Elena
07 Aug, 2007
New York City
Wall Street declined at opening Tuesday amid cautiousness ahead of the Fed Reserve''s interest-rate decision and government reports which showed increased labor costs and lower-than-expected Q2 productivity. The Labor Department reported that productivity rose 1.8%, below the 2.1% gain expected by economists. Unit labor costs rose at an annual rate of 2.1%, vs. expectations of a 1.6% gain.
123jump.com Staff
07 Aug, 2007
New York City
Asian markets remaied weak on declining trading volume. Most markets in Asia traded lower but Australia and Philippines managed to climb higher. Shanghai continued to climb higher inthe face of global markets volatility emanating from the U.S. mortgage bonds weakness. Hong Kong Land reported first half profit rise of 32% on strong commercial rents in business districts. Macquarie Bank in Sydney managed to rebound. Indonesia left the key bank rate unchaged.
Elena
07 Aug, 2007
New York City
U.S. stock futures traded near the flat line Tuesday, following a strong rally the previous session when the Dow hit a 4-year high of 286 points as investors bought financial stocks that suffered weakness in earlier hours amid worries over credit markets. Traders were cautious in pre-market hours, awaiting a Federal Reserve decision on interest rates and its view on risk after the recent troubles in credit markets.
123jump.com Staff
07 Aug, 2007
New York City
In early trading in Tokyo Nikkei gained close to 1%. In the afternoon trading market average lost its gain and closed a fraction higher. Fall in oil and commodities trading related stocks and banks led the decliners. Banks and brokerage stocks opened sharply higher, nearly 3%, but lost most of the gain by the end of the day. Trend Micro, Internet security provider, revised its sales guidance for the second quarter by 11% and earings by 68%. Emerging markets in the region closed higher.
Elena
07 Aug, 2007
New York City
Harrah''s Entertainment posted 85% earnings jump in Q2 to $237.5 million, or $1.25 per share, vs. $128.6 million, or 69 cents per share a year ago, boosted by strong results in Las Vegas and Atlantic City. Quarterly results beat analyst estimates of 98 cents per share. The casino operator posted revenue increase of 14% to $2.7 billion from $2.37 billion last year.
123jump.com Staff
06 Aug, 2007
New York City
New York averages rebounded in the final hour of trading on the belief that the next Fed move will be to cut interest rates rather leave them unchaged. The rally powered by bargain hunters lifted stocks of financials, banks, retail and insurance companies. European markets closed lower and in overnight trading several markets in Asia closed 3% or more lower. Akzo Nobel and ICI are a step closer to complete their merger. Banks in Australia, Japan, and Hong Kong fell.
Elena
06 Aug, 2007
New York City
U.S. stock averages were volatile Monday, reflecting nervousness about credit markets and the impact of subprime mortgages on financial institutions. Bear Stearns, which has lost 35% of its stock market value in 2007, laid off Co-President Warren Spector, due to credit-market weakness and decreasing investor confidence at the second-biggest underwriter of securities tied to the slumping U.S. housing market. The board of the firm greed that 57-year-old Alan Schwartz will become sole president.
123jump.com Staff
06 Aug, 2007
New York City
Sensex in Mumbai trading closed 1.6% lower after recovering from a near 3% loss in the market. Banks, real estate, software exporters led the decliners. Bharti Group and Wal-Mart have formed a joint venture to build and operate network of retail stores by the end of next year. Banks fell for the third day in a row. Wipro is reported to be in a deal to acquire New Jersey based Infocrossing for $600 million or $18.70 per share.
Elena
06 Aug, 2007
New York City
Chrysler
123jump.com Staff
06 Aug, 2007
New York City
European markets fell across the region. UK and Germany bucked the trend. Akzo Nobel and Henkel are close to acquire chemical company ICI for 6.70 pounds per share or 8 billion pounds. Fortis shareholders agree to merge with ABN Amro Bank. Spain and Switzerland fell dragged by a weakness in European markets. Asian markets closed lower across the region. Internatioal Power of UK acquires wind farms in Germany and Itlay for 1.2 billion euros.
Elena
06 Aug, 2007
New York City
Wall Street rallied at opening Monday but shortly afterwards erased gains amid growing concerns over credit markets and the impact of subprime mortages on financial institutions. Credit worries were underlined by American Home Mortgage which dropped 36% after bankruptcy filing. Bear Stearns fell 4% after defending its actions in the credit market and laying off a key executive. Merrill Lynch traded near the flat line after UBS upgraded the stock to a buy rating.
Elena
06 Aug, 2007
New York City
U.S. stock futures advanced slightly on Monday, lifted by gains in the troubled financial services sector and speculations that the Fed Reserve will decide on interest-rate policy that will be favorable to the economy
123jump.com Staff
06 Aug, 2007
New York City
Asian markets across the region fell between 1% and 4% with only Shanghai Index managed to buck the regional trend. Japan fell as much as 1.7% before recovering near the close. Singapore and Indonesia dropped nearly 4%. Australia fell 1.7% with a sharp sell-off in banks, resources and energy stocks. Metal stocks gained in Shanghai trading.
123jump.com Staff
06 Aug, 2007
New York City
Nikkei closed 0.4% lower but fell as much as 1.7% during the day. Asian markets across the region fell with Singapore and Indonesia leading the decliners. Banks and brokerage stocks led the decline on the worries of hidden liablities related to U.S. mortgage bonds. Yen advanced as carry trade unwinding continued. Mitsubishi Electric jumped 6% on falling oil prices.
123jump.com Staff
03 Aug, 2007
New York City
New York Averages were in the gravitational pull, and it got only tighter in the last hour of trading. Market averages fell further in the last thirty minutes of trading. Three popular averages fell more than 2.5% at close, the worst level of the day. Brazil dropped more than 3% and Mexico fell 2.4%. S&P put Bear Stearns on credit watch list with a negative outlook. Toyota Motors reported earnings rise of 32%. Crude oil fell 2% but gold jumped 1.5%.
