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Market Update

World Markets Rally on the ECB Action Hopes, S&P Up 1.9%

Bikram Pandey
27 Jul, 2012
New York City

U.S. indexes extended rally that began in Europe yesterday and swept around the world on the hopes of a fresh round of bond purchase by the European Central Bank. The strong market gains were seen in broad indexes and commodities closed higher. However earnings related stocks dominated trading.

Nikkei Jumps 1.5%, Automobiles and Steel Makers Lead Advance

Nigel Thomas
27 Jul, 2012
New York City

Nikkei index in Tokyo advanced 1.5% and for the week decreased 1.2%. Automakers, steelmakers and shippers led the market advance after comments from the ECB president and short covering fuelled the rally.

U.S. Movers: Aon, Amazon.com, Chevron, Merck, Newmont Mining

Mukesh Buch
27 Jul, 2012
New York City

Aon second quarter net slipped 5% and Amazon.com second quarter net tumbled 96% to $7 million. Chevron second quarter net slid 1.6% to $7.21 billion. Merck net declined 11.4% to $1.79 billion and Newmont Mining plunged 27.9% to $279 million.

Australians Worry Iron Ore Price Decline

Marcus Jacob
27 Jul, 2012
New York City

Australian markets close higher as commodities advanced and the dollar gained a fraction. The spot price of iron ore declined for the second week in a row and dropped to a new low of $118 a ton and is likely to test the price level of $110.

U.S. Movers: ABB, Amgen, Chubb, Facebook, Starbucks, United Technologies

Mukesh Buch
27 Jul, 2012
New York City

ABB second quarter net declined 27%. AstraZeneca second quarter net plunged 46% to $1.24 billion. Facebook second quarter net swung to $157 million loss. United Technologies net rose and completed the acquisition of Goodrich.

U.S. Growth Rate Slowed to 1.5%, Lower Yields in Europe

Arthi Gupta
27 Jul, 2012
New York City

U.S. indexes advanced after economic growth declined to 1.5% rate in the second quarter. Italy raised

Europe Movers: Michelin, Pearson, Renault

Arthi Gupta
27 Jul, 2012
New York City

Linde and Michelin first-half earnings rose on revenue growth. Lafarge quarterly net plunged 80% on Greek impairment charges. Total earnings plunged 42% in the second quarter.

Europe Movers: Barclays, Danone, EADS, Saint Gobain

Arthi Gupta
27 Jul, 2012
New York City

EADS lifted its fiscal 2012 earnings outlook. Saint-Gobain said second quarter hit by a deterioration in the economic climate in Western Europe.

European Indexes Pare Gains, Spanish Jobless Rate at 24.6%

Arthi Gupta
27 Jul, 2012
New York City

The European indexes pared gains on worries that Greece is struggling to meet its deficit target. Euro-zone leading index declined in June. Spanish jobless rate rose in the second quarter. Total and Lafarge quarterly earnings slumped.

Earnings Drive World Markets Sentiment, Draghi Reiterates Euro Stance

Bikram Pandey
26 Jul, 2012
New York City

Latest batch of earnings from U.S., Europe and Asia lifted markets sentiment in nine largest markets around the world. Indexes in Europe and New York also advanced after ECB president reiterated his comments to preserve the euro. Commodities gained.

Tokyo Movers: Canon, Fanuc, Nintendo, Nissan and Nomura

Nigel Thomas
26 Jul, 2012
New York City

Stocks in Japan rebounded after short sellers completed most of the selling earlier in the week. Nissan quarterly profit declined 15% and stronger yen took a bite from the earnings. Fanuc gained after it reaffirmed first half outlook. Nintendo reported narrower loss.

U.S. Movers: 3M, Colgate-Palmolive, Exxon, Kimberly-Clark, Raytheon

Mukesh Buch
26 Jul, 2012
New York City

3M second quarter net edged up to $1.17 billion.Colgate-Palmolive second quarter net edged up 0.8% to $627 million. Dow Chemical net soared 73.5% to $982 million and Exxon Mobil second quarter net soared 48.6% to $15.9 billion.

U.S. Movers: CR Bard, Delta Air Lines, Hess, Southern, WellPoint

Mukesh Buch
26 Jul, 2012
New York City

CR Bard swung to second quarter profit and Delta Air Lines to $166 million loss. Hess second quarter net slid 9.6% on lower oil prices. Motorola Solutions operating earnings surged 75%.

Australian Stocks Higher; Sirius Soars, Coles Lifts Wesfarmers

Marcus Jacob
26 Jul, 2012
New York City

Australian stocks closed higher as investors focused on domestic earnings. Sirius Resources soared eight-fold and trading surged 100-fold after the company reported progress in mineral exploration. Caltex closed its refinery in Sydney.

U.S. Durable Orders Rise, Jobless Claims Fall; Exxon Net Soars 49%

Arthi Gupta
26 Jul, 2012
New York City

U.S. indexes advanced after durable goods orders increased in June and weekly jobless claims fell more than anticipated. United Technologies agreed to sell industrial products businesses for $3.46 billion. Exxon quarterly net soared 49%.