|
|
|
Spend & Rally
Mar 01, 4:45 PM EST |
|
| Consumers desire to keep spending, broker upgrades on semi stocks, stable crude oil inventory all fueled the rise of broader averages today. |
|
| Mild rise in inflation indicator, healthy consumer spending and stable construction spending in January all supported the rise in broader averages. Semiconductor stocks rose as several brokers indicated positive comments. Altera, National Semi and Texas Instruments gained. AutoDesk and American Eagle rose more than 10% on earnings. India based ADRs including Infosys, Satyam, Tata Motors and ICICI gained. Closed-end funds India Funds jumped more than 3%. GM and F January auto sales declined. |
|
|
Full Story... |
Ample Fuel Supplies
Mar 01, 1:06 PM EST |
|
| Crude oil inventories rose1.6 million barrels for the week ended Feb 24, while gasoline inventories posted a week-over-week growth of 300,000 barrels. |
|
| Stocks advanced Wednesday on upbeat economic data and gains in big-cap tech stocks like Cisco Systems which drove the Nasdaq up 1%. Autodesk posted Q4 profit rise, beating estimates and raised its financial forecast for 2007. Personal income rose 0.7% in January, higher than the expected 0.6% rise, while personal spending grew 0.9%, slightly below forecasts of 1% growth. |
|
|
Full Story... |
Autodesk up 10% on Earnings
Mar 01, 11:41 AM EST |
|
| Personal income rose 0.7% in January, higher than the expected 0.6% rise, while personal spending grew 0.9%, slightly below forecasts of 1% growth. |
|
| Stocks advanced Wednesday morning on speculations that consumer income and spending data would give the Fed Reserve reason to end its interest-rate hikes. Design software maker Autodesk posted Q4 profit rise of 33 cents a share, beating estimates and raised its financial forecast for 2007. Luxury retailer Saks posted Q4 profit loss of 2 cents a share vs. profit of 68 cents a year ago, blaming charges. Saks plans to pay a special $4 cash dividend. |
|
|
Full Story... |
Spending Outpaces Income
Mar 01, 9:38 AM EST |
|
| Oil rose to $61.95 a barrel on expectations of ample energy supplies. European gold climbs. The dollar gained against the yen. |
|
| Asian markets closed mixed. The Nikkei tumbled 1.5% hurt by auto and tech stocks, while Indian Stock Exchange index hit a fresh all-time high of 1.9% at 10,565.47. European averages recovered from recent losses on gains in Vivendi Universal and Xstrata. Pilgrim''s Pride said it was withdrawing its previously-issued outlook for Q2 and the full fiscal year. Personal income rose 0.7% in January, while personal spending grew by 0.9%. |
|
|
Full Story... |
1
 |
|
