Elena
06 Oct, 2006
New York City
Stock averages started trading in the negative, following three straight sessions of record gains. The initial weakness was due to an employment report which gave another signal that the economy is slowing and inspired traders to cash in on the market''s recent gains. In corporate news, Micron Technology dropped 10% after the chipmaker issued a Q3 profit report that disappointed investors.
Ivaylo
06 Oct, 2006
New York City
The report should provide further clues as to whether the world biggest economy is heading for a hard or soft landing. The FTSE 100 clung to the 6,000 level at mid-day, with a bounce in PartyGaming and further M&A excitement across utilities helping to ease nerves. In early afternoon, the FTSE index lost 13.00 points, or 0.22%. Manufacturing output grew for the fourth month in a row in August, pushing up the annual rate of increase from 1% in July to 1.5%.
Elena
06 Oct, 2006
New York City
The Labor Department said that U.S. nonfarm payrolls rose by an estimated 51,000 in September, the lowest rise in 11 months, and came in below the 123,000 rise expected by economists. The weakness in employment, which was mainly concentrated in the manufacturing and retail sectors, was offset by gains in health care and finance.
Elena
06 Oct, 2006
New York City
Under the terms of deal, Crown Castle, owner and operator of wireless infrastructure, will assume estimated debt of $1.8 billion, and the total cash consideration will be capped at $550 million. The transaction brings together two tower companies with more than 24,000 wireless sites between them.
Ivaylo
06 Oct, 2006
New York City
The Nikkei 225 in Japan slipped on profit-taking in blue-chip Canon Inc. while market heavy HSBC Holdings extended its record-setting run on bullish sentiment following another record close for the U.S. market. The urge to book profits offset a revival among commodity stocks and a strong performance from blue-chip financial stocks. In Hong Kong, property companies outperformed the stock market on easing interest-rate concerns.
Ivaylo
06 Oct, 2001
New York City
Most European stocks were firm on Friday morning ahead of a key U.S. jobs report, with advances from airlines easyJet and Aer Lingus helping to compensate weakness from Vodafone Group and Telecom Italia. Sentiment was kept in check before key U.S. jobs figures due out later in the day. The FTSE 100 in London reached 6,006.6, Frankfurt Xetra Dax was 0.1% higher at 6,083.12, and the CAC 40 in Paris was slightly higher at 5,289.52.
Ivaylo
06 Oct, 2001
New York City
The stronger tone of the oil market encouraged profit-taking in the metals, thus raising their prices. Some short sellers also may have been squaring positions before U.S. monthly jobs report on Friday, which can influence the dollar and, in this way, the direction of metals. Physical demand for gold has been good, especially on this sell-off. Funds had been liquidating long positions for some time now in both gold and silver.
123jump.com Staff
05 Oct, 2006
New York City
Oil rose 1%, gold gained $8 and retails sales stores reflcted changing consumer behavior. Market averages rose in the last hour of trading as traders rushed to buy retailers. Caterpillar advanced on upgrade and Marriott gained on earnings. Constellation Brands fell 8% on reporting earnings in line with estimates. Guitar Center fell 12% on lowered earnings and revenue outlook for Q3 and Q4. Starbucks raised store target to 40,000 from 30,000 and to open stores in India, Russia and Brazil.
Elena
05 Oct, 2006
New York City
European markets closed at a five-year high Thursday, boosted by takeover speculation, rebound in commodities prices, and interest-rate increases in line with expectations. London FTSE 100 closed up 0.6%, with Corus Group rising 16% amid hopes that it will enter into a deal with India''s Tata Steel. The German DAX 30 rose 0.5%, while the French CAC 40 advanced 0.6%.
Elena
05 Oct, 2006
New York City
Following two consecutive sessions of gains, with the Dow Jones hitting a record high, the U.S. stock markets turned in a lackluster performance in morning trading Thursday. Investors turned to profit taking, awaiting employment data in the month of September, due out Friday. A rebound in oil and metals prices boosted energy and commodities stocks. Meanwhile, retail shares declined, despite generally strong September same-store sales.
Elena
05 Oct, 2006
New York City
The Sensex opened with a sharp upward gap to hold onto gains throughout the day. The advance was broad-based with small-cap and mid-cap stocks also taking part in the rally. The market-breadth was at its best, as all sector finished higher except for engineering, power and telecom stocks. HDFC Bank led the advancers. The rupee gained as the U.S. dollar plunged against other major currencies. Tata Steel bids for Corus for $10.5 billion.
Elena
05 Oct, 2006
New York City
Stock markets opened lower as a rebound in oil prices inspired investors to do some profit taking, offsetting better-than-expected retail sales in September and lower unemployment claims last week. Bebe Stores, Children''s Place, and American Eagle Outfitters were among the teen retailers posting notably higher sales. Of discount retailers, Target sales exceeded expectations of a 5% growth, posting 6.7% rise. Costco Wholesale posted a 4% same-store sales rise, below estimates.
Ivaylo
05 Oct, 2006
New York City
Though small, Tata Steel is considering an offer as it has the financial muscle, being a unit of one of the largest conglomerates in India. With other steel groups such as Severstal also likely to enter the running, Corus shares led the advancers in London. The FTSE 100 was up 31.2 points at 5,997,7 at mid-day after breaching the 6,000 level early on, helped as well by the Bank of England decision to leave interest rates unchanged at 4.75% today.
Elena
05 Oct, 2006
New York City
Stock market futures indicated a flat market opening, a day after the Dow Jones Industrials hit a record high. Strong retail September sales helped offset a rebound in crude-oil futures amid OPEC''s decision to reduce production. Wal-Mart said September sales rose at 1.3%, while total sales increased 12% to $31.21 billion. Target posted same-store sales increase of 6.7%, exceeding estimates of 5% growth.
Ivaylo
05 Oct, 2006
New York City
The Nikkei Average in Japan finished sharply higher Thursday, leading a region-wide rise, as investors bought blue chips such as Toyota Motor Corp. and Canon Inc. after another record close for the U.S. markets. Interest-rate-sensitive stocks were also active, led by Hong Kong-listed HSBC Holdings. All the regional markets finished higher but for New Zealand, which ended flat.
