Elena
06 Jan, 2006
New York City
Major Asian-Pacific benchmarks rallied for a fifth consecutive session, boosted by tech shares with South Korean Kospi hitting an all-time high of 1.2% to 1,412.79. The Nikkei gained 16,428.21, the highest level since September 2000. European stocks traded in a tight range at mid-day, led by the CAC 40, up 0.4%. In corporate news, Microsoft was downgraded by Credit Suisse First Boston to neutral from outperform. IBM announced freezing of its pension plan in 2008.
Elena
05 Jan, 2006
New York City
Semiconductors gained for the third session in a row, boosting the Nasdaq up 0.5%, while the broader market was flat on Boeing downgrade and December retail sales. Target Corp., Costco Wholesale, Nordstrom and Federated Department Stores posted strong sales, but Wal-Mart disappointed. The Labor Department reported a five-year low of initial jobless claims by 35,000 to 291,000. The non-manufacturing index rose to 59.8 in Dec from 58.5 in Nov, above a forecast for a rise to 59.0.
Elena
05 Jan, 2006
New York City
Stocks started Thursday session flat as retailers'' reports on December sales showed respectable holiday season but a few big names, including Wal-Mart, disappointed traders. Among the leading gainers were Target Corp., Costco Wholesale, American Eagle Outfitters with luxury retailers like Nordstrom and Federated Department Stores making the best performance. Wal-Mart fell short of expectations, posting only a 2.2% same-store sales growth.
Elena
05 Jan, 2006
New York City
Asian-Pacific benchmarks continued to rally on tech and exporter issues, led by Taiwan''s Weighted index, up 1.4% and Singapore Straits Times, up 0.99%. The Nikkei advanced 0.4% to 16,425.37. European averages traded in a tight range with the French CAC 40 and London''s FTSE 100 lifted by strong oil stocks. The Labor Department reported that initial jobless claims dropped by 35,000 to 291,000, the smallest number since Sept. 23, 2000.
123jump.com Staff
04 Jan, 2006
New York City
Market averages, even though closed and traded higher during the day, lacked direction. Market looked for direction from the report on factory orders and auto retail sales for the December month. Factory orders rose 2.5% but the domestic automakers lost market share during the month and for the year 2005. Crude oil rose but natural gas tested four-month low.
Elena
04 Jan, 2006
New York City
Stocks opened flat on lower oil and signals that the Fed Reserve will stop raising interest rates, but later advanced on a brokerage upgrades of Google and ExxonMobil with the Nasdaq rising over 0.9%. In economic news, November factory orders rose 2.5%, following a downwardly revised increase of 1.7% in October, slightly above estimates of a 2.2% increase.
Elena
04 Jan, 2006
New York City
Stocks opened at the flat line, following the strong rally Tuesday which resulted from the latest FOMC meeting and the indications that the Fed Reserve will stop raising interest rate. Google was upgraded at Bear Stearns to outperform from peer on confidence in the Internet search company''s long-term fundamentals. Copper hit a fresh peak, supported by a strike in Chile with March delivery at $2.11.
Elena
04 Jan, 2006
New York City
Asian-Pacific benchmarks closed sharply higher on export and tech shares with the Nikkei reaching a new five-year high of 1.6% to 16,361.54. Jakarta Composite surged to 2.3%, followed by Hong Kong''s Hang Seng and Shanghai Composite, each up 1.7%. European stocks were also strong at mid-day on lower oil and speculations rate-hike cycle is close to an end. Chemicals company Monsanto swung to 22 cents profit in Q1 from a loss of 15 cents a share a year ago, beating estimates of 19 cents.
123jump.com Staff
03 Jan, 2006
New York City
Less than robust construction spending and weaker than expected read on manufacturing put pressure on the averages in the early trading. Market reversed its direction and climbed more than 1% on Dow and close to 2% on Nasdaq near close. General Motors dropped to a new low. Oil jumped 3% on speculative buying. Gold jumped $13 per ounce. Affiliated Computer is reported to be in a deal to go private at $8 billion.
Elena
03 Jan, 2006
New York City
Stocks erased early gains to turn mixed at mid-day on disappointing economic data and oil prices above $63 a barrel. The ISM manufacturing index fell to 54.2 in Dec, less than the 57.5 reading expected by economists and off from a reading of 58.1 in Nov. The Commerce Department reported that construction spending rose 0.2% in Nov, far less than 0.7% gain expected. Bonds moved higher, with the yield on the 10-year Treasury note falling to 4.37% from 4.40%.
Elena
03 Jan, 2006
New York City
Piper Jaffray and J.P.Morgan showed improved views of Google and Dow component Johnson & Johnson. Treasury yields rose with the 10-year yield up to 4.413%, moving above its range of the past couple days. The ISM''s manufacturing index fell to 54.2 in Dec, less than the 57.5 reading expected by economists and off from a reading of 58.1 in Nov. The Commerce Department reported that construction spending rose 0.2% in Nov, far less than 0.7% gain expected.
Elena
02 Jan, 2001
New York City
World stock markets finished a generally up year, ending on a down note the last trading session of 2005. The Dow Jones closed the year in the negative, down by 0.61%, while S&P 500 rose 3%, and the Nasdaq closed up 1.37%. Markets in Europe and Asia generally ended the year with gains of 15% or more. The Asian standouts were South Korea, up 54%, Japan rising 40.2%, and India higher by 42.3%. The leading European gainers were Russia, up 101.4%, Norway, up 52%, and Germany up 27%.
Elena
02 Jan, 2006
New York City
Russia cut natural-gas shipments to Ukraine by a quarter after Kiev refused to pay $230 per 1,000 cubic metres which is four times as much compared with the current price of $50. The sharp conflict led to reduced deliveries to other customers in Europe as Russia provides 25% of European gas with the bulk of those shipments flowing through Ukraine. Since the crisis broke out, in the last two days, natural gas price in London trading has jumped 17%.
123jump.com Staff
30 Dec, 2005
New York City
For the year large-cap stocks showed little conviction to move higher as reflected in meager gains in S&P and loss in Dow. In the year stock traders paid attention to the rising prices of copper, gold and other precious metals. Advances in crude oil and natural gas also put market on the edge as investors feared the return of inflation. The 38% of the 40% gain in Nikkei was registered in the second half of the year.
Elena
30 Dec, 2005
New York City
U.S. stocks slipped on the last trading day of 2005. With no S&P 500 companies scheduled to report earnings and no major economic reports due out on Friday, volume was very light. The Dow industrial average threatened to close the year down for the first time since 2002 as investors sold off some of the best performers of 2005, including Apple Computer Inc. For the year, Apple rose 129% on the Nasdaq, while Hewlett-Packard advanced 36% on the Nymex.
