123jump.com Staff
31 Oct, 2008
New York City
U.S. stocks rallied after JP Morgan Chase issued a statement to not add any more new loans to foreclosure process before offering modified terms. The widened program is likely to benefit 400,000 families with $110 billion mortgage loans.
123jump.com Staff
31 Oct, 2008
New York City
Stocks in Australia edged higher but for the month declined 12.7%, the worst decline in the month in more than three decades. New home sales in September fell 1.8% after dropping 1.3% in August. Lihir Gold production in the quarter ending in September rose 40%.
123jump.com Staff
31 Oct, 2008
New York City
Stocks in Mumbai surged 8% on the first of day trading. ONGC profit declined 5.7% and Bharat Petroleum and Indian Oil Corporation reported larger losses. A rise of 0.5% in rupee lifted stocks of software exporters. Punjab National Bank profit rose 31% and Kotak Mahindra profit declined 37%.
123jump.com Staff
31 Oct, 2008
New York City
Stocks in Hong Kong fell 2.5% and in Shanghai dropped 2% on weak bank earnings. Energy stocks fell after crude oil declined below $65 a barrel. Bank of Communications dropped 5.4% after it reported 22% in third quarter. China Unicom fell 4% after earnings declined 13%.
123jump.com Staff
31 Oct, 2008
New York City
The Bank of Japan lowered rates by 20 basis points to 0.3%. The BoJ chairman casted the decisive vote. In trading, Nikkei 225 index fell 5% to 8,576. The benchmark index dropped 24% in October. Nikon Corp cuts its profit estimate by 40%.
123jump.com Staff
31 Oct, 2008
New York City
The U.S. personal spending in September declined at 0.3% from the revised increase of 0.1% in August. Salaries and wages increased at the slower pace in the month than in August. The employment cost in the third quarter rose at 0.7% matching the gains in the first two quarters of this year.
123jump.com Staff
31 Oct, 2008
New York City
The online auction, payment processor and communication services provider reported third quarter revenue rise of 12% to $2.1 billion from a year ago. PayPal revenue rose 27% to $597 million and Skype revenue surged 46% to $143 million. eBay guided fourth quarter revenue of at least $2.02 billion.
123jump.com Staff
30 Oct, 2008
New York City
U.S. stocks edged higher as earnings dominated trading sentiment and third quarter GDP shrank. Stocks in Tokyo surged 26% in a 3-day rally. Benchmark index in Hong Kong soared 13% and in Brazil jumped 7.7%. Markets in Europe edged higher. Deutsche Bank reported profit on revised write down rules.
123jump.com Staff
30 Oct, 2008
New York City
Stocks in Australia surged on a steep rise in copper and crude oil prices. The U.S. Fed rate cut of 0.5% to 1% lifted prices of base metals and energy in Asian trading. The benchmark index ASX 200 index surged 4% and closed at 4,001.10. Australian dollar surged 5% to 68.22 U.S. cents to a dollar.
123jump.com Staff
30 Oct, 2008
New York City
UK home prices in October fell 14.6% from a year ago and dropped 1.4% from September on tight lending conditions and weak consumer confidence. Money market rates as measured by the libor rate fell 23 basis points to 3.2% after the U.S. Fed lowered the rate by 0.5%. Vedanta Resources surged 16%.
123jump.com Staff
30 Oct, 2008
New York City
Stocks in Hong Kong soared after the HKMA lowered rates by 0.5% following the U.S. rate cut. The benchmark index Hang Seng surged 13%. Stocks in Shanghai increased 2.4%. PetroChina third quarter earnings rose 30%, however Sinopec earnings fell 39%. China Cosco surged 41% on 19% rise in earnings.
123jump.com Staff
30 Oct, 2008
New York City
Stocks in Japan soared 10% after the U.S. Fed lowered interest rate by 0.5% to 1%. Nikkei 225 surge capped a three-day rally of 26%, the largest gain thirty five years. Prime minister is expected to unveil a 5 trillion yen stimulus package to stimulate consumer spending.
123jump.com Staff
30 Oct, 2008
New York City
Colgate Palmolive surged 8% after third quarter revenue rose 13%. CVS Caremark Corp gained 8% after third quarter net income surged 7%. Deutsche Bank surged 21% on quarterly revenue fell 14% and net income dropped 74%. First Solar surged 19% after third quarter net income increased 40%.
123jump.com Staff
30 Oct, 2008
New York City
Third quarter GDP adjusted for seasonality fell at annual rate of 0.3% from the second quarter after rising at a rate of 2.8% in the second quarter and 0.9% in the first quarter. The sharpest pull back in consumer spending in the last three decades of 3.1% contributed to the weakness the GDP data.
123jump.com Staff
29 Oct, 2008
New York City
The Fed lowered the rate by 0.5% to 1% and indicated that inflation will moderate as commodities and energy prices have declined. The rate cut expectations lifted markets in Asia and in Europe. However, after the cut U.S. stocks surged 3% but closed 1% lower. Oil surged $5 a barrel.
