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S&P 500 Rally of 1.6% Cuts Weekly Losses, World Markets Rebound

Bikram Pandey
13 Jul, 2012
New York City

U.S. indexes surged more than 1% and banks were in focus after JPMorgan said that the bank is still poised to have record annual earnings despite a trading loss of $4.4 billion. China reported economic growth slowed for the sixth quarter in a row but met the lowered expectations.

U.S. Movers: iGATE, JPMorgan, Lexmark Intl., Wells Fargo

Mukesh Buch
13 Jul, 2012
New York City

JPMorgan second quarter net declined 9% to $5 billion and restated first quarter net income. Lexmark cuts second quarter outlook. Wells Fargo second quarter net soared 17% to $4.6 billion and agreed to pay $175 million to settle racial biases in mortgage approval.

UK Indexes Extend World Gains

Arthi Gupta
13 Jul, 2012
New York City

The UK indexes gained after the Bank of England launched a scheme to boost lending to the economy. The UK leading index dropped 0.8% and Irish surplus rose slightly in May. Global indexes rose after China reported growth.

Nikkei Closes Higher in Volatile Trading, Dentsu Down 7%

Nigel Thomas
13 Jul, 2012
New York City

Stocks in Tokyo edged higher after China reported a raft of economic data that at least for now push aside the prospect of a global economic slowdown. Japan revised its industrial output rate to 3.4% in May. Dentsu 7% dropped on the worries that it may have overpaid for the Aegis purchase.

Wall Street Opens Higher; JPMorgan Lifts Trading Loss to $5.8 Billion

Arthi Gupta
13 Jul, 2012
New York City

U.S. indexes advanced after China reported slowing but strong GDP, industrial production and retail sales data. U.S. producer prices unexpectedly rose. JPMorgan quarterly net fell and withdrew its first quarter earnings. Wells Fargo earnings rose.

Australian Markets React Positively to 7.6% Growth in China

Marcus Jacob
13 Jul, 2012
New York City

Australian stocks rebounded after China reported strong but the slowest economic growth in the three years. Industrial production and retail sales matched the previous quarter data but construction declined. Resources linked stocks gained after commodities and the dollar edged up.

French Retail Sales Rebound, Spanish Inflation Flat

Arthi Gupta
13 Jul, 2012
New York City

French retail sales rebounded, Spanish consumer price inflation remained unchanged but Swiss producer and import price index fell in June. Hungarian output declined and Czech current account slipped to deficit in May.

Italian Auction Raises

Arthi Gupta
13 Jul, 2012
New York City

The European indexes gained after China reported GDP that met expectations. Italy sold

U.S. Deficit Widens in June, 9-month Shortfall Declines 6.7%

Arjun Dave
12 Jul, 2012
New York City

The Treasury Department said June deficit widened 38.7% to $59.7 billion. Revenues increased 4.2% and expenditures increase 9.3%. For the first nine months, the deficit declined 6.7% to $904.2 billion.

Record Low Mortgage Rates, Global Slowdown Worries Wall Street

Bikram Pandey
12 Jul, 2012
New York City

U.S. indexes struggled as investors feared that worldwide economic slowdown may dampen earnings of domestic companies. Infosys lowered its sales outlook. Grocery retailers dropped after SuperValu cut its dividend and plans to lower prices. Mortgage rates drop to a new low.

U.S. Movers: Chevron, Fastenal, Infosys, Marriott International, Supervalu

Mukesh Buch
12 Jul, 2012
New York City

Chevron lifted second quarter earnings outlook. Fastenal second quarter increased 19.3% to $112.3 million. Infosys first quarter net rose 8.3% to $416 million. Marriott International second quarter net grew 6% to $143 million.

UK Indexes Slump, Dentsu to Buy Aegis for

Arthi Gupta
12 Jul, 2012
New York City

The UK indexes slumped after home purchase loans rose in May. Irish economy shrunk in the first quarter and inflation eased in June. Aegis agreed to be acquired by Dentsu for

Nikkei Plunges 1.5% After BoJ Holds Firm

Nigel Thomas
12 Jul, 2012
New York City

Stocks in Tokyo fell for the sixth day in a row after the central bank held its asset purchase and lending program and offered less than expected aggressive response to revive the economy. The yen traded volatile. Asahi Glass plunged after it lowered its fiscal year operating earnings outlook.

U.S. Weekly Jobless Claims at 4-Year Low, Import Prices Decline

Arthi Gupta
12 Jul, 2012
New York City

U.S. indexes rose after weekly jobless claims fell, import prices declined in June and foreclosure activity dropped in the first-half. Japan-based Dentsu agreed to acquire UK-based Aegis Group for $4.9 billion.

Australian Employers Cut 22,700 Jobs, Stocks in 6-Day Slump

Marcus Jacob
12 Jul, 2012
New York City

Australian indexes turned lower for the sixth day in a row after local employers cut 22,700 jobs in June and unemployment increased to 5.2%. The dollar edged lower ahead of GDP data from China tomorrow.

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