Ivaylo
18 Aug, 2001
New York City
Asian markets were mixed Friday as exporters, such as Sony Corp, gained strength from U.S. advances and airlines jumped on an overnight slip in crude-oil prices, while profit-taking drew other shares lower after strong gains earlier in the week. The gains were on U.S. markets, advancing for a fourth consecutive day after economic data suggested slowing inflation and boosted confidence about the health of the economy of the largest export market of Asia.
Ivaylo
18 Aug, 2006
Frankfurt
Inflationary concerns were back as the latest manufacturing data from the Philadelphia Federal Reserve were unexpectedly strong. That influenced an already thin by volume August trade. The FTSE 100 in London was backed by defense stocks and tobacco shares but other markets slumped. The U.K. FTSE 100 index added 0.2%, while the German DAX Xetra 30 index lost 0.1% and the French CAC-40 index fell 0.1%.
Ivaylo
18 Aug, 2006
Metals
Gold closed under the $630 level on Thursday, tracking the fall of oil prices, reflecting the relatively calmed international relations, easing the precious metal significance as the last resort to traders. Some analysts are of the opinion, though, that gold is building a base now for new heights that would hit the market later in the year. Silver, platinum, palladium and copper followed suit and also fell.
123jump.com Staff
17 Aug, 2006
New York City
The luxury retailer Nordstrom reported second quarter earnings of 67 cents per share beating the estimate of 65 cents. The company revised the full year earnings guidance to $2.30 and $2.39 per share and third quarter earnings to 40 and 45 cents range. The company also received one time settlement payment from Visa/MasterCard for $5.8 million. The stock fell $1.00 in the after hours trading on earnings report.
123jump.com Staff
17 Aug, 2006
New York City
Dell reported 46% fall in earings in the second quarter as it battled sever price discounting in the U.S. and market share struggle in the Asia Pacific region. The comapany also reported operating earnings margin of 4.3% of revenue in the quarter. The company managed to eke out mere 1% rise in sales in the U.S. and hold on to its market share leadereship with 34.2%. The company managed to gain sales in the Western Europe in a declining market.
123jump.com Staff
17 Aug, 2006
Metals
For the third day in a row market averages spent the entire trading day in the positive range. The 2.5% drop in oil price and similar drops in gasoline and gas price kept broader averages rising. Internet, banks, construction and home builders eked out small gains. Energy related stocks fell. Gold fell close to $14. Merck lost two separate trials related to Vioxx.
Elena
17 Aug, 2006
Frankfurt
European markets ended in the positive after a lackluster trading session with no major data reports and little corporate news. Still, sharply lower oil prices provided support for the market. Among advancing stocks, truck maker Volvo rose 5%, automaker Renault gained 2.8%, while Van der Moolen added 2.1%. The German DAX 30 gained 0.4%, the French CAC 40 edged up 0.2%, and London FTSE 1200 inched up 0.1%.
Elena
17 Aug, 2006
New York City
Stronger-than-expected earnings from Hewlett-Packard and a sharp decline by the oil price helped stocks rebound from earlier weakness on profit taking. Hewlett-Packard shares rose more than 5% to $36.26, reaching a five-year high. Broadline retailer Sears Holdings said its Q2 earnings surged 83% to $1.88 a share from 98 cents last year, due to lower expenses and an increase in gross margin. Despite the upbeat results, shares of the company declined 3.4%.
Elena
17 Aug, 2006
Mumbai
The Sensex Index recorded seven straight days of gains, advancing more than 6% in that period. Strong trading in blue-chip stocks helped the market finish higher. The trading was highly volatile and the market-breadth was negative due to strong buying in small-cap and mid-cap stocks. Auto, engineering, and telecom sectors led the advancers, while aluminum, banking, energy and steel stocks dropped the most.
Elena
17 Aug, 2006
New York City
The Department of Labor reported that jobless claims in the week ended August 12 fell more than expected. Initial jobless claims fell to 312,000 from the previous week''''s revised figure of 322,000. Economists had expected a decline to 315,000 from the 319,000 originally reported for the previous week.
Elena
17 Aug, 2006
New York City
Stock futures pointed to a flat opening following three consecutive sessions of gains. Tech stocks are expected to rise after Hewlett-Packard reported Q2 profit jump to $1.38 billion, or 48 cents a share, compared with $73 million, or 3 cents a share a year ago due to strong sales in its printing and personal-computer businesses. Revenue rose 5.2% to $21.89 billion. The company also authorized a buyback of up to $6 billion worth of company stock.
Ivaylo
17 Aug, 2006
Frankfurt
Techs continued their strong run to three days as investors regained their desire for riskier, higher growth assets.That together with mining stocks and the tame consumer prices helped Europe to a good start. By mid-morning, London
Ivaylo
17 Aug, 2006
New York City
Asian companies that rely on U.S. sales gained on expectations that a slowdown in the increase of core consumer prices suggested an improving American economy and stronger consumer spending. Oil-related shares fell, while airline stocks, auto shares and the steel sector advanced. Japan and HK fell but the Nikkei and Hang Seng were both running into correction pressure after their recent strong run.
Ivaylo
17 Aug, 2006
Metals
The market is reacting well to the slightly weaker U.S. dollar. The reaction of the market seems to back the attitude of the Fed of a slightly slowing economy that is going to keep inflation relatively in check and reduce the need for further rate hikes. That has put a little pressure on the dollar.
123jump.com Staff
16 Aug, 2006
New York City
For the second day investors found a reason to cheer. CPI for the month of July rose 0.4% and core rate rose at 0.2%, lower than expected. After a mild rise in PPI and CPI, averages gained for the second day in a row. European markets gained a fraction but Mexico and Brazil rose near 1%. Gold gained, oil fell. Abercrombie and Big Lots gained 10%. HP reported earnings of 48 cents after the close. stock rose 7% in the after-market trading. The board authorized $6 billion stock repurchase plan.
