123jump.com Staff
17 Dec, 2008
New York City
U.S. stocks scaled back from a surge of 4% in the previous session on the worries that the Fed less room to maneuver. Macys led gainers in the S&P 500 index and Newell Rubbermaid led decliners. UK unemployment soars to 6%. Hong Kong lowered its key lending rate in step with the Fed.
123jump.com Staff
17 Dec, 2008
New York City
Of the stocks in S&P 500 index, 264 rose, 233 declined and 3 were unchanged. Macys led gainers in the index with a surge of 14% after it renegotiated terms of its bank debt. Tesoro gained on a fall in crude oil price below $40 a barrel.
123jump.com Staff
17 Dec, 2008
New York City
U.K. unemployment rate soars to 6% in the three months to October, a rise of 0.4 percentage points from the previous quarter. The retailer under administration, Woolworth faces closure at the end of first week in January, unless it finds a buyer.
123jump.com Staff
17 Dec, 2008
New York City
Skilled workers job vacancies decline 7.2% in December. Australia leading index of economic indicators eases to 0.6% in October. CBA completed A$2 billion capital raising after it dropped Merrill Lynch from the underwriting team. The troubled mall operator, Centro Retail Group surged 42%.
Darlington Musarurwa
17 Dec, 2008
New York City
Japan stocks rose 0.5% after the U.S. Federal Reserve cut its rates from 1% to record low range. Investors speculated that the Bank of Japan will also lower its base rate at its next monetary policy meeting. Automakers however trimmed gains after Honda lowered its outlook.
123jump.com Staff
17 Dec, 2008
New York City
Hong Kong Monetary Authority lowered its key lending rate to 0.5% following the rate cut in the U.S. Stocks rose after a rally in banks and realty sectors. State owned companies in China reported revenue rise of 20% in the first eleven months but profits declined 26% on weak energy sector.
123jump.com Staff
17 Dec, 2008
New York City
Stocks in Mumbai fell after Satyam Computer suggested a plan to acquire a company controlled by its chairman. The company was forced to cancel the plan after the stock plunged more than 35%. Reserve Bank of India in its annual report suggested that economic growth may slow on global worries.
123jump.com Staff
17 Dec, 2008
New York City
Hewlett-Packard fourth quarter revenue rose 19% to $33.6 billion, up 19% but net income declined 2% at $2.11 billion. Revenues in first quarter 2009 are expected between $32 billion and $32.5 billion and earnings per share between 93 cents to 95 cents in the first quarter and for the full year between $3.88 and $4.03.
Mayank Mehta
16 Dec, 2008
New York City
Stocks surged in a broad rally after the Fed cut rates to record low. The sharper than expected rate cut lifted financials and retailers. Of the S&P 500 index stocks, 2 fell more than 3%, 413 closed above 3% and 77 rose more than 10%. Baidu surged on comments from Goldman Sachs. Best Buy gained.
123jump.com Staff
16 Dec, 2008
New York City
U.S. stocks rallied on the hopes that lower record rates will spur economic activities. The Fed has expanded its balance sheet by 200% in the last eighteen months and promised more lending by printing money. The tentacles of Fed have spread in many sectors of the U.S. economy.
123jump.com Staff
16 Dec, 2008
New York City
The Fed cut rates to the lowest level possible and raised prospect of lower prices and providing more liquidity by printing money. The Fed lowered the key lending rate from 1% to a range between zero and 0.25%. Financials and insurance companies rallied as stock indexes jumped more than 3%.
123jump.com Staff
16 Dec, 2008
New York City
UK inflation drops to 4.1% in November on a decline in energy prices. But, volatile food and produce prices jumped. Energy stocks rose after Iran and Venezuela favored production cut to support oil prices. Mining companies declined after Xstrata suspended production at a mine in Australia.
123jump.com Staff
16 Dec, 2008
New York City
Mumbai trading sentiment was lifted on a rise in foreign investment in financial markets. December month investment rose to 2,181 crore rupees. Foreign direct investment in October dropped 26% but is still expected to reach $35 billion according to the commerce minister Nath.
123jump.com Staff
16 Dec, 2008
New York City
Australian market averages plummeted led by Macarthur Coal after the company lowered its first half profit forecast. Macarthur Coal dropped 22% on the new estimate and lowered estimate. Stock market index dropped 1% on the weakness in mining sector.
123jump.com Staff
16 Dec, 2008
New York City
In Tokyo stock indexes fell 1.1% ahead of the rate decision in the U.S. Market also awaited for clues from earnings of Goldman Sachs. Toyota Motors is expected to seek price reduction from steelmakers as early as January. Mitsubishi Corp acquired 4.6% stake in AEON and develop business in Japan.
