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Holiday Sales Lift Stocks; Commodities Fall

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

U.S. holiday sales rose 2.9% lifting sentiment in trading and benchmark indexes. Freezing weather has now touched nearly 60% of the U.S. population. China lifted its interbank rate. Agriculture commodities and metals declined.

China Interbank Rate Rises; Shanghai Stocks Fall

Mayank Mehta
07 Jan, 2010
New York City

China raised its interbank rate for the first time in five months. The increase was slight, but signaled China

Retail Sales in Europe Fell; Praktiker Drops 6%

Mayank Mehta
07 Jan, 2010
New York City

European retail sales fell in November as the economic recovery is still fragile. The Bank of England kept its rates and bond purchase program in place. The ECB and central bank in Switzerland has already begun to unwind their bond purchase programs. Continental AG plan to raise

UK Rates, Bond Plan Unchanged; Sainsbury Rises

Mayank Mehta
07 Jan, 2010
New York City

The Bank of England left its key lending rate unchanged at 0.5% and kept its bond purchase plan unrevised. Auto sales in December surged on government incentives. UK home prices increased 1.1% in December and added 5.6% from a year ago. Persimmon gained. J Sainsbury same store sales increased 4.2%.

GameStop Plunges; Lennar, Sears, InfoSpace Surge

Mayank Mehta
07 Jan, 2010
New York City

GameStop Corp led the decliners in the S&P 500 index with a loss of 16.9% after it reported same store sales declined. Bed Bath & Beyond profit surged 72.5%. Ruby Tuesday swings to profit in second quarter. Same-store sales at JC Penney fell 3.8% but gained 1% at Macy

Yen Falls on Kan Comments; SMFG to Raise $8.7 B

Darlington Musarurwa
07 Jan, 2010
New York City

Finance Minister Naoto Kan in a departure from his predecessor signaled that the government will prefer weaker yen and is prepared to stem the rising yen. The yen fell 1.1% but is still 18% higher than a year ago. Tokyo office vacancy rises to 8.1% in December. Sumitomo Mitsui to raise $8.7 billion.

Retail Sales in Australia Rise; Dollar Firm

Darlington Musarurwa
07 Jan, 2010
New York City

Australia

Record Food Prices in India; New Auto Models

Mayank Mehta
07 Jan, 2010
New York City

Wholesale price index and food prices hover near a high for the decade in India. Automakers brace for lower margin after the release of 12 new models. Hindustan Copper plans to raise $870 million. Rupee strengthens as foreign fund flows increase.

U.S. Stocks, Metals Decline; Jobless Claims Up

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

U.S. stocks followed world markets and traded lower in the early trading. Initial claims of unemployment increased 1,000 to 434,000 at the end of last week. Lennar, the troubled home builder Lennar reported a surprise quarterly profit but still lost money in 2009.

World Markets in Retreat; Rates in China Rise

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

World markets declined after China let its interest rate increase and new finance minister in Japan reiterated the stance of weaker currency. The Bank of England left its key lending rate at 0.5% and kept the bond purchase plan intact.

Severe Weather in China Lift Resource Stocks

Mayank Mehta
06 Jan, 2010
New York City

Stocks in Hong Kong and Shanghai increased as investors remained optimistic about economic prospects. Coal and aluminum related stocks gained after record low temperatures in Beijing drove the energy demand higher and disrupted aluminum and coal production.

Naoto Kan Replaces Fujii in Japan

Mayank Mehta
06 Jan, 2010
New York City

Japan appointed Naoto Kan to the finance minister post after Fujii resigned battling poor health. Kan is known for his critical views of the Bank of Japan. Stocks gained for the third day in a row after energy and resources related companies advanced. Mitsubishi UFJ plans to float yuan bonds.

Fed Deliberates Stimulus; Commodities Advance

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

U.S. stocks barely closed in the positive as commodities surge after severe weather in the Northern Hemisphere. Freezing weather lifted prices of energy to 14-month high and copper, wheat, sugar and silver added more than 2%. Private sector cut 84,000 jobs in December.

Australian Home Perimts Rise; Auto Sales Steady

Mayank Mehta
06 Jan, 2010
New York City

New home construction permits in November increased 5.9% from October and auto sales in December increased but declined 7.4% in the year to 937,000. Stocks traded sideways after energy and metals prices hovered near their recent highs.

European PPI Rise 0.1%, New Orders Fall 2.2%

Mayank Mehta
06 Jan, 2010
New York City

European markets traded sideways ahead of earnings season next week. Industrial new orders declined 2.2% in November and producer prices increased 0.1%. Service sector in the euro region expanded in December.

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