U.S. Indexes Drop 14%
Jun 30, 4:44 PM EDT |
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| Markets around the world declined in the first half led by sharp fall in Shanghai, India and Japan. Indexes in US and UK dropped 14%. |
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| Markets around the world decline in the first half of this year on rising inflation and U.S. housing market led global credit market crisis. There appears to be no end to the weakness in the credit market and lenders in U.S tighten loan standards and issue fewer loans. Dow and S&P 500 indexes fell 14% and Nasdaq declined 13.6% in the first half. Indexes in Shanghai lost 48%, in India dropped 34% and in Japan fell 11%. UK index dropped 14% and indexes in Germany, France and Spain fell. |
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Volatile Oil Drives Stocks, MGIC Down 15%
Jun 30, 1:07 PM EDT |
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| U.S. stocks fell and rebounded on the volatile crude oil prices. Oil reached $143 a barrel in the intra-day but backed off from its morning high. |
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| U.S. stocks rebounded after crude oil futures fell from the intra-day record high of $143 a barrel. Corn futures fell 4%, the daily limit after the latest planting report from the USDA. The report showed 2% increase to 87.3 million acres of corn planting from its previous estimate in March. H&R Block rose after it reported profit in the latest quarter. MBIA and MGIC Investment led the decliners in the S&P 500 index. |
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Crude Oil at $143, Robbins Surge 12%
Jun 30, 10:33 AM EDT |
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| U.S. stocks fell as crude oil raced to $143 a barrel. Dollar fell in the European trading against the euro and Asian markets closed lower. |
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| U.S. stocks opened sharply lower after crude oil prices reached to a record high of $143 a barrel. Transportations and auto makers declined. AMR Corp, Delta, UAL and Southwest fell. In the overnight trading Asian markets fell, tracking the weakness in the U.S. markets. European markets traded lower with another fall in Swedish and Spanish stocks. Robbins & Meyer, industrial equipment maker surged 12% after it reported earnings gain of 50%. |
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U.S. Stocks Fall 20% in 9 Months
Jun 27, 6:53 PM EDT |
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| The Dow, S&P 500 and Nasdaq approach near 20% decline from their peaks in October last year. Dollar edges lower. |
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| U.S. stocks declined for the second day in a row as Dow Jones, S&P 500 and Nasdaq dropped to near 20% loss from its peak in October last year. The decline in stocks is likely to continue with rising inflation, falling home values, and tighter lending standards. Second quarter earnings at the U.S. corporation are liklely to decline more than the current estimate of loss of between 9% and 11%. Asian markets in the overnight trading fell sharply. |
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Stocks on the Defensive, Personal Income Rises
Jun 27, 10:29 AM EDT |
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| Personal income and expenditure increase in May on federal tax rebates. Private and government payroll payments increase. |
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| U.S. stocks traded in a tight range with no direction after losing 3% in the previous session. The U.S. decline set-off a worldwide sell-off with India and China losing nearly 5% and Brazil declining 3%. Higher losses and charges at banks, rising inflation and stagnating economies are dragging stocks in the U.S. and around the world. Lehman increased estimate of losses at Merrill Lynch. Crude oil traded above $140 a barrel. |
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Shanghai, India Plunge 4%
Jun 27, 4:10 AM EDT |
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| Stocks in Asia traded sharply lower with markets in India, Japan and Hong Kong droping more than 2%. |
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| Stocks in India and Shanghai lead a sharp decline in the region. Stocks in Asia fell after crude oil futures rose another $2 and crossed $141 a barrel. Market indexes in Hong Kong, Japan and Australia lost more than 2%. Sensex in India dropped as much as 4% at mid-day trading on rising crude oil prices and worries that ruling coalition may break after Congress Party leader decided to finalize the nuclear power deal with the U.S. Shanghai CSI 300 index dropped 5%. |
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Global Plunge: US, UK, Brazil Down 3%
Jun 26, 5:40 PM EDT |
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| Crude oil surged above $140 a barrel after comments from Libya suggested near term price may reach above $150 a barrel. |
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| The popular indexes Dow, Nasdaq and S&P 500 dropped as investors worried that assset write downs at banks and financial brokers may increase sharply. Goldman Sachs estimated Citigroup to write down $9 billion this quarter and Sanford Bernstein projected a quarterly loss for Merrill Lynch. Stocks in consumer and financial sectors closed sharply lower. UK, Brazil, Spain, Holland, Sweden fell near 3% and all markets in South America and Europe closed lower on the weakness in New York. |
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Dow, Nasdaq and S&P 500 Down 2%
Jun 26, 12:10 PM EDT |
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| U.S. stocks fall after worries related to consumer and financial stocks dragged indexes lower. GM, RiM, Citigroup and Merrill drop sharply |
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| U.S. stocks accelerate their decline after analysts revised their estimates of asset write downs and losses at banks and brokerages. Goldman estimates current quarter asset write down at Citigroup of $8.9 billion and Sanford Bernstein projects a loss of 93 cents per share compared to 82 cents a share profit a year ago. General Motors led the decliners in indexes after a sell recommendation from Goldman Sachs. |
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Citi, Merrill Estimates Cut; RiM, Nike Drop
Jun 26, 11:07 AM EDT |
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| Research in Motion and Nikel fell after reporting earnings. RiM revenue rose 52% and net income increased 54% in the first quarter. |
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| U.S. stocks fell sharply after Goldman Sachs esitmated second quarter asset write down at Citigroup of $8.9 billion, Sanford Bernstein estmated a loss compared to profit at Merrill Lynch. Citigroup fell 5% and Merrill dropped 3%. Separately the final read on the first quarter economic growth was revised higher to 1% from 0.9% and existing home sales in May rose 2% and average home prices fell 6.3% in the month. The U.S. dollar edges lower and crude oil and gold rises. |
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Fed Holds Rate, Oil Falls
Jun 25, 5:53 PM EDT |
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| The Fed left its key rate at 2%. Weekly report on the oil inventories showed a decline at the end of last week. Research in Motion Profit Doubles. |
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| The Fed left its key short term rate at 2% and cited that risks to inflation risk are rising on tighter credit conditions, rising fuel prices and falling home prices. MasterCard surged after agreed to pay $1 billion to American Express to settle its ongoing legal dispute. Research in Motion fell 7% after it reported earnings after the close. In European trading stocks rose after Barclays finalized $9 billion placement from key investors and ECB signaled a rate hike at the next meeting. |
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