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.
Ivaylo
14 Jun, 2007
New York City
Asian stocks advanced Thursday with South Korea setting a record high, while Japanese Nikkei ended higher on a weaker yen against the dollar. The Shanghai Composite Index clawed back on news that the government is considering steps to cool further down the booming economy. Strong close on Wall Street overnight lifted markets in Hong Kong and Australia.
Elena
14 Jun, 2007
New York City
U.S. stock futures indicated a flat opening Thursday, with investors eagerly awaiting economic readings on inflation. The Labor Department is due to release its producer price index, which analysts expect to show a 0.5% increase, compared to 0.7% in April. Economists predict the core PPI, which excludes food and energy prices, will advance 0.2% as it did in April. The consumer price index is scheduled to come out on Friday.
Ivaylo
14 Jun, 2007
New York City
The benchmark index opened with a strong positive bias of 85 points, tracking buoyant global indexes and touched new heights on strong demand for large-cap stocks. The rally was broad-based as there were two advancers for every decliner in the market. HDFC led the advancers on a comment from its chairman hinting at a possible hike of lending rates in the near future. There were very few decliners including Hero Honda and ICICI Bank. Employees of Indian call off their strike.
Ivaylo
14 Jun, 2007
New York City
European markets rallied for a second day with exporters and mining companies in the lead, after worries abated that interest rates will keep increasing and metal prices recovered in London. Michelin and Siemens led an advance by companies that make at least 20% of their sales in the U.S. By mid-day, Germany Xetra DAX added 1.4%. France CAC 40 and the U.K. FTSE 100 both rose 1%.
Ivaylo
14 Jun, 2007
New York City
Oil and gasoline futures rallied Wednesday after the government announced that the gasoline stockpiles were well below average for this time of year. Precious metals prices sank as the dollar strengthened. Copper prices rebounded to finish nearly 2% higher on the London Metal Exchange. In the agriculture market, wheat and corn prices rose while soybean prices retreated.
123jump.com Staff
13 Jun, 2007
New York City
Three popular averages in New York trading surged and closed at the
best levels of the day. U.S. retail sales in May rose 1.4% sparking a rally in stocks. Bond yields traded lower on the data and a read on the economy suggested healthly gains in manufacturing and labor market with little inflation. May retail sales in China rose 15.9% lifting stocks in Shanghai. Brazil GDP advanced 4.3% in Q1 supporting a rise in steel and retail stocks. European markets closed higher led by mining stocks.
Elena
13 Jun, 2007
New York City
European stock markets recovered from earlier weakness to close higher on Wednesday, boosted by strong opening on Wall Street and solid gains in the mining sector. Among mining stocks, shares in Lonmin climbed 4.8%, Vedanta Resources rose 3.5% and Rio Tinto gained 4.5%. The U.K. FTSE 100 advanced 0.6%, the French CAC-40 rose 0.6%, while the German DAX Xetra 30 finished virtually unchanged at 7680.76.
Elena
13 Jun, 2007
New York City
U.S. market averages continued to post gains, as easing rate concerns helped generate positive sentiment. Retreating bond yields fueled a rebound in rate-sensitive shares including banks, utilities and home builders. Among utilities, shares of Edison International added 1%, while FirstEnergy gained 0.6%. Shares of chip makers reversed from yesterday''s losses, with Qualcomm leading advances on the Nasdaq with a 1.8%.
