Elena
07 Jun, 2007
New York City
Retailers released reports on sale-store sales in May, showing a slight improvement compared to April
Elena
07 Jun, 2007
New York City
U.S. stock market opened lower on Thursday, reflecting rising yields in the bond market and mixed retail sales reports. The 10-year Treasury note''s yield jumped over 5% in overnight trading, raising concerns that a rate cut later in the year is less probable. Mixed retail sales in May indicated that consumer spending was uncertain. Wal-Mart Stores, Target Corp., J.C. Penney posted lower-than-expected same-store sales.
Ivaylo
07 Jun, 2007
New York City
The UK market advanced modestly at mid-day on Thursday after declining on Wednesday, as the Bank of England decided to hold interest rate at 5.25%. Vodafone led the advancers in morning deals, other stocks performing well include car retaler Halfords, Intercontinental Hotels and airline EasyJet. The FTSE 100 gained 17 points, or 0.26%, at 6,539.7 after it ended 110 points lower on Wednesday.
Ivaylo
07 Jun, 2007
New York City
Asian markets saw subdued trading on Wednesday, as the Japanese market remained in negative territory tracking the overnight decline of U.S. markets, before advancing toward the close. Shanghai extended gains from yesterday as the government said it does not plan to put in practice a capital-gains tax. HK retreated taking its cue from the lower close on Wall Street.
Elena
07 Jun, 2007
New York City
Wal-Mart Stores said Thursday its May same-store sales rose 1.1%, excluding fuel. Including fuel, same-store sales advanced 1.3%, slightly below analyst expectations of an increase by 1.4%. The company expects June same-store sales to come between flat and 2%. J.C. Penney reported 2% decline in its May same-store sales, missing the forecast for a rise of 0.3%.
Ivaylo
07 Jun, 2007
New York City
The market traded in high volatility throughout the session. IT stocks bucked the overall downtrend and advanced on a weaker rupee, but auto stocks dipped as there was less interest in carmakers after the increase of interest rates and as some of the companies reported production cuts. Bajaj Auto led the decliners, Maruti and Hero Honda also slipped. Most of the gainers today were metal and IT stocks, including Satyam and Hindalco. The next telecom expansion is to focus on rural India.
Ivaylo
07 Jun, 2007
New York City
European markets were mixed on Thursday after financial, technology and auto stocks regained territories, lost on Wednesday, although retailers and construction groups were still lower on interest rate worries. By late morning in London, the FTSE 100 gained 0.4%, while in Germany, Frankfurt Xetra Dax slipped 0.1% and the CAC 40 in Paris lost 0.3%.
Ivaylo
07 Jun, 2007
New York City
The benchmark index saw a highly volatile trading Thursday with IT large-caps rallying in late session on a weaker rupee, with Satyam and Wipro leading stocks higher. Cement stocks plunged with ACC and Grasim the worst performers in the sector. Hindalco gyrated between positive and negative zone, but is currently up, while Reliance Comms is firmly higher. Reliance Industries is down. The market-breadth is strongly negative with three decliners for every two advancers.
123jump.com Staff
06 Jun, 2007
New York City
Stocks fell for a second day in a row in Europe, New York and Latin America. Rate hike in Eurpe dampened the mood and rising price of Nickel kept averages in Chile and Brazil under check. In New York market traded lower as traders worried that future cuts in interest rates this year are less likely. India lost 2%. Metal and oil trading companies rose more than 4% in Japan. Australia reported faster than expected GDP growth.
Elena
06 Jun, 2007
New York City
European stock markets ended in the red on Wednesday, reflecting interest rate worries worldwide and weakness in the automotive sector. Interest rates were in the spotlight after the ECB lifted its key interest rate to 4%. Automotive stocks stood out as the worst performers, with Volkswagen falling 2.5% and Renault losing 4%. The German DAX Xetra 30 tumbled 2.4%, the U.K. FTSE 100 dropped 1.7%, and the French CAC-40 declined 1.7%.
Elena
06 Jun, 2007
New York City
U.S. market averages posted heavy losses in late morning trading, with the Dow Jones Industrial average losing over 100 points. The steep decline followed news that Q1 unit labor costs jumped higher than expected, sparking inflation and interest rate concerns. The blue-chip average was led down by DuPont and IBM, each falling 2.2%. Dow members United Technologies and Boeing declined 1.5%.
Elena
06 Jun, 2007
New York City
Panera Bread tumbled 13% after the retailer cut its Q2 earnings and same-store sales guidance on lower same-store sales expectations and rising costs. Company''s stock was downgraded by Morgan Keegan. Whole Foods Market declined 3.4% after the Federal Trade Commission filed a lawsuit to prevent it from merging with Wild Oats.
Elena
06 Jun, 2007
New York City
Wall Street opened lower on Wednesday, reflecting inflation and interest rate concerns, sparked by higher unit labor costs Q1. First-quarter productivity came in line with expectations, rising 1%, down from the previous estimate of 1.7%. However, unit labor costs rose a higher-than-expected 1.8%. Among the biggest losers, Panera Bread tumbled 13% after the retailer cut its Q2 earnings and same-store sales guidance on lower same-store sales expectations and rising costs.
Ivaylo
06 Jun, 2007
New York City
The UK market remain firmly in negative territory as retailers led decliners, while investors are keeping an eye on the increase in eurozone interest rates and an expected weaker start on U.S. market. A note from Morgan Stanley also contribute to the decline of the FTSE 100 which plunged 67 points, or 1%, to 6,555.4 in late morning trade, as investors intensified their caution before Bank of England
Elena
06 Jun, 2007
New York City
U.S. stock futures predicted weak market opening on Wednesday, reflecting interest rate concerns after a rate hike in Europe and before data on Q1 productivity. The Labor Department is expected to report worker productivity increase by 1%, down from the previous estimate of 1.7%.
