123jump.com Staff
17 Aug, 2006
Metals
For the third day in a row market averages spent the entire trading day in the positive range. The 2.5% drop in oil price and similar drops in gasoline and gas price kept broader averages rising. Internet, banks, construction and home builders eked out small gains. Energy related stocks fell. Gold fell close to $14. Merck lost two separate trials related to Vioxx.
Elena
17 Aug, 2006
Frankfurt
European markets ended in the positive after a lackluster trading session with no major data reports and little corporate news. Still, sharply lower oil prices provided support for the market. Among advancing stocks, truck maker Volvo rose 5%, automaker Renault gained 2.8%, while Van der Moolen added 2.1%. The German DAX 30 gained 0.4%, the French CAC 40 edged up 0.2%, and London FTSE 1200 inched up 0.1%.
Elena
17 Aug, 2006
New York City
Stronger-than-expected earnings from Hewlett-Packard and a sharp decline by the oil price helped stocks rebound from earlier weakness on profit taking. Hewlett-Packard shares rose more than 5% to $36.26, reaching a five-year high. Broadline retailer Sears Holdings said its Q2 earnings surged 83% to $1.88 a share from 98 cents last year, due to lower expenses and an increase in gross margin. Despite the upbeat results, shares of the company declined 3.4%.
Elena
17 Aug, 2006
Mumbai
The Sensex Index recorded seven straight days of gains, advancing more than 6% in that period. Strong trading in blue-chip stocks helped the market finish higher. The trading was highly volatile and the market-breadth was negative due to strong buying in small-cap and mid-cap stocks. Auto, engineering, and telecom sectors led the advancers, while aluminum, banking, energy and steel stocks dropped the most.
Elena
17 Aug, 2006
New York City
The Department of Labor reported that jobless claims in the week ended August 12 fell more than expected. Initial jobless claims fell to 312,000 from the previous week''''s revised figure of 322,000. Economists had expected a decline to 315,000 from the 319,000 originally reported for the previous week.
Elena
17 Aug, 2006
New York City
Stock futures pointed to a flat opening following three consecutive sessions of gains. Tech stocks are expected to rise after Hewlett-Packard reported Q2 profit jump to $1.38 billion, or 48 cents a share, compared with $73 million, or 3 cents a share a year ago due to strong sales in its printing and personal-computer businesses. Revenue rose 5.2% to $21.89 billion. The company also authorized a buyback of up to $6 billion worth of company stock.
Ivaylo
17 Aug, 2006
Frankfurt
Techs continued their strong run to three days as investors regained their desire for riskier, higher growth assets.That together with mining stocks and the tame consumer prices helped Europe to a good start. By mid-morning, London
Ivaylo
17 Aug, 2006
New York City
Asian companies that rely on U.S. sales gained on expectations that a slowdown in the increase of core consumer prices suggested an improving American economy and stronger consumer spending. Oil-related shares fell, while airline stocks, auto shares and the steel sector advanced. Japan and HK fell but the Nikkei and Hang Seng were both running into correction pressure after their recent strong run.
Ivaylo
17 Aug, 2006
Metals
The market is reacting well to the slightly weaker U.S. dollar. The reaction of the market seems to back the attitude of the Fed of a slightly slowing economy that is going to keep inflation relatively in check and reduce the need for further rate hikes. That has put a little pressure on the dollar.
123jump.com Staff
16 Aug, 2006
New York City
For the second day investors found a reason to cheer. CPI for the month of July rose 0.4% and core rate rose at 0.2%, lower than expected. After a mild rise in PPI and CPI, averages gained for the second day in a row. European markets gained a fraction but Mexico and Brazil rose near 1%. Gold gained, oil fell. Abercrombie and Big Lots gained 10%. HP reported earnings of 48 cents after the close. stock rose 7% in the after-market trading. The board authorized $6 billion stock repurchase plan.
Elena
16 Aug, 2006
New York City
European markets finished in the positive, helped by weaker-than-expected U.S. consumer inflation data. Technology stocks led advancers, with mobile phone maker Nokia and software giant SAP rising 2.8% and 3.4% respectively. The German DAX 30 rose 0.6%, the French CAC 40 advanced 0.4%, while London FTSE 100 slipped 1.30 points to 5,896.
Elena
16 Aug, 2006
New York City
Stocks traded higher on tame inflation figures that added to speculations the Fed Reserve might not raise rates in the near future. The housing market showed more signs of slowing, with housing starts falling to an annualized rate of 1.795 million in July, down from 1.85 million in June. Abercrombie & Fitch Co. jumped 10% on 14% profit increase in Q2. Big Lots Inc. added 1.2% after posting a Q2 profit from a year-ago loss. Estee Lauder Cos. Inc. saw 3.7% decline after its Q4 profits slid 33%.
Elena
16 Aug, 2006
Mumbai
Fall in oil price in the international market, rising markets in Asia and a prospect of weak inflation in the U.S. helped market in India to rally for the second day of this week. Oil, construction and banking sector stocks led the rally. Infosys fell in the last hour of trading and managed to trim some of the day
Elena
16 Aug, 2006
New York City
Big Lots led percentage gainers among components of the S&P Retail Index, rising 5.3% on a surprising swing to profit in Q2 and lifted oitlook. Abercrombie & Fitch reported Q2 earnings increase of 72 cents a share vs. 63 cents a year ago, beating estimates by a penny. Estee Lauder posted Q4 net income fell 33% to 21 cents a share from 30 cents a share a year ago, missing expectations.
Elena
16 Aug, 2006
New York City
The consumer inflation index jumped as a considerable rise in energy prices of 2.9% offset the biggest decline in clothing costs in nearly two decades. Core inflation, excluding food and energy, slowed in July, rising by just 0.2% after four straight months of 0.3% gains.
