Friday, February 08, 2008
Markets Friday, 2/8/2008
| Dow : 12182.13 down 64.87
| S & P : 1331.29 down 5.62
| NASDAQ: 2304.85 up 11.82
| Bond (10Y): 3.64%, 98.81
MARKETS:
Tough week on Wall Street
A rough week for investors ends with mixed results as the Dow continues
to fall on credit market woes and the Nasdaq manages slim gains thanks
to Amazon.com.
No obstacles seen in way of more Fed rate cuts
No obstacles seen in way of more Fed rate cuts
WASHINGTON
Nothing is standing in the way of further interest rate cuts by the
Federal Reserve Board, Fed watchers said Friday.
Market Snapshot: U.S. stocks end with weekly declines as commodities
soar
U.S. stocks skid to weekly losses as the price of oil and other
commodities soared, sparking concern about inflation and an already
slowing economy.
Outside the Box: Microsoft has to sidestep many landmines in Yahoo deal
History suggests that Microsoft Corp.'s acquisition of Yahoo Inc.
would be a killer flop, unless Microsoft can sidestep landmines that
have destroyed similar deals.
G7 expected to focus on regulation rather than stimulus
Turbulent financial markets, a potential U.S. recession and fears of a
widening credit crunch will give finance ministers and central bankers
from the Group of Seven industrial nations plenty to talk about when
they meet Saturday in Tokyo.
Stocks end lower Friday. Early optimism on news of a big buyback from Amazon is overtaken by inflation fear.
Stocks end lower Friday. Early optimism on news of a big buyback from
Amazon is overtaken by inflation fear.
U.S. stocks rise as Amazon.com's buyback plan lifts Nasdaq
U.S. stocks rise as Amazon.com's buyback plan lifts Nasdaq
U.S. stocks turn mildly higher, led by the recently beat-up technology
sector, which was lifted in part by online retailer Amazon.com Inc.'s
buyback plan.
G7 expected to focus on regulation rather than stimulus
Turbulent financial markets, a potential U.S. recession and fears of a
widening credit crunch will give finance ministers and central bankers
from the Group of Seven industrial nations plenty to talk about when
they meet Saturday in Tokyo.
MBIA's shares gain as $1 billion share offering is priced
Troubled bond insurer MBIA Inc. increased by 33% its planned
common-stock offering to $1 billion, pricing the shares to be sold at
$12.15 each. The pricing, announced late Thursday, sent MBIA's shares
down more than 10% in pre-open trading Friday on dilution fears, but
they clawed back into the black as analysts suggested the move could
help the company keep a top-of-line credit rating.
Thursday, February 07, 2008
MarketsThursday, 02/7/2008
| Dow : 12247.00 up 46.90
| S & P : 1336.91 up 10.46
| NASDAQ: 2293.03 up 14.28
| Bond (10Y): 3.77%, 97.75
MARKETS:
Stocks rally, breaking losing streak
Wall Street ends a choppy session higher as investors fight back after a
3-session losing streak.
U.S. stocks snap three-session losing streak
U.S. stocks close higher for the first time this week after bargain
hunters repeal earlier declines fueled by anemic retail sales and Cisco
Systems Inc.'s disappointing forecast.
Conservatives grudgingly hear McCain's message
WASHINGTON
John McCain may look, talk and act conservative. But is he conservative
enough for, well, conservatives?
Clock is ticking on Yahoo's board
The board of directors of Yahoo Inc. may not be facing a formal deadline
to decide on Microsoft Corp.'s buyout offer -- but the group still has a
limited window of time to work with.
S&P plans changes to ratings; Cuomo calls it 'window dressing'
Standard & Poor proposes changing the way it comes up with ratings on
Thursday after the mortgage crisis exposed flaws in the current system.
Rivals Moody's Investors Service and Fitch Ratings unveiled similar
plans this week.
Microsoft, Yahoo bankers eye $1 billion payday
Many Yahoo shareholders stand to make a nice chunk of change from a
proposed buyout by Microsoft, but the companies' bankers may be the
real winners, divvying up more than a $1 billion and burnishing
reputations by playing in the biggest game in town.
Stocks inch higher in a fight between bulls and bears as Wall Street narrowly dodges a fourth-straight losing day.
Stocks inch higher in a fight between bulls and bears as Wall Street
narrowly dodges a fourth-straight losing day.
Bank of England cuts key rate a quarter-point to 5.25% as 'global disruptions' continue
BULLETIN »
Bank of England cuts key rate a quarter-point to 5.25% as 'global
disruptions' continue
2/7/2008 7:03:14 AM
U.S. stocks try to shake off losses after three days of declines
U.S. stocks try to shake off losses after three days of declines
U.S. stocks extend losses into a fourth day, with Wal-Mart and other
retailers reporting anemic sales and Cisco Systems' cautious outlook
advancing the view of an economic slowdown.
Cisco shares take another hit on disappointing forecast
Cisco Systems Inc. sees its already depressed stock take another hit
Thursday morning after the networking giant issued a disappointing sales
forecast for the current quarter, citing worries about the slowing
economy.
January retail-sales numbers worse than grim forecasts
With few exceptions, it is a miserable start to 2008 for U.S. retailers:
Many of the biggest names in the sector on Thursday posted January sales
numbers that were even worse than already-grim Wall Street forecasts.
MBIA selling new shares to raise $750 mln; bolsters loss reserves
MBIA Inc. says it plans to raise $750 million selling new shares to prop
up its struggling bond insurance business.
Economic Report: U.S. initial jobless claims reverse course, off 22,000
WASHINGTON
Initial jobless claims dropped in the week ended Feb. 2, reversing
course after rocketing higher a week earlier -- a spike that added to
concerns about the nation's economy.
Wal-Mart's January sales come in soft; full-year sales pegged at $375 billion
BULLETIN
Wal-Mart's January sales come in soft; full-year sales pegged at $375
billion
2/7/2008 7:34:51 AM
U.S. initial jobless claims trend modestly lower, off 22,000, in latest week
BULLETIN
U.S. initial jobless claims trend modestly lower, off 22,000, in latest
week
2/7/2008 8:31:43 AM
Home sales and prices expected to fall in 2008 - second straight year of declines, Realtors say.
Home sales and prices expected to fall in 2008 - second straight year of
declines, Realtors say.
BULLETIN
U.S. mortgage rates inching lower in February
2/7/2008 10:12:26 AM
Wednesday, February 06, 2008
Markets Wednesday, 02/6/2008
| Dow : 12200.10 down 65.03
| S & P : 1326.45 down 10.19
| NASDAQ: 2278.75 down 30.82
| Bond (10Y): 3.60%, 105.22
MARKETS:
Inflation talk spooks markets
Major indexes turn negative after rallying early in the session. Fed
official's remarks, Macy's woes overshadow upbeat productivity report.
Cisco meets expectations for January quarter
Cisco meets expectations for January quarter
Cisco Systems Inc. reports that earnings grew more than 10% for the
January quarter, meeting Wall Street's estimates.
Macy's takes new stab at jumping sales
CHICAGO
Macy's Inc., struggling to shore up sales and profits, said Wednesday it
will cut some 2,550 jobs as part of a widespread reorganization aimed at
trimming as much as $100 million in costs and consolidating regional
divisions.
Could Yahoo thwart Microsoft by outsourcing search?
Faced with Microsoft's $44.6 billion "bear hug" offer, Yahoo may
be considering a move to hand control of its troubled search-advertising
business to Google.
The Fed: Plosser warns against 'damn the torpedoes' rate policy
An overly aggressive rate-easing campaign by the Federal Reserve would
only fuel higher inflation down the road, Fed President Charles Plosser
says.
Outside the Box: Brokered Democratic convention would be a party
headache
With the fight for the Democratic nomination still unresolved, more talk
is circulating about the possibility that the contest could continue to
the convention this August.
Wall Street, after staying above water most of the day, sinks after a Fed governor makes cautionary remarks on inflation.
Wall Street, after staying above water most of the day, sinks after a
Fed governor makes cautionary remarks on inflation.
U.S. stocks rebound after Tuesday's steep decline
U.S. stocks rebound after Tuesday's steep decline
U.S. stocks are trading slightly higher, bouncing back from the
market's largest plunge in nearly a year, after the government says
productivity grew more than expected and Walt Disney Co.'s earnings
surpass estimates.
Yahoo CEO says no decision yet on Microsoft bid
SAN FRANCISCO
Yahoo Inc.'s board has yet to decide on Microsoft Corp.'s $44.6 billion
bid, but the directors are "evaluating a wide range of potential
strategic alternatives in what is a complex and evolving landscape," CEO
Jerry Yang told employees Wednesday.
Super Tuesday's outcome leaves questions unanswered
Disney profit drops on year-ago gain, but tops estimates
Walt Disney Co.'s first-quarter profit falls 27% compared with a year
ago, which includes a gain from sales of its interests in E!
Entertainment and Us Weekly, but its latest results easily surpass most
analysts' expectations.
Time Warner's fourth-quarter net profit drops 41%
Time Warner's fourth-quarter net income fell 41% in the face of the
media and entertainment giant generating modestly higher revenue,
financial results showed Wednesday. The results marked the first for
Time Warner since Jeff Bewkes took over from Dick Parsons as CEO.
Fourth-quarter net income was $1.03 billion, or 28 cents a share, down
from $1.75 billion, or 44 cents, earned in the final three months of
2006. Both adjusted profit and revenue were on the mark or nearly so for
the latest quarter, according to the consensus of estimates compiled by
Thomson Financial.
Oil prices retreat after big increase in crude inventories.
Oil prices retreat after big increase in crude inventories.
Productivity rose a more-than-expected 1.8% in the fourth quarter, Dow Jones reports.
Productivity rose a more-than-expected 1.8% in the fourth quarter, Dow
Jones reports.
Asian markets plunge; Nikkei closes down 4.7%, Hong Kong's Hang Seng ends 5.4% lower
BULLETIN »
Asian markets plunge; Nikkei closes down 4.7%, Hong Kong's Hang Seng
ends 5.4% lower
2/6/2008 1:12:06 AM
Tuesday, February 05, 2008
Markets Tuesday, 02/5/2008
| Dow : 12265.13 down 370.03
| S & P : 1336.64 down 44.18
| NASDAQ: 2309.57 down 73.28
| Bond (10Y): 3.57%, 105.53
MARKETS:
Wall Street's worst day in 3 months
Stocks tank after an economic report and comments from a Fed official
amplify recession panic. Dow loses 370 points
Stocks tumble as data signal recession
Stocks tumble as data signal recession
Stocks plunge, with the Dow industrials tumbling to their biggest drop
in nearly a year, after a key service sector gauge contracted in January
-- possibly signaling that the U.S. economy is already in recession.
Rex Nutting: The audacity of identity politics
Labeling voters with one word, pretending that it fully describes them,
is not only lazy, but dangerous. It can force people who might have many
things in common to think only of their differences.
Voters go to the polls on high-stakes Super Tuesday
WASHINGTON
Americans were casting votes in 24 separate primaries and caucuses on
Tuesday as the race for the Democratic nomination looked extremely tight
and Sen. John McCain held an edge in the Republican contest.
Economic Report: U.S. ISM services-sector index plunges in January
The non-manufacturing side of the U.S. economy, which had been the
firmest pillar of the economic expansion, buckles in January, new data
show. The ISM non-manufacturing index fell to a reading of 41.9% last
month, down from 54.4% in December. It was the lowest level since
October 2001. Readings below 50% indicate most firms are contracting.
Economists called it the clearest signal to date of a recession.
Apple increases memory for iPhone, iPod touch
Apple has expanded its iPhone and iPod touch product lines by adding new
devices that double the memory of the previous models.
Dow drops more than 360 points for worst one-day point loss of 2008 as weak service sector report spooks recession-wary investors.
Dow drops more than 360 points for worst one-day point loss of 2008 as
weak service sector report spooks recession-wary investors.
Stocks get pummeled by economic fears as the Dow falls 300 points in afternoon trading.
Stocks get pummeled by economic fears as the Dow falls 300 points in
afternoon trading.
Stocks slide as service-sector data signal contraction
Stocks slide as service-sector data signal contraction
U.S. stocks trade sharply lower after the release of service-sector data
signaled contraction in January.
BP boosts dividend as weak refining performance hits profit
Oil giant BP reports weaker-than-expected earnings due to a "very
disappointing" performance from its refining business, though a sharp
increase in dividend payouts helps boost its shares.
Metals Stocks: Gold futures drop sharply on dollar strength
Gold futures drop sharply to trading below $900 an ounce, as a surge in
the U.S. dollar lowered investment demand for the precious metal.
Obama surge heightens Super Tuesday drama
WASHINGTON
An eleventh-hour surge in polls by Sen. Barack Obama over Sen. Hillary
Clinton is shaping up to make "Super Duper Tuesday" a dramatic showdown
between the contenders for the Democratic nomination, while John McCain
is handily leading his Republican rivals in a survey taken before the
24-state contest.
Australia raises interest rate to an 11-year high
The Reserve Bank of Australia raises its benchmark interest rate by a
quarter-percentage point to 7%, the highest level in more than 11 years,
to curb "significant inflation pressures," and keeps alive expectations
of further rate hikes in months ahead.
Dow industrials fall more than 200 points early Tuesday
BULLETIN
Dow industrials fall more than 200 points early Tuesday
2/5/2008 9:46:35 AM
Supplier managers' services gauge for January shows major decline
BULLETIN
Supplier managers' services gauge for January shows major decline
2/5/2008 8:57:11 AM
Monday, February 04, 2008
Markets Monday, 02/4/2008
| Dow : 12635.16 down 108.03
| S & P : 1380.82 down 14.60
| NASDAQ: 2382.85 down 30.51
| Bond (10Y): 3.64%, 104.91
MARKETS:
Wall Street: After the rally, a retreat
Following a big advance last week, investors take a step back on
weakness in the financial sector and worries about the economy.
Microsoft's move for Yahoo is in focus too.
President Bush proposes $3.11 trillion spending in final budget
President Bush proposes $3.11 trillion spending in
WASHINGTON
President Bush on Monday sent Congress a record $3.11 trillion budget
request that sees the federal deficit widening over the next two years
but projects a balanced budget by 2012.
Market Snapshot: Stocks take a breather after strong gains, financials
falter
U.S. stocks finish down Monday, with investors scaling back positions
after strong gains in four of the previous five sessions, with financial
stocks weak on back of several broker downgrades.
Major carriers seen as likely to imitate United's luggage fees
NEW YORK
Starting next spring, United Airlines will begin charging certain
domestic passengers for more than one piece of checked-in luggage to
help offset the soaring cost of jet fuel, the No. 2 U.S. carrier said
Monday.
Election Notebook: Economic worries at the top of most voters' minds,
poll finds
WASHINGTON
Worries about the economy are topping Americans' minds as the Republican
and Democratic presidential nominees head into crucial primaries or
caucuses scheduled to take place in 24 states Tuesday, a new poll
found.
Google blasts a Microsoft-Yahoo deal as hindering competition
Google Inc. attacks Microsoft Corp.'s bid to acquire Yahoo Inc. as an
attempt to extend its software monopoly to the Internet turf, drawing a
quick retort from Microsoft that the market would benefit from its
proposed merger.
U.S. factory orders higher in December
BULLETIN
U.S. factory orders higher in December
2/4/2008 10:02:40 AM
U.S. stocks dip after last week's gains
U.S. stocks dip after last week's gains
U.S. stocks edge lower at the open Monday, with investors scaling back
positions after strong gains in four of the previous five sessions,
while several broker downgrades weigh on financial stocks.
Google blasts a Microsoft-Yahoo deal as hindering competition
Google attacks Microsoft's bid to acquire Yahoo as an attempt to extend
its software monopoly to the Internet turf, drawing a quick retort from
Microsoft that the market would benefit from its proposed merger.
Economic Report: Layoff announcements jump 69% in January
WASHINGTON
A fresh surge in financial-sector layoffs contributed to a 69% increase
in corporate job-cut announcements in January, according to the latest
tally compiled by outplacement firm Challenger Gray & Christmas released
Monday.
Asia Markets: Shanghai rebounds strongly, leading regional market rally
Shanghai-listed shares rebound strongly to lead a regionwide rally,
after the Chinese market regulator approved the launch of two new stock
funds for the first time in several months.
