Ivaylo
18 Jun, 2007
New York City
Gold and silver futures advanced modestly on Friday after U.S. government data showed tamer consumer-level inflation, which suggested the Federal Reserve is unlikely to raise interest rates. Grain prices also gained, lifted by weather-related concerns and ever-surging ethanol demand. It was a stron week for commodities with gold climbing 1.3% higher and copper surging 4.9%.
123jump.com Staff
15 Jun, 2007
New York City
New York rally was built on the hope that mild core inflation data will keep consumers in the spending mood. U.S. also reported first quarter current account deficit of $192 billion. Nymex rallied on merger rumors and Intel rose on upgrade from Goldman Sachs. European stocks rallied led by German banks. Banks in Hong Kong led the index higher. Shanghai and Brazil surged more than 4% in the week. Tokyo Stock Exchange buys 5% stake in Singapore Exchange. Bank of China to issue yuan bonds in HK.
Elena
15 Jun, 2007
New York City
Wall Street opened higher Friday, with the three major averages accelerating quickly to climb 1% soon after the market opening. The rally was fueled by the release of some relatively tame inflation data. Consumer prices rose 0.7%, their fastest pace since September of 2005, while core consumer prices showed a much more modest increase of 0.1%, coming in below analyst estimates. Intel also gave a boost, rising 3.4%after Goldman Sachs upgraded its stock to buy from neutral.
Ivaylo
15 Jun, 2007
New York City
The UK benchmark index continues to trade at record highs on strong gains at J Sainsbury on bid speculation, while stronger metal prices are giving miners a boost. William Morrison and Tesco are both well ahead in sympathy, while pub groups that also have large property interests are also going well. The benchmark FTSE 100 Index added 0.6% at noon.
Elena
15 Jun, 2007
New York City
U.S. stock futures indicated a strong opening for a third consecutive session, boosted by inflation data which helped eased recent stock and bond markets concerns. The consumer price index in May showed prices rose at the fastest pace in 20 months on higher gas prices, while core consumer prices rose a lower-than-expected 0.1%. A broker upgrade of microchip giant Intel also generated positive mood.
Ivaylo
15 Jun, 2007
New York City
Asian markets advanced, with Japanese Nikkei 225 at the forefront of advance as steelmakers and export stocks gained after the U.S. dollar sustained its rise against the yen, while Hong Kong-listed shares of China-incorporated companies recorded new highs. In Hong Kong, expectations for a removal in interest income tax on the mainland drove shares of China-based financial companies sharply higher. In South Korea, the market hit a new record on brokerage and insurance stocks.
Ivaylo
15 Jun, 2007
New York City
The benchmark index opened higher on firm global market and until noon traded in positive territory also helped by upbeat inflation data. Selling in metals and IT large-caps weighed on the market in the last hour of trading. BHEL and Maruti led the advancers, while Tata Steel and HDFC led the decliners. DLF
Ivaylo
15 Jun, 2007
New York City
European stocks were higher Friday with banks and oil groups leading the advance. EADS is also higher on government support and after a Qatar fund bought shares in J Sainsbury. As crude oil remained above $70 a barrel, oil stocks gained. In late morning trade, Frankfurt Xetra Dax added 0.6%, the CAC 40 in Paris climbed 0.4% and London FTSE 100 rose 0.6%.
Ivaylo
15 Jun, 2007
New York City
Commodities futures gained broadly on Thursday after the latest U.S. economic data, including the producer price index, alleviated investors fears of inflation. Agriculture prices rallied on worries about a damaged U.S. wheat crop. Gold and silver advanced despite the strengthening of the dollar. Industrial metals also surged supported by strong U.S. economic data concerning economic growth shown in the Fed
123jump.com Staff
14 Jun, 2007
New York City
It was a global rally. Prices paid to producers in the U.S. were reported to rise 0.9% in May. Prices excluding volatile components rose only 0.2% sparking another day of rally in New York. European market gained on rising energy and metals stocks, latin markets advanced in sympathy with New York and Asian markets closed higher on weak local currencies. The yen is now trading near 50-month high against dollar and helped to surge Korean and Japanese export companies. Shanghai corrected 1%.
Elena
14 Jun, 2007
New York City
European stock markets rallied on Thursday, making the biggest one-day advance since mid-March. A number of sectors posted solid gains, boosted by retreating bond yields. Shares of car maker Renault advanced 4.2%, conglomerate Siemens climbed 4.8% and shares of oil giant Royal Dutch Shell gained 2.7%. The U.K.''s FTSE 100 rose 1.4%, the German DAX Xetra 30 climbed 2.2%, and the French CAC-40 increased 1.9%.
Elena
14 Jun, 2007
New York City
U.S. market averages extended gains after bond yields eased despite stronger-than-expected data on wholesale inflation. Resource stocks were among the biggest gainers, with oil and oil service stocks moving higher amid a notable increase by the price of oil. Natural gas and gold stocks also continued to post strong gains. Shares of homebuilders traded mixed. Hovnanian advanced 1.4%, while Toll Brothers slipped 1%.
Elena
14 Jun, 2007
New York City
Goldman Sachs Group, the U.S. biggest investment bank, said that its Q2 profit rose to $2.29 billion, or $4.93 per share, up from $2.29 billion, or $4.78 per share a year earlier. Results beat estimates for earnings of $4.79 per share on revenue of $10.16 billion. The stock dropped 2.9%. Investment bank Bear Stearns reported Q2 profit drop of $374.6 million, or $2.52 per share, down from $558.2 million, or $3.72 per share a year ago, missing estimates. The stock fell 1.1%.
Elena
14 Jun, 2007
New York City
Wall Street opened slightly higher on Thursday after a stronger-than-expected inflation reading failed to spook the bond market. The Labor Department said wholesale prices rose 0.9% in May. Energy prices jumped 4.1%, the biggest increase in six months. Excluding food and energy, producer prices rose 0.1%. Investors had expected smaller increases of 0.6% on the headline PPI and a 0.1% increase for the core PPI.
Ivaylo
14 Jun, 2007
New York City
The market in London is buoyant at mid-day Thursday as investors considered that global bond selling is an overreaction to worries about interest rate hikes. Bradford & Bingley led the market higher on an upgrade from Credit Suisse, while miners are higher tracking stronger demand for metals and manufactured goods. At mid-day, the FTSE 100 was 0.8% higher at 6,610, notching a gain of 50.5 points.
