Elena
19 Jul, 2006
New York City
Stocks and bonds jumped steeply higher after Fed Reserve Chairman Ben Bernanke soothed investors'''' concerns on interest rates with news of moderating economy and contained inflation. The Dow Jones shot up more than 160 points. Treasury bonds reversed from earlier losses and moved higher.
Elena
19 Jul, 2006
New York City
Stock markets rallied in morning trading, following comments from Federal Reserve Chairman Ben Bernanke of moderating pace of economic growth and contained inflation. The Dow Jones industrial average shot up more than 100 points.
Elena
19 Jul, 2006
New York City
U.S. stocks advanced at opening on signs of cooling economy and strong earnings from IBM. The Labor Department said the CPI rose by just 0.2% in June, the smallest increase in four months, but core inflation, excluding energy and food, rose by 0.3%, higher than the 0.2% expected. Signs of slowing housing market were received from a report which said that construction of new homes fell by 5.3% in June. IBM rose 3% on strong quarterly earnings, while Yahoo dropped 19% on revenue outlook.
Elena
19 Jul, 2006
New York City
JPMorgan Chase & Co. rose 1.2% after the nation''s third largest bank reported sharply higher Q2 profit of 99 cents a share, compared with 28 cents a share last year on 19% revenue growth, beating estimates of earnings of 87 cents a share on revenue of $15.3 billion. Piper Jaffray Companies posted Q2 net income rise to 21 cents per share from 6 cents a year ago on increasing investment banking and interest revenue.
Elena
19 Jul, 2006
New York City
Following Tuesday
Elena
19 Jul, 2006
New York City
Asian markets finished mixed Wednesday as stock exchanges reversed from much of earlier gains amid renewed advance by the price of oil. The Nikkei ended up 0.4%, recovering from a month-long losing streak. Hong Kong
123jump.com Staff
18 Jul, 2006
New York City
Market averages reversed the trading course in the final thirty minutes of trading. Weak earnings growth at banks and lowered revenue growth guidance from Target Corp brought several consumer and retail stocks down. Home builders fell to a two-year low. IBM reported revenue fell 1.7% but profit rose 11% on cost trimming. Yahoo reported lower net on higher stock options expenses and net revenue rise of 28%.
123jump.com Staff
18 Jul, 2006
New York City
Oil declined, tepid rise in earnings and another round of sell-off in retail and home builder stocks. Regional banks have so far reported a mild rise in profit while large banks are reporting larger profit gains but at a slower pace then a year ago. Companies in the banks, pharmceuticals and industrial sector have not kept up with earnings rise of the previous years. Merrill Lynch profit rise of more than 40% is an exception so far.
Elena
18 Jul, 2006
New York City
In late morning trading U.S. stock markets erased earlier gains on climbig oil prices. United Technologies and Coca-Cola gained more than 1% each after reporting better-than-expected quarterly results and helped limit losses for Dow. The tech-heavy Nasdaq was dragged by weakness in the semiconductor sector, with Marvell falling down 5.2%. Retail stocks dropped after Target posted a 5.3% loss on lowered sales outlook.
Elena
18 Jul, 2006
Mumbai
Market traded in the usual volatile fashion but maintained the negative trading bias throughout the day. The Sensex index traded lower on the fall in metals, energy and consumer stocks. Earnings reports from several companies met market expectations. Oil rose in the Asian trading. International investors continue to sell in the last three days of sell-off.
Elena
18 Jul, 2006
New York City
Stocks showed a strong upward move at the start of trading as stronger-than-expected earnings from major companies offset worries about Mideast fighting, rising oil and growing inflation. United Technologies, industrial company, reported Q2 earnings rise to $1.1 billion or $1.09 a share, from $971 million, or 95 cents a share a year ago. The company boosted its 2006 earnings and revenue outlook.
Elena
18 Jul, 2006
New York City
The Coca-Cola Co. reported a 7% increase in Q2 profit on a modest rise in sales, beating expectations. The beverage maker said it earned $1.84 billion, or 78 cents a share, up from $1.72 billion, or 72 cents a share a year ago. Merrill Lynch posted 42% profit growth in Q2 as the company managed a strong performance in its proprietary stock trading. The company reported a profit of $1.63 per share, compared with $1.14 per share last year on 29% revenue increase.
Elena
18 Jul, 2006
New York City
Oil prices rebounded Tuesday, recovering from a steep decline yesterday as ongoing fighting in the Mideast added more tension to the already jittery market. U.S. inventory figures were also awaited with expectations of drops in gasoline supplies and a slight increase in crude levels.
Elena
18 Jul, 2006
New York City
Asian markets finished in the red as modest U.S. gains overnight and retreating oil failed to prevent the heavy sell-off. The ongoing violent conflict in the Middle East also weighed on sentiment. The Nikkei dropped for a fifth consecutive session, down 2.75%. South Korea''s Kospi tumbled 1.73%. China
123jump.com Staff
17 Jul, 2006
New York City
After falling for three days with a nearly 3% decline in popular averages last week, market managed to stabilize. Earnings brought a sharp focus to Citigroup, McDonalds, Commerce Bancorp, Eaton Corp. and Harley Davidson. The companies are reporting healthy gains in earnings on more than 5% to 10% rise in sales. Citigroup reported second-quarter earnings of $1.05 per share. Asian and European markets closed lower. Gold fell $16 and oil dropped $1.73 to $75.30 per barrel.
