123jump.com Staff
05 Nov, 2008
New York City
Stocks in Tokyo surged after the victory of Barack Obama in the U.S. Presidential election. Investors in Japan speculated that change in economic policies may revive the U.S. economy and exports from Japan faster. Sumitomo Heavy Industries surged 23% after it reported better than interim profit.
123jump.com Staff
05 Nov, 2008
New York City
U.S. stocks edge lower after the historic Presidential election. The president-elect Barack Obama is likely to increase infrastructure spending and accelerate the pullout of the U.S. troops from Iraq. The Libor rate dropped, but still hovers above the Fed rates. Japan and China closed up.
123jump.com Staff
05 Nov, 2008
New York City
MasterCard reported third quarter revenue rise of 24% and a loss of $1.49 a share or $193.6 million. After excluding one-time charges the company reported net income of $2.47 a share and guided that it is likely to miss its earnings revenue target in the next year.
123jump.com Staff
04 Nov, 2008
New York City
U.S. stocks rallied more than 3% on an election day. Hopes of U.S. Treasury injecting capital in non-financial companies lifted insurance stocks. European stocks rallied on better than expected earnings. Lower interbank rates lifted stocks in Japan and in Europe. Australia lowered its key rate.
123jump.com Staff
04 Nov, 2008
New York City
Hong Kong October home sales dropped 17.8% from September and plunged 54% from a year ago. Energy stocks fell on a decline in oil price in the region. Mining stocks dropped after Baosteel lowered its production target for December.
123jump.com Staff
04 Nov, 2008
New York City
The UK stocks surged after the retailer Marks & Spencer reported better than expected earnings and crude oil futures prices rose. Miners and energy stocks rose after a rise in copper and oil prices. Kazakhmys led advancers in the FTSE 100 index shares with a rise of 17.6%.
123jump.com Staff
04 Nov, 2008
New York City
Mumbai stocks rallied for the second day this week after a surprise rate cut from the Reserve Bank of India. Prime Minister Singh will review the current financial crisis on a weekly through a new panel. Banks rallied after they indicated a decline in rates for loans and deposits.
Mayank Mehta
04 Nov, 2008
New York City
Herbalife Ltd plunged 23% after it issued cautious sales outlook for the fourth quarter on strong dollar. Fluor Corp surged after JP Morgan made positive comments. Archer Daniels Midland surged 21% after net income jumped nearly 250%. Expeditors International soared 22% on 15% earnings gains.
123jump.com Staff
04 Nov, 2008
New York City
U.S. stocks rallied on the election day on the hopes that the new leader will represent a change in the economic direction. U.S. Treasury may invest directly in non-financial companies through its bank rescue plan, a departure from its original goal. Paulson credibility takes another knock.
123jump.com Staff
04 Nov, 2008
New York City
MasterCard reported third quarter revenue rise of 24% and a loss of $1.49 a share or $193.6 million. After excluding one-time charges the company reported net income of $2.47 a share and guided that it is likely to miss its earnings revenue target in the next year.
123jump.com Staff
04 Nov, 2008
New York City
The benchmark Nikkei 225 index surged 6.3%. Panasonic proposal to acquire Sanyo Electric lifted stocks. Lower than expected decline in Japanese auto sales in the U.S. and a decline in interbank rates contributed to the positive mood.
123jump.com Staff
04 Nov, 2008
New York City
The larger than expected interest rate but by the Reserve Bank of Australia of 75 basis points to 5.25% only highlighted the vulnerabilities of the Australian economy. The RBA hinted that further rate cuts are possible if the global economic conditions do not stabilize.
123jump.com Staff
03 Nov, 2008
New York City
U.S. stocks traded sideways ahead of the U.S. presidential election. Manufacturing index showed a sharp deceleration in activites and a drop in exports in October. Auto sales in the month fell 32% to the level last seen in January 1991. The sales at GM dropped 45% at Toyota declined 23%.
123jump.com Staff
03 Nov, 2008
New York City
Australian stocks surged on the hopes that the Reserve Bank of Australia will lower rates tomorrow. The listing for new jobs placement declined in October, home prices fell 1.8% and manufacturing declined in the month. Australian dollar gained to close at 66.02 cents to a dollar.
123jump.com Staff
03 Nov, 2008
New York City
Hong Kong stocks surged 2.7% after Peoples Bank of China spokesperson said that banks are no longer constrained by monthly loan quotas. The relaxed lending environment is expected to provide liquidity to small and medium businesses. China Unicom fell 7% on the merger worries with China Netcom.
