Saturday, March 08, 2008
News Alert! Barack Obama Claims Another Win In Wyoming Caucuses
Senator Barack Obama is the winner of the Wyoming Democratic caucuses.
Friday, March 07, 2008
Markets Friday, 03/7/2008
| Dow : 11893.69 down 146.70
| S & P : 1293.37 down 10.97
| NASDAQ: 2212.49 down 8.01
| Bond (10Y): 3.53%, 99.75
MARKETS:
Stocks hit lowest levels in over a year
Wall Street tumbles to 2006 levels as investors eye the biggest job
losses in 5 years and more financial sector problems.
Payrolls fall by 63,000 in February, suggesting recession
Payrolls fall by 63,000 in February, suggesting recession
In the clearest suggestion yet of a recession, U.S. nonfarm payrolls
fall by 63,000 in February, the second straight decline in employment.
The Fed: Fed takes new steps to add cash to U.S. banking system
The Federal Reserve announces two new steps to add cash to the banking
system.
The Fed: Yellen expects inflation to moderate
WASHINGTON
Inflation in the United States, while disappointing at the moment, is
likely to moderate, San Francisco Fed president Janet Yellen said
Friday.
Ambac raises $1.5 billion, but shares slide on dilution concerns
Ambac Financial raises $1.5 billion selling stock and convertible
securities to protect its crucial triple-A rating. But shares fall for a
third straight day after the struggling bond insurer has to sell more
new stock than expected, diluting existing investors further.
Top economic adviser to President Bush says economy could contract in current quarter, AP reports.
Top economic adviser to President Bush says economy could contract in
current quarter, AP reports.
Oil prices hit record high of $106.42 a barrel, fueling recession fears.
Oil prices hit record high of $106.42 a barrel, fueling recession fears.
U.S. stocks mostly down as Fed moves compete with jobs data
U.S. stocks mostly down as Fed moves compete with jobs data
U.S. stocks are mostly lower, with the Dow industrials just below the
key psychological level of 12,000, as Federal Reserve moves to stem the
credit crunch help offset job losses viewed as the most blatant sign yet
of recession.
Economic Report: Payrolls fall by 63,000 in February, suggesting
recession
In the clearest suggestion yet of a recession, U.S. nonfarm payrolls
fall by 63,000 in February, the second straight decline in employment.
The Fed: Fed takes new steps to add cash to banking system
The Federal Reserve announces two new steps to add cash to the banking
system.
The Fed: Yellen expects inflation to moderate
WASHINGTON
Inflation in the United States, while disappointing at the moment, is
likely to moderate, San Francisco Fed president Janet Yellen said
Friday.
Ambac raises $1.5 billion; CEO says demise 'exaggerated'
Bond insurer Ambac Financial raises $1.5 billion by selling stock and
convertible bonds, a move designed to preserve its credit rating against
a rising tide of claims.
Breaking News: Jobs plunge by 63,000, worst since 2003
WASHINGTON (AP) - Employers slashed jobs by 63,000 in February, the most
in five
years, the starkest sign yet the country is heading dangerously toward
recession
or is in one already.
Thursday, March 06, 2008
U.S. stocks slide as credit woes spread
U.S. stocks slide as credit woes spread
U.S. stocks close lower for a fifth session in six, falling sharply on
on more bleak news from the financial sector, including word of a
default at mortgage lender Thornburg Mortgage and news Merrill Lynch &
Co. is opting out of the subprime mortgage market.
De-leveraging rolls across markets, hitting 'safer' mortgages
The de-leveraging of the financial system picked up steam and entered
new markets Thursday as more big investors were hit by margin calls.
Apple's iPhone 'push' challenges RIM's BlackBerry
Apple Inc. says its popular iPhone device will have so-called "push"
email and other features designed to help it compete directly with
Research In Motion Ltd.'s BlackBerry for business customers.
Futures Movers: Crude futures close above $105 a barrel for first time
Crude-oil futures close above $105 a barrel for the first time, after
hitting a record high of $105.97 earlier in the session.
Economic Report: Americans poorer than a year ago, Fed says
Considering the impact of higher prices, a bigger debt burden and
sagging home prices, Americans were poorer at the end of 2007 than they
were the year before.
Markets Briefing Newsletter for Thursday, 03/6/2008
| Dow : 12040.39 down 214.60
| S & P : 1304.34 down 29.36
| NASDAQ: 2220.50 down 52.31
| Bond (10Y): 3.58%, 99.28
MARKETS:
Credit market woes hit stocks
Wall Street tumbles while bonds rally after news of more bank troubles
and a surge in foreclosures. Falling dollar sends oil to all-time high.
U.S. stocks slide as credid woes spread
U.S. stocks slide as credid woes spread
U.S. stocks close lower for a fifth session in six, falling sharply on
on more bleak news from the financial sector, including word of a
default at mortgage lender Thornburg Mortgage and news Merrill Lynch &
Co. is opting out of the subprime mortgage market.
De-leveraging rolls across markets, hitting 'safer' mortgages
The de-leveraging of the financial system picked up steam and entered
new markets Thursday as more big investors were hit by margin calls.
Apple's iPhone 'push' challenges RIM's BlackBerry
Apple Inc. says its popular iPhone device will have so-called "push"
email and other features designed to help it compete directly with
Research In Motion Ltd.'s BlackBerry for business customers.
Futures Movers: Crude futures close above $105 a barrel for first time
Crude-oil futures close above $105 a barrel for the first time, after
hitting a record high of $105.97 earlier in the session.
Economic Report: Americans poorer than a year ago, Fed says
Considering the impact of higher prices, a bigger debt burden and
sagging home prices, Americans were poorer at the end of 2007 than they
were the year before.
Oil surges 95 cents to settle at a record $105.47 a barrel as the dollar falls to new lows against the euro.
Oil surges 95 cents to settle at a record $105.47 a barrel as the dollar
falls to new lows against the euro.
U.S. stocks drop as financials weigh
U.S. stocks drop as financials weigh
U.S. stocks head south on further bleak news from the financial sector,
including word of a default at mortgage lender Thornburg Mortgage.
Subprime Today: Carlyle affiliate fails to make margin payments
NEW YORK
Welcome to our daily roundup of subprime- and credit-crunch-related news
from MarketWatch.
Economic Report: Pending home sales index flat in January
In a sign that home sales may be stabilizing, an index of sales
contracts on previously owned U.S. homes was flat in January, though it
was down almost 20% from the prior year.
UBS may have dumped $24 billion Alt-A portfolio, analyst says
UBS may have sold a portfolio of Alt-A securities worth 25 billion Swiss
francs ($24.1 billion), according to an analyst at J.P. Morgan.
Better-than-expected sales offer retailers some hope
U.S. retailers reported better-than-expected February sales, offering
some hope that consumers may still have more spending power to put into
the economy.
U.S. foreclosures hit record high; mortgage delinquencies at 23-year peak
U.S. foreclosures hit record high; mortgage delinquencies at 23-year
peak
3/6/2008 10:00:40 AM
Wal-Mart's U.S. same-store sales, excluding fuel, rise 2.6% in February, above expectations.
Wal-Mart's U.S. same-store sales, excluding fuel, rise 2.6% in
February, above expectations.
Divergence in U.S. jobless claims; continuing claims highest since September 2005
Divergence in U.S. jobless claims; continuing claims highest since
September 2005
3/6/2008 8:32:09 AM
Wednesday, March 05, 2008
Market Briefing Newsletter for Wednesday, 03/5/2008
| Dow : 12254.99 up 41.19
| S & P : 1333.70 up 6.95
| NASDAQ: 2272.81 up 12.53
| Bond (10Y): 3.69%, 98.41
MARKETS:
Stocks struggle higher
Wall Street pulls it together after sliding on a weak beige book and
Ambac's restructuring news.
U.S. stocks close with gains; Dow up first day in five
U.S. stocks close with gains; Dow up first day in five
U.S. stocks find their footing late with the Dow industrials gaining for
the first time in five days as investors get past news Ambac will sell
$1.5 billion in stock and equity to keep its AAA rating.
Ambac to raise $1.5 billion selling common stock, equity units
Ambac Financial says it plans to raise at least $1.5 billion selling new
common stock and equity units as the troubled bond insurer tries to keep
its crucial AAA rating.
Citigroup CEO says bank is 'financially sound'
The chief executive of Citigroup attempts to allay investor fears a day
after the stock hit a multiyear low, telling colleagues in an internal
memo that the bank is financially sound.
Dealmaking sweeps U.S. beef market
SAN FRANCISCO
Ownership of U.S. meat producers is taking on a foreign flavor. The
beneficiary: A top-producing meatpacker in Brazil called JBS S.A.
Stocks end in the black, but well off early highs, after investors recoil from grim economic reports and bad news from Ambac.
Stocks end in the black, but well off early highs, after investors
recoil from grim economic reports and bad news from Ambac.
U.S. stocks extend early gains after higher reading in ISM data
U.S. stocks extend early gains after higher reading in ISM data
U.S. stocks move higher with early optimism about the technology sector
only slightly dampened by rising oil prices and data pointing to
climbing labor costs and 23,000 job losses in the private sector last
month.
OPEC leaves oil production unchanged
Ministers of the Organization of Petroleum Exporting Countries,
convening in Vienna as oil prices stubbornly hold above $100 a barrel,
decided Wednesday to leave the group's production levels unchanged.
Futures Movers: Crude rallies to new high of $103.98 as inventories
fall
Crude-oil futures surge nearly 3% to trade above $102 a barrel Wednesday
after data showed U.S. crude inventories fell unexpectedly and after the
Organization of Petroleum Exporting Countries decided to keep its
production levels unchanged.
Economic Report: Private-sector sheds 23,000 jobs in February, survey
shows
WASHINGTON
The nation's private-sector employment rolls dropped by 23,000 net jobs
in February, according to the ADP employment index released Wednesday.
Costco profit surges 31%; February sales up 7%
Costco Wholesale Corp., the largest U.S. wholesale club, said its
quarterly quarter jumped 31%, boosted by international demand and U.S.
sales of gasoline.
Oil prices hit new record, surging to $103.98, following surprising inventory decline.
Oil prices hit new record, surging to $103.98, following surprising
inventory decline.
Nation's services sector rebounded more than expected in February but was still contracting.
Nation's services sector rebounded more than expected in February but
was still contracting.
Dow industrials up by triple digits, bidding to halt four-session losing streak
Dow industrials up by triple digits, bidding to halt four-session losing
streak
3/5/2008 10:02:35 AM
February private sector jobs down 23,000, according to ADP report, in another sign of economic weakness.
February private sector jobs down 23,000, according to ADP report, in
another sign of economic weakness.
Tuesday, March 04, 2008
Markets Tuesday, 03/4/2008
| Dow : 12213.80 down 45.10
| S & P : 1326.75 down 4.59
| NASDAQ: 2260.28 up 1.68
| Bond (10Y): 3.61%, 99.03
MARKETS:
Stocks cut losses
Wall Street stabilizes at the end of a tough session in which Bernanke
and other Fed officials warn about the economy; Intel and Citigroup get
hit.
Ambac rallies as speculation resurfaces about recapitalization
Ambac rallies as speculation resurfaces about recapitalization
Ambac Financial Group shares rally as speculation resurfaces about a
recapitalization of the struggling bond insurer.
Does bad news for Intel mean bad news for tech?
Intel is such a dominant player in the technology market that any sign
of trouble at the chip behemoth eventually sends jitters throughout the
entire sector. So it was not surprising that both Intel stock and the
Nasdaq Composite Index lost ground in Tuesday's trading session. Some
analysts believe it's an overreaction.
Apple sticks by iPhone goal; shareholders OK pay measure
Apple sticks to its goal of selling 10 million iPhones by the end of the
year, despite a growing belief by analysts that this will be a stretch
in a slowing economy.
Housing in 'deepest, most rapid' decline since Great Depression
Housing is in its "deepest, most rapid downswing since the Great
Depression," the chief economist for the National Association of Home
Builders said Wednesday, and the downward momentum appears to be
accelerating.
The Ratings Game: Merrill cuts Citi profit outlook on more expected
charges
BOSTON
Merrill Lynch lowered its fiscal 2008 earnings outlook for Citigroup
Inc. again on Tuesday on expectations the Wall Street giant will be
forced to take more big write-downs as credit markets worsen.
Dallas Fed president: Inflation is the key worry, not recession.
Dallas Fed president: Inflation is the key worry, not recession.
U.S. stocks decline for a 4th day amid Fed foreclosure talk
U.S. stocks decline for a 4th day amid Fed foreclosure talk
NEW YORK
U.S. stocks on Tuesday extended losses into a fourth session after
Federal Reserve Chairman Ben Bernanke said he expected more home
foreclosures and Intel Corp. reduced its outlook, with both serving as
reminders of a sputtering economy.
The Ratings Game: Merrill cuts Citi profit outlook on more expected
charges
BOSTON
Merrill Lynch lowered its fiscal 2008 earnings outlook for Citigroup
Inc. again on Tuesday on expectations the Wall Street giant will be
forced to take more big write-downs as credit markets worsen.
Intel shares bruised as chip heavyweight lowers margin forecast
Intel lowers gross-margin outlook for its first quarter due to
lower-than-expected prices for NAND flash-memory chips.
Tense Tuesday gets underway for Clinton, Obama
WASHINGTON
By the end of Tuesday, Democrats should have a good idea whether a
couple of late-night comedy appearances, questions about her opponent's
viability and relentless campaigning in Ohio and Texas will help Sen.
Hillary Clinton turn back the tsunami that is Sen. Barack Obama's
campaign for the presidential nomination.
The Fed: Creativity needed to limit foreclosures: Bernanke
The mortgage and financial-services industry will have to use fresh
thinking to reduce preventable foreclosures, said Federal Reserve Board
Chairman Ben Bernanke.
Monday, March 03, 2008
Still not excessive bullishness among gold timers
Still not excessive bullishness among gold timers
Sentiment developments in the gold market are getting curiouser and
curiouser, as Alice in Wonderland might say.
Election Notebook: Obama and Clinton 'too close to call' in Ohio, Texas
races: poll
Sens. Hillary Clinton and Barack Obama are running neck and neck in Ohio
and Texas in a new poll, just a day before voters in those states go to
the ballot boxes in the next big presidential nomination contests.
Economic Report: Manufacturing index shows contraction in February
The U.S. manufacturing sector contracts in February, the Institute for
Supply Management reports.
E-Trade names Layton as CEO; shares rise on deal speculation
E-Trade Financial Corp. taps Donald Layton to take over as chief
executive of the beleaguered online brokerage.
Markets Monday, 03/3/2008
| Dow : 12258.90 down 7.49
| S & P : 1331.34 up 0.71
| NASDAQ: 2258.60 down 12.88
| Bond (10Y): 3.55%, 99.56
MARKETS:
Stocks cut losses after choppy session
Major indexes turn negative as economic jitters weigh on investors. Oil
prices touch an all-time record; Gold, other commodities surge.
U.S. stocks struggle as gold and oil hit news highs
U.S. stocks struggle as gold and oil hit news highs
U.S. stocks fall after weak manufacturing data and record runs in oil
and gold. See full story.
Election Notebook: Obama and Clinton 'too close to call' in Ohio, Texas
races: poll
Sens. Hillary Clinton and Barack Obama are running neck and neck in Ohio
and Texas in a new poll, just a day before voters in those states go to
the ballot boxes in the next big presidential nomination contests.
Economic Report: Manufacturing index shows contraction in February
The U.S. manufacturing sector contracts in February, the Institute for
Supply Management reports.
E-Trade shares rise after Layton named CEO
E-Trade Financial Corp. taps Donald Layton to take over as chief
executive of the beleaguered online brokerage.
ISM manufacturing index falls more than expected in February, signaling contraction in the sector.
ISM manufacturing index falls more than expected in February, signaling
contraction in the sector.
Gold notches all-time high at $991 an ounce; crude oil hits record $103.51 a barrel
Gold notches all-time high at $991 an ounce; crude oil hits record
$103.51 a barrel
3/3/2008 9:50:31 AM
