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Broad Advance
Mar 29, 4:19 PM EST |
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| Tech powered rally in Nasdaq stocks was also followed by a rally in energy, mining and financial brokerage stocks. Google up $18. |
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| After the interest rate hike markets around the world adjusted to the higher rates and rose from Japan to UK,France, Germany, Mexico, India and Brazil. Crude oil, gold, silver and copper also staged a rally powering stocks in the energy and mining sector. Tech stocks staged a strong advance as hardware, software, Internet stocks rose and recent favorites Google and Apple made a comeback. |
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Tech and Financials Lead Gainers
Mar 29, 2:11 PM EST |
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| Tech stocks lead a strong rally in Nasdaq stocks as Google and Apple jump 4%. Financial brokers and defense stocks rise as well, Nasdaq lead averages. |
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| in the early afternoon trading tech stocks lead a strong rally in Nasdaq stocks with a gain of 1.4%. Financial brokers and investment bankers rise along with tech stocks. Three major averages are trading at their best level for the day as Dow and S&P join the tech lead advance. Energy stocks are on the move on volatile energy price and weekly energy report. Two REITs Boston properties and Kimco Properties will be added to S&P 500. |
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Energy Stocks Help Europe
Mar 29, 1:04 PM EST |
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| Crude oil inventories climbed by 2.1 million barrels for the week ended Mar 24., while gasoline inventories posted a drop of 5.4 million barrels. |
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| European averages closed higher as strength in energy stocks offset concerns about interest rate increases and mixed performance in the retail sector. The German DAX 30 rose 0.4%, the French CAC 40 climbed 0.6%, and London FTSE 100 gained 0.4%. |
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Google Leads Nasdaq up
Mar 29, 11:59 AM EST |
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| Crude oil inventories climbed by 2.1 million barrels for the week ended Mar 24., while gasoline inventories posted a drop of 5.4 million barrels. |
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| Bargain hunting helped stocks trade in the positive with the Nasdaq jumping 1%, supported by 3.2% rise in Google shares and 5.4% rise in Sun Microsystems stock. The Dow was helped by shares of 3M Co. which rose 2.3%. Shares of GM fell 3.9% after saying it would restate financial results for financing arm GMAC from 2003 through the third quarter of 2005. |
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Strong Oil, Weak Gasoline
Mar 29, 10:57 AM EST |
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| Crude oil inventories climbed by 2.1 million barrels for the week ended Mar 24., while gasoline inventories posted a drop of 5.4 million barrels. |
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| Bargain hunting helped stocks trade in the positive, recovering from the heavy losses posted yesterday after the Fed Reserve released its statement on interest rate hikes. Brokerage upgrades on 3M and Sun Microsystems lifted market sentiment. Shares of 3M rose 2.6%, while Sun Microsystems jumped 6.2%. Shares of GM fell 3.9% after saying it would restate financial results for financing arm GMAC from 2003 through the third quarter of 2005. |
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3M Gains on Upgrade
Mar 29, 10:00 AM EST |
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| GM slipped 4% after saying it would restate financial results for financing arm GMAC from 2003 through the Q3 of 2005. |
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| Stock started trading higher after the heavy losses posted yesterday on another increase of interest rates and signals, given by the Fed Reserve that hikes may continue. Brokerage upgrades on 3M and Sun Microsystems lifted market sentiment. Shares of 3M rose 2.6%, while Sun Microsystems jumped 6.2%. Meanwhile, UBS downgraded machinery giant Caterpillar to neutral from buy. |
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Stock Futures Rise
Mar 29, 9:18 AM EST |
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| Crude oil prices fell below $66 on profit taking. European gold declined. The U.S. dollar gained strength vs. major currencies. |
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| Stock futures were in a positive mood Wednesday morning, indicating a higher trading start after the heavy losses posted yesterday on another increase of interest rates and signals, given by the Fed Reserve that hikes may continue. Brokerage upgrades on 3M and Sun Microsystems lifted market sentiment. Shares of 3M rose 1.4%, while Sun Microsystems jumped 4.2%. |
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Sensex Scales Fourth Day Advance
Mar 29, 8:59 AM EST |
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| Sensex index in India reached another high after advancing for the four days in a row. Sugar and software exporters led the rally. |
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| Market in India rose for the fourth day in a row to a new high after adding 0.9% for the day and 3.2% in the last four days. Broad buying from the local and foreign investors led the advance but on a significant declining volume. Sugar and software exporters led the rally on higher sugar prices and rising earnings expectation. |
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European Stocks Recover
Mar 29, 8:21 AM EST |
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| BG Group rose 4.4% on news that the gas exploration company is in bid talks with Exxon Mobile. |
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| European averages advanced, recovering from two-day declines. Stocks were supported by strength in Asian markets and largely ignored the weakness on Wall Street, following the Fed Reserve''s decision to increase interest rates. The German DAX 30 added 0.2%, the French CAC 40 rose 0.5%, and London FTSE 100 climbed 0.6%. |
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Nikkei Hits a New High
Mar 29, 7:58 AM EST |
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| At close, Yahoo Japan rose 7.6%, Tokyo Electron climbed 3.4%, and Advantest Corp was up 3.9%. Mizuho Financial rose 1.7%,Tokyo Star Bank gained 1.4%. |
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| Asian-Pacific benchmarks closed mostly higher. The Nikkei hit a new five-and-a-half-year high of 1.5% to 16938,41 on improved confidence in economic recovery and fresh fund flows. Tech stocks and exporter issues gained on stronger dollar. Singapore Straits Times reached a six-year high, rising 0.3%. Taiwan Weighted index rose 0.7%, China Shanghai Composite gained 0.5%, while Hong Kong Hang Seng dropped 0.7%. |
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