Ivaylo
11 May, 2006
Metals
Worries over inflation have been an integral part of the bullish mood powering the rally in the metal trading, together with tensions over Iran
123jump.com Staff
10 May, 2006
New York City
The Federal Reserve increased interest rates by a quarter percent to 5%. The market average has already factored in the rate hike. Baidu.com, Inc reported a revenue increase of 196.8% to $16.9 million, compared to the estimated $15.14 million. Cisco revenue rose 18% topping expectations by $.15 billion. Toyota Motor Corp reported a 39% rise in fourth quarter profit. Legg Mason, Inc reported its net income $1.03 a share, short of the anticipated $1.25 a share.
123jump.com Staff
10 May, 2006
New York City
The Federal Reserve raised interest rates a quarter percent to 5%, the highest level in five years, forcing U.S. stocks down. Whirlpool Corp. said it will consolidate operations by cutting 4,500 jobs and closing several plants as part of its acquisition of Maytag Corp. Baidu.com, Inc. reported earnings of $4.4 million. Legg Mason was 22 cents a share short of expectations. Toyota reports that it sold .3 million more vehicals in North America that it did a year ago.
Elena
10 May, 2006
Frankfurt
European markets extended earlier losses to finish in the negative ahead of the U.S. Fed Reserve interest-rate decision. Weaker dollar pressured export-related issues like tech stocks Infineon Technologies, Philips Electronics, and SAP. However, carmaker DaimlerChrysler rose 1.2% as Deutsche Bank upgraded the company to buy from hold. The German DAX 30 dropped 0.4%, the French CAC 40 declined 0.6%, and London
Elena
10 May, 2006
New York City
Major averages turned mixed in late morning trading. The Dow moved to the upside supported by General Motors, up 2.3%. The Nasdaq traded lower as disappointing forecasts from Cisco and Federated weighed. Disney reported earnings increase of 12% last quarter, helped by strong television ratings and increased theme park attendance.Toyota Motor posted Q4 net profit rise of 39% on 18% sales growth.
Elena
10 May, 2006
Mumbai
Indian bank stocks were boosted by hopes that U.S. fed will stop hiking the rates, a policy, followed for almost two years now. Solid metal prices in the global markets pushed metal stocks up. Copper jumped over $8000 a ton on supply fears, igniting a dizzying rally. Reliance Industries gained, ahead of the listing of its subsidiary Reliance Petroleum on Thursday. Cement and auto shares declined.
Elena
10 May, 2006
New York City
Stocks opened lower Wednesday as investors anxiously awaited Fed Reserve interest-rate decision. Negative sentiment was also generated by disappointing forecasts from Cisco Systems and Federated Department Stores. Cisco shares dropped 3%. Federated fell 3%. The company posted Q1 loss of 19 cents per share vs. profit of 71 cents a year ago, citing costs from acquiring May Department Stores.
Elena
10 May, 2006
New York City
U.S. stock futures pointed to a weak opening ahead of Fed Reserve interest-rate decision, due out in the afternoon. The benchmark fed funds rate is expected to be raised by a quarter of a point to 5%. In pre-market trading BIDU shares jumped 27% after China''s Web search system reported sharply higher quarterly earnings. Cisco Systems reported better-than-expected profit, but fell about 0.8% on a disappointing revenue forecast.
Elena
10 May, 2006
New York City
Asian markets finished largely in the negative, dragged by weaker dollar and cautiousness ahead of U.S. Fed Reserve interest-rate decision. The Nikkei dropped 1.4% to 16951.93 as the weak dollar weighed on exporter-related issues. Shanghai Composite rose 1%, extending gains to hit a 2-year high on fresh fund flows. Hong Kong
Elena
10 May, 2006
Frankfurt
European stocks traded in a tight range at midday as investors were cautious ahead of the U.S. Fed Reserve interest-rate decision. In addition, weaker dollar pressured export-related stocks. Shares of tech companies like Infineon Technologies and Philips Electronics moved lower. Automakers were supported by DaimlerChrysler which rose 2.5% as Deutsche Bank upgraded the company stock. The German DAX 30 gained 0.2%, the French CAC 40 lost 0.1%, and London
Ivaylo
10 May, 2006
Metals
U.S. benchmark gold futures finished at a 26-year high of $701.50 an ounce, up $21.60 on the day, the highest price for the leading U.S. gold futures contract since September 1980. The rally on gold was driven by tensions over Iran''s nuclear plans, inflationary concerns and speculations about China''s gold reserves. Platinum, palladium and silver also hit record highs.
123jump.com Staff
09 May, 2006
New York City
Market averages braved higher ahead of the Fed meeting. widely expected rise in interest rate after the Fed meeting tomorrow may set the stage for market volatility in the afternoon. Coach reported $500 million buy back. Cisco reported better sales after-the clsoe. Gold crossed $700 for the first time since 1980. Copper and silver rose to yet another record high. General Motors rose on borker upgrade. Google jumped $14 at close. Mining and mineral stocks rally. Brazil and Mexico close up.
123jump.com Staff
09 May, 2006
New York City
US averages see little change early in the afternoon with DOW and S&P having modest gains and NASDAQ down only slightly. Prices light crude oil rose $1.63 to $71.40 from $69.77 on Monday. Oil prices are still short of the record highs seen in April of this year when prices reached $75.35 a barrel. Gold climbed over $700 today for the first time since October of 1980, the highest futures level in almost 26 years. Sara Lee Corp reported earnings of 6 cents vs. 24 cents a year ago.
Elena
09 May, 2001
New York City
European markets closed higher, lifted by gains in the telecom and automotive sectors which helped offset weakness among tech stocks. Vodafone Group rose 3.2% on a report that U.S. Verizon Communications offered to buy out Vodafone''s 45% stake in Verizon Wireless for $38 B. Renault and Volkswagen rose 3% and 4% respectively, following a brokerage upgrade on General Motors. The German DAX 30 added 0.2%, the French CAC 40 rose 0.6%, and London FTSE 100 climbed 0.6%.
Elena
09 May, 2006
New York City
Stocks were mixed, reflecting cautious trading ahead of FOMC meeting on Wednesday and weakness among tech stocks on disappointing news from Dell. Computer giant Dell dropped 6% as the company issued lowered profit guidance. General Motor rose 4.2% after the company revised its Q1 loss to a profit due to an accounting change. The automaker was helped by an upgrade by Deutsche Bank which raised its rating on the stock to hold from sell.
