- 123jump.com Staff
- 24 Apr, 2006
- New York City
Market averages confronted earnings, dollar sentiment and merger news in early hours of trading. Weak earnings from American Express and Xerox but strong earnings from Caterpillar did not support early trading sentiment. Oil weakened but failed to fall far. The U.S. dollar came under heavy pressure as Japanese yen and euro rose in the volatile trading. After the close Sun Microsystems reported weak earnings. Scott McNealy resigned and stock jumped 7%.
- Elena
- 24 Apr, 2006
- Frankfurt
European stocks closed in the negative on lower start of U.S. markets and weaker U.S. dollar which put key auto and tech stocks under pressure. Export-related issues led decliners with automaker DaimlerChrysler and tech company Philips Electronics moving lower. Banking and insurance stocks also declined. The German DAX 30 dropped 0.3%, the French CAC 40 slipped 0.6%, and London FTSE 100 slid 0.6%.
- Elena
- 24 Apr, 2006
- Mumbai
Sensex Index in India cooled-off and lost 1% after rising 7% in last week trading. The index for the year is up 27%. Index in India came under attack after Tokyo corrected 2.8% and other Asian markets lost between 0.5% and 1.5%. IT stocks fell in the trading on the worries related earnings growth.
- Elena
- 24 Apr, 2006
- Metals
The three U.S. equity indices moved further down with the Nasdaq standing out as the leading decliner. Stocks declined on weakening U.S. dollar and a mixed batch of Q1 earnings reports. Declining profits at copier maker Xerox Corp. and a reduced 2007 forecast from online brokerage TD Ameritrade Holding Corp. overshadowed positive results from Dow component Caterpillar Corp. Gold and energy stocks declined, following a drop in prices.
- 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.