Friday, January 09, 2009
Markets Friday, 01/9/2009
| Dow : 8599.18 down 143.28 | S & P : 890.35 down 19.38 |
| NASDAQ: 1571.59 down 45.42 | Bond (10Y): 2.40%, 111.75
MARKETS:
Stocks knocked by jobs report
Dow ends down 1.6% as investors fret the loss of another 524,000 jobs
in December.
Citi in talks to sell brokerage business, reports say
Citi in talks to sell brokerage business, reports say
Citigroup Inc.'s brokerage business is reportedly for sale as the
giant bank tries to recover from a near-collapse that's left it on
government life support.
BIG BOND DEALERS SEE YIELDS RISING IN 2009 AS ECONOMY REBOUNDS
Yields on U.S. Treasury bonds will rise from their current near-record
lows by the end of the year as economic growth resumes, but are likely
to stay at historically depressed levels, the biggest bond dealers
say.
ECONOMIC REPORT: CARNAGE CONTINUES WITH 524,000 JOBS LOST IN DECEMBER
The U.S. economy lost 524,000 jobs in December, closing out the worst year for
job losses since World War II, the Labor Department says.
JOHN DVORAK'S SECOND OPINION: CAN PRE REALLY HELP PALM SURVIVE?
Analysts see Palm's new Pre smart phone as something more than a
wannabe iPhone, but it really looks like nothing more than its popular
rival with a slide-out keypad, writes John Dvorak.
Dow finishes nearly 150 points lower after a dreary jobs report spooks investors.
Dow finishes nearly 150 points lower after a dreary jobs report spooks
investors.
Robert Rubin resigns from Citigroup: Wall Street Journal
Robert Rubin resigns from Citigroup: Wall Street Journal
1/9/2009 3:10:59 PM EDT
USnews
Obama to name intelligence appointments Friday, sources say
01/09/09 08:56 AM, EST
President-elect Barack Obama will announce Friday that he is naming
Leon Panetta as CIA director and Dennis Blair as director of national
intelligence, two officials close to the transition said.
Stem cell discovery could mean faster healing
01/09/09 08:34 AM, EST
Researchers have found a way to prompt bone marrow to release a flood
of certain stem cells which could help heart attack patients recover
faster.
Carnage continues with 524,000 jobs lost in December
Carnage continues with 524,000 jobs lost in December
The U.S. economy lost 524,000 jobs in December, closing out the worst
year for job losses since World War II, the Labor Department says.
RECESSION TO DEEPEN IN FIRST HALF: BOSTON FED CHIEF
The U.S. economic recession is set to deepen in the first half of the
year, but could begin to show signs of improvement later in the year,
Boston Federal Reserve Bank President Eric Rosengren said in a speech
late Thursday.
LEHMAN TO SPIN OUT PRIVATE EQUITY ARM -- WSJ
The private-equity arm of failed Wall Street brokerage Lehman Brothers
has reached a deal to be spun out as an independent entity, according
to a media report Thursday.
SATYAM SLUMPS AGAIN AS INVESTORS DUMP SHARES
Shares of Satyam Computer Services plunged for a second straight
session Fridayas worried investors dumped stocks in the wake of
reports that the software giant may be strapped for cash and some
clients are reviewing contracts.
Energy: Oil falls for fourth session after U.S. jobs data
Crude-oil futures fall Friday for a fourth consecutive session,
heading for a weekly loss of more than 11%, after government reports
showed that the U.S., the world's biggest oil consumer, lost the most
jobs in 2008 since World War II.
Energy: Russia, Ukraine inch closer to resolving gas deal
The CEO of Russia's state-controlled Gazprom said Friday his company
would allow international monitors to keep track of pipeline shipments
of natural gas leaving Russian territory and entering Ukraine.
Employers shed 524,000 jobs in December and 2.6 million in '08 - worst year since 1945, U.S. says. Unemployment rate spikes to 7.2%.
Employers shed 524,000 jobs in December and 2.6 million in '08 - worst
year since 1945, U.S. says. Unemployment rate spikes to 7.2%.
Thursday, January 08, 2009
Energy: Stocks in focus for Friday
Among the companies whose shares are expected to see active trade in
Friday's session are KB Home, MSCI, General Mills, and Chevron.
Markets Thursday, 01/8/2009
| Dow : 8742.46 down 27.24 | S & P : 909.73 up 3.08 |
|
| NASDAQ: 1617.01 up 17.95 | Bond (10Y): 2.44%, 111.38
MARKETS:
Stocks fight back
Wall Street cuts losses at the end of a choppy session on worries
about the consumer.
Billionaire investor Burkle bets on Whole Foods
Billionaire investor Burkle bets on Whole Foods
The investment fund run by Ron Burkle, who made a fortune investing in
supermarkets, hopes to find another payoff in Whole Foods Market, the
high-priced organic grocery chain that has fallen on hard times. See
full
story.
OBAMA WARNS OF DIRE CONSEQUENCES WITHOUT STIMULUS
President-elect Barack Obama urges Congress to get to work on a
massive stimulus plan of new spending and tax cuts, conceding that the
package would be costly in the short term but needed to head off dire
consequences for the
country.
OBAMA ASKS FOR DELAY IN DIGITAL TV SWITCH
The incoming Obama administration asks Congress to postpone the
nationwide switch to digital television, saying too many Americans
would lose their TV signals if the change takes place as planned in
mid-February.
COMMERCIAL PAPER CLAWS BACK TO PRE-LEHMAN LEVELS
Commercial paper volumes have rebounded to their levels before the
collapse of Lehman Bros. sent investors fleeing all but the safest
debt, new Federal Reserve data shows.
Oil settles 93 cents lower at $41.70 a barrel as more signs of economic weakness drag on demand.
Oil settles 93 cents lower at $41.70 a barrel as more signs of
economic weakness drag on demand.
Breaking news: Obama urges passage of stimulus plan
WASHINGTON (AP) - In his first speech since his election,
President-elect Barack Obama warned that the economy could become
"dramatically worse" if Congress doesn't enact a massive stimulus
program. He laid out goals of doubling the production of alternative
energy over three years, updating most federal buildings to improve
energy efficiency, making medical records electronic, expanding
broadband networks and updating schools and universities.
Energy: Canadian stocks decline, led by mining and jobs outlook
Equities in Canada edge higher, reversing earlier declines in tandem
with U.S. markets, a weak labor market outlook and falling oil prices.
U.S. stocks reduce losses as Sears offsets Wal-Mart damage
U.S. stocks reduce losses as Sears offsets Wal-Mart damage
U.S. stocks scale back early losses as Sears Holdings Corp.'s forecast
helps lift the Nasdaq Composite and offsets disappointment that came
after Wal-Mart Stores Inc. cut its earnings expectations.
RECESSION, JOB LOSSES SNOW ON RETAILERS' DECEMBER SALES
Severe winter storms before Christmas, coupled with the recession,
rising job losses and already worst consumer confidence on record,
snowed on retailers' sales in December, their biggest selling month of
the year.
TD AMERITRADE TO BUY THINKORSWIM FOR $606 MILLION
TD Ameritrade Holding said Thursday it has agreed to
buy online brokerage firm Thinkorswim Group in a deal valued at about
$606 million. TD Ameritrade is the industry leader in the number of
stock trades places each day, while Thinkorswim is the industry leader
in retail options trades. "This deal advances TD Ameritrade's growth
strategy for its active trader client segment by introducing new
trading functionality for traders, including advanced options trading,
futures, foreign exchange trading and
portfolio margining," said the company in a statement. Shares of TD
Ameritrade closed at $13.48 Wednesday, while Thinkorswim stock closed
at $5.65.
ECONOMIC REPORT: INITIAL JOBLESS CLAIMS FALL; CONTINUING CLAIMS
HIGHEST SINCE 1982
First-time applications for state unemployment benefits fall 24,000 to
a seasonally-adjusted 467,000 in the week ending Jan. 3, the Labor
Department saysThursday.
BANK OF ENGLAND CUTS KEY INTEREST RATE TO ALL-TIME LOW
The Bank of England drops its benchmark interest rate to the lowest
level since the central bank's founding in 1694, as policy makers fire
yet another salvo in
the battle against a deep and potentially lengthy recession.
Obama takes campaign for massive economic rescue plan to the public amid 'crisis unlike any we have seen in our lifetime.'
Obama takes campaign for massive economic rescue plan to the public
amid 'crisis unlike any we have seen in our lifetime.'
Breaking News
Gazprom says it will resume pumping gas through Ukraine once EU
monitors are in place.
U.S. benchmark mortgage rate falls for 10th straight week
U.S. benchmark mortgage rate falls for 10th straight week
1/8/2009 10:21:25 AM EDT
Energy: Petroleum shares gains despite red ink in broad market
Shares of petroleum producers and refiners rose Thursday as the group
regained its footing after big losses in the previous session, despite
lower oil prices and plenty of red ink in the broad market.
Energy: Market down for 2nd day as rockets hit northern Israel
Israeli stocks fall for a second day on Thursday, with sharp and broad
declines across a number of sectors and 24 of the 25 blue chips
falling, as Israel faces the prospect of a second front in its current
conflict.
Dow industrials down 100, pacing Thursday-morning stock-market retreat
Dow industrials down 100, pacing Thursday-morning stock-market retreat
1/8/2009 9:54:25 AM EDT
Energy: Oil futures extend decline amid economic worries
Oil futures extend their decline early Thursday, as the government
reports that continuing jobless claims hit their highest level since
1982, highlighting the dire state of the U.S. economy.
Bank of England cuts rates half point to 1.5%, lowest in over 300 years
Bank of England cuts rates half point to 1.5%, lowest in over 300 years
1/8/2009 7:00:36 AM EDT
Number of people filing for first-time unemployment benefits fell last week by 24,000 to 467,000.
Number of people filing for first-time unemployment benefits fell last
week by 24,000 to 467,000.
Wednesday, January 07, 2009
Energy: Stocks in focus for Thursday
Among the companies whose shares are expected to see active trade in
Thursday's session are Lawson, Chevron, EMC, Crucell and Wyeth.
Tech: Intel leads broad tech losses after warning
Tech Stocks: Intel leads broad tech losses after warning
1/7/2009 4:27 PM ET
Technology stocks close with broad losses as a revenue warning issued
by Intel Corp. and a fraud committed by one of India's largest
technology services companies highlight a dismal day in the sector.
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Microsoft wins vaunted Verizon mobile search deal
1/7/2009 5:43 PM ET
Microsoft Corp. has bested rivals Google Inc. and Yahoo Inc. by
securing an agreement to become the default provider of Internet
search service to mobile phone customers of Verizon Wireless.
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EMC reports preliminary results, plans to cut 2,400 jobs
1/7/2009 5:14 PM ET
EMC reports preliminary fourth-quarter results that are in line with
its earlier forecasts and says that it would cut 2,400 jobs along with
the salaries of Chief Executive Joe Tucci and other top executives as
it move to cut costs.
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As other Clearwire backers get stung, eyes turn to Google
1/7/2009 4:28 PM ET
Strategic investors in Clearwire Corp. post a flurry of bad news
related to their stakes in the wireless services company, drawing
attention to one of its other more prominent backers: Google Inc.
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Satyam shares crash in Mumbai after $1 billion overstatement
1/7/2009 4:14 PM ET
Shares of Satyam Computer Services crash 77% in Mumbai, after the
founder and chairman of India's fourth-largest software company
resigns, saying the company had inflated its cash and bank balances on
the balance sheet by more than $1 billion.
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Intel cuts fourth-quarter sales target again
1/7/2009 4:12 PM ET
Intel Corp. again cuts its fourth-quarter sales outlook, underscoring
the stunning drop in demand in the personal computer market amid a
weakening global economy.
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CES reporter's notebook: LG goes 007 with watch phone
1/7/2009 1:09 PM ET
Kicking off the first major press conference at the Consumer
Electronics Show, LG Electronics also debuted the first buzz-worthy
product of the event: a touch-screen cell phone built into a watch.
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Israel Stocks: Tel Aviv in broad retreat, snapping seven-session win streak
1/7/2009 10:52 AM ET
Israel stocks snap a seven-session winning streak, as investors sell
shares of Israel Chemicals, drug shares, Oil Refineries Ltd., and
Elbit Systems lower.
Investors discount conflict with Hamas in the Gaza Strip.
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China awards 3G licenses to domestic mobile operators
1/7/2009 9:41 AM ET
China issues the first of its long-awaited licenses for
third-generation mobile phones, with the licenses going to three
state-owned mobile phone operators, state-run Xinhua news agency said.
Markets Wednesday, 01/7/2009
| Dow : 8769.70 down 245.40 | S & P : 906.65 down 28.05 |
| NASDAQ: 1599.06 down 53.32 | Bond (10Y): 2.49%, 110.84
MARKETS:
Recession woes deck Wall Street
Stocks slump on jobs jitters, Alcoa job cuts and Intel profit warning.
Oil skids on bigger-than-expected crude inventories.
U.S. stocks end sharply lower; worst day for Dow since Dec. 1
U.S. stocks end sharply lower; worst day for Dow since Dec. 1
Stocks thud lower, with the Dow dropping the most since Dec. 1, as
investors confront more evidence of a deteriorating labor market and
downbeat news from metals giant Alcoa Corp. and technology bellwether
Intel Corp.
BAILOUT FUND INSPECTOR GIVEN OVERSIGHT POWER
Citigroup Inc., General Motors and Chrysler have agreed to account for
how theyare using billions of dollars invested in their corporations
by the Treasury
Department as part of a $700 billion bank bailout fund, according to the
inspector general overseeing the program.
FUTURES MOVERS: OIL TUMBLES 12%, THE MOST IN SEVEN YEARS AS INVENTORIES JUMP
Crude-oil futures tumble 12%, marking their biggest one-day percentage
drop in more than seven years, after government reports show U.S.
crude inventories jumped last week and as data indicate deteriorating
troubles in the economy.
MILLIONAIRES JOIN THE REST OF US IN FEELING THE ECONOMIC HEAT
An overwhelming majority of Americans 45 years and older think the economy is
in dire straits. That's not limited to those who live paycheck to paycheck
either. A record 80% of millionaires polled in another survey said this is the
worst financial crisis they have ever experienced.
CES REPORTER'S NOTEBOOK: LG GOES 007 WITH WATCH PHONE
Kicking off the first major press conference at the Consumer Electronics Show,
LG Electronics also debuted the first buzz-worthy product of the event: a
touch-screen cell phone built into a watch.
Dow tumbles more than 240 points after dismal job numbers spark a fresh wave of pessimism.
Dow tumbles more than 240 points after dismal
job numbers spark a fresh wave of pessimism.
Oil settles more than 12% lower to $42.63 a barrel - largest percentage decline since September 2001 - as demand worries flare.
Oil settles more than 12% lower to $42.63 a barrel - largest
percentage decline since September 2001 - as demand worries flare.
Dow sinks more than 200 points after gloomy job figures spread fear ahead of Friday's unemployment report.
Dow sinks more than 200 points after gloomy job figures spread fear
ahead of Friday's unemployment report.
USnews
Real estate power broker dead of apparent suicide
01/07/09 11:28 AM, EST
One of Chicago's most well-known real estate moguls appears to have
shot himself to death, police said.
Coming up in January: Business Traveller airport special
01/07/09 10:30 AM, EST
They are often the bane of our traveling lives. But they are often the
place where we feel the holiday has really begun.
iPhoto update helps show merits of geotagging
01/07/09 09:55 AM, EST
With its launch of iPhoto 09, Apple has begun showing some reasons why
it's worth enduring the hassle of geotagging your photos.
U.S. expects $1.2 trillion budget deficit in fiscal 2009
U.S. expects $1.2 trillion budget deficit in fiscal 2009
The U.S. government will run a $1.2 trillion budget deficit in fiscal
2009, the Congressional Budget Office says, offering a stark
assessment of the red ink facing the country and the incoming
administration of President-elect Barack Obama.
ECONOMIC REPORT: ADP DATA SHOW 693,000 PRIVATE-SECTOR JOBS LOST IN DECEMBER
U.S. private-sector firms shed 693,000 jobs in December, far worse
than expected, according to the ADP employment index.
MARKET SNAPSHOT: U.S. STOCKS PLUNGE AFTER GRIM JOBS DATA
Stocks decline sharply as another report points to a further
deterioration of the labor market, while metals giant Alcoa announces
job cuts and technology bellwether Intel warns about its outlook.
ALCOA SLASHES JOBS, OUTPUT TO COPE WITH TOUGH ECONOMY
Alcoa Inc. says it is cutting 13,500 jobs, closing plants and further
curbing aluminum output to conserve cash as it battens down for a
lengthy recession.
TIME WARNER SEES NET LOSS IN 2008
Time Warner Inc. on Tuesday said it will incur more
than $25 billion in onetime costs, resulting in a net loss for all of
2008. The company also trimmed its forecast for adjusted operating
income.
WorldNews
Woman dies of bird flu in China
01/07/09 12:29 AM, EST
A 19-year-old woman who handled ducks in northern China has died in
Beijing from bird flu, the World Health Organization said
Brain implant better than meds for Parkinson's disease
01/06/09 08:58 PM, EST
People with Parkinson's disease who have a pacemaker-like device
implanted in the brain spend an extra four-plus hours a day free of
tremors and involuntary movements than they do on medication,
according to the largest study of the treatment, which is known as
deep brain stimulation.
Blackwater defendants plead not guilty
01/06/09 08:47 PM, EST
Five former Blackwater Worldwide security guards pleaded not guilty
Tuesday to voluntary manslaughter charges and other crimes stemming
from a shooting incident in Baghdad that left 17 Iraqis dead.
NATO-led soldier killed in Afghanistan
01/06/09 08:41 PM, EST
A member of the NATO-led force in Afghanistan has been killed in the
country's volatile south, the International Security Assistance Force
said.
Al Qaeda message blames Obama, Egypt for Gaza violence
01/06/09 07:41 PM, EST
An audio message reportedly from al Qaeda's deputy chief vows revenge
for Israel's air and ground assault on Gaza and calls the Jewish
state's actions against Hamas militants "a gift" from U.S.
President-elect Barack Obama.
Israel to open 'humanitarian corridor' for Gaza aid
01/06/09 06:30 PM, EST
Israel has agreed to establish a "humanitarian corridor" to supply
residents of Gaza with aid as international concerns about conditions
among civilians mount, according to a government statement.
Obama will ban earmarks from stimulus bill
01/06/09 06:24 PM, EST
Members of Congress won't be allowed to slip earmarks into the
economic recovery package Congress will soon take up, President-elect
Barack Obama said Tuesday.
Venezuela expels Israeli ambassador
01/06/09 06:04 PM, EST
Venezuela expelled Israel's ambassador to the country Tuesday and
accused Israel of attempting to carry out "genocide" against the
Palestinian people.
Sources: CNN's Gupta approached for surgeon general
01/06/09 04:38 PM, EST
The Obama transition team approached Dr. Sanjay Gupta, CNN's chief
medical correspondent, about becoming U.S. surgeon general, according
to sources inside the transition and at CNN.
Panetta pick as CIA chief under fire
01/06/09 04:14 PM, EST
Could someone without intelligence experience effectively lead the
United States' top spy agency, particularly in a time of war?
Energy: Bearish oil, jobs data send energy stocks sharply lower
Energy: Bearish oil, jobs data send energy stocks sharply
Energy stocks are clipped by a 175-point opening drop by the Dow Jones
Industrials Average and a steep $3 drop in oil prices following a
report of bearish supply data.
Energy: Tel Aviv in broad retreat, snapping seven-session win streak
Israel stocks snap a seven-session winning streak, as investors sell
shares of Israel Chemicals, drug shares, Oil Refineries Ltd., and
Elbit Systems lower. Investors discount conflict with Hamas in the
Gaza Strip.
Oil prices tumble after government reports much bigger-than-expected surge in crude and gasoline inventories.
Oil prices tumble after government reports much bigger-than-expected
surge in crude and gasoline inventories.
Energy: Oil falls on expectations U.S. inventories had risen
Crude-oil futures come under pressure for a second session, on
expectations that data will show higher U.S. petroleum inventories
last week.
Stocks open sharply lower after worse-than-expected job reports; techs under pressure after Intel warns; Dow hurt by Alcoa job cuts.
Stocks open sharply lower after worse-than-expected job reports; techs
under pressure after Intel warns; Dow hurt by Alcoa job cuts.
U.S. budget deficit in 2009 will rise to record $1.2 trillion, or 8.3% of GDP, not counting any Obama stimulus, government estimates.
U.S. budget deficit in 2009 will rise to record $1.2 trillion, or 8.3%
of GDP, not counting any Obama stimulus, government estimates.
Private-sector jobs fell 693,000 in December - much worse than expected - says payroll-processing firm ADP.
Private-sector jobs fell 693,000 in December - much worse than
expected - says payroll-processing firm ADP.
Tuesday, January 06, 2009
Tech: Semiconductor stocks lead sector rally; Apple slides
Tech Stocks: Semiconductor stocks lead sector rally; Apple slides
1/6/2009 4:15 PM ET
Most technology stocks post gains as the broader market advances on a
rally in energy shares.
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Apple makes final appearance at Macworld
1/6/2009 5:33 PM ET
Apple Inc. begins its swan song at the Macworld Expo with the absence
of Chief Executive Steve Jobs hanging over the proceedings, as the
company unveils changes in pricing and copy protections for songs
available through its iTunes store.
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Israel Stocks: Market higher for 7th day; supermarkets in focus
1/6/2009 10:59 AM ET
Israeli stocks close with a seventh day of gains, as most major
sectors and blue chips advance and shares in the real-estate group
show particular strength.
Markets Tuesday, 01/6/2009
U.S. Stock Markets:
DOW9,015.10
+62.21+0.69%
_________________
NASDAQ1,652.38
+24.35+1.50%
_________________
S&P934.70
+7.25+0.78%
_________________
10YR110 26/32
-6/32Yield: 2.5%
_________________
5:15 PM ET, 1/6/2009
Stocks recharge rally
Stocks rallied Tuesday as investors looked beyond the Federal
Reserve's dour outlook on the economy and instead scooped up shares
hit in last year's big selloff.
After the Bell: Alcoa slashes jobs, output to cope with tough economy
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Alcoa slashes jobs, output to cope with tough economy
Alcoa Inc. said Tuesday it is cutting 13% of its
workforce, closing plants, and further curbing aluminum output to
conserve cash as it battens down for a lengthy recession.
BANK OF AMERICA CEO SEES 2008 RESULTS BELOW EXPECTATIONS
Bank of America Chief Executive Kenneth Lewis warns that 2008 results
will fall short of expectations and says executives at the giant
lender, including himself, shouldn't get bonuses for last year,
according to a report.
THE FED: FOMC SAW SPECTER OF DEPRESSION, DEFLATION
Members of the Federal Open Market Committee at their mid-December
meeting saw increasing risks of depression and deflation as they
grappled with employing
new tools to stabilize an economy that was rapidly weakening,
according to truncated minutes of the meeting.
NEW CONGRESS ARRIVES WITH EYE ON OBAMA'S STIMULUS PACKAGE
A new, more Democrat-heavy Congress is sworn in to office with
economic stimulus as its top priority, as lawmakers and
President-elect Barack Obama aim for quick action to jolt the sagging
U.S. economy.
After the Bell: Alcoa slashes jobs, output to cope with tough economy
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Alcoa slashes jobs, output to cope with tough economy
Alcoa Inc. said Tuesday it is cutting 13% of its
workforce, closing plants, and further curbing aluminum output to
conserve cash as it battens down for a lengthy recession.
BANK OF AMERICA CEO SEES 2008 RESULTS BELOW EXPECTATIONS
Bank of America Chief Executive Kenneth Lewis warns that 2008 results
will fall short of expectations and says executives at the giant
lender, including himself, shouldn't get bonuses for last year,
according to a report.
THE FED: FOMC SAW SPECTER OF DEPRESSION, DEFLATION
Members of the Federal Open Market Committee at their mid-December
meeting saw increasing risks of depression and deflation as they
grappled with employing
new tools to stabilize an economy that was rapidly weakening,
according to truncated minutes of the meeting.
NEW CONGRESS ARRIVES WITH EYE ON OBAMA'S STIMULUS PACKAGE
A new, more Democrat-heavy Congress is sworn in to office with
economic stimulus as its top priority, as lawmakers and
President-elect Barack Obama aim for quick action to jolt the sagging
U.S. economy.
Alcoa announces 13,500 job cuts - 13% of worldwide workforce. Freezes salaries and cuts capital expenses by 50%.
Alcoa announces 13,500 job cuts - 13% of worldwide workforce. Freezes
salaries and cuts capital expenses by 50%.
Dow closes over 60 points higher as New Year optimism breathes life into battered tech and financial stocks.
Dow closes over 60 points higher as New Year optimism breathes life
into battered tech and financial stocks.
Breaking News Tue., January 6, 2009
Barack Obama Taps CNN's Dr. Sanjay Gupta for Surgeon General [3:30 p.m. ET]
FOMC members discussed mounting risks of deflation, depression at mid-December meeting
FOMC members discussed mounting risks of deflation, depression at
mid-December meeting
1/6/2009 2:07:52 PM EDT
Federal Reserve forecasted continued economic decline in 2009, steep unemployment rise into 2010.
Federal Reserve forecasted continued economic decline in 2009, steep
unemployment rise into 2010.
Oil settles 23 cents lower at $48.58 a barrel as dismal economic news offsets supply fears.
Oil settles 23 cents lower at $48.58 a barrel as dismal economic news
offsets supply fears.
Fwd: Energy: Market higher for 7th day; supermarkets in focus
Israeli stocks close with a seventh day of gains, as most major
sectors and blue chips advance and shares in the real-estate group
show particular strength.
Energy: Canadian stocks gain, led by metals and mining
Canadian stocks gain, as crude prices surpass $50 a barrel for the
first time in five weeks, aiding shares of energy-related companies.
U.S. stocks lose steam as rally in crude-oil futures fades
U.S. stocks lose steam as rally in crude-oil futures fades
U.S. stocks pare an early rise as a rally in energy shares loses steam
as crude-oil futures dip to under $49 a barrel and as investors digest
new data that largely confirm a bleak view of the nation's economy.
TALKS TO RESUME BETWEEN RUSSIA, UKRAINE, REPORTS SAY
Ukraine and Russia will reportedly resume talks later this week to
resolve their energy dispute, which has resulted in sharp decreases in
natural-gas imports in several countries in Eastern and Central
Europe.
FUTURES MOVERS: OIL DROPS AS DEMAND CONCERNS OUTWEIGH PRODUCTION CUTS
Crude-oil futures fall after earlier topping $50 a barrel for the
first time infive weeks, as demand concerns outweigh signs that OPEC
will move forward with production cuts.
SOUTH KOREA TO SPEND 37 BILLION ON 'GREEN' PROJECTS
South Korea said on Tuesday said it would spend 50 trillion won ($38
billion) during the next four years on environmentally-friendly
projects in an effort to bolster employment as the nation undergoes
its sharpest slowdown since the 1998 Asian financial upheaval.
TOYOTA ANNOUNCES MORE TEMPORARY JAPAN PLANT SHUTDOWNS
Toyota Motor Corp. will shutter factories in Japan
for a combined 11 days during February and March to in an effort to
reduce capacity amid the global slowdown, according to reports
Tuesday.
Energy: Broad gains for energy sector; Chevron outpaces blue chips
Energy stocks get carried higher as crude-oil futures breach the
$50-a-barrel level.
Demand for factory goods fell for the 4th month in a row, sinking a much-worse-than-expected 4.6% in November.
Demand for factory goods fell for the 4th month in a row, sinking a
much-worse-than-expected 4.6% in November.
Energy: European gas supplies hit as Russia-Ukraine dispute escalates
Countries in Eastern and Central Europe report sharp decreases in
natural-gas imports, an offshoot of Russian energy giant OAO Gazprom's
move to cut supplies to Ukraine in a price dispute.
Realtor's group reports number of homes under contract to be sold fell 4% in November - lowest level since 2001.
Realtor's group reports number of homes under contract to be sold fell
4% in November - lowest level since 2001.
Energy: Crude reclaims $50 amid OPEC output cuts, Gaza fighting
Crude-oil futures extend Monday's rally, reclaiming the $50-a-barrel
mark for the first time since the end of November. Serving as
catalysts are evidence that OPEC's putting into effect announced
production cuts as well as heightened tensions in the Middle East
tied to Israel's ground offensive against Hamas in the Gaza Strip.
U.S. stocks rise early Tuesday; Dow industrials up as much as 80 points; crude tops $50
U.S. stocks rise early Tuesday; Dow industrials up as much as 80
points; crude tops $50
1/6/2009 9:42:15 AM EDT
Monday, January 05, 2009
News Alert!
Hundreds in Afghanistan protest Gaza incursion
01/05/09 08:48 PM, EST
Hundreds of people in southern Afghanistan have burned Israeli flags
and shouted anti-Israel and anti-American slogans to protest Israel's
military action in Gaza.
Breaking News
The Israeli military says three of its soldiers have died as a result
of "friendly fire" from a tank in northern Gaza.
Tech: Apple stock a lone winner as tech sector slumps
Tech Stocks: Apple stock a lone winner as tech sector slumps
1/5/2009 4:33 PM ET
Most technology stocks slide, but Apple shares rally after Steve Jobs
declares. he's healthy enough to stay on as CEO.
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Therese Poletti's Tech Tales: Macworld won't be the same without Apple
or Steve Jobs
1/5/2009 5:59 PM ET
Shareholders deserve more information than what
Apple Inc. chief executive Steve Jobs was willing to disclose about
his health Monday.
-----------------------------------------------------------------
Analyst sees chips rebound 'a few months away'
1/5/2009 4:15 PM ET
Semiconductor stocks rise after a Wachovia analyst says that an
industry rebound is "a few months away."
-----------------------------------------------------------------
Apple's Jobs addresses health concerns on eve of Macworld
1/5/2009 4:14 PM ET
Apple Inc. founder Steve Jobs is suffering from a "hormone imbalance"
that's caused him to steadily lose weight, but he says he's healthy
enough to continue
as the company's chief executive -- for now.
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AT&T, Verizon tumble on dour forecast
1/5/2009 2:15 PM ET
Giant U.S. phone companies AT&T Inc. and Verizon Communications Inc.
have been seen by anxious investors as a near-term oasis for their
money, but an influential analyst says such a view might be a mirage.
-----------------------------------------------------------------
Telecom Stocks: AT&T, Verizon decline; vendors higher
1/5/2009 12:34 PM ET
Shares of AT&T Inc. and Verizon Communications Inc.
fell sharply Monday after a brokerage cut its rating on both phone
companies, saying the recession and a saturated U.S. wireless market
are likely to retard growth in 2009.
Markets Monday, 01/5/2009
| Dow : 8952.89 down 81.80 | S & P : 927.45 down 4.35 |
| NASDAQ: 1628.03 down 4.18 | Bond (10Y): 2.48%, 111.00
MARKETS:
Stocks finish lower
Markets churn on auto sales, surging oil and Obama stimulus. Dow ends
below 9,000.
After the Bell: U.S. stocks finish down for first session in four
U.S. stocks finish down for first session in four
U.S. stocks fall as automakers report declining car sales and as
investors contend with underlying anxiety before Friday's jobs report.
AUTOMAKERS END YEAR WITH BIG SALES DROPS IN DECEMBER
Ford and General Motors report that December U.S. vehicle sales are
off more than 30% each, closing the books on one of the toughest years
the domestic auto industry has ever seen.
APPLE'S JOBS ADDRESSES HEALTH CONCERNS ON EVE OF MACWORLD
Apple Inc. founder Steve Jobs is suffering from a "hormone imbalance"
that's caused him to steadily lose weight, but he says he's healthy
enough to continue as the company's chief executive -- for now.
MARKETWATCH PERSONAL FINANCE
http://www.marketwatch.com/pf/?siteid=nwtpm
AUTO REVIEW: THE BEST CARS OF 2008, INCLUDING THE CAR OF THE YEAR
MarketWatch auto reviewer Ron Amadon selects the top cars from among those he
test drove this year. See full story.
http://www.marketwatch.com/News/Story/Story.aspx?guid=93a891fbbe9d44a2b1d2a4b66e1f457b&siteid=nwtpm&sguid=En4PdJsrg0Wxj6iEMEUscg
-----------------------------------------------------------------
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News Alert!
Officials: Panetta to be tapped for CIA director
01/05/09 03:11 PM, EST
Leon Panetta, chief of staff in President Clinton's White House, will
be President-elect Barack Obama's choice to be director of the CIA.
Stocks fall as investors mull dismal auto sales numbers, Obama's stimulus plans and rising oil prices.
Stocks fall as investors mull dismal auto sales numbers, Obama's
stimulus plans and rising oil prices.
Oil rises $2.47 to settle at $48.81 a barrel as Middle East tensions flare.
Oil rises $2.47 to settle at $48.81 a barrel as Middle East tensions flare.
Chrysler reports sales plummeted 53% in December.
Chrysler reports sales plummeted 53% in December.
Breaking News Mon., January 5, 2009
Former Congressman, Leon Panetta, Tapped by Obama to Head CIA. [2:47 p.m. ET]
Ford U.S. December sales down 32.4%
Ford U.S. December sales down 32.4%
1/5/2009 12:49:11 PM EDT
Ford Motor reports a 32% drop in December auto sales - slightly better than expected.
Ford Motor reports a 32% drop in December auto sales - slightly better
than expected.
Apple's Jobs addresses health concerns on eve of Macworld
Apple's Jobs addresses health concerns on eve of Macworld
Apple Inc. founder Steve Jobs is suffering from a "hormone imbalance"
that's caused him to steadily lose weight, but he says he's healthy
enough to continue as the company's chief executive -- for now.
ECONOMIC REPORT: U.S. CONSTRUCTION SPENDING FALLS 0.6% IN NOVEMBER
Outlays for construction projects in the United States fall a
seasonally adjusted annual rate of 0.6% in November, undermined by a
drop in outlays on home construction, government data show.
Energy: Oil futures fall, as U.S. dollar rises vs. rivals
Oil futures fell more than 1% early Monday, coming under pressure as
the U.S. dollar rallied against other major currencies.
Stocks open lower as investors digest Obama's stimulus plan and await the latest reading on December auto sales.
Stocks open lower as investors digest Obama's stimulus plan and await
the latest reading on December auto sales.
International
TOP STORIES as of 1000 GMT -- 05 January, 2009
ISRAEL POUNDS GAZA AS HAMAS ROCKET FIRE CONTINUES
Hamas rocket fire into southern Israel persists despite a now
10-day campaign of Israeli airstrikes and two nights of ground
combat in northern Gaza.
DOCTOR IN GAZA: PATIENTS 'LYING EVERYWHERE'
Gaza's main hospital, already overloaded with Palestinians
wounded in the week-long Israeli air assault, has reached
critical mass, according to a Norwegian doctor volunteering at
Shifa Hospital.
THAI CLUB OWNER CHARGED OVER DEADLY FIRE
Thai police charge a Bangkok nightclub owner in connection with
a New Year's Eve fire that claimed the lives of at least 64
people, police said.
INDIA HANDS MUMBAI ATTACKS FILE TO PAKISTAN
India says it has handed evidence it says links the November
massacre in Mumbai to "elements in Pakistan" over to Pakistani
government officials.
EX-COMIC FRANKEN SET TO WIN U.S. SENATE RACE
An election board is expected to announce on Monday that
Democrat Al Franken has defeated Republican incumbent Norm
Coleman in Minnesota's U.S. Senate race, state officials say.
RICHARDSON HANDS OBAMA CABINET VACANCY
U.S. President-elect Barack Obama has a Cabinet seat to fill
after New Mexico Gov. Bill Richardson announced he was
withdrawing his nomination to be commerce secretary.
10-YEAR-OLD GIRL KILLED IN INDONESIA QUAKE
A 10-year-old girl was killed and 35 other people wounded in a
major earthquake near the north coast of West Papua, Indonesia,
government officials said.
EUROPEAN MARKETS FOLLOW ASIA HIGHER
Major markets in Europe and Asia open higher at the start of the
first full trading week of 2009.
------------------------------------------------
BUSINESS
WALL STREET BRACES FOR BAD NEWS
Wall Street opens Monday to start the first full week of trading
after a classic holiday rally on Friday. But the weeks ahead
will prove the true test, as market pros return to digest a
barrage of bad economic news and corporate profit warnings.
GAZPROM FILES LAWSUIT OVER GAS DISPUTE
Russian energy giant Gazprom, in the midst of a standoff with
Ukraine over payments for gas, has filed a lawsuit to stop what
it claims is illegal siphoning, chief executive Alexey Miller,
pictured, says.
AUSTRIA TAKES OVER BANK HIT BY MADOFF CASE
The Austrian government has taken control of a private bank with
significant exposure to the alleged fraud by Bernard Madoff.
Austria's market regulator, the FMA, installed a supervisor to
take control of Bank Medici, saying the move would address the
danger that the bank would not be able to pay its creditors.
Energy: Natural gas stocks lead gains as hot streak continues
Shares of natural gas and petroleum producers extended their hot
streak on Monday as the sector tapped into a rise in oil prices in
recent weeks.
Apple CEO Steve Jobs says a hormone imbalance is causing his weight loss. Will continue as CEO during recovery.
Apple CEO Steve Jobs says a hormone imbalance is causing his weight
loss. Will continue as CEO during recovery.
Sunday, January 04, 2009
International
TOP STORIES as of 0900 HKT -- 05 January, 2009
DOCTOR IN GAZA: PATIENTS 'LYING EVERYWHERE'
Gaza's main hospital, already full of Palestinians wounded in
the week-long Israeli air assault, reached critical mass on
Sunday, according to a Norwegian doctor at Shifa Hospital.
PALESTINIAN SOURCES: DEATH TOLL TOPS 500
Palestinian medical sources say Israeli forces have killed 37
Palestinians -- both civilians and militants -- since moving
into the territory Saturday night. With those deaths, at least
507 Palestinians, including about 100 women and children, have
been killed in the week-long military operation, and 2,600
Palestinians have been injured, most of them civilians, sources
said.
EU, RUSSIA SENDING DELEGATIONS TO MIDEAST
International envoys scrambled to the Middle East Sunday to try
to end an Israeli assault on Gaza in response to months of
rocket fire from Palestinians.
BILL RICHARDSON BOWS OUT AS COMMERCE NOMINEE
New Mexico Gov. Bill Richardson is withdrawing his nomination to
be commerce secretary, he and President-elect Barack Obama said
in statements Sunday.
DOZENS KILLED IN IRAQI PILGRIMAGE BOMBING
A suicide bomber killed at least 37 people and injured 53 --
many of them women -- during a Shia pilgrimage in northwestern
Baghdad Sunday,.
HUGE QUAKE KILLS AT LEAST 2, INJURES 35
A major earthquake struck Sunday near the northern coast of West
Papua, Indonesia, the U.S. Geological Survey said.
PAKISTAN SUICIDE BOMBING KILLS SIX
A small explosion struck a cafe in northwestern Pakistan Sunday
evening and, as police gathered to investigate, a suicide bomber
detonated his explosives, killing six people, according to local
police and the town's mayor.
-------------------------------------------------
BUSINESS
GAZPROM FILES LAWSUIT OVER GAS DISPUTE
Russian energy giant Gazprom, in the midst of a standoff with
Ukraine over payments for gas, has filed a lawsuit to stop what
it claims is illegal siphoning, chief executive Alexey Miller,
pictured, says.
AUSTRIA TAKES OVER BANK HIT BY MADOFF CASE
The Austrian government has taken control of a private bank with
significant exposure to the alleged fraud by Bernard Madoff.
Austria's market regulator, the FMA, installed a supervisor to
take control of Bank Medici, saying the move would address the
danger that the bank would not be able to pay its creditors.
WALL STREET STARTS YEAR WITH A BANG
Stocks rallied today, with investors starting off the new year
on the right foot after an abysmal 2008. The Dow closed above
9,000 for the first time since November. Analysts and investors
are cautiously optimistic that Wall Street will recover some in
2009, but the extent of any recovery will depend on a variety of
factors.
