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Market Update

S&P Gains 1.9% in August, Gold Advances to 4-Month High

Bikram Pandey
31 Aug, 2012
New York City

U.S. indexes traded higher after Fed Chairman Bernanke laid out a case for additional stimulus but did not offer specific steps. He also highlighted that elevated unemployment is likely to persist. Broader market averages in New York gained for the third month in a row.

Bernanke Outlines a Case for Additional Stimulus

Devan Biswas
31 Aug, 2012
New York City

Fed Chairman offered a forceful case for additional measures to support economic growth and improve labor markets but fell short of specifics and a clear timetable. Markets are anticipating news measures to kick in at the next meeting on September 12.

Nikkei Nears One-Month Low, Industrial Production Falls 1.2%

Nigel Thomas
31 Aug, 2012
New York City

Market indexes in Tokyo traded lower and the benchmark index fell to a one-month low after industrial production declined in July. The consumer price index barely increased stoking fears of deflation. Machinery makers fell for the second week on the worries of falling orders from mining companies.

U.S. Movers: Esterline Technologies, Gordmans Stores, OmniVision, Carlyle

Mukesh Buch
31 Aug, 2012
New York City

Esterline Technologies reported quarterly loss. Gordmans Stores net jumped 21% on flat comparable sales. OmniVision net tumbled 95% and SAIC net plunged 38%.

Australian Stocks Flat, Harvey Norman Net Falls

Marcus Jacob
31 Aug, 2012
New York City

Australian stocks were generally quiet as the earnings season winds down and investors await the release of economic data from China this weekend. Resource sector stocks were in focus on the prospect of profit decline. Harvey Norman, the retailer reported full-year net declined.

UK Confidence Flat, Home Prices Fall

Arthi Gupta
31 Aug, 2012
New York City

The UK market indexes advanced and consumer confidence index remained unchanged and home prices declined in August. Computacenter first-half group revenue rose 4.2% to

Wall Street Surges on Euro Hopes, Bernanke Speech Looms

Arthi Gupta
31 Aug, 2012
New York City

U.S. indexes shot up at the opening on the prospect of new actions from the ECB. Investors are focused on the world meeting of central bankers where the Federal Reserve Chairman Ben Bernanke is scheduled to speak later today. SAIC planned to separate into two publicly traded companies.

Europe Movers: Essilor, Lagardere, Vivendi

Arthi Gupta
31 Aug, 2012
New York City

Essilor revenue climbed 23% and profit advanced 16.4% in the first-half. Lagardere first-half net income rose to

Spanish Capital Outflow Picks Up, European Markets Cautious

Arthi Gupta
31 Aug, 2012
New York City

The European indexes were generally flat after inflation in the region rose to 2.6% and jobless rate inched up to a record high of 11.3%. Spanish current account deficit fell in June but net capital outflow from the banking system accelerated.

Euro Zone Inflation Rises, German Retail Sales Drop

Arthi Gupta
31 Aug, 2012
New York City

Euro zone inflation climbed to 2.6% in August. Jobless rate in the euro area rose to a record 11.3%, German retail sales declined unexpectedly and Italian jobless rate stable in July.

Spanish Bailout in Slow Motion, Carlyle Keeps the Deal Offensive

Bikram Pandey
30 Aug, 2012
New York City

World markets were on the defensive after latest economic data from the euro zone, Japan, South Korea showed more weakness and the U.S. personal spending rose the most in five months and income gained for the eighth month in a row. Carlyle keeps the offensive in deal making.

U.S. Movers: Ciena, Costco, Greif, Pandora Media Royal Bank of Canada

Mukesh Buch
30 Aug, 2012
New York City

Bio-Reference declined but net soared 25%. Networking gear maker Ciena declined on weak sales outlook. Costco reported sales increase in August. Greif net declined 39% and lowered fiscal outlook. Pandora Media jumped.

UK Mortgage Approvals Rise, Barclays Appoints New Chief

Arthi Gupta
30 Aug, 2012
New York City

The UK indexes slid in listless trading and mortgage approvals rose in July. Accenture agreed to acquire Singapore-based NewsPage. Barclays appointed Antony Jenkins as a director and chief executive. JJB Sports plunged 82% after deciding to seek a buyer.

First Monthly Retail Sales Decline in Japan, Nikkei Drops 1%

Nigel Thomas
30 Aug, 2012
New York City

The benchmark index in Tokyo declined 1% after retail sales fell in July and on a decelerating auto sales growth and stagnant wages. Construction machinery stocks declined after iron ore prices fell to the low last seen in 2009.

U.S. Jobless Claims Flat, Carlyle Purchases DuPont Unit for $4.9 B

Arthi Gupta
30 Aug, 2012
New York City

U.S. indexes fell after weekly jobless claims remained unchanged at 374,000 and personal income rose in July. Carlyle Group agreed to purchase DuPont Performance Coatings for $4.9 billion. Darden Restaurants completed acquisition of Yard House USA.