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Tokyo Stocks Open Lower
Jan 09, 9:13 PM EST |
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| Dow climbs back above 11,000 after four long years and closes 6% below peak reached in the year 2000. Nasdaq still trades 50% below peak. |
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| Broader averages and tech heavy Nasdaq staged rally in the morning and closed up for the day. Copper, gold and silver closed near record high. Gold crossed $550 for the first time in two decades. Natural gas and oil fell as traders paid attention to weather patterns in the North American cities. IBM fell on downgrade in an otherwise strong tech sector. GM closes up on Goldman recommendation. Tokyo opened lower as financial stocks fell. |
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GM Lifts Dow
Jan 09, 3:54 PM EST |
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| Duke agreed to sell much of its North American wholesale power generation assets to LS Power Equity Partners for about $1.48 billion. |
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| U.S. stocks traded slightly higher Monday morning with investors awaiting the first flood of Q4 earnings reports to provide further upward momentum for stocks to continue their rally. Alcoa is expected to kick off the new earnings season, reporting Q4 results after the bell. A brokerage upgrade for General Motors to in-line from underperform boosted the Dow. Boston Scientific Corp. said it formally bid to acquire medical device maker Guidant for $25 billion, or $72 a share in cash and stock. |
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Flat Start ahead of Earnings
Jan 09, 11:44 AM EST |
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| Boston Scientific Corp. said it formally bid to acquire medical device maker Guidant for $25 billion, or $72 a share in cash and stock. |
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| U.S. stocks opened flat Monday with investors awaiting the first flood of fourth-quarter earnings reporsts to provide further upward momentum for stocks to continue their rally. Aluminum Alcoa is expected to kick off the new earnings season. In corporate news, Tyco International Ltd. is planning to split off from the $60 billion conglomerate both its electronics and health-care businesses in tax-free transactions. |
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Tyco to Split off from $60 B
Jan 09, 9:38 AM EST |
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| Oil prices advanced to $64.40 a barrel, while natural gas futures dropped to $9.64. Asian gold hit a 25-year high. The dollar fell to 113.75 yen. |
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| Asian-Pacific markets closed higher, buoyed by the continuing tech rally with Hong Hong hitting a five-year high of 1.3% to 15,547.43 and Australia reaching an all-time peak of 0.8% to 4,775.80. Japan was closed for a national holiday. European stocks extended recent highs, supported by gains in Adecco and easyJet. In earnings news, Helen of Troy reported Q3 earnings drop of 72 cents a share from 97 cents a year ago on lower sales, missing estimates of 77 cents a share. |
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