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S&P 500 Index Eases 1.1%, Nasdaq drops 1.6%

Bikram Pandey
23 May, 2011
New York City

U.S. stocks declined on global economic worries. Rating agencies downgrade of Greek and Italian debt only added to the market jitters. The dollar rose as the euro declined. Crude oil fell 2% and silver eased 1%. The Dow, S&P 500 index and the Nasdaq dropped more than 1%.

Eurpean Markets Fall 1.5% on Debt Worries and China Slow Down

Nigel Thomas
23 May, 2011
New York City

European markets accelerated sell-off after China manufacturing slow down added to market jitters. Ratings agencies downgraded debts of Italy and Greece and regional elections losses in Spain also unnerved investors.

Nikkei in Tokyo Declined1.5%; Machinery and Steel Makers Fall

Nigel Thomas
23 May, 2011
New York City

Stocks in Tokyo fell on the worries that exports to China may suffer. The latest read on manufacturing index in China prompted a broker to lower its view on the makers of steel and construction machinery. The Nikkei index declined 1.5% as indexes in Asia dropped between 1% and 2%.

Australian Stocks Drop to 2-month Low; Territory Resources Soars 63%

Marcus Jacob
23 May, 2011
New York City

Australian stocks dropped the most in two months after a private survey in China estimated near flat manufacturing in May. The weak manufacturing dragged markets in Asia. Territory Resources soared on an offer from Exxaro. Elders dropped 7% after it reported a loss.

World Markets Retreat on Greece and Euro-zone Worries

Bikram Pandey
20 May, 2011
New York City

U.S. stocks turned lower in the morning and failed shake off losses at close. The incipient rally of two days came to a halt as the Dow closed lower for the third week in a row. Crude oil and gold closed higher as the dollar declined. European Union struggles to contain Greek crisis.

U.S. Movers: Aeropostale, Donaldson, Hibbett, Intuit, Nordson, Gap

Mukesh Buch
20 May, 2011
New York City

Aeropostale first quarter net income declined 64% to $16.4 million. Donaldson third quarter net earnings surged 25% to $62 million. Intuit third quarter net income rose to $688 million. Salesforce.com first quarter net income tumbled to $0.5 mn. Gap first quarter net income declined 23% to $233 mn.

Irish Trade Surplus Improves; BP Settles Claim with MOEX

Arthi Gupta
20 May, 2011
New York City

The UK indexes rose after Irish trade surplus improved in March. MOEX agreed to pay $1.07 billion to BP on Deepwater Horizon oil spill. Mitchells & Butlers first-half revenue declined 9%.

U.S. Indexes Lower; Barnes & Noble Soars, Fortune Sells Golf Business

Arthi Gupta
20 May, 2011
New York City

U.S. indexes traded lower after disappointing earnings from retailers. Merger news dominated trading. Fortune Brands sells Acushnet business to Korean consortium for $1.23 billion. Barnes & Noble received $1 billion buyout. Chrysler Group priced debt offerings to raise $7.5 billion.

Sensex in India Up 1%; Rupee Weak

Devan Biswas
20 May, 2011
New York City

Stocks in Mumbai gained on the optimistic outlook and ignored the resurgent inflation data. The rupee hovered near 2-month low. Reserve Bank of India discontinued its second liquidity adjustment facility as liquidity improves.

Euro Area Current Account Deficit Narrows; German PPI Rises

Arthi Gupta
20 May, 2011
New York City

The European indexes declined after euro-zone current account deficit narrowed and French leading index rose in March German producer price inflation increased in April. Siemens ordered to pay

Japan Stocks Ease; Tepco Declares $15 Billion Loss

Nigel Thomas
20 May, 2011
New York City

Stocks in Japan struggled despite foreign investors added net to net holdings for the 28th week in a row. Tepco reported 1.25 trillion yen or $15.2 billion of loss after the close. Banks declined on the uncertainty linked to Tepco debt.

Weakness in Miners Drag Australian Stocks

Marcus Jacob
20 May, 2011
New York City

Australian stocks turned lower on weak regional trading. Commodities rebounded but miners declined after Western Australia lifted royalty payment on certain grades of iron ore. Fortescue Metals estimated iron ore reserves of 716 million tons at its project in Western Australia. Banks closed lower.

U.S. Stocks Finish Higher; Commodities Slip

Bikram Pandey
19 May, 2011
New York City

U.S. stocks traded sideways as tech stocks displayed positive momentum. Investors questioned the surging valuation of the latest Internet public offering LinkedIn. Economic data suggested halting and slow recovering in manufacturing and home sales. Commodities fell and the dollar eased.

Eurpean Markets Advance; Richemont Misses Earnings

Nigel Thomas
19 May, 2011
New York City

European markets closed higher after commodities and resource linked stocks advanced. Glencore International closed up 2% on its first day of trading. Richemont declined after it reported lower than expected earnings. Pandora A/S plunged 15% after it increased prices of jewelry.

Japan in Recession with 0.9% GDP Fall; Utilities Stocks Decline

Nigel Thomas
19 May, 2011
New York City

Stocks in Japan declined after the economy shrank at 3.7% annual rate in the fourth quarter and fell for the second quarter in a row. The two quarters of decline in a row pushed the economy in recession. Renesas Electronics reported annual net loss in line with expectations.

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