123jump.com Staff
24 Aug, 2006
New York City
Market averages gained on the report of durable goods orders and jobless claims. Three popular averages rose on the hope that the Fed may not raise interest rates at the next meeting. Rite Aid is in a deal to buy Eckerd drug store chain for $2.55 billion. Chicos dropped 21% on earnings. Toro dropped 4% on earnings. Benihana traded up 5%. European exchanges are up between 0.6% and 1.2% up.
123jump.com Staff
24 Aug, 2006
New York City
Futures market indicate higher opening on the back of durable goods order and jobless claims report. July durable goods orders fell 2.4% but the orders excluding transportation gaied 0.5%. Jobless claims for the last week fell 1,000 to 313,000. Rite Aid is in a deal to acquire Eckerd drug store chain for for $1.45 billion in cash and 250 million shares totaling $2.55 billion purchase price.
Ivaylo
24 Aug, 2006
New York City
Japanese shares fell for a second straight session as unimpressive U.S. housing sales and inventories data made investors sell Japanese equities. Large-cap exporters in the auto and tech sectors led the decliners on revived fears of a slowdown in U.S. consumer demand. In Hong Kong, shares dropped on concerns about slowing global growth and disappointing results from some large-cap companies. All other markets fell, with only China bucking the trend.
Ivaylo
24 Aug, 2006
Frankfurt
German Ifo business sentiment declined for a second month in August, but the data were not as bad as expected. Meanwhile, second-quarter GDP growth was confirmed at 0.9%, up from 0.7% in the first quarter. These figures reverberated across European markets and sent Frankfurt Xetra Dax up 0.5%. In Paris, the CAC 40 added 0.3% and only in London the FTSE 100 was flat.
Ivaylo
24 Aug, 2006
Metals
Despite the fact that traders have gotten their new home sales data, showing marked levels of weakness, they are focusing on the U.S. dollar next possible move and thus the gold market seems to be extremely cautious in taking on fresh long positions at this juncture. For the the time being, the confirmation of a cooling economy has not proven to be the catalyst for a gold rally.
123jump.com Staff
23 Aug, 2006
New York City
Market managed to trade higher in the early trading but quickly lost its drive after the release of existing home sales report. Home sales in July dropped 11% from a year ago and 4.1% from June. Weekly petroleum inventory report reported a fall in crude oil by 0.6 million and a rise of 0.4 million in gasoline inventory. IBM agreed to buy Internet Security company for $1.3 billion.
123jump.com Staff
23 Aug, 2006
Frankfurt
markets across the region fell in the last hour of trading after the release of July existing home sales report. The report indicated that sales have declied 11% from a year ago and are 4.1% lower than in June. Oil rose on the unexpected rise in gasoline inventory in the U.S. Tech stocks fell the most on the earings warnings from Natioal Semiconductor. TNT group sold it US logistics business for 1.5 bilion euros. Nestle reported 11% rise in sales and earnings. Telecom stocks closed lower.
123jump.com Staff
23 Aug, 2006
New York City
Market averages decline at mid-day after the housing and weekly petroleum report. The market averages are down 0.4%. July housing sales declined 11% from a year ago and 4.1% from June. Weekly petroleum reported a decline in crude oil inventory decline of 0.6 million less than expected decline of 1 million barrels. Oil prices declined. IBM agreed to buy for $1.3 billion Internet Security Systems.
123jump.com Staff
23 Aug, 2006
Mumbai
Market closed lower on a volatile note in light trading. Sensex trading was domintaed by loss in autos, banking and tech stocks. Mutual funds and international investors have steadily scaled their exposure to stocks in the last sixty days of trading. Government reported that India-China trade is grwoing at a rate of 37% and is likely to pass $20 billion in trade in the year 2008. Tata Tea has acquired 30% stake in the US based Energy Brands for $677 million.
123jump.com Staff
23 Aug, 2006
New York City
Market averages turned negative after the release of July existing home sales report. The sales declined 4.1% to a seasonally adjusted rate of 6.33 million frmo June revised data adn 11% lower from a year ago. Home builder stocks declined on the report. Market averages turned from a rise of 0.3% before the report to 0.4% decline.
123jump.com Staff
23 Aug, 2006
New York City
Market averages after opening on a weak note gained a mild momentum in the early trading. Three poplular averages are showing 0.3% rise. Semiconductor stocks are up led by a rise in National Semi and Advanced Micro. Industrial stocks such as Caterpillar and Deere are leading the advancers. Legg Mason and Apple Computer are up in the first 30 min of trading.
123jump.com Staff
23 Aug, 2006
New York City
Market averages are expected to open lower. Traders are focusing on oil price, semiconductor stocks and report on housing sales and oil inventories. July existing home sales are expected to show another decline in housing market. Weekly Petroleum Inventory report is expected to show a decline of at least 1 million barrels of crude oil. BHP Billiton reports 58% rise in Profit.
Ivaylo
23 Aug, 2006
New York City
Asian stocks were lower Wednesday, while Japanese technology company such as Canon Inc. advanced on anticipation of an earnings revision. South Korea and Taiwan led the decliners, while Tokyo benchmark index dipped as investors are gearing up for key earnings releases. Hong Kong also fell. Australian index was the only one to buck the downtrend.
Ivaylo
23 Aug, 2006
Frankfurt
As interest rate worries resurfaced and oil prices held at around $73 a barrel, Europe was further held back by metals and defense stocks. A lack of surprises in the earnings report from metals company BHP Billiton and a spending plan at defense group EADS put mild pressure on U.K. and Paris bourses. By mid morning, London
Ivaylo
23 Aug, 2006
Metals
A technical kind of trading and a firmer dollar pulled gold lower on Tuesday. Profit-taking weighed down on high-grade copper futures, although the market was able to rebound from its weakest levels as a strike continues against Escondida mine. Silver was also down, as well as platinum and palladium.
