Friday, May 23, 2008
Markets Friday, 05/23/2008
| Dow : 12479.63 down 145.99
| S & P : 1375.93 down 18.42
| NASDAQ: 2444.67 down 19.91
| Bond (10Y): 3.87%, 99.97
MARKETS:
Stocks tank on day, week
Wall Street suffers as higher oil prices and another weak housing market
report give investors a reason to retreat ahead of the three-day holiday
weekend.
Markets Friday, 05/23/2008
| Dow : 12479.63 down 145.99
| S & P : 1375.93 down 18.42
| NASDAQ: 2444.67 down 19.91
| Bond (10Y): 3.87%, 99.97
MARKETS:
Stocks tank on day, week
Wall Street suffers as higher oil prices and another weak housing market
report give investors a reason to retreat ahead of the three-day holiday
weekend.
U.S. stocks end week sharply lower as oil surges
U.S. stocks end week sharply lower as oil surges
U.S. stocks finish with losses for the day and tumble sharply on the
week, as crude oil surges above $130 a barrel, putting pressure on a
market beseiged by worries that inflation will crimp consumpation and
further weaken the economy.
Futures Movers: Natural-gas futures near $12, close with an almost 7%
weekly gain
Natural-gas futures climb closer to $12 per million British thermal
units Friday, as concerns about the potential for disrupted output
during the Atlantic hurricane season feed a rally that lifted prices for
the commodity by almost 7% for the week.
Telecom Report: AT&T, Verizon bet they'll catch Sprint in 4-G wireless
race
"My network's better than your network." So goes the playground-like
argument that's raging in the telecom industry's fierce competition for
customers in "fourth-generation" wireless service.
Anheuser-Busch shares bounce on report of takeover bid
Shares of Anheuser-Busch pop after a published report says the brewer
could be the target of a takeover attempt by rival InBev.
Stocks end lower following a weak housing report and rebounding oil. Trading was thin ahead of the Memorial Day weekend.
Stocks end lower following a weak housing report and rebounding oil.
Trading was thin ahead of the Memorial Day weekend.
Natural-gas futures near $12 mark, set for 6% weekly gain
Natural-gas futures near $12 mark, set for 6% weekly gain
Natural-gas futures climb into uncharted territory close to $12 per
million British thermal units, playing off concerns about the Atlantic
Hurricane season, as crude-oil futures turn higher and stand ready to
end the week with a gain of more than 5%.
Commodities Corner: Oil's tense trading scene may sway a move to Dubai
The Dubai Gold & Commodities Exchange will launch trading of crude-oil
futures on Tuesday, a timely move given the astronomical prices for oil
and talk of U.S. regulation of speculators in the commodity markets.
Currencies: Dollar weakens as oil renews upside march
The dollar slips modestly against its bigger counterparts, pressured by
buoyant oil prices, but remains in relatively narrow ranges in quiet
trading ahead of a long holiday weekend for the U.S. and U.K.
Gap's results may signal turnaround under way: analysts
Gap Inc. posts a 40% jump in first-quarter profit, leading some analysts
to believe that the retailer's long-awaited turnaround may finally be
taking hold.
ECB rate hike seen as unlikely after weak purchasing data
A closely watched measure of business activity slows in five years in
May, likely eliminating any prospect an inflation-wary European Central
Bank will hike euro-zone interest rates.
Realtors report that existing home sales fell 1% to 4.89 million annual rate in April, according to Dow Jones.
Realtors report that existing home sales fell 1% to 4.89 million annual
rate in April, according to Dow Jones.
Stocks fall at the open as crude prices resume their rally on a traditionally low volume day before the holiday.
Stocks fall at the open as crude prices resume their rally on a
traditionally low volume day before the holiday.
Thursday, May 22, 2008
Market Briefing Newsletter for Thursday, 05/22/2008
| Dow : 12625.62 up 24.43
| S & P : 1394.35 up 3.64
| NASDAQ: 2464.58 up 16.31
| Bond (10Y): 3.91%, 99.56
MARKETS:
Stocks break losing streak
Wall Street crawls back after a two-session plunge, as oil prices
retreat from recent records and the dollar recovers.
U.S. stocks rise as oil backs off from record $135 level
U.S. stocks rise as oil backs off from record $135 level
U.S. stocks finish higher on Thursday, regaining some ground after two
days of heavy losses, as investors cheered oil's drop from record highs
above $135 a barrel and upbeat jobs data.
Futures Movers: Oil futures end lower to mark the first loss in a week
Crude-oil futures fall from a record peak above $135 a barrel Thursday
to mark their first loss in a week, as traders took profits from a
four-session winning streak that lifted prices for the commodity by more
than 7%.
U.S. inflation understated due to trio of factors: Pimco's Gross
The U.S. government has been understating inflation, which has led
investors to misprice stocks, bonds and real estate, according to
bond-fund manager Bill Gross.
Ford shifts output toward cars, crossovers; profit view revised
Ford Motor Co. will cut production and expects to be about breakeven in
2009 on a pretax basis, excluding items, citing a delay in North America
Automotive profitability.
Economic Report: Home prices down 1.7% in first quarter, U.S. agency
says
U.S. home prices fall a seasonally adjusted 1.7% in the first three
months of 2008 -- the largest quarterly price decline on record as
tracked by the Office of Federal Housing Enterprise Oversight.
U.S. stocks rise as oil backs off from record $135 level
U.S. stocks rise as oil backs off from record $135 level
U.S. stocks rose in morning trade Thursday, with investors cheering oil
backing off from record highs above $135 a barrel and a drop in jobless
claims after two days of heavy losses.
Ford shifts output toward cars, crossovers; profit view revised
Ford Motor Co. will cut production and expects to be about breakeven in
2009 on a pretax basis, excluding items, citing a delay in North America
Automotive profitability.
Futures Movers: Oil futures retreat from record $135-a-barrel level
Crude-oil futures retreat from an overnight record high above $135 a
barrel as traders lock in profits from a four-session winning streak
that's lifted prices for the commodity by more than 7%.
Indications: Futures rise slightly after two days of heavy losses
U.S. stock futures were broadly flat on Thursday after two days of heavy
losses, with oil futures continuing to surge, meeting the $135-a-barrel
landmark.
Economic Report: Home prices down 1.7% in first quarter, U.S. agency
says
U.S. home prices fall a seasonally adjusted 1.7% in the first three
months of 2008 -- the largest quarterly price decline on record as
tracked by the Office of Federal Housing Enterprise Oversight.
U.S. home prices down 1.7% in first quarter from fourth quarter of 2007
U.S. home prices down 1.7% in first quarter from fourth quarter of 2007
5/22/2008 10:05:38 AM
Stocks inch up at the open despite an analyst downgrade of big Wall Street firms and oil's record breaking rally.
Stocks inch up at the open despite an analyst downgrade of big Wall
Street firms and oil's record breaking rally.
People filing for unemployment benefits for the first time fell to 365,000 last week, down 9,000 from week prior.
People filing for unemployment benefits for the first time fell to
365,000 last week, down 9,000 from week prior.
Wednesday, May 21, 2008
Market Briefing Newsletter for Wednesday, 05/21/2008
| Dow : 12601.19 down 227.49
| S & P : 1390.71 down 22.69
| NASDAQ: 2448.27 down 43.99
| Bond (10Y): 3.81%, 100.47
MARKETS:
Stocks slump on oil surge, day 2
Wall Street retreats as crude prices spike and Fed issues weaker 2008
outlook.
U.S. stocks tumble as central bank, oil fuel inflation worries
U.S. stocks tumble as central bank, oil fuel inflation worries
U.S. stocks close sharply lower after the release of the minutes of the
Federal Reserve's last meeting show central bankers hesitant to cut
interest rates further because of mounting inflation concerns.
Futures Movers: Oil closes above $133 on unexpected drop in U.S. crude
supply
Crude-oil futures climb past $132 a barrel to break another record level
after government data show that crude supplies unexpectedly dropped,
marking their first decline in five weeks.
American Airlines to cut capacity further, add new bag fee
American Airlines intends to slash its domestic capacity in the fourth
quarter, grounding aircraft and cutting back its workforce, because of
record fuel prices, economic concerns and competition, the carrier's
parent company AMR Corp. says.
Borders jumps on report of possible bid from Barnes & Noble
Shares of bookstore operator Borders Group Inc. jump on a report that
its larger rival Barnes & Noble Inc. is studying a possible bid.
Media Report: NBC Universal exec says advertisers will demand more of
VOD
Cable-based on-demand viewing of television shows has significant
potential for a variety of reasons but won't work as a business model if
consumers are able to fast-forward past commercials, according to a
senior NBC Universal executive.
Stocks sink for 2nd straight session as oil surges to $133 a barrel and the Fed cuts its growth outlook. Dow tumbles 225 points.
Stocks sink for 2nd straight session as oil surges to $133 a barrel and
the Fed cuts its growth outlook. Dow tumbles 225 points.
Fed members say decision to cut rates was a 'close call,' despite economic slowdown and a drop in consumer spending.
Fed members say decision to cut rates was a 'close call,' despite
economic slowdown and a drop in consumer spending.
Fed forecast of inflation in 2008 soars
Fed forecast of inflation in 2008 soars
5/21/2008 2:01:52 PM
Fed lowers its 2008 economic growth forecast and raises projections for unemployment and inflation.
Fed lowers its 2008 economic growth forecast and raises projections for
unemployment and inflation.
Stocks rise in the first moments of trade after oil prices back away from record highs.
Stocks rise in the first moments of trade after oil prices back away
from record highs.
Crude-oil futures rally past $130 a barrel for the first time
Crude-oil futures rally past $130 a barrel for the first time
5/21/2008 6:31:11 AM
Tuesday, May 20, 2008
MarketsTuesday, 05/20/2008
| Dow : 12828.68 down 199.48
| S & P : 1413.40 down 13.23
| NASDAQ: 2492.26 down 23.83
| Bond (10Y): 3.77%, 100.72
MARKETS:
Stocks tumble on inflation fears
Wall Street posts big, wide-spread losses on inflation concerns, and big
jumps in crude oil and gold prices.
Market Briefing Newsletter for Tuesday, 05/20/2008
| Dow : 12828.68 down 199.48
| S & P : 1413.40 down 13.23
| NASDAQ: 2492.26 down 23.83
| Bond (10Y): 3.77%, 100.72
MARKETS:
Stocks tumble on inflation fears
Wall Street posts big, wide-spread losses on inflation concerns, and big
jumps in crude oil and gold prices.
Stocks slide as oil near $130 fuels inflation concerns
Stocks slide as oil near $130 fuels inflation concerns
Stocks tumble sharply, as oil near $130 a barrel fuels concerns that
surging commodities prices will further crimp U.S. consumption, while an
official signals the central bank may be done with cutting interest
rates to boost the economy.
Futures Movers: Crude ends above $129, tallies three-session gain of 4%
Crude-oil futures travel to a new record high above $128 a barrel after
Monday's record high close, as investors bet that increasing demand will
exceed supply, despite increased production by Saudi Arabia.
Economic Report: Producer prices rise tame 0.2% in April
Wholesale prices rose a smaller-than-expected 0.2% in April after
seasonal adjustments, with food prices flat and energy prices falling,
the Labor Department reports.
The Fed: Fed wants to pause from rate cut campaign, Kohn signals
Interest rates are now low enough for the Federal Reserve to pause and
take a wait-and-see stance in coming weeks, influential Fed Vice
Chairman Donald Kohn says, but it might not be easy for the central bank
to take a break for long.
Senate panel approves housing rescue bill with little opposition
The Senate Banking Committee approves legislation to help the ailing
housing market and impose tougher rules on mortgage-finance giants
Fannie Mae and Freddie Mac; bill now moves to Senate floor where passage
is expected.
Rising crude, inflation concerns hamper stocks; Dow industrials fall 198 points
Rising crude, inflation concerns hamper stocks; Dow industrials fall 198
points
5/20/2008 4:04:52 PM
Crude climbs closer to $130 on price forecasts, demand concerns
Crude climbs closer to $130 on price forecasts, demand concerns
Crude-oil futures travel to a new record high above $128 a barrel after
Monday's record high close, as investors bet that increasing demand will
exceed supply, despite increased production by Saudi Arabia.
Economic Report: Producer prices rise tame 0.2% in April
Wholesale prices rose a smaller-than-expected 0.2% in April after
seasonal adjustments, with food prices flat and energy prices falling,
the Labor Department reports.
The Fed: Fed wants to pause from rate cut campaign, Kohn signals
Interest rates are now low enough for the Federal Reserve to pause and
take a wait-and-see stance in coming weeks, influential Fed Vice
Chairman Donald Kohn says, but it might not be easy for the central bank
to take a break for long.
Home Depot, hurt by housing and economy, posts 66% profit drop
Home Depot Inc. reported Tuesday that first-quarter net income fell 66%,
hurt by economic worries that curtailed home-improvement spending and by
costs it incurred to close stores and abandon some new openings in its
pipeline.
Market Snapshot: Stocks slide as oil at $129 fuels inflation concerns
NEW YORK
Stocks fall sharply as crude oil futures top $129 and a report showing a
continued increase in producer prices fuels concerns that surging
commodities prices will further crimp U.S. consumption.
Midday Report: Crude climbs closer to $130 on price forecasts, demand concerns
Crude climbs closer to $130 on price forecasts, demand concerns
Crude-oil futures travel to a new record high above $128 a barrel after
Monday's record high close, as investors bet that increasing demand will
exceed supply, despite increased production by Saudi Arabia.
Economic Report: Producer prices rise tame 0.2% in April
Wholesale prices rose a smaller-than-expected 0.2% in April after
seasonal adjustments, with food prices flat and energy prices falling,
the Labor Department reports.
The Fed: Fed wants to pause from rate cut campaign, Kohn signals
Interest rates are now low enough for the Federal Reserve to pause and
take a wait-and-see stance in coming weeks, influential Fed Vice
Chairman Donald Kohn says, but it might not be easy for the central bank
to take a break for long.
Home Depot, hurt by housing and economy, posts 66% profit drop
Home Depot Inc. reported Tuesday that first-quarter net income fell 66%,
hurt by economic worries that curtailed home-improvement spending and by
costs it incurred to close stores and abandon some new openings in its
pipeline.
Market Snapshot: Stocks slide as oil at $129 fuels inflation concerns
NEW YORK
Stocks fall sharply as crude oil futures top $129 and a report showing a
continued increase in producer prices fuels concerns that surging
commodities prices will further crimp U.S. consumption.
Mortgage relief bill passes in Senate Banking Committee vote - 18 in favor, 2 opposed.
Mortgage relief bill passes in Senate Banking Committee vote - 18 in
favor, 2 opposed.
Stocks slump at the open as oil prices spike more than $2 to set a new record near $130 a barrel.
Stocks slump at the open as oil prices spike more than $2 to set a new
record near $130 a barrel.
Oil prices surged to an all time high of $129.31 a barrel in morning trade.
Oil prices surged to an all time high of $129.31 a barrel in morning
trade.
U.S. producer prices outside of food, energy rise most in 17 years
U.S. producer prices outside of food, energy rise most in 17 years
5/20/2008 8:31:31 AM
Fed vice chairman signals central bank prefers to hold target rates steady in near term
Fed vice chairman signals central bank prefers to hold target rates
steady in near term
Inflation pressure on wholesale goods eased in April after a big increase in March. Excluding food and energy, prices rose more.
Inflation pressure on wholesale goods eased in April after a big
increase in March. Excluding food and energy, prices rose more.
Oil prices rose to another record high hitting $127.84 a barrel in morning trade.
Oil prices rose to another record high hitting $127.84 a barrel in
morning trade.
Monday, May 19, 2008
Market Briefing Newsletter for Monday, 05/19/2008
| Dow : 13028.16 up 41.36
| S & P : 1426.63 up 1.28
| NASDAQ: 2516.09 down 12.76
| Bond (10Y): 3.83%, 99.97
MARKETS:
Blue chips stay buoyant
S&P 500 hits a 5-month high and the Dow transports reach an all-time
mark following a better-than-expected leading indicators report.
With Microsoft and Yahoo talking again, what's with Icahn?
With Microsoft and Yahoo talking again, what's with Icahn?
The shotgun wedding Carl Icahn had in mind for Yahoo and Microsoft took
an unexpected turn after the tech titans say they're talking about
coming together on their own, but without a formal marriage.
Housing market downturn could undercut Home Depot profit
Home Depot Inc. is expected to report a drop in first-quarter profit
Tuesday, as the declining housing market and other economic worries cut
into consumers' appetite for discretionary spending, analysts say.
Economic Report: Leading indicators rise for second straight month
The U.S. economy is likely to remain weak, but is not in a recession,
economists for the Conference Board says after announcing that the index
of leading economic indicators rose slightly in April for a second
straight month.
Amazon shares surge as Goldman Sachs boosts rating
Amazon.com Inc. shares climb more than 9% after Goldman Sachs adds the
Internet retailing giant to its conviction buy list and raises its price
target, saying the company could grow its sales by more than 20% over
the next decade.
Oil settles at record $127.05 a barrel amid reports that OPEC dashed hopes of a supply increase.
Oil settles at record $127.05 a barrel amid reports that OPEC dashed
hopes of a supply increase.
Stocks rise as recession fears ebb
Stocks rise as recession fears ebb
Stocks advanced on Monday, with data suggesting the U.S. economy may not
be in recession helping overcome concerns over record crude oil prices,
while technology received a lift as Microsoft said deal talks with Yahoo
were back on the agenda.
Economic Report: Leading indicators rise for second straight month
The U.S. economy is likely to remain weak, but is not in a recession,
economists for the Conference Board says after announcing that the index
of leading economic indicators rose slightly in April for a second
straight month.
Platinum supply comes up short in 2007: report
Global platinum supplies weren't enough to meet demand in 2007, platinum
group metals refiner Johnson Matthey says -- bad news for a market that
saw a record price of nearly $2,300 an ounce in March.
Microsoft reopens talks with Yahoo on scaled-back deal
Microsoft Corp. has reopened talks with Yahoo Inc. about a deal that
would not involve a full acquisition, just days after billionaire
investor Carl Icahn said he would seek to oust Yahoo's board.
Lowe's profit drops 18% on housing-market malaise
Lowe's Cos., the No. 2 U.S. home-improvement retailer, says its
first-quarter profit fell 18%, hurt by the declining housing market and
a spate of other economic worries that cut into consumers' discretionary
spending.
Sunday, May 18, 2008
Microsoft in new talks with Yahoo
Microsoft in new talks with Yahoo
5/18/2008 4:23:31 PM
