Friday, August 17, 2007
Stocks close with daily gains, weekly losses
DJIA
13,079
+233.30
S&P
1,445
+34.67
NASDAQ
2,505
+53.96
10Yr
4.67%
+0.073
Stocks close with daily gains, weekly losses
NEW YORK
U.S. stocks surged Friday, with the Dow adding more than 200 points,
after the Federal Reserve's unexpected intervention, yet still ended
with weekly losses.
Oil drillers brace for Hurricane Dean
NEW YORK
Oil drillers began pulling employees from the Gulf of Mexico on Friday
as Wall Street trains its eye on Hurricane Dean's path in coming days.
Fed cut to discount rate won't impact major industrials
NEW YORK
Large-equipment manufacturers using unsecured, short-term debt, or
commercial paper, for everything from payroll to funding customer
transactions aren't likely to benefit directly from Friday's Federal
Reserve cut to the discount rate.
The Fed: Will the Fed's Friday rate cut work to restore calm?
WASHINGTON
The Federal Reserve took a bold step Friday in cutting the discount rate
and offering to be the lender of last resort to a shaky financial
system, but most observers on Wall Street think the Fed has more work to
do to comfort shaky financial markets and prevent more serious problems
from developing in the economy.
John Shinal's Tech Investor: While Wall Street panics, Silicon Valley
hums along
SAN FRANCISCO
In a turnabout from seven years ago, the latest bubble to burst is more
of a New York thing.
U.S. stocks soar after Fed steps in
DJIA
13,013
+168.19
S&P
1,435
+23.86
NASDAQ
2,494
+43.50
10Yr
4.68%
+0.077
U.S. stocks soar after Fed steps in
NEW YORK
U.S. stocks remained higher Friday but significantly pared gains as
investors mulled the impact of the Federal Reserve's move to cut its
discount interest rate in an attempt to ease concerns over liquidity.
The Fed: CORRET: Fed cuts discount rate to ease credit crunch
WASHINGTON
In a move wildly applauded by financial markets on both sides of the
Atlantic, the Federal Reserve announced Friday that it's cut the
discount rate by a half percentage point to 5.75%.
The Ratings Game: Countrywide upgraded as analysts say lender can
weather the storm
BOSTON
An analyst at Banc of America Securities upgraded shares of troubled
mortgage lender Countrywide Financial Corp. to neutral from sell Friday,
saying that tapping its $11.5 billion credit facility should provide
Countrywide the time needed to address liquidity and capital concerns.
London Markets: British stocks jump after Federal Reserve discount rate
cut
LONDON
British stocks surged on Friday after the U.S. Federal Reserve stepped
in with a half-point cut to a key lending rate, led by financial
services firms on hopes for a full-fledged rate cut.
Whole Foods, Wild Oats shares zoom; deal gets legal boost
NEW YORK
Shares of Whole Foods Market Inc. and Wild Oats Markets Inc. soared in
Friday morning trading after a federal judge rejected a U.S. Federal
Trade Commission request to block the combination of the two companies.
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Dow gain reaches 300 points as stocks surge after Fed discount rate cut.
Dow gain reaches 300 points as stocks surge after Fed discount rate
cut.
Fed cuts discount rate by 0.5%
Breaking News
WASHINGTON - The Federal Reserve, declaring that increased economic
uncertainty poses risks for U.S. business growth, announced Friday that
it has approved a half-percentage point cut in its discount rate on
loans to banks.
Thursday, August 16, 2007
Stocks recover from steep losses to finish mixed
DJIA
12,845
-15.69
S&P
1,411
+4.55
NASDAQ
2,451
-7.76
10Yr
4.60%
-0.106
Stocks recover from steep losses to finish mixed
NEW YORK
U.S. stocks experienced a dramatic reversal in the final hour of trade
Thursday, helping the Dow industrials to recover most of a 340-point
deficit to finish only slightly lower.
H-P earnings jump 29% on strong PC sales
SAN FRANCISCO
Hewlett-Packard Co. said Thursday that earnings for the third-fiscal
quarter jumped 29%, thanks to strength in PC sales along with a decline
in prices for components such as memory chips.
Mining, metals companies hammered on debt jitters, M&A chill
SAN FRANCISCO
Shares of metals and mining stocks were hammered in the stock market
Thursday, as debt market jitters sank metals prices and the sector's M&A
frenzy seemed more likely to stall.
Bigger cash hoard doesn't mean Countrywide's safe yet
SAN FRANCISCO
Countrywide's move to draw down a $11.5 billion credit line gives the
largest U.S. home lender a needed shot in the arm as credit markets
tumble across the world.
Economic Report: U.S. housing starts hit 10-year low in July; permits
also lower
WASHINGTON
U.S. home builders cut back again in July, starting construction on the
fewest number of new homes in more than 10 years, the Commerce
Department reported Thursday.
Dow industrials claw their way back into positive territory after falling 341 earlier in the session.
Dow industrials claw their way back into positive territory after
falling 341 earlier in the session.
U.S. stocks decline further as credit saga continues
11:46 am ET
DJIA
12,690
-171.36
S&P
1,390
-16.68
NASDAQ
2,433
-25.63
10Yr
4.66%
-0.047
U.S. stocks decline further as credit saga continues
NEW YORK
U.S. stocks retreated Thursday amid data illustrating the deepening
slump in the housing sector and word that Countrywide Financial, the
nation's largest mortgage lender, was drawing on an $11.5 billion line
of credit.
Economic Report: U.S. housing starts hit 10-year low in July; permits
also lower
WASHINGTON
U.S. home builders cut back again in July, starting construction on the
fewest number of new homes in more than 10 years, the Commerce
Department reported Thursday.
The Fed: Analysts start to pencil in Fed rate cut in October
WASHINGTON
Faced with tightening credit markets, Wall Street is clamoring for the
Federal Reserve to cut interest rates, but so far there is no indication
that the central bank will oblige.
Europe Markets: European shares drop sharply as banks and miners fall
LONDON
European shares slumped Thursday, with the top British index retreating
below a key level for the first time since March, as investors once more
sold down financial stocks as they worried about the extent of current
credit market woes.
Asian markets skid on heavy selling
HONG KONG
Asian indexes skidded Thursday as investors concerned about the health
of global credit markets continued to sell stocks across the board.
Countrywide shares down 17% in premarket trading after mortgage lender draws on $11.5B credit line.
Countrywide shares down 17% in premarket trading after mortgage lender
draws on $11.5B credit line.
Housing starts lowest in more than 10 years in July, down 6.1% from June; permits lowest in nearly 11 years.
Housing starts lowest in more than 10 years in July, down 6.1% from
June; permits lowest in nearly 11 years.
Wednesday, August 15, 2007
Stocks close solidly lower, S&P off for year
DJIA
12,861
-167.45
S&P
1,406
-19.84
NASDAQ
2,458
-40.29
10Yr
4.71%
-0.026
Stocks close solidly lower, S&P off for year
NEW YORK
The selling of U.S. stocks accelerated ahead of the closing bell
Wednesday, leading the Dow falling below the 13,000 level for the first
time since the end of April, amid rising concerns about the troubled
credit markets.
The Ratings Game: Countrywide tumbles on Merrill's downgrade to sell
SAN FRANCISCO
Shares of top U.S. home lender Countrywide Financial Corp. tumbled 13%
Wednesday after a Merrill Lynch analyst downgraded the stock from buy to
sell.
Analysts start to pencil in Fed rate cut in October
WASHINGTON
Faced with tightening credit markets, Wall Street is clamoring for the
Federal Reserve to cut interest rates, but so far there is no indication
that the central bank will oblige.
More markets show home-price increases even as sales tumble
CHICAGO
More metropolitan areas showed home price increases during the second
quarter, the National Association of Realtors said on Wednesday. But
existing-home sales during the same period remained below year-ago
levels in most states.
Earnings Outlook: Analysts see H-P likely topping earnings estimates
SAN FRANCISCO
Hewlett-Packard Co. is scheduled to report its fiscal third-quarter
results after the market closes Thursday, and anticipation is high about
the likelihood for the technology giant to exceed Wall Street's current
earnings and revenue estimates.
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Midday Report: Stocks reverse course amid conflicting Fed signals
DJIA
13,025
-3.33
S&P
1,430
+3.96
NASDAQ
2,504
+5.58
10Yr
4.72%
-0.010
Stocks reverse course amid conflicting Fed signals
NEW YORK
U.S. stocks turned higher after the Federal Reserve cancelled overnight
repurchase operations, a move which the market first took to mean it was
comfortable with liquidity levels in the system.
Further European interest-rate moves now seen as up in the air
LONDON
Until a couple of weeks ago, most economists were confidently predicting
another round of intererst-rate hikes in Europe and the U.K. as
economies in the region showed little sign of slowing. No more.
Economic Report: U.S. retail-level inflation moderating in July, CPI
data show
WASHINGTON
With gasoline prices falling, U.S. consumer prices increased 0.1% in
July, the slowest inflation rate in eight months, the Labor Department
reported Wednesday.
FundWatch: Merrill Lynch survey shows managers still positive on
equities
LONDON
Fund managers remain relatively positive about the prospects for global
equity markets, even after the recent market downturn, according to
Merrill Lynch's monthly fund manager survey for August.
Recent losses in hedge fund industry spark redemption concerns
SAN FRANCISCO
Recent losses suffered by some hedge funds have raised concern that
managers in the $1.5 trillion industry could get big redemption requests
from investors this week.
Home prices drop for fourth straight quarter: National Association of Realtors.
Home prices drop for fourth straight quarter: National Association of
Realtors.
Consumer prices rise modestly, in line with expections; July up 0.1% overall, 0.2% ex food and energy, Reuters reports.
Consumer prices rise modestly, in line with expections; July up 0.1%
overall, 0.2% ex food and energy, Reuters reports.
Tuesday, August 14, 2007
U.S. stock end sharply lower as credit woes return
DJIA
13,028
-207.61
S&P
1,426
-26.38
NASDAQ
2,499
-43.12
10Yr
4.73%
-0.046
U.S. stock end sharply lower as credit woes return
NEW YORK
U.S. stocks fell sharply Tuesday, taking the Dow industrials down by
over 200 points and within less than 30 points of the 13,000 level, as
credit concerns came back to the fore.
Trichet, others see banking system returning to normal
LONDON
After central banks rode to the rescue with billions in emergency
temporary loans last week, liquidity is returning to the global banking
system, European Central Bank President Jean-Claude Trichet and other
observers said Tuesday.
IPO Report: VMware surges almost 76% on its first day of trading
SAN FRANCISCO
VMware Inc. shares climbed almost 76% Tuesday in a strong debut from EMC
Corp.'s software spinoff, which raised nearly $1 billion from
tech-hungry investors.
Shaky HD Supply deal threatens big buyback plan
CHICAGO
Home Depot's $10.3 billion deal to sell its supply business to a
private-equity group appears to be on shaky ground and could upend a big
chunk of the retailer's massive stock buyback program.
U.S. stock declines deepen on Sentinel woes
DJIA
13,101
-135.26
S&P
1,436
-16.64
NASDAQ
2,521
-21.09
10Yr
4.74%
-0.042
U.S. stock declines deepen on Sentinel woes
NEW YORK
U.S. stock losses accelerated Tuesday after reports Sentinel Management
Group sought to halt redemptions to money-market fund holders,
exacerbating worries about a liquidity crunch.
Trichet, others see banking system returning to normal
LONDON
After central banks rode to the rescue with billions in emergency
temporary loans last week, liquidity is returning to the global banking
system, European Central Bank President Jean-Claude Trichet and other
observers said Tuesday.
Wal-Mart stock drops after retailer cuts earnings forecast
CHICAGO
Wal-Mart Stores Inc. saw its shares drop more than 5% Tuesday after the
retailer said its earnings performance for the rest of the fiscal year
will face continuing pressure from global economic woes.
Home Depot profit drops 15%, backs full-year view
CHICAGO
Home Depot Inc. on Tuesday said second-quarter profit dropped nearly
15%, stung by weakness in the U.S. housing market, but the
home-improvement retailer backed its forecast for the year.
Mattel to recall more toys on lead paint, magnet concerns
NEW YORK
Mattel Inc., the world's largest toymaker, announced its second recall
this month, involving 18.6 million toys worldwide on magnet and lead
paint hazard concerns.
Mattel recalling more Chinese-made toys
WASHINGTON (AP) - Toy-making giant Mattel Inc. issued recalls Tuesday
for millions of Chinese-made toys that contain magnets that can be
swallowed by children or could have lead paint.
U.S. trade gap falls to $58.1 billion in June, less than expected ; wholesale prices up more than expected overall.
U.S. trade gap falls to $58.1 billion in June, less than expected ;
wholesale prices up more than expected overall.
CPSC says Mattel recalling millions of toys due to lead paint, loose magnet hazards.
CPSC says Mattel recalling millions of toys due to lead paint, loose
magnet hazards.
Monday, August 13, 2007
Markets Monday, 08/13/2007
| Dow : 13236.53 down 3.01
| S & P : 1452.92 down 0.72
| NASDAQ: 2542.24 down 2.65
| Bond (10Y): 4.78%, 99.75
MARKETS:
Stocks surge, retreat
Major gauges give up gains as investors welcome cash from central banks,
solid retail sales, but hold back nonetheless.
Midday Report: U.S. stocks higher as central bank moves take hold
DJIA
13,326
+86.98
S&P
1,464
+11.28
NASDAQ
2,562
+17.93
10Yr
4.80%
+0.026
U.S. stocks higher as central bank moves take hold
NEW YORK
U.S. stocks gained Monday after Goldman Sachs Group Inc. reinforced one
troubled hedge fund with additional capital and central banks funneled
more cash into global financial systems, easing worries about a
worldwide credit squeeze.
Blackstone profit, revenue triples
NEW YORK
Blackstone Group L.P., lifted by strong gains in real estate, on Monday
said second quarter profit tripled on a pro forma basis.
China's inflation in July soars to decade-high 5.6%
HONG KONG
China's consumer price inflation in July soared to its highest level in
more than a decade, beating estimates by a big margin and strengthening
the possibility of another interest-rate hike by the country's central
bank.
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Top Bush Aide Karl Rove Resigns
Top Bush Aide Karl Rove Resigns
Karl Rove, President Bush's chief political strategist, is planning to
leave the administration at the end of August. Rove was nicknamed "the
architect" by the president for designing the strategy that twice won
him the White House.
Retail sales slightly above forecasts for July; up 0.3% overall, 0.4% excluding autos, Reuters reports.
Retail sales slightly above forecasts for July; up 0.3% overall, 0.4%
excluding autos, Reuters reports.
