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Tech Powered Rally
Sep 29, 4:36 PM ET |
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| Natural gas price stays at elevated levels. Lesser than expected rise in unemployment claims and stable bond yields sparked narrow rally in averages. |
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| Government weekly report on natural gas lighted fire in the energy markets. Eighty percent of natural gas production in Gulf of Mexico remains closed. Half of the refineries in the Gulf region are expected to start soon. Tech stocks charged market rally as eBay, Yahoo, Dell, Texas Inst. registered better than 2% gains. Pepsi Q3 earnings decline but stock rises. |
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Natural Gas in Demand
Sep 29, 2:43 PM ET |
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| Crude-oil has fallen to $65.80 a barrel. Natural gas prices have crossed $14 . |
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| PepsiCo reported Q3 earnings of 78 cents a share on revenue of $18.8 billion, beating expectations. Research In Motion declined 7% on disappointing earnings report. E-Trade Financial Corp. announced it will buy BrownCo from JPMorgan Chase & Co. for $1.6 billion in cash. |
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Market on the Defensive
Sep 29, 11:38 AM ET |
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| Oil prices continue surging with crude-oil near $67 a barrel. |
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| PepsiCo reported Q3 earnings of 78 cents a share on revenue of $18.8 billion, beating expectations. Research In Motion declined 7% on disappointing earnings report. The initial jobless claims in the latest week fell by 79,000 to 356,000, 60,000 of which were related to Hurricane Katrina. The Commerce Department said that Q2 GDP figures remained unchanged at 3.3% growth. |
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Flat Opening on Oil and GDP
Sep 29, 10:44 AM ET |
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| Crude-oil rose to $66.50 a barrel, gasoline traded at $2.33 a gallon. Gold rose over $472 per ounce. The dollar declined against the euro. |
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| PepsiCo reported Q3 earnings of 78 cents a share on revenue of $18.8 billion, beating expectations. Research In Motion declined 7% on disappointing earnings report. The initial jobless claims in the latest week fell by 79,000 to 356,000, 60,000 of which were related to Hurricane Katrina. The Commerce Department said that Q2 GDP figures remained unchanged at 3.3% growth. |
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