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Market Update

Wall Street in 5-day Rally, Home Prices Rise

Bikram Pandey
09 Aug, 2012
New York City

World markets were stable and stocks on Wall Street inched higher. A five-day rally in the S&P 500 index has lifted the index by 10%. Home prices advanced the most since 2006 in the second quarter. European markets added to 4-day gains.

Nikkei Flirts with 9,000 Mark, Nikon Drops 8%

Nigel Thomas
09 Aug, 2012
New York City

Stocks in Tokyo gained for the fourth day and the Nikkei index extended gains to 5% in the week and brushed the 9,000 level. Bank of Japan left its asset purchase program intact and interest rates on near zero. Nikon plunged 8% and extended losses for the second day after the earnings release.

Australian Dollar Inches to Record; Telstra Net Up, News Corp Swings to Loss

Marcus Jacob
09 Aug, 2012
New York City

Stocks in Sydney trading rested for the first time in a week after the latest statistics from China suggested decelerating growth rates. News Corp swung to a loss and Telstra reported its first annual profit increase in three years. Tabcorp profit declined.

U.S. Movers: Advance Auto Parts, Allscripts, Dillard's, Kohl

Mukesh Buch
09 Aug, 2012
New York City

Advance Auto Parts second quarter net declined 12% and Allscripts net plunged 49.6% but the company lifted annual outlook. Continental Resources second quarter net surged 69.6%. Dillard''s net jumped 76% and Kohl

U.S. Weekly Jobless Claims Fall, Deficit Narrows

Arthi Gupta
09 Aug, 2012
New York City

U.S. indexes struggled and trade deficit declined and weekly jobless claims fell. The euro declined for the third day in a row. China

Europe Movers: Aviva, Commerzbank, Nestle, Swiss Re

Arthi Gupta
09 Aug, 2012
New York City

Aviva swung to loss but Nestl

ECB Lowers Outlook, Greek Jobless Rate at 23%

Arthi Gupta
09 Aug, 2012
New York City

The European indexes edged lower after the ECB cut economic growth outlook. Greek jobless rate rose to record levels in May and the UK deficit widened and Italian surplus rose in June.

World Markets Meander, News Corp Writes Down Australian Assets

Bikram Pandey
08 Aug, 2012
New York City

Stocks on Wall Street meandered and earnings drove trading activities on both sides of Atlantic. News Corp writes down value of Australian newspapers and other assets by $2.8 billion. World markets await economic data from China and Bank of Japan decision later in the week.

Yen Falls After Current Account Surplus Grows; Nikon, Dainippon, Pioneer Down

Nigel Thomas
08 Aug, 2012
New York City

Stocks in Tokyo advanced higher for the third day and earnings announcement peak in the week. Nearly half of earnings missed expectations and investors dial back annual profit growth expectations. Nikon net plunges 49%.

Australian Stocks in 3-Day Rally, Rio Tinto Earnings Drop

Marcus Jacob
08 Aug, 2012
New York City

Australian stock trading was driven by the local earnings news and investors also pinned hopes on economic stimulus in the U.S. and Europe. Rio Tinto reported a decline in earnings as iron ore price began to slide. Telstra and Tabcorp scheduled to release earnings tomorrow.

U.S. Movers: Dean Foods Soars 34%, Rackspace Surges 11%, Orbitz Tumbles 26%

Sarla Buch
08 Aug, 2012
New York City

A123 Systems singed MOU with China based Wanxiang to invest $450 million. Alere second quarter net loss widens and Avnet net tumbled 44.1%. Dish Network second quarter net dropped 32.5% and HollyFrontier net quarter jumped 156.7% and Macy

Express Scripts, Walt Disney Rise; Icahn Enterprises, priceline Fall

Mukesh Buch
08 Aug, 2012
New York City

Express Scripts second quarter revenues net plummeted 48.8%. priceline net surged 37.4%. Icahn Enterprises quarterly net declined 17%. Sotheby

U.S. Labor Productivity Climbs, Indexes Struggle

Arthi Gupta
08 Aug, 2012
New York City

U.S. indexes struggled to trade higher and labor productivity rose more than estimated in the second quarter. PTC agreed to acquire Servigistics for $220 million. Dish Network quarterly net slumped 33%.

Europe Movers: BMW, Brenntag, Corio, Fraport, ING

Arthi Gupta
08 Aug, 2012
New York City

ING net fell 22% as provisions for loan losses increased but Brenntag sales rose 14.6% in the second quarter. Rio Tinto first-half profit declined 22%. BMW worldwide vehicle sales increased 5% in July.

BoE Lowers Growth Outlook, German Output Falls

Arthi Gupta
08 Aug, 2012
New York City

The European indexes fell on mixed earnings. The Bank of England cut growth outlook for the UK and French business sentiment dipped in July. DSM agreed to acquire Brazil-based Tortuga for about