Market Update

Unemployment Declines

Elena
30 Mar, 2006
New York City

Stocks traded in the positive, supported by Best Buy and Nokia with investors digesting data on a modest GDP rise and decline of initial jobless claims. Best Buy posted a 13% rise in Q4 earnings on 16% sales growth. Nokia projected annual growth for worldwide mobile device sales to 15% from a prior target of 10%.

Best Buy Profits on Sales

Elena
30 Mar, 2006
New York City

Stocks opened higher,lifted by positive quarterly results from Best Buy and improved outlook from Nokia. Best Buy reported Q4 profit rise of $644 million, or $1.29 per share, boosted by strong sales of flat-panel televisions and MP3 music players. Gains by semiconductor and wireless stocks contributed to the strength in the tech sector. Gold, energy and brokerage stocks also posted strength.

GDP Grows 1.7%

Elena
30 Mar, 2006
New York City

Stock futures pointed to a flat start of Thursday session, reflecting oil prices increase. A plan announced by Google to sell 5.3 million shares for $2.09 billion also weighed. Best Buy Co. reported Q4 profit rise of $644 million, or $1.29 per share, boosted by strong sales of flat-panel televisions and MP3 music players. Revenue rose to $10.7 billion and comparable-store sales rose 7.3%.

Indian Market up 16%

Elena
30 Mar, 2006
New York City

Domestic and international investment in the Indian stock market is supporting the broad advances in large cap stocks. With the steady economic growth and strong consumer spending is supporting the stocks in the industrial, IT and banking sector. Sensex index gained for the fifth day in a row and added 1.1% for the day as the index closed at all-time high of 11,307.

LSE Slides 9%

Elena
30 Mar, 2006
New York City

European averages traded higher at mid-day, reflecting solid U.S. gains overnight, strong mining stocks and merger-and-acquisition activity. U.K. lender Alliance & Leicester rose 3.4% after it rejected a $10.1 billion offer from French bank Credit Agricole. The German DAX 30 rose 0.5%, the French CAC 40 climbed 0.6%, and London FTSE 100 surged 0.7%.

Nikkei Jumps Over 17,000

Elena
30 Mar, 2006
New York City

Asian-Pacific benchmrks closed mostly in the positive, supported by a strong rally on Wall Street. The Nikkei hit a new record, rising 0.6% to 17,045.34 for the first time in nearly six years. The Japanese index was boosted by technology and banking stocks. Hong Kong Hang Seng rose 0.9%, despite investors worries about interest rate increases. Taiwan Weighted index also climbed to 0.7% on tech shares. China Shanghai Composite fell 0.8% on property and metals stocks.

Broad Advance

123jump.com Staff
29 Mar, 2006
New York City

After the interest rate hike markets around the world adjusted to the higher rates and rose from Japan to UK,France, Germany, Mexico, India and Brazil. Crude oil, gold, silver and copper also staged a rally powering stocks in the energy and mining sector. Tech stocks staged a strong advance as hardware, software, Internet stocks rose and recent favorites Google and Apple made a comeback.

Tech and Financials Lead Gainers

123jump.com Staff
29 Mar, 2006
New York City

in the early afternoon trading tech stocks lead a strong rally in Nasdaq stocks with a gain of 1.4%. Financial brokers and investment bankers rise along with tech stocks. Three major averages are trading at their best level for the day as Dow and S&P join the tech lead advance. Energy stocks are on the move on volatile energy price and weekly energy report. Two REITs Boston properties and Kimco Properties will be added to S&P 500.

Energy Stocks Help Europe

Elena
29 Mar, 2006
Frankfurt

European averages closed higher as strength in energy stocks offset concerns about interest rate increases and mixed performance in the retail sector. The German DAX 30 rose 0.4%, the French CAC 40 climbed 0.6%, and London FTSE 100 gained 0.4%.

Google Leads Nasdaq up

Elena
29 Mar, 2006
New York City

Bargain hunting helped stocks trade in the positive with the Nasdaq jumping 1%, supported by 3.2% rise in Google shares and 5.4% rise in Sun Microsystems stock. The Dow was helped by shares of 3M Co. which rose 2.3%. Shares of GM fell 3.9% after saying it would restate financial results for financing arm GMAC from 2003 through the third quarter of 2005.

Strong Oil, Weak Gasoline

Elena
29 Mar, 2006
New York City

Bargain hunting helped stocks trade in the positive, recovering from the heavy losses posted yesterday after the Fed Reserve released its statement on interest rate hikes. Brokerage upgrades on 3M and Sun Microsystems lifted market sentiment. Shares of 3M rose 2.6%, while Sun Microsystems jumped 6.2%. Shares of GM fell 3.9% after saying it would restate financial results for financing arm GMAC from 2003 through the third quarter of 2005.

3M Gains on Upgrade

Elena
29 Mar, 2006
New York City

Stock started trading higher after the heavy losses posted yesterday on another increase of interest rates and signals, given by the Fed Reserve that hikes may continue. Brokerage upgrades on 3M and Sun Microsystems lifted market sentiment. Shares of 3M rose 2.6%, while Sun Microsystems jumped 6.2%. Meanwhile, UBS downgraded machinery giant Caterpillar to neutral from buy.

Stock Futures Rise

Elena
29 Mar, 2006
New York City

Stock futures were in a positive mood Wednesday morning, indicating a higher trading start after the heavy losses posted yesterday on another increase of interest rates and signals, given by the Fed Reserve that hikes may continue. Brokerage upgrades on 3M and Sun Microsystems lifted market sentiment. Shares of 3M rose 1.4%, while Sun Microsystems jumped 4.2%.

Sensex Scales Fourth Day Advance

Elena
29 Mar, 2006
New York City

Market in India rose for the fourth day in a row to a new high after adding 0.9% for the day and 3.2% in the last four days. Broad buying from the local and foreign investors led the advance but on a significant declining volume. Sugar and software exporters led the rally on higher sugar prices and rising earnings expectation.

European Stocks Recover

Elena
29 Mar, 2006
Frankfurt

European averages advanced, recovering from two-day declines. Stocks were supported by strength in Asian markets and largely ignored the weakness on Wall Street, following the Fed Reserve''s decision to increase interest rates. The German DAX 30 added 0.2%, the French CAC 40 rose 0.5%, and London FTSE 100 climbed 0.6%.