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Market Ignores Record Deficit
Mar 09, 5:22 PM EST |
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| Record trade deficit in January and rise in initial claims of unemployment did not impact market. Markets still managed to clsoe lower. |
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| Markets around world spent another day in adjusting to new interest rate environment. Overnight news on Japan interest rate scenario boosted stocks in Tokyo and most European markets but markets in Brazil, Mexico and Canda fell for the third day in a row. Brazil, Russia and Turkey fell by 2.62%, 2.5% and 3.5% respectively. Tech stocks took a dive as Google and Apple lost 3.07% and 2.6% repsectively. Home builders, casinos, and brokerage sotcks lost ground at close. |
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European Stocks Advance
Mar 09, 1:19 PM EST |
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| Crude oil hovered over $60 a barrel. European gold advanced to $547.30. The U.S. dollar gained vs. the euro and pound. |
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| European markets posted solid gains Thursday, lifted by gains on Wall Street, merger-and-acquisition speculations as well as stong performance of pharmaceuticals. The German DAX 30 led gainers rising 1%. |
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UAW Denies a Deal with GM
Mar 09, 12:54 PM EST |
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| Trade deficit jumped by 5.3% in January to an all-time high of $68.5 billion. The Labor Department said unemployment claims rose by 8,000 last week. |
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| Stocks got off intraday highs and moved sideways at mid-day, reflecting nervousness ahead of job creation report Friday. Markets traded in the positive Thursday morning on confidence in global economy, bolstered by the Bank of Japan decision to end its easy monetary policy. General Motors rose 5% as the company said it neared a deal with the United Auto Workers union for cutting costs, but UAW denied being close to a deal. NYSE Group jumped 5.2% in its second day of trading on the NYSE. |
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NYSE Group Rises 5%
Mar 09, 12:16 PM EST |
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| Trade deficit jumped by 5.3% in January to an all-time high of $68.5 billion. The Labor Department said unemployment claims rose by 8,000 last week. |
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| Stocks traded higher on confidence in global economy, bolstered by the Bank of Japan decision to end its easy monetary policy. General Motors rose 5% as the company neared a deal with the United Auto Workers union for cutting costs. NYSE Group jumped 5.2% in its second day of trading on the New York Stock Exchange, adding to its 25% gain. |
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GM Climbs 5%
Mar 09, 10:46 AM EST |
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| Trade deficit jumped by 5.3% in January to an all-time high of $68.5 billion. The Labor Department said unemployment claims rose by 8,000 last week. |
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| Stock markets opened higher, reflecting news that the Bank of Japan decided to end its easy monetary policy. Lower oil prices and easing inflation concerns also supported sentiment. TiVo Inc. reported narrower quarterly loss on 38% revenue rise. General Motors rose 5% as the company neared a deal with the United Auto Workers union for cutting costs. |
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Google to Settle a Lawsuit
Mar 09, 9:31 AM EST |
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| Crude oil hovered over $60 a barrel on steady output levels and ample fuel supplies. Euiropean gold rebounded. The dollar traded lower. |
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| U.S. stock futures pointed to a positive opening on oil prices decline and easing inflation worries. Shares of Wind River Systems fell 16.3% on earnings that missed analyst estimates. Biogen Idec rose 8.5% after experts agreed to return its multiple sclerosis drug Tysabri to the U.S. market. Google announced it is close to a settlement of a class action lawsuit concerning click fraud under which it would pay up to $90 million. |
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Nikkei Surges 2.6%
Mar 09, 8:22 AM EST |
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| Among technology companies Advantest rose 4.2%, TDK surged 3.6%. Construction, trading companies and banking stocks also gained. |
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| Asian-Pacific benchmarks closed largely in the positive as the Bank of Japan announced a decision to abandon its ultra-easy monetary policy and return to a more normal policy. The news sent the Nikkei 2.6% higher to 16,036.91 and boosted the yen to 117.44 against the dollar. Among other regional markets, Taiwan Weighted index rose 0.4%, while South Korean Kospi declined 0.2%. |
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