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Market Update

JPMorgan Earnings Drag Market Indexes

123jump.com Staff
15 Jan, 2010
New York City

U.S. stocks traded lower in the morning and commodities fell and U.S. Treasuries advanced. JP Morgan Chase net tripled but retail banking unit reported a loss dragging market sentiment. Consumer price index increased 0.1% in December and for the year advanced 2.7%.

U.S. Stocks in Choppy Trading Edge Higher

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

Stocks in volatile trading closed higher but commodities tracked lower. JP Morgan and Bank of America, Goldman Sachs and Citigroup each will face more than $1 billion a year tax to pay for additional tax proposed by the White House.

White House Seeks Bank Tax to Fund Bailout

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

President Obama unveiled new fee on banks and financial institutions to recoup losses used in the TARP bailout. The President using strong language and sharp focus on compensation practices and risk taking behavior vowed to recover $120 billion over twelve years.

Greece Worries Cloud Euro Sentiment

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

European bonds and currencies markets were rattled as the pressure builds on Greece to trim its budget deficit soon. The ECB President and German Chancellor comments added more pressure on Greek lawmakers to trim budget deficit to 8.7% from the current 12.7%. The euro declined against the dollar.

UK Stocks Gain; AB Foods Up, Home Retail Down

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

UK stocks closed higher on the strength in resource stocks. Mining and metals stocks gained after Rio Tinto said fourth quarter iron ore production surged 49%. Home Retail Group dropped 6% on cautious outlook. Associated British Foods and Halfords sales increased in the holiday period.

Australian Dollar, Stocks Rise on Dec Jobs Data

Darlington Musarurwa
14 Jan, 2010
New York City

Australian dollar and stocks gained after the release fourthly monthly jobs gains in December. Unemployment fell 0.1% to 5.5% and business across the economy added staff. Rio Tinto iron ore production surged 49% on China demand.

Japan Stocks Gain on Machine Tools Orders

Darlington Musarurwa
14 Jan, 2010
New York City

Stocks in Japan rose after machine tools orders surged for the first time in eighteen months in December but broader machinery orders declined. Shipping companies surged on the reports that Mitusi OSK will report pre-tax profit of 11 billion yen. Softbank Corp gained.

LaBranche, Domino's Pizza, A123 Systems Rise

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

American Movil plans to issue stocks worth $18 billion to acquire the land line operator Telemex in Mexico. Briggs & Stratton said latest quarterly earnings declined 6%. Zale Corp forced its chief executive after weak holiday sales.

Weak Retail Sales, U.S. Jobless Claims Rise

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

U.S. stocks traded lower after retail sales declined and weekly jobless claims increased. Prices of imported goods were unchanged in December but exported goods increased 0.6%. Briggs & Stratton reported latest quarterly earnings per share of 6 cents and CRA International of 23 cents.

Australian Stocks Struggle; Rents on the Rise

Darlington Musarurwa
13 Jan, 2010
New York City

Lower commodities and unease related to recent China move to increase bank reserve ratios damped the mood in trading. Sydney stocks closed lower. WorleyParsons lowered its earnings outlook and weaker than expected power sales in the U.S. Residential rents are expected to rise in Australia.

Japan Stocks Lower; Bankruptcies Fall

Darlington Musarurwa
13 Jan, 2010
New York City

Stocks in Japan declined on the worries that stimulus reversal in China may lower imports. Commodities linked companies declined. Corporate failures in Japan declined 16.6% in December. Japan prepares JAL to file bankruptcy and may launch discount carrier.

India Stocks Rise; Bajaj Auto, Infosys Gain

Mayank Mehta
13 Jan, 2010
New York City

Stocks in Mumbai traded higher after Infosys reported better than expected earnings. Rupee advanced as exporters prepare to sell the dollar. Bajaj Auto Ltd quarterly sales surged 59% and earnings nearly tripled but earnings net declined 63% at Bajaj Finserv.

U.S. Markets Higher; Emerging Markets Fall

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

U.S., Germany, Italy and Portugal raised nearly $45 billion though bonds sale today. Treasuries yields in the U.S. and Europe inched up after the sale. Emerging markets declined on the worries after China increased bank reserve requirements.

German GDP Shrinks 5% in 2009; Stocks Mixed

Mayank Mehta
13 Jan, 2010
New York City

European markets closed mixed and commodities prices declined. Portugal, Germany and Italy raised

UK Stocks Track Lower Metals; Output Flat

Mayank Mehta
13 Jan, 2010
New York City

UK stocks closed lower tracking a decline in commodities prices. UK November factory output was unchanged from October. Hershey is likely to bid for Cadbury Plc. Resource sector stocks declined after a weakness in metals and energy prices.