123jump.com Staff
20 Nov, 2007
New York City
U.S. market averages see-sawed for the most of the session. Aveerages opened higher on positive outlook from HP, expanded stock buyback from Nordstrom, and lower than expected loss from D R Horton. Market soon focused on losses at Freddie Mac and lost steam in the late afternoon. The minutes of meeting of FOMC suggested that the Fed is worried about eocnomic slow-down than the inflation. At close averages recovered most of the losses but oil reached above $98 per barrel.
123jump.com Staff
20 Nov, 2007
New York City
S&P 500, Nasdaq, and Dow jumped 0.5% at the opening on better than expected housing starts, and strong than expected earnings from HP and Nordstrom. October housing starts increased 3% from September but fell 16% from a year ago. Freddie Mac reported $2 billion quarterly loss. Nordstrom expanded its stock buyback plan by $1 billion to $2.5 billion. Hewlett Packard reported 15% increase in revenue and operating income of 38% in the fourth quarter.
123jump.com Staff
20 Nov, 2007
New York City
Ahead of the U.S. new home construction report, dollar fell in Asia and in Europe. Stocks in Japan rebounded after a week of losses but managed to gain a fraction. Weak metal prices in the Asian region did not prevent Japanese metals and mining companies to rise. Shinsei Bank has agreed to sell 33% stake to private equity group controlled by J C Flowers. Aozora Bank and Sumitomo Trust & Banking to explore joint loans and asset management.
123jump.com Staff
19 Nov, 2007
New York City
U.S. market averages fell sharply as housing market worries intensified. Dow and Nasdaq lost 1.66% and S&P 500 declined 1.75%. Lowes reported lower than expected earnings and issued a cautious earnings guidelines and a rating downgrade to sell on Citigroup from Goldman Sachs hurt the banking stocks. The gloom in the market led stocks in banking, retail, and housing sectors lower. Of the S&P 500 index stocks, 435 declined and 126 fell more than 3%. Peru and Brazil fell sharply.
123jump.com Staff
19 Nov, 2007
New York City
U.S. stocks fell sharply in the morning after weak earnings report from Lowes and Swiss Re booked a loss related to sub-prime lending. Citigroup fell 5% after Goldman Sachs assigned sell rating to the stock and said that the bank could lose upto $15 billion in the next two quarters. TD Ameritrade may explore E*Trade brokerage business. European and Asian markets fell sharly as housing market worries reverberated around the globe.
123jump.com Staff
19 Nov, 2007
New York City
Stocks in Tokyo fell on the first day of this week. Nikkei 225 index fell 0.7% to close at 15,042. Twenty One financial institutions are in an alliance to acquire Ashikaga Bank from the government of Japan. Shizuoka Bank led the gainers in the Nikkei 225 index and Tosho Corp led the decliners. Yen edged higher.
123jump.com Staff
16 Nov, 2007
New York City
U.S. stocks gain after a day of volatile trading. Dow Jones and S&P 500 added 0.5% and Nasdaq increased 0.7%. Cisco increased its buyback of its stock by $10 billion helping the averages to recover. FedEx lowered its earnings forecast and cited rising fuel cost and slowing freight volume. Energy stocks rose after oil jumped above $95 per barrel. Agilent Technologies jumped 9% after reporting better than expected earnings.
123jump.com Staff
16 Nov, 2007
New York City
U.S. stocks opened higher led by Cisco Systems plan to buyback stocks worth $10 billion. Starbucks reported 22% rise in sales and earnings but issued lower sales and earnings guidance for the fiscal 2008. Starbucks fell 10% at the opening in New York. Abu Dhabi Investment Authority agreed to acquire 8% stake in Advanced Micro Devices. Oil jumped 2% and gold added 1% in the early morning trading.
123jump.com Staff
16 Nov, 2007
New York City
Stocks in Japan fell on Friday and for the week. Nikkei 225 Index declined 1.5% for the week and lost 1.6% on Friday to close at 15,154.61. The Deputy Gevernor of the Bank of Japan said that the weakness in the U.S. housing market may hurt exporters in Japan but there are no signs of that for now. Real estate companies fell sharply after home sales fell in Tokyo.
123jump.com Staff
15 Nov, 2007
New York City
U.S.stocks fell sharply in the late afternoon as worries related to housing market resurfaced. Wells Fargo issued a dire outlook for the housing market in the year 2008 and hinted that the prices may fall further. Barclays also revised its write-down of loans related to housing market. Housing, banking, and brokerage stocks fell sharply. European markets closed lower on the worries that the U.S. economy may slowing faster than anticipated.
123jump.com Staff
15 Nov, 2007
New York City
U.S. stocks trended lower after thirty minutes of trading on inflation report and cautious outlook from J C Penney. October consumer price index rose 0.3% and core index excluding fuel and energy cost 0.2%. The initial claims of unemployment rose at the end of last week. JC Penney reported lower than expected earnings and lowered its earnings forecast for the fourth quarter. Barclays reported write-down in its sub-prime related assets.
123jump.com Staff
15 Nov, 2007
New York City
Stocks in Mumbai, India traded lower a day after record one-day gain. Sensex fell 144.17 or 0.7% to close at 19,784.89 and CNX Nifty declined 0.4%. Trading volume on two exchanges reached a high of 30,000 crore rupees or $7.5 billion. International investors continue to pour money in the stock market while domestic investors cash out. Bharti Airtel, Reliance Capital, and L&T increased but IT and software services stocks declined. Rupee traded at elevated level.
123jump.com Staff
15 Nov, 2007
New York City
Nikkei 225 index declined 0.7% to close at 15,396 but broader index Topix increased 1.2% to 1,498. Demand for services declined in Japan as factory orders declined. Demand for financial, wholesale, and communication services led the decline in overall services. Yen edged lower against dollar at trades at elevated level. Rise in oil lifted energy stocks.
123jump.com Staff
14 Nov, 2007
New York City
U.S. stocks declined on a late-afternoon sell-off. Investors dumped department store stocks after Macys warned lower than expected revenue and same-store sales decline in the holiday season. Merrill Lynch appointed John Thain as its first outside head of the company. United Rental said that Cerberus will not carryout $7 billion buyout offer. Oil and gold rose sharply. Asian and European markets surged.
123jump.com Staff
14 Nov, 2007
New York City
U.S. stocks open higher after a day of sharp rally that lifted market averages around the world. HSBC Bank increased its loan loss provision by $1.4 billion to $3.4 billion after releasing its trading statement. Bear Stears said that it will write-down its mortgage portfolio by $1.2 billion. October retail sales rose 0.2% after revised sales in September increased 0.7%. Oil and gold jumped 2%.
