Elena
25 May, 2006
New York City
The Commerce Department released its revised report on Q1 GDP, which showed that GDP grew at an annual rate of 5.3% compared to the 4.8% growth previously reported. The increase was primarily due to upward revisions to private inventory investment and exports. The report also showed that consumer prices, excluding food and energy prices, rose 2% in Q1, unchanged from the previous report.
Elena
25 May, 2006
New York City
U.S. stock futures looked poised to a flat or slightly higher opening, supported by Wal-Mart which gained 2% in pre-market trading after Banc of America Securities raised the stock to a
Elena
25 May, 2006
New York City
The lower IPO price is a consequence of a volatile market and concerns about its increasing legal problems. Today 61.52 million shares, representing a 46% stake in the company, will begin trading under the symbol MA. The deal values MasterCard, owned by its 1,400 member banks, as an almost $6 billion company.
Ivaylo
25 May, 2006
New York City
Deaths, connected with the sudden outburst of bird flu in Indonesia ground down market confidence. In afternoon trading, the Nikkei 225 Average dropped 1.5%, led down by financials and export stocks in spite of dollar strength versus the yen. Shares across the region also fell. Australia, Shanghai, South Korea and Singapore declined considerably. Taipei fell slightly. Malaysia slid into the red after modest gains in early session.
Ivaylo
25 May, 2006
Frankfurt
New York closed up on Wednesday reflecting investors
Ivaylo
25 May, 2006
Metals
A turnaround occurred from the previous day when gold increased considerably. The recovery didn
123jump.com Staff
24 May, 2006
New York City
Market averages closed higher after trading in a volatile patttern during the day. Better-than-expected sales of new home sales in April and larger-than-expected drop in durable goods orders kept investors guessing. New home sales rose 4.9% at a seasonally adjusted annual rate of 1.198 million homes. Invenotry of new homes unsold remained high. Oil fell at close and gold closed 5% lower. On New York Stock Exchange, despite rising indexes decliners led advancers by 9 to 7.
123jump.com Staff
24 May, 2006
New York City
Market averages maintained volatile trading path and turned positive as it approached last trading hour. Averages are on the upswing as buyers are taking advantage of steep losses in tech, retail, consumer finance and industrial stocks. Williams-Sonoma reported 22 cents a share profit, Autozone stated $1.89 per share Payless ShoeSource reported 53 cents per share. Borders reported wider than expected loss of 29 cents per share.
123jump.com Staff
24 May, 2006
New York City
Market averages responded to home sales and durable goods orders. Better than expected new-home sales and larger than expected drop in April durable goods orders kept investors in a limbo. Market averages maintained a negative bias in the afternoon trading. Payless ShoeSource reported 53 cents per share earnings beating forecast of 40 cents. Retailer Autozone and Williams-Sonoma report lower earnings but Fred''s report higher earnings. IPO of upstart telecom Vonage dropped 15%.
Elena
24 May, 2006
Frankfurt
European markets closed in the negative, reflecting significant weakness among industrial, mining and airline stocks. Weakening dollar hurt shares of industrial exporters like Siemens and Sweden
Elena
24 May, 2006
New York City
Stocks traded in the positive. Housing stocks rebounded after the Commerce Department reported that new home sales rose 4.9% to a seasonally adjusted annual rate of 1.198 million units in April from a downwardly revised rate of 1.142 million units in March. Economists had expected a decline to a 1.150 million unit rate. Vonage Holdings slipped in its trading debut after the company set its IPO at $17 a piece, the midpoint of its expected price range. Vonage was down $2.47.
Elena
24 May, 2006
Mumbai
Shaky metal and auto shares, as well as some blue chips were the primary cause for the market downfall. Volatility was high, as Sensex oscillated nearly 500 points, with the weakness pressing on the bourses in the second half of the trading day. The fall was in stark contrast to an upbeat mood on some Asian markets, such as Japan
Elena
24 May, 2006
New York City
Shortly after opening stocks turned lower as a rebound in oil and gold prices initially lifted the market, but renewed inflation jitters triggered broad selling. Market extended recent losses, despite a steep drop in durable goods orders that fed hopes that the Federal Reserve may soon stop raising interest rates. General Motors rose 4% after Meryll Lynch upgraded the carmaker to buy from neutral.
Elena
24 May, 2006
New York City
The Commerce Department reported that new orders for durable goods fell 4.8% in April following a 6.6% increase in March due largely to a significant drop in orders for transportation equipment, which fell 12.7% in April. The decrease was much steeper than the modest 0.5% decline that economists had been expecting.
Elena
24 May, 2006
New York City
The new owners of Philadelphia''s two major daily newspapers will have to solve two major problems- reversing circulation declines and shrinking profits. The local investors hope to boost business by emphasizing local news and doing more with the Internet.
