- 123jump.com Staff
- 13 Dec, 2001
- New York City
November retail sales rose 1% from previous month and 5.6% from a year ago after adjusting for seasonality. The 1% rise was significantly higher than estimate of 0.1% expected by most analysts. October retail sales decline was revised from loss of 0.4% to 0.1%. Market averages rose on the news but failed to sustain the rally on the rise in crude oil price. Oil invenory fell more than expected sparking inflation worries and dragging the averages lower. UAL and Continental are discussing merger.
- Elena
- 13 Dec, 2006
- New York City
European stocks advanced Wednesday, boosted by retail stocks, stronger U.S. dollar, and gains on Wall Street. Dollar-sensitive export stocks posted gains, as the greenback rose 0.4% to $1.3219 vs. the euro. The German DAX 30 advanced 0.7%, with automaker Volkswagen and chip maker Infineon Technologies, up 1.9% each. The French CAC 40 rose 0.9%, helped by 1.7% rise for Airline Air France-KLM. The U.K. FTSE 100 ended up 0.6%, helped by online gambling companies PartyGaming and SportingBet.
- Elena
- 13 Dec, 2006
- New York City
Market retreated from an early rally on strong retail data, as a disappointing oil inventory report sent oil prices sharply higher. Light sweet crude rose 58 cents to $61.60 after the U.S. government reported that crude supplies fell by 4.3 million barrels last week. IPOs were boosted by the early bullish sentiment. IPG Photonics surged 50% after it offered 9 million shares at $16.50 each, yielding proceeds of $149 million. The stock opened at $25 a share.
- Elena
- 13 Dec, 2006
- New York City
Trading was extremely volatile on Wednesday as the benchmark index swung almost 400 points from low to high. Investors were covering short positions today and taking new long positions that helped the market rebound. Reliance Communications was the leading advancers, Bharti Airtel also surged. Reliance Industries ended the session with a significant gain. Banks pulled off after the recent steep decline. ONGC and Tata Steel led the decline.
- Elena
- 13 Dec, 2006
- New York City
Stock markets opened higher, as better-than-expected retail sales in November, eased concerns about the extent of a slowdown in the economy. Sales rose 1%, much higher than the 0.2% gain expected by economists. Dow component Wal-Mart was among the biggest blue-chip gainers, adding 1%. Merger talks between airlines UAL and Continental Airlines also helped boost the sentiment.
- Ivaylo
- 13 Dec, 2006
- New York City
UK market was on the advance through the morning as Tate & Lyle surged, while some upbeat miners countered the losses in banking shares. Broker comments from JP Morgan put Alliance & Leicester back although the group announced forecast profits for this year would top forecasts of analysts. In mid-day trade the FTSE 100 was 17 points, or 0.4%, higher at 6,184.4 having opened the session lower.
- Elena
- 13 Dec, 2006
- New York City
U.S. stock market futures posted solid gains, boosted by strong retail sales and deal talk in the airline sector. Seasonally adjusted retail sales rose 1% in November, well above economist estimate. UAL Corp. and Continental Airlines were reportedly in talks about a possible merger that would create the largest U.S. domestic carrier. Continental shares rose 4.9% and UAL shares gained 5%. Apple shares advanced 1.4% to $87.36 after Morgan Stanley raised its stock price target.
- Ivaylo
- 13 Dec, 2006
- New York City
Asian stocks finished mixed Wednesday, with Japanese Nikkei benchmark index gaining for a third consecutive session on the slipping yen and weaker oil prices that benefitted exporters, while Hong Kong market plunged due to Chinese telecommunications companies. South Korea ended higher supported by gains in Shinhan Financial Group. Taiwan dipped on late-session bargain-hunting from fund managers while Australia finished higher on CSL and Toll Brothers.
- Ivaylo
- 13 Dec, 2006
- New York City
European stocks advanced slightly on Wednesday owing to strong results from the banking sector, while retail stocks did not fail to outperform in the run up to Christmas. Investors eyed news from companies such as Spanish retailer Inditex. The company announced that its net income for the first nine months of 2006 rose 22%. By mid morning, FTSE 100 in London was up 0.1%, Frankfurt Xetra Dax was flat, and the CAC 40 in Paris was 0.1% higher.
- Ivaylo
- 13 Dec, 2006
- New York City
The precious metals trading finished before the decision on interest rates so traders refrained from giving direction to the markets in either direction in front of the Fed meeting on Tuesday afternoon. Some weakness in gold was witnessed when the dollar started to edge up after a surprise reduction of the U.S. trade deficit. The gap stood at $58.87 billion in October, compared with $64.26 billion in September.
- 123jump.com Staff
- 12 Dec, 2006
- New York City
Treasuries rallied after the Fed left Fed Fund rates unchanged at 5.25%. Widely expected move lifted the averages briefly but failed to keep markets close in the positive. Goldman Sachs reports 93% jump in earnigs to $6.59 per share or $3.15 billion, best quarterly earnings ever. The stock fell $2.50 on the news but still up 57% for the year. Fannie Mae sues former auditor KPMG over $6.3 billion in accounting errors. GE predicts earnings growth of 13% in the year 2007.
- 123jump.com Staff
- 12 Dec, 2006
- New York City
Major averages failed to bounce back after the Fed left its short term rates unchanged. Fed left Fed Fund rates at 5.25%, widely expected move failed to excite the market. Bond marke rallied and debate over the Fed statement raged. The tone in the statement appears to be dovish than the in the previous release. Goldman reported best quarter ever and Best Buy reported strong sales but weaker margins.
- Elena
- 12 Dec, 2006
- New York City
European stocks finished lower on Tuesday amid cautious trading before a Federal Reserve decision on interest rates. The German DAX 30 closed down 0.1%, dragged by semiconductors STMicroelectronics and Infineon Technologies. The French CAC 40 slipped 0.2%, with holiday group Club Mediterranee contributing to the losses. London FTSE 100 fell 0.2%.
- Elena
- 12 Dec, 2006
- New York City
U.S. market averages posted modest weakness in a light trading session Tuesday, with investors cautious ahead of the Fed Reserve''s decision on interest rates. Weak sales at Best Buy raised concerns of decreasing demand for electronics, sending the stock down 6%. Shares of Dow component Citigroup fell 1.6% after the investment bank named a new COO but indicated that there would not be any additional executive changes.
- Elena
- 12 Dec, 2006
- New York City
Reserve Bank of India tightening of leding rules, three days ago, has kept investors worried about inflation and slowing economic growth. The bennchmark index lost almost 1,000 points in just three days, aided today by the unexpectedlly slow industrial production growth in October. Intense selling in banks and almost all Sensex stocks hit the market. Highly volatile market had weak breadth. The only advancers among large-caps was HDFC Bank, while the Bharti Airtel and Grasim led the decliners.