Ivaylo
13 Dec, 2006
New York City
The precious metals trading finished before the decision on interest rates so traders refrained from giving direction to the markets in either direction in front of the Fed meeting on Tuesday afternoon. Some weakness in gold was witnessed when the dollar started to edge up after a surprise reduction of the U.S. trade deficit. The gap stood at $58.87 billion in October, compared with $64.26 billion in September.
123jump.com Staff
12 Dec, 2006
New York City
Treasuries rallied after the Fed left Fed Fund rates unchanged at 5.25%. Widely expected move lifted the averages briefly but failed to keep markets close in the positive. Goldman Sachs reports 93% jump in earnigs to $6.59 per share or $3.15 billion, best quarterly earnings ever. The stock fell $2.50 on the news but still up 57% for the year. Fannie Mae sues former auditor KPMG over $6.3 billion in accounting errors. GE predicts earnings growth of 13% in the year 2007.
123jump.com Staff
12 Dec, 2006
New York City
Major averages failed to bounce back after the Fed left its short term rates unchanged. Fed left Fed Fund rates at 5.25%, widely expected move failed to excite the market. Bond marke rallied and debate over the Fed statement raged. The tone in the statement appears to be dovish than the in the previous release. Goldman reported best quarter ever and Best Buy reported strong sales but weaker margins.
Elena
12 Dec, 2006
New York City
European stocks finished lower on Tuesday amid cautious trading before a Federal Reserve decision on interest rates. The German DAX 30 closed down 0.1%, dragged by semiconductors STMicroelectronics and Infineon Technologies. The French CAC 40 slipped 0.2%, with holiday group Club Mediterranee contributing to the losses. London FTSE 100 fell 0.2%.
Elena
12 Dec, 2006
New York City
U.S. market averages posted modest weakness in a light trading session Tuesday, with investors cautious ahead of the Fed Reserve''s decision on interest rates. Weak sales at Best Buy raised concerns of decreasing demand for electronics, sending the stock down 6%. Shares of Dow component Citigroup fell 1.6% after the investment bank named a new COO but indicated that there would not be any additional executive changes.
Elena
12 Dec, 2006
New York City
Reserve Bank of India tightening of leding rules, three days ago, has kept investors worried about inflation and slowing economic growth. The bennchmark index lost almost 1,000 points in just three days, aided today by the unexpectedlly slow industrial production growth in October. Intense selling in banks and almost all Sensex stocks hit the market. Highly volatile market had weak breadth. The only advancers among large-caps was HDFC Bank, while the Bharti Airtel and Grasim led the decliners.
Elena
12 Dec, 2006
New York City
U.S. stocks opened lower on weak profit outlooks. Best Buy fell 4.1% as it reported 31 cents per share income rise, compared with net income of 28 cents a year ago, but missing expectations of 35 cents a share. TI cut Q4 earnings and revenue outlook, but JP Morgan analysts predicted that the worst will be over soon for the chipmaker. The stock moved slightly higher. At the same time, Goldman Sachs lost 1% after reporting its Q4 earnings doubled to $6.59 per share, up from $3.35 last year.
Ivaylo
12 Dec, 2006
New York City
Expectations of a pause in interest rate hikes were broken today as inflation speeeded up to a ten-year high, having a profoundly negative effect even on the strongest stocks. Inflation jumped 0.3% last month, taking the annual rate to 2.7%, its highest since comparable records began a decade ago and missing estimates of 2.6%. The FTSE 100 index declined 16.5 points, or 0.3%, to 6,143.3.
Elena
12 Dec, 2006
New York City
Goldman Sachs Group said Q4 profit doubled on record merger activity and robust stock market trading. The company reported a profit of $6.59 per share, compared with $3.35 per share a year ago, easily beating estimates of $6.04. Revenue soared to $9.41 billion. Best Buy Co. said Q3 profit rose 9% to 31 cents a share, up from 28 cents a year ago, but results missed expectations as the consumer electronics retailer made greater use of promotions to move merchandise. Its shares fell 5%.
Elena
12 Dec, 2006
New York City
Nasdaq Stock Market made a 2.7 billion-pound ($5.3 billion) hostile bid for the London Stock Exchange after failed attempts to persuade the LSE
Ivaylo
12 Dec, 2006
New York City
Large-caps such as Sony, Toyota and Canon led the rally as Japanese shares gained Tuesday, on the recent bouncing back of the dollar versus the yen which helped exporters, though regional markets were mixed after a competition probe into the LCD television making industry. Hang Seng in Hong Kong and Kospi of Seoul slipped both. The Fed meeting impacted Hong Kong investors negatively, causing stocks to fall slightly.
Ivaylo
12 Dec, 2006
New York City
Retailers hogged the limelight as hopes of strong Christmas sales powered the sector. Investors are cautious, though, ahead of a Federal Reserve decision on interest rates later in the day, with French drinks group Remy Cointreau and Belgian miner Umicore also among the gainers. By mid morning, the FTSE 100 in London was down 0.2%, while Frankfurt Xetra Dax gained 0.1%, and the CAC 40 in Paris was flat.
Ivaylo
12 Dec, 2006
New York City
During the session the gold contract slipped to a three-week low, then rebounded as the dollar declined against the euro in the wake of reported comments from former Ex-Federal Reserve chief Alan Greenspan, quoted as stating that there were a few years of dollar weakness. Investors are anticipating the Federal Reserve not to hike the benchmark interest rate which now stands at 5.25 %.
123jump.com Staff
11 Dec, 2006
New York City
Merger talks, airline industry consolidation rumors and rising home builder stocks drove market averages higher at close. The Sabre Group is reported to be in talks with private equity groups to sell the company for more than $4 billion. Biomet is likely takeover target from UK based comany. Tata and CSN are in bidding war for Corus. United Airlines parent UAL Corp is rumored to announce merger plan at analyst meeting. Global SantaFe and JP morgan rose on analyst comments.
Elena
11 Dec, 2006
New York City
European stocks posted gains Monday, boosted by takeover bids for Corus Group and Egg, the Internet banking division of insurer Prudential. Steelmakers advanced, with shares of Germany''s ThyssenKrupp up 1.5% and Spain''s Acerinox, up 2.5%. The French CAC 40 climbed 0.8%, followed by the German DAX 30, up 0.78%, and London FTSE 100, up 0.1%.
