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Growing U.S. Economic Anxieties; Italy, Spain in Debt Contagion Fears

Bikram Pandey
03 Aug, 2011
New York City

The U.S. and world markets extended losses in the third week on the growing uncertainties about the U.S. economic health and euro-zone debt contagion. Italy and Spain are not in the direct focus of bond speculators. MasterCard Inc soared after transactions and payment through its network soared.

U.S. Movers: Agrium, Comcast, Devon, MasterCard, Time Warner

Mukesh Buch
03 Aug, 2011
New York City

Comcast second quarter income increased to $1.02 billion. Devon Energy second quarter income soared 288% to $2.7 billion. MasterCard second quarter income increased 33% to $608 million. Time Warner second quarter income rose to $638 million.

U.S. Stocks Struggle, Private Sector Adds 114,000

Darlington Musarurwa
03 Aug, 2011
New York City

The U.S. indexes gained after a decline for eight days in a row after private sector added 114,000 jobs in July. MasterCard, TimeWarner, Comcast and Clorox reported better than expected earnings. European markets struggled on the growing worries about Italy.

European Markets Slide to 1-year Low; Switzerland Cuts Rate to Zero

Devan Biswas
03 Aug, 2011
New York City

European markets extended losses to 10% in ten days as the debt stress resurfaced forcing Italian finance minister in an emergency meeting with the Bank of Italy and the prime minister of Spain to cut his vacation for the second day. Switzerland lowered its key rate to near zero.

Nikkei With 2.1% Loss Falls to One-Month Low; Kirin, Ibiden, Idemitsu Down

Nigel Thomas
03 Aug, 2011
New York City

Japanese stocks fell 2% following a worldwide sell-off. The U.S. debt accord failed to allay the long term debt worries and the stress in the euro-zone sovereign bond markets rose to a new high with Italy in focus. The yen flirted near a record high and the U.S. sales of Honda and Toyota lagged.

Australian Trade Surplus Falls, Retail Sales Down: Stocks Slump 2.3%

Marcus Jacob
03 Aug, 2011
New York City

Stocks in Australian declined sharply following the sell-off in the U.S. and European markets. Commodities declined but gold closed at a record high. Retail sales fell 0.1% in June but rose 0.3% in the second quarter. Australian trade surplus declined to A$2.05 billion in June on flat exports.

U.S. Indexes Wipe Out 2011 Gains; Fear Drives Stocks Lower

Bikram Pandey
02 Aug, 2011
New York City

The U.S. indexes declined as economic worries gathered storms in the U.S. and Europe. The Nasdaq dropped 2.8% and the S&P 500 index declined 2.6%, wiping out the gains of the year. Gold soared but crude oil declined. The eight decline wiped out 7%.

U.S. Movers: American Tower, Cognizant, Hyatt, Pfizer, Parker-Hannifin

Mukesh Buch
02 Aug, 2011
New York City

American Tower second quarter net income rose to $115.2 million. Cognizant second quarter net income rose to $208.0 million. Duke Energy second quarter net income swung to $435 million. Pfizer second quarter net income increased 5% to $2.61 billion.

U.S. Stocks Lower on Weak Spending; Hyatt, Tenet Healthcare,Toyota Up

Devan Biswas
02 Aug, 2011
New York City

U.S. stocks fell after personal income rose at the slowest pace since November and spending declined in June. Investors also worried that the latest debt deal will cloud the economic outlook. Pfizer fell after it missed earnings views and Hyatt Hotels, Toyota Motor and Tenet Healthcare rose.

Focus Shifts to Record Italian, Spanish Bond Yields

Bikram Pandey
02 Aug, 2011
New York City

The focus in the European trading shifted to the euro-zone sovereign debt stress as the yields on Italian and Spanish bonds rose to a record high and inched in the danger zone. Belgium completed the sale of Treasury bonds but yields rose. The euro declined.

Yen Strength Worries Japan; Chip Equiment Makers Fall

Nigel Thomas
02 Aug, 2011
New York City

Stocks in Tokyo edged lower and the yen traded near record high. The indexes and electronics makers fell after the U.S. manufacturing index dropped to a 2-year low. Electronic chip equipment makers fell after Tokyo Electron cut its full year out by half. Nippon Soda gained on the revised outlook.

Australian Rates on Hold; Buildings Approval Falls 3.5%

Marcus Jacob
02 Aug, 2011
New York City

Australian stocks closed lower after the Reserve Bank of Australia left its key lending rate on hold for the tenth month to 4.75% and cited that measures that affect long term inflation are on the rise. Building approvals declined 3.5% in June.

U.S. Indexes Volatile; Economy to Weaken After Debt Deal

Bikram Pandey
01 Aug, 2011
New York City

U.S. indexes turned lower after U.S., Europe, China and India reported weak manufacturing reports. Market indexes opened higher on the expectations that the debt framework agreed by the White House and Congressional leaders will clear legislative bodies ahead of Aug 2 deadline.

U.S. Movers: Acorda, Allstate, Humana, Loews, Sohu.com

Mukesh Buch
01 Aug, 2011
New York City

Acorda reported second quarter net loss narrowed. CNA Financial second quarter net income fell to $126 million. Allstate reported second quarter net loss of $620 million. Humana second quarter net income increased 35.3% to $460.3 million. Loews second quarter net income decreased to $252 million.

UK Manufacturing Declines; HSBC Plans 30,000 Jobs Cut

Arthi Gupta
01 Aug, 2011
New York City

The UK indexes rose after the U.S. lawmakers agreed on a broad framework of deficit cut that requires approval of two legislative bodies. Manufacturing activity in the UK declined in July. HSBC first-half net rose 36% and the firm planned to cut 30,000 jobs by the end of 2013.

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