TopNews - Stock Markets

US stocks rebound to start week

Jamie Williamson — Tue, 22 May 2012 02:58:39 +0000

New York, May 22 - US stocks rebounded Monday after major indexes suffered their worst weekly losses in the previous week.

Investors were wary after leaders of eight industrial countries concluded their meeting over the weekend and only gave verbal backing for Greece to stay in the eurozone, reports Xinhua.

However, there were rumors that European policy makers would boost a pan-European bank deposit program, which was considered as a positive sign to protect depositors' interests.

US stocks mixed amid euro concerns

Jamie Williamson — Sat, 19 May 2012 03:31:17 +0000

New York, May 19 : US stocks traded mixed Friday amid euro concerns, with all eyes on Facebook Initial Public Offering (IPO).

Investors speculated that the Spanish government will boost short-sell ban, reports Xinhua. The country's bond yield rose sharply recently, suggesting a global concerns over the region.

Facebook, the world's largest online social network started trading at the Nasdaq Stock Market Friday at the price of $42.05 a share, up 10.6 percent from its IPO price of $38.

The company's market value will hit $104 billion, making the company the biggest-ever valuation by a US company at the time of its IPO.

Wall Street extends loss

Jamie Williamson — Fri, 18 May 2012 03:13:13 +0000

New York, May 18 - Wall Street extended losses Thursday, with the Dow Jones industrial average suffering its 11th loss in last 12 trading sessions, amid intensified fears about European banking systems.

When the market closed, the Dow Jones industrial average fell 156.06 points, or 1.24 percent, to 12,442.49. The Standard & Poor's 500 was down 19.44 points, or 1.51 percent, to 1,304.86. The Nasdaq Composite Index lost 60.35 points, or 2.10 percent, to 2,813.69, Xinhua reported.

US stocks rally on housing data

Jamie Williamson — Fri, 27 Apr 2012 02:33:13 +0000

New York, April 27 - US stocks extended rally Thursday as the housing data came in better than expected, offsetting a weak jobs report and some disappointing earnings.

The Dow Jones industrial average gained 113.90 points, or 0.87 percent, to 13,204.62. The Standard & Poor's 500 was up 9.29 points, or 0.67 percent, to 1,399.98. The Nasdaq Composite Index rose 20.98 points, or 0.69 percent, to
3,050.61, Xinhua reported.

Wall Street gains on Apple, Fed's economic outlook

Jamie Williamson — Thu, 26 Apr 2012 02:39:52 +0000

New York, April 26 - The US Stocks gained broadly Wednesday thanks to strong Apple earning reports and the Federal Reserve's positive economic outlook.

The Dow Jones industrial average gained 89.16 points, or 0.69 percent, to 13,090.72. The Standard & Poor's 500 was up 18.72 points, or 1.36 percent, to 1,390.69. The Nasdaq Composite Index rallied 68.03 points, or 2.30 percent, to 3,029.63, Xinhua reported.

Apple, the largest company in the world by market share, reported late Tuesday its profit doubled in the quarter ending March 31 on the back of soaring sales of the iPhone, especially in China.

US stocks end mixed amid strong earnings

Jamie Williamson — Wed, 25 Apr 2012 05:02:39 +0000

New York, April 25 : US stocks ended mixed Tuesday as investors weighed stronger-than-expected corporate earnings against lackluster economic data.

The Dow Jones industrial average gained 74.39 points, or 0.58 percent, to 13,001.56. The Standard & Poor's 500 was up 5.03 points, or 0.37 percent, to 1,371.97. The Nasdaq Composite Index slipped 8.85 points, or 0.30 percent, to
2,961.60, Xinhua reported.

US stocks slide on European concerns

Jamie Williamson — Tue, 24 Apr 2012 04:02:58 +0000

New York, April 24 : US stocks slid Monday as concerns over European situations once again plagued the market.

The Dow Jones industrial average lost 102.09 points, or 0.78 percent, to 12,927.17. The Standard & Poor's 500 was down 11.59 points, or 0.84 percent, to 1,366.94. The Nasdaq Composite Index declined 30.00 points, or 1.00 percent, to 2,970.45, Xinhua reported.

The latest political development in Europe was the main reason for the sell-off in the market in the absence of key economic data.

US stocks lower amid weak economic data

Jamie Williamson — Fri, 20 Apr 2012 02:13:51 +0000

New York, April 20 - US stocks edged lower Thursday as the latest string of weak economic data overshadowed better-than-expected corporate earnings.

The US Labor Department said that the number of people applying for jobless benefits declined 2,000 to a seasonally adjusted 386,000, Xinhua reported.

Investors felt disappointed not only because the initial claims was much higher than analysts had expected but also because the slight improvement was the previous week's number revised higher than originally reported.

US stocks rebound on strong Alcoa earnings

Jamie Williamson — Thu, 12 Apr 2012 03:46:04 +0000

New York, April 12 - US stocks rebounded Wednesday, snapping a five-day losing streak, after aluminum producer Alcoa reported better-than-expected earnings.

The Dow Jones industrial average gained 89.46 points, or 0.70 percent, at 12,805.39. The Standard & Poor's 500 was up 10.12 points, or 0.74 percent, to 1,368.71. The Nasdaq Composite Index rose 25.24 points, or 0.84 percent, to
3,016.46, Xinhua reported.

US stocks continue downward trend

Jamie Williamson — Wed, 11 Apr 2012 03:29:05 +0000

New York, April 11 : US stocks continued the downward trend Tuesday as concerns over European debt problems resurfaced amid rising borrowing costs in Spain and Italy.

US stocks logged four consecutive losing sessions as job data in March was worse than expected, Xinhua reported.

Adding to the negative tone, yields on Spain's 10-year bonds hovered just under 6 percent, the highest level in more than three months, even as the government was pushing through much stricter austerity measures.

Meanwhile, the yields in Italy rose as well, reminding investors that the problems in Europe were far from over.

US stocks tumble after March jobs report

Jamie Williamson — Tue, 10 Apr 2012 02:48:44 +0000

New York, April 10 : US stocks tumbled Monday as investors came back from a weekend holiday and finally got a chance to react to Friday's jobs data, Xinhua reported.

The Labor Department announced Friday that non-farm payrolls rose by 120,000 in March, only as half as market previously expected.

The unemployment rate fell to 8.2 percent from 8.3 percent in the previous month, beating expectations of an unchanged reading and marking the lowest rate seen since January 2009.

However, many investors believed that the decline was not because the job market was getting better, but rather because more people gave up searching for jobs.

US stocks close mixed

Jamie Williamson — Sat, 31 Mar 2012 03:28:38 +0000

New York, March 31 - US stocks Friday closed mixed at the end of a strong first quarter, as investors weighed the latest development in the eurozone and conflicting US economic data.

The Dow Jones industrial average rose 66.22 points, or 0.50 percent, to 13,212.04. The Standard & Poor's 500 was up 5.19 points, or 0.37 percent, to 1,408.47. The Nasdaq Composite Index edged down 3.79 points, or 0.12 percent, to 3,091.57, Xinhua reported.

Eurozone finance ministers agreed Friday to expand their bailout funds to 700 billion euros (about $931.77 billion), prompting fresh hopes for a better solution to the current debt crisis in Europe.

US stocks trim losses amid Spain concern

Jamie Williamson — Fri, 30 Mar 2012 03:05:15 +0000

New York, March 30 - US stocks trimmed early losses and ended the session mixed Thursday as investors weighed debt problems in Spain against positive domestic economic data.

The Dow Jones industrial average added 19.61 points, or 0.15 percent, at 13,145.82. The Standard & Poor's 500 dipped 2.26 points, or 0.16 percent, to 1,403.28. The Nasdaq Composite Index dropped 9.60 points, or 0.31 percent, to 3,095.36, Xinhua reported.

Major indexes were mired in the red for most time during the session as the situation in Spain reminded investors the crisis in Europe was far from over.

US stocks fall

Jamie Williamson — Thu, 29 Mar 2012 03:28:44 +0000

New York, March 29 - US stocks ended lower Wednesday as investors found little reason to push stocks a step higher amid a disappointing durable order report.

The Dow Jones industrial average fell 71.52, or 0.54 percent, at 13,126.21. The Standard & Poor's 500 was down 6.98 points, or 0. 49 percent, to 1,405.54. The Nasdaq Composite Index dropped 15.39 points, or 0.49 percent, to
3,104.96, Xinhua reported.

Optimism about the US economy began to wane after a latest string of disappointing data. Investors became more cautious especially after major indexes hovered around multi-year highs.

US stocks flat after Fed-fuelled rally

Jamie Williamson — Wed, 28 Mar 2012 02:33:30 +0000

New York, March 28 - US stocks traded flat Tuesday after major indexes jumped to 2012 highs in a central bank-fuelled rally.

In midday trading, the Dow Jones industrial average dipped 10. 67 points, or 0.08 percent, at 13,230.96. The Standard & Poor's 500 was down 0.84 points, or 0.06 percent, to 1,415.67. The Nasdaq Composite Index added 5.21 points, or 0.17 percent, to 3,127.78.

Market sentiment was buoyed after Federal Reserve Chairman Ben Bernanke said Monday that the central bank would bolster the economy if the recovery weakens, Xinhua reported.

US stocks rally after Bernanke's remarks

Jamie Williamson — Tue, 27 Mar 2012 02:36:10 +0000

New York, March 27 - US stocks rallied Monday after the Federal Reserve Chairman Ben Bernanke said the central bank will bolster the economy despite signs of stronger recovery.

During a speech at the National Association for Business Economics spring conference, the Fed chief said that despite recent improvement, the job market remains weak. He emphasized on strengthening economic growth to help create jobs, Xinhua reported.

His words convinced investors that the Fed would keep the ultra-low interest rate for some periods of time and even raised expectations of further quantitative easing policy.

US stocks pause in absence of big data

Jamie Williamson — Tue, 13 Mar 2012 03:02:05 +0000

New York, March 13 - US stocks took a breather Monday, ending narrowly mixed, in the absence of key domestic economic data, Xinhua reported.

The Dow Jones industrial average gained 37.69 points, or 0.29 percent, at 12,959.71. The Standard & Poor's 500 added 0.22 points, or 0.02 percent, to 1,371.09. The Nasdaq Composite Index slipped 4. 68 points, or 0.16 percent, to 2,983.66.

With no big economic data directing trading, investors looked overseas to look for clues for the global economy.

China recorded its biggest trade gap in at least a decade in February as imports jumped 39.6 percent and exports increased by a less-than-expected 18.4 percent.

US stocks rise

Jamie Williamson — Sat, 10 Mar 2012 02:49:28 +0000

New York, March 10 - US stocks rose Friday as investors embraced positive non-farm payroll reports.

The Labor Department reported Friday that the economy added 227,000 jobs in February, more than economists had anticipated.

Meanwhile, the February unemployment rate remained at 8.3 percent, in line with expectations, reports Xinhua.

In Europe, Greece had managed to persuade the vast majority of its bond holders to take a loss on their investments, which was going to be the biggest national debt writedown in history for the debt-burdened country.

US stocks higher on housing report

Jamie Williamson — Tue, 28 Feb 2012 03:46:13 +0000

New York, Feb 28 : US stocks traded higher at mid-day Monday as better-than-expected housing data helped lift the market, Xinhua reported.

The Dow Jones Industrial Average surpassed the 13,000 mark.

The National Association of Realtors reported that pending home sales gained 2 percent to 97.0 in January, the highest in nearly two years.

However, concerns about the European debt crisis continued to weigh on the market. Members of the Group of 20 leading economies said Europe need to raise extra funds to combat the ongoing debt crisis.

US stocks open higher

Jamie Williamson — Sat, 25 Feb 2012 02:21:46 +0000

New York, Feb 25 - US stocks were modestly higher Friday after a report showed American consumers felt more confident about the economic recovery.

According to the final reading of the Thomson Reuters/University of Michigan's survey, the consumer sentiment index jumped to 75.3 in February, which was better than economists had expected and the best level in almost a year, Xinhua reported.

Meanwhile, the Commerce Department said that new home sales declined 0.9 percent in January to a seasonally adjusted 321,000 units, also a little bit stronger than average estimates.

US stocks higher on positive jobs data

Jamie Williamson — Fri, 24 Feb 2012 02:13:12 +0000

New York, Feb 24 - US stocks jumped Thursday after a government report showed the jobs market was steadily improving.

According to the US Labor Department, the number of people applying for jobless benefits was unchanged last week at 351,000, the fewest since March 2008, Xinhua reported.

Meanwhile, the four-week average of initial claims, which smoothes week-to-week fluctuations, dropped for the sixth straight week to 359,000, also the lowest level in four years.

The broader Standard & Poor's 500 was standing above the closely watched 1,360 level, a 10-month high seen as a key resistance point.

US stocks drop on Greece worries

Jamie Williamson — Sat, 11 Feb 2012 02:24:28 +0000

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

Jamie Williamson — Fri, 10 Feb 2012 04:22:36 +0000

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

Jamie Williamson — Thu, 09 Feb 2012 02:16:43 +0000

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

Jamie Williamson — Sat, 28 Jan 2012 02:18:02 +0000

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

Jamie Williamson — Fri, 27 Jan 2012 02:47:03 +0000

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

Jamie Williamson — Thu, 26 Jan 2012 05:06:20 +0000

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

Jamie Williamson — Wed, 25 Jan 2012 02:16:32 +0000

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

Jamie Williamson — Sat, 14 Jan 2012 03:20:55 +0000

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

Jamie Williamson — Fri, 13 Jan 2012 03:19:11 +0000

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

Jamie Williamson — Wed, 11 Jan 2012 02:35:11 +0000

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

Jamie Williamson — Tue, 10 Jan 2012 02:55:22 +0000

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

Jamie Williamson — Fri, 30 Dec 2011 03:13:44 +0000

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

Jamie Williamson — Thu, 29 Dec 2011 02:58:31 +0000

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

Jamie Williamson — Wed, 28 Dec 2011 03:01:22 +0000

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

Jamie Williamson — Thu, 15 Dec 2011 02:37:52 +0000

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

Jamie Williamson — Wed, 14 Dec 2011 02:01:24 +0000

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

Jamie Williamson — Tue, 13 Dec 2011 02:36:15 +0000

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

Jamie Williamson — Sat, 26 Nov 2011 02:14:58 +0000

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

Jamie Williamson — Sat, 12 Nov 2011 03:05:14 +0000

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

Jamie Williamson — Fri, 28 Oct 2011 02:18:25 +0000

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).

Wall Street rises on European news

Jamie Williamson — Thu, 27 Oct 2011 03:14:11 +0000

New York, Oct 27 - Wall Street rose Wednesday as news from Europe showed more positive signs about a resolution for sovereign debt crisis at the European leaders' summit in Brussels, Xinhua reported.

According to sources, the euro zone was talking about expanding the EFSF (European Financial Stability Facility) bailout fund to one trillion euros.

Encouragingly, German lawmakers voted 503 to 89 with four abstentions in favour of leveraging the European bailout fund to make it more effective, adding to the chance for EU leaders to seal a deal during the meeting.

US stocks slide over European summit doubts

Jamie Williamson — Fri, 21 Oct 2011 02:43:20 +0000

New York, Oct 21 - The US stocks traded lower Thursday as investors doubted what European leaders can achieve at Sunday's summit, Xinhua reported.

The market has become over-sensitive to chatters and rumors out of Europe. Anything related to a possible solution to the European debt problems can move the market.

Stocks got a blow Monday as the German finance minister said governments will not yield a definitive solution to the region's debt crisis.

US consumer prices rose in September

Jamie Williamson — Thu, 20 Oct 2011 05:54:26 +0000

Washington, Oct 20 : US consumer prices rose 0.3 percent last month, bringing the 12-month inflation rate to 3.9 percent, the Labour Department said Wednesday.

The core Consumer Price Index, which excludes more volatile food and energy prices, climbed only 0.1 percent in September, while year-on-year core inflation was 2 percent.

Wholesale prices increased 0.8 percent in September and by 6.9 percent over the preceding 12 months, according to official data released Tuesday.

Numbers pointing to possible growth in inflationary pressure could limit the Federal Reserve's scope for further measures to stimulate the still-sluggish US economy.

Despite record profits, Apple disappoints Wall Street

Jamie Williamson — Wed, 19 Oct 2011 04:52:14 +0000

Washington, Oct 19 - Despite setting new sales and profit records over the last three months and blowing past the $100 billion mark Apple's revenue and earnings on the last quarter fell far short of Wall Street's forecasts.

With an all-time record sale of Macs and iPads, Apple said Tuesday its net income for the quarter rose to $6.6 billion, or $7.05 per share, up 54 percent from a year earlier, but lower than $7.39 per share forecast by analysts.

US stocks jump amid mixed earnings

Jamie Williamson — Wed, 19 Oct 2011 03:10:54 +0000

New York, Oct 19 - US stocks ended sharply higher Tuesday, led by financials, as investors digested a batch of mixed corporate earnings, Xinhua reported.

The Dow Jones industrial average gained 180.05 points, or 1.58 percent, to 11,577.05. The Standard & Poor's 500 surged 24.52 points, or 2.04 percent, to 1,225.38. The Nasdaq Composite Index rose 42.51 points or 1.63 percent, to
2,657.43.

Financial shares continued to catch eyes, with big banks among the best performers in the market even though some of them posted lackluster results.

US stocks tumble over European concerns

Jamie Williamson — Tue, 18 Oct 2011 02:38:14 +0000

New York, Oct 18 - US stocks tumbled Monday, with major indexes suffering biggest losses in two weeks, as worries on European debt problems once again weighed on the market, Xinhua reported.

Expectations that a solution to the crisis could be reached at a European summit in Brussels Oct 23 have helped boost sentiment recently. The broader S&P 500, often regarded as a barometer for the market, jumped more than 6 percent last week, its biggest gain since July 2009.

US stocks surge on European bank hope

Jamie Williamson — Tue, 11 Oct 2011 03:04:05 +0000

New York, Oct 11 - US stocks surged Monday, with the blue-chip Dow soaring nearly 250 points, as news showed Germany and France were near a final deal to shore up European banks, Xinhua reported.

German Chancellor Angela Merkel and French President Nicolas Sarkozy announced Sunday that there was an agreement to strengthen European banks.

Investors hoped that this would help eurozone banks out of trouble and improve Europe's woeful financial situation.

Meanwhile, traders were looking forward to a new earnings season which is going to officially kick off Tuesday when Alcoa reports its third-quarter results after the closing bell.

Wall Street up for third day

Jamie Williamson — Fri, 07 Oct 2011 03:17:46 +0000

New York, Oct 7 - US stocks ended higher for the third straight day Thursday, with Dow Jones back to 11,000-plus points after decent jobs data and stronger-than-expected retail sales, Xinhua reported.

The Dow Jones industrial average rallied 183.38 points, or 1.68 percent, to 11,123.33. The Standard & Poor's 500 jumped 20.94 points, or 1.83 percent, to 1,164.97. The Nasdaq Composite Index surged 46.31 points, or 1.88 percent, to 2,506.82.

Hacker group Anonymous threatens to “erase” NYSE from Internet

Jamie Williamson — Wed, 05 Oct 2011 05:17:06 +0000

Washington, Oct 5 : Notorious hacker group Anonymous has threatened to hack into the computer system of the New York Stock Exchange.

According to an FBI investigation, members of the hacker group have “declared war on the New York Stock Exchange” on Monday by threatening to “erase” it from the Internet.

“The FBI is aware of these schemes and threats and is looking into the matter,” Fox news quoted a FBI spokesman Tim Flannelly, as saying.

The hackers have reportedly said that they plan to launch a DDoS (or distributed denial of service) attack on the NYSE’s computer systems.

US stocks end quarter with sell-off

Jamie Williamson — Sat, 01 Oct 2011 03:10:09 +0000

New York, Oct 1 - US stocks tumbled Friday, ending the worst quarter since the economic recession, as investors found little reason to buy in the market amid gloomy economic outlook and European debt woes, Xinhua reported.

The past quarter was disastrous for Wall Street. The blue-chip Dow plunged about 12 percent, the worst since the first quarter of 2009, while the broader S&P 500 and the tech-heavy Nasdaq tumbled 14 percent and 12 percent respectively, the biggest declines since the last quarter of 2008, when the economy was at the height of the financial recession.

US stocks open higher

Jamie Williamson — Fri, 30 Sep 2011 02:48:15 +0000

New York, Sep 30 - US stocks opened broadly higher Friday amidst positive economic data, Xinhua reported.

Investors also embraced news that Germany's lower house had approved a new plan for euro zone debt crisis fund.

The Labor Department said Thursday that applications for unemployment benefits fell by 37,000 to a seasonally adjusted 391,000 last week.

Meanwhile, the revised US GDP growth in the second quarter was 1.3 percent, beating previous expectations.

Investors also focused on Fed Chairman Ben Bernanke's speech Wednesday in which he said the central bank might need to ease monetary policy further if inflation fell broadly.

US stocks drop on Europe concerns

Jamie Williamson — Thu, 29 Sep 2011 02:41:43 +0000

New York, Sep 29 - US stocks ended lower Wednesday, breaking a three-day winning streak, as concerns about the European debt crisis continued to weigh on the market, Xinhua reported.

Major indexes traded higher before the sell-off accelerated in late session and European debt problems dominated sentiment.

Investors were cautiously expecting eurozone policy makers to come up with plans to stem the crisis.

All eyes were on Germany as the German parliament is set to hold a crucial vote on a controversial package of measures to boost the eurozone rescue fund.

German Chancellor Angela Merkel said Wednesday that Germany will do "what it can" to help Greece regain market confidence.

US stocks rally after disastrous week

Jamie Williamson — Tue, 27 Sep 2011 02:38:51 +0000

New York, Sep 27 - US stocks rallied Monday after the blue-chip Dow suffered its worst weekly decline in almost three years, as investors expected eurozone policy makers to take bolder steps to deal with the debt problems, Xinhua reported.

The blue-chip Dow reclaimed 11,000 after losing more than 700 points last week. Big banks were leading the gains throughout the session, with JP Morgan Chase soaring over six percent, the best performer in the Dow.

US stocks close higher for fourth consecutive day

Jamie Williamson — Fri, 16 Sep 2011 02:57:04 +0000

New York, Sep 16 - US stocks posted four winning streak Thursday as concerted efforts by central banks encouraged optimism, Xinhua reported.

The European Central Bank, along with the Federal Reserve and other central banks, will provide dollar liquidity to European banks in fourth quarter.

The move comes amid investors' fear about the health of European banking system and sovereign debt woes, helped to ease investors' nerves on European debt crisis.

US stocks extend gains to third day

Jamie Williamson — Thu, 15 Sep 2011 03:27:43 +0000

New York, Sep 15 : The US stocks extended gains to the third day Wednesday after German and French leaders showed their supports to Greece, Xinhua reported.

The Dow Jones industrial average ended 140.88 points, or 1.27 percent higher, at 11,246.73 after losing more than 100 points in morning session.

The Standard & Poor's 500 jumped 15.81 points, or 1.35 percent, to 1,188.68 and the Nasdaq Composite Index rallied 40.40 points, or 1.60 percent, to 2,572.55.

Concerns over European debt crisis have weighted on the market in recent days as investors believed Greece was on the verge of a debt default.

Wall Street rises despite Euro zone concerns

Jamie Williamson — Wed, 14 Sep 2011 02:49:53 +0000

New York, Sep 14 - US stocks rose Tuesday even though investors were concerned about the euro zone crisis, Xinhua reported.

The news that China might buy Italian bonds helped encourage investors Monday, however it was denied by an Italian official Tuesday.

Political leaders of Greece, Germany and France will hold a conference call Wednesday to discuss Greek debt problems.

On the economic front, the US labour department said that US import prices fell 0.4 percent in Aug as a result of lower fuel, food and industrial material costs.

Wall Street rises on China hope

Jamie Williamson — Tue, 13 Sep 2011 04:36:22 +0000

New York, Sep 13 - The US stocks rose in the last hour Monday as investors were smoothed by Italy's turning to China for help, Xinhua reported.

The market opened lower Monday as German Economy Minister Philip Roesler said "orderly default" by Greece can't be ruled out.

Investors were worried that Germany might be getting ready to give up on Greece and the lack of a solution to Greece's debt problem heightened concerns about the debt crisis.

US stocks open higher

Jamie Williamson — Thu, 01 Sep 2011 02:06:23 +0000

New York, Sep 1 - US stocks opened higher Wednesday as investors expected that the federal reserve will provide more stimulus efforts in the future, Xinhua reported.

The central bank's opinions on whether to carry out further quantitative easing policy were mixed, but investors bet that even though there was no third round of quantitative easing, the Fed would still boost liquidity in the market.

On the economic front, according to a report by payrolls processor ADP Wednesday, the US private sector job growth declined in August, with employers adding 91,000 positions.

Wall Street rises sharply

Jamie Williamson — Tue, 30 Aug 2011 03:26:27 +0000

New York, Aug 30 - The Wall Street surged Monday as hurricane Irene was not as bad as previously estimated, with Dows jumping over 250 points and Nasdaq increasing over three percent, Xinhua reported.

With Irene caused much less damage than investors had feared investors Monday put their money into the stocks, which had been over sold last week.

Meanwhile, volatility was quite high in August, at least when looking at the Standard & Poor's 500 percentage spread between the intra-day high and low readings for the month. This month's 18.7 percent reading was the widest since the 24.9 percent mark registered during March 2009.