Dow Down, S&P and Nasdaq Gain
Dec 30, 6:05 PM EST |
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| Dow closed down 0.61%, S&P gained 3% and Nasdaq advanced 1.37% for the year. Oil jumped 38% and gold advanced 18% for the year. Nikkei gained 40%. |
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| For the year large-cap stocks showed little conviction to move higher as reflected in meager gains in S&P and loss in Dow. In the year stock traders paid attention to the rising prices of copper, gold and other precious metals. Advances in crude oil and natural gas also put market on the edge as investors feared the return of inflation. The 38% of the 40% gain in Nikkei was registered in the second half of the year. |
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Dow to End 2005 Down
Dec 30, 12:32 PM EST |
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| Citigroup is leading a consortium offering $3 billion for a stake in Chinese bank Guangdong. Google is reportedly sued by Rates Technology for $5 B. |
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| U.S. stocks slipped on the last trading day of 2005. With no S&P 500 companies scheduled to report earnings and no major economic reports due out on Friday, volume was very light. The Dow industrial average threatened to close the year down for the first time since 2002 as investors sold off some of the best performers of 2005, including Apple Computer Inc. For the year, Apple rose 129% on the Nasdaq, while Hewlett-Packard advanced 36% on the Nymex. |
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Fading Trading
Dec 30, 11:04 AM EST |
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| Citigroup is leading a consortium offering $3 billion for a stake in Chinese bank Guangdong. |
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| The last trading session of 2005 opened in the negative as investors gave up on the fading fourth-quarter rally and locked in gains made throughout the year. With very little news to drive buying, the Dow Jones industrial average is likely to close 2005 with a loss for the first time since 2002. The other two major averages are expected to finish with modest gains. |
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Citigroup Offers $3 B for Chinese Lender Stake
Dec 30, 9:20 AM EST |
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| Crude oil declined below $60 a barrel on profit taking. European gold advanced. The gollar lost vs. the yen, rose vs. the euro. |
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| Asian-Pacific benchmarks finished mixed to lower, led by the Nikkei, down 1.4% on profit-taking. For the whole year the Japanese index gained 40.24%. Another loser of the session was Hong Kong''s Hang Seng, down 1.12% with a total gain for the year of 4.5%. India''s BSE advanced 0.7%. European stocks were also weak with the German DAX 30 and the French CAC 40 the biggest losers, down 1.1% and 1.2% respectively. |
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Weak Existing Home Sales
Dec 29, 9:56 PM EST |
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| General Motors share drags DOW down to 0.02% gains for the year. Tech stocks traded weak for the day as oil jumped above $60 per barrel. |
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| With less than a day left hopes of market rally are fading very quickly. Oil jumped above $60 as weekly petroleum report suggested declining oil crude inventory. Jobless claims were unchanged for the previous week. Existing home sales for November month fell below 7 million units for the first time since the month of March 2005. For the year, GM shares have declined 50% draging with it Dow Jones Industrial Average yearly gain to mere 0.02%. |
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Jobless Claims Rise
Dec 29, 9:14 AM EST |
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| Oil prices declined ahead of petroleum report and amid speculation OPEC may cut output. European gold rose. The dollar steadied. |
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| Asian-Pacific benchmarks rallied Thursday with the Nikkei in the lead, rising 0.9% to a new multi-year high of 16,344.20 on expectations of strong corporate profit and economic growth. European markets slightly advanced at mid-day, suppported by miners and insurers with each average rising 0.3%. InterDigital Communications said that a federal judge confirmed an award against mobile phone making giant Nokia Corp. for between $232 million and $252 million. |
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Holiday Sales Drive Stock Market
Dec 28, 11:51 PM EST |
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| Stocks rose moderately, flattening of bond yields remained a concern among bond traders. Oil, gold and silver closed up but natural gas fell. |
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| Rising consumer sentiment and steady retail sales growth for holiday sales brough traders back to the market. Oil market was on the edge as Iran called for deeper cuts in OPEC production targets. Flat bond yield curve dominated trader-talk in the bond and stock marekts trading. General Motors stock dropped 2% totaling a loss of 50% for the year. Whole Foods stock is added to S&P 500 index. |
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OPEC to Cut Output
Dec 28, 1:09 PM EST |
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| The Mortgage Bankers Association's index of applications to buy a home or refinance an existing mortgage fell 6.8%, its lowest level since June 2002. |
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| Stocks rose in early trading hours as Consumer Confidence Index for December notably improved to 103.6 from 98.3 in November and Treasury yield curve flattened, following yesterday''''s inversion. However, early gains were offset by rising crude oil prices as Iran called OPEC to consider lowering its output by 1 million barrels a day at the meeting on Jan.31st. |
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Consumer Confidence Improves
Dec 28, 10:43 AM EST |
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| DaimlerChrysler AG agreed to sell its off-highway unit to Sweden-based private equity firm EQT for $1.9 billion. |
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| U.S. stocks opened higher ahead of data and as the Treasury yield curve flattened. The Conference Board said that Consumer Confidence Index rose to 103.6 in December from a downwardly revised 98.3 in November, below expectations of 105.0. In earnings news, CBRL Group posted higher same-store restaurant sales for December and projected Q2 earnings between 56 and 61 cents a share. Cal-Maine Foods reported a narrower Q2 loss of 3 cents a share on sales growth. |
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DaimlerChrysler Sells a Unit
Dec 28, 9:17 AM EST |
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| Oil prices declined to $57.81 a barrel on mild weather. European gold rose to a two-week high. The dollar sharply dropped vs. the euro. |
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| Asian-Pacific markets closed mixed with the Nikkei rising sharply to hit a five-year high of 1.4% at 16,194.61 on expectations exporter issues will gain on stronger dollar. European stocks traded mostly lower at mid-day, despite positive German consumer confidence data with he French CAC being the biggest loser, down 0.2%. The Conference Board is expected to report that the index of consumer confidence rose to 101.8 in December from 98.9 in November. |
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