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Volatile Market
Apr 04, 6:06 PM EDT |
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| Market averages are charting a familiar course of rising trend in the morning and falling course in the afternoon for the second day in a row. |
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| Market averages are in the decline after rising in the morning. Falling oil in the morning contributed to the rise in averages. Google rose 3.5%. Apple Computer lost 2% on broker downgrade. Brokerage and construction equipment stocks rose for the second day in a row. Las Vegas Sands jumped up 5% and Lehman Bros and Bear Stearns up 3% at close. |
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Thailand, India lead Emerging Markets
Apr 04, 5:11 PM EDT |
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| Prime Minister of Thailand resigned despite leading in the overnight election. Thailand closed up 1%. |
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| Emerging markets continued their slow but steady clibm for the second trading day of the second quarter. Markets in Asia and Latin America mostly closed higher on strong liquidity. Thailand led the gainers with 0.9% rise but may encounter volatility in the coming days. India rose to all-time closing high and Hong Kong closed at new five year high. |
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Familiar Afternoon Sell-Off
Apr 04, 3:18 PM EDT |
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| Market averages are charting a familiar course of rising trend in the morning |
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| Market averages are in the decline after rising in the morning. Falling oil in the morning contributed to the rise in averages. Google rose 3.5%. Apple Computer lost 2% on broker downgrade. Brokerage and construction equipment stocks rose for the second day in a row. Las Vegas Sands jumped up 5% and Lehman Bros. and Bear Stearns
up 3%. |
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Oil Stocks Paint Europe Red
Apr 04, 1:08 PM EDT |
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| Lower oil prices sent energy companies down with BP falling 1.5%, Royal Dutch Shell losing 0.7%, and Total also down 1.8%. |
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| European markets finished in the red, dragged by weakness among energy and mining stocks. Energy companies like BP, Royal Dutch Shell declined, while miners RioTinto and BHP Billiton failed to sustain recent solid gains. However, automakers advanced with Porsche and Volkswagen closing higher. The German DAX 30 fell 0.2%, the French CAC 40 lost 0.9%, and London FTSE 100 dropped 0.3%. |
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Citigroup up on Lifted Ban
Apr 04, 12:32 PM EDT |
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| 3M Co. climbed 2.7% after the Dow component announced a plan to sell its branded pharmaceutical business. |
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| In early session stocks traded in a lackluster fashion on cautiousness ahead of the start of the new earnings season and a key employment report, but going into afternoon trading the averages entered the positive territory. Citigroup gained 1.8% after the Federal Reserve Bank of New York lifted a year-long ban on new acquisitions. |
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Continental Airlines Gains
Apr 04, 11:06 AM EDT |
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| 3M Co. climbed $1.63 after the Dow component announced a plan to sell its branded pharmaceutical business. |
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| Stock markets lacked drivers and traded in a lackluster fashion. Investors stood on the sidelines, staying away from major moves ahead of the start of the new earnings season and a key employment report. In corporate news, Citigroup gained after the Federal Reserve Bank of New York lifted a year-long ban on new acquisitions. Continental Airlines rose 2.3% after the company reported 81.2% rise in its March load factor. |
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CSC in Deal Talk for $11B
Apr 04, 10:08 AM EDT |
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| Crude oil prices declined to $66.10 a barrel on speculations of strong stockpiles. European gold traded mixed. The U.S. dollar lost ground. |
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| Stocks were steady at opening, in line with futures predictions. Among stocks in focus, Computer Sciences is expected to be active as the company is in talks to sell itself for about $10.6 billion, and also is expected to announce 5,000 job cuts. In other news, Arcelor announced a series of measures to spurn Mittal Steel''''s hostile offer. |
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Walgreen Sales Rise
Apr 04, 9:17 AM EDT |
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| Crude oil prices declined to $66.10 a barrel on speculations of strong stockpiles. European gold traded mixed. The U.S. dollar lost ground. |
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| Stock futures pointed to a modestly higher start, reflecting optimism on strong corporate earnings and cautuoisness ahead of March employment report. Merrill Lynch dropped 2.8% in pre-market trading after the company said it will take a $1.2 billion charge in the Q1 after it adopts new accounting standards for stock options. Walgreen reported that March same-store sales advanced 4.3%, while total sales advanced 9.2%. |
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Record High Sensex in India
Apr 04, 8:41 AM EDT |
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| Sensex in India crossed 11,600 on banking and pharmaceutical stocks. Reliance Petroleum raised $550 for the refinery project. |
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| Sensex in India rose 74 points to a new record on strong liquidity and buying in banking stocks. Investors remain optimistic on the earnings for the new fiscal year. VSNL, Ranbaxy, Relaince Industries and ITC rose on news. Stock trading turnover remained at $1billion level in the session. |
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Europe Slips on Miners
Apr 04, 8:24 AM EDT |
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| Arcelor lost 1.8% after it unveiled a series of takeover defenses, including a special payment of more than $6 billion to shareholders. |
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| European shares lost ground at mid-day, reflecting mixed close on Wall Street overnight and weakness in mining stocks like Rio Tinto and BHP Billiton, which failed to sustain recent gains. The German DAX 30 fell 0.2%, the French CAC 40 lost 0.5%, and London FTSE 100 dropped 0.4%. |
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