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New Shine on Gold
Sep 15, 4:50 PM ET |
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| Lackluster market could not shake-off inflation fears, even after latest report showed tame core inflation. Market focused on post Katrin inflation. |
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| Well, gold is back in favor, and for good reasons. Federal deficit is likely to be higher, when one add up the cost of Gulf of Mexico rebuild, Iraq costs, airline bankruptcies driving pension obligations and ever rising oil prices. Twin deficits of trade and budget are here to stay and market is finally realizing that, even though averages do not reflect that yet. Bear Stearns earnings failed to impress market and Pier One stock rose 9% on earnings. |
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Market Still Searching For Direction
Sep 15, 1:02 PM ET |
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| Oil prices eased below $65 a barrel on forecast of lower fuel demand. Metals-mining indexes on a nine-month high, pushed up by rising gold. |
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| Government's report said that CPI climbed by 0.5% in August, in line with expectations. Core CPI rose 0.1% vs. expectations of 0.2%. The Labor Department said that the initial jobless claims rose to 398,000. The Federal Reserve Bank of Philadelphia revealed that its diffusion index of current manufacturing activity dropped to 2.2 for September compared to a reading of 17.5 for August. |
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Time Warner in Talks to Sell AOL to Microsoft
Sep 15, 11:49 AM ET |
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| Crude-oil prices surged to $65.38 a barrel. Gold prices on the rise. Time Warner is reported to be in talks to sell AOL to Microsoft. |
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| Asian-Pacific markets closed mixed with the Nikkei up 1.2% on improved household confidence, while Taiwan's stocks lost 1.1% on raised interest rates. European shares were generally higher at mid-day on oil and mining stocks. Government's report said that CPI climbed by 0.5% in August, in line with expectations. Core CPI rose 0.1% vs. expectations of 0.2%. The Labor Department said that the initial jobless claims rose to 398,000. |
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Strong Opening on CPI and M&A
Sep 15, 9:38 AM ET |
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| Crude-oil surged over $65 a barrel on supply shortage concerns. The U.S. dollar gained against other major currencies. |
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| Asian-Pacific markets closed mixed with the Nikkei up 1.2% on improved household confidence, while Taiwan's stocks lost 1.1% on raised interest rates. European shares were generally higher at mid-day on oil and mining stocks. Government's CPI report said that CPI climbed by 0.5% in August, in line with expectations. Core CPI rose 0.1% vs. expectations of 0.2%. Bear Stearns posted 29% income growth in 3Q. |
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