Friday, July 18, 2008
Markets Friday, 07/18/2008
| Dow : 11496.57 up 49.91
| S & P : 1260.68 up 0.36
| NASDAQ: 2282.78 down 29.52
| Bond (10Y): 4.08%, 98.28
MARKETS:
Blue chips rally, but techs tumble
Stocks closed mixed on volatile oil prices and a mixed bag of earnings.
The Dow finished up 50 points, but techs ended sharply lower.
U.S. stocks mostly tilt up, led by financials; Nasdaq slips
U.S. stocks mostly tilt up, led by financials; Nasdaq slips
U.S. stocks pull mainly higher, trying to extend a two-day rally, with
financials shares struggling to regain their footing after Citigroup
Inc. reported smaller-than-expected losses but Merrill Lynch & Co.
disappointed.
Citigroup swings to loss on $7.2 bln writedown
Citigroup, the largest U.S. bank by assets, says it lost money for the
third consecutive quarter after writing down $7.2 billion of investments
related to fixed-income weakness and consumer credit woes.
Israel's Teva to buy U.S. generics rival Barr for $7.4 billion
Teva Pharmaceutical agrees to buy smaller generics rival Barr
Pharmaceuticals for $7.46 billion plus about $1.5 billion in assumed
debt.
Microsoft profit is strong, but forecast is not
Microsoft Corp. reported quarterly double-digit profit growth for a
period that saw the software giant bid farewell to Bill Gates as it
girded for a costly battle in the Internet market against Google Inc.
Merrill reports $4.65 bln quarterly loss; sells Bloomberg stake
Merrill Lynch & Co. reports a $4.65 billion second-quarter net loss as
the brokerage firm is hit by more write-downs on large mortgage-related
exposures.
Thursday, July 17, 2008
Markes Thursday, 07/17/2008
| Dow : 11446.66 up 207.38
| S & P : 1260.32 up 14.96
| NASDAQ: 2312.30 up 27.45
| Bond (10Y): 3.99%, 99.00
MARKETS:
Stocks rally for 2nd straight day
Dow jumps more than 200 points for second session on tumbling oil
prices and better-than-expected financial sector results.
Google posts profit gain, but falls short of estimates
Google posts profit gain, but falls short of estimates
Google Inc. says its fiscal second-quarter profit rose, though fell
short of analysts' estimates.
Merrill reports $4.65 bln quarterly loss; sells Bloomberg stake
SAN FRANCISCO
Merrill Lynch & Co. reported a $4.65 billion second-quarter net loss
late Thursday as the brokerage firm was hit by more write-downs on large
mortgage-related exposures.
Market Snapshot: U.S. stock rally for a 2nd day, greased by financials
and oil
U.S. stocks rally for a second day after oil drops below $131 a barrel
for the first time in six weeks and as financial shares surge higher,
buoyed by J.P. Morgan Chase's financial results, which beat forecasts.
Crude closes below $130; down nearly $16 in three sessions
Crude-oil futures close below $130 a barrel, extending three-day losses
to neraly $16 and leading broad declines in most commodities.
Real Estate: Top 10 'walkable' cities have a leg up with gas at $4 a
gallon
High gas prices are getting most people down these days -- unless,
perhaps, they live in San Francisco.
J.P. Morgan Chase's quarterly profit falls 53% but tops target
J.P. Morgan Chase's quarterly profit falls 53% but tops target
Major U.S. bank J.P. Morgan Chase reports second-quarter net income down
53% from a year ago as revenue recedes, but the results nevertheless
surpass Wall Street estimates. Shares of the Dow Jones Industrial
Average component rally.
Textron shares sink on quarterly outlook; United Tech raises view
Strong overseas market growth and global demand for aircraft help boost
second-quarter profits for United Technologies and Textron alike,
financial results show.
EBay shares slump as outlook overshadows profit
Shares of eBay Inc. succumb to early pressure, trading down in the wake
of investor concerns about the state of the online auctioneer's core
business.
Yahoo blasts Icahn as an 'agitator' who seeks quick profit
Yahoo Chairman Roy Bostock and Chief Executive Jerry Yang issue a letter
to company shareholders, criticizing the "Carl Icahn-Microsoft alliance"
as offering an agenda that "will destroy stockholder value."
Pakistan shares off for 15th session; currency slumps
Pakistan shares slumped Thursday, sending the country's benchmark stock
index down for a 15th session, as investors dumped shares on fears about
political uncertainty and deteriorating economic conditions.
JPMorgan Chase reports 52% decline in quarterly net income, but earnings top Wall Street's estimates.
JPMorgan Chase reports 52% decline in quarterly net income, but earnings
top Wall Street's estimates.
U.S. single-family housing starts down 5.3% in June, at a 17-year low
U.S. single-family housing starts down 5.3% in June, at a 17-year low
7/17/2008 8:31:34 AM
Stocks open higher, boosted by better-than-expected profits from JPMorgan, Coca-Cola and United Technologies.
Stocks open higher, boosted by better-than-expected profits from
JPMorgan, Coca-Cola and United Technologies.
Wednesday, July 16, 2008
Markets Wednesday, 07/16/2008
| Dow : 11239.28 up 276.74
| S & P : 1245.36 up 30.45
| NASDAQ: 2284.85 up 69.14
| Bond (10Y): 3.93%, 99.50
MARKETS:
Huge rebound for Wall Street
Dow soars by largest margin in more than 3 months on plummeting oil
prices and positive financial reports from banks and airlines.
U.S. stocks end sharply up; major indexes up 2.5% and more
U.S. stocks end sharply up; major indexes up 2.5% and more
U.S. stocks rally as the price of crude slides more than $6 a barrel,
with equities already bolstered by better-than-forecast results from
Wells Fargo and Intel, offset a big jump in retail-level inflation.
Financial Stocks: Financials rise with Fannie, Freddie and Wells Fargo
NEW YORK
Fannie Mae and Freddie Mac continued to claw back gains from a week of
sharp declines after new rules to clamp down on shorting of the shares,
and a dividend hike from Wells Fargo Co. helped to lift bank stocks in
buoyant trade Wednesday.
Wells Fargo charting path out of the woods, as investors cheer
Wells Fargo shares log their best one-day performance since the days
following the 1987 market crash, after the bank posts
better-than-expected earnings and raises its dividend 10%.
Economic Report: Home builders index hits another low
The home builders' sentiment index falls two points in July to
record-low 16, with all three components of the survey also dropping to
historic lows, the National Association of Home Builders reports.
The Fed: Some FOMC members pushed for quick rate hike: minutes
Some top Federal Reserve officials argue at the closed door meeting last
month of Fed officials that the central bank should hike interest rates
"very soon," according to a summary of the meeting.
Oil prices plunge $4 a barrel after government report shows surprise surge in gasoline and crude supplies.
Oil prices plunge $4 a barrel after government report shows surprise
surge in gasoline and crude supplies.
U.S. retail-level inflation runs hotter than expected, up 1.1% for June
U.S. retail-level inflation runs hotter than expected, up 1.1% for June
7/16/2008 8:33:30 AM
Stocks open mixed after a key inflation report showed consumer prices surged at steeper-than-expected pace.
Stocks open mixed after a key inflation report showed consumer prices
surged at steeper-than-expected pace.
The consumer price index, a key inflation gauge, surged 5% in the past year - biggest jump in more than 17 years.
The consumer price index, a key inflation gauge, surged 5% in the past
year - biggest jump in more than 17 years.
Tuesday, July 15, 2008
CNNMoney.com: Market Briefing Newsletter for Tuesday, 07/15/2008
| Dow : 10962.54 down 92.65
| S & P : 1214.91 down 13.39
| NASDAQ: 2215.71 up 2.84
| Bond (10Y): 3.82%, 100.41
MARKETS:
Dow ends at near 2-year low
Wall Street ends volatile session mixed as slumping bank sector and
Bernanke comments on the economy counter GM and oil-price tumble.
U.S. stocks close mainly down as financial sector still trouble
U.S. stocks close mainly down as financial sector still trouble
U.S. stocks sharply pare losses as crude plunges below $140 a barrel and
as some embattled financial shares rally, with Lehman Brothers Holdings
Inc. and Washington Mutual Inc. among those climbing.
SEC to limit shorting of Fannie, Freddie, brokers
The Securities and Exchange Commission announces that it will try to
limit so-called "naked" short selling of shares in Fannie Mae, Freddie
Mac and big brokerage firms.
The Fed: Fed uneasy about inflation, growth, Bernanke says
Federal Reserve officials have dialed up their concens about the
potential for runaway prices and about the downside risks to growth,
says Fed Chairman Ben Bernanke.
McCain, Obama spar over war strategy
Sens. Barack Obama and John McCain face off over their war strategies,
with each supporting a stronger force in Afghanistan but disagreeing on
whether to maintain a presence in Iraq.
Lehman bidders thin on the ground, analysts say
After a drastic slide in shares of Lehman Bros. Holdings, speculation
about clients leaving and a reported search for new strategic options,
now would be a good time to acquire the struggling brokerage firm,
analysts say.
Dow industrials drop nearly 100 points, with AIG, B. of A. pacing slide
Dow industrials drop nearly 100 points, with AIG, B. of A. pacing slide
7/15/2008 4:03:29 PM
Oil falls $6.44/barrel to settle at $138.74, for 2nd-biggest dollar drop ever as Fed's Bernanke sees weaker U.S. demand for crude.
Oil falls $6.44/barrel to settle at $138.74, for 2nd-biggest dollar drop
ever as Fed's Bernanke sees weaker U.S. demand for crude.
Dow industrials down triple digits; AIG, B. of A., J.P. Morgan biggest decliners
Dow industrials down triple digits; AIG, B. of A., J.P. Morgan biggest
decliners
Inflation worries trump other concerns, Fed tells Congress
Inflation worries trump other concerns, Fed tells Congress
The potential for runaway price hikes is the top concern of Federal
Reserve policymakers, according to testimony by Fed chairman Ben
Bernanke and the accompanying report on the economic outlook of his
colleagues on the central bank released Tuesday.
Currencies: Dollar under pressure after Bernanke cites growth risks
Growing worries about U.S. financial institutions keeps the dollar under
heavy selling pressure as the euros hits an all-time high against the
greenback above $1.60.
GM cuts dividend, curbs costs to raise $15 billion
General Motors will cut its dividend, slash salaried employment costs
and sell assets in an effort to raise $15 billion in cash by the end of
2009 as the company grapples with a steep downturn in the U.S. car
market.
Lehman bidders are thin on the ground, analysts say
LONDON
After a drastic slide in Lehman Brothers shares, speculation about
clients leaving and a reported search for new strategic options, now
would be a good time to acquire the struggling brokerage firm, analysts
say. But bidders may be thin on the ground.
GM suspends dividend, cutting 20% of salaried costs, to boost liquidity by $15 billion
GM suspends dividend, cutting 20% of salaried costs, to boost liquidity
by $15 billion
7/15/2008 8:36:19 AM
Johnson & Johnson raises 2008 earnings outlook; CEO calls second-quarter profit 'solid'
Johnson & Johnson raises 2008 earnings outlook; CEO calls second-quarter
profit 'solid'
7/15/2008 7:57:02 AM
Oil prices suddenly plunge more than $8 a barrel, falling below $137, as stocks recover losses.
Oil prices suddenly plunge more than $8 a barrel, falling below $137, as
stocks recover losses.
Dow sinks more than 200 points after Fed Chairman Bernanke warns financial, housing strains will continue to drag on the economy.
Dow sinks more than 200 points after Fed Chairman Bernanke warns
financial, housing strains will continue to drag on the economy.
Stocks open lower amid jitters about banks and the health of Fannie and Freddie, as the dollar sinks to a fresh low against the euro.
Stocks open lower amid jitters about banks and the health of Fannie and
Freddie, as the dollar sinks to a fresh low against the euro.
=?UTF-8-STRICT?Q?Bush:_=E2=80=98Difficult_time_for_many_families?= =?UTF-8-STRICT?Q?=E2=80=99_=E2=80=93_Calls_on_Congress_to_pass_Fannie,_Fr?= =?UTF-8-STRICT?Q?eddie_rescue_plan_'in_its_entirety.'?=
Bush: 'Difficult time for many families' – Calls on Congress to
pass Fannie, Freddie rescue plan 'in its entirety.'
Fed Chairman Bernanke says housing, financial strains and energy costs will continue to drag on the economy.
Fed Chairman Bernanke says housing, financial strains and energy costs
will continue to drag on the economy.
Dollar hits fresh all-time low against euro, AP reports.
Dollar hits fresh all-time low against euro, AP reports.
Monday, July 14, 2008
Markets Monday, 07/14/2008
| Dow : 11055.19 down 45.35
| S & P : 1228.30 down 11.19
| NASDAQ: 2212.87 down 26.21
| Bond (10Y): 3.85%, 100.13
MARKETS:
Banks batter Wall Street
Fears that more banks could follow IndyMac's failure counter relief
about the government plan to bolster Fannie Mae and Freddie Mac.
U.S. stocks close lower as bank worries take hold
U.S. stocks close lower as bank worries take hold
U.S. stocks decline and the financial sector is pummeled as uncertainty
reigns in the wake of the failure of IndyMac Bancorp and the government
rescue of mortgage-finance giants Fannie Mae and Freddie Mac.
Bank stocks plunge as investors mull next potential casualty
Bank stocks are under intense selling pressure as investors and analysts
worry that worsening housing and credit problems could claim more banks
after the failure of IndyMac Bancorp Inc.
Equity holders will be hit if Treasury invests in Fannie, Freddie
If the U.S. government has to buy stakes in Fannie Mae and Freddie Mac,
current equity holders may be wiped out, experts say.
Boeing steals limelight with Middle East orders
Boeing on Monday stole the limelight from arch-rival Airbus with two
major orders from Middle Eastern carriers, while the European aircraft
maker kept an unusually low profile.
Google exec says Yahoo deal won't expand its lead
A Google executive defends the company's proposed search advertising
partnership with Yahoo in prepared congressional testimony.
Washington Mutual and National City fall nearly 30% as regional-bank stocks sell off
Washington Mutual and National City fall nearly 30% as regional-bank
stocks sell off
7/14/2008 12:26:09 PM
Midday Report: U.S. stocks pare early gains as Fed bailout considered
U.S. stocks pare early gains as Fed bailout considered
U.S. stocks trade narrowly mixed, as investors mulll federal lifeline
thrown to mortgage-finance giants Fannie Mae and Freddie Mac as well as
Anheuser-Busch agreeing to sweetened buyout offer.
White House, Fed step in to rescue Fannie, Freddie
WASHINGTON
The implicit government guarantee of Fannie Mae and Freddie Mac is now
explicit.
Anheuser-Busch accepts $52 billion InBev offer
Anheuser-Busch Cos. agrees to a $52 billion offer from InBev NV in a
global deal that will create the world's largest beer maker and transfer
ownership of the legendary U.S. company to the Belgian-Brazilian giant.
Futures Movers: Crude mixed on rising dollar, Brazilian strikes
Crude-oil futures reclaim $145 a barrel as traders eye strength in the
dollar and renewed worries about supply disruptions in Brazil and,
potentially, Nigeria.
Yahoo rebuffs Microsoft-Icahn restructuring proposal
Yahoo Inc. said late on Saturday that it rejected a restructuring
proposal from Microsoft Corp. and the investor Carl Icahn, and the
Sunnyvale, Calif., Internet-services giant called on Microsoft to bid
for the whole company.
Freddie Mac $3 billion debt offering of 3-month and 6-month bills prices higher than expected, Dow Jones reports.
Freddie Mac $3 billion debt offering of 3-month and 6-month bills prices
higher than expected, Dow Jones reports.
Stocks open sharply higher, embracing a government plan that aims to boost mortgage finance giants Fannie Mae and Freddie Mac.
Stocks open sharply higher, embracing a government plan that aims to
boost mortgage finance giants Fannie Mae and Freddie Mac.
Sunday, July 13, 2008
Anheuser Busch agrees to $49.91 billion takeover by InBev
Anheuser Busch agrees to $49.91 billion takeover by InBev
7/13/2008 8:53:30 PM
Treasury and the Fed outline a plan to prop up Fannie Mae and Freddie Mac by making more funds available.
Treasury and the Fed outline a plan to prop up Fannie Mae and Freddie
Mac by making more funds available.
