Thursday, April 26th, 2007
The Dow Jones industrial average went through the 13,000 points mark and closed at 13,089.89. Higher than expected profits from Boeing Co. and Amazon.com Inc. pushed the Dow up to reach it’s record high. The S&P 500 closed up 15.01 points, or 1 percent at 1,495.42 points. Nasday added 0.9 percent to close at 2,547.89. Asian stocks responded positively to the US news and closed higher, with Japanese shares adding 1 percent.
U.S. stocks extended their biggest monthly rally in more than three years, and the Dow Jones industrial average surpassed 13,000 for the first time, spurred by profits at Boeing Co. and Amazon.com Inc. that topped analysts’ forecasts.
Boeing rose $1.02 to a record $94.69 after earnings surged 27 percent. Amazon jumped $12.06 - the most in five years - to $56.81 after the online retailer raised its 2007 projections. More than two-thirds of 230 Standard & Poor’s 500 Index members have reported profits that topped analysts’ forecasts.
“It’s a global spring fling,” said Frederic Dickson, chief market strategist at D.A. Davidson & Co., which manages $17 billion in Great Falls, Mont. “It’s really caught investors by surprise who had low earnings expectations.”
Source : Philly.com
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Wednesday, April 18th, 2007
The US dollar fell to it’s lowest in 26 years. 1 UK pound now buys you 2 US dollars, the dollar also fell against the European currency. European stocks were hit as worries about a decline in exports due to the expensive Euro surfaced. Gold prices climbed, and analysts expect rate hikes by both the Bank of England and The European Central Bank.
The dollar fell to 26-year lows versus sterling and closed in on record troughs against the euro on Wednesday, putting pressure on European stocks as investors fretted about the possible impact of currency moves on exports.
Dollar weakness boosted gold prices and spread caution on Wall Street which is seen opening lower after disappointing results from Yahoo Inc and IBM.
Expectations for a U.S. rate cut from 5.25 percent were fuelled on Tuesday by weaker than expected core U.S. inflation figures for March.
The data contrasted sharply with a jump in UK consumer prices that stoked expectations for a rate hike, driving the British currency above $2 to levels not seen since 1981.
Investors also expect the European Central Bank to raise rates in June.
Source : Reuters
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Thursday, April 12th, 2007
Asian stockmarkets closed mixed today, with the Nikkei-225 index rising 5.38 points to 17,670.07. Stocks in Shanghai reached a new high, increasing by 1.48 percent on a continuing strong buying interest. The benchmark Indian Mumbai stock exchange fell 6.30 points (0.05%) to 13,183.24 points on low trade volumes.
HONG KONG: Asian stocks closed mixed Wednesday with the broad tone remaining positive after slight gains on Wall Street overnight helped Seoul, Jakarta and Shanghai to close at record highs.
TOKYO: Share prices closed almost flat as worries about domestic corporate capital spending offset a positive lead from Wall Street.
The Nikkei-225 index rose 5.38 points to 17,670.07. Volume slipped to 1.81 billion shares from 1.99 billion on Tuesday. Nomura Real Estate rose 30 yen to 4,020.
HONG KONG: Share prices closed 0.50 percent higher as another record finish on China’s A-share bourses helped the market reverse modest losses earlier due to profit-taking.
China stocks, notably financials, led the gains while local property plays and blue chips were weak ahead of the release of US Federal Reserve meeting minutes later Wednesday and key US inflation data in the next few days. The Hang Seng Index closed up 101.56 points at 20,449.43.
Source : Daily Times
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