123jump.com Staff
08 Nov, 2007
New York City
U.S. stocks fell in the early morning trading as investors faced a barrage of news. Same store sales declined in October with Wal-Mart reporting 0.4% rise. Nordstrom, J C Penney, and Limited sales fell. Cisco reported rising sales and earnings but warned a weakness in financial services sector. Ford reported lower losses but North American automotive segment remained weak. AIG and Morgan Stanley reported losses in loan portfolio. China, Hong Kong and Jpan fell sharply.
123jump.com Staff
08 Nov, 2007
New York City
Tokyo stocks fell 2% as more losses were reported in the U.S. on sub-prime lending. Nikkei 225 index fell sharply on the worries that the widening losses in the mortgage securties is increasingly likely to slow down the U.S. economy and slow the earnings growth of the Japanese companies. Yen rose against dollar. Kirin agreed to acquire Natioal Foods based in Australia. September machinery orders declined 7.6%.
123jump.com Staff
07 Nov, 2007
New York City
U.S. stocks fell sharply across various market caps and sectors as market was grippped by sub-prime worries. Dow Jones, S&P 500, and Nasdaq dropped more than 2.5%. New York Attorney General started an investigation involving sale of subprime loans to Fannie Mae and Freddie Mac from Washington Mutual. General Motors reported worst quarterly loss in its history and Toyota reported the second best quarter ever. Gold reached to a new peak and oil fell after the weekly inventory report.
123jump.com Staff
07 Nov, 2007
New York City
U.S. stocks lost 1% in the morning trading. Oil reached a new high in Asia but fell in New York after weekly inventory report. Gold and silver reached a new three-decade high on falling dollar. Dollar declined against euro and pound after the comments fromt the Chinese official. General Motors reported its largest quarterly loss ever on non-cash charges. On operating basis GM lost more money in the third quarter and Toyota reported second best quarterly profit ever.
123jump.com Staff
07 Nov, 2007
New York City
Gains in big mining stocks, riding on the back of increases in oil and metal prices, helped the index to remain in the positive for the second day. ASX 200 index was up 1% to close at 6,682.40. Reserve bank of Australia raised interest rates by 25-basis points to 6.75%. Wesfarmers received 99% of shareholders approve to acquire retail chain Coles. Telstra shareholders disapproved executive perks. Australian dollar jumps to 23-year high.
123jump.com Staff
07 Nov, 2007
New York City
Stocks in Japan fell as investors worried that rising commodities and oil prices may hurt the consumer. Yen firmed against dollar. Nikkei 225 index fell 153 to 16,096. Japan reported foreign reserve balance at the end of October increased to $954 billion. Toyota Motors second quarter net income rose 11%. Softbank earnings surged 64%, and Yamada Denki profit increased 31%. Dollar continued its slide against Asian currencies and euro.
123jump.com Staff
06 Nov, 2007
New York City
U.S. stocks closed higher on late rally in tech stocks. Nasdaq jumped 1% at close and lifted broader index S&P 500 by more than 1% and Dow Jones Industrial Average by 0.7%. Resource stocks reached a new high lifted by three decade peaks in silver and gold. Oil closed at a record high on oil production shut down in North Sea. MasterCard, Google, and Exxon Mobil surged. Asian markets closed higher led by a rebound in Asia. European markets closed higher led by resource stocks.
123jump.com Staff
07 Nov, 2007
New York City
Sensex declined for the third day in a row on rising rupee, weak IT sector, and worries related to foreign fund flows. Sensex fell 0.6% to close at 19,289. IT stocks fell for the third day as rupee continued to climb against dollar. Rupee closed at 39.16 against a dollar. Infosys fell 5.8%, Wipro declined 2%, and Satyam fell 4%. Cognizant dropped 20% after reporting revenue rise of 48%. Banks lost ground led by a decline of 5% i HDFC Bank.
123jump.com Staff
06 Nov, 2007
New York City
Tokyo stocks edged lower at close, bucking the regiona trend of rising stocks. Nikkei 225 index fell 0.12% to 16,249.63. An index of leadin economic indicators fell to 0%, reflecting a recessionary sentiment among business professionals. The Coincidence Index fell to 66.7% and Lagging Index dropped to 25%. The Ministry of Finance revised its wheat an barley budget by 23% to cover the shortfall on rising prices. Japan Airlines revised its outlook for the fiscal 2008.
123jump.com Staff
06 Nov, 2007
New York City
U.S. stocks in early trading traded higher on the strenght in tech and resource stocks. Markets in Asia closed higher and in Europe edged higher on rising metal prices. Sun Micosystems fell 5% after reporting lower than expected earnings and sales increase of 1%. ADM reported 9.4% increase in earings on 36% rise in sales. Asian markets closed higher and European markers edged higher at mid-day trading. Gold edged to a record high.
123jump.com Staff
05 Nov, 2007
New York City
Stocks in the U.S. edged lower under the new mortgage securities related charges from Citigroup. The news did greater damage to market averages in Asia, Europe, and emerging markets of Latin America. Gold and silver rose. Oil fell from the peak but traded near elevated levels. Citigroup decided to write-down between $8 billion and $11 billion in mortgage securities reflecting the correction in values of these loans as of Sept 30th. PetroChina IPO tripled on its first day of trading in Shanghai.
123jump.com Staff
05 Nov, 2007
New York City
IAC/InterActiveCorp finally broke the company up in five separate units with its own capital structure and management. The long sought after breakup of the company came after a bitter strugle between Barry Diller, chief executive of the company, and its largest shareholder, John Malone. IAC stock rose as high as 10% after the break-up news.
123jump.com Staff
05 Nov, 2007
New York City
Australian stocks fell reflecting weakness in Asian tradig. ASX 200 closed 1.7% lower to 6,582.30 after banks fell sharply. Citigroup asked its chief executive to retire and lowered its subprime mortgage portfolio between $8 billion and $11 billion. The sharp write-down prompted worries that the other banks and brokerages may report higher losses in the coming quarters. Nufarm agreed to an exclusivity for an offer form Chem China which valued the company at 30% higher than market price.
123jump.com Staff
05 Nov, 2007
New York City
Market averages opened sharply lower after Citigroup replaced its chief executive and reported more losses in its subprime loan portfolio. Dow, Nasdaq, and S&P 500 fell more than 0.5%. In the overnight tradig Asian markets fell. Hong Kong led the decliners with a loss of 5% on the worries that fund flows from mainland China to Hong Kong market may be delayed. Oil and gold held firm in the early trading.
123jump.com Staff
05 Nov, 2007
New York City
Sensex in Mumbai trading fell nearly 2% after markets in Asia closed lower. Banks led the decline in Mumbai and in Asia. Hong Kong and Pakistan led the region with a loss of 5%. Mundra Port and SEZ initial public offerig was oversubscried seven times on the third day of its listing period. Relance Naural surged 25%.
