Elena
03 Oct, 2005
New York City
According to a report, released by the Commerce Dept. construction spending in August rose 0.4% from 0.3% in July close to expectations of 0.5% increase. The ISM said that purchasing managers index rose to 59.4 in September from 53.6 in August, reflecting the 28th consecutive month of growth in sector. Economists had expected the index to fall to 52.0 due to the hurricane.
Elena
03 Oct, 2005
New York City
Asian-Pacific markets closed mostly down on lower-than-expected tankan survey in Japan with the Nikkei down 0.4%, despite solid gains in exporter issues. European stocks traded in the green at mid-day on merger and acquisition activity. Auto sales and manufacturing index data are expected. NRG Energy has agreed to acquire Texas Genco for $5.8 billion. NTL is to acquire Telewest Global for $6 billion.
123jump.com Staff
30 Sep, 2005
New York City
Third quarter was the energy quarter. Natural gas rose 80%, crude oil gained 13% and gasoline jumped 44%. Majority of Gulf of Mexico oil and gas production remains closed with no clear visibility for the restart. Gold gained 6% and for the first time in a decade crossed $475 per ounce. Nasdaq, S&P and Dow up 4.6%, 3.1% and 2.9% for the quarter. Hurricane Katrina and Rita turned this quarter into energy quarter with many stocks gaining more than 25% in this period.
Elena
30 Sep, 2005
New York City
Semiconductor stocks posted solid gains in morning trading, sending the sector up 2%. Micron Technology, semiconductor products manufacturer, posted Q4 earnings drop of 7 cents a share vs. 14 cents a year ago, beating expectations of a loss of 8 cents per share. The stock is currently up 7.5%.
Elena
30 Sep, 2005
New York City
A government report showed that consumer spending dropped a larger-than-expected 0.5% in August, the biggest fall since November 2001, vs. expectations of a 0.2% drop. According to the report of the University of Michigan the consumer spending index is down 76.9 from 89.1 in August. Crude-oil slipped 33 cents to $66.46 a barrel on the Nymex, gasoline was down 5 cents to $2.0893 a gallon. Gold sector gains on prices over $475 per ounce.
Elena
30 Sep, 2005
New York City
Asian-Pacific markets closed mostly down after the Nikkei reached a intraday new four-year high but later fell down 0.3%, followed by Seoul's Kospi, down 0.8%. European stocks gained ground at mid-day, led by the German and French markets. A government report showed that consumer spending dropped a larger-than-expected 0.5% in August, the biggest fall since November 2001. The report also showed a surprise decline in income.
123jump.com Staff
29 Sep, 2005
New York City
Government weekly report on natural gas lighted fire in the energy markets. Eighty percent of natural gas production in Gulf of Mexico remains closed. Half of the refineries in the Gulf region are expected to start soon. Tech stocks charged market rally as eBay, Yahoo, Dell, Texas Inst. registered better than 2% gains. Pepsi Q3 earnings decline but stock rises.
Elena
29 Sep, 2005
New York City
PepsiCo reported Q3 earnings of 78 cents a share on revenue of $18.8 billion, beating expectations. Research In Motion declined 7% on disappointing earnings report. E-Trade Financial Corp. announced it will buy BrownCo from JPMorgan Chase & Co. for $1.6 billion in cash.
Elena
29 Sep, 2005
New York City
PepsiCo reported Q3 earnings of 78 cents a share on revenue of $18.8 billion, beating expectations. Research In Motion declined 7% on disappointing earnings report. The initial jobless claims in the latest week fell by 79,000 to 356,000, 60,000 of which were related to Hurricane Katrina. The Commerce Department said that Q2 GDP figures remained unchanged at 3.3% growth.
Elena
29 Sep, 2005
New York City
PepsiCo reported Q3 earnings of 78 cents a share on revenue of $18.8 billion, beating expectations. Research In Motion declined 7% on disappointing earnings report. The initial jobless claims in the latest week fell by 79,000 to 356,000, 60,000 of which were related to Hurricane Katrina. The Commerce Department said that Q2 GDP figures remained unchanged at 3.3% growth.
123jump.com Staff
28 Sep, 2005
New York City
In the morning market rose on strong durable goods order report but quickly lost ground when the weekly petroleum report was released. Market never recovered in the session. Mining, energy, financials and casino stocks rose while home builders, restaurant and transportation stocks declined in a day of moderate trading volume. RIMM reports Q2 earnings of 56 cents vs 36 cents a year ago.
Elena
28 Sep, 2005
New York City
Oil prices have started a new surge. Light sweet crude November delivery rose $1.43 to $66.50 a barrel. Heating oil advanced by 8.6 cents to $2.1555 a gallon, while gasoline rose over 6 centss to $2.235. Housing sector is among the biggest decliners, falling by 1.3%.
Elena
28 Sep, 2005
New York City
The Commerce Department released a better-than-expected report on durable goods orders in the month of August. The report showed that durable goods orders rose by 3.3% in August following a downwardly revised 5.3% decrease in July. Economists had been expecting orders to increase by 1% compared to the 4.9% drop originally reported for July.
Elena
28 Sep, 2005
New York City
Asian-Pacific markets finished mixed with Seoul's Kospi at a new high of 1.6% on positive earnings expectations and the Nikkei rising 1% on automakers. European markets trade higher on Fed Reserve report and Daimler Chrysler. Data on durable goods orders and crude inventories awaited. The Commerce Dept. released August durable goods orders increase of 3.3% vs. expectations of 0.9% growth.
123jump.com Staff
27 Sep, 2005
New York City
Declining consumer confidence and home sales, elevated energy cost and volatile bond yields kept investors on the edge. Heavy volume of two billion shares on NYSE. Stocks of home buidlers and energy companies saw above average volume as volatile bond yields and crude oil prices kept investors gusessing. Lennar, Pepsi Bottling Group and Jabil Circuit delivered better than expected earnings. August home sales declined 9.9%.
