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Overnight Market News – October 15, 2009

admin — Thu, 15 Oct 2009 11:42:22 +0000

Dow Jones Industrial Average Closes Above 10,000 Points, First Time in Over a Year
Xstrata PLC Drops Proposed GBP 29.6B (USD 48B) Merger of Equals Deal with Anglo American PLC
Nokia Corp Reports Unexpected Third Quarter Net Loss of EUR 559mm (USD 833.9mm) on Weak Demand for Mobile Products
Brewer, Anheuser-Busch InBev NV to Sell Eastern European Units to CVC Capital Partners Ltd for up to USD 3.03B
Singapore Bank, OCBC Corp to Acquire ING Greop NV’s Asian Unit for USD 1.46B
Crude Oil Stands at USD 75.18 per Barrel
Ethanol Stands at USD 1.96 per Gallon
Natural Gas Stands at USD 4.44 per British Thermal Unit (Btu)
Gold Stands at USD 1,063.90 per Troy Ounce Ounce
Dow Jones Industrial Average Rises 144.80 Points (1.47%)
London FTSE Index Falls 6.29 Points (-0.12%)
Japan Nikkei Index Nikkei Index Rises 178.44 Points (1.77%)
Hong Kong Hang Seng Index Hang Seng Index Rises 112.60 Points (0.51%)
Brazil Bovespa Index Rises 1,555.54 Points (2.41%)

Dow Soars Above 9000

admin — Fri, 24 Jul 2009 23:06:18 +0000

Solid earnings at Ford Motor Co. and others, sent the Dow Jones Industrial Average (DJIA) soaring above 9000 points in the early hours of trading yesterday. This marked the first time that the world’s best known stock market gauge had risen above the 9000 mark since January 2009.

Likewise, the Standard & Poor’s 500 Index (S&P 500) hit 967.53 yesterday morning, its highest level since November 2008. The DJIA and S&P 500 continued their winning streaks for the rest of the day, adding 2.12% to close at 9069.29 points and 2.33% to 976.29 points respectively.

Dow Jones & S&P End Lower Yesterday

admin — Tue, 23 Jun 2009 17:25:10 +0000

In trading yesterday, the Dow Jones Industrial Average closed at 8339.01, down 200.72 points (2.35%) from the day’s start. Similarly, the Standard & Poor’s 500 Index slumped 2.6% to 893.04 points, following the first weekly decline in more than a month.

Most of the indices’ decline is due to the World Bank announcement that it expects the global economy to contract by 3% this year, up from the Bank’s previous forecast of 1.7% in March. Additionally, the bank expects unemployment and poverty to rise 2.9% in 2009.

‘Fear Gauge’ Goes Up

admin — Tue, 16 Jun 2009 08:57:49 +0000

The Chicago Board Options Exchange Volatility Index (more popularly known as the VIX) added 9.7% to jump to 30.89 yesterday. This upward-movement of the Index, which is widely accepted as a ‘fear gauge’, suggests that there may be dark skies ahead for the U.S. stock market as investors have gotten more anxious.

In the same breath, the Dow Jones Industrial Average plunged yesterday, losing 187.13 points (2.13%). This move was a telling one, as the VIX has not closed above the 30 mark since June 4, 2009.

Travelers Cos Inc. Added To The Dow Jones Industrial Average

admin — Fri, 05 Jun 2009 21:07:44 +0000

Travelers Cos Inc. is riding high after becoming one of the latest additions to the Dow Jones Industrial Average. To top things off, the insurer slightly upgraded its earnings projection for 2009 after it resumed share buybacks this quarter. Travelers Cos now expects an operating income per share of between US$4.55 and US$4.95 vs. an earlier projection of between US$4.50 and US$4.90. The company has managed to remain profitable amid the global financial crisis and has recently been growing its market share while its competitors struggle to recover.

Cisco Joins Dow Jones Industrial Average

admin — Tue, 02 Jun 2009 17:27:35 +0000

Cisco Systems Inc., the world’s biggest networking equipment maker, will become the latest addition to the Dow Jones Industrial Average, replacing General Motors Corp. With close to 130 firms under its belt, Dow Jones continues to exceed expectations as it expands its technology portfolio and product lines. According to Cisco, its inclusion on the Dow Jones Industrial Average speaks volumes about its role as a broad technology indicator, and the increasing importance of information technology to the U.S. economy.