Elena
05 Mar, 2007
New York City
U.S. market averages gained some ground after the initial sharp decline. The Dow bounced into the positive territory, helped by technology socks. Blue-chip stocks were led higher by Hewlett-Packard and IBM, each rising over 1%. However, the broader market remained below the flat line amid concerns in the subprime mortgage market and global markets jitters.
Elena
05 Mar, 2007
New York City
Wall Street started trading sharply lower, reflecting rally in the Japanese yen, weakness across Asian and European markets, and growing concerns in the subprime mortgage market. Sub-prime lender New Century Financial slipped 57% after announcing that it is under investigation by federal regulators. The Dow was led to the downside by aluminum producer Alcoa, down 2.78% and broker J.P.Morgan Chase, down 1.8%.
Ivaylo
05 Mar, 2007
New York City
London stocks plunged on Monday, as sharp losses on leading Asian exchanges overnight offset hopes of a recovery after the steep falls last week. The FTSE 100 index fell below 6,000 for the first time since October last year. Shares in British Airways and leading miners such as Xstrata and BHP Billiton led decliners. By midday the FTSE 100 was 1.5% lower at 6,027.7, a loss of 89 points.
Elena
05 Mar, 2007
New York City
U.S. stock futures pointed Monday to a lower opening for another straight session, with the yen posting strength and thus hurting hedge funds. Worries over the health of the U.S. second-biggest subprime lender, New Century Financial, also generated negative sentiment. Company''s stiock tumbled 57% in the pre-open after it said it is a target of a federal criminal probe and is likely to breach a major lending covenant with its financial backers.
Ivaylo
05 Mar, 2007
New York City
Asian makets plunged sharply across the region, with Japanese stocks falling for the fifth session in a row, while Hong Kong dipped 4%. In Japan, exporters were hit hardest on the recent rally of the yen. HK stocks dived to close below 19,000 for the first time since mid-December, on currency worries and expectations of poor earnings figures from HSBC. South Korea tracked sharp declines in global markets, with steelmaker Posco and builders leading losses. Australia and Shanghai also plunged.
Ivaylo
05 Mar, 2007
New York City
The benchmark index opened with a negative bias, following weakness in the world markets. The market continued to decline throughout the trading on heavy selling in all sectors. Ranbaxy, Maruti Udyog led the decliners in a highly volatile session with a very weak market-breadth. Overnight cash rates fell to 18-month lows on Monday and bond yields rose. The rupee dropped the most in almost four months.
Ivaylo
05 Mar, 2007
New York City
European stocks dropped sharply on Monday, after suffering their worst week in four years, with investors facing concerns including mortgage lending in the U.S., the strength of the Japanese yen and Chinese stock valuations. U.S. stocks ended sharply lower on Friday, with about half the session losses coming after European markets had finshed. Asian markets also declined sharply. The German DAX Xetra 30 dropped 2%, the French CAC 40 fell 1.8% and the U.K. FTSE 100 lost 1.4%.
Ivaylo
05 Mar, 2007
New York City
Speculators continued to sell off gold and silver futures Friday, triggering sell stops. The market witnessed massive speculative liquidation in gold and silver. The behavior of precious metals prices this week has confounded investors. Copper also fell as well as the energy stocks. Corn, wheat and soybeans declined too.
123jump.com Staff
02 Mar, 2007
New York City
U.S. stocks moved lower, sinking gradually throughout the day as traders fretted about the possibility of a prolonged period of weakness in equities, as major indexes are now about 5% below their recent closing highs. Declining consumer confidence Technology stocks were among the most heavily traded, and some lost substantial ground. Advanced Micro Devices lost 4.1%, Intel fell 1.3% and Cisco Systems was down 1.6%. Gap reported a 35% decline in Q4 profit.Gold fell 5%, silver dropped 6%.
123jump.com Staff
02 Mar, 2007
New York City
Stocks fell, setting Wall Street on course for its worst week in more than four years, as the diminishing appetite for riskier assets fueled a further rout in global equity markets. The Dow Jones is trading near 1% lower. Technology stocks were among the stock market''s biggest gainers at the start of the year as investors bet on a profit recovery. Apple shares fell 1.9%, while shares of Qualcomm lost 1.6%.
Elena
02 Mar, 2007
New York City
European stocks closed down on Friday, failing to sustain earlier gains for the second session in a row. Markets turned in their worst weekly performance in 4 years, depressed by various concerns, including China''s economy and U.S. mortgages. Among companies in focus, Adecco fell 4.6%, Deutsche Telekom fell 2.4%, and the German SAP slipped 2.2%. The French CAC 40 dropped 0.6%, the German DAX 30 slipped 0.6%, and the U.K. FTSE 100 index closed a fraction of a percentage point higher.
Elena
02 Mar, 2007
New York City
U.S. stock markets showed willingness to stabilize and gained some ground in late morning trading after heavy losses at opening on the back of surging Japanese yen. The recovery by the major averages was largely contributed by strength in the computer hardware, airline, and retail sectors. Palm rose 8.3% on acquisition speculations, while Dell shares gained 1.7% even after posting Q4 earnings drop of 33% and issuing a downbeat outlook.
Elena
02 Mar, 2007
New York City
U.S. stocks started trading in the negative, dragged by the rallying Japanese yen vs. the dollar and more unfavorable news for supbrime lenders. American International Group helped limit losses, rising 2% after the insurance giant reported a jump in net income, an $8 billion share buyback and dividend plan. Subprime lender New Century Financial fell 2.5% as it delayed the filing of its quarterly profit.
Ivaylo
02 Mar, 2007
New York City
Asian markets closed mostly lower, with Japan dipping more than 1%, as the market extended losses after a week of declines, but HK and Shanghai bucked the trend on bargain-hunting. Japanese stocks fell on exporters on worries that the U.S. economy might be slowing. Shares in Shanghai rose as investors took to bargain large-caps while in Hong Kong, bargain-hunting for Chinese telecommunication stocks led shares higher.
Elena
02 Mar, 2007
New York City
U.S. stock futures pointed to a steeply lower opening on Friday, hurt by concerns over the dollar''s weakness versus the Japanese yen, and a downbeat outlook from Dell. The computer maker traded 3% down after reporting 33% profit decline in Q4. Novell shares dipped 3.9% in the pre-open after posting an unexpected quarterly loss and a 5% revenue decline.
