123jump.com Staff
06 Sep, 2007
New York City
Same store sales overshadowed the trading sentiment in New York. Market averages gained as investors surmised that retail spending is likely to remain at elevated level despite higher energy cost and worsening lending crisis. Consumers kept shopping in August lifting the sales by 2.9%. However, record number of U.S. homes in foreclosure. Gold crossed $700, oil above $76. The rising metal prices and weak dollar helped European stocks. India, Korea, and Taiwan led Asian markets with a gain of 1%
Elena
06 Sep, 2007
New York City
European stock markets finished in the positive territory Thursday, helped by strength among mining companies on the back of rallying metals prices, deal speculation and a decision made by the ECB and the BoE to keep interest rates unchanged. Upbeat U.S. data also generated positive sentiment, helping to ease fears of a greater-than-expected slowdown in the U.S. economy. Across the region, the U.K. led advancers with a gain of 0.7%, followed by France, up 0.5% and Germany, rising 0.4%.
Elena
06 Sep, 2007
New York City
U.S. stock averages turned to a lackluster trading fashion, as ongoing credit market and housing worries offset upbeat sentiment generated by largely positive economic data and retail sales in August. The Mortgage Bankers Association said in a report Thursday that the share of all U.S. mortgages entering foreclosure hit an all-time high of 0.65% in Q2, rising from 0.58% in Q1, The number of subprime borrowers making late payments rose 14.82% from 13.77%.
Elena
06 Sep, 2007
New York City
The Campbell Soup said its Q4 earnings jumped 39% to $61 million, or 16 cents a share, up from $44 million, or 11 cents per share a year ago. Its revenue rose to $1.59 billion from $1.45 billion. However, its profit from continuing operations fell 37% in the latest quarter. The stock dropped 3%. UTI Worldwide added 2.5% after it reported a 20% drop in Q2 earnings, citing slower revenue growth.
Elena
06 Sep, 2007
New York City
U.S. stocks bounced back into the positive territory at opening, boosted by a sharp drop in U.S. jobless claims and a stronger-than-forecast productivity report. Some better-than-expected retail sales reports also provided support. The Labor Department said initial claims for state unemployment benefits fell by 19,000 after five straight weeks of increases. Productivity in the U.S. nonfarm business sector was revised up to an annual rate of 2.6% in Q2 from 1.8% gain repored earlier.
123jump.com Staff
06 Sep, 2007
New York City
Sensex in India rebounded 1.1% reflecting general trading sentiment. Stocks in Mumbai closed higher in a broad rally in auto, cement, banks, and financial stocks. of the 30 stocks in the index 27 closed higher and 1,700 increased in value in BSE trading. State Bank of India is planning 1,500 crore bond offering in Mumbai. Auto stocks rallied lifted by general sentiment in the market. Refineries are seeking 15% price increase in diesel, 6% in petrol, and 30% in kerosene.
Elena
06 Sep, 2007
New York City
U.S. stock futures pointed to a negative opening of Thursday trading session ahead of key economic data expected to show slowing growth in the services sector. Investors looked past a better-than-forecast performance from retailers in August, showing disbelief that the strong spending of the back-to-school season would continue into the coming months. Wal-Mart Stores advanced 2% in pre-market trading after reporting a stronger-than-forecast 3% sales rise for August.
123jump.com Staff
06 Sep, 2007
New York City
Tokyo market closed higher after declining for three days in a row. Nikkei 225 index closed up 0.6% but traded as low as 2% in the morning trading. The volatile U.S. markets have kept investors in Japan on the side line and trading volume remain near low levels. Digital camera exports surged 35% in July. Nissan and Renault are in talks with Bajaj Auto to make $3,000 car in India. Real estate stocks fell for the second week. Investors worried that the U.S. subprime crisis will hurt sector.
Elena
06 Sep, 2007
New York City
Wal-Mart Stores posted Thursday 3.1% increase in August same-store sales, compared with estimates of 1.5% increase. Saks said its August same-store sales jumped 18.2%, exceeding two times analyst expectations of a 9.2% increase. Among other companies posting upbeat results, Wet Seal, retailer of apparel and accessories, reported higher-than-expected 1.7% increase in August same-store sales. Analysts had anticipated 0.6% rise in comparable sales.
123jump.com Staff
05 Sep, 2007
New York City
The Fed Beige Book indicated that the current credit market difficulties are limited to housing sector. Auto and furniture sales turning lower but the other sectors in the economy are not affected. Investors hoping for rate cut were disappointed dragging the averages lower. Home Builders, banks, and brokerage stocks fell. Commercial real estate stock fell sharply. European and Latin American markets closed lower.
Elena
05 Sep, 2007
New York City
European stock markets closed steeply in the negative territory, pressured by weakness in the banking and automotive sectors. Merrill Lynch European said that they remain negative on financial services, travel and automotive firms in Europe. Across the region, France and Germany tumbled 2.1%, followed by the U.K. which dropped 1.7%.
123jump.com Staff
05 Sep, 2007
New York City
Sensex in Mumbai trading edged lower as investors reacted local news. Ambuja Cements sales in August sales increased 3%. Maruti, largest auto maker, hinted that higher interest are likely to damped sales grwoth for the rest of the year. Akruti Nirman purchased land in Mumbai for 350 core rupees. Bajaj and TVS patent spat continues. Sugar companies rallied as investor hoped that ethanol sales will drive the sugar prices higher.
Elena
05 Sep, 2007
New York City
U.S. stock averages moved further to the downside after economic data showed existing home sales hit a record low of 12% and a separate gauge of employment prompted downward revisions of nonfarm payrolls report for August. The Dow dropped 165 points, or 1.2%. Financials were notable losers, with American Express falling 2.3% and J.P. Morgan Chase losing 1.9%.
Elena
05 Sep, 2007
New York City
U.S. stocks tumbled on a heavy sell-off amid a report showing a steep decline in pending home sales. The U.S. housing market showed signs of major mortgage disruptions after the National Association of Realtors said existing homes dropped 12.2% in July, the largest drop since the pending homes sales index started in 200. On the one hand, the report was in favor of an interest rate cut, on the other, it intensified worries about economic growth. The Dow dropped 160 points.
123jump.com Staff
05 Sep, 2001
New York City
Property stocks led Tokyo market lower. The volatile index has been trading lower in the last three sessions as uncertainty in the U.S. housing sector hobble investor interest. Low trading volume persists in Tokyo trading for the last two months. Sony jumped after the news that it plans to sell a stake in its financial service subsidiary for 332 billion yen in public offering.Commercial real estate stocks are likely to fall further if investors lose interest in Japan property market.
