Stock Markets

Wall Street surges on European deal

Wall Street surges on European dealNew York, Oct 28 - Wall Street surged Thursday, with the blue-chip Dow back above 12,000, after European leaders agreed on a deal to tackle the region's debt crisis and US third-quarter GDP growth accelerated, Xinhua reported.

Investors breathed a sigh of relief after European leaders agreed early Thursday, after 10 hours of negotiations, that private creditors have to accept a 50 percent cut in the value of the Greek government debt they hold, and the bailout fund would be increased to 1 trillion euros ($1.37 trillion).

Wall Street rises on European news

New York, Oct 27 - Wall Street rose Wednesday as news from Europe showed more positive signs about a resolution for sovereign debt crisis at the European leaders' summit in Brussels, Xinhua reported.

According to sources, the euro zone was talking about expanding the EFSF (European Financial Stability Facility) bailout fund to one trillion euros.

Encouragingly, German lawmakers voted 503 to 89 with four abstentions in favour of leveraging the European bailout fund to make it more effective, adding to the chance for EU leaders to seal a deal during the meeting.

US stocks slide over European summit doubts

US stocks slide over European summit doubtsNew York, Oct 21 - The US stocks traded lower Thursday as investors doubted what European leaders can achieve at Sunday's summit, Xinhua reported.

The market has become over-sensitive to chatters and rumors out of Europe. Anything related to a possible solution to the European debt problems can move the market.

Stocks got a blow Monday as the German finance minister said governments will not yield a definitive solution to the region's debt crisis.

US consumer prices rose in September

US consumer prices rose in SeptemberWashington, Oct 20 : US consumer prices rose 0.3 percent last month, bringing the 12-month inflation rate to 3.9 percent, the Labour Department said Wednesday.

The core Consumer Price Index, which excludes more volatile food and energy prices, climbed only 0.1 percent in September, while year-on-year core inflation was 2 percent.

Wholesale prices increased 0.8 percent in September and by 6.9 percent over the preceding 12 months, according to official data released Tuesday.

Numbers pointing to possible growth in inflationary pressure could limit the Federal Reserve's scope for further measures to stimulate the still-sluggish US economy.

Despite record profits, Apple disappoints Wall Street

Despite record profits, Apple disappoints Wall StreetWashington, Oct 19 - Despite setting new sales and profit records over the last three months and blowing past the $100 billion mark Apple's revenue and earnings on the last quarter fell far short of Wall Street's forecasts.

With an all-time record sale of Macs and iPads, Apple said Tuesday its net income for the quarter rose to $6.6 billion, or $7.05 per share, up 54 percent from a year earlier, but lower than $7.39 per share forecast by analysts.

US stocks jump amid mixed earnings

US stocks jump amid mixed earningsNew York, Oct 19 - US stocks ended sharply higher Tuesday, led by financials, as investors digested a batch of mixed corporate earnings, Xinhua reported.

The Dow Jones industrial average gained 180.05 points, or 1.58 percent, to 11,577.05. The Standard & Poor's 500 surged 24.52 points, or 2.04 percent, to 1,225.38. The Nasdaq Composite Index rose 42.51 points or 1.63 percent, to

Financial shares continued to catch eyes, with big banks among the best performers in the market even though some of them posted lackluster results.


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