In the United States meeting in accordance with the crisis caused by the global financial turmoil, the United Kingdom shares plummeted over the past few days, the market panic tension. At the same time, the United Kingdom inflation surge in consumer prices rise, the parties to forecast the British economy will accelerate the recession, the negative atmosphere.
According to the Hong Kong Ta Kung Pao reported that the Bank of England to the market Monday put five billion pounds after the issuance of 20 billion again Tuesday to rescue the market. However, the British Financial Times index is still down 178 points Tuesday, dropped to the lowest level in three years. Today in the U.S. insurance group AIG, under an emergency, even though the U.S. government to take action to rescue the market, British shares were still trading down.
Tuesday the major British banking stocks were down in an emergency, in which Britain's largest mortgage bank HBOS's share price fall was 34 percent, and closed down 22 percent. Britain's largest real estate lending bank Xiali fass Jie Housing Agency is under the bank HBOS, with 20 percent of the United Kingdom revealed Housing loans, more than 2000 million borrowing customers. Opening on the 17th, while Britain has other banking stocks rebounded, but first and HBOS shares fell again 8:00.
Royal Bank of Scotland and the British National Westminster bank HBOS also belong to the same group, following the stock market Tuesday fell 10 percent after the market opened on the 17th also picked up again at the end.
U.S. bank Lehman Brothers in London, the City has over 5,000 employees, most of these people suddenly find themselves unemployed Tuesday. Market analysis pointed out that the U.S. is not the end of times by the storm, the estimated number of unemployed recent financial city will be close to 8-1000, their average annual salary of about 60,000 pounds, to the recent recession significantly reduced the British economy has a direct blow to the market Worse confidence.
Britain on the 17th China Federation of Trade Unions predicted that a year after Britain's long-term unemployment will be doubled. British unemployment rate currently at 5.4 percent level, to the end of next year is expected to more than one year will reach more than 700,000 unemployed people across the country the number of unemployed will rise to two million.
Tuesday released British inflation reached 4.7 percent, with 2 percent set by the official annual inflation rate vary Tatsu, at the highest level in 16 years. Bank of England this week sent a letter to British finance minister, warned that consumer prices soared as a result of the United Kingdom, the inflation rate may rise to 5%.
The latest UK inflation up to 14.5 percent of food, fuel price increases this year, nearly 28 percent, the user growth of 18 percent of electricity charges. Economic experts here have said that Britain is facing a 16-year life of the fastest growth since the consumer price index and an economic recession significant performance.
Real estate figures released this week also showed that, in the past one quarter of the sale of the National Housing rates are the lowest level in 30 years. Times by the crisis in the United States under the influence of the past six months, the United Kingdom very tight housing loans, the British property prices over the past four months consecutive decline.
350 in the British investigation of large enterprises, there are 2 / 3 of people believe that the financial credit crisis yet to come, and be prepared to face even worse prospect of even worse. A few days ago, the British entrepreneurs also warned that Britain is entering a more serious than expected economic recession, more severe credit crunch and financial crisis has not truly emerged.
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Showing posts with label The stock market situation. Show all posts
Showing posts with label The stock market situation. Show all posts
1/09/2009
If you buy on a regular or a sell recommendation on the up coming to look at
Many novice investors friends often face such confusion in their hands stocks, often bought on or a sell on the rise. . . It seems the main staring at their own operation on the same! This is how to avoid, I have a few points below the view and operation of the proposed (simple):
To avoid a buy or not to operate on the following stocks:
1, to avoid pre-operation or too large variety of species such as the operation, and newcomers easy to commit large directional errors, the most damaging. How specific perspective, to open K-line movements, to observe the trend of the stock at what price from the start, after more than a long time. . .need ashould not be confined to a range of vision. Or too much stock, and newcomers not to memorable and greedy! (I myself have never read of such shares) the wrong direction, I am not guilty!
2, short-term or too fast, stock prices on the 5th from the average, high, average and prices in between the formation of a lot of space, do not buy a short-term, will face a short-term buy callback.
3, short-term or too fast, driven up prices rapidly on the 5th Move fast moving average, 5 and 10, between the average large open area at this time to buy, also occur on or buy a phenomenon.
4, the stock started to go downward after reaching a certain decline in the price range of the start of a consolidation, we should not think in the end stock price, and often fell relay it!
5, the stock is in decline, the average price down level by level to suppress this kind of stock, do not take it for granted that will not fall, many stocks are often the main force in the rise will come before a power vent, the rapid fall short period of time, From the last time the floating chips! So do not touch the stock!
To avoid a sale on the rise not to operate the following stocks:
1, the stock experienced a continuous long-term decline in share prices on the show from several multi-resistance, but they have all failed, and began to appear in the volume continued to enlarge the signs, so that the stock will not be easily thrown out, brewing market rebound , could erupt at any time. A single spark can start a prairie fire.
2, robust stock price steadily dependent on the 5th, 10-day average prices, volume and price with a modest, do not take it for granted that the stock does not move up at this time should be held so that the full growth of profits.
3, the stock rose in the channel, the stock surged to a certain extent, the emergence of a relatively high finishing sideways trend, many people think the stock peaked, and will be hurried out, in fact, only the technical forms of repair but often the formation of up relay!
4, the stock decline in the short term aggressive, far from the average price of repression, the middle has been formed relatively largeto, at this time although very bad shape, but to hold back, there will be a technical rebound at any time. Do not low!
5, the stock long-term decline, the recent re-emergence of the steep decline at this time need not fear, the stock rose precursor! Do not thrown out!
6, the market crash, all stocks have plummeted by irrational, this time not to rush out of stock, and it can not irrational panic out of all stocks, unless they technically remain high for the stock can be a different matter! Now the majority of the stock is facing such a situation!
Original article reprint please specify: Reprinted from
http://chinasfinancial.blogspot.com
To avoid a buy or not to operate on the following stocks:
1, to avoid pre-operation or too large variety of species such as the operation, and newcomers easy to commit large directional errors, the most damaging. How specific perspective, to open K-line movements, to observe the trend of the stock at what price from the start, after more than a long time. . .need ashould not be confined to a range of vision. Or too much stock, and newcomers not to memorable and greedy! (I myself have never read of such shares) the wrong direction, I am not guilty!
2, short-term or too fast, stock prices on the 5th from the average, high, average and prices in between the formation of a lot of space, do not buy a short-term, will face a short-term buy callback.
3, short-term or too fast, driven up prices rapidly on the 5th Move fast moving average, 5 and 10, between the average large open area at this time to buy, also occur on or buy a phenomenon.
4, the stock started to go downward after reaching a certain decline in the price range of the start of a consolidation, we should not think in the end stock price, and often fell relay it!
5, the stock is in decline, the average price down level by level to suppress this kind of stock, do not take it for granted that will not fall, many stocks are often the main force in the rise will come before a power vent, the rapid fall short period of time, From the last time the floating chips! So do not touch the stock!
To avoid a sale on the rise not to operate the following stocks:
1, the stock experienced a continuous long-term decline in share prices on the show from several multi-resistance, but they have all failed, and began to appear in the volume continued to enlarge the signs, so that the stock will not be easily thrown out, brewing market rebound , could erupt at any time. A single spark can start a prairie fire.
2, robust stock price steadily dependent on the 5th, 10-day average prices, volume and price with a modest, do not take it for granted that the stock does not move up at this time should be held so that the full growth of profits.
3, the stock rose in the channel, the stock surged to a certain extent, the emergence of a relatively high finishing sideways trend, many people think the stock peaked, and will be hurried out, in fact, only the technical forms of repair but often the formation of up relay!
4, the stock decline in the short term aggressive, far from the average price of repression, the middle has been formed relatively largeto, at this time although very bad shape, but to hold back, there will be a technical rebound at any time. Do not low!
5, the stock long-term decline, the recent re-emergence of the steep decline at this time need not fear, the stock rose precursor! Do not thrown out!
6, the market crash, all stocks have plummeted by irrational, this time not to rush out of stock, and it can not irrational panic out of all stocks, unless they technically remain high for the stock can be a different matter! Now the majority of the stock is facing such a situation!
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1/04/2009
European stock markets closed higher, the FTSE index closed up 2.44 percent
European stock markets closed higher Monday in light trading in close higher led banking stocks. Another outbreak of the conflict between Israel and Hamas to boost oil prices, strong energy shares. French national statistics agency announced Monday the end value of the data showed that French GDP in the third quarter over the previous quarter growth of 0.1 percent, representing a 0.6 percent increase over the same period last year, in line with preliminary data; the council said, GDP growth, so that the country is currently able to To avoid falling into recession.
British FTSE100 index rose 102.76 points, or 2.44 percent, at 4319.35 has been reported;
Germany's DAX index rose 75.48 points, or 1.63 percent, at 4704.86 has been reported;
France CAC40 index rose 14.51 points, or 0.47 percent, at 3130.72 reported.
In the oil and gas stocks, BP, Royal Dutch Shell and gas producer BG Group and Tullow Oil were up 3.2-3.8%. European shares closed, oil prices are up to 38 U.S. dollars a barrel earlier as a result of a weaker U.S. dollar and tension in the Middle East, oil price 40 U.S. dollars at one time or wear.
Mining stocks also strong, helped by rising metal prices. Lonmin, Vedanta Resources, Anglo American and Kazakhmys rose 5.6-10.7%.
Bank shares, Royal Bank of Scotland rose 14 percent, the bank said Sunday, is seeking to sell off its insurance business, despite press reports that it is prepared to abandon the plan.
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British FTSE100 index rose 102.76 points, or 2.44 percent, at 4319.35 has been reported;
Germany's DAX index rose 75.48 points, or 1.63 percent, at 4704.86 has been reported;
France CAC40 index rose 14.51 points, or 0.47 percent, at 3130.72 reported.
In the oil and gas stocks, BP, Royal Dutch Shell and gas producer BG Group and Tullow Oil were up 3.2-3.8%. European shares closed, oil prices are up to 38 U.S. dollars a barrel earlier as a result of a weaker U.S. dollar and tension in the Middle East, oil price 40 U.S. dollars at one time or wear.
Mining stocks also strong, helped by rising metal prices. Lonmin, Vedanta Resources, Anglo American and Kazakhmys rose 5.6-10.7%.
Bank shares, Royal Bank of Scotland rose 14 percent, the bank said Sunday, is seeking to sell off its insurance business, despite press reports that it is prepared to abandon the plan.
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12/30/2008
European shares closed down 15 banks led by stocks
European stock markets slightly lower Monday. As the market worried about a lot of banking companies may be subject to Bernard - Adolf Michael (Bernard Madoff) investment companies implicated in the fraud case, banks generally lower plate, offset by oil producers and mining companies rose positive impact.
Bank stocks were the biggest drag on the index, Ma Duofu as a result of investment fraud on the banking sector as investors worried about the impact that may have been the case for investors 50,000,000,000 U.S. dollars of losses.
Once the stock market rose in early trading, the oil and gas heavyweights strong boost at the same time, the three major U.S. auto manufacturer likely to receive government assistance is also expected to support the market. However, Ma Duofu cases as well as the Federal Reserve may cut interest rates to 16 to 0% of the stock-taking is expected to lead to a rise in early trading.
The Dow Jones Stoxx 600 Index fell 0.4 percent to 197.5 points. UK FTSE 100 index closed down 0.07 percent, to 4277.56 points. French CAC 40 index fell 0.87 percent to 3,185.66 points. German DAX 30 index fell 0.18 percent to 4,654.82 points.
In addition, the United States in November industrial output data also weighed on stocks. The data in the third decline in four months, showing that the U.S. state of the industry is still not optimistic.
Up close, the pan-European Dow Jones 600 index (ST: SXXP) fell 0.4 percent to close at 197.51 points.
Monday all the major European countries in the stock market, the British FTSE 100 index (UK: UKX) down 0.1 percent, to close at 4277.56 points. French CAC-40 (FR: 1804546) index fell 0.9 percent to close at 3185.66 points. German DAX 30 index (DX: 1876534) fell 0.2 percent to close at 4654.82 points.
European stock markets today, the bank board by a great deal of industry news.
Fortis Bank (Fortis) this week and a suspension of trading Tuesday, after a court of the company's shareholders should consult their plan to split. The bank said that with BNP Paribas (BNP Paribas) (FR: 013110) to complete the transaction will not be subject to the above-mentioned decision.
Fortis Bank and BNP Paribas, originally scheduled for this week from the beginning of the transaction.
BNP Paribas shares fell 10.1 percent.
Bank stocks were the biggest drag on the index, Ma Duofu as a result of investment fraud on the banking sector as investors worried about the impact that may have been the case for investors 50,000,000,000 U.S. dollars of losses.
Once the stock market rose in early trading, the oil and gas heavyweights strong boost at the same time, the three major U.S. auto manufacturer likely to receive government assistance is also expected to support the market. However, Ma Duofu cases as well as the Federal Reserve may cut interest rates to 16 to 0% of the stock-taking is expected to lead to a rise in early trading.
The Dow Jones Stoxx 600 Index fell 0.4 percent to 197.5 points. UK FTSE 100 index closed down 0.07 percent, to 4277.56 points. French CAC 40 index fell 0.87 percent to 3,185.66 points. German DAX 30 index fell 0.18 percent to 4,654.82 points.
In addition, the United States in November industrial output data also weighed on stocks. The data in the third decline in four months, showing that the U.S. state of the industry is still not optimistic.
Up close, the pan-European Dow Jones 600 index (ST: SXXP) fell 0.4 percent to close at 197.51 points.
Monday all the major European countries in the stock market, the British FTSE 100 index (UK: UKX) down 0.1 percent, to close at 4277.56 points. French CAC-40 (FR: 1804546) index fell 0.9 percent to close at 3185.66 points. German DAX 30 index (DX: 1876534) fell 0.2 percent to close at 4654.82 points.
European stock markets today, the bank board by a great deal of industry news.
Fortis Bank (Fortis) this week and a suspension of trading Tuesday, after a court of the company's shareholders should consult their plan to split. The bank said that with BNP Paribas (BNP Paribas) (FR: 013110) to complete the transaction will not be subject to the above-mentioned decision.
Fortis Bank and BNP Paribas, originally scheduled for this week from the beginning of the transaction.
BNP Paribas shares fell 10.1 percent.
New York, the three major stock indexes down
Kuwait to terminate the joint venture with Dow Chemical to set up the news put pressure on the market and energy stocks offset the positive impact of rising, 29, New York, the three major stock market indexes were lower.
On the New York Stock Exchange was light. Kuwait decided to cancel the establishment of Dow Chemical and petrochemical joint venture. Dow Chemical shares fell 19%. As the market worried that the decision on the Dow also plans to buy Rohm and Haas has dealt a strong blow, Rohm and Haas stock price has plummeted by 16%.
The Standard & Poor's energy sector is big business in 10 plate up only in the plate. On the New York market, international crude oil futures prices rose for a second day because of Israeli air strikes in Gaza continue to lead investors to worry that the Middle East oil supplies might be interrupted. The rise in oil prices to the consumer-related stocks pressure.
New York stock market closed, the Dow Jones industrial average price index over the previous trading day down 31.62 points to close at 8483.93 points, or 0.37 percent. Standard & Poor's 500 index fell 3.38 points to close at 869.42 points, or 0.39 percent. The Nasdaq composite index fell 19.92 points to close at 1510.32 points, or 1.30 percent.
Major European stock markets rose one after another on the same day. London stock market, "Financial Times" 100 Share Index rose 2.4 percent to close at 4319.35 points. Frankfurt DAX stock index rose 1.63 percent to close at 4704.86 points. Paris CAC40 stock index rose 0.47 percent to close at 3130.72 points.
On the New York Stock Exchange was light. Kuwait decided to cancel the establishment of Dow Chemical and petrochemical joint venture. Dow Chemical shares fell 19%. As the market worried that the decision on the Dow also plans to buy Rohm and Haas has dealt a strong blow, Rohm and Haas stock price has plummeted by 16%.
The Standard & Poor's energy sector is big business in 10 plate up only in the plate. On the New York market, international crude oil futures prices rose for a second day because of Israeli air strikes in Gaza continue to lead investors to worry that the Middle East oil supplies might be interrupted. The rise in oil prices to the consumer-related stocks pressure.
New York stock market closed, the Dow Jones industrial average price index over the previous trading day down 31.62 points to close at 8483.93 points, or 0.37 percent. Standard & Poor's 500 index fell 3.38 points to close at 869.42 points, or 0.39 percent. The Nasdaq composite index fell 19.92 points to close at 1510.32 points, or 1.30 percent.
Major European stock markets rose one after another on the same day. London stock market, "Financial Times" 100 Share Index rose 2.4 percent to close at 4319.35 points. Frankfurt DAX stock index rose 1.63 percent to close at 4704.86 points. Paris CAC40 stock index rose 0.47 percent to close at 3130.72 points.
12/29/2008
U.S. stock markets rose sharply overnight
U.S. stocks rose sharply Thursday, as a result of the Fed's statement was interpreted as the current rate hike cycle nearing an end, the Dow rose 217 points.
Up close, the Dow Jones Industrial Average rose 217.24 points to 11190.80 points, or 1.98 percent. Today, the Dow was up a point since April 2003 has been high, the Dow 30 kinds of constituent stocks rose across the board.
The Nasdaq composite index rose 62.54 points to 2174.38 points, or 2.96 percent; Standard & Poor's 500 index rose 26.87 points to 1272.87 points, or 2.16 percent.
New York Stock Exchange, shares rose more than 5 to 27 leading stocks fell on the Nasdaq stock market rose more than 6 to 24 leading stocks fell on.
New York Stock Exchange volume was 2.6 billion shares 3100, Nasdaq volume was 2.1 billion shares 5800.
In the stock market all day to keep up, but the Federal Reserve will raise overnight interest rates to 5.25 percent after the major indexes rising to a new high, this is the 17th consecutive time the Federal Reserve raising interest rates.
Investors the Federal Reserve to change the wording of the statement made a positive response. Federal Open Market Committee to delete the words "may be" more of a steady demand for policy measures to control the statement, and will be based on the economic prospects and decide whether or not to take "additional measures to control" its place.
EKN Financial Services stock market analyst Barry - Hyman (Barry Hyman), "the Fed is still worried about inflation, but seems to hint that the current rate hike cycle is coming to an end."
He said that this does not mean that the Fed will not be meeting again in August rate hike by 25 basis points, but the statement clearly shows that rate hike cycle is about to end.
Stephens Capital Management's fixed-income analyst Bill - Taidefute (Bill Tedford) said that the statement is a strong hint that the Fed will stop raising interest rates.
He pointed out that the statement of impartiality and integrity of direct economic growth is easing, but the previous statement that the economy may be easing. He said, "I do not think the Fed will be easing in the economic circumstances interest rate increase."
Mike Holland of the fund balance - Holland (Mike Holland), said the wording of a statement to alleviate the fears of investors, "Prior to the market worried about the Federal Reserve will make a stupid statement, but the statement is a responsible, not People would mistake for the U.S. Federal Reserve economic mess. "
At the end of the quarter buying also supported the market, some portfolio managers expect to increase buying by portfolio value. Friday is the June, as well as in the second quarter of the last trading day.
Today's report showed that the two economies in the U.S. economy in good condition.
First-quarter gross domestic product growth was revised to the final 5.6 percent, a three-year high. MarketWatch survey of economists on average expected growth of 5.5 percent.
At present, economists expected in the next few quarters, U.S. economic growth will slow to around 3%, non-inflationary growth rate of close to the long-term economic development under pressure from the ceiling.
In the first quarter of the core consumer price index to grow by 2%, lower than the fourth quarter of last year's 2.4 percent.
Last week, for the first time the number of applications for unemployment benefits increased 4,000 to 313,000, an average of four weeks to apply for unemployment benefits fell by 6,000 to 305,500 people, the highest since Feb. 25 has been low. MarketWatch survey of economists expected growth to an average of 311,000 people.
Other market
Since the Fed's statement did not show his hard-line attitude of the U.S. dollar hit a new low for the week.
The U.S. dollar against the Japanese yen exchange rate fell 1.3 percent, to 1 U.S. dollar 114.96 yen; the euro against the U.S. dollar exchange rate rose 0.8 percent, to 1 euro dollar exchange 1.26.44.
The bond market closed higher, the fixed income market on the current rate hike cycle is expected to terminate the Fed's statement made a positive response.
The benchmark 10-year bond rose 10/32 point, to 99 12/32, to yield 5.205 percent, down from Wednesday's 5.247 percent.
Gold futures closed higher. Gold futures for August delivery rose 7.90 U.S. dollars to 588.90 U.S. dollars an ounce, the contract was a breakthrough after 600 U.S. dollars.
Crude futures also rose in recent months, the contract rose 1.33 U.S. dollars to 73.52 U.S. dollars a barrel, or 1.8 percent. In the past seven trading days, the price of crude oil were up 6%.
Focus stocks
McDonald's (MCD) rose 5.0 percent, closing 33.56 U.S. dollars. Merrill Lynch raised the rating of fast food distributors, the brokerage expected McDonald's sales and profit margins, particularly in Europe, will be improved.
Ford Motor (F) was down 0.31 percent, closing 6.40 U.S. dollars. CEO Bill Gates - Ford (Bill Ford) in "The Wall Street Journal", said the company than the current situation a few months before the expected worse, as a result of the recent rise of oil prices, sports car sales decline in the rate Faster than expected.
Walt Disney (DIS) rose 1.7 percent, closing 29.88 U.S. dollars. The company said yesterday that the company has named John Pepper Jr. For the new chairman and chief executive officer.
Tenet Healthcare Corp. (THC) fell 1.8 percent, closing 7.10 U.S. dollars. The health care provider agreed to pay 700,000,000 25,000,000 U.S. dollars to the U.S. Department of Justice and its pre-2003 part of the medical insurance payment receipts to reach a settlement. The reconciliation of the financial arrangements relating to the medical and health insurance code.
The company also revealed a plan aimed at improving profit margins. The company will sell 11 hospitals and expand its capital investment projects.
Cardiovascular stent maker Boston Scientific (BSX) fell 1 cents to close at 16.94 U.S. dollars. Citigroup will be the medical equipment manufacturer rating from "hold" tune down to "sell." The broker that the company's acquisition of Guidant to make a wrong decision the financial situation in trouble, and the growth of its more limited scope.
Up close, the Dow Jones Industrial Average rose 217.24 points to 11190.80 points, or 1.98 percent. Today, the Dow was up a point since April 2003 has been high, the Dow 30 kinds of constituent stocks rose across the board.
The Nasdaq composite index rose 62.54 points to 2174.38 points, or 2.96 percent; Standard & Poor's 500 index rose 26.87 points to 1272.87 points, or 2.16 percent.
New York Stock Exchange, shares rose more than 5 to 27 leading stocks fell on the Nasdaq stock market rose more than 6 to 24 leading stocks fell on.
New York Stock Exchange volume was 2.6 billion shares 3100, Nasdaq volume was 2.1 billion shares 5800.
In the stock market all day to keep up, but the Federal Reserve will raise overnight interest rates to 5.25 percent after the major indexes rising to a new high, this is the 17th consecutive time the Federal Reserve raising interest rates.
Investors the Federal Reserve to change the wording of the statement made a positive response. Federal Open Market Committee to delete the words "may be" more of a steady demand for policy measures to control the statement, and will be based on the economic prospects and decide whether or not to take "additional measures to control" its place.
EKN Financial Services stock market analyst Barry - Hyman (Barry Hyman), "the Fed is still worried about inflation, but seems to hint that the current rate hike cycle is coming to an end."
He said that this does not mean that the Fed will not be meeting again in August rate hike by 25 basis points, but the statement clearly shows that rate hike cycle is about to end.
Stephens Capital Management's fixed-income analyst Bill - Taidefute (Bill Tedford) said that the statement is a strong hint that the Fed will stop raising interest rates.
He pointed out that the statement of impartiality and integrity of direct economic growth is easing, but the previous statement that the economy may be easing. He said, "I do not think the Fed will be easing in the economic circumstances interest rate increase."
Mike Holland of the fund balance - Holland (Mike Holland), said the wording of a statement to alleviate the fears of investors, "Prior to the market worried about the Federal Reserve will make a stupid statement, but the statement is a responsible, not People would mistake for the U.S. Federal Reserve economic mess. "
At the end of the quarter buying also supported the market, some portfolio managers expect to increase buying by portfolio value. Friday is the June, as well as in the second quarter of the last trading day.
Today's report showed that the two economies in the U.S. economy in good condition.
First-quarter gross domestic product growth was revised to the final 5.6 percent, a three-year high. MarketWatch survey of economists on average expected growth of 5.5 percent.
At present, economists expected in the next few quarters, U.S. economic growth will slow to around 3%, non-inflationary growth rate of close to the long-term economic development under pressure from the ceiling.
In the first quarter of the core consumer price index to grow by 2%, lower than the fourth quarter of last year's 2.4 percent.
Last week, for the first time the number of applications for unemployment benefits increased 4,000 to 313,000, an average of four weeks to apply for unemployment benefits fell by 6,000 to 305,500 people, the highest since Feb. 25 has been low. MarketWatch survey of economists expected growth to an average of 311,000 people.
Other market
Since the Fed's statement did not show his hard-line attitude of the U.S. dollar hit a new low for the week.
The U.S. dollar against the Japanese yen exchange rate fell 1.3 percent, to 1 U.S. dollar 114.96 yen; the euro against the U.S. dollar exchange rate rose 0.8 percent, to 1 euro dollar exchange 1.26.44.
The bond market closed higher, the fixed income market on the current rate hike cycle is expected to terminate the Fed's statement made a positive response.
The benchmark 10-year bond rose 10/32 point, to 99 12/32, to yield 5.205 percent, down from Wednesday's 5.247 percent.
Gold futures closed higher. Gold futures for August delivery rose 7.90 U.S. dollars to 588.90 U.S. dollars an ounce, the contract was a breakthrough after 600 U.S. dollars.
Crude futures also rose in recent months, the contract rose 1.33 U.S. dollars to 73.52 U.S. dollars a barrel, or 1.8 percent. In the past seven trading days, the price of crude oil were up 6%.
Focus stocks
McDonald's (MCD) rose 5.0 percent, closing 33.56 U.S. dollars. Merrill Lynch raised the rating of fast food distributors, the brokerage expected McDonald's sales and profit margins, particularly in Europe, will be improved.
Ford Motor (F) was down 0.31 percent, closing 6.40 U.S. dollars. CEO Bill Gates - Ford (Bill Ford) in "The Wall Street Journal", said the company than the current situation a few months before the expected worse, as a result of the recent rise of oil prices, sports car sales decline in the rate Faster than expected.
Walt Disney (DIS) rose 1.7 percent, closing 29.88 U.S. dollars. The company said yesterday that the company has named John Pepper Jr. For the new chairman and chief executive officer.
Tenet Healthcare Corp. (THC) fell 1.8 percent, closing 7.10 U.S. dollars. The health care provider agreed to pay 700,000,000 25,000,000 U.S. dollars to the U.S. Department of Justice and its pre-2003 part of the medical insurance payment receipts to reach a settlement. The reconciliation of the financial arrangements relating to the medical and health insurance code.
The company also revealed a plan aimed at improving profit margins. The company will sell 11 hospitals and expand its capital investment projects.
Cardiovascular stent maker Boston Scientific (BSX) fell 1 cents to close at 16.94 U.S. dollars. Citigroup will be the medical equipment manufacturer rating from "hold" tune down to "sell." The broker that the company's acquisition of Guidant to make a wrong decision the financial situation in trouble, and the growth of its more limited scope.
November U.S. stock fund net inflow of 14,900,000,000 U.S. dollars
November U.S. stock mutual funds recorded a net inflow of 14,900,000,000 U.S. dollars, show that since March this year, funds from flowing into the stock market's trend is continuing. However, in October compared to the 25.3 billion net inflow of 1 million dollars the amount of inflow in November The amount of the stock market has been slow. At the same time, the Organization of the United States Investment Company (ICI) data also show that the November bond funds recorded a net outflow of 2.5 billion, money market funds also recorded a net outflow of 7,700,000,000 U.S. dollars. In November, is now in the hands of fund shares than the weighting of 4.6 percent, and October's 4.5 percent or less the same, but less than 5 percent a year ago.
12/27/2008
U.S. Stocks Rise, S&P 500 Posts Back-to-Back Gains; GM Rallies
Dec. 26 (Bloomberg) -- U.S. stocks rose, giving the Standard & Poor’s 500 Index its first back-to-back gains in three weeks, after GMAC LLC’s conversion to a bank spurred a rally in General Motors Corp. and oil’s increase sent Exxon Mobil Corp. higher.
GM jumped 13 percent and Ford Motor Co. climbed 8.5 percent. The Federal Reserve’s approval of GMAC’s shift eased the threat that the automobile lender, which provides financing to GM dealers, will default. Exxon advanced after oil surged 6.7 percent to $37.71 a barrel. Macy’s Inc. lost 2.5 percent on data from SpendingPulse that suggested holiday-shopping sales dropped the most in four decades.
“The taxpayers are bailing out another financial company,” Ralph Shive, the South Bend, Indiana-based manager of the $800 million Wasatch 1st Source Income Equity Fund, said of GMAC’s conversion. “In the long run it may come back to haunt us, but in the short run it’s being viewed as a positive.”
The S&P 500 added 0.5 percent to 872.80. The Dow Jones Industrial Average climbed 47.07 points, or 0.6 percent, to 8,515.55. The Russell 2000 Index of small companies rose 1.3 percent to 476.77.
Fewer than 4.3 billion shares traded in the U.S., or 58 percent less than the three-month average. Almost 3.64 billion shares changed hands on Dec. 24, the least since Dec. 26, 2003, as trading on the New York Stock Exchange and Nasdaq Stock Market ended three hours early before the Christmas holiday.
The MSCI Asia Pacific Index rose 0.3 percent today on speculation takeovers and higher memory-chip prices will help the technology industry overcome the economic slowdown. Markets were closed in western Europe, Canada, Australia, Hong Kong, New Zealand and the Philippines, while yesterday and today were Japan’s two slowest full days of trading in the past five years.
Economic Reports
The S&P 500 fell 1.7 percent during the holiday-shortened week, extending its 2008 slide to 41 percent as home prices plunged, the government confirmed the economy contracted by the most since 2001 last quarter and the outlook for corporate earnings deteriorated.
GM advanced 13 percent to $3.66 for the biggest gain in the Dow average and the third-largest in the S&P 500. The Fed used emergency powers to grant GMAC’s bank conversion, citing turmoil in financial markets and the potential impact on GM as the biggest U.S. automaker taps emergency federal loans to stay in business.
Ford Motor Co. added 8.5 percent to $2.29.
GMAC’s shift to a bank may help prevent a default that threatened to dry up credit for GM dealers who used the company to finance about three-quarters of their inventory. GMAC also handled loans for about 35 percent of GM’s 2007 retail buyers.
Oil Production Cuts
Exxon, the biggest U.S. energy company, advanced 1.9 percent to $77.19 and contributed most to the S&P 500’s gain. Crude oil futures rose the most in two weeks after the United Arab Emirates said it would reduce output to comply with OPEC’s supply curbs.
Macy’s, the second-largest U.S. department-store company, fell 2.5 percent to $8.60. Nordstrom Inc. lost 1.2 percent to $11.91.
Discounts of 70 percent or more by Macy’s, AnnTaylor Stores Inc. and other retailers failed to prevent a spending drop of as much as 4 percent during the final two months of the year, according to data from SpendingPulse. Including fuel, sales tumbled as much as 8 percent.
The SpendingPulse data follow forecasts of falling sales from industry groups. Sales at stores open at least a year may drop as much as 2 percent in November and December, the International Council of Shopping Centers said on Dec. 23, the worst drop since at least 1969.
‘Best Ever’
Amazon.com Inc. rose 0.7 percent to $51.78. The world’s largest Internet retailer said this was its “best ever” holiday season, with a record number of orders on Dec. 15. Amazon didn’t provide specific profit or revenue data.
The U.S. stock market historically performs better-than- average during the Christmas week, according to Bespoke Investment Group LLC. The Dow average has risen an average 0.7 percent during the holiday season, compared with a 0.1 percent advance for all 4-day periods, data since 1900 from the Harrison, New York-based research firm show.
Jones Apparel Group Inc. surged 44 percent, the most since it began trading in 1991, to $5.62. The maker of Jones New York clothing and Nine West shoes reduced its credit lines and got more flexible lending terms from bankers.
GM jumped 13 percent and Ford Motor Co. climbed 8.5 percent. The Federal Reserve’s approval of GMAC’s shift eased the threat that the automobile lender, which provides financing to GM dealers, will default. Exxon advanced after oil surged 6.7 percent to $37.71 a barrel. Macy’s Inc. lost 2.5 percent on data from SpendingPulse that suggested holiday-shopping sales dropped the most in four decades.
“The taxpayers are bailing out another financial company,” Ralph Shive, the South Bend, Indiana-based manager of the $800 million Wasatch 1st Source Income Equity Fund, said of GMAC’s conversion. “In the long run it may come back to haunt us, but in the short run it’s being viewed as a positive.”
The S&P 500 added 0.5 percent to 872.80. The Dow Jones Industrial Average climbed 47.07 points, or 0.6 percent, to 8,515.55. The Russell 2000 Index of small companies rose 1.3 percent to 476.77.
Fewer than 4.3 billion shares traded in the U.S., or 58 percent less than the three-month average. Almost 3.64 billion shares changed hands on Dec. 24, the least since Dec. 26, 2003, as trading on the New York Stock Exchange and Nasdaq Stock Market ended three hours early before the Christmas holiday.
The MSCI Asia Pacific Index rose 0.3 percent today on speculation takeovers and higher memory-chip prices will help the technology industry overcome the economic slowdown. Markets were closed in western Europe, Canada, Australia, Hong Kong, New Zealand and the Philippines, while yesterday and today were Japan’s two slowest full days of trading in the past five years.
Economic Reports
The S&P 500 fell 1.7 percent during the holiday-shortened week, extending its 2008 slide to 41 percent as home prices plunged, the government confirmed the economy contracted by the most since 2001 last quarter and the outlook for corporate earnings deteriorated.
GM advanced 13 percent to $3.66 for the biggest gain in the Dow average and the third-largest in the S&P 500. The Fed used emergency powers to grant GMAC’s bank conversion, citing turmoil in financial markets and the potential impact on GM as the biggest U.S. automaker taps emergency federal loans to stay in business.
Ford Motor Co. added 8.5 percent to $2.29.
GMAC’s shift to a bank may help prevent a default that threatened to dry up credit for GM dealers who used the company to finance about three-quarters of their inventory. GMAC also handled loans for about 35 percent of GM’s 2007 retail buyers.
Oil Production Cuts
Exxon, the biggest U.S. energy company, advanced 1.9 percent to $77.19 and contributed most to the S&P 500’s gain. Crude oil futures rose the most in two weeks after the United Arab Emirates said it would reduce output to comply with OPEC’s supply curbs.
Macy’s, the second-largest U.S. department-store company, fell 2.5 percent to $8.60. Nordstrom Inc. lost 1.2 percent to $11.91.
Discounts of 70 percent or more by Macy’s, AnnTaylor Stores Inc. and other retailers failed to prevent a spending drop of as much as 4 percent during the final two months of the year, according to data from SpendingPulse. Including fuel, sales tumbled as much as 8 percent.
The SpendingPulse data follow forecasts of falling sales from industry groups. Sales at stores open at least a year may drop as much as 2 percent in November and December, the International Council of Shopping Centers said on Dec. 23, the worst drop since at least 1969.
‘Best Ever’
Amazon.com Inc. rose 0.7 percent to $51.78. The world’s largest Internet retailer said this was its “best ever” holiday season, with a record number of orders on Dec. 15. Amazon didn’t provide specific profit or revenue data.
The U.S. stock market historically performs better-than- average during the Christmas week, according to Bespoke Investment Group LLC. The Dow average has risen an average 0.7 percent during the holiday season, compared with a 0.1 percent advance for all 4-day periods, data since 1900 from the Harrison, New York-based research firm show.
Jones Apparel Group Inc. surged 44 percent, the most since it began trading in 1991, to $5.62. The maker of Jones New York clothing and Nine West shoes reduced its credit lines and got more flexible lending terms from bankers.
12/25/2008
Key Tokyo foreign exchange market〕 dollar steady against the yen on every holiday quiet market
* Trading was quiet as many investors in the market at the end of degrees holidays * Concerned about the pounds to see whether the euro fell against the parity level Reuters, Tokyo, Dec. 25 - --- Dollar steady against the yen Thursday, due to holidays quiet trading floor. Earlier part of the U.S. recovery dimmed yesterday after the publication of data recorded a decline.
Key U.S. stock〕 The New York Times in November year-on-year decline in advertising revenue 20%
Reuters, New York, Dec. 24 - --- The New York Times (NYT.N: Quote) said Wednesday that its November advertising revenue fell 20 percent, the newspaper shows that the United States in the financial crisis, the increasingly weak advertising revenues. The New York Times publisher - The New York Times Media Group, said in a statement, in November advertising revenue declined 21.2 percent over the previous year, due to real estate ads and the number of job ads dropped. In addition, the audio and video entertainment, automotive, books, financial services advertising was also weak and powerful. The company's New England Division, as well as on behalf of the company's other newspapers, revenue also declined, the company overall revenue fell 13.9 percent. Newspaper publishers large majority of the regular monthly business publication, The Wall Street need immediate attention because of its subtle changes in the wind and waves could rise to slightly press the shock value of the shares. The New York Times, November's sales data more significant, as a result of the company in 2009 to carry out the obligation to repay their loans and reduce borrowing costs and savings are, in order to ward off recession, the impact of the newspaper business.
Global stock market information
U.S. Europe
Dow 8,419 -100.28
Nasdaq 1,522 -10.81
S&P 500 863 -8.47
Global Dow 1,474 -4.68
Oil $39.04 0.08
Gold $838.10 -9.10
Frankfurt 4,629 - 9.64
Global DowEU 994 -4.32
Europe
London 4,25 66.82
Paris 3,128 -22.95
Paris 3,128 -22.95
Asia
Tokyo 8,517 -206.68
Hong Kong 14,184 - 36.65
Sydney 3,515 46.80
Global Dow 1,474 -4.40
In Tokyo, the Nikkei 225 Average dropped 2.6% to 8,501.47 in the afternoon, while the broader Topix index fell 2.7% to 825.42.Hong Kong's Hang Seng Index ended the shortened trading session down 0.3% at 14,184.14, China's Shanghai Composite Index dropped 1.2% to 1,874.49.Singapore's Straits Times Index rose 0.9% to 1,740.80.Hong Kong and Singaporean markets were open only for a half-day session Wednesday. Most of Asia will be closed Thursday for Christmas, with Tokyo and Shanghai markets being exceptions.South Korea's Kospi lost 1.9% to 1,122.30.India's Sensitive Index, or Sensex, dropped 0.7% to 9,624.22 in morning trading. Shares of Satyam Computer Services (SAY:satyam computer services ltd adrNews , chart , profile , moreLast: 7.35-0.91-11.02%4:01pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:SAY 7.35, -0.91, -11.0%) slumped 14.4% on reports the World Bank has banned the software developer from its corporate procurement program.Australia's S&P/ASX 200 index rose 1.4% to 3,582.20, and New Zealand's NZX 50 index added 0.2% to 2,668.06.Taiwan's Taiex slipped 0.1% to 4,400.98, while Malaysia's KLSE Composite gave up 0.4% to trade at 867.95.Regional detailToyota (TM:toyota motor corp sp adr rep2comNews , chart , profile , moreLast: 60.37-0.52-0.85%4:01pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:TM 60.37, -0.52, -0.8%) (JP:7203: news , chart , profile ) fell 3.8% in Tokyo after the company said Monday it expects a group operating loss of 150 billion yen ($1.7 billion) for the fiscal year ending March 31, compared to a 2.27 trillion yen profit a year earlier.The company also cut its net income projection to 50 billion yen, down 91% from its earlier estimate, in addition to lowering its unit-sales target to 7.54 million vehicles from 8.24 million units. See full story on Toyota outlook.Separately, the company Wednesday said its domestic production dropped for a fourth straight month in November, by 27.2% from the year earlier period to 288,138 vehicles.Shares of Bridgestone (BRDCY:bridgestone corp adrNews , chart , profile , moreLast: 26.15-0.50-1.88%3:12pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:BRDCY 26.15, -0.50, -1.9%) (JP:5108: news , chart , profile ) tumbled 4% after the tire maker cut its net income forecast for 2008 to 12 billion yen from 66 billion yen on dropping sales, a strong yen and a write-down of some U.S. assets.In Seoul, Hyundai Motor Co. (HYMLF:HYMLFNews , chart , profile , moreLast: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:HYMLF, , ) sank 4.4%, and Kia Motors Corp. (KIMTF:KIMTFNews , chart , profile , moreLast: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:KIMTF, , ) skidded 4.2% -- on top of their double-digit percentage declines in the previous session -- after they also cut their sales forecast earlier this week.National Australia Bank (AU:NAB: news , chart , profile ) (NABZY:National Australia Bank LimitedNews , chart , profile , moreLast: 13.24-0.01-0.08%3:59pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:NABZY 13.24, -0.01, -0.1%) shares gained 2.6% after the banking major said discussions to purchase Wizard's brand name, distribution network and prime mortgages had ended with their offer rejected.Shares of Commonwealth Bank of Australia (AU:CBA: news , chart , profile ) (CBAUF:commonwealth bank of austral shsNews , chart , profile , moreLast: 18.01+0.01+0.06%12:27pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:CBAUF 18.01, +0.01, +0.1%) overcame early losses to 0.4% in afternoon trading, after the bank said it will acquire up to A$4 billion of home loans originated by Wizard.In Hong Kong, market heavyweight China Mobile (HK:941: news , chart , profile ) (CHL:china mobile limited sponsored adrNews , chart , profile , moreLast: 48.19-1.51-3.04%4:00pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:CHL 48.19, -1.51, -3.0%) gave up 1.3% and Industrial & Commercial Bank of China (HK:1398: news , chart , profile ) lost 1.2%.Shares of HSBC Holdings (HK:5: news , chart , profile ) (HBC:HSBC Hldgs PlcNews , chart , profile , moreLast: 45.60-0.70-1.51%4:03pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:HBC 45.60, -0.70, -1.5%) finished up 0.3%, recovering from early losses and after dropping in the previous four sessions.February crude-oil futures rose 12 cents to $39.10 a barrel in electronic trading, after falling 93 cents to $38.98 a barrel on the New York Mercantile Exchange.In Asian currency trading, the U.S. dollar changed hands for 90.42 yen, compared with 90.57 yen Tuesday.Overnight on Wall Street, the Dow Jones Industrial Average ($INDU:Dow Jones Industrial AverageNews , chart , profile , moreLast: 8,419.49-100.28-1.18%4:04pm 12/24/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:$INDU 8,419.49, -100.28, -1.2%) fell 1.2% to 8,419.49, and the S&P 500 Index ($SPX:S&P 500 IndexNews , chart , profile , moreLast: 863.16-8.47-0.97%5:00pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:$SPX 863.16, -8.47, -1.0%) gave up 1% to 863.16, while the Nasdaq Composite ($COMPX:Nasdaq Composite IndexNews , chart , profile , moreLast: 1,521.54-10.81-0.71%5:16pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:$COMPX 1,521.54, -10.81, -0.7%) shed 0.7% to 1,521.54
Dow 8,419 -100.28
Nasdaq 1,522 -10.81
S&P 500 863 -8.47
Global Dow 1,474 -4.68
Oil $39.04 0.08
Gold $838.10 -9.10
Frankfurt 4,629 - 9.64
Global DowEU 994 -4.32
Europe
London 4,25 66.82
Paris 3,128 -22.95
Paris 3,128 -22.95
Asia
Tokyo 8,517 -206.68
Hong Kong 14,184 - 36.65
Sydney 3,515 46.80
Global Dow 1,474 -4.40
In Tokyo, the Nikkei 225 Average dropped 2.6% to 8,501.47 in the afternoon, while the broader Topix index fell 2.7% to 825.42.Hong Kong's Hang Seng Index ended the shortened trading session down 0.3% at 14,184.14, China's Shanghai Composite Index dropped 1.2% to 1,874.49.Singapore's Straits Times Index rose 0.9% to 1,740.80.Hong Kong and Singaporean markets were open only for a half-day session Wednesday. Most of Asia will be closed Thursday for Christmas, with Tokyo and Shanghai markets being exceptions.South Korea's Kospi lost 1.9% to 1,122.30.India's Sensitive Index, or Sensex, dropped 0.7% to 9,624.22 in morning trading. Shares of Satyam Computer Services (SAY:satyam computer services ltd adrNews , chart , profile , moreLast: 7.35-0.91-11.02%4:01pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:SAY 7.35, -0.91, -11.0%) slumped 14.4% on reports the World Bank has banned the software developer from its corporate procurement program.Australia's S&P/ASX 200 index rose 1.4% to 3,582.20, and New Zealand's NZX 50 index added 0.2% to 2,668.06.Taiwan's Taiex slipped 0.1% to 4,400.98, while Malaysia's KLSE Composite gave up 0.4% to trade at 867.95.Regional detailToyota (TM:toyota motor corp sp adr rep2comNews , chart , profile , moreLast: 60.37-0.52-0.85%4:01pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:TM 60.37, -0.52, -0.8%) (JP:7203: news , chart , profile ) fell 3.8% in Tokyo after the company said Monday it expects a group operating loss of 150 billion yen ($1.7 billion) for the fiscal year ending March 31, compared to a 2.27 trillion yen profit a year earlier.The company also cut its net income projection to 50 billion yen, down 91% from its earlier estimate, in addition to lowering its unit-sales target to 7.54 million vehicles from 8.24 million units. See full story on Toyota outlook.Separately, the company Wednesday said its domestic production dropped for a fourth straight month in November, by 27.2% from the year earlier period to 288,138 vehicles.Shares of Bridgestone (BRDCY:bridgestone corp adrNews , chart , profile , moreLast: 26.15-0.50-1.88%3:12pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:BRDCY 26.15, -0.50, -1.9%) (JP:5108: news , chart , profile ) tumbled 4% after the tire maker cut its net income forecast for 2008 to 12 billion yen from 66 billion yen on dropping sales, a strong yen and a write-down of some U.S. assets.In Seoul, Hyundai Motor Co. (HYMLF:HYMLFNews , chart , profile , moreLast: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:HYMLF, , ) sank 4.4%, and Kia Motors Corp. (KIMTF:KIMTFNews , chart , profile , moreLast: Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:KIMTF, , ) skidded 4.2% -- on top of their double-digit percentage declines in the previous session -- after they also cut their sales forecast earlier this week.National Australia Bank (AU:NAB: news , chart , profile ) (NABZY:National Australia Bank LimitedNews , chart , profile , moreLast: 13.24-0.01-0.08%3:59pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:NABZY 13.24, -0.01, -0.1%) shares gained 2.6% after the banking major said discussions to purchase Wizard's brand name, distribution network and prime mortgages had ended with their offer rejected.Shares of Commonwealth Bank of Australia (AU:CBA: news , chart , profile ) (CBAUF:commonwealth bank of austral shsNews , chart , profile , moreLast: 18.01+0.01+0.06%12:27pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:CBAUF 18.01, +0.01, +0.1%) overcame early losses to 0.4% in afternoon trading, after the bank said it will acquire up to A$4 billion of home loans originated by Wizard.In Hong Kong, market heavyweight China Mobile (HK:941: news , chart , profile ) (CHL:china mobile limited sponsored adrNews , chart , profile , moreLast: 48.19-1.51-3.04%4:00pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:CHL 48.19, -1.51, -3.0%) gave up 1.3% and Industrial & Commercial Bank of China (HK:1398: news , chart , profile ) lost 1.2%.Shares of HSBC Holdings (HK:5: news , chart , profile ) (HBC:HSBC Hldgs PlcNews , chart , profile , moreLast: 45.60-0.70-1.51%4:03pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:HBC 45.60, -0.70, -1.5%) finished up 0.3%, recovering from early losses and after dropping in the previous four sessions.February crude-oil futures rose 12 cents to $39.10 a barrel in electronic trading, after falling 93 cents to $38.98 a barrel on the New York Mercantile Exchange.In Asian currency trading, the U.S. dollar changed hands for 90.42 yen, compared with 90.57 yen Tuesday.Overnight on Wall Street, the Dow Jones Industrial Average ($INDU:Dow Jones Industrial AverageNews , chart , profile , moreLast: 8,419.49-100.28-1.18%4:04pm 12/24/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:$INDU 8,419.49, -100.28, -1.2%) fell 1.2% to 8,419.49, and the S&P 500 Index ($SPX:S&P 500 IndexNews , chart , profile , moreLast: 863.16-8.47-0.97%5:00pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:$SPX 863.16, -8.47, -1.0%) gave up 1% to 863.16, while the Nasdaq Composite ($COMPX:Nasdaq Composite IndexNews , chart , profile , moreLast: 1,521.54-10.81-0.71%5:16pm 12/23/2008Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss FinancialsSponsored by:$COMPX 1,521.54, -10.81, -0.7%) shed 0.7% to 1,521.54
German Stock Exchanges
Germany has a total of eight stock exchanges. Frankfurt stock Exchange is one of them. It is one of the biggest and most efficient exchange places in the world. The Deutsche Bse owns this stock exchanges. Around 43% of the 300 market participants in Frankfurt are from abroad. The trading indices in Frankfurt are DAX, DAXplus, CDAX, LDAx, MDAX, SDAX, TecDAX and VDAX.The Stuttgart Stock Exchange is Germany's second largest stock exchange. Many important financial companies such as Allianz Life Insurance, LBBW Bank or Wustenrot have their headquarters in Stuttgart. Hamburg Stock Exchange is the oldest stock exchange of Germany that was founded in 1558. The Hamburg and Hanover Stock Exchanges merges merged together to form a joint organisation called the BOAG Borsen AG.Berliner Borse (Berlin Stock Exchange) merged with Borse Bremen to form Borse Berlin-Bremen. Dseldorf Bse and Hamburg and Hannover Stock Exchanges are other two important stock exchanges of the country.
Leveraged loan prices hit European lows
Published: December 22 2008 16:31 Last updated: December 22 2008 16:31European leveraged loan prices have fallen to record lows as confidence in the market deteriorates further because of the bleak economic outlook.The average bid price of European leveraged loans hit 60.70 cents last week, well below par value of 100, according to Standard & Poor’s LCD. Bankers say these prices are the lowest since the market first took off in the early 1990s.The fall – from 62.31 cents the previous week – is the biggest weekly decline since the end of October. The leveraged loans market has plunged since the middle of September when Lehman Brothers collapsed.Before Lehman’s demise, the average bid price was just below 90 cents. Immediately after the rescue of Bear Stearns in March, prices rose close to 95 cents at one point as confidence briefly re-turned to the market.In the US, the average bid price of leveraged loans in the secondary markets rose to 65.80 cents last week, up from 64.83 cents. This is the first time prices have risen in five weeks – though they are still around record lows.Bankers say the market is thin with many investors having closed their books before year-end, which may have pushed prices lower.One banker said: “No one is really buying at these levels. The banks are still in the middle of deleveraging and traditional funds, such as pension funds, are sitting on the sidelines and have done so since Lehman collapsed.With the economy expected to continue deteriorating, many more companies are likely to default on loans and bonds. S&P forecasts that more than 20 per cent of all European speculative-grade companies could default by the end of 2010 because of the recession.The agency estimates that at least 60 European companies will default within the next 12 months, affecting up to €25bn ($35bn) worth of debt, followed by a similar amount affected again in 2010, making it the worst period on record for Europe.
Today, the exchange rate
APStocks slip as Toyota cuts profit outlookMonday December 22, 12:33 pm ETStocks dip in choppy, cautious trading as Toyota, Walgreen disappoint
NEW YORK (AP) -- Wall Street began a holiday-shortened week cautiously Monday, slipping as investors reacted to a bleak outlook from Toyota Motor Corp. and disappointing earnings from drugstore operator Walgreen Co.
ADVERTISEMENTThe two companies -- both viewed as better-positioned than many of their peers -- provided more evidence that even stronger companies are struggling with dropping consumer demand.Toyota, meanwhile, slashed its earnings forecast for a second time, warning that it now expects to report an operating loss for the fiscal year through March. It would be the Japanese automaker's first such loss since it began reporting results in 1941, and underscores the challenges facing car companies. Toyota's American rivals, General Motors Corp. and Chrysler LLC, received a $17.4 billion lifeline from the federal government on Friday to stave off a major bankruptcy.
The gloomy corporate news Monday highlighted how weak the consumer is, said Kim Caughey, equity research analyst at Fort Pitt Capital Group. That's a troubling prospect, she said, because it appears the U.S. economy cannot rely on consumer spending to pull it out of its downturn.
On Tuesday, the Commerce Department reports on last month's new home sales, while the National Assocation of Realtors reports on existing home sales. Economists forecast that both pieces of data will show declines.
In midday trading, the Dow Jones industrial average fell 64.04, or 0.75 percent, to 8,515.07, after briefly moving into positive territory.
Broader stock indicators also dipped. The Standard & Poor's 500 index fell 14.25, or 1.60 percent, to 873.63, and the Nasdaq composite index fell 30.99, or 1.98 percent, to 1,533.33.
The Russell 2000 index of smaller companies fell 13.04, or 2.68 percent, to 473.22.
Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where volume came to a very light 383.3 million shares.
Because trading volumes were very low, and likely to stay that way throughout the week, the market's movements may not be indicative of its long-term direction.
"A truncated week is going to make it tough to generate any firm takeaways from trading," said Craig Peckham, equity trading strategist at Jefferies & Co. "I would expect to see sleepy volumes and a lot of people protecting positions going into year end."
Tax-loss selling -- when investors sell securities at a loss to offset a capital gains tax liability -- might also contribute to the market's weakness until the year's end, Fort Pitt's Caughey noted.
Toyota's U.S.-traded shares fell $3.36, or 5.2 percent, to $61.02.
Walgreen shares fell $1.40, or 5.4 percent, to $24.68.
Wall Street has shown some signs of relative stability in the last few weeks. Since reaching multiyear lows on Nov. 20, the Dow is up about 13 percent and the S&P 500 is up about 18 percent.
Besides relief over the auto bailout, investor sentiment has also grown a bit more upbeat in the past few trading sessions after the Federal Reserve cut the benchmark federal funds rate to a range of zero to 0.25 percent. Investors are looking for any signs that the government is being proactive about reviving the economy.
After doling out hundreds of billions of dollars in aid this year to prop up the troubled auto and financial sectors, the government continues to be tapped by companies for assistance. Some of the country's largest property developers are seeking government help as the threat of default on commercial properties is growing, according to a Wall Street Journal report on Monday.
Another recipient of the government's assistance, American International Group Inc., meanwhile, is selling its Hartford Steam Boiler unit to reinsurer Munich Re AG for $742 million as it works to shed assets to pay back a government loan. AIG received a $150 billion rescue package from the government last month to help it pull through the credit crisis.
AIG shares rose 8 cents, or 5 percent, to $1.68.
Bond prices were mostly lower. The yield on the benchmark 10-year Treasury note, which moves opposite its price, slipped to 2.17 percent from 2.21 percent late Friday. But the yield on the three-month T-bill, considered one of the safest investments, rose to 0.03 percent from zero late Friday.
Light, sweet crude fell $1.04 to $41.32 a barrel on the New York Mercantile Exchange.
The dollar was mixed against other major currencies, while gold prices rose.
Overseas, Japan's Nikkei stock average rose 1.57 percent, while Hong Kong's Hang Seng index dropped 3.34 percent. In afternoon trading, Britain's FTSE 100 was down 1.88 percent, Germany's DAX index was down 1.23 percent, and France's CAC-40 was down 2.31 percent.
NEW YORK (AP) -- Wall Street began a holiday-shortened week cautiously Monday, slipping as investors reacted to a bleak outlook from Toyota Motor Corp. and disappointing earnings from drugstore operator Walgreen Co.
ADVERTISEMENTThe two companies -- both viewed as better-positioned than many of their peers -- provided more evidence that even stronger companies are struggling with dropping consumer demand.Toyota, meanwhile, slashed its earnings forecast for a second time, warning that it now expects to report an operating loss for the fiscal year through March. It would be the Japanese automaker's first such loss since it began reporting results in 1941, and underscores the challenges facing car companies. Toyota's American rivals, General Motors Corp. and Chrysler LLC, received a $17.4 billion lifeline from the federal government on Friday to stave off a major bankruptcy.
The gloomy corporate news Monday highlighted how weak the consumer is, said Kim Caughey, equity research analyst at Fort Pitt Capital Group. That's a troubling prospect, she said, because it appears the U.S. economy cannot rely on consumer spending to pull it out of its downturn.
On Tuesday, the Commerce Department reports on last month's new home sales, while the National Assocation of Realtors reports on existing home sales. Economists forecast that both pieces of data will show declines.
In midday trading, the Dow Jones industrial average fell 64.04, or 0.75 percent, to 8,515.07, after briefly moving into positive territory.
Broader stock indicators also dipped. The Standard & Poor's 500 index fell 14.25, or 1.60 percent, to 873.63, and the Nasdaq composite index fell 30.99, or 1.98 percent, to 1,533.33.
The Russell 2000 index of smaller companies fell 13.04, or 2.68 percent, to 473.22.
Declining issues outnumbered advancers by about 2 to 1 on the New York Stock Exchange, where volume came to a very light 383.3 million shares.
Because trading volumes were very low, and likely to stay that way throughout the week, the market's movements may not be indicative of its long-term direction.
"A truncated week is going to make it tough to generate any firm takeaways from trading," said Craig Peckham, equity trading strategist at Jefferies & Co. "I would expect to see sleepy volumes and a lot of people protecting positions going into year end."
Tax-loss selling -- when investors sell securities at a loss to offset a capital gains tax liability -- might also contribute to the market's weakness until the year's end, Fort Pitt's Caughey noted.
Toyota's U.S.-traded shares fell $3.36, or 5.2 percent, to $61.02.
Walgreen shares fell $1.40, or 5.4 percent, to $24.68.
Wall Street has shown some signs of relative stability in the last few weeks. Since reaching multiyear lows on Nov. 20, the Dow is up about 13 percent and the S&P 500 is up about 18 percent.
Besides relief over the auto bailout, investor sentiment has also grown a bit more upbeat in the past few trading sessions after the Federal Reserve cut the benchmark federal funds rate to a range of zero to 0.25 percent. Investors are looking for any signs that the government is being proactive about reviving the economy.
After doling out hundreds of billions of dollars in aid this year to prop up the troubled auto and financial sectors, the government continues to be tapped by companies for assistance. Some of the country's largest property developers are seeking government help as the threat of default on commercial properties is growing, according to a Wall Street Journal report on Monday.
Another recipient of the government's assistance, American International Group Inc., meanwhile, is selling its Hartford Steam Boiler unit to reinsurer Munich Re AG for $742 million as it works to shed assets to pay back a government loan. AIG received a $150 billion rescue package from the government last month to help it pull through the credit crisis.
AIG shares rose 8 cents, or 5 percent, to $1.68.
Bond prices were mostly lower. The yield on the benchmark 10-year Treasury note, which moves opposite its price, slipped to 2.17 percent from 2.21 percent late Friday. But the yield on the three-month T-bill, considered one of the safest investments, rose to 0.03 percent from zero late Friday.
Light, sweet crude fell $1.04 to $41.32 a barrel on the New York Mercantile Exchange.
The dollar was mixed against other major currencies, while gold prices rose.
Overseas, Japan's Nikkei stock average rose 1.57 percent, while Hong Kong's Hang Seng index dropped 3.34 percent. In afternoon trading, Britain's FTSE 100 was down 1.88 percent, Germany's DAX index was down 1.23 percent, and France's CAC-40 was down 2.31 percent.
Financial rescue plans, "there is hope that the rebound in the U.S. stock market, financial rescue plan for the implementation"
Online Stock TradingTrade stocks online with no fees free charts, Free Demo Accountwww.gcitrading.com/share-tradingTraders gather at the Bank of America kiosk on the floor of the New York Stock Exchange in New York, Sept. 24, 2008.NEW YORK, Sept. 25 (Xinhua) -- U.S. stocks rallied Thursday on reports that Congress reached an agreement in principle on financial rescue plan.Investors were encouraged as key lawmakers said they would present the 700-billion-U.S. dollar plan to the Bush administration and hoped for a vote by both houses of Congress within days.On Thursday, the Labor Department said the number of people seeking unemployment benefits increased by 32,000 to a seasonally adjusted 493,000 last week, the highest level in seven years.The Commerce Department said sales of new homes fell sharply in August to the slowest pace in 17 years. The average sales price also fell by the largest amount on record.The Dow Jones average rose 196.89, or 1.82 percent, to 11,022.06. The Standard & Poor's 500 index advanced 23.31, or 1.97 percent, to 1,209.18 and the Nasdaq composite index rose 30.89, or1.43 percent, to 2,186.57.
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