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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.

Overnight Market News – May 15, 2009

admin — Fri, 15 May 2009 14:29:11 +0000

Eurozone Economies Shrink 2.5% in First Quarter, Most Since 1995
General Motors Corp Close to Agreement with United Anto Workers Union (UAW) to Cut Labor Costs by Over USD 1B per Year
Panasonic Corp Forecasts Larger-Than-Expected Annual Loss Following First-Quarter Net Loss of JPY 444.3B vs Net Profit of JPY 61.6B yoy
Temasek Holdings Pte Sells Its 3.5% Holding in Bank of America Corp (BAC) at an Estimated Loss of USD 4.6B
Rio Tinto Group Reaffirms its Commitment to Planned USD 19.5B Investment Deal with Chinalco
Nike Inc to Cut Approximately 1,750 Jobs or 5% of Global Workforce
Crude Oil Stands at USD 58.20 per Barrel
Ethanol Stands at USD 1.82 per Gallon
Natural Gas Stands at USD 4.26 per British Thermal Unit (Btu)
Dow Jones Industrial Average Rises 46.43 Points (0.56%)
London FTSE Index Falls 2.89 Points (-0.07%)
Japan Nikkei Index Rises 171.29 Points (1.88%)
Hong Kong Hang Seng Index Rises 249.01 Points (1.51%)
Brazil Bovespa Index Rises 766.83 Points (1.58%)

Overnight Market News – May 13, 2009

admin — Wed, 13 May 2009 16:02:27 +0000

European Commission Fines Intel Corp USD 1.45B on Using Rebates to Impede A Competitor
Japan’s Current Account Surplus Falls 50.2% in Year Through March to JPY 12.23T (USD 127B)
International Business Machines Corp (IBM) Ready to Launch New Real-Time Data Analysis Software
US Bancorp Sells USD 2.5B Worth of Common Stock After Passing Stress Test Hoping to Persuade Regulators it is Strong Enough to Repay TARP
Ford Motor Co Raises USD 1.4B through USD 300mm Share Offer at USD 4.75 per Unit
Europe’s Second-Biggest Phone Company, Telefonica SA First-Quarter Profit Rises 9.8% As it Increased Latin American Customers
Crude Oil Stands at USD 59.38 per Barrel
Ethanol Stands at USD 1.82 per Gallon
Natural Gas Stands at USD 4.52 per British Thermal Unit (Btu)
Dow Jones Industrial Average Rises 50.34 Points (0.60%)
London FTSE Index Falls 29.11 Points (-0.66%)
Japan Nikkei Index Rises 41.88 Points (0.45%)
Hong Kong Hang Seng Index Falls 94.02 Points (-0.55%)
Brazil Bovespa Index Falls 650.61 Points (-1.28%)

Overnight Market News – May 12, 2009

admin — Tue, 12 May 2009 15:36:20 +0000

Bank of America Corp Raises USD 7.3B from Sale of Stake in China Construction Bank Corp
The European Union (EU) Will Conduct Stress Tests on its Banking Sector by September 2009 to Determine Capital Adequacy
China’s Exports Fall 22.6% in April (yoy), While Factory Investments Surge 30.5% (ytd)
Australia’s Budget Deficit Balloons to Record USD 44B on Recession
European Aeronautic, Defence & Space Co Reports 40% Decline in Q01 2009 Net Profit to EUR 170mm on Fewer Plane Deliveries
Nissan Motor Corp Posts Annual Loss of JPY 233.71B vs. Profit of JPY 482.26 as Global Sales Plummet
Crude Oil Stands at USD 58.50 per Barrel
Ethanol Stands at USD 1.78 per Gallon
Natural Gas Stands at USD 4.30 per British Thermal Unit (Btu)
Dow Jones Industrial Averages Falls 155.88 Points (-1.82%)
London FTSE Index Rises 6.10 Points (0.14%)
Japan Nikkei Index Falls 153.37 Points (-1.62%)
Hong Kong Hang Seng Index Rises 65.69 Points (0.38%)
Brazil Bovespa Index Falls 419.60 Points (-0.82%)

Overnight Market News – May 11, 2009

admin — Mon, 11 May 2009 19:02:02 +0000

Centrica to Purchase 20% Stake in British Energy for GBP 2.3B
HSBC Writes Off USD 2.4B on US Subprime Mortgage, Consumer Lending Operations, US Bad Debts Less Than Q04 2008
3i Group Plc Plans GBP 700B Rights Offering After Net Asset Value Plummets 50%
Intel Bracing to Pay Fine for Anti-Competitive Behavior
China’s Consumer Prices Decline 1.5% in April (ytd), Third Straight Monthly Decline
US Economic Growth to Peak in Q01 2010, According to Survey of Top Forecasters
Crude Oil Stands at USD 57.46 per Barrel
Ethanol Stands at USD 1.78 per Gallon
Natural Gas Stands at USD 4.30 per British Thermal Unit (Btu)
Dow Jones Industrial Average Rises 164.80 Points (1.96%)
London FTSE Index Rises 63.41 Points (1.44%)
Japan Nikkei Index Rises 47.13 Points (0.50%)
Hong Kong Hang Seng Index Rises 171.98 Points (1.00%)
Brazil Bovespa Index Rises 1,337.93 Points (2.67%)