Elena
03 Oct, 2006
New York City
The U.S. stock markets rebounded from earlier weakness as a continued decrease by the oil price generated some positive sentiment. Crude oil futures dropped by another $2 to $59 a barrel, giving a boost to oil-sensitive airline stocks and retailer companies, too. At the same time oil giants like Exxon Mobil Corp. and Chevron Corp. dropped sharply.
Elena
03 Oct, 2006
New York City
The benchmark index opened the week on a negative note, retracting weak global markets. Other than auto and metal shares the other stocks on BSE closed in red. Profit taking was witnessed in pharma, technology, capital goods, consumer durables and oil stocks. NTPC, Bajaj Auto and Reliance Energy led the advancers while HDFC and Hindustan Lever led the decliners. The Tata Group formed an alliance with Australian Woolworths to start a retail chain for consumer durables.
Elena
03 Oct, 2006
New York City
Stock markets opened in the negative for a third session in a row on growing concerns about the state of domestic economy. Technology stocks seemed likely to come under pressure again in part because of a profit warning from Marvell Technology Group Ltd. The company opened 15% down after saying that Q3 revenue will fall about 10% from Q2 levels. Marvell also said it would have to restate past results because of stock-option accounting errors.
Ivaylo
03 Oct, 2006
New York City
BP, largest company in the UK, declined as the crude price fell below $61 a barrel amid concern about high US inventories. The volatile mining sector also dipped largely weaker, with Kazakhmys plunging. Xstrata bucked the downttrend among the miners after it announced a three-for-one rights issue to fund acquisition of Falconbridge of Canada. The FTSE 100 index lost 48.4 points, or 0.8%, to 5,908.8 by midday.
Elena
03 Oct, 2006
New York City
Stock futures slightly declined on concerns about economic slowdown and expectations of weaker auto sales. The Chrysler unit of DaimlerChrysler is expected to have the worst performance. Sales of General Motors and Ford Motor Co. are seen roughly flat in comparison with last year. Elsewhere, Marvell Technology tumbled 17% in pre-open trading after saying that Q3 revenue will fall about 10% from Q2 levels.
Elena
03 Oct, 2006
New York City
September''s total job cuts were 40% higher than the 71,836 layoffs recorded in September 2005. The chief executive of the outplacement firm said that the job reductions are closely related to the slowdown in the U.S. economy. Automotive suppliers led the surge in job cuts as they were affected by lower production levels at Ford, General Motors and DaimlerChrysler.
Ivaylo
03 Oct, 2006
New York City
The Nikkei 225 Average in Tokyo finished the day 0.08% lower as as renewed concerns about quality problems at Sony took attention away from a strong debut by Nomura Real Estate Holdings. Hong Kong ended higher as Chinese companies benefiting from a strong yuan led the market higher. Australia advanced, while Taiwan closed lower. Markets in South Korea and mainland China were closed Tuesday for holidays.
Ivaylo
03 Oct, 2006
New York City
The slip on U.S. and Asian markets came after a number of downgrades, while energy companies were hit by falling oil prices. Technology stocks suffered after the US Nasdaq fell overnight following a downgrade of Apple Computer by Citigroup. Japanese tech issues also dropped after Goldman Sachs downgraded the likes of Sony and Pioneer. The FTSE 100 in London lost 0.5%, while Frankfurt Xetra Dax fell 0.7% and in Paris, the CAC 40 shed 0.7%.
Ivaylo
03 Oct, 2006
New York City
The gold contract managed to hold the key $600 an ounce level but did trade as low as $602 during the session. The yellow metal lost ground then was later quiet before light fund selling forced oil down more than a dollar, dragging gold with it. Gold will continue to draw direction from the U.S. dollar and crude oil price fluctuations in the short term.
123jump.com Staff
02 Oct, 2006
New York City
Market averages traded lower with no clear direction. Nasdaq led the decline with a loss of 1%. Oil dropped more than 2% on worries that more production cuts are not likely. Report on manufacturing showed a slowing level of activity and construction spending rose 0.3% in August. Stock markets in Peru and Saudi Arabia led the world at the end of Q3 with a gain of 115% and a loss of 33% respectively. Emerging markets are ahead of New York and European markets for the year by a factor of two.
Elena
02 Oct, 2006
New York City
European markets finished below the flat line, pulled down by weaker technology stocks and steep losses in online gambling shares. About $7.5 billion of market value was wiped off gambling stocks after the U.S. Congress passed a bill that would prohibit U.S. financial services firms from processing payments to these. London FTSE 100 ended lower by 0.1%, followed by the German DAX 30 and the French CAC 40, also down 0.1%.
Elena
02 Oct, 2006
New York City
On the first day of the fourth quarter, stocks traded in a lackluster manner, reflecting mixed economic data, falling oil prices and merger news. The Institute for Supply Management said the manufacturing sector grew at the slowest pace in more than a year in September due to weaker U.S. auto sales and a slowing housing market. The Commerce Department said construction spending in August rose 0.3% after falling 1% in July.
Elena
02 Oct, 2006
New York City
U.S. stocks opened below the flat line Monday after Wal-Mart Stores said September same-store sales came in at the low end of a forecast. Company''s shares slipped nearly 2%. In corporate news, casino operator Harrah''s Entertainment rallied 19% after it received a $15.05 billion offer from private equity firms Apollo Management and Texas Pacific Group.
Ivaylo
02 Oct, 2006
New York City
PartyGaming weighed down on the market on reports it is considering suspending its US business but miners are having a good day led by Anglo-American and BHP Billiton. Utilities are also riding high after water stock AWG announced it has agreed a with Osprey, but said it has received a number of other approaches. Scottish Power is performing well and current trading is expected to be ahead of expectations. The FTSE 100 is up 0.07% at 5,965.10 at 2pm GMT.
Elena
02 Oct, 2006
New York City
Stock market futures reversed from earlier gains to move slightly down, as Wal-Mart reported disappointing sales results and the stock of Apple Computer was downgraded. Wal-Mart posted September same-store sales rose 1.8%, just below the mid-point of its 1% to 3% forecast range. Apple dropped fell 2% to $75.40 in pre-open trading after Citigroup downgraded shares to hold.
