ticker

U.S. Retail Sales Rise, Wholesale Price Index Falls

Mukesh Buch
15 Jan, 2013
New York City

Retail sales in December were ahead of expectations after consumers overlooked Washington gridlock and the prospects of future tax increase. Reported wholesale price index declined for the third month in a row, however the index does not capture the broader prices increases in the service sector.

Obama Hints Firmer Tone in Debt Talks, Fed Estimate Improving Economy

Bikram Pandey
14 Jan, 2013
New York City

Stocks struggled in New York and merger deals drove market sentiment in Europe. President Obama hinted firmer tone in the next debt ceiling negotiations and Fed official estimated accelerating economic growth in the next two years. UPS abandoned its $6.9 billion deal to but TNT Express.

European Output Declines For Third Month, Markets Struggle

Barry Randall
14 Jan, 2013
New York City

European markets were weak across the region but merger activities lifted larger markets. Industrial production declined 3.7% in November, third monthly decline in a row.

Europe Movers: France to Pay

Nigel Thomas
14 Jan, 2013
New York City

TNT Express plunged after UPS abandoned its offer for the parcel delivery company. Swatch Group gained 4% after it agreed to acquire luxury watch unit of Harry Winston. Saint Gobain gained after it received an offer for its glass division in North America.

Apple Speculation Drags U.S. Indexes

Nichole Harper
14 Jan, 2013
New York City

Stocks in New York traded lower ahead of comments from Fed officials. Tech stocks led the decliners on the speculation of weaker-than-expected demand for popular phones from Apple. UPS withdrew its offer for TNT Express.

Australian Home Loans Approvals Fall, Credit Card Balance Fall Record 2.3%

Marcus Jacob
14 Jan, 2013
New York City

Australian stocks trimmed gains and new home loans approvals declined in November. Job advertisements fell for the tenth month in a row as businesses restrain from hiring on record strength in the dollar. Consumers repay debt to lower debt and repair personal balance sheet.

UPS Withdrew $6.9 billion TNT Offer, Harry Winston Sells Watch Unit

Mukesh Buch
14 Jan, 2013
New York City

Harry Winston agreed to sell its watch division to Swatch Group for $750 million. PPG Ind said fourth quarter net climbed 5%. UPS withdrew its $6.9 billion offer for TNT Express. V.F. Corp and Altamont offered to acquire Australia based Billabong for $555 million.

India Movers: Jaiprakash Power Swings to Loss, TCS Up 3.5%

Mukesh Buch
14 Jan, 2013
New York City

Jaiprakash Power third quarter net loss swung to a quarterly loss. JSW Steel said third quarter steel production increased 8%. Petronet LNG third quarter climbed 7.8% and Tata Consultancy Services net profit in the quarter grew 3.5% to nearly $700 million.

World Markets Stall Near 2-Year High, U.S. Trade Deficit Jumps

Bikram Pandey
11 Jan, 2013
New York City

U.S. and world markets hovered near 22-month high and U.S. trade deficit in November widened on global economic recovery. Banks were in focus ahead of earnings next week. The euro traded at a 2-month high. Japan embarked on the largest stimulus since 2008 and inflation in China gained momentum.

U.S. Indexes Struggle, Wells Fargo and Banks in Focus

Nichole Harper
11 Jan, 2013
New York City

U.S. indexes rebounded from the low in the first hour of trading and banks struggled. Wells Fargo reported 24% increase in earnings supported mortgage loans business but net interest margin suffered. Boeing declined after two more flights in Japan report problems.

Europe Movers: Nokia, BHP Billiton, SAP, CAP Gemini

Nigel Thomas
11 Jan, 2013
New York City

Nokia extended gains for the second day on the hopes that the new smartphone will lift last quarterly results. Resource sector stocks eased after China reported higher than expected inflation. SAP AG released new business software to automate processes.

Italian Bond Auction at Lower Yield, Euribo Changes Recommended

Nigel Thomas
11 Jan, 2013
New York City

European markets closed mixed and Italy completed the sale of

Nikkei in 9th Weekly Advance on Stimulus Plan and Central Bank Pressure

Nigel Thomas
11 Jan, 2013
New York City

Stocks in Tokyo closed higher and closed the ninth weekly advance in a row, the longest weekly increases since 1988. Prime Minister Shinzo Abe proposed $115 billion of stimulus plan and demanded central bank to put maximizing employment on top of its agenda.

U.S. Movers: Hurco, KBR, Synnex, Voxx, Wells Fargo

Mukesh Buch
11 Jan, 2013
New York City

Hurco fourth quarter net climbed 52%. KBR lowered its fiscal 2012 earnings guidance. Synnex third quarter net declined 13% to $43.6 million. Voxx third quarter net soared 48% and Wells Fargo fourth quarter net surged 24% to $5.1 billion.

Strengthening Cyclone Worries Miners in Western Australia

Marcus Jacob
11 Jan, 2013
New York City

Australian stocks closed lower and the dollar traded near its three months high. Mining companies fell after a storm approached near Western Australian ports threatening mine closures and iron ore shipment disruptions.

Market Update