- 123jump.com Staff
- 30 Nov, -0001
- New York City
Morning tech rally weakened at mid-day and regained its strength as optimistic sentiment for the rest of the earnings season remained, bolstered by stronger-than-expected results from IBM and Merrill Lynch. Investors look forward to more earnings reports today, including Intel, Motorola and Yahoo, which are due after the closing bell. Housing starts were flat in June as new residential construction rebounded in the South while declining in the rest of the U.S. Building permits advanced 2.4%.
- albena
- 30 Nov, -0001
- New York City
Morning tech rally weakened at mid-day even though optimistic sentiment for the rest of the earnings season remained, bolstered by stronger-than-expected results from IBM, Caterpillar and Merrill Lynch. Investors look forward to more earnings reports today, including Motorola and Yahoo, which are due after the closing bell. Housing starts were flat in June as new residential construction rebounded in the South while declining in the rest of the U.S. Building permits advanced 2.4%.
- albena
- 30 Nov, -0001
- New York City
Several Dow stocks were under the spotlight. Merrill Lynch shares rallied 2.2% after the company reported 2Q earnings, topping estimates on a 20% jump in revenue. Better-than-expected results from Wachovia Corp. further boosted sentiment. Housing starts were flat in June as new residential construction rebounded in the South while declining in the rest of the U.S. Building permits advanced 2.4%.
- albena
- 30 Nov, -0001
- New York City
U.S. stock futures are poised to open higher Tuesday after IBM posted 2Q results that beat forecasts. The numerous blue-chip earnings releases scheduled Tuesday will be investors
- 123jump.com Staff
- 30 Nov, -0001
- New York City
The day's trading was dominated by earnings news from 3M, Bank of America, CitiGroup and Eaton Corp. CitiGroup and Bank of America announced better earnings than a year ago but still missed the market expectations. The weakenss in the large cap stocks during the day was reflecting this disappointment. IBM reported 2Q earnings of $1.12 vs. $1.01 per share beating the estimates by 9 cents.
- albena
- 30 Nov, -0001
- New York City
Stocks fell Monday after Citigroup reported weaker-than-expected earnings and provoked investors' concerns about other companies' 2Q financial results. Citigroup earnings said tough market environment was to blame for the earnings 5 cents below expectations.
- albena
- 30 Nov, -0001
- New York City
Futures were lower in early trading, dropping after the Dow component Citigroup announced its financial results. The No.1 U.S. financial institution reported lower 2Q operating income that disappointed forecasts, while net income advanced vs. last-year
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Good news on PPI and wholesale inflation followed by yesterday's weak CPI failed to energize the market. The positive earnings from GE, Cintas and McDonald's failed to lift the averages for the day. The weak inflation, good earnings, strong output from the nation's mines, factories and utilities was the best report an economist can expect. But investors want more.
- albena
- 30 Nov, -0001
- New York City
Stocks declined at mid-day despite positive economic reports and solid GE earnings, as investors' focus moved onto the rise in oil. Federal Reserve reported industrial production rose 0.9% in June, the biggest jump in 14 months. Business inventories grew by 0.1% in May, according to the Commerce Department.
- albena
- 30 Nov, -0001
- New York City
The core rate of inflation at the wholesale level fell 0.2% vs. expected rise 0.4% in June. The New York Federal Reserve Bank's Empire State Manufacturing index rose to 23.9 in July vs. a revised 10.5 in June. U.S. industrial production climbed 0.9% in June, the strongest monthly increase since Feb. 2004. Economists were expecting production to rise 0.4%.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
June retail sales were driven higher by 1.7% as auto discounts spurred better-than-anticipated sales. The inflation when measured at CPI level rose by 0.1% in June compared to 0.2% forecast. The benign inflation in the CPI index supported the early gains in the market. The Initial Claims for the unemployment jumped to 336,000 last week.
- albena
- 30 Nov, -0001
- New York City
Rosy inflation report, strong retail-sales results and positive earnings fueled the rally on Wall Street. Core CPI ticked up by just 0.1% vs. views of 0.2%. Initial jobless claims came in at 336,000 for the week ended July 9, up 16,000 vs. previous week. The Consumer Price Index was unchanged in June vs. forecasts of a rise by 0.2%. Retail sales jumped by 1.7% in June, above the 1% advance projected by economists.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
The May trade deficit is though lower than April deficit but the annual deficit is still likely to top $700 billion. Apple reported 2Q earnings of 37 cents vs. 8 cents a year ago and expected 31 cents. AMD reports 2Q profit drop of 66% to 3 cents vs. 9 cents a year ago but tops the estimates of loss. YUM Brands reported 2Q earnings of 62 cents vs. 58 cents a year ago on 5% same-store U.S. sales.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
The deficit for the Jan-May period jumped from $207 billion in 2003 to $236 billion in 2004 to $284 billion on 2005.
The crude oil import for the month of May remained above 10 million barrels tracking the average import for the last two years for the similar months but average crude price per barrel jumped from $33.14 in 2004 to $43.08 per barrel. The 30% higher price of crude has not dampened the import of crude from a year ago.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
The deficit for the Jan-May period jumped from $207 billion in 2003 to $236 billion in 204 to $284 billion on 2005.
The crude oil import for the month of May remained above 10 million barrels tracking the average import for the last two years for the similar months but average crude price per barrel jumped from $33.14 in 2004 to $43.08 per barrel. The 30% higher price of crude has not dampened the import of crude from a year ago.