Financial Market News Archives

Paulson holding talks with al-Assaf yesterday JEDDAH: US Treasury Secretary Henry Paulson said yesterday the dollar peg for currencies in the Gulf Arab countries had served the region well and any changes to ...

NEW YORK : The dollar fell slightly against major currencies Friday following a report showing growth in U.S. personal income slowed sharply, despite the mailing of billions in economic stimulus payments from ...

Wall Street opens the month of June with guarded optimism, as hopes mount that the worst of the economic storm is over and that the peak has passed for surging crude oil prices.

Japanese shares extended gains on Friday as oil prices dropped and a softer yen spurred the buying of export-linked stocks.

The benchmark Nikkei 225 index rose 214.07 points, or 1.5 percent, to 14,338.54. It gained more than three percent Thursday.

'Sentiment was buoyed by falling oil prices and consecutive increases on Wall Street,' said Kazuhiro Takahashi, general manager at Daiwa Securities SMBC Co. Ltd.

Light, sweet crude for July delivery fell below $126 a barrel in electronic trading Friday on the New York Mercantile Exchange. The contract is almost $10 below the all-time high of $135.09 hit last Thursday.

Next time you face sticker shock at the gas pump over a $4 gallon of gas, check out your pension fund's investments. They may explain much about the surge in oil prices.

Institutional investors such as pension funds, university endowments and sovereign wealth funds have ramped up investing in commodities as a hedge against inflation and to seek out higher returns versus stocks and bonds.

The strategy has worked _ if you gauge success solely by the rising returns that come from a market where oil prices have doubled in the last year to levels above $130 a barrel and other commodities are also sharply higher.

She was talking about the stock trading that will take place in the next few weeks in anticipation of the annual reconstitution of Russell Investment's indexes.

U.S. stocks on Friday ended the day, week and month mixed, but with a largely positive showing, as personal computer giant Dell Inc.

U.S. stocks made gains on Thursday, with the Nasdaq leading the way. The U.S. dollar ended the day sharply higher on a better-than-expected GDP reading for the first quarter.

Treasury prices rose for the first time in three sessions on Friday after a government report indicated that consumer spending and inflation remained in check last month.

The Toronto stock market was slightly lower late Thursday morning as energy stocks lost ground amid crude price volatility while financials supported the market even as quarterly reports showed much lower ...

THE sharemarket closed higher yesterday, with increased oil prices and a big gas deal involving Santos putting the energy sector in focus.

Wall Street stocks rose on Thursday as a swift drop in oil soothed inflation fears, while an upward revision in a broad measure of U.S. economic growth suggested a recession may be avoided.

Dress Barn 1Q Earnings Beat Analyst Estimates, Reaffirms Forecast; Joy Global Rises on Forecast for Higher Profit and Sales; United and US Airways CEOs in Merger Talks

Rates on 30-year mortgages jumped this week to the highest level since mid-March as investors began to worry about what the Federal Reserve will do to combat growing inflation pressures.

Forex dealers say that the currency lost ground after South Africa's first quarter growth rate was slower than expected.

Japanese shares jumped Thursday as sentiment turned upbeat on better-than-expected U.S. durable goods orders.

Shares performed strongly yesterday, gaining about 2.5 percent, as sentiment was buoyed by a regulator's comment that stock index futures were about ready to begin trade.

Treasury prices fell Wednesday as durable goods data gave investors, still worried about inflation's effect on long-term bonds, another reason to withdraw from government securities.

The Toronto stock market shed over 200 points Tuesday as bank stocks stepped back following quarterly reports from two of Canada's big banks and energy stocks retreated in the face of sliding oil prices.

The Australian share market closed more than 1% lower after weaker commodity prices, particularly oil and gold, offset a positive US lead.

The TSX fell more than 200 points in midday Tuesday trading as resource and financial stocks staged a retreat.

A sharp drop in oil prices could not lift Asian stock markets Wednesday, as continued concerns about the key U.S. export market dampened interest.

U.S. stocks gained, rebounding from the market's biggest weekly tumble since February, as companies dependent on consumer spending gained on a drop in oil prices and an unexpected increase in new home sales, ...

Treasury prices slid Tuesday as stocks moved higher and investors were unable to shake their inflation worries despite a drop in oil prices.

MUMBAI, India : Indian shares dipped Tuesday as banks and blue chip firms like Oil & Natural Gas Corp., or ONGC, dragged the market lower.

Wall Street advanced moderately Tuesday after the government reported the first gain in new home sales in six months, news that raised hopes for a recovery in the housing sector and that offset disappointing consumer confidence data.

The Commerce Department said sales of new homes rose 3.3 percent in April to a seasonally adjusted rate of 526,000 units. In March, sales had fallen 11 percent to their weakest pace since 1991. This pleasant surprise helped assuage investors after the Conference Board said its Consumer Confidence Index dropped for the fifth straight month. The index is now at its lowest level since October 1992.

The Toronto stock market moved higher Monday as oil stocks benefited from higher oil prices while financials were under pressure a day before the big banks start releasing their quarterly earnings.

Chinese stocks fell to a one-month low Monday as renewed worries over further monetary tightening and jitters over the decline on Wall Street at the end of last week outweighed gains in telecom equipment ...

European stock markets edged higher Monday after key Asian markets fell amid worries about high oil prices and the U.S. economy on a day when U.S. markets were closed for the Memorial Day holiday.

Key stock market indicators edged up in Germany and France but the main market gauges fell more than 2 percent in Japan and Hong Kong after the Chinese government announced an overhaul of its telecommunications sector.

Crude oil futures rose to a record above $135 a barrel last week and were trading above $133 a barrel in electronic trading on Monday after militants in Nigeria said they destroyed an oil pipeline and killed 11 soldiers. The government said none of its troops had died.

Chinese share prices slumped heavily on Monday on uncertainties in the consumer price index movement and impact of the May 12 earthquake, with heavyweights, including PetroChina, China Life and banking stocks, ...

THE Australian share market closed more than 1 per cent lower, dragged down by the major miners after a negative lead from Wall Street.

By Tiisetso Motsoeneng Johannesburg - South African stocks were slightly weaker on Monday morning in what looked to be the start of a quiet session as US and UK players are on holiday, with MTN in the spotlight ...

Mumbai, May 26: The Bombay Stock Exchange benchmark Sensex today lost 223 points in the early trade on funds selling in heavyweight stocks triggered by weak Asian markets.

Asian stocks fell more than 1 percent on Monday, with regional shares outside Japan hitting a 1-month low, as investors feared rising inflation and sluggish U.S. economic growth would seriously dent consumer ...

THE Australian share market is entering another period of turbulence as soaring oil prices and US worries put an end to the recent rally in stocks.

With any luck, the second half of this year will be better than the so-far rocky first half.

Q Given the current economy, is it better to invest in bonds or Treasury bills now, as they're less risky than stocks? - E.D., OPELIKA, ALA.

John Bogle, founder of the nation's second largest mutual fund company, dismisses many of the products hawked these days by financial companies as largely self-serving. His advice for investors seems to square ...

Higher oil prices translated to lower stock prices Friday. Investors are concerned the continual blooming of the price of crude oil will ignite inflation, dampening an already recessed economy.

Closing averages of the Dow Jones Industrial Average over the past three months.

Oil’s slip from record prices Thursday brought no relief to Wall Street, where Friday’s losses capped a weeklong 4 percent slide in the Dow Jones industrial average.Just as consumers reel at high ...

Government and private-sector housing finance experts asked this week that a temporary lifting of loan limits for government-supported mortgages be made permanent to help homeowners in high-cost states like ...

Energy stocks led the way to a lower session on the Toronto stock market Friday even as oil prices continued to head higher.

For the first time since the bubble burst earlier this decade, information technology stocks have overtaken financials as the largest sector by market value in the Standard & Poor's 500 index. But that alignment might not last for long _ soaring oil prices have helped lift the energy sector to a close third.

For the last 10 years, tech and financials have gone back and forth as the leading sector in the index. Tech grabbed about 32 percent of the S&P by early 2000, but quickly gave up that lead as the sector lost its luster amid the dot-com crash.

Mumbai, May 23: The Bombay Stock Exchange benchmark Sensex today fell 257 points on weak global cues, discouraging inflation numbers and high international crude oil price.

The euro rose against the dollar Friday as oil prices leveled out somewhat from record prices.

Pakistan stocks dropped the most this year after the central bank unexpectedly raised interest rates to tame inflation at a 25-year high.

Wall Street tilted toward a lower open Friday as investors awaited a report on existing home sales and adjusted their portfolios before the three-day holiday weekend.

With any luck, the second half of this year will be better than the so-far rocky first half.

US stocks rose modestly yesterday after two days of steep declines as energy prices pulled back from record highs and a proposed acquisition in the utilities sector buoyed optimism.

Oil smashed past $135 a barrel for the first time today, continuing its astonishing rise following unexpected drops in US crude and petrol stocks in a tight market.

Published: May 21st, 2008 01:50 PM Last Modified: May 21st, 2008 01:55 PM Treasury prices fell Wednesday after minutes from the Federal Reserve's last meeting and another spike in oil prices touched off renewed ...

Is the Internet boom back? No, but information technology companies have again overtaken the financial industry as the largest sector in the S&P 500 index, Standard & Poor's said Wednesday.

Posted online: Thursday , May 22, 2008 at 08:18:49 Updated: Thursday , May 22, 2008 at 09:47:18 Tokyo, May 22: Crude oil soared to a fresh record high above $135 per barrel on Thursday as a surprise drawdown in ...

The Federal Reserve on Wednesday slashed its economic growth forecast for 2008 and signaled that mounting concerns over inflation would make further interest rate cuts unlikely.

" A new report from the Canadian Council on Learning says the country's overall score on the Composite Learning Index has improved for the second straight year.

Technology Eeks By Financials for Top Spot by 0.1%; Energy Stocks Gain Promenance as Third Largest

Treasury prices climbed Tuesday as another record run in oil prices sent stock market investors fleeing to the safety of government debt.

After a couple of months of calm, nervousness returned to financial markets Tuesday.

It may have been obvious that Bulgaria was less peaceful than Iceland but more peaceful than Iraq.

LONDON : European shares staged their biggest one-day fall in two months on Tuesday, driven by declines in commodity stocks, while record-high oil and troubling U.S. inflation data weighed on the broader ...

Hong Kong's key index fell Tuesday on worries over the impact of high oil prices and as weakness in regional markets hurt sentiment.

U.S. stocks were sharply lower on Tuesday after a report fanned fears rising inflation will prompt the Federal Reserve to lift interest rates and as oil neared $130 a barrel.

The Australian dollar traded near its highest in 24 years on speculation minutes of the central bank's last meeting will signal policy makers expect to keep interest rates at a 12-year high. via Bloomberg Business News

The Bombay Stock Exchange benchmark Sensex on Tuesday moved down by over 151 points in early trade on heavy selling by funds in index-related stocks. via Hindustan Times

“The ongoing upward trend in crude prices - we tested a new all-time high on Friday - is going to ensure that the U.S. economy remains under pressure”

NEW YORK : The dollar moved higher Monday against the euro, pound and yen after a private business group reported a second-straight month of growth in its forecast of future economic activity. via International Herald Tribune

“That's the driver in here. With the subdued flows, it's hard to make a compelling story except for that.”

Treasury prices rebounded Monday, with investors returning to the safety of government securities after stocks gave up an early rally due to weakness in the technology sector. via Seattle Times

A private business group said Monday that its index of leading economic indicators edged higher in April, a sign the economy remains sluggish but could skirt a dramatic downturn.

The New York-based Conference Board said its forecast of future economic activity rose 0.1 percent in April, matching a 0.1 percent increase in March. Economists had expected a 0.1 decrease in April.

The index is designed to forecast economic activity in the next three to six months based on 10 economic components, including stock prices, building permits and initial claims for unemployment benefits. Read more

The stock market rose modestly Monday after Microsoft Corp. renewed talks with Yahoo Inc. but a new report showed the economy remains sluggish.

The Conference Board's leading economic indicators report showed a 0.1 percent rise for April, as expected. The index, aimed at predicting economic activity in the next three to six months, bolstered investors' belief that the overall U.S. economy, while weak, is not contracting rapidly.

Meanwhile, Microsoft Corp. has renewed talks with Yahoo Inc. about a possible deal to bolster the companies' position in the online search and advertising markets. The software maker did not say if the discussions included a takeover of Yahoo. Read more

HK and China headed in different directions in Stock Market. via ClipSyndicate

“Ultimately, that's not going to provide a pretty picture.”

Asian shares hit a new four-month high on Monday as a relentless rise in oil prices bolstered resource shares, but wariness about inflation and doubts about the U.S. economy kept gains in check. via Reuters UK

AUSTRALIAN shares were trading higher boosted by gains among big miners and energy stocks after oil reached new highs and metal prices rallied. via AdelaideNow...

“We have yet to see the full economic fallout from the US credit crunch and housing slump and the rise in interest rates locally. Further profit downgrades are likely and the May-to-October period is often difficult for shares.”

THE Australian sharemarket is expected to open higher this morning following gains in commodity prices, including gold, industrial metals and oil, on Friday. via The Sydney Morning Herald

For the better part of this past week, the Euro, Japanese Yen and British pound have been trapped within a tight trading range against the US dollar. via Currency Trading News

“If oil prices continue to move up, with Memorial Day coming up, I think traders and investors will be very cautious”

Crude oil future traders work on the floor of the New York Mercantile Exchange. Oil rose to a record $127.82 a barrel on Friday NEW YORK: US stocks will face major obstacles to extending their gains next week ... via Gulf Times

“The market will do a bit more work around these levels because resources will probably move back”

AUSTRALIA'S All Ordinaries index has smashed through the psychological 6000 level for the first time in more than four months to recover almost half of its losses from the market's peak in November. via NEWS.com.au

“The New Zealand dollar still seems to be under quite a bit of pressure, so that will continue to create very good demand for the export and offshore exposed companies.”

The top three stocks recovered from yesterday's losses, helping push the sharemarket up 1 per cent today. via NZ Herald

“And you know, California doesn't like to be 28th in anything, we like to be number one.”

Arnold Schwarzenegger's controversial plan to borrow against future state lottery revenue has been successful in other states, but California may find it difficult to raise enough money from lottery ticket ... via SFGate

“The parabolic rise in commodities makes me concerned about the cyclical pullback that we should expect on the other side of that”

The Toronto stock market racked up its third record close for the week on Friday as investors continued to pile into energy and metals stocks and oil prices cruised to new highs. via CBC News

U.S. stocks closed mostly lower on Friday, with a slide in consumer confidence and surging crude oil prices fueling worries about the economy. via The London News.Net

“Or, that the economy is going to be sicker longer, and when the market realizes that it will have a nasty down-leg.”

After nine months of turmoil that started with the collapse of the subprime mortgage market, Wall Street appears to be at a turning point of sorts.

The data of the past few weeks have given investors some hope that the worst of the credit crisis has passed, that the economy isn't losing jobs at a dangerous rate and that inflation isn't out of control. The result has been relative calm in the financial markets, enabling the major indexes to reach levels they hadn't seen since early in the year _ including the Dow Jones industrials' brief return earlier this month to the 13,000 mark. Read more

Tokyo stocks edged lower Friday after a four-day winning streak as investors sold recent gainers such as precision equipment and electronics makers.

The Nikkei fell 0.2 percent to 14,219.48, after rising more than 4 percent in the previous four sessions. The Topix index of all the Tokyo Stock Exchange First Section issues rose 0.2 percent to 1,395.87.

'Although investors are expected to chase the market higher in the near future,' the market is still not on a firm upward trend, said Seiichiro Iwasawa, chief strategist at Nomura Securities. 'It is not rising yet.' Read more

“We keep rotating from top to bottom, bottom to top”

Treasurys fell Friday after rising oil prices had investors worrying about inflation's impact on fixed-income returns. via StarTribune

“Consumer confidence continued to slip in early May due to surging food and fuel prices”

By Burton Frierson

NEW YORK (Reuters) - Consumer confidence tumbled to its lowest in 28 years this month, a survey showed on Friday, as short-term inflation expectations reached the highest levels since the stagflationary early 1980s.

The news heightens the dilemma for the Federal Reserve, which has bet that slowing economic growth will tame inflation pressures. The report also showed that lower-income households were the focus of the downturn in sentiment.

The Reuters/University of Michigan Surveys of Consumers' preliminary index of confidence fell to 59.5 in May, the lowest since June 1980. In April it was at 62.6. Read more

British Airways overcomes Heathrow Terminal 5 fiasco with a huge leap in annual profits. via Reuters Video

“Perhaps the most noticeable aspect of the past 24 hours has been the U.S. dollar's ability to hold its ground despite better-than-expected economic data from both the euro zone and Japan”

The dollar extended losses Friday, despite better-than-expected housing data, after a weak consumer sentiment index reading kept alive doubts about the strength of the U.S. economy. via MarketWatch

U.S. stock indexes climbed to the close Thursday in spite of news U.S. industrial production slowed in April. via UPI

The U.S. Federal Reserve has auctioned $7.2 billion in safe Treasury securities to big investment firms, part of an ongoing effort to ease credit stresses. via CNN

The sharemarket was led up by the top three stocks in early trading today. On Wall Street, United States stocks rose in light trading, pushing the S&P 500 index to its highest close since January, as a pullback ... via XtraMSN Real Estate

“It's on resources again, with BHP Billiton leading the pack on rumours that it was raising cash to add to its offer for Rio Tinto. The markets are concerned that it might negatively affect its earnings”

South African stocks dipped at the opening on profit taking following yesterday's record-breaking performance, with BHP Billiton among the worst casualties on talks that it may add cash to its Rio Tinto offer. via Sunday Times

A fall in market heavyweight Telecom pulled the top 50 index down in early trading today. via NBR Newsroom

“The total number of U.S. properties with foreclosure activity in April was the highest monthly total we've seen since we began issuing the report in January 2005”

U.S. stocks were solidly higher in late afternoon trade Tuesday, despite disappointing data on home foreclosures. via Laos News.Net

“The dividend increase sends a very positive signal about their outlook for the business”

Sony posted a surprise quarterly loss on Wednesday after a weak stock market ate into the value of securities held by its financial arm, but forecast a bigger-than-expected profit this year. via Imaging Magazine