U.S. stocks staged an afternoon rally Wednesday, led by materials companies, though investors continued to eye several overseas trouble spots warily.The Dow Jones Industrial Average rose 89 points, or 0.7%, to 12108 in late afternoon trade, led by Alcoa, which rose 3.3%. The gains were kept in check by a 1.5% decline for Bank of America, which said the Federal Reserve didn't allow it to boost its dividend. Wal-Mart Stores also was weak, falling 0.8%, as was DuPont, down 0.4%.
US stocks defied odds on Wednesday to close slightly positive.
The Gold Price rose sharply against all major currencies on Wednesday, touching near-two-week highs against the Dollar even as the US currency rose amid fresh European debt and budget concerns.
So far, G7's intervention to weaken the yen has worked. However, USD/JPY may be a one-way bet.
At least three brokerages have cut the profit forecasts of Adobe Systems (NASDAQ: ADBE), a day after the software company reduced its second quarter outlook by $50 million.
The UK budget, which was unveiled on Wednesday, has revealed no significant changes to the deficit-reduction plans set out by the coalition Government just after last summer’s election, an analyst has commented.
U.S. stocks extended their losses on Wednesday after official data showed that sales of single-family houses in the US fell unexpectedly in February.
Sales of single-family houses in the US fell unexpectedly in February, showing continued weakness in the housing industry recovery.
UBS Securities upgraded its rating on shares of AOL Inc. (NYSE: AOL) to buy from neutral with a price target of $25. The brokerage attributed the upgrade on positive catalysts and compelling valuation.
Shares of companies active in Wednesday's early trade are: Jabil Circuit, Cree, Adobe, Veeco Instruments, XOMA, Tata Communications, China Southern Airlines Co., Cintas, Global Industries and Northern Oil & Gas.
U.S. stocks declined in early trade on Wednesday as renewed concerns over the euro zone’s sovereign debt crisis and higher than expected rebuilding costs in Japan weighed on the sentiment.
Apple said that Bertrand Serlet -- senior vice president of Mac Software Engineering -- will be leaving the company and would be replaced by Craig Federighi, who is currently the vice president of Mac Software Engineering.
RBC Capital Markets said the ultimate low in the U.S. equity markets might not have been reached, but a bottoming process has probably started. The brokerage said most of the technical indicators suggest that an intermediate-term low is near. Readings from sentiment, positioning and internal momentum indicators reveal much more damage under the hood than at the index level.
The companies whose shares are moving in pre-market trade on Wednesday are: Jabil Circuit, Pultegroup, Cintas, Bristol Myers Squibb, Textron, Netflix, Bank of America and Adobe Systems.
The top pre-market NASDAQ Stock Market gainers are: Cintas, Motricity, Sky-mobi, Infosys Technologies, and IncrediMail. The top pre-market NASDAQ Stock Market losers are: XOMA, Cree, Rubicon Technology, Veeco Instruments, and Aixtron AG.
Oral arguments for the Myriad Genetics, Inc. appeals case is set to begin April 4 with a possible written decision in June 2011, RBC Capital Markets said.
A U.S. judge's ruling has rejected Google's deal with publishers that would have digitized every book and made them widely available.
The top U.S. companies that are reporting earnings before the market opens on March 23 are: General Mills, Texas Industries, and Wonder Auto Technology. The top U.S. companies that are reporting earnings after the market close on March 23 are: Paychex, Red Hat, SAIC, Steelcase, HB Fuller, and OMNOVA Solutions.
Following is the update from Tokyo Electric Power Co (TEPCO) on Fukushima Daini nuclear power plant.
The top after-market NASDAQ stock market gainers are: Motricity, Cintas, Qiao Xing Universal Resources, Euronet Worldwide, and World Acceptance. The top after-market NASDAQ stock market losers are: XOMA, Double Eagle Petroleum, Solar Senior Capital, Ancestry.com, and United Therapeutics.
U.S. stocks pulled back in a sleepy session Tuesday as investors paused after a three day rally that helped the market regain ground after several weeks dominated by unrest in the Middle East and Japan's earthquake.
There is a clear sense of calm returning to the financial markets after the horrific earthquake in Japan and the leveling of the playing field in Libya. Though the damage associated with Japan’s earthquake is clearly immense, its economic impact will mostly be localized.
US stocks edge down as turmoil in the Middle East continues to rage on.
US stock slipped on the continued unrest in the Middle East and escalating tensions in Yemen.
Currently, crude oil prices are trading around $105 per barrel. Eugen Weinberg of Commerzbank estimates that $20 to $25 of it reflect fears of unrest in the Middle East.
A private lending sector, largely unfettered by government intervention, is booming in China.
Shares of companies active in Monday's early trade are: Walgreen, Canadian Pacific Railway, Netflix Inc., Express Inc., Molycorp and St. Jude Medical.
US stocks wavered between small gains and losses in early trade on Tuesday as investors watched with caution geopolitical developments in Japan and Libya.
The Euro price of Gold Bullion today slipped back to last week's finish just below €32,000 per kilo - reversing Monday's 1.0% rise - as the single currency hit new 6-month highs to the Dollar above $1.4240.
The companies whose shares are moving in pre-market trade on Tuesday are: Bristol Myers Squibb, Netflix, Aflac, Verizon Communications, Nordstrom, Akamai Technologies, Wynn Resorts, Frontier Communications, Walgreen and Suntrust Banks.