- Elena
- 24 Apr, 2006
- New York City
Stocks opened in the negative as surging oil prices overshadowed strong earninghs reports. Heavy equipment maker Caterpillar Inc. reported a 48% increase in Q1 profit, beating expectations due to strong sales to mining and energy companies. Novartis reported Q1 net income rise of 32% on 13% revenue growth. Watsco also exceeded expectations, posting Q1 net income rise on 14% revenue growth. Ameritrade fell, despite posting Q1 earnings increase to 22 cents a share, beating estimats by a penny.
- Elena
- 24 Apr, 2006
- New York City
Stock futures predicted flat opening with investors focused on surging oil prices and concerns about corporate profits and consumer spending. In earnings news, heavy equipment maker Caterpillar Inc. reported a 48% increase in Q1 profit, beating expectations due to strong sales to mining and energy companies. Novartis reported Q1 net income rise of 32% to $1.96 billion on 13% revenue growth. Watsco also exceeded expectations, posting Q1 net income rise to 47 cents a share on 14% revenue growth.
- Elena
- 24 Apr, 2006
- Frankfurt
European markets declined at mid-day as weaker U.S. dollar put key auto and tech stocks under pressure. Dollar-sensitive shares were leading decliners with DaimlerChrysler and Philips Electronics moving lower.The German DAX 30 dropped 0.2%, the French CAC 40 slipped 0.4%, while London FTSE 100 edged down 0.04%.
- Elena
- 24 Apr, 2006
- New York City
Asian markets finished broadly lower, led by the Nikkei, making the biggest point drop for the year. The Japanese index plunged 2.8% to 16,941.40 as weaker dollar against the yen dragged export-related auto and electronics stocks. Banking and telecom shares also moved lower. South Korea
- 123jump.com Staff
- 23 Apr, 2006
- Metals
Recent events in stock market suggest that interest rate hike may come to a stop and that will be good for the econony and by extension for stock market. It is widely believed that price inflation is under check and asset inflation is temporary. The Fed has broadcasted in recent days that higher rates may wait. It is this lost time in waiting, may limit the Fed from taking actions to save dollar from future attacks in the international markets. Will gold rise in the short term?
- 123jump.com Staff
- 21 Apr, 2006
- Metals
Central Bank around the world have decreased theri gold holding since the beginning of the decade. U.S. dollar volatility, persistent and growing trade and current account deficit in the U.S. may pormpt Central BAnks around the world to begin diversification of their holdings. The U.S. trade deficit is likely to reach above $900 billion by the yeaar end. Total gold holding of the U.S. is only $160 billion.
- 123jump.com Staff
- 21 Apr, 2006
- New York City
Gulf of Mexico has witnessed one of the largest sustained loss of oil and gas production in the last six months. In the last six months 27% of oil and 20% of gas production has been lost. Iran suggested higher oil prices and reiterated that Western nations can afford to real oil price. In the past Iran has suggested oil price of more than $100 per barrel.
- 123jump.com Staff
- 21 Apr, 2006
- New York City
Market averages for the most of the day fell after rising in the morning. Rising prices of oil and metals acted as a damper to trading sentiment. Analyst downgrade of Dell sent tech stocks lower. SanDisk and Getty Images lost 10% or more as earnings disappointed market. Mexico lowered rate from 7.25% to 7.0%. Mexico, India, Indonesia and Russia surge during the week.
- 123jump.com Staff
- 21 Apr, 2006
- New York City
Emerging markets remained a favorite destination of international investors. Markets in Asia, India, Russia and Mexico staged record highs during the week led by 7% rise in India. Mexico closed at record high on ninth rate cut in nine months and Brazil cut the rate earlier this week as well. India did not raise the rate this week surprising the market. International prices of metals, commodities and oil supported emerging markets gains around the world.
- Elena
- 21 Apr, 2006
- Frankfurt
European markets closed in the positive, boosted by strong U.S. markets start on the back of upbeat news from Google and 3M. The tech sector was the only decliner, dragged by disappointing quarterly results from Sweden
- Elena
- 21 Apr, 2006
- Mumbai
Sensex came under heavy selling pressure in the morning trading only to lose 160 points at mid-day. The index staged a slow recovery in the last 30 minutes of trading to close 30 points lower. Sensex gained 7% for the week and amid increasing volatile trading.
- Elena
- 21 Apr, 2006
- New York City
Ford posted its biggest deficit in more than four years on restructuring plan with sales down 9% on lower demand. Dow industrial 3M rose 2% on 17% quarterly profit jump, reflecting improved sales. The company increased outlook. McDonald''s Corp. said its earnings dropped 14% from the year before, despite 6% sales growth. SanDisk Corp. said Q1 profit fell almost 47% to 17 cents a share, on $623 million in revenue, blaming acquisition of Matrix Semiconductor and compensation expenses.
- Elena
- 21 Apr, 2006
- New York City
Google shares sharply jumped after the company posted Q1 profit jump of 60% on revenue growth of 79%. Earnings for the quarter came in at $1.95 vs. $1.29 a year ago on gross revenue of $2.29 billion. Google generated 58% of sales from ads on its own site and 41% from its advertising partners.
- Elena
- 21 Apr, 2006
- Frankfurt
European stocks rose at mid-day, supported by six-year-high close of the Dow overnight which offset disappointing news from Sweden
- Elena
- 21 Apr, 2006
- New York City
Asian-Pacific benchmarks finished mixed. The leading gainer was China Shanghai Composite, rising 2.2%, led by Sinopec. South Korean Kospi reached a record high of 1.2%, lifted by major tech companies. The Nikkei rose 0.5%, helped by blue chip stocks. Markets in Hong Kong, Australia and Taiwan declined.