Elena
08 Jun, 2006
New York City
Stocks were mixed in early trading. Concerns about interest rates increases weighed on the Nasdaq and S&P 500, while the Dow advanced due to a strong gain by Procter & Gamble after reaffirming its Q4 earnings guidance and advanced by shares of McDonald''s on better-than-expected May comparable sales.
Elena
08 Jun, 2006
New York City
Stock futures pointed to a weak opening after the ECB raised interest rates, reinforcing an upward trend in global rates. In earnings news, H&R Block, tax-preparation company, reported Q4 net income of $1.77 a share, 4% below a year ago when the company earned $1.83 a share. BMC Software, enterprise management software firm, reported Q4 net profit more than quadrupled to 31 cents a share, from 7 cents a year ago.
Elena
08 Jun, 2006
New York City
Soci
Ivaylo
08 Jun, 2006
New York City
Japan
Ivaylo
08 Jun, 2006
Frankfurt
Concerns prompt that the higher interest rates may hold back economic growth. The European Central Bank releases its interest rate decision at 1145 GMT later today. Most analysts are forecasting a quarter point rate rise to 2.75%, but a small minority expect a decisive 50 basis point rise. That, together with the most likely raising of U.S. rates by the Fed, is ample food for worries about economic growth.
Ivaylo
08 Jun, 2006
New York City
Bernanke''s remarks were considered a signal of further rate increases, sending the dollar up against its major rivals. Another factor for the decline of gold was the hope for a break in the diplomatic impasse over Iran''s nuclear program. Both Tehran and Washington are positively viewing the West''s offer of incentives if Iran stops uranium enrichment.
123jump.com Staff
07 Jun, 2006
New York City
Nervous invesotrs have still not embraced the rise of interest rates as a distinct possibility in the next Fed meeting. Tug of war continues as investors in two opposing camps struggle to define the direction of interest rates and market. Market advanced, close to 1%, after falling for several days, only to lose the entire gain of the day. Market managed to make a mild comeback in the final trading hour. Gold fell as much as $12 but closed only $2 lower and oil fell 3%.
Elena
07 Jun, 2006
New York City
European markets finished largely in the positive, trying to recover from the sharp declines posted Tuesday and awaiting the European Central Bank meeting on Thursday to decide future interest-rate policy. The euro fell 0.5% to $1.2764. London FTSE 100 rose 0.3%, the German DAX 30 added 0.1%, while the French CAC 40 fell 0.1%.
Elena
07 Jun, 2006
New York City
Stocks advanced in late morning on bargain hunting, although interest rate concerns helped limit gains. Helping the Dow, United Technologies Corp. added 1.4% after positive comments from Deutsche Bank. Shares of Google Inc. rose 0.6% after one of the company''s founders met with U.S. lawmakers to press for legislation that would prevent Internet access providers from charging Web sites more for faster content delivery.
Elena
07 Jun, 2006
Mumbai
The Indian benchmark looked fit to recover in the morning session, after shedding 100 points climbed back above 10,000. Later in the session, though, it swung 443 points, striking a low of 9,609.21, to close at 23% lower from its record high of 12,671.11.
Elena
07 Jun, 2006
New York City
Stock futures indicated a fairly positive start of Wednesday session, supported by a late upward momentum yesterday. Market is expected to follow the fashion of volatile trading on growing inflation and interest-rate concerns. Shares of Google rose 1.3% before the opening bell after one of the company''s founders met with U.S. lawmakers to press for legislation that would prevent Internet access providers from charging Web sites more for faster content delivery.
Elena
07 Jun, 2006
New York City
Oil prices pulled back Wednesday, reflecting Iran
Ivaylo
07 Jun, 2006
New York City
Japanese and mainland Chinese stocks suffered the heaviest losses. The Nikkei dipped 1.88%, its lowest finish in more than six months. In Hong Kong, the Hang Seng index ended 0.98% down. Elsewhere in the region, South Korea''s Kospi Index shed 2.67%, the Taiwan Weighted Index declined 1.75% and Singapore''s Straits Times Index lost 1.42%. Australia''s S&P/ASX 200 eased 0.21%.
Ivaylo
07 Jun, 2006
New York City
Interest rate worries kept hurting sentiment and led by a sharp decline in Eurozone bourses on Tuesday, a clear shift towards safer sectors was obvious with food producers, tobacco, utilities and beverages sectors advancing slightly while telecoms, engineers and miners fell. London FTSE 100 shed 0.4% in early trade while the Xetra Dax lost 0.2% and the French CAC 40 declined 0.3%.
Ivaylo
07 Jun, 2006
Metals
The market is finally taking cue from the Fed governors, coming to terms with the inevitable hiking of the interest rates. It now seems that a second rate hike is in the offing come June 10th. That sent the dollar higher against other currencies. On the other hand, the softer stance taken by Iran on its nuclear program helped push the precious metal even lower.
