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First Consolidation of Averages
Jan 12, 4:58 PM EST |
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| After seven days of stocks on the run, three major averages corrercted. Oil traded above $65 but fell and natural gas fell. GM lost 4.1%. |
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| Novemeber trade deficit at $64 billion, lower than expected but 8% higher than a year ago was ignored by the market. Dollar declined in New York trading. Market averages consolidated for the first time in the year 2006. General Motors declined 4.1%. Oil traded briefly above $65 and natural gas fell. Tokyo index closed at record high. European markets closed near unchanged mark. |
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Oil Prices Climb
Jan 12, 12:57 PM EST |
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| Johnson & Johnson offered a higher value of $23.2 billion to acquire Guidant Corp., but it is still below Boston Scientific's bid of $25 billion. |
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| U.S. stocks traded lower Thursday morning on rising oil and downgrades of Dow components Coca-Cola and J.P. Morgan Chase. Investors preferred consolidating recent gains to taking advantage of the upbeat economic news released. Trade deficit in November declined by 5.7% to $64.2B after hitting a record of $68.1B in October. Economists had expected a narrower deficit of $66 B. The number of initial jobless claims rose by 17,000 last week to 309,000 vs. expectations of an increase by 24,000. |
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Dow Loses on Downgrades
Jan 12, 11:44 AM EST |
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| BlackBerry maker Research in Motion revealed a deal with Internet search engine Google Inc. to support Google Talk instant messaging . |
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| Stocks opened lower on rising oil and downgrades of Dow components Coca-Cola and J.P. Morgan Chase. Investors preferred consolidating recent gains to taking advantage of the upbeat economic news released. Trade deficit in November declined by 5.7% to $64.2B after hitting a record of $68.1B in October. Economists had expected a narrower deficit of $66 B. The number of initial jobless claims rose by 17,000 last week to 309,000 vs. expectations of an increase by 24,000. |
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Trade Deficit Declines 5.7%
Jan 12, 9:28 AM EST |
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| Oil prices rose to $64.61 a barrel on supply concerns. European gold prices advanced. The U.S. dollar lost ground against major currencies. |
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| The Commerce Dept. reported improved trade deficit in November declining by 5.7% to $64.2B after hitting a record of $68.1B in October. Economists had expected a narrower deficit of $66 B. The Labor Dept. said that the number of initial jobless claims rose by 17,000 last week to 309,000 vs. expectations of an increase by 24,000. Guidant said it reached a new deal to be acquired by J & J which bid up $23.2 B. The increased value is still below Boston Scientific''s offer of $25 B. |
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