- 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.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Americans continue to import at a record pace. At the current rate of deficit, U.S. deficit is expected to hit close to $700 billion by the year end 2005. Oil is reflecting 1/3 of trade deficit and deficit with China continues to grow.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Fed Chairman's optimistic view on the economy and possiblity of measeured rate increase led markets to a mild rally. Investors viewed National Semi earnins in a positive manner leading a broad rally in the semi conductor sotcks. Luby's Richemont, H&R Block, Navistar were up in the session. The shares of copper and other mining stocks were lower. Oil rallied 3%.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
European and Asian markets trade lower in anticipation of U.S. economic review from Fed Chairman. Oil had rebounded on the worries of gasoline supply in the comnig months. UPS shares are trading lower on downgrade, Intel and other semiconductors are also on the decline in the morning trading. H&R Block is up 10% on earnings news.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
White House lowers the annual GDP forecast for the year from 3.5% to 3.4% and raises the monthly job creation to 178 K from 175 K. 10-year note fell to 3.93% as coprporate new issue supplies hit the bond market. Kirkorian's tender offer for GM manages to raise stake to 7.2% but misses the 8% target. IAC/interactive sells its stake in VivendiUniversal for $3.4 B.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Oil is back in the news. Oil rallied 54 cents on the lower U.S. crude inventory. Texas Instuments revised its earnings and revenue forecast. Energy stocks, tech stock, financials are trading higher but trucking stocks are trading lower.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Early trading is dominated by Texas Instuments news of revised earnings and revenue for the quarter. Oil declines by 50 cents but energy stock still rise. IAC/Interactive is in deal to sell its stake in VivendiUniversal for $3.4 billion.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Fed Chairman's comments rallied stock and bond markets. Yield on 10-year fell below 3.89%. Several sectors rallied in the morning hours but only few sectors managed to hold on to gains. Retailers, home builders, and financials managed to close up. Oil dropped 73 cents to $53.76 per barrel. Weakness in the semi sector continued for the day.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Treasuries rally on Fed Chairman's belief that flatter yield curve does not reflect slowing economy. 10-year yield on treasury fell below 3.89%. Monsato raised its adjusted earnins outlook for the quarter and ConAgra said it will miss the current quarter earnings by 10 cents. oil and metals are in decline for the session so far. GM stock rises as far as 1.8%.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
Flattening yield in the 10-year treasury and Fed Chairman's comment that this itself does not spell disaster for the economy brought several buyers to the stock market. The yield fell to 3.89%.
Buyers drive stock averaes in the opening hour to the higher ground. Tech, energy, financial, REIT, drug and HMOs shares are trading higher.
Dollar lost some ground to Euro.
- 123jump.com Staff
- 30 Nov, -0001
- New York City
In a day of lackluster trading with little news to digest oil and metals market volatility drove averages. While oil traded up and then down but this volatility drove oil stocks to a new high. Deal between Weatherford and Precision Drilling supported buying in oil stocks. Washinton Mutual agreed to buy Providian in a multibilion dollar deal and Prolois and Catellus agreed to merege.