State Forex Station » Stock

Stocks Stumble from Four-week Highs

admin — Tue, 30 Aug 2011 17:17:02 +0000

After a report indicating that US house prices would go on falling and a survey showing that European economic confidence plunged greatly in August, the S&P 500 fell from a four-week high in early trading and Europe’s equity market recovery stuttered.
Before glum economic news in Europe and the US weighed on markets, Asian equity markets had managed to continue to claw back some of this month’s losses.

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US Bond Market Rallies After Downgrade

admin — Sun, 14 Aug 2011 17:40:05 +0000

Far from triggering an exodus from Treasuries, S&P’s controversial downgrade of US credit is now sharpening appetites, as investors go on to view US government debt as a bolt hole in volatile global markets and newcomers pile in too.
According to Bank of America Merrill Lynch, the downgrade ranks the US below more than a dozen nations, putting US on a par with Belgium and New Zealand. Yet the US Treasury market rallied strongly after S&P’s downgrading US credit.
According to the US Federal Reserve, it is announced that the short-term interest rates would be frozen for two years in an effort to boost the week economy.

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Goldman Sachs Economists Keep Constructive Commodity View

admin — Sat, 13 Aug 2011 14:43:27 +0000

Several factors are leading Goldman Sachs economists to keep their relatively constructive commodity views over the next year intact in spite of the economic downgrades and apparent rising market concerns on the commodity outlook:
1. Global growth expectations for 2012 remain at 4.4% even after GS economic downgrades。 It is sufficiently high to tighten key commodities.
2. Economic growth in emerging market is expected to remain robust.
3. Economic growth is still expected to improve over 2H2011 period and 2012.
4. Commodity balances have generally been resilient during 1H2011.

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Debt Ceiling Impasse Threatens US Bonds

admin — Mon, 04 Jul 2011 05:31:33 +0000

The US bond market is now facing a potentially testing July, if the impasse over raising the Federal debt ceiling fail to end up in a deal and then threaten the risk of a default by the Treasury as a result.
As the consensus in the bond market is for a last minute deal before the deadline on August 2, sentiment may be hit as rating agencies weigh in on the issue and the market is asked to take in new debt.
S&P’s has warned that it will slash the US credit rating to D, which is the lowest level in the event the debt ceiling is not raised and the country misses a debt payment. While the bond market takes it to be very unlikely, the ramifications of the Treasury missing a payment may be dire, given the widespread use of US bonds as collateral across financial markets.

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Nasdaq Makes Bid for NYSE

admin — Tue, 03 May 2011 13:38:06 +0000

The protracted battle for ownership of Wall Street giant NYSE Euronext took a fresh twist as rival exchange operator Nasdaq OMX and partner IntercontinentalExchange tabled a takeover bid of £6.6bn .
The pair have again been declined by the NYSE board in favour of a competing offer from Deutsche Boerse. However, Nasdaq and ICE have gone straight to shareholders this time, setting the scene for a lengthy hostile takeover.
According to Bob Greifeld, boss of Nasdaq , it is said that the deal was in the best interests of NYSE shareholders.

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S&P Cuts US Credit Outlook to ‘Negative’

admin — Mon, 18 Apr 2011 18:04:24 +0000

Standard & Poor’s has downgraded the outlook on US sovereign debt from stable to negative. The S&P move comes amid intense wrangling in Washington over raising the US debt ceiling against the backdrop of strident debate between Democrats and Republicans over dealing with long-term government spending.
This indicated the worries over budget deficits and debt. The move has sent US stocks tumbling, while bolstering the USD and short-term US Treasury notes. The S&P announcement sparked knee-jerk selling across the markets, especially in equities.
As measured by a trade-weighted basket of currencies–the dollar index, the USD stay firmed and is now up by 1.2%. The euro is down by 1.7% versus the dollar.

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Sokol Defends Buying Shares Before Recommending Takeover

admin — Mon, 11 Apr 2011 13:00:11 +0000

Former chairman of several Berkshire subsidiaries–David Sokol defended his decision in buying shares in Lubrizol, a maker of speciality chemicals, before recommended to Warren Buffett. Mr. Sokol insisted that another key lieutenant had done the same thing.
Mr Sokol argued that he had done nothing wrong or unethical. However, some investors expressed concerns about Mr Sokol’s actions.

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Stocks Hum as Data on Jobs Sing in US

admin — Thu, 10 Mar 2011 17:49:39 +0000

US stocks had their best gains in three months, as a strong reading on employment and a drop in the price of oil helped investors breathe a sign of relief.
European stocks also finished in the black as the upbeat US economic data offset a statement by the head of the ECB that an interest-rate increase next month is possible.
The Dow Jones Industrial Average rose by 1.6% to 12258.2, which is its biggest move ever since last December. The Nasdaq Composite Index gained 1.8%, while the Standard & Poor’s 500-stock index climbed by 1.7%.

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Positive Inflation Data Lift Shares in New York

admin — Tue, 11 Jan 2011 12:40:47 +0000

Wall Street started the new trading year on a strong note. The rally of late 2010 resumed after encouraging signs about the economic outlook, with upbeat manufacturing and construction spending data.
Shares were also helped by data from China that indicated inflation easing in December, calming concerns the country may raise interest rates.

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Unilever to Buy U.S. Beauty Products Company

admin — Mon, 27 Sep 2010 15:41:42 +0000

The Anglo-Dutch consumer goods company–Unilever, announced that it had decided to purchase the U.S. beauty products company Alberto Culver for 3.7 billion dollars.
Unilever, the Dove soap, Pond’s skin cream and Vaseline makes, announced that Alberto Culver’s array of brands, including TRESemme, Nexxus, VO5, St Ives and single, etc.
The company will pay $37.50 in cash for every share of Alberto Culver.

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