123jump.com Staff
01 Nov, 2007
New York City
Stocks in Mumbai are expected to open higher led by a rally in Asian markets. In the overnight trading, the U.S. Federal Reserve lowered the target rate by 0.5% to 4.5%, sparking a rally in the emerging and Asian markets. Dollar fell to a record low against euro and declined against Japanese Yen. Markets in Australia, Hong Kong, and Indonesia rose in the morning trading. IT, retail, and infrastructure stocks are likekly to trade higher in India. Sensex Jumped 14% in October.
123jump.com Staff
31 Oct, 2007
New York City
The Federal Reserve in the U.S. lowered the target rate by 0.5% to 4.5% ahead on economic slow-down. The Bank of Japan left its interest rates unchaged at 0.5% and lowered its estimates of 2007 economic grwoth to 1.8% from 2.1%. U.S. third quarter GDP grwoth rate was reported at 3.9% and lower rates helped market averages to close higher. European stocks closed higher led by banks. Asian markets closed mixed. MasterCard surged on 63% rise in net income.
123jump.com Staff
01 Nov, 2007
New York City
Stock in the early trading in New York are sharply lower after weaker than expected earnings from Exxon Mobil and renewed worries related in the housing market. Exxon Mobil reported profit decline of 10% on 2.8% rise in revenue. Credit Suisse reported 31% decline in profit on 2.2 billion loss in the mortgage and leveraged loans. Oil and gold fell in the early trading. Citigroup lost 7% after an analyst downgrade and speculated on dividend cut.
123jump.com Staff
01 Nov, 2007
New York City
Stocks in Japan rose on the stronger than expected third quarter U.S. economic growth and the Federal Reserve decision to lower the target rate by 0.5% to 4.5%. Earlier the Bank of Japan had left its interest rates unchanged to 0.5% and lowered its economic growth estimate for the fiscal 2007. Yen in Tokyo trading edged higher. New Housing starts fell in September, a decline for the second months in a row, on a new building code requirements.
123jump.com Staff
31 Oct, 2007
New York City
The Fed lowered its target rate to 4.5% for. Of the ten voting members of the Open Market Committee, only one dissented to keep the rate same. The expectations of lower rate was widely expected by the market. Dollar traded weak in the morning and fell to another record low against euro on the decision. Oil surged above $94 after the rate cut. The Fed signaled that while the economic grwoth in the third quarter was strong, the growth is liklely to fall in the coming quarters.
123jump.com Staff
31 Oct, 2007
New York City
In the morning trading U.S. stocks edged higher. Third quarter GDP grwoth rate was reported at 3.9% higher than estimated by most economists. The Federal Reserve is expected to release is interest rate decision this afternoon. Investors and Wall Street is forecasting a rate cut between 25 and 50 basis points. Overnight, the Bank of Japan left its rate unchaged at 0.5%. MasterCard soared after reporting a sharply higher earnings of $2.31 per share.
123jump.com Staff
31 Oct, 2007
New York City
The Bank of Japan left the interest rates unchanged at 0.5% by 8 to 1 vote. The Central bank also lowered its annual economic outlook for fiscal 2007 to 1.8% from 2.1% and widened the range for the fiscal 2008. Stocks in Japan rose after the bank decision. Separately wage survey showed that September wages fell 0.5% and monthly hhours worked per person declined 2.3%. Auto parts maker, Denso rose after predicting higher net income.
123jump.com Staff
30 Oct, 2007
New York City
Stocks in Autralia on Wednesday morning are expected to open lower reflecting general weakness in European and American markets. Australian dollar is trading near 92 cents to an American dollar, record high on the expectations that interest may be heading lower in the U.S. Oxiana, copper and gold miner said that its capital cost for Prominent Hill project is likely to be 30% higher.
123jump.com Staff
30 Oct, 2007
New York City
U.S. stocks fell ahead of rate decision by the Fed and weaker than expected outlook from Procter & Gamble. Three popular averages declined in the afternoon trading as oil and gold declined. Liz Claiborne earnings fell 65%. Merrill replaced its chief executive ater reporting subprime mortgage loss of $8.5 billion. European markets fell across the region. UBS reported quarterly loss of 830 million swiss francs. Dassaut Systems, Michelin, Statoil, and Norsk Hydro fell after reporting earning.
123jump.com Staff
30 Oct, 2007
New York City
Sensex in India fell nearly 1% after the Reserv Bank of India took steps to drain liquidity from the market. RBI increased the capital reserve ratio for banks by 0.5% to 7.5% and left the interest rates unchanged. The steady fund flows from the international markets has lifted rupee against dollar. RBI move is likley to curb the inflation.
123jump.com Staff
30 Oct, 2007
New York City
U.S. stocks open lower ahead of the Fed meeting to decide rate direction by tomorrow. Procter & Gamble reported fourth quarter earnings increased 14% and Colgate Palmolive earnings increased 22%. Liz Claiborne earnings plunged 65%. European markets are on the decline across the region on weaker than expected earnings from Norsk Hydro, Dassault, and Michelin. Asian markets declined. Shanghai soared for the second day of this week.
123jump.com Staff
30 Oct, 2007
New York City
Stocks in Tokyo edged lower after a sharp rally on Monday. The government reported that monthly household expenditure increased 3.2%, income rose 0.8%, and disposable income increased at 0.4%. The Labor Force Survey reported that the number of people not employed declined 3.9% to 2.69 million. Takeda, largest pharmaceutical company in Japan, fell 13% after it halted trials on cholesterol lowering drug and delayed filing for the memory-loss treatment drugs with the U.S.
123jump.com Staff
29 Oct, 2007
New York City
U.S. stocks edged higher in anticipation of a rate cut this week. Markets in Europe gained as well. Asian markets surged on a rate cut expectations in Japan, Australia, and India. Central banks in Australia, India, Japan, and the U.S. are likely to lower rates or leave them unchaged. Last week Mexico increased the rate by 0.25%. Gold and oil reached new highs as dollar fell to a record low against euro.
123jump.com Staff
29 Oct, 2007
New York City
Stocks in India surged agains reflecting a trend prevalent in the market for the last weeks. Sensex added 3.8% or 734.50 to close at 19,977.67 and reaching an intra-day high of 20,024. Sensex in the last five weeks has surged a whopping 42% standing at the second best performing market in Asia. State Bank of India, Maruti Suziki, and BHEL reported sharply higher earnings lifting the trading sentiment in the morning.
123jump.com Staff
29 Oct, 2007
New York City
Stocks after thirty minutes of trading retained a positive bias in New York. European markets at mid-day are trading nearly 0.7% higher acorss the region. In Asian trading India, Hong Kong, Korea, and Thailand surged. Oil traded above $93 per barrel and dollar fell to a record low against euro. Merrill Lynch fell a fraction after news report suggested that its chief executive may be forced out as early as today.
