Elena
24 Aug, 2007
New York City
Wall Street market sentiment received a boost from a larger-than-expected increase in new home sales in July which helped ease recent worries about credit markets. The Commerce Department said that sales of new home rose 2.8% in July to a seasonally adjusted annual rate of 870,000, stronger than the 820,000 annualized pace expected by economists.
123jump.com Staff
24 Aug, 2007
New York City
Asian markets rose sharply for the week even after a mild loss on the last day of the week. Shanghi and Hong Kong led the region with gains of 12%. The Bank of China fell in Hong Kong trading but rose in Shanghai trading after reporting exposure of $10 billion in subprime loans. Insurance Australia, largest auto insurer, fell 7% after reporting 31% decline in profit. For the week Australia rose 7.4% and Japan gained 6.4%.
Elena
24 Aug, 2007
New York City
Wall Street opened near the flat line,reflecting a stronger-than-expected durable goods data and nervousness ahead of new home sales report. Tech stocks were weak in early trading, with Marvell Technology Group falling 11% after it offered a soft gross margin forecast. Other notable decliners were Research In Motion and Microsoft, losing 1.4% and 0.5%, respectively.
Elena
24 Aug, 2007
New York City
U.S. stock futures were indicating a positive opening Friday, as stronger-than-expected durable goods orders helped offset concerns about slowing housing market. The Commerce Department said that July orders for durable goods surged 5.9% on higher demand for airplanes, vehicles, computers, machinery, steel. Investors were also expecting a report on new home sales for July which is likely to show they continued falling at an annual rate of 820,000 homes.
123jump.com Staff
24 Aug, 2007
New York City
Nikkei 225 index fell on the last day of the week. investors are increasingly factoring housing market led economic slowdown in the U.S. Worries of slower earnings growth for exporters led the indexes lower in Tokyo trading. Of the 225 stocks in the index, 158 declined signaling a broader sell-off. Daily turnover in the first section was recorded at 2.3 trillion yen. The firming trend in yen against dollar continued.
123jump.com Staff
23 Aug, 2007
New York City
Market averages in New York opened higher but lost the momentum in the afternoon trading. Weekly unemployment in the U.S. fell 2,000 to 322,000 at the end of the last week as expected. Bank of America invested $2 billion in Countrywide expressing the vote of confidence in the mortgage market. The Reserve Bank of Australia pumped more liquidity in the system. Isetan and Mitsukoshi in Japan agree to merge. Cement companies in India rally. ICBC Bannk and the Bank of China reported higher profit.
123jump.com Staff
23 Aug, 2007
New York City
Banks and mortgage lenders recovered in London trading but broader market budged little. FTSE 100 index closed up 0.02% on light volume. The UK antitrust regulator said that price control on banking products for small businesses will be lifted after four years of ban. Business investment in the second quarter rose only 0.8%. Manufacturing investment declined 5.7% from the first quarter. Pound jumped above $2 on the hopes that the rates in the UK will rise.
123jump.com Staff
23 Aug, 2007
New York City
Asian markets closed higher led by a sharp rise in Hong Kong, Indonesia, and Australia. The Bank of Japan left rates unchanged at 0.5%. Stocks in China rose on strong earnings from ICBC and the Bank of China. Australian stocks jumped on rising metal prices and calmer local credit markets. The Reserve Bank of Australia added smaller liquidity to the system.
123jump.com Staff
23 Aug, 2007
New York City
At the opening in New York, stocks displayed investors enthusiasm.The $2 billion investment from Bank of America in Coutrywide was seen as a vote of confidence by the market. The gains at the opening quickly fizzled after thirty of minutes of trading. In international markets, European stocks ganied a fraction led by rise of 0.7% in Germany and France. In overnight trading the Bank of Japan left the rates unchaged at 0.5%. Several markets in Asia rallied neaer 3%.
123jump.com Staff
23 Aug, 2001
New York City
Sensex in India fell sharply in the afternoon trading after the Communist Party passed resolution to oppose nuclear deal with the U.S. The sharp division in the ruling coalition is likely to further complicate the workings of fragile coalition headed by the Congress Party. The specter of fresh election was on the minds of investors. Left parties, Congress, and BJP are at odds but neither prefers to return to general election. Asian markets rallied led by Japan and Hong Kong.
123jump.com Staff
23 Aug, 2007
New York City
Nikkei 225 index in Tokyo rose sharply after the Bank of Japan left the rates unchanged. The stocks rallied and yen gained against dollar after the rate decision. Isetan agreed to buy department store chain Mituskoshi for 295 billion yen. The retail industry is consolidating rapidly on declining retail sales and population. Separately, supermanrket sales in July fell 2.8%. Of the Nikkei 225 stocks 202 gained.
123jump.com Staff
22 Aug, 2001
New York City
Market averages in new York closed up, 1% higher on merger news. Dubai World agreed to invest in MGM Mirage. E*Trade and Ameritrade explore merger. Oil and natural gas fell. Subprime lending industry laid off 3,500 people and more layoffs are expected. Shanghai closed at a record level as retail investors open more accounts. Japan Prime Minister visiting India, proposed to grow trade five-fold in ten years.
123jump.com Staff
22 Aug, 2007
New York City
Stocks in London rallied on mining stocks and cautious interest in banks.Factory orders index for August month rose to 12-year high and indeciated the prices may be increasd. BHP reported record earings in the second half and for the year. Earnings rose 16% to $7.2 billion on sales increase of 21% to $47.5 billion. For the full year earnings rose 28%. Reuters jumped on broker recommendation.
123jump.com Staff
22 Aug, 2007
New York City
Stocks in Asia firmed after a week of volatile trading but nervousness persisted in trading. Singapore, Shanghai, India, and Hong Kong led the rise in the region. China Vanke, the largest real estate in the country, plans to raise $1.3 billion. China Citic earning jumped 87%. Rising metals prices lifted stocks of mining companies in India, China, and Australia. BHP Billiton profit rose 28% and Toll Holdings earnings surged 500%.
123jump.com Staff
22 Aug, 2007
New York City
Sensex in india rallied and recovered from a sharp loss in previous session. Banks traded lower. Airlines stocks rallied on the news that Deccan plan to hike fares and Kingfisher and Jet Air plan to expand route network in the U.S. and Europe. Bhel jumped on the receipt of 6,500 crore rupees order from Damodar Valley. Reliance Energy and Bharti Airtel gained.
