Author: 123jump.com Staff
123jump.com
Last Update: 4:47 PM EDT June 04 2007

Shanghai fall did not drag averages in New York down, but impacted trading in Europe and Brazil. Overnight fall of 8% in Shanghai only fueled worries that Chinese consumer spending may come under pressure. In the U.S., Wal-Mart gained on several broker upgrades and Avaya rose on buyout from private equity. Crude oil rose on supply disruptions in Nigeria. Solectron agreed to merge with Flextronics and Palm sold 25% stake to private equity group. Brazil stock market crossed $1 trillion mark.