Wednesday, 14 September 2011 20:32
Posted by Imaduddin
NEW YORK: Global equities and the euro erased gains on Wednesday as optimism over favorable comments for the creation of euro zone bonds faded and lackluster data on US retail sales gave investors pause.
Wall Street opened higher, tracking gains in European equity markets, as investors welcomed signs of growing cooperation in Europe to tackle the region's debt crisis.
But investors soon realized comments by the president of the European Union's executive body that it was presenting options for euro area bonds may not be enough to snuff the crisis.
Separate data showed US business inventories rose slightly less than expected in July, suggesting firms remained cautious about future demand at the start of the third quarter.
"Huge market turmoil had an obvious impact on retail sales at the same time job hires remain lackluster," said Peter Boockvar, equity strategist at Miller Tabak Co in New York.
Growth in US retail sales stalled in August ...
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NEW YORK: Global equities and the euro erased gains on Wednesday as optimism over favorable comments for the creation of euro zone bonds faded and lackluster data on US retail sales gave investors pause.
Wall Street opened higher, tracking gains in European equity markets, as investors welcomed signs of growing cooperation in Europe to tackle the region's debt crisis.
But investors soon realized comments by the president of the European Union's executive body that it was presenting options for euro area bonds may not be enough to snuff the crisis.
Separate data showed US business inventories rose slightly less than expected in July, suggesting firms remained cautious about future demand at the start of the third quarter.
"Huge market turmoil had an obvious impact on retail sales at the same time job hires remain lackluster," said Peter Boockvar, equity strategist at Miller Tabak Co in New York.
Growth in US retail sales stalled in August ...
NEW YORK: US stocks fell on Wednesday, with the Dow and S&P 500 extending losses and the Nasdaq turning negative after an Austrian parliamentary committee failed to approve the European Financial Stability Facility upgrade.
The Dow Jones industrial average was down 94.57 points, or 0.85 percent, at 11,011.28. The Standard & Poor's 500 Index was down 8.15 points, or 0.69 percent, at 1,164.72. The Nasdaq Composite Index was down 7.80 points, or 0.31 percent, at 2,524.35.
Equities ...
NEW YORK: US stocks rallied at the open on Wednesday ahead of talks between the leaders of Germany, France and Greece aimed at averting a Greek default.
The Dow Jones Industrial Average climbed 66.98 points (0.60 percent) to 11,172.83 in the first five minutes of trading.
The broader S&P 500 rose 6.29 points (0.54 percent) to 1,179.16, while the tech-heavy Nasdaq Composite jumped 20.05 points (0.79 percent) to stand at 2,552.20.
The early gains came despite the downgrade ...
TORONTO: Toronto's main stock index fell sharply on Monday, almost touching a three-week low on mounting fears that the euro zone's debt crisis could undermine the global economic recovery.
The TSX finished more than 200 points lower, even as US stock markets staged a late-day rally, as investors cashed out of safe-haven bullion to cover losses elsewhere, hitting Toronto's gold-mining shares. Oil and copper prices also fell, pressuring the resource-heavy index.
"The gold sector used to ...
NEW YORK: US stocks closed higher on Monday, after making a healthy rebound from steep initial losses caused by worries about trouble in the eurozone and a possible Greek default.
The Dow Jones Industrial Average rose 69.22 points (0.63 percent) to 11,061.35 in closing trade.
The broader S&P 500 climbed 8.05 points (0.70 percent) to 1,162.28, while the tech-heavy Nasdaq Composite gained 27.10 points (1.10 percent) to stand at 2,495.09.
US stocks fell around one percent at the ...
