Saturday, January 19, 2008
Breaking News: AP calls S.C. for McCain
The Associated Press has projected Sen. John McCain as the winner of the
Republican primary in South Carolina.
Earlier Saturday, Hillary Rodham Clinton and Mitt Romney won their party
caucuses in Nevada.
Hillary Clinton wins Nevada Democratic caucuses
Hillary Clinton wins Nevada caucuses
Sen. Hillary Rodham Clinton won the Nevada caucuses Saturday, powering
past Barack Obama in a race marred by last-minute charges of dirty
politics. Former Massachusetts Gov. Mitt Romney easily won the
Republican contest.
Breaking News: AP calls Nevada GOP caucus for Mitt Romney
The Associated Press reports Mitt Romney won Nevada's Republican
caucuses Saturday, while John McCain and Mike Huckabee dueled in the
South Carolina primary.
Friday, January 18, 2008
Markets Briefing Newsletter for Friday, 01/18/2008
| Dow : 12099.30 down 59.91
| S & P : 1325.19 down 8.06
| NASDAQ: 2340.02 down 6.88
| Bond (10Y): 3.62%, 105.09
MARKETS:
Disastrous Dow tumbles again
Wall Street caps another tough week. Dow falls to 10 month low. Nasdaq
sinks to lowest point in over a year. Upbeat earnings; fiscal stimulus
plan fail to soothe investors.
Bond-insurer woes may trigger more write-downs, turmoil
Bond-insurer woes may trigger more write-downs, turmoil
Just when you thought it was over, trouble in the $2.3 trillion
bond-insurance business could trigger another wave of big write-downs
from banks and brokerage firms.
President Bush calls for 'rapid and direct' stimulus
President Bush urges "direct and rapid" tax relief for both U.S.
consumers and businesses, calling such a plan the country's "most
pressing economic priority."
GE: overseas demand for energy, power equipment driving 2008
NEW YORK
General Electric Co. said Friday that solid demand for its aviation, oil
and gas and transportation equipment helped lift its fourth-quarter
profit 4%, with steady overseas growth so far showing no sign of abating
in 2008 evens as the U.S. economy cools off.
Consumers spent government rebate in 2001, but times have changed
CHICAGO
If history repeats itself, Federal Reserve Chairman Ben Bernanke is
right: Give consumers a sizable tax rebate check and they will mostly
take the money and run, spending those dollars and pumping energy into
the economy.
Treasury chief Paulson says economy has slowed 'materially,' calls for stimulus plan of up to $150 billion for consumers.
Treasury chief Paulson says economy has slowed 'materially,' calls for
stimulus plan of up to $150 billion for consumers.
Stocks rally loses steam as financials lead decline
Stocks rally loses steam as financials lead decline
U.S. stocks on Friday erased early gains, with financials weighing on
the market as new concerns about bond insurers overtook cheer that came
with solid quarterly results from International Business Machines Corp.
and General Electric Co.
Bid for U.S. economic stimulus gains crucial support
Prospects for an economic stimulus package brightened Thursday as
President Bush, Ben Bernanke and top congressional leaders all called
for Washington to act quickly to boost the economy.
General Electric infrastructure lifts quarterly profits by 4%
NEW YORK
Solid growth in its infrastructure arm helped General Electric Co.'s
fourth-quarter profit rise 4% and should help the industrial
conglomerate grow further this year.
Mortgage lenders point to efforts to fend off foreclosures: MBA
CHICAGO
As the rate of home foreclosures hit record highs in the third quarter,
mortgage lenders say they worked on loan modification and repayment
plans for more than 235,000 borrowers that quarter alone, the Mortgage
Bankers Association reported Thursday.
We spent rebates in 2001, but times are different now
CHICAGO
If history repeats itself, Federal Reserve Chairman Ben Bernanke is
right: Give consumers a sizable tax rebate check and they will mostly
take the money and run, spending those dollars and pumping energy into
the economy.
Dow Industrials leaps 100 points, propelled by fiscal-stimulus optimism
BULLETIN
Dow Industrials leaps 100 points, propelled by fiscal-stimulus optimism
1/18/2008 9:32:34 AM
Thursday, January 17, 2008
Markets Thursday, 01/17/2008
| Dow : 12159.21 down 306.95
| S & P : 1333.25 down 39.95
| NASDAQ: 2346.90 down 47.69
| Bond (10Y): 3.62%, 105.13
MARKETS:
Another down day on Wall Street
Stocks extend the 2008 selloff after Fed chair says economy needs
government help pronto. Merrill's loss, weak housing and drop in Philly
Fed add to fears.
Markets Thursday, 01/17/2008
| Dow : 12159.21 down 306.95
| S & P : 1333.25 down 39.95
| NASDAQ: 2346.90 down 47.69
| Bond (10Y): 3.62%, 105.13
MARKETS:
Another down day on Wall Street
Stocks extend the 2008 selloff after Fed chair says economy needs
government help pronto. Merrill's loss, weak housing and drop in Philly
Fed add to fears.
U.S. stocks plunge as economic worries grow; Dow falls 307 points
U.S. stocks plunge as economic worries grow; Dow falls 307 points
U.S. stocks sold off for a third straight day on Thursday, with the Dow
sinking to a 10-month low in its worst day since Nov. 7, after Federal
Reserve Chairman Ben Bernanke spoke about the country's economic trouble
and a regional measure of economic activity contracted.
The Fed: Bernanke endorses quick, temporary fiscal stimulus
WASHINGTON
Congress could help steer the economy away from recession if it adopted
a quick, efficient and temporary fiscal stimulus plan, Federal Reserve
Chairman Ben Bernanke told Congress on Thursday.
Merrill keeping stakes in BlackRock, Bloomberg
Despite facing huge write-offs and seeking capital from seemingly every
emerging-market investment group, Merrill Lynch like a refugee on the
run, still refuses to sell the family jewels.
GM sets next round of buyouts; savings mount
SAN FRANCISCO
General Motors Corp. announced on Thursday that it is on track to
achieve further cost savings beyond its 2010 targets, with the next
phase of its attrition program set for launch next month.
Dow industrials plunge 307 points to 10-month low as Bernanke comments, data weigh
Dow industrials plunge 307 points to 10-month low as Bernanke comments,
data weigh
1/17/2008 4:04:06 PM
U.S. stocks slump as Bernanke testifies to Congress
U.S. stocks slump as Bernanke testifies to Congress
U.S. stocks sank into negative territory on Thursday as Federal Reserve
Chairman Ben Bernanke spoke about the economy and after a gauge of
economic activity in the Philadelphia area showed a sharp contraction in
January.
Merrill Lynch humbled by $9.8 bln loss, $11.5 bln write-down
Wall Street titan Merrill Lynch & Co Inc was the latest
financial-services firm humbled by the credit market crisis on Thursday,
writing off $11.5 billion of bad debt and derivatives, and reporting a
loss of almost $10 billion.
Economic Report: U.S. initial jobless claims down 21,000, to 301,000,
last week
WASHINGTON
First-time jobless claims dipped in the most recent weekly data that the
Labor Department reported Thursday, while the recent upward trend in
continuing claims reached its highest level in more than two years.
Economic Report: Housing starts plunge 14% to 16-year low
WASHINGTON
Construction on new homes fell 14% in December to a seasonally adjusted
annual rate of 1.01 million, the slowest building pace in more than 16
years, the Commerce Department reported Thursday.
Forecaster sees $1,000 gold, but warns market could correct
SAN FRANCISCO
Gold is well on its way to $1,000 an ounce this year, London
precious-metals consultancy GFMS Ltd. reported Thursday, the latest
forecast that sees bullion at the four-digit mark.
Breaking News: Housing starts tumble 24.8% in 2007
WASHINGTON (AP) - The prolonged slump in housing pushed construction of
new
homes in 2007 down by the largest amount in 27 years with the
expectation that
the downturn has further to go.
Breaking News Thu., January 17, 2008
FEDERAL RESERVE CHAIRMAN BEN BERNANKE INSISTS U.S. IS NOT HEADED FOR A
RECESSION, BUT FORECASTS SLOWER GROWTH IN 2008
Merrill Lynch swings to fourth-quarter loss of $9.8 billion
BULLETIN
Merrill Lynch swings to fourth-quarter loss of $9.8 billion
1/17/2008 7:05:58 AM
U.S. housing starts plunge 14% in December, weakest building pace in more than 16 years
BULLETIN
U.S. housing starts plunge 14% in December, weakest building pace in
more than 16 years
1/17/2008 8:31:11 AM
Wednesday, January 16, 2008
Markets Wednesday, 01/16/2008
| Dow : 12466.16 down 34.95
| S & P : 1373.20 down 7.75
| NASDAQ: 2394.59 down 23.00
| Bond (10Y): 3.73%, 104.19
MARKETS:
Intel batters stocks
Wall Street gives up afternoon recovery attempt, ending lower on worries
about the economy, disappointment about Intel's earnings and outlook.
Market Briefing Newsletter for Wednesday, 01/16/2008
| Dow : 12466.16 down 34.95
| S & P : 1373.20 down 7.75
| NASDAQ: 2394.59 down 23.00
| Bond (10Y): 3.73%, 104.19
MARKETS:
Intel batters stocks
Wall Street gives up afternoon recovery attempt, ending lower on worries
about the economy, disappointment about Intel's earnings and outlook.
U.S. stocks end down after roller coaster session
U.S. stocks end down after roller coaster session
U.S. stocks on Wednesday edged off earlier declines, with badly beaten
financial and consumer stocks helping pave the way higher amid easing
commodity prices and less-disappointing-than-anticipated results from
two large banks.
Economic Report: Beige Book sees slow growth in most regions
The U.S. economy grew at a modest pace in most regions of the nation in
late November and December, the Federal Reserve reported Wednesday.
Oracle's BEA buy raises questions about future growth
SAN FRANCISCO
Oracle Corp.'s planned acquisition of rival BEA Systems Inc. in a deal
valued at $8.5 billion highlights pressing questions about what
significant possible acquisitions remain for the voracious maker of
business software.
Ex-Brocade CEO sentenced to jail, fined millions
Gregory Reyes, the former chief executive of Brocade was sentenced to 21
months in prison for his role in an stock-options backdating scheme at
the technology firm.
Fed Beige Book sees slow growth in most regions of U.S.
BULLETIN
Fed Beige Book sees slow growth in most regions of U.S.
1/16/2008 2:00:34 PM
U.S. stocks strike negative tone as Intel disappoints
U.S. stocks strike negative tone as Intel disappoints
U.S. stocks struck a negative tone Wednesday as Intel Corp.'s
disappointing quarterly profit and forecast prompted more hand-wringing
about the technology sector as well as the direction of the global
economy.
Wells Fargo's net slips, sees tough 2008 for consumer sector
Wells Fargo & Co. on Wednesday reported fourth-quarter net income fell
38% as the bank braces for a consumer slowdown in 2008. Still, the
company's chief executive said the pain in credit markets may present
opportunities for acquisitions and other purchases.
J.P. Morgan profit falls 34% on subprime, investment banking
J.P. Morgan Chase said Wednesday its fourth-quarter profit slipped 34%,
driven lower by a $1.3 billion write-down of subprime assets and
deteriorating performance in its home equity business and a big drop in
investment banking activity.
Economic Report: Consumer prices rise 0.3% in December; core CPI's up
0.2%
Led once again by higher energy prices, U.S. consumer prices increased
0.3% in December, slightly more than expected, the Labor Department
reported Wednesday.
Oracle buys BEA Systems after raising price; Icahn supports deal
Oracle Corp. said Wednesday it would acquire BEA Systems Inc., a company
it has pursued for three months, in a deal valued at $8.5 billion.
Vytorin Study Results Cause Stocks To Sink
January 16, 2008
U.S.
Chertoff Fears Homegrown Terrorism Abroad
U.S. Homeland Security secretary Michael Chertoff told the BBC that
Washington fears Europe may be a staging ground for terrorist attacks
based on how easy it is for Europeans travel to the United Sates.
______________
World
Violence-Weary Kenyans Await Aid
Kenya was getting ready, again, for mass protests across the country.
Many of the streets were filled with muddy water as heavy rain fell on
weary refugees.
______________
Politics
Romney's Michigan Win Clouds GOP Race
Mitt Romney's win in the Michigan Republican primary on Tuesday not only
revived the former Massachusetts governor's presidential hopes, but also
further complicated a GOP race already lacking a clear front-runner.
____________
SciTech
Apple Unveils Super Slim Laptop
Steve Jobs unveiled a super-slim laptop less than an inch thick, and
confirmed Apple's foray into online movie rentals, revealing an alliance
with all six major movie studios to offer first-run films over
high-speed Internet connections.
___________
Business
Vytorin Study Results Cause Stocks To Sink
Investors continued dumping shares of Merck & Co and Schering-Plough,
after their cholesterol-drug partnership took a hit from results of a
controversial study and the fallout from its delayed release.
______________________
Opinion
Cheap Talk On The Economy
The economy has become a top issue in the presidential race, but
National Review Online isn't impressed with how the candidates -
including wrongheaded Democrats and timid Republicans - are talking
about it.
Consumer prices up 0.3%, a little more than expected; up 0.2% excluding food and energy.
Consumer prices up 0.3%, a little more than expected; up 0.2% excluding
food and energy.
Oil dips below $90 a barrel after surprise surge in crude inventories.
Oil dips below $90 a barrel after surprise surge in crude inventories
Romney, Clinton win Mich. primary
DETROIT (AP) - Mitt Romney scored his first major primary victory
Tuesday in his native Michigan, a win he desperately needed to give his
weakened candidacy new life and set the stage for a three-man Republican
showdown in South Carolina in just four days. Sen. Hillary Rodham
Clinton won the meaningless Democratic primary, in which she was the
only major candidate entered.
Tuesday, January 15, 2008
MarketsTuesday, 01/15/2008
| Dow : 12501.11 down 277.04
| S & P : 1380.95 down 35.30
| NASDAQ: 2417.59 down 60.71
| Bond (10Y): 3.67%, 104.69
MARKETS:
Recession fears batter stocks
Dow, Nasdaq and S&P 500 all fall to more than 9-month lows after
Citigroup's almost $10 billion quarterly loss and a weak Dec. retail
sales report.
U.S. stocks end at lowest levels so far for 2008
U.S. stocks end at lowest levels so far for 2008
U.S. stocks on Tuesday afternoon plunged to session lows after dismal
December retail sales heightened anxieties about the economy and raised
questions about the Federal Reserve's ability to stem the damage.
Apple debuts ultrathin laptop, movie-rental service at Macworld
Apple Inc. lifted the wraps Tuesday on a new ultrathin laptop computer
and a movie-rental service that will work through the company's iTunes
online store.
Rough sketch of a post-merger Delta Air Lines arises
As Delta reportedly begins merger talks with a pair of rivals, industry
analysts say a rough image is starting to emerge of what such a tie-up
could look like.
Merrill Lynch, Citigroup scour the globe for cash
Wall Street's worldwide tour, which could be called Bailout '08,
continued as two of the nation's largest financial-services firms
announced investments from everyone from the Kuwaitis to a New Jersey
investment fund.
Economic Report: Retail sales fall 0.4% in December
In another sign of a weakening economy, retail sales ended the year on a
sour note, dropping 0.4% in December, the Commerce Department reported
Tuesday.
Apple launches online-movie rental service in pact with studios
BULLETIN
Apple launches online-movie rental service in pact with studios
1/15/2008 12:59:44 PM
U.S. stocks close sharply lower; Citi losses, retail sales help drive sell-off
BULLETIN »
U.S. stocks close sharply lower; Citi losses, retail sales help drive
sell-off
1/15/2008 4:04:58 PM
U.S. stocks tumble; Dow drops more than 200 points
U.S. stocks tumble; Dow drops more than 200 points
U.S. stocks fall more than 200 points in morning trade, under pressure
from slumping retail sales in December and large losses from Dow
industrials component Citigroup.
Economic Report: Retail sales fall 0.4% in December
WASHINGTON
With sales of cars and gas slowing, retail sales fell 0.4% in December,
the first decline in six months, the Commerce Department reported
Tuesday.
Citigroup swings to loss on $18 bln charge; cuts payout 41%
Citigroup Inc., the nation's largest bank by assets, ended the
suspense on Wall Street over how bad its results would be, reporting its
first quarterly loss since 1998 and slashing its dividend while at the
same time raising more than $12 billion in new capital to bolster its
balance sheet.
Merrill Lynch lines up fresh $6.6 billion cash injection
LONDON
Merrill Lynch & Co. on Tuesday said it has received a $6.6 billion cash
injection from several investors, notably three from the Middle East and
Asia.
Tesco, Hypo Real Estate help drive Europe to a 16-month low
LONDON
European shares slid to 16- month lows on Tuesday, with Tesco and Hypo
Real Estate notable decliners in a day when two more U.S financial firms
revealed further moves to shore up capital positions.
Dow Industrials fall over 200 points after weak Citi results, economic data
BULLETIN:
Dow Industrials fall over 200 points after weak Citi results, economic
data
1/15/2008 10:57:06 AM
Merrill Lynch to get $6.6 billion capital injection from several investors
BULLETIN:
Merrill Lynch to get $6.6 billion capital injection from several
investors
1/15/2008 6:08:18 AM
Citigroup slashes dividend 41 percent, takes $18.1 billion writedown and announces $12.5 billion capital infusion.
Citigroup slashes dividend 41 percent, takes $18.1 billion writedown and
announces $12.5 billion capital infusion.
Retail sales surprisingly weak in December, down 0.4%; wholesale prices down 0.1%, weaker than forecast.
Retail sales surprisingly weak in December, down 0.4%; wholesale prices
down 0.1%, weaker than forecast.
U.S. stocks open sharply lower; Dow industrials off 120 points in first minute
BULLETIN:
U.S. stocks open sharply lower; Dow industrials off 120 points in first
minute
1/15/2008 9:31:28 AM
Monday, January 14, 2008
Markets Monday, 01/14/2008
| Dow : 12778.15 up 171.85
| S & P : 1416.25 up 15.23
| NASDAQ: 2478.30 up 38.36
| Bond (10Y): 3.77%, 103.84
MARKETS:
Big Blue makes Wall Street's day
Major indexes close higher after IBM says results will top estimates.
Anticipation of Fed action also adds to the upside.
U.S. stocks end higher, investors cheered by IBM results
U.S. stocks end higher, investors cheered by IBM results
U.S. stocks rebounded on Monday, with the Dow industrials' triple-digit
rise triggered by strong results from International Business Machines
Corp., giving an oversold market reason to turn higher.
Cotton nears four-year high as crop plays catch-up to soy, corn
SAN FRANCISCO
Cotton futures rallied 4% Monday before stopping at the maximum
electronic trading gain allowed, as traders bet the textile crop is
poised to follow the heady increases of soybean and corn futures.
IBM shares jump on profit update; questions about tech remain
SAN FRANCISCO
International Business Machines Corp. delivered a surprise Monday,
saying fourth-quarter earnings for the information-technology giant will
easily exceed Wall Street's estimates and touching off a buying spree in
Big Blue shares and across the tech sector.
Citigroup write-offs could reach $24 billion: report
LONDON
Citigroup may write off up to $24 billion over subprime- and
credit-related losses, putting as many as 20,000 jobs at risk, according
to a published report on Monday.
The Ratings Game: Credit Suisse, first time this decade, recommends U.S.
stocks
Credit Suisse strategists, for the first time this decade, recommended
that fund managers buy more U.S. stocks than a world index would
suggest, saying that authorities state-side are likely to be quicker on
the draw than their European counterparts in responding to slowing
economy.
U.S. stocks rebound, buoyed by IBM's upbeat earnings
U.S. stocks rebound, buoyed by IBM's upbeat earnings
U.S. stocks rebounded on Monday, with the Dow industrials' triple-digit
rise triggered by strong results from International Business Machines
Corp., giving an oversold market reason to turn higher.
IBM expects fourth-quarter profit to easily top forecasts
WASHINGTON
Fourth-quarter profit at IBM Corp. easily exceeded Wall Street's
estimates owing to what the information-technology giant called stronger
sales in Asia and Europe as well as rising demand in emerging markets.
Citigroup write-offs could reach $24 billion: report
LONDON
Citigroup may write off up to $24 billion over subprime- and
credit-related losses, putting as many as 20,000 jobs at risk, according
to a published report on Monday.
CORRECT: Sears falls to multi-year low on profit warning
NEW YORK
Sears Holdings Corp. shares fell 8% in early action Monday after the
retailer warned that fourth-quarter earnings per share may fall as much
as 51% from last year's levels.
The Ratings Game: Credit Suisse, first time this decade, recommends U.S.
stocks
Credit Suisse strategists, for the first time this decade, recommended
that fund managers buy more U.S. stocks than a world index would
suggest, saying that authorities state-side are likely to be quicker on
the draw than their European counterparts in responding to slowing
economy.
Dow industrials roar more than 100 points higher at open; Nasdaq up more than 1%
BULLETIN:
Dow industrials roar more than 100 points higher at open; Nasdaq up more
than 1%
1/14/2008 9:31:26 AM
Sears Holdings warns fourth-quarter EPS to fall as much as 51%
BULLETIN:
Sears Holdings warns fourth-quarter EPS to fall as much as 51%
1/14/2008 6:09:09 AM
IBM, in early announcement, reports earnings gain and revenue growth that surpasses estimates.
IBM, in early announcement, reports earnings gain and revenue growth
that surpasses estimates.
Sunday, January 13, 2008
Chevrolet Malibu named car of the year at the 2008 North American International Auto Show in Detroit; Mazda CX-9 is truck of the year
Chevrolet Malibu named car of the year at the 2008 North American
International Auto Show in Detroit; Mazda CX-9 is truck of the year
