Friday, February 01, 2008
Markets Friday, 02/1/2008
| Dow : 12743.19 up 92.83
| S & P : 1395.42 up 16.87
| NASDAQ: 2413.36 up 23.50
| Bond (10Y): 3.59%, 105.38
MARKETS:
Stocks jump on day, week
Wall Street rallies as investors consider Microsoft's bid for Yahoo and
help for bond insurers. Jan. jobs report disappoints.
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U.S. stocks fight to maintain gains in face of mixed data
U.S. stocks fight to maintain gains in face of mixed data
U.S. stocks faltered Friday as early cheer from Microsoft's $44.6
billion bid for Yahoo Inc. was overshadowed by the first January U.S.
payrolls dip in more than four years.
Microsoft offers $44.6 bln for Yahoo; targets 'dominant player'
Microsoft Corp. on Friday offers to buy search-engine operator Yahoo
Inc. for $31 a share, or $44.6 billion, in an effort to better compete
with online-advertising juggernaut Google Inc.
The Ratings Game: Google downgraded over risk concerns
Analyst downgrades Google to hold from buy, citing the Internet
giant's increasing risk profile.
Exxon Mobil shatters profit records; quarterly net rises 14%
NEW YORK
Exxon Mobil on Friday reported its most lucrative quarter ever, as
profit neared the $12 billion mark on a slight rise in adjusted oil
production, capping off a year of record crude-oil prices.
Rio Tinto stock surges after Alcoa, Chinalco build 12% stake
Shares in Rio Tinto surge after Alcoa Inc. and Aluminum Corp. of China
say they've acquired a 12% stake in the group, putting themselves in the
middle of a battle for control of the mining giant.
ISM manufacturing index jumps to stronger-than-expected 50.7 in January.
ISM manufacturing index jumps to stronger-than-expected 50.7 in January.
U.S. construction spending declines in December
BULLETIN
U.S. construction spending declines in December
2/1/2008 10:01:30 AM
News Alert! Microsoft Corp. Will Bid $44.6 Billion For Yahoo Inc.
Microsoft Corp. offered to buy search engine operator Yahoo Inc. for
$44.6 billion in cash and stock in a move to boost its competitive edge
in the online services market. Microsoft bid $31 per share for Yahoo,
representing a 62 percent premium to Yahoo's closing stock price
Thursday.
News Alert! Microsoft Corp. Will Bid $44.6 Billion For Yahoo Inc.
Microsoft Corp. offered to buy search engine operator Yahoo Inc. for
$44.6 billion in cash and stock in a move to boost its competitive edge
in the online services market. Microsoft bid $31 per share for Yahoo,
representing a 62 percent premium to Yahoo's closing stock price
Thursday.
U.S. stock futures rally nearly 140 points after Microsoft bids for Yahoo
BULLETIN
U.S. stock futures rally nearly 140 points after Microsoft bids for
Yahoo
2/1/2008 6:49:53 AM
U.S. payrolls down 17,000 in January, unemployment rate dips to 4.9%, Dow Jones reports.
U.S. payrolls down 17,000 in January, unemployment rate dips to 4.9%,
Dow Jones reports.
Thursday, January 31, 2008
Markets Thursday, 01/31/2008
| Dow : 12650.36 up 207.53
| S & P : 1378.55 up 22.74
| NASDAQ: 2389.86 up 40.86
| Bond (10Y): 3.59%, 105.34
MARKETS:
Big day, brutal month for markets
Stocks rally on the last day of January for a miserable start to 2008.
No 'smoking gun' expected in Friday's key data
No 'smoking gun' expected in Friday's key data
WASHINGTON
Two of the most important monthly indicators of the economy's health to
be released Friday are expected to show the economy is weak but neither
is expected to provide the "smoking gun" that proves the economy is in
recession, economists said.
Market Snapshot: U.S. stocks end session ahead, but down for the month
U.S. stocks close higher, but still end January with substantial losses,
as a shaky market swings down on MBIA Inc.'s losses only to reverse
higher when the bond insurer said it did not believe its triple-A rating
was in jeopardy.
Google posts 17% profit gain, but shares slide lower
Google Inc. reports its fiscal fourth-quarter profit rose 17%, but
results fall short of Wall Street analysts' expectations.
More Super Bowl sponsors face risk as the economy falters
More sponsors of big game's broadcast face a bigger risk this year as
the economy falters.
Home Depot to lower 10% of headquarters staff
NEW YORK
Home Depot Inc., the largest U.S. home improvement retailer, plans to
cut 10% of its headquarters staff to lower costs and weather a slowing
housing market that has hurt its sales.
Stocks surge, led higher by financial and homebuilder stocks as MBIA soothes investor fear over the bond insurer's fate.
Stocks surge, led higher by financial and homebuilder stocks as MBIA
soothes investor fear over the bond insurer's fate.
Dow industrials up by triple digits after erasing morning's steep losses
BULLETIN
Dow industrials up by triple digits after erasing morning's steep
losses
1/31/2008 12:01:16 PM
Stocks broadly lower; spike in jobless claims rattles investors
Stocks broadly lower; spike in jobless claims rattles investors
U.S. stocks fell with a thud Thursday, with sentiment hit by a sharp
rise in the nation's first-time jobless claims and by troubled bond
insurer MBIA Inc.'s report of a $2.3 billion fourth-quarter loss.
Amazon profit doubles, but stock falls after cloudy outlook
Amazon.com sees its earnings more than double in the fourth quarter
thanks to strong holiday sales, but the online retail giant issues a
forecast for operating income that's below Wall Street's expectations.
Starbucks slips on profit slowdown
NEW YORK
Shares of Starbucks fell more than 4% in early trading Thursday morning
after the coffee chain reported slower profits because of weaker
business in the U.S.
Economic Report: U.S. first-time jobless claims rocket higher in latest
week
First-time jobless claims rocketed higher last week, adding to worries
that the U.S. economy may be stalling.
Big Japanese banks' subprime losses seen at $4.7 bln: report
SAN FRANCISCO
Japan's four biggest banks face 500 billion yen ($4.7 billion) in losses
associated with U.S. subprime mortgages in the current fiscal year
through March 31, according to a published report.
Dow industrials drop 100-plus points in first minute; Nasdaq down 1.5%
BULLETIN
Dow industrials drop 100-plus points in first minute; Nasdaq down 1.5%
1/31/2008 9:31:42 AM
Amazon, Starbucks, Google among big-name decliners as Nasdaq slumps
BULLETIN
Amazon, Starbucks, Google among big-name decliners as Nasdaq slumps
1/31/2008 9:43:21 AM
Markets January 31, 2008
Pre-open moves
A weaker start loomed as earnings and bond insurers held the spotlight,
overshadowing the Fed's latest rate cut. First-time jobless claims
rocketed higher by 69,000 in the latest week and real consumer spending
flattened in December, further evidence the economy was getting weaker
as the fourth quarter closed.
Bulletin: U.S. stocks futures turn sharply lower in wake of jobless claims data
BULLETIN
U.S. stocks futures turn sharply lower in wake of jobless claims data
1/31/2008 8:40:06 AM
Jobless claims surge 69,000, biggest jump since Katrina; spending, PCE as expected
BULLETIN
Jobless claims surge 69,000, biggest jump since Katrina; spending, PCE
as expected
1/31/2008 8:32:11 AM
Wednesday, January 30, 2008
Markets Wednesday, 01/30/2008
| Dow : 12442.83 down 37.47
| S & P : 1355.81 down 6.49
| NASDAQ: 2349.00 down 9.06
| Bond (10Y): 3.67%, 104.66
MARKETS:
Stocks erase gains
Wall Street ends lower, abandoning rally that followed Federal Reserve
decision to cut interest rates by a half-percentage point.
U.S. stocks close lower after rate-cut rally falls apart
U.S. stocks close lower after rate-cut rally falls apart
U.S. stocks crumble into the close, after earlier rallying in reaction
to the Federal Reserve's much-anticipated half-point rate cut, with
speculation that bond insurers Ambac Financial and MBIA Inc. faced
downgrades helping to fuel the late-session losses.
The Fed: Fed cuts rate by half a point to 3%, signals for more
The Federal Reserve lowers interest rates by half a percentage point and
signals that the door remains open for more cuts.
Edwards quits race for Democratic nomination
The field of presidential candidates is likely narrowing to two major
hopefuls for each party, with Democrat John Edwards reportedly dropping
out along with Republican Rudy Giuliani.
Societe Generale chief keeps job following $7.1 billion loss
LONDON
Daniel Bouton, the chairman and chief executive of troubled French bank
Societe Generale, will remain in his post after receiving the unanimous
backing of the board of directors on Wednesday.
Wal-Mart revamps apparel unit
Wal-Mart Stores Inc., in a bid to fix its lagging apparel division, said
it's restructuring the unit to make products more relevant and deliver
them to stores in a more timely fashion.
Oil prices retreat after stronger-than-expected crude, gasoline inventories.
Oil prices retreat after stronger-than-expected crude, gasoline
inventories.
U.S. economy grew at slower-than-expected 0.6% annual rate in fourth quarter, Dow Jones reports.
U.S. economy grew at slower-than-expected 0.6% annual rate in fourth
quarter, Dow Jones reports.
Tuesday, January 29, 2008
Yahoo will cut 1,000 jobs in February as the online media company continues to struggle in its search business.
Yahoo will cut 1,000 jobs in February as the online media company
continues to struggle in its search business.
Markets Tuesday, 01/29/2008
| Dow : 12480.30 up 96.41
| S & P : 1362.30 up 8.34
| NASDAQ: 2358.06 up 8.15
| Bond (10Y): 3.68%, 104.63
MARKETS:
Stocks rally Day 2
Dow and S&P lead the advance as Wall Street surges near the close. A
rise in durable-goods orders and anticipation about the Fed lift
equities.
Yahoo quarterly profit lower; shares fall
Yahoo quarterly profit lower; shares fall
Shares of Yahoo Inc. drop Tuesday evening after the online search firm
posts quarterly results.
U.S. stocks end solidly higher, fueled by rate-cut expectations
U.S. stocks close with solid gains on Tuesday on expectations of another
interest-rate cut on Wednesday from the Federal Open Market Committee.
Economic Report: Home prices fall record 2.1% in November
WASHINGTON
The decline in U.S. home values accelerated in November, with prices
falling for the third month in a row in all 20 cities tracked by the
Case-Shiller home price index released Tuesday by Standard & Poor's.
SocGen chief remains under pressure after $7 bln loss
Societe Generale chief Daniel Bouton may face a tough task holding onto
his job at a board meeting later in the week after the bank's
reputation took a further blow over its $7 billion loss.
AirTran could profit from a Northwest-Delta merger
AirTran Holdings Inc. would likely benefit from a Northwest-Delta
merger, which would trim excess domestic capacity, reduce competition
and open up time slots to some of the nation's busiest airports, the
low-cost carrier's chief financial officer said on Tuesday.
Midday Report: U.S. stocks mostly higher on strong data, rate-cut hopes
U.S. stocks mostly higher on strong data, rate-cut hopes
U.S. stocks were mostly higher Tuesday after a surprisingly strong rise
in December durable-goods orders, and as investors anticipated another
interest-rate cut from the Federal Open Market Committee.
Economic Report: Durable-goods orders surge 5.2% in December
Orders for durable goods rose 5.2% in December, led by aircraft and
defense capital goods, the Commerce Department reported Tuesday.
Economic Report: Home prices fall record 2.1% in November
WASHINGTON
The decline in U.S. home values accelerated in November, with prices
falling for the third month in a row in all 20 cities tracked by the
Case-Shiller home price index released Tuesday by Standard & Poor's.
Countrywide posts quarterly loss as loan production plummets
BOSTON
Countrywide Financial Corp., the troubled mortgage lender that's in a
deal to be acquired by Bank of America Corp., reported Tuesday a sizable
fourth-quarter loss as loan production fell sharply toward the end of
2007.
SocGen chief remains under pressure after $7 bln loss
Societe Generale chief Daniel Bouton may face a tough task holding onto
his job at a board meeting later in the week after the bank's
reputation took a further blow over its $7 billion loss.
Consumer confidence index drops in January, Dow Jones reports, but decline is less than forecast.
Consumer confidence index drops in January, Dow
Jones reports, but decline is less than forecast.
_________________________
Date: Tue, 29 Jan 2008 10:09:04 -0500
Census Bureau: Biggest annual drop in home ownership in four decades.
Durable goods orders rise 5.2% in December, well above forecasts and the biggest gain in 5 months, AP reports.
Durable goods orders rise 5.2% in December, well above forecasts and the
biggest gain in 5 months, AP reports.
Monday, January 28, 2008
Markets Monday, 01/28/2008
| Dow : 12383.89 up 176.72
| S & P : 1353.96 up 23.35
| NASDAQ: 2349.91 up 23.71
| Bond (10Y): 3.58%, 105.47
MARKETS:
Stocks pull off late rally
Wall Street redoubles its rally effort at the end of a choppy session as
investors eye a drop in the Dec. new home sales and gear up for the next
Fed meeting.
Half-point cut most likely: former Fed staffer
Half-point cut most likely: former Fed staffer
WASHINGTON
The Federal Open Market Committee is likely to cut rates again by a
half-point on Wednesday, according to former top Fed staffer Vincent
Reinhart.
Market Snapshot: U.S. stocks end near session highs as investors bet on
Fed cut
U.S. stocks closed near session highs on Monday, with financials
fronting the climb, after bleak figures on the battered housing market
further fueled hopes for another interest-rate cut by the Federal
Reserve later this week.
Telecom Report: AT&T, Verizon not deterred by economy
For AT&T and Verizon, business is pretty good and a slowing U.S. economy
isn't giving executives any ulcers, at least not yet.
Countrywide's Mozilo to give up $37.5 million severance
Countrywide Financial said on Monday that Chief Executive Angelo Mozilo,
a lightening rod for criticism over the subprime-lending meltdown, is
giving up a $37.5 million severance package.
Nymex Holdings, CME talk over a possible merger; shares gain
NEW YORK
Nymex Holdings Inc. and CME Group Inc. confirmed Monday that that the
two companies are holding preliminary talks about a potential merger
that could eventually be worth as much as $11.07 billion.
U.S. stocks gain momentum in strong close, with investors betting on a Fed cut
BULLETIN
U.S. stocks gain momentum in strong close, with investors betting on a
Fed cut
1/28/2008 4:04:14 PM
Bulletin: Sales of new U.S. homes decline nearly 5% in December, despite builders' incentives
BULLETIN
Sales of new U.S. homes decline nearly 5% in December, despite builders'
incentives
1/28/2008 10:02:56 AM
Global markets January 28, 2008
Global markets
Financials faltered yet again in Europe. Asian markets sold off sharply.
Shares in Shanghai lost 7% and Japan's Nikkei gave up 4%.
