Recent signs that the world's biggest economy may be sliding into recession unsettled European and Asian stocks on Friday, and helped push the dollar to a near three-week low versus a basket of currencies.Adding to worries was news that thousands of Turkish troops have crossed into northern Iraq in their hunt for Kurdish PKK guerrillas -- the first major incursion in a decade that is set to heat up the geopolitical scene.U.S. data on Thursday showing mid-Atlantic factory production slumped to its lowest level since the 2001 recession, and an index of future U.S. economic activity pointed to even tougher times ahead had sparked a global selloff in stocks.After the previous session's sharp fall though, Wall Street looked set for a steadier start on Friday with U.S. stock futures trading just a touch lower.The FTSEurofirst 300 index of top European shares fell 0.4 percent while London's FTSE shed 0.2 percent. Germany's DAX was 1.2 percent lower, further weighed by disappointing profits fr
Rihanna, the rising pop, R&B and reggae singer, is celebrating her birthday today. The Barbados-born singer, whose full name is Robyn Rihanna Fenty, turns 20 years old. Last week Rihanna won a Grammy award for her hit Umbrella, a collaboration with rap artist Jay-Z.
Because Rihanna is connected to several publicly traded companies through [...]
Most stocks trading under $10 probably traded much higher at one point or another. Trading below that price point is usually not a badge of honor. But,...
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By Jennifer Coogan NEW YORK (Reuters) - U.S. stocks rose on Monday, recovering from last week's losses, as bargain-hunting and takeover talk sparked gains in the technology sector and a rise in crude oil futures lifted energy stocks. A 6 percent gain in General Motors Corp's stock helped the Dow offset a drop in shares of American International Group Inc. The world's largest insurer received a rebuke from its auditors for how it valued some credit derivatives, sending it shares down 11 percent. Nasdaq was outpacing gains in the Dow and S&P, led by Apple Inc and Research in Motion, maker of the BlackBerry device. Both stocks had fallen more than one-third from their 2007 highs, making them attractive bargains, traders said. "Tech is the trade right now. They're picking the ones that have been beaten down the most. They're not as toxic as financials and housing," said Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey. The Dow Jones industr
By Catherine Bosley MUMBAI (Reuters) - The rupee fell to three-week lows on Monday, tracking losses in the stock market where global jitters and a dismal debut by Reliance Power dampened investor sentiment, dealers said. The partially convertible rupee ended at 39.695/705, its weakest close since Jan. 22, according to Reuters data, but up from an intra-day low of 39.745. It closed at 39.625/635 on Friday. "The past two weeks have been driven by performance of the stock market," said V. Rajagopal, chief foreign exchange dealer at Kotak Mahindra Bank, referring to the rupee's depreciation against the dollar in the last few sessions. "The Indian stock market has been tracking global markets, and its fall is definitely the prime motivator for the rupee's slide." Stock markets around the world took a beating on Monday, as worries about a deeper global economic slowdown turned investors jittery. Finance leaders from the Group of Seven major economies said at
MUMBAI (Reuters) - The rupee eased on Monday as traders watched a jittery stock market, shaky debut by Reliance Power Ltd and declines in some Asian indices, dealers said. At 9:55 a.m., the partially convertible rupee was at 39.63/64 per dollar, a touch lower than the previous close of 39.625/635, and near a two-week low of 39.685 hit on Feb. 6. "There's nervousness surrounding the stock market, and it's playing on the mind of dealers," said the chief dealer with a foreign bank. India's benchmark share index fell nearly 2 percent in early deals, declining for the fourth consecutive session. Reliance Power, which made India's biggest-ever initial public offering of $3 billion last month, fell more than 13 percent after debuting at its IPO price of 450 rupees. Oil and precious metals rose on supply concerns on Monday in thin holiday trade in Asia, while the few stock markets that were open, such as South Korea and Australia, unravelled on fear the credit crunch would s
Below are some of the news items affecting shares of biotech stocks: Alnylam Pharmaceuticals Inc. (NASDAQ: ALNY) is enjoying upgrades after a positive earnings...
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By Natsuko Waki LONDON (Reuters) - World stocks edged away from this week's two-week lows on Friday as a recent sell-off attracted investors looking for bargains, while major currencies held steady ahead of a meeting of Group of Seven finance chiefs. Higher crude oil prices on the back of expectations that cold U.S. weather would boost fuel demand supported energy stocks, while firmer commodity prices including gold and platinum underpinned emerging market assets. The six-month-old credit crisis has hit balance sheets of major investment banks exposed to the U.S. subprime mortgage sector, threatened to hit corporate profits and drag down the real economy. Such concerns briefly pushed some sectors of Wall Street this week into a bear market -- a cycle that starts when an index falls 20 percent from a recent market peak. While this presents good buying opportunities from a valuation point of view, investor sentiment remains fragile, putting the focus firmly on a weekend meeting
MUMBAI (Reuters) - The rupee slipped in afternoon trade on Friday, tracking see-sawing Indian equities, though dollar selling by exporters checked the local unit's decline, dealers said. * At 2:50 p.m., the partially convertible rupee was was at 39.602/612 per dollar, weaker than previous close of 39.535/545. * India's benchmark share index see-sawed on Friday, dipping into the red only to recoup those losses. It fell 3.4 percent on Thursday, weighed down by fears of a U.S. recession. * Japan's Nikkei index fell 1.4 percent on Friday. Markets in China, Hong Kong, South Korea, Taiwan, Singapore, Malaysia, and Indonesia were closed for the Lunar New Year holiday.
MUMBAI (Reuters) - The rupee inched higher on Friday, bolstered by gains in local stocks, though concerns about intervention by the Reserve Bank of India (RBI) weighed, dealers said. At 10:20 a.m., the partially convertible rupee was at 39.492/502 per dollar, moving up from the previous finish of 39.535/545. "The rise in stocks should attract some overseas interest, but fears that the central bank will move against the rupee are present," said a dealer with a foreign bank. Indian shares see-sawed at the start of trade on Friday, opening 0.5 percent up, dipping into the red and then recovering. Trading activity in Asia was muted due to the Lunar New Year holidays in most of the region, with markets in China, Hong Kong, South Korea, Taiwan, Singapore, Malaysia, and Indonesia closed until next week. The holidays crimped trading volumes in India's currency market, dealers said. India said on Thursday it expects economic growth at 8.7 percent in fiscal 2007/08, slower
TOKYO (Reuters) - Japanese stocks dipped on Friday, led by industrial robot maker Fanuc Ltd, after weaker-than-expected core private-sector machinery orders cast cloud over the economic outlook. As of 0004 GMT, the benchmark Nikkei average had fallen 0.2 percent at 13,181.75. The broader TOPIX index was flat at 1,304.68
NEW YORK (Reuters) U.S. stocks rose on Thursday, as relatively low share values tempted investors back into the market after a three-day losing streak that had pushed the Nasdaq into an official bear market, The Dow Jones industrial average was up 46.90 points, or 0.38 percent, at 12,247.00. The Standard & Poor's 500 Index was up 10.43 points, or 0.79 percent, at 1,336.88. The Nasdaq Composite Index was up 14.28 points, or 0.63 percent, at 2,293.03.
By Ellis Mnyandu NEW YORK (Reuters) - U.S. stocks fell in choppy trading on Thursday, led lower by technology shares after Cisco Systems Inc warned of slowing orders, heightening concern about an economic slowdown. Cisco, whose products form the backbone of many corporate communications networks, declined 2.5 percent, driving the Nasdaq composite index deeper into bear market territory. "Cisco's news is what started the breakdown in technology," said Victor Pugliese, director of listed equity trading at Broadpoint Securities in San Francisco. "In general, the market is very, very volatile ... there's a lot of uncertainty." The Dow Jones industrial average was down 30.57 points, or 0.25 percent, at 12,169.53. The Standard & Poor's 500 Index was down 1.08 points, or 0.08 percent, at 1,325.37. The Nasdaq Composite Index was down 8.48 points, or 0.37 percent, at 2,270.27. Stocks were on track for a fourth straight day of declines, and the Nasdaq composi
"There is nothing more frightful than ignorance in action!"Johann Wolfgang von Goethe (1749 - 1832)I don't really know how cars actually work ...Not really!I know how to drive them, but if you asked me how they work, I would not really know how to definitely explain it.That small technical limitation on my part doesn't stop me from knowing whether XYZ Autos is a quality company or not. I don't understand the cars they make, but I do understand XYZ Autos. Moreover, that understanding is critical to making a decision about the value of their stock.There are many good and objective ways to value stocks and improve your finances. These involve looking at various financial ratios. However, one of my simplest rules for investing is that you always must understand what you are buying!Haramis - Stock Brokers - Do You Have a Question? This is by no means original with me. It is a basic part of fundamental analysis!How deeply you must research in order to understand a company before you invest i
Mylan Inc. (NYSE: MYL) has been removed from the Goldman Sachs Conviction List, although the firm is not downgrading its official rating. Goldman Sachs has...
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Penny stocks are shares that trade in stock markets from a fraction of a penny up to several dollars.They are much riskier than the average investments, but sometimes can have a rewarding potential. Indeed, a few penny stocks have gone from i.e. 20 cents to $10.00, while others have become completely worthless.Many investors like penny stocks because it does not take a big cash outlay to get started.The upside of penny stocks is the ability to turn a small investment into a "fortune."The downside is the greater risk, big volatility of the shares, and the total lack of corporate transparency.There are many risks associated with trading penny stocks. In many cases these risks can be mitigated or avoided altogether, but there is always a great chance of losing money.Never buy penny stocks that you heard about for free:By far, the biggest danger to penny stock investors is free stock picks. They come by phone, through e-mail spam, and even by fax. In many cases, a carefully crafted and fos
LONDON (Reuters) - The raw sugar price could explode to 50 cents a lb if India does not retain substantial stocks, Jamal al-Ghurair, chairman of Dubai's Al Khaleej sugar refinery, said on Monday. "If we didn't have the Indian buffer stock, prices could go to 50 cents a lb," Al-Ghurair told a sugar conference. The Dubai Al Khaleej sugar refinery is the largest in the world. ICE March raw sugar futures were up 0.01 cents to 12.36 cents a lb on Monday. Al Ghurair said India needed stocks equivalent to at least two-thirds of its annual consumption -- or around 14 million tonnes -- to prevent disruption to sugar markets. "It's dangerous (dependence on Indian stocks). It's important to have stocks," he said. Current total Indian stocks stand at around 11 million tonnes, Vinay Kumar, managing director of India's National Federation of Co-operative Sugar Factories Ltd, told Reuters on the sidelines of the conference. Al Khaleej Sugar is a major sponsor of the
On Monday evening, we’ll get to see earnings out of Sohu.com Inc. (NASDAQ: SOHU). The estimates from First Call for the Chinese online search and advertising...
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By Ellis Mnyandu NEW YORK (Reuters) - U.S. stocks rallied on Monday as investors snapped up shares of financial companies and big manufacturers on hopes that the Federal Reserve would keep slashing interest rates to forestall an economic downturn. Fed policy-makers are due to announce a rate decision on Wednesday at the end of their two-day meeting, and investors are counting on lowered borrowing costs for businesses and consumers to stimulate economic activity. Shares of General Electric Co, seen as a proxy for the economy because of its diversified businesses, rose as did interest-rate sensitive companies, such as credit card provider American Express Co and Bank of America Corp. Shares of home builders were also among the standouts, with the Dow Jones home construction index up 3.73 percent. Government data showing a bigger-than-expected drop in new-home sales last month strengthened the argument for Fed rate cut, analysts said. Lower rates could ease the strain on mortg
By Ellis Mnyandu NEW YORK (Reuters) - U.S. stocks surged on Monday as investors snapped up shares of manufacturers and downtrodden banks after more weak housing data bolstered expectations the Federal Reserve will slash rates this week. A sharp drop in December new-home sales cemented the view that Fed policy-makers, following last week's emergency rate cut, will make another deep cut in interest rates on Wednesday after the conclusion of a two-day meeting. All three major stock indexes gained more than 1 percent. While the housing data in itself was unsettling, the prospect of lower interest rates coupled with a proposed $150 billion economic stimulus package helped lift shares of manufacturers like General Electric Co and home builders like Hovnanian Enterprises. The S&P financials index rose 2 percent, with index gainers outnumbering decliners by 6 to 1. It was the latest indication that investors are scouring the sector for bargains after months of relentless selling st
NEW YORK (Reuters) - U.S. stocks rose on Monday as investors snapped up shares of financial companies and big manufacturers on hopes that the Federal Reserve would keep slashing interest rates to forestall an economic downturn. The Nasdaq momentarily slipped into negative territory, dragged down by a decline in Google Inc and Apple Inc shares. Fed policy-makers are due to announce a rate decision on Wednesday at the end of their two-day meeting, and investors are counting on lowered borrowing costs for businesses and consumers to stimulate economic activity. The Dow Jones industrial average was up 75.44 points, or 0.62 percent, at 12,282.61. The Standard & Poor's 500 Index was up 13.29 points, or 1.00 percent, at 1,343.90. The Nasdaq Composite Index was up 7.38 points, or 0.32 percent, at 2,333.58.
By Ellis Mnyandu NEW YORK (Reuters) - U.S. stocks surged on Monday as investors snapped up shares of manufacturers and downtrodden banks after more weak housing data bolstered expectations the Federal Reserve will slash rates this week. A sharp drop in December new-home sales cemented the view that Fed policy makers, following last week's emergency rate cut, will make another deep cut in interest rates on Wednesday after the conclusion of a two-day meeting. All three major stock indexes gained more than 1 percent. While the housing data in itself was unsettling, the prospect of lower interest rates coupled with a proposed $150 billion economic stimulus package helped lift shares of manufacturers like General Electric Co and home builders like Hovnanian Enterprises. The S&P financials index rose 2 percent, with index gainers outnumbering decliners by 6 to 1. It was the latest indication that investors are scouring the sector for bargains after months of relentless selling st
TOKYO (Reuters) - Japanese stocks rose more than 2 percent on Tuesday, led by high-tech exporters such as Advantest Corp, after Wall Street rose on hopes for another U.S. interest rate cut. As of 0009 GMT, the benchmark Nikkei average was up 2.2 percent or 289.42 points at 13,377.33, after closing Monday down 4 percent. The broader TOPIX index added 2.7 percent to 1,327.87.
By Ellis Mnyandu NEW YORK (Reuters) - U.S. stocks rose on Monday on hopes the Federal Reserve would keep slashing interest rates to prevent the housing slump from tipping the economy into a recession. Trading was volatile, with the stock market initially struggling to advance after the market opened. But with Fed policy-makers due to decide on interest rates on Wednesday, investors pushed stocks higher after Friday's slide, counting on lowered borrowing costs for businesses and consumers to stimulate economic activity. Fed Chairman Ben Bernanke and top officials are scheduled to meet Tuesday and Wednesday to decide rate policy. Shares of General Electric Co, seen as a proxy for the economy because of its diversified businesses, rose as did interest-rate sensitive companies, such as credit card provider American Express Co. GE was up 1.3 percent to $34.45 while American Express gained 2 percent to $46.41. Responding to a global stock market rout early last week, the U.S.
By Jonathan Oatis NEW YORK (Reuters) - Wall Street stocks rose on Monday, escaping a slump in Asian and European shares on fears about the global economy, and helped by a fall in oil prices amid anticipation of another U.S. Federal Reserve interest rate cut. Expectations of a Fed rate cut on Wednesday -- which would be the second in a little more than a week -- pushed the dollar downward against most major currencies. While declines on European stock markets drove investors into safe-haven assets like bonds, generally driving prices higher there, U.S. Treasury debt fell as investors took profits after a six-month rally and U.S. stocks rose. Gold prices rose to record highs on the weakness in the dollar as well as a power shortage in South Africa, a major supplier of the yellow metal. U.S. stock indexes were up in a volatile session that began with shares falling. The Dow Jones industrial average was up 69.59 points, or 0.57 percent, at 12,276.76. The Standard & Poor's 500
Acorda Therapeutics inc. (NASDAQ: ACOR) showed late stage trial results on its drug candidate Fampridine-SR for treating multiple sclerosis. This data showed...
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2008 is turning out to be a wacky year. If you are new to trading and investing this is far from the norm. Statistics vary depending on what day of the week it...
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TOKYO (Reuters) - Japanese stocks rose more than 2 percent on Thursday after a Wall Street rebound on optimism that a rescue plan for U.S. bond insurers may be in the offing, with exporters such as Canon Inc surging. A draft of Japanese ruling party emergency stock proposals obtained by Reuters included calls for tax breaks on capital gains and dividend income, and for the Bank of Japan to reintroduce zero interest rates and quantitative easing. At 0011 GMT the benchmark Nikkei was up 2.1 percent at 13,101.17, a gain of 272.11 points. The broader TOPIX was up 2.17 percent at 1,276.98.
By Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks snapped a five-day losing streak on Wednesday, with the Dow surging nearly 300 points on optimism that a government plan to rescue ailing bond insurers is taking shape and could prevent billions more in credit losses. The market also drew support from growing confidence that aggressive interest-rate cuts by the Federal Reserve could help stabilize the economy and support the beleaguered banking sector. Shares of insurers Ambac Financial Group Inc and MBIA Inc, which backstop many of the riskier bets banks and their customers have made in credit markets, surged 63 percent and nearly 36 percent, respectively. News of a meeting between New York regulators, bond insurers and their customers lifted the market out of negative territory in late afternoon, pushing the Dow and S&P up more than 2 percent by the close. That marked a sharp turnaround from earlier in the day, when the Dow and the S&P were each down more than
By Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks dropped for a sixth straight session on Wednesday, led by the Nasdaq's 3 percent slide as profit forecasts from Apple Inc and Motorola added to recession fears. The Nasdaq's slide pushed the index for a second day across the threshold that signals a bear market, which is a drop of 20 percent or more from a recent closing high. The Nasdaq Composite Index was down 69.27 points, or 3 percent, at 2,223.00. The Dow Jones industrial average was down 149.49 points, or 1.25 percent, at 11,821.70. The Standard & Poor's 500 Index was down 21.57 points, or 1.65 percent, at 1,288.93.
NEW YORK (Reuters) - U.S. and European stocks slid on Wednesday, hammered by persistent worries about a U.S. recession, one day after the Federal Reserve's surprise interest rate cut boosted global markets. Safe-haven government bonds and the yen, which tend to rise as investors pare risky trades, gained ground. Commodities, including oil, sagged on nagging fears that slower global growth will hurt demand. European stocks closed at their lowest level in 1-1/2 years on Wednesday, as fears of more mortgage-related write-downs again hit bank shares. In the United States, all three major stock indexes fell more than 1 percent as disappointing outlooks from technology leaders Apple Inc and Motorola Inc added to recession fears. "When the Fed cuts 75 basis points, stocks are supposed to go up," said T.J. Marta, fixed income strategist at RBC Capital Markets. "That's not happening. There's a lot of dread out there." The Dow Jones industrial average was down 186.15 po
By Caroline Valetkevitch NEW YORK (Reuters) - U.S. stocks slid for a sixth session on Wednesday, led by the Nasdaq's drop of more than 3 percent as profit forecasts from Apple Inc and Motorola added to recession fears. For the second day, the Nasdaq crossed the threshold that signals a bear market. The Dow and S&P 500 were each down more than 2 percent. After Tuesday's closing bell, Apple forecast a quarterly profit below analysts' expectations and reported disappointing holiday-season iPod shipments. Apple's stock sank 18 percent to $127.55 on the Nasdaq. Mobile phone maker Motorola Inc forecast a loss for the current quarter and said it expects a challenging year. Motorola shares lost 19 percent to $9.95 and ranked among the biggest percentage losers on the New York Stock Exchange. "You're having a massive shift taking place," said Steve Goldman, market strategist at Weeden & Co., in Greenwich, Connecticut. "All of those (sectors) that have led decline
NEW YORK (Reuters) - U.S. and European stocks fell on Wednesday as persistent worries about a U.S. recession undid the boost that Tuesday's surprise Federal Reserve interest rate cut gave to global markets. Safe-haven government bonds and the yen, which tend to rise as investors pare risky trades, gained ground. Commodities, including oil, sagged on nagging fears that slower global growth will hurt demand. The MSCI world equity index was down on the day and off 13.4 percent for the year, though just off a 15-month trough plumbed a day earlier. "The market is pricing in a recession," said Brian Gendreau, investment strategist at ING Investment Management in New York. "And, of the earnings, the market is focusing on the bad news because it confirms the market's predisposition." The Dow Jones industrial average and the Standard & Poor's 500 Index were down 0.3 percent while the Nasdaq Composite Index lost 0.8 percent. A weak profit outlook from iPod maker Ap
NEW YORK (Reuters) - U.S. stocks cut early losses on Wednesday as financial companies gained in the aftermath of Tuesday's interest rate cut by the Federal Reserve. The Dow Jones industrial average was down 79.09 points, or 0.66 percent, at 11,892.10. The Standard & Poor's 500 Index was down 9.80 points, or 0.75 percent, at 1,300.70. The Nasdaq Composite Index was down 27.12 points, or 1.18 percent, at 2,265.15.
NEW YORK (Reuters) - U.S. stocks slid at the open on Wednesday on recession worries and a weak profit outlook from iPod maker Apple Inc as the Nasdaq composite index crossed a bear market threshold. The Dow Jones industrial average was down 252.08 points, or 2.11 percent, at 11,719.11. The Standard & Poor's 500 Index was down 33.27 points, or 2.54 percent, at 1,277.23. The Nasdaq Composite Index was down 58.21 points, or 2.54 percent, at 2,234.06.
By Ian Chua LONDON (Reuters) - Persistent worries about a U.S. recession undid the boost that Tuesday's surprise U.S. interest rate cut gave to global markets, sending European stocks lower on Wednesday and setting the scene for a fall on Wall Street. Safe-haven government bonds and the yen, which tends to rise as investors pare risky trades, gained ground, while commodities including oil sagged on nagging fears that demand will be hurt by slower global growth. "The recovery in risk appetite after the Fed cut was only temporary," said Niels From, currency strategist at Dresdner Kleinwort in Frankfurt. "After digesting the news, markets have come to the conclusion that it will not resolve problems in the U.S. economy and this is weighing on the carry trade, supporting funding currencies like the yen." The Federal Reserve on Tuesday slashed its key federal funds rate by 75 basis points -- the largest cut in more than 23 years -- to 3.50 percent a week ahead o
By Kristina Cooke NEW YORK (Reuters) - U.S. stocks fell on Friday on concerns that a White House effort to boost the economy would not be enough to forestall a recession. Financial and telecommunications companies, including insurer American International Group and Sprint Nextel Corp, were among the top decliners on the S&P 500. The market erased its early gains after President George W. Bush called for a package of tax cuts and other measures totaling around $140 billion to shore up the fragile U.S. economy. Amid bleak reports on retail sales and other data suggesting a possible recession, Bush and the Democratic-led Congress are negotiating to see if they can reach common ground on a plan to prop up growth. "The package that the White House is talking about is really not very much," said Sam Rahman, portfolio manager at Baring Asset Management Inc. in Boston. "It's not enough, it would be better to have the Federal Reserve cut by 75 basis points to kicksta
NEW YORK (Reuters) - U.S. stocks extended gains on Friday, with the Nasdaq and S&P 500 indexes rising 1 percent along with the Dow. Stronger-than-expected consumer sentiment data along with earnings from IBM and General Electric Co helped fuel investor optimism. The Dow Jones industrial average was up 148.92 points, or 1.22 percent, at 12,308.13. The Standard & Poor's 500 Index was up 13.50 points, or 1.01 percent, at 1,346.75. The Nasdaq Composite Index was up 29.95 points, or 1.28 percent, at 2,376.85.
NEW YORK (Reuters) - U.S. stocks turned negative on Friday after initial news of a White House stimulus package raised doubts about how much of a boost it would give the economy. The Dow Jones industrial average was down 14.14 points, or 0.12 percent, at 12,145.07. The Standard & Poor's 500 Index was down 7.98 points, or 0.60 percent, at 1,325.27. The Nasdaq Composite Index was down 3.13 points, or 0.13 percent, at 2,343.77.
NEW YORK (Reuters) - U.S. stocks fell on Friday as details about a White House stimulus package raised doubts about whether it would provide enough of a boost to the economy. The Dow Jones industrial average was down 70.07 points, or 0.58 percent, at 12,089.14. The Standard & Poor's 500 Index was down 14.56 points, or 1.09 percent, at 1,318.69. The Nasdaq Composite Index was down 12.06 points, or 0.51 percent, at 2,334.84.
By C.J. Kurrien MUMBAI (Reuters) - The rupee ended steady on Friday with the market caught between concerns about capital outflows after a sharp fall in local shares, and medium-term prospects for the local unit that remained buoyant. The partially convertible rupee ended at 39.29/31per dollar, a shade stronger than the previous finish of 39.30/31, which was its lowest close since Jan. 8 according to Reuters data. It struck a decade-high of 39.16 in November. "If stocks tank again on Monday, the flows are going to stop, which will affect the rupee," said a dealer with a foreign bank. "But exporters are lined up to sell dollar holdings if the rupee weakens sharply," the dealer added. Indian shares fell for a fifth successive day as global gloom prevailed, with Friday's drop of 3.5 percent taking the market's losses for the week to 8.7 percent, its biggest weekly slide since May 2006. U.S. Federal Reserve Chairman Ben Bernanke told a congressional comm
NEW YORK (Reuters) - U.S. stocks opened higher on Friday as a higher-than-expected profit forecast from IBM and earnings from General Electric Co buoyed investor sentiment, a day after a sharp sell-off. The Dow Jones industrial average was up 98.77 points, or 0.81 percent, at 12,257.98. The Standard & Poor's 500 Index was up 7.14 points, or 0.54 percent, at 1,340.39. The Nasdaq Composite Index was up 13.77 points, or 0.59 percent, at 2,360.67.
On tonight's MAD MONEY on CNBC, Jim Cramer wanted go over a sell sector, the casinos. Cramer thinks that the casinos have to be sold. They have a property...
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Just found another one for all of you solar investment buffs;
Forbes has an article up today about solar stocks regaining losses
“Sector Snap: Solar Stocks Regain Losses
Associated Press 01.17.08, 2:01 PM ET
NEW YORK -
Investors sent solar-power stocks higher on Thursday, seeing the recent sell-off as a buying opportunity for major players.
Many solar shares have suffered [...]
The outlook isn't as bad as many investors fear, and there are ways to keep your investing plan on track. Money Magazine's Michael Sivy has a plan for defensive investing.By Michael Sivy, Money Magazine editor at largeJanuary 16 2008: 10:56 AM ESTNEW YORK (Money) -- At this point, the conventional wisdom is that the U.S. economy entered a recession in December, even though the actual evidence that a downturn has begun is quite limited. We won't really have crucial data until preliminary fourth-quarter GDP growth is reported later this month.It's likely, though, that the U.S. economy will be weak through the first half of 2008 - and possibly for most of the year.So the natural question is: How much further do stocks have to fall? Are the potential losses so big that investors should be making lots of changes to their portfolios?It's certainly sensible to be somewhat defensive, whether there's a full-fledged recession or simply a slowdown.Diversification is less important in a bull marke
NEW YORK (Reuters) - U.S. stocks finished sharply lower on Wednesday, the first trading day of 2008, after data showed a surprise contraction in manufacturing and oil surged to $100 a barrel, heightening concerns about the economy's outlook. Based on the latest available data, the Dow Jones industrial average dropped 220.86 points, or 1.67 percent, to close unofficially at 13,043.96. The Standard & Poor's 500 Index unofficially finished off 21.19 points, or 1.44 percent, at 1,447.17. The Nasdaq Composite Index slid 42.65 points, or 1.61 percent, for an unofficial finish at 2,609.63.
NEW YORK (Reuters) - India dominated a list of the best-performing stocks in 2007, according to an analysis of stocks in Russell Investment Group's global indexes released on Wednesday. A list of the top 100 stocks, based on total return, showed India with 41 of the top 100 and five of the top 6. China, represented by Inner Mongolia Yitai Coal Ltd, was at the top of the list. The stock returned 1,017 percent last year, according to Russell. The returns are calculated in U.S. dollar terms. Forty-eight of the top 100 stocks are based in the BRIC countries of Brazil, Russia, India and China, Russell said. Six of the stocks are U.S.-based companies. More than one-third of the top 100 stocks, 39, are in the materials and processing sector. The second-biggest gainer in 2007 was India-based Jai Corp Ltd, up 877 percent. Rounding out the top five were Reliance Natural Resources Ltd, up 823 percent, Ispat Industries Ltd, with a return of 742 percent, and Jindal Steel
By Jennifer Coogan NEW YORK (Reuters) - U.S. stocks sank on Wednesday, with the Dow getting off to its worst-ever start to a year, after data showed a surprise contraction in manufacturing and oil surged to $100 a barrel, raising the specter of stagflation. A broad range of sectors sensitive to energy costs and business cycles suffered on the day, contributing to the Dow's 220-point plunge and steep declines in the S&P 500 and the Nasdaq. United Airlines parent UAL Corp led transport stocks lower, falling more than 10 percent on the jump in oil prices, while Intel Corp dropped 5 percent after Bank of America downgraded the semiconductor group on growth concerns. Any hope for a New Year's rally was dashed early in the session after the Institute for Supply Management reported that factory activity shrank unexpectedly in December. The ISM data poses a quandary for the Federal Reserve, which must cope with rising prices while trying to stave off recession. Major manufacturer
NEW YORK (Reuters) - U.S. stocks bounced off their lows on Wednesday after comments from the Federal Reserve suggested the possibility of further interest rate cuts. Earlier stocks had dropped after U.S. manufacturing data showed signs of contraction and oil hit $100 a barrel. The Dow Jones industrial average was down 176.31 points, or 1.33 percent, at 13,088.51. The Standard & Poor's 500 Index was down 14.28 points, or 0.97 percent, at 1,454.08. The Nasdaq Composite Index was down 31.51 points, or 1.19 percent, at 2,620.77.
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