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Trimmed Rally
Dec 06, 4:21 PM EST |
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| Gold and silver advanced and oil traded volatile during the session. Factory orders rose in October. Q3 labor productivity was revised upwards. |
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| October new factory orders showed a jump of 2.2% after declining by 1.4% in Septemeber. Third quarter labor productivity was revised upwards 4.3% from 4.1% as labor cost declined 1% revised from previous estimate of 0.5% fall. Kroger, grocery chain, delivered earning in-line with the estimates of 25 cents for the Q3. Apple stock rose 3% on a recommendation from a broker. |
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Retails and Techs Rise
Dec 06, 12:47 PM EST |
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| October factory orders surprisingly rose by 3.4%, compared to a 2% decline in September, beating estimates of a rise of 2.2%. |
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| Time Warner Inc. slid on news that the company''s America Online division is close to a deal with Microsoft Corp. to create an online advertising service in competition with Google Inc. Sears Holdings Corp. posted sharp quarterly profit drop from the prior year, but beat estimates. UBS analyst raised estimates for both Apple''''s stock price and Q1 earnings because of the great popularity of iPods with consumers. |
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Apple Hits a New High
Dec 06, 10:59 AM EST |
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| The Labor Dept. released its revised reading for Q3 productivity rose by 4.7% seasonally adjusted annual rate, above the expected 4.5% increase. |
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| Time Warner Inc. slid on news that the company''s America Online division is close to a deal with Microsoft Corp. to create an online advertising service in competition with Google Inc. Sears Holdings Corp. posted sharp quarterly profit drop from the prior year, but beat estimates. UBS analyst raised estimates for both Apple''s stock price and Q1 earnings because of the great popularity of iPods with consumers. |
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Healthier Gain In Productivity
Dec 06, 10:07 AM EST |
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| Oil prices slipped under $60 a barrel, despite cold weather forecast. Gold hovered near a 25-year high at $510 per ounce. The dollar rose. |
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| Asian-Pacific benchmarks finished in the red on profit-taking and higher oil prices. Hong Kong was the biggest decliner, down 1.1%, followed by the Nikkei, down 0.8%. European stocks advanced at mid-day, boosted by telecoms and financials with the German DAX 30 in the lead, rising 0.7%. In economic news, the Department of Labor released its revised reading for Q3 productivity with the measure now showing a 4.7% seasonally adjusted annual growth rate, above expectations of 4.5%. |
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