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Dow Down, S&P and Nasdaq Gain
Dec 30, 6:05 PM EST |
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| Dow closed down 0.61%, S&P gained 3% and Nasdaq advanced 1.37% for the year. Oil jumped 38% and gold advanced 18% for the year. Nikkei gained 40%. |
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| For the year large-cap stocks showed little conviction to move higher as reflected in meager gains in S&P and loss in Dow. In the year stock traders paid attention to the rising prices of copper, gold and other precious metals. Advances in crude oil and natural gas also put market on the edge as investors feared the return of inflation. The 38% of the 40% gain in Nikkei was registered in the second half of the year. |
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Dow to End 2005 Down
Dec 30, 12:32 PM EST |
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| Citigroup is leading a consortium offering $3 billion for a stake in Chinese bank Guangdong. Google is reportedly sued by Rates Technology for $5 B. |
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| U.S. stocks slipped on the last trading day of 2005. With no S&P 500 companies scheduled to report earnings and no major economic reports due out on Friday, volume was very light. The Dow industrial average threatened to close the year down for the first time since 2002 as investors sold off some of the best performers of 2005, including Apple Computer Inc. For the year, Apple rose 129% on the Nasdaq, while Hewlett-Packard advanced 36% on the Nymex. |
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Fading Trading
Dec 30, 11:04 AM EST |
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| Citigroup is leading a consortium offering $3 billion for a stake in Chinese bank Guangdong. |
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| The last trading session of 2005 opened in the negative as investors gave up on the fading fourth-quarter rally and locked in gains made throughout the year. With very little news to drive buying, the Dow Jones industrial average is likely to close 2005 with a loss for the first time since 2002. The other two major averages are expected to finish with modest gains. |
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Citigroup Offers $3 B for Chinese Lender Stake
Dec 30, 9:20 AM EST |
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| Crude oil declined below $60 a barrel on profit taking. European gold advanced. The gollar lost vs. the yen, rose vs. the euro. |
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| Asian-Pacific benchmarks finished mixed to lower, led by the Nikkei, down 1.4% on profit-taking. For the whole year the Japanese index gained 40.24%. Another loser of the session was Hong Kong''s Hang Seng, down 1.12% with a total gain for the year of 4.5%. India''s BSE advanced 0.7%. European stocks were also weak with the German DAX 30 and the French CAC 40 the biggest losers, down 1.1% and 1.2% respectively. |
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