Stock Markets

US stocks continue rally on strong manufacturing data

US stocks continue rally on strong manufacturing dataNew York, July 1 : US stocks rose Thursday with major indexes gained for the fourth consecutive day, as improvement in Greece and upbeat manufacturing data reignited hopes for a sustainable recovery, Xinhua reported.

The strength on Wall Street came as traders continued to keep an eye on Greece, which is taking further steps towards receiving additional financial assistance.

After voting in favor of a crucial package of austerity measures Wednesday, the Greek parliament has voted to pass a second bill enabling the rapid implementation of the plan.


US stocks gain for third day

US stocks gain for third dayNew York, June 30 : US stocks extended gains for the third straight day Wednesday after the Greek parliament passed a five-year austerity plan, paving the way for a new round of bailout fund from the European Union and the International Monetary Fund, Xinhua reported.

Wednesday's vote in the Greek parliament was the first step for the final passage of the austerity plan and will be followed by another round of voting Thursday.

As confidence is restored in the market, investors shifted more money out of safe-haven bonds and into other, higher- yielding assets such as stocks and commodities, which is believed to drive stocks higher in recent three sessions.


US stocks up for second day on Greece hope

US stocks up for second day on Greece hopeNew York, June 29 : US stocks extended gains for the second straight day Tuesday as investors expected the Greek parliament would pass the austerity plan, paving way for a second round of bailout.

Greek lawmakers were still in a heated debate before a final vote on a five-year austerity plan. The controversial measure is critical for Greece to receive financial aid from the International Monetary Fund and European Union.

Tuesday's economic data was mixed, but the rally in the market was continuing in very light volume.


Greek default would roil financial markets: US official

Greek default would roil financial markets: US officialWashington, June 23 : Federal Reserve Chairman Ben Bernanke said Wednesday that a Greek sovereign debt default would "roil" financial markets and that the US is closely following the situation in the debt-ridden European country.

Direct exposure by US banks to bad debts in Greece is small, the Fed chief said in a press conference, although he added that a "disorderly default" would still have "quite significant" adverse effects on the US and the rest of the world.


US stocks mixed as economic concerns weigh on market

US stocks mixed as economic concerns weigh on marketNew York, June 9 : US stocks traded mixed Wednesday as worries about the economic recovery weighed on the market, Xinhua reported.

Concerns over the global economy have grown due to a round of disappointing economic indicators around the world, particularly out of the US, which culminated in last week's much weaker than expected US jobs data.

Sell-offs continued after Federal Reserve chairman Ben Bernanke gave a relatively gloomy outlook for the economy.


US stocks sink on weak jobs, manufacturing report

US stocks sink on weak jobs, manufacturing reportNew York, June 2 : US stocks sank Wednesday after four straight gains, as the latest data on jobs and manufacturing markets provided fresh evidence of a weaker economic recovery, Xinhua reported.

Automatic Data Processing Inc., a payrolls processor said before the opening bell that US private employers added a scant 38,000 jobs in May, far below expectations and also the lowest level since September 2010.

Adding to pressures, the expansion in the manufacturing sector slowed more than expected to its lowest level in more than one and half years, according to the Institute for Supply Management (ISM).


Wall Street ends May lower, snapping five-month winning streak

Wall Street ends May lower, snapping five-month winning streakNew York, June 1 : Wall Street ended the last session of May on a strong note, but major indexes still suffered monthly losses to end a five-month wining streak, as more signs showed US economic recovery was losing steam, Xinhua reported.

The blue-chip Dow Jones industrial average fell 1.9 percent for the month, while the broader Standard & Poor's 500 and the tech-heavy Nasdaq dropped 1.4 percent and 1.3 percent respectively.


LinkedIn listed on the New York Stock Exchange

LinkedIn listed on the New York Stock ExchangeNew York, May 20 : Professional networking website LinkedIn listed an initial public offering (IPO) on the New York Stock Exchange, and surged over $90 dollars a share shortly after the opening bell Thursday, Xinhua reported.

The company priced per share at $45. During the morning trading, the company's stock was traded at $83 per share and quickly jumped over $90 per share.

At $90 a share, LinkedIn was valued at about $8.5 billion, making the eight-year-old company one of the largest technology IPOs since Google in 2004.

The company has planned to raise around $350 million, aiming at improving its professional networking service.


Wall Street rises on Dell earnings, commodity rally

ll earWall Street rises on Dell earnings, commodity rallynings, commodity rallyNew York, May 19 : US stocks gained strength Wednesday as traders were encouraged by Dell's strong earnings and a recovery in commodity prices.

Market sentiment was bolstered after Dell reported stronger- than-expected earnings late Tuesday. With its profit nearly tripled in the latest quarter, the computer maker reassured investors about its full-year outlook, giving the market some relief after Hewlett Packard cut its full-year outlook on weak consumer demand.


US stocks drop on economy worries

US stocks drop on economy worriesNew York, May 17 : US stocks fell Monday, with the tech-heavy Nasdaq leading the decliners, as weaker-than-expected economic data made investors worry about the strength of the US economy, Xinhua reported.

Before the opening bell, the Federal Reserve Bank of New York reported that manufacturing in the New York region slowed down in May as the cost of raw materials soared.

The Empire State index fell to 11.88, well below the economists' estimates of 20. In April the index hit the record high of 21.70.


CEOs favour merger of Toronto, London bourses

Toronto, April 4 - Amid the continuing uncertainty over the proposed merger of the Toronto Stock Exchange with the London Stock Exchange, a majority of CEOs here say they support the merger.

The Toronto Stock Exchange, the third largest in North America, and the London Stock Exchange announced February 9 to merge to create a new global mega-bourse.

The 150-year-old Toronto Stock Exchange is the biggest resource (energy and mining) leader, with about 1,500 companies listed on it.

The current market value of the London Stock Exchange (LSE) is about $3.87 billion whereas the TMX Group is pegged at $2.99 billion.

With their merger, the two bourses will form a nearly $7-billion giant entity with offices in Toronto and London.


US stocks slide on slippery oil prices, high-tech let-down

US stocks slide on slippery oil prices, high-tech let-downNew York, March 8 - US stock prices dropped across the board Monday as increasing violence in Libya sent oil prices soaring and high-tech chipmakers received a gloomy forecast.

The trend continued Monday's falling markets in Europe and Asia.

Oil rose to a 29-month high amidst attacks on rebels by Libyan leader Muammar Gaddafi's security forces. Airstrikes targeted the oil-rich city of Ras Lanuf along the northern coast. Climbing oil prices could erode the fragile US economic recovery, analysts say.

Chipmaker stocks dropped after Wells Fargo & Co downgraded the outlook for the industry, Bloomberg financial news service reported.


US stocks plummet as oil price jumps

US stocks plummet as oil price jumpsNew York, March 2 - Wall Street stocks fell sharply Tuesday as the price of oil surged again in the face of ongoing unrest in Libya and more anti-government protests in other parts of the Middle East.

Crude oil in New York trading jumped 2.7 percent to $99.63 per barrel, a more than two-year high, as Libyan opposition forces clashed with government troops loyal to defiant leader Muammer Gaddafi.


End-of-week rally for US stocks

End-of-week rally for US stocksNew York, Feb 26 - US stocks rallied Friday, curbing some of the losses earlier this week from surging oil prices provoked by the ongoing unrest in Libya.

Friday's gains on Wall Street were spearheaded by another unexpected rise in US consumer confidence, the backbone of the world's largest economy.

A gauge of confidence from the University of Michigan and Thomson Reuters rose to its highest level in three years. A separate measure from the New York-based Conference Board also climbed to a three-year high earlier this week.


Wall Street plunges amid concerns over Libya crisis

Wall Street plunges amid concerns over Libya crisisNew York, Feb 24 - US stocks dropped for a second straight day Wednesday as investors were concerned about Libya turmoil and the growing Middle East unrest, Xinhua reported.

Investors' concerns over the uncertainty surrounding the world's daily oil provision drove the oil price briefly to $100 a barrel for the first time since October 2008. With the oil price surging at a rapid pace, stocks were inevitably under severe pressure.

Energy stocks, however, became the strongest performers among Dow components Wednesday. Chevron gained 1.95 percent to $102.27. Exxon Mobil was up 1.63 percent to $87.7.


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