Stock Markets

US stocks drop, gold reaches record

US stocks drop, gold reaches record  New York, Nov 9 US stocks fell slightly and gold rallied to a record high Monday amid more concerns over Europe's debt situation.

Investors looked nervously towards a pending European Union review of Ireland's fiscal situation. Some have speculated that Ireland and Portugal could soon request a government debt bail-out from the EU.

The price of gold rose above $1,400 per ounce for the first time in New York trading, as a weak economy and government deficits have driven investors back into metals.


US stock surge follows global rally after central bank moves

US stock surge follows global rally after central bank movesNew York, Nov 5 - US stocks surged Thursday, following the lead of global markets as investors digested a series of central bank moves to boost sagging economies.

The US and European monetary authorities took opposite approaches to their economies in the last two days, with the Federal Reserve opting for a $600-billion buy-up of long-term government debt, while the European Central Bank ruling out any monetary intervention.

Yet stocks in the US, Europe and Asia rose sharply Thursday, with Wall Street investors also reacting to Fed Chairman Ben Bernanke's defence of the US approach in a Washington Post editorial.


US stocks rally ahead of elections

US stocks rally ahead of electionsNew York, Nov 3 - US stocks rallied Tuesday ahead of election results that will likely see Republicans take over at least one chamber of Congress.

The US central bank's board will likely begin a new round of monetary measures to stimulate the economy Wednesday, when it is expected to begin a programme to buy as much as $500 billion in government debt over the coming months to force down interest rates and help push investors back into the private sector.

The broad-based Standard & Poor's 500 Index has surged 14 percent since Federal Reserve chairman Ben Bernanke indicated in August that he was considering pumping more cash into the economy.


US stocks mixed amid drop in jobless claims, more Fed speculation

US stocks mixed amid drop in jobless claims, more Fed speculationNew York, Oct 29 - US stocks posted mixed results Thursday as new weekly claims for jobless benefits fell and the Federal Reserve took more steps toward another monetary policy intervention next week.

Weekly jobless claims fell to their lowest level in three months. Bloomberg News reported that the US central bank has asked investors and bond dealers for input on the size of government debt purchases it plans to announce next week to help spur the economy.


US stocks fall slightly

US stocks fall slightlyNew York, Oct 28 - Major US stock indices fell slightly Wednesday amid reports that the Federal Reserve was planning a gradual monetary intervention to prop up the world's largest economy.

The Wall Street Journal reported that the central bank will announce after its rate-setting meeting next week a plan to buy a few hundreds of billions of dollars in US Treasury debt over the coming months.

The move would mark a more cautious approach than what was taken at the height of the financial crisis in late 2008, when the central bank bought nearly $2 trillion in government bonds and mortgage-related assets.


US stocks, consumer confidence edge higher

US stocks, consumer confidence edge higherNew York, Oct 27 - Major US stock indices inched higher Tuesday, mirroring a slight rise in the confidence of US consumers.

The New York-based Conference Board's index of confidence climbed to 50.2 in October from 48.6 in September. The index remains near record lows as unemployment remains high and the economy struggles to pull out of a prolonged slump.

Once-struggling carmaker Ford Motor Co. announced record third-quarter earnings of $1.69 billion. Stocks were held in check by disappointing earnings reports from other leading companies including US Steel and household goods maker Kimberly-Clark Corp.


US stock indexes mixed in daily trading

US stock indexes mixed in daily trading  New York, Oct 23 : US benchmark indexes were mixed in daily trading Friday, but all three indexes capped their third straight week of gains.

Strong earnings reports through the week, accentuated by better than expected performances by passenger airlines, pushed investor interest, Bloomberg financial news agency reported.

The blue-chip Dow Jones Industrial Average shed 14.01 points Friday, or 0.13 percent, to 11,132.56. The broader Standard and Poor's 500 Index gained 2.82 points, or 0.24 percent, to 1,183.08.

The technology-heavy Nasdaq Composite Index climbed 19.72 points, or 0.8 percent, to 2,479.39.


Financial stocks lead US market upswing

Financial stocks lead US market upswingWashington, Oct 19 - Financial shares boosted the major US market indices Monday, leading the S&P 500 to a five-month high.

Citigroup, which is 12 percent owned by US taxpayers, rallied 5.4 percent after its earnings topped estimates.

The blue-chip Dow Jones gained 80.91 points, or 0.73 percent, to close at 11,143.69. The Standard and Poor's 500 Index added 8.52 points, or 0.72 percent, to 1,184.71. The high-tech NASDAQ index climbed 11.89 points, or 0.48 percent, to 2,480.66.

The US currency rose against the euro to 71.77 from 71.57 euro cents Friday. It fell against the Japanese currency to 81.21 from 81.45 yen. (dpa)


Mixed results on US stock market

Mixed results on US stock marketNew York, Oct 7 - Major US stock indices were mixed Wednesday on the eve of the quarterly earnings season.

Aluminium firm Alcoa Inc is due to report its third-quarter earnings Thursday, the first of the 30 components in the blue-chip Dow Jones Industrial Average to deliver results. Wall Street analysts widely expect improvements in earnings for both the third quarter and the newly started fourth quarter of 2010.


US stocks weighed down by financials, euro concerns

Stock marketNew York, Sep 28 : Major US stock indices fell Monday on the back of a poor showing for financial firms and fresh concerns over Europe's most indebted governments.

Bank of America led the drop in US banks with a nearly 3 percent selloff. Investors were spooked as yields spreads rose to record highs for Ireland and Portugal.

The blue-chip Dow Jones Industrial Average fell 48.22 points, or 0.44 percent, to 10,812.04. The broader Standard and Poor's 500 Index was down 6.51 points, or 0.57 percent, to 1,142.16. The technology-heavy Nasdaq Composite Index dropped 11.45 points, or 0.48 percent, to 2,369.77.


US stocks climb on home sales, American Express results

US stocks climb on home sales, American Express resultsNew York, April 24 - US stocks rose Friday across the board, buoyed by resurgent home sales, a strong American Express report and a rebounding Honeywell.

The US Census Bureau reported a 27-percent jump in new home sales in March compared to February, the largest jump since 1963, fuelled by optimism of economic recovery and a soon-to-expire $8,000 tax credit for first-time home buyers.

American Express stocks advanced 2.7 percent, after it said its first-quarter net income doubled from 2009 and its card holders had the lowest March credit card delinquency of the six biggest credit card companies.


US stocks rise after late rally

US stocks rise after late rallyNew York, Feb 6 - A significant rally in the last hour of trading pulled US stocks back to positive territory Friday, but major indices still experienced their fourth straight weekly decline.

The Dow Jones Industrial Average ended up 10.05, or 0.10 percent, to 10,012.23, after falling nearly 170 points during the session. The Dow fell 0.55 percent over the week, its fourth consecutive week of losses, Xinhua reported.

The Standard & Poor's 500 index added 3.07, or 0.29 percent, to 1,066.18 and the Nasdaq rose 15.69, or 0.74 percent to 2,141.12.


US stocks fall over Obama's bank crackdown

US stocks fall over Obama's bank crackdownNew York, Jan 23 - Major US stock indices plummeted Friday, marking the worst three-day stretch since March as President Barack Obama pushed for a major crackdown on the risky behaviours of Wall Street.

Financial firms led the stock declines for the second straight day after Obama proposed Thursday to curb the size of banks and stop them from engaging in proprietary trading that doesn't benefit

clients.


US stocks posts biggest one-day loss of 2010

New York, Jan 16 - US stocks Friday ended the week by posting the largest one-day drop of 2010, fuelled by lower-then-expected quarterly revenue from banking giant JP Morgan Chase.

JP Morgan, the first major financial firm to release fourth-quarter earnings, reported that net income quadrupled to $3.3 billion as Wall Street recovers from a devastating financial crisis, but revenue was below expectations at $25.2 billion.

The financial giant also reported that some of its commercial banking divisions lost money, while the bank continues to hold bad loans on its books that could eventually hurt the bottom line.


Intel reports record revenue and earnings in 3Q

Intel reports record revenue and earnings in 3Q

Intel Corp., the world’s largest chipmaker on Tuesday reported record revenue and earnings for the third quarter, saying that its profit during the quarter rose 12%, beating the estimates of the analysts.

In a statement, Paul Otellini, the CEO of the chip giant, said: “Intel delivered the best third-quarter revenue in its history,” and added: “We were solidly profitable.”


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