Friday, July 04, 2008
Real Estate Weekly: Home-equity-loan woes continue to mount
The delinquency rate on home-equity lines of credit rose to its highest
in more than a decade during the first quarter, the American Bankers
Association said this week.
Higher food and gas prices, coupled with little income growth, have made
it more difficult for people to manage their debt, the group's chief
economist said. That caused the percentage of HELOC accounts more than
30 days past due to reach its highest rate since 1997.
But it isn't just people who are late on their payments who are having
trouble with their home-equity lines these days. Plenty of borrowers
with strong credit histories, a good amount of equity in their homes and
decent income streams have had their HELOC limits reduced.
Thursday, July 03, 2008
Markets Thursday, 07/3/2008
| Dow : 11288.54 up 73.03
| S & P : 1262.90 up 1.38
| NASDAQ: 2245.38 down 6.08
| Bond (10Y): 3.98%, 99.13
MARKETS:
Dow rises after jobs report
Blue chips gain as payroll decline meets expectations and interest rates
rise in Europe. But Nvidia drags on techs.
U.S. stocks advance as employment report comes as expected
U.S. stocks advance as employment report comes as expected
NEW YORK
U.S. stocks end mostly higher, offering a benign reaction to the
government's report on employment, which fell only slightly more than
expected in June, offsetting worries that the ailing economy is getting
worse.
Economic Report: Payrolls fall by 62,000 in June
The U.S. economy shed 62,000 jobs in June while the unemployment rate
unexpectedly remained at a four-year high of 5.5%, the Labor Department
reports.
ECB's Trichet claims 'no bias' after first hike in 13 months
European Central Bank President Jean-Claude Trichet says he has "no
bias" on interest-rate policy after the ECB makes good on his threat to
hike its key lending rate.
Currencies: Dollar gains after ECB meeting, jobs data
The dollar spikes higher after jobs data comes in better than expected
and official rhetoric out of Europe doesn't confirm further interest
rate hikes.
Yahoo shares jump on report that Microsoft considering new bid
Shares of Yahoo Inc. jump 6% after a news report says Microsoft Corp.
has approached other media companies about a potential joint bid for the
Web portal.
Stocks end mixed ahead of the July 4th holiday with the Dow and S&P 500 gaining following a bounce in GM and financial stocks.
Stocks end mixed ahead of the July 4th holiday with the Dow and S&P 500
gaining following a bounce in GM and financial stocks.
U.S. stocks advance as employment report comes as expected
U.S. stocks advance as employment report comes as expected
NEW YORK
U.S. stocks pull higher after the government says employment declined
only a bit more than expected in June, offsetting worries that the
ailing economy is getting worse.
Economic Report: Payrolls fall by 62,000 in June
The U.S. economy shed 62,000 jobs in June while the unemployment rate
unexpectedly remained at a four-year high of 5.5%, the Labor Department
reports.
ECB's Trichet claims 'no bias' after first hike in 13 months
European Central Bank President Jean-Claude Trichet on Thursday said he
has "no bias" on interest-rate policy after the ECB made good on his
threat to hike its key lending rate for the first time in 13 months in a
bid to tamp down inflation expectations.
Currencies: Dollar slightly higher as markets await ECB, U.S. payrolls
data
The yen was modestly lower against its major rivals in Asian trading
Thursday, but currency markets were rangebound and subdued ahead of the
European Central Bank's interest rate announcement and U.S. nonfarm
payrolls data later in the session.
Yahoo shares jump on report that Microsoft considering new bid
Shares of Yahoo Inc. jump 6% after a news report says Microsoft Corp.
has approached other media companies about a potential joint bid for the
Web portal.
U.S. service-sector gauge declines sharply
U.S. service-sector gauge declines sharply
7/3/2008 10:20:38 AM
Service sector activity shrunk in June, a poll of supply managers said. Economists had expected growth to continue.
Service sector activity shrunk in June, a poll of supply managers said.
Economists had expected growth to continue.
European Central Bank hikes key rate, first increase in 13 months
European Central Bank hikes key rate, first increase in 13 months
7/3/2008 7:45:41 AM
U.S. economy loses 62,000 jobs in June
U.S. economy loses 62,000 jobs in June
7/3/2008 8:30:38 AM
Stocks rise at the open after a jobs report that was slightly weaker than expected. Oil prices come off their highs.
Stocks rise at the open after a jobs report that was slightly weaker
than expected. Oil prices come off their highs.
Wednesday, July 02, 2008
Markets Wednesday, 07/2/2008
| Dow : 11215.51 down 166.75
| S & P : 1261.52 down 23.39
| NASDAQ: 2251.46 down 53.51
| Bond (10Y): 3.96%, 99.16
MARKETS:
Wall Street: The bear is back
Dow and Nasdaq end at bear market levels, down more than 20% from
October highs. Stocks fall on record oil prices, GM's downgrade and
worries about the June jobs report.
Crude futures close at new record of $143.57 a barrel
Crude futures close at new record of $143.57 a barrel
7/2/2008 3:03:42 PM
Oil prices remain higher after a surprise gain in U.S. gasoline stockpiles.
Oil prices remain higher after a surprise gain in U.S. gasoline
stockpiles.
U.S. stocks mainly up ahead of Thursday's jobs data
U.S. stocks mainly up ahead of Thursday's jobs data
NEW YORK
U.S. stocks tilt higher, with investors heartened by a pullback in the
price of crude and reports of a new bid for Yahoo Inc., but pressured by
a report showing larger-than-forecast job losses in the private-sector.
Economic Report: ADP report shows biggest job loss in nearly 6 years
Private-sector firms in the United States lost 79,000 jobs in June, the
biggest loss since November 2002, ADP says.
Blockbuster shares jump after dropping bid for Circuit City
Blockbuster withdraws its bid for the consumer-electronics retailer
Circuit City Stores, saying it still likes the idea of combining media
content and electronic devices in one business but plans to pursue the
strategy in its own stores.
Brokerage-firm failure has to be an option: Paulson
Treasury Secretary Henry Paulson will stress in a speech later Wednesday
that federal regulators must craft a system to allow brokerage firms to
fail without threatening the overall financial system.
Yahoo shares jump on report that Microsoft considering new bid
Shares of Yahoo Inc. jump 6% after a news report says Microsoft Corp.
has approached other media companies about a potential joint bid for the
Web portal.
U.S. stock indexes post gains at opening bell
U.S. stock indexes post gains at opening bell
7/2/2008 9:35:13 AM
Tuesday, July 01, 2008
Markets Tuesday, 07/1/2008
| Dow : 11382.26 up 32.25
| S & P : 1284.91 up 4.91
| NASDAQ: 2304.97 up 11.99
| Bond (10Y): 4.00%, 98.94
MARKETS:
Stocks fight back
Wall Street manages gains after the Dow and Nasdaq briefly hit bear
market territory. GM's sales loss is not as steep as expected. Oil
closes at record high.
U.S. stocks turn higher as GM posts sales, oil off highs
U.S. stocks turn higher as GM posts sales, oil off highs
Stocks rebound from steep losses to end in positive territory after
General Motor's June sales come in better-than-expected, while oil
prices move off earlier highs. See full story.
Ford, GM take hit in June sales, but so does Toyota
Ford shares drop as much as 9% after the company pins an expected plunge
in June U.S. vehicle sales on broader economic woes and offers little
hope for improvement.
Food Futures: Sugar rises to four-month high on ethanol demand
Sugar futures rise to the highest in more than three months on concerns
that record crude oil prices will increase global demand for ethanol
produced from sugarcane as an alternative energy. .
Five-year oil demand outlook cut; IEA sees drivers scaling back
The International Energy Agency cuts its five-year forecast for global
oil demand, saying the market will tighten as production becomes more
sluggish and as booming prices compel more consumers to park
gas-guzzling autos.
Stocks close higher in choppy trading amid record high oil prices and weak but better-than-expected June sales from GM.
Stocks close higher in choppy trading amid record high oil prices and
weak but better-than-expected June sales from GM.
Oil settles at record high $140.97 a barrel on continued dollar weakness.
Oil settles at record high $140.97 a barrel on continued dollar
weakness.
U.S. stocks under pressure on oil, financial woes
U.S. stocks under pressure on oil, financial woes
Stocks move lower on the first trading session of the third quarter, as
banking woes put European markets under heavy stress, and geopolitical
tensions fuel more gains in oil prices.
Economic Report: Manufacturing picks up in June, ISM says
The U.S. factory sector rebounded in June and showed a pickup in
activity for the first time since January.
UBS shares drop as tax probe continues, bank revamps governance
UBS shares beat a fresh retreat amid worries about a Justice Department
probe and potential further subprime-mortgage losses, as the Swiss
banking giant details plans for a corporate-governance overhaul.
IEA cuts five-year oil demand forecast as drivers scale back
SAN FRANCISCO
The International Energy Agency Tuesday cut its five-year forecast for
global oil demand, saying booming oil prices are causing wealthy
countries' drivers to park their gas-guzzlers.
InBev refuses to back down over $46 bln Anheuser-Busch offer
Belgian brewing group InBev says it remains committed to its $46 billion
offer for Anheuser-Busch, taking a step closer to a hostile bid as it
argues that a takeover would give shareholders a safer option than its
U.S. rival's restructuring plans.
Yahoo shares trade below $20 for first time since Microsoft's bid
Yahoo shares trade below $20 for first time since Microsoft's bid
7/1/2008 10:23:17 AM
Dow industrials off 100 points at start of trading as U.S. stocks fall sharply
Dow industrials off 100 points at start of trading as U.S. stocks fall
sharply
7/1/2008 9:36:39 AM
Dow industrials officially enter bear-market territory
Dow industrials officially enter bear-market territory
7/1/2008 9:53:45 AM
U.S. construction spending down 0.4% in May
U.S. construction spending down 0.4% in May
7/1/2008 10:00:52 AM
Manufacturing activity surprisingly strong in June, signalling expansion, according to a survey of purchasing managers.
Manufacturing activity surprisingly strong in June, signalling
expansion, according to a survey of purchasing managers.
Monday, June 30, 2008
Markets Briefing Newsletter for Monday, 06/30/2008
| Dow : 11350.01 up 3.50
| S & P : 1280.00 up 1.62
| NASDAQ: 2292.98 down 22.65
| Bond (10Y): 3.97%, 99.22
MARKETS:
Mixed day, brutal June
Dow and S&P 500 see biggest losses for the month since the Great
Depression despite edging higher Monday.
More headwinds seen facing Merrill Lynch, Morgan Stanley
More headwinds seen facing Merrill Lynch, Morgan Stanley
Wall Street's bearish drumbeat goes on, with brokerage research about
Merrill Lynch and Morgan Stanley being the latest signs of trouble.
H&R Block shares rise on earnings, higher outlook
Investors cheer after the tax-preparation giant posts upbeat results and
higher-than-expected annual earnings projections.
MarketWatch First Take: Detroit peers into the void as investor exodus
accelerates
Yahoo says Microsoft wasn't truly interested in a merger
Taking the offensive in the proxy war, Yahoo portrays Microsoft as an
"inconsistent" negotiator that did not appear to be fully committed to a
marriage. .
Campbell's lifts profit view, sets $1.2 bln buyback
NEW YORK
Campbell Soup Co. says its board has authorized a new share repurchase
program to buy up to $1.2 billion of its stock through the 2011 fiscal
year.
H&R Block shares rise on earnings, higher outlook
Investors cheer after the tax-preparation giant posts upbeat results and
higher-than-expected annual earnings projections.
Yahoo doubts Microsoft was truly interested in a marriage
SAN FRANCISCO
Taking the offensive in the bitter proxy war, Yahoo Inc. on Monday
portrayed Microsoft Corp. as an "inconsistent" negotiator which did not
appear to be fully-committed to a marriage.
Campbell's lifts profit view, sets $1.2 bln buyback
NEW YORK
Campbell Soup Co. says its board has authorized a new share repurchase
program to buy up to $1.2 billion of its stock through the 2011 fiscal
year.
France Telecom walks out on TeliaSonera
Shares of TeliaSonera AB slumped on Monday after France Telecom decided
not to make a formal bid for the Swedish company.
Dow Jones industrial average struggles higher at the open while Nasdaq sags. Oil prices surge to record $143 a barrel.
Dow Jones industrial average struggles higher at the open while Nasdaq
sags. Oil prices surge to record $143 a barrel.
Chicago PMI for June shows fractional improvement, still below key 50 mark
Chicago PMI for June shows fractional improvement, still below key 50
mark
6/30/2008 9:46:33 AM