Ivaylo
12 Jan, 2007
New York City
Gold and silver futures ended little changed on Thursday, retreating from early gains after a sharp afternoon fall in oil prices. The precious metals declined when oil plunged and the dollar rebounded. Gold and silver appear to be caught in trading ranges not far above the psychological $600 and $12 areas, respectively. Copper futures finished lower, but made an important technical move higher earlier in the day.
123jump.com Staff
11 Jan, 2007
New York City
Oil price continued to slide as investors bailed out of energy futures, dipping oil price another 4% with a total loss of 15% for the year. Market averages rallied for the first time this year hoping that consumer speding will remain robust. Department of Labor reported average unemployment for the year 2006 at 4.6%, lowest in six years. Google traded above $500 during the day. Energy stocks lost ground but airlines and financial services stocks gained. European markets closed higher.
Elena
11 Jan, 2007
New York City
European stocks closed notably higher on Thursday as the European Central Bank kept interest rates unchanged, prompting rate increases are not expected in the following couple of months. A strong opening for U.S. stock markets also provided support. The German DAX 30 climbed 1.8%, the French CAC 40 surged 2%, while London FTSE 100 gained only 1.1% due to a surprising key interest rate increase to 5.25% by the Bank of England.
Elena
11 Jan, 2007
New York City
U.S. stocks rallied on Thursday, helped by tech shares which boosted the Nasdaq 1% and oil company shares that rebounded after investors turned to bargain hunting. Genentech''s positive earnings news lifted optimism about corporate profit, sending the stock up 3.7%. Shares of oil majors Exxon Mobil and Chevron gained more than 2% each.
Elena
11 Jan, 2007
New York City
Infosys Q3 results were the catalyst of the market recovery, together with aggressive buying in other technology stocks in late afternoon trading, which helped the index to settle with a gain of more than 2%. Ten sector indices closed in positive territory. Reliance Communications led the gainers, Wipro also surged and HDFC Bank recovered from initial losses. Reliance Industries finished higher while the only two large-caps of the Sensex stocks that declined were HDFC and Grasim.
Elena
11 Jan, 2007
New York City
Despite stock futures indications, U.S. stocks opened in the positive Thursday, reflecting continuously falling oil prices and a surprising drop in jobless claims to a six-month low. Investors also looked past news that Cicso Systems is suing Apple Inc. over the iPhone trademark. Shares of the computer maker and media player fell 1.3% in early trading. In earnings news, Genentech reported 75% profit jump in Q4 on strong demand for its cancer-fighting drugs. The stock rose 2.9%.
Ivaylo
11 Jan, 2001
New York City
The central bank raised the base rates from 5% to 5.25% in a move that took the market by surprise. Real estate and housebuilders were worst hit by the sell-off. Investors took profits from the retail sector sending shares of Sainsbury south. However, the downslide in the retail sector was offset by strength in the mining sector, with BHP Billiton a leading advancer. The FTSE 100 shed 16.2 points at 6,144.5 in early afternoon trade.
Elena
11 Jan, 2007
New York City
U.S. stock futures traded slightly lower Thursday after a surprising rate hike by the Bank of England. The technology sector was in the spotlight after Cisco Systems filed a lawsuit against Apple Computer Inc. to resolve a trademark dispute over its new iPhone device. Genentech reported 75% profit jump in Q4 on strong demand for its cancer-fighting drugs. The company reported it earned 55 cents per share, higher than 31 cents per share last year, boosted by 38% increase in revenue.
Elena
11 Jan, 2007
New York City
Cisco accuses Apple of violating a trademark which it has owned since 2000, as a result of buying InfoGear. Since December, Cisco''s wireless division, Linksys, has been shipping a family of cordless and wireless phones under the iPhone brand. However, Apple defends its rights, saying that it is entitled to use the name iPhone because the products are materially different.
Ivaylo
11 Jan, 2007
New York City
Japanese index ended lower on Thursday as advances in Tokyo Electron and other technology stocks were unable to counter broader weakness in large-caps in view of the growing worries that the Bank of Japan will raise interest rates no later than next week. Resource shares traded mostly higher on other Asian markets, with investors retuning to the mining sector following a surge in metals prices. Australia gained, but HK and Taiwan declined.
Ivaylo
11 Jan, 2007
New York City
European markets opened on a positive note on Thursday, supported by advances in the mining sector and as shares in German retailer Metro rose aided by a sales update from the group. Technology shares were also doing well in Europe, with mobile phone maker Nokia and chipmaker Infineon Technologies both gaining. U.K. supermarket chain J. Sainsbury was down, however. The U.K. FTSE 100 advanced 0.5%, the German DAX Xetra 30 index gained 0.6% and the French CAC-40 index rose 0.6%.
Ivaylo
11 Jan, 2007
New York City
Investors were of the opinion that the contract move above the $2.59 level triggered new buying in copper after heavy losses since the start of the new year. Gold and silver futures were pressured by a strong U.S. dollar and weak crude oil, yet managed to pare their losses. April platinum went as high as $1,163.90 in electronic activity, its strongest level since Dec. 5. Light, sweet crude for February delivery hit a low of $53.63, the lowest level for a front month contract since June 2005.
123jump.com Staff
04 Jan, 2008
New York City
U.S. stocks fell sharply after weaker than expected employment report for the month of December. Economy created only 18,000 new jobs in the month and for the year generated 1.3 million new jobs, far less than the 2 million target set by the current U.S. administration. Intel lost nearly 10% after UBS cut its rating on the company. Crude oil and gold retreated after the jobs report. Retailers, technology, and consumer sensitive stocks fell sharply. Apple, RIM, Master Card, and Google declined.
123jump.com Staff
10 Jan, 2007
New York City
A familiar weakness in oil dragged crude price another 3% today totaling a loss of 9% for the year. Weekly crude oil inventory data reported a fall in crude oil inventory by 5 million barrels. November month trade deficit declined 1% on lower oil price in the month. Las Vegas Sands rose 11% or $10.40 on the permission for expansion near Macau. Apple, Marvell Tech and New Oriental Education closed up 5%. New York Stock Exchange led group to invest 5% in National Stock Exchange in India.
Elena
10 Jan, 2007
New York City
European stocks ended Wednesday trading session considerably lower, pressured by weakness in the tech and telecom sectors, as well as losses for leading auto companies. Nokia shares dropped 2.2% after Apple introduced its iPhone. Automaker Porsche slipped 0.5%, while Volkswagen shares declined 1.6%. The German DAX 30 slipped 0.7%, the French CAC 40 fell 0.6%, and London FTSE 100 dropped 0.6%.
