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U.S. Stocks Pare Losses; European Markets Weak

Bikram Pandey
13 Oct, 2011
New York City

U.S. stocks pared losses after tech stocks rallied and bond yields edged lower. Crude oil edged lower after the dollar gained against the euro. Gap Inc plans to cut 21% of its stores in North American Gap brand stores before 2013. Google revenues and earnings exceeded expectations.

U.S. Indexes Lower on Weak JP Morgan Earnings

Devan Biswas
13 Oct, 2011
New York City

U.S. stocks declined after JP Morgan said quarterly earnings dropped 33% and set aside $1 billion for securitized mortgage loans litigation. Investors turned cautious after European leaders suggested more losses for banks and said the rescue fund should be accessed as a last resort.

U.S. Movers: Commerce Bancshares, Fastenal, JPMorgan, Safeway, Wal-Mart

Mukesh Buch
13 Oct, 2011
New York City

Commerce Bancshares third quarter net income rose to $65.3 million. Fastenal third quarter net earnings rose 29% to $97 million. JPMorgan third quarter net income fell 4% to $4.3 billion. Safeway third quarter net income increased to $130.2 mn. Wal-Mart updated capital spending and sales forecast.

European Leaders Haggle on EFSF Use; Italy Sells

Nichole Harper
13 Oct, 2011
New York City

European markets declined as leaders work to settle differences in how to use the rescue fund. Germany and at least five other nations are demanding that the facility should be tapped only on the last resort and banks must seek capital in the financial markets first. Italy sold

Japan Stocks Rise on Machinery Orders Increse and Weaker Yen

Nigel Thomas
13 Oct, 2011
New York City

Stocks in Japan gained after machinery orders were better than expected. Exporters advanced after the yen closed down at one month low and financials gained after euro zone leaders promised quicker action to recapitalize banks.

Australian Dollar Higher, Unemployment Drops to 5.2%

Marcus Jacob
13 Oct, 2011
New York City

Australian stocks resumed the advance after the release of jobs data. The unemployment rate in September decreased to 5.2% from 5.3% in August. Rio Tinto said quarterly production of iron ore and coking coal increased but copper and alumina output fell.

S&P 500 Index Up 1%; World Markets Rebound

Bikram Pandey
12 Oct, 2011
New York City

The benchmark indexes in New York gained at least 1% and the Nasdaq flirted near a flat line for the year. Investors shifted focus from the euro zone turmoil to domestic earnings. Commodities gained but closed mixed.

U.S. Earning Outlook Powers 3-day Rally; Pepsi Up 3%, Liz Claiborne Soars

Nichole Harper
12 Oct, 2011
New York City

Wall Street opened higher following the gains in Europe and on positive domestic earnings expectations. PepsiCo, Inc gained 3% after it met lowered earnings outlook and Alcoa Inc fell 3% on an earnings miss. The Nasdaq index trimmed its losses for the year to 1.3% and the S&P 500 index to 3.5%.

U.S. Movers: Alcoa, Adtran, Host Hotels, Liz Claiborne, NeuStar, PepsiCo

Mukesh Buch
12 Oct, 2011
New York City

Alcoa third quarter net income increased 21% to $172 million. Liz Claiborne agreed to sell its brands to retailers J.C. Penney and Kohl''''s. PepsiCo third quarter net income rose 4% to $2 billion.

Europe's Industrial Production Up 1.2%; Record UK Unemployment

Devan Biswas
12 Oct, 2011
New York City

European markets rebounded and looked beyond Slovakia vote. Miners and industrial companies gained after August industrial production surged across the region from a year ago. German 30-year bond failed to attract investors and the ECB lent $1.35 billion in emergency loans to only six banks.

Thai Flooding Affect Japanese Automakers; Machinery Orders Soar 11%

Nigel Thomas
12 Oct, 2011
New York City

Japanese stocks declined and machinery order in August increased more than expected in August. Toyota and Honda reported widespread production stoppages in Thailand after a third of country is devastated by the flooding.

Australian Rally Halts; BHP Approves $1.2 Billion for Olympic Dam

Marcus Jacob
12 Oct, 2011
New York City

Australian stocks halted a 5-day rally after metals prices declined in overnight trading in world markets. BHP committed $1.2 billion in capital for the first phase of Olympic Dam project that will quadruple copper production. JB Hi-Fi quarterly comparable sales fell 3.5%.

Wall Street in Lackluster Trading; Slovakia Rejects Rescue Fund Expansion

Bikram Pandey
11 Oct, 2011
New York City

U.S. stocks drifted and investors digested promises of quick resolution to the banking recapitalization plan in the euro zone. Slovakian lawmakers rejected the measure to expand the rescue fund and also triggered the fall of the coalition government.

European Markets Drift; Slovak Decision in Focus

Devan Biswas
11 Oct, 2011
New York City

European markets closed lower as Slovakian lawmakers debate to approve the expansion of the European rescue fund. Greece said inspectors from troika completed the their mission and approved the release of sixth tranche of aid. A Ukrainian court convicted former prime minister Tymoshenko.

U.S. Movers: 99Cents, Dollar Thrifty, Mistras Group, Jones Apparel

Mukesh Buch
11 Oct, 2011
New York City

99Cents Only agreed to be acquired by Ares Management and Canada Pension Plan. Dollar Thrifty decided not to seek a buyer. The Jones Group confirmed the discussions with Israel based Delta Galil Industries to sell its Jeanswear division.

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