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The Earth Times Online Newspaper (Free subscription) | 08/21/2008
By Walter BrandimarteNEW YORK (Reuters) - U.S. stocks fell on Thursday as fears of more credit losses in the financial sector jolted investors, while soaring oil prices fueled concerns that consumer spending may further slow down.JPMorgan Chase & Co and insurer American International Group Inc were among the biggest drags on the S&P 500 as analysts forecast more mortgage-related write-downs...
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The Earth Times Online Newspaper (Free subscription) | 08/20/2008
By Walter BrandimarteNEW YORK (Reuters) - Stocks were slightly higher in choppy trade on Wednesday as strong results from Hewlett-Packard triggered a rally in the technology sector that offset a slump in shares of Fannie Mae and Freddie Mac to more than 17-year lows.HP's quarterly profit rose a forecast-beating 14 percent, raising hopes that demand from abroad will support technology...
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The Earth Times Online Newspaper (Free subscription) | 08/20/2008
By Walter BrandimarteNEW YORK (Reuters) - Stocks were little changed on Wednesday as strong results from Hewlett-Packard triggered a rally in the technology sector, but shares of Fannie Mae and Freddie Mac slumped to more than 17-year lows on fears the companies may need a government bailout.HP's quarterly profit rose a forecast-beating 14 percent, raising hopes that demand from abroad...
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The Earth Times Online Newspaper (Free subscription) | 08/19/2008
By Walter BrandimarteNEW YORK (Reuters) - Stocks fell more than 1 percent on Tuesday as financial shares declined on renewed credit worries and a report showed inflation is still a threat to the economy, despite the economic slowdown.Shares of financial companies were the biggest drag on the Dow and the S&P 500, with Bank of America and Wells Fargo sliding about 4 percent each and the...
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The Earth Times Online Newspaper (Free subscription) | 08/12/2008
By Walter BrandimarteNEW YORK (Reuters) - Renewed credit concerns knocked down shares of the major U.S. banks on Tuesday, driving the Dow and S&P 500 lower, and offsetting a decline of $1 in the price of the barrel of U.S. crude oil.JPMorgan Chase & Co's shares slumped nearly 7 percent, becoming the biggest drag on both the Dow and the S&P 500, after the third-largest U.S. bank said it...
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The Earth Times Online Newspaper (Free subscription) | 08/08/2008
By Walter BrandimarteNEW YORK (Reuters) - Stocks jumped on Friday as the U.S. dollar's rally helped push oil prices down to nearly $116 a barrel, reducing inflation fears and improving prospects for stronger business and consumer spending.A slide of nearly $4 in U.S. crude oil prices overshadowed earlier news that Fannie Mae , the biggest buyer of U.S. home mortgages, had posted a steeper-than-expected...
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The Earth Times Online Newspaper (Free subscription) | 08/07/2008
By Walter BrandimarteNEW YORK (Reuters) - Stocks fell on Thursday as insurer American International Group and Citigroup weighed on the financial sector, while lower-than-expected July sales by Wal-Mart Stores Inc raised concerns about consumer spending and profit outlook.Shares of AIG sank 17.5 percent, their biggest fall in more than two decades, as the world's largest insurer posted...
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The Earth Times Online Newspaper (Free subscription) | 08/05/2008
By Walter BrandimarteNEW YORK (Reuters) - Stocks rose on Tuesday as a tumble in the price of oil tempered inflation concerns, reinforcing expectations that the Federal Reserve will keep interest rates unchanged at its meeting later in the day, despite calls for higher rates among some board members.Shares of planemaker Boeing jumped almost 5 percent and were the biggest boost on the Dow...
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The Earth Times Online Newspaper (Free subscription) | 08/01/2008
By Walter BrandimarteNEW YORK (Reuters) - Wall Street was seen opening higher on Friday after a government report showed U.S. employers cut payrolls less than predicted in July, offsetting a hefty quarterly loss by General Motors.The U.S. Labor Department said 51,000 non-farm jobs were eliminated, fewer than the 75,000 forecast by economists in a Reuters poll. It also revised data for...
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The Earth Times Online Newspaper (Free subscription) | 08/01/2008
By Walter BrandimarteNEW YORK (Reuters) - U.S. stock futures pointed to a flat open on Friday on investor caution ahead of a key jobs report for July and news that General Motors posted a hefty quarterly loss.GM, the No. 1 U.S. automaker, posted a second-quarter loss of $15.5 billion, or $6.3 billion excluding one-time items -- much worse than analysts had forecast. Its shares fell 6.1...
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The Earth Times Online Newspaper (Free subscription) | 07/31/2008
By Walter BrandimarteNEW YORK (Reuters) - Stock index futures pointed to a sharply lower open on Thursday after data showed the U.S. economy grew less than expected in the second quarter and weekly jobless claims surged, reviving recession fears.The economic data offset positive quarterly results from Motorola Inc , as well as news that Starbucks Corp had stuck by its 2009 profit target...
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The Earth Times Online Newspaper (Free subscription) | 07/31/2008
By Walter BrandimarteNEW YORK (Reuters) - Stock index futures were higher on Thursday after positive quarterly earnings from Motorola and on expectations for an improvement in a key second-quarter reading of U.S. gross domestic product.A decline of about 80 cents in U.S. crude oil prices also supported investor sentiment, as well as news that Starbucks Corp stuck by its 2009 profit target.Economists...
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The Earth Times Online Newspaper (Free subscription) | 08/01/2008
By Walter BrandimarteNEW YORK (Reuters) - Wall Street could be in for more volatility next week as investors brace for a new batch of key earnings reports and the U.S. Federal Reserve's assessment of the economy.A slightly positive but extremely mixed bag of corporate earnings so far, coupled with choppy oil prices, has had the market on a roller-coaster ride.After General Motors' $15.5...
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The Earth Times Online Newspaper (Free subscription) | 08/01/2008
By Walter BrandimarteNEW YORK (Reuters) - Wall Street could be in for more volatility next week as investors brace for a new batch of key earnings reports and the U.S. Federal Reserve's assessment of the economy.A slightly positive but extremely mixed bag of corporate earnings so far, coupled with choppy oil prices, has had the market on a roller-coaster ride.After General Motors' $15.5...
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The Earth Times Online Newspaper (Free subscription) | 08/01/2008
By Walter BrandimarteNEW YORK (Reuters) - Stocks fell on Friday as hefty losses by General Motors and a report showing U.S. employers cut jobs for the seventh straight month in July added to concerns about the impact of the credit crisis on the economy and the outlook for corporate profits.The Nasdaq fell more than 1 percent as the biotechnology sector sold off. Shares of Biogen Idec...
