|
|
|
Fed Action Lifts Global Markets
Jul 30, 5:13 PM ET |
|
| The Fed in a coordinated move with the European and Swiss central banks added liquidity. Oil fell $5 a barrel. |
|
| U.S. stocks closed higher for the second day in a row after crude oil price fell $5 a barrel and the Fed offered longer term notes and extended access to the discount window for commercial banks. CB Richard Ellis plunged 25% after it reported 88% decline in earnings. Of the stocks in S&P 500 index, 360 increased, 134 declined and 6 were unchanged. Brazil surged 3.4% and India soared 3.6%. Most European markets gained more than 1.4%. |
|
|
Full Story... |
Tokyo Stocks Rise, Matsushita Earnings Surge
Jul 30, 4:13 PM ET |
|
| A fall in crude oil prices and a rise in U.S. consumer confidence lifted trading sentiment and Tokyo stock benchmarks. |
|
| Stocks in Japan rallied after a fall in crude oil prices in the region, a sharp rise in Matsushita earnings and expectations of better economic conditions in the U.S. June industrial production in Japan fell 2%. In earnings news, Matsushita earnings in the first quarter rose 86% to 73 billion yen. Nidec, precision motor maker reported 36% rise in net income to 15 billion yen. |
|
|
Full Story... |
Xstrata Lift Miners, Fed Moves Financials
Jul 30, 4:55 PM ET |
|
| A coordinated move between the Fed, the Swiss National Bank and the ECB to increase liquidty lifted financial stocks. |
|
| UK stocks closed higher led by miners and financials. The Fed in a conjunction with the Swiss National Bank and the ECB increased its dollar loan facility in Europe, offered longer dated short term loans and extended its access to discount window facility to commercial banks. Separately, Lloyds TSB fell 5% after it reported 70% decline in profit for the first half. However, Xstrata rose 6% after it estimated higher copper and nickel prices and higher output in the second half. |
|
|
Full Story... |
Stocks Falter, Oil Rebounds $5
Jul 30, 4:59 PM ET |
|
| Crude oil rebounded as much as $5 a barrel after the weekly inventories data showed a decline in inventories on lower supplies. |
|
| U.S. stocks traded higher in the early afternoon as crude oil futures rose and financials kept their gains of the day. Crude oil rose more than $5 a barrel after a weekly inventory report showed a larger than expected decline in inventories. Supplies at the end of the last week declined about 5 million barrels. Connecticut sued three bond rating agencies for assigning lower rating on municipal bonds for comparable corporate debt structures. |
|
|
Full Story... |
Fed, SEC Extensions, Stocks Rise
Jul 30, 11:41 AM ET |
|
| Financial stocks advanced for the second day in a row. Crude oil and gold fell. President Bush put his approval on the emergency housing bill. |
|
| U.S. stocks edged higher for the second day after financials gained and crude oil futures declined. Banks and mortgage lenders Fannie and Freddie rose after SEC extended controversial trading ban on short selling till August 12. In earnings, Cummins rose after second quarter earnings gained 37% but CB Richard Ellis plunged 19% after earnings fell 88%. An employment survey by ADP showed a gain of 9,000 jobs in July. The Fed extended its access to discount window to investment banks till January. |
|
|
Full Story... |
1
 |
|
