123jump.com Staff
03 Oct, 2008
New York City
Hong Kong retail sales in August rose 10.4% and in the first eght months gained 15% in value and 8.3% in volume. Hang Seng index declined nearly 3% as persisten troubles in the U.S. credit markets will slow down the China region economy.
123jump.com Staff
03 Oct, 2008
New York City
The U.S. market indexes dropped despite the passage of the bank bailout bill with $700 billion provision. For the Week, the indexes Nasdaq dropped 11%, S&P 500 plunged 9.4% and Dow fell 7.3%. The credit markets between banks remained tight and Libor rate reached record levels.
123jump.com Staff
03 Oct, 2008
New York City
Regional banks and insurance companies rally on the hopes of bank bailout bill passage in the U.S. House. Wachovia surges on a higher bid from Wells Fargo. Penn National lowers revenue and earnings outlook.Compass Minerals soars on a ratings upgrade from JP Morgan.
123jump.com Staff
02 Oct, 2008
New York City
Fear of more declines and uncertainty of the U.S. House vote on banks bailout dragged the market lower. The U.S. benchmark indexes drop between 3% and 4.5% and European markets fell nearly 2%. Gold and oil futures decline 5%. Hartford Financial plunges 32%. GE declines 10% and raises $12 billion.
123jump.com Staff
02 Oct, 2008
New York City
Australia reported its August trade surplus of A$1.3 billion from a revised deficit of A$697 million as exports rose 6% from a year ago and imports declined 2%. In trading, stocks edged lower as credit market remained tight and futures in metals market were on the decline.
123jump.com Staff
02 Oct, 2008
New York City
Japan auto sales in the U.S. plunged 30% as sales of light trucks and SUVs fall. The large decline of what was widely believed as stable market for the Japan auto makers put investors on the defensive. Steel makers and construction machinery companies fell the most in more than three years.
123jump.com Staff
02 Oct, 2008
New York City
Insurance stocks decline for the third week in a row and and for the third day of the week as brokerage firm lower rating on companies. Two brokerage firms lowered outlooks on Principal Financial Group and MetLife. Prudential and Hartford Financial continue their slide for the week.
123jump.com Staff
02 Oct, 2008
New York City
Agro-chemicals stocks plunged after the earnings miss from the Mosaic Corp. Merrill Lynch lowered its ratings on Agrium and Potash. Mosaic dropped 31% and dragged down Bunge Ltd by 21%, Potash Corp by 25% and Intrepid Potash 22%. Marriott fell as much as 10% on weaker earnings outlook.
123jump.com Staff
02 Oct, 2008
New York City
General Electric completed its $12.2 billion in public offering after denying for months that it needs outside capital. The offering will help the financial services company to build its reserve and help the engineering giant in preserving its AAA rating.
123jump.com Staff
01 Oct, 2008
New York City
The U.S. Senate passed with overwhelming majority nuclear trade treaty with India. The approval with a vote of 86-13 lifted three decade ban on trade is expected to open doors to india to sell nuclear technology, fuel and reactors.
123jump.com Staff
01 Oct, 2008
New York City
Stocks in New York traded sideways ahead of the U.S. Senate vote on the proposed bailout plan. Stocks of insurance companies declined sharply as earnings worries take hold. Principal Financial, Hatford Financial, MetLife and Prudential plunged more than 5%. GE plans to raise $12 billion.
123jump.com Staff
01 Oct, 2008
New York City
Japan stocks closed marginally higher ahead of the U.S. Senate vote but business sentiment continues to weaken. Wages in August fell 0.3% and auto sales for the first six months of the fiscal year declined 3%. Shipping lines fell as freight index drops.
123jump.com Staff
01 Oct, 2008
New York City
Manufacturing index suggested that the UK manufacturing has declined and service industry has lost its growth drive as consumer spent less and business face tighter lending. Xstrata Plc abandoned its hostile bid for Lonmin Plc and raised its stake to 25% in the company. Pound fell.
123jump.com Staff
01 Oct, 2008
New York City
Sensex in Mumbai trading gained on hopes that the U.S. will pass its bailout plan. Trade deficit for the first five months surged 44% on crude oil import bill rise of 77%. The sharp rise in oil prices lifted the trade deficit to $49 billion in the period. Software exporters gained on weak rupee.
123jump.com Staff
01 Oct, 2008
New York City
Farmers Mac surges 60% after it raised $65 million to meet its regulatory capital requirements and replaced its chief executive. Peabody Energy and Massey Energy plunge more than 10% as oil price decline and economic worries rise. Hartford Financial plunges more than 10% for the second day.
