|
|
|
Optimist Traders
May 05, 5:00 PM EDT |
|
| Market was in rally mood and it showed in tech, financial, industrial and brokelrage stocks. |
|
| Market averages staged rally taking Dow, Nasdaq and S&P to a milti-year high. April payroll data of 138,000 was lower than market estimate of 205,000. Market rallied hoping that the Fed will reconsider future rate hikes. Financials, brokers and tech stocks climbed. European and Asian stocks gained at close as well. gold closed at 26-year high. EOG Resources and El Paso 12% and 6% on earnings. Expeditors Intl and Terex rose sharply. |
|
|
Full Story... |
Europe Closes Higher
May 05, 12:48 PM EDT |
|
| Shares of Sanofi-Aventis slipped 1%, despite strong quarterly results, with Q1 profit up 54% on 9.6% sales growth. |
|
| European markets ended sharply higher, lifted by weaker-than-expected U.S. economic data and merger-and-acquisition news. Banking group Alliance & Leicester rose 7% and Dutch media company VNU gained 5% on bid speculations. The German DAX 30 surged 1.2%, the French CAC 40 climbed 1%, and London FTSE 100 advanced 0.9%. |
|
|
Full Story... |
Dow Rallies
May 05, 11:48 AM EDT |
|
| Crude for June delivery was last up 56 cents at $70.50. Gold for June delivery rose to $679.50 an ounce. Copper was down 1.3 cents at $3.46 a pound. |
|
| Weaker-than-anticipated employment data and cooling oil prices sent U.S. stocks sharply higher, with the Dow reaching a new six-year high. Toll Brothers rose 2.2%%, despite reporting a 29% decline in the value of signed contracts and cut its delivery estimate for the year by 200 homes. El Paso surged 9% on Q1 threefold earnings rise, beating forecasts. Warner Music rose 1.6%, despite reporting a narrower-than-expected loss. |
|
|
Full Story... |
Volatile Indian Market
May 05, 10:47 AM EDT |
|
| Amidst a highly uneven session, the Sensex ended flat, after a week of intense volatility. A powerful rally, led by Reliance, fueled the trading. |
|
| The index started stable on a strong buying impulse and strong global markets and then soared in the trading. Moody’s also contributed to the firm start by changing the domestic currency debt from negative to stable. Later the index fluctuated heavily, falling prey to a high degree of volatility to end flat. |
|
|
Full Story... |
Medco Health Net Falls 66%
May 05, 10:23 AM EDT |
|
| Crude oil prices climbed back above $70 to $70.62 a barrel. European gold hit a new 25-year high. The U.S. dollar gained strength. |
|
| Stocks surged at opening on weaker-than-expected employment data which helped to offset worries about interest rate increases. The Labor Department said the U.S. economy added 138,000 jobs in April, compared with a forecast of 200,000. In earnings news, El Paso reported Q1 net income rise to $346 million or 49 cents per share. Sanofi-Aventis reported Q1 net income advanced 54% on 9.6% sales rise. Medco Health Solutions posted a 66% slide in Q1 profit, hurt by a $100 million charge. |
|
|
Full Story... |
Weaker Job Growth
May 05, 9:12 AM EDT |
|
| El Paso reported Q1 net income rise to $346 million or 49 cents per share from $106 million, or 17 cents per share last year. |
|
| The Labor Department said that non-farm payroll employment increased by 138,000 in April following a downwardly revised increase of 200,000 in March. Economists had expected an increase of 200,000 jobs. The report showed that notable job growth was shown by the financial, health care, and manufacturing industries. The Labor Department added that the unemployment rate remained unchanged at 4.7%. |
|
|
Full Story... |
Mergers Lead Europe up
May 05, 8:15 AM EDT |
|
| Banking group Alliance & Leicester soared 6.7% in London on speculation that the company is in bid talks with Spain's Banco Santander Central Hispano. |
|
| European markets advanced at mid-day, lifted by strong U.S. markets close Thursday, merger-and-acquisition news, and oil prices below $70 a barrel. Investors were somewhat cautious ahead of key U.S. economic data. The German DAX 30 rose 0.4%, the French CAC 40 climbed 0.6%, and London FTSE 100 advanced 0.6%. |
|
|
Full Story... |
Commodities Power Australia
May 05, 8:00 AM EDT |
|
| Australia gained on commodity shares, while Taiwan hit a new high on strong fund glows. A host of markets were closed due to national holidays. |
|
| The Australian benchmark was fueled by a rally in metal prices, ignited by BHP Billiton in the wake of their comment about copper market. In Taiwan the strong tech stock, together with the financial shares, boosted the Taiwan Weighted Index to a five-year high. Gold and oil prices advanced as well, the bullion spot prices struck a new high in Australian trading. |
|
|
Full Story... |
1
 |
|
