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Market Update

Wall Street Extends Global Rally With 2% Advance

Bikram Pandey
29 Jun, 2012
New York City

Stocks on Wall Street surged after European leaders offered emergency steps to support direct bank lending and passed stimulus measures. Commodities led the surge and crude oil soared 9% and gold gained 3%. For the week, the S&P 500 index gained 1.6%.

U.S. Extends World Markets Rally on European Agreement

Arthi Gupta
29 Jun, 2012
New York City

U.S. indexes extended global rally after European leaders agreed to emergency steps and extend direct lending to Spanish banks and pass stimulus measures. Research in Motion planned to slash 5,000 jobs after it reported sales decline, losses and worsening cash position.

U.S. Movers: Accenture, KB Home, Nike, RiM, Tibco

Mukesh Buch
29 Jun, 2012
New York City

Accenture third quarter net increased 11% and narrowed fiscal earnings guidance. KB Home second quarter net loss narrowed. Nike fourth quarter net slid 8% to $549 million. Research In Motion swung to a quarterly loss.

Australian Markets Rally, David Jones Soars 15% on Takeover Rumbles

Marcus Jacob
29 Jun, 2012
New York City

Australian benchmark index gained 1.2% as rally across Asia lift markets after European leaders agreed to offer direct lending to banks and approved stimulus program. David Jones soared 15% after a hostile takeover offer of $1.5 billion.

Short Covering Rally Lifts Nikkei for the Second Day, Nomura Up 4%

Nigel Thomas
29 Jun, 2012
New York City

Japanese stocks extended gains for the second day as short sellers covered positions and international investors increased exposure to domestic stocks. Nikkei gained 1.5% on Friday but fell 10.7% in the quarter, worst since the third quarter of 2011.

Europeans Agree to Lend to Banks, InBev to Buy Modelo

Arthi Gupta
29 Jun, 2012
New York City

European markets staged a rally after leaders agreed to use rescue funds to lend directly to banks and approved

EU Summit, Healthcare Decision Cast Shadow on Wall Street Trading

Bikram Pandey
28 Jun, 2012
New York City

Stocks on Wall Street closed lower on the weakness. U.S. Supreme Court

Supreme Court in 5-4 Decision Upholds Healthcare Reform

Arjun Dave
28 Jun, 2012
New York City

U.S. Supreme Court upheld in a landmark decision by a 5-4 vote most of the key provisions of the healthcare reform that divided the nation for the last two years. The decision will not allow the law to be implemented as early as 2014.

U.S. Movers: American Greetings, Family Dollar, Paychex, Worthington

Mukesh Buch
28 Jun, 2012
New York City

Healthcare insurers dropped sharply after the Supreme Court upheld the healthcare reform. American Greetings first quarter net tumbled 78%. Family Dollar third quarter net increased 5.3% to $124.5 million and lifted fiscal outlook. Paychex fourth quarter net increased 4%.

U.S. Jobless Claims Drop, JP Morgan Losses May Rise to $9 Billion

Arthi Gupta
28 Jun, 2012
New York City

U.S. indexes declined after the government confirmed 1.9% growth in the first quarter and weekly jobless claims fell 6,000 to 386,000. News Corp said to plans to split in two companies.

Nikkei Jumps 1.6%, Japanese Retail Sales up 3.6%

Nigel Thomas
28 Jun, 2012
New York City

Stocks in Tokyo advanced and the benchmark Nikkei jumped 1.6% to close at a six week high. Retail sales in May increased at a slower pace than in April but were ahead of expectations. Institutional investors increased exposure to domestic stocks.

Australian Stocks Lose Early Gains, News Corp to Split

Marcus Jacob
28 Jun, 2012
New York City

Australian indexes lost most the gains of the day in late afternoon as the prospect of an outcome from the meeting of European leaders. News Corp said it will separate its news and entertainment operations. Caltex gained on higher profit estimate.

Spanish Yield Above 7%, European Leadership Division Deepens

Arthi Gupta
28 Jun, 2012
New York City

The European indexes slumped ahead of the EU summit. Italy raised

Wall Street Advances on Orders, Housing Data; World Markets Cautious

Bikram Pandey
27 Jun, 2012
New York City

U.S. stocks advanced after durable goods orders rose for the first time since February and pending home sales increased. The pace of improvement though small and halted supported market enthusiasm on the rising merger activities.

Barclays Fined $450 Million for Manipulating Libor

Devan Biswas
27 Jun, 2012
New York City

UK based Barclays agreed to pay fines of more than $450 million to the U.S. and UK regulatory authorities after the bank admitted to manipulating the Libor, the London interbank offered rate and Euribor.