123jump.com Staff
09 Aug, 2007
New York City
Fears of subprime gripped the market in the last hour of trading in New York. The averages suffered steep losses with no resistance in the final minutes. Dow, S&P 500 fell nearly 3%, and Nasdaq dropped 2.2%. The Fed and European Central Bank injected liquidity in the market. Wal-Mart reported July same store sales rise of 1.9%, that at Target increased 6.1%, and at Costco advanced 7%. European markets fell 2% across the region. Shanghai closed at record level for the third day in a row.
Elena
09 Aug, 2007
New York City
European stock markets closed steeply in the red on Thursday on growing concerns of slowing global economy due to troubles in U.S. credit markets. The subprime jitters were sparked by news that French bank BNP Paribus will suspend redemptions from three U.S. security backed funds because it was unable to properly value their assets. France led decliners with a drop of 2.2%, followed by Germany, down 2%, and the U.K. losing 1.9%.
123jump.com Staff
10 Aug, 2007
New York City
Tokyo index fell more than 2% with indexes in Asia fell across the region. The Central Bank had to step in to provide liquidity and stem the rsiing interest rates. Reserve Bank in Australia joined other central banks in the world to stem the rising interest rates. Shipping lines, banks, financial and brokerage companies stocks led the decliners.
Elena
10 Aug, 2007
New York City
Quarterly net income rose to $172.7 million, or 43 cents per share, up from $86.8 million, or 22 cents per share a year ago. Company
Elena
09 Aug, 2007
New York City
Renewed mortgage markets worries sent U.S. market averages sharply in the red, with the Dow sliding more than 240 points. The subprime jitters were sparked by news that French bank BNP Paribus will suspend redemptions from three U.S. security backed funds because it was unable to properly value their assets. Tension intensified after a move by the ECB to provide more cash to credit markets. The Fed Reserve added $12 billion to U.S. markets to help ease liquidity constraint.
Elena
10 Aug, 2007
New York City
U.S. stock futures predicted another day of heavy losses Friday, extending the steep decline from the previous session amid constantly growing credit market worries. On Friday, market received a fresh flow of cash by overseas central banks. The ECB injected 61 billion euros in a tender auction, and the central banks of Japan and Australia poured in roughly $12.5 billion. According to Citigroup, investors using quantitative strategies or computer models are experiencing a lot of difficulties.
123jump.com Staff
09 Aug, 2007
New York City
Sensex drops 1.4% on sharp fall in afternoon tradning tracking other markets in Asia. Bhel received orders to bulid three power plants worth 2,900 crore rupees. Reliance Communication completes its private plaacement of $340 million in its infrastructure unit. Banks, IT, and cement stocks led the decliners.
Elena
09 Aug, 2007
New York City
Wall Street posted heavy losses at opening Thursday, pressured by renewed global worries about credit markets. The jitters were sparkled by news that French bank BNP Paribas suspended three funds, blaming a lack of liquidity in the U.S. subprime mortgage market. After the news, the ECB said it allocated 94.841 billion euros to 49 bidders in a one day quick tender at 4% to add liquidity to the money market.
Elena
09 Aug, 2007
New York City
.S. stock futures pointed steeply lower in pre-market trading Thursday, as credit market worries resurfaced after French bank BNP Paribas suspended three funds, blaming a lack of liquidity in the U.S. subprime mortgage market. S&P 500 futures lost 15.90 points at 1,488.00 and Nasdaq 100 futures fell 13 points at 1,986.25. Dow industrial futures gave up 115 points.
123jump.com Staff
09 Aug, 2007
New York City
Asian markets rebounded with a third record close in Shanghai. Hong Kong fell a fraction after scoring the largest single day gain in six years. Banks lifted the indexes in the China region. Australia gained for the record day. Jobless rate in Australia fell to 4.3%. Pakistan fell sharply on the worries that emergency rule may be imposed. Korea Bank raised the rates to 5%.
123jump.com Staff
09 Aug, 2007
New York City
Market averages in Tokyo gained for the third day in a row on better than expected earnigs and weak yen lifting export sesitive stocks. Fast Retailing surged 10% after dropping its bid for Barneys New York. Oki Elecric led the Nikkei 225 stocks with a rise of 11%. Of the 225 stocks in the index, 144 gained and 79 declined. Japan Tobacco lifted its full year earnings forecast on recent acquisition. Shanghai gained 2%, Australia added 1%, and Thailand fell 2.3%.
123jump.com Staff
08 Aug, 2007
New York City
Tech stocks surge broadened to financials and retail stocks led the averages in New York higher. The broad rally lifted 16 of the 30 Dow stocks and 270 in S&P 500 stocks. Cisco earnings and higher revenue guidance helped tech stocks at the opening. Toll Brothers revenue declined but stock rallied 4% lifting other home builders. European markets rallied on the back of New York strength. Brazil jumped 2.5%. Asian markets rebounded led by Indonesia and Singapore. Tokyo edged 0.6% higher.
Elena
08 Aug, 2007
New York City
European stock markets closed sharply higher Wednesday for a second day in a row, lifted by strong corporate results and optimism that U.S. economy will continue to grow regardless of the current credit-market worries. The Federal Reserve''s decision to keep U.S. interest rates unchanged also provided a boost to the sentiment. Across the region, France posted the biggest gain, up 2.3%, followed by the U.K. which rose 1.4%, and Germany, closing up 1.3%.
Elena
08 Aug, 2007
New York City
U.S. market averages rallied Wednesday, benefiting from solid gains in the technology sector, financial and homebuilding stocks. Investors got a relief from the Fed Reserve''s assurance that the economy will keep growing at a moderate pace, despite the current unfavorable credit environment. The Dow Jones industrial average rose more than 100 points. The Nasdaq surged 2%.
Elena
08 Aug, 2007
New York City
Wall Street advanced at opening Wednesday, boosted by an improved revenue outlook from Cisco Systems along with reassuring assessments about global economic growth amid credit markets troubles. Cisco jumped 5% on 25% earnings rise in Q2, followed by Bear Stearns upgrade to outperform from peer perform. Toll Bros said its Q3 home-building revenue fell 21% from a year earlier to $1.21 billion amid a slowing housing market and subprime worries. The stock gained 4.4%.
