123jump.com Staff
20 Aug, 2007
New York City
Asian markets rebounded sharply on the rate cut in the U.S. and strength in the European markets. Indonesia and Hong Kong led the regional indexes with a gain of more than 6%. Shanghai jumped 5% and India added 2%. Banks, metals and mining stocks, and shipping lines led the rally in the region. HSBC is in a deal to buy controlling stake in Korea Exchange Bank. Yanzhou and China Ship reported higher than expected earnings. The Reserve Bank of Australia adds liquidity in the market again.
Elena
20 Aug, 2007
New York City
U.S. stocks reversed from earlier gains to trade near the flat line, with investors speculating on the Federal Reserve''s next move. Hopes of further interest rates cuts were raised by another report of trouble in the subprime mortgage market. Residential-mortgage lender Thornburg Mortgage dropped 11% after it said it sold a considerable part of its triple-A-rated mortgage securities portfolio. Nasdaq Stock Market rose 3.6% after it said it will put its 31% stake in the LSE for sale.
123jump.com Staff
20 Aug, 2007
New York City
Nikkei 225 in Monday trading jumped 3% after the rate cut in the U.S. Other exchangs in the region gained as well. Hong Kong, Indonesai, Korea, and Singapore jumped 6% or more. Among th stocks in the Nikkei 225, 50 stocks jumped more than 5%. Japan and Indonesia are in a deal to lower tariff on exports and increase investment in the mining and metals sectors.
Elena
20 Aug, 2007
New York City
Wall Street opened higher, extending gains from Friday rally. Market benefited from continuous relief that the Fed Reserve cut its discount rate and optimism of further interest rates reduction. Investors tried to assess the real impact of the Fed''s moves, as most of the gains Friday were due to hedge funds buying shares to cover their positions.
Elena
20 Aug, 2007
New York City
U.S. stock futures predicted higher opening Monday, boosted by the favorable effect of the Fed Reserve''s move last week to cut its discount rate, hinting that it could reduce its key interest rate, too. Among companies in focus, Countrywide Financial reportedly began laying off staff involved in originating loans. Company''s shares traded up 6% in pre-open trade. Crude oil will also be in the spotlight.
Elena
20 Aug, 2007
New York City
The retailer earned $1.02 billion, or 67 cents a share, higher than $935 million, or 60 cents a share a year earlier. Quarterly revenue rose to $14.17 billion from $13.39 billion last-year same period. Lowe
123jump.com Staff
17 Aug, 2007
New York City
Market averages in New York rebounded on the hopes that the Fed fund rates will be lowered after the cut in discount rate today. The Fed action to lower the rate by 50 basis points is expected to improve liquidity in the commercial paper and asset backed mortgage markets. The yields in the commercial markets are still above the Fed target rates. Stocks in New York and Europe rallied after the Fed action. Gold and oil jumped higher. Hong Kong reported faster than expected economic growth in q2.
123jump.com Staff
17 Aug, 2007
New York City
In a volatile week in London, FTSE 100 index registered one day gain and loss 4-year record and closed up a fraction for the week. The index gained 3.5% today led by a rise in banking and mining stocks. Of the 102 stocks in the index, 100 gained and 2 fell after a day when all stocks in the index fell. Standard Life led the index stocks with a gain of 7%. Indexes in France and Germany gained but in that in sweden fell.
Elena
17 Aug, 2007
New York City
European stock markets rebounded from steep declines in the previous session to close notably higher Friday. Markets rallied after the Federal Reserve cut the U.S. discount rate by half a point to 5.75%, trying to ease concerns over liquidity. European financials surged after the announcement. London soared 3.5%, followed by France which gained 1.9% and Germany, rising 1.5%.
Elena
17 Aug, 2007
New York City
U.S. market averages kept trading higher but erased some of the earlier gains, with investors mulling over the impact of the Fed''''s move to cut its discount interest rate, trying to ease concerns over liquidity. Bank stocks were among the most notable gainers, with JP Morgan Chase Co. rising 3% and Citigroup, moving up 1.6%.
123jump.com Staff
17 Aug, 2007
New York City
Asian markets closed sharply lower as investors dumped stocks. With the strength in the European markets, major indexes in Asia recovered some of the losses. Indonesia and Japan led the region with losses of 5.9% and 5.4%. South Korea dropped 3.2% and India closed 1.5% lower after opening with a loss of 4%. Hong Kong fell 1.4% but lost nearly 6%. Volatililty grippesd markets across the region.
123jump.com Staff
17 Aug, 2007
New York City
Sensex in India plunged 4% at the opening but managed to recover in the afternoon trading. The volatility in the U.S. market inflicted damages to markets around the world. Sensex closed 1.5% or 216 points lower to 14,141.52. The index for the week lost 6%. Of the 30 stocks in the index 26 declined and rest gained. Software exporters led the declilners. Satyam Computer fell 6%, Infosys and TCS dropped 3%. Wholesale inflation declined to 4.05% for the week ending on August 4th.
Elena
17 Aug, 2007
New York City
Wall Street surged at opening Friday, recovering from the multi-year slump seen over the past week amid continuous turmoil in the credit markets. Market returned back to normal trading after the Fed Reserve reduced its discount rate on loans to banks by half a point to 5.75%, thus easing liquidity worries. The Dow Jones jumped over 300 points. European stocks also took relief on the news to achieve a substantial recovery of 3% in the positive.
123jump.com Staff
17 Aug, 2007
New York City
Nikkei 225 Index fell to six-year low after plunging 5.4% or 874 points to 15,273.68. Export sensitive stocks led the decline in the market. Of the 225 stocks in the index, 200 stocks fell and only 23 managed to gain, 33 stocks fell more than 10%. Yen firmed to 111 against dollar. The Bank of Japan injected addditional 1.2 trillion yen of liquidity in the market.
Elena
17 Aug, 2007
New York City
U.S. stock futures rallied on Friday, recovering from steep losses in the previous session amid growing credit markets worries. The rebound followed an unexpected move by the Federal Reserve of reducing the discount rate by half a percentage point to 5.75%, trying to relieve investors'' fears about market liquidity. The Fed cut the rate that it charges member banks for loans.
