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Market Update

Five-day Stock Rally Halts in New York; Gold Plunges 3.4%

Bikram Pandey
14 Mar, 2012
New York City

U.S. indexes rested after advancing for five days in a row that sparked a world markets rally. Banks were in focus after Fed released results of the latest stress test. Gold dropped more than 3% but crude oil hovered $100 in New York trading.

U.S. Movers: AAON, Blyth, FXCM, Guidewire Software, LSI Corp.

Mukesh Buch
14 Mar, 2012
New York City

Blyth fourth quarter net increased 17% to $25.6 million. Central Vermont fourth quarter net fell to $5.1 million. Encyclopedia Britannica discontinue its printed edition. FXCM fourth quarter net grew to $21 million. Progressive Corp. February net income declined 7% to $106.3 million.

UK Jobless Claims Climb, Unemployment Rate at 8.4%

Arthi Gupta
14 Mar, 2012
New York City

The UK indexes advanced tracking U.S. and European markets. The number of people claiming jobless allowance in the UK rose more than estimated in February. Tullow fiscal 2011 sales and pre-tax profit surged. Legal & General soared 5.4%.

Nikkei Above 10,000, Yen Drops to 10-month Low

Nigel Thomas
14 Mar, 2012
New York City

The benchmark index Nikkei in Tokyo jumped 1.5% and closed above 10,000 for the first time in seven months. Weakening yen and improving U.S. economic outlook lifted the index as fund managers prepare for the end of fiscal year.

U.S. Deficit Widens, Import Prices Rise; World Markets Rally

Arthi Gupta
14 Mar, 2012
New York City

U.S. indexes traded sideways after mortgage applications fell for the fifth consecutive week, current account deficit widened in the fourth quarter, and import prices rose in February. Chesapeake to develop the largest integrated midstream services complex in eastern Ohio for $900 million.

Australian Indexes at 2-week High; New Home Starts Drop 12.8%

Marcus Jacob
14 Mar, 2012
New York City

Australian stocks traded near a 2-week high following a rally in international markets. New home starts fell sharply in the final quarter and for all of 2011 dropped 12.8%. Fortescue Metals Group plans to raise $1 billion in a bond offering to fund expansion.

Euro Area Inflation at 2.7%; Swiss Sentiment Improves

Arthi Gupta
14 Mar, 2012
New York City

The euro area annual inflation remained flat in February but industrial output rebounded in January. Swedish jobless rate fell in February. Swiss sentiment improved in March.

Greece Wins Bailout; Italian Bond Yields Fall in Auction

Arthi Gupta
14 Mar, 2012
New York City

European indexes extended gains after euro area countries approved a second bailout package for Greece today. Fitch upgraded Greece''s long-term foreign and local currency debt ratings. Italy sold

Fed Views Extends Rally in Stocks, Nasdaq Above 3,000

Bikram Pandey
13 Mar, 2012
New York City

U.S. indexes gained nearly 2% after retail sales confirmed the improving economic climate and Fed offered mildly positive assessment. Copper and commodities advanced. The tech heavy Nasdaq trades at a new high since 2000 and the narrow Dow index reaches the high not seen since December 2007.

UK Home Prices Rise, Deficit Widens; Prudential Net Up 33%

Arthi Gupta
13 Mar, 2012
New York City

The UK indexes advanced after home prices rose in February and trade deficit widened, leading economic index climbed and Irish factory output declined in January. Prudential fiscal 2011 pre-tax profits surged 33%.

U.S. Movers: Clean Energy, FactSet Research, Raven Industries, X-Rite

Mukesh Buch
13 Mar, 2012
New York City

Clean Energy fourth quarter net loss swung to $20.9 million. FactSet Research second quarter net grew 3.3% to $46.7 million. Raven Industries fourth quarter net surged 49% to $11.0 million.

Nikkei Pares Gains; BoJ Offers Dollar Loans

Nigel Thomas
13 Mar, 2012
New York City

Stocks in Tokyo trading trimmed gains after the central bank left its asset purchase program intact and offered loans in the U.S. dollars denomination. Auto headlights makers declined on the price fixing investigation.

U.S. Retail Sales Rise at Fastest Pace in Five Months

Arthi Gupta
13 Mar, 2012
New York City

U.S. indexes traded higher after retail sales rose 1.1% in February, the fastest pace in five months. European markets were calm after Greece inches closer to winning the second bailout package. Dell agreed to acquire SonicWALL.

Broad Rally Lifts Australian Indexes; Home Buyers Resist Purchase

Marcus Jacob
13 Mar, 2012
New York City

Australian stock indexes gained after struggling for three days in a row. Loans issued to the home buyers in January declined 2.3% as new home buyers stay away from making purchase commitment.

German Sentiment at 21-Month High; French Inflation Up

Arthi Gupta
13 Mar, 2012
New York City

German confidence improved to a 21-month high in March. French consumer prices rose and Italian and Spanish inflation in February matched previous estimates. Greek import price inflation soared and Dutch surplus rose in January.