Friday, January 29, 2010
Markets, Friday, 01/29/2010
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| Dow : 10067.33 down 53.13 | S & P : 1073.87 down 10.66 |
| NASDAQ: 2147.35 down 31.65 | Bond (10Y): 3.58%, 98.28
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MARKETS:
Nasdaq battered as techs slump
Stocks fall to three-month lows as Wall Street abandons the earlier
rally following stronger-than-expected GDP report.
Stocks tumble, with the tech and commodity shares leading the way lower. Dow drops 60 points, Nasdaq and S&P 500 down more than 1%.
Stocks tumble, with the tech and commodity shares leading the way
lower. Dow drops 60 points, Nasdaq and S&P 500 down more than 1%.
January Barometer forecasts a down 2010
JANUARY BAROMETER FORCASTS A DOWN 2010
It's likely that January will be a down month for the stock market,
thereby triggering a negative signal from the venerable January
Barometer.
UPDATES, ADVISORIES AND SURPRISES
A roundup of the latest corporate earnings reports and what companies
are saying about future quarters.
MICROSOFT IN FOCUS AFTER PROFIT JUMPS 60%
Microsoft Corp. posts a 60% gain in fiscal second-quarter profit,
benefiting from improved personal computer sales and the recent
release of its flagship Windows 7 operating system.
AMAZON SHARES RISE ON STRONG RESULTS
Amazon.com Inc. reports a 70%-plus increase in fourth-quarter earnings
thanks to strong holiday sales of media products, electronics and
other items.
FRIDAY'S BIGGEST GAINING AND DECLINING STOCKS
Stocks seeing significant moves in Friday's markets include,
Amazon.com, Autoliv and Mattel.
Consumer sentiment hits two-year high, Reuters/University of Michigan survey shows
Consumer sentiment hits two-year high, Reuters/University of Michigan
survey shows
01/29/2010 10:02:26 AM EDT
Stocks open higher after government reports economy grew in the fourth quarter at its fastest pace in 6 years. Dow gains 33 points.
Stocks open higher after government reports economy grew in the
fourth quarter at its fastest pace in 6 years. Dow gains 33 points
The U.S. economy grew at 5.7% annual rate in the fourth quarter of 2009 -- fastest pace of increase in more than six years.
The U.S. economy grew at 5.7% annual rate in the fourth quarter of
2009 -- fastest pace of increase in more than six years.
Thursday, January 28, 2010
Markets, Thursday, 01/28/2010
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| Dow : 10120.46 down 115.70 | S & P : 1084.53 down 12.97 |
| NASDAQ: 2179.00 down 42.41 | Bond (10Y): 3.64%, 97.78
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MARKETS:
Stocks get hammered
Dow and S&P 500 close at almost three-month lows, Nasdaq at a 2-month
low as investors dump techs after Qualcomm and Motorola's forecast.
Breaking News: Bernanke wins second term as Fed chairman
WASHINGTON - The Senate has confirmed Ben Bernanke for a second term
as chairman of the Federal Reserve with a 70-30 vote on Thursday. The
vote came amid criticism of his judgment ahead of the financial crisis
and his support for massive Wall Street bailouts. His supporters
credited him for engineering a financial industry rescue in time to
prevent a catastrophic collaps
U.S. stocks slump, with technology leading the losses; Dow closes down 116 points
U.S. stocks slump, with technology leading the losses; Dow closes down
116 points
01/28/2010 04:03:40 PM EDT
Senate votes to raise cap on government borrowing by $1.9 trillion to a record $14.294 trillion. Measure must now be OK'd by House.
Senate votes to raise cap on government borrowing by $1.9 trillion to
a record $14.294 trillion. Measure must now be OK'd by House.
U.S. stocks fall as Apple, Qualcomm set sour tone
U.S. STOCKS FALL AS APPLE, QUALCOMM SET SOUR TONE
U.S. stocks drop Thursday, pulled down by disappointment in the
technology sector over Apple's new tablet computer and Qualcomm's
sales outlet, and economic data showing smaller-than-expected
improvements.
OBAMA WON'T QUIT ON HEALTH, JOBS, BIPARTISANSHIP
President Barack Obama has a lot in common with his fellow countrymen
-- he's had a pretty rough year.
OBAMA STRESSES JOBS IN STATE OF THE UNION SPEECH
Speaking in a high-stakes policy address, President Barack Obama uses
his first State of the Union speech to call for a host of job creation
measures and a redoubled effort to finish health-care reform in the
midst of a newly challenging political environment for him and his
party.
WHAT'S IN OBAMA'S MIDDLE-CLASS PLAN FOR YOU?
President Obama's proposed initiatives aimed at bringing peace of mind
back to middle- and low-income earners won't do much to stimulate the
economy and in general don't help the unemployed but could represent a
tiny beacon for many. struggling Americans in this recessionary storm.
INITIAL JOBLESS CLAIMS REMAIN ELEVATED
First-time filings for state unemployment benefits remained elevated
in the latest week, according to data released Thursday, surprising
economists who had expected a sharp downturn.
U.S. first-time jobless claims still elevated, off 8,000 to 470,000 last week
U.S. first-time jobless claims still elevated, off 8,000 to 470,000 last week
01/28/2010 08:33:43 AM EDT
International Headline News
TOP STORIES as of 1000 GMT -- 28 January, 2010
> OBAMA: 'I NEVER SUGGESTED THAT CHANGE WOULD BE EASY'
In his State of the Union speech, U.S. President Barack Obama
defended his campaign theme, saying "Democracy in a nation of
300 million people can be noisy."
> AFGHANISTAN TALKS EYE TALIBAN PLAN
London plays host Thursday to a crucial daylong international
conference to chart the future of war-torn Afghanistan.
> OBAMA WANTS CHANGE ON GAYS IN MILITARY
President Obama will ask Congress during his State of the Union
address to repeal the military's "Don't Ask, Don't Tell" policy,
an administration official said.
> LEBANON: AIRLINE DATA RECORDER FOUND
Searchers have found the flight data recorder from an Ethiopian
Airlines plane that crashed Monday with 90 people aboard, the
Lebanese army said Thursday.
> APPLE MAY FACE 'IPAD' LEGAL BATTLE
Apple may face a legal battle with Fujitsu of Japan before it
can it can use the 'iPad' name for its new tablet computer.
> HAITIAN PM: TRAFFICKERS TARGET ORPHANS
There is trafficking in children and human organs in the
aftermath of the earthquake that devastated parts of Haiti,
Haitian Prime Minister Jean-Max Bellerive has said.
> RESCUERS PULL GIRL, 16, FROM RUBBLE
French rescuers in Haiti on Wednesday pulled from rubble a girl
who they believe could have been trapped since the January 12
earthquake.
> REPORT: AMERICAN HELD IN NORTH KOREA
An American was detained in North Korea for trespassing on the
country's border with China, state-run KCNA reported Thursday.
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BUSINESS
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> DAVOS GREETS CHINA'S NEXT PREMIER?
China's leadership succession process will step up a gear on
Thursday when Li Keqiang, the man widely tipped to be the
country's next premier, addresses the World Economic Forum.
> SOCIAL MEDIA GIANTS SURVEY KINGDOM
The greats of social media world agree their medium still hasn't
reached its full potential, with one Davos speaker joking that
the really cool stuff wouldn't happen "until we're dead."
> APPLE UNVEILS IPAD TABLET COMPUTER
Apple CEO Steve Jobs has unveiled the iPad, a tablet computer
that he called "a truly magical and revolutionary product."
Stocks open mixed as investors focus on President Obama's pledge to create jobs. A rise in jobless claims dampens advance.
Stocks open mixed as investors focus on President Obama's pledge to
create jobs. A rise in jobless claims dampens advance.
Wednesday, January 27, 2010
Markets, Wednesday, 01/27/2010
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| Dow : 10236.16 up 41.87 | S & P : 1097.50 up 5.33
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| NASDAQ: 2221.41 up 17.68 | Bond (10Y): 3.65%, 97.75
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MARKETS:
Stocks manage gains after Fed
Wall Street ends a choppy session in positive territory after the
central bank holds interest rates steady, as expected.
Stocks finish higher after Fed leaves rates unchanged and Apple unveils iPad tablet computer. Dow gains 41 points.
Stocks finish higher after Fed leaves rates unchanged and Apple
unveils iPad tablet computer. Dow gains 41 points.
Fed, keeping rates unchanged at near 0%, says rates will stay low for 'extended period.'
Fed, keeping rates unchanged at near 0%, says rates will stay low for
'extended period.'
U.S. stocks weighed by housing data
U.S. STOCKS WEIGHED BY HOUSING DATA
Stocks weakened Wednesday following the release of data showing an
unexpected drop in sales of new homes.
FED HAS PLENTY TO TALK ABOUT, BUT LITTLE TO SAY
Federal Reserve officials meeting behind closed doors to discuss the
outlook for interest rates and the economy have plenty to chew over,
but probably won't say much about it in public.
KEY VOTE FOR BERNANKE SET FOR THURSDAY
Federal Reserve Chairman Ben Bernanke moves closer to Senate
confirmation for a second term, as Democrats set a key vote for
Thursday on his nomination.
NEW HOME SALES FALL 7.6% TO 9-MONTH LOW
Sales of new U.S. homes fell 7.6% to a seasonally adjusted annual rate
of 342,000 in December from 370,000 in November after a popular tax
credit for buyers was set to expire, the Commerce Department
estimates.
EUROPE ENDS LOWER AGAIN AS BBVA SHARES SLIDE
European shares dropped on Wednesday, down for the fifth time in six
sessions, with BBVA losing ground after the Spanish banking giant
reported a sharp decline in profit.
December's seasonally adjusted sales of new homes fall 7.6%, at lowest since March
December's seasonally adjusted sales of new homes fall 7.6%, at lowest
since March
01/27/2010 10:03:09 AM EDT
Stocks open lower as investors await latest reading on new home sales. AIG hearing and end of Fed's 2-day meeting on tap.
Stocks open lower as investors await latest reading on new home sales.
AIG hearing and end of Fed's 2-day meeting on tap.
International Headline News
TOP STORIES as of 1000 GMT -- 27 January, 2010
> STATE TV: SRI LANKAN PRESIDENT RE-ELECTED
Sri Lanka elects President Mahinda Rajapaksa to a second term
amid allegations of intimidation from the opposition
presidential candidate, state television says.
> N. KOREA: SHELLING NEAR SOUTH WAS DRILL
North Korea and South Korea exchanged artillery fire Wednesday
off waters near the inter-Korean maritime border, South Korean
state media reported.
> EX-PM: QUAKE-STRUCK HAITI 'NOT DOOMED'
Although Haiti's capital is in ruins and hundreds of thousands
are homeless, a former prime minister of the earthquake-ravaged
country vowed "this country is not doomed."
> FEARS FOR U.S. HIKERS HELD IN IRAN
Two Belgians recently detained in Iran said they had some
contact with three U.S. hikers imprisoned there and are
concerned about the Americans' well-being.
> FRENCH LAWMAKERS URGE FACE VEIL BAN
French lawmakers have called for a ban on burqas -- the full
Islamic veil worn by some Muslim women -- in hospitals, schools
and on public transport.
> MEDIA FREEDOM PROTESTS IN VENEZUELA
Protests over media freedom continued in Venezuela Tuesday, a
day after two student protesters were killed in separate
clashes.
> SEARCH GOES ON AFTER LEBANON JET CRASH
International search teams combed the Mediterranean Sea for
signs of life on Tuesday, a day after an Ethiopian Airlines
flight went down off Lebanon, authorities said.
> U.S. SUSPENDS AID TO KENYAN MINISTRY
America's top diplomat to Kenya has announced that the United
States has suspended a $7 million "capacity building" program
for the country's Ministry of Education, citing corruption.
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BUSINESS
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> APPLE VERSUS GOOGLE
Battle lines are being drawn between tech behemoths Apple and
Google. Once close allies, the pair are becoming fierce
competitors.
> RUSAL SHARES PLUNGE ON HK DEBUT
UC Rusal, the aluminium group controlled by Russian oligarch
Oleg Deripaska, on Wednesday fell sharply on its Hong Kong
trading debut following the company's long struggle to come to
market.
> $74 MILLION DUTCH DEAL SAVES SAAB
General Motor's Swedish Saab brand has been saved from certain
death thanks to a last-minute deal with Dutch exotic car builder
Spyker. Spyker has agreed to pay $74 million in cash and $326
million in preferred stock in a new Saab that will emerge from
this deal.
Tuesday, January 26, 2010
International Headline News
TOP STORIES as of 0900 HKT -- 27 January, 2010
> U.S. FORCES RESCUE MAN FROM RUBBLE IN HAITI
Members of the U.S. Army's 82nd Airborne Division have rescued
a man from rubble in Haiti, who is being treated for a broken
leg, officials said.
> FEARS FOR U.S. HIKERS HELD IN IRAN
Two Belgians recently detained in Iran said they had some
contact with three U.S. hikers imprisoned there and are
concerned about the Americans' well-being.
> FRENCH LAWMAKERS URGE FACE VEIL BAN
French lawmakers have called for a ban on burqas -- the full
Islamic veil worn by some Muslim women -- in hospitals, schools
and on public transport.
> BAGHDAD BOMB KILLS 18, INJURES DOZENS
A car bomb explodes in central Baghdad killing 18 people and
wounding 80, one day after three vehicle bomb attacks at hotels
in the Iraqi capital kill at least 36.
> SEARCH GOES ON AFTER LEBANON JET CRASH
International search teams combed the Mediterranean Sea for
signs of life on Tuesday, a day after an Ethiopian Airlines
flight went down off Lebanon, authorities said.
> EX-GUATEMALAN PRESIDENT CAPTURED
Ex-Guatemalan President Alfonso Portillo, charged in the U.S.
with money laundering, was captured Tuesday on a farm on the
Guatemalan coast, the country's attorney general said.
> SRI LANKA VOTE: VOW TO BLOCK 'WINNER'
Top politicians in Sri Lanka vowed Tuesday to block the man who
looks poised to win the country's presidential election from
taking office.
> TALIBAN: 25 DEAD IN ATTACK AT U.S. BASE
Afghan security forces arrested a man over last week's deadly
assault on key government sites in the heart of Kabul,
authorities said Tuesday.
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BUSINESS
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> $74 MILLION DUTCH DEAL SAVES SAAB
General Motor's Swedish Saab brand has been saved from certain
death thanks to a last-minute deal with Dutch exotic car builder
Spyker. Spyker has agreed to pay $74 million in cash and $326
million in preferred stock in a new Saab that will emerge from
this deal.
> UK ECONOMY LIMPS OUT OF RECESSION
The UK economy finally returns to growth in the fourth quarter
of last year, after the deepest recession since records began
more than half a century ago, but at a far weaker rate than
expected.
> WILL DAVOS BREAK THE ECONOMIC GLOOM?
In its 2010 Global Risk Report, the World Economic Forum warned
of a second wave of economic turmoil unless further measures are
taken.
Markets,Tuesday, 01/26/2010
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| Dow : 10194.29 down 2.57 | S & P : 1092.17 down 4.61 |
| NASDAQ: 2203.73 down 7.07 | Bond (10Y): 3.62%, 97.97
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MARKETS:
Banks drag on stocks
Wall Street retreats at the end of a choppy session. Improved earnings
and consumer confidence report vie with bank concerns. Fed meets.
Wall Street rally loses steam on a late-day selloff in financial stocks. Dow, Nasdaq, S&P 500 close slightly lower.
Wall Street rally loses steam on a late-day selloff in financial
stocks. Dow, Nasdaq, S&P 500 close slightly lower.
Breaking news: GM to sell Saab to Dutch carmaker
General Motors Co. says it has reached an deal to sell its embattled
Saab Automobile arm to the small Dutch luxury carmaker Spyker Cars NV.
The move effectively saves the brand from extinction after other deals
collapsed.
U.S. fiscal outlook 'daunting' and economic growth 'muted.' Projected 2010 deficit: $1.3 trillion
Congressional Budget Office:: U.S. fiscal outlook 'daunting' and
economic growth 'muted.' Projected 2010 deficit: $1.3 trillion.
Deficit to hit $1.3 trillion in 2010, CBO says
DEFICIT HIT $1.3 TRILLION IN 2010, CBO SAYS
The U.S. budget deficit will hit $1.3 trillion in 2010, congressional
budget analysts estimate, in a fresh piece of grim news for President
Barack Obama.
OBAMA REPORTEDLY TO PROPOSE BUDGET FREEZE
President Barack Obama is expected to call for a three-year freeze in
spending for a portion of the U.S. federal budget in a first tiny step
toward controlling the growing deficit.
TREASURYS UP ON BUDGET-FREEZE PLAN
Treasury prices rise Tuesday, pushing yields down towards the lowest
level in more than a month, on reports President Obama will propose a
spending freeze for some federal departments.
OBAMA PROPOSES MIDDLE CLASS TAX CREDITS
The White House rolls out a batch of initiatives designed to help out
middle-class Americans shortly before President Barack Obama's first
State of the Union address.
FED CHIEF'S LIKELY TO WIN RECONFIRMATION: ANALYSTS
A firestorm of doubt that erupted last week over whether lawmakers'
support for Fed Chairman Ben Bernanke was eroding has been all but
extinguished almost as quickly, positioning the top U.S. central
banker to win a key vote in the Senate.
Stocks open lower amid ongoing uncertainty about the global economy, particularly China, Japan and the U.K.
Stocks open lower amid ongoing uncertainty about the global economy,
particularly China, Japan and the U.K.
Monday, January 25, 2010
Bank of Japan leaves policy rate and economic outlook unchanged, as expected
Bank of Japan leaves policy rate and economic outlook unchanged, as expected
01/25/2010 10:56:15 PM ED
Markets, Monday, 01/25/2010
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| Dow : 10196.86 up 23.88 | S & P : 1096.78 up 5.02
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| NASDAQ: 2210.80 up 5.51 | Bond (10Y): 3.63%, 97.91
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MARKETS:
Stocks try to recharge
Wall Street is back on the upswing after last week's big selloff as
investors try to rebound from the Dow's worst week in 10 months.
U.S. stocks end positive, with Dow up 24 points; commodities and materials post gains
U.S. stocks end positive, with Dow up 24 points; commodities and
materials post gains
01/25/2010 04:09:37 PM EDT
Stocks rebound to end modestly higher after three-day losing streak. Banks, techs, and big industry lead the advance.
Stocks rebound to end modestly higher after three-day losing streak.
Banks, techs, and big industry lead the advance.
Energy: Metals, mining stocks lead gains in Canada
Canadian stocks gain by 0.3%, reversing some of last week's losses.
U.S. stocks moderate gains after housing data
U.S. STOCKS MODERATE GAINS AFTER HOUSING DATA
U.S. stocks cling to modest gains Monday, as concerns over global
growth eased, but investors struck a cautious tone amid mixed company
earnings and subdued housing data.
FED CHIEF'S LIKELY TO WIN RECONFIRMATION: ANALYSTS
A firestorm of doubt that erupted late last week over whether
lawmakers' support for Federal Reserve Chairman Ben Bernanke was
eroding has been all but extinguished almost as quickly, positioning
the top U.S. central banker to win a key vote in the Senate.
STILL TOO SOON TO EXPECT FED POLICY ACTION
Analysts expect the Federal Reserve to leave interest rates unchanged
when it meets later this week.
A BAILOUT FOR BERNANKE
Ben Bernanke's future as the leader of the Federal Reserve was in
doubt late last week, but he's been bailed out by a strange coalition:
The White House and the Senate Republican leadership.
FINANCIALS REBOUND AFTER 6% DROP IN 3 SESSIONS
Financial stocks open Monday to the upside after the sector lost more
than 6% of its value over the previous three sessions, a nosedive
triggered by questions about banking regulation and the future of
Federal Reserve Chairman Ben Bernanke.
Energy: Energy stocks bounce back from grueling losses
Energy stocks on Monday bounce back from four days of losses, despite
weakness in shares of Halliburton following the oil-services giant's
tepid outlook for the coming quarter.
Sales of existing homes fell 16.7% in December as rush to cash in on homebuyer tax credit dries up - Realtors' group.
Sales of existing homes fell 16.7% in December as rush to cash in on
homebuyer tax credit dries up - Realtors' group.
Stocks open higher, following last week's big selloff. Investors await latest reading on housing market. Dow gains 64 points.
Stocks open higher, following last week's big selloff. Investors await
latest reading on housing market. Dow gains 64 points.
Sunday, January 24, 2010
International Headline News
TOP STORIES as of 0900 HKT -- 25 January, 2010
> HAITI QUAKE TOLL SOARS PAST 100,000, GOVERNMENT SAYS
More than 111,000 people died in the January 12 earthquake,
Haiti's government says, as thousands of people push for rescue
effortsto continue.
> ALLEGED BIN LADEN TAPE: MORE ATTACKS
A new tape allegedly from Osama bin Laden claims responsibility
for an attempt to blow up a plane en route to the U.S. on
Christmas Day and warns of more attacks.
> BROTHER: MAN SURVIVED 11 DAYS ON SODA
Hours after Haiti announced it was ending rescue operations, a
24-year-old man was pulled from the rubble of a collapsed hotel
in Port-au-Prince.
> N. KOREA HITS OUT AT 'RECKLESS' SOUTH
North Korea will consider any pre-emptive strike that the South
takes against its nuclear facilities as a declaration of war,
its state media said Sunday.
> AFGHAN PARLIAMENTARY ELECTION DELAYED
Afghanistan said Sunday it will postpone parliamentary elections
from May until September.
> IMPASSE IN ISRAELI, PALESTINIAN TALKS
U.S. President Barack Obama's special envoy to the Middle East
ended a four-day trip to Israel and the West Bank with no
breakthrough in persuading Israelis and Palestinians to go back
to the negotiating table.
> PLANE CATCHES FIRE TRYING TO LAND IN IRAN
At least 20 passengers were injured Sunday when an Iranian plane
caught fire while landing in the northeastern city of Mashhad,
state media reported.
> GUNMEN ATTACK CONVOY IN INDONESIA
Seven people, including one American, were wounded Sunday when a
convoy of buses came under fire near a U.S. mining company in the
province of Papua, police said.
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BUSINESS
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CHINA'S WEB TITANS LEAVE WEST BEHIND
They may not be household names in the West like Google, eBay
and Facebook, but in China -- which has more Internet users than
the entire population of the United States -- they are the
champions of the world's largest Internet market.
Key GOP senator expects Bernanke OK
1/24/2010 3:49:00 PM ET
Minority Leader Mitch McConnell says Bernanke has enough votes to be
confirmed for a second term as Fed chairman.
Energy: Venezuela's Carabobo region drawing Big Oil
1/24/2010 10:31:00 AM ET
Chavez turns to foreign companies to help nation extract and refine
the heavy, sour crude.
