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U.S. Stocks Up; 7 Banks Fail Test in Europe

123jump.com Staff
23 Jul, 2010
New York City

U.S. stocks traded higher and on positive earnings and optimism for the second half. McDonald

UK Indexes Fall; GDP Expands 1.1%

Arthi Gupta
23 Jul, 2010
New York City

The UK indexes decline ahead of the European bank stress test. The UK GDP expands 1.1% in the second quarter, mortgage approvals drop in June, and service output sector rises in May. Irish trade surplus expanded in May. BP stalls relief well activities at well site due to adverse weather conditions.

Sensex Gains; India Tax Reforms

Chandrasekhar Atreya
23 Jul, 2010
New York City

Stocks in Mumbai traded higher. RBI allows refinancing of the rupee loans. Finance Minister says the successful implementation of GST will boost India

Chipotle Mexican Grill Gains; Amazon Falls

Mayank Mehta
23 Jul, 2010
New York City

AmeriCredit Corp. led gainers in the S&P 500 index with a rise of 2.6%. Microsoft tops views with 48% profit gain. American Express quarterly net income touches $1 billion. Amazon earnings jump 46% in second quarter. Capital One swings to quarterly net income $608 million.

European Markets Rally; Bank Stress Tests

Arthi Gupta
23 Jul, 2010
New York City

The European markets continued their fourth-day rally. Investors are awaiting the bank stress tests results to be released by European Union regulators later today. Moody

U.S. Stocks Gain; Ford, Schlumberger Net Rise

Arthi Gupta
23 Jul, 2010
New York City

U.S. stocks trade higher after positive earnings momentum and global economic data. The House of Representatives approved the extension of the unemployment benefits. BP suspends relief well drilling operations as Tropical Storm Bonnie nears the Gulf of Mexico.

Shanghai, HK Rally; Everbright Bank IPO

Chandrasekhar Atreya
23 Jul, 2010
New York City

Stocks in China rallied and gained 6% for the week. PBOC wants to peg yuan to a basket of currencies. China Everbright Bank is planning a large IPO in Shanghai. China makes a three year currency swap agreement with Singapore. Real Estate online firm SouFun is planning a large U.S float.

Nikkei Rebounds 2.3% on U.S. Gains

Chandrasekhar Atreya
23 Jul, 2010
New York City

Nikkei gained after six days of weakness on better than expected U.S. earnings. Sumitomo

Sydney Gains; Australia Sells $800 M Bonds

Chandrasekhar Atreya
23 Jul, 2010
New York City

Stocks in Australia gained after world markets surged and U.S. and European indexes gained at least 2%. NAB finds a buyer for North platform of Axa Asia Pacific. NSW plans to sell its waste water management unit. Cougar Energy lays off workers. Sandfire sells stake to Korea

World Markets Rally; Dow Soars 2%

Arthi Gupta, Mayank Mehta and Sanjay Barot
22 Jul, 2010
New York City

U.S. indexes surged after Caterpillar, eBay, United Parcel Services Inc and AT&T reported better than expected earnings. Earnings in Europe also were ahead of expectations. Crude oil and gold led the rally in commodities markets. Market indexes in Europe, Latin America and U.S. soared more than 2%.

Sydney Stocks Decline; Resource Tax in Focus

Chandrasekhar Atreya
22 Jul, 2010
New York City

Stocks in Australia traded lower on the weakness in banks and cautious outlook on the economy. Business confidence in Australia plunges in June quarter. Dart Energy starts trading in Sydney. Billabong seeks $800 million syndicated banking facility.

5-Day Drop in Nikkei; Yen Rise Worries

Chandrasekhar Atreya
22 Jul, 2010
New York City

Stocks in Japan fell for the fifth day in a row hurt by a stronger yen. Policy makers express concern about the recent rise in yen. Elpida Memory and Spansion Inc renew a five year agreement. Finnowave Investments aims to quadruple assets in its hedge fund.

China Region Stocks Rally; Motorola Sues Huawei

Chandrasekhar Atreya
22 Jul, 2010
New York City

Stocks in China rallied for the fourth day. Baidu estimated third quarter revenue to surge 77%. Motorola sues rival Huawei for stealing trade secrets. Dalian oil spill extends leading to closing of beaches on Yellow Sea. Corning plans to invest $800 million in a factory in Beijing.

Sensex Gains; India Seeks BP Vietnam Stake

Chandrasekhar Atreya
22 Jul, 2010
New York City

Stocks in Mumbai gained led by steelmakers. The latest read on inflation shows a double digit increase. India looks to buy BP stakes in Vietnam. Power Grid gets the ministers nod for 20% stake sale. Dabur is in talks with Turkey

U.S. Stocks Gain; GM to Buy AmeriCredit

Arthi Gupta
22 Jul, 2010
New York City

U.S. stocks rebounded after eBay profit soared 26%. Federal Reserve Chairman Ben Bernanke said that the outlook for the economy is ""unusually uncertain."" President Barack Obama signed into law the Financial Regulation Reform Bill. U.S. weekly jobless claims rise 37,000 to 464,000. GM agrees to acquire AmeriCredit for $3.5 billion.

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