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Bonds Rise, Tech & Healthcare Fall
Sep 19, 2:58 PM ET |
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| Bond market trade near day's high as yield on 10-year note reaches 4.27%. Tech, financial and health care sectors decline in the morning trading. |
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| Crude-oil prices kept rising to reach trading levels over $66 a barrel, making a 5% jump. The oil surge is due to fears of another tropical storm threatening to hit the oil facilities in the Gulf Coast. Investors await Fed Reserve's decision on interest rate tomorrow, expecting a rise of 3.75%. Semiconductor sector is down 1.5%. German election analysis. |
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Oil Marches Ahead
Sep 19, 11:16 AM ET |
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| Oil, gas, gold, copper and silver all surge, as dollar gains against the euro. |
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| Yesterday's German election fails to elect a clear leader. The German DAX 30 dropped 1.3% at mid-day on uncertainty of economic reforms. Days of chaos ahead. Nike posted 1Q 32% earnings rise of $1.61 per share due to strong sales, beating expectations of $1.42. Spinnaker Exploration has agreed to be acquired by Norsk Hydro for $65.50 per share in cash. German election analysis. |
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Surging Oil Drags on Market
Sep 19, 9:59 AM ET |
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| Oil prices climbed $1.20 to $64.20 a barrel. Gold rose to a 17-year high of $461.95 per ounce. The dollar advanced. |
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| Asian-Pacific markets closed mostly higher with Shanghai's Composite up 0.6% and India's BSE 30 up 0.5%. The Japanese and Hong Kong's exchanges were closed for holidays. The German DAX 30 tumbled 1.3% on post general election uncertainty over economic reforms. Nike posted better-than-expected quarterly results with earnings of $1.61 a share, beating expectations of $1.42. |
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Fed Can Do Little to Stem Budget Deficit
Sep 19, 1:29 AM ET |
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| Aftermath of Hurricane and high energy prices are prompting growing list of economists to say that Fed may pause this time. Remains to be seen. |
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| Fed may or may not pause, but when it comes to spending, Congress and White House show no restraint. War on terror, rebuilding of Gulf of Mexico states, tax breaks for few and growing pension liabilities due to airline bankruptcy, and higher energy import bill are all adding to the woes to the budget deficit and the U.S. dollar.
German election analysis. Euro to rise this morning, after indecisive German election. |
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Heavy Volume, Gains in Tech, Finance, Energy
Sep 16, 4:53 PM ET |
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| Tech and financial sectors supported a narrow rally on a day of triple options expiration and S&P rebalancing. Oil dropped to $63 per barrel. |
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| What a busy day. Heavy volume on NASD and NYSE, oil dropped close to 3%, bond yield rose to 4.26%, Intel and ExxonMobil got upgrades and finacials and tech stocks led the rally on a day when options expire and S&P rebalances the index. Home builders fell, semis rose and energy stocks advance despite fall in oil price. |
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Techs Lead Narrow Rally
Sep 16, 12:41 AM ET |
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| Oil prices dropped 75 cents to $64 a barrel on lower fuel demand OPEC forecast. Gold reached a 17-month high. |
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| Blue-chip companies Exxon Mobil Corp. and Intel Corp. advanced on brokerage upgrades.The Commerce Department reported that current account deficit narrowed to $197.7 billion in 2Q from $198.7 billion in 1Q.The consumer confidence index fell to 76.9 in September from 89.1 in August. |
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Market Up, Gold Hits a New High
Sep 16, 10:02 AM ET |
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| Gold prices reached a 17-year high. Crude-oil prices dropped on lower demand OPEC forecast. |
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| Asian markets finished mostly down with the Nikkei losing 0.2% on tech stocks sell-off. European shares were trading higher at mid-day ahead of general election in Germany with the DAX 30 higher1.4%. No major earnings reports are expected today. Economic data on current-account deficit and consumer sentiment due later in the day. |
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New Shine on Gold
Sep 15, 4:50 PM ET |
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| Lackluster market could not shake-off inflation fears, even after latest report showed tame core inflation. Market focused on post Katrin inflation. |
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| Well, gold is back in favor, and for good reasons. Federal deficit is likely to be higher, when one add up the cost of Gulf of Mexico rebuild, Iraq costs, airline bankruptcies driving pension obligations and ever rising oil prices. Twin deficits of trade and budget are here to stay and market is finally realizing that, even though averages do not reflect that yet. Bear Stearns earnings failed to impress market and Pier One stock rose 9% on earnings. |
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Market Still Searching For Direction
Sep 15, 1:02 PM ET |
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| Oil prices eased below $65 a barrel on forecast of lower fuel demand. Metals-mining indexes on a nine-month high, pushed up by rising gold. |
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| Government's report said that CPI climbed by 0.5% in August, in line with expectations. Core CPI rose 0.1% vs. expectations of 0.2%. The Labor Department said that the initial jobless claims rose to 398,000. The Federal Reserve Bank of Philadelphia revealed that its diffusion index of current manufacturing activity dropped to 2.2 for September compared to a reading of 17.5 for August. |
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Time Warner in Talks to Sell AOL to Microsoft
Sep 15, 11:49 AM ET |
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| Crude-oil prices surged to $65.38 a barrel. Gold prices on the rise. Time Warner is reported to be in talks to sell AOL to Microsoft. |
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| Asian-Pacific markets closed mixed with the Nikkei up 1.2% on improved household confidence, while Taiwan's stocks lost 1.1% on raised interest rates. European shares were generally higher at mid-day on oil and mining stocks. Government's report said that CPI climbed by 0.5% in August, in line with expectations. Core CPI rose 0.1% vs. expectations of 0.2%. The Labor Department said that the initial jobless claims rose to 398,000. |
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