Market Update

Sell-off Intensified in the Last Hour

123jump.com Staff
30 Nov, -0001
New York City

Oil, gold, and stocks fell during the session. Oil is trading up 20% from a year ago and consumer sentiment is rebounding on the declining prices of oil and heating fuel in the last one month. Shares of IBM are down 20% for the year. French voters rejected proposed EU constitution formed to keep it expanding from current 470 million people strong. The high unemployment rate of 10% convinced several of 70% eligible voters to vote No.

Market Lower on Lack of Buying

123jump.com Staff
30 Nov, -0001
New York City

Oil, gold, and stocks fell during the session. Oil is trading up 20% from a year ago and consumer sentiment is rebounding on the declining prices of oil and heating fuel in the last one month. Shares of IBM are down 20% for the year. French voters rejected proposed EU constitution formed to keep it expanding from current 470 million people strong. The high unemployment rate of 10% convinced several of 70% eligible voters to vote No.

Stocks, Oil, Gold Trade Lower

123jump.com Staff
30 Nov, -0001
New York City

French voters rejected proposed EU constitution formed to keep it expanding from current 470 million people strong. The high unemployment rate of 10% convinced several of 70% eligible voters to vote No. Discount carriers merger between U.S. Air and America West attracted $150 million to the already raised $1 billion in financing in the last three weeks. The restructuring of airlines industry is rapidly occurring which may lead to new price competition in the air travel.

Euro stable after French Vote 'Non'

123jump.com Staff
30 Nov, -0001
New York City

French voters rejected proposed EU constitution formed to keep it expanding from current 470 million people strong. The high unemployment rate of 10% convinced several of 70% eligible voters to vote for 'Non'. Discount carriers merger between U.S. Air and America West attracted $150 million to the already raised $1 billion in financing in the last three weeks. The restructuring of airlines industry is rapidly occurring which may lead to new price competition in the air travel.

Spike in Oil Fail to Drag Down Averages

123jump.com Staff
30 Nov, -0001
New York City

After a week of 4% gain in oil price, oil added 1.7% more today totaling for the week 5.7%. Gold is set to record its biggest monthly decline for the year and has fallen 3.7% from its peak of $434 on May 2nd. Gold is trading at $418. Euro is trading weaker ahead of French vote on EU constitution.

Lack on Interest, Lack of Trading

123jump.com Staff
30 Nov, -0001
New York City

After a week of 4% gain in oil price, oil added 1% more today totaling for the week 5%. Gold is set to record its biggest monthly decline for the year and has fallen 3.7% from its peak of $434 on May 2nd. Gold is trading at $418. Euro is trading weaker ahead of French vote on EU constitution.

Lackluster Trading

123jump.com Staff
30 Nov, -0001
New York City

Oil trades above $51 as three-day weekend bring driving season in full force. Overnight Asian markets closed higher with Seoul jumping near 2% and Tokyo up 1.49% on strength of tech stocks. Chico's reproted 36% jump in earnings.

GDP and Home Builders Drive Averages Higher

123jump.com Staff
30 Nov, -0001
New York City

Latest read on 1Q GDP of 3.5% put buyers in charge and market disregards small rise in initial unemployment claims for the last week. Costco and Heinz meet the earnings expectations but Dollar General, Fred's fall on disappointing earnings. Toll Brothers earnings doubled from a year ago.

Rally Broadens beyond Home Builders

123jump.com Staff
30 Nov, -0001
New York City

Latest read on 1Q GDP of 3.5% put buyers in charge and market disregards small rise in initial unemployment claims for the last week. Costco and Heinz meet the earnings expectations but Dollar General falls on disappointing earnings. Toll Brothers earnings doubled from a year ago.

Latest Read on GDP Positive

123jump.com Staff
30 Nov, -0001
New York City

Latest read on 1Q GDP growth of 3.5% from Commerce Department put traders at ease. The lower trade deficit in March and strong consumer spending kept the U.S. economy humming at higher rate than 3.1% as expected in March read. The economy appears to be resilient to oil shock for now.

Oil, Home Sales, and Lack of Earnings

123jump.com Staff
30 Nov, -0001
New York City

Unexpected fall in crude inventory last week drove oil passed $52 and put market on the defensive. The mixed report on consumer durables order, up 1.9%, and new home sales up 13% failed to cheer market. earnings releases from few companies including Medtronics, Blyth and Network Appliance did not help averages and investors mood.

Market on Defensive

123jump.com Staff
30 Nov, -0001
New York City

April durable orders released by Commerce Department today failed to restrain sellers in the market. The 1.9% rise would have been 0.2% decline without the rise in volatile transportation orders. Oil hovering around $50 did not give any margin of comfort to traders. Market remains on the defensive.

Oil, Home Sales, and Fed

123jump.com Staff
30 Nov, -0001
New York City

It was the day of oil and mergers. MidAmerican purchase of PacifiCorp for $4.5 B cash plus debt, and news on Dollar and gold drove investors on selective buying. OECD trims the developed economy foreacast, Vodafon in the UK narrows loss, Gruner+Jahr to sell the U.S. magazine group, and Microsoft and Google in race to enhance visual search experience.

Fed worries on Oil Price and Pace of Recovery

123jump.com Staff
30 Nov, -0001
New York City

News on oil, MidAmerican purchase of PacifiCorp for $4.5 B cash plus debt, and news on Dollar and gold drove investors on selective buying. OECD trims the developed economy foreacast, Vodafon in the UK narrows loss, Gruner+Jahr to sell the U.S. magazine group for $350 million to Meredith, and Microsoft and Google in race to enhance visual search experience.

Record Home Sales in April

123jump.com Staff
30 Nov, -0001
New York City

Lower rates, demographic needs, and market speculation all together drive record home sales in April. The median home price jumped 15.6%, record since 1980.