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CNNMoney.com Market Report - Oct.
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Raging bulls
Dow jumps 936 points and S&P up 104, in the biggest point gains ever. The Dow, S&P and Nasdaq all gain over 11%.
By Alexandra Twin, CNNMoney.com senior writer Last Updated: October 13, 2008: 6:15 PM ET EMAIL | PRINT | SHARE | RSS
1. Raging bulls 2. Spanish bank to buy Sovereign for $1.9 billion 3. Goldman Sachs applies for N.Y. bank charter 4. Oil recovers but demand worries remain 5. Fortune 500: Who's up, down and gone
NEW YORK (CNNMoney.com) -- Stocks rallied Monday afternoon, with the Dow rallying 976 points during the session, as investors bet that the worst of the credit crisis is over, following a series of global initiatives announced over the last few days. The Dow Jones industrial average (INDU) ended 936 points higher, after having risen as much as 976 points during the session. The advance was the largest ever during a session on a point basis. The point gain was equal to 11.1%, the best one-day percentage gain since Sept. 1932 and the fifth-best ever. The Standard & Poor's 500 (SPX) index added 104 points, its best one-day point gain ever, equal to 11.6%.That was also the best percentage gain since Sept. 1932 and the fourth-best overall. The Nasdaq composite (COMP) added almost 195 points, the 10th best day on a point basis. The gain of 11.8% was its second-best ever, after a gain of 14.2% on Jan. 3, 2001, right near the end of the tech bubble. Stocks were buoyant Monday as investors welcomed a global effort to unfreeze the credit market and get money flowing through the system again. Although stocks reacted positively, credit markets barely budged. "We had some good news this morning from the Fed and the other central banks, but we were also oversold on an historic level and due for a big bounce," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. Monday's rally increased market value by $1.2 trillion, the largest single-day paper value gain ever according to an advance in the Dow Jones Wilshire 5000, the broadest
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Dow ends 936 points higher, the largest points gain ever.
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9,387.61 1,844.25 1,003.35 100 31/32 1 euro = $1.363
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936.42 / 11.08% 194.74 / 11.81% 104.13 / 11.58% Yield: 3.88% 0.004
October 13, 2008 4:05 PM ET
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http://money.cnn.com/2008/10/13/markets/markets_newyork/index.htm?postversion=2008101315[10/13/2008 7:42:52 PM]
CNNMoney.com Market Report - Oct. 13, 2008
measure of the stock market. That cut in half the $2.4 trillion in market value the Wilshire lost in the recent 8-session bloodletting. Last week was the Dow's worst ever, ending a stunning eight-session selloff that seared 2,400 points off the bluechip indicator. That represented a 22% decline in the Dow, something not seen since at least the '30s. Detrick said that not only had the Dow fallen for eight straight sessions, but it had also fallen for eight straight weeks. "We basically saw a crash, and so you're going to see a big bounce off that," he said. That bounce was predicated by the day's news, with investors breathing a sigh of relief that some specifics were finally released regarding the $700 billion bank bailout. "But the devil will be in the details, in terms of what we hear tomorrow," said Chris Johnson, CEO at Johnson Research Group. On Tuesday, the Treasury Department is expected to release more specifics on the bailout. Whether the rally can continue beyond the short-term is unclear, as analysts debate whether the market really put in a bottom on Friday. Johnson said he's not convinced. He equated Monday's rally to a beach ball that has been pushed further and further under the water, where it builds up so much pressure that when it is finally released, it bounces. "We saw a lot of desperate selling over the last few weeks and at some point, these stocks start to look attractive," Christopher Colarik, portfolio manager at Glenmede Investment Management. Previous efforts to get the credit markets moving again had failed to reassure investors, but the latest developments seemed to provide reassurance. "Seeing that there's going to be more of a global commitment to resolving the financial crisis has given confidence to investors and gotten them to put some money to work," Colarik said.
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Movers: Gains were broad based, with all but 3 of the Nasdaq 100 (NDX) gaining and all but 1 of the Dow 30 rising. The Dow's biggest gainer was General Motors (GM, Fortune 500), which surged 33% after having been hit hard in the recent selloff. GM has reportedly held talks with Chrysler about a possible merger, although analysts say GM would need to raise cash ahead of any potential deal. Other Dow gainers included Alcoa (AA, Fortune 500), up
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22.8%; Chevron (CVX, Fortune 500), up 21%; Microsoft (MSFT, Fortune 500), up 18.6%; and American Express (AXP, Fortune 500), up 18%. The Dow's lone decliner was General Electric (GE, Fortune 500), which reported weak quarterly earnings late Friday. It was also among the 18 components of the S&P 500 that didn't join the rally. Other S&P losers included a number of homebuilders and bank sector stocks. One notable exception in the financial sector was Morgan Stanley (MS, Fortune 500). Morgan gained 87% after it said it had completed plans to sell a 21% stake in itself to Japanese bank Mitsubishi UFJ for $9 billion. Market breadth was positive. On the New York Stock Exchange, winners topped losers by over 18 to 1 on volume of 1.82 billion shares. On the Nasdaq, advancers beat decliners by over 5 to 1 on volume of 2.67 billion shares. The latest: On Monday, Neel Kashkari, assistant Treasury Secretary and interim head of the $700 billion bailout program - outlined some of the steps the government will take in the weeks and months ahead. The program includes buying soured mortgage assets from banks and buying stock in a number of financial institutions. (Full story)
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Meanwhile, House Democrats are meeting Monday to put together a second economic stimulus package that could be worth $150 billion, although House Republicans are reportedly skeptical, CNN reports. World leaders met over the weekend to come up with solutions. After an emergency meeting Sunday, 15 European nations agreed to help their troubled banks by adding capital and guaranteeing inter-bank lending. (Full story) Additionally, the British government said it would pump $63 billion into three of the country's banks. And the U.S. central bank said it will offer an unlimited amount of dollars to three other central banks in an effort to keep money flowing. (Full story) The Fed announced an emergency rate cut last week, has pledged to help U.S. companies by buying short-term debt directly from businesses and has made billions available to banks in return for damaged assets. Credit markets still frozen: The recently announced initiatives made a small dent in the lending freeze Monday, although conditions remained tight. The three-month Libor, or what banks charge each other to borrow for three months, eased to 4.75% from a 2008 high of 4.82% Friday. The Libor-OIS spread, a measure of cash scarcity, eased to 3.61% from a record 3.67% Friday, suggesting cash is more available than at the end of last week. The TED spread, which is the difference between what banks pay to borrow from each other for three months and what the Treasury pays, fell to 4.57% after spiking to an all-time high of 4.65% Friday.
The wider the spread, the more reluctant banks are to lend to each other, rather than from the federal government. When markets are fairly calm, banks charge each other premiums that are not much higher than the U.S. government. Treasury bond markets are closed Monday for Columbus Day. (Full story) Other markets: U.S. light crude oil for November delivery settled up $3.49 to $81.19 a barrel on the New York Mercantile Exchange. On Friday, oil prices plunged more than $8 to a 13-month low. (Full story) Oil prices have tumbled on bets of slowing demand since the price of crude hit an all-time high of $147.27 a barrel on July 11. The price of gas decreased for the 26th consecutive day, according to a survey of credit card activity by motorist group AAA. COMEX gold for December delivery tumbled $16.50 to $842.50 an ounce. In currency trading, the dollar slipped against the euro and the yen.
First Published: October 13, 2008: 10:59 AM ET
Bear vs. Bull: Looking for a bottom The week that crushed Wall Street Election 2008: The Candidates and your money Ultimate retiring guide: 383 questions answered Issue #1: America's Money 50 years of profit swings
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U.S. to debut rescue

Treasury expected to announce $250B investment and backing bank debt. More 1st steps on U.S. rescue plans
Europe to U.S.: Rescue? Voila! Morgan seals deal with Mitsubishi The crisis: A timeline Obama: 5 new ideas for crisis Is your annuity safe? Retail: 'Worst is yet to come' History's economic
Raging bulls
Dow jumps 936 points, S&P up 104, in biggest point gains ever. More Stocks up around the world Dollar mixed on bailout efforts
CNNMoney.com Market Report - Oct. 13, 2008 lessons Will the U.S. lose its financial superpower status?
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Dow Roars 936 in Record-Breaking Rally - FOXBusiness.com
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Dow Roars 936 in Record-Breaking Rally

Email this Story | Respond to Editor | Matt Egan FOXBusiness Reversing course on last week's historic losses, the Dow posted its best one-day point gain ever Monday as the gloom and doom on Wall Street vanished -- at least temporarily -- amid the latest global rescue efforts. Today's Market The Dow Jones Industrial Average jumped 936.42 points, or 11.08%, to 9387.61, the broader S&P 500 soared 104.13 points, or 11.58%, to 1003.35 and the Nasdaq Composite surged 194.74 points, or 11.81%, to 1844.25. The consumer-friendly FOX 50 gained 76.04 points, or 11.23%, to 753.01. Monday's rally marked the first positive close on Wall Street since September 30 and raised hopes that the worst of the most serious financial crisis since the Great Depression could soon be over. It's unbelievable. Weve definitely taken some nervousness out of the market," said Anthony Conroy, head trader at BNY ConvergEx. "I think we're in the bottoming process...I do think the worst is over." That bullish sentiment was backed up by the fact the markets closed at their highest levels of the day, reversing a weeks-long trend of catastrophic late-day selloffs. In fact, the Dow surged by more than 300 points in the final hour alone. The Dow rally was the index's largest point gain ever, nearly doubling the previous record of 499 points set in March 2000. On a percentage basis, the gains were even more impressive as the Dow had its best day since September 1932. "We are way oversold. We should see a rally over the next two or three days," Dave Rovelli, managing director of equity trading at Canaccord Adams, told FOX Business ahead of the opening bell on Monday. U.S. markets followed in the footsteps of global indexes, which saw enormous gains. London's FTSE 100 rose 8.3%, while Paris's CAC and Germany's DAX each closed 11% higher. Hong Kong's Hang Seng Index surged 10% overnight.
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BUY A LINK HERE In addition to the global developments on the credit crisis, Morgan Stanley (MS: 18.10, +8.42, +86.98%) surged more than 85% after solidifying a $9 billion investment, General Motors (GM: 6.51, +1.62, +33.12%) and Ford (F: 2.39, +0.40, +20.10%) saw huge gains on merger reports and crude oil prices rebounded from 13-month lows to close above $80 a barrel.
The credit crisis reached new heights last week, sending the Dow to its worst weekly losses ever. The benchmark U.S. index plummeted 18%, briefly diving below the 8000 level. "I dont think were going much lower. Im not saying well go a great deal higher. But I think weve clearly seen a bottom," NYSE trader Jason Weisberg of Seaport Securities told FOX Business. Aluminum titan Alcoa (AA: 13.82, +2.57, +22.84%) and General Motors led the way up on the Dow Monday, jumping by double-digit percentages. United Technologies (UTX: 54.13, +6.50, +13.64%) and Microsoft (MSFT: 25.50, +4.00, +18.60%) also saw enormous gains on the Dow. General Electric (GE: 21.00, 0.50, -2.32%) closed down 2%, making the corporate conglomerate the lone blue-chip stock to close in the red on Monday. The Nasdaq Composite saw even greater gains, ending the day with its second-best percentage gain ever and largest point jump since the bursting of the tech bubble. Virgin Media (VMED: 7.21, +2.05, +39.72%) and Baidu.com (BIDU: 266.05, +52.30, +24.46%) were two of the Nasdaq 100's biggest percentage winners on Monday. Big-name tech stocks like Microsoft (MSFT: 25.50, +4.00, +18.60%), Google (GOOG: 381.02, +49.02, +14.76%) and Apple (AAPL: 110.26, +13.46, +13.90%) also saw double-digit percentage gains. Rescue Calls Answered Europe saw the most significant developments over the weekend: there are plans for government-backed bank borrowing; plans to inject billion of dollars of new liquidity into banks; and a $63 billion rescue in the U.K. for Royal Bank of Scotland (RBS: 1.93, +0.48, +33.10%) and newly merged Lloyds TSB and HBOS. Late Friday Treasury Secretary Henry Paulson said the U.S. will buy equity stakes in banks for the first time since the Great Depression. The stakes will be made in nonvoting shares and will complement private investments, according to Paulson. Also, the Federal Reserve said Monday it will begin providing unlimited dollar funding to central banks through its currency swap agreements, enhancing another of its liquidity tools. Given the leaps made by European governments over the weekend, the U.S. is expected to announce additional coordinated measures in the next 24-48 hours to address
http://www.foxbusiness.com/story/markets/futures-jump-european-crafts-rescue-plan/[10/13/2008 7:53:29 PM]
Dow Roars 936 in Record-Breaking Rally - FOXBusiness.com credit problems, sources told FOX Business's Peter Barnes. Huge Rebounds for Morgan, GM The financial sector was boosted by the closing of a $9 billion investment by Mitsubishi UFJ to Morgan Stanley (MS: 18.10, +8.42, +86.98%). The terms of the transaction were altered given Morgan's 60% plunge last week. The news sent shares of Morgan surging by more than 90%. The auto sector rebounded from a nasty week after reports swirled of merger talks between Detroit's Big Three. General Motors (GM: 6.51, +1.62, +33.12%) has been in talks to acquire privately-held Chrysler LLC after failing to come to terms with Ford (F: 2.39, +0.40, +20.10%), published reports revealed. Crude Joins the Rally Meanwhile, crude oil futures gained steam Monday after plummeting 17% last week -- their worst weekly percentage drop since March 2003. Oil closed up $3.49 to $81.19 a barrel. Energy stocks responded to Monday's oil-price rebound in a big way, surging 16% as a sector. Oil giants Chevron (CVX: 69.89, +12.06, +20.85%) and ExxonMobil (XOM: 73.08, +10.72, +17.19%) saw even larger gains. Crude has been under enormous pressure on fears the credit crisis will spark a global recession, lowering demand for energy. The plunge in oil prices finally gave consumers a break on average gasoline prices, which plummeted 35 cents over the prior two weeks, the largest drop ever, according to the Lundberg Survey. Due to the Columbus Day holiday, bond markets were closed on Monday. Corporate Movers Wells Fargo's (WFC: 30.40, +2.09, +7.38%) $11.7 billion takeover of Wachovia (WB: 5.85, +0.70, +13.59%) received a green light from the Federal Reserve over the weekend, sending Wachovia's shares higher. United Technologies (UTX: 54.13, +6.50, +13.64%) withdrew its $2.64 billion deal for ATM maker Diebold (DBD: 28.69, +0.41, +1.44%). The $40-a-share buyout offer, which was unveiled in February, was repeatedly rejected by Diebold management as being too low. Sovereign Bancorp (SOV: 3.68, -0.13, -3.41%) saw its shares fall after Spain's Banco Santander (STD: 14.50, +1.47, +11.28%) confirmed earlier buyout reports. Santander, which has a 25% stake in Sovereign, is considering buying the remaining shares at Sovereign's current price, The Wall Street Journal reported. New York & Co. (NWY: 4.27, -2.98, -41.10%) lost more than one-third of its market cap after the retailer warned it sees a third-quarter loss in the range of 8 cents to 12 cents per share. Analysts had expected a profit of 11 cents per share, according to Thomson Reuters. Abbott Labs (ABT: 54.21, +4.76, +9.62%) unveiled a plan to repurchase $5 billion of its own stock after seeing its shares plunge to levels unseen in nearly two years.
PEOPLE ALSO READ... Kashkari: Financial Rescue Plan Under Way Oil Futures Gain Ahead Of Data On Crude Inventories Historic Losses on Wall Street Despite Late Rally Global Central Banks Inject More Liquidity Bank Execs Assemble in Washington to Discuss Rescue Plan
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Dow Roars 936 in Record-Breaking Rally - FOXBusiness.com
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Equities pull-back to close higher

13 Oct, 2008, 1546 hrs IST, ECONOMICTIMES.COM
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MUMBAI: Market ended with huge gains on Monday led by surge in frontline stocks . Banks, capital goods and power stocks were the top performing sectors. Bombay Stock Exchanges Sensex closed at 11,336.66, up 7.68 per cent or 808.81 points. The index touched an intra-day high of 11,361.32 and low of 10,817.68. National Stock Exchanges Nifty ended at 3505.70, up 225.75 points or 6.88 per cent. It touched a high of 3510.20 and low of 3272.90 during the day. BSE Midcap Index was up 4.40 per cent and BSE Smallcap Index gained 3.85 per cent. Reliance Communication (19.92%), Reliance Infrastructure (17.13%), ICICI Bank (16.71%), Sterlite Industries (15.99%) and HDFC Bank (12.58%) were the major Sensex gainers. Ranbaxy Laboratories (-5.88%) and ONGC (-1.02%) were the only losers. Market breadth remained extremely positive through the day. On BSE, there were 1687 advances against 926 declines. (All figures are provisional)
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satisfied: Traders in joyous mood after the benchmark BSE Sensex surged 804 points to close at 11332 level on the Bombay Stock Exchange in Mumbai on Monday. MUMBAI: Stock markets on Monday opened on a strong note, never looked back during the day and at close the Bombay Stock Exchange benchmark Sensex was up by over 780 points and had regained the 11000-level, leaving behind losses suffered last week, the toughest ever for the bourses.
Gift Parents Love & Care Health Insurance Asian and European markets also snapped their losing spree with key indices with No paperwork in the regions gaining nearly 5-10 per cent. Cashless Benefit, The BSE 30-share sensitive index settled higher by 781.24, or 7.42 per cent, 4500+ hospitals
ICICILombard.com
at 11309.09. Similarly, the National Stock Exchanges index gained 210.75 points, or 6.43 per cent, at 3490.70 and most of the index participants traded higher.
http://www.hindu.com/2008/10/14/stories/2008101455001600.htm[10/14/2008 6:38:33 AM]
Marketmen credited the surge to Finance Minister P. Chidambarams statement that more measures were expected to be announced to improve liquidity in the system. They said announcements by G-20 nations of plans to tide over the crisis also helped boost investor sentiment. With governments worldwide assuring of steps to address the liquidity concerns, banking index surged the most at 12.51 per cent at 5985.16. ICICI Bank spurted 25 per cent to Rs. 453.05 during intra-day before closing little lower at Rs. 424.95. Its shares were battered in the recent past on rumours that cast doubts over its financial strengths. The realty index ended 231 points higher at 2754.07 after rising to 2778.63 at one stage. Analysts said the rally in the Asian markets after worlds major central banks took several steps to stem the global financial crisis also had a positive impact on the market sentiment. It seems that the stock markets have reacted positively to the governments measures, said a Delhi-based stock broker Manoj Choraria. DLF stocks rose 6.99 per cent to Rs. 301.35, while Indiabull Real Estate surged 23.62 per cent to Rs. 118. Stocks of Akruti City, which had been under pressure for long, staged a significant recovery of 7.94 per cent to close at Rs. 688.95. Unitech shares also closed 10.63 per cent higher at Rs. 91.60. Other gainers were, Anant Raj (1.99 per cent) at Rs. 82, Ansal Infra (3.84 per cent) at Rs. 74.30, and Mahindra Life (7.27 per cent) at Rs. 233. PTI Related stories: RBI, government infuse liquidity RBI cuts CRR by additional 1 pc BJP seeks "long-term" bailout plan for economic crisis SEBI says no evidence of illegal activity Market mayhem continues Printer friendly page Send this article to Friends by E-Mail
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Dow's 2nd best day ever

Dow rises 11% on big rally, but October is still shaping up to be one of the worst months in Wall Street history.
By Alexandra Twin, CNNMoney.com senior writer Last Updated: October 28, 2008: 5:42 PM ET EMAIL | PRINT | SHARE | RSS
1. Dow's 2nd best day ever 2. Election: Your health insurance at stake 3. Wall Street's election riddle 4. Gas near three-year low 5. Fed and New Zealand in $15B swap
NEW YORK (CNNMoney.com) -- The Dow rallied as much as 906 points during Tuesday's session, as investors dove back into stocks near the end of one of the worst months in Wall Street history. The Dow Jones industrial average (INDU) added 889 points after having risen as much as 906 points earlier in the session. It was the Dow's second-biggest one-day point gain ever, following a 936-point rally two weeks ago. The advance of 10.9% was the sixth-biggest ever. The Standard & Poor's 500 (SPX) index gained 91.6 points or 10.8%, its second-biggest one-day point gain ever and its fifth-best one-day percentage gain. The Nasdaq composite (COMP) rose 143.6 points or 9.5%. On a percentage basis, it was the fourth-best one-day gain ever for the tech-fueled Nasdaq. But on a point basis, it didn't crack the top 10. The broad advance occurred as the two-day Federal Reserve meeting got underway, with a decision on interest rates expected Wednesday afternoon. Policymakers are widely expected to cut a key short-term interest rate. Stocks ended Monday's session at the worst levels in more than five years, with the major gauges down more than 25% for October. Global markets had fallen too, as investors worldwide bailed out of stocks amid the credit crisis and weak economy. After such a selloff, U.S. and global markets bounced back Tuesday. Wall Street briefly retreated in the midmorning after a report showed consumer confidence is at an all-time low, but investors recharged later in the session. "There was nothing good happening there and then

Retail stocks: Where the smart money is Dow's 2nd best day ever Consumer confidence at all-time low Looser lending as confidence rises October: The cruelest month for stocks
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suddenly we saw this powerful rally take hold," said Phil Orlando, chief equity market strategist at Federated Investors. "You have to ask at what point does valuation become its own catalyst?" He said that stocks have been so beaten down that investors are eventually going to decide enough is enough and that it's time to get back in. "I think we're right near that point, but I'm not sure today was it." He said that at the very least, the advance shows that "Armageddon is off the table," as investors are now focused on recession as opposed to something worse. Short-term challenges include the initial read on economic growth in the third quarter, due out on Thursday. Economists expect an 0.5% rate of decline after GDP grew at a 2.2% annual rate in the second quarter. Next week's presidential election and October jobs report are also big potential momentum changers. Looking for a bottom: The major gauges touched what could prove to be the lows for the bear market more than two-weeks ago, sparking a huge 936-point rally. Since then, stocks have seesawed as lending tightened up and investor fears hit an apex. Last week, the CBOE Volatility (VIX) index, or the VIX, hit an all-time high just below 90. And record amounts of cash remain in moneymarket funds. On Tuesday, the S&P 500 came within 6 points of that earlier trading low before bouncing back. Analysts said that from a technical perspective, this was a good sign. "When you look at this in terms of valuation, volatility and investor sentiment, everything portends that a bottom has been reached or is near," said Matt King, chief investment officer at Bell Investment Advisors. However, he said that a more extended rally would be dependent on seeing more of the hour-by-hour volatility washed out of the market.
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The stock market tends to move in anticipation of where the Buy a link here economy will likely be six to nine months out. But with so little clarity on the depth of the recession, stocks are likely to keep seesawing for the time being, said Gary Webb, CEO at Webb Financial Group. "I think the opportunity for a longer-lasting rebound is not far off, but there's still going to be a lot of craziness before that," he said. On the move: Gains were across-the-board, with a variety of stocks rallying. All but 10 of the S&P 500 gained Tuesday. All but three of the Nasdaq 100 non-financial stocks gained. All 30 Dow components climbed and all 30 posted gains of at least 6%.
Among the session's movers, Alcoa (AA, Fortune 500) rose 19% and was the biggest gainer on the Dow industrials. Citigroup (C, Fortune 500), General Motors (GM, Fortune 500) and Home Depot (HD, Fortune 500) all added at least 14%. Component Boeing (BA, Fortune 500) rallied 15%. The aerospace maker and its union reached a tentative deal that could end the longest strike at the company in more than a decade. Microsoft (MSFT, Fortune 500), Intel (INTC, Fortune 500), Cisco (CSCO, Fortune 500), Apple (AAPL, Fortune 500) and Oracle (ORCL, Fortune 500) were among the big tech stocks powering up the Nasdaq composite. Market breadth was positive. On the New York Stock Exchange, winners topped losers four to one on volume of 1.73 billion shares. On the Nasdaq, advancers beat decliners by almost five to two on volume of 2.84 billion shares. Banks and credit: A drop in lending rates helped drive the advance Tuesday, with investors continuing to welcome signs that government efforts to loosen up the credit market are starting to work. The Federal Reserve started buying commercial paper Monday, short-term debt that businesses rely on for funding daily operations. Also Monday, the Treasury said it will start handing out $125 billion to nine banks this week to get credit moving again. The initiatives were all part of the $700 billion bank bailout plan to get banks lending to each other again. The disruption in credit markets and lack of available lending over the last few weeks has exacerbated fears about a bigger economic slowdown. The lack of lending has made it harder for businesses and individuals to get critical loans. The credit market had initially responded to some of the government's efforts, but lost momentum in the last few sessions as recession fears grew. On Tuesday, lending loosened up again, with Libor, the overnight bank-to-bank-lending rate, falling to 1.24% from 1.26% Monday, according to Dow Jones. The 3-month Libor rate, or what banks charge each other to borrow money for three months, slipped to 3.47% from 3.51% Monday, also according to Dow Jones. (Full story) Treasury prices slumped, raising the yield on the 10-year note to 3.77% from 3.68% late Monday. Treasury prices and yields move in opposite directions. (Full story) Economic news: A key measure of consumer mood fell to an all-time low, a reflection of the dismal market performance and tough economic conditions. The Conference Board's Consumer Confidence index plunged to 38 in October from a revised 61.4 in September. Economists thought the survey would fall to 52, according to Briefing.com forecasts. (Full story) Another report showed home prices in August fell for the 25th month in a row. Meanwhile, prices in 10 major markets tumbled a record 17.7% versus a year ago. Other markets: The dollar gained versus the euro and the yen, reversing its recent trend. U.S. light crude oil for December delivery fell 49 cents to settle at $62.73 a barrel, a 17-month low. Gasoline prices fell another 3.9 cents overnight, to a national average of $2.629 a gallon, according to a survey of credit-card activity by motorist group AAA. It was the 41st consecutive day that prices have decreased. During that time, prices have fallen by $1.23 a gallon, or nearly 32%. COMEX gold for December delivery fell $2.40 to settle at $740.50 an ounce. Brutal month: Despite Tuesday's big rally, October is still shaping up to be one of the worst months on Wall Street ever.
As of Monday's close, the Dow had lost 2,675 points, or 24.7%, in October. Barring a massive rally over the next few sessions, the point loss will amount to the Dow's worst ever, according to Stock Trader's Almanac info going back to 1901. On a percentage basis, it's the Dow's fifth worst ever. The S&P 500 had lost over 317 points, or 27.2%, and is currently on track to post its worst month ever on a point basis and third worst ever on a percentage basis, going back to 1930. The Nasdaq was down 576 points, or 27.7%, tracking it's fourth-worst month ever on a point basis and its second-worst month on a percentage basis, going back to its inception in 1971.
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Sensex starts up by 505 points in "muhurat trading"

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Press Trust Of India Mumbai, October 28, 2008
First Published: 19:06 IST(28/10/2008) Last Updated: 19:17 IST(28/10/2008)
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It was cracker of a Diwali at the Bombay Stock Exchange this evening when the bourse registered a sharp 547-point rise bringing brought back some enthusiasm among investors after last Friday's bloodbath. As investors made token deals during the auspicious "muhurat" trading for Samvat 2065, the 30-share barometer of Bombay Stock Exchange, buoyed by a bounce in global stock market, resumed the one-hour special trading session higher by 505.36 points or 5.94 per cent at 9,014.92 over its previous close, halting a four-day free fall in the market. Similarly, the 50-share Nifty of the National Stock Exchange jumped by 132.35 points or 5.24 per cent to 2,656.55 at 1816 hours from its last close. Traders said the market was supported by sectors like realty, metal and capital goods.
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Indian bourses took a cue from a bounce in Asian indices and European indices during the day while the US futures indicated a rally ahead of the Federal Reserve's meeting on the interest rates. Among the Asian indices, Hang Seng rebounded by 14.35 per cent, Nikkei by 6.41 per cent, Strait Times 4.14 per cent and Kospi by 5.57 per cent. The Germany's DAX was trading higher by 8.78 per cent, France's CAC by 2.89 per cent and London's FTSE by 4.23 per cent during the first half of trading. Analysts, however, felt the market is unlikely to stabilise at the current levels due to panic situation and that it is yet to touch its bottom.
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Sensex zooms by 815 points in early trade

Press Trust Of India Mumbai, October 31, 2008
Print First Published: 11:28 IST(31/10/2008) Last Updated: 14:30 IST(31/10/2008)
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The benchmark Sensex on Thursday surged by a whopping 815 points at 1130 hrs on the back of firm Wall Street cues, declining inflation and good buying on the first day of new derivatives contract. The Bombay Stock Exchange 30-share bellwether index resumed with an upside gap of over 300 points and rallied further to quote at 9,859.25 at 1130 hrs, a smart rise of 814.74 points over previous close. Similarly, the S&P CNX Nifty of the National Stock Exchange also spurted by 224.30 points to 2,921.35 at 1130 hrs from last close. Fall in inflation to 10.68 per cent for the week ended October 18, from 11.07 per cent in the previous week, showing a decline for the fifth successive week mainly boosted the market sentiment, brokers said. US Federal Reverse's aggressive decision to cut key interest rates by 50 basis points to support the worldwide economic downturn also partly aided the uptrend.
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On Wall Street on Thursday, the Dow Jones Industrial Average and the Nasdaq Composite Index rose by 189.73 points and 41.31 points respectively, while Asian indices displayed a mixed pattern of trading on Friday morning. The rally was so strong that all 30 Sensex-based shares were quoting remarkably higher and all the sectoral indices were trading up by nearly 2.5 per cent to 9.0 per cent. IT, metal, refinery and banking counters were at the centre stage.
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Sensex recoups from early losses to end higher by 293 points

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Stock markets rose for the fifth day in a row on Tuesday as the benchmark Sensex advanced further by over 290 points on strong buying support sparked by bankers' assurance to Finance Minster P Chidambaram on considering cutting lending rates. Markets opened weaker by 221 points after a four-day gaining spree-- which saw the Sensex rising over 1800 points-- but the bellwether index not only recovered the losses but gained further to settle the day higher. The 30-share Sensex finally ended at 10,631.12, up by 293.44 points, or 2.8 per cent. Its total gains in five straight sessions are now nearly 2100 points, a stark contrast to relentless decline seen last month during which it tested lowest level in three years. The wide-based National Stock Exchange index Nifty also gained 98.25 points, or 3.23 per cent at 3142.10.
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Brokers said markets which were down were revived by reports of Finance Minister P Chidambaram's comments that banks have assured him that they would consider the demand for lowering lending rates. Realty and banking sectors surged on expectations of boom on likely cut in interest rate and assurance of housing and SME sectors of adequate liquidity. Meanwhile, country's largest public sector lender State Bank of India today said it will consider cutting down the benchmark lending rate by up to 50 basis points tomorrow. Punjab National Bank and Union Bank have already lowered their benchmark prime lending rate following a series of monetary measures taken by the Reserve Bank.
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MUMBAI: Continuing its upsurge for the fourth day in a row, the Bombay Stock Exchange 30-share sensitive index, (Sensex) closed higher by nearly 550 points after regaining the 10000-level in the opening trade itself on Monday. Marketmen said buying got a boost by slashing of key rates by the Reserve Bank of India over the weekend to inject an estimated Rs. 85,000 crore into the system.
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A firming global trend was another boosting factor for the market with almost all the banking and interest-sensitive realty stocks recording heavy gains. Capital goods index shot up by 574.61 points to 7592.22 with stocks of BHEL, Larsen and Toubro, Siemens, Gammon India and Reliance Infra rising smartly. Banking index rose by 376.15 points to 5387.39, with all banking stocks recording gains of up to 14.36 per cent. Oil and gas sector index shot up by 351.50 points to 6547.12 as segment major Reliance Industries surged Rs. 66.30 to Rs. 1437.05, ONGC by Rs. 40.90 to Rs. 710.70 and Aban Offshore by Rs. 87 to Rs. 882.60. PSU segment index gained 280.33 points at 4845.25, metal index by 254.77 points at 5622.37, realty index by 164.04 points at 2142.28, power index by 102.62 points at 1685.99, healthcare index by 79.40 points at 2858.04, FMCG index by 72.07 points at 1871.90, auto index by 60.20 points at 2745.82, consumer durable index by 31.53 points at 2104.51 and IT by 12.42 points at 2874.36. PTI Printer friendly page Send this article to Friends by E-Mail
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Citi Lights Up Wall Street; Best Day of '09 - FOXBusiness.com
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Matt Egan FOXBusiness The Dow surged nearly 400 points Tuesday -- its best day in an otherwise dismal 2009 -- as Wall Street cheered after embattled Citigroup said it was profitable during the first two months of the year. Todays Markets The Dow Jones Industrial Average jumped 379.44 points, or 5.80%, to 6926.49, the S&P 500 rose 43.07 points, or 6.37%, to 719.60 and the Nasdaq Composite picked up 89.64 points, or 7.07%, to 1358.28. The consumer-friendly FOX 50 added 31.86 points, or 6.24%, to 542.69. The markets were in the green for the entire trading day in a broad-based rally that ended at session highs. The gains were even stronger for the Nasdaq Composite, which enjoyed its biggest one-day percentage gain since October 2008. We were looking for a little bit of good news and we got it from Citigroup, said Paul Nolte, director of investments at Hinsdale Associates. As much as we get excited about [this rally], the key will be whether we can rally for more than one day. Aside from positive comments from Citigroup (C: 1.44, 0, 0%) CEO Vikram Pandit, the markets were lifted Tuesday by a huge rally in big-name tech stocks like Google (GOOG: 308.17, n.a., n.a.%), comments about a possible reinstatement of the "uptick" rule and Dow Chemicals (DOW: 6.84, n.a., n.a.%) agreement to buy rival Rohm & Haas (ROH: 77.83, 0, 0%). The market was ready for something. Its been dramatically oversold, NYSE trader Ted Weisberg told FOX Business. Until something fundamentally changes, we are still going to be in difficult territory. But well take what we can get. Tuesday's rally represents the Dow's biggest one-day rally since Nov. 24 when it jumped 396 points. The benchmark index, which hasn't seen two straight days of gains since Feb. 6 and was trading at its lowest levels since April 1997, is still off by 21% year-to-date. We seem to be shocked by an up day, which I guess is natural when you are down 50% from the peak. The fact that it doesnt take much to bounce an oversold market is pretty well displayed today, said Art Hogan, chief market strategist at Jefferies & Co.
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All 30 components of the Dow closed in the green, led by double-digit gains for financial companies JPMorgan Chase (JPM: 19.42, 0, 0%), Citi, Bank of America (BAC: 4.7125, 0, 0%) and General Electric (GE: 8.85, n.a., n.a.%). JPMorgan alone accounted for 28 points of the gain on the index. Defensive stocks like McDonald's (MCD: 52.47, 0, 0%) and Coca-Cola (KO: 39.08, 0, 0%) saw more modest gains but still closed in positive territory. The Nasdaq Composite jumped even further than the broader market Tuesday as big-name tech stocks like Cisco (CSCO: 14.635, 0, 0%) and Apple (AAPL: 88.6275, 0, 0%) recovered from Mondays slide. Tech stocks were helped by chip maker Texas Instruments , which raised its quarterly outlook slightly even as it said no recovery in the chip market is in sight. Citi-Sized Rally Financial stocks and market sentiment received a big shot in the arm Tuesday from Pandit, who wrote a memo to Citi employees saying the embattled bank is having its best quarter-to-date performance since the start of the credit crisis in the third quarter of 2007. The comments were unexpected as Citi has received three rescues from the government and its shares plunged below $1 last week for the first time ever. Also, the bank lost $8.29 billion last quarter, its fifth straight quarterly loss. Citi's stocks surged almost 40% Tuesday. The financial sector surged almost 15% in response on Tuesday and some individual banks like State Street (STT: 20.6864, 0, 0%) and PNC Financial (PNC: 24.53, 0, 0%) jumped even further. The Pandit memo showed Wall Street that these guys arent at the edge of a cliff, said Marc Pado, U.S. market strategist at Cantor Fitzgerald. I never thought they were because they have an unlimited checkbook through the backing the bank has received from the Federal Reserve, he said. The Citi news comes as The Wall Street Journal reported U.S. officials are considering further steps to stabilize the bank if its problems mount. Officials described the talks, which are wide-ranging and preliminary, as contingency planning and said no new rescue was imminent, the paper reported. The markets were also boosted by U.S. Rep. Barney Frank, who told reporters he expects the "uptick" rule to be restored in about a month. The rule would be aimed at slowing the pace of short selling. Frank also said the mark-to-market accounting rule, which has forced billions of writedowns for banks, must be improved and made more
http://www.foxbusiness.com/story/markets/futures-rise-citi-says-profitable/[11-Mar-2009 1:38:20 AM]
Citi Lights Up Wall Street; Best Day of '09 - FOXBusiness.com flexible. Meanwhile, Federal Reserve Chairman Ben Bernanke made the case for an overhaul of financial regulations in a speech on Tuesday and said officials are ready to ensure that systemically important financial institutions continue to be able to meet their commitments. In the commodity markets, crude oil's hot streak was torpedoed by a late-day slide. The price of a barrel of crude closed at $45.71, down $1.36 on the day. Gold ended in the red for the 10th time out of the last 12 days, settling at $859.90 per ounce, down $22.10. Corporate Movers Dow Chemical (DOW: 6.84, n.a., n.a.%) relented by agreeing to acquire rival Rohm & Haas (ROH: 77.83, 0, 0%) for the original $78-a-share price plus penalties, settling a legal battle that nearly went to trial. However, the new deal aims to bolster Dows financial security by including up to $3 billion in new investments from two top Rohm & Haas shareholders. United Technologies (UTX: 40.6416, 0, 0%) unveiled plans to slash 11,600 jobs this year. The world's largest elevator and air condition maker also cut its 2009 earnings and revenue guidance, saying the economic recovery previously anticipated in the second half of 2009 appears unlikely. Tiffany (TIF: 18.22, 0, 0%) is planning to shut its underperforming Iridesse pearl jewelry retail chain that was opened in 2004 due to the recession, the Journal reported, citing an internal memo. Genentech (DNA: 91.75, 0, 0%) is close to selling itself to majority owner Roche (RHHBY: undefined, undefined, undefined%) in a deal that would value the biotech giant at $46.7 billion, or $95 per share, the Journal reported. The two sides nearly announced the deal Monday and have been haggling over timing and closing conditions, the paper reported. Bank of America (BAC: 4.7125, 0, 0%) CEO Ken Lewis is mounting a full-court press to argue his struggling bank is not in the same condition as Citigroup (C: 1.44, 0, 0%), the Journal reported. Instead, in internal memos Lewis has argued BofA will not need more money and plans to earn its way out of the recession, the newspaper reported. Office Depot (ODP: 0.9, 0, 0%) surged by more than 50% after the office supplies retailer said it believes its first-quarter results will be "significantly better" than the fourth quarter. Merrill Lynch , which is now a unit of Bank of America (BAC: 4.7125, 0, 0%), made a huge bet in Brazil last year by luring 10 investment bankers from rival banks, the Journal reported. However, the companys investment bankers in Latin America brought in only $50 million through late December, while piling up more than $100 million in mostly compensation-related expenses. Boeing (BA: 32.97, 0, 0%) reaffirmed it expects the first delivery of its widely-anticipated 787 Dreamliner in the first quarter of 2010. Global Markets European markets closed sharply higher across the board but Asian stocks ended mixed overnight. The Dow Jones Euro Stoxx 50 , which tracks the 50 largest companies in Europe, soared 6.05% to 1919.53, London's FTSE 100 rose 4.88% 3715.23 and Germany's DAX gained 5.28% to 3886.98. In Asia, Japan's Nikkei 225 fell 0.44% to 7054.98 while Hong Kong's Hang Seng gained 3.08% to 11694.05. Australia's ASX 200 rose 0.95% to 3184.50.
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Stocks: Biggest gains of '09

The Dow gains 379 points, Nasdaq surges 7% and S&P 500 rallies 6.4% on Citigroup and possible limit on short selling.
By Alexandra Twin, CNNMoney.com senior writer Last Updated: March 10, 2009: 6:28 PM ET EMAIL | PRINT | SHARE | RSS
1. Stocks: Biggest gains of '09 2. Senate passes $410 billion spending bill 3. Madoff to plead guilty on 11 charges 4. Time to go shopping for tech values 5. Pandit's profit pipe dream
NEW YORK (CNNMoney.com) -- Stocks rallied Tuesday with all three major indexes logging their biggest gains of the year - after Citigroup cooled some worries about its future and regulators said they may reinstate a key trading rule. The Dow Jones industrial average (INDU) gained 379 points, or 5.8%. It was the Dow's biggest one-day point and percentage gain since Nov. 24, 2008. The S&P 500 (SPX) index gained 43 points, or 6.4%. It was the biggest one-day point gain since Dec. 16, 2008 and biggest on a percentage basis since Nov. 24, 2008. The Nasdaq composite (COMP) climbed almost 90 points, or 7.1%. It was the biggest one-day point gain since Nov. 13, 2008 and biggest percentage gain since Oct. 28, 2008. "Today's rally was very welcome news from a market that's gone nowhere but down over the last several months," said Michael Sheldon, chief market strategist at RDM Financial Group. He said that the advance was strong in terms of the number of stock advancers versus decliners, as well as the trading volume. Looking forward, one issue is that there are a lot of sellers who are going to want to sell into strength, he said. But for the time being, stocks could manage more gains. "Overall we are oversold here and there is still a lot of pessimism in place that could fuel a rally," he said. Extreme pessimism can be good for a rally from a contrarian perspective. Citigroup (C, Fortune 500)'s CEO said that the company was profitable in the first two months of the year and expressed optimism about its capital position going forward. Shares of the hard-hit bank jumped 38%, leading a broader financial

Senate passes $410 billion spending bill Sony Pictures cuts 350 jobs Geithner: We'll fix the nation's 'deep mess' Hitachi pleads guilty to price-fixing Small biz outlook: More pain ahead
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6,926.49 1,358.28 719.60 97 26/32 1 euro = $1.268
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March 10, 2009 4:05 PM ET
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sector rally. The stock advance picked up speed after Rep. Barney Frank, D-Mass. and the head of the U.S. House Financial Services Committee, said that the Securities and Exchange Commission would restore the "uptick rule." The SEC later confirmed to CNN that it could reinstate the rule as early as next month. The uptick rule -- in place until July 2007 -- limited short sellers from adding to the downward momentum of a stock that was already plunging. In short selling, traders make money when the price of a stock falls. Critics say the ending of the rule exacerbated selling in the financial sector over the last year and a half. Stocks were also bouncing Tuesday after the recent bloodletting in the markets. Year-to-date, the Dow and S&P 500 had both fallen 25% as of Monday's close, while the Nasdaq had fallen around 17%. The market close Monday left the Dow and S&P 500 at 12year lows and the Nasdaq at 6-year lows.
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In light of the huge selloff, analysts have been saying for a while that the market was due for a sharp, bear market rally. That seemed to take hold Tuesday.
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"There's a chance that if this gets enough gas, it could move Double Your Money Now up a lot more," said Tom Schrader, managing director at Stifel Get Your Free Report: Make Money on the Short Side of the Stock Market Nicolaus. That turned out to be the case last fall after the www.investorplace.com stock market hit lows in both October and November.
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"There's tons of cash sitting in money markets and if people start to think they're going to miss out, they're going to want to jump back in," Schrader said. In other news, Bernard Madoff - the alleged swindler behind a $50 billion fraud - is set to plead guilty to 11 counts that could bring a sentence of 150 years in prison. Citigroup: CEO Vikram Pandit, in a letter to employees, said the bank was profitable year-todate, surprising Wall Streeters who expect the company to post a quarterly loss. However, the letter, filed with the SEC, did not specify how much credit losses and other one-time items would offset the profit. Shares had fallen about 80% through Monday's close on worries that the company won't be able to stay afloat, despite repeated government efforts to bolster the company. Last week, the government agreed to take up to a 36% stake in the company. (Full story) Movers: American Express (AXP, Fortune 500), Bank of America (BAC, Fortune 500), Wells Fargo (WFC, Fortune 500), JPMorgan Chase (JPM, Fortune 500), Goldman Sachs (GS, Fortune 500) and Morgan Stanley (MS, Fortune 500) were among the other bank stocks rallying. The KBW Bank (BKX) sector index, a measure of the 24 largest banks, climbed 15.6%. However the rally was broad based, with all 30 Dow components advancing. In addition to the Dow's financial stocks, other big gainers included Alcoa (AA, Fortune 500), Caterpillar (CAT, Fortune 500), DuPont (DD, Fortune 500), General Electric (GE, Fortune 500) and General Motors (GM, Fortune 500). A variety of big tech shares jumped, too, including Cisco Systems (CSCO, Fortune 500), eBay (EBAY, Fortune 500), Dell (DELL, Fortune 500), Google (GOOG, Fortune 500) and Dow
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component Intel (INTC, Fortune 500). Dow component United Technologies (UTX, Fortune 500) cut its 2009 revenue and earnings-pershare forecast, citing the global recession. The company also said it was cutting 11,600 jobs this year, or about 5% of the workforce. Dow component AT&T (T, Fortune 500) said it will add 3,000 jobs in 2009 as part of a capital spending program. Market breadth was positive. On the New York Stock Exchange, winners topped losers by over 13 to one on volume of nearly 2.19 billion shares. On the Nasdaq, advancers beat decliners by more than five to one on volume of 2.49 billion shares. Today, March 10, is a dubious anniversary for the Nasdaq. It's the 9-year anniversary of the day it hit its all-time high of 5048.62 at the height of the tech boom. As of Monday's close, the techheavy index was down 75% from its peak. (Full story) Bernanke: Investors also weighed comments from Federal Reserve Chairman Ben Bernanke, who called for an overhaul of the regulatory system. Speaking in the morning at the Council on Foreign Relations in Washington, the Fed chief said that companies deemed "too big to fail" need to be subject to stricter regulation so that a crisis like the current one doesn't happen again. In comments made after his speech, Bernanke also said he does not support the suspension of the mark-to-market accounting rule, but rather improvements in it. Critics say the rule has exacerbated the financial crisis by forcing banks to value assets at current fire sale prices. (Full story) The Securities and Exchange Commission is not planning to suspend the rule, Reuters reported. A congressional panel will exam the rule Thursday.
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Bonds: Treasury prices tumbled, raising the yield on the benchmark 10-year note to 3% from 2.87% Friday. Treasury prices and yields move in opposite directions. Lending rates tightened. The 3-month Libor rate rose to 1.33% from 1.31% Monday, while the overnight Libor rate held stead at 0.33%, according to Bloomberg.com. Libor is a bank-to-bank lending rate. Other markets: In global trading, Asian markets ended mostly higher, with the exception of the Japanese Nikkei. European markets rallied. In currency trading, the dollar fell versus the euro and the yen. U.S. light crude oil for April delivery fell $1.36 to settle at $45.71 a barrel on the New York Mercantile Exchange. COMEX gold for April delivery fell $22.10 to settle at $895.90 an ounce.
First Published: March 10, 2009: 11:25 AM ET
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A three-peat for Wall Street's bulls

Stocks continue their advance as investors react to better-thanexpected retail sales and GE downgrade.
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NEW YORK (CNNMoney.com) -- Stocks jumped Thursday, gaining for the third session in a row, as investors scooped up banks and other shares hit in a selloff that left the Dow at 12-year lows. The Dow Jones industrial average (INDU) gained 240 points, or 3.5%, managing a three days of back-to-back gains for the first time since late January. The S&P 500 (SPX) index gained 29 points, or 4%. The Nasdaq composite (COMP) gained 54 points, or 4%. Although it's too soon to tell where stocks are going to go from here, the rally off the lows is nonetheless encouraging, said Dan Genter, president and CEO at RNC Genter Capital Management.
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"The market is showing us that if we get to radically oversold positions and things get really irrational, there is money out there that people are willing to put to work," he said. The major gauges have been on the rise since the Dow and S&P 500 ended Monday at 12-year lows. Bets that regulators may reinstate a rule that limits short selling and talk that a key accounting rule could be suspended or at least modified helped pace the advance. "We were very oversold through Monday and the market was looking for any kind of excuse to put on a rally," said Mike Stanfield, CEO of VSR Financial Services. "The question is: Will this be the kind of short-term bounce we've seen since the election or will it be something more substantive?" Stanfield said it all depends on the behavior of the financial sector.
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7,170.06 1,426.10 750.74 99 1/32 1 euro = $1.288
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March 12, 2009 4:02 PM ET
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"The market will never get its footing until the financials make a low and hold it," he said. "The market can't be healthy without a healthy financial system." Congress held a hearing Thursday on mark-to-market accounting. Critics say the accounting rule has hurt the bank sector by forcing companies to write down bad assets at firesale prices. Supporters say it provides a clear picture of the assets banks are holding. (Full story) Bernard Madoff: The architect of a multi-billion dollar Ponzi scheme was sent to jail to await sentencing after pleading guilty to 11 charges for one of the biggest swindles in Wall Street history. (Full story)
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GE and GM: Standard & Poor's downgraded GE and GE Capital's long-term credit ratings to AA+ from AAA, with a "stable" outlook. But Wall Street had been speculating that one of the major ratings agencies might issue a downgrade, and the stock had already slumped in anticipation of an announcement. GE shares rallied 12.7% Thursday. General Motors (GM, Fortune 500) said it won't have to take $2 billion in additional federal loans this month because its cost-cutting efforts have improved its cash position. The stock jumped more than 17%. Financials: Bank stocks were mostly higher, with Bank of America (BAC, Fortune 500), Wells Fargo (WFC, Fortune 500), Goldman Sachs (GS, Fortune 500) and Morgan Stanley (MS, Fortune 500) all rising. The KBW Bank (BKW) sector index rose around 11%. The bank sector drove a bigger stock market advance Tuesday after regulators said they may reinstate the "uptick rule" that stops short sellers from driving a floundering stock lower. Critics say the absence of the rule has played a role in the steep selloff of bank stocks this year. Stocks also got a boost Tuesday after Citigroup (C, Fortune 500) cooled some worries about its future by saying it was profitable in the first two months of the year. In other financial news, mortgage lender Freddie Mac, now under federal conservatorship, reported its sixth straight quarterly loss late Wednesday and asked the government for another $30.8 billion. Shares were little changed. Drugmakers: Swiss company Roche Holding said it's buying the remaining 44% of U.S. biotech Genentech it doesn't already own. The $46.8 billion deal ends an almost 8-month battle in which Genentech (DNA) repeatedly spurned Roche's offer. Genentech shares gained 2%. Biotech Gilead Sciences (GILD) said it will buy drugmaker CV Therapeutics (CVTX) for $1.4 billion. CV shares jumped 31.5%, while Gilead shares were little changed. Pfizer (PFE, Fortune 500) said that a late-stage clinical trial of its cancer drug Sutent has been stopped early after the drug produced a significant benefit in patients with a rare form of cancer. Shares of the Dow component jumped 7.5%. Market breadth was positive. On the New York Stock Exchange, winners topped losers by over ten to one on volume of 1.81 billion shares. On the Nasdaq, advancers beat decliners by over 4 to 1 on volume of 2.42 billion shares. Economy: February retail sales fell 0.1% after falling a revised 1.8% the previous month, the
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Commerce Department reported Thursday. Sales were expected to have fallen 0.5%, according to a consensus of economists surveyed by Briefing.com. Sales excluding volatile autos rose 0.7% versus a revised 1.6% in January. Economists thought sales would fall 0.1%. Another government report showed that the number of Americans filing new claims for unemployment last week rose to 654,000 from a revised 645,000 the previous week. The number of Americans continuing to receive benefits rose to a record 5.3 million. A third government report showed that household net worth, the difference between assets and liabilities, fell by $11.2 trillion last year. Friday brings reports on the January trade balance, February import and export prices and the initial March consumer sentiment index from the University of Michigan. Bonds: Treasury prices gained, lowering the yield on the benchmark 10-year note to 2.85% from 2.9% Wednesday. Treasury prices and yields move in opposite directions. Lending rates were little changed. The 3-month Libor rate eased to 1.32% from 1.33%, while the overnight Libor rate held at 0.33%, according to Bloomberg.com. Libor is a bank-to-bank lending rate. Other markets: In global trading, most Asian and European markets ended higher. In currency trading, the dollar fell versus the euro and gained against the yen. U.S. light crude oil for April delivery settled up $4.70 to $45.27 a barrel on the New York Mercantile Exchange, a gain of over 11%. COMEX gold for April delivery rose $13.30 to settle at $924 an ounce.
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Three Days of Green: Dow Soars Above 7000 - FOXBusiness.com
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Matt Egan and Ken Sweet FOXBusiness The Dow surged 240 points and ended above the pivotal 7000 level Thursday as another big rally for banks and new optimism about consumer spending sent Wall Street to its best three-day stretch since late November. Todays Markets The Dow Jones Industrial Average gained 239.66 points, or 3.46%, to 7170.06, the S&P 500 added 29.38 points, or 4.07%, to 750.74 and the Nasdaq Composite Index rose 54.46 points, or 3.97%, to 1426.10. The consumer-friendly FOX 50 picked up 20.26 points, or 3.72%, to 564.71.
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The markets were boosted by a number of positive storylines on Thursday, including relief that General Electric's CathysTeeth.com (GE: 9.53, 0, 0%) credit ratings were cut only one notch, enthusiasm for a better-than-expected retail sales report and new signs of stabilization in commodities as crude soared almost $5. Also, health care stocks rallied around a positive report on a Pfizer (PFE: 14.001, n.a., n.a.%) drug and a mega biotech merger between Roche (RHHBY: undefined, undefined, undefined%) and Genentech (DNA: 93.925, 0, 0%).
The badly-needed good news sent Wall Street to its first three-day win streak since Jan. 28 and the Dow to its first above-7000 close since Feb. 27. The Nasdaq Composite has surged 12.4% over the past three days -- its best performance since Oct. 30. While the markets are still deeply in the red on the year, traders cheered the fact the Dow not only held onto its 379-point jump from Tuesday but has now added to it in a big way, capping off its best three-day performance since Nov. 25. The action has left some wondering if the markets have seen their worst levels, at least for the short term. Im not sure we put in the bottom but we certainly put in a bottom, said Anthony Conroy, head trader at BNY ConvergEx. Still, Conroy said Wall Street is waiting for the housing market to stabilize and banks to get their balance sheets in order. I think the real catalyst will be something coming out of Washington, he said. Michael James, equity trader at Wedbush Morgan Securities, was more cynical, saying: I am still skeptical that this [rally] continues. I am still of the opinion this is a bear market rally. They are violent when they happen. However, he added the fact the market hasn't given back Tuesday's gains is "a pretty encouraging sign." Almost all 30 components of the Dow closed up by at least 1%, led by double-digit gains for GE, Bank of America (BAC: 5.94, n.a., n.a.%) and JPMorgan Chase (JPM: 23.1, n.a., n.a.%). Non-financials like General Motors (GM: 2.14, 0, 0%) and Merck (MRK: 24.04, 0, 0%) also rose sharply. Microsoft (MSFT: 17.01, 0, 0%) was the lone blue-chip stock failing to join in the rally. Banks Rally Around GE The markets responded favorably after Standard & Poor's slashed GE's coveted "AAA" credit rating by one notch, apparently relieved the cut wasn't deeper. The ratings company also said GE's credit rating is "stable," giving hope that another cut isn't in the near-future. GE said it doesn't believe it will suffer from operational or funding challenges due to the cut, which S&P said was due to increased earnings pressure on GE Capital. Financial stocks, which jumped 10% Thursday, were also helped after the Financial Accounting Standards Board pledged to issue a clarification to mark-to-market accounting rules by April 1. The financial industry has asked for the rules to be relaxed as the standards have forced banks to write down the value of billions of dollars of illiquid assets since the credit crisis began. Also, following in the footsteps of Citigroup (C: 1.66, 0, 0%) and JPMorgan, Bank of America CEO Ken Lewis said Thursday his bank was profitable in the first two months of 2009 and that he expects it to remain so for the full year. Retail Data, Oil Lift Markets Wall Street also received a rare boost from economic data, which of late has been almost exclusively gloomy. The Commerce Department said retail sales fell just 0.1% in February despite an onslaught of layoffs and negative consumer sentiment. Economists expected sales to have fallen by 0.4%. Excluding autos, retail sales unexpectedly jumped by 0.7% last month. Shares of retailers like Home Depot (HD: 20.3, 0, 0%) and Macy's (M: 8.31, 0, 0%) rallied on the report, which gives Wall Street hope consumer spending will stabilize. The resiliency shown in February comes even as the government said household net worth plunged by a record 9% in the fourth quarter. Energy stocks provided the markets with a boost as stocks like ExxonMobil (XOM: 67.17, n.a., n.a.%) and Hess (HES: 59.1175, 0, 0%) rose amid oil's strongest rally since Feb. 19. Ahead of a widely-anticipated OPEC meeting, the price of a barrel of crude jumped $4.70 per barrel, or 11.1%, to settle at $47.03. While typically a negative for cash-strapped consumers, market analysts have said a rise in commodities is badly needed. Corporate Movers General Motors (GM: 2.14, 0, 0%) saw its shares soar after the auto maker said it can make it through March without additional bailout money thanks to a slew of costcutting moves. GM previously requested $2 billion in immediate aid, which is still needed just not as quickly as the auto maker originally thought.
http://www.foxbusiness.com/story/markets/futures-slip-jobless-claims-retail-sales/[13-Mar-2009 8:06:55 AM]
Three Days of Green: Dow Soars Above 7000 - FOXBusiness.com Pfizer (PFE: 14.001, n.a., n.a.%) said it stopped a late-stage study on its pancreatic cancer drug Sutent after the drug showed "significant benefit" in patients. Sutent reportedly had worldwide sales of $847 million last year. Roche (RHHBY: undefined, undefined, undefined%) inked a $46.8 billion deal to acquire the 44% of biotech giant Genentech (DNA: 93.925, 0, 0%) it doesn't already own. The deal, which values the world's largest biotech company at $95 per share, ends months of negotiations. Freddie Mac (FRE: 0.395, 0, 0%) reported a $23.9 billion fourth-quarter loss and said it will need an additional $30.8 billion from the Treasury Department. Data Dump New data suggest the labor market continued to deteriorate in the beginning of March. The government said initial jobless claims rose by 9,000 last week to 654,000, which is higher than economists predicted. The Labor Department also said claims filed by those on benefits for more than one week surged by 193,000 to 5.3 million -- the highest level since records began in 1967. Global Markets European markets ended solidly higher Thursday. London's FTSE 100 rose 0.65% to 3717.71, Germany's DAX jumped 1.17% to 3959.74 and Paris's CAC 40 gained 0.71% to 2693.10. Asian markets ended mixed as Japan's Nikkei 225 tumbled 2.41% to 7198.25 but Hong Kong's Hang Seng gained 0.59% to 12001.53.
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http://www.foxbusiness.com/story/markets/futures-slip-jobless-claims-retail-sales/[13-Mar-2009 8:06:55 AM]
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Sensex registers its highest gain in 2009, up by 413 points

Mumbai (PTI): The benchmark Sensex registered its highest gain in the current calendar year, up by a whopping 412.86 points, on the back of all-round buying triggered by stronger global cues despite sustained capital outflows. The Bombay Stock Exchange 30-share Sensex opened firm and remained in positive terrain throughout the session to settle the day at 8,756.61, a rise of 4.95 per cent over the previous close. Prior to this, the Sensex had gained by 492.28 points or 5.37 per cent on December 10, 2008. The broad-based 50-issue Nifty of the National Stock Exchange also improved further by 101.80 points or 3.89 per cent to 2,719.25 from its last close. Besides China and South Korea, other Asian indices ended in the green with a rise between 3.00 per cent and 5.62 per cent. On Wall Street, the Dow Jones Industrial Average climbed by 3.46 per cent and the tech-heavy Nasdaq Composite Index by 3.97 per cent on Thursday. Realty, metal, banking and IT counters were at the forefront while others also registered smart to moderate gains at close.
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http://www.hindu.com/thehindu/holnus/000200903131762.htm[13-Mar-2009 8:23:07 AM]
Sensex makes highest one-day gain in 3 months
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Friday, March 13, 2009
Sensex
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562.20 +21.20
B H E L 1,374.10 +31.75
Sensex makes highest one-day gain in 3 months
Stories in this Section Rains soon for Maharashtra, Andhra Pradesh February halts airlines descent Protectionist tide to slow recovery, says World Bank Invest in infrastructure to combat meltdown Aviation cos leave lease rental exposures unhedged Unilever steps up drive to cut costs at global level
Our Bureau Mumbai, March 13 Sensex on Friday recorded its highest single-day point gain (413 points) in three months, pushed up by short covering and institutional buying. The benchmark index gained almost five per cent from its previous close and ended at 8,756 points. The broader Nifty shot up almost four per cent, closing at 2,719.
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The rebound was largely due to short-covering in the market, said brokers. The discount between Sensex makes highest oneNifty and Nifty Futures was about 17 points in the earlier half of the trading session, but short-covering day gain in 3 months led to Nifty Futures closing at a slight premium. There were also some positives on the international front which led to a rebound in the global markets DTH operators to give 15and Indian markets followed suit, said Mr Mahesh Patil, Co-Head Equity, Birla Sun Life Mutual Fund. day notice for removing channels from package To some extent, the drop in the domestic inflation rate to its seven-year low of 2.43 per cent also Govt asks IPL to rework boosted sentiment, said analysts. schedules Both foreign institutional investors and domestic institutions were net buyers of equity for Rs 300 crore and Rs 393 crore respectively, provisional data on the exchanges showed. But FII gross buying was higher, at more than Rs 2,000 crore. A UK-based hedge fund bought close to Rs 1,000 crore worth of equities, according to a dealer at the Emkay institutional desk. There was also heavy buying by FIIs in auto stocks, he added. The global markets were up as the profit outlook for both JPMorgan Chase and Citigroup was good, said market men. The European markets opened in the green as the Indian markets wound to a close. Britains FTSE was up by 1.74 per cent from its last close. Amongst the Asian markets, the Nikkei was up by 3.97 per cent and the Hang Seng up 4.37 per cent. Amongst the sectoral indices on BSE, all of which ended in green, Realty was up by 7.57 per cent, Metal by 6.26 per cent, Bankex by 5.85 per cent and IT by 5.63 per cent. Investors have started switching over from a defensive portfolio to a slightly high beta portfolio; they have sold FMCG stocks and started buying auto and capital goods stocks, Mr Amitabh Chakraborty, President (Equity), Religare Securities, said. The market breadth was positive, with 1,583 stocks advancing and 854 stocks declining on the BSE. Twenty eight of the Sensex stocks advanced while two fell. But fundamentally there is no major change and one would have to wait and watch to see whether this bounce back is sustainable, said Mr Patil.
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Sensex makes highest one-day gain in 3 months Yesterday Datewise Resources In Focus In Depth Events 2007
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Sensex crosses 9,100 mark on fund-based buying
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Sensex crosses 9,100 mark on fund-based buying
Mumbai, Mar 18 (PTI) The benchmark Sensex spurted by over 255 points to cross another psychological level of 9,100 points at mid-session today on fund-based buying in bluechip stocks led by realty and banking shares. The Bombay Stock Exchange barometer gained 256.64 points at 9,120.46 at 1400 hrs, a level last seen on February 3, 2009. In the opening trade today, the 30-share index breached the 9,000 level following firm Asian markets. The broad-based National Stock Exchange rose by 78.60 points at 2,836.05 points backed by a steep rise in financial company stocks. ICICI Bank and State Bank of India gained after Citigroup said the Reserve Bank of India may cut interest rates in coming months. The 18-member Bankex index gained 3.5 per cent to 4,146.11. The realty stocks were back in demand after a surprisingly strong US housing data for February and easing concerns over world financial markets. PTI
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Sensex up 3.92 per cent
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Sensex up 3.92 per cent on optimism over US stimulus packages

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The Bombay Stock Exchange benchmark Sensex surged 3.92 per cent at midsession on Monday touching a one-month high on optimism that the US stimulus measures would help stabilise markets and restore investor confidence. The Sensex surged by 351.67 points to 9,318.35 at 1330 hrs with heavy-weight Reliance Industries rising 5.08 per cent to Rs 1,406.50, and financial stocks ICICI Bank and Housing Development Finance Corp too going up on improving sentiment in the sector. The 50-share National Stock Exchange index Nifty shot up by 109.95 points, or 3.92 per cent, to 2,817 at the same time, with stocks in sectors like metals, oil and gas, and banking recording handsome gains. Futures on the US Standard & Poors 500 Index climbed 1.4 per cent. The US will outline regulatory changes this week aimed at avoiding a repeat of the financial crisis.
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Crude oil advanced to its highest level in almost four months and copper jumped to its peak since November as the dollar dropped against the euro, bolstering demand for commodities as a hedge against inflation.
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Mumbai, Mar 23 (PTI) The Bombay Stock Exchange benchmark Sensex surged 3.92 per cent at midsession today touching a one-month high on optimism that the US stimulus measures would help stabilise markets and restore investor confidence. The Sensex surged by 351.67 points to 9,318.35 at 1330 hrs with heavy-weight Reliance Industries rising 5.08 per cent to Rs 1,406.50, and financial stocks ICICI Bank and Housing Development Finance Corp too going up on improving sentiment in the sector. The 50-share National Stock Exchange index Nifty shot up by 109.95 points, or 3.92 per cent, to 2,817 at the same time, with stocks in sectors like metals, oil and gas, and banking recording handsome gains. Futures on the US Standard & Poors 500 Index climbed 1.4 per cent. The US will outline regulatory changes this week aimed at avoiding a repeat of the financial crisis. Crude oil advanced to its highest level in almost four months and copper jumped to its peak since November as the dollar dropped against the euro, bolstering demand for commodities as a hedge against inflation. PTI
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Dow jumps almost 500 points

Wall Street posts its best day since November as investors welcome Obama administration plan to buy close to $1 trillion in bad bank assets.
1. Will the banks take the bait? 2. Bonus tax: On second thought ... 3. Dow jumps almost 500 points 4. How to spend $700 billion in 6 months 5. Credit union members: don't panic
NEW YORK (CNNMoney.com) -- Stocks surged Monday, recharging the rally, after Treasury's plan to buy up billions in bad bank assets and a better-than-expected existing home sales report raised hopes that the economy is stabilizing. The Dow Jones industrial average (INDU) gained 497 points, seeing its biggest one-day point gain since Nov. 21. The gain was equivalent to 6.8%, which was the biggest one-day percentage gain since Oct. 28. The S&P 500 (SPX) index rose 54 points, its best one-day point gain since Nov. 13. The percentage gain of 7.1% was the best since Oct. 28. The Nasdaq composite (COMP) added 99 points or 6.8% for the best one-day point and percentage gain since Oct. 28. "I think the stock reaction is a vote of confidence in the plan," said Jack Ablin, chief investment officer at Harris Private Bank. He said the stock market is also reacting well because the plan is skewed in favor of the private investor, who only has to be responsible for around 7% of the total in any transaction. But other analysts were less sanguine. "The plan is a rehash of what we've seen before and it still doesn't resolve the issue of how to value the bad assets," said Stephen Leeb, president at Leeb Capital Management. "There's a lot of cash on the sidelines, there's a real wish to believe that this is a solution and there has been some good news on the economy lately," he said. "All of that is contributing to a rally as well."
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http://money.cnn.com/2009/03/23/markets/markets_newyork/index.htm?postversion=2009032312[23-Mar-2009 6:14:08 PM]
Stocks have gained for the past two weeks, despite tumbling last Thursday and Friday. But that retreat gave investors an opportunity to jump back in Monday, with bank shares leading the advance. Since tumbling to 12-year lows two weeks ago, the S&P 500 has now rallied 18% as of Monday's close, blasting through 800, a key resistance level that analysts have been watching. Tuesday brings more news from Washington. Federal Reserve Chairman Ben Bernanke and Treasury Secretary Tim Geithner are expected to testify at a House Financial Services Committee hearing on AIG, due to begin at around 10:00 a.m. ET. Sheila Bair, Chairman of the Federal Deposit Insurance Corp, is due to testify at a Senate Banking Committee hearing on bank regulation, also scheduled for the morning. President Obama is due to deliver a televised address during prime time. Bad-asset plan: On Monday, Treasury rolled out its longawaited plan to purge bank balance sheets of as much as $1 trillion in sour assets that are limiting lending and prolonging the recession. The government will commit $75 billion to $100 billion of taxpayer money to launch the "Public-Private Investment Program," which seeks to create a market for that bad debt. The government plans to run auctions between the banks looking to unload the bad assets - such as subprime mortgages - and the investors looking to buy them. The Federal Reserve and the Federal Deposit Insurance Corp. will be involved.
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Economists have said that stabilizing the banking system is key to stabilizing the economy. "Between the Fed announcement last week and the Treasury program this week, there are some tangible steps the government is taking and that is going to give the market the potential to keep moving higher," Ablin said. Last week, the Federal Reserve announced it was pumping another trillion into the economy to try to get credit flowing. Leeb said the market may be betting that if the Treasury plan leads into a brick wall, there's always the Federal Reserve to come in and expand its program. Economy: Existing home sales rose 5.1% in February, according to the National Association of Realtors. Sales rose at a seasonally-adjusted 4.72 million unit annual rate versus a 4.49 million unit annual rate in January. Economists surveyed by Briefing.com expected sales to dip to a 4.45 million unit rate. Company news: Financial shares led the advance. American Express gained almost 19%, Citigroup (C, Fortune 500) jumped 19.5%, JPMorgan Chase (JPM, Fortune 500) gained Bank of America (BAC, Fortune 500) jumped 26% and Wells Fargo (WFC, Fortune 500) gained 24%. The KBW Bank (BKX) index gained 18.6%.
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The gains were broad based, with all 30 Dow components rising. Other big gainers included Alcoa (AA, Fortune 500), Caterpillar (CAT, Fortune 500), General Electric (GE, Fortune 500), Boeing (BA, Fortune 500) and Walt Disney (DIS, Fortune 500). Suncor Energy (SU), Canada's No. 2 oil company, said it will buy rival Petro-Canada (PCZ) for $14.86 billion to create the country's biggest energy company. Suncor shares lost 1.8% and Petro shares gained 23%. In other deal news, an Abu Dhabi fund, Aabar Investments, bought a 9.1% stake in German carmaker Daimler in a $2.67 billion deal announced late Sunday. Market breadth was positive. On the New York Stock Exchange, winners beat losers by over 8 to 1 on volume of almost 1 billion shares. On the Nasdaq, advancers topped decliners four to one on volume of 1.5 billion shares.
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Bonds: Treasury prices dipped, raising the yield on the benchmark 10-year note to 2.64%, up from 2.63% late Friday. Treasury prices and yields move in opposite directions. Lending rates were little changed. The 3-month Libor rate held steady at 1.22%, unchanged from late Friday, while the overnight Libor rate rose to 0.29% from 0.28% Friday, according to Bloomberg.com. Libor is a bank-to-bank lending rate. Other markets: In global trading, Asian and European markets rallied. In currency trading, the dollar gained versus the euro and the yen. U.S. light crude oil for May delivery gained $1.73 to settle at $53.80 a barrel on the New York Mercantile Exchange. COMEX gold for May delivery fell $3.60 to settle at 953.80 an ounce.
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'Bad Bank' Buying Binge: Dow Soars 497 - FOXBusiness.com
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Matt Egan FOXBusiness The Dow surged nearly 500 points on Monday -- its biggest one-day gain since November -- after the Treasury Department removed a huge cloud of uncertainty hanging over Wall Street by revealing new details about its bank rescue plan. Lifted by clarity on how the government will help banks get rid of up to $1 trillion of their toxic assets and an unexpected jump in existing home sales, the markets ended at their highest levels in more than a month. Today's Markets The Dow Jones Industrial Average rose 497.48 points, or 6.84%, to 7775.86, the S&P 500 gained 54.38 points, or 7.08%, to 822.92 and the Nasdaq Composite Index picked up 98.50 points, or 6.76%, to 1555.77. The consumerfriendly FOX 50 added 39.73 points, or 6.90%, to 615.21. Monday's massive rally represents the fifth-largest point gain in the history of the Dow. However, on a percentage basis, the rally ranks as the 20th best one-day jump in the index's history. Either way, Monday's performance was a key landmark in what has been a very bullish March on Wall Street. The market definitely likes what its hearing. Its taking the uncertainty out of the equation, Dave Rovelli, managing director of Canaccord Adams, told FOX Business. Aside from new details about Treasury Secretary Timothy Geithner's "bad bank" rescue plan, the markets rallied around a better-than-expected housing report, positive earnings reports from Tiffany (TIF: 23.361, 3.081, 15.19%) and Walgreen and a $14.9 billion merger between Suncor Energy (SU: 24.73, -0.49, -1.94%) and PetroCanada (PCA: 9.8, 0.588, 6.38%). But it's clear the markets were mostly focused on the Geithner plan. There is a shift in tone and temperament in the market that speaks to confidence in the plan being proposed by Geithner to price and dispose of toxic assets, said Peter Kenny, managing director at Knight Capital Group. Pointing to a six-day win streak in Asia and another big rally in Europe, Kenny said the foreign markets have been voting unequivocally yes on this plan.
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All 30 components of the Dow closed up by more than 2%, led by double-digit rallies for Citigroup (C: 3.15, 0.571, 22.14%), Bank of America (BAC: 7.8616, 1.6916, 27.42%) and JPMorgan Chase (JPM: 29.139, 5.949, 25.65%). Non-financials like Alcoa (AA: 7.3601, 0.7921, 12.06%) and Caterpillar (CAT: 29.6, 2.541, 9.39%) also rose sharply. How Long Will It Last? Its clear the markets are in the midst of a huge bounce from their worst levels as the Dow, which is still down 11% year-to-date, has surged 19% from its 12-year low set on March 9. What remains less clear is how long the rally will last and whether or not the worst of the selling is over. The market is going to have to prove itself to a lot of people before they come screaming back in. People have been burned so deeply, said Scott Martin, managing director at Astor Asset Management. Other than a few bright spots, I don't think the economic data has shown any signs of putting in a bottom. The recent hot streak has been fueled by a number of key developments, including a string of positive comments from bank execs, the Federal Reserves decision to expand its balance sheet by up to $1.1 trillion and a stock market that many said was badly oversold. From a technical standpoint, Mondays rally was important as the S&P closed well above the key 800 level. Kenny predicted breaking through this resistance level could allow the index to jump another 5% to 10%. Ironically, Mondays surge exceeded the Dows 494-point jump on Nov. 21, a rally fueled by news that Geithner was going to be named Treasury secretary. Rescue Rally The financial sector surged 16.4% on the Treasury plan and individual names like Morgan Stanley (MS: 24.593, 4.363, 21.57%) and PNC Financial (PNC: 32.84, 6.04, 22.54%) saw even heavier buying. While Geithner previously unveiled the principles of the bank rescue plan, a lack of specifics during the initial announcement slammed the markets, sending the Dow and S&P to 12-year lows. Mr. Geithner showed up with more than the emperors clothes. We like what we saw, NYSE trader Ben Willis of VDM Institutional Brokerage told FOX Business. The Treasury said Monday it will leverage $75 billion to $100 billion of TARP funds to partner with private equity and hedge funds to buy up to $1 trillion of the assets at the center of the credit crisis. Banks have been reluctant to lend and forced to write down the value of these illiquid, mortgage-backed assets, which have lost value as the
http://www.foxbusiness.com/story/markets/futures-climb-ahead-treasury-plan/[23-Mar-2009 6:17:00 PM]
'Bad Bank' Buying Binge: Dow Soars 497 - FOXBusiness.com housing market has deteriorated. Click here to read more on the Treasury plan It remains to be seen if the rescue will work as its not clear if the private sector will want to participate, but the bad bank plan received a major endorsement from Bill Gross, the manager of the worlds largest bond fund. This is perhaps the first win/win/win policy to be put on the table and it should be welcomed enthusiastically, the Pimco manager told Reuters. M&A, Home Sales Boost Stocks Wall Street also cheered another sign of an improving M&A picture. In a move that will create the largest Canadian oil company, Suncor Energy (SU: 24.73, -0.49, 1.94%) inked a deal Monday to buy rival Petro-Canada (PCA: 9.8, 0.588, 6.38%) in an all-stock deal worth $15.5 billion. Stocks received a mid-morning boost after the National Association of Realtors said existing home sales unexpectedly jumped by 5.1% last month. The industry group said home prices suffered their second worst year-over-year drop in history, falling 15.5% from 2008, though they rose slightly from January. Home builders like Hovnanian (HOV: 1.46, 0.13, 9.77%) and KB Home (KBH: 12.99, 1.73, 15.36%) rallied around the report, which widely beat the Street's expectations. In the commodities markets, crude oil built on last week's huge rally, which was its fifth straight weekly gain. The price of a barrel of crude settled at $53.80, up $1.73 on the day. Gold was off by $3.60 per ounce to $953.80. Corporate Movers General Electric (GE: 10.45, 0.95, 10%) lost its coveted AAA credit rating from Moodys, which cited the conglomerates troubled GE Capital arm. However, the move was largely expected as S&P already downgraded GE and Moodys maintained a stable outlook on GE. Goldman Sachs (GS: 111.345, 13.996, 14.38%) could raise more than $1 billion by divesting 15% to 20% of its stake in Chinese bank ICBC, the Journal reported. Tiffany (TIF: 23.361, 3.081, 15.19%) beat the Street with an adjusted-profit of 85 cents per share even as its sales tumbled 20%. The upscale jewelers forecast for 2009 earnings was below the Streets view. General Motors (GM: 3.37, 0.3695, 12.31%) bondholders sent the White House a letter complaining the auto makers restructuring relies on a too rosy economic outlook and could still result in it filing for bankruptcy. Daimler (DAI: 30.18, 1.65, 5.78%) received a $2.67 billion cash injection from Aabar Investments that will improve the German auto makers balance sheet and make the Abu Dhabi fund its largest shareholder. American International Groups (AIG: 1.5, 0.27, 21.95%) rivals complained to the Fed about the bailed-out insurers pricing practices, saying AIG used its government rescue to unfairly tilt the playing field, the Journal reported. Nycomed , a private Swiss drug maker, hired Goldman Sachs (GS: 111.345, 13.996, 14.38%) to explore a sale that could be worth as much as 10 billion euros, the Journal reported. Walgreen (WAG: 26.6, 2.31, 9.51%) exceeded expectations with an adjusted-profit of 69 cents per share thanks to a 4% boost in prescriptions. Time Warner (TWX: 8.61, 0.74, 9.4%) unveiled plans to take a 31% stake in Central European Media Enterprises (CETV: 14.5, 4.5, 45%), sending shares of the European broadcaster surging. The deal is worth $241.5 million. World Markets European markets stayed hot as London's FTSE 100 ended in the green for the third straight day, picking up 2.86% to end at 3952.81. Germany's DAX extended its win streak to four, rising 2.65% to 4176.37. In Asia, Japan's Nikkei 225 jumped 3.39% to 8215.53 while Hong Kong's Hang Seng gained 4.78% to 13447.42. China's Shanghai Composite rallied for the sixth straight day, rising 1.95% to 2325.48.
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MUMBAI: The Bombay Stock Exchange sensitive index, Sensex, ended at a five-week high of 9424.02 on Monday, registering the biggest single-day gain of 457.34 since December 10, 2008. The 30-share barometer rose by 5.10 per cent from last Fridays close of 8966.68. Brokers said the market was driven higher by strong global cues amid expectations of a fresh set of monetary measures as foreign funds covered short positions ahead of the expiry of derivatives contracts on March 26, and also bought shares in the cash segment. Similarly, the National Stock Exchanges 50-share Nifty jumped by 132.85 points and closed at 2939.90. Sentiment remained strong throughout in sync with firm Asian and European markets. Asian indices ended higher by 2.5-5 per cent while European markets were up by 1-2 per cent in morning trading. The rally in global stocks was largely attributed to a surprise decision by the U.S. Federal Reserve to pump in over $1.25 trillion into the financial system, which is expected to help revive the US economy. Foreign institutional investors (FIIs) have now been in a buying mode and made purchases of more than Rs. 1,100 crore in five days till March 19. Reliance Industries, which has the highest weight in the Sensex, gained 7.56 per cent. Banks, oil and gas and the metal sector hogged the limelight. While the banking sector was in demand on expectations of good growth in lending on
http://publication.samachar.com/...ess/business.php&homeurl=http://business.samachar.com&nextids=3904505|3904506|3904507|3904508|262738&nextIndex=4[23-Mar-2009 6:53:58 PM]
Sensex zooms 457 points

lower interest rates, metal stocks surged on the back of a rally in LME metal prices. Other major gainers included Ranbaxy Laboratories (10.80 per cent), Tata Steel (10.39 per cent), Reliance Infra (9.88 per cent), Hindalco (9.35 per cent), HDFC (8.44 per cent), ICICI Bank (7.36 per cent), SBI (7.33 per cent), Reliance Communication (6.19 per cent) HDFC Bank (5.60 per cent) and ONGC (5.35 per cent). Realty major DLF, however, fell by 2.16 per cent. PTI Printer friendly page Send this article to Friends by E-Mail
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http://publication.samachar.com/...ess/business.php&homeurl=http://business.samachar.com&nextids=3904505|3904506|3904507|3904508|262738&nextIndex=4[23-Mar-2009 6:53:58 PM]
Sensex completes 3-session winning streak, up by 197 pts
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Sensex completes 3-session winning streak, up by 197 pts
Mumbai, Mar 25 (PTI) Stocks advanced for the third day in a row to close at a two-and-half month high of 9,667.90 points, fuelled by a rally in market heavy Reliance Industries and Infosys, besides real estate, metal and banking counters. The Bombay Stock Exchange 30-share bellwether index gained 196.86 points or 2.08 per cent to settle at the level last seen on January 6. The 50-share index Nifty of the National Stock Exchange also rose by 45.65 points or 1.55 per cent to 2,984.35 from its last close. Asian shares ended mixed today as investors paused to assess whether a US plan to deal with bank's toxic debt would revive the financial system. However, European markets resumed firm but surrendered its initial gains and were quoting nearly flat in late morning deals. Foreign Institutional Investors (FIIs) continued their buying spree and they pumped Rs 501.76 crore on March 24 while Domestic Institutional Investors (DIIs) sold shares worth Rs 192.99 crore on the same day as per provisional data. Market participants are now looking at the outcome of the coming general elections. PTI
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http://publication.samachar.com/...ss/business.php&homeurl=http://business.samachar.com&nextids=3916805|3916806|3916807|3916808|3916809&nextIndex=2[25-Mar-2009 1:27:14 PM]
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1. Great Recession or a new Depression? 2. Treasury set to reveal top reforms 3. Wall Street manages gains 4. Student freezes assets of Madoff's brother 5. Betting on a housing recovery
NEW YORK (CNNMoney.com) -- Stocks gained Wednesday, mustering up a late-session rally after a choppy session that helped push the S&P 500's two-week gains to 20%. The Dow Jones industrial average (INDU) rose 90 points, or 1.2%. The S&P 500 (SPX) index rose 7 points, or 0.9%. The Nasdaq composite (COMP) rose 12 points, or 0.8%. Stocks spiked in the morning on better-than-expected readings on new home sales and durable goods orders, but the advance sputtered out through most of the afternoon. A late-session jump in financial stocks and tech shares helped markets finish higher. Joseph Saluzzi, co-head of equity trading at Themis Trading, said that the market is having trouble as it is bumping up against some key resistance levels around 820 or 825. He said that the perception of a weak 5-year Treasury auction was also having an impact Wednesday. Stocks have bounced 20% since March 9th, when the Dow and S&P 500 hit roughly 12-year lows. Equities have been rallying on optimism that the economy and financial markets are getting closer to stabilizing. In addition, many stocks have been hammered so heavily as to make them attractive to investors again. But that advance has been losing steam, particularly after Monday's spike of roughly 7% for the major stock gauges, said Christopher Colarik, portfolio manager at Glendmede. "There's meaning behind the rally,and I do think we've seen the lows, but the bottoming process is going to take time," he said. Thursday preview: The House Financial Services
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http://money.cnn.com/2009/03/25/markets/markets_newyork/index.htm?postversion=2009032517[26-Mar-2009 12:16:59 AM]
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Economic reports include readings on weekly jobless claims and gross domestic product growth. The number of Americans filing new claims for unemployment is expected to have risen to 650,000 from 646,000 the previous week, economists estimate. Continuing claims, a measure of people who have been receiving unemployment for a week or more, will also be in focus. Last week, continuing claims hit an all-time high of 5.473 million. Fourth-quarter GDP is expected to have shrunk by a 6.6% annual rate versus the previous reading of a 6.2% rate. The 6.2% rate was a 26-year low. Best Buy (BBY, Fortune 500) and homebuilder Lennar (LEN, Fortune 500) report quarterly results before the start of trading. Bank focus: Stocks overall followed financials, with the broad market retreating in the afternoon along with bank stocks and recharging in the late afternoon as the sector found its footing. "We're again being led by the financials," Themis Trading's Saluzzi said. "If they break down, the market breaks down." Bank of America (BAC, Fortune 500), JPMorgan Chase (JPM, Fortune 500) and Wells Fargo (WFC, Fortune 500) ended higher after a shaky afternoon. Citigroup (C, Fortune 500) cut some losses. The KBW Bank (BKX) sector index rose 5%, erasing a drop of over 5%.
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Market breadth was positive. On the New York Stock Exchange, winners beat losers seven to three on volume of 1.77 billion shares. On the Nasdaq, advancers topped decliners by over two to one on volume of 2.5 billion shares. Economy: A pair of better-than-expected economic reports added to optimism that the economy is getting closer to stabilizing. February new home sales rose at an annual unit rate of 337,000 versus a revised 322,000 in the previous month. Sales were expected to rise at a 300,000 unit annual rate, according to a consensus of forecasts from Briefing.com. An earlier report showed that durable goods orders rose 3.4% in February after falling 5.2% in the previous month. Economists surveyed by Briefing.com thought orders would fall 2.5%. Durable goods orders excluding transportation rose 3.9% after falling 5.9% in January. Economists thought they would fall 2%. Also, a report from the UCLA Anderson School of Management showed that real domestic product growth is on track to see quarterly growth in 2010 and 2011, although not in 2009. Washington: On Tuesday, Federal Reserve Chairman Ben Bernanke and Secretary Geithner testified about the government's $180 billion bailout of American International Group. They said

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AIG (AIG, Fortune 500) demonstrates the need for the government to have broader power over non-bank financial institutions. Geithner again made his case for broader powers to regulate flailing companies on Wednesday. In a speech in New York, the Treasury Secretary said that the country should never again have to provide a massive bailout or risk seeing a collapse of the financial system. President Obama, in a primetime news conference Tuesday, said that it is because of a lack of authority that the AIG situation has gotten worse. Obama also defended his $3.6 trillion 2010 federal budget, which he said is "inseparable" from the overall strategy for economic recovery. Congressional committees began debating the budget Wednesday, with a final budget not expected until at least next fall. On Monday, Treasury introduced its plan to purge bank balance sheets of up to $1 trillion in bad assets that are limiting lending and prolonging the recession.
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Bonds: Treasury prices tumbled, raising the yield on the benchmark 10-year note to 2.79% from 2.70% Tuesday. Treasury prices and yields move in opposite directions. Lending rates were unchanged. The 3-month Libor rate held steady at 1.23%, where it stood Monday, while the overnight Libor rate held steady at 0.29%, according to Bloomberg.com. Libor is a bank-to-bank lending rate. Last week, the Federal Reserve announced it was pumping another trillion into the economy to try to get credit flowing, including $300 billion to buy long-term Treasurys. The N.Y. Fed Bank began buying the securities Wednesday. Other markets: In global trading, Asian markets ended lower and European markets ended higher. In currency trading, the dollar fell against the euro and the yen, recovering from bigger morning losses following comments from Treasury Secretary Geithner. U.S. light crude oil for May delivery fell $1.21 to settle at $52.77 a barrel. COMEX gold for May delivery rose $12 to settle at $936.70 an ounce.
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The bellwether Sensex soared by 335 points to regain the 10,000 level after nearly 11 weeks as bulls tightened their grip on hectic short-coverings on the day the March settlement in derivatives was over. Marketmen said the mood is now steadily turning in favour of bulls on the back of positive developments. Extending the rally to the fourth straight day, the Bombay Stock Exchange 30-share barometer gained 335.20 points or 3.47 per cent to settle the day at 10,003.10, the level not seen since the first week of January. The Sensex has jumped by a whopping 1,036.42 points or 11.56 per cent in the four-day rally. Similarly, the National Stock Exchange's 50-share Nifty finished above 3,000 at 3,082.25, a net rise of 97.90 points or 3.28 per cent from the previous close.
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In the Sensex pack, Tata Motors spurted by 7.94 per cent, L&T by 6.10 per cent, Sterlite Ind by 5.97 per cent, TCS by 5.94 per cent, BHEL by 5.85 per cent, Tata Power by 5.57 per cent, ONGC by 5.36 per cent, Maruti Suzuki by 5.07 per cent, Wipro by 5.03 per cent and Tata Steel by 5.00 per cent. Sustained buying by foreign institutional investors (FIIs), which pumped in Rs 348.65 crore on March 25 as per provisional data, mainly boosted sentiment.
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Recharging the rally

Stocks surge, as the March market run shows its legs.
1. Obama tax panel on a treasure hunt 2. Layoffs hit Google: 200 cuts 3. Recharging the rally 4. Congress wants new AIG bailout probe
NEW YORK (CNNMoney.com) -- Stocks surged Thursday, extending the rally that has propelled the major gauges up more than 20% each in just 2-1/2 weeks. The Dow Jones industrial average (INDU) rose 175 points, or 2.3%, and the S&P 500 (SPX) index rose 18 points, or 2.3%. The Nasdaq composite (COMP) rose 58 points, or 3.8%, and closed in positive territory for the year.
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Layoffs hit Google: 200 jobs cut Washington Post, New York Times cut costs Does Wall Street need bonuses now? U.S. cities reel from store closings Foreclosure prevention: Don't get
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scammed The advance was broad based, with 28 out of 30 Dow issues climbing, led by General Motors (GM, Fortune 500), Alcoa Quick Vote (AA, Fortune 500), Hewlett-Packard (HPQ, Fortune 500), Microsoft (MSFT, Fortune 500), Intel (INTC, Fortune 500) At what point will the Dow be at the end of June? and American Express (AXP, Fortune 500). But other big bank stocks slipped, with the influential financial sector flat on Above 8,000 the session. About the level it is now
Below 7,000
Best Buy (BBY, Fortune 500)'s better-than-expected earnings report fired up the retail sector. Since the Dow and S&P 500 fell to 12-year lows on March 9, stocks have been on a tear. As of Thursday's close, the Dow is up 21%, the S&P 500 is up 23% and the Nasdaq is up 25%. But only the Nasdaq is up slightly year-to-date and the Dow and S&P 500 remain below early-February levels. "The million dollar question is 'Is this real?,'" Kenny Landgraf, principal and founder at Kenjol Capital Management said. "From a technical standpoint, there are buyers coming into the market, so you have the army behind you, which is good." He said that the recent spate of less- terrible-than-expected economic news was also hopeful, including Wednesday's better-than-expected readings on durable goods orders and new home sales. Investors have also reacted well to the latest government attempts to stabilize the banks.
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7,924.56 1,587.00 832.86 100 4/32 1 euro = $1.356
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March 26, 2009 4:03 PM ET
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"At some point, people decide it's time to put money back to work," he said. "But there's still a sense of not wanting to get tricked again after last fall." Stocks supposedly hit bottom twice before in the current bear market, in both November and October. But Wall Street ended up giving back all the gains accrued following those bottoms and moving even lower. "This is a bear market rally, not something more," said Drew Kanaly, chairman and CEO at Kanaly Trust. "In bear markets, 25% or 50% rallies are not unheard of and investors should use this as an opportunity to raise more cash." He said that the recent economic news has only been better because year-ago results were "pathetic." Friday's main news item is the February reading on income and spending. Personal income is expected to have fallen 0.1% after rising 0.4% in the previous month, according to economists surveyed by Briefing.com. Personal spending is expected to have risen 0.3% after climbing 0.6% in the previous month. The revised reading on consumer sentiment from the University of Michigan is also due.
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Washington: Treasury Secretary Tim Geithner outlined a JustClickLocal.com massive overhaul of the regulatory system in the wake of the financial meltdown of the last 18 months. Speaking before the Double Your Money Now House Financial Services Committee, he said the changes Get Your Free Report: Make Money on the Short Side of the Stock Market are needed to repair a system that has "proved too unstable www.investorplace.com and fragile."
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Changes include having a single regulator oversee the biggest financial firms and requiring large hedge funds to register with the Securities and Exchange Commission. Any such changes need Congressional approval. (Full story) Earlier in the week Geithner and Federal Reserve Chairman Ben Bernanke made the case for broader powers to regulate non-bank financial institutions like insurer AIG (AIG, Fortune 500). On Monday, Treasury introduced its plan to purge bank balance sheets of up to $1 trillion in bad assets that are limiting lending and prolonging the recession. Company news: Best Buy (BBY, Fortune 500) reported a 23% drop in fiscal fourth-quarter earnings versus a year earlier. Excluding charges, the retailer earned $1.61 per share, versus economists' forecasts for $1.40 per share. The company also forecast full-year earnings in a range of $2.50 to $2.90 per share versus estimates for a gain of $2.45 per share. Shares rallied 13%. General Motors (GM, Fortune 500) said that 7,500 union workers, or 12% of its U.S. factory workforce, took its latest buyout offer as it continues to cut costs in an effort to gain additional federal aid money. GM gained 14%. Google (GOOG, Fortune 500) said it was cutting just under 200 positions worldwide, with the cuts coming in its sales and marketing divisions. It is only the Internet behemoth's second round of layoffs in its history.

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Market breadth was positive. On the New York Stock Exchange, winners beat losers almost four to one on volume of 1.81 billion shares. On the Nasdaq, advancers topped decliners by over four to one on volume of 2.65 billion shares. Economy: The number of Americans filing new claims for unemployment rose to 652,000 from a revised 644,000 the prior week. Economists surveyed by Briefing.com thought sales would have risen to 650,000. Continuing claims, a measure of people who have been receiving unemployment for a week or more, rose to an all-time high of 5.56 million. Fourth-quarter GDP shrank at an annual rate of 6.3% in the fourth quarter of last year, versus an earlier reading of 6.2%. The decline was a 26-year low. Economists thought GDP would shrink by a 6.6% annual rate.
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Bonds: Treasury prices rose, lowering the yield on the benchmark 10-year note to 2.73% from 2.79% Wednesday. Treasury prices and yields move in opposite directions. Both stock and bond investors were also reacting positively to the conclusion of a 7-year Treasury note auction, which was seen as showing good demand. This was a relief after a 5-year note auction Wednesday was seen as being a bit on the weak side. Lending rates were unchanged. The 3-month Libor rate held steady at 1.23%, where it stood Wednesday, while the overnight Libor rate held steady at 0.29%, according to Bloomberg.com. Libor is a bank-to-bank lending rate. Other markets: In global trading, Asian and European markets both ended higher. In currency trading, the dollar gained against the euro and the yen. U.S. light crude oil for May delivery rose $1.57 to settle at $54.34 a barrel. COMEX gold for May delivery fell $1.70 to settle at $940.90 an ounce.
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CNNMoney.com Market Report - Apr. 9, 2009
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Big rally on Wall Street

Wells Fargo's surprisingly upbeat forecast gives stocks a boost. Market gains for fifth straight week.
By Alexandra Twin, CNNMoney.com senior writer Last Updated: April 9, 2009: 6:12 PM ET EMAIL | PRINT | SHARE | RSS
1. Detroit: A homebuyer's paradise? 2. Big rally on Wall Street 3. Wells Fargo predicts $3 billion profit 4. Treasury asks banks to be mum on "stress tests" 5. Happy days are here again? Really?
NEW YORK (CNNMoney.com) -- Stocks rallied Thursday, ending a holiday-shortened week on a high note after Wells Fargo forecast a nearly $3 billion quarterly profit, adding to hopes that the banking sector is stabilizing. It was the fifth straight week of gains for the markets. In that time the Dow rose 22%, for its best five-week run since May of 1933, when it gained 31%. The Dow Jones industrial average (INDU) gained 246 points, or 3.1%. The S&P 500 (SPX) index rose 31 points, or 3.8%. The Nasdaq composite (COMP) gained 62 points, or 3.9%. Stocks rallied Wednesday as a housing-sector merger and optimism about the recovery overshadowed the Fed's dour economic forecast. On Thursday the advance continued, although on lighter trading volume due to the holidays. Thursday is Passover and all financial markets will be closed on Good Friday. "I think a lot of investors have been waiting for good news around the banks," said Tyler Vernon, portfolio manager at Biltmore Capital. "They've been getting good news from the government on the banks, but hearing this from Wells Fargo was unexpected." At the same time, Vernon said he's concerned that the recent rally has been too much, too fast, and that individual investors are getting in at the wrong time. Stocks have essentially been on a tear since the Dow and S&P 500 hit 12-year lows on March 9. After initially being driven by traders, hedge funds and other professional market makers, the recent advance has seen individuals jumping back in.
ROAD TO RESCUE
Treasury asks banks to be mum on "stress tests" Big rally on Wall Street Obama, regulators to review 'stress tests' Initial jobless claims dip Wells Fargo predicts a $3 billion profit
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8,083.38 1,652.54 856.56 98 17/32 1 euro = $1.314
Change
246.27 / 3.14% 61.88 / 3.89% 31.40 / 3.81% Yield: 2.92% -0.002
April 9, 2009 4:03 PM ET
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For the last two weeks, investors have put money into equity mutual funds, according to Trim Tabs, after weeks of pulling money out of funds. In the week ended Wed. April 8, investors put $11.9 billion into stock mutual funds after adding $3 billion in the previous week. And the CBOE volatility index, or the VIX (VIX), Wall Street's fear measure, closed Thursday at its lowest point since late September. Financials: San-Francisco-based Wells Fargo (WFC, Fortune 500) said it expects to report income of about $3 billion, or 55 cents per share, in the first quarter, surpassing analysts' current estimates. The bank said the strong quarter was due to the performance of its traditional banking and mortgage units, as well as the continued benefits from its purchase of Wachovia. Wells' shares jumped 31.7%. A variety of financial shares surged in tandem, including Citigroup (C, Fortune 500), Bank of America (BAC, Fortune 500), JPMorgan Chase (JPM, Fortune 500) and Morgan Stanley (MS, Fortune 500). The KBW Bank (BKX) sector index gained 20%. In other news, U.K. bank Barclays (BCS) said it will sell its U.S.-based asset management business to European private equity firm CVC Capital Partners Group in a deal worth $4.4 billion. U.S.-traded shares of Barclays gained 11%. Retailers: March sales at the nation's retailers slumped 1.8%, versus expectations for a drop of 0.9%. The results were something of a setback following an improvement in February, when sales rose 0.3%. Many retailers blamed the weaker sales on the later Easter this year - with the holiday falling on April 12 versus March 23 last year.
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Leading retailer Wal-Mart Stores (WMT, Fortune 500) reported a 1.4% rise in sales at stores open a year or more, a www.Scottrade.com retail sector metric known as same-store sales. But that was The Most $100K+ Jobs short of the 3.2% rise analysts were expecting. (Full story) Wal-Mart lost 3.7% and was one of only 4 Dow stocks not participating in Thursday's advance.
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Other company news: Warren Buffett's Berkshire Hathaway (BRKA, Fortune 500) lost its top credit rating at Moody's. The agency cut the rating on Buffett's diversified company by two notches, saying the recession and the company's investment losses were making it harder for Berkshire to meet its funding needs. Dow component 3M (MMM, Fortune 500) is offering 3,600 employees, or around 11% of its workforce, early retirement packages, as it contends with the ongoing recession. The company, often seen as a proxy for the economy due to its varied businesses, has already cut 3,600 jobs this year. Market breadth was negative. On the New York Stock Exchange, winners beat losers by more than seven to one on volume of 1.84 billion shares. On the Nasdaq, advancers topped decliners
four to one on volume of 2.19 billion shares.

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Life in the pits
Economy: Two government reports were released Thursday. The February trade gap shrank 28.3%, falling to its smallest level since November 1999. The weekly jobless claims report showed the number of people filing new claims for unemployment dipped to 654,000 from 674,000 the previous week. But the number of people who have been receiving benefits for a week or more rose to an all-time high of 5.84 million. Bonds: Treasury prices tumbled, raising the yield on the benchmark 10-year note to 2.92% from 2.88% Wednesday. Treasury prices and yields move in opposite directions. Other markets: In global trading, Asian and European markets gained. In currency trading, the dollar gained versus the euro and the yen. U.S. light crude oil for May delivery settled up $2.86 to $52.24 a barrel on the New York Mercantile Exchange. COMEX gold for June delivery fell $2.60 to settle at $883.30 an ounce.
First Published: April 9, 2009: 12:49 PM ET
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Sensex ends 318 points up as markets turn stronger
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Sensex ends 318 points up as markets turn stronger
Mumbai, Apr 15 (PTI) Overcoming initial pressure, the Bombay Stock Exchange 30-share Sensex surged by 318 points to end at a six-month high of 11,284.63 today on revival of buying support. Initially, the market touched a low of 10,719.18 as IT bellwether Infosys Technologies this morning came out with a discouraging forecast for the current year. Today's rally for the Sensex being for the eighth day in a row, the index registered a net gain of 317.51 points or 2.90 per cent over its previous close. The National Stock Exchange's 50-share Nifty also firmed up by 101.55 points or 3.00 per cent to close at 3,484.15 from its last close. Brokers said sustained net purchases by foreign funds and expectations of further monetary steps by the Reserve Bank of India also boosted market sentiment later in the day. Foreign institutional investors (FIIs) pumped in more than Rs 580 crore in equity on Monday, as per provisional figures. They attributed the early setback to a 1.71 per cent dip in the fourth-quarter earnings of Infosys over the previous quarter, which negatively impacted IT stocks during the day. Infosys Tech was down by 2.72 per cent at close. PTI
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Sensex on a roll, hits six-month high of 11,329
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Sensex on a roll, hits six-month high of 11,329
Mumbai, Apr 25 (PTI) The market sustained its weekly gaining streak for the seventh straight week as the benchmark Sensex settled at a six-month high of 11,329.05 at the weekend on several positive developments amid on-going Parliamentary elections in the country. Passing through a bearish mode in the initial three days, the signs of improvement in economy and a fresh rate cut by Reserve Bank on April 21 with inflation ruling virtually at zero level boosted the market sentiment after midweek. In the week to April 25, the Bombay Stock Exchange 30-share barometer bounced from its weekly low of 10,715.66 and ended with a net gain of 305.96 points, or 2.78 per cent, over its last weekend's close. Similarly, the National Stock Exchange 50-share Nifty also jumped by 96.35 points, or 2.85 per cent, to end the week at 3,480.75 from its last close. Brokers said Foreign Institutional Investors (FIIs) remained the net buyers in the week and are expected to step up their activity in the coming days as the April series of derivatives expires on Thursday. They said bull operators are likely to cover their shorts or rollover nifty positions in the next series in the light of possibility of further reduction in interest rates as the inflation remained at 0.26 per cent for the week ended April 11, 2009. PTI
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Sensex up by over 401 pts to end at six and a half month high
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Sensex up by over 401 pts to end at six and a half month high
Mumbai, Apr 29 (PTI) Frantic short-coverings on the last day of the April series as well as firm global cues helped the bellwether Sensex to rebound by 401.50 points to close at a six-and-a-half month high of 11,403.25. Operators as well as speculators were seen covering short positions on the concluding day of the derivatives contract. The Bombay Stock Exchange (BSE) as well as the National Stock Exchange (NSE) will remain closed on April 30 and May 1 for the Lok Sabha elections and Maharashtra Day, respectively. The firm trend indicated that the operators preferred to roll over their long positions to the May series rather than book profits at higher levels. The BSE 30-share barometer resumed better at 11,091.56 and ended with a net rise of 3.65 per cent from its previous close. It had closed at 11,483.40 on October 14, 2008. The Sensex, yesterday, had tumbled by a whopping 370.10 points or 3.25 per cent. Similarly, the 50-issue Nifty of the NSE also bounced back by 111.60 points or 3.32 per cent over yesterday's close to settle the day at 3,473.95. Recovery was so strong that all the sectoral indices ended in the green. PTI
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The Hindu : Front Page : Sensex zooms to cross 12,000-mark
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MUMBAI: The Bombay Stock Exchange bellwether Sensex on Monday took the biggest leap of the year to close past the 12,000-level for the first time since October last as bulls went on the rampage amid a host of favourable developments. Strong global cues and sustained capital inflows into equity and a heavy build-up of derivatives positions bolstered market sentiment. Marketmen said trading sentiment also received a boost from reports of a positive Chinese purchasing index, which raised expectations that the global economy is back on track. The BSE barometer surged by a whopping 731.50 points or 6.41 per cent, the biggest single-day gain in 2009, to settle the day at 12,134.75 over its previous close. Similarly, the broader 50-share Nifty of the National Stock Exchange soared by 180.05 points or 5.18 per cent to close at 3,654. PTI Printer friendly page Send this article to Friends by E-Mail
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http://www.hindu.com/2009/05/05/stories/2009050557100100.htm[04-May-2009 11:00:13 PM]
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Markets Bureau Posted: 2009-05-05 01:19:31+05:30 IST Updated: May 05, 2009 at 0119 hrs IST
Mumbai: The rally in emerging markets, especially Russia and China, last week was reflected in Indian markets on Monday, which reopened after a four -day recess. Equity markets jumped to their highest level since October 2008. The 30-share Sensex of the Bombay Stock Exchange (BSE) topped the psychological 12,000-level to end the trading session at 12,134.75 points, gaining 731.50 points or 6.41%. The Sensex was the highest gainer among all Asian markets. Similarly, the broader S&P CNX Nifty of the National Stock Exchange (NSE) surged by 180.05 points, or 5.18%, to close the day at 3,654 points. The rally was part of the extended gains witnessed in Asian markets, which moved up in response to data released by China revealing its industrial output had expanded for the first time in nine months. Late night trends showed the recovery persisting, with US equity markets also rising in early trades.
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FIIs sell shares worth Rs 910 cr Leading indicators of Indias industrial output indicate that a recovery could be around the corner. An ABN Amro bank purchasing managers index-based survey of 500 companies rose to 53.3 in April from 49.5 in March, pointing to increased activity in the domestic manufacturing sector.
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Te latest macroeconomic data showed an improvement in manufacturing activity in the US and Europe, too. The Eurozone manufacturing purchasing managers index came in at 36.8 in April, above 33.9 in March. The widely tracked ISM purchasing managers index in the US rose to 40.1% in April from 36.3% in March, its highest gain since September 2008. Bolstered by strong global and domestic macroeconomic data, key equity indices across the Asia Pacific region rallied higher on Monday to their seven-month closing high. Key benchmark indices in China, Hong Kong, Singapore, Taiwan, and South Korea gained by between 2.09% and 5.82%. Overall, the macroeconomic numbers coming in are very encouraging and more positive than they were earlier. So, there has been a clear recovery in investors risk appetite resulting in increased fund allocation for emerging market equities. Funds that have been sitting on the sidelines have now started coming in, said Mirae Asset Global chief executive Arindam Ghosh. Echoeing a similar view, Birla Sun Life mutual fund co -head of equity investments Ajay Argal said, The rate of fall of key economic variables has certainly eased in recent times. The latest
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CNNMoney.com Market Report - May. 4, 2009
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Stocks surge on recovery hopes

Better-than-expected pending home sales report sends Nasdaq to a 6-month high, Dow and S&P 500 to almost 4-month highs.
By Alexandra Twin, CNNMoney.com senior writer Last Updated: May 4, 2009: 5:36 PM ET EMAIL | PRINT | SHARE | RSS
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NEW YORK (CNNMoney.com) -- Wall Street rose Monday, pushing the major gauges to multi-month highs, as a betterthan-expected housing market report intensified hopes that the economy is closer to stabilizing. The Dow Jones industrial average (INDU) gained 214 points, or 2.6%, ending at the highest point since Jan. 13. The S&P 500 (SPX) index added nearly 30 points or 3.4%, ending above 900 for the first time since Jan. 8 and turning higher for the year. The Nasdaq composite (COMP) rose 44 points, or 2.6% and ended at the highest point since Nov. 4. Stocks have been surging -- since bottoming on March 9 -on bets that the worst for the economy is over. Those bets were furthered Monday by the day's economic news. The March pending home sales index from the National Association of Realtors jumped 3.2% from February, surprising economists who were looking for the index to hold steady. "If you subscribe to the theory that the global economic crisis started with the U.S. housing market and will end there, you're going to be encouraged by reports like this that suggest housing is bottoming," said Kevin D. Mahn, managing director at Hennion & Walsh. Another report, from the government, showed construction spending rose 0.3% versus forecasts for a decline of 1.6%. Spending fell 1% in February. Mahn said investors were also responding well to weekend comments from Berkshire Hathaway (BRK.A)'s Warren Buffett, who said he sees the recession ending soon and predicts that no big bank will fail. He also talked up Wells Fargo (WFC, Fortune 500), one of Berkshire's largest holdings.
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CNNMoney.com Market Report - May. 4, 2009 Most profitable big techs People making a difference Stories: Obama exclusive: Business needs to work with me 7 lessons from a messy year Pop! Went the profit bubble Regulators are expected to finally deliver the results of the stress tests for the nation's 19 largest banks on Thursday. Here's what you need to know. More
Speaking at the company's annual meeting, Buffett also said Berkshire will post a first-quarter operating profit. Stocks are coming off a strong April, in which the S&P 500 spiked 9.4%, the Dow gained 7.3% and the Nasdaq jumped 12.3%. The S&P 500 and Dow have gained for seven of the past eight weeks; the Nasdaq has jumped eight weeks in a row. While the move has been positive and has coincided with some improved results, there are still enough roadblocks for the market that analysts are wary to say the bear market is over. "The rally has been encouraging and we certainly have a lot of the ingredients for a bull market, but we need another big push for that to happen," said Jack Ablin, chief investment officer at Harris Private Bank.
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Tuesday brings readings on the services sector of the economy and a profit report from Walt Disney. Also Tuesday: Federal Reserve Chairman Ben Bernanke gives his economic outlook before the Joint Economic Committee. Banks: Financial shares are likely to be choppy ahead of the release of the government's "stress tests" on Thursday. The government will release details on the 19 individual companies tested as well as the broad group of corporations. The results are expected to include estimated loan losses in the event that the economy deteriorates further, along with an estimate of how much more capital banks would need to raise in such an environment. Citigroup (C, Fortune 500) is reportedly among the banks that will need to generate more money to stay afloat. The bank may have to raise another $10 billion, according to the Wall Street Journal. Bank of America (BAC, Fortune 500) shot down reports in the Financial Times that it has been told by the government that it needs to raise $10 billion in fresh capital. Wells Fargo has reportedly been asked to raise additional money as the result of preliminary stress tests. However, shares of the three companies rallied, along with the rest of the bank sector, as investors took the news in stride. The KBW Bank (BKX) sector index gained 14.7%. Corporate news: Sprint Nextel (S, Fortune 500) reported a quarterly profit, excluding items, surprising analysts who were looking for a quarterly loss. Shares gained 8%. Gains were broad based with 27 of 30 Dow stocks rising, led by IBM (IBM, Fortune 500), Boeing (BA, Fortune 500), United Technologies (UTX, Fortune 500) and Johnson & Johnson (JNJ, Fortune 500). Market breadth was positive. On the New York Stock Exchange, winners topped losers four to one on volume of 1.10 billion shares. On the Nasdaq, advancers topped decliners three to one on volume of 2.07 billion shares. Bonds: Treasury prices were little changed, with the yield on the benchmark 10-year note at 3.15%, little changed from Friday. Treasury prices and yields move in opposite directions. Other markets: In global trading, Asian markets ended higher and European markets mostly ended higher.
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In currency trading, the dollar fell versus the euro and gained against the yen. U.S. light crude oil for June delivery rose $1.27 to settle at $54.77 a barrel on the New York Mercantile Exchange. COMEX gold for June delivery rose $14 to settle at $902.20 an ounce.
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Stocks Surge: Upbeat Wall Street Mood Buoyed by Housing News

Wall Street Rallies as Investors Look for Signs Economy Is Finding Footing
By BETSY STARK May 4, 2009 21 comments
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Wall Street rallied today as investors looked for signs that the economy is finding its footing. The Dow Jones Industrials gained 214 points and the NASDAQ rose 44
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points. Wall Street's surge pushed the Dow up almost 29 percent from its low in March. The Standard & Poor's 500 Index, a much broader stock index, turned positive for the year, rising 3.4 percent today. Signs that some of the hardest hit sectors may be on the rebound jolted the markets. Construction spending rose by
Construction spending and home sales were up by slight percentages in April.
0.3 percent last month, according to the Commerce Department, even though experts had predicted a negative number.
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At the New York Stock Exchange, some traders expressed optimism, saying it's possible that this turnaround could be the real deal. "The market is building on all these little indicators that are coming in, all these little signals showing that maybe, just maybe, the recession, the worst part, is behind us," trader Alan Valdes said.
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http://abcnews.go.com/Business/MarketTalk/story?id=7502412&page=1[04-May-2009 11:09:11 PM]
Stocks Surge: Upbeat Wall Street Mood Buoyed by Housing News - ABC News
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In addition to the pickup in the housing market, economists see signs that the all-important American consumer, who drives the economy, is starting to regain some confidence. "They're starting to open their purse strings a little bit. They're not just clamping down on everything," said Jay Bryson, global economist at Wachovia. "Consumers are perhaps feeling not as pessimistic as they were just a few months ago." Fifty-five percent of Americans are optimistic about the economy in the year ahead, according to a recent ABC News/Washington Post poll. Consumer confidence has reached its high for the year -though still well below average, experts find.
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Member Comments (21) There are many remainining problems but we may be on the rebound. The house market hasn't rebounded. Unemployment is still high. We do not have the regulations nor the regulatory bodies in place yet that might have provided more responsible oversight for what became toxic investments. We haven't regulated credit card companies effectively. Banks, auto industies and other businesses are still recovering. We have two wars that require continous borrowing and spending. And, we have had to borrow in attempts to address this financial mess we're in. Short golf answer: We aren't out of the woods yet but our shot to get back on the fairway has improved. It's still a long way to the green. sprowlindak 10:54 PM
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They need to bring in these, "most desired" former enron employees who morgan stanley and goldman sachs had no trouble finding. When we see them in handcuffs maybe some honor will be restored to that market. Congressional investigation would be appropriate. rightbehind 10:49 PM
The market is on a bear rally and will almost certainly crash again. Take a look at the 1928-1932 chart as it saw-toothed its way downhill. There were several rallies before bottom.In the end there is nothing in our
Stocks Surge: Upbeat Wall Street Mood Buoyed by Housing News - ABC News economy, no salient indicator, that speaks to recovery. Housing is still down and commercial real estate is on the verge and the government is spending us into oblivion while printing money at a near record pace.Happy talk and dissembling will not buoy the market for long. ekklein1 10:44 PM View All Comments (21)
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Bulls Feast on Data: S&P Turns Green in '09 - FOXBusiness.com
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Bulls Feast on Data: S&P Turns Green in '09

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Matt Egan FOXBusiness The S&P 500 roared into positive territory for 2009 on Monday as the bulls pointed to a pair of better-thanexpected housing reports as the latest signs an economic recovery is coming sooner rather than later. Today's Markets The Dow Jones Industrial Average gained 214.33 points, or 2.61%, to 8426.74, the S&P 500 rose 29.72 points, or 3.39%, to 907.24 and the Nasdaq Composite picked up 44.36 points, or 2.58%, to 1763.56. The consumerfriendly FOX 50 added 19.05 points, or 2.95%, to 665.25. Youre seeing an embracing of the fact that the economy is no longer falling off a cliff. We are starting to see a little bit of strength here and there, said Paul Nolte, director of investments at Hinsdale Associates. In addition to a surprise jump in pending home sales and the first increase in construction spending in six months, the markets responded favorably to signs banks may be able to tap private capital to raise cash, a global stock market rally and mixed earnings reports from companies like Sprint Nextel (S: 5, 0.34, 7.3%). Underscoring a huge rally in the financial sector, the Dow was led higher by banking giants Citigroup (C: 3.23, 0.2401, 8.03%) and Bank of America (BAC: 10.43, 1.75, 20.16%). Non-financials like aluminum maker Alcoa (AA: 10.39, 0.71, 7.33%) and DuPont (DD: 29.38, 1.54, 5.53%) also rose sharply. Other blue-chip stocks like Microsoft (MSFT: 20.19, -0.05, -0.25%) and Chevron (CVX: 66.63, -0.24, -0.36%) lagged behind. The Nasdaq Composite rose almost as much as the broader markets, settling at its highest level since Nov. 4. This index, which includes mostly tech stocks, is now up almost 12% year-to-date and 39% from its 6-year low set in early March. We are continuing to see signals that this market has stabilized and is rebounding, NSYE trader Jonathan Corpina of Meridian Equity Partners told FOX Business. That rebound hit another milestone on Monday as the S&P 500 joined the Nasdaq by turning green year-to-date and the Dow settled at its best closing level since January 13. The rally is the latest example of Wall Street's mood shift as last week the markets shrugged off swine-flu worries and Chrysler's bankruptcy to send the Nasdaq to its longest weekly win streak since 1999. Investors are looking ahead and saying if this [economic] trend continues, we will be out the recession some time this year or the beginning of next year, which means the markets should be trading higher in anticipation of that," said Nolte. But some traders continue to wonder whether a pullback from the two-month rally is in the offing. "I still think it is a bear market rally, although that question is more academic than reality. There is still probably some pretty rough days ahead of us. There is still a lot of headline risk in the market," Steve Sachs, director of trading at Rydex Investments, told FOX Business. The markets could be in store for turbulence later this week as the government is set to release its stress test results on Thursday and issue another gloomy jobs report on Friday. Banks, Housing Hopes Lift Stocks The markets took off Monday after a pair of economic reports offered traders hope that the depressed housing market may be bottoming out. Home building stocks like KB Home (KBH: 19.49, 2.01, 11.5%) and Hovnanian (HOV: 3, 0.31, 11.52%) soared as an industry group said pending home sales unexpectedly jumped in March by 3.2% from the month before and increased from a year ago. The National Association of Realtors also said existing home prices increased in March to $174,900. We want to see home sales pick up. We want to see people come out and start buying. That will be huge," said Nolte. Also, the Commerce Department said U.S. construction spending unexpectedly rose by 0.3% in March -- the first such increase since September. Financial stocks surged almost 11% on Monday -- easily the best-performing sector -- as the markets responded favorably to the latest details seeping out about the government's bank stress tests. Bank of America (BAC: 10.43, 1.75, 20.16%) denied a Financial Times report that it plans to raise $10 billion in common equity as it said it has not yet been given a final figure from the Fed. The paper also reported Citigroup (C: 3.23, 0.2401, 8.03%), Wells Fargo (WFC: 24.18, 4.6, 23.49%) and PNC Financial (PNC: 43.25, 5.44,
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Bulls Feast on Data: S&P Turns Green in '09 - FOXBusiness.com 14.39%) also need to raise cash. In a positive development, Citi is succeeding in talks with private investors to convert $12.5 billion of preferred holdings into common equity, bank sources tell FOX Businesss Liz MacDonald. While the move will dilute current common holders, it could prevent the U.S. from convert its entire $52 billion stake into common equity. Wall Street shrugged off the latest reminder of the obstacles facing the banking industry as three more banks were closed over the weekend, bringing the total to 32 for this year, 7 more than all of 2008. In the commodity markets, crude oil closed in the green for the fourth-straight day. Crude jumped $1.27 per barrel, or 2.39%, to settle at $54.47 per barrel -- its best level since November. Corporate Movers Sprint Nextel (S: 5, 0.34, 7.3%) beat the Street with an adjusted-profit of 3 cents per share thanks to cost cuts. However, the telecom giant lost a worse-than-expected 1.25 million postpaid customers. Separately, Sprint is in final talks with Ericsson to outsource the management of its cell network and transfer 5,000 to 7,000 U.S. employees, The Wall Street Journal reported. Chrysler LLC plans to launch a new ad campaign this week backed with a new slew of incentives in an effort to reassure customers while it attempts to quickly emerge from bankruptcy, the Journal reported. General Motors (GM: 1.81, 0.009, 0.5%) is gearing up for talks with the United Auto Workers union this week as the auto maker seeks to avoid a bankruptcy filing, the Journal reported. GM said Monday it is proceeding with its efforts to sell Saturn as the brand has received interest from a number of potential buyers. Fiat SpA CEO Sergio Marchionne visited Berlin on Monday as the Italian auto maker steps up its efforts to buy Opel, GMs German unit. Fiat is aiming to spin off its core car business into a new company that includes both Chrysler and Opel and would reap synergies of 1 billion euros per year. Pepsi Bottling Group (PBG: 31.48, 0.13, 0.41%) rejected an offer from PepsiCo (PEP: 49.12, -0.61, -1.23%) to buy the remaining two-thirds stake in the bottler for $4.2 billion, saying the bid "is grossly inadequate and substantially understates potential synergies. New York Times Co . (NYT: 5.99, 0.59, 10.93%) threatened to shut down the Boston Globe if the newspaper is unable to get millions of dollars in concessions from its unions. Talks between Bostons only daily paper and its union stopped early Monday morning after a midnight deadline passed. American International Group (AIG: 1.5, 0.1, 7.14%) is close to selling its Japanese headquarters for $1 billion as the bailed-out insurer continues its efforts to repay the U.S., the Journal reported. The likely buyer of the 15-story Tokyo building is a Japanese insurer. Tyson Foods (TSY: undefined, undefined, undefined%) reported an adjusted-loss of 5 cents a share, one cent better than what analysts expected. The company struggled during the quarter with low poultry prices and high input costs like grain and energy. It said it is too soon to predict the impact of the swine-flu outbreak. DirecTV (DTV: 23.93, -0.64, -2.6%) unveiled plans to merge with Liberty Media's (LMDIA: 25.21, 0.88, 3.62%) entertainment unit. The combination would give Liberty Media's entertainment unit a 54% stake in the satellite TV provider. Global Markets Asian and European markets soared overnight, though two of the largest global markets -- London and Japan -- were closed for a holiday. European markets extended their win streak to three days as France's CAC 40 rose 2.47% to 3237.97 and Germany's DAX gained 2.79% to 4902.45. Hong Kong's Hang Seng jumped 5.54% to 16381.05 and China's Shanghai Composite advanced 3.32% to 2559.91.
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Mumbai, May 18 (PTI) The markets today cheered the formation of a stable government at the Centre, with the Bombay Stock Exchange benchmark Sensex surpassing the 14,000 point level in a few seconds, before the exchange authorities suspended trading for the day. The Sensex, in hardly 25 seconds of trading, surged 2,110.79 points, or 17.34 per cent, to 14,284.21 points, recording the biggest single-day gain, and hitting the upper circuit for the first time in the history of the bourse. In a similar fashion, the 50-share National Stock Exchange index Nifty soared 651.50 points, or 17.74 per cent, to 4,323.15, after touching the day's high of 4,384.30. This is the first time that trading halted within seconds of the opening bells with the Sensex and Nifty soaring by 15 per cent and again by more than two per cent after the market re-opened at 1155 hours as market participants turned extremely bullish after the Congress emerged as the single largest party in the Lok Sabha elections. Brokers said investors were strongly optimistic about consistent and substantial increase in capital inflows in the future as economic reforms are likely to get top priority after Manmohan Singh becomes Prime Minister for a second term. The upsurge was strong enough as the NSE index Nifty surpassed the first 10 per cent upper limit in just 13 seconds and even crossed 15 per cent limit, resulting in suspension of trading for two hours. PTI
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Market welcomes FM's promise; Sensex surges 520 points
Mumbai, May 27 (PTI) The stock market benchmark Sensex today surged by 520 points on heavy buying in banking, realty and metal stocks, as if welcoming Finance Minister Pranab Mukherjee's promise to rope in banks for cheaper credit. With today's gain of 520.41 points, the Sensex regained 14,000-point level and ended the day at 14,109.64 points. The index touched an intra-day high of 14,122.78 points. The wide-based National Stock Exchange index Nifty spurted by 159.35 points, 3.87 per cent to 4,276.05. Buying activity gathered momentum in metal stocks on reports of the copper prices climbing in overseas markets, while bank and interest-sensitive construction shares rose after Mukherjee said the government would increase spending in infrastructure and get a commitment from banks for a benign plan of action to ensure cheaper credit. The rising trend was also supported by brokers indulging in covering their pending positions ahead of the settlements in the derivative segment. In the 30-BSE index stocks, Reliance Industries rose 2.01 per cent to Rs 2,187.20, Infosys Technologies by 2.68 per cent to Rs 1,584.60, ICICI Bank by 6.59 per cent to Rs 710.55, Sterlite Industries by 9.49 per cent to Rs 591.15 and Larsen and Toubro by 4.51 per cent to Rs 1,311.40. All the five stocks carry nearly 38 per cent weightage on the Sensex. PTI
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Dow ends up 103 points

Major indexes advance as investors welcome positive auction results for U.S. debt. Higher oil prices boost the energy sector.
By Ben Rooney, CNNMoney.com staff writer Last Updated: May 28, 2009: 5:25 PM ET EMAIL | PRINT | SHARE | RSS
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1. GM bankruptcy still likely despite deal 2. Dow ends up 103 points 3. Ackman's Target quest falls flat 4. Dell: Profit slows as PC sales sink 34% 5. Bewkes sets AOL free
NEW YORK (CNNMoney.com) -- Stocks ended a volatile session higher Thursday as the government's most recent debt auction saw solid demand and a rise in oil prices boosted shares of energy producers. The Dow Jones industrial average (INDU) rose 103 points, or 1.2% while the broader S&P 500 (SPX) added 14 points, or 1.5%. The Nasdaq composite (COMP) gained 1.2%, adding 20 points. Oil prices rose above $65 a barrel. ConocoPhillips (COP, Fortune 500), Exxon Mobil (XOM, Fortune 500) and Chevron (CVX, Fortune 500) all posted gains. Bank stocks also rose, with Goldman Sachs (GS, Fortune 500) up 3% and JPMorgan (JPM, Fortune 500) rising nearly 6%. Stocks had seesawed for most of the session on mixed economic news. But gains accelerated later in the day after the government said it saw healthy demand for Thursday's auction of 7-year notes. That tempered some fears that a rebound of borrowing costs, particularly mortgage rates, could derail an economic recovery. Investors mostly shrugged off an agreement between General Motors and bondholders on a debt for equity swap. The agreement does not mean the troubled automaker will avoid bankruptcy. John Wilson, chief technical strategist at Morgan Keegan, said the market is undergoing a process of "sideways consolidation." After climbing about 30% from the lows of early March, stocks have settled into a narrow range as investors look for more convincing signs that an economic recovery is in the works, he said.
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"As this trading range narrows, the market is going to be forced to go one way or the other," he said. Housing: New home sales in April rose 0.3% at a seasonally adjusted annual rate of 352,000 from a revised rate of 351,000 the month before, according to government figures. Economists surveyed by Briefing.com had expected an April sales rate of 360,000, while March sales were originally reported at a 356,000 rate. At the current rate, it would take more than 10 months to sell through the existing inventory of homes on the market, according to the report. Separately, the number of foreclosure actions started in the first three months of 2009 rose to a record high, according to the Mortgage Bankers Association. The National Delinquency Survey showed that more than 616,000 home owners were hit with foreclosure actions in the quarter. That's up 27% from the last three months of 2008, and the largest quarter-over-quarter increase in foreclosure starts since the MBA began keeping records in 1972.
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Recession's end in sight?
Economy: A report on weekly jobless claims showed a larger-than-expected decline, while the monthly report for durable goods orders showed a higher-than-expected increase. Initial jobless claims fell to 623,000 in the week ended May 23, a decline of 13,000 from the revised figure for the prior week. Claims were expected to decline to 628,000, according to economists surveyed by Briefing.com. Durable goods orders jumped 1.9% in April, a larger increase than expected. Orders were expected to have risen 0.5% in April, according to the Briefing.com consensus, compared to a revised decline of 2.1% the prior month. "The economic picture continues to be choppy," said Ryan Larson, senior equity trader at Voyager Asset Management. "We're in an environment where the market is dictated by headlines, and the headlines aren't very good." Bonds: Treasury prices rose, with the yield on the benchmark 10-year Treasury note falling to 3.63% from Wednesday's 6-month high of 3.71%. Bond prices and yields move in opposite directions. The Treasury Department said it received $58.7 billion worth of bids for the $26 billion in 7-year notes offered Thursday. That made for a bid-to-cover ratio of 2.26, reflecting relatively strong demand. "With yields rising its making it harder for people to borrow money," Larson said. "That calls into question the government's ability to keep rates low and get credit flowing again." Mortgage rates, which are pegged to Treasury yields, jumped in the most recent week. The average 30-year fixed mortgage rate rose to 5.45% in the week ended Wednesday from 5.24% last week.
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Companies: Shortly after the closing bell, personal computer maker Dell (DELL, Fortune 500) reported first-quarter adjusted earnings of 24 cents per share, slightly better than the 23 cent profit analysts had expected. Still, net income fell 63% as PC sales dipped sharply. Auto parts supplier Visteon (VSTN, Fortune 500) filed for bankruptcy protection for its U.S. operations. The company, which is a major supplier to Ford (F, Fortune 500), has been hit hard by the sharp decline in demand for cars. Media powerhouse Time Warner (TWX, Fortune 500) announced that it would separate itself from online service company AOL. Time Warner said AOL would be spun into a separate publicly traded company. GM (GM, Fortune 500) shares rose after the troubled automaker said major bondholders have accepted a revised deal to swap debt for equity. However, the deal does not mean that the company will avoid filing for bankruptcy, which could happen at the end of this week if certain other restructuring efforts fail. Other markets: Stocks in Japan finished the session slightly higher. Markets in Hong Kong and China were closed for a holiday. European shares ended lower with the DAX in Germany falling 1.3%. In currency trading, the dollar was mixed against rival currencies. It fell against the euro but rose against the pound and the yen, jumping 1.5% against the Japanese currency. NYMEX crude oil for July delivery rose $1.63 to settle at $65.08 a barrel, after climbing to a high of $65.35. The rally came after the government said U.S. crude stocks fell more than expected last week. COMEX gold for August delivery rose $8.20 an ounce to $961.50.
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Good GDP numbers, ministerial statements talk up Sensex
Mumbai, May 29 (PTI) Good GDP growth numbers and hints at oil price deregulation set the tone for the stock markets, with the bellwether Sensex soaring 329 points to nearly a nine-month high of 14,625.25 today. Going up for the third consecutive day, the Bombay Stock Exchange 30-share barometer reached a level not seen since September 10, 2008, as bulls tightened their grip on the market with Petroleum Minister Murli Deora's statement on oil price deregulation strengthening expectations of economic reforms. The market also cheered a stronger-than-expected growth rate of 5.8 per cent in the last quarter of 2008-09 and 6.7 per cent for the fiscal, despite global recessionary trends and dismal performance in the domestic manufacturing sector. The broader 50-share Nifty of the National Stock Exchange also spurted by a whopping 111.85 points or 2.58 per cent to close at 4,448.95 from its previous close. Foreign institutional investors (FIIs) have been aggressive buyers this month. According to provisional numbers on the NSE, FIIs bought shares worth Rs 1,860 crore, taking the total inflow till May 27 to Rs 17,643.50 crore. The healthcare sector, however, was down as bluechip Sun Pharma fell 8.24 per cent. There was hectic buying in mid-cap and small-cap stocks, pushing up the indices by 2.46 per cent and 3.01 per cent, respectively. PTI
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BBC NEWS | Business | Indian growth unexpectedly strong

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Indian growth unexpectedly strong

India's economy grew 5.8% in the first three months of the year compared with the same period last year, which was better than had been expected. The official gross domestic product figure was down from 8.6% annual growth seen in the first quarter of 2008.
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GLOBAL RECESSION KEY STORIES US economy shrinks at slower pace

The Indian economy is still one of the fastest-growing in the world
Indian growth unexpectedly strong Eurozone inflation at record low Japan's industrial output jumps South Africa goes into recession Russian economic slide worsening BACKGROUND AND ANALYSIS How significant are the signs the recession is bottoming out? How to spot a global recession Economists' view of recovery World trade fall hits Hong Kong US stimulus plan explained Live global share movements CRISIS OVERVIEW How market moves affect you Timeline: Credit crunch to downturn Credit crunch jargon explained Audio slideshow Robert Peston's guide to the causes of the financial turmoil VIDEO REPORTS Intel 'weathering' credit crisis
Although growth has slowed from last year, the economy is still expanding faster than most other countries.
It grew 6.7% in the full financial year, which was down from a rate of 9% in the year to the end of March 2008. 'Growth bottomed out' "The GDP growth number justifies the claim that India is dealing with the global crisis from a position of strength," said Rupa Rege Nitsure, chief economist at Bank of Baroda in Mumbai. "This means that growth has bottomed out, or at least the deceleration has stopped." The figures are good news for the newly-elected Congress-led government, which has made reviving growth its top priority. Among the sectors showing an improvement was farm output, which grew at an annualised rate of 2.7% in the first three months of 2009 having contracted 0.8% in the previous quarter. Construction grew 6.8% in the period compared with 4.2% in the previous quarter. But the manufacturing sector contracted an annual 1.4%, having grown 0.9% in the previous three months.
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FROM OTHER NEWS SITES Finance 24 India's economy beats forecasts - 5 hrs ago UPI India's GDP grew 5.8 percent in quarter - 9 hrs ago CNBC UPDATE 3-Indian growth beats expectations, fuels recovery hopes - 10 hrs ago RTTNews.com U.S. Economy Contracts By A Revised 5.7% In First Quarter - 12 hrs ago Times of India India's GDP slows to 6.7% - 15 hrs ago About these results
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The Hindu : Business / Markets : Sensex rallies by 365 points, records best gain in two weeks Archives Subscriptions RSS Feeds Site Map ePaper
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MUMBAI, May 26, 2010
Sensex rallies by 365 points, records best gain in two weeks

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A benchmark index for Indian equities Wednesday extended its morning gains during the last hour of trade and closed 357 points higher than its previous close. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,069.78 points, ended at 16,379.63 points (provisional), 357.15 points or 2.23 percent up from its previous close at 16,022.48 points. At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty too closed in the green at 4,913.05 points, up 2.21 percent from its previous close at 4,806.75 points. Broader market indices were in the positive as well, with the BSE midcap index ending 1.46 percent up and the BSE smallcap index 1.67 percent higher. In opening trade Sensex recovered by nearly 232 points in opening trade on Wednesday, after dipping to a three-month low in on Tuesdays trade, on positive cues from Asian markets. The 30-share index, which had lost 447.07 in the previous sessions, bounced back by 231.41 points, or 1.44 per cent, to 16,253.89 points. Reflecting the widespread-recovery, all the sectoral indices were trading in the green with gains up to 1.86 per cent. The wide-based National Stock Exchanges Nifty rose 70.55 points, or 1.46 per cent, to 4,87.30 points. Brokers said covering-up of pending positions by speculators ahead of tomorrows monthly expiry in derivatives segment also played a role in the recovery. Besides, positive cues from Asia where all the bourses were trading up to 1 per cent higher also supported the upside trend, they added. Keywords: Sensex, NSE, BSE, markets
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Sensex surges by 278 points on heavy buying

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The Bombay Stock Exchange benchmark Sensex surged for the second day on Thursday adding 278 points on heavy buying in banking, auto and refinery stocks in line with firming Asian and European markets. The 30-share index, which had rallied 365 points in the previous session, jumped further by 278.56 points to close at 16,666.40 points. Similarly, the wide-based National Stock Exchange index Nifty regained the 5,000 points level by gaining 85.70 points to 5,003.10 points. Brokers said a firming trend in the Asian region and a higher opening in European stock markets this afternoon boosted the trading sentiment on domestic front. Investors adjusting their pending short positions on the last day of monthly derivatives contracts also added to the rally, they said. The gauge touched the days high of 16,694.55 but eased as foreign funds dumped shares. FIIs have sold shares worth USD 2.3 billion so far in May, their biggest pullout since October 2008, on concerns over debt crisis in Europe. Among the 30 BSE index stocks, 26 stocks gained. All the sectoral indices closed higher with gains up to 2.55 per cent. Market leader Reliance Industries shot up by 1.44 per cent to Rs 1,021.85 and the second-heaviest Infosys by 0.95 per cent to Rs 2,643.45. HDFC Bank rose by 3.78 per cent to Rs 1,894.95 and HDFC by 2.37 per cent to Rs 2,754.45. All the four carry nearly 34 per cent weightage on the index. The banking sector index gained the most rising 2.55 per cent to 10,511.40, followed by the auto sector index by 2.10 per cent to 7,449.22. The oil and gas index rose by 2.09 per cent to 9,932.42 and the realty sector index by 1.70 per cent to 3,006.11. Among Asian markets, Japans Nikkei rose 1.23 per cent, Hong Kong by 1.22 per cent and Chinas Shanghai by 1.15 per cent. In European region, Londons FTSE opened up by 2.15 per cent. Keywords: BSE, NSE, Sensex, NIFTY
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Rally Heats Up as Dow Soars 200 Points - FOXBusiness.com
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0 Comments Add Comment By Matt Egan FOXBusiness There's No Business Like FOX Business Wall Street's three-day slump could be near an end as the Dow surged about 200 points above the crucial 10000 mark Thursday as China denying reports it is considering paring its eurozone exposure renewed traders' hunger for risk. Todays Markets As of 11:57 a.m. ET, the Dow Jones Industrial Average rose 207.30 points, or 2.08%, to 10181.52, the Standard & Poor's 500 added 24.63 points, or 2.31%, to 1092.51 and the Nasdaq Composite picked up 58.07 points, or 2.65%, to 2254.12. The FOX 50 added 18.21 points, or 2.33%, to 799.77. The early bullishness comes after initial reports about Chinas euro jitters prompted a steep selloff in U.S. markets on Thursday, leaving the blue chips below 10000 for the first time since early February. The market is susceptible to this type of bounce due to these extreme oversold conditions, said Michael James, senior equities trader at Wedbush Morgan Securities. Is it sustainable? Only time will tell. I still think we are in a short-term downtrend. Its going to take a lot to reverse that pattern to me. Aside from the focus on the euro, Wall Street was cheering reports that BP (BP) was able to seal off its massive oil spill in the Gulf of Mexico and digesting new indicators on gross domestic product and jobless claims and mostly upbeat reports from retailers Costco (COST) and Tiffany (TIF). All 30 blue-chip stocks headed north in recent action, led by technology giants Microsoft (MSFT) and Intel (INTC). Economically-sensitive American Express (AXP) and Alcoa (AA) also enjoyed stronger gains. The index's worst performers were defensive stocks Wal-Mart (WMT) and Johnson & Johnson (JNJ). The Nasdaq Composite outperformed the broader markets thanks to strength from technology stocks like Baidu.com (BIDU) and Oracle (ORCL). Traders continued to be glued to the value of the euro, which rallied after China denied a Financial Times report that indicated Chinese officials were mulling sales of euro bonds, of which it reportedly holds $630 billion worth of. The China State Administration of Foreign Exchange, which manages Chinas overseas investments, issued a statement calling the report groundless. "We believe that with the joint efforts of the international community, the eurozone will be able to overcome its difficulties and maintain the steady and healthy development of European financial markets," the statement from SAFE said. Also, the Kuwait Investment Authority denied a Kuwait report that it is reducing its exposure to eurozone investments, saying it is a long-term investor and there has been no change in its investment strategy, according to Reuters. Boosted by the dual statements, the euro traded up by more than 1.7% against the dollar before paring its gains. A weaker dollar tends to boost stocks by making exports cheaper. The euro was recently up 1.70% to $1.2361. The energy sector surged 3.5%, making it the best performer on Wall Street. The group was driven higher as BP (BP) jumped more than 6% after the Los Angeles Times reported the oil majors top kill effort to block the oil leak has been successful from stopping the flow of oil and gas. The report cited a Coast Guard Official and is welcome news for BP, which has been slammed by the fallout of the huge oil spill. The news also lifted shares of Transocean (RIG), which operated the rig at the center of the spill. Wall Street displayed less enthusiasm for new reports on the U.S. economy. The Commerce Department unexpectedly lowered its estimate for first-quarter GDP growth to 3%, down from 3.2% previously and below forecasts for a rise to 3.4%. Also, the Labor Department said first-time unemployment claims fell by 14,000 to 460,000, slightly missing estimates for a drop of 16,000. Continuing claims, which are filed by those out of work for more than a week, slid 49,000 to 4.6 million. In the commodity markets, crude oil built on its best day since September by climbing above the $73 mark. Crude gained $2.76 a barrel, or 3.80%, to $74.26. Gold rose $1.50 a troy ounce, or 0.12%, to $1,216.80. Corporate Movers Costco (COST) beat the Street with EPS of 68 cents and revenue of $17.78 billion. Analysts had expected EPS of 66 cents on revenue of $17.6 billion. The worlds largest warehouse retailer said same-store sales were up 10% last quarter, excluding currency fluctuations and gasoline sales. Tiffany (TIF) more than doubled its first-quarter profits to 50 cents a share, significantly ahead of estimates for just 37 cents. Revenue jumped by a better-than-expected 22% to $633.6 million. The jewelry retailer upped its 2010 EPS outlook to $2.55 to $2.60, compared to the Streets view of just $2.07. Citigroups (C) stock jumped a day after the Treasury Department announced selling 1.5 billion common shares of the banking giant, creating gross proceeds of about $6.2 billion. The government has plans to sell an additional 1.5 billion shares in an orderly fashion. Also, activist investor William Ackman said his firm recently bought 150 million shares of Citi. H.J. Heinz (HNZ) reported a profit of 60 cents a share, one cent below expectations. Sales were up 8.3% to $2.72 billion, narrowly missing the Streets view. However, the company said it sees 2011 EPS growth of 7% to 10% and it boosted its dividend by 7.1%. ShareThis | Respond to Editor |
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http://www.foxbusiness.com/story/markets/futures-jump-china-denies-euro-bond-sale/[27-May-2010 12:47:21 PM]
Rally Heats Up as Dow Soars 200 Points - FOXBusiness.com Big Lots (BIG) reported a 54% rise in first-quarter profits to 68 cents a share, exceeding estimates by 2 cents. Revenue of $1.4 billion topped the Streets view of $1.2 billion. The discount retailer also upped its 2010 EPS outlook to $2.75 to $2.85, which would easily exceed estimates for $2.33. Global Markets The U.K.'s FTSE 100 rose 1.9% to 5134.19, France's CAC 40 advanced 2.02% to 3477.41 and Germany's DAX jumped 2.28% to 5889.51. In Asia, Tokyo's Nikkei 225 added 1.23% to 9639.72, Hong Kong's Hang Seng closed up 1.22% to 19431.37 and China's Shanghai Composite gained 1.15% to 2655.92.
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http://www.foxbusiness.com/story/markets/futures-jump-china-denies-euro-bond-sale/[27-May-2010 12:47:21 PM]
U.S. Stocks End Sharply Higher In Relief Rally - FOXBusiness.com
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U.S. Stocks End Sharply Higher In Relief Rally

ShareThis | Respond to Editor | By Nick Godt MarketWatch Pulse NEW YORK -- U.S. stocks climbed Thursday, tracking a rebound in the euro as concerns about Europe's debt crisis ebbed somewhat after China denied reports it would sell euro-bond holdings. The Dow Jones Industrial Average jumped 284.61 points, or 2.9%, to end at 10,258.99, its biggest gain since May 10. Blue-chip gains were led by American Express Co. , up 5.7%; Intel Corp. , up 5.2%; and Alcoa Inc. , up 5.1%. The S&P 500 Index rose 35.11, or 3.3%, to 1,103.06, while the Nasdaq Composite Index rose 81.80 points, or 3.7%, to 2,277.68. The Nasdaq also returned to positive ground for the year. Copyright 2010 MarketWatch, Inc.
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Thursdays Markets By the Numbers Anadys Climbs On Hepatitis C Study WNS Announces Fourth Quarter and Full Year Fiscal 2010 Earnings Updates Guidance for Fiscal 2011 Friday's Markets By the Numbers SBA Still Claims Fortune 500 Firms Land Small Business Contracts Accidentally, According to the American Small Business League
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http://www.foxbusiness.com/story/stocks-end-sharply-higher-relief-rally/[27-May-2010 5:46:43 PM]
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Stocks stage a big rally

Recommend You and 105 others recommend this.105 people recommend this. Admin Page Error Unlike By Hibah Yousuf, staff reporter May 27, 2010: 4:57 PM ET
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NEW YORK (CNNMoney.com) -- U.S. stocks soared Thursday, with the major indexes gaining about 3%, after Chinese officials dismissed reports that they're reviewing their nation's investment in European bonds amid concerns about the continent's debt problems. The Dow Jones industrial average (INDU) added 285 points, or 2.9%, and finished at 10,259. American Express (AXP, Fortune 500), Intel (INTC, Fortune 500) and Alcoa (AA, Fortune 500) led the advance, rising more than 5%. Facebook Twitter Email Digg Buzz Up! Print The S&P 500 (SPX) index rose 35 points, or 3.3%, and the Nasdaq (COMP) composite increased 82 points, or 3.7%. Stocks erased gains in the last hour of trade Wednesday, with the Dow finishing below 10,000 for the first time in three months, as the focus shifted from strong economic reports to lingering concerns about global economic recovery and the weakening euro.
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But investors' confidence got a boost Thursday after China's State Buy a link here Administration of Foreign Exchange refuted reports that the country was reconsidering its holdings in European bonds, calling the claims "groundless." "China has always firmly supported the EU integration process. We support the European Union and the International Monetary Fund package of financial stability measures being taken," said agency chief Yi Gang in a statement. China holds $2.45 trillion of foreign exchange reserves, with U.S. Treasury debt and Euro zone government bonds making up key investments. "The news out of China denying rumors that they're going to reevaluate
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http://money.cnn.com/2010/05/27/markets/markets_newyork/index.htm?hpt=T2[28-May-2010 2:51:38 AM]
their European assets sparked a nice rally," said Peter Cardillo, chief market economist at Avalon Partners.
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Had the rumors been true, Cardillo said the euro would have crashed and sent markets into a free fall. "That kind of move would have been detrimental for China, too," Cardillo said. "If Europe falls apart, so will the global economy."
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China bucks up the euro

Although worries about Europe's debt problems will continue, Cardillo said it's only a matter of time before fears subside. The CBOE Volatility index, or the VIX (VIX), Wall Street's fear factor, sank more than 14%. "With the facts we have now, we know Europe's troubles will impact economic activity on a global scale, but not by much and that's key," Cardillo said. But markets could continue to remain volatile as investors remain jittery. "Anytime we see moves of this kind of magnitude, even if it's positive, investors take a little more caution," said Russel Lundeberg, chief investment officer at Barrett Capital Management. "A nervous environment keeps volatility high." Economy: The government revised its reading on first-quarter gross domestic product (GDP), the broadest measure of U.S. economic activity, to an annual growth rate of 3%. The figure was below expectations of 3.3%, according to a consensus of economists surveyed by Briefing.com. The initial reading, released last month, was a 3.2% rate. But the revision also showed that the rate of consumer spending has doubled since the fourth quarter of 2009, and remains consistent with the forecast for annual GDP to grow between 3% and 3.5% in 2010, Cardillo said. The Labor Department said filings for first-time unemployment insurance fell last week to 460,000 from a revised 474,000 the previous week. Economists were expecting claims to fall even lower, to 455,000. Companies: Johnson & Johnson (JNJ, Fortune 500) executives told lawmakers that the widespread recall of children's Tylenol medicines earlier this month was a precautionary measure taken against "remote" health risks. But the Food and Drug Administration is investigating reports of at least 775 serious side effects from the recalled drugs. Johnson & Johnson's stock was the only Dow component to slip into the red Thursday, falling 0.2%. Since the May 1 recall, the company's shares have fell more than 7%. BP (BP) executives also took the hot seat on Capitol Hill in ongoing testimony about the Gulf oil spill. The company's shares soared 7% after an Oppenheimer analyst raised the stock's rating, saying that the recent sell-off has gone too far. Shares of BP have dipped 30% since the April 20 explosion.
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US Indexes Markets Dow Nasdaq S&P 500 Treasurys U.S. Dollar Last 10,258.99 2,277.68 1,103.06 3.34 1.23 Market Movers Change 284.54 81.80 35.11 0.12 0.01 % Change 2.85% 3.73% 3.29% 3.73% 0.79%
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Mobil (XOM, Fortune 500). Both tech giants added about 4%. World markets: Stocks around the world also advanced on the news from China. In Europe, the CAC 40 in France jumped 3.4%. Britain's FTSE 100 added 3.1% and the DAX in Germany also gained 3.1% Asian shares also finished higher. The Hang Seng in Hong Kong and Japan's Nikkei added 1.2%. The Shanghai Composite gained 1.2%. Dollar and commodities: The euro, which has seesawed since falling to a four-year low last week amid concerns about the region's economic stability, rebounded against the dollar, rising 1.5% against the U.S. currency. The greenback was down 1.3% against the British pound, but it was up 1% versus the Japanese yen. The weaker dollar gave momentum to oil prices. Oil for July delivery rose $3.04, or 4.3%, to $74.55 a barrel. Gold for June delivery dipped $1.50 to settle at $1,211.60 per ounce. Bonds: Treasury prices tumbled Thursday, pushing the benchmark 10year note's yield up to 3.35%. Bond prices and yields move in opposite directions. Trading volume: Market breadth was positive. On the New York Stock Exchange, winners beat losers nearly 13 to one on volume of just under 1.4 billion shares. On the Nasdaq, advancers topped decliners seven to one on volume of 2.4 billion shares.
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Sensex up 197 points

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Markets rose for the third day in a row today with the BSE benchmark index Sensex surging by nearly 200 points on renewed buying amid strong global cues. The 30-share index of the Bombay Stock Exchange finished the day by 196.66 points, or 1.18 per cent, at 16,863.06 points -- the best closing since May 18. Despite a highly volatile week, the Sensex recored a net gain of 2.53 per cent during the period on the back a strong recovery in the past three days. In the past three sessions, the barometer has gained over 5 per cent. The wide-based 50-share Nifty index of the National Stock Exchange too climbed 1.27 per cent to end at 5,066.55 points. "Though confidence in market has not returned fully, positive cues from across the globe helped hectic buying here. Markets have retreated significantly in the immediate past and a pull-back is not so surprising," Sarabjit Kour Nangra, VP, Research, Angel Broking, said. Index heavyweight Reliance Industries rose 1.17 per cent to Rs 1,033.85, after the company said it has made fifth oil discovery in a block in Gujarat. Hectic buying was seen across all counters. All sectoral indices on BSE ended higher in the range of nearly 1 per cent and four per cent, with realty, metal, FMCG and auto leading the charge. FMCF major ITC climbed 2.53 per cent and realty giant DLF advanced 3.53 per cent. In the frontline metal stocks, Sterlite surged 5.75 per cent, Jindal Steel 4.85 per cent, Tata Steel 0.64 per cent and Hindalco 1.55 per cent. The top gainer in the BSE-30 was Reliance Communications at around 6 per cent. Analysts also said easing of food inflation for the latest week also helped market sentiment. Food inflation for the week ended may 15 stood at 16.23 per cent down from 16.49 per cent of May 8. Maruti Suzuki and HDFC Bank were the top losers. "Volatility in market will continue and money flows would be impacted in the Indian markets in the short term. But over a longer term, fund allocation to Indian markets will rise. So till then investors should adjust their investments in between equity and fixed income products," Axis AMC MD & CEO Rajiv Anand said.
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http://beta.thehindu.com/business/markets/article440214.ece[28-May-2010 2:04:55 PM]
The Hindu : Business / Markets : Sensex up 197 points
On the global front, Japan's Nekkei added 1.28 per cent, while Hong Kong's Heng Seng Index rose 1.73 per cent. Europe was also firm in mid-session. There was a rally in US markets overnight. Keywords: Sensex, BSE, Nifty, NSE
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http://beta.thehindu.com/business/markets/article440214.ece[28-May-2010 2:04:55 PM]
Housing Entices Bulls; Dow Soars 226 - FOXBusiness.com
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Wednesday, June 02, 2010
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Housing Entices Bulls; Dow Soars 226

0 Comments Add Comment By Matt Egan FOXBusiness There's No Business Like FOX Business Emboldened by the best pending home sales report in six months and a surge in the energy sector, the bulls stormed back onto to Wall Street on Wednesday after taking an extended holiday weekend, sending the Dow surging more than 225 points. Todays Markets The Dow Jones Industrial Average rose 225.52 points, or 2.25%, to 10249.54, the Standard & Poor's 500 added 27.67 points, or 2.58%, to 1098.38 and the Nasdaq Composite picked up 58.74 points, or 2.64%, to 2281.07. The FOX 50 gained 17.32 points, or 2.19%, to 807.78. The jitters that dominated Wall Street during the previous session evaporated and were replaced with a renewed appetite for risk as traders scooped up beaten-down stocks after the stronger-than-expected housing data and 4% gain in the energy space. The markets were also soothed by stabilization in the euro and upbeat auto sales reports from Ford (F) and other auto makers. The world got the circular that the stock market was on sale. Anyplace else in the country you get sales notices from Macys saying, We have 25% to 40% off, NYSE trader Ben Willis of Sunrise Securities told FOX Business. If you sold in May and went away, you did okay. The blue chips posted its third-strongest performance of the year and recouped nearly all of the previous two sessions' triple-digit losses. Signaling the fading jitters on Wall Street, the VIX, or the markets' so-called fear gauge, tumbled 15%. At the same time, the markets enjoyed solid volume and reversed a pattern of closing near session lows, ending the session at the highest level of the day. After days of focusing on Europes sovereign debt crisis and the economic and legal impact of BPs (BP) oil spill in the Gulf of Mexico, the spotlight shifted back to the U.S. economy, which has largely outperformed its European counterparts. The markets were also gearing up for Fridays all-important jobs report, which is expected to show robust job growth. Economic U.S. fundamentals look great. I think this crisis with European debt was probably a little overdone here. Ultimately, for the long run, the U.S. recovery should carry the day, Rob Morgan, chief investment strategist at Fulcrum Securities, told FOX Business. All of the Dow's 30 components ended the day in the green, led by Hewlett-Packard (HPQ), Walt Disney (DIS) and American Express (AXP). The index's weakest stocks were Procter & Gamble (PC) and 3M (MMM). The Nasdaq Composite gained more than 2.6% thanks to strength from large cap technology stocks such as Research in Motion (RIMM) and Google (GOOG). Wednesday's rally represents a strong rebound from Tuesdays 113-point drop, which was driven by a 5% plunge in the energy sector amid worries about the ramifications of the oil spill. The Dow had tumbled more than 10% from its 2010 closing high of 11205 that was hit in late April. We are starting to get people to pay attention to the economic data , which weve largely ignored for the past month. Weve been laser focused on the euro, said Art Hogan, chief market strategist at Jefferies & Co. The rally began in earnest after the National Association of Realtors released data revealing pending home sales jumped 6% in April, marking the third-straight month of increases and beating expectations for a rise of 4.3%. It was also the strongest pace of sales since October. Sales were up 22.4% from April 2009 as home buyers pushed to take advantage of tax credits that were expiring. Shares of home building stocks like DH Horton (DHI) and home improvement retailer Home Depot (HD) received a boost from the data. So did economically-sensitive stocks like Alcoa (AA) and U.S. Steel (X). Also on the economic front, Challenger & Gray said businesses in May cut a modest 38,810 jobs, nearly flat from the previous month's four-year low. ADPs private-sector jobs report is slated for release on Thursday. The markets also have high hopes for the Labor Departments May jobs report, which is due on Friday and expected to show the U.S. economy created 500,000 jobs and the unemployment rate fell to 9.8%. The energy sector was the day's best performer, bouncing back from Tuesday's plunge. BPs (BP) stock rebounded from its worst day since 1974 as the oil major told the Times of London it will not cut its dividend and the spill is "eminently manageable." BPs market cap has declined by nearly 40% since the April 20 explosion. The U.S. said on Tuesday it has opened a criminal probe into the oil spill. Transocean (RIG), which owned the rig that exploded, slid to new 52-week lows. However, shares of other companies related to the oil spill bounced back from Tuesdays plunge, including Anadarko Petroleum (APC) and Halliburton (HAL). Even oil services companies not directly related to the spill but feeling its effects like Schlumberger (SLB) posted big gains. | Respond to Editor |
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http://www.foxbusiness.com/story/markets/futures-rise-ahead-economic-data/[02-Jun-2010 6:03:53 PM]
Housing Entices Bulls; Dow Soars 226 - FOXBusiness.com The group was helped by a rise in oil prices as crude gained 28 cents a barrel, or 0.39%, to $72.86. Also, the euro stabilized against the daollar, gaining 0.3% to $1.2240. Gold slid $4.20 a troy ounce, or 0.34%, to $1,222.60. Meanwhile, auto makers reported their monthly sales figures for the month as the industry continues to recover from the recession. Ford (F) said its May U.S. sales grew by 22% from a year earlier, led by a 28% jump at the Ford brand. General Motors said its core brands posted a 32% rise in sales in May from a year ago, while Chrysler enjoyed a 33% rise in sales, topping 100,000 units for the first time in 14 months. Toyotas (TM) sales grew by less, rising 6.7% from the year before as the auto maker continues to struggle in the wake of its safety issues. Corporate Movers American International Groups (AIG) $35.5 billion sale of its Asian life insurance business to the U.K.s Prudential PLC has officially collapsed, ending what was nearly the largest acquisition ever in the industry. AIG rejected Prudentials lowered, $30 billion offer. AIG is weighing its options but may go back to plan A: an initial public offering of stock in Hong Kong. AIG CEO Robert Benmosche was one of the only people in the AIG boardroom in favor of the revised deal, according to The Wall Street Journal . General Electric (GE) has finalized an exit package for NBC Universal chief Jeff Zucker that calls for him to leave a couple of months after Comcast (CMCSA) closes its agreement to acquire a 51% stake in the media giant from GE and Vivendi, the New York Post reported. The deal would give Zucker roughly $30 million to $40 million. Ford (F) announced plans to phase out its Mercury brand during the fourth quarter of 2010 and expand its Lincoln lineup. The auto maker said it plans six new or refreshed Lincoln vehicles within the next four years and it plans to put more emphasis on its Ford brand. AT&T (T) announced a long-awaited dataphone-tethering plan that allows consumers to use their cell phones, including iPhones, as modems. Global Markets The U.K.'s FTSE 100 slid 0.23% to 5151.32, France's CAC 40 fell 0.05% to 3501.50 and Germany's DAX was down 0.01% to 5981.20. In Asia, Tokyo's Nikkei 225 closed down 1.12% to 9603.24, Hong Kong's Hang Seng slipped 0.13% to 19471.80 and China's Shanghai Composite gained 0.12% to 2571.42.
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http://www.foxbusiness.com/story/markets/futures-rise-ahead-economic-data/[02-Jun-2010 6:03:53 PM]
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Dow up 226; energy shares lead market
Upgrades for Halliburton and Schlumberger set off a rally in energy stocks. Tax credits boost home-sale contract signings. Auto sales beat estimates.
Posted by Elizabeth Strott and Charley Blaine on Wednesday, June 2, 2010 8:54 AM
Updated at 4:40 p.m. ET U.S. stocks rallied strongly today on a rebound in energy shares and stronger-than-expected reports on May auto sales and pending home sales.
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The rebound came after two down days where most of the declines came in the last hour of trading. The Dow Jones industrials ($INDU) jumped 226 points, or 2.3%, to 10,250. The Nasdaq Composite Index ($COMPX) added 59 points, or 2.6%, to 2,281. The Standard & Poor's 500 Index ($INX) was up 28 points, or 2.6%, to 1,098. The rally was powered by a big gain in energy shares, especially oilservice stocks. Halliburton (HAL) was the S&P 500 leader, jumping 12% to $23.68. Schlumberger (SLB) rose 8.8% to $56.31. Morgan Stanley rates both as strong short-term buys. Read More...
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Energy shares rebound from Tuesday swoon
Halliburton leads the sector higher despite contined struggles to contain the BP oil spill. Crude oil moves up.
Posted by Charley Blaine on Wednesday, June 2, 2010 1:46 PM
A day after investors dumped any kind of stock in the world of energy, all things energy were the day's play. Even BP (BP) was higher. Partly, the gains were due to higher oil prices. Crude was up $1.17 to $73.75 a barrel. Oil-service stocks were the big winners on the day,
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http://articles.moneycentral.msn.com/Investing/Dispatch/default.aspx?feat=1764796&gt1=33002[02-Jun-2010 6:07:01 PM]
Latest Dispatches- MSN Money and energy was the strongest sector of the Standard & Poor's 500 Index ($INX). See what a better broker can do for you Halliburton (HAL) was the leader among larger energy stocks, up 10.6% to $23.40. Schlumberger (SLB) was up 7% to $55.36. Both were upgraded as good short-term buys today by Morgan Stanley. Read More...
Join the discussion! (1 comments) Most Recent Dispatches Energy shares rebound from Tuesday swoon Automakers' sales rev up Dow up 226; energy shares lead market Stock futures climb after Tuesday's drop Ahead for Wednesday: Buffett, auto sales More ...
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Analysts expect carmakers to show a strong May. Ford, GM and Chrysler zoom past expectations.
Posted by Elizabeth Strott on Wednesday, June 2, 2010 11:30 AM
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Updated: 2:35 p.m. Buyers went out to showrooms in May, producing a strong month for the U.S. automakers, with General Motors, Chrysler and Ford Motor (F) beating analysts' sales expectations. Toyota Motor's (TM) U.S. sales were just short of estimates. Overall sales for the major manufacturers were up an average 22.5% from a year ago and 11% from April. GM this morning said U.S. sales rose 16.6% in May to 223,822 from a year ago. Analysts had expected a 5.9% increase last month. Read More...
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Readers' Choice Rating 4.17 4.02 4.02 3.99 3.96 Top 5 Articles Euro crisis is tip of the iceberg 5 billionaires living below their means In Europe, recklessness wins again The joys of a $5,000 used car Apple sets off war of tech giants
Stock futures climb after Tuesday's drop
S&P and Nasdaq futures gain before reports on home and car sales. Investors prepare for 2 key unemployment reports.
Posted by TheStreet Staff on Wednesday, June 2, 2010 7:57 AM
View all Top-Rated articles Editors' Choice Bing: Should you convert your IRA to a Roth? The $555,000 student loan debt Do you know your credit score range? Video: What Wall Street reform means to you New do-it-yourself credit cards Business on Main: Own a small-business, retire big?
By Melinda Peer, TheStreet Updated at 8:29 a.m. ET U.S. stock futures were pointing to a higher open today, a day after major U.S. indices lost more than 1%. Futures for the S&P 500 ($INX) were up 5.2 points at 1,074.7 and were 4.79 points above fair value. Futures for the Dow Jones Industrial Average ($INDU) were rising 46 points to 10,065 and were 48 points above fair value. Futures for the Nasdaq ($COMPX) were up 13.5 points and were 9.7 points above fair value. U.S. stocks dropped Tuesday as mixed global manufacturing data shook investor confidence. In Japan, Prime Minister Yukio Hatoyama resigned in a bid to improve his partys chances in an election next month. Hatoyamas popularity suffered over a broken campaign promise to move a U.S. Marine base. Read More...
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Ahead for Wednesday: Buffett, auto sales
The Oracle of Omaha will discuss Moody's role in the 2008 market crash. Auto sales should show a small gain.
Posted by Charley Blaine on Tuesday, June 1, 2010 8:18 PM
Berkshire Hathaway (BRK.A) CEO Warren Buffett goes to Washington on Wednesday, but his appearance comes with a twist. If he'd had his druthers, he wouldn't appear at all. In fact, it took a subpoena to get him to testify before the Financial Crisis Inquiry Commission. Buffett's appearance is one of two big events on the day. The other is automakers' reports of May sales. The reports are expected to be good -- but not great. Read More...
RadioShack jumps on buyout talk
Blackstone Group is reportedly interested in taking the consumer-electronics chain private. Kohlberg Kravis and others may also bid.
Posted by Charley Blaine on Tuesday, June 1, 2010 1:37 PM
RadioShack (RSH) was the top performer among stocks in the Standard & Poor's 500 Index ($INX) after the New York Post said buyout firm Blackstone Group (BX) was a leading bidder for the consumer-electronics chain. RadioShack was up 4.4% to $21.34. It had been up as much as 10% right after the open. Is your stock a solid pick? Sources told the Post that Kohlberg Kravis Roberts & Co., Bain Capital Partners and TPG are also likely to be involved in the bidding. RadioShack, which may sell itself for as much as $3 billion, is looking to complete the deal this summer, the newspaper said. Read More...
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Stocks rally 2% on energy boost

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Stocks rally 2% on energy boost Cheaper plans for iPhone, iPad Senators push BP to suspend dividend
NEW YORK (CNNMoney.com) -- U.S. stocks rallied on Wednesday, fueled by a rebounding energy sector, as investors regained confidence following the previous session's huge sell-off. The Dow Jones industrial average (INDU) rose 225.5 points, or 2.3%. The S&P 500 index (SPX) added 28 points, or 2.6%, and the Nasdaq composite (COMP) rallied 59 points, or 2.6%. On Tuesday, stocks ended sharply lower, with most of the decline coming in the final hour of trading as investors overlooked better-thanexpected economic reports and instead worried about the global economic recovery. "We're going to keep seeing big swings like this," said Harry Clark, CEO of Clark Capital Management Group. "It's going to be a choppy market for the rest of the summer." Big movers: Gains were broadbased on Wednesday, with energy stocks leading the way.
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All of the Oil and Natural Gas Index's 24 components posted gains, while the Amex Oil Index added 3%, with all 12 of its components also rising. Halliburton (HAL, Fortune 500) jumped 12%, Schlumberger (SLB) rose nearly 9% and Andarko (APC, Fortune 500) added more than 5%. BP (BP) rose 3%. On Tuesday, energy shares declined - with BP plunging 15% - after the company's latest attempt to plug the oil spill in the Gulf of Mexico failed and Attorney General Eric Holder said there would be a criminal investigation of the spill. "BP's existence came into question yesterday," said Clark. "Investors put all the other oil companies in the same barrel with BP, but now they're realizing that BP made a mistake but the other companies are doing well."
http://money.cnn.com/2010/06/02/markets/markets_newyork/index.htm[02-Jun-2010 6:12:28 PM]
Transocean (RIG), the operator of the Deepwater Horizon rig that exploded in the Gulf, was an exception, falling more than 3% after dropping 12% on Tuesday. Technology shares also advanced Wednesday, with IBM (IBM, Fortune 500), Intel (INTC, Fortune 500) and United Technologies (UTX, Fortune 500) all gaining more than 2%. "Tech has been a laggard, but now people seem to be realizing that tech stocks in general are undervalued and are good buys," said Clark. Economy: The National Association of Realtors said its pending home sales index, a measure of sales contracts for existing homes, rose 6% in April after climbing 5.3% in March. The jump beat the 4.3% increase economists surveyed by Briefing.com had expected. Despite the positive report, economic data has had little impact on the market recently, said Clark. "The whole theme right now is that the market is being driven minute by minute by news, the fundamentals just don't matter," he said. "But the economy is recovering, so the market will have to eventually respond to that." Outplacement firm Challenger, Gray and Christmas said employers announced plans to cut 38,810 jobs in May, a 1.3% rise from April's fouryear low. However, job cuts were 65% lower than the same month in 2009. Companies: General Motors and Ford Motor (F, Fortune 500) both posted large increases in May sales of the brands they retain, with GM reporting a 32% gain in sales and Ford reporting a 23% increase. Toyota Motor's (TM) sales rose 7%. "They really helped the idea that the economy isn't falling off a cliff and that there's definitely still demand out there," said Nick Kalivas, vice president of financial research at MF Global. Ford rose about 4% on Wednesday, while Toyota slipped nearly 1%. The Financial Crisis Inquiry Commission held the latest in a series of hearings on the role of ratings agencies in the market collapse of 20082009. Warren Buffett, the widely respected investor and chief executive of Berkshire Hathaway (BRKA, Fortune 500), was among the witnesses. Several representatives of ratings agency Moody's (MCO) were also in attendance. World markets: In Asia, Japan's Nikkei index slid 1.1% after the nation's prime minister resigned. Hong Kong's Hang Seng index edged lower. European markets ended mostly lower, although well off the day's lows. London's FTSE 100 slipped 0.2%, Paris' CAC 40 fell 0.1% and Frankfurt's DAX was flat. Dollar and commodities: The euro rose against the dollar to $1.2241, bouncing back from the four-year low touched the day before. The dollar edged lower against the British pound and rose more than 1% versus the Japanese yen. U.S. light crude oil for July delivery turned higher, climbing 28 cents to settle at $72.86 a barrel.
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COMEX gold's August contract dropped $4.30 to settle at $1,222.60 per ounce. Bonds: Treasury prices were lower, pushing the benchmark 10-year note's up to 3.34% from 3.26% late Tuesday. Bond prices and yields move in opposite directions.
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Log in to Facebook to post your comment John Smith 2:38 pm The real reason people are buying more ipads, ipods and other electronic crap is they are no longer paying their mortgage. ST. PETERSBURG, Fla. For Alex Pemberton and Susan Reboyras, foreclosure is becoming a way of life something they did not want but are in no hurry to get out of. Foreclosure has allowed them to stabilize the family business. Go to Outback occasionally for a steak. Take their gas-guzzling airboat out for the weekend. Visit the Hard Rock Casino. Instead of the house dragging us down, its become a life raft, said Mr. Pemberton, who stopped paying the mortgage on their house here last summer. Its really been a blessing. A growing number of the people whose homes are in foreclosure are refusing to slink away in shame. They are fashioning a sort of homemade mortgage modification, one that brings their payments all the way down to zero. http://finance.yahoo.com/news/Owners-Stop-Paying-Mortgage-nytimes4276925797.html?x=0&sec=topStories&pos=7&asset&ccode
John Smith 2:35 pm One of the most famous quotations of Austrian economist Ludwig von Mises is that There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of a voluntary abandonment of further credit expansion or later as a final and total catastrophe of the currency involved. In fact, the US economy is in a downward spiral of debt deflation despite the bold actions of the federal government and of the US Federal Reserve taken in response to the financial crisis that began in 2008 and the associated recession. Although the vicious circle of debt deflation is not widely recognized,

precisely what von Mises described is happening before our eyes. http://beforeitsnews.com/story/71/318/Into_the_Abyss:_The_Cycle_of_Debt_Deflation.ht
John Smith 2:27 pm This is how the market responds to a day fully replete with good news, and even more volume participation: three days worth of trading undone in one hour. The 20-day daily average cumulative volume in ES is 3.15 million. We closed 2.17 million, or 31% lower. Lesson for the day: when the machines are in "distribution" mode, you get out of the way. Especially with Obama about to announce 1 million newly employed people despite 450k+ consistent initial weekly claims. After all what good is the upcoming 0.5 million Birth-Death adjustment for if you can't use it to top off the 0.5 million new census hiring. And another indication of market efficiency: APC stock up 5%, even as its CDS closed +116 wider. Add imminent threat of bankruptcy to the list of upside stock drivers. http://www.zerohedge.com/article/volumeless-distribution-day-marketefficiency-defined-anadarko-cds-100-wider-stock-closes-5-
Julie Dee Bell-Lanier 2:21 pm What a joke. Halliburton (HAL, Fortune 500) jumped nearly 12% Does it really matter that Halliburton may be the blame for this? Be aware of the truth, before you move your stocks. A veteran industry source told UpstreamOnline that the news about the flow path almost certainly confirms what many suspected, that problems with the annular cement around the production casing played a part in the blowout' The industry knows. Investigations already show this. Halliburton will pay BP for this. And so will Transocean. http://www.upstreamonline.com/live/article216360.ece;jsessionid=9231632A199D7DB078 Also, Transocean and Halliburton defected from the US, Is Transocean really Swiss? Is Halliburton really offshore? Its the Brits who have stood up for the US. DrJulie
Timothy Brown 1:58 pm Wow Dow up 225 points. The guy on TV said the market was oversold. Oversold? I don't know I was trying to see the hype here but there seems to be over 1,000,000 U.S vehicle sales in the past year according to all the sales releases today. That is very impressive. Either that is 1 new vehicle for every 300 man women and children in this country or 1 vehicle for every 6,800 ppl in the world or those numbers are just the numbers sold to the car lot owners. Wonder how many were actually sold to the consumer public? It is hard for me to believe (and there are other car producers like in India and China too now right) that 1 out of every 300 ppl (these numbers would include new born children and ppl in hospital beds) bought a new vehicle this year) I wonder what the numbers are like in a good year? Oh and does anyone know what happens to the new cars that don't get sold each year? I mean they must disappear somehow. Something about these car sales numbers to me just don't sound realistic.
Giosue' Lorenzo Campi 1:45 pm be carefull...it's just a bounce...if it had been a true trend would have been at 1.25 today. Next days DJ30 will close steady below 10000. All new absolute lowes within 18-24 months.Be ready. Buy gold and in the long.
Brad Gagner 1:23 pm Sounds like someone made a "phone call". And sorry to burst you bubble CNN, but a 225 point climb is hardly a "tear"... We'll see what these clowns do tomorrow.
Facebook User 12:47 pm Everyday, we are asked to give to save our "economy". But was that you or I that was helped? The media wants you to think so. But in actuality, it was the top 10% of our society that benefited from the bailouts the most. It is very disgusting to watch them now reap billions in profits from our tax dollars all the while unemployment creeps towards 10%. If you want to get some of that money back or just learn how to make money in the market like the rich do...read on...if you like being poor and giving your money to the rich...then stop reading here. GOOGLE "SLICK BUDGET" One word or two...does not matter AND CLICK THE FIRST LINK...it will have the same name and hook you up with some serious good things. Go and check out the "PENNY STOCKS" and "LOANS" sections for some great

info the rich don't want you to know. http://www.slickbudget.com/
Elliott Waveman 9:53 am Plenty of downside in stocks ahead as summer foreclosures in the housing markets this time drive the financial institutions over the cliff... http://www.thepanicnews.com/2010/04/24/will-robert-shillers-home-pricesindex-ever-stop-falling-the-u-s-government-is-still-supporting-the-ponzischeme-that-will-continue-to-drag-home-prices-lower/ http://www.thepanicnews.com/2010/05/17/meredith-whitney-says-that-s3217-restoring-american-financial-stability-act-of-2010-will-kill-small-banksand-hurt-small-business/
Lord Linus 9:46 am of course they would get a lift from Haliburton with BP and the entire southern coast of the United States being destroyed
First Published: June 2, 2010: 9:39 AM ET
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MUMBAI, June 2, 2010
Auto stocks drive Sensex up by 170 points

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The Bombay Stock Exchange benchmark Sensex on Wednesday recovered by 170 points on the back of buying support in shares of auto and telecom companies. The Sensex, which lost 372.60 points in the previous session, bounced back by 169.81 points to 16,741.84 as heavyweight stocks led by Reliance Communication surged on sustained buying. The broadbased National Stock Exchange index Nifty rose by 49.65 points to 5,019.85. The upsurge in the market was supported by auto stocks, a day after most of the vehicle manufacturers posted robust sales in May. Anil Ambani group company Reliance Communication gained 11.02 per cent following reports that Emirates Telecommunication is in advanced talks to buy a stake in it. Shares of Bharti Airtel, another leading mobile operator, rose by 5.16 per cent to Rs 270.20.
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http://beta.thehindu.com/business/markets/article444241.ece[02-Jun-2010 10:12:39 PM]
The Hindu : Business / Markets : Auto stocks drive Sensex up by 170 points
Tata Motors, the owner of Jaguar Land Rover, climbed 2.60 per cent, Hero Honda 3.28 per cent and Maruti Suzuki 1.74 per cent. In the 30-BSE components, 23 stocks closed with gains, while six ended with losses. However, NTPC remained unchanged at Rs 197.50. All sectoral indices, led by tech, auto and realty, remained in the positive zone. The tech sector index gained the most, rising 1.95 per cent to 3,147.30, followed by the auto sector index, which gained 1.74 per cent to 7,728.32. The realty sector index rose by 1.33 per cent to 3,046.43 and the capital goods index by 1.14 per cent to 13,572.57. With buying activity spread over a wide front, the midcap sector index rose by 0.85 per cent to 6,800.97 and the smallcap index by 0.79 per cent to 8,529.45. Keywords: markets, Sensex, BSE
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The Hindu : Business News : Sensex regains 17,000 level as banking, refinery stocks rally Archives Subscriptions RSS Feeds Site Map ePaper
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Sensex regains 17,000 level as banking, refinery stocks rally

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Nano rolls out of Sanand plant CitiFinancial to be recast, to get new name India and China preferred FDI destinations: E&Y Volkswagen unveils sedan Vento at Wolfsburg manufacturing facility BWA: price crosses Rs. 8,500 crore Indian biotech sector rebounds on global recovery Huawei will address security concerns' Gold falls from record level to Rs 19,010 Food inflation rises to 16.55 per cent High gold prices deter buyers
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The Bombay Stock Exchange benchmark Sensex on Thursday regained the 17,000 points-level on sustained buying of banking and refinery stocks by funds and firm global cues. The Sensex, which had gained 170 points in the previous session, rose further by 280.49 points to settle at 17,022.33, a level last seen on May 13. The benchmark index rose to touch an intra-day high of 17,072.63 as investor confidence rose on the back of reports of higher US home sales, even though inflation at home increased. The wide-based National Stock Exchange index Nifty rose by 90.65 points to 5,110.50 after touching the days high of 5,125.70. A firming trend in the Asian region and the higher opening in Europe influenced the trading sentiment. The US Dow Jones Average spurted by 225.90 points to 10,249.92 last night on reports of strong US home sales, sending firm signals to Asian and European markets this morning.
It's the fifth edition of a global effort to iron out issues in telecommunications and allied technology. A few images from the World Telecommunication Development Conference, or WTDC for short, now under way at the International Convention Centre in Hyderabad. more slideshows
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http://beta.thehindu.com/business/article445249.ece[03-Jun-2010 8:14:01 AM]
The Hindu : Business News : Sensex regains 17,000 level as banking, refinery stocks rally
Higher vehicle sales on the home-front further boosted the trading sentiment and reduced the impact of a rise in food inflation as per data released on Thursday. All the 30-BSE index components ended in the green, with stocks in the banking, tech, oil and gas and information technology sectors leading the rally. Sensex heavyweight Reliance Industries shot up by Rs 19.25 to Rs 1,031.15, while Infosys Technnologies scrip rose by Rs 52,80 to Rs 2,697. HDFC Bank spurted by Rs 51.15 to Rs 1,906.15 and SBI by Rs 27.55 to Rs 2,286.50. These four companies account for nearly 37 per cent of the weightage on the index. The banking sector gained the most, rising 1.99 per cent to 10,687.05, followed by the tech index by 1.89 per cent to 3,206.93. The oil and gas sector index was the third best performer, rising 1.71 per cent to 10,163.30. Keywords: Sensex, BSE, markets, Dow Jones, Hang Seng, Nikkei
of Auto Show South 2010, which is being held at Cyberabad, near Hyderabad from May 14, 2010. Photos: P. V. Sivakumar more slideshows
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Sensex extends gains for third day led by FMCG, auto

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The Bombay Stock Exchange benchmark Sensex rose by over 95 points on Friday on heavy buying of FMCG and auto stocks. The Sensex, which gained 450 points in the last two trading sessions, advanced further by 95.36 points to 17,117.69 after touching a high of 17,150.42. The gauge has risen for the third straight day and 1.4 per cent this week. The wide-based National Stock Exchange index Nifty rose by 25 points to 5,135.50, after touching the days high of 5,147.90.
The Hindu : Business / Markets : Sensex extends gains for third day led by FMCG, auto
The upsurge in the market was backed by strong demand for Hindustan Unilever, a household products maker, which climbed to a four-month high after its board said it will consider buying back shares. The index-related Hindustan Unilever, a unit of the worlds second-largest consumer-goods maker, advanced 1.74 per cent to Rs 251.50, near its highest close since January 28. Led by Maruti Suzuki, auto stocks also gained following reports that automakers will invest an estimated 30 billion dollar during the next four years as demand rises. Maruti climbed 2.64 per cent to Rs 1,331.05. A mixed trading pattern in Asia and a higher opening in European stock markets on Friday afternoon also bolstered the trading sentiment on hopes that an early solution to the deficit crisis there might bring the global economic recovery back on track. In the 30-BSE index component, 19 stocks advanced, while ten closed lower. NTPC remained unchanged. Keywords: Sensex, BSE, stocks, markets
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Gold spurts Rs 430 to set new record of Rs 19,070 per 10 gram - India Business - Business - The Times of India
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Gold spurts Rs 430 to set new record of Rs 19,070 per 10 gram

PTI, Jun 5, 2010, 03.56pm IST
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NEW DELHI: Gold prices today jumped Rs 430 to an all-time high of Rs 19,070 per ten grams in the bullion market here as investors rushed for the metal, considered as a safe bet, after global equity markets crashed on concerns over worsening eurozone debt crisis. Trading sentiment turned extremely bullish after gold in overseas markets rebounded from a oneweek low as investors opted to buy less riskier assets against melting stocks and forex markets. The euro dropped below 1.20 dollar for the first time since March 2006 on mounting concerns that Europe's sovereign-debt crisis would spread to
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global markets. Panic sparked after a spokesperson for Hungarian Prime Minister said his nation's economy is in a "very grave situation." The US and European equities and commodities retreated the most in a week. Fearing the worsening eurozone debt crisis might slowdown global economy, investors rushed to buy gold as an alternate place to park their funds, marketmen said. Gold in global markets, which normally sets price trend on the domestic front, jumped up by 12.20 dollar to 1,220.00 dollar an ounce. The ripples were felt in domestic market here as pure gold (99.9) surged by Rs 430 to set a new peak of Rs 19,070 per ten gram. The gold with 99.5 purity shot up by Rs 420 to Rs 18,970 per ten gram. Sovereign followed suit and traded higher by Rs 50 to Rs 14,650 per piece of eight gram. However, silver ready lacked necessary buying support and shed Rs 75 to Rs 28,825 per kg and weekly-based delivery by Rs 170 to Rs 28,425 per kg. However, silver coins remained unchanged
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The Hindu : Business / Markets : Sensex vaults 255 points to regain 17,000-level Archives Subscriptions RSS Feeds Site Map ePaper
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Sensex vaults 255 points to regain 17,000-level

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BSE Sensex through the week
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The BSE benchmark Sensex regained its psychological 17,000 level by surging 255 points on persistent buying mainly in auto, FMCG and PSU counters on robust GDP growth, strong auto and cement sales and recovery in the world stock markets. Better-than-expected performance by manufacturing, mining and quarrying industries helped the Indian economy grow by a healthy 8.6 per cent in the last quarter of 2009-10, boosting the market to some extent. The gross domestic product (GDP) grew at 7.4 per cent for 2009-10, higher than the February projection of 7.2 per cent. Auto stocks were in the limelight after unveiling robust sales figures for May 2010. Shares of Indias second-largest listed cellular services provider by sales Reliance Communications (RCom) gained 14.04 per cent on reports the company was considering a merger with South Africas MTN Group or roping in a strategic foreign investor to fund its foray into 3G services. Business activity remained strong for Indias vast services sector in May 2010, with a key gauge growing for a 13th consecutive month.
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The Hindu : Business / Markets : Sensex vaults 255 points to regain 17,000-level
The 30-issue Sensex opened higher at 16,872.17 and shot further to 17,150.42 before ending the week at 17,117.69, a net rise of 254.63 points, or 1.51 per cent, from its last weekends close. U.S. stocks rallied during the week as investors rushed back into beaten-down shares. Keywords: Sensex, market review, BSE, stock exchange
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The Hindu : Business / Markets : Sensex surges 264 points on firm global cues Archives Subscriptions RSS Feeds Site Map ePaper
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Sensex surges 264 points on firm global cues

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REASON TO CHEER:Brokers said a higher trend in the Asian region and European stocks recovering from initial losses fuelled the trading sentiment on the domestic markets. File photo: Shashi Ashiwal
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The Bombay Stock Exchange benchmark Sensex on Thursday closed 264 points higher on buying by funds in bluechips led by auto and metal stocks in tandem with a recovery in global markets. The 30-share barometer spurted by 264.19 points to close at 16,922.08 points. The index had gained 41 points in the previous session. The broad-based National Stock Exchange index Nifty rose by 78.30 points to close at 5,078.60 points. Brokers said a higher trend in the Asian region and European stocks recovering from initial losses fuelled the trading sentiment on the domestic markets. Even as food inflation rose to 16.74 per cent for the week ended May 29, the market remained bullish as investors bought shares in companies whose earnings might benefit from the nations economic expansion, they added. Among the 30 index stocks, 29 stocks ended with handsome gains. Major support to the market came in from shares in Auto, metal, realty and power sectors.
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The Hindu : Business / Markets : Sensex surges 264 points on firm global cues
The auto sector index gained the most by rising 2.98 per cent to 7,940.31 as stocks of Tata Motors, Maruti Suzuki, Bajaj Auto, Hero Honda and Mahindra and Mahindra closed higher following reports that the industry recorded highest sale during May. The metal sector index was the second best performer by adding 2.12 per cent to 14,400.09 on firming trend in base metals in overseas markets. Market leader Reliance Industries rose by 0.85 per cent to Rs 1,015.45 following reports that the company is planning to foray into telecom sector. Infosys Technologies, the second heaviest on benchmark, rose by 0.74 per cent to Rs 2,646.95. Among the Asian markets, Tokyo closed 1.10 per cent higher as the official data showed that the Japanese economy grew better than expected 5 per cent in the first quarter of 2010. Hong Kongs Hang Seng Index rose 11.46 points to 19,632.70 after Chinas exports surged 48.5 per cent in May. Keywords: stock markets, BSE, Sensex, Indian economy, stocks close
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Markets Enjoy Early Rally on Data, Euro - FOXBusiness.com
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Markets Enjoy Early Rally on Data, Euro

0 Comments Add Comment By Matt Egan FOXBusiness There's No Business Like FOX Business Wall Street kicked off Thursdays session in a good mood and with the Dow jumping above the 10000 mark as the markets cheered a rally in the euro and signs Chinas economic recovery has not derailed. Todays Markets As of 9:33 a.m. ET, the Dow Jones Industrial Average jumped 174.27 points, or 1.76%, to 10075.19, the Standard & Poor's 500 added 17.46 points, or 1.65%, to 1073.78 and the Nasdaq Composite added 37.13 points, or 1.72%, to 2196.17. The FOX 50 gained 12.84 points, or 1.65%, to 790.74. Market participants will be watching to see if Wall Street can sustain the early bullishness as the markets have been subject to late-day reversals throughout this week, including one on Wednesday that wrecked a triple-digit rally on the Dow. Wednesdays optimism was driven by a stronger-than-expected surge in Chinese May exports and the euro soaring well above a key technical level. Each of these developments increased the markets appetite for risky assets, including stocks and commodities. Its creating some relief of slower growth fears, Nick Kalivas, vice president of financial research at MF Global, said of the Chinese data. Wall Street also benefited from a surge in BPs (BP) beaten-down stock and in-line data on initial jobless claims. The rally began overnight as the Chinese government said its exports soared 48.5% in May compared to the year before, the biggest jump in six years and confirmation of a Reuters report on Wednesday that triggered a buying binge. The data helped ease worries that China could be suffering a double-dip recession. At the same time, the euro experienced a rare rally and soared above the key $1.20 level in the wake of successful debt sales by Spain and Italy and after both the Bank of England and the European Central Bank left interest rates unchanged. Jean-Clean Trichet, the ECB president, said the banks purchases of euro zone bonds was aimed at market dysfunction and he expects the economy to grow at a moderate pace. The euro, which has plunged amid fears about the continents sovereign debt, jumped 0.95% to $1.2094. A stronger euro tends to boost market sentiment and provide relief to dollar-traded commodities and multinationals that rely on a weaker greenback. Crude oil jumped $1.00 a barrel, or 1.36%, to $75.38. Copper gained 0.46% to $2.8625. Hurt by the better sentiment, gold sank $6.50 a troy ounce, or 0.54%, to $1,223.30. Wall Street was also boosted by BP, which saw its shares soar off 14-year lows after the oil major said it saw no reason for the latest plunge in its stock. The company said it is in a strong position to pay liabilities related to the giant oil spill in the Gulf of Mexico. The comments also boosted Transocean (RIG) and other stocks involved in the spill. On the economic front, Wall Street responded well to a new Labor Department report showing initial jobless claims fell by an in-line 3,000 last week to 456,000. Continuing claims tumbled by 255,000 to 4.46 million -- the lowest level since Dec. 2008. Also, the Commerce Department said that the U.S. trade deficit widened to $40.3 billion in April, less than the $41.3 billion that economists had forecasted. Exports fell 0.7% to $148.8 billion. Corporate Movers ARM Holdings (ARMH) jumped 14% on rumors that Apple (AAPL) may be interested in purchasing the British technology company. ARM makes semiconductors that are used in Apple's iPhone. Del Monte (DLM) beat the Street with EPS of 36 cents, compared to estimates for just 22 cents. The food companys revenue fell 9.8% to $954 million, missing the Streets view of $1 billion. Del Monte also boosted its dividend by 80% to 9 cents a share. Global Markets The U.K.'s FTSE 100 was up 0.04% to 5087.83, France's CAC 40 added 0.62% to 3468.11 and Germany's DAX rose 0.32% to 6004.07. In Asia, Tokyo's Nikkei 225 jumped 1.1% to 9542.55, Hong Kong's Hang Seng closed up 0.06% to 19632.70 and China's Shanghai Composite fell 0.82% to 2562.58.
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Stocks surge at open

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Don't expect energy reform Stocks surge at open Ongoing jobless claims plummet to 17-month low
NEW YORK (CNNMoney.com) -- U.S. stocks surged at Thursday's open, with the Dow posting triple digit gains, rebounding from a downturn triggered by the energy sector during the final hours of the previous session. The Dow Jones industrial average (INDU) added 172 points, or 1.7%. The S&P 500 index (SPX) gained 19 points, or 1.8%, and the Nasdaq composite (COMP) rose 31 points, or 1.4%. U.S. stocks slumped Wednesday after investors fled energy shares. The Dow fell 0.4%, the S&P 500 lost 0.6% and the Nasdaq declined 0.5%.
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Economy: A report showed that jobless claims fell 3,000 to 456,000 last week. Economists surveyed by Briefing.com expected filings to slide to 450,000. Meanwhile, the number of people filing for ongoing unemployment insurance plummeted by 255,000 to the lowest level since December 2008.
The Commerce Department said the trade deficit increased 0.6% in April, widening to $40.3 billion from a downwardly revised $40.0 billion the previous month. That was lower than the $41.3 billion that analysts surveyed by Briefing.com expected.
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The Treasury budget for May is slated for release at 2 p.m. ET. Companies: BP (BP) said Thursday that there was no justification for the sharp drop in its U.S. stock price in the previous day's trading. The shares sank 16% in New York Wednesday. The company's stock rebounded Thursday, up nearly 10%. World markets: European markets rose in afternoon trading. France's CAC 40, the DAX in Germany and Britain's FTSE 100 posted modest
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gains. Stocks in Asia mostly gained. Japan's benchmark Nikkei index jumped 1.1% and the Hang Seng in Hong Kong finished the session a shade higher. Dollar and commodities: The dollar was lower against the euro and the British pound, but the greenback rose versus the Japanese yen. U.S. light crude oil for July delivery rose $1.30 to $75.68 a barrel. COMEX gold's August contract fell $6.10 to $1,222.70 per ounce. Bonds: Treasury prices were slightly higher, pushing the benchmark 10year note's yield down to 3.21% from 3.22% late Wednesday. Bond prices and yields move in opposite directions.
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Dow Jumps 200, Retakes 10000 on Data, Euro - FOXBusiness.com
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Dow Jumps 200, Retakes 10000 on Data, Euro

0 Comments Add Comment By Matt Egan FOXBusiness There's No Business Like FOX Business The Dow soared more than 200 points Thursday morning and recaptured the 10000 threshold as Wall Street 's hunger for risk returned with intensity amid strong Chinese growth figures, a soaring euro and easing strains in European credit markets. Todays Markets As of 10:11 a.m. ET, the Dow Jones Industrial Average jumped 222.95 points, or 2.25%, to 10123.56, the Standard & Poor's 500 added 24.10 points, or 2.28%, to 1079.79 and the Nasdaq Composite added 39.87 points, or 1.85%, to 2198.48. The FOX 50 gained 15.68 points, or 2.02%, to 793.58. Market participants will be watching to see if Wall Street can sustain the early bullishness as the markets have been subject to late-day reversals throughout this week, including one on Wednesday that wrecked a triple-digit rally on the Dow. Wednesdays optimism was driven by a stronger-than-expected surge in Chinese May exports, upbeat data in Japan and Australia, the euro soaring well above a key technical level and easing of credit default swap spreads in Europe. Each of these developments increased the markets appetite for risky assets, including stocks and commodities. Youve got a constructive data set overnight which is being supported further by some credit market conditions that have been getting better. All of it is giving people an excuse to move back into risk assets like stocks, said Craig Peckham, equity trading strategist at Jefferies & Co. Wall Street also benefited from a surge in BPs (BP) beaten-down stock and in-line data on initial jobless claims. All 30 blue-chip stocks were in the green, led by economically-sensitive Caterpillar (CAT) and DuPont (DD). Energy giant Chevron (CVX) and Walt Disney (DIS) also drew heavy buying. The index's worst performers were Wal-Mart (WMT) and Cisco Systems (CSCO). The markets took a late-day tumble on Wednesday, wiping out a gain of as much as 124 points that had also been fueled by upbeat economic sentiment. Were getting conditioned to late-day selloffs and Friday selloffs, said Peckham. Thats consistent with a marketplace still jittery about what kind of surprise it can get overnight. The rally began overnight as the Chinese government said its exports soared 48.5% in May compared to the year before, the biggest jump in six years and confirmation of a Reuters report on Wednesday that triggered a buying binge. The data helped ease worries that China could be suffering a double-dip recession. Its creating some relief of slower growth fears, Nick Kalivas, vice president of financial research at MF Global, said of the Chinese data. At the same time, the euro experienced a rare rally and soared above the key $1.20 level in the wake of successful debt sales by Spain and Italy and after both the Bank of England and the European Central Bank left interest rates unchanged. Jean-Clean Trichet, the ECB president, said the banks purchases of euro zone bonds was aimed at market dysfunction and he expects the economy to grow at a moderate pace. The euro, which has plunged amid fears about the continents sovereign debt, jumped 1.12% to $1.2113. A stronger euro tends to boost market sentiment and provide relief to dollar-traded commodities and multinationals that rely on a weaker greenback. Crude oil jumped $1.75 a barrel, or 2.35%, to $76.13. Copper gained 1.63% to $2.8970. Hurt by the better sentiment, gold sank $10.50 a troy ounce, or 0.85%, to $1,219.40. The successful bond auction in Spain and Italy helped ease the credit markets in Europe. The cost to insure the debt of Spain, Italy and other high-level debt countries lowered on Thursday amid evidence they can tap the capital markets for cash. Wall Street was also boosted by BP, which saw its shares soar off 14-year lows after the oil major said it saw no reason for the latest plunge in its stock. The company said it is in a strong position to pay liabilities related to the giant oil spill in the Gulf of Mexico. The comments also boosted Transocean (RIG) and other stocks involved in the spill. On the economic front, Wall Street responded well to a new Labor Department report showing initial jobless claims fell by an in-line 3,000 last week to 456,000. Continuing claims tumbled by 255,000 to 4.46 million -- the lowest level since Dec. 2008. Also, the Commerce Department said that the U.S. trade deficit widened to $40.3 billion in April, less than the $41.3 billion that economists had forecasted. Exports fell 0.7% to $148.8 billion. Corporate Movers ARM Holdings (ARMH) jumped 14% on rumors that Apple (AAPL) may be interested in purchasing the British technology company. ARM makes semiconductors that are used in Apple's iPhone. Del Monte (DLM) beat the Street with EPS of 36 cents, compared to estimates for just 22 cents. The food companys revenue fell 9.8% to $954 million, missing the Streets view of $1 billion. Del Monte also boosted its dividend by 80% to 9 cents a share. | Respond to Editor |
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Dow Jumps 200, Retakes 10000 on Data, Euro - FOXBusiness.com Global Markets The U.K.'s FTSE 100 was up 0.04% to 5087.83, France's CAC 40 added 0.62% to 3468.11 and Germany's DAX rose 0.32% to 6004.07. In Asia, Tokyo's Nikkei 225 jumped 1.1% to 9542.55, Hong Kong's Hang Seng closed up 0.06% to 19632.70 and China's Shanghai Composite fell 0.82% to 2562.58.
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Big boost for stocks - Dow gains 273

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NEW YORK (CNNMoney.com) -- A stock rally gained momentum Thursday, with the major indexes hitting highs for the day in the last minutes of trade, as concerns over Europe's debt crisis and its impact on the global recovery were calmed by a sharp boost in Chinese exports and a strengthening euro. The Dow Jones industrial average (INDU) finished up 273 points, or 2.8%. The Dow closed above 10,000 for the first time this week. Shares of Caterpillar (CAT, Fortune 500), Chevron (CVX, Fortune 500) and American Express (AXP, Fortune 500) led the rally, rising about 5%. The S&P 500 index (SPX) gained 31 points, nearly 3%. That was thanks to a bounce in energy shares that dragged on the market during the previous session. Anadarko Petroleum (APC, Fortune 500) climbed 12.4% and Baker Hughes (BHI, Fortune 500) was up 10.6%. The Nasdaq composite (COMP) rose 60 points, or 2.8%. Stocks finished in the red Wednesday, failing to sustain session gains in the last hour of trade, as investors dumped energy stocks amid ongoing worries about BP's ability to weather the costs of the Gulf oil spill.
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But the market rebounded Thursday as investors digested a report verifying a nearly 50% surge in Chinese exports in May compared to a year earlier and a stronger euro after European Central Bank President Jean-Claude Trichet said the central bank would maintain its monetary policy.
Euro leaps vs. dollar

"Trichet is indicating that the European economy will not falter and will not be problematic to the global economic recovery," said Peter Cardillo, chief market economist at Avalon Partners. The ECB president's comments helped push the euro to hold above $1.20
for the first time in a week, and as it spiked as high as 1.4% to stand at $1.2142. "We're seeing the euro stabilize, and while that doesn't mean the crisis is over, there's less fear in the market," Cardillo said. "The easing of that fear is what's responsible for the stampede." Stocks will likely remain in a tight range as long as the euro maintains its strength and boosts investor confidence, said Fred Dickson, chief market strategist at D.A. Davidson & Co. As the concerns over Europe's debt crisis continue to subside, Cardillo said investors appetite for risk will resume and the focus will shift to strong U.S. economic data. Economy: A government report showed that jobless claims fell 3,000 to 456,000 last week. Economists surveyed by Briefing.com expected filings to slide to 450,000. Meanwhile, the number of Americans filing for ongoing unemployment insurance sank by 255,000 to the lowest level since December 2008.
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The Commerce Department said the trade deficit increased 0.6% in April, widening to $40.3 billion from a downwardly revised $40.0 billion the previous month. That was lower than the $41.3 billion that analysts surveyed by Briefing.com expected. The Treasury reported the 20th consecutive monthly deficit, with a $136 billion shortfall in its May budget. Economists were expecting the government's budget to be $142 billion in the red during the month. Companies: BP (BP) said Thursday, day 52 of the oil spill, that it "is not aware of any reason" for the 16% plunge in its stock price during the previous day's trading. The company's stock rebounded Thursday, rising as much as 13%. Shares of ARM Holdings (ARMH) spiked as much as 11% on revived speculation that Apple (AAPL, Fortune 500) would bid for the mobile chip designer. While most bank shares were up with the broader market, Goldman Sachs' (GS, Fortune 500) stock plunged more than 3% to a new 52-week low as investors digested reports that the Securities and Exchange Commission is investigating a mortgage investment Goldman bundled and sold in 2006.
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Wall Street reform: A joint committee of lawmakers convened Thursday to begin hammering out differences and merge the financial reform bills passed in both the Senate and House of Representatives. The Democrats hope a final vote in both chambers will take place before July 4. "Flash crash" fix: The SEC approved new rules Thursday that will halt trading uniformly across all U.S. markets for stocks experiencing 10% price swings within a five-minute period to prevent a repeat of last month's "flash crash." The rules could go into effect as early as Friday, the SEC said. World markets: European markets edged higher. France's CAC 40
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finished up nearly 2% while the DAX in Germany climbed 1.3%. Britain's FTSE 100 also posted gains, rising 0.8%. Stocks in Asia finished mixed. Japan's benchmark Nikkei index jumped 1.1% and the Hang Seng in Hong Kong ended slightly higher. But China's Shanghai composite slipped 0.8%. Dollar and commodities: The dollar dipped against other major currencies. The greenback sank 1.3% against the euro and the British pound. The buck slipped slightly versus the Japanese yen. The weaker dollar pushed U.S. light crude oil for July delivery higher for a third straight session. Oil prices rose $1.10, or 1.5%, to settle at $75.48 a barrel. After climbing to a record high earlier in the week, gold drifted lower for a second session. The precious metal's price dropped $7.70 to settle at $1,220.80 per ounce. Bonds: Treasury prices plunged Thursday, pushing the benchmark 10year note's yield up to 3.32% from 3.22% late Wednesday. Bond prices and yields move in opposite directions. Market breadth: Market breadth was positive. On the New York Stock Exchange, winners beat losers seven to one on volume of 1.3 billion shares. On the Nasdaq, advancers topped decliners 11 to two on volume of 2.1 billion shares.
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Higher crude oil boosts energy shares. BP is a big winner after hitting a 14-year low Wednesday. Jobless claims dip. China confirms big export growth. Goldman Sachs shares slip.
Posted by Charley Blaine on Thursday, June 10, 2010 11:48 AM


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The Dow Jones industrials ($INDU) were up 273 points, or 2.8%, to 10,173. The Standard & Poor's 500 Index ($INX) added 31 points, or 3%, to 1,087. And the Nasdaq Composite Index ($COMPX) jumped 60 points, or 2.8%, to 2,219. Find the best broker for you Helping the big rally: Jobless claims dropped a little, reports from China, Japan and Australia showed accelerating growth. A report showed foreclosures appear to be leveling off, especially in Arizona, California and Florida. And Sen. Harry Reid, D-Nev., proposed allowing buyers who qualified for the homebuyer tax credits in April until Sept. 30 to close their deals. But the biggest reason may have been short-covering. Many traders who had sold stocks short -- especially energy stocks -- in recent weeks were taking profits by buying the shares back. Read More...
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The pause would apply to stocks in the Standard & Poors 500 Index ($INX) and would go into effect as early as Friday. See how the dollar is doing today The SEC said this circuit breaker would give the markets the opportunity to attract new trading interest in an affected stock, establish a reasonable market price, and resume trading in a fair and orderly fashion. The move came in response to a still-unknown glitch in trading last month that caused a flash crash, in which the Dow Jones Industrial Average ($INDU) fell hundreds of points in minutes. The markets recovered just as quickly as they fell, creating a sense of confusion and uncertainty in the markets. Read More...
SEC OKs circuit-breaker rules Foreclosures are leveling off Dow jumps 273; energy leads rebound Panel: Taxpayers still at risk on AIG Gold prices lose steam More ...
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The good news about the foreclosure crisis: U.S. foreclosure filings fell 3% in May from April. The bad news is that bank repossessions set a new monthly record, according to market researcher RealtyTrac. Calculator: How much house can you afford? While the 322,920 filings on U.S. properties were down from April, they were still up 0.5% from a year ago. Bank repossessions hit a record monthly high for the second month in a row, totaling 93,777 -- up 1% from April and 44% from last year. Read More...
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A report says it is not clear if taxpayers will ever be repaid in full. Fed Chairman Bernanke isn't worried.
Posted by Charley Blaine on Thursday, June 10, 2010 10:25 AM
A watchdog panel reviewing the bailout of American International Group (AIG) said U.S. taxpayers "remain at risk for severe losses" and that the government didn't act aggressively enough to protect U.S. taxpayers during the 2008 rescue. In a lengthy report, the bipartisan Congressional Oversight Panel concluded that the U.S. government, which owns nearly 80% of the insurance giant, is likely to "remain a significant shareholder in AIG through 2012." It's unclear if taxpayers "will ever be repaid in full." See how the dollar is doing today The report contrasted with more optimistic comments Wednesday by Federal Reserve Chairman Ben Bernanke before the House Budget Committee. Bernanke said that every major financial institution receiving government aid at the height of the financial crisis has repaid taxpayers with interest
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Gold prices lose steam
Gold prices were slipping Thursday as investors tentatively sold gold for riskier stocks.
Posted by TheStreet Staff on Thursday, June 10, 2010 9:53 AM
By Alix Steel, TheStreet Updated at 3:54 p.m. ET Gold prices were slipping Thursday as investors sold gold for equities and continued to take profits after gold's record high. Gold for August delivery settled down $7.70 to $1,222.20 an ounce at the Comex division of the New York Mercantile Exchange. The gold price Thursday traded as high as $1,236 and as low as $1,216.20 The U.S. dollar index was losing 0.87% to $87.12 while the euro was rallying 0.88% to $1.21 against the dollar. The spot gold price Thursday was down more than $14, according to Kitco's gold index. Gold prices struggled to regain their upward momentum as traders appeared willing to take their chances with stocks versus the safety of gold. China's exports rose 48.5% in May, indicating that its economy was not slowing, as many had feared. This news, paired with comments from Federal Reserve Chairman Ben Bernanke that the U.S. economy is on track for recovery and would grow 3.5% in 2010, helped calmed jittery investors. Read More...
Energy stocks power Dow, up 200+
First-time jobless claims fall. The SEC steps up its Goldman Sachs investigation. Del Monte and Lululemon beat expectations.
Posted by TheStreet Staff on Thursday, June 10, 2010 7:44 AM
Updated at 11:02 a.m. By Melinda Peer, TheStreet Stocks were soaring Thursday, with the energy sector leading the pack, as a successful Spanish debt auction and news that a German court blocked efforts to prevent Germany from participating in a crucial aspect of a European stabilization effort bolstered the euro. The Dow Jones Industrial Average was up 216 points, or 2.2%, to 10,115. The S&P 500 ($INX) had risen 22 points, or 2.1%, to 1,078, and the Nasdaq ($COMP) had added 41 points, or 1.9%, to 2,200. Helping markets on Thursday, the German Constitutional Court rejected efforts to block Germany from taking part in guarantees that are critical to the Stabilization Mechanism aimed to strengthening the euro. Read More...
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The Hindu : Business / Markets : Sensex soars to 17,000 points level Archives Subscriptions RSS Feeds Site Map ePaper
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Sensex soars to 17,000 points level

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Stocks of oil and gas, auto, realty and metal sectors were front-runners, extending support to the benchmark Sensex on Friday. File photo: Paul Noronha
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The Bombay Stock Exchange benchmark Sensex regained the 17,000 points level after rising by 143 points on buying by funds following impressive industrial growth data and firming trends in global markets. The 30-share index advanced further by 142.87 points to close at 17,064.95 points. The barometer had risen by 305 points in last two trading sessions. The broad-based National Stock Exchange index Nifty spurted by 40.75 points to 5,119.35 points. Brokers said official data showed that industrial output rose by 17.6 per cent in April on good showing by manufacturing, particularly capital and consumer goods, which sparked buying particularly in oil& gas, capital goods and auto stocks. Trading sentiment further fuelled as world stocks extended gains for the fourth day on optimism over global economic growth. On the domestic bourse, the current rally was led by market leader Reliance Industries, which jumped 3.03 per cent to Rs 1,046.25 following reports that the company in talks to acquire stake in Infotel and close to buying up to 40 per cent stake in Shale Gas assets owned by Texas-based Pioneer Natural Resourses.
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The Hindu : Business / Markets : Sensex soars to 17,000 points level
Reliance also found additional oil in a block in the western state of Gujarat and is assessing the viability of the find that may help increase domestic fuel supplies. Among the 30 index components, 21 stocks closed with gains. Asian stock markets ended higher with the key benchmark indices in Japan, China, South Korea, Hong Kong, Taiwan and Singapore closing higher between 0.29 per cent and 1.70 per cent. European shares were trading higher in the early trade, rising for the third day on optimism over global growth. Key indices in the UK, Germany and France rose by 0.29 to 0.92 per cent. Keywords: Sensex, closing trade, IIP data, GDP, Nifty
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Sensex surges to six-week high led by Reliance group stocks

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The Bombay Stock Exchange benchmark Sensex on Monday surged by 273 points to a six-week high on fund-based buying in blue-chips, particularly Reliance group stocks. The 30-share index shot up by 273.22 points to 17,338.17 points, a level last seen on May 3. The broad-based National Stock Exchange index Nifty spurted by 78.35 points to 5,197.70 points. The market sentiment boosted after Reliance Industries, the most valuable company, climbed to its highest in a month on agreeing to take control of Infotel Broadband Services, giving it access to the wireless Internet business. RIL jumped 1.64 per cent to close at Rs 1,063.40. Infosys Technologies, the second heaviest on the Sensex, rose by 4.32 per cent to Rs 2,747.25. All Reliance companies stocks belonging to both Mukesh Ambani and Anil Ambani brothers recorded handsome gains. Reliance Industrial Infra rose by 16.88 per cent to Rs 902.10 on heavy buying by foreign funds. Shares of Anil Ambani group companies, Reliance Natural Resources shot up by 17 per cent to Rs 60.90, RCom by 3.71 per cent to Rs 179, Reliance Power by 5.53 per cent to Rs 167.90 and Reliance Mediaworkds by 3.88 per cent to Rs 66.90. Banking stocks were also in keen demand as State-run IDBI Bank jumped the most in more than four months after the government approved a plan to inject funds to bolster its capital. The stock rose by 4.81 per cent to Rs 117.75. Shares in five State-run banks rose after the government approved a plan to inject over Rs 6,200 crore in capital to help them boost lending. In the 30 BSE index components, 25 stocks closed with gains while five ended with losses. The IT sector index was on the top with a handsome gain of 3.69 per cent at 5,351.98 points, followed by Teck index by 2.76 per cent to 3,266.02. Oil and gas index rose by 1.87 per cent to 10,362.91, metal index by 1.72 per cent to 14,679.90 and banking index by 0.99 per cent to 10,854.17. Keywords: sensex, stocks, BSE, NSE, stock market
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Sensex rises for fifth day, led by Reliance Comm and Sterlite
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Sensex rises for fifth day, adds 74 pts

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Recovering from early losses, the Bombay Stock Exchange benchmark Sensex today ended 74 points higher at a fresh six-week high on fag-end buying by funds in bluechips, particularly RCom and Sterlite Industries. The 30-share index extended gains for the fifth straight session rising by 74.66 points to close at 17,412.83 points. The barometer had opened lower and further fell to an intra-day low of 17,249.46 points due to profit booking. Anil Ambani group company RCom rose to a four-month high after it decided to demerge its telecom infrastructure unit, Reliance Infratel, to create an independent entity. The stocks surged by 4.27 per cent to Rs 186.65. Brokers said fresh buying mainly in realty and PSU sectors on the back of disinvestment news coupled with recovery in european markets boosted the market sentiment. The government today approved disinvestment of 10 per cent each in Coal India
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Ltd and Hindustan Copper Ltd, as it pushes its agenda to raise Rs 40,000 crore this fiscal through stake sales in PSUs. The broad-based National Stock Exchange index Nifty closed at 5,222.35 points, showing a gain of 24,65 points. In 30 BSE index components, 21 stocks closed with gains. The heaviest on the benchmark, Reliance Industries, rose by 0.19 per cent to Rs 1,065.45, Sterlite Industries by 3.41 per cent to Rs 675.35 and DLF Ltd by 2.99 per cent to Rs 272.25. The three carry nearly 19 per cent weightage on the Sensex. MMTC Ltd, a state-run trading company, by rising 20.86 per cent to Rs 34,476.60, the most since July 2002, after saying it will consider a proposal on June 29 to issue free shares and split its stock.
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http://publication.samachar.com/pub_article.php?id=9339825&nextids=9339822|9339823|9339825|9338782|9338783&nextIndex=3[15-Jun-2010 11:45:50 AM]
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http://publication.samachar.com/pub_article.php?id=9339825&nextids=9339822|9339823|9339825|9338782|9338783&nextIndex=3[15-Jun-2010 11:45:50 AM]
Euro Inspires 214-Point Rally - FOXBusiness.com
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Monday, June 14, 2010
Euro Inspires 214-Point Rally

Comments (1) Add Comment By Matt Egan FOXBusiness The European cloud hanging over Wall Street gave further way to economic optimism on Tuesday as the Dow soared more than 200 points in the wake of another big rally for the recovering euro. Today's Markets The Dow Jones Industrial Average rose 213.88, or 2.10%, to 10404.77, the Standard & Poor's 500 added 25.60 points, or 2.35%, to 1115.23 and the Nasdaq Composite picked up 61.92 points, or 2.76%, to 2305.88. The FOX 50 gained 16.60 points, or 2.08%, to 813.43. The bullishness represents a strong rebound from Monday's late-day reversal, which was triggered by sovereign debt worries resurfacing after Moody's slashed Greece's credit rating by four notches into junk territory. However, European markets largely shrugged off the development, easing jitters on Wall Street and reestablishing the risk trade. Right now I think weve overdone it to the downside and Im looking for a recovering rally for the rest of the summer period, said Marc Pado, U.S. market strategist at Cantor Fitzgerald, alluding to the correction the markets suffered in recent weeks. Energy and materials stocks benefited the most from the renewed hunger for risky assets and crude oil jumped to a one-month high. Also, the S&P 500 broke through its 200-day moving average for the first time in nearly a month, a key development for traders. For the bulls, short-term, its a big buy signal, NYSE trader Ted Weisberg of Seaport Securities told FOX Business. With the triple-digit rally, the Dow has closed in the green in three of the last four days -- including a pair of 200-point gains -- and put significant distance between it and the 2010 lows it set on June 7. "The market has clearly stabilized in the last 12 days or so," said Peter Kenny, managing director at Knight Capital Group. "Investors are willing to look at Europe not as a worst-case scenario, but as an ongoing and evolving policy challenge. All of the Dow's 30 components closed, led by Boeing (BA), American Express (AXP) and Microsoft (MSFT), each of which climbed more than 4%. The weakest blue-chip stocks were retailers Home Depot (HD) and Wal-Mart (WMT), which may have been hurt by Best Buy's (BBY) disappointing quarterly report. The Nasdaq Composite soared nearly 3% thanks to very strong rallies for tech companies like Research in Motion (RIMM) and Dell (DELL). In another sign of the easing tension on Wall Street, the VIX, or the so-called "fear gauge," tumbled nearly 10%. Also, the markets closed the day at session highs, avoiding the late-day reversals that have wrecked countless rallies over the past few weeks. U.S. markets cheered another burst of buying for the euro, which climbed solidly above the $1.23 mark and continues to move away from four-year lows. The currency has seen its value tumble in recent months amid worries about the European sovereign debt crisis, but it has mostly withstood and even gained value following the downgrade of Greece. A stronger euro has consistently boosted U.S. market sentiment and fueled rallies for multinationals and dollar-traded commodities. The euro was up 1.11% to $1.2344 as U.S. markets closed. European markets also proved to be resilient in the face of the Greece downgrade, with indexes in London and Paris rallying for the fifth day in a row and reaching new onemonth highs. The energy sector was the best performer on Wall Street, rising 3% as crude oil posted strong gains and BP (BP) bounced back from Monday's dive. Individual stocks like Valero (VLO) and Schlumberger (SLB) posted even stronger gains. In the commodities complex, economically-sensitive crude oil jumped $1.82 a barrel, or 2.42%, to $76.94 -- its highest settle since May 6. Crude has jumped 13% since settling at $68.01 on May 20. Despite the easing tensions, gold gained $9.90 a troy ounce, or 0.81%, to $1,233.50. Even consumer discretionary stocks rallied despite electronics retailer Best Buy (BBY) tumbling 6% after reporting weaker-than-expected EPS of 36 cents. The company's revenue rose 7% to $10.8 billion, also missing the Street's view. Wall Street also put a positive spin on the latest reports suggesting the U.S. economy continued to recover despite the troubles on the other side of the Atlantic. The Empire Manufacturing Survey showed manufacturing activity rose to a 19.57 reading in June, up from 19.11 in May, but slightly below estimates from economists. The Commerce Department said import prices slumped 0.6% last month, their biggest decline in almost a year and one caused by sinking energy prices. Export prices rose 0.7% in May, compared to estimates for an unchanged reading and April's 1.2% rise. Taken together, the data provide further evidence that inflation remains tame. Meanwhile, BP continues to reel from the massive oil spill in the Gulf of Mexico. BP's credit rating was slashed by six notches by Fitch Ratings amid signs the company's near-term costs could be higher than previously expected due to calls from Washington for a $20 billion escrow account to cover liabilities. However, BP's stock erased its losses and turned solidly higher as oil executives testify on Capitol Hill. Shares of other companies involved in the spill like Transocean (RIG) and Halliburton (HAL) also rallied. BP execs are gearing up for a grilling from lawmakers on Capitol Hill and a meeting with President Barack Obama, who is scheduled to address the disaster in an Oval Office speech Tuesday night. New documents released by a congressional panel show the company focused on costs during the days leading up to the explosion that caused the worst oil spill in U.S. history. | Respond to Editor |
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http://www.foxbusiness.com/story/markets/euro-boosts-stocks-open/[15-Jun-2010 5:45:53 PM]
Euro Inspires 214-Point Rally - FOXBusiness.com After having overcome the 200-day moving average on Tuesday, the next key level for the S&P 500 is 1121, which represents a 50% retracement of the 07-09 bear market, notes Peter Boockvar, equity strategist at Miller Tabak. Corporate Movers News Corp. (NWSA) offered to acquire the 61% stake in British satellite company BSkyB that it doesn't own for $12 billion. BSkyB, which was founded by News Corp. CEO Rupert Murdoch and is chaired by his son James, rejected the offer, seeking a higher price than the 17% premium the latest offer represents. News Corp. is the parent of FOX Business. GameStops (GME) stock slid 5% as Best Buy announced plans to begin to sell used videogames, creating new competition for the videogame retailer. Best Buy also said it will allow customers to trade in old video games for gift cards. FactSet Research (FDS) said its net income rose 0.3% last quarter, translating to stronger-than-expected EPS of 81 cents. The company's revenue increased by 4% to $160.3 million, narrowly topping estimates. FactSet also issued upbeat guidance for the current quarter and upped its stock buyback plans by $150 million. Global Markets The U.K.'s FTSE 100 rose 0.30% to 5217.82, Germany's DAX advanced 0.82% to 6175.05 and France's CAC 40 advanced 0.98% to 3661.51. In Asia, Japan's Nikkei 225 jumped 0.08% to 9887.89 and Hong Kong's Hang Seng gained 0.05% to 20062.15.
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Stocks stage big rally

Recommend You and 11 others recommend this.11 people recommend this. Admin Page Error Unlike By Alexandra Twin, senior writer June 15, 2010: 4:14 PM ET
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NEW YORK (CNNMoney.com) -- Stocks surged Tuesday, pushing the Dow up over 200 points, as worries about Europe's debt woes hurting U.S. growth eased and the euro rallied. The Dow Jones industrial average (INDU) gained 213 points, or 2.1% according to early tallies. The S&P 500 index (SPX) gained 25 points, or 2.4% and the Nasdaq composite (COMP) gained 62 points or 2.8%. Stocks gained from the get go Tuesday, as strength in European markets and a rally in the euro reassured investors worried about how global growth will impact the U.S. Solid demand for government debt auctioned in Spain, Belgium and Ireland helped take the edge off euro zone growth worries. "Today, we're seeing a little bit of a better situation out of Europe and so stocks are up," said Mike Stanfield, chief investment officer at VSR Financial Services. "But my feeling is we've entered a trading range where we're going to go up or down day-to-day but not really make much progress," he said. "On the down days, there will be economic reasons and on the up days, there will be reasons. But it's really just a function of the trading range." Stocks managed to surpass a key point in that range by the close, with the S&P 500 ending at 1115, above the 200-day moving average. The Dow and Nasdaq were also at key technical milestones. Closing above
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After falling for the better part of six weeks, stocks began to stabilize in the middle of last week. The advance continued through most of Monday after a report showed European industrial production surged in April, but stocks lost some steam in the afternoon after Moody's downgraded Greece's debt, reminding investors that Europe's crisis is alive and well. The major indexes lost more than
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12% each between the bull market rally highs of late April and last week's lows. But the selling could be deeper in the aftermath of a rally that pushed the S&P up 80% off the March 2009 lows. What's moving: All 30 Dow stocks rose, led by Boeing (BA, Fortune 500), Caterpillar (CAT, Fortune 500), McDonald's (MCS), 3M (MMM, Fortune 500), Microsoft (MSFT, Fortune 500) and United Technologies (UTX, Fortune 500). Commodities stocks surged as the dollar fell, boosting dollar-traded commodity shares. The Oil Services Holders Trust (OIH) ETF rallied 4% and the Deutsche Bank Energy (DXE) index gained 3%. Chip stocks rallied on reports that Taiwan Semiconductor Manufacturing and United Microelectronics Corp., two of the world's biggest chip makers, said global chip demand will grow in the second half of the year. Chip and chip gear makers rose, including Intel (INTC, Fortune 500), Broadcom (BRCM, Fortune 500), Micron Technology (MU, Fortune 500) and Applied Materials (AMAT, Fortune 500). Company news: Boeing (BA, Fortune 500) shares rose 4% after the company said it was increasing production on its popular narrow-body 737 planes for the second time in two months, citing improved demand in a recovering economy. Starting in 2012, the Dow component will produce 35 planes per month, rather than 34. Manufacturer Illinois Tool Works (ITW, Fortune 500) boosted its secondquarter earnings forecast, saying it saw increased demand across a broad range of its customers in North America and beyond. Shares gained 1.6%. News Corp (NWSA) shares rallied 8% in active Nasdaq trading as investors bet it will eventually win in its battle to take full control of BSkyB, the British satellite broadcaster. Earlier, BSkyB rejected News Corp's $12 billion bid to buy the 61% of the company that it doesn't already own, saying that the offer is too low. Best Buy reported higher sales and earnings that missed expectations, as stronger sales of cell phones and computers were offset by weaker sales of music and movies. Best Buy (BBY, Fortune 500) shares fell 6%. Gulf oil spill: Executives from BP and four other major oil companies testified before a House committee in the wake of the spill that has ravaged the Gulf. Comments from lawmakers were critical of the "cookie cutter" contingency plans of BP, Exxon Mobil (XOM, Fortune 500), Chevron (CVX, Fortune 500), ConocoPhilips (COP, Fortune 500) and Shell Oil. Exxon Mobil CEO Rex Tillerson said his company would have used a different well design and cement formulation than what BP used at the Deepwater Horizon rig that exploded and sank on April 20, killing 11 workers and causing the leak. However, he conceded that his company was not prepared to deal with a worst-case scenario event like the oil spill. Earlier, Fitch downgraded BP (BP)'s debt rating for the second time this month, leaving it at a level just above junk status. Euro: The euro rose 0.9% versus the dollar, continuing to recover after
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touching a four-year low of $1.188 last week. The dollar fell 0.4% against the yen. Economy: Import prices fell 0.6%, the Labor Department reported, the lowest drop in nearly a year, with inflation likely to stay mild. Export prices also rose 0.6%. The Empire manufacturing survey, a reading of manufacturing in the New York area, rose to 19.57 in May from 19.11 in April, missing forecasts for a rise to 20.0. World markets: European markets gained. Britain's FTSE 100 rose 0.3%, Germany's DAX rose 0.8% and France's CAC 40 gained 1%. Asian markets gained. Japan's Nikkei and Hong Kong's Hang Seng ended just above unchanged and China's Shanghai Composite added 0.3%. Commodities: U.S. light crude oil for July delivery rose $1.36 to $76.48 a barrel on the New York Mercantile Exchange. COMEX gold for August delivery rose $8.40 to $1,231.90 an ounce. Bonds: Treasury prices fell, raising the yield on the 10-year note to 3.26% from 3.28% late Monday. Treasury prices and yields move in opposite directions.
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Sensex rallies for sixth day; closes 50 points higher

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Stock markets extended gains for the sixth straight session today, with the BSE benchmark Sensex closing 50 points higher on expectations of robust corporate earnings following healthy quarterly tax payments by companies. Auto and financial sector counters made the most of renewed investor interest, which was also thanks to firm global cues. Drawing strength from the overnight rally on Wall Street, the Bombay Stock Exchange's 30-share bellwether ended at 17,462.87, up by 50.04 points, or 0.29 per cent -- its best closing since May 3. The barometer opened higher, buoyed by an over two per cent rally in the US markets last night, but profit booking by investors shaved off most of the gains, brokers said. The session was choppy and the Sensex moved between a low of 17,407.30 points and a high of 17,530.38 during the day. The National Stock Exchange's wide-based 50 share Nifty Index ended 0.21 per cent higher at 5,233.35 points. Market sentiment was up on the higher payment of advance taxes, a measure of economic activity and rise in profitability of companies, brokers said. Indirect taxes went up by 49 per cent to around Rs 35,000 crore during April-May. "Market sentiment is bullish on good advance tax numbers and (expectations of) a
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normal monsoon. The momentum is likely to continue as confidence among investors is coming back," Unicon Financial CEO Ganjedra Nagpal said. Auto stocks were on top gear, with Tata Motors climbing 2.39 per cent, a day after the company said its global sales rose by 50 per cent in May on robust demand for both commercial and passenger vehicles. M&M, which has given an expression of interest (EOI) for South Korea's Ssangyong motors, soared 3.69 per cent and was the biggest gainer in Sensex components. Maruti rose 1.52 per cent. Hero Honda, however, lost 0.79 per cent. Strong demand was witnessed in financial stocks. ICICI Bank advanced 2.37 per cent, HDFC 1.84 per cent, HDFC Bank 0.5 per cent. IT stocks too participated in the rally and rose in the range of 0.3-1.5 per cent on hopes that economies in the developed worlds are coming back on the track. Infosys jumped 1.12 per cent. Continuing its rising streak for another day, Anil Ambani -led Reliance Communications ended 0.21 per cent higher. The stock has been on rising streak in recent sessions on various steps taken by the company management. However, index heavyweights RIL and Bharti Airtel closed in the red and dragged the broader market. The country's most valued firm Reliance Industries, which has the maximum weight on the benchmark, ended with a loss of 0.76 per cent to Rs 1,057.0.76. India's top telecom operator Bharti Airtel on the other hand dropped 1.28 per cent.
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World stocks rally for 9th day euro holds steady
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World stocks rally for 9th day; euro holds steady

Published on Fri, Jun 18, 2010 at 22:50 | Updated at Fri, Jun 18, 2010 at 22:57 | Source : Reuters Email Print Share
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World stocks rose for a ninth straight day on Friday as investors increased their risk appetite after a Spanish bond auction eased their worst fears about euro zone sovereign debt, helping the euro hold at three-week highs. MSCI's all-country world index gained about 0.5%, allowing US and European shares to retrace all their losses for this year. The index has rebounded around 7% since its June 7 close and gained more than 3% this week. Its emerging markets counterpart outperformed and was up almost 0.7%.
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The euro steadied around USD 1.24 as it headed toward its biggest weekly gain in more than a year as investors unwound large short positions accumulated during the currency's sell -off in recent months.
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"We had some nice euro gains and dollar weakness over the course of this week. We're going to see whether the euro is going to sustain these gains and press on toward USD 1.25," said Brian Dolan, chief strategist at Forex.com in Bedminster, New Jersey. The euro was up 0.04% at USD 1.2383. The US Dollar Index was down 0.08% at 85.621, and against the yen, the dollar was down 0.22% at 90.78.
US stocks rose in early trading and were set for back -to-back weekly gains, as investors juggled with the expiration of stock options. Basic materials companies took the lead in a market that traded in a very tight range. Eastman Chemical gained 2.2% and the S&P materials index edged up 0.6%. The Dow Jones industrial average edged up 40.66 points, or 0.39%, to 10,474.60. The Standard & Poor's 500 Index added 4.35 points, or 0.39%, to 1,120.08. The Nasdaq Composite Index rose 13.80 points, or 0.6%, to 2,320.88.
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Investors have gradually been moving back into riskier assets this month after a sharp correction in May made valuations more attractive and key volatility gauges, such as Wall St's Vix index, almost halved from mid-May peaks. Spain's Treasury sold 3.5 billion euro of debt on Thursday, and a government official said the sale gave it enough liquidity to deal with a 24 billion euro (USD 29.4 billion) repayments crunch in July. In addition, EU leaders and officials on Friday firmed up plans to publish bank "stress tests" next month as they looked to minimize adverse speculation that has been dogging the sector all year. But investors in commodities overlooked increased risk appetite in the wider markets as oil and copper prices faltered on signs economic growth in the United States and China may not be as rapid as expected. A Chinese official said growth was expected to slow in the second half of this year and that double-digit growth for the full year seemed unlikely. The warning, which prompted a sell-off in Chinese equities, followed US data on Thursday showing jobless claims increased unexpectedly last week as the manufacturing, construction and education sectors shed workers. "The recovery is going to be quite slow in a number of countries," said Daniel Smith, an analyst at Standard Chartered. US light sweet crude oil was up 18 cents to USD 76.97 per barrel after earlier trading lower. Gold rallied to a record high near USD 1,260 an ounce as momentum triggered by buying of the metal as a haven from sovereign and financial risk pushed prices through technical resistance to near their previous peak. US Treasury prices drifted lower in light trading as the market cleaved tightly to a yield range established over the past week and a half, with little on the agenda to influence prices. "It is a classic summer Friday with no economic data and much of the market dreaming about an early close to make it a long weekend," said Ian Lyngen, senior government bond strategist at CRT Capital Group in Stamford, Connecticut. The benchmark 10-year US Treasury note was down 8/32 in price to yield 3.2213%.
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The Bombay Stock Exchange benchmark Sensex shot up by 306 points to a twomonth high on Monday as investors responded positively to the government sorting out the dispute over regulation of ULIPs. The market was also bolstered to a great extent by surging global bourses after China announced steps to let its currency, the yuan, gain against the US dollar. The Sensex surged by 305.73 points to 17,876.55, a level last seen on April 9, after the government resolved the dispute between market regulator SEBI and IRDA over who had jurisdiction over hybrid ULIPs in favour of the insurance watchdog. ULIPS are life insurance products, a part of which are invested in equities. The green signal for life insurers to continue offering unit-linked plans resulted in substantial inflows into the market. The broad-based National Stock Exchange index Nifty rose by 90.70 points to 5,353.30, after touching the days high of 5,366.75 points. In the 30-index components, 28 stocks closed higher, while Bharti Airtel and
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The Hindu : Business / Markets : Sensex shoots up 306 points on new ULIP guidelines
HDFC Bank ended with losses. Metal, realty and finance company stocks gained the most, as investors felt the improvement in economic growth would boost demand for infrastructure and funds. Sterlite Industries, the biggest copper and zinc producer, gained the most in a year after its shares were split, making them cheaper to trade, and metal prices rallied. Sterlite Industries gained 8.28 per cent to Rs. 183.70, Tata Steel by 6.30 per cent to Rs. 504.30, Sesa Goa by 9.54 per cent to Rs. 387.60 and Hindalco by 5.61 per cent to Rs. 153.45. A firming trend in the Asian region and a higher opening in Europe this afternoon further bolstered the investor sentiment. Larsen and Toubro, a well diversified company, surged 2.12 per cent on the Sensex to Rs. 1,836.35 on reports that the company plans to double sales from its electrical and electronics division by 2015. Keywords: Markets, BSE, Sensex
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Sensex northbound; oil & gas, telecom, infra up

Published on Mon, Jun 28, 2010 at 13:25 | Updated at Mon, Jun 28, 2010 at 14:01 | Source : Moneycontrol.com Email Story Print Comments Share
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At 13:20 hours IST - the benchmark Sensex continued to trade RR Abhaya Indira higher though there was some selling pressure at higher levels. Dhanani Shankar Krishna Shares of oil & gas, infrastructure, telecom, metal, technology and Reddy select auto companies' were helping equity benchmarks. ONGC and Reliance Industries were the leading players. WHAT OTHERS LIKE However, ITC, GAIL, Jindal Steel, Hero Honda, HDFC Bank, Most V Most Read Maruti, ABB, DLF, Cipla, ACC, Sun Pharma and Suzlon Energy 24 Hours 7 Days were the only losers on Nifty. T 1 Month Kings gambit The Sensex was trading at 17677, up 103 points and the Nifty was at 5297, up 28.5 points. The Nifty July future was trading at 7 points Sudarshan Sukhani's top pic premium. Markets were not getting any cue from European trade today markets, as they were quiet in trade today.
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Top gainers - Reliance Communications was trading at Rs 200.05, up 4.03%; Idea C ll l t R 58 20 2 92% ONGC
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NEW YORK (CNNMoney.com) -- Stocks rallied Friday, finding momentum at the end of a choppy session ahead of the first wave of quarterly corporate results due out next week. The Dow Jones industrial average (INDU) added 59 points, or 0.6%. The S&P 500 (SPX) gained 8 points, or 0.7%, and the Nasdaq (COMP) composite rose 21 points, or 1%. All three major indexes drifted on both sides of unchanged during the session before finally turning higher in the last hour.
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"The market has rebounded this Investments down and job shakier week in anticipation of a fairly decent period of corporate earnings," said or View results Tyler Vernon, chief investment officer at Biltmore Capital. "This will be a nice bounce, but long term, I think a lot of the concerns about the global economy are still there." While there haven't been many positives on the economic front, there's been some optimism that companies will still be able to continue to make profits, even with the economic strain. Analysts currently expect year-over-year growth of 27%, according to the latest figures from Thomson Reuters. Dow components Alcoa (AA, Fortune 500), JPMorgan Chase (JPM, Fortune 500), Bank of America (BAC, Fortune 500), Intel (INTC, Fortune 500) and GE (GE, Fortune 500) are all due next week.
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Google: The Internet behemoth renewed its license with the Chinese government to operate its site in that country, following a four-month battle over censorship. A renewal had been in question due to tension between the company and China over the censorship of search results. But Google's decision last week to no longer automatically redirect users of Google's China site to its uncensored Hong Kong site seemed to pave the way for the renewal. Google (GOOG, Fortune 500) shares gained 2.4%. On the move: Financials were among the big gainers Friday, with JPMorgan Chase (JPM, Fortune 500), Citigroup (C, Fortune 500), US Bancorp (USB, Fortune 500) and Regions Financial (RF, Fortune 500) among the stocks lifting the KBW Bank (BKX) index by 2.4%. Caterpillar (CAT, Fortune 500), Chevron (CVX, Fortune 500), DuPont (DD, Fortune 500), Merck (MRK, Fortune 500) and Intel (INTC, Fortune 500) were among the Dow's biggest gainers. Market breadth was positive and volume was very light. On the New York Stock Exchange, winners beat losers by almost four to one on volume of 880 million shares. On the Nasdaq, advancers beat decliners by three to one on volume of 1.61 billion shares.
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Economy: Wholesale Inventories rose 0.5% in May after climbing 0.2% in April. Economists surveyed by Briefing.com expected inventories to rise 0.4%. World markets: European markets gained, with Britain's FTSE 100 rising 0.5%, Germany's DAX advancing 0.5% and France's CAC 40 climbing 0.5%. Asian markets rallied after South Korea raised its benchmark interest rate, seen as an optimistic sign for the economy. Japan's Nikkei rose 0.5%,
Hong Kong's Hang Seng gained 1.6% and the Shanghai Composite rose 2.5%. Commodities: U.S. light crude oil for August delivery rose $1.01 to $76.09 a barrel on the New York Mercantile Exchange. COMEX gold for August delivery gained $16.30 to $1,209.80 an ounce. Bonds: Treasury prices fell, raising the yield on the 10-year note to 3.06% from 3.02% late Thursday. Debt prices and yields move in opposite directions.
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It rains gains at Dalal Street BSE Sensex vaults 373 points
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It rains gains at Dalal Street; BSE Sensex vaults 373 points

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Expectations of strong first quarter corporate results, upward revision in India's GDP growth forecast by the International Monetary Fund (IMF) and revival of monsoon pushed up the BSE-benchmark Sensex sharply by 373 points in the week. The IMF raised India's growth forecast for 2010 to 9.5 per cent, stating that favourable financing conditions and robust corporate profits will accelerate economic expansion. The IMF expects India's economy to grow by 8.5 per cent in 2011. Asian and European stocks firmed up tracking gains on Wall Street, which was boosted by jobless claims falling and a handful of large retailers reporting solid sales. Renewed buying in view of market regulator SEBI's decision to reduce exposure margins for stocks derivatives also boosted the market sentiment. Investors are also closely watching progress of the monsoon rains, crucial for Indian agriculture. The weather office said monsoon has advanced into key grain-producing states of Punjab and Haryana and is forecast to move further. Robust growth in industrial production, stabilising domestic consumption-demand, rapidly-growing investment demand coupled with increase in imports and exports seem to have supported the growing investor confidence. The BSE Sensex shot up by 372.59 points, or 2.13 per cent, to end the week at 17,833.54 from the last weekend's close after moving in a wide range of 17,857.58 and 17,395.58.
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It rains gains at Dalal Street BSE Sensex vaults 373 points
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http://publication.samachar.com/pub_article.php?id=9579983&nextids=9579979|9579980|9579982|9579983|9579984&nextIndex=4[10-Jul-2010 8:20:53 PM]
Earnings Season Starts With a Bang - FOXBusiness.com
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| Respond to Editor | By Matt Egan FOXBusiness There's No Business Like FOX Business The Dow soared almost 150 points and notched its best six-day performance since last July on Tuesday as Wall Street cheered a successful kickoff to earnings season and anticipates more bullish results ahead. Todays Markets The Dow Jones Industrial Average rose 146.75 points, or 1.44%, to 10363.02, the Standard & Poor's 500 gained 16.59 points, or 1.54%, to 1095.34 and the Nasdaq Composite picked up 43.67 points, or 1.99%, to 2242.03. The FOX 50 added 11.06 points, or 1.40%, to 798.29. After rallying in anticipation of the start to earnings season last week, the markets continued the uptrend after aluminum titan Alcoa (AA: 11, 0.14, 1.29%) and railroader CSX (CSX: 51.72, -0.74, -1.41%) delivered by each beating the Street and issuing positive commentary. The results instilled a sense of confidence in the markets and boosted hopes for a solid report after the closing bell from tech bellwether Intel (INTC: 21.01, 0.44, 2.14%). There was definitely a positive tone established early by Alcoa. I think the Street is looking for not only good earnings but good guidance. I think the market is pricing that in, said Peter Kenny, managing director at Knight Capital Group. Ten days ago we were reaching a point of extreme oversold after seven weeks of continuous sell pressure. Once that ceased, weve had some lift and that lift is more than welcome. Wall Street was also boosted by the euro, which posted solid gains against the dollar in the wake of a successful sale of Greek debt and despite a downgrade of Portugals credit rating. The enthusiasm from last week has trapped some bears. People are buying stocks almost out of a forced nature, said Michael James, senior equities trader at Wedbush Morgan Securities. The better market tone is certainly encouraging portfolio managers to dip their toes into the water. All but one of the 30 stocks on the Dow closed in the green, led by 3% gains from Caterpillar (CAT: 66.8, 2.55, 3.97%), American Express (AXP: 44.15, 1.31, 3.06%) and JPMorgan Chase (JPM: 40.48, 1.29, 3.29%), which is scheduled to report results later this week. The indexs worst performers were Boeing (BA: 64.43, 0.1, 0.16%) and Pfizer (PFE: 14.79, -0.14, -0.94%). The triple-digit rally produced the Dows sixth consecutive day of green, matching its longest winning streak since the six-day rally that ended April 26. The index has surged 6.98% over that span, its best six-day performance since July 2009. Weve certainly had a good run over the past week and the buyers commitment to the market will certainly be tested with results from JPMorgan and Intel, said James. The latest rally began late Monday after aluminum titan Alcoa reported second-quarter EPS of 13 cents, reversing a loss of 47 cents a share in the year earlier and topping the Streets view of 11 cents. Alcoas revenue jumped by a stronger-than-expected 22% to $5.2 billion and it upped its 2010 outlook for aluminum consumption, relieving those fearful of a second-half slowdown. Also, railroader CSX , which is seen as an economic bellwether, beat the Street with a 36% rise in second-quarter profits. The companys revenue jumped 22% amid higher volume and its CEO said our markets overall continue to improve, and our outlook remains positive. The broader markets shrugged off a 1.4% decline in CSXs stock on Tuesday. Hopes that earnings season will continue to impress helped lift chip giant Intel 2%. The tech bellwether is expected to report EPS of 43 cents after Tuesdays closing bell. Later in the week JPMorgan, General Electric (GE: 15.21, 0.28, 1.88%) and Citigroup (C: 4.29, 0.17, 4.13%) are slated to report results. We have a cross section of (earnings) that should give us a read on the shape of the global expansion. I think a lot of traders are trying to get ahead of that, said Kenny. Meanwhile, the euro breached $1.27 even after Moodys cut Portugals credit rating by two notches to A1. The currency benefited from a successful sale of Greek debt that drew solid demand. The euro was up 0.98% to $1.2711 as U.S. markets closed. Helped by the upbeat earnings headlines and currency fluctuation, commodities also rallied. Crude oil jumped $2.20 a barrel, or 2.94%, to $77.15. Copper gained 0.33% a pound to $3.0095. Gold rose $14.80 a troy ounce, or 1.23%, to $1,213.30. On the economic front, the Commerce Department said the U.S. trade deficit unexpectedly widened by 4.8% to $42.3 billion in May -- the largest deficit since Nov. 2008. Corporate Movers Apple (AAPL: 251.798, -5.487, -2.13%) slumped 2% in the wake of Mondays Consumer Reports article saying it isnt recommending buying the tech titans iPhone 4. The negative commentary from the product-quality watchdog also triggered speculation that Apple could be forced into a rare product recall. Goldman Sachs (GS: 140.13, 2.93, 2.14%) is likely to seek an extension in the fraud lawsuit filed against the bank by the Securities and Exchange Commission, the New York Post reported. Sources told the paper Goldman is likely to seek an extra 30 days beyond its July 19 deadline. Tyco Electronics (TYC: 37.29, 0.73, 2%) inked an all-cash $1.24 billion deal to acquire broadband company ADC Telecommunication (ADCT: 12.52, 3.67, 41.47%). The $12.75-a-share offer represents a 44% premium to ADCs closing price on Monday. Tyco Electronics also issued preliminary fiscal third-quarter results that would exceed
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http://www.foxbusiness.com/story/markets/earnings-beats-inspire-wall-street/[13-Jul-2010 9:37:39 PM]
Earnings Season Starts With a Bang - FOXBusiness.com estimates. The company sees non-GAAP EPS of 70 cents and sales of $3.1 billion. Dr Pepper Snapple (DPS: 39.16, 0.58, 1.5%) piled an additional $1 billion onto its stock repurchase program, sending the beverage makers stock to fresh 52-week highs. The move comes on top of a previous plan to buy back $2 billion of its shares that still has $1.45 billion remaining. Global Markets The U.K.'s FTSE 100 climbed 2.01% 5271.02, France's CAC 40 jumped 1.96% to 3637.76 and Germany's DAX rose 1.87% to 6191.13. In Asia, Tokyo's Nikkei 225 fell 0.11% to 9537.23, Hong Kong's Hang Seng slipped 0.18% to 20431.06 and China's Shanghai Composite dropped 1.62% to 5702.16.
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http://www.foxbusiness.com/story/markets/earnings-beats-inspire-wall-street/[13-Jul-2010 9:37:39 PM]
Sensex opens 181 pts up on strong global cues
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news views business cricket cinema lifestyle tabloid photos video blogs events weather e markets | economy | corporate news | interviews | utility bytes | sectors home business markets Site Current Upcoming Re Press Trust Of India Mumbai, July 14, 2010 email print First Published: 09:57 IST(14/7/2010) Last Updated: 09:59 IST(14/7/2010) bookmark & share more... 1st Test, Australia and Pakistan in England AUS 253/10 & 100/4 PAK 148/10 The Bombay Stock Exchange benchmark Sensex rose by 181 points in the opening trade on Wednesday, tracking a firm trend in overseas markets. The 30-share index, which gained nearly 515 points in the previous four sessions, added another 181.32 points, or 1 per cent to 18,167.22 points, a level last seen in February 2008. The e-based National Stock Exchange index Nifty surged 52.80 points, or 0.97 per cent, to 5,453.45 points. Market sentiment remained firm in tandem with a strong trend in the Asian region and overnight gains in the US market after upbeat results from Intel Corp. Reliance Industries continued its upward journey and rose 0.60 per cent to Rs 1,081.15 on reports that it is in talks to acquire its third shale gas asset in America. Among other stocks DLF Ltd gained 2.38 per cent to Rs 323.15, HDFC Ltd 1.66 per cent to Rs 3,114.05, HDFC Bank by 1.69 per cent to Rs 2,100.35, State Bank of India 1.51 per cent to Rs 2,464.75 and ICICI Bank 0.99 per cent to Rs 907.50. Meanwhile, Hong Kong's Hang Seng Index rose 1.03 per cent and Japan's Nikkei index was trading higher by 2.65 per cent in early trade today. The Dow Jones Industrial Average index rose 1.44 per cent in yesterday's trade.
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Sensex snaps three-day decline; closes up 100 points

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The Hindu A view of the BSE building in Mumbai. File Photo: Shashi Ashiwal Cutting short its three-day falling streak, the Bombay Stock Exchange benchmark Sensex today rose by 100 points to c 30-month high on buying in metal, realty and auto stocks. The 30-share barometer closed 99.09 points higher at 17,977.23 points, a level last seen in February 2008. The broad-based National Stock Exchange index Nifty rose by 31.35 points to settle at 5,399.35 points. Market leader Reliance Industries rose by Rs. 5.35 to Rs. 1,058.25 and second heaviest Infosys Technologies by Rs. 7.9 2,765.55. The two carry nearly 23 per cent weightage on the Sensex. Among the 30 index shares, 19 counters finished with gains while 11 settled in the negative zone. Buying activity gathered momentum after Finance Minister Pranab Mukherjee said the nations food inflation might m easing concerns of further increases in interest rates. The upsurge was further supported as stock markets across Asian followed by Wall Street ended higher and a firm open Europe this afternoon. The BSE metal sector index gained the most by rising 3.16 per cent to 15,430.64 in line with firming overseas base-met Copper in London rose 0.8 per cent after the report on US building permits bolstered prospects for metals demand. Sterlite Industries, the largest copper producer, advanced the most by Rs. 7.20 to Rs. 173.30 followed by Tata Steel by 529.95. The realty sector index was the second best performer by rising 0.98 per cent to 3,507.08 followed by auto sector inde per cent to 8,327.60 points. Among Asian markets, key benchmark indices in Hong Kong, Indonesia, South Korea and China edged up by 0.26 per per cent. European shares firmed up in the early trade boosted by technology stocks, as strong results from Apple improved sen key benchmark indices in U.K., France and Germany were up by 1.38 per cent to 1.84 per cent. Keywords: BSE, NSE, Sensex, Nifty, firm Asian trend
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Sea of Green: Dow Soars 202 as Fears Fade - FOXBusiness.com

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Sea of Green: Dow Soars 202 as Fears Fade

| Respond to Editor | By Matt Egan FOXBusiness There's No Business Like FOX Business The economic gloom hovering over Wall Street was punctured on Thursday as surprisingly solid data out of Europe and a better-than-expected U.S. housing report combined with a fresh flood of upbeat corporate earnings to send the Dow soaring 200 points. Todays Markets The Dow Jones Industrial Average rose 201.77 points, or 1.99%, to 10322.30, the Standard & Poor's 500 added 24.08 points, or 2.25%, to 1093.67 and the Nasdaq Composite picked up 58.56 points, or 2.68%, to 2245.89. The FOX 50 added 15.95 points, or 2.05%, to 792.35. The 200-point rally represents a very strong bounce back from Wednesdays Fed-fueled 109-point drop on the Dow. The rally began overseas as Chinas market continues to recover and European markets rallied around stronger-than-expected manufacturing data for the euro zone. Europe continues to surprise on the upside. Its bolstering the outlook for global growth. People were most pessimistic about Europe and the fact it continues to trade well is giving confidence to the recovery story, said Nick Kalivas, vice president of financial research at MF Global. At the same time, Wall Street was inspired by big earnings beats from 3M (MMM: 84.72, 2.46, 2.99%), UPS (UPS: 63.17, 3.16, 5.27%) and Caterpillar (CAT: 67.98, 1.13, 1.69%), which also upped its 2010 profit outlook. Other major companies also mostly reported upbeat results, including AT&T (T: 25.51, 0.6, 2.41%) and Union Pacific (UNP: 72.42, 3.31, 4.79%). Weve had a constant tug-of-war between softness in the economic data stream and better-than-expected corporate news. Today the corporate news is clearly winning, said Art Hogan, chief market strategist at Jefferies & Co. Almost every single Dow stock closed higher, led by American Express (AXP: 43.19, 2.02, 4.91%), United Technologies (UTX: 69.5, 2.5, 3.73%) and Boeing (BA: 66.61, 3.44, 5.45%). The index's worst performers were defensive in nature: Travelers (TRV: 49.29, -0.62, -1.24%) and Johnson & Johnson (JNJ: 57.01, -0.1, 0.18%). Led by Qualcomm (QCOM: 39.11, 2.95, 8.16%) and Autodesk (ADSK: 28.04, 1.47, 5.53%), the Nasdaq Composite outperformed the broader markets, soaring 2.7%. The bulls managed to completely erase Wednesdays triple-digit selloff, which was driven by Federal Reserve Ben Bernankes unusually uncertain economic outlook. Those comments helped bolster worries the U.S. economy could suffer a double-dip recession. Underscoring the easing of jitters on Wall Street, the VIX, or the markets' so-called "fear gauge," slid 4%, giving back much of Wednesday's gains. Economic jitters faded on Thursday as new data out of Europe showed industrial orders in the euro zone unexpectedly climbed 3.8% in May over the previous month and 22.7% annually, beating expectations for a slight drop. Also, a euro-area purchasing managers index rose from 56.7 to 56 in June, topping projections for a drop to 55.5. The surprisingly solid data soothed the markets, sending major indexes up more than 1% in Europe. The rally picked up further steam after the National Association of Realtors said existing home sales slid just 5.1% in June, surprising traders who had been bracing for a drop of 8.1%. The news was a rare bright spot for the housing industry, which has seriously lagged behind the broader recovery. It boosted home builders like KB Home (KBH: 11.08, 0.42, 3.94%) and home improvement retailer Home Depot (HD: 28.22, 0.74, 2.69%). Wall Street was also encouraged by the latest avalanche of corporate results, which was headlined on Thursday by Caterpillar , a key economic bellwether. Caterpillar not only blew away expectations with EPS of $1.09, compared with estimates for 85 cents, but it said its sales soared by a stronger-than-expected 31% to $10.41 billion. The Dow component also upped its 2010 profit and sales outlook well above estimates. Likewise, shipping giant UPS , another key economic bellwether, saw its shares jump 5% after reporting a 90% surge in second-quarter net income and EPS of 84 cents. Analysts had been looking for a profit of just 77 cents from UPS, which also said its revenue soared by 13% to $12.2 billion, exceeding the Streets view of $11.98 billion. Other results were also mostly positive, including reports from manufacturing giant 3M, telecom AT&T, online auction site eBay (EBAY: 20.94, 0.77, 3.82%) and railroader Union Pacific. The news wasnt all positive, however, as Starbucks (SBUX: 25.15, -0.02, -0.08%) only matched estimates and issued a tepid outlook. Wall Street managed to shrug off new domestic economic data as the Labor Department said jobless claims soared by 37,000 last week to 464,000. Economists had only been forecasting a rise of 21,000. The government also said continuing claims fell by 223,000 to 4.49 million. Economically-sensitive commodities benefited from the positive mood on Wall Street. Crude oil rose $2.72 a barrel, or 3.58%, to $79.30 -- its highest settle since May 5. Copper also hit a two-month high, jumping 2.38% a pound to $3.1605. Gold gained $3.90 a troy ounce, or 0.33%, to $1,195.50. Its also worth noting the Dow and Nasdaq closed just below the levels they started off what has been a volatile year of ups and downs. Talk about a roller coaster year but here we are, said Hogan. I dont know if its good or bad, but its fact. There are the same competing forces of investors who feel like we can go into a double-dip and those who think equities are valued very attractively.
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http://www.foxbusiness.com/story/markets/european-data-push-global-markets-higher/[22-Jul-2010 7:19:18 PM]
Sea of Green: Dow Soars 202 as Fears Fade - FOXBusiness.com
Corporate Movers 3M (MMM: 84.72, 2.46, 2.99%) posted a 43% rise in net income and a profit of $1.54 a share, topping the Street's view of $1.48. The industrial conglomerate's revenue jumped 17.7% to $6.73 billion, narrowly beating expectations for $6.62 billion. 3M also forecasted 2010 EPS of $5.65 to $5.80, which would exceed forecasts for $5.63. AT&T (T: 25.51, 0.6, 2.41%) beat the Street with a non-GAAP profit of 61 cents a share, compared with estimates for 57 cents. Revenue rose 0.6% to $30.81 billion, almost matching estimates for $30.81 billion. The telecom said it activated 3.2 million Apple (AAPL: 259.29, 5.05, 1.99%) iPhones during the quarter. EBay (EBAY: 20.94, 0.77, 3.82%) rallied 4% in the wake of the online auction sites 26% rise in net income and non-GAAP EPS of 40 cents. Analysts had been expecting EPS of just 38 cents. EBay also said its revenue rose 6% to $2.2 billion, narrowly beating the Streets view of $2.16 billion. However, the companys third-quarter revenue view would miss estimates. Starbucks (SBUX: 25.15, -0.02, -0.08%) reported in-line non-GAAP EPS of 29 cents and issued tepid EPS guidance for 2011 that would at best meet estimates. Union Pacific (UNP: 72.42, 3.31, 4.79%) reported a 53% rise in second-quarter net income and a record EPS of $1.40, easily beating the Streets view of $1.21. Revenue at the railroader soared 27% to $4.2 billion, well ahead of estimates for $4.08 billion. Xerox (XRX: 9.02, 0.62, 7.38%) soared 7% after reporting a stronger-than-expected non-GAAP EPS of 24 cents, compared with estimates for 21 cents. The office technology companys revenue of $5.5 billion was slightly shy of expectations but it issued full-year outlook that would top the Streets view. General Motors unveiled a $3.5 billion deal to acquire auto financing company AmeriCredit (ACF: 23.9, 4.19, 21.26%) as the auto maker prepares for an eventual initial public offering. Eli Lilly (LLY: 35.15, 0.21, 0.6%) said its second-quarter profits jumped 16% and its non-GAAP EPS of $1.24 easily exceeded estimates. The drug makers revenue rose 9% to $5.75 billion, compared with estimates for just $5.58 billion. Eli Lilly also upped its 2010 guidance above consensus forecasts. Global Markets European markets rallied around the upbeat manufacturing data. The U.K.'s FTSE 100 jumped 1.90% to 5313.81, Germany's DAX soared 2.53% to 6142.15 and France's CAC 40 surged 3.05% to 3600.57. In Asia, Japan's Nikkei 225 slid 0.62% to 9220.88, Hong Kong's Hang Seng gained 0.50% to 20589.70 and China's Shanghai Composite rallied 1.07% to 2562.41.
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26-Jul-2010
CNNMoney.com Market Report - Jul. 26

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Stocks rally on housing, FedEx

Recommend 31 people recommend this. By Alexandra Tw in, senior w riter July 26, 2010: 6:01 PM ET
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Stocks rally on housing, FedEx Jailbreaking iPhone apps is now legal Can we afford tax hikes for the rich?
NEW YORK (CNNMoney.com) -- Stocks rallied Monday after FedEx's improved forecast and a better-than-expected housing market report tempered worries about the economic outlook. The Dow Jones industrial average (INDU) added 100 points, or 1%. The S&P 500 (SPX) index rose 12 points, or 1.1%. The Nasdaq (COMP) composite gained 27 points, or 1.2%. Both the Dow and Nasdaq are now positive for the year, while the S&P 500 stands roughly where it stood at the end of 2009. All three major gauges had rallied soundly through late April, sold off through the end of June and have recovered in July.
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Stocks gained in the morning and built on those gains as the session wore on, with investors scooping up a variety of shares. 29 of 30 Dow shares gained, led by oil stocks Exxon Mobil (XOM, Fortune 500) and Chevron (CVX, Fortune 500). "The new home sales was a bright point but it was really FedEx's earnings and outlook that gave the market some buoyancy," said Matthew Kaufler, equity market strategist at Federated Clover Investment Advisors. "The company represents a broad take on the economy and that's given investors some optimism today," he said.
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But the gains also reflect the recent more positive tone to the market, said Stephen Goldman, market strategist at Weeden & Co. Stocks slid in the second quarter as investors factored in a slower pace of recovery for the economy. But July has been a strong month as market pros anticipated improved quarterly results, a development that has played out so far. Goldman said that the market is currently in a "reflex rally" following the
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selling in the second quarter, in which the major gauges lost more than 15% off the highs and flirted with a bear market -- a plunge of at least 20% off the highs. "We're still going to see choppy trading after this rally fades out," Goldman said. "The economy is fragile and while it's not going to be a double-dip recession, growth is still going to be slow."
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FedEx: Package shipper FedEx (FDX, Fortune 500) lifted its fiscal firstquarter earnings-per-share guidance to a range of $1.05 to $1.25, from 58 cents per share a year ago. Analysts are currently expecting earnings of $1.10 per share, according to Thomson Reuters. The company also boosted its forecast for fiscal year 2011, citing improved demand particularly for international shipments. Like UPS (UPS, Fortune 500), FedEx is seen as a proxy for the economy, due to the nature of its business. Last week, UPS reported better-thanexpected quarterly sales and earnings and also boosted its full-year forecast. FedEx gained over 5.6% and UPS gained 1.2%.
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Housing: New home sales rose to a seasonally adjusted annual unit rate of 330,000 in June, bouncing from a revised 267,000 unit rate in May, the lowest reading on record, dating to 1963. Sales were expected to rise to 310,000, according to a consensus of economists surveyed by Briefing.com. While the pace was an improvement from the previous month, it was still the second-lowest on record, reflecting the end of the homebuyer tax credit. The slow pace also reflects the slow speed of the economic recovery. Quarterly results: Roughly 157 major companies, or 31% of the S&P 500, reports results this week. Standouts include Dow companies Boeing (BA, Fortune 500), DuPont (DD, Fortune 500), Exxon Mobil (XOM, Fortune 500), Chevron (CVX, Fortune 500) and Merck (MRK, Fortune 500). Also, BP (BP) reports on Tuesday, providing the first snapshot of the company's performance during the quarter in which the oil spill began. Separately, BP CEO Tony Hayward will step down in October and be offered a job with the company's joint venture in Russia, according to published reports Monday.
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World markets: European markets rose as investors mulled the results of the bank stress tests released after European markets closed Friday. Britain's FTSE 100 rose 0.7%, Germany's DAX rose 0.5% and France's CAC 40 added 0.8%. Asian markets ended the session higher, with Japan's Nikkei index up 0.8%, the Hong Kong Hang Seng up 0.2% and the Shanghai Composite up 0.7%. Currencies: The euro fell versus the dollar, giving up earlier gains, while the dollar gained versus the Japanese yen. Commodities: U.S. light crude oil for September delivery fell 6 cents to $78.92 a barrel on the New York Mercantile Exchange. COMEX gold for August delivery fell $2.70 to $1,185.10 an ounce. Bonds: Treasury prices fell, boosting the yield on the 10-year note to 3.00% from 2.99% late Friday. Debt prices and yields move in opposite directions.
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Market breadth: Breadth was positive. On the New York Stock Exchange, winners beat losers by almost three to one on volume of 470 million shares. On the Nasdaq, advancers beat decliners by over two to one on volume of 1.22 billion shares.
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Log in to Facebook to post your comment Lori Streeter 3:16 pm yet more "stagie" numbers in the stock market,, this is going to be one bull of a ride
Scott Griffis 3:12 pm The housing market is the only REAL problem with the US economy and was the ca Lower prices so that the average person can afford one. Houses are still overprice --http://www.cubecheck.com/
Henry Boyle 3:03 pm We got back to the 200 day average on S&P 500. We are also at 50% retracemen formed an a-b-c rally in Elliott Wave terms: http://www.tradingstocks.net/html/elliott_wave_theory.html The near term pattern ideally should go up little more (DOW 10800??). %1 down, 3 back. But if we can't clear 200 day, this is a good point to try for a short. If you se b-c counter rally and short. Remember to put a tight stop.
Joe Arena 2:39 pm Except no-one is saying there is a boom, David
Caroline Mix 2:26 pm Will the euro continue to gain ground this week? I'm not so sure. Follow me on Twit Thoughtful Discussion.
Tim Bachler 1:54 pm David. Those are some of the most sensible posts I have seen on here in quite som the housing data. The second lowest on record even with tax credits to support th that Fed Ex's business is booming. The distribution channel in not stocking anything from the manufacturers. So instead of other shippers seeing big shipments of stock load of little shipments that are being expedited. Just what Fed Ex is good at. We already with a head fake. I beleive we are going to see that again. The higher we
Ross Foyee 1:29 pm Jeesh, who is this bloke David Anderson, below? Some half-assed stock broker?
Ionutz Constantinescu 1:10 pm everytime Dow is about 10 000,the " GOOD NEWS " come out from the governmen 11.000 the real BAD NEWS can appear on the market. this is not just a crisis.its a new world big change. the balance between resources a longer sustain as before such a huge population.thats why so many DEBT has been worst,for the fight for resources or better,the stopping of growing population of th No country has yet understood this,and every country is hoping this crisis will pass their hope is just a hope. Time is for the BAD NEWS now
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Giosue' Lorenzo Campi 1:07 pm
Smile well who smiles the last...or if you prefer you can see he winner at the nd of bounce sestined to fail between 1105 and 1130.No good shape becauuse too vert No good legs because no fondamentals.Us global debt iss the tumor and is bigger a No chances,selll all Us financials and all new absolute lows within 15-19 months.Buy
Iikka Kernen 12:58 pm Whoops, was that the SMA200? Really didn't expect to break it today. Now let's se
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Market indexes are show n in real time, except for the DJIA, w hich is delayed by tw o minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: 2010 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM 2010 is proprietary to Dow Jones & Company, Inc Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2010. All rights reserved.
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Markets Rally Around FedEx, Housing Data

By Matt Egan Published July 26, 2010 | FOXBusiness
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There's No Business Like FOX Business Wall Street turned positive on the year on Monday as the bulls were emboldened by new data revealing U.S. home sales posted their biggest one-month gains since 1980 and by FedEx's updated earnings guidance. Todays Markets
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As of 2:59 p.m. ET, the Dow Jones Industrial Average rose 50.33 points, or 0.48%, to 10474.42, the Standard & Poor's 500 added 6.23 points, or 0.57%, to 1108.84 and the Nasdaq Composite picked up 13.96 points, or 0.62%, to 2283.46. The FOX 50 added 4.51 points, or 0.57%, to 802.60. Wall Street appeared to be on track to kick off the new week modestly lower but the markets turned around after FedEx (FDC) upped its quarterly EPS outlook above the Streets view, encouraging traders worried about the frailty of the economic recovery. Its a sign the economy has forward momentum. If the transportation sector is doing well, I think its ratcheting up the idea that the profit RELATED LINKS growth can be sustained, said Nick Kalivas, vice president of EU Launches Two Antitrust Probes financial research at MF Global. Against IBM
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Most of the Dow's 30 stocks were on the rise, led by economicallysensitive Home Depot (HD: 29.00 ,+0.75 ,+2.65%) and Alcoa (AA: 11.24 ,+0.19 ,+1.72%). The index's worst performers were Intel (INTC: 21.71 ,+0.02 ,+0.09%) and Wal-Mart (WMT: 51.13 ,-0.55 ,1.06%). The early apprehension comes after the Dow surged more than 325 points last week, including back-to-back triple-digit rallies to close out
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shipping giant, which is seen as a bellwether for the broader economy, said it now sees fiscal firstquarter EPS of $1.05 to $1.25 and fiscal 2011 EPS of $4.60 to $5.20. Analysts had been projecting EPS of just $1.01 in the first quarter and $4.98 for the full year. FedEx cited stronger-than-expected growth in its shipping volumes, which have continued at a similar pace to its fourth quarter. The news buoyed the broader markets and lifted FedEx's shares more than 4%. Rival UPS (UPS: 64.87 ,+1.23 ,+1.93%) and other transportation stocks like railroader Union Pacific (UNP: 75.47 ,+1.57 ,+2.12%) also rallied. Commodities also bounced off their lows, with copper gaining 1.26% a pound to $3.2250. Crude oil, which nearly slipped below $78 a barrel earlier, erased its losses and was down 8 cents, or 0.11%, to $78.90. Gold fell $4.70 a troy ounce, or 0.40%, to $1,183.00. Meanwhile, BPs (BP: 38.65 ,+1.79 ,+4.86%) stock jumped more than 2% amid reports embattled CEO Tony Hayward has agreed to step down from the U.K. oil giant. Hayward has been rocked by numerous public relations and strategic blunders in the wake of the massive oil spill in the Gulf of Mexico. Corporate Movers Goldman Sachs (GS: 148.18 ,+0.87 ,+0.59%) could be subjected to an audit from the Financial Crisis Inquiry Commission, the panels chairman told the Financial Times. The FCIC could bring in outside accountants to comb through the banks systems for data on its derivatives business. Goldman has said it doesnt break out its trading revenue directly from derivatives. Genzyme (GENZ: 67.38 ,+4.86 ,+7.77%) rose another 7% to 52-week highs as The Wall Street Journal reports that GlaxoSmithKline (GSK: 36.72 ,+0.21 ,+0.58%) is also eyeing a possible acquisition of the biotech company. Genzymes stock soared on Friday amid reports Sanofi-Aventis (SNY: 29.82 ,+0.49 ,+1.67%) has made an informal acquisition offer. Genzyme has rebuffed the Sanofi bid, Bloomberg News reported. Lorillard (LO: 77.21 ,+0.90 ,+1.18%) posted an 8% decline in second-quarter net income but the cigarette makers EPS of $1.73 beat the Street. The maker of Newport and True cigarettes said its revenue was flat at $1.52 billion, easily topping estimates for $1.02 billion. Global Markets The U.K.'s FTSE 100 jumped 0.72% to 5351.12, France's CAC 40 advanced 0.81% to 3636.18 and Germany's DAX gained 0.45% to 6194.21. In Asia, Tokyo's Nikkei 225 closed up 0.77% to 9503.66, Hong Kong's Hang Seng added 0.12% to 20839.90 and China's Shanghai Composite rose 0.65% to 2588.68.
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The Bombay Stock Exchange benchmark Sensex on Tuesday rose by over 57 points on buying in interest rate sensitive auto, realty and banking stocks as RBI steps matched with the street expectations. The 30-share barometer closed 57.56 points higher at 18,077.61 points after an early range bound trade. Among the 30 BSE index components, 20 stocks closed with gains and nine ended with losses, while NTPC held unchanged. Targetting to check the double digit inflation, RBI hiked its short-term lending and borrowing rate by 0.25 and 0.50 per cent respectively, which was well to expectation of the major market players, brokers said. The bank also raised its projections for economic growth to 8.5 per cent this fiscal from the earlier estimate of 8 per cent, which further bolstered the market sentiment. Banking stocks were in keen demand on expectations of better quarterly earnings. The BSE bankex rose by 0.69 per cent to 11,478.26 points after stocks of State Bank of India surged by Rs 26.15 to Rs 2,435, Punjab National Bank by Rs 14.35 to Rs 1,053.15 and HDFC Bank by Rs 13.65 to Rs 2,065.75. ICICI Bank, Bank of India, Federal Bank, Kotak Mahindra Bank, Union Bank and Central Bank stocks also recorded handsome gains. The broad-based National Stock Exchange index Nifty rose by 12 points to 5,430.60 points. The auto sector index gained the most by 2.44 per cent to close at 8,337.96 as Bajaj Auto surged by Rs 123.35 to Rs 2,649.95 and Hero Honda by Rs 53.85 to Rs 1,865.70. The realty sector index rose by 1.47 per cent to 3,461.25 as DLF, the biggest real estate developer, gained 2.06 per cent to Rs 319.50 on reports the domestic economic recovery firmly in place and strengthening.
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By Ben Rooney, staff reporter July 30, 2010: 6:10 PM ET
NEW YORK (CNNMoney.com) -- Despite a mixed performance on Friday, stocks booked the best monthly gain in a year, with the Dow Jones industrial average and S&P 500 both rising nearly 7% in July. Stocks were supported this month by strong quarterly financial results from major U.S. companies. About 75% of the roughly 300 companies in the S&P 500 that have reported earnings so far have beat analysts' estimates. But the earnings optimism has been tempered by ongoing concerns about the economy, particularly worries that tepid job growth will eventually undermine corporate profits.
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"Even though earnings and guidance have been better than expected, there's still skepticism in the market because jobs have been missing in action," said Alec Young, an equity strategist at Standard & Poor's.
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Looking ahead, Young said the market could push higher late next week if the government's July employment report comes in better than expected on Friday. Economists believe the report will show employers cut 160,000 jobs in July after a loss of 125,000 the month before. Economy: Gross domestic product, the broadest measure of the nation's economic activity, rose at a 2.4% annual rate in the second quarter, down from an upwardly revised 3.7% in the first quarter. Economists surveyed by Briefing.com had expected GDP to show an annualized rate increase of 2.5%. It was the fourth straight quarter of growth, and seemed to back some economists' views that the recession that began in December 2007 ended at some point in the middle of 2009. But the report indicated that consumer spending, which drives the bulk of U.S. economic activity, remained weak.
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Separately, the Reuters-University of Michigan Consumer Sentiment index fell to 67.8 in July from 76 the month before. While the index reflected how nervous consumers were about the economy and job market, the decline was slightly smaller than expected. Economists had expected the index to fall to 67.5. The Chicago PMI, a regional reading on manufacturing, rose more than expected in July. The index rose to 62.3 this month from 59.1 in June. Economists were expecting a reading of 56.3. Earnings: Chevron (CVX, Fortune 500) posted second-quarter results that topped forecasts and said profit tripled in the quarter. Shares rose about 0.1%. Merck (MRK, Fortune 500) reported earnings per share that beat analysts' expectations, even as net income fell 52% on acquisition costs. Sales growth, however, fell short of expectations. Shares fell 1.5%. Companies: Walt Disney (DIS, Fortune 500) said early Friday it will sell Miramax Films for about $660 million to an investor group, Filmyard Holdings.
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Bonds: Treasury prices rose, pushing the yield on the 10-year note down to 2.91% from 2.99% late Thursday. Bond prices and yields move in opposite directions. How much of a hit did you take in the recent correction? Are you worried about a bear market? What changes have you made in your portfolio and what changes do you plan on making for the rest of the year? E-mail your story to realstories@cnnmoney.com and you could be featured in an upcoming article. For the CNNMoney.com Comment Policy, click here.
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Log in to Facebook to post your comment John Manley 3:46 pm That's funny - the markets have gone nowhere over the last two months and are still down substantially from the beginning of May. All the markets did in July wa retrace the implosion from June. Nice spin on a dreary picture.
Sean Mark 1:58 pm This is a deflationary crash. Stocks are a bubble. Bonds are a bubble. Housing is bubble. We have not seen the bottom in March 2009. This is like Tulip mania, South sea bubble. It will be visible in 400 year charts. When you live through it i hard to realize how over valued the stocks are. This is like walking on earth and realizing that it is round! Here is why the stocks are over valued: http://www.tradingstocks.net/html/near_bottom.html Stocks can crash and not come back for decades. It has happened to the past generations. Do not think we are immune. We a generation late to chase growth stocks: http://www.tradingstocks.net/html/stock_market_bottom.html
Daulton Loman 1:55 pm I think it's time to start investing in the Forex Market. Stock market just isn't doin it. http://Forex-Market-Alerts.Blogspot.com/
Christi Wright 1:39 pm Hey nice work driving the price of gold and silver down boys right before options expiry and GDP numbers.Watch it take off again.Crooks!!
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Giosue' Lorenzo Campi 12:38 pm the typical us exhaltation...awful data of gdp..and out of brain reaction for other smaller results that don't make a gdp result.Idiots.
Giosue' Lorenzo Campi 12:24 pm These are the moments the bubble are gowing ready to explode.
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Russian energy giant Gazprom tops the list, while BP and Toyota round out the top 5. More Bulls tiptoe into homebuilder stocks Worst job on Earth: BP calling all applicants
ECONOMY Consumers not spending like drunken sailors

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The Hindu An investor reacts after looking at the display screen on the facade of the Bombay Stock Exchange in Mumbai. The 30-share index gained 171.69 points, or 0.83 per at 18,039.98 points in morning trade. File photo: Shashi Ashiwal
Good June quarter profits by ICICI Bank and others, coupled with the monsoon revival, triggered a strong rally in markets on Monday, with the BSE benchmark Sensex recording a 213-point gain, its biggest rise in five weeks. The market showed a bullish trend right from the onset of business in line with firm Asian cues. With European bourses also being promising, the Bo Stock Exchanges 30-share benchmark rose by 212.92 points, or 1.19 per cent, to 18,081.21, regaining the 18,000-level after three days. Banking, consumer durable, metal, FMCG and realty segments were at the forefront of the rally. Auto stocks were also up at initial stages after strong July vehicle sales reported by some auto companies, but most of the gains were pared by the clo on late profit-booking. The Sensex slipped below the psychological 18,000-level on a spate of selling last week. Markets had achieved this level last month on persistent fore inflows, which have crossed USD 10 billion so far this year. The National Stock Exchanges wide-based Nifty-50 also rose by 1.19 per cent to settle at 5,431.65 points. This is the steepest gain for the Sensex in five weeks... The revival of monsoon rains and good quarterly numbers by some big corporates boosted the investment sentiment of Dalal Street. The rally may continue, if nothing happens wrong in coming days, CNI Research CMD Kishore P Ostwal said The countrys top private sector lender ICICI Bank jumped nearly 4 per cent, the maximum in the BSE-30 pack, on robust first quarter growth numb supported by a positive outlook from many brokerage houses. The jump saw the banking index surging by over 4 per cent. ICICI Banks June quarter profit grew by 16.8 per cent year-on-year to Rs 1,026 crore, which was largely in line with street expectations, analysts sai ICICI Banks profits were led by better productivity and lower non-performing assets provisions, brokerage firm Anand Rathi said in a note. Other banking stocks also attracted handsome buying, with SBI increasing by 3.09 per cent, HDFC 1.43 per cent and HDFC Bank 0.42 per cent. Analysts said that investors were also bullish on banking stocks after Europes biggest bank, HSBC Holdings Plc, said first quarter net income had do USD 6.76 billion. The countrys top telecom operator Bharti Airtel ended 3.62 per cent higher on aggressive buying at the lower level. State-run ONGC rose 2.73 per cent after the energy major reported a net profit of Rs 3,660 crore, marginally higher than estimated by brokers, on lo depreciation charges. Snapping its three-day loss, Reliance Industries Ltd which has the maximum weightage in the Sensex gained 0.49 per cent to finish at Rs 1,01 In the BSE-30, 25 stocks ended with gains, while 5 closed in the red. All the 13 sectoral indices on BSE ended higher, with bankex, consumer durable metals leading the gains. Sterlite surged 2.63 per cent, Tata Steel 1.86 per cent and Jindal Steel 0.24 per cent. Ahead of its quarterly numbers, Hindalco jumped 2.53 per cent
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and M&M, which lost 0.17 per cent.
Though the market breadth was decisively positive, traded volume was quite low when compared to the average of the past few sessions, IIFL Vice (Research) Amar Ambani said. Markets in Asia ended in the green. Japans Nikkei gained 0.3 per cent, the Hang Seng index in Hong Kong rose 1.8 per cent and the Shanghai Comp added 1.3 per cent. European indices were also in positive terrain, with the FTSE 100 in the U.K. higher by 2 per cent. U.S. stock futures, too, were pointing at a higher o Wall Street. Keywords: Sensex, BSE, share trading
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By Ben Rooney, staff reporter August 2, 2010: 4:51 PM ET
NEW YORK (CNNMoney.com) -- Stocks rallied Monday, extending last month's gains, as investors welcomed upbeat economic reports and strong earnings from European banks. The Dow Jones industrial average (INDU) rose 208 points, 2%, according to early tallies. The S&P 500 (SPX) index jumped 24 points, or 2.2%, and the Nasdaq (COMP) composite gained 41 points, or 1.8%. The rally came after stocks rose 7% in July, marking the best monthly gain in a year, on solid second-quarter results from a range of major U.S. companies. The bullish tone carried over Monday as investors cheered quarterly results from European banks HSBC and BNP Paribas.
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"I think the market is looking at earnings reports and saying things are not as bad as we thought," said Dave Hinnenkamp, chief executive at KDV Wealth Management. "Yes, the economic recovery won't be at a brisk pace, but companies are still earning money and their balance sheets are in good shape." Given the strength of corporate earnings, Hinnenkamp said the S&P 500 could be headed back towards its late-April highs near 1,200. The broad stock index ended Monday at 1,125.81 after breaking through a key technical level. Energy giants Chevron (CVX, Fortune 500) and ExxonMobil (XOM, Fortune 500) both jumped as oil prices surged past $80 a barrel on renewed optimism about global economic growth. But the rally was broad-based too. All 30 Dow
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than-expected decline in a gauge of U.S. manufacturing activity and a surprise increase in construction spending. While questions remain about growth in the second half of the year, Monday's reports helped ease worries that the economy could relapse into recession. "Manufacturing is still holding steady," said Steven Goldman, market strategist at Weeden & Co. "That gives investors a convincing argument that the economy is not going to double dip." Stocks closed mixed Friday as economic concerns tempered upbeat earnings sentiment. Despite the rally in July, the market is up modestly for the year. Stocks had slumped in April and May amid concerns about the European debt crisis and mixed economic indicators in the United States. Looking ahead, investors said the focus may shift later this week from earnings to the economy, particularly the outlook for the U.S. job market. "Earnings are going to start to wane," said Stephen Carl, head equity trader at Williams Capital Group. "So the market is going to be reacting to the economic numbers." On Tuesday, investors will take in government data on personal income and spending before the market opens, while a report on factory orders comes out later in the morning. Automakers are slated to report July sales throughout the day. The government's monthly payrolls report is due from the Labor Department on Friday. Economists expect the report to show that the economy lost jobs for the second month in a row in July and the unemployment rate is forecast to increase slightly. Economy: A key index of U.S. manufacturing activity came in better than expected in July, while construction spending rose unexpectedly in June. The Institute for Supply Management's (ISM) index eased slightly last month to a reading of 55.5 from 56.2 in June. But the measure has been above 50, the level indicating growth, for a full year. Economists surveyed by Briefing.com had expected the index to fall to 54.2, according to consensus estimates. Separately, the Commerce Department said construction spending rose 1% in June to a seasonally adjusted annual rate of $836 billion. Economists expected construction spending to fall 0.8% in June, following a 0.2% dip in May.
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Companies: HSBC (HBC), Europe's biggest bank, said Monday that its earnings more than doubled in the first half of the year. The bank's profit climbed to $6.76 billion during the first six months of the year, up from $3.35 billion in the same period a year earlier.
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Shares of BlackBerry maker Research in Motion (RIMM) fell 1.7% after the United Arab Emirates said it will ban the Web operations of more than a halfmillion BlackBerry users due to security issues. Bernanke: Federal Reserve chairman Ben Bernanke said Monday that financial markets have improved from the depths of the crisis, but he acknowledged that conditions have become "somewhat less supportive of economic growth in recent months." He said concerns about the fiscal health of many European economies had weighed on the market this year, although a recent round of bank "stress tests" have eased those worries. In a speech about the financial challenges facing state governments, Bernanke said the economy should continue to grow at a "moderate pace" as businesses restock depleted inventories and consumer spending gradually resumes. However, the recovery faces "notable restraints," he said, such as high unemployment and weakness in the housing market.
Financial reform: Treasury Secretary Tim Geithner is due to speak on Wall Street reform at New York University after the market closes. Geithner will promise to press federal bureaucrats to swiftly translate a sprawling 2,300-page regulatory reform bill into clear new financial rules, according to excerpts of the speech released by the Treasury. "We will move as quickly as possible to bring clarity to the new rules of finance," Geithner will say in the speech. "The rule writing process traditionally has moved at a frustrating, glacial pace. We must change that." World markets: European stocks rallied Monday. The CAC 40 in France closed 3% higher. The FTSE 100 in Britain rose 2.6% and Germany's DAX added 2.3%. Asian markets also rose. The Hang Seng in Hong Kong jumped 1.8%, the Shanghai Composite rose 1.3% and Japan's Nikkei gained 0.4%. China's manufacturing sector is still growing, but the pace is starting to slow, according to data released over the weekend from the government-run China Federation of Logistics and Purchasing. Currencies and commodities: The dollar was lower versus the euro and the British pound, but up against the Japanese yen. U.S. light crude oil for September delivery rose $2.51 to settle at $81.46 a barrel. COMEX gold's December contract edged up $1.50 to close at $1,185.40 per
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Log in to Facebook to post your comment Tom Wittmann 1:46 pm It is very interesting what the self interested andpolitical motivated doomsayer, incl rereporting: " if the market rises 2%, do not frolick, this menas nothing!!" " if the market fall 2%, lets hit the streets with signs "the end is near!!" How long will it take people to realize that the market is irrational, manipulated eith analyst and influenced by a majority of plainly stupid forecasters which flock from a Street without real qualifications, but sporting professorships by US Universities wh money, contributing to the outrageous college costs
Iikka Kernen 1:46 pm Oil (and Nat gas) prices are practically guaranteed to increase in the long term as d India and other developing markets. The current low prices are temporary and cau economic downturn. I'm currently not invested in oil because my stock trading account focus is shorter te provider offered an oil fund I would put a chunk of my retirement savings in it with
Tim Bachler 1:44 pm Recovery will still be much slower than usual.
David Lee Bingenheimer 1:43 pm Good Call Tim!
Tim Bachler 1:43 pm The bottom line is you can't fight the tape. We broke back through the 200DMA tod for the opportunities in this market. Right now it looks like we are going higher. Unt afford to get a little less risk averse. I am not saying you have to jump in with both to my waist.
David Lee Bingenheimer 1:42 pm I bought Ford at 1.79.....there is plenty to be made but not on the market as a who this is short lived once again.......
Kevin Randy 1:41 pm i think the bulls will be with us for sometime,news about contracts in Chinese manu news.i think share prices go up when companies stop expanding and i expecting go Chinese company this month.i think those factor will bringing dow to about 11.000 t mentioning that US GDP marked growth for 12 month straight.can this mean we're like after 1981 recession?well,that's only my conclusion after reading Jeremy Siege run~
David Lee Bingenheimer 1:41 pm Eric......So when the Market was 10,500 the last time did you sell....or were you sa it slid to 9800.....?
4/6
02-Aug-2010
any time. you just need to pay attention and think for yourself. or course, you can j to Campi to invest for you, and see how that plays out...
Steven Tuck 1:35 pm So over the weekend all of a sudden all the economic indicators like unemployment sentiment and business revenues have done a 180 degree turn-around. Let's all bu things are back to normal. And also there is no glut of oil or gas and people are dri so lets buy oil. I just don't see it. I think investors are wearing their rose colored gla ostrich syndrom.
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Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the B LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: 2010 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM 20 is proprietary to Dow Jones & Company, Inc Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserve FactSet Research Systems Inc. 2010. All rights reserved.
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Stocks Sizzle as August Kicks Off; Dow Soars 208

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There's No Business Like FOX Business The bulls on Wall Street stormed into the month of August on Monday as the Dow surged more than 200 points in the wake of strong financial earnings out of Europe and manufacturing indicators in the U.S. and China that wasnt as bad as some had feared. Todays Markets The Dow Jones Industrial Average jumped 208.44 points, or 1.99%, to 10674.38, the Standard & Poor's 500 added 24.26 points, or 2.20%, to 1125.86 and the Nasdaq Composite picked up 40.66 points, or 1.80%, to 2295.36. The FOX 50 added 15.82 points, or 1.98%, to 815.12. On the heels of its best month in exactly a year, the Dows triple-digit surge left the benchmark index at its highest close since May 14. The gains were widespread but economically-sensitive commodity plays saw the heaviest buying as crude oil soared above $80 a barrel and copper clinched a 14-week closing high. Wall Street cheered solid results from European banking titans HSBC (HBC: 53.76 ,+2.70 ,+5.29%) and BNP Paribas as well as stronger-than-expected U.S. manufacturing data for July. Similarly, China reported manufacturing-sector growth that was viewed as being neither too hot, nor too cold.
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,+3.16%) also saw heavy buying. The index's laggards were defensive in nature, including Travelers (TRV: 50.82 ,+0.38 ,+0.75%) and Wal-Mart (WMT: 51.38 ,+0.18 ,+0.35%). Its huge. There are a few more chips being put on the table in the recovery theme, said Peter Kenny, managing director at Knight Capital Group. The market is finally focusing purely on earnings and turning a blind eye to the macro economic data that has been lukewarm, at best. Commodity-related stocks enjoyed the biggest bursts of buying as the global economic pessimism faded. The energy sector soared 3.5% and individual stocks like Hess (HES: 55.93 ,+2.33 ,+4.35%) and Peabody Energy (BTU: 48.41 ,+3.27 ,+7.24%) saw even bigger gains as crude oil soared above $80 and $81 a barrel. Crude jumped $2.39 a barrel, or 3.03%, to $81.34 -- its best close since May 4. The basic materials sector also rallied as copper jumped 2.36% a pound to $3.385 -- its highest settle since April 26. Gold gained $1.70 a troy ounce, or 0.14%, to $1,183.40. Wall Street's rally gained momentum after the Institute for Supply Management said its July purchasing managers index came in at 55.5, below June's 56.2 but solidly beating expectations for a reading of 54.1. A reading above 50 indicates expansion. The report helped boost manufacturers such as General Electric (GE: 16.40 ,+0.27 ,+1.67%) and 3M (MMM: 87.41 ,+1.91 ,+2.23%). Also, the Commerce Department said June constriction spending inched higher by 0.1%, surprising economists who had forecasted a drop of 0.7%. Housing-related stocks such as Home Depot (HD: 29.12 ,+0.62 ,+2.18%) and Toll Brothers (TOL: 18.00 ,+0.60 ,+3.45%) received a lift from the data. European markets benefited from stronger-than-expected first-half results from HSBC, Europes largest bank. HSBC posted pre-tax first-half profits of $11.1 billion, blowing away forecasts from analysts for $9.1 billion. The bank saw its bad debts tumble to $7.5 billion -- the lowest level since the crisis began. HBC's stock soared 5.4% on Monday. Likewise, Frances BNP Paribas, the euro zones second-largest bank, posted a second-quarter profit of 2.1 billion euros, well above estimates for 1.7 billion euros. Meanwhile, Wall Streets economic worries were further soothed by the latest Chinese manufacturing data that showed activity fell to 51.2 in July. While that slightly missed estimates, it also eased concerns of Chinas economy overheating and helped send the Shanghai Composite to a 10-week high. Despite the bullish mood on Wall Street, some traders were still expressing caution, saying fears earlier this summer of a potential double-dip recession were not exaggerated. I dont think its overblown. I think if anything, its a little bit of a tug-of-war between the two camps about a double-dip recession, said Davis. Im just not buying that we are breaking out here on August 1st for the balance of the year. Corporate Movers BP (BP: 39.48 ,+0.98 ,+2.55%) is being investigated by the Securities and Exchange Commission over whether or not its employees profited from illegal trading activity in its stock, Reuters reported. The probe, which is said to be preliminary, is focusing on whether or not the energy giant properly disclosed risks associated with its operations in the Gulf of Mexico. Washington Post Co. (WPO: 433.84 ,+12.83 ,+3.05%) is nearing a deal to unload struggling Newsweek magazine to Sidney Harman, The Wall Street Journal reported. Harman, the 91-yearold founder of an audio-equipment company would commit to keeping most of Newsweeks more
expand sales of their ico to 35. GE Capital works extens provide Inventory and s realize their full brand e
GEs valuable insights o manages inventory in a promotes healthy growth
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billion, narrowly exceeding forecasts for $8.61 billion. Humana also upped its 2010 view, now forecasting EPS of $5.65 to $5.75 on revenue of between $33.5 billion to $34.5 billion. Research in Motions (RIMM: 56.98 ,-0.55 ,-0.96%) BlackBerry service was scheduled to be shut down in the United Arab Emirates due to security concerns. The ban would stretch to foreign visitors to the UAE as well. Global Markets The U.K.'s FTSE 100 climbed 2.65% to 5397.11, France's CAC 40 surged 2.99% to 3752.03 and Germany's DAX added 2.34% to 6292.13. In Asia, Tokyo's Nikkei 225 closed up 0.35% to 9570.31, Hong Kong's Hang Seng rose 1.82% to 21412.80 and China's Shanghai Composite close up 1.33% to 2672.52.
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Business Markets
Sensex gains 103 points to highest level in over 30 months

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The Hindu Brokers closely monitoring the Sensex level in Mumbai. File photo
The BSE benchmark Sensex today advanced by another 103 points to its highest level since February 5, 2008, led by IT majors Tata Consultancy Ser Infosys Technologies amid expectations that a weak rupee against the US dollar will boost software export earnings. The Bombay Stock Exchanges 30-share index, which gained nearly 247 points in the previous two trading sessions, rose further by 102.61 points, or cent, to 18,217.44 today. In tandem, the broad-based National Stock Exchange index Nifty rose by 28.30 points, or 0.52 per cent, to 5,467.85, after touching an intra-day hig 5,481.90. Market analysts said the trading sentiment was bolstered by rupee weakness against the US dollar, raising hopes of higher earnings by software expo companies. A weak rupee would boost the value of software sales made in U.S. dollars abroad when converted into the local currency. The rupee lost 12 paise against the U.S. dollar in early trade today due to demand for the U.S. currency from importers. Over 50 per cent of Indian software companies revenue comes from U.S. and European markets. Good first quarter numbers from Chennai-based and Nasdaq-listed Cognizant Technology Solutions Corp also improved investor optimism in IT sto Cognizant Technologies reported a profit that topped market estimates for the sixth straight quarter, helped by a surge in discretionary projects. The company has also raised its 2010 revenue outlook well above Wall Streets most upbeat projections. However, the upsurge was capped by a mixed trend in the Asian region and a weaker opening in Europe this afternoon. In the 30-BSE components, 20 stocks gained while 10 shares ended with losses. The upsurge was led by IT, Tech, capital goods and power sector sha The IT sector index gained the most, rising by 3.26 per cent to 5,640.99 as Infosys Technologies scrip shot up by Rs. 83.25 to Rs 2,867.80 and Tata Consultancy by Rs. 36.90 to Rs. 870. The two firms carry nearly 16 per cent combined weightage on the Sensex. Infosys and Tata Consultancy get more than half of their revenue from the US. Another IT major, Wipro Ltd, the countrys third largest, climbed by Rs. 428.85. With buying activity spilling over a widefront, the small cap index rose by 0.53 per cent to 9,516.49, while the mid cap index gained 0.03 per cent t However, Reliance Industries, with over 13 per cent weightage on the Sensex, fell by Rs 10.20 to Rs. 1,015.90. Keywords: Sensex, opening trade
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FOXBusiness.com - Upbeat Data Inspire

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Upbeat Data Inspire Bulls on Wall Street

By Matt Egan
Published August 04, 2010 | FOXBusiness Print Email Share Comments (0) Recommend Text Size
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There's No Business Like FOX Business Wall Street climbed steadily higher on Wednesday as the bulls cheered new signs the U.S. economy may not be slowing down as much as some had feared. Todays Markets The Dow Jones Industrial Average rose 44.05 points, or 0.41%, to 10680.43, the Standard & Poor's 500 added 6.78 points, or 0.61%, to 1127.24 and the Nasdaq Composite picked up 20.05 points, or 0.88%, to 2303.57. The FOX 50 gained 2.20 points, or 0.27%, to 814.27. The markets' economic fears were soothed by a pair of new economic reports revealing the private sector created more jobs in July than was previously expected and service-sector activity unexpectedly accelerated last month. Combined, the indicators helped quiet concerns that the U.S. will suffer to double-dip recession. I would characterize it as a cautiously optimistic tone with confidence edging higher as we move into the critically-important jobs report on Friday, said Craig Peckham, equity trading strategist at Jefferies & Co. The market is really struggling to figure out how much to commit to the long side ahead of that jobs number. Wall Street managed to overcome a mid-morning selloff triggered by a new report indicating China wants its banks to brace for home prices to plunge by as much as 60%, reinforcing worries of a
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aircraft, we service airli investors, financial instit worldwide.
Wall Street hit session highs after the Institute for Supply Management said its service-sector index unexpectedly jumped in July to 54.3, compared with 53.8 in June. Economists had forecasted this key non-manufacturing index would decline to a reading of 53.1, providing another piece of evidence for the slowing economy. A reading above 50 indicates expansion. Worries about the labor market were lessened a bit on Wednesday by the ADP private-sector jobs report, which showed private businesses added 42,000 jobs in July. While still demonstrating sluggish job growth, the report solidly beat expectations from analysts for a gain of just 25,000 jobs. The stronger-than-expected ADP report also sets the stage for a pair of other closely-watched labor indicators later this week: Thursdays weekly unemployment claims report and Fridays monthly jobs report. Economists forecast the U.S. lost 70,000 jobs in July and the unemployment rate stood rose to 9.6%. Market sentiment was further buoyed by the latest batch of corporate results, which continue to largely exceed Wall Streets expectations. Not only did Time Warner, Toyota and Ralph Lauren Polo (RL: 85.50 ,+6.22 ,+7.85%) beat the Street, all three companies lifted their earnings guidance. The bulls on Wall Street were able to wave off concerns about a Bloomberg News report saying Chinas banking regulators told banks last month to conduct a new round of stress tests to brace for a drop in home prices of 50% to 60%, up from previous worst-case scenarios of just a 30% decline. The report underscores fears of a deep housing bubble in China, but also shows regulators are serious about preparing the banks in the event of a severe downturn. The commodities complex ticked mostly higher on Wednesday. Crude oil fell 8 cents a barrel, or 0.10%, to $82.47. Copper rose 1.36% a pound to $3.4005 -- its highest settle since April 26. Gold jumped $8.50 a troy ounce, or 0.72%, to $1,193.70. Corporate Movers Intel (INTC: 20.73 ,-0.14 ,-0.67%) said it reached a deal to settle anti-competitive charges with the Federal Trade Commission. The chip giant said it agreed to provisions to foster chip competition, including a ban on the use of threats and bundled prices. Intel also agreed to modify intellectual property agreements with Advanced Micro Devices (AMD: 7.51 ,0.00 ,0.00%), Nvidia (NVDA: 9.32 ,+0.38 ,+4.25%) and Via. BPs (BP: 39.39 ,-0.61 ,-1.52%) stock declined 2% even as the U.S. said it has high confidence no oil is leaking from the BP well that spewed millions of barrels of oil into the Gulf of Mexico. U.S. officials said the response is now moving to a restoration phase where the government will determine how to best clean up the Gulf and how much to fine the U.K. oil giant. Toyota (TM: 74.25 ,+1.44 ,+1.98%) swung back into the black with a fiscal first-quarter profit of Y190.47 billion, topping expectations for Y148.23 billion. The Japanese auto titan also upped its full-year operating profit forecast to Y330 billion. Time Warner (TWX: 32.49 ,+0.12 ,+0.37%) posted a 7.3% increase in profits and topped estimates with non-GAAP EPS of 60 cents. Analysts had been looking for EPS of just 45 cents. The parent of Time Inc. and CNN said its revenue grew by 7.7% to $6.38 billion, exceeding estimates. Time Warner also upped its 2010 non-GAAP EPS growth outlook to at least 20%, up from the mid-teens earlier.
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AOL (AOL: 22.78 ,+1.66 ,+7.86%) swung to a second-quarter loss of $9.89 a share and suffered a steeper-than-expected 26% drop in revenue to $584.1 million. Analysts had projected revenue of $602 million. AOL took a $1.41 billion charge related to its sale of social-networking site Bebo. Polo Ralph Laurens (RL: 85.50 ,+6.22 ,+7.85%) fiscal first-quarter profits soared by 57% amid higher Asian sales and the apparel makers EPS of $1.21 easily beat the Streets view of just 89 cents. Sales jumped 13.5% to $1.12 billion, coming in just shy of forecasts for $1.14 billion. Ralph Lauren also upped its full-year sales and profit outlook. Global Markets The U.K.'s FTSE 100 fell 0.19% to 5386.16, France's CAC 40 rose 0.35% to 3760.72 and Germany's DAX gained 0.37% to 6331.33. In Asia, Tokyo's Nikkei 225 dropped 2.1% to 9489.34, Hong Kong's Hang Seng climbed 0.43% to 21549.90 and China's Shanghai Composite jumped 0.44% to 2638.52.
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Business Markets
Sensex advances 143 points; realty, auto biggest gainers

PTI
Led by the realty and consumer durables sectors, the BSE benchmark Sensex today rose by over 143 points to its highest close since February 1, 2008 expectations that a good monsoon this year will boost demand. The Bombay Stock Exchanges 30-share index advanced by 143.51 points to 18,287.50. During the session, it touched a high of 18,309.25 points. The broad-based National Stock Exchange index Nifty rose by 46.90 points to 5,486.15, after touching an intra-day high of 5,492.30. However, the upsurge in the market was capped after shares of the most valuable entity, Reliance Industries, fell below Rs. 1,000 mark level after los 6.80 to Rs. 993.50. The trading sentiment was bullish amid a firming trend in the Asian region and a higher opening in Europe this afternoon. In the 30-BSE index components, 27 stocks rose, while three ended with losses, after most of the Asian stock markets climbed and bourses in Europe a strong note this afternoon. The realty sector index gained the most, rising by 4.47 per cent to 3,602.50 led by Indiabulls Real Estate, which beat six other bidders to buy land in Indiabulls Real Estate rose by 3.51 per cent to Rs 175.70. Similarly, DLF Ltd climbed by 3.97 per cent to Rs 319.80, its biggest gain in a month and Unitech Ltd by 6.29 per cent to Rs. 90.45. The consumer durables sector was the second best performer, gaining 2.40 per cent to 5,594.51, followed by the metal index, which rose by 1.52 per 15,705.88. The banking sector index rose by 1.28 per cent to 11,944.07 amid expectations that the good monsoon might raise demand for loans. The auto sector per cent to 8,630.50 following a pick up in auto sales. Car-maker Tata Motors scrip jumped ahead of its quarterly earnings report tomorrow. The stock rose by Rs. 24.60 to Rs. 918.95. Keywords: Bombay Stock Exchange, share market, stock market
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13-Aug-2010
Business Markets
Sensex gains 93 points; SBI scales new peak

PTI
The Hindu A file picture of Bombay Stock Exchange. Photo: Vivek Bendre
Buoyed by promising first quarter results from India Inc, the Bombay Stock Exchange benchmark Sensex today rose by 93 points, with realty and ba stocks leading the gains amid a positive trend in Asia and Europe. Boosted by strong June quarter numbers from Tata Steel and SBI, the 30share index put concerns over rising food inflation and a slowdown in ind output behind it to settle higher by 93.13 points or 0.52 per cent, at 18,167.03. The Sensex touched a high of 18,260.39 at midsession. Analysts said any significant rally in the Sensex was thwarted by cagey investors, who booked profits after every rise. On a weekly basis, the Sensex recorded an increase of 0.12 per cent, extending gains for the second consecutive week. The National Stock Exchanges widebased Nifty index, too, increased by 0.66 per cent to 5,452.10 points. The market sentiment is upbeat on smart performance by some big corporate houses and persistent inflow of foreign funds, Kotak Mahindra Old M Insurance CIO Sudhakar Shanbhag said. He, however, added that an interim correction cannot be ruled out in the coming session as the Indian market is trading at a very high level. After the Sensex opened on a strong note, the sentiment further accelerated in the afternoon session, after European markets opened on a higher not robust growth in the eurozone gross domestic product. However, European bourses later swung into the red at midsession. Continuing its rally for the second session in a row, SBI shares jumped 2.35 per cent to a fresh record high of 2,879.95 points in the wake of yesterda announcement of 25 per cent growth in June quarter profit of the countrys largest lender. SBI numbers were well above our, as well as the Streets, estimate. The outperformance can be traced to a higherthan-expected top-line and a w of excess wage hike provision, according to brokerage house Sharekhan. Other banking stocks also attracted purchasing. ICICI Bank rose 1.19 per cent, HDFC Bank 0.58 per cent and HDFC 0.24 per cent. Snapping its seven-day-long losing streak, the countrys most valued entity, Reliance Industries, which has the maximum weightage in the Sensex, e gain of 0.70 per cent at Rs 979.05. Tata Steel climbed 1.39 per cent, a day after it reported a consolidated net profit of Rs 1,790.19 crore for the April June quarter of the fiscal. The co had suffered a loss of Rs 2,238.53 crore in the corresponding period a year ago Keywords: Bombay Stock Exchange, Sensex, Fund managers, SBI
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13-Aug-2010
FOXBusiness.com - German Juggernaut

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German Juggernaut Propels Euro Zone GDP Jump

Published August 13, 2010 | Reuters Print Email Share Comments (2) Recommend Text Size
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European economic growth accelerated sharply in the second quarter of 2010 as Germany's best performance since reunification more than made up for the struggles of Spain, Ireland and recession-ravaged Greece. A forecast-beating surge in German gross domestic product combined with a solid if less impressive rise in France to push the aggregate GDP growth rate of the 16-country euro zone to 1.0% from the previous quarter and past that of the United States, which is showing signs of flagging. The fastest growth rate for the currency bloc in more than three years compared with a rise of just 0.2% in the first quarter, was above market forecasts and also higher than a comparable U.S. second-quarter increase of about 0.6%. Many economists were surprised by the size of the surge but expect the pace to slow again in the second half of 2010 and beyond, when austerity measures in Germany and several weaker economies could lead to a deceleration, especially if some slowing in China lowers Asian demand for European goods. Germany's economy minister said the government should continue its 80-billion euros program of cuts to rein in a bloated budget deficit, even though higher growth will boost the government's coffers dramatically. German GDP rose 2.2% quarter-on-quarter, its fastest quarterly rate since the country reunified in the early 1990s following the fall of the Berlin Wall. The German government had forecast growth of 1.4% for the year as a whole. Economists say it is now likely to be 3% or more, something which only moderate expansion in the third and fourth quarters would deliver.
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and even raised questions about the survival of Europe s 11 year-old common currency. The euro gained ground after the German data.
GERMANY STREETS AHEAD The most striking element was the extent to which Germany's export-propelled economy distanced itself from the rest of the pack, and not just Grecee and other stragglers such as Portugal, Ireland and the medium-sized economy of Spain. France, which relies more heavily than its neighbor on domestic demand, reported a 0.6% increase in the same period, much of the gain coming from internal demand and companies rebuilding their inventories of goods. Paris has irked Berlin by suggesting it should do more for Europe by boosting domestic consumption, creating a bigger market for exports from other euro zone countries that need an alternative source of growth now the global era of ultra-cheap credit is gone. Italy, the third-largest economy in the euro zone, last week reported a smaller 0.4% rise in GDP for the same period and several of the smaller economies that thrived during the boom years before 2007 are faring far less well, making life hard for a European Central Bank that has to set one interest rate for all in 16 euro currency countries. In Spain, hard-hit like Ireland by the end of a building boom as well as the end of a global credit bubble, GDP remained weak, with a 0.2% rise showing it is struggling to keep its head above water after a first-quarter 0.1% GDP rise that just took the country out of recession. Greece, dependent since May on rescue funding from the rest of the euro zone while it implements a draconian austerity plan, said on Thursday its GDP shrank even harder than expected in the second quarter, with a drop of 1.5%. While European governments can take some comfort from the fact that growth looked better overall during the second quarter of the year, many policymakers fear the quarters ahead will be weaker and more in line with what the ECB predicts will be a "moderate and still uneven" recovery. "The sovereign debt crisis is not entirely over. Also we see a slowdown in the global industry. Domestic demand in Europe remains weak, with consumer spending slowing down," said Nick Kounis, economist at ABN AMRO. "The Q2 numbers are very impressive, but a slowdown looms ahead for the European economy." ECB President Jean-Claude Trichet said last week the third and fourth quarters were likely to be "significantly less dynamic" than what was shaping up to be a "really exceptional" second quarter, although he conceded that third quarter data so far had proved stronger than expected. Industrial production dipped in the euro zone as a whole in June suggesting the second quarter finished weaker than it began, but signals remain mixed. The euro zone Purchasing Managers Index for July, the first month of the third quarter, came in much stronger than expected, with the so-called composite index that combines measures of manufacturing and service sector activity suggesting a healthy expansion rate.
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FOXBusiness.com - Five-Day Slide Dies

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Five-Day Slide Dies as Bulls Cheer M&A, Earnings

By Matt Egan
Published August 17, 2010 | FOXBusiness Recommend Print Email Share Comments (2) Text Size
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There's No Business Like FOX Business The bulls on Wall Street returned from their week-long vacation on Tuesday as a near-$40 billion bid to acquire Potash and earnings beats and raised guidance from big-name retailers Wal-Mart and Home Depot lifted the Dow 100 points. Todays Markets The Dow Jones Industrial Average jumped 103.84 points, or 1.01%, to 10405.85, the Standard & Poor's 500 rose 13.16 points, or 1.22%, to 1092.54 and the Nasdaq Composite picked up 27.57 points, or 1.26%, to 2209.44. The FOX 50 added 7.24 points, or 0.95%, to 790.34. Wall Street received the catalysts for the triple-digit rally before the markets even opened as Potash (POT: 143.15 ,+31.01 ,+27.65%) disclosed it received and rejected an unsolicited $38.5 billion takeover offer, sparking a rally in the resource sector, and consumer discretionary stocks cheered upgraded outlooks from Wal-Mart (WMT: 51.03 ,+0.61 ,+1.21%), Home Depot (HD: 28.31 ,+0.92 ,+3.36%) and TJX Cos. (TJX: 41.80 ,+0.49 ,+1.19%). The markets also managed to mostly shrug off the latest disappointing economic report as the government said July housing starts grew by less than forecasted. Y d fi it l thi tti littl ld i th
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FOXBusiness.com - Five-Day Slide Dies y g g y potential to get some leg -- because it doesnt," said Michael James, senior equities trader at Wedbush Morgan Securities. Buyers who had been on the sideline for the better part of the last week jumped in to take advantage of the prices.
Almost every Dow stock made headway, led by Home Depot and economically-sensitive Alcoa (AA: 10.96 ,+0.36 ,+3.40%) and Caterpillar (CAT: 69.74 ,+1.24 ,+1.81%). The index's worst performers were Kraft (KFT: 29.26 ,-0.19 ,-0.65%) and JPMorgan Chase (JPM: 37.48 ,-0.20 ,0.53%). The Nasdaq Composite outpaced the broader markets, driven higher by big gains from technology stocks like Qualcomm (QCOM: 39.14 ,+0.50 ,+1.29%) and Garmin (GRMN: 27.68 ,+0.84 ,+3.13%). Wall Streets triple-digit rally ends the Dow's five-day slump, which was its longest losing streak since the seven-day slide that ended on July 2. Hurt by fears of a double-dip recession, the benchmark index had lost 3.7% of its value over the past week. The Dow closed just fractionally lower on Monday, while the Nadaq Composite gained 0.4%. August is so far living up to its reputation for being a historically slow month on Wall Street as volume on Monday was the lowest of the year, narrowly beating out the previous Mondays low volume. Wall Street rallied around a slew of earnings beats in the retail sector on Tuesday. Retail king WalMart beat the Street by a penny with EPS of 97 cents. While the companys revenue of $103.73 billion missed estimates and its same-store sales slid 1.8%, it upped its full-year EPS guidance to $3.95 to $4.05. Analysts had been projecting EPS of $3.99. Likewise, Home Improvements 6.8% rise in second-quarter profits and EPS of 71 cents topped expectations. And while its sales growth of 1.8% to $19.41 billion came up shy, it also raised its full-year EPS outlook to $1.90. Additionally, retailers Saks (SKS: 7.80 ,+0.18 ,+2.36%) and Abercrombie & Fitch (ANF: 35.04 ,-2.61 ,-6.93%) reported quarterly results that exceeded expectations and announced new plans to cut costs, though A&F tumbled on margin concerns. Outside of the retail space, shares of Potash (POT: 143.15 ,+31.01 ,+27.65%) surged nearly 28% to 52-week highs after the fertilizer company announced it received and rejected a $38.5 billion buyout bid from mining giant BHP Billiton (BHP: 70.19 ,-1.69 ,-2.35%). Potash called BHPs bid of $130 a share, a 16% premium on its closing price Monday, grossly inadequate and adopted a plan aimed at heading off a hostile takeover. Youve got to say thats a positive because they are saying, We are worth more than youre willing to pay. The market seems to agree with that stance, said Detrick. News of the buyout offer sent a wave of buying through the fertilizer group, fueling big rallies for shares of Intrepid Potash (NYSE:IPI) and Mosaic (MOS: 55.61 ,+4.49 ,+8.78%). The commodities complex also cheered the M&A news. Ending its own five-day slump, crude oil settled up 53 cents a barrel, or 0.70%, to $75.77. Copper jumped 1.85% a pound to $3.3375. Gold saw less buying, rising $2.10 a troy ounce, or 0.17%, to $1,226.60. The news wasnt all positive, however, as the latest economic indicators pointed to slower growth. The Commerce Department said July housing starts rose 1.7% in July to a seasonally-adjusted 546 000 units missing forecasts from analysts for a bigger increase to 555 000 units The
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Saks (SKS: 7.80 ,+0.18 ,+2.36%) beat the Street with a non-GAAP loss of 13 cents a share, compared with estimates for a loss of 17 cents. Sales climbed by 5.1% to $593.1 million, narrowly topping estimates from analysts for $585 million. The luxury retailer forecasted second-half and fullyear same-store sales growth in the mid-single digits and also detailed plans to shutter a pair of its Saks Fifth Avenue stores in California and Texas. Abercrombie & Fitch (ANF: 35.04 ,-2.61 ,-6.93%) saw its stock tumble nearly 7% even after the teen apparel retailer beat the Street with a non-GAAP profit of 22 cents a share. Analysts had been projecting EPS of 16 cents. It's possible shareholders were spooked by the company's gross margins sliding from 66.6% to 65.1%. Also, A&F announced plans to shut down 60 domestic stores and scaled back plans for international expansion. Eli Lilly (LLY : 34.75 ,-0.83 ,-2.33%) slumped 2.3% after saying it is halting the development of its experimental Alzhemiers drug semagacestat due to side effects. Also, the Food and Drug Administration raised safety concerns about its blockbuster antidepressant drug Cymbalta. TJX Cos. (TJX: 41.80 ,+0.49 ,+1.19%) posted an in-line non-GAAP second-quarter profit of 73 cents a share and a 6.8% rise in revenue to $5.07 billion. The parent of T.J. Maxx and Marshalls also upped its full-year non-GAAP EPS guidance. Global Markets The U.K.'s FTSE 100 climbed 1.41% to 5350.55, France's CAC 40 rose 1.82% to 3663.13 and Germany's DAX jumped 1.57% to 6206.40. In Asia, Tokyo's Nikkei 225 sank 0.38% to 9161.68, Hong Kong's Hang Seng rose 0.12% to 21137.40 and China's Shanghai Composite gained 0.38% to 2671.89.
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IT stocks zoom on US economic recover

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Market News Stocks in News Views/Recommendations Stock Quotes Market Calendar Live Commentary You are here: Home Markets Stocks Stocks in News 18 AUG, 2010, 07.54PM IST,PTI
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IT stocks zoom 2.21% on US economic recovery hopes

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Topics us | tcs | oracle | it stocks | it | infosys technologies | hcl tech | bombay stock exchange
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MUMBAI: Shares of IT companies on Wednesday ended over 2 per cent higher on the Bombay Stock Exchange after a flurry of buying by funds following a key report showing that factory output in the US is on the rise, boosting investor confidence that global demand will be robust.
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Reflecting the bullish trend, the 10-share IT index gained the most among among the sectoral indices on the BSE, rising by 120.55 points, or 2.21 per cent, to 5,581.24 points after moving between 5,585.04 and 5,478.62 points. Brokers said buying interest in software sector stocks picked up momentum on expectations of an early US economic recovery after the announcement of positive factory output data yesterday. Indian software exporters get more than 50 per cent of their revenue from US and European markets. In addition, overnight gains in Indian companies ADRs (American Depository Receipts) also supported the upside in software exporters' stocks, they said.
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Shares of the country's second largest software exporter, Infosys Technologies, jumped 1.92 per cent to Rs 2,805.15. During the session, 68,657 shares of the IT bellwether changed hands on the BSE. Another software major, TCS, jumped 2.13 per cent to Rs 868.80 after touching a high of Rs 873.85. Over 1.45 lakh TCS shares were traded on the BSE. In addition, Wipro rose by 1.83 per cent to Rs 420.05, with over 1 lakh shares changing hands on the bourse. Other major gainers in the sector include HCL Tech, which rose by 3.17 per cent to Rs 409.60, Mphasis by 3.85 per cent to Rs 592.55, Oracle Fin by 1.08 per cent to Rs 2,075.50 and Rolta India by 2.69 per cent to Rs 173.60. Meanwhile, the benchmark Sensex closed higher by 208.27 points, or 1.15 per cent, at 18,257.12.
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18-Aug-2010
Business Markets
Sensex closes 208 poins higher

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AP An investor pleased with market trends. File photo
Hectic buying activity at the fag-end of trade pushed up the Bombay Stock Exchange benchmark Sensex by over 208 points today as funds squared u pending positions amid a firming global trend. After remaining range-bound for most of the day, the Sensex spurted to close with a gain of 208.27 points at 18,257.12 as information technology, FM and banking stocks recorded handsome gains. The broad-based National Stock Exchange index Nifty rose by 65 points to 5,479.15, after moving between 5,487.95 and 5,416.25 during the session Marketmen said the rally was sparked after a key report showed that factory output in the US has jumped twice as much as forecast, boosting invest confidence that global demand will be robust enough to drive corporate earnings growth. In the 30-BSE index component, 22 stocks closed with gains, while eight ended in the negative zone. The information technology sector gained the most by adding 1.96 per cent to 5,567.53 as Infosys Technologies rose by Rs 52.85 to Rs 2,805.15. Indi exporters get more than 50 per cent revenue from the US and European markets. The FMCG sector was the second-best performer, rising by 1.45 per cent to 3,355.22, followed by the metal segment, which gained 1.43 per cent to 15 The auto sector index advanced by 1.27 per cent to 8,873.38 as Tata Motors, the owner of U.K.-based luxury brand Jaguar Land Rover, added Rs 42 1,047.60 on the back of record sales last month. With buying activity spilling over a wide-front, the mid cap sector index rose by 0.85 per cent to 7,760 and the small cap index by 0.70 per cent to 9, Keywords: stocks, markets, Sensex, BSE
1/1
19-Aug-2010
Business Markets
Sensex rises by 198 points to over 30-month high

PTI
Extending its gains, the BSE benchmark Sensex today rose by nearly 198 points to an over 30 -month high on fund-based buying amid optimism tha inflation might boost demand for loans and consumer durables. The Sensex, which gained 208 points in the previous session, advanced further by Rs. 197.82 points, or 1.08 per cent, to 18,454.94, a level last seen i 2008. Similarly, the broad-based National Stock Exchange index Nifty spurted by 61.05 points, or 1.11 per cent, to 5,540.20 as bank and metal stocks recor handsome gains. With a firming trend discernible in overseas markets, the upsurge in domestic equities was bolstered by Sensex heavyweight Reliance Industries join rally, snapping a three-day losing streak. Reliance Industries shot up by Rs. 12.05 to Rs. 976.80. Marketmen said easing inflation was mainly responsible for the indexs rise, with hope of better demand for loans to buy homes, auto and fast movin consumer durable items. They said investors were also optimistic that demand will improve due to enhanced buying power in rural areas on account of better crops following monsoon rains. The banking sector index gained the most, rising by 1.92 per cent to 12,627.25. Mortgage leader Housing Development Finance Corp climbed to an all-time high. HDFC gained Rs. 22.90 to Rs. 644.10 in todays session. ICICI Bank also registered handsome gains, climbing by Rs. 42.50 to Rs. 1,012.55. The FMCG sector index was the second-best performer, rising by 1.63 per cent to 3,409.88, followed by the metal index, which gained 0.97 per cent 15,440.97. The auto sector index rose by 0.21 per cent to 8,892.44 as Bajaj Auto Ltd, the second-largest motorcycle maker, gained Rs. 70.30 to Rs. 2,748.85 aft added to the National Stock Exchanges main index measure. With buying activity spilling over a wide-front, the mid cap sector index rose by 0.91 per cent to 7,830.90 and the small cap index by 0.79 per cent to Keywords: NIFTY, Sensex
1/1
01-Sep-2010
Business Markets
Sensex surge on better growth concerns, higher export

PTI
The Hindu Stock brokers in a happy mood after the market went up. File Photo: Paul Noronha
The Bombay Stock Exchange benchmark Sensex gained 235 points to a one-month high today on heavy buying by funds influenced by strong GDP g the Indian economy and rising exports amid firming global cues. The Sensex shot up by 234.75 points, or 1.31 per cent, to 18,205.87, translating into its highest gain in 10 weeks to a level last seen on August 4, led by stocks of raw material producers as investors speculated that economic expansion will boost profitability and demand. The Sensex had lost 60.99 po yesterday. Similarly, the broad-based National Stock Exhange index Nifty rose by 69.45 points, or 1.29 per cent, to 5,471.85. Renewed buying by foreign funds, a rise in exports for the ninth straight month in July, strong auto sales, impressive 8.8 per cent GDP growth, a reb Chinas manufacturing activity and smart growth in Australias economy in Q2 also helped the Sensex post impressive gains. Index heavyweight Reliance Industries snapped its seven-day losing streak and gained Rs. 17.60 to Rs. 936.45, while the second most valuable scrip Infosys Technologies, rose by Rs. 68.65 to Rs. 2,775.75. The metal sector index gained the most, rising 3.02 per cent to 15,429.53 after Sterlite Industries, the largest copper producer, gained Rs. 5.40 to Rs the back of a surge in metal prices in international markets. Similarly, Tata Steel rose by Rs.15.35 to Rs. 537.75, its highest close since August 10. From the BSE-30 component, 27 counters ended with gains while only three finished with losses. All the sectoral indices ended in the green, higher b 3.02 per cent and 0.28 per cent. Among the major gainers, RCom spurted by 4.94 per cent, Hindalco by 4.48 per cent, Bharti Airtel by 3.10 per cent, DLF by 2.57 per cent and R-Infr per cent. Amongst sectoral indices, the BSE-Realty index jumped by 99.15 points, or 2.98 per cent, the BSE-Tech index by 75.93 points, or 2.25 per cent, and index by 107.72 points, or 2.00 per cent. Auto stocks initially were in keen demand on higher sales growth, a major part of the gains were pared on la booking. Barring China which finished down by 0.50 per cent, other Asian stocks ended higher today. Key indices from Hong Kong, Japan, Singapore, South Taiwan closed up by about 0.43 per cent and 1.26 per cent. European markets were trading higher in their late morning deals. The CAC was up by 1.50 per cent, the DAX by 0.43 per cent and the FTSE by 1.09 U.S. stock index futures, too, indicated a firm opening on Wall Street today. Keywords: stock market, sensex, BSE
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NEW YORK (CNNMoney.com) -- The bulls are back on Wall Street. After a bearish August, stocks roared into September with a major rally Wednesday, as investors cheered signs of strength in the manufacturing sector. The Dow Jones industrial average (INDU) gained 256 points, or 2.2%.The S&P 500 (SPX) soared 31 points, or 2.9%. The Nasdaq (COMP) composite rallied 63 points, or 3%. Stocks rallied right out of the gate as investors welcomed a rebound in Chinese manufacturing and robust economic growth in Australia. The advance kicked into high gear following an unexpectedly strong report on U.S. manufacturing activity.
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The manufacturing data boosted industrial names and companies in the materials sector. Caterpillar (CAT, Fortune 500), United Technologies (UTX, Fortune 500), Boeing (BA, Fortune 500) all gained between 2% and 4%. Energy producers Exxon (XOM, Fortune 500) and Chevron (CVX, Fortune 500) also rose as oil prices spiked 3%. But the rally was broad-based. Six stocks gained for every one that fell on the New York Stock Exchange. All 30 Dow components closed higher, with Bank of America (BAC, Fortune 500) gaining over 6%. While the improvement in manufacturing allayed some concerns about the U.S. economy, traders said the market remains vulnerable given the uncertain outlook for growth this year
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"This market is looking for something to grab on to," said Mark Luschini, chief investment strategist for Janney Montgomery Scott. "And for the moment it's manufacturing." The focus could shift to jobs Thursday morning when the government's weekly report on initial claims for jobless benefits comes out. Investors will also take in the latest readings on factory orders and pending home sales shortly after the market opens. "The manufacturing number is nice to hang your hat on, but the state of the consumer is still paramount for what's happening in the economy, " said Luschini. The major gauges ended Tuesday's session essentially unchanged, closing out a lackluster August. Stocks typically start September strong, but often end on a weak note due to end-of-the-quarter movements by mutual funds. Economy: The Institute for Supply Management's (ISM) said its index of manufacturing activity rose to 56.3 in August. Economists were expecting the index to edge lower. Any number above 50 indicates growth in the sector. Meanwhile, payroll processing firm ADP reported that employers cut 10,000 jobs in August. Economists were expecting private sector employers to add 13,000 jobs during the month, after adding 37,000 in July. A separate report showed that planned job cuts plummeted to a 10-year low in August, as employers shed 34,768, down 17% from the previous month, according to outplacement firm Challenger, Gray & Christmas. The reports come two days before the government's monthly report on jobs and unemployment. Economists expect the government to report that the economy lost 120,000 jobs in August, after employers cut payrolls by 131,000 in July. The unemployment rate is expected to edge up to 9.6% from 9.5%. Other reports on Wednesday included construction spending, which fell 1% in July, versus a forecasted 0.7% decline.
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Companies: General Motors, Ford Motor (F, Fortune 500) and Toyota (TM) all reported disappointing sales Wednesday, kicking off what is expected to be the worst August for industrywide auto sales in 27 years. The drop in auto sales is partly a result of tough comparisons to the Cash for Clunkers program of last summer. Shares of Burger King Holdings (BKC) jumped 14%, following a report that the fast food chain is considering a possible sale to buyout firms. The Wall Street Journal reported that that private equity firms that have expressed interest in
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Apple's (AAPL, Fortune 500) stock was up 2.8% as the company held its annual music-themed special event. CEO Steve Jobs is expected to unveil its newest iPods and advances in the iTunes music store. Shares of BP (BP) climbed 3.7% as the oil giant said it has agreed to sell its interests in ethylene and polyethylene production in Malaysia to governmentowned Petronas for $363 million in cash. World markets: European shares closed sharply higher. The FTSE 100 in Britain jumped 2.7%, the CAC 40 in France added 3.8% and the DAX in Germany gained 2.7%.
China manufacturing could help avoid 'hard landing'

In Asia, Japan's benchmark Nikkei index gained nearly 1.2%, rebounding after hitting a 16-month low on Tuesday, and the Hang Seng in Hong Kong rose 0.4%. The Shanghai Composite fell 0.6%, despite a report that showed China's manufacturing sector bounced back in August after several months of slowing. Currencies and commodities: The dollar fell against the euro and the British pound, but rose versus the Japanese yen. Currency trading volume around the world has hit $4 trillion a day, a 20% jump compared to 2007, said the Bank of International Settlement. Oil futures for October delivery rose $2.08 to $74.03 a barrel. Gold for December delivery fell $2.20 to $1,248.10 an ounce. Bonds: The yield on the 10-year Treasury note rose to 2.58% from 2.48% late Tuesday.
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the second one is STOP PUNISHING SUCCESS.....don't be a hater is how the kids sa for someone to pay your way!
David Lee Bingenheimer 6:42 pm Nat i have plenty of solutions and they all start with STOP SPENDING MONEY YOU D
David Lee Bingenheimer 6:41 pm Nat, you are a crack-head!
Andrew Shockey 6:19 pm WAIT A MINUTE: YOU MEAN GROWTH IN US MANUFACTURING COULD BE GOOD FO NO WAY!
Renn Calderon 5:14 pm i dont see if the product is made in USA, some products are from El Salvador, oth countries, in the world cup i am Argentina, my second language is inglish, if argent team is Italy, things like that.
Ashwin Jonnalagadda 4:39 pm stocks start at 1:30 through the video
Ashwin Jonnalagadda 4:37 pm video on good stocks to buy in this recession http://www.youtube.com/watch?v=zo
Graham Tatarchuk 4:04 pm Maybe I should go to Vegas. At least there I'd have a better chance of making mon market casino frat house.
Mark Kroehler 3:22 pm @Edward Miner - "I like how it hurts some people so badly to see Obama's econom Yeah, let us know when that actually happens...
First Published: September 1, 2010: 9:42 AM ET
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Struggling schools are recruiting volunteers or boosting their fundraising to make up for state and local funding cuts. More U.S. manufacturing activity grows Corporate cards for consumers?
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Apple CEO Steve Jobs announces $99 Apple TV and a new operating system for the iPhone, iPod Touch and iPad. More Sony revamps e-readers -and hikes prices Why all smartphones are $199
SMALL BUSINESS Car dealers fight for a second chance

Only 29% of auto dealers that were axed as General Motors and Chrysler filed for bankruptcy will get their business back, according to preliminary tallies. More Big sales from tiny shops Made in USA - for now
PERSONAL FINAN Can mom afford to only part-time?

Mary Kate would like t only part-time. But can family afford it and stil thier lifestyle and savi More Are Americans debanking? Quest for the perfe credit score
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SAN FRANCISCO -- Oil futures kicked off the first day of September with their best one-day gain in nearly a month Wednesday, as a round of better global manufacturing data cast the demand picture in a brighter light. Oil for October delivery ended floor settlement on the New York Mercantile Exchange up $1.99, or 2.8%, at $73.91 a barrel. That was the biggest one-day gain since August 2, according to FactSet Research. Heating oil futures added 5 cents, or 2.5%, to $2.041 a gallon after Energy Department data showed a surprise drop in stockpiles. Gasoline futures also gained, but natural gas futures turned lower ahead of Thursday supplies data, falling 5 cents, or 1.4%, to $3.76 per million British thermal units. Copyright 2010 MarketWatch, Inc.
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Sensex gains 338 points to close at 18,5

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Market News Stocks in News Views/Recommendations Stock Quotes Market Calendar Live Commentary You are here: Home Markets Stocks Market News 6 SEP, 2010, 03.38PM IST,ET BUREAU
Sensex gains 346 points to close at 18,567

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Indian warship foils Somali pirate attack: Navy India must take precaution against China: PM Fresh pictures emerge of Pak players with Maje Spot-fixing row: Pak to probe cricketers' assets Security agencies to take over CWG venues tom
MUMBAI: Indian stock market indices ended Mondays session sharply higher, as equities in Europe rose to a four-week high after factory production in UK grew at a record pace in the third quarter. Stealing a march over other sectors were metal stocks, with the BSE Metal Index gaining the most by 3.42 per cent. Oil & gas came next with 2.08 per cent lead, followed by banking at 2.04 per cent. Of the key indices, Nifty ended the day at provisional 5580.25, advancing 100.85 points or 1.84 per cent from the previous close. The 50-share National Stock Exchange index recorded a high of 5589.40 after opening at 5479.55. Bombay Stock Exchanges Sensex closed at 18,567.17, higher by 345.74 points or 1.90 per cent. The 30-share index touched a high of 18,600.30 after opening at 18,124.29.
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1 Street turns to cos of small towns for next m... 2 Sensex scales 31-month high, financials gain 3 NSE to start trading over mobile phones from . 4 Sensex steady; metals set the pace 5 Sensex at 31-month high; metals, energy, real.
Top Sensex gainers were Tata Steel (6.47%), Hindalco Sensex gains 346 points to close at 18,567 (4.61%), Sterlite (4.01%), ICICI Bank (3.60%), Jaiprakash Associates (3.41%), Reliance Industries (3.20%), State Bank of India (3.12%), Maruti Suzuki (3%), Infosys Tech (2.47%), BHEL (2.34%).
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Sensex at 31-month high metals, energy

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Market News Stocks in News Views/Recommendations Stock Quotes Market Calendar Live Commentary You are here: Home Markets Stocks Market News 6 SEP, 2010, 02.15PM IST,IANS
Sensex at 31-month high; metals, energy, realty, IT up

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Indian warship foils Somali pirate attack: Navy India must take precaution against China: PM Fresh pictures emerge of Pak players with Maje Spot-fixing row: Pak to probe cricketers' assets Security agencies to take over CWG venues tom
MUMBAI: A benchmark index for Indian equities built on its early morning gains and was ruling almost 308 points higher than its previous close in afternoon trade Monday. Other Asian markets too rallied, strengthening the buying sentiment at the bourse here. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 18,124.29 points, was at 18,529.78 points, 308.35 points or 1.69 percent up from its previous close at 18,221.43 points. Gainers & losers The Sensex had last seen this level in Jan 2008.
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At the National Stock Exchange (NSE), the broader 50share S&P CNX Nifty was ruling 1.63 percent higher at 5,568.55 points. Broader markets indices were also in the green, with the BSE midcap 1.32 percent up and the BSE smallcap index 1.69 percent higher.
1 Street turns to cos of small towns for next m... 2 Sensex scales 31-month high, financials gain 3 NSE to start trading over mobile phones from . 4 Sensex steady; metals set the pace 5 Sensex at 31-month high; metals, energy, real.
Metals, energy, realty and IT scrips saw healthy buys. All 13 sectoral indices on the BSE were in the positive.
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The Hindu : Business / Markets : Sensex jumps 133 points
Business Markets
Sensex jumps 133 points

PTI
Ignoring rising food inflation, the Bombay Stock Exchange benchmark index, Sensex, on Thursday jumped by 133 poin a 31-month high on persistent foreign institutional investment (FII) inflows, with financial stocks registering most of th Rising for the fourth session in a row, the BSE 30-share index closed with a gain of 132.95 points at 18799.66, its best c January 18, 2008, when it settled at 19013.70. The wide-based 50-share Nifty index of the National Stock Exchange im 0.57 per cent to finish at 5640.05. Markets are doing well on the back of relentless inflow from overseas fund houses, which are bullish on India's growth Unicon Financial CEO Gajendra Nagpal said. On a weekly basis, the Sensex recorded a gain of 3.17 per cent. Despite mixed cues from global peers, Indian markets tr positive bias throughout the week. Stock markets will remain closed on Friday on account of Eid-ul-Fitr festival. Indian stock markets have so far displayed resilience to news flow pertaining to the global economic slowdown and so concerns, brokerage house Reliance Securities said in a note. However, there is a possibility of heightened volatility t creep into domestic markets in these uncertain global times, it added. Barring oil & gas and pharma, all the sectoral in BSE ended in the green, with financial, consumer goods and PSU stocks leading the gains. It was another day when banking heavyweights like SBI, HDFC Bank and ICICI Bank led from the front. SBI zoomed 3 Rs.2,982.50, HDFC Bank 2.67 per cent to Rs.2,240.45 and ICICI Bank 1.48 per cent to Rs.1,050.75. With a jump of 3.16 per cent to Rs.655.40, M&M was the top gainer in the Sensex pack. L&T rose nearly 1 per cent to R and DLF 1.29 per cent to Rs.321.85. Investors are confident that in the coming period, inflation will come down as the monsoon has been good, Mr. Nagp Food inflation increased to 11.47 per cent for the week ended August 28, rising for the second consecutive week, fuellin speculation that the Reserve Bank of India would hike policy rates at its meeting on September 16. Keywords: sensex, share trading
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09-Sep-2010 6:05 PM
13-Sep-2010
Business Markets
Sensex breaches 19,000 mark; closes 408 points up

PTI
The Hindu Sensex regained the crucial 19,000-level in early trade today, adding 287 points on fund-based buying driven by a firming global trend. File photo: Paul Noronha
The BSE benchmark Sensex surged by over 400 points past the psychological 19,000-mark on Monday after a gap of 32 months, banking, refinery and metal stocks as investors bet big on sustained economic growth.
The BSE benchmark Sensex surged by over 400 points past the psychological 19,000-mark on Monday after a gap of 32 months, driven by banking, and metal stocks as investors bet big on sustained economic growth. Amid firm global cues, the 30-share index of the Bombay Stock Exchange, which had gained 133 points in the previous session, spurted by 408.67 po 2.17 per cent to 19,208.33, a level last seen around January 18, 2008. Similarly, the broad-based National Stock Exchange Nifty also breached the 5,700-level by adding 119.95 points, or 2.13 per cent, to 5,760. The investor sentiment was upbeat after industrial output grew at a faster rate than expected, signalling all-round economic expansion. A rise in Asian stock markets, led by Japan, and a higher opening in Europe after central bankers and regulators agreed on new rules to ensure a rep financial crisis that broke out in 2008. A surge in Chinas industrial output boosted optimism that the global recovery is on a sure-footing, propelling domestic equity markets as well. Besides, banking, refinery and realty sectors, capital goods stocks were in demand following reports that factory output increased by 13.8 per cent in a year earlier. The banking sector index gained by 3.62 per cent to 13,454.56 as segment major and state-run State Bank of India rose by Rs. 164.75 to Rs. 3,147.25 private mortage firm HDFC Ltd by Rs. 33.55 to Rs. 664.15 on expectations that growth of the economy would raise demand for loans. The oil and gas sector index was the second-best performer, rising by 2.57 per cent to 10,436.47 as market heavyweight Reliance Industries shot up b 34.25 to Rs. 992.20 following reports that the company has completed the acquisition of a 60 per cent stake in the Marcellus Shale gas asset in the U With the general rising trend, the mid cap sector index gained 0.77 per cent to 8,112.37 and the small cap index rose by 0.22 per cent to 10,271.94. Keywords: Sensex, Nifty, 19, 000-level
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15-Sep-2010
The Hindu : Business / Markets : Market
Business Markets
Markets up for the 7th day in a row; Sensex gains 155 pts
PTI
The Hindu Stock brokers react as they watch the share prices at a brokerage house in Mumbai. The 30-share Sensex of the Bombay Stock Exchange added 155.15 points to clo 19,502.11, a level last seen in January 2008. Photo: Paul Noronha
Rising for the seventh day in succession, the BSE benchmark Sensex on Wednesday closed up by 155 points to touch a fresh 32-month high on sustai inflows. The 30-share Sensex of the Bombay Stock Exchange added 155.15 points to close at 19,502.11, a level last seen in January 2008. The key index had had gained 1,126 points in previous six days. Broader National Stock Exchange index Nifty also rose by 65.40 points to 5,860.95. Reliance Industries, which has the maximum weigh in the Sensex, gained Rs. 22.70 to settle at Rs. 1,010.45, bolstering the market sentiment. IT stocks were flavour of the day as Infosys, the second-most heaviest among the Sensex stocks rose by Rs. 74.20 to end at Rs. 3,050.15 and TCS by R Rs. 913.60. Both touched their record high levels. Banking and financial company stocks, which had been on the fore-front in last few sessions, turned cautious ahead of the Reserve Banks credit poli announced tomorrow. The IT sector index gained the most at 2.49 per cent followed by oil and gas index which was up by 1.85 per cent. Shares of major oil companies, including HPCL and ONGC, advanced to all-time highs, driven by buoyant investor sentiment. Keywords: Sensex, BSE,
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17-Sep-2010
Business Markets
Sensex bounces back by 177 points to fresh 32-month high

PTI
The Hindu Brokers at a brokerage house in Mumbai. File Photo: Paul Noronha
The Bombay Stock Exchange benchmark Sensex today surged by 177 points to touch a fresh 32-month high as investors shrugged off the impact of y rate hike by the RBI amid a firming global trend. With a seven-day rally broken by an 84 point decline in yesterdays choppy session, the Sensex bounced back today by adding 177.26 points to 19,594 last seen in January, 2008. Similarly, the broad-based National Stock Exchange index Nifty rose by 56.25 points to 5,884.95, within sight of the 5,900-mark. Marketmen said that reports of higher advance taxes paid by corporates helped investors overlook the Reserve Bank of Indias hike of borrowing and rates yesterday to tighten the monetary policy, making loans more expensive. A firming trend in the Asian region and a higher opening in Europe further drove the market upward. The most valuable entity on the Sensex, Reliance Industries, rose by Rs. 25.85 to Rs. 1,026.75 on reports that the energy major is in talks with U.S.-b Chesapeake Energy to buy a stake in the Eagle Ford shale gas project. The second most valuable firm by weightage, Infosys Technologies, led the gains in the software export sector by gaining Rs. 6.30 to Rs. 2,974.10. The two stocks together carry nearly 23 per cent weightage on the market. The consumer durable sector index gained the most by rising 2.10 per cent to 6,154.17 as stocks of Titan, Whirlpool and Vip industries recorded han gains. The healthcare sector index was the secondbest performer by rising 2.05 per cent to 5,842.24 as Elder Pharmaceuticals shot up by Rs. 20.95 to Rs following U.K.-based NeutraHealths approval of a takeover offer by the Indian drug-maker. With buying activity spread over a wide front, the mid-cap sector index rose by 1.43 per cent to 8,104.28 and the small-cap index by 0.93 per cent to Keywords: BSE, NSE, Sensex, Nifty, firm Asian markets
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18-Sep-2010
Business Markets
Sensex surges 795 points on strong economic outlook

IANS
PTI A view of the Bombay Stock Exchange building in Mumbai. The countrys benchmark index has gained 1,373 points in the last two weeks of trading.
A benchmark index for Indian equities surged almost 800 points in this weeks trading, the sharpest rally in over a year, as foreign institutions invest on the back of strong macro-economic outlook. The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE) rallied 795.09 points or 4.23 per cent in the weekly trade. The index close positive four out of the five trading sessions. Strong inflow of funds from the foreign institutional investors has led the rally at the Indian bourses for the second successive week. The countrys be index has gained 1,373 points in the last two weeks of trading. Finance Minister Pranab Mukherjee said on Thursday the Indian economy would grow by 8.5 per cent during the current fiscal and 9 per cent in 20 grew by 8.8 per cent in the first quarter of fiscal 2010-11. Sensex advanced 177.26 points or 0.91 per cent to 19,594.75 on Friday, the highest closing level in 34 months. On the last trading day of the week, of the 30 stocks trading in the Sensex, 24 advanced while six closed in the red. Reliance Communications went 5.28 per cent up at Rs.166.45; ACC 3.24 per cent higher at Rs.997.55; Bharti Airtel up 2.93 per cent at Rs.357.90; R per cent at Rs.1,026.75; and Sterlite Inds up 2.09 per cent at Rs.173.25. These were among the major gainers in percentage terms at the Sensex. At the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty closed 0.97 per cent or 56.25 points higher at 5,884.95 points Friday. Most Asian markets advanced on the last trading day of the week, with Japans Nikkei rising 1.23 per cent at 9,626. Hong Kongs Hang Seng closed 1 cent higher at 21,971. The bourses in the US also ended the week on a positive note. Dow Jones industrial index closed 0.12 per cent higher at 10,608. S&P 500 advanced 0 cent at 1,125.59 and Nasdaq closed 0.54 per cent higher at 2,315.61. However, the European bourses closed in the red. The FTSE 100 fell 0.57 per cent to close at 5,508.45 points. The German DAX closed 0.64 per cent down at 6,209 points and the French CAC 40 declined 0.38 per cent to 3,722.02 points. Keywords: sensex weekly review BSE
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20-Sep-2010
Business Markets
Sensex up 311 points on FIIs buying

PTI
The Bombay Stock Exchange benchmark Sensex today moved closer to the psychological 20,000 points level by adding 311 points on sustained capit The 30-share barometer closed 311.35 points higher at 19,906.10 points, the highest close since January 2008. The index had risen 4.2 per cent in th week. Similarly, the broad-based National Stock Exchange index Nifty spurted by 95.50 points to 5,980.45 points as the index in futures and option segme 6,000 points level, suggesting more strength in the market. The upsurge was backed by reports that the gross domestic product expanded at a faster pace by 8.8 per cent last quarter from a year earlier among economies, brokers said. The foreign funds pumped in a net Rs. 1,140 crore by purchasing Indian stocks on September 16, taking total investments in equities this year to Rs. crore. A better trend in the Asian region and higher opening in Europe this afternoon further boosted the trading sentiment. The energy giant and the heaviest on the index, Reliance Industries, shot up by Rs. 12.95 to Rs. 1,039.70, while second heaviest Infosys Technologies 31.80 to Rs. 3,005.90. The two stocks carry nearly 23 per cent weightage on the Sensex. Private lender ICICI Bank rose by Rs. 12.80 to Rs. 1,128.40 and state-run major State Bank of India by Rs. 13.55 to Rs. 3,107.55. Among the 30-BSE index components, 25 stocks closed with gains while five ended in the negative zone. Major supporter to the market were shares in fast moving consumer goods, realty, capital goods, metal and refinery sectors. As the buying activity spilled over a wide-front, small-cap stock index rose by 0.79 per cent to 10,319.56 and mid-cap index by 0.60 per cent to 0.60 p 8,153.14. Keywords: sensex, BSE, share trading
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20-Sep-2010
FOXBusiness.com - Bulls Run Wild: S&P

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Bulls Run Wild: S&P Sets Four-Month High

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The S&P 500 barreled through key resistance levels and soared to its highest level in four months on Monday as the bulls continue to dominate what has been one of Wall Streets best Septembers on record. Todays Markets The Dow Jones Industrial Average rose 145.77 points, or 1.37%, to 10753.62, the Standard & Poor's 500 gained 17.12 points, or 1.52%, to 1142.71 and the Nasdaq Composite advanced 40.22 points, or 1.74%, to 2355.83. The consumer-friendly FOX 50 added 12.09 points, or 1.49%, to 822.58.
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While driven by energy and consumer discretionary stocks, the latest burst of buying on Wall Street didnt appear to be triggered by any new groundbreaking developments. Instead, the bulls cheered on the S&P 500 breaking out above the closely-watched 1131 level, stronger-than-expected earnings from home builder Lennar (LEN: 15.16 ,+1.18 ,+8.44%) and Discover Financial (DFS: 16.16 ,+0.60 ,+3.86%) and a new report declaring the recession officially ended in June 2009. Still, some market watchers were surprised by the strength of Monday's rally, especially because it comes in the wake of a surprisingly strong month of September on Wall Street. Up 8.9% this month, the broad S&P 500 is on track for its best September
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Nearly every single stock that makes up the benchmark index closed in positive territory, led by financial giants JPMorgan Chase (JPM: 41.09 ,+1.02 ,+2.55%), Bank of America (BAC: 13.72 ,+0.32 ,+2.39%) and American Express (AXP: 43.09 ,+1.71 ,+4.13%). The index's worst performers were Intel (INTC: 18.94 ,+0.09 ,+0.48%) and Cisco Sytems (CSCO: 21.75 ,-0.15 ,0.68%). The buying on Wall Street gained momentum Monday morning as the S&P 500 climbed solidly above the 1131 level, which had been a key area of resistance for months and was closely watched by technicians. It looks now like were going to be on a race for 1150, which is the next bout of resistance, said Paul Nolte, managing director at Dearborn Partners. However, some market watchers were preaching caution, saying the markets are due for at least a short-term pullback from their recent surge. "We have a trend that has definitely been very, very positive and broad-based. The trend is higher, said Peter Kenny, managing director at Knight Capital Group.If youre not selling into this rally, youve leaving yourself exposed to a sudden downdraft. Any rally that has lasted three weeks over the past year has been subject to very sudden shifts. Wall Street's economic concerns may have been eased a bit by the National Bureau of Economic Research, which Monday morning declared the official end of the Great Recession. NBER said the 18-month recession ended in June 2009, marking the longest postwar downturn in U.S. history. Two of the strongest-performing sectors Monday were consumer discretionary and energy stocks, each of which benefited from the more upbeat mood on the economy. Leading the way higher in the consumer discretionary sector was Office Depot (OD), which surged 10% in the wake of a positive analyst note from Janney Montgomery Scott. Energy stocks like Hess (HES: 56.63 ,+1.67 ,+3.04%) rallied as crude oil jumped $1.20 a barrel, or 1.63%, to $74.86. Gold gained $3.40 a troy ounce, or 0.27%, to $1,279.00 -- another new record settle. On the earnings front, Lennar saw its stock soar 8% after saying it swung to a stronger-thanexpected fiscal third-quarter profit of 16 cents a share amid a 10% rise in deliveries. Discover Financial rallied after beating the Street with EPS of 37 cents. Analysts had been projecting EPS of just 38 cents. Wall Street has also begun to set its sights on the Federal Reserve, which is set to begin a twoday policy meeting on Tuesday. The central bank isnt likely to raise interest rates amid the sluggish economy, but it could update its economic forecast and announce new measures aimed at aiding the recovery. Mondays lone economic report produced little reaction in the markets. The National Association of Realtors said its home-builder sentiment index unexpectedly stayed in September at an 18-month low of 13. Corporate Movers BP (BP: 38.66 ,+0.63 ,+1.66%) announced it permanently killed the oil well in the Gulf of Mexico that caused the worst spill in U.S. history. The U.K. oil major said its costs related to the spill should start to decline
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20-Sep-2010
report of prices increasing by $40 a ton in August.
Verizon Communications (VZ: 32.09 ,+0.41 ,+1.29%) appointed James McAdam as the telecom giants new president and chief operating officer, paving the way for him to succeed CEO Ivan Seidenberg, who turns 64 later this year and is expected to step down in 2011. McAdam, currently the president and CEO of Verizon Wireless, will take his new position on October 1. Global Markets European markets snapped a three-day slump as the U.K.'s FTSE 100 climbed 1.71% to 5602.54, France's CAC 40 rallied 1.77% to 3788.01 and Germany's DAX rose 1.37% to 6294.58. In Asia, Tokyo's Nikkei 225 jumped 1.23% to 9626.09, Hong Kong's Hang Seng inched up 0.03% to 21977.30 and China's Shanghai Composite lost 0.38% to 2588.71.
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Business Markets
Sensex hits 20000-mark

PTI
Strong inflows from overseas fund houses propels rally

Upbeat foreign investors on Tuesday pushed the Bombay Stock Exchange benchmark index, Sensex, above the 20000-mark for the first time in 32 m they bet on companies that are driving the India growth story. The barometer closed 95.45 points up at 20001.55, its best closing since January 15, 2008, when the index ended at 20251.09. Similarly, the 50-share National Stock Exchange benchmark index Nifty breached the psychological 6000-mark and ended at 6009.05, up 28.60 po Some brokers, however, feel that a short-term correction may be round the corner, but would nonetheless provide good investment opportunities. Happy with the market milestone, Finance Minister Pranab Mukherjee told reporters in New Delhi that We all know that the Sensex is always a litt unpredictable. (But) I am happy that for the first time after January 2008, it has crossed 20000. Analysts said the rally in Indian market was propelled by strong inflows from overseas fund houses, which have made a net investment of over Rs.71, in domestic stocks so far this year. Sensex gushing past the 20000-mark stands testimony to the attractiveness of India as a preferred investment destination, Angel Broking CMD Di Thakkar said. Tuesday's close marked the third straight session of gains. Significantly, the Sensex has completed its journey from 17971 on August 31 to 20000 in ju trading days. The gain was fuelled by a smart gain in blue chips like L&T, HDFC, HDFC Bank, TCS, Infosys and BHEL. Infosys improved by 0.9 per cent to Rs.3,058.50, TCS by 2.5 per cent to Rs.952.75 and Wipro by 2.7 per cent to Rs.435.10. L&T rose by 2 per cent to Rs.2,034.75, Cipla by 1.92 per cent to Rs.320.75 and BHEL by 1.73 per cent to Rs.2,478.95. Reliance Industries acted as a drag, closing 0.60 per cent lower at Rs.1,033.50. Asian stocks rose after U.S. homebuilder Lennar Corp posted better-than-estimated profit, boosting optimism in the economic recovery worldwide. Rupee edges up The rupee on Tuesday gained three paise to close at a four-month high against the U.S. currency amid sustained capital inflows, completing five-ses gaining string. In fairly active trading at the interbank foreign exchange market, the rupee closed three paise higher at 45.67/68, the level not seen since May 18, 20 had closed at 45.59/60. It ended at 45.70/71 on Monday. Keywords: BSE, sensex, NSE, Nifty, opening trade, share trading
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Sensex may surpass 21K mark by October: Analysts
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Diwali Bonanza! Sensex may surpass 21K mark by October: Analysts

Story Comments Topics sensex | nifty | gdp | fii | diwali MUMBAI: Sensex may surpass the much-awaited 21,000-mark before the festival of Diwali, driven by the strong FII interest, analysts said. Stock market benchmark Sensex, which had touched the 21,000-milestone on January 8, 2008, today breached the psychological high-level of 20,000 in the early trade.
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The Economic Time Gainers & losers This was the first time the Bombay Stock Exchange (BSE) index climbed the 20,000- level since January 15, 2008, when it had closed at 20,251 points. "Sensex may surpass 21,000 level before Diwali with the increasing FII interest. A lot of retail and institutional investors are waiting on the sidelines to park their money in the market, which means a lot of liquidity is yet to come in the market," Geojit BNP Paribas Research Head Alex Mathews said. Echoing a similar opinion, Kotak Mahindra Old Mutual Life Insurance Chief Investment Officer Sudhakar Shanbhag said,"The rate at which our market is Like 74,233
RELATED ARTICLES Cautious on markets at current levels: Jim Rogers Sensex at 20K, but many unsung heroes account for buoyancy Nifty closes above 6,000 on FII flows Not a good time to chase the market: Rashesh Shah, Edelweiss Capital India will be among the top 5 economies: Motilal Oswal RELATED VIDEOS
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Business Markets
Sensex surges by 184 points to fresh high on upbeat FII support

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The Hindu A scene outside the Bombay Stock Exchange. File photo: Paul Noronha
The BSE benchmark Sensex surged by 184 points to regain the magical 20,000 points level today as foreign funds continued to pump capital into do equities, bolstered by the governments move to relax certain foreign investment limits. The Sensex shot up by 184.17 points to 20,045.18, its highest level since January, 2008, led by the realty and FMCG sectors. The government has raised the FII cap in bonds floated by companies engaged in the infrastructure business, which will provide much-needed fund crucial sector. The Indian economy expanded by 8.8 per cent in the first quarter of the current fiscal compared to the corresponding period a year ago, the most am economies after China and Brazil. In a similar fashion, the broad-based National Stock Exchange index Nifty rose by 58.75 points to 6,018.30. During the session, it touched an intra-d 6,029.10. The realty sector index gained the most, rising by 2.78 per cent to 3,695.99 as DLF Ltd, the biggest real estate developer, advanced by Rs. 18 to Rs. 3 The fast moving consumer goods sector was the second-best performer, adding 1.79 per cent to 3,752.17 as Hindustan Unilever, the local unit of the second-largest consumer goods maker, climbed for the seventh day by Rs. 11.90 to Rs. 314.65. The trading sentiment remained intact despite a mixed trend in the Asian region and a lower opening in Europe. Reliance Industries, the most valuable scrip on the Sensex, rose by Rs. 3.95 to Rs. 1,001.65, while the firm with the second-most weightage, Infosys Technologies, jumped by Rs. 26.40 to Rs. 3,040.65. The two carry nearly 23 per cent weightage on the index. With buying activity spilled over a wide-front, the small-cap sector index rose by 1.05 per cent to 10,267.33 and the mid-cap index by 1.04 per cent to Keywords: stock market, sensex, BSE
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September Surge Resumes: Dow Soars 198

By Matt Egan
Published September 24, 2010 | FOXBusiness Print Email Share Comments (6) Recommend Text Size
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The Dow Jones Industrial Average rose 197.84 points, or 1.86%, to 10860.26, the Standard & Poor's 500 gained 23.84 points, or 2.12%, to 1148.67 and the Nasdaq Composite picked up 54.14 points, or 2.33%, to 2381.22. The FOX 50 added 14.50 points, or 1.78%, to 828.21. Fridays buying binge landed Wall Street in the green for the fourth consecutive week and at its highest level since May 12. The triple-digit rally was inspired by the latest economic report supporting the bulls' case that fears of a double-dip recession were overblown this summer. The new report on August durable goods showed demand for non-transportation products like computers was twice as strong as Wall Street had anticipated, fueling big gains for consumer discretionary and industrial companies like Sony (SNE: 30.99 ,0.00 ,0.00%) and Whirlpool (WHR: 79.19 ,0.00 ,0.00%).
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investors, financial institutions and manufacturers worldwide. Triumph GE Capital partners with Triumph to help them create unified financing solution to expand sales of their iconic motorcycles from 3 countries to 35.
The news wasn't all positive, however, as the government said new home sales remained at depressed levels in August. Still, the rally allowed Wall Street to quickly recoup Thursdays selloff, its worst day in two weeks, and put the Dow up 8.44% this month -- on pace for its strongest September since 1939. The Dow, which is in the midst of its longest winning streak since the eight-week run ended in late April, saw all 30 of its members close higher, led by Caterpillar (CAT: 79.78 ,0.00 ,0.00%), Alcoa (AA: 12.15 ,0.00 ,0.00%) and Bank of America (BAC: 13.60 ,0.00 ,0.00%). The index's biggest laggards were defensive plays AT&T (T: 28.58 ,0.00 ,0.00%) and Johnson & Johnson (JNJ: 62.17 ,0.00 ,0.00%). The Nasdaq Composite has soared 12.64% so far this month, putting it on pace for its best September since 1998. The index was led higher on Friday by tech stocks like Amazon.com (AMZN: 160.79 ,0.00 ,0.00%) and Nvidia (NVDA: 12.27 ,0.00 ,0.00%). There is still a great deal of skepticism on Wall Street about this month's surge, especially given continued economic headaches in the form of stubbornly high unemployment and the weak housing market. I dont believe the fundamentals are there for a sustained rally at this point," said Frank Davis, director of sales and trading at LEK Securities. The bulls bid stocks sharply higher on Friday after the Commerce Department said U.S. durable goods orders soared by 2% in August, doubling forecasts from economists and demonstrating solid demand. It was also the largest increase since March 2010. The headline figure was less impressive, slumping by 1.3%, compared with forecasts for a drop of 1%, but the report was enough to send stocks like Siemens (SI: 106.88 ,0.00 ,0.00%) climbing. Some market watchers chalked up part of this months bullishness to further signs that Republicans, who are seen as pro-business, are set to make serious gains in the midterm elections. If the GOP is able to take the House of Representatives or even the Senate, Wall Street is betting political gridlock will ensure, removing a cloud of uncertainty hanging over the markets. For further evidence of the changing political winds, traders pointed to Democrats on Thursday deciding to punt a decision on extending the Bush tax cuts until after the election. This month's rally "is clearly an excellent showing. I dont think its primarily due to the economic data, NYSE trader Doreen Mogavero told FOX Business. This is more of a political statement. We see policy is starting to shift a little more to the center and be much more business-friendly. Wall Street managed to shrug off a separate Commerce Department report revealing new home sales were unchanged in August at a rate of 288,000 units -- matching the second-lowest reading on record. However, the government upwardly revised July's sales rate from 276,000 units to 288,000 units. A rally among home builders gained momentum in the wake of the data, with stocks like Pulte Group (PHM: 8.41 ,0.00 ,0.00%) and Lennar (LEN: 15.23 ,0.00 ,0.00%) jumping about 3% a piece. The group was also lifted by KB Home (KBH: 12.07 ,0.00 ,0.00%), which slashed its fiscal second-quarter loss to 2 cents a share, solidly beating the Streets view for a loss of 15 cents a share. Commodity-related stocks were driven higher by the upbeat mood on Wall Street and the euro, which soared 1.33% to $1.3488. Economically-sensitive copper rallied 0.79% a pound to $3.614. Crude oil rose $1.31 a barrel, or 1.74%, to $76.49. Gold continued to break records, settling at an all-time high for the seventh day of the last nine. Gold gained $1.70 a troy ounce, or 0.13%, to $1,296.00. Corporate Movers General Electric's (GE: 16.67 ,0.00 ,0.00%) NBC Universal announced the resignation of CEO Jeff Zucker, who said he will leave once Comcast (CMCSA: 18.55 ,0.00 ,0.00%) completes its deal
GE Capital works extensively with Taylor Guitars to h provide Inventory and sales financing, helping them realize their full brand experience. Polaris GE Capital teamed up with Polaris industries to streaml their distribution strategy. W GEs valuable insights on their dealer network, Polar manages inventory in a way that mitigates risk and promotes healthy growth.
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HSBC (HBC: 52.60 ,0.00 ,0.00%) named Stuart Gulliver CEO after a power struggle at Europe's largest bank forced the ouster of Michael Geoghegan. Douglas Flint, the bank's finance director, will take over as chairman. The conflict blew up as the bank searched for a replacement for its chairman, Stephen Green. Citigroup (C: 3.90 ,0.00 ,0.00%) announced plans to boost CEO Vikram Pandit's salary from the $1 he has earned the past two years. Citi, which is still partially owned by the U.S., said it plans to award top execs incentive pay for the first nine months of 2010. Nike's (NKE: 79.51 ,0.00 ,0.00%) stock rallied 2% to 52-week highs a day after the company beat the Street with EPS of $1.14. Analysts had projected a profit of just $1.01 a share. Sales jumped 8% to $5.18 billion, missing forecasts for a rise to $5.22 billion. Advanced Micro Devices (AMD: 6.84 ,0.00 ,0.00%) saw its shares soar almost 7% even after the chip maker warned of a sequential drop in revenue due to weaker notebook demand. AMD said it sees third quarter revenue falling 1% to 4% from the prior quarter. Global Markets The U.K.'s FTSE 100 rose 0.93% to 5598.48, France's CAC 40 soared 1.94% to 3782.48 and Germany's DAX jumped 1.84% to 6298.30. In Asia, Tokyo's Nikkei 225 sank 0.99% to 9471.67, Hong Kong's Hang Seng gained 0.33% to 22119.40 and China's Shanghai Composite added 0.11% to 2591.55.
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Business Markets
Sensex climbs for second day to fresh 32-month high

PTI
PTI A graphic presentation of the Sensex figures last week. On Saturday, the sensex closed at 20,045.18 points. (at right top).
The Bombay Stock Exchange benchmark Sensex on Monday gained over 72 points to close at a new 32-month high on sustained buying by funds, pa in metal stocks. Powered by foreign fund inflows, the index closed 72.20 points higher at 20,117.38, a level last seen in January 2008. The stocks in metal sector led the rally following a firm trend in the London Metal Exchange where basemetal prices spurted. Strong markets across Asia also bolstered the sentiment here. Asian bourses rose after reports of increase in corporate spending and a big jump in or manufactured goods in the United States, worlds largest economy. The broad-based National Stock Exchange index Nifty rose by 17.35 points to settle at 6,035.65. Tata Steel gained for the fourth and ended Rs 16.15 up at Rs 645.65 on expectations that the demand for the steel might rise. Hindalco Industries, the biggest aluminum producer, climbed to its highest in 32 months by gaining Rs 6.35 at Rs 197.25. Sterlite Industries, the lea copper and zinc producer, closed higher by Rs 5.45 to Rs 177.80. Trend-setter Reliance Industries rose by Rs 7.90 to Rs 1,009.55 on reports that the company plans to invest on expanding its refining complex. The metal sector index gained the most at 2.15 per cent, followed by consumer durables at 1.64. Realty sector index rose 1.23 per cent and oil and ga 0.85 per cent. As the buying activity spilled over a wide-front, midcap index rose by 0.33 per cent to 8,142.26 and smallcap index by 0.13 per cent to 10,280.57. Keywords: Sensex close, share trading
1/1
30-Sep-2010
Business Markets
Sensex up 113 points, regains 20,000 level

PTI
PTI Market analysts attributed the last-minute buying to investors covering their long positions on the last day of monthly expiry in the derivatives segment.
Fag-end buying helped the Bombay Stock Exchange benchmark index Sensex today rise by 113 points to regain the 20,000-level. The 30-share Sensex, which had dipped below the 32-month high level of 20,000 in the previous session, ended with a gain of 112.78 points at 20,06 The broad-based National Stock Exchange benchmark index Nifty also regained the crucial 6,000 points level by adding 38.65 points to 6,029.95. Market analysts attributed the last-minute buying to investors covering their long positions on the last day of monthly expiry in the derivatives segme They further said that buying in the last 30 minutes reduced the impact of a weakening global trend, rising inflation and a crucial judgement on long disputed Ayodhya case. The benchmark has gained by nearly 10.7 per cent in September, boosted by heavy foreign fund investment. Software exporter Infosys Technologies maintained its upward march by adding Rs. 11.80 at close at Rs. 3,041. The FMCG index gained the most at 1.40 per cent to end at 3,719.54. The metal sector index was second best performer 0.82 per cent. In the 30-share BSE index, 19 shares closed with gains while eleven, including Reliance Industries ended in red. Keywords: BSE, opening trade
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30-Sep-2010
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NEW YORK (CNNMoney.com) -- U.S. stocks fizzled Thursday, but that didn't stop the market from logging its best September in decades.
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Dow Jones industrial average (INDU) slipped 47 points, or 0.4%, after soaring more than 100 points at the start of trading. The S&P 500 (SPX) fell 4 points, or 0.3%, and the Nasdaq (COMP) ticked down 8 points, or 0.3%. Economic jitters have kept stocks from breaking out of a narrow range this week. And while upbeat readings on employment and economic growth helped spark an early rally Thursday, gains subsided as worries about the euro zone bubbled up.
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Despite the stomach churning month, stocks ended September on a high note. The Dow jumped 7.7%, the biggest September gain in 71 years. The S&P also posted the biggest gain since 1939, rising 8.7% in the month, while the Nasdaq climbed 12%.
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All 30 Dow components were on track to end September with gains, as of Wednesday's market close. Caterpillar (CAT, Fortune 500), Alcoa (A, Fortune 500), GE (GE, Fortune 500), Home Depot (HD, Fortune 500) and 3M (MMM, Fortune 500) are among the biggest gainers. And only 18 of the S&P 500 were down on the month. Carmax (KMX, Fortune 500), JC Penney (JCP, Fortune 500) and Office Depot (ODP, Fortune 500) are among the biggest gainers on the broader index. "There was a lot of talk this summer about a double-dip recession, and while it's true things have slowed down, the technicals have really changed and it's a much more healthy environment now," said Kenny Landgraf, principal at Kenjol Capital Markets. Economy: The number of Americans filing for unemployment insurance edged down to 453,000 in the week ended Sept. 25, according to the Labor Department. The figure was slightly better than the 457,000 jobless claims economists had expected. "The big bash against this recovery has been that it's a jobless recovery ... so investors are obviously going to take that [report] well," said Landgraf. Meanwhile, the Commerce Department released its final reading on secondquarter gross domestic product, raising it slightly to a gain of 1.7% from the previously reported 1.6%. Economists surveyed by Briefing.com had expected the figure to remain unchanged. World markets: Despite the wave of upbeat readings on the U.S. economy, bad news from overseas reignited fears about a slowing global recovery. Ireland's central bank unveiled a bank bailout that could reach about $46 billion. Ireland's budget deficit is on track to hit 10 times the European Union guidelines for eurozone members. Meanwhile, Moody's downgraded Spain's credit rating. "These are just further signs that we've covered up the European financial situation and tried to push it aside, but it's really still a big issue," said Dean Barber, president of Barber Financial group. European stocks slumped. France's CAC 40 fell 0.6%, Britain's FTSE 100 dipped 0.4% and Germany's DAX lost 0.3%. Asian markets shares ended mixed. The strong yen continues to plague Japanese stocks, with the Nikkei ending down 2%. The Hang Seng in Hong Kong lost 0.1%, while the Shanghai Composite rose 1.7%. Companies: AIG (AIG, Fortune 500) took a major step toward paying back its government bailout Thursday, after announcing an agreement to pay down its debt to U.S. taxpayers. Part of this includes the insurer's plan to sell its Japanbased units for $4.8 billion. Shares of AIG gained more than 4%. Shares of Johnson & Johnson (JNJ, Fortune 500) slipped less than a percent after CEO William Weldon took responsibility for the company's recall issues and admitted to hiding a Motrin recall effort. Overall, Johnson & Johnson's stock has emerged unscathed from the recall issue as investors have largely shrugged off the issue since there were no reports of people getting sick.
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On Wednesday, Congress overwhelmingly passed legislation to impose tariffs on China for undervaluing its currency, the yuan, in order to keep export prices cheap.
Gold futures for December delivery slipped 70 cents to settle at $1,309.60 an ounce, after hitting another intra-day trading record of $1,316.20 an ounce earlier in the session. Crude oil futures for November delivery gained $2.11 to settle at $79.97 a barrel. Bonds: The price on the benchmark 10-year bond fell, pushing up the yield up to 2.52% from 2.5% late Wednesday.
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Jasper Elberink 6:42 pm Seriously people, see the recession for what it was... it wasn't democrats who mes this was in the making for friggin 20 years. It was a credit economy... people were money and banks, companies in general got greedy and told everyone it was ok to having no debt was unamerican. Now the Dems are fixing the mess. Quit your whin going slow doesn't mean they're not doing a good job.
LRon Hoover 6:36 pm The Democratic Congress from 2006-2008 had about as much to do with the financ FDNY had with the collapse of the World Trade Center. You could already smell a lo don't like to blame it all on the GOP, either, though. There's no doubt that their lust it easier for the Wall Street banksters to destroy the economy (while becoming rich ultimate blame for the detonation of our economy needs to be placed on the bankst foolish Republicans who gave them the keys to the dynamite store. I'm not sure tha ever get over their childish idealism about "free markets". In the case of the meltdo for Wall Street, free markets for the rest of us." They successfully privatized the pr risk.
John Bowen 6:26 pm The Democrats have controlled Congress (which controls the purse) since '07. Are were in '06? Vote anybody BUT Democrat.
Marvin Pineda 6:16 pm Everyone bail out to the european markets when our economy crash. The european greece there was a global recession happening already. Yes is all obama fault he c bunch of winers and tea party bums. Remember the war the russians had that ban afghanistan guess what what happen to us with iraq. Realize this puppets there wil republican control "ELECT DEMOCRATS"
Scott Shipp 6:16 pm How come the stock market having it's best September in 71 years get's lost in all t about the economy?
Robert Brunner 6:04 pm make that 14,000 and 11,000 ... thanks for changing my numbers CNN...
Jason Glugla 6:02 pm I am so happy, now those big dividend checks can be sent out as reward for shippin India.
Robert Brunner 6:00 pm well under Bush back in 08 the dow was over 1,400..... and the dollar index ( value at 136. under obama the dow is still under 1,100 and the dollar index is under 80!!! numbers together and you have the dow at about 4,200 ( real value ). bottom line p US dollars and into silver and gold. silver hit 22.00 and gold past 1,300 an oz. why real story ? oh wait that's right the gov controls this news network.
Jerry Schwindler 5:55 pm I can not wait for this election to be ove rwith so the sheepeople can go back to mo life like American Idol
Mike Bradley 5:42 pm The market is rising because traders realize that the anti-business Liberals will be v Very similar to the crash in the back half of 08' when traders and investors came to president was going to be.
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Bulls Retake Control, Push Dow to August 08 Levels

By Matt Egan
Published January 12, 2011 | FOXBusiness Recommend 5 Print Email Share Comments (0) Text Size
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Wall Street climbed to another two-year high on Wednesday as buyers stepped in amid enthusiasm for easing fears about Europes debt mess and high hopes for big banks like JPMorgan. Today's Markets
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12-Jan-2011
The Dow Jones Industrial Average rose 83.56 points, or 0.72%, to 11755.44, the Standard & Poor's 500 gained 11.48 points, or 0.90%, to 1285.96 and the Nasdaq Composite jumped 20.50, or 0.75%, to 2737.33. The FOX 50 added 7.95 points, or 0.87%, to 919.86. Global markets kicked off the bullishness early in the day as traders breathed a sigh of relief after Portugal successfully auctioned off nearly $2 billion of bonds and the buying gathered momentum in the wake of a favorable analyst note upgrading the U.S. banking sector. Thanks to the rally, the Dow landed at levels unseen since August 2008.
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Money is being redeployed into equities and out of bonds due to growing confidence that we have the ability to crawl our way out of recession, said Peter Kenny, managing director at Knight Capital Group. You have what sounds like a recovery -- dare I say that. Thats what the market is pricing in. Despite the snowstorm hitting the northeast, the New York Stock Exchange opened on time without any problems. However, the inclement weather did appear to weigh a bit on trading volumes. Underscoring the enthusiasm for bank stocks, the Dow was led higher by financial giants JPMorgan Chase (JPM: 44.72, 0.00, 0.00%) and Bank of America (BAC: 15.04, N/A, N/A%). The weakest blue-chip stocks were Alcoa (AA: 16.25, N/A, N/A%) and Walt Disney (DIS: 39.18, 0.00, 0.00%). The Nasdaq Composite, which has outperformed the broader markets, saw more modest gains. The index was kept afloat by rallies from tech stocks like Nvidia (NVDA: 23.34, 0.00, 0.00%) and Symantec (SYMC: 17.62, 0.00, 0.00%). The triple-digit rally comes after soaring crude oil nudged Wall Street modestly higher on Tuesday, ending the Dow's three-day slump.
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We get the feeling nobody is out there really buying it steadily, Robert Heller, a NYSE trader at MEB Options, told FOX Business. However, it seems to want to keep going. If we get over another psychological level like 12000 [on the Dow], we could see money pouring in and then who knows what will happen. Wednesday's optimism was fueled initially by debt-ridden Portugal, which despite being at the epicenter of the debt crisis, managed to sell the maximum allotted $1.62 billion of debt in a highlyanticipated bond auction. The successful sale comes amid continued reports of pressure from fellow European Union members on Portuguese officials to accept what analysts see as an inevitable bailout. Buoyed by the debt sale, the cost to insure the debt of European financial companies eased and the euro recaptured the $1.31 level, surging 1.25% to $1.3129. European banks such as Barclays (BCS: 19.08, 0.00, 0.00%) and HSBC (HBC: 56.27, 0.00, 0.00%) also rallied around the easing tensions there. The attention will now shift to key auctions of Spanish and Italian debt later this week.
foxbusiness.com//stocks-poised-start-
2/5
12-Jan-2011 FoxBusiness.com - Bulls Retake Control, In the U.S., the Treasury Department had no problem on Wednesday auctioning off $21 billion of 10-year notes at a solid bid-to-cover ratio.
The rally also received a jolt from the financial sector, which leaped 1.7% thanks to an upgrade of the U.S. banking sector to overweight by Wells Fargo. The brokerage cited tumbling credit costs and positive loan growth and projected the industrys earnings will soar 59% and dividend payout ratios will double to 25% to 30%. Wells Fargo tapped BofA, PNC (PNC: 62.22, 0.00, 0.00%), Comerica (CMA: 42.00, 0.00, 0.00%), Goldman Sachs (GS: 171.90, 0.00, 0.00%) and JPMorgan as its top ideas for 2011. In the commodities complex, crude oil built on its best day since December 1. Crude gained 75 cents a barrel, or 0.82%, to $91.86 -- its highest settle since October 2008. Gold advanced $1.70 a troy ounce, or 0.12%, to $1,385.70. On the economic front, U.S. markets barely moved after the government said import prices rose 1.1% in December, easing back from November's 1.5% jump but still marking the largest threemonth gain in more than a year. Export prices ticked up 0.7%. Wall Street also had little reaction to the Federal Reserve's Beige Book, which showed that while housing still remained depressed at the end of the year, labor markets appeared to be "firming." The anecdotal economic snapshot from the central bank's regional branches indicated "economic activity continued to expand moderately." Corporate Movers American International Group (AIG: 58.40, N/A, N/A%) inked a $2.16 billion all-cash deal to sell its Taiwan Nan Shan Life business to a group led by conglomerate Ruentex, potentially ending a 15-month process to unload the unit. The bailed-out insurance giant plans to use the proceeds to pay down its debt to U.S. taxpayers. A $2.15 billion bid last year to sell the business was blocked by a regulator. ITT (ITT: 61.50, 0.00, 0.00%) soared 16% to two-year highs after unveiling plans to break itself into three publicly traded companies that focus on water, defense and engineering. Under the plan, ITT shareholders would own shares in all three corporations. ITT said it expects to finalize and execute the split before the end of the year. Zale (ZLC: 5.76, N/A, N/A%) surged 43% to 15-month highs after revealing an 8.5% leap in holiday season sales, bouncing back from a 12% dive a year ago. Holiday sales account for nearly a third of Zales annual sales. Advanced Micro Devices (AMD: 8.38, N/A, N/A%) board of directors fretted about Dirk Meyers strategy for getting AMDs chips into new gadgets like tablets before kicking the CEO out of the CSuite this week, The Wall Street Journal reported. The board replaced the well-respected Meyer with Thomas Seifert, its chief financial officer, until it can find a permanent replacement. The move helped fuel a 9% plunge in AMDs stock on Tuesday. Global Markets The U.K.'s FTSE 100 gained 0.61% to 6050.72, Germany's DAX rallied 1.83% to 7068.78 and France's CAC 40 jumped 2.15% to 3945.07.
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12-Jan-2011 FoxBusiness.com - Bulls Retake Control, In Asia, Japan's Nikkei 225 inched up 0.02% to 10512.80, Hong Kong's Hang Seng advanced 1.54% to 24125.60 and China's Shanghai Composite advanced 0.62% to 2821.30.
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The Hindu : Business / Markets : Sensex gains for 2nd day, rises by 210 pts
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Sensex gains for 2nd day, rises by 210 pts
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PTI A graphic presentation of Monday's closing figures of the Sensex. From yesterday's close of 18,882 points, the 30-share index rose by 152.11 points to 19,034.36 points in morning trade on Tuesday.
The BSE benchmark index Sensex rose for the second day today gaining 210 points on buying by funds in fundamentally strong scrips, especially software and metal stocks, after impressive corporate earnings amid a firming global trend. The Bombay Stock Exchange benchmark Sensex spurted by 209.80 points to close at 19,092.05 points. The broadbased National Stock Exchange index Nifty shot up by 69.30 points to 5,724.05 points. Market sentiment improved after software major TCS reported nearly 30 per cent rise in the third quarter net profit, brokers said. The metal sector stocks were second in a row in pushing up the market following a recent hike in steel prices and a rising basemetal prices in overseas markets. Besides, a better trend in emerging markets, which rose for the first time in four days as technology companies gained on speculation demand for software services will be sustained, was another boosting factor. The IT sector index gained the most rising by 2.60 per cent to 6,720.76 as the segment major TCS rose by Rs 62.40 to Rs 1,200.55, Infosys by Rs 50.20 to Rs 3,318.15 and Wipro by Rs 13 to Rs 479.15. The metal sector index rose by 2.31 per cent to 16,528.72 points as shares of Tata Steel, JSW Steel, Sterlite Industries and Hindalco recorded handsome gains. As the buying activity spilled over a widefront, the midcap index rose by 0.45 per cent to 7,155.35 and small cap index by 0.28 per cent to 8,893.27 points. Keywords: Sensex
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FoxBusiness.com - Stocks Stay Hot as M

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Stocks Stay Hot as Markets Unfazed by Jobs, Citi

By Matt Egan
Published January 18, 2011 | FOXBusiness Print Email Share Comments Text Size
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FOX Business: The Power to Prosper Building on its first seven-week surge in nearly four years, Wall Street climbed steadily higher to fresh two-year highs on Tuesday in the face of Steve Jobss mysterious leave of absence at Apple and Citigroup's big earnings dud. Today's Markets The Dow Jones Industrial Average rose 50.55 points, or 0.43%, to 11837.93, the Standard & Poor's 500 gained 1.78 points, or 0.14%, to 1295.02 and the Nasdaq Composite advanced 10.55
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18-Jan-2011 FoxBusiness.com - Stocks Stay Hot as M points, or 0.38%, to 2765.85. The FOX 50 lost 1.94 points, or 0.21%, to 922.83.
Instead of worrying about Apple (AAPL: 346.91, -1.29, -0.37%) and Citigroups (C: 4.83, -0.29, 5.66%) results, Wall Street focused on upcoming results from Google (GOOG: 642.79, +20.04, +3.22%), enthusiasm for Boeing's (BA: 72.49, +2.44, +3.48%) new 787 Dreamliner schedule and a surge for the closely-watched euro. The trend continues to be really constructive, with earnings driving, said Peter Kenny, managing director at Knight Capital Group. The market has definitely shaken off Jobs. Weve been inoculated to that story. The Dow landed at a level unseen since June 2008 -- nearly three months before the implosion of Lehman Brothers that cratered the economy. Most of the benchmark index's 30 components advanced, led by economically-sensitive Caterpillar (CAT: 96.26, +2.27, +2.42%) and Boeing. The index's weakest links were Verizon (VZ: 34.36, -1.10, -3.10%) and Bank of America (BAC: 15.02, -0.23, -1.51%), which is set to report results on Friday. The Nasdaq Composite posted more tepid gains, but still climbed out of a big early hole amid strength from tech stocks like Research in Motion (RIMM: 65.27, +0.50, +0.77%) and Google. The index also reached its highest close since November 2007. Tuesday's resiliency is nothing new on Wall Street as the S&P 500 last week capped off its seventh consecutive weekly rally, the longest such streak since May 2007. Wall Street was closed on Monday in observance of Martin Luther King Day.
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Tech traders breathed a sigh of relief as Apple slashed its early 6.5% dive despite question marks about the health of Jobs, its co-founder. Few companies' fortunes are thought to be as closely aligned to their CEO as Apple's with Jobs, who is its chief visionary. While Jobs said he is staying on as CEO, Tim Cook, Apple's respected chief operating officer, will take control of day-to-day operations. Apple could give new clues about the reason for Jobs's medical leave and when he is expected back when it releases its quarterly results after Tuesday's close. Wall Street also shook off a 5% dive for Citigroup, which disappointed shareholders with a fourthquarter profit of 4 cents a share, trailing consensus calls for 8 cents. The No. 3 U.S. bank's revenue more than doubled to $18.37 billion, but badly missed the Street's view for $20.4 billion. On the other hand, Boeing provided a boost to the markets, jumping 3% after saying it sees its 787 Dreamliner deliveries finally beginning in the third quarter. While that marks the seventh official delay to the program, shareholders breathed a sigh of relief at the new timetable and the fact Boeing doesnt see a material impact on its 2010 results. Likewise, U.S. markets cheered the soaring euro, which climbed above its 100-day moving average and leaped 0.68% to $1.3381. Wall Street tends to benefit from a weaker U.S. dollar because it makes exports cheaper. In the commodities complex, crude oil fell 16 cents a barrel, or 0.17%, to $91.38. Gold gained $7.70 a troy ounce, or 0.57%, to $1,368.10.
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18-Jan-2011 FoxBusiness.com - Stocks Stay Hot as M Wall Street had little reaction to the New York Federal Reserves Empire State Manufacturing index, which soared in January to 11.92, nearly meeting forecasts for 12. The index stood at just 11.92 in December. Also, the National Association of Home Builders said its January home builder sentiment index remained at its very low level of 16 for the third straight month.
Corporate Movers Comcast (CMCA) won approval from both the Federal Communications Commission and the Justice Department to acquire control of General Electric's (NYSE:GE) NBC Universal. However, the DOJ said Comcast must relinquish management of Hulu, the online video distributor, and the FCC included a number of restrictions as well. Delta Air Lines (DAL: 11.71, -1.02, -8.01%) descended 8% after revealing weaker-than-expected non-GAAP EPS of 19 cents. Analysts had been calling for EPS of 24 cents. The No. 2 U.S. airliner said its operating revenue advanced 14% to $7.79 billion, beating the Streets view, but operating expenses rose 9% to $644 million, led by a 39% increase in maintenance. Smith & Nephew (SNN: 56.83, +1.96, +3.57%) rallied nearly 4% to 52-week highs after the U.K.s Sunday Times reported Johnson & Johnson (JNJ: 62.12, -0.38, -0.62%) is considering a new buyout bid worth at least 800 pence a share for Europes No. 1 replacement joint company. The bid would value Smith & Nephew at $11.3 billion and come after a tentative approach was rebuffed last year. Yum! Brands (YUM: 49.20, +1.38, +2.89%) revealed it plans to auction off its Long John Silver's and A&W All-American Food Restaurant brands because it doesn't believe they fit into its long-term growth strategy. The parent of Pizza Hut and Taco Bell said it doesn't see a material impact from the eventual sale. TD Ameritrade (AMTD: 21.16, +0.51, +2.47%) grew its fiscal first-quarter profits by 6.5% to 25 cents a share, matching Wall Streets expectations. Revenue rose 5% to $656.2 million, topping forecasts. Total client assets jumped 21% to a new record of $386 billion. Charles Schwab (SCHW: 18.87, +0.06, +0.32%) posted an in-line 33% rise in non-GAAP earnings to 10 cents a share. The online brokerage's revenue increased 14% to $1.13 billion, narrowly exceeding expectations. Walt Disneys (DIS: 39.40, +0.13, +0.33%) ABC network is losing veteran broadcaster Regis Philbin, who announced plans to retire from Life With Regis and Kelly after 25 years. Philbin said he will step down around the end of the summer. Global Markets The U.K.'s FTSE 100 rose 1.18% to 6056.43, Germany's DAX jumped 0.92% to 7143.45 and France's CAC 40 rallied 0.94% to 4012.68. In Asia, Japan's Nikkei 225 inched up 0.15% to 10519, Hong Kong's Hang Seng slipped 0.01% to 24154 and China's Shanghai Composite gained 0.09% to 2708.98.
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FoxBusiness.com - Dow Barrels Toward

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Dow Barrels Toward 12000 as Techs, Materials Soar

By Matt Egan
Published January 24, 2011 | FOXBusiness
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FOX Business: The Power to Prosper After a week of hesitation, the blue chips soared more than 100 points and almost brushed up against the 12000 threshold on Monday as the markets benefited from a surge of buying in the materials and tech sectors. Today's Markets The Dow Jones Industrial Average rose 108.68 points, or 0.92%, to 11980.52, the Standard & Poor's 500 gained 7.49 points, or 0.58%, to 1290.84 and the Nasdaq Composite jumped 28.01 points, or 1.04%, to 2717.55. The FOX 50 picked up 5.91 points, or 0.64%, to 926.93. The impressive rally marked Wall Street's strongest performance since December 2. It also put the
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24-Jan-2011 FoxBusiness.com - Dow Barrels Toward Dow on track to bring its weekly win streak to nine -- a feat it hasn't accomplished since May 1995 -- and allowed the Nasdaq Composite to recapture a chunk of the ground it lost during last week's three-day slump.
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There didn't appear to be any major catalysts for the solid rally on Wall Street, but it was supported by strong gains in the tech and materials sectors and by a big stock buyback from chip giant Intel (INTC). As long as oil stays off and the dollar doesnt get too decimated, I think the market can hold its spot and edge higher, said Frank Davis, director of sales and trading at LEK Securities. The latest advance left the Dow in striking distance of the psychologically-important 12000 level, a threshold it hasn't closed above since June 2008 -- three months before the implosion of Lehman Brothers that rocked the economy. However, it's worth noting Monday's rally took place on the lightest trading volume of the new year, perhaps indicating lingering skepticism by some. People are not necessarily jumping into the market but easing into it and supporting this rally, said Davis. The Dow landed at its highest level since June 19, 2008. Most of the benchmark index's 30 stocks advanced, led by aluminum maker Alcoa (AA) and IBM (IBM). The index's weakest links were financial giants Bank of America (BAC) and American Express (AXP). The Nasdaq Composite enjoyed even heavier buying, led higher by tech stocks Apple (AAPL) and Nvidia (NVDA). Intel fueled some of the enthusiasm by boosting its stock buyback plan by $10 billion, bringing its total to $14.2 billion. The tech bellwether also increased its quarterly dividend by 15% to 18.12 cents a share. Nvidia surged 11% in the wake of a positive mention in Barron's that highlighted its new mobile chips for tablets and smartphones. Wall Street was led higher by the basic materials sector, which jumped 1% amid strong gains from stocks such as mining titan Rio Tinto (RIO) and Alcoa. The group benefited from a weaker U.S. dollar and a 0.97% jump in copper prices to $4.3415 a pound. Even McDonald's (MCD) closed modestly higher despite reporting an in-line 2.1% rise in fourthquarter profits on weaker-than-expected sales of $6.21 billion. Traders will receive another batch of corporate earnings after the close from other major companies like Amgen (AMGN) and Texas Instruments (TXN). On the commodities front, crude oil fell $1.24 or 1.39%, a barrel to $87.87. Gold declined $3.50 a troy ounce, or 0.26%, to $1,344.50. Corporate Movers Sara Lee (NYSE:SLE ) is mulling competing buyout bids, The Wall Street Journal reported. Brazilian beef processor JBS is expected to make a new bid and a group of private-equity firms led by Apollo Global Management and Bain Capital submitted a bid for between $18 and $19 a share, the paper said. However, Sara Lee would only be willing to sell in the low $20s a share and it could still decide to split itself up.
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RadioShack (RSH) tumbled 11% to 52-week lows after warning it sees fourth-quarter earnings of 50 cents to 54 cents on sales of $1.37 billion. Analysts had called for much stronger EPS of 66 cents. The electronics retailer also said CEO Julian Day plans to step down, suggesting to some analysts a sale isnt imminent. Google (GOOG) plans to pay outgoing CEO Eric Schmidt $100 million in equity awards, the company said in regulatory filings. Google shocked the tech world last week by saying Schmidt will step down as CEO and be replaced by co-founder Larry Page. Schmidt will stay on as executive chairman. Halliburton (HAL) beat the Street with a non-GAAP profit of 68 cents a share and a 40% surge in revenue to $5.16 billion. The world's No. 2 oilfield services company had been expected to earn 63 cents a share on $4.88 billion in revenue. Global Markets The U.K.'s FTSE 100 gained 0.81% to 5943.85, Germany's DAX advanced 0.08% to 7067.77 and France's CAC 40 closed up 0.39% to 4033.21. In Asia, Japan's Nikkei 225 advanced 0.69% to 10345.10, Hong Kong's Hang Seng lost 0.31% to 23801.80 and China's Shanghai Composite slumped 0.72% to 2695.72.
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FoxBusiness.com - Blue Chips Blow Past 12000 in Bullish February Debut
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Blue Chips Blow Past 12000 in Bullish February Debut

By Matt Egan Published February 01, 2011 | FOXBusiness Print Email Share Comments (1) Text Size DJIA Nasdaq 12,040.16 2,751.19 +148.23 +1.25% +51.11 +1.89% S&P 500 1,307.59 +21.47 +1.67% Last Change % 932.50 +16.16 Change +1.76%
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Reuters FOX Business: The Power to Prosper Wall Street flipped the calendar to February with bullish enthusiasm on Tuesday as the Dow surged beyond 12000 and the S&P 500 conquered 1300 for the first time in two-and-a-half years amid enthusiasm for impressive manufacturing and earnings reports from around the world. Today's Markets RELATED TOPICS The Dow Jones Industrial Average jumped 148.23 points, or 1.25%, to 12040.16, the Standard & Poor's 500 gained 21.47 points, or 1.67%, to 1307.59 and the Nasdaq Composite rose 51.11 points, or 1.89%, to 2751.19. The FOX 50 added 16.16 points, or 1.76%, to 932.50. The burst of buying represented Wall Street strongest performance since December 1 and comes on the heels of the markets' hottest January since 1997.
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Manufacturing Sector Shows Robust Growth in January UPS 4Q Profit Up 48% Amid Surging Revenue, Margins; View Upbeat Pfizer Cuts 2012 Sales Forecast
Tuesday's rally began as manufacturing reports in Europe and in the U.S. showed strong growth, and continued as UPS (UPS: 74.59, +2.95, +4.12%), Pfizer (PFE: 19.23, +0.99, +5.43%) and other major companies reported fourth-quarter results that left shareholders thoroughly impressed. The global economy looks like it continues to motor forward pretty strongly, said Nick Kalivas, vice president of financial research at MF Global. Fears about the turmoil in Egypt spilling out of control also continued to recede, helped by a lack of new violence there and a pullback in the previously red-hot price of crude oil. My sense is the risk trade is back on. Though Egypt will remain a concern, it appears to be peaceful, constructive and heading in a direction the markets really want, said Peter Kenny, managing director at Knight Capital Group. After days of brushing up against 12000 and then retreating, the Dow finally broke through that psychologically-important level, closing above it for the first time since June 2008. Almost all 30 Dow stocks rallied, led by Pfizer, Alcoa (AA: 17.29, +0.71, +4.28%) and Bank of America (BAC: 14.30, +0.56, +4.08%). The index's weakest links were McDonald's (MCD: 73.42, -0.25, -0.34%) and Procter & Gamble (PG: 63.11, -0.01, -0.02%). The Nasdaq Composite surged almost 2%, driven by technology stocks like Baidu.com (BIDU: 118.31, +0.91, +0.78%) and SanDisk (SNDK: 46.45, +1.08, +2.38%). The S&P 500 landed above the closely-watched 1300 level for the first time since August 2008.
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Were in the process of extending this huge 25% run from the September low. Weve had a heck of a five-month run, said Marc Pado, U.S. market strategist at Cantor Fitzgerald. Traders shouldn't have been caught off guard by the rally as Wall Street has often benefited from an asset allocation shift out of bonds and into stocks during the month's first trading day. The blue chips leaped 93 points in their January debut and 250 points on December 1. At the same time, a gain in January on the Dow results in the benchmark index finishing the year higher 82% of the time. Manufacturing Indicators, Earnings Fuel Rally Wall Street received a flood of global manufacturing reports that signal growth gained steam in January, but so did signs of inflation. In the U.S., the Institute for Supply Management said its manufacturing index soared to 60.8 in January -- the highest level since May 2004. Economists had called for a reading of just 58. However, the prices paid index leaped to 81.5, up from 72.5 in December, compared with estimates for just 73.5. The euro zone's manufacturing index climbed in January to its highest level since 1997, but consumer prices jumped 2.4%. British inflation soared 3.7%, doubling the Bank of England's targets. U.S. markets continue to scale back their fears about the situation in Egypt, which has been paralyzed by eight days of protests demanding longtime President Hosni Mubarak resign. Just as U.S. markets closed, Mubarak addressed the world, saying he will not run for president again and will spend his remaining months focusing on a smooth transition of power. The situation remains volatile, but has calmed considerably from last week. So far the unrest hasn't spilled over into critical oil-producing nations, namely Saudi Arabia. Concerns the Suez Canal would shut down, causing oil to spike above $100 a barrel, have not been realized either. In the clearest sign of the receding fear, crude oil gave back a chunk of the gains from its two-day surge, sinking $1.42 a barrel, or 1.54%, to $90.77. Meanwhile, Wall Street cheered stronger-than-expected results from a number of key companies, headlined by economic bellwether UPS. The shipping giant
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revealed a 48% jump in fourth-quarter profits, topped estimates with non-GAAP EPS of $1.11 a share and predicted 2011 EPS will grow by 16% to 22% to a record. Pfizer was the best performer on the Dow, leaping 5.5% after beating the Street by a penny and posting revenue of $17.6 billion that solidly surpassed consensus calls. Pfizer also announced plans to buy back another $5 billion of its stock, but cut its 2012 sales view. Basic materials stocks, one of the most economically-sensitive sectors, were the biggest winners, jumping more than 2.6%. Individual stocks such as U.S. Steel (X: 59.75, +2.10, +3.64%) and Freeport McMoRan (FCX: 114.20, +5.52, +5.08%) saw even heavier buying. Wall Street also benefited from a weaker dollar, which helped drive up the price of commodities like copper and multinationals. Helped by the increased risk appetite, the euro soared 1.06% to $1.3832 -- its highest level since November 11. Gold rose $5.80 a troy ounce, or 0.43%, to $1,339.60. Airline stocks like Delta Air Lines (DAL: 11.78, +0.10, +0.86%) and JetBlue (JBLU: 5.82, -0.18, -3.00%) were mixed as the travel industry braces for the aftermath of the massive snowstorm hitting the Midwest and other parts of the U.S. According to reports, more than 4,400 flights across the U.S. have been grounded due to the storm. Elsewhere in the transportation world, major auto makers released mostly upbeat monthly sales figures. General Motors (GM: 36.40, -0.03, -0.08%) said U.S. sales of its four brands jumped 23% in January, while Ford (F: 15.90, -0.06, -0.38%) posted a 9.2% increase in sales from the year before. The Commerce Department said U.S. construction spending fell 2.5% in December to $787.9 billion -- the lowest level since July 2000. Economists had called for a slight increase. Corporate Movers Archer Daniels Midland (AMD: 8.22, +0.39, +4.98%) was among the biggest earnings winners, rallying 5% after revealing a non-GAAP profit of $1.06 that blew away Wall Street's expectations for 78 cents. BP (BP: 47.99, +0.54, +1.14%) posted a 30% jump in fourth-quarter profits and unveiled plans to resume dividend payouts and sell off a pair of its U.S. refineries. However, BP's adjusted profit of $4.36 billion trailed estimates. Orexigen Therapeutics (OREX: 2.56, -6.52, -71.81%) plunged more than 70% after the Food and Drug Administration rejected its weight-loss drug due to heart risks. The drug, Contrave, could have been the first new diet pill in a decade. Lexmark (LXK: 39.44, +4.59, +13.17%) surged 13% as its fourth-quarter adjusted-profit of $1.29 widely topped estimates for $1.12. The printer company posted a 3% rise in sales to $1.1 billion. Lexmark also projected first-quarter profits that would beat consensus calls. Novellus (NVLS: 38.13, +1.46, +3.98%) soared 5% to 52-week highs a day after the chip-gear maker beat the Street with a non-GAAP profit of $1.03 and forecasted stronger-than-expected first-quarter sales of up to $425 million. Analysts had been calling for sales of just $381.9 million. Biogen (BIIB: 65.41, -0.07, -0.11%) posted a fourth-quarter profit of 99 cents a share and an adjusted-profit of $1.42 a share. The biotech company said it sees 2011 non-GAAP EPS above $5.70. Tupperware Brands (TUP: 52.55, +6.79, +14.84%) said it earned $1.38 a share on a non-GAAP basis last quarter, exceeding forecasts for $1.28 and sparking a 15% surge in its stock. The companys sales rose 5% to $655 million, topping the Streets view of $642.8 million. Tupperware also said it sees stronger-than-expected EPS for the current quarter. McGraw-Hill (MHP: 36.91, -2.07, -5.31%) slid 5% after it disclosed an 8% slide in fourth-quarter profits. The company posted non-GAAP EPS of 55 cents that topped estimates by 2 pennies. Revenue rose 4% to $1.52 billion, meeting estimates. Global Markets The U.K.'s FTSE 100 jumped 1.62% to 5957.82, Germany's DAX climbed 1.51% to 7184.27 and France's CAC 40 advanced 1.68% to 4072.62. In Asia, Japan's Nikkei 225 gained 0.36% to 10274.50, Hong Kong's Hang Seng inched up 0.15% to 23482.90 and China's Shanghai Composite gained
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Oil above $101 on Egypt port disruptions, dollar - The Economic Times
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You are here: Home Markets Commodities 1 FEB, 2011, 10.21PM IST,REUTERS
Oil above $101 on Egypt port disruptions, dollar

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LONDON: Oil hovered around $101 per barrel on Tuesday after a rally on Monday supported by port disruptions in Egypt, a weakening dollar and concerns about growing social unrest in north Africa. "Geo-politics is at the forefront of the sentiment at the moment. And while we don't expect (oil) transit to be impacted, the news of the port disruptions brings up the what-if?," said Amrita Sen, oil analyst at Barclays. Brent crude futures were up 6 cents at $101.09 a barrel as of 1617 GMT. U.S. crude oil futures were down 74 cents at $91.46 per barrel after falling by over $1 during the day. Shipping sources said there were major disruptions in Egypt's Alexandria and Damietta ports, pushing Brent swiftly past $101. Risk-buyers were also encouraged to take long positions as the wave of uprisings from Egypt and Tunisia spread to Jordan, prompting the country's king
RELATED ARTICLES Dow eyes close above 12,000 as Wall St rallies Seven lenders hike interest rates by up to 50 basis points Sensex drops to 5-month low, Reliance Industries falls Market not to see sustained downtrend: Sukumar Rajah, Franklin Templeton Investments Small-caps bear the brunt as wary investors head to exit
to dismiss the prime minister and cabinet. In Cairo at least 1 million Egyptians took to the streets to protest with other mass anti-government rallies being staged in other key cities. "The more alarming the news is from the region, the more nervous the market is and the higher the political premium," said Eugen Weinberg an analyst Commerzbank's senior commodity analyst, adding that a weaker dollar also supported higher prices.
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The dollar fell to its lowest level against the Euro on Tuesday after the Euro zone released strong economic data. THE EGYPT "WHAT-IF" While Egypt is a minor player on oil markets, it controls two major transit points, the Suez canal and the Sumed pipeline that brings oil from the Red Sea to the Mediterranean. So far analysts and traders say supply disruptions along these routes are unlikely. The International Energy Agency said on Tuesday the oil market does not face any emergency, but called on OPEC to remain "flexible" in the event that contagion does spread and shortages begin to show. The top oil official for OPEC member Libya told Reuters OPEC does not need to meet to discuss oil policy in February because the market is well supplied and prices of $100 are justified. The Organization of the Petroleum Exporting Countries says it holds about 6 million barrels per day (bpd) of idle production capacity -- equal to 7 percent of world demand -- that it could tap to fill any shortage. Most of this capacity is held by Saudi Arabia. "The market moves on the what-if factor, so you can't rule it out," said Toni Machacek, an oil broker at Bache Commodities.
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"But if there is a significant reduction of tensions in Egypt we will settle back to more normal levels and go below $100 to the upper 90-dollar range we had for the first few weeks in the year." The market expects the U.S. Energy Department to show high crude inventories in data to be released on Wednesday, which analysts said could further pressure U.S. crude futures. According to a Reuters poll of analysts, U.S. crude inventories likely rose 2.8 million barrels last week on higher imports, while colder weather drew down distillate stockpiles by 1.2 million barrels.
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Dow hits 12,000 as Wall St rallies - The Economic Times
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You are here: Home Markets Global Markets 2 FEB, 2011, 01.32AM IST,REUTERS
Dow hits 12,000 as Wall St rallies

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NEW YORK: The Dow and S&P 500 closed at their highest levels since June 2008 on Tuesday and looked poised for more gains after strong earnings and signs of a surge in U.S. manufacturing. Data showing improved factory activity and strong results from shipping company UPS Inc, seen as a gauge for economic activity, bolstered the growing impression among investors that a recovery was broadening. The rising sentiment drew in additional buyers on a well -traded day as fears that Egypt's turmoil could spread elsewhere lessened. Volume was above last's years daily average with 8.71 billion shares traded on the NYSE, Amex, and Nasdaq amid reports of some large scale buying from institutional investors. The Dow closed above the psychologically important 12,000 level for the first time since June 2008. Scott Marcouiller, chief technical market strategist at Wells Fargo Advisors in St. Louis, said the biggest pullback in six months on Friday had lured investors. "There was an opportunity for that money that had missed out to jump in," he said.
RELATED ARTICLES Oil above $101 on Egypt port disruptions, dollar Seven lenders hike interest rates by up to 50 basis points Sensex drops to 5-month low, Reliance Industries falls Market not to see sustained downtrend: Sukumar Rajah, Franklin Templeton Investments Small-caps bear the brunt as wary investors head to exit
http://economictimes.indiatimes.com/markets/global-markets/dow-hits-12000-a... 01-Feb-2011
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The Dow Jones industrial average gained 148.23 points, or 1.25 percent, to 12,040.16. The Standard & Poor's 500 Index rose 21.45 points, or 1.67 percent, to 1,307.57. The Nasdaq Composite Index added 51.11 points, or 1.89 percent, to 2,751.19. The S&P 500 closed above 1,300 for the first time since August 2008.
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Bulls Feast on Deals, Drive Dow to Sixth Day of Green

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FOX Business: The Power to Prosper Inspired by a flurry of M&A deals that underscore growing confidence in the recovery, Wall Street climbed to fresh two and-half-year highs on Monday, giving the blue chips their first six-day surge since early November.
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The Dow Jones Industrial Average rose 69.48 points, or 0.57%, to 12161.63, the Standard & Poor's 500 gained 8.18 points, or 0.62%, to 1319.05 and the Nasdaq Composite jumped 14.69
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07-Feb-2011 FoxBusiness.com - Bulls Feast on Deals, points, or 0.53%, to 2783.99. The FOX 50 picked up 6.90 points, or 0.74%, to 939.99.
The red-hot markets continue to mount their offensive, largely shrugging off continued political uncertainty in the Middle East and consistently disappointing monthly labor reports. The latest rally left the blue chips in territory unseen since June 2008 -- three months before the implosion of Lehman Brothers that rocked the global economy.
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Most of the Dow's 30 stocks closed in the green, driven by financial giants American Express www.AwesomePennyStocks.com (AXP: 44.82, +1.01, +2.31%) and Bank of America (BAC: Buy a link here 14.69, +0.33, +2.30%). The weakest links from the index, were Pfizer (PFE: 19.03, -0.26, -1.37%) and Kraft (KFT: 30.88, 0.32, -1.03%). RELATED LINKS
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Tech stocks such as Apple (AAPL: 351.86, +5.38, +1.55%) and Dell (DELL: 14.02, +0.13, +0.94%) helped push the Nasdaq to its highest settle since November 2007. The gains come after the Dow rallied 260 points last week -- its ninth weekly gain of the past 10 -- and the Nasdaq leaped 3.07% for its best week since June 2010.
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Without any major economic or earnings reports to use for guidance, much of the focus was on a trio of acquisitions announced on Monday: Danaher (DHR: 49.01, +1.05, +2.19%)scooped up medical diagnostics company Beckman Coulter (BEC: 82.63, +7.45, +9.91%) for about $6.8 billion, oil driller Ensco (ESV: 52.12, -2.28, -4.19%) bought rival Pride International for $7.3 billion and AOL (AOL: 21.19, -0.75, 3.42%) will swallow The Huffington Post for $315 million.
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Wall Street typically cheers strategic acquisitions such as the ones unveiled already this week because it often leads to more deals and shows companies are confident enough about the economy to shell out the big bucks. Monday's rally underscores Wall Street's ability to continue to shrug off the turmoil in Egypt. Fears that the chaos there would spill over into oil-producing nations like Saudi Arabia or cause the closure of the crucial Suez Canal have still not been realized, relieving the bulls in the markets. In a clear sign of the receding worries, crude oil, which relies on the Suez Canal for transport out of the Middle East, backed away from its crisis highs for the fourth day of the last five. Crude settled at $87.48 a barrel, down $1.55, or 1.74%. Gold gained 70 cents a troy ounce, or 0.05%, to $1,347.60. In the only noteworthy piece of economic data on the agenda, the Federal Reserve said U.S.
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07-Feb-2011 FoxBusiness.com - Bulls Feast on Deals, consumer credit jumped by $6.1 billion in December -- nearly tripling forecasts from economists for a rise of just $2.3 billion. The report is a sign consumers have been confident enough to increase their credit-card debt.
Corporate Movers AOL (AOL: 21.19, -0.75, -3.42%) unveiled plans to acquire online news site The Huffington Post for $315 million. As part of the deal, Arianna Huffington will become editor-in-chief of a new AOL division housing its content and The Huffington Post. AOL said it will use $300 million of cash on its balance sheet to pay for the deal. Danaher (DHR: 49.01, +1.05, +2.19%) acquired medical diagnostics company Beckman Coulter (BEC: 82.63, +7.45, +9.91%) for about $6.8 billion, marking a 45% premium before rumors of a potential deal began swirling. The all-cash deal places an $83.50-a-share value on Brea, Calif.based Beckman, which makes and markets biomedical testing instrument systems, tests and supplies. Ensco (ESV: 52.12, -2.28, -4.19%) bid $7.3 billion for rival Pride International (PDE: 39.80, +5.42, +15.76%) in a marriage that would create the second-largest offshore oil and gas driller in the world. The $41.60-a-share deal puts a 21% premium on Pride. News Corp.'s (NWSA: 16.59, -0.29, -1.72%) FOX network set a new all-time ratings record by drawing 111 million viewers for its coverage of Super Bowl XLV. The figures topped the 106.5 million viewers that tuned into last year's game. News Corp. is the parent of FOX Business. Nasdaq OMX Groups (NDAQ: 26.78, +0.41, +1.55%) Nasdaq Stock Market acknowledged a confidential document-sharing service was been hacked into, perhaps in an effort to find nonpublic inside information that could be illegally traded on. Nasdaq said it has notified its customers and is consulting with authorities. Hasbro (HAS: 45.64, +0.82, +1.83%) beat the Street with a non-GAAP profit of $1.02, compared with forecasts for 92 cents. However, the toy maker's sales fell 7% to $1.28 billion, trailing consensus calls for $1.3 billion. Global Markets The U.K.'s FTSE 100 rose 0.89% to 6051.03, Germany's DAX gained 0.93% to 7283.62 and France's CAC 40 leaped 1.08% to 4090.80. In Asia, Japan's Nikkei 225 advanced 0.46% to 10592, Hong Kong's Hang Seng slumped 1.49% and China's Shanghai Composite closed up 0.30% to 2798.96..
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FoxBusiness.com - McDonalds Serves U

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MARKETS
McDonalds Serves Up Dows Seventh Daily Gain

By Matt Egan
Published February 08, 2011 | FOXBusiness Print Email Share Text Size
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FOX Business: The Power to Prosper Wall Streets 2011 buying binge gained further momentum Tuesday as McDonalds led the blue chips to fresh two-and-a-half-year highs and to their first seven-day surge since July. Today's Markets The Dow Jones Industrial Average jumped 71.52 points, or 0.59%, to 12233.15, the Standard & Poor's 500 gained 5.52 points, or 0.42%, to 1324.57 and the Nasdaq Composite advanced 13.06 points, or 0.47%, to 2797.05. The FOX 50 added 5.09 points, or 0.54%, to 944.08.
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08-Feb-2011 FoxBusiness.com - McDonalds Serves U Ever since shaking off fears about the turmoil in Egypt, Wall Street has been on a steady climb higher amid general enthusiasm about the strengthening economy, strong corporate profits and new life in the M&A market.
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Wall Street proved its resilience once again on Tuesday as the markets largely shrugged off concerns China's third interest rate hike since October would hurt global growth and demand for commodities. Instead, most of the focus was on McDonald's (MCD: 75.36, +1.91, +2.60%) impressive same-store sales growth. Nobody seems to want to sell this market. Everyone is waiting for a pullback, but they are waiting to be a buyer, not a seller, said Marc Pado, U.S. market strategist at Cantor Fitzgerald. Thanks to Tuesday's solid rally, the Dow closed at its best level since June 2008. The seven-day streak is Wall Street's longest since July 14 and the 3.4% jump over that span marks its strongest seven-day performance since September. RELATED LINKS
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Most of the benchmark index's 30 components advanced, led by McDonald's and American Express (AXP: 45.88, +1.06, +2.37%). The weakest links were Cisco Systems (CSCO: 21.99, -0.01, -0.05%) and ExxonMobil (XOM: 82.98, -0.92, 1.10%).
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The Nasdaq Composite posted lighter gains, but still landed un territory unseen since November 2007 amid rallies for Amazon.com (AMZN: 183.19, +6.77, +3.84%) and eBay (EBAY: 32.63, +0.39, +1.21%). There are some signs the recent rally on Wall Street may be running out of steam. In a potential sign of a lack of faith in Tuesday's rally, the New York Stock Exchange's consolidated volume was the slowest of the year. Pado points to a lack of leadership and an inflow of cash into large-cap stocks instead of the smaller companies that represent "risk and conviction." Were coasting up hill," said Pado. "You dont really have the momentum or the fuel but you are still coasting higher. Short term, its a little disconcerting. Much of the credit for Tuesday's rally can go to the consumer discretionary sector, which jumped more than 1% in the wake of McDonald's saying its same-store sales soared 5.3% last month. Analysts had called for a rise of just 3.7%. The upbeat report is the latest sign consumers continue to increase their spending and helped boost other consumer stocks like Macy's (M: 24.27, +0.76, +3.23%) and Saks (SKS: 11.81, +0.36, +3.14%). Wall Street proved to be unfazed by the latest efforts by China to cool off its red-hot economy. China's central bank announced plans Tuesday to boost its interest rate by 0.25 percentage point. Wall Street pays close attention to the monetary policy moves by China because of its outsized role in driving global growth and its voracious appetite for commodities. In the wake of the China move, crude oil fell 54 cents a barrel, or 0.62%, to $86.94. Gold jumped $15.80 a troy ounce, or 1.17%, to $1,363.40.
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Some big tech stocks such as Hewlett-Packard (HPQ: 48.14, -0.01, -0.02%) and Intel (INTC: 21.65, -0.04, -0.18%) were under pressure from a Goldman Sachs note lowering its 2011 PC unit growth forecast to 6.4% from 8% due in part to strength from tablet devices. Corporate Movers ArcelorMittal (MT: 38.31, +1.58, +4.30%) jumped 4% after predicting demand will improve in 2011, returning to full-year profits and posting a 19% jump in quarterly sales to $20.7 billion. Toyota (TM: 88.64, +3.47, +4.07%) hiked its full-year profit view to a stronger-than-expected $5.96 billion despite a 39% slide in quarterly profits. NYSE Euronext (NYX: 33.40, -0.29, -0.86%) posted a 20% slide in fourth-quarter profits, but surpassed estimates with non-GAAP EPS of 46 cents a share. The parent of the New York Stock Exchange said revenue fell 4% to $613 million, essentially matching the Streets view. Kindred Healthcare (KND: 25.01, +5.53, +28.39%) inked a $900 million cash-and-stock deal to acquire rival RehabCare Group (RHB: 37.02, +11.57, +45.46%). The deal translates to $35-ashare, putting a 37% premium on RehabCare. Both companies also posted fourth-quarter earnings beats. Sara Lee (SLE: 17.16, +0.24, +1.42%) said it earned 25 cents a share on a non-GAAP basis, trailing the Streets view by a penny. The maker of Hillshire Farm lunch meats and BallPark hot dogs backed its full-year guidance, but said its sales declined 0.4% to $2.35 billion, significantly lower than the $2.52 billion analysts had called for. Warner Music Group (WMG: 5.60, -0.64, -10.26%) tumbled 10% in the wake of disclosing a deeper quarterly loss of 12 cents a share. Sales at the No. 3 music company slid by a deeperthan-expected 14% to $789 million. Avon Products (AVP: 28.49, -0.86, -2.93%) slid 3% after saying its fourth-quarter profits fell 15% and posting a non-GAAP profit of 59 cents a share. Analysts had called for EPS of 67 cents. Avon, which is the largest direct seller of cosmetics in the world, missed estimates with sales of $3.18 billion. Global Markets The U.K.'s FTSE 100 rallied 0.67% to 6091.33, Germany's DAX gained 0.54% to 7323.24 and France's CAC 40 closed up 0.43% to 4108.27. In Asia, Japan's Nikkei 225 advanced 0.41% to 10636, Hong Kong's Hang Seng slumped 0.29% to 23484.30 and China's Shanghai Composite remained closed.
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Business Markets
Sensex rises 473 points on easing inflation
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PTI A stock broker reacts while looking at Sensex stock index at brokerage firm in Mumbai. File photo
The BSE benchmark Sensex today surged over 473 points to 18,202.20, biggest single day gain in nine month easing inflation and end of turmoil in Egypt encouraged investors to buy fundamentally sound stocks that we recently beaten down on poor sentiment. The Bombay Stock Exchange benchmark index Sensex, which dipped to 7-month low in the previous few day bounced back for the second session by surging 473.59 points to 18,202.20, after touching the days high of 18,227.62. Sensex has lost 14 per cent from the record level on November 5, as high inflation and increasing central ban pushed up borrowing costs for industry as well as the consumer. The broad-based National Stock Exchange index Nifty zoomed up 146 points to 5,456 and touched intra-day 5,463.80. The gauge recorded a biggest single session rise after May 10, as Egyptian President Hosni Mubarak resigned concern about high oil prices that stoke overall inflation. Meanwhile, inflation declined marginally to 8.23 per cent in January from 8.43 per cent in the previous mont prices of certain commodities like wheat, pulses and sugar eased, although essential items like onion and oth vegetables remained costly. Brokers said the market was in the over-sold mode and the current rise forced speculators to square up their p long positions. They said easing tension in the Middle-East also kept the global markets higher. The Asian stocks advanced, rebounding from the biggest weekly decline since August, after Japans economy s less than estimated. European markets also opened higher. The rally was supported by stocks of Tata Motors, Hero Honda, Maruti Suzuki, Bajaj Auto, BHEL, Larsen and Infosys, Tata Consultancy Services, State Bank of India, HDFC Bank, ICICI Bank, Tata Steel and Tata Power.
thehindu.com//article1454936.ece 1/2
14-Feb-2011
The capital goods, auto and metal sector stocks remained on the fore-front on expectations that easing inflati would bolster growth and raise demand for the infrastructure. The heaviest on the Sensex, Reliance Industries rose Rs. 4.60 to Rs. 915.20 and second heaviest Infosys Techn by Rs. 63.95 to Rs. 3,104.55. The two carry nearly 23 per cent weightage on the index. As the buying activity spilled over a wide front, smallcap sector index rose by 3.94 per cent to 8,116.62 and mi index by 3.52 per cent to 6,703.82. Keywords: Sensex, inflation, BSE, markets Ads by Google Atlanta Coupons 1 ridiculously huge coupon a day. It's like doing Atlanta at 90% off! www.Groupon.com/Atlanta Market Crash on 2/28/11? Technical indicators suggest market collapse may begin by February 28th www.StealthStocksOnline.com Ugly Inflation Is Coming These 7 Deadly Ingredients Could Wipe Out The Economy Report AgoraFinancial.com/Inflation
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Business Markets
Sensex extends gain for third session; ends 72 points up
PTI
In volatile trading, the BSE benchmark Sensex today surged for the third session in a row, rising almost 72 po close at 18,273.80 on capital inflow by foreign funds as blue-chips, led by RIL, were available at attractive val The Bombay Stock Exchange benchmark Sensex, which gained nearly 740 points in the previous two sessions gathered another 71.60 points to 18,273.80 supported by a strong comeback by most-weighed Reliance Indus stocks. The gauge moved between 18,361.66 and 18,050.48 during the session, showing volatile movements in stocks In a similar fashion, the broad-based National Stock Exchange index Nifty shot up 25.00 points to 5,481.00 a crossing the psychological mark of 5,500 points to touch the sessions high of 5,506.50 and a low of 5,408.35. Brokers said that apart from sustained buying by foreign funds and retail investors, hectic short-covering in th recently beaten oil and gas, banking and auto sector stocks was also responsible for the ongoing rally on the m RIL, which had been trading in the negative zone for the past several sessions, bounced back on emergence o at prevailing levels and ended 2.90 per cent to Rs. 941.75. Tata Power, the largest power producer in the private sector, gained 2.14 per cent to Rs. 1,267.90 on a flurry o buying, triggered by a three-fold increase in net profit for the third quarter ended December 31, 2010, while S Bank of India, countrys biggest lender, surged 1.38 per cent to Rs. 2,728.40. Tata Motor shares ended 2.41 per cent higher at Rs. 1,237.85 after its global sales increased 16 per cent in Jan The oil and gas sector gained the most, up 1.85 per cent at 9,497.05, followed by banking index that was up b per cent to 12,429.32. The PSU index gained 1.10 per cent to 8,637.79, auto index by 0.71 per cent to 8,875.58 power index by 0.14 per cent to 2,639.59 points. However, capital goods sector index which had been rising in the past two sessions, fell by 1.75 per cent to 13 as BHEL and Larsen and Toubro succumbed to profit-booking. The realty sector index also shed 1.33 per cent 2,112.90 and the IT sector Index closed lower by 0.40 per cent to 6,245.08. Keywords: sensex, markets, BSE Ads by Google Market Crash on 2/28/11? Technical indicators suggest market collapse may begin by February 28th www.StealthStocksOnline.com Top 12 Stocks to Buy Now Panel of nation's leading analysts just announced their favorite picks www.TopStockAnalysts.com Atlanta Coupons 1 ridiculously huge coupon a day. It's like doing Atlanta at 90% off! www.Groupon.com/Atlanta
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Dell, Deals Drive Dow to New Highs

Returning from a rare two-day break, the bulls bid Wall Street to fresh two and-a-half-year highs on Wednesday as new deal-making and earnings beats from Dell and Deere inspired the markets. Dell Shares Up 10% As Earnings Impress Street Deere 1Q Profit More Than Doubles, Easily Topping Views Inventories in December Jump Surprising 1%
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Google Expands In Ireland With EUR99.9 Million Building Buy Premarkets Pause as Jobs, Inflation Data Loom Vale's Mozambique Coal Exports On Track Despite Rail Issues Implats Revenue Up On Metal Prices, Zimbabwe On Track PRECIOUS METALS: Spot Gold Firm On Technicals, Risk Aversion BP: To Boost PTA Production Capacity At Zhuhai Chemical BNP Paribas Profit Hit By AXA Write-Down Google Agrees To Buy Dublin Office Building For EUR99.9 Million Former JPM Executive Bill Winters Sets Up Renshaw Bay Inpex: Test Drilling At Vietnam Offshore Oil Field Successful
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Sensex spurts 206 points on fresh fall in food inflation
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Strong demand for capital goods, banking and auto scrips
The Bombay Stock Exchange sensitive index, Sensex, rallied 206 points on Thursday and closed at 18506.82 18300.90, maintaining the winning momentum for the fifth session in a row, as food inflation dipped further outlook was broadly positive in the overseas markets. The benchmark index gained 1,043.78 points or 5.98 per cent in the past five sessions, making it one of the st winning streaks so far this year. Capital goods, banking and auto counters were in strong demand, while realty counters attracted profit-booki smart gains. Food inflation fell for the second straight week to a two-week low of 11.05 per cent for the week ended Februa against 13.07 per cent in the previous week, providing some relief to the market participants. They said low in will keep interest rates from rising sharply in the near future. The NSE 50-share Nifty also ended stronger by 64.75 points or 1.18 per cent to a 3-week high of 5546.45. Som brokers termed the gains as pre-budget rally, while others said that it was short-coverings ahead of the Union to be presented on February 28, as well as the approaching expiry of February series of contracts next Thursd pre-budget rally continues on BSE, with the Indian indices extending their winning streak to a fifth straight t session after government data showed a steep decline in food inflation, said IIFL Head of Research Amar Am On the global front, Asian stock markets ended narrowly mixed. The key indices in China, Hong Kong and Japan closed with gains while from Singapore, South Korea and Ta ended with losses. European shares were trading nearly flat in their afternoon trading. Overall, 19 of 30 index-based stocks settled with gains, while others closed with losses.
thehindu.com//article1464882.ece 1/2
17-Feb-2011
HDFC Bank was the top gainer from the Sensex pack with a surge of 4.15 per cent to Rs. 2,183.80. HDFC gain 3.15 per cent to Rs. 649.35, Bharti Airtel 3.14 per cent by Rs. 338.45, L&T by 2.69 per cent to Rs. 1,693.80, Ta by 2.16 per cent to Rs. 654.90), M&M by 1.84 per cent to Rs. 669.25, Bajaj Auto by 1.62 per cent to Rs. 1,353 a by1.05 per cent to Rs. 158.35 Rupee gains The rupee appreciated by 18 paise against the dollar on Thursday and closed at 45.34/35 following bullish loc equities amid sale of dollar by exporters and some banks. It closed at 45.52/53 on Tuesday. At the interbank foreign exchange market, the rupee opened, after Wednesday's holiday, higher at 45.45/46 a and touched a low of 45.50. Later, it recovered in line with equities and touched a high of 45.33 before finishing at 45.34/35. Keywords: Sensex, Nifty, RBI, central bank Ads by Google Market Crash on 2/28/11? Technical indicators suggest market collapse may begin by February 28th www.StealthStocksOnline.com Stocks Ready To Explode #1 U.S Penny Stock Newsletter 1000% Gains, Join Now Free WhisperfromWallStreet.com Atlanta Coupons 1 ridiculously huge coupon a day. It's like doing Atlanta at 90% off! www.Groupon.com/Atlanta
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MARKETS
Sea of Green: Stocks Extend 2011 Surge

By Matt Egan
Published February 18, 2011 | FOXBusiness Print Email Share Comments (0) Text Size
FOX Business: The Power to Prosper Wall Street capped off its third consecutive weekly rally in bullish fashion on Friday as the blue chips captured new two and-a-half-year highs and a late burst of buying tipped the Nasdaq Composite into the green. Today's Markets The Dow Jones Industrial Average jumped 73.11 points, or 0.59%, to 12391.25, the Reuters Standard & Poor's 500 gained 2.58 points, or 0.19%, to 1343.01 and the Nasdaq Composite added 2.37 points, or 0.08%, to 2833.95. The FOX 50 picked up 0.47 points, or 0.05%, to 952.25. Wall Street managed to chug higher after shaking off early concerns about China's latest efforts to cool off its red-hot economy, underscoring the markets' continued resiliency. Right now were in an environment where the negatives are shrugged off, the positives are accentuated, any dip is viewed as a buying opportunity and people remain unfailingly -- though complacently -- bullish, said Michael James, managing director of equity trading at Wedbush Securities.
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FoxBusiness.com - Sea of Green: Stocks With the latest burst of buying, the blue chips clinched their 20th weekly rally of the last 25, a feat the bulls haven't accomplished since 1989. In fact, the three-week leap of 4.8% for the benchmark index was its best since August. For the year, the blue chips have climbed 7%.
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The Dow, which closed at its highest level since June 5, 2008, was led higher by Caterpillar (CAT: 105.86, +2.47, +2.39%) and Traveler's (TRV: 60.93, +1.14, +1.91%). The index's weakest links were American Express (AXP: 45.52, -0.28, 0.61%) and Pfizer (PFE: 19.23, -0.15, -0.77%). Boosted by soaring Intuit (INTU: 54.11, +3.26, +6.41%) and Oracle (ORCL: 33.68, +0.68, +2.06%), the Nasdaq Composite eked out a minor gain at the closing bell, landing at its best level since October 31, 2007. In fact, the index, which had been pressured by a 2% decline for Apple (AAPL: 350.35, -8.10, 2.26%), is off just 0.88% from its 10-year high of 2859.12.
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Its pretty hard to shake the confidence of the bulls right now, said James. The consensus sentiment is that the market at worst is heading slightly lower and at best sharply higher.
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Wall Street proved to be mostly unfazed by China's decision to raise reserve requirements on banks for the second time in 2011, the latest efforts by the Asian giant to prevent its economy from overheating. Some traders remain concerned China will be too aggressive in fighting in inflation, disrupting the global recovery. After a busy beginning of the week, there weren't any major economic or earnings reports released on Friday. However, traders were watching shares of tech titan Apple, which retreated after The Wall Street Journal reported U.S. regulators have begun to look at the terms it set this week for media companies to sell their content on the iPad and other devices. The report marks the latest antitrust scrutiny facing Steve Jobs-run Apple. Energy stocks had been the leaders but fell out of favor after crude oil took an afternoon dive. Crude settled down 16 cents a barrel, or 0.19%, to $86.20. Gold gained $3.50 a troy ounce, or 0.25%, to $1,388.20. Corporate Movers Campbell Soup (CPB: 33.57, -1.36, -3.89%) slumped 4% to 52-week lows after reporting in-line quarterly results, but slashing its full-year guidance. Campbell said it now sees EPS declining 1% to 3% in 2011, compared with its earlier view for a rise of 2% to 4%. Intel (INTC: 22.14, +0.18, +0.82%) unveiled plans to build a $5 billion chip factory in Arizona that the company said will be the most advanced, high volume semiconductor manufacturing facility in the world. Intel said the factory will create thousands of construction and permanent manufacturing jobs. Calpine (CPN: 14.81, +0.10, +0.68%) said it lost 5 cents a share as its revenue declined 4.7% to
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18-Feb-2011 FoxBusiness.com - Sea of Green: Stocks $1.47 billion last quarter. Analysts had called for EPS of 9 cents on $1.34 billion in revenue. Despite the red ink, Calpine stood by its 2011 guidance.
Global Markets The U.K.'s FTSE 100 slid 0.07% to 6082.99, Germany's DAX gained 0.29% to 7426.81 and France's CAC 40 advanced 0.12% to 4157.14. In Asia, Japan's Nikkei 225 closed up 0.06% to 10842.80, Hong Kong's Hang Seng soared 1.26% to 23595.20 and China's Shanghai Composite dropped 0.93% to 2899.79.
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FoxBusiness.com - Dow Leaps in February Finale
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Dow Leaps in February Finale

By Adam Samson Published February 28, 2011 | FOXBusiness Print Email Share Comments (1) Text Size FOX Business: The Power to Prosper The Dow closed out February in the green as an unexpectedly positive report on U.S. manufacturing restored confidence in the blue chips that were shaken by surging energy prices in the prior week. DJIA Nasdaq 12,226.34 2,782.27 +95.89 +0.79% +1.22 +0.04% S&P 500 1,327.22 +7.34 +0.56% Last Change % 940.42 +6.21 Change +0.66%
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Today's Markets The Dow Jones Industrial Average jumped 95.89 points, or 0.79%, to 12,226, the S&P 500 Index gained 7.34 points, or 0.56%, to 1,327, and the Nasdaq Composite Index edged higher by 1.22 points, or 0.04%, to 2,782. The FOX 50 was up 6.21 points, or 0.66%, to 940. Despite last week's volatility, major stock market averages gained in February. The broad S&P 500 index jumped 3.2% in February, the Nasdaq was up 3% and the Dow added 2.8%.
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Word that several companies are looking to take advantage of buying opportunities and making multi-billion dollar deals was largely regarded as a positive sign for the economy by market participants. Ventas (VTR: 55.43, 0.00, 0.00%), for instance, said it reached a deal to acquire Nationwide Health Properties (NHP: 42.71, 0.00, 0.00%) for $5.8 billion. Traders also closely eyed oil prices that surged 9.1% in the prior week, sparking fears that high energy prices would put a damper on the global economic recovery. Fears that political unrest in oil-producing Libya would spread to larger oil producers, namely Saudi Arabia, sent oil flying past the $103 threshold in the prior week. "The market is clearly in a play it by ear mode on what comes next both in terms of the Middle East and sustainability of this spike [in oil prices] and what, if sustained, this will do to the global economy," wrote Peter Boockvar, managing director at Miller Tabak + Co., in a research note. The U.S. urged its European allies Monday to enforce sanctions on the North African country as forces backed by leader Muammar al-Qaddafi continued clashing with opposition fighters. Crude settled lower by 91 cents to $96.97 a barrel after jumping to more than $100 overnight. Oil made its biggest-monthly leap since December 2010, surging $4.78, or 5.2%, in February. Even consumers, who play an important part in economic health, paid more at
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the pump at the end of February. According to the AAA's Daily Fuel Gauge Report, drivers paid $3.37 a gallon for regular gas on average Monday as compared with $3.10 a month ago. On the economic front, manufacturing activity made a surprising jump in February, according to the Chicago Federal Reserve. The Chicago PMI index jumped from 68.8 in January to 71.2 in February, beating economists' expectations that the measure would inch lower to 67.5. The National Association of Business Economists boosted its estimates for year-over-year domestic growth in 2011 from 2.6% in November to 3.3% in February. Personal income jumped a more-than-expected 1% in January, according to the Commerce Department. A large portion of the gain in income can be attributed to government tax programs meant to ease consumers' tax burden amid difficult economic conditions, the report said. Economists were expecting this gauge of strength in the consumer sector to have increased 0.4% in January. However personal spending only increased 0.2% in January, less than the 0.4% analysts were expecting, possibly indicating consumers are still worried to make purchases. Consumer discretionary companies such as Best Buy (BBY: 32.25, 0.00, 0.00%) and Tiffany & Co. (TIF: 61.57, 0.00, 0.00%) could be affected by consumers' propensity to save or spend money. Contracts for sales of previously-occupied homes dropped by a more-thanexpected 2.8% in January. Analysts saw the gauge of strength in the housing market falling 2.2% for the month. In currencies, the euro gained 0.32% on the U.S. dollar, and the greenback was up 0.11% against the Japanese yen. Metals were largely higher on the day, but bounced back from session highs. Gold settled up 60 cents to $1,409 per troy ounce. Gold was up $75.50, or 5.66%, for the month of February. Corporate Movers 3M (MMM: 92.37, 0.00, 0.00%) was one of Monday's best performers as a report from Barron's saying the manufacturer's earnings would rise 60%, coupled with a ratings boost from Standard and Poor's, gave shares a boost. Salesforce.com (CRM: 132.57, 0.00, 0.00%) shares plummeted 6% Monday, giving back some of the 91% year-over-year gain the contact management company has seen. JPMorgan Chase (JPM: 46.70, 0.00, 0.00%) is in talks to acquire a small stake in booming social networking site Twitter, according to a report by the Financial Times. Humana (HUM: 65.05, 0.00, 0.00%) was one of the top-performing S&P 500 components after Standard & Poor's boosted the insurer's rating from hold to buy. Apple (AAPL: 353.26, 0.00, 0.00%) bucked the downward trend for technology stocks, climbing 1.4%. The technology-behemoth is widely expected to release the next revision of its popular iPad at a press event on Wednesday. Berkshire Hathaway chief Warren Buffet wrote in an annual letter to shareholders that the holding company -- which owns firms like reinsurance-giant General Re -- is looking to make "major acquisitions" to add to income the company earns from its current holdings. Dril-Quip Inc. (DRQ: 76.76, 0.00, 0.00%) swung to a 28% fourth-quarter loss, with profits of 52 cents per share -- far below analysts' expectations of 71 cents. Shares of the offshore driller tumbled in trading on Monday. Blackstone Group (BX: 17.80, 0.00, 0.00%) -- the world's largest private equity firm -- has reached a deal to purchase Centro Properties Group's portfolio of shopping malls for $9.4 billion, according to a report by The Wall Street Journal. Foreign Markets In Europe, the English FTSE 100 swung lower by 0.12% to 5,994, the French CAC 40 jumped 0.98% to 4,110 and the German DAX increased by 1.21% to 7,272. Asian markets were mostly higher, the Japanese Nikkei was higher by 0.92% to 10,624 and the Chinese Hang Seng spiked 1.4% to 23,338.
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Sensex shoots up 623 points in post-Budget rally; auto leads
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The Hindu Traders at the Cochin Stock Exchange cheer the upward trend in the markets. Photo: H. Vibhu
In a post-Budget rally, the BSE benchmark Sensex today shot up 623 points - the biggest single day gain in 21 months - to close at 18,446.50, as led by auto stocks funds bought blue-chips at lower levels amid positive global cues. As the market turned bullish, all the 30-BSE index scrips as well as the 13 sectoral indices closed with gains. Markets also got a boost following reports of higher export growth numbers and strongest expansion in three months in the six core infrastructure sectors during January. The Bombay Stock Exchange benchmark Sensex, which gained nearly 200 points in last two trading sessions, recorded a whopping rise of 623.10 points to close at 18,446.50, its biggest single day jump since May, 2009. Similarly, the broad-based National Stock Exchange index Nifty spurted by 189.05 points to 5,522.30 following a rise in stocks of auto, bank, realty and capital goods. The rally was led by handsome gains in auto stocks as monthly sales figures poured in, and governments decision to keep the excise duty unchanged. Besides, a firming trend in the Asian region and higher opening in Europe fuelled the market sentiment. There was a sharp upsurge in the US markets on hopes of strong economic recovery. Marketmen said trading sentiment was bolstered after the budgetary proposals said the country will narrow its deficit to 4.6 per cent of GDP in 2011-2012. The auto sector index gained the most by rising 5.64 per cent to 8,718.22, followed by banking index by 4.35 per cent to 12,355.22. The realty sector shot up by 4.20 per cent to 2,064.81 and capital goods index by 4.19 per cent to 12,918.87. As the buying activity spilled over a wide-front, midcap index rose by 3.20 per cent to 6,577.29 and smallcap index by 2.38 per cent to 8,003.06. Keywords: sensex, markets, BSE
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FoxBusiness.com - Bulls Seize the Day: Stocks Gain as Oil Stabilizes
http://www.foxbusiness.com/markets/2011/03/02/foreign-markets/
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Bulls Seize the Day: Stocks Gain as Oil Stabilizes

By Adam Samson Published March 03, 2011 | FOXBusiness Print Email Share Comments (23) Text Size FOX Business: The Power to Prosper Upbeat economic data, and slipping oil prices, sparked a broad rally Thursday, lifting the blue chips to their biggest percent gain since December. Reuters Today's Markets Are There Competitors to the iPad 2? The Dow Jones Industrial Average climbed 191 points, or 1.59%, to 12,258, the S&P 500 gained 22.53 points, or 1.72%, to 1,330 and Nasdaq Composite Index tracked higher by 50.67 points, or 1.84%, to 2,798. The FOX 50 was up 13.11 points, or 1.41%, to 942. Every major sector advanced, with industrial stocks (XLI: 37.28, 0.00, 0.00%) and financials (XLF: 16.73, 0.00, 0.00%) gaining the most. Indeed 28 out of 30 Dow components advanced Thursday. Equipment-maker Caterpillar (CAT: 104.27, 0.00, 0.00%) and credit card company American Express (AXP: 44.27, 0.00, 0.00%) led the charge higher, while technology-giant HP (HPQ: 43.25, 0.00, 0.00%) and telephone company AT&T (T: 28.16, 0.00, 0.00%) stumbled. Initial jobless claims unexpectedly fell 20,000, to 368,000, in the prior week -the lowest level since May 2008, the Labor Department said. Economists were expecting claims to edge higher to 400,000. Crude settled lower by 32 cents, or 0.31%, to $101.91 a barrel, after surging 2.6% Wednesday. Prices came back from session lows after opposition forces in Libya rejected a proposal by Venezuelan President Hugo Chavez to peacefully end the strife that has pushed the oil-rich nation into turmoil. Volatility in crude markets -- accelerated by tumult in oil-producing countries like Libya and Iran -- has been driving equities amid concerns high energy prices would dampen the pace of global economic recovery. "The market seems to have entered a more manic phase of its cycle as the moves are getting a bit more violent in either direction following every tick in crude prices," wrote Peter Boockvar, managing director at Miller Tabak + Co. in a research note. The jobless claims report comes a day before the release of monthly unemployment numbers from the Labor Department. The national unemployment rate stood at 9.0% in January, far higher than the so-called natural unemployment rate that economists expect in a healthy economy. Productivity of U.S. workers was up 2.6% for the fourth quarter of 2011, beating expectations for a gain of 2.3%, according to a revised report by the Labor Department. This report "is good news for employment growth, which is likely to accelerate over the course of the next few quarters," wrote Nariman Behravesh, chief economist at IHS Global Insight in a research note. Also on the economic front, the European Central Bank [ECB] said Thursday that it would keep short-term interest rates at record-low 1%. ECB President, Jean-Claude Trichet, said it "is possible" the central bank could hike rates at its LAST 5 STOCKS DJIA Nasdaq 12,258.20 2,798.74 +191.40 +1.59% +50.67 +1.84% S&P 500 1,330.97 +22.53 +1.72% Last Change % 942.03 +13.11 Change +1.41%
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next meeting. Monetary authorities, such as the U.S. Federal Reserve and the ECB, reduce interest rates in a bid to spur economic growth. However, with low interest rates comes the risk of increasing inflationary pressure. Recent data, including the Fed's beige book released Wednesday, suggest price inflation remains largely under control domestically. In metals markets, gold gave back some of its steep gains from earlier in the week, tumbling $21.20, or 1.48%, to $1,416 a troy ounce, after settling at a record high Wednesday. The U.S. dollar edged 0.13% lower against a basket of world currencies, as the euro gained 0.60% on the greenback. Sales results among top retailers were largely higher in February, but fears about the toll high energy costs could take on already cash-strapped consumers looms for March and April. Overall, chain-store-sales, excluding Wal Mart, which isn't included in the report, jumped 4.2% on a year-over-year basis, the International Council of Shopping Centers said. Macy's (M: 23.63, 0.00, 0.00%) same-store-sales jumped 5.8%, far exceeding Wall Street's expectations for an increase of 3.7%. Target (TGT: 52.10, 0.00, 0.00%) said its same-store-sales edged higher by 1.8%, missing analysts' estimates for a gain of 2.2%. Corporate Movers Banco Santander (STD: 11.96, 0.00, 0.00%) is reportedly mulling a joint bid for CitiFinancial, the consumer-finance unit put on the block by Citigroup (C: 4.68, 0.00, 0.00%), according to a report by The Wall Street Journal. Chrysler is recalling more than 248,000 vehicles because of potential engine shutoff issues. Heinz (HNZ: 49.60, 0.00, 0.00%) has reached a deal to take an 80% stake in Brazilian food-maker Coniexpress S.A. Industrias Alimenticias. Valero (VLO: 28.97, 0.00, 0.00%) was one of the top performing issues on the S&P 500 after the oil refiner boosted its outlook. The company expects to benefit from the increasing spread between the price of West Texas Intermediate crude and oil from the Gulf Coast. Big Lots (BIG: 41.24, 0.00, 0.00%) unveiled fourth quarter earnings of $1.46 a share, a gain of 4.5%, besting analysts' estimates of $1.38. Wendy's / Arby's Group's (WEN: 5.11, 0.00, 0.00%) shares surged more than 7%, after the company said it expects sales at its Wendy's fast food chain to grow, and announced plans to unload its under-performing Arby's restaurants. Foreign Markets Foreign markets were mostly higher Thursday. In Europe, the English FTSE 100 jumped 1.5% to 6,005, the French CAC 40 was up 0.66% to 4,060, and the German DAX climbed 0.62% to 7,225. Asian markets rallied as well: the Japanese Nikkei 225 increased 0.89% to 10,586 and the Chinese Hang Seng edged higher by 0.32% to 23,122. Print Email Share Comments (23) ALSO ON THE WEB Chinas Message to U.S. Businesses (OPEN Forum) Beware of the Granny Scam (BankRate.com) Best way to pay off a mortgage (Bank Rate) 7 Reasons to Worry About Next Week (The Motley Fool) These 1-Star Stocks Are 5-Star Stocks in Disguise (The Motley Fool) [what's this] Text Size
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The BSE Sensex snapped its two-day decline and gained over 265 points on buying in fundamentally strong stocks like RIL and Infosys, as fall in crude oil prices and lower-than-expected inflation improved the market sentiment. The Bombay Stock Exchange benchmark index Sensex, which had lost 295 points in the last two sessions, bounced back by 265.39 points to 18,439.48. The broad-based National Stock Exchange index Nifty jumped by 86.05 points to 5,531.50 on the back of a fresh rise in the two most heaviest-weighted stocks of Reliance Industries and Infosys Technologies. Reliance rose to a two-month high, gaining Rs 26.05 to Rs 1,017.65 as lower cost of crude improved the prospects of its profitability. Infosys, the largest software exporter, rose Rs 44.80 to Rs 3,099.25. The two stocks carry nearly 23 per cent weightage on the 30-stock barometer Sensex. Inflation rose only marginally to 8.31 per cent during February from 8.23 per cent in the previous month. Brokers said it was lower than the projections and reduced the worries of a steep hike in interest rates that hit corporate profits. They said crude oil declined to the lowest level in two weeks on anticipation that the earthquake in Japan will reduce the demand for the time being. Indian Oil, the largest refiner, rose Rs 4.70 to Rs 309.90, Bharat Petroleum up by Rs 23.85 to Rs 570.50 and Oil India gained Rs 9.35 to Rs 1,280.10. The Oil and Gas sector index gained the most by rising 2.24 per cent to 9,936.95, followed by the Metal sector index by 2.01 per cent to 15,676.33 as Tata Steel rebounded from a six-month low. The IT index rose 1.48 per cent to 6,240.78, Banking index 1.36 per cent to 12,358.31, Power index 1.27 per cent to 2,586.58 and Teck index by 1.26 per cent to 3,642.93. In the 30-BSE index components, 25 stocks closed with gains, four ended with losses while BHEL remained unchanged at Rs 1,974.70. Keywords: Sensex, opening trade
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Bulls' Blitz Overcomes Soaring Energy Prices - FoxBusiness.com
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Bulls' Blitz Overcomes Soaring Energy Prices

By Adam Samson Published March 17, 2011 | FOXBusiness Print Email Share Comments (0) DJIA Nasdaq 11,774.59 2,636.05 +161.29 +1.39% +19.23 +0.73% FOX Business: The Power to Prosper Soaring energy prices couldn't deter a data-fueled rally that abruptly halted a three-day rout, which had pushed the Nasdaq and S&P 500 into negative territory for 2011. S&P 500 1,273.72 +16.84 +1.34% Last Change % 898.58 +11.08 Change +1.25%
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Today's Markets The Dow Jones Industrial Average was higher by 161 points, or 1.4%, to 11774, the S&P 500 climbed 16.8 points, or 1.3%, to 1273 and the Nasdaq Composite was up 19.2 points, or 0.7%, to 2636. The FOX 50 jumped 11.1 points to 899. The blue chips had their worst day since August on Wednesday, tumbling 2% amid concerns over the unfolding nuclear situation in Japan. The broad selloff also pushed the Nasdaq and S&P 500 into negative territory for 2011.

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Airbus Under Investigation Over 2009 Crash Japanese Engineers Aim to Restore Power to Avert Catastrophe Visa Jumps on Personto-Person Payment Bandwagon, Taking on PayPal Big Retailers Prod Amazon.com on Sales Tax Credit Suisse: Apple to Soar to $500 Upbeat data on the jobs market helped stocks rebound Thursday. The energy sector performed the best Thursday, with companies like ExxonMobil (XOM: 81.15, +1.78, +2.24%) and Peabody Energy (BTU: 70.11, +2.44, +3.61%) gaining significantly. Utilities like nuclear-plant operator Entergy (ETR: 65.45, -1.18, -1.77%) lagged behind. Even though the Dow didnt recover all of its losses from [Wednesday], the rebound today suggests investors were emboldened by President Obamas comments as well as the favorable U.S. jobs and manufacturing reports," wrote John Prestbo, executive director and editor at Dow Jones Indexes. Weekly jobless claims were lower by 16000 to 385000 in the prior week. The four-week-moving average, a figure that helps smooth volatility, has been below the 400000 threshold for three straight weeks. A reading below 400000 points to at least some level of recovery in the beleaguered labor market, economists say. However, the situation in Japan remains volatile, and has driven stocks in recent sessions. The markets can "turn around in a minute," said Joe Saluzzi, co-manager of trading at Themis Trading, citing recent headline-driven tumult.
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Radiation continued seeping out of at least two stricken nuclear reactors that were damaged in the massive earthquake that hit the Japan last week. Emergency workers raced to cool the cores down, but it remained unclear Thursday whether their attempts would be successful at averting a catastrophe. U.N and American nuclear officials said the situation remained serious, but had stabilized somewhat.
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Uncertainty over the conditions in Japan prompted the U.S. government to urge its citizens to leave the country and avoid unnecessary travel there. Indeed, the U.S. chartered private airplanes to aid in the evacuation process. Japan's Nikkei 225 average, which has been extraordinarily volatile in recent sessions, slid 1.4% amid concerns over how long it would take for the Japanese economy to recover after the disaster. The yen soared 1.9% against the U.S. dollar as Japanese investors sold American assets in a bid to pay for rescue and rebuilding efforts back home. A higher exchange rate makes it more expensive for companies to import Japanese goods, which could pose a problem as the Japanese economy recovers. Continued clashes in numerous Middle Eastern countries have overshadowed worries over Japan's demand for oil, pushing prices higher. Security forces in oil-producing Bahrain participated in what U.S. Secretary of State Hillary Rodham Clinton described as an "alarming" crackdown on political protests. "The North Africa and Middle East situation is starting to come to the forefront again," said Darin Newsom, senior commodities analyst at DTN. "The money that left [the oil markets] in such a rush over the last week is starting to come back." Light, sweet crude jumped $3.44, or 3.5%, to $101.42. A gallon of regular gas cost $3.55 on average nationwide, up from $3.12 last month and $2.79 last year, according to the AAA Fuel Gauge Report. Soaring energy prices pushed consumer inflation up 0.5% in February -- the most since June 2009, according to the Labor Department. Core inflation, which excludes volatile food and energy prices, edged higher by 0.2%. Economists have been paying particularly close attention to price levels since the Federal Reserve has embarked on a highly expansionary monetary policy regime in a bid to jump-start the U.S. economy. While the central bank's low-interest-rate policy, coupled with a trillion-dollar asset purchase program, can provide a boost to the economy, some economists worry it can lead to high levels of long-term inflation. If consumer prices rise, economists worry, peoples' wage expectations could rise, which leads to wage inflation, a difficult situation to control. Manufacturing activity in the Mid-Atlantic region saw its biggest gains since 1984 in March. The Federal Reserve Bank of Philadelphia said its manufacturing index jumped to 43.4 from 35.9 in the prior month. Economists were expecting the index to drop to 28.8. However, the reading doesn't take into account the disaster that hit Japan, the world's third largest economy. The situation "will change in light of the aftermath of the Japanese earthquake and its inevitable impact on global economic activity but at least we know the state of American manufacturing in this region was on good footing," wrote Peter Boockvar, Managing Director at Miller Tabak + Co., in a research note. In metals, gold increased by $7.10, or 0.51%, $1403 a troy ounce. Corporate Movers General Motors (GM: 31.45, -0.35, -1.10%) declared a 59.4 cents per share dividend on its preferred stock. Separately, the automaker said it would have to temporarily stop production of its Chevy Colorodo and GMC Canyon lines due to a lack of parts coming from Japan. Apple (AAPL: 333.88, +2.41, +0.73%) received a $500 a share price target from Credit Suisse. FedEx (FDX: 87.89, +2.60, +3.05%) revealed its fiscal third-quarter earnings edged 3.3% lower, but said expects fourth-quarter profits to hit between $1.66 to $1.83 a share, besting analysts' calls for $1.65 a share. Shares of the shipping company moved sharply higher. Vodafone (VOD: 27.65, +0.86, +3.21%) was upgraded from "reduce" to "neutral" by Evolution Securities, pushing shares of the mobile telecommunications company. Wal-Mart (WMT: 51.36, -0.02, -0.04%), Target (TGT: 50.36, -0.32, -0.63%) and other retailers are pushing regulators to force Amazon.com (AMZN: 160.96, -3.84, -2.33%) to charge sales tax, according to a report by The Wall Street Journal. The online retailer presently only has to charge tax in the five states in which it has a physical presence.
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Hewlett Packard (HPQ: 41.41, +1.26, +3.14%) was rated an "outperform" by Credit Suisse. Foreign Markets European shares soared: the English FTSE 100 was up 1.8% to 5,696, the French CAC 40 traded higher by 2.4% to 3786 and the German DAX jumped 2.2% to 6556. Chinese stocks followed Japan lower, with the Hang Seng tumbling 1.8% to 22284.
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Market Report - Mar. 21, 2011 - CNNMoney.com
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Stocks rally for third day, Dow jumps 178
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Stocks spiked at the open Monday, and remained steadily higher throughout the session. Investors rallied on positive news regarding Japan's nuclear crisis, as well as AT&T's $39 billion deal to acquire T-Mobile USA. Shares of AT&T (T, Fortune 500) and Verizon Communications (VZ, Fortune 500) closed up more than 1%, although both companies pared back some of their earlier gains. "Mergers are always a shot of adrenaline for investors, because it shows that corporate insiders still see value, despite this two-year bull market," said Fred Dickson, chief market strategist at D.A. Davidson & Co. Shares of AT&T's smaller competitor Sprint Nextel (S, Fortune 500), which had been reported to be in talks with Deutsche Telekom, fell 14%, making it the worst performer on the S&P 500. Aside from corporate news, investors continue to react to developments in Japan and Libya. Over the weekend, Japanese engineers made progress in cooling nuclear reactors that had overheated, following the devastating earthquake and tsunami that struck the country March 11. Meanwhile, turmoil in North Africa heated up. The United States and its allies launched an airstrike on Libyan military targets Monday, in an effort to subdue forces of Libyan leader Moammar Gadhafi. Oil prices jumped more than $1 a barrel in electronic trading, following the attack. (CNN.com coverage of Libya)
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"The fear of a Middle East contagion and a horrible nuclear calamity in Japan has abated, and the good news is that the economy and market fundamentals have returned to the forefront," said Paul Zemsky, head of asset allocation with ING Investment Management. March Stock Mania: Ford topples Apple U.S. stocks ended higher Friday, but the ongoing turmoil in Japan led indexes to end lower for the week. Economy: The National Association of Realtors said existing home sales fell to an annual rate of 4.88 million in February, which was much lower than the 5.05 million most economists forecasted. Companies: Citigroup (C, Fortune 500) shares fell 1.6% after the bank announced a 1-for-10 reverse stock split and said it plans to reinstate its quarterly dividend. Tiffany & Co. (TIF) shares rose 5% after the luxury retailer reported a stronger-than-expected profit. World markets: European stocks closed broadly higher. The DAX in Germany gained 2.3%, France's CAC 40 rose 2.5%, and Britain's FTSE 100 added 1.2%. Asian markets ended higher. The Shanghai Composite ticked up less than 0.1%, while the Hang Seng in Hong Kong added 1.7%. Japanese markets were closed for a national holiday. Currencies and commodities: The dollar gained against the euro and the Japanese yen, but was flat versus the British pound. Gold futures for April delivery rose $10.30, or 0.7%, to $1,426.40 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.35% from 3.26% late Friday.
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US Indexes Markets Dow Nasdaq S&P 500 Treasuries U.S. Dollar symbol Last 12,036.53 2,692.09 1,298.38 3.32 1.42 Market Movers Change 178.01 48.42 19.18 0.05 0.00 % Change 1.50% 1.83% 1.50% 1.40% 0.01%
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Merger Monday: AT&T Buy Ignites Rally - FoxBusiness.com
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Merger Monday: AT&T Buy Ignites Rally

By Adam Samson Published March 21, 2011 | FOXBusiness Print Email Share Comments (1) DJIA Nasdaq 12,036.53 2,692.09 +178.01 +1.50% +48.42 +1.83% FOX Business: The Power to Prosper Multiple notable acquisitions, including AT&T's $39 billion deal to buy T-Mobile, fueled broad gains for Wall Street. Reuters Today's Markets S&P 500 1,298.38 +19.18 +1.50% Last Change % 913.19 +11.93 Change +1.32%
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The Dow Jones Industrial Average was up 178 points, or 1.5%, to 12037, the S&P 500 climbed 19.2 points, or 1.5%, to 1298 and the Nasdaq Composite was higher by 48.4 points, or 1.8%, to 2692. The FOX 50 gained 11.9 points to 913. The Dow, S&P and the Nasdaq are on their best three-day winning streak since September 3, rebounding from steep losses in the beginning of last week. News that the volatile nuclear crisis in Japan stabilized somewhat helped instill a sense of confidence in the markets. Indeed, workers were able to connect external power to two of the stricken reactors, raising hopes that a full meltdown wouldn't take place.

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AT&T's (T: 28.35, +0.42, +1.50%) plans to acquire Deutsche Telekom's T-Mobile USA unit in a $39 Apollo Sees IPO billion cash-and-stock deal lifted stocks. The Pricing at $17-$19 a merger, if approved, would create the biggest Share mobile provider in the U.S. Shares of rival-provider GM Temporarily Halts Sprint Nextel (S: 4.38, -0.67, -13.27%) plummeted Some Production at NY more than 10%. Plant Also on the mergers and acquisitions front, Charles Citi to Resume Schwab (SCHW : 17.64, +0.08, +0.46%) is buying Dividend, Conduct Optionsexpess (OXPS: 17.85, +2.52, +16.44%) for Reverse Split $17.91 a share, or roughly $1 billion.
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Traders weren't deterred by oil prices that soared amid continued instability in North Africa and the Middle East. U.S. and coalition forces slammed Libyan leader Muammar al-Qaddafi's air defenses over the weekend and into Monday, clearing the way for further action, in accordance with the U.N. resolution to protect civilians in the oil-producing country. The situation in Yemen remained tense after the government violently cracked down on anti-government protesters, killing and injuring civilians, according to media reports. Light, sweet crude jumped $1.26, or 1.3%, to $102.33 a barrel. The price for a gallon of regular gas was $3.55 on average, up from $3.16 last
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month and $2.82 last year, according to the AAA Fuel Gauge Report. Prices have spiked in recent weeks as traders have priced in the risk of volatility spreading to larger oil producers, such as Saudi Arabia. Sales of previously-occupied homes plunged 9.6% to an annualized rate of 4.88 million in February from January, far weaker than economists' expectations for a drop of 4%. The report by the National Association of Realtors also showed the median home price sinking 5.2% to 156,100 -- the lowest level since April 2002. "This was a disappointing report, but part of the decline may be attributed to some payback after three months of steady gains," wrote Theresa Chen, an economist at Barclays Capital, in a research note. Difficult conditions in the mortgage markets are continuing to make it difficult for consumers to make real estate purchases, according to Chen. In the foreign exchange market, the euro gained 0.2% against the dollar and the greenback climbed 0.25% against the Japanese yen. Gold recently settled higher by $11.90, or 0.73%, to $1426 a troy ounce. Corporate Movers Microsoft (MSFT: 25.34, +0.49, +1.97%) filed actions against Barnes & Noble (BKS: 9.28, +0.37, +4.15%), Foxconn and Inventec saying the manufacturers infringed on the technology-giant's patents in Android devices. Royal Dutch Shell (RDS) garnered approval from U.S. regulators to drill three exploratory wells in the Gulf of Mexico. ConocoPhillips (COP: 77.54, +2.15, +2.85%) could sell as much as $20 billion worth of properties, according to a research note by Deutsche Bank. Apple (AAPL: 339.20, +8.99, +2.72%) shares jumped more than 2% on hopes the combination of AT&T and T-Mobile would boost the potential subscriber-base for its popular iPhones and iPads. Citigroup (C: 4.43, -0.06, -1.34%) plans on reinstating its quarterly dividend and announced a one-for-ten stock split, which will substantially reduce the outstanding common stock and increase the stock price. Tiffany & Co. (TIF: 60.22, +2.95, +5.15%) was a top performer on the S&P 500 after it posted a better-than-expected sales forecast of between $3.35 and $3.45 a share for the year. Nissan will resume manufacturing at all of its Japanese factories this week. Boeing's (BA: 71.22, +2.16, +3.13%) new 747-8, the largest commercial plane built by the aircraft maker, took flight for the first time Sunday. General Motors (GM: 31.26, -0.58, -1.82%) temporarily suspended production at one of its New York plants amid supply disruptions in the wake of the earthquake in Japan. Foreign Markets Major global averages were solidly in the green Monday. The Chinese Hang Seng was up 1.7% to 22685 and Japanese markets were closed for a holiday. In Europe, the English FTSE 100 climbed 1.2% to 5786, the French CAC 40 was higher by 2.5% to 3904 and the German DAX gained 2.3% to 6816. Print Email Share Comments (1)
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21-Mar-2011 7:19 PM
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21-Mar-2011 7:19 PM
The Hindu : Business / Markets : Sensex up 281 points; blue chips lead the...
Business Markets
Sensex up 281 points; blue chips lead the rally
PTI
The Hindu Private lenders ICICI Bank, HDFC Bank and Axis Bank were the star performers today.
The BSE Sensex was up for the second day in a row and closed at 18,206, up 218 points, led by blue chips like ICICI, Infosys and RIL as investors continued to buy stocks at lower levels in the absence of any major negatives from the Middle East and Japan. Besides, brokers said the worlds leading investor Warren Buffett gave positive comments on the Indian market that boosted sentiment. The market was also supported by stocks of sugar companies after government allowed exports of 500,000 metric tons of sugar. The Bombay Stock Exchange benchmark index Sensex, which had gained 149 points yesterday, shot up another 217.86 points to 18,206.16 with buying in realty, banking, healthcare and metal sectors. Similarly, the broad-based National Stock Exchange index Nifty rose by 66.40 points to 5,480.25, after touching the days high of 5,484.95, as investors looked for bargains in a market that has underperformed so far this year. The Sensex had slumped 11 per cent this year, the worst performer in Asia, on concerns that measures to curb price rise through high interest rates will limit growth. The financial stocks led the upward move after the government proposed changing laws to ease limits on voting rights of the largest shareholders in lenders. Private lenders ICICI Bank, HDFC Bank and Axis Bank were the star performers and gained significant ground. In the 30-BSE index components, 26 stocks ended higher, while four closed in losses. The two mostheaviest on the index, Reliance Industries and Infosys Technologies with their 23 per cent weightage witnessed sustained buying. Bajaj Hindustan, the largest sugar producer, Balrampur Chini, Renuka Sugar, Rajshree Sugar, Eid Parrys, Rajshree Sugar, Uttam Sugar and Dhampur sugar were higher and boosted the market sentiment. The realty sector index gained the most by adding 1.92 per cent to 2,118.77, followed by banking index by 1.85 per cent to 12,463.22. As the buying activity spilled over a wide front, midcap index rose by 0.92 per cent to 6,603.80 and smallcap index by 0.65 per cent to 7,868.13. Keywords: share markets, sensex
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23-Mar-2011 8:59 AM
The Hindu : Business / Markets : Sensex gains 145 points on stable oil pri...
Business Markets
Sensex gains 145 points on stable oil prices, firm global cues
PTI
The Hindu A view of the BSE building in Mumbai. File Photo
Sustaining its upward momentum for the third day, the BSE Sensex gained 145 points to close at over 18,350 on funds buying amid stable crude oil prices and firm stock markets globally. The Bombay Stock Exchange benchmark index Sensex, which climbed 367 points in the previous two sessions, advanced further by 144.58 points to end the day at 18,350.74. The broad-based National Stock Exchange index Nifty also rose 42.15 points to close at 5,522.40. It touched the days high of 5,529, led by Infosys Technologies, BHEL, Larsen and Tourbo, Tata Motors and Hero Honda. Trading sentiment firmed, led by realty, auto and capital goods. Oil eased a bit to USD 105.50 in the U.S., as high crude inventories crossed out the threat of supplies from the conflict-torn Middle East, especially Libya. Investors shrugged off the rise in food inflation, which crept back to double-digit at 10.05 per cent for the week ended March 12, from 9.42 per cent in the previous week. The rally was driven by realty sector index, with a surge of 2.83 per cent at 2,178.70 as Unitech shot up by 9.61 per cent to Rs. 40.50 on JPMorgan upgrading the stock. The auto sector index was second best performer by rising 1.40 per cent to 8,717.68 as Tata Motors added 1.65 per cent to Rs. 1,155.55, its highest closing since March 16. Mahindra and Mahindra, the sport-utility vehicle and tractor maker, advanced 2.88 per cent to Rs 664.35 after the company revealed plans to set up a plant in Andhra Pradesh. The capital goods sector index rose by 1.27 per cent to 12,735.02 after Bharat Heavy Electricals Ltd, the top power equipment maker, reached a two-week high by rising 2.82 per cent to Rs. 2,050.60. As the buying activity spilled over a wide-front, the midcap index rose by 0.78 per cent to 6,655.30 and smallcap index by 0.67 per cent to 7,920.84. Keywords: sensex, share markets
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24-Mar-2011 9:26 AM
Bullish Earnings, Jobless Data Boost Stocks - FoxBusiness.com
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Bullish Earnings, Jobless Data Boost Stocks

By Adam Samson Published March 24, 2011 | FOXBusiness Print Email Share Comments (1) DJIA Nasdaq 12,170.56 2,736.42 +84.54 +0.70% +38.12 +1.41% FOX Business: The Power to Prosper The markets rallied for a second day as bullish corporate news coupled with data pointing to improvement in the labor market buoyed traders' confidence. Reuters Today's Markets The Dow Jones Industrial Average jumped 84.5 points, or 0.7%, to 12171, the S&P 500 climbed 12.1 points, or 0.93%, to 1310 and the Nasdaq Composite gained 38.1 points, or 1.4%, to 2736. The FOX 50 was up 8.2 points to 921. Companies such as woman's-apparel-retailer Talbots (TLB: 5.89, +1.09, +22.71%) and Linux-developer Red Hat (RHT: 47.26, +7.29, +18.24%) reported better-than-expected results, prompting shares to soar on the day. Technology heavyweight Best Buy (BBY: 30.13, -1.72, -5.40%) didn't fare as well, revealing a worse-than-expected outlook for the new fiscal year. S&P 500 1,309.66 +12.12 +0.93% Last Change % 921.17 +8.22 Change +0.90%
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Initial claims for unemployment benefits fell to 382000 in the week ended March 19, from 387000 the week before. The four-week-moving average, which analysts generally consider a more useful metric because it helps mitigate short-run volatility, hit 385250 -- the lowest level since July 2008. Economists generally consider claims under the 400000 level signaling improvement. The labor market, which was dealt a strong blow by the economic downturn, has been recovering moderately, according to recent data. The blue chips shrugged off crude hitting its highest level since September 2008, new home sales sinking to record lows and a myriad of melancholy headlines from around the world and rose 0.56% on Wednesday. Technology and consumer discretionary issues, like Apple (AAPL: 344.97, +5.78, +1.70%) and Mattel (MAT: 25.26, +0.39, +1.57%) led the rally Thursday. Energy players such as ExxonMobil (XOM: 82.73, +0.13, +0.16%) lagged behind. Widespread tumult in several oil-producing countries continued shaking energy markets Thursday. Syrian security forces cracked down on protests across the country Wednesday and early Thursday, killing and injuring at least 15 people, according to media reports.
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In Libya, forces loyal to leader Muammar al-Qaddafi continued attacking civilians, despite a U.N. mandate. A coalition, including the U.S. and France, continued firing missiles and launching air strikes in a bid to quell the violence, per the U.N. Security Council resolution. Barring any damage to key oil ports and facilities, crude production might be
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offline for the next 12 to 18 months, according to reports by industry analysts. Light, sweet crude dipped 15 cents, or 0.14%, to $105.60. Prices at the pump averaged $3.55 for regular nationwide, up from $3.17 last month and $2.82 last year. The crisis in Japan that was sparked by the devastating earthquake and tsunami took another turn Thursday. Low levels of radiation was reported in food and water in Tokyo, igniting runs on water supplies. While there was still extensive damage to infrastructure, companies like Toyota (TM: 81.19, -0.95, -1.16%) and Nissan were slowly getting factories back online. Also on the economic front, the Commerce Department said durable goods orders slid 0.9% in February, missing economists' estimates for a gain of 1.1%, led by losses in machinery. In the currency market, the euro gained 0.66% on the U.S. dollar after dipping 0.51% in the prior session on concerns about euro zone sovereign debt. The situation in Portugal was particularly dire, with the chances of the country needing a bailout continuing to rise. Gold slipped $3.10, or 0.22%, to $1435. Corporate News Chevron (CHV: 8.14, +0.03, +0.37%) garnered regulatory approval to drill a complete deepsea exploratory well in the Gulf of Mexico -- the first company to get the green light since the BP disaster. Toyota (TM: 81.19, -0.95, -1.16%) is restarting production of three hybrid models after damage to Japanese infrastructure prompted the automaker to halt production at all 18 of its factories. Best Buy (BBY: 30.13, -1.72, -5.40%) said it earned $1.98 a share, excluding charges, in its fourth quarter, topping Wall Street's call for $1.85. Talbots (TLB: 5.89, +1.09, +22.71%) posted a fourth-quarter loss of 14 cents a share, better than the 18 cent loss analysts were expecting. Shares jumped more than 25% as a result. Red Hat (RHT: 47.26, +7.29, +18.24%) shares soared after the maker of a popular Linux distribution, an alternative to Microsoft's (MSFT: 25.81, +0.27, +1.06%) Windows and Apple's (AAPL: 344.97, +5.78, +1.70%) Mac OS X, reported its revenue jumped 25% to $244.9 million, from $236 million in the prior quarter. Walgreens (WAG: 39.95, +0.12, +0.30%) unveiled plans to acquire Drugstore.com (DSCM: 3.82, +2.02, +113.13%) for $429 million in an all-cash deal. GameStop (GME: 21.73, +0.62, +2.94%) revealed fourth-quarter earnings of $1.56 a share, narrowly beating expectations of $1.55 a share. The video-game retailer also said it expects to open 200 stores in 2011 and see its net sales increasing between 6% and 8% in the following quarter. Amazon.com (AMZN: 171.10, +5.78, +3.50%) was raised to an "outperform" by analysts at William Blair, sending shares of the online retailer sharply higher. Foreign Markets In Asia, the Japanese Nikkei edged lower by 0.15% to 9435 and the Chinese Hang Seng was up 0.39% to 22915. European markets were mostly higher: the English FTSE 100 was up 1.5% to 5881, the French CAC 40 jumped 1.4% to 3969 and the German DAX soared 1.9% to 6934. Print Email Share Comments (1)
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24-Mar-2011 8:22 PM
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24-Mar-2011 8:22 PM
The Hindu : Business / Markets : Sensex surges 465 points on firm global cues
Business Markets
Sensex surges 465 points on firm global cues
PTI
The Hindu A view of the BSE building in Mumbai. File Photo: Shashi Ashiwal
The BSE Sensex shot up 465 points today to 18,815.64, a 2-month high, on aggressive buying in blue-chips led by software companies on firm global cues as hopes of strong economic growth world-wide resurfaced. The Bombay Stock Exchange benchmark index, Sensex, which had gained 512 points in the last three trading sessions, surged 464.90 points to close the day at 18,815.64, a level last seen on January 25. Similarly, the broad-based National Stock Exchange index Nifty rose by 131.85 points to 5,654.25, after touching the days high of 5,667.10. There was heavy buying in IT, teck, realty and banking stocks. Asian equities rose, with the regions benchmark MSCI Asia Pacific Index recording the biggest weekly gain since November, as the US Labour Department figures showed the number of Americans filing applications for unemployment benefits has fallen. It raised hopes of sustained economic recovery. Besides, market players said that technology exporters across Asia got a boost from Oracle results. The USbased supplier of database software, reported third-quarter profit that beat market estimates. Infosys, the countrys second-largest software exporter shot up 5.23 per cent to Rs 3,162; Wipro, by 3.68 per cent to Rs 455.85 and Tata Consultancy, the largest software firm, by 2.26 per cent to Rs 1,118.20. The IT sector index gained the most by rising 4.02 per cent to 6,344.62, followed by Teck index -- up 3.49 per cent at 3,729.29. Higher opening in European stock markets further fuelled the trend. Meanwhile, brokers said the market is expecting better earnings for the fourth quarter. The results will start pouring in from next month. The Banking index rose by 2.72 per cent to 12,926.07 and recently most beaten realty sector by 2.72 per cent to 2,237.87. As the buying activity picked up, the smallcap index rose by 1.02 per cent to 8,001.63 and midcap index by one per cent to 6,721.56. Keywords: BSE, NSE, Sensex Nifty, global cues
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25-Mar-2011 7:45 AM
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Bull Run: Stocks Post Big Weekly Gain

By Adam Samson
Published March 25, 2011 | FOXBusiness Print Email Share Recom m end
MARKET SNAPSHOT
Get Quote
12
DJIA
12,220.59
+50.03 +0.41% +6.64
Nasdaq
2,743.06
+0.24% +4.14
S&P 500
1,313.80
+0.32%

Last Change % Change
Optimistic corporate news and encouraging data on the U.S. economy propelled the blue chips 3% higher for the week. Today's Markets The Dow Jones Industrial Average was up 50 points, or Reuters 0.41%, to 12,220, the S&P 500 climbed 4.1 points, or 0.32%, to 1,314 and the Nasdaq Composite gained 6.6 points, or 0.24%, to 2,743. The FOX 50 was up 2.7 points to 924. "Economic recovery took center stage, and brought with it a rally," said John Prestbo, executive director and editor at Dow Jones Indexes. Major market averages advanced considerably this week. The Dow jumped 3.1%, the S&P 500 gained 2.7% and the Nasdaq soared 3.8%. Companies like enterprise-software-giant Oracle (ORCL: 32.64, +0.50, +1.56%), consulting-firm Accenture (ACN: 54.29, +2.33, +4.48%) and Red Hat (RHT: 46.34, -0.92, -1.95%), the maker of popular Linux software, reported better-than-expected earnings this week. The broad markets shrugged off disappointing results from Research in Motion (RIMM: 56.89, -7.20, -11.23%) and Best Buy (BBY: 29.22, -0.91, -3.02%) that sent shares of those issues tumbling. The U.S. economy expanded at an annualized rate of 3.1% in the fourth quarter of 2010, a faster pace than the Commerce Department initially estimated. Wall Street had been expecting a gain of 3%. The report on Gross Domestic Product is a lagging indicator that doesn't take into account the effects of soaring energy prices in the first quarter of 2011. "While consumer and business spending were both strong in the last quarter of 2010, they have already shown some signs of weakness," wrote Nariman Behravesh, chief economist at IHS Global Insight, in a research note.
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Also on the economic front, consumer sentiment dropped to its lowest level in a year, according to a survey by Thomson Reuters and the University of Michigan. Surging food and energy prices led to most of the weakness, according to the report. Consumers' one-year inflation expectations were steady at an elevated 4.6%. Economists have been keeping a close eye on inflation expectations after the Federal Reserve has embarked on a highly expansionary, but potentially inflationary, monetary policy regime. If expectations for future prices, and therefore the price of living, dramatically increase there is a possibility that consumers will request higher wages. Oftentimes when inflation finds its way into the wage rate, it becomes difficult to fight. The Federal Reserve is likely to reign in its highly expansionary asset-buying program, fearing it might heighten long-term inflation expectations, according to statements by several top central bank officials on Friday. Energy prices have gyrated in recent sessions as traders eye the situation in North Africa and the Middle East.
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A combination of NATO and American forces continued slamming Muammar al-Qaddafi's military in Libya. The coalition started bombing Qaddafi's forces over the weekend after the U.N. Security Council gave the go-ahead to protect civilians from violence. Unrest continued in several oil-producing Middle Eastern countries on Friday. Syrian security forces cracked down on protests, killing at least twenty, according to a report by Al Jazeera, citing witnesses on the ground. In Yemen, President, Ali Abdullah Saleh, agreed to step down as long as power could be transferred to "clean hands," sources told FOX News. However, thousands still marched in rallies opposing Saleh. Sporadic protests in Bahrain's "Day of Rage" were quickly quashed by an enormous presence of pro-government forces. Despite the slew of charged headlines, oil was relatively tame on the day. Light, sweet crude edged lower by 20 cents, or 0.19%, to $105.40, but jumped 3.5% on the week as traders mulled increased risk of supply disruptions in the Mideast and North Africa. "Everything took a deep breath here at the end of the week," said Darin Newsom, senior commodities analyst at DTN. However, Newsom warns that "if we see this sort of [geopolitical tumult] over the weekend it can come back into play next week." Consumers paid $3.56 for a gallon of regular gas on average nationwide, up from $3.19 last month and $2.81 last year. In the foreign exchange markets, the euro edged 0.64% lower against the U.S. dollar and the greenback gained 0.34% against a basket of world currencies. Currencies have been particularly volatile in recent sessions as traders consider the impact of sovereign debt fears across the Eurozone, particularly in Portugal, where a bailout seems likely, according to analysts. Gold traded lower $8.70, or 0.61%, at $1426 a troy ounce. Corporate News
25-Mar-2011
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General Motors (GM: 31.47, +0.08, +0.25%) plans on resuming production at its Louisiana pickup truck facility and upstate New York engine factory after halting operations due to part shortages from Japan. Bristol-Myers Squibb (BMY: 27.29, +0.86, +3.25%) garnered approval for Yervoy, which was found to extend the life of patients with melanoma, a deadly type of skin cancer. Ford (F: 15.01, -0.03, -0.20%) told dealers to halt orders of cars in "tuxedo black" and three shades of red amid shortages of pigment from Japan. Eastman Kodak (EK: 3.40, +0.27, +8.63%) soared more than 8% after the company's Chief Executive Officer said the company could stand to gain $1 billion if it wins a patent claim against Apple (AAPL: 351.54, +6.57, +1.90%) and Research in Motion (RIMM: 56.89, -7.20, -11.23%). Apple's (AAPL: 351.54, +6.57, +1.90%) iPad 2 goes on sale in 25 global markets today. Google (GOOG: 579.74, -7.15, -1.22%) pushed back the release of the source code of its Android Honeycomb operating system, as it works to optimize the software. Foreign Markets Global shares drifted between positive and negative territory Friday, but closed modestly in the green. The English FTSE 100 rose 0.34% to 5,900, the French CAC 40 climbed 0.09% to 3,972 and the German DAX was higher by 0.18% to 6,946. In Asia, the Japanese Nikkei soared 1% to 9,536 and the Chinese Hang Seng jumped 1.1% to 23,159.
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The Hindu : Business / Markets : Sensex reaches two-month high on easing...
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Sensex reaches two-month high on easing oil price
PTI
The Hindu Brokers said sustained buying by funds and retail investors in stocks with strong fundamentals amid expectations of better Q4 earnings mainly influenced the trading sentiment. File photo
The BSE Sensex on Monday climbed to two month high of 18,943.14, up 127 points, on brisk buying in blue-chips led by banking as drop in crude oil prices eased inflationary concerns. The Bombay Stock Exchange benchmark index Sensex, which had gained 976 points in the last four trading sessions, shot up by another 127.50 points to end the day at 18,943.14 a level last seen on January 25. Intraday, the gauge crossed the crucial 19,000level. The broadbased National Stock Exchange index Nifty rose 33 points to 5,687.25, after touching the days high of 5,709.10. The upsurge was led by banking and interest sensitive stocks as a drop in crude oil prices eased concerns of inflation and a further hike in interest rate. Oil fell for the third day in New York, down 54 cents to 104.86 dollar a barrel. Brokers said that higher openings in European stock markets, on signs that the US economy is improving, also supported the sentiment. The US economy grew at 3.1 per cent annual rate in the fourth quarter, led by a jump in consumer spending. However, the two mostheaviest stocks with 23 per cent weightage in the Sensex Reliance Industries and Infosys Technologies fell and capped the gains. The banking sector index rose by 1.21 per cent to 13,081.84 as stocks of State Bank of India, ICICI Bank, HDFC Bank, Bank of India and Yes Bank recorded smart gains. The interest sensitive auto sector index gained the most by adding 1.52 per cent at 8,982.42 on expectations that stability in interest rates would boost the vehicle sale. The capital goods sector was second best performer by rising 1.27 per cent to 13,184.49 followed by FMCG sector index by 0.86 per cent to 3,540.02. As the buying activity spilled over a broad front, the midcap index rose by 0.42 per cent to 6,749.81 and smallcap sector index by 0.12 per cent to 8,011.63. Keywords: Bombay Stock Exchange, BSE, stock market, Sensex
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28-Mar-2011 9:29 AM
The Hindu : Business / Markets : Sensex jumps 178 points to regain 19K l...
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Sensex jumps 178 points to regain 19K level after nine weeks
PTI
AP A heavy inflow of foreign funds kept the market in bullish mood and discounted the weakening Asian trend and lower opening in Europe.
The Bombay Stock Exchange index Sensex regained the crucial 19,000 points level after almost nine weeks today adding 178 points on fresh capital inflows on eased inflationary concerns after fall in crude oil prices. Extending the gains the sixth day, the 30-share index advanced further by 177.66 points to 19,120.80 points, a level last seen on January 23. The barometer had gained 1,100 points in last five sessions. In similar fashion, the broad-based National Stock Exchange index Nifty rose by 49.10 points to 5,736.35, after touching the days high of 5,770.35. The oil extended losses in New York after Libyan rebels advanced against Muammar Qaddafis troops, raising speculation the conflict may be resolved soon. The crude fell 0.8 per cent to 103.18 dollar a barrel. A decline in oil prices for a fourth day allayed concerns that energy costs will fan inflation, marketmen said. The auto index gained the most as stocks of Maruti Suzuki India jumped 3.12 per cent to Rs 1,239.25 and Tata Motors by 1.55 per cent to Rs 1,239.20. Hero Honda Motors, the largest motorcycle maker, surged 3.02 per cent to Rs 1,546.35 after its founder got approval to raise funds from overseas investors. The second most weighted on the Sensex, Infosys Technologies shot up by Rs 32.50 to Rs 3,172.05. A heavy inflow of foreign funds kept the market in bullish mood and discounted the weakening Asian trend and lower opening in Europe. The global funds were more keen in emerging markets, particularly India, where they bought a net Rs. 1,520 crore of equities on March 25. Among other, Bharti Airtel, the biggest mobile phone operator rose for a sixth day as JPMorgan Chase raised its rating on the stock to overweight from neutral and ONGC, the largest state oil explorer advanced as it won 10 fields in the ninth auction of energy assets. Barring midcap and smallcap, all sectoral indices closed in the positive zone led by auto, metal and information technology. Keywords: sensex, share markets
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29-Mar-2011 7:26 AM
Sensex outshines global peers, gains 1300 points in 6 days - Moneycontrol...
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Sensex outshines global peers, gains 1300 points in 6 days

Published on Tue, Mar 29, 2011 at 16:04 | Updated at Tue, Mar 29, 2011 at 17:12 | Source : Moneycontrol.com Share 4
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What are Tulsian's top 3 picks for the day? What are Ambanis up to? Mukesh invades Anil's turf Nifty is perched at an important technical level: Udayan Cherry pick stocks in new fiscal; look at SIPs: Udayan Nifty may hit 5900, bank stocks signal profit: Sushil Kedia Videos Mar 29 2011, 17:51 Is World Cup fever making market resilient? - in FII View Mar 29 2011, 11:49 What are Tulsian`s top 3 picks for the day? - in MARKET OUTLOOK Interviews Mar 29 2011, 16:26 | Source: CNBC-TV18 Omkar Speciality targets 45% revenue growth in FY12 Mar 29 2011, 15:58 | Source: CNBC-TV18 Dhanuka Agritech eyes 23-24% topline growth in FY11 Corporate Announcements see all
Bulls have been taken full charge of Dalal street for the sixth consecutive session with the Sensex adding nearly 1300 points by outperforming its global peers- supported by strong inflow of foreign institutional investors. About 27 frontline shares out of 30 shares on the Sensex led the market higher. "India's valuations have come to reasonable levels post the correction and we are currently buyers of Indian stocks. Many mid and small cap stocks have turned very attractive", says Mark Mobius of Templeton Asset Management. According to him, the top three concerns for India are unemployment, inflation and water but India is amongst the top pick in the EM basket. The 50-share NSE Nifty rallied 49.10 points or 0.86%, to close at 5,736.35, after hitting an intra-day high of 5,770.35. The 30-share BSE Sensex went up 177.66 points or 0.94%, to settle at 19,120.8.
ALSO READ See Key Market Stats Top Gainers/ Losers, Most Actives, Highs/Lows See how Global Markets are trading Indian ADRs BSE | NSE 29/03/11
Index Closing Value % Change "I would like Sensex 19120.8 7.19 to see a Nifty 5736.35 6.93 penetration of 5,800 Shanghai 2958.43 1.69 level, then Hang Seng 23060.36 1.65 we have the Nikkei 9459.08 2.74 possibility of Straits Times 3056.95 2.46 touching Kospi 2072.13 3.43 6,000 and Taiwan 8596.57 1.52 that might FTSE* 5890.94 1.81 signify a CAC* 3955.73 1.31 renewed uptrend," DAX* 6893.83 1.14 Louise Dow Jones** 12197.88 1.34 Yamada, * Tuesday's value at 15:30 hours MD of ** Monday's closing value Louise Yamada Technical Research Advisors said. However, she feels that the little downtrend thats been in place comes in at about 5,800. She sees Nifty and Sensex are finding support levels around 18,175 and 5,300 respectively. Indian equity benchmarks completely outperformed its global peers by shooting up 7% in six consecutive days. Asian markets like Nikkei, Straits Times and Kospi gained 2.5-3.5% while rest of the global markets gained 1-1.5%. On the Dow and S&P 500, Yamada finds the indexes in consolidation mode. "The uptrend has not broken yet. At present it looks stable," she says. She also says that it may be the end of the cyclical setback in India. The emerging markets have been outperforming the developed markets since the beginning of the century. They are in structural bull markets. Foreign institutional investors were net buyers to the tune of Rs 3500 crore (including yesterday's provisional figure) in Indian equities in last five days till March 28. India is a magnet for investments, says Nandita Parker, Managing Partner, Karma Capital. "The 7-9% GDP growth in India continues to attract investors. They will be buying the dips in India, as they have been in the past." Parker says India has strong structural tailwinds. "We are going through a very visible and significant consumption-led boom. This is the vibrancy which is attracting the investors," she adds. On the economic data, infrastructure sector grew at 6.8% in the month of February as against 4.2% growth in the same month of previous year. Infrastructure sector grew just 5.7% in 11 months till February as against 5.4% on year-on-year basis. All sectoral indices ended in the red. Telecom, technology, financial (barring ICICI
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29-Mar-2011 9:54 AM
Sensex outshines global peers, gains 1300 points in 6 days - Moneycontrol...
http://www.moneycontrol.com/news/local-markets/sensex-outperforms-g...
Bank), realty, power, healthcare, auto and FMCG companies' shares led the support today. Auto, Metal and IT indices gained around 1-1.5%. India's largest telecom player Bharti Airtel' shares led the markets from front, with gaining 3.7%. Among others, ONGC, TCS, NTPC, HDFC, Infosys, Sterlite, DLF, Axis Bank, Tata Motors and DLF gained 1-2.5%. Maruti, Sesa Goa, Reliance Communications, Hero Honda, BPCL and Dr Reddy's Labs surged 3-4%. SBI and L&T went up over 0.5%. However, BHEL, Reliance Industries, IDFC, Cairn, Grasim, ICICI Bank and Reliance Capital were losers on Nifty. In midcap space, Puravankara Projects, Dewan Housing, BASF, Allcargo Global and Himadri Chemical surged 6-10.5% while Shree Global, Den Networks, Prestige Estate, KGN Industries and Mahindra Holiday lost 4-10%. In smallcap space, Jai Balaji Industries shot up 20% on broker reports. Force Motors, KSB Pumps, TTK Prestige and AP Paper Mills were up 7-9%. However, Accentia Tech plunged 20%. Chromatic India, BS TransComm, Ushdev Intl and OCL Iron fell 6-9%. Volume has been increased ahead of expiry on Thursday - total traded turnover was more than Rs 1.9 lakh crore, including Rs 1.76 lakh crore from F&O segment. About 1135 shares advanced as against 1842 shares declined on the National Stock Exchange. Tags: sensex, nifty, markets 1 2 3 Next page PREVIOUS STORY Sell Bharat Forge March Future; target of Rs 330: IIFL NEXT STORY Reddy views royalties as cost recoverable for Cairn-Vedanta
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The Hindu : Business / Markets : Sensex gains on easing oil prices
Business Markets
Sensex gains on easing oil prices
PTI
The 30-share BSE index Sensex today rose 169 points, recording gains for the seventh straight day, on steady FII inflows and firm global cues as falling crude oil prices eased concerns of inflation. The Bombay Stock Exchange benchmark Sensex, which has recorded handsome gains of 1,277 points over the last six sessions, jumped up further by 169.38 points to close the day at 19,290.18, best since January 12. The broad-based National Stock Exchange index Nifty also added 51.30 points to 5,787.65, after crossing the crucial 5,800 level. The gauge has recorded the longest winning streak since September, as oil prices fell further. The crude oil fell 0.6 per cent to 104.14 dollar a barrel in New York. Besides, marketmen said there was speculation that the US economic recovery will boost earnings, which spurred gains in Asian equities as well. Asian stocks rose, driving the regional benchmark index toward its highest level since March 11, as Japanese companies began resuming production that was disrupted by the earthquake and tsunami earlier this month. Also, Chinese firms have reported earnings that beat estimates. Firm opening in European stock markets further bolstered the market sentiment. The upsurge was capped, however, and reduced the gains as investors covered their pending positions ahead of this months contracts expiry tomorrow in the derivatives segment. The stocks of consumer durables, realty, healthcare and banking sectors remained the front runners as easing inflationary concerns reduced chances of further hike and interest rate. Barring FMCG, all sectoral indices closed with gains of up to 3.98 per cent. In 30BSE index kitty, 23 stocks ended with gains. With the improving signs of economic growth in the U.S., software exporting stocks remained in demand. Tata Consultancy Services, the top software services provider, climbed 1.06 per cent to Rs 1,151.35, a fifth straight day of gains. Wipro Ltd, the third-largest, added 2.01 per cent to Rs. 472.85. Keywords: Bombay Stock Exchange, BSE, Sensex close
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Wall Street Rallies for Second Day

By Adam Samson
Published March 30, 2011 | FOXBusiness Print Email Share Recom m end 69
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Upbeat corporate news and encouraging economic data propelled stocks for a second straight day. Today's Markets The Dow Jones Industrial Average jumped 71.6 points, Reuters or 0.58%, to 12,351, the S&P 500 climbed 8.8 points, or 0.67%, to 1,328 and the Nasdaq Composite gained 19.9 points, or 0.72%, to 2,777. The FOX 50 was up 6.7 points to 933. Stocks have bounced back markedly from the slump triggered by fears over the situation in Japan, the Middle East and North Africa. Indeed, the Dow has soared 737 points, or 6.4%, since bottoming on March 16. Lower-than-usual volume on the New York Stock Exchange has caused some analysts to question the conviction of the rally. However, wide participation among large institutions "counterbalance" some of those concerns, according to Peter Kenny, managing director at Knight Capital Group. The economic picture has been a major focus this week, with a slew of data being released, capped with Friday's employment situation report.
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announced plans to acquire Converteam for $3.2 billion on Tuesday. The employment situation report -- slated for release Friday morning -- is widely considered to be an important gauge of the condition of U.S. labor market. The jobs market has shown modest recovery, with the unemployment rate edging lower to 8.9% in February -- far off the January 2010 peak of 10.6%. Oil initially traded sharply lower on bearish inventory news and a strengthening U.S. dollar, but but shed some of its losses in late trading. Light, sweet crude ended the session lower by 52 cents, or 0.5%, to $104.27. Gas prices at the consumer level continue climbing. A gallon of regular gas cost $3.60 on average nationwide, up from $3.37 last month and $2.80 last year. Crude stocks were up 2.95 million barrels in the prior week -far more than the 1.8 million barrel build analysts forecast -according to the Energy Department. The unrest in Libya and the Middle East has also driven the energy markets in recent weeks. A coalition of forces including NATO has continued striking Muammar al-Qaddafi's military, but Qaddafi has countered. Despite the turmoil there, analysts are optimistic that Libya, an OPEC member, will be able to get oil production back online within 12-18 months.
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Nasdaq OMX Groups (NDAQ: 25.79, +0.04, +0.16%) cyber security breach last year is being investigated by the National Security Agency amid signs the attack may have been more severe than previously disclosed, Bloombergs BusinessWeek reported. Google (GOOG: 581.84, +0.11, +0.02%) reached a settlement with the Federal Trade Commission over privacy concerns related to its Buzz social media product. The search giant agreed to conducting independent privacy reviews for the next 20 years. News Corporation (NWS: 18.56, +0.27, +1.48%) promoted James Murdoch to the role chairman and chief executive officer of its international division. Dell (DELL: 14.64, -0.13, -0.88%) was given a "neutral" rating by Sterne Agee, with a price target of $15.00 a share, only slightly above its current trading price. Family Dollar Stores (FDO: 52.25, -0.15, -0.29%) revealed second-fiscal quarter profits of 98 cents a share, narrowly besting analysts' calls for 97 cents. Jos A Bank (JOSB: 50.55, +1.83, +3.76%) earned $1.47 a share in its fiscal-fourth quarter, well higher than the $1.43 Wall Street had forecast. Foreign Markets
31-Mar-2011
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Global shares rallied on optimism economic recovery is gaining traction across the world. The English FTSE 100 was up 0.27% to 5,948, the French CAC 40 jumped 0.92% to 4,024 and the German DAX traded higher by 1.8% to 7,057. In Asia, the Japanese Nikkei 225 soared 2.6% to 9,709 and the Chinese Hang Seng gained 1.7% to 23,451.
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PTI File photo shows people looking at the screen displaying India's share index at the facade of the Bombay Stock Exchange.
The BSE Sensex moved up for the eighth straight session on Thursday the longest stretch of upward march since last April adding 155 points to close above 19,445 on steady FII inflows and easing inflation amid firm global trends. In a highly volatile trade, the gauge shuttled between 19,575.16 and 19,284.35 as the recent rally led investors to offload pending positions on the last day of the months settlement in the derivative segment. The Bombay Stock Exchange benchmark index Sensex gained 155.04 points to close at 19,445.22 in continuation to a gain of 1,446 points in the last seven sessions -- the longest stretch of gains since April 15, 2009. The Sensex jumped 5.2 per cent last week and has rallied 8.8 per cent in March, poised for its biggest monthly advance since September. Similarly, the broadbased National Stock Exchange index Nifty rose by 46.10 points to 5,833.75, after touching the days high of 5,872. FIIs bought $1.3 billion worth of Indian equities in March, after selling $2.2 billion in January and February. Brokers said investors bought equities on easing food inflation, which fell back in the single digit, and hopes of better fourth quarter earnings to be announced -- starting in a couple of weeks. Food inflation fell to 9.5 per cent for week ended March 19, down from 10.05 per cent in the previous week. Asian trend firmed and Europe opened higher on US jobs report that increased confidence in the growth of the worlds largest economy. IT sector led the rally by adding 1.92 per cent to reach 6,548.10 on hopes that upbeat results and outlook last week from global tech majors indicated resurgence in tech spending. The Indian IT sector index has jumped nearly 8 per cent since results from the two US-based giants. The second most heaviest on the Sensex -- Infosys Technologies spurted by Rs 66.60 to Rs 3,236.75. Tata Consultancy Services rose by Rs 31.15 to Rs 1,182.50 and Wipro by Rs 5.45 to Rs 478.30. The stocks of FMCG, oil and gas, teck, metal, realty and power sector also remained in the fore-front of buying. Keywords: Bombay Stock Exchange, Sensex, BSE, stock market
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31-Mar-2011 8:52 AM
01-Apr-2011
Blue Chips Drift Higher on Jobs Data - F

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Blue Chips Drift Higher on Jobs Data

By Adam Samson Published April 01, 2011 | FOXBusiness
FOX Business: The Power to Prosper The Dow was modestly higher, slipping markedly from session highs, as traders mulled encouraging data on the jobs market and soaring energy prices. Today's Markets As of 3:15 p.m. ET, the Dow Jones Industrial Average was up 32.7 points, or 0.24%, to 12,347, the S&P 500 gained 3.3 points, or 0.25%, to 1,329 and the Nasdaq Composite slipped 1.1 point, or 0.04%, to 2,780. The FOX 50 traded higher by 3.1 points to 932. The Nasdaq OMX Group (NASDAQ:NDAQ) and the IntercontinentalExchange (NYSE:ICE) made a rivaling offer to acquire NYSE Euronext (NYSE:NYX) for a $42.50 a share. Deutsche Boerse, a german-based exchange, initially made an offer to acquire the parent company of the New York Stock Exchange for $9.53 billion in February.
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The $11.3 billion proposal by Nasdaq OMX and the IntercontinentalExchange represents a 19% premium to the Deutsche Boe deal. NYSE Euronext has a valuable derivatives business that makes the company an enticing takeover candidate. There are still several hurdles Nasdaq OMX and the IntercontinentalExchange have to jump before closing the deal. Indeed, th transaction would require approval from European Union regulators and the majority of Nasdaq OMX, IntercontinentaExchang NYSE Euronext shareholders, according to a release by the Nasdaq OMX Group. The labor market showed further signs of improvement in March. The economy added 216,000 jobs, and the unemployment from 8.9% to 8.8% -- the lowest level since March 2009. Economists were expecting a gain of 190,000 jobs for the month. Th market was slammed by the economic downturn, with the unemployment rate peaking at 10.4% in January 2010. "The overall trajectory of the economy has improved dramatically over the past two years, but there will surely be bumps in th ahead," said Austan Goolsbee, chairman of the Council of Economic Advisers, in a release. Despite gains in the headline data, average hourly earnings were unchanged on the month, even as energy and food prices ha soared -- potentially putting strain on consumers. The "economy encouragingly continues to add private sector jobs but with wage growth not keeping pace with inflation," wrote Bookvar, managing director at Miller Tabak + Co., in a research note. A broad swath of consumer-dependent stocks such as retail-giant Wal-Mart (NYSE:WMT) and Apple (NASDAQ:AAPL) could swayed by weakness in the consumer sector. Also on the economic front, the manufacturing sector continued expanding in March. The Institute for Supply Management's manufacturing index ticked slightly lower to 61.2 in March from 61.4 in February. Readings above 50 indicate expansion in the
foxbusiness.com/markets/2011//print 1/3
01-Apr-2011 Blue Chips Drift Higher on Jobs Data - F In the energy market, oil prices jumped for a second day amid continued geopolitical uncertainty.
Light, sweet crude traded higher by $1.22, or 1.1%, to $107.94. The price of a gallon of regular gas at the pump is $3.62 a g from $3.39 last month and $2.80 last year. NATO forces continue slamming Muammar al-Qaddafi's forces in oil-producing Libya, upholding a U.N. Security Council resolu protect citizens. Qaddafi's forces and anti-government rebels have been fiercely fighting, gaining and losing territory by the da The situation in Syria has escalated for another day, with reports Syrian security forces fired at protesters in Damascus, killing three people, according to a report by Reuters, citing witnesses. In currency markets, the euro recently edged 0.35% higher against the U.S. dollar and the greenback traded 0.11% lower ag basket of world currencies. Gold slid $10.40, or 0.76%, to $1,429 a troy ounce. Corporate News The "big three" U.S. automakers report March sales figures Friday... General Motors' (NYSE:GM) total sales were 206,621, up 11% from the prior month. Strong retail sales, particularly of the Chevrolet Cruz, boosted the monthly results. Ford (NYSE:F) total sales jumped 19.2% to 212,777 in March. Chrysler revealed its best total sales results since May 2008. Strong pickup and sports utility vehicle sales boosted total sale to 121,730 in March. Elsewhere in in the corporate world... Logitech (NASDAQ:LOGI) shares tumbled after the make of computer peripherals cut its earnings outlook for 2011, prompti slew of downgrades. Office Depot (NYSE:ODP) issues slid after the company said it would have to restate its second quarter, third quarter and fis 2010 results after the Internal Revenue Service denied its $80 million tax-related claim. Huntington Bancshares (NASDAQ:HBAN) was upgraded by several ratings companies, prompting shares to trade solidly hi Foreign Markets European markets soared in late trading. The English FTSE 100 was up 1.7% to 6,009, the French CAC 40 gained 1.6% to 4 and the German DAX soared 2% to 7,179. Asian shares were mixed: the Japanese Nikkei 225 sunk 0.48% to 9,708 and the Chinese Hang Seng jumped 1.2% to 23,80
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The Hindu : Business / Markets : Sensex moves up 281 points to 3-month ...
Business Markets
Sensex moves up 281 points to 3-month high; Nifty regains 5,900
PTI
The Hindu A broker at a brokerage house in Mumbai. File Photo
The BSE benchmark Sensex today rose to 3-month high at over 19,701, up about 281 points on brisk buying in fundamentally strong stocks on expectations of good fourth quarter earnings and a firm global trend. The 30-share Bombay Stock Exchange index, Sensex, shot up 281.34 points to 19,701.73, a level last seen on January 7, on aggressive buying in capital goods, IT and banking stocks. Similarly, the broad-based National Stock Exchange index Nifty shot up 82.40 points to 5,908.45. Brokers said investor sentiment remained positive on expectations that corporate earnings, as well as overall economic growth will be strong despite the recent surge in oil prices that moved up last month in view of political turmoil in the Middle East. Besides, they said that a firm trend in other Asian stock markets and higher openings in Europe bolstered the trading sentiment. The rally was led by Hero Honda, Mahindra and Mahindra, Maruti Suzuki, BHEL, Larsen and Toubro, Infosys, Wipro, Reliance Industries and ICICI Bank. The two most heaviest, with 23 per cent weightage, on the Sensex -- Reliance Industries and Infosys surged. While RIL gained Rs 14.55 at Rs 1,049.85, Infosys was up Rs 65.65 at Rs 3,283.85. Wipro led gains among software exporters after its last weeks announcement to buy SAICs IT unit. Hero Honda Motors, the largest motorcycle maker rose for the 10th day, adding Rs 15.65 to RS 1,618.30 after its sales surged 24.41 per cent to a record in March. Mahindra and Mahindra, the largest maker of sport-utility vehicles and tractors, increased Rs 33.75 to Rs 743.85. Bharat Heavy Electricals Ltd, the biggest maker of power equipment rose Rs 59.95 to Rs 2,173.80 and Larsen and Toubro by Rs 39.10 to Rs 1,690.05. The capital goods sector index gained the most, adding 2.38 per cent to 13,662.20, followed by IT index that was up 2.18 per cent at 6,659.54. Teck index rose 1.84 per cent to 3,915.18 and auto index by 1.83 per cent to 9,527.37. Keywords: BSE, NSE, Sensex, Nifty
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04-Apr-2011 8:31 AM
The Hindu : Business / Markets : Sensex gains 434 points
Business Markets
Sensex gains 434 points
PTI
The BSE Sensex on Wednesday shot up 434 points to over 19,696, snapping 5-day falling streak as investors bought stocks at lower levels amid firming global trend and easing of crude oil prices. The 30-share Bombay Stock Exchange benchmark index, Sensex, which had lost 440 points in the last five trading sessions, gained 434.32 points to close at 19,696.86. It had opened lower than the previous close at 19,101.63. The broad-based National Stock Exchange index Nifty shot up 125.80 points to 5,911.50, after a weak opening at 5,735.55 points. The upsurge in the market was led by software exporting companies on expectations for robust quarterly earnings, ahead of the fourth quarter results starting with the announcement by Infosys Technologies on Friday. The top three outsourcing companies are expected to post strong fourth quarter profits and forecast robust revenue growth for the fiscal ending March 2012 on improving global economic environment. Software exporters get about half their revenues from the US and European markets. Tata Consultancy Services jumped 2.57 per cent to Rs 1,208.95; Wipro Ltd was up 2.94 per cent at Rs 473.45 and Infosys by 2.05 per cent at Rs 3,306. The IT index rose by 2.15 per cent to 6,686.12. Besides, marketmen said investors were consolidating after selling for five consecutive sessions, amid a firming Asian trend and higher openings in Europe in view of easing crude oil prices. The crude fell to a two-week low after the International Energy Agency reported signs of slowing oil demand and as Goldman Sachs Group forecast a substantial correction. The most beaten capital goods, auto and banking sector indices gained the most. The capital goods index gained 2.73 per cent to 13,965.78, followed by auto index up 2.54 per cent to 9,428.08. The realty index rose by 1.57 per cent to 2,439.90 as Jaiprakash Associates surged 7.09 per cent to Rs 98.20. Keywords: sensex, Mumbai stocks
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13-Apr-2011 7:55 AM
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Bulls Seize the Day: Earnings Propel Stocks Higher

By Adam Samson
Published April 20, 2011 | FOXBusiness Print Email Share Recom m end
MARKET SNAPSHOT
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DJIA
12,453.54 23
+186.79 +1.52%
Nasdaq
2,802.51
+57.54 +2.10%
S&P 500
1,330.36
+17.74 +1.35%
FOX Business: The Power to Prosper The markets soared more than 1% as traders cheered strong first-quarter results and shrugged-off crude jumping above the $111 mark. Today's Markets According to preliminary calculations, the Dow Jones Industrial Average climbed 176 points, or 1.4%, to 12,443, the S&P 500 jumped 16.3 points, or 1.2%, to 1,329 and the Nasdaq Composite was higher by 51.3 points, or 1.9%, to 2,796. The FOX 50 gained 10 points to 933.
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Philips: No Plans To Exit Other Consumer Electronics Operations Japanese Shares Climb In Early Trading The Race is on to Finance the Next Facebook, Twitter
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Every sector was higher in a broad rally, with technology issues like Microsoft and energy issues such as Chevron leading the way higher. Transportation shares like CSX and Union Pacific lagged behind. With earnings season in full swing, all eyes were on first-quarter corporate results Wednesday. Technology-behemoth Apple is expected to report its firstquarter earnings after the bell Wednesday. Intel and Yahoo! both reported stellar results the prior day, sending shares rising considerably. AT&T is among the companies that reported earnings Wednesday. The telecommunications company revealed profits of 57 cents a share, matching expectations. Nasdaq OMX Group (NDAQ: 27.32, -0.08, -0.29%: 27.26, -0.14, 0.51%) also hit expectations with earnings of 61 cents a share, excluding one-time costs. Wells Fargo earned 67 cents a share, beating expectations 1 cent, but cut the amount of money set aside for bad loans to $2.2 billion from $5.3 billion the prior year. In currencies, the euro climbed 1.2% against the U.S. dollar and the greenback slumped 0.9% against a basket of world currencies. Commodities, like oil, generally trade inversely to the U.S. dollar.
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A bullish report on oil inventories also put upward pressure on oil. Domestic crude stocks unexpectedly fell 2.3 million barrels to 357 million in the prior week, as compared to a 1.1 million barrel build analysts expected. Gasoline stocks fell as well, dropping 1.6 million barrels, a slightly bigger draw than the 1.5 million markets expected. Light, sweet crude gained $3.17, or 2.9%, to $111.45 a barrel and is up more than 21% since the beginning of this year. Energy prices at the consumer level remain elevated. A gallon of regular gasoline cost $3.84 a gallon on average nationwide, up from $3.55 last month and $3.86 last year, according to the AAA Fuel Gauge Report. On the mergers and acquisitions front, power company AES (AES: 12.88, +0.41, +3.29%: 12.90, +0.43, +3.45%) unveiled plans to acquire regional power utility DPL (DPL: 30.17, +2.58, +9.35%: 30.11, +2.52, +9.13%) for $3.5 billion in cash and acquire $1.2 billion in debt. The joint Nasdaq/IntercontinentalExchange (ICE: 120.66, +1.33, +1.11%: 120.37, +1.04, +0.87%) rival bid to acquire NYSE Euronext (NYX: 39.08, +0.38, +0.98%: 39.10, +0.40, +1.03%) has taken yet another turn after the companies made a formal offer Tuesday. Nasdaq is considering formally demanding NYSE Chief Executive Officer Duncan Niederauer recuse himself from discussions on the acquisition because of conflicts of interest, sources told FOX Business' Charlie Gasparino. However, Nasdaq Chief Executive Officer Robert Greifeld said in a conference call the company is striving to have friendly talks. Greifeld also said if the merger is successful, he believes the joint-entity would be a U.S. "national champion."
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Sales of previously-occupied homes jumped 3.7% on a month-over-month basis to an annualized rate of 5.1 million units, according to the National Association of Realtors. The March reading was well above expectations of a 2.5% gain. Recent data have shown some level of improvement in the beleaguered housing market. Indeed, a report released Tuesday showed the construction of new homes climbing at the highest rate in six months. "Were clearly on a recovery path," said Lawrence Yun, chief economist at the National Association of Realtors, in a release. However, Yun notes some buyers will still find it difficult to secure mortgage financing, making somewhat of a damper on the home-buying market. Gold settled at yet another record-high Wednesday. The metal gained $3.80, or 0.25%, to $1,498 a troy ounce. Foreign Markets Global shares rallied amid positive earnings from companies across the world, such as L'Oreal and PSA Peugeot Citroen. The English FTSE 100 jumped 2.1% to 6,022, the French CAC 40 gained 2.5% to 4,005 and the German DAX was higher by 3% to 7,249. In Asia, the Nikkei 225 rallied 1.8% to 9,607 and the Chinese Hang Seng was up 1.6% to 23,896.
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The Hindu : Business / Markets : Sensex shoots up 349 points on monsoon...
Business Markets
Sensex shoots up 349 points on monsoon outlook
PTI
The Bombay Stock Exchange benchmark Sensex shot up 349 points today to over 19,470 as funds bought strong stocks, led by auto and IT sectors, amid forecast of normal monsoon and firm global cues. The Sensex, which had gained 31 points in the previous session, spurt 349.15 points to close the day at 19,470.98. The broadbased National Stock Exchange index shot up by 110.90 points to 5,851.65. Brokers said reports that rains this year will be 98 per cent of the long period average (LPA), coupled with a firm tend in the Asian region and higher openings in the European markets, pushed up the domestic markets. The auto sector index gained the most, 2.72 per cent, to reach 9,609.84, as Mahindra and Mahindra rose Rs 36.70 to Rs 763 and Tata Motors by Rs 48.05 to Rs 1,251.35. The monsoon forecast also buoyed companies such as National Fertilizers, Gujarat State Fertilisers and Chemicals and Rashtriya Chemicals and Fertilizers. The IT sector rose 2.39 per cent to 6,248.18 as HCL Technologies led gains among software exporters. It added 9.93 per cent to Rs 522.85 after reporting profits that exceeded market estimates. TCS climbed 4.63 per cent to Rs 1,218.80 ahead of its earnings report tomorrow. The mostheaviest on the Sensex, Reliance Industries spurt Rs 14.35 to Rs 1,025.70, and the secondheaviest Infosys Technologies by Rs 18.80 to Rs 2,905.50. The two carry nearly 23 per cent weightage on the benchmark. Major market supporters were HDFC Bank, ICICI Bank, Tata Power, Tata Steel, Bajaj Auto and BHRL on increased buying by investors at lower levels. As buying spilled over to broader market, smallcap sector index gained 1.29 per cent to 8,875.80 and midcap index by 1.18 per cent to 7,225.87. Keywords: Sensex, share markets
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20-Apr-2011 8:17 PM
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Wall Street Ends Higher on Strong Earnings

By Adam Samson
Published April 21, 2011 | FOXBusiness Print Email Share Recom m end
MARKET SNAPSHOT
Get Quote
22
DJIA
12,505.99
+52.45 +0.42%
Nasdaq
2,820.16
+17.65 +0.63% +7.02
S&P 500
1,337.38
+0.53%

The Dow closed the week at its highest level since June 2008 after upbeat corporate earnings lifted traders' confidence. Today's Markets The Dow Jones Industrial Average gained 52.4 points, or 0.42%, to 12,506, the S&P 500 was up 7 points, or 0.53%, to 1,337 and the Nasdaq Composite climbed 17.7 points, or 0.63%, to 2,820. The FOX 50 was higher by 2.4 points to 936. The markets closed out the shortened trading week with solid gains, following two relatively quiet weeks. The Dow and S&P 500 gained 1.3% and the technology-heavy Nasdaq added on 2%. Gains on the day were broad, with companies like IBM (IBM: 168.28, +3.53, +2.14%) leading the way. However, health care stocks like Amgen (AMGN: 53.69, -2.49, -4.43%) lagged behind. Manufacturing in the Mid-Atlantic region continued expanding in April, but at a far slower pace than in the prior month, a report released Thursday showed. The Philadelphia Federal Reserve's manufacturing index slumped to 18.5 from 43.4 in March, far below Wall Street's expectation of a reading of 35. Readings above zero represent expansion. Despite the considerable downtick, the April reading "is consistent with a healthy pace of improvement," wrote Nicholas Tenev, an economist with Barclays Capital, in a research note. The report also lent credence to the fears of some economists that rising commodity prices are seeping into the broader price level. "Firms continue to report price increases for inputs as well as their own manufactured goods," the report from the Philadelphia Fed said. The number of individuals filing for unemployment benefits fell to 403,000 from 416,000 in the prior week, still well above the consensus view of 392,000.
935.82
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Japanese Shares Climb In Early Trading Motorola: Droid Bionic Will Launch With Verizon Wireless In Summer Will the Tech Boom Continue?
Outlook for the tech sector
Tech Sector Now Hiring

Tech sector to hire 150,000 in 2011
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The steady stream of forecast-beating earnings continues. General Electric (GE: 19.95, -0.45, -2.21%) said it earned 33 cents a share in the first quarter, easily beating Wall Street's forecast of 28 cents a share. The largest U.S. conglomerate also boosted its dividend by a penny to 15 cents. McDonald's (MCD: 76.91, -1.49, -1.90%) revealed earnings of $1.15 a share, edging out estimates by a penny. The fast food chain's bottom-line benefited from same-store sales growth abroad. Morgan Stanley (MS: 26.48, +0.44, +1.69%) beat views profit expectations as well, however, the financial services company's revenue missed. Biotechnology-firm Biogen's (BIIB: 99.70, +13.13, +15.17%) earnings jumped 35% in the first quarter, and said its new oral multiple sclerosis drug MG-12 showed strong effectiveness, poising the company to be competitive in the growing market for oral MS treatments. Shares of Teva Pharmaceuticals (TEVA: 45.01, -4.16, -8.46%), which is developing a rival drug - (TEVA: 45.01, -4.16, -8.46%) tumbled to a 12-month low on the news. Apple (AAPL: 350.70, +8.29, +2.42%), the largest technology company in the world, unveiled fiscal second-quarter profits of $6.40 a share, zipping past expectations of $5.37 after the bell Wednesday.
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However, despite generally positive earnings, not all corporate news was good Thursday. Pfizer (PFE: 19.79, -0.60, -2.94%) shares tumbled more than 4% on news four patients died during trials of Tofacitinib, an experimental Rheumatoid Arthritis drug. Analysts are also keeping a close eye on the effects of the crisis in Japan on U.S. economic growth. Indeed, Goldman Sachs released a research note Thursday saying it expects vehicle production in North America to decline 10% in the second quarter, mostly due to a shortage of microcontrollers used in cars. These tiny devices are considered high-value items so companies generally keep small inventories of them, potentially creating a bottleneck for broader production, the investment bank said. In energy markets, oil have soared 22.9% since the start of 2011 and have now advanced four of the last five weeks, gaining 1.9% this week alone. Light, sweet crude settled higher by 84 cents, or 0.75%, to $112.29 a barrel. Gasoline prices at the consumer level have been stable the last two days, but remain elevated. A gallon of regular gas cost $3.84 on average nationwide, up from $3.55 last month and $2.86 last year. Weakness in the U.S. dollar generally puts upward pressure on oil prices. The greenback recently slipped 0.36% against a basket of world currencies and the euro gained 0.17% against the greenback. Gold climbed $17.90, or 1.2%, to $1,503 a troy ounce on the week, finishing the day at yet another record-high. The precious metal is 4.5% for the year. Elsewhere in corporate news... Apple (AAPL: 350.70, +8.29, +2.42%) has completed its cloud-based music storage service, and will launch ahead of a similar offering by Google (GOOG: 525.10, -0.63, -0.12%), according to a report by Reuters.
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Microsoft (MSFT: 25.52, -0.24, -0.93%) plans on increasing employee compensation as rivals attempt to tap into key talent. Mattel (MAT: 26.67, -0.26, -0.97%), the largest U.S. toy company, was dealt a surprising defeat in a lawsuit it brought against MGA Entertainment over who owns the rights to the lucrative Bratz dolls line. Groupon hired Margo Georgiadis, currently Google's (GOOG: 525.10, -0.63, -0.12%) vice president of global sales and technology, to take on the role of Chief Operating Officer, according to a report by Crain's Chicago Business. NYSE Euronext (NYX: 39.03, -0.05, -0.13%) once again rebuffed the rival merger bid levied by Nasdaq OMX (NDAQ: 27.54, +0.22, +0.81%) and IntercontinentalExchange (ICE: 122.18, +1.52, +1.26%). The parent of the New York Stock Exchange said it believes the original offer from Deutsche Boerse offers significantly more value for shareholders than the Nasdaq/ICE deal. Monex, a Japanese online Brokerage, plans on buying U.S.-based TradeStation (TRAD: 9.69, +2.28, +30.77%) for $411 million, or $9.75 a share -- a 32% premium. Foreign Markets Global shares were mixed after soaring in the prior session. The English FTSE 100 was down 0.07% to 6,018, the French CAC 40 gained 0.43% to 4,022 and the German DAX traded higher by 0.43% to 7,295. In Asia, the Japanese Nikkei 225 jumped 0.82% to 9,686 and the Chinese Hang Seng climbed 1% to 24,138.
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Strong Earnings Launch Dow to Multi-Year High

By Adam Samson
Published April 26, 2011 | FOXBusiness Print Email Share Recom m end 1
MARKET SNAPSHOT
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DJIA
12,595.37 23
+115.49 +0.93%
Nasdaq
2,847.54
+21.66 +0.77%
S&P 500
1,347.24
+11.99 +0.90%
FOX Business: The Power to Prosper Big-name companies like Ford and 3M unveiled solid firstquarter earnings, igniting a broad rally for stocks. Today's Markets The Dow Jones Industrial Average climbed 115 points, or 0.93%, to 12,595, the S&P 500 was up 12 points, or 0.9%, to 1,347 and the Nasdaq Composite gained 22 points, or 0.77%, to 2,848. The FOX 50 was up 7 points to 943.
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Cisco Powers Tech Gains, As Lexmark Falls RadioShack 1Q Profit Falls 30% On Lower Margins, Added Costs Growing Concerns Over Smartphone Privacy
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Every major sector advanced on the day, with transportation companies like Delta Airlines (DAL: 9.99, +0.99, +11.00%) and CSX (CSX: 76.62, +1.99, +2.67%) gaining markedly. Materials issues such as Barrick Gold (ABX: 50.19, -1.67, -3.22%) and Silver Wheaton (SLW: 39.17, -1.86, 4.53%) lagged behind. Ford (F: 15.66, +0.12, +0.77%) posted its best results in 13 years. The company reported earnings of 62 cents a share, excluding one-time charges, easily topping consensus estimates of 50 cents. The automaker benefited from strong demand for fuel efficient vehicles and strong global growth.
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3M (MMM: 95.94, +1.82, +1.93%) also beat Wall Street's forecasts, unveiling first-quarter earnings of $1.49 a share, excluding one-time charges, compared with expectations of $1.44 a share. United Parcel Service (UPS: 74.30, +0.66, +0.90%) said it earned 88 cents a share during the quarter, besting calls of 85 cents. IBM (IBM: 168.49, +0.82, +0.49%) boosted its quarterly dividend by 15% and authorized an additional $8 billion in share buy backs. Big blue's shares hit a lifetime high on the day. Fresh data from the Conference Board showed consumer sentiment edged higher in April. Consumer confidence was up to 65.4 in April from a revised 63.8 in March, with both views of the present situation and future expectations improving. "A still improving labor market seems to be offsetting the rise in gasoline and food prices for now in terms of consumer psyche,"
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wrote Peter Boockvar, managing director at Miller Tabak + Co., in a research note. Indeed, consumers' assessment of the current conditions hit its highest mark since November 2008. Economists forecast a reading of 64.5 for the month. Consumer-driven issues such as Coach (COH: 57.25, +0.17, +0.30%) and Best Buy (BBY: 30.70, +0.50, +1.66%) could be affected by these data. Home prices fell 3.3% on a year-over-year basis and 1.1% on a month-over-month basis in February, according the the S&P/Case-Shiller home price index. Data released by the Commerce Department Monday showed sales of new homes jumping 11% in March, but the median home price falling to $213,800 $224,800. There is very little, if any, good news about housing. Prices continue to weaken, trends in sales and construction are disappointing. said David M. Blitzer, chairman of the Index Committee at S&P Indices, in a release. Economists are also eagerly awaiting the statement from the Federal Reserve Open Market Committee Wednesday on its plans for U.S. monetary policy. The markets expect the committee to say it will end its controversial long-term treasury buying program, referred to as QE2, in June, and keep interest rates at historically low levels for the foreseeable future. The Fed has been grappling with its goal of keeping both inflation and unemployment low. Fed Chairman, Ben Bernanke, will also be directly addressing questions from journalists after the meeting -- a first for the
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central bank. "Wednesday afternoon will mark a watershed in Federal Reserve communications strategy," wrote Andrew Tilton, senior economist at Goldman Sachs, in a note. In energy markets, oil prices have been little changed so far for the week, but have jumped more than 20% for the year. Light, sweet crude settled lower by 7 cents, or 0.06%, to $112.21 a barrel. The price of gas at the pump continues ticking higher. A gallon of regular gas costs $3.87 a gallon on average nationwide, up from $3.58 last month and $2.85 last year. The U.S. dollar hit a fresh 2011 closing low against the euro on Tuesday and is down 8.5% on the year. The euro gained 0.31% against the greenback, and the dollar slumped 0.16% against a basket of world currencies. In metals, gold prices fell from a record high Tuesday, snapping an 8-day winning streak. The metal traded lower by $5.60, or 0.37%, to $1,503. Corporate News U.S. Steel (X: 49.72, -2.11, -4.07%) posted a first-quarter loss of 60 cents as compared with $1.10 a year ago and said it expects high steel prices would lead to significant profits in the next quarter. Netflix (NFLX: 228.91, -22.76, -9.04%) earned $1.11 a share in the first quarter -- a year-overyear increase of 88% -- on 69% growth in global subscribers. However, the video rental and streaming service said it expects to earn between 93 cents and $1.15 in the current quarter, spooking traders. Lawson Software (LWSN: 11.06, -1.06, -8.78%) is being taken private by Golden Gate Capital and Infor in a deal valued at roughly $2 billion. Coca-Cola (KO: 66.93, -0.81, -1.20%) revealed first-quarter profits of 86 cents a share, missing analysts' estimates by a penny. Losses in revenue caused by the earthquake and tsunami that
26-Apr-2011
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slammed Japan in March caused a 1 cent decrease on the largest soft-drink company's bottom line. Express Scripts' (ESRX: 54.15, -1.22, -2.20%) price target was cut to $71 from $79 by analysts at JMP Securities. Foreign Markets The English FTSE 100 gained 0.85% to 6,069, the French CAC 40 was up 0.58% to 4,045 and the German DAX climbed 0.84% to 7,357. In Asia, the Japanese Nikkei 225 tumbled 1.2% to 9,559 and the Chinese Hang Seng was off 0.54T to 24,007.
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Wall Street Extends Winning Streak on 1Q Earnings

By Adam Samson
Published April 28, 2011 | FOXBusiness Print Email Share Comments (12) Recom m end 4
MARKET SNAPSHOT
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DJIA
12,763.31 26
+72.35 +0.57% +2.65
Nasdaq
2,872.53
+0.09% +4.82
S&P 500
1,360.48
+0.36%
FOX Business: The Power to Prosper The blue chips advanced for a third straight day as optimism over encouraging corporate earnings overshadowed gloomy economic data. Today's Markets The Dow Jones Industrial Average was up 72.4 points, or 0.57%, to 12,763, the S&P 500 gained 4.8 points, or 0.36%, to 1,360 and the Nasdaq Composite climbed 2.7 points, or 0.09%, to 2,873. The FOX 50 was edged higher by 3.6 points to 955. Transportation companies such as Norfolk Southern (NSC: 73.87, +5.46, +7.98%) and Union Pacific (UNP: 102.90, +1.10, +1.08%) led the way higher. Energy issues like ConocoPhillips (COP: 77.45, -2.38, -2.98%) and Petroleo Brasileior (PBR: 36.94, -0.44, -1.18%) lagged behind. The markets gained the last three days as strong earnings from major companies and the Federal Reserve's reaffirmation of its highly-expansionary monetary policy gave stocks a boost. Indeed, the Nasdaq hit a 10-year high on Thursday. The first read of U.S. gross domestic product showed the economy expanded at an annualized rate of 1.8% in the first quarter of 2011. Economists expected the economy to have grown at rate of 2% for the quarter. The report also showed a substantial pickup in quarter-over-quarter headline and core inflation. The so-called PCE price index, which the Fed closely monitors, soared 3.8%, or 1.5% excluding volatile food and energy prices. Recent data have foreshadowed the slowdown, and many economists are already looking to see if the economy will be able to regain its footing in the current quarter. "Higher gasoline prices and supply disruptions in the wake of the Japanese earthquake may hinder the springtime reacceleration in activity," wrote economists at RBS in a note.
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four-week-moving-average, which helps to reduce volatility is now at 408,500. Generally, claims under the 400,000 level point to moderate recovery in the labor market. "The trend over the past few weeks is clearly disappointing as signs were pointing to a more sustainable pick up in the labor market," wrote Peter Boockvar, managing director at Miller Tabak + Co. in a note. Bookvar also notes that companies may be forced to cut staffing as energy and material prices have soared in a bid to maintain profit margins. Pending home sales jumped 5.1% in March -- easily topping economists' forecast of a gain of 1.5%. However, the number of signed real estate contracts were still off 11.4% from the same month last year. "We look for the housing market to recover further in the near term, albeit at a gradual pace, as the economy continues to grow," wrote Barclays Capital economist Theresa Chen in a note. On the corporate front, Microsoft (MSFT: 26.71, +0.33, +1.25%) posted earnings of $5.7 billion, or 61 cents a share after the closing bell, zipping by forecasts of 56 cents. The technology-giant's bottom line was boosted by growth in its business division and revenue from its Xbox gaming console. Oil giant ExxonMobil (XOM: 87.34, -0.44, -0.50%) earned $10.65 billion, or $2.14 a share, topping Wall Street's view of $2.07 a share. The largest U.S. company by market capitalization benefited from high oil prices and widening margins in its refineries.
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Procter & Gamble (PG: 64.50, +0.48, +0.75%), the consumerproduct giant, posted fiscal third-quarter profits of $2.87 billion, a gain of 11%, which was inline with expectations. Sprint (S: 5.11, +0.32, +6.68%) revealed a first-quarter loss of $439 million, or 15 cents a share, far narrower than Wall Street's forecast of a loss of 22 cents. The dollar fell to its lowest level in three years after the Federal Reserve said it would keep interest rates at extraordinarily low levels. Generally, capital follows higher interest rates, which can now be found abroad, which decreases demand for the dollar, hence forcing the exchange rate down. The greenback slipped 0.28% against a basket of world currencies, and the euro gained 0.26% against the U.S. dollar. Weakness in the U.S. dollar, however, does make it less expensive for companies abroad to purchase U.S. goods, which could potentially boost exports, economists say. Energy markets were subdued after fairly volatile trading in the prior session. Light, sweet crude settled higher by 10 cents, or 0.09%, to $112.86 -- the highest settle since September 2008. Wholesale RBOB gasoline for May delivery tacked on 1 cent, 0.3% to $3.43, closing at its highest point since July 2008. Gasoline prices on the consumer level continue marching higher. A gallon of regular gas at the pump cost $3.89 on average nationwide, up from $3.59 last month and $2.87 last year, according to the AAA Fuel Gauge report. Gold was up $14.20, or 0.94%, to $1,531 a troy ounce -- yet another record high for the metal. Corporate News
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Akami's (NASDAQ:AKAM) second quarter outlook of between 34 and 37 cents a share missed the Street's view of 38 cents, prompting several downgrades from ratings firms and sending the stuck deep into the red. Cisco (CSCO: 17.29, +0.10, +0.58%) is offering early retirement to some employees as part of its "targeted moves" to refocus the company. Dow Chemical (DOW: 40.71, +0.79, +1.98%) posted a 34% rise in first-quarter profits amid solid sales growth and strength in its chemical business. Exelon (EXC: 42.18, +0.69, +1.66%) plans on acquiring rival energy company Constellation Energy (CEG: 36.26, +1.96, +5.71%) for $7.9 billion. Chrysler plans on repaying the U.S. and Canadian government for bailout loans during the second quarter of 2011. Aetna (AET: 41.45, +1.64, +4.12%) unveiled first-quarter profits of $586 million, or $1.50 a share, easily besting estimates of 97 cents. The health insurer also plans on acquiring Prodigy Health Group for $600 million. Foreign Markets The English FTSE 100 traded higher by 0.03% to 6,070, the French CAC 40 was up 0.91% to 4,105 and the German DAX climbed 0.95% to 7,475. In Asia, the Japanese Nikkei 225 soared 1.6% to 9,849 and the Chinese Hang Seng slid 0.36% to 23,806.
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Stocks end ugly month on a high note

By Hibah Yousuf May 31, 2011: 4:53 PM ET
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8 great road trip cars Stocks end ugly month on a high note Home prices: 'Double-dip' confirmed Netflix stock hits all-time high 5 hot startups at TechCrunch Disrupt
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NEW YORK (CNNMoney) -- The rally in U.S. stocks regained momentum Tuesday afternoon, but the day's gains weren't enough to lift the market out of the red for the month. In fact, the market's performance in May was the worst since August 2010. The Dow tumbled nearly 2% for the month, while the S&P 500 and the Nasdaq lost 1.3%.
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May has been a rough month for the stock market as investors wrestle with signs of a slower recovery. On Tuesday, investors sifted through yet another batch of weak U.S. economic data that showed a decline in home prices, regional manufacturing activity and consumer confidence.
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Home prices continue downward spiral - StockTwits

But optimism about the possible bailout for Greece, sparked by a Wall Street Journal article, gave stocks a boost. The Dow Jones industrial average ( INDU) surged 128 points, or 1%. All but one of the Dow's components posted gains, with Pfizer ( PFE, Fortune
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AA, Fortune 500)
500), Cisco ( CSCO, Fortune 500) and Alcoa ( leading the advance.
The S&P 500 ( SPX) added 14 points, or 1.1%, and the Nasdaq Composite ( COMP) gained 38 points, or 1.4%. The Journal reported that Germany is shifting its stance to consider lending more money to debt-ridden Greece. Previously, German officials had said that private investors in Greece should share some of the burden in any new bailout, but according to the Journal, Germany is now considering lending additional assistance -- even without private bondholders getting involved. "The market is battling between growing fears that the U.S. economy is headed toward another downturn, and some progress on the European debt problems," said Peter Tuz, president at Chase Investment Counsel.
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U.S. investors are also gearing up for the government's highly anticipated monthly jobs report on Friday. CNNMoney's survey of economists forecast that the U.S. economy created 178,000 jobs in May, down from 244,000 jobs a month earlier. The unemployment rate is expected to tick down to 8.9% from 9%. U.S. stocks rose modestly last Friday, with trading volume light as traders positioned themselves for a long holiday weekend. The stock market was closed Monday for Memorial Day. Economy: According to the closely watched S&P Case-Shiller Index, home prices recently fell to their lowest levels since the housing bubble burst. Prices tumbled 4.2% in the first quarter, sending home prices back to levels not seen since mid-2002. The Chicago Purchasing Managers index fell more than expected to 56.6 in May, from 67.6 the previous month. Economists were expecting the figure to slip to 62.5. The Conference Board's consumer sentiment index declined to 60.8 in May, from 65.4 in April. Economists were expecting consumer confidence to rise to 66.3.
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Companies: Shares of Nokia ( NOK) tumbled 14%, after Nokia issued a sales warning that the second quarter will be lower than previously expected. The cell phone maker, which has been losing market share to Apple ( AAPL, Fortune 500) and Google ( GOOG, Fortune 500), also lowered its full-year outlook.
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Shares of Apple rose 3% after the company said that CEO Steve Jobs, who is on medical leave, will introduce the iCloud service during the Worldwide Developers Conference keynote on June 6 in San Francisco.
World markets cheer Greek, Japanese news

World markets: European stocks climbed Tuesday. Britain's FTSE 100 rose 0.9%, the DAX in Germany surged 1.9%, and France's CAC 40 added 1.6%. Asian markets ended sharply higher. The Shanghai Composite rose 1.4%, the Hang Seng in Hong Kong gained 2.2% and Japan's Nikkei added 2%. Early Tuesday, Moody's placed 12 Japanese regional governments on review for a possible downgrade.
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Currencies and commodities: The dollar fell against the euro, but rose versus the British pound and the Japanese yen. Oil for July delivery rose $2.11, or 2.1%, to settle at $102.70 a barrel. Gold futures for August delivery slipped 50 cents to settle at $1,536.80 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 3.05% from 3.06% late Friday.
First Published: May 31, 2011: 9:36 AM ET Share Email Print
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1BHart, 5 minutes ago Please get rid of all the US government intervention so we can finally have some clarity. Everything has been so artificial for so long. We need to start working on our problems instead of avoiding them.
ChuckandDenise Webb, 31 minutes ago The Euro has more problems than Greece.
Doorgunner47, Today 04:19 PM But of course we shall always bail out investment banks--as long as they are politically connected in just the right way. Always.
guest0311, 31 minutes ago in reply to Doorgunner47 I won't comment on whether or not giving Federal assistance to investment banks is a wise choice. I would simply comment that investment banks are a critical, repeat, critical component in the market. On the topic of greasing the political wheels, I would say that money talks far more clearly than any weapon ever could. Pretending that governments, even ours, well maybe especially ours, are not lubricated by a stream of hard currency is foolish.... show more
LUFC1, Today 12:16 PM What US economy?

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MARKETS
Bulls Sprint Forward on Upbeat Economic News

By Adam Samson Published June 14, 2011 | FOXBusiness Print Email Share Recom m end
MARKET SNAPSHOT
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DJIA
12,076.11
+123.14 +1.03%
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FOX Business: The Power to Prosper A batch of encouraging economic reports helped ease traders' concerns over the slowing pace of the economic recovery, sparking the best rally for the broad S&P 500 in nearly two months. Today's Markets The Dow Jones Industrial Average jumped 123 points, or 1%, to 12,076, the Reuters S&P 500 rallied 16 points, or 1.3%, to 1,288 and the Nasdaq Composite soared 39 points, or 1.5%, to 2,679. The FOX 50 gained 8.1 points to 903. Every major sector closed in the green on Tuesday. Energy and materials stocks fared the best on the day after getting knocked down on Monday, while financial issues lagged behind.
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Retail sales were down 0.2% in May, a narrower decrease than the 0.4% Wall Street anticipated. Excluding automobiles, sales were up 0.3%, which was inline with analysts expectations. Prices on the wholesale level were up 0.2% in May, slightly higher than AMERICAN FAMILY estimates of a 0.1% increase. Prices were up by the same amount excluding the food and energy component, which was in line with expectations. Producer 9 ways to teach your kids to save prices were, however, up 7.3% from last May, higher than the 6.8% economists United Stationers Hire New Financial Chief forecast.
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A major question has been whether significant gains in energy will seep into the broader price level -- a situation that many economists say is more Buy a link here challenging to control. Indeed, Peter Newland, an economist with Barclays Capital notes "there is increasing evidence of building pipeline price pressures." The more closely-watched Consumer Price Index is slated for release on Wednesday. Wall Street also got fresh data suggesting the Chinese economy, the second-largest in the world, might not be slowing down as quickly as expected. Despite the sharp rally, many market participants remained wary about the sustainability of the sudden uptick in confidence on Wall Street. "Nothing has changed" to suggest the economic picture has brightened, said Peter Kenny, managing director at Knight Capital Group. "All of the fundamentals point to a slowdown." After a sharp selloff in recent weeks, market observers noted traders might have been taking advantage of low prices to hunt for bargains as well. Today's rally "could be an indication the market is looking for any favorable news on which to begin buying while prices are still relatively low, wrote David Krein, senior director of product development and analytics at Dow Jones Indexes, in a research note.
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Technical trading, which is when traders look for key prices levels and movements, also played in to the sudden rally, according to Kenny. On the corporate front, Apple (AAPL: 332.44, +5.84, +1.79%) and Nokia (NOK: 6.26, +0.15, +2.46%) agreed to settle all pending patent lawsuits and International Trade Commission complaints. Nokia said the deal will increase its quarterly earnings, pushing shares significantly higher in early trading. The two companies had been sparring over smartphone patents for months. The high pace of mergers and acquisitions activity continued into Tuesday. Ericsson (ERIC: 14.06, +0.32, +2.33%) unveiled plans to buy privately-held Telcordia for $1.15 billion in cash. Graham Packaging (GRM: 26.28, +0.65, +2.54%) backed a $1.6 billion buyout offer from Reynolds Group and said it would terminate a prior takeover agreement with Silgan Holdings (SLGN: 40.53, -0.09, -0.22%). Energy markets tracked equities far into the green. Light, sweet crude soared $2.07, or 2.1%, to $99.37 a barrel. Wholesale RBOB gasoline was up 7 cents, or 2.3%, to $3.06 a gallon. Consumer gasoline prices continue moderating at a fairly slow pace. A gallon of regular gas costs $3.70 on average nationwide, down from $3.96 last month, but still a dollar above the $2.70 drivers paid last year, according to the AAA Fuel Gauge Report. In metals, gold climbed $8.80, or 0.58%, to $1,524 a troy ounce. Silver was up 67 cents, or 1.9%, to $35.41 a troy ounce. The euro gained 0.33% against the U.S. dollar and the greenback fell 0.24% against a basket of world currencies. Corporate News Best Buy (BBY: 30.13, +1.31, +4.55%) revealed fiscal first-quarter earnings of 35 cents a share, besting estimates of 33 cents. The technology retailer saw revenue of $10.94 billion, also topping Wall Streets forecast of $10.71 billion. Ford (F: 13.43, +0.29, +2.21%) announced plans to boost its European production, including a $1.2 billion investment in Spain. Dryships (DRYS: 3.92, +0.15, +3.98%) was upgraded to "outperform" from "market perform" by analysts at Wells Fargo, pushing shares sharply higher. Foreign Markets Global shares rallied on the positive economic data from China. The English FTSE 100 was up 0.51% to 5,803, the French CAC 40 climbed 1.5% to 3,865 and the German DAX jumped 1.7% to 7,205. In Asia, the Japanese Nikkei 225 soared 1.1% to 9,548 and the Chinese Hang Seng ticked lower by 0.05% to 22,496.
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PTI The Bombay Stock Exchange index rose by 513.19 points to 18,240.68, its second largest gain after the 600-point post budget rally. File
In the biggest single day gain since March, the BSE Sensex soared 513 points on Friday to regain the 18k mark after nine days to close at 18,241 on the back of sharp dip in global crude oil prices and firm overseas cues. Analysts said easing crude oil prices reduced investor concerns of inflationary pressures and hike in interest rates. India imports 75 per cent of its requirement and soaring oil prices had been a nagging concern. An Empowered Group of Ministers (EGoM) is slated to meet later today to discuss fuel prices, including a possible hike in diesel and cooking gas to bridge the subsidy burden of oil companies. Besides, analysts said, frantic short-coverings in the recently battered counters ahead of the expiry of derivatives contract next week also boosted the market sentiment. After having gained about 177 points yesterday, the Bombay Stock Exchange 30-scrip index surged 513.19 points or 2.89 per cent to reach 18,240.68 -- the largest gain after March 1, when the Budget proposals had kicked it up over 600 points. The gauge touched todays high of 18,268.95. The NSE 50-issue Nifty also flared 151.25 points or 2.84 per cent to end at over one-week high of 5,471.25. CNI Research Chairman Kishor Oswal said fall in oil prices have given the government option not to raise fuel prices immediately, and if they dip to about USD 85 a barrel, then there may be cut in energy prices, considerably reducing fears of inflation and high interest rate pressures. IIFL Head of Research Amar Ambani said, A strong bout of short-covering, coupled with a world-wide relief rally lifted the spirits in the Indian markets today. All eyes will be on the EGoM on fuel prices, which is scheduled to take place later this evening, Oil prices fell after International Energy Agency decided to release 60 million barrels of crude, giving global economy relief from high energy costs. The New York crude oil tumbled nearly 5.0 per cent to about $90 a barrel, while Brent Crude plunged $7 to about $107. Globally, besides Taiwan, major Asian markets closed with sharp gains. Key indices from China, Hong Kong, Japan, Singapore and South Korea ended up 2.19 to 0.85 per cent. European stocks too were trading remarkably higher in afternoon deals. The CAC was up 1.9 per cent, the DAX and FTSE by 1.6 per cent each. Back home, FIIs, after nine sessions of heavy sell-off, turned net buyers to the tune of Rs 229.21 crore yesterday. Infosys was up 3.17 per cent, ICICI Bank (3.34 pc), L&T (4.25 pc), HDFC (4.46 pc), SBI (5.95 pc), TCS (3.81 pc), ITC (1.88 pc), HDFC Bank (2.11 pc), Tata Steel (3.92 pc), ONGC (3.12 pc), Bharti Airtel (2.45 pc), Hero Honda (6.07 pc), M&M (3.18 pc) and Tata Motors (2.07 pc). Of the 30 Sensex counters only Reliance Industries and REL Infra recorded minor losses. Recently hammered realty counters attracted heavy buying on bargain hunting. The BSE-Realty index, which was down by 223.51 points or 10.39 per cent in the last seven sessions, rebounded 72.44 points or 3.76 per cent and was the top gainer from sectoral indices. Of 13 sectoral indices, only BSE-CD ended 2.24 per cent lower. Other indices settled higher between 3.76 per cent and 1.13 per cent. BSE-Metal index, BSE-IT, BSE-CG, Bankex and Auto were other major gainers. The market breadth at BSE turned positive as 1,984 stocks closed in the green, while 852 that ended in the red. The total turnover improved to Rs 2,830.49 crore from Rs 2,525.86 crore on Thursday. Keywords: BSE, Sensex, NSE, Nifty
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MARKETS
Greek Rescue Hopes Rile Up the Bulls; Stocks Soar

By Adam Samson Published June 28, 2011 | FOXBusiness Print Email Share Comments Recom m end 7
MARKET SNAPSHOT
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12,188.69 27
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2,729.31
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FOX Business: The Power to Prosper Optimism that Greece will be able to take the necessary measures to avert a default lifted Wall Street's sentiment and sent the major market averages soaring more than 1%. Today's Markets The Dow Jones Industrial Average jumped 145 points, or 1.2%, to 12,189, the S&P 500 rallied 16.6 points, LAST 5 STOCKS or 1.3%, to 1,297 and the Nasdaq Composite climbed 41 points, or 1.5%, to 2,729. The FOX 50 was up FOX50 9.8 points to 908. FOX 50 INDEX
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The rally sent the blue chips for their best daily performance since April.
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Energy stocks like Schlumberger (SLB: 84.35, +3.71, +4.60%) were the top performers on the day by far, tracking steep gains in the commodities complex. Technology shares such as Electronics Arts (ERTS: 22.55, +0.84, +3.87%) had a strong showing as well.
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While no specific deal was struck Tuesday regarding the volatile Greek debt situation, there were hopes among market participants that a resolution will be forthcoming. Headlines regarding Greece have driven Wall Street higher and lower in recent sessions. There were sometimes violent protests throughout the day and going into evening in Athens, Greece amid popular uneasiness over austerity measures the embattled nation may take in exchange for a $17 billion emergency bailout from the European Union and International Monetary Fund. The Greek Parliament is expected to vote Wednesday on a package that includes some $40 billion in spending cuts and tax increases. The vote is expected to be tight: the ruling PASOK party controls the majority in Parliament, and is by-and-large expected to vote "yes," but there have been rumors in recent days that certain members have defected. Prime Minister George Papandreou has tried to rally the party, but has still faced steep opposition, winning a key confidence vote by a narrow margin.
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"The odds remain high ... that the bill will pass but uncertainty persists ahead of the vote," wrote analysts at BNP Paribas in a research note. Without the fresh aid package, many analysts suggest, Greece won't be able to pay the tranche of debt that comes due next month -- forcing it to default. A default by Greece could affect more stable euro zone members like Spain and Italy, and create a cascading effect that pressures global credit markets. Energy markets rallied on hopes of a resolution to the Greek debt crisis. The euro jumped 0.49% against the U.S. dollar and the greenback fell 0.29% against a basket of world currencies. Light, sweet crude surged $2.28, or 2.5%, to $92.89 -- the biggest leap in more than a month. Wholesale RBOB gasoline soared 8 cents, or 2.9%, to $2.89 a gallon. Consumer gasoline prices continue on their downward trend. A gallon of regular gas at the pump costs $3.55 on average nationwide, down from $3.79 last month, but still well above the $2.76 drivers paid last year, according to the AAA Fuel Gauge Report. On the economic front, consumer confidence fell to its lowest level since November 2010 in June, according to the Conference Board. The index fell to 58.5 from a revised 61.7, far below forecasts of 60. A pessimistic job outlook weighed on confidence, as more participants said jobs were difficult to get, and fewer said jobs were plentiful. Inflation expectations, which are closely watched by economists, fell considerably during the month. The S&P/Case Shiller Home Price Index showed home prices in 20 major metropolitan areas rose 0.7% in April on a non-seasonally-adjusted basis, topping estimates of a gain of 0.3%. With seasonal adjustments, the gauge ticked lower by 0.1%, a shallower loss than the 0.2% Wall Street expected. Prices were down 4% from a year ago, slightly higher than the 3.9% decrease analysts forecast. Home prices took a hit during the economic downturn because of high supply and demand that was weakened by a slew of factors, including a tight mortgage market. In metals, gold rose $3.80, or 0.25%, to $1,500 a troy ounce. Silver climbed 6 cents, or 0.16%, to $33.65 a troy ounce. Corporate News
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Goldman Sachs (GS: 129.26, -1.45, -1.11%) tumbled to a two-year low in mid-day trading. Google (GOOG: 493.65, +10.85, +2.25%) unveiled its new social networking service that takes aim at the red-hot social market pioneered by firms like Facebook and Twitter. Lockheed Martin (LMT: 79.44, -0.23, -0.29%) was awarded a $184 million contract to build threat detection systems for the U.S. Army. Accenture (ACN: 59.65, +1.86, +3.22%) shares got a boost after Standard & Poor's said the consulting company would replace Marshall & Ilsley (MI: 7.70, +0.05, +0.65%) on the S&P 500 index next month. Microsoft (MSFT: 25.80, +0.60, +2.38%) is set to unveil its Office in the cloud software called Office 365, which is meant to compete with other Internet-based productivity programs made by rivals like Google (GOOG: 493.65, +10.85, +2.25%) and Zoho. Sony (SNE: 25.42, +0.16, +0.63%) says it became the subject of a major hacking attempt because it attempted to protect its intellectual property on video game consoles. Foreign Markets The English FTSE 100 climbed 0.88% to 5,773, the French CAC 40 soared 1.5% to 3,855 and the German DAX jumped 0.94% to 7,174. In Asia, the Japanese Nikkei 225 jumped 0.74% to 9,649 and the Chinese Hang Seng inched higher by 0.09% to 22,062.
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Financial, Energy Shares Lead Wall Street Higher

No Day at the Spa for Owner, Thanks to Uncle Sam One Maryland Spa owner shares her struggles with unemployment taxes. Drilling Company Fears 5-Inch Lizard How drilling and construction could stop in Texas because of one small reptile.
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Wall Street Kicks off Celebration Early: Stocks Rally for 5th Day
By Adam Samson Published July 01, 2011 | FOXBusiness Print Email Share
MARKET SNA
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8
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FOX Business: The Power to Prosper The blue chips capped the best week in two years with a pre-Independence Day rally as traders cheered a better-than-expected ISM manufacturing report.
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Today's Markets The Dow Jones Industrial Average climbed 168 points, or 1.4%, to 12,583, the S&P 500 gained 19 points, or 1.4%, to 1,340 and the Nasdaq Composite rose 42.5 points, or 1.5%, to 2,816. The FOX 50 gained 13 points to 937.
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As Greece fades from the spotlight, market participants are beginning to pay closer attention to the global economic recovery and secondquarter corporate earnings. Many economic reports this week were positive, sending the major market averages well into the green. For the week, the Dow jumped 5.4%, the S&P 500 rallied 5.6% and the Nasdaq soared 6.2%. The highly-watched Institute for Supply Management Manufacturing PMI report ticked higher to 55.3 in June from 53.5 in May, easily topping estimates of 51.8. Readings above 50 are seen as pointing to expansion in
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the manufacturing sector. Several regional Federal Reserve reports showed steep contractions in the manufacturing sector, but data on the Midwest region from ISM released on Thursday came in significantly higher than expectations. "Pressures from rising commodity costs, plus supply-chain disruptions from Japan's natural disaster have combined to slow manufacturing's momentum," wrote IHS Chief U.S. Economist Nigel Gault in a research note. "This report suggests that those pressures may be starting to ease." Consumer sentiment edged slightly lower to 71.5 in the end of June from 71.8 in the prior reading. Wall Street forecast the gauge to hit 71.9 for the end of the month. Falling gasoline prices helped push consumers' inflation expectations down to the lowest level since February. Construction spending, however, fell 0.6%, the sixth straight month of declines, pushing the gauge to the lowest level since 1999. Euro zone finance ministers could agree to release the next $17 billion round of aid to Greece as early as Saturday, according to a report by the Wall Street Journal . The country that has been struggling with an enormous public debt burden approved a sweeping, $40 billion austerity package that European authorities had pushed for for several weeks. Energy markets ended the day mixed. The U.S. dollar fell 0.09% against a basket of world currencies and the euro edged 0.11% higher against the dollar. Light, sweet crude was off $1.17, or 1.2%, to $94.34 a barrel.Oil, however lurched 4% higher for the week LAST 5 STOC - the biggest gain since early April. Wholesale RBOB gasoline gained 3 cents, or 0.11%, to $2.97 a gallon. Prices at the pump ticked higher overnight, but have been on a trend lower. A gallon of regular gas costs $3.55 on average nationwide, down from $3.78 last month, but well higher than the $2.75 drivers paid last year, according to the AAA Fuel Gauge Report. Gold dipped $20.20, or 1.3%, to $1,483 a troy ounce. Silver fell $1.13, or 3.2%, to $33.71 a troy ounce. Corporate News Blackboard (BBBB: 44.17, +0.78, +1.80%) agreed to be taken private by Providence Equity Partners for $1.6 billion in cash. Eastman Kodak (EK: 3.07, -0.51, -14.25%) shares plunged after a U.S. trade panel backed an unfavorable ruling by a judge in the company's patent battle with Apple and Research in Motion. Apple (AAPL: 343.26, +7.59, +2.26%) and Research in Motion (RIMM: 28.93, +0.08, +0.28%) are among six companies that bought out bankrupt Nortel Networks' portfolio of patents for $4.5 billion. Foreign Markets The English FTSE 100 gained 0.74% to 5,990, the French CAC 40 edged 0.63% higher to 4,007 and the German DAX rose 0.59% to 7,419. In Asia, the Japanese Nikkei 225 was up 0.53% to 9,868 and the Chinese Hang Seng soared 1.5% to 22,398.
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Dow up 56 as stocks surprise with a rebound

An early decline gives way to decent gains as traders shrug off worries about Europe and higher Chinese interest rates. The ISM non-manufacturing index slips. Oil moves lower; transports flirt with record highs. Netflix gets a downgrade.
By Charley Blaine on Wed, Jul 6, 2011 1:25 PM
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Updated: 7:55 p.m. ET Carefully, quietly, the stock market moved higher today as transportation, industrial and consumer-staples stocks gained. This performance may well be the pattern for the week as the market prepares for Friday's big jobs report. While the market was higher, bank and energy shares mostly moved lower. Crude oil (-CL) settled modestly lower, but gold (-GC) and silver (-SI) settled higher in New York. Weighing on the market have been an interest-rate increase in China and a weaker-than-expected report on the non-manufacturing economy from the Institute for Supply Management. The Dow Jones industrials ($INDU) closed up 56 points to 12,626, their first close above 12,600 since May 19. The Standard & Poor's 500 Index ($INX) was up 1 point to 1,339, and the Nasdaq Composite Index ($COMPX) added 8 points to 2,834. Article continues b elow.
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[BRIEFING.COM] Stocks traded listlessly again today. The lack of action comes after last week's heady advance, but precedes the payrolls report on Friday. ... More More Market News Stock Ticker Story Stocks Short Stories
The S&P 500 struggled for gains all day because of energy and financials, two of the three biggest sectors by market capitalization, which were both lower. Two factors helped the market, according to CNBC's Bob Pisani: After European markets closed, some of the selling pressure dissipated. European stocks were lower because of Moody's downgrade of Portuguese debt. Also, short-sellers have been forced to buy back shares at a premium. On Thursday, the market will deal with the weekly government report on jobless claims and the ADP National Employment Index, which looks at private-sector employment. In addition, major retail chains are expected to report June sales. Futures trading suggests stocks will open higher. Are the gains for transports bullish? Trucking company Con-Way (CNW), up 5.7% to $41.87, earlier had hit a 52-week high of $42.28. The Dow Jones Transportation Average ($DJT) hit a record intraday high of 5,577 before slipping back to 5,566, up 67 points, or 1.2%. The Dow Transports' performance is worth watching. Transportation companies' order books, particularly those of railroads, trucking companies and logistics companies like FedEx (FDX) and United Parcel Service (UPS), are often a signal of where the economy is headed. FedEx and UPS were up 1.3% to$ 96.78 and 1% to $74.50, respectively. Railroad operators CSX (CSX) and Union Pacific (UNP) were up 0.8% to $26.71 and 0.8% to $106.59, respectively.
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Dow up 56 as stocks surprise with a rebound

An early decline gives way to decent gains as traders shrug off worries about Europe and higher Chinese interest rates. The ISM non-manufacturing index slips. Oil moves lower; transports flirt with record highs. Netflix gets a downgrade. Gold climbs on Portugal downgrade Stocks rebound as market eyes jobs report Rising gold and oil, Portugal downgrade slow stocks
The Dow Transports are up 7.9% for the year. That beats the gains for the Dow, S&P 500 and Nasdaq. Gold jumps on European debt worries Light sweet crude oil in New York settled down 24 cents to $96.65 a barrel as the dollar moved higher against major currencies. Brent crude settled at $113.62, up a penny on the day. Gold settled at $1,529.20 an ounce, up $16.50 in New York. The metal is up 3.1% in just two days. Silver settled up 50.6 cents to $35.916 an ounce; it's up 6.6% this week. Copper (-HG) was off slightly to $4.335 a pound. The catalyst for gold was the worry created by the Portuguese debt downgrade. "Youre getting a flight-to-quality fear coming in for gold," Adam Klopfenstein, a senior market strategist at broker Lind-Waldock in Chicago, told Bloomberg News. The 10-year Treasury yield was at 3.095%, down from Tuesday's 3.136% and Friday's 3.197%. Energy prices -- New York close Wed. Crude oil (-CL) (per barrel) Heating oil (-HO) (per gallon) Natural gas (-NG) (per mil. BTU) Unleaded gasoline (-RB) (per gallon) $2.9976 $2.9774 0.96% 22.19% $4.2170 $4.3630 -3.59% -4.27% $2.9633 $2.9566 0.58% 16.50% $96.65 Tues. $96.89 Month chg. YTD chg. 1.29% 5.77%
Gold spikes on Greek debt uncertainty Debt uncertainty weighs on stocks What's ahead for the stock market VIDEO ON MSN MONEY
TODAY'S MSN STAFF PICKS Brent crude (per barrel) Retail gasoline (per gallon; AAA) ISM, Challenger Gray show a sluggish economy The market was disappointed at first by the ISM non-manufacturing index, which dropped to 53.3 in June from 54.6 in May. A reading above 50 means the sector is still growing, although a bit more slowly. The employment component was up slightly, while the new-orders component was off a bit. Neither was below 50, however. MORE FROM BING The report is "a reminder that the economy is still pretty sluggish," Paul Ashworth, chief U.S. economist for Capital Economics, wrote clients today. Where to find college scholarships The uptick in employment tracks with the economic consulting firm's projection that the Labor Department will report a gain of 125,000 jobs for June on Friday. The firm expects U.S. growth to accelerate in the second half; today's ISM report suggests the acceleration hasn't started yet. In fact, planned layoffs rose to 41,432 in June, according to outplacement firm Challenger, Gray & Christmas. That's the second monthly increase in a row, the firm said. But there was some good news: The pace of layoffs through the first half is the lowest since 2000. A rate increase in China The People's Bank of China said it will raise benchmark deposit and lending rates by 0.25%. The increase is the third this year as China continues trying to rein in inflation. The rate increase was a bit of a surprise. But outside the United States, rates have been drifting higher. The European Central Bank is expected to raise its benchmark rate by 0.25% to 1.25% on Thursday. DuPont, Intel, Caterpillar lead the Dow Nineteen of the 30 Dow stocks were higher, along with 49 stocks in the Nasdaq-100 Index ($NDX.X), which tracks the largest Nasdaq stocks. Caterpillar (CAT), Intel (INTC) and DuPont (DD) were the Dow leaders. Big staples stocks like Procter & Gamble (PG) and Wal-Mart Stores (WMT) gained as well. JPMorgan Chase (JPM) and Bank of America (BAC) were the laggards. Urban Outfitters (URBN), up 5.6% to $30.75, and F5 Networks (FFIV), up 2% to $115.82, were the top gainers among Nasdaq-100 stocks. Costco (COST) was third, up 1.7% to $82.64. Analysts expect Urban Outfitters and Costco to report decent results when major retailers report June sales on Thursday. Tips for avoiding mortgage scams What to know before you buy a car Do you need an umbrella insurance policy? Investing basics: How to start buying stocks Who can access your credit report? Best cars to crash in Bing: Yellowstone oil leak not sealed quickly Facebook adding Skype video calling $3.5690 $3.5620 0.79% 16.18% $113.62 $113.61 1.01% 19.92%
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Walgreen (WAG) gave retailers a boost, reporting a 6.8% overall gain in June sales. Same-store sales, a closely watched statistic, were up 4.8%. Walgreen shares were up 1.5% to $43.38. Urban Outfitters also led the S&P 500, followed by Compuware (CPWR), up 5.5% to $10.13, and oil refiner Tesoro (TSO), up 4.1% to $24.10. The company was raised to "overweight" from "equal weight" at Barclays Capital. Netflix gets downgraded Netflix (NFLX), the fourth-best performer among S&P 500 stocks this year with a 64% gain, was up 0.5% to $290.96 despite a rare downgrade from analyst Eric Wold of Merriman Capital. The shares hit an all-time high of $291.23 on Tuesday. In a note to clients, he cited: a year of tough year-to-year operating margin comparisons; the potential for incremental earnings pressures from international launches; and new -- and probably more expensive -- content relationships. Plus, the stock is near his target of $300 to $330. Netflix said Tuesday it plans a major expansion into Latin America. Microsoft (MSFT) was up 1.2% to $26.33. Social networking site Facebook announced a relationship with Skype, the video service provider. Microsoft, the publisher of MSN Money, is in the process of acquiring Skype. News Corp. (NWSA) shares were off 3.6% to $17.47 in the wake of an expanding scandal over hacking of private citizens' cell phones by the company's News of the World newspaper in England. The 4-year-old phone-hacking scandal widened this week after previously centering on celebrities, politicians and sports stars. The Guardian newspaper reported July 4 that a private detective working for the News of the World deleted messages from the voicemail of murdered schoolgirl Milly Dowler in 2002. CEO Rupert Murdoch deplored the hacking in his first statement ever on the topic. Major advertisers have been pulling ads from the newspaper. Short hits from the markets -- New York close Wed. Treasury yields 13-week Treasury bill 5-year Treasury note 10-year Treasury note 30-year Treasury bond Currencies U.S. Dollar Index British pound (in U.S. $) U.S. $ in pounds Euro in dollars (in U.S. $) U.S. $ in euros U.S. $ in yen U.S. $ in Chinese yuan Canada dollar (in U.S. $) U.S. dollar (in Canadian $) Commodities Gold (-GC) (per troy ounce) Copper (-HG) (per pound) Silver (-SI) (per troy ounce) Wheat (-ZW) (per bushel) Corn (-ZC) (per bushel) Cotton $1.1698 $1.1895 -26.79% -19.22% $6.1875 $6.2550 -1.63% -0.60% $6.2700 $6.3550 7.23% -21.06% $35.9160 $35.4100 3.11% 16.09% $4.3350 $4.3475 1.23% -2.52% $1,529.20 $1,512.70 1.76% 7.58% $0.966 $0.963 1.86% -3.14% $1.036 $1.039 -0.16% 3.24% 0.6990 81.10 6.49 0.6931 81.06 6.46 1.23% 0.24% 0.44% -6.48% -0.32% -1.89% 0.6253 $1.4306 0.6223 $1.4428 0.21% -1.22% -2.42% 6.92% 75.440 $1.5992 74.985 $1.6069 1.08% -0.21% -4.85% 2.48% 0.010% 1.648% 3.095% 4.354% 0.010% 1.695% 3.136% 4.390% -50.00% -6.04% -1.99% -0.64% -91.67% -18.25% -6.35% -0.18% Tues. Month chg. YTD chg.
(per pound) Coffee (per pound) Crude oil (-CL) (per barrel) $96.65 $96.89 1.29% 5.77% $2.6750 $2.6960 0.81% 11.23%
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34 Comments
NEWEST OLDEST BEST WORST CONTROVERSIAL 1 2
Active RIA don't get me started ... i can plagiarize with the best of 'em .... 1 1
33 minutes ago
Active RIA Stealth Stimulus or SS II
35 minutes ago
In the near term, the stealth stimulus, while it isn't QE3, should provide enough firepower to get the economy going again. The Fed won't tighten policy until hiring returns. And until tightening happens, real interest rates will continue to fall. The bond market is already beginning to price in a rosier outlook. The deflationary slowdown outlook that dominated in April and May has given way to a stabilization of inflation expectations. That's a good thing. And commodities like copper, crude and lumber are all moving off their lows in anticipation of a rebound in economic activity later this year. 1 1
Active RIA Your wish is our command ...
38 minutes ago
Rising inflationary pressures and Japanese supply chain woes (which I wrote about back in March have pulled down factory activity and consumer confidence. Housing is on the slide again. On Friday, we learned that this "soft patch" of growth has hit where it hurts most, in the job market. The May payroll report was disappointing. Payrolls increased by 54,000, a sharp decline from April's 232,000 gain and well short of the consensus estimate of 170,000. What's worse, Wall Street analysts had just furiously marked down their forecasts. Deutsche Bank cut from 300,000 last week to 225,000 on Tuesday to 160,000 on Wednesday. The unemployment rate jumped to 9.1%, up from More 2 2
Re-TOG Re-TOG (Re-TOG) When I was on my to the Forum; That there may be some "Stealth Stimulus."?? Something like the FED, plowing dividends and interest back into the system. That they collect from the holdings??
50 minutes ago
Not sure, but this might be some good research, for someone to follow-up on ? 1 2
Re-TOG Re-TOG (Re-TOG) ME.............Johnny....... 0 2
1 hour ago
Active RIA
1 hour ago
lol, weda, my man. no short-term traders in our shop (but of course a few wild and wooly peddle-to-the-metal trading accounts on the private side among some of the staff including individual stocks, chinese reverse merger stocks, and 2x and 3x UltraProShares and UltraShort Pro ETF's). as the owner and chief investment officer i must follow my advertising and "eat my own cooking" with our clients though and that means long-term, actively-managed portfolios. so, just like a solid (profitable) poker player, we constantly evaluate probability vs. possibility for the current risk/reward relationship. currently there exists an "UNPLEASANT SKEW" (i strongly recommend all investors google on "unpleasant skew hussman funds" and read the article. More 1 2
Active RIA
1 hour ago
thought-provoking post deccster. in our minds china could be a huge house of cards based on smoke and mirrors, hence we are defensive. a wise man once said:
it is easy to get into trouble (think apple and netflix) ........
and it is fairly easy to stay out of trouble (think cash and inverse bear funds) ..... BUT it is very, very, very difficult to get out of trouble once you are in it (think of a violent 25% lurch to the downside) ...... More 5 1
weda sheeple
1 hour ago
Active- "now then johnny, can you tell the class which direction the market is likely to take over the near-term? feel free to use the chalkb oard if you like ............ "
Uh up? Sideways? A bit up / slightly to the right? What? And...what's a chalkboard, dude? 1 2
zak001
2 hours ago
Active RIA ok class, let's review today's featured article, shall we?
2 hours ago
1. Weighing on the market have b een an interest-rate increase in China and a weaker-thanexpected report on the non-manufacturing economy from the Institute for Supply Management. 2. The S&P 500 struggled for gains all day b ecause of energy and financials, two of the three b iggest sectors b y market capitalization, which were b oth lower. 3. European stocks were lower b ecause of Moody's downgrade of Portuguese deb t. Also, shortsellers have b een forced to b uy b ack shares at a premium. More
2
4 hours ago
Nuad ormrac
I swear, reading to this article, it's as if the finance world has taken a trip down the rabbit hole, and into some sort of illusion of their own making. The word delussional would apply to those making decisions on the stock market right about now. 6 4
zamfph deccles03 well put....but gotta go and buy a new app 0 3
4 hours ago
deccles03 continued from below -
4 hours ago
The failure of leadership around the world is now complete. Nobody who needs to get it gets it. Our own money management team here in the USA is in a box even worse than Europe's. It's not even a hall of mirrors. It's a broke-down Winnebago with moldy upholstery and the propane line is leaking inside. Everybody's wondering if Ben Bernanke is going to light a cigarette. What else can he do? If he doesn't keep the QE-ZIRP racket going, the wheels will come off the Winnebago. If he lights that American Spirit, she'll blow. The US banking system can easily implode, anyway, if a European nation or two opts out of ECBperistroika. God knows who is a counter-party to whom in the mammoth international cluster**** of More 16 4
deccles03 continued from below -
4 hours ago
The proposed restructuring is all about the Great Fear that haunts the inner sanctums of finance (like the ghost of Caylee haunts America): counter-party obligations on a Burj Dubai of side bets over things such as the soundness of bonds and the movement of interest rates. The world of money imagines a thundering crash of cascading defaults as the various counter-parties are revealed to be broke, naked, and ashamed. And rightly so, because the creakings and groanings of this tower of paper will not only crash, but burn, too. The bankers can already smell it. Anyway, let's be clear that money has become a world unto itself now, a self-referential hall-ofmirrors that only sees itself and is increasingly confused by what it sees in that self. Outside that More 7 5
deccles03
4 hours ago
From the "news", you'd think the world was in a coma, but I swear I heard ominous bassoon phrases through the night rain... something large groaning out there in the dark. A great churn, coming closer. The world is in a box, tortured with its obsolete ideas about how economies are supposed to run, especially the money part, and the economists are clueless. A case in point: the eminent Vincent Reinhart at the Council of Foreign Relations. (Conspiracy theorists just shut your pie-holes):
"There are very few debt defaults... there are a whole lot of restructurings. For most of history, default is something the strong declare on the weak when they lose their patience And if you're members of the same club you're less likely to lose your More 8 2
save america
4 hours ago
I'm banned! Hide your retirement money, the Progressive desperately need money to stay in power. They need your retirement cash and will give you and iou. Taking money out of the stock market will cause it to crash. Hey, after all it's not really your money. Get in the game, it's time to make an investment in America! It is the only way
Osama can spend and spend and spend and spend. His last words as president were MO Money, Mo Money, Mo Money. MSN, there is no hyperlink in this message. Are you trying to tell me something? Give me a break! More 6 8
save america when compared to the rest of the world. 5 7
4 hours ago
it is a sorry state of affairs when our dollar, stock market and president seem to be doing OK, only
save america confidence to wake up tomorrow and face another day. 6 11
4 hours ago
YEAH! Obam twitters as Washington burns. The stock market rallies and I feel renewed. I have
Paul z (PinkFloyd1972) is as stupid does", because they keep getting "gumped" day in and day out.!!! 6 6
5 hours ago
So called "investors" on "broke street" seem to have forgotten Forrest's Mama's sage advice..."stupid
littlebigjon artificial bubble created by manipulation 13 6
5 hours ago
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The Hindu : Business / Markets : Sensex regains 19,000 level after 2 months
Business Markets
Sensex regains 19,000 level after 2 months
PTI
PTI The Bombay Stock Exchange benchmark Sensex rose by 351.33 points to 19,078.30, a level last seen on April 29. File photo
The BSE benchmark Sensex on Thursday spurted by over 350 points to regain 19,000 mark after more than two months as investors purchased blue-chips, led by Reliance Industries, on easing food inflation. The Bombay Stock Exchange benchmark Sensex spurted by 351.33 points to 19,078.30, a level last seen on April 29 as all the sectoral indices ended higher. Similarly, the broad-based National Stock Exchange index Nifty rose by 103.50 points to 5,728.95. It touched the days high of 5,737.15. Trading sentiment bolstered as food inflation fell for second week in a row to 7.61 per cent for week ended June 25 from 7.78 per cent in the previous week. Mixed Asian trend and higher opening in Europe as the investors awaited a decision from European Central Bank on interest rate to tackle high inflation. The rally was headed by Reliance Industries and Infosys, which have together 21 per cent weightage on the Sensex. RIL shot up by 2.08 per cent to Rs 870.35 and Infosys Technologies by 1.44 per cent to Rs 2,995.15. Stocks of RIL surged after the Oil Ministry referred its 7.2 billion dollar deal for sale of a stake in 23 oil and gas properties to the UK-based BP to the Cabinet Committee on Economic Affairs for approval. The FMCG sector index gained the most by rising 2.60 per cent to 4,086.83 as Nestle India rose by 0.68 per cent to Rs 4,296.55 and Hindustan Unilever by 1.79 per cent to Rs 335.45. The realty sector was the second best performer by adding 2.25 per cent to 2,183.40. As buying activity spilled over a widefront, the midcap sector index rose by 1.12 per cent to 7,039.52 and smallcap index by 1.08 per cent to 8,447.99. Keywords: BSE, sensex, closing trade
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MARKETS
Bulls Charge After Jobs, Retail Sales Data Boost Sentiment

By Adam Samson Published July 07, 2011 | FOXBusiness Print Email Share Recom m end
MARKET SNAPSHOT
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DJIA
12,719.49 42
6
+93.47 +0.74%
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2,872.66
+38.64 +1.36%
S&P 500
1,353.22
+14.00 +1.05%
FOX Business: The Power to Prosper Encouraging data on the labor market and retail sector stoked traders' confidence in the economic recovery, propelling the markets far into the green. Today's Markets The Dow Jones Industrial Average rose 93.5 points, or 0.74%, to 12,719, the S&P 500 climbed 14 points, or 1.1%, to 1,353 and the Nasdaq Composite rallied 38.6 points, or 1.4%, to 2,873. The FOX 50 gained 8.1 points to 946.
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The Nasdaq has soared 8.3% over the last eight days -- the best eight-day run in two years. The private sector tacked on 157,000 jobs last month, according to the ADP Employment Report. Wall Street had been looking for a much smaller increase of 68,000 jobs. Small businesses led the increase, adding 88,000 jobs, while large and medium sized businesses combined attributed 69,000 jobs. First time claims for unemployment benefits fell to 418,000 from a revised 432,000 the prior week. Economists forecast claims to have fallen to 420,000 for the week. Both reports lead up to the closely-followed release of the monthly employment situation from the Labor Department on Friday. Economists predict the unemployment rate will remain steady at 9.1% as the economy adds 90,000 jobs. The jobs market was hit hard during the economic downturn, with the unemployment rate peaking at 10.1% in October 2009. The pace of recovery has been slow, and recent shocks caused by high energy prices and layoffs caused by manufacturing slowdowns related to the earthquake that slammed Japan have put additional pressure on the labor market, many analysts say. Sales by retailers like wholesale club Costco (COST: 82.06, -0.58, -0.70%) and high-end clothing store Saks (SKS: 11.70, +0.29, +2.54%) largely topped analysts forecasts. On the whole, major stores posted a 6.9% year-to-year gain in June, according to statistics compiled by International Council of Shopping Centers. "This is a good report since it clearly indicates that chain store retailers are benefiting from falling gasoline prices," wrote Chris Christopher, senior principal economist at IHS Global Insight, in a research note. "Many retailers were offering lower prices to lure shoppers into their stores it
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seems to have worked." Gains in energy markets heated up, with gasoline and oil settling at the highest levels in three weeks, amid hopes a more robust economic recovery will mean increasing demand for energy. Crude stocks fell 889,000 barrels last week, short of the 2.3 million barrel draw LAST 5 STOCKS analysts estimated. However, gasoline inventories were down 634,000 barrels, opposed to forecasts of a 100,000 barrel build. Lower levels of supply can FOX50 push prices higher. FOX 50 INDEX Light, sweet crude gained $2.02, or 2.1%, to $98.67 a barrel. Wholesale RBOB gasoline soared 13 cents, or 4.3%, to $3.13 a gallon. Prices at the pump have been ticking higher over the last two days. A gallon of regular gasoline costs $3.58 on average nationwide, lower than $3.76 last month, but well above the $2.72 drivers paid last year, according to the AAA Fuel Gauge report. In metals, gold climbed $1.40, or 0.09%, to $1,531 a troy ounce. Silver jumped 62 cents, or 1.7%, to $36.54. The European Central Bank boosted interest rates by 0.25% to 1.5% as was expected, as it works to keep inflation in check. The Bank of England, however, held rates steady. While higher rates help reduce inflation, they can also slow down economic expansion.
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The euro gained 0.27% against the U.S. dollar and the greenback fell 0.1% against a basket of world currencies. Corporate News Retail sales... Target (TGT: 51.67, +3.23, +6.67%) said its sales in stores open at least a year were up 4.5%, also beating forecasts of 3.2%. Costco Wholesale (COST: 82.06, -0.58, -0.70%) posted a 14% jump in same-store-sales last month, topping estimates of a 12.7% increase. Macy's (M: 30.46, +1.59, +5.51%) same-store-sales climbed 6.7%, a better reading than the 5.1% analysts expected. Elsewhere in corporate news... NYSE Euronext (NYX: 35.40, +1.04, +3.03%) shareholders approved a merger with Deutsche Boerse, a critical step in seeing the takeover over the parent of the New York Stock Exchange come to fruition. News Corp. (NWS: 17.93, -0.01, -0.06%) said Sunday will be the final edition of the News of the World British tabloid, which has been at the center of a hacking scandal in the U.K. News Corp. is the parent of a slew of media companies, including the FOX Business Network and FOXBusiness.com. Apple (AAPL: 357.20, +5.44, +1.55%) said its App Store downloads have topped 15 billion, and it has paid developers over $2.5 billion to date. eBay (EBAY: 33.33, +0.41, +1.25%) acquired payment processor Zong for roughly $240 million in cash. Foreign Markets The English FTSE 100 gained 0.92% to 6,058, the French CAC 40 climbed 0.6% to 3,985 and the German DAX rose 0.59% to 7,475, In Asia, the Japanese Nikkei 225 fell 0.11% to 10,071. The Chinese Hang Seng edged higher by 0.06% to 22,530.
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Debt Hopes Trigger Dow's Best Day of 2011

By Adam Samson Published July 19, 2011 | FOXBusiness Print Email Share Comments Recommend 64
MARKET SNA
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95
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+202.26 +1.63%
FOX Business: The Power to Prosper Wall Street cheered progress on the debt ceiling negotiations, upbeat corporate earnings and positive housing data, propelling the Dow to its best daily performance this year. Today's Markets The Dow Jones Industrial Average Reuters soared 202 points, or 1.6%, to 12,587, the S&P 500 climbed 21.3 points, or 1.6%, to 1,327 and the Nasdaq Composite rose 61.4 points, or 2.2%, to 2,827. The FOX 50 rose 14.5 points to 940. The so-called "gang of six" U.S. senators proposed a plan that would cut the budget deficit by $3.75 trillion over the next decade and reform the tax code. If the deal, which received a nod from President Barack Obama, garnered broad approval from Congress, it could break the deadlock over raising the debt ceiling, which has been looming over Wall Street for weeks.
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"Anything that pointed to a completion of the debt ceiling debate was going to be treated as a positive," said Frederic Dickson, chief investment strategist at D.A. Davidson & Co. Traders also focused on a bout of corporate earnings and economic data. Additionally, International Business Machines' (IBM: 185.21, +9.93, +5.67%) blockbuster performance helped boost traders' sentiment on the day.
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New housing starts leaped 14.6% to an annualized rate of 629,000 in June, Citigroup Inc. easily beating estimates of 575,000. Permits to build new homes increased by a Wall Street Journa slower 2.5% to an annualized rate of 624,000, also topping forecasts of 600,000. Wall Street
The industry for new homes has been struggling to recover because of a glut of houses on the market, and generally poor housing market conditions. Homebuilers like KB Home (KBM) may be particularly affected by these data. Earnings' 'Halo' Effect IBM leaped 5.7% -- its biggest percentage gain since March 2009, which added roughly 70 points to the Dow's 202 point rally. The computing behemoth revealed a full-year profit outlook that topped analysts forecasts and instilled confidence that it would adapt to quickly-changing hardware and software preferences after the close of trading on Monday. Upbeat earnings by numerous big-name companies "essentially put a halo over the market on the earnings front," Dickson said. Dow components Bank of America (BAC: 9.57, -0.15, -1.54%), Johnson & Johnson (JNJ: 66.72, -0.37, -0.55%) and Coca-Cola (KO: 69.32, +2.20, +3.28%) all reported before the opening bell. BofA unveiled a net loss of $8.8 billion, or 90 cents a share, compared with a profit of $3.1 billion, or 27 cents, the year prior. The biggest U.S. bank by assets' loss was in line with analysts expectations. Johnson & Johnson (JNJ: 66.72, -0.37, -0.55%) posted a profit of $1.28 a share, excluding charges, on $16.6 billion in sales. Wall Street was expecting the maker of medical products to earn $1.24 a share on $16.23 in revenue. Coca-Cola (KO: 69.32, +2.20, +3.28%) posted net income of $1.17 a share, excluding one-time charges, on $12.7 billion in sales. The beverage maker beat earnings expectations by a penny, and topped earnings expectations by 360 million. Goldman Sachs (GS: 128.49, -0.84, -0.65%) earned $1.85 a share on revenue of $7.3 billion, far shy of estimates of $2.27 a share on $8.14 billion in sales. Shares of the investment banking giant pared early losses, though, still closed lower. Technology behemoth Apple (AAPL: 376.85, +3.05, +0.82%) is set to reveal its earnings after the closing bell. Energy markets got a bounce after slumping in the prior session. Light, sweet crude jumped $1.57, or 1.6%, to $97.50 a barrel. Wholesale RBOB gasoline climbed 2 cents, or 0.56%, to $3.11 a gallon. Consumer gasoline prices were stable overnight, but have been on a trend higher. A gallon of regular gasoline costs $3.68 on average nationwide, up from $3.65 last month and well higher than the $2.72 drivers paid last year, according to the AAA Fuel Gauge report. Gold fell $1.30, or 0.08%, to $1,601 a troy ounce after settling at an all-time high on Monday. Silver fell 12 cents, or 0.3%, to $40.22 a troy ounce. In the foreign exchange market, the euro gained 0.23% on the U.S. dollar, while the greenback fell 0.46% against a basket of world currencies. Corporate News News Corp. (NWSA: 15.79, +0.82, +5.51%) top executives Rupert and James Murdoch testified before U.K. parliament amid a widening investigation into a phone hacking scandal that forced the shutdown of the News of the World. News Corp. owns a slew of media entities including FOX Business Network and FOX
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Business.com. Wells Fargo (WFC: 28.41, +1.53, +5.69%) unveiled profits of 70 cents a share on $20.4 billion in sales for the second quarter, topping earnings forecasts of 68 cents, but falling slightly short of the $20.5 billion revenue expectation. Foreign Markets European shares snapped back after selling off in the prior session. The English FTSE 100 gained 0.65% to 5,790, the French CAC 40 jumped 1.2% to 3,695 and the German DAX climbed 1.2% to 7,193. In Asia, the Japanese Nikkei 225 fell 0.85% to 9,890 and the Chinese Hang Seng rose 0.45% to 21,902.
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Wall Street up on profits, Apple surges late
By Ashley Lau | Reuters 1 hr 21 mins ago
NEW YORK (Reuters) - Stocks recorded their best day since March on Tuesday after strong corporate results and renewed hope for an agreement in Washington on thorny budget issues boosted investor confidence. Quarterly numbers from technology bellwether International Business Machines Corp and Coca-Cola lifted technology and consumer shares in the first heavy week of second-quarter results. IBM gained 5.7 percent, leading the Dow's gainers. The Nasdaq gained more than 2 percent, led by big-cap tech, including Apple , which hit a 52-week high during regular trading. After the market closed, the maker of iPhones and iPads reported revenue well above analysts' estimates, sending its shares up 6.7 percent to $402. Nasdaq 100 index futures rose 22 points, indicating a higher open for stocks on Wednesday. "The market has been looking for leadership and it hasn't been getting it from finanicals... The fact that tech companies can deliver or exceed results gives markets hope that stocks can rise, even given broader macro concerns," said Nicholas Colas, chief market strategist at the ConvergEx Group. In Tuesday's session, the S&P information technology sector <.GSPT> was the best performing sector, gaining 2.7 percent. Markets gained momentum late in the day after President Barack Obama suggested progress was being made toward a $3.75 trillion deficit reduction deal centered around entitlement reform. The White House and Congress also need to sign an agreement that includes an increase in the federal debt ceiling by August 2 or the United States could default on its debt. "Stocks are starting to bounce at least for the time being, with people wagering that there will be a resolution on the debt ceiling," said Wayne Kaufman, chief market analyst at John Thomas Financial in New York. Among financial shares, Goldman Sachs Group Inc and Bank of America ended down following their earnings results. After advancing in the morning, Bank of America shares fell 1.5 percent to $9.57, while Goldman declined 0.6 percent to $128.49. Wells Fargo shares jumped 5.7 percent, the biggest gain on the S&P financials index, after the bank said its profit rose 30 percent. "In terms of the overall earnings season, I'd say things have been pretty good so far," said Phil Orlando, chief equity strategist at Federated Investors. The Dow Jones industrial average <.DJI> was up 202.11 points, or 1.63 percent, at 12,587.27. The Standard & Poor's 500 Index <.SPX> was up 21.27 points, or 1.63 percent, at 1,326.71. The Nasdaq Composite Index <.IXIC> was up 61.41 points, or 2.22 percent, at 2,826.52. Goldman's second-quarter net income fell short of lowered expectations as fixed income trading revenue dropped sharply. Bank of America recorded a second-quarter net loss of $8.8 billion. Coca-Cola Co posted slightly higher-than-expected profit. Shares rose 3.3 percent to $69.32. Housing starts hit a six-month high in June. The PHLX Housing Index <.HGX> rose 3 percent. Volume was light with about 7.01 billion shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq, below the daily average of 7.49 billion.
About four stocks rose for every one that fell on the New York Stock Exchange and the Nasdaq. (Reporting by Ashley Lau; Additional reporting by Daniel Bases; Editing by Kenneth Barry)
(c) Copyright Thomson Reuters 2011. Check for restrictions at: http://about.reuters.com/fulllegal.asp Copyright 2011 Yahoo! Inc. All rights reserved. | Yahoo! News Network | /
The Hindu : Business / Markets : Sensex jumps to 7-day high on HDFC ...
Business Markets
Sensex jumps to 7-day high on HDFC Q1 results, firm global cues
PTI
AP The BSE benchmark Sensex on Tuesday surged 147 points to a weeks high of 18,653.87, led by gains in realty, IT and banking stocks.
Reversing losses from the previous two sessions, the BSE benchmark Sensex on Tuesday surged 147 points to a weeks high of 18,653.87, led by gains in realty, IT and banking stocks like SBI amid better-than-expected quarterly results posted by HDFC Bank and a firm global trend. The 30share index, which had shed 111 points in last two runs, had a jittery start and touched a low of 18,481.83. However, value buying in recently battered chips pushed it up by 146.83 points to 18,653.87. Broad-based National Stock Exchange index Nifty rose by 46.50 points to 5,613.55. The Sensex rally was led by buying in SBI, ICICI Bank, Infosys, Tata Consultancy Services, Reliance Industries, Bajaj Auto, Tata Power and, Larsen and Toubro stocks as investors snapped off bargain deals on positive momentum unleashed by a better-than-expected first quarter earnings by HDFC Bank. Third largest lender HDFC Bank today reported a 33.7 per cent growth in its net profit at Rs. 1,085 crore for the first quarter ended June, 2011. Industry leader Reliance Industries rose by 1.39 per cent to Rs. 879.15 while IT bellwether and Sensexs second heaviest scrip Infosys surged 1.45 per cent to Rs. 2,753.35 a piece. IT stocks regained strength after the worlds biggest computer-services company IBM posted strong revenues and boosted fullyear earnings forecast. Banking index also gained led by surge in largest lender SBI and biggest private lender ICICI Bank that rose 1.59 per cent and 1.18 per cent respectively. Keywords: share markets, stock markets
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Bulls Charge: Dow Soars 1.2% on Debt Hopes, Earnings

By Adam Samson Published July 21, 2011 | FOXBusiness Print Email Share Comments
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FOX Business: The Power to Prosper News that United States and European authorities were getting closer to tackling regional sovereign debt crises combined with rosy second-quarter earnings reports from several big-name companies sent the blue chips soaring more than 1% on Thursday. Today's Markets The Dow Jones Industrial Average soared 153 points, or 1.2%, to 12,724, the S&P 500 rose 18 points, or 1.4%, to 1,344 and the Nasdaq Composite jumped 20.2 points, or 0.72%, to 2,834. The FOX 50 gained 11.1 points to 951. French President Nicolas Sarkozy outlined a plan that would help stabilize the volatile Greek debt crisis that has captivated world markets in recent weeks. Greece, with its nearly $500 billion public debt load, which amounts to 150% of its economic output, has been on the brink of default and in need of a rescue. Indeed, many analysts feared a default could cascade to larger European economies, such as Italy. Under the plan outlined by Sarkozy, European lenders would create a fund that will lend to the embattled nation at between 3.5% to 4%, while private banks will lengthen maturity of their debt from Greece to 30 years. Taken together, these steps will cut the country's public debt by roughly 24%. It is unclear whether ratings companies will consider the steps a so-called technical default, however. The European Financial Stability Facility -- which was established in 2010 to aid during difficult times in bond markets -- will also be empowered to provide assistance in the European bond market when necessary. News of a draft of this plan broke earlier in the day, sending European stock climbing. The euro also hit session highs, soaring 1.1%. Earnings season is in full swing this week, with nearly half of all Dow components reporting quarterly profits. Among them, AT&T (T: 30.28, +0.05, +0.17%), Travelers (TRV: 57.69, +0.63, +1.10%) and Microsoft (MSFT: 27.10, +0.04, +0.13%) report on Thursday.
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AT&T revealed it earned 60 cents a share in the second quarter, topping expectations by a penny. Travelers lost 91 cents a share, a far wider loss than the 64 cents analysts expected. The insurer was hit hard by claims related to tornadoes that slammed the U.S. Morgan Stanley unveiled a loss of 38 cents a share, better than the 62 cents Wall Street forecast. Sales got a big boost in on the news. Markets got a boost mid-day boost on a report by the New York Times that President Barack Obama and Speaker of the House John Boehner were close to a major deal on the U.S. debt ceiling. However, both sides quickly denied the report, with Boehner tweeting "false" in response to the report. Weekly claims for unemployment benefits rose to 418,000 from a revised 408,000 last week, according to the Labor Department, a higher number than the 410,000 economists had expected. The labor market has been a major focus after the monthly unemployment report for June showed dismal job growth. Additionally, claims have been stuck above the closely-watched 400,000-level for several weeks. Manufacturing in the Philadelphia area increased more than expected in July. The Philadelphia Federal Reserve's survey of business conditions rose to 3.2 from -7.7 on the month, topping estimates of a reading of 2. Readings above 0 indicate expansion, while those less than 0 point to contraction. A regional report by the New York Fed had come in below expectations earlier in the month. Also on the corporate front, Express Scripts (ESRX: 55.36, +2.82, +5.36%) said it plans on acquiring its rival Medco Health Solutions (MHS: 63.83, +8.05, +14.43%) for $29.1 billion in cash and stock. Energy markets were mixed despite a weakening dollar. Light, sweet crude gained 73 cents, or 0.74%, to $99.13 a barrel. Wholesale RBOB gasoline tumbled 5 cents or 1.5%, to $3.10 a gallon. Gasoline prices on the consumer level are once again making their way higher. A gallon of regular at the pump costs $3.69 on average nationwide, up from $3.64 last month and well higher than the $2.72 drivers paid last year, according to the AAA Fuel Gauge report. Gold fell $9.90, or 0.62%, to $1,587 a troy ounce. Silver slid 61 cents, or 1.5%, to $38.95 a troy ounce. Corporate News Goldman Sachs (GS: 135.58, +2.83, +2.13%) won dismissal of a suit that alleged the investment bank mislead investors in a certain collateralized debt obligation, 2007-1. Foreign Markets The English FTSE 100 rose 0.79% to 5,900, the French CAC 40 jumped 1.7% to 3,817 and the German DAX climbed 0.95% to 7,290. In Asia, the Japanese Nikkei 225 rose 0.04% to 10,010 and the Chinese Hang Seng edged lower by 0.07% to 21,987.
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Quotes delayed at least 15 minutes. Real-time quotes provided by BATS Exchange. Market Data provided by Interactive Data (Terms & Conditions). Powe Managed Solutions. Company fundamental data provided by Morningstar. Earnings estimates data provided by Zacks. Mutual fund data provided by Lipper Jones & Company Terms & Conditions. This material may not be published, broadcast, rewritten, or redistributed. 2011 FOX News Network, LLC. All rights reserv
The Hindu : Business News : Sensex vaults 440 points; regains 16K level
http://www.thehindu.com/business/article2518047.ece
Business
Sensex vaults 440 points; regains 16K level
PTI
Snapping a four-day losing streak, the BSE benchmark Sensex on Friday surged by 440 points to regain the 16,000-level on buying by funds in fundamentally strong stocks available at attractive low levels after recent fal The Sensex, which had lost 905 points in last four trading sessions, bounced back by 440.13 points, or 2.79 per to 16,232.54 points. The gauge had touched a high of 16,347.48, a gain of over 555 points, during the day but reports of a higher infl and a weakening trend in European stocks reduced the gains. The food inflation rose to 9.41 per cent for the week ended September 24 from 9.13 per cent in the previous wee The broad-based National Stock Exchange index Nifty shot up by 136.75 to 4,888.05. Brokers said buying after a long spell of losses emerged as investors picked stocks of fundamentally strong companies amid firming trend in the Asian region. Reliance Industries and Infosys, which have 20 per cent weightage together in Sensex, ended with hefty gains. R shot up by 4.46 per cent to Rs 801.45 and Infosys by 2.15 per cent to Rs 2,507.05. Tata Consultancy Services and Wipro also ended higher on expectations of easing sovereign debt crisis in euroz The metal sector index gained the most by adding 5.39 per cent to 10,910.32 as index-linked Sterlite Industries up by 8.56 per cent to Rs 113.45. The banking index was the second best performer by rising 3.88 per cent to 10,347.84 as State Bank of India, th largest lender, rallied 2.13 per cent to Rs 1,751.85 on reports the bank might cut its holdings of government bon and boost lending to companies. Keywords: Sensex, stock markets
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07-Oct-2011 10:16 AM
The Hindu : Business / Markets : Sensex jumps 325 points led by RIL, In...
Business Markets
Sensex jumps 325 points led by RIL, Infosys amid firm global markets
PTI
The BSE benchmark Sensex advanced for the second day today, adding about 325 points on sustained buying by f in blue-chips led by Reliance Industries and Infosys, amid firm global trend on easing concerns over the euro-zon crisis. The Bombay Stock Exchange 30-share index, Sensex, which had gained 440 points in the previous session, spurte another 324.69 points to close the day at 16,557.23. Similarly, the broad-based National Stock Exchange index Nifty spurted by 91.55 points to 4,979.60. A firm trend in Asia and higher openings in Europe, as Germany and France pledged to shield troubled banks in t region, bolstered trading sentiment. RIL jumped the most, gaining 3.30 per cent. IT bellwether Infosys shot up 3.36 per cent, ahead of its quarterly res The two carry around 20 per cent weight in the Sensex. Other IT firms gained as well, with TCS rising 2.03 per cent; Wipro, 4.42 per cent and HCLT, 2.41 per cent. Tata Motors zoomed up 7.40 per cent. In all, 25 of the 30 Sensex counters ended with gains while other five ended lower. Besides, barring healthcare, all the 13 sectoral indices remained in the positive zone, led by realty, IT and refinery The realty sector index gained the most - up 3.22 per cent to 1,791.84, followed by IT that rose 2.85 per cent to 5,390.67. Consumer Durables rose 2.78 per cent to 6,522.34 and Oil and Gas by 2.72 per cent to 8,681.20. Keywords: share markets, sensex
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10-Oct-2011 10:37 AM
The Hindu : Business / Markets : Sensex up by 533 points in early trade
Business Markets
Sensex up by 533 points in early trade
PTI
Stock brokers react while watching Bombay Stock Exchange index on their trading terminals in Mumbai. File Photo: Shashi As
The BSE benchmark Sensex gained 533 points in early trade today on all-round buying by operators and investors the wake of a four-session losing streak. The BSE benchmark Sensex resumed higher at 16,222.49 and shot up further to 16,347.48 before quoting at 16,32 at 1015 hours, a sharp rise of 533.14 points, or 3.38 per cent, from its last close. The National Stock Exchanges (NSE) 50-share Nifty Index was also up by 166.85 points, or 3.51 per cent, at 4,918 1015 hours. All the 13 sectoral indices on the BSE were in the green. Metal stocks surged after the London Metal Exchange, a gauge of six metals, jumped by 4.4 per cent yesterday. IT stocks rose on positive economic data from the US, the largest outsourcing market for the Indian IT firms. The major gainers in early trade were Jindal Steel (up 7.50 per cent), Sterlite Industries (7.18 per cent), Tata Moto (6.55 per cent), ICICI Bank ((6.42 per cent), DLF (6.01 per cent) and Wipro (4.91 per cent). Asian stocks rose sharply in early trade, making a broad-based advance on fresh indications that Europe is rampin efforts to shore up its financial system and prevent another global banking crisis. The key benchmark indices in Hong Kong, Japan, Singapore, South Korea and Taiwan were up by between 1.14 pe cent and 3.17 per cent. Keywords: Sensex, BSE, Nifty, stock market
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10-Oct-2011 10:38 AM
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Markets Discover 330-Point Rally on Columbus Day Amid Euro Hopes

By Matt Egan Published October 10, 2011 | FOXBusiness Print Email Share Recom m end 46
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FOX Business: The Power to Prosper.DJIA-DI,USD,NORM Wall Street celebrated Columbus Day with a 330-point buying binge on the Dow as traders around the world breathed a sigh of relief that European leaders pledged to bolster their banks and the markets look ahead to the start of earnings season. Today's Markets The Dow Jones Industrial Average soared 330.06 points, or 2.97%, to 11433.18, the Standard & Poor's 500 jumped 39.43 points, or 3.41%, to 1194.89 and the Nasdaq Composite leaped 86.70 points, or 3.50%, to 2566.05. The FOX 50 gained 28.49 points, or 3.38%, to 872.36.
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While bond markets in the U.S. were closed for the holiday, the bulls on Wall Street did anything but stay home, sending the blue chips to their biggest oneday point gain since August 11. Rallying for the fourth time in five sessions, the benchmark index has surged about 775 points over the past week amid signs Europe is finally racing to get its debt debacle under control before it sends the U.S. to a double-dip recession. I think market sentiment has shifted to a modestly positive tone. Current pricing is, frankly, relatively cheap relative to what earnings should be, said Peter Kenny, managing director at Knight Capital. Kenny also said, The tone out of Europe has become a lot more constructive over the last week or so thanks to pretty aggressive, very proactive policy initiatives spearheaded by both France and Germany. Over the weekend German Chancellor Angela Merkel and French President Nicolas Sarkozy promised to take action before the end of October to fix the continent's debt mess and shore up their banks. The leaders of the two largest euro-zone countries said they are close to a deal to recapitalize embattled European lenders. However, Merkel and Sarkozy stopped short of laying out specifics of a plan.
Belgium to Pay $5.4B to Nationalize Bank Dexia
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Because of Europe's ties to the global financial and economic systems, the deepening sovereign debt crisis has hurt stocks and growth around the world in recent months. In another sign Europe is attempting to get the crisis under control, France and Belgium quickly teamed up to nationalize and break up municipal lender Dexia, which had been teetering on the verge of collapse due to its enormous exposure to Greek bonds. Dexia, which appears to be the first banking victim of the current crisis, quickly reached a deal to receive $121 billion in state guarantees and sell its Belgium unit to the government for $5.4 billion. They werent playing games with that. It wasnt dragged on, for a change, said Kenny. Earnings Season Looms Tech stocks also rallied in the U.S. as Apple (AAPL: 388.81, +19.01, +5.14%) said it sold a record 1 million iPhone 4S devices in a single day and IBM (IBM: 186.62, +4.23, +2.32%) hit a new record high. All 30 blue-chip stocks landed in the green, led by banking giants Bank of America (BAC: 6.28, +0.38, +6.44%) and JPMorgan Chase (JPM: 32.30, +1.60, +5.21%). Economically-sensitive stocks like Caterpillar (CAT: 79.13, +3.61, +4.78%) and General Electric (GE: 16.14, +0.64, +4.13%) also rallied, while safer plays such as McDonalds (MCD: 88.51, +1.31, +1.50%) and Procter & Gamble (PG: 64.80, +0.89, +1.39%) saw smaller percentage gains. Commodities weren't left out of the Columbus Day rally as crude oil soared $2.43, or 2.93%, to $85.41 and gold gained $35.00 a troy ounce, or 2.14%, to $1,674.40. Meanwhile, Wall Street is gearing up for the start of another earnings season, which is set to kick off after Tuesday's closing bell when aluminum maker Alcoa (AA: 10.09, +0.38, +3.91%) releases its quarterly results. Whether or not companies are able to meet and even exceed expectations for earnings is likely to be a key driver for stocks for the next several weeks. Financial stocks are expected to disclose steep declines in quarterly profits. Its worth noting Mondays big rally was backed up with little volume due to the holiday. Typically investors would like to see more conviction behind big moves. There was remarkably little volatility during most of the session as the Dow moved in a tight trading range of less than 50 points until the final burst of buying. Last week U.S. stocks stopped their slump, with the Dow rallying 1.7% and the Nasdaq Composite leaping almost 3% amid hopes policymakers in Europe are finally taking the crisis seriously. However, stocks closed in the red on Friday as enthusiasm for a better-than-expected jobs report was drowned out by a credit ratings downgrade for both Spain and Italy.
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If the European debt crisis were to suddenly disappear, stocks would appear very cheap (some would say dirt cheap), but of course the uncertainty over the debt crisis remains the critical wildcard, Bob Doll, chief equity strategist at BlackRock, wrote in a note. Corporate Movers Netflix (NFLX: 111.62, -5.59, -4.77%) abandoned its unpopular plan to separate its DVD-by-mail service and rename it Qwikster, caving to customer dissatisfaction. The company's stock initially leaped on the announcement, but then retreated on a downgrade to "neutral" from "outperform" by Wedbush. Sprint Nextels (S: 2.22, -0.49, -18.08%) stock plunged another 8% to 2009 levels after a slew of analysts downgraded the No. 3 wireless company. Sprints stock has been in free fall on concerns about the need to raise more cash due to costly plans to roll out its own 4G network and sell the iPhone. Yahoo! (YHOO: 15.84, +0.37, +2.39%) jumped 2% as Reuters reported co-founder Jerry Yang is interested in teaming up with private-equity firms to take the struggling Internet giant private. Meanwhile, Bain Capital has emerged as another potential suitor for Yahoo! and Chinese Internet company Alibaba has reportedly held talks with Singapores Temasek about providing financing to buy the 40% investment Yahoo! holds in itself. Superior Energy (SPN: 23.63, -3.78, -13.79%) agreed to be acquire energy services company Complete Production Services (CPX: 28.42, +8.04, +39.45%) for $6.2 billion. The $32.90-a-share deal represented a 62% premium on Completes close on Friday. Global Markets London's FTSE 100 rose 1.80% to 5399.00, Germany's DAX surged 3.02% to 5847.29 and France's CAC 40 rallied 2.13% to 3161.47. In Asia, the Japanese Nikkei 225 was closed for a holiday, but Hong Kong's Hang Seng inched up 0.02% to 17711.10.
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Markets Discover 330-Point Rally on Columbus Day Amid Euro Hopes

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The Hindu : Business News : Sensex vaults 422 points as Infosys beats es...
Business
Sensex vaults 422 points as Infosys beats estimates
PTI
Employees at a stock broker's office in Mumbai. Photo: Vivek Bendre
The BSE barometer Sensex on Wednesday jumped by 422 points to close at a one-month high as investors chee better quarter earnings by IT bellwether Infosys amid a firming global trend. The 30-share index spurted by 421.92, or 2.55 per cent, to 16,958.39 points, the highest closing since Septembe The broad-based National Stock Exchange index Nifty also rose by 125.05, or 2.51 per cent to 5,099.40, after crossing a crucial 5,100 mark level in the intra-day trading. A better closing in the Asian region and firming trend in Europe further bolstered the trading sentiment, even a domestic industrial output rose less than expected. Infosys, the second heaviest on the Sensex, rallied 6.83 per cent to Rs 2,680.50, its highest level since first week August, while the most heaviest refinery major Reliance Industries spurted by 2.86 per cent to Rs 849.50. The largest software exporter Tata Consultancy Services jumped up by 3.66 per cent to Rs 1,079.35 and Wipro b 2.71 per cent to Rs 350.70 on expectations an improvement in the global market would boost their business. Among the 30 index stocks, 27 scrips closed with gains. All the 13 sectoral indices led by IT, Teck, Bank and Realty closed significantly higher. State-run lender State Bank shot up by 6.07 per cent to Rs 1,872.25. ICICI Bank, the second-biggest lender, gain 3.24 per cent to Rs 859.95, while HDFC Bank rose by 2.08 per cent to Rs 467.15 on interested buying. Keywords: Sensex, Mumbai stock exchange
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12-Oct-2011 11:14 AM
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Dow Soars as Double-Dip Fears Continue to Fade

By Matt Egan Published October 12, 2011 | FOXBusiness Print Email Share Comments Recom m end 6
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FOX Business: The Power to Prosper The red-hot stock markets continued their October surge on Wednesday amid a growing sense that the U.S. will easily avert a double-dip recession and Europes debt mess wont spiral out of control. However, a late-day slide halved the session's gains and prevented the blue chips from climbing back into the black for the year. Today's Markets The Dow Jones Industrial Average jumped 102.55 points, or 0.90%, to 11518.85, the Standard & Poor's 500 gained 11.71 points, or 0.98%, to 1207.25 and the Nasdaq Composite leaped 21.70 points, or 0.84%, to 2604.73. The FOX 50 added 8.86 points, or 1.01%, to 883.31. While the Dow failed to close above the 11577 level needed to recapture positive territory for 2011, the markets extended what has been an incredible stretch of trading as bearish sentiment has faded. Highlighted by a 330-point Columbus Day surge, the blue chips have soared 863 points, or 8.1%, since hitting 2011 lows on October 3. Wednesday's big gains left the benchmark index at its highest level since August 31. The overall move has been really dramatic. I think it caught most everyone by surprise, said Peter Kenny, managing director at Knight Capital Group. There didn't appear to be any major triggers for the last-minute selloff from the day's highs, but some market players may have been attempting to lock in some gains after the big run up. Most traders were more impressed by Wall Street's newfound resiliency, which was on full display Wednesday morning. The markets mostly shrugged off Alcoa's (AA: 10.05, -0.25, -2.43%) earnings dud and Slovakia's initial failure to authorize the euro-zone's all-important rescue fund. I think thats a testament to the shift in investor psychology in a weeks timeframe. If this had hit a week ago, we wouldnt have seen the strength we started off with, said Michael James, managing director of equity trading at Wedbush Securities. The market continues to be dominated by traders and trader sentiment. As weve seen, that sentiment can shift from bearish to bullish in a pretty short time frame. Edward Dempsey, chief investment officer at Pension Partners, told FOX Business the market could be experiencing a melt-up. He pointed to a number of factors, including slumping bond markets, trailing defensive stocks and outperformance by high-risk stocks, The market was pricing in a Lehman like eventthat hasnt happened, said Edward Dempsey, chief investment officer at Pension Partners. "You can have a melt-up in this environment, meaning the reaction off the low can be extremely violent. Buying really picked up steam after the Slovak opposition leader said his party has reached a deal to ratify the $600 billion rescue fund that is seen as crucial to stabilizing Europe's debt debacle. The comments come after the Slovak Parliament rejected the measure, which has been passed by 16 of the 17 euro-zone nations. Underscoring expectations the rescue fund will eventually be approved, the euro rallied 1% to one-month highs against the dollar and European banks like Deutsche Bank (DB: 29.28, +1.44, +5.15%) soared. Votes in favor of the stronger rescue fund and pledges to recapitalize the continent's banks have sent global stocks soaring in recent days. While Alcoa started earnings season off on a disappointing note, many are still hoping for a better-thanexpected performance from most of corporate America. Results from banking giant JPMorgan Chase (JPM: 33.20, +0.90, +2.79%) and search titan Google (GOOG: 548.50, +5.32, +0.98%) are expected later this week and PepsiCo's (PEP: 62.70, +1.75, +2.87%) results beat the Street. Wall Street continues to benefit from receding fears of a double-dip recession in the U.S. Those concerns have faded as recent indicators show stronger-than-expected growth in employment, manufacturing activity and retail sales. The economic data out of the U.S. has been pretty decent and suggests we are not in a recession, David Joy, chief market strategist at Ameriprise Financial, told FOX Business. Joy, who said he has a year-end S&P target of 1250, down from 1345 previously, added, There is a chance to break out to the upside here, but we have some heavy lifting to do. The S&P 500 has soared 9.83% since the October 3 lows, while the Nasdaq Composite is up 11.51% over that span. Almost all 30 Dow stocks advanced on Wednesday, led by Walt Disney (DIS: 33.76, +1.15, +3.53%) and Bank of America (BAC: 6.58, +0.21, +3.30%). The index's weakest players were McDonald's (MCD: 88.36, -0.98, -1.10%) and Alcoa. In the commodities complex, crude oil snapped a five-day winning streak, sinking 23 cents a barrel, or
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0.27%, to $85.78. Gold jumped $21.60 a troy ounce, or 1.30%, to $1,681.90. Corporate Movers Research in Motions (RIMM: 23.88, -0.53, -2.17%) BlackBerry outage spread to North and South America, deepening a third day of disruptions for the struggling company. Outages have also been reported in the U.K., Middle East, Africa, Brazil, Chile and Argentina. PepsiCo (PEP: 62.70, +1.75, +2.87%) narrowly surpassed estimates with a non-GAAP profit of $1.31 a share on a 13% rise in revenue to $17.58 billion. The food and beverage giant also backed its 2011 EPS growth target. Liz Claiborne (LIZ: 6.84, +1.74, +34.12%) leaped more than 30% after saying it has unloaded its namesake and Monet jewelry brands to J.C. Penney (JCP: 30.23, +0.26, +0.87%) in a $267.5 million deal. Liz Claiborne said it is also exploring options for a new name. Hewlett-Packard (HPQ: 25.87, -0.05, -0.19%) is reconsidering a planned spinoff of its PC division due to new analyses that show it may be ill advised, The Wall Street Journal reported. The biggest concern is about the impact on H-P's buying power with component makers. Global Markets London's FTSE 100 gained 0.85% to 5441.80, Germany's DAX jumped 2.21% to 5994.47 and France's CAC 40 soared 2.42% to 3229.76. In Asia, the Japanese Nikkei 225 fell 0.40% to 8738.90 and Hong Kong's Hang Seng leaped 1.04% to 18329.50.
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Dow Soars as Double-Dip Fears Continue to Fade

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The Hindu : Business / Markets : Sensex regains 17K level after 3 weeks, ...
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Sensex regains 17K level after 3 weeks, led by RIL, Infosys
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The Hindu Stock brokers at a firm in Mumbai
The BSE benchmark Sensex on Friday regained the 17K mark, adding 199 points, after more than three weeks o funds buying blue-chips such as RIL and Infosys amid firming European trend. The Bombay Stock Exchanges Sensex closed 198.77 or 1.18 per cent up at 17,082.69 as the two most heaviest st on the Sensex, RIL and Infosys -- with 20 per cent weight -- closed notably higher. RIL rose 2.36 per cent ahead of its quarterly earnings. Infosys shot up 1.83 per cent. The broad-based National Stock Exchange index Nifty rose by 54.45 points, or 1.07 per cent to 5,132.30. The overall inflation fell marginally to 9.72 per cent in September, from 9.78 per cent in August still higher th the Reserve Bank of Indias comfort level. RBI has raised rates a dozen times since March 2010 to rein in high inflation. It will meet on October 25 to revi the monetary policy. The gauge has dropped more than 17 per cent this year as rising interest rates have started biting into corporate profits. A firm trend in the European region ahead of weekend meeting of G20 Finance Ministers to tackle eurozone de crisis, influenced market sentiment positively. Sectorally, IT index gained the most, rising 2.61 per cent to 5,698.90, followed by Teck, 2.61 per cent to 3,453.43 The oil and gas index rose by 1.53 per cent to 8,859.48 and FMCG index by 1.09 percent to 3,991.99. Keywords: Sensex, Bombay Stock Exchange
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14-Oct-2011 5:42 PM
Drenched in Green: Wall Street Caps Strong Week in Rally Mode | Fox B...
http://www.foxbusiness.com/investing/2011/10/14/drenched-in-green-wal...
MARKET UPDATES - INVESTING MARKET SNAPSHOT U.S. By Adam Samson Published October 14, 2011 | FOXBusiness Print Share 2 FOX Business: The Power to Prosper The blue chips zoomed into the green for the third-straight week, while the broader Nasdaq posted its best weekly performance since 2009, knocking the two indices into the black for the year, amid easing tensions over the European debt crisis, and relatively upbeat economic data. CONNECT WITH FOX BUSINESS Today's Markets The Dow Jones Industrial Average climbed 166 points, or 1.5%, to 11,644, the S&P 500 jumped 20.9 points, or 1.7%, to 1,225 and the Nasdaq Composite gained 47.6 points, or 1.8%, to 2,668. For the week, the Dow jumped 4.9%, the S&P 500 leaped 6% and the Nasdaq soared 7.6%. The energy and basic materials sectors rose the most on the day on the back of a major rally in commodities futures markets . Technology stocks also performed solidly after tech titan Google (GOOG) unveiled robust quarterly profits. However, financials lagged behind for a second day. In energy markets, crude oil jumped $2.57, or 3.1%, to $86.80 a barrel -- soaring close to 10% in the past two weeks. Wholesale RBOB gasoline gained 7 cents, or 2.4%, to $2.82 a gallon. Gold gained $14.50, or 0.87%, to $1,683 a troy ounce. Copper leaped 10 cents, or 3.1%, to $3.41 a pound. The benchmark 10-year Treasury note recently yielded 2.239% from 2.185%. On the economic front, retail sales jumped 1.1% in September, or 0.6% excluding the automobile sector. Analysts forecast gains of 0.7%, or 0.3% excluding vehicles. Sales held up "surprisingly well" despite the market turmoil and still weak labor conditions, according to Peter Boockvar, managing director at Miller Tabak + Co. Business purchases have helped buoy vehicle sales despite weakness in the consumer sector in the past two years, according to a research note from Goldman Sachs. Consumer sentiment, however, took an unexpected fall in early October. The Get Free Breaking News Alerts! Breaking News Alerts The CEO Newsbrief Most Popular Enter Your Email Address Email Share Comments Recommend 1 14 Europe Asia DJIA 11,644.49 Nasdaq 2,667.85 S&P 1,224.58 500 FOX 50 895.03 1 day +166.36 +47.61 +20.92 +14.78
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14-Oct-2011 5:46 PM
Reuters/University of Michigan gauge of consumer sentiment fell to 57.5 from 59.4, missing expectations of 60.2. Additionally, consumers' expectations for the future dropped to 47 from 49.4 -- the lowest level since 1980. Confidence in the consumer sector is a major factor in purchasing decisions, so it may impact retailers. Google unveiled earnings of $3.63 billion, or $9.20 a share, on an adjusted basis, easily topping analysts' estimates of $8.74 a share after the closing bell on Thursday. The search giant benefited from strong advertising revenue, and said its bid to tap into the red hot social networking market is proceeding at quick pace. Shares surged more than 5%. Traders were also keeping a close eye on the Group of 20 financial ministers and central bank officials who are kicking off a three-day meeting in Paris. The group, which represents many of the world's biggest economies, is expected to discuss methods of tackling Europe's twin sovereign debt and financial crises. In a sign of the lingering tensions there, Standard & Poor's sliced Spain's credit rating to "AA-" from "AA" amid concerns about the country's economy. European stocks fared well despite the downgrade, with the Euro Stoxx 50 climbing 0.98% to 2,355. The euro soared 0.74% to $1.39, while the greenback slipped 0.43% against a basket of world currencies. The euro is now at a four-week high against the dollar. Foreign Markets The Euro Stoxx 50 rose 0.98% to 2,355, the English FTSE 100 gained 1.2% to 5,466 and the German DAX climbed 0.89% to 5,967. In Asia, the Japanese Nikkei 225 dipped 0.85% to 8,748 and the Chinese Hang Seng slid 1.4% to 18,502. Print Share 2 RECOMMENDED STORIES The 8 Beers Americans No Longer Drink Sprint to 'Bet the Company' on iPhone Bulls Storm Wall Street; Stocks Soar for Second Day Dow Soars, But Nasdaq Slips in Volatile Trading Stocks Climb in Afternoon Trading ALSO ON THE WEB Its Curtains for the US the Unapologetic Truth About Our Economy (Moneynews) Wife waits for hubby's Social Security (BankRate.com) You're debt free, now what? 3 must-know money-saving tips. (CareOne) Herman Cain: 21 Things You Dont Know About Him (The Fiscal Times) Boost Your WiFi Signal Using Only a Beer Can (Discovery) [what's this] Email Share Comments Recommend 1 14
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Stocks Stage Stunning Comeback; Dow Soars 180

By Adam Samson Published October 18, 2011 | FOXBusiness Print Email Share Recom m end
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FOX Business: The Power to Prosper Surging financial shares, coupled with reports that European authorities were nearing a deal to tackle the region's debt crisis, rekindled Wall Street's enthusiasm, setting off a buying frenzy that left the blue chips 180 points to the upside. Today's Markets The Dow Jones Industrial Average jumped 180 points, or 1.6%, to 11,577, the S&P 500 rose 24.5 points, or 2%, to 1,225, and the Nasdaq Composite climbed 42.5 points, or 1.6%, to 2,657. In a stark comparison to the prior session, financial stocks soared. Indeed, Bank of America (BAC: 6.64, +0.61, +10.12%) was the best-performing blue chip by a wide margin, spiking 11%. The sudden uptick comes as traders cheered relatively strong earnings from the nation's largest bank by assets, and overlooked weak quarterly performance by Goldman Sachs (GS: 102.25, +5.35, +5.52%). Industrials like machinery-giant Caterpillar (CAT: 84.72, +3.20, +3.93%) posted solid performance as well. Technology behemoth IBM (IBM: 178.90, -7.69, -4.12%), however, fell more than 3% after its outlook spooked traders. Trading on Wall Street has been tumultuous in recent weeks. Jitters over the sovereign debt crisis in Europe sent the Dow diving more than 240 points in the worst rout since early-October on Monday, and the markets had been solidly to the downside for much of Tuesday before the markets rebounded. Yields on U.S. debt, seen as a safe-haven investment, bounced back from heavy losses as well. The yield the benchmark 10-year Treasury note rose to 2.185% from 2.157%. Bond yields move in the opposite direction of prices, so as demand ramps up, yields fall. Volatility, as tracked by the VIX index, plunged more than 7%. The Guardian reported late in Tuesday's session that France and Germany -- Europe's economic powerhouses -- agreed to increase the size of the euro zone's bailout fund to 2 trillion euros as the 17member currency bloc grapples with a deepening sovereign debt crisis. However, some of the original enthusiasm faded after Dow Jones Newswires said the figure discussed in The Guardian's report was "totally wrong," according to unnamed sources. The fund, which has been the subject of heated debate in Europe, would be able to purchase debt of countries like Greece and Spain, which have seen borrowing costs spike in private markets as they deal with incredibly high levels of debt. Additionally, the fund may be a boon to troubled financial institutions, that have seen capital levels shrink as a result of the crisis. The European sovereign debt crisis has been a cause of major uncertainty for Wall Street, and has prompted steep retreats and big gains in recent months. A potential resolution, therefore, is seen by market participants as a positive. The euro, which had been down sharply in earlier trading, turned sharply to the upside on the news, climbing 0.5% to $1.38. The greenback fell 0.41% against a basket of world currencies. Earnings Season in Full Swing Several blue chips reported earnings before the opening bell, including Bank of America (BAC: 6.64, +0.61, +10.12%), Johnson & Johnson (JNJ: 64.42, +0.63, +0.99%) and Coca-Cola (KO: 66.74, -0.26, 0.39%). Intel (INTC: 23.40, +0.12, +0.52%) is set to report after the close of trading. Bank of America earned 56 cents a share in the third quarter, well higher than the 77 cent loss it reported last year. However, an accounting gain and a pretax asset sale, two elements that wouldn't be expected to show up in continuing earnings, were the driver of much of the gains. Still, shares rallied 8% in afternoon trading. Coca-Cola revealed adjusted profits of $1.03 a share, edging out analysts' estimates by a penny. The world's biggest soft-drink maker also saw its sales jump 45%. Medical giant Johnson & Johnson revealed adjusted third-quarter net profits of $1.24 a share, beating forecasts by 3 cents. Goldman Sachs posted a much wider-than-expected quarterly loss of 84 cents a share for the third quarter, compared with calls by analysts of a loss of 16 cents. The loss was the second in the investmentbanking heavyweight's history as a publicly traded company. Inflation Heats Up, Homebuilder Sentiment Rises Prices at the wholesale level jumped 0.8% in September, according to the Labor Department, a much quicker pace than the 0.2% economists forecast. Excluding the more volatile food and energy component,
Page 3 of 4
prices rose 0.2%, also topping forecasts of 0.1%. The National Association of Homebuilders' gauge of sentiment rose to 18 in October from 14 in September, zooming past estimates of a reading of 15. Sentiment is now the highest since May 2010, representing a rare glimmer of light in a market that was slammed during the economic downturn, and has been slow to recover. On the global front, China's economy grew at an annualized pace of 9.1% in the third quarter, short of the 9.3% analysts expected, and the slowest pace since 2009. The specter of slowing expansion for the world second-largest economy initially sent commodities plunging, but many made a dramatic comeback. Crude oil gained $1.96, or 2.3%, to $88.34 a barrel. Wholesale RBOB gasoline rose less than a penny to $2.75 a gallon. In metals, silver was up 0.03% to $31.31 a troy ounce. Gold slipped $23.80, or 1.4%, to $1,653 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.39% to 2,307, the English FTSE 100 slid 0.48% to 5,410 and the German DAX gained 0.31% to 5,877. In Asia, the Japanese Nikkei 225 dropped 1.6% to 8,742 and the Chinese Hang Seng plunged 4.2% to 18,076.
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The Hindu : Business News : Sensex up 337 points
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PTI Stock brokers buoyed by the rising sensex. File photo
The Bombay Stock Exchange benchmark Sensex on Wednesday surged 337 points as investors bought stocks available at lower levels, amid firm trend in global markets. The Sensex, which had plunged 277 points to dip below the 17,000 mark on Tuesday, bounced back to close 33 points, or 2.01 per cent higher at 17,085.34. The broad-based National Stock Exchange index Nifty also rose 101.65 points to 5,139.15. The rally was propelled by financial stocks. Brokers said the market sentiment improved in view of motorcycle major Hero MotoCorps second quarter ear beating expectations with 19 per cent rise in profits. It surged 4.13 per cent. A higher ending in Asian stocks and better opening in Europe further fuelled the uptrend. The MSCIs broadest index of Asia Pacific shares gained 1.41 per cent, fanning the brisk buying in other stock markets in the regions. All the 30 scrips in the BSE index closed in the positive zone. The realty sector index gained the most -- up 3 pe to 1,846.15, followed by banking index that gained 2.69 per cent to 11,265.66. The two most heaviest on the Sensex with their 20 per cent weigh Reliance Industries and Infosys Ltd record handsome gains. RIL rose by 2.72 per cent and Infosys by 0.89 per cent. Keywords: Bombay Stock Exchange
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MARKETS MARKET SNAPSHOT By Adam Samson Published October 20, 2011 | FOXBusiness Print Share 3 FOX Business: The Power to Prosper The blue chips capped yet another furious, headline-driven trading session to the upside after news European policymakers could finalize a solution for the region's debt crisis as soon as next week lifted traders' spirits. Today's Markets The Dow Jones Industrial Average rose 37.2 points, or 0.32%, to 11,542, the S&P 500 gained 5.5 points, or 0.46%, to 1,215, and the Nasdaq Composite fell 5.4 points, or 0.21%, to 2,599. Trading has been particularly ferocious over the past two weeks; indeed, the Dow has closed in opposing directions for ten-straight sessions. Financials were the leader of the session, with big banks like JPMorgan (JPM: 33.13, +0.88, +2.73%) posting sizeable gains. However, technology stocks performed poorly, helping to drag the tech-heavy Nasdaq into the red on the day. Market participants are paying close attention to Europe, where policymakers are struggling to craft a unified solution to tackle the 17-member currency bloc's debt crisis. Indeed, the crisis seemed to be reaching a boiling point as violent protests against fresh austerity measure broke out across beleaguered Greece, and the spread between German debt and that of periphery nations edged higher ahead of the weekend summit. German bunds are seen as Europe's safe-haven assets, so when traders look to reduce risk, they would purchase bunds and sell other government securities, widening the spread. However, France and Germany -- the region's economic superpowers -- said Thursday a solution for the debt crisis would be drafted on this weekend, and finalized no later than next week. While U.S. markets got a boost on the news, it came too late to help European markets that closed sharply to the downside. The euro rose 0.2% to $1.38, while the dollar fell 0.18% against a basket of world currencies. Euro zone blue chips plunged 2.5% on Thursday. "The European sovereign debt crisis affects investors everywhere," analysts at HSBC wrote in a research note, adding the crisis is "hugely complex." Also on the European front, Greece's parliament approved fresh austerity measures that, while unpopular among the population, are key to getting fresh rescue aid that will help the ailing country stave off a bailout. Data Dump Several key economic reports were released on Thursday. Some Whole Foods Stores Stop RELATED TOPICS Central Bank Emerging Markets Yahoo! Monetary Policy Microsoft NASDAQ Composite Inde New York Mercantile Exchange Oil Prices Deutsche Bank Red Ink Week Email Share Comments Recommend 26
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The manufacturing sector unexpectedly expanded in the mid-Atlantic region in early October. The Philadelphia Federal Reserve's manufacturing gauge jumped to 8.7 from -17.5. Reading above 0 point to expansion, while those below 0 point to contraction. Sales of previously occupied homes fell 3% in September from August to a seasonally adjusted annual rate of 4.91 million homes, a bigger drop than the 2% economists anticipated. The housing market has struggled with a glut of supply, depressed prices, and still-tight consumer lending conditions. New claims for unemployment benefits fell to 403,000 from 409,000 the week prior, but checked in higher than the 400,000 economists had been expecting. Claims have been hovering about the 400,000 level for months, and represent one of many gauges that suggest the labor market is still struggling. Earnings in Focus Earnings season is in full swing with almost half of all Dow components and more than 20% of the S&P 500 reporting this week. American Express (AXP: 46.19, +0.06, +0.13%) posted earnings that topped expectations, and sales that met forecasts. AT&T's (T: 28.99, -0.10, -0.34%) quarterly revenue missed analysts' expectations, while its bottom-line matched estimates. Technology heavyweight Microsoft (MSFT: 27.04, -0.09, -0.33%) is set to report after the closing bell. Also on the corporate front, Silver Lake Partners, Microsoft and others are working on a bid for struggling technology firm Yahoo! (YHOO: 16.18, +0.24, +1.51%), the Wall Street Journal reported . Energy markets moved to the upside on the back of the better-than-expected manufacturing report. Light, sweet crude fell 81 cents, or 0.94%, to $85.30 a barrel. Wholesale RBOB gasoline gained less than a penny to $2.68 a gallon. In metals, gold dropped $34.10, or 0.94%, to $1,613 a troy ounce. Silver plunged $1.00, or 3.2%, to $30.28 a troy ounce. Yields on government debt were slightly higher. The benchmark 10-year Treasury note yielded 2.205% from 2.164%. Bond yields move in the opposite direction of prices. Foreign Markets The Euro Stoxx 50 fell 2.5% to 2,271, the English FTSE 100 slid 1.2% to 5,385, and the German DAX dipped 2.5% to 5,766. In Asia, the Japanese Nikkei 225 dropped 1% to 8,682 and the Chinese Hang Seng tumbled 1.8% to 18,983. Print Share 3 Email Share Comments Recommend 26
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FOLLOW FOX BUSINESS Like Written By Adam Samson Published October 21, 2011 FOXBusiness MORE STORIES Sprint Limit More Unlim Plans, Smartphone Spared TeaParty.co No Politics (Yet), Just R and Roll That's Foul: NBA Lockou Threatens Momentum (REUTERS) Print Email Share Comments (6) Like 92 39 RELATED STOCKS GE GENERAL ELEC... MCD 16.31 -0.32 FOX Business: The Power to Prosper Stocks soared on Friday, launching the blue chips back into positive territory for the year, as traders grew more confident that European policymakers would craft a solution for the region's debt crisis, and numerous corporate heavyweights posted strong quarterly results. Today's Markets The Dow Jones Industrial Average jumped 267 points, or 2.3%, to 11,809, the S&P 500 climbed 22.9 points, or 1.9%, to 1,238 and the Nasdaq Composite gained 38.8 points, or 1.5%, to 2,637. Consumer-driven shares posted the best performance after McDonald's (MCD: 92.32, +3.31, +3.72%) posted quarterly earnings that topped expectations. The materials sector performed strongly as well on the back of a rally in metals futures. However, every major sector was sharply to the upside. Volatility, as measured by the VIX, tumbled 7.4%, and the yield on U.S. government debt began climbing as investors rushed back into equities. The benchmark 10-year note yields 2.221% from 2.194%. Wall Street has had a turbulent week, bouncing between big gains and losses. Headlines from Europe have been driving 2011 Groupon Sc Back IPO, Readies to H Nasdaq Nov Best Age to Buy Long-T Care Insurance? First Class FoodPreFlight Tips for New Boomer Grandparen 66808 likes. Sign Up to what your friends like.
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the markets, as traders have fretted that the debt and financial crises will spread from the periphery to the core, potentially causing a threat to major global economies. Germany and France -- Europe's economic superpowers -conceded late Thursday that a solution will not be finalized at this weekend's summit, but one would be announced no later than the following Wednesday. Developments Friday suggested the 17-member currency bloc may be nearing a compromise on how to structure the region's bailout fund, the European Financial Stability Facility. The Austrian finance minister said the group is down to two options on how to leverage the EFSF. Previous media reports have suggested that one option the group is considering is allowing the EFSF to sell troubled sovereign debt it acquires straight to the European Central Bank. This, economists say, would dramatically enhance the EFSF's firepower because its capital won't get locked up in buying debt, and the ECB has theoretically limitless buying abilities. However, this has made Germany uneasy, so there has also been a proposal to allow the EFSF to leverage using commercial banks, which would be considerably more restrictive. This comes as the international community, including the U.S., has turned up the heat on EU officials to stem the crisis before it does more damage to global economies. The markets have added pressure too, with the spread between European safe-haven bonds, the German bund, and other sovereign debt widening markedly this month, meaning investors are demanding higher yields to hold the relatively riskier sovereign debt. This makes it more expensive for countries to borrow, and creates a feedback loop that worsens the crisis. European traders remained optimistic that officials will be able to draft a solution by next week. Indeed, euro-zone blue chips leaped nearly 3%, and the euro rose 0.67% to $1.39. The dollar fell 0.71% against a basket of world currencies. A heavy earnings week comes to a close today. Nearly half of Dow components, and more than 20% of the S&P 500 will have reported by the end of the day. Big Earnings Week Ends on High Note McDonald's third-quarter net of $1.45 a share topped analysts' predictions by two cents. The fast-food giant benefited from a bigger-than-expected increase in same store sales.
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22-Oct-2011 9:50 AM
General Electric (GE: 16.31, -0.32, -1.92%), the biggest U.S. conglomerate, said its earnings jumped 18% to 31 cents a share in the third quarter, excluding one-time charges, meeting analysts' expectations. Verizon Communications (VZ: 37.42, +0.32, +0.86%) posted continuing profits of 56 cents a share, topping estimates of 55 cents. There were no major economic releases on Friday. Energy markets were higher on a much weaker dollar. Light, sweet crude gained $1.33, or 1.6%, to $87.40 a barrel. Wholesale RBOB gasoline rose 1 cent, or 0.34%, to $2.68 a gallon. Metals were sharply to the upside as well. Gold jumped $23.20, or 1.4%, to $1,636 a troy ounce. Silver soared 91 cents, or 3%, to $31.19 a troy ounce. Foreign Markets The Euro Stoxx 50 soared 2.9% to 2,337, the English FTSE 100 rose 1.9% to 5,488 and the German DAX surged 3.6% to 5,929. In Asia, the Japanese Nikkei 225 slipped 0.04% to 8,678 and the Chinese Hang Seng rose 0.24% to 18,026.
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The Hindu : Business / Markets : Sensex up 154 points, fag-end selling eas...
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Sensex up 154 points, fag-end selling eases early gains
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PTI A securityman person stands guard near the Bombay Stock Exchange whose benchmark Sensex gained 153.64 points to at 16,939.28 on Monday. File photo
The BSE benchmark Sensex on Monday gained 153.64 points to close at 16,939.28 on value buying by funds in blue-chips, especially in the IT and auto sectors, and a firm global trend amid hopes that euro-zone debt troubl may ease soon. Fag-end selling wiped off early gains as investors reduced their positions on the eve of monthly settlement in th derivatives segment and the Reserve Bank of India policy meeting on interest hike. The gauge touched an intra high of 17,104.88 points. The broad-based National Stock Exchange index Nifty gained 48.40 points to 5,098.35, after rising to 5,145.65 stocks of Reliance Industries, Infosys and the auto sector. RIL shot up by 1.30 per cent, and Infosys by 1.65 per cent. Brokers said that despite a better trend in the overseas markets, the investor confidence remained jittery, as th monthly derivative contracts settlement has been brought forward by two days to October 25 due to Deepavali Holidays. Asian and European markets were firm as EU leaders said they have made good progress towards resolving t euro-zone sovereign debt crisis. In the auto sector, Bajaj Auto spurted 3.12 per cent, Tata Motors 4.44 per cent and Maruti Suzuki by 1.46 per ce In a brief trading week, the market will open on Wednesday for a special Deepavali Muhurat trading between p.m and 6 p.m., and will remain close on Thursday. Keywords: BSE, Sensex, NSE, Nifty
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Caterpillar, Deal Making Ignite Rally; Nasdaq Positive For Year

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Bullish earnings from the world's largest heavy-machinery manufacturer, coupled with a round of corporate deal making, sparked the secondstraight rally on Wall Street that pushed the Nasdaq into the green for the year, and the S&P 500 within points of that milestone.
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The Dow Jones Industrial Average rose 105 points, or 0.89%, to 11,914, the S&P 500 gained 15.9 points, or 1.3%, to 1,254, and the Nasdaq Composite climbed 62 points, or 2.4%, to 2,699. The blue chips have been moving steadily higher in the past several weeks, climbing more than 9% for the month so far, and into the green for the year. Indeed, if the Dow can hold its gains for another week, this will be the best month for the benchmark index since 2002. Broader indices have performed well as well; indeed, the Nasdaq climbed into the green for the year Monday, and the S&P 500 sits just points away. The rally on Monday was broad, with only utilities and consumer staples like Procter & Gamble (PG: 65.37, -0.89, -1.34%) struggling. Miners and financials performed the best on the day; for example, FreeportMcMoRan Copper & Gold (FCX: 39.50, +2.92, +7.98%) zoomed close to 10% higher. More than 90% of the shares listed on the Nasdaq 100 index of nonfinancial companies were in the green, and a dozen big-name retailers hit all-time highs. Volatility, as measured by the VIX, dropped 5.6% in a sign of easing concerns on Wall Street. Merger Monday Caterpillar posted third-quarter earnings of $1.71 a share, topping estimates of $1.54. The world's biggest heavy-machinery manufacturer said its sales were $15.72 billion, also beating expectations of $15.03 billion.
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24-Oct-2011
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Insurer Cigna (CI: 45.34, +0.64, +1.43%) unveiled plans to acquire HealthSpring (HS: 53.71, +13.55, +33.74%) for $3.8 billion -- a 37% premium to the managed care specialists' closing price on Friday. Also on the merger front, Oracle (ORCL: 32.87, +0.75, +2.34%) said it plans on buying cloud-based customer service provider RightNow Technologies (RNOW: 42.94, +6.98, +19.41%) for $1.5 billion, a 20% premium. Mattel (MAT: 28.26, +0.57, +2.06%) scooped up the Thomas & Friends and Bob the Builder lines with its acquisition of Hit Entertainment from a group led by Apax partners for $680 million. Europe Still in the Spotlight Market participants have been paying close attention to euro zone, where leaders met this weekend in Brussels to work out a solution to the 17-member currency bloc's debt crisis. A final decision has been postponed to a second summit on Wednesday, however, reports suggest leaders made some progress. "Further work is still needed and that is why we will take the decisions in the follow-up euro zone summit," Reuters quoted European Council President Herman Van Rompuy as saying after the summit. The new package to tackle the crisis will involve recapitalzing the region's struggling banking sector, restructuring Greece's sovereign debt, and a significant increase in the size of the rescue fund, called the European Financial Stability Facility, according to the Wall Street Journal. However, disagreements reportedly remained on how to leverage the EFSF, and other specifics. While market participants were generally optimistic a solution will ultimately be crafted, European summits have had mixed results in the past presenting a risk to already volatile markets. "We recommend staying cautious until more concrete policy announcements emerge," analysts at Barclays Capital wrote in a a research note. European blue chips jumped 1.4%, while the euro rose 0.47% to $1.39. The dollar fell 0.39% against a basket of world currencies. There are no major American economic releases slated for release on Monday, however, traders did get encouraging manufacturing data from China. HSBC's gauge of Chinese manufacturing rose to 51.1 in October from 49.9 in September, marking the first rise since March. Readings above 50 point to expansion, while those below indicate contraction. However, data from Europe showed that manufacturing there contracted more than expected over the same period. Energy markets were in the green amid a weak dollar and strong Chinese manufacturing data. Light, sweet crude soared $3.87, or 4.4%, to $91.27 a barrel. Wholesale RBOB gasoline rose less than a penny to $2.69 a gallon. Gold jumped $16.40, or 1%, to $1,652 a troy ounce. Treasury yields edged higher. The benchmark 10-year note yielded 2.230% from 2.219%.
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Corporate News Federal Express (FDX: 81.52, +2.18, +2.75%) says it expects to move a 260 million packages this holiday season, a 12% increase from last year. The shipping company also plans on hiring 20,000 seasonal workers. Kimberly-Clark (KMB: 69.65, -3.35, -4.59%), the maker of Kleenex tissues, posted an 8% drop in its quarterly profits, meeting analysts' expectations. Foreign Markets The Euro Stoxx 50 jumped 1.4% to 2,369, the English FTSE 100 rose 1.1% to 5,548 and the German DAX gained 1.4% to 6,055. In Asia, the Japanese Nikkei 225 jumped 1.9% to 8,844 and the Chinese Hang Seng spiked 4.1% to 18,772.
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The Hindu : Business / Markets : Samvat 2067 ends on positive note
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The Hindu In volatile trade on Tuesday, the BSE Sensex added 315.58 points at 17,254.86 after touching a high of 17,322.13 a dipping to a low of 16,900.26. File photo
Sensex up 316 points on RBI's positive signal
The Samvat year 2067 ended on a positive note as the BSE Sensex shrugged off the Reserve Bank of Indias hik lending rates and shot up 316 points amid the central bank hinting at a pause monetary tightening, and firm gl trend. In volatile trade, the Sensex extended Mondays gains, adding 315.58 points at 17,254.86 after touching a high o 17,322.13 and dipping to a low of 16,900.26. The broad-based National Stock Exchange index Nifty rose 93.25 points to 5,191.60, after moving between 5,08 and 5,211 points. Besides, investors were seen clearing their positions on the last day of October month settlement and preparing Diwalis special 90-minute trading on Wednesday, to open new accounts for Samvat 2068, brokers said. They said the market had broadly factored in the RBIs 25 basis point hike in lending rates, 13th since March 20 to tame inflation. While the banking stocks tumbled on fears that high rates might affect their business, the sof exporting IT stocks were front runners. A firm trend in Asia supported the market sentiment. The IT sector index gained 2.66 per cent to 5,781.26 on renewed hope for an end to the debt crisis in Europe, th second-largest market for Indias software exporters. The auto sector index rallied by 2.95 per cent to 9,277.76 on hopes of a better next quarter earning following ris sale for this festive season. The market will open for special Muhurat trading on Diwali on Wednesday between 4.30 p.m. and 6 p.m. Keywords: Samvat 2067, BSE, Sensex, NSE, Nifty, Muhurat trade
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Euro Zone Aims to Ramp Up Rescue Fund
Visa Beats 4Q MARKET SNAPSHOT Expectations on Earnings, Meets on Revenue U.S. Europe Asia Visa posted fourthquarter earnings slightly higher than Wall Street expectations, while revenue was in-line with views. Alcoa CEO: Lack of Confidence Freezing Economy
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Recouping most of the previous days tumble, the blue chips soared almost 200 points on Wednesday as Wall Street cheered further progress on Europes bailout plans and shrugged off leaders inability to reach a comprehensive agreement on key sticking points. Today's Markets
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The Dow Jones Industrial Average gained 162.42 points, or 1.39%, to 11,869.04, the S&P 500 rose 12.95 points, or 1.05%, to 1,242 and the Nasdaq Composite jumped 12.25 points, or 0.46%, to 2,650.67. In addition to developments out of a crucial euro-zone summit, U.S. equities received a bounce from further upbeat earnings reports from key companies, including defense and aerospace giant Boeing (BA: 66.56, +2.84, +4.46%). Including Wednesday's triple-digit rally, Wall Street has closed higher four of the past five trading sessions. I think its just an overall resilient, bullish sentiment thats taken hold of the market, which is really continuing to have an optimistic tone, said Michael James, managing director of equity trading at Wedbush Securities. Most of the focus was on Europe's efforts to solve its sovereign debt debacle. A number of positive developments emerged, including a report from The Wall Street Journal saying French President Nicolas Sarkozy planned to reach out to Chinas President Hu Jintao about contributing to the euro-zone bailout fund, the European Financial Stability Facility. While EU nations are struggling to commit enough cash, Chinas coffers are far deeper. Further, Reuters reported euro-zone nations at the summit signed off on plans to leverage the EFSF several fold and Germany's parliament has already agreed to use leverage. Leveraging the EFSF is crucial to increasing its firepower and making it robust enough to tackle the crisis in larger euro-zone nations such as Italy, should the need arise. Utilizing leverage has been a major point of contention among many governments.
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Additionally, a draft agreement from the summit said the EFSF can act as a risk insurance and special purpose vehicle, further ramping up its usefulness in providing rescues. Any plan will need to be approved by the parliaments of all 17 countries in the bloc, where varying political tensions have come into play. Germany -- Europe's economic powerhouse -- has been pushing to reduce its involvement in sovereign bailouts, while at the same time emphasizing the importance of the euro. However, the summit failed to produce a deal on the size of a haircut on Greek bonds that are held by private investors, including embattled French and German banks. Traders were impressed with the markets' resiliency, which was on display by not selling off due to the EU failing to reach a comprehensive deal on a number of sticking points. If this would have happened a month ago, there would have been a little more focus on the negatives than the positives, said James. Right now theres a bullish backdrop to the market. That could change on a dime. European markets ended modestly lower on the day, but closed before the summit concluded. The euro dipped 0.06% to $1.3899 in particularly choppy trading. The dollar rose 0.38% against a basket of six world currencies. Earnings season continued to roll on in mostly positive fashion as Boeing unveiled third-quarter profits of $1.1 billion, more than the $837 million it earned in the same period the year prior, and higher than Wall Street forecast. Shares of the aircraft maker flew 4.5% higher, leading the Dow by a wide margin. Ford (F: 11.87, -0.56, -4.51%) posted thirdquarter profits that were less than it earned in the same period last year, but higher than analysts anticipated. Financial and energy shares outperformed the broader markets, while consumer-driven issues like Nordstrom (JWN: 50.46, -0.17, -0.34%) struggled a bit. Durable Goods, Home Sales Data Top Expectations On the economic front, orders for long-lasting goods fell by 0.8% in September, a shallower loss than the 0.9% economists forecast. Excluding the transportation component, orders were actually up 1.7%, much bigger than the 0.4% rise that was anticipated. The report is important for the manufacturing sector, and could impact a wide swath of companies from Caterpillar (CAT: 91.57, +1.68, +1.87%) to Apple (AAPL: 400.60, +2.83, +0.71%). New sales of single-family hopes jumped 5.7% to an annualized rate of 313,000 units in September. Economists expected a smaller increase to 300,000. While supply fell to the lowest level since last April, median home prices are off 10.4% from September of last year. Demand for housing has remained anemic as a result of stubbornly-tight lending conditions, beaten down consumer confidence, and a glut of available supply on the market.
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Energy markets closed lower on a bearish inventory report. The Energy Department reported crude oil stockpiles increased nearly four times more than expected last week, while gasoline draws were slightly shallower than expected. Higher supplies can point to lower overall demand for energy, putting pressure on prices. Light, sweet crude fell $2.97, or 3.2%, to $90.20 a barrel. Wholesale RBOB gasoline fell 5 cents, or 1.8%, to $2.65 a gallon. Gold jumped for its forth-straight session. The precious metal climbed $23.10, or 1.4%, to $1,724 a troy ounce. The yield on U.S. government debt moved higher. The benchmark 10-year Treasury note yields 2.160% from 2.116%. Corporate News Amazon.com (AMZN: 198.40, -28.75, -12.66%) revealed quarterly results that were well short of analysts' expectations on the top and bottom line after the closing bell on Tuesday. Shares of the largest online retailer closed off nearly 13% on the report. MF Global Holdings (MF: 1.70, -0.16, -8.60%) has hired an investment bank Evercore Partners (EVR: 23.70, +0.27, +1.15%) to look into a possible sale, merger, or other strategic options as the company looks to stem its plunging shares, according to the Journal. Nokia (NOK: 6.77, +0.06, +0.89%) unveiled phones powered by Microsoft's (MSFT: 26.59, -0.22, -0.82%) mobile operating system as the Finland-based company looks to compete with other smartphones powered by Google (GOOG: 586.31, +3.15, +0.54%) and Apple (AAPL: 400.60, +2.83, +0.71%) software. Foreign Markets European blue chips fell 0.38%, the English FTSE 100 rose 0.5% to 5,553 and the German DAX slipped 0.51% to 6,016. In Asia, the Japanese Nikkei 225 fell 0.16% to 8,748 and the Chinese Hang Seng climbed 0.52% to 19,067.
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The Hindu : Business / Markets : Sensex jumps by 516 points, biggest gain...
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PTI A broker reacts as the Sensex surges by nearly 500 points at the BSE building in Mumbai on Friday.
The BSE Sensex on Friday zoomed 516 points, biggest jump in two months, on funds buying blue-chips such as and Infosys amid global rally on easing euro-zone debt crisis and hopes of a pause in RBI rate hikes. Sensex, which had gained over 500 points in the last three trading sessions, shot up 515.97 or 2.98 per cent to 17,804.80, recording biggest one-day jump after August 29. It touched the days high of 17,908.13. Similarly, the broad-based National Stock Exchange index Nifty zoomed past 5,300 level, ending with a gain of 158.90 points or 3.05 per cent at 5,360.70. Metal, realty and banking sector stocks gained by up to 6.34 per cent. A firm trend in global markets followed European leaders pact to expand a bailout fund to stem euro-zones de crisis and growth in the U.S. economy. Besides, Reserve Bank of India (RBI) hinted earlier this week that it may pause hiking lending rates. RBI has ra the lending rate by 375 basis points since mid-March 2010 to tame high inflation. The two most-heaviest on the Sensex, with 20 per cent weight, Reliance Industries and Infosys Ltd ended with handsome gains. The RIL spurted by 2.82 per cent and Infosys by 0.74 per cent. In the 30-share BSE index, barring Bharti Airtel, Bajaj Auto and Maruti Suzuki, 27 stocks ended with gains. The metal sector index was the star performer, up 6.34 per cent to 12,142.72. Keywords: BSE, NSE, Sensex, Nifty, global cues, euro-zone debt crisis
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The Dow Jones Industrial Average rose 22.6 points, or 0.18%, to 12,231, the S&P 500 gained 0.49 point, or 0.04%, to 1,285 and the Nasdaq Composite fell 1.5 points, or 0.05%, to 2,737. Traders took a breather on Friday following a very strong showing in the prior session. Volume on the New York Stock Exchange was much lighter than it was on Thursday when the Dow zoomed 340 points to the upside. Consumer discretionary shares took the biggest losses by a wide margin after Whirlpool (WPH), the biggest appliance manufacturer, pared back its full-year profit estimates and announced job cuts. Meanwhile, miners performed the strongest on the back of a big rally in copper futures. Despite falling share prices Friday, the markets are headed for their best October performance on record, as easing European tensions, and generally upbeat corporate earnings have boosted traders' confidence. Indeed, this week's rally knocked most major market indices into the black for 2011. The Dow, S&P, and Nasdaq are all trading at their highest level in three months. All eyes are still fixed on Europe, however, even after policymakers Thursday crafted a plan to tackle the region's debt crisis that has threatened some of the world's biggest economies. Doubts still remain among analysts as to whether the euro zone's $610 billion rescue fund, even after substantial leveraging, will be enough to tackle future sovereign debt crises, particularly if they strike big economic players, like Italy. The currency bloc is hoping China may make an investment in the fund, taking advantage of its strong position in currency markets. However, European and Chinese leaders downplayed that notion on Friday, according to several media reports from Asia and Europe. Additionally, Spiegel, a major German newspaper, reported that German courts filed a temporary injunction limiting the country's parliament from quickly releasing funds for the rescue fund, potentially
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presenting another setback. The euro fell 0.1% to $1.417 while European blue chips edged slightly lower. Traders also had a slew of corporate and economic news on the domestic front to parse through. Consumer sentiment ticked higher in late October, according to a private survey. The final reading of the Reuters/University of Michigan gauge of consumer sentiment checked in at 60.9, higher than a preliminary reading of 57.5, and topping estimates of 58. Additionally, the expectations and current conditions sub-indices rose to the highest level since July. U.S. personal spending rose 0.6% in September from August, in line with estimates, while personal income rose 0.1%, short of estimates of 0.3%.
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Analysts will be paying close attention to the state of consumers as the key holiday shopping season draws near. Retailers, such as Best Buy (BBY: 26.50, -0.98, -3.57%), may be particularly swayed by these reports. These data come on the heels of a report showing the economy grew at the fastest pace in a year in the third quarter of 2011. Pharmaceutical giant Merck (MRK: 35.11, +0.80, +2.33%) posted thirdquarter profits of 94 cents a share, excluding one-time charges, on revenue of $12 billion, topping estimates on the top and bottom line. Whirlpool said it plans on slicing more than 5,000 jobs, which equates to roughly 10% of its workforce, as it has seen its sales grow more slowly than expected. The world's largest appliance maker also trimmed its full-year earnings forecast. Also on the corporate front, Rochdale Securities' Dick Bove, an influential banking analyst, raised his rating on Goldman Sachs (GS: 115.86, +0.95, +0.83%) from neutral to buy, and bumped up the price target to $135 from $115. Energy futures were in the red following strong gains in the prior session. Oil prices, however, soared 6.8% on the week -- the biggest gain on a percentage basis since February. Light, sweet crude fell 68 cents, or 0.68%, to $93.32 a barrel. Wholesale RBOB gasoline slipped 6 cents, or 2.2%, to $2.68 a gallon. In metals, gold fell 50 cents, or 0.03%, to $1,747 a troy ounce. However copper soared 5.8% -- having its best week since the metal began trading in 1988. Copper is often seen as an indicator of global economic sentiment because of its varied uses in industry. Yields on government debt moved lower. The benchmark 10-year note yielded 2.329% from 2.402%. Corporate News Hewlett-Packard (HPQ: 27.94, +0.85, +3.14%) revealed plans to keep its personal computer business after announcing in August that it would spin the business off in a move that was panned by shareholders. Chevron's (CVX: 109.64, +0.38, +0.35%) quarterly profits topped Wall Street's expectations, however, the oil behemoth's sales fell well short of forecasts.
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Foreign Markets European blue chips fell 0.18%, the English FTSE 100 dipped 0.2% to 5,702 and the German DAX fell 0.2% to 6,346. In Asia, the Japanese Nikkei 225 jumped 1.4% to 9,050 and the Chinese Hang Seng soared 1.7% to 20,019.
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Stocks Post Comeback Rally, But Still Sharply Lower on Week

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Published November 02, 2011
FOXBusiness
FOX Business: The Power to Prosper Wall Street charged higher on Wednesday as traders reacted to a deluge of economic news and developments on Europe's sovereign debt crisis, but the rally only put a relatively small dent in the heavy losses sustained earlier in the week. Today's Markets
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Fed Cuts GDP Forecast, Ups Unemployment Expectations
The Dow Jones Industrial Average climbed 178 points, or 1.5%, to 11,836, the S&P 500 gained 19.6 points, or 1.6%, to 1,238 and the Nasdaq Composite rose 33 points, or 1.3%, to 2,640. Financial shares, as well as energy and material stocks, were leading the way higher on the day. Indeed, Bank of America (BAC: 6.72, +0.32, +5.00%), aluminum giant Alcoa (AA: 10.70, +0.30, +2.88%) were the best performing shares on the blue-chip index. Meanwhile, volatility fell 4% in stark contrast to the 17% spike the day before. Still, the Dow is roughly 400 points to the downside this week, and there could be more volatility in the final two days as the focus turns to unemployment data and the Group of 20 summit. Among the key developments of the day were a slew of headlines from the Federal Reserve, which concluded its two-day monetary policy meeting on Wednesday. The central bank said while the economy has improved, the beleaguered labor market will only gradually strengthen, and downside risks such as "strains in the global financial markets" could pose a problem going forward. It held short-term rates at historic lows as was expected per a prior statement and didn't roll out any additional quantitative easing measures, also in line with expectations. However, during a press briefing, Fed Chairman Ben Bernanke said the central banks stands ready to take more measures to aid the economy, which was interpreted by some analysts as hinting at the possibility of more expanded asset purchases like the quantitative easing program, called QE2, that ended in June. "The QE3 groundwork has now officially been laid with the timing the only issue assuming [the housing market] doesn't recover anytime soon," Peter Boockvar, managing director at Miller Tabak + Co. wrote in a note to clients following the briefing.
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The Fed also pared back its economic growth forecasts for 2011 and 2012, and said also said it expects the unemployment rate to remain higher than previously expected. For this year, the central bank expects expansion of 1.6% to1.7% from 2.7% to 2.9%, and revised its growth expectations for next year to 2.5% to 2.9% from 3.3% to 3.7%. It expects unemployment to remain above 9% for the rest of this year, and recede as low as 7.8% or as high as 8.2% next year. Labor Market in Focus The labor market is coming into focus ahead of the highly-anticipated monthly unemployment report on Friday. The jobs market has been struggling ever since the recession, with the unemployment rate presently stuck above 9%. Private-sector payrolls increased by 110,000 last month, zipping by economists' estimates of a gain of 101,000 jobs. As has been a trend in recent reports, small and medium-sized businesses have added jobs, while large ones shed workers.
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Greece to Hold Referendum on Bailout Package
"Job growth among private industries has recovered since August, reflecting slow but steady growth," economists at Nomura wrote in a note to clients. Planned job cuts fell 63% last month to 42,759 -- the lowest since June - according to outplacement firm Challenger, Gray & Christmas.


Gasparino: MF Global Probe Focusing on Misleading Investors
Continued Uncertainty Over the Euro Zone Market participants have been fixated on the two-year-old sovereign debt crisis for weeks. Less than a week after European leaders struck a wide-ranging agreement to tackle the crisis that analysts fear could put the region's economy in peril, a call by Greek Prime Minister George Papandreou to hold a referendum threatened to derail the entire arrangement, and potentially put the currency bloc in jeopardy. Greece needs billions of euros in rescue aid to stave off a collapse, but international lenders have pushed for highly-unpopular austerity measures, which would be voted on by the entire Greek public in the referendum. It remained unclear Wednesday whether the referendum would come to fruition. The country's cabinet unanimously backed the call, but many lawmakers rejected it, and several members of Papandreou's own party threatened to defect. The fear is that if Greece defaults, the cost for other highly indebted but bigger economies, like Italy, to borrow will jump, substantially worsening the crisis. Indeed, the European Union and International Monetary Fund both said on Wednesday they would withhold the country's sixth aid tranche until after the referendum. Without the aid, Greece can't pay its debts and would likely default, analysts say. The euro rose 0.46% against the U.S. dollar, while European blue chips ticked higher by 0.1%. Energy markets got a boost from a weaker U.S. dollar, and extended gains even after a fairly bearish inventory reports showing unexpectedly large increases in crude oil and gasoline stocks. The benchmark U.S. crude oil contract rose 32 cents, or 1%, to $92.51 a barrel. Wholesale RBOB gasoline rose less than a penny to $2.63 a gallon.
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Gold climbed $17.80, or 1%, to $1,730 a troy ounce. Yields on U.S. government debt were only modestly changed following steep losses the prior day. The 10-year Treasury yields 1.998% from 1.992%. Foreign Markets European blue chips rallied 1.4%, the English FTSE 100 jumped 1.2% to 5,484 and the German DAX soared 2.3% to 5,965. In Asia, the Japanese Nikkei 225 tumbled 2.2% to 8,640 and the Chinese Hang Seng jumped 1.9% to 19,734.
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Hoping Greece Scraps Referendum, Dow Leaps 200
Greek PM Ready to Go, Dump Referendum for Euro Deal European pressure forced Greece to seek political consensus on a bailout plan instead of holding a referendum. Why All the Drama? Let Greece Default An on again off again referendum. Political chaos. Ultimatums from Europe's top leaders. Why all the drama? Just let Greece default.
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Written By Adam Samson, Matt Egan
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FOX Business: The Power to Prosper Notching its second-straight triple-digit rally, Wall Street continued to erase its early-week plunge on Thursday as bullish traders cheered signs Greece may abandon plans for a referendum on its bailout and a number of other developments on the European front. Today's Markets
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The Dow Jones Industrial Average soared 208.43 points, or 1.76%, to 12,044.47, the S&P 500 gained 23.25 points, or 1.88%, to 1,261.15 and the Nasdaq Composite jumped 57.99 points, or 2.20%, to 2,697.97. In addition to hopes Greece will succumb to international pressure and scrap its referendum, the markets responded favorably to signs Greek Prime Minister George Papandreou will need to relinquish control, a surprise interest-rate cut from the European Central Bank and shares of Jefferies (JEF: 10.75, -1.52, -12.39%) erasing a 20% plunge. Concerns about the planned referendum leading to a Greek default mounted earlier this week, but appear to have receded. At least for now, they have subsided, subject to change by tomorrow, said Michael James, managing director of equity trading at Wedbush Securities, alluding to the fluid nature of the situation. While the midweek surge of 387 points isn't enough to wipe out Monday and Tuesdays tumbles, which wiped out nearly 600 Dow points, the volatility continues to show how focused global markets are on Europes efforts to resolve its nearly two-year long sovereign debt crisis. The market is really schizophrenic. You can just see the slightest bit of news -- positive or negative -- moves the market in that direction. Everyone reacts instantaneously to the news, said Jason Weisberg, senior vice president at Seaport Securities. These swings in the market place are a direct result of that and it's really scared the long-term players away. All Eyes on Europe
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The latest upswing was set in motion by the events in Greece, which appears to be moving away from the idea of holding a referendum on the rescue aid it was expected to receive. The Greek public has violently protested many of the austerity measures international lenders have pushed for as a condition of the bailout. A "no" vote in a referendum, analysts say, could leave the highly-indebted country with no other choice but to default when its next bond payment comes due next month -- a result that could damage larger economies and slam the global financial system. Reports also swirled that Papandreou was going to resign, paving the way for a unity coalition run by Lucas Papademus, a former governor of the Bank of Greece. While the resignation never materialized, Papandreou said he wants the legislature to hold a no-confidence vote on Friday. Meanwhile, new ECB President Mario Draghi made a splash by unexpectedly slicing a key interest rate by 0.25 percentage points to 1.25% on Thursday The ECB had been previously balancing concerns over the escalating debt crisis with worries low interest rates may lead to higher levels of inflation. After another whirlwind day, European blue-chip stocks closed sharply higher, leaping 2.5%, while the euro gained 0.52% to $1.3819. The crisis in Europe has already begun impacting U.S. banks. MF Global, previously a major player in the derivatives market, filed for Chapter 11 bankruptcy protection less than a week after reporting a $6.3 billion exposure to European sovereign debt. Investment bank Jefferies (JEF: 10.75, -1.52, -12.39%) shares plunged 20% on Thursday due to concerns about its own exposure. However, its stock raced back and even briefly turned positive after it released a statement saying it has "no meaningful net exposure" to these assets. Attention to Shift Back to U.S.? The U.S. economy is also coming squarely into focus, as the government's all-important jobs report is on tap for Friday. Economists expect the report to show the unemployment rate stuck at 9.1% in October as the economy struggled to add jobs in light of strong headwinds. Ahead of that report, the government said new claims for unemployment benefits fell to 397,000 last week from 406,000 the week prior. Economists were predicting a drop to 400,000. Meanwhile, the Institute for Supply Management's non-manufacturing PMI gauge dipped to 52.9 for October, compared with 53 in September and consensus estimates of 53.5. Readings above 50 point to expansion, while those below indicate contraction. Separately, the government said factory orders rose 0.3% in September from the month prior, besting the 0.1% drop that analysts forecasted. Energy closed mostly higher. Light, sweet crude rose $1.56, or 1.69%, to $94.07 a barrel. Wholesale RBOB gasoline fell 2 cents, or 0.74%, to $2.61 a gallon. Gold jumped $35.50, or 2.1%, to $1,765 a troy ounce. Yields on government debt ticked higher. The 10-year Treasury note yields 2.058% from 1.987%.
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Corporate Movers Kraft (K: 49.91, -4.13, -7.64%) slumped almost 8% amid disappointment over its steeper-than-expected 17% slide in third-quarter earnings and lowered guidance. Even the more optimistic end of the new range would trail the Street's view. Qualcomm (QCOM: 56.11, +3.93, +7.53%) raced 7% higher a day after reporting a 22% rise in quarterly profits that exceeded estimates. The mobile chip maker also issued a bullish guidance for its new fiscal year. Foreign Markets European blue chips rose 2.5%, the English FTSE 100 rose 1.2% to 5,552 and the German DAX jumped 2.8% to 6,132. In Asia, the Japanese Nikkei 225 dropped 2.2% to 8,640 and the Chinese Hang Seng tumbled 2.5% to 19,243.
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Why All the Drama? Let Greece Default

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Notching its second-straight triple-digit rally, Wall Street continued to erase its early-week plunge as bullish traders cheered signs Greece may abandon plans for a referendum on its bailout and a number of other developments on the European front.
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Sensex up by 134 pts on easing global worries
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The BSE benchmark Sensex was up by 134 points in early trade on Friday as euro zone debt worries eased after Greece shelved plans for a financial bailout referendum and after a surprise interest rate cut by the European Central Bank (ECB). Public sector oil marketing companies BPCL, HPCL and Indian Oil Corporation rose by between 1.05 per cent 1.3 per cent after hiking petrol prices by Rs 1.80 per litre to Rs 1.91 per litre from midnight on Thursday. The other gainers in early trade were Sterlite Industries (up 2.27 per cent), BHEL (2.23 per cent), Hindalco Industries (1.99 per cent), Hero MotoCorp (1.89 per cent) and Tata Steel (1.76 per cent). The BSE benchmark Sensex resumed higher 17,674.70 and shot up further to 17,702.26 before quoting at 17,615 at 1015 hours, a net rise of 133.73 points, or 0.76 per cent, from its previous close. The NSEs 50-share Nifty index also firmed up by 32.75 points, or 0.62 per cent, to 5,298.50 at 1015 hours. Meanwhile, Asian stocks rallied in early trade with exporters and resource firms among the notable gainers following a surprise interest rate reduction by the European Central Bank and after Greece shelved plans for a referendum on a proposed financial bailout. The key benchmark indices in China, Hong Kong, Japan, South Korea, Taiwan and Singapore were up by betwe 0.78 per cent and 3.31 per cent. Keywords: Sensex, Nifty, BSE, NSE, Greek referendum plan
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Bulls Charge After Italian PM Reveals Resignation Plans
Corzine's Wealth Is Eroding With His Reputation Exclusive: Jon Corzine, former head of nowbankrupt MF Global, has seen his once immense fortune wither away amid a series of missteps. Italian PM to Resign After Budget Vote Approval Italian Prime Minister Silvio Berlusconi plans on resigning after a budget law presently making its way through parliament is approved.
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Wall Street staged a fierce rally in the final hours of trading on Tuesday after it was revealed Italy's prime minister would resign, potentially paving the way for the euro zone's third-biggest economy to enact much-needed reforms aimed at quelling its debt debacle.
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FOX Business: The Power to Prosper Wall Street staged a fierce rally in the final hours of trading on Tuesday after it was revealed Italy's prime minister would resign, potentially paving the way for the euro zone's third-biggest economy to enact much -needed reforms aimed at quelling its debt debacle. Today's Markets The Dow Jones Industrial Average jumped 102 points, or 0.84%, to 12,170, the S&P 500 gained 14.8 points, or 1.2%, to 1,276 and the Nasdaq Composite climbed 32.2 points, or 1.2%, to 2,727. The markets managed to make a swift turnaround from solid losses to sizeable gains. Financials led the rally on the day, but every major sector ended in the green. Yields on government debt edged up, while volatility plummeted 7% as traders rushed back into stocks. The benchmark 10-year Treasury note yields 2.084% from 2.038%. All eyes have once again turned to the euro zone, where leaders are racing to stem the sovereign debt crisis that is now threatening Italy, the currency bloc's third-largest economy.
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Italian Prime Minister Silvio Berlusconi revealed he would resign following the passage of a 2012 budget bill after losing his majority support earlier in the day on Tuesday. The move was seen as positive by the market participants amid hopes the ouster of the premier would open to the door to reforms necessary to keep the county's debt from spiraling out of control. Even with Berlusconi's resignation, the country is facing a tough situation.
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Italy, which has a 120% debt to economic output level, has seen the yields on its benchmark 10-year note spike to above 6.8% -- a fresh euro-era high -- as worries have mounted it may need a rescue like its peers, such as Greece, have recently required.
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The country's borrowing costs are "clearly unsustainable," according to economists at Barclays Capital. The higher the yield on its debt, the more it costs a country to borrow in the private markets. With Italy's high level of public debt, such a high interest rate make it extremely difficult, if not impossible, for the country to cut its debt without support, analysts say. European blue chips held on to sizeable gains afternoon trading there, having closed before Berlusconi resigned, as a result of strong corporate earnings from big-name companies, like Vodafone (VOD: 28.63, +0.42, +1.49%) and Intercontinental Hotels (IHG: 17.49, -0.23, -1.30%), according to Chris Beauchamp, an analyst at London-based trading firm IG Index. The euro rose 0.45% to $1.383. On the U.S. front, Priceline.com (PCLN: 552.85, +43.85, +8.61%), the biggest American travel website by market capitalization, saw its earnings more than double in the third quarter from the same period last year. Dynegy's (DYN: 3.76, +0.81, +27.46%) holding company filed for Chapter 11 bankruptcy protection, while its parent company did not. The method the power generation company used to file may protect shareholders in the parent company, while causing the bondholders to take hefty losses, which is unusual, the Wall Street Journal reports. There were no major economic reports released on Tuesday. Energy markets were mixed. The benchmark New York crude oil contract climbed $1.28, or 1.3%, to $96.80 a barrel. Wholesale RBOB gasoline slid 2 cents, or 0.8%, to $2.71 a gallon. Gold nudged higher by $8.10, or 0.45%, to $1,799 a troy ounce. Foreign Markets European blue chips gained 1.4%, the English FTSE 100 jumped 1% to 5,566 and the German DAX rallied 0.57% to 5,963. In Asia, the Japanese Nikkei 225 fell 1.3% to 8,656 and the Chinese Hang Seng held steady at 19,678.
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FOX Business: The Power to Prosper Wall Street zipped higher on the heels of the worst selling frenzy in months as traders reacted to upbeat corporate news, encouraging economic data and kept close tabs on Europe. Today's Markets The Dow Jones Industrial Average jumped 113 points, or 0.96%, to 11,894, the S&P 500 gained 10.6 points, or 0.86%, to 1,240 and the Nasdaq Composite rose 3.5 points, or 0.13%, to 2,625.
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In what was a stark contrast from the powerful selloff Wednesday that knocked the S&P 500 and Nasdaq into the red for the year, volatility fell by more than 8%, while the yield on U.S. government debt edged higher in calmer trading. The 10-year Treasury note yields 2.056% from 1.997%. Jobs, Trade Data Top Expectations Traders finally had a round of economic data to parse through after three very light days earlier in the week. New claims for unemployment benefits fell to 390,000 last week, the lowest level since April, from 400,000 the week prior. Economists have been focused strongly on the labor market, which has been slow to recover from the recession, and has become a major political issue. The U.S. trade deficit narrowed substantially to $43.1 billion in September from $44.92 billion in August, and smaller than the $46 billion economists expected. Exports jumped 1.4%, while imports only edged up by 0.3%. "This report is reassuring from that standpoint that even if some export demand to the euro area declines, increasing demand for US goods in Asia can support continued export growth," Troy Davig, an economist at Barclays Capital, wrote in a note to clients. The difference between exports and imports figures directly into broader measures of economic output. 'Question Marks Abound' for Europe Headlines from Europe have been a major driver of sentiment for the past several sessions, and still contributed to swings on Thursday. Italy -- one of the world's biggest economies -- is in the throes the European debt crisis, having seen its borrowing costs surge to unsustainable levels, igniting fears that it will lose access to financing in the private market. If that were to happen, the country that has $2.6 trillion in public debt would need international support and risk defaulting, which analysts fear could rock the global financial system. The country's parliament pushed a key vote on several economic reforms to this weekend, which was seen as a positive by market participants. European leaders have strongly pressured the country to take on reforms to cut its public debt down. Additionally, Prime Minister Silvio Berlusconi agreed to step down after the vote, paving the way for a new leader to push the reforms. Italy's President, Giorgio Napolitano, took steps to boost the standing of Mario Monti, a well-respected economist that may be tapped to lead the emergency government there. Italy also auctioned 1-year notes Thursday morning. The auction was seen by strong as analysts, but the country was forced to pay a steep rate of 6.087%. The European Central Bank also bought Italian bonds in a bid to keep yields down, according to reports. Still, market participants have struck a cautious tone: "Political uncertainty in Italy prevails as question marks abound around the budget," analysts at Nomura wrote in a note to clients. Also on the European front, Greece chose former European Central
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Bank vice-president Lucas Papademos as the leader of the new government formed after Prime Minister George Papandreou agreed to step down over the weekend. European blue chips rose 0.25%, while the euro climbed 0.39% to $1.360. Energy markets were mixed. The benchmark New York oil contract gained $2.04, or 2.1%, to $97.78 a barrel. Wholesale RBOB gasoline slumped 1 cent, or 0.28%, to $2.64 a gallon. In metals, gold sunk $32.00, or 1.8%, to $1,760 a troy ounce. Foreign Markets European blue chips rose 0.25%, the English FTSE 100 slipped 0.28% to 5,445 and the German DAX gained 0.66% to 5,868. In Asia, the Japanese Nikkei 225 plummeted 2.9% to 8,501 and the Chinese Hang Seng plunged 5.3% to 18,964.
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FOX Business: The Power to Prosper The markets soared on Friday as traders cheered upbeat consumer sentiment data, corporate news, and grew cautiously optimistic that European leaders would be able to keep the debt crisis in check. Today's Markets
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The Dow Jones Industrial Average jumped 260 points, or 2.2%, to 12,154, the S&P 500 gained 24.2 points, or 2%, to 1,264 and the Nasdaq Composite rose 53.6 points, or 2%, to 2,679. In a sign of the breadth of the rally, every Dow component was in the green, led by surging Disney (DIS: 36.70, +2.06, +5.95%) shares. The owner of famous American brands like Mickey Mouse and ESPN posted earnings that far exceeded expectations. Volatility, meanwhile, plummeted 8.6% as traders piled back into the markets for a second-straight day after fleeing on Wednesday in the worst rout in months. It has been a tumultuous week for Wall Street as market participants have parsed through a deluge of headlines on the euro zone's sovereign debt crisis. Indeed, even with a steep selloff on Monday, the rally was powerful enough to knock the S&P 500 and the Nasdaq into the green for the year. Italy, the euro zone's third-biggest economy, is making headway on passing economic reforms that analysts see as a crucial part of knocking down its enormous $2.6 trillion public debt load. The country's Senate approved a key debt-reduction law on Friday, which paves the way for final approval over the weekend. Additionally, Prime Minister Silvio Berlusconi agreed to resign after the law is passed, potentially opening the door to the formation of an emergency coalition government that may be led by former European Union Competition Commissioner Mario Monti. Monti is seen by many analysts as having the capacity to run an emergency government that is capable of passing the reforms. Italy saw its 10-year bond yields spike above 7% on Wednesday -- the level that forced Greece, Ireland and Portugal to require a bailout from EU governments and the International Monetary Fund. The yield has fallen close to a percentage point from the highs on Wednesday, however, according to data compiled by FOX Business. With the country's much more prominent economic standing, it has become more crucial than ever, analysts say, for Italy to convince the markets it can adapt reforms so it can sustain itself to retain access to financing in the private marketplace.
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11-Nov-2011
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"We are not out of the woods just yet," Manoj Ladwa, a senior trader at London-based ETX Capital, warned in an interview with FOX Business, citing the still-dicey political climate in Europe and the bounty of economic data on tap for next week. Indeed, it remains unclear whether the entire continent has the firepower, or the political will, to rescue one of the world's biggest economies if it became necessary. Plus political instability could potentially still force early elections instead of a unity government, while the chances of that setback are seeming slimmer. European blue chips soared 3.1%, while the euro leaped 0.97% to $1.373. Meanwhile, the U.S. dollar tumbled 0.88% against a basket of six world currencies. On the U.S. front, consumer sentiment data topped expectations. The Reuters/University Michigan gauge of sentiment jumped to 64.2 in early November from a final reading of 60.9 in October, easily besting estimates of 61.5. With the kick off of the crucial holiday shopping season looming just weeks away, sentiment data is particularly important. Analysts will be looking to see how the continuing market turmoil, Europe's debt crisis and a still-weak labor market is affecting the consumer. Retailers like Wal-Mart (WMT: 59.20, +1.07, +1.84%) and Best Buy (BBY: 28.09, +0.79, +2.89%) may be particularly affected by these data. The consumer sector is also a major part of the broader economy, so a large swath of other companies may be affected as well. In energy markets, crude oil prices are heading back toward the $100 mark after moderating in recent weeks. The benchmark WTI contract traded in New York climbed $1.21, or 1.2%, to $98.99 a barrel. Wholesale RBOB gasoline fell 3 cents, or 1.3%, to $2.60 a gallon. Gold rose $28.50, or 1.6%, to $1,788 a troy ounce. U.S. government debt markets are closed for the Veterans Day holiday. Foreign Markets European blue chips soared 3.1%, the English FTSE 100 climbed 1.9% to 5,445 and the German DAX rallied 3.2% to 6,057. In Asia, the Japanese Nikkei 225 edged 0.16% higher to 8,514 and the Chinese Hang Seng jumped 0.91% to 19,137.
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The Hindu : Business / Markets : Sensex climbs 200 points in opening trade
Business Markets
Sensex climbs 200 points in opening trade
PTI
The Hindu Traders in Kochi celebrate a spike in the Sensex. File photo
The BSE benchmark Sensex rallied by nearly 200 points in opening trade today as IT and financial stocks rose fresh buying by funds and retail investors, amid a firming trend in global markets. The 30-share index, which has lost almost 377 points in the previous two sessions, recovered by 199.17 points, 1.15 per cent, to 17,391.99. In a similar fashion, the wide-based National Stock Exchange Nifty index moved up by 58.60 points, or 1.13 per to 5,227.45. Brokers attributed the rise to a firming trend in Asia in the wake of a higher close in the U.S. market on Friday, easing concerns over Europes debt crisis, as former EU commissioner Mario Monti was nominated to head a n Italian Cabinet. Stocks of Kingfisher Airlines, which slumped to a record low of Rs. 17.55 on Friday on escalating financial conce recovered by 4.07 per cent to Rs. 20.45 after reports that the company plans to cut debt. In Asia, Hong Kongs Hang Seng Index was up 2.48 per cent, while Japans Nikkei Index rose by 1.21 per cent in morning trade. In the US, the Dow Jones Industrial Average closed 2.19 per cent higher in Fridays trade. Keywords: sensex, markets, share prices
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14-Nov-2011 12:12 AM
Oil prices surge 20% in 6 weeks - Nov. 14, 2011
http://money.cnn.com/2011/11/14/markets/oil_prices/index.htm?hpt=hp_t2
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comments By James O'Toole November 14, 2011: 4:01 PM ET Co-founder of social network Diaspora dies at 22 Boeing's $18 billion deal is biggest ever Green Bay Packers to sell stock to fans 5 of the world's fastest supercomputers 6 incredible shipping container homes
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US Indexes Index Dow Click chart for more on oil and other commodities Recommend 61 recommendations. Sign Up to see what your friends recommend. Nasdaq S&P 500 Treasuries symbol Last 12,078.98 2,657.22 1,251.78 2.04 Market Movers Change -74.70 -21.53 -12.07 -0.01 % Change -0.61% -0.80% -0.96% -0.63%
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NEW YORK (CNNMoney) -- Americans reeling from all the grim economic news lately can add one more item to the list -surging oil prices. Analysts say the recent rally that's sent U.S. crude prices up 20% since the start of October has been driven by a broad range of factors, from a weaker dollar to an easing supply glut and ongoing tension in the Middle East. And if that continues, it could add up to a greater burden for drivers, in the form of higher gas prices. The U.S. Energy Information Administration said last month that U.S. prices would average $3.52 per gallon this year before dropping to $3.43 in 2012. But that all could change if oil continues to trend higher. How much are you paying for gas? U.S. crude prices are within spitting distance of $100 a barrel -- a level not seen since mid-July, when the national average for a gallon of gas was around $3.69, according to motorist group AAA.

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Stephen Schork, publisher of the industry newsletter The Schork Report, said if the rally in U.S. crude really takes off, gas prices could top $4 -- a level not seen since July 2008, when prices hit a record high of $4.114. "There's a lot of things going on here," said Phil Flynn, senior market analyst at PFG Best. The dollar has weakened and emerging market demand, particularly from South America, has strengthened, Flynn said. At the same time, U.S. crude supplies have been tightening. A weaker dollar typically signals a rise in oil prices, since the exchange rate gives foreign countries a boost in the purchasing power of their currencies. On the supply side, the main U.S. trading hub in Cushing, Okla., which houses the oil to which U.S. West Texas Intermediate (WTI) prices are pegged, experienced a bottleneck earlier this year that led to an accumulation of oil at the site. That situation has eased over the past few weeks, analysts say, contributing to the price rise. "It was just a temporary situation," said Peter Beutel, an oil analyst with Cameron Hanover. "It doesn't look like it's ever likely to occur again." Further construction is planned around Cushing that analysts say should improve its transportation infrastructure and reduce the chance of future gluts from occurring. Schork said price increases are also being driven by short sellers who are getting pushed out of the market and forced to cover their trades. In addition, an unusually large gap between the prices of WTI and Brent crude, the European benchmark, is now closing, he said. Brent and WTI prices have historically tracked within just a few dollars of each other, but this year they've been separated by a wide gap. In September, that gap stretched to a whopping $25. That happened in part because, while the glut in Oklahoma led to an oversupply of WTI, production in Europe's North Sea dropped sharply and the Libyan industry was disrupted by civil war. Those events helped push Brent prices above $125 a barrel in April. Libya oil eyed by Western companies At this point, however, Beutel said there is no reason for such a large price gap, and he would be "shocked" if it doesn't narrow to less than $5 by the spring. Brent traded around $112 a barrel Monday and has climbed less steeply than WTI over the past few weeks. In early October, Brent was trading around $104 a barrel.
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14-Nov-2011 11:34 PM
"The WTI certainly has a lot more room to go higher than the Brent does, " Beutel said. To add to all this, recent concerns that hostilities may break out between Israel and Iran and disrupt Middle Eastern oil production are also driving up prices globally, said Jim Ritterbusch, president of oil trading advisory firm Ritterbusch and Associates. Saudi oil production cut looms But the biggest question for oil prices still remains one of demand, especially in light of the ongoing European debt crisis, which could still spiral out of control. Production gains in the North Sea and Libya, along with a revival of the Iraqi oil industry will mean little if the European crisis drags the global economy with it. "It will all hinge on the eurozone," Ritterbusch said. "If you could tell me where the euro currency is going to be a month or two down the road, I could tell you where oil prices will be." First Published: November 14, 2011: 2:53 PM ET Share Email
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14-Nov-2011 11:34 PM
Gas Pricse Hit All-Time Highs for November | Moneyland | TIME.com
http://moneyland.time.com/2011/11/15/gas-prices-sit-at-all-time-high-pri...
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By BRAD TUTTLE | @bradrtuttle | November 15, 2011 | 19
ADAM GAULT / GETTY IMAGES
While the price at the pump has fluctuated in recent monthsfalling sharply one week, creeping back up the nextdriv are paying less for gas than they did in the spring and summer of 2011. Theyre also paying much less than in the summ of 2008, when fillups cost record highs. Perhaps this is why its falling under the radar that the price for a gallon of gasoline is currently at an all-time high for this time of year. Normally, in autumn and early winter, the price of gas follows the temperature patterns: Both tend to drop like clockw with the price of gas falling largely due to a parallel drop in consumer demand. At certain times this fall, gas prices hav gone along with the trend; during one 30-day period, the average price dropped about 1 per day for a regular gallon o gas. But the price decline hasnt been consistent. At other times, prices rose when they were predicted to drop, and rem higher than what experts had forecasted over the summer. (MORE: The Car Starting at $12,445. Wanna Buy One? Thatll Cost $14K+) The national average for a gallon of regular sits at $3.41, about the same as it was both one week ago and in early Octo Drivers dont seem all that outraged by the prices at the pump, however, perhaps because as recently as early Septembe the national average was over $3.60. Prices were even more expensive from late spring through summer. It seems like drivers are relieved to not be paying the prices of a few months ago, and its this relief thats making it easy to overlook fact that gas stations are charging more right now than they ever have at this time of year. The Los Angeles Times reports that, until now, the all-time-high price for a gallon of regular in mid-November was $3 hit in 2007. Prices are roughly 10% higher right now than the previous all-time high, and substantially more expensive than one year ago, when the average gallon of regular sold for $2.89. (MORE: A New Study for Drivers Who Hat the Check Engine Light) Experts have predicted that the average would dip to $3.25 or under by years end. Will that happen? The experts have been wrong before. Brad Tuttle is a reporter at TIME. Find him on Twitter at @bradrtuttle. You can also continue the discussion on TIM Facebook page and on Twitter at @TIME.
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16-Nov-2011 9:04 AM
Gas Pricse Hit All-Time Highs for November | Moneyland | TIME.com
http://moneyland.time.com/2011/11/15/gas-prices-sit-at-all-time-high-pri...
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16-Nov-2011 9:04 AM
The Hindu : Business / Markets : Oil near $102 after 36 percent rally in 6...
Business Markets
Oil near $102 after 36 percent rally in 6 weeks
AP
Oil prices fell slightly to near $102 a barrel Thursday in Asia, pausing a 36 percent rally during the last six week Benchmark crude for December delivery was down 39 cents at $102.20 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $3.22 to settle at $102.59 in New Yo on Wednesday. Brent crude for January delivery slumped 54 cents to $111.34 a barrel on the ICE Futures Exchange in London. Oil has soared from $75 on Oct. 4 amid signs the U.S. economy is growing slowly rather than slipping into a recession as some analysts feared during the summer. Oil prices jumped Wednesday after Canadian pipeline company Enbridge announced it would ship crude away a key delivery point in Cushing, Oklahoma. The company bought a 50 percent stake in the Seaway pipeline from ConocoPhillips and plans to use it to transport oil from Cushing to refineries along the Gulf Coast, where much will be shipped overseas because of rising demand from Latin America. The benchmark U.S. crude is West Texas Intermediate, or WTI. The belief that rising domestic production is flooding Cushing dictated the fate of WTI for most of the year, Barclays Capital said in a report. This is where the reversal of Seaway has a huge totemic significance, in its ab to debottleneck Cushing. J.P. Morgan raised its 2012 forecast for the average price of crude to $110 from $97.50. In other Nymex trading, heating oil fell 0.9 cent to $3.13 per gallon and gasoline futures slid 2.6 cents to $2.61 p gallon. Natural gas gained 0.2 cent at $3.35 per 1,000 cubic feet. Keywords: oil prices, crude prices
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17-Nov-2011 5:09 AM
The Hindu : Business / Markets : Sensex rallies 472 points on global cues;...
Business Markets
Sensex rallies 472 points on global cues; regains 16,000 level
PTI
The Bombay Stock Exchange benchmark Sensex on Monday rallied 472 points to regain the crucial 16,000 mar after a week amid firm global markets and investor hopes of more economic reforms following the government move to allow FDI in multi-brand retail. The Sensex, which touched two-year low last week under tremendous selling pressure, spurted 471.70 points, o 3.01 per cent to 16,167.13. The gauge had fallen below 16,000 level on November 21. On similar lines, the broad-based National Stock Exchange index Nifty shot up 141.25 or 3 per cent to 4,851.30 by bluechips like Reliance Industries, Infosys, Tata Motors, Tata Steel and Tata Consultancy Services. Brokers said that despite political opposition to the move, governments decision to open up the retail sector to greater FDI inflows, particularly 51 per cent holding in multi-brand retail has raised hopes that more such refor could follow. Besides, they said, strong cues from Asian markets and firm openings in Europe on reports that the IMF may h in easing the eurozone debt crisis bolstered Indian markets. RIL and Infosys, with combined weight of 20 per cent in the Sensex, shot up on value buying after recent declin RIL spurted by 3.77 per cent and Infosys by 1.52 per cent. The metals sector index gained the most, adding 5.15 per cent at 10,383.68, followed by banking index up 3.6 cent at 10,124.96. Oil and Gas index rose 3.38 per cent to 8,166.62 and realty index by 2.75 per cent to 1,622.78. Of the 30 Sensex stocks, 28 ended with gains, while two remained in the negative zone. Keywords: Sensex, BSE, Nifty, NSE
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Cyber Monday Rally: Stocks Zoom Higher Amid Record Thanksgiving Sales, EU Hopes
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FOX Business: The Power to Prosper After getting pummeled over the past two weeks, Wall Street posted big gains on Monday as traders reacted to record retail sales over the Thanksgiving weekend and progress on solving Europe's debt crisis. Today's Markets The Dow Jones Industrial Average soared 291 points, or 2.6%, to 11,523, the S&P 500 jumped 33.9 points, or 2.9%, to 1,193 and the Nasdaq Composite rallied 85.8 points, or 3.5%, to 2,527. After falling close to 1000 points, or 8%, over the past two weeks, the blue chips have rallied on the day. The Nasdaq had an even better performance, its best on a percentage basis since August. Energy and basic material shares posted some of the biggest gains. In fact, aluminum giant Alcoa (AA: 9.46, +0.51, +5.70%) was one of the best-performing Dow components. In a sign of the breadth of the rally, more than 95% of volume on the New York Stock Exchange was in advancing shares. Volatility, meanwhile, tumbled 6.8%. Yields on U.S. Treasuries climbed as traders raced back into equity markets. The benchmark 10-year note yields 2.059% from 1.967%.
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Despite an unemployment rate that is stuck above the 9% and slow economic growth, American shoppers came out in force on Thanksgiving weekend -- seen as the kickoff of the key holiday shopping season. Retailers raked in $52.4 billion in sales over the weekend, according to the National Retail Federation -- representing a 16.4% surge from last year. The average shopper spent $398.62 from $365.34 the year prior, the trade group said.
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A large swath of retailers posted big gains. Electronics giant Best Buy (BBY: 26.49, +0.86, +3.36%) and department store Macy's (M: 30.84, +1.39, +4.72%) were among the big retailers to perform the strongest. Analysts are also expecting strong results on so-called Cyber Monday, in which online retailers generally offer their steepest discounts. Indeed, Amazon.com (AMZN: 194.15, +11.75, +6.44%) the biggest online retailer, was up sharply as well. Market participants were also keeping close tabs on the situation in Europe, where leaders are racing to stem the region's worsening debt crisis. Euro zone leaders, led by Germany and France, are working on a plan to force tighter fiscal integration in the 17-member currency bloc that could be passed by December and implemented early next year, according to a report by the Wall Street Journal. Officials believe the plan would potentially be able to skirt a timeconsuming change to the European Union treaty, and could pressure the European Central Bank to make a much stronger intervention into the bond market, the report said. Several countries, such as Italy and Spain, have seen their bond yields, and therefore borrowing costs, soar, raising the specter that they may require international assistance if action isn't taken to keep the yields in check. Traders also cited a report by an Italian newspaper that the International Monetary Fund may be preparing a massive loan for Italy worth roughly $800 billion as part of the reason for the optimism. However, the IMF has denied this report. Analysts that have been closely eyeing the crisis in Europe still struck a cautious tone on Monday. "It is too early to be truly confident," analysts at Barclays Capital wrote in a note to clients, citing a slew of variables that could still obstruct the process. European blue chips zoomed 5.2% higher, while the euro fell 0.09% to $1.331. The dollar sunk 0.45% against a basket of six world currencies. Energy markets got a strong boost from rallying equities and a weaker dollar. The benchmark crude oil contract traded in New York jumped $1.44, or 1.5%, to $98.21 a barrel. Wholesale RBOB gasoline surged 7 cents, or 2.8%, to $2.52 a gallon. In metals, gold leaped $26.00, or 1.5%, to $1,715 a troy ounce. The economic calendar is fairly light on Monday. ET. Sales of new U.S. homes rose 1.3% in October from September to an annualized rate of 307,000 units, missing estimates of a 315,000-unit rate. Foreign Markets European blue chips zoomed 5.2% higher, the English FTSE 100 leaped 2.9% to 5,313 and the German DAX rallied 4.6% to 5,745.
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In Asia, the Japanese Nikkei 225 rose 1.6% to 8,287 and the Chinese Hang Seng gained 2% to 18,038.
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Sensex up 115 pts despite weak GDP numbers

Published on Wed, Nov 30, 2011 at 17:36 | Source : PTI Updated at Wed, Nov 30, 2011 at 17:39
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Mumbai, Nov 30 (PTI) The BSE Sensex gained 115 points today in volatile trade to close at 16,123.46, as investors shrugged off low GDP growth numbers for the second quarter and bought recently battered stocks despite weak global cues. Refinery, FMCG Share and technology stocks were in demand, while consumer durables, realty, auto and banking attracted profit-booking. Top Sensex 1 tweet heavyweight RIL gained 1.80 per cent, adding more than 31 points to the gains. Other blue-chips -- Bharti Airtel, ITC, ONGC, HDFC Bank, TCS, retwee HUL and HDFC were also in demand and aided the uptrend. However, 0 selling in ICICI Bank, Tata Motors, Hero MoroCorp and Sterlite restricted the gains. Meanwhile, confirming economic slowdown, GDP expanded just 6.9 per cent in second quarter of 2011-12, as against 8.4 per cent in the same period last fiscal. The government has lowered its full-year growth projection to 7.3 per cent. Senior Research Analyst at Bonanza Portfolio Shanu Goel said, however, "To the relief of the bulls the growth Share figures came at 6.9 per cent, as per the market expectation. Though growth has slowed down across sectors, the market accepted the fact amid global turmoil and uncertainties." The BSE 30-share Sensex opened lower on weak Asian cues. Later, it moved erratically before ending at 16,123.46, up 115.12 points or 0.72 per cent. Yesterday, it had fallen 158.79 points or 0.98 per cent. The 50-issue Nifty of the National Stock Exchange also rebounded by 26.95 points or 0.56 per cent to 4,832.05. MORE 1 PREVIOUS STORY All you want to know about taxation on various products NEXT STORY Air India lenders OK financial restructuring plan
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The Hindu : Business / Markets : Sensex up 115 pts on value buying in vol...
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Sensex up 115 pts on value buying in volatile trade
PTI
The Hindu Traders at a brokerage firm in Mumbai. File photo
The BSE benchmark Sensex rose 115 points on Wednesday on value buying, which helped it wipe out initial loss volatile trade, despite low GDP growth numbers for the second quarter. After losing 115 points, Sensex bounced back to close 115.12 points, or 0.72 per cent, up at 16,123.46 led by refin and IT stocks. Similarly, the broad-based National Stock Exchange index Nifty rose 26.95 points, or 0.56 per cent, to 4,832.05 moving between 4,851.55 and 4,754.80. Marketmen said trading sentiment improved on investors purchasing the recently battered stocks at cheaper le following the recent over 9 per cent fall in Sensex. They also said that GDP growth of 6.9 per cent in the July-September quarter was in line with market expectati which kept the investor sentiment up even as the global markets were subdued on the euro zone debt crisis. The major contributors to the upsurge were Reliance Industries, Infosys, SBI, Bajaj Auto, Bharti Airtel, Maruti Suzuki and TCS. The Oil & Gas sector index gained the most by rising 1.63 per cent to 8,152.63, followed by FMCG -- 1.2 per cent 4,040.82, Teck -- 0.95 per cent to 3,352.80 and IT -- 0.64 per cent to 5,499.09. Keywords: BSE, NSE, Sensex, Nifty, volatile trading
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FOX Business: The Power to Prosper Wall Street rocketed higher in the final trading session of what has been a tumultuous month as traders cheered a coordinated action by central banks to buttress money markets and a bounty of bullish economic data, pushing the Dow and S&P 500 above psychologically-important levels. Today's Markets
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Central Bank Movement Boost Markets, But For How Long?
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15 Largest Point Gains in DJIA History

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The Dow surged more than 490 points Wednesday as traders reacted to a move by global central banks to ease strained money markets, and a slew of strong economic data. Wednesday's buying frenzy marked the 7th-largest point gain in Dow history. Here are the top 15.
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3 Trade Date 10-13-2008 10-28-2008 11-13-2008 03-16-2000 03-23-2009 11-21-2008 11-30-2011 07-24-2002 09-30-2008 07-29-2002 08-09-2011 08-11-2011 03-18-2008 03-11-2008 10-20-2008 Close 9,387.61 9,065.12 8,835.25 10,630.61 7,775.86 8,046.42 12,048.68 8,191.29 10,850.66 8,711.88 11,239.77 11,143.31 12,392.66 12,156.81 9,265.43 Net Change 936.42 889.35 552.60 499.19 497.48 494.14 490.05 488.95 485.21 447.48 429.92 423.37 420.40 416.66 413.21 Percentage Change 11.08% 10.88% 6.67% 4.93% 6.84% 6.54% 4.24% 6.35% 4.68% 5.41% 3.98% 3.95% 3.51% 3.55% 4.67%
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01-Dec-2011
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01-Dec-2011
The Hindu : Business / Markets : Sensex ends 360 points up
Business Markets
Sensex ends 360 points up
PTI
The Bombay Stock Exchange benchmark Sensex on Thursday climbed to two-week high, gaining 360 points on foreign fund inflows and firm global markets on reports that the worlds leading bankers are evolving a plan to resolve the eurozone crisis. Sensex, which gained 115 points on Wednesday, opened 590 points up. However, it witnessed some profit-book and closed 359.99 points up at 16,483.45, the level last seen on November 17. In all, 25 of the 30 Sensex stocks closed with gains, led by Reliance and Infosys. RIL was up 2.53 per cent, while Infosys gained 1.74 per cent. ICICI Bank rose 6.76 per cent to its highest level in two weeks following the recent The stock had plunged 23.5 per cent in November. The National Stock Exchange index Nifty regained the 5,000 level intra-day, but ended at 4,936, up 104.80 poi Brokers said cues from Asia and Europe were firm as after the U.S. Federal Reserve, the European Central Ban the Central Banks of Canada, Britain, Japan and Switzerland agreed to provide funding to resolve eurozone deb crisis. Sectorally, the metals index gained 4.14 per cent to 10,648.03, followed by banks up 3.72 per cent at 10,217.2 Realty index gained 3.54 per cent to 1,626.74 and consumer durables, 2.58 per cent to 5,789.62. Keywords: sensex, BSE, Nifty
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01-Dec-2011 11:06 AM
The Hindu : Business / Markets : Sensex up 363 points on hopes of easing...
http://www.thehindu.com/business/markets/article2681135.ece?homepage...
Business Markets
Sensex up 363 points on hopes of easing Eurozone debt crisis
PTI
PTI A broker reacts as the Sensex surges, at the BSE building in Mumbai. File photo
The Bombay Stock Exchange benchmark Sensex today surged 363 points, third day of gains in a row, on steady inflow of foreign funds on hopes of a solution to euro zone debt crisis. The 30-BSE benchmark, which gained over 475 points in the last two sessions, spurted 363.38 points, or 2.20 p cent, to 16,846.83, after opening lower at 16,428.66. The broad-based National Stock Exchange index Nifty surged 113.30 points, or 2.29 per cent to cross the 5k ma 5,050.15. Domestically, trading sentiment remained firm on hopes that RBI will halt rate hike at this months monetary p review as food inflation - which fans overall inflation - fell sharply to 8 per cent for the week ended November 1 from 9.01 per cent in the previous week. Globally, the market trend was firm in the Asian region and European markets opened higher amid hopes that solution would emerge on euro zone debt crisis at a key European summit next week. All the 30-BSE index stocks, except Hero MotoCorp, ended with gains. With the general firming trend, all the sectoral indices led by Banks and Power remained in the positive zone, gaining up to 3.26 per cent. The uptrend was supported by RIL, Infosys, ICICI Bank, SBI, Tata Power, Tata Steel, Maruti Suzuki, Tata Moto and DLF Ltd. Keywords: sensex, markets, BSE
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02-Dec-2011 8:18 AM
Stock market closes out its best week since 2009 - Yahoo! News
http://news.yahoo.com/stock-market-closes-best-week-since-2009-21581...
By FRANCESCA LEVY and MATTHEW CRAFT | AP 2 hrs 48 mins ago
NEW YORK (AP) An early rally fizzled on the stock market Friday but still left the Standard & Poor's 500 index up 7.4 percent for the week, its biggest gain since March 2009. A surprise drop in the U.S. unemployment rate sent stocks higher in early trading, but the gains faded during the afternoon. The Dow Jones industrial average dropped 0.61 of a point to close at 12,019.42. The Dow ended the week up 7 percent, the largest weekly gain since July 2009. Bank stocks rose sharply, continuing a weeklong rally. JPMorgan Chase & Co. jumped 6.1 percent, the most among the 30 stocks in the Dow average. Morgan Stanley leapt 6.9 percent, the second-biggest gain of any stock in the S&P 500 index. European stock indexes and the euro rose after German Chancellor Angela Merkel made a speech pushing for tighter rules on government spending. Merkel said the 17 countries that use the euro must quickly restore market confidence by making financial controls stricter. Bond yields for Spain and Italy fell, a sign that investors are becoming more confident in the ability of those countries to pay their debt. France's CAC-40 and Britain's FT-SE each rose 1.1 percent. Markets could be in for more volatility next week as European leaders prepare for a summit to propose new measures for containing the crisis. The Labor Department reported before the market opened that the unemployment rate fell to 8.6 percent last month, the lowest level in 2 years.
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Economists had expected the rate to stay at 9 percent. But a key reason the unemployment rate fell so much was that more than 300,000 people gave up looking for work and were no longer counted as unemployed. The Nasdaq composite index inched up 0.73 to 2,626.93. The Standard & Poor's 500 index fell 0.31 of a point to 1,244.28. The S&P surged 7.4 percent over the week, the most since March 2009. Decisive steps by world leaders to right Europe's teetering economy sent stocks soaring on Wednesday. The Dow jumped 490 points, its biggest gain since March 2009 and its seventh-largest one-day point gain in history. The weekly point gain of 787 in the Dow was the second-biggest in its history, following a 946-point gain in October 2008. "This market has been gripped with fear for a long time," said Peter Cardillo, chief market economist at Rockwell Global Capital. "And I think some of these fear factors are beginning to dissipate." This week's strong stock performance is partially a reflection of the market's increased volatility since August, when concerns that Europe's debt was spinning out of control made dramatic stock price swings the norm. On Monday the S&P 500 broke a 7-day slide that had taken the index down 7.9 percent. The improvements in the U.S. job market are "another illustration that the US economy is, for now at least, shrugging off the global economic downturn and fears about the collapse of the euro-zone," Capital Economics Chief U.S. Economist Paul Ashworth said in a note to clients. Merkel and French President Nicolas Sarkozy will meet Monday to discuss changes to European Union treaties. The talks will culminate in a Dec. 9 summit of EU leaders, where the proposals are expected to be debated and detailed. Analysts say stricter controls on spending could encourage the European Central Bank to offer more short-term help for governments struggling with their debts. If the European Central Bank takes a larger role in buying government debt, "it
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will certainly be a relief to markets," Cardillo said, "and maybe even mean Europe avoids falling into a deep recession. Not that it's going to cure all the problems of Europe." In corporate news: Western Digital Corp. soared 7.5 percent, the most in the S&P. The data storage provider raised its revenue estimate for the current quarter and said that recovery efforts at its facility in Thailand following massive flooding there were proceeding faster than had been expected. Big Lots Inc. slumped 8.7 percent, after the retailer reported a 76 percent plunge in income because of lower margins and a loss related to a newly acquired Canadian business. The company buys overstocked items including food and housewares and sells them at a discount. H&R Block Inc. fell 6.4 percent. The country's largest tax-preparation company reported a wider quarterly loss late Thursday. H&R Block also said there was a jump in claims tied to bad loans made by its former subprime mortgage unit.
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Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast rewritten or redistributed. Copyright 2011 Yahoo! Inc. All rights reserved. | Yahoo! News Network | /
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02-Dec-2011 8:31 PM
Wall Street Rockets Higher in Best Week Since '09 | Fox Business
http://www.foxbusiness.com/markets/2011/12/02/wall-street-rockets-high...
FOLLOW FOX BUSINESS foxbusiness Written By Adam Samson Published December 02, 2011 FOXBusiness Like 68803 likes. Sign Up to what your friends like.
MORE STORIES Seven Ways Tweak Your Retirement Plan for 201 Geithner to Push Euro Leaders on 'Financial Firewall' Would You Watch an Ad Instead of Paying an A Fee? (Daily Print Email Share Comments Like 46 Share 6 The Dow Jones Industrial Average fell 0.61 point, or 0.01%, to 12,019, the S&P 500 slipped 0.3 point, or 0.02%, to 1,244 and the Nasdaq Composite gained 0.73 point, or 0.03%, to 2,627. Action was fairly subdued on the day, with the major market averages making only small moves. The S&P 500 leaped 7.4% on the week, its best performance since March 13, 2009, which is considered to be the beginning of the current bull market. The broad-market index has nearly doubled since hitting its bear-market low of 666.79 on March 6, 2009, but is still down by 1.1% for the year. The Dow tacked on 788 points, or 7%, the second-biggest weekly point gain in the history of the blue-chip index, and the best percentage performance since July 2009. The financial sector posted the best performance on Friday, with big-name investment banks like Morgan Stanley (MS: 15.52, +1.01, +6.96%) and Goldman Sachs (GS: 97.25, +2.82, +2.99%) leaping higher. Indeed, JPMorgan Chase (JPM: U.S. Studen Take Note: China Axes College Maj That Don't P (Daily Finance) IMF Acting Behind the Scenes to S Euro FOX Business: The Power to Prosper Stocks surged more than 7% this week, Wall Street's best performance since 2009, as traders grew hopeful that global policymakers are taking action to tackle Europe's two-year-old debt crisis. Today's Markets Finance) Stocks Wav But Poised Post Best W in Years Apple Gets 'Grand' Dea From MTA
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RELATED STOCKS MS MORGAN STANL... HPQ HEWLETTPACK... BAC BANK OF AMER... XLV SELECT SECTO... GS 15.52 +1.01 27.68 -0.54 5.64 +0.11 33.51 -0.42 97.25
32.33, +1.87, +6.14%) performed the best out of all of the Dow components by a wide margin. Hewlett-Packard (HPQ: 27.68, -0.54, -1.91%) and Johnson & Johnson (JNJ: 63.47, -0.98, -1.52%) by contrast, were the worst-performing blue chips. On a broader level, the health care sector struggled the most, with the Health Care Select Sector SPDR (XLV: 33.51, -0.42, -1.24%), an exchange-traded fund that tracks many healthcare names, falling by more than 1%. U.S. Treasury yields made relatively modest moves on Friday. The benchmark 10-year note yields 2.035% from 2.003%. Jobs Report: A Mixed Bag The Labor Department reported nonfarm payrolls rose by 120,000 in November, slightly less than the 122,000 economists had expected. The unemployment rate unexpectedly fell to 8.6% from 9%, hitting its lowest level since March 2009. The private sector tacked on 140,000 jobs, while the government shed 20,000 in a trend that has been seen in recent reports. The unemployment rate is calculated by comparing the number of unemployed to those individuals in the workforce. In November, 315,000 individuals left the workforce, which was a factor in pushing the unemployment rate lower. More Progress on the European Front French President Nicolas Sarkozy after the market closed on Thursday proposed tighter fiscal integration for euro zone countries, and for the creation of a European Monetary Fund, which would be able to aid ailing countries preemptively. The proposed body would be able to make decisions based on a majority vote instead of a unanimous one, which would make the process of providing rescue aid much quicker. This move comes ahead of a summit next Friday in which market participants hope leaders will be able to reach a comprehensive solution on tackling the debt crisis. The new head of the European Central Bank, Mario Draghi, also hinted on Thursday that the central bank may launch an action in European debt markets in exchange for countries taking stronger steps on reining in sovereign debt. However, it is important to note that Draghi came short of actually proposing an explicit measures. The ECB is also mulling making a $270 billion loan through the
THE GOLDMAN ... +2.82 EXC EXELON CORP.... JNJ 43.33 -0.72 63.47
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International Monetary Fund to aid European countries in need, according to a report by Bloomberg News. Officials at the ECB did not immediately respond to requests for comment on the matter. European blue chips jumped 1.2%, while the euro sunk 0.42% to $1.341. Energy markets were higher. The benchmark crude oil contract traded in New York gained 76 cents, or 0.76%, to $100.96 a barrel. Wholesale RBOB gasoline jumped 6 cents, or 2.3%, to $2.62 a gallon.
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In metals, gold gained $11.50, or 0.66%, to $1,751 a troy ounce. Foreign Markets European blue chips jumped 1.2%, the English FTSE 100 rallied 1.2% to 5,552 and the German DAX climbed 0.74% to 6,0881. In Asia, the Japanese Nikkei 225 edged higher by 0.54% to 8,644 and the Chinese Hang Seng rose 0.2% to 19,040.
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Markets End Solidly Higher Despite EuroRatings Jitters

Written By Adam Samson Published December 05, 2011 FOXBusiness
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FOX Business: The Power to Prosper The markets ended solidly to the upside, although well off of session highs, as traders grappled with media reports that Standard & Poor's warned several euro zone countries that they might get downgraded in the next three months. Today's Markets The Dow Jones Industrial Average rose 78.4 points, or 0.65%, to 12,098, the S&P 500 gained 12.8 points, or 1%, to 1,257 and the Nasdaq Composite jumped 28.4 points, or 1.1%, to 2,656. Financial shares performed the best on the day, with big banks such as JPMorgan Chase (JPM: 33.51, +1.18, +3.65%) and large investment banks like Morgan Stanley (MS: 16.57, +1.05, +6.77%) zooming higher. Energy and material shares, such as Schlumberger (SLB: 77.15, +2.14, +2.85%) and Freeport McMoran Copper & Gold (FCX: 40.23, +0.93, +2.37%), posted solid gains a swell. In contrast, healthcare shares like Johnson & Johnson (JNJ: 63.36, 0.11, -0.17%) and consumer staples like Kraft Foods (KFT: 36.51, +0.01, +0.03%) and Wal-Mart (WMT: 58.34, +0.25, +0.43%) struggled. After trading lower for most of the day, bond prices made a comeback, pushing yields lower. The benchmark 10-year note yields 2.035% from 2.037%.
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With the docket of U.S. economic data fairly shallow on Monday, traders paid close attention to news from Europe, where leaders are racing to save the euro. S&P plans on putting all 17 members of the euro zone currency bloc on "creditwatch negative," according to media reports citing unnamed sources. That would imply there is a 50/50 chance the ratings company will downgrade the countries' sovereign debt rating in the next 90 days. Included in the list are countries that presently hold a top-notch rating, including Germany and France. The move may come shortly after the closing bell on Monday, the reports said. An S&P spokesman told FOX Business the company has no comment on the matter. The report spooked market participants to some extent, pulling Wall Street well off of its highs of the session. Indeed, the Dow, which had been up as much as 167 points, closed only 78 points to the upside. Earlier in the day, German Chancellor Angela Merkel and French President Nicholas Sarkozy met in Paris ahead of a key summit later in the week. The leaders of Europe's two biggest economies said they would like to create a treaty that forces countries to keep their fiscal houses or face sanctions if they fail. The heads of state also said they would prefer all of the European Union countries to agree to the measures, but would accept agreement by just countries in the smaller euro zone. Investors are expecting European leaders to "come out with big guns blazing," Louise Cooper, a market analyst with BGC Partners, said in an interview with FOX Business, adding that they expect a "big" announcement following summit. The hope is that if European officials create a system to make sure countries are keeping their debt inline, it will give the European Central Bank the ammunition it needs to launch a large bond-buying program to ease yields on embattled euro-zone sovereign debt. The European Central Bank is the only institution that has the power to create euros, and is widely seen as a crucial player in tackling the crisis. The problem is the ECB doesn't want to increase the likelihood of repeating the crisis by bailing the system out without consequences for highly-indebted countries. To that end, Italy's new government unveiled a roughly $40 billion austerity program on Monday that includes spending cuts, tax increases and reforms to the country's costly pension system. Italy is Europe's third-biggest economy, and has an enormous public debt burden. The specter that it may need a rescue like other heavily-indebted countries spooked the markets several weeks ago, and forced the ouster of its old government. The country's 10-year bonds yield 6.39% presently, or trade at a 4.21 percentage-point premium to Europe's safe-haven German bund. That represents a considerable easing from just a week ago when yields topped the closely-watched 7% mark. European blue chips jumped 1.2%, while the euro fell 0.26% to $1.3449, turning around on the reports regarding euro zone debt ratings. The markets posted a blockbuster performance last week: the broad
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S&P 500 surged 7.4%, while the blue chips tacked on some 788 points. On the U.S. front, data released on Monday showed factory orders fell by 0.4% in October from the month prior, slightly more than the 0.3% fall economists' anticipated. Excluding the transportation component, orders were up 0.2% on the month. Meanwhile, a separate report showed the services sector expanded at a slower pace than expected last month. The Institute for Supply Management's gauge of the non-manufacturing sector fell slightly to 52 from 52.9 the month prior. Economists has forecast a reading of 53.5. Readings above the 50 mark point to expansion, while those below indicate contraction. Energy markets were mixed. The benchmark crude oil contract traded in New York gained 12 cents, or 0.14%, to $100.83 a barrel. Wholesale RBOB gasoline fell 0.1% to $2.61 a gallon. Foreign Markets European blue chips jumped 1.2%, the English FTSE 100 gained 0.28% to 5,568 and the German DAX rose 0.68% to 6,106. In Asia, the Japanese Nikkei 225 rose 0.6% to 8,696 and the Chinese Hang Seng gained 0.73% to 19,180.
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Wall Street Advances, Snaps Three-Day Losing Streak | Fox Business
http://www.foxbusiness.com/markets/2011/12/15/wall-street-advances-s...
FOLLOW FOX BUSINESS Follow @foxbusiness 54.1K Written By Adam Samson Published December 15, 2011 FOXBusiness Like 69778 likes. Sign Up to what your friends like.
BUSINESS TRAVEL Top Three Gifts for Travelers Six Graceful Strategies for Dealing With an Annoying Seatmate How Business Traveler can Prevent Identity Th Identity-theft preventio tips for travelers How Can Airport Secur be Improved? Should airport security privatized? REUTERS MORE STORIES Print Email Share Comments Like 1 Tweet 3 Share RELATED STOCKS MRK 36.36 1 FOX Business: The Power to Prosper Newspapers
Wall Street put an end to its three-day losing streak, rising modestly as traders cheered a mostly positive round of data on the U.S. economy, but remained cautious over Europe's debt Going...Going...Gone! (Daily Fina crisis. 10 Most Outrageous Today's Markets Credit Card Charges (Da The Dow Jones Industrial Average gained 45.3 points, or Finance) 0.38%, to 11,869, the S&P 500 climbed 3.9 points, or 0.32%, to Preparing Y 1,216 and the Nasdaq Composite rose 1.7 points, or 0.07%, to Portfolio fo 2,541. New Year Stocks had a relatively muted session on the day as compared with the intense volatility felt earlier this week. Of the Dow components, health-based names like Merck (MRK: 36.36, +0.80, +2.25%), Pfizer (PFE: 21.14, +0.28, +1.34%) and Johnson & Johnson (JNJ: 64.00, +0.82, +1.30%) performed the strongest. Alcoa (AA: 8.78, -0.16, -1.79%), the aluminum giant,struggled the most by a wide margin. Data Deluge New claims for unemployment benefits fell to 366,000 last week -- the lowest level since May 2008 -- from 385,000 the week before. Economists had expected claims to rise to 390,000.
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A report from the New York Federal Reserve on manufacturing in the New York region also easily topped expectations. The gauge hit 9.53 in December from an anemic 0.61 in November, and better than the reading of 3 economists had anticipated. The Philadelphia Federal Reserves manufacturing gauge climbed to 10.3 in December from 3.6 in November, besting forecasts of a reading of 5. Prices at the producer level edged 0.3% higher in November from the month prior, a slightly quicker pace than the 0.2% economists had anticipated. Excluding the food and energy component, prices rose 0.1%, compared to estimates of a 0.2% increase. On the negative side, industrial production fell 0.2% in November from the first time in seven months, missing estimates of a gain of 0.2%. Upbeat News from Europe News on the European front, which has been a major drive of market sentiment, was seen as upbeat as well. Spain had a successful bond auction in which it sold 6.028 billion euro worth of bonds maturing in 2016, 2020 and 2021. The target of the auction was a range of 2.5 billion euro to 3.5 billion, meaning there was demand for the countrys sovereign debt. The yields the country paid remained elevated, although were less than in recent offerings of similar notes. The eurozones private sector contracted at a slower rate in December than in the month prior. Markits PMI gauge rose to 47.9 from 47 the month prior, topping expectations of a fall to 46.5. Readings below 50 point to contraction, while those above indicate expansion. The London-based consultancy said Germany and France, the eurozones biggest economies, led the advance. Still, traders remained guarded on the Europe situation, with no clear resolution in sight. Indeed, closely-monitored Italian bond yields, sit just above 7%. The euro gained 0.25% to $1.3011, while European blue chips climbed 0.86%. Energy markets were down following the worst selloff in months. Oil fell $1.08, or 1.1%, to $93.87 a barrel. Wholesale RBOB gasoline dipped 0.64% to $2.4877 a gallon. Gold, which was also pummeled on Wednesday, slid $9.70, or 0.61%, to $1,577 a troy ounce.
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Foreign Markets European blue chips climbed 0.86%, the English FTSE 100 gained 0.63% to 5,401 and the German DAX rallied 0.98% to 5,731. In Asia, the Japanese Nikkei 225 slid 1.7% to 8,377 and the Chinese Hang Seng sold off by 1.8% to 18,027. RECOMMENDED STORIES Navy Paying $15 a Gallon for Fuel Fox Business Video - Fox Business Weekly U.S. Jobless Claims Rise 5,000 To 417,000 Stocks Bounce Higher as Traders Await Fed Statement Wall Street Slammed by Plunging Commodity Prices Stocks Solidly Higher as Traders Cheer Upbeat Data SHARE THIS ARTICLE 1 Like 3 Twee 0 NEWSLETTER SIGNUP Sign up for free e-mail news alerts from FoxNews.com and FoxBusiness.com. Enter Your Email Address ALSO ON THE WEB [what's this]
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FOX Business: The Power to Prosper The markets charged higher on Tuesday after a round of encouraging economic reports on the American and European fronts, combined with moderating eurozone debt yields, instilled a sense of confidence on Wall Street. Today's Markets The Dow Jones Industrial Average jumped 337 points, or 2.9%, to 12,104, the S&P 500 climbed 36 points, or 3%, to 1,241 and the Nasdaq Composite surged 80.6 points, or 3.2%, to 2,604.
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Financial and commodity-related companies led the charge higher on Tuesday. Caterpillar (CAT: 91.73, +4.48, +5.13%), JPMorgan Chase (JPM: 32.21, +1.51, +4.92%) and Disney (DIS: 36.17, +1.42, +4.09%) were among the best-performing blue chips. In a sign of the breadth of the rally, all but 7 S&P 500 components ended in the green, while every blue chip closed higher. Volume in advancing shares outnumbered declining issues on the New York Stock Exchange by a margin of 42-to-one. However, the pace of trading was fairly average on the day: 4 billion shares traded hands on the NYSE, slightly above the December average of 3.97 billion, but short of the full-year mean of 4.31 billion. The CBOE's VIX tumbled 6.8% to 23.22. Wall Street's fear gauge has now closed below 25 for the third-straight session, which has occurred only one time in the past four months, according to an analysis by Dow
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General Mills (GIS: 39.27, -0.32, -0.81%) posted adjusted secondquarter earnings of 76 cents a share, topping expectations of 79 cents. Revenue was up 14% to $4.62 billion. Jefferies (JEF: 14.50, +2.70, +22.88%) said it earned $48.4 million, or 21 cents a share, last quarter, compared with a profit of $63.7 million, or 31 cents a share, a year earlier. Excluding one-time items, it earned 17 cents a share, beating the Streets view of 14 cents. Foreign Markets European blue chips soared 2.7%, the English FTSE 100 jumped 1% to 5,420 and the German DAX rallied 3.1% to 5,847. In Asia, the Japanese Nikkei 225 climbed 0.49% to 8,336 and the Chinese Hang Seng ticked 0.06% higher to 18,080.
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By Ben Rooney @CNNMoneyMarkets December 20, 2011: 4:38 PM ET 178 comments Fed's new financial buffers for banks Dow jumps 330 points Fortune 500: Worst stocks of 2011 RedNek Wine Glass makes $5 million in sales Dumbest Moments in Business
Markets
US Indexes Index Dow Click for more market data. Recommend 118 recommendations. Sign Up to see what your friends recommend. Nasdaq S&P 500 Treasuries symbol Last 12,103.58 2,603.73 1,241.30 1.92 Market Movers Change 337.32 80.59 35.95 0.11 % Change 2.87% 3.19% 2.98% 6.18%
NEW YORK (CNNMoney) -- U.S. stocks surged Tuesday as concerns about the European debt crisis eased and investors welcomed signs of strength in the U.S. housing market. The Dow Jones industrial average ( INDU) rose 337 points, or 2.9%, to end at 12,103. The S&P 500 ( SPX) jumped 36 points, or 3%, to 1,241. The Nasdaq ( COMP) gained 80 points, or 3.2%, to 2,604. Investors focused on positive headlines out of Europe, including an upbeat reading on German consumer confidence and a surprisingly strong auction of Spanish debt. Traders were also looking ahead to the results of a key lending program by the European Central Bank on Wednesday. The ECB announced a series of "non-standard" measures earlier this month designed to boost liquidity for European banks struggling to secure funding in the wholesale market. "The market is coming to the realization that this is an important step to prevent a credit crisis and bring down yields" on government bonds, said Peter Cardillo, chief market economist at Rockwell Global Capital.
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20-Dec-2011 6:18 PM
Fortune 500: Worst stocks of 2011 Analysts expect banks to borrow up to 300 billion under the first of the ECB's three-year refinancing operations. On Tuesday, banking stocks were among the best performers, after the sector dragged down the broader market Monday. Bank of America ( BAC, Fortune 500) was up 4% to $5.19 a share, one day after the stock fell below $5 per share. Citigroup ( C, Fortune 500), Goldman Sachs ( GS, Fortune 500), JPMorgan ( JPM , Fortune 500), Morgan Stanley ( MS, Fortune 500) and Wells Fargo ( WFC, Fortune 500) all moved higher. The gains came despite the release of a highly anticipated set of proposals from the Federal Reserve to strengthen regulation and oversight of the banking sector. Meanwhile, stocks were also supported by a betterthan-expected report on the U.S. housing market. The number of new homes breaking ground rose to an annual rate of 685,000 in November, with requests for building permits rising 1.8% to 681,000 compared to last year. Analysts had expected housing starts to hit 627,000, and building permits to come in at 633,000 for November, according to consensus estimates from Briefing.com. Trading volumes are expected to remain light as many investors have already closed their books for the year. That could make for a choppy week as low trading volumes can exaggerate swings in the market. "We expect today's lift to be short-lived and for markets to remain relatively quiet into the holidays," said Camilla Sutton, chief currency strategist at Scotia Capital. Companies: After the closing bell, software giant Oracle ( ORCL, Fortune 500) reported earnings and sales that missed analysts' expectations. The stock was down 7% in extended hours. Shares of Jefferies ( JEF) rallied as much as 22% Tuesday after the company released fourth quarter profits that beat analysts' expectations. Revenues were lighter than expected, though. Apple ( AAPL, Fortune 500) rose after the U.S. International Trade commission ruled Monday that the software in some of HTC's Android smartphones violated one provision of an Apple patent, and that those phones would no longer be allowed into the U.S. Dumbest Moments in Business
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Dumbest moments in business The biggest missteps of 2011, from Congress to Corporate America. Mor Worst stocks of 2011 This neglected bouquet o Fortune 500 companies stood out for particularly poor performance. More College presidents' pay tuition Some private colleges ar paying their presidents millions of dollars, at the same time they're hiking tuition for students. More How to build a $2 millio tractor Caterpillar workers hand-build the 229,000-pound D11 tract in Peoria, Illinois. Play AT&T kills $39 billion T-Mobile bid AT&T ends its deal with T-Mobile after the Department of Justice su on antitrust grounds and Federal Communications Commission sought to block it. More
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20-Dec-2011 6:18 PM
Google ( GOOG, Fortune 500) shares rose after the company said it would acquire a portfolio of solar photovoltaic facilities with KKR ( KKR, Fortune 500). The deal brings Google's total investment in renewable energy projects to more than $915 million. Food producer General Mills ( GIS, Fortune 500) reported quarterly earnings of 76 cents per share, slightly missing estimates. Analysts surveyed by Thomson Reuters expected earnings of 79 cents per share. Carnival Corporation ( CCL) was under pressure after the cruise operator's quarterly results and outlook fell short of expectations. Late Monday, AT&T ( T, Fortune 500) announced it had abandoned its $39 billion bid for T-Mobile, a deal that would have created by far the nation's largest wireless company. Red Hat ( RHT) shares fell 9% after the maker of open source software reported quarterly results late Monday that missed analysts' estimates. World markets: European stocks closed higher. Britain's FTSE 100 ( UKX) rose 1%, while the DAX ( DAX) in Germany jumped 3.1% and France's CAC 40 ( CAC40) rose 2.7%. Asian markets ended mixed. The Shanghai Composite ( SHCOMP) lost 0.1%, while the Hang Seng ( HSI) in Hong Kong ticked up 0.1% and Japan's Nikkei ( N225) edged higher 0.5%. Currencies and commodities: The dollar fell against the euro, the British pound and the Japanese yen. Oil for January delivery rose $3.29 to end at $97.17 a barrel. Gold futures for February delivery rose $20.90 to settle at $1,617.60 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell, with the yield rising to 1.92% from late Monday. First Published: December 20, 2011: 9:49 AM ET Share Email
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The Hindu : Business / Markets : Sensex surges by 255 points on firm glob...
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Sensex surges by 255 points on firm global cues
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The BSE benchmark Sensex was up by 255 points in early trade on Wednesday on fresh buying support in bank metal, consumer durables and capital goods stocks amid a firming trend in global markets. The 30-share Sensex resumed higher at 15,487.75 and moved in a range between 15,495.18 and 15,378.37 befor quoting at 15,429.98 at 10.30 a.m., a net gain of 254.90 points, or 1.68 per cent, from its previous close. The NSEs 50-share Nifty index was also by 61.65 points, or 1.36 per cent, at 4,605.85 at 10.30 a.m. The market breadth was strong, with the most-weighted firm on the indices, Reliance Industries (RIL), gaining 2 per cent in early trade. Banking major ICICI Bank and vehicle manufacturer Tata Motors also surged in early trade. The major gainers in early trade were Bharti Airtel (up 3.86 per cent), ICICI Bank (3.72 per cent), Tata Motors per cent), BHEL (2.58 per cent) and HDFC Bank (2.56 per cent). Meanwhile, Asian stock markets surged in early trade today on the back of a rally in export and resources firms renewed optimism about the health of the global economy boosted risk appetite. The key benchmark indices in China, Singapore, Hong Kong, Japan, Taiwan and South Korea were up by betwe 0.24 per cent and 4.20 per cent. Keywords: Sensex, BSE, Nifty, NSE
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FOX Business: The Power to Prosper Stocks drifted higher, led by financial shares, after encouraging jobless claims and consumer sentiment data offset a dreary third-quarter economic growth report. Today's Markets The Dow Jones Industrial Average climbed 61.9 points, or 0.51%, to 12,170, the S&P 500 gained 10.3 points, or 0.83%, to 1,254 and the Nasdaq Composite rose 21.5 points, or 0.83%, to 2,599. Financials performed the best on the day by a wide margin. JPMorgan Chase (JPM: 33.45, +1.13, +3.50%) and Bank of America (BAC: 5.47, +0.24, +4.59%), the two biggest lenders in America, jumped the most out of the blue chips. Citigroup (C: 27.65, +1.55, +5.94%) leaped 4.9%, and investment banking giants Goldman Sachs (GS: 94.42, +2.42, +2.63%) and Morgan Stanley (GS: 94.42, +2.42, +2.63%) were strongly to the upside as well. The technology sector rebounded somewhat after getting slammed on Wednesday, while consumer staples, such as Target (TGT: 51.27, 0.45, -0.87%) lagged behind the broader markets. Encouraging U.S. Economic Data Weekly jobless claims fell 4,000 to 364,000 last week, better than the 375,000 economists expected. Claims are now at the lowest level since mid-April 2008. The labor market has been slow to recover from the recession, but has shown signs of improvement. "It appears the recovery in the labor market is gaining further traction," Troy Davig, an economist at Barclays Capital, wrote in a note to clients. Davig notes the claims reports tend to be volatile, but the recent downward movement appears to be part of a trend and not just weekly volatility. In fact, the unemployment rate fell beneath the 9% mark in November, and first-time claims for jobless benefits are at the lowest level since 2008. The final December reading of the University of Michigan/Reuters consumer sentiment index topped analysts' expectations as well. The gauge hit 69.9 in late December from a prior estimate of 67.7, and economists' forecasts of 68. The consumer sector is a key portion of the economy, and therefore consumers often play an outsized role in broader growth figures. The economy expanded at an annualized pace of 1.8% in the third quarter, according to a report from the Commerce Department, slightly shy of a previous estimate of 2%, and missing economists' expectations. Economists say the downward revision was largely due to a significant change to consumer service spending. The report is a lagging indicator, however, and economists are already looking to see how headwinds from Europe's debt crisis began affecting the economy toward the end of the year.

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"Despite the downward revision ... recent U.S. data indicate that fourth quarter growth has accelerated," Nariman Behravesh, chief economist at IHS Global Insight wrote in a reserch note. "However, the stronger growth momentum is unlikely to be sustained through the first half of next year." In the foreign exchange market, the euro ticked 0.03% higher to $1.305, while the greenback fell 0.02% against a basket of six trading partners. Commodities markets got a modest boost from the weaker U.S. dollar. The benchmark New York crude oil contract rose 87 cents, or 0.87%, to $99.53 a barrel. Wholesale RBOB gasoline climbed 0.76% to $2.6398 a gallon. Gold dipped $3.00, or 0.19%, to $1,611 a troy ounce. Foreign Markets European blue chips jumped 1.3%, the English FTSE 100 rallied 1.3% to 5,457 and the German DAX gained 1.1% to 5,852. In Asia, the Japanese Nikkei 225 fell 0.77% to 8,395 and the Chinese Hang Seng dropped 0.21% to 5,867.
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Friday after quick pre-approval in the Senate following weeks of heated debate and political posturing. The bill was signed into law later in the day by President Barack Obama. The move was important because many American families would have immediately seen their after-tax incomes shrink if not for the passage, which could have slowed already anemic economic growth, analysts have said. There was also a slew of economic reports on Friday morning. Orders for long-lasting goods jumped 3.8% in November from the month prior, zipping past estimates of a gain of 2%. The major driver of the gain was a 73.3% surge in civilian aircraft orders, analysts said. Indeed, excluding the transportation component, orders were up 0.3%, slightly shy of the 0.5% gain that was anticipated. Meanwhile, consumer spending ticked up 0.1% in November, less than the 0.3% economists' had been expecting. Personal income edged 0.1% higher, also missing estimates of a gain of 0.2%. New sales of single-family homes increased 1.6% to an annualized 315,000-unit rate in November compared to a 1.3% rise in October. The median sale price dropped 2.5% to $214,100 from the same month in 2010. The market for new homes has been sluggish as the supply of houses on the market has remained high and credit conditions have remained tight. Despite a disappointing reading on third-quarter economic growth, the markets rallied behind data showing weekly claims for unemployment benefits are at the lowest level since April 2008 in the prior session. Trading volume was low this week as compared to other weeks this year as fewer market participants have been present as a result of the holidays. Several European markets close early on Friday, and the Tokyo Stock Exchange is closed for the entire day for the Emperor's Birthday holiday. In currencies, the euro fell 0.08% to $1.3039, while the U.S. dollar rose 0.11% against a basket of six world currencies. Commodities were mixed in light trade. The benchmark crude oil contract traded in New York gained 15 cents, or 0.15%, to $99.68 a barrel. Wholesale RBOB gasoline jumped 1.8% to $2.6872 a gallon. Gold ticked lower by $4.60, or 0.29%, to $1,606 a troy ounce. Foreign Markets European blue chips climbed 0.45%, the English FTSE 100 rallied 1% to 5,513 and the German DAX rose 0.13% to 5,860. In Asia, the Chinese Hang Seng jumped 1.4% to 18,629, while Japanese markets were closed for a holiday.
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Sensex nears 16k-level with 232-point relief rally
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Igniting hopes of some year-end relief, the stock market today rallied ahead and the barometer Sensex was seen inching towards regaining 16,000-level with a 232-point surge with help from bluechips like Infosys and RIL. The 30-share benchmark index closed 232.05 points or 1.47 per cent higher higher at 15,970.75 points its highest closing in about two weeks. While most of the overseas markets were closed on account of yearend holidays, positive cues from Japan an few other markets helped boost the sentiments in domestic shares. Traders were also seen indulging in some bargainbuying in select bluechip stocks, such as Infosys, Reliance Industries (RIL), Bharti Airtel, TCS, HDFC Bank and L&T, as also a few midcap stocks. Experts said that the market trends have historically been positive in the last month of the year, but a slew of negative newsflow from India and abroad has so far averted any yearend rally on the bourses. So far in December, the Sensex has registered a total gain of only 1.75 per cent. But, the Sensex managed to clos its highest level since December 13, when it had last closed above 16,000 level. Todays upsurge, coming after a rally of over 600 points in two consecutive trading sessions last week, was larg seen as a relief rally for the bruised investors, who have suffered huge losses so far in 2011. Despite todays positive move, the Sensex is still trading with a fall of over 20 per cent so far this year and the to investor wealth, measured in terms of cumulative market value of all listed stocks, has dipped by about Rs 20 l crore. In todays trade, the market wealth grew by about Rs 60,000 crore and stood at Rs 54,73,886.85 crore at the en trading session. Keywords: sensex, stocks close, BSE
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average for the year. Housing Data Top Expectations
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Show More The number of Americans signing contracts to buy existing single-family homes rose 7.3% in November from October to the highest level in More Stories BUSINESS SOLUTIONS more than a year and a half, according to the National Association of Realtors. The housing market improved in every region of the country, Cloud la Carte: 6 Ways to Order Off the Cloud the report said. From last year, pending sales are up 5.9%.
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"Lower mortgage rates may be translating into stronger demand for housing," Michael Gapen, an economist at Barclays Capital, wrote in a note to clients. "The strong rebound may also hint at coming strength in existing home sales." Pending home sales are seen as a forward-looking indicator, meaning these data may be a sign of some reprieve in the beleaguered sector. Weekly jobless claims rose to 381,000 last week from a revised 366,000 the week prior. Economists forecast a smaller rise to 375,000. The fourweek-moving average, however, fell to 375,000 from 380,750. That measure helps smooth out week-to-week volatility and indicates the trend is pointing to continued improvement in the labor market. Europe's sovereign debt crisis has still been a major concern among market participants. Italy held a successful short-term debt auction on Wednesday, in which demand was high and borrowing costs halved on certain issues. However, a longer-term offering on Thursday was not nearly as well received. The embattled country sold roughly $9 billion in long-term bonds, short of its target of $10.9 billion. It sold 10-year paper at an average yield of 6.98%, down considerably from the euro-era high of 7.56% it had to pay at its last auction in November, but still at a level that is seen by many analysts to be unsustainable. The benchmark 10-year yield in the secondary market ticked slightly lower to 7.13% from 7.17% before the auction, according to Reuters. However, the European Central Bank stepped in to buy small amounts of Italian debt shortly after the offering, generally seen as a bid to keep yields down, according to a report by Reuters, citing unidentified traders. The euro fell to the lowest level since September 2010 on the news before rebounding on Thursday afternoon. The greenback fell 0.02% against a basket of six world currencies. European stock markets climbed higher in afternoon trade. In metals, gold sunk $23.20, or 1.5%, to $1,540.90 a troy ounce. Futures are off for the sixth-straight session, and are down 11.8% for the month. Energy prices rose slightly after selling off in the prior session. The benchmark crude oil contract traded in New York gained 29 cents, or 0.29%, to $99.65 a barrel. Wholesale RBOB gasoline jumped 1.1% to $2.68 a gallon. Investors bought U.S. debt on the day, pushing yields slightly lower. The benchmark 10-year Treasury fell 0.016 percentage points to 1.897% -the third-straight day of losses.
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Foreign Markets European blue chips rose 1.7%, the English FTSE 100 climbed 1.1% to 5,567 and the German DAX gained 1.3% to 5,849. In Asia, the Japanese Nikkei 225 fell 0.29% to 8,399 and the Chinese Hang Seng dipped 0.65% to 18,398.
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The Hindu : Business / Markets : Sensex opens New Year with 63 points ...
Business Markets
Sensex opens New Year with 63 points gain in thin trade
PTI
PTI Sensex moved between a gain of 96.90 points and a loss of 87.03 points during the session.
The Bombay Stock Exchange benchmark Sensex on Monday closed 63 up in the first session of 2012 on value b at lower levels in thin trade as major global markets remained close. Sensex, which had lost over 515 points in the previous four sessions, settled with a moderate rise of 63 points o per cent at 15,517.92, as heavyweights Reliance Industries and Infosys closed with gains. While RIL was up 2.03 cent, Infosys gained 1.44 per cent. The two carry about 20 per cent weight in the Index. Sensex moved between a gain of 96.90 points and a loss of 87.03 points during the session. The broad-based National Stock Exchange index Nifty, after moving between 4,645.95 and 4,588.05, settled wi small gain of 12.45 points, or 0.27 per cent at 4,636.75. Brokers said investors were not enthused with the government decision to allow qualified foreign investors (Q direct entry in the Indian equity markets. They added, however, that the investor were directionless as most of the major global stock markets remained for Christmas and New Year holidays. European stock markets were steady in the opening trade, with FTSE closed. Most key markets in Asia remaine close. Of the 30 scrips in the BSE Sensex, 19 gained and 11 declined. Among the sectoral indices consumer durables, oil and gas, IT, metals and capital goods were up, while FMC auto, power, realty and healthcare remained in the negative zone. Keywords: share markets, sensex, stock markets
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The Hindu : Business / Markets : Sensex opens New Year with 63 points ...
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The Hindu : Business / Markets : Sensex surges 421 points on fund inflows... http://www.thehindu.com/business/markets/article2771768.ece?homepage...
Business Markets
Sensex surges 421 points on fund inflows, firm global trend
PTI
Indian markets have commenced the New Year on a positive note amid the governments decision to allow foreign individuals invest in stocks, Photo: PTI
The Bombay Stock Exchange benchmark Sensex on Tuesday spurted over 421 points biggest gain in two wee on fresh inflows amid some positives, including RBIs plan to reverse tight monetary policy stance, and a firm g equities. Sensex, which had gained 63 points yesterday, surged another 421.44 points, or 2.72 per cent to 15,939.36 as tw heavyweights Reliance Industries and Infosys gained over two per cent each. While RIL shot up 2.37 per cent, Infosys gained 2.13 per cent. After losing 25 per cent last year due to high inflation, soaring interest rates and the weakening rupee, Indian markets have commenced the New Year on a positive note amid the governments decision to allow foreign individuals to invest in stocks, and RBI saying that it may reverse tight money policy stance. The NSE 50issue index Nifty gained 128.55, or 2.77 per cent to 4,765.30. Metals, capital goods and banks led the gains. A firm trend in Asian markets and higher opening in Europe further supported the uptrend on growth in the regions manufacturing sector. In the broader market, Network18 Media and TV18 Broadcast jumped 17.77 per cent and 18.25 per cent on repo that RIL plans to invest more than Rs 1,500 crore in TV18. The metals sector index gained 5.05 per cent at 9,825.01, followed by capital goods 4 per cent at 8,458.64. Banking index rose 4.35 per cent to 9,576.99 and realty index by 4.28 per cent to 1,428.90. Keywords: Bombay Stock Exchange, sensex
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Crude Leaps on Iran, China Data Crude oil prices zoomed higher as growing tensions between the U.S. and Iran spurred anxiety over potential supply disruptions and data showed Chinese economic activity increasing. Spokesman: Greece Reuters Will Have to Leave Eurozone if No Bailout Wall Street zipped higher on Tuesday after strong economic Deal Reached reports from around the world lifted sentiment ahead of a A Greek spokesman closely-watched report on the U.S. manufacturing sector. said Greece will have TONIGHT: FBN's Neil Cavuto Hosts Special Coverage of to leave the eurozone if it fails to clinch a deal the Iowa Caucuses at 8 p.m. ET on a second bailout with its international lenders. Caterpillar: China Construction Market to Grow at 'Fairly Significant' Rates TOP STORIES Total Strikes Shale Deal With Chesapeake Natural gas company Chesapeake Energy revealed on Tuesday it had raised $2.32 billion on by unloading a stake in its Ohio Utica Shale holdings to French oil group Total. Former Brookstone CEO to Become Sears' Merchandising Chief A week after announcing the closing of as many as 120 stores, Sears named former Brookstone chief executive Ron Boire to run its merchandising for both the Sears and Kmart brands. BP Asks Halliburton to Pay Costs Of '10 Oil Spill BP is asking Halliburton to pay all costs tied to the cleanup of the disastrous spring 2010 Gulf of Mexico oil spill. U.N. Official: Food Prices May Ease in 2012 The new director U.N.'s Food and Agriculture Organization said food prices may ease in 2012 due to a slowing global economy, though no drastic drop from high levels is expected. COLUMNS AND BLOGS Morning Outlook Stocks to Kick Off New Year in Strong Fashion The Willis Report You Win... Again!
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Wall Street Rings in 2012 With a Rally as Traders Cheer Economic Data
Written By Adam Samson Published January 03, 2012 FOXBusiness
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FOX Business: The Power to Prosper Market participants piled into risky asset classes on Tuesday after a round of strong economic data boosted sentiment on Wall Street. Today's Markets The Dow Jones Industrial Average rallied 180 points, or 1.5%, to 12397, the S&P 500 jumped 19.5 points, or 1.6%, to 1277 and the Nasdaq Composite gained 43.6 points, or 1.7%, to 2649. The rally was broad, with all but four of the 30 Dow components trading higher. Indeed, on a point basis, Tuesday represented the third-biggest gain the blue-chip average has ever made on the first day of trading of the year. Alcoa (AA: 9.23, +0.58, +6.71%), Bank of America (BAC: 5.80, +0.24, +4.32%), JPMorgan Chase (JPM: 34.98, +1.73, +5.20%) and Caterpillar (CAT: 93.98, +3.38, +3.73%) led the charge, posting substantial gains. BofA, the second-biggest U.S. bank by assets, was the worst-performing blue chip last year, crumbling more than 50%, by contrast. Eight blue chips touched multi-year highs on the day, according to data compiled by FOX Business. Among them, oil-giant Chevron (CVX: 110.37, +3.97, +3.73%) notched an all-time high of $110.99 a share before falling back 63 cents.
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Dow Drifts Higher, Led by Rallying Alcoa Shares | Fox Business
http://www.foxbusiness.com/markets/2012/01/09/dow-drifts-higher-led-b...
FOLLOW FOX BUSINESS Follow @foxbusiness Written By Adam Samson Published January 09, 2012 FOXBusiness Like 71102 likes. Sign Up to what your friends like.
MORE STORIES Money Guru Suze Orman Pushes Her Own Brand Plastic (Dail Finance) CES 2012 Preview: Fa Connected, Super-Skinn Devices (Da Finance) REUTERS Print Email Share Like 1 Tweet Share RELATED STOCKS BAC BANK OF AMER... MCD 6.27 +0.09 99.64 Earnings season unofficially starts after the closing bell on Monday, with Alcoa's (AA: 9.42, +0.26, +2.89%) report. The biggest U.S. aluminum maker said earlier in the day it will slash its global smelting capacity by 12%, potentially affecting up to 1,500 workers. The company's stock price climbed close to 3% on the day prior to the release, posting the best performance of the 30 Dow components. Caterpillar (BAC: 6.27, +0.09, +1.46%), the heavy machinery maker, and Bank of America (BAC: 6.27, +0.09, +1.46%) also performed solidly on the day. However, Microsoft (MSFT: 27.74, -0.36, -1.30%) and McDonald's (MCD: 99.64, -0.96, -0.95%) lagged behind, performing the worst out of the blue Today's Markets The Dow Jones Industrial Average rose 32.8 points, or 0.27%, to 12393, the S&P 500 gained 2.9 points, or 0.23%, to 1281 and the Nasdaq Composite climbed 2.9 points, or 0.23%, to 2677. The markets kicked off the second trading week of 2012 in positive territory, following last week's rally. Note to Gree Reach a Deb Swap Deal, Else Stocks Wob Ahead of Earnings FOX Business: The Power to Prosper The blue chips advanced on Monday, helped by jumping Alcoa shares as traders bid up the aluminum giant ahead of its earnings release after the closing bell. Goldman Se Massive Up Risks for Oi Prices Europe Lead the Way on Monday
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Dow Climbs to Highest Level Since July; BofA Soars

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FOX Business: The Power to Prosper The blue chips climbed on Tuesday to the highest level since July 26, led by Bank of America shares, which zoomed higher by close to 6%. Today's Markets The Dow Jones Industrial Average jumped 70 points, or 0.56%, to 12462, the S&P 500 gained 11.4 points, or 0.89%, to 1292 and the Nasdaq Composite gained 25.9 points, or 0.97%, to 2703. The broader S&P 500 also rose to its highest level since July, while the Nasdaq closed in the green for the fourth-straight session. BofA has had a solid year thus far after plunging more than 50% last year. America's second-largest bank by assets led the Dow higher on Tuesday, followed by machinery giant Caterpillar (CAT: 99.96, +2.86, +2.95%), United Technologies (UTX: 76.03, +1.93, +2.60%) and JPMorgan Chase (JPM: 36.05, +0.75, +2.12%), all of which were up more than 2% on the day. Banks performed well overall, with Goldman Sachs (GS: 98.33, +3.64, +3.84%) and Morgan Stanley (MS: 16.89, +0.69, +4.26%) rallying on the day as well. Meanwhile, Cisco (CSCO: 18.83, -0.14, -0.74%) and General Electric (GE: 18.72, -0.14, -0.74%) were the Dow's biggest laggards, each slipping by less than a percent.
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Alcoa (AA: 9.44, +0.02, +0.16%), also a blue chip, kicked off earnings season after the closing bell on Monday. The aluminum giant posted a quarterly loss of 3 cents per share, which came in-line with analysts' expectations, but its revenue of $6 billion topped forecasts of $5.7 billion. The company also said it expects demand for aluminum to increase by 7% this year. This helped boost mining stocks and expectations about corporate earnings in light of growing headwinds from Europe. Indeed, FreeportMcMoRan Copper & Gold (FCX: 40.60, +1.56, +4.00%), the world's biggest publicly traded copper company, charged 4% higher on the day.
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Market participants also cited a slew of news from overseas as having fueled Tuesday's rally. China's imports grew at a rate of 11.8% in December, much slower than the 18% pace economists' projected, and just slightly more than half of the 22.1% it hit in November. The data highlight increasing concerns that the world's second-biggest economy is slowing down. However, the particularly weak data stoked anticipation that Beijing may enact a more accommodative monetary policy to boost growth, which traders say could be a positive development for equities. In Europe, France's industrial production rose by 1.1%, zipping by estimates of a 0.2% fall. France is the continent's second-biggest economy and worries about its weakening economy have been partially to blame for speculation that it may lose its pristine 'AAA' credit rating. Separately, ratings company Fitch said it doesn't expect to downgrade the country this year barring a "strong worsening" of the situation in the euro zone, AFP quoted a spokesperson as saying. However, the situation in the euro zone remains fragile. German Chancellor Angela Merkel and French President Nicolas Sarkozy said on Monday Greece needs to reach a deal with private debt holders to cut its debt before the European Union and International Monetary Fund will pay the country's next aid tranche. Meanwhile, Italy's 10-year note recently yielded 7.17% -- a painfully-high level. The euro climbed 0.08% to $1.2776, while European blue chips soared 2.7%. The U.S. dollar fell 0.14% against a basket of six world currencies. Energy futures rose on the day, tracking strength in equity markets, a weaker dollar and continued worries about tensions between the U.S. and Iran. The benchmark crude oil contract traded in New York jumped 93 cents, or 0.92%, to $102.24 a barrel. Wholesale RBOB gasoline rose 0.5% to $2.773 a gallon. In metals, gold climbed $23.50, or 1.5%, to $1,631 a troy ounce. Traders sold U.S. The benchmark 10-year Treasury note recently yielded 1.979% from 1.975%. Foreign Markets European blue chips jumped 2.7%, the English FTSE 100 rose 1.5% to 5,697 and the German DAX rallied 2.7% to 6,163.
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FOX Business: The Power to Prosper A late-session rally in industrial and basic materials stocks offset losses seen across the energy sector, lifting the markets into positive territory on the day. Today's Markets The Dow Jones Industrial Average gained 21.6 points, or 0.17%, to 12471, the S&P 500 rose 3 points, or 0.23%, to 1296 and the Nasdaq Composite rose 13.9 points, or 0.51%, to 2725. Alcoa (AA: 9.93, +0.30, +3.12%), the biggest American aluminum maker, and industrial Caterpillar (CAT: 101.94, +2.30, +2.31%) rallied better than 2% in late-day action, helping the Dow shed earlier losses. DuPont (DD: 48.10, +0.80, +1.69%), American Express (AXP: 49.65, +0.70, +1.43%) and Boeing (BA: 75.51, +0.77, +1.03%) also posted solid gains. Chevron (CVX: 104.97, -2.80, -2.60%) was a substantial drag on the Dow, however, sliding more than 2%. The energy giant revealed late on Wednesday that its fourth-quarter results may come in "significantly" beneath its earnings from the prior quarter. IBM (IBM: 180.55, -1.77, 0.97%), the technology behemoth, also weighed heavily on the bluechip index. Indeed, the two companies combined subtracted more than 30 points from the Dow. Also struggling were Bank of America (BAC: 6.79, -0.08, -1.16%) and Coca-Cola (KO: 67.57, -0.49, -0.72%). Market participants parsed through a slew of European and economic
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developments on Thursday. Easing European Debt Pressure Spain sold double its target of paper maturing in 2015 and 2016 at an auction as investors began moving back into the weakened debt. The yield on the 2015 bonds fell to 3.384% from 5.187% at a similar auction in December. Italy also sold one-year bills at half the yield from an offering last month ahead of a more closely-watched auction of longerterm debt on Friday. After the auction, Italy's borrowing costs on private markets dropped as well, falling to 6.72%, beneath the 7% mark it had been trading at earlier in the week. Borrowing costs have been closely eyed by market participants as worries have mounted major that European countries, like Italy and Spain, will have difficulty refinancing their debt this year. In the past, smaller countries have gotten locked out of private borrowing markets, necessitating bailouts. The European Central Bank held its main refinancing rate at 1% following two straight months of cuts. The ECB has been working to keep the European economy afloat while also keeping inflation in check. The Bank of England also said it will keep its benchmark interest rate at 0.5% and left its asset-buying program unchanged. Both moves were widely anticipated by market participants. The euro rose 0.89% to $1.2819, while the U.S. dollar fell 0.52% against a basket of six world currencies. Disappointing U.S. Economic Data On the U.S. front, retail sales rose at a pace of 0.1% in December from the month prior, weaker than the 0.3% gain economists forecast. The weakest parts of the report were non-store retailers, electronics stores and general merchandise stores, which were somewhat offset by substantial gains in auto and building material sales. New claims for unemployment benefits rose to 399,000 last week from an upwardly revised 375,000 the week prior. Economists were expecting a smaller rise to 375,000 from an initially reported 372,000. Last week, the monthly employment report showed the unemployment rate falling to 8.5% as the economy added 200,000 jobs in December as the labor market has slowly improved following steep job losses during the recession. Having traded in positive territory for much of the session, energy futures made a late-day turn into negative territory. The benchmark crude oil contract traded in New York slumped $1.77, or 1.8%, to $99.10 a barrel. Wholesale RBOB gasoline slid 1.2% to $2.731 a gallon. In metals, gold climbed $8.10, or 0.49%, to $1,647 a troy ounce. Corporate News Sears Holdings (SHLD: 34.00, +1.10, +3.34%) shares plummeted after The Wall Street Journal reported CIT Group will not finance loans to supplies awaiting payments from the retailer. Target (TGT: 49.81, +0.78, +1.59%) unveiled a new $5 billion share
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The Hindu : Business / Markets : Sensex closes 117 points up
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Sensex closes 117 points up
PTI
The BSE benchmark Sensex on Friday recovered by 117 points on buying funds on hopes of rate cut by RBI after softening inflation and easing worries over eurozone debt crisis. The 30-share index gained 117.11 points, or 0.73 per cent to close at 16,154.62 with metal, capital goods and pow stocks leading the gains. It had lost 138 points in the previous session. The broad-based National Stock Exchan index Nifty rose by 34.75 points, or 0.72, to 4,866. Brokers said a firming trend in overseas markets as signs that Europes debt crisis is easing supported the mar Investors flocked to government bond sales in Italy and Spain, which eased concerned over debt crisis. Also, hopes of change in RBI's tight monetary stance after food inflation remained subdued bolstered the sentim The RBI next policy meeting is on January 24. The metal sector index gained the most by 3.21 per cent to 10,75 as Tata Steel surged 7.11 per cent to Rs 415.70 and Coal India by 5.56 per cent to Rs 343.60. The capital goods sector was second best performer by adding 2.86 per cent to 9,297 with Suzlon Energy gainin 8.72 per cent to Rs 22.45 and Larsen and Toubro by 3.84 per cent to Rs 1,172.60. However, market major Reliance Industries and Infosys fell on sustained selling. While RIL lost 0.75 per cent t 732.05 and Infosys fell by 0.12 per cent to Rs 2,585.55. Keywords: BSE, NSE, Sensex
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The Hindu : Business / Markets : Sensex up 277 points on FII inflows, firm...
Business Markets
Sensex up 277 points on FII inflows, firm global markets
PTI
The Bombay Stock Exchange benchmark Sensex on Tuesday surged to a five-week high, adding 277 points on buying by foreign funds amid indications that India may grow faster in the coming months and firm overseas markets. The 30-stock Sensex, which had gained 152 points in the last two sessions, moved up another 276.69 points, or per cent to 16,466.05 the level of December 8. The 50-scrip NSE index Nifty breached the 4,900 mark to close at 4,967.30 up 93.40 points, or 1.92 per cent RIL and Infosys, the top two with heaviest weight on the Sensex, logged in strong gains and were up 3.78 per ce and nearly one per cent respectively. Brokers said the trading sentiment was buoyed amid reports that the government may revise GDP growth to 8 cent next fiscal. The Budget should aim at raising the GDP growth rate to 8 per cent in 2012-13, from the expected 7 per cent in current fiscal, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said in an interview. Brokers said that after avoiding investments in the recent past, FIIs have been on a buying spree of late on hop that Indian companies may perform better in the coming quarters amid signs that RBI will cut lending rates. Besides, firm markets in Asia and Europe boosted investor confidence, they added. IT stocks made gains, with HCLT gaining 4.61 per cent on announcing strong results for the October-December quarter. The capital goods index rose 3.73 per cent to 9,843.66, followed by the metals index up 3.66 per cent at 11,17 Keywords: BSE, Sensex, Bombay Stock Exchange, stock market
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Economic Data Lift Wall Street, But Banks Drag

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FOX Business: The Power to Prosper The markets got a lift from a round of strong economic data from the U.S., China and Europe, but Citigroup's weak quarterly earnings report pressured the banking sector, restraining the gains on the day. Today's Markets The Dow Jones Industrial Average rose 60 points, or 0.48%, to 12482, the S&P 500 jumped 4.6 points, or 0.36%, to 1294 and the Nasdaq Composite gained 17.4 points, or 0.64%, to 2728. The Dow closed at its highest level since July on the day, while the Nasdaq had its best close since October. Both markets have rallied this year, with the Dow jumping 2.2% and the Nasdaq leaping 4.7% in less than a month. Energy and healthcare stocks performed the best on the day. Indeed, Merck (MRK: 38.82, +0.50, +1.30%), the pharmaceutical giant, was a top Dow component. Pioneer Natural Resources (PXD: 99.15, +1.52, +1.56%), an oil and gasoline exploration company, was among the bestperforming S&P 500 components. The Nasdaq got a lift from strength across several technology companies, including Apple (AAPL: 424.70, +4.89, +1.16%) and Amazon.com (AMZN: 181.66, +3.24, +1.82%).
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NEW YORK (CNNMoney) -- U.S. stocks started the week higher Tuesday, as investors welcomed several signs of improving global economic growth. The Dow Jones industrial average ( INDU) closed up 60 points, or 0.5%, the S&P 500 ( SPX) rose 5 points, or 0.4%, and the Nasdaq composite ( COMP) increased 17 points, or 0.6%.
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The day's gains followed a trifecta of positive economic data. China's government said the country's economy grew at an annual rate of 8.9% in the last three months of 2011, which was better than many analysts expected.
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"There have been a lot of fears about global growth," said Gerry Davies, currency analyst with ForexLive.com. "A lot of people are worried the Chinese economy is slowing down. The fact that the data came out better than expected was greeted with some relief." Investors were also encouraged by a German sentiment index that topped expectations, and by a report showing growth in New York regional manufacturing, which was largely due to new orders and employment, said Michael Sheldon, chief market strategist at RDM Financial Group. Oil prices spiked $2.19, or 2.2%, to $100.90 a barrel. Copper also rose more than 2% Tuesday. Copper prices are seen as a key predictor of the economy, since the base metal is used to manufacture goods ranging from cars to plumbing pipes.
http://money.cnn.com/2012/01/17/markets/markets_newyork/index.htm?sourc...
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Financials weighed on the overall market after Citigroup ( C, Fortune 500) missed earnings and reported sharp drops in revenues and profits for the fourth quarter. Citigroup's shares closed down more than 8%. Goldman Sachs, Bank of America, Morgan Stanley and JPMorgan Chase all closed down between 1% and 3%. While investors shrugged off Standard & Poor's downgrade of nine eurozone governments and Europe's bailout fund. Fears about Europe's debt crisis still abound. A Fitch official told Reuters Tuesday, "Greece is insolvent so it will default." Greek officials and private investors are set to resume debt talks on Wednesday. "Investors are giving the economic data and the outlook that 'things will work out' the benefit of the doubt," said Sheldon. "But we're clearly not out of the woods, and the biggest issue is still Europe." World markets: European stocks closed with solid gains. Britain's FTSE 100 ( UKX) added 0.7%, the DAX ( DAX) in Germany gained 1.8% and France's CAC 40 ( CAC40) climbed 1.4%. Asian markets ended higher. The Shanghai Composite ( SHCOMP) soared 4.2%, the Hang Seng ( HSI) in Hong Kong gained 3.2% and Japan's Nikkei ( N225) climbed 1.1%. Companies: Shares of Carnival ( CCL), the company that owns the Costa Cruises luxury ship that ran aground Friday, plummeted 14%. At least 11 people died in the wreck. Carnival said Monday it expects to lose at least $85 million. Shares of Sears ( SHLD, Fortune 500) soared 9.5% amid ongoing chatter that the troubled retailer may go private. Despite the day's spike, Sears' stock remains near its 52-week low, hit earlier this month. Goldman Sachs ( GS, Fortune 500) reports its results before the market opens Wednesday, while Bank of America ( BAC, Fortune 500) and Morgan Stanley ( MS, Fortune 500) are scheduled to release their reports ahead of the opening bell Thursday. Currencies and commodities: The dollar fell against the euro and British pound, but gained versus the Japanese yen. Gold futures for February delivery rose $24.80 to $1,655.60 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.86% from 1.85% late Monday.
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Euro downgrades have bears on the hunt - Video
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. DisclaimerLIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: 2012 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM 2012 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2012. All rights reserved. Most stock quote data provided by BATS.
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European Shares Rise Amid IMF Talk | Fox Business
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New Safe-Se Porn Law Could Cost Angeles Billions (Da Finance) REUTERS Print Email Share Comments (1) Like Tweet 40 Share 3 European shares and the euro got a boost on Wednesday on talk the IMF may do more to help resolve the European debt crisis but worries over the outcome of crucial Greek debt restructuring negotiations limited any gains. Media reports indicating that the IMF is proposing to boost its lending resources by $1 trillion reversed gains in safe-haven German government bond prices as the news encouraged buying of riskier assets. But the focus is on a meeting between international creditors and the Greek government later on Wednesday to resume talks that broke down last week over the interest rate Greece will offer on new bonds and a plan to enforce private investor losses. A deal with the private sector is vital to cash-strapped Athens if it is to gain its next batch of international aid and avoid going bankrupt when 14.5 billion euros ($18.5 billion) of bond redemptions fall due in late March. "Greek bond negotiations could trigger more euro weakness as they have to close a deal soon, before Greek debt repayments are due in March," Richard Falkenhall, currency strategist at SEB in Stockholm said. The euro traded up to session highs of $1.2845 on the IMF reports and away from the $1.2624 low hit on Friday, its weakest rate since last August. Analysts said European share markets were still looking for 'Zumba Fitn Maker Majes Hits the Wal (Daily Financ
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reasons to go higher after economic data from China and Germany on Tuesday encouraged hopes that the outlook was improving and prodded shares to 5-1/2-month highs. "Global stocks are still over sold and have room to grow on further good news," said Tom Elliott, global strategist at JP Morgan Asset Management. The concern over the euro zone's debt crisis kept the FTSEurofirst 300 index of top European shares in negative territory on Wednesday, apart from a brief gain on the IMF news, and the index was down about 0.1 percent at 1,033.60 points. DEBT SALES KEY Euro zone debt auctions will continue to be a major driver of investor sentiment with several governments lining up to refinance their debts this week. Most attention will be on French and Spanish sales of bonds later in the week. Wednesday's shorter-term offerings by Portugal and Germany were solidly placed on the back of the almost half a trillion in 3-year loans pushed into the banking system by the European Central Bank last month. The economic data flow is lighter with the German government expected to reduce its forecast for growth to only 0.7 percent for 2012 and 1.6 percent for 2013. It had previously forecast 2012 growth of 1.0 percent. The UK reported that the number of its people out of work rose to its highest level in more than 17 years in November, but a slowdown in benefit claims during December added to hopes the labour market downturn may be flattening. In commodity markets Brent crude eased back below $112 on a slightly weaker dollar but precious metals held mostly steady, supported by the more positive economic data which is seen as adding to demand. RECOMMENDED STORIES ALSO ON THE WEB
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Stock Market News for January 18, 2012 - Yahoo! Finance
http://finance.yahoo.com/news/Stock-Market-News-January-18-zacks-13...
By Zacks Equity Research | Zacks Wed, Jan 18, 2012 9:09 AM EST
The major US indices registered gains to close in the green after a slew of positive economic reports were released at home and in China. A successful debt auction in Europe added to the cheer. However, the gains were limited, as investors sentiments were dampened after the banking sector incurred losses following disappointing earnings figures from Citigroup. The Dow Jones Industrial Average (:DJI) gained 0.5% to settle at 12,482.07. The blue chip indexs major decliner was JP Morgan (NYSE:JPM) which fell by 2.81% after the banking giant reported uninspiring quarterly earnings results. The Standard & Poor 500 (S&P 500) posted gains of 0.4% and closed yesterdays trading session at 1,293.67 before touching the psychological level of 1,300 earlier during the day. Energy sector stocks gained the most. The tech laden Nasdaq Composite Index was up to 2,728.08, adding 0.6%. The fear-gauge CBOE Volatility Index (:VIX) settled above 22. Total volumes on the New York Stock Exchange were 810 million shares. On the NYSE, for every 2 stocks that rose one fell. Total composite volumes were around 3.93 billion shares. Weak earnings results from the financial sector pulled down the Financial Select Sector SPDR ETF, which measures and tracks performance of financial stocks in the S&P 500 index, by 0.8%. The SPDR S&P Bank ETF also declined by 0.9%. Share prices of Citigroup (NYSE:C) dropped 8.2% to close at $28.22, registering its biggest drop since Oct 3. The companys fourth quarter profit decreased 11% on a yearly basis. Both the banks profit and revenue came in well short of expectations amid an unsteady start to the earnings season. Last week another banking major, JP Morgan (NYSE:JPM) too missed its revenue expectations. However, shares of San Francisco based Wells Fargo & Co. (NYSE:WFC) gained
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marginally after the company reported higher fourth quarter earnings and also reported a rise in its income. The major financial stocks to bleed yesterday include Bank of America Corp. (NYSE:BAC), Morgan Stanley (NYSE:MS), Fifth Third Bancorp. (NASDAQ:FITB), IntercontinentalExchange Inc. (NYSE:ICE) and MetLife Inc. (NYSE:MET) which all fell by 2.2%, 2.3%, 2.1%, 3.7% and 1.7% to close at $6.48, 16.25, 13.73%, $112.15 and 34.65 respectively. On the economic front, the Federal bank of New York released its NY Empire State Index, which reported that manufacturing in the New York region increased 13.5 against an expected increase of 11.66 in January, marking its highest rise since the month of April last year. Major economic reports scheduled for release today include PPI, Capacity Utilization, Industrial Production, NAHB housing market index and Net Foreign Purchases. Meanwhile from the Chinese Government released encouraging data, according to which the country has registered higher than expected fourth quarter GDP growth. Chinas GDP came at 8.9% beating expectations of a growth of 8.6%. Following the encouraging report, Chinese markets were up by 4-5%. Coming to bond auction news on the European front, Spain, one of the regions troubled nations, boosted sentiment after successful short term debt auctions. The demand for Spanish bonds was strong and yields on them were halved. Greeces borrowing costs were also lowered after an auction, helping the European markets to close at a five month high. Coming to individual stocks, share prices of cruise company Carnival Corporation (NYSE:CCL) fell 13.65% to close at $29.60 after one of its cruisers crashed off the coast of Italy. Separately, Morgan Stanley (NYSE:MS) downgraded the shares of the company from overweight to equal-weight. Food producers Kraft Foods (NYSE:KFT) shares gained slightly after the company said its fourth quarter earnings figures will come in above previously forecasted estimates. Meanwhile the company plans to slash 1,600 jobs. BlackBerry maker Research In Motions (NASDAQ:RIMM) share prices surged
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8.0% following market rumors that the company may sell one of its divisions. Share prices of retailer Sears Holding (NASDAQ:SHLD) advanced 9.5% to close at $36.75 following rumors that the company may go private. These speculations have arisen after the Chairman of Sears, Mr. Eddie Lampert added shares worth $130 million to his personal holding. Zacks Investment Research
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A strong weekly jobs report, solid debt auctions in Europe and betterthan-expected quarterly results from two financial giants unleashed the bulls on Wall Street for the third day in a row. Today's Markets The Dow Jones Industrial Average rose 45 points, or 0.36%, to 12624, the S&P 500 rose 6.5 points, or 0.49%, to 1315 and the Nasdaq Composite climbed 18.6 points, or 0.67%, to 2788. The markets have been on a roll so far this year. The blue chips have added more than 400 points so far in 2012 and are presently sitting at their highest level since July. Roughly a quarter of the gains on a point basis come from Caterpillar (CAT: 105.75, +1.49, +1.43%), one of the world's biggest heavymachinery makers, according to an analysis by FOX Business. 3M (MMM: 85.80, +0.73, +0.86%), United Technologies (UTX: 77.19, 0.41, -0.53%) and American Express (AMX: 23.70, +0.63, +2.73%) are responsible for another quarter, the analysis showed. Financial and industrial players led the gains on the day.
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France also had a strong debt auction as traders shrugged off Standard & Poor's downgrade of the country one notch from triple-A last week. The euro rose by 0.44% to $1.292, its third-straight day of gains. Meanwhile, the U.S. dollar was off 0.31% against a basket of world currencies. Commodities were to the downside. Natural gas futures plunged 6.1% to $2.322 per million British Thermal Units, the lowest settle in a decade. The benchmark crude oil contract traded in New York fell 20 cents, or 0.2%, to $100.39 a barrel. Wholesale RBOB gasoline dipped 0.34% to $2.816 a gallon. In metals, gold was down $5.40, or 0.33%, to $1,654 a troy ounce. Foreign Markets European blue chips rallied 1.9%, the English FTSE 100 rose 0.68% to 5,741 and the German DAX climbed 0.97% to 6,416. In Asia, the Japanese Nikkei 225 gained 1% to 8,640 and the Chinese Hang Seng jumped 1.3% to 19,943.
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The Dow zipped higher as several technology blue chips rallied, while the broader S&P 500 edged higher. Both stock-market averages closed out the week on a four-day winning streak. Today's Markets The Dow Jones Industrial Average rose 96.5 points, or 0.76%, to 12720, the S&P 500 gained 0.88 point, or 0.07%, to 1315 and the Nasdaq Composite fell 1.6 points, or 0.06%, to 2787. For the week, the Nasdaq jumped 2.8%, the Dow climbed 2.4%, and the S&P 500 climbed 2%. Gains have been strong so far for the year as well, with the Dow and S&P climbing more than 4% and the Nasdaq zooming close to 7% to the upside. Intel (INTC: 26.38, +0.75, +2.93%), IBM (IBM: 188.52, +8.00, +4.43%) and Microsoft (MSFT: 29.71, +1.59, +5.65%) all topped profit expectations when they posted their results after the closing bell on Thursday, sending their shares sharply higher on the day. HewlettPackard (HPQ: 28.13, +0.98, +3.61%) got a powerful tailwind from its fellow titans in the technology realm. Indeed, the four technology giants combined were responsible for nearly 87 points of the Dow's upswing, with IBM adding 60 points in its own. Two big-name companies, however, failed to impress with their fourth-
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In Asia, the Japanese Nikkei 225 rallied 1.5% to 8,766 and the Chinese Hang Seng climbed 0.84% to 20,110.
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The Hindu : Business / Markets : Sensex touches 17,000 level
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Sensex touches 17,000 level
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The Hindu The 30-scrip Sensex crossed the crucial 17,000 mark before ending 244.04 points, or 1.46 per cent, up at 16,995.7
The Bombay Stock Exchange benchmark Sensex on Tuesday crossed the 17,000 mark before easing a bit to clos day 244 points up as investors cheered RBI move to cut cash reserve ratio to infuse liquidity in the system. The Reserve Bank announced 0.5 percentage point cut in CRR, a move that would inject Rs 32,000 crore into th system, but left lending rates unchanged which was largely on the expected lines. The 30-scrip Sensex crossed the crucial 17,000 mark before ending 244.04 points, or 1.46 per cent, up at 16,995 The 50-issue National Stock Exchange index Nifty regained the crucial 5,100 level, adding 81.10 points and clos 5,127.35. Capital goods and banking and interest-sensitive stocks supported the rally. SBI, RIL, L&T, ICICI Bank and Hindalco made strong gains. The capital goods sector index gained 3.30 per cent to 10,208.70, followed banking index 3.21 per cent at 11,286.43. The metal index rose 1.78 per cent to 11,162.65 and auto index by 1.53 per cent to 8,998.04. Top Sensex heavyweights RIL and Infosys gained 1.58 per cent and 0.78 per cent. The two carry around 20 p cent weight on the index. Keywords: sensex, BSE, closing trade
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24-Jan-2012 8:38 AM
The Hindu : Business / Markets : Sensex closes above 17k-level after 10...
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Sensex closes above 17k-level after 10 weeks
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The Bombay Stock Exchange benchmark Sensex on Wednesday gained 81 points to close above 17,000-point le after 10 weeks on positive investor sentiment after the Reserve Bank of India shifted focus to economic growth policy review on Tuesday. The Sensex added 81.41 points to close at 17,077.18, matching the highest level seen on November 14. On similar lines, the National Stock Exchange index Nifty rose by 30.95 points to 5,158.30. Traders said investors confidence got a boost after the RBI on Tuesday reduced the cash reserve ratio (CRR) fo first time since 2009, signalling to banks that they cut interest rates. The Sensex had gained 244 points on Tues as well. Buying activity picked up also on account of investors covering their pending positions created on the last day o current month settlement in the derivatives segment. Reliance Industries rose by 0.89 per cent to Rs. 790.10 and Infosys by 1.51 per cent to Rs. 2,659.75. Banking sector stocks rose on expectations that the RBI move would boost revenue of lenders. HDFC jumped 1 per cent to Rs. 708.30 and State Bank by 0.75 per cent to Rs. 2,056.60. The metal sector index gained the most, 1.79 per cent, followed by auto index at 1.15 per cent, IT sector index 1. per cent, oil and gas 0.57 per cent and banking index 0.33 per cent. Stock markets will remain closed on Thursday on account of Republic Day. Keywords: BSE, Bombay Stock Exchange, Sensex, stock market
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25-Jan-2012 10:43 AM
The Hindu : Business / Markets : Sensex up 82 points in early trade
Business Markets
Sensex up 82 points in early trade
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PTI Brokers said sustained buying by retailers amid firming trend on the other Asian bourses mainly influenced the trading sentiment.
The BSE benchmark Sensex rose further by 82 points in early trade today on sustained buying by funds and ret investors following RBIs decision to cut cash reserve ratio (CRR). The 30-share index, which had gained 244.04 points in the previous session, moved up further by 82.34 points 0.48 per cent, to 17,078.11 with all sectoral indices trading in the positive. The wide-based National Stock Exchange Nifty Index moved up by 22.70 points, or 0.44 per cent to 5,150.05 po Brokers said sustained buying by retailers amid firming trend on the other Asian bourses mainly influenced the trading sentiment. In the Asian region, Japans Nikkei Index rose by 0.97 per cent in morning trade today. Keywords: share markets, stock markets
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25-Jan-2012 10:44 AM
Stocks Rally as Fed Extends Low-Rate Pledge | Fox Business
http://www.foxbusiness.com/markets/2012/01/25/stocks-rally-as-fed-ext...
FOLLOW FOX BUSINESS Follow @foxbusiness 62.6K Written By Adam Samson Published January 25, 2012 FOXBusiness Like 72856 likes. Sign Up to what your friends like.
MORE STORIES Is American Manufacturi on Track for Comeback? (Daily Financ Want a Bette Used Car? Shop like a Woman (Da Finance) Show M BUSINESS SOLUTIONS More Stor Print Email Share Comments Like 1 Tweet 12 Share 1 Today's Markets The Dow Jones Industrial Average rose 83.1 points, or 0.66%, to 12759, the S&P 500 gained 11.4 points, or 0.87%, to 1326 and the Nasdaq Composite rose 31.7 points, or 1.1%, to 2818. The Federal Reserve said on Wednesday it plans on holding interest rates at exceptionally low levels until late 2014 to support a stronger economic recovery. The central bank also said it expects employment to improve only gradually. The economic community had differing view points on what exactly this moves indicates. "This could be an indication that the [FOMC] isnt ready to pull the trigger on another round of large-scale assets purchases," Paul Edelstein, director of financial economics at IHS Global Insight wrote in a research note following the release. Indeed, many economists have predicted the Fed will kick off a round of quantitative easing to further boost the economy, and help the still embattled housing market. Tom Porcelli, an economist at RBC Capital Markets, took FOX Business: The Power to Prosper The markets shed early losses and jumped into positive territory after the Federal Reserve said it would hold interest rates at exceptionally low levels until 2014. SAP Bullish on 2012 After Record Results SAP Beats Forecasts With Q4 Profit Rise SAP Splashes Out in CloudComputing Frenzy Cloud la Carte: 6 Ways to Order Off the Cloud
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Wednesday's move to show the Fed is still "scared" about the sluggish level of economic growth and labor-market improvement. The central bank also revealed a long-run inflation target of 2%. The Fed, under the guidance of Chairman Ben Bernanke, has been working to make itself a more transparent institution. On top of being perhaps more explicit than it ever has regarding inflation, it revealed interest rate and economic growth forecasts from the members of the Federal Open Market Committee. The tech-heavy Nasdaq got a boost from shares of Apple (AAPL: 446.66, +26.25, +6.24%) that soared more than 6% a day after the iPad-maker posted record quarterly results that shattered expectations on the top and bottom lines. The company briefly topped ExxonMobil (XOM: 87.22, +0.04, +0.05%) as most valuable company in the U.S. by market capitalization before Exxon shed losses following the Fed statement. Also on the earnings front, Boeing (BA: 75.82, +0.46, +0.61%) posted fourth-quarter results that jetted past analysts' expectations. However, the aerospace giant's full-year 2012 outlook fell well short of estimates. United Technologies (UTX: 77.65, -0.13, -0.17%), another blue chip, posted mixed results, beating Wall Street's view on the bottom line, but missing on the top line. Market participants had a slew of other developments to consider as well. Great Britain's economy contracted by 0.2% in the final quarter of 2012, a slightly bigger fall than the 0.1% economists forecast. On a more upbeat note, however, business confidence in Germany, Europe's biggest economy, rose for the third-straight month, accelerating at a quicker pace than economists' expected. Negotiations between Greece and its private creditors, meanwhile, remained deadlocked on Wednesday. The country has a debt payment to make in late March, and if the embattled country is unable to conclude talks and receive its much-needed rescue funds from the European Union and International Monetary Fund, it risks a messy default. Commodities markets were mixed. The benchmark crude oil contract traded in New York fell 45 cents, or 0.44%, to $98.50 a barrel. Wholesale RBOB gasoline rose 0.58% to $2.821 a gallon.
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25-Jan-2012 6:32 PM
In metals, gold fell $5.40, or 0.31%, to $1,659. Foreign Markets European blue chips slid 0.45%, the English FTSE 100 fell 0.5% to 5,723 and the German DAX edged higher by 0.04% to 6,422. In Asia, the Japanese Nikkei 225 rallied 1.1%. RECOMMENDED STORIES Republican Response to Presidents State of the Union Intelligence Officer: Ron Pauls Right on Iran Gold Climbs After Fed Pledges To Keep Rates Low Mitch Daniels 2012? Japan Posts First Annual Trade Deficit Since 1980 SHARE THIS ARTICLE 1 Like 12 Twee 0 NEWSLETTER SIGNUP Sign up for free e-mail news alerts from FoxNews.com and FoxBusiness.com. Enter Your Email Address ALSO ON THE WEB
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Varney & Company The Willis Report Quotes delayed at least 15 minutes. Real-time quotes provided by BATS Exchange. Market Data provided by Interactive Data (Terms & Conditions). Powered and Implemented by Interactive Data Managed Solutions. Company fundamental data provided by Morningstar. Earnings estimates dat provided by Zacks. Mutual fund data provided by Lipper. Economic data provided by Econoday. Dow Jones & Company Terms & Conditions. This material may not be published, broadcast, rewritten, or redistributed. 2012 FOX News Network, LLC. All rights reserv
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Stocks jump after Fed's low-rate pledge

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By Hibah Yousuf @CNNMoneyMarketsJanuary 25, 2012: 4:37 PM ET
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NEW YORK (CNNMoney) -- U.S. stocks shaved early losses and ended higher Wednesday afternoon after the Federal Reserve said it plans to keep interest rates near historic lows through late 2014. The Fed, which issued a statement at the end of a two-day policy meeting midday Wednesday, had previously said it would hold rates low through mid2013.
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The Fed's main tool for stimulating the economy, the federal funds rate is the interest rate banks charge one another for overnight loans. Keeping it at historic lows, as the Fed has done since 2008, is meant to stimulate spending by lowering interest rates on everything from mortgages to car and student loans.
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Following the Fed's announcement, the Dow Jones industrial average ( INDU) gained 83 points, or 0.7%, after shedding as much as 95 points earlier in the day. The S&P 500 ( SPX) added 11 points, or 0.9%, after losing 7 points earlier. Fed to keep rates low until 2014 The Nasdaq ( COMP) continued to buck the trend, adding 32 points, or 1.1%. Software company CA ( CA) and Apple ( AAPL, Fortune 500) were among the biggest gainers on the tech-heavy index, thanks to betterthan-expected earnings. "Investors are definitely encouraged by the Fed's promise to remain accommodative for the next few years, but they're also wondering why the Fed is being so cautious since we've seen pretty good economic data recently," said Mark Lamkin, CEO of Lamkin Wealth Management. In addition to keeping low rates, Fed chief Ben Bernanke also left the door wide open to additional stimulative policies, including a third round of bond purchases, a policy known as quantitative easing, or QE3. During a press conference following the statement, Bernanke said "expanding the balance sheet certainly remains an option" for the Fed, and the central bank would consider it "very seriously if, in particular, progress

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25-Jan-2012
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towards full employment was -- continued or became more inadequate, or if inflation remained exceptionally low." "The Fed is in a wait-and-see mode," noted Lamkin. "They saying they're encouraged by the signs, but not so encouraged that they're ready to take the economy and markets off the juice." Apple's earnings provided some positive momentum Wednesday, especially in the tech sector. With $97.6 billion, Apple has more cash than...
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Late Tuesday, the iPhone and iPad maker reported a whopping quarterly profit of $13 billion -- the best quarter ever for a technology company. The company said sales for the quarter hit $46.3 billion, sending shares shooting up 6.2% Wednesday. The gains helped Apple surpass Exxon Mobil ( XOM, Fortune 500) as the most valuable U.S. company. Meanwhile, investors are also watching Greece's ongoing negotiations with representatives of private-sector creditors to reduce its debt burden. Officials are set to resume informal talks Thursday in Athens. Greece is in desperate need of an agreement to receive additional bailout funds from the European Union and International Monetary Fund. Without these funds, the country may not be able to make a 14 billion debt payment that's due March 20. U.S. stocks ended mostly in the red Tuesday, as investors waded through corporate results and awaited progress out of Greece. World markets: European ended the day mixed. Britain's FTSE 100 ( UKX) lost 0.5%, the DAX ( DAX) in Germany gained slightly, and France's CAC 40 ( CAC40) fell 0.3%. U.S. inches closer to 'Europe moment' The UK government reported a 0.2% decline in fourth-quarter gross domestic product, the broadest measure of economic activity, due to weakness in the production and construction sectors. Meanwhile, Germany's Ifo index, a widely watched gauge of business confidence, rose in January, indicating that the German economy may be gathering steam. The positive report follows an auction of 30-year German bonds that drew strong demand. Markets in Hong Kong and Shanghai were closed Wednesday for the Chinese New Year. Japan's Nikkei ( N225) ended 1% higher. Economy: The Federal Reserve left its key interest rate unchanged at 0.25%, as analysts expected. The Fed also released forward-looking forecasts for the federal funds rate for the first time ever on Wednesday, in addition to its outlook on the economy and labor market. Fed forecasting breaks new ground The central bank said it expects the unemployment rate to fall to between 8.2% and 8.5% in 2012, an improvement over what it had predicted back in November. But the Fed is also predicting the economy will grow between 2.2% and 2.7% this year, slightly slower than it had previously thought. For that reason, most of the policymakers at the Fed think the federal funds rate should remain near zero for the foreseeable future. Pending home sales for the month of December dropped by 3.5%, after rising 7.3% in the prior month. Economists were expecting sales to fall 3%. Companies: Shares of Boeing ( BA, Fortune 500) turned higher, as the airplane maker reported a jump in fourth-quarter profit and revenue. Earlier shares were down, as the company also issued a disappointing full-year earnings guidance. Delta ( DAL, Fortune 500) reported fourth-quarter earnings that widely beat expectations, sending shares of the airline higher. Fed to keep rates low until 2014
The Federal Reserve noted the economy has been improving, but not enough to warrant higher interest rates until at least late 2014. More
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The shrinking private equity world Shares of Ericsson ( ERIC) tumbled after the Swedish telecom-equipment maker reported a 66% drop in fourth-quarter profit, driven by weak network sales. Yahoo ( YHOO, Fortune 500) reported a much quieter quarter than Apple, posting earnings in line with analysts' expectations after the close Tuesday. Shares of the company slipped. Shares of Nvidia ( NVDA) slumped a day after the graphics chip maker cut its fourth-quarter sales outlook, citing a shortage of disk drives. Advanced Micro Devices ( AMD, Fortune 500) also reported earnings late Tuesday, posting revenue that missed expectations. But shares of the semiconductor company rose slightly. Following the closing bell, Netflix ( NFLX) said it began to add customers again last quarter, a sign that the company is recovering after a series of blunders damaged its sterling reputation with consumers and investors. Netflix also beat earnings and sales estimates for the corner, and shares rose 10% in after-hours trading. Currencies and commodities: The dollar gained against the euro, the British pound and the Japanese yen. Oil for March delivery rose 45 cents to settle at $99.40 a barrel. Gold futures for February delivery gained $35.60 , or 2.1%, to settle at $1,700.10 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury rose slightly, pushing the yield down to 2.01% from 2.06% late Tuesday.
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25-Jan-2012
The Hindu : Business / Markets : Sensex gains 176 points in early trade
Business Markets
Sensex gains 176 points in early trade
PTI
The BSE benchmark Sensex on Friday shot up by another 176 points in early trade, extending gains for the four straight session on continued buying by funds and retailers amid a firming trend in Asian markets. The 30-share index rose further by 176.39 points, or 1.03 per cent, to 17,253.57. It had gained over 338 points in past three sessions. In a similar fashion, the wide-based National Stock Exchange Nifty index regained 5,200 points level to trade 4 points, or 0.96 per cent, higher at 5,208.05 points. Brokers said apart from a firming trend on other Asian bourses, hopes of easing liquidity in the market after th cut cash reserve ratio by 0.50 percentage point in its policy review on Tuesday, buoyed the trading sentiment. In Asia, Hong Kongs Hang Seng Index rose by 0.13 per cent and Japans Nikkei Index by 0.40 per cent in early trade on Friday. Keywords: Nifty, Sensex, BSE
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27-Jan-2012 2:14 PM
The Hindu : Business / Markets : Sensex gains 330 points on buying in blu...
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Sensex gains 330 points on buying in blue chips
PTI
AP The Bombay Stock Exchange benchmark rose 330 points on Tuesday, regaining much of the lost ground of the previous session. File photo
The BSE Sensex rose 330 points on Tuesday, regaining much of the lost ground of the previous session, on buy blue chips such as Reliance Industries and SBI on increased FII inflows and a firm global trend. The Bombay Stock Exchange 30-scrip Sensex, which had lost 371 points on Monday on profit-booking, spurted 330.25 points, or 1.96 per cent to 17,193.55. The 50-stock NSE index Nifty recovered 111.95 points, or 2.20 per cent to 5,199.25. It had lost 117.40 points in t last session. The heaviest on the benchmark, the RIL shot up 2.51 per cent after a loss of over 3 per cent on Monday. State-owned SBI jumped 3.53 per cent on the governments decision to infuse Rs. 7,900 crore capital in the ban Top private lender ICICIBank surged 5.87 per cent on rise in third quarter earnings. A firm trend in Asian markets and higher openings in Europe amid reports that European leaders have agreed treaty to resolve eurozone debt crisis improved investor sentiment. The banking index gained the most, rising 3.84 per cent to 11,390.70. In the IT sector, Infosys rose 1.38 per cen Tata Consultancy Services by 1.89 and Wipro by 0.88 per cent. Bajaj Auto, Mahindra and Mahindra, Hero Motocorp, Tata Motors, Jindal Steel, Sterlite Industries, Tata Steel, Pharma, DLF, Hindalco, Larsen and Toubro and BHEL recorded handsome gains. Keywords: Sensex, BSE, Nifty, NSE
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31-Jan-2012 8:59 AM
Stock Markets - Feb. 1, 2012 - CNNMoney
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Wall Street extends rally into February

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By Ben Rooney @CNNMoneyMarketsFebruary 1, 2012: 4:41 PM ET
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NEW YORK (CNNMoney) -- U.S. stocks rose Wednesday, but closed off the highs of the day, on a combination of improved economic data and easing concerns about Europe's debt crisis. The Dow Jones industrial average ( INDU) rose 83 points, or 0.6%, to end at 12,716. The S&P 500 ( SPX) gained 12 points, or 0.9%, to 1,324. The Nasdaq rose 34 points, or 1.2%, to 2,848.
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Wednesday's advance extends last month's strong gains. It was the best January for the S&P and Dow since 1997 and since 2001 for the Nasdaq. Financial stocks were among the best performers, with shares of Citigroup ( C, Fortune 500), Morgan Stanley ( MS, Fortune 500) and Goldman Sachs ( GS, Fortune 500) up between 2% and 4%.

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Traders said bank stocks were supported by expectations that a highly anticipated IPO filing by Facebook could signal a rebound in capital markets activity. Meanwhile, the technology sector was supported by strong quarterly results from chipmaker Broadcom and data storage company Seagate. A key index of U.S. manufacturing activity came in slightly below expectations, but still signaled expansion in the sector. Earlier reports showed manufacturing activity picked up in China, Germany, France and the United Kingdom. "Reports out of China and the U.S. today are clearly more positive," said Art Hogan, managing director at Lazard Capital Markets. "The economic data today is one of the biggest drivers." Meanwhile, investors welcomed signs that talks in Greece are progressing on a second bailout and a write down of the nation's private-sector debt load. In the bond market, yields on Portuguese government bonds eased after the nation drew strong demand for an auction of short-term bills.

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"As long as Europe doesn't implode, it seems like the market wants to go higher," said David Rovelli, managing director of U.S. equity trading at Canaccord Adams. Europe: 4 things you need to know The other big news Wednesday looks likely to be Facebook's long-awaited IPO filing. According to reports from outlets including the New York Times and CNBC, Facebook is seeking to raise up to $5 billion in its offering. If that number is correct, Facebook would by far be the largest global IPO by an Internet-focused company, according to data from Dealogic. Some experts have suggested that the social network could be valued between $75 billion and $100 billion once it starts trading, which will likely happen a few months after its initial filing. U.S. stocks traded in a narrow range Tuesday, after worse-than-expected U.S. housing and manufacturing data tempered the modest enthusiasm over Europe's progress on a new pact aimed at promoting fiscal discipline. Economy: The ISM, a purchasing managers group, said its manufacturing index for January rose to 54.1 from 53.1 in December. The index was expected to stand at 54.5, according to economists surveyed by Briefing.com. Meanwhile, construction spending jumped 1.5% in December versus the month prior, the U.S. government said. Economists had expected an increase of 0.4%. A report from payroll processor ADP showed that the private sector added 170,000 jobs in January. The report was expected to show that 200,000 jobs were added last month,down from the revised gains of 292,000 the month prior. Separately, the Obama administration detailed its latest plan to help millions of homeowners refinance their mortgages to today's historicallylow rates. Companies: NYSE Euronext ( NYX, Fortune 500) announced early Wednesday that it will terminate its merger agreement with Deutsche Boerse. The proposed $10 billion takeover of the operator of the New York Stock Exchange would have created the world's largest exchange, but was quashed by European officials. Pfizer ( PFE, Fortune 500) is recalling 1 million packs of birth control pills, after the pharmaceutical giant discovered that some blister packs may contain an inexact count of inert or active ingredient tablets, and that the tablets may be out of sequence. Birth control pills typically have to be taken in sequence to be effective. Is JC Penney the future of retail? Shares of Tupperware ( TUP) fell after the company reported earnings per share that fell 3 cents short of forecasts. Hershey's ( HSY, Fortune 500) shares edged higher after the chocolate maker reported earnings and sales in line with estimates. Whirlpool ( WHR, Fortune 500) shares rose 17% after the company beat Wall Street expectations on both earnings and revenue. Broadcom's ( BRCM, Fortune 500) stock also got a boost after the semiconductor firm reported slightly better results and issued a brighter outlook. Shares of Seagate Technology ( STX) surged 21% after the data storage company reported strong quarterly sales and earnings. AOL ( AOL) reported fourth-quarter earnings of 23 cents per share, down 66% compared to last year. But the better-than-expected results boosted the Internet company's stock 10%. IAC ( IACI) shares rallied after the parent of more than 50 Internet businesses reported strong quarterly results. Shares of online retailer Amazon ( AMZN, Fortune 500) plunged after the company reported quarterly revenue late Tuesday that missed analysts' estimates. But the company beat profit expectations.
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Two years after its bankruptcy and U.S. bailout, Chrysler Group posted 2011 net income of $183 million, its first annual profit since 2005. World markets: European stocks closed higher. Britain's FTSE 100 ( UKX) added 1.8%, the DAX ( DAX) in Germany gained 2.5% and France's CAC 40 ( CAC40) rose 2%. Asian markets ended most lower. The Shanghai Composite ( SHCOMP) fell 1.1%, the Hang Seng ( HSI) in Hong Kong dropped 0.3% and Japan's Nikkei ( N225) was flat. Currencies and commodities: The dollar fell against the euro, the Japanese yen and the British pound. Oil for March delivery fell 87 cents to end at $97.61 a barrel. Gold futures for April delivery rose $9.10 to close at $1,749.50 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.83% from 1.80% late Tuesday.
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Hot Start to February: Strong Data Fling Wall Street Higher

Written By Adam Samson Published February 01, 2012 FOXBusiness
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FOX Business: The Power to Prosper Wall Street tacked on solid gains on the first trading day of the month after a round of solid economic reports from across the globe whetted traders' appetite for risky assets. Today's Markets The Dow Jones Industrial Average jumped 83.6 points, or 0.66%, to 12716, the S&P 500 rallied 11.7 points, or 0.89%, to 1324 and the Nasdaq Composite rose 34.4 points, or 1.2%, to 2848.
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The rally was quite broad on the day. In fact, 33 companies listed on the broad S&P 500 hit 52-week highs, according to data compiled by FOX Business. Big financial names like Morgan Stanley (MS: 19.39, +0.74, +3.97%), American International Group (AIG: 26.60, +1.49, +5.93%) and Bank of America (BAC: 7.36, +0.23, +3.23%) posted some of the sharpest gains. Industrials like United Technologies (UTX: 80.22, +1.87, +2.39%) and Caterpillar (CAT: 110.52, +1.40, +1.28%) were strong performers as well. Economic data came squarely into focus. The manufacturing sector expanded at a quicker pace in January than it did in December, according to a report from the Institute for Supply Management. ISM's gauge hit 54.1 for the month from 53.1 in December, falling slightly short of estimates of 54.5. U.S. construction spending, meanwhile, jumped 1.5% in December from November, easily beating forecasts of a 0.6% gain. The private sector added 170,000 jobs last month, according to a report from payroll-processing firm ADP. Economists had been expecting an increase of 185,000. The December figures were revised down to 292,000 private sector jobs added from an initially reported 325,000.
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The data come ahead of the closely-watched monthly employment report from the Labor Department on Friday. The jobs market has slowly recovered from the recession, when the unemployment rate peaked at 10% in October 2009. The jobless rate fell to 8.5% in the final month of 2011. China, the world's second biggest economy, said its manufacturing sector expanded slightly in January, notching a quicker pace than in December, and topping forecasts for a very slight contraction. The report helped ease concerns that the country is in for an abrupt slowdown that could send shockwaves through the global economy. In Europe, Germany, the continent's economic powerhouse, and the U.K. both saw their manufacturing sectors pick up steam as well, according to data from Markit. The acceleration in Germany, however, failed to catalyze growth in the 17-member eurozone, which saw a contraction in manufacturing for the sixth-straight month, the data show. "Overall, today's data confirmed the message in the flash reports that the manufacturing sector in the euro area [stabilized] in January," analysts at Nomura wrote in a note to clients.
Markets Awaiting Facebook IPO Filing
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European blue chips soared 2.2% and the euro gained 0.39% to $1.3135. Meanwhile, the greenback fell 0.3% against a basket of six world currencies tracked by the dollar index. Automakers reported their monthly sales on the day. Chrysler posted a 44% jump in monthly sales, and also revealed it swung to a $183 million profit for 2011, compared with a $625 million loss the year prior. This was the first year the smallest of Detroit's "big three" automobile companies profited since going bankrupt and receiving a government bailout in 2009. Ford (F: 12.33, -0.09, -0.72%) said its sales climbed by 7% in January, while General Motors' (GM: 24.37, +0.35, +1.46%) sales fell 6%. Commodities markets were mixed. The benchmark crude oil contract traded in New York slipped 88 cents, or 0.88%, to $97.61 a barrel. Wholesale RBOB gasoline gained 0.04% to $2.892 a gallon. In metals, gold rose $9.10, or 0.52%, to $1,750 a troy ounce. Foreign Markets European blue chips rallied 2.2%, the English FTSE 100 jumped 1.9% to 5,791 and the German DAX soared 2.4% to 6,617. In Asia, the Japanese Nikkei 225 edged 0.08% higher to 8,810 and the Chinese Hang Seng slipped 0.28% to 20,333.
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The Hindu : Business / Markets : Sensex up 131 points led by IT, metal stocks
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Sensex up 131 points led by IT, metal stocks
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The Bombay Stock Exchange benchmark Sensex was up 131 points on Thursday on sustained buying by funds. File photo
The Bombay Stock Exchange benchmark Sensex was up 131 points on Thursday on sustained buying by funds, especially in IT and metal sectors amid strong gains in the Asian region on signs of growth in major global economies. The Sensex, which had gained 437 points in last two sessions, rose another 131.27 points, 0.76 per cent to 17,43 Similarly, the National Stock Exchange index Nifty rose 34.20 points, or 0.65 per cent to 5,269.90. Top IT firms Infosys shot up by 0.68 per cent, Tata Consultancy Services by 1.62 per cent and Wipro 3.46 per ce Brokers positive cues from Asia followed improving factory output figures from China, the U.S. and Germany f month of January, easing worries over slowing global growth. After the Supreme Court quashed 122 telecom licences issued to new operators in 2008, stocks of old players su Bharti Airtel and Idea rose 6.88 per cent and 2.68 per cent. Major gainers included Hero MotoCorp, Larsen and Toubro, BHEL, Hindalco, Sterlite Industries, Tata Power, Ltd., Gail India, Maruti Suzuki, SBI, ICICI Bank, HDFC Bank and Coal India. Keywords: Sensex, BSE, Nifty, NSE
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The Hindu : Business / Markets : Sensex up 173 points; RIL gains 1.10 pc
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Sensex up 173 points; RIL gains 1.10 pc
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Extending gains for the fourth day in a row, the BSE benchmark Sensex on Friday rose by 173 points on sustain buying driven by expectations of a cut in interest rates by the Reserve Bank. The 30-share Sensex, which had gained 568 points in the last three sessions, advanced further by 173.11 points 0.99 per cent, to 17,604.96. Similarly, the National Stock Exchange index Nifty rose by 55.95 points, or 1.06 per cent, to 5,325.85 with blue-chips, led by Reliance Industries and Infosys, recording gains. Brokers said market sentiment remained buoyant on reports that the Reserve Bank of India might slash intere rates in view of slowing food inflation. Sensex heaviest Reliance Industries rose by 1.10 per cent to Rs 837.75 and second heaviest Infosys gained 0.96 cent to Rs 2,779.95. The realty sector index gained the most by rising 2.15 per cent to 1,784.17, followed by healthcare index which g 1.69 per cent to 6,411.72 as Dr Reddys surged 2.16 per cent to Rs 1,670.50 on encouraging quarter earnings. Others on the plus side were Bharti Airtel, Sun Pharma, Tata Consultancy Services, ONGC, Mahindra and Mahindra, Tata Motors, ICICI Bank, Hindustan Unilever, HDFC Bank, BHRL and Cipla. Keywords: Bombay Stock Exchange
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03-Feb-2012 9:14 AM
Stocks jump on strong jobs report for January - Yahoo! Finance
http://finance.yahoo.com/news/stocks-jump-strong-jobs-report-january-1...
By MATTHEW CRAFT | Associated Press 2 hours 30 minutes ago
NEW YORK (AP) A drop in the unemployment rate to its lowest level in three years propelled stocks higher Friday. The Dow Jones industrial average jumped more than 130 points, drawing the average to its highest mark since before the financial crisis hit in 2008. The Nasdaq index reached levels last seen in December 2000. Before the market opened, the Labor Department said companies hired 243,000 employees in January. That's the strongest job growth in nine months. The increase in hiring pushed the unemployment rate down to 8.3 percent. The surprising data gave stocks a morning jolt. The Dow shot up 161 points in early trading before drifting slightly lower. "In this economy only one variable matters right now and that variable is employment," said Lawrence Creatura, an equity portfolio manager at Federated Investors. "This report was great news. It was beyond all expectations, literally. The number (243,000 hired in January) was higher than even the highest forecast." The Standard & Poor's 500 index added 17 points to 1,342, a half hour before the close. That's a gain of 1.3 percent. The S&P 500 is on track to rise for the fifth straight week, the longest weekly winning streak since January of 2011. It's up 6.8 percent so far this year. More evidence that the economy is gaining strength followed the jobs report. A trade group said the service industry expanded at the fastest pace since last
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03-Feb-2012 6:26 PM
Stocks jump on strong jobs report for January - Yahoo! Finance
http://finance.yahoo.com/news/stocks-jump-strong-jobs-report-january-1...
February. The government also said factory orders rose 1.1 percent in December, supported by a rebound in orders for heavy machinery. In other trading, the Dow gained 131 points to 12,836, an increase of 1 percent. Bank of America Corp. led the Dow, rising 4.3 percent. Only three stocks were lower: Merck, Procter & Gamble and Pfizer. The Nasdaq composite added 43 points, or 1.5 percent, to 2,902. Treasury prices fell lifting the yield on the 10-year Treasury to 1.93 percent. When bond prices fall, yields rise. The benchmark 10-year rate had traded below 1.79 percent earlier this week as traders bought U.S. Treasurys on renewed concern over Europe's ongoing debt crisis. The U.S. jobs figures helped markets in Europe rally on Friday despite further evidence that the 17-country eurozone is heading for recession. Germany's DAX closed 1.7 percent higher, and France's CAC-40 gained 1.5 percent. Among companies whose stocks are making large moves: Genworth Financial soared 13 percent, the best gain in the S&P 500. The insurance company reported late Thursday that it swung to a profit in the most recent quarter, helped by gains in sales of life insurance. Weyerhaeuser gained 5.2 percent after reporting better quarterly earnings than analysts' forecasts. The timber and real estate company's earnings still sank 62 percent. Video game maker Take-Two Interactive Software Inc. rose 3.2 percent. The company reported a 65 percent drop in quarterly profits after the market closed Thursday, but Wall Street's analysts expected much worse.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast rewritten or redistributed. Copyright 2012 Yahoo! Inc. All rights reserved. /
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03-Feb-2012 6:26 PM
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Data Catapult Nasdaq to 11Year High
Is QE3 Over Before it Begins? Investors were so certain the sluggish U.S. economy was going to require more easymoney help from the Fed that they already came up with a name for the next emergency program: QE3. Volatility Vanishes on Wall Street... For Now Market prognosticators may have varied over whether stocks would rise or fall this year, but most of them agreed 2011's volatility would persist.
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estimates of 150,000 jobs created and marking the largest increase since April 2011. The private sector added 257,000 jobs, while the government shed 14,000, the data show. "Job growth was widespread in the private sector, with large employment gains in professional and business services, leisure and hospitality, and manufacturing," the Labor Department said in a statement. The unemployment rate fell to 8.3%, the lowest rate since February 2009, from 8.5% the month prior. One potential caveat is that the socalled labor force participation rate, which looks at the proportion of the total population in the labor force, fell 0.3-percentage points to 63.7%, the lowest level since 1983, according to data compiled by FOX Business. The change was at least partially due to a revision in the methodology the Labor Department uses in its calculations, but economists say it does raise questions about potential workers falling completely out of the jobs market. "This is unquestionably a positive report in nearly every way," Dan Greenhaus, chief global strategist at BTIG, wrote in an e-mail to clients. Barclays Capital, which struck a similarly optimistic tone in a research note published after the report was released still cautioned that "January is a notoriously volatile month that is subject to relatively large seasonal adjustments." The labor market has been slowly recovering after being thrashed during the financial crisis. The unemployment rate peaked in October 2009 at 10% and policymakers from across the board have said they are frustrated with the rate of improvement. Indeed, speaking before a the House Budget Committee on Thursday, Federal Reserve Chairman Ben Bernanke described the central bank's dissatisfaction with the progress. The Fed has pushed down hard on the economic accelerator, knocking interest rates down to historic lows, unleashing two rounds of enormous asset buying and taking other, more technical, measures. "An easy argument could be made that monetary policy, which has been extraordinarily accommodative, is beginning to show through in the broad economic data," Greenhaus wrote. In fact, fed fund futures, which are a gauge of public expectations of the Fed's moves, show a 64% chance of a 0.5-percentage point hike in mid2014, up from a 46% chance before the data, according to Dow Jones Newswires. The Fed has previously said it will hold rates at extraordinarily low levels until 2014. A report from the Institute for Supply Management showed the U.S. services sector expanding at the swiftest pace since last February. The ISM's non-manufacturing gauge hit 56.8 in January from 53 the month prior, easily besting estimates for no change. A separate report from the Commerce Department showed factory orders jumping 1.1% in December, slightly slower than the 1.5% economists were calling for. Manufacturing in Great Britain unexpectedly picked up steam in January from December. The country's PMI gauge rose to 56 from 54, compared to expectations of 53.5.
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The report "has buoyed hopes that the U.K. will skirt around another recession," David Jones, chief market strategist at London-based IG Index wrote in an e-mail. The European country, while not a member of the euro currency bloc, has still been weighed down by the continent's debt crisis. The euro gained 0.15% to $1.3164, while the U.S. dollar fell 0.08% against a basket of six world currencies tracked by the dollar index. Commodities markets were mixed. The benchmark crude oil contract traded in New York rose $1.54, or 1.5%, to $97.84 a barrel. Wholesale RBOB gasoline jumped 1.6% to $2.914 a gallon. In metals, gold fell $19.00, or 1.1%, to $1,740 a troy ounce. Foreign Markets European blue chips climbed 1.5%, the English FTSE 100 rose 1.8% to 5,901 and the German DAX gained 1.7% to 6,767. In Asia, the Japanese Nikkei 225 slipped 0.51% to 8,832 and the Chinese Hang Seng rose 0.08% to 20,757.
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Dow at 4-year high, Nasdaq hits 11-year high

By Hibah Yousuf @CNNMoneyMarketsFebruary 3, 2012: 4:30 PM ET
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Micron CEO Steve Appleton dies in plane crash Dow at 4-year high, Nasdaq hits 11-year high New York sues banks over foreclosures Stealth jobs boom: 6 months, 2 million jobs Big drop in unemployment rate for blacks
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NEW YORK (CNNMoney) -- U.S. stocks rallied Friday, as investors cheered a much stronger-than-expected jobs report. The Dow Jones industrial average ( INDU) gained 157 points, or 1.2%, the S&P 500 ( SPX) added 19 points, or 1.5%, and the Nasdaq composite ( COMP) increased 46 points, or 1.6%.
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% Change 1.23% 1.61% 1.46% 6.79%



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The rally pushed pushed the Dow, up more than 5% in 2012, to its highest level since May 2008. The Nasdaq, up more than 11% for the year, climbed to its highest level since December 2000. The S&P 500 has gained almost 7% this year, and finished at a six-month high.
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The rally was sparked by the Labor Department's monthly jobs report, which showed that the U.S. economy added 243,000 jobs in January, far exceeding expectations. The unemployment rate dropped to 8.3%, the lowest since February 2009. Economists surveyed by CNNMoney had expected the government to report an increase of just 130,000 jobs in January. The unemployment rate was expected to rise to 8.6%. Check the unemployment rate in your state Economists had expected a slowdown in post-holiday hiring, considering that about 40,000 temporary couriers were hired for the holidays alone..
03-Feb-2012
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"The jobs data blew away market expectations," noted Marc Chandler, global head of currency strategy at Brown Brothers Harriman, calling it a "monster" jobs report. "This coupled with other recent reports for January, show the year has begun off on a firm note," he added. Meanwhile, investors were also on the lookout for an official agreement on a debt-reduction plan and a second bailout for Greece. The deal is expected to be near, but negotiations are likely to continue thorough the weekend. U.S. stocks ended mixed Thursday as investors digested a cautious economic outlook from the chairman of the Federal Reserve. Economy: Factory orders for December rose 1.1%, slightly below expectations. The January installment of the ISM Services Index hit 56.8, surpassing economists' expectations for 53.1, and up sharply from the prior month. Companies: Financial stocks were big gainers in Friday's rally, with Bank of America's ( BAC, Fortune 500) 5% spike leading the Dow's gains. Morgan Stanley ( MS, Fortune 500), Citigroup ( C, Fortune 500) and Goldman Sachs ( GS, Fortune 500) were all up between 3% and 5%. Shares of Genworth Financial ( GNW, Fortune 500) soared 14% after the mortgage insurer swung to a fourth-quarter profit. Tyson Foods ( TSN, Fortune 500) shares rose after the company reported better-than-expected earnings and issued slightly upbeat guidance. Estee Lauder ( EL, Fortune 500) reported a 15% profit increase for its fiscal second quarter to $597 million, but its stock tumbled as the company's guidance for the current quarter came in short of analyst expectations. Shares of Gilead Sciences ( GILD, Fortune 500) spiked after the company posted fourth-quarter earnings that rose almost 6% from a year ago. Edwards Lifesciences' ( EW) stock dropped as earnings fell and the company gave a lackluster forecast for the current quarter. Zynga ( ZNGA) shares continue to rise, after Facebook's IPO revealed the gamemaker accounted for 12% of its revenue in 2011. Facebook IPO shrinks private trading market Research in Motion ( RIMM) shares dipped after the BlackBerry-maker said it will give its tablet, the BlackBerry PlayBook, out to Android developers in exchange for their apps. Trading in shares of Micron Technology ( MU, Fortune 500) was halted after the company announced that its CEO and chairman Steve Appleton died Friday morning in a small-plane crash in Boise. Currencies and commodities: The dollar slipped against the euro and the British pound, but rose versus the Japanese yen. Oil for March delivery rose $1.48 to settle at $97.84 a barrel. Gold futures for April delivery fell $19 to settle at $1,736.80 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.95% from 1.82% late Thursday. World markets: European stocks ended sharply higher. Britain's FTSE 100 ( UKX) rose 1.8%, while the DAX ( DAX) in Germany jumped 1.7% and France's CAC 40 ( CAC40) rose 1.5%. Asian markets ended mixed. The Shanghai Composite ( SHCOMP) rose 0.8%, while the Hang Seng ( HSI) in Hong Kong was flat and Japan's Nikkei ( N225) slipped 0.5%.

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The Hindu : Business / Markets : Realty, capital goods stocks push Sensex... http://www.thehindu.com/business/markets/article2865767.ece?homepage...
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Realty, capital goods stocks push Sensex up 102 points
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The Hindu The Bombay Stock Exchange benchmark, Sensex, which had gained over 741 points in the last four sessions, on Monday rose another 102.35 points. File photo
The Bombay Stock Exchange benchmark Sensex on Monday registered gains for the fifth straight session, risin over 102 points as realty and capital goods stocks led the rally on continued buying by funds, amid firm trend in Asian region. Sensex, which had gained over 741 points in last four sessions, rose another 102.35 points, 0.58 per cent, to 17,707.31 after touching the days high of 17,829.72 a level last seen on October 28, 2011. Similarly, the National Stock Exchange index, Nifty rose 35.80 points, or 0.67 per cent to 5,361.65 after shuttlin between 5,390.05 and 5,327.25. Among the realty stocks, DLF shot up by 2 per cent, DB Realty by 12.03 per cent, Unitech by 13.08 per cent and HDIL by 4.34 per cent. Brokers said positive cues from other Asia bourses, which were up following encouraging U.S. jobs data, and continued capital inflows by FIIs boosted trading sentiments. However, there was profit-booking in select counters, which trimmed early gains. They also said that the dismissal of a petition by the special court to investigate Home Minister P. Chidambara the 2G spectrum allocation scam supported positive sentiment. Major gainers included Larsen and Toubro, BHEL, Siemens, SBI, ICICI Bank, HDFC Bank, Bajaj Auto, Maruti Suzuki, Tata Motors, Mahindra and Mahindra, Hindalco, Sterlite Industries and Cipla India. Keywords: Sensex, BSE, Nifty, NSE
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06-Feb-2012 9:46 AM
The Hindu : Business / Markets : Sensex up 123 points in late buying amid ...
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Sensex up 123 points in late buying amid firm European markets
PTI
PTI Gains were led by metals, realty, auto, banking, consumer durables, power and IT stocks. File photo
After dull trading, the BSE Sensex spurted in late buying to close with gains for the second successive day on Thursday up 123 points at 17,830.75 on sustained FII inflows as European markets firmed ahead of a deci to ease euro-zone debt crisis, especially in Greece. Gains were led by metals, realty, auto, banking, consumer durables, power and IT stocks. Small-cap and mid-c equities were also in good demand. However, refinery, capital goods and healthcare counters saw declines. Sudden buying momentum was seen during the afternoon session as positive openings in European markets a investor sentiments, said Shanu Goel, Research Analyst at Bonanza Portfolio. Global developments will continue to play crucial role in the next few sessions and a cautious approach is recommended as the stock market has become highly volatile, she added. The BSE 30-scrip Sensex opened lower and moved between 17,879.46 and 17,609.43. Finally, it ended the day a 17,830.75, up 123.43 points or 0.70 per cent. The NSE 50-share index Nifty gained 44.20 points or 0.82 per cent to finish at 5,412.35. FIIs bought shares worth Rs 384.24 crore yesterday as per provisional data from the stock exchanges. They hav picked up shares worth Rs 6,692.01 crore in first six trading sessions this month. Asian stocks ended mixed. Key indices in Hong Kong, Japan and Singapore eased by up to 0.15 per cent, while in China, South Korea and Taiwan gained up to 0.54 per cent. In Europe, key markets -- CAC (France), DAX (Germany) and FTSE (the UK) -- were up nearly one per cent in t afternoon trade. Keywords: Bombay Stock Exchange
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09-Feb-2012 7:46 AM
The Hindu : Business News : Sensex back at 18-K level after 6 months
Business
Sensex back at 18-K level after 6 months
PTI
The BSE benchmark Sensex on Wednesday regained the 18,000-level after over six months by adding 354 poin sustained buying by funds amid hopes that easing inflation will lead to low interest rate regime, and a firm tren global markets. The BSE 30-share index, which gained nearly 100 points in last two trading sessions, shot up by 353.84 points, 1.98 per cent to 18,202.41 level last seen in August. Similarly, the NSE 50-scrip index Nifty regained the 5,500 mark by jumping 115.90 points, or 2.14 per cent to 5,531.95. The gains were led by auto, capital goods, banking and realty sectors. Brokers said trading sentiment was boosted as inflation has reached 2-year low, strengthening investor hopes t the Reserve Bank may begin to cut lending rates. Besides, they added, a strong trend in the global markets on indications that a solution to Greeces debt worrie in sight bolstered investor confidence. FIIs, main market movers, have been picking Indian stocks and bought shares worth Rs. 1,030.12 crore on Tue as per provisional data from the stock exchanges. Auto major Tata Motors hit a record high by adding 6.91 per cent, following Q3 earnings. Maruti Suzuki rose 3 per cent and Mahindra and Mahindra by 2.57 per cent. The realty sector index shot up 5.01 per cent to 2,030.73, followed by capital goods index up 4.01 per cent t 10,871.29. The major gainers were Infosys, TCS, Bajaj Auto, Hero MotoCorp, BHEL, L&T, DLF, SBI, ICICI Bank, BHFC B Tata Power, Tata Steel and Bharti Airtel. Keywords: Sensex close
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Rebound Rally: Data, Greek Optimism Shoot Stocks Higher

Written By Adam Samson Published February 16, 2012 FOXBusiness
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FOX Business: The Power to Prosper The markets charged higher on Thursday on the heels of the worst session of the year for the Dow as traders cheered upbeat data on the U.S. economy and encouraging headlines from Europe. Today's Markets The Dow Jones Industrial Average rose 123 points, or 0.96%, to 12904, the S&P 500 climbed 14.8 points, or 1.1%, to 1358 and the Nasdaq Composite gained 44 points, or 1.5%, to 2960. On a broad level, materials, financial, energy and technology companies performed the best. Indeed, looking at a cross-section of the Dow, both Microsoft (MSFT: 31.28, +1.24, +4.11%) and Bank of America (BAC: 8.09, +0.31, +3.98%) soared 4%. DuPont (DD: 50.53, +1.07, +2.16%), Hewlett-Packard (HPQ: 29.88, +0.76, +2.63%) and American Express (AXP: 52.87, +1.35, +2.62%) all jumped more than 2%. Europe Stays in Focus
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Market participants are still closely eyeing developments out of Europe. European Union officials once again pushed back their decision on Greece's $169 billion bailout until Monday at the earliest. However, Reuters reported in the late morning that they may move to approve the bailout on Monday. Additionally, a separate report from Reuters said the European Central Bank plans on exchanging its Greek bonds this weekend as part of a plan to help the country lessen its debt load. The embattled country has a debt payment coming up on March 20, which it won't be able to make without the first tranche of rescue aid. A default of Greek debt, analysts have said, could imperil financial markets across the continent. Eurozone blue chips slipped 0.45%, shedding much heavier losses, as
http://www.foxbusiness.com/markets/2012/02/16/rebound-rally-data-greek-opti... 16-Feb-2012
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Greek Hopes Drive Dow Near 13K, Nasdaq Takes a Breather | Fox Business http://www.foxbusiness.com/investing/2012/02/17/greece-drives-dow-ne...
FOLLOW FOX BUSINESS Follow @foxbusiness 67.7K Written By Adam Samson, Matt Egan Published February 17, 2012 FOXBusiness Like 74477 likes. Sign Up to what your friends like.
MORE STORIES Money and Power: The Richest and Poorest U.S Presidents (Daily Finance) Let the IRS Help Pay fo Your Higher Education (Daily Financ REUTERS Print Email Share Comments Like 1 Tweet 22 Share RELATED STOCKS M 36.25 3 The Dow Jones Industrial Average climbed 45.56 points, or 0.35%, to 12949.64, the S&P 500 gained 3.17 points, or 0.23%, to 1361.21 and the Nasdaq Composite fell 8.07 points, or 0.27%, to 2951.78. The gains in the broader markets leave the Dow at its highest level since May 2008 and just 50 points away from the 13000 threshold, which carries psychological importance for investors. Continuing their strong start to 2012 amid growing economic hopes, all three major indexes landed in the green this week, marking their sixth weekly gain of the last seven. The latest bullishness comes as market participants are growing increasingly confident Greece will be able to avoid a default on its debt that analysts fear would deal a serious blow to the European financial system. In a significant development, the European Central Bank has FOX Business: The Power to Prosper Edging closer to the 13000 mark, the Dow finished the week with solid gains on Friday as Wall Street bets Greece will finally receive its long-awaited bailout, but the Nasdaq Composite failed to join the party. Today's Markets Linsanity Validates Cablevision MSG Spinof Strategy Report: MSG Time Warne Reach Truce Linsanity Explodes
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swapped some of its Greek bond holdings for new ones, according to a report by Dow Jones Newswires. This shows the central bank's commitment to helping Greece reduce its debt load and take broader actions to help control the eurozone debt crisis. Potentially, the ECB move could make way for a similar exchange by private creditors early next week. More importantly, perhaps, eurozone finance chiefs are expected to sign off on a $171 billion bailout package as early as Monday, according to reports. Still, the situation remains fluid and analysts note seemingly-secure deals have repeatedly fallen apart at the last minute in the past. European shares, which were broadly lower on Thursday, posted solid gains on the day. The Euro Stoxx 50, which tracks eurozone blue chips, rallied 1.2%, while the euro gained 0.08% to $1.3145. On the economic front, prices at the consumer level rose 0.2% in January from December, slightly less than the 0.3% increase economists forecast. Excluding the more volatile food and energy components, so-called prices were up 0.2%, which was in-line with expectations. The headline reading has jumped 2.9% from last year, while core prices are up 2.3%. Economists have been keeping a close eye on the inflation situation since the Federal Reserve has taken unprecedented measures to boost the economy and stave off a collapse of the financial since the crisis in 2008. However, such an aggressive monetary policy has the potential to stir inflation. Commodities markets were mixed on the day. Capping off its largest weekly gain of the year, crude oil jumped 96 cents a barrel, or 0.94%, to $103.60 -- its highest settle since May 10, 2011. In metals, gold dipped $2.30, or 0.13%, to $1,724.50 a troy ounce. Traders shed safe-haven U.S. Treasury bonds as they moved into riskier asset classes. The yield on the benchmark 10-year note climbed 0.042 percentage points to 2.012%. Yields on bonds move in the opposite direction of prices. U.S. markets are closed for a holiday on Monday. Corporate Movers Time Warner Cable (TWC: 77.66, +0.62, +0.80%) and New York Knicks parent MSG (MSG: 32.85, +0.98, +3.08%) resolved a dispute that has left much of New York City blacked
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out from the MSG Network in 2012, The New York Times reported. The news sent MSG shares to all-time highs. Macy's (M: 36.25, +0.95, +2.69%) CEO Terry Lundgren unveiled plans to hire 4,000 full-time employees this year, Reuters reported. Foreign Markets European blue chips rallied 1.2% to 2520.31, the English FTSE 100 gained 0.33% to 5,905 and the German DAX jumped 1.4% to 6,848. In Asia, the Japanese Nikkei 225 climbed 1.6% to 9,384 and the Chinese Hang Seng rose 1% to 21,492. RECOMMENDED STORIES The 8 Beers Americans No Longer Drink The 100-mph speeding ticket Private Equity and the Political Left Greek Hopes Boost Dow, Nasdaq Lags Behind Police Seize $6T in Fake U.S. Treasury Bonds in Switzerland In Obama's Refinancing Plan, Homeowners to Pay a Premium SHARE THIS ARTICLE 1 Like 22 Twee 0 NEWSLETTER SIGNUP Sign up for free e-mail news alerts from FoxNews.com and FoxBusiness.com. Enter Your Email Address ALSO ON THE WEB
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Stocks close higher on positive economic data - Feb. 23, 2012
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Stocks close higher on positive economic data

By Catherine Tymkiw February 23, 2012: 4:33 PM ET
24 points, or 0.8%. 79% of fund managers didn't beat the S&P While worries about Greece continue to loom in the background, investors were encouraged by a reading on Germany's business conditions that rose for a fourth straight month in February -- the highest level since July, according to the Munichbased Ifo institute. Meanwhile, the European Commission said Thursday that it expects the eurozone will likely face a mild recession in 2012, thanks to negative growth in Greece, Portugal, Spain and four other countries. Art Hogan, managing director at Lazard Capital Markets, said markets are 'more resilient' in the face of negative economic data now than in 2011, when stocks had wild 100-point swings on the tiniest negative (or positive) headline. In the United States, the number of workers filing for unemployment in the United States was 351,000, the Labor Department
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NEW YORK (CNNMoney) -- U.S. stocks closed higher Thursday, as investors digested better-than-expected economic news. A strong report on Germany's economy and a decent reading on U.S. unemployment helped propel all three indexes up for most of the trading day. The indexes added to their already impressive gains. The Dow is up 6% from the start of the year. The S&P 500 has gained nearly 8%, and the Nasdaq has jumped 13%. The Dow Jones industrial average (INDU) closed up 46 points, or 0.4%. IBM (IBM, Fortune 500), Travelers (TRV, Fortune 500) and Disney (DIS, Fortune 500) were among the biggest gainers on the Dow and helped offset losses from HewlettPackard (HPQ, Fortune 500). As PC sales swooned, HP's profit fell by a dramatic 44% and sales sank 7% in its latest fiscal quarter, which ended on Jan. 31. The S&P 500 (SPX) added 6 points, or 0.4%, and the Nasdaq (COMP) composite edged up
http://money.cnn.com/2012/02/23/markets/stocks/index.htm?iid=HP_LN
23-Feb-2012
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reported before markets opened. That's slightly better than analysts' forecasts and unchanged from the week prior, which was revised up from 348,000. U.S. stocks drifted lower Wednesday, amid doubts over the latest bailout for Greece and some negative indicators out of China and Europe. Greece secured additional bailout funds earlier this week that will help it avoid default in the immediate term. However, analysts warn that the nation will eventually need more support. Greece's fate also depends on whether private-sector investors agree to a historic debt-reduction plan. "We know that story's not over, but the ECB has eliminated a Lehman event," Hogan said, referring to the European Central Bank's long-term refinancing operation that has pumped billions of euros worth of 3-year loans into the banking system, helping quell contagion worries. Following a parliamentary vote Thursday, the Greek government is expected to go ahead as planned and announce its proposal to swap existing debt with new bonds on Friday. European stocks ended Thursday mixed. Britain's FTSE 100 (UKX) ended up 0.4%, while France's CAC 40 (CAC40) was flat and the DAX (DAX) in Germany lost 0.5%. Asian markets ended mixed. The Shanghai Composite (SHCOMP) rose 0.3% and Japan's Nikkei (N225) added 0.4%, while the Hang Seng (HSI) in Hong Kong fell 0.8%. : T-Mobile, owned by Germany's Deutsche
Telekom (DT), said "not carrying the iPhone led to a significant increase in contract deactivations in the fourth quarter of 2011." The company lost 526,000 customers during the quarter, compared to adding 126,000 during the third quarter of 2011. AT&T CEO pay docked $2 million for TMobile debacle Meanwhile, AT&T's (T, Fortune 500) board cut CEO Randall Stephenson's 2011 pay by $2 million, as a direct response to the failed T-Mobile takeover bid. Sears Holdings (SHLD, Fortune 500) reported earnings that fell far short of forecasts. Shares of the retailer spiked after the company said it planned to sell of some of its stores in an effort to raise $400 million to $500 million. The retailer -- which also owns Kmart as well as the Kenmore, Craftsman and Lands' End brands -- has been struggling for months. Target (TGT, Fortune 500) reported betterthan-expected fourth-quarter earnings, and said it expects profit growth of 3% to 8% this
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year. Apple (AAPL, Fortune 500) holds its shareholder meeting in Cupertino, Calif., on Thursday. and commodities: The dollar fell against the euro, the British pound and the Japanese yen. Fear of Iran is inflating gas prices Oil for April delivery edged up $1.55 to $107.83 a barrel. Oil prices have climbed more than 5% in the last week, and are inflating gas prices too, amid rising nervousness over Iran's nuclear program. The price of regular unleaded gasoline jumped 3.3 cents overnight to $3.61 a gallon, according to motorist group AAA. Gold futures for April delivery rose $15 to $1,786.30 an ounce. : The price on the benchmark 10-year U.S. Treasury increased slightly, pushing the yield down to 1.995% from 2% late Wednesday. -- CNN's Elinda Labropoulou contributed from Athens.
First Published: February 23, 2012: 9:46 AM ET
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REUTERS Print Email Share Comments (1) Like Tweet 1 Share RELATED STOCKS CAT 110.2 The Dow Jones Industrial Average climbed 70.6 points, or 0.55%, to 12908, the S&P 500 gained 13.3 points, or 0.98%, to 1366 and the Nasdaq Composite rose 34.7 points, or 1.2%, to 2970. The rally on the day was quite broad, with several sectors posting big gains. Some of the best performers could be found within the materials, industrial, healthcare, technology and financial sectors. Meanwhile, safety plays like utilities and consumer staples rose more modestly. Volatility plummeted more than 5% and traders kept moving out of safe-haven assets. Indeed, the yield on the 10-year note rose 0.043percentage point to 2.014%. Out of the blue chips, Alcoa (AA: 9.77, +0.22, +2.30%), the aluminum giant, Caterpillar (CAT: 110.28, +2.00, +1.85%), the world's biggest maker of heavy machinery and chemical-maker DuPont (DD: 51.08, +0.85, +1.69%) posted the biggest gains. On the other end of the spectrum, McDonald's (MCD) shares struggled, shedding 3% and paring more than 20 points off of FOX Business: The Power to Prosper Wall Street posted solid gains for the second day in a row, with the broad S&P 500 jumping nearly 1%, amid optimism Greece may be nearing a conclusion to the months long debt-exchange saga. Today's Markets
CATERPILLAR ... +2.0 DD 51.08
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the Dow's overall performance. All Eyes on Greece The markets have been unusually volatile this week for what has been a particularly tame year thus far. The Dow shed more than 200 points on Tuesday, just to rise for two days. Market participants have been paying very close attention to the ongoing drama in Greece. At least 75% of private creditors holding Greek sovereign debt have signed on to a bond exchange that will cut the value of their holdings by more than half, according to multiple media reports. Corralling sufficient interest is critical for two reasons: it is a key condition on a rescue by European lenders and it will help cut the country's public debt level down. There have been fears for months that Greece would default, most recently, on its payment that comes due on March 20. Still, the situation remains very fluid, and is subject to change at the last minute, analysts say. Also on the European front, the European Central Bank and Bank of England both held their key interest rates unchanged as economists expected. The BoE also said it is holding the size of its asset-purchase program steady. Both central banks have to balance the need to keep their economies afloat amid strong headwinds with the risk of inflation. The euro jumped 0.82% to $1.3257, while the U.S. dollar slumped 0.48% against a basket of six world currencies tracked by the dollar index. The Euro Stoxx 50 jumped 2.2%. The number of individuals filing for first-time jobless benefits unexpectedly rose by 8,000 to 362,000 last week. Economists expected claims to hold steady an initially-projected 351,000. A report on Wednesday showed the the private sector added slightly more jobs than expected last month ahead of the closely-watched monthly employment report from the Labor Department that is on tap for Friday. Commodities market were modestly higher, helped by a weak dollar and rallying equities. The benchmark crude oil contract traded in New York climbed 42 cents, or 0.4%, to $106.58 a barrel. Wholesale New York Harbor RBOB gasoline rose 0.81% to $3.314 a gallon. In metals, gold gained $14.80, or 0.88%, to $1,699 a troy ounce. Corporate News
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McDonald's (MCD: 96.96, -3.22, -3.21%) said its global comparable sales jumped 7.5% in February, lighter than the 7.7% analysts were expecting. Foreign Markets European blue chips jumped 2.2%, the English FTSE 100 gained 1.2% to 5860 and the German DAX soared 2.5% to 6835. In Asia, the Japanese Nikkei 225 rallied 2% to 9675 and the Chinese Hang Seng rose 1.3% to 20723. RECOMMENDED STORIES Wall Street Rebounds on Greek Optimism, Payroll Data Busting One Myth Behind the Unemployment Rate Terrible Tuesday: Wall Street Walloped in Worst Slide of 2012 Unions Killed the Twinkie How Hiring a Virtual Assistant Saved My Business Ten States That Cannot Pay Their Bills SHARE THIS ARTICLE 0 Like 1 Tweet 0 NEWSLETTER SIGNUP Sign up for free e-mail news alerts from FoxNews.com and FoxBusiness.com. Enter Your Email Address ALSO ON THE WEB
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Snapping three-session losing streak, the BSE benchmark Sensex on Friday rallied the most in over three week spurt 358 points on funds buying in bluechips at lower levels amid firm global markets. The Sensex, which had lost 2.8 per cent in last three trading sessions on poor performance by the ruling Congre state elections, bounced back by 357.72 points, or 2.09 per cent to 17,503.24. It made the largest single-day gain since February 15 on the back of banking and heavy industries stocks amid h that the Reserve Bank might cut lending rates at its monetary policy review next week. The broad-based National Stock Exchange index Nifty recorded gained 113.10 points, or 2.17 per cent at 5,333.5 A firm trend in the Asian region and higher openings in Europe boosted sentiment on reports that debt-ridden Greece completed debt swap and encouraging jobs report in the U.S. Of the BSE 30-scrip index, 23 stocks closed with gains. However, 12 of the 13 sectoral indices, barring FMCG, gained up to 4.69 per cent. Jindal Steel, Tata Steel, ICICI Bank, SBI, HDFC Ltd and Larsen and Toubro were the major gainers. The metal index gained the most, up 4.69 per cent at 11,499.68, followed by capital goods 3.75 pc at 10,188.8 Keywords: Bombay Stock Exchange
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Written By Adam Samson Published March 30, 2012 FOXBusiness
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FOX Business: The Power to Prosper A brighter outlook for the U.S. economy and calming tensions over Europe's debt crisis whetted traders' risk appetite, sending Wall Street surging in its best first-quarter performance in 14 years. Today's Markets The Dow Jones Industrial Average gained 66.2 points, or 0.5%, to13212, the S&P 500 climbed 5.2 points, or 0.37%, to 1408 and the Nasdaq Composite dipped 3.8 points, or 0.12%, to 3092. The S&P 500 soared 12% in the first quarter, while the Dow zoomed 8.1% to the upside. The tech-heavy Nasdaq posted a better performance, soaring some 18.7% in the best start to a year since 1991. All three are up for two quarters in a row, rising more than 20% each. Indeed, the blue chips have tacked on 2,299 points in that time.
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In a sign of traders' appetite for risk, the yield on the 10-year Treasury jumped 0.34-percentage point to 2.218% as they fled the shelter of U.S. debt. Meanwhile, volatility plunged by one third as tracked by the Chicago Board of Options Exchange's VIX, sometimes referred to as Wall Street's fear gauge.
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Out of the major sectors, financials performed the best by far. In fact, JPMorgan Chase (JPM: 45.98, +0.31, +0.68%) and Bank of America (BAC: 9.57, +0.04, +0.42%) were the best performers on the Dow, while American Express (AXP: 57.86, -0.03, -0.05%) came in fourth. Technology stocks had a particularly strong showing as well, helped by rallying shares of titans like Apple (AAPL: 599.55, -10.31, -1.69%) and Microsoft (MSFT: 32.26, +0.14, +0.42%).
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A stream of strong data on the U.S. economy, the world's biggest, has played a major role in the rally, although several key reports this week came in beneath Wall Street's optimistic expectations. The markets have also been helped by a calming of fears over the European debt crisis that had roiled the markets during the summer of 2011. Indeed, sovereign debt yields have fallen significantly in countries like Spain and Italy, and Europe's financial system has gotten a boost from cheap loans by the European Central Bank. Still, some analysts wonder what will happen when global central banks and big players like Germany begin to ease off of their pro-growth policies. "Investors can look back on the past three months with a degree of satisfaction, after the impressive run higher for markets," Chris Beauchamp, a market analyst at London's IG Index wrote in an e-mail. "However, the future looks less assured." On that front, eurozone finance ministers agreed on Friday to temporarily boost the firepower of the 17-member currency bloc's rescue funds. The so-called firewall that is designed to help mitigate the effects of the debt crisis in Greece and other areas in the periphery will now hit nearly $934 billion in total. Consumer sentiment jumped during the end of March. The final reading of the Reuters/University of Michigan's gauge rose to 76.2 from a preliminary reading of 74.3. Economists were looking for 74.7.
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Sentiment is now at its highest level since February 2011. A separate report showed U.S. consumer spending increased by 0.8% in February from January, quicker than the 0.6% economists expected, and the biggest increase since July. Meanwhile, personal income edged higher by 0.2%, which was weaker than the 0.4% economists forecast. A key question among analysts has been how a sudden lurch higher in gasoline prices at the pump is affecting consumers' spending habits. A gallon of regular at the pump costs $3.93 on average nationwide, which is 32 cents more than drivers paid last year, according to the AAA Fuel Gauge Report. Another report showed manufacturing in the Midwest region expanded at a slightly slower pace in March than in the month prior. These data from the Institute for Supply Management come ahead of the more closely followed national report. Foreign Markets European blue chips jumped 1%, the English FTSE 100 gained 0.46% to 5768 and the German DAX rallied 1% to 6947. In Asia, the Japanese Nikkei 225 fell 0.31% to 10084 and the Chinese Hang Seng dipped 0.26% to 20556.
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FOX Business: The Power to Prosper After posting the best first quarter in more than a decade, the markets continued on their upward march as a strong reading on the U.S. manufacturing sector reinforced traders' bullish sentiment. Today's Markets The Dow Jones Industrial Average climbed 52.5 points, or 0.4%, to 13264, the S&P 500 rose 10.4 points, or 0.74%, to 1419 and the Nasdaq Composite gained 28.1 points, or 0.91%, to 3120. The energy and basic materials sectors posted the best performance on the day on the back of a strong showing in futures markets. Consumer staples, financials and technology companies performed well too, with the former hitting an all-time high as tracked by the Consumer Staples Select Sector SPDR (XLP: 34.35, +0.27, +0.79%).
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The global economy is expected to take the spotlight during the holidayshortened trading week, with key reports on tap every day leading up to the monthly employment report from the Labor Department. The Institute for Supply Management's closely-followed gauge of U.S. manufacturing activity rose to 53.4 in March from 52.4 in February, suggesting the sector is expanding at a quicker pace. Meanwhile, U.S. construction spending slid 1.1% in February from the month prior, the biggest fall since July 2011. Economists expected an increase of 0.6%. "This may not be a boom, but it is a broad-based manufacturing
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expansion, with fifteen of eighteen industries reporting growth," IHS Global Insight Chief U.S. Economist Nigel Gault wrote in a research note following the report. Commodities were sharply to the upside after the strong ISM report lifted traders' outlook on demand for crude. Oil traded in New York jumped $2.21, or 2.2%, to $105.23 a barrel. Wholesale New York Harbor gasoline rallied 2.2% to $3.382 a gallon. In metals, gold gained $7.80, or 0.47%, to $1,680 a troy ounce. Manufacturing activity in China unexpectedly picked up steam in March from the month prior, official data released on Monday showed. The report helped ease tensions that the world's No. 2 economy may be in for a "hard landing." Still, the optimism was tempered by a private survey from HSBC that showed a weakening in the sector. Economists said the official data tend to get a positive uplift from seasonal factors, making it particularly challenging to interpret. Meanwhile, manufacturing in the eurozone contracted for the eight month in a row in March, according to a closely-followed survey by Markit. The data showed the 17-member currency bloc's two biggest economies weakening for the month. Germany saw its first drop of 2012, while activity in France shrunk at its swiftest pace since June 2009. Eurozone manufacturers suffered a miserable March, with a renewed downturn in production wiping out marginal gains seen in the first two months of the year," Markit Chief Economist Chris Williamson said in a statement. "Prospects for April also look poor, with companies reporting steeper rates of decline for both new orders and backlogs of work." Corporate News Coty offered to buy Avon Products (AVP: 22.70, +3.34, +17.25%) for $23.25 a share, or $10 billion, which represents a roughly 20% premium on the cosmetic seller's closing price last week. Foreign Markets European blue jumped fell 0.96%, the English FTSE 100 soared 1.9% to 5875 and the German DAX rallied 1.6% to 7057. In Asia, the Japanese Nikkei 225 edged higher by 0.26% to 10110 and the Chinese Hang Seng slumped 0.16% to 20522.
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Dow Lifted by Strong Earnings, But Apple Weighs on Nasdaq | Fox Business http://www.foxbusiness.com/markets/2012/04/24/dow-lifted-by-strong-ea...
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By Adam Samson Published April 24, 2012 | FOXBusiness
FOX Business: The Power to Prosper The Dow got a boost after several blue chips posted solid quarterly earnings and IBM hiked its dividend, but the Nasdaq came under pressure as shares of tech heavyweight Apple stumbled. Today's Markets The Dow Jones Industrial Average rose 73.4 points, or 0.58%, to 13002, the S&P 500 gained 5 points, or 0.37%, to 1372 and the Nasdaq Composite dipped 8.9 points, or 0.3%, to 2962. On the day, the industrial and financial sectors performed the strongest, while technology and basic materials shares underperformed. While traders were keeping an eye on Europe on Tuesday following a steep loss in the prior session, attention is shifting back to the U.S., with a slew of earnings and data on the docket. Results released by three blue chips were generally seen as solid, as has been a trend so far during the first-quarter earnings season. "A majority of companies are surpassing expectations handily," said Lawrence Creatura, a portfolio manager at Federated Investors, which manages $370 billion in assets. Creatura said the "bar was set too low" across the board, but "a broad menu of concerns" may keep analysts from raising it markedly in the current quarter. 3M (MMM) revealed first-quarter earnings of $1.59 a share on revenue of $7.5 billion, beating expectations of $1.49 a share on $7.49 billion. The Dow component also boosted the lower end of its full-year earnings forecast by ten cents. AT&T (T) posted a first-quarter profit of 60 cents a share on sales of $31.8 billion. Analysts expected the telecommunications giant to earn 57 cents on $31.85 billion. United Technologies (UTX) unveiled earnings on continuing operations of $1.31 a share, besting expectations of $1.20. However, the diversified manufacturer's sales came in at $12.42 billion, weaker than the $12.71 billion expected. IBM (IBM) also boosted its dividend by a dime to 85 cents. Big Blue's board also authorized $7 billion to use for a stock buyback. Apple (AAPL), the world's biggest company by market capitalization, is set to report after the closing bell. Market participants also had a deluge of data to parse through. Sales of new, single-family homes fell to 328,000 in March from a sharply upwardly revised 353,000 the month before, according to a report by the Commerce Department. Economists expected a rise to 320,000 from an initially reported 313,000. Home prices in 20 major metropolitan areas fell 0.8% in February, on a non-seasonally-adjusted basis, according to a report by S&P/Case-Shiller. Prices fell 3.5% from the same month in 2011, a slightly bigger drop than the 3.4% expected. The housing market has struggled to recover after getting pummeled during the economic downturn as demand has remained tepid,
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Dow Lifted by Strong Earnings, But Apple Weighs on Nasdaq | Fox Business http://www.foxbusiness.com/markets/2012/04/24/dow-lifted-by-strong-ea...
supply has remained high and credit conditions have remained tight. Also on the economic front, the Conference Board's consumer confidence gauge fell to 69.2 in April from a downwardly revised 69.5 in March. The reading was expected to fall to 69.7 from an initally reported 70.2. The Federal Reserve also begins its two-day policy meeting on the day, with a statement expected on Wednesday. Elsewhere, commodities were mixed. Crude oil traded in New York rose 44 cents, or 0.43%, to $103.55 a barrel. Wholesale New York Harbor gasoline slipped 0.88% to $3.16 a gallon. In metals, gold climbed $11.20, or 0.69%, to $1,643 a troy ounce. Foreign Markets European blue chips surged 1.8%, the English FTSE 100 gained 0.78% to 5666 and the German DAX rallied 1% to 6590. In Asia, the Japanese Nikkei 225 fell 0.78% to 9468 and the Chinese Hang Seng rose 0.26% to 20677.
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4/24/2012 11:52 PM
The Hindu : Business / Markets : Sensex snaps losing streak
http://www.thehindu.com/business/markets/article3348345.ece?css=print
Business Markets
Published: April 24, 2012 10:01 IST | Updated: April 24, 2012 23:00 IST
Sensex snaps losing streak

PTI
Snapping its two-day losing streak, the Bombay Stock Exchange benchmark index, Sensex, closed nearly 111 points higher at 17207.29 on Tuesday mainly on heavy buying in IT stocks, triggered by TCS's upbeat 2012-13 outlook. The Sensex resumed higher at 17154.75 and shot up further before ending at 17207.29, showing a rise of 110.61 points from its last close. Market players said TCS's impressive outlook for the current fiscal provided the much-needed impetus to the market. Led by TCS that gained 12.84 per cent, BSE IT index closed nearly 5 per cent higher. TCS contributed nearly over 95 points to the surge in Sensex. Other major IT stocks Wipro and Infosys closed up in the 2-4 per cent range. Other gainers from the Sensex pack were: Tata Power (2.54 per cent), Hero MotoCorp (2.30 per cent), Infosys (1.58 per cent), Hindalco (1.39 per cent), Tata Steel (1.24 per cent) and Sterlite (1 per cent). The NSE 50-share Nifty improved by 22.05 points to 5222.65. Out of the 30-share Sensex, 17 counters ended with gains, 12 finished with losses while one scrip remained unchanged. Keywords: Sensex, BSE, opening trade
Printable version | Apr 25, 2012 9:26:09 AM | http://www.thehindu.com/business/markets/article3348345.ece The Hindu
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4/24/2012 11:57 PM
Stocks: Blue chips take cue from earnings - Apr. 24, 2012
http://money.cnn.com/2012/04/24/markets/stocks/index.htm?iid=H_MKT...
By Hibah Yousuf @CNNMoneyMarkets April 24, 2012: 4:48 PM ET
NEW YORK (CNNMoney) -- U.S. stocks finished mixed Tuesday, with the Dow holding onto solid gains, while Netflix's disappointing outlook weighed down tech stocks. "Stocks are moving higher today on the back of decent earnings reports, but overall, I think investors are wondering whether the economic and market momentum that boosted stocks from last October through March is starting to fade," said Michael Sheldon, chief market strategist at RDM Financial Group. Two reports released early Tuesday showed the housing recovery is still on shaky ground. S&P/Case-Shiller reported another decline for home prices in February, and the U.S. Census reported that new-home sales dropped 7.1% in March. The Dow Jones industrial average ( INDU) rose 74 points, or 0.6%, boosted by better-than-expected earnings from AT&T ( T , Fortune 500) and 3M ( MMM, Fortune 500). The S&P 500 ( SPX) added 5 points, or 0.4%. Hershey ( HSY, Fortune 500), which surged to a 7-year high, and Baker Hughes ( BHI, Fortune 500) were among the top gainers. Both companies also topped first-quarter earnings estimates. The Nasdaq ( COMP) slid 9 points, or 0.3%, dragged lower by declines in big technology players including Netflix ( NFLX) and Apple ( AAPL, Fortune 500). Shares of Netflix tumbled almost 14% Tuesday, a day after the company posted a first-quarter loss and issued a weak outlook. Apple, the world's most valuable company, reported earnings after the market closed. Shares of the iPhone and iPad maker have been struggling lately, and finished Tuesday 13% lower since hitting an all-time high earlier this month. The stock spiked in after-hours trading after Apple's fiscal second-quarter earnings results blew past Wall Street's expectations. The company posted $39.2 billion in sales, nearly 60% increase from last year, while earnings nearly doubled to $11.6 billion. During the last two years, stocks have performed strongly during the first quarter, only to deteriorate into the summer before recovering again, noted Sheldon. While he remains positive on the market's outlook this year, he said Europe continues to be an issue. "Europe remains a mess," said Sheldon. "The question we're asking is, 'Does it get worse from here before it get better?'"
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4/24/2012 11:54 PM
China's hottest companies
The week began with a downward push on stocks, driven by European political uncertainty and signs of a slowdown in the Chinese economy. All three major U.S. indexes ended lower Monday. World markets: Some of the political worries in Europe cooled Tuesday, a day after the Dutch prime minister resigned due to the collapse of his governing coalition. Despite his resignation, an auction of nearly 2 billion in bonds by the Netherlands went well Tuesday, sending yields of the nation's benchmark bonds slightly lower. Spain, whose finances have also been a growing concern in recent weeks, also had a successful bond auction of nearly 2 billion. Its yields fell as well. European stocks closed higher. Britain's FTSE 100 ( while France's CAC 40 ( CAC40) climbed 2.3%. UKX) ticked up 0.8%, the DAX ( DAX) in Germany added 1%,
Asian markets ended mixed. The Shanghai Composite ( SHCOMP) and Hong Kong's Hang Seng ( above breakeven, while Japan's Nikkei ( N225) slid 0.8%.
HSI) ended slightly
Economy: Home prices hit yet another post-bubble low, according to the February reading of the S&P/Case-Shiller Home Price Index. Prices were down 3.5% from a year earlier, at their lowest level since November 2002. The data came in slightly worse than the 3.4% annual decline expected by economists surveyed by Briefing.com.
Will China's real estate bubble burst?
The U.S. Census reported that new-home sales dropped 7.1% in March to an annual rate of 328,000. Economists were expecting sales to come in at an annual place of 318,000. The March Consumer Confidence Index, which speaks to the public's degree of optimism, fell to 69.2 in April, from 70.2 the previous month. Economists were expecting a reading of 69.5. Companies: One of the busiest weeks for corporate results continued, with several heavyweights reporting first-quarter numbers. In addition to AT&T and 3M, Dow component United Technologies ( than-forecast rise in earnings. UTX, Fortune 500) also posted a better-
Texas Instruments' ( TXN, Fortune 500) quarterly earnings dropped sharply, marking the fourth consecutive quarter of falling profits, sending shares lower. Despite the recent performance, the company issued an upbeat outlook for growth.
Slowdown in China? Not for luxury brands
About a third of the companies in the S&P 500 have reported results, and more than 75% have exceeded analyst expectations, according to Thomson Reuters. In a typical quarter, a little over 60% of companies beat estimates. Meanwhile, shares of Big Lots ( BIG, Fortune 500) plunged more than 24% after the company revised its first-quarter outlook for U.S. same-store sales, a key measure for retailers, lower from its March forecast. Last month, the discount retailer estimated same-store sales would rise between 2% and 4% during the first quarter. Now, Big Lots said it expects sales to be "slightly negative." IBM ( IBM, Fortune 500) boosted its quarterly dividend 13% to 85 cents per share, marking the 17th straight year of increases. The company's board also approved a $7 billion share buyback program. Following Tuesday's closing bell, Chinese Internet giant Baidu ( BIDU) reported solid first-quarter financil results, but the company's second-quarter sales outlook was below expectations, sending shares lower. Currencies and commodities: The dollar lost ground against the euro and the British pound, but rose versus the Japanese yen. Oil for June delivery rose 44 cents to settle at $103.55 a barrel. Gold futures for June rebounded, gaining $11.20 to settle at $1,643.80 an ounce.
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4/24/2012 11:54 PM
Bonds: The price on the benchmark 10-year U.S. Treasury were lower, pushing the yield up slightly to 1.96% from 1.93% late Monday.
First Published: April 24, 2012: 9:47 AM ET
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FOX Business: The Power to Prosper A blockbuster earnings report from Apple boosted sentiment across Wall Street, sending the markets whizzing deep into positive territory. Today's Markets The Dow Jones Industrial Average gained 89.2 points, or 0.69%, to 13091, the S&P 500 rose 18.7 points, or 1.4%, to 1391 and the Nasdaq Composite soared 68 points, or 2.3%, to 3030. Apple, the world's biggest publicly-traded company by market capitalization, earned $11.6 billion in its fiscal second quarter on sales of $39.2 billion, easily beating analysts' expectations. The iPad-maker's shares, which had seen selling pressure over the previous 11 trading days, soared some 8.9% on Wednesday. The company makes up 29% of the closely-watched Nasdaq 100 index of non-financial companies and 4% of the S&P 500, according to Reuters, meaning moves can have an outsized affect on Wall Street as a whole. Overall, the technology sector performed the best on the day, followed by basic materials stocks. Indeed, the Nasdaq had its best day of the year.
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The yield on the 10-year Treasury bond jumped 0.026-percentage point to 1.989% as traders shed the safe-haven asset. In a sign of the breadth of the rally, more than 75% of the S&P 500 closed in the green and there were more than three trades in advancing shares for every one in declining shares on the New York Stock Exchange. Also on the earnings docket were results from two Dow heavyweights Boeing (BA: 77.08, +3.87, +5.29%) and Caterpillar (CAT: 103.44, 4.96, -4.58%). Caterpillar posted first-quarter earnings of $2.37 a share on revenue of $15.98 billion. Analysts were looking for $2.13 a share on $16.22 billion. The worlds biggest heavy machinery maker also said it expects to earn about $9.50 a share for the full year, weaker than consensus estimates of $9.54. Shares were down more than 2%, costing the Dow 38 points. Boeing unveiled first-quarter earnings of $1.22 a share on sales of $19.4 billion, handily beating expectations of 94 cents on $18.37 billion. The airplane maker also lifted its full-year forecast to a range of $4.15 a share to $4.35 from $4.05 to $4.25. Overall, first-quarter earnings season has been strong, analysts have said, boosting hopes that American firms may be able to dodge the malaise in Europe and slowing growth in China. The day was a busy one on the economic front as well. Equities had little response to the Federal Reserve's monetary policy statement that came largely in-line with expectations. The central bank reaffirmed its pledge to keep interest rates at extraordinarily low levels until late 2014, saying that global financial strains still pose a risk to the U.S. economy. It also largely brushed off inflation concerns, saying that while inflation has risen, it is still within or below target levels and expectations remain anchored. Separately, Fed officials increased their projections for 2012 economic growth and core inflation, and lowered their forecast for the unemployment rate. The projections also showed seven officials at the Federal Reserve expect the central bank to hike interest rates in 2014, up from five when projections were released in January. The Commerce Department reported orders for long-lasting goods plunged 4.2% in March, the biggest decline since January 2009 and a significantly steeper drop than the 1.7% expected. Excluding the transportation segment, orders were down 1.1%. Economists had been expecting a 0.5% gain. Energy futures were mixed after volatile trading following a mixed weekly inventory report from the Energy Department. Oil inventories rose by 3.98 million barrels last week, a bigger build than the 2.7 million that analysts expected. However, gasoline inventories tumbled 2.24 million barrels, a wider draw than the 900,000 expected. Crude oil traded in New York gained 57 cents, or 0.55%, to $104.12 a barrel. Wholesale New York Harbor gasoline dipped 0.11% to $3.16 a gallon. In metals, gold slid $1.50, or 0.09%, to $1,642 a troy ounce. Foreign Markets
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European blue chips rallied 1.7%, the English FTSE 100 rose 0.16% to 5719 and the German DAX soared 1.7% to 6705. In Asia, the Japanese Nikkei 225 climbed 0.98% to 9561 and the Chinese Hang Seng slumped 0.15% to 20646.
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FOX Business: The Power to Prosper The blue chips posted triple-digit gains in afternoon trading as strong data on the housing market and easing tensions about the eurozone political situation trumped ExxonMobils earnings miss. Today's Markets As of 2:45 p.m. ET, the Dow Jones Industrial Average climbed 122 points, or 0.94%, to 13213, the S&P 500 rose 9.6 points, or 0.69%, to 1400 and the Nasdaq Composite gained 23.5 points, or 0.77%, to 3052. The Nasdaq posted its best performance of the year on Wednesday, rallying 2.3%, on the back of strong earnings from technology titan Apple. Traders were paying close attention to two important economic reports on the day. Pending home sales, which are a forward-looking indicator, jumped 4.1% in March from the month prior, according to the National Association of Realtors. The index is also up 12.8% from the same month in 2011. New claims for unemployment benefits fell to 388,000 last week from an upwardly revised 389,000 the week prior, the Labor Department reported. Economists were expecting a drop to 375,000 from an initially reported 386,000. The four-week moving average, which helps smooth out volatility, rose to 381,750 -- the highest level seen since January 7. The weekly read has been rising slowly recently, raising concerns over the strength of the jobs market. However, the report from the Labor Department can be volatile, and is often subject to substantial revisions. Indeed, analysts at Nomura wrote in a note to clients that "the rise should not be taken as a sign that there is fundamental weakening in the labor market." In their view, the upward momentum is likely the result of "imperfect" seasonal adjustments. On the European front, Dutch Finance Minister Jan Kees de Jager said that a budget proposal, which garnered support from the majority parliament, would reduce the country's budget deficit sufficiently to keep it in-line with a eurozone fiscal pact, according to a report by Reuters. There were worries among analysts that a disagreement over the budget might put the country in breach of the agreement and knock the currency bloc back to the drawing board on a key measures aimed to reducing sovereign debt across the board. At the time it was rolled out, many analysts saw it as a key factor in pushing the European Central Bank to take moves to support the bloc's financial sector and debt market. Several major companies posted earnings on the day. ExxonMobil (XOM: 86.07, -0.78, -0.90%) revealed a first-quarter profit of $2.00 a share, weaker than the $2.09 analysts expected. The biggest U.S. oil companys revenue came in at $124.05 billion, also shy of the $124.76 billion forecast.
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United Parcel Service (UPS: 78.25, -1.40, -1.76%) posted first-quarter earnings of $1.00 a share on sales of $13.1 billion, missing estimates of $1.02 a share on $13.26 billion. The worlds biggest package delivery company also reaffirmed its full-year profit outlook of $4.75 to $5 a share. Commodities were broadly higher. Oil traded in New York rose 43 cents, or 0.41%, to $104.55 a barrel. Wholesale New York Harbor gained 0.87% to $3.18 a gallon. In metals, gold jumped $16.50, or 1%, to $1,659 a troy ounce. Foreign Markets European blue chips slipped 0.01%, the English FTSE 100 gained 0.52% to 5749 and the German DAX rose 0.53% to 6740. In Asia, the Japanese Nikkei 225 rose 0.01% to 9562 and the Chinese Hang Seng climbed 0.79% to 20810.
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Stocks Jump on Week Amid Solid Corporate Earnings | Fox Business
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Stocks Jump on Week Amid Solid Corporate Earnings

By Adam Samson Published April 27, 2012 FOXBusiness
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FOX Business: The Power to Prosper Wall Street posted a solid performance this week, with the major market averages all rallying more than 1% after several big-name companies posted solid quarterly results. Today's Markets The Dow Jones Industrial Average rose 23.7 points, or 0.18%, to 13228, the S&P 500 gained 3.4 points, or 0.24%, to 1403 and the Nasdaq Composite climbed 18.6 points, or 0.61%, to 3069. For the week, the Nasdaq jumped 2.3%, the the S&P 500 tacked on 1.8% and the Dow added 1.5%. Indeed, it was the best week for the Nasdaq since early February. The telecom sector performed the best overall, followed consumer discretionary and information technology shares. Apple (AAPL: 603.00, -4.70, -0.77%) was one of the earnings highlights on the week, posting blockbuster results that sparked a big rally on Wednesday. Several blue-chip companies unveiled better-thanexpected quarterly profits too, including: AT&T (T: 32.69, +0.25, +0.77%), 3M (MMM: 89.39, +0.07, +0.08%), Boeing (BA: 77.28, +0.29, +0.38%), and Merck (MRK). While earnings have been strong, there have been numerous notable misses this week, including ExxonMobil (XOM: 86.12, +0.05, +0.06%) and bellwether United Parcel Service (UPS: 78.46, +0.21, +0.27%). On the day, market participants had two key economic reports and
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Page 2 of 4
earnings from three Dow components to digest. The annualized pace of expansion for the world's biggest economy came in at 2.2% in the first quarter of 2012, slower than the 3% registered in the final three months of last year, according to a preliminary reading by the Commerce Department. Economists were looking for an increase 2.5%. Consumer spending, housing investment and exports all picked up steam during the quarter. However, the gains were offset by the first drop in business investment since the last quarter of 2009, continued contraction in government spending and a pick up in imports. "The US economy remains a bright light in the global economy, although the light is hardly blinding, and also showing some signs of fading," Chris Williamson, chief economist at Markit wrote in an e-mail. Williamson warned, however, that the weakness in business investment "serves as a reminder that business remain wary of expansion, given the uncertain economic outlook." A separate report from Reuters and the University of Michigan showed that consumer sentiment ticked up to its best level since February 2011 in the end of April. The gauge clocked in at 76.4, compared with expectations for it to hold steady from an earlier reading at 75.7. On the European front, Standard & Poor's sliced Spain's long-term sovereign debt rating by two notches to BBB+ from A amid concerns over the country's ability to pay its debt while its economy struggles. Separately, the ratings agency affirmed Ireland's debt rating at BBB+, citing the government's "proactive" response to the financial crisis. S&P has a negative outlook on both countries. In Asia, the Bank of Japan expanded its asset-buying program by 10 trillion yen ($124 billion) in a bid to keep long-term interest rates low and reinvigorate the country's economy. The country is also looking to push the value of its currency compared to others lower to help lift its exports. On the earnings front, three blue-chip companies reported on the day. Merck (MRK: 38.51, +0.04, +0.10%) unveiled first-quarter earnings of 99 cents a share, excluding items, on revenue of $11.7 billion. Analysts expected the health-care behemoth to earn 98 cents on $11.82 billion. Procter & Gamble (PG: 64.48, -2.39, -3.57%) posted an adjusted fiscal -third quarter EPS of 94 cents, topping forecasts by a penny. The consumer products companys sales came in at $20.19 billion, shy of the $20.29 billion Wall Street expected. Chevron (CVX: 106.18, -0.04, -0.04%) posted a first-quarter profit of $3.27 a share, beating estimates by a penny. The blue-chip company's total revenue came in at $60.71 billion, short of expectations of $72.42 billion. Amazon.com's (AMZN: 226.85, +30.86, +15.75%) results, released after the close on Thursday, handily beat expectations. The online retailer said it earned 28 cents a share on revenue of $13.18 billion, compared with estimates of 7 cents a share on revenue of $12.9 billion. Energy futures were broadly to the upside. Crude oil traded in New York gained 38 cents, or 0.36%, to $104.93 a barrel. Wholesale New York Harbor gasoline rose 0.72% to $3.21 a gallon.
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In metals, gold climbed $4.30, or 0.26%, to $1,665 a troy ounce. Foreign Markets European blue chips jumped 0.92%, the English FTSE 100 climbed 0.49% to 5777 and the German DAX rallied 0.91% to 6801. In Asia, the Japanese Nikkei 225 dipped 0.43% to 9521 and the Chinese Hang Seng fell 0.33% to 20741.
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The Hindu : Business / Markets : Sensex gains 132 points; IT stocks in lim...
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Sensex gains 132 points; IT stocks in limelight

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Moving up for the third day in a row, the BSE benchmark Sensex on Monday gained nearly 132 points on funds buying in bluechips led by IT stocks amid a weak rupee and renewed expectations of US Fed easing monetary p to boost growth prospects. The Sensex, which had gained 57 points in last two sessions, advanced further by 131.47 points, or 0.76 per cen 17,118.81 on back of steep rise in Infosys and Tata Consultancy Services which notched up smart gains in the 2.75-3.5 per cent range. The broad-based National Stock Exchange index Nifty rose by 39.15 points, or 0.75 per cent to 5,248.15. Brokers said the IT stocks remained major supporter to the market helped by the weaker rupee and hopes for m stimulus from the US Fed after data showed cooling US growth. They also said a higher opening in European markets after Spains economy shrank less than forecast in the fir quarter, also supported the uptrend in domestic markets. TCS, which surged 3.5 per cent, led the gains in Sensex stocks, was followed by Jindal Steel (3.41 per cent), Info (2.75 per cent) and DLF (2.61 per cent). Refinery major Reliance Industries rose by 0.72 per cent to Rs 745.20 w counters like IOC and ONGC gained over 2 per cent each. Banking stocks also rose. ICICI Bank rose 1.44 per cent to Rs 881.45 after better than expected quarter earnings State Bank of India closed 0.32 per cent up at Rs 2,137.95. Keywords: BSE, sensex, closing trade
Printable version | May 2, 2012 12:35:40 AM | http://www.thehindu.com/business/markets/article3370 The
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Dow Notches Four-Year Closing High | Fox Business
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Dow Notches Four-Year Closing High

By Adam Samson Published May 01, 2012 FOXBusiness
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FOX Business: The Power to Prosper After a tepid April showing, the blue-chip average kicked off May by closing at the highest level since December 2007. Today's Markets
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The Dow Jones Industrial Average climbed 65.7 points, or 0.5%, to 13280, the S&P 500 gained 7.9 points, or 0.57%, to 1406 and the Nasdaq Composite rose 4.1 points, or 0.13%, to 3050. April was a weak month for Wall Street; indeed, the broad S&P 500 ended with a 0.75% loss, snapping a four-month winning streak. However, May was starting off with a bang. The biggest gainers on the day were energy and financial shares. Volatility dropped some 3.2% as tracked by the CBOE's VIX and the yield on the 10-year U.S. Treasury bond rose 0.04-percentage points to 1.958% as traders fled the safe-haven asset. Traders Cheer Strong ISM Data
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The Institute for Supply Management's PMI gauge climbed to 54.8 in April from 53.4 in March, suggesting the pace of expansion in the U.S. manufacturing sector picked up in April. Economists were expecting a slowdown to 53. Several regional reports, including a closely-followed one on the Midwest region released on Monday, have come as a disappointment for Wall Street. "Overall, we find it difficult to detect anything sour in this report, which is a nice interruption to the weaker data releases of late," analysts at Nomura wrote in a note to clients. Not all data beat expectations, however. A separate report from the Commerce Department showed construction spending climbed 0.1% in March, a slower pace than the 0.5% economists had expected. The major automakers also report monthly sales data on the day. Chrysler posted U.S. sales of 141,165 units in April, a 20% increase from the same month in 2011. Ford (F: 11.10, -0.13, -1.16%), meanwhile, saw a 5% drop to 180,350. General Motors (GM: 22.93, 0.38, -1.63%) saw an 8.2% drop to 213,387 units. On the corporate front, Pfizer (PFE: 22.66, -0.12, -0.53%) unveiled an adjusted first-quarter profit of 58 cents a share, beating estimates by two cents. The health-care giants revenue came in at $15.4 billion, slightly short of the $15.47 billion analysts expected. The Dow component also said it sees its full-year adjusted earnings hitting between $2.14 and $2.24 a share. Analysts were looking for $2.26 for 2012. Centerbridge Partners also revealed it is taking P.F. Changs (PFCB: 51.44, -0.04, -0.07%) private in $1.1 billion deal. The companies said shareholders will receive $51.50 a share, a roughly 30% premium. Commodities were mixed. Crude oil traded in New York jumped $1.29, or 1.2%, to $106.16 a barrel. Wholesale New York Harbor gasoline dipped 0.88% to $3.10 a gallon.
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Published May 10, 2012
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Bolton: EU Voters Want to Have Their Cake and Eat it Too
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FOX Business: The Power to Prosper The blue chips closed out the day in the green for the first time in seven sessions. However, trading volume on the day was tepid and the strongest buying was seen among defensive stocks. Today's Markets The Dow Jones Industrial Average climbed 20 points, or 0.16%, to 12855, the S&P 500 gained 3.4 points, or 0.25%, to 1358 and the Nasdaq Composite dipped 1.1 points, or 0.04%, to 2934. The utility, health-care and consumer staple sectors, often seen as safety plays, ended with the biggest gains on the day. However, tumbling shares of Cisco Systems (CSCO: 16.81, -1.97, -10.49%) weighed heavily on the technology sector after the technology bellwether posted a weak outlook. Indeed, the Nasdaq was in the red on the day and the company's fall yanked nearly 15 points off the Dow's overall performance. The materials sector struggled as well. So far, this week's action has been driven by concerns about political turmoil in Europe. Two countries of particular concern have been Greece and Spain. The former has been struggling to form a unity government, and it still remains unclear whether any government will be able to reach the necessary fiscal mandates to secure much-needed rescue aid.
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Golden Agri-Resources 1Q Net Profit US$162 Million Vs US$230.7 Million U.S. Stock Futures Point Lower; J.P. Morgan Weighs Sinopec Launches 3-Part, $3 Billion Bond Deal
http://www.foxbusiness.com/markets/2012/05/10/dow-stems-six-day-slide-trad... 11-May-2012
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Spain was forced to essentially nationalize its fourth-largest bank, Bankia, in a sign of the stress the financial system there is taking. Stocks there hit the lowest level since 2003 on Wednesday, before rebounding with a big rally on Thursday. The country is also seeing its borrowing costs hover about the painful 6% level. The focus is expected to shift back to some extent to economic data on the day. The Commerce Department reported the U.S. trade deficit rose to $51.8 billion in March from a downwardly-revised $45.4 billion in February. Economists were expecting the deficit to rise to $50 billion from a previously reported $46 billion. Exports climbed 2.9%, but that gain was counteracted by a 5.2% jump in imports. On an absolute level, both exports and imports hit all-time highs. The gap, which represents the difference between exports and imports, will figure directly into measure of first-quarter gross domestic product and are a key indicator of the competitiveness of the world's biggest economy. "This report suggests that trade may now be a plus for growth in the first quarter of 2012," IHS Global Principal U.S. Economist Gregory Daco wrote in a research note. "However, it is important to remember that the U.S. is not immune to a sharper global deceleration." Separately, new claims for unemployment benefits fell to 367,000 last week from an upwardly-revised 368,000 the week prior, according to the Labor Department. Economists were expecting claims to rise to 369,000 from an initially reported 365,000. This is the first major report on the jobs market since a disappointing April jobs report released last Friday that showed the U.S. economy adding considerably fewer jobs than expected. China revealed that its trade surplus grew to $18.4 billion in April from $5.4 billion in March. Economists expected a reading of $10.4 billion. The country saw its exports rise by a considerably smaller margin than expected, coupled with essentially no import growth. "Slowing exports suggested that the Chinese economy is feeling the effects of flagging demand in its main external markets, while the sharp fall in import growth suggested slowing investment within China," Gavan Nolan, director of credit research at Markit in London wrote in an email. Concerns that the world's No. 2 economy is slowing down were counteracted to some extent by hopes that the data would prompt Bejing to take action to boost the economy: "From a policy perspective, the set of weak trade data reinforces our view that policymakers priorities should lie in promoting growth," analysts at Nomura wrote in a research note. In energy markets, crude oil prices ended in the green for the first time in seven days. Futures traded in New York gained 27 cents, or 0.28%, to $97.08 a barrel. Wholesale New York harbor gasoline slipped 0.46% to $3.01 a gallon. In metals, gold rose $1.30, or 0.08%, to $1,596 a troy ounce. Foreign Markets
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Eurozone blue chips climbed 0.98%, the English FTSE 100 rose 0.25% to 5544 and the German DAX gained 0.66% to 6518. In Asia, the Japanese Nikkei 225 slumped 0.39% to 9010 and the Chinese Hang Seng shed 0.51% to 20227.
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The Hindu : Business News : Sensex ends 200 points higher on stronger rupee
Business
Sensex ends 200 points higher on stronger rupee
PTI
A file picture of Bombay Stock Exchange in Mumbai. Photo: Paul Noronha.
The BSE benchmark index Sensex on Monday rose by nearly 200 points on heavy buying in fundamentally stro stocks led by financials and power, driven by a stronger rupee amid a firming trend in the global markets. The 30-share barometer, which ended almost flat in the previous session, closed 199.02 points or 1.23 per cent higher at 16,416.84 after touching the days high of 16,439.97. The 50-share National Stock Exchange index Nifty also moved up by 65.25 points, or 1.33 per cent to 4,985.65, inching towards the crucial 5,000 mark. It had touched a high of 4,994.95 during the session. Brokers said besides a stabilising rupee, which recovered for the third straight day on Monday, a firming trend the global markets after concerns eased over Greeces possible exit from Eurozone helped Indian markets close gains. Covering-up of short positions ahead of Thursdays monthly expiry in the derivatives segment, also helped the trading sentiment, dealers said. Stock market participants said the market mood was helped by global rating agency Moodys comment that the sliding rupee will not impact Indias sovereign ratings. After closing at 55.37 a dollar on Friday, the rupee on Monday opened at 55.20 and was last trading at 55.25. State Bank of India (SBI) led the Sensex gainers on Monday with 4.76 per cent gain, followed by BHEL (4.17 pc Tata Power (3.81 pc), Hindalco (2.82 pc) and Tata Motors (2.69 pc). Index heavyweight Reliance Industries ended higher by 1.33 per cent at Rs 701.20 largely buoyed by its ongoing buy-back issue, while another influential stock, Infosys ended 0.66 per cent at Rs 2,387.65. Amongst indices, the BSE-Bankex gained the most by adding 2.42 per cent to 11,162.95 points. It was followed b BSE-Power (2.33 p.c.), BSE-Consumer Durables (2.20 p.c.) and BSE-Capital goods (1.85 p.c.). Keywords: Bombay Stock Exchange, Rupee, Greece economy, Eurozone crisis, Stock position
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28-May-2012 11:22 AM
The Hindu : Business / Markets : Sensex up by 70 points
Business Markets
Published: June 8, 2012 17:35 IST | Updated: June 8, 2012 17:35 IST
Sensex up by 70 points
PTI
After dropping over 160 points, the Sensex staged a remarkable recovery today to close 70 points higher at 16,7 its fifth straight day of gains and clocked the best weekly gains this year. Market players said investors continued to bet on rate cut by RBI, helping markets shrug off weak global cues. After opening lower, the BSE benchmark Sensex touched the days low of 16,485.02 points as U.S. Federal Rese chief yesterday dashed hopes of a fresh stimulus package while Fitch downgraded long-term credit rating of Sp adding to Eurozone worries. Trends from Asian markets and European markets were also weak with indices down by up to 2 per cent. After moving in tandem with global trends, Sensex started recovering in the last two hours of trade after RBI D Governor K. C. Chakrabarty said: If inflation comes down, definitely monetary policy rate will come down. Brokers attributed the recovery to a rise in stocks of capital goods, realty and fast moving consumer goods. The 30-share index finally closed 69.82 points higher at 16,718.87, a fresh one-month high. The index also logg best weekly gains of 2012 by rising 753 points or 4.72 per cent. In the 30-share index, 21 stocks closed higher led by gains in Sterlite, Gail and L&T. Heavyweights like ITC and Reliance that rose over 1 per cent supported the rise. The 50-share NSE Nifty also rose by 18.70 points to close at 5,068.35, after slipping below the key 5,000level In the short term, the RBI rate decision will be keenly watched. The April IIP as well as the May Inflation data released next week may have a bearing on the policy, said Dipen Shah, Head Fundamental Research, Kotak Securities. Keywords: sensex, stock market
Printable version | Jun 9, 2012 8:18:49 PM | http://www.thehindu.com/business/markets/article3505 The
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09-Jun-2012 10:52 AM
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FOX Business: The Power to Prosper On the heels of posting the worst weekly performance of 2012, the markets zoomed higher this week on hopes policymakers may be willing to take action to buoy ailing world economies.
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Today's Markets The Dow Jones Industrial Average rose 93 points, or 0.75%, to 12554, the S&P 500 rose 10.7 points, or 0.81%, to 1326 and the Nasdaq Composite jumped 27.4 points, or 0.97%, to 2858. For the week, the Dow jumped 3.6%, the S&P 500 gained 3.7% and the Nasdaq rallied 4%. With little in the way of economic data released this week, market participants have been focused on a stream of commentary from global central banks. However, much of the news has come as a disappointment. The European Central Bank and Bank of England both held off on making changes to their monetary policy, while commentary from Federal Reserve Chairman Ben Bernanke was interpreted as suggesting the central bank isn't quite ready to unleash another round of easing. Still, traders remained hopeful that easing may be on the way in the near future. Meanwhile, China slashed its benchmark lending and deposit rates.
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This comes at a time when the economic backdrop is growing to be increasingly dim. The growth rate in U.S. and China appears to be slowing down, while Europe's woes continue deepening. Indeed, Spain, the fourth-largest eurozone economy, is planning on asking the European Union for help rescuing its banking sector this weekend, according to a report by Reuters, citing unnamed sources. A separate report from Dow Jones Newswires says high-level EU officials will be talking on a conference call this weekend. The U.S. trade deficit narrowed in April to $50.06 billion from $52.62 billion in March. Economists had been expecting the deficit to fall to $49.5 billion. Looking into the report, exports dipped 0.8%, while imports dropped 1.7%. While the report is a lagging indicator, the difference between the imports and exports figures directly into broader gauges of second-quarter economic growth. The bigger the deficit, the more it detracts from gross domestic product. Commodities were mixed. The benchmark crude oil contract traded in New York slipped 72 cents, or 0.85%, to $84.10 a barrel. Wholesale New York Harbor gasoline rose 0.01% to $2.69 a gallon. In metals, gold climbed $3.40, or 0.21%, to $1,591 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.04% to 2144, the English FTSE 100 slid 0.23% to 5435 and the German DAX slumped 0.22% to 6131. In Asia, the Japanese Nikkei 225 tumbled 2.1% to 8459 and the Chinese Hang Seng skidded lower by 0.94% to 18502.
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EU Agreement Ignites Buying Frenzy on Wall Street | Fox Business
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EU Agreement Ignites Buying Frenzy on Wall Street

By Adam Samson Published June 29, 2012 | FOXBusiness
FOX Business: The Power to Prosper Traders across the globe scooped up equities, commodities and other risky assets amid optimism that European policymakers are taking decisive measures to put an end to the continent's debt crisis. Today's Markets As of 3:20 p.m. ET, the Dow Jones Industrial Average rallied 237 points, or 1.9%, to 12840, the S&P 500 jumped 28.5 points, or 2.1%, to 1357 and the Nasdaq Composite climbed 76.9 points, or 2.7%, to 2926. It wasn't only equities that rallied on Friday. Oil surged $7.27, or 9.4%, in its best daily advance since February 2011. Meanwhile, gasoline leaped 4.3% and gold charged 3.5% higher. A Sigh of Relief In a sign of the breadth of the buying, volatility dropped nearly 10% as tracked by the CBOE's VIX and there were six trades in advancing shares for each in a declining share on the New York Stock Exchange. The yield on the U.S. 10-year bond jumped 0.73percentage point to 1.652% as traders ditched the safe-haven asset class. After days of trepidation leading up to the European Union summit, traders were finally able to breathe at least a temporary sigh of relief on Friday. The European Council said in a statement early Friday that is "imperative to break the vicious circle between banks and sovereigns." As a result, it is planning several moves aimed at easing embattled eurozone credit and financial markets. One of the most important components is the introduction of a single bank regulator that would work with the European Central Bank and oversee the bloc's banks. Once that is set up, the European Council said it will allow banks to borrow directly from the European Stability Mechanism (ESM), which is the eurozone's permanent rescue fund. That is important because right now banks need to borrow via their countries, which in turn increases those countries' national debt levels. On a more technical level, the European Council also said the ESM will not become a senior debt holder when it lends to banks in Spain. There were worries that if that occurred, it would spook private bondholders who see their holdings become subordinate. The statement said the formal plans should be crafted by July 9. While market participants cheered the news, many analysts remained concerned about the long-term stability of the eurozone. The measures "exceeded the market's mean view because risks had been skewed to the downside: there had been a significant probability that no agreement would be made at all," analysts at Barclays wrote in a note to clients. "However, the agreement represents only a limited move forward and deep disagreements remain between euro area countries, so it is far from a game-changer." Eurozone blue chips surged 5% in the best session of the year and the euro soared 1.9% to $1.2674. Despite the big gains on the day, stocks are still looking to close the quarter out with sizeable losses. Indeed, the broad S&P 500 is poised to shed more than 3.5% for the quarter. Data Deluge
http://www.foxbusiness.com/markets/2012/06/29/stocks-soar-as-traders-cheer-... 29-Jun-2012
EU Agreement Ignites Buying Frenzy on Wall Street | Fox Business
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Wall Street also got several economic reports. Consumer spending remained flat in May from April as expected while personal income rose 0.2%, also as expected, the Commerce Department reported. The manufacturing sector in the mid-West region expanded at a slightly faster pace in June from the month before, according to data from the Institute for Supply Management-Chicago. The more closely-watched national ISM report is slated for release on Monday. A final reading on consumer sentiment for the month of June came in at 73.2, the lowest level since December 2011 and down from a reading of 74.1 in early June, according to a survey by Thomson Reuters and the University of Michigan. Economists expected the gauge to hold steady at 74.1. Foreign Markets The Euro Stoxx 50 surged 5% to 2265, the English FTSE 100 rallied 1.4% to 5571 and the German DAX soared 4.3% to 6416. In Asia, the Japanese Nikkei 225 gained 1.5% to 9007 and the Chinese Hang Seng jumped 2.2% to 19441.
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Stocks end first half of 2012 with a bang - Jun. 29, 2012
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Stocks end first half of 2012 with a bang

By Maureen Farrell @CNNMoneyInvest June 29, 2012: 4:37 PM ET
NEW YORK (CNNMoney) -- U.S. stocks soared Friday, and all three indexes closed out the first half of 2012 up more than 5%. The Nasdaq has etched double-digit gains. A deal among European leaders to help struggling eurozone banks buoyed global markets Friday, at least temporarily erasing investors' looming fears over the viability of the eurozone. While stocks have clocked broad gains for the year, all three indexes closed out the second quarter below first quarter highs. Fears over Europe pushed stocks down nearly 10% in early June. Still, on Friday, investors looked solely at what was accomplished at the two-day European Union summit in Brussels. European leaders struck a "breakthrough" deal early Friday aimed at easing the recapitalization of banks. Expectations were so low heading into the summit that the surprise announcement sparked widespread euphoria. Investors were relieved to see sky-high bond yields in Spain and Italy retreat from 7% -- the level that flashes bailout warning signals.
Fear & Greed Index hits neutral
"We're finally seeing a cause and effect," said Frank Davis, director of trading at LEK Securities. "It's a very positive sign that they can have a timely impact with some of the moves EU leaders make." The Dow Jones industrial average ( INDU) closed the day up 278 points, or 2.2%. The S&P 500 ( SPX) gained 33 points, or 2.5%. The Nasdaq ( COMP) added 86 points, or 3%. Financial stocks led the broad worldwide rally. In Paris, BNP Paribas ( BNPQF) and Credit Agricole ( CRARY) and Societe Generale ( SCGLY) rose nearly 10%. In Frankfurt, Commerzbank ( CRZBY) rose 5% and Deutsche Bank ( DB) surged 7%. In Madrid, Banco Santander ( SAN) jumped 7%. In the United States, Bank of America ( BAC, Fortune 500), Citigroup ( C, Fortune 500), Morgan Stanley ( MS, Fortune 500) and Goldman Sachs ( GS, Fortune 500) all rose between 2% and 6%. JPMorgan ( JPM, Fortune 500), which is still reeling from news that its trading losses could jump as high as $9 billion, dipped slightly, and Barclays ( BCS), which is under pressure for manipulating LIBOR rates, closed down 5% U.S. stocks closed in negative territory Thursday, after clawing back in the final hour of trading from much steeper losses. World markets: The EU deal includes a mechanism to inject capital directly into banks, which may reduce what Investec bond analyst Elisabeth Afseth called "the bank-sovereign negative feedback loop."
http://money.cnn.com/2012/06/29/investing/stocks-markets/index.htm?source=... 29-Jun-2012
Stocks end first half of 2012 with a bang - Jun. 29, 2012
Page 2 of 2
Afseth said the loop starts when a nation borrows to recapitalize its troubled banks, which then increases the country's debt, pushes up bond yields, reduces bond values and forces banks to require even more capital.
European leaders reach key deal on banks
"It's an important step," Afseth said, but she remains skeptical. "You have to be a little bit concerned where the funds are coming from. They could potentially run out quite quickly." EU leaders are hoping for implementation of the bank agreement by July 9. European stocks all closed higher. Britain's FTSE 100 ( UKX) added 2%, the DAX ( DAX) in Germany jumped 3.5% and France's CAC 40 ( CAC40) rallied 3.8%. Asian markets also ended higher. The Shanghai Composite ( SHCOMP) closed just above breakeven, while the Hang Seng ( HSI) in Hong Kong surged 3.1% and Japan's Nikkei ( N225) gained 1.5%. Economy: The Chicago Purchasing Managers' Index for June came in at 52.9, slightly below expectations of 53, but up from 52.7 last month. Any reading above 50 signifies expansion in the region's manufacturing sector. The University of Michigan's Consumer Sentiment Index for June came in below expectations at 73.2, compared with 74.1 in May. Companies: Home builder KB Home ( KBH) reported a second-quarter loss Friday that was smaller than expected, which pushed shares up 13%. Nike ( NKE, Fortune 500) shares tumbled 9%, a day after the company reported quarterly earnings that missed analyst estimates. Shares of Research In Motion ( RIMM) fell 19%, after the BlackBerry-maker reported a wider-than-expected loss Thursday, and another delay of its long-awaited BlackBerry 10 operating system. Ford ( F, Fortune 500) shares slid nearly 5%. On Thursday, the automaker lowered its guidance based on poor performance by its international divisions. Shares of gun manufacturing company Smith & Wesson ( SWHC) surged after the company's earnings beat profit expectations by a wide margin. Currencies and commodities: The dollar fell against the euro, British pound and Japanese yen. Oil for August delivery rose $7.27 to $84.96 a barrel. Gold futures for August delivery jumped $53.80 to $1,604.20 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.65% from 1.58% late Thursday.
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8/9/12
Business Markets
Published: July 3, 2012 09:42 IST | Updated: July 3, 2012 18:46 IST
Sensex up 27 points
PTI
The Bombay Stock Exchange benchmark index, Sensex, on Tuesday erased most of its early gains and closed just 27 points up amid worries over monsoon. After climbing to a 10-week high of 17526.82 in the first hour of trade, the Sensex pared most gains and closed barely 26.73 points higher or 0.15 per cent. Among the 30-share index, 16 stocks including Bharti Airtel, Hindalco, HDFC and Coal India ended higher while 14 scrips including BHEL, Jindal Steel, TCS and ITC dropped. FMCG sector, which gets a boost in sales with a good monsoon helping rural India, saw selling emerge for the second straight day as ITC and HUL shares shed over 1 per cent each. IT majors TCS and Infosys ended lower on Tuesday after brokerage Macquarie on Monday downgraded the domestic IT sector. Similarly, the 50-share National Stock Exchange index Nifty closed 9.35 points up at 5287.95. Globally, Asian stocks ended higher on hopes that central banks in the US and Europe may ease monetary policy to spur economic growth. European indices were also trading higher in early trade. Keywords: BSE, Sensex, stocks open, stock market More In: Markets | Business
Printable v ersion | Aug 1 0, 2 01 2 8:2 9 :1 1 AM | http://www.thehindu.com /business/m arkets/article3 59 7 6 54 .ece The Hindu
www.thehindu.com/business/markets/article3597654.ece?css=print
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Stocks rally on strong auto sales, factory orders

By Emily Jane Fox @CNNMoneyInvest July 3, 2012: 3:33 PM ET
Click the chart for more stock markets data
NEW YORK (CNNMoney) -- U.S. stocks rallied on a holiday-shortened trading day, as investors reacted to strong auto sales and an increase in U.S. factory orders for May. But the big market-moving news will come Friday when the government releases June unemployment numbers. Many investment professionals are off for the week. U.S. markets closed at 1 p.m. ET on Tuesday, and will remain dark Wednesday to celebrate Independence Day. All three indexes closed higher on Tuesday. The Dow Jones industrial average ( INDU) rose 72 points, or 0.6%, the S&P 500 ( SPX) gained 9 points, or 0.6%, and the Nasdaq ( COMP) added 25 points, or 0.8%. CNNMoney's Fear & Greed Index hit 58, back in "Greed" territory after a long stint in "Extreme Fear" during the worst of Europe's debt crisis. Before last Friday, the index hadn't been above 50 since April 9 -- the day m arkets sold off on a lousy jobs report. Though Tuesday's economic reports boosted markets for most of the day, disappointing manufacturing data released Monday continued to temper optimism. "Vehicle sales coming in better [helped] the market today, and we're still getting a bounce from decisions out of Europe at the end of last week," said Bernie Williams, vice president of discretionary money management at USAA. "But there's no question that the economic slowdown in Europe is impacting the U.S., as we saw with manufacturing numbers." The Institute for Supply Management said its June Purchasing Manufacturers Index fell to 49.7, down from 53.5 in May. It was the first time the index fell below 50, which signals expansion in the sector, since July 2009.
Barclays not alone in rate-fixing scandal
Meanwhile, manufacturing activity in the euro area continued to decline in June, while the region's unem ploy m ent rose to a record high. The Chinese government's report of m anufacturing activity declined slightly, but remained above the level indicating expansion. U.S. stocks finished m ix ed Monday as investors digested news of the manufacturing slowdown. World m arkets: European stocks all closed higher on Tuesday. Britain's FTSE 100 ( ( DAX) in Germany jumped 1.3% and France's CAC 40 ( CAC40) gained 1%. Asian markets ended higher. The Shanghai Composite (
money.cnn.com/2012/07/03/investing/stocks-markets/index.htm
UKX) added 0.8%, the DAX HSI) in Hong
SHCOMP) closed up 0.1%, the Hang Seng (
Kong rose 1.5%, and Japan's Nikkei (
N225) finished 0.7% higher.
Econom y : Factory orders for May rose by 0.7%, after increasing 0.4% in April. That beat expectations; economists at Briefing.com forecast the number to climb by 0.5%. Com panies: Automakers reported June sales figures Tuesday . Ford ( F, Fortune 500) posted a 7% gain from last June, with 208,000 vehicles sold. Ford had warned last week that second-quarter losses from overseas operations -particularly in Europe -- would be bigger than expected. Chry sler sold 145,0000 vehicles in June, a 20% gain from a year ago, while General Motors ( GM, Fortune 500) sold nearly 249,000 vehicles, a 16% increase. Toyota ( TM) saw a 60% increase, selling 177,795 vehicles. Ford's stock rose 2%, and shares of GM jumped 6%. Barclays ( BCS) chief executive Bob Diam ond w ill step dow n from his post, the bank said Tuesday. The news came a day after chairm an Marcus Agius announced his own resignation amid the widening scandal surrounding the bank's manipulation of interbank lending rates. However, Agius was renamed chairman to lead the search for a new CEO on Tuesday. Barclays closed down more than 2%. Sev en additional banks are cited but not named in documents made public as part of Barclays' settlement with the Financial Services Authority, the British banking regulator. Deutsche Bank ( DB ), Royal Bank of Scotland ( RBS), Credit Suisse ( CS), Citigroup ( C, Fortune 500), JPMorgan Chase ( JPM, Fortune 500) and UBS ( UBS) are among the banks that have acknowledged they are being investigated. Bank of America ( BAC, Fortune 500) is also reportedly being investigated but has not made any public statements about the scandal, and a spokesperson declined to comment. After Monday's close, Microsoft ( MSFT, Fortune 500) announced it would take a $6.2 billion w ritedow n on its aQuantive acquisition. It purchased the online advertising company in 2007 for $6.3 billion in cash. Currencies and com m odities: The dollar fell against the euro and rose versus the British pound and Japanese yen. Oil for August delivery rose $3.84 to $87.57 a barrel. Gold futures for August delivery gained $24.40 to $1,623.20 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.62% from 1.58% late Monday.
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FOX Business: The Power to Prosper The markets closed out the holiday-shortened trading session with solid gains, driven by energy and materials shares that got a boost from rallying commodity prices. Today's Markets The Dow Jones Industrial Average climbed 72.4 points, or 0.56%, to 12944, the S&P 500 rose 5.3 points, or 0.39%, to 1371 and the Nasdaq Composite gained 24.9 points, or 0.84%, to 2976.
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After a report released on Monday showed the U.S. manufacturing sector contracted for the first time since July 2009, the increasingly frail global economy has taken the spotlight. A report from the Commerce Department showed U.S. factory orders rose 0.7% in May from April, topping estimates of a 0.2% increase. Vehicle manufacturers are also set to report their monthly sales on the day. Expectations are for a strong month, with June sales hitting the highest level since 2007. Chrysler said its U.S. sales jumped 20% on a year-to-year basis. Meanwhile, Ford (F: 9.60, +0.21, +2.24%) revealed a 7% rise on the same basis. In corporate news, Barclays (BCS: 10.54, -0.23, -2.14%) Chief Executive Officer Bob Diamond resigned as the bank continues feeling tremors from the interest-rate rigging scandal. In metals, gold climbed $14.60, or 0.91%, to $1,612 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 1.2% to 2320, the English FTSE 100 gained 0.83% to 5688 and the German DAX climbed 1.3% to 6578. In Asia, the Japanese Nikkei 225 jumped 0.7% to 9067 and the Chinese Hang Seng rallied 1.5% to 19736.
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Stocks surge, break 6-day losing streak

By Hibah Yousuf and Emily Jane Fox @CNNMoneyInvest July 13, 2012: 4:52 PM ET
NEW YORK (CNNMoney) -- U.S. stocks rallied Friday, with the Dow and S&P 500 breaking a six-day losing streak, as JPMorgan Chase reported stronger-than-expected second-quarter earnings despite a trading loss of $5.8 billion so far this year. Shares of JPMorgan ( JPM, Fortune 500) soared almost 6%. In addition to earnings, JPMorgan also revealed that traders involved in the loss no longer work at the bank and could lose as much as two years of income. "The news is relieving the market of some of its worst nightmares, since the loss could have been bigger and some of the actions taken by the bank are actually helping confidence," said Peter Cardillo, chief market economist at Rockwell Global Capital. "The feared disaster wasn't all that." The Dow Jones industrial average ( INDU) jumped 204 points, or 1.6%, the S&P 500 ( SPX) added 22 points, or 1.7%, and the Nasdaq ( COMP) climbed 42 points, or 1.5%. The day's gains were the best since June 29. Other major U.S. banks also rose on Friday. Shares of Bank of America ( BAC, Fortune 500), Morgan Stanley ( MS, Fortune 500), Citigroup ( C, Fortune 500) and Goldman Sachs ( GS, Fortune 500) all closed between 3% and 6% higher. Investors also reacted to comments from Federal Reserve Bank of Atlanta President Dennis Lockhart that stimulus action may be coming down the pike. "My support for the current stance of policy rests on a forecast that sees a step-up of output and employment growth by year-end and into 2013," he said in prepared remarks to the Mississippi Economic Council. "If the economy continues on the track indicated by the most recent incoming data and information, that forecast will become untenable, as will the policy premises underlying it. This is a challenging juncture for policymaking." Stocks also gained traction on disappointing economic numbers out of China, as investors grew hopeful that the weakness could prompt additional stimulus measures. In the second quarter, GDP in China grew at an annual pace of 7.6%, the lowest rate in three years and a deceleration from the 8.1% growth rate it saw the previous quarter.
Fear & Greed Index
Anxiety remains about the European debt crisis. Investors are concerned that political headwinds in Europe will stymie the
latest rescue plan for the euro currency union, which eurozone leaders announced at a summit meeting late last month. On Friday, Moody's downgraded Italy's government debt two levels, citing an increased likelihood the country will be slammed by higher borrowing costs. Yields on the Italian 10-year bonds rose to 6.06%. But analysts say that it's not all bad news for Italy , as an auction of 3-year bonds sold at an average yield of 4.65%, down from 5.3% in mid-June. "This is positive for risk," Cardillo said. "It shows that upbeat confidence may be returning."
Related: Barclays admitted false Libor reports to Fed in '08
U.S. stocks fell Thursday as fears about a global economic slowdown and disappointing corporate results weighed on the market. World m arkets: European stocks closed higher on Friday. FTSE 100 ( gained 2.2%, and France's CAC 40 ( CAC40) ticked up 1.5%. UKX) added 1%, the DAX ( DAX) in Germany N225) closed
Asian markets ended just above breakeven. The Shanghai Composite ( SHCOMP) and Japan's Nikkei ( slightly higher, while the Hang Seng ( HSI) in Hong Kong added about 0.4%.
Econom y : The government reported producer prices in June rose by 0.1%, despite expectations that they would fall by more than half a percent. The University of Michigan's Consumer Sentiment Index for July fell to 72, from 72.2 the prior month. The reading was below expectations. Com panies: Wells Fargo ( WFC, Fortune 500) posted earnings of 82 cents on $21.4 billion in revenue, on par with expectations. On Thursday, the Department of Justice announced the bank agreed to pay $175 million to settle allegations that it discriminated against minority borrowers. Shares rose more than 3%.
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Global banking giant HSBC ( HBC) will face scrutiny on Capitol Hill on Tuesday over its allegedly lax protections against money laundering by organized criminals and terrorist groups. It's not clear if or how much HSBC may be fined over its alleged lapses, though the Financial Times speculated that the bank could be on the hook for up to $1 billion, citing analyst estimates. Currencies and com m odities: The dollar lost ground against the euro, British pound and Japanese yen. Oil for August delivery rose $1.02 to settle at $87.10 a barrel. Gold futures for August delivery rose $26.70 to settle at $1,592.00 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell slightly, pushing the yield up to 1.50% from 1.48% late Thursday.

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Stocks Turn Positive for July

By Lauren Simonetti Morning Outlook Pub lished July 19, 2012 FOXBusiness
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The major averages are now in positive territory for the month of July. Another rally yesterday fueled the Dow 103 points, the Nasdaq surged by 33, and the S&P 500 added 9 points, thanks to another strong report on the housing sector and more solid corporate earnings, particularly from the tech sector. Intel was the best-performing stock on the Dow Industrials, followed by Cisco (CSCO: 17.70, +0.54, +3.15%), Microsoft (MSFT: 30.50, +0.17, +0.56%), and IBM (IBM: 198.42, -0.61, -0.31%). Futures Thursday morning are higher. If the gains hold, U.S. stocks could finish positive for the third consecutive session. A big story that Wall Street, Washington, and global regulators are following is the accused manipulation of the Libor rate, the most widelyused interest rate in the world.
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Determining it works on the honor system, with London banks telling Thomson Reuters what rate they expect to pay on a loan from another bank. Those expectations are then averaged together, and the Libor rate is set. These rates impact what you pay on your student loan, car loan, and mortgage. And that is why the scandal is drawing so much attention. Barclays agreed to a record settlement last month of allegations that it rigged Libor, but now many other banks are being investigated. Smaller banks are even accusing some of the bigger banks of colluding to keep Libor low, causing the illusion that they were more credit worthy. Meanwhile, published news reports say Bank of England Gov. Mervyn King has sent a letter to other top central bankers requesting they meet for
www.foxbusiness.com/markets/2012/07/19/stocks-turn-positive-for-july/
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Banks under investigation include JP Morgan Chase (JPM: 36.92, -0.24, -0.65%), the largest U.S. bank, as well as Bank of America (BAC: 7.72, +0.05, +0.65%), Citigroup (C: 28.86, 0.00, 0.00%), among others. The Consumer Financial Protection Bureau is sending the banks its own message: Don't say something is free when it's not! Capital One Financial (COF: 56.55, -0.01, -0.02%) has agreed to pay $210 million to settle charges that its call-center representatives urged customers into paying for pricey add-on services, like credit monitoring and payment protection, by telling many of them that those services were free. The settlement is the first for the new consumer agency. Most of the money will go back to affected customers. The CFPB says the deceptive tactics are not isolated to Capital One; expect similar announcements down the road.
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Led by Infosys, RIL and ICICI Bank, shares rose for the third day, on Thursday, with the Bombay Stock Exchange benchmark index, Sensex, gaining 94 points on hopes of speedier reforms after presidential polls amid a positive trend in global markets. The Sensex, which had gained over 81 points in last two sessions, rose by 93.84 points to 17278.85. The days best performers included Infosys, Sterlite, Tata Power, BHEL and Bajaj Auto. The 50-share National Stock Exchange index Nifty rose by 26.40 points to 5242.70. Keywords: sensex, share markets, stock markets More In: Markets | Business
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FOX Business: The Power to Prosper After a four-session slump, Wall Street roared higher as traders cheered upbeat commentary from the European Central Bank and a round of generally positive U.S. economic data. Today's Markets The Dow Jones Industrial Average gained 212 points, or 1.7%, to 12888, the S&P 500 rallied 22.1 points, or 1.7%, to 1360 and the Nasdaq Composite jumped 39 points, or 1.4%, to 2893. Every major sector posted solid gains on the day. The telecommunications sector was up by the widest margin, followed by energy, consumer discretionary and industrial shares. European Central Bank President Mario Draghi said Thursday that he is "ready to do whatever it takes to preserve the euro" within the central bank's mandate, according to a report by Reuters. He also implied the ECB may be ready to purchase the debt of embattled eurozone countries to push their borrowing costs back down. These remarks come on the heels of commentary from ECB governing council member Ewald Nowotny, suggesting it could make sense for the eurozone's permanent rescue fund, the European Stability Mechanism, to receive a banking license. The moves would come as a relief to market participants who have
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Lackluster Start to Earnings Season Adds to Growth Jitters Despite the Allure, Investors Remain Wary of Physical Gold
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seen the yield on Spain's 10-year bonds surge well above the 7% mark. Such high borrowing costs have prompted sovereign bailouts of countries such as Spain and Portugal. The euro soared 0.83% to $1.2259, while the Euro Stoxx 50 surged 4.3%. Still, many analysts remained skeptical of the somewhat vague commentary. "Boosting the ESM fire power may be required to stabilize peripheral funding pressures, but it may take further market stress for member countries to agree," analysts at Barclays wrote in a note to clients. On the U.S. front, Wall Street is set to get another round of earnings news from big companies ahead of the opening bell. 3M (MMM: 90.59, +1.84, +2.07%) revealed second-quarter profits of $1.66 a share, beating estimates by a penny. However, the Dow components revenues came in at $7.5 billion, shy of the $7.79 billion Wall Street anticipated.There are also a slew of economic reports on tap. Orders for long-lasting goods rose 1.6% in June from May, according to the Commerce Department, topping estimates for a 0.4% increase. Excluding the transportation segment, orders were down 1.1% from May, the biggest decline since January. Economists were expecting orders to be unchanged from May. The durable goods report factors into broader measures of economic growth. New claims for unemployment benefits fell to 353,000 last week from an upwardly revised 388,000 the week prior, according to the Labor Department. Claims were expected to fall to 380,000 from an initially reported 386,000. The Labor Department said claims remain volatile as a result of issues relating to auto-plant shutdowns, according to Reuters. A report on the housing market came as a disappointment. Contracts for pending sales of previously-owned homes fell 1.4% in June from May, according to the National Association of Realtors. Sales were expected to rise 0.2%. Commodities markets moved to the upside. The benchmark crude oil contract traded in New York gained 47 cents, or 0.47%, to $89.39 a barrel. Wholesale New York Harbor gasoline rose 0.75% to $2.814 a gallon. In metals, gold climbed $7.10, or 0.44%, to $1,620 a troy ounce. Foreign Markets The Euro Stoxx 50 surged 4.3% to 2251, the English FTSE 100 jumped 1.4% to 5573 and the German DAX rallied 2.8% to 6583. In Asia, the Japanese Nikkei 225 gained 0.92% to 8443 and the Chinese Hang Seng gained 0.08% to 18893.
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Stocks Soar on Euro Hopes, Data Starbucks Shares Lower After Hours Following 2Q Miss, Bleak Forecast "Well, this is the end of western civilization" (Gold Standard Now) Why Greeces Recovery May Be Wishful Thinking (OppenheimerFunds Blog) Bill Gates Just Bought $571 Million of This Stock (StreetAuthority)
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Dow hits 13,000 as stocks rally

By Ben Rooney @CNNMoneyInvest July 27, 2012: 4:40 PM ET
NEW YORK (CNNMoney) -- U.S. stocks rallied Friday on hopes that central banks in Europe and the United States will take steps to support the economy. The Dow Jones industrial av erage was up 188 points, or 1.5%, to end above the 13,000 mark, a psychologically important level it has not crossed since early May. The S&P 500 added 26 points, or 1.9%, and the Nasdaq gained 65 points, or 2.2%. The major indexes are all ended higher for the week. The Dow rose 2% for the week, the S&P added 1.7% and the Nasdaq gained 1.1%. Friday's rally was driven mainly by "chatter" the European Central Bank will intervene in the bond market to ease borrowing costs for Spain and Italy, said Peter Cardillo, chief market economist at Rockwell Global Capital. "Stocks are moving higher on the hopes that we finally will see some action to stabilize the situation in Europe," said Cardillo. French President Franois Hollande and German Chancellor Angela Merkel said in a joint statement Friday that they are "committed to do everything to protect the eurozone." ECB president Mario Draghi said Thursday that the bank will do " w hatev er it takes" to preserve the euro. Draghi will meet this weekend with officials from the German central bank, which has resisted buying bonds in the secondary market, ahead of next week's policy meeting, according to Bloomberg. The wire service said Draghi is pushing a plan to buy bonds, lower interest rates and offer additional liquidity to European banks.
Fear & Greed Index
Meanwhile, investors also responded to the latest U.S. economic data and corporate reports. The U.S. econom y grew at a 1.5% annual rate in the second quarter of 2012, down from a 2% rate in the first three months of the year, according to the government. While the report was slightly better than expected, the outlook for growth remains lackluster as the weak job market curtails consumer spending. Many traders expect the Federal Reserve, which also meets next week, to take additional steps to stimulate growth. "We've learned that you never fight the Fed when they want to get something done and have the ammunition to do it," said
Anthony Conroy, head trader at BNY ConvergEx Group. Econom y : The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment fell to 72.3 in July from 73.2 in June. It was the lowest level since December. Economists had expected the index to remain unchanged in July at 72, according to a survey of analysts by Briefing.com. Com panies: Facebook ( FB ) shares fell to an all-time low after the social network company's first quarterly earnings release as a public company. Facebook beat analysts' revenue expectations slightly and earnings matched forecasts, but that was apparently not enough for Wall Street. Starbucks ( Expedia ( SBUX, Fortune 500) shares also tumbled after quarterly earnings that missed analysts' expectations. EXPE) shares surged after the online travel booking company reported strong quarterly results. AMZN, Fortune 500) shares moved
Despite reporting mixed quarterly results and a disappointing outlook, Amazon ( higher as investors focused on the online retailer's long-term growth prospects.
Shares of Barclays ( BCS) gained after the bank apologized for the Libor scandal while reporting a $6.3 billion profit for the first half of 2012.
Related: Corporate America rings alarm on global slump
Merck ( MRK , Fortune 500) shares rose after the pharmaceutical company beat earnings and sales expectations and affirmed its outlook for the year. Del Frisco's ( DFRG), a high-end steakhouse chain, raised $75 million in its initial public offering late Thursday, as shares priced at $13, below the range of $14 to $16. The stock finished its first day on the Nasdaq unchanged. World m arkets: European markets closed higher. Britain's FTSE 100 rose nearly 1%, the DAX in Germany gained 1.6%, while France's CAC 40 surged 2.2%. Asian markets ended higher. The Shanghai Com posite ticked up 0.1%, the Hang Seng in Hong Kong gained 2% and Japan's Nikkei added 1.5%. Currencies and com m odities: The dollar fell against the euro, the British pound and the Japanese yen. Oil for September delivery rose 70 cents to $90.09 a barrel. Gold futures for August delivery rose $2.90 to $1,618 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.51% from 1.43% late Thursday.

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The Hindu : Business / Markets : Sensex surges 200 points
Business Markets
Sensex surges 200 points

PTI
The 30-share barometer, which lost over 278 points in the previous two sessions, rose by 271.48 points, or 1.63 per cent, to 16,911.30. File Photo: Vivek Bendre
The BSE benchmark index Sensex on Friday rebounded from six-week lows surging by nearly 200 points on heavy buying by funds after better earnings by private banks and firming global trends. The 30-share index, which had lost 278 points in the last two trading sessions, shot up by 199.37 points, or 1.20 per cent to 16,839.19 points. It touched the days high of 16,975.03. The wide-based 50-stock National Stock Exchange index Nifty shot up by 56.85 points, or 1.13 per cent, to 5,099.85, after climbing to 5,149.95 during the session. Trading sentiment bolstered after leading banks like ICICI Bank posted better than expected earnings, brokers said. The market further received support from firming trend in Asia and Europe on speculation the central banks from Europe and Japan will take steps to contain eurozone debt crisis. Metal sector stocks led by Tata Steel and Sterlite Industries rose as base metal prices surged in global markets. Among the 30 Sensex scrips, 24 stocks closed with gains with metal, IT and auto indices recording handsome gains. Reliance Industries rose by 1.42 per cent to Rs 720.40 and Infosys by 1.12 per cent to Rs 2,148.85. Tata Consultancy Services rose by 1.92 per cent to Rs 1,225.75. The three stocks carry nearly 20 per cent weightage on the Sensex. The major gainers were HDFC Bank, ITC, Mahindra and Mahindra, Maruti Suzuki, Sun Pharma, Tata Motors, Tata Powers, Bharti Airtel, Coal India, HDFC Ltd and Wipro. ICICI Bank rose by 2.35 per cent to Rs 928.20 after its posted nearly 25 per cent growth in consolidated profit. Another major private lender HDFC Bank gained over 3 per cent. However, public sector major State Bank of India fell by 3.77 per cent to Rs 1,941.20 amid concerns over asset quality of state-run banks. Keywords: Sensex, BSE, NSE, Nifty, Dow Jones, stock market
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Stock Futures Extend Gains on GDP Data

By Adam Samson
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FOX Business: The Power to Prosper U.S. stock-index futures climbed further into the green as traders reacted to data showing the American economy grew at about the rate economists expected in the second quarter. Today's Markets As of 8:37 a.m. ET, Dow Jones Industrial Average futures rose 55 points to 12877, S&P 500 futures gained 6.8 points to 1362 and Nasdaq 100 futures climbed 16.5 points to 2589.
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Wall Street roared higher on Thursday, with Dow tacking on 212 points in its best performance in close to a month. The gains were driven by remarks from European Central Bank President Mario Draghi indicating the central bank is willing to take steps to ease borrowing costs in embattled eurozone nations, presumably including Spain and Italy. The optimism continued into Friday, with French newspaper Le Monde reporting that the ECB is preparing a joint intervention with one or both of the eurozone's rescue funds. In what was sign as a positive sign, the yield on Spain's 10-year bonds tumbled well below the key 7% mark and recently traded at 6.88%. Still, not all news on that front was positive. Reuters reported that Spanish officials for the first time discussed the prospect of a sovereign bailout in the order of $366 billion. The separate report from the wire service also said the ECB is considering taking significant losses on Greek debt in a move to help cut the country's debt level. Private debtholders have already had to take writedowns, but the ECB and national central banks have been reluctant to make such a move. Traders are also shifting their focus to the U.S. economy. The first reading of gross domestic product from the Commerce Department showed the U.S. economy expanded at an annualized pace of 1.5% in the second quarter, in line with expectations and down from an upwardly revised 2% in the first quarter. While the report broadly matched expectations, the sentiment across trading desks remained gloomy. "The main take away from todays report, the specifics aside, is that the U.S. economy is barely growing," Dan Greenhaus, chief global strategist at BTIG wrote in a note to clients. Market participants will also get a fresh reading on consumer sentiment.
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The Reuters/University of Michigan gauge is forecast to have held steady since early July. On the earnings front, Merck (MRK: 44.28, +0.22, +0.50%) unveiled an adjusted second-quarter profit of $1.05 a share on sales of $12.3 billion, beating estimates of $1.01 a share on $12.15 billion. Commodities were broadly to the upside. The benchmark crude oil contract traded in New York climbed 21 cents, or 0.23%, to $89.60 a barrel. Wholesale New York Harbor gasoline climbed 0.61% to $2.831 a gallon. In metals, gold jumped $12.20, or 0.75%, to $1,632 a troy ounce.
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The markets fluctuated in a tight range about three-month highs on Thursday, with the S&P 500 inching higher to extend its winning streak to five days, as traders mulled a smattering of economic data.

Author Harry Dent predicts the Fed will approve QE3 and it will cause another economic crash after that stimulus eventually wears off.
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Stocks soar on jobs report

By Ben Rooney @CNNMoneyInvest August 3, 2012: 6:25 PM ET
Click the chart for more market data.
NEW YORK (CNNMoney) -- Stocks rallied Friday as a stronger-than-expected July jobs report helped lift markets for the week. The Dow Jones industrial av erage surged 217 points, or 1.7%. The S&P 500 and the Nasdaq both rose about 2%. All three indexes had been headed for a losing week before Friday's jobs report. The U.S. economy added 163,000 jobs in July , an improvement from an increase of just 64,000 in June, according to a government report. Economists surveyed by CNNMoney were predicting 95,000 jobs w ere added last m onth. "It was the perfect number for the market," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. The improvement in hiring was enough to "demonstrate the positive, albeit lackluster, underpinnings of the economy," said Luschini. At the same time, he added, it was not strong enough "for the Fed to put its gun back in its holster."
Related: Obama and jobs - a timeline
The Federal Reserv e disappointed some investors Wednesday, when it left its economic policies unchanged. However, the Fed indicated the U.S. economy is slowing and that more action could be in the cards soon. Many investors expect Fed chairman Ben Bernanke to hint at the possibility of more stimulus at the central bank's annual symposium later this month in Jackson Hole, Wyo. The Fed could then follow up by announcing a third round of asset purchases in September. The European Central Bank also failed to take any simulative action, further adding to worries about the global economy. "This is clearly a short-term ricochet based on the jobs news," said Frank Davis, director of deals and trading at LEK Securities. "The concern is what happens in Europe over the weekend."
Related: Why Knight lost $440 million in 45 minutes
In the corporate world, shares of Knight Capital Group (
KCG) rebounded 57%, after plummeting to near $2 a day earlier.
After a costly high-frequency trading mishap Wednesday, Knight is now the subject of takeover talks. The Wall Street Journal reported that Knight told its clients it had secured a line of credit to keep operating through Friday.
Fear & Greed Index
money.cnn.com/2012/08/03/investing/stocks-markets/index.htm?iid=mkt_SF_news
U.S. stocks ended in the red Thursday, after European Central Bank president Mario Draghi stopped short of announcing immediate action to contain Europe's debt crisis at the conclusion of an ECB meeting. World m arkets: European stocks closed higher. Britain's FTSE 100 added 2.2%, the DAX in Germany gained 3.9% and France's CAC 40 gained 4.4%. Asian markets ended mixed. The Shanghai Com posite rose 1.0%, while the Hang Seng in Hong Kong slipped 0.1% and Japan's Nikkei lost 1.1%. Econom y : The Institute for Supply Management said its index of activity in the services sector increased to 52.6 in July from 52.1 in June. The index was expected to come in at 52.3, according to a survey of analysts by Briefing.com. Com panies: Shares of AIG were halted in midday trading before the insurance company announced that it would buy $3 billion w orth of its ow n stock from the U.S. Treasury Department. The Treasury said it will offer a total of $4.5 billion worth of AIG common stock. AIG ( AIG, Fortune 500), once the world's largest insurance company, was bailed out by the government during the 20082009 credit crisis. Shares closed 1.6% higher on Friday. LinkedIn ( LNKD) shares jumped after the business networking site reported sales that nearly doubled from a year ago, led by a huge increase in revenue for its job posting services. Facebook ( FB ) jumped on the tech bandwagon, ending 5% higher after six straight days of losses.
Related: Facebook has no friends
Shares of Procter & Gamble ( PG, Fortune 500) finished 3% higher after the consumer products company topped earnings expectations. Revenues were in line with expectations. Kraft ( KFT, Fortune 500) said late Thursday that profits rose in the second quarter, adding that it expects continued growth in the remainder of the year. NYSE Euronext ( NYX)'s quarterly results beat Wall Street's earnings and revenue forecasts.
Currencies and com m odities: The dollar fell against the euro and British pound, but rose slightly versus the Japanese yen. Oil for September delivery rose $4.12 to $91.25 a barrel. Gold futures for August delivery rose $15.10 to $1,605.80 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.57% from 1.48% late Thursday.

Stop the presses! Apple admits it made a mistake. Obama closer to breaking even on jobs Stocks: More Bernanke, more earnings Is Sprint's comeback for real?
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Stocks Leap as U.S. Job Growth Heats Up

By Adam Samson Pub lished August 03, 2012 FOXBusiness
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FOX Business: The Power to Prosper Wall Street raced higher on Friday as traders reacted to a bigger-thanexpected increase in U.S. payrolls and scooped up stocks that were beaten down in the last session. Today's Markets As of 2:05 p.m. ET, the Dow Jones Industrial Average jumped 237 points, or 1.8%, to 13115, the S&P 500 gained 28 points, or 2.1%, to 1393 and the Nasdaq Composite rallied 65.1 points, or 2.2%, to 2975. The European Central Bank disappointed Wall Street on Thursday after it failed to take decisive steps to stem the debt crisis that has been ongoing for more than two years. The mood was more upbeat on Friday, however, as all eyes turned to the U.S. Labor Department and traders scooped up assets that were beaten down in the prior session.
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The U.S. economy added 163,000 jobs in July, better than the 100,000 gain Wall Street was expecting. The unemployment rate rose 0.1percentage point to 8.3%, compared with forecasts that it would hold steady. "The report will alleviate fears that the U.S. might be tipping back into recession," IHS Global Insight Chief U.S. econmist Nigel Gault wrote in a research note. "But uncertainties over the strength of global growth, the eurozone crisis, the fiscal cliff and the November elections are giving plenty of reasons for caution."

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Digging into the report, the labor force participation rate, which provides a look at what proportion of the population is either employed or actively seeking employment, fell 0.1-percentage point to 63.7%. The labor market, which has hit stall speed recently, has been a major focus in New York and Washington, D.C.The Federal Reserve has repeatedly noted its concern over the slowing employment growth. The central bank has said it will keep interest rates at historic lows until late 2014, and renewed its Operation Twist program, but hasn't yet been willing to unleash another round of quantitative easing. There has been talk across world trading desks that such a move could come in September, but many analysts say it will hinge on data that are received, including the employment report. Elsewhere, oil prices rallied. The benchmark crude oil contract traded in New York surged $3.48, or 4%, to $90.60 a barrel. Wholesale New York Harbor gasoline jumped 1.7% to $2.917 a gallon. In metals, gold gained $8.80, or 0.55%, to $1,600 a troy ounce. On the corporate front, Procter & Gamble (PG: 66.73, +0.01, +0.02%) posted a fiscal fourth quarter core profit of 82 cents a share, which excludes 8 cents of non-core charges. Analysts were expecting the Dow component to earn 77 cents. Sales came in at $20.2 billion, slightly shy of the $20.26 billion expected. Foreign Markets The Euro Stoxx 50 soared 4.8% to 2371, the English FTSE 100 rallied 2.2% to 5787 and the German DAX jumped 3.9% to 6866. In Asia, the Japanese Nikkei 225 sold off by 1.1% to 8555 and the Chinese Hang Seng slipped 0.12% to 19666.
Unemployment Rate Rises to 8.3%
163,000 Jobs Added in July
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Business Markets
Published: August 6, 2012 17:12 IST | Updated: August 7, 2012 00:34 IST

Oomen A Ninan
Taking cues from global markets, stock markets gained smartly on Monday. The Bombay Stock Exchange benchmark 30-Share Sensitive Index (Sensex) gained 215.03 points or 1.25 per cent to close at 17412.96. The rally was led by oil and gas stocks , automobiles and banks. However, technology, information technology and FMCG stocks ended in the negative territory. BSE-100 gained 1.07 per cent and BSE 500 was up by 1 per cent. On the National Stock Exchange, the 50-Share Nifty closed up by 66.85 points or 1.28 per cent. Finance Minister P. Chidambarams statement later in the day helped the market to end on an optimistic note. The rupee closed at 55.52 per dollar compared to its previous close of 55.75. In the intra-day it touched a high of 55.23.
Reliance shares up
Reliance Industries shares were up by Rs. 42.40 (5.71 per cent) to Rs 785.30 accompanied by huge volumes. There were reports that the company has agreed to share the accounts of its KG-D6 block with the Government. The surge was also due to reports that the benchmark Singapore gross refining margins have strengthened to $8 a barrel on an average. The company had been awarded A+ level for its sustainability report 2011-12. The report was presented by GRI (Global Reporting Initiative), Amsterdam. It takes into account guidelines laid down by the American Petroleum Institute and the International Petroleum Industry Environmental Conservation Association. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets More In: Markets | Business
Printable v ersion | Aug 1 0, 2 01 2 8:2 7 :08 AM | http://www.thehindu.com /business/m arkets/article3 7 3 4 4 4 4 .ece The Hindu
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Stocks Hit 3-Month High; Materials, Tech Shares Rally

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Pr int Em ail Shar e Com m ents Like Tw eet Shar e 4
FOX Business: The Power to Prosper Materials and technology shares posted solid gains on the day, helping Wall Street to see green for the first Monday in the last 10. Today's Markets The Dow Jones Industrial Average rose 21.3 points, or 0.16%, to 13118, the S&P 500 gained 3.2 points, or 0.23%, to 1394 and the Nasdaq Composite climbed 22 points, or 0.74%, to 2990. The S&P 500 closed at its highest level since May 2. The broad-market index is now up 10.9% for the year. The best performers on the day by a wide margin were materials stocks, like Freeport McMoran Copper and Gold (FCX: 34.34, +0.84, +2.51%). Technology posted solid gains as well, which gave the tech-heavy Nasdaq a boost. The Dow soared 217 points on Friday as traders responded to betterthan-expected data on the U.S. labor market. However, the blue-chip average only ended the week higher by 20.5 points, weighed down heavily by earlier losses. After a week filled with several major central bank meetings and a deluge of economic data, this is one kicked off on a quieter tone with no major economic releases. On the corporate front, Knight Capital (KCG: 3.07, -0.98, -24.20%) said
White Knight: Knight Capital Gets $400M Rescue
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White Knight: Knight Capital Gets $400M Res cue Fed Chief: Fam ilies Not Feeling Econom ic Recover y Eur ozone Action: Policy vs . Gam e of Chick en
in a filing Monday that it has struck a deal in which a group of investors will inject $400 million in exchange for 2% convertible preferred stock in the struggling market maker. These investors will get a roughly 70% stake in the company, according to an analysis by Reuters. This rescue comes after Knight made erroneous trades last week that cost it $440 million. Best Buy (BBY: 19.99, +2.35, +13.32%) Founder Richard Schulze proposed to take the retailer private for between $24 and $26 a share. That represents a premium of between 36% and 47% premium to Fridays closing value. In Europe, Spain's 10-year borrowing costs were at 6.78% on the secondary market, lower than the key 7% mark that has been watched. Equity markets in that country experienced a technical glitch that halted trading, according to a report by Reuters. Commodities markets were little changed. The benchmark crude oil contract in New York climbed 80 cents, or 0.88%, to $92.20 a barrel. Wholesale New York Harbor gasoline slumped 0.3% to $2.922 a gallon. In metals, gold climbed $6.90, or 0.43%, to $1,616 a troy ounce. Foreign Markets The Euro Stoxx 50 jumped 1.3% to 2399, the English FTSE 100 gained 0.37% to 5809 and the German DAX climbed 0.77% to 6919. In Asia, the Japanese Nikkei 225 soared 2% to 8726 and the Chinese Hang Seng rallied 1.7% to 19999.
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Materials and technology shares helped Wall Street to see green for the first Monday in the last 10 and the S&P 500 index closed at a three-month high.
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Led by interest-ate sensitive stocks, the Sensex on Tuesday jumped by nearly 189 points to a one-month high of 17,601.78 on hopes of interest rate cut and slew of economic reforms after Finance Minister P Chidambaram unveiled a roadmap to prop up growth. After resuming higher in early trade, the BSE benchmark index kept on accumulating gains throughout the session as investors bought shares in auto, realty and banking sectors. Sensex hit an intra-day high of 17,641.55, its highest in 4 months, before closing at 17,601.78 -- 188.82 points or 1.08 per cent higher over yesterdays closing. This is the highest closing since July 10 when it had closed at 17,618.35. Smart rise in stocks including ICICI Bank, Tata Motors, TCS, HDFC, SBI, L&T and Bajaj Auto helped Sensex log over one per cent gains for the second day in a row. Brokers said IT stocks, including Infosys, rose after US-listed Cognizant stood by its full-year revenue forecast while interest-rate sensitive stocks rose after the new FM indicated a possible rate cut. Sometimes it is necessary to take carefully calibrated risks in order to stimulate investment and to ease the burden on consumers. We will take appropriate steps in this regard, Mr Chidambaram said yesterday. Speculation is on in the market for possible rate cut, said Nidhi Sarswat, Sr Research Analyst, Bonanza Portfolio. All sectoral indices closed higher, barring Oil& Gas and Consumer Durables. Investor wealth swelled by over Rs 40,000 crore to Rs 61.75 lakh crore today as over 1,500 stocks rose. Keywords: Bombay Stock Exchange
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Printable v ersion | Aug 7 , 2 01 2 8:3 3 :57 PM | http://www.thehindu.com /business/m arkets/article3 7 3 82 1 0.ece The Hindu
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Stocks gain on hopes for central bank action

By Ben Rooney @CNNMoneyInvest August 7, 2012: 4:29 PM ET
NEW YORK (CNNMoney) -- U.S. stocks rose Tuesday, extending gains for a third day, as investors continue to bet global central banks will step in to support the market. The Dow Jones industrial av erage and the S&P 500 both rose about 0.5%. The Nasdaq gained nearly 0.9%. All three indexes are at their highest levels since early May. Ryan Detrick, senior technical strategist at Schaeffer's Investment Research, said investors are "content" with the policies central bankers in Europe and the United States are expected to take to support the economy. "There's a bit more confidence that the ECB and the Fed will do what they can to stave off a worldwide recession," he said. Hopes for more action by the Fed were fueled by comments from Boston Fed president Eric Rosengren. Rosengren, who is not currently a voting member of the Fed's policy committee, told the Wall Street Journal that the central bank needs to take "more substantive action than we've taken to date." Specifically, Rosengren called for an aggressive, open-ended policy of buying bonds, known as quantitative easing. However, the Fed alone does not have the tools to promote growth and remains hesitant to act, said Mohamed El-Erian, chief executive of asset manager Pimco. "The best the Fed can do is postpone the storm," El-Erian told CNN's Ali Velshi.
Related: Quarterly earnings: Not that great, about to get worse
Meanwhile, investors continue to focus on corporate sales and earnings data. While many bellwether companies have already reported second-quarter results, investors are still watching corporate earnings for clues about the health of the broader economy. Econom y : Consumer credit increased by $6.5 billion in June, according to data from the Federal Reserve. Economists had expected consumer credit to have risen by $10 billion, according to a survey of analysts by Briefing.com. Com panies: Pfizer ( PFE, Fortune 500) discontinued clinical studies on an Alzheimer drug it was developing with a subsidiary of Johnson & Johnson ( JNJ , Fortune 500). Separately, Pfizer settled charges by the SEC that it bribed doctors and government officials in several overseas markets. Shares of Fossil ( FOSL ) surged more than 30% after the watch retailer's second-quarter profit jum ped 12% and
topped forecasts.
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Chesapeake Energy ( CHK , Fortune 500), which has been in the spotlight amid takeov er chatter and a m anagem ent shakeup, posted second-quarter revenue that topped expectations. Shares of Leap Wireless ( LEAP) hit a new 52-week low, after the pre-paid cellphone company said it lost 289,000 custom ers in the second quarter. The company's management said is now considering selling assets to stay afloat. Best Buy's ( BBY , Fortune 500) stock was slightly lower one day after the company's founder and major shareholder, Richard Schulze, offered to take the electronics retailer private at $24 to $26 a share, a 36% to 47% premium. Shares of Apple ( AAPL , Fortune 500) edged lower Tuesday but have rebounded more than 8% since a 4% pummeling the day after it missed forecasts and guided lower. Apple shares are now just 3% below the all-time high of $644 set in April. Sirius ( SIRI) shares got a lift after the satellite radio company raised its annual profit forecast.
Disney ( DIS, Fortune 500), one of the Dow's best performers this year, said it earned $1.01 per share on revenue of $11 billion in the company's fiscal third quarter. Analysts had forecast earnings of 93 cents per share on revenue of $11.3 billion. Results due later in the week include Disney rival News Corp ( J.C. Penney ( JCP, Fortune 500). NWSA , Fortune 500), Macy's ( M, Fortune 500) and
Shares of Standard Chartered fell on the London Stock Exchange after banking regulators in New York accused U.K.based banking group of helping Iran avoid sanctions by concealing $250 billion worth of transactions over nearly 10 years. World m arkets: European stocks closed higher. Britain's FTSE 100 rose 0.2%, while the DAX in Germany gained 0.5% and France's CAC 40 added 1.4%. Asian markets finished higher. The Shanghai Com posite ticked up 0.1%, the Hang Seng in Hong Kong rose 0.4% and Japan's Nikkei gained 0.9%. Currencies and com m odities: The dollar fell against the euro and British pound, but rose versus the Japanese yen. Oil for September delivery rose $1.47 to settle at $93.67 a barrel. Gold futures for August delivery fell $3.20 to $1,609.70 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.63% from 1.56% late Monday.

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Stocks Climb on Central Bank Hopes; S&P Crosses 1400 Mark

By Adam Samson
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Pub lished August 07, 2012
FOXBusiness
FOX Business: The Power to Prosper The markets climbed on Tuesday, with the broad S&P 500 rising above the 1400 threshold for the first time in three months, as traders responded favorably to hints that central banks may act to boost the global economy. Today's Markets As of 3:13 p.m. ET, the Dow Jones Industrial Average rose 64.3 points, or 0.49%, to 13182, the S&P 500 gained 8.1 points, or 0.58%, to 1402 and the Nasdaq Composite climbed 28.3 points, or 0.94%, to 3018. The S&P 500 has tacked on more than 2% in the past three trading days, pushing the broad-market index higher by greater than 10% for the year. With the economic calendar light, traders have been paying close attention to the eurozone debt crisis. European Central Bank Governing Council member Ardo Hansson told the Wall Street Journal that the central bank could make "substantial" purchases of sovereign debt of embattled countries. Hansson told the paper that the buying would be in conjunction with the eurozone's rescue funds, and would hinge on certain conditions that still push countries to reform. Potentially, a large-scale program to purchase government bonds could help keep borrowing costs in check. The yield on Spain's 10-year bonds, which has been particularly closely watched, remained at 6.78% -- elevated, but below the 7% level that has prompted bailouts in the past. The cost of insuring the country's debt against a default, however, rose slightly on the day, according to financial data firm Markit. Separately Boston Central Bank President Eric Rosengren told the Journal that the central bank needs to take much more aggressive action to boost the U.S. economy, including purchases of mortgage-backed securities and potentially Treasury securities. "We need a pro-growth monetary policy," Rosengren, who does not currently command a vote on the Federal Open Market Committee, told the paper. In corporate news, shares of Standard Chartered plunged more than 20% in London trading after a New York regulator accused the U.K. bank of scheming with Iran on billions of dollars of transactions and threatened to revoke its banking license.
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Energy prices rallied after a fire at a Chev ron (CVX: 112.63, +0.49, +0.44%) refinery in California threatened to cut supplies on the West Coast. The benchmark contract traded in New York jumped $1.47, or 1.6%, to $93.67 a barrel. Wholesale New York Harbor gasoline zoomed higher by 2.4% to $2.991 a gallon. In metals, gold fell $3.40, or 0.21%, to $1,613 a troy ounce. Foreign Markets The Euro Stoxx 50 rallied 1.7% to 2440, the English FTSE 100 jumped 0.56% to 5841 and the German DAX ticked up by 0.71% to 6968. In Asia, the Japanese Nikkei 225 jumped 0.88% to 8803 and the Chinese Hang Seng rose 0.37% to 20073.
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Stocks Inch Higher, Look to Extend Winning Streak

By Adam Samson
Pr int Em ail Shar e Com m ents Like Tw eet Shar e 2 35
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FOX Business: The Power to Prosper After a quiet morning session, stocks drifted higher in afternoon action as traders mulled news on several big U.S. companies and oil prices rose. Today's Markets As of 3:00 p.m. ET, the Dow Jones Industrial Average rose 5.6 points, or 0.04%, to 13174, the S&P 500 fell 0.2 point, or 0.01%, to 1401 and the Nadsaq Composite slipped 5.5 points, or 0.18%, to 3011. The broad S&P 500 closed above the closely watched 1400 mark for the first time since May 2 on Tuesday, and is now up by 1.6% for the month and 11.4% for the year. Posturing from world central banks that more stimulus measures may be on the horizon has helped keep the bullish sentiment going strong. In corporate news, McDonald's (MCD) revealed global same-store sales that were unchanged in July, worse than expectations of a 2.3% increase. Macys (MCD: 87.15, -0.38, -0.43%) revealed second-quarter earnings of 67 cents a share on sales of $6.12 billion, beating estimates of 64 cents a share on $6.1 billion. The big retailer also lifted its full-year EPS guidance to a range of $3.30 to $3.35 from $3.25 to $3.30. Hewlett-Packard (HPQ: 19.41, 0.00, 0.00%) bumped up its adjusted third-quarter profit forecast to $1 a share. The blue-chip technology company had previously projected earnings of between 94 cents and 97 cents. Starbucks (SBUX: 45.11, -0.18, -0.40%) revealed plans to make a $25 million investment in mobile payment processor Square. The coffee chain will roll the service out in 7,000 of its stores.
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The Bank of England weighed in on the day with its quarterly inflation report. Charts within the report showed Britain's central bank now expects the U.K. economy to shift back into an expansion of 1% on an annualized basis by the end of this year. Growth is expected to come in at roughly 2% by the end of next year, down from 2.5% in an earlier estimate. Meanwhile, the BoE said inflation is expected to stay below its target through its forecast period that reaches into 2015. The central bank already has interest rates set at 0.5%, and has a roughly $585 billion quantitative easing program. However, BoE Governor Mervyn King
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suggested the bank is likely to hold off on lowering rates any further as it may actually do more harm than good for Britain's economy. Also on the European front, Fitch affirmed Germany's top-notch 'AAA' credit rating and said its outlook is stable. Elsewhere, oil futures got a lift on data from the Energy Department showed stocks of crude oil fell more than seven times more than expected last week. The benchmark contract traded in New York gained 34 cents, or 0.36%, to $94.01 a barrel. Wholesale New York harbor gasoline rose 0.44% to $3.01 a gallon. In metals, gold gained $3.50, or 0.2%, to $1,616 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.33% to 2432, the English FTSE 100 rose 0.08% to 5846 and the German DAX slipped 0.03% to 6966. In Asia, the Japanese Nikkei 225 jumped 0.88% to 8889 and the Chinese Hang Seng edged lower by 0.04% to 20189.
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S&P Notches Sixth-Straight Daily Win; Stocks End Week Higher

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Pr int Em ail Shar e Like Tw eet Shar e 0 48
FOX Business: The Power to Prosper All three major market averages ended the week to the upside, with the S&P 500 advancing for the sixth day in a row, as Wall Street capped a quiet trading session. Today's Markets The Dow Jones Industrial Average gained 42.8 points, or 0.32%, to 13208, the S&P 500 climbed 3.1 points, or 0.22%, to 1406 and the Nasdaq Composite rose 2.2 points, or 0.07%, to 3021. For the week, the biggest gains by a wide margin could be found within the materials, energy and technology sectors and consumer staples posted the biggest losses. The Dow climbed 0.85%, the S&P rose 1.1% and the Nasdaq gained 1.8%, helped my the strong performance among tech stocks. The struggling world economy has come sharply back into focus on Friday. Export growth in China plunged to a year-over-year rate of 1% in July from 11.3% in June. Economists were expecting a much stronger reading of 8%. Import expansion also slowed down to 4.7% from 6.3%. "The across-the-board deceleration in July exceeded our expectations," analysts at Barclays wrote in a note to clients following the report. They noted, however, that the generally downbeat data may spark policy action from Beijing.
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Want to Know Wher e the Mar k et is Headed? Watch the VIX Apple Logs Fr es h All-Tim e High, iPhone Eyed
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"We think policymakers may be more inclined to stabilise growth owing to concerns about job losses," they wrote. "An imminent monetary policy move, such as rate cuts, cannot be ruled out." On the U.S. front, the Labor Department reported import prices fell 0.6% in July, the fourth straight month of declines. Export prices ticked up 0.5% last month, more than analysts expected. On a year-to-year basis, import prices were down 3.2% in the steepest monthly decline since October 2009. Export prices fell 1.2% on the same basis. In corporate news, shares of J.C. Penney (JCP: 28.82, +0.16, +0.56%) tumbled and then rebounded as analysts made sense of a bigger-thanexpected quarterly loss. Chief Executive Officer Ron Johnson, who formerly ran Apple's (AAPL: 691.28, +8.30, +1.22%) retail division, has been working to turn the ailing retailer around, but signs have been mixed as to whether the plan will be a success. Goldman Sachs (GS: 121.36, +0.69, +0.57%) and its employees will not face criminal charges for certain trades made during the financial crisis, the Justice Department said late on Thursday. This came as a relief for the big investment bank, which said in a statement that it is "pleased" to have the matter done with. Manchester United (MANU: 12.45, +0.06, +0.48%) debuted on the New York Stock Exchange on the day, rising slightly past its initial public offering price of $14 a share. Commodities markets were mixed. Crude oil traded in New York fell 46 cents, or 0.52%, to $92.87 a barrel. Wholesale New York Harbor gasoline rose 0.19% to $3.01 a gallon. In metals, gold gained $3.20, or 0.19%, $1,623 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.57% to 2423, the English FTSE 100 slumped 0.08% to 5847 and the German DAX dipped 0.5% to 6945. In Asia, the Japanese Nikkei 225 sold off by 0.97% to 8891 and the Chinese Hang Seng slid 0.66% to 20136.
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Stuck No Longer: Cisco Carries S&P 500 to 4-Month Highs

By Matt Egan Published August 16, 2012 FOXBusiness
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Breaking through resistance and sluggish August sentiment, the S&P 500 leaped to its highest level since early April on Thursday as tech bellwether Cisco Systems surged 10% and concerns about the euro eased a bit.
Todays Markets The Dow Jones Industrial Average rose 85.33 points, or 0.65%, to 13250.11, the S&P 500 gained 9.98 points, or 0.71%, to 1415.51 and the Nasdaq Composite jumped 31.46 points, or 1.04%, to 3062.39. The FOX 50 picked up 5.87 points, or 0.56%, to 1061.50. Wall Street started the day in the doldrums once again, failing to respond definitively to another series of conflicting economic gauges on housing starts and initial jobless claims.
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But buying picked up steam late in the morning as the euro advanced on comments from Angela Merkel and tech stocks rallied around an earnings beat and upbeat guidance from Cisco Systems (CSCO: 19.02, +1.67, +9.63%). The rally leaves the S&P 500 at heights unseen in four months and within just a few points of a new four-year high. Also, all three major indexes are now on track to advance for the sixth consecutive week.
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The market is in a good place. Weve bottomed here economically. Things have really stabilized, said Jason Weisberg, senior vice president at Seaport Securities. Most of the Dow's 30 stocks gained ground, led by Home Depot (HD: 56.31, +1.31, +2.38%) and Cisco. The index's weakest performers were McDonald's (MCD: 87.46, -0.35, -0.40%) and Wal-Mart (WMT), which disclosed weaker-than-expected revenue growth. Trading volume remains relatively quiet, however the New York Stock Exchange broke its three-day slump of less than 3 billion shares traded.
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Were moving up on vapor volume," said Weisberg. Still, Cisco helped carry Wall Street solidly higher on Thursday after the tech bellwether revealed a 56% leap in quarterly earnings and an unexpected dividend boost. Importantly, the tech giant's outlook met expectations and CEO John Chambers sounded an optimistic tone about the economy, especially in the U.S. The news helped lift other tech stocks like SanDisk (SNDK: 42.70, +1.14, +2.74%) and Oracle (ORCL: 32.03, +0.48, +1.52%). In Europe, German Chancellor Angela Merkel said Germany is committed to do what's necessary to maintain the euro, mirroring comments made by European Central Bank President Mario Draghi last month. The remarks helped send the euro to session highs, rising 0.56% to $1.2355 as U.S. markets closed. Likewise, European stocks rallied, with the Euro Stoxx 50 climbing 1.1% to fresh four-month highs and Spain's IBEX surging 4%. The Europeans have been talking since 2008. I think the investment community is getting a little bit tired of the words and they want to see actions, said Weisberg. Meanwhile, basic materials stocks such as BHP Billiton (BHP: 69.21, +1.00, +1.47%) received a bid after Chinese Premier Wen Jiabao opened the door to new stimulus. Warning the "downward pressure" on China's economy is "still big" and "may last for a while," Wen said he sees "growing room for monetary policy operation." China's gross domestic product is projected to slow to just 8% in 2012, its weakest performance since 1999. In commodities, crude oil gained for the third day in a row, jumping $1.27 a barrel, or 1.35%, to $95.60 -- its highest settle since May 11. Gold picked up $12.40 a troy ounce, or 0.77%, to $1,616.10. Data Deluge Paints Mixed Picture U.S. stocks hit session lows after the Philadelphia Federal Reserve's manufacturing index came in at -7.1 in August, up from -12.9 in July but missing forecasts from economists for -5 and marking the fourth consecutive contraction. Inside the report, the six-month index was at its lowest level in a year and the employment component tumbled to its weakest level since September 2009. The weaker-than-expected Philly Fed report comes a day after a New York manufacturing gauge unexpectedly turned negative in August.
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[What's This?]
Meanwhile, the Labor Department said initial jobless claims rose by 2,000 last week to 366,000, just slightly trailing forecasts from economists for a rise to 365,000. As usual, the government upped its estimate for the previous week to 364,000 from 361,000. Still, the fourweek average of claims slipped by 5,500 to 363,750 -- the lowest level since the end of March. On the housing front, the government said housing starts declined in July by 1.1% to a pace of 746,000, missing forecasts for a lighter decline to 756,000. However, building permits jumped 6.8% last month to a rate of 812,000 -- the highest level in four years. Home builders like Pulte (PHM: 13.60, +0.82, +6.42%) and Hovnanian (HOV: 2.64, +0.14, +5.60%) advanced on the news. Corporate Movers Wal-Mart (WMT: 72.15, -2.30, -3.09%) narrowly topped expectations with a 5.7% rise in second-quarter earnings. While a 4.5% rise in sales missed forecasts, the worlds largest retailer upped its full-year profit targets. Facebook (FB: 19.87, -1.33, -6.27%) tumbled another 6% and broke through $20 a share to hit new all-time lows as the lock-up period expired, allowing some insiders to start selling. The social network's stock has crumbled 48% from its $38 debut price in May. Electronic Arts (EA: 13.81, +0.72, +5.50%) rallied almost 6% after the New York Post reported the video-game publisher is exploring a sale. The maker of Madden NFL and Sim City has been approached by private-equity firms KKR (KKR: 14.52, 0.00, 0.00%) and Providence Equity Partners, the paper said. Best Buy (BBY: 20.41, +1.05, +5.42%) climbed 5% after founder Richard Schulze asked the electronic retailers board to OK a request to form a group to conduct due diligence. Earlier this month Schulze offered to take Best Buy private for $24 to $26 a share. Dollar Tree (DLTR: 49.11, -0.89, -1.78%) retreated 3% after posting an in-line 26% jump in second-quarter earnings that was overshadowed by a weaker-than-expected outlook for the third quarter. GameStop (GME: 17.98, +0.93, +5.45%) narrowly topped estimates with EPS of 16 cents, but suffered a deeper-than-expected 11.1% dive in sales to $1.55 billion. The worlds largest video game retailer projected third-quarter EPS of 28 cents to 36 cents, below the Streets view of 41 cents. Global Markets The U.K.s FTSE 100 gained 0.03% to 5834.51, the German DAX advanced 0.71% to 6996.29 and Frances CAC 40 jumped 0.91% to 3480.49 -- its highest close since March 26. In Asia, Japans Nikkei 225 soared 1.88% to 9092.76 and the Hong Kong Hang Seng declined 0.45% to 19962.95.
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Stocks end higher on Cisco earnings, economic data - Aug. 16, 2012
Page 1 of 2
Stocks end higher on Cisco earnings, economic data

By CNNMoney Staff @CNNMoneyInvestAugust 16, 2012: 4:35 PM ET
NEW YORK (CNNMoney) -- U.S. stocks closed solidly higher Thursday, as investors parsed through a mixed bag of economic data. The Dow Jones Industrial Average and the S&P 500 ended the day up 0.6%. The Nasdaq added 1%. Cisco Systems helped fuel the rally after reporting a quarterly profit and sales Wednesday that rose from year-ago results and beat Wall Street's forecasts. It also boosted its dividend by 75%. Shares of Cisco ( CSCO, Fortune 500), a Dow component, rose more than 9%. Weekly figures for initial jobless claims increased, but came in lower than expected. Meanwhile, reports on housing starts and building permits showed further momentum in the housing market. The afternoon rally after a mostly flat morning came without any clear catalyst. "There's an old Wall Street saying to never short a dull market," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research. The low-volume trading day, he said, "increases the odds of a sharp spike like today with everyone wondering what just happened." Investors have grown more optimistic on the state of the housing market. Home prices and new construction have started to pick up in recent months as foreclosures have slowed. Still, it's been difficult for investors to find a theme to trade on, said several market watchers. "We've seen some economic data that's been marginally positive, but overall the market narrative hasn't meaningfully changed over the last few weeks," said Joe Tanious, global market strategist at J.P. Morgan Asset Management. What has the potential to alter the narrative: another round of bond buying by the Federal Reserve. Investors are waiting to see whether Fed chairman Ben Bernanke will announce a so-called QE2 in his Jackson Hole, Wyoming speech at the end of the month.
Social Media bubble pops
One exception to the slow volume of the past several weeks: Facebook ( FB). More than 150 million shares changed hands Thursday, pushing the stock down as much as 7% to an all-time low, as the social media company's "lock-up period" expired. Facebook's insiders became eligible to sell off about 271 million shares Thursday, the first of a series of lock-up expirations for the company.
Fear & Greed Index
Companies: Second quarter results from Wal-Mart Stores ( , Fortune 500) showed that the retailer is still doing well in a sluggish economy. The company upped its forecast for the year's profits. However, both Wal-Mart and Sears Holdings ( ,
http://money.cnn.com/2012/08/16/investing/stocks-markets/index.html?iid=HP... 16-Aug-2012
Stocks end higher on Cisco earnings, economic data - Aug. 16, 2012
Page 2 of 2
Fortune 500), which also reported results, missed on revenue expectations. Wal-Mart's stock slid but Sears shares moved higher. Shares in two companies, Electronic Arts ( ) and Redbox parent company Coinstar ( CSTR), soared on takeover speculation. The New York Post reported that both companies are targets for private equity firms. Economy: The number of people filing for first-time jobless claims in the week ended Aug. 11 rose by 2,000 to 366,000, according to the Labor Department. The weekly figure came in lower than analysts' estimate of 368,000. Housing market data also came in better than expected, with housing starts up almost 22% from a year earlier, while building permits rose nearly 30% from July 2011. The Philadelphia Federal Reserve said manufacturing in the mid-Atlantic region contracted again in August. The index came in at minus 7.1, weaker than the forecast of minus 5.. The figure was an improvement from minus 12.9 in July. World Markets: European stocks closed higher. Britain's FTSE 100 finished the day up 0.03%. France's CAC 40 added 0.7%, and the DAX in Germany edged 0.9% higher. Asian markets closed mixed. The Shanghai Composite shed 0.3% and the Hang Seng in Hong Kong fell 0.5%, while Japan's Nikkei gained 1.9%. Currencies and commodities: The dollar rose against the euro and Japanese yen, but slipped against the British pound. Oil for September delivery notched up $1.27 to $95.60 a barrel. Gold futures for December delivery rose $12.60 to $1,619.20 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury moved up slightly, pushing the yield up to 1.84% from 1.81% late Wednesday.
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Stocks rally on growing hope of Fed action

By Emily Jane Fox @CNNMoneyInvest August 24, 2012: 4:42 PM ET
Click the chart for more stock markets data
NEW YORK (CNNMoney) -- U.S. stocks ended the week on a high note, as investors hope that the central bank will step in with stimulus measures to fuel growth. The Dow Industrial Av erage added 0.8%, the S&P 500 gained 0.7% and the Nasdaq rose 0.5% on Friday. Analysts said investors were reacting to a letter sent by Federal Reserv e Chairm an Ben Bernanke to the chairman of the House oversight committee, Rep. Darrell Issa, that said the central bank has more room to support the economy. "There is scope for further action by the Federal Reserve to ease financial conditions and strengthen the recovery," Bernanke wrote. "On a slow Friday that's enough to give markets a boost," said Paul Zemsky, chief investment officer at ING Investment Management. Few expect Bernanke to reveal specific new intervention measures at the central bank's annual symposium next week in Jackson Hole, Wy o,. but minutes from the Fed's last m eeting released earlier this week suggested the central bank was leaning more toward launching a third round of quantitative easing, or QE3.
Fear & Greed Index
Zemsky also said that investors are hopeful some resolve will come out of Europe as talks among eurozone leaders took place. Greek Prim e Minister Antonis Sam aras wrapped up a meeting with German Chancellor Angela Merkel on Friday in Berlin. She reiterated her support for Greece to stay in the eurozone, but said that the debt-strapped country needs to meet its reform targets, and that she will wait for the report by the European Union, International Monetary Fund and ECB, known as the troika, which is due next month. Samaras will meet with French President Francois Hollande Saturday. "Europe is the bigger lever here for the next few weeks, because there's not much different for Bernanke can say," Zemsky said. In the United States, trading v olum e has been light for weeks, which is typical in August. Most expect that trend to continue through Labor Day. U.S. stocks ended the week slightly lower, with the Dow ticking down 0.9%, the S&P losing 0.5% and the Nasdaq shedding 0.2%.
money.cnn.com/2012/08/24/investing/stocks-markets/index.html?iid=HP_LN
World Markets: European stocks pared earlier losses Friday. Britain's FTSE 100 ended the day flat, while the DAX in Germany rose 0.3%, and France's CAC 40 gained 0.2%. Asian markets ended in the red. The Shanghai Com posite lost 1%, the Hang Seng in Hong Kong dropped 1.3%, and Japan's Nikkei fell 1.2%. Econom y : Durable goods orders rose 4.2% in July, more than the 2.5% increases analysts were expecting. But excluding transportation goods, orders unexpectedly fell 0.4% last month, according to the Census Bureau. Com panies: In a ruling that will not affect the U.S. patent infringement trial now in the hands of a California jury but addresses many of the same issues, a South Korean court has delivered a split decision that slightly favors Sam sung over Apple ( AAPL , Fortune 500).
Related: Apple vs. Samsung: Three possible outcomes
Shares of software designer Autodesk ( Thursday.
ADSK ) slid 16% after the company reported disappointing earnings late
Shares of Eli Lilly ( LLY , Fortune 500) jumped after the drugmaker said that although its experimental Alzheimer's drug didn't meet its main goals, it did show significant improvement in some patients. Currencies and com m odities: The dollar rose against the euro, the British pound and the Japanese yen. Oil for October delivery fell 11 cents to $96.15 a barrel. Gold futures for December delivery dropped $1.80 to $1,671. an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury held at 1.68%.

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Wall Street Posts Third-Straight Monthly Advance

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FOX Business: The Power to Prosper Wall Street capped August in rally mode as traders remained optimistic that the Fed will unleash further measures to boost the U.S. economy. The major market averages also ended the month to the upside. Today's Markets The Dow Jones Industrial Average jumped 90.1 points, or 0.69%, to 13091, the S&P 500 gained 7.1 points, or 0.51%, to 1407 and the Nasdaq Composite climbed 18.3 points, or 0.6%, to 3067. For the month, the Dow edged up by 0.6%, the S&P 500 jumped 2% and the Nasdaq zipped higher by 4.4%. Technology, consumer discretionary and financial stocks posted the biggest gains. On the other side of the spectrum, safety plays like utilities and consumer staples struggled. The world economy has come squarely into focus in recent days. At a closely-watched speech at the Federal Reserves economic symposium in Jackson Hole, Wyoming, the central banks Chairman Ben Bernanke said current economic conditions are "far from satisfactory." In particular, he called the slowly recovering labor market a "grave concern" and warned the Fed alone cant shore up the economy. He also defended the traditional and non-traditional tools the central bank has used in propping up the economy, but came short of suggesting what further actions will be taken. The Fed is currently engaged in a plan by which it is extending the maturity of its balance sheet without increasing its size, but has repeatedly said it stands ready to do more.
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Ber nank e Pr ovides Few Clues on Fur ther Stim ulus
Indeed, in minutes released last week it was revealed the Fed governors discussed what means the central bank can take to boost the slowly growing economy. Among the items discussed was the potential of buying either Treasury or mortgage-backed assets. Market participants broadly saw the speech as supporting a dovish tone from the Fed, without adding much new information. "Mr. Bernanke has made it clear that more needs to be done, but does so without hinting at the timing of when more monetary policy easing could be delivered," analysts at Nomura wrote in a note to clients.
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In a sign of light trading has been of late, only 2.4 billion shares traded hands on the New York Stock Exchange on Thursday. It was the lightest full trading day of the year, and the twelfth time this month volume came in below 3 billion shares. Traders also got a handful of economic reports. A final reading on consumer sentiment for the month of August checked in at 74.3, higher than a preliminary reading of 73.6, according to a survey by Thomson Reuters and the University of Michigan. The expansion in the manufacturing sector in the Midwest cooled down slightly in August. The Institute for Supply Management-Chicago's ISM gauge fell to 53 in August from 53.7 in July, short of economists expectations of 53.5. The broad markets are looking to close out the month on a high note. The S&P 500 is up 1.5% and the Nasdaq is 3.7% to the upside. The narrower Dow, however, is essentially flat for the month. Commodities markets rallied. The benchmark crude oil contract in New York jumped $1.38, or 1.5%, to $96.02 a barrel. Wholesale New York Harbor gasoline climbed 1.2% to $3.119 a gallon. In metals, gold gained $25.80, or 1.6%, $1,683 a troy ounce. Foreign Markets The Euro Stoxx 50 rallied 1.5% to 2441, the English FTSE 100 dipped 0.14% to 5711 and the German DAX jumped 1.1% to 6971. In Asia, the Japanese Nikkei 225 sold off by 1.6% to 8840 and the Chinese Hang Seng dipped 0.36% to 19483.
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Obama Defends Path Democrats Offer President Obama accepted the Democratic nomination for another term in office Thursday night, launching into his convention address by recalling and defending his message of hope.
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What Business Wanted to Hear from the President President Barack Obama took the stage last night to accept the Democratic nomination for president, but there is one group in particular he needed to reach: the business community. Amazon Unveils New Kindle Models Amazon fired the latest shot in the tech wars heating up ahead of Apple's big announcement next week at which the world's largest company is expected to launch the iPhone 5: the Kindle Fire HD 4G LTE. What to Look for in a Student Checking Account Students relocating to campus for the start of the semester may be looking for a new bank or credit union to establish a checking account to execute all of their monetary needs. Massive Layoffs Underway at Nomura Gasparino: Hundreds of jobs are at risk as the Japanese financial heavyweight shrinks down its U.S. equities division.
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9/7/12 The Hindu : Business / Markets : Sensex soars 337 points on ECBs bond buying plans
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Sensex soars 337 points on ECBs bond buying plans
PTI
Stock brokers at a brokerage firm in Mumbai. File photo
The Hindu
Led by ICICI Bank and RIL, the Sensex on Friday surged over 337 points -- the biggest single day gain in two months - on all-round buying by funds after European Central Bank announced a potentially unlimited bond-buying plan to revive Eurozones ailing economies. The BSE benchmark index, which had gained 33 points ahead of the ECB meet on Thursday, was off to a rollicking start on Friday tracking overnight gains in U.S. stocks and early Asian cues. The 30-share Sensex opened 229 points higher and thereafter built on gains with ICICI Bank, RIL, Infosys and L&T leading the rise. Sensex finally ended at 17,683.73, up 337.46 points, or 1.95 per cent. The Sensexs gains were supported by Tata Steel that rose 5.72 per cent, Tata Motors (4.40 pc), Hindalco (3.39 pc) and Sterlite (2.83 pc). Friday was the best single day performance since June 29 when Sensex rose by 439 points. Overall, nearly 1,800 stocks rose and investor wealth surged by Rs 84,000 crore. Brokers said trading sentiment was bolstered as ECBs new bond buying plan will likely lower the borrowing costs for the regions debt-ridden nations and ease fears over euros fate. Capital stocks were among the best performers on the back of foreign funds flow while realty and metal stocks were also among the biggest gainers. Most banking stocks, including ICICI Bank up 4.68 per cent and SBI which gained 2 per cent, also rose on expectations of a rate cut in RBIs policy meet on September 17, said dealers. RIL rose 3.08 per cent to Rs 791 on reports of a foreign upgrading its rating. This (ECBs plan) means that, the prospect of defaults by sovereigns has reduced in EU. That supported markets, said Dipen Shah, Head of Private Client Group -- Research, Kotak Securities. The 50-share NSE index Nifty rose by 103.70 points, or 1.98 per cent to 5,342.10. Keywords: BSE, NSE, Sensex, Nifty, ECB bond buying plan More In: Markets | Business
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Don't look now, but Europe is rallying

Germany is in a flat-out bull run, and France and Italy are also up.
By Jim Cramer 2 hours ago
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The rally that wasn't continues, and it continues with breathtaking power. I am talking about the rally in European stocks, a rally signaling that the ECB solution -- temporary or otherwise -- to come to grips with the near collapse of many countries and most banks in the eurozone. With the increase of 22% in the German Bourse, you have to admit they are having a flat-out bull market. Germany is red hot, and you've got an out-of-bonds-intostocks virtuous thing going on over there that's pretty spectacular. France continues to rally with tremendous conviction and is now up about the same amount as our S&P 500 -- not bad, given that many analysts had bet that one, if not all three, major French banks would have a Lehman-like event. But here's one not to be believed: Italy is up 7%. Isn't Italy bankrupt? Shouldn't we be shorting the heck out of everything Italy? Isn't it Greece? Not if your stock market is up 7%. There you have the oddity of money going into both bonds and stocks, although I'm sure most people think that the Italian bond market, the third-largest in the world, is one big phony. I'm no longer sure. Finally there's a market that, while not in the black, continues to run wild with a virtual Pamplona stampede: Spain. Spain is down 7% for the year, but you have had monster gains in individual stocks, and that's what I want to focus on for one moment. I have shouted to the rooftops that the key to this crisis is Banco Santander. Why? Because it is big enough, especially relative to its mother country, and leveraged enough, especially considering the United States in 2008, to be Lehman Bros. It can't be allowed to fail. In fact, it has to prosper, because the hope is that one bank, or maybe two with BBVA, can be used to save the Spanish banking system. Given that Santander also has a huge number of government bonds, it is the perfect microcosm for the problem. Now, here's what's happening. SAN has had a gigantic and sustained move from $4.88 to $7.50.That's a sign that the bank is coming back to life, courtesy of IPOs from some of its worldwide empire -- only 20% of its business is Spain -- but also because of the ECB's bond-buying program. Santander has already issued debt to help its balance sheet at very successful prices. But you have to understand that it will be able to raise a huge amount of equity if it wants to in a deal that everyone will want to play in if we know that deposits in SAN are going to be guaranteed in euros. Wait, Jim, wouldn't that mean that every bank would have to issue the same guarantee, putting the government on the hook for all of it?
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No, not if you forced all the other banks into mergers with SAN and BBVA. Hey, why not just have two banks in Spain. Britain and France don't have all of that many. I know, farfetched. But I am using it only as an example, an example of what can happen when equity markets go up. You can issue equity, and people actually want it! That's about where we are. That's what's about to happen.
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[BRIEFING.COM] The S&P 500 is up 0.3% as it continues to hover within a point of its session best, while the Nasdaq is flat. Technology stocks are under pressure after bellwether Intel (INTC 24.28, -0.81) lowered its third quarter guidance below consensus. Shares of Intel trade lower by 3.3% while its peer AMD (AMD 3.53, -0.13) is down 3.6%. Related names, NVIDIA (NVDA 13.13, -0.60) and Micron (MU 6.43, -0.24) ... More More Market New s Stock Ticker In Play Story Stocks Short Stories
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All you MAD MONEY haters and 99 percenters, you should have bought Disney all those times Cramer recommended it. DISNEY is on fire breaking through $52/share today and heading to $60. Europe's problems are resolved. Wake up. United States is $20 trillion in debt and the GOPControlled Congress has done nothing to help our President. President Obama presented a budget plan two years ago and Congress refused to look at it. Throw Congress out in November. Don't need a Romney pretending to be a 1980s Reagan. We need a progressive like Obama. BUY DISNEY AND VOTE OBAMA. Can't lose. 6 7 Replies (2)
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40 minutes ago
Labor participation rate now stands at an all time low since the administration took office, and all the media tells us Americans are getting back to work. What a bunch of lies and deception we are being fed every day. Europe is high on the stimulous fumes and nothing is fixed. Just more of the same, redistribution of assets, currency devaluation, pumping of markets, and no sound fundimentals, just more smoke and mirrors. The higher the house of cards goes, the farther it has More 8 2 Replies (0)
If u Do not LOVE America Leave the country God help us all ! 11 0 Replies (0)
42 minutes ago
Coach321
57 minutes ago
Uhhhh, just because Europe is taking notes from BB and the FED, it does not mean that anything is fixed. More speculative froth brought about by the prospect of devalued currency. If you are not invested, you will lose due to inflation. If you are invested for a second too long, you will lose due to the inevitable "POP". Speculators always think they are smarter than everyone else anyway so let them enjoy their "rally". Alot of them will make some money. Just as many will lose money. These ECB actions are life support for a dying patient. They just hope they can keep him alive until a cure is found. Right now the only known cure is amputation and they aren't ready for that just yet. Give them a few months. 7 2 Replies (0)
pnut652 People like Cramer and the SPECULATORS are killing this Country! 10 6 Replies (0)
60 minutes ago
pnut652
1 hour ago
Listen to Cramer and put all of your money in the market and watch him and the other big marketers take your money ! They run the prices up to get you buying and you think you will make money, BUT!, then they will sell out from under you and take your investments. Its happened time and again and they keep doing it as long as they can keep you investing so they can manipulate the market and then sell and make BIG,BIG BUCKS! So watch out for the big burst in the market! Thanks for the thumbs down , so I know that you are out there getting ready to do it to the investors! 8 6 Replies (0)
dick jones How about we ship Jim over to Europe and replace him with a hot french chick. 17 2 Replies (0)
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Just enter your preferred display name below yes crane the pump and dump master is now pumping and then dumping Europe
1 hour ago
look Europe is bankrupt and they are going to be writting hot checks that will bounce to pay their debt. Gee people with the USA , Japan and now Europe caught in the debt trap with no way out but to continue to write hot checks western the economic system is going to collapse and soon. This is the largest asset bubble of all time and it is not going to end well. 13 1 Replies (2)
Cniht
1 hour ago
It's called betting on the Central Bank to debase the currency Cramer. There is no real growth in the EU economy to justify those gains. Even you won't blow smoke up people's backside on that statement. I'm not knocking the upswing, hell I did the same thing with my 401k. I bet Europe would break before the FED in the US and debase. But I've got no illusion that this is 'growth' or 'investing'. 9 1 Replies (1)
user903960 I'm staying in America Jim, you invest in Europe. 6 1 Replies (0)
1 hour ago
BLUECARS2
1 hour ago
OMG! OMG! You F ing Speculators, your worst than Satan in the flesh. I was walking down the street the other day and there on the ground was a ubs drive and I thought it may have been some music on it so I plugged it into my computer and behold there was this full length film " Inside Job ". I truly admit that I am completely dumb to the markets and capitalism, but after seeing this great video I now know what caused our total collapse and I definitely know why the Republicans want to go back to the way it was and why Obama so desperately does not. The sheer greed and blatant operations of the truly evil and sadistic men and women in the world of money who GAMBLED with the future of this great nation and it's citizens who as depositors had not one stinking clue that their money and savings where being used to fatten the pockets of these corrupt people. I was blown away seeing that one man received 485 million in bonuses and to know that the NETWORK of this More 12 7 Replies (4)
Someone (Wise Acre) Simply put, Cramer, you're a pathetic "tool". 7 1 Replies (0)
1 hour ago
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1 hour ago
With a focus bonds with maturities of three years of less in duration, this program will do little to solve the credit crisis of the banks that are loaded with much longer dated toxic assets (real estate,
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corporate and government) that will still need to be dealt with. 3 1 Replies (1)
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Dow Logs Highest Close Since December '07

By Adam Samson Pub lished Septemb er 11, 2012 FOXBusiness
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FOX Business: The Power to Prosper The markets pushed higher on Tuesday, led by the energy and financial sectors, as traders mulled mixed trade data and braced for an important German court ruling on Wednesday. Today's Markets The Dow Jones Industrial Average climbed 69.1 points, or 0.52%, to 13323, the S&P 500 gained 4.5 points, or 0.31%, to 1434 and the Nasdaq Composite advanced 0.51 point, or 0.02%, to 3105.
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The Dow ended at its highest level since December 2007 on the day. Every S&P 500 sector ended in the green besides consumer staples and utilities, generally seen as safety plays. Still, after posting big gains last week, many market participants have adopted a more cautious approach this week. "We are seeing a second-consecutive day of quiet trading, as investors opt to sit on their hands and await developments," Chris Beauchamp, a market analyst at IG Index in London, wrote in an email. Indeed, there are several key events expected throughout the week. In particular, traders across the globe are paying close attention to the German Constitutional Court, which is set to rule Wednesday on the European Stability Mechanism, the eurozone's permanent rescue fund.
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Gavan Nolan, director of credit research at Markit, said in an email that it would be "a major surprise" if the ESM was not passed. The Federal Reserve also reveals its monetary-policy decision later in the week. Data released recently have shown fresh strains, particularly in the labor market, which has some analysts expecting more easing from the central bank. The Commerce Department said the U.S. trade deficit widened to $42 billion in July from a downwardly revised $41.9 billion in June as exports fell 1% and imports fell 0.8%. Economists were expecting the deficit to rise to $44 billion from a previously reported $42.92 billion. While the headline figure was stronger than expected, the real goods deficit widened acted as a counterbalance, according to Michael Gapen, an analyst at Barclays. Also on the U.S. front, Moody's Investor Service said that the direction of the U.S. 'Aaa' credit rating will likely be determined by the 2013 congressional budget negotiations. In corporate news, Legg Mason (LM: 26.85, +1.38, +5.42%) said its Chairman and Chief Executive Officer Mark Fetting will be stepping down in October. The company said that Joseph Sullivan will serve as interim CEO as the board looks for a permanent chief executive. In commodities, oil prices rose slightly. The benchmark contract traded in New York climbed 11 cents, or 0.11%, to $96.65 a barrel. Wholesale New York Harbor gasoline gained 0.2% to $3.03 a gallon. In metals, gold drifted higher by $3, 0.17%, to $1,735 a troy ounce. Foreign Markets The Euro Stoxx 50 slipped 0.28% to 2521, the English FTSE 100 dipped 0.4% to 5770 and the German DAX fell 0.15% to 7203. In Asia, the Japanese Nikkei 225 slumped 0.7% to 8807 and the Chinese Hang Seng inched higher by 0.15% to 19858.
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U.S. stocks, oil rally on new Fed stimulus
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By Ellen Freilich NEW YORK (Reuters) - U.S. stocks and crude oil prices rose while the dollar weakened on Thursday as investors bet that the Federal Reserve's fresh phase of monetary stimulus would support economic growth. As part of a new round of quantitative easing, the Fed said it would buy $40 billion of mortgage debt per month to keep borrowing rates low, starting on Friday, and would keep its benchmark interest rates "exceptionally low" until the middle of 2015. Stocks jumped, with the S&P 500 index on track for its highest close since December 2007, as lower interest rates make riskier assets like stocks more attractive. The Dow Jones industrial average gained 76.35 points, or 0.57 percent, to 13,409.70. The Standard & Poor's 500 Index gained 7.29 points, or 0.51 percent, to 1,443.85. The Nasdaq Composite Index gained 14.21 points, or 0.46 percent, to 3,128.52. The MCSI index of global shares rose 0.87 percent to 334.62. The Fed gave the market "what it wanted," said James Meyer, chief investment officer at Tower Bridge Advisers in West Conshohocken, Pennsylvania. "Stocks immediately shot up." Oil and gold prices advanced but long-dated Treasury yields rose, in part because the Fed's commitment to low interest rates for several years could foster inflation. The Fed wants to stir some inflation expectation to help spur economic activity. The U.S. dollar weakened, as easier monetary conditions might lower short term interest rates. Analysts noted that the Fed's move has wide-reaching impact in part because it is part of global shift toward extra monetary stimulus. "The Fed's actions are occurring in conjunction with the European Central Bank's commitments to support the euro and amid talk that China could also deliver a stimulus package," said Quincy Krosby, market strategist at Prudential Financial. "You're witnessing global economic stimulus across the board." The dollar hit a seven-month low against the yen and a four-month trough against the euro. The euro, which rose to $1.2962, has been aided by European Central Bank efforts to aid struggling euro-zone nations burdened by debt. In its policy statement released at the end of a two-day policy meeting, the Fed said it would continue to buy mortgage related debt and other securities until the outlook for jobs improves "substantially" so long as inflation remains contained. China's central bank also cut interest rates in June and July and has lowered banks' reserve requirement ratio (RRR) three times since late 2011 to free money for new lending. It could repeat those measures to help shore up the world economy. In early July, China, the euro zone and Britain loosened monetary policy within less than an hour of each other. Brent crude oil prices rose 79 cents to $116.75 per barrel. Long-dated U.S. government debt prices turned negative while shorter maturities rose. The modestly wider difference between short- and long-term yields reflected a modest inflation premium being factored into long-term U.S. government bonds. The benchmark 10-year Treasuries traded down 8/32 in price, its yield rising to 1.79 percent. Two-year Treasuries were
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unchanged, yielded 0.25 percent. The 30-year bond fell 24/32 in price to yield 2.96 percent.
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Rally pushes stocks to nearly 5-year highs

By Hibah Yousuf @CNNMoneyInvest September 13, 2012: 4:23 PM ET
Click the chart for more stock market data
NEW YORK (CNNMoney) -- A rally on Wall Street gained momentum Thursday afternoon, sending stocks to fresh multiyear highs, as investors welcomed the Federal Reserve's new bond-buying plan. The Dow Jones industrial av erage jumped 207 points, or 1.6%, while the Nasdaq rose 1.3% and the S&P 500 gained 1.6%. Prior to the Fed's announcement, all three major indexes had been just 0.2% higher. The day's gains pushed the Dow and S&P 500 to their highest closing levels since December 2007, while the tech-heavy Nasdaq finished at its highest level since November 2000. Financial stocks led the broad rally, with the KBW Bank index ( BKX) climbing 2.8% to its highest level since May 2011. Bank of America's ( BAC, Fortune 500) nearly 4.8% advance led the Dow higher, while JPMorgan's ( JPM, Fortune 500) 3.7% rise helped the stock fully recover the losses it suffered following the 'London w hale' disclosure. As investors moved into risky assets, oil prices spiked 1.3% to $98.31 a barrel. Priced had already been higher amid "concern that protests in the Middle East may threaten supplies," said Wells Fargo Advisors analysts. Gold, which is used as a hedge against inflation, jumped 2% to hit a nearly 7-month high. And Treasuries, which had had been gaining ground earlier, sold-off sharply, which pushed 10-year yield above 1.8% from 1.72% before the Fed's announcement. The yield settled around 1.74%. The Fed said it w ill buy $40 billion of m ortage-backed bonds each month for however long it deems necessary. In the past, the Fed has concentrated its purchases in Treasuries. Housing stocks gained on the news. Shares of homebuilder Hovnanian ( 3%. Lennar ( LEN) and Toll Brothers ( TOL ) gained almost 2%. HOV ) and Pulte Group ( PHM) rose more than
The Fed also said it plans to keep interest rates at "exceptionally low levels" until mid-2015. Previously, the central bank had forecast rates would remain low until late 2014.
Related: Fed pulls trigger on QE3
"There's no big surprise here," said Jeffrey Kleintop, chief market strategist at LPL Financial, adding that he expects the initial market enthusiasm will begin to fade sooner rather than later. "The only thing that struck me a bit was that the Fed has left the door open to do more if it needs. This might not be all of it." Meanwhile, the Fed lowered its forecast for econom ic grow th this year, but boosted its outlook for 2013.
money.cnn.com/2012/09/13/investing/stocks-markets/index.html?iid=Lead
During a press conference, Fed chair Ben Bernanke said the idea behind the new bond-buying plan was to "quicken the economy." But Bernanke also admitted that the Fed alone is not strong enough to fix the job market, which is struggling with an unemployment rate above 8%, and urged other policymakers -- namely Congress -- to do their part.
Related: Fed acted because Congress is lame
"I want to be clear: While I think we can make a meaningful and significant contribution to reducing this problem, we can't solve it. We don't have tools that are strong enough to solve the unemployment problem," Bernanke said. If Congress fails to address the impending fiscal cliff, "then QE3 will be as if we got flu shots before storming the beaches of Normandy -- it's not going to matter," said Kleintop. Ahead of the opening bell Thursday, the Labor Department reported initial jobless claims increased to 382,000 for the week ended September 8, up 15,000 from the week earlier, and worse than expected. The U.S. Bureaus of Labor Statistics reported producer prices rose 1.7% in August, marking the largest monthly jump since June 2009 and higher than expected.
Related: QE3 won't create jobs
Anticipation of the Fed's decision weighed on markets around the world. European m arkets and Asian m arkets finished mixed Thursday ahead of the news. The euro edged higher against the U.S. dollar, holding above $1.29 for the second day in a row.
Related: Banking union faces long road
Meanwhile, Europe remained in focus after a senior International Monetary Fund official said Greece will need a third bailout package from the eurozone, according to a Wall Street Journal report. The official's comments come a day after Germ any 's Constitutional Court ruled against a request to block Europe's latest rescue fund.
Fear & Greed Index
Com panies: Shares of Facebook ( FB ) pulled back slightly from the 1-month high reached a day earlier. Facebook's stock has gained nearly 13% over the past five days, but less than $21 share, it's still a far cry from its IPO price of $38. Apple's ( AAPL , Fortune 500)stock rose almost 2% a day after the tech giant unveiled the iPhone 5, and closed at an alltime high of $683. Aerospace companies BAE Systems ( BAESY ) and European Aeronautic Defence & Space Co ( were in merger talks Wednesday. Shares of both companies declined sharply Thursday. EADSY ). said they
Retailer Pier 1 Imports ( PIR) reported strong second-quarter earning Thursday morning and raised its full-year guidance, and shares rose slightly.
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Stocks Soar as Traders Cheer Fresh Fed Easing
Fed Launches New Bond- MARKET SNAPSHOT Buying Program The Fed said it will purchase mortgagebacked assets at a rate of $40 billion per month and vowed to hold short-term rates at historically low levels until mid-2015.
Read: The FOMC's Statem ent | Can the Fed Save the Econom y? U.S.
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What's to Blame for the Grim Labor Market? The jobs market continues struggling years after the recession ended. Drenched in Green: Wall Street roared higher Thursday after the Federal However, there is discord Reserve took decisive action aimed at giving the U.S. economy a much-needed jolt of energy. The advance propelled the broad S&P 500 to its highest level since amongst economists as to what is to blame. December 2007.
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Fed Launches New Bond-Buying Program
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FOX Business: The Power to Prosper The markets zoomed higher after the Federal Reserve revealed several strong easing measures, including a potentially unlimited mortgagebacked asset purchase program. Today's Markets According to preliminary calculations, the Dow Jones Industrial Average rallied 201 points, or 1.5%, to 13435, the S&P 500 jumped 22.5 points, or 1.6%, to 1459 and the Nasdaq Composite climbed 42.6 points, or 1.4%, to 3157. The advance propelled the broad S&P 500 to its highest level since December 2007. Every major sector ended in the green on the day, led by financial, materials, energy and consumer staple shares. In a sign of the breadth of the buying, there were nearly 10 trades in advancing shares for each in a declining share on the New York Stock Exchange, according data compiled by FOX Business. Overall volume on the NYSE was at its highest since June 29. The VIX, which is sometimes referred to as Wall Street's fear gauge, plunged close to 12%. 'Pulling out all the Stops' The Federal Reserve said Thursday it will purchase mortgage-backed assets at a rate of $40 billion per month in a bid to bolster the flagging U.S. economy. The Fed expects its programs to increase its holdings of long-
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term securities by about $85 billion a month through the end of the year. "The Fed is pulling out all the stops to drive down mortgage rates with this program," Paul Edelstein, director of financial economics at IHS Global Insight wrote in a note to clients. He cautioned, however, that the impact on gross domestic product and unemployment will "probably be imperceptible." The central bank also extended its pledge to keep short-term interest rates at historically low levels until mid-2015. The goal of both of these programs is to encourage businesses to invest and lend and to drive down mortgage rates in the hopes of propelling the burgeoning recovery in the housing market. "Were not sure what the economic effects of this program will be it should help growth and employment on the margin but of all the announcements the Fed could have made today, this is very nearly one of the most accommodative that could have been reasonably expected," Dan Greenhaus, chief global strategist at BTIG wrote in an email following the announcement. The announcement comes amid a bleak backdrop for the economy. The labor market added a paltry 96,000 jobs last month. Meanwhile, the U.S. economy grew at a pace of 1.7% in the second quarter, slower than the 2% growth rate in the first quarter. Traders were also mulling two economic reports. The Labor Department said first-time claims for unemployment benefits jumped 15,000 to 382,000 last week. Claims were expected to rise to 370,000 from an initially reported 365,000. However, the Labor Department noted several states reported increases in claims due to Tropical Storm Isaac, resulting in about 9,000 in unadjusted terms. Meanwhile, wholesale prices took the biggest jump since June 2009 in August. The Labor Department's gauge of producer prices climbed 1.7%, a bigger increase than the 1.1% forecast. Excluding the more volatile food and energy components, so-called core prices were up 0.2%, in line with estimates. Prices at the headline level are up 2% on the year, or 2.5% at the core level. Oil futures advanced. The benchmark contract traded in New York climbed $1.30, or 1.3%, to $98.31 a barrel. Wholesale New York Harbor gasoline fell 1.3% to $2.962 a gallon. Gold prices soared $38.40, or 2.2%, to $1,772 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.84% to 2543, the English FTSE 100 rose 0.65% to 5820 and the German DAX dipped 0.45% to 7310. In Asia, the Japanese Nikkei 225 advanced 0.39% to 8995 and the Chinese Hang Seng slipped 0.14% to 20048.
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Dow Charges 2.2% Higher for Week in FedFueled Rally

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FOX Business: The Power to Prosper The blue-chip average capped the week at the highest level in nearly five years as traders responded to upbeat headlines from Europe and cheered a fresh round of easing from the Federal Reserve. Today's Markets The Dow Jones Industrial Average rose 53.5 points, or 0.4%, to 13593, the S&P 500 gained 5.8 points, or 0.4%, to 1466 and the Nasdaq Composite climbed 28.1 points, or 0.89%, to 3184.
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It was the best week for the Dow since early June. The broader markets had a strong week as well: the S&P 500 jumped 1.9% and the Nasdaq rallied 1.5%. The sharp turn higher for equities came after the Fed unveiled an openended plan to buy mortgage-backed assets at a clip of $40 billion a month. The central bank also pledged to take more actions, if necessary, to give the stodgy economy and labor market a fresh jolt of power. Michael Gapen, an analyst at Barclays capital, said in a note to clients that the Fed move signals "new era for unconventional balance sheet policy." The investment bank said the plan is likely to be positive for risky assets, and negative for the U.S. dollar. Oil prices rallied above the $100 a barrel mark for the first time since May
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as traders responded to liquidity from the Fed and increased geopolitical uncertainty in the Middle East and North Africa. The benchmark contract recently jumped 69 cents, or 0.7%, to $99.00 a barrel. Wholesale New York Harbor gasoline rallied 1.8% to $3.016 a gallon. Gold advanced 60 cents, or 0.6%, to $1,773 a troy ounce. There are a slew of economic reports on tap for Friday. The Labor Department said inflation at the consumer level rose by 0.6% in August, more than the 0.5% expected and the largest rise since June 2009, predominantly as a result of rising gas prices. Excluding the food and energy components, prices were up 0.1%, just under the 0.2% expected. A separate report from the Commerce Department showed U.S. retail sales rising 0.9% in August from July, more than the 0.7% expected and the largest rise since February. Excluding the auto segment, sales were up 0.8%, topping estimates of 0.6%. Also potentially affecting retailers is a survey from Reuters and the University of Michigan showing consumer sentiment unexpectedly jumped in early September. The preliminary reading of the gauge came in at 79.2, up from 74.4, and much better than then 74 economists expected. A separate report showed U.S. industrial output having slumped 1.2% in August from the month before. Economists expected the gauge from the Federal Reserve to hold steady. In corporate news, S&P Dow Jones Indices said UnitedHealth Group (UHC) will replace Kraft Foods (KFT: 39.93, -0.20, -0.50%) on the Dow Jones Industrial Average at the start of trading next Monday. The company said the change was prompted by Kraft's move to spinoff its North American grocery business, which will reduce the company's market capitalization and projected revenues. UnitedHealth, an insurer, will bring more health-care diversification to the blue-chip index, the company said. Apple (AAPL: 691.28, +8.30, +1.22%) appeared to sell out on the first round of pre-orders for its iPhone 5 within in an hour, in what could be a sign of demand for the device. Customers looking to buy the product through Apple online in the U.S. will now need to wait two weeks for it to ship, according to Apple's website. It debuts on September 21. Foreign Markets The Euro Stoxx 50 soared 2% to 2595, the English FTSE 100 rallied 1.6% to 5916 and the German DAX jumped 1.4% to 7412. The Japanese Nikkei 225 lurched higher by 1.8% to 9159 and the Chinese Hang Seng surged 2.9% to 20630.
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The Hindu : Business / Markets : Sensex zooms 443 points on diesel hike
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Published: September 14, 2012 17:05 IST | Updated: September 14, 2012 17:09 IST
Sensex zooms 443 points on diesel hike

PTI
Reports of a new QE plan by Fed and hopes that India will take more steps after hiking diesel price and capping supply of subsidised LPG, set the trading trend Photo:AP
Rising for the eight straight day, the Sensex on Friday vaulted 443 points to close at 18,464.27, a fresh 7-month high, after investors cheered the governments decision to hike diesel prices and US Federal Reserve approved a new stimulus plan. The positive sentiment prevailed despite inflation rising by a higher than expected 7.55 per cent in August, which may restrain the RBI from cutting interest rates at its monetary policy review next week, said dealers. The BSE benchmark index opened 260 points higher tracking overnight gains in US markets. Reports of a new Quantitative Easing (QE) plan by Fed and hopes that India will taken more steps after hiking diesel price by Rs 5.63 per litre and capping supply of subsidised LPG, set the trading trend. As the day progressed, stocks built on the momentum as 24 shares of the 30-share Sensex rose. Gains were led by Jindal Steel and Hindalco which rose over 8 per cent each. RIL, SBI and ICICI Bank rose around 5 per cent each helping Sensex rise 443.11 points the biggest single day gain clocked in 2012. The index had gained 439.22 points on June 29, 433.66 points on June 6 and 421.44 points on January 3. The 50-share National Stock Exchange index Nifty rose by 142.30 points. In the broader BSE market, nearly 1,500 stocks rose, taking investor wealth up by nearly Rs 1 lakh crore to Rs 63.63 lakh crore. Across 13 BSE sectoral indices, 11 indices rose with Realty, Metal and Bankex jumping 4-5 per cent. Capital Goods, Auto, Oil&Gas and IT shares logged 2-3.5 per cent gains. Keywords: Sensex, BSE, Nifty, NSE, Indian stock markets, closing trade, US Fed reserve, diesel prices More In: Markets | Business
Printable v ersion | Sep 1 5, 2 01 2 7 :3 7 :4 2 AM | http://www.thehindu.com /business/m arkets/article3 89 6 9 2 9 .ece The Hindu
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The Hindu : Business / Markets : Sensex at one-year high, up 404 points
Business Markets
Sensex at one-year high, up 404 points

PTI
A stock broker in a dealing room gives a thumps up sing as the Sensex, NiftyThe Hindu hit 14-month high on reforms push in Mumbai on September 21, 2012. Photo: Paul Noronha
The Sensex on Friday closed at one-year high of 18,752.83 surging by 404 points as the stock market gave thumbs up to UPA governments resolve to push ahead with economic reforms on the back of continued support from the Samajwadi Party. After opening 62 points higher, the BSE benchmark index built on the initial momentum as foreign fund flows gushed in with the government on Thursday notifying its decision to allow FDI in multi-brand retail, aviation and broadcasting sectors. Soon after, the Sensex intra-day zoomed over 517 points to 18,866.87, a new high in 14 months, on reports that Samajwadi Party has pledged to continue support to the government on a day Mamata Banerjee-led Trinamool Congress pulled out of UPA. Power, capital goods, metal and bank stocks led Sensexs rise. Finance Minister P Chidambarams announcement of slashing withholding tax on overseas borrowings to 5 per cent from 20 per cent and approval to Rajiv Gandhi Equity Savings Scheme (RGESS) to encourage first-time retail investors to invest in stocks, also lifted the sentiment. The 30-share Sensex finally closed at a 52-week high pf 18752.83 points, up 403.58 points or 2.20 per cent, with 26 constituents led by ICICI Bank, L&T, HDFC Bank, Reliance and ITC ending higher. Todays rise was the second biggest single-day gain by Sensex after September 14 this month. Across broader market, over 1,800 stocks closed with gains driving up investor wealth by a whopping Rs 1.27 lakh crore. Sensex ended the week at 52-week highs on the back of a 2 per cent gain...this was a result of the fiscal reforms announced last week and also in current week. FDI in aviation and multi-brand retail were notified without any delay. Concerns about stability of UPA government were also largely addressed, said Dipen Shah, Head of Private Client Group Research, Kotak Securities. The NSE 50-share Nifty index shot up by 136.90, or 2.46 per cent to 5,691.15 after rising to days high of 5,700. Meanwhile, the rupee rose to its highest level in more than four months gaining 1.9 per cent to 53.37 a US dollar.
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Rebound: Stocks Stem Multi-Day Slide on Spain, China News

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FOX Business: Capitalism Lives Here The S&P 500 ended higher for the first session in six on Thursday after Spain revealed a plan to keep a lid on its deficit and China's central bank made a hefty liquidity injection into its banking sector. Today's Markets The Dow Jones Industrial Average rose 72.5 points, or 0.54%, to 13486, the S&P 500 gained 13.8 points, or 0.96%, to 1447 and the Nasdaq Composite jumped 42.9 points, or 1.4%, to 3137. Wall Street got a reprieve from focusing on Europe's debt crisis after the European Central Bank unveiled measures earlier this month aimed at easing eurozone borrowing costs. However, tension has began to rise once again, roiling the markets. The broad S&P 500 had fallen for five days its longest losing streak since July. But the broad-market index was able to post a solid advance on Thursday. Spain unveiled a wide-ranging economic reform plan on Thursday. The country expects to meet its 2012 fiscal target and is taking a slew of measures to lower its deficits in years to come. Analysts have expressed hopes that the plan will open the door to bond buying from the European Central Bank to lower the country's borrowing costs. Indeed, the European Commission called the plan an important step toward addressing the
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country's economic challenges, according to a report by Reuters . Stress tests on Spain's banks are due on Friday. Also on the European front, the U.K.'s second-quarter economic contraction was revised lower to 0.4% from 0.5%. Also, helping to boost sentiment was news that the People's Bank of China injected 180 billion yuan ($28 billion) into China's banking system, bringing the total liquidity injection for the week to a net record, according to analysts at Nomura. The country has been taking increasingly aggressive measures to keep its economy, the world's second biggest, from cooling down too quickly. Traders were also analyzing a slew of U.S. economic data. The Labor Department said new claims for unemployment benefits fell to 359,000 last week from an upwardly revised 385,000 the week prior. Claims were expected to fall to 378,000 from an initially reported 382,000. A final reading from the Commerce Department on U.S. gross domestic product showed the economy expanded at an annualized rate of 1.3% in the second quarter, down from 1.7% in a previous reading. Economists expected the gauge to hold steady. A separate report from the Commerce Department showed orders for long-lasting goods fell 13.2% in August from July, a steeper drop than the 5% expected. It was the steepest drop since January 2009. Excluding the transportation sector, claims were down 1.6%, missing estimates of a 0.3% gain. The durable goods report figures into broader measures of third-quarter economic growth, and often has an impact on Wall Street. Pending home sales fell 2.6% in August from July, according to the National Association of Realtors. Sales were expected to remain flat. The gauge is up 10.7% from the same month in 2011. In commodities, oil prices rallied. The benchmark contracted traded in New York climbed $1.87, or 2.1%, to $91.86 a barrel. Wholesale New York Harbor gasoline jumped 2.1% to $3.144 a gallon. In metals, gold rallied $26.90, or 1.5%, to $1,781 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.3% to 2506, the English FTSE 100 gained 0.2% to 5779 and the German DAX climbed 0.19% to 7290. In Asia, the Japanese Nikkei 225 tacked on 0.48% to 8950 and the Chinese Hang Seng rallied 1.1% to 20762.
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The S&P 500 ended higher for the first session in six on Thursday after Spain revealed a plan to keep a lid on its deficit and China's central bank made a hefty liquidity injection into its banking sector.
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S&P 500 snaps five-day losing streak

By Maureen Farrell @CNNMoneyInvest September 27, 2012: 4:50 PM ET
Cilck chart for more market data
NEW YORK (CNNMoney) -- Investors breathed a sigh of relief Thursday after Spain released its official 2013 budget. While the Spanish government had already promised to cut costs, several analysts and traders said that investors were happy to see something officially documenting Spain's willingness to move forward with necessary, albeit painful, cuts. U.S. stocks spiked Thursday afternoon and ended the day higher. The S&P 500 snapped a five-day losing streak. Despite the market marching lower over much of the past two weeks, all three indexes have are still up more than 10% in 2012. The Dow Jones industrial average , the S&P 500, and the Nasdaq closed up between 0.6% and 1.4%. Bank stocks led the broad rally, with shares of Bank of America ( BAC, Fortune 500), JPMorgan Chase ( JPM, Fortune 500) and Goldman Sachs ( GS, Fortune 500) all up between 1% and 2%. Even U.S.-listed shares of Spanish banks Banco Santader ( SAN) and BBVA ( BBVA) rose on the news. Gold prices hit a seven-month high Thursday, closing up $26.90 to $1,780.50 an ounce. It's been a worrying week for Spain, as yields on 10-year Spanish bonds shot up above 6% for the first time in three weeks. Investors remain wary about whether Spain will seek a bailout. "This is the fourth or fifth round of belt tightening that we've seen," said Nicholas Spiro, managing director of Spiro Sovereign Strategy. He said the budget was Spanish Prime Minster Mariano Rajoy's way of "firing the initial salvo" toward negotiating bailout terms. European Central Bank president Mario Draghi unveiled a bond-buying plan earlier this month aimed at helping indebted nations like Spain and Italy. But the plan comes with strings attached: Any nation seeking ECB aid must agree to a series of reforms and oversight from the bailout funds. Today's budget is Rajoy's way of convincing policymakers that nothing more can be done, Spiro said. "Spain is trying to climb up a down escalator." The news out of Europe comes as investors were greeted this morning with mixed data about the U.S. economy. In one of many signs that domestic growth is lagging, second-quarter GDP growth was revised downward. Durable good orders and pending home sales also signaled further problems for the U.S. economy. Orders for durable goods slowed more than expected in August. Pending home sales, which were expected to increase by 0.5%, actually dropped by 2.6%. Thursday's only positive note in the barrage of U.S. economic data was the drop in jobless claims.
money.cnn.com/2012/09/27/investing/stocks-markets/index.html?iid=H_MKT_News
Spain's precarious future
China also helped boost markets early in the day, following talk that the People's Bank of China may take further easing measures. The Shanghai Composite ended up 2.6%. The Hang Seng in Hong Kong jumped 1.1%, and Japan's Nikkei ticked up 0.5%. It's the latest sign that central banks are taking measures to keep a global slowdown at bay. European stocks pared gains after a disappointing report on eurozone sentiment, which showed a surprise decline in September. Economists had expected the European Commission's monthly index to be unchanged. Britain's FTSE 100 and the DAX in Germany closed up 0.2%, and France's CAC 40 rose 0.7%. Investors are still waiting for the auditors' results of bank stress tests in Spain, due out Friday, which could give investors a better idea of just how deep Spain's banking troubles run.
Fear & Greed Index
Companies: Shares of Sealy ( ZZ) closed up 2% after rival company Tempur-Pedic ( TPX) said it was buying the company for $228 million. Sealy reported zero earnings per share, falling short of expectations. The company canceled the morning's earnings call, citing the new deal. Meanwhile,Temper-Pedic shares surged 15%. Shares of Advanced Micro Devices ( AMD, Fortune 500) jumped 3% after the chip maker unveiled a new, faster chip that's expected to be 25% and come with integrated graphics. Goodyear Tire & Rubber ( GT, Fortune 500) shares rose 4% after the company revealed a new road vehicle tire, one that will meet the European Union's highest fuel efficiency standards, rules which go into effect in November. Shares of spice and condiment maker McCormick & Company Inc ( MKC) fell 2% following the company's quarterly report in which CEO Alan Wilson warned of continued "volatile material costs." The food company reported earnings per share of 78 cents, beating expectations. Discover Financial Services ( DFS, Fortune 500) moved up 7% after the company's earnings beat forecasts.
Shares of Research in Motion ( RIMM) spiked more than 15% . While its sales slumped 31% from a year ago and it posted a loss, the results for the troubled BlackBerry maker weren't as bad as feared. Shares of Nike ( NKE, Fortune 500) fell in after-hours trading, even though the sneaker company beat forecasts for both revenues and profits. Currencies and commodities: The dollar rose against the euro, but fell versus the British pound and Japanese yen. Oil for November delivery added $1.87 to $91.85 a barrel. Bonds: The price on the benchmark 10-year U.S. Treasury slid, pushing the yield up slightly to 1.65% from 1.62% late Wednesday. -- CNNMoney Markets & Investing editor Catherine Tymkiw contributed
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9/29/12
The Hindu : Business / Markets : Sensex up 183 points; ends at 15-month high on strong rupee
Business Markets
Sensex up 183 points; ends at 15-month high on strong rupee

PTI
A firming global trend and the rupee rising to five-month high against the dollar helped the market commence the new settlement in the derivatives segment on a promising note
The BSE benchmark Sensex on Friday jumped by 183 points to end at a 15-month high on buying in auto, FMCG and metal stocks amid strong global cues and a surging rupee. After gaining 269 points at the outset, the Sensex closed up 183.24 points, or 0.99 per cent, at 18,762.74, a level last seen on July 7. The 30-share barometer has gained 8.2 per cent this month. The broad-based National Stock Exchange index Nifty climbed to psychological 5,700 level by adding 53.80 points, to end at 5,703.30. It touched the days high of 5,735.15. A firming global trend and the rupee rising to fivemonth high against the dollar helped the market commence the new settlement in the derivatives segment on a promising note. The Sensex has risen 4.7 per cent since September 13, when the government hiked diesel prices and opened retail and aviation sectors to foreign direct investments. In 30BSE index components, 25 stocks closed with gains. Reliance Industries, HDFC Ltd, Hindustan Unilever, ITC, Maruti Suzuki, Mahindra and Mahindra and Tata Motors were among the major gainers. The current rally was led by auto, consumer durables and FMCG stocks. The auto sector index gained the most by 1.89 per cent to 10,413.19 followed by consumer durables by 1.63 per cent to 6,939.84. FMCG index rose by 1.42 per cent to 5,507.46.
thehindu.com/business/markets//article3945704.ece?css=print 1/2
10/1/12
The Hindu : Business / Markets : Sensex gains 61 points; Infosys, Tata Motors in limelight
Business Markets
Published: October 1, 2012 09:56 IST | Updated: October 1, 2012 17:18 IST
Sensex gains 61 points; Infosys, Tata Motors in limelight

PTI
The Sensex on Monday advanced by 61 points on the back of gains in Infosys, Tata Motors and ITC, amid a positive trend in European shares. The BSE benchmark index, that had gained 183 points in the previous session, rose by 61.17 points, or 0.33 per cent, to 18,823.91 driven by IT, capital goods and auto scrips. Trading remained firm on continued buying by funds and retail investors on hopes that the government will announce more economic reforms, market experts said. European indices that were up one per cent each on reports of positive economic data, also aided the domestic sentiment. Brokers said investors adopted a selective approach after the 30share barometer gained 7.7 per cent in September a month where the government hiked diesel price, allowed foreign direct investment in retail and aviation, among others. The 50share National Stock Exchange index Nifty today gained 15.50 points, or 0.27 per cent, to 5,718.80. IT major Infosys rose by 2.96 per cent to Rs 2,609.10, after recording heavy losses in the previous few sessions. Select auto stocks also notched up smart rise after posting betterthanexpected September sales. Maruti Suzuki rose 0.53 per cent, Tata Motors by 2.65 per cent and TVS Motors by 4.26 per cent. ITC, which rose 0.6 per cent, also helped Sensex rise. Infrastructurerelated stocks, mostly outside Sensex, also advanced as end of Monsoon season is likely to revive construction activity, said analysts. IVRCL shot up by 4.5 per cent, NCC by 3.6 per cent, Jaiprakash Asso. by 4.6 per cent and Reliance Infra by 2.75 per cent. Profitbooking was seen in some private banks after strong rally witnessed in last two weeks, said Nidhi Sarswat, Senior Research Analyst, Bonanza Portfolio. ICICI Bank and HDFC Bank fell in the 0.70.9 per cent range. Stock markets will be closed on account of Mahatma Gandhi Jayanti tomorrow. Keywords: Bombay Stock Exchange, Reforms package, US Dollar More In: Markets | Business
Printable v ersion | Oct 2 , 2 01 2 9 :1 1 :3 7 AM | http://www.thehindu.com /business/m arkets/sensex-gains-6 1 -points-infosy s-tata-m otors-in-lim elight/article3 9 53 9 7 5.ece The Hindu
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Mixed Start to 4Q as ISM-Fueled Rally Eases

By Matt Egan Pub lished Octob er 01, 2012 FOXBusiness
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FOX Business: The Power to Prosper In a mixed kickoff to the fourth quarter, Wall Street closed well off its best levels on Friday as enthusiasm over a surprise expansion of U.S. manufacturing activity faded and slumping Apple continued to weigh on the Nasdaq Composite. Todays Markets The Dow Jones Industrial Average rose 77.91 points, or 0.58%, to 13515.04, the S&P 500 gained 3.81 points, or 0.26%, to 1444.48 and the Nasdaq Composite lost 2.70 points, or 0.09%, to 3113.53. The FOX 50 advanced 2.89 points, or 0.27%, to 1091.79. At session highs the blue chips had been more than 150 points in the green, cheered on by the unexpected rebound in the closely-watched manufacturing gauge. Market participants didn't point to any specific reasons for the afternoon pullback, which began as Fed chief Ben Bernanke defended his latest stimulus policies and reaffirmed he expects the U.S. economy to continue to grow despite some calls for a recession. The mixed picture comes after Wall Street put the finishing touches on a surprisingly solid third quarter that has left the markets within striking distance of all-time highs despite lingering economic headwinds.
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We had a great third quarter. We definitely have some positive momentum still very much within a very constructive tone in the market, said Peter Kenny, managing director at Knight Capital Group (KCG: 2.72, +0.04, +1.68%). Apple (AAPL: 659.39, -7.72, -1.16%) drove the declines in the Nasdaq as the tech behemoth declined another 1%. Apples shares, which have the biggest weighting among Nasdaq stocks, have retreated almost 6% since disclosing iPhone sales figures last week that disappointed some investors. The retreat from session highs began after the comments from Bernanke, who said he doesn't see the U.S. sinking into a recession, but warned growth remains too slow to significantly cut down on unemployment. "The case seemed clear to most of my colleagues that we could do more to assist economic growth and the job market without compromising our goal of price stability," Bernanke said in defense of QE3. Also on the economic front, the Institute for Supply Management said manufacturing activity in the U.S. expanded in September for the first time since May. ISM's manufacturing PMI hit 51.5 last month, topping estimates for 49.7 and besting August's 49.6 reading. Following the stronger-than-expected ISM data economically-sensitive stocks like General Electric (GE: 22.81, +0.10, +0.44%) and UPS (UPS: 72.01, +0.44, +0.61%) extended their gains. "Todays number is unquestionably a positive and it's not surprising to see the equity market react accordingly," Dan Greenhaus, chief global strategist at BTIG, wrote in a note early in the day. On the other hand, Markit said its final manufacturing reading for September slipped to 51.1 from 51.5 in August. That marked the index's lowest reading in three years. Also, the Commerce Department said U.S. construction spending dipped 0.6% in August, compared with forecasts from economists for a gain of 0.4%. Wall Street sentiment was lifted early in the session by impressive gains in Europe where the Euro Stoxx 50 rallied close to 2% despite a new report revealing the eurozone's unemployment rate climbed to a record of 11.4% in August. Speculation also continues to mount over whether and when Spain's government will officially request a formal bailout. Stress tests released late last week showed Spain's banking system would have a 59 billion euro ($76 billion) capital shortfall in a stressed scenario and seven banks have capital needs. Fueled largely by the Fed's quantitative easing programs, equities generated solid returns in the third quarter. The blue chips advanced 4.32%, capped off by their strongest monthly performance since June. The S&P 500 is in the midst of a four-month winning streak, picking up nearly 10% over that span. In the commodities complex, crude oil gained 29 cents a barrel, or 0.31%, to $92.48. Gold climbed $9.40 a troy ounce, or 0.53%, to $1,780.50 -- its highest settle since February 28.
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Corporate Movers 3M (MMM: 93.29, +0.87, +0.94%) inked an $860 million deal to acquire advanced-ceramics maker Ceradyne (CRDN: 34.97, +10.54, +43.14%). The $35-a-share transaction carries a 43% premium on Ceradyne's Friday close of $24.43. BMC Software (BMC: 42.84, +1.36, +3.27%) popped 3% after The Wall Street Journal reported the company has tapped Bank of America Merrill Lynch (BAC: 8.96, +0.13, +1.47%) to reach out to potential buyers, including private-equity firms. Honeywell (HON: 60.80, +1.05, +1.76%) acquired a 70% stake in privately held natural gas company Thomas Russell for $525 million in cash. Macy's (M: 38.58, +0.96, +2.55%) announced plans to boost its hiring of seasonal employees by 2.5% to 80,000 workers this holiday-shopping season. Cal-Maine Foods (CALM: 45.74, +0.80, +1.78%) more than tripled its fiscal first-quarter profits to $9.42 million as sales jumped 12% to $272.9 million. The egg producer warned it expects near record high feed costs due to the summer drought to continue. Global Markets The Euro Stoxx 50 soared 1.82% to 2498.81, Londons FTSE 100 advanced 1.37% to 5820.45 and the German DAX climbed 1.53% to 7326.73. In Asia, Japans Nikkei 225 slumped 0.83% to 8796.51.
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FOX Business: The Power to Prosper Heading into Friday's crucial jobs report, the S&P 500 rallied for the fourth session in a row on Thursday as investors' appetite for risk was boosted by a pair of economic reports that beat expectations and Mitt Romney's feisty debate performance. Today's Markets The Dow Jones Industrial Average jumped 80.75 points, or 0.60%, to 13575.36, the S&P 500 gained 10.41 points, or 0.72%, to 1461.40 and the Nasdaq Composite added 14.23 points, or 0.45%, to 3149.46. The FOX 50 picked up 6.59 points, or 0.60%, to 1103.37. In addition to the latest economic data, stock prices were lifted by another pledge from the European Central Bank to keep the eurozone intact. For the first time this week, Wall Street opened in the green and managed to successfully stay there throughout the session, giving the S&P 500 a four-day win streak. Most of the Dow's 30 stocks closed higher, led by Bank of America (BAC) and Alcoa (AA), which kicks off earnings season next week. The index's weakest links were Intel (INTC) and Cisco Systems (CSCO). "I think Romney's strong performance was considered a positive for the markets," said Marc Pado, U.S. market strategist at investment advisory
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DowBull. "The markets tend to do better under Democrats but they feel better under Republicans." The financial sector was the best performing group, soaring 1.5%, perhaps amid hopes a Romney upset after could lead to a repeal of the Dodd-Frank financial reform. Individual names like Morgan Stanley (MS) and Citigroup (C) enjoyed even stronger rallies. While banks rallied, hospital stocks like Tenet Healthcare (THC) and HCA Holdings (HCA) retreated amid concerns Romneys debate win could undermine the future of President Obamas health-care reform, which has been seen as a positive for the sector. Not everyone was sold on the market performance being tied to politics though. "I'm not going to say it's a Romney rally," said Dan Greenhaus, chief global strategist at BTIG, pointing to the stronger-than-expected economic data. Economic Data, Euro in Focus Stocks hit session highs shortly after the Commerce Department said U.S. factory orders tumbled 5.2% in August, beating forecasts for a 6% decline but still marking the biggest drop since January 2009. However, excluding transportation, orders were up 0.7%. The markets also responded positively to a new report showing new claims for unemployment benefits rose last week to 367,000 from an upwardly revised 363,000 the week before. Claims had been expected to jump to 370,000 from a previously reported 359,000. Wall Street is anxiously awaiting Friday's government jobs report, which is forecasted to show the U.S. created 115,000 jobs last month, up from 96,000 in August. The unemployment report is seen rising to 8.2% from 8.1%. In Europe, the Bank of England and the ECB kept interest rates steady as expected. During a press conference, ECB President Mario Draghi repeated his promise that the euro is "irreversible" and defended his actions, saying the central bank is acting strictly within its mandate. "Draghi reinforced the idea that the euro is here to stay. We want to hear reassuring comments that their end game is still the same," said Pado. Meanwhile, the eurozone is exploring boosting struggling Spain by providing insurance for investors who buy government bonds, Reuters reported. The minutes from the Federal Reserve's September QE3 meeting suggested the central bank could install inflation and unemployment thresholds that would indicate when interest rates will rise. Despite some dissension to QE3, most policymakers determined the lackluster economy needed more Fed stimulus. The retail sector closed solidly higher after U.S. retailers released September results that showed same-store sales rose by an in-line 3.6%, according to Thomson Reuters.
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Target (TGT ) and Macy's (M ) disclosed sales that missed expectations, while Costco (COST ) beat forecasts. In the commodities complex, crude oil rebounded in a big way from its worst one-day percentage decline since the end of 2011. After diving 4.08% on Wednesday due to jitters about China's economy, crude on Thursday settled up $3.57 a barrel, or 4.05%, to $91.71. Gold jumped $16.80 a troy ounce, or 0.95%, to $1,794.10. Corporate Movers Sprint Nextel (S) is exploring a counterbid for No. 5 player MetroPCS (PCS) that would trump T-Mobile USA's offer earlier this week, Bloomberg News reported. One obstacle could be hefty breakup fees that T-Mobile and MetroPCS would owe if either backs out of the tie-up. Facebook (FB) revealed it hit the one billion monthly active user mark in September. The milestone comes just over two years after the social network celebrated 500 million users. Google (GOOG) said it may slash more than the previously-announced 4,000 jobs at its Motorola Mobility business and raised the price tag on restructuring and severance charges for the third quarter to $340 million. Global Markets The Euro Stoxx 50 slipped 0.27% to 2485.75, London's FTSE 100 gained 0.03% to 5827.78 and the German DAX lost 0.23% to 7305.21. In Asia, Japan's Nikkei 225 jumped 0.89% to 8824.59 and Hong Kong's Hang Seng advanced 0.09% to 20907.95.
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S&P 500 Clinches Four-Day Win Streak on Data, Romney

The S&P 500 rallied for the fourth session in a row as investors' appetite for risk was boosted by better than expected economic reports and Mitt Romney's feisty debate performance.
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The Hindu : Business / Markets : Sensex breaches 19K-mark; up by 188 points
Business Markets
Sensex breaches 19K-mark; up by 188 points

PTI
The Hindu Brokers said trading sentiment remained bullish on continued buying by funds and retail investors on expectations that the government will accelerate pace of economic reforms by raising FDI cap in insurance sector. File photo
The Sensex on Thursday breached the 19,000 mark for the first time in 15 months as it rose 188 points ahead of the Cabinet meeting that is likely to consider big-ticket reforms like opening the pension sector to foreign investment and raising FDI cap in the insurance sector. After resuming 30 points lower compared to Wednesday, the BSE benchmark index hit 19,107.04, its highest since July 2011, around mid-session as investors poured funds across stocks in realty, consumer goods, banks, capital goods and power shares in anticipation of fresh reforms, said brokers. Rising for the fourth straight day, the 30-share Sensex closed at 19,058.15, up 188.46 points or 1 per cent, as 20 stocks led by Bhel (6.57 pc), ICICI Bank (2.93 pc), Dr Reddy (2.16 pc) and SBI (2.15 pc) ended higher. Sensex has gained 480 points in the last four days. Smart gains logged by ITC, HDFC Bank, L&T and TCS counters also helped the index sustain above the 19K mark today. The 50-share NSE Nifty after breaching 5,800-level, ended at 17-month high levels of 5,787.60 -- up 56.35 points. In the overall market, over 1,700 stocks rose while 1,244 scrips declined. Total investor wealth rose by Rs 48,000 crore to Rs 66.71 lakh crore, shows BSE data. Sensex has closed above 19,000 for the first time since July mainly on the wave of positive sentiment on account of expected reforms announced by the government. Liquidity infused by FIIs through consistent buying in the past few days also played a part, said K Subramanyam, AVP-Institutional Research, Asit C Mehta Investment Intermediates. Shares of companies with exposure to insurance business such as Aditya Birla Nuvo, Max India and Reliance Capital surged as much as 5 per cent today. The Cabinet later today is likely to consider measures like opening pension sector to foreign investment, raising FDI cap in insurance sector from 26 per cent to 49 per, the Forward Contract Regulation Act (Amendment) Bill and the Companies Bill. A proposal to set up a National Investment Board (NIB) for according fast-track clearances to infra projects is also expected be be taken up at the meeting. www.thehindu.com/business/markets/sensex-breaches-19kmark-up-by-188-points/article3964116.ec
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The Hindu : Business / Markets : Sensex breaches 19K-mark; up by 188 points
projects is also expected be be taken up at the meeting. Meanwhile, rupee gained for a fifth day to touch a five-and-half month high, breaching 52 to dollar for the first time since April 20, 2012. Keywords: Sensex, BSE, NSE, UPA government, economic reforms
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Rupee rebounds to Rs. 51-mark after 5-1/2 months Cabinet to take up another round of big ticket reforms Sensex rises 46 points as Oil, Gas, PSU scrips shine More In: Markets | Business
Printable v ersion | Oct 4 , 2 01 2 7 :3 6 :1 9 PM | http://www.thehindu.com /business/m arkets/sensex-breaches-1 9 km ark-up-by -1 88-points/article3 9 6 4 1 1 6 .ece The Hindu
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Sensex sails past 19,000, up nearly 200 pts

Source SIFY : Last Updated: Thu, Oct 04, 2012 10:03 hrs
Stocks surged higher and lifted the BSE benchmark Sensex up past the psychological 19,000 mark in early trades this morning as investors shrugged off weak global cues and indulged in some heavy buying almost across the board, betting on hopes the government will come out with more announcements on economic reforms following the cabinet meeting that will end today. At 19,060.92, off a high of 19,087.60, the Sensex is now up 191.23 points or 1.01% from its previous closing mark. The Nifty index of the National Stock Exchange, which spurted to 5798.60, is now up 60 points or 1.05% at 5791.25. Bank and realty stocks are up sharply. Oil stocks have moved higher following a sharp decline in global crude oil prices. Capital goods, power and automobile stocks too are mostly trading higher. Metal and FMCG stocks are up as well, while information technology stocks are subdued. BHEL is up 3.3% at Rs 258. ICICI Bank , Bharti Airtel , Dr Reddy'sLaboratories , HDFC Bank , HDFC , Reliance Industries , Tata Motors , ITC , Bajaj Auto ,Larsen & Toubro , Maruti Suzuki , Tata Steel , State Bank of India , Hindalco , ONGC andSterlite Industries are trading higher by 1% - 2.6%. Tata Power , Jindal Steel & Power , Infosys , Mahindra & Mahindra , Hindustan Unilever andNTPC are also trading firm. DLF , Axis Bank , Jaiprakash Associates , BPCL , Kotak Bank , Reliance Infrastructure ,Punjab National Bank , Grasim Industries , ACC and Siemens are up with sharp to moderate gains. Lupin , Cipla and HCL Technologies are down more than a percent. Tata Consultancy Services and Ranbaxy Laboratories are also trading notably lower.
10/11/12
The Hindu : Business / Markets : Sensex rallies 174 points ahead of Infosys earnings, IIP data
Business Markets
Sensex rallies 174 points ahead of Infosys earnings, IIP data

PTI
A file picture of Bombay Stock Exchange in Mumbai. Photo: Vivek Bendre.
The Hindu
Shrugging off negative sentiments, the Sensex on Thursday rallied nearly 174 points to close at 18,804.75 on all-round buying amid hopes of better-thanexpected September quarter earnings from Infosys and HDFC Bank, and growth in industrial production data. Brokers said investors were also enthused by Finance Minister P Chidambarams comment in Tokyo that there was no serious threat of downgrade of the countrys credit rating by Standard and Poors. After nose-diving by 162 points on Wednesday in a knee-jerk reaction to S&Ps rating downgrade threat, the BSE benchmark index today picked up pace around mid-session and the index hit the days high of 18,847.81. It finally closed at 18,804.75, a rise of 173.65 points or 0.93 per cent over the previous closing of 18,631.10. Infosys, L&T , ITC, Tata Motors and HDFC Bank fuelled todays rise. BHEL, Bharti Airtel and Sterlite Industries, which rose over 2 per cent each, were among the Sensex best performers. The NSE Nifty closed up 55.90 points at at 5,708.05. The rally has come ahead of multiple events tomorrow. Infosys will announce quarterly numbers. Todays 1.53 per cent gain in IT majors shares suggest upbeat expectations. HDFC Bank will also announce numbers. On top of these, August IIP number is also expected, said Milan Bavishi, Head Research, Inventure Growth & Securities. Overall, 1,656 stocks led by realty, capital goods, metal, power and banks gained while 1,183 scrips including shares from healthcare fell. Fertiliser stocks also advanced on reports that the government raised urea price by Rs 50 per tonne. Investor wealth, measured by market capitalisation, rose by Rs 64,000 crore to Rs 65.92 lakh crore. Keywords: Bombay Stock Exchange, Stocks, IIP Data, Infosys More In: Markets | Business
10/15/12
Bulls Reclaim Wall Street as Traders Cheer Data, Earnings | Fox Business
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Bulls Reclaim Wall Street as Traders Cheer Data, Earnings

By Adam Samson Pub lished Octob er 15, 2012 FOXBusiness
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FOX Business: Capitalism Lives Here Stocks posted a comeback rally Monday after a dour performance last week as traders reacted to better-than-expected retail sales data and earnings from banking behemoth Citigroup. Today's Markets The Dow Jones Industrial Average climbed 95.4 points, or 0.72%, to 13424, the S&P 500 gained 11.5 points, or 0.81%, to 1440 and the Nasdaq Composite rose 20.1 points, or 0.66%, to 3064. The Dow, S&P 500 and Nasdaq all slumped more than 2% last week in the worst slide since June amid continuing concerns about global growth and corporate profit prospects. The gains were fairly broad based on Monday, with all but one major S&P 500 sector ending in the green. The health-care, financial and consumer discretionary sectors performed the best, while telecommunications was the biggest laggard. There were also about double the number of trades in advancing shares than declining shares on the New York Stock Exchange. Earnings season was kicking into full gear on Monday.
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Citigroup (C) posted adjusted third-quarter earnings of $1.06 a share on $19.4 billion in revenues, topping Wall Streets forecast of 96 cents on
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The economic calendar is also quite full this week, with reports ranging the spectrum from manufacturing, to the retail and housing sectors and inflation. The Commerce Department said U.S. retail sales rose 1.1% in September from August, more than the 0.8% expected. Excluding the auto component, sales were up 1.1%, the biggest rise since January and topping estimates of 0.6%. Meanwhile, the New York Federal Reserve's regional manufacturing gauge rose to -6.16 in October, up from -10.41 in September. A reading of -4.55 was expected. Readings above zero point to expansion while those below indicate contraction. Energy futures fell sharply before making a dramatic recovery. The benchmark crude oil contract traded in New York fell a penny to $91.84 a barrel. Wholesale New York Harbor gasoline dropped 1.5% to $2.85 a gallon. In metals, gold dipped $22.10, or 1.3%, to $1,738 a troy ounce. Analysts also pointed to two key developments as helping to lighten sentiment after last week's fall. Inflation in China cooled off slightly to 1.9% on a year-to-year basis in September from 2% in August, boosting hopes that policymakers may have more wiggle room to provide further stimulus for the world's second-biggest economy. Then there was a report from Reuters over the weekend citing unnamed sources that said Spain may request a rescue in November. The eurozone's fourth-biggest economy is struggling with high borrowing costs, a stodgy economy and disagreements between its various regions. Foreign Markets The Euro Stoxx 50 gained 0.65% to 2485, the English FTSE 100 rose 0.21% to 5806 and the German DAX climbed 0.4% to 7261. In Asia, the Japanese Nikkei 225 climbed 0.51% to 8778 and the Chinese Hang Seng edged up by 0.06% to 21148.
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Bulls Reclaim Wall Street After Grim Week

Stocks posted a comeback rally Monday after a dour performance last week as traders reacted to better-thanexpected retail sales data and earnings from banking behemoth Citigroup.
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Sensex up 38 points on European cues; RIL rises ahead of results

PTI
The Hindu
Erasing morning losses, the Sensex on Monday closed 38 points higher at 18,713.55 on strong European market trends amid hopes of good results by RIL. After a slow start, the Sensex fell around 78 points to the days low of 18,596.65 amid data showing inflation rose to its highest level this fiscal at 7.81 per cent in September - a development that may restrain RBI from cutting rates. Headline WPI inflation of 7.81 per cent is unlikely to lead to the RBI starting to reduce repo rates on October 30, said Indranil Pan, Chief Economist, Kotak Mahindra Bank. However, with the European markets opening strong, buying activity resurfaced. The BSE benchmark index closed up by 38.37 points, or 0.21 per cent, at 18,713.55. Hindalco, Cipla, Dr Reddy and Tata Power were among the best performers in Sensex. Brokers said trading sentiment firmed up on hopes of better earnings today by RIL. After the initial weakness, the markets did get some wings to rise. Reliance Industries did its part to support the rise, ahead of its quarterly results, said Milan Bavishi, Head Research, Inventure Growth & Securities. Shares of RIL closed 0.54 per cent higher. In 30-share Sensex, overall 18 stocks climbed led by stocks of FMCG and Oil and Gas. However, Maruti, Sterlite and CIL led 12 losers. A firming trend in Asia and higher opening in Europe on renewed hopes of some solution to Eurozone debt crisis, also remained a positive factor for Indian market, brokers added. The broad-based National Stock Exchange index Nifty rose by 11.20 points, or 0.20 per cent to 5,687.25, after touching the days low of 5,651.05. Keywords: Bombay stock exchange, RIL, European market, Eurozone debt criis, Nobel peace prize More In: Markets | Business
Printable v ersion | Oct 1 5, 2 01 2 9 :1 7 :3 3 PM | http://www.thehindu.com /business/m arkets/sensex-up-3 8-points-on-european-cues-ril-rises-ahead-ofresults/article3 9 9 9 4 4 0.ece
10/15/12
Stocks end higher, with earnings in focus - Oct. 15, 2012
Stocks end higher on earnings and economic data

By Ben Rooney @CNNMoneyInvest October 15, 2012: 4:19 PM ET
NEW YORK (CNNMoney) -- U.S. stocks moved higher Monday as investors welcomed a sharp rise in retail sales and better-than-expected quarterly earnings from Citigroup. The Dow Jones industrial average gained 0.7%, the S&P 500 rose 0.8%, and the Nasdaq advanced 0.6%. Bank stocks were among the best performers after Citigroup ( C, Fortune 500) reported third-quarter earnings that topped analysts' forecasts. Shares of Citi rose 5.5%. Bank of America ( BAC, Fortune 500) and JPMorgan ( JPM, Fortune 500) were also higher. Goldman Sachs ( GS, Fortune 500), which reports earnings Tuesday morning, rose 3.6%. Economic reports released Monday showed signs of improvement in retail sales and manufacturing. Retail sales jumped 1.1% in September, boosted by higher gas prices and electronic sales, according to the Census Bureau. Analysts expected a 0.7% rise. The Federal Reserve Bank of New York's Empire State Manufacturing Index remained in negative territory in October, but improved to a reading of minus 6.2 compared to minus 10.4 in September. "The data are giving a lift to the market here," said Peter Cardillo, chief market economist at Rockwell Global Capital. But he cautioned that the gains may not hold since the market "is in the midst of a pullback." Stocks declined more than 2% last week, with the Dow logging its biggest weekly loss since June 1. The retreat comes as investors brace for a slew of profit and sales data from corporate America. Companies in the S&P 500 are expected to report third-quarter earnings that were down 1% from last year, according to S&P Capital IQ. Peter Tuz, portfolio manager at Chase Investment Counsel in Charlottesville, Va., expects earnings to be "down but not devastating," adding that corporate leaders will probably issue "cautious guidance" for the quarters ahead. Among the blue chips reporting results this week are Intel ( INTC, Fortune 500), Bank of America ( IBM ( IBM, Fortune 500) and Johnson & Johnson ( JNJ, Fortune 500). Fear & Greed Index Overseas, a report Monday showed that inflation in China slowed in September. Chinese consumers paid 1.9% more for goods in September than they did a year earlier, the government's National Bureau of Statistics reported. That's down from a 2% increase in August. BAC, Fortune 500),
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Stocks end higher, with earnings in focus - Oct. 15, 2012
Asian markets ended mixed. The Shanghai Composite slipped 0.3%, the Hang Seng in Hong Kong was little changed, and Japan's Nikkei ticked up 0.5%. European stocks closed higher. Britain's FTSE 100 edged up 0.3%, the DAX in Germany added 0.4% and France's CAC 40 rose 0.8%. Related: Betting on Brazil Companies: Eli Lilly ( LLY , Fortune 500) shares rose 4% after the pharmaceutical company said a study of its gastric cancer drug showed positive results. Shares of rival drug maker Abbott ( ABT, Fortune 500) were up nearly 4% after it announced upbeat results for an initial study of its treatment of hepatitis C. Texas Instruments ( TXN, Fortune 500) shares gained on speculation that Amazon ( buy TI's smartphone microchip business. AMZN, Fortune 500) is in talks to
Shares of toy maker Hasbro ( HAS) fell more than 4% after analysts at Goldman Sachs downgraded the stock to sell. Goldman cited a sharp decline in the amount of money consumers spend on toys and games. Shares of rival toy company Mattel ( MAT, Fortune 500) also dipped. Sprint Nextel ( $20.1 billion. S, Fortune 500) said Monday that it reached an agreement to sell a 70% stake to Japan's Softbank for GCI, Fortune 500) and brokerage Charles Schwab ( SCHW, Fortune 500) both reported
Media conglomerate Gannett ( earnings that beat forecasts.
Currencies and commodities: The dollar rose against the euro, the British pound and Japanese yen. Oil for November delivery lost 1 cent to settle at $91.83 a barrel. Gold futures for December delivery dropped $22.10 to end at $1,737.60 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.67% from 1.66% late Friday.
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10/16/12
Stocks gain ground on solid earnings - Oct. 16, 2012
Stocks gain ground on solid earnings

By Hibah Yousuf @CNNMoneyInvest October 16, 2012: 4:37 PM ET
NEW YORK (CNNMoney) -- U.S. stocks ended the day higher Tuesday as investors welcomed a batch of strong corporate earnings and digested the latest inflation data. The Dow Jones industrial average added 0.9%, while the S&P 500 and Nasdaq increased more than 1%. Better-than-expected earnings from several companies drove the gains. Goldman Sachs ( GS, Fortune 500)' profit and revenue for the third quarter topped expectations, while Johnson & Johnson ( JNJ, Fortune 500)'s quarterly earnings also beat analysts' estimates. Mattel ( MAT, Fortune 500)'s profit exceeded forecasts and revenue rose for the first time since last year, while UnitedHealth ( UNH, Fortune 500) delivered robust third-quarter earnigns and raised its full-year outlook. But Citigroup's stole the spotlight with its unexpected announcement Tuesday that CEO Vikram Pandit is stepping down. Michael Corbat, who previously served as Citi's CEO of Europe, Middle East and Africa, was named as his replacement. Citigroup's president and chief operating officer, John Havens, also resigned. Shares of Citigroup ( C, Fortune 500) rose 1.6% following the surprising shakeup at the top.
Fear & Greed Index
Meanwhile, the September reading of the Consumer Price Index, the government's key metric for inflation, rose 0.6%. That's higher than the 0.5% increase that economists polled by Briefing.com had been expecting. Compared to a year earlier, prices have risen 2%. Based on this data, the Social Security Administration announced that recipients will receive a 1.7% cost-of-living increase in 2013. Industrial production rose 0.4% in September, according to the Federal Reserve. The reading was better than analysts were expecting. Companies: Shares of Murphy Oil ( MUR, Fortune 500) rose sharply higher after the company said it split into two separate companies, separating its exploration and production operations from its retail business of selling gasoline. Coca-Cola ( KO, Fortune 500) shares slipped after the company missed revenue forecasts.
Fossil ( FOSL) shares jumped after an analyst at Citigroup upgraded the stock to a buy rating with a $100 price target, up from netural. After the market close, Intel ( INTC, Fortune 500) reported earnings that beat Wall Street's expectations, but fell from a
1/2
year ago. Shares slipped in after-hours trading. Also after the closing bell, IBM ( IBM, Fortune 500) posted earnings that topped forecasts by a penny, but revenue fell short of expectations. Shares declined in after-hours trading. Related: Betting on Brazil World Markets: European stocks ended sharply higher. Britain's FTSE 100 rose 1.2%, the DAX in Germany added 1.6% and France's CAC 40 jumped 2.1%. Asian markets ended mostly higher. The Shanghai Composite finished flat, the Hang Seng in Hong Kong ticked up 0.3%, and Japan's Nikkei climbed 1.4%. Currencies and commodities: The dollar slipped against the euro and the British pound, but gained versus the Japanese yen. Oil for November delivery rose 24 cents to settle at $92.09 a barrel. Gold futures for December delivery rose $8.70 to settle at $1,749.20 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.73% from 1.66% late Monday.
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FOX Business: Capitalism Lives Here Wall Street posted big gains for the second day in a row Tuesday as traders cheered strong corporate earnings and upbeat data on the U.S. economy. Today's Markets According to preliminary calculations, the Dow Jones Industrial Average climbed 126 points, or 0.94%, to 13550, the S&P 500 gained 14.8 points, or 1%, to 1455 and the Nasdaq Composite rose 37 points, or 1.2%, to 3101. Energy, material and financial stocks were enjoying the best day by a wide margin, but every major sector was in the green. Traditionally defensive plays such as utilities and consumer staples lagged behind the broader markets. Traders had a slew of earnings to parse through ahead of the opening bell. Goldman Sachs (GS) unveiled third-quarter profits of $2.85 a share on revenues of $8.35 billion, beating estimates of $2.12 a share on sales of $7.3 billion. The investment bank also raised its quarterly dividend to 50 cents a share from 46 cents. Johnson & Johnson (JNJ) posted third-quarter earnings of $1.25 a
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CSX
CSX CORP....
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share, excluding special items, beating estimates by four cents. The health-care giants revenues came in at $17.1 billion, also better than forecasts of $16.98 billion. The Dow component also raised its full-year guidance to a range of $5.05 to $5.10 a share, from $5 to $5.07 a share. Coca-Cola (KO) revealed an adjusted third-quarter profit of 51 cents a share, meeting Wall Streets expectations. The beverage and snack makers sales came in at $12.34 billion, shy of estimates of $12.41 billion. Shares fell slightly in pre-market trading. UnitedHealth (UNH), the blue-chip insurer, revealed quarterly earnings of $1.50 a share, besting estimates of $1.34 a share. Revenues came in at $27.3 billion, slightly shy of Wall Street's estimates of $27.62 billion. The latest entrant to the Dow also raised its full-year 2012 outlook to a range of $5.20 to $5.25 a share, compared to expectations of $5.14. Then, after the close of trading, IBM (IBM ), Intel (INTC) and CSX (CSX) will take center stage. Also on the corporate front, Vikram Pandit stepped down as Citigroup's (C) CEO and will be replaced with Michael Corbat. Chief Operating Officer John Havens also resigned. Citigroup shares have tumbled some 89% during Pandit's tenure, which coincided with the global financial crisis and Citi's subsequent massive government bailout, according to data compiled by FOX Business. Traders also had a slew of economic reports to parse through. The Labor Department said inflation at the consumer level increased 0.6% in September from August, a bigger increase than the 0.5% economists expected, as energy prices jumped. Excluding food and energy, prices ticked up 0.1%, a smaller gain than the 0.2% expected. A separate report from the Federal Reserve showed U.S. industrial production revving up by 0.4% in September from August, a swifter pace than the 0.2% economists expected. Meanwhile, the National Association of Home Builders' gauge of housing-market sentiment climbed to 41 in October from 40 the month before -- notching the highest level since June 2006. The market for new homes, while still depressed relative to years before the housing market collapse, has been showing new signs of life. Oil futures were mildly lower after a volatile session on Monday. The benchmark crude oil contract traded in New York rose 24 cents, or 0.26%, to $92.09 a barrel. Wholesale New York Harbor gasoline fell 0.18% to $2.845 a gallon. In metals, gold gained $8.70, or 0.5%, to $1,746 a troy ounce. Foreign Markets The Euro Stoxx 50 soared 2.5% to 5148, the English FTSE 100 rallied 1.1% to 5871 and the German DAX advanced 1.6% to 7376. In Asia, the Japanese Nikkei 225 rallied 1.4% to 8701 and the Chinese Hang Seng edged up by 0.28% to 21207.
C
CITIGROUP IN...
37.25
+0.59
UNH
UNITEDHEALTH...
56.88
-0.61
KO
THE COCA COL...
37.90
-0.23
GS
GOLDMAN SACH...
123.22
-1.28
INTC
INTEL CORP....
22.35
+0.62
IBM
INTERNATIONA...
211.00
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The Hindu : Business / Markets : Sensex rallies 111 points
Business Markets
Sensex rallies 111 points

PTI
Wiping off initial losses, the BSE benchmark Sensex on Monday rallied by 111 points as investors were enthused by strong earnings from TCS and L&T, amid a firming global trend. After a lower start at 18,600.88, the Sensex bounced back to close higher by 111.13 poins, or 0.59 per cent, at 18,793.44 on steady funds inflow. Todays gains reversed the loss of 110 points reported by the index on Friday. The rally was led by stocks of capital goods, healthcare, banking and information technology sectors. Brokers said trading sentiment improved as investors picked up fundamentally strong stocks led by Tata Consultancy Services after the company posted attractive quarter earnings. TCS climbed 2.26 per cent to Rs 1,319.50 as company reported net profit 49.2 per cent to Rs 3,434 crore in the September quarter. Bajaj Auto rose 0.69 per cent to Rs 1,782.50 after it posted higherthanexpected earnings, followed by Larsen and Toubro (2.17 pc). They said market received further support on a similar recovery on the global front. In 30share BSE Sensex, 20 stocks closed higher. RIL and Infosys also rose. The capital goods sector index gained the most (1.30 per cent), followed by healthcare index (1.07 per cent). Banking index rose 1 per cent while IT index jumped by 0.84 per cent. Similarly, the 50share National Stock Exchange index Nifty rose by 32.90 points, or 0.58 per cent to 5,717.15, after touching a low of 5,658.05. Keywords: BSE, NSE, sensex, Nifty, closing trade More In: Markets | Business
Printable v ersion | Oct 2 3 , 2 01 2 6 :50:4 7 PM | http://www.thehindu.com /business/m arkets/sensex-rallies-1 1 1 -points/article4 02 2 4 2 7 .ece The Hindu
www.thehindu.com/business/markets/sensex-rallies-111-points/article4022427.ece?css=print
1/1
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Sensex rises 31 points in early trade

PTI
The Bombay Stock Exchange benchmark Sensex gained over 31 points in early trade on Thursday on the back of covering-up of short positions by participants following monthly expiry in the derivatives segment. The 30-share index, which had shed 83.42 points in the previous session on Tuesday, moved up by 31.51 points, or 0.16 per cent, to 18,741.53 with oil and gas, metals and realty sector stocks leading the recovery. Similarly, the wide-based National Stock Exchange index Nifty was up 6.05 points, or 0.10 per cent, to 5,697.45. The markets remained closed on Wednesday on account of Dussehra. Brokers said covering-up of pending short positions by participants as today is the last session of current months expiry in the derivatives segment influenced the trading sentiments. Besides, a slightly better trend at Asian bourses on signs of recovery in China, also supported the recovery, they said. In Asia, Hong Kong market gained 0.17 per cent, while Japans Nikkei Index was up by 0.34 per cent. The US dow Jones Industrial Average, however, ended 0.19 per cent lower in Wednesdays trade. Keywords: Sensex, BSE, Bombay Stock Exchange More In: Markets | Business
Printable v ersion | Oct 2 6 , 2 01 2 3 :58:08 AM | http://www.thehindu.com /business/m arkets/sensex-rises-3 1 -points-in-early -trade/article4 03 01 4 7 .ece The Hindu
10/25/12
Stocks Tick Up, Snap Two-Day Losing Streak | Fox Business


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FOX Business: Capitalism Lives Here After a choppy trading session, the markets managed to eke out a modest gain and end a two-day losing streak as traders mulled mixed corporate earnings and economic data. Today's Markets The Dow Jones Industrial Average climbed 26.34 points, or 0.2%, to 13104, the S&P 500 rose 4.2 points, or 0.3%, to 1413 and the Nasdaq Composite advanced 4.4 points, or 0.15%, to 2986. Corporate earnings have come squarely into focus, and a bevy of bigname players are set to report on the day. Ahead of the opening bell in New York, Procter & Gamble (PG) posted mixed results. The consumer products giant posted a core fiscal-first quarter profit of $1.06 a share, which excludes 10 cents in non-core charges, beating expectations of 96 cents a share. Sales came in at $20.7 billion, slightly shy of estimates of $20.78 billion. Energy heavyweight ConocoPhillips (COP) and telecommunications provide Sprint Nextel (S) beat on the bottom line as well. On the other end of the spectrum, airline operator United Continental (UAL) missed on profit and sales. Then after the closing bell, Apple (AAPL), the world's biggest publiclyINVESTING
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AMZN
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traded company, is set to report its earnings. As a result of its nearly $600 billion market capitalization, the iPhone maker's shares often have an outsize effect on the broader markets, particularly the tech-heavy Nasdaq. Amazon.com (AMZN) and insurer Chubb (CB) are among companies also taking the plate after 4:00 p.m. ET. The economic calendar was quite full as well. The Commerce Department reports orders for long-lasting goods climbed 9.9% in September from August, topping estimates of a 7.1% increase. Excluding the transportation segment, orders rose 2%, coming up short of estimates of an 0.8% gain. Economists said much of the gains in the headline reading was due to an big increase in aircraft orders. Paul Edelstein, director of financial economics at IHS Global insight, struck a cautious tone: "Volatile aircraft and defense orders aside, this latest durable goods report suggests that business investment spending has slowed in the face of weaker profits growth and global uncertainty," he wrote in a note to clients. The Labor Department said new claims for unemployment benefits fell to 369,000 last week from an upwardly revised 392,000 the week prior. Claims were expected to fall to 370,000 from an initially reported 388,000. The National Association of Realtors, meanwhile, said pending home sales rose 0.3% in September from August, less than the 2.1% expected. Sales are up 14.5% from a year ago. The housing market, while still depressed by historical standards, has been showing renewed signs of life. Also on the economic front, the British economy expanded at a pace of 1% in the third quarter, emerging from a double-dip recession. The figures came in ahead of economists forecasts of 0.6%, and a 0.4% contraction the prior quarter. Oil prices edged up after dropping for five days in a row. The benchmark contract traded in New York rose 39 cents, or 0.45%, to $86.12 a barrel. Wholesale New York Harbor gasoline surged 3.1% to $2.685 a gallon. In metals, gold climbed $11.60, or 0.68%, to $1,713. Foreign Markets The Euro Stoxx 50 fell 0.29% to 2483, the English FTSE 100 was flat at 5805 and the German DAX advanced 0.1% to 7200. In Asia, the Japanese Nikkei 225 rallied 1.1% to 9055 and the Chinese Hang Seng ticked up by 0.21% to 21810.
COP
CONOCOPHILLI...
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Quotes delayed at least 15 minutes. Real-time quotes provided by BATS Exchange. Market Data provided by Interactive Data ( Term s & Conditions ). Pow ered and Implemented by Interactive Data Managed Solutions . Company fundamental data provided by Morningstar . Earnings estimates data provided by Zacks. Mutual fund and ETF data provided by Lipper . Economic data provided by Econoday. Dow Jones & Company Terms & Conditions. This material may not be published, broadcast, rew ritten, or redistributed. 2012 FOX New s Netw ork, LLC. All rights reserved.
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The Hindu : Business / Markets : Sensex rebounds by 75 points on value-buying
Business Markets
Sensex rebounds by 75 points on value-buying

PTI
Brokers said todays upward move was supported by recent under-performers after RBI disappointed markets by not cutting repo rate. File photo
The Indian market received further boost on firming global trend after economic data from South Korea and Taiwan signalled that the global slowdown may be easing
The BSE benchmark Sensex on Wednesday recovered by 75 points on emergence of value-buying in metal, auto and pharma stocks as investors judged yesterdays fall as excessive amid firming global cues. The 30-share Sensex, which had lost 205 per cent in the previous session, bounced back by 74.53 points, or 0.40 per cent, to close at 18,505.38. Maruti Suzuki and Dr Reddys rose 2-3 per cent after robust earnings, while metal stocks including Hindalco, Jindal Steel and Sterlite Industries also notched up smart gains. Among Sensex components, overall 20 stocks gained including HDFC, SBI, ICICI Bank and Sun Pharma. Brokers said todays upward move was supported by recent under-performers after RBI disappointed markets by not cutting repo rate. Analysts said auto stocks were in demand on expectations the vehicle sales might surge due to the festival season, while banking shares rose on hopes of better earnings on hike in liquidity. The Indian market received further boost on firming global trend after economic data from South Korea and Taiwan signalled that the global slowdown may be easing. The National Stock Exchange index Nifty rose by 21.80 points, or 0.39 per cent, to close at 5,619.70, after touching the days low of 5,583.05. Sectorally, the BSE healthcare index gained the most (1.72 per cent), followed by auto sector (1.55 per cent), realty (1.43 per cent) and metal (1.20 per cent). Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets
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11/1/12
Stocks rally on upbeat economic data - Nov. 1, 2012
Stocks rally into November

By Hibah Yousuf @CNNMoneyInvest November 1, 2012: 4:30 PM ET
NEW YORK (CNNMoney) -- U.S. stocks started November with a strong rally Thursday, following mostly upbeat jobs reports. All three major indexes jumped more than 1%, as Wall Street continues to recover from a two-day trading suspension due to Superstorm Sandy. The Dow Jones industrial average rose 135 points, or 1%, the Nasdaq increased 1.4% and the S&P 500 jumped 1.1%. The gains came as investors parsed through a bevy of corporate and economic news, including planned job cuts, private sector job gains and initial unemployment claims. Those numbers are all a prelude to the government's monthly jobs report , which will be released before markets open Friday. While outplacement firm Challenger, Gray & Christmas reported the number of planned job cuts surged to a five-month high in October, two other reports were positive. Payroll processor ADP said U.S. private-sector employers added 158,000 jobs in October, which was above expectations, and weekly initial jobless claims fell by 9,000 to 363.000 last week, coming in lower than forecasts. "The employment numbers look a little stronger than we were anticipating," said Kim Forrest, senior equity analyst at Fort Pitt Capital. But Forrest warned that doesn't necessarily mean the October jobs report will be stronger than expected.
Related: What to expect from the jobs report
"From all the chatter that we've been listening to during company earnings calls, it doesn't seem like American companies have been doing much hiring," she said. "There may be some job growth at small businesses, but even with that, I'd be surprised to see a strong employment number." Economists surveyed by CNNMoney are expecting the economy to have added 125,000 jobs in October, up from 114,000 the prior month. They're also expecting the unemployment rate to tick up to 7.9%, from 7.8% in September.
Related: Knight Capital back in business
Meanwhile, U.S. manufacturing activity continued to rebound in October, and the Conference Board's consumer confidence index rose to the highest level since February 2008. Construction spending increased in September by the most in three months, though the jump was slightly less than analysts were looking for. Fear & Greed Index Companies: The corporate world was also busy Thursday. Better-than-expected earnings sent shares of Exxon Mobil ( XOM, Fortune 500) slightly higher.
money.cnn.com/2012/11/01/investing/stocks-markets/index.html?iid=HP_LN 1/3
11/1/12
Stocks rally on upbeat economic data - Nov. 1, 2012
Netflix ( NFLX) shares retreated after a massive 14% runup Wednesday. The previous day's gains came after famed corporate raider Carl Icahn disclosed he bought a 10% stake in Netflix , and strongly hinted he'd like a larger company to buy the streaming video and DVD service. Japan-based Panasonic ( PC) released an earnings report Thursday that was full of bad news. The electronics company posted a loss, dramatically lowered its forecast for the year, and announced it will suspend its dividend. Business conditions are expected to become "much more severe." Shares of the company declined. Also in Japan, Sony ( SNE) reported a narrower loss for its fiscal second quarter and reaffirmed its full-year forecast for a swing to profit. Its U.S.-traded gained ground. Shares of Ford ( F, Fortune 500) rose after the company announced that Alan Mulally would remain president and CEO through at least 2014, and named Mark Fields as chief operating officer. Shares of Visa ( V , Fortune 500) gained after its Wednesday earnings report topped analysts' estimates. Sirius ( also gained after the satellite radio company reported its new subscriber sign-ups were strong last quarter. Pfizer ( GM ( PFE, Fortune 500) slipped after it reported quarterly revenue that fell far below analysts' estimates. GM, Fortune 500) said its U.S. sales jumped 5% in October to the highest levels since 2007. AIG, Fortune 500), Starbucks ( SBUX, Fortune 500) and LinkedIn ( LNKD) reported SIRI)
After the closing bell, AIG ( results.
Shares of Starbucks spiked in after-hours trading after the coffee chain hiked its dividend as it beat its profit and revenue forecast. AIG also topped expectations, but shares of the insurance giant slipped in after-hours trading. LinkedIn's stock bounced in after-hours trading after the company topped Wall Street's expectations. World Markets: European stocks closed sharply higher. Britain's FTSE 100 rose 1.3%, the DAX in Germany increased 1% and France's CAC 40 added 1.4%. Asian markets closed higher. The Shanghai Composite had the strongest gains, up 1.7%, while the Hang Seng in Hong Kong jumped 0.8%, and Japan's Nikkei rose 0.2%. China's government reported earlier in the day that its official purchasing manager's index jumped to 50.2 in October, from 49.8 the previous month. Any reading above 50 indicates that factory conditions are improving in the manufacturing sector. Currencies and commodities: The dollar rose versus the euro, the British pound and the Japanese yen. Oil for December delivery added 85 cents to settle at $87.09 a barrel. Gold futures for December delivery fell $3.60 to settle at $1,715.50 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury edged lower, pushing the yield up to 1.72% from 1.69% late Wednesday.
First Published: November 1, 2012: 9:43 AM ET
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Wall Street Rallies in November Opener | Fox Business


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FOX Business: Capitalism Lives Here Stocks kicked off the month with big gains Thursday as traders cheered a handful of upbeat economic data ahead of the all-important monthly jobs report from the Labor Department. Today's Markets The Dow Jones Industrial Average jumped 136 points, or 1%, to 13233, the S&P 500 climbed 15.4 points, or 1.1%, to 1428 and the Nasdaq Composite advanced 42.8 points, or 1.4%, to 3020. The markets capped October on a weak note, with the Dow sliding some 2.5%. The tech-heavy Nasdaq fared worse, tumbling 4.5%. November was off to a much better start. Upbeat Data The ADP National Employment Report showed the U.S. private sector added 158,000 jobs in October, more than the 135,000 expected. The Labor Department said new claims for unemployment benefits fell to 363,000 last week from an upwardly revised 372,000 the week prior. Claims were expected to rise to 370,000 from an initially reported 369,000. Planned job cuts by U.S. firms soared 41% to 47,724 to a five-month high in October from September, according to Challenger, Gray & Christmas. The all-important monthly jobs report from the Labor Department is on tap for Friday.
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The Conference Board's index of U.S. consumer confidence rose to 72.2 in October from a downwardly revised 68.4 in September. The results missed estimates of a reading of 72.5, but marked the index's highest level since February 2008. The Institute for Supply Management Manufacturing PMI gauge rose to 51.7 in October from 51.5 in September, the highest reading since May. The index was expected to fall to 51.2. Readings above 50 indicate expansion while those below indicate contraction. China's official PMI gauge showed manufacturing activity expanding slightly in October after contracting slightly the month before. A separate PMI reading from HSBC showed the manufacturing sector in the world's No. 2 economy contracting at the slowest pace in eight months. Hongbin Qu, the bank's chief economist for China, said in the report that the data show "industrial activity continues to bottom out following a modest pickup last month." On the corporate front, earnings season marched on Thursday. Mixed Earnings ExxonMobil (XOM ) posted quarterly profits of $2.09 a share, topping estimates of $1.95. The world's biggest publicly-traded integrated energy company's sales of $115.7 billion beat estimates of $112.4 billion.
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Pfizers (PFE) adjusted third-quarter profit of 53 cents a share came in line with Wall Streets expectations. However, the drug makers sales of $14 billion missed forecasts of $14.64 billion. Pfizers board also announced a new $10 billion share repurchase program. After the close of trading, results are expected from American International Group (AIG), Starbucks (SBUX) and LinkedIn (LNKD). Ford Motor (F) said Alan Mulally plans to continue serving as president and CEO until at least 2014. Mark Fields was also named COO. Oil futures were modestly higher. The benchmark contract traded in New York rose 85 cents, or 0.99%, to $87.09 a barrel. Wholesale New York Harbor gasoline climbed 0.13% to $2.634 a gallon. In metals, gold fell $3.60, or 0.21%, to $1,716 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 1% to 2530, the English FTSE 100 gained 1.2% to 5854 and the German DAX climbed 0.86% to 7323. In Asia, the Japanese Nikkei 225 edged up 0.21% to 8947 and the Chinese Hang Seng drifted higher by 0.83% to 21822.
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Published: November 2, 2012 16:47 IST | Updated: November 2, 2012 17:10 IST
Sensex up for third day, gains 194 points

PTI
Rising for the third straight day, the BSE benchmark Sensex on Friday spurted by nearly 194 points to over one-week high of 18,755.45 on heavy buying in capital goods, auto and bank shares amid a firming trend in global markets on upbeat U.S. economic data. The Sensex, which had gained over 130 points in last two trading sessions, rose further by 193.75 points, or 1.04 per cent to 18,755.45 the highest since October 25, 2012 when it ended at 18,758.63. Twenty six stocks in the 30-share index closed with gains led by Gail, Bajaj Auto, L&T and ICICI Bank. The wide-based National Stock Exchange index Nifty rose by 52.65 points, or 0.93 per cent, to close at 5,697.70. Brokers also said trading sentiment was bolstered after IT major Wipro reported 23.8 per cent growth in consolidated net profit for the second quarter ended September 30, 2012. Its shares, which closed one per cent higher, helped improve sentiment in the IT pack with TCS and Infosys also up over 1 per cent each. Capital goods stocks, including L&T and Bhel, were among the best performers on the back of foreign funds flow while realty, auto and metal stocks also scored gains. Besides, a firming trend on the Asian bourses and a higher opening on the European markets eyeing robust U.S. jobs and manufacturing data later Friday, also triggered buying activity on the domestic bourses, they said. The BSE capital goods sector index topped the sectoral charts on Friday with a rise of 1.74 per cent. All the 13 sectoral indices closed with gains. Keywords: Sensex, BSE, Nifty, NSE, closing trade, Indian stock markets
11/6/12
The Hindu : Business / Markets : Sensex up for 5th day, gains 54 points
Business Markets
Sensex up for 5th day, gains 54 points

PTI
The BSE benchmark Sensex on Tuesday rose by over 48 points in early trade. File photo
The Hindu
The Sensex, which had gained 332 points in last four trading sessions, finally closed 54.51 points, or 0.29 per cent, higher at 18,817.38. Cipla led the 17 gainers in 30-share index, followed by Jindal Steel.
Rising for fifth straight day, the BSE benchmark Sensex on Tuesday closed 54 points higher at 18,817.38 helped by jump in Cipla shares after robust earnings and good gains in banking stocks, including HDFC Bank and SBI, ahead of the festive season. Brokers said there was stock-specific action on better earnings by companies and foreign funds bought shares after a steep fall in rupee yesterday. The rupee, however, was last trading at 54.43, up 17 paise from 54.61 a dollar on Monday. Trading began on a cautious note at 18,739.97 and the stock market remained lacklustre for most of the session as Sensex traded in a narrow range of 18,829.07 and 18,726.94. The Sensex, which had gained 332 points in last four trading sessions, finally closed 54.51 points, or 0.29 per cent, higher at 18,817.38. Cipla led the 17 gainers in 30-share index, followed by Jindal Steel. Cipla was up by about 4 per cent following its robust Q2 numbers. Banking and power were the other major gainers. Auto sector was down today, said Nidhi Sarswat, Senior Research Analyst, Bonanza Portfolio. Banking and financial shares HDFC, SBI and HDFC Bank gained in the 0.5-1 per cent range on hopes of robust loan demand during festive season. RIL and Infosys also ended up. Overall, the stock markets saw rise in realty and banking sectors while auto and capital goods saw some selling. The 50-share NSE benchmark Nifty closed 20.20 points, or 0.35 per cent, higher at 5,724.40. Globally, stock markets remained mixed as investors sought the safety of dollar before the US Presidential polls and a Greek parliamentary vote on key austerity measures. Keywords: Sensex, BSE, Nifty, NSE, Indian stock markets, opening trade More In: Markets | Business
Printable v ersion | Nov 7 , 2 01 2 3 :2 8:2 3 AM | http://www.thehindu.com /business/m arkets/sensex-up-for-5th-day -gains-54 -points/article4 07 003 1 .ece
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Wall Street Posts Election-Day Rally, Dow Jumps 133 | Fox Business

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FOX Business: Capitalism Lives Here Wall Street zoomed higher Tuesday in a broad-based advance as Americans headed to the polls to elect the next president. Today's Markets The Dow Jones Industrial Average jumped 133 points, or 1%, to 13246, the S&P 500 gained 11.1 points, or 0.78%, to 1428 and the Nasdaq Composite climbed 12.3 points, or 0.41%, to 3012. In a sign of the breadth of the rally, nine of ten S&P 500 sectors were in the green on Tuesday. The energy, material, financial and industrial sectors led the gains, while utilities dragged behind. Volatility slid some 4% as tracked by the CBOE's VIX, sometimes referred to as Wall Street's fear gauge. Commodities rallied across the board. Election in the Spotlight Trading desks across the world were fixated on the American presidential election, the results of which are likely to play a big role in shaping the world's leading economy in years to come. Last-minute polling showed President Barack Obama and Mitt Romney locked in a very tight race. A significant concern among market participants was also the uncertainty that could be caused by the election dragging out over several days or weeks.
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Wall Street Posts Election-Day Rally, Dow Jumps 133 | Fox Business
"Election results will come down to voter turnout and, with the polls as close as they are, there is a non-negligible risk of a vote count dragging on beyond tonight," analysts at Nomura warned clients. "Any doubt over the validity of election results ... could worsen tensions ahead of the fiscal cliff debates." Analysts at Barclays echoed that sentiment, saying: "The importance of economic policymaking, the significant differences between the two candidates, the closeness of the polls and the results possible effect on bond yields make this a particularly important election in terms of potential short-run effects." Indeed, the U.S. is barreling toward the so-called fiscal cliff, a painful combination of federal spending cuts and tax hikes that could weigh heavily on economic growth. Political analysts have said that avoiding that outcome, while likely, will require careful stewardship by the White House and in Congress. On the economic front, U.K. industrial output slid 1.7% in September from the month before, which was more than double the drop economists expected. Meanwhile, Spanish newspaper El Pais reported that the European Union expects Spain's economy to shrink 1.6% this year compared to Madrid's estimate of 1.5%. In corporate news, AOL (AOL) and CVS Caremark (CVS) both posted quarterly earnings that topped expectations on the top and bottom lines. Commodity Rally Oil prices raced higher. The benchmark contract traded in New York jumped $3.06, or 3.6%, to $88.71 a barrel. Wholesale New York Harbor gasoline soared 3% to $2.699 a gallon. Gold soared $31.80, or 1.9%, to $1,715 a troy ounce. Foreign Markets The Euro Stoxx 50 gained 0.73% to 2536, the English FTSE 100 rose 0.79% to 5885 and the German DAX climbed 0.7% to 7378. In Asia, the Japanese Nikkei 225 fell 0.36% to 8975 and the Chinese Hang Seng dipped 0.28% to 21944.
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Stocks end week on a high note on hopes for fiscal cliff deal - Nov. 16, 2012
Stocks end week on high note on hopes for fiscal cliff deal
NEW YORK (CNNMoney) -- U.S. stocks ended with slight gains Friday afternoon, as investors welcomed positive comments from Washington lawmakers on the fiscal cliff negotiations but remained cautious ahead of an actual deal. The Dow Jones industrial average , S&P 500 and Nasdaq added between 0.3% and 0.6%. Despite the day's uptick, stocks ended another week in the red. The Dow and Nasdaq fell 1.8%, while the S&P 500 declined 1.5%. The three major indexes fell between 0.5% and 0.9% at the start of trading Friday, but were quickly pulled into positive territory after top congressional leaders seemed optimistic following their meeting with President Obama about the fiscal cliff, the automatic onset of tax increases and spending cuts starting in January. House Speaker John Boehner called the meeting "very constructive," noting that he outlined a framework that includes revenue and is "consistent with the president's fair and balanced approach." And Senate Majority Leader Harry Reid said that he felt "very good" about the talks and believes that they now have "the cornerstones of being able to work something out." Though markets were able to end the week on the upside, trading will likely remain choppy as the fiscal cliff remain in the spotlight. "The encouraging noises emanating from Washington make it more likely, although it is still far from certain, that a deal to prevent the fiscal cliff will be reached and that any adverse impact on the economy will be fleeting," said John Higgins, senior markets economist at Capital Economics. "However, the stock market is likely to remain under pressure until a deal is done." Investors have been on edge since Election Day while keeping close tabs on the fiscal cliff debate. Since Obama's reelection last week, all three indexes are down about 5%. T And the Nasdaq composite is down more than 10% from its 12-year high reached in September, putting the tech-heavy index in correction territory. Earlier Friday, a Federal Reserve report showed U.S. industrial production fell 0.4% in October. While the data fell short of economists' forecasts, it was likely impacted by Superstorm Sandy. Investors will also mull the Federal Reserve's latest guidelines for bank stress tests, released Thursday evening.
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Stocks end week on a high note on hopes for fiscal cliff deal - Nov. 16, 2012
In Europe, investors also have their attention on the fiscal cliff negotiations in the United States. Britain's FTSE 100 and the DAX in Germany fell 1.3% and France's CAC 40 slipped 1%. Asian markets ended mixed. The Shanghai Composite lost 0.8%, while the Hang Seng in Hong Kong gained 0.2%, and Japan's Nikkei rose 2.2%. Companies: Dell ( DELL, Fortune 500) shares tumbled nearly 7% after the company announced disappointing third quarter results late Thursday, falling short of forecasts on both revenue and earnings. Income fell 47% over the same period last year, on weak PC sales. Rival Hewlett-Packard ( HPQ, Fortune 500), also fell, making it the biggest laggard on the Dow. HP is set to report its latest earnings next Tuesday. Gap ( GPS, Fortune 500) shares rose after the retailer reported strong third quarter earnings late Thursday.
Sears Holdings ( SHLD, Fortune 500), led by hedge fund manager Eddie Lampert, posted a quarterly loss Thursday of $498 million, much worse than analysts were expecting and wider than its year-earlier loss. Sales slid about 6% during the quarter. Shares of Sears sank 20% , making it the worst performer on the S&P 500. Facebook ( FB) rose more than 6% Friday, capping a strong week for shares of the social network. The stock gained more than 20% despite fears of a sell-off following the expiration of a lock-up period for more than 800 million shares. Currencies and commodities: The dollar rose against the euro and the Japanese yen, but slipped versus the British pound. Crude oil for December delivery rose $1.22 to settle at $86.67 a barrel. Investors are closely watching violence in the Middle East. Israel launched a series of air strikes Wednesday on what it said were terrorist targets in Gaza, and the Palestinian group Hamas vowed retaliation. Gold futures for December delivery added 90 cents to settle at $1,714.70 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury edged higher, pushing the yield down to 1.58% from 1.59% late Thursday.
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Markets Turn Around After Fiscal Cliff Comments | Fox Business


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Markets Turn Around After Fiscal Cliff Comments

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Pub lished Novemb er 16, 2012
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FOX Business: Capitalism Lives Here Wall Street climbed into positive territory following encouraging comments from top U.S. lawmakers that efforts to avert the fiscal cliff would be productive. Today's Markets As of 3:20 p.m. ET, the Dow Jones Industrial Average climbed 48.6 points, or 0.39%, to 12591, the S&P 500 rose 7.2 points, or 0.56%, to 1361 and the Nasdaq Composite gained 21 points, or 0.74%, to 2858. It's been another tough week for Wall Street. The Dow and Nasdaq are trading at June lows, while the S&P 500 is at its lowest level since July. The fiscal cliff -- a mixture of painful spending cuts and tax hikes -- that is set to go into effect at the beginning of next year has been a major cause of concern. The cliff is a vestige of the last debt debate in Congress, where lawmakers failed repeatedly to come to a so-called "grand bargain" to set the country on a more sustainable path. Now that elections have broadly reaffirmed the status quo in Washington, there is concern that politicians could fail to reach a deal. "Initial positions in the fiscal cliff negotiations between President Obama and the Congressional Republicans suggest that the likelihood of hitting the cliff, at least temporarily, is non-trivial," analysts at Barclays wrote in a note to clients. If the U.S. falls off the cliff, it is likely to badly damage the already struggling economy. Plus, it could put the American debt rating in jeopardy. Moody's Investors Service and Fitch Ratings still retain top-notch ratings on the U.S., but have threatened to chop it down if an agreement isn't reached. Standard & Poor's, the only major credit ratings firm to have the U.S. at less than a 'AAA' also has a negative outlook. The White House and Congress began talks on making a deal on Friday. After the meeting, House of Representatives Speaker John Boehner, the top-ranking Republican, said progress was made during the meeting. Both tax reform and spending cuts were on the table. Market participants also said they were watching the unfolding turmoil in the Middle East. Israel has been performing strikes on targets in Palestine, while groups in that country continue lobbing rockets back into Israel. According to news reports, a rocket was fired at Tel Aviv, Israel's business capital, and Jerusalem, home of many holy sites. That rockets missed,
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but highlight the rising tensions and chance of an armed conflict in the already volatile region. In commodities, the benchmark crude oil contract rallied $1.22, or 1.4%, to $86.67 a barrel. Wholesale New York Harbor gasoline rose 0.52% to $2.714 a gallon. Gold ticked up by 90 cents, or 0.05%, to $1,715 a troy ounce. On the macro front, a report from the Federal Reserve showed U.S. industrial production having fallen by 0.4% in October from the month before. Wall Street expected a gain of 0.2%. However, the central bank said Hurricane Sandy sapped one percentage point from the monthly change level. Foreign Markets The Euro Stoxx 50 fell 0.39% to 2452, the English FTSE 100 dipped 0.69% to 5638 and the German DAX slumped 0.51% to 7008. In Asia, the Japanese Nikkei 225 soared 2.2% to 9024 and the Chinese Hang Seng edged up 0.24% to 21159.
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Rich Edson contributed reporting from Washington, D.C.

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The Hindu : Business / Markets : Sensex ends six-day losing run, up 30 pts
Business Markets
Sensex ends six-day losing run, up 30 pts

PTI
The Sensex, which had tumbled to two-month lows by losing 593 points in the past six sessions, recovered 29.63 points, or 0.16 per cent to 18, PTI 339 led by auto and FMCG sectors. File Photo: PTI
Ending its six-day string of losses, the BSE benchmark Sensex on Monday advanced by 30 points to close at 18,339 on the back of gains in Maruti Suzuki, Bharti Airtel and ITC amid a firming global trend. The Sensex, which had tumbled to two-month lows by losing 593 points in the past six sessions, recovered 29.63 points, or 0.16 per cent to 18, 339 led by auto and FMCG sectors. The index moved between 18, 386.78 and 18, 256.07 during trading. 13 stocks of the 30-share Sensex gained while 17 including Tata Power, TCS, Tata Steel and HDFC declined. Brokers said buying at low levels in selective counters helped Sensex end in positive zone amid investors judging the recent losses as overdone. Maruti led the gainers in Sensex with a 3.87 per cent rise, followed by Bharti Airtel. The telecom major shot up to three-month high by adding 2.89 per cent on reports that Credit Suisse has upgraded the stock to outperform. ITC, Bajaj Auto and M&M rose in 1.6-2.7 per cent range. Sectorally, the BSE Auto sector index gained the most by rising 1.04 per cent, followed by BSE FMCG index (0.87 per cent), BSE Teck (0.06 per cent and BSE realty (0.02 per cent). After initial volatility, the markets remained range bound for most of the day. While we had seen sharp declines toward the end of the last week, today any kind of fall was arrested by the strengthening of Rupee versus US dollar. The US dollar fell 0.4 per cent for the day, said Milan Bavishi, Head Research, Inventure Growth & Securities. Traders said the domestic stock market was helped by firming Asian trends and higher opening in Europe on reports that US President Barack Obama has signalled confidence of striking a deal with Congress on a new budget.
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The Hindu : Business / Markets : Sensex ends six-day losing run, up 30 pts
However, the 50-share National Stock Exchange index Nifty eased by 2.65 points to settle at 5,571.40. Keywords: Sensex, closing stock, stock market More In: Markets | Business Comments Recommended Post a comment
Printable v ersion | Nov 1 9 , 2 01 2 7 :05:4 2 PM | http://www.thehindu.com /business/m arkets/sensex-ends-sixday -losing-run-up-3 0-pts/article4 1 1 1 6 6 6 .ece The Hindu
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FOX Business: Capitalism Lives Here Wall Street roared Monday after a dour week amid optimism lawmakers in Washington will continue making progress on budget negotiations. Today's Markets As of 11:50 a.m. ET, the Dow Jones Industrial Average climbed 155 points, or 1.2%, to 12744, the S&P 500 gained 20.6 points, or 1.5%, to 1380 and the Nasdaq Composite rose 45.7 points, or 1.6%, to 2899. Every major sector was recently in the green. The best performers were energy, materials, financial, consumer discretionary, technology and industrial stocks. Meanwhile utilities performed the worst. Volatility fell 4.2% as tracked by the CBOE's VIX, frequently referred to as Wall Street's fear gauge. Traders also ditched U.S. Treasury bonds, pushing the yield on the 10-year up to 1.622%. Fiscal Hopes The markets took a beating last week, with the Dow tumbling 1.8% in its fourth-straight weekly retreat. Headlines concerning the looming U.S. fiscal cliff have been garnering much attention in recent weeks. On Friday, President Barack Obama met with lawmakers on both sides of the aisle. The conversations were constructive, according to statements by the White House and House of Representatives Speaker John Boehner, the leading Republican in Congress. Over the weekend, the president held calls with a wide range of business leaders, including J.P. Morgan Chase's (JPM ) Jamie Dimon and Apple's (AAPL) Tim Cook. "The late-day rally in the U.S. on Friday on hopes that Republicans and Democrats may reach a compromise ahead of the fiscal cliff has carried market sentiment," analysts at Nomura wrote in a note to clients. The fiscal cliff, which is a painful dose of automatic spending cuts and tax hikes that go into effect at the beginning of next year, represents a significant risk to the economy, according to many economists. However, a sharply divided Congress has put the passage of measures to avert the cliff in jeopardy. On the economic front, existing home sales rose 2.1% in October from September to a 4.79-million unit annualized rate, coming in slightly ahead of estimates of a 4.75-million unit annualized rate, according to the National Association of Realtors. The median sale price for an existing
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home has lurched higher by 11.1% to $178,600 from the year before. "Altogether, the report is encouraging," Barclay's Michael Gapen wrote in a note to clients. "Our view is that housing is in a recovery phase, but one that will be restrained by the availability of credit, the pace of improvement in labor market conditions, and the overhang from distressed and foreclosed properties." The housing market that was pounded during the financial crisis has been showing fresh signs of life in recent months, although economists warn the rebound seen of late comes from very depressed levels. The conflict between Israel and Palestine continued heating up over the weekend, with both sides repeatedly striking each other. The growing specter of war in the Middle East has put upward pressure on energy markets that tend to be particularly vulnerable to geopolitical uncertainty. The benchmark oil contract traded in New York climbed $2.40, or 2.8%, to $89.32 a barrel. Wholesale New York Harbor gasoline rose 2% to $2.763 a gallon. Gold advanced by $18.50, or 1.1%, to $1,733 a troy ounce. In corporate news, Intel (INTC) President and Chief Executive Officer Paul Otellini will retire in May, the chipmaker said. Lowe's (LOW) posted better-than-expected results on the top and bottom lines. HSBC (HBC) said it was in discussions to sell its stake in Ping An Insurance, China's No. 2 life insurer. According to news reports, the deal could bring in $9.3 billion. Cisco (CSCO) unveiled plans to scoop up cloud networking startup Meraki for $1.2 billion in cash. Foreign Markets The Euro Stoxx 50 rallied 2.8% to 2495, the English FTSE 100 jumped 2.4% to 5738 and the German DAX zipped higher by 2.5% to 7124. In Asia, the Japanese Nikkei 225 advanced 1.4% to 9153 and the Chinese Hang Seng edged up by 0.49% to 21262.
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Stocks biggest rally months on fiscal cliff hopes - Nov. 19, 2012
Stocks enjoy biggest rally in months

NEW YORK (CNNMoney) -- U.S. stocks rallied Monday, logging their best gains in months, as investors started the holidayshortened week optimistic that fiscal cliff negotiations in Washington are progressing. The Dow Jones industrial average jumped more than 200 points, or 1.7%, with financial stocks Bank of America ( BAC, Fortune 500) and JPMorgan Chase ( JPM, Fortune 500) among the top leaders. The S&P 500 added 2% and the Nasdaq surged 2.2%. Technology stocks were also big gainers, with Apple ( AAPL, Fortune 500) jumping more than 7%.
The day's gains were the biggest since early September for the Dow and S&P 500. The Nasdaq had its best day since July. The broad rally started last Friday , after President Obama and congressional leaders wrapped up their first fiscal cliff meeting since the election. Investors were encouraged after both Democrats and Republicans emerged from the meeting with a confident tone and suggested that agreement could be reached before Jan. 1, when federal spending cuts and tax increases are scheduled to take effect. "The question of whether or not the fiscal cliff will be avoided is impossible to answer with any degree of certainty, but the political reality does indicate that some sort of compromise may be possible," said Bob Doll, senior advisor at BlackRock. "The two sides still appear to be quite far apart on some important issues, particularly regarding a potential tax increase for higher-income Americans. But the parties are at least attempting to avoid brinksmanship." While the rhetoric out of Washington is slightly more positive, experts think stocks will remain under pressure and trading will likely be choppy until an actual deal is finalized, which is still likely weeks away. Even factoring the day's gains, the three major indexes are well off their multi-year highs reached earlier this fall. The Dow and S&P 500 are down about 6% from those levels, while the Nasdaq is down more than 8%. Last week, the tech-heavy index had briefly entered correction territory when its slide has extended to 11%.
Related: Dividend investors prepare for fiscal cliff
Meanwhile, two better-than-expected reports on the housing market also gave markets a lift Monday. Existing home sales rose 2.1% to an annual rate of 4.79 million in October, despite the impact of Superstorm Sandy. That compares with analysts' estimates for a rate of 4.70 million. And the National Association of Home Builders' sentiment index rose for a seventh straight month to 46, its highest level since May 2006. Analysts were expecting a reading of 42. Investors are also keeping a close eye on escalating violence in the Middle East between Israel and Islamist political group Hamas. Oil prices have been ticking up amid growing concern about a possible ground war in Gaza.
11/19/12
Stocks biggest rally months on fiscal cliff hopes - Nov. 19, 2012
Crude oil for January delivery rose 2.7% and settled at $89.28 a barrel. Brent crude -- Europe's benchmark -- gained 2.6% to $111.75 a barrel. Markets will have a shortened week, as the exchanges close Thursday for Thanksgiving Day and have an abbreviated trading day Friday.
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World Markets: European stocks closed with solid gains. Britain's FTSE 100 rose 2.4%, and France's CAC 40 added 2.5% while the DAX in Germany gained 2.9%. Asian markets closed higher. The Shanghai Composite edged up 0.1%, while the Hang Seng in Hong Kong was up 0.5% and Japan's Nikkei rallied 1.4%. Companies: Shares of Intel ( INTC, Fortune 500) rose slightly after the company said CEO Paul Otellini will retire in May. The board of directors will conduct a search for his successor. Shares of Lowe's ( LOW, Fortune 500) gained ground after the home improvement retailer reported better-thanexpected earnings of 40 cents a share on sales of $12.1 billion. Nokia ( NOK) shares jumped on reports that the Lumia 920 sold out in Germany. Shares of Best Buy ( BBY , Fortune 500) ended the day flat despite a report that the retailer might consider a lower buyout bid from founder Richard Schulze. Best Buy is due to report earnings before the market opens Tuesday. Tyson Foods ( TSN, Fortune 500) shares surged after meat company's outlook topped expectations. The company's chicken business also returned to profitability during the third quarter. Shares of Lions Gate Entertainment ( LGF), the movie studio behind the Twilight series, rose after "Twilight: Breaking Dawn Part 2" raked in $141.3 million during its opening weekend. It's the fourth movie this year to open above the $140 million mark. Movie theater chains Regal Entertainment Group ( RGC), Cinemark Holdings ( CNK) and Carmike Cinemas ( CKEC) also got a lift. Currencies and commodities: The dollar was lower against the euro and the British pound, but rose versus the Japanese yen. Gold futures for December delivery gained $19.70, or 1.2%, to settle at $1,734.40 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury fell, lifting the yield to 1.62% from 1.57% late Friday.
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Hostess, Union Agree to Mediation Hostess Brands and one of the snack makers unions have agreed to private mediation taking place on Tuesday that could stave off a liquidation. New Plan to Fix the Cliff, or More Can Kicking? What if the fiscal cliff was solved by initiating another fiscal cliff? It sounds like a riddle, but it's actually one possible solution under consideration in Washington.
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Buying Spree: Wall Street roared higher Monday in a stark contrast to losses seen last week as traders cheered progress on negotiating a budget deal in Washington and upbeat reports on the housing market.
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Oil Surges 3% on Mideast Tumult, Budget Hopes Oil prices zipped higher by 3% on Monday as tension in the Middle East heated up and traders grew more hopeful about the chances of lawmakers avoiding the fiscal cliff.
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FOX Business: Capitalism Lives Here Wall Street roared higher Monday in a stark contrast to losses seen last week as traders cheered progress on negotiating a budget deal in Washington and upbeat reports on the housing market. Today's Markets The Dow Jones Industrial Average surged 208 points, or 1.7%, to 12796, the S&P 500 rallied 27 points, or 2%, to 1387 and the Nasdaq Composite surged 62.9 points, or 2.2%, to 2916. It was the best day for the Dow and S&P 500 since September, and the best for the Nasdaq since July. Every S&P 500 sector ended in the green besides utilities. The best performers were technology, materials, energy, telecommunications, consumer discretionary and industrial stocks. Volatility plummeted 7.3% as tracked by the CBOE's VIX, frequently referred to as Wall Street's fear gauge. Traders also ditched safe-haven U.S. Treasury bonds, pushing the yield on the 10-year up 0.038percentage point to 1.611%. Fiscal Hopes Abound The markets took a beating last week, with the Dow tumbling 1.8% in its fourth-straight weekly retreat. Headlines concerning the looming U.S. fiscal cliff have been garnering much attention in recent weeks.
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On Friday, President Barack Obama met with lawmakers on both sides of the aisle. The conversations were constructive, according to statements by the White House and House of Representatives Speaker John Boehner, the leading Republican in Congress. Over the weekend, the president held calls with a wide range of business leaders, including J.P. Morgan Chase's (JPM ) Jamie Dimon and Apple's (AAPL) Tim Cook. "The late-day rally in the U.S. on Friday on hopes that Republicans and Democrats may reach a compromise ahead of the fiscal cliff has carried market sentiment," analysts at Nomura wrote in a note to clients. The fiscal cliff, which is a painful dose of automatic spending cuts and tax hikes that go into effect at the beginning of next year, represents a significant risk to the economy, according to many economists. However, a sharply divided Congress has put the passage of measures to avert the cliff in jeopardy. 'Encouraging' Housing Data On the economic front, existing home sales rose 2.1% in October from September to a 4.79-million unit annualized rate, coming in slightly ahead of estimates of a 4.75-million unit annualized rate, according to the National Association of Realtors. The median sale price for an existing home has lurched higher by 11.1% to $178,600 from the year before. "Altogether, the report is encouraging," Barclay's Michael Gapen wrote in a note to clients. "Our view is that housing is in a recovery phase, but one that will be restrained by the availability of credit, the pace of improvement in labor market conditions, and the overhang from distressed and foreclosed properties." The housing market that was pounded during the financial crisis has been showing fresh signs of life in recent months, although economists warn the rebound seen of late comes from very depressed levels. Commodities Rally; Mideast Tension Swells The conflict between Israel and Palestine continued heating up over the weekend, with both sides repeatedly striking each other. The growing specter of war in the Middle East has put upward pressure on energy markets that tend to be particularly vulnerable to geopolitical uncertainty. The benchmark oil contract traded in New York climbed $2.36, or 2.7%, to $89.28 a barrel. Wholesale New York Harbor gasoline rose 1.6% to $2.755 a gallon. Gold advanced by $19.70, or 1.2%, to $1,734 a troy ounce. In corporate news, Intel (INTC) President and Chief Executive Officer Paul Otellini will retire in May, the chipmaker said. Standard & Poor's upgraded Google's (GOOG) credit rating to 'AA' from 'AA-' giving shares a boost. Lowe's (LOW) posted better-than-expected results on the top and bottom lines. HSBC (HBC) said it was in discussions to sell its stake in Ping An Insurance, China's No. 2 life insurer. According to news reports, the deal could bring in $9.3 billion. Cisco (CSCO) unveiled plans to scoop up cloud networking startup Meraki for $1.2 billion in cash.
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Foreign Markets The Euro Stoxx 50 rallied 2.8% to 2495, the English FTSE 100 jumped 2.4% to 5738 and the German DAX zipped higher by 2.5% to 7124. In Asia, the Japanese Nikkei 225 advanced 1.4% to 9153 and the Chinese Hang Seng edged up by 0.49% to 21262.
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The Hindu : Business / Markets : Sensex gains 131 points ahead of Parliament session
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Sensex gains 131 points ahead of Parliament session

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A view of the BSE building in Mumbai. File photo
The Hindu
The BSE benchmark Sensex on Wednesday surged by 131 points on speculations that the government might push through economic reforms in the winter session of Parliament starting Thursday amid strong Asian cues. The 30-share index had slipped to 18,309.81 in early trade but buying in realty and FMCG stocks helped the barometer recover. The index closed higher by 131.06 points, or 0.72 per cent, at 18,460.38 points. The broad-based National Stock Exchange index Nifty rose by 43.25 points, or 0.78 per cent, to 5,614.80. Trading sentiment improved as Finance Minister P Chidambaram said the government unperturbed over Opposition plans to move motions over issues, including FDI in retail, in Parliament as it is confident of support from all allies. Retailers led by Pantaloon and Koutoon were in the limelight and recorded handsome gains on expectations the government will push through the decision of opening retailing to foreigners in a wave of policy making. Investors were picking recently hit stocks of realty, private sector lenders and IT as economic reforms pave more revenues from overseas markets. Sentiment further get a boost from firming Asian markets. The realty sector index gained the most by adding 2.47 per cent to 1,877.82 followed by FMCG sector by 1.41 per cent to 5,780.06. Consumer durable index rose by 1.40 per cent to 7,492.07 and banking index by 1.27 per cent to 13,156.39. Keywords: BSE, NSE, Sensex, Nifty, Parliament session, Winter session More In: Markets | Business Comments Recommended Post a comment
Printable v ersion | Nov 2 1 , 2 01 2 8:3 7 :1 3 PM | http://www.thehindu.com /business/m arkets/sensex-gains-1 3 1 -points-ahead-of-parliam ent-session/article4 1 1 9 4 7 3 .ece The Hindu
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11/21/12
Stocks close higher despite more Europe worries - Nov. 21, 2012
Stocks close higher despite more Europe worries

By Maureen Farrell @CNNMoneyInvest November 21, 2012: 4:23 PM ET
NEW YORK (CNNMoney) -- Stocks closed out a quiet pre-Thanksgiving trading day higher as investors focused on positive U.S. economic numbers instead of renewed questions over Greece's solvency. European finance ministers failed to finalize the details of a debt-reduction package for Greece before the close of their meeting Wednesday. Still, the Dow Jones industrial average , the S&P 500, and the Nasdaq closed up between 0.2% and 0.4%. Trading volume was light ahead of the Thanksgiving holiday on Thursday and a short trading day Friday. The inability of finance ministers to reach a deal over Greece has reignited worries about European sovereign debt, but European stocks closed higher Wednesday. Britain's FTSE 100 and the DAX in Germany edged up 0.1% and France's CAC 40 rose 0.4%. European finance ministers had been expected to agree to release the funds for Greece so it would be able to make its December payments. In the U.S., new jobless claims totaled 410,000 last week, impacted by storm conditions in the Northeast, but that was down from a week ago and lower than what economists had predicted. The University of Michigan's final version of its consumer sentiment index for November moved higher from a month ago but was worse than expected. In corporate news, Deere ( DE, Fortune 500) dipped 4% after the equipment maker released quarterly results. Shares of jewelry maker Zale ( ZLC) dropped nearly 30% after the company reported a steep quarterly loss. Publisher Scholastic ( SCHL) stock dropped nearly 18% after it lowered its forecasts for next year. Salesforce.com ( CRM)'s stock fared much better, closing up 9%, after the cloud computing company reported earnings that beat forecasts. YY ( YY ), the first Chinese IPO since April, jumped 8% in its debut on Nasdaq. HPQ, Fortune 500) shares after the company
U.S. stocks ended flat Tuesday, amid a sharp sell-off in Hewlett-Packard ( reported a massive loss. HP's shares rose 2% Wednesday.
World markets: Asian markets closed higher. The Shanghai Composite gained 1.1%, the Hang Seng in Hong Kong rose 1.4%, and Japan's Nikkei posted a 0.9% gain. Currencies and commodities: The dollar was higher against the euro and the Japanese yen, but slipped versus the British pound.
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11/21/12
Stocks close higher despite more Europe worries - Nov. 21, 2012
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Oil for January delivery rose 63 cents to $87.38 a barrel. Turmoil in the Middle East has contributed to oil price volatility in recent days, with ongoing violence between the Israeli military and the Hamas leadership of Gaza. Gold futures for December delivery rose $4.60 to $1,728.20 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury edged lower, pushing the yield up to 1.68% from 1.59% late Tuesday.
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Stocks end Black Friday up more than 1% - Nov. 23, 2012
Dow back above 13,000

By Maureen Farrell @CNNMoneyInvest November 23, 2012: 1:20 PM ET
Click chart for more market data.
NEW YORK (CNNMoney) -- U.S. stocks wrapped up Black Friday more than 1%, inking the fifth straight day of gains. The Dow Jones Industrial Average , the S&P 500, and the Nasdaq closed up between 1.3% and 1.4% on a postThanksgiving shortened trading day. All three indexes ended the week up more than 3%, racking up five straight days of gains. The Dow closed above 13,000 for the first time since Election Day. Investors were cheered by the sight of busy shopping malls on the kickoff to the holiday shopping season. Leading retailers Wal-Mart ( WMT, Fortune 500) and Target ( TGT, Fortune 500) opened at 8 p.m. on Thanksgiving night, and large crowds were reported at those stores and others. During a Friday morning interview with CNN, Toys "R" US CEO Jerry Storch said the long lines at stores were probably a sign that "people do feel a little more relaxed about the economy." Macy's CEO Terry Lundgren, also speaking on CNN, said he enjoyed watching the "stream of humanity" flow into his stores. Shares of Macy's Inc ( M, Fortune 500), Wal-Mart and Target were higher Friday, as were the stocks of other prominent retailers such Sears ( SHLD, Fortune 500) and Best Buy ( BBY , Fortune 500).
Related: Black Friday shoppers out in full force
Besides Black Friday retail sales, there was little else to move the markets Friday. But investors also stayed focused on Europe and the continued questions over Greece's finances. European finance ministers failed to finalize the details of a debt-reduction package for Greece before the close of their meeting Wednesday. The officials had been expected to agree to release the funds for Greece so it would be able to make payments due in December. U.S. markets were closed Thursday for Thanksgiving. Stocks finished higher Wednesday as investors focused on positive U.S. economic numbers.
Fear & Greed Index
European stocks and Asian markets both closed with gains. Companies: Shares of BlackBerry maker Research in Motion ( RIMM) moved up nearly 15% following a report by Canadian brokerage firm National Bank Financial that anticipates sales of the BlackBerry 10 smartphone , due to roll out early next year, will be better than expected.
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11/23/12
Stocks end Black Friday up more than 1% - Nov. 23, 2012
Hostess Brands received approval from a bankruptcy judge Wednesday to shut down and begin selling off its assets. Currencies and commodities: The dollar fell against the euro, British pound and Japanese yen. Oil for January delivery rose 77 cents to $88.15 a barrel. Gold futures for December delivery climbed $23.20 to $1,751.40 an ounce. Bonds: The price on the benchmark 10-year U.S. Treasury stayed put at 1.68%.
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11/23/12
Stocks soar on Black Friday; tech leads the way: Associated Press Business News - MSN Money
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Stocks soar on Black Friday; tech leads the way

November 23, 2012 1:38 PM ET
YOUR RECENT NEWS SEARCHES You don't have any recent news searches. Create a custom news search STOCKS MENTIONED IN THIS ARTICLE
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(AP) - The stock market enjoyed some Black Friday cheer, rising sharply as shoppers braved the annual post-Thanksgiving rush. Major stock indexes closed one of their best weeks of the year. Traders were encouraged by positive economic news from Germany and China, two engines of global growth. Technology stocks soared after a few weeks of selling. And early reports from retailers suggested strong consumer spending. "Foot traffic appears heavier than we've seen in recent years, there are a lot of positive statements out of the companies themselves, and momentum appears to be strong," said JJ Kinahan, chief derivatives strategist at the brokerage TD Ameritrade.
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Many stores opened earlier than ever this year, Kinahan said, allowing for earlier informal reports about their performance. Technology stocks soared, lifting the Nasdaq composite index by more than 1 percent. Dell, chipmaker AMD and Hewlett-Packard were the top three gainers in the Standard & Poor's 500. Technology rose the most among the index's 10 industry groups.
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The stocks were bouncing back after confidence in tech stocks declined broadly, Kinahan said. AMD dropped sharply in recent weeks as investors fretted about its solvency. HP plunged 12 percent on Tuesday after executives said that a company HP bought for $10 billion last year lied about its finances. The Nasdaq ended up 40.30 points, or 1.4 percent, at 2,966.85. The Dow Jones industrial average gained 172.79, or 1.4 percent, to 13,009.69 the first time since election day that the Dow closed above 13,000. The S&P 500 added 18.12, or 1.3 percent, to 1409.15. The rally gave the S&P 500 its biggest weekly point gain since last December 49 points, or 3.6 percent. The Dow gained 3.4 percent and the Nasdaq almost 4 percent for the week. The market closed early, at 1 p.m. EST. Stocks started strong after news that German business confidence rose unexpectedly in November after six straight declines. The gain in a closely watched index published by Munich's Ifo institute raised hopes that Europe's largest economy can continue to weather the continent's financial crisis. China's manufacturing expanded for the first time in 13 months in November, the latest sign that the world's second-biggest economy is recovering from its deepest slump since the 2008 global crisis. HSBC Corp. said its monthly Purchasing Managers' Index improved to 50.4 for November. Any number above 50 indicates expansion. The PMI measures overall manufacturing activity by surveying indicators including orders, employment and production. The result was released Thursday, when the U.S. market was closed for Thanksgiving. Around the U.S., shoppers flocked to malls and logged on to computers to take part in the annual cheer-fueled retail rush known as Black Friday. Target and Toys R Us welcomed buyers on Thanksgiving evening. Retailers are also trying to draw shoppers with free layaway and shipping, by matching prices of online rivals and by beefing up mobile shopping apps. Retail is a key driver of the nation's economy. Consumer spending accounts for about 70 percent of U.S. economic activity. November and December, which can account for as much as 40 percent of a retailer's annual revenue, are crucial for stores.
Morgan Stanley Municipal Premium Income Trust (PIA) Wal-Mart Stores Inc (WMT) Apple Inc (AAPL) Target Corp (TGT) Research In Motion Ltd (RIMM)
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The Friday after Thanksgiving is known as Black Friday because it begins the period in which many retailers turn profitable for the year. Traders will be looking for signs about how enthusiastically Americans are spending. That could reflect the momentum of the economic recovery. Wal-Mart rose $1.31, or 1.9 percent, to $70.20. Macy's gained 72 cents, or 1.8 percent, to $41.73. Trading volume on Wall Street was light, with many investors away for an extended weekend after Thanksgiving. The rally's strength will be tested on Monday, as many traders return to their desks and retailers begin to release hard data about their holiday sales results, Kinahan said. "It's great when something like this happens, but on a half-day without the major players in there, it's not so surprising," he said. European indexes added to earlier gains after Wall Street opened and closed higher. The FTSE 100 index of leading British shares rose 0.5 percent. Germany's DAX and France's CAC-40 both added 0.9 percent. Investors were monitoring developments in Brussels, where European Union leaders are trying to agree on a $1.25 trillion long-term spending plan for the 27-nation bloc. Markets expect that another meeting will be needed for an agreement. Among the stocks making big moves: MAP Pharmaceuticals spiked after the company announced that the Food and Drug Administration will review its experimental migraine drug Levadex. The stock rose $2.60, or 20.3 percent, to $15.42. KIT Digital Inc., a video software and technology company, lost two-thirds of its value after the company's former chief executive accused it of blaming prior management for its financial problems. Two days earlier, KIT said it would restate its financial results because of accounting errors. The stock lost $1.33, or 64.3 percent, to 74 cents. Among tech's big gainers: Research in Motion Ltd. jumped on growing optimism for an earlier-than-expected launch of its delayed BlackBerry 10 smartphone. A senior executive from the Canadian company said earlier this month that Research In Motion, or RIM, will release the latest version of its smartphone "not long after" a Jan. 30 event. One analyst saw that as an indication that the products are to be unveiled in February. U.S.-traded shares of RIM rose $1.40, or 13.7 percent, to $11.66. Dell rose 49 cents, or 5.4 percent, to $9.55. HP added 50 cents, or 4.2 percent, to $12.44. AMD rose 8 cents, or 4.3 percent, to $1.95. ___ Daniel Wagner can be reached at www.twitter.com/wagnerreports. Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. RECENT QUOTES WATCHLIST After you search for quotes in the Get Quote box at the top of the page, they will appear here. Sponsored by:
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11/23/12
Stocks soar on Black Friday; tech leads the way: Associated Press Business News - MSN Money
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Wall Street Roars Higher in Thanksgiving Week Rally | Fox Business


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FOX Business: Capitalism Lives Here The markets posted big gains this week as traders grew more optimistic about the chance of lawmakers averting the fiscal cliff. On Friday, traders also responded positively to upbeat Asian and European economic and political news. Today's Markets The Dow Jones Industrial Average climbed 173 points, or 1.4%, to 13010, the S&P 500 gained 18.1 points, or 1.3%, to 1409 and the Nasdaq Composite rose 40.3 points, or 1.4%, to 2967. For the week, the Dow jumped 3.3%, the S&P 500 rallied 3.6% and the Nasdaq soared 4%. The Dow ended above the psychologically important 13000 mark for the first time since November 6. Every major sector posted gains for the week besides utilities, which fell less than 1%. The biggest gainers could be found in the industrial, consumer discretionary, telecommunications, and materials sectors.
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Wall Street Roars Higher in Thanksgiving Week Rally | Fox Business
talks aimed at creating a rescue program for Cyprus. The country is the latest to struggle with debt issues that put it at risk of being locked out of private markets. Standard & Poor's also affirmed its rating on France at AA+ and said its outlook remains negative on the country. "The affirmation reflects our opinion that the French government remains committed to budgetary and structural reforms that would build on the measures it has proposed so far and improve the country's growth potential," the ratings company said in a statement. This comes after Moody's Investors Service sliced France's credit rating from Aaa to Aa1 on Monday, citing economic and political headwinds the country is facing. On the Asian front, a reading of HSBC's flash PMI gauge Wednesday night showed China's manufacturing sector revved up into expansion territory for the first time in 13 months. "This confirms that the economic recovery continues to gain momentum towards the year end," Hongbin Qu, the bank's chief economist for China said in a report. "However, it is still the early stage of recovery and global economic growth remains fragile." Energy futures were broadly in the green. The benchmark oil contract traded in New York jumped 94 cents, or 1.1%, to $88.33 a barrel. Wholesale New York Harbor gasoline rose 0.09% to $2.752 a gallon. Gold rallied $22.70, or 1.3%, to $1,751 a troy ounce. Foreign Markets The Euro Stoxx 50 gained 0.87% to 2557, the English FTSE 100 climbed 0.49% to 5819 and the German DAX gained 0.89% to 7309. In Asia, the Chinese Hang Seng jumped 0.79% to 21914. The markets in Japan were closed for a holiday.
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11/27/12
The Hindu : Business / Markets : Sensex surges by 305 points
Business Markets
Sensex surges by 305 points

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A file photo of the Bombay Stock Exchange building.
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The BSE benchmark Sensex on Tuesday surged by 305 points the biggest gain in over two months on across-theboard buying after Moodys said Indias rating outlook is stable. Stock brokers said investors were also optimistic that the government will be able to push through economic reforms. The Sensex soared by 305.07 points, or 1.65 per cent, to 18,842.08, its biggest rally after September 21. Reliance Industries shot up by 1.66 per cent to Rs 786.20 and software exporter Infosys by 2.17 per cent to Rs 2,469.15. Export-driven technology shares such as Infosys rose, tracking the recent weakness in the rupee and better trend in its major markets like the U.S. and Europe. In 30-BSE index components, 28 stocks were in positive zone led by realty, consumer durables, FMCG and banking sectors. On similar lines, the broad-based National Stock Exchange index Nifty shot up by 91.55 points, or 1.62 per cent to 5,727.45. Buying activity picked up as speculators indulged in covering their short positions created in recent past before the monthly settlement in the derivatives segment on Thursday. The market will be closed on Wednesday for Gurunanak Jayanti. Moodys said India rating outlook is stable because of the countrys strong economic growth along with high savings and investment rates. Indias Baa3 rating and stable outlook are supported by credit strengths which include a large, diverse economy, strong GDP growth and savings, and investment rates that exceed emerging market averages, the global rating agency said in its Credit Analysis on India report. Brokers said trading sentiment improved on reports that the ruling UPA government may be able to win the voting test on economic reforms, including foreign direct investment in retail sector, in Parliament. Keywords: sensex, Bombay Stock Exchange More In: Markets | Business
www.thehindu.com/business/markets/sensex-surges-by-305-points/article4140267.ece?css=print 1/2
11/28/12
Stocks end higher as fiscal cliff talks continue - Nov. 28, 2012
Dow gains more than 100 points

By Ben Rooney @CNNMoneyInvest November 28, 2012: 4:23 PM ET
NEW YORK (CNNMoney) -- U.S. stocks ended on a high note Wednesday as investors welcomed comments from President Obama and House Speaker John Boehner on the fiscal cliff negotiations. The Dow Jones industrial average gained 107 points, or 0.8%. The index was supported by shares of HP ( HPQ, Fortune 500), which gained nearly 3%. American Express Co ( AXP, Fortune 500) and Chevron ( CVX, Fortune 500) were also strong performers, adding about 2%. The S&P 500 and the Nasdaq both gained 0.8%. Trading has been choppy recently as investors react to political developments in Washington, where lawmakers and the White House have been at loggerheads over a slew of year-end tax increases and spending cuts known as the fiscal cliff. President Obama renewed his call for Congress to pass a bill he says would provide a tax break for middle-class Americans, saying he's "confident" an agreement to avert the crisis will be reached before Christmas. Speaking to reporters earlier in the day, Boehner said he's "optimistic" that a compromise will be reached "sooner rather than later." But he added that it's time for Obama and the Democrats "to get serious about the spending problem that our country has." Senate Majority Leader Harry Reid rattled investors late Tuesday when he reported little progress in the talks. The fear is that failing to resolve the fiscal cliff before the Jan. 1 deadline could shock the economy and send it back into recession. Investors have been paralyzed by this uncertainty and many expect the stocks to remain volatile for the rest of the year. "The fiscal cliff malaise is blanketing the market," said Jack Ablin, chief investment officer at BMO Private Bank. On Wednesday afternoon, a group of CEOs from top U.S. companies will meet with President Obama as part of the "Campaign to Fix the Debt."
Related: World's 5 hottest stock markets
On the economic front, the government said October new home sales fell 0.3% from the month before, although sales were up 17.2% versus October of last year. The Federal Reserve said economic activity across the central bank's 12 districts expanded at a "measured pace" in recent weeks, according to the latest edition of its Beige Book. The report also said contacts in several Fed districts are concerned
11/28/12
Stocks end higher as fiscal cliff talks continue - Nov. 28, 2012
about the fiscal cliff. A report in the Wall Street Journal fueled speculation that the Fed could extend its bond-buying program next year to help support the economy. Meanwhile, gold prices fell sharply as the U.S. dollar strengthened against the euro and the British pound. Oil prices were also pressured by the stronger greenback. In the bond market, yields on U.S. Treasuries moved higher as prices declined.
Fear & Greed Index
In corporate news, big box retailer Costco ( COST, Fortune 500) announced a special dividend, which will pay shareholders a total of $3 billion on Dec. 18. Shares rose 6%. Costco becomes the latest company to move dividend payments to calendar year 2012 as taxes on payments to shareholders are set to rise on Jan. 1, due to the fiscal cliff. Costco rival Wal-Mart ( WMT, Fortune 500) is also speeding up those payments. Shares of Knight Capital ( owner Getco. KCG) surged 15% after the troubled broker-dealer received a buyout offer from rival and partial
The Fresh Market ( TFM)stock plunged to a six-month low after the specialty grocer missed earnings expectations and announced that its CFO will step down next month. American Eagle ( open. AEO) shares were up 7% after the apparel retailer reported strong quarterly results before the market ARO) said it earned 31 cents per share in the third quarter, topping analysts'
After the market closed, rival Aeropostale ( expectations for 29 cents. Shares of troubled retailer JC Penney (
JCP, Fortune 500), which have been heavily shorted, rose 4.5%.
Shares of Green Mountain Coffee Roasters ( GMCR) jumped 26% after the K-cup maker issued a better-than-expecte d outlook for the upcoming fiscal year late Tuesday. European markets closed higher, while Asian markets ended lower on Wednesday. The European Commission approved the restructuring plans of four Spanish banks, clearing the way for longanticipated bailout of those institutions.
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FOX Business: Capitalism Lives Here The Dow rallied Wednesday, reversing a 110-point slide, as traders grew more optimistic about the prospects of a budget deal in Washington and responded to a report saying the Federal Reserve may extend its bondbuying operations. Today's Markets The Dow Jones Industrial Average climbed 107 points, or 0.83%, to 12985, the S&P 500 gained 11 points, or 0.79%, to 1410 and the Nasdaq Composite rose 24 points, or 0.81%, to 2992.
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Every S&P 500 sector ended the day in the green. The best-performing sector was consumer discretionary, followed by energy and industrials. Meanwhile, utilities, materials and telecommunications shares performed the worst. All Eyes on Washington When Wall Street focuses on Washington, volatility often ensues. Such has been the case over the past several weeks. Markets got a boost last week on apparent progress in talks to avert the fiscal cliff -- spending cuts and tax hikes due at the the beginning of next year. This week, they have fluctuated amid mixed messages from Capitol Hill. Tuesday, top lawmakers in the Senate on both sides of the aisle pointed to limited progress and resorted to criticizing the other party. However, the markets turned around Wednesday after Speaker of the
www.foxbusiness.com/markets/2012/11/28/stocks-lurch-higher-in-powerful-comeback/
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House of Representatives John Boehner said he is "optimistic that we can continue to work together to avert this crisis and sooner rather than later." Boehner has been a key player in previous debt talks, and is likely to have to steer the Republican-controlled House toward any deal. Market participants also cited a report by the Wall Street Journal that the Federal Reserve plans on continuing its purchases of mortgage-backed securities and Treasury bonds next year as reason for the upward momentum. Economists and political analysts broadly expect a deal to get done because the economic consequences would be so severe. However, the uncertainty over the shape and timing of a deal has in the past roiled financial markets, led ratings companies to threaten America's credit rating and weighed on consumer confidence. "With just over four weeks to go, the mixed signals out of Washington yesterday are further reminders that talk alone (happy or otherwise) is insufficient in dealing with the fiscal cliff," analysts at Nomura wrote in a note to clients. On the economic front, the Commerce Department said sales of new single-family homes fell 0.3% in October from September to a 368,000unit annualized rate. Economists were expecting a rate of 390,000. Septembers reading was also sharply revised lower by 20,000 to 369,000. The closely-followed S&P/Case-Shiller report released Tuesday showed home prices in 20 major metropolitan markets having increased in September. In general, data have pointed to continued recovery for the embattled housing market. However, economists are quick to point out that the rebound has come from very depressed levels. The Federal Reserve also said its anecdotal Beige Book that the U.S. economy expanded at a measured pace in recent weeks. The report said most districts experienced modest improvements in hiring activity, while consumer spending grew at a moderate pace and manufacturing weakened. Some districts also reported weakness as a result of Hurricane Sandy, the central bank said. Oil futures slumped for the third day in a row. The benchmark crude contract slipped 69 cents, or 0.79%, to $86.49 a barrel. Wholesale New York Harbor gasoline rose 0.07% to $2.734 a gallon. In metals, gold fell $26.00, or 1.5%, to $1,719 a troy ounce. Foreign Markets The Euro Stoxx 50 gained 0.13% to 2547, the English FTSE 100 climbed 0.06% to 5803 and the German DAX rose 0.15% to 7343. In Asia, the Japanese Nikkei 225 sold off by 1.2% to 9308 and the Chinese Hang Seng dropped 0.62% to 21709.
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Apartm ent Rentals a 'landlord's Market' In 2013 Stocks Flat as Greece, Cyber Shopping Vie for Attention
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11/29/12
The Hindu : Business News : Markets surge on positive signs
Business
Markets surge on positive signs

Oommen A. Ninan
Sensex zooms to 19-month high, breaches the 19000-mark
Stocks of the bluest of the blue chips surged on Thursday on resurgence of reform hopes and restoration of faith on Indias growth story by international rating agency Moodys and investment banker Goldman Sachs The benchmark the Bombay Stock Exchange (BSE) 30-share sensitive index (Sensex) shot up by 328.83 points or 1.75 per cent to close at 19170.91, a 19-month high. A broader National Stock Exchanges (NSE) 50-share Nifty closed at 5825, a rise of 97.55 points or 1.70 per cent. A belief that reforms such as foreign funds entry into the multi-brand retail segment would pass through by a vote in Parliament gives hopes to investors that key reforms would be implemented by the government at the earliest. While Moodys kept the countrys rating outlook at stable, another global investment banker Goldman Sachs, on Thursday, upgraded Indian equities to overweight from market-weight. Going forward, the investment banker believes that both recovery in growth and moderation in inflation would be possible, and cited as reasons for its upgradation. It has also predicted a target of 6600 level for the Nifty by December 2013. Indian markets have recovered because of better risk-taking environment, said Jignesh Shah, Executive Director, Sarasin-Alpen (India) Private Limited. Besides the declining risk aversion, the factors which have contributed to the market movement in the last couple of weeks, have been easy global liquidity and better possibility of rate cuts in India in the near-term. Simultaneously, rupee has strengthened, he added. Nifty closed at an all new high as expected as it has crossed the resistance of 5770. The main driver of the market was heavily short which led to stunning rally, said Kishor P. Ostwal, CMD, CNI Research Ltd. The moot question is whether this rally is sustainable? There are enough challenges in the near-term which include fiscal cliff in the U.S., debt problems in the eurozone and slowdown in India. Accordingly, said Mr. Shah, We have neutral stance on equity in India. Further, the market is awaiting the September-quarter gross domestic product data due on Friday.
www.thehindu.com/business/markets-surge-on-positive-signs/article4147384.ece?css=print 1/2
11/29/12
The Hindu : Business News : Markets surge on positive signs
Inflation problem
In India, part of inflation problem is going to continue as its more structural in nature, and it is also because of infrastructure bottlenecks and supply constraints because of that. But, as mentioned by the Reserve Bank of India (RBI) in the last monetary policy review, inflation should start coming off in the first quarter of calendar year 2013. That should give some flexibility to the regulator to reduce the key policy rates and also comfort to the corporate world, in terms of lower borrowing cost, Mr. Shah added. With enhanced integration of Indian markets to the global markets since 1992, global markets have been significant influencer to the Indian markets, in the near-term. However, over the longer term, Indian markets have been growing based on its fundamentals which are very strong. Said Mr. Shah Longer term growth story is positive.
Rupee shoots up
PTI reports: Tracking a steep rise in domestic stocks, the rupee on Thursday sharply appreciated by 61 paise, its biggest gain in two months, to end at 54.84 helped by capital inflows worth nearly $300 million and sustained dollar sales by exporters. Weak dollar overseas and rising hopes of government being able to push through reforms helped rupee rise, said dealers. Keywords: Stock market, BSE, Sensex, Inflation issue, Rupee value More In: Business | Markets Comments Recommended Post a comment
Printable v ersion | Nov 3 0, 2 01 2 9 :06 :01 AM | http://www.thehindu.com /business/m arkets-surge-on-positiv e-signs/article4 1 4 7 3 84 .ece The Hindu
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Stocks Climb as Traders Cautiously Eye Budget Talks | Fox Business


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Stocks Climb as Traders Cautiously Eye Budget Talks

By Adam Samson, Matt Egan Pub lished Novemb er 29, 2012 FOXBusiness
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FOX Business: Capitalism Lives Here Wall Street pushed higher Thursday after a bumpy session as traders remained fixated on U.S. budget talks and mulled several important economic reports. Today's Markets The Dow Jones Industrial Average gained 36.7 points, or 0.28%, to 13022, the S&P 500 advanced 6 points, or 0.43%, to 1416 and Nasdaq Composite advanced 20.3 points, or 0.68%, to 3012. The FOX 50 picked up 4.3 points, or 0.41%, to 1048.
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The blue chips dipped into the red in late morning trading after pessimistic comments from House Speaker John Boehner, wiping out a rally of as much as 85 points earlier in the session. The knee-jerk reaction to comments from Boehner, who had just left a meeting with Treasury Secretary Tim Geithner, underscore the serious jitters on Wall Street about the ability of Washington to avoid sending the U.S. over the fiscal cliff. Just a day earlier upbeat fiscal cliff comments from Boehner helped wipe out a triple-digit slide on the Dow, carrying the blue chips to a 107-point gain on the day. The drift in the stock market is completely dependent on investor
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perceptions of a constructive outcome for the fiscal cliff talks. Company specific news and macroeconomic data points have been virtually irrelevant, Peter Kenny, a managing director at Knight Capital Group (KCG), wrote in a note. Trading desks across the globe have been fixated on budget talks in Washington, D.C. Lawmakers have been working on a deal to avoid the so-called fiscal cliff -- a painful mixture of spending cuts and tax hikes set to go into effect next year. Yet Boehner warned on Thursday that there have been no substantive progress in the negotiations in the last two weeks. The House speaker said he has no idea what compromises the White House is willing to make on spending cuts and said he is only willing to accept an increase in revenue in tandem with serious spending cuts. "I'm going to do everything I can to avoid putting the American people" and the U.S. economy through the "fiasco" of going over the fiscal cliff, Boehner said. Other lawmakers were far more optimistic. Democratic Sen. Charles Schumer said he is confident a deal can be reached by Christmas and said progress is being made behind the scenes. The comments come after a report earlier that President Obama and Boehner had a "curt" telephone conversation about the cliff on Wednesday. The House Speaker wants Obama to move off of his position on tax rates, but the president won't move and instead suggested Boehner lay out an alternative. The market is electing to believe in the prospects of a deal. I certainly hope that Washington does not disappoint, said Kenny. Earlier in the day traders' attention was briefly diverted from the fiscal cliff thanks to a slew of new reports on the state of the U.S. economy. Stocks briefly turned sharply higher, with the blue chips up about 80 points, after the National Association of Realtors said contracts to buy previously-owned U.S. homes rose by 5.2% in October from September. The data provide further evidence of the housing recovery as the markets had been anticipating a much more modest increase of just 0.8%. On the jobs front, the Labor Department said initial claims for unemployment benefits declined by 23,000 to 393,000 last week. Economists had forecasted a drop to 395,000 in this recently-volatile measure that has been influenced by Hurricane Sandy. As has been the case, the government raised its estimate for the prior week to 416,000 from 410,000. The four-week moving average of claims, which can be a better measure given the recent volatility, rose by 7,500 to 405,250 -- the highest level since October 2011. Claims for continuing benefits tumbled by 70,000 to 3.287 million. Separately, the Commerce Department said U.S. gross domestic product grew by 2.7% in the third quarter, up from its advance estimate of just 2.0% but just under consensus calls for 2.8%. On the corporate front, shares of retailers were under pressure after a
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number of companies reported underwhelming November same-store sales, including Target (TGT ), Macys (M ) and Gap (GPS). Overall, Thomson Reuters estimates preliminary November same-store sales gained just 1.6%, well below forecasts from analysts for an increase of 3.3%. In commodities markets, oil futures rallied after falling for the third day in a row on Wednesday. The benchmark contract traded in New York gained $1.58, or 1.83%, to $88.07 a barrel. In metals, gold advanced $10.70, or 0.62%, to $1,727.20 a troy ounce. Foreign Markets The Euro Stoxx 50 rallied 1.37% to 2581.69, the U.K.'s FTSE 100 gained 1.15% to 5870.30 and the German DAX rose 0.78% to 7400.96. In Asia, the Japanese Nikkei 225 lurched higher by 1% to 9401 and the Chinese Hang Seng jumped 1% to 21923.
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The Hindu : Business / Markets : Sensex extends gains ahead of GDP data
Business Markets
Sensex extends gains ahead of GDP data

PTI
The BSE benchmark Sensex rose for the fourth straight day on Friday on sustained buying by funds. File photo
The Hindu
The BSE benchmark Sensex rose for the fourth straight day by surging nearly 142 points in early trade on Friday on sustained buying by funds ahead of second quarter GDP data amid a firm trend in Asian regions. The 30-share barometer, which had gained over 665 points in the three previous sessions, surged further by 141.86 points, or 0.74 per cent, to 19.312.77, with all sectoral indices led by banking and realty sectors stocks trading in positive zone with a gain up 0.91 per cent. Similarly, the wide-based National Stock Exchange index Nifty traded higher by 35.75 points, or 0.61 per cent, to 5860.75. Brokers said sustained buying by funds and retail investors amid a firm trend in the Asian region following overnight gains at the US market, mainly influenced the trading sentiment. They said Goldman Sach upgrading equities also boosted the sentiment. Meanwhile, in the Asian region, Hong Kongs Hang Seng rose by 0.17 per cent, while the Japans Nikkei by 0.88 per cent in early trade on Friday. The U.S. Dow Jones Industrial Average ended 0.28 per cent higher in Thursdays trade. Keywords: Sensex, BSE, Nifty, NSE, Indian stock markets, opening trade
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Printable v ersion | Nov 3 0, 2 01 2 9 :3 7 :55 PM | http://www.thehindu.com /business/m arkets/sensex-extends-gains-ahead-of-gdp-data/article4 1 4 9 880.ece The Hindu
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11/30/12
The Hindu : Business / Markets : Sensex ends 169 points higher
Business Markets
Sensex ends 169 points higher

PTI
Rising for the fourth straight day, the BSE benchmark Sensex on Friday gained around 169 points as the tepid second quarter GDP growth number fuelled hopes of RBI cutting interest rates sooner than expected. The Sensex, which had regained 19,000 mark level by surging 665 points in last three sessions, spurted further by 168.99 points, or 0.88 per cent to 19,339.90, a level last seen in April, last year. Brokers said the market remained in cheerful mode despite July-September quarter GDP coming at 5.3 per cent yearon-year as investors bought shares in metal, power, PSUs, banks and consumer durables stocks on hopes of a rate cut in its policy review on December 18 to boost economic expansion. Financial stocks were in limelight as State Bank of India surged by 1.78 per cent, ICICI Bank by 1.56 per cent, HDFC Bank by 0.70 per cent and HDFC Ltd by 2.49 per cent. In the metal sector, Sterlite Industries surged 3.24 per cent, extending gains in this weeks rally to 13 per cent, while aluminium maker Hindalco Industries advanced by 2.65 per cent. Tata Steel also spurted by 2.24 per cent. Another tepid GDP report underlines the marked deterioration in Indias macro-fundamentals in recent years...RBI... may cut interest rates as early as its January policy review. Given tight liquidity, an earlier CRR cut at its December policy review looks likely too, said Richard Iley, Chief Asia Economist, BNP Paribas. Analysts said the Sensex gained nearly 4.4 per cent this month on heavy inflow of foreign funds on hopes that the government will push through economic reforms. The 50-share National Stock Exchange index Nifty rose by 54,85 points, or 0.94 per cent to 5,879.85. The undertone of the market remained bullish after Moodys and Goldman Sachs came out positive reports recently. A firming trend in the global markets after data showed the US economy grew more than first expected in the third quarter amid hopes of a deal on averting the fiscal cliff, also supported the uptrend to some extent. Keywords: Sensex, stock market, BSE, NSE, GDP growth
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Printable v ersion | Nov 3 0, 2 01 2 9 :3 3 :2 0 PM | http://www.thehindu.com /business/m arkets/sensex-ends-1 6 9 -points-higher/article4 1 506 04 .ece The Hindu
www.thehindu.com/business/markets/sensex-ends-169-points-higher/article4150604.ece?css=print
1/1
12/4/12
The Hindu : Business / Markets : Sensex rises 43 points; Tata Power, RIL and SBI lead gainers
Business Markets
Published: December 4, 2012 16:40 IST | Updated: December 4, 2012 16:40 IST
Sensex rises 43 points; Tata Power, RIL and SBI lead gainers
PTI
The Bombay Stock Exchange in Mumbai. File photo.
PTI
The BSE benchmark Sensex on Tuesday closed 43 points higher on the back of buying in Tata Power, RIL and SBI amid a firming European trend. The Sensex, which moved between 19,373.94 and 19,263.71, closed higher by 42.80 points, or 0.22 per cent to 19,348.12. The broad-based National Stock Exchange index Nifty edged up by 18.30 points, or 0.31 per cent to 5,889.25. Brokers said investors bought RIL shares on media reports that the oil ministry may approve its investment plans for the KG-D6 block while bank shares like SBI and ICICI Bank gained on hopes of rate cut by RBI soon. Tata Power rose 4 per cent. In the 30-share Sensex, 11 stocks gained while 19 including TCS, M&M and ITC ended in negative zone. Market participants mostly remained on the sidelines ahead of the discussion on FDI in retail. The BSE Oil and Gas sector index gained the most followed by the realty sector. The banking sector today saw revival from lower levels and was up by 0.75 per cent per cent. Consumer Durables was down by 0.72 per cent due to profit-booking. IT and Auto were also marginally in negative, said Nidhi Sarswat, Senior Research Analyst, Bonanza Portfolio Ltd on Tuesday. The positive domestic sentiment was aided by the firming trend in European region, said traders. Keywords: Sensex, Stocks quote, Nifty, closing trade
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Printable v ersion | Dec 4 , 2 01 2 7 :02 :1 8 PM | http://www.thehindu.com /business/m arkets/sensex-rises-4 3 -points-tata-power-ril-and-sbi-lead-gainers/article4 1 6 3 82 9 .ece The Hindu
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12/5/12
Bulls & Bears Tussle: Blue Chips Climb, But Nasdaq Sinks | Fox Business

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Bulls & Bears Tussle: Blue Chips Climb, But Nasdaq Sinks
By Adam Samson Pub lished Decemb er 05, 2012 FOXBusiness
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FOX Business: Capitalism Lives Here The Dow rallied on the back of a strong performance by heavyweights like insurer Travelers and industrial behemoth Caterpillar. However, the Nasdaq took a fall as shares of technology juggernaut Apple tumbled by the widest margin in four years. Today's Markets The Dow Jones Industrial Average rallied 82.7 points, or 0.64%, to 13034, the S&P 500 gained 2.2 points, or 0.16%, to 1409 and the Nasdaq Composite dropped 23 points, or 0.77%, to 2974. The FOX 50 dipped 0.4 point to 1039. The utility, financial and industrial sectors all posted solid gains on the day. However, on the other side of this spectrum, technology and materials shares slipped. Apple (AAPL) shares fell more than 6%, making it the worst performer of the Nasdaq 100. Traders blamed the move on a confluence of factors, including disappointment that the company appears to not be planning a special dividend before the end of the year and media reports that margin requirements are being raised by certain firms (potentially causing margin calls). The company is America's largest by market capitalization and has an outsize pull on the broader markets. Mixed Data
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The ADP National Employment report showed the private sector added 118,000 jobs in November, missing expectations of 125,000 jobs created. Digging into the report, large businesses led the hiring with 66,000 jobs, followed by medium businesses at 33,000 jobs at small businesses at 19,000. Mark Zandi, chief economist of Moody's Analytics, which collaborates on the report, said in a conference call "several crosscurrents" impacted the reading. In particular, he reckons Hurricane Sandy cut 86,000 jobs for the overall reading. He said manufacturing and small businesses were impacted especially severely by the superstorm. Also, the early timing of Thanksgiving added between 60,000 and 70,000 jobs that Zandi expects will come out of the December numbers. This report comes out ahead of the all-important monthly jobs report from the Labor Department. Overall, economists expect the economy to have tacked on 93,000 jobs in November, with the unemployment rate holding steady at 7.9%. The Institute for Supply Management's non-manufacturing PMI increased to 54.7 in November from 54.2 in October, compared to expectations of a drop to 53.5. That indicates the services sector expanded at a slightly faster pace that month. A separate report from the Commerce Department showed factory orders climbing 0.8% in October from September, better than forecasts of no change. On the corporate front, Citigroup (C) said it will slash 11,000 jobs and take a $1 billion fourth-quarter charge as part of a 'repositioning.' This comes at the banking giant looks to lean out its operations amid a new financial landscape. Freeport-McMoRan Copper & Gold (FCX) announced it will acquire Plains Exploration & Production Company (PXP) and McMoRan Exploration Co. (MMR) in a $20 billion deal. The deal will create a behemoth in the energy and materials industries. Trading desks already had a busy day, with several reports being released in Europe. The eurozone services sector contracted at a slightly slower pace in November. Germany, the 17-member currency bloc's economic powerhouse, saw its contraction slow to near break-even territory, while France's contraction picked up steam. A separate report showed eurozone retail sales sinking 1.2% in October from the month before. "European data continue to signal sluggish economic activity," analysts at Barclays wrote in a note to clients. Elsewhere, commodities markets were little changed. The benchmark crude oil contract edged lower by 37 cents, or 0.4%, to $88.16 a barrel. Wholesale New York Harbor gasoline dipped 0.46% to $2.677 a gallon. In metals, gold dipped $5.20, or 0.32%, to $1,691 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.05% to 2592, the English FTSE 100 gained 0.39% to 5892 and the German DAX ticked up by 0.26% to 7455. In Asia, the Japanese Nikkei 225 climbed 0.39% to 9569 and the Chinese Hang Seng surged 2.2% to 22271.
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The Hindu : Business / Markets : BSP support to FDI lifts Sensex; closes 95 points up
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BSP support to FDI lifts Sensex; closes 95 points up

PTI
Brokers said the buying activity gathered momentum after BSP decided to support FDI in retail in the Rajya Sabha. File Photo: PTI
In volatile trade, the BSE benchmark Sensex on Thursday wiped out early losses to close with a 95-point gain on late buying amid BSP throwing its weight behind the UPA government on FDI issue in Rajya Sabha. After dipping to 19,186.24 intraday on profit-booking, the Sensex rebounded to end higher by 94.94 points, or 0.49 per cent to 19,486.80 on good buying support in Tata Motors, Sterlite, Bajaj Auto, Reliance Industries and HDFC. The gauge has gained 182 points in three days now. However, IT, Tech and Healthcare stocks did not fare well on Thursday. Wipro, TCS and Infosys fell in 1.2-2.4 per cent range on growth outlook worries, triggered by a Cognizant US filing. The broad-based National Stock Exchange index climbed 30.40 points, or 0.52 per cent, to 5,930.90 led by stocks of realty, power and banking sectors. It had fallen to 5,838.90 at the outset on heavy profit-booking. Brokers said the buying activity gathered momentum after BSP decided to support FDI in retail in the Rajya Sabha. We have decided to vote in favour of government on FDI in multi-brand retail issue tomorrow, BSP chief Mayawati, whose party has 15 members in the Rajya Sabha, said participating in the debate. The party had yesterday staged a walkout in the Lok Sabha, helping bail out the government in the vote. A firming global trend amid optimism US lawmakers will agree on a budget, and before the European Central Bank unveils 2014 forecasts, remained supporting factors for the domestic market, they added. After the government secured victory in the vote on FDI issue in Lok Sabha, the retail sector stocks remained in demand and picked up sharply. Provogue India gained 6.68 per cent to Rs. 18.40, Koutons Retails by 4.94 per cent to Rs. 9.98 and Pantaloon Retails by 0.55 per cent to Rs. 239.15. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade thehindu.com/business/markets/bsp-support-to-fdi-lifts-sensex-closes-95-points-up/article4170949.ec
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FOX Business: Capitalism Lives Here The Dow climbed on the week, helped Friday by stronger-than-expected jobs data. However, tumbling Apple shares knocked the Nasdaq lower by more than 1% for the week. Today's Markets The Dow Jones Industrial Average climbed 81.1 points, or 0.62%, to 13155, the S&P 500 gained 4.1 point, or 0.29%, to 1418 and the Nasdaq Composite slumped 11.2 points, or 0.38%, to 2978. For the week, the Dow jumped 1%, the S&P 500 tilted higher by 0.13% and the Nasdaq slumped 1.1%. It was a grim week for Apple (AAPL) shares. The world's biggest publicly traded company plunged 8.9%. Data Paint Muddled Picture
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The Labor Department said nonfarm payrolls rose by 146,000 in D.R. Horton Accelerates Dividends Ahead of Cliff November from October, significantly more than the 93,000 expected. The unemployment rate fell to 7.7% from 7.9% the month prior to its lowest level since December 2008. Economists were expecting the RECENT QUOTES unemployment rate to remain at 7.9%. The Labor Department said +0.16% 1,046.38 Hurricane Sandy "did not substantively impact the national employment FOX50 Today 4:04 PM FOX 50 INDEX and unemployment estimates for November." Many economists expected
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the superstorm to have a negative impact. "The good news is not that the labor market is improving rapidly it isn't but that employment growth is holding up despite all the fears over the fiscal cliff," Nigel Gault, chief U.S. economist at IHS Global Insight wrote in a research note. Digging into the report, the private sector added 147,000 jobs, while the government shed 1,000. Average hourly earnings climbed four cents to $23.63. Still, many economists don't expect the recently upbeat data to impact the Federal Reserve's highly-aggressive monetary policy stance. "While the data ... suggest that the labour market continues to recover, and bodes well for economic growth in the final quarter of the year, the gains are unlikely to persuade the Fed from changing its stimulus stance," Markit Chief Economist Chris Williamson wrote in an e-mail. Consumer sentiment fell much more than expected in early December from November. The Reuters/University of Michigan gauge slid to 74.5 from 82.7, far lower than the 82.4 that was expected. These data are especially important given the key holiday shopping season is kicking into high gear. Later, the Federal Reserve releases its reading on consumer credit conditions. In Europe, Germany's Bundesbank said it expects Germany's economy to grow at a pace of just 0.4% next year, down sharply from a June forecast of 1.6%. The country is Europe's economic powerhouse, but has been showing increasing vulnerability to the eurozone debt crisis. The news comes only a day after the European Central Bank cut its economic forecast for the entire currency bloc. Commodities markets were fairly stable. The benchmark crude contract dipped 33 cents, or 0.38%, to $85.93 a barrel. Wholesale New York Harbor gasoline rose 0.02% to $2.597 a gallon. In metals, gold gained $3.70, or 0.22%, to $1,706 a troy ounce. On the corporate front, Netflix (NFLX) and its chief executive Reed Hastings received "Wells Notices" from the Securities and Exchange Commission on fair disclosure questions, a filing released late Thursday revealed. Foreign Markets The Euro Stoxx 50 dipped 0.08% to 2601, the English FTSE 100 climbed 0.22% to 5914 and the German DAX slumped 0.22% to 7518. In Asia, the Japanese Nikkei 225 fell 0.19% to 9527 and the Chinese Hang Seng edged lower by 0.26% to 22191.
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Wall Street Posts Solid Gains, But Budget Worries Linger

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FOX Business: Capitalism Lives Here Stocks climbed on Tuesday, led by rallying technology, health-care and telecommunications shares. However, the broad markets pulled back from session highs amid uncertainty over U.S. budget talks. Today's Markets The Dow Jones Industrial Average climbed 78.56 points, or 0.6%, to 13248, the S&P 500 gained 9.29 points, or 0.65%, to 1427.84 and the Nasdaq Composite rallied 35.34 points, or 1.18%, to 3022.30. The FOX 50 tacked on 8.67 points, or 0.83%, to 1053.36.
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Every major sector closed in the green on the day, with the blue chips landing at their highest level since November 6 and the Nasdaq hitting territory unseen in nearly two months. The strong performance on Wall Street echoed gains across many European exchanges. A closely-watched survey from the ZEW Institute in Germany helped whet traders' buying appetites. The gauge of investor confidence surged 22.6 points in December to 6.9 -- the first positive reading since May. "The indicators rise shows that the financial market experts expect the economic activity to stabilize until early summer 2013," ZEW said in the report. There were also several reports on the U.S. economy.
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Wall Street Posts Solid Gains, But Budget Worries Linger | Fox Business
The U.S. trade deficit rose to $42.2 billion in October from a downwardlyrevised $40.3 billion in September as exports hit the lowest level since February and imports hit the lowest level since April 2011. Economists were expecting the deficit to rise to $42.6 billion. The data on trade figure directly into broader measures of economic growth. The bigger the deficit, the more it pulls from gross domestic product. Another report from the Commerce Department showed wholesale inventories jumping 0.6% in October, a bigger gain than the 0.4% economists expected. Inventory accumulation is generally seen as a sign that companies are expecting to see stronger demand for products. The Federal Reserve also kicks off its two-day policy setting meeting on the day. Traders will be paying close attention to what the central bank plans to do when Operation Twist ends and any change to the so-called forward guidance on interest rates. On Wednesday, the central bank releases its policy statement and forecasts. Fed Chairman Ben Bernanke is also set to hold a news conference. Traders have largely been able to shake off jitters about renewed political uncertainty in Italy sparked by Prime Minister Mario Monti's unexpected resignation plans. Perhaps in a sign of the fortitude, Spain's Treasury sold $5 billion in short-term debt in a strong auction Tuesday. Indeed, yields fell as compared to a November auction. Still, the borrowing costs on longerterm debt in the secondary market for both countries has continued climbing this week. The budget fight in Washington, D.C. also remained in focus. The Wall Street Journal reported early Tuesday that progress was made in talks between President Barack Obama and Speaker of the House of Representatives John Boehner. However, mixed messages from Boehner and Senate Majority Leader Harry Reid took out some of that momentum. In corporate news, HSBC (HBC) said it will pay a record $1.9 billion to settle U.S. charges of "inadequate compliance with anti-money laundering and sanctions laws." The U.S. government sold the remainder of its common stock stake in American International Group (AIG). In total, the sale has yielded a profit of $22.7 billion. Energy futures climbed modestly. The benchmark crude contract climbed 27 cents, or 0.27%, to $85.79 a barrel. Wholesale New York Harbor gasoline gained 0.48% to $2.611 a gallon. In metals, gold edged lower by $4.80, or 0.28%, to $1,710 a troy ounce. Foreign Markets The Euro Stoxx 50 jumped 1.1% to 2624, the English FTSE 100 gained 0.06% to 5925 and the German DAX rose 0.78% to 7590. In Asia, the Japanese Nikkei 225 slipped 0.09% to 9525 and the Chinese Hang Seng ticked up by 0.21% to 22324.
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MARKET SNAPSHOT: U.S. Stocks Add To Gains After Fed Move

By Kate Gib son, MarketWatch
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Pub lished Decemb er 12, 2012 NEW YORK
Dow Jones Newswires
U.S. stocks on Wednesday jumped to session highs after the Federal Reserve added more stimulus only to reduce those gains Fed Chairman Ben Bernanke warned the central bank did not have the tools to combat the potential damage from the fiscal cliff. "We cannot offset the full impact of the fiscal cliff, it's just too big," Bernanke told a news conference Wednesday afternoon.
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Bernanke took questions after the U.S. central bank said it would add $45 billion in Treasury-note purchases to its $40 billion-a-month purchases of mortgage-backed bonds, and would keep official rates near zero so long as the jobless rate remains above 6.5% and inflation is not forecast to rise TRENDING IN NEWS above 2.5%. "I'm not surprised by the lack of a change in interest rates, and I'm not surprised by the continued buyback, but I am extremely surprised by the tying it [interest-rate policy] to the unemployment rate, as I don't know how you even put those two together," said Chip Cobb, portfolio manager at BMT Asset Management in Bryn Mawr, Penn. "Investors are trying to shake out what it really means, but I don't think the market understands it, for one, and two, [the market] is still clearly focused on Jan. 1 and what that means," said Cobb of the automatic spending cuts and tax increases scheduled to start if budget negotiations in Washington do not succeed. After an 81-point climb, the Dow Jones Industrial Average (DJI) was lately up 45.92 points, or 0.4%, to 13,294.36, with 22 of its 30 components rising. Dow gainers included DuPont (DD) , up 2% after the chemicals company said it would repurchase as much as $1 billion of its shares in 2013 and 2012 profit would come in at the high end of its outlooks. The S&P 500 (SPX) added 6.88 points, or 0.5%, to 1,434.72, with telecommunications and financials the strongest performers of its 10 major sectors. Aetna Inc.'s (AET) shares rallied 4.1%, a day after the health insurer projected earnings growth of about 6% next year. After dipping into the red ahead of the Fed announcement, the Nasdaq Composite (RIXF) was up 6.2 points, or 0.2%, to 3,028.48. Advancers outran decliners by a 3-2 ratio on the New York Stock
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Exchange, where 409 million shares traded as of 2:50 p.m. Eastern. Composite volume neared 2.7 billion. The U.S. dollar (DXY) and Treasury notes fell, with the yield on the 10-year note (10_YEAR) rising to 1.691%. Cliff notes A day after conferring by phone with President Barack Obama, House Speaker John Boehner on Wednesday said the president's revenue demand would not pass Congress. Later Wednesday, White House spokesman Jay Carney said the president continues to believe a deal to avert the fiscal cliff is possible by the end of the year. But Carney said Republican leaders have given "no indication" that they would agree to higher taxes for the wealthiest 2%. "You see a lot of gamesmanship, but it looks on the surface like we're going to see some increases in taxes," said Bruce Bittles, chief investment strategist at Robert W. Baird & Co., who believes a budget deal will be reached by the end of the year. "Everything is so politicized now, it's hard to get your arms around what is real and not real, but the market is assuming nothing much is going to happen here," Bittles added. Obama has cut his demand for $1.6 trillion in additional revenue from taxing wealthy Americans to $1.4 trillion over a decade. The president's figure remains $600 billion above the Republican's stance. The CBOE Volatility Index (VIX) fell 3% to 15.570. "Based on continued views of the VIX, it still looks like the market expects a deal, and you keep hearing mildly positive comments, if not from Washington, then certainly from a lot of the business leaders and money managers, who feel there is a chance of a mild resolution before the year is done," said Cobb. . Subscribe to WSJ: http://online.wsj.com?mod=djnwires Copyright 2012 Dow Jones Newswires
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Sensex up 92 points ahead of IIP data

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The Sensex gained in early trade on Wednesday on fresh buying by funds and retailers. File photo
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The BSE benchmark Sensex on Wednesday gained by nearly 92 points in early trade on fresh buying by funds and retailers ahead of industrial output data amid a firming trend in other Asian bourses. The 30-share barometer rose by 91.65 points, or 0.47 per cent, to 19,478.79. It had lost nearly 100 points in the past three sessions. All the sectoral indices, led by IT and interest-sensitive auto, were trading with gains up to 1 per cent. Similarly, the wide-based National Stock Exchange index Nifty moved up by 25.80 points, or 0.43 per cent, to 5,924.60. Brokers said expectations of better industrial output data for October to be released later today and a firming trend on the Asian markets mainly triggered buying by funds and retail investors. In the Asian region, Hong Kongs Hang Seng index rose by 0.45 per cent and Japans Nikkei was up by 0.61 per cent in early trade. The US Dow Jones Industrial Average ended 0.60 per cent higher in Tuesdays trade following signs of progress in fiscal cliff talks and upbeat data from Germany and Spain. Keywords: Indian stock markets, Sensex, BSE, Nifty, NSE More In: Markets | Business Comments Recommended Post a comment
Printable v ersion | Dec 1 4 , 2 01 2 7 :1 1 :57 AM | http://www.thehindu.com /business/m arkets/sensex-up-9 2 -points-ahead-of-iip-data/article4 1 9 09 4 9 .ece The Hindu
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12/13/12
The Hindu : Business / Markets : Sensex up 92 points ahead of IIP data
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12/15/12
The Hindu : Business / Markets : Sensex ends 5-day losing streak, gains 88 points
Business Markets
Sensex ends 5-day losing streak, gains 88 points

PTI
The BSE benchmark Sensex on Friday recovered by 88 points on rising investors confidence after wholesale inflation eased, raising hopes of an interest rate cut next week. Snapping a five-day long decline, the 30-share index gained 87.99 points, or 0.46 per cent, to 19,317.25. After a lower start, the gauge erased some of the 1.3 per cent losses in the last five days. The broad-based National Stock Exchange index Nifty rose by 28.10 points, or 0.48 per cent, to 5,879.60. Brokers said the easing inflation raised hopes that the Reserve Bank of India would cut interest rate in its quarterly policy meet next week. They said the sentiment further bolstered as Finance Minister P Chidambaram said some more steps will be taken in next few weeks to turn around the economy. Inflation declined to 7.24 per cent in November mainly on account of lower prices of some vegetables, giving a cue to RBI to consider interest rate cut next week to promote sagging growth. In 30-BSE index components, 14 stocks gained led by Reliance Industries, Jindal Steel, ICICI Bank, Hindalco, State Bank of India and Sterlite Industries. The metal sector gained the most by 2.31 per cent to 10,569.90 followed by banking index 1.27 per cent to 14,264.80 as investors felt any further boost to the economic reforms would push up these sectors. Keywords: BSE, sensex More In: Markets | Business Comments Recommended Post a comment
Printable v ersion | Dec 1 6 , 2 01 2 1 :58:1 4 AM | http://www.thehindu.com /business/m arkets/sensex-ends-5day -losing-streak-gains-88-points/article4 1 9 9 81 0.ece The Hindu
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12/17/12
Wall Street Rallies on Budget Optimism | Fox Business


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FOX Business: Capitalism Lives Here The markets roared higher Monday, ending close to session highs, as traders cheered apparent progress on negotiations aimed at averting the fiscal cliff. It was the first triple-digit gain of December for the blue-chip average. Today's Markets The Dow Jones Industrial Average rallied 100 points, or 0.76%, to 13235, the S&P 500 jumped 16.8 points, or 1.2%, to 1430 and the Nasdaq Composite gained 39.3 points, or 1.3%, to 3011.
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Every major sector closed the day in the green, helping the broad S&P 500 close at its highest level since October 22. Trading desks remained somewhat fixated on talks to avert the fiscal cliff that is looming just weeks away. Without a deal, the world's biggest economy is set to be pounded by painful spending cuts and tax increases. As of late last week, a deal seemed far out of reach, with Democrats and Republicans continuing to lob criticism at one another. However, a source close to House of Representatives Speaker John Boehner told FOX Business there was a framework under discussion that included $1 trillion in spending cuts and $1 trillion in new revenue. A source also said President Barack Obama and Speaker Boehner were meeting at the White House for further discussions. Apple (AAPL) was another focus on Monday after Citigroup cut its rating
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on the tech titan to neutral from buy. It also cut its price target by $100 to $575. Morgan Stanley offered a differing view, with its analysts saying Sunday "despite concerns to the contrary, iPhone and iPad demand remain strong." The investment bank has Apple rated as overweight with a price target of $714. Since the company's market capitalization is nearly half a trillion dollars, big movements tend to impact the broader markets, especially the technology-heavy Nasdaq. Also on the corporate front, Sprint (S) said it will acquire a 100% stake in Clearwire (CLRW) for $2.2 billion. The deal values the company at roughly $10 billion, including debt. The economic calendar was fairly light on the day. The New York Federal Reserve said manufacturing in the Empire State region contracted at a faster pace in December than it did the month prior. The gauge came in at -8.1, down from -5.22, and considerably weaker than the -1 economists expected. Energy futures were mixed. The benchmark crude contract rose 47 cents, or 0.54%, to $87.20 a barrel. Wholesale New York Harbor gasoline was down 0.28% to $2.655 a gallon. In metals, gold drifted higher by $1.20, or 0.07%, to $1,698 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.1% to 2628, the English FTSE 100 slumped 0.16% to 5912 and the German DAX rose 0.11% to 7605. In Asia, the Japanese Nikkei 225 rallied 0.94% to 9829 and the Chinese Hang Seng tilted lower by 0.41% to 22514.
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Rich Edson contributed reporting from Washington, D.C.

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Wall Street Ends in Green on Budget Optimism

The markets roared higher Monday, ending close to session highs, as traders cheered apparent progress on negotiations aimed at averting the fiscal cliff. It was the first triple-digit gain of December for the blue-chip average.
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The Hindu : Business / Markets : Sensex gains 120 points on hopes of rate cut in Jan
Business Markets
Sensex gains 120 points on hopes of rate cut in Jan

PTI
In 30-BSE index components, 23 stocks gained, while six closed with losses. Tata Power remained unchanged.
The broad-based National Stock Exchange index Nifty rose by 38.90 points, or 0.66 per cent, to 5,896.80, led by stocks of banking, realty shares.
The BSE benchmark Sensex closed over 120 points higher with rate sensitive banking and realty stocks attracting good buying on optimism of RBI easing monetary policy next month even as the central bank kept the interest rate unchanged in policy review on Tuesday. The 30-share index jumped after RBI announced its mid quarter policy review and ended with a gain of 120.33 points, or 0.63 per cent, at 19,364.75. The broad-based National Stock Exchange index Nifty rose by 38.90 points, or 0.66 per cent, to 5,896.80, led by stocks of banking, realty shares. RBI kept the key interest rates unchanged, but hinted at easing of rates in January saying with decline in inflation, the focus of monetary policy would shift to removing impediments to growth. Brokers added that a firming global trend further fuelled the uptrend. In 30-BSE index components, 23 stocks gained, while six closed with losses. Tata Power remained unchanged. Major gainers were State Bank of India, ICICI Bank, Bharti Airtel, BHEL, Hindalco, Infosys, Larsen and Toubro, Jindal Steel, Tata Steel and Sun Pharma. The realty sector index gained the most by 2.38 per cent to 2,120.67, followed by metal index by 1.78 per cent to 10,946.67. Banking index rose by 0.34 per cent to 14,322.15. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade
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12/18/12
The Hindu : Business / Markets : Sensex gains 120 points on hopes of rate cut in Jan
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Printable v ersion | Dec 1 9 , 2 01 2 7 :2 4 :51 AM | http://www.thehindu.com /business/m arkets/sensex-gains-1 2 0-points-on-hopes-of-rate-cut-in-jan/article4 2 1 3 51 7 .ece The Hindu
2/2
Stocks end higher on fiscal cliff optimism - Dec. 18, 2012
http://money.cnn.com/2012/12/18/investing/stocks-markets/index.html
By Maureen Farrell @CNNMoneyInvest December 18, 2012: 4:21 PM ET
Click chart for more markets data. NEW YORK (CNNMoney)
Stocks enjoyed a nice pop Tuesday, as investors were reassured by signs that a fiscal cliff deal may be taking shape. House Speaker John Boehner's suggestion that he was open to higher tax rates on the wealthiest Americans was described as "progress" by the White House. President Barack Obama responded to the offer with his own comprom on both tax increases and spending cuts. "There's an overriding belief now that we will get a deal done in 2012," said Peter Boockvar, an equity strategist at Mill Tabak. Stocks, already up throughout the morning, edged even higher in the early afternoon after Standard and Poor's booste Greece's credit rating by several notches. "It's a long slow process, but investors are happy to see that progress is b made in Europe," said Doug DePietro, managing director at Evercore.
Related: Cerberus to sell gunmaker after massacre
The Dow Jones Industrial Average and the S&P 500 closed up between 0.9% and 1.1% respectively. Apple ( AAPL, Fortune 500) rose nearly 3%, helping Nasdaq to a 1.5% gain for the day. Although Apple lost an important ruling when a federal judge denied its request for a permanent ban on 26 Samsung products that Apple charged had willfully infringed Apple's patents, investors seemed relieved to find out Samsung had dropped injunction requests against Apple products in Europe. Investment bank Jefferies ( JEF) reported quarterly profits Tuesday that beat forecasts. Shares rose 3%. SW
In the wake of the massacre in Newtown, Conn., gun manufacturers continued to trade lower. Smith & Wesson ( dropped 10%, and Sturm Ruger ( RGR) fell 7%. After the closing bell Tuesday, tech giant Oracle (
ORCL, Fortune 500) reported quarterly results that beat analysts
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Stocks end higher on fiscal cliff optimism - Dec. 18, 2012
http://money.cnn.com/2012/12/18/investing/stocks-markets/index.html
forecasts for profits and revenues. The stock rose after hours.
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European markets closed higher. Meanwhile, Asian markets ended mixed, with Japanese shares continuing to rally hopes of further economic stimulus following the election victory for Shinzo Abe's Liberal Democratic Party. The dollar fell against the British pound and the euro, and was little changed versus the Japanese yen. In other markets, oil prices rose slightly, and gold sold off sharply, dropping more than 1.5%. The 10-year U.S. Treasury note dropped sharply, causing its yield to rise to 1.83%.
First Published: December 18, 2012: 9:46 AM ET
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12/18/12
Stocks Extend Rally Amid Fiscal Optimism | Fox Business


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FOX Business: Capitalism Lives Here The Dow posted its second triple-digit rally in a row as lawmakers continued hammering out a deal aimed at averting or at least dulling the fiscal cliff's blow. Today's Markets The Dow Jones Industrial Average climbed 116 points, or 0.87%, to 13351, the S&P 500 gained 16.4 points, or 1.2%, to 1447 and the Nasdaq Composite rose 43.9 points, or 1.5%, to 3055. The broad S&P 500 posted its best two-day rally in nearly a month and ended at its highest level in nearly two months. Every major sector ended higher, led by technology, energy, financial, industrial and consumer discretionary stocks. Traditionally defensive plays like consumer staples, telecommunications and utilities performed the worst. Meanwhile, volatility crumbled 4.7% and traders ditched the safety of U.S. Treasury bonds. The yield on the 10-year jumped 0.065-percentage point to 1.827%. Volume was about 500 million shares higher than the year-todate average on the New York Stock Exchange in a sign of the conviction in the rally.
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The upbeat sentiment that started Monday persisted on Tuesday on news reports both sides are coming closer to a deal. Sources told Fox News the RECENT QUOTES Obama administration offered Republicans a higher threshold for tax +0.99% FOX50 increases in a move House Speaker John Boehner's office called "a step Today FOX 50 INDEX in the right direction." At present, there is a framework for $1 trillion in
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revenue increases coupled with $1 trillion in spending cuts, according to Fox News. However, sticking points remain, including raising the debt ceiling, which would be important in staving off a debt debacle like the one that roiled markets last summer. House Republicans also offered a 'Plan B' to would avoid tax hikes on most Americans should a deal not come through in time, FOX Business' Rich Edson first reported. However, the White House nearly immediately rejected the notion of a plan, but said it remains hopeful a deal will be struck. The trading community remained cautiously optimistic. Art Cashin, UBS director of floor operations at the New York Stock Exchange, wrote of the reported proposals, "unfortunately, none of the give and take sounds like a grand design package." He wrote that instead, it "looks like cobbling together a short-term band-aid solution." The economic calendar was set to be fairly light on the day, with the pace of releases heating up toward the middle and end of the week. Energy futures were broadly higher. The benchmark crude contract climbed 73 cents, or 0.84%, to $87.93 a barrel. Wholesale New York Harbor gasoline jumped 1.4% to $2.691 a gallon. In metals, gold dropped $27.50, or 1.6%, to $1,671 a troy ounce. Foreign Markets The Euro Stoxx 50 gained 0.31% to 2636, the English FTSE 100 rose 0.41% to 5936 and the German DAX climbed 0.42% to 7637. In Asia, the Japanese Nikkei 225 rallied 0.96% to 9923 and the Chinese Hang Seng slipped 0.08% to 22495.
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Stocks Extend Rally Amid Fiscal Optimism

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Business Markets
Sensex gains 111 points

PTI
In 30-BSE index components, 23 stocks advanced, while seven closed with losses. Photo:AP
Banking sector stocks hogged limelight after the banking Bill passed in Parliament on Tuesday
The BSE benchmark Sensex on Wednesday closed 111 points higher on continued buying in banking and auto stocks after the Parliament passed the banking Bill that paves way for foreign investments in the sector and establishment of new private banks. Rising for the second straight day, the index closed 111.25 points up, or 0.57 per cent, at 19,476, after touching a high of 19,516.02. The broad-based National Stock Exchange index Nifty rose by 32.80 points, or 0.56 per cent, to 5,929.60. Brokers said banking sector stocks hogged limelight after the banking Bill passed in Parliament on Tuesday, paving way for foreign investments in the sector and establishment of new private banks. They said a firming global trend as US lawmakers look to be closing in on a deal to avert the fiscal cliff further influenced the trading sentiment. Shares of non-banking financial companies (NBFC) and banks surged after the Lok Sabha passed a Bill paving way for foreign investments in the sector and establishment of new private banks. Shares of Edelweiss Financial Services soared,Religare Enterprises, Mahindra and Mahindra Financials, Shriram Transport Finance, IDFC and Larsen and Toubro Finance Holdings recorded handsome gains. In 30-BSE index components, 23 stocks advanced, while seven closed with losses. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade
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Sensex gains 122 points More In: Markets | Business Comments Recommended Post a comment
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Investors on edge over the fiscal cliff - Dec. 20, 2012
Stocks: Still all about the fiscal cliff

By Ben Rooney @CNNMoneyInvest December 20, 2012: 4:24 PM ET
Click for more market data
NEW YORK (CNNMoney)
U.S. stocks drifted higher Thursday as fiscal cliff negotiations in Washington seemed to be headed for a showdown. The Dow Jones industrial average and the S&P 500 both gained about 0.5%. The Nasdaq rose 0.2%. Shares of large U.S. banks were among the best performers, with Bank of America ( BAC, Fortune 500) and JPMorgan Chase ( JPM, Fortune 500) leading the Dow. Goldman Sachs ( GS, Fortune 500), Citigroup ( C, Fortune 500), Morgan Stanley ( MS, Fortune 500) and Wells Fargo ( WFC, Fortune 500) were also higher. After making progress earlier this week, President Obama and House Speaker John Boehner butted heads Wednesday, ahead of the year-end deadline for an agreement on tax hikes and spending cuts. Lawmakers in the House will vote later Thursday on Plan B, a GOP version of an agreement on the fiscal cliff. The White House has already threatened to veto that plan, saying it would bring only "minimal" changes in projected budget deficits. Boehner said Thursday he was not convinced Plan B would die in the Senate, where Democrats have a majority. But he criticized Obama for not making concessions on spending cuts and entitlement reform after Republicans gave ground on tax hikes. "I am convinced the president is unwilling to stand up to his own party on the big issues that face our country," said Boehner. While failing to resolve the fiscal cliff could tip the economy back into recession, some investors have accepted that the talks will probably continue into early next year. "I increasingly believe that we are going to fall off the fiscal cliff," said Jack Ablin, chief investment officer at BMO Private Bank. "But it will not be the end of the world." Investors downplayed the risk of missing the deadline, suggesting that lawmakers could delay some spending cuts and that changes to the tax code could be made retroactive. "It doesn't have to be an immediate nose dive," said Art Hogan, managing director at Lazard Capital Markets. "But the market is certainly not going to celebrate if the deal gets pushed into next year." As has been the case recently, the fiscal cliff continued to trump economic fundamentals.
money.cnn.com/2012/12/20/investing/stocks-markets/index.html
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Investors on edge over the fiscal cliff - Dec. 20, 2012
The government released its final estimate of third-quarter GDP growth -- a 3.1% annual rate, much faster than the 1.3% rate in the second quarter. In other economic news, jobless claims rose by 17,000 to 361,000 in the latest week. Existing home sales rose 5.9% in November to an annual rate of 5.04 million, according to the National Association of Realtors. It was the highest sales rate since November 2009. Manufacturing activity in the Philadelphia area rebounded in December, according to a report from the Federal Reserve Bank of Philadelphia. The Philly Fed index rose to 8.1 for the month, up from a negative 10.7 in November. On the corporate front, shares of NYSE Euronext ( NYX) surged 34% after the operator of the New York Stock Exchange agreed to be bought by IntercontinentalExchange Inc ( ICE) for $8.2 billion in cash and stock. After the closing bell, BlackBerry maker Research in Motion ( RIMM) said it lost 22 cents per share in the third quarter, which was a smaller loss than expected. Nik ( NKE, Fortune 500)e reported earnings of $1.14 per share in the company's fiscal second quarter, topping analyst forecasts. KB Home ( KBH) shares fell after the homebuilder reported quarterly earnings that declined over the past year. RAD, Fortune 500) stock soared after the company reported its first profit in more than five years. KMX, Fortune 500) reported strong quarterly results, sending shares higher.
Meanwhile, Rite Aid (
Used car retailer CarMax (
Related: Fortune 500: Worst-performing stocks of 2012
Bed Bath & Beyond Inc ( BBBY, Fortune 500) shares dropped after the retailer offered weak guidance when it reported quarterly results Wednesday. Also late Wednesday, Google ( GOOG, Fortune 500) announced it will sell its Motorola Mobility Home division, which includes cable set-top boxes and modems, to Arris ( ARRS) for $2.35 billion. Arris stock rose about 3%, while Google ticked slightly higher.
Fear & Greed Index
European markets ended little changed, with the exception of the CAC 40 (
CAC40) in France, which rose 0.2%.
Meanwhile, Asian markets ended mixed, with Shanghai and Hong Kong posting gains and the Nikkei retreating after the Bank of Japan announced a widely anticipated extension of its bond-buying program. The dollar was weaker against most major currencies. Oil and gold prices fell. The yield on the 10-year Treasury note fell to 1.77% from 1.8% on Wednesday.
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The Hindu : Business / Markets : Sensex surges 121 points
Business Markets
Sensex surges 121 points

PTI
The BSE benchmark Sensex on Friday closed 121 points higher on buying in energy stocks following reports of a gradual hike in fuel prices amid a firming global trend. Led by energy major Reliance Industries and ONGC, the Sensex closed 121.04 points up, or 0.63 per cent, to 19,444.84. The broad-based National Stock Exchange index Nifty spurted by 38.25 points, or 0.65 per cent, to 5,908.35. Brokers said energy majors like RIL, ONGC, Indian Oil and Bharat Petroleum remained on the forefront following reports that the government might gradually increase the diesel price next year to cut subsidies. They said the uptrend was further supported on a firming global trend as US lawmakers arranged talks with political parties before a budget deadline. In 30-BSE index kitty stocks, 22 closed with gains while eight surrendered moderate ground led by banking sector on profit-booking from recent upsurge. The oil and gas sector index gained the most by 2.38 per cent to 8,510.52 as segment major and index-heaviest Reliance Industries surged 2.73 per cent to Rs. 840.35 and ONGC by 2.49 per cent to Rs. 265.85. Among others, Oil India added 1.52 per cent to Rs. 466.15, Indian Oil by 3.03 per cent to Rs. 268.80, Hindustan Petroleum by 4.23 per cent to Rs. 292.90 and Bharat Petroleum by 2.23 per cent to Rs. 353.05. The information technologies sector was second best performer by rising 1.21 per cent to 5,686.98, while banking sector index declined 0.01 per cent to 14,330.47 as investor booked profits from the recent surge. Keywords: Sensex, BSE, Nifty, NSE, Indian stock markets, closing trade More In: Markets | Business Comments Recommended Post a comment
Printable v ersion | Dec 2 9 , 2 01 2 1 1 :3 1 :1 2 PM | http://www.thehindu.com /business/m arkets/sensex-surges-1 2 1 -points/article4 2 4 89 3 8.ece
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Business Line : Markets / Stock Markets : Sensex surges 203 points during the week
Sensex surges 203 points during the week

PTI
Mumbai, Dec 29: The last week of the year 2012 paved the way for 2013 to gain further momentum on the back of year-end reforms amid indications of more tough stance to be taken by the government to deal with the rising fiscal as well as trade deficit. Sensex rose by almost 203 points to end the week at 19,444.84, snapping its last 2-week losing streak. All-round buying led by refineries, realty, power and capital goods, following persistent capital inflows from foreign funds amid sops for exporters announced by the government during the week also boosted the market sentiment. RIL, ONGC, IOC and BPCL attracted heavy buying following reports that the government might gradually increase the diesel price to cut subsidies. The possibility of tough reforms after speech of Prime Minister Manmohan Singh at the National Development Council (NDC) meeting, indicating a phased reduction in energy subsidies, and an early implementation of the Goods and Services Tax (GST) helped the recovery. The government announced extension of 2 per cent interest subsidy to exporters till March 2014 and a pilot scheme of 2 per cent interest subsidy for project exports through Exim Bank. The BSE benchmark Sensex resumed higher at 19,278.00 and hovered in a range of 19,504.40 and 19,237.26 before settling the week at 19,444.84, disclosing a net gain of 202.84 points or 1.05 per cent. The NSE 50-share Nifty also shot up by 60.65 points or 1.04 per cent to 5,908.35. IT stocks gained as US lawmakers arranged talks with political parties over the budget deficit issue before the deadline. Foreign Institutional Investors (FIIs) continued their buying spree during the week by investing net Rs 5,663.20 cr including the provisional figure of December 28. Asian stocks ended higher on Friday with Japanese shares poised for their biggest annual gain since 2005, after a report fanned speculation that the countrys central bank will respond to government calls for more asset purchases. Overall, 21 out of 30 Sensex-based scrips closed with gains while others finished with losses. Major gainers were Bharti Airtel (3.65%), Tata Motors (3.42%), Wipro (3.23%), Tata Power (2.93%), Bajaj Auto (2.36%), Reliance Ind (2.11%), Larsen (1.85%), SBI (1.89%), ONGC (1.82%) and Icici Bank (1.74%). However, Jindal Steel declined by 1.94%, M&M by 1.40% and HUL by 1.12%. All 13 sectoral indices settled with gains between 0.02% and 2.05%. The BSE-Oil&Gas rose by 2.05% followed by BSERealty 2.02%, BSE-Power 1.68%, BSE-CG 1.58%, BSE-Teck 1.50%, BSE-PSU 1.46%, Bankex 1.27% and BSE-IT 1.13%. The total turnover at BSE and NSE dropped to Rs 8,780.72 cr and Rs 40,379.64 cr respectively during the truncated week from the previous weeks level of Rs 12,784.27 cr and Rs 63,160.24 cr. The BSE and NSE were closed on December 25 on account of Christmas. Keywords: BSE Sensex, Nifty, weekly stock review O P E N close Recent Article in Stock Markets
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Business Line : Markets / Stock Markets : Sensex surges 203 points during the week
Oil stocks rally over 4% on fuel hike hopes
Oil stocks on Friday rose by as much as 4.2 per cent on hopes of a gradual hike in fuel prices, pushing the benchmark Sensex 121 points...
thehindubusinessline.com/markets/stock-markets//article4252959.ece
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Stocks rally on hopes Congress might act - Dec. 31, 2012
http://money.cnn.com/2012/12/31/investing/stocks-markets/index.html?ii...
By Ben Rooney @CNNMoneyInvest December 31, 2012: 4:57 PM ET
NEW YORK (CNNMoney)
U.S. stocks rallied Monday, ending a volatile year on a high note, as investors welcomed signs a fiscal cliff deal is takin shape in Washington. On the final day of 2012, the Dow Jones Industrial average rose 1.3%, or more than 167 points. The S&P 500 adde 1.7%. The Nasdaq rose 2%, with shares of Apple ( AAPL, Fortune 500) gaining 4.6%. The advance came on light volume, since many professional investors are away from their desks for the holidays, trad said. While an official agreement has yet to be announced, investors were relieved that lawmakers appear to be movin toward an agreement to prevent tax hikes and spending cuts from taking effect Jan. 1. "Investors were expecting the worst, so anything positive coming out of Washington is greeted with buying," said Jack Ablin, chief investment officer at Harris Private Bank. President Barack Obama said an agreement to prevent taxes from going up on middle-class households "is within sigh but it's not done." "There are still issues left to resolve, but we are hopeful that Congress can get it done," the president told a gathering "folks" at the White House. Obama chided lawmakers for waiting until the last possible minute, acknowledging that he will not be leaving town for t New Year holiday. "It looks like I will be spending New Year's here, in D.C.," he said. After the president's speech, Senator Mitch McConnell said lawmakers are "very, very close" to a deal. Congress appears to be near an agreement to raise the income tax rate on top earners to what it was during Presiden Clinton's last term in office, according to sources close to the process. The deal would also increase estate taxes, extend unemployment benefits and potentially put off the $110 billion in automatic spending cuts called for under the fiscal cliff, sources told CNN.
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The proposal, assuming lawmakers in both chambers approve it, would prevent the full force of the fiscal cliff from hittin the economy. But it does not address the nation's long-term fiscal problems and will not resolve the uncertainty hangin over the market, said Ron Florance, managing director of investment strategy at Wells Fargo Private Bank. "They are a day late and several trillion dollars short of solving this problem," said Florance. "It's an embarrassment." If a deal is announced after U.S. markets close today, global investors will not have an opportunity to respond until the Shanghai Composite and Hang Seng markets open for trading Tuesday at 8 p.m. ET. All major global markets will be closed Jan. 1 in observance of New Year's Day.
Related: Fear & Greed Index ends the year in greed
Despite all the uncertainty, U.S. stocks have had a pretty good year overall, with all three indexes up between 7% and 16%. By comparison, stocks ended 2011 almost exactly where they began the year, although there was a lot of movem in between. Stocks rallied in the first quarter of 2012 on hopes the Federal Reserve would step up its stimulus policies. But the market took a tumble in May as concerns about Europe's debt crisis resurfaced and the U.S. economy stalled. After bouncing back in the summer, stocks hit a high for the year in September, when the Fed announced more asset purchases. In November, stocks fell anew after Obama beat out Republican challenger Mitt Romeny in the race for the White Ho Investors have been sidelined by the fiscal cliff ever since, with stocks ending little changed in December. The ongoing battle over taxes and spending in Washington will continue to cause volatility in the market over the short term, said Florance. But he said stocks are still priced at attractive levels relative to expectations for corporate earning next year. "We see a pretty healthy environment for stock investors next year," said Florance. "We're not exuberant, but modestly bullish."
Related: S&P 500 winners and losers 2012
On Friday, European markets ended mixed. Stocks in London and Frankfurt fell, while the Paris market advanced. As stocks got a boost from strong manufacturing data out of China. The Shanghai Composite, one of the world's wors performing indexes, managed to eke out a 3% gain for the year and the Nikkei, which was closed Monday, ended the y with a 20% gain. Meanwhile, oil prices eased and gold prices edged higher. The yield on the 10-year U.S. Treasury note rose to 1.72 The U.S. dollar gained versus the euro and the yen, but fell against the British pound. One of the only pieces of company news was a $665 million deal announced late Sunday to buy investment banking fi Duff & Phelps ( DPG) by a joint venture led by the Carlyle Group ( CG). The offer price represented a 19% premium over Duff & Phelps' stock close Friday.
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Fiscal Cliff Dysfunction Stains Washington The truth is that the U.S. economy is apparently governed by institutions so incompetent and driven by self-interest that they couldnt prevent a (self-inflicted) crisis nearly two years in the making. Source: 'Tentative Cliff Framework in Sight
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Stocks Soar as Budget Agreement Appears to be in Sight | Fox Business


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Stocks Soar as Budget Agreement Appears to be in Sight

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FOX Business: Capitalism Lives Here The markets surged after Senate Minority Leader Mitch McConnell said lawmakers are very, very close to forging a plan that dodges at least part of the fiscal cliff. Today's Markets As of 3:06 p.m. ET, the Dow Jones Industrial Average rallied 142 points, or 1.1%, to 13078, the S&P 500 surged 20.6 points, or 1.5%, to 1405 and the Nasdaq Composite soared 56 points, or 1.9%, to 3016. For the year, the Dow is looking to add 7%, the S&P is poised to tack on 13.1% and the Nasdaq is set to post a 15.8% advance. The markets had been on a five-day losing streak as of Friday amid concerns about the fiscal cliff. However, sentiment took a swift turn for the upside on Monday amid hopes a last-minute deal can be forged. The remarks from McConnell, a Republican, came after similarly optimistic remarks from Democratic President Barack Obama. Analysts expect a deal to be passed in the Senate first, and then move to the House of Representatives, before landing on Obama's desk. It wasn't clear immediately whether Republicans in the House would pass the Senate bill that is under discussion. The bill in the Senate would lower taxes on individual filers making
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$400,000 a year or less and joint filers making less than $450,000 a year, a source close to the discussion told FOX Business' Rich Edson. It would also permanently fix the alternative minimum tax, extend emergency unemployment benefits and likely push back automatic spending cuts, this person said. The fiscal cliff -- a mixture of painful tax hikes and spending cuts -- is set to be triggered in mere hours as America celebrates New Year's. Still, analysts at Nomura pegged the odds of a "mini deal" before the fiscal cliff at one-in-three. The investment bank also rang warning bells about the impact the ongoing strife on Capitol Hill will have on the U.S. economy. "Our outlook for the first quarter has for some time anticipated a significant economic slowdown in response to fiscal drag and a contentious fiscal debate," the analysts wrote. "We will continue to monitor closely how businesses, consumers, and financial markets react to the fiscal debate in coming weeks."
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On the economic front, traders got a look at the manufacturing sector in China. The world's second-biggest economy saw its factories rev up at the fastest pace since May 2011, according to a report by HSBC. As the week progresses, there will be several reports on the U.S. economy, capped with the monthly employment report from the labor department. Energy futures were in the green. The benchmark crude contract rose $1, or 1.1%, to $91.82 a barrel. Wholesale New York Harbor gasoline advanced 0.43% to $2.812 a gallon. In metals, gold gained $19.90, or 1.2%, to $1,676 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.34% to 2636, the English FTSE 100 dipped 0.47% to 5898 and the German DAX fell 0.57% to 7612. In Asia, the Japanese Nikkei 225 climbed 0.7% to 10385 and the Chinese Hang Seng edged lower by 0.04% to 22657.
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Relief Rally: Dow Zooms 300 Points Higher on Fiscal Cliff Fix | Fox Business

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Relief Rally: Dow Zooms 300 Points Higher on Fiscal Cliff Fix
By Adam Samson Pub lished January 02, 2013 FOXBusiness
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FOX Business: Capitalism Lives Here Wall Street stormed into 2013 with a euphoric rally on Wednesday as traders enthusiastically cheered a short-term compromise in Washington that clawed the U.S. back from the recession-inducing fiscal cliff. Today's Markets The Dow Jones Industrial Average surged 308.41 points, or 2.35%, to 13412.55, the S&P 500 soared 36.23 points, or 2.54%, to 1462.42 and the Nasdaq Composite rallied 92.75 points, or 3.07%, to 3112.26. The triple-digit burst of buying marked the Dow's strongest one-day percentage rally since June 2012 and the index's largest point gain to start a new year on record. The broader S&P 500 landed at its highest close since September 14. After months of political sparring on Capitol Hill, lawmakers finally passed a budget bill Tuesday. The move came after essentially 24-straight hours of wrangling in both chambers of Congress as the U.S. technically, if not briefly, slipped over the fiscal cliff. In a sign of the bullish sentiment in the wake of the deal, buying on Wall Street picked up steam, with the major indexes ending at session highs. The blue chips are now just 5.3% away from their all-time record close of 14164.53 set in October 2007.
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Its clearly therapeutic for a market that looked to be losing its confidence, said Peter Kenny, managing director at Knight Capital Group (KCG), who called the rally a very, very aggressive move to the upside. Coupled with a strong rally on Monday that was fueled by signs of progress, the S&P 500 has surged 4.28% in just two sessions -- its strongest two-day performance since November 2011. All 30 blue-chip stocks landed in the green, led by Hewlett-Packard (HPQ) and Caterpillar (CAT ). Small-cap stocks also enjoyed a burst of buying, with the Russell 2000 surging 2.8% to close at a new all-time record high, surpassing its previous high set in May 2011. At the same time, at least 90% of Wednesday's New York Stock Exchange volume was in advancing stocks, making it the second straight 90% up volume session. That marks the first back-to-back 90% up volume days in at least five years and could indicate an overbought market. The deal that is expected to be signed into law by President Barack Obama extends tax cuts on single filers earning less than $400,00 a year and joint filers making less than $450,000. It also delays sequestration -the painful automatic spending cuts associated with the fiscal cliff -- for two months. Global markets cheered the news, with markets in Asia, Australia and Europe tacking on big gains in their first day of trading for the new year. Many economically-sensitive commodities roared higher as well. Market participants were broadly relieved that the deal was passed, averting measures that could have dealt a painful blow to the world's biggest economy. Still, they struck a very cautious tone. Among the reasons for concern were the fact that the bill simply delayed the sequestration and failed to address the debt ceiling. Wall Street will likely savor the resolution for the time being, but experience renewed investment agita before the quarter is out, offering better entry levels as the year progresses, Sam Stovall, chief investment strategist at McGraw-Hills (MHP) S&P Capital IQ, wrote in a note to clients. The U.S. has technically already hit the debt limit, forcing the Treasury Department to take "extraordinary measures" to give Congress headroom until about February. Last time the country pushed the upper bounds of the debt limit, it roiled the markets and cost the U.S. its pristine credit rating with Standard & Poor's. "Considering there are so many headwinds facing the economy, including the debt ceiling negotiation in 60 days, the smart money knows the bullish sentiment will be short-lived. The lesson for investors here is 'buyer beware,'" Todd Schoenberger, managing partner at LandColt Capital wrote in an email. Indeed, according to an analysis by Barclays, fiscal consolidation is likely to hit U.S. gross domestic product by 1.5% this year. On the economic front, the latest Institute for Supply Management data
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show U.S. manufacturing activity increased to 50.7 last month from 49.5 in November. The index was expected to rise to 50.3. Readings above 50 indicate expansion while those below 50 indicate contraction Commodities rallied. The benchmark crude oil contract jumped $1.30, or 1.4%, to $93.12 a barrel. Wholesale New York Harbor gasoline gained 1.2% to $2.795 a gallon. In metals, gold advanced $13.00 or 0.78%, to $1,689 a troy ounce. Foreign Markets The Euro Stoxx 50 soared 2.9% to 2711, the English FTSE 100 rallied 2.2% to 6027 and the German DAX jumped 2.2% to 7779. In Asia, the Chinese Hang Seng surged 2.9% to 23312. The Tokyo Stock Exchange was closed for a holiday. FOX Business reporter Matt Egan contributed to this article.
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Stocks start 2013 with broad gains - Jan. 2, 2013
Stocks start 2013 with broad gains

By Maureen Farrell @CNNMoneyInvest January 2, 2013: 4:35 PM ET
NEW YORK (CNNMoney)
For at least the first day of trading, 2013 is proving to be a very good year. Investors ushered in the New Year by piling into stocks Wednesday, cheering U.S. lawmakers' ability to reach a last minute deal to avert the fiscal cliff. "What's been hanging over the markets for the last couple of months has finally been released," said Sean Kelly, a managing director at Knight Capital Group. "The rally today is 100% about the end of the fiscal cliff, and people are buying with both hands." The Dow Jones Industrial Average gained roughly 308 points, or 2.4%. All 30 Dow stocks showed solid gains. The S&P 500 rose 2.5%, while the Nasdaq spiked 3.1%. The market finished the day near its highs. Both the S&P 500 and Nasdaq posted their largest percentage increases since late 2011. Financial shares posted broad gains, with Bank of America ( BAC, Fortune 500), Citigroup ( C, Fortune 500) and Wells Fargo ( BWF) rising between 2.5% and 4.5%. Credit card companies Visa ( V, Fortune 500) and MasterCard ( MA, Fortune 500) both hit all-time highs. Tech stocks also fared well, with Apple ( increases.
Related: 3 more fiscal cliffs loom
AAPL, Fortune 500) and Hewlett-Packard (
HPQ, Fortune 500) logging big
Oil and gold prices rallied too. The dollar, however, was mixed, gaining against the yen but weakening against the euro and British pound. As investors shifted into riskier assets, safe havens, such as U.S. Treasuries, sold off, with the yield on the 10-year note rising to 1.84% -- a level not seen since mid-October. Investors cheered the late-night deal reached by the House that keeps the Bush tax cuts in place for most Americans, but raises the tax rate on individuals earning more than $400,000 and married couples earning over $450,000. Lawmakers allowed the payroll tax cut to expire but extended federal emergency unemployment insurance benefits for another
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Stocks start 2013 with broad gains - Jan. 2, 2013
year. "This isn't the grand bargain that people were hoping for, but having the deal done gives investors some certainty," said Giri Cherukuri, a portfolio manager with OakBrook Investments.
Fear & Greed Index
Investors ignored the downside to the deal, including Congress' failure to tackle automatic spending cuts, which are now set to go into effect March 1. Additional -- and perhaps more intractable -- challenges remain. Congress must soon raise the debt ceiling, and figure out plans for the postponed spending cuts and the federal budget. The first day of 2013 rally followed a New Year's Eve rally that gave all three indexes yearly gains between 7% and 16%. Major global markets were closed Tuesday for the New Year's holiday, After news of the fiscal cliff deal broke in the early hours of the morning, stocks around the world soared. European markets closed more than 2% higher. Australia's ASX All Ordinaries index added 1.3%. South Korea's KOSPI gained 1.7% and the Hang Seng in Hong Kong advanced 1.9%. Japan's Nikkei and the Shanghai Composite remain closed in an extended New Year's holiday.
Related: Stocks in 2013: Get defensive
Investors also got some good economic news Wednesday. The Institute for Supply Management's monthly manufacturing index showed activity rebounded in December. But investors shrugged off the Census Bureau's data on construction spending, which showed a decrease of 0.3% in November. Analysts had predicted a 0.5% increase. In company news, Avis Budget Group ( CAR, Fortune 500) announced it will acquire Zipcar for $12.25 a share -- a 49% premium over its closing price on Monday. Zipcar ( ZIP) shares rose nearly 48%. Shares of Dole Food ( DOLE, Fortune 500) tumbled 13%, after the company lowered its earnings and sales forecasts for the year, blaming a difficult economic environment for its fresh fruit business. Shares of LinkedIn ( LNKD) dropped nearly 2%, after it was downgraded by analysts at Barclays.
First Published: January 2, 2013: 9:47 AM ET
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The Hindu : Business / Markets : Sensex gains 144 points in early trade
Business Markets
Published: January 2, 2013 09:44 IST | Updated: January 2, 2013 09:44 IST
Sensex gains 144 points in early trade

PTI
The Hindu
The BSE benchmark Sensex on Wednesday gained nearly 144 points in early trade on sustained buying by funds amid firming Asian trend. The 30-share barometer rose by 143.57 points, or 0.73 per cent to 19,724.38 with all the sectoral indices, led by realty and metal, trading in positive zone with gains up to 1.25 per cent. The index had gained 154.10 in Tuesdays trade. The wide-based National Stock Exchange index Nifty moved up by 41.25 points, or 0.69 per cent, to 5,992.10. Brokers said the sentiment remained strong on sustained inflows from foreign funds into equity market amid a firming trend in the Asian region as U.S. poised to avert fiscal cliff. Banking sector stocks continued their upward march on expectations of a rate cut by the Reserve Bank of India. Stocks of Bank of India gained 0.71 per cent, State Bank of India shot up by 1.20 per cent, while ICICI Bank up 0.91 per cent. In the Asian region, Hong Kongs Hang Seng rose by 1.18 per cent. The stock market in Japan is closed on Wednesday. Keywords: BSE, NSE, Sensex, Nifty, U.S. fiscal cliff More In: Markets | Business Comments Recommended Post a comment
Printable v ersion | Jan 3 , 2 01 3 5:3 8:2 4 AM | http://www.thehindu.com /business/m arkets/sensex-gains-1 4 4 -points-in-early -trade/article4 2 6 4 3 3 6 .ece The Hindu
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1/8/13
The Hindu : Business / Markets : Sensex up 51 points on fag-end buying
Business Markets
Sensex up 51 points on fag-end buying

PTI
Paring initial losses, the BSE benchmark Sensex today gained 51 points to end at 19,742.52 on fag-end buying, mainly in State Bank of India and ITC shares. The 30-share index recovered from initial losses to end higher by 51.10 points, or 0.26 per cent, at 19,742.52, as investors purchased banking and realty stocks available at attractive levels. Similarly, the wide-based National Stock Exchange index Nifty rose by 13.30 points, or 0.22 per cent, to 6,001.70, after touching the days low of 5,964.40. Brokers said investors were selective in their buying and picked up fundamentally strong stocks. Buying in front-line stocks like SBI and ITC helped overcome the impact of a weak trend in Asian and European markets. SBI climbed 1.07 per cent to Rs. 2,493.45 after reports of a merchant banker upgrading the stock, while ITC rose for the first time in five days by adding 2.18 per cent to Rs. 285.30. Mortgage lender HDFC Ltd gained 1.95 per cent to Rs 839.65. Heavyweight stocks RIL lost 0.56 per cent to Rs. 850.35, while Infosys fell by 1.41 per cent to Rs. 2,341.20 ahead of its quarter earnings on January 11. In the 30-BSE index components, 16 stocks ended with gains while 14 finished lower. The realty and FMCG sector indices were the front runner on investment buying. Keywords: sensex, BSE, closing trade More In: Markets | Business Comments Recommended Post a comment
www.thehindu.com/business/markets/sensex-up-51-points-on-fagend-buying/article4286973.ece?cs 1/2
1/8/13
The Hindu : Business / Markets : Sensex up 61 points in early trade
Business Markets
Sensex up 61 points in early trade

PTI
The BSE benchmark Sensex on Wednesday rose by over 61 points in early trade on sustained buying by funds amid a firming trend in the Asian region. The 30-share barometer, which had gained 51.10 on Tuesday, rose further by 61.51 points, or 0.31 per cent to 19,804.03 with all the sectoral indices, led by auto and realty, trading in positive zone with gains up to 1.07 per cent. The wide-based National Stock Exchange index Nifty moved up by 13 points, or 0.22 per cent per cent, to 6,014.70. Brokers said the sentiment remained strong on continued inflows from foreign funds into equity market amid a firming trend in the Asian region. Besides, hopes of encouraging corporate earnings for the third quarter also generated buying activity, they said. In the Asian region, Hong Kongs Hang Seng rose by 0.39 per cent. while Japans Nikkei up by 0.47 per cent. Keywords: sensex, stocks, opening trade, BSE More In: Markets | Business Comments Recommended Post a comment
Printable v ersion | Jan 9 , 2 01 3 1 0:2 7 :05 AM | http://www.thehindu.com /business/m arkets/sensex-up-6 1 -points-in-early -trade/article4 2 89 7 2 9 .ece The Hindu
www.thehindu.com/business/markets/sensex-up-61-points-in-early-trade/article4289729.ece?css=print
1/1
1/9/13
Wall Street Snaps Two-Day Losing Streak | Fox Business


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FOX Business: Capitalism Lives Here The markets put an end to a two-day slide as traders responded to a fairly upbeat start of fourth-quarter earnings season. Today's Markets The Dow Jones Industrial Average climbed 61.7 points, or 0.46%, to 13391, the S&P 500 advanced 3.9 points, or 0.27%, to 1461 and the Nasdaq Composite rose 14 points, or 0.45%, to 3106.
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Starting earnings season on a mostly positive note, aluminum giant Alcoa (AA) posted fourth-quarter earnings of 6 cents a share, matching Wall Streets expectations. Revenues of $5.9 billion topped analysts forecasts of $5.6 billion. The Dow component also said it sees global aluminum demand growth of 7% this year, up one percentage point from 2012. Yet Alcoa's shares traded flat to slightly higher Wednesday. Still, market participants have generally subdued expectations for the fourth quarter. Dan Greenhaus, chief global strategist at BTIG, wrote in an email that Wall Street is expecting 3% growth for S&P 500 companies, down sharply from 10% at the end of September. He said to pay especially close attention to technology names -- like
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Elsewhere, German industrial production data released on Wednesday came in far short of expectations. The factory sector in Europe's biggest economy revved up by 0.2% on a month-to-month basis in November, compared to forecasts of 1%. The report highlights the extent to which the eurozone's debt woes have begun infecting even the continent's most robust economies. The U.S. data docket is bare on the day, but will pick up during the final two days of the week. On Thursday, traders will get a look at weekly jobless claims and then trade will be in focus on Friday. In corporate news, Boeing (BA) rallied 2% as traders bet safety
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worries regarding its highly-lauded 787 Dreamliner may be overblown. "Sell the flap, buy the weakness," Oppenheimer advised investors. Morgan Stanley (MS) plans to cut around 1,500 workers, representing about 6% of the companys workforce, sources told FOX Businesss Charlie Gasparino. Goldman Sachs (GS) also revealed that it will provide daily pricing of U.S. money market funds starting immediately in a move it believes will increase transparency. According to Goldman, current regulations compel companies to report on a monthly basis with a 60-day lag. PNC Financial (PNC) disclosed more than $300 million in mortgage-related costs, but said it still plans to beat fourth-quarter earnings estimates. Herbalife (HLF) is said to be mulling a potential lawsuit against Activist investor William Ackman. His allegations that the nutrition company is a "pyramid scheme" sent the stock plunging late last year, although it rallied on Wednesday after Daniel Loeb's Third Point disclosed an 8.2% passive stake in Herbalife by acquiring 8.9 million shares. Oil futures ticked lower. The benchmark U.S. contract fell 5 cents, or 0.05%, to $93.10 a barrel. Wholesale New York Harbor gasoline slumped 0.55% to $2.779 a gallon. In metals, gold fell $6.70, or 0.4%, to $1,656 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.52% to 2705.43, the English FTSE 100 climbed 0.86% to 6106.53 and the German DAX edged up by 0.37% to 7723.02.
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In Asia, the Japanese Nikkei 225 jumped 0.67% to 10579 and the Chinese Hang Seng advanced 0.46% to 23218.
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Stocks Jump on Strong China Trade Data | Fox Business


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Stocks Jump on Strong China Trade Data

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The Labor Department said new claims for unemployment benefits rose last week to 371,000 from a downwardly revised 367,000 the week prior. Claims were expected to fall to 365,000 from an initially reported 372,000. A separate report showed wholesale inventories climbing 0.6% in November from October, a faster clip than the 0.3% forecast. Also on the economic front, the European Central Bank held its main refinancing rate at 0.75%, as expected. The Bank of England held its benchmark interest rate at 0.5% and the size of its assetpurchase program at 375 billion pounds, as expected. In corporate news, BATS Global Markets issued a note to clients late Wednesday warning that a "system issue" allowed hundreds of thousands of transactions to be processed at prices that were different from the best ones available in a situation that has been ongoing since 2008. BATS is the third-biggest U.S. equities exchange and processes 12% to 13% of U.S. equity transactions daily. Herbalife (HLF) held an investor conference on the day in which it defended itself against claims from activist hedge fund manager William Ackman that it is basically a "pyramid scheme." Increasingly, the dispute it becoming a clash of hedge fund titans, with high-profile managers picking both sides, causing the stock to fluctuate violently. Tiffany & Co. (TIF) shares came under heavy selling pressure after the luxury retailer said its full-year earnings would come in at the low end of its guidance. In commodities, oil futures advanced. The benchmark contract jumped 72 cents, or 0.77%, to $93.82 a barrel. Wholesale New York Harbor gasoline climbed 0.52% to $2.7933 a gallon. In metals, gold rallied $22.50, or 1.4%, to $1,678 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.07% to 2708, the English FTSE 100 gained 0.05% to 6102 and the German DAX dipped 0.16% to 7708. In Asia, the Japanese Nikkei 225 advanced 0.7% to 10653 and the Chinese Hang Seng edged up by 0.59% to 23354.
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The Hindu : Business / Markets : As GAAR deferred, Sensex hit two-year high
Business Markets
As GAAR deferred, Sensex hit two-year high

PTI
As the Finance Minister announced the deferment of GAAR for two more years, amid expectation of interest rate hike the Sensex shoot up to a two year high on Mondy.
The Hindu
The BSE benchmark Sensex on Monday closed to two-year high of 19,906.41 points led by buying in banking and software stocks following postponement of GAAR amid hopes of interest rate cut after inflation declined to three-year low of 7.18 per cent. The Sensex ended 242.77 points up, or 1.23 per cent, to close at 19,906.41, a level last seen on January 6, 2011, soon after the government postponed General Anti Avoidance Rule (GAAR) for two years till April 2016. Similarly, the National Stock Exchange index Nifty shot up by 72.75 points, or 1.22 per cent, to 6,024.05 as heavyweight Infosys drove the software sector stocks higher after posting attractive revenue guidelines. Realty and banking stocks were also star-performers after lower-than-estimated government inflation boosted speculation that the Reserve Bank of India might cut interest rates in its third quarter review of monetary policy on January 29. Inflation based on wholesale prices declined to 7.18 per cent in December. The market sentiment was boosted by Finance Minister P Chidambarams decision to defer implementation of General Anti-Avoidance Rules (GAAR) from April 2014 to 2016, said Sanjeev Zarbade, Vice President-Private Client Group Research, Kotak Securities. Post the December inflation number, expectations of a rate cut has further strengthened the sentiment, he added. Infosys stocks surged by Rs 94.65 to Rs 2,807.25 and CMC Ltd by Rs 36.40 to Rs 1,371.25 driven by reports of better third quarter earning results. Tata Consultancy, HCL Technologies, Mahindra Satyam and Tech Mahindra were other gainers. In the banking sector, State Bank of India shot up by Rs 8.50 to Rs 2,499.45, ICICI Bank by Rs 19.40 to Rs 1,184.70, HDFC Ltd by Rs 15.60 to Rs 825.20 and Bank of India by Rs 17.50 to Rs 381.50. The rate-sensitive realty sector index gained the most by rising 5.01 per cent to 2,252.25 as segment major DLF Ltd shot up by Rs 17.80 to Rs 247.85. The IT sector was second best by adding www.thehindu.com/business/markets/as-gaar-deferred-sensex-hit-twoyear-high/article4307114.ece 2.57 per cent to 6,413.25 followed by
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The Hindu : Business / Markets : As GAAR deferred, Sensex hit two-year high
shot up by Rs 17.80 to Rs 247.85. The IT sector was second best by adding 2.57 per cent to 6,413.25 followed by banking index by 1.07 per cent to 14,653.72. The rally was partly supported by a firming trend in the Asian region and higher opening in Europe after Federal Reserve Bank of Chicago said the central bank should continue to support the global economic recovery. Keywords: Bombay Stock Exchange, Sensex, GAAR, Finance Minister, RBI, Financial stocks
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Printable v ersion | Jan 1 4 , 2 01 3 8:1 3 :2 5 PM | http://www.thehindu.com /business/m arkets/as-gaar-deferred-sensex-hit-twoy ear-high/article4 3 07 1 1 4 .ece The Hindu
www.thehindu.com/business/markets/as-gaar-deferred-sensex-hit-twoyear-high/article4307114.ece
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1/15/13
The Hindu : Business / Markets : Sensex hits 20K-level after two years
Business Markets
Sensex hits 20K-level after two years

PTI
Sensex touched a high of 20,007.09 by gaining over 100 points in opening trade.
AP
After breaching the 20,000-mark twice during trading, the BSE benchmark Sensex on Tuesday finally closed at a tad lower 19,986.82 amid sustained fund-based buying following government measures to bolster economic growth and steady inflow of robust quarterly earnings. After crossing 20,000 points level in early trade and again for a second time in the last hour of market, Sensex closed with a gain 80.41 points, or 0.40 per cent, at 19,986.82. This is the first time since January 6, 2011 that the index crossed the 20,000-mark. ITC, Bharti Airtel, ICICI Bank, Tata Motors and ONGC helped the market rise. However, Infosys, CIL, SBI and M&M were among Sensex losers. Traders booked profits in some counters that recently notched up good gains, experts said. Brokers said the market remained in a bullish mood following GAAR postponement, amid hopes of rate cut after inflation declined to 3-year low of 7.18 per cent on Monday. The sentiment improved further on steady good set of numbers from IT giant Tata Consultancy Services, HCL Tech and Axis Bank, they added. The NSE Nifty closed with a gain of 32.55 points, or 0.54 per cent, at 6,056.60, after touching days high of 6,068.50. It was another strong day for the markets with the Sensex crossing the 20000 mark during the day. Strong results from early declarants have buoyed the sentiments of market. Markets are also expecting interest rates to moderate after WPI. Deferral of GAAR to April 2016 also helped, said Dipen Shah, Head of PCG Research, Kotak Securities. Todays rally was led by stocks of rate-sensitive banking, realty and auto sectors on heightened expectations of a rate cut. RBI meets on January 29 to review its monetary policy. The realty sector index gained the most by 1.05 per cent, followed by bank index that inched up 0.72 per cent and the auto sector index rose by 0.30 per cent. Keywords: sensex, closing trade, BSE, share markets More In: Markets | Business | News
www.thehindu.com/business/markets/sensex-hits-20klevel-after-two-years/article4308929.ece?css=print 1/2
1/15/13
The Hindu : Business / Markets : Sensex hits 20K-level after two years
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Printable v ersion | Jan 1 5, 2 01 3 7 :1 0:06 PM | http://www.thehindu.com /business/m arkets/sensex-hits-2 0klev el-after-two-y ears/article4 3 089 2 9 .ece The Hindu
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1/17/13
The Hindu : Business / Markets : Sensex surges 146 points; RIL, ONGC gain
Business Markets
Sensex surges 146 points; RIL, ONGC gain

PTI
Better quarter earnings by leading IT companies supported the market sentiment today.
PTI
The BSE benchmark sensex today recovered by 146 points on fund-based buying mainly in oil stocks like RIL and ONGC after the government virtually deregulated diesel prices to cut subsidy bill. The 30-share index, which had lost 169 points in the previous session, bounced back by 146.40 points to settle at 19,964.03 points. The broad-based National Stock Exchange index Nifty rose by 37.35 points, or 0.62 per cent, to 6,039.20 points. Brokers said oil processing and marketing companies were in demand after the government virtually deregulated diesel prices allowing small hikes over a period of time. ONGC, which also bears a part of diesel subsidy bill, rose the most among sensex stocks by 3.66 per cent. Oil refiner Reliance Industries shot up by 3.40 per cent. Better quarter earnings by leading IT companies further supported the market sentiment, they added. After Infosys and TCS, software solutions provider HCL Technologies today posted better-than-expected profit in October-December. HCL Tech rose by 4.31 per cent. Infosys by 0.91 per cent as foreign investors remained net buyers of Indian stocks for the 13th straight day. Among others, Hindustan Petroleum gained 6.06 per cent to Rs 345.60, Bharat Petroleum by 3.75 per cent to Rs 295.90, Indian Oil by 6.60 per cent to Rs. 315.90, Oil India by 4.36 per cent to Rs. 514.90 and Essar Oil by 5.06 per cent to Rs. 76.85. Keywords: sensex, closing trade, share markets, Reliance shares, ONGC shares
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Sensex down 34 points in early morning trade More In: Markets | Business Comments Recommended Post a comment
www.thehindu.com/business/markets/sensex-surges-146-points-ril-ongc-gain/article4316203.ece?css=print 1/2
1/17/13
The Hindu : Business / Markets : Sensex surges 146 points; RIL, ONGC gain
Printable v ersion | Jan 1 8, 2 01 3 1 :00:1 4 AM | http://www.thehindu.com /business/m arkets/sensex-surges-1 4 6 -points-ril-ongc-gain/article4 3 1 6 2 03 .ece The Hindu
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Dow ends near 5-year high - Jan. 17, 2013
Dow ends near 5-year high

By CNNMoney Staff @CNNMoneyInvest January 17, 2013: 4:16 PM ET
NEW YORK (CNNMoney)
U.S. stocks rallied Thursday, with the Dow closing near a 5-year high, as upbeat reports on the economy offset mixed corporate results. The Dow Jones industrial average, the S&P 500 and the Nasdaq all rose more than 0.6%, with the S&P 500 closing at a new 5year high. The advance came after the government reported a sharp rise in the number of new homes being built in December. Home Depot ( HD, Fortune 500) was the top gainer on the Dow, while hombuilders PulteGroup ( PHM)and Toll Brothers ( TOL) both gained more than 3%. Investors also welcomed news that first-time claims for unemployment benefits fell to a five-year low last week. The drop in unemployment claims raised hopes the U.S. economy is gaining "traction," said Doug Roberts, Chief Market Strategist for Channel Capital Research. The report bodes well for the job market, he said, which should help support the economy by boosting consumers' spending power. "The initial claims number triggered the rally," said Roberts. "Everything is linked to consumer spending." Despite the improved economic outlook, bank stocks were among the worst performers. Bank of America ( BAC, Fortune 500) shares fell 4.4% after the company reported earnings that were slightly better than analysts had expected, although the results were impacted by various charges stemming from BofA's legal problems. Citigroup ( C, Fortune 500) shares sank 3% after it reported profits that missed expectations, partly due to high legal costs amounting to $1.3 billion. Chief Executive Michael Corbat cited a "challenging" environment. "It's been a real mixed bag with the numbers," said Ben Schwartz, chief market strategist at Lightspeed Financial.
Related: Why aren't investors scared?
Boeing ( BA, Fortune 500) was in focus after officials Europe, India and Japan joined the Federal Aviation Administration after it grounded all Dreamliner planes. They cited worries about onboard lithium-ion batteries that have caught fire twice recently. Shares rose 1%, recovering from sharp losses on Wednesday.
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Dow ends near 5-year high - Jan. 17, 2013
Shares of BlackRock (
BLK, Fortune 500) rose after the world's largest asset manager reported better-than-expected earnings. COF, Fortune 500) andIntel ( INTC, Fortune 500) will report results
American Express ( AXP, Fortune 500),Capital One ( after the closing bell.
Overall, S&P 500 companies are expected to report earnings growth of 3.2% for the last three months of 2012, according to S&P's Capital IQ. "People weren't expecting a great earnings season, and they're not getting one," said Rex Macy, chief investment officer at Wilmington Trust Investment Advisors. "They're getting a decent one. Earnings are meeting lowered expectations." Still the economic recovery is "sound" and there is a certain level of "comfort" in the market, said Macy. The main risk, he added, is that officials in Washington will fail to resolve the crisis over the nation's borrowing limit. "If Washington doesn't mess things up, we should be fine," he said. Shares of Herbalife ( HLF) fell after the vitamin supplement company said it would likely incur temporary expenses relate to "recent events." Activist investor Bill Ackman, who runs the $11 billion hedge fund Pershing Square, has called Herbalife a pyramid scheme and publicly said that he's betting $1 billion that its stock will fall to zero. On the other side is Dan Loeb, who runs Third Point. He's taken an 8% stake in Herbalife and says Ackman's claims are preposterous. CBS ( CBS, Fortune 500) shares jumped after the company announced it would take its American outdoor division, which runs billboards, and convert it into a real estate investment trust. It's planning to outright sell its European and Asian outdoor operations. Mining giant Rio Tinto ( RIO) replaced its CEO after taking a $14 billion writedown on its aluminum and coal businesses.
Related: Fear & Greed Index showing extreme greed
European markets closed higher. The FTSE 100 ( UKX) in London rose 0.5%, the CAC 40 ( CAC40) in Paris gained nearly 1% and the Dax ( DAX) in Frankfurt added 0.6%. In Asia, Japan's Nikkei closed narrowly higher, but the Hang Seng slipped and the Shanghai Composite fell more than 1%. Oil prices jumped 1.3% to $95.48 a barrel. Gold was up nearly $5 to $1,688 an ounce. The yield on the 10-year Treasury note was unchanged at 1.87%. The U.S. dollar gained versus the Japanese yen and British pound, but fell against the euro.
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Wall Street Jumps Amid Economic Optimism | Fox Business


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The Philadelphia Federal Reserve's gauge of manufacturing activity in the mid-Atlantic region fell to -5.8 in January from 4.6 in December. The index was expected to rise to 5.8. Readings above zero point to expansion while those below indicate contraction. Boeing (BA), the blue-chip plane maker, has captured headlines as worries have swelled about its 787 Dreamliner aircraft. In the latest setback, the Federal Aviation Administration ordered carriers flying U.S.-registered 787s to temporarily halt using the plane until they can demonstrate the onboard batteries are safe. Shares pointed down another 2%. Earnings season also began kicking into high gear. Ahead of the opening bell, Bank of America (BAC), UnitedHealth (UNH) and Citigroup (C) reported fourth-quarter earnings. BofA, the second-biggest U.S. bank by assets, saw its net income shrink $700 billion from $2 billion the year prior. Its per-share earnings of 3 cents topped expectations by a penny, but its revenues of $19.61 billion came in shy of the $21.11 billion analysts forecast. UnitedHealth, the biggest U.S. health insurer, said it earned $1.20 a share on revenues of $28.8 billion, topping estimates of $1.19 per share on $28.2 billion. Citi posted an adjusted fourth-quarter profit of 69 cents per share, which was short of the 96 cents analysts forecast. Adjusted revenues of $18.7 billion also missed expectations of $18.8 billion. Oil futures rallied after the hostage situation in Algeria prompted concerns about the security of supplies in the Middle East and North Africa. The benchmark oil contract rose $1, or 1.1%, to $95.24 a barrel. Wholesale New York Harbor gasoline climbed 0.74% to $2.741 a gallon. In metals, gold gained $3.10, or 0.19%, to $1,686 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.43% to 2714, the English FTSE 100 climbed 0.16% to 6114 and the German DAX was flat at 7691. In Asia, the Japanese Nikkei 225 gained 0.09% to 10610 and the Chinese Hang Seng fell 0.07% to 23340.
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Blue Chips See Green: Dow Caps Week at '07 High | Fox Business

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Blue Chips See Green: Dow Caps Week at '07 High

By Adam Samson, Matt Egan Pub lished January 18, 2013 FOXBusiness
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FOX Business: Capitalism Lives Here The Dow rallied 1.2% this week to its highest level since December 2007 as traders reacted to optimistic economic data and a round of corporate earnings. Today's Markets
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The Hindu : Business / Markets : First time in two years, Sensex closes above 20,000 mark
Business Markets
First time in two years, Sensex closes above 20,000 mark

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For the first time in two years, the sensex has crossed 20,000 limit on Friday. File Photo: Vivek Bendre
The Hindu
The partial decontrol of diesel prices triggered a rally in stocks of oil and gas sector on Friday, which resulted in the Bombay Stock Exchange benchmark index, Sensex, closing above the 20,000-mark . With FIIs pumping in around Rs. 90 billion this calendar year so far, the sentiments on bourses are upbeat. Markets have moved up in anticipation of fund flows, which was expected with global liquidity easing. Moreover, the initiatives of the Government to revive the economy also have received the attention of foreign funds. The 30-share index closed at 20039.04 up by 75.01 points. On the National Stock Exchange, the Nifty index closed at 6064.40 with a gain of 25.20 points. Rally in oil & gas stocks The rally was led by BSEs oil and gas stocks, which gained 3.09 per cent, followed by PSUs 2.77 per cent, power 1.44 per cent, realty 0.86 per cent, capital goods 0.21 per cent, banks 0.14 per cent and FMCG 0.03 per cent. However, stocks of information technology, automobile, metal, and healthcare ended in the red. Among the broadbased indices, BSE 100 gained 0.29 per cent. BSE 200 was up by 0.24 per cent, and BSE 500 gained 0.20 per cent. However, BSEs midcap and small cap scrips ended in the negative territory, with a loss of 0.23 per cent and 0.52 per cent. The earnings of upstream PSUs are likely to increase further only if price hike is higher than our assumption, or the upstream share of subsidy burden is reduced to 33 per cent from 40 per cent, which is unlikely. We believe any event-based rally further can be taken as an opportunity to book profit in the stocksince the reforms are not expected to bring any substantial jump in the earnings, said Vinay Nair, Analyst, Karvy Stock Broking. Keywords: Bombay Stock Exchange, Sensex, Refinery stocks, BSE, NSE, Nifty
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Sensex surges 146 points; RIL, ONGC gain Rupee weakens against U.S. Dollar Sensex declines as rate cut hope fades Sensex hits 20K-level after two years Rupee bounces back to 53 level, up 68 p against dollar www.thehindu.com/business/markets/first-time-in-two-years-sensex-closes-above-20000-mark/article4319611.ece?homepage=true&css=print
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Sensex at fresh twoyear high Reliance Industries Ltd spurts 235

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Sensex at fresh two-year high, Reliance Industries Ltd spurts 2.35% Like 0
PTI: MUMBAI, JAN 21 2013, 16:52 IST
Tags: Reliance Industries Ltd | Sensex 2-year High | RIL Shares | Strong Quarterly Earnings | Larsen And Toubro Markets News TODAY'S MARKET
BSE NSE 20101.82 6082.30 0.31 0.30
MOST READ ARTICLES Punj Lloyd unit Sembawang Australia chases Australia's Macmahon Holdings construction unit MHA clears name of Upadhyay for IG A Glass Ceiling Does Not Exist In The Service Industry Indian oncology market likely to triple in 4 years
Mumbai: Riding on a surge in RIL shares, the BSE benchmark Sensex today ended 63 points higher at 20,101.82 points to complete threedays of gains, amid positive trends in European markets. The BSE 30-share Sensex resumed higher and moved in a positive terrain of over 100 points before settling 62.78 points higher at fresh two-year high of 20,101.82. The last time the index settled at this level was on since January 6, 2011. In the previous two days, it had gained over 221 points. The broadbased S&P CNX Nifty of the NSE also improved by 17.90 points to end at 6,082.30. Brokers said firm European cues and continued capital inflows aided the sentiment, while mixed Asian cues restricted the rise in Sensex. "While the undertone remains bullish, indices appear to be consolidating...Corporate results have brought in some cheer, but the movement seems restricted to select counters only," said Amar Ambani, Head of Research, IIFL. Reliance Industries (RIL) with a spurt of 2.35 per cent was the top gainer from the Sensex pack. It alone contributed over 40 points to the index gain after the company on Friday evening announced 24 per cent jump in the October-December profit. This was the first
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The Hindu : Business / Markets : Sensex scales fresh 2-year high
Business Markets
Sensex scales fresh 2-year high

PTI
Brokers said quarter earnings posted by Reliance Industries and other companies helped boost the sentiment. File Photo
The Hindu
The BSE benchmark Sensex on Monday rose to fresh two-year high of 20, 101.82 points gaining 63 points on goody buying, particularly in RIL shares, triggered by strong quarterly earnings by corporates. Extending gains for the third straight day, the Sensex settled at 62.78 points, or 0.31 per cent, up at 20,101.82 - its highest level since January 6, 2011. In the previous two days it had gained over 221 points. The broad-based National Stock Exchange index Nifty rose by 17.90 points, or 0.30 per cent, to 6,082.30, while Nifty futures index breached 6,100-level for first time since January 6, 2011 as investor mood remained bullish. Brokers said quarter earnings posted by Reliance Industries and other companies helped boost the sentiment. RIL stocks rose by 2.35 per cent to Rs. 920.05, after surging to 52-week high of Rs. 954.80 intra-day. The company had posted 24 per cent jump in its net profits for the third quarter (October-December). Brokers said the present rally is led by oil companies whose shares are attracting goody buying in the wake of government allowing refiners to raise diesel prices. In 30-BSE index components, 17 gained while 13 ended with losses. The oil and gas and capital goods sector indices were in the limelight. BHEL shot up 2.25 per cent to Rs. 231.65 and Larsen and Toubro by 2 per cent to Rs. 1,567.25. Maruti Suzuki gained 1.87 per cent to Rs 1,574.65 ahead of their earnings later this week. The market sentiment was further bolstered on higher opening in European markets as eurozone finance ministers are meeting for the first time this year to tackle the sovereign debt crisis. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade More In: Markets | Business Comments Recommended Post a comment
Printable v ersion | Jan 2 1 , 2 01 3 9 :3 8:1 6 PM | http://www.thehindu.com /business/m arkets/sensex-scales-fresh-2 y ear-high/article4 3 2 89 6 0.ece The Hindu
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The Hindu : Business / Markets : Sensex scales fresh 2-year high
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1/22/13
Dow, S&P 500 close at 5-year highs - Jan. 22, 2013
Dow, S&P 500 close at 5-year highs

By Hibah Yousuf @CNNMoneyInvest January 22, 2013: 4:48 PM ET
NEW YORK (CNNMoney)
U.S. stocks gained ground Tuesday, with the Dow and S&P 500 closing at fresh five-year highs amid mostly strong earnings reports. The Dow Jones industrial average added 0.4% and S&P 500 rose 0.5%, advancing once again to their highest levels since December 2007. The two indexes have been hitting new highs since the start of the year. Travelers ( TRV, Fortune 500) was among the best performers on the Dow, with shares rising more than 2% after the company's fourth-quarter profit beat estimates. Shares of DuPont ( DD, Fortune 500) also rose sharply after the company reported better-than-expected earnings and issued an upbeat outlook, helping boost the blue chip index. Western Digital ( WDC, Fortune 500) was a big winner in the S&P 500. The data storage provider, which is slated to report earnings Wednesday, said it is expanding its products to to address the small and medium-sized business market. The Nasdaq edged up 0.3%, fueled by an 13% jump in shares of Research in Motion ( been gaining on the hype surrounding the launch of BlackBerry 10 later this month. RIMM). The BlackBerry maker's stock has
Dell ( DELL, Fortune 500) was also a big gainer on the tech-heavy index following reports that Microsoft ( MSFT, Fortune 500) was in talks with private equity firm Silver Lake Partners and Dell CEO Michael Dell to invest between $1 billion to $3 billion in the buyout of the PC maker, citing sources close to the matter.
Related: Microsoft buying a chunk of Dell would be smart (for Microsoft)
On the downside, Johnson & Johnson ( JNJ, Fortune 500) shares edged lower after the company reported earnings and sales that were roughly in line with estimates Verizon ( VZ, Fortune 500) reported a wider quarterly loss ahead of the open, but shares gained ground. Wireless carriers are expected to have a rough quarter as profit margins get dinged by high subsidies paid to Apple ( AAPL, Fortune 500) for the iPhone 5. After the closing bell, shares of IBM ( IBM, Fortune 500) climbed after the company topped fourth-quarter earnings and sales expectations and also issued a better-than-expected outlook for 2013. Google ( GOOG, Fortune 500) shares also rose in after-hours trading after the company delivered earnings and revenue that
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Dow, S&P 500 close at 5-year highs - Jan. 22, 2013
exceeded forecasts. Overall, S&P 500 companies are expected to report earnings growth of 3.8% for the last three months of 2012, according to S&P's Capital IQ. Earlier in the day, stocks wavered as investors focused on mixed housing data. The National Association of Realtors said existing home sales surprisingly declined in December to an annual rate of 4.94 million from the previous month. Despite the month-over-month decline however, overall existing home sales in 2012 were the highest for the U.S. real estate market in five years, according to the industry trade group.
Related: Fear & Greed Index steeped in extreme greed
European markets and Asian markets ended mixed. Japan's Nikkei ended narrowly weaker and the yen firmed slightly against the dollar after the Bank of Japan raised its inflation target and announced unlimited government bond purchases from next year. The move was widely expected and some analysts said the bank could have been even more ambitious in its bid to stimulate growth. "Today's announcements do represent a significant step forward from the BoJ," analysts at Daiwa Capital Markets wrote in a note to clients. "Even if they are not necessarily the seismic shift in policy that the economy might require." The dollar was also lower versus the euro and the British pound. Oil and gold priced edged higher. The price of the 10-year Treasury was little changed, and the yield held steady around 1.84%.
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Wall Street Builds on Five-Year Highs

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FOX Business: Capitalism Lives Here The Dow and broad S&P 500 continued climbing Tuesday after reaching their highest levels since 2007 last week as traders mulled earnings, data and central bank headlines.
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Today's Markets The Dow Jones Industrial Average climbed 62.4 points, or 0.46%, to 13712, the S&P 500 rose 6.5 points, or 0.44%, to 1493 and the Nasdaq Composite gained 8.5 points, or 0.27%, to 3143.
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American markets were closed Monday for the Martin Luther King, Jr. holiday. Last week's positive sentiment carried into the new week despite mixed data and earnings. The National Association of Realtors said sales of previously-owned homes fell 1% in December from November to a 4.94 million unit annualized rate, missing estimates of a 5.1 million unit annualized rate. The inventory of homes for sale also dropped to its lowest level in more than a decade. "While todays report was below consensus, we remain convinced that the housing recovery is well underway and should continue through 2013," Dan Greenhaus, chief global strategist at BTIG wrote
www.foxbusiness.com/markets/2013/01/22/wall-street-builds-on-five-year-highs/
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in an email. He also notes the overbuilding seen during the housing bubble could be correcting itself given the drop in inventories.
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Several major companies are up on the day. Johnson & Johnson (JNJ) posted mixed results, with adjusted profits topping Wall Street's forecast, but revenues and full-year outlook trailing expectations.
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DuPont (DD), the biggest American chemical maker, saw its earnings beat expectations on the top and bottom lines. Travelers (TRV), the blue-chip insurer, also weighed in with a beat on profits and revenues. The same can't be said for Verizon Communications (VZ), which reported a profit that widely trailed expectations, but sales that came in slightly ahead of the Street's view.
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Results from IBM (IBM) and Google (GOOG) are on tap for after the closing bell. Also on the economic front, a closely-watched report from the ZEW Institute showed German economic sentiment surging to its highest level since May 2010 in January. Germany is Europe's powerhouse economy, and has struggled to stay afloat as the eurozone debt crisis has pummeled countries it exports to. "The ZEW readings are consistent with eurozone risk having diminished while activity itself has yet to respond to the improved situation," analysts at Barclays wrote in a note to clients. Still, the investment bank warns that "too much should not be made of one months reading" since it is a volatile metric. The Bank of Japan also stepped up its fight against deflation, setting an explicit 2% inflation "target" after previously working toward a 1% inflation "goal." The move comes amid a fresh push for accommodative fiscal and monetary policy from new Prime Minister Shinzo Abe. Oil prices jumped. The benchmark contract climbed 68 cents, or 0.71%, to $96.24 a barrel. Wholesale New York Harbor gasoline rallied 1.2% to $2.83 a gallon. In metals, gold edged up by $6.20, or 0.37%, to $1,693 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.08% to 2724, the English FTSE 100 dipped 0.02% to 6179 and the German DAX slumped 0.41% to 7717. In Asia, the Japanese Nikkei 225 slipped 0.35% to 10710 and the Chinese Hang Seng rose 0.29% to 23659.
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Tech stocks push Dow, S&P to new 5-year highs - Jan. 23, 2013
Tech stocks push Dow, S&P to new 5-year highs

NEW YORK (CNNMoney)
Another round of corporate earnings lifted stocks, helping the S&P 500 and the Dow hit new 5-year highs. Better-than-expected earnings from IBM ( to drive stocks higher Wednesday. IBM, Fortune 500) and Google ( GOOG, Fortune 500) provided some of the fuel
The Dow Jones Industrial Average, the Nasdaq and the S&P 500 closed up between 0.1% and 0.5%. Stocks have been edging higher for most of January with the Dow closing higher on nine of the last 10 trading days. US Airways ( LCC, Fortune 500) added to the enthusiasm when it reported earnings Wednesday morning that beat forecasts. Shares of McDonald's ( MCD, Fortune 500) ticked up slightly even though the company warned that same-store sales could fall in January. Earnings did top estimates, however. Shares of Netflix ( NFLX) soared more than 30% in after hours trading, after the online video rental company surprised investors by reporting a fourth quarter profit.
Related: Microsoft buying a chunk of Dell would be smart (for Microsoft)
Shares of Apple ( AAPL, Fortune 500) fell nearly 5% in after hours trading to below $500. The company missed revenue estimates but beat profit expectations. Apple's stock has been under pressure recently amid concerns about waning iPhone sales. Overall, S&P 500 companies are expected to report earnings growth of 3.8% for the last three months of 2012, according to S&P's Capital IQ. Still, not all earnings reports have been positive. Luxury retailer Coach ( COH ) disappointed investors. Revenue missed forecasts, and the company said holiday sales were "challenging." Shares fell nearly 15%. Investors are also keeping an eye on the World Economic Forum in Davos, Switzerland, where business and political leaders have gathered to discuss economic issues. JPMorgan Chase ( JPM, Fortune 500) Chief Jamie Dimon, who spoke Wednesday, apologized again to shareholders for trading losses the bank suffered on credit derivatives last year, although he said "life goes on."
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Tech stocks push Dow, S&P to new 5-year highs - Jan. 23, 2013
Related: Fear & Greed Index moves deeper into extreme greed
European markets closed mixed, while Asian markets ended mostly flat, with the exception of the Nikkei, which slumped 2%. The dollar was also lower versus the yen and the British pound, but flat against the euro. Oil prices edged higher, while gold prices dropped. The price of the 10-year Treasury held steady with the yield hovering around 1.84%.
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Fueled by IBM Surge, Dow Extends Winning Streak | Fox Business


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Fueled by IBM Surge, Dow Extends Winning Streak

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FOX Business: Capitalism Lives Here The Dow closed in the green for the fourth day in a row Wednesday as shares of technology behemoth IBM roared higher. Today's Markets The Dow Jones Industrial Average climbed 67 points, or 0.49%, to 13779, the S&P 500 rose 2.2 point, or 0.15%, to 1495 and the Nasdaq Composite advanced 10.5 points, or 0.33%, to 3154.
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The markets continue on their quiet march higher, with the Dow and S&P 500 notching fresh five-year highs on Wednesday. Compared to recent standards, the move up has been fairly tame, with volatility, as tracked by the VIX, falling to its lowest levels since early 2007. Still, there were no lack of headlines to focus on.
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IBM (IBM) shares rallied on the back of its strong quarterly earnings. Its high price point means that its gains added some 60 points to the blue-chip average's overall performance. Fellow Dow components McDonald's (MCD) and United Technologies (UTX) weighed in ahead of the opening bell. The world's biggest
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Am id Fiscal Crossfire Netflix Surprises w ith 4Q Profit; Shares Surge AT&T Scoops Up Alltel Assets for $780M
burger chain unveiled a beat on profits and revenues. However, United Tech posted mixed results, beating on the bottom line, but missing slightly on the top. Apple (AAPL), the biggest publicly-traded American company by market value, posts after the closing bell. Since the Cupertino, Calif.-based iPhone maker is such a large company, big moves in its stock price often move the broader markets (especially the techheavy Nasdaq). Its stock has tumbled some 20% in the past three months amid concerns about iPhone 5 sales and cannibalization caused by its iPad Mini. It is forecast to have earned $12.8 billion, or $13.47 a share, on $54.7 billion in revenues in its fiscal first quarter. Meanwhile, the U.S. House of Representatives is set to vote around mid-day on a measure that would suspend the debt ceiling until May 19. The bill, which is expected to be passed with wide Republican support, would temporarily turn off the borrowing limit as opposed to setting an explicit spending cap. The White House has already agreed to sign off on it, and if it passed it the Senate, it would, at least for the moment, ease Wall Street's fears about a default on U.S. debt or a government shutdown. The bill also tries to force Congress to pass a budget, something that has been elusive for four years, by April 15, lest members of Congress won't be paid. Whether such a move can gain enough traction in the Democrat-controlled Senate is yet to be seen. In commodities, oil futures edged up by 7 cents, or 0.07%, to $96.75 a barrel. Wholesale New York Harbor gasoline advanced 0.55% to $2.846 a gallon. Gold ticked higher by 10 cents, or 0.01% to $1,693 a troy ounce. Foreign Markets The Euro Stoxx 50 dipped 0.31% to 2708, the English FTSE 100 rose 0.3% to 6198 and the German DAX climbed 0.15% to 7708. In Asia, the Japanese Nikkei 225 tumbled 2.1% to 10487 and the Chinese Hang Seng edged lower by 0.1% to 23635.
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The Hindu : Business / Markets : Sensex rebounds 180 points
Business Markets
Sensex rebounds 180 points

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The BSE benchmark Sensex on Friday bounced back by nearly 180 points to close at 20,103.53 on heavy buying in interest-sensitive stocks ahead of RBI credit policy on Tuesday and encouraging earnings by Maruti Suzuki. After a better start, the Sensex spurted by 179.75 points, or 0.90 per cent to end at 20,103.53 helped by rise in Tata Motors, Maruti Suzuki, SBI, L&T and HDFC Bank shares. Rate-sensitive sectors like real estate, auto, consumer durables, capital goods and banks saw good buying on hopes the central bank will cut rates by at least 0.25 per cent on January 29 to boost economic growth, brokers said. The broad-based National Stock Exchange index Nifty rose by 55.30 points, or 0.92 per cent to close at 6,074.65. Investors also took advantage of buying stocks following the previous days plunge when Sensex fell by 103 points, brokers added. Constant liquidity in the market is holding the indices in upward zone, i.e., Nifty above 6,000 and Sensex over 20,000. Also, rate cut hopes are high this time, said Rakesh Goyal, Senior Vice President, Bonanza Portfolio Ltd. Maruti Suzuki rose by 4.15 per cent, the best performer among 30-scrip Sensex, as it posted attractive earnings. Tata Motors, the owner of Jaguar Land Rover, shot up by 2.55 per cent to Rs 301.05. Among lenders, State Bank of India shot up by 2.23 per cent to Rs 2,513.25, ICICI Bank by 0.76 per cent to Rs 1,172.75, Bank of Baroda by 4.71 per cent to Rs 880.70 and Bank of India by 4.70 per cent to Rs 364.40. In realty space, DLF, Unitech India Bulls Realestate and Sobha Developers closed with gains on expectations that a rate cut would boost home loan business. Keywords: sensex, opening trade, share markets, BSE More In: Markets | Business Comments Recommended Post a comment
Printable v ersion | Jan 2 6 , 2 01 3 3 :06 :3 2 AM | http://www.thehindu.com /business/m arkets/sensex-rebounds-1 80-points/article4 3 4 3 551 .ece The Hindu
The Hindu: Home | News | Opinion | Sport | Business | Arts | Life & Style | S & T | Education | Health | Homes & Gardens | Jobs | Classifieds | Topics | The Site: | About Us | Terms of Use | Contacts | Archives | Subscriptions | RSS Feeds | Site Map Group Sites: The Hindu | Business Line | Sportstar | Frontline | Publications | eBooks | Images | Comments to: web.thehindu@thehindu.co.in Copyright 2013, The Hindu
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S&P Narrowly Posts Longest Win Streak in 6 Years; Apple Rots | Fox Business

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FOX Business: Capitalism Lives Here Even as shares of technology juggernaut Apple crumbled, the broad S&P 500 inched past its highest mark in five years and posted its longest winning streak since 2006. Today's Markets The Dow Jones Industrial Average rose 46 points, or 0.33%, to
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13825, the S&P 500 climbed 0.01 point, or 0.00%, to 1495 and the Nasdaq Composite dipped 23.3 points, or 0.74%, to 3130.
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Despite the Nasdaq's weak performance, the broad markets actually ended the day little changed. The best-performing sector by a wide margin were consumer cyclical stocks, followed by energy and industrials. Tech was the biggest laggard by far, followed by telecommunications. The S&P 500 brushed up against the 1500 mark for the first time since before the financial crisis in mid-day trading. The index hit a 12-year low in March 2009 while the U.S. was still in the throes of the crisis and has now rebounded by some 96%.
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Apple in the Spotlight All eyes were on Apple (AAPL) Wednesday afternoon as the iPhone-maker stepped up to report its fiscal-first quarter earnings. The Cupertino, Calif.-based company revealed profits that topped expectations, and narrowly avoided the first year-over-year slide in nine years. However, revenues came in short, as did its forward guidance. Overall, Wall Street was disappointed, questions swirled over whether the company could be losing its touch, and shares nose dived some 12.4%, sending the stock deeper into bear market territory. While some analysts remain bullish on the stock, the overall tone certainly turned negative. Jefferies, for example, cut its price target $300 to $500 a share, and slashed its rating from "buy" to "hold." The investment bank said in a note to clients that the "slowdown in iPhone sales is real and material" and that it worries about pressure to the company's margins. UBS, which still has Apple rated a "buy," sliced its target by another $50 to $600 a share. The company is the world's biggest on public markets by market capitalization, weighing in at close to half a trillion dollars. Big moves in its stock price weighs especially heavily on the Nasdaq. Apple isn't a Dow component, however, so the blue-chip average could hold up best to a big drop in Apple shares. Also in corporate news, 3M (MMM) posted fourth-quarter profits that matched expectations and revenues that came in above forecasts. Traders also had a batch of economic data to parse through. The Labor Department said new claims for unemployment benefits fell last week to 330,000 -- the lowest level since January 2008 -from 335,000 the week prior. Claims were expected to increase to 355,000. The four-week moving average, which smoothes out volatility, is at its lowest since March 2008 while continued claims are at their lowest since July 2008. A report from HSBC showed China's manufacturing sector growing at its fastest rate in two years. That comes as a bullish signal for the world's second-biggest economy. "Despite the still tepid external demand, the domestic-driven restocking process is likely to add steam to China's ongoing recovery in the coming months," Hongbin Qu, the bank's chief economist for China wrote in the report. Oil futures edged up. The benchmark contract climbed 72 cents, or
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0.76%, to $95.96 a barrel. Wholesale New York Harbor gasoline jumped 1% to $2.863 a gallon. In metals, gold dropped $16.80, or 1%, to $1,669 a troy ounce. Foreign Markets The Euro Stoxx 50 climbed 0.54% to 2723, the English FTSE 100 rallied 1.1% to 6265 and the German DAX rose 0.53% to 7748. In Asia, the Japanese Nikkei 225 rallied 1.3% to 10621 and the Chinese Hang Seng fell 0.15% to 23599.
Follow Adam Samson on Twitter @adamsamson.

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Up, Up and Away: S&P Hits Fresh '07 High in 8-Day Run | Fox Business

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FOX Business: Capitalism Lives Here The S&P 500 continued its steady march higher Friday, closing in the green for the eighth day in a row in its longest winning streak in more than eight years as traders cheered corporate earnings. Today's Markets According to preliminary calculations, the Dow Jones Industrial
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advanced 19.3 points, or 0.62%, to 3150. Not even Apple (AAPL) could halt Wall Street's New Year's rally. The Dow and S&P 500 are both trading at their highest levels since 2007, before the financial crisis roiled the markets. The blue-chip average is also having its best start to the year since 1987. Sentiment got another lift on Friday after Procter & Gamble (PG) unveiled quarterly earnings and sales that easily beat expectations. The blue-chip consumer products company also lifted its full-year outlook. Halliburton (HAL), one of the world's biggest oilfieldservicing companies, also posted stronger-than-expected results on
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the top and bottom lines. Still, Microsoft (MSFT) posted mixed results after the close on Thursday. Its profits beat forecasts, but sales came in slightly shy.
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Then in Europe, a closely-watched survey from the Ifo Institute showed business sentiment in Germany rising for the third month in a row in January. The data suggest that Europe's biggest economy could be picking up steam even as neighbors are still reeling from the impact of the continent's debt crisis.
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"The IFO suggests the German economy is improving more quickly than the rest of the region, and in stark contrast to the information available for other core countries such as France, where survey data for January have weakened and surprised to the downside," analysts at Nomura wrote in a note to clients. Indeed, data released Friday showed the U.K. economy contracted by 0.3% in the fourth quarter, a steeper decline than the 0.1% economists expected. Meanwhile, sales of new U.S. single-family homes fell 7.3% in December to a 369,000-unit annualized rate, less than the 385,000unit rate analysts were expecting. Oil prices ticked lower. The benchmark contract climbed 7 cents, or 0.07%, to $95.88 a barrel. Wholesale New York harbor gasoline rose 0.44% to $2.875 a gallon. In metals, gold fell $13.30, or 0.8%, to $1,657 a troy ounce. Foreign Markets The Euro Stoxx 50 climbed 0.78% to 2744, the English FTSE 100 rose 0.31% to 6228 and the German DAX rallied 1.4% to 7858. In Asia, the Japanese Nikkei 225 surged 2.9% to 10927 and the Chinese Hang Seng fell 0.08% to 23580.
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Dow, S&P 500 nearing all-time highs - Jan. 29, 2013
Dow, S&P 500 nearing all-time highs

NEW YORK (CNNMoney)
Stocks closed higher Tuesday, pushing the Dow and the S&P 500 closer to new all-time highs. The Dow Jones Industrial Average gained 0.5% to end at 13,954. The S&P 500 added 0.5%, closing at 1508. The Dow and S&P closed at all-time highs of 14,164 and 1,565 in October 2007. Tech stocks weighed on the Nasdaq, which closed flat. Home prices helped lift the S&P and Dow after a report showed home prices posted their biggest jump in 6 years, Shares of homebuilder DR Horton ( DHI) was one of the top gainers on the S&P 500, jumping more than 10% after the company more than doubled its quarterly profit. Shares of Pfizer ( PFE, Fortune 500) led the Dow's gains, following the drugmaker's better-than-expected quarterly results. Shares of rival Eli Lilly and Co ( LLY, Fortune 500) also rallied after the company beat quarterly earnings and sales forecasts. Still, consumer confidence weighed on stocks. The Conference Board's monthly Consumer Confidence Index came in far below forecasts. Ford ( F, Fortune 500) was a major drag on the broader market. The car company posted higher fourth-quarter income and sales, boosted by strong results in North America. But worse-than-expected weakness from Europe weighed on Ford's shares, which slid 5%.
Related: Apple dragging down hedge funds
Shares of Apple (
AAPL, Fortune 500)gained nearly 2%, after the company announced a new iPad with more storage. OC, Fortune 500) also got a big boost after delivering earnings and sales ahead of forecasts. EMC, Fortune 500) plunged after the company's earnings
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On the downside, shares of data storage equipment maker EMC ( outlook fell short of estimates.
Yahoo ( YHOO, Fortune 500) shares faltered, day after CEO Marissa Mayer called the company's turnaround "a multi-year march towards growth" as Yahoo posted earnings that beat expectations.
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Dow, S&P 500 nearing all-time highs - Jan. 29, 2013
Shares of VMWare ( restructuring.
VMW) dropped more than 20% after the company lowered its 2013 guidance and announced a strategic
Shares of Amazon.com ( AMZN, Fortune 500) rose after hours even though the company missed analyst forecasts and issued lowered guidance for 2013. Research in Motion ( RIMM) dropped more than 7% one day before the company plans to release a new Blackberry 10. Facebook ( FB) will release earnings after the bell Wednesday, and its stock dropped more than 5%. Shares of Groupon ( GRPN) also fell nearly 3%. Tuesday also marks the start of the Federal Reserve's first monetary policy meeting of the year. At the conclusion of the two-day meeting Wednesday afternoon, investors will look for clues from the central bank's statement for when the bond buying program could end.
Related: Fear & Greed Index hitting extreme greed
European markets closed up between 0.1% and 0.8%. Asian markets ended mixed, as Hong Kong's Hang Seng edged lower while the Shanghai Composite and Japan's Nikkei both posted gains of about 0.3%. The dollar declined versus the euro and the British pound, but gained ground against the Japanese yen. Oil prices dipped, while gold prices rose slightly. The price of the 10-year Treasury rose to 1.99%, a day after breaching the key 2% mark for the first time since April 2012.
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What's behind the bull market - Jan. 31, 2013
WHAT'S NEXT
What's behind the bull market

By Ben Rooney @CNNMoneyInvest January 31, 2013: 5:04 AM ET
NEW YORK (CNNMoney)
U.S. stocks are flirting with all-time highs, climbing to levels not seen since before the financial crisis. The Dow Jones industrial average is hovering just below 14,000. The S&P 500 recently broke above 1,500 and is inching closer to a new record. Both indexes have risen to their highest levels since October 2007. But stock prices cannot go up forever, and some analysts warn that the bull market is nearing an end, just as many individual investors are returning to the market. "The market environment is likely to get tougher in February and March as investors wrestle with the impact of fiscal tightening on the economy," said Russ Koesterich, BlackRock's global chief investment strategist. What's behind the rally There are a number of factors at play, including signs of improvement in Europe and sustained growth in China. But analysts say the Federal Reserve's stimulus moves have been the main driver. The current bull market dates back to March 2009, but the rally really gained momentum after the Fed launched its second round of quantitative easing, or QE2, in 2010. The bond-buying strategy, now in its third iteration, has coincided with a broad improvement in economic data and record profits for U.S. corporations. But the rally is as much about what did not happen as what did. The U.S. economy did not fall off the fiscal cliff, and lawmakers have delayed a showdown over the debt ceiling until mid-May. The eurozone did not collapse under the weight of its crushing debt, thanks largely to aggressive moves by the European Central Bank. And the Chinese economy appears headed for a soft landing, easing worries about demand in the world's second largest economy. "Together, these things basically assured a risk-on rally," said Quincy Krosby, market strategist with Prudential Financial.
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What's behind the bull market - Jan. 31, 2013
Related: Buy, sell or hold? What do with some of the hottest and coldest stocks
Investors were also drawn back into the market by attractive valuations, which is a fancy way of saying stocks are cheap. Since the market bottomed in 2009, many large investors have been scooping up shares of companies that were beaten down in 2008. Many bank stocks, for example, were trading well below book value, which is the theoretical price their assets are worth minus their liabilities. Bank of America ( BAC, Fortune 500) more than doubled in price last year as investors flocked to shares of companies in the financial services sector. JPMorgan Chase ( JPM, Fortune 500), Goldman Sachs ( GS, Fortune 500) and Morgan Stanley ( MS, Fortune 500) also bounced back. Is now the time for investors to jump in? The good news is that stocks still seem relatively attractive. The stocks in the S&P 500 are trading at roughly 14 times expected earnings for this year, which is reasonable. But the trends that have supported stocks up until now are changing, and investors should be prepared to play defense, said Doug Cote, chief market strategist at ING Investment Management. Cote pointed to corporate earnings, the life blood of stock returns, which are not growing as much as they had been. At the same time, the latest economic data have been mixed, including a disappointing report on fourth-quarter GDP released Wednesday. In a counter-intuitive twist, the weak GDP report could end up boosting stocks in the short term, since many investors believe it will lead to more Fed stimulus, said Krosby. Wednesday afternoon, the Fed confirmed that it will continue its bond buying program. Still, it remains to be seen how the market will fare once the central bank stops buying bonds. Meanwhile, after shunning stocks for the past few years, individual investors have started stepping back in. "People are panicking that they missed the bull market and they're going to get in come hell or high water," said Cote. "But this is not a good time, the party is starting to be over." Cote said the increased participation by individual investors is "a good thing," since they had been underexposed. But he warned that the market could be headed for a pullback. "I think this thing comes back to Earth a lot faster than it went up," he said.
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Dow Surges 5.8% in Best January Since '94 | Fox Business


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Dow Surges 5.8% in Best January Since '94

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FOX Business: Capitalism Lives Here Wall Street kicked off the new year in rally mode, with stocks roaring higher as traders cheered a temporary solution to the fiscal cliff debacle and generally upbeat corporate earnings. The Dow posted its best January on a percent basis in close to two decades. Today's Markets The Dow Jones Industrial Average fell 49.8 points, or 0.36%, to
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13861, the S&P 500 declined 3.9 points, or 0.26%, to 1498 and the Nasdaq Composite dipped 0.18 point, or 0.01%, to 3142.
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The Dow has surged 5.8% this year, while the S&P 500 has rallied 5%. It was the best start of a year since 1994 for the Dow and 1997 for the broader S&P. Both indexes are within striking distance of their record highs. However, while Wall Street has celebrated, this week's batch of economic data has been lackluster. The economy unexpectedly contracted slightly in the fourth quarter for the first time since 2009, and the Federal Reserve noted in its policy decision Wednesday that the economy had "paused" recently. Economists broadly expect the growth rate to pick up again in the current quarter, but the reports still speak to the fragility of the
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world's leading economy. At the same time, a report from payroll processor ADP showed the private sector adding considerably more jobs than expected in January. "Economic activity numbers are providing reasons for both hope and caution," analysts at Barclays wrote in a note to clients. New data released on Thursday were mixed. U.S. personal income rose 2.6% in December from November, outpacing estimates of an 0.8% gain. The increase was the largest since December 2004, with the U.S. Commerce Department attributing the rise to special dividends and bonus payments in anticipation of tax changes. U.S. consumer spending rose 0.2%, slightly shy of the 0.3% expected. The Labor Department said new claims for unemployment benefits rose to 368,000 last week from 330,000 the week prior. Claims were expected to rise to 350,000. The manufacturing sector in the U.S. Midwest picked up steam in January. The Institute for Supply-Management-Chicago's PMI gauge jumped to 55.6 from 50, easily beating expectations of 50.5. The more closely-watched national ISM report is slated for release on Friday. Also Friday, will be the all-important monthly employment report from the Labor Department. In corporate news, United Parcel Service (UPS) posted an adjusted quarterly profit that missed expectations, but the economic bellwether's revenues topped expectations. Energy futures were broadly lower. The benchmark U.S. oil contract fell 20 cents, or 0.2%, to $97.74 a barrel. Wholesale New York Harbor gasoline dipped 0.5% to $3.024 a gallon. In metals, gold dipped $8.10, or 0.49%, to $1,674 a troy ounce. Foreign Markets The Euro Stoxx 50 slumped 0.73% to 2712, the English FTSE 100 dipped 0.49% to 6293 and the German DAX slipped 0.32% to 7788. In Asia, the Japanese Nikkei 225 rose 0.22% to 11139 and the Chinese Hang Seng fell 0.39% to 23730.
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The Willis Report Quotes delayed at least 15 minutes. Real-time quotes provided by BATS Exchange. Market Data provided by Interactive Data ( Term s & Conditions ). Pow ered and Implemented by Interactive Data Managed Solutions . Company fundamental data provided by Morningstar . Earnings estimates data provided by Zacks. Mutual fund and ETF data provided by Lipper . Economic data provided by Econoday. Dow Jones & Company Terms & Conditions. This material may not be published, broadcast, rew ritten, or redistributed. 2013 FOX New s Netw ork, LLC. All rights reserved.
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Dow tops 14,000 - Feb. 1, 2013
Dow tops 14,000

By Hibah Yousuf @CNNMoneyInvest February 1, 2013: 4:28 PM ET
NEW YORK (CNNMoney)
U.S. stocks rallied Friday, with the Dow closing above 14,000 for the fist time since October 2007, as investors welcomed a batch of strong economic data. The Dow Jones industrial average jumped more than 149 points, or 1.1%, to hit 14,009.8, its highest closing level since Oct. 12, 2007. The Dow is now less than 200 points from its all-time high of 14,198.10. The S&P 500 rose 1% and is also at its highest level since 2007 -- about 4% away from its record high. The Nasdaq gained 1.2%. Despite the day's big gains, stocks ended modestly higher for the week. The Dow gained 0.8%, the S&P 500 increased 0.6% and the Nasdaq climbed 0.9%. Friday's strong advance followed reports on the job market, the manufacturing sector, construction spending and consumer sentiment, which all pointed to a healthy economic recovery.
Related: What's behind the bull market
The U.S. economy added 157,000 jobs last month, fewer than the 180,000 economists were expecting, but investors were encouraged by the government's revisions to its 2012 data. The revisions showed that the economy added 335,000 more jobs in 2012 than originally reported. "The revisions point to a fairly healthy 181,000 per month trend in 2012, which is more than strong enough over time to bring down the unemployment rate," said Jim O'Sullivan, chief U.S. economist at High Frequency Economics. In January, however, the unemployment rate ticked up slightly to 7.9% from 7.8% in December. Economists were expecting it to edge lower. The stalled unemployment rate is "giving strength to the argument that the Fed will continue its bond buying program and keep rates low, which is also a positive for the stock market," said Tom Schrader, managing director at Stifel Nicolaus. The Fed's commitment to low rates is also boosting the bond market, added Schrader. The price of the 10-year Treasury rose, pushing the yield to 1.96%, down from 1.98% late Thursday. Meanwhile, the Census Bureau said that construction spending rose 0.9% in December, which was well above expectations. The Institute for Supply Management's monthly manufacturing index rose to 53.1 in January, a sign that manufacturing sector is continuing to expand. Economists were expecting a reading of 50.5.
2/1/13
Dow tops 14,000 - Feb. 1, 2013
The University of Michigan's sentiment index rose to 73.8 in January. Economists were expecting a reading of 71.4.
Related: Fear & Greed index ticks lower, but still in extreme greed
In corporate news, Exxon Mobil ( XOM, Fortune 500) reported better-than-expected earnings and revenue, but the company's energy production levels declined. Shares rose slightly. Merck ( 2013. MRK, Fortune 500) shares declined after the company topped earnings expectations but gave a cautious outlook for
Shares of toy maker Mattel ( MAT, Fortune 500) edged higher after the company said it is raising prices globally. Mattel is making the move after it missed earnings and sales forecast for the fourth quarter, which includes the holiday shopping period. The company, which is behind brands like Hot Wheels and Fisher-Price, said sales of Barbie brand products slipped 4% last quarter. Dell ( DELL, Fortune 500) shares climbed almost 5% after a Reuters report said the PC maker is nearing a deal to go private as early as Monday. Zoetis ( ZTS), an animal-health company owned by drug giant Pfizer ( PFE, Fortune 500), raised $2.2 billion in its initial public offering late Thursday, with shares pricing at $26 each, well above the target range. Shares jumped 20% on the first day of trading. Zoetis' IPO is the largest since Facebook Inc raised $16 billion last May. Google ( GOOG, Fortune 500) shares rose more than 2%, hitting an all-time high of $776.60.
European markets ended solidly higher. Asian markets were mostly firmer, led by gains in Shanghai, which shrugged off the mixed news about China's manufacturing sector. Two separate purchasing managers' surveys on China showed manufacturing activity continued to expand in January, but painted a mixed picture on the pace of recovery. The dollar rose against the British pound and Japanese yen, but edged lower versus the euro. Oil and gold prices rose modestly.
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Dow 14000: Crucial Milestone or Just Another Number? | Fox Business


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Dow 14000: Crucial Milestone or Just Another Number?

By Matt Egan Pub lished Feb ruary 01, 2013 FOXBusiness
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Its taken nearly 2,000 days and countless migraines, but the Dow Industrials have finally recaptured the 14000 threshold. The achievement was met with muted fanfare on Wall Street and among ordinary investors amid continued evidence the real economy remains decidedly sluggish. While market bulls believe the Dow 14000 landmark will serve as another crucial catalyst to lure retail investors back into the equity
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recent optimism may be overdone. Dow 14000 definitely matters. Big numbers like that tend to be put at the top of the evening news. Those headlines do matter, said Nicholas Colas, chief market strategist at ConvergEx. Big, bold milestones can be especially helpful in reassuring nervous investors who finally appear to be dipping their toes back into the water. According to the Investment Company Institute, U.S. equity mutual funds are set for their first positive month of fund flows since April 2011. Its one of those odd ball things about human nature: people like
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confirmation, said Colas. The Return of the Retail Investor? For now, the bulls are clearly winning the tug of war. The 14000 mark came on Friday during an emphatic triple-digit rally and just hours after Wall Street put the finishing touches on a month that saw the Dow soar 756 points, or 5.77%, -- its strongest January since 1994. I think it holds some importance from a psychological standpoint. I think youre really going to see the retail investor rotate out of bond funds and into equity funds, said Luke Aucoin, chief operating officer and portfolio manager at Vista Research and Management. After an eye-popping $80 billion evaporated from U.S. equity mutual funds during the final four months of 2012 alone, ICI said just $1.5 billion left in the week ending January 2 and then investors actually poured a combined $16.1 billion into funds in the next three weeks. With interest rates remaining at zero percent, people on the sidelines are going to be concerned theyre not participating in the wealth creation thats going on, said Jason Weisberg, senior vice president at Seaport Securities. What Bad News? Interestingly, the rally on Wall Street has occurred in spite of a number of significant headwinds. For example, its ironic the Dow would clinch 14000 during the same week that new data reveal the U.S. economy unexpectedly contracted during the fourth quarter -- the first such shrinkage since the second quarter of 2009. Likewise, the Labor Department said Friday the U.S. added a mediocre 157,000 jobs in January and the unemployment rate actually ticked up to 7.9% from 7.8%. Nobody is selling the bad news. They are looking for any excuse they can find to buy the good news, said Aucoin, pointing to the new normal of unemployment above 8%. Ten years ago wed all be panicking. Stock prices also continue to climb despite the absence of Apple
- Jason Weisb erg of Seaport Securities
Market Check
"People on the sidelines are going to be concerned theyre not participating in the wealth creation thats going on.
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(AAPL), a stock that some bears feared was artificially propping up the entire market. Since topping out at $705 on September 21, Apple has plummeted a hefty 35%. During that time, the S&P 500, which gives Apple a hefty weighting of 3.6%, has actually rallied 3.6% to levels unseen in five years. If Apple starts to participate with the rest of this rally, were going to go a lot higher. No one is talking about that, said Weisberg, who holds a long position in Apple. Sell Signal? Of course, there is a risk that at some point the newfound enthusiasm for stocks can become overdone, setting up the investors who finally had the courage to jump back in for a painful correction. I think theres still some room, said Aucoin. The market is not overly expensive. Were far from being frothy, overbought and overvalued. Others believe the recent surge of equity inflows could be a bearish sign, especially since ordinary investors tend to lag behind so-called smart money. In a note to clients on Friday, Bank of America Merrill Lynch (BAC) strategist Michael Hartnett said EPFR data showing equity inflows of $18.8 billion this week triggers a sell signal from our contrarian global flow trading rule. Hartnett said the last sell signal back in January 2011 was followed by an 8% correction a few weeks later. On average, the signal precedes a 5% correction in global equities over the subsequent four to five weeks, he said. Colas said hes been concerned by the lack of volatility during the current rally, which he described as a very much a slow, grinding move higher. It seems like weve really put on the backburner or taken off the stove completely all the worries we know still exist, said Colas, pointing to the negative GDP reading and looming deficit hurdles in Washington. Middle Ground Bruce McCain, who helps manage more than $20 billion as chief investment strategist at KeyCorp.s (KEY) Key Private Bank, is also preaching caution amid Dow 14000.
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Its probably just another number but in some ways we seem to reach these thresholds when we also reach periods of very high optimism among investors, he said. While recent economic reports signal progress, McCain said they also back up the case that were not setting any land speed records for economic growth either. McCain isnt necessarily worried about a steep decline in equities and still believes the market can achieve an annual return of around 10% to 11%. With sentiment running high, investors who can afford to be a little more patient by adding equities in a measured way will be rewarded over the course of the full year, he said. This could turn into a very good year but its probably not going to do it all in February.
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The Hindu : Business / Markets : Sensex gains over 121 points in early trade
Business Markets
Published: February 4, 2013 10:04 IST | Updated: February 4, 2013 10:04 IST
Sensex gains over 121 points in early trade

PTI
The BSE benchmark Sensex gained over 121 points in early trade on Monday on emergence of buying by funds and retailers amid a firming Asian trend. The 30-share barometer gained 121.41 points, or 0.61 per cent, to 19,902.60. The index had lost almost 224 points in the previous two sessions. All sectoral indices, led by auto and banking, trading in the positive zone with a gains up to 0.90 per cent. Similarly, the wide-based National Stock Exchange index Nifty moved up by 39.60 points, or 0.66 per cent, to 6,038.50. Brokers said a firming trend in the Asian region after US stocks rose to five-year high on Friday on upbeat jobs and manufacturing data, mainly buoyed the trading sentiments. Meanwhile, in Asia, Hong Kongs Hang Seng index rose by 0.53 per cent, while Japans Nikkei up by 0.81 per cent in early trade. The US Dow Jones Industrial Average ended 1.08 per cent higher in previous session on Friday. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, opening trade
Printable v ersion | Feb 4 , 2 01 3 9 :4 7 :4 5 PM | http://www.thehindu.com /business/m arkets/sensex-gains-ov er-1 2 1 -points-in-early -trade/article4 3 7 7 3 84 .ece The Hindu
www.thehindu.com/business/markets/sensex-gains-over-121-points-in-early-trade/article4377384.ece?css=print
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S&P, Nasdaq log sixth straight weekly gain - Feb. 8, 2013
S&P, Nasdaq log sixth straight weekly gain

By Maureen Farrell @CNNMoneyInvest February 8, 2013: 4:06 PM ET
NEW YORK (CNNMoney)
Some better-than-expected earnings reports helped pushed markets higher Friday. After a somewhat bumpy week, both the Nasdaq and S&P 500 logged their sixth straight week of gains. The Dow closed down slightly after topping the 14,000 hurdle a week ago. The Dow Jones industrial average and the S&P 500 both rose between 0.3% and 0.5% Friday. The Nasdaq jumped nearly 1% as investors liked what they saw from AOL and LinkedIn. Markets have had a good run so far this year. The Dow and S&P 500 are both up nearly 7% and near their all-time highs, while the Nasdaq has gained nearly 6%. AOL ( AOL) shares surged 7%, after the web portal reported revenue growth for the first time in eight years. Fourth quarter profits were in line with expectations. Shares of LinkedIn ( LNKD) hit an all-time high, one day after the company reported a spike in membership. The online network targeted to professionals handily beat earnings and revenue estimates for the fourth quarter. Apple ( AAPL, Fortune 500) closed up 1.4% after the company said it would consider additional ways to return cash to shareholders.
Related: Einhorn to Apple: Give us more cash!
Shares of credit ratings agency Moody's ( MCO) fell 8% on worries that the government might sue the firm over its ratings of mortgage securities. Shares of Moody's and of McGraw Hill, the parent company of its rival Standard & Poor's, have dropped precipitously this week. On Friday, McGraw-Hill's ( MHP, Fortune 500) stock dropped another 3%. Coinstar's ( CSTR) stock tumbled 7%, after the company issued a weak outlook for the first quarter.
In economic news, the trade deficit shrank in December to $38.5 billion, down from $48.6 billion the previous month, according to the U.S. Department of Commerce. Wholesale inventories for December dropped 0.1% compared to expectations that those inventories would rise 0.3%. Still that
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S&P, Nasdaq log sixth straight weekly gain - Feb. 8, 2013
negative economic report did little to dampen investors' appetite for buying stocks. European markets closed up between 0.5% and 1.4%, after European Union leaders agreed on a budget deal. An EU Council spokeswoman told CNN the deal was reached after marathon meetings in Brussels, Belgium. Healthy growth in Chinese imports and exports last month also helped give global markets as lift, even as price pressures subsided.
Related: Fear & Greed Index hovers at "extreme greed"
Asian markets ended mixed. Japan's Nikkei lost 1.8%, amid worries voiced by Japanese Finance Minister Taro Aso that the yen has weakened more than the government had hoped. Hong Kong's Hang Seng added 0.2% and the Shanghai Composite increased 0.6% in the final day of trading before an extended Chinese New Year holiday. Oil and gold prices rose slightly. The yield on the 10-year Treasury note dropped slightly to 1.96%. The U.S. dollar moved slightly higher against the euro, but lost ground against the British pound and the Japanese yen.
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The Hindu : Business / Markets : Sensex jumps 100 points
Business Markets
Sensex jumps 100 points

Shrugging off poor IIP and inflation numbers, the BSE benchmark index Sensex rose by over 100 points to snap its eight-day losing streak, on value-buying in ONGC, HDFC Bank, Tata Motors and RIL scrips. The 30-share index gained 100.47 pointsto end the day at 19561.04. The broad-based National Stock Exchange index, Nifty, rose by 24.65 points to close at 5,922.50.
PTI adds:
Rupee recovers After falling to a three-week low of 54.07, the rupee wiped out losses to end stable at 53.85, snapping a fourday losing trend. MCX Stock Exchange The traded value of shares was Rs. 20.99 crore on the MCX stock exchange on Tuesday. On the equity front a total of 10,526 shares changed hands while stock futures witnessed a volume of 891 contracts. Reliance was the most active share on the equity front registering a volume of 2,951 shares. Keywords: stocks close, BSE, sensex
Printable v ersion | Feb 1 3 , 2 01 3 6 :05:57 AM | http://www.thehindu.com /business/m arkets/sensex-jum ps-1 00-points/article4 4 07 7 3 9 .ece The Hindu
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2/12/13
Dow: Less than 200 points from all-time high - Feb. 12, 2013
Dow: Less than 200 points from all-time high

NEW YORK (CNNMoney)
U.S. stocks finished mixed Tuesday, as investors digested another round of earnings reports and looked ahead to President Obama's State of the Union address in the evening. But the day's modest moves were enough to push the Dow within striking distance of its record intraday high. The Dow Jones industrial average rose 0.3% to close at 14,018.70, just 179 points, or 1.3% short of its all-time high reached in October 2007. The S&P 500 edged up 0.2%, ending at its highest level since November 2007. The broad index is 57 points, or 3.6% from its record intraday high hit in October 2007. The tech-heavy Nasdaq shed 0.2%. With stocks near their highest levels ever, investors aren't willing to place any big bets, especially amid a light economic calendar and as earnings season winds down. Year-to-date, the Dow and S&P 500 are both up nearly 7%, while the Nasdaq has gained nearly 6%. "We've had a very strong start to the year, and now investors are starting to wonder if we're due for the kind of pullback we've seen the last few years," said Micheal Sheldon, chief market strategist at RDM Financial Group.
Related: Stocks we love
On the corporate front, Avon Products ( AVP, Fortune 500) shares jumped 20%, leading the gains on the S&P 500, after the beautify and personal products company posted better-than-expected earnings. Fossil ( FOSL) shares climbed almost 3%, making it among the biggest gainers on the Nasdaq 100, after the retailer beat earnings and revenue forecasts, thanks to strong watch demand. Barclays posted a drop in profit and announced that it is cutting 3,700 jobs. Shares of the British bank spiked 9%. Shares of McGraw-Hill ( MHP, Fortune 500), the owner of rating agency Standard & Poor's, edged lower after the company reported a rise in revenue and logged quarterly earnings per share that were in line with expectations. Meanwhile, Coca-Cola ( KO, Fortune 500) declined after reporting earnings that slightly topped expectations, while Michael Kors ( KORS) shares jumped 9% after delivering results that blew past forecasts.
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Dow: Less than 200 points from all-time high - Feb. 12, 2013
Apple ( AAPL, Fortune 500) shares slipped after CEO Tim Cook slammed activist shareholder David Einhorn, calling the hedge fund manager's lawsuit asking Apple to change its plans on preferred stock a "silly sideshow." Though Cook dismissed the lawsuit, Apple is considering Einhorn's proposal.
Related: M&A making a comeback
In economic news, the Treasury Department posted a budget surplus of almost $2.9 billion for January. Economists were expecting a $2 billino deficit for the month. Later Tuesday, President Obama will deliver the first State of the Union address of his second term. He is expected to focus on the economy , jobs and the budget, while also speaking about gun control and immigration.
Fear & Greed Index still registering "extreme greed"
Overseas, G-7 finance ministers reaffirmed their commitment to have "market determined exchange rates" early Tuesday. The statement also mentioned having each countries' fiscal and monetary policy focus on domestic issues and "not target exchange rates." The statement comes amid growing concern that the economic policies of Japanese Prime Minister Sinzo Abe are aimed at spurring economic growth by driving the value of the yen lower in order to boost exports income. Japan is one of the members of the G-7. European markets finished higher, as did Asian markets. Japan's Nikkei ended up 1.9% after favorable monetary policy comments from contenders to be the next Bank of Japan governor. Meanwhile, South Korea's KOSPI reversed early gains to close down 0.3%, after North Korea conducted an underground nuclear test. International institutions and governments were quick to condemn the test, but market reaction was muted. Exchanges in Hong Kong and Shanghai were closed for the Lunar New Year holiday. The dollar was lower versus the euro and the Japanese yen, but gained ground versus the British pound. Oil and gold prices rose slightly. The price on the 10-year Treasury note declined, sending the yield up to 1.98% from 1.95% late Monday.
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Dow Outpaces Broad Markets, Reclaims 14K | Fox Business


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FOX Business: Capitalism Lives Here The Dow Industrials led the way higher Tuesday, with blue chips like Bank of America, Alcoa and Hewlett-Packard posting solid gains. Today's Markets The Dow Jones Industrial Average rose 47.5 points, or 0.34%, to 14019, the S&P 500 gained 2.4 points, or 0.16%, to 1519 and the Nasdaq Composite fell 5.5 points, or 0.17%, to 3186. Out of the Dow components Coca-Cola (KO) and Cisco (CSCO) posted the worst performance by a wide margin. Bank of America (BAC), Hewlett-Packard (HPQ), Alcoa (AA) and Home Depot (HD) performed the best.
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There was no shortage of news stories for traders across the globe to consider on the day. On the corporate front, Coca-Cola revealed adjusted quarterly profits that beat Wall Street's expectations. However, the blue-chip soda company's revenues came in shy of estimates. McGraw Hill (MHP) also posted mixed results, with profits topping expectations
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Meanwhile, Barclays (BCS) revealed plans to slice 3,700 jobs as part of a plan aimed at shaving roughly $2.6 billion a year in costs. The British investment bank is still reeling from a scandal in which it is accused of rigging Libor, a global benchmark interest rate.
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On the political front, the Group of Seven industrialized nations reaffirmed its "longstanding commitment to market determined exchange rates." Since exchange rates directly impact the competitiveness of exports, there have been fears brewing of a global currency war in which certain countries would look to devalue currencies in hopes of boosting exports. Indeed, China has long been accused of keeping its yuan undervalued. North Korea conducted a third nuclear test, igniting a hailstorm of international condemnation. Global markets, including those in Asia, shrugged the move off. "Pyongyang had been warning since mid-January that it would
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conduct such a test," Alastair Newton, an analyst at Nomura wrote to the Japanese investment bank's clients. "Markets were not, therefore, taken by surprise and appear to have been more or less unmoved by the news." Newton did warn, however, that the "latest development (is) bad news not only for stability on the Korean peninsula but also for wider regional stability." Tuesday evening, after the markets are closed, President Barack Obama will give his first State of the Union address of his second term. He is expected to discuss plans to stimulate the struggling U.S. economy as well as plans to avert sequestration. Oil futures ticked up. The benchmark U.S. contract climbed 25 cents, or 0.26%, to $97.28 a barrel. Wholesale New York Harbor gasoline gained 0.34% to $3.032 a gallon. Gold rose $1.20, or 0.07%, to $1,650 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.44% to 2634, the English FTSE 100 gained 0.4% to 6302 and the German DAX edged up by 0.02% to 7635. In Asia, the Japanese Nikkei 225 soared 1.9% to 11369. Chinese markets were closed for the Lunar New Year. Follow Adam Samson on Twitter @adamsamson
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Dow Stumbles, S&P Advances After Quiet Trading Week

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FOX Business: Capitalism Lives Here The S&P 500 narrowly posted its seventh-straight weekly advance, while the Dow stumbled, in low-volatility trading. Today's Markets The Dow Jones Industrial Average rose 8.4 points, or 0.06%, to 13982, the S&P 500 fell 1.6 points, or 0.1%, to 1520 and the Nasdaq Composite dipped 6.6 points, or 0.21%, to 3192.
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perspective, the markets have traded in a fairly tight range. The Dow fell 0.08%, the S&P 500 rose 0.12% and the Nasdaq slipped 0.06%. Meanwhile, the CBOE's VIX, which tracks implied equity volatility, is trading at 12.46 -- well below its 50 and 200-day moving averages and far from recent highs. Wal-Mart in Focus An internal e-mail, obtained by Bloomberg News, quoted a WalMart (WMT) executive as saying February sales are a "total disaster" and that the month is off to the worst start in at least seven
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years. The company issued a statement to FOX Business saying "a with any organization, we often see internal communications that are not entirely accurate, that lack the proper context and represent individual opinions. Wal-Mart is a moderately-priced Dow component, meaning it often has an outsize affect on the blue chip average's performance. It recently shed roughly 18 points from the Dow. It also threw cold water on data released earlier in the day that showed consumer sentiment ticking up. The concern is that consumers may start responding to increases in the payroll tax that took effect in January by cutting back on spending. A preliminary reading on U.S. consumer sentiment from Reuters and the University of Michigan checked in at 76.3 for February from 73.8 in January, easily topping expectations of 74.8. The markets, which were flat in earlier trading, turned more solidly positive on the news. U.S. factory output slumped by 0.1% in January from December, missing estimates of a 0.2% increase, according to a report from the Federal Reserve. Meanwhile, the New York Federal Reserve's regional manufacturing gauge rose to 10.04 in February -- its highest level since May 2012 -- from -7.78 in January. The gauge was expected to rise to -2. Readings above zero point to expansion, while those below indicate contraction. The more closely-watched survey from the Philadelphia Federal Reserve is due out next week. Currency War? A two-day summit of the Group of 20 finance and central bank chiefs representing most of the world's most powerful economies could garner even more attention than usual. One of the main issues analysts will be looking for is what the group, meeting in Moscow, will say about currency manipulation. The Japanese have been criticized for artificially pushing the yen exchange rate down in a bid to boost exports, while the Chinese have for years come under fire for keeping the yuan rate low. There have also been concerns in Europe about the euro appreciating too much and potentially hurting the competitiveness of eurozone exports. Moves in the foreign exchange market tend to have widespread consequences in commodities, equities and other asset classes. A final communiqu isn't expected until Saturday, but drafts often leak early.
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On the corporate front, billionaire investor Carl Icahn revealed a nearly 13% stake in Herbalife (HLF), the weight management and health drink company that hedge fund manager Bill Ackman has repeatedly called a pyramid scheme. The shares surged some 18% on the news. In commodities, oil prices edged lower. The benchmark U.S. contract dipped 46 cents, or 0.47%, to $96.85 a barrel. Wholesale New York Harbor gasoline rose 0.59% to $3.134 a gallon. Gold slid $7.50, or 0.73%, to $1,628 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.26% to 2628, the English FTSE 100 rose 0.04% to 6330 and the German DAX slumped 0.17% to 7618. In Asia, the Japanese Nikkei 225 sold off by 1.2% to 11174 and the Chinese Hang Seng drifted higher by 0.13% to 23445.
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The Hindu : Business / Markets : Sensex gains 33 pts on selective buying
Business Markets
Sensex gains 33 pts on selective buying

PTI
Brokers said selective buying by funds and retailers in oil and gas, realty, consumer durable, health care, metal and banking sectors mainly led the market in a better form. File Photo
PTI
The BSE benchmark Sensex on Monday closed 33 points higher as investors indulged in selective buying mainly in realty and capital goods sectors ahead of the union budget. The Sensex rose by 32.93 points, or 0.17 per cent, to close at 19,501.08. The gauge had touched the days high of 19,554.48 at the outset. The index had declined 140 points in last two sessions. Similarly, the broad-based National Stock Exchange index Nifty advanced 10.80 points, or 0.18 per cent to 5,898.20, after touching the days high of 5,911. Brokers said investors remained cautious ahead of the union budget this month-end and reduced their positions to pick fundamentally strong stocks in realty and heavy machinery sectors. They said a weak ending in Asian region and lower opening in Europe capped the gains to some extent. In 30-BSE index components, 17 stocks gained led by Reliance Industries, Larsen and Toubro, DLF Ltd, State Bank of India, Housing Development Finance Corp and Hero MotoCorp. The realty sector index gained the most by 2.08 per cent to 2,078.90 followed by capital goods by 1.18 per cent to 9,878.03. Power index rose by 1.03 per cent to 1,835.89 and metal index by 0.49 per cent to 9,952.68. Keywords: Sensex, BSE, NSE, stock market
Printable v ersion | Feb 1 8, 2 01 3 8:50:4 1 PM | http://www.thehindu.com /business/m arkets/sensex-gains-3 3 -pts-on-selectiv e-buy ing/article4 4 2 7 2 9 6 .ece The Hindu
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2/19/13
The Hindu : Business / Markets : Sensex rises 135 points; ONGC, Infosys, TCS and ICICI lead gain
Business Markets
Sensex rises 135 points; ONGC, Infosys, TCS and ICICI lead gain
PTI
A file picture of Bombay Stock Exchange in Mumbai.
The Hindu
The BSE benchmark Sensex on Tuesday closed at nearly two-week high level of 19,635 led by buying in blue-chips stocks such as ONGC, Infosys, TCS and ICICI Bank amid a firming European trend. The Sensex rose by 134.64 points, or 0.69 per cent, to 19,635.72, highest closing since February 6. Most of the gains were recorded in last 30-minute of trade. The index had gained 33 points in the previous sessions. Similarly, the broad-based National Stock Exchange index Nifty jumped up by 41.50 points, or 0.70 per cent, to 5,939.70. Brokers said a better trend in Europe, biggest consumer of Indian software and other goods, on positive signals for the economic recovery also influenced the market sentiment. The market-heavy Infosys rose by 1.53 per cent to Rs 2,819 and refinery major ONGC shot up by 4.03 per cent to Rs 330.25. The software major Tata Consultancy Services spurted by 1.25 per cent to Rs 1,442.70 while trend-setter Reliance Industries climbed 0.18 per cent to Rs 848.80. All the four stocks carry nearly 23 per cent weightage on the Sensex. The leading car maker Maruti Suzuki surged 2.19 per cent to Rs 1,512.20, Bajaj Auto by 2.36 per cent to Rs 1,997 and Tata Motors by 0.62 per cent to Rs 306.90. The realty sector index gained the most by adding 1.90 per cent to 2,118.33 followed by IT index by 1.66 per cent to 6,552.48. Healthcare index rose by 1.38 per cent to 8,009.61 and power index by 1.16 per cent to 1,857.15. In 30-BSE index components, 23 stocks rose while 8 ended with losses. Bharti Airtel lost 1.94 per cent to Rs 307.75, Coal India 1.35 per cent to Rs 338.80 and Hero MotoCorp by 1.37 per cent to Rs 1,672.65. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade
Printable v ersion | Feb 2 0, 2 01 3 7 :1 2 :3 8 AM | http://www.thehindu.com /business/m arkets/sensex-rises-1 3 5-points-ongc-infosy s-tcs-and-icici-leadgain/article4 4 3 1 6 7 9 .ece
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The Hindu : Business / Markets : Sensex rises 135 points; ONGC, Infosys, TCS and ICICI lead gain
The Hindu
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Dow and S&P close at new 5-year highs - Feb. 19, 2013
Dow and S&P close at new 5-year highs

Click chart for more market data
NEW YORK (CNNMoney)
The Dow and S&P 500 finished at new 5-year highs Tuesday, as investors grew hopeful about a potential merger between OfficeMax and Office Depot. The Dow Jones industrial average rose 0.4%, while the S&P 500 added 0.7%. The Nasdaq gained 0.7% to close at its highest level since November 2000. Investors have been pulling back a bit after a strong start to the year. All three indexes are up between 6% and 8%, with the Dow just 1.2% shy of its all-time high, hit in October 2007. The S&P 500 is less than 3% below its record high, also set in October 2007. Driving the gains Tuesday were shares of OfficeMax ( OMX, Fortune 500) and Office Depot ( ODP, Fortune 500), which both rallied after media reports said the companies were in advanced merger talks, citing unnamed sources. Staples ( SPLS , Fortune 500), the other major office supplies retailer, gained about 13%. The talks come as mergers and acquisitions have picked up. Just last week, US Airways ( LCC, Fortune 500) announced a merger with American Airlines parent AMR ( AAMRQ, Fortune 500); Warren Buffett's Berkshire Hathaway ( BRKA, Fortune 500) announced it was buying ketchup maker Heinz ( HNZ, Fortune 500); and Comcast ( CMCSA) announced a $16.7 billion deal for the 49% of NBC Universal that was still owned by General Electric ( GE, Fortune 500). Best Buy ( BBY, Fortune 500) shares gained almost 3% after the electronics retailer announced plans to make its pricematching program permanent on March 3.
Related: Google is the new Apple..for now
Shares of Google (
GOOG, Fortune 500) rose to a new all-time high of $804 per share.
After the closing bell, Dell ( DELL, Fortune 500) reported earnings and revenue that fell from a year ago but topped analyst expectations. Controversial nutritional supplements company Herbalife ( HLF) also announced better-than-expected earnings and sales figures. The company also boosted its outlook for 2013 and issued a 30 cents per share quarterly dividend. A hearing began Tuesday in David Einhorn's lawsuit against Apple ( AAPL, Fortune 500). Einhorn's hedge fund, Greenlight Capital, has accused Apple of hoarding billions in cash and wants a judge to block a "bundled" shareholder vote, scheduled for Feb. 27. Einhorn wants shareholders to vote separately on an Apple proposal that would limit the company's ability to issue
2/19/13
Dow and S&P close at new 5-year highs - Feb. 19, 2013
high-yielding preferred stock. Apple CEO Tim Cook has called the lawsuit a "silly sideshow." Tuesday's homebuilders confidence report did little to soothe investor's nerves about the wobbly economic recovery. The National Association of Home Builders' Housing Market index fell for the first time in nearly a year in February. Economists were expecting the index to edge up to a six-year high. Separate reports on housing starts and building permits will follow on Wednesday, and data on existing home sales will be released Thursday.
Related: Fear & Greed Index firmly in extreme greed
European markets finished with solid gains, lifted by a stronger-than-expected reading from the latest ZEW survey of German investor sentiment. Asian markets closed lower. The Shanghai Composite lost 1.6%, the Hang Seng declined 1% and the Nikkei dropped 0.3%.
Check gas prices in your state
Gas prices rose for the 33rd day in a row. Economists are monitoring rising gas prices to gauge whether they will take a bite out of consumer spending in February. Nationwide, a gallon of unleaded gasoline averaged $3.748 Tuesday, according to AAA. Gas prices have risen about 33 cents, or nearly 10%, since the beginning of February. Oil prices edged higher while gold prices declined. The dollar lost ground versus the euro and the Japanese yen but rose versus the British pound. The price on the 10-year Treasury fell slightly, pushing the yield up to 2.03% from 2% late Friday.
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Dow Logs Highest Close Since '07; Eyes Record | Fox Business
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FOX Business: Capitalism Lives Here The blue-chip average ended at its highest level since October 2007 Tuesday, climbing within 130 points of its all-time closing high. The broader S&P 500 also logged a five-year high, while the Nasdsaq ended at its best level in 12 years. Today's Markets The Dow Jones Industrial Average rose 53.9 points, or 0.39%, to 14036, the S&P 500 gained 11.2 points, or 0.73%, to 1531 and the Nasdaq Composite climbed 21.6 points, or 0.68%, to 3214. Every major closed in the green with the exception of materials. The energy, consumer staple and utility sectors posted the best performance. On the other end of the spectrum, material stocks struggled. While the Dow is less than 1% off its record close, the S&P still has about 2.2% to go and the Nasdaq is 36% off its dot-com era high. The recent race higher on Wall Street has been accompanied with very smooth trading. Indeed, volatility, as tracked by the CBOE's VIX, has receded to levels not seen since 2007.
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German Sentiment Data Top Expectations

13.80
-0.00
FOX50 FOX 50 INDEX GS

GOLDMAN SACHS...
+0.77%
Today
1,103.38
6:37 PM
DELL
DELL INC....
The focus early in the day was on a closely-watched survey from the Centre for European Economic Research (Zew) on German economic sentiment. The Zew gauge surged 16.7 points to 48.2 in February, easily beating estimates of 35 and marking its highest level since 2010.
+2.36%
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158.65
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MSFT
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+0.95%
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28.04
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TOL
TOLL BROTHER...
36.90
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GOOG
GOOGLE INC.
+1.76%
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806.85
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HUM
HUMANA...
73.01
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"The financial market experts have made their peace with the weak fourth quarter of 2012," Zew President Wolfgang Franz wrote in a report. "In their opinion the German economy faces less headwinds from the euro crisis than throughout the last months. If this situation remains unchanged during the next months, German business activity may pick up speed moderately." Germany is Europe's biggest economy and a major exporter. It has struggled with headwinds from the eurozone debt crisis, but has began to show signs that it is ready to rev up again this year.
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STAPLES INC....
14.65
+1.70
GOOG
GOOGLE INC....
806.85
+13.96
OMX
OFFICEMAX...
13.00
+2.25
AET
AETNA INC....
48.71
-0.49
On the corporate front, Office Depot (ODP) and OfficeMax (OMX) were said to be in advanced negotiations for a potential merger, according to multiple media reports. A combination could help the two office-supply stores rival giant Staples (SPLS). Google (GOOG) hit a fresh record high above $800 a share. Quarterly results from Dell (DELL), which has revealed plans to be taken private by its founder Michael Dell and a consortium of investors, are due after the closing bell. Microsoft (MSFT) said it now has 60 million active users on Outlook.com, the software heavyweight's online email suite designed to compete with Google's Gmail. Elsewhere, a report from the National Association of Home Builders showed sentiment unexpectedly dropping slightly in February. The group's gauge slipped to 46 from 47 the month before, missing expectations of an increase to 48. President Barack Obama also held a speech, urging Congress to pass legislation that avoids sequestration -- painful, arbitrary spending cuts due to kick in in two weeks. Goldman Sachs Chief U.S. Economist Jan Hatzius issued a note to clients over the weekend saying the investment bank believes fiscal downside risks to U.S. economic growth have "diminished;" however, so-called fiscal drag is expected to weigh throughout 2013. In commodities, oil prices drifted higher. The benchmark U.S. crude contract gained 80 cents, or 0.83%, to $96.66 a barrel. Wholesale New York Harbor gasoline fell 0.42% to $3.121 a gallon. Gold
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28.04
+0.26
ODP
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dipped $5.30, or 0.33%, to $1,604 a troy ounce. Foreign Markets The Euro Stoxx 50 rallied 1.3% to 2650, the English FTSE 100 rose 0.52% to 6352 and the German DAX jumped 1.2% to 7717. In Asia, the Japanese Nikkei 225 fell 0.31% to 11372 and the Chinese Hang Seng sold off by 1% to 23144. Follow Adam Samson on Twitter @adamsamson.
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FOX Business: Capitalism Lives Here Wall Street posted big gains on Friday on strong German data and bargain shopping. However, the broad S&P 500 closed with a weekly loss for the first time this year. Today's Markets
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The Dow Jones Industrial Average rallied 120 points, or 0.86%, to 1401, the S&P 500 climbed 13.2 points, or 0.88%, to 1516 and the Nasdaq Composite jumped 30.3 points, or 0.97%, to 3162. Every major sector was in the green on Friday, led by materials, technology and financials. Traditional defensive plays like telecommunications and consumer staples posted slimmer gains. Still, the S&P 500 fell 0.28% for the week. The narrower Dow rose 0.14%, while the tech-heavy Nasdaq shed 0.95%. A closely-watched survey on the outlook of German businesses from the Ifo Institute calmed investors' nerves. The Ifo gauge soared by 3.1 points to 107.4 in February from January -- the swiftest increase since July 2010.
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Hans-Werner Sinn, the organization's president, said German companies are more satisfied with current conditions and also more optimistic on the future outlook. He said Europe's biggest economy is "regaining momentum." Thomas Harjes, an economist at Barclays, echoed that view, saying, "the recent surveys add to growing signs that the German economy has turned the corner after a sharp externally-driven contraction at the end of last year and that a strong rebound should be under way." Still, the broader European economy is continuing to struggle. In its winter forecast, the European Commission said the eurozone economy is likely to contract by 0.3% in 2013, compared to a November forecast of 0.1% expansion. Also on the European front, analysts will be paying close attention to elections in Italy that start this weekend. The country, the eurozone's No. 3 economy, has come into focus because of its high debt levels and weak economy. "We expect the pro-Europe, pro-austerity mainstream will secure an electoral victory, but the new government's will and capacity for reform will be constrained by growing popular resistance to austerity and resistance from both right and left in parliament," Citigroup analyst Tina Fordham wrote in a note to clients. The government has had difficulty balancing the need to spur growth with debt-cutting measures, which has sometimes caused big fluctuations in the market for Italian debt. There are no major U.S. economic reports and few earnings reports on Friday's calendar. In commodities, oil futures rebounded after tumbling two a fresh 2013 low on Thursday. The benchmark U.S. contract rose 29 cents, or 0.31%, to $93.13 a barrel. Wholesale New York Harbor gasoline rallied 1.4% to $3.08 a gallon. Gold fell $5.80, or 0.37%, to $1,573 a troy ounce. Foreign Markets The Euro Stoxx 50 jumped 1.6% to 2620, S&P 500 climbed 0.81% to 6342 and the German DAX rallied 1.1% to 7665. In Asia, the Japanese Nikkei 225 rose 0.68% to 11386 and the Chinese Hang Seng dipped 0.54% to 22782.
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Stocks close higher on Fed speak - Feb. 26, 2013
Stocks close higher on Fed speak

By Maureen Farrell @CNNMoneyInvest February 26, 2013: 4:35 PM ET
NEW YORK (CNNMoney)
Stocks closed solidly higher Tuesday after Fed chairman Ben Bernanke gave investors reason to believe that the central bank would continue to do its part to help the economy. "Economic activity in the United States has continued to expand at a moderate, if somewhat uneven pace," he said, explaining why the Fed's bond buying program should continue. Bernanke's promise of continued aid, coupled with positive economic data and robust corporate earnings, helped the Dow Jones Industrial Average, the S&P 500 and the Nasdaq end the day up between 0.4% and 0.8%. Gold prices also rallied, rising nearly 2% in the biggest one-day jump this year. "Gold looks good today on Bernanke's reassurance of continued monetary accommodation," Jeffrey Nichols, a managing director at American Precious Metals Advisors wrote in a note to investors. The S&P Case-Shiller index for the fourth quarter showed home prices jumped 7.3%, the third straight quarter of year-overyear gains. New home sales also jumped more than 15% in January, the sharpest monthly increase since July 2008. Home improvement retailer Home Depot ( HD, Fortune 500) reported strong year-end results, providing more evidence of a housing rebound. The company reported a 7% gain in same-store sales for the fourth quarter. Consumer confidence also increased in February. The Conference Board's index showed that confidence jumped to 69.0 from 58.6 in January. Shares of department store chain Macy's ( M, Fortune 500) rose after the company reported a 20% increase in fourth quarter profits and a 3.7% increase in sales at stores open for more than one year. Shares of Best Buy ( BBY, Fortune 500) dropped more than 3% after the troubled electronic retailer announced that it would cut 400 jobs at its headquarters as part of a plan to slash $150 million in expenses. JPMorgan Chase ( JPM, Fortune 500) announced plans to cut costs at the bank. At the bank's annual investors day, CEO Jamie Dimon said he plans to cut 4,000 positions in 2013 as part of the bank's plan to save $1 billion this year. Shares of Priceline ( profit forecasts. PCLN) spiked after the bell following the company's fourth quarter results. The online travel site beat
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Stocks close higher on Fed speak - Feb. 26, 2013
First Solar (
FSLR)'s stock plunged in after hours trading, after the solar company's revenues missed expectations.
Related: Italy's election mess won't knock out Europe
On Tuesday, Italian politics took a backseat after dominating investor sentiment Monday. An Italian election that failed to produce a clear winner whipsawed U.S. stocks late Monday, with the Dow and S&P 500 suffering their biggest one-day declines of the year. Election results released by the Italian government late Monday showed a narrow victory for the center-left coalition headed by Pier Luigi Bersani in the lower house of parliament. But former Prime Minister Silvio Berlusconi and other anti-austerity parties were not far behind, and the results pointed to gridlock in the Italian Senate.
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European markets ended the day down between 1.3% and 2.7%, following Asian markets, which also closed lower. The Hang Seng in Hong Kong fell 1.3%, while the Nikkei in Tokyo dropped 2.3% and the Shanghai Composite lost 1.4%. Oil prices dipped. The U.S. dollar fell versus the Japanese yen but gained against the euro and the British pound. The yield on the 10-year Treasury note edged lower to 1.87%, from 1.97% previously.
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FOX Business: Capitalism Lives Here Rebounding from the worst selloff since November, the markets posted solid gains on Tuesday as traders cheered strong economic data. The Dow outpaced the broad markets on the back of rallying
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Home Depot shares. Today's Markets According to preliminary calculations, the Dow Jones Industrial Average rose 116 points, or 0.84%, to 13900, the S&P 500 climbed
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9.1 points, or 0.61%, to 1497 and the Nasdaq Composite gained 13.4 points, or 0.43%, to 3130. The markets received several pieces of strong economic data on Tuesday, helping to ease concerns about the global economy. Every sector ended the day in the green, led by materials stocks.Home Depot (HD) posted quarterly results that topped expectations on the top and bottom lines. Shares of the Dow component surged more than 5.7%, adding 28 points to the blue-chip averages final tally. Strong Data Lift the Street's Sentiment
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Sales of new single-family homes jumped 15.6% in January from December -- the largest increase since April 1993 -- to a 437,000unit annualized rate. The metric outpaced estimates of a 381,000unit rate and marked the highest pace since July 2008. The S&P/Case-Shiller composite index of 20 metropolitan areas shows home prices rose 0.2% on a non-seasonally adjusted basis in December, compared with the 0.2% fall economists were expecting. Prices were up 6.8% from a year ago, the biggest yearon-year increase since July 2006. The Conference Board's gauge of U.S. consumer confidence rose to 69.6 in February from January, topping economists' estimates of 61 and marking the highest reading since November. "An increase in consumer mood will help chain store sales in the coming months," Chris Christopher, head of consumer economics at IHS Global Insight wrote in a research note. "However, raising gasoline prices and the sequester are on many households' radar screens." Also on the economic front, Federal Reserve Chairman Ben Bernanke told Congress the benefits of highly-accommodative monetary policy clearly outweigh the potential risks, helping temper worries the Fed could end quantitative easing early. "In the current economic environment, the benefits of asset purchases, and of policy accommodation more generally, are clear," he said. Peter Newland, and economist at Barclays, said in a note to clients that Bernanke's testimony suggests the Fed is still mulling over the risks of quantitative easing, but still judges it as valuable in the current economic climate. Bernanke also said the job market remains weak, although the economic recovery appears to have picked up again early this year after taking a hit in the final quarter of 2012. Italy Worries Still Present After months on the back burner, European worries came hurdling back into the picture Monday after elections in Italy ended in a stalemate. The country's Senate now stands divided -- not a single party controls the upper house. That means multiple parties will have to come together and form a coalition government, or a fresh round of elections may need to be called. More importantly, perhaps, the sudden lurch higher in political instability threatens to once again ignite concerns about the
CME Group Chairman Emeritus on Gold, Currencies

Tyson Foods 'Confident' Despite Pressures on Beef, Pork Rich, Poor Consum ers Hit by Clashing Forces
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embattled 17-member currency bloc. Tina Fordham, an analyst covering the subject for Citigroup, called the election the "pivotal political event" for the eurozone this year, and warned that the result "extends political risk." The broad S&P 500 took its biggest fall since November on the news Monday, while European markets have come under heavy pressure. Of particular concern is Italian and Spanish borrowing costs -- both of which have spiked in the secondary markets. "We expect risky assets to remain under pressure until the picture in Italy becomes clearer," analysts at Barclays warned in a note to clients. The investment bank said safe havens like U.S. Treasury bonds, German bunds and the dollar should benefit. Oil futures were under pressure on the back of weakness in European markets. The benchmark U.S. contract dropped 71 cents, or 0.76%, to $92.40 a barrel. Wholesale New York Harbor gasoline sold off by 1.9% to $3.00 a gallon. In metals, gold rose $7.10, or 0.45%, to $1,594 a troy ounce. Foreign Markets The Euro Stoxx 50 plummeted 2.5% to 2586, the English FTSE 100 sold off by 1.3% to 6273 and the German DAX tumbled 1.8% to 7637. In Asia, the Japanese Nikkei 225 plunged 2.3% to 11399 and the Chinese Hang Seng dropped 1.3% to 22520.
Eurozone Econom y Forecast to Shrink in 2013 The Truth Behind Our Entitlem ent Culture Pessim ist, Optim ist and Opportunist Walk Into a Bar Rich, Poor Consum ers Hit by Clashing Forces High Crude Oil Prices Could Be Heading For A Reset Is Gold's Correction Just the Beginning?
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The Hindu : Business / Markets : Sensex jumps 137 points on growth outlook
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Sensex jumps 137 points on growth outlook

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The BSE benchmark Sensex on Wednesday rose by 137 points on good buying support after the Economic Survey 2012-13 projected 6.1 to 6.7 per cent growth in the next financial year and made a strong call for reducing subsidy level. The Sensex gained 137.27 points, or 0.72 per cent, to close at 19,152.41 led by stocks of capital goods, realty and refinery sectors. The index had plunged to three months low by dropping 317 points in the previous session. The gauge had touched a high of 19, 213.02 and a low of 18, 997.82 during the session. Similarly, the National Stock Exchange index Nifty rose by 35.55 points, or 0.62 per cent, to 5, 796.90, after touching the days high of 5, 818.20. Brokers said besides the Economic Surveys projections of a higher growth rate next fiscal, expectations of some sops in the general budget on Thursday kept the investors cheerful. While pegging the GDP growth at an estimated 5 per cent for the current fiscal, the Survey tabled in Parliament by Finance Minister P. Chidambaram said the overall economy is expected to grow in the range of 6.1 to 6.7 per cent in 2013-14 as the economy is looking up. The upsurge was further supported by firming trend in the Asian region after the US Fed affirmation of its commitment to monetary stimulus, traders said. The blue-chip stocks, which had plunged in the previous session led by Reliance Industries and Larsen and Toubro, rebounded on value buying a day before the general budget. RIL gained 0.88 per ent to Rs. 831.20 and L&T rose by 3.16 per cent to Rs. 1,410.45. In 30-BSE index components 22 stocks gained led by Bharti Airtel, Mahindra and Mahindra, ONDC, ICICI Bank, BHEL, Bajaj Auto and Sterlite Industries recording gains up to three per cent. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade, Economic Survey 2013
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Dow rallies to new 5-year high - Feb. 27, 2013
Dow rallies to new 5-year high

By Ben Rooney @CNNMoneyInvest February 27, 2013: 4:19 PM ET
NEW YORK (CNNMoney)
A rally on Wall Street gained momentum late Wednesday as investors welcomed more upbeat housing data and a second day of dovish testimony from the chairman of the Federal Reserve. The Dow Jones industrial average rallied 175 points, or 1.2%, to end at its highest level since October 2007. The S&P 500 jumped 1.3% and the Nasdaq gained 1%. Traders said the rally was a continuation of Tuesday's advance, which came after Fed chairman Ben Bernanke signaled to lawmakers that the central bank's easy money policies would remain in force. Bernanke reiterated his argument Wednesday that the Fed's bond-buying program, known as QE, has helped the economy. "There's nothing specific to cite," said Dan Greenhaus, market strategist at BTIG in New York. "But if you had to pin it to something, it would be Bernanke saying QE will continue in an environment of improving economic data." Stocks have been pulling back lately, after a strong start to the year. All three indexes are still up between 6% to 7% so far this year. Investors also cheered further signs of strength in the housing market. A realtors group said Wednesday that pending home sales rose in January to the highest level since April 2010. The pending home sales data came one day after reports on home prices and sales came in better than expected. Homebuilder stocks rallied Wednesday, with shares of Hovnanian ( DR Horton ( DHI) and Lennar ( LEN). HOV) jumping 5%, leading rivals Toll Brothers ( TOL),
The housing data overshadowed a mixed report on new orders for long-lasting goods. The U.S. Census Bureau said durable goods orders dropped $11.8 billion, or 5.2%, in January. This was a steeper decline that the decrease of 3.5% projected by economists. However, excluding transportation, new orders would have increased 1.9%.
Related: Defense stocks in crosshairs
Overall, the durable goods data were "far better than the headline decline suggests," said Paul Ashworth, chief U.S. economist at Capital Economics.
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Dow rallies to new 5-year high - Feb. 27, 2013
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Investors were also encouraged by a successful auction of 6.5 billion in Italian government bonds. Wednesday's bond That helped push European markets higher. Italy has been a concern for investors since elections over the weekend raised concerns about the government's commitment to economic reforms.
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Shares of Groupon ( GRPN) plunged more than 20% after the online coupon site widely missed forecasts and said sales in the current quarter would fall short of estimates. Investors were also keeping tabs on Apple's (APPL) annual shareholders meeting. Apple shareholders did not vote on a controversial proposal that would have limited the company's ability to issue preferred stock. Hedge fund manager David Einhorn, who had launched an activist campaign to unlock some of Apple's $137 billion cash hoard. Apple will put that to a vote at a later date.
Related: Fear & Greed Index smack in the middle of greed
Shares of Priceline ( First Solar (
PCLN) rose after the online travel site beat profit forecasts.
FSLR) shares sank after the renewable energy firm missed sales forecasts.
Shares of Dollar Tree ( DLTR, Fortune 500) jumped after the discount retailer said it earned $1.01 per share on sales of $2.25 billion in the fourth quarter. Gun maker Sturm Ruger ( others. RGR) will report results after the closing bell, along with J.C. Penney ( JCP, Fortune 500), among
Asian markets ended mixed. Japan's Nikkei lost 1.3%, while the Shanghai Composite added 0.9% and Hong Kong's Hang Seng increased 0.2%. Oil prices edged higher while gold prices slipped. The dollar fell versus the euro and the pound, but gained against the yen. The yield on the 10-year Treasury note rose to 1.9% from 1.88%.
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FOX Business: Capitalism Lives Here The markets raced higher Wednesday in a broad advance amid optimism uncertainty in Italy won't tip Europe back into crisis mode. The Dow tacked on 175 points in its second triple-digit rally in a row -hitting its highest level since October 2007. Today's Markets The Dow Jones Industrial Average surged 175 points, or 1.3%, to 14076, the S&P 500 gained 19.1 points, or 1.3%, to 1516 and the Nasdaq Composite rose 32.6 points, or 1%, to 3162. Every major sector ended in the green, led by industrial, materials and consumer discretionary stocks. Traditional defensive stocks, like utilities, consumer staples and telecommunications, came out of favor. Still, traders continued bidding up U.S. Treasury bonds. European Worries Cool The upbeat sentiment Wednesday began in European markets, where Italy held a successful bond auction. Rome sold $5.2 billion in 10-year debt, meeting its target. However, the yield jumped to 4.83% -
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Whats Next for Italy?
Analysts at Barclays wrote in a note to clients that the debt sale should "reassured the markets for now." Still, the bank warns that downside risks to European risky assets -- like equities -- remains.
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Dan Greenhaus, chief global strategist at market-maker BTIG, said clients have grown fatigued of the big euro-fueled swings that have happened in recent years. He said that while traders are still concerned about events in countries like Italy, unless the situation reaches a boiling point, they "go about their day."
Bernanke Faces Two Days of Intense Questioning
Housing Data Top Expectations; Goods Orders Mixed On the U.S. front, the Commerce Department said orders for longlasting goods fell 5.2% in January from December, a bigger slide than the 4.4% expected. Excluding the transportation segment, durable goods orders rose 1.9%, a much larger jump than the 0.2% expected and the biggest increase since December 2011. "Say what you will about government dysfunction, the sequester, the fiscal cliff and the budget debate but the fact remains that capital spending appears to be holding up very well," Dan Greenhaus, chief global strategist at BTIG wrote in an email. "In fact, it appears to be accelerating." The National Associate of Realtors reported U.S. pending home sales rose 4.5% in January from December, outpacing the 1.5% gain expected, according to the National Association of Realtors. Fed chief Bernanke testified before the U.S. House of Representatives as well. He once again reiterated his dovish stance, helping renew hopes the central bank will keep up its asset buying program past the middle of the year. In commodities, oil prices inched higher. The benchmark U.S. contract gained 23 cents, or 0.21%, to $92.84 a barrel. Wholesale New York Harbor gasoline climbed 0.32% to $2.991 a gallon. Gold dropped $9.30, or 0.58%, to $1,606 a troy ounce.
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In corporate news, Apple (AAPL) is set to hold an investor meeting on the day. Speculation the world's biggest technology company might unveil a stock split pushed shares higher in the previous session. Foreign Markets The Euro Stoxx 50 gained 0.52% to 2583, the English FTSE 100 rose 0.26% to 6288 and the German DAX climbed 0.26% to 7617. In Asia, the Japanese Nikkei 225 dropped 1.3% to 11253 and the Chinese Hang Seng inched up 0.25% to 22577.
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FOX Business: Capitalism Lives Here The markets posted tepid gains Friday, ending the week in the green, after a batch of strong data on the U.S. economy helped traders overcome worries about Europe.
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points, or 0.3%, to 3170. For the week, the Dow climbed 0.64%, the S&P 500 gained 0.18% and the Nasdaq rose 0.25%. The markets all ended February higher, with the S&P posting its fourth-straight monthly advance.
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On Friday, the Dow tumbled as much as 116 points in early action, before coming back to the flat line and then finally rising. In recent trading, seven of ten major sectors were still in the greeb. Health-care and consumer discretionary shares performed the best, while utility and energy stocks broadly declined. Strong Data Help Offset Euro Worries A round of generally strong data helped lift sentiment. The Institute for Supply Management Manufacturing PMI gauge rose to 54.2 in February from 53.1 in January, topping estimates of a reading of 52.5. Readings above 50 point to expansion while those below indicate contraction. A separate report from Reuters and the University of Michigan showed consumer sentiment unexpectedly rising in late February. The closely-watched measure climbed to 77.6 from an earlier reading of 76.3, beating expectations of no change. A report from the Labor Department showed consumer incomes plunging 3.6% in January from December -- the biggest drop since 1993 and worst than estimates of a 2.2% decline. However, personal spending edged up 0.2%, which was in-line with expectations. January was the first month across-the-board increases in payroll taxes kicked in. Indeed, analysts chalked up the big drop in income to special factors, including the tax hikes, and accelerated dividends in December. However, economists at Nomura warned that February could be another tough month for personal incomes, with consumers still adjusting to lower income from the payroll tax hike and surging gasoline prices. European Worries Persist The euro slumped 0.47% to $1.2996 -- its weakest level against the greenback in two months. Meanwhile, the Euro Stoxx 50, which tracks eurozone blue chips, slumped 0.64%. The move lower in Europe came as traders parsed through a deluge of weak data from the continent. The unemployment rate in the eurozone edged up 0.1-percentage point to 11.9% in February, with 19 million people out of work across the 17-member currency bloc. The report also highlights the wide gaps between the economies there. Germany, the bloc's powerhouse, has an unemployment rate around 5%, but Spain and Greece are more than five times that.
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A report indicating the U.K. manufacturing sector unexpectedly skidded back into contraction territory in February also left traders jittery. Oftentimes, sharp moves lower in the euro puts downward pressure on dollar-traded commodities. The benchmark U.S. oil contract dropped $1.37, or 1.5%, to $90.68 a barrel. Wholesale New York Harbor gasoline rose 0.54% to $3.129 a gallon. In metals, gold fell $5.80, or 0.37%, to $1,572 a troy ounce. On the corporate front, Best Buy (BBY) posted better-than-expected quarterly results, sending shares zooming higher. The big retailer also said it ended talks with its founder over a potential take-private deal. Groupon (GRPN) revealed after the close of trading Thursday that it had dismissed its chief executive, Andrew Mason. Foreign Markets The Euro Stoxx 50 fell 0.64% to 2617, the English FTSE 100 rose 0.28% to 6379 and the German DAX dipped 0.43% to 7708. In Asia, the Japanese Nikkei 225 ticked up by 0.41% to 11606 and the Chinese Hang Seng fell 0.61% to 22880.
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The blue-chip average shook off early losses and turned positive Monday, leaving it less than 40 points shy of its all-time closing high. Today's Markets
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The Dow Jones Industrial Average rose 38.2 points, or 0.27%, to 14128, the S&P 500 gained 7 points, or 0.46%, to 1525 and the Nasdaq Composite climbed 12.3 points, or 0.39%, to 3182.
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a gallon. Gold slipped was essentially unchanged at $1,572 a troy ounce.
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HSBC (HBS) posted annual earnings of $20.6 billion for 2012, falling short of the Street's forecast of $22.7 billion. HSBC is Europe's biggest bank, meaning the miss weighed on shares across the continent. The euro also fell 0.21% to $1.2995. There was also ongoing political instability in the eurozone. Italy was still without a viable government after elections last week ended in a deadlock. Meanwhile, the Eurogroup was set to meet in Brussels to discuss several issues, including a potential bailout of Cyprus, a small, but highly-indebted nation. The U.S. economic data docket is bare on the day. Federal Reserve Vice Chairman Janet Yellen gave a speech in which she defended the central banks highly-aggressive monetary policy. She cited the still fragile labor market and tame inflation expectations as her rationale. However, a worrisome report from China kept global growth fears alive. The expansion in the country's services sector cooled down to its lowest level in five months in February. China is the world's second-biggest economy, and there have been fears for months that it would be in for a so-called hard landing in which growth abruptly drops. As the week progresses, though, there will be several important economic reports released, focusing on the labor market. The private payroll report from ADP is out on Wednesday, followed by the allimportant February jobs report on Friday. Traders will also get the latest trade figures on Thursday, which figure directly into broader economic measures. In other corporate news, Hess (HES) unveiled a $4 billion share buyback authorization and said it will exit its downstream business fully. As part of the move, it will exit the retail business, energy trading and energy marketing. Foreign Markets The Euro Stoxx 50 dipped 0.29% to 2609, the English FTSE 100 fell 0.56% to 6343 and the German DAX slumped 0.54% to 7665. In Asia, the Japanese Nikkei 225 rose 0.4% to 11652 and the Chinese Hang Seng sold off by 1.5% to 22538.
$12K in Checking? Youre Lem on-ing Oil Skids Below $90 for First Tim e Since Decem ber Union Criticizes Hostess Bidder for Failing to Prom ise Jobs
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Metro billionaire founder Otto Beisheim com m its suicide Oil Settles Low er, But Stays Above $90 Gold Slides to Six-Month Low Below $1,600
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Sensex gains 265 points on rate cut hopes - The Hindu
Business Markets
Published: March 5, 2013 16:39 IST | Updated: March 5, 2013 16:39 IST
Sensex gains 265 points on rate cut hopes

PTI
The Hindu
The BSE benchmark Sensex on Tuesday regained 19,000 level by surging the most in three months led by buying on hopes of more measures to boost economic growth and interest rate cut amid a rally in global markets. The Sensex spurted by 265.21 points, or 1.40 per cent to close at 19,143.17, recording its biggest single day gain since November 29. Similarly, the broad-based National Stock Exchange index Nifty shot up by 85.75 points, or 1.50 per cent, to 5,784.25 led by stocks of Reliance Industries, Infosys and State Bank of India. Brokers said the market remained bullish after Finance Minister P Chidambaram said that the government will soon announce more measures to boost economic growth. Banking and interest-sensitive stocks were on the fore-front on expectations of interest rate cut by the Reserve Bank of India in its policy review this month, they said. Rate-sensitive sectors like Banking and Realty rebounded from lower levels on expectations of probable rate cut by RBI this month, said Rakesh Goyal, Sr Vice President, Bonanza Portfolio Ltd. Trading sentiment further bolstered as Asian stocks surge and European stocks rose to over fouryear high amid speculation that central banks around the world will continue with measures to support economic recovery. In 30-BSE index components, 25 stocks advanced while five closed lower. The realty sector index gained the most by 3.13 per cent 1,947.03 followed by metal index by 2.65 per cent to 9,128.59. Banking index rose by 1.89 per cent to 13,528.53 and auto index by 1.78 per cent to 10,720.39. The market heavy Reliance Industries shot up by 1.69 per cent to Rs 826.30 after Morgan Stanley upgraded its rating on the stock. The second heavy Infosys rose by 0.62 per cent to Rs 2.920.95, while ICICI Bank spurted by 3.36 per cent to Rs 1,093.80. The three stocks carry nearly 20 per cent weightage on the Sensex.
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Sensex gains 265 points on rate cut hopes - The Hindu
Keywords: BSE, Rate cut, RBI, Stocks

Printable v ersion | Mar 5, 2 01 3 8:2 8:01 PM | http://www.thehindu.com /business/m arkets/sensex-gains-2 6 5-points-on-rate-cut-hopes/article4 4 7 86 1 8.ece The Hindu
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Dow closes at record high - Mar. 5, 2013
Dow closes at record high

By Hibah Yousuf @CNNMoneyInvest March 5, 2013: 4:29 PM ET
NEW YORK (CNNMoney)
The Dow Jones industrial average rallied to a new record high Tuesday. The Dow climbed more than 125 points to close at a record high of 14,253.77, topping the prior record set in October 2007. Earlier, the blue chip index climbed to an intraday record of 14,286.37. The S&P 500 added 15 points and finished at its highest level since October 2007 and is now only about 2% away from its record closing high. "We're back to the highest levels in history, but we've got more things going for the economy and the market than we did last time," said Art Hogan, managing director at Lazard Capital. Back in 2007, the economy was on the verge of winding down and heading into a tailspin, he said, whereas now it's continuing to improve, albeit slowly.
Related: Dow record? Who cares? Economy still stinks!
Stocks are also cheaper now. They were trading at 17 times earnings estimates in 2007. Currently, stocks are valued at about 14 times earnings estimates for 2013. Plus, both consumers and businesses have more cash and less debt, said Hogan. Still, not all stocks are at record highs. The Nasdaq, which rose more than 42 points Tuesday, is nearly 40% below its all-time highs that were set in March 2000, prior to the collapse of the dotcom bubble. The Nasdaq is trading at its highest level since November 2000 though.
Related: Fear & Greed index firmly in greed
While Hogan expects stocks will continue to head higher, there are likely to be some bumps along the way. It's possible that investors will take a break from buying, he said, adding that with the Dow up 9% year-to-date, it wouldn't be abnormal to see stocks move sideways or decline. Concerns over Europe, particularly the Italian elections, and the ongoing budget drama in Washington, could serve as catalysts for a brief slide. But a pullback could also be healthy and short-lived. Hogan noted that recent moves downward have been met with more
3/5/13
buyers. "There's a lot of money on the sidelines waiting to get involved in the market, but those investors feel like after the recent move up, they need a pullback before they get in," he said. To that end, individual investors have put just $21 billion to U.S. stock mutual funds this year, a relatively small amount given that they pulled more than $500 billion out from stock funds since the financial crisis.
Related: The myth of the Great Rotation
Moreover, as long as central banks around the world continue to support the global economy and financial markets, the bull run that began when the market bottomed in March 2009 is likely to keep going, said Hogan. "Supportive monetary policy is going to be with us for a while," he said. "Central banks, including the Federal Reserve, have made it clear that they won't tighten their policies until economies are self-sustaining, with higher employment and low inflation." Later this week, central banks in Europe, Japan and the U.K. are scheduled to meet. All of them are expected to give more promises of support the for world's major economies. On the economic front Tuesday, the Institute for Supply Management's monthly index on service sector business activity rose to 56 in February, a slight improvement from 55.2 the prior month. Economists were forecasting a reading of 55.4. In corporate news, JC Penney's ( JCP, Fortune 500) shares tumbled more than 10% after Vornado Realty Trust, one of the retailer's biggest shareholders, reportedly dumped 40% of its stake. The struggling retailer is in the third week of a court battle with Macy's ( M, Fortune 500) claims that Martha Stewart Living Omnimedia ( MSO) violated a previous agreement with Macy's in entering into a new partnership with J.C. Penney. Genworth Financial Inc. ( GNW, Fortune 500) shares rose on rumors that the company is planning a sale.
Apple ( AAPL, Fortune 500), which hit a new 52-week low on Monday, enjoyed a bounce with the broader market. Shares rose more than 2% Tuesday, but the stock is still down nearly 20% this year. Meanwhile, Google ( GOOG, Fortune 500) closed at a new record high. After the market close, gun maker Smith & Wesson Holding Co ( SWHC) said its earnings more than tripled in the most recent quarter. The nation's second-biggest publicly traded gun company also raised its outlook for gun sales this year, sending shares higher in after-hours trading. Gun sales have surged in recent months amid speculation about new gun control laws. European markets ended higher, while Asian markets also ended with gains after Chinese Premier Wen Jiabao announced the government will carry a larger deficit in 2013 to help the world's No. 2 economy reach its goal of 7.5% growth this year. The dollar fell against the euro, the British pound and the Japanese yen. Oil and gold prices edged higher. The price on the 10-year Treasury declined, pushing the yield up to 1.90% from 1.88% late Monday.
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Dow Smashes All-Time High as World Economy Perks Up | Fox Business


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FOX Business: Capitalism Lives Here The Dow shattered the record high it set in October 2007 Tuesday in the latest sign Wall Street is putting the worst financial crisis since the Great Depression behind it. Today's Markets
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The Dow Jones Industrial Average climbed 126 points, or 0.89%, to 14254, the S&P 500 gained 14.6 points, or 0.96%, to 1540 and the Nasdaq Composite rose 42.1 points, or 1.3%, to 3224. The Dow managed to knock out its record closing and intraday high in ten minutes of trading Tuesday, climbing above the 14198.10 level for the first time ever. The blue-chip average has been on a wild ride since it last hit record levels. In March 2009, during the depths of the worst financial crisis since the Great Depression, it plunged as low as 6547.05. It has taken numerous sizeable falls since then, too, notably during the U.S. debt-ceiling debacle in the summer of 2011.
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"Its been a tough four years," said David Bianco, chief U.S. equity strategist at Deutsche Bank, "but the market has finally recovered." Bianco pointed to several factors for the recent move up on Wall
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Street, including a calming of the eurozone debt crisis, and acceleration in Asian economies. He also said sequestration, while a
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short-term economic drag, has also lessened the likelihood of another downgrade on U.S. debt. The broader, and more closely watched, S&P is still about 2% away from its record high of 1565.15. Bianco expects that market barometer to climb up to record levels in April or May. Still, not all analysts struck a bullish tone. "New Dow highs will certainly make headlines across the country but we simply dont believe that those headlines will lure in retail investors that have proven hesitant despite the equity markets rally over the last several years," wrote Dan Greenhaus, chief global strategist at BTIG,
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Eurozone PMI Ignored as Global Markets Rise Tuesday
in an email. "One headline, (no) matter how powerful, shouldnt overwhelm the psychological damage done to investors over the last twelve years." Every major sector was in the green on Tuesday. Cyclical sectors, like industrials, technology and consumer discretionary retailers, performed best. On the other end of the spectrum were defensive players, like utilities and consumer staples. Volatility pulled back more than 4%, as tracked by the CBOE's VIX. Traders also ditched Treasury bonds, sending the yield on the 10-year rising 0.016percentage point to 1.897%. Economic Data Lift Sentiment The Institute for Supply Management's gauge of service sector activity rose to 56 in February from 55.2 in January, topping expectations of a reading of 55. Readings above 50 point to expansion, while those below point to contraction. Meanwhile, retail sales across the eurozone climbed 1.2% in January from December, following a 0.8% decline the month before. The composite purchasing manager's index for the 17-member currency bloc was also revised up slightly to 47.9 for February from an initial estimate of 47.3 -- indicating the pace of contraction was slightly slower than expected. Elsewhere, oil prices edged up after slipping below the $90 a barrel mark for the first time this year on Monday. The benchmark contract rose 70 cents, or 0.78%, to $90.82 a barrel. Wholesale New York Harbor gasoline gained 1.6% to $3.148 a gallon. Gold advanced $2.50, or 0.16%, to $1,575 a troy ounce. In corporate news, Qualcomm (QCOM) boosted its quarterly dividend 40% to 35 cents and unveiled a $5 billion share buyback plan to replace its $4 billion plan.
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Foreign Markets The Euro Stoxx 50 jumped 2.4% to 2683, the English FTSE 100 climbed 1.4% to 6432 and the German DAX soared 2.3% to 7870. In Asia, the Japanese Nikkei 225 edged up 0.27% to 11683 and the Chinese Hang Seng inched higher by 0.1% to 22561. Follow Adam Samson on Twitter @adamsamson.
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Sensex rises 109 points - The Hindu
Business Markets
Sensex rises 109 points

PTI
Brokers said the rate-sensitive stocks rose on expectations that the RBI might cut interest rates in its policy meeting this month
The Hindu
The BSE benchmark Sensex on Wednesday closed 109 points higher led by buying mainly in stocks of realty, capital goods, IT and banking sectors amid a firming global trend. Rising for the second straight day, the Sensex ended 109.44 points, or 0.57 per cent, up to close at 19,252.61. The index had gained 265 points in the previous session. Similarly, the broad-based National Stock Exchange index Nifty rose by 34.35 points, or 0.59 per cent, to 5,818.60. Brokers said the rate-sensitive stocks rose on expectations that the RBI might cut interest rates in its policy meeting this month. They said IT stocks rose as investors felt a weak rupee and a rally in global markets might increase revenue of software companies, which get over 60 per cent business from the US and Europe. The two most heavy with their nearly 16 per cent weightage on the Sensex were Reliance Industries and Infosys spurted by 1.03 per cent to Rs 834.80 and 1.56 per cent to Rs 2,966.45, respectively. Another index-linked Larsen and Toubro advanced by 2.86 per cent to Rs 1,433.70 after Goldman Sachs joined Nomura Holdings and Jefferies India to raise the stocks rating. In 30-BSE index components, 18 stocks gained while 12 ended with losses. The Realty sector gained the most by 4.52 per cent to 2,034.94 as DLF spurted by 3.81 per cent to Rs 269.55. The capital goods index was the second best performer by rising 2.47 per cent to 9,525.41 followed by metal index by 2.20 per cent to 9,329.08. IT sector index rose by 1.32 per cent to 6,944.59 and Banking index by 0.65 per cent to
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13,616.18. Keywords: Sensex, BSE, NSE, Nifty, Indian stock markets, closing trade
Printable v ersion | Mar 7 , 2 01 3 6 :3 7 :1 9 AM | http://www.thehindu.com /business/m arkets/sensex-rises-1 09 -points/article4 4 81 7 9 3 .ece The Hindu
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Dow Climbs Deeper Into Record Territory | Fox Business


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Logging its fourth-straight advance, the blue-chip average set another all-time closing high Wednesday. The broader markets posted milder gains. Today's Markets
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The Dow Jones Industrial Average climbed 42.5 points, or 0.3%, to 14296, the S&P 500 rose 1.7 points, or 0.11%, to 1541 and the Nasdaq Composite fell 1.8 points, or 0.05%, to 3222. After hitting its bear-market low of of 6547.05 in March 2009, the bluechip average has roared 118% higher and into uncharted territory. The broader, and more closely-watched, S&P 500 still has 1.6% to go before hitting the record high of 1565.15 that it logged in October 2007. Seven of 30 Dow components ended the day up by more than 1%. Bank of America (BAC) led the charge higher, followed by HewlettPackard (HPQ) and Alcoa (AA). IBM (IBM) posted slimmer gains, but contributed the most points to the price-weighted index. On the other end of the spectrum, Microsoft (MSFT), AT&T (T) and Verizon Communications (VZ) performed the worst.
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The focus shifted to the U.S. labor market Wednesday. The ADP National Employment Report showed the U.S. private sector added
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198,000 jobs in February, more than the 170,000 jobs expected. The jobs market has been perking up in recent months as the broader economy has improved, but it still remains far from normal. "The job market remains sturdy in the face of significant fiscal
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headwinds," Mark Zandi, chief economist at Moody's Analytics, which compiles the ADP report, said. "Businesses are adding to payrolls more strongly at the start of 2013 with gains across all industries and business sizes." The all-important monthly jobs report from the Labor Department is on tap for Friday. It is forecast that the economy added 160,000 jobs in February, with the unemployment rate holding steady at 7.9%. Ellen Zentner, an economist at Nomura, said in a note to clients that the strong ADP print adds "upside risk that (Labor's) private payrolls will overshoot the consensus expectation." Separately, the Commerce Department said factory orders slumped
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2% in January from the month before, which came in slightly shallower than estimates of a 2.2% drop. Excluding the transportation segment, orders were up 1.3%. Meanwhile, the Federal Reserve said the U.S. economy is growing at a modest to moderate pace across its 12 districts in its anecdotal Beige Book report. The central bank also said the labor market continued improving in most districts, although hiring plans were limited in certain areas. In commodities, oil priced slipped. The benchmark U.S. contract fell 39 cents, or 0.43%, to $90.43 a barrel. Wholesale New York Harbor gasoline slumped 0.75% to $3.125 a gallon. Gold rose $3.30, or 0.21%, to $1,578 a troy ounce. In corporate news, the European Union fined Microsoft (MSFT) $732 million for not offering consumers sufficient choice in Web browsers on its Windows operating system. Citigroup slashed its rating on J.C. Penney (JCP) to "neutral" from "buy" and cut its price target $7 to $15. Nasdaq OMX Group (NDAQ) said it would form a joint venture with SharePost to form a marketplace for private companies. Foreign Markets The Euro Stoxx 50 fell 0.12% to 2679, the English FTSE 100 dipped 0.07% to 6428 and the German DAX rose 0.62% to 7919.
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In Asia, the Japanese Nikkei 225 surged 2.1% to 11932 and the Chinese Hang Seng jumped 1% to 22778.
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Dow climbs further into record territory - Mar. 6, 2013
Dow marches to another new high

By Ben Rooney @CNNMoneyInvest March 6, 2013: 4:56 PM ET
NEW YORK (CNNMoney)
One day after hitting a new all-time high, the Dow gained more ground Wednesday as investors welcomed signs of strength in the U.S. job market. The Dow Jones industrial average rose 0.3%, to end at a new record high of 14,296.39. The S&P 500 gained 0.1%. The S&P 500 is now only about 1.3% away from its record high, set in October 2007. The Nasdaq, however, was little changed for the day. Shares of Staples ( office supplies retailer cut its sales outlook. SPLS, Fortune 500) weighed on the index after the
The rally has been driven by improved economic data in the United States, said Bill Stone, chief investment strategist for PNC Wealth Management. "There's more and more confidence that the economy is on firmer footing," he said. "It's not growing fast, but it's not about to fall off a cliff either." Wednesday's better-than-expected report from payroll processing firm ADP raised hopes that Friday's all-important monthly jobs report from the Labor Department would be a strong one. Economists surveyed by CNNMoney expect a gain of 175,000 jobs in February. But recent readings on investor sentiment have been mixed, suggesting the market could be headed for a pullback, said Stone. "There is some concern that it's precarious because we've come so far so fast," he said. The Dow has gained 9% so far this year, while the S&P 500 is up more than 8%.
Related: Actually, the real Dow is still 11% below its record
Meanwhile, the market has also been supported by the Federal Reserve's stimulus measures, which have pushed interest rates down and made stocks more attractive. "The U.S. is leading the pack in the recovery due to extraordinary levels of fiscal and monetary stimulus," wrote Deutsche Bank strategist Jim Reid in a research note.
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Dow climbs further into record territory - Mar. 6, 2013
In the latest edition of its Beige Book, the Fed said Wednesday that economic activity across its 12 districts expanded at a "modest to moderate pace" since it released the last edition in January. Fed officials, including chairman Ben Bernanke, have signaled that the central bank will continue to buy assets even as the economy improves. After bottoming in March 2009, stocks have risen steadily as investors were drawn back into the market by attractive valuations. Analysts say stocks are still relatively cheap compared with earnings expectations, but bargains could be harder to come by as prices continue to rise.
Related: Bad timing? Investors yanked $1.1 billion from stocks
On the corporate front, shares of Hovnanian ( HOV) fell 2% after the homebuilder said it lost a worse-than-expected $11.3 million, or 8 cents per share, in the most recent quarter. Despite the latest results, Hovnanian said it expects to return to profitability this year. Also, the European Union fined Microsoft ( MSFT, Fortune 500) 561 million, or about $730 million, for failing to provide users of Windows 7 with a choice of Internet browsers.
Related: Fear & Greed index inching toward extreme greed
Shares of Smith & Wesson (
SWHC) declined, despite the gunmaker's strong third quarter earnings.
JC Penney's ( JCP, Fortune 500) shares extended Tuesday's after the Wall Street Journal reported that some shareholders may start pushing for a new CEO if sales continue to slide. The struggling retailer is also in the third week of a court battle with Macy's ( M, Fortune 500), which claims that Martha Stewart Living Omnimedia ( MSO) violated a previous agreement by entering into a new partnership with J.C. Penney. South Korean electronics company Samsung agreed to take a 3% stake in Japanese company Sharp. European markets advanced, with indexes closing at their highest points in more than a year. Germany's DAX led the way. Asian markets also ended higher. The Shanghai Composite added 0.9%, the Hang Seng increased 1% and Japan's Nikkei rose 2.1%. Oil prices were down slightly as the U.S. dollar strengthened. Analysts say the death of Venezuelan leader Hugo Chavez will not impact the nation's oil production. Gold prices edged higher. The yield on the 10-year Treasury note rose to 1.94% from 1.89% on Tuesday.
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Sensex at two-week high - The Hindu
Business Markets
Sensex at two-week high

PTI
The BSE benchmark Sensex on Thursday surged by nearly 161 points to a two-week high of 19,413.54 as shares of Infosys and Tata Consultancy Services climbed to record high levels on optimism the US will soon be back on growth track. After a lower start, the Sensex spurted by 160.93 points, or 0.84 per cent to 19,413.54. The gauge has gained 536 points in three sessions. The broad-based National Stock Exchange index Nifty rose by 44.70 points to 5,863.30, after opening lower at 5,801.30. Infosys surged 1.29 per cent to Rs 3,004.75, its highest level after March, 2011 and Tata Consultancy Services closed at a new high by adding 2.10 per cent to end at Rs 1,590.45. Engineering major L&T shot up by 2.08 per cent to Rs 1,463.45, continuing its rise after CLSA Asia-Pacific Markets upgraded rating on the counter today. Goldman Sachs had upgraded the stock on Monday. Brokers said besides momentum in interest-rate sensitive stocks ahead of the RBIs policy review this month on hopes of a rate cut, stocks of software companies surged on hopes of a recovery in the US growth and a better Europan trend before central bank policy meetings in the region. In 30-BSE index components, 20 stocks climbed while 10 ended lower. The realty sector index gained the most by 1.68 per cent to 2,069.08, followed by IT index by 1.66 per cent to 7,059.60. The capital goods index rose by 1.59 per cent to 9,676.88 and banking index by 0.86 per cent to 13,733.93. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade
Printable v ersion | Mar 8, 2 01 3 3 :05:4 9 AM | http://www.thehindu.com /business/m arkets/sensex-at-twoweek-high/article4 4 84 6 9 3 .ece The Hindu
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Dow continues record run - Mar. 7, 2013
Dow continues record run

NEW YORK (CNNMoney)
The Dow finished at a new record Thursday, as the blue chip index and the S&P 500 advanced for a fifth straight day. The Dow Jones industrial average rose 0.2%, reaching a record high of 14,329.49. Earlier in the day, the Dow also climbed to an intraday all-time high of 14,354.69. The S&P 500, now just 2% away from its all-time high, rose 0.2%, while the Nasdaq increased 0.3%. The recent rally has been driven by a series of strong economic reports, particularly related to the job market and manufacturing, said Marc Chandler, strategist for Brown Brothers Harriman. The U.S. economy has proven itself "fairly resistant to the fiscal cliff and the sequester," he said. Ahead of Thursday's open, the Department of Labor reported that initial jobless claims fell to 340,000 last week. That was down from an upwardly revised tally of 347,000 the prior week and lower than the 350,000 forecast economists had expected. This week's report on private-sector job growth from payroll processing firm ADP was also better than expected, raising hopes that Friday's February jobs report, due before the opening bell, would also be strong. Economists surveyed by CNNMoney expect a gain of 170,000 jobs for the month.
Related: Betting on boring stocks pays off
Meanwhile, earnings season is winding down with a smattering of companies still reporting. SolarCity ( SCTY) shares sank 14% after the company missed earnings estimates. Online music streaming firm Pandora Media ( P) reports after the market close. In other corporate news, Time Warner ( TWX, Fortune 500), which owns CNNMoney, announced plans late Wednesday to spin off its Time Inc. magazine business into a separate publicly traded company. Shares of rival publisher Meredith ( MDP), which was previously in talks to buy most of the the Time Inc. brands, tumbled 6%. Gap ( GPS, Fortune 500) shares jumped 4% after the company said its global same-stores sales rose 3% in February, topping expectations.
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Dow continues record run - Mar. 7, 2013
Related: Fear & Greed Index edging toward extreme greed
European markets finished higher, after the European Central Bank and the Bank of England announced they would keep their rates unchanged. Both moves were widely expected. ECB President Mario Draghi also said the central bank's stance would remain "accommodative" for as long as necessary, and the bank was considering whether it could do anything more to make lenders less risk averse. Asian markets ended mixed. The Shanghai Composite lost 1%, the Hang Seng was flat and Japan's Nikkei rose 0.3%. The dollar fell versus the euro and the British pound, but rose versus the Japanese yen. Oil and gold prices advanced slightly. The price on the 10-year Treasury fell, pushing the yield up to 1.99% from 1.94% late Wednesday.
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Dow Logs Another Record High as Stocks Advance | Fox Business


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Dow Logs Another Record High as Stocks Advance


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FOX Business: Capitalism Lives Here The blue-chip average notched a record closing high for the third day in a row Thursday as traders digested a smattering of data and braced for the monthly jobs report. Today's Markets
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According to preliminary calculations, the Dow Jones Industrial Average climbed 33.25 points, or 0.23%, to 14329.64, the S&P 500 rose 2.85 points, or 0.18%, to 1544.31 and the Nasdaq Composite gained 9.73 points, or 0.30%, 3232.09. The benchmark average once again landed at levels unseen since October 2007 as Wall Street continues its recovery from the financial crisis. The broader markets have made moves higher as well, although, the broad S&P 500 struggled to pick up momentum on Wednesday. It is trading at five-year highs, but still has roughly 1.5% to go before hitting its record.
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Dow component, followed by Boeing (BA), J.P. Morgan Chase (JPM) and Alcoa (AA). A Full Economic Docket The docket of economic events was full on Thursday, with several data releases and central bank decisions. The Bank of England kicked off the day by holding its benchmark interest rate and the size of its quantitative easing program steady, as expected. The European Central Bank also held its main rate steady. The ECB has been one of the leading public institutions aiming to dull the eurozone's debt crisis by holding interest rates low and utilizing several special lending programs to help banks across the 17member currency bloc. On the U.S. front, the U.S. trade deficit widened to $44.5 billion in January from $38.1 billion in December. Economists expected the gap to increase to $42.6 billion. The trade gap figures directly into calculations of first-quarter gross domestic product -- the larger the deficit, the more it drags down growth. Indeed, Barclays chopped down its forecast for first-quarter economic growth 0.2-percentage point to 1.6% on the data. Meanwhile, global outplacement consultancy Challenger, Gray & Christmas said employers cut 55,356 jobs in February, up 37% from 40,430 in January. Planned job cuts were up 7% from the same month in 2012. The Labor Department reports weekly jobless claims fell 7,000 to 340,000, declining for a second straight week. Economists expected claims to rise to 355,000. Continuing claims rose to 3.094 million from 3.091 million the week prior. The all-important monthly employment report for the month of February is slated to be released on Friday. In corporate news, Time Warner (TWX) said it would spin off Time, Inc., one of the biggest American publishing companies, into its own publicly-traded company. Royal Bank of Scotland (RBS) said its banking services were "disrupted" overnight, but fixed by Thursday morning New York time. Oil Rallies
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Oil prices rallied on the day. The benchmark U.S. contract climbed $1.13, 1.3%, to $91.56 a barrel. Wholesale New York Harbor gasoline fell 0.04% to $3.123 a gallon. Gold climbed 20 cents, or 0.01%, to $1,575 a troy an ounce. Foreign Markets The Euro Stoxx 50 rose 0.41% to 2691, the English FTSE 100 rose 0.18% to 6439 and the German DAX inched up 0.26% to 7940. In Asia, the Japanese Nikkei 225 edged up 0.3% to 11968 and the Chinese Hang Seng slipped 0.03% to 11968.
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Dow Logs Another Record High as Stocks Advance

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Sensex gains 125 points on sustained buying - The Hindu
Business Markets
Sensex gains 125 points on sustained buying

PTI
The BSE benchmark index Sensex rose over 125 points in early trade on Friday on sustained buying by funds and retail investors amid a firming trend in Asian markets. Continuing its rising streak for the fourth straight session, the 30-share index rose by 125.27 points, or 0.65 per cent, to 19,538.81 points. The index had gained 535.58 points in the previous three sessions. Stocks of oil and gas, consumer durables and banking sectors led the rally. The wide-based Nifty of the National Stock Exchange regained 5,900 points level by rising 40.85 points, or 0.69 per cent, to 5,904.15. Brokers said continued buying by funds and retail investors on hopes that the Reserve Bank of India may announce a rate cut in its policy review later this month and a firming trend on the other Asian bourses, influenced the trading sentiment here. In the Asian region, Hong Kongs Hang Seng Index rose by 1.07 per cent, while Japans Nikkei was higher by 2.17 per cent in the morning trade on Friday. The U.S. Dow Jones Industrial Average gained 0.23 per cent to close at fresh record high in Thursdays trade. Keywords: Sensex, BSE, Nifty, NSE, India stock markets, opening trade
Printable v ersion | Mar 9 , 2 01 3 9 :1 8:2 6 AM | http://www.thehindu.com /business/m arkets/sensex-gains-1 2 5-points-on-sustained-buy ing/article4 4 87 52 3 .ece The Hindu
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Stocks end 2nd best week of 2013 - Mar. 8, 2013
Stocks end 2nd best week of 2013

By Maureen Farrell @CNNMoneyInvest March 8, 2013: 4:21 PM ET
NEW YORK (CNNMoney)
Stocks wrapped up one of the best weeks of the year. The Dow Jones industrial average and S&P 500 closed higher for the sixth straight trading day and ended the week up more than 2%. The Dow has closed at record highs for four consecutive days, and the S&P 500 is only about 1% below its all-time high. On Friday, the Dow gained 0.5%. The Nasdaq and S&P 500 also rose about 0.4%. Friday's robust jobs report capped off a string of positive labor reports that have given investors reason to believe the economy is finally on firmer footing. The U.S. government reported early Friday that 236,000 jobs were added to the economy in February, and the unemployment rate dropped to 7.7%. The employment gains beat analysts' forecasts by a wide margin. "The employment numbers offered some confirmation that the economy is getting better," said Giri Cherukuri, a portfolio manager at Oakbrook Investments. As long as economic data continue to show the recovery is gaining steam, Cherukuri bets that stocks will keep marching higher. All three major indexes are already up between 7% and 10% so far this year.
Related: Betting on boring stocks pays off
The Dow's records come just ahead of the fourth anniversary of the market's bottom following the financial crisis. Frank Davis, director of trading at LEK Securities, is "cautiously optimistic" that stocks will keep going up, but said he expects the pace of the gains to slow down. In corporate news, online music streaming firm Pandora Media ( P) reported better-than-expected quarterly sales and announced that its CEO will be stepping down. Pandora's shares soared 18%. Athletic shoe retailer Foot Locker ( But its stock fell more than 7%. FL, Fortune 500) reported a significant increase in sales and profit for the fourth quarter.
Citigroup's ( C, Fortune 500) shares gained nearly 4%, after the Fed released results from its stress tests. The Fed said Citi was the big bank best prepared to weather another recession.
money.cnn.com/2013/03/08/investing/stocks-markets/index.html?hpt=hp_t3
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Stocks end 2nd best week of 2013 - Mar. 8, 2013
Morgan Stanley ( MS, Fortune 500), JPMorgan Chase ( passed the stress tests, but shares of all three banks fell.
JPM, Fortune 500) and Goldman Sach (
GS, Fortune 500)s also
Shares of Skullcandy ( SKUL) sank more than 20% after the headphone maker forecast a 30% drop in sales and said it expects to post a loss for the current quarter. Herbalife ( company. HLF) shares edged higher after activist investor Carl Icahn increased his stake in the nutritional supplement RCL) sank 3%, after the cruise operator revealed that more than 100 passengers fell ill
Shares of Royal Caribbean Cruises Ltd ( during a Caribbean cruise.
Related: Fear & Greed Index is in extreme greed
European markets closed up between 0.6% and 1.6%, fueled by the U.S. jobs data. Asian markets ended mixed. The Shanghai Composite lost 0.2% and the Hang Seng added 1.4%. Japan's Nikkei increased 2.6% after the yen extended losses, and revised data showed the country's economy has pulled out of a shallow recession. The dollar rose against the euro, the British pound, and the Japanese yen. Oil prices dropped, while gold prices moved slightly higher. The price on the 10-year Treasury fell, pushing the yield up to 2.06% from 1.99% Thursday.
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3/11/13
Dow ends at record high for fifth day - Mar. 11, 2013
Dow ends at record high for fifth day

NEW YORK (CNNMoney)
U.S. stocks continued their record run Monday as hopes that lawmakers would pass a budget added to the recent enthusiasm. The Dow Jones Industrial Average climbed 0.3%, closing at a record high for the fifth consecutive trading day. The S&P 500 gained 0.3% and is less than 10 points away from its all-time closing high. The Nasdaq added 0.2%. Both the Dow and S&P 500 have risen for seven consecutive trading days. Stocks have been supported by better-than-expected economic data and signs the Federal Reserve will keep its stimulus policies in place for some time. Investors have shrugged off federal spending cuts that went into effect this month, and seem optimistic that Congress will pass a budget before a March 27 legislative deadline. "It looks like we might actually get a budget this year," said Charlie Smith, chief investment officer at Fort Pitt Capital Group. Smith said his firm is in the process of shifting from "playing defense to offense." But he was cautious about the outlook for corporate earnings. All three major indexes are already up between 9% and 10% this year.
Related: Bank stocks still 50% below all-time highs
Stocks could continue to move higher as investors regain their appetite for risk, but the bull market is vulnerable to a pullback, noted John Stoltzfus, chief market strategist at Oppenheimer. "At some point, likely sooner than later, a piece of negative news or some data point will trip the bull up," Stoltzfus wrote in his weekly note to clients. Historically, stocks have been flat to modestly lower two months after hitting a record high, according to BTIG chief global strategist Dan Greenhaus. That might not be too bad, considering stocks have gained roughly 15% from the lows hit last November, he added. There were no major economic reports released Monday, but retail sales data, due Wednesday, could move the market.
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Dow ends at record high for fifth day - Mar. 11, 2013
Investors are keen to see whether the increased payroll tax, delayed tax refunds and higher gas prices have caused consumers to pull back on spending. February sales are expected to have risen 0.5%, according to economists polled by Briefing.com. Wal-Mart ( WMT, Fortune 500) warned last month that its February sales had been softer than expected.
On the corporate front Monday, shares of Dick's Sporting Goods ( DKS, Fortune 500) fell more than 10% after the retailer reported earnings and sales that fell short of forecasts. The company also said it expected a sharp slowdown in same-store sales for the first quarter. Shares of BlackBerry ( BBRY) rallied nearly 14% as enthusiasm over the upcoming debut of its latest smartphone, the Z10, grew. AT&T ( T, Fortune 500) said it would begin pre-orders on Tuesday. Billionaire investor Carl Icahn signed a confidentiality agreement with Dell ( DELL, Fortune 500)to review the PC maker's financial information, a move that could head off a showdown over Michael Dell's buyout. Shares of Genworth Financial ( General Electric ( GNW, Fortune 500) rose 6% after an article in Barron's called the stock undervalued.
GE, Fortune 500) named former SEC chairman Mary Schapiro to its board of directors.
Related: Fear & Greed index moves deeper into extreme greed
Overseas, markets in Europe and Asia ended mixed. The Nikkei rose modestly, extending this year's big rally. Japanese stocks have outperformed this year as investors welcome Tokyo's efforts to stimulate economic growth. But shares in China ended lower, dragged down by concerns over Chinese manufacturing. The dollar rose against the British pound and the Japanese yen, but fell against the euro. Oil prices dropped, while gold prices moved slightly higher. The price on the 10-year Treasury edged lower, pushing the yield up to 2.06%.
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Wall Street Extends Winning Streak to Seven Days | Fox Business


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FOX Business: Capitalism Lives Here The markets climbed on Monday, with the Dow and S&P 500 both advancing for the seventh session in a row, as traders shrugged off global economic and political woes.
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Today's Markets According to preliminary calculations, the Dow Jones Industrial Average rose 50.2 points, or 0.35%, to 14447, the S&P 500 climbed 5 points, or 0.32%, to 1556 and the Nasdaq Composite gained 8.5 points, or 0.26%, to 3253. The blue-chip average posted its third-straight week of gains last week, topping a record high set in 2007. Meanwhile, the broader S&P 500 extended its winning streak to two weeks and moved within 0.9% of its all-time peak. Sentiment across world trading desks was slightly less optimistic as the new week kicked off. Markets in Asia were mixed, while European bourses were broadly lower. However, U.S. markets were able to shake off those worries.
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The financial, health-care, utility and industrial sectors fared the best on the day, while telecommunications, energy and technology generally lagged. Volatility continued its journey lower, with the CBOE's VIX sliding more than 7%. The yields on benchmark U.S. Treasuy bonds were up modestly as traders continued moving into equities. The 10-year yield climbed 0.016-percentage point to 2.058%. Data released over the weekend showed China's industrial output growing at an annual pace of 9.9% in the first two months of the year, slower than the 10.5% economists expected. Retail sales expanded at a rate of 12.3%, also coming in shy of forecasts of 15.2%. China is the world's second-biggest economy, and while growth has remained robust, there have been concerns that it could cool dramatically as the global economy struggles. Fitch sliced Italy's long-term credit rating one notch from "A-" to "BBB+" with a negative outlook in the middle of the U.S. session on Friday. European markets were already closed at the time, so traders there had their first chance to respond Monday. Italy's benchmark stock-market index sold off by 1%. The downgrade "illustrates the [European Central Bank's] lack of control over elements in the matrix of risks assessed by investors and rating agencies," Guy Mandy, an analyst at Nomura wrote to clients over the weekend. The ECB was able to calm embattled eurozone debt markets by saying it is prepared to do whatever it takes to keep borrowing costs from spiking last fall. Energy futures ended mixed after a choppy session. The benchmark U.S. crude oil contract climbed 11 cents, or 0.12%, to $92.06 a barrel. Wholesale New York Harbor gasoline sold off by 1.6% to $3.152 a gallon. In metals, gold ticked up by $1.10, or 0.07%, to $1,578 a troy ounce. Foreign Markets The Euro Stoxx 50 dropped 0.37% to 2719, the English FTSE 100 rose 0.31% to 6504 and the German DAX slipped 0.03% to 7984. In Asia, the Japanese Nikkei 225 gained 0.53% to 12349 and the Chinese Hang Seng was essentially unchanged at 23091. Follow Adam Samson on Twitter @adamsamson.
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Macy's CEO: 'Sick to My Stom ach' Over Martha Stew art Deal
Gold and Silver Plunge as Fed Keeps Printing $85 Billion Per Month
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Dow in Longest Record-Setting Streak in 26 Years | Fox Business


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FOX Business: Capitalism Lives Here The Dow narrowly extended its streak of logging record highs to seven sessions Wednesday in the longest such run in more than a quarter century. Today's Markets
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The Dow Jones Industrial Average rose 5.1 points, or 0.04%, to 14455, the S&P 500 climbed 2 points, or 0.13%, to 1555 and the Nasdaq Composite ticked up 2.8 points, or 0.09%, to 3245.
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The blue-chip average has now closed in the green for nine sessions in a row. Meanwhile, the broader S&P 500 sits in a range of less than 1% of its all-time high. U.S. Data Top Expectations
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A round of strong data on the U.S. economy helped keep traders' buying appetite alive Wednesday despite worrisome headlines from Europe. The U.S. Commerce Department said sales by retailers jumped 1.1%
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in February from the month before, easily beating expectations of an increase of 0.5%. The data came as especially good news since February represented the second month consumers were forced to deal with a 2% payroll tax hike, along with high gasoline prices, which some economists worried would crimp demand. Indeed, Dan Greenhaus, chief global strategist at BTIG, wrote in an email that "consumers showed remarkable resiliency" in February in light of those issues. Separately, the Labor Department reported import prices rose 1.1% last month to the highest level since August due to to a big increase in fuel prices. Economists expected a slimmer 0.5% gain. Meanwhile, export prices rose 0.8%, a bigger rise than the 0.3% forecast. Another report, also from Commerce, showed business inventories climbing 1% in January from December, beating expectations of a 0.4% increase. Between the strong retail sales print and the inventory data, Barclays boosted its first-quarter economic growth estimate 0.6percentage point to 2.5%. Italy, Eurozone Headlines Set Bearish Tone News out of Europe set a mildly bearish tone early Wednesday. Italy auctioned $9.1 billion in government debt, which came close to its targeted allocation. However, demand came in lighter than expected, and the country was forced to pay higher yields across the board than before elections last month. Italy has been marred in uncertainty since the messy elections left it without a unified government. The political uncertainty prompted a downgrade from Fitch and warnings from many analysts. "The results (of the auction) may suggest that the market is beginning to redress the recent complacency our rates strategists have noted," analysts at Nomura told clients Wednesday. Rome's 10-year borrowing costs on secondary markets rose 0.1percentage point to 4.69% on the heels of the tepid auction, according to The Wall Street Journal . Still, credit markets have broadly shrugged off concerns about Italy amid hopes the European Central Bank will take steps to keep borrowing costs from surging. Traders also got a round of data on the factory sector in the eurozone. Industrial production dipped 0.4% in January from December, more than the 0.1% drop economists expected. The data come as the latest sign that the 17-member currency bloc is still struggling to recover from its debt crisis. On the corporate front, Coach (COH) shares rallied after Citigroup (C) upgraded the luxury retailer to "buy" from "neutral," noting the
Ackm an 'Pleased' About Call for Herbalife Probe The President's Disconnect w ith Econom ic Reality
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company's "good upside potential." Boeing (BA) got a green light from the Federal Aviation Administration to begin testing a redesigned battery for the 787 Dreamliner in its bid to get the plane back in use. Elsewhere, oil and gasoline futures were little changed. The benchmark U.S. crude oil contract fell 2 cents, or 0.02%, to $92.52 a barrel. Wholesale New York Harbor gasoline dipped 0.25% to $3.142 a gallon. Gold fell $3.30, or 0.21%, to $1,588 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.52% to 2698, the English FTSE 100 sold off 0.87% to 6454 and the German DAX dipped 0.13% to 7956. In Asia, the Japanese Nikkei 225 dropped 0.61% to 12240 and the Chinese Hang Seng plummeted 1.5% to 22557. Follow Adam Samson on Twitter @adamsamson.
Report: J.C. Penney Cuts Another 1,500 Jobs Macy's CEO: 'Sick to My Stom ach' Over Martha Stew art Deal Proof the Fed is Juicing the Markets Seven Reasons the IRS Will Audit You Netflix Launches Closer Integration With Facebook Bears are Back: Stocks Sink, Volatility Surges in Late-Day Selloff
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Sensex up 208 points as lower core inflation fuels rate cut hopes - The Hindu
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Sensex up 208 points as lower core inflation fuels rate cut hopes
PTI
The BSE benchmark Sensex on Thursday jumped by nearly 208 points to end at 19,570.44 on heavy buying in realty, banking and capital goods scrips as core inflation in February fell below 4 percent mark for the first time in nearly 3 years fuelling hopes of rate cut by RBI on March 19. The Sensex, which had lost nearly 321 points in last three sessions, recovered by 207.89, or 1.07 per cent to 19,570.44, snapping a three-day fall. On similar lines, the broad-based National Stock Exchange index Nifty regained 5,900 level by rising 57.75 points, or 0.99 per cent to end at 5,908.95. In 30-share Sensex, 24 stocks led by SBI (3.51 per cent), Maruti (3.43 pc), ICICI Bank (2.29 pc) and HDFC Bank (2.28 pc) and L&T (1.92 pc) ended in positive territory. RIL, TCS, HUL and ONGC also notched up smart gains. While 1,420 stocks rose and 1,446 counters fell in overall BSE platform, investor wealth rose by Rs 50,000 crore to Rs 66.94 lakh crore. Wholesale Price Index (WPI) based inflation rose to 6.84 per cent in February 2013 after falling to a three-year low of 6.62 per cent in the previous month. However, core inflation an indicator of demand side pressures on prices fell below the 4.0 per cent mark for the first time in past 35 months. This should give the RBI some elbow room to ease rates in the March 19 policy as monetary policy stance has turned more growth-supportive, said Bhupali Gursale, Economist, Angel Broking. Besides, brokers said strong US retail sales data, a higher opening in the European markets and a mixed trend in the Asian region, further supported the domestic market. Sectorally in Indian markets, the BSE banking index gained 2.08 per cent to 13,796.47. The BSE realty sector index ended 2.18 per cent higher at 2,107.61 with stocks of Prestige Estates rising 7.97 per cent, Unitech by 6.09 per cent and DLF Ltd 1.50 per cent. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade
Printable v ersion | Mar 1 4 , 2 01 3 1 0:1 6 :55 PM | http://www.thehindu.com /business/m arkets/sensex-up-2 08-points-as-lower-core-inflation-fuels-rate-cuthopes/article4 5084 4 5.ece The Hindu
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3/14/13
Dow on 10-day winning streak - Mar. 14, 2013
Dow extends win streak to 10

NEW YORK (CNNMoney)
U.S. stocks advanced Thursday, with the Dow hitting yet another record high and the S&P 500 coming within 2 points of its alltime high. The Dow Jones industrial average rose more than 80 points, or 0.6%, climbing to a fresh high above 14,530. The gains mark the Dow's 10th straight up day -- matching the winning streak in 1996, the year of former Fed Chairman Alan Greenspan's "irrational exuberance" speech. The S&P 500 added 9 points, or 0.6%. The broad index is closing in on its all-time high of 1,565.15, set in October 2007. The Nasdaq gained 0.4%. The daily grind higher in stocks "is acting like water torture for both bulls and bears," said Sam Stovall, chief equity strategist at S&P Capital IQ.
Related: Dow's best run since 1996
On one hand, bulls are worrying about slowing momentum in the stock rally, on the other, the bears are spooked by the fact that stocks keep going up, Stovall said. "Investors are in search of a new catalyst to trigger the next move," he said, adding that the S&P 500 will likely pull back briefly before it reaches a new high. In economic news, investors were encouraged by a Labor Department report showing initial jobless claims fell to 332,000 last week. That was better than forecasts of 350,000 and signaled ongoing improvement in the labor market. On the corporate front, Men's Wearhouse ( guidance. MW) soared 19% after reporting earnings, a $200 million share buyback and new
Related: BlackBerry back from dead (for now) with Z10
Shares of Blackberry ( BBRY) pulled back Thursday, a day after rallying on the announcement that the company received one million orders for its Blackberry 10 device from an unnamed partner. E*Trade ( ETFC)shares fell after a major shareholder said it planned to sell its entire stake in the company.
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Dow on 10-day winning streak - Mar. 14, 2013
Related: Fear & Greed Index moves into extreme greed
European markets ended higher, with Germany's DAX leading the way. A two-day summit of European leaders kicked off Thursday. Asian markets also ended firmer. Japan's Nikkei was up 1.2% but the Shanghai Composite and Hong Kong's Hang Seng continued to lag on talk of efforts to control rising prices. "We shall take measures, including monetary policy adjustments, to stabilize prices, and lower inflation expectations," Zhou Xiaochuan, China's central bank governor, said Wednesday. The dollar lost ground against the euro and the British pound. It was flat versus Japanese yen. Oil and gold prices edged higher. The price on the 10-year Treasury fell slightly, pushing the yield up to 2.03% from 2.02% late Wednesday.
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Dow Logs Tenth-Straight Gain, Fresh Record High | Fox Business


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FOX Business: Capitalism Lives Here A round of strong data on the U.S. labor market whetted traders' buying appetites, sending the blue-chip average higher for the tenth session in a row in the longest winning streak since 1996. Today's Markets
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The Dow Jones Industrial Average rose 83.9 points, or 0.58%, to 14539, the S&P 500 climbed 8.7 points, or 0.56%, to 1563 and the Nasdaq Composite jumped 13.8 points, or 0.43%, to 3259.
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The Dow managed to notch a new record high for the eighth session in a row, in the longest such streak since the mid-1990s. Meanwhile the broader, and more closely watched, S&P 500 is within points of the record high it logged in 2007. Claims Data Lift Sentiment
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Traders got a handful of reports on the U.S. economy Thursday. The number of people filing for first-time jobless benefits fell by 10,000 to 332,000 last week, the Labor Department said, better than estimates of 350,000. The four-week moving average, which helps smooth volatility, dropped to 346,750 -- its lowest level since March 2008. The monthly jobs report for February showed a dramatically biggerthan-expected payroll gain, which has economists taking a more bullish take on the labor market. Market participants are paying especially close attention to jobs data since the Federal Reserve has hinted that it could taper asset purchases earlier than expected if the labor market heats up. A different report from Labor showed inflation at the wholesale level rising 0.7% in February from the month before, which matched forecasts. Excluding the food and energy components, prices at the producer level climbed 0.2%, also inline with forecasts. Inflation is another gauge the Fed watches very closely -- although the central bank has repeatedly said so-called inflation expectations are running at or below target levels. On the corporate front, the Fed is set to release its second round of stress tests on the biggest U.S. banks. This round will focus on how balance sheets will be impacted by proposed capital and dividend plans. The first set, released last week, showed all but one bank surviving a hypothetical economic storm better than it would have during the financial crisis, suggesting banks have bolstered their balance sheets. Samsung is set to unveil its latest smartphone, the Galaxy S4, that is powered Google's (GOOG) Android operating system. Analysts have noted that the Android phones, along with others like those from BlackBerry (BBRY) could chip away at Apple's (AAPL) dominance in the U.S. marketplace. On the European front, the European Council will hold a summit in Brussels on the day. The group that consists of European Union heads of state is expected to discuss a wide range of issues, including fiscal plans for several major countries, including France, and potentially a bailout program for Cyprus. The troika, which is made up of the European Commission, European Central Bank and International Monetary Fund, said "significant progress" has been made on Greece, but issues still remain. The group will take a break until April to perform technical work. Elsewhere, oil futures edged up 51 cents, or 0.55%, to $93.03 a barrel. New York Harbor gasoline dipped 0.03% to $3.141 a gallon. In metals, gold rose $2.30, or 0.14%, to $1,591 a troy ounce.
E*Trades Shares Fall as Citadel Sells Entire Stake Ackm an 'Pleased' About Call for Herbalife Probe
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Foreign Markets The Euro Stoxx 50 climbed 0.99% to 2731, the English FTSE 100 rose 0.36% to 6505 and the German DAX jumped 0.79% to 8035. In Asia, the Japanese Nikkei 225 rallied 1.2% to 12381 and the Chinese Hang Seng edged up 0.28% to 22619.
Proof the Fed is Juicing the Markets Five Collectibles to Stash for Big Cash Later Gold Falls Below $1,600, Bernanke Gives Unem ploym ent Prediction Is Gold's Correction Just the Beginning? J.C. Penney Gets a New Buy Rating By BTIG How the Rich (and Poor) Avoid Paying Incom e Taxes
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FOX Business: Capitalism Lives Here Wall Street posted solid gains on Wednesday as traders responded to the Federal Reserve continuing its aggressive easing and analysis suggesting the situation in Cyprus will remain contained. Today's Markets
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The Dow Jones Industrial Average rose 55.91 points, or 0.39%, to 14511.73, the S&P 500 climbed 10.37 points, or 0.67%, to 1558.71 and the Nasdaq Composite jumped 25.09 points, or 0.78%, to 3254.19.
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The blue chips briefly traded in record territory before closing below those highs, while the S&P 500 snapped a three-day losing streak and landed just 0.4% away from its best close ever. Gains were fairly broad-based on the day, with every sector besides telecommunications climbing. The best performer by a wide margin was the consumer discretionary sector, followed by consumer staples, and then health-care. Fed Holds Firm on Policy
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Cyprus Distracting from Investing Opportunities in Europe?

Fed Sees Jobless Rate Falling Faster Than Initially Expected
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The Federal Reserve said it expects to continue holding interest rates at historic lows until the unemployment rate falls below 6.5%. It will also continue buying assets at its current pace of $85 billion per month, and weigh the costs of benefits of this aggressive monetary policy. The central bank also sees the unemployment rate falling faster than previously expected in 2013 and 2014. It now forecasts a range of 7.3% to 7.5% for this year and 6.7% to 7% the following year. The upper range of the 2015 estimate was also lowered 0.1 percentage point to 6.5%. "We see nothing in the March FOMC statement to alter our view that the Fed will continue its asset purchase program at a rate of $85bn per month through the end of the year, before beginning to slow purchases sometime in the first half of 2014," Michael Gapen, an economist at Barclays wrote to clients. Timing of the Fed's exit from quantitative easing has been key ever since minutes from the last meeting said some members were mulling "tapering" the program as the economy improves. The Fed balances its dual mandate of ensuring steadily low unemployment and keeping inflation under control in making its decisions. Over the past several years, inflation has been kept in check, so the Fed has been pushing hard to accelerate growth and push the unemployment rate down. "The Fed would argue, and its time market participants believed them, that as long as inflation is low, the paramount concern is the unemployment rate," Dan Greenhaus, chief global strategist at BTIG, wrote in an email. "As such and in theory, as long as inflation and inflation expectations remain contained, the FOMC could ease policy indefinitely." Cyprus Woes Ebb Headlines from Europe have driven Wall Street higher and lower over the past two trading days. However, markets have only posted relatively mild losses even as the situation in Cyrpus remains murky. The country's parliament turned down a plan that would have financed $7.5 billion of a $13 billion international bailout with bank deposit levies. That means Cyprus now needs to come up with a new way to kick in money for the plan, lest it risks a default and and a big blow to its banking system. Still, there are hopes among world trading desks that the situation will remain contained.
BlackRock Not Spooked By Tiny Cyprus
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"In the glory days of the eurozone crisis a no vote to a bailout plan would have provoked a major storm, but the small size of the bailout and the loose monetary policy environment means that most investors are happy to leave Cyprus on the back burner," Chris Beauchamp, a market analyst at IG in London wrote in an e-mail. On the corporate front, FedEx (FDX) revealed an adjusted fiscal third-quarter profit of $1.23 a share, significantly below estimates of $1.38 a share. Revenues of $11 billion beat Wall Streets expectations of $10.85 billion. The global shipping giants full-year profit view of $6 to $6.20 a share missed forecasts of $6.31 a share. Shares of BlackBerry (BBRY) jumped on a report that Morgan Stanley upgraded the embattled smartphone maker to "overweight" from "underweight." In commodities, oil and gasoline prices pushed higher. The benchmark U.S. crude oil contract climbed 69 cents, or 0.75%, to $92.85 a barrel. Wholesale New York Harbor gasoline rose 0.37% to $3.056 a gallon. Gold fell $3.60, or 0.23%, to $1,608 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.69% to 2690, the English FTSE 100 fell 0.02% to 6441 and the German DAX climbed 0.43% to 7981. In Asia, the Chinese Hang Seng rallied 1% to 22256. Markets in Japan were closed for the Vernal Equinox.
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Crisis in Cyprus Snaps S&P's Three-Week Run | Fox Business


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FOX Business: Capitalism Lives Here The broad S&P 500 ended in the red for the first time in four weeks amid mounting concerns that Cyprus will default on its debt and see its banks plunge into a liquidity crisis. Still, the markets managed to post solid gains Friday. Today's Markets The Dow Jones Industrial Average climbed 90.5 points, or 0.63%, to
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14512, the S&P 500 rose 11.1 points, or 0.72%, to 1557 and the Nasdaq Composite gained 22.4 points, or 0.7%, to 3245.
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It's been a wild week for the global markets. In what has become a theme in the past couple years, events in Europe have sent stocks rising and falling in fairly volatile trading. Indeed, the CBOE's VIX, sometimes referred to as Wall Street's fear gauge, has spiked some 20% this week. Cyprus teetered on the brink of financial ruin Friday. The country
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needs to find $7.5 billion to use as a down payment for a $13 billion international rescue required to stave off a debt default. A previous plan to levy bank deposits failed to garner any support in parliament earlier this week. Then a plea to Russia for a bailout in exchange for rights to certain natural resources also fell through as Moscow walked away from negotiations. However, the country's ruling party said a deal that is backed by the European could be on the horizon, according to a report from Reuters. A spokesperson for Cypriot President Nicos Anastasiades said the next few hours will "determine the future of this country." Anastasiades is currently locked in what the spokesperson called "hard negotiations" with the troika, which is composed of the European Council, European Central Bank and International Monetary Fund. The country's parliament is also set to vote on yet another plan to fund the bailout on the day. Time is running out quickly for Cyprus. The ECB said Thursday that it won't provide emergency liquidity to its banks after Monday if it doesn't receive an official rescue. In a sign of just how serious the issue is, Greek banks were in the process of acquiring deposits of branches of Cypriot banks in Greece, according to multiple media reports. Still, analysts at Barclays told clients Friday morning "market pressure and contagion from Cyprus to other periphery countries remain contained." That is a critical factor since Cyprus is not generally seen as systemically significant on its own, but trouble there could spark a selloff in Italian and Spanish bonds. Such a drop would send borrowing costs for the eurozone's third and fourth biggest economies jumping, and re-ignite a much more dangerous debt crunch that the ECB has been successful at containing since July. Perhaps in a sign of hopes that the Cyprus troubles will be fenced into the small island nation, yields on Italian, Spanish and even Greek debt fell slightly, while the euro advanced 0.42% to $1.2953. Also on the European front, a closely-watched report from the Ifo Institute showed German business sentiment unexpectedly dropping in March. The gauge fell to 106.7 in March from 107.4 the month prior. "The German economy remains on track in a challenging environment thanks to strong domestic demand," the Ifo report said. There were no significant economic reports due on the U.S. economy on Friday.
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In corporate news, Nike (NKE) shares soared more than 8% after the apparel-maker posted better-than-expected quarterly profits, and strong futures sales data. Energy futures were lightly changed. The benchmark U.S. crude oil contract rose 45 cents, or 0.49%, to $92.90 a barrel. Wholesale New York Harbor gasoline dipped 0.12% to $3.067 a gallon. In metals, gold slipped $7.40, or 0.45%, to $1,606 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.02% to 2683, the English FTSE 100 rose 0.23% to 6403 and the German DAX dipped 0.15% to 7921. In Asia, the Japanese Nikkei 225 plunged 2.4% to 12339 and the Chinese Hang Seng slipped 0.5% to 22115.
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Stocks: Higher on Cyprus hopes - Mar. 22, 2013
Stocks rise on Cyprus hopes

NEW YORK (CNNMoney)
U.S. stocks rose Friday on optimism that officials in Cyprus will reach a deal this weekend to rescue the nation's troubled banks. The Dow Jones industrial average gained 90 points, or 0.6%. The S&P 500 and the Nasdaq both gained 0.7%. The Dow is back above 14,500 and the S&P 500 is once again less than 1% away from the record high it set in October 2007. Despite Friday's advance, the major gauges all ended the week down a little less than 0.5%. All three indexes are up between 7% and 11% so far in 2013. Officials in Cyprus could make decisions on "the hard dilemmas" facing the country later Friday, according to a government spokesman. "This is being interpreted as a step towards a solution," said Frank Davis, director of sales and trading at LEK Securities. "We don't know what that solution will be, but there seems to be something in the works." Cyprus is facing a Monday deadline to come up with 5.8 billion in order to secure a 10 billion bailout from the European Union and International Monetary Fund. Talks between Russian officials and the Cypriot government broke up early Friday, with no agreement on a cash infusion that could help the island nation skirt a default. Nearly a third of the money in Cyprus' outsized banking sector is from Russian depositors.
Related: Russia bails on Cyprus
While a default is potentially disastrous for Cyprus, it wouldn't necessarily destabilize the European economy on its own. But investors are watching to see how the situation is resolved and if it could set a precedent for larger economies that may face similarly dire straits in the future. "One must be impressed with how well the markets have absorbed the still unresolved Cyprus situation," wrote Brown Brothers Harriman strategist Marc Chandler in a client note.
Related: Exxon nudges out Google! Pick your favorite stock
In corporate news, shares of Micron Technology (
MU, Fortune 500) spiked higher after the company's earnings blew past
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Stocks: Higher on Cyprus hopes - Mar. 22, 2013
estimates, sparking a slew of analyst upgrades. Shares of BP ( BP) rose after the oil giant said it was moving ahead with plans to buy back up to $8 billion of stock after completing the sale of its 50% stake in TNK-BP to Rosneft. Nike ( NKE, Fortune 500) shares surged after the apparel giant reported quarterly earnings on Thursday that beat expectations. Tiffany's ( TIF) stock jumped after the jewelry retailer reported a jump in quarterly profit.
Shares of BlackBerry ( BBRY) fell nearly 8%, revering gains from earlier in the week. The company's new Z10 smartphone, which has received mixed reviews, went on sale at AT&T ( T, Fortune 500) stores in the United States Friday.
Related: Fear & Greed Index slips back to greed
In the commodities market, oil prices edged higher while gold prices were little changed. The U.S. dollar fell versus the euro, British pound and Japanese yen. The yield on the 10-year Treasury note edged up to 1.93%. European markets ended mixed. London's FTSE 100 edged higher, while the DAX in Germany and France's CAC 40 both edged lower. The Ifo Business Climate Index for German manufacturing and trade slipped in March, as companies lost enthusiasm about their business outlook. But the index also showed that Europe's strongest economy continues to prevail, buoyed by domestic spending. Construction is at its strongest point since reunification of East and West Germany, more than 20 years ago. Asian markets ended mixed. The Shanghai Composite added 0.2%, while the Hang Seng lost 0.5% and the Nikkei declined 2.4%.
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Sensex snaps seven-day losing streak, up 23 points - The Hindu
Business Markets
Sensex snaps seven-day losing streak, up 23 points

PTI
The BSE benchmark Sensex on Tuesday snapped a seven-day losing streak by rising 23 points on buying by funds mainly in consumer durables and FMGC stocks ahead of monthly expiry in the derivatives segment amid a firming European trend. The Sensex closed 23.11 points up, or 0.12 per cent, to close at 18,704.53. The index moved between 18,758.88 and 18,612.37 points. The gauge had lost 890 points in last seven trading sessions. Similarly, the broad-based National Stock Exchange index Nifty rose by 7.75 points, or 0.14 per cent, to 5,641.60, after moving between 5,655.30 and 5,612.05. Brokers said trading sentiments improved on investors covering their pending long positions created in last seven sessions of losses before the settlement in derivatives segment on Thursday and some winding up their positions on ending of the current financial year. They said the market received another boost on reports of higher opening in Europe before US data that may show durable-goods orders increased and new-house sales held close to a four-year high last month.
PTI
Confidence among global investors also received booster after the government approved six FDI proposals, including that of AirAsia Investment, Malaysia, totalling over Rs 732 crore. The market will remain closed on Wednesday and Friday on account of Holi and Good Friday, respectively. In 30-BSE index components, 15 stocks closed higher led by Hindustan Unilever, ITC Ltd, Infosys, ICICI Bank, HDFC Bank, HDFC Bank, Bharti Airtel and Coal India. However, the most heavy on the benchmark Reliance Industries tumbled by 3.25 per cent to Rs 783.40, Hero
www.thehindu.com/business/markets/sensex-snaps-sevenday-losing-streak-up-23-points/article4551046.ece?css=print 1/2
3/26/13
Sensex snaps seven-day losing streak, up 23 points - The Hindu
MotoCorp by 2.69 per cent to Rs 1,572.50, Larsen and Toubro by 2.24 per cent to Rs 1,337 and BHEL by 1.76 per cent to Rs 176.30. The stock of Hindalco remained unchanged at Rs 88 in limited deals. Keywords: sensex, BSE, Bombay Stock Exchange, Nifty, NSE, National Stock Exchange, closing trade, stock broking, share trading
Printable v ersion | Mar 2 7 , 2 01 3 2 :3 3 :4 3 AM | http://www.thehindu.com /business/m arkets/sensex-snaps-sev enday -losing-streak-up-2 3 -points/article4 551 04 6 .ece The Hindu
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Dow Rallies to New High as Cyprus Fears Ebb | Fox Business


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FOX Business: Capitalism Lives Here The blue-chip average logged a fresh record closing high as traders grew less anxious about the situation in Cyprus and mulled a batch of mixed data. Meanwhile, the broader S&P 500 came within just points of its all-time peak. Today's Markets The Dow Jones Industrial Average climbed 111.9 points, or 0.77%, to 14560, the S&P 500 gained 12.1 points, or 0.78%, to 1564 and the Nasdaq Composite rose 17.2 points, or 0.53%, to 3252. After a quiet day on the data front Monday, the pace of releases picked up significantly Tuesday. The Commerce Department said orders for long-lasting goods climbed 5.7% in February from January, outpacing estimates of a 3.8% increase. Excluding the transportation segment, orders were down 0.5%, missing estimates of a 0.5% increase.
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The report on long-lasting goods provides a snapshot of demand for a wide range of items and will factor into the first-quarter gross domestic product reading. Indeed, it sparked upward revisions to Barclays' and Goldman Sachs' first-quarter economic growth forecasts. Home prices in 20 U.S. metropolitan areas rose 0.1% in January from December on a non-seasonally-adjusted basis, according to the S&P/Case-Shiller home price report. Economists expected a slightly larger increase of 0.2%. Prices climbed 8.1% from the same month in 2012, topping estimates of a 7.9% rise. A separate report from Commerce showed sales of new single-family RECENT QUOTES homes dropped 4.6% in February to a seasonally-adjusted annual rate of 411,000 units. Economists had expected sales to fall to 422,000-unit rate last month. The housing market has been showing signs of recovery recently, helped by low interest rates and a recovering economy. However, economists say the rebound from the collapse of the housing bubble is likely to proceed at only a modest pace. The Conference Board reported its index of consumer attitudes fell to 59.7 from a downwardly-revised 68 in February. The figure fell short of economists' expectations of 68. The markets zigzagged Monday, with traders digesting news suggesting the Cyprus bailout that utilized funds from bank deposits as a down payment would be a template for the future. However, in comments to FOX Business, several European Union officials downplayed that theory, saying the situation there "unique." The European Union still remained a focus as banks in Cyprus remained closed until Thursday as the country worked to wind down its second-biggest lender, protect insured deposits and prevent what could still be a catastrophic bank run. "Calm has finally descended after the turmoil of the Cyprus bailout, but the damage to investor confidence has been done," Chris Beauchamp, a market analyst at IG wrote in an e-mail. Elsewhere, oil and gasoline futures pushed higher. The benchmark U.S. crude oil contract rose 53 cents, or 0.56%, to $95.34 a barrel. Wholesale New York Harbor gasoline edged up 0.17% to $3.077 a gallon. In metals, gold fell $7.40, or 0.47%, to $1,599 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.01% to 2649, the English FTSE 100 rose 0.1% to 6286 and the German DAX gained 0.19% to 7885.
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In Asia, the Japanese Nikkei 225 slumped 0.6% to 12472 and the Chinese Hang Seng climbed 0.27% to 22311. Follow Adam Samson on Twitter @adamsamson.
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After a fall sensex gains 131 points - The Hindu
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After a fall sensex gains 131 points

PTI
The BSE benchmark Sensex on Thursday closed 131 points higher on fag-end buying by funds mainly in metal, capital goods, consumer durables, PSU and banking stocks amid expiry of the monthly derivatives contract. After falling over 136 points in early trade, the 30-share index, rebounded on the back of buying in heavy-weight stocks to close at 18,835.77, a rise of 131.24 points or 0.70 per cent. During the session, it touched a high of 18,882.54. It had gained 23.11 points in the previous session on Tuesday. The market remained closed yesterday for Holi festival. The wide-based National Stock Exchange index, Nifty spurted by 40.95 points, or 0.73 per cent, to 5,682.55 after moving between 5,604.85 and 5,692.95. Stocks recovered in the second half of session as buying interest emerged at current levels amid covering-up of short positions by speculators on the last day of March month expiry in the derivatives segment, said Manoj Choraria, a Delhi-based stock broker. On the gainers side, Hindalco closed 3.98 per cent higher at Rs 91.50, Sterlite Industries by 2.91 per cent to Rs 93.80, GAIL India by 5.02 per cent to Rs 319.15, Infosys gained 1.25 per cent to Rs 2,889.90, ICICI Bank up 2.37 per cent to Rs 1,045.35, HDFC Bank by 2.780 per cent to Rs 631, while State Bank of India by 1.04 per cent to Rs 2,072.75. Shares of Novartis India rose by 3.75 per cent to close Rs 598.80 after company said its Swiss-promoter Novartis AG intends to reduce its stake in the Indian entity to enable it to meet SEBI guidelines on the minimum public shareholding in the listed companies. Metal, capital goods, power, consumer durables, bank and PSU sector shares saw heavy buying, contributing major support to the benchmark Sensex. Sectorally, the Metal sector index gained the most by rising 2.69 per cent, followed by capital goods index (2.17 per cent), consumer durables sector index (1.89 per cent) and banking index (1.66 per cent). Bucking the trend, energy giant Reliance Industries (RIL) continued its losing streak for yet another session and lost another 1.24 per cent to Rs 773.70, Hero MotorCorp shed 1.95 per cent to Rs 1,541.90 and Bharti Airtel declined 1.77 per cent to Rs 291.80. Brokers said revival of buying after recent losses on worries over the political stability, and covering-up of pending short positions on the last day of March month expiry in the derivatives segment attributed rebound in stock prices. Besides, a higher opening in the European market also supported the recovery on the domestic boures here, they said. The BSE and the NSE will remain closed tomorrow on account of Good Friday. Keywords: sensex, Novartis India
Printable v ersion | Mar 2 9 , 2 01 3 1 0:00:04 AM | http://www.thehindu.com /business/m arkets/after-a-fall-sensex-gains-1 3 1 -points/article4 55803 7 .ece The Hindu
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1/1
3/29/13
Stocks: S&P 500 finally hits new record high - Mar. 28, 2013
What a quarter! Dow and S&P at record highs

NEW YORK (CNNMoney)
Finally. Stocks wrapped up a stellar first quarter Thursday with the S&P 500 finishing at a new high, after flirting with the milestone for weeks. The benchmark index gained 6 points, or 0.4%, to end at a record close of 1569.19, inching above its previous record of 1565.15 from October 2007. Despite the new milestone, trading was relatively calm and light as investors monitored the ongoing crisis in Cyprus and mulled over new economic data in the United States. The Dow Jones industrial average and the Nasdaq rose just a little over 0.3%. The markets will be closed tomorrow in the United States and most of Europe for Good Friday. But the first quarter of 2013 has been far from quiet. The Dow, which has been trading at record highs since early March, rallied more than 11% and booked its best first quarter since 1998. The S&P 500 soared 10% and the Nasdaq was up 8%.
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The biggest gains were logged in January, but March has been a solid month for stocks as well, with all three indexes rising more than 3%. Stocks continued to rally in the holiday-shortened week despite Cyprus concerns. The Dow rose 0.5% for the week, while the S&P 500 added 0.8% and Nasdaq rose 0.7%. Despite the big run-up this year, experts argue that valuations remain attractive for U.S. stocks. The S&P 500 is trading at just 16 times 2012 earnings. At its all-time high in October 2007, the S&P 500's valuation was just above 17 times profits for the past 12 months. And looking at earnings projections, stocks still appear reasonably valued. The S&P 500 is trading at just 14 times 2013 estimates.
Related: What's next for the markets?
Winners and losers: The best-performing stock in the S&P 500 during the quarter was Netflix ( NFLX). Shares have more than doubled in the last few months as investors have become optimistic about the company's growth prospects, despite a series of missteps over the last couple of years. Best Buy ( BBY, Fortune 500) and Hewlett-Packard ( HPQ, Fortune 500), struggling companies that are in the middle of turnaround efforts, were the next strongest performers, with shares up 87% and 68%
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respectively. Some of the weaker links were JC Penney ( JCP, Fortune 500), which is having more trouble than success with its makeover plan, as well as coal company Peabody Energy ( BTU, Fortune 500) and mining firm Cliffs Natural Resources ( CLF, Fortune 500).
Fear & Greed Index gets greedy
Cyprus banks back to business: Banks in Cyprus reopened Thursday morning after being closed since March 16. The island nation plans to limit the amount of money that depositors can withdraw in an attempt to prevent bank runs. Cyprus agreed early Monday to raise billions of euros from big depositors at the Bank of Cyprus and Popular Bank of Cyprus, and to shrink its banking sector in return for a 10 billion European Union bailout.
Related: Bitcoin prices surge post-Cyprus bailout
U.S. economy humming along: Back in the United States, the government released its weekly data on initial jobless claims and its final reading on fourth-quarter GDP. Jobless claims totaled 357,000 in the week ended March 23, an increase of 16,000 from the prior week and much worse than expected. The forecast called for a total of 335,000, according to a consensus of economists complied by Briefing.com. The final government report for fourth-quarter GDP showed an annual increase of 0.4%, slightly higher than the expected increase of 0.3%. The prior reading showed the economy grew at a 0.1% pace. What's moving: Blackberry ( expectations. BBRY) slipped after the smartphone maker reported a surprise profit, but sales that fell short of
Shares of eBay ( EBAY, Fortune 500) climbed 4% after the company's marketplaces chief Devin Wenig revealed plans to nearly double eBay's user base by 2015 and expectations of $110 billion in marketplace sales. Pinnacle Foods ( PF), owner of brands including Duncan Hines and Birds Eye, rose 11% in its stock market debut. Pinnacle raised $580 million in its initial public offering after pricing shares at the high end of its range. The company is backed by private equity firm Blackstone ( BX). Shares of Deckers Outdoor ( DECK), which owns the Ugg boots brand, jumped after an analyst at Jefferies upgraded the stock and gave it a price target of $100 a share, nearly double its current price. Dollar pulls back: European markets finished with solid gains, while Asian markets ended lower. The dollar fell against the euro, British pound and the Japanese yen. Oil prices gained slightly, while gold prices edged lower. The price on the 10-year Treasury rose slightly, and the yield held steady at 1.85%. What's buzzing: Wall Street strategists are betting the rally will continue. Wells Fargo Advisors increased its year-end 2013 target range for the S&P 500 to 1575-1625 from an earlier forecast of 1525-1575. "Investors now appear to be more focused upon the potential for continuing global economic growth, said Scott Wren, senior equity strategist at Wells Fargo Advisors. "We anticipate investor confidence will continue to lift, slowly catching up with consumer confidence."
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Dow, S&P Cap Historic 1Q at Record Closing Highs | Fox Business


Crisis in Cyprus The Cyber Threat Sequestration Retirem ent Regulation Nation
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FOX Business: Capitalism Lives Here Wall Street continued bouncing back from the worst financial crisis since the Great Depression in the first quarter, with the blue chips zooming into uncharted territory in the best annual kick off in 15 years. Today's Markets
1 Jobless Claims Rise More Than Expected

2 The NCAAs Sweet 16 -- In Dollars
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4 Banks Reworking Loans, Cutting Foreclosures
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The Dow Jones Industrial Average climbed 52.4 points, or 0.36%, to 14579, the S&P 500 gained 6.3 points, or 0.41%, to 1569 and the Nasdaq Composite advanced 11 points, or 0.34%, to 3268.
14.44
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For the quarter, the Dow soared 11.3%, the S&P 500 leapt 10% and the Nasdaq jumped 8.2%. With the markets closed for Good Friday, Thursday is the last trading day of the first quarter. It has been a strong one for equities, with the Dow surging 11% in its best first-quarter run since 1998. The broader S&P 500 has rallied nearly 10%. The Dow zoomed into uncharted territory earlier in the quarter, while the S&P 500 tilted up above its record close -- both notched in October 2007.
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Europe continued garnering a good deal of traders' attention early in the day. Banks in Cyprus finally re-opened after being closed for 11 days in a bid to avoid a deposit run. Despite strict capital controls and security worries, the openings took place in relative calm, according to FOX Business reporters and producers on the ground. While the situation might be brightening across the island nation, the bail-in that levied uninsured deposits has sparked concern that such a solution will be a template for other countries, according to analysts. In a sign of how the eurozone's troubles aren't confined to periphery countries, Germany, the bloc's biggest economy, saw unemployment jump by 13,000 people. Economists expected unemployment to fall by 4,000. There are also a slew of reports due out on the U.S. economy. A final reading on U.S. gross domestic product from the Commerce Department showed the economy expanded at an annualized rate of 0.4% in the fourth quarter, up from an initial estimate of 0.1% growth, but below the 0.5% expected. Economists at essentially every large investment bank expect growth to pick up markedly in the first quarter of this year. A report from the Labor Department showed weekly jobless claims jumping by 16,000 to 357,000, considerably higher than estimates of 340,000. The Institute for Supply Management-Chicagos PMI gauge fell to 52.4 in March from 56.8 in February, missing the 56.5 reading economists forecast. Readings above 50 point to expansion in the Midwest manufacturing sector, while those below indicate contraction. In corporate news, BlackBerry (BBRY) unexpectedly posted an adjusted profit of 22 cents a share, easily besting estimates of a loss of 29 cents. Revenues of $2.7 billion came in slightly shy of estimates of $2.8 billion, however. Energy futures were little changed. The benchmark U.S. crude oil contract climbed 11 cents, or 0.11%, to $96.69 a barrel. Wholesale New York Harbor gasoline dipped 0.52% to $3.099 a gallon. In metals, gold fell $6.20, or 0.39%, to $1601 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.47% to 2625, the English FTSE 100 jumped 0.71% to 6433 and the German DAX advanced 0.34% to 7816.
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In Asia, the Japanese Nikkei 225 sold off 1.3% to 12336 and the Chinese Hang Seng dipped 0.74% to 22300. Follow Adam Samson on Twitter @adamsamson.
At What Yearly Mileage Does Your Car Insurance go up? Five Collectibles to Stash for Big Cash Later 8 Mistakes that Will Prevent Your Hom e from Selling Dow Clim bs Deeper Into Record Territory Cyprus Worries Weigh on Wall Street Gold Falls Below $1,600, Bernanke Gives Unem ploym ent Prediction
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Closing Bell Im us in the Morning Lou Dobbs Tonight Markets Now Money w ith Melissa Francis Stossel Tom Sullivan Varney & Com pany The Willis Report Quotes delayed at least 15 minutes. Real-time quotes provided by BATS Exchange. Market Data provided by Interactive Data ( Term s & Conditions ). Pow ered and Implemented by Interactive Data Managed Solutions . Company fundamental data provided by Morningstar . Earnings estimates data provided by Zacks. Mutual fund and ETF data provided by Lipper . Economic data provided by Econoday. Dow Jones & Company Terms & Conditions. This material may not be published, broadcast, rew ritten, or redistributed. 2013 FOX New s Netw ork, LLC. All rights reserved. Advertise With Us Jobs at Fox Business Internships Term s of Use Privacy Statem ent Ad Choices FAQ Media Relations Google+ LinkedIn RSS New sletters
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Sensex regains 19k level; RIL, Sun Phrama lead gains - The Hindu
Business Markets
Sensex regains 19k level; RIL, Sun Phrama lead gains

PTI
Rising for the fourth straight day, the BSE benchmark Sensex on Tuesday jumped by 176 points to regain 19,000mark after two weeks on sustained buying in bluechips like RIL, Sun Pharma, L&T and SBI after government said it will continue to argue for lowering of interest rates by RBI. Stock markets, which had of late lost vigour on concerns like RBI having little room to cut rates further, shrugged off sluggishness after Finance Minister P. Chidambaram reiterated Indias commitment to additional economic reforms and the governments pro growth stance. The Sensex closed 176.20 points higher, or 0.93 per cent, at 19,040.95, a level last seen on March 18. The index had gained around 183 points in past three sessions. All-round buying was seen as all 13 sectoral indices closed with gains up to 2.07 per cent. Metal, refinery, capital goods, pharma and PSU counters took lead while 23 out of 30 Sensex-based stocks closed up. RIL jumped over 2 per cent after billionaire Ambani brothers joined hands for telecom biz. Sun Pharma and Wipro gained over 4 per cent each. L&T gained 2 per cent after its construction arm bagged orders worth Rs 3,700 crore in March. Sterlite Ind. gained 3.8 per cent after Supreme Court refused to direct closure of Tuticorin plant and set aside Madras HCs 2010 order on closing it down. The apex court, however, asked it to pay Rs 100 crore as compensation. Markets rose today with benchmarks up by less than 1 per cent on the back of strong individual performances. Market focus would now be on the upcoming earnings season, government policy moves in Budget session and global developments, said Dipen Shah, Head of PCG Research, Kotak Securities. The 50-issue CNX Nifty of the NSE also improved further by 43.70 points or 0.77 per cent, to end at 5,748.10. Second-line shares continued to outperformed the Sensex on heavy buying by retail investors as the BSE-Smallcap and BSE-Midcap indices closed with a rise of 2.28 per cent and 1.43 per cent respectively. Globally, Asian shares ended mixed after reports of unexpectedly weak US factory data raised investor caution ahead
www.thehindu.com/business/markets/sensex-regains-19k-level-ril-sun-phrama-lead-gains/article4573272.ece?css=print 1/2
4/2/13
Sensex regains 19k level; RIL, Sun Phrama lead gains - The Hindu
of new indicators that could flag falling economic momentum. Key benchmark indices in Hong Kong, Singapore and Taiwan rose in 0.18-0.31 per cent range while China, South Korea and Japan fell in 0.30-1.08 per cent. Europe was trading higher in early trade with key indices in France, Germany and London moving up by over 1.0 per cent. Turning to the local market, major gainers were Sun Pharma (4.61 pc), Wipro (4.28 pc), Sterlite Ind (3.79 pc), ONGC (2.76 pc), Jindal Steel (2.53 pc), SBI (2.37 pc), RIL (2.03 pc), Maruti (1.99 pc), Cipla (1.98 pc), L&T (1.98 pc), Tata Steel (1.70 pc), BHEL (1.68 pc), Hindalco (1.53 pc), Coal India (1.13 pc), HDFC Bank (0.99 pc) and Infosys (0.91 pc). Auto stocks like M&M and Tata Motors also recovered after showing initial weakness post weak sales numbers, said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio. Sectorally, the metal index gained the most by 2.07 per cent, followed by oil and gas index (1.99 pc), capital goods index (1.88 pc) and healthcare index (1.82 pc). Midcaps and smallcaps are seeing fresh round of buying interest. Certain stocks in this segment may surprise with their rise in the coming days. Market analysts may fail to find out the news or reasons behind such a rise, said Milan Bavishi, Head Research, Inventure Growth and Securities. Total market breadth remained positive as 1,953 stocks ended higher and 827 stocks finished lower. 116 ruled steady. Total turnover rose to Rs 1,801.06 crore from Rs 1,703.44 crore on Monday. Meanwhile, Foreign Institutional Investors (FIIs) bought shares worth a net Rs 313.07 crore on Monday, as per provisional data from the stock exchanges. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade
Printable v ersion | Apr 2 , 2 01 3 1 1 :50:2 3 PM | http://www.thehindu.com /business/m arkets/sensex-regains-1 9 k-lev el-ril-sun-phram a-lead-gains/article4 57 3 2 7 2 .ece The Hindu
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Stocks: Dow hits record high - Apr. 2, 2013
Dow, S&P close at new highs on health care rally

By Julianne Pepitone @CNNMoneyTech April 2, 2013: 4:55 PM ET
Click the chart for more on stocks.
NEW YORK (CNNMoney)
Strength in the health care sector gave stocks a shot in the arm Tuesday, pushing the Dow and S&P 500 to new record highs. All three major indexes closed at least 0.5% higher. The Dow Jones industrial average hit two new records: an intraday high of about 14,684, and a record close at 14,662. The S&P 500 closed at a record high of 1,570. The Dow and S&P have hit several new records during a solid 2013. Even with a slight retreat Monday, all three indexes are still up between about 8% and 12% for the year. Tuesday's rally was fueled by the health care sector, one day after the government announced welcome news for the industry: Medicare Advantage rates will jump by 3.3% next year, rather than the 2.3% cut that had been proposed previously. Shares of insurers Humana ( HUM, Fortune 500), United Health ( closed about 4% to 6% higher.
Related: Expect the bond bubble to fizzle, not pop
UNH, Fortune 500) and Aetna (
AET, Fortune 500)
As the bull market continues, some analysts are worried that stocks are due for a major correction. Famed investor Wilbur Ross, however, says the market is "fairly priced." "I think the market is where it should be right now," Ross told CNNMoney. "That doesn't mean there won't be volatility, but I don't think current levels are overdone or underdone." Outside of the big move in health care stocks, there was little else on the corporate or economic docket Tuesday. The Census Bureau reported that factory orders jumped 3% in February. That was slightly better than expected, and follows an underwhelming report on U.S. manufacturing Monday. Major automakers reported solid monthly sales figures for March. Auto sales at General Motors ( GM, Fortune 500), Ford ( F, Fortune 500) and Chrysler all posted U.S. sales gains of 5% or better, while Toyota ( TM) sales edged up 1% from a year ago. Chrysler posted its best sales month since December 2007.
4/2/13
Stocks: Dow hits record high - Apr. 2, 2013
Related story: CNNMoney's Hot Stocks
Not all sectors were flying high Tuesday. Tech received a few spots of bad news, courtesy of Goldman Sachs analysts. Hewlett-Packard ( HPQ, Fortune 500) shares slid 5% after Goldman downgraded the company to "sell."
Goldman also kicked Apple ( AAPL, Fortune 500) off its "conviction buy" list and cut the price target to $575 from $600. Still, the investment firm is retaining its "buy" rating for Apple, whose shares closed slightly higher Tuesday. Nasdaq ( NDAQ) shares slumped 13% after the exchange operator said it planned to buy eSpeed, an electronic market for Treasuries, from BGC Partners. Investors may be punishing Nasdaq for paying a whopping $1.2 billion. BGC ( BGCA) shares, meanwhile, soared 47%.
Related: Fear & Greed Index steeped in greed
European markets closed higher, while Asian markets ended mixed. The Hang Seng added 0.3% while the Nikkei dropped 1.1% and the Shanghai Composite lost 0.3%. Commodities, including oil and gold, were lower, while the yield on the U.S. Treasury 10-year note ticked up to 1.86%.
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Strong Auto Sales Whet Wall Street's Buying Appetite | Fox Business

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Strong Auto Sales Whet Wall Street's Buying Appetite

Pub lished April 02, 2013 FOXBusiness

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FOX Business: Capitalism Lives Here The Dow and S&P notched fresh closing highs Tuesday after a round of strong monthly auto sales data left traders feeling optimistic about the U.S. economy. Today's Markets
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1 Gold Sells Off as Traders Bid Up Stocks

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The Dow Jones Industrial Average jumped 89.2 points, or 0.52%, to 14670, the S&P 500 climbed 8.1 points, or 0.52%, to 1570 and the Nasdaq Composite gained 15.7 points, or 0.48%, to 3255. Wall Street kicked off the second quarter on a fairly weak note Monday, with the markets posting mild losses. However, sentiment across global trading desks brightened Tuesday. The "Big Three" U.S. automakers also posted their best monthly results in five years.
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Stocks Have Room to Run Despite Robust 1Q Fed's QE Weakens the Dollar, Study Show s
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General Motors (GM) and Ford (F) both revealed 6% increases in monthly sales in March, while Chrysler saw a 5% rise. Larry Kantor, head of research at Barclays (GS), said at a recent press conference that auto sales actually represent one of the best measure of the U.S. economy because they are timely and and do not get revised. Euro Fears Ebb Markit's final eurozone PMI reading clocked in at 46.8 for March, just slightly higher than a flash estimate of 46.6, but lower than 47.9 from the month before. The data suggest the 17-member currency bloc's manufacturing sector contracted at the swiftest pace in three months in March. Germany, the bloc's biggest economy, saw its PMI come in at 49 -- a two-month low -- but right on the border of 50 that separates expansion from contraction. &quotThe surveys paint a very disappointing picture across the region, with all countries either seeing sharper rates of decline or in the cases of Germany and Ireland sliding back into contraction,&quot Chris Williamson, chief economist at Markit, wrote in a report. While the numbers point to ongoing struggles in the eurozone, Michael Block, chief equity strategist at Phoenix Partners Group, said European markets actually reacted positively to them. There is a &quotsense of relief&quot that the near collapse of the banking system in Cyprus didn't completely stunt business activity, he said. Block also said the situation on the island nation appears to be "not so bad" after all. Indeed, the benchmark index there sold off by a relatively modest 2.6% in its first trading day since the country's bailout by international lenders. On the U.S. front, the docket of data was fairly light. The Commerce Department said orders for manufactured goods increased 3% in February from the month before, slightly higher than the 2.9% rise economists had expected. However, orders excluding transportation equipment increased just 0.3%. Meanwhile, in corporate news, Goldman Sachs (GS) cut Apple (AAPL) from its conviction buy list, although kept a &quotbuy&quot rating on the stock.
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Today
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Elsewhere, energy futures were little changed. The benchmark crude oil contract traded in New York rose 11 cents, or 0.11%, to $97.17 a barrel. Wholesale New York Harbor gasoline dipped 0.35% to $3.091 a gallon. In metals, gold slumped $4.10, or 0.26%, to $1,597 a troy ounce. Foreign Markets The Euro Stoxx 50 jumped 1.1% to 2653, the English FTSE 100 rallied 1.1% to 6480 and the German DAX soared 1.2% to 7890. In Asia, the Japanese Nikkei 225 sold off 1.1% to 12003 and the Chinese Hang Seng rose 0.31% to 22368.
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Stocks Climb After BoJ Unleashes Massive Stimulus Plan | Fox Business

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Stocks Climb After BoJ Unleashes Massive Stimulus Plan

By Adam Samson Pub lished April 04, 2013 FOXBusiness

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FOX Business: Capitalism Lives Here Wall Street posted solid gains on Thursday after the Bank of Japan unveiled an aggressive plan aimed at jumpstarting the island nation's flagging economy. However, traders remained cautious after a round of weak data on the jobs market. Today's Markets The Dow Jones Industrial Average rose 55.8 points, or 0.38%, to 14606, the S&P 500 gained 6.3 points, or 0.4%, to 1560 and the Nasdaq Composite ticked up 6.4 points, or 0.2%, to 3225. The Dow climbed Thursday, completing its eleventh up-down-up-down pattern day -- something that has only happened three other times since 2000, according to FOX Business research. The Japanese economy has been stuck in neutral for two decades, with Tokyo struggling with a toxic mixture of deflation and low growth that is often very difficult to combat. However, new BoJ Governor Haruhiko Kuroda has vowed to jumpstart the island nation's economy and start creating modest levels of inflation by setting a 2% year-over-
1 Jobless Claims at 4-Month High

2 HP chairman Lane resigns, Whitworth takes over for now
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year target. On Thursday, Kuroda unveiled a $1.4 trillion open-ended bond buying program in which the central bank will buy debt across the yield curve over the next two years. The move is similar to the Federal Reserve's quantitative easing program and represents what many economists see as an extension of unconventional monetary policy that began during the financial crisis. Todd Schoenberger, managing partner at LandColt Capital, called Japan's new plans "very aggressive" and said it comes as "wonderful news from a trader's perspective." Indeed, the Nikkei 225 surged 2.2%, and the U.S. dollar rallied 2.6% against the yen. However, Schoenberger warns that when the BoJ finally does begin unwinding the unprecedented program years from now, it can present a problem for equity markets. In U.S. news, the Labor Department said new claims for unemployment benefits increased by 28,000 to 385,000 last week. Claims were expected to fall from 357,000 to 350,000. Meanwhile, firms announced plans to cut 49,255 jobs in March, down 11% from February, but up 30% from the same month in 2012, according to Challenger, Gray & Christmas, Inc. The all-important monthly jobs report is on tap for Friday. Economists forecast the U.S. economy to have tacked on 200,000 jobs in March, with the unemployment rate holding steady at 7.7%. A weaker-thanconsensus report on private payrolls from ADP on Wednesday has some economists paring back expectations for the government's report. On the European front, the European Central Bank held its main refinancing rate at 0.75% as expected. ECB President Mario Draghi said at a press conference that the central bank stands ready to keep its foot on the monetary accelerator as long as needed. The Bank of England also held its benchmark rate at 0.5% and the scope of its quantitative easing program at 375 billion pounds. In commodities, oil and gasoline futures sold off for the second session in a row. The benchmark U.S. crude oil contract slid $1.44, or 1.5%, to $93.02 a barrel. Wholesale New York Harbor gasoline slumped 0.83% to $2.888 a gallon. Gold fell $4.80, or 0.32%, to $1,549 a troy ounce after logging the lowest settle of the year Wednesday. Foreign Markets The Euro Stoxx 50 rallied 1.1% to 2668, the English FTSE 100 fell 0.19% to 6407 and the German DAX rose 0.62% to 7924.
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Stocks bounce back after worst week of 2013 - Apr. 8, 2013
Stocks bounce back after worst week of 2013

By Hibah Yousuf @CNNMoneyInvest April 8, 2013: 4:41 PM ET
NEW YORK (CNNMoney)
U.S. stocks cut their morning losses and finished higher Monday, rebounding from one of their worst weeks of the year. But the gains were slim as investors gear up for first quarter earnings reports. The Dow Jones industrial average edged up 0.3% while the S&P 500 and Nasdaq gained 0.6%. Kick-off to earnings: Investors will be shifting gears this week to first-quarter earnings. Aluminum producer Alcoa ( AA, Fortune 500) unofficially kicked things off with its quarterly report after the closing bell. The Dow component posted earnings that topped forecasts. But sales were below estimates. JPMorgan Chase ( JPM, Fortune 500) and Wells Fargo are on tap for Friday. They are the first two of the big banks to report. Overall, analysts are forecasting first-quarter earnings to be up just 1.5% compared with a year earlier, according to Thomson Reuters. The results over the next few weeks "will likely determine whether investors take profits on a huge Q1 stock market rally, or continue to pile on long positions to prepare for a potential continued run higher," said analysts at Lido Isle Advisors. Rally hits speed bump: Stocks have lost steam in the last few weeks, on renewed worries about Europe, softer U.S. economic data, particularly the March jobs report, and concerns about the nuclear threat from North Korea. But following this year's huge rally and new record highs for the Dow and S&P 500, experts say a pause is normal. Any pullback could also be the start of a short-term correction "that will wring out some of the excesses that have crept into the market, most notably overly optimistic sentiment," said William Riegel, head of equity investments at TIAA-CREF.
Related: It's going to be a tough quarter for banks
What's moving: General Electric ( GE, Fortune 500) said it planned to buy energy company Lufkin Industries ( billion. Shares of Lufkin, which builds and maintains equipment for oil and gas wells, surged nearly 38%.
LUFK ) for $3.3
Anheuser-Busch InBev's ( BUD) proposed $20 billion acquisition of Mexican brewer Grupo Modelo appears to be back on track after the companies, along with Constellation Brands ( STZ) and Crown Imports, said they'd reached an agreement that would settle the Justice Department's objections to the deal.
money.cnn.com/2013/04/08/investing/stocks-markets/index.html 1/2
4/9/13
Stocks bounce back after worst week of 2013 - Apr. 8, 2013
Shares of Biocryst Pharmaceutical ( BCRX) climbed 13% after China's Food and Drug Administration expedited the approval of the company's anti-influenza medicine Peramivir amid a bird flu outbreak.
Related: Fear & Greed slides into neutral
Global pressures: Portugal plans to cut spending on education, health and welfare in a bid to meet the terms of an international rescue after the country's constitutional court shot holes in its austerity program. Despite a sell-off in Portuguese stocks, the main European markets ended slightly higher. Meanwhile, tensions remain high in Korea as the region waits uneasily for Kim Jong Un's next move. Asian markets ended mixed. The Shanghai Composite closed down 0.6%, while the Hang Seng advanced 0.1%. The Nikkei continued to rally, adding another 2.8%, as investors cheered new stimulus measures from the Bank of Japan. The yen weakened against the U.S. dollar, falling to its lowest level since 2009. The dollar fell against the euro but gained ground versus the British pound. Oil prices rose slightly, while gold edged lower. The price of the 10-year Treasury edged lower, pushing the yield up to 1.75% from 1.69% late Friday.
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4/9/13
Dow closes at new record high - Apr. 9, 2013
Dow closes at new record high

By Maureen Farrell @CNNMoneyInvest April 9, 2013: 4:33 PM ET
NEW YORK (CNNMoney)
Stocks gained traction Tuesday afternoon, pushing the Dow to a new record closing high. The Dow Jones Industrial Average added 0.4% to end at a new high of 14,673. Earlier the index hit an intraday record high of 14,716. Microsoft ( MSFT, Fortune 500) and Intel ( INTC, Fortune 500) were among the biggest gainers on the blue chip index. The S&P 500 and the Nasdaq edged up between 0.4% and 0.5%. Solar stocks got a big boost after First Solar issued much-better-than expected guidance. Shares of First Solar ( more than 45%. Solar energy ETFs, including Guggenheim Solar ETF ( company SunPower ( SPWR). TAN ) and Market Vectors ETF ( FSLR) soared
KWT) spiked, as did solar power
In other corporate news, J.C. Penney ( JCP, Fortune 500) shares tumbled after the retailer announced that it was replacing CEO Ron Johnson with his predecessor, Mike Ullman. More than 89 million shares traded by the close -- more than eight times the average trading volume for an entire day. Meanwhile, Herbalife ( HLF) announced that KPMG had resigned as its auditor because of an alleged insider trading scheme in Herbalife stock that involved one of KPMG's former partners. After being halted for most of the morning, Herbalife's shares closed down 4%. Analysts at DA Davidson downgraded the stock Tuesday afternoon. KPMG also resigned as the auditor of Skechers ( SKX) as part of the same alleged insider trading situation. After being halted in the morning, Skechers' shares jumped 2% once they resumed trading. Shares of real estate brokerage firm Realogy ( RLGY) dropped nearly 9% in after hours trading, after the parent company of Century 21 and Coldwell Banker announced preliminary first quarter results that missed estimates. Investors are waiting for more corporate results after Alcoa ( AA, Fortune 500) unofficially kicked off earnings season late Monday. The aluminum producer, which beat analysts' earnings expectations, is often considered a proxy for corporate results. Over the past 10 years, when Alcoa beat earnings estimates, the S&P 500 rose an average 4.4% during the following three
4/9/13
Dow closes at new record high - Apr. 9, 2013
months, according to FactSet, which forecast overall earnings growth to contract 0.6%. But Dan Greenhaus, chief global strategist with BTIG, noted that there have been four times as many negative preannouncements than positive ones.
Related: A tough quarter for banks
Mega-banks JPMorgan Chase ( week.
JPMPRI) and Wells Fargo (
WFC, Fortune 500) are set to release quarterly results later this
After this year's strong run, most analysts expect investors to periodically tap on the brakes. All three major indexes have rallied 8% to 12% since January, and the Dow and S&P 500 have both set new record highs this month.
Related: Fear & Greed index idles in neutral
With little U.S. economic news on the calendar, investors also grappled with mixed reports on the health of the global economy. Reports showed that inflation in China was falling, yet stalled growth in the eurozone continues to worry investors. Exports out of Germany fell faster than expected in February. European markets closed mixed, helped by news of falling inflation in China, which also boosted the Shanghai Composite and the Hang Seng. Japan's Nikkei was flat. The dollar fell against the euro, the British pound and the Japanese yen. Oil and gold prices rose nearly 1%. The yield on the 10-year Treasury hovered around 1.75%.
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Dow Logs Fresh Record Close on Strong China Data | Fox Business

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FOX Business: Capitalism Lives Here The blue-chip average notched a fresh record close on Tuesday after data suggesting price pressure in China is in check overshadowed a weak U.S. wholesale inventory reading.
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According to preliminary calculations, the Dow Jones Industrial Average rose 60 points, or 0.41%, to 14673., the S&P 500 gained 5.5 points, or 0.35%, to 1569 and the Nasdaq Composite climbed 15.6 points, or 0.48%, to 3238.
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Retail-level inflation in China fell to a year-to-year rate of 2.1% in March from 3.2% the month before. Economists expected a reading of 2.4%. The data "put to bed any fears that the Peoples Bank of China will hike interest rates," David Madden, a market analyst at IG in London wrote in an e-mail. That comes as good news to many traders who have worried that the
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However, counterbalancing those data, was a weaker-than-expected wholesale inventories report. Wholesale inventories slumped 0.3% in February from the month before, compared to expectations of a 0.5% gain. It was the biggest decline since September 2011. Inventories are generally seen as an indicator of expected demand. On the U.S. front, Alcoa (AA) unofficially kicked off earnings season with mixed results. The blue-chip aluminum maker revealed adjusted first-quarter profits of 11 cents a share, topping expectations of 8 cents. Meanwhile, revenues came in at $5.8 billion, shy of expectations of $5.88 billion. J.C. Penney (JCP) ousted Apple (AAPL) alumnus Ron Johnson from its top spot, installing its former chief executive, Mike Ullman, at the helm. Traders panned the news, sending the stock sinking close to 10%. Still, analysts at Citigroup (C) told clients Tuesday Ullman is a "strong choice" based on his deep experience in retail and at struggling Penney. Elsewhere, energy and gasoline futures were in the green. The benchmark U.S. crude oil contract rose 21 cents, or 0.22%, to $93.57 a barrel. Wholesale New York Harbor gasoline climbed 0.88% to $2.935 a gallon. In metals, gold fell $1, or 0.06%, to $1,572 a troy ounce. Foreign Markets The Euro Stoxx 50 climbed 0.65% to 2606, the English FTSE 100 gained 0.5% to 6308 and the German DAX rose 0.32% to 7686. In Asia, the Japanese Nikkei 225 was flat at 13192 and the Chinese Hang Seng jumped 0.7% to 21870. Follow Adam Samson on Twitter @adamsamson.
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Dow and S&P 500 close at new record highs - Apr. 10, 2013
Dow and S&P 500 close at new record highs

By Maureen Farrell @CNNMoneyInvest April 10, 2013: 4:20 PM ET
NEW YORK (CNNMoney)
Stocks enjoyed steep gains Wednesday, pushing the Dow and S&P to close at new record highs. Investors started buying early in the day, after the Federal Reserve's minutes showed that most members think asset purchases should continue through at least mid-2013. "People still think that we will have QE in perpetuity," said Douglas DiPietro, head of trading at Evercore. Don't fight the Fed: The minutes, which were released five hours early, showed that central bankers remain divided over whether quantitative easing should be continued longer-term. But that didn't appear to worry investors. The Dow hit a new trading high of 14,826.66, moving up 0.9%. The S&P 500 finally topped its 2007 intraday record high, gaining 1.2% to a new record of 1,589.07. The Nasdaq jumped 1.8%. Several analysts and traders said that Wednesday's surge came mostly from investors not wanting to miss any more legs of the rally. Outside of the Fed minutes, there was no clear catalyst for the surge. "The path of least resistance is to push the market higher," said DiPietro.
Related: Wanna invest like Buffett? There's an app for that
Investors also liked trade figures out of China for March that showed a 10% year-over-year increase, buoyed primarily by exports to the United States. Also Wednesday, President Obama unveiled his 2014 budget proposal, which serves as an important marker in continuing debt negotiations in Washington. What's moving: In company news, shares of Family Dollar ( earnings miss and weak outlook. FDO, Fortune 500) erased earlier losses to close up 1%, despite an
Better-than-expected results from computer networking company Adtran ( ADTN ) helped push up other networking companies, including Cisco ( CSCO, Fortune 500) and Alcatel-Lucent ( ALU).
1/2
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Dow and S&P 500 close at new record highs - Apr. 10, 2013
Shares of JC Penney ( JCP, Fortune 500) closed up 1%, despite continued uncertainty about the troubled retailer's future after former CEO Ron Johnson was ousted Monday. Facebook's ( FB) stock rose more than 4% after General Motors ( advertising on the social media site, ending its year-long hiatus. Shares of First Solar ( panel maker. GM, Fortune 500) announced that it would return to
FSLR) pulled back after a big surge Tuesday following better-than-expected guidance from the solar TMHC) jumped 5% in its public debut, after the initial public offering priced at the high end of
Home builder Taylor Morrison ( its range.
Bitcoin bubble bursting? The price of a Bitcoin, the virtual currency craze that many speculated was a bubble, dropped as much 60% Wednesday. After hitting a high of $266 earlier in the day, Bitcoin fell as low as $105. In the world of real paper currencies, the dollar and euro were up against the Japanese yen but fell against the British pound. European markets closed higher, with London's FTSE 100 rising 1.2% and the CAC 40 in Paris and the DAX in Frankfurt gaining more than 2%. Asian markets ended higher, as China trade data offset continued tensions and potential war on the Korean peninsula and Fitch Ratings' warning over excessive debt in China.
Related: Fear & Greed Index turns greedy
The Hang Seng increased 0.8%, the Nikkei gained 0.7% and the Shanghai Composite added less than 0.1%. Oil prices rose, while gold prices slumped nearly 2%. The yield on the 10-year Treasury rose to 1.81% from 1.75% Tuesday.
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Dow, S&P Soar to All-Time Highs on Fed Minutes | Fox Business


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The Dow Jones Industrial Average climbed 129 points, or 0.88%, to 14802, the S&P 500 gained 19.1 points, or 1.2%, to 1588 and the Nasdaq Composite rose 59.4 points, or 1.8%, to 3297. Despite a choppy end of the week last week, the markets have managed to continue their move into uncharted territory. The Dow and S&P 500 both zipped past record intraday levels. It was the thirteenth time this year the blue-chip index ended at a record high. The techheavy Nasdaq, which is still far from its dot-com era highs, posted its biggest surge since the New Year's rally on January 2.
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convinced that asset purchases benefit the economy beyond a shortlived impact on the financial markets. The minutes were released hours earlier than expected after the central bank inadvertently emailed the often market-moving minutes to an email distribution list Tuesday. Meanwhile, China saw its imports surge 14.1% in March on a year-toyear basis, compared to expectations of a 5.2% increase. Meanwhile, exports jumped 10% on the same basis -- just shy of the 10.5% increase economists forecast. That left the world's No. 2 economy with an $884 million trade deficit, a far cry from estimates of a $15.4 billion surplus. Jian Chang, an economist at Barclays (BCS), wrote in a note to clients that the data pointed to "a pickup in demand amid a gradual, albeit steady, recovery." Combined with a report Tuesday showing price pressure remains in check, the data have helped alleviate fears that the country could be in for a dramatic slowdown. Elsewhere, oil prices were under modest pressure, and the volatile trade in gasoline continued. The benchmark U.S. crude oil contract fell 58 cents, or 0.62%, to $93.62 a barrel. Wholesale New York Harbor gasoline sold off by 1.3% to $2.905 a gallon. In metals, gold dropped $8.10, or 0.51%, to $1,578 a troy ounce. Foreign Markets The Euro Stoxx 50 surged 1.5% to 2633, the English FTSE 100 gained 0.84% to 6367 and the German DAX rallied 1.2% to 7726. In Asia, the Japanese Nikkei 225 rose 0.73% to 13288 and the Chinese Hang Seng jumped 0.75% to 22035. Follow Adam Samson on Twitter @adamsamson.
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Varney & Com pany The Willis Report Quotes delayed at least 15 minutes. Real-time quotes provided by BATS Exchange. Market Data provided by Interactive Data ( Term s & Conditions ). Pow ered and Implemented by Interactive Data Managed Solutions . Company fundamental data provided by Morningstar . Earnings estimates data provided by Zacks. Mutual fund and ETF data provided by Lipper . Economic data provided by Econoday. Dow Jones & Company Terms & Conditions. This material may not be published, broadcast, rew ritten, or redistributed. 2013 FOX New s Netw ork, LLC. All rights reserved. Media Relations
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Sensex rises 128 points to one-week high ahead of inflation, IIP data - The Hindu
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Sensex rises 128 points to one-week high ahead of inflation, IIP data
PTI
The Hindu
Rising for the second day, the BSE benchmark Sensex on Thursday jumped by 127.75 points to end at one-week high level of 18,542.20 on the back of solid 3-4 per cent gains in shares of Infosys, ICICI Bank and Tata Motors ahead of consumer inflation and IIP data tomorrow. The Bombay Stock Exchange 30-share barometer resumed strong and moved in a range of 18,599.14 and 18,397.94 before concluding at one-week high of 18,542.20 - a gain of 127.75 points or 0.69 per cent. On Wednesday, it rose by 187.97 points. Thursdays close was the highest since 18,801.64 on April 3. Similarly, the CNX Nifty of the NSE also improved further by 35.30 points or 0.64 per cent to end at 5,594.00. Brokers said buying was seen in realty, IT, banking and capital goods counters ahead of IIP and CPI data to be released on Friday. Infosys, which surged by 3.72 per cent, is also expected to help set the tone for markets tomorrow as the IT bellwether will come out with its quarterly earnings. Tata Motors, ICICI Bank, L&T, HDFC Bank, ONGC, Sun Pharma and SBI also attracted good buying interest. Sentiment also improved after data showed Foreign Institutional Investors (FIIs) bought shares worth a net Rs 40.22 crore on Wednesday. However, Bharti Airtel was the biggest loser in Sensex as it fell 2.31 per cent after it was restrained by Supreme Court from providing 3G roaming services to new customers in 7 circles where it does not have licence to do so on Thursday. Barring China, other Asian stocks closed with gains, as the yen neared 100 to the dollar after the Bank of Japan said it will maintain stimulus and loan growth in China topped estimates. European markets too were quoting higher in their early trade. Key Asian benchmark indices in Hong Kong, Japan, Singapore, South Korea and Taiwan rose by 0.30 per cent to 1.96 per cent. US stocks climbed yesterday after reports said minutes from the last Federal Reserve meeting quelled fears that the central bank will slow its monthly bond purchases.
www.thehindu.com/business/markets/sensex-rises-128-points-to-oneweek-high-ahead-of-inflation-iip-data/article4606172.ece?css=print 1/2
4/11/13
Sensex rises 128 points to one-week high ahead of inflation, IIP data - The Hindu
In Europe, Frances CAC was up by 0.60 per cent, Germanys DAX by 0.55 per cent and the FTSE by 0.33 per cent. Back home, 16 out of 30-Sensex based scrips closed up. Traders are awaiting the crucial macroeconomic data due for release for directional cues, said ICICIdirect.com. The February IIP data and March consumer price index inflation number are keenly awaited by investors to understand RBIs stance on further rate cuts, analysts said. Tata Motors was the top gainer from the Sensex pack with a rise of 3.92 per cent, followed by ICICI Bank (3.52 pc), L&T (2.05 pc), Sun Pharma (1.81 pc), Cipla (1.73 pc), ONGC (1.41 pc), HDFC Bank (1.10 pc), Maruti Suzuki (1.04 pc) and SBI (1.02 pc). However, Bharti Airtel dropped by 2.31 per cent, followed by Tata Steel (2.24 pc), HDFC (1.90 pc), NTPC (1.48 pc), Bajaj Auto (1.42 pc), RIL (1.27 pc) and Tata Power (1.10 pc). Among the sectoral indices, the S&P BSERealty rose by 2.21 per cent, followed by S&P BSEIT (2.04 pc), S&P Bankex (1.53 pc), S&P BSETeck (1.49 pc) and S&P BSECG (1.25 pc). The total market breadth remained positive as 886 stocks closed with gains while 796 others concluded with losses and 765 scrips closed stable. The total turnover was relatively low at Rs 1,696.44 crore from Rs 1,816.41 crore on Wednesday. Keywords: Bombay Stock Exchange, Sensex, Infosys, stock index
Printable v ersion | Apr 1 2 , 2 01 3 4 :1 9 :03 AM | http://www.thehindu.com /business/m arkets/sensex-rises-1 2 8-points-to-oneweek-high-ahead-of-inflation-iipdata/article4 6 06 1 7 2 .ece The Hindu
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4/11/13
Another record close for Dow and S&P 500 - Apr. 11, 2013
Another record close for Dow and S&P 500

By Emily Jane Fox @CNNMoneyInvest April 11, 2013: 4:25 PM ET
NEW YORK (CNNMoney)
U.S. stocks had another day of gains Thursday that pushed the Dow and S&P 500 to new record highs. The Dow Jones Industrial Average topped the previous day's record high, rising 0.4% to close at 14,865.14. The blue chip index is now less than 1% away from 15,000. The S&P 500 gained nearly 0.4% to 1,593.37, also a new record and putting the broad index just 0.4% away from 1,600. "It's a market that's climbed the walls of worry. When there are pullbacks, the market rebounds quickly," said Tim Ghriskey, chief investment officer at Solaris Asset Management. The outlier was the Nasdaq , which was dragged down by weakness in the tech sector. Shares of PC-related companies extended the prior day's sell-off following news that PC sales fell 14% worldwide last quarter. Shares of Microsoft ( between 3% and 7%. MSFT, Fortune 500), Intel ( INTC, Fortune 500) and Hewlett-Packard ( HPQ, Fortune 500) fell
Herbalife ( HLF) spiked 3% after the Securities and Exchange Commission filed insider trading charges against the former KPMG partner who was fired after allegedly leaking insider trading information. KPMG resigned as auditor of the nutritional supplement company on Wednesday.
Related: Stock rally has room to run
On the economic front, investors largely shrugged off a better-than-expected weekly report on initial jobless claims. Retailers also reported a mixed bag of February same-store sales -- a key metric used to gauge consumer spending. Sales at Costco ( COST, Fortune 500) rose 4%, missing forecasts, while Gap ( that rose a better-than-expected 3% in the latest month. GPS, Fortune 500) reported same-store sales
Shares of Yum Brands ( YUM, Fortune 500) were slightly higher after falling in premarket trading. The restaurant operator revealed that its same-store sales in China dropped in March amid an ongoing food safety scandal and concerns about bird flu. Despite the company's recall of 1.7 million vehicles because of airbag defects, Toyota ( TM) shares rose. Honda ( HMC)
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Another record close for Dow and S&P 500 - Apr. 11, 2013
shares also gained, even after the automaker said it was recalling 1.1 million vehicles with airbag problems. Shares of airbag supplier Takata Corp closed down 9% in Tokyo.
Related: Fear & Greed Index heads back into greed
Meanwhile, corporate results continued to roll in. Drugstore chain Rite Aid ( RAD, Fortune 500) swung to a profit in the latest quarter, trouncing forecasts and sending shares up 19%. Bed Bath & Beyond ( BBBY, Fortune 500) reported earnings in line with forecasts, as sales continued to rise. The first of the big banks, JPMorgan ( ahead of the opening bell Friday.
Related: Wall Street sours on gold
JPM, Fortune 500) and Wells Fargo (
WFC, Fortune 500), will report their results
European markets closed higher, supported by Wall Street's record-breaking run. Asian markets also ended with gains. The Shanghai Composite added 0.1%, the Hang Seng increased 0.3% and the Nikkei jumped 2%. Oil prices were lower, while gold prices were slightly higher. The yield on the 10-year Treasury fell to 1.79% from 1.81% Tuesday.
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4/11/13
Jobs Data Lift Dow, S&P to Record Highs | Fox Business


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FOX Business: Capitalism Lives Here Fresh data suggesting the recovery in the labor market could holding strong pushed the Dow and S&P to fresh record highs. Today's Markets According to preliminary calculations, the Dow Jones Industrial Average climbed 62.5 points, or 0.35%, to 14865, the S&P 500 gained 5.6 points, or 0.35%, to 1594 and the Nasdaq Composite
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rose 2.9 points, or 0.09%, to 3300. Wall Street is on a roll. The Dow logged its fourteenth record close of the year, while the
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The focus was on the American jobs market. The Labor Department reports new claims for unemployment benefits fell to 346,000 last week from an upwardly-revised 388,000 the week prior. Claims were expected to fall to 365,000 from an initially reported 385,000. Labor said the plunge was partly attributable to seasonal factors.
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4/11/13
Economists are paying especially close attention to the weekly readings after the March jobs report showed much weaker-thanexpected payroll growth, in a sign the economic recovery could be losing steam.
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The Commerce Department said U.S. import prices dropped 0.5% in March from February, in line with expectations. Export prices dropped 0.4% for the month, compared to expectations of a 0.1% rise. Meanwhile, the markets have cheered news that the Bank of Japan will do whatever it takes to boost inflation to a year-to-year pace of 2% in a bid to escape its decades long deflation trap. The measures include a massive bond-buying program that has sent the yen plunging to four-year lows against the U.S. dollar. In corporate news, Microsoft (MSFT) shares were under pressure after Goldman Sachs (GS) cut the blue-chip stock to "sell" from "neutral." Yum Brands (YUM) also fell sharply after the owner of KFC and Taco Bell warned that bird flu jitters in China could impact its bottom line. Elsewhere, oil and gasoline futures down solidly. The benchmark crude oil contract traded in New York sunk $1.13, or 1.2%, to $93.51 a barrel. Wholesale New York Haboar gasoline fell 1.2% to $2.831 a gallon. In metals, gold climbed $6.10, or 0.39%, to $1,565 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.21% to 2668, the English FTSE 100 gained 0.33% to 6409 and the German DAX advanced 0.52% to 7851. In Asia, the Japanese Nikkei 225 surged 2% to 13549 and the Chinese Hang Seng edged up 0.3% to 22101. Follow Adam Samson on Twitter @adamsamson.
Don't You Dare Deduct These Expenses! Are Cougar Cruises the Next Big Trend in Cruises? Are Warehouse Clubs a Good Bargain? Futures flat w ith S&P near all-tim e high Goldm an Sachs Turns Bearish on Gold, Slashes '13, '14 Forecasts Futures Pause as Dow , S&P Sit at Record Highs
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4/15/13
Sensex recovers on rate cut hopes, lower crude prices - The Hindu
Business Markets
Sensex recovers on rate cut hopes, lower crude prices

PTI
Sensex/Nifty graph.
PTI graphics
The BSE benchmark Sensex on Monday recovered 115 points on funds buying in bluechip stocks such as ONGC, SBI, Bharti Airtel and RIL amid lower crude oil prices in overseas markets and hopes of rate cut by RBI in May after lowerthan-expected inflation number in March. Wiping off initial losses, the Sensex bounced back to close higher by 115.24 points, or 0.63 per cent to 18,357.80. The index had dropped 300 points in the previous session. The broad-based National Stock Exchange index Nifty rose by 39.85 points, or 0.72 per cent, to 5,568.40, after touching the days low of 5,500.30. Brokers said oil and gas sector stocks were higher as crude oil declined in overseas markets, while easing inflation data in March triggered hopes of repo rate cut by the Reserve Bank of India in its annual policy meet on May 3. Softening vegetable prices has pulled down inflation to over three-year low of 5.96 per cent in March. This is the lowest level of Wholesale Price Index (WPI) inflation since December 2009 when it was 4.95 per cent. A weakening trend in overseas makets as foreign funds shifted their focus to India, failed to influence the sentiment, traders added. After a steep fall in gold and silver prices, stocks of gold loan finance companies such as Muthoot Finance and Titan industries were down significantly. In 30-BSE index components, 15 stocks gained while other 15 closed with losses. The oil and gas sector index gained the most by rising 2.37 per cent to 8,561.17 followed by FMCG index by 1.45 per cent to 5,876.31. PSU index gained 1.38 per cent to 6,544.60 and banking index by 0.96 per cent to 13,201.03.
www.thehindu.com/business/markets/sensex-recovers-on-rate-cut-hopes-lower-crude-prices/article4620086.ece?css=print 1/2
4/16/13
Sensex vaults 387 points - The Hindu
Business Markets
Sensex vaults 387 points

PTI
The BSE benchmark Sensex on Tuesday surged 387 points, its biggest gain in seven months, to end at 18,744.93 led by banking, auto, power and realty scrips on hopes of aggressive rate cut by RBI and likely relief on CAD front due to falling gold and oil prices. Rising for the second day, the 30-share Sensex rose to the days high of 18,771.33. It finally ended the day at 18,744.93, showing a significant rise of 387.13 points, or 2.11 per cent, its biggest gain since September 2012. The gauge rose over 171 points in the early trade. The NSE 50-share Nifty spurted by 120.55 points, or 2.16 per cent to close at 5,688.95. In the 30BSE index component, 27 stocks advanced while 3 closed with losses. The banking sector index emerged best performer by gaining 2.94 per cent to 13,588.60 points with all the 14 components, led by State Bank of India, ICICI Bank, HDFC Bank, Axis Bank, Federal Bank and Yes Bank ending in positive zone with gains up 5.58 per cent. The auto sector index by 2.54 per cent to 10,072.93 points as Maruti Suzuki, Tata Motors, Mahindra and Mahindra, Hero Motocorp and Bajaj Auto registered smart gains. The stock in oil and gas sector extended yesterdays gains with BPCL rising 2.72 per cent, HPCL by 0.93 per cent, ONGC by 3.87 per cent and IOC by 0.43 per cent. RIL stocks rose by 1.38 per cent ahead of its fourth quarter earnings. Shares of Tata Power ended 2.02 per cent higher after electricity regulator CERC allowed the company to raise power tariffs to compensate for an unexpected increase in coal cost. However, stocks of gold finance companies remained under pressure on rising risk of default due to persistent fall in the precious metal prices. Manappuram Finance fell 9.77 per cent and Muthoot Finance by 9.44 per cent. Globally, Asian stocks ended mixed, European markets were trading lower in early trade today. Keywords: sensex, BSE, closing trade
Printable v ersion | Apr 1 7 , 2 01 3 3 :2 7 :51 AM | http://www.thehindu.com /business/m arkets/sensex-v aults-3 87 -points/article4 6 2 3 4 7 1 .ece The Hindu
www.thehindu.com/business/markets/sensex-vaults-387-points/article4623471.ece?css=print
1/1
4/16/13
Stocks bounce back after year's worst sell-off - Apr. 16, 2013
Stocks rebound from year's worst sell-off

NEW YORK (CNNMoney)
U.S. stocks bounced back from the biggest one-day sell-off of the year Tuesday, as investors cheered a full slate of corporate results and economic reports. The Dow Jones industrial average jumped more than 150 points, or 1.1%. The S&P 500 added 1.4% and Nasdaq rose 1.5%. The rebound comes one day after all three indexes declined sharply, following weak economic news out of China and two explosions in Boston. Housing recovery: Investors were encouraged by housing starts, which topped 1 million in March for the first time since June of 2008. Building permits came in at an annual rate of 902,000 in March. That was slightly less than forecasts but still solid. Homebuilder stocks spiked, with PulteGroup ( Lennar ( LEN) rising 2.4%. PHM) rising more than 4%, Hovnanian Enterprises ( HOV) adding 1.6% and
Meanwhile, the Consumer Price Index slipped 0.2% in March, more than the 0.1% decline that economists expected. Core CPI, excluding food and energy prices, rose 0.1%. The CPI report is the latest to show that inflation is not a problem right now, which means the Federal Reserve may be able to continue its quantitative easing program of bond purchases for some time. Strong earnings roll in: Coca-Cola ( KO, Fortune 500) shares jumped nearly 6%, leading gains on the Dow and S&P 500, after the company topped earnings and sales forecasts. Johnson & Johnson ( expectations. JNJ, Fortune 500) shares gained modest ground after the company's first quarter earnings also exceeded
Goldman Sachs ( GS, Fortune 500) reported solid results, but the bank's shares slid almost 2% as investors worried that Goldman may be taking on too much risk to deliver such strong earnings. Tech giant Intel ( INTC, Fortune 500) reported after the closing bell. The chipmaker's revenue topped forecasts and the company also issued strong sales guidance. Shares of Intel rose in after-hours trading. Yahoo ( YHOO, Fortune 500) also reported earnings after the bell. The company's revenue was below estimates but it still reported higher-than-expected earnings. Shares declined slightly in after-hours trading.
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In other corporate news, Target ( TGT, Fortune 500) shares pulled back after the discount retailer lowered its earnings and sales forecast, blaming seasonal factors. J.C. Penney ( JCP, Fortune 500) shares spiked after Bloomberg reported that the struggling retailer may borrow against its real estate holdings to raise cash.
Related: Fear & Greed Index ticks up to neutral
Gold regains some luster: Gold rebounded Tuesday, a day after prices tumbled 9% to a 2-year low. Gold prices gained almost 2%, settling at $1,387.40 an ounce. Other commodities were mixed. "I think yesterday's decline, in both commodities and equities, may have been overdone, so we're having a bit of a rebound," said Peter Cardillo, chief market economist at Rockwell Global Capital. Boston remains in focus: The Boston bombings have "a minimal economic impact, but a very large emotional impact in the marketplace," said Lazard managing director Art Hogan, who was working in Boston at the time of the attack. "This is a harsh reminder that we live in La very dangerous world."
Related: World markets drop on worries about economic growth
European markets closed with modest losses on concerns about slowing global growth, while Asian markets ended mixed. The Nikkei dropped 0.4%, the Shanghai Composite added 0.6% and the Hang Seng fell 0.5%. The dollar dropped versus the euro and the pound, but climbed versus the Japanese yen. The price on the 10-year Treasury yield fell, pushing the yield up to 1.72% from 1.70% late Monday.
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U-Turn: Earnings, Data Ignite Rally on Wall Street | Fox Business


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The Dow Jones Industrial Average rallied 158 points, or 1.1%, to 14757, the S&P 500 jumped 22.2 points, or 1.4%, to 1575 and the Nasdaq Composite climbed 48.2 points, or 1.5%, to 3265. The markets took a thrashing on Monday, with the Dow and S&P 500 taking their worst falls since last November. The tech-heavy Nasdaq stumbled the most since June. The move was driven by a confluence of factors, from weak data in China, to a collapse in the commodities complex, to news of the bombings in Boston. Gold futures climbed $26.30, or 1.9%, to $1,387 a troy ounce following the biggest selloff in a percent basis in three decades. The benchmark U.S. crude oil contract was essentially flat at $88.72 a barrel after plummeting 2.8% in the last session.
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The docket of corporate and economic events was full on the day.
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Coca-Cola (KO) unveiled adjusted first-quarter profits of 46 cents a share, topping estimates by a penny. Sales of $11.03 billion also beat expectations of $10.94 billion. Goldman Sachs (GS) posted diluted, first-quarter earnings of $4.29 a share, compared to $3.92 in the same period in 2012. It wasnt immediately clear whether the figure was comparable to estimates of $3.88 a share. Revenues of $10.09 billion topped expectations of $9.72 billion. Johnson & Johnson (JNJ) posted adjusted first-quarter earnings of $1.44 a share on revenues of $17.5 billion, topping expectations of $1.40 a share on $17.42 billion. Intel (INTC) and Yahoo! (YHOO) report after the close in New York. The Commerce Department said housing starts jumped 7% in March from February to an annualized 1.03 million-unit rate, easily beating expectations of 930,000. Permits dropped 3.9% for the month to an annualized rate of 902,000 units, falling short of forecasts of 940,000 units. Meanwhile, a report from the Labor Department showed inflation at the consumer level fell 0.2% in March from February, compared to expectations of no change. Excluding the food and energy components, prices were up 0.1%, a slightly shallower rise than the 0.2% increase economists forecast. The headline reading climbed 1.5% from the year prior in the smallest year-to-year increase since July 2012. The Federal Reserve's industrial production gauge rose 0.4% in March from the month prior, topping estimates of a gain of 0.2%. Still, the manufacturing component slipped 0.1%, shy of estimates of a gain of 0.1%. Foreign Markets The Euro Stoxx 50 fell 0.49% to 2612, the English FTSE 100 dipped 0.46% to 6314 and the German DAX slumped 0.37% to 7685. In Asia, the Japanese Nikkei 225 slipped 0.41% to 13221 and the Chinese Hang Seng edged lower by 0.46% to 21672. Follow Adam Samson on Twitter @adamsamson.
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Gold Bugs 'Panicking,' Selloff To Continue: Analysts

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Sensex recovers on rate cut hopes, lower crude prices - The Hindu
Business Markets
Sensex recovers on rate cut hopes, lower crude prices

PTI
Sensex/Nifty graph.
PTI graphics
The BSE benchmark Sensex on Monday recovered 115 points on funds buying in bluechip stocks such as ONGC, SBI, Bharti Airtel and RIL amid lower crude oil prices in overseas markets and hopes of rate cut by RBI in May after lowerthan-expected inflation number in March. Wiping off initial losses, the Sensex bounced back to close higher by 115.24 points, or 0.63 per cent to 18,357.80. The index had dropped 300 points in the previous session. The broad-based National Stock Exchange index Nifty rose by 39.85 points, or 0.72 per cent, to 5,568.40, after touching the days low of 5,500.30. Brokers said oil and gas sector stocks were higher as crude oil declined in overseas markets, while easing inflation data in March triggered hopes of repo rate cut by the Reserve Bank of India in its annual policy meet on May 3. Softening vegetable prices has pulled down inflation to over three-year low of 5.96 per cent in March. This is the lowest level of Wholesale Price Index (WPI) inflation since December 2009 when it was 4.95 per cent. A weakening trend in overseas makets as foreign funds shifted their focus to India, failed to influence the sentiment, traders added. After a steep fall in gold and silver prices, stocks of gold loan finance companies such as Muthoot Finance and Titan industries were down significantly. In 30-BSE index components, 15 stocks gained while other 15 closed with losses. The oil and gas sector index gained the most by rising 2.37 per cent to 8,561.17 followed by FMCG index by 1.45 per cent to 5,876.31. PSU index gained 1.38 per cent to 6,544.60 and banking index by 0.96 per cent to 13,201.03.
www.thehindu.com/business/markets/sensex-recovers-on-rate-cut-hopes-lower-crude-prices/article4620086.ece?css=print 1/2
4/16/13
Business Markets

PTI
The BSE benchmark Sensex on Tuesday surged 387 points, its biggest gain in seven months, to end at 18,744.93 led by banking, auto, power and realty scrips on hopes of aggressive rate cut by RBI and likely relief on CAD front due to falling gold and oil prices. Rising for the second day, the 30-share Sensex rose to the days high of 18,771.33. It finally ended the day at 18,744.93, showing a significant rise of 387.13 points, or 2.11 per cent, its biggest gain since September 2012. The gauge rose over 171 points in the early trade. The NSE 50-share Nifty spurted by 120.55 points, or 2.16 per cent to close at 5,688.95. In the 30BSE index component, 27 stocks advanced while 3 closed with losses. The banking sector index emerged best performer by gaining 2.94 per cent to 13,588.60 points with all the 14 components, led by State Bank of India, ICICI Bank, HDFC Bank, Axis Bank, Federal Bank and Yes Bank ending in positive zone with gains up 5.58 per cent. The auto sector index by 2.54 per cent to 10,072.93 points as Maruti Suzuki, Tata Motors, Mahindra and Mahindra, Hero Motocorp and Bajaj Auto registered smart gains. The stock in oil and gas sector extended yesterdays gains with BPCL rising 2.72 per cent, HPCL by 0.93 per cent, ONGC by 3.87 per cent and IOC by 0.43 per cent. RIL stocks rose by 1.38 per cent ahead of its fourth quarter earnings. Shares of Tata Power ended 2.02 per cent higher after electricity regulator CERC allowed the company to raise power tariffs to compensate for an unexpected increase in coal cost. However, stocks of gold finance companies remained under pressure on rising risk of default due to persistent fall in the precious metal prices. Manappuram Finance fell 9.77 per cent and Muthoot Finance by 9.44 per cent. Globally, Asian stocks ended mixed, European markets were trading lower in early trade today. Keywords: sensex, BSE, closing trade
Printable v ersion | Apr 1 7 , 2 01 3 3 :2 7 :51 AM | http://www.thehindu.com /business/m arkets/sensex-v aults-3 87 -points/article4 6 2 3 4 7 1 .ece The Hindu
1/1
4/16/13
Stocks rebound from year's worst sell-off

NEW YORK (CNNMoney)
U.S. stocks bounced back from the biggest one-day sell-off of the year Tuesday, as investors cheered a full slate of corporate results and economic reports. The Dow Jones industrial average jumped more than 150 points, or 1.1%. The S&P 500 added 1.4% and Nasdaq rose 1.5%. The rebound comes one day after all three indexes declined sharply, following weak economic news out of China and two explosions in Boston. Housing recovery: Investors were encouraged by housing starts, which topped 1 million in March for the first time since June of 2008. Building permits came in at an annual rate of 902,000 in March. That was slightly less than forecasts but still solid. Homebuilder stocks spiked, with PulteGroup ( Lennar ( LEN) rising 2.4%. PHM) rising more than 4%, Hovnanian Enterprises ( HOV) adding 1.6% and
Meanwhile, the Consumer Price Index slipped 0.2% in March, more than the 0.1% decline that economists expected. Core CPI, excluding food and energy prices, rose 0.1%. The CPI report is the latest to show that inflation is not a problem right now, which means the Federal Reserve may be able to continue its quantitative easing program of bond purchases for some time. Strong earnings roll in: Coca-Cola ( KO, Fortune 500) shares jumped nearly 6%, leading gains on the Dow and S&P 500, after the company topped earnings and sales forecasts. Johnson & Johnson ( expectations. JNJ, Fortune 500) shares gained modest ground after the company's first quarter earnings also exceeded
Goldman Sachs ( GS, Fortune 500) reported solid results, but the bank's shares slid almost 2% as investors worried that Goldman may be taking on too much risk to deliver such strong earnings. Tech giant Intel ( INTC, Fortune 500) reported after the closing bell. The chipmaker's revenue topped forecasts and the company also issued strong sales guidance. Shares of Intel rose in after-hours trading. Yahoo ( YHOO, Fortune 500) also reported earnings after the bell. The company's revenue was below estimates but it still reported higher-than-expected earnings. Shares declined slightly in after-hours trading.
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In other corporate news, Target ( TGT, Fortune 500) shares pulled back after the discount retailer lowered its earnings and sales forecast, blaming seasonal factors. J.C. Penney ( JCP, Fortune 500) shares spiked after Bloomberg reported that the struggling retailer may borrow against its real estate holdings to raise cash.
Related: Fear & Greed Index ticks up to neutral
Gold regains some luster: Gold rebounded Tuesday, a day after prices tumbled 9% to a 2-year low. Gold prices gained almost 2%, settling at $1,387.40 an ounce. Other commodities were mixed. "I think yesterday's decline, in both commodities and equities, may have been overdone, so we're having a bit of a rebound," said Peter Cardillo, chief market economist at Rockwell Global Capital. Boston remains in focus: The Boston bombings have "a minimal economic impact, but a very large emotional impact in the marketplace," said Lazard managing director Art Hogan, who was working in Boston at the time of the attack. "This is a harsh reminder that we live in La very dangerous world."
Related: World markets drop on worries about economic growth
European markets closed with modest losses on concerns about slowing global growth, while Asian markets ended mixed. The Nikkei dropped 0.4%, the Shanghai Composite added 0.6% and the Hang Seng fell 0.5%. The dollar dropped versus the euro and the pound, but climbed versus the Japanese yen. The price on the 10-year Treasury yield fell, pushing the yield up to 1.72% from 1.70% late Monday.
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The Dow Jones Industrial Average rallied 158 points, or 1.1%, to 14757, the S&P 500 jumped 22.2 points, or 1.4%, to 1575 and the Nasdaq Composite climbed 48.2 points, or 1.5%, to 3265. The markets took a thrashing on Monday, with the Dow and S&P 500 taking their worst falls since last November. The tech-heavy Nasdaq stumbled the most since June. The move was driven by a confluence of factors, from weak data in China, to a collapse in the commodities complex, to news of the bombings in Boston. Gold futures climbed $26.30, or 1.9%, to $1,387 a troy ounce following the biggest selloff in a percent basis in three decades. The benchmark U.S. crude oil contract was essentially flat at $88.72 a barrel after plummeting 2.8% in the last session.
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The docket of corporate and economic events was full on the day.
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Coca-Cola (KO) unveiled adjusted first-quarter profits of 46 cents a share, topping estimates by a penny. Sales of $11.03 billion also beat expectations of $10.94 billion. Goldman Sachs (GS) posted diluted, first-quarter earnings of $4.29 a share, compared to $3.92 in the same period in 2012. It wasnt immediately clear whether the figure was comparable to estimates of $3.88 a share. Revenues of $10.09 billion topped expectations of $9.72 billion. Johnson & Johnson (JNJ) posted adjusted first-quarter earnings of $1.44 a share on revenues of $17.5 billion, topping expectations of $1.40 a share on $17.42 billion. Intel (INTC) and Yahoo! (YHOO) report after the close in New York. The Commerce Department said housing starts jumped 7% in March from February to an annualized 1.03 million-unit rate, easily beating expectations of 930,000. Permits dropped 3.9% for the month to an annualized rate of 902,000 units, falling short of forecasts of 940,000 units. Meanwhile, a report from the Labor Department showed inflation at the consumer level fell 0.2% in March from February, compared to expectations of no change. Excluding the food and energy components, prices were up 0.1%, a slightly shallower rise than the 0.2% increase economists forecast. The headline reading climbed 1.5% from the year prior in the smallest year-to-year increase since July 2012. The Federal Reserve's industrial production gauge rose 0.4% in March from the month prior, topping estimates of a gain of 0.2%. Still, the manufacturing component slipped 0.1%, shy of estimates of a gain of 0.1%. Foreign Markets The Euro Stoxx 50 fell 0.49% to 2612, the English FTSE 100 dipped 0.46% to 6314 and the German DAX slumped 0.37% to 7685. In Asia, the Japanese Nikkei 225 slipped 0.41% to 13221 and the Chinese Hang Seng edged lower by 0.46% to 21672. Follow Adam Samson on Twitter @adamsamson.
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Madoff to FOX Business: 'The Banks Knew ' Deutsche Bank Cuts Gold, Silver Forecast for 2013, 2014 The First Ladys Single Mom Slip The Seven States Running Out Of Water Microsoft Pulling Plug on Window s XP
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Gold Bugs 'Panicking,' Selloff To Continue: Analysts

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Sensex up on rate cut hopes - The Hindu
Business Markets
Sensex up on rate cut hopes
The Hindu
Benchmark stock indices surged again on Thursday with hopes that the Reserve Bank of India (RBI) would cut interest rates following the release of exports data by the government earlier in the day. Though exports for 2012-13 have fallen by 1.76 per cent, the data shows marked improvement in March trade deficit numbers. With buying activity gaining momentum from the second-half, the BSE Sensex surged past the 19000-mark to close with a gain of 285.30 points at 19016.46. Similarly, the NSE Nifty surged to its one month high to close at 5783.10, up 94.40 points. Capital Goods, banking and automobile stocks led the rally. The top Nifty gainers included IndusInd Bank, IDFC, BhartiAirtel, Tata Motors and Axis Bank. Top Sensex gainers included Bharti Airtel, Tata Motors, L&T, HDFC and GAIL. Other than Wipro and TCS, all other Sensex stocks closed with gains. The markets opened on a flat note, and bounced back on the back of strong buying interest. It closed in the positive terrain tracking the positive European markets. Barring the IT sector which closed down around 0.31 per cent, all other sectors closed in the green, said Alex Mathews, Head Research, Geojit BNP Paribas Financial Services. Rupee bounces back The rupee on Thursday bounced back by 25 paise to close at over one-month high of 53.96 against the U.S. dollar on rally in domestic equities and fresh dollar selling by traders enthused by a lower trade deficit. A weak dollar overseas and a further fall in prices of key commodities also helped the rupee, a forex dealer said. Keywords: Sensex, Nifty, BSE, NSE, rate cut hopes
www.thehindu.com/business/markets/sensex-up-on-rate-cut-hopes/article4630194.ece
1/1
4/19/13
Sensex up on rate cut hopes - The Hindu
Business Markets
Sensex up on rate cut hopes

The Hindu
Benchmark stock indices surged again on Thursday with hopes that the Reserve Bank of India (RBI) would cut interest rates following the release of exports data by the government earlier in the day. Though exports for 2012-13 have fallen by 1.76 per cent, the data shows marked improvement in March trade deficit numbers. With buying activity gaining momentum from the second-half, the BSE Sensex surged past the 19000-mark to close with a gain of 285.30 points at 19016.46. Similarly, the NSE Nifty surged to its one month high to close at 5783.10, up 94.40 points. Capital Goods, banking and automobile stocks led the rally. The top Nifty gainers included IndusInd Bank, IDFC, BhartiAirtel, Tata Motors and Axis Bank. Top Sensex gainers included Bharti Airtel, Tata Motors, L&T, HDFC and GAIL. Other than Wipro and TCS, all other Sensex stocks closed with gains. The markets opened on a flat note, and bounced back on the back of strong buying interest. It closed in the positive terrain tracking the positive European markets. Barring the IT sector which closed down around 0.31 per cent, all other sectors closed in the green, said Alex Mathews, Head Research, Geojit BNP Paribas Financial Services. Rupee bounces back The rupee on Thursday bounced back by 25 paise to close at over one-month high of 53.96 against the U.S. dollar on rally in domestic equities and fresh dollar selling by traders enthused by a lower trade deficit. A weak dollar overseas and a further fall in prices of key commodities also helped the rupee, a forex dealer said. Keywords: Sensex, Nifty, BSE, NSE, rate cut hopes
Printable v ersion | Apr 1 9 , 2 01 3 7 :4 4 :59 PM | http://www.thehindu.com /business/m arkets/sensex-up-on-rate-cut-hopes/article4 6 3 01 9 4 .ece The Hindu
www.thehindu.com/business/markets/sensex-up-on-rate-cut-hopes/article4630194.ece?css=print
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Money Game
The Dow Just Turned Positive

Sam Ro | Apr. 19, 2013, 11:44 AM |
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It's a very quiet day for market-specific news today.
Earlier this morning, General Electric's lackluster earnings announcement sent the stock as well as the entire Dow Jones Industrial Average lower. However, the Dow just turned positive. "Market rallied after the uncle said, "This has nothing to do with Chechnya"," tweeted CNBC's Carl Quintanilla. "But also coincided with European mkt close" Quintanilla was referring to the uncle of the two suspects in the Boston Marathon bombing. SEE ALSO: Sobering Presentation Reveals The Two Economies In America >
Google Finance
http://abcnews.go.com/Business/wireStory/stock-markets-edge-higher-end-turbulent-week-19001219#.UXK8H6LYfIo
Stock Markets Edge Higher to End Turbulent Week

By The Associated NEW YORK
abcnews.go.com
Stock markets edge higher to end turbulent week on Wall Street The Associated Press Stock markets edged higher Friday, as a mixed set of earnings capped a turbulent week on Wall Street. The Standard & Poor's 500 index rose 13 points to 1,555, up nearly 1 percent. The index was helped by a 4 percent rise in Google after the company posted strong earnings. The Nasdaq composite index gained 39 points to 3,206, up almost 1.3 percent. After spending most of the day down, the Dow Jones industrial average ended Friday with a tiny gain up 10 points at 14,547. A rare earnings miss for IBM weighed on the Dow. Google's stock rose nearly $34 to $799.87 after its profit beat estimates. Nearly three stocks rose for every one that fell on the New York Stock Exchange. Volume reached 3.5 billion shares.
Copyright 2013 ABC News Internet Ventures

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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20/04/2013 10:03 AM
4/22/13
Sensex up 153 points - The Hindu
Business Markets

PTI
The BSE benchmark Sensex on Monday climbed 153 points to close at one-month high level of 19,170 on funds buying in financial and interest sensitive stocks as slowing inflation and lower commodity prices raised hopes of a rate cut by RBI, amid a firming global trend. The Sensex rose 153.37 points, or 0.81 per cent, to close at 19,169.83, a level matching with March 18, led by buying in consumer durables, realty, capital goods and banking stocks. The index had gained 285 points in the previous session. A fall in Wipro stock by nearly eight per cent to Rs 339.35 after lower-than-expected results on revenue as well as on margin front, however, capped the market gains. The broad-based National Stock Exchange index Nifty rose by 51.30 points, or 0.89 per cent, to 5,834.40, after touching the days high of 5,844.85. Brokers said sentiment bolstered as expectation that easing inflation and weak commodity prices might prompt the Reserve Bank of India to cut interest rate in its monetary policy meeting on May 3. They said a firming trend in Asian and European markets as the Group of 20 refrained from opposing the Bank of Japans stimulus policies, further supported the market. In 30-BSE index components, 20 stocks gained led by HDFC Bank, ICICI Bank, State Bank of India, HDFC Ltd, Reliance Industries, Coal India, Tata Motors, Tata Steel, Hero MotoCorp, BHEL and and Sun Pharma. Keywords: Bombay Stock Exchange, sensex
Printable v ersion | Apr 2 2 , 2 01 3 7 :08:2 5 PM | http://www.thehindu.com /business/m arkets/sensex-up-1 53 -points/article4 6 4 3 552 .ece The Hindu
www.thehindu.com/business/markets/sensex-up-153-points/article4643552.ece?css=print
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4/22/13
Stocks Tick Up as Traders Shake Off Weak Data | Fox Business


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According to preliminary calculations, the Dow Jones Industrial Average rose 19.7 points, or 0.14%, to 14567, the S&P 500 rose 7.3 points, or 0.47%, to 1563 and the Nasdaq Composite rose 27.5 points, or 0.86%, to 3234.
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Still, not all news was negative. Over the weekend, Italy re-elected Giorgio Napolitano as president after parliament there failed to choose a head of state five times. The move sent Italy's benchmark stock-market index, the FTSE MIB, surging some 2%. Analysts generally saw the election as a positive, although still noted the downside risks Europe's third-biggest economy faces. "The start of [Napolitano's] unprecedented second-term is being met with mixed feelings, with markets appearing satisfied by the resolution and the implied stability of Mr. Napolitanos steady hands on the reins," analysts at Nomura wrote to clients Monday. Separately, the Group of 20 finance and central bank chiefs that met at the end of last week came out supportive of Japan's aggressive new monetary policy measures that have shoved the yen sharply lower and sent markets there skyrocketing. The G-20 also came out in support of fiscal measures taken recently in the U.S. via the sequester. Earnings season also revs up this week. Caterpillar (CAT) posted first-quarter profits of $1.31 a share, shy of estimates of $1.40. The heavy-machinery giant said its revenues came in at $13.21 billion for the quarter, also missing expectations of $13.7 billion. The company also said it expects its full-year profits to come in at $7 a share, down from a previous forecast of $7 to $9 a share. Shares rose despite the miss. Netflix (NFLX) and Texas Instruments (TXN) report after the bell. Apple (AAPL), the world's biggest technology company, unveils its quarterly results on Tuesday. In commodities, gold prices rallied $39.60, or 2.7%, to $1,435 a troy ounce. Oil edged up 48 cents, or 0.55%, to $88.49 a barrel. Wholesale New York Harbor gasoline advanced 0.82% to $2.795 a gallon. Foreign Markets The Euro Stoxx 50 jumped 0.92% to 2599, the English FTSE 100 gained 0.63% to 6326 and the German DAX advanced 0.88% to 7525. In Asia, the Japanese Nikkei 225 rallied 1.9% to 13568 and the Chinese Hang Seng ticked up 0.14% to 22044.
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Risk of a m ajor stock correction is grow ing Depreciation: 5 Car Models that Lose Value Fast Wal-Mart Custom ers Com plaining of Em pty Shelves Gold Bugs 'Panicking,' Selloff To Continue: Analysts Planned Layoffs Surge to Highest Am ount in a Year Gold Crushed in Historic Rout
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Varney & Com pany The Willis Report Quotes delayed at least 15 minutes. Real-time quotes provided by BATS Exchange. Market Data provided by Interactive Data ( Term s & Conditions ). Pow ered and Implemented by Interactive Data Managed Solutions . Company fundamental data provided by Morningstar . Earnings estimates data provided by Zacks. Mutual fund and ETF data provided by Lipper . Economic data provided by Econoday. Dow Jones & Company Terms & Conditions. This material may not be published, broadcast, rew ritten, or redistributed. 2013 FOX New s Netw ork, LLC. All rights reserved. Media Relations
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Strong Earnings Propel Stocks Higher | Fox Business


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FOX Business: Capitalism Lives Here The markets zoomed higher Tuesday as traders cheered strong earnings from several high-profile companies. Today's Markets According to preliminary calculations, the Dow Jones Industrial Average rallied 152 points, or 1%, to 14719, the S&P 500 gained 16.3 points, or 1%, to 1578 and the Nasdaq Composite climbed 35.8 points, or 1.1%, to 3269. Wall Street's upbeat sentiment persisted for another day on Tuesday. First-quarter earnings season was in full swing with three Dow
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Another big gainer was Netflix (NFLX), which reported considerably stronger-than-expected quarterly results, coupled with a bullish assessment of its original series, "House of Cards." All eyes will be on Apple (AAPL) after the closing bell, when the world's biggest technology company reveals its quarterly results. The iPad-maker's behemoth market capitalization means moves in its stock price often have an outsize impact on the markets -- particularly the tech-heavy Nasdaq. The Dow shed close to 145 points in seconds in early afternoon trading after a tweet from the Associated Press said there were "explosions" at the White House. A spokesperson for the wire service told FOX Business the tweet was "bogus" and that the company is "looking into it." The markets rebounded moments later. The Securities and Exchange Commission and Twitter could not immediately be reached for comment. On the economic front, the Commerce Department said sales of new, U.S. single-family homes ticked up 1.5% in March from February to a 417,000-unit annualized rate, falling short of the 420,000-unit rate analysts were expecting. Data on sales of existing homes also came in shy of estimates on Monday. HSBC's China PMI slid to 50.5 in April from 51.6 in March, coming in far short of expectations of 51.5. The reading suggests the manufacturing sector in the world's No. 2 economy expanded at the slowest pace in two months. Hongbin Qu, HSBC's chief economist for China, said in the report that the recent bout of weak data could put pressure on Bejing to ease further. Still, markets in China sold off, with the Hang Seng sliding 1.1%. A separate report from Markit showed business activity in the eurozone contracting at the same pace in April as it did the month before. The services sector shrunk at the slowest pace in two months, but the manufacturing sector contracted at the swiftest pace in four. Indeed, Germany, the bloc's economic engine, saw its business activity skidding into contraction mode for the first time in five months. "The latest figures suggest any rebound in GDP over the first quarter could be rather short-lived, not least as the manufacturing and service sectors both recorded faster declines in new orders than one month earlier," Tom Moore, a senior economist at Markit wrote in the report. In commodities, U.S. oil prices slid 19 cents, or 0.19%, to $88.99 a barrel. Wholesale New York Harbor gasoline sold off by 1.7% to $2.724 a gallon. Gold was down $10.90, or 0.77%, $1,410 a troy ounce.
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Foreign Markets The Euro Stoxx 50 rallied 1.9% to 2634, the English FTSE 100 jumped 1.1% to 6351 and the German DAX soared 1.3% to 7578. In Asia, the Japanese Nikkei 225 ticked lower by 0.29% to 13530 and the Chinese Hang Seng dropped 1.1% to 21807. Follow Adam Samson on Twitter @adamsamson.
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Stocks End Higher on Data | Fox Business


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FOX Business: Capitalism Lives Here The markets posted tepid gains on Thursday on a round of strong jobs data and mixed quarterly earnings. However, the rally lost momentum late in the day on worrisome central bank headlines. Today's Markets
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5
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The Dow Jones Industrial Average rose 24.5 points, or 0.17%, to 14701, the S&P 500 climbed 6.4 points, or 0.4%, to 1585 and the Nasdaq Composite jumped 20.3 points, or 0.62%, to 3289. Global trading desks had a deluge of headlines to parse through on Thursday. The Labor Department said new claims for unemployment benefits fell to 339,000 last week from an upwardly revised 355,000 the week prior. Claims were expected to fall to 351,000 from an initially reported 352,000. The jobs market has been in close focus on Wall Street recently after the March jobs report showed disappointing
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Also helping to keep sentiment rosy has been continued speculation that the European Central Bank might cut interest rates to record lows when it meets next week, while a stream of disappointing data might also keep the Federal Reserve's foot firmly on the accelerator. "Medium-term expectations of easy monetary policy to counter any cyclical slowdown also supported risk appetite," analysts at Barclays wrote to clients Thursday. However, news reports late in the day suggesting the German Bundesbank objects to the so-called Outright Monetary Transactions the European Central Bank uses to buy sovereign debt and other assets took some steam out of the rally. Fed chief Ben Bernanke also made commentary suggesting the financial system remains "vulnerable." Meanwhile, several big-name companies reported earnings on the day. ExxonMobil (XOM) posted first-quarter profits of $2.12 a share, easily beating estimates of $2.05 a share. Revenues of $108.81 billion came in shy of estimates of $119.84 billion. Shares of the worlds biggest publicly-traded energy company traded slightly higher in the pre-market. 3M (MMM) posted first-quarter profits of $1.61 a share on sales of $7.6 billion, missing expectations of earnings of $1.65 a share on $7.81 billion in revenues. United Parcel Service (UPS) revealed first-quarter earnings of $1.04 a share, topping expectations by three cents. Sales of $13.43 billion came in just slightly shy of estimates of $13.46 billion. Amazon.com (AMZN) and Starbucks (SBUX) are due out after the closing bell in New York. In commodities, the benchmark U.S. crude oil contract rallied $1.75, or 1.9%, to $93.18 a barrel. Wholesale New York Harbor gasoline surged 2.1% to $2.804 a gallon. Gold soared $40.20, or 2.8%, to $1,464 a troy ounce. Follow Adam Samson on Twitter @adamsamson.
California city tells Calpers it w ill quit pension fund Gold and Silver Reach New Multi-Year Low s Gold slide flashes w arning signs for global econom y Depreciation: 5 Car Models that Lose Value Fast Dont Buy an Electric Car GE Capital Stops Lending To Gun Shops: WSJ
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Sensex recovers 101 points on better earnings, global cues - The Hindu
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Sensex recovers 101 points on better earnings, global cues

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The BSE benchmark Sensex on Monday recovered by 101 points led by fresh buying in blue-chips such as HUL, ITC, ONGC and ICIC Bank on better earnings and expectations of monetary policy support by the RBI amid a firming global trend. Better-than-expected fourth quarter earnings by FMCG major Hindustan Unilever (HUL) on the back of robust sales across various business verticals, boosted the market sentiment. Shares of FMCG major Hindustan Unilever ended higher by 6.98 per cent. HUL on Monday posted 14.65 per cent increase in its net profit at Rs 787.20 crore for the fourth quarter ended March 31, 2013. The Sensex resumed higher at 19,306.67 and hovered in a range of 19,428.94 and 19,284.40 before ending at 19,387.50 showing a net gain of 100.78 points or 0.52 per cent from its last weekends level. The NSE index Nifty also rose by 32.65 points, or 0.56 per cent, to 5,904.1. Brokers said trading sentiment improved on reports of better quarterly earnings by HUL, Hero MotoCorp, ICICI Bank and Maruti Suzuki. Two-wheeler major Hero MotoCorp jumped by 3.24 per cent despite it reported 4.86 per cent decline in its net profit at Rs 574.23 crore for the fourth quarter ended March 31. IT stocks bounced back in trade today after hammering last week. The market received further support on firming global trend as Italy formed a new government and optimism grew that central banks will decide to maintain economic stimulus in their meetings this week, brokers added. IMF saying the Indias GDP is likely to improve to 5.7 per cent in 2013 and further to 6.2 per cent a year after, also influenced the market sentiment, they added. FIIs bought shares worth a net Rs 224.75 crore on last Friday as per provisional data from the stock exchanges. In 30-BSE index components, 19 stocks closed with gains.
www.thehindu.com/business/markets/sensex-recovers-101-points-on-better-earnings-global-cues/article4666735.ece?css=print 1/2
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Sensex recovers 101 points on better earnings, global cues - The Hindu
The Consumer Durable sector index gained the most by 2.43 per cent followed by FMCG index by 2.30 per cent. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade
Printable v ersion | Apr 2 9 , 2 01 3 8:02 :2 3 PM | http://www.thehindu.com /business/m arkets/sensex-recov ers-1 01 -points-on-better-earnings-global-cues/article4 6 6 6 7 3 5.ece The Hindu
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S&P Logs Fresh Record High as Tech, Materials Rally | Fox Business

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FOX Business: Capitalism Lives Here The markets tacked on solid gains on Monday, pushing the S&P 500 up to a fresh closing high, as traders cheered strong economic data and corporate headlines. Today's Markets
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The Dow Jones Industrial Average climbed 106 points, or 0.72%, to 14819, the S&P 500 gained 11.4 points, or 0.72%, to 1594 and the Nasdaq Composite advanced 27.8 points, or 0.85%, to 3307. The broad S&P 500 closed the day just slightly above its all-time closing high. On the day, the technology sector posted the biggest gains, with heavyweights Apple (AAPL), Google (GOOG) and IBM (IBM) rallying. Other sectors that performed well were energy and materials on the back of big gains in the underlying commodities. Earnings season slows down slightly this week, but the pace of economic reports picks up substantially.
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The Commerce Department said personal income and consumer spending rose 0.2% in March from February. Economists expected income to rise 0.4% and spending to have remained unchanged. Analysts at Nomura wrote to clients that accelerated dividend payments late last year, coupled with bonuses, pushed incomes sharply higher in February. However, they said, the gains are expected to have slowed dramatically in March as those special factors wore off. Separately, the National Association of Realtors reported signed contracts to buy previously-owned homes jumped 1.5% in March on a month-to-month basis, which came in stronger than estimates of a 1% gain. The forward-looking gauge is up 7% compared to the same month in 2012 in the latest sign the housing recovery is continuing. Among the high-profile events this week are a two-day Federal Reserve meeting that kicks off on Tuesday and the all-important monthly jobs report on Friday. Data on the labor market has been especially closely watched after the economy added far fewer jobs than expected in March, putting into question the strength of the recovery. In corporate news, Frank Bisignano resigned a Co-Chief Operating Officer at J.P. Morgan Chase (JPM) to become chief executive at First Data. Matt Zames now becomes the sole COO at the biggest U.S. bank by assets. In metals, gold prices posted sharp gains. The benchmark contract rallied $20.20, or 1.4%, to $1,474 a troy ounce. Oil climbed 35 cents, or 0.38%, to $93.35 a barrel. Wholesale New York Harbor gasoline slipped 0.62% to $2.817 a gallon. Foreign Markets The Euro Stoxx 50 climbed 0.66% to 2701, the English FTSE 100 edged up 0.07% to 6431 and the German DAX advanced 0.4% to 7846. In Asia, the Chinese Hang Seng pushed higher by 0.15% to 22581. Markets in Japan and most others in China were closed for holidays.
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S&P Logs Fresh Record High as Tech, Materials Rally

The markets tacked on solid gains on Monday, pushing the S&P 500 up to a fresh closing high, as traders cheered strong economic data and corporate headlines.
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S&P 500 closes at record high - Apr. 29, 2013
S&P 500 closes at record high

NEW YORK (CNNMoney)
Technology shares sparked a broad rally that boosted the S&P 500 to a record closing high and fueled the tech-heavy Nasdaq to its highest level in more than 12 years. Apple ( AAPL, Fortune 500) was among the top gainers in the Nasdaq-100 and in the S&P 500 following rumors that the iPhone 5S could hit shelves as early as this summer, though the widespread expectation is for a fall release. Hewlett-Packard ( HPQ, Fortune 500), IBM ( IBM, Fortune 500) and Microsoft ( MSFT, Fortune 500) were the biggest winners in the Dow Jones industrial average, which jumped more than 100 points, or 0.7%. U.S. stocks are on track to end April with gains this week. That would mark the fourth straight positive month this year.
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Stocks have been in the black all day, as investors were encouraged by a much better-than-expected report on pending home sales. Sales jumped 1.5% in March versus the expected 0.1% gain. Investors were already in a buying mood following the formation of a new Italian government over the weekend, which ended weeks of political deadlock and uncertainty in a country mired by recession. Italian stocks rallied more than 2% after Enrico Letta was sworn in as Italy's prime minister. The news also pushed Italian bond yields to their lowest levels in more than two years. (More on European markets). Expectations for a further rate cut from the European Central Bank and continued monetary support from the Federal Reserve later this week were also lending support. "The ECB meeting may be the most interesting event this week," wrote Marc Chandler, strategist for Brown Brothers Harriman, adding that the ECB indicated earlier this month that if economic data worsened, it was prepared to cut interest rates.
Related: World's five hottest stock markets
What's moving: Shares of Moody's ( MCO), Standard and Poor's parent McGraw Hill ( MHP, Fortune 500) and Morgan Stanley ( MS, Fortune 500) were big gainers after the firms settled two outstanding lawsuits, dating back to the financial crisis, that accused them of misleading investors about the risks involved with buying bonds backed by subprime mortgages.
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S&P 500 closes at record high - Apr. 29, 2013
J.C. Penney ( JCP, Fortune 500) shares rose after the struggling retailer officially said it had secured a $1.75 billion loan from Goldman Sachs. Shares were also boosted by a New York Post report that claimed "at least" two major hedge funds have taken significant stakes in Penney, with one's investment worth over $10 billion. In other corporate news, JPMorgan Chase ( JPM, Fortune 500) announced Sunday that another of CEO Jamie Dimon's key executives, co-chief operating officer Frank Bisignano, is leaving the firm. Earnings continue to roll in, with controversial supplements company Herbalife ( set to release their quarterly results after the close. HLF) and gun maker Sturm Ruger ( RGR )
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April Advance: Defensives Drive S&P to Record High | Fox Business


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April Advance: Defensives Drive S&P to Record High


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FOX Business: Capitalism Lives Here The broad S&P 500 tacked on 1.8% in April, with traditional defensive plays like telecommunications and utilities leading the run higher. Today's Markets
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The Dow Jones Industrial Average climbed 21.1 points, or 0.14%, to 14840, the S&P 500 rose 4 points, or 0.25%, to 1598 and the Nasdaq Composite climbed 21.8 points, or 0.66%, to 3329.
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The S&P closed out April at its highest level on record. All but two of the major sectors closed out the month in the green. The best performers were counter-cyclical sectors: telecommunications, utilities and consumer staples. The two worst performers were heavily economic and commodity sensitive issues, materials and energy. For the month, the Dow and S&P both climbed 1.8%, while the Nasdaq jumped 1.9%. The Nasdaq also ended at its highest level since November 2000.
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The Institute for Supply Management-Chicagos PMI gauge fell to 49.0 in April from 52.4 the month before. Economists expected a slight uptick to 52.5. Readings above 50 point to expansion in the Midwest manufacturing sector, while those below indicate contraction. Regional manufacturing reads have generally been weak this month, with one from the Dallas Fed on Monday coming in far short of forecasts. "This report is another sign that the economy is stuck on a shallow growth path," Steven Ricchiuto, chief economist at Mizuho Securities USA wrote in an email. Home prices in 20 major U.S. metropolitan areas climbed 0.3% in February from January on a non-seasonally adjusted basis, beating expectations of a gain of 0.2%, according to the S&P/Case-Shiller report. Prices rose 9.3% from the same month in 2012, also topping forecasts of a 9% advance. The housing market has seen considerable recovery since the collapse in late 2007. Indeed, the Federal Reserve has cited the gains seen in housing as critical to the broader recovery. A separate report from the Conference Board showed consumer sentiment surging far more than expected in April. The gauge of zipped to 68.1 in April from March, topping economists' estimates of 60.8. "Consumer confidence has been volatile in recent months; while we expect that underlying recoveries in housing and labor markets will gradually push confidence higher, it could remain volatile on a monthto-month basis as fiscal tightening continues to take effect," Cooper Howes, an economist at Barclays wrote in a note to clients. The Fed also kicks off its two-day policy meeting on the day. A statement is due on Wednesday. Economists broadly expect the central bank to hold interest rates at historic lows -- per the unemployment and inflation targets it set -- and keep the pace of its asset purchases at $85 billion a month. However, Fed watchers will be looking for clues on when the central bank will begin tapering its vast quantitative easing program. On the corporate front, IBM (IBM) said its board approved a 12% dividend hike and a $5 billion share buyback plan. Pfizer (PFE) revealed adjusted first-quarter profits of 54 cents a share, missing estimates by a penny. Sales of $13.5 billion also came in shy of expectations of $13.99 billion. Shares slid more than 3%.
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Oil futures were solidly lower. The benchmark U.S. contract dipped $1.04, or 1.1%, to $93.46 a barrel. Wholesale New York Harbor gasoline fell 0.94% to $2.80 a gallon. In metals, gold advanced $4.70, or 0.32%, to $1,472 a troy once. Foreign Markets The Euro Stoxx 50 dipped 0.18% to 2713, the English FTSE 100 fell 0.12% to 6450 and the German DAX rose 0.49% to 7912. In Asia, the Japanese Nikkei 225 slumped 0.17% to 13861 and the Chinese Hang Seng climbed 0.69% to 22737. Follow Adam Samson on Twitter @adamsamson.
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ECB Cut, Strong Data Launch Stocks Higher | Fox Business


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ECB Cut, Strong Data Launch Stocks Higher

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FOX Business: Capitalism Lives Here The markets zoomed higher on Thursday, in stark contrast to the rout last session, as traders cheered the ECB's move to quell the eurozone debt crisis and a batch of strong U.S. data. Today's Markets
1 ECB Cut, Strong Data Launch Stocks Higher

2 U.S. Opposes Japan's Nuclear Plan
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4 Ex-fund manager sentenced to prison for insider trading
5 Boeing Board of Directors Allows Sale of 777X
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The Dow Jones Industrial Average climbed 131 points, or 0.89%, to 14832, the S&P 500 gained 14.9 points, or 0.94%, to 1598 and the Nasdaq Composite rose 41.5 points, or 1.3%, to 3341.
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The markets took a pounding on Wednesday on worries the U.S. labor market is struggling even more than some economists had feared. The focus on the world economy continued into Thursday. In fact, economically-sensitive stocks performed the best. Energy, technology industrial and health-care stocks were leading the way. Meanwhile, utility and telecommunications stocks fared the worst.
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The European Central Bank cut its main refinancing rate 0.25percentage point to 0.5%. The move comes amid a slew of data suggesting the eurozone's economy is continuing to struggle under the weight of the 17-member currency bloc's debt crisis. Indeed, a report from Markit showed the pace of the contraction in the eurozone's manufacturing picking up slightly in April from the month before. Particularly worrisome, economists said, were data suggesting Germany's factory sector contracting for the first time this year. Germany is Europe's economic powerhouse, and has managed to shake off the headwinds from the bloc's debt crisis. There are also a handful of reports due out on the U.S. economy. The Labor Department said new claims for unemployment benefits fell to 324,000 last week from an upwardly revised 342,000 the week prior. Claims were expected to fall to 345,000 from an initially reported 339,000. Meanwhile, employers announced plans to cut 38,121 jobs in April, representing a 23% drop from March, and a 6% decline from the year prior, according Challenger, Gray & Christmas. The labor market has come under intense focus as the Federal Reserve has said it is prepared to continue its aggressive easing plan until the unemployment rate falls to 6.5%. The latest round of monthly job figures from the Labor Department is due out on Friday. Another report from the Commerce Department showed the U.S. trade gap narrowing to $38.8 billion in March from $43.6 billion in February, coming in considerably narrower than estimates of $42 billion. The measure figures into first-quarter gross domestic product. In commodities, the benchmark U.S. crude oil contract zoomed higher by $2.99, or 3.3%, to $94.02 a barrel. Wholesale New York Harbor gasoline gained 1.9% to $2.771 a gallon. Gold jumped $20.20, or 1.4%, to $1,466 a troy ounce. Facebook (FB) revealed first-quarter profits that narrowly missed expectations, but sales that exceeded forecasts after the bell on Wednesday. Shares of the world's biggest social network were higher on the news.
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Sensex hits three-month high ahead of RBI meet, rises 232 points - The Hindu
Business Markets
Published: May 2, 2013 16:42 IST | Updated: May 2, 2013 16:42 IST
Sensex hits three-month high ahead of RBI meet, rises 232 points
PTI
A file picture of Bombay Stock Exchange in Mumbai. Photo: Vivek Bendre
The Hindu
The BSE benchmark Sensex today jumped 232 points to close at three-month high of 19,735.77 led by funds buying in blue chips on expectations of rate cut by the RBI tomorrow. The Sensex spurted by 231.59 points, or 1.19 per cent to 19,735.77, a level last seen on February. With the firming trend, the broad-based National Stock Exchange index Nifty hit a psychological 6,000 level before ending with a gain of 69.15 points, or 1.17 per cent to 5,999.35. Brokers said trading sentiment firmed up as easing global commodity and slowing inflation provided enough room for the Reserve Bank of India to cut interest rate in its credit policy meeting tomorrow. They said financial and interest-linked counters were in keen demand and fetched significant volumes on fund-based buying. State Bank surged 1.55 per cent to Rs 2,299.35, after losing ground in last three trading sessions while Housing Development Finance Corp, a biggest mortgage lender, rose 1.99 per cent to Rs 864.10. HDFC Bank advanced 1.47 per cent to Rs 692.15 ICICI Bank by 0.74 per cent to Rs 1,171.80. The two most heavy with their 16 per cent weightage on the Sensex - Reliance Industries spurted by 1.85 per cent to Rs 802.75 and Infosys by 2.35 per cent to Rs 2,286.90. Larsen rose by 2.61 per cent to Rs 1,552.15. Bucking the general firming trend, Bharti Airtel fell by 0.64 per cent to Rs 316.70 on disappointing quarter earnings. In 30-BSE index components, 18 stocks closed with gains led by TCS, Mahindra & Mahindra, Larsen & Toubro, Infosys, HDFC and RIL. Keywords: Sensex, Bombay Stock Exchange, RBI meet
Printable v ersion | May 2 , 2 01 3 1 0:4 2 :3 8 PM | http://www.thehindu.com /business/m arkets/sensex-hits-threem onth-high-ahead-of-rbi-m eet-rises-2 3 2 points/article4 6 7 6 7 2 3 .ece The Hindu
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Dow tops 15,000 on jobs report - May. 3, 2013
Dow tops 15,000 on jobs report

By Ben Rooney @CNNMoneyInvest May 3, 2013: 4:12 PM ET
NEW YORK (CNNMoney)
Investors cheered the latest report on the U.S. job market Friday, pushing the Dow Jones industrial average briefly above 15,000 for the first time. The Dow rose 0.9% to end the day at 14,972. The S&P 500 gained 1%, rising above 1,600 for the first time. The Nasdaq gained 1.1% to end at the highest level since November 2000. "The round numbers are psychologically important, especially for those cautious investors sitting with their cash on the sidelines," said Jack Ablin, chief investment officer at BMO Private Bank. Stocks could continue moving higher as individual investors who missed the rally of the past few years have been drawn back in as stocks hit new highs. There's also a lack of alternatives for investors who hope to earn more than the meager rate on U.S. Treasuries. (See: Waiting for the bond bubble to pop) "I'll call it a momentum effect," said Ablin.
Click here for more on stocks, bonds, currencies and commodities
The rally caps a solid week: The Dow rose 1.8%; the S&P gained 2% and the Nasdaq added 3%. April was another strong month, with the S&P 500 advancing for the sixth consecutive month. Friday's gains came on the back of positive jobs data. The U.S. economy added 165,000 jobs in April, according to the government's latest report. The unemployment rate dipped to 7.5% from the prior month's rate of 7.6%. Both numbers were better than expected, easing concerns about a summer slowdown in the economy. But the unemployment rate is still well above the level at which the Federal Reserve has said it will ease its stimulus program. "Good numbers all around, but still shy of where they need to be to drive the economy forward or get the Fed to consider lowering its 'buying' number in the coming months," said Kevin Giddis, head of fixed-income at Raymond James. The jobs data, which came after a string of disappointing reports this week, overshadowed other less encouraging economic data released Friday.
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Dow tops 15,000 on jobs report - May. 3, 2013
Factory orders fell 0.4% in March, according to the Census Bureau. The report was worse than expected and came after a 1.9% drop in February. The Institute for Supply Management said its index of activity in the services sector fell in April, but remained above the level indicating growth.
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What's moving: LinkedIn ( guidance. AIG (
LNKD) shares plunged after the professional-networking site offered weak second-quarter
AIG, Fortune 500) shares rose after the insurer reported earnings that beat expectations Thursday. SPLS, Fortune 500) announced plans to sell the
Shares of 3D Systems ( DDD) rose after office supplies retailer Staples ( company's 3-D printer. Yahoo ( plan.
YHOO, Fortune 500) shares rose to a five-year high on renewed optimism over the Internet pioneer's turnaround BRKA, Fortune 500) is scheduled to release quarterly earnings after
Warren Buffett's investment firm Berkshire Hathaway ( the market close.
European markets rose despite a grim economic forecast from the European Union. The EU trimmed its forecast for the eurozone gross domestic product, to a decline of 0.4% in 2013. The forecast for 2014 was also trimmed, to a gain of 1.2%. Asian markets ended higher. The Shanghai Composite added 1.4% and the Hang Seng increased 0.1%. Japan's Nikkei was closed for a holiday.
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Stocks Surge, Dow Tops 15K for First Time Ever | Fox Business

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Stocks Surge, Dow Tops 15K for First Time Ever

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FOX Business: Capitalism Lives Here The blue-chip average roared past the 15000 mark for the first time ever as traders cheered data suggesting than labor market is in better condition than previous thought. Today's Markets
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As of 3:06 p.m. ET, the Dow Jones Industrial Average rallied 139 points, or 0.94%, to 14971, the S&P 500 jumped 16.2 points, or 1%, to 1614 and the Nasdaq Composite surged 37.8 points, or 1.1%, to 3378.
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Wall Street has had a manic week: The markets sold off on Wednesday, just to rally on Thursday. Now, world trading desks have focused their attention squarely on the American economy. The Dow and S&P 500 both hit milestones. The blue-chip average topped 15000 for the first time ever, while the broader S&P surpassed 1600. Both were up more than 13% on the year. Economically-sensitive stocks led the way higher. Industrial, materials, financial and consumer discretionary names fared the best. Defensive plays like utilities, telecommunications and consumer staples performed the worst. Economic Woes 'In the Rearview Mirror' The Labor Department said nonfarm payrolls rose by 165,000 in April from March, beating expectations of 145,000. The unemployment rate ticked down to 7.5% from 7.6% for the month, the lowest level since December 2008. Economists expected the rate to hold steady. Marchs nonfarm payroll increase was also revised up to 138,000 from a previously reported 88,000. Economic "headwinds are now in the rearview mirror," Todd Schoenberger, managing partner at LandColt Capital said.
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"For investors, todays report is a 'green light' of sorts," Dan Greenhaus, chief global strategist at BTIG wrote in an email. Michael Block, chief equities strategist at Phoenix Partners Group, echoed that sentiment. He said to expect a pullback on Monday, but then gains throughout next week as investment managers move clients' money off the sidelines and into equities. Also on the economic front, the Institute for Supply Management's gauge of service sector activity fell to 55.0 in April from 56.5 in March, missing expectations of 56.0, and suggesting the sector is expanding at a slower pace. Readings above 50 point to expansion, while those below point to contraction. Meanwhile, the Commerce Department reported factory orders tumbled 4% in March from February, considerably worse than expectations of a 2.6% decline. Excluding the transportation segment, orders were down 2%. Energy Futures Rally, Gold Trails Oil and gasoline prices were sharply. The benchmark U.S. oil contract traded in New York jumped $1.62, or 1.7%, to $95.61 a barrel. Wholesale New York Harbor gasoline rallied 1.6% to $2.825 a gallon. In metals, gold fell $3.40, or 0.23%, to $1,464 a troy ounce. In corporate news, The New York Times reported regulators have stepped up their probe into alleged power market manipulation by J.P. Morgan Chase (JPM). The paper cited a confidential document it obtained in the article. Foreign Markets The Euro Stoxx 50 rose 0.01% to 2719, the English FTSE 100 climbed 0.25% to 6477 and the German DAX gained 0.19% to 7977. In Asia, the Chinese Hang Seng ticked up 0.1% to 22690. The Tokyo Stock Exchange was closed for Constitution Memorial Day.
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Sensex rises 98 points; RIL, Infosys, TCS lead gain - The Hindu
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Sensex rises 98 points; RIL, Infosys, TCS lead gain

PTI
The BSE benchmark Sensex on Monday recovered by 98 points on buying in heavy-weight front runners such as Reliance Industries, Infosys and TCS amid firming global trend. The Sensex recovered by 98 points, or 0.50 per cent, to close at 19,673.64 led by stocks of IT and metals. The index had lost 160 points in the previous session. Similarly, the broad-based National Stock Exchange index Nifty rose by 27.05 points, or 0.46 per cent, to 5,971.05. Brokers said trading sentiments bolstered as the Reserve Bank of India cut key interest rates on Friday to give a push to the slowing economic growth. They said foreign as well as domestic funds were seen enlarging their holding in fundamentally strong stocks available at attractive lower levels after recent bear phase. A better trend in the Asian region and higher opening in Europe after more-than-expected rise in the US job data signalled improvement in global economy, was another supporting factor, they added. The two most-heavy with nearly 16 per cent weightage on the Sensex, Reliance Industries and Infosys shot up by 2.53 per cent to Rs 821.50 and by 1.46 per cent to Rs 2,341.40, respectively. The software major Tata Consultancy Services spurted by 3.25 per cent to Rs 1,464.85. The metal sector index gained the most by rising 1.98 per cent to 8,960.04 on hopes of better realisations after the copper rose over six per cent on Friday, its steepest single day gain in 18 months. The IT sector index was second best performer by rising 1.88 per cent to 5,991.62 as investors felt an improvement in global economy would boost demand. The countrys software exporting companies get over 60 per cent from the US and European markets. In 30-BSE index components, 21 stocks closed higher while nine ended with losses. Keywords: Bombay Stock Exchange, Sensex, RIL, Infosys, TCS
Printable v ersion | May 7 , 2 01 3 7 :3 4 :59 AM | http://www.thehindu.com /business/m arkets/sensex-rises-9 8-points-ril-infosy s-tcs-lead-gain/article4 6 89 1 7 3 .ece
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Sensex hits 3-month high, rises 215 points; Nifty regains 6,000 mark - The Hindu
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Sensex hits 3-month high, rises 215 points; Nifty regains 6,000 mark
PTI
The BSE benchmark Sensex on Tuesday rose over 215 points to close at three-month of 19,888.95 and Nifty regained 6,000-point mark on sustained buying by FIIs in banking, FMCG, realty and auto sector stocks. The Sensex rose by 215.31 points, or 1.09 per cent, to 19,888.95, a level last seen on January 31. The index had gained 98 points in the previous session. The gauge had touched the days high of 19,917.88. Similarly, the National Stock Exchange index, Nifty regained 6,000 points level by rising 72.50 points, or 1.21 per cent, to close at 6,043.55. MCX-SX index SX40 rose 90.92 points, or 0.78 per cent, to close at 11,731.20 points. Brokers said the buying activity gathered momentum, tracking a strong rally in global markets on the back of lower borrowing costs after Reserve Bank of Australia cut its benchmark interest rate, lifting bluechips further higher. Besides, expectations of an encouraging IIP data for March to be released later this week, too generated buying activity, they said. Broad based buying was seen and index heavyweights like Reliance, ITC, HDFC Bank and Axis Bank aided the index to move upwards. European markets were also in positive terrain, said Nidhi Saraswat, Senior Research Analyst, Bonanza Portfolio Ltd. The stock of HUL remained centre of brisk activity by surging 1.09 per cent to Rs 579.55, Jubilant Food by 1.18 per cent to Rs 1,136.70, while a well-diversified ITC Ltd gained 2.73 per cent to Rs 335.20. In 30-BSE index-components, 25 stocks climbed, while five closed with losses. The FMCG sector gained the most by 2.00 per cent to 6,657.58 points and banking index was the second best performer by adding 1.80 per cent to 14,436.99 as stocks of State Bank of India, Yes Bank, ICICI Bank, HDFC Bank,
www.thehindu.com/business/markets/sensex-hits-3month-high-rises-215-points-nifty-regains-6000-mark/article4692513.ece?css=print 1/2
5/7/13
Sensex hits 3-month high, rises 215 points; Nifty regains 6,000 mark - The Hindu
Axis Bank and Bank of Baroda Indusind Bank recorded smart gains. The interest-sensitive realty sector index rose 1.40 per cent to 1,933.35, while auto sector index gained 1.12 per cent to 11,105.38 followed by capital goods by 0.90 per cent to 10,045.08, healthcare index by 0.88 per cent to 8,875.41. Keywords: Bombay Stock Exchange, Sensex, Nifty, stocks, closing trade
Printable v ersion | May 7 , 2 01 3 5:56 :01 PM | http://www.thehindu.com /business/m arkets/sensex-hits-3 m onth-high-rises-2 1 5-points-nifty -regains-6 000m ark/article4 6 9 2 51 3 .ece The Hindu
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Dow closes above 15,000 for the first time ever - May. 7, 2013
Dow closes above 15,000

By Maureen Farrell @Maureenmfarrell May 7, 2013: 4:31 PM ET
NEW YORK (CNNMoney)
It was another record-setting day on Wall Street. This time, the Dow closed above 15,000 for the first time ever, hitting 15,056. Investors also pushed the S&P 500 to a new record. The broad index gained 0.5% to end at 1,625.96
Related: 20 biggest stock gainers
The stock euphoria didn't touch the Nasdaq. The tech-heavy index ticked up just 0.1% after wafting on either side of the breakeven line for much of the day. Stocks have had a remarkable run this year, with all three indexes logging gains of 14% to 15% so far. Click here for more on stocks, bonds, currencies and commodities Corporate earnings dominate: Shares of DirecTV ( expected earnings. Molson Coors Brewing ( First Solar's ( Tesla's ( DTV, Fortune 500) popped, after the company reported better-than-
TAP), meanwhile, reported sales and profits that fell short of forecasts.
FSLR) stock plunged, after the company missed earnings estimates.
TSLA) stock dropped, after CEO Elon Musk said a self-driving Tesla car is still several years from production.
OfficeMax ( OMX, Fortune 500) widely missed earnings forecasts and said revenue this year would come in below analysts' estimates. At the same time, the office supply company issued a special dividend of $1.50 a share. Also, Walt Disney Company ( DIS, Fortune 500) inked a deal with Electronic Arts ( Reporting after the bell, Disney beat earnings and revenue estimates. Shares of Whole Foods ( Kraft spin-off Mondelez ( EA) to co-develop Star Wars video games.
WFM, Fortune 500) soared in aftermarket trading, after the supermarket store beat estimates. MDLZ) didn't fare as well after hours. Its profits dipped, but shares still rose slightly.
Related: Fear & Greed Index edging toward extreme greed
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Dow closes above 15,000 for the first time ever - May. 7, 2013
European markets closed higher, driven by strong results from financial firms Societe Generale (
SCGLF) and HSBC (
HBC).
Asian markets ended higher. The Shanghai Composite increased 0.2% and the Hang Seng added 0.6%. The Nikkei rose 3.6% to close above the 14,000 point barrier as traders returned after a holiday.
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Dow, S&P Zip Into Uncharted Territory | Fox Business


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FOX Business: Capitalism Lives Here The Dow and broader S&P 500 jumped to fresh all-time highs on Tuesday, with the blue-chip average closing above 15000 for the first time ever, on the back of a strong European session. Today's Markets
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According to preliminary calculations, the Dow Jones Industrial Average climbed 86.7 points, or 0.58%, to 15056, the S&P 500 gained 8.4 points, or 0.52%, to 1625 and the Nasdaq Composite advanced 3.7 points, or 0.11%, to 3397. It was another day of making milestones for Wall Street. The Dow ended above 15000, and the S&P hit its tenth record high of the year. With little in the way of economic data released on the day, events in Europe were driving trading. The German DAX, which is the country's benchmark index, rallied 0.87% to an all-time high on the day. A report showed German industrial orders climbing 2.2% in March, much better than expectations of a 0.5% dip. The data came as good new from Europe's largest economy that has been struggling against headwinds from the continent's debt crisis.
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The Federal Reserve said consumer credit rose by $7.97 billion in March, the gain since July, and much less than the $16 billion economists expected. Revolving credit, like credit cards, $1.71 billion for the month, while none-revolving credit climbed $9.68 billion. Energy futures were mildly lower. The benchmark U.S. crude oil contract dipped 44 cents, or 0.45%, to $95.73 a barrel. Wholesale New York Harbor gasoline fell 0.42% to $2.854 a gallon. In metals, gold slumped $6.40, or 0.44%, to $1,462 a troy ounce. Foreign Markets The Euro Stoxx 50 jumped 0.75% to 2771, the English FTSE climbed 0.4% to 6548 and the German DAX rallied 0.92% to 8187. In Asia, the Japanese Nikkei 225 surged 3.6% to 14180 and the Chinese Hang Seng advanced 0.58% to 23047. Follow Adam Samson on Twitter @adamsamson.
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Sensex touches 20k level; HDFC, ITC lead gain - The Hindu
Business Markets
Sensex touches 20k level; HDFC, ITC lead gain

PTI
The BSE benchmark Sensex on Wednesday regained 20,000 level for the first time in over three months on sustained capital inflows and better earnings, but slipped to close a tad lower. After hitting 20,000 level, the Sensex closed 101.23 points, or 0.51 per cent, at 19,990.18, a level last seen on January 31. It had gained 313 points in last two sessions. The current upsurge was supported by stocks of FMCG, oil and gas and banking sectors, besides a rally in HDFC Ltd and Lupin Ltd on better earnings. The broad-based National Stock Exchange index Nifty rose by 25.75 points, or 0.43 per cent, to 6,069.30. MCX Stock Exchange (MCX-SX) flagship index SX40 rose 65.53 points, 0.56 per cent, to close at 11,796.74 points on Wednesday. Brokers said the market remained in bullish mode ever since the Reserve Bank of India cut key interest rate to bolster economic growth last week and heavy foreign funds inflows. Foreign funds bought a net $ 171 million of Indian shares in the previous session, extending their net investment this year to $ 12 billion, a record for the period. They said a firming global trend as Chinas exports topped estimates and European central bank cutting interest rates to revive economy, further fuelled the uptrend. In 30-BSE index components, 14 stocks gained led by HDFC Ltd, HDFC Bank, ITC Ltd, Reliance Industries and Infosys, Tata Consultancy Services. The FMCG sector index gained the most by 1.43 per cent to 6,752.61 followed by oil and gas index by 0.11 per cent to
www.thehindu.com/business/markets/sensex-touches-20k-level-hdfc-itc-lead-gain/article4695622.ece?homepage=true&css=print 1/2
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Sensex touches 20k level; HDFC, ITC lead gain - The Hindu
8,850.12. Banking index rose by 0.11 per cent to 14,453.21 and healthcare index by 0.08 per cent to 8,882.43. Keywords: Sensex, Bombay Stock Exchange, FMCG sector, FDI
Printable v ersion | May 9 , 2 01 3 8:56 :3 5 AM | http://www.thehindu.com /business/m arkets/sensex-touches-2 0k-lev el-hdfc-itc-lead-gain/article4 6 9 56 2 2 .ece The Hindu
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S&P 500 Notches 5th Consecutive Record Close | Fox Business


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FOX Business: Capitalism Lives Here Shaking off some initial apprehension, U.S. stocks landed solidly in the green on Wednesday, leaving the S&P 500 with its first five-day string of record closes since the Clinton Administration. Today's Markets

2 China exports set to underscore worries over U.S., Europe demand
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The Dow Jones Industrial Average rose 48.92 points, or 0.32%, to 15105.12, the S&P 500 climbed 6.73 points, or 0.41%, to 1632.69 and the Nasdaq Composite advanced 16.64 points, or 0.49%, to 3413.27. The modest rally also carried the Dow further above the 15000 mark, just a day after the blue-chip index closed above that level for the first time on record. The index has now rallied eight of the past 10 sessions and celebrated 17 record closes so far this year. Both the Nasdaq and S&P 500 notched their fifth consecutive daily gain, with the latter finishing at a record for the fifth day in a row, the longest such streak since May 1998.
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$18.2 billion, considerably better than expectations of $15.1 billion. The data helped ease concerns that the world's second-biggest economy is in for a soft landing. However, economists generally struck a cautious tone in regard to the report. "We believe the strong trade growth is not indicative of a growth recovery. Instead, it may have reflected continued capital inflows in April," Zhiwei Zhang, an economist at Nomura, a Japan-based bank wrote to clients of the report. German industrial production also came in considerably stronger than expectations. Europe's economic powerhouse saw its factory output rev up by 1.2% in March from April, compared to expectations of a 0.1% slump. Thomas Harjes, an economist at UK-based Barclays, wrote to clients that the data "point to stronger industrial activity ahead." Harjes noted, however, that the situation there remains fragile. "The positive momentum is still tentative and the latest (April) survey results (IFO/PMIs) signal some downside risk," he wrote. Also on the economic front, Goldman Sachs Chief U.S. Economist Jan Hatzius weighed in on the state of the U.S. economy in a note to the investment-banking giant's clients late Tuesday. He said growth is stabilizing at a lower pace than it did in the first part of 2013, but then it is expected to heat up solidly next year. Hatzius also said he expects the Federal Reserve to begin tapering its vast quantitative easing program late this year, or early next year. Elsewhere, McDonald's (MCD), the world's biggest burger chain, said its same-store sales fell 0.6% in April, which was slightly steeper than the 0.48% Wall Street anticipated. Delta Air Lines (DAL) initiated a quarterly dividend of six cents a share, and authorized a $500 million share buyback plan. On the M&A front, Trulia (TRLA) inked a deal to acquire real-estate software maker Market Leader (LEDR) in a deal valued at $355 million. Also, Yahoo (YHOO) has reportedly held preliminary meetings with top execs at Hulu, signaling possible interest in acquiring the premium video site. In metals, gold rallied $24.90, or 1.72%, to $1,473.90 a troy ounce. Energy futures were mixed. U.S. crude oil $1.00, or 1.05%, to $96.62 a barrel. Wholesale New York Harbor gasoline dipped 0.72% to $2.85 a gallon. Foreign Markets
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The Euro Stoxx 50 rose 0.56% to 2784.62, the English FTSE 100 gained 0.40% to 6583.48 and the German DAX jumped 0.83% to 8249.71. In Asia, the Japanese Nikkei 225 rallied 0.74% to 14286 and the Chinese Hang Seng advanced 0.86% to 23244. Follow Adam Samson on Twitter @adamsamson.
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Dow, S&P hit new highs in quiet trading - May. 8, 2013
Dow, S&P hit new highs in quiet trading

By Maureen Farrell and Ben Rooney @CNNMoneyInvest May 8, 2013: 4:43 PM ET
NEW YORK (CNNMoney)
U.S. stocks pushed higher into record territory Wednesday as investors focused on earnings and an improved outlook for the economy. The Dow Jones industrial average rose 0.3% to end at a record high, one day after the index closed above 15,000 for the first time. The S&P 500 gained 0.4% to also end at another all-time peak. The Nasdaq added 0.5%. Investors have been encouraged by better-than-expected corporate earnings for the first quarter, although revenue growth has been weak, said Joe Bell of Schaeffer's Investment Research. Out of the S&P 500 companies that have reported earnings, 67% have beat analysts' expectations, according to S&P Capital IQ. Stocks have also been supported by renewed optimism about the economy following last week's surprisingly strong jobs report. "We've been grinding higher on that momentum," said Bell.
There were no major U.S. economic reports Wednesday, although data on Chinese exports and German industrial output were "encouraging," said Peter Cardillo, chief market economist at Rockwell Global Capital. But there were a lot of earnings. Whole Foods ( quarterly earnings that beat estimates. Electronic Arts ( WFM, Fortune 500) shares surged after the supermarket chain reported
EA) said it expects earnings in fiscal 2014 to be above what analysts had expected. Shares jumped 15%.
Related: Hedge fund manager Ackman takes aim at P&P chief
Toyota Motors (
TM) reported a surge in profit for its fiscal year 2013, which ended on March 31.
Shares of JCPenney ( JCP, Fortune 500) rose after the troubled retailer released a preliminary report showing a decline in quarterly sales that may not have been as bad as some had expected. Wendy's ( WEN) shares fell after the restaurant chain reported sales that missed forecasts. Investors slammed AOL ( for missing earnings estimates. (You've got fail! AOL down 10%) AOL)
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Dow, S&P hit new highs in quiet trading - May. 8, 2013
Apple ( AAPL, Fortune 500) shares extended the rally they've enjoyed since the company announced a record share buyback program last month. Shares of Manchester United ( MANU) fell nearly after the long-time manager of the English soccer team announced he would retire. This comes less than a year after the company went public. (How Man U makes money)
Related: Apple picks itself up off the mat
After the market closed, Green Mountain Coffee Roasters ( announced plans to extend its partnership with Starbucks ( trading. Electric car maker Tesla ( in after-hours trading.
GMCR)reported earnings that beat analysts' expectations and SBUX, Fortune 500). Green Mountain surged 13% in extended
TSLA) reported a quarterly profit and sales that exceeded forecasts. Shares popped more than 10%
Groupon ( GRPN) reported another quarterly loss, although the daily deals website said revenue growth accelerated. Shares soared after hours. News Corp ( NWS) said sales rose in the first quarter and reported earnings that met analysts' expectations.
Monster Beverage ( MNST) reported earnings that were below analysts' expectations, despite a rise in sales. The company, which has been criticized for marketing highly caffeinated drinks to children, blamed the drop in earnings on legal costs and other short-term factors.
Related: Fear & Greed Index gets extremely greedy
European markets closed higher, with the Euronext 100 index displaying some solid support. Asian markets also finished the day with gains. The Nikkei added 0.7%, the Hang Seng increased 0.8% and the Shanghai Composite rose 0.5%.
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Sensex ends above 20k-level after 100 days - The Hindu
Business Markets
Sensex ends above 20k-level after 100 days

PTI
A banner outside the Bombay Stock Exchange at Dalal Street in Mumbai. A file photo.
BL
The BSE benchmark Sensex on Friday closed above the much-awaited 20,000 mark after a gap of 100 days and the NSE Nifty closed at its highest level in 2013 on heavy buying in auto, consumer durables, FMCG and banking shares amid improvement in IIP suggesting pick-up in growth. After a better start, the 30-share Sensex ended higher by 143.58 points, or 0.73 per cent to 20,082.62, a level last seen on January 30. The index had touched 20,000-mark in the last few sessions but on Friday closed above the key level on sustained buying by FIIs. The broad-based National Stock Exchange index Nifty rose by 44.60 points, or 0.74 per cent to calendar years highest level of 6,094.75. Similarly, MCX-SX flagship index SX40 closed up by 80.66 points, or 0.68 per cent, at 11,874.70. Brokers said trading sentiment was bolstered on robust inflow of foreign funds into the domestic markets amid data showing industrial production during March improved to 2.5 per cent, raising hopes of economic growth crossing 6 per cent mark in the current fiscal. Indian indices rose once again today on the back of gains in several of the index stocks across sectors. Auto stocks gained the most in todays trade, while banking stocks also were among major gainers. Supportive Asian and European cues helped, said Dipen Shah, Head of Private Client Group Research, Kotak Securities. In 30-scrip Sensex, 18 stocks gained led by Maruti Suzuki, ITC Ltd., Bajaj Auto, Mahindra and Mahindra, Tata Motors, Hero MotoCorp, Hindalco and ICICI Bank. Sectorally, the auto sector index gained the most by rising 2.20 per cent, followed by consumer durable index at 2.03 per cent, the FMCG index 1.42 per cent and banking index at 1.23 per cent. FIIs have bought over $ 12 billion of Indian equities so far this year, a record for the period. Keywords: Bombay Stock Exchange, Sensex, IIP, Manufacturing sector
Printable v ersion | May 1 2 , 2 01 3 9 :2 7 :54 AM | http://www.thehindu.com /business/m arkets/sensex-ends-abov e-2 0klev el-after-1 00-day s/article4 7 02 558.ece
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Dow, S&P 500 in Third-Straight Weekly Advance | Fox Business


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FOX Business: Capitalism Lives Here The Dow and broader S&P 500 both logged their third-straight weekly advance as traders remained upbeat on the economy and corporate profits. Today's Markets
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The Dow Jones Industrial Average climbed 35.9 points, or 0.24%, to 15118, the S&P 500 rose 7 points, or 0.43%, to 1634 and the Nasdaq Composite ticked up 27.4 points, or 0.8%, to 3437.
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It was a relatively quiet week on Wall Street, with the pace of economic and corporate releases slowing dramatically. However, both the Dow and S&P ended at record highs.
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Trading desks continued paying close attention to Japan. The Japanese yen tumbled 3% to the lowest level in more than four years against the greenback. The fall is the latest leg of a nosedive sparked by a new monetary policy from the Bank of Japan wherein the central bank has pledged to do whatever it takes to push inflation up to 2%. The sliding yen left the dollar up 0.35% against a basket of world currencies. Oftentimes, strength in the dollar puts pressure on dollartraded commodities. Gold dropped $32, or 2.2%, to $1,437 a troy ounce. In energy markets, oil skidded 36 cents, or 0.36%, to $96.04 a barrel. Wholesale New York Harbor gasoline slumped 0.86% to $2.86. In economic news, the U.S. federal budget surplus came in at $112.9 billion in April, up from $59 billion in the same month in 2012. The government is running a $488 billion deficit for fiscal 2013, down from $720 billion in a comparable period in fiscal 2012. In corporate news, Hess (HES) said it would break up its chairman and CEO roles amid increased shareholder from activist investors. J.P. Morgan Chases (JPM) lead director said in a letter to shareholders that it could be disruptive to the biggest U.S. bank by assets to break up the chairman and chief executive roles currently held by Jamie Dimon. Multiple shareholder groups have pushed for the move to increase governance. Foreign Markets The Euro Stoxx 50 climbed 0.54% to 2788, the English FTSE 100 rose 0.4% to 6619 and the German DAX edged up 0.53% to 8306. In Asia, the Japanese Nikkei 225 soared 2.9% to to 14608 and the Chinese Hang Seng ticked up 0.47% to 23321. Follow Adam Samson on Twitter @adamsamson.
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Stocks hit new highs in three week streak - May. 10, 2013
Stocks: New highs during three week winning streak

NEW YORK (CNNMoney)
The rally on Wall Street continues, with stocks ending Friday at fresh record highs. After seesawing for most of the day, the Dow Jones industrial average rose 0.2% to end at a new record high. The S&P 500 also hit a new record high, adding 0.4%. The Nasdaq gained 0.8%. The advance capped a third week of gains for the indexes. The Dow and S&P both held firmly above key psychological levels (15,000 and 1,600 respectively). Still, investors were largely focused on the foreign exchange market, where the U.S. dollar has been on a tear versus the Japanese yen and other currencies. "We're watching the strengthening dollar because that tends to be a good indicator of equity moves," said Art Hogan, managing director at Lazard Capital Markets. Much of the action Friday was in Tokyo. Japan's Nikkei surged 3% to a five-year high as the yen continued to weaken against the U.S. dollar, which rose to 101 one day after hitting 100 for the first time in four years. Currency war? The yen is down 15% against the greenback so far this year as the Bank of Japan is on a mission to beat deflation by pumping money into the economy. But traders said the latest move has more to do with a strong dollar than a weak yen. The dollar has been boosted recently by signs of strength in the U.S. job market and interest rate cuts from a parade of central banks. Speaking of central bank intervention, Federal Reserve Chairman Ben Bernanke said after a speech in Chicago that the central bank is keeping an eye out for bubbles in the financial system, but he did not address the central bank's controversial asset purchasing program.
Related: Nikkei at 5-year high
Meanwhile, finance officials from the world's top seven economic powers are meeting near London Friday for talks on the global economy. The G7 ministers are expected to reaffirm their previous statement that they are focused on boosting growth, while also refraining from "competitive devaluation," the technical term for a currency war. Afraid to bail on the bull. There were few major corporate or economic reports to drive stocks Friday. Investor sentiment is "cautiously optimistic," said David Madden, market analyst at IG Markets in London.
5/10/13
Stocks hit new highs in three week streak - May. 10, 2013
"Nobody wants to buy at the top, but given how anxiously central banks will push things, nobody's willing to take money off the table at the same time," he said. All three major indexes are up between 13% and 15% so far this year. The rally has been led by the more defensive sectors of the market, including consumer staples and utilities. But investors are now starting to rotate into shares of companies that are more sensitive to the economic cycle, such as the industrial names, said Lazard's Hogan. The market is still "relatively well valued," he said, but it's too soon to say how the trend will play out. "It's less about risk tolerance than it is about how stretched the defensive trade has gotten," he noted.
Related: Fear & Greed Index gets greedy
Tesla stock is electric. Tesla ( TSLA) shares continued to rally after the electric car maker reported a quarterly profit for the first time earlier this week. The company also won plaudits from Consumer Reports, which dubbed the Tesla Model S the best car it has ever tested. Tesla, which is a big target of short sellers, is likely benefiting from a massive squeeze as investors who bet against the stock rush to buy it back before it goes even higher. A bidding war is brewing over Dell ( DELL, Fortune 500). Activist investor Carl Icahn and Southeastern Asset Management sent an alternative buyout offer to the PC maker. Icahn also disclosed a 4.52% stake in Dell. The move is a challenge to the offer Michael Dell announced in January. Priceline ( PCLN) shares rose even though the online travel booker issued a worse-than-expected forecast for second-quarter earnings. Results for the first quarter did top estimates. Gap ( GPS, Fortune 500) shares rose more than 5% after the apparel retailer issued strong quarterly guidance.
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Sensex up 66 points on funds buying - The Hindu
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Sensex up 66 points on funds buying

PTI
The BSE benchmark Sensex on Tuesday rose by over 66 points in early trade on selective buying by funds, amid an improving trend on other Asian bourses. The 30-hare barometer gained 66.27 points, or 0.33 per cent, to 19,757.94, with IT, PSUs, healthcare and oil and gas sector stocks leading the recovery. The index had lost over 430 points in Mondays session. Similarly, the wide-based National Stock Exchange index Nifty moved up by 15.35 points, or 0.26 per cent, to 5,995.80. Brokers said emergence of buying by funds in select stocks amid a better trend in the Asian region mainly influenced the trading sentiment. Meanwhile, in Asia, Japans Nikkei up by 0.09 per cent, while Hong Kongs Hang Seng index rose 0.03 per cent in early trade. The US Dow Jones Industrial Average ended 0.18 per cent lower in previous session. Keywords: Sensex opening trade
Printable v ersion | May 1 5, 2 01 3 5:07 :57 AM | http://www.thehindu.com /business/m arkets/sensex-up-6 6 -points-on-funds-buy ing/article4 7 1 3 888.ece The Hindu
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Dow, S&P Strike Fresh Highs in Broad Rally | Fox Business


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FOX Business: Capitalism Lives Here The Dow and S&P 500 roared to fresh all-time highs Tuesday in a broad rally that was led by the financial sector. Today's Markets
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The Dow Jones Industrial Average jumped 123 points, or 0.82%, to 15215, the S&P 500 rallied 16.7 points, or 1%, to 1650 and the Nasdaq Composite soared 23.8 points, or 0.69%, to 3463.
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"The economy continues to expand, albeit a very quiet rate, so stocks continue to be the risk of choice these days," Todd Schoenberger, managing partner at LandColt Capital wrote in an e-mail. Schoenberger said optimism that the Federal Reserve will continue buying assets at a rapid pace is also playing into the move into equities. "Realistically, (the drive into equities) will continue deep into summer unless a catastrophic economic event were to happen," he wrote. Fed Talk Still in Focus Wall Street has been fixated so far this week on mounting discussions of the Federal Reserve's exit from its vast quantitative easing program. Currently, the central bank is adding to its balance sheet at rate of $85 billion a month -- a move aimed at lowering long-term interest rates. However, critics worry about the inflationary pressure the highly-accommodative stance might cause. Philadelphia Fed President Charles Plosser, currently an alternate on the central bank's policy-setting board, once again pushed for the Fed to begin slowing down its quantitative easing program. In a speech in Sweden, he said the Fed could begin slowing down the pace of asset purchases by the June meeting, and then halt them altogether by the end of the year. Also on the economic front, the Commerce Department said U.S. import prices slid 0.5% in April from March, matching economists' expectations. Export prices dropped 0.7%, the largest decline since June, and steeper than forecasts of a 0.2% dip. In Europe, a closely-watched survey on German economic sentiment from the ZEW Institute came in well below expectations. The gauge came in at 36.4 in May, well shy of economists' forecasts of 40. The data point a picture of an economy that is still struggling with headwinds from the eurozone debt crisis. Elsewhere, in corporate news, Daniel Loeb's Third Point has urged Sony (SNE) to sell part of its entertainment division in an initial public offering. Citigroup (C) upped its price target on Wal-Mart (WMT), the blue-chip retailer, by $7 to $89 a share. Commodities markets were mixed. U.S. crude oil futures fell 96 cents, or 1%, to $94.21 a barrel. Wholesale New York Harbor gasoline rose 0.59% to $2.876 a gallon. In metals, gold dropped $9.80, or 0.68%, to $1,425 a troy ounce. Foreign Markets
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The Euro Stoxx 50 dipped 0.3% to 2769 the English FTSE 100 slipped 0.12% to 22930 and the German DAX fell 0.1% to 8271. In Asia, the Japanese Nikkei 225 slumped 0.16% to 14748 and Chinese Hang Seng dropped 0.26% to 22930. Follow Adam Samson on Twitter @adamsamson.
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Stocks: Bulls back in the driver's seat - May. 14, 2013
Stocks: Bulls back in the driver's seat

NEW YORK (CNNMoney)
A growing sense of optimism about the U.S. economy pushed stocks to record levels Tuesday, even as the market's fear gauge flashed red. The Dow Jones industrial average and the S&P 500 both closed at new record highs, while the Nasdaq gained 0.7%. There was no specific catalyst for the advance, but traders said bullish comments from a top hedge fund manager helped. David Tepper, founder of Appaloosa Management, told CNBC that investors should not be concerned about the Federal Reserve winding down its bond-buying program too soon. Investors who bet against stocks "better have a shovel to get themselves out of the grave," he said. The Fed has been a hot topic this week after the Wall Street Journal reported over the weekend that the central bank was considering an exit strategy. Stocks have gained between 16% and 17% so far this year, driven largely by the Fed's easy money policies. Investors have also been encouraged by continued signs of improvement in the U.S. economy, said Paul Zemsky, market strategist at ING Investment Management, pointing to a report Tuesday on small business confidence. "We keep getting bits of slightly better news that tells you the economy is OK," said Zemsky. "It's not going gangbusters, but it's not falling off a cliff." Click here for more on stocks, bonds, commodities and currencies Bank stocks were among the top performers. Bank of America ( BAC, Fortune 500) led the Dow, while Citigroup ( 500) and Goldman Sachs ( GS, Fortune 500) also gained. (Proxy firm to Goldman: Rein in executive pay) VIX moving in tandem with stocks? In an unusual move, the VIX ( C, Fortune
VIX) jumped as much as 4%, even as stocks pushed higher.
The VIX, widely known as Wall Street's fear gauge, pulled back later in the day, but traders said the move was notable since the VIX normally moves in opposite direction to stocks. The rise in the VIX could be a sign that investors aren't fully convinced the stock rally has legs, said Burt White, chief investment officer with LPL Financial.
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"When you reach such lofty levels -- and we're getting long in the tooth here -- you begin to have these disconnects in the markets," said White. "That's where you begin to see cracks in the rally." CNNMoney's Fear & Greed Index, which counts the VIX among its components, is deep in extreme greed. Ironically, that was the only one of the seven indicators not in extreme greed. It was sitting in neutral. Loeb takes on Sony: Hedge fund titan Dan Loeb wants to spin off Sony's movie and music division. With a 6% stake, Loeb's Third Point hedge fund is now Sony's largest shareholder. Shares of Sony ( SNE) have surged 84% this year amid a broad rally in Japanese stocks. Investors have been pouring money into Japan as Prime Minister Abe and the Bank of Japan have launched an aggressive campaign to revive the nation's economy. The effort has caused a sharp depreciation in the value of the yen, which has helped boost profits for large Japanese exporters, including Toyota ( TM) and Kirin ( KIRI).
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SolarCity stumbles: SolarCity ( SCTY)-- chaired by Tesla ( and offered weak guidance, sending shares plunging.
TSLA) head Elon Musk -- reported a wider-than-expected loss
SolarCity, which makes solar-power systems for homes and businesses, has still had a strong year, closing at $31.44 Tuesday after debuting on the Nasdaq in December at $8. Earnings wind down: Shares of Take-Two Interactive ( forecasts. TTWO) jumped after the maker of Grand Theft Auto easily beat profit M, Fortune 500), Wal-Mart ( WMT,
As earnings wind down, a few big names are still on deck this week, including Macy's ( Fortune 500), J.C. Penney ( JCP, Fortune 500) and Cisco ( CSCO, Fortune 500).
Of the 453 S&P 500 companies that have reported earnings results for the first quarter, 301 have beat analysts' estimates, 115 have missed, and 37 have met, according to S&P Capital IQ. BlackBerry ( BBRY)shares fell 4% after the company unveiled the Q5, a lower-cost, brightly colored smartphone aimed at emerging markets. European markets reversed earlier losses to end higher, while the main Asian markets ended the day in the red.
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Dow Logs Record Close for 20th Time in '13 | Fox Business

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FOX Business: Capitalism Lives Here The Dow and S&P 500 once again climbed to all-time highs on Wednesday as traders shrugged off weak data and continued bidding up stocks. Today's Markets
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8.4 points, or 0.51%, to 1659 and the Nasdaq Composite advanced 9 points, or 0.26%, to 3472.
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Utilities, financials and consumer staples were the best performers on the day. The energy sector was by far the worst performer on the day as commodities swooned. Oil futures initially came under pressure from weak data out of Europe, and then the selloff heated up on a somewhat bearish inventory report from the Energy Department. Oil inventories fell 624,000 barrels, compared to a forecast of a 300,000barrel build; however, oil stocks swelled by 2.6 million barrels, compared an expected 800,000-barrel draw.
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The benchmark U.S. crude contract dipped $1.79, or 1.9%, to $92.44 a barrel. Wholesale New York Harbor gasoline was off by 2% to $2.779 a gallon. In metals, gold sold off $29.80, or 2%, to $1,394 a troy ounce. Up, Up and Away? In what is becoming a trend on Wall Street, the Dow and S&P 500 lurched to fresh highs on Wednesday. It was the twentieth recordsetting day of the year for the blue-chip average and the fifteenth for the S&P. Meanwhile, the Nasdaq is trading at levels not seen since October 2000 -- during the precipitous drop following dot-com era highs. Tobias Levkovich, Citigroup's (C) top equities analyst, told clients that the markets may yet have some "oomph" left even as the closelytracked S&P breaks through key resistance points, like 1650 and potentially even 1675. However, Levkovich struck a cautious tone about the Street's trajectory in coming months. "We would expect some pullback during the summer as fears of a paring back by the Fed, European economic disappointment and a potential debt ceiling fight in the (U.S.) come together," he wrote. Manufacturing Data Disappoint The New York Federal Reserves regional manufacturing gauge came in at -1.43 in May, down from 3.05 in April, and considerably weaker than expectations of 4. Readings above 0 point to expansion, while those below indicate contraction. U.S. stock-index futures added to losses on the report. A separate report from the Federal Reserve showed U.S. industrial output sliding 0.5% in April, a wider fall than the 0.2% economists forecast. The Labor Department said producer prices slumped 0.7% in April from March in the biggest drop since February 2010 as energy prices slid. Economists expected a slightly smaller 0.6% dip. Excluding the food and energy components, prices were up 0.1%, matching forecasts. On the European front, the eurozone's economy shrunk by 0.2% in the first quarter, marking the longest recession in the currency bloc's history, and worse than the 0.1% economists forecast. The two biggest economies -- Germany and France -- continued struggling. Germany's economy grew at a tepid 0.1%, while France contracted by 0.2%.
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In corporate news, analysts at Citigroup (C) raised Gap (GPS) to "buy" from "neutral" and upped their price target by $8 to $48. Macy's (M) upped its dividend by 25% as the retailer reported profits and sales that climbed from the year prior. Follow Adam Samson on Twitter @adamsamson.
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Up, Up and Away: The Dow and S&P again climbed to all-time highs on Wednesday as traders shrugged off weak data and continued bidding up stocks.
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Sensex zooms 491 points hoping of a rate cut - The Hindu
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Sensex zooms 491 points hoping of a rate cut

PTI
The BSE benchmark Sensex on Wednesday rose by a massive 491 points to close at 20,213 points, a 27-month high, on buying mainly in banking and interest-sensitive stocks, after RBI said low inflation numbers will be taken into account in its next monetary policy on June 17. With a steepest single-day gain of 490.67 after June 29, last year, the Sensex settled at 20,212.96, its highest level last seen January 2011. Among major gainers were L&T, Mahindra and Mahindra, Maruti Suzuki, ONGC, Bajaj Auto, Cipla, Bharti Airtel and Dr. Reddys Lab. The broad-based National Stock Exchange index Nifty spurted by 151.35 points, or 2.52 per cent, to close at 6,146.75. The MCX-SX flagship index SX40 closed 245.6 points, or 2.10 per cent, higher at 11,925.14. Lower inflation numbers coupled with ample liquidity flow from FIIs are helping the stock market to rise higher, said Nagji K. Rita, Chairman and MD, Inventure Growth & Securities. RBI has said it would take into account falling inflation while deciding on policy initiative in its review next month. We certainly will take note of the softening of inflation and the external payments situation in the next mid-quarter policy statement on June 17, RBI Governor D. Subbarao said at an event in Frankfurt on Tuesday. The WPI-based inflation eased to 4.89 per cent in April. In 30-BSE index components, 29 stocks settled higher with Wipro closing unchanged. The realty sector index was the star performer by rising 4.04 per cent to 1,956.35, while capital goods index shot up by 3 per cent to 10,044.13.
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Sensex zooms 491 points hoping of a rate cut - The Hindu
The banking sector index also rose by 3.95 per cent to 14,962.99 as HDFC Ltd. shot up by 4.70 per cent to Rs. 980, SBI by 4.07 per cent to Rs. 2,384.50, ICICI Bank by 3.80 per cent to Rs. 1,191.65 and HDFC Bank by 3.72 per cent to Rs. 714.80. RIL and Infosys gained 2.65 per cent to Rs. 818.80 and by 0.37 per cent to Rs. 2,360.20, respectively. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade
Printable v ersion | May 1 5, 2 01 3 5:3 8:53 PM | http://www.thehindu.com /business/m arkets/sensex-zoom s-4 9 1 -points-hoping-of-a-rate-cut/article4 7 1 7 9 9 8.ece The Hindu
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Sensex up by 34 points, touches 28-month high - The Hindu
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Sensex up by 34 points, touches 28-month high

PTI
Rising for the third straight session, the BSE benchmark Sensex on Thursday rose by over 34 points to 20,247.33 to hit a fresh 28-month high on buying mainly in realty, healthcare, oil and gas and banking stocks, amid strong foreign capital inflows. The 30-share index advanced by 34.37 points, or 0.17 per cent, to 20,247.33, which was last seen in January 2011. The index had gained 521 points in last two trading sessions. Similarly, the broad-based National Stock Exchange index, Nifty rose by 23.15 points, or 0.38 per cent, to 6,169.90, led by stocks of banking and interest-linked stocks. Also, the MCX-SX flagship index SX40 rose by 29.35 points, or 0.25 per cent, to 11,954.49. Brokers said the market was bullish ever since reports of easing inflation have raised hopes that RBI will go for rate cuts to boost economic growth. They said foreign investors continued buying in domestic stocks on expectations of faster growth. Overseas investors pumped in Rs. 1,646.95 crore (around $301 million) into local equities on Thursday, as per BSE provisional data. In the 30-BSE index components, 14 stocks gained led by Hindalco, Cipla, RIL, Dr. Reddys, Sterlite Industries and SBI. The banking stocks gained 1.11 per cent, led by SBI, ICICI Bank and HDFC Bank. The interest-rate linked realty sector index gained the most by 1.81 per cent to 1,991.75 followed by oil and gas index by 1.64 per cent to 9,053.78. Among other major gainers on the BSE, shares of Adani Ports surged 6.34 per cent to Rs. 161.90, after the company
www.thehindu.com/business/markets/sensex-up-by-34-points-touches-28month-high/article4721126.ece?css=print 1/2
5/16/13
Sensex up by 34 points, touches 28-month high - The Hindu
posted 197 per cent increase in consolidated net profit for the fourth quarter ended March 2013. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade
Printable v ersion | May 1 6 , 2 01 3 1 1 :3 4 :52 PM | http://www.thehindu.com /business/m arkets/sensex-up-by -3 4 -points-touches-2 8m onth-high/article4 7 2 1 1 2 6 .ece The Hindu
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5/17/13
Bulls Charge Wall Street; Dow, S&P Hit Fresh Records | Fox Business

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FOX Business: Capitalism Lives Here The broad S&P 500 zoomed close to 2% higher in its fourth-straight weekly as Wall Street's 2013 rally continued unabated. Today's Markets The Dow Jones Industrial Average climbed 122 points, or 0.8%, to 15354, the S&P 500 advanced 15.7 points, or 0.95%, to 1666 and the Nasdaq Composite rose 33.7 points, or 0.97%, to 3499.

2 Unemployment rates drop in most states, Illinois climbs
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Meanwhile, the Nasdaq is trading at levels not seen since the tech bubble burst nearly 13 years ago. For the week, the Dow rallied 1.6%, the S&P 500 soared 2% and the Nasdaq leapt 1.8%. After a round of broadly discouraging news on the U.S. economy Thursday, traders were greeted with upbeat data on the consumer sector. The Reuters/University of Michigan gauge of consumer sentiment soared to 83.7 in early May from 76.4 in April, zooming by estimates of 78. It was the highest reading since July 2007.
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In corporate news, J.C. Penney (JCP) posted considerably weakerthan-expected first-quarter earnings on the top and bottom lines after the closing bell Thursday. Still, Deborah Weinswig, an analyst at Citigroup (C), said she was "encouraged" by chief executive Mike Ullman's strategic plan. The bank upped its price target by $5 to $20. Dell (DELL) revealed quarterly profits that were far shy of expectations, but sales that widely beat estimates. In commodities, oil and gasoline prices ticked up. The benchmark U.S. crude contract rose 29 cents, or 0.3%, to $95.45 a barrel. Wholesale New York Harbor gasoline jumped 0.77% to $2.905 a gallon. In metals, gold fell $8.40, or 0.61%, to $1,379 a troy ounce. Foreign Markets The Euro Stoxx 50 climbed 0.67% to 15138, the English FTSE 100 gained 0.31% to 6709 and the German DAX rose 0.08% to 8376. In Asia, the Japanese Nikkei 225 rallied 0.67% to 15138 and the Chinese Hang Seng advanced 0.17% to 23083. Follow Adam Samson on Twitter @adamsamson.
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Stocks at record highs in four-week run - May. 17, 2013
Stocks finish higher for fourth straight week

NEW YORK (CNNMoney)
The stock market continued its march higher for a fourth week as investors focused on signs of improvement in the U.S. economy. The Dow Jones industrial average, S&P 500 and Nasdaq all ended higher Friday, with the Dow and S&P 500 finishing at record levels. For the week, the S&P 500 added 2%, the Dow rose 1.5% and the Nasdaq advanced 1.7%. Friday's gains came after a measure of consumer sentiment rose to its highest level in nearly six years. Separately, a report on leading economic indicators bounced back in April. U.S. stocks took a step back Thursday amid a raft of mixed economic reports and as some Federal Reserve officials called for an end to monetary stimulus this year. "The market is very sensitive to comments about the Fed pulling back," said Quincy Krosby, market strategist with Prudential Financial. But Friday's economic reports "helped assuage fears that the economy and consumer were going deeper into a soft patch." All three indexes have gained around 16% so far this year on a combination of gradually improving economic data and continued support from the Fed. But the economic outlook may not be as rosy as some would hope, said Bruce McCain, chief investment strategist at Key Private Bank. "The euphoric reaction in the market is justified to a degree," he said. "But it may overestimate the growth we may see here and overseas." Meanwhile, gold prices dropped 1.6% to settle firmly below $1,370 an ounce. The precious metal has taken a beating during the past few weeks as investors rotate out of safe-haven assets.
Retailers on the ropes: J.C. Penney (
JCP, Fortune 500) shares slid after the ailing retailer reported another massive loss. AAPL,
The losses came during a quarter in which J.C. Penney announced the departure of CEO Ron Johnson, a former Apple (
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Stocks at record highs in four-week run - May. 17, 2013
Fortune 500) retail executive hired in 2011 to revive the floundering chain. Mike Ullman, the former CEO who took back the reins from Johnson, pledged to reemphasize the company's private brands and improve the performance of its online store. On the higher end of the retail spectrum, Nordstrom ( JWN , Fortune 500) shares sank after the company reported weakerthan-expected revenue growth and trimmed its sales outlook. Facebook: One year later: A year after Facebook's ( below its IPO price of $38 a share. FB) disastrous stock market debut, the social network's stock is still 30%
The company went public on May 18, 2012, in one of the most highly anticipated IPOs ever. But its stock performance has been abysmal and some investors are relieved to have missed out on the deal.
Related: Facebook: Winners and losers
IPO pop: Shares of Tableau Software (
DATA) surged 60% in their debut on the New York Stock Exchange.
The company raised more than $254 million through an initial public offering that priced above its estimated range. Tableau, which specializes in data visualization, also raised the amount of shares it offered to 8.2 million from 7.2 million. Separately, shares of Marketo ( $80 million through an IPO. MKTO) rallied 67% in their debut after the business-to-business software firm raised nearly
Tesla's stock offering: Tesla ( TSLA) raised $968 million in a secondary offering of common stock and convertible notes. The electric car maker's founder and chairman, Elon Musk, personally bought $100 million shares. Tesla's stock fell slightly but shares of another Musk-backed company, SolarCity ( SCTY), surged for the second straight day. The was up more than 25%. European markets erased earlier losses, while Asian markets ended higher.
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Dow Logs Record High in 19th-Straight Tuesday Advance | Fox Business


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FOX Business: Capitalism Lives Here The blue-chip average notched its nineteenth-straight Tuesday win as traders mulled a bullish note from Goldman Sachs and continued mulling what moves the Fed will take next. Today's Markets
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The Dow Jones Industrial Average climbed 52.3 points, or 0.34%, to 15388, the S&P 500 rose 2.9 points, or 0.17%, to 1669 and the Nasdaq Composite gained 5.7 points, or 0.16%, to 3502. The markets were fairly mixed on the day. The telecommunications sector was by far the worst performer, followed by materials and techology. Sectors that fared the best included consumer discretionary, utilities and industrials. Focus Remains on Fed The Fed's unprecedented asset-purchase program, dubbed QE3, is widely considered to be one of the drivers of the big rally on Wall Street this year. However, talk has shifted in recent weeks to when exactly the central bank will begin paring back the rate at which it buys bonds -- currently set at $85 billion a month.
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Wednesday," analysts at Barclays wrote to clients. Yusuf Heusen, a sales trader at IG, echoed those comments, saying "a couple of Fed speeches today will have investors eagerly parsing the comments for any hints as to potential changes in monetary policy." Goldman Gets More Bullish Meanwhile, Goldman Sachs (GS) boosted its price targets for the S&P 500, in a sign one of Wall Street's leading investment banks is growing more bullish. The bank expects the S&P to hit 1750 by yearend 2013, then rise to 1900 through 2014 and to 2100 in 2015. There are several big corporate events on tap for the day. Apple (AAPL) chief executive Tim Cook will testify before Congress regarding the company's holdings of billions of dollars in cash overseas in what some lawmakers see as a tax dodge. J.P. Morgan Chase (JPM) shareholders will vote on whether Jamie Dimon can hold the roles of chairman and chief executive. Dimon is one of the most powerful people in banking, and such a move would represent a major shift in the sector. Home Depot's (HD) quarterly profits and revenues beat expectations, and the home improvement store chain also raised its full-year outlook amid a recovering housing market. Best Buy (BBY) revealed a beat on the bottom line, but a miss on the top. In commodities, oil prices fell 55 cents, or 0.57%, to $96.16 a barrel. Wholesale New York Harbor gasoline sold off by 2.1% to $2.846. Gold dipped $6.50, or 0.47%, to $1,378 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.61% to 2807, the English FTSE 100 rose 0.14% to 6765 and the German DAX dipped 0.27% to 8433. In Asia, the Japanese Nikkei 225 tilted higher by 0.13% to 15281 and the Chinese Hang Seng slumped 0.54% to 23366. Follow Adam Samson on Twitter @adamsamson.
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Stocks end at record highs ahead of Bernanke - May. 21, 2013
Stocks end at record highs ahead of Bernanke

NEW YORK (CNNMoney)
Investors pushed stocks higher into record territory Tuesday after comments from a Federal Reserve official raised hopes the central bank will continue to pump money into the financial system. New York Federal Reserve president William Dudley said the Fed needs to rethink its current exit strategy, although he stressed that it could involve both increasing or decreasing the pace of its bond buying program. Investors have been paying close attention to comments from various Fed officials recently as they attempt to gauge when the central bank will begin to taper off its stimulus programs. Dudley said the uncertain outlook for the economy makes it difficult to say which direction the Fed will take. That ambiguity helped ease concerns that the central bank may be moving toward a more rapid exit strategy, according to Steven Ricchiuto, chief economist at Mizuho Securities USA. "Dudley may have made the chairman's job easier tomorrow," Ricchiuto said. "He clearly aligned himself with the no taper crowd." Fed chairman Ben Bernanke will discuss his outlook for the economy Wednesday before Congress. The Dow Jones industrial average and S&P 500 both closed at record highs Tuesday, gaining 0.3% and 0.2% for the day. The Nasdaq added 0.2% to end at its highest level since 2000.
Click here for more on stocks, bonds, commodities and currencies
Bernanke on deck: Stocks have rallied more than 16% so far this year, driven by improving economic data and the Fed's easy monetary policies. But investors have been unwilling to push stocks much higher this week, ahead of Bernanke's testimony, said JJ Kinahan, chief derivatives strategist at TD Ameritrade. The S&P 500 shot up from 1,600 to 1,670 "like a hot knife through butter," he said. "Now some people are wondering if we have to capitulate in order to stay higher."
1/3
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Stocks end at record highs ahead of Bernanke - May. 21, 2013
Bernanke's comments may provide the catalyst for stocks to move "one way or the other," said Kinahan. In the meantime, traders were keeping tabs on two widely-followed companies: JPMorgan and Apple. CEOs in the hot seat: JPMorgan ( JPM, Fortune 500) shareholders rejected a proposal to split the roles of chairman and CEO, both held by Jamie Dimon. The move is a major victory for Dimon, who has been under fire since JPMorgan lost $6 billion on derivatives in the so-called London Wale trade.
Related: Dimon wins by a landslide
Apple ( AAPL, Fortune 500) was also in focus as CEO Tim Cook and other executives appeared on Capitol Hill to testify about the company's tax practices. A report released Monday by Senators John McCain and Carl Levin criticized Apple for its use of obscure subsidiaries and accounting tactics to reduce its tax burden. Cook defended Apple's policies and urged lawmakers to overhaul the nation's tax code. Home Depot and Best Buy: Shares of Home Depot ( HD, Fortune 500) rose after the home improvement retailer reported quarterly increases in revenue, profit and same-store sales. The company cited an improving housing market and raised its sales guidance for the fiscal year. Home Depot also benefited from the reconstruction effort in areas hit by Hurricane Sandy. On the flip side shares of Best Buy ( BBY, Fortune 500) slid after the electronics retailer widely missed sales forecasts. Dick's Sporting Goods ( DKS, Fortune 500) stock reversed earlier losses after the retailer missed revenue forecasts and issued guidance in line with estimates. Cruising for a bruising. Shares of Carnival ( CCL) stumbled after the cruise ship operator slashed its earnings forecast, and said it was cutting prices in an effort to attract customers back onto its ships. The sour forecast shows how Carnival continues to suffer from a number of high-profile incidents, including last year's Costa Concordia disaster which led to the loss of 32 lives.
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Yahoo ( YHOO, Fortune 500) shares rose after the company announced a revamped version of photo-sharing service Flickr late Monday, just hours after confirming it was buying blogging site Tumblr.
Related: Fear & Greed Index dwells in extreme greed
European markets ended higher, with London's FTSE 100 trading at 14-year highs. Asian markets ended mixed.
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Sensex gains 161 pts on good buying | The Hindu
Business Markets
Sensex gains 161 pts on good buying

PTI
The BSE Sensex on Monday continued to gain on the back of short covering amid volatility with buying in frontline shares of oil & gas, health care, realty, consumer durable and TECk counters in late morning trade. The BSE 30-share barometer resumed higher at 19,750.67 points and hovered between 19,871.84 and 19,678.31 points before quoting 19,858.43 points at 10.30 am. It showed a gain of 154.10 points, or 0.78 per cent, from its last close. The NSE 50-share index, Nifty, also regained the 6,000-mark level quoting higher by 45.25 points, or 0.76 per cent, to 6,028.80 at 10.30 am. Meanwhile, foreign institutional investors (FIIs) bought shares worth a net Rs 238.56 crore last Friday, as per provisional data from the stock exchanges. Major gainers were RIL by 3.38 per cent, Bharti Airtel by 2.86 per cent, Sun Pharma by 2.70 per cent, HDFC Bank by 1.80 per cent and Dr Reddys lab by 1.64 per cent. Most Asian stocks were trading higher in the early trade. Key benchmark indices in China, Taiwan, Hong Kong, S Korea and Singapore rose 0.01 to 0.59 per cent. Stocks of Reliance Industries spurted after the company announced a huge natural gas discovery, possibly the biggest find ever, in the flagging eastern offshore KG-D6 block that will be key to arresting falling output. Coal India stocks also up by 1.13 per cent at Rs. 313.85 ahead of quarter earnings. Meanwhile, Japans Nikkei was fell over 3 per cent in early trade on Monday. Keywords: Sensex late morning trade,
Printable v ersion | May 2 7 , 2 01 3 8:3 8:2 5 PM | http://www.thehindu.com /business/m arkets/sensex-gains-1 6 1 -pts-on-good-buy ing/article4 7 553 6 5.ece The Hindu
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1/1
5/28/13
Sensex hits fresh one-week high; up by 130 points | The Hindu
Business Markets
Sensex hits fresh one-week high; up by 130 points

PTI
The BSE benchmark Sensex on Tuesday rose by 130 points to hit a fresh one-week high, extending gains for the third straight day on increased capital inflows into blue chips, led by Hero Moto Corp, RIL and Coal India. The 30-share index, which had gained 356 points in the last two trading sessions, advanced further by 130.05 points or 0.65 per cent to 20,160.82. This is Sensexs highest closing since May 20. The broad-based National Stock Exchange index Nifty regained a crucial 6,100 level by rising 28.10 points, or 0.46 per cent, to 6,111.25. Also, the MCX-SX flagship index SX40 closed higher by 51.64 points, or 0.43 per cent, at 11,947.27. Bullish mode Brokers said the market remained in bullish mode on foreign funds buying, following steady inflow of positive reports from blue chip companies. A firming Asian trend and higher opening in Europe as investors awaited reports that may show US consumer confidence and house prices increased, further boosted the trading sentiment. CIL rose by 3.01 per cent (pc) to Rs. 322.95 after posting higher fourth-quarter profit and coal price hike, while indexheavy Reliance Industries advanced by 1.80 pc to Rs. 843.115, added to Mondays 5.3 pc gain after it announced a significant gas discovery. Out of the 30 Sensex components, 19 stocks ended with gains led by Hero MotoCorp, BHEL and Coal India gaining 5.09 pc, 3.30 pc and 3.01 pc respectively. Auto stocks back in demand While auto stocks were back in demand ahead of the monthly sales report, Infosys held unchanged at Rs. 2,366.35. Among other stocks, shares of gold loan firms Muthoot Finance and Manappuram Finance were down after the
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5/28/13
Sensex hits fresh one-week high; up by 130 points | The Hindu
Reserve Bank imposed restrictions for providing loans against gold coins as well as units of gold ETFs. In sector-wise indices, the oil and gas sector index gained the most by rising 1.65 pc to 8,950.96, followed by auto index by 1.33 pc to 11,076.54. Keywords: Sensex, Sensex closing, National Stock Exchange index, Nifty
Printable v ersion | May 2 8, 2 01 3 7 :59 :4 9 PM | http://www.thehindu.com /business/m arkets/sensex-hits-fresh-oneweek-high-up-by -1 3 0-points/article4 7 59 580.ece The Hindu
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Strong Data Inspire Rally on Wall Street | Fox Business


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FOX Business: Capitalism Live Here The markets kicked off the holiday-shortened week in rally mode Tuesday, with cyclical stocks faring best, as traders cheered much better-than-expected data on the U.S. housing and consumer sectors. Today's Markets
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The Dow Jones Industrial Average rallied 106 points, or 0.69%, to 15409, the S&P 500 climbed 10.5 points, or 0.63%, to 1660 and the Nasdaq Composite jumped 30 points, or 0.86%, to 3489.
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Indeed, in a sign of the strength of the shift into risky assets, the yield on the 10-year Treasury bond jumped to 2.097% -- its highest level of 2013 as traders ditched the safety of U.S. debt. Every sector besides utilities and telecommunications were in the green, led by economically-sensitive issues like energy, financials, materials and consumer cyclicals.
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The S&P/Case-Shiller composite index of 20 metropolitan areas showed home prices rose 1.4% on a non-seasonally adjusted basis in March, compared with the 0.7% gain economists were expecting. Prices are up 10.9% from the same month a year ago. Home prices have started rebounding after collapsing when the bubble burst five years ago. Michael Gapen, an economist at Barclays, noted that every one of the 20 markets the index tracked were up for four consecutive months, in what he deemed "another strong signal that momentum in the U.S. housing market remains in place." Gapen said he expects the rebound in the housing market to add to gross domestic product in coming quarters. The Conference Board's gauge of U.S. consumer confidence rose to 76.2 in May from 69 in April, topping economists' estimates of 71 and marking the highest reading since February 2008. This comes on the back of a considerably stronger-than-expected preliminary reading on consumer sentiment from Reuters and the University of Michigan. Benchmark stock-market indexes in the UK, Germany and France all jumped more than 1% on the back of remarks from key European Central Bank officials suggesting the central bank would consider cutting interest rates further if the 17-member currency bloc's economy continues deteriorating. Bank of Japan chief Haruhiko Kuroda also made remarks suggesting the BoJ is likely to shrug off rising government bond rates and continue its super-aggressive monetary policy. Adding to the good-mood feeling, Moodys Investors Service upped its outlook on the U.S. banking system to "stable" from "negative." The ratings companys outlook had been "negative" since the financial crisis in 2008. In commodities, oil prices were solidly higher. The benchmark U.S. crude oil contract rallied 86 cents, or 0.91%, to $95.01 a barrel. Wholesale New York Harbor gasoline advanced 0.49% to $2.853 a gallon. Gold slipped $7.80, or 0.56%, to $1,380 a troy ounce. On the corporate front, Tiffany (TIF) blew away Wall Street expectations in the first quarter, sending its shares flying higher. Fidelity National Financial (FNF) revealed plans to buy Lender Processing Services (LPS) for $2.9 billion in stock and cash. Foreign Markets The Euro Stoxx 50 jumped 1.4% to 2834, the English FTSE 100 rallied 1.6% to 6762 and the German DAX zipped higher by 1.2% to 8483.
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In Asia, the Japanese Nikkei 225 gained 1.2% to 14312 and the Chinese Hang Seng climbed 1.1% to 22924. Follow Adam Samson on Twitter @adamsamson.
I'm Assum ing you Want a Low er Interest Rate, Right? Grow ing Fast-Food Chain Reflects on Early Menu Mistake Is $500K the Magic Retirem ent Confidence Num ber? A Gold Forecast that Will Shock the World 6 Worst Types of Real Estate Investm ents 10 Things You Didnt Know About Your Finances
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Super Tuesday: Dow closes at record high - May. 28, 2013
Super Tuesday: Dow closes at record high

By Maureen Farrell @CNNMoneyInvest May 28, 2013: 4:21 PM ET
NEW YORK (CNNMoney)
What financial crisis? U.S. stocks surged Tuesday as investors digested stellar economic data that appeared to put the housing and financial crises far in the rearview mirror. The Dow Jones Industrial Average closed at a record high of 15,409.39, after gaining more than 100 points, or 0.7%. (Tracking the Dow 30). The S&P 500 rose 0.7%, and the Nasdaq added 0.9%. At the same time, the yield on the 10-year Treasury note surged above 2.1% -- its highest level in more than a year.
Click for data on commodities, currencies and bonds
Housing is hot. Consumers are confident: S&P/Case-Shiller reported that housing prices rose a better-than-expected 10.2% during the first quarter. That was the biggest increase since 2007 and helped boost the entire sector. The SPDR S&P Homebuilders ( more than 2% at one point. Separately, the May reading on consumer confidence hit a five-year high and jumped more than expected. The Tuesday rally effect: Tuesday seems to be the day for buying in 2013 and today marks the 20th consecutive Tuesday that the Dow has inked gains. Central bankers keep their foot on the gas: Central bankers, including the Federal Reserve, have been fueling the 2013 rally by buying up government bonds to push down interest rates and entice investors to buy stocks. Central bankers in Japan and Europe signaled they were prepared to keep pumping money into their respective economies to keep rates low, even amid signs of recovery. Asian markets and European markets both closed higher, gaining more than 1%. XHB) ETF gained
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Super Tuesday: Dow closes at record high - May. 28, 2013
Related: Fear & Greed Index pushes back into extreme greed
Grab bag of corporate news: Tiffany (
TIF) reported better-than-expected earnings but lowered its revenue outlook.
Valeant Pharmaceuticals said Monday it was buying eye care specialist Bausch & Lomb from private equity firm Warburg Pincus. U.S. shares of Valeant ( VRX), Canada's largest drugmaker, rose nearly 9%. Shares of Netflix ( Day weekend. NFLX) slumped after the much-hyped new season of Arrested Development kicked off over the Memorial
Related: Elon Musk's fortune swells by $2.9 billion
Shares of the electric car maker Tesla (
TSLA), backed by billionaire Elon Musk, surged 13%, topping $100 for the first time.
Banana purveyor Dole ( DOLE, Fortune 500) sank 6%, after the company announced that it would suspend its plan to buy back $200 million of its own shares.
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Stocks Drift Higher as Weak Data Cool Tapering Fears | Fox Business

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Stocks Drift Higher as Weak Data Cool Tapering Fears


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FOX Business: Capitalism Lives Here The markets posted mild gains on Thursday, after making a big swing in the prior two sessions, after a round of disappointing data helped traders overcome worries over when the Fed will begin cutting back on its aggressive easing. Today's Markets According to preliminary calculations, the Dow Jones Industrial
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Average climbed 26.8 points, or 0.17%, to 15329, the S&P 500 gained 6.4 points, or 0.38%, to 1655 and the Nasdaq Composite
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advanced 24.4 points, or 0.69%, to 3491. It's been a manic week for Wall Street. Strong data ignited a rally Tuesday, but then fears that an accelerating recovery will cause the Federal Reserve to slow its easing program sparked an equally large selloff Wednesday. The Nikkei 225, Japan's benchmark stock-market index, plunged 5.2% overnight and entered a technical correction, meaning it has fallen 10% from a recent high. Markets there have been driven by central bank headlines as well, with the Bank of Japan initiating a massive easing program aimed at escaping the country's painful
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The focus is expected to stay on the economy, with three key reports due out. A second reading on U.S. gross domestic from the Commerce Department product showed the economy expanded at an annualized rate of 2.4% in the first quarter, down slightly from an initial estimate and Wall Streets forecast of 2.5% growth. The Labor Department said new claims for unemployment benefits rose to 354,000 last week from an upwardly revised 344,000 the week prior. Claims were expected to hold steady from an initiallyreported 340,000. U.S. pending home sales ticked up 0.3% in April from March to the highest level in three years, according to the National Association of Realtors. Sales were expected to climb 1.1%. The gauge was up 10.3% from the same month in 2012.The housing market has been cited as a bright spot in the overall economic recovery as the Fed has pushed down short and long-term interest rates. In commodities, oil and gasoline futures pointed higher. The benchmark U.S. crude oil contract climbed 62 cents, or 0.49%, to $93.74 a barrel. Wholesale New York Harbor gasoline rose 0.61% to $2.82 a gallon. In metals, gold rallied $19.40, or 1.4%, to $1,411 a troy ounce. On the corporate front, private-equity heavyweight KKR (KKR) said it hired former Central Intelligence Agency chief David Petraeus to run its newly created KKR Global Institute. Foreign Markets The Euro Stoxx 50 jumped 0.8% to 2809, the English FTSE 100 rose 0.38% to 6652 and the German DAX surged 1.2% to 8481. In Asia, the Japanese Nikkei 225 plunged 5.2% to 13589 and the Chinese Hang Seng slipped 0.31% to 22484. Follow Adam Samson on Twitter @adamsamson.
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Stocks Drift Higher as Weak Data Cool Tapering Fears

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Wall Street Posts Comeback Rally as Data Cool QE Fears | Fox Business

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Wall Street Posts Comeback Rally as Data Cool QE Fears

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FOX Business: Capitalism Lives Here The markets rebounded after dour performance late last week after a round of weak manufacturing data eased fears that the Federal Reserve will begin paring back its quantitative easing program very soon.
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Today's Markets The Dow Jones Industrial Average rallied 138 points, or 0.92%, to
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The markets ended what was a strong month on a weak note last week. The S&P 500 took its biggest drop in more than a month Friday, but still rose 2.1% for May in its seventh-straight monthly advance. On Monday, energy and consumer staple stocks fared the best by far. Intel (INTC) and Merck (MRK) gave the Dow a big boost, contributing 20 points combined.
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The Federal Reserve's plans to exit its massive bond-buying operation, dubbed QE3, has remained a major focus on Wall Street. The markets are expected to stay fixated on the central bank as several key reports are released on the U.S. economy, capped with the all-important monthly jobs report on Friday. "Everything investors do this week will be conducted in the shadow of [the May jobs report], as they try to pre-empt the next move from the worlds most powerful central bank," Chris Beauchamp, a market analyst at IG wrote in an e-mail. The Institute for Supply Management Manufacturing PMI gauge dipped to 49 in May from 50.7 in April, missing estimates that it would hold steady. It was the lowest reading since June 2009, and indicated the sector contracted for the first time since November 2012. "We can now say with even more confidence that there is literally zero chance the Fed announces any adjustments to its QE program in June and along with the decline in inflation measures, the risks are growing that our September call looks optimistic," Dan Greenhaus, chief global strategist at BTIG, wrote in an e-mail. Adding to that, Atlanta Fed chief Dennis Lockhart told FOX Business easing QE right now would be "premature." However, he did say that the central bank may begin trimming the bond purchases in coming months if the economy keeps up its momentum. PMI readings out of China painted a mixed picture for the world's No. 2 economy. The official data showed a shallow increase in the rate at which the manufacturing sector expanded in May, rising to 50.8 from 50.6. However, a separate survey from HSBC showed the sector contracting for the first time in seven months, falling to 49.2 in May from 50.4 in April. A report from Markit showing the eurozone manufacturing sector deteriorated at the slowest pace in 15 months helped balance out that report. The metric jumped to 48.3 from 46.7. Germany, France and Italy -- the bloc's three biggest economies -- all saw improvements as well. "Although the euro area manufacturing economy continued to contract in May, it is reassuring to see the rate of decline ease to such a marked extent," Chris Williamson, chief economist at Markit wrote in the report. "The sector still seems some way off stabilising, however, and therefore remains a drag on the economy." On the corporate front, the Big Three U.S. automakers reported monthly sales figures on the day. Ford (F) saw a 14% increase in sales for the month, while Chrysler's sales climbed 11%. Intel (INTC) shares rallied on the back of an upgrade by FBR.
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Apple (AAPL) will face the U.S. Justice Department in court amid allegation the tech titan conspired to fix e-book pricing. In commodities markets, oil and gasoline futures were in the green. The benchmark U.S. crude oil contract climbed $1.48, or 1.6%, to $93.45 a barrel. Wholesale New York Harbor gasoline rallied 1.1% to $2.785 a gallon. Gold advanced $18.90, or 1.4%, to $1,412 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.64% to 2787, the English FTSE 100 dipped 0.11% to 6576 and the German DAX climbed 0.51% to 8391. In Asia, the Japanese Nikkei 225 plunged 3.7% to 13262 and the Chinese Hang Seng tilted lower by 0.49% to 22282.

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Dow keeps winning streak alive - Jun. 3, 2013
Dow keeps winning streak alive

By Maureen Farrell @Maureenmfarrell June 3, 2013: 4:20 PM ET
NEW YORK (CNNMoney)
U.S. stocks kicked off June with a win. The Dow Jones Industrial Average, which has gained for six months in a row, kept its winning streak going Monday. The blue chip index was up all day but the buying really gained steam into the close, sending the Dow up 138 points, or 0.9%. The S&P 500 and Nasdaq added between 0.3% and 0.6%, after drifting between positive and negative territory for most of the day. Tomorrow, investors will see if Dow can extend its Super Tuesday streak and close higher for the 21st Tuesday in a row. It's been a stellar year for stocks so far. All three indexes are up between 14% and 16%. This year's bull run has been accompanied by a dose of volatility over the past few weeks, as investors worry about when the Federal Reserve might pull back on its bond buying program.
Click here for data on commodities, currencies and bond prices.
Underwhelming readings on manufacturing and construction spending didn't appear to rattle investors' confidence Monday. Manufacturing contracted for the first time since November, while construction spending didn't rise as much as economists had expected. Investors are waiting for the most important economic number this week from the government's monthly jobs report due out on Friday.
Related: Investors flee SAC Capital
Zynga gets zinged: Online gaming company Zynga ( ZNGA) is cutting 18% of its workforce and closing up shop in New York, Dallas, and Los Angeles. Shares of the Farmville creator sank more than 12% once the company reopened for trading. The stock was halted shortly after All Things D reported the layoffs. America's love affair with automobiles reignited: Ford ( F, Fortune 500), General Motors ( ( TM) all reported stronger-than-expected U.S. auto sales for May. GM, Fortune 500), and Toyota
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Dow keeps winning streak alive - Jun. 3, 2013
Separately, Ford announced that it was recalling 465,000 due to fuel leaks. Shares of Tesla ( TSLA), the electric car company founded by Elon Musk, floundered as Americans showed continuing allegiance to the traditional car makers. Merck leads rally in drug stocks: Shares of Merck ( a positive study for a skin cancer treatment. The news boosted shares of GlaxoSmithKline ( 500). Intel ( MRK, Fortune 500) rose sharply, after the pharmaceutical firm announced BMY, Fortune 500), and Pfizer ( PFE, Fortune
GSK ), Bristol-Myers Squibb (
INTC, Fortune 500) got a big boost from an analyst upgrade, making it and Merck the biggest Dow gainers Monday.
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Troubles in Turkey: Stocks in Turkey got hammered as protests against Prime Minister Recep Tayyip Erdogan spread across the country. But other European markets shrugged off the Turkish violence. All three major indexes closed down between 0.7% and 0.8%.
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Asian markets ended with losses, led by a 3.7% tumble for Tokyo's Nikkei. The index has lost nearly 12% since its peak in May. Japan has been on a wild ride since prime minister Shinzo Abe promised a bold plan of bond buying to spur that country's long sagging economy. So-called Abenomics had also weakened Japan's currency appreciably -- a trend that's started to reverse of late. The yen rose against the dollar Monday.
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Stocks wobble as focus turns to jobs - Jun. 6, 2013
Stocks stage big comeback

By Ben Rooney @CNNMoneyInvest June 6, 2013: 4:40 PM ET
NEW YORK (CNNMoney)
U.S. stocks ended a volatile session higher Thursday as investors brace for a key report on the job market. The Dow Jones industrial average rose 80 points, or 0.5%, after falling more than 100 points earlier. With that comeback, the Dow avoided what would have been its first three-day losing streak this year. The S&P 500 gained 0.8% and the Nasdaq rose 0.7% Stocks came under pressure in midday trading as the U.S. dollar weakened against other currencies. The dollar fell 3% versus the Japanese yen before regaining some ground. It fell more than 1.5% versus the euro and the U.K. pound. Traders said the weakness in the dollar was driven by speculation that Friday's report on the U.S. job market could fall short of expectations. But trading has been choppy overall recently as investors wrestle with concerns about the global economy and an uncertain outlook for Federal Reserve policy. U.S. stocks fell sharply Wednesday, with the Dow closing below 15,000 for the first time since May 6.
Click for data on commodities, currencies and bonds.
Volatility is back. CNNMoney's Fear & Greed index has moved within a few points of the level that signals "extreme fear" in the market. Over the past month, the CBOE market volatility index, or VIX ( losses for the year. VIX), has surged more than 40% and has nearly erased all of its
"We're going to continue to see volatility in the market," said Ben Schwartz, chief market strategist at Lightspeed Financial. "There's a lot of uncertainty." Schwartz noted that June is typically a bad month for stocks, adding that many investors are in the midst of repositioning their portfolios for the second half of the year. "We're looking to see what the Federal Reserve is going to do, and what the [economic] numbers are going to look like over the next week or two," he said.
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Stocks wobble as focus turns to jobs - Jun. 6, 2013
Jobs in focus. Analysts say Friday's report could be particularly important given the questions about how long the Fed will continue its bond-buying program. The government said Thursday that initial claims for unemployment benefits totaled 346,000 in the week ended June 1, down 11,000 from the previous week. Jim O'Sullivan, chief U.S. economist at High Frequency Economics, reduced his forecast for Friday's report to a gain of 150,000 jobs from 195,000 jobs. He pointed to disappointing reports this week on the services industry and hiring by employers in the private sector. The private sector continued to add jobs in May, according to this week's report from payroll processing firm ADP, but the pace was slower than economists had hoped.
Related: Apple, the ultimate defensive stock?
On the move: Shares of SodaStream ( SODA) rose on speculation that PepsiCo ( PEP, Fortune 500) may be trying to buy the soda maker. But the stock pared earlier gains after PepsiCo CEO Indra Nooyi told CNBC the rumors were untrue. Limited Brands ( LTD, Fortune 500), which owns Victoria's Secret and other apparel brands, said same store sales rose 3% in May. That was slightly below forecasts, putting pressure on the stock. J. M. Smucker Company ( price cuts made last year. SJM, Fortune 500) said earnings jumped 25% during its fiscal fourth quarter, but sales fell 1% on
Shares of LightInTheBox ( LITB) rallied in their U.S. stock market debut. The online retailer of "lifestyle products" based in China, raised $79 million through an initial public offering that priced in the middle of its estimated range.
Related: Fear & Greed Index slips into fear
European stocks ended lower, with markets in London, Paris and Frankfurt falling more than 1%. The European Central Bank and the Bank of England both left their main interest rates unchanged, as expected. European investors showed little reaction to monetary policy announcements, though the euro surged to a four-week high against the U.S. dollar. Asian markets ended the day in the red. Japan's Nikkei index fell by another 0.9%, after dropping nearly 4% in the previous session. The Tokyo index has fallen more than 17% since May 22, when it hit its highest level in five and a half years.
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After spending the session bouncing between gains and losses, the markets shot into the green in late action as traders braced for the big jobs report due out on Friday. Today's Markets
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According to preliminary calculations, the Dow Jones Industrial Average jumped 79.5 points, or 0.53%, to 15040, the S&P 500 climbed 13.6 points, or 0.84%, to 1622 and the Nasdaq Composite advanced 22.6 points, or 0.66%, to 3424.
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The markets took a pounding on Wednesday amid continued worries about when the Federal Reserve will begin cutting down on its bond purchases, currently set at $85 billion a month. The losses this week have knocked the Dow and S&P 500 down to levels not seen since early may, trimming down the big gains seen so far this year. Central banks remained in the spotlight on Thursday. The European Central Bank and Bank of England held their benchmark interest rates at 0.5% as analysts expected. The BoE also said it will keep the scope of its own quantitative easing program at 375 billion pounds. ECB President Mario Draghi is expected to hold a press conference later in the day -- an event that is often a market mover.
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Also on the economic front, the Labor Department said new claims for unemployment benefits fell to 346,000 last week from an upwardlyrevised 357,000 the week prior. Claims were expected to fall to 345,000 from an initially-reported 354,000. In corporate news, Calcalist, an Israel-based financial paper, reported that PepsiCo (PEP) was mulling a $2 billion acquisition of SodaStream (PEP), according to a report from Reuters. A SodaStream spokesperson said the company does not comment on "rumor and speculation." PepsiCo could not be immediately be reached for comment. In commodities, oil prices climbed 57 cents, or 0.61%, to $94.31 a barrel. Wholesale New York Harbor gasoline advanced 0.22% to $2.829 a gallon. Gold was up $5.30, or 0.39%, to $1,403 a troy ounce. Follow Adam Samson on Twitter @adamsamson.
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Stocks Rocket Higher, Jettison Weekly Losses as Traders Cheer Data | Fox Business

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FOX Business: Capitalism Lives Here The markets rocketed higher Friday, shedding weekly losses, after a key report relieved traders concerns about the Fed's bond-buying program and boosted confidence in the economy. Today's Markets
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The Dow Jones Industrial Average jumped 208 points, or 1.4%, to 15248, the S&P 500 rose 20.8 points, or 1.3%, to 1643 and the Nasdaq Composite gained 45.2 points, or 1.3%, to 3469. The Federal Reserve and the American economy have been two themes that have driven Wall Street this week. The Dow and broader S&P 500 have had tough weeks, but managed to cut losses and even post gains after Friday's rally. For the week, the Dow advanced 0.88%, the S&P climbed 0.78% and the Nasdaq gained 0.39%.
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The jobs report -- generally considered the key economic event of the month -- is taking on even more significance amid traders' near obsession with when the Fed will begin tapering its giant bond-buying operation, dubbed QE3. That's because the central bank has a dual mandate to keep the unemployment rate near its natural level, while keeping inflation in check. The Labor Department said nonfarm payrolls rose by 175,000 in May, beating Wall Streets expectations by 5,000. The unemployment rate ticked up to 7.6% for the month from 7.5% in April. The labor force participation rate came in at 63.4% from 63.3% in April. Goldman Sachs pinned the increase in the unemployment rate to people re-entering the labor force, generally seen as a positive development. "The caveat is that these numbers are subject to an error of plus or minus 100,000, but this initial reading is positive news for the U.S. economy, especially as 3,000 government jobs were cut during the month," said Chris Williamson, chief economist at Markit. Barclays said the report doesn't change its view on when the Fed will begin trimming QE3. "The May employment report contained both pluses and minuses and Federal Reserve policymakers can view this report several different ways," economists at the Britain-based investment bank wrote to clients. "In that regard, we do not see the number as providing clarity on the state of improvement in labor markets and the potential for a reduction in the pace of asset purchases." Elsewhere, markets in Japan, which have flown higher this year, waded into bear-market territory overnight before rebounding somewhat. Oil and gasoline futures were in the green. The benchmark U.S. crude oil contract rallied $1.27, or 1.3%, to $96.03 a barrel. Wholesale New York Harbor gasoline climbed 0.33% to $2.86 a gallon. In metals, gold fell $32.80, or 2.3, to $1,383 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.03% to 2675, the English FTSE 100 dipped 0.06% to 6332 and the German DAX slumped 0.29% to 8075. In Asia, the Japanese Nikkei 225 ticked down by 0.21% to 12878 and the Chinese Hang Seng sold off by 1.2% to 21575. Follow Adam Samson on Twitter @adamsamson.
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Jobs number 'perfect' for nervous investors - Jun. 7, 2013
Jobs number 'perfect' for nervous investors

By Hibah Yousuf @CNNMoneyInvest June 7, 2013: 4:11 PM ET
NEW YORK (CNNMoney)
A good, but not great, jobs number managed to spark healthy gains on Wall Street Friday. The government's monthly report showed the economy added 175,000 jobs in May, more than the 158,000 economists had expected. The unemployment rate edged up to 7.6% from 7.5% in April. The Dow Jones industrial average rallied more than 200 points, or 1.4%. The S&P 500 and Nasdaq rose 1.3%. Friday's gains helped push the major indexes into positive territory for the week, following two straight weeks in the red. The Dow and S&P 500 gained 0.9% and 0.8%, while the Nasdaq ticked up 0.4%. The Dow and S&P 500 are about 2% from the record highs they hit last month. European markets followed U.S. stocks and closed sharply higher. But stocks have been volatile recently, as investors grapple with concerns about when the Federal Reserve might start to cut back on its stimulus efforts.
Related: Click here for more on stocks, bonds, currencies and commodities
What the jobs number means for the Fed: The monthly jobs report is always a big focus, and of particular importance this time around as investors question how long the Fed will continue its bond-buying program in the face of an improving economy. Fed chief Ben Bernanke has said that the Fed will begin pulling back on its stimulus monetary policies when the job market shows sustainable improvement. "Today's report is perhaps the perfect number for nervous investors," said James Marple, senior economist at TD Economics. "It is strong enough to point to continued economic recovery, but not so strong as to bring forward expectations of Fed tapering." Brad Sorensen, director of market and sector research for Charles Schwab, echoed Marple's comments, saying the number fell in the "sweet spot" that takes the possibility of Fed tapering off the table for now.
Related: Fear & Greed Index, sliding into fear
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TIVO) plunged almost 20% after the company settled a patent infringement battle with
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Google's (
GOOG, Fortune 500) Motorola Mobility unit.
Wal-Mart ( WMT, Fortune 500)rose after the world's biggest retailer announced a $15 billion stock buyback program at its annual shareholder meeting. Shares of Amazon ( AMZN, Fortune 500) jumped after the online retailer began selling the Kindle in China.
Samsung ( SSNLF) shares tumbled in Korea as investors worried about slowing sales of the Galaxy S4 smartphone. Future sales could come under even more pressure if rival Apple ( AAPL, Fortune 500) announces a trade-in program as reported by Bloomberg. Japan briefly dips into bear market territory: Asian markets ended the day with losses. Japan's Nikkei index retreated again, at one stage entering bear market territory by extending losses since its May 23 peak to more than 20%. It recovered slightly later in the session to end 0.2% down for the day. The major indexes in Hong Kong and mainland China fell by just over 1%.
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U.S. stocks end more than 1% higher - Jun. 13, 2013
U.S. stocks end more than 1% higher

By Mauren Farrell @CNNMoneyInvest June 13, 2013: 4:52 PM ET
NEW YORK (CNNMoney)
Tremors in Asia couldn't shake U.S. investors Thursday. The Dow Jones Industrial Average, the S&P 500, and the Nasdaq closed with gains of 1.2% to 1.5%, bouncing back from modest losses earlier in the day. In a month that's been checkered with heightened volatility, trading was notably stable as investors shrugged off a sharp sell-off in Asian markets. (Fear & Greed Index moves away from extreme fear)
The easing of quantitative easing? When will the U.S. Federal Reserve cut back on its bond buying program? Will other central banks, including the Bank of Japan, cut investors off too? Those questions have been worrying investors more and more in recent weeks.
Related: The bull market Wall Street loves to hate
Cheap money from the Fed and other central banks has been fueling the 2013 rally in global markets. All three major U.S. indexes are up between 13% to 15% this year. Investors saw some bright spots in the U.S. economy Thursday. Retail sales came in above expectations, and weekly jobless claims dipped more than forecast. World markets wobble: Japan's Nikkei index fell into bear market territory, marked by a decline of at least a 20% from its most recent peak. Other major indexes in Asia also tumbled. Stocks in Europe rebounded from sharp losses to end mixed. Japan's prime minister Shinzo Abe had promised to increase its central bank's intervention to prop up Japan's stock market and weaken the yen, in an effort to help the economy by encouraging exports. So-called Abenomics seems to have lost its luster. As the Nikkei sold off, the yen hit its highest level since early April.
Related: Nikkei tumbles 6% on central bank fears
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Market strategist Komal Sri-Kumar said the gyrations in Japan's markets could "be an interesting precursor to what might happen in the U.S." if the Fed decides to end its $85 billion-a-month bond buying program, or even scale it back. But the Nikkei has also had a stratospheric rise on the back of Japan's aggressive stimulus moves, so a pullback might be considered healthy.
Related: School gives 16-year-olds $100,000 to invest
In corporate news, shares of Gannett ( GCI, Fortune 500) rallied after the newspaper publisher said it was buying Belo ( BLC) for $1.5 billion, a deal that will significantly increase the number of television stations it owns. Shares of Belo were also higher, reflecting the 28% premium that the purchase price represents. Shares of beauty products company Coty ( COTY) fell, after the company made its public debut on the New York Stock Exchange. Coty raised $1 billion through an IPO that priced shares at $17.50 apiece.
Safeway is a safe haven ... for now

Meanwhile, Safeway ( SWY, Fortune 500) shares rose, after the grocery chain announced the sale of its Canadian operations to Sobeys for $5.68 billion. Safeway said it will use the proceeds from the sale to pay down $2 billion in debt, buy back stock and support growth elsewhere. In the U.K, shares of part-nationalized Royal Bank of Scotland ( RBS) slumped, after CEO Stephen Hester said Wednesday he would step down at the end of the year to allow a successor to steer the bank through privatization. No successor has been named yet. Shares of Myriad Genetics ( MYGN) gave up earlier gains to end lower, after the U.S. Supreme Court ruled that human genes can't be patented but synthetic ones can.
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FOX Business: Capitalism Lives Here The markets zipped higher Thursday, putting an end to a three-day losing streak, as traders cheered data suggesting the U.S. economy is improving while inflation remains in check. Today's Markets
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According to preliminary calculations, the Dow Jones Industrial Average rose 181 points, or 1.2%, to 15176, the S&P 500 gained 23.9 points, or 1.5%, to 1636 and the Nasdaq Composite climbed 44.9 points, or 1.3%, to 3445.
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The markets have had a tough three days, with the S&P 500 shedding close to 2% on the back of ongoing concerns about the pace of bond buying by global central banks. That negative sentiment pervaded Asian markets on the day. The Japanese Nikkei 225 plunged 6.4% overnight, eating into big gains earlier in the year. However, the mood brightened markedly in U.S. afternoon action. Several key reports gave traders a fresh look at the American economy.
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The Commerce Department reported retail sales ticked up 0.6% in May from April, beating expectations of a 0.4% rise. Core sales, which excludes automobiles, gasoline and building materials increased 0.3% from 0.2% in April. The consumer sector is the largest portion of the economy, and the data often have an outsize market impact. The Labor Department said new claims for unemployment benefits fell by 12,000 to 334,000 last week. Claims were expected to fall to 345,000 from 346,000 the week prior. Jobs data have come into focus as traders try to determine when the labor market will be recovering swiftly enough for the Federal Reserve to begin tapering its bond buys. Another report from Commerce showed U.S. import prices fell 0.6% in May from April, while export prices dipped 0.5%, compared to expectations that both would hold steady for the month. Import prices were down 1.9% from the same month last year, while export prices were off 0.9%. There have been worries that the Fed's aggressive monetary policy could put upward pressure on prices, however, that broadly has not yet come to fruition. Commodities markets were lightly changed. The benchmark U.S. crude oil contract fell 51 cents, or 0.52%, to $95.38 a barrel. Wholesale New York Harbor gasoline rose 0.03% to $2.811 a gallon. In metals, gold dipped $6.90, or 0.5%, to $1,385 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.9% to 2642, the English FTSE 100 dropped 0.85% to 6246 and the German DAX sold off by 1.4% to 8028. In Asia, the Japanese Nikkei 225 plunged 6.4% to 12445 and the Chinese Hang Seng plummeted 2.2% to 20887.
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Sensex snaps 3-day losing streak | The Hindu
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Sensex snaps 3-day losing streak

PTI
Rising for the first time in four days, the BSE benchmark Sensex on Friday gained a massive 350.77 points to close above the 19,000 level on all-round buying by funds as lower headline inflation revived hopes of a rate cut by RBI next week, amid smart recovery in global markets. The 30-share index started the day strong at 19,022.68 and increased further to settle 350.77 points, or 1.86 per cent, higher at 19,177.93. Sensex had slipped below the 19,000-level to 18,827.16 yesterday, losing 613.91 points, or 3.16 per cent in last three sessions. Similarly, broad-based National Stock Exchange Nifty rose by 109.30 points, or 1.92 per cent, to close at 5,808.40. Also, MCX-SX flagship index, SX40, ended 207.09 points higher, or 1.85 per cent, at 11,386.45. Out of the 30 Sensex stocks, 26 ended higher led by Hindalco, Tata Motors and Maruti. The market heavy Reliance Industries surged by 3.15 per cent to Rs 814, and second most heavy Infosys by 0.88 per cent to Rs 2,400. The most heavy ITC shot up by 1.41 per cent to Rs 331.40. The three stocks carry nearly 25 per cent weightage on the Sensex. Sectorally, the consumer durable sector index gained the most, rising 3.52 per cent to 6,592.76 followed by auto sector by 3.01 per cent to 10,697.47. Realty index rose by 2.86 per cent to 1,602.17 and metal index by 2.50 per cent to 7,940.23. Keywords: Sensex, BSE, Nifty, NSE, closing trade
Printable v ersion | Jun 1 4 , 2 01 3 7 :2 5:57 PM | http://www.thehindu.com /business/m arkets/sensex-snaps-3 day -losing-streak/article4 81 4 3 1 4 .ece The Hindu
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Sensex rises 148 points; M&M leads gain | The Hindu
Business Markets
Sensex rises 148 points; M&M leads gain

PTI
The BSE benchmark Sensex on Monday rose 148 points on buying by funds mainly in auto, capital goods, teck and consumer durables stocks even as the RBI kept interest rates unchanged. The Sensex gained by 147.94 points, or 0.77 per cent, to 19,325.87. The index had gained 351 points in the previous session. Similarly, the National Stock Exchange index Nifty rose by 41.65 points, or 0.72 per cent, to 5,850.05 led by auto stocks. Brokers said an early monsoon raised hopes of better agri output and generate buying power in rural areas. They said the market also bolstered on speculation the RBI will resume lowering borrowing costs after holding interest rates on Monday. Automakers led the gains. Tractor maker Mahindra and Mahindra surged 4.43 per cent to Rs 989.40 after agreeing to buy stake in Spanish auto major CIE Automotive. The street was upbeat on the stock (M&M) after its auto component business made a deal with Spanish auto major CIE. The company is in the process of merging its component businesses into one entity, said Nagji K. Rita, Chairman & MD, Inventure Growth & Securities. In 30-BSE index components, 23 stocks gained led by Reliance Industries, Infosys, Bajaj Auto, Bharti Airtel, BHEL, Hero MotoCorp, Maruti Suzuki and Larsen and Toubro. The Auto sector index gained the most by 1.90 per cent to 10,901.11 followed by capital goods index by 1.15 per cent to 9,422.81. Teck index rose by 1.09 per cent to 3,583.31 and consumer durable index by 1.02 per cent to 6,659.68. Barring metal, all the sectoral indices closed with gains up to 1.90 per ent.
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6/17/13
Wall Street Rallies as Fed Worries Cool | Fox Business


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Wall Street Rallies as Fed Worries Cool

By Adam Samson

Pub lished June 17, 2013
FOXBusiness

The markets zoomed higher on Monday, helping reverse last week's slump, as traders grew less anxious about when the Federal Reserve will start paring back its bond purchases. Today's Markets
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As of 11:25 a.m. ET, the Dow Jones Industrial Average jumped 164 points, or 1.1%, to 15234, the S&P 500 rallied 16.8 points, or 1%, to 1644 and the Nasdaq Composite climbed 40.7 points, or 1.2%, to 3465. The S&P 500 shed 1% last week in volatile trading as market participants obsessed over the Federal Reserve's strategy to exit its vast bond-buying program. Expectations that the world's most powerful central bank could begin slowing asset purchases in coming months have roiled fixed income markets in a move that has ricocheted into equities. The Fed is expected to stay in the spotlight this week, with the central bank kicking off a two-day meeting concluding on Wednesday. "I expect next to no change in the FOMC statement," said Michael Block, chief strategist at Rhino Trading Partners. "In the press conference, (Fed Chairman Ben) Bernanke will play up how tapering purchases down the road is not the same as raising rates, which is so far down the road that investors should not worry about it."
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Block pinned the move higher on Monday to investors preparing for the meeting on Wednesday, along with a calming in fixed income and currency markets. The yield on the 10-year Treasury bond fell 0.02-percentage point to 2.115% as traders bid up the asset. Elsewhere, U.S. oil prices continued moving toward the $100 a barrel mark as tension heated up in Syria. The benchmark contract recently climbed 41 cents, or 0.42%, to $98.25 a barrel. Wholesale New York Harbor gasoline was flat at $2.897 a gallon. In metals, gold fell $4, or 0.29%, to $1,384 a troy once.
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The economic calendar is fairly light on the day. The NAHB/Wells Fargo Housing Market index surged to 52 from 44 in May, easily topping forecasts for 45. This is the first time the index has been above 50 since April 2006, suggesting more homebuilders view conditions as favorable than those who see them as poor for the first time since the housing crisis. The New York Fed's regional manufacturing gauge surged to 7.8 in June from -1.4 the month prior, easily exceeding expectations of 0. Reading above 0 point to expansion for the Empire State factory sector, while those below indicate contraction. Still, while the headline number was strong, economists noted many of the sub-indices were less rosy: "The unexpected improvement in the Empire State Index was not reflected in the details," Steven Ricchiuto, chief economist at Mizuho Securities USA, wrote to clients. "Details paint a much weaker picture than the headline." Foreign Markets The Euro Stoxx 50 jumped 1.5% to 2706, the English FTSE 100 advanced 0.75% to 6355 and the German DAX rallied 1.2% to 8228. In Asia, the Japanese Nikkei 225 surged 2.7% to 13033 and the Chinese Hang Seng zoomed 1.2% to 21226. Follow Adam Samson on Twitter @adamsamson.
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Wall Street Rallies as Fed Worries Cool

The markets zoomed higher on Monday, helping reverse last week's slump, as traders grew less anxious about when the Federal Reserve will start paring back its bond purchases.
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Stocks trim gains - Jun. 17, 2013
Stocks trim gains

Click the chart for more stock market data.u
NEW YORK (CNNMoney)
So much for a rally. U.S. stocks trimmed gains heading into the final hour of trading Monday, as investors wait for the Federal Reserve to provide more clarity about when it may start cutting back on its bond-buying program. Though it appears investors aren't worried about Fed chairman Ben Bernanke announcing any tapering this week, they are likely to remain on edge until they hear more details about the Fed's future plan. (Fed not expected to taper until December) After being up more than 1% earlier in the day, all three indexes were only slightly higher in late afternoon trading. The Dow Jones industrial average and S&P 500 were up just 0.5%, while the Nasdaq was up 0.6%. The Fed has dominated investor attention ever since Bernanke said last month that the central bank may start slowing its stimulus program in "the next few meetings." Those words sparked weeks of volatility, as investors attempted to discern what the Fed chief was trying to signal. The Fed's bond buying program, known as quantitative easing, has been widely credited as the major factor driving stocks higher over the last few years.
While worries about tapering are subsiding, investors will remain focused on this week's Fed policy meeting and Bernanke's accompanying news conference Wednesday, said Kit Juckes of Societe Generale. "The general expectation is that Ben Bernanke will calm fears of over-zealous tapering," Juckes said. "Still, the case for beginning the process of letting some air out of the monetary bubble is pretty clear and surely the Fed will be wary of backing down too easily." The Fed will also updated its economic projections for 2013 to 2015.
Related: Fear & Greed Index slides back into extreme fear
In economic news, the New York Fed's survey of manufacturers came in stronger than expected. The general business conditions index climbed to 7.8 in June, up sharply from -1.4 the previous month. A reading above zero indicates expansion in the manufacturing sector.
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The National Association of Home Builders' index hit 52 in June, marking the first time the key measure of home builders' confidence has been above 50 in seven years. A reading above 50 indicates that more builders say sales conditions are good rather than poor. In corporate news, Boeing ( BA, Fortune 500) shares rose to a new high after the company announced at the Paris Air Show that the aircraft leasing arm of General Electric ( GE, Fortune 500) has committed to buy 10 of its new 787 Dreamliners. Shares also got a boost after CEO James McNerney told CNBC he is "highly confident" that the battery problems with the 787 Dreamliner have been fixed.
Boeing's 787 nightmare is over

Netflix ( NFLX) shares led the gains in the S&P 500 and Nasdaq-100, after the company announced a deal with DreamWorks, which will create original shows based on characters DreamWorks Animation's properties like Shrek, Madagascar and Kung Fu Panda. Facebook ( FB) shares were higher in anticipation of a media event on Thursday, though details are slim on what exactly the social media giant will announce. Shares of Kandi Technologies ( KNDI) soared as the electric vehicle maker moved forward with building new charging stations -- the first step toward launching 5,000 to 10,000 electric vehicles in the next year or so.
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Stocks Roar Higher as All Eyes Turn to the Fed | Fox Business

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Stocks Roar Higher as All Eyes Turn to the Fed

By Adam Samson / Pub lished June 18, 2013 / FOXBusiness

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FOX Business: Capitalism Lives Here The markets zipped higher for the second day in a row Tuesday as traders grew optimistic ahead of the Fed's policy decision. Today's Markets The Dow Jones Industrial Average climbed 138 points, or 0.91%, to 15318, the S&P 500 gained 12.8 points, or 0.78%, to 1652 and the Nasdaq Composite jumped 30.1 points, or 0.87%, to 3482.
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The markets kicked off the week on a high note, rallying amid hopes the Federal Reserve won't trim down its bond-buying program too soon. The focus was expected to remain on the U.S. economy, with the central bank starting its two-day policy-setting meeting and two
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economic reports out. The Fed's meeting concludes with a decision on Wednesday, and a press conference from Chairman Ben Bernanke. Wall Street widely expects the central bank to say it plans on continuing to buy $85 billion in bonds a month. Although, any hint that the rate will be slowed down is likely to be closely scrutinized, traders said ahead of the decision.
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"Recent bouts of positive correlation between equities, bonds and commodities suggest that the Feds stimulus inflated prices of financial assets, and removal of the stimulus could create a tail event in which prices of most of assets could go down," a team of analysts at J.P. Morgan Chase wrote to clients on Monday. The Labor Department said inflation at the consumer level ticked up 0.1% in May, slightly less than the 0.2% increase economists expected. Excluding the food and energy components, prices were up 0.2%, matching forecasts. Meanwhile, the Commerce Department reported U.S. housing starts increased 6.8% in May from April to an annualized 914,000-unit rate. Housing permits decreased 3.1% for the month to an annualized rate of 974,000 units. Elsewhere, Deutsche Bank called an end to the "historic bull-run" in commodity prices, saying prices "are likely to be in subdued territory for years to come." Oil climbed 70 cents, or 0.72%, to $98.47 a barrel. Wholesale New York Harbor gasoline advanced 0.9% to $2.882 a gallon. In metals, gold dipped $15.60, or 1.1%, to $1,368 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.12% to 2699, the English FTSE 100 climbed 0.73% to 6377 and the German DAX dipped 0.1% to 8208. In Asia, the Japanese Nikkei 225 edged lower by 0.2% to 13007 and the Chinese Hang Seng was flat at 21226. Follow Adam Samson on Twitter @adamsamson.
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Stocks rally as Fed looms large - Jun. 18, 2013
Stocks rally as Fed looms large

NEW YORK (CNNMoney)
U.S. stocks rose for a third day Tuesday after reports on inflation and new home construction eased fears the Federal Reserve is about to slow the pace of its stimulus program. The Dow Jones industrial average gained 138 points, or 0.9%. That marks the sixth day in a row that the Dow moved up or down more than 100 points. The S&P 500 edged up 0.8%, while the Nasdaq added 0.9%. A report on consumer prices showed that inflation remains subdued, while a report on the housing market was mixed. The data underscored the lackluster outlook for the economy and raised hopes the flow of cheap money from the Fed will continue, said Bruce McCain, chief investment strategist at Key Private Bank. "Ultimately, prices have to rest on the fundamentals," he said. "But for now the bulls are becoming a bit more emboldened." The absence of inflation, he added, "gives the Fed plenty of room to keep the pedal to the floor." Gold prices fell more than 1%, extending the metal's recent slide, on tepid inflation data and a stronger dollar.
Click here for data on bonds, commodities and currencies.
The Fed is not expected to announce any major change in policy at the end of it's latest two-day meeting, which started Tuesday. But investors are hoping chairman Ben Bernanke will provide some clues about when the central bank could begin tapering the pace of its bond purchases. Bernanke is set to speak at a news conference Wednesday afternoon. "Some people think they're going to taper tomorrow," said Keith Springer, president of Springer Financial Advisors in Sacramento, Calif. "I think there's zero chance that happens." Springer said the Fed is more concerned about the threat of deflation, adding that central bankers could decide to boost the $85 billion per month bond-buying program if the economy takes a turn for the worse. "If they reaffirm that it's not going to happen tomorrow, and that they're going to wait until the fall, I think the market will rally to new highs," said Springer.
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Stocks rally as Fed looms large - Jun. 18, 2013
Related: Fear & Greed Index cowers in fear
Meanwhile, there was speculation about who will succeed Bernanke. In a PBS interview that aired late Monday, President Obama told Charlie Rose that Bernanke has "already stayed a lot longer than he wanted, or he was supposed to."
Related: Fed not expected to taper until December
Sony ( SNE) shares climbed 3% after Dan Loeb's Third Point hedge fund increased its stake and is upping the pressure on the company to agree a partial spin-off of its entertainment business. Nokia ( NOK) shares rose after a report in the Financial Times raised speculation about a potential merger with China's Huawei. Meanwhile, shares of BlackBerry ( BBRY) rose rose on rumors about a deal with Lenovo ( LNVGF)
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Shares of Hormel ( HRL, Fortune 500) fell after the processed meat company lowered its earnings outlook for the year.
European markets ended mixed, while Asian markets were little changed. The president of Cyprus has asked the European Union to renegotiate the terms of its $13 billion financial bailout, according to the Financial Times. Following a summit in Ireland, Obama and other leaders from the world's top 8 economic powers announced new measures to curb tax evasion and money laundering.
2/2
6/21/13
Sensex, rupee stage recovery - The Hindu
Business Markets
Sensex, rupee stage recovery

Sensex crashed over 526 points in yesterdays trade, its biggest single-day fall in nearly two years. Photo:AP
Equities inched up marginally on the hope that a fall in rupee value would be beneficial for information technology (IT) companies. The rupee closed higher than its historical low as coprorates brought in dollars. The Bombay Stock Exchange (BSE) 30-share sensitive index, Sensex, closed at 18774.24, a marginal gain of 54.95 points. The marginal increase in indices on Friday was due to the rise in stocks of IT companies, which are export-oriented, (1.43 per cent) followed by technology (1.11 per cent), automobiles (0.34 per cent), power (0.27 per cent) and oil and gas (0.17 per cent). Metal stocks lost the most with a drop of 1.45 per cent and realty 1.02 per cent. On the National Stock Exchange (NSE), the Nifty closed higher by 11.75 points at 5667.65. Foreign institutional investors (FIIs) were selling heavily in India and other emerging markets. The Indian markets have absorbed $15 billion this year. However, the recent sell-off could be partially attributed to a possible risk off trade. Investors are chasing the U.S. markets as economic indicators have shown a gradual improvement and point towards a sustained recovery. Finally, selling in India could also be ascribed to rising treasury yields and continued rupee depreciation, accelerated by selling in Indian debt markets, said Pankaj Pandey, Head Research, ICICIdirect. The rupee recovered some losses on Friday against the dollar. The Indian currency closed at 59.27/28 a dollar as compared to its previous close of 59.57/58. It fell to its historic low of 59.98 intra-day on Thursday. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade, rupee value, Indian rupee, forex market
Printable v ersion | Jun 2 2 , 2 01 3 2 :05:56 AM | http://www.thehindu.com /business/m arkets/sensex-rupee-stage-recov ery /article4 83 7 2 52 .ece The Hindu
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6/21/13
Don't panic! Selling now could hurt your retirement savings - Jun. 21, 2013
ASK THE EXPERT
Don't panic! Selling now could hurt your nest egg

By Melanie Hicken @melhicken June 21, 2013: 9:51 AM ET
Investing in the stock market is inherently volatile, but it's also the best way for retirement savers to build up nest eggs large enough to last decades.
NEW YORK (CNNMoney)
The stock market's meltdown may have taken a hit to your retirement savings, but fleeing the market now is one of the last things you should do. Thursday's sell-off, Wall Street's single worst day of the year, may have you thinking it's best to pull out of stocks and wait it out in safer investments like bonds, money market funds or even cash. But financial advisers say not so fast: Staying the course is a much smarter move. Yes, investing in the stock market is inherently volatile, but it's also the best way for retirement savers to build up nest eggs large enough to last decades. From the European debt crisis to changing Fed policy, there are always going to be events that send stocks plunging, but reacting to those headlines is the wrong long-term strategy, said Stuart Ritter, a financial planner and vice president at T. Rowe Price Investment Services.
Related: Ben Bernanke's power over your money
After all, retirement savings are built up over decades of investing and daily market fluctuations (even those as drastic as Thursday's plunge) will ultimately be overshadowed by long-term market gains. So even though the Dow Jones Industrial Average shed nearly 4% in the last two days, it still remains up nearly 13% year to date. The S&P 500 and Nasdaq are also up more than 10% from last year. "The action that may feel emotionally comforting is often the one that sabotages your financial goals in the long term," Ritter said. "We've had situations like this one before. The people who prospered through the 2008 downturn are the people who did not react to the daily gyrations of the market."
Related: Stop panicking, ignore the Fed!
Indeed, a recent study by Fidelity Investments found that 401(k) investors who continually invested over the last 10 years saw their average account balances grow by an average annual increase of nearly 17% from $46,000 in 2003 to more than $200,000 in the first quarter of this year. While helped by added contributions, the balances were also boosted by the stock market rebound, said John Sweeney, executive vice president of retirement and investing strategies for Fidelity. In addition, many retirement accounts are invested in a mix of assets based on your age, which means that the effects on your
money.cnn.com/2013/06/21/pf/expert/market-selling/index.html?iid=HP_LN
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Don't panic! Selling now could hurt your retirement savings - Jun. 21, 2013
portfolio may look different from the headlines. Either way, pulling out of the market now will hurt, rather than help, your retirement savings since you will be selling your investments at a low. "You've already experienced today's downturn. Getting out now doesn't change it," Ritter said. "If you lock in the losses, you're making it permanent. "
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Wall Street Takes a Breather After QE-Induced Rout | Fox Business


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Wall Street Takes a Breather After QEInduced Rout


FOX Business: Capitalism Lives Here The markets hovered in a tight range on Friday after a steep, two-day selloff as traders continued mulling what the Federal Reserve's exit strategy might look like. Today's Markets
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As of 3:15 p.m. ET, Dow Jones Industrial Average rose 91.5 points, or 0.62%, to 14849, S&P 500 gained 9.1 points, or 0.57%, to 1598 and Nasdaq Composite slumped 4.5 points, or 0.13%, to 3360.
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gyrated in recent weeks as traders have tried to make sense of signals from the Federal Reserve on when it will halt its vast assetbuying program. Chairman Ben Bernanke thoroughly spooked many market
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participants this Wednesday by saying the central bank is likely to begin trimming down its asset purchases later this year, and halt the program entirely next year. The statement sent the broad S&P 500 plummeting 3.9% over the two-day span -- pushing down year-to-date gains slightly south of 12%. The sometimes intense fluctuations have launched the CBOE's VIX -seen as Wall Street's fear gauge -- up to a fresh 2013 high above the 20 mark. "The recent spike in volatility associated with the stock sell off could lead to some hope of a rapid index turnaround that simply may not occur," Tobias Levkovich, Citigroup's chief equity strategist warned the bank's clients.
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"Factors such as tapering, international economic disappointments and challenges for a quicker anticipated equity market leadership shift into global cyclicals suggest that the environment may not be that conducive for a new rally effort quite yet." Still, many analysts remain hopeful that the Fed will be able to begin its exit from easy-money policies delicately enough that it won't send the markets into a tailspin. In fact Deutsche Bank issued a note to clients on Friday saying the move may cause some fluctuations across many types of assets, but is likely to remain "contained" overall. But the bank still cautioned that a "disorderly" exit remains its main downside risk in the coming year. Also on the central bank front, St. Louis Fed President James Bullard, who dissented against the Federal Open Market Committee's decision Wednesday, said the central bank "should have more strongly signaled its willingness to defend its inflation target" shouldn't have given Bernanke the authorization to provide an approximate timetable to end easing. Elsewhere, 10-year Treasury yields receded slightly to 2.418% after a selloff in the bond market ignited the biggest jump in rates for the asset since October 2011. Oil prices slipped 26 cents, or 0.27%, to $94.88 a barrel. Wholesale New York Harbor gasoline ticked up 0.6% to $2.804 a gallon. Gold, which nose dived 6.4% on Thursday, rose by $7.40, or 0.57%, to $1,293.60 a troy ounce. In corporate news, Oracle (ORCL) shares were under pressure after the software giant revealed profits that matched Wall Street's expectations, but tepid sales figures. The company also said it would move to remove its stock from Nasdaq OMX Group's (NDAQ) Nasdaq Stock Market and re-list it on NYSE Euronext's (NYX) New York Stock Exchange. There are no major economic releases on the calendar. Foreign Markets The Euro Stoxx 50 climbed 0.49% to 2599, the English FTSE 100 rallied 0.9% to 6215 and the German DAX ticked up 0.21% to 7945. In Asia, the Japanese Nikkei 225 surged 1.7% to 13230 and the Chinese Hang Seng dipped 0.59% to 20263. Follow Adam Samson on Twitter @adamsamson.
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Stocks rebound as U.S. economy firms - Jun. 25, 2013
Stocks rebound as U.S. economy firms

NEW YORK (CNNMoney)
Wall Street bounced back Tuesday as signs of strength in the U.S. economy overshadowed concerns about China's credit problems. The Dow Jones industrial average rose 101 points, or 0.7%. The S&P 500 gained 0.9% and the Nasdaq added 0.8%. After suffering heavy losses in the past few days, investors were encouraged by a string of upbeat economic reports. "The economic fundamentals continue to march forward at a moderate pace," said Doug Cote, chief market strategist at ING Investment Management. "That's all the market needs right now."
Housing is hot, consumers are confident. The S&P/Case-Shiller home price index rose 12.1% in April, compared with a year earlier, for the 20 top real estate markets across the nation. It was the biggest annual jump in prices in seven years and the 2.5% increase from March was the biggest one-month rise in the 12-year history of the index. In more good news for housing, homebuilder Lennar Corp. ( LEN ) reported sales and earnings that topped forecasts. CEO Stuart Miller said Lennar's results "point to a solid housing recovery." New orders rose 27% in the quarter. Lennar shares held gains, but were off earlier highs. New home sales also topped estimates, rising 2% in May to a seasonally adjusted rate of 476,000 units, the Commerce Department said. A report on durable goods also came in better than expected. Meanwhile, a measure of consumer confidence rose to its highest level since January 2008. Consumers have been encouraged by improvement in the job market, said the Conference Board. But the index does not reflect the recent market turmoil, which could put a damper on consumers' moods in July, according to Capital Economics. Investors still jittery. Stocks are rebounding from steep losses Monday that were driven by continued uncertainty about China's banking system and when the Federal Reserve will ease its stimulus.
Related: Stock sell-off is 'taper tantrum'
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That double whammy has caused volatility to spike. So far this month, the CBOE Market Volatility Index ( extreme fear. VIX) has risen 25%. And CNNMoney's Fear & Greed Index is deep in
"Volatility is very pronounced," Carter Worth, chief market technician at Oppenheimer, told CNNMoney in an interview. Earlier he sent around an amusing note that simply said "We have no new thoughts. Sell." "If this kind of volatility is taking place, there is a change in the wind. That doesn't mean we are going to see a bear market or a crash, but upside is limited and downside is unknown, but very real," he told CNNMoney.
Related: Bonds in the bargain bin
Comments attributed to a People's Bank of China official helped ease some jitters in China's stock markets Tuesday. The official reportedly said the bank will keep interest rates in check, and that seasonal forces that have driven them higher recently will fade. Following his comments, the Shanghai Composite, which was down as much as 5.6%, recovered to close just 0.2% lower. (Check other world markets) Mixed bag of earnings. Shares of Walgreen ( revenue forecasts. WAG, Fortune 500) sank nearly 6% after the drugstore chain missed earnings and
Walgreen plunges on unhealthy earnings

Barnes & Noble ( BKS, Fortune 500) shares plunged after the bookseller said it will stop making the Nook in-house and will partner with a third party to manufacture the eReading device. Sales in the Nook segment fell 34% in the quarter to $108 million. Carnival ( CCL) said earnings fell 55% to 9 cents per share in the second quarter. The beleaguered cruise ship operator warned in May that earnings would suffer this year due to price cuts following the Carnival Triumph mishap. But the drop in earnings was not as bad as some had feared, sending Carnival's stock higher. After the market closed, Smith & Wesson ( SWHC) reported record sales and profits for the fourth quarter. The gunmaker also boosted its outlook for the current quarter and year. CEO James Debney said increased production and "continued robust consumer demand for firearms," helped lift sales of the company's M&P line, which includes assault rifles.
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FOX Business: Capitalism Lives Here The markets rallied on Tuesday after a round of strong data and dovish commentary from central bankers left traders feeling more cheerful on the direction of the economy. Today's Markets
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The Dow Jones Industrial Average climbed 101 points, or 0.69%, to 14760, the S&P 500 gained 15 points, or 0.95%, to 1588 and the Nasdaq Composite rose 27.1 points, or 0.82%, to 3348.
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"It seems that the rush for the exits has come to a halt for now, but, like the proverbial parrot, this bout of risk aversion may not be dead, but just resting," said Rupert Osborne, a futures dealer at IG in London. "It is still a struggle to work out the real outlook for markets, since the dust kicked up by last weeks Fed meeting will take weeks to settle." Commentary suggesting central bankers won't be ending the easymoney policies too soon helped sooth investors' nerves on the day. In particular, The Wall Street Journal reported a People's Bank of China official as saying the country's central bank will guide interest rates in a "reasonable range." Several Fed members also suggested asset purchases won't be ending too soon. Several economic reports also helped lighten Wall Street's mood. The Commerce Department said orders for long-lasting goods jumped 3.6% in May from April, topping expectations of a 3% gain. Excluding the transportation segment, orders rose 0.7% compared to expectations it would hold steady. The S&P/Case-Shiller report showed home prices in 20 major U.S. metropolitan areas climbed 2.5% in April from March, on a nonseasonally adjusted basis, topping expectations of a 1.1% gain. Prices were up 12.1% from the year prior, beating forecasts of a 10.6% jump. The report is a lagging indicator but is seen as a critical gauge of activity in the U.S. housing sector. Another important housing report slated for release at 10:00 a.m. ET is expected to show sales of new, single-family homes having increased to an annual pace of 462,000 units in May from 454,000 the month before. A separate report from Commerce showed sales of new, singlefamily homes rose 2.1% in May from April to an annual rate of 476,000 units. Wall Street expected sales to come in at an annual rate of 462,000 units. The reading was the highest since July 2008. Meanwhile, the Conference Board's gauge of consumer confidence rose to 81.4 in June from 74.3 in May beating estimates of 75.4. On the corporate front, Walgreen (WAG) revealed quarterly profits and sales that missed Wall Street's expectations. Lennar (LEN), the homebuilder, posted results that topped analysts' forecasts.
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Meanwhile, Google (GOOG) was dealt a victory, with an adviser to the European Union's top court saying the search giant doesn't need to remove sensitive results from its search engine. Commodities were broadly higher. Gold climbed $8.10, or 0.63%, to $1,285 a troy ounce. Oil was up 46 cents, or 0.49%, to $95.65 a barrel. Wholesale New York Harbor gasoline climbed 0.49% to $2.751 a gallon. In Treasury markets, the benchmark 10-year yield fell 0.034 percentage point to 2.505%. Foreign Markets The Euro Stoxx 50 rallied 1.4% to 2545, the English FTSE 100 jumped 0.93% to 6085 and the German DAX soared 1.6% to 6085. In Asia, the Japanese Nikkei 225 slumped 0.72% to 12969 and the Chinese Hang Seng edged up 0.21% to 19856.

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Wall Street Rallies for Second-Straight Day | Fox Business


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FOX Business: Capitalism Lives Here The markets zoomed higher for the second day in a row as traders grew more confident that the Fed will continue its bond-buying program for some time to come. Today's Markets
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The Dow Jones Industrial Average jumped 150 points, or 1%, to 14910, the S&P 500 gained 15.2 points, or 0.96%, to 1603 and the Nasdaq Composite climbed 28.3 points, or 0.85%. to 3376.
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After a brutal week, and a tough session on Monday, the markets posted big gains Tuesday and Wednesday. "While momentum could see the sell-off intensify in the near term, the pull-back should provide attractive entry points for risk assets," David Folkerts-Landau, chief economist at Deutsche Bank wrote to clients. "We continue to see long-term upside for equities as the global recovery gains momentum and expect the S&P 500 could be 25% higher by end-2015."
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On the economic front, the Commerce Department said the U.S. economy grew at an annualized rate of 1.8% in the first quarter, down from a previous estimate of 2.4%. Economists expected the economy to expand at a rate of 2.4% in the first three months of the year. Market participants also paid close attention to public comments from Richmond Federal Reserve President Jeffrey Lacker. Lacker said the central bank is not "anywhere near" paring back its vast bond-buying program, according to news reports. Elsewhere, gold prices tumbled to their lowest level since August 2010. The benchmark contract skidded lower by $45.30, or 3.6%, o $1,230 a troy ounce. "Despite the recent calm in sentiment, price action in gold ... provides a tangible signal that Fed tapering concerns persist," analysts at Nomura wrote to clients. Oil rose 18 cents, or 0.19%, to $95.50 a barrel. Wholesale New York Habor gasoline dipped 0.25% to $2.731 a gallon. In corporate news, General Mills (GIS) posted quarterly profits that matched expectations, but a full-year outlook that missed the Street's expectations. Foreign Markets The Euro Stoxx 50 rallied 2.2% to 2600, the English FTSE 100 jumped 1% to 6165 and the German DAX climbed 1.7% to 7942. In Asia, the Japanese Nikkei 225 sold off by 1% to 12834, and the Chinese Hang Seng soared 2.4% to 20339.
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Stocks rally after weak GDP - Jun. 26, 2013
Stocks rally after weak GDP

NEW YORK (CNNMoney)
Bad news is good news? U.S. stocks rose sharply Wednesday as investors bet the weak GDP reading would keep the Fed's stimulus going. The Dow Jones industrial average jumped 150 points, or 1%. The Nasdaq gained 0.9%, while the S&P 500 jumped 1%. Markets have been volatile lately, driven largely by fears that the Federal Reserve could begin to ease its stimulus measures by the end of the year. (Investors yank record $62 billion from bonds) But those fears took a backseat following the Commerce Department's worse-than-expected report on first-quarter gross domestic product, which showed the economy grew just 1.8% during the first quarter. The prior estimate showed an annual increase of 2.4%, and economists were expecting that figure to hold.
"There is a clear disconnect from what the Fed is reviewing and Main Street is living," said Todd Schoenberger, managing partner at LandColt Capital, in a client note. "The pathetic part of it all is Wall Street will see this as good news as stocks will most likely rally on hopes of an extended period for more bond buying."
Related: The Fed may kill bank stocks
Gold slumps: Gold prices fell more than 4% to to a 34-month low of $1,223.20 an ounce, before trimming some of those losses. Gold has been dragged down by the market rout that accompanied Fed chairman Ben Bernanke's comments last week about potentially pulling back on bond buying later this year. Gold mining companies Randgold Resources ( ( GLD) ETF fell 4%. GOLD) and Barrick Gold ( ABX)fell 5% and 8%. The SPDR Gold Shares Trust
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SWHC) declined even after the gunmaker reported record sales and vowed to
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6/27/13
Sensex hits 1 week high, up 324 points - The Hindu
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Sensex hits 1 week high, up 324 points

PTI
The BSE Sensex closed at a nearly one-week high as funds resumed buying.
PTI
The BSE benchmark Sensex on Thursday rose by a massive 323.83 points to close at nearly one-week high led by gains in energy sector bluechips ONGC and RIL stocks, as funds resumed buying after Rupee recovered sharply on lowerthan-expected current account deficit numbers. The 30-share index commenced the days trade on a firm note at 18,753,48 and rose further by 323.83 points, or 1.75 per cent to close at 18,875.95. This is its highest closing level since 18,774.24 on June 21, 2013. Similarly, the wide-based National Stock Exchange index Nifty gained 93.65 points, or 1.68 per cent, to close at 5,682.35. The SX40 index, the flagship index of MCX-SX, closed 170.48 points, or 1.54 per cent higher at 11,219.19. Brokers said the current-account deficit (CAD), which is the difference between the outflow and inflow of foreign currency, moderated sharply to 3.6 per cent of GDP in the last quarter of 2012-13 fiscal, bolstered the trading sentiment. This also led to the Rupee bouncing back from its record lows of 60.72 against the dollar to 60.24 intra-day. Buying activity further gathered momentum as investors indulged in covering up their pending short positions on current month settlement in the derivatives segment, and a firming global trend, they added. A firming trend in the Asian region and higher opening in Europe as slower-than-estimated U.S. economic growth stoked speculation the Federal Reserve may hold back from reducing stimulus, further supported the uptrend. Out of the 30 BSE index components, 20 stocks closed with gains led by ONGC gaining 4.14 per cent to Rs. 320.55. Reliance Industries surged by 3.48 per cent to Rs. 830.45 and Infosys by 3.31 per cent to Rs. 2,476.95. These two carry the most weight in Sensex. Sectorally, the oil and gas sector index gained the most by 3.22 per cent to 8,610.65, followed by IT index rising 3.15 per cent to 6,208.70.
www.thehindu.com/business/sensex-hits-1-week-high-up-324-points/article4856762.ece?homepage=true&css=print 1/2
6/27/13
Stocks rally on dovish Fed speak - Jun. 27, 2013
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The bulls are back on Wall Street

NEW YORK (CNNMoney)
U.S. stocks rallied for a third day Thursday, as investors shook off concerns about waning central bank stimulus. It was another triple-digit gain for the Dow Jones industrial average, which rose 114 points, or 0.8%. That brings the Dow's three-day point total to 364. The S&P 500 gained 0.6% and the Nasdaq rose 0.8%. (Click here for more market data) Investors cheered comments from New York Federal Reserve Bank president William Dudley, who downplayed concerns that the central bank was moving quickly to rein in its stimulus measures. Dudley stressed that any change in the Fed's bond buying program would depend on how the economy performs, adding that it could step up the pace if necessary.
Related: Tapering this year is no sure thing
Fed governor Jerome Powell, who is a voting member of the policy committee, echoed those remarks. The potential for more conservative central bank policies has caused wild swings in global markets for stocks, bonds, commodities and currencies. But the recent sell-off was an "overreaction" and investors should take the opportunity to buy stocks at a discount, said Scott Wren, senior equity strategist at Wells Fargo Advisors. "While the correction has not been large, only about 7% from the mid-May record high, it still warrants putting money to work," he said. U.S. Treasury yields edged lower Thursday, but remain at elevated levels. Investors have been selling bonds, and sending yields higher, in anticipation of an eventual decrease in the Fed's buying.
Related: Pimco's Gross: Treasuries aren't the Titanic
Mortgage rates, which are linked to the yield on 10-year Treasuries, have shot higher. Freddie Mac said 30-year mortgage rates
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surged to 4.46% this week, the biggest weekly jump in 26 years. Gold sell-off: Gold prices have been under pressure this month as investors worry about the Fed's tapering plans. Prices are down 13% this month and briefly dipped below $1,200 for the first time since mid-August 2010.
Gold bugs getting whacked

The precious metal has fallen out of favor with investors as inflation expectations have come down significantly. Traders said tight credit in China and weak jewelery demand in India are also weighing on gold prices. Economy still growing: The latest data suggest the U.S. economy is on track for modest growth. The Labor Department said Initial claims for unemployment benefits fell 9,000 to 346,000 in the week ended June 22. Separately, Americans' personal income rose 0.5% in May, while spending increased 0.3%, according to the Commerce Department. What's moving: ConAgra Foods ( CAG, Fortune 500) shares rose after the company said it swung to a profit in is fiscal fourth quarter. KB Home ( KBH) said losses narrowed in the second quarter. Paycheck Inc. ( PAYX), a provider of back office services, said profits were flat in the company's fourth quarter.
Shares of DirectTV ( DTV, Fortune 500) fell after the company disclosed a pre-tax charge of $25 million due to misreporting of subscribers in its Latin American business. Shares of Clearwire ( CLWR) fell after the Dish Network ( DISH, Fortune 500) pulled its bid, just days after Clearwire recommended its shareholders back an offer from Sprint ( S, Fortune 500).
Related: Fear & Greed Index dwelling in fear
European markets made solid gains. Asian markets ended mixed. Australia's ASX All Ordinaries index shot up by nearly 2% Thursday as Kevin Rudd returned as prime minister, three years after being replaced in the office by his then-deputy Julia Gillard. Investors are hoping this changing of the guards will result in more tax concessions for miners, said Mike van Dulken, head of research at Accendo Markets.
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Bull Charge: Wall Street Adds Third Day to Winning Streak | Fox Business

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FOX Business: Capitalism Lives Here The charge of the bulls continued for a third day Thursday after a round of strong economic data and dovish Fed commentary bolstered traders' confidence. Today's Markets
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The Dow Jones Industrial Average climbed 114 points, or 0.77%, to 15024, the S&P 500 gained 9.9 points, or 0.62%, to 1613 and the Nasdaq Composite advanced 25.6 points, or 0.76%, to 3402.
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The Dow has tacked on some 364 points in the last three trading days
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as jitters have faded, at least to some extent, about the Federal Reserve's exit strategy from its massive bond-buying program. It's been the longest winning streak for the blue-chip average in two months. That has helped the blue-chip average firm up its year-to-date gains to north of 13%.
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The focus was expected to remain on the American economy on the day, with several important economic reports slated for release.
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The Labor Department reported weekly jobless claims fell to 346,000 from an upwardly revised 355,00 the week prior. Claims were expected to fall to 345,000 from an initially reported 354,000.
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The Commerce Department said consumer spending rose 0.3% in May from April, matching economists estimates. Personal income climbed 0.5%, more than the 0.2% Wall Street expected. Meanwhile, the National Association of Realtors said signed contracts to buy previously owned homes jumped 6.7% in May, far higher than the 1% increase expected. The increase brought pending home sales to the highest since December of 2006. The gauge was up 12.1% from the same month in the year prior. On the corporate front, ConAgra Foods (CAG) posted fiscal fourthquarter profits that narrowly beat analysts' estimates, but sales that were slightly shy. Dish Network (DISH) left the bidding war over Clearwire (CLWR). Commodity markets were calm. The benchmark U.S. oil contract advanced 31 cents, or 0.3%, to $95.79 a barrel. Wholesale New York Harbor gasoline was flat at $2.73 a gallon. Gold gained $2.70, or 0.24%, to $1,233 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.26% to 2596, the English FTSE 100 rose 0.17% to 6176 and the German DAX dipped 0.05% to 7937. In Asia, the Japanese Nikkei 225 surged 3% to 13214 and the Chinese Hang Seng edged up 0.5% to 20440. Follow Adam Samson on Twitter @adamsamson.
The Return of the 10% Dow n Paym ent Mortgage Rates Soar; Has Refi Window Shut? U.S. First-Quarter Grow th Drops to 1.8% Report: Microsoft to Outline Restructuring by July 1 Wall Street Poised to Join Global Selloff Treasurys Inch Low er On Jobless Claim s
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Business Markets

The BSE benchmark Sensex on Friday regained the 19,000 level by spurting 293 points in early trade. File photo
Stocks rally on upward pricing of natural gas and global cues
PTI
Stock indices surged on Friday by more than 2 per cent following global cues and upward pricing of natural gas by the government from April 1, 2014. The rally in equities was also accelerated by a stronger rupee, which settled back above the 60-mark against the dollar. The Bombay Stock Exchange (BSE) 30-share sensitive index, Sensex, zoomed 519.86 points or 2.75 per cent to 19395.81. The rally was led by metal stocks which gained 4.70 per cent followed by power 4.15 per cent, capital goods 4.03 per cent, PSUs 3.52 per cent, oil and gas 3.37 per cent, banks 3.18 per cent, automobile 3.11 per cent and realty 3.04 per cent. All sectoral indices ended in the positive territory. Among the broad-based indices, BSE 100 surged by 2.52 per cent, BSE 200 by 2.51 per cent and BSE 500 by 2.45 per cent. The BSE mid-cap and small-cap stocks too gained by 2.26 per cent and 1.37 per cent, respectively. On the National Stock Exchange (NSE), a broader 50-share Nifty closed at 5842.20 with a gain of 159.85 points or 2.81 per cent. The markets opened with a positive note tracking global cues. The declining Current Account Deficit (CAD) and the government approval of C. Rangarajan Committee report on gas price hike also helped the heavy weight stocks such as , Reliance Industries and ONGC to outperform, which helped the Nifty to breach the 5800 level, said Alex Mathews, Head Research, Geojit BNP Paribas Financial Services Ltd. There were short positions which were rolled over from June to July also got triggered today [Friday], especially Nifty futures, which saw heavy short covering above 5800, Mr. Mathews added. Other than oil and oil exploration stocks, Mr. Mathews said that tea stocks jumped on tea price hike and the fertiliser stocks rose after the governments proposal to increase the subsidy. The European markets were seen paring their profits despite strong Japanese industrial production data. The U.S. index futures were trading higher. Rupee gains 80 paise The rupee gained in the foreign exchange market on Friday following governments move to raise gas prices for the
www.thehindu.com/business/markets/sensex-vaults-520-points/article4859578.ece?css=print 1/2
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first time in three years, boosting sentiment. The rupee closed higher as it regained 1.4 per cent at 59.38/39 a dollar compared with its previous close of 60.18/19 on Thursday. It rose to an intra-day high of 59.20. Further reforms that are in the pipeline include a review of FDI (foreign direct investment) limits across sectors, with a possible increase in the limits on telecom, and possibly, defence sectors. Legislative reforms such as the land acquisition bill may be taken up during the monsoon session of Parliament. While none of these reforms will lead to a quick turnaround in the economy and external risks remain, the government is moving in the right direction, said Sonal Varma Economist, Nomura Financial Advisory and Securities (India) Private Ltd. Gas and power price hikes will increase the cost for consumers , while easing the burden for producers and encouraging increased supply (positive for investment), a rebalancing that is long overdue in India. As we had anticipated, the weak currency is acting as a blessing in disguise, as it will prevent the government from engaging in pre-election populism and encourage it to continue with supply-side reforms, said Mr. Varma. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, opening trade
Printable v ersion | Jun 2 9 , 2 01 3 6 :3 5:4 8 PM | http://www.thehindu.com /business/m arkets/sensex-v aults-52 0-points/article4 859 57 8.ece The Hindu
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Sensex zooms to 1-month high, up 182 pts - The Hindu
Business Markets
Sensex zooms to 1-month high, up 182 pts

PTI
Extending its rally for the third straight session, the BSE benchmark Sensex on Monday rose by 181.58 points to close at nearly one month high, led by gains in blue chips, including RIL, L&T and Maruti, amid higher foreign fund inflows. The 30-share index commenced on a firm note at 19,456 and rose further by 181.58 points, or 0.94 per cent, to 19,577.39. This is Sensexs highest close since 19,610.48 on June 3. Similarly, the wide based National Stock Index, Nifty, closed 56.65 points, or 0.97 per cent higher at 5,898.85. Also, SX40 index, the flagship index of MCX-SX, rose by 126.46 points, or 1.10 per cent, at 11,620.81. Brokers said energy stocks, led by heavyweight Reliance Industries, rose smartly after the government agreed to raise natural-gas prices as part of economic policy overhaul to revive growth. They said foreign funds snapped a 13-day long selling streak and turned net buyers in the last two sessions, which helped the market to rise. Foreign institutional investors pumped in Rs.1, 124.31 crore into local equities on Friday, as per BSE provisional data. Out of the 30 BSE shares, 24 shares ended with gains led by Maruti Suzuki rising 4.37 per cent to Rs. 1,605.25. Other major gainers were RIL, which closed 2.43 per cent higher at Rs. 882.80 and Larsen and Toubro up 3.26 per cent at Rs. 1,449.95. Tata Power rose by 2.73 per cent to Rs. 88.40 after the company raised its tariff and NTPC jumped up by 2.78 per cent to Rs. 147.70. Sectorally, the realty sector index gained the most by surging 5.26 per cent to 1,590.67 followed by power index by 2.77 per cent to 1,667.53. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, opening trade/closing trade
Printable v ersion | Jul 1 , 2 01 3 8:56 :4 3 PM | http://www.thehindu.com /business/m arkets/sensex-zoom s-to-1 m onth-high-up-1 82 -pts/article4 86 9 52 4 .ece The Hindu
www.thehindu.com/business/markets/sensex-zooms-to-1month-high-up-182-pts/article4869524.ece?css=print
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7/1/13
Wall Street Rallies in 3Q Opener | Fox Business


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Wall Street Rallies in 3Q Opener

By Adam Samson / Pub lished July 01, 2013 / FOXBusiness


A round of encouraging data on the global manufacturing sector whetted traders' buying appetites Monday, sending stocks charging deep into the green. Today's Markets
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As of 10:06 a.m. ET, the Dow Jones Industrial Average climbed 166 points, or 1.1%, to 15078, the S&P 500 rallied 19 points, or 1.2%, to 1625 and the Nasdaq Composite jumped 50.5 points, or 1.5%, to
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Despite turmoil at the end of the second quarter, the markets managed to post the best first half of a year since the late 1990s. Global trading desks bid up equities as the third quarter began as traders digested mixed data on the manufacturing sector. The Institute for Supply Managements U.S. PMI gauge increased to 50.9 in June from 49 in May, narrowly beating expectations of 50.5. The data indicate the U.S. manufacturing sector shifted into expansion in June from a mild contraction in May. The contraction in the eurozone manufacturing sector slowed down mildly in June from the month before, with a PMI reading from Markit coming in at 48.8 from 48.3. Germany, the bloc's biggest economy, struggled, but France, Spain and Italy showed signs of stabilization. "Eurozone manufacturing is showing welcome signs of stabilising," said Chris Williamson, chief economist at Markit. "Both output and new orders barely fell during June, and on this trajectory a return to growth for the sector is on the cards for the third quarter." China's official PMI fell to 50.1 in June from 50.8 the month before, which was essentially in-line with estimate. However, a private report from HSBC showed conditions deteriorating at the swiftest pace since September. There have been concerns that the world's No. 2 economy will rapidly cool down, but those haven't yet come to fruition.
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Elsewhere, gold rallied after posting its worst quarterly slump on record. The precious metal jumped $12.20, or 1%, to $1,236 a troy ounce. Oil climbed 68 cents, or 0.7%, to $97.24 a barrel. Wholesale New York Harbor gasoline gained 0.62% to $2.733 a gallon. In corporate news, Apple (AAPL) applied for a trademark for an "iWatch" in Japan, fueling speculation the technology giant could be introducing a new class of product soon. Foreign Markets The Euro Stoxx 50 jumped 0.8% to 2624, the English FTSE 100 rallied 0.92% to 6272 and the German DAX advanced 0.4% to 7991. In Asia, the Japanese Nikkei 225 surged 1.3% to 13853 and the Chinese Hang Seng zoomed higher by 1.8% to 20803.
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Stocks hold gains, but rally fades - Jul. 1, 2013
Stocks kick off second half with gains

NEW YORK (CNNMoney)
U.S. stocks kicked off the second half of 2013 with gains, although the major indexes ended Monday well below the highs of the day. The Dow Jones industrial average rose points 65 points, or 0.4%. The index had been up more than 170 points earlier in the day. (See what's moving the Dow 30.) The S&P 500 gained 0.5% and the Nasdaq rose 0.9%. The advance came after a key index of manufacturing activity in June signaled expansion, while government data showed a rise in construction spending in May. The reports were consistent with a gradually improving economy, but not strong enough to raise concerns about the Federal Reserve reducing its stimulus policies. Stocks turned volatile last month as investors grappled with concerns about when the U.S. central bank will begin tapering its $85 billion-per-month bond buying program. Despite falling about 1% in June, the major indexes gained between 2% and 5% in the second quarter. A weak reading on U.S. GDP and dovish comments from Fed officials last week "seemed to settle the markets down and reverse some of the obvious overreaction," said Randy Frederick of the Schwab Center for Financial Research. However, he said stocks will remain volatile as investors continue to weigh the implications of higher interest rates on the economy.
Related: Fear & Greed Index shows investors still on edge
The holiday-shortened week ahead brings a number of top-tier ecnomic numbers, including Friday's all-important monthly report on hiring and unemployment. U.S. markets will be closed Thursday for Independence Day. Geopolitics could also be a headwind. Egyptian president Mohamed Morsy was under pressure to restructure his government after the nation's military backed anti-government protesters in Cairo's Tahrir Square.
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Click here for more on stocks, bonds, commodities and currencies Rally back on track: Overall, the stock market has been on a tear this year. The S&P 500 is up more than 12% in the first half, compared with an average gain of about 4% for every first half going back to 1945, according to Sam Stovall, chief equity strategist at S&P Capital IQ. If history is any guide, the next six months should also be strong. In years when the S&P 500 fell in the first half, the second half also tends to be sub-par. But in years when the index rose in the first half, it gained an average 5.4% during the second half, according to Stovall's calculations. "History says the momentum is likely to continue," said Stovall.
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What's moving: Shares of Zynga ( ZNGA) rose nearly 11% for the day and were up about 3% after the market closed following an announcement that CEO Mark Pincus will step down. Open Table ( OPEN) shares fell after Groupon ( GRPN) debuted Groupon Reserve, a rival online service that allows customers to book tables online at restaurants in 10 U.S. cities. Groupon plans to add more cities and expand internationally by year-end. Shares of BlackBerry ( of analysts' forecasts. BBRY) continued to falter after the company last week reported first-quarter results that fell far short
Shares of Onyx Pharmaceuticals ( ONXX) surged more than 50% after the maker of cancer drugs rejected a takeover bid by biotechnology firm Amgen ( AMGN, Fortune 500). Best Buy ( BBY, Fortune 500) shares jumped on a bullish analyst report. Pandora ( P)was upgraded by Morgan Stanley ( MS, Fortune 500), sending shares of the music streaming company to a new 52-week high. Tesla ( TSLA) shares hit a record high above $116 after analysts at Jefferies raised their price target for the stock to $130.
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European markets ended higher. The FTSE ( UKX) in London rose 1.5% as a new governor, Mark Carney, joins the Bank of England from Canada. Markets are generally expecting looser monetary policy from the central banker. "We won't have to wait long to gauge how Mr. Carney will use his new powers, as the first big event happens this Thursday when he chairs his first meeting of the Bank of England's Monetary Policy Committee," explained Lee McDarby, from Investec's Corporate Treasury unit. European investors were also cheering Nokia's ( NOK ) decision to pay $2.2 billion to buy the entire Nokia Siemens Networks unit, which is 50% owned by Siemens ( SI). Shares of Nokia jumped on the news.
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Asian markets ended mostly higher, with the Shanghai Composite up 0.8% and Tokyo's Nikkei gaining 1.3%. Hong Kong's stock exchange was closed for a holiday.
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U.S. stocks close higher, shaking off global worries - Jul. 3, 2013
U.S. stocks shake off global worries

By Maureen Farrell @Maureenmfarrell July 3, 2013: 1:26 PM ET
NEW YORK (CNNMoney)
U.S. investors were resilient in the face of renewed global worries Wednesday. After bouncing around the breakeven for most of the day, stocks rallied into the early 1 p.m. ET close. The Dow Jones industrial average, the S&P 500 and the Nasdaq ended up between 0.1 % and 0.3%. Renewed political instability in Europe, violent clashes in Egypt and concerns about rising oil prices caused global markets to falter. Oil prices topped $100 a barrel, the highest levels in more than a year, on fears that problems in Egypt could spread beyond its borders. But economic numbers gave investors some reason for optimism. Jobs numbers were mostly better than expected, yet a weak manufacturing report raised concerns about economic growth. U.S. markets will be closed Thursday in observance of Independence Day.
Preview to jobs Friday: Investors liked what the saw in the job numbers, mostly from the ADP's monthly figure on privatesector payrolls. These figures came in above expectations. First-time unemployment claims came in slightly below forecasts. Still, investors are waiting for the big jobs numbers due out Friday. Economists surveyed by CNNMoney predict the U.S. economy added 155,000 jobs and the unemployment rate fell to 7.5% in June.
Related: Business hiring picks up
Europe... again?: Worries over the health of peripheral European countries once again caused global concerns. Major European stock markets closed 1.3% lower, as investors worried that political turmoil in Portugal could re-ignite the region's debt crisis and a credit rating downgrade hit European banks. Asian markets also ended with losses. "Portuguese political pandemonium continues today as austerity fatigue has led to the resignation of several key ministers and
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we could now be looking at the possibility of early elections," said Lee McDarby, head of corporate and institutional treasury dealing at Investec Bank.
Related: Investors still on edge: Fear & Greed in fear
Portugal's 10-year government bond yields hit 8% and the country's benchmark stock index shed more than 6% Wednesday after the finance minister stepped down and the foreign minister announced his resignation. Portuguese opposition parties are calling for an early election, though Prime Minister Pedro Passos Coelho insists he will not resign.
Bank stocks get double whammy

Credit rating agency Standard & Poor's downgraded three European banks -- Credit Suisse ( CS ), Deutsche Bank ( DB ) and Barclays ( BCS) --- citing worries over the size of their investment banking portfolios and the impact of new regulations. Shares of Credit Suisse and Deutsche Bank closed lower, while shares of Barclays ended up. The Obamacare fallout: The Obama administration's decision to delay implementing some parts of health care reform hit hospital stocks Wednesday. Shares of Tenet Healthcare ( THC, Fortune 500), HCA Holdings ( HCA, Fortune 500), Community Health Systems ( CYH, Fortune 500) and Health Management Associates ( HMA, Fortune 500) dropped between 2% and 4%.
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Sensex up 233 points as IT stocks zoom first in three days - The Hindu
B u sine ss M ark e ts
Sen sex u p 233 po in ts as IT sto ck s z o o m first in th ree days

PTI
IT stocks helped the sensex to move up by 223 points on Thursday. A file picture of iconic Bombay Stock Exchange building in Mumbai.
The Hindu
Rising for the first time in three days, the BSE benchmark Sensex on Thursday closed over 233 points higher as funds resumed buying at prevailing low levels mainly in IT sector stocks, amid firm global cues. The 30-share index commenced the day on a firm note at 19,348.01 and rose further by 233.08 points, or 1.22 per cent, to close at 19,410.84. Sensex had lost 400 points in the last two sessions. Similarly, the wide-based National Stock Exchange index Nifty gained 66.05 points, or 1.14 per cent, to close at 5,836.95. Also, SX40 index, the flagship index of MCX-SX, closed 152.2 points, or 1.33 per cent higher at 11,565.58. Brokers said IT company stocks remained in demand as weakening rupee and signs of improving US economy raised hopes of higher revenues. Countrys top two software exporters Tata Consultancy Services and Infosys, which get more than half of their revenues from the US and European countries, surged remarkably on the dollar gaining against the rupee. While TCS shot up by 3.26 per cent to Rs 1,534.15, Infosys by 2.29 per cent to Rs 2,460.50. The third biggest software exporter Wipro rose by 2.13 per cent to Rs 350.75. A firming trend in the global markets after better-than-estimated US jobs data added to signs of recovery in the worlds largest economy, also boosted the earnings outlook for exporters, brokers added. Out of the 30 BSE index components, 20 stocks gained led by ITC surging 3.74 per cent to Rs 338.50. Sectorally, the IT sector index gained the most by rising 2.73 per cent to 6,244.37, followed by FMCG by 2.69 per cent to 6,785.40. Keywords: Bombay stock exchange, IT stocks, US Dollar, Rupee
Printable v ersion | Jul 4 , 2 01 3 7 :2 4 :1 5 PM | http://www.thehindu.com /business/m arkets/sensex-up-2 3 3 -points-as-it-stocks-zoom -first-in-three-day s/article4 8809 3 1 .ece The Hindu
www.thehindu.com/business/markets/sensex-up-233-points-as-it-stocks-zoom-first-in-three-days/article4880931.ece?css=print
1/1
7/5/13
Sensex up 85 points; RIL, HUL soar - The Hindu
B u sine ss M ark e ts
Sen sex u p 8 5 po in ts; RIL, HUL so ar

PTI
A view of the Bombay Stock Exchange in Mumbai. File photo
AP
The BSE benchmark Sensex on Friday closed 85 points higher led by gains in bluechips, including RIL and HUL, on sustained buying by funds on some capital inflows, amid a firm trend overseas. The 30-share index commenced the days trade on a bullish note at 19,616.89 but lost most of the early gains and settled just 84.98 points, or 0.44 per cent higher at 19,495.82. Sensex had gained over 233 points on Thursday. Similarly, the wide-based National Stock Exchange index Nifty gained 30.95 points, or 0.53 per cent, to close at 5,867.90. Also, SX40 index, the flagship index of MCX-SX, closed 60.3 points, or 0.52 per cent higher at 11,625.88. Brokers said the market remained firm as market heavyweights Reliance Industries surged and Hindustan Unilever climbed to record high after Anglo-Dutch parent company Unilever Plc said it has increased its stake in it. A firming trend on other Asian bourses and higher opening in European markets as investors awaited data on the US job data also boosted the trading sentiment here, they added. Sugar stocks were also back in demand following reports that the government is planning to hike import duty to discourage arrivals from overseas markets. Meanwhile, foreign institutional investors continued lapping up domestic equities and pumped in over Rs. 164.56 crore on Thursday, as per BSE provisional data. Out of the 30 BSE index components, 16 stocks ended higher led by Jindal Steel rising 3.51 per cent to close at Rs. 223.90. Among other major gainers, RIL rose by 2.15 per cent to Rs. 880.20 and HUL by 1.40 per cent to Rs. 609.15. Sectorally, the oil and gas sector index gained the most by rising 1.49 per cent to 8,915.96, followed by FMCG index by 0.89 per cent to 6,845.94. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade
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7/5/13
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FOX Business: Capitalism Lives Here U.S. stock-index futures rallied Friday as traders cheered stronger than expected data on the American labor market and dovish commentary from central banks in Europe. Today's Markets
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As of 8:43 a.m. ET, Dow Jones Industrial Average futures jumped 146 points to 15061, S&P 500 futures rallied 15.5 points to 1625 and Nasdaq 100 futures advanced 25.8 points to 2963. The Labor Department said nonfarm payrolls jumped by 195,000 in June, coming in well above expectations of 165,000. The May job increase was also revised higher by 20,000 to 195,000. The unemployment rate held steady at 7.6%, compared to expectations that it would fall to 7.5%. The labor force participation rate rose in June to 63.5% from 63.4% in May. The data have taken on even more significance in recent months because the Federal Reserve has said it will only begin boosting interest rates from crisis-era levels once the labor market makes substantial improvements. Fed Chairman Ben Bernanke said last month that equates to an unemployment rate around 7%. "A tapering of the Feds massive quantitative easing program is looking increasingly likely to start in the next few months after much better than expected job creation in the second quarter," said Chris Williamson, chief economist at Markit.
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Indeed, Treasury bonds sold off on the back of the report. The benchmark 10-year yield jumped 0.175 percentage point to 2.685%. It wasn't only America that celebrated July Fourth on Thursday. European markets surged in their best day in more than two months on the back of a pledge from European Central Bank President Mario Draghi to keep interest rates low for an extended period of time. The Bank of England also signaled it would keep rates low for a long time to come.
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Stock Futures Soar on Jobs Data, ECB News | Fox Business
In commodities, U.S. oil prices climbed 83 cents, or 0.81%, to $102.07 a barrel. Gold dropped $29.70, or 2.4%, to $1,222 a troy ounce. On the corporate front, Samsung Electronics saw its shares fall sharply on a disappointment second-quarter forecast. Follow Adam Samson on Twitter @adamsamson.
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Stocks end higher on strong jobs report - Jul. 5, 2013
Stocks end higher on strong jobs report

NEW YORK (CNNMoney)
A strong jobs report sent stocks higher Friday, capping a weekly gain for the market as investors set aside concerns about the Federal Reserve and focused on the improved outlook for economic growth. The Dow Jones industrial average, the S&P 500 and the Nasdaq gained about 0.9%. For the week, the Dow and the S&P 500 both rose more than 1.5%, while the Nasdaq gained over 2%. The government said U.S. payrolls grew by 195,000 jobs in June, more than economists had expected. But the unemployment rate held steady at 7.6%. Traders said volumes were light Friday since many money managers took the day off. U.S. markets were closed Thursday for the Fourth of July holiday. Double edged sword. Investors were encouraged to see signs of improvement in the job market, but the report also makes it more likely that the Fed will begin to taper its stimulus policies later this year. The U.S. central bank has signaled that it will begin to slow the pace of its $85-billion-per-month bond buying program when it sees significant improvement in the unemployment rate. While the unemployment rate was unchanged last month, economists say the gains in hiring -- including past months that were revised higher -- mean the rate should head lower in the months ahead. There will be two more reports on the unemployment rate and hiring before the Fed's next scheduled meeting in September. The June report was "more than strong enough to keep the Fed on track for tapering in September," said Jim O'Sullivan, chief U.S. economist at High Frequency Economics.
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Stocks end higher on strong jobs report - Jul. 5, 2013
Hiring picks up steam

Bond yields spike. Investors in the bond market seemed to view the good news as bad news. The yield on the 10-year U.S. Treasury note rose to 2.72%, the highest level since August 2011. Investors have been selling bonds, driving yields higher, in anticipation of fewer Fed purchases. Some economists worry that an abrupt rise in interest rates could hurt the U.S. economy. Mortgage rates have spiked in the past few weeks, raising concerns about the housing market. Still, the sell-off in Treasuries comes on light volume and may be an overreaction, said Kevin Giddis, head of fixed-income at Raymond James. "I would caution against putting too much into today's move on the Treasury market," said Giddis. But he added that interest rates are headed higher as the Fed moves away from quantitative easing, as its bond buying program is known, later this year. "I do believe that we have set sail on an upward trend of interest rates that will likely lead to the Fed's tapering of QE in September or October," said Giddis. What's next. In the long run, any tapering by the Fed would reflect an improved outlook for the economy and should bode well for stocks. But traders say volatility will remain high in the short run as the Fed's next move remains uncertain. "We're going through a transition from a liquidity-driven equity market to a market more driven by economic and corporate fundamentals," said Bernard Kavanagh, vice president of portfolio management at Stifel Nicolaus. In the currency market, the U.S. dollar rose versus its main trading partners. The greenback has been strong recently as investors bet the U.S. economy will grow faster than most other developed economies. What's moving. Gold prices fell 3%, to $1,214.50 an ounce. That put pressure on shares of Newmont Mining ( 500), which sank 4%. NEM, Fortune
Shares of large homebuilders were under pressure as investors worry that higher mortgage rates will cool the housing market. Lennar ( LEN) and D.R. Horton ( DHI) fell more than 3%. Meanwhile, shares of regional banks, which are expected to benefit from rising interest rates, rallied. Lincoln National ( LNC, Fortune 500), KeyCorp ( KEY, Fortune 500), SunTrust ( STI, Fortune 500) and Comerica ( CMA) all gained more than 3%. Mixed news overseas. Europe got a boost Thursday when the region's central banks signaled that interest rates would remain at unusually low levels for an extended period of time. But European markets gave back some gains Friday. The DAX in Germany fell 2.3%.
Related: Fear & Greed Index
Investors also monitored the political turmoil in Egypt, which has sent oil prices higher in the past few days, and in Portugal, where leaders are trying to prevent a government collapse that would undermine its 78-billion euro bailout.
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FOX Business: Capitalism Lives Here The markets posted big gains in thin trading on Friday as market participants reacted to a strong report on the labor market and dovish European Central Bank commentary. Today's Markets According to preliminary calculations, the Dow Jones Industrial Average rose 147 points, or 0.98%, to 15135, the S&P 500 jumped 16.5 points, or 1%, to 1632 and the Nasdaq Composite advanced 35.7 points, or 1%, points to 3479. The Labor Department said nonfarm payrolls jumped by 195,000 in June, coming in well above expectations of 165,000. Previous months were also revised higher by 70,000 in total. The unemployment rate held steady at 7.6%, compared to expectations that it would fall to 7.5%. Meanwhile, the labor force participation rate rose by 0.1 percentage point to 63.5%. Traders generally saw the data as an indication the labor market continues to improve. Dan Greenhaus, chief global strategist at BTIG, said the report was "pretty darn good," citing the strong headline figures and also the upward revision.
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The data have taken on even more significance in recent months because the Federal Reserve has said it will only begin boosting interest rates from crisis-era levels once the labor market makes substantial improvements. Fed Chairman Ben Bernanke said last month that equates to an unemployment rate around 7%. "A tapering of the Feds massive quantitative easing program is looking increasingly likely to start in the next few months after much better than expected job creation in the second quarter," said Chris Williamson, chief economist at Markit. Indeed, Treasury bonds sold off on the back of the report. The benchmark 10-year yield jumped 0.175 percentage point to 2.685%. It wasn't only America that celebrated July Fourth on Thursday. European markets surged in their best day in more than two months on the back of a pledge from European Central Bank President Mario Draghi to keep interest rates low for an extended period of time. The Bank of England also signaled it would keep rates low for a long time to come. In commodities, U.S. oil prices climbed 83 cents, or 0.81%, to $102.07 a barrel. Gold dropped $29.70, or 2.4%, to $1,222 a troy ounce. On the corporate front, Samsung Electronics saw its shares fall sharply on a disappointment second-quarter forecast. Follow Adam Samson on Twitter @adamsamson.
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Wall Street Climbs, But Tech Shares Lag | Fox Business


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FOX Business: Capitalism Lives Here The markets pushed higher Monday as traders geared up for secondquarter earnings season. Technology stocks, however, failed to keep up with the broader markets. Today's Markets
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The Dow Jones Industrial Average jumped 89 points, or 0.59%, to 15225, the S&P 500 climbed 8.6 points, or 0.53%, to 1640 and the Nasdaq Composite gained 5.5 points, or 0.16%, to 3485.
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Alcoa (AA), the world's largest aluminum maker, unveils its quarterly earnings after the closing bell on Monday in the unofficial start of second-quarter earnings season. Analysts expect the embattled Dow component to earn six cents a share on $5.8 billion in revenues. Banking giants J.P. Morgan Chase (JPM) and Wells Fargo (WFC) both post their results on Friday. Also on the corporate front, Institutional Investor Services suggested Dell (DELL) shareholders vote for a take-private deal by founder Michael Dell and private-equity firm Silver Lake Partners. There are no major economic reports slated for release on Monday. However, there are several key inflation gauges, a consumer sentiment survey and minutes from the Fed out throughout the course of the week. Fed Chairman Ben Bernanke is also set to speak on Wednesday. Elsewhere, gold prices rallied 1.6% to $1,232 a troy ounce. Oil dipped 52 cents, or 0.49% , to $102.71 a barrel. Wholesale New York Harbor gasoline fell 0.3% to $2.889 a gallon. Treasury yields fell mildly, with the benchmark 10-year slipping 0.03 percentage point to 2.721%. Foreign Markets The Euro Stoxx 50 rallied 2% to 2647, the English FTSE 100 rose 0.79% to 6426 and the German DAX soared 2.3% to 7981. In Asia, the Japanese Nikkei 225 sold off by 1.4% to 14109 and the Chinese Hang Seng dropped 1.3% to 20582. Follow Adam Samson on Twitter @adamsamson.
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Stocks: The gains continue - Jul. 8, 2013
Stocks: The gains continue

By Maureen Farrell @CNNMoneyInvest July 8, 2013: 4:22 PM ET
NEW YORK (CNNMoney)
The rally just keeps going. Stocks closed higher Monday ahead of a big, upcoming wild card: corporate earnings season. The Dow Jones Industrial Average and the S&P 500 gained between 0.5% and 0.6% The tech-heavy Nasdaq index was the laggard index, adding just 0.2%. 'Tis the earnings season: Second-quarter earnings season will kick off after the close of trading, starting with aluminum producer Alcoa ( AA, Fortune 500). Investors typically look to the Dow component's quarterly results as a litmus test for how Corporate America fared over the past three months. For most of the year, earnings haven't had a big impact on stocks. Instead, investors have focused primarily on the status of the U.S. Federal Reserve's massive bond buying program, which has served as rocket fuel for stocks. All three indexes are up between 14% and 16% this year.
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But with the Fed expected to take its foot off the gas, investors will be forced to grapple with the fundamentals underlying the stocks they're buying and selling. That's why they'll pay extra attention to this latest round of corporate earnings. Analysts aren't expecting all that much from U.S. companies the second quarter. "Sales have got to start coming through," said fund manager Fiona Harris from J.P. Morgan Asset Management. "We believe the relatively sluggish U.S. sales growth could start to weigh heavily if we don't see improvement soon."
Related: Fear & Greed Index shows investors still fearful
Or maybe not... Yet other market analysts note that even if earnings aren't stellar, stocks could still continue on their recent tear. That's because the U.S. stock market continues to look like the safest place in the world to invest, noted Paul Powers, head of trading at Raymond James. On Friday, for example, the U.S. Labor Department reported that the country added more jobs in June than economists had
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Stocks: The gains continue - Jul. 8, 2013
expected. With that and other signs of economic improvement in the country, investors bet that the Federal Reserve would be even more likely to scale back its bond buying program. On Monday, bond prices remained lower -- keeping 10-year U.S. Treasury yields elevated at 2.7% -- and put money into stocks. "There's been a beat down in fixed income, and people continue to put money to work in equities," said Powers.
Around the world: European markets closed higher, up between 1% and 2%. But Asian markets ended in the red. The Hang Seng index and the Nikkei in Japan both dropped by more than 1%. The Shanghai Composite index fell even further, down by 2.4%, on continuing concerns about slowing growth in China. Shares of Asiana Airlines dropped in South Korean markets after a Boeing 777 crashed in San Francisco over the weekend. But the stock price for Boeing ( BA, Fortune 500) was little changed. Analysts upgrades/downgrades: An upgrade by Morgan Stanley fueled a run-up in Priceline's ( Shares of Intel ( INTC, Fortune 500) sank, after Evercore downgraded the chip maker's stock. PCLN) stock.
Michael Dell may be the Dell victor

Looking ahead: According to Kit Juckes of Societe Generale in London, among the issues standing out for global investors in the week ahead are a speech by Federal Reserve chairman Ben Bernanke's on Wednesday, a possible "Scotch tape solution" to Portugal's economic crisis and concerns about the slowdown in China's economy. Michael Dell got one step closer to victory in his bid to take Dell ( gave him the nod of approval. DELL, Fortune 500) private along with Silver Lake, after ISS YUM, Fortune 500), JPMorgan
And following Alcoa, results are due later in the week from companies including Yum! Brands ( ( JPM, Fortune 500) and Wells Fargo ( WFC, Fortune 500).
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Sensex recovers by 115 points - The Hindu
Business Markets
Sensex recovers by 115 points

PTI
The benchmark BSE S&P Sensex on Tuesday gained 115 points to close at 19,439.48 amid a smart recovery in the rupee and on the back of firm global cues. The stock markets mirrored the currencys movement, which bounced back from a record low of 61.21 yesterday after SEBI and the Reserve Bank of India announced steps to curb speculative trade in currency derivatives, brokers said. There was across-the-board buying as all 13 sectoral indices closed between 0.04 per cent and 1.93 per cent higher, with consumer durables, power, realty, capital goods, pharma and banking stocks taking the lead. According to analysts, the market seemed to be consolidating above the 19,000 level ahead of first-quarter results starting later this week. Software services giant Infosys is scheduled to report its Q1 results on Friday. In the coming days, we could see stock-specific movements due to quarterly results, said Nagji K Rita, Chairman & MD, Inventure Growth & Securities. Overall, the markets could move sideways with an upward bias. The markets may pick up volatility as it approaches the end of this week when the IIP data would be announced. Gains in HDFC Bank, Sun Pharma, L&T, Infosys, RIL, HDFC, ICICI Bank, SBI, Bajaj Auto, Dr Reddys Lab and BHEL supported the Sensex. The 30-share barometer opened higher, in line with higher Asian cues on the back of a strong closing on Wall Street yesterday, and remained in positive terrain to settle at 19,439.48, adding 114.71 points or 0.59 per cent. Yesterday, the Sensex dropped 0.88 per cent. The 50-share CNX Nifty on the NSE gained 47.45 points to end at 5,859.00. The SX40 index on the MCXSX climbed 62.75 points, or 0.54 per cent, to 11,598.19. The rupee gained 48 paise to 60.13 against the dollar in early trade at the Interbank Foreign Exchange market. Asian stocks closed higher after Alcoa Inc. started the US earnings season with results that beat analyst estimates. Key benchmark indices in China, Hong Kong, Singapore, Japan, South Korea and Taiwan rose by 0.37 per cent to
www.thehindu.com/business/markets/sensex-recovers-by-115-points/article4898412.ece?css=print 1/2
7/9/13
Sensex recovers by 115 points - The Hindu
2.58 per cent. European markets were higher in early trade after Alcoas earnings and as euro-zone finance ministers agreed on aid disbursement for Greece. The CAC was up by 0.79 per cent, the DAX by 1.18 per cent and the FTSE by 1.03 per cent. In the domestic market, 22 Sensex scrips gained. The major gainers were Sun Pharma (3.57 pc), BHEL (2.22 pc), Bajaj Auto (2.29 pc), Sterlite (1.88 pc), Dr Reddys Lab (1.82 pc), Larsen (1.70 pc), NTPC (1.43 pc), HDFC Bank (1.27 pc), Wipro (1.17 pc), SBI (1.01 pc) and Infosys (0.97 pc). Jindal Steel dropped by 1.9 per cent, followed by M&M (1.18 pc), ONGC (0.79 pc) and HUL (0.76 pc). Among the sectoral indices, S&P BSE-CD gained 1.93 per cent, followed by S&P BSE-Power 1.86 per cent, S&P BSERealty 1.65 per cent, S&P BSE-CG 1.47 per cent, S&P BSE-HC 1.44 per cent and S&P Bankex 1.26 per cent. The market breadth turned positive as 1,306 stocks closed with gains and 1,014 finished with losses. The total turnover rose to Rs 1,751.70 crore from Rs 1,557.21 crore yesterday. Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade
Printable v ersion | Jul 1 0, 2 01 3 2 :2 5:1 2 AM | http://www.thehindu.com /business/m arkets/sensex-recov ers-by -1 1 5-points/article4 89 84 1 2 .ece The Hindu
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Stocks buoyant as earnings season kicks off - Jul. 9, 2013
Stocks buoyant as earnings get underway

NEW YORK (CNNMoney)
Investors pushed stocks closer to record highs Tuesday after a positive start to earnings season gave global markets a tailwind. The Dow Jones industrial average, the S&P 500 and the Nasdaq gained between 0.5% and 0.7%. All three indexes have closed higher for four straight days in a row and the Dow is now less than 1% below the record closing high it hit on May 28. Alcoa ( AA, Fortune 500) was the first Dow component to report second-quarter results after the markets closed Monday.
Alcoa's results, which topped forecasts, combined with lingering sentiment from last week's better-than-expected jobs report helped support stocks Tuesday, said Anthony Conroy, head trader at BNY ConvergEx Group. Conroy said trading volumes were light as the market enters the "summer doldrums," though he added that investors were taking advantage of the recent pullback to add new positions. "After we had a bit of a correction, people are now putting money back to work," he said.
Click here for more data on bonds, commodities and currencies
Eye on earnings: Overall, earnings for companies in the S&P 500 are expected to grow 0.8% versus last year, according to FactSet. That would be the worst since the third quarter of 2012, when the growth rate declined. While companies could beat analysts' low expectations, investors are eager to see revenue growth based on consumer demand, rather than cost cutting. "We want to see companies beating for the right reasons," said Conroy. "We want to see growth." Firms including Yum! Brand, ( YUM, Fortune 500) JPMorgan ( are set to report results later this week. JPM, Fortune 500) and Wells Fargo ( WFC, Fortune 500)
Economy stuck in neutral: Recent Fed-driven choppiness has eased as investors put aside concerns about the Federal Reserve slowing down its massive bond buying program, which would remove some liquidity from the markets.
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But the focus could shift back to the Fed Wednesday, when the central bank releases minutes from its most recent policy meeting and chairman Ben Bernanke makes a speech in Cambridge, Mass. Separately, the International Monetary Fund cut its world economic growth forecast for the third time this year due to slowing emerging markets and a prolonged recession in the eurozone. In an update to its World Economic Outlook, the IMF said Tuesday that it now expects world output to expand by just 3.1% in 2013, down from 3.3% in April. In January, it was forecasting growth of 3.5%.
Related: Fear & Greed Index driven by fear
European markets ended higher. The DAX in Germany gained more than 1.2%. London's benchmark FTSE 100 gained nearly 1% and the CAC 40i ( CAC40)n Paris rose 0.6%. The U.K. pound hit a new 2013 low after data on British industrial production and manufacturing came in weaker than expected. Standard & Poor's lowered Italy's credit rating one notch to "BBB." The move reflects the weak growth outlook for Italy and an ineffective monetary policy, according to S&P. Asian markets ended Tuesday with gains. Japan's Nikkei surged 2.6% as it recovered from a fall on Monday. But gains in China were more modest after a report on inflation came in higher than expected. China's CPI jumped to 2.7% in June, up from 2.1%. What's moving: Shares of FedEx ( FDX, Fortune 500) jumped nearly 5% on speculation that activist investor Bill Ackman might take a stake in the parcel delivery company. BlackBerry ( BBRY) shares rose as the smartphone maker held its annual meeting with shareholders.
Tesla Motors ( TSLA) is joining the Nasdaq-100 and replacing software company Oracle ( ORCL, Fortune 500). The electric car maker's stock rose above $125 -- more than four times what the stock was worth at the beginning of the year.
Barnes & Noble in transition

Barnes & Noble ( BKS, Fortune 500) shares rebounded, one day after the bookseller announced that CEO William Lynch was resigning. Barnes & Noble has no immediate plans to name a new CEO as it moves through a "transitional" phase. Shares of Intuitive Surgical Inc. ( investors. ISRG) plunged after the surgical robotics company pre-announced results that disappointed HTSI) in an all-cash
Shares of Kroger ( KR, Fortune 500) rose to an all-time higher after it agreed to buy rival Harris Teeter ( deal valued at $2.5 billion.
NYSE Euronext ( NYX) won a contact to take over Libor, the London interbank offered rate that has been at the epicenter of a wide-ranging bid rigging scandal.
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Alcoa Beat Lifts Stocks; Nasdaq Logs Best Close Since 2000 | Fox Business

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Alcoa Beat Lifts Stocks; Nasdaq Logs Best Close Since 2000

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FOX Business: Capitalism Lives Here Upbeat earnings from Alcoa sent stocks climbing Tuesday. Meanwhile, the Nasdaq notched its highest close in nearly 13 years. Today's Markets The Dow Jones Industrial Average climbed 75.7 points, or 0.5%, to 15300, the S&P 500 gained 11.9 points, or 0.72%, to 1652 and the Nasdaq Composite advanced 19.4 points, or 0.56%, to 3504.
1 Tesla Shares Race to Another All-Time High

2 Chinese Hard-Landing Fears Loom
3 FedEx Pops on Legal Settlement, Ackman Buzz
4 Tesla Gets a Big ETF Promotion (TSLA)
5
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economy. The telecommunications sector was the single laggard. Alcoa (AA) revealed quarterly results after the closing bell that beat analysts' expectations on the top and bottom lines. While analysts warn the embattled company no longer represents a true bellwether, it still helped get corporate reporting season off to a strong start. Larger firms J.P. Morgan Chase (JPM) and Wells Fargo (WFC) are both slated to unveil their earnings on Friday.
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On the economic front, the International Monetary Fund chopped down its 2013 and 2014 world growth forecast to by 0.2 percentage point to 3.1% and 3.8%, respectively. The IMF pointed to cooling in emerging markets and the years-long recession in Europe as drivers. Traders had a smattering of other corporate news to parse through as well. NYSE Euronext (NYX) will become the administrator of controversial London Interbank Offered Rate (Libor), previously run by the British Bankers Association, according to multiple news report. Barnes & Noble (BKS) said its chief executive William Lynch will resign amid a management shakeup. Kroger (KR) said it will buy Harris Teeter Supermarkets (HTSI) in a $2.44 billion deal. Goldman Sachs (GS) downgraded IBM (IBM) to "neutral" from "buy" and cut its price target on Big Blue by $20 to $200 a share. Gold prices rallied for the second day in a row. The precious metal jumped $13.30, or 1.1%, to $1,248 a troy ounce. Oil dipped 7 cents, or 0.07%, to $103.07 a barrel. Wholesale New York Harbor gasoline edged up 0.11% to $2.887 a gallon.
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Foreign Markets The Euro Stoxx 50 rose 0.55% to 2665, the English FTSE 100 gained 0.85% to 6505 and the German DAX rallied 1% to 8045.
Bull and Bear Debate on Markets
In Asia, the Japanese Nikkei 225 soared 2.6% to 14472 and the Chinese Hang Seng ticked up 0.49% to 20683. Follow Adam Samson on Twitter @adamsamson.

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Sensex up 333 pts in late morning trade - The Hindu
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Sensex up 333 pts in late morning trade

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Shares of metal, banking, capital goods, realty, PSU, power and refinery firmed up sharply on fresh demand. File photo
The S&P BSE benchmark Sensex on Thursday bounced back by 333 points in late morning trade on fresh buying as Asian stocks jumped after US Federal Reserve Chairman Ben S Bernanke said the worlds biggest economy will continue to need stimulus. Bernanke comments helped ease concerns about global liquidity. The Feds bond-buying programme, which has flooded global markets with liquidity, has helped support an array of assets, including equities in recent years. Shares of metal, banking, capital goods, realty, PSU, power and refinery firmed up sharply on fresh demand. L&T was trading at Rs. 978 as the stock turned ex-bonus on Thursday for 1:2 bonus issue. The benchmark BSE-30 share index, Sensex, opened higher at 19,468.46 points and advanced further to 19,664.62 before quoting 19,626.86 at 1030 hours. It showed a sharp gain of 332.74 points or 1.72 per cent from its last close. The NSE 50-share barometer Nifty also rose by 102.25 points, or 1.76 per cent, to 5,918.95 at 1030 hours. Major gainers were Hindalco Ind (3.52 per cent), Coal India (3.34 per cent), Larsen (2.99 per cent), HDFC bank (2.92 per cent), Sterlite Ind (2.81 per cent) and ICICI Bank (2.43 per cent). Asian stocks rose in early trade. Key benchmark indices in China, Hong Kong, Indonesia, Singapore, South Korea and Taiwan rose by 1.52 to 2.48 per cent while Japans Nikkei Average fell 0.15 per cent. Keywords: Sensex, U.S. stimulus drive, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets
Printable v ersion | Jul 1 2 , 2 01 3 2 :08:2 2 AM | http://www.thehindu.com /business/m arkets/sensex-up-3 3 3 -pts-in-late-m orning-trade/article4 9 04 2 9 4 .ece The Hindu
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Stocks back at record highs - Jul. 11, 2013
Stocks back at record highs

NEW YORK (CNNMoney)
Hello again, all-time highs. U.S. stocks soared back into record territory Thursday, as investors welcomed comments from Federal Reserve chairman Ben Bernanke. The Dow Jones industrial average rallied 163 points, or nearly 1.1%. The blue chip index topped 15,456 shortly after the opening bell, putting it above the record closing high it hit in May. The S&P 500 rose more than 1.1%, also topping its May record. The Nasdaq jumped 1.2%.
Click here for data on bonds, commodities, currencies and global markets
The Bernanke market: The gains came after Bernanke said late Wednesday that monetary policy would remain "highly accommodative" for the foreseeable future. Investors were spooked in May when Bernanke suggested the Fed could begin to scale back its $85 billion-per-month bond buying program this year. But top central bankers, including the chairman, have taken great pains to reassure investors that any tapering would depend on continued improvement in the economy. "Clearly, the market has digested the shift in Fed policy and is realizing that this is not a very dramatic shift at all," said Hank Smith, chief investment officer at Haverford Trust. "And, if it occurs," he continued, the shift "would be a good thing because it means more confidence in the economy, at least from the Federal Reserve."
Related: Citadel: The stock market is safer than ever
Bull market still has legs: Smith said the gains reflect an improvement in sentiment as investors continue to see any pullback in stocks as an opportunity to buy. He said the recession in Europe and slowing growth in emerging market economies makes the U.S. market particularly attractive, despite the below-average recovery.
Related: The bull looks tired
Looking ahead, Smith expects volatility to remain high as the timing of any Fed action remains uncertain. But he said the market could still rise an additional 5% to 7% by the end of the year.
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"Any pullback, or even a correction, would be welcomed by investors," he said. "There is a ton of money waiting for that."
Related: Fear & Greed Index shifts into greed
European markets closed higher, and major Asian markets ended with gains. Japan's benchmark Nikkei index moved 0.4% higher after the country's central bank said it would continue expanding its balance sheet. Jones said that comments from Japan's central bank have helped to buoy international markets. In U.S. economic news, the number of Americans filing for first-time unemployment benefits rose to a two-month high, according to the government's weekly report. But economists were quick to brush off the rise as a result of volatile numbercrunching, rather than a discouraging sign for the economy. Separately, the 30-year mortgage rate rose to its highest level in nearly two years, according to mortgage financing company Freddie Mac.
Chinese consumers scale back

What's moving: Microsoft ( MSFT, Fortune 500)announced a widely-anticipated reorganization of it's business operations, including a shakeup of high-level managers, according to various reports. Shares of Yum! Brands ( YUM, Fortune 500) reported earnings that beat expectations but worries about the KFC owner's growth in China pushed Yum Brands' stock lower. AMD ( AMD, Fortune 500) shares surged 11% after Bank of America analysts upgraded the company's stock. Other tech stocks hit fresh record highs, including Google ( GOOG, Fortune 500)and Amazon ( AMZN, Fortune 500). Bernanke's comments about maintaining low interest rates boosted homebuilders' stocks. D.R. Horton ( and Toll Brothers ( TOL) gained between 6% and 7%. DHI), Lennar ( LEN)
Conversely, regional banks, which usually benefit from higher rates, came under pressure. Shares of Regions Financial Corporation ( RF, Fortune 500), Comerica ( CMA), KeyCorp ( KEY, Fortune 500) and SunTrust Banks ( STI, Fortune 500) fell between 2% to 3%. Quarterly results are coming up Friday from mega-banks JPMorgan ( 500). JPM, Fortune 500) and Wells Fargo ( WFC, Fortune
Overall, earnings for companies in the S&P 500 are expected to grow 0.8% versus last year, according to FactSet.
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Bernanke Sends Dow, S&P to Fresh Closing Highs | Fox Business


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Bernanke Sends Dow, S&P to Fresh Closing Highs


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FOX Business: Capitalism Lives Here Wall Street soared on Thursday, with the Dow and S&P logging fresh closing highs, as traders cheered dovish comments from Federal Reserve Chairman Ben Bernanke. Today's Markets
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According to preliminary calculations, the Dow Jones Industrial Average jumped 170 points, or 1.1%, to 15461, the S&P 500 rallied 22.5 points, or 1.4%, to 1675 and the Nasdaq Composite leapt 57.5
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points, or 1.6%, to 3578. The broad S&P 500 narrowly extended its winning streak to five days on Wednesday. Sentiment among world trading desks got a boost late Wednesday after Bernanke suggested the U.S. economy will be in need of aggressive monetary accommodation from the central bank for a long time to come. Indeed, the broad S&P 500 and the Dow both topped their record closing highs and eyed record intraday peaks.
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"Thoughts of tapering have been banished to the outer darkness this morning, as Fed chairman Ben Bernanke seemed to come down firmly on the side of additional stimulus in his speech last night," Chris
Fresh Dow Highs
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Beauchamp, a market analyst at IG said in a note to clients. The speech ricocheted through many financial markets. The dollar recently sold off by more than 1% against a basket of world currencies that are tracked by the dollar index. That move helped gold prices zoom higher by $34.90, or 2.8%, to $1,282 a troy ounce. Traders also bid up U.S. Treasury bonds after a heavy selloff last week. The benchmark 10-year yield fell 0.043-percentage point to 2.571%. Oil prices fell just slightly, with the benchmark U.S. contract recently dipping 57 cents, or 0.53%, to $105.97 a barrel. Wholesale New York Harbor gasoline slumped 0.8% to $2.99 a gallon. There are two significant economic reports out at 8:30 a.m. ET. The number of individuals applying for first-time jobs benefits rose to 360,000 last week from an upwardly revised 344,000 the week prior, according to the Labor Department. Economists expected claims to fall to 340,000 from a initially reported 343,000. Data focusing on the labor market have been a major focus on Wall Street of late, as the Fed has said it will keep easing until there is substantial improvement on the jobs front. Meanwhile, the Labor Department reports U.S. import prices fell 0.2% in June from the month prior, compared to expectations they would hold steady. Meanwhile, export prices slipped 0.1%, matching expectations. Foreign Markets The Euro Stoxx 50 jumped 0.9% to 2684, the English FTSE 100 gained 0.66% to 6548 and the German DAX rallied 1.1% to 8155. In Asia, the Japanese Nikkei 225 edged up 0.39% to 14473 and the Chinese Hang Seng surged 2.6% to 21437.

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7/15/13
Sensex breaches 20K mark after 6 weeks - The Hindu
Business Markets
Sensex breaches 20K mark after 6 weeks

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TCS, Airtel lead market surge as BSE benchmark Sensex shoots up by 76 points
Paring early losses, the BSE benchmark Sensex shot up by 76 points on Monday to close above the 20,000 mark for the first time in over six weeks, led by gains in blue-chip stocks, including TCS and Bharti Airtel, as inflation numbers met market expectations amid firm global cues. The 30-share index started the day lower at 19,904.47 on profit booking triggered by weak IIP and retail inflation numbers that came after trading hours on Friday. It, however, reversed the falling trend during the day and closed 76.01, or 0.38 per cent higher at 20,034.48. This is the first time that the index has closed above the 20,000 mark since 20,215.40 on May 30. Similarly, the National Stock Exchange index Nifty gained 21.80 points, or 0.36 per cent, to close at 6,030.80. Also, SX40 index, the flagship index of MCX-SX, closed 51.15 points, or 0.43 per cent higher at 11,940.03. Brokers said the trading sentiment improved as wholesale price index-based inflation rose less than the market expectations. The WPI-based inflation rose 4.86 per cent in June compared with 4.7 per cent in May. There was optimism over the earnings season, which took a firm start with Infosys results outperforming market expectations. They said a firming trend in global markets as Chinese economic growth matched forecasts further influenced the trading sentiment. Out of the 30 BSE index components, 18 stocks closed with gains led by Hindalco rising 3.69 per cent to Rs 105.40. Other major gainers included Tata Consultancy Services (2.20 per cent), Bharti Airtel (3.20 per cent) and Hindustan Unilever (2.06 per cent). Sector-wise, the realty sector index gained the most by 1.94 per cent to 1,547.66, followed by FMCG by 1.19 per cent to 7,030.41. However, Infosys shares fell by 2.17 per cent to Rs 2,741.85 on profit booking. The stock had surged 12 per cent in the previous session after reporting higher quarter earnings.
www.thehindu.com/business/markets/sensex-breaches-20k-mark-after-6-weeks/article4917577.ece?homepage=true&css=print 1/2
7/15/13
Stocks gain as earnings come into focus - Jul. 15, 2013
Stocks gain as earnings come into focus

By Wenqian Zhu @CNNMoneyInvest July 15, 2013: 4:28 PM ET
Click here for more market data.
NEW YORK (CNNMoney)
U.S. stocks managed modest gains Monday after solid earnings from Citigroup, but the rise was tempered by a weak report on retail sales. The Dow Jones industrial average, the S&P 500 and the Nasdaq all edged up about 0.2%. The slim gains were enough to send the Dow and S&P 500 to new record closing highs, and the Nasdaq to the highest level in over a decade. Investors welcomed better-than-expected quarterly results from Citigroup ( C, Fortune 500), which reported net income of $4.2 billion, or $1.34 per share, driven by a jump in revenue and lower loan losses. Corporate earnings could be a big market driver this week. Goldman Sachs ( GS, Fortune 500) reports early Tuesday, along with Dow stocks Johnson & Johnson ( Coca-Cola ( KO, Fortune 500). JNJ, Fortune 500) and
Overall, the companies in the S&P 500 are expected to report earnings growth of less than 0.1% for the quarter, according to FactSet. That would be the weakest growth since earnings fell in the third quarter of 2012, but investors seem optimistic that companies will be able to beat analysts' low expectations. Meanwhile, retail sales rose 0.4% in June, the Census Bureau said Monday. That's a slowdown from a 0.6% rise a month earlier, and weaker than expected. Separately, the New York Federal Reserve bank said its index of manufacturing activity in the region rose to 9.5 in July, from 7.8 in June.
Related: China's GDP growth slows to 7.5%
"Investors are keeping a watchful eye on economic data, not only for signs about the direction of the economy, but perhaps more importantly in a search for clues about the Fed's next steps," said Jim Baird, chief investment officer for Plante Moran Financial Advisors. Federal Reserve chairman Ben Bernanke will be on Capitol Hill this week for his annual testimony on the economy. Bernanke gave the market a boost last week after he said U.S. monetary policy will remain "highly accommodative" for the foreseeable future.
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Stocks gain as earnings come into focus - Jul. 15, 2013
Why is China's economy cooling down?

Earlier, the Chinese government said gross domestic product rose by 7.5% in the second quarter, matching official estimates. While growth was slower than the 7.7% rate in the first quarter, investors were relieved that Chinese GDP was not weaker than expected. "Investors need to realize that China's leadership is primarily focusing on long-term changes, instead of quarter-to-quarter results," said Jack Ablin, chief investment officer at BMO Private Bank. What's moving? Shares of Leap Wireless International ( LEAP) jumped 112% after AT&T ( that it plans to acquire the prepaid wireless provider for about $1.2 billion. Tiffany & Co. ( T, Fortune 500) said on Friday
TIF) shares were up 3.6% after analysts at Stifel upgraded the jeweler to buy from hold.
Related: Fear & Greed Index gets greedy
Boeing's ( BA, Fortune 500) stock edged up after British investigators said that a Dreamliner fire at London Heathrow Airport last Friday was not linked to its batteries, which have created problems in the past. Major European markets closed higher with the UK's FTSE 100 ( UKX) up 0.6%. Meanwhile, the main Chinese markets ended with gains. The Shanghai Composite index rose about 1% and the Hang Seng index inched 0.1% higher. In Japan, the Tokyo Stock Exchange was closed for a holiday.
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S&P Notches Record High in Eight-Day Winning Streak | Fox Business


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FOX Business: Capitalism Lives Here The broad S&P 500 climbed to a fresh closing high Monday, extending its winning streak to eight days, as traders shrugged off a weak retail sales report. Today's Markets
1
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5
According to preliminary calculations, the Dow Jones Industrial Average rose 21.8 points, or 0.14%, to 15485, the S&P 500 advanced 2.4 points, or 0.14%, to 1684 and the Nasdaq Composite
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The Dow and S&P 500 both notched fresh record closing highs in a rally last week driven by hopes the Federal Reserve will keep its foot firmly on the economic accelerator for a long time to come. It extended those gains on Monday. This week was set to be a busy one as well, with several important economic reports on tap, a slew of corporate earnings out, and testimony from Fed Chairman Ben Bernanke.
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China said its economy grew at an annual pace of 7.5% in the second quarter, matching economists estimates and marking only a slight dip from the 7.7% the economy logged in the first three months of the year. "GDP growth slowed in (the second quarter), while June activity data sent mixed signals, which should help reduce concerns of a hard economic landing but leave us comfortable with our view that the growth slowdown in China will be ongoing for several quarters," Zhiwei Zhang, an economist at Nomura wrote in a note to clients. Still, the Japan-based investment bank slashed its forecast for 2014 growth to 6.9% from 7.5%. On the U.S. front, the Commerce Department said retail sales rose 0.4% in June, missing economists expectations of a 0.8% jump. Excluding the auto sector, sales were unchanged compared to expectations they would rise 0.4%. "The number one takeaway from todays report is that the consumer was a bit weaker than expected in the second quarter," Dan Greenhaus, chief global strategist at BTIG wrote in an email. "These new numbers will weigh even more on 2Q GDP but investors have already internalized a very weak report." Meanwhile, the New York Federal Reserves gauge of manufacturing activity rose to 9.46 in July from 7.84 in June, beating expectations it would fall to 5. In corporate news, Citigroup (C) revealed adjusted second-quarter earnings of $1.25 a share on revenues of $20 billion, topping expectations of $1.17 a share on $19.75 billion. Separately, analysts at Citigroup added Freeport McMoRan Copper & Gold (FCX) to their Top Picks Live list, with a sell rating and a price target of $23. In commodities, oil prices slumped 65 cents, 0.61%, to $105.31 a barrel. Wholesale New York Harbor gasoline dropped 1.5% to $3.072 a gallon. Gold rose $4.10, or 0.33%, to $1,282 a troy ounce. Foreign Markets The Euro Stoxx 50 ticked up 0.09% to 2677, the English FTSE 100 climbed 0.35% to 6568 and the German DAX gained 0.1% to 8221. In Asia, the Chinese Hang Seng drifted higher by 0.12% to 21303. The Tokyo Stock Exchange was closed for Marine Day. Follow Adam Samson on Twitter @adamsamson.
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7/15/13
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7/17/13
Sensex trims some early gains; up 78 points in late morning deals - The Hindu
Business Markets
Sensex trims some early gains; up 78 points in late morning deals

PTI
Erasing some of the early gains, the BSE benchmark Sensex was trading higher by 78 points in late morning deals on buying mainly in FMCG, power, IT and consumer durable sectors, following governments decision to relax FDI rules for a number of sectors. Telecom stocks rose after the government announced increase in FDI ceiling in the telecom services sector to 100 per cent from 74 per cent, with Idea Cellular hitting record high and Reliance Communications hitting 52week high. Reliance Communications rose 2.43 per cent to Rs 149.45 after striking 52week high of Rs 151.25 in intraday trade today. Bharti Airtel (up 1.56 per cent), Tata Teleservices (Maharashtra) (up 6.5 per cent) and MTNL (up 2.38 per cent). Gainers from other sectors were Dr Reddys Lab 1.97 per cent followed by TCS 1.52 per cent, ITC 1.46 per cent, BHEL 1.45 per cent, M&M 1.45 per cent, Tata Power 1.40 per cent, NTPC 1.22 per cent and RIL 1.10 per cent. The BSE benchmark Sensex resumed higher at 19,928.95 and firmed up further to 19,970.02. But, it declined afterwards to 19,915.11 before quoting at 19,929.14 at 1030hrs, still showing a gain of 77.91 points of 0.39 per cent from its last close. The NSE 50share Nifty also moved up by 19.90 points or 0.33 per cent to 5,975.15 at 1030hrs. Asian shares were mostly lower in their early trade on caution as twoday congressional testimony from Federal Reserve Chairman Ben Bernanke begins today. Key benchmark indices in China, Japan, Taiwan and Singapore were down 0.34 per cent to 0.58 per cent while indices in Hong Kong, South Korea and Indonesia were up 0.23 per cent to 0.81 per cent. Keywords: Sensex, BSE, Nifty, NSE, Indian stock markets, opening trade
Printable v ersion | Jul 1 8, 2 01 3 6 :53 :51 AM | http://www.thehindu.com /business/m arkets/sensex-trim s-som e-early -gains-up-7 8-points-in-late-m orningdeals/article4 9 2 3 3 2 8.ece The Hindu
www.thehindu.com/business/markets/sensex-trims-some-early-gains-up-78-points-in-late-morning-deals/article4923328.ece?css=print
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7/17/13
Stocks Tilt Higher on Dovish Bernanke Comments | Fox Business


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FOX Business: Capitalism Lives Here Wall Street climbed mildly on Wednesday as traders reacted to remarks suggesting economic developments will guide the Fed's timetable for trimming down its bond buying. Today's Markets
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The Dow Jones Industrial Average climbed 18.7 points, or 0.12%, to 15471, the S&P 500 gained 4.7 points, or 0.28%, to 1681 and the Nasdaq Composite advanced 11.5 points, or 0.32%, to 3610.
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The U.S. economy is growing at a "modest to moderate" pace across the Federal Reserves 12 districts, the central bank said in its anecdotal Beige Book report. Meanwhile, hiring activity was "measured," and price pressure remained in check. Also on the economic front, the Commerce Department reported housing starts fell 9.9% in June to an annual rate of 836,000 units, widely missing expectations of 959,000. It was also the lowest reading since August 2012. Housing permits fell 7.5% to an annual rate of 911,000 units, missing expectations of 1 million. In corporate news, Bank of America (BAC) revealed second-quarter results that beat analysts' expectations on the top and bottom lines, sending shares of the No. 2 U.S. bank by assets rising. Yahoo! (YHOO) posted mixed results after the bell on Tuesday. Earnings from American Express (AXP), IBM (IBM), Intel (INTC) and eBay (EBAY) are due out after the closing bell. Meanwhile, oil prices dipped 7 cents, or 0.06%, to $105.94 a barrel. Wholesale New York Harbor gasoline sold off by 1.2% to $3.096 a gallon. In metals, gold slumped $4.40, or 0.34%, to $1,288 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.1% to 2682, the English FTSE 100 rose 0.1% to 6563 and the German DAX gained 0.41% to 8235. In Asia, the Japanese Nikkei 225 climbed 0.11% to 14615 and the Chinese Hang Seng tilted higher by 0.28% to 21372. Follow Adam Samson on Twitter @adamsamson.
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7/18/13
Sensex retraces 20000-mark - The Hindu
Business Markets
Sensex retraces 20000-mark

HDFC Bank, Infosys and ONGC shine as realty, banking and consumer durables stocks appreciate.
PTI
Stock market indices surged on Thursday on better-than-expected corporate results, which helped banking stocks that were going down in the last few days, to recover on the back of Axis Banks first quarter results. The S&P BSE Sensex closed above the 20000-mark again with a gain of 179.68 points. Realty stocks, which were hammered in the downturn in the last few days, gained the most with 2.53 per cent followed by banks 2.04 per cent, consumer durables 1.72 per cent, PSUs 1.50 per cent, capital goods 1.49 per cent and oil & gas 1.31 per cent. All sectoral indices ended in the positive territory. On the National Stock Exchange (NSE), the 50-share Nifty closed at 6038.05 with a gain of 64.75 points. The measures taken by the government and the Reserve Bank of India (RBI) lifted sentiment and made short-sellers go for cover. Axis Bank results, which were above street expectations, too, lifted the sentiment. Niftys next resistance is at 6120 and support at 5980, said Kishor P. Ostwal, CMD, CNI Research Ltd. The markets moved up smartly after some negative concerns eroded following the measures announced by the RBI on Monday by raising short-term interest rates to stem the fall of rupee, which resulted in bond yields surging. 33 paise drop in rupee Meanwhile, the rupee depreciated further on Thursday as it closed at 59.67/68 a dollar compared to its previous close of 59.34/35. In the offshore non-deliverable forwards (NDF), the one-month contract was at 60.08 and the three-month contract was at 60.90 a dollar. The rupee has already moved into undervalued territory on a real effective exchange rate (REER) basis. Sensitive countries
www.thehindu.com/business/markets/sensex-retraces-20000mark/article4927885.ece?css=print 1/2
7/18/13
Sensex retraces 20000-mark - The Hindu
So far, the RBI has not intervened aggressively to support the rupee, said a report of Macquarie Research. Indonesia, India and to a lesser extent the Philippines, are the most sensitive countries in Asia to further outflows. In the case of India, flows to market cap seem to be close to historical highs and ongoing external account pressures and ensuing currency weakness could force foreign selling. Macquarie Research also said that any disruption globally or another round of dollar strengthening and rising treasury yields in a short span could result in rupee weakening by a further 5-7 per cent from the current levels. Keywords: Sensex, BSE, Nifty, NSE, Indian stock markets, closing trade Post Comment
Printable v ersion | Jul 1 9 , 2 01 3 4 :1 2 :3 9 AM | http://www.thehindu.com /business/m arkets/sensex-retraces-2 0000m ark/article4 9 2 7 885.ece The Hindu
www.thehindu.com/business/markets/sensex-retraces-20000mark/article4927885.ece?css=print
2/2
7/18/13
Dow, S&P 500 close at record highs, up 19% in 2013 - Jul. 18, 2013
Dow, S&P 500 at record highs, up 19% in 2013

By Hibah Yousuf @CNNMoneyInvest July 18, 2013: 4:51 PM ET
NEW YORK (CNNMoney)
Investors pushed the Dow and S&P 500 into record territory once again Thursday, as they welcomed a batch of strong earnings and a drop in jobless claims. The Dow Jones industrial average gained 78 points, or 0.5%, to end at a record closing high of 15,548.54. The S&P 500 also rose 0.6% and finished at a record closing high. Earlier, both indexes rose to fresh all-time trading highs. While the Dow and S&P 500 gained traction, the Nasdaq lagged, gaining only a handful of points for the day. The tech-heavy index was weighed down by poor performing stocks like eBay and Intel. Despite the minimal uptick, the Nasdaq still managed to close at its highest level since September 2000. All three indexes are up sharply for the year. The Dow and S&P 500 have gained nearly 19% while the Nasdaq has rallied almost 20%. (Click here for more on stocks, bonds, commodities and currencies) Healthy earnings propel stocks: IBM ( IBM, Fortune 500) shares climbed after the tech stalwart reported a 3% jump in net income for the second quarter, to $4.3 billion, excluding special charges. IBM also raised its outlook for the year. The company's stock was among the top performers in the Dow Thursday. Shares of Morgan Stanley ( MS, Fortune 500) jumped after the financial firm reported a quarterly profit in line with estimates, though revenue beat forecasts. Shares of rival banks including Bank of America ( BAC, Fortune 500), JPMorgan Chase ( JPM, Fortune 500) and Goldman Sachs ( GS, Fortune 500) also increased sharply. UnitedHealth Group ( UNH, Fortune 500) also reported earnings above forecasts and improved its outlook. Shares of the insurance giant were among the the best performing in the S&P 500. "A lot of these earnings are stepping over an extremely low bar, but still stepping over the bar, which is reason for some optimism," said Kim Forrest, senior equity analyst at Fort Pitt Capital Group.
Related: Fear & Greed Index, still greedy
In other earnings news, Verizon (
VZ, Fortune 500) reported a 21% jump in quarterly net income from a year earlier. But shares
1/3
7/18/13
Dow, S&P 500 close at record highs, up 19% in 2013 - Jul. 18, 2013
of the company dipped due to a worse-than-expected wireless service profit margin. Nokia's ( earlier. NOK) stock price dropped after the Finnish phone maker reported a 24% plunge in quarterly sales from a year
Late Wednesday, Intel ( INTC, Fortune 500) reported second-quarter profits that fell 29% versus a year prior, sending shares lower. The company also said it expects revenue to be flat this year, after previously forecasting a modest increase. eBay ( EBAY, Fortune 500) shares dropped 7% after the online auction site offered third quarter projections below analysts' expectations. After the closing bell Thursday, both Google ( GOOG, Fortune 500) and Microsoft ( than-expected earnings results, sending shares sharply lower in after-hours trading. MSFT, Fortune 500) delivered worse-
Death of the PC claims more victims

Aside from earnings, Dell ( DELL, Fortune 500) shares rose during the trading day Thursday after the company postponed the final vote on its pending $24.4 billion buyout offer from founder Michael Dell and private equity firm Silver Lake in an effort to "solicit further shareholder votes," according to comments made by special committee member Alex Mandl. Shares of Boeing ( BA, Fortune 500) rose, recovering from last week's slide following the 787 Dreamliner fire at London's Heathrow Airport. Investors were relieved after Boeing said that it could remove the emergency locator beacon that British regulators identified as the most likely origin of the fire.
Related: Favorite stocks of high speed traders
Jobless claims drop: Initial jobless claims declined more than expected to 334,000 for the week ended July 13, the lowest level since early May. Claims were expected to drop to 348,000, according to Briefing.com's consensus of economist forecasts. The four-week moving average, which smooths out some of the volatility in the weekly reading, also declined slightly. Over the past few months, it's been hovering near levels not seen since 2008. Investors were also encouraged by a separate report that showed manufacturing activity in the Mid-Atlantic region expanded at a faster pace than analysts projected. Bernanke: Bernanke appeared before the Senate Banking Committee Thursday. He testified before the House Financial Services Committee on Wednesday, reiterating that the Fed will keep its stimulus policies in place for as long as necessary.
-- Additional reporting by Katie Lobosco and Wenqian Zhu.
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Wall Street Climbs into Uncharted Territory | Fox Business

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The Dow and S&P 500 climbed to fresh record highs on Thursday as traders responded to encouraging economic data, corporate reports, and Fed commentary. Today's Markets
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Average climbed 76.7 point, or 0.49%, to 15546, the S&P 500 gained 8.2 points, or 0.49%, to 1689 and the Nasdaq Composite rose 0.23 point, or 0.00%, to 3610. It was a busy day for Wall Street, with several high-profile firms report second-quarter earnings and two key data reports out.
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On the economic front, the Labor Department said claims for first-time jobless benefits fell to 334,000 from a downwardly revised 358,000. Economists expected claims to fall to 345,000 from an initially reported 360,000. The Philadelphia Federal Reserves measure of manufacturing in the U.S. mid-Atlantic region jumped to 19.8 in July from 12.5 in June, beating expectations it would fall to 7.8.
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Morgan Stanley (MS), the investment-banking heavyweight, posted profits and revenues that topped Wall Street's expectations. Verizon Communications (VZ) weighed in with a beat on the bottom line pared with top-line results that matched analysts' expectations. UnitedHealth (UNH), the blue-chip health insurer, also posted betterthan-expected profits, but sales came in shy of estimates. Federal Reserve Chairman Ben Bernanke told the Senate Banking Committee that the central bank will "normalize" its monetary policy in three steps. The first step involves tapering its bond purchases, then the Fed will analyze incoming economic data, and then, finally, it will begin hiking interest rates from historically low levels. In commodities, oil prices fell 7 cents, or 0.07%, to $106.41 a barrel. Wholesale New York Harbor gasoline dipped 0.84% to $3.084 a gallon. Gold climbed $3.40, or 0.27%, to $1,282 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.09% to 2684, the English FTSE 100 gained 0.36% to 6595 and the German DAX fell 0.06% to 8250. In Asia, the Japanese Nikkei 225 rallied 1.3% to 14809 and the Chinese Hang Seng tilted lower by 0.12% to 21345. Follow Adam Samson on Twitter @adamsamson.
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Sensex surges on Asian cues - The Hindu
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Sensex surges on Asian cues

The S&P BSE Sensex surged to its highest close in two-and-a-half years as investors shifted to defensive stocks such as consumer durables in an uncertain economic environment where current account deficit remains high and the rupee continues to rule weak against the dollar. The BSE 30-share sensitive index, Sensex, closed at 20302.13 with a gain of 143.01 points. Stocks of consumer durables gained the most with 3.85 per cent followed by fast moving consumer goods (FMCG) 1.53 per cent, realty 1.42 per cent and banks 1.29 per cent. All sectoral indices ended in the positive territory. Investors are worried about the move of the Reserve Bank of India (RBI) in the forthcoming policy review. However, they are comfortable with RBIs further restrictions on gold imports as it would help bring down the widening current account deficit. Among the broader indices, BSE 100 gained 0.71 per cent, BSE 200 0.64 per cent and BSE 500 0.59 per cent. The BSEs mid-cap stocks gained 0.06 per cent, but small cap was down 0.10 per cent. On the National Stock Exchange (NSE), the Nifty closed at 6077.80 with a gain of 46 points. Ahead of expiry of Futures & Options we saw selective buying in banking, FMCG and information technology stocks. The mood is cautiously optimistic and the cues we are getting from Asian markets and Japanese are positive. It helped the market enter a new orbit above 6000 level, said Alex Mathews, Research Head, Geojit BNP Paribas. We may see the market moving to the 6180 level in the near future, Mr. Mathews added. Rupee drops 4 paise The rupee was trading in a narrow range. Even the weakness in the value of dollar in international markets could not
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Sensex surges on Asian cues - The Hindu
help the rupee, said Mr. Mathews. The rupee closed at 59.76/77 a dollar compared with its previous close of 59.72/73. It touched an intra-day low of 59.87. Keywords: Sensex, BSE, NSE, Nifty, stock market, closing trade Post Comment
Printable v ersion | Jul 2 4 , 2 01 3 1 1 :4 7 :3 5 AM | http://www.thehindu.com /business/m arkets/sensex-surges-on-asian-cues/article4 9 4 52 2 2 .ece The Hindu
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S&P Falls From Record High; United Tech Lifts Dow | Fox Business

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FOX Business: Capitalism Lives Here The broad S&P 500 fell from record highs on Tuesday, but rallying United Technologies shares lifted the blue-chip average. Today's Markets
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According to preliminary calculations, the Dow Jones Industrial Average climbed 22.6 points, or 0.15%, to 15568, the S&P 500 dipped 3.1 points, or 0.18%, to 1692 and the Nasdaq Composite declined 21.1 points, or 0.59%, to 3579.
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Ahead of the start of trading in New York, DuPont (DP) revealed slightly better-than-expected bottom-line results, but disappointing sales figures. The biggest U.S. chemical company said it could sell its paint pigment business as it looks to lean itself out.
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Apple (AAPL), the world's biggest technology company, takes the wraps off its results after the closing bell. Telecom behemoth AT&T (T) is also out with its latest figures. The economic calendar is bare on the day. However, it fills up later in the week with housing, manufacturing and consumer sentiment reports all on tap. Commodity markets were broadly lower. The benchmark U.S. crude oil contract dipped 72 cents, or 0.67%, to $106.22 a barrel. Wholesale New York Harbor gasoline fell 0.65% to $3.035 a gallon. In metals, gold slumped $9.20, or 0.69%, to $1,328 a troy ounce. Foreign Markets The Euro Stoxx 50 climbed 0.52% to 2739, the English FTSE 100 rose 0.26% to 6640 and the German DAX gained 0.25% to 8352. In Asia, the Japanese Nikkei 225 jumped 0.82% to 14779 and the Chinese Hang Seng soared 2.3% to 21915. Follow Adam Samson on Twitter @adamsamson.
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Dow ekes out another record high - Jul. 23, 2013
Dow ekes out another record high

NEW YORK (CNNMoney)
The Dow was able to notch another record high Tuesday, but the broader market was mixed as investors weighed the latest corporate results against a weak regional manufacturing report. The Dow Jones industrial average gained nearly 0.2%, ending at an all-time high of 15,568. The S&P 500 fell 0.2%, after earlier touching a new record high and coming within a few points of 1,700. The Nasdaq fell 0.6%. Stocks opened broadly higher as investors focused on solid corporate reports, but the momentum faded after an index of June manufacturing activity from the Federal Reserve Bank of Richmond plunged 11 points. After a pullback in June, stocks have resumed their march higher this month. So far this year, the major indexes are all up about 19%. Stocks are being underpinned by expectations that the Federal Reserve will continue to keep the market awash in liquidity, said Doug Roberts, chief market strategist at Channel Capital Research. Fed chairman Ben Bernanke told lawmakers last week that there is no "preset course" for the central bank's $85 billion-permonth bond buying program. "Bernanke is the 900 lb. gorilla in the room," said Roberts. "As long as he keeps pumping money, then the risk trade is still in effect."
Earnings parade: Nearly 160 companies in the S&P 500 are slated to report quarterly results this week. So far, the bulk of the reports have matched or topped analysts' low expectations. "Earnings will continue to dominate the news the next two weeks," said David Brown, chief market strategist at Sabrient Systems. He said weak results last week from Microsoft ( MSFT, Fortune 500), Google ( GOOG, Fortune 500) and Intel ( INTC, Fortune 500) have "put a pox on the technology sector." Apple ( AAPL, Fortune 500) bucked the trend. After the market closed, Apple said it earned $6.9 billion, or $7.47 per share, on sales of $35.3 billion in the company's third quarter. Compared with last year, earnings were down nearly 20%.
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Dow ekes out another record high - Jul. 23, 2013
Still, Apple's results were better than expected. Analysts had predicted earnings of $7.32 and $35 billion in revenue, according to estimates from Thomson Reuters. Apple shares gained about 0.5% in extended trading after ending the day down 1.7%. Also after the market closed, AT&T ( lower. T, Fortune 500) reported earnings that missed estimates by one penny. Shares edged
Among the companies that reported Tuesday morning, earnings were better than feared, but revenue growth was generally tepid. UPS ( UPS, Fortune 500) reported earnings in line with its preliminary expectations. The packing and shipping company said volume in the U.S. and internationally grew, even as revenue came in slightly below forecasts.
UPS' weak report no surprise

Shares of United Technologies ( year. UTX, Fortune 500) were up after the aerospace supplier raised its earnings outlook for the
DuPont ( DD, Fortune 500) reported earnings that beat forecasts but revenue fell short, which the company blamed on slipping chemical sales and economic headwinds in Europe and Asia. Travelers ( TRV, Fortune 500) reported a boost in quarterly profit, citing "lower catastrophe losses."
Texas Instruments ( TXN, Fortune 500) shares rose after the semiconductor maker reported quarterly earnings that came in ahead of expectations. Lockheed Martin ( Wendy's ( LMT, Fortune 500) said net income rose 10% in the second quarter, despite a 4% drop in revenue.
WEN) reported better-than-expected earnings and announced plans to sell 425 company-owned restaurants.
Netflix ( quarter.
NFLX) shares sank one day after the streaming-video service added fewer subscribers than expected in the second FIRE) for $2.7 billion.
Meanwhile, Cisco ( CSCO, Fortune 500) announced plans to buy cybersecurity company Sourcefire ( (Cybersecurity stocks rally)
Shares of TheStreet ( TST) briefly rose above $2 after CNNMoney reported that private equity firm Spear Point is pushing for a sale of the company, and has positioned itself as a bidder. World markets: European markets reversed course late in the day and ended lower, while Asian markets ended with gains.
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Historic market rise underway- MSN Money

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Historic market rise underway
The recent string of consistent gains is a rare event not seen in nearly 20 years.
By Anthony Mirhaydari 12 hours ago
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STOCK SCOUTER StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.
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The stock market's performance this month has been one for the record books. After May's overenthusiasm, a two-month 6.4% pullback into June's low was all it took to recharge the batteries, clear out extreme sentiment, and clear the way for a run to new all-time highs. Professional traders loaded up in late June, piling into futures and options contracts that would pay big as the Dow Jones Industrial Average marched towards the 16,000 level and the S&P 500 charged towards 1,700. Since June 25, the S&P 500 has moved higher 16 out of 19 sessions for a gain of nearly 8%. The two most recent losses were less than 0.4%. Not only have the price gains been consistent, there has been broad participation. Add it all up, and the evidence suggests the gains will continue. Returning to price, the folks at SentimenTrader note that the last time stocks posted such a consistent string of gains was back in 1995 (in March and again in September of that year). Six months later, the market was up another 13% on average. A year later, the average gain was more than 22%. The performance was more mixed for examples in the 1960s and 1970s. So it's not a slam dunk analogue.
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Thanks to strong iPhone sales, earnings top estimates but are down nearly 20% from a year ago. The company promises new products in the fall and 2014. How to separate the 'buys' from the 'sells' Historic market rise underway Rupert Murdoch's next game-changing gamble Stealth rallies for emerging markets ETFs Has Netflix's content strategy failed? Midday movers: Sourcefire, Altria, Travelers
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As for breadth, performance after a surge like we've seen has historically been more consistently positive. Since 1950, there have been 20 occurrences where market breadth has been as strong as it was in early July. In all 20, stocks were higher a year later by an average of 22%. Now, to be clear, this is just looking at the market. The economy has its own issues. There are still unresolved structural issues with the government's finances, long-term entitlement obligations, the infrastructure deficit, the hollowing out of the middle class, overreliance on cheap money stimulus, and on and on. What happened in June?
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Historic market rise underway- MSN Money
But for now at least, Dow 16,000 and S&P 1,700 look achievable before the fiscal fights return to Washington in September. Right now, an area of great potential are metals and mining stocks, represented by the Metals & Mining SPDR (XME +2.61%). With cyclical, economically-sensiti ve stocks enjoying a surge of buying pressure, the XME is breaking up and out of a long multi-month downtrend.
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ABOUT Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web. Contributors include professional investors and journalists affiliated with MSN Money. Follow us on Twitter @topstocksmsn.
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Digging into the sector, steelmakers -- which have been heavily shorted -- are popping up in a big way. Stocks like Cliffs Natural Resources (CLF +4.13%), U.S. Steel (X +4.38%), and AKSteel (AKS +3.79%) are or look ready to burst out of consolidation patterns on a flurry of frantic short covering. More than 36% of CLF's stock floatation has been sold short. It's 32% for X. And it's 28% for AKS. I'm adding CLF, X, and AKS to my Edge Letter Sample Portfolio.
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Wall Street Tilts Higher After Choppy Day | Fox Business


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Wall Street Tilts Higher After Choppy Day


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FOX Business: Capitalism Lives Here The markets pushed higher on Thursday after a bumpy trading day as market participants took stock of mixed data and corporate earnings. Today's Markets The Dow Jones Industrial Average advanced 13.4 points, or 0.09%, to 15556, the S&P 500 rose 4.3 points, or 0.26%, to 1690 and the Nasdaq Composite climbed 25.6 points, or 0.71%, to 3605.
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With the broad-market averages sitting near record highs, and the month near its end, market participants pointed to portfolio
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adjustments as the driver behind the mild losses early in the day that eventually faded.
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"I dont see this as a fundamental move," said Rhino Trading Partners Chief Strategist Michael Block. "This is profit taking, reallocation, a breather." Block also said traders were gearing up for major events in coming weeks, including the monthly jobs report and a key reading on the manufacturing sector.
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Still, traders had no lack of information to parse through on the day. Facebook (FB) revealed quarterly results that handily topped Wall Street expectations after the bell Wednesday. Meanwhile, Visa (V) also posted a quarterly beat, while Qualcomm's (QCOM) profits matched estimates. 3M (MMM) posted earnings that narrowly beat expectations ahead of the open in New York. Meanwhile, on the economic front, report is a lagging indicator, but it figures into second-quarter gross domestic product estimates. A separate report from the Labor Department showed the number of people filing for first-time jobless benefits last week rose to 343,000 from an upwardly revised 336,000 the week prior. Economists expected the number to rise to 340,000 from an initially reported 334,000. The labor market has been showing signs of improvement, but the rate of recovery has been stubbornly slow. Commodity markets were broadly lower. The benchmark U.S. crude oil contract dipped 52 cents, or 0.49%, to $104.87 a barrel. Wholesale New York Harbor gasoline fell 0.87% to $3.028 a gallon. In metals, gold ticked lower by 0.05% to $1,319 a troy ounce. Foreign Markets The Euro Stoxx 50 fell 0.74% to 2732, the English FTSE 100 dropped 0.84% to 6565 and the German DAX skidded 0.86% to 8307. In Asia, the Japanese Nikkei 225 sold off by 1.1% to 14563 and the Chinese Hang Seng slumped 0.31% to 21901. Follow Adam Samson on Twitter @adamsamson.
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Stocks step back from record highs - Jul. 26, 2013
Stocks claw back in final minutes

NEW YORK (CNNMoney)
Wall Street staged a comeback Friday: U.S. stocks inched higher in the final minutes of trading after being down sharply earlier in the day. After being down more than 150 points in the morning, the Dow Jones industrial average ended the day with a gain of 3 points. That was just enough for the index to end higher for a fifth week. The S&P 500 added 1 point, closing just below its all-time high. For the week, however, the S&P ended basically unchanged. The Nasdaq gained 8 points for the day, and nearly 1% for the week. After a pullback in June, stocks hit record highs this month as Chairman Ben Bernanke and other Fed officials downplayed concerns about the central bank's $85 billion-per-month bond buying program. This week, investors sifted through a slew of reports on corporate earnings and rewarded companies that beat expectations. But the tone was cautious Friday as investors looked ahead to next week's meeting of top Fed officials and the government's monthly jobs report. "Investors are taking profits now and waiting to see how next week shakes out," said J.J. Kinahan, chief derivatives strategist at TD Ameritrade. "Why take unnecessary risk heading into it?"
Earnings are a mixed bag: Tech shares have been the biggest drivers this week, boosted by strong earnings from Apple ( AAPL, Fortune 500) and Facebook ( FB). But weak results from Amazon ( AMZN, Fortune 500) and Expedia ( EXPE) put pressure on the sector Friday. Expedia shares plunged after the online travel company plunged 24% on a worse-than-expected earnings report. Amazon shares were lower after the online retailer posted a surprise loss. And Zynga's ( ZNGA) stock sank after the online gaming company issued a weak outlook for the third quarter and said it's not going to pursue online gambling in the United States.
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But the losses were offset by shares of Activision Blizzard ( ATVI), which surged more than 21% after the maker of games such as World of Warcraft and Call of Duty said it was striking out on its own through an $8.2 billion deal.
Starbucks reports best quarter ever

Starbucks ( sales. SBUX, Fortune 500) shares rose after the coffee merchant delivered better-than-expected quarterly earnings and
Halliburton ( HAL, Fortune 500) stock rose nearly 4% after the Justice Department said the oilfield services firm would plead guilty to destroying computer test results that had been sought as evidence in the Deepwater Horizon disaster. Tesla Motors ( TSLA) shares gained after Deutsche Ban ( DB)k upgraded the electric car maker. XOM, Fortune 500) and Chevron ( CVX,
Among the companies scheduled to report next week are energy giants Exxon ( Fortune 500).
More than half of the companies in the S&P 500 have reported results for the second quarter, with 66% of them topping analysts expectations, according to S&P Capital IQ. Earnings growth has been strongest in the financial and consumer discretionary sectors, while materials and telecommunications companies have seen profits decline. In economic news, the University of Michigan and Thomson Reuters said a key measure of consumer sentiment rose to 85.1 in July, the highest level in six years.
Related: What's next for SAC?
Overseas markets: European markets ended mostly lower, though shares of Pearson ( the companies posting better-than-expected earnings.
PSO) and LVMH (
LVMHF) rose after
In Asia, Japan's benchmark Nikkei index fell by 3% as the yen strengthened. Japan's inflation turned positive for the first time in a year, a sign that Abenomics is taking hold. The performance on Chinese indexes was more muted. Hong Kong's Hang Seng index rose by 0.2% and the Shanghai Composite index declined by 0.5%.
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Wall Street Cheers Signs of Economic Growth | Fox Business


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Wall Street Cheers Signs of Economic Growth

By Adam Samson / Pub lished August 01, 2013 / FOXBusiness

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FOX Business: Capitalism Lives Here Emerging evidence the world economy is picking up steam sent traders rushing into stocks and commodities on Wednesday. Todays Markets According to preliminary calculations, the Dow Jones Industrial Average soared 126 points, or 0.81%, to 15625, the S&P 500 jumped 21.1 points, or 1.3%, to 1707 and the Nasdaq Composite
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The rally carried the broad S&P 500 up past the 1700 mark for the first time ever. The narrower Dow also hit fresh record highs.
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The Federal Reserve said on Wednesday it would hold interest rates at record lows, and continue buying bonds at a rate of $85 billion a month. The move was followed Thursday morning by the European Central Bank and Bank of England also keeping benchmark rates at a historic lows.
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The move comes amid a backdrop of modest improvement for the world economy. Chinas official PMI report showed the pace of expansion in the manufacturing sector there picking up just slightly in
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July, with the gauge rising to 50.3 from 50.1. However, a private survey from HSBC indicated the factory sector in the worlds No. 2 economy contracted at an even quicker gate in July than the month prior. The metric slumped to 47.7 from 48.2. The Institute for Supply Managements PMI gauge jumped to 55.4 in July from 50.9 in June, beating estimates of 52. Readings above 50 point to expansion, while those below indicate contraction. "This can probably be called a 'blow out' number," said Dan Greenhaus, chief global strategist at BTIG. "For manufacturing, the third quarter started on strong footing." The Labor Department said claims for first-time jobless benefits fell to 326,000 from an upwardly revised 345,000 the week prior. Economists expected claims to rise to 345,000 from an initially reported 343,000. The data come out ahead of the all-important monthly jobs report on Friday. Analysts are expecting continued, but slow, job growth for the worlds biggest economy. On the corporate front, ExxonMobil (XOM) revealed second-quarter profits that were well under expectations, paired with slightly betterthan-expected revenues. Shares of the worlds biggest publicly-traded energy company came under pressure. Procter & Gamble (PG), the consumer products giant, unveiled quarterly results that topped the Streets estimates. Meanwhile, the Big Three U.S. automakers posted solid, double-digit July sales increases. Shares of Ford (F) and General Motors (GM) both revved up by more than 1% on the day. Elsewhere, U.S. crude oil futures zipped higher by $2.86, or 2.7%, to $107.89 a barrel. Wholesale New York Harbor gasoline jumped 1% to $3.028 a gallon. In metals, gold fell $1.80, or 0.14%, $1,311 a troy ounce. Follow Adam Samson on Twitter @adamsamson.
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S&P 500 Dow close at new highs- MSN Money

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S&P 500, Dow close at new highs
But the market is beginning to look overbought as oil prices and interest rates are on the move again. Google, Apple and Facebook boost the Nasdaq.
By Charley Blaine 3 hours ago
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STOCK SCOUTER StockScouter rates stocks from 1 to 10, with 10 being the best, using a system of advanced mathematics to determine a stock's expected risk and return. Ratings are displayed on a bell curve, meaning there will be fewer ratings of 1 and 10 and far more of 4 through 7.
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Let's all cheer for the stock market's performance Thursday -- because, as good as the rally was, the market is starting to look toppy. Yes, the Standard & Poor's 500 Index ($INX) topped 1,700 for the first time ever. The Dow Jones Industrial Average ($INDU +0.83%) finished at a new high, with its best daily performance in more than three weeks. Facebook (FB +1.87%) traded above its $38 IPO price for much of the day, but faded in late trading. Yelp (YELP +23.21%) jumped 23%. Fueling the rally were the Federal Reserve's signal on Wednesday, that it's not planning to push interest rates higher any time soon, and decent news Thursday on jobless claims and auto sales. In addition, the Institute for Supply Management's U.S. manufacturing index expanded at the fastest pace in two years in July, and Chinas Purchasing Managers Index beat expectations. But a number of technical and fundamental indicators are suggesting a short-term break is coming, including rising interest rates, oil prices and retail gasoline prices. Moreover, Thursday's good vibrations could dissipate if Friday's jobs report disappoints. If a pullback materializes -- August can sometimes start one -- it's not clear if a slippage will turn into something worse. That probably will depend on two things: the economy and how the Federal Reserve reacts to it. The Dow closed up 128 points to 15,628 -- a new closing high. Its high of 15,650.69 was an intraday high. The S&P 500 was up 21 points to 1,707, near its high for the day (and all-time intraday high) or 1,707.85. It's been flirting with the 1,700 level for nearly two weeks. Wednesday's high was 1,698.43. The Nasdaq Composite Index ($COMPX +1.36%) had jumped 49 points to 3,676, after hitting an intraday high of 3,674.13. Thursday's close was the best for the index since Sept. 28, 2000. Thank Google (GOOG +1.86%), which topped $900 for the first time since July 24; Apple (AAPL +0.92%), up $2.78 to $455.31 and up 9% since its July 23 earnings report; and Facebook. The rally was in fact quite broad: 24 of the 30 Dow stocks were higher, along with about 440 S&P 500 stocks and 86 stocks in the Nasdaq-100 Index ($NDX +1.17%). The index was up 36 points to 3,126. The consensus for Friday's job report is an unemployment rate of 7.6% in July, unchanged from June, and possibly 200,000 job gains. Here are the headwinds that are building up: Oil prices are rising. Crude oil (-CL) in New York was up $2.64 to $107.67, its biggest percentage gain since July 10. Brent crude had gained $1.78 to $109.48. The 1.7% gain was the biggest since May 2. Interest rates are higher. The 10-year Treasury yield was at 2.695%, up from 2.593% on Wednesday and 1.6% in May. The Fed has said it
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Stock pick: Yamana Gold

It's too early to buy except as a trade, but the company is doing what a gold miner should be doing now. It's time to buy this iconic American stock Can the rally continue? S&P 500, Dow close at new highs Court rules in favor of retailers on debit card fee cap Yelp garners rave reviews Stocks set record as economy reaccelerates
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plans to keep its key federal funds rate at ultra-low levels, but the bond market controls longer-term rates. When the Fed starts to taper -- or trim -- its monthly bond purchases, it's not clear how the bond market will react. A quick runup in interest rates could stall a lot of economic activity. Momentum indexes suggest stocks are nearing overbought levels. The most important on Thursday was the MACD divergence line for the S&P 500. It dropped below zero on Thursday, typically a sell signal. The headwinds are building, suggesting -- but not guaranteeing -- that a pullback is coming. The market rally overall was fueled by industrial, financial and consumer discretionary stocks. Natural gas producer Pioneer Natural Resources (PXD +12.53%) has been the big winner among S&P 500 stocks, up $20.29 to $175.15. It's as big player in natural gas production in shale regions. Chesapeake Energy (CHK +7.08%) was the third best performer. American Express (AXP +2.52%) and Bank of America (BAC +2.40%) are the best performers among the 30 Dow stocks. Caterpillar (CAT +1.85%) and Boeing (BA +1.52%) were also higher. Exxon Mobil (XOM -1.09%) was the laggard, after reporting the worst quarterly profits since 2010. More from Top Stocks 2 ways to win for Yelp Google shakes it up with Chromecast Court rules in favor of retailers on debit card fee cap
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ABOUT Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web. Contributors include professional investors and journalists affiliated with MSN Money. Follow us on Twitter @topstocksmsn.
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3 step plan for efficiently turning savings into income: http://t.co/OpezRaQofl

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Brutus625
2 hours ago
Fidelity Charitable donors surpass $1B in grants in 2013, $15B since inception: http://t.co/MBt8lJVDii Thanks to all who give!
7:11 AM Jul 31st
Here's an interesting exercise. Look up the S&P 500 index quote ($INX) on this very website. Click on the chart and reset it for "max". From 1950-1980, the growth of the S&P looks completely normal. After that, it all looks too big and too fake. What happened in 1985 that caused the first quick run-up, where the index doubled in a matter of 32 months? Wasn't that around the time the Fed started really screwing around with interest rates to make our GDP numbers and other economic indicators look really good? Wasn't that also around the same time 401k plans were implemented? Then, in 1995, things really took off - why? NAFTA? Greenspan? When you look at this index in totality, over the last 63 years, it is very obvious that something is wrong, and that something unnatural is taking place. And all of you index fund investors, who More 20 3 Replies (2)
Follow @Fidelity on Twitter Important information about Fidelity Investments tweets
CBS exec says Cote de Pablo w as determ ined t
New Lewinsky tape
jay60
2 hours ago
As the wall street fat cats and mega banks get fed fatter by their dope pusher, ben butski, their favorite tool in the closet. next they will redo gdp to make it go higher and the market will take off again. bubble bubble who got dee bubble ?. 15 4 Replies (1)
'Hum an Barbie' Valeria Agency says JPMorgan Lukyanova stars in docu m anipulated pow er prices
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V_L
2 hours ago
There isn't one single report most of America can look out their window and validate the data by. The FACT is, that there was a printing festival today all over the world. Too bad crap-reporters like YOU, Charley Blaine, don't produce articles that point out all the brewing storms and obvious harm all this financial tyranny and bank buffoonery is doing. Instead of anchoring commonsense to the Earth and working cooperatively on genuine sustaining solutions, we let ancient rich people with drug & alcohol warped brains drive us to ruin by buying our political system and stacking the election deck with dicks and psychopaths. YOU, Charley Blaine... will regret your lack of backbone in your lifetime.
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21 11 Replies (0)
Rumblebee15
2 hours ago
If the economy is soooo great....why are soooo many cities/states talking of bankruptcy? Wake up America... 13 4 Replies (2)
DrtyRotnS0B
59 minutes ago
When the fed pulls out of the market it will be a rude awakening for everybody and I mean everybody. What ever the fed touches it turns it to crap, there is nothing that government does or has done that isn't left to ruin. 7 1 Replies (1)
happydaysboy Screw stocks, I found 2 bricks of 22LR rounds today. I'm rich!!!! 6 0 Replies (0)
1 hour ago
u.s patriot
43 minutes ago
Well said Romblebee and L_V! you're both 100% right. It's going to get ugly! Americans are not hurting enough yet, to pay attention to the most corrupt govt. in our lifetime, but they will, and soon. And I'm referring to both parties that are now one. Their intent is to collapse our economy, they have a much bigger agenda to fulfill! 5 1 Replies (0)
Someone Wall Street keeps going up and up. 2 0 Replies (0)
1 hour ago
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Nothing 'modest' or 'moderate' about market rally - The Buzz - Investment and Stock Market News
Nothing 'modest' or 'moderate' about market rally

By Paul R. La Monica August 1, 2013: 12:42 PM ET
The S&P 500 is at its highest level ever as investors actually celebrate good economic news. Imagine that. The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, Abbott Laboratories and AbbVie, La Monica does not own positions in any individual stocks. It looks like investors have gotten over their silly worries about which M-word the Federal Reserve used to describe the economy. The central bank said that growth now looked "modest" as opposed to "moderate." Stocks finished Wednesday mixed (another M-word!) as traders debated this subtle (although I would call it meaningless ... M!) change in the Fed's statement. Related: Fed signals cautious optimism about economy But Wall Street went back into rally mode Thursday. The S&P 500 topped the 1,700 level for the first time ever, and the Dow also hit a new all-time high. If you're looking for a word beginning with M to describe this seemingly never-ending bull market, it's not modest or moderate. Try magnificent. Or marvelous. Or monumental. Mind-blowing, even.
buzz.money.cnn.com/2013/08/01/stock-market-rally/?iid=HP_LN
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Can stocks keep heading higher? Even with the Dow and S&P 500 up nearly 20% this year, several fund managers are still bullish. Here's why. Sure, the Fed may finally start cutting back, or tapering, its bond buying program as soon as September. But it seems investors now realize that the beginning of the end of QE is not the beginning of the end of the bull market. As long as the Fed is only considering tapering because the job market is getting better, housing prices are heading higher and the manufacturing sector is getting healthier, then what's the problem? Good macro news is good for the market. "The most important thing is the economy," said Russell Croft, co-manager of the Croft Value Fund (CLVFX) in Baltimore. "We hate days when the economic numbers are strong and the market goes down because of concerns about the Fed. We want to see the unemployment rate going lower." Interestingly, Thursday's rally did seem to be led by several bits of good economic news. Jobless claims are at a 5-year low. The ISM manufacturing index came in much higher than expected. And consumers are spending on cars and trucks. GM (GM), Ford (F) and Toyota (TM) all reported very strong sales gains for July. Related: Economy pulls through federal budget cuts Croft said that with this in mind, he is still finding stocks to buy at decent valuations. In particular, he's a fan of stocks that can benefit from the housing rebound. He owns builder Lennar (LEN) and timber companies Weyerhaeuser (WY) and Plum Creek (PCL). Marty Leclerc, chief investment officer with Barrack Yard Advisors, an investment firm in Bryn Mawr, Pa., also thinks the market can keep ralliyng. But he's a little wary. "Confidence has definitely returned to the markets. It's almost impossible to imagine stocks going down from here. But risks are elevated," he said. Leclerc thinks that stocks in the U.S., while not absurdly expensive, are not as cheap as other international markets. He thinks Europe looks attractive and thinks that the worst may be over for the eurozone economy. He said one of his top stock picks is British-based Big Pharma company AstraZeneca (AZN). Related: The stock market in Wonderland Still, Leclerc isn't completely shying away from American stocks. He just thinks that investors need to be even more conscious of valuations than ever and should avoid stocks that may have run up too far too fast. He likes Mosaic (MOS), the fertilizer stock that plunged earlier this week on concerns of lower potash prices. He thinks the sell-off was overdone.
Fertilizer stocks hit the fan

Leclerc also recommends IBM (IBM), which has trailed the broader market this year despite solid revenue and earnings growth, and a steady dividend. Mosaic trades for less than 8 times 2014 earnings estimates while Big Blue is valued at only about 10 times profit forecasts for next year.
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"We're still buying stocks that have lagged. If this bull is for real, there will be a rotation to some of those out-of-favor stocks," he argued. "You always want to go to where the value is." Croft agrees. He said that investors shouldn't necessarily chase performance. But he also points out that a lot of cash may still be on the sidelines. Even though stocks have been in rally mode since the market bottomed in March 2009, many individual investors had continued to put money into bond funds. With the yield on the 10-year Treasury now around 2.7% -- near its 52-week high -- investors may look to sell more bonds and shift back into stocks. "There were tons of outflows from stocks before this year. People may still be just nibbling at the market," Croft said. So even if the bull is getting tired, he may not be ready to rest just yet. But again, it all depends on the economy. Friday's jobs report will be a big test for the market. If more jobs are added than expected and the unemployment rate goes down, hopefully the market will celebrate ... even if it means that the Fed will be one step closer to finally unwinding QE. Reader Comments of the Week! I love me some pop culture. Two Twitter followers win this coveted (#sarcasm) honor for paying homage to one of the most quotable TV shows and movies ever. I tweeted earlier this week about how Tim Cook's job was now probably safe since Apple's (AAPL) stock was back over $450. But I quickly added that this was a joke. Cook probably has nothing to worry about since nobody related to The Boss (as in the late owner of the Yankees, not Bruce Springsteen) is an Apple board member. That prompted this awesome Seinfeld reference.
Paul R. La Monica
@LaMonicaBuzz 30 Jul $AAPL above $450. Tim Cook off the hot seat? Was he ever really on the hot seat? Probably not unless there's a Steinbrenner on $AAPL board.
Kevin K.
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@LaMonicaBuzz Nothing a hot calzone couldn't fix!

9:45 AM - 30 Jul 2013 1 RETWEET
Costanza's in the building! The other RCOTW winner gets the nod for knowing his Coen brothers. After noting that IHOP-owner DineEquity (DIN) was surging on strong earnings, I asked Twitter followers earlier this week to name the movie that has this line. "We stop at pancakes house." The answer is Fargo. But one reader did something clever. He quoted me back another line from another Coen classic ... by the same actor.
Paul R. La Monica
@LaMonicaBuzz 30 Jul We stop at pancakes house. Name that movie for Buzz shout-out! Easy! Strong earnings from IHOP and Applebee's owner DineEquity. $DIN up 10%.
Peter Viles
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@LaMonicaBuzz lebowski. We takes the money!

11:32 AM - 30 Jul 2013 1 RETWEET
Beware of those nihilists! Is there a Peter Stormare fan club?
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S&P 500 tops 1,700 for first time - Aug. 1, 2013
S&P 500 tops 1,700 for first time

By Hibah Yousuf @CNNMoneyInvest August 1, 2013: 4:40 PM ET
NEW YORK (CNNMoney)
Welcome to August! The Dow and S&P 500 rallied to new highs straight out of the gate Thursday and never looked back. The S&P 500 climbed 1.3% and closed above 1,700 for the first time ever, while the Dow Jones industrial average advanced 0.8% to a record high. The Nasdaq gained 1.4% to end at its highest level in almost 13 years.
Economic data gives a boost: Stocks have been driven by positive economic news this week, and Thursday was no different. The Labor Department reported the number of Americans filing first-time claims for unemployment benefits fell to a five-year low. That's good news ahead of the government's monthly jobs report, due Friday. Economists surveyed by CNNMoney expect the economy will have added 180,000 jobs in July, and that the unemployment rate will have ticked lower.
Related: Nothing 'modest' or 'moderate' about market rally
The Institute for Supply Management also delivered positive news Thursday. The group's monthly manufacturing sentiment index rose to 55.4, the highest level in two years. Any number above 50 signals growth. But a separate report from the Census Bureau showed that construction spending declined 0.6% in June, surprising analysts who were expecting a slight rise. Major automakers released their monthly sales results Thursday. General Motors ( GM, Fortune 500), Ford ( F, Fortune 500), Chrysler Group and Toyota ( TM), the nation's four largest automakers, had their best July since before the 2007 recession. Investors also continued to be soothed by Indications that the Federal Reserve will not be too hasty when scaling down its massive bond-buying program.
Related: Fear & Greed Index
1/3
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What's moving: Procter & Gamble ( quarter.
PG, Fortune 500) reported better-than-expected earnings and sales for its fiscal fourth
Exxon Mobil ( XOM, Fortune 500) reported quarterly earnings that fell short of forecasts, citing weaker refining margins, while revenue topped estimates. Royal Dutch Shell ( RDSA) shares dropped after the company reported earnings and revenue that missed estimates. The company cited higher costs, exploration charges and challenges in Nigeria, where oil thefts and supply disruptions have hit Shell's bottom line. Shares of DirecTV ( DTV, Fortune 500) fell after the satellite television provider posted earnings that widely missed forecasts.
Yelp doesn't need any help

Yelp ( YELP) shares jumped more than 20% after the online review site reported a smaller-than-expected quarterly loss late Wednesday. Sony ( SNE) shares rose after the company reported first-quarter results showing a 13% jump in sales compared with the same quarter a year earlier. The revenue boost was largely the result of a weaker yen and stronger smartphone sales.
Related: Facebook investor: I'm buying more
Shares of J C Penney ( JCP, Fortune 500) slipped again following a 10% sell-off Wednesday. The retailer issued a statement early Thursday disputing reports that CIT ( CIT, Fortune 500) had cut off some of the credit to its suppliers due to concerns about Penney's ability to pay them. However, an analyst for Citigroup cut her recommendation on the stock to a "sell" from "neutral." Meanwhile, shares of Sprout Farmers Market ( After the closing bell, LinkedIn ( in after-hours trading. SFM) more than doubled from their IPO price on their first day of trading.
LNKD) reported better-than-expected results and boosted its full-year forecast. Shares rose
Best of StockTwits: On any given day, the chatter on StockTwits centers around high-profile stocks in the news and on the move. Here's a look at some of them. Visa ( V, Fortune 500) shares staged a rebound a day after tumbling more than 7%. The card giant's shares took a big hit Wednesday after a Washington D.C., district court judge ruled that the limit on debit card swipe fees that were implemented with the 2010 Dodd-Frank law were too high. gabbs: I love panic-sells/mini-crashes caused by over reaction to news. The best way to grab cheap shares.$V RottenAl: 3Xs daily volume in $V. Get it all out of your system boys. Judge ruling must mean co is worth 10% less, right? Not. It was also all about the social media stocks on StockTwits, with Facebook ( hottest topics.
FB), Trulia (
TRLA) and others among the
2/3
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joshing: Mobile web bubble $Z $TRLA $YELP $FB $LNKD .. Party like its 1999 but with smartphones and apps with mobile ads!!! Facebook shares were in particular focus after topping their IPO price of $38 per share for a second day in a row. MacToney: $FB I hate this stock, but love money more, going long on push above 38 duke2duke: $FB If I was big money I would jump in now, because this stock is not going the lower support of two weeks ago... no chance. Bullish
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Stocks Post Weekly Gains as Traders Ponder U.S. Economy | Fox Business

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FOX Business: Capitalism Lives Here The major market averages climbed on the week as traders made sense of varying accounts of the strength of the world's biggest economies. Today's Markets The Dow Jones Industrial Average climbed 30.3 points, or 0.19%, to 15658, the S&P 500 rose 2.8 point, or 0.16%, to 17410 and the
1 Best and Brightest Snubbing the Street?

2 U.S. Economy Adds Fewer Jobs than Expected in July
3 Stocks Post Weekly Gains as Traders Mull Economy
4 Cablevision Sees 2Q Gains But Loses TV Subscribers
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Nasdaq Composite advanced 13.4 points, or 0.38%, to 3690.

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For the week, the Dow added 0.63%, the S&P 500 tacked on 1.1% and the Nasdaq rallied 2.1%. The Dow and S&P both notched fresh record highs. The U.S. economy added 162,000 jobs in July, a slimmer gain than estimates of 184,000. The jobless rate fell by 0.2 percentage point to 7.4% -- the lowest since December 2008, and below the forecast of 7.5%. The labor force participation rate, which gauges the proportion of the population in the labor force, fell to 63.4% from 63.5%. Market participants said the report was solid, but still pointed to stubbornly-slow job growth.
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"The reality of a still mediocre economy was evident in todays payroll figure," said Peter Boockvar, chief market analyst at The Lindsey Group. Echoing that view, Peter Newland, an economist at Barclays, wrote to clients that the dip in the jobless rate "was the beginning and end of the better-than-expected news from the July employment report." He went on to say that "all other features were on the soft side of expectations." The report has taken on even more significance recently as traders try to figure out when the Federal Reserve will begin tapering its vast bond-buying program and eventually hike interest rates. The central bank has repeatedly said it plans on starting to push overnight rates higher when the jobless rate moves down to around 6.5%. The Commerce Department said consumer spending climbed 0.5% in June from May, matching Wall Streets expectations. Personal income inched up by 0.3%, slightly shy of estimates of a 0.4% increase. A separate report from Commerce showed orders placed with U.S. factories rising 1.5% in June, falling short of estimates of 2.3%. The move was led by a big increase in the transportation segment. On the corporate front, AIG (AIG) posted better-than-expected quarterly profits and resumed its dividend for the first time since the financial crisis. Dell's(DELL) special committee and a buyout group led by founder Michael Dell and private-equity firm Silver Lake Partners reached a fresh deal ahead of a key shareholder vote. Elsewhere, gold prices tumbled $25.10, or 1.9%, to $1,286 a troy ounce. Oil dipped 19 cents, or 0.18%, to $107.70 a barrel. Wholesale New York Harbor gasoline slumped 0.53% to $3.012 a gallon. Foreign Markets The Euro Stoxx 50 rose 0.11% to 2812, the English FTSE 100 dipped 0.22% to 6667 and the German DAX climbed 0.1% to 8419. In Asia, the Japanese Nikkei 225 surged 3.3% to 14466 and the Chinese Hang Seng drifted higher by 0.46% to 22191. Follow Adam Samson on Twitter @adamsamson.
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Business Markets
Sensex rises 124 points

PTI
Brokers said investors covering pending positions before a long weekend The Hindu and buying in stocks available at attractive levels mainly pushed up the market.
Snapping two-day losing streak, the BSE benchmark Sensex on Thursday rose over 124 points on emergence of buying support amid rupee gaining strength and global markets witnessing positive trends. The Sensex gained today 124.46 points, or 0.67 per cent, to close at 18,789.34, led by metal, realty and power sectors. It had lost over 517 points in the previous two sessions. Of 30 Sensex stocks, 21 stocks gained, including by Tata Steel, Infosys, TCS, Cipla, Bharti Airtel, BHEL, Coal India, HDFC Bank, Hindalco Industries, Jindal Steel, Sterlite Industries and Tata Power. The broad-based National Stock Exchange index Nifty rose today by 46.55 points, or 0.84 per cent, to end at 5,565.65. SX40 index, the flagship index of MCX-SX, closed at 11153.85, up 81.09 points, or 0.73 per cent. Brokers said investors covering pending positions before a long weekend and buying in stocks available at attractive levels mainly pushed up the market. The firming rupee and better trend in global markets further supported the uptrend, they added. Shares of drug major Ranbaxy Laboratories jumped 27.49 per cent to Rs 359.50. The company had narrowed net loss for the second quarter of the fiscal. Recent losers in auto and realty sectors were back in demand at prevailing lower levels. Maruti Suzuki spurted 3.89 per cent, followed by Mahindra and Mahindra (2.42 per cent), Bajaj Auto (0.34 per cent) and Hero MotoCorp (1.14 per cent). The auto sector index gained 1.38 per cent to 10,215.33. The metal sector index gained the most by rising 2.61 per cent to 6,855.54, followed by realty (2.35 per cent), power (1.42 per ent) and Tech (0.90 per cent).
www.thehindu.com/business/markets/sensex-rises-124-points/article5003610.ece?css=print 1/2
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The BSE will remain closed tomorrow for Id-ul Fitr Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing trade Post Comment
Printable v ersion | Aug 9 , 2 01 3 1 :2 6 :2 9 AM | http://www.thehindu.com /business/m arkets/sensex-rises-1 2 4 -points/article5003 6 1 0.ece The Hindu
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Wall Street Snaps Three-Day Losing Streak | Fox Business


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Wall Street Snaps Three-Day Losing Streak

Pub lished August 08, 2013 / FOXBusiness

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FOX Business: Capitalism Lives Here The markets pushed higher for the first time in four days after a round of strong data on two of the world's biggest economies boosted traders' sentiment. Today's Markets The Dow Jones Industrial Average climbed 26.7 points, or 0.18%, to 15498, the S&P 500 rose 6.6 points, or 0.39%, to 1697 and the
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The Dow and S&P 500 both slide for the third day in a row on Wednesday, the longest losing streak for the stock-market barometers since June. The mood was initially lighter on Wall Street Thursday after China posted bigger-than-expected increases in exports and imports. However, the rosy sentiment faded in morning action. Exports from the world's second-biggest economy jumped 5.1% on a year-to-year basis. Imports, meanwhile, surged 10.9%. There have been worries that China's economic growth will slow down too quickly, and hinder expansion in the broader world economy as a result. However, these data pointed to stabilization, according to
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economists.
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"The positive surprise from Chinas July trade data, with both export and import growth exceeding consensus expectations, caught everyones attention," economists at Japan-based Nomura wrote in
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an email to clients. On the U.S. front, the number of individuals applying for first-time jobless benefits rose to 333,000 last week from an upwardly-revised 328,000 the week prior. Economists expected claims to rise to 336,000 from an initially reported 326,000. The four-week moving average, which helps smooth volatility in the weekly readings, fell to its lowest level since November 2007. Elsewhere, J.P. Morgan Chase (JPM) revealed in a regulatory filing that the U.S. Justice Department has launched parallel civil and criminal probes into sales of mortgage-backed securities by the biggest U.S. bank by assets. U.S. oil prices dipped 19 cents, or 0.18%, to $104.18 a barrel. Wholesale New York Harbor gasoline rose 0.15% to $1.875 a gallon. Gold ticked up $2.60, or 0.2%, to $1,288 a troy ounce. Foreign Markets The Euro Stoxx 50 climbed 0.8% to 2817, the English FTSE 100 rose 0.4% to 6537 and the German DAX rallied 0.91% to 8335. In Asia, the Japanese Nikkei 225 slid 1.6% to 13606 and the Chinese Hang Sent ticked up 0.31% to 21656.
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Sensex logs best gain in month, surges 283 pts on rupee optimism - The Hindu
Business Markets
Sensex logs best gain in month, surges 283 pts on rupee optimism
IANS
The benchmark S&P BSE Sensex today rose by 283 points, its best daily gain in a month, on optimism about the rupee after the government took more steps to curb the burgeoning current account deficit. Realty, bank and auto stocks led the gains amid strong global cues coupled with capital inflows. The 30share Sensex resumed lower and dipped to 18,864.81, triggered by weak June industrial output data released after trading hours yesterday. Helped by valuebuying, the index recovered to settle at 19,229.84, a gain of 282.86 points, or 1.49 per cent. On July 12, the Sensex had risen by 282.41 points. The 50share Nifty on the National Stock Exchange firmed up by 86.90 points, or 1.55 per cent, to a oneweek high of 5,699.30. The SX40 index on the MCXSX added 149.2 points, or 1.33 per cent, at 11,408.14. The Index of Industrial Production for June contracted 2.2 per cent, while retail inflation was slightly lower at 9.64 per cent in July, from 9.87 in the previous month. This economic slowdown, along with easing inflation, is triggering hopes for rate cuts in near term. Ratesensitive stocks were surging high in todays trade, said Rakesh Goyal, senior vice president at Bonanza Portfolio Ltd. Finance Minister P Chidambaram yesterday announced a slew of measures, including easier overseas borrowing norms, to fetch an additional USD 11 billion and check the CAD. As part of those steps, the government today increased import duty on gold, silver and platinum to 10 per cent. The rupee recovered to 61.17 against the dollar, compared with yesterdays close of 61.27. Of the 13 sectoral indices, 11 closed with gains. Consumer durables and metal indices fell. Keywords: Sensex, BSE, Bombay Stock Exchange, Nifty, NSE, National Stock Exchange, closing trade
www.thehindu.com/business/markets/sensex-logs-best-gain-in-month-surges-283-pts-on-rupee-optimism/article5018323.ece?homepage=true&css=print 1/2
8/13/13
Fed Hopes Help Lift Wall Street | Fox Business


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FOX Business: Capitalism Lives Here Optimism the Federal Reserve will only slowly pare back its massive bond-buying operation pushed Wall Street into the green on Tuesday. Today's Markets According to preliminary calculations, the Dow Jones Industrial Average climbed 31.3 points, or 0.2%, to 15451, the S&P 500 gained 4.7 points, or 0.28%, to 1694 and the Nasdaq Composite advanced
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Atlanta Fed President Dennis Lockhart said in public remarks that the central bank could begin paring back its vast bond-buying program sometime during 2013. That compares with consensus estimates, and hinting last month, that the much-feared tapering could begin as early as September.
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The Commerce Department said retail sales ticked higher by 0.2% in MOST POPULAR STOCKS July from June, narrowly missing estimates of a 0.3% gain. Excluding the automobile component, sales climbed 0.5%, topping estimates of
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a 0.4% increase. There have been worries that stagnant wage growth and higher payroll taxes could weigh on consumers. Meanwhile, The Labor Department reported import prices edged higher by 0.2% in July from June, shy of estimates of a 0.6% increase. Export prices dipped 0.1%, compared to forecasts of a 0.2% rise. The Zew survey of German investor sentiment leapt higher to 42 in August from 36.3 the month prior, easily beating estimates of 39.9. The data suggest Europe's powerhouse economy is picking up steam as the eurozone debt crisis subsides and the continent's economic engine revs up. Machine orders in Japan, the world's No. 3 economy, jumped 4.9% on a year-over-year basis, coming in well ahead of forecasts of 2.6%. Data from Japan have been improving amid a major push by the country's central bank to pull the Asian country out of its years-long slump Elsewhere, the Justice Department filed suit seeking to block US Airways' (LCC) $11 billion takeover of American Airlines parent AMR on antitrust grounds. Activist investor Bill Ackman resigned from J.C. Penney's (JCP) board of directors. The struggling retailer said Ronald Tysoe will join the board as it seeks one additional candidate. Oil prices climbed by 46 cents, or 0.49%, to $106.60 a barrel. Wholesale New York Harbor gasoline jumped 0.91% to $2.93 a gallon. In metals, gold slumped $7.20, or 0.56%, to $1,326 a troy ounce. Foreign Markets The Euro Stoxx 50 rose 0.27% to 2835, the English FTSE 100 ticked up 0.47% to 6605 and the German DAX jumped 0.69% to 8417. In Asia, the Japanese Nikkei 225 surged 2.6% to 13867 and the Chinese Hang Seng rallied 1.2% to 22451. Follow Adam Samson on Twitter @adamsamson.
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