ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

US & World Daily Markets Financial Briefing
US & World Daily Markets Financial Briefing's columns :
07/23/2012US & World Daily Markets Financial Briefing 23-07-2012
07/20/2012US & World Daily Markets Financial Briefing 20-07-2012
07/19/2012US & World Daily Markets Financial Briefing 19-07-2012 >>
07/18/2012US & World Daily Markets Financial Briefing 18-07-2012

« EARLIEST ‹ PrevNext › LATEST »
US & World Daily Markets Financial Briefing – US & World Daily Markets Financial Briefing
A daily summary of financial news from the markets in the U.S. and Asia. Includes European outlook,Forex and Commodities data. Click here to receive or daily bulletins. News provided by AFX/Associated Press.

US & World Daily Markets Financial Briefing 19-07-2012

07/19/2012
ADVFN World Daily Markets Bulletin
  ADVFN III World Daily Markets Bulletin  
Daily world financial news Supplied by advfn.com
 
Find us on Facebook
 
    Thursday, 19 July 2012 10:44:18  
 
Earnings Season is Here! How to Play APPLE Q3 Earnings

Software tells you which way to play it! and It's Proven 91% Accurate.

Click Here and Find Out How!


US Market Reports

Wall Street Benefiting From Continued Tech Rally

Stocks have moved to the upside in early trading on Thursday, adding to the gains posted in the two previous sessions. The major averages have climbed into positive territory, moving back toward the highs seen earlier this month.

The major averages have pulled back off their highs for the young session in the past few minutes but remain positive. The Dow is up 31.90 points or 0.3 percent at 12,940.60, the Nasdaq is up 21.41 points or 0.7 percent at 2,964.01 and the S&P 500 is up 3.93 points or 0.3 percent at 1,376.71.

The markets are once again benefiting from strength among technology stocks, which posted substantial gains during trading on Wednesday.

Shares of IBM Corp. (IBM) are moving notably higher after the tech giant reported better than expected second quarter earnings growth. While the company's revenues fell short of estimates, IBM also raised its full-year earnings guidance.

Within the tech sector, electronic storage stocks are posting particularly strong gains in early trading. Reflecting the strength in the storage sector, the NYSE Arca Disk Drive Index has surged up by 2.8 percent, climbing further off Monday's nine-month closing low.

Semiconductor stocks are also seeing considerable strength, driving the Philadelphia Semiconductor Index up by 2.3 percent. The index is adding to the 3.6 percent gain it posted on Wednesday.

Outside of the tech sector, notable strength is visible among railroad, oil service and gold stocks. Union Pacific (UNP) is leading the railroad sector higher after reporting better than expected second quarter earnings.

Nonetheless, disappointing employment data may be limiting the upside for the markets, as the Labor Department released a report showing a bigger than expected rebound by jobless claims in the week ended July 14th.

The Labor Department said jobless claims jumped to 386,000 from the previous week's revised figure of 352,000. Economists had expected jobless claims to climb to 365,000 from the 350,000 originally reported for the previous week.

With the increase, jobless claims bounced off the four-year low set in the previous week, which was partly due to seasonal distortions.

In overseas trading, stock markets across the Asia-Pacific region moved higher on Thursday, benefiting from the overnight strength on Wall Street. Japan's Nikkei 225 Index advanced by 0.8 percent, while Hong Kong's Hang Seng Index surged up by 1.7 percent.

The major European markets have also moved to the upside on the day. While the U.K.'s FTSE 100 Index has edged up by 0.1 percent, the French CAC 40 Index and the German DAX Index are up by 0.9 percent and 1.1 percent, respectively.

In the bond market, treasuries have moved moderately lower amid the continued strength among stocks. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 3.2 basis points at 1.511 percent.


Switch to Scottrade and Get $100 Back


Canadian Market Report
To view the charts please add newsdesk@advfn.com to your contact list
CADUSDOilGoldAllbanc
Enable images to view CADUSD chart Enable images to view Oil chart Enable images to view Gold chart Enable images to view Allbanc chart
Please click on the images to view our interactive charts

TSX Jumps At Open Thursday

Toronto stocks opened higher Thursday amid buying in commodities, with the S&P/TSX Composite Index surging 87.44 points or 0.76 percent to 11,666.60

The Diversified Materials Index rose about 2 percent, with First Quantum Minerals adding nearly 3 percent. Inmet Mining and Teck Resources gathered around 2 percent each.

In the oil patch, Trican Well Services moved up 3 percent. Canadian Natural Resources and Crescent Point Energy were up around 2 percent each.

Among gold stocks, Detour Gold rose 3 percent. Agnico-Eagle Mines and Allied Nevada Gold added over 1 percent each. Shoppers Drug Mart Corp. moved up 2 percent after posting improved second-quarter net earnings.

Meanwhile, real estate company Madison Pacific Properties Inc. shed close to 5 percent.

The price of crude oil was steady above the $90-mark for the first time in seven weeks Thursday morning. Crude for August moved up $1.27 to $91.14 a barrel.

The price of gold was moving higher Thursday morning as the U.S. dollar was trading lower versus a basket of currencies amid weekly jobless claims data. Gold for August gained $16.60 to $1,587.40 an ounce.

In corporate news from Canada, Shoppers Drug Mart Corp. posted second-quarter net earnings of C$146 million or C$0.70 per share versus C$148 million or C$0.68 per share a year ago. Analysts were expecting the company to report earnings of C$0.70 per share. The company further declared a dividend of 26.5 cents per common share.

Grocery dealer Colabor Group Inc. reported improved second quarter net earnings of C$2.90 million or C$0.13 per basic share compared to C$1.68 million or C$0.07 per basic share last year. Analysts were expecting the company to report earnings of C$0.11 per share.

Fiberglass tank systems maker ZCL Composites Inc. Wednesday announced appointment of Kapul Gill as its Chief Operating Officer, effective September 10.

In economic news, Statistics Canada said wholesale sales rose 0.9 percent in May to $49.8 billion, largely due to higher sales in the computer and communications equipment and supplies industry, the motor vehicle industry and the food industry. In volume terms, wholesale sales were up 0.4 percent in May.


Trade Free for 60 Days at ETRADE Securities

Click here


European Market Report
To view the charts please add newsdesk@advfn.com to your contact list
FTSE 100EuronextDax perfCAC 40
Enable images to view FTSE 100 chart Enable images to view Euronext chart Enable images to view Dax perf chart Enable images to view CAC 40 chart
Please click on the images to view our interactive charts

European Stocks Higher At Mid-day Despite Weak Spanish Auction


European stocks held on to their early gains on Thursday despite a weak Spanish bond auction, which showed that the nation sold EUR 2.981 billion bonds compared with the EUR2- EUR3 billion target against a backdrop of rising yields.

With stronger housing data from the United States and China and better-than-expected earnings from IBM and eBay underpinning sentiment, the Euro Stoxx 50 index of eurozone bluechip stocks is currently up 0.72 percent, while the Stoxx Europe 50 index, which includes some major U.K. companies, is gaining 0.54 percent.

Around Europe, the U.K.'s FTSE 100 is up 0.27 percent, while France's CAC 40, the German DAX and Switzerland's SMI are gaining about half a percent each.

In stock-specific action, ADVA Optical Networking is climbing 5 percent in Frankfurt after the provider of intelligent telecommunications infrastructure solutions reported a significant increase in profit for the second quarter on the back of foreign currency exchange gains. Lender Deutsche Bank is declining marginally on a report that the lender is mulling cutting 1000 jobs in its investment banking division.

British lenders Barclays and HSBC Holdings are up 0.9 percent and 0.7 percent, respectively. A report from the Bank of England released today showed that lending to British businesses contracted in May as loans to small and medium-sized enterprises declined.

BP Plc is up 0.4 percent after the energy giant announced that it is moving on to the next stage in the process, required under the shareholder agreement, for the potential sale of its shareholding in TNK-BP.

Alstom SA is gaining 2 percent in Paris after the company said it expects orders to be sustained and sales to grow by more than 5 percent in the full year.

In economic releases, the eurozone current account surplus increased in May following a sharp decline in April, a report from the European Central Bank showed. The seasonally adjusted current account surplus rose to EUR 10.9 billion in May from EUR 5.5 billion in April and EUR 12.6 billion in March.

U.K. retail sales increased at a slower than expected pace in June, while Italy's industrial orders recovered as expected by economists in May, separate reports released today showed.

Elsewhere, Asian markets rose broadly, as gains in U.S. housing starts and strong earnings reports from U.S. tech majors eased worries about a sharp slowdown in corporate profit growth. The Dow futures point to a higher start on Wall Street as investors await data on jobless claims, existing home sales and the Philadelphia Federal Reserve's manufacturing index.


Trade free until 2013 with Tradestation


Asia Market Reports

Asian Stocks Rise On US Earnings, Stimulus Outlook

Asian stocks rose broadly on Thursday, as gains in U.S. housing starts and strong earnings reports from U.S. tech majors eased worries about a sharp slowdown in corporate profit growth. Fed Chairman Ben Bernanke reiterated his stance to use all tools to boost the economy if the situation gets worse and Chinese Premier Wen Jiabao vowed to make efforts to create more jobs as part of a development strategy to boost sagging economic growth, helping keep underlying sentiment positive.

The dollar remained under pressure as Bernanke offered a grim picture of the U.S. economy and kept hopes for more more stimulus measure alive. He played down the risks of a double-dip recession as the economy continued to expand at a moderate pace in June and early July. The Fed's Beige Book business survey released overnight showed employment levels improving at a tepid pace, while manufacturing activity continued to expand slowly in most districts.

Tokyo stocks ended higher, bolstered by gains in high-tech shares following a rally among their U.S. peers overnight on the back of Intel's upbeat comments on the corporate IT market. Better-than-expected earnings from EBM and eBay also reassured investors.

Advantest soared 6.5 percent, Dainippon Screen Manufacturing jumped 6.6 percent and Tokyo Electron rallied 3.6 percent. The benchmark Nikkei average rose 0.8 percent, while the broader Topix index ended 0.9 percent higher.

China-linked Komatsu rose 3.3 percent, helped by reports that China's biggest four banks doubled their pace of lending in the first half of July from a month earlier. Japan Tobacco gained 2.4 percent on a brokerage upgrade.

Tokyo Electric Power climbed 4.8 percent after the government allowed the utility to raise its electricity rate by as much as 8.47 percent. Yaskawa Electric advanced 8.4 percent after the company raised its half-year operating profit estimate by 50 percent.

Suzuki Motor tumbled 3.8 percent, weighed down by news of labor unrest at its affiliate Maruti Suzuki's Manesar factory. All Nippon Airways slid 2.1 percent after the airline set the price for its $2.3 billion upcoming new share issuance at a discount.

China's Shanghai Composite index rose 0.7 percent to end at a one-week high, lifted by cement and construction companies, after media reports suggested that banks ramped up lending in July. Hong Kong's Hang Seng index rallied 1.6 percent to close near a two-week high.

Australian shares rallied, mirroring gains in the U.S. and Europe overnight on upbeat earnings. The benchmark S&P/ASX 200 index jumped more than 2 percent to 4206.70, a level not seen since May 15, while the broader All Ordinaries index climbed 1.9 percent. The Australian dollar hit a 11-week high against the dollar, buoyed by firmer commodity prices and improved investor sentiment after news emerged that Germany's Bundesbank is mulling buying Australian-dollar denominated assets such as government bonds possibly within weeks.

Resource stocks advanced, with Rio Tinto up a percent and BHP Billiton climbing 3 percent after treasurer Wayne Swan conceded falling iron ore prices could have a bearing on the money raised through the mineral resources rent tax. Smaller rival Fortescue jumped 4.8 percent and gold miner Newcrest added 2.6 percent.

Energy stocks also rose sharply, as international crude prices continued to show upward bias. Woodside Petroleum soared 7.5 percent, Oil Search climbed 4.6 percent and Santos jumped 5.8 percent. Westpac led the gainers in the banking sector, rising 1.6 percent, while ANZ, Commonwealth and NAB ended up about 1.2 percent each. Fairfax shares ended unchanged after it appointed Jack Cowin, a friend of the company's biggest shareholder Gina Rinehart, to its board as an independent director.

In economic news, confidence among Australian businesses declined further in the June quarter, as a cumulative 125 basis-point interest rate reduction by the Reserve Bank of Australia in the past few months failed to offset growing concerns about Europe, the latest National Australia Bank quarterly business survey showed. The business confidence index slipped to -2 in the June quarter from -1 in the March quarter.

South Korea;'s Kospi average rallied 1.6 percent in thin trading on optimism the U.S. economy is gaining some traction. Tech shares and automakers led the rally, while financials remained subdued after the nation's antitrust watchdog launched a probe into the country's top four commercial banks on suspicions that lenders colluded to rig rates on certificate of deposits. Woori Finance Holdings and Hana Financial tumbled 4.1 percent and 2.6 percent, respectively. Among the top gainers, Samsung Electronics rallied 3.6 percent and Hyundai Motor rose 3 percent.

New Zealand shares rose modestly on optimism over the ongoing earnings season. The benchmark NZX-50 rose 0.34 percent, with retailers Warehouse Group and Kathmandu Holdings pacing the gainers. Shares of Warehourse, the biggest retailer on the exchange, rose 1.6 percent to its highest level since May 22, while shares of Kathmandu Holdings gained 2.1 percent.

Heartland jumped 5.5 percent after Pyne Gould Corp sold down the bulk of its stakes in the would-be bank last week. Rubber goods and milking equipment manufacturer Skellerup rose 2.1 percent and heavyweight Telecom ended up 0.4 percent, while tech stocks Xero and Diligent Board Member Services extended declines for a second consecutive session following Tuesday's sharp gains. Shares of Fletcher Building, the nation''s largest construction company, slid 0.2 percent.

Elsewhere, India's benchmark Sensex was last trading up half a percent, Indonesia's Jakarta Composite index was gaining 0.4 percent, Singapore's Straits Times index rose 0.3 percent and the Taiwan Weighted average added 1.4 percent, but Malaysia's KLSE Composite edged down marginally.


Stock Picker’s Portfolio Leaked.

Join TheUltimatePennyStock.com for exclusive portfolio access and see which stocks are up Over 50%. Click to get access now


Commodities
To view the charts please add newsdesk@advfn.com to your contact list
USDCADUSDEURUSDGBPUSDJPY
Enable images to view USDCAD chart Enable images to view USDEUR chart Enable images to view USDGBP chart Enable images to view USDJPY chart
Please click on the images to view our interactive charts

Crude Steady Above $90

The price of crude oil was steady above the $90-mark for the first time in seven weeks Thursday morning.

Light Sweet Crude Oil (WTI) futures for August delivery, gained $1.06 to $90.93 a barrel. Yesterday, oil extended gains for a sixth session after an Energy Information Administration report showed oil stockpiles in the U.S. declined for a third consecutive week indicating a pick-up in demand for oil.

Wednesday during trading hours, the EIA said U.S. crude oil inventories moved down by 800,000 barrels and gasoline stocks shed 1.80 million barrels in the weekended July 13. Analysts expected crude oil inventories to shed 1.40 million barrels, while gasoline stocks are seen adding 700,000 barrels last week.

This morning, the U.S. dollar was leveling off from its 2-year high versus the euro and , while ticking lower against sterling. The buck slipped back near a monthly-low versus the yen and moving lower against the Swiss franc.

In economic news, the euro zone current account surplus increased in May following a sharp decline in April, a report from the European Central Bank showed. The seasonally adjusted current account surplus rose to EUR 10.9 billion in May from EUR 5.5 billion in April.

Meanwhile, data from the Office for National Statistics revealed U.K. retail sales increased at a slower than expected pace in June. Including automotive fuel, retail sales grew only 0.1 percent month-on-month, slower than the 1.5 percent rise in May and 0.6 percent growth forecast by economists.

Traders will look to the weekly jobless claims data from the U.S. Labor Department due out at 8.30 a.m ET. Economists expect claims to edge up to 365,000 from 350,000 in the previous week.

Later during the session, the National Association of Realtors is scheduled to release its report on existing home sales for June. Economists estimate existing home sales of 4.65 million for the month after sales fell by 1.5 percent to a seasonally adjusted annual rate of 4.55 million in the previous month.


Trade free until 2013 with Tradestation


 
 

To unsubscribe from this news bulletin or edit your mailing list settings click here.

Registered Office/Accounts Dept: Suite 27, Essex Technology Centre, The Gable, Fyfield Road, Ongar, CM5 0GA. Customer Support +44 (0) 207 0700 961.

Company registered in England and Wales: Number 2374988 VAT No. GB 549 2130 49


By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: 1-888-992-3836 | help@advfn.com