Elena
02 Jun, 2006
New York City
Stocks turned mixed reversing from the initial strength as signs of weak jobs growth offset optimism for a pause in interest rate increases by the Fed Reserve. Interest-rate sensitive companies like banks and insurers advanced. J.P. Morgan Chase & Co. rose nearly 1%, while Wal-Mart Stores, a stock vulnerable to weaker consumer spending, lost 1.2%.
Elena
02 Jun, 2006
Mumbai
The Sensex remained upbeat after a head start in the early trading, adding up 380 points by the end of the session. Trading in blue-chips drove the market upwards, despite the negative market breadth. Market experienced a high degree of volatility and traded in the range of 466 points. The recovery of the global markets also helped the benchmark find its feet.
Elena
02 Jun, 2006
New York City
Stocks extended rally in opening hours, boosted by weaker-than-expected nonfarm payrolls data for May, which helped ease inflation concerns and raised hopes that the Fed Reserve will halt its interest-rate hikes.
Elena
02 Jun, 2006
New York City
The Labor Department reported that new jobs generated last month advanced by 75,000 only, the smallest since October. A slowdown in wage growth is a development that should ease inflation concerns. The unemployment rate dropped slightly from 4.7% in April to 4.6% in May, the lowest since July 2001.
Elena
02 Jun, 2006
New York City
If approved by regulators and shareholders, the consolidation of the NYSE Group Inc. and Euronext would create a single platform where traders could deal in stocks, options, futures, commodities and corporate bonds across two continents for up to 12 hours daily. NYSE Euronext would manage about $2.1 trillion in stock trades each month and boast a market value of about $20 billion.
Ivaylo
02 Jun, 2006
New York City
Japan''s Nikkei 225 Index finished a 1.8% higher in spite of a hesitant start while Hong Kong''s Hang Seng Index ended up 1.7%. Singapore''s benchmark Straits Times Index closed up 1.4% and the Korea Composite Stock Price Index, or Kospi, closed 1.1% higher. Australia''s benchmark S&P/ASX 200 advanced slightly to close 0.3% up.
Ivaylo
02 Jun, 2006
Frankfurt
NYSE agreed to buy Euronext, topping a rival bid from Deutsche B
Ivaylo
02 Jun, 2006
Metals
Gold, traditionally seen as a safe haven against inflation, would become a less attractive commodity if the Fed raises interest rates to control inflation. The six-week low was witnessed in the middle of a spell of fund selling and profit-taking as the dollar advanced and oil prices fell earlier in the day.
123jump.com Staff
01 Jun, 2006
New York City
The race to create global exchage has begun with the first deal between NYSE and Euronext. The combined exchange will have a market cap of $20 billion beating the current leader Chicago Mercantile Exchange with a market cap of $15.5 billion. The proposed deal is to facilitate easy trading on stocks and derivatives in countries in Belgium, France, the Amsterdam, Portugal and the U.S.
123jump.com Staff
01 Jun, 2006
New York City
Market averages rose in the first day of June after declining at record level in May. Investors returned to buy shares on retail sales, manufacturing activity and construction spending data. Investors for a day suspended their worries of rising inflation. Tech stocks led the upsurge and closed at the best level of the day.
123jump.com Staff
01 Jun, 2006
New York City
Rising fuel prices and interest rates are weighing on auto sales. Domestic auto makers reported decline in auto sales as reported by GM, Chrysler and Ford. Nissan sales dropped 7% but sales at Toyota rose 17% bucking the trend. Sales of cars and trucks declined across the board. Ford F-Series truck reported flat sales. Toyota stock rose less than 1% in trading in New York.
Elena
01 Jun, 2006
Frankfurt
European markets finished in the positive territory. The upward move was largely contributed by U.S. economic data, which helped ease inflation and interest-rate concerns. Strong results from Man Group sent the stock up 3.4%, providing support to the market sentiment. The German DAX 30 gained 0.3%, the French CAC 40 rose 0.4%, and London FTSE 100 climbed 0.5%.
Elena
01 Jun, 2006
Mumbai
The drop was broad-based, hitting stocks across the board with metal shares buffeted. The fall intensified in the latter part of session. Earlier, the market started on the right foot, led by good news from other Asian markets, but the surge was quickly snapped off. The weakness of the market stemmed from the unyielding defiance of left parties to hike oil prices.
Elena
01 Jun, 2006
New York City
The Department of Commerce reported that construction spending in April unexpectedly fell by 0.1%, following an unrevised 0.9% increase in March. Economists had been expecting construction spending to increase by 0.2%.
Elena
01 Jun, 2006
New York City
Major retail companies reported generally higher same-store sales for May. Gymboree posted 19% rise in same-store sales, while Abercombie & Fitch reported that May same-store sales rose 3% and total sales climbed 17% to $185.7 million. Nordstrom and Limited Brands posted same store sales growth of 7.8% and 7% respectively, exceeding analyst estimates.
