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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%.

Australian Markets Flat; Unemployment Rises to 5.1%

Marcus Jacob
11 Aug, 2011
New York City

Stocks in Australia seesawed all day and closed nearly unchanged after bargain hunters searched for values amid a weakening global economic backdrop. July unemployment rose to 5.1% from 4.9% in June. David Jones lowered its earnings outlook and reported weak quarterly sales.

U.S. Indexes Plunge 4.5% on French Bank Worries

Bikram Pandey
10 Aug, 2011
New York City

U.S. indexes plunged more than 4% erasing all the gains of one-day rally. Nervous market dragged stocks lower on the growing belief that the economy may be sliding towards recession. Banks in Europe and the U.S. declined on the worries that France may have to bailout its banks. Gold gained 3%.

U.S. Movers: Avnet, Cree, Macy's, Polo Ralph, Rovi, Walt Disney

Mukesh Buch
10 Aug, 2011
New York City

Capital One agreed to acquire HSBC

UK Growth Outlook Lowered; Interserve, Standard Life Net Rise

Arthi Gupta
10 Aug, 2011
New York City

The UK indexes slumped after the Bank of England trimmed its growth and inflation outlook. UK riots expand to three more cities on the fourth day. Ireland industrial production declined in June and new car registrations fell in July. Standard Life first-half net revenues rose 7.4% to £5.24 billion.

Nasdaq, S&P 500 Plunge 3%; Polo Ralph Lauren Net Surges 52%

Arthi Gupta
10 Aug, 2011
New York City

U.S. indexes plunged 3% after the Fed guided low rates for two years and announced no new measures to lift the economic growth. U.S. mortgage applications surged to 21.7%. Capital One agreed to acquire HSBC’s domestic credit card business for $2.6 billion. Macy''s earnings soared 64%.

Nikkei in Tokyo Rises 1%; Yen Firms

Nigel Thomas
10 Aug, 2011
New York City

Stocks in Japan traded higher after the U.S. Federal Reserve left its key lending rate near zero and guided low rates for another two years. Exports linked stocks were lower as the yen firmed up. Sony confirmed that rioters burned down one of its warehouses in London.

European Indexes Up; Commerzbank Net Down 93%, Nestle Net Falls 16%

Arthi Gupta
10 Aug, 2011
New York City

European indexes rebounded after a week of chaotic trading. The IEA lowered its 2011 global oil demand growth forecast. The SNB lifted banks'' sight deposits to curb franc appreciation. E.ON planned slashing about 11,000 jobs and Nestle first-half net fell 16%.

German Inflation at 2.4%; French Industrial Output Falls

Arthi Gupta
10 Aug, 2011
New York City

French industrial output fell and current account deficit narrowed in June. German annual inflation was at 2.4% and Portugal inflation eased to 7-month low in July. Norwegian factory price inflation was 16.1% in July.

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