan, 2006
- New York City
Piper Jaffray and J.P.Morgan showed improved views of Google and Dow component Johnson & Johnson. Treasury yields rose with the 10-year yield up to 4.413%, moving above its range of the past couple days. The ISM''s manufacturing index fell to 54.2 in Dec, less than the 57.5 reading expected by economists and off from a reading of 58.1 in Nov. The Commerce Department reported that construction spending rose 0.2% in Nov, far less than 0.7% gain expected.