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Strong Rally
Oct 19, 4:23 PM EDT |
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| EARNINGS WIRE: eBay. 18 cents, 20 cents excluding one time charge, vs. 13 cents a year ago and estimate of 20 cents. |
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| Strong housing starts in September despite rising mortgage rates, higher crude oil and gasoline inventories drove housing stocks higher and energy stocks lower. Fed's economic survey for the month of September showed strong economic activity with contained inflation pressures. JP Morgan net up 79% and that of Bank of America's up 9.6%. Chicago Board of Options and Trade's holding company IPO up 50% from the offer price but down 10% from the day's peak. |
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Market Rally on Beige Book Report
Oct 19, 3:21 PM EDT |
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| Crude oil dropped by $1 on better-than-expected weekly petroleum report, showing an increase of 5.6 million barrels to 312 million. |
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| CBOT public offering of 3.2 million shares was priced at $54 per share. Shares of the stock opened at $82. Intel posted disappointing earnings and sales forecast. Peabody Energy Corp. doubled its Q3 profit on high coal prices, but missed estimates by a penny. JP Morgan reported 78% profit jump, missing estimates by a penny. Yahoo posted 47% revenue growth, beating earnings estimates. |
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CBOT IPO up 60%
Oct 19, 11:09 AM EDT |
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| The Department of Energy reported that crude oil inventories climbed by 5.6 million barrels for the week ended Oct. 14, rising to 312.million barrels. |
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| CBOT public offering of 3.2 million shares was priced at $54 per share. Shares of the stock opened at $82. Intel posted disappointing earnings and sales forecast. JP Morgan reported 78% profit jump, missing estimates by a penny. Yahoo posted 47% revenue growth, beating earnings estimates. The Commerce Department reported that new housing construction in September rose 3.4% to an annualized rate of 2.108 million units. |
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Markets Slide on Intel
Oct 19, 10:09 AM EDT |
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| Oil prices rose on category 5 Hurricane Wilma and later steadied over $63 a barrel. Gold further declined. The dollar rose vs. the euro and yen. |
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| Asian markets closed with heavy losses on U.S. inflation fears, led by Seoul's Kospi, down 2.8%. The Nikkei shed 1.7%. European stocks sharply declined with the German DAX 30 in the lead, down 1.6%. Intel posted 5%rise in earnings in Q3. Forecasted disappointing revenue growth. JP Morgan reported 78% profit jump, missing estimates by a penny. Yahoo posted 47% revenue growth, beating earnings estimates. The housing starts in Sept. unexpectedly rose by 3.4%. |
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