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GM and UAW Negotiate
Oct 15, 10:17 AM EDT |
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| GM is scheduled to release loss of 87 cents this Monday. UAW and GM is hoping to release a deal to cut health care bill of $5.6 billion. |
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| Market braved the rally at the end led by financial stocks. Disappointing retail sales, falling consumer confidence and oil prices and sharpest rise in CPI in 25 years did not deter market's ascend. GE, United Health and Knight Ridder met or beat the eestimates but Boston Scientific disappointed the market. Gasoline futures dropped to a six-month low. |
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Core Inflation at 0.1%
Oct 14, 1:23 PM EDT |
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| GE posted 15% profit growth in the third quarter, meeting estimates. Boston Scientific released disappointing Q3 profit. |
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| The Labor Dept. said that consumer prices rose 1.2% in September on higher energy prices, exceeding expectations of a 0.9% rise. Another report showed that retail sales in September increased by 0.2%.The Federal Reserve reported that industrial production fell by 1.3% in September, mostly due to hurricane-related issues. |
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GE Posts Higher Q3 Profit
Oct 14, 11:25 AM EDT |
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| GE posted strong Q3 earnings of 44 cents a share, meeting estimates. Boston Scientific released disappointing Q3 profit of 42 cents a share. |
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| The Labor Dept. said that consumer prices rose 1.2% in September on higher energy prices, exceeding expectations of a 0.9% rise. Another report showed that retail sales in September increased by 0.2%.The Federal Reserve reported that industrial production fell by 1.3% in September, mostly due to hurricane-related issues. |
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Consumer Prices Jump 1.2%
Oct 14, 9:17 AM EDT |
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| Oil prices sharply fell below $62 a barrel on lower demand. Gold fell. The U.S. dollar traded up vs.the pound, but down vs.the euro and yen. |
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| Asian benchmarks closed lower ahead of U.S. inflation data, led by Hong Kong's Hang Seng, down 1%. The Nikkei shed 0.2%. European stocks traded in the negative territory with the French CAC 40 leading the losers. General Electric posted strong Q3 earnings of 44 cents a share, meeting expectations. Hilton Hotels Corp. is buying Hilton Group's hotels for $6.3 billion. Consumer prices rose 1.2% in September on higher energy prices, exceeding expectations of a 0.9% rise. |
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