- 123jump.com Staff
- 30 Nov, -0001
- New York City
after a week of stock and metal markets gains, sotkcs are on the defensive in the opening hours. Oil traders find every reason to push the prices higher and took oil in the morning trading to $60. CarMax profit is up 13% but misses the estimates of 36 cents bt 2 cents and lowers the guidance for the 2005 and 2006. Precious metals market is unchanged.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Oil reached a new high and is likely to continue its advance in the coming weeks. Market observers blame lack of new refining capacities in the U.S., economic growth in Asia, war in Iraq and OPEC
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Latest read on consumer sentiment put investors in buying mood so much so that they shrugged off 3% rise in oil price. Current account deficit widened by 33% for the first quarter of the calendar year to $195.1 billion. Earnings from KB Homes took home buider stocks to a new high and Circuit City reported wider loss.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
The Jan-March current account deficit for the year jumped to $195.1 billion as the country piled on its existing debts to Europe, China, Japan and other Asian countries. Oil trades above $57 per barrel and gold crosses $440 per ounce with prices rising for copper and silver.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Housing starts continued at two million units in May but buiding permits for the single-family unit declined by more than 4%. The Energy department weekly report on heating oil inventory put traders on the edge. Rally in the metals in Asian and European markets was carried thorugh in the NY trading for the day.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Commodities and oil drive the market. Copper, gold and silver are trading higher on the recent market moves in Europe and Asia. Housing starts report and building permit continue to show strong construction activity. Goldman disappoints, Clorox and Potash gain on earnings, Smucker declines.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
In the morning trading housing stocks are under pressure. Commerce Department report suggests that while singel family housing starts in May were up 4.7% above April but building permits in May were 4.6% below the revised April rate of seasonally adjusted annual rate but still higher than 2 million units.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Investors' enthusiasm on decline in CPI and rise in industrial production was short lived. Treasury reported that net foreign purchase of U.S. assets was $47.4 billion much less than anticipated $70 billion. Oil closing above $55 dollar, strength in dollar and in metals market put market on the edge except in the last 40 minutes of trading.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Cosumer Price Index dips by 0.1% on the decline in oil prices by 3.4% in the month of May. Industrial Production increase as businesses build inventories. Markets sell-off as tech, health care, casinos sell-off but home builders jump.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
The decline in May CPI was largely related to decline in oil prices. However the index for housing was unchanged which many of us find it difficult to accept as housing prices continue to rise double digits across the country.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Mixed economic data kept investors guessing for more data but retail stocks were the choice of the day. Retailers, consumer stapes, health care and casino stocks rallied. GM and Mylan rallied as both companies put shareholders interest first. GM is reported to be in talks with union to lower health-care costs and Mylan declares $1.25 billion buy-back and doubles the quarterly dividend.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Fall in energy prices were reflected in Producers Price Index and Retail sales for the month of May. In annual terms the wholesale prices were up 3.5% lower than 4.8% reported in April. In the coming months food and energy price movements are key. Shipments of materials such as glass, steel and aluminum declined in the month of May.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Retail sales for May jumped 6.4% compared to a year ago and were lower by 0.5% compared to April but the decline was lower-than-expected. GM stock rallied on the market expectations that health-care cost contaiment talks with labor union may be resolved sooner than anticipated.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Then there is trade deficit. In a long running U.S. trade deficit, April deficit of $57 billion was the fourth largest deficit on record on jump in oil imports and 14% rise in imports from China. U.S. registered deficit with China, Japan, Mexico, Canada and EU. Americans love to import more and more as April import jumped 4.1% and export rose 3%. Separately China released $9 billion trade surplus, last night and crossed Japan as the third largest exporter in the world.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
April trade deficit at $57 billion, 12% higher than March, but a billion lower than the estimates led dollar higher in the morning trading in NY. Intel revised its Q2 revenue projection and raised gross margins, however tech market sold off. Ralph Lauren stock trades higher on earnings release. Auto sector trades higher on GM led rally.