Techs, Retailers Drag Markets Lower
Aug 29, 1:10 PM ET |
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| Technology stocks fell sharply lower after Dell missed its earnings target. Retail and consumer related stocks fell. |
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| The latest report on personal spending suggested a declining trend and a weak earnings from Dell dragged tech and retail stocks lower. Starbucks, Whole Foods, Darden Restaurants, Amazon, Target, Wal-Mart fell. Dell, Research in Motion, Intel, Apple and IBM fell as Nasdaq dropped more than 1.7%. Latin American markets closed lower across the region. European markets closed higher after Commerzbank may buy Dresdner Bank for 9 billion euros. |
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Weakening Personal Spending, Oil Up
Aug 29, 10:00 AM ET |
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| U.S. stocks drop after personal spending and income showed a weakening pattern in July. Crude oil rises. |
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| U.S. stocks fell in the morning after weaker than expected data on personal consumption and expenditure. Crude oil gained as tropical storm brewed in the Gulf of Mexico. A decline in earnings from Dell suggested a slower spending in the U.S. and earl signs of similar trends in Europe and Asia. Consumer spending in July rose 0.2% after rising at 0.6% in June according to the latest data from the Commerce Department. Personal income dropped 0.7% after rising 0.1% in June and 1.8% in May. |
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Stocks Rise on Q2 GDP Growth, Oil Up
Aug 28, 9:44 AM ET |
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| Faster than expected second quarter economic growth lifted stocks in the U.S. and Europe. Crude oil climbed. |
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| U.S. stocks rose in the morning trading after the release of second quarter economic growth and weekly unemployment data. In the quarter economic growth boosted at 3.3% annual rate on rising exports on lower dollar and stimulus package from the government. Weekly unemployment claims matched the forecast but were at elevated level. Sears contune to struggle in sales as reported in the latest quarter. |
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Durable Orders, Oil Drive Stocks Higher
Aug 27, 6:28 PM ET |
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| Rising energy prices lifted benchmark indexes in Brazil, Peru, Canada and UK. Durable goods orders lifted stocks in the U.S. |
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| Stocks in US, Canada, UK, Europe, Hong Kong and India rose. Better than expected durable goods orders drove stocks higher in the U.S., rising energy prices lifted stocks in UK and Canada. Peru and Brazil led gainers in the South America with the markets in the entire region closing higher. Stocks in Hong Kong and China rose on earnings from China Life, China Mobile, PetroChina and China Cosco. Mergers in IT industry lifted stocks in India. |
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Durable Orders Rise, China Mobile Earnings Soar
Aug 27, 6:11 PM ET |
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| Crude oil jumps as oil installations in the Gulf of Mexico area are threatened by the slow moving storm. |
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| Durable goods orders rose 1.3% in July matching the rise in June. The better than expected increase in orders lifted stocks in the morning trading. Tropical storm Gustav, after dropping rain in Haiti appears to heading towards Gulf of Mexico. In earnings news, China Mobile earnings rose sharply as it adds more than 20 million subscribers. PetroChina earnings fell on losses in its refining business. |
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Weak Home Sales, Metals; Dollar Rises
Aug 26, 5:30 PM ET |
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| Stocks in the U.S. trading look for a direction from energy and metals markets. Retailers and restaurant stocks fell. |
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| U.S. stocks edged higher as crude oil and natural gas futures rose and industrial metals fell but precious metals closed higher. New home sales in July fell compared to a year ago as tight lending conditions and falling confidence in the economy kept buyers away. The U.S. dollar rose against most major currencies. Stocks and ruble in Russia fell sharply as stand-off with NATO continues as Russia declared two regions independent from Georgia. German business and consumer confidence declines. |
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Retailers, Restaurants Decline; Dollar Rises
Aug 26, 1:34 PM ET |
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| The U.S. dollar rose as investors increasingly take a view that European economies are likely to weaken sooner than expected. |
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| U.S. stocks edge higher after dollar gained in the international trading and new home sales rose. The home sales rose 2.4% to 515,000 units but declined 35% from a year ago. The dollar rose against all major currencies as economies around the world are expected to falter. The dollar rose sharply against the British pound, euro and Australian dollar. Restaurant stocks fell after Darden reported lower than expected earnings. |
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Weak German Confidence, Russian Stocks Fall
Aug 26, 9:27 AM ET |
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| Mining and industrial stocks dropped as much as 7% in Russia after Russia's recognition of provinces may prolong standoff with NATO. |
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| European stock market indexes fell as German consumer and business confidence declined in August. The rising oil and food prices lowered the propensity to spend by consumers. Businesses battle rising wages, struggling exports and elevated euro in the international markets. Russian ruble dropped more than 1% and stocks dropped sharply after Russia recognized two breakaway provinces from Georgia. The oil and gas heavy RTS index dropped 5% and has now lost 25% in two months. |
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AIG Worries Spark a Broad Sell-off
Aug 25, 5:21 PM ET |
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| Fearful investors sell stocks in most sectors after estimate of asset write down at AIG cause a concern. |
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| Wide spread pessimism was evident in a broad decline in stocks and in the S&P 500 index 447 stocks declined. Existing home sales in July rose 3.1% from June but fell 13% from a year ago. The home sales rose but so did inventories of unsold homes and Median home prices fell 7% from a year ago. Freddie Mac led gainers in the S&P 500 index after it placed $2 billion in debt at significantly higher yield than similar maturities of the U.S. Treasuries. |
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Home Inventories Rise; Financials Struggle
Aug 25, 11:25 AM ET |
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| U.S. closed down ninth bank for the year as banks continue to face mounting losses from real estate loans. |
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| U.S. stocks fell in the morning trading as investors face more asset write downs in financial sector. AIG may write down $2.4 billion in mortgage related assets according to a latest estimate. Existing homes sales rose 3.1% in July from June but fell 13% from a year ago and median home prices declined 7%. Crude oil edged higher and European markets edged higher as markets near closure. Asian markets closed up with Hong Kong surging 3.5% and Japan adding 1.7%. |
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