123jump.com Staff
30 Nov, 2007
New York City
U.S. stocks scaled higher after the Fed chairman comments and reports on construction spending and personal income and spending. Motorola chief executive Ed Zander will leave the company and will be replaced by chief operating office Greg Brown. Morgan Stanley also removed Co-president Zoe Cruz after losses in mortgage and other loan securities of nearly $4 billion.
123jump.com Staff
30 Nov, 2007
New York City
Australian stocks edged higher on resource and energy stocks. ASX 200 increased 1.4% or 88.60 to close at 6,533.10. Murchison Metals chairman indicated that the company is still interested in Midwest Corp and may revise the offer. Symbion Health added 2% after it said that earnings for the year are likely to rise 10%. Of the ASX 200 index stocks, Centro Properties led the decliners with a fall of 3.2%.
123jump.com Staff
30 Nov, 2007
New York City
Stocks in Tokyo edged higher on the overnight strength in the U.S. market. Core consumer prices in November rose 0.3% from a year ago and from October on rising food and energy cost. Unemployment rate hovered around 4% in October as construction industry employment dropped sharply. Japan housing starts in otober dropped 35% from a year ago on revised building code.
123jump.com Staff
29 Nov, 2007
New York City
U.S. stocks eked out a gain after a day of volatile trading. Market averages in the 2-day rally added 4% but rested today. Altrial led the gainers in Dow Jones Index with a rise of 2.6% followed by increases in AT&T and General Motors. Countrywide led the gainers in the S&P 500 index with a rise of 6.8% followed by increases in MGIC og 6%. Sears fell 11% in the index.
123jump.com Staff
22 Nov, 2007
New York City
Sensex in Mumbai recovered from a sharp decline to close lower 0.4% to 18,526. The fourth decline in a row was led by losses in Larsen & Toubro of 4.1%, in Suzlon of 2.5%, and in Tata Power and NTPC of 5%. According a private research India led the world markets in the last four months of trading with a gain of 33% followed by gains in Qatar, UAE, Egypt, and Brazil.
123jump.com Staff
23 Nov, 2007
New York City
BHP Billiton chief Marius Kloppers to meet China Iron and Steel Association officials in Beijing today. Qantas and Tiger Airways are sparring over the services to Alice Springs. Westpac severs ties with Virgin Money. Woodside Petroleum Ltd started A$12 billion ($11 billion) construction of Pluto liquefied natural gas project.
123jump.com Staff
26 Nov, 2007
New York City
ASX 200 index added 2.2% to close at 6, 471.40. Rams Home Loans shareholders approve sale of franchise network to Westpac Banking Corporation for $140 million. Rio Tinto surges on speculation that a rival bid from China may emerge. Zinifex Ltd announces record profit of $1.3 billion and that it has more than A$2.2 billion to make acquisitions. Australian dollar gained in international trading.
123jump.com Staff
29 Nov, 2007
New York City
U.S. stocks fell in the morning trading after a 2-day rally. The Department of Commerce revised third quarter GDP growth to 4.9% from 3.9%, fastest gain in four years. Oil jumped after one of the pipelines from Canada to the Midwest caught fire. Asian markets closed higher tracking the overnight rise in the U.S. stocks. European markets traded higher.
123jump.com Staff
29 Nov, 2007
New York City
Australian stocks edged higher after enthusiastic investors lifted stocks across Asia. ASX 200 index jumped 1.2% or 74.40 to close at 6,370 on the hopes that interest rates may be lowered in the U.S. at the next meeting of the Fed. Resource, banks, and retail stocks led the gainers. National Australian Bank announced that it may acquire Great Western Bancorp based in South Dakota. BlueScope Steel jumped 4% after it laid plans to restructure its China operations.
123jump.com Staff
29 Nov, 2007
New York City
Hong Kong stocks led the region with a sharp rise in Han Seng Index of 4.1% or 1,111.30 to 28,482.54. Property stocks rallied on the news speculation that the U.S. interest rate is likely to to be lowered in the next meeting in two weeks. Sino Land surged 9%, Hang Leung gained 8%, and Sung Hung Kai added 4.5% on the rate cut expectations. Hong Kong interest rates are tied to the rates in the U.S.
123jump.com Staff
29 Nov, 2007
New York City
E*Trade Financial Corp, widely known for its discount online trading service agreed to sell its portfolio of mortgage loans and securities to Citiadel Investment for $800 million. The bank and online broker will also sell 10-year notes of $1.75 billion to investment group yielding junk interest rate of 12.5%. The deal also removes the current chief executive in the company and grants a board seat to Citadel.
123jump.com Staff
29 Nov, 2007
New York City
Stocks in Japan rallied after comments from the U.S. Fed official reinforced a rate cut expectations at the next meeting on December 11. Rally in financial and export driven stocks lifted Nikkei 225 index higher by 2.4% to 15,513.74. Asian stocks rallied across the region led by a sharp rise in Hong Kong of 4.2% followed by increases of more than 2% in Singapore, Thailand, and in Taiwan.
123jump.com Staff
28 Nov, 2007
New York City
U.S. stocks rallied for the second day after Fed Vice Chairman comments reinforced the rate cut expectations. Finacials led the advance followed by a surge in consumer related and housing market driven stocks. Dow, S&P 500, and Nasdaq surged between 2% and 3%. Dollar rose aginst yen. Oil fell after a weekly inventory report. Gold fell for the second day in a row. Of the stocks in S&P 500 index nearly 90% advanced and 50% jumped more than 3%. Freddie Mac and CB Richard Ellis led the gainers.
123jump.com Staff
28 Nov, 2007
New York City
U.S. stocks rallied sharply in after the comments from the Fed Vice Chairman were interpreted as a possible rate cut in the next Fed meeting. Dow Jones, S&P 500, and Nasdaq jumped 1.5% by mid-morning trading. Finacial stocks led the rally. European markets closed higher by 3% across the region.
123jump.com Staff
28 Nov, 2007
New York City
Japanese financial markets have not been able to shake off the volatility emanating from the U.S. markets. The continuted worries related to the U.S. sub-prime losses and ongoing correction in the U.S. housing market have global markets on the edge. Third quarter U.S. home prices fell 4.5% sparking a new round of worries related to the health of the U.S. banks. Nikkei 225 index closed 0.5% lower to 15,153.78 in volatile trading.
