Asian stock market, economy and companies update (June 25, 2010)
Asian equity markets are lower across the board in the week's last trading session following a modest bounce overnight, tracking the final-hour selloff in US indices. Late in Tokyo, Nikkei225 is down 2.2%, while S&P/ASX and the Taiex are off by 1.5%. Korea's Kospi and Shanghai Composite are in the red as well, declining a more moderate 0.7%. With poor quarter performance in the consumer names NKE and BBBY driving Wall Street weakness on Thursday, Friday appears to be more mixed on strong afterhours earnings report out of Oracle, as front-month S&Ps are still up a marginal 0.1% at 1,071.
Asian stock market, economy and companies update (June 24, 2010)
Asian equity markets are modestly higher, tracking the latter part of the session rebound in the US on dovish Fed rhetoric boosting expectations for lending rates to remain "exceptionally low" for longer than expected. Despite another horrific housing data - this time the more price-flexible new home sales - S&P500 was down just 0.3% and the Dow managed a marginal positive finish. Across Asia, Taiwan, Korea, Japan, Australia, and Shanghai markets are in the positive 0.3-0.5% range entering the final hour of Tokyo trading, while front-month S&Ps also point to modest uptick with a 0.2% gain to 1,090. Sydney markets were relatively stronger early on abrupt resignation of PM Rudd before incoming Labor leader Gillard reaffirmed her intention to pursue a (presumably, watered-down) mining tax.
Asian stock market, economy and companies update (June 23, 2010)
Asian equity markets are decidedly bearish, tracking housing weakness-infused late-day US session selloff that sent Wall St indices to one-week lows. Nikkei225 is leading the slide with 1.7% decline, while Shanghai Composite and S&P/ASX are off by about 1%. Korea's Kospi and Taiwan's Taiex are also marginally lower by 0.2% and 0.4%. Ahead of the Fed decision on Wednesday, front-month S&Ps are up about 0.3% on expectations policymakers will reaffirm their commitment to exceptionally low rates for extended period, all despite the chatter that FOMC may also downgrade assessment to the economy, particularly in the wake of soft jobs, housing, and inflation data.
Asian stock market, economy and companies update (June 22, 2010)
Asian equity markets are modestly lower following a steady slide in the US indices which had been disappointed by the PBoC parity setting on hold on Monday. And while Chinese central bank this time delivered on its Saturday promise to move away from the Yuan dollar peg by lifting CNY to 6.7980 - record high setting for Chinese currency - concerns over the marginal pace of currency reform have translated into some further caution. In the final hour of Tokyo trading, Nikkei225 and S&P/ASX are down about 1%, Korea's Kospi off by 0.5%, and the Taiex is lower by 0.1%, with Asian bourses returning to levels seen before to Yuan move. Shanghai Composite is up a marginal 0.3%, while S&P futures are unchanged around 1,111 after rising to 1,116 in the wake of PBoC move.
Asian stock market, economy and companies update (June 21, 2010)
Asian equity market enter the new week on a firm footing following a surprise announcement by the PBoC to move to a more flexible stance on Yuan. The rationale for the timing is unclear given the political pressure for currency reform from Washington with one week ahead of the G20 meeting in Toronto. Chinese officials maintain that revaluation is the result of economic recovery, with no direct link to G20 summit, all despite a set of commentary from several Chinese govt officials acknowledging uncertainty from European fiscal crisis just last week. Regardless of the true motivation in Beijing, currency flexibility has translated directly into resurgence of risk trade, as Nikkei225, Shanghai Composite, and the Taiex are up about 2%, while S&P/ASX and the Kospi gained over 1%. Front-month S&Ps are also up 1.3%, rising 16 handles to 1,126. Meanwhile, the daily Yuan mid-point setting acquires a new level of significance as markets become more sensitive to the promise of higher CNY as evidenced in today's session, when unchanged USD/CNY setting of 6.8275 tempered early risk appetite.
Asian stock market, economy and companies update (June 18, 2010)
Asian equity markets are mixed going into the weekend, tracking further short-covering in the US session where the early weakness from a trifecta of poor inflation, weekly jobless claims, and Philly Fed data on Thursday was shrugged in the final hour of trading. Entering the final hour in Tokyo, Nikkei225 and Taiwan's Taiex are down slightly, while Korea's Kospi is flat. Sydney shares are trading higher on renewed expectations for the govt to modify its mining tax proposal. In China, Shanghai Composite losses were more pronounced on cautious comments regarding nation's growth going forward from the World Bank as well as a PBoC adviser. S&P futures are trading near flat levels at 1,111, with little on the docket to tilt sentiment from two consecutive sessions of near-equilibrium.
Asian stock market, economy and companies update (June 17, 2010)
After several days of global risk appetite in the face of fresh turmoil in the EU - namely rumors of Spanish banking system demanding a liquidity oriented €250B credit line - Asian equity markets are finally exhibiting a more cautious tone. Nikkei225 dropped about 0.8% on the other side of midday break despite some M&A activity in the tech space. Sydney's S&P/ASX was off by 0.5%, Korea's Kospi and Shanghai Composite traded flat, and Taiwan's Taiex - returning from holiday - was up 0.9% on catch-up buying. A cautious tone adopted in US markets late in the day is also being felt in S&P futures. With CPI and Philly Fed data on tap for Thursday session, front-month S&Ps are down 0.5% below 1,104.
Asian stock market, economy and companies update (June 16, 2010)
Rampant risk appetite of the US session is spilling over into the holiday-thinned Asian equity markets as investors continue to shrug more troubling signs of contagion in Europe. Overnight, EU commission called for France to outline its planned budget cuts, warning that bigger cuts or tax hikes may be needed to bring down its 8% deficit/GDP ratio to 3% by 2013. In turn, FT report that Spanish banks' borrowing from the ECB in May seen at €85.6B - twice the amount lent before Lehman collapse and 16.5% net of EU loans offered by the central bank. Tech sector strength in the US boosted Nikkei225 by as much as 2%, while S&P/ASX and Korea's Kospi were up over 1%. Shanghai Composite and Taiwan's Taiex were both closed for trading - the last of the 3-day holiday in China. With US building permits on tap for the Wednesday US session - a data-point where weakness in the prior month coincided with retreat in risk appetite - front-month S&Ps are down 0.3%.
Asian stock market, economy and companies update (June 15, 2010)
Asian equity markets are marginally higher as investors shrug the 4-notch sovereign downgrade of Greece by Moody's and availability of credit concerns in Spain that helped reverse early risk appetite in the US session. Entering the final hour of trading in Tokyo, Nikkei225, S&P/ASX, and the Kospi are up in a 0.1-0.3% range, with similar upside range seen in US equity futures. Taiwan's Taiex is the broad outperformer, rising over 1% as investors continue to reward progress on cross-straits trade talks with China announced yesterday.
Asian stock market, economy and companies update (June 14, 2010)
Asian equity markets are starting the new week on a firm footing, as risk appetite is looking increasingly less fragile following the last-hour Friday rally in the US as well as some more benign economic data from Japan. Entering the final hour of Tokyo trading, Nikkei225 is leading the region with a 1.6% advance after Japan's Finance Ministry's Q2 BSI figures saw near-3-yr high. BSI also revised ts CAPEX outlook for FY10/11 sharply higher to +9.2% from -5.5% estimate in the prior survey. Elsewhere, Korea's Kospi was up over 1% on upbeat comments from local officials, and Taiwan's Taiex celebrated progress on China trade pact with a 0.9% rally. Shanghai Composite is closed for the first 3 days of the week, while S&P/ASX was also on Queen's Birthday holiday break. Going into the new week on Wall St, front-month S&Ps point to a higher open with a 0.4% boost to 1,089.
Asian stock market, economy and companies update (June 11, 2010)
Risk appetite sentiment has circled the globe in a 24-hour cycle as the rally sparked by China's strong trade data swept into US markets with a near-3% gain. After opening higher and making further upside inroads in the first half of the day, Asian equity markets have since pared some of those gains in the wake of - yet again - Chinese economic data that painted a less rosy picture. Nikkei225, S&P/ASX, Korea's Kospi, and Taiwan's Taiex are still up over 1% but well off session's best levels, just as front-month S&Ps point to a lower Friday open at -0.2%.
Asian stock market, economy and companies update (June 09, 2010)
Asian equity markets are trading weaker, unimpressed by last-hour rally in the US bluechips, setting the pace for renewed risk aversion in spite of improving economic data. Nikkei225 is the biggest loser by over 1%, at one point hitting the lowest level for the year. Taiwan's Taiex and Korea's Kospi are down about 0.5%, S&P/ASX is down 0.2%, and front-month S&Ps are pointing to a lower Wednesday open with a 0.4% drop. Light economic calendar in the US will be compensated by more commentary from Fed Chairman Bernanke speaking before the Congressional Budget Committee in Washington.
Asian stock market, economy and companies update (June 08, 2010)
Asian equity markets staged a reversal from early weakness at the open as short-covering in S&P futures and mixed commentary from Fed Chairman Bernanke reinforced expectations for slow and steady recovery in a low interest rate environment. Sydney index is leading the way with a 1.2% bounce with press commentary suggesting the controversial mining tax is becoming a serious political liability to Prime Minister Rudd. Korea's Kospi is also up 1%, while Nikkei225 and Shanghai Composite are up a modest 0.4% - the former bouncing from a near-1% drop at the open. After pronounced US market weakness in the final hour of trading on Monday, front-month S&Ps point to a higher open with a sizable 0.6% bounce.
Asian stock market, economy and companies update (June 07, 2010)
Asian equity markets are deep in the red as perceptions of a US-recovery backstop counterbalancing the slowdown in China and fiscal crisis in Europe were undone by the disappointing Friday jobs report. Nikkei225 is leading the collapse with a 3.7% drop - falling as much as 4% going into midday break. Sydney and the Taiex are down about 3%, while Shanghai Composite and the Kospi are off by over 2%. With little economic data on tap from the US to cure the weekend hangover of low private sector job growth in last month's NFP, front-month S&Ps were weighed down from the start by as much as 1% to fall below Friday lows.
Asian stock market, economy and companies update (June 03, 2010)
Asian equity markets are in the green by a wide margin, tracking the outsized gains in the US indices that followed much improved Pending Home Sales as well as speculation of a strong non-farm payrolls report on Friday. Nikkei225 is leading the way with a 3% jump above 9,900, with export sector supported by the weaker Yen following yesterday's resignation of PM Hatoyama. Finance Minister/Dep PM Naoto Kan - front-runner ahead of tomorrow's DPJ general assembly election - is said to be a supporter of weaker Yen and more activist measures by the BOJ to rescue the economy from deflation. Elsewhere, Taiwan's Taiex and the S&P/ASX are up over 2%, Korea's Kospi is back from yesterday's break with a 1.5% advance, and Shanghai Composite is up over 0.5%. Ahead of Thursday's private sector ADP jobs tally - front-month S&Ps have tested 1,100 with a 0.3% rally.
Asian stock market, economy and companies update (June 02, 2010)
Asian equity markets are in the red across the board for the second consecutive session, tracking late-day selling in the US. Entering the final hour of trade, Nikkei225 is at session lows down 1.5%, reversing the earlier rally on Yen weakness brought about by abrupt resignation of Japan Prime Minister Hatoyama just one day after he vowed to stay in office. Sydney's ASX is down nearly 1%, while the Taiex and Shanghai Composite are near a 1.5% slide as well amid deepening risk aversion. With another housing sector figure on tap for tomorrow's US session, front-month S&Ps are near unchanged at 1,068.
Asian stock market, economy and companies update (June 01, 2010)
Asian equity markets are down across the board, as 3-month low in China Manuf PMI leaked an hour early by the National Bureau of Stats through China Information News sparked a selloff from the start of trading. Entering the final hour of Tokyo trading, Nikkei225 is down 0.6%, paring more pronounced weakness early in the session. Korea's Kospi and S&P/ASX are down just over 0.7%, while Taiex and Shanghai Composite are off by about 1% on the more direct exposure to the soft China PMI data. Ahead of the markets return from the holiday weekend in the US, front-month S&Ps are also down 0.6%.
Asian stock market, economy and companies update (May 31, 2010)
Asian equity markets are modestly higher despite the latter session sell-off on Wall St on Friday, as European jitters resurfaced in a Fitch downgrade of Spain. With just about 90 minutes to go in Tokyo trade, Nikkei and the Kospi are up 0.3, Taiex is gaining 0.6%, while Shanghai Composite and S&P/ASX are marginally lower. Trading volumes remain notably light, as both US and UK markets are closed for the session. In electronic markets, front-month S&Ps are up 0.6% just below 1,095.
Asian stock market, economy and companies update (May 28, 2010)
Asian equity markets traded higher in the wake of a roaring rally on Wall St that saw the Dow finish up 2.9% and S&P500 gain 3.3% after Chinese FX authorities as well as the sovereign wealth fund rejected prior session's FT speculation of EuroBond holding review. Entering the final 90 minutes of Tokyo trading, Nikkei225 and Taiwan's Taiex were up just over 1%, off their session lows, Sydney market led the way with a 1.5% gain, while Shanghai Composite and Korean Kospi gains were somewhat more moderate with an over 0.5% advance. All Asian bourses are paring their opening gaps higher on waning optimism, just as front-month S&Ps fall to session lows by 0.4% to 1,097.
Asian stock market, economy and companies update (May 27, 2010)
Asian equity markets are in rally mode late in the day after a weak start which tracked last-hour selloff on Wall St. An FT report stating that China's FX regulator SAFE is reviewing its EuroZone bond holdings weighed on markets and also translated into initial selling in both S&P futures and Asian bourses. With just over an hour to go in Tokyo trading however, Nikkei225, the Kospi, and the Taiex are up 0.9%, while S&P/ASX is up 1.9%, boosted by another day of gains in commodities. With the long holiday weekend on the horizon, US equity futures are up 1.2%.
Asian stock market, economy and companies update (May 26, 2010)
The short covering rally that helped US indices reverse steep early session losses - spurred by speculation of further action by EU policymakers and a strong US consumer confidence report - has also translated into strength in the Asian equity markets. With 90 minutes to go in Tokyo trading, Nikkei225 is up 1.1% while Taiwan and Korea's bourses are up about 0.5%. Sydney's S&P/ASX is leading the charge with a 1.8% jump, predominantly on a 3.5% rally in the materials sectors supported by bullish comments on industry prospects from Rio Tinto. Front-month S&Ps were bid higher from the start of the electronic trading by over 1% before a subsequent retreat to unchanged levels. In late session trading, S&P contract is up 0.4% above $1,077.
Asian stock market, economy and companies update (May 25, 2010)
Asian equity markets are deep in the red across the board, tracking final hour US session weakness, geopolitical concerns on Korean peninsula, as well as more evidence of hardship in Spain's financial sector. With about 90 minutes to go in Tokyo trading, Nikkei225 is down 2.8%, falling to 5-month lows below 9,500. Elsewhere, Taiwan is off by 3.1%, ASX200 down 2.4%, Shanghai off by 1.2%, and the Kospi plummeting by 4.3% - with selling exacerbated by geopolitical saber-rattling tremors from the North. With little economic data on the docket to temper the avalanche of risk aversion and little attention given to better than expected US housing numbers overnight, front-month S&Ps point to further selling at the open, falling 1.6% below 1,054.
Asian stock market, economy and companies update (May 24, 2010)
Asian equity markets open the week with a volatile session, as marginally lower start in Tokyo and Seoul accelerated to the downside in the final hour before the China open helped reverse sentiment in favor of the bulls. Arrival of the US delegation as well as rising expectations for the policymakers to delay monetary/fiscal tightening measures and the state council to pull back property restraints has sparked the slumping Shanghai Composite to a 3% gain, as Shanghai Property index rose about 4.5%. With just about 2 hours left in Tokyo, Nikkei225 is around session highs above 9,760, still down 0.2% but well off session lows below 9,700.
Asian stock market, economy and companies update (May 20, 2010)
Despite the recovery in the US indices over the final hour of trading that led to futures rise over 0.5% in electronic session, Asian equity markets remain offered amid persistent investor skepticism. In the final hour of Tokyo trading, Nikkei225 and the Kospi are down over 1%, Sydney markets are down 0.9%, while Taiwan is off by 1.6%. Shanghai Composite is also in the red by 0.6% around 2,570, unable to preserve the opening hour rally above 2,600. With Philly Fed on tap for the Thursday session, US equity futures sold back down to unchanged levels below 1,110 after rising above 1,116.
Asian stock market, economy and companies update (May 19, 2010)
Asian equity markets tracked the renewed risk aversion that resurfaced in the latter half of the US session, sinking the Dow by over 1% and S&P500/Nasdaq by about 1.5% on disconcerting news of Germany banning naked short selling of govt debt and shares of financials. Nikkei225 fell to 3-month lows of 10,050 - a near 2% drop before recovering to a -1% decline entering the final hour. S&P/ASX and Kospi markets remained depressed around the lows made in the opening hour, falling 1.5%, while Taiwan's Taiex was down 0.6%. Respite in govt action on property sector and some bargain-hunting supported Shanghai Composite to a +0.3% gain. Ahead of the US Wednesday session and the release of CPI data - on the heels of a negative PPI print overnight - front-month S&Ps are down 0.7% around 1,112 after falling as far as 1,106.
Asian stock market, economy and companies update (May 18, 2010)
Despite the last-hour bounce in the US that saw indices turn in a positive close, Asian equities maintained a slightly more bearish tone amid further concerns of fiscal strains in Europe sinking emerging market demand. With just about 2 hours to go in Tokyo trading, Nikkei225 is the only gainer at +0.5% after rising by over 1% in the first hour. Taiwan and ASX200 are down about 0.1%, while Shanghai and Korea indices are off by over 0.5%. With a fresh set of US housing data on tap on Tuesday, front-month S&Ps are also down about 0.1% at 1,133 after initial rally to 1,138.
Asian stock market, economy and companies update (May 17, 2010)
Asian equity markets are sliding sharply to start the week, tracking more broad selling in the US on Friday. Uncertainty over the effectiveness of the EU bailout package that briefly revived buying sentiment early last week remains at the heart of the prevailing bearish sentiment, coupled with fear of austerity across Europe depressing consumer demand for emerging markets goods further igniting risk-aversion flows. Entering the final hour of Tokyo trading, Nikkei225, the Taiex, and ASX200 are all down 2-2.5%, while Shanghai Composite and the Kospi are down nearly 3%. Ahead of the Monday open, front-month S&Ps are also down about 1%, falling about 15 handles to 1,120 session lows.
Asian stock market, economy and companies update (May 13, 2010)
Asian equity markets are in the green across the board as Wednesday's risk appetite in the US indices following a day of respite on Tuesday is helping erase last week's collapse. Tech export heavy Nikkei225 and Taiwan's Taiex are seeing the biggest gains of just over 2.2%, Korea's Kospi and Sydney's ASX200 are close behind at +1.5%, and even the Shanghai market is seeing a modest bounce of 0.8%. Ahead of the Thursday session, front-month S&Ps are up a marginal 0.1% just above 1,170. Overnight, Cisco exceeded estimates on top and bottom line, reporting Q3 $0.42 v $0.39e, Rev $10.4B v $10.2Be and also guiding Q4 Rev +25-28% y/y (implies R$10.6-10.9B v $10.6Be). Despite the record level revenue, a drop in y/y GM weighed on the stock afterhours to the tune of a 2% drop.
Asian stock market, economy and companies update (May 12, 2010)
Asian equity markets are mixed, tracking the seesaw of the US session that saw both the S&P500 and the Dow close down 0.3% after rising to positive territory in midday trade. Despite the strong set of earnings overnight from Tokyo - most notably an unexpected operating profit for the FY from Toyota - Nikkei225 is down 0.2% entering the final hour. Taiwan and Sydney bourses are up about 0.3%, the Kospi is flat, while Shanghai remains weighed down by property market concerns. With US trade data on tap for the Wednesday US session, front-month S&Ps are weaker by 0.9% at 1,142.
Asian stock market, economy and companies update (May 11, 2010)
Asian equity markets are turning cautious once again, with mixed monthly economic data out of China raising fears of tighter policy/currency actions weighing on sentiment already prone to profit-taking following strong stock gains across the globe. Entering the final hour of Tokyo trading, Nikkei225 is at session lows, down 0.9%. Elsewhere, S&P/ASX is off 0.8%, while the Kospi and the Taiex are down around 0.5%. After 4.4% cash-market rally in S&P500, front-month contract is off 0.5%, just above 1,150.
Asian stock market, economy and companies update (May 10, 2010)
Asian equity markets are in rally mode as European Union, IMF, and the ECB join forces not only to bail out Greece but contain the sovereign crisis contagion from spreading further across Europe. With just about 90 minutes left in Tokyo trading, Nikkei225 and the Kospi are up about 1.5%, S&P/ASX is up 1.9%, while the Taiex is up 0.9%. Shanghai Composite remains the conspicuous underperformer, falling 0.6%, as concerns over govt steps to restrain the property market bubble and worries about slower growth later in the year weigh on investment sentiment. Ahead of the Monday session, S&P and Dow Jones futures are also suggesting extreme optimism, with 2.8% and 2.3% front-month rallies in respective contracts.
Asian stock market, economy and companies update (May 07, 2010)
Asian equity markets are tracking the extreme panic selloff in the US bourses, where the Dow at one point fell by nearly 10% below 10,000 mark amid rumors of "fat-finger" trades and other technical malfunctions. Afterhours, the reports prompted the Nasdaq and NYSE to bust all trades 60% away from price levels around 2:40pmET amid growing speculation of a closer regulator look at program trading. Dow recovered off those final hour lows, but still fell just over 3% on the day. In the final hour of Tokyo trading, Nikkei225 is down 3.1% after falling by over 4% in the first hour. Elsewhere, Korea and Sydney markets are down by over 1%, while Taiwan and Shanghai are falling over 0.5%. Ahead of Friday's non-farm payrolls data expected to revive some market optimism, front-month S&Ps are up 0.3% around 1,126.
Asian stock market, economy and companies update (May 06, 2010)
Asian equity markets remain in the red across the board, as violent protests of further austerity steps in Greece continued to cloud the future of the Eurozone, shrugging the first positive ADP jobs print since mid-2008 in the US. Nikkei225, reopening for the first time since Friday, was in for a rude awakening. Entering the final hour of Tokyo trading, the index is down over 3.3% below 10,700 - near 2-month low. Elsewhere, Sydney, Shanghai, and Korea markets are down about 2.2%, while the Taiex - the bigger loser in prior session - is off by 1.5%. With just one session ahead of the pivotal US non-farm payrolls report, front-month S&Ps attempted a rally to 1,167, but have since retreated to unchanged levels around 1,164.
Asian stock market, economy and companies update (May 05, 2010)
Plummeting confidence in the Greek relief package as well press speculation the fiscal worries may become more prevalent in Spain accelerated the Euro freefall below 1.2950, while also weighing heavily on US indices. Following a 2% drop in the Dow and 3% decline in the Nasdaq, Asian bourses are down sharply as well. S&P/ASX and Shanghai Composite are down about 1.3%, while tech heavy Taiex is down nearly 3%. Nikkei225 is still closed for Golden Week holiday, but may be poised for a steep drop upon reopening tomorrow. Ahead of Wednesday US session and the ADP April jobs report, front-month S&Ps are still down by just 0.1% at 1,171.
Asian stock market, economy and companies update (May 04, 2010)
Asian equity markets are shrugging the broad-based rally seen in the US session, as worries about miners' ability to cope with higher taxes and higher rates in Sydney as well as higher capital reserve requirements in China weighed on sentiment. S&P/ASX traded down to session lows after RBA decision to tighten interest rates, falling 0.6%. In China, Shanghai Composite reopened lower by over 2% at worst levels since September of 2009 following the weekend reserve requirement ratio tightening by the PBOC, before paring those losses to trade down about 1%. Note the China equities were closed in the prior session. Elsewhere, Korea's Kospi and Taiwan's Taiex were down marginally, while Nikkei225 index remained closed. Ahead of Tuesday US session, front-month S&Ps are trading near unchanged levels at 1,198.
Asian stock market, economy and companies update (April 30, 2010)
Asian equity markets are near-unanimous to end the week with an upmove, tracking a rebound of over 1% in S&P500 and the Dow Jones Industrial Avg. Entering the final hour of Tokyo trading - Nikkei225 returned from holiday with a 1.1% move. The Kospi and S&P/ASX are up by just over 0.5%, while Shanghai Composite and the Taiex are dragged down by fresh speculation of govt curbs on housing, losing 1.0% and 0.1% respectively. Ahead of the US Friday session and the release of Advance GDP, front-month S&Ps are down about 0.2%. Note, the US equity futures fell precipitously following WSJ speculation the US federal prosecutors are conducting a preliminary stage criminal probe into whether Goldman Sachs management or employees committed securities fraud in relation to mortgage trading.
Asian stock market, economy and companies update (April 29, 2010)
Despite another S&P downgrade in the EU during the US hours - this time a one notch move on Spain to AA - the risk trade is holding up slightly better relative to the freefall of the prior session. US markets finished slightly higher by 0.5%, boosted by the Fed statement that saw virtually no change in its commitment to low policy for extended period. Nikkei225 was closed on the session. KOrea's Kospi and the S&P/ASX are both down about 0.5%, Taiwan's Taiex is nearly flat, while Shanghai Composite is up a modest 0.2%, benefiting from IMF boost on Asia. Ahead of the Thursday US open, front-month S&Ps are down a marginal 0.1% at 1,189.
Asian stock market, economy and companies update (April 28, 2010)
Asian equity markets opened sharply lower, tracking the near-2% drop in the Dow and the Nasdaq as well as the near-2.5% contraction in the S&P500, as risk aversion permeated across asset classes following S&P downgrade of Portugal and Greece. Entering the final hour of Tokyo trading, Nikkei225 is off by just over 2% after falling as much as 3% earlier in the session. Taiwan's Taiex, the Kospi, and S&P/ASX are down about 1%, while Shanghai Composite is lower by 0.3%, supported technically by an 18-month low below 2,900 tested briefly in the prior session. Ahead of Wednesday's US session and the FOMC decision, front-month S&Ps are up a marginal 0.1% at 1,182.
Asian stock market, economy and companies update (April 27, 2010)
Asian equity markets are near unchanged levels despite starting lower, as strong Korea GDP and solid guidance from Japan's shipping names helped counter more property-sector related bearishness seen out of China. Entering the final hour of Tokyo trading, Nikkei225, Taiwan's Taiex, the Kospi, and S&P/ASX are all near unchanged levels. Shanghai Composite is underperforming significantly however, falling over 2.1% as fears of property taxes and tighter monetary policy linger on sentiment. Ahead of the busy pre-market US earnings session that will include names like ADP, Ford, 3M, Tyco, UPS, and US Steel, front month S&Ps are up a marginal 0.1% at 1,209.
Asian stock market, economy and companies update (April 26, 2010)
Asian equity markets are in the green across the board, staging a catch-up rally to Friday US index gains following a strong set of housing data. Entering the final hour of Tokyo trading, Nikkei225 is leading the charge with a near 2% gain, helped by improvement in Corporate Service Price Index data and a weak Yen currency. Taiwan's Taiex is up 1.9%, Korea's Kospi is up 1.2%, and Sydney trading is closed for the session. Shanghai Composite, while still up a modest 0.1%, is visibly impacted by govt steps to contain the rising housing prices. With the US earnings season expected to shift into higher gear this week, front-month S&Ps point to a slightly higher open with a 0.1% gain.
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US stock market daily report (September 02, 2010,Thursday)
Wall Street investors remained cautious today as the latest news on job recovery did little to boost spirits. Today's report on unemployment was better than analysts' expected, but still more sluggish than they would like. Despite the slow recovery in the troubled job markets, analysts' say that the labor market is recovering better than it has in the past. In the worst time during the recession the unemployment rate hit a staggering 10.1%, the rate has since dropped to 9.5% according to recent reports. That is the quickest recovery seen throughout the years. If you look back through the numbers over the past recession, they proof is there to support it. After the 1990 recession ended, the economy shed another 300,000 throughout almost the whole year following.
US stock market daily report (September 01, 2010, Wednesday)
Stocks rallied in the first trading session in September, with the Dow being up triple digits. Thanks to a better than expected report on manufacturing, all three major indexes were on the rise. Typically in September, stocks post losses for the month. Investors say that maybe this year's September was in August. Stocks took a big hit in August; all three major indexes reported pretty significant losses. Coming in first was the Nasdaq; the index lost 6.2% in August, the Standard & Poor's 500 index is down 4.7% and the Dow Jones Industrial Average lost 4.3%. Recently when economic reports are released and they are better than expected stocks rise. Investors are looking for any positive news on the economy. They have feared throughout the summer that the economic recovery is headed towards a stand still. Analysts believe that the market will more than likely continue to fall overall. Despite the weary report from ADP stocks continued to rise. ADP is a payroll processing firm whose report is used as a way to tell what kind of report we will get from the Labor Department in their weekly report on the job market. ADP reported that employers cut 10,000 jobs in August, down from the 37,000 jobs added in July.
US stock market daily report ( August 31, 2010, Tuesday)
It was reported today that the amount of U.S. Banks in trouble is at a high that hasn't been seen since 1993. In a government report, the number of banks that have a possibility of filing doubled since last year. In the Federal Deposit Insurance Corp's quarterly survey, it showed an increase by 53 banks, taking the overall number to 829 banks being watched to fail. Just because the FDIC is watching these banks doesn't necessarily mean the financial institution will fail, it is just struggling. Few banks on the list actually get to that point; only 13% of banks on the list close. Last year the FDIC list reached 416, but in the first quarter of 2010 it rose to 775. In the report, it showed that 118 financial institutions have closed this year, and 45 of them were closed just in the second quarter.
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| USA Stocks Recommendations |
Intel Corp. (Nasdaq:INTC) is poised to top estimates over the next two quarters, 8 September 2009
Intel Corp. (Nasdaq: INTC) is a cyclical company. That is, its stock does extremely well when the economy is ready to accelerate, and does poorly when the economy decelerates. So it’s no wonder that last year the stock fell more than 50% from the record-high of $27.78 a share it reached December 2007. However, the company has rallied more than 50% from its Feb. 23 low of $12.08 a share. It closed Friday at $19.64.
Verint Systems price target reduced, 7 December 2007
RBC Capital Markets reduced its price target on Verint Systems from $34 to $25.
Thomas Weisel upgraded Intel to "overweight", 6 December 2007
Thomas Weisel Partners analyst Kevin Cassidy lifted price target on Intel shares from $28 to $33 per share, citing an expected jump in computer demand during 2008.
| | USA News |
Employment Situation: Tone is Improving, But Robust Gains Not Here Yet, 6 September 2010
Jobless Claims Continue to Hold at an Elevated Level, 3 September 2010
Looking Further Into The Job Market, 3 September 2010
Factories Are Humming Along, Albeit Not at a Robust Pace, 2 September 2010
Tax Rates, Business Investment, Personal Saving Rates: We Report, You Decide, 1 September 2010
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