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Market Update

U.S. Stocks Rise on Earnings, Economic Data

123jump.com Staff
14 Apr, 2010
New York City

Fed Chairman Bernanke said the U.S. economy will grow at a moderate pace on the account of high unemployment and weak consumer spending. The regional survey published by the Fed suggested modest increase in hiring. The S&P 500 index closed above 1200, matching the index eighteen months ago.

Singapore Revalues Dollar; Stronger Yuan

Mayank Mehta
14 Apr, 2010
New York City

Stocks in China region traded under pressure after March real estate prices increased 11.7%. The sharp rise in prices only fueled worries of additional government steps to curb lending. Singapore de-facto revalued its dollar lending a support to the imminent yuan strengthening arguments.

Conusmer Confidence Up in Australia

Darlington Musarurwa
14 Apr, 2010
New York City

Australian stocks closed higher on the back of a rebound in commodities and metals prices. Australia

Tokyo Stocks Advance; Tokyo Electron Up

Darlington Musarurwa
14 Apr, 2010
New York City

Traders in Tokyo focused on Intel earnings after the largest chipmaker estimated higher second quarter sales. Tokyo Electron, the equipment maker and Intel supplier quarterly orders rose 21%. Toyota Motor Corp. suspends Lexus SUV sales in the U.S.

Higher Metals Lift UK Stocks; Ashmore Up

Mayank Mehta
14 Apr, 2010
New York City

UK stocks gyrated with metals and oil prices in London and New York trading. Ashmore Group Plc gained after assets under management increased 4% in the three months to March. Burberry closed higher after Christian Dior sales increased 12% in the first quarter.

Output, Earnings Lift European Markets

Mayank Mehta
14 Apr, 2010
New York City

European markets closed higher after earnings momentum and an increase in industrial production lifted the sentiment. European chipmakers Infineon Technologies AG and STMicroelectronics NV traded higher after Intel Corp estimated higher worldwide demand.

JPMorgan Chase, Intel and CSX Rise

123jump.com Staff
14 Apr, 2010
New York City

W.W. Grainger, Inc led the decliners in the S&P 500 index with a loss of 3.0%. CSX Corp first quarter net rises 24% to $306 million. Intel Corp gains after it estimated higher sales in the second quarter. JPMorgan Chase first quarter net surged 55.6% on 11% rise in revenues.

Retail Sales, Inflation Data Lift U.S. Stocks

123jump.com Staff
14 Apr, 2010
New York City

Stocks in the early trading scaled higher after JPMorgan Chase reported better than expected earnings, retail sales in March gained and core rate of inflation was in line with the Fed range in March.

NAB Lifted Australian Growth Estimate

Darlington Musarurwa
13 Apr, 2010
New York City

Australian business conditions improve in March according to the private survey by the National Bank of Australia. The bank also lifted its estimate of economic growth to 3.5% from 3%. Coal shipments declined 6% in the last week.

Yen Advances; Stocks in Tokyo Fall

Darlington Musarurwa
13 Apr, 2010
New York City

Japan

Earnings Outlook Drives U.S. Indexes

123jump.com Staff
13 Apr, 2010
New York City

Earnings expectations drove market indexes higher at close after a weakness in the morning trading. Greece completed the offering of short term debt. Commodities declined. The S&P 500 index is approaching 1200 and the Dow at 11000 is viewed by many as twin resistance levels.

Inflation Worries in India; Infosys Up

Mayank Mehta
13 Apr, 2010
New York City

Stocks in Mumbai traded lower on the worries that rising inflation may prompt government to lift rates. Infosys gained after fourth quarter results and indicate higher sales in the current year.

UK Stocks Lower; Debenhams Fall

123jump.com Staff
13 Apr, 2010
New York City

UK stocks closed lower tracking losses in commodities. Debenhams plc first-half net profit falls. Oxford Catalysts Group fiscal year 2009 loss widens. Grainger plc sales pick up. Tullow Oil plc finds oil at a field in Uganda.

Greece Debt Sale; LVMH Up, Helvetia Down

Mayank Mehta
13 Apr, 2010
New York City

European markets closed lower. Greece completed the sale of Treasury bills that drew strong interest from investors however there is a growing doubt that the nation can complete bond sales of five years or longer maturity.

Ambac, Boots & Coots and Palm Surge

Mayank Mehta
13 Apr, 2010
New York City

Aloca Inc declined after quarterly sales were lower than expected and reported narrower loss. Palm is in discussion with Asia based companies that may result in the company sale. Peabody Energy is negotiating with Coal India for long term supply.