Stock Markets
US stocks drop on Greece worries
New York, Feb 11 - US stocks dropped Friday as Greece's crucial international bailout was put on hold by eurozone finance ministers.
Eurozone finance ministers said Greece had to save an extra $430 million in order to be granted bailout funds, while Greek workers staged a nationwide strike against the new austerity plan, Xinhua reported.
On the economic front, the Commerce Department said that US trade deficit widened to $48.8 billion in December, hitting the highest level since July 2008.
US stocks little changed after Greece deal
New York, Feb 10 : US stocks traded in a very narrow range around the breakeven line Thursday as investors felt little thrilled after Greek political leaders had agreed on austerity cuts after a dangerous deadlock.
Investors were taking a close watch on Greece as the nation's prime minister went to Brussels to talk with European leaders, hoping to secure the second round of bailout money to avoid a disastrous default, Xinhua reported.
Domestically, Thursday's jobs data came in better than expected, reassuring investors the battered jobs market was steadily picking up.
US stocks slip
New York, Feb 9 - The US stocks slipped in midday trading Wednesday as investors' concerns mounted amid prolonged debt talks in Greece.
The Dow Jones industrial average fell 30.05 points, or 0.23 percent, to 12,848.15. The Standard & Poor's 500 dipped 1.60 points, or 0.12 percent, to 1,345.45. The Nasdaq Composite Index edged down 2.40 points, or 0.08 percent, to 2,901.68, Xinhua reported.
Deadlines were pushed back again and again as Greek politicians were negotiating with both the European Union and the International Monetary Fund over more fiscal reforms.
Most investors were still hoping a deal would be reached at the last minute to avoid a disastrous default.
US stocks mixed
New York, Jan 28 - US stocks traded mixed Friday amid news that the US economy grew slower than expected, and concerns over the ongoing Greece debt negotiations.
The Commerce Department reported that US gross domestic product (GDP) rose 2.8 percent in the fourth quarter of 2011, lower than the expected 3 percent, reports Xinhua.
Meanwhile, the consumer sentiment index rose to an 11-month high in January, climbing to 75, according to the University of Michigan.
Investors were also anxious about Greece's ongoing negotiations with private sector creditors in order to reduce its debt.
US stocks slightly lower in thin trading
New York, Jan 27: US stocks were slightly lower in thin trading Thursday amid earning reports, economic data and the Federal Reserve's decision to keep low interest rate, Xinhua reported. On economic front, the number of people filing new claims for jobless benefits increased by 21,000 to 377,000 last week.
Meanwhile, heavy-machinery maker Caterpillar's fourth-quarter earnings jumped 60 percent thanks to increase in new equipment sales.
The investors still cheered amid Fed's statement Wednesday, which says that economic conditions "are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014".
US stocks end higher
New York, Jan 26 : US stocks rose Wednesday after the Federal Reserve said it will not raise interest rates until at least 2014, maintaining its accommodative stance to support the country's economy, Xinhua reported.
The investors cheered after the Fed said Wednesday that economic conditions "are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014."
The market rose also because Apple's stock surged over 6 percent, boosting technology shares in NASDAQ.
US stocks edge lower
New York, Jan 25 - US stocks edged lower Tuesday amid concerns about the European debt crisis and mixed US corporate earnings.
European Union ministers Tuesday rejected the proposals by private Greek debt holders of a 65 to 70 percent write-down of the country's debt, Xinhua reported.
The news added to concerns about the European debt crisis.
Meanwhile, Christine Lagarde, managing director of the International Monetary Fund (IMF), said the organization needed an additional $500 billion to help resolve the European debt crisis.
However, the source of the money remained unclear.
US stocks fall on bleak earnings
New York, Jan 14 - US stocks closed lower Friday as JP Morgan Chase reported worse-than-expected fourth-quarter earnings, while downgrades of several European countries spurred new concerns over the region's debt crisis.
Investors had expected rating agency Standard & Poor's to downgrade some European countries' credit ratings Friday as it had put 15 countries on Creditwatch Negative in early December, Xinhua reported.
The finance minister of France had confirmed before the market close that the country's triple-A would be cut by one notch. S&P later announced to cut the country's credit rating by one notch from AAA to AA+.
US stocks mixed amid tepid data
New York, Jan 13 : US stocks traded mixed Thursday as US economic data worried investors, but news from Europe provided support.
The US Commerce Department said total retail sales increased 0.1 percent in December, after rising by an upwardly revised 0.4 percent in November, a little weaker than previously expected, Xinhua reported.
Meanwhile, the Labor Department said initial jobless claims jumped to 399,000 last week, the highest level in six weeks, suggesting lingering uncertainties in the jobs market.
However, news from the Europe came as a relief. Italy successfully sold 12-month government bonds, with the lowest yield since June 2011.
US stocks extend gains on positive data
New York, Jan 11 - US stocks rose Tuesday amid positive data and better-than-expectation quarterly company revenues. Alcoa posted revenue above expectations after the market closed Monday, Xinhua reported. The company posted a fourth-quarter loss of $191 million, but its revenue beat previous expectations, increasing 6 percent to $5.99 billion.
The company's CEO Klaus Kleinfeld said that he expects global aluminum demand to grow 7 percent in 2012.
On the economic front, small business optimism increased in December for the fourth consecutive month.
The Dow Jones industrial average gained 97.56 points, or 0.79 percent, to 12,490.25.
US stocks moderately higher ahead of earnings
New York, Jan 10 : US stocks ended moderately higher Monday as investors awaited the beginning of a new earnings season, Xinhua reported.
Analysts expected that US corporate earnings will be lower than previous estimated in the last quarter of 2011 due to the weakening global economy.
In Europe, German and French leaders met Monday to discuss ways to tackle European debt crisis and stimulate euro zone economies, calling for EU states to complete their negotiations on a planned new treaty in the coming days so it could be signed March 1.
US stocks rise amid positive data
New York, Dec 30 : US stocks extended gains Thursday after the country's jobless data hit the lowest level in over three years and home sales soared to the highest level in 19 months, Xinhua reports.
According to the US Labor Department Thursday, initial claims for state unemployment benefits increased by 15,000 to a seasonally adjusted 381,000.
However, the four-week moving average, which was regarded as a better measure of trends, fell by 5,750 to 375,000. The reading was the lowest level since June 2008.
US stocks slide on Europe concerns
New York, Dec 29 : US stocks continued to decline during mid-day trading Wednesday as European banks deposited record amount of cash in the European Central Bank.
Italy Wednesday successfully sold 9-billion-euro 6-month bonds at 3.251 percent, just half of the 6.4 percent yield last month, which indicated that the country's borrowing cost has significantly decreased, Xinhua reports.
However, the positive news failed to lift optimism in the stock market as uncertainties still remained in the eurozone.
US stocks rise in midday trading
New York, Dec 28 - US stocks rose slightly during midday trading Tuesday, Xinhua reported.
The Standard & Poor's Case-Shiller index of 20 city dropped 0.6 percent in October, compared with September, said the Standard & Poor's monthly report. The index was down 3.4 percent year-on-year.
Meanwhile, according to the New York-based organization, its Consumer Confidence Index rose to 64.5 in December from 55.2 in November.
US stocks stay low for straight day
New York, Dec 15 - US stocks ended lower for the third straight day Wednesday amid euro zone concerns and data, Xinhua reported.
On economic front, the US labor department said that import prices rose 0.7 percent in November, the largest increase in seven months.
The increasing import prices added concerns about inflation. Some investors worried that the Federal Reserve will refrain from any new round of Quantitative easing policy given such circumstances.
US stocks rise on positive retail data
New York, Dec 14 - US stocks opened higher Tuesday on positive retail data.
According to the commerce department, US retail sales rose 0.2 percent after a 0.6-percent gain in October.
The less-than-expected figure in November was due to a decline in receipts for food and beverages and stronger sales of motor vehicles, Xinhua reported.
Meanwhile, Spain's treasury sold 4.9 billion euros of 12- and 18-month treasury bills, but the yields still remained high.
Investors now worried that the rating agencies will downgrade 15 eurozone countries after Standard and Poor's threatened to do so.
US stocks pull back as European optimism fades
New York, Dec 13 - US stocks pulled back across the board Monday as initial enthusiasm about last week's EU compact faded, Xinhua reported.
The Dow Jones industrial average dropped 162.87 points, or 1.34 percent, to 12,021.39. The Standard & Poor's 500 fell 18.72 points, or 1.49 percent, to 1,236.47. The Nasdaq Composite Index lost 34. 59 points, or 1.31 percent, to
2,612.26.
The decline came after Friday's rally as 17 eurozone members plus up to nine non-eurozone EU states basically agreed to join the compact based on "inter-governmental treaties" to take unprecedented measures to oversee national economies, with sanctions for governments that run up high deficits.
US stocks end lower in holiday-shortened session
New York, Nov 26 - US stocks ended lower Friday, with the S&P 500 and the Nasdaq falling for the seventh straight day, as market sentiment was still heavily weighed by concerns over intensified European debt problems.
The Dow Jones industrial average dropped 25.61 points, or 0.23 percent, to 11,231.94. The Standard & Poor's 500 was down 3.12 points, or 0.27 percent, to 1,158.67. The Nasdaq Composite Index dropped 18.57 points, or 0.75 percent, to 2,441.51.
Major indexes tumbled more than 4 percent for the week, the worst Thanksgiving week in more than 70 years.
Friday's holiday-shortened session was once again dominated by European headlines.
US stocks turn into positive territory
New York, Nov 12 - US stocks turn positive Friday amid signs of stabilization in European debt and better-than- expected data, with all three major indexes turning positive, Xinhua reported.
Italy's Senate approved a budget bill Friday, which cleared the way for Prime Minister Silvio Berlusconi to resign. The bill was also expected to pass the lower chamber of the parliament Saturday.
The news helped boost investors' confidence in the country while the yield on the 10-year Italian government bond dropped to 6.45 percent. The yield reached 7.25 percent Wednesday, the highest since 1997.
Wall Street surges on European deal
New York, Oct 28 - Wall Street surged Thursday, with the blue-chip Dow back above 12,000, after European leaders agreed on a deal to tackle the region's debt crisis and US third-quarter GDP growth accelerated, Xinhua reported.
Investors breathed a sigh of relief after European leaders agreed early Thursday, after 10 hours of negotiations, that private creditors have to accept a 50 percent cut in the value of the Greek government debt they hold, and the bailout fund would be increased to 1 trillion euros ($1.37 trillion).