Elena
10 Jul, 2006
New York City
U.S. stock market futures moved higher ahead of the start of second-quarter earnings season, with aluminum-producing giant Alcoa scheduled to announce its results after the closing bell. General Electric, PepsiCo and Texas Instruments are also due to report quarterly earnings this week. In merger deals, Centro Watt, a U.S.-Australian joint venture, agreed to buy Heritage Property Investment Trust for $3.2 billion, or $36.15 a share.
Elena
10 Jul, 2006
New York City
The two sides are trying to reach an agreement by the end of 2006 aiming to slash tariffs and other trade barriers between the two countries. The talks received strong resistance from South Korean labor groups, especially farmers who have protested against any reduction in protections for agriculture, particularly rice.
Ivaylo
10 Jul, 2006
New York City
Asian markets seemed to have shrugged off the North Korea
Ivaylo
10 Jul, 2006
New York City
US stocks ended last week lower as investors grew uneasy over record high oil prices, rising labour costs and signs of economic softening. Investors appear to be worried that the July unemployment report may show rising wage inflation, which could force the Fed to hike the fed funds target at its August meeting. The U.K. FTSE 100 index declined 0.1%, the German DAX Xetra 30 index lost 0.1% and the French CAC-40 index sank 0.2%.
Ivaylo
10 Jul, 2006
Metals
For the moment, gold looks as though it ran out of buyers. So there is general profit-taking, which was more or less expected. Despite a weaker-than-expected payrolls reading from the U.S. and the dollar''s subsequent reaction, gold and the other precious metals have failed to find significant upside traction, with initial gains in both running into end of week profit-taking.
123jump.com Staff
07 Jul, 2006
New York City
Market averages declined on job report, worries of rising wage inflation, earnings warnings from 3M and sales declie at Advanced Micro. worries of stagflation, slowing economy and rising inflation, put market and investor on the edge. Tech stocks traded lower in NY and European trading. Asian markets recovered. Brazil and Mexico fell. India declined on political worries. 3M fell 9% on earnings warning.
Elena
07 Jul, 2006
Frankfurt
European markets closed slightly lower on weakness in the technology sector, following two high profile profit warnings. Weakness on Wall Street also contributed to the downward trend as the latest U.S. jobs data sparked concern the economy may be slowing to a point where corporate earnings may suffer. The German DAX 30 lost 0.2%, the French CAC 40 dropped 0.3%, and London FTSE 100 inched down to 5.888 points.
Elena
07 Jul, 2006
New York City
The industrial conglomerate 3M contributed to the weakness of Dow with a decline of 7% after it cut its Q2 and 2006 profit forecasts due to lower-than-expected sales. Advanced Micro Devices Inc. fell 65 cents to $23.18 after cutting its revenue forecasts. The announcement also send Intel Corp. lower, down 12 cents at $18.73. Record oil prices also weighed, with traders worrying that higher energy prices would hurt consumer spending.
Elena
07 Jul, 2006
Mumbai
News that the Indian government may fall led by a decision not to proceed with selling stakes in state-run firms disturbed the trading. The market was gripped in a sell-off after the government suspended all divestments as a key ally threatened to pull out of the ruling coalition. A rebound in ICICI Bank supported by a large block deal, at the end of session, aided recovery in the Sensex after it had lost over 300 points in late trade.
123jump.com Staff
10 Jul, 2006
New York City
Market gained in the early hours of trading but began to lose steam in the afternoon. European market closed higher and in the overnight trading Tokyo rebounded. Alcoa reported earnings of 85 cents vs 52 cents a year ago on revenue rise of 19%. AMD, EMC and Kronos traded lower on earnings warnings. Tech sector traded lower on broker downgrade. Oil and gold fell. Oil dropped 1.5% at mid-day. Getty Images droped to 20 month low.
Elena
07 Jul, 2006
New York City
U.S. stocks opened weaker, reflecting corporate profit warnings, record-high oil prices, and a weaker-than-expected jobs creation report, raising worries that the economy was cooling too quickly. Dow component 3M Co. dropped 7% on warning of lower-than-anticipated Q2 earnings. Micro Devices slipped 4.7% on warning of 6% drop in Q2 revenue.
Elena
07 Jul, 2006
New York City
Stock futures jumped on weaker-than-expected job growth, suggesting that the Fed Reserve might pause interest rate hikes. The Labor Department reported that 121,000 nonfarm payroll jobs were created in June, below expectations of 185,000 jobs and up an upwardly revised 92,000 in May. The unemployment rate remained at a five-year low of 4.6%, in line with expectations.
Elena
07 Jul, 2006
New York City
A federal lawsuit alleges breach of contract and violations of consumer protection laws, seeking class-action status on behalf of the more than 20 million customers AT&T Wireless had at the time of the merger. The lawsuit, based on complaints received by the Foundation for Taxpayer and Consumer Rights in Santa Monica, seeks up to treble damages for fees and charges paid by the AT&T Wireless customers.
Ivaylo
07 Jul, 2006
New York City
The weaker-than-expected data in the U.S. also raised hopes for a halt to interest-rate increases. Japan''s Nikkei 225 finished the day slightly lower, after giving back morning gains. Hong Kong''s Hang Seng Index also ended while South Korea''s Kospi index finished with a gain.
Ivaylo
07 Jul, 2006
New York City
Investors, also, nervously awaited US employment data for further clues on the likely direction of future US monetary policy. The airline sector in Europe provided some upside after a number of carriers reported June passenger numbers. The U.K. FTSE 100 index lost 0.4%, the German DAX Xetra 30 index decreased 0.5% and the French CAC-40 index slipped 0.5%.
