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U.S. Indexes Higher After a Wild Week

Bikram Pandey
12 Aug, 2011
New York City

The U.S. indexes jumped higher for the second day in a row after a turbulent week that saw indexes bounce up and down over 4%. For the week, the S&P 500 index fell 1.7%, declined 9% in the month and dropped 6% in the year so far.

U.S. Movers: DeVry, J. C. Penney, Molycorp, Nordstrom, Nvidia, Progressive

Mukesh Buch
12 Aug, 2011
New York City

DeVry fourth quarter net income increased 5% to $75.2 million. J. C. Penney reported second quarter net income flat to $14 million. Nordstrom second quarter net income increased 20% to $175 million. Nvidia second quarter net income rose to $151.6 million.

UK Limps Back to Normalcy; Construction Output Grows 2.3%

Arthi Gupta
12 Aug, 2011
New York City

The UK indexes rose led by banks. Normality returned in the UK after four days of arson and looting. France, Italy, Spain and Belgium banned short-selling of financial stocks. The UK construction output grew 2.3% in the second quarter, more than the initial estimate.

U.S. Stocks Rise on Retail Sales Data; France, Japan GDP Weak

Arthi Gupta
12 Aug, 2011
New York City

U.S. indexes gained after retail sales rose 0.5% in July. France, Italy, Spain and Belgium banned short-selling of financial stocks. The French economy recorded zero growth in the second quarter. The EU/IMF approved

Japan Lowers Economic Outlook; Banks, Autos Down

Nigel Thomas
12 Aug, 2011
New York City

Stocks in Japan fell and the Nikkei index dropped 3.6% after a volatile week of trading. The government lowered its economic outlook in the current year to 0.5% from 1.5% on the persistent supply chain and production problems after the earthquake and power shortage. Banks are down 20% in the year.

Euro Area Output Decelerates; French Economy Stagnates

Arthi Gupta
12 Aug, 2011
New York City

Euro area industrial output decelerated in June. French economy remained flat but payroll employment rose in the second quarter. Spain inflation slowed to 3.1% in July. Hungary industrial output slowed and Italian deficit narrowed in June.

Europeans Ban Short Selling; Bauer, ThyssenKrupp Net Fall

Arthi Gupta
12 Aug, 2011
New York City

European indexes traded higher after France, Italy, Spain and Belgium banned short-selling of financial stocks. The French economy recorded zero growth in the second quarter prompting worries of credit rating. ThyssenKrupp quarterly net declined 22%.

Australian Index in Weekly 1.6% Gain, Dollar Eases

Marcus Jacob
12 Aug, 2011
New York City

Australian stocks traded higher and after a week of volatile trading closed up 1.6%. The benchmark index is down 12% in the year so far and 16% lower from its peak in April. The index inched near 5,000 in April of 2010 and 2011 but failed to reach the psychologically important milestone.

Another Swing Turns Up S&P 500, Nasdaq 4.7%

Bikram Pandey
11 Aug, 2011
New York City

The U.S. indexes soared more than 4% after weekly jobless claims declined below 400,000 and trade deficit was smaller than expected. Cisco Systems earnings and revenues contributed to the surge in tech stocks. Banks rallied and gold declined.

U.S. Movers: Cisco, Kohl

Mukesh Buch
11 Aug, 2011
New York City

Cisco Systems fourth quarter net income declined 36.3% to $1.2 billion. Kohl

UK Offers Weak Response to 4-day Riots; Home Repossessions Fall

Arthi Gupta
11 Aug, 2011
New York City

The UK government struggles to offer a unified response to 4-day riots in several cities as fear grips residents. The UK leading index remained flat in June and mortgage repossession declined in the first-half. Irish inflation remained steady in July.

U.S. Jobless Claims Drop, Deficit Widens; Cisco Net Falls 36%

Arthi Gupta
11 Aug, 2011
New York City

U.S. indexes rebounded after weekly jobless claims fell 7,000 to 395,000, foreclosure filings declined in July, and deficit widened in June. Cisco quarterly net slumped 36% on restructuring charges.

Nikkei Resumes Slide; Gree Earnings Ahead

Nigel Thomas
11 Aug, 2011
New York City

Stocks in Tokyo declined on the euro-zone worries after French banks plunged more than 10%. The yen firmed and Japanese banks fell to their lowest level in the year with three leading banks trading down 20%. Gree, the social network operator soared on better than expected earnings.

Greek Unemployment at 16.6%; German Wholesale Inflation 8.2%

Arthi Gupta
11 Aug, 2011
New York City

German wholesale inflation eased in July. Greek jobless rate surged 16.6% in May and import price annual inflation rose in June. Czech current account deficit narrowed in June.

French Banks Extend Losses; Zurich Financial Net Soars 88%

Arthi Gupta
11 Aug, 2011
New York City

European indexes fell on the second day on the growing worries of the French credit rating. Societe Generale, BNP Paribas and Credit Agricole extended losses for the second day. German wholesale inflation fell in July. Daimler, Rolls Royce secure 95% of Tognum. Zurich Financial net surged 88%.

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