123jump.com Staff
16 Dec, 2008
New York City
U.S. stocks rallied on the hopes that lower record rates will spur economic activities. The Fed has expanded its balance sheet by 200% in the last eighteen months and promised more lending by printing money. The tentacles of Fed have spread in many sectors of the U.S. economy.
123jump.com Staff
16 Dec, 2008
New York City
The Fed cut rates to the lowest level possible and raised prospect of lower prices and providing more liquidity by printing money. The Fed lowered the key lending rate from 1% to a range between zero and 0.25%. Financials and insurance companies rallied as stock indexes jumped more than 3%.
123jump.com Staff
16 Dec, 2008
New York City
UK inflation drops to 4.1% in November on a decline in energy prices. But, volatile food and produce prices jumped. Energy stocks rose after Iran and Venezuela favored production cut to support oil prices. Mining companies declined after Xstrata suspended production at a mine in Australia.
123jump.com Staff
16 Dec, 2008
New York City
Mumbai trading sentiment was lifted on a rise in foreign investment in financial markets. December month investment rose to 2,181 crore rupees. Foreign direct investment in October dropped 26% but is still expected to reach $35 billion according to the commerce minister Nath.
123jump.com Staff
16 Dec, 2008
New York City
Australian market averages plummeted led by Macarthur Coal after the company lowered its first half profit forecast. Macarthur Coal dropped 22% on the new estimate and lowered estimate. Stock market index dropped 1% on the weakness in mining sector.
123jump.com Staff
16 Dec, 2008
New York City
In Tokyo stock indexes fell 1.1% ahead of the rate decision in the U.S. Market also awaited for clues from earnings of Goldman Sachs. Toyota Motors is expected to seek price reduction from steelmakers as early as January. Mitsubishi Corp acquired 4.6% stake in AEON and develop business in Japan.
123jump.com Staff
16 Dec, 2008
New York City
Hong Kong stocks edged up on the hopes that China will provide more incentives for insurance sectors and lower taxes for vehicle purchase. China Cosco, ocean freight company reported hedging loss of Rmb4 billion. Automakers and insurance companies led the gainers in trading.
123jump.com Staff
15 Dec, 2008
New York City
U.S. stocks fell after weak industrial production data in November. Home buidlers dropped sharply after a rating agency lowered debt ratings of nine companies. Business conditions in Japan decline the most in 34 years. Chinese industrial production rises at the slowest pace in seven years.
123jump.com Staff
15 Dec, 2008
New York City
United Natural reported quarterly net sales increased 17.4% to $864.2 million. Income declined to $13.25 million or $0.31 per share, compared to $13.56 million or $0.32 a share year ago. United expects fiscal earnings per share between $1.30 and $1.38.
123jump.com Staff
15 Dec, 2008
New York City
The apparel retailer, Gap Inc reported net earnings of $246 million in the quarter or $0.35 per share compared to $0.30 last year. Third quarter net sales declined 8% to $3.56 billion and comp store sales dropped 12% in the quarter compared to a decline of 5% in the quarter year ago.
123jump.com Staff
15 Dec, 2008
New York City
Stocks in Sydney rose on the expectations that U.S. auto industry bailout will spur exports of raw materials. However, Australian government agency cut its forecast of commodities exports forecast by 10% to A$192 billion. One Australian dollar fetched 66.48 U.S. cents.
123jump.com Staff
15 Dec, 2008
New York City
Japan business conditions decline in the latest three months ending in December. The sharp decline in 34 years is likely to hit the hardest small and medium size businesses and exporters. However, yen rose against the dollar and stock indexes surged on the U.S. auto bailout prospects.
123jump.com Staff
15 Dec, 2008
New York City
Chinese industrial production in November rises at the slowest pace in seven years. The sharp fall in global economies has dragged exports and domestic economy. Stocks in Hong Kong and Shanghai rose after China indicated that 3G telecom licenses will issued by the end of the year.
123jump.com Staff
15 Dec, 2008
New York City
UK home prices dropped in December and are likely to fall further in the next year, according to a private survey conducted by Rightmove. The survey estimates rising distressed sales in the next twelve months. In trading, stocks edge higher on a rebound in metal and oil futures.
123jump.com Staff
15 Dec, 2008
New York City
Stocks in Mumbai rose on the expectations of another round of economic stimulus. Weak financial markets dragged merchant banking fees by 36% in the first eleven months of the year. Shipping industry stocks rose on the expectations of interest rate subsidy from the government.
