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April 30, 2007
by Elaine Frei
At midday in New York on Monday, the Dow Jones Industrial Average was fractionally higher to 13,125.73 after hitting a new high at 13,156.21 earlier in the session. The Nasdaq Composite, however, had dropped 0.2 percent to 2,551.95, while the S&P 500 was even at 1,494.04. Stock exchanges were higher on rumors of new deals in the sector. ...
by Elaine Frei
Despite gains early in the session, the US dollar had weakened by mid-afternoon trade in New York as new data on inflation in March came in lower than expected and the rate of business activity in the Midwest in April was not as vigorous as had been anticipated. Analysts said that if a survey of national manufacturing activity due Tuesday ...
by Elaine Frei
Metals prices were mostly up in early afternoon trade in New York on Monday. The main exception was July silver, which held steady at $13.58 per troy ounce. June gold was $1.70 higher to $683.50 per troy ounce, while July platinum had gained $5.40 to $1,298.40 per troy ounce.
Among base metals, July copper was trading 2 cents higher to $3.56 per ...
by Elaine Frei
Prices on US Treasury bonds were higher on Monday, sending yields lower as data indicated that inflation might be dropping closer to targets set by the US Federal Reserve. If the trend continues, some analysts say, the Fed could cut interest rates before the year is out. The Fed’s favorite measure of inflation, the Personal Consumption Expenditure (PCE) ...
April 27, 2007
by Elaine Frei
By early afternoon on Friday, Wall Street’s main indices had made slight gains. The Dow Jones Industrial Average was 0.25 percent higher to 13,138.09, while the Nasdaq Composite had added 0.07 percent to 2,556.13 and the S&P 500 was up 0.08 percent to 1,495.43. The software sector had seen gains, while at least one internet retailer was lower after ...
by Elaine Frei
Precious metals prices were mixed on Friday. June gold added $3.80 to $681.80 per troy ounce by early afternoon in New York, while July silver gained 12 cents to $13.58 per troy ounce. Platinum, however, was down by $10.60 to $1,293 per troy ounce. The threat of a strike next week in ...
by Elaine Frei
The US dollar weakened versus the euro on Friday after new figures showed that US economic growth was at only 1.3 percent in the first quarter of the year, half a percent less than had been expected.
At one point in the session, the greenback dropped to $1.3682 versus the euro, its lowest point since the shared currency was introduced in ...
April 26, 2007
by Elaine Frei
Equities markets in the Asia and Pacific regions saw gains on Thursday. The Sydney Ordinaries added 0.26 percent to 6,189.4 after taking a day off for the Anzac Day holiday. In India, the Sensex gained 0.08 percent to 14,228.88. Meanwhile, in Hong Kong, the Hang Seng index was 0.64 percent higher to 20,66 7.29, while the Straits Times Index ...
by Elaine Frei
Oil prices were lower on Thursday after comments from Ali Larijani, Iran’s chief nuclear negotiator, led to hopes that tensions between his nation and the West over Iran's nuclear program could ease soon. Larijani said, in a joint news conference with EU negotiators that the two sides were nearing a “united view” on some issues under discussion.
Brent crude for June delivery ...
by Elaine Frei
The New Zealand dollar declined on Thursday after the Reserve Bank of New Zealand decided to raise interest rates there by 25 basis points to 7.75 percent. Despite the rate hike, comments from the Bank did not include any references to further economic tightening. This was the first time recently that such comments were omitted from Bank remarks, raising hopes ...
by Elaine Frei
Prices on US Treasury bonds fell and yields rose slightly on Thursday after an auction of $13 billion in five-year notes drew average demand. Analysts said that there was no one single reason that prices were down, although some investors might be waiting to see the government’s first estimates of US gross domestic product in the first quarter, due on ...
April 25, 2007
by Elaine Frei
At midday on Wall Street on Wednesday, the markets were higher after the Dow Jones Industrial Average breached the 13,000 level for the first time in its history. The Dow was 0.45 percent higher by the middle of the session to 13,012.69, while the Nasdaq Composite had added 0.44 percent to 2,535.7 and the S&P 500 was up 0.48 percent to 1,487.58. ...
by Elaine Frei
Oil prices were higher on Wednesday after the weekly US inventories report from the Energy Information Agency produced results that surprised analysts and traders. While crude oil inventories had been expected to decline by 1.2 million barrels in the week ending April 20, they were up by 2.1 million barrels instead. Conversely, while analysts expected that gasoline inventories would ...
by Elaine Frei
The euro was at $1.3655 in relation to the US dollar at mid-morning in London, just below its record high of $1.3670, reached in December 2004. The euro was also 0.1 percent higher to ¥161.74 versus the Japanese yen. By mid-afternoon in New York, the European currency had dropped back a bit against the greenback, to $1.3642, while it was at ¥161.92 ...
April 24, 2007
by Elaine Frei
At midday in New York on Tuesday, markets were mixed. The Dow Jones Industrial Average was up 0.17 percent to 12,941.91, while the Nasdaq Composite had dropped 0.17 percent to 2,519.31 and the S&P 500 was 0.15 percent lower to 1,478.75. Earnings news again drove much of the activity on Wall Street, with most of the news good, ...
by Elaine Frei
Metals prices were down in early afternoon trade in New York on Tuesday. June gold dropped $6.70 to $687.50 per troy ounce, while May sliver fell by 27 cents to $13.78 per troy ounce. Platinum was $20.20 lower to trade at $1,311.50 per troy ounce. Among base metals, copper fell 8 cents to $3.56 per pound.
Meanwhile, profit-taking sent crude oil ...
by Elaine Frei
The Australian dollar saw declines on Tuesday after consumer price inflation data came in below what had been anticipated by analysts. Consumer price inflation was up by only 0.1 percent there in the first quarter of 2007, while it had been expected to be up by 0.6 percent. The Australian currency fell 1 percent in relation to both the US dollar ...
April 23, 2007
by Elaine Frei
Equities markets were mixed globally on Monday. In Europe, markets on the continent were lower. The FTSE Eurofirst 300 was 0.1 percent lower to 1,578.49. In Frankfurt, the Dax dropped 0.09 percent to 7,335.62, while the CAC-40 was down 0.36 percent to 5,917.32 in Paris. Carmakers were mixed on the session, while banks and the pharmaceuticals sector saw declines.
In ...
by Elaine Frei
Crude oil prices were higher on Monday amid concerns that Nigerian oil supplies could be disrupted after the presidential election there. International elections monitors have called the election a failure, citing accusations of vote rigging and demands for new elections from opposition parties there. June contracts for Brent crude added 63 cents to $67.12 per barrel, while ...
by Elaine Frei
The US dollar strengthened on Monday, but analysts were not convinced that conditions had turned dollar-positive for the long term. The dollar added 0.2 percent against both the yen and the euro, to ¥118.90 and $1.3560 respectively, while it added $1.9995 in relation to sterling, a gain of 0.1 percent. Meanwhile, the Australian dollar dropped 0.6 percent to ...
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