Elena
29 Jun, 2006
New York City
Stock averages rallied more than 1% Thursday morning, reflecting stronger-than-expected GDP figures. The Commerce Department raised Q1 GDP growth to a 5.6% annual rate but cut the GDP''s inflation component to 3.1%. Traders were also focused on the Federal Reserve''s decision on interest rates later in the session. Heavy equipment maker Caterpillar, diversified manufacturer 3M Co., along with energy shares led advancers.
Elena
29 Jun, 2006
Mumbai
The Sensex had risen nearly 200 points at one point in afternoon trade, on the back of firm Asian markets but in the last hour of trading lost most of the gain of the day. Metal shares and banks stocks retreated from earlier highs, while auto and construction stocks remained firm. Jet Air files case before Supreme Court to recover $100 million in escrow money for a deal with Air Sahara.
Elena
29 Jun, 2006
New York City
U.S. stock markets gained at opening on stronger-than-expected Q1 economic growth, which boosted optimism about corporate profits. The Fed Reserve is in the spotlight, expected to lift its benchmark federal funds rate by a quarter percentage point to 5.25%. In earnings news, Monsanto reported Q3 net income soared to $1.21 a share from 17 cents a year ago, beating estimates. Worthington Industries, metal processing company, reported that its fiscal Q4 profit grew 46%, well above expectations.
Elena
29 Jun, 2006
New York City
Stock futures indicated a higher opening ahead of a key Federal Reserve decision on interest rates, expected to result in a quarter-point rate hike to 5.25%. In other economic news, the Commerce Department reported that gross domestic product zoomed ahead at a 5.6%, while the Labor Department said that initial jobless claims increased by a seasonally adjusted 4,000 to 313,000 for the week ending June 24.
Elena
29 Jun, 2006
New York City
The Commodity Futures Trading Commission said that BP traders, having the consent of senior management,
Ivaylo
29 Jun, 2006
New York City
Asian stocks gained Thursday tracking U.S. gains, as weaker-than-expected Japanese industrial production figures failed to impact market sentiment negatively and investors continued to stay on the sidelines ahead of an expected rate hike by the U.S. Federal Reserve. The Fed is expected to raise rates by 0.25%, to 5.25% on Thursday, but there is some speculation that the central bank will lift the benchmark rate half a point.
Ivaylo
29 Jun, 2006
New York City
European markets staged a broad-based rally Thursday, with oil and financial blue-chips up front as investors disregarded concerns over inflation ahead of the US Federal Reserve
Ivaylo
29 Jun, 2006
Metals
Anticipating Thursday, traders pointed out that it could be a very charged session with important Fed
123jump.com Staff
28 Jun, 2006
New York City
Market averages staged a late rally as Fed decision held investors back. Investors appear reluctant to take a stand ahead of the rate hike decision. Yield on the 10-year bond has already moved close to 5.25%. Gold lost ground as dollar firmed up. Oil stocks advanced on rising oil prices. Merger news in Europe supported a mild rise in indexes however, markets in Asia lost ground.
123jump.com Staff
28 Jun, 2001
New York City
Market averages are trading near unchanged level. The Senate Finance Committee approved the nomination of Henry Paulson for Treasury Secretary. The full senate vote is expected soon. Wells Fargo traded higher on stock buy back and dividend hike. Apple Computer fell another 3% on an analyst comment that new version of iPod may be delayed.
123jump.com Staff
28 Jun, 2006
Mumbai
Market averages traded with 2% volatility but closed slightly lower. Reliance indusries unveiled a massive retail chain project to benefit from the rising consumer spending. ITC, tobacco giant, disucssed plans to launch food processing and distribution center in the state of West Bengal. Food prices reach a new high major cities.
123jump.com Staff
28 Jun, 2006
New York City
Market averages around the world appear in a holding patter ahead of interest rate descision. In overnight trading Japan fell close to 2%. European share are trading lower at mid-day trading. Emerging markets India, Russia and Brazil traded weak. Gold fell. J Crew priced 19 million shares at $20, above the revised filing range of $15 and $17 per share.
Ivaylo
28 Jun, 2006
New York City
Asian markets ended lower across the board Wednesday, led by Tokyo''s Nikkei Average as Japanese technology and export-related issues such as Kyocera Corp. and Toyota Motor tracking with U.S. declines overnight. Interest-rate concerns keep pressuring investors'' minds, as the Federal Reserve is expected to hike the overnight rate on Thursday in what would be the U.S. central bank''s 17th increase since June 2004.
Ivaylo
28 Jun, 2006
Frankfurt
The US the main stock indicators plunged overnight as investors became concerned that the Fed may continue hiking interest rates to curb inflation. The auto sector had a strong negative influence on the markets as some automaker took losses. London
Ivaylo
28 Jun, 2006
Metals
August gold will likely trade within $580-$600 an ounce through Thursday then look for direction from currencies. The mood is still cautious ahead of the FOMC interest rate decision with some speculating a half-point rate increase instead of 0.25 percentage points that is widely expected. A steeper increase in the interest rate would slow down the dollar''s depreciation against European currencies and so diminish gold''s attractiveness as an investment tool.
