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Wall Street Indexes Down 1.5%, U.S. Jobless Rate Rises to 8.2%

Devan Biswas
01 Jun, 2012
New York City

Wall Street extended losses after employers added 69,000 jobs in May and unemployment increased to 8.2%. The weather played a significant role in pulling forward jobs in warm winter months. Consumer spending and income rose in April and European markets dropped 2% as Spain struggled with finances.

Manufacturing in Europe Weakens and Unemployment Nears 11%

Arthi Gupta
01 Jun, 2012
New York City

The European indexes slumped after mmanufacturing dropped to a 3-year low in May but euro area jobless rate was stable in April. The IMF was forced to deny rumors that Spain requested direct assistance and UK growth forecast was lowered.

Global Markets Plunge Between 6% and 12% in May

Bikram Pandey
31 May, 2012
New York City

Wall Street delivered one of the worst monthly performances in the last three years as global markets dropped, the euro declined and oil and gold fell. S&P 500 index declined 6.3%, Indexes in Europe fell more than 6% and Nikkei slumped 10.2%. Gold eased 6% and oil dropped 17.5% in the month.

ECB President Draghi Warns of Unsustainable Euro Zone Structure

Arjun Dave
31 May, 2012
New York City

ECB President Mario Draghi offered his sharpest and direct criticism of political leaders in the euro zone and said half-measures and delays by political leaders have made the crisis worse. He also urged to regulate large banks at the European level and set up a deposit insurance fund.

U.S. Movers: Ciena, Joy Global, Lions Gate, Movado, Monsanto, TiVo

Mukesh Buch
31 May, 2012
New York City

Ciena second quarter net loss narrowed to $27.8 million and Joy Global second quarter net soared 32% but it cut its fiscal outlook. Movado first quarter net surged more than twelve-fold and raised fiscal 2013 view. Monsanto updated third quarter and fiscal guidance.

European Leaders Step Up Pressure on Germany, CGI Acquires Logica

Arthi Gupta
31 May, 2012
New York City

The European indexes trimmed gains after inflation eased, German jobless rate fell and consumer confidence rose in UK. Canada-based CGI agreed to acquire Logica for

U.S. Growth Rate Lowered, Weekly Jobless Claims Rise

Devan Biswas
31 May, 2012
New York City

U.S. stocks traded sideways after the latest reports on jobs market indicated slow and uneven recovery. The first quarter GDP growth was revised lower to 1.9% and corporate profits in the period rose at the slowest pace in thirteen quarters.

Nikkei Falls 10.3% in May, Japanese Bonds at 9-Year Low

Nigel Thomas
31 May, 2012
New York City

Stocks in Tokyo closed down and finished May with a loss of 10.3%, the worst monthly decline in the last two years. The yen gained and bond yields dropped after euro zone stress drove investors to the safety of few select governments bonds. Nuclear utilities operators rose on the prospect of restart

Australian Dollar Down 7%, Bond Yields at Record Lows

Marcus Jacob
31 May, 2012
New York City

Australian markets finished the worst month in several years with a loss of 7.3% in the benchmark index on the rising stress in euro zone and lowered growth expectations in China and India. South Australia government debt rating was lowered. Echo Entertainment agreed to a shareholder meeting.

Financial Stress: Record Yields in U.S., Switzerland, UK and Germany

Bikram Pandey
30 May, 2012
New York City

World markets extended losses and the euro fell to a 2-year low as investors prefer bonds of U.S., Germany, UK, Switzerland and Japan. Swiss bond yields turned negative at the latest auction and the U.S. bond yields fell to record low as Spanish yields jumped to a record since joining the euro.

U.S. Movers: Booz Allen, CorVel, Copart, Daktronics, Teavana, Fresh Market

Mukesh Buch
30 May, 2012
New York City

Booz Allen fourth quarter net surged nearly three-fold to $50.6 million. Copart third quarter increased 11% to $55.5 million. Jos. A. Bank Clothiers first quarter net declined 17% and RBC Bearings fourth quarter net soared 57.4%. Fresh Market first quarter net surged 43%.

Wall Street Tracks Lower European Markets, RiM Plunges 10%

Arjun Dave
30 May, 2012
New York City

Stocks in New York fell after European markets eased and bond yields of Spain reached a new high. Pending home sales fell in April. Research in Motion plunged 10% after it estimated operating loss and hired bankers for a strategic review. Apple chief confirmed the interest in building a TV device.

Nikkei in Tokyo Recovers from 1% Fall; Olympus, Renesas Rise

Nigel Thomas
30 May, 2012
New York City

Stocks in Tokyo recovered from the early decline of 1% in the Nikkei index but Spain and the euro zone worries dragged market sentiment. Olympus soared 5% on the speculation that it may seek capital from Panasonic or Sony and Renesas Electronics rebounded 27% after losing half its value this month.

Retail Sales Decline in Australia Drag Dollar

Marcus Jacob
30 May, 2012
New York City

Australian stocks closed lower on international worries after Chinese press agency confirmed that the government is not planning additional stimulus. The dollar fell after April retail sales declined. Resource stocks were volatile after weak commodities prices as the euro fell to a 2-year low.

Euro Crisis Deepens as Bank of Spain Governor Resigns

Arthi Gupta
30 May, 2012
New York City

The European indexes extended losses as Spanish bond yield rose to a record high since joining the euro. Italy raised

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