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Early Rally Fizzles
Aug 14, 4:00 PM EDT |
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| Market rally sparked by a drop in oil price failed to sustain as market neared the close. Gold dropped. New female CEO appointed at PepsiCo. |
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| Market averages lost early momentum as fresh questions arose on the durability of the recently brokered cease-fire in the Middle East. Oil and gold dropped, sparking a broad rally in the early hours of trading. As trading progressed investors worried about the inflation report on Tuesday. In Tokyo, Japan power cut halted trading for several hours but market closed 1.9% higher. Major European markets closed higher. |
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Europe Benefits From Lower Oil
Aug 14, 12:48 PM EDT |
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| Dutch food group Ahold gained 3% after a group of private equity firms said they are examining options to create value for Ahold stakeholders. |
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| European markets finished steeply in the positive, reflecting a significant decline by the price of oil and reduced measures at U.K. airports. Among leading gainers were airline stocks which recovered on the news of the day. British Airways advanced 1.9%, while Lufthansa rose 2%. The French CAC 40 climbed 1.2%, the German DAX 30 rose 1.1%, and London FTSE 100 gained 0.9%. |
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Whole Foods Jumps 6%
Aug 14, 11:51 AM EDT |
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| PepsiCo Inc. rose 0.6% on news that Chief Financial Officer Indra K. Nooyi would take over as CEO Oct. 1 |
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| Market averages rallied Monday morning. The Dow was helped by heavy equipment maker Caterpillar which rose 1.7%, jet maker Boeing which was up 1.3% and diversified manufacturer United Technologies, up 1.5%. Financial stocks also showed significant strength, with Schwab Corp. rising 1.7% and Ameritrade, up 1.9%. Shares of Whole Foods Market jumped 6% on news the stock was undervalued and poised to improve. |
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Buyers Show Interest in India
Aug 14, 10:30 AM EDT |
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| The Indian Sensex jumped today, tracking positive Asian markets, oil price drop and the ceasefire in the Middle East. |
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| The benchmark index ended the day in a positive territory supported by a drop in oil prices as well as by strong European and Asian markets. Refinery stocks, some auto shares and the metal sector surged. Bajaj Auto led the gainers while Reliance Industries also advanced, together with ONGC and Infosys. |
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Ford Motor Gains on Upgrade
Aug 14, 10:15 AM EDT |
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| Light, sweet crude dropped $1.18 to $73.17 a barrel on the Nymex. |
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| Stocks moved sharply higher at opening as Wall Street welcomed news of a cease-fire between Israel and Lebanon and a significant decline by oil prices. Lower oil prices contributed to significant strength among airline and other transportation stocks. Ford Motor gained 2.9% after Bear Sterns raised its rating on the stock to outperform from underperform, while General Motors lost almost 1% on downgrade from outperform to peer perform. |
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Mideast Truce Lifts Sentiment
Aug 14, 9:29 AM EDT |
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| U.S. stock futures indicated a positive opening as oil prices dropped after a truce in the Middle East took effect. |
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| Among companies, reporting earnings today, The Valspar Corp., coatings specialist, reported Q3 net income rose to 51 cents a share from 44 cents a share a year ago, beating estimates. Dillard''s Inc., department store operator, reversed to Q2 profit of 20 cents a share, up from 15 cents a share loss in the year-ago period. |
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Oil Drops $1 on Ceasefire
Aug 14, 8:23 AM EDT |
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| Oil prices declined almost a dollar Monday following the Mideast cease-fire and news that BP would maintain half of its production in Alaska. |
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| Light sweet crude for September delivery fell 92 cents to $73.43 a barrel on the Nymex. Natural gas futures fel 25 cents to $7.018 per 1,000 cubic feet. Gasoline futures dropped almost 4 cents to $2.0270 a gallon, and heating oil futures fell slightly to 2.0254 a gallon. |
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Japan Advances Despite Blackouts
Aug 14, 7:31 AM EDT |
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| Japan was higher Monday as Fast Retailing and Bridgestone scored large gains, despite the morning blackouts leading to a shutdown of Nikkei. |
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| Japanese stocks gained Monday as clothing chain operator Fast Retailing and tire-maker Bridgestone pushed the market higher. Morning blackouts in Tokyo led to a shutdown of the Nikkei stock index but failed to dampen sentiment. Hong Kong and South Korea also finished higher. The Shanghai Composite bucked the trend and ended lower. |
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Europe Higher on Ceasefire
Aug 14, 6:50 AM EDT |
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| European markets were higher on Monday, owing to dropping oil prices, coming as a result of a U.N. Brokered ceasefire between Israel and Hizbollah. |
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| European shares gained ground on Monday, after oil prices plunged in electronic trade and mergers-and-acquisition speculation once more reemerged as a market theme.The U.K. FTSE 100 index added 0.6%, the German DAX Xetra 30 index rose 0.8% and the French CAC-40 index increased 0.8%. |
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Gold and Copper Settle Down
Aug 14, 6:16 AM EDT |
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| Gold fell Friday as it lacked direction, while copper was lower on likely resolution of the strike at Chile's Escondida mine. |
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| Union leaders met with the management on Friday to try to resume formal negotiations.Negotiations are expected to go well into the night. Meanwhile, gold settled lower in a summer dull session. Silver and palladium followed gold down. |
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