Elena
07 Mar, 2007
New York City
Following a sharp rebound in the previous session, U.S. stock futures pointed to the downside on Wednesday, reflecting a mixed performance in overseas markets and renewed strength in the Japanese currency against the dollar. In economic news, U.S. private sector employment added 57,000 in February, marking the weakest growth since July 2003. Investors also awaited news on the economy''s health with the Fed''s Beige Book release.
Ivaylo
07 Mar, 2007
New York City
Asian markets closed mostly higher Wednesday as shares continued to recover from last week''s losses, but Japan finished slightly lower as exporters lost ground in volatile trading. Hong Kong shares also ended lower as cautious investors took the chance to take profit. Shanghai benchmark index and South Korean Kospi advanced, as well as Taiwan and Malaysia.
Elena
07 Mar, 2007
New York City
Google was upgraded to buy from neutral at UBS, citing valuation. According to analysts the company
Ivaylo
07 Mar, 2007
New York City
The Sensex opened with a positive bias but profit taking at higher levels together with heavy selling in cement stocks made the index slip into the negative zone. The market regained some territory in late afternoon trade on buying interest at lower levels but still ended with a loss. Gujarat Ambuja and ACC led the decline, while Cipla and Reliance Comms rallied. Singapore Exchange to buy a stake in BSE.
Ivaylo
07 Mar, 2007
New York City
European markets were higher on Wednesday on a strong performance on US markets overnight, and fresh merger and acquisition activity. Carrefour led the retail sector higher, while ABN Amro rose on bid speculation. VW raised its stake in Scania and boosted the auto sector. By mid morning, Frankfurt Xetra Dax added 0.3%, the CAC 40 in Paris climbed 0.3% and the FTSE 100 in London rose 0.2%.
Ivaylo
07 Mar, 2007
New York City
Gold and silver futures recovered some territory on Tuesday along with stocks as some of the recent liquidation pressure subsided, with light fund buying returning to the metals. Also, now that the Japanese yen is softer against the U.S. dollar, there are reduced concerns about unwinding of the so-called yen carry trades. High-grade copper futures rose with the help of gains in stocks and other commodities.
123jump.com Staff
06 Mar, 2001
New York City
U.S. stocks rebounded after solid gains in overseas markets, despite shaky economic data that posed a new threat to the dollar against the yen and raised the specter of inflation once again. The Fed Chairman Bernanke in prepared remarks called for stronger regulation of Fannie Mae and Freddie Mac. Fannie rose 3.2%, and Freddie gained 1.6%. Treasure Secreatry Paulson comments on housing loans supported a rally in Citigroup, Lehman and Bear Stearns.
123jump.com Staff
06 Mar, 2007
New York City
U.S. stocks rose, driving all three major stock indexes up more than 1%, as nearly a week of steep declines brought buyers back. Shares of Google Inc. shot up 2.7% and Apple shares rose 1.7%. Citigroup jumped 2.7%. General Motors may have to take a charge of $1 billion for bad mortgage loans. The Fed Chairman said that Fannie Mae and Freddie Mac should sell majority of its asset and focus on lending to promote affordable housing.
Elena
06 Mar, 2007
New York City
European stocks closed notably higher, ending a five-session losing streak. European gains followed a global markets rebound, with investors buying shares in companies that have been hurt by the recent reduction in risk appetite. Salzgitter shares rose 5.6% after Credit Suisse upgraded its stock. Miner Xstrata rose 3 and building materials firm Vinci climbed 3.5%. The German DAX Xetra 30 closed up 0.9%, the French CAC 40 rose 1% and the U.K. FTSE 100 advanced 1.2%.
Elena
06 Mar, 2007
New York City
U.S. stock markets rallied at opening, with the three major indexes pushing higher after five sessions of massive losses. A rebound in Asian markets and strengthening dollar boosted market sentiment. The Dow Jones industrials gained over 100 points before edging back. Financial stocks led market higher, recovering from steep losses. Century Financial Corp., which plunged 70% on Monday, rose 14.9% in early morning.
Ivaylo
06 Mar, 2007
New York City
The UK market recovered some territory on Tuesday as dealers sought to put more than a week of volatile trading behind them. After a hesistant start, the market closed the morning session strongly ahead as miners took heart from Xstrata upbeat results and comments. Helped also by a sharp increase in its dividend from International Power, the FTSE 100 was 53.4 points higher at 6,112.1 at mid-day.
Elena
06 Mar, 2007
New York City
U.S. stock market futures were indicating a higher opening on Tuesday, boosted by a recovery in overseas bourses after the steep global decline in recent sassions. Asian stock markets advanced and European stock markets also moved higher. The U.S. dollar gained some ground against the rallying yen and helped provide further support to the pre-market sentiment. On the economic news front, January factory orders, statistics on January pending-home sales and Q4 productivity are due for release.
Elena
06 Mar, 2007
New York City
The Dow was led higher by financial stocks which bounced back after heavy losses. Mortgage lender New Century Financial surged 25% and Fremont General climbed 11.7%. Blue-chip company Altria Group rose 1.8% after Deutsche Bank upgraded its stock to buy, noting opportunities to unlock value through a restructuring. Google helped push the tech-heavy Nasdaq higher on the back of news that the company is working together with Apple on new projects. Google shares rose 2.2%, while Apple added 1.5%.
Ivaylo
06 Mar, 2007
New York City
The Nikkei benchmark index had its first positive close in six sessions Tuesday, and regional indexes followed suit and closed broadly higher, as investors bought shares of Softbank, Sony and others that were hit last week. Gains were made in leading markets across the region, including China, South Korea and Hong Kong. Markets in Thailand and New Zealand bucked the uptrend and ended slightly lower.
Ivaylo
06 Mar, 2007
New York City
The benchmark index ended in positive territory despite the high volatility, supported by a surge in large-caps and Reliance Industries in late afternoon. Short-covering in derivatives and strong Asian markets also aided the rally. Wipro, ICICI Bank and Infosys led the gainers, while Hindalco and NTPC led the decliners. The rally, however, was not broad-based. The rupee was steady against the dollar. The government has been urging steel and cement industries to control prices.
