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MARKET REPORT

Flurry of Earnings: Tech Firms Go Gangbusters

During the last quarter of 2006, Cingular Wireless' profits jumped fourfold and Sun Microsystems registered a profit for the first time in more than a year; however, Seagate Technology's earnings dropped by about 50 percent. Nevertheless, as many major tech companies report their earnings this week,...

MARKET REPORT

Merger Activity, Economic Data Boost Stocks

The latest salvo in the merger and acquisition boom along with some economic data that turned out better than expected helped lift stocks today. Markets moved higher early after Circuit City revealed it was the target of a US$3.5 billion takeover bid from private investment firm Highfields Capital M...

MARKET REPORT

Jobs Data Helps Market Wrap Week on High Note

U.S. stocks rallied today as a weaker-than-anticipated unemployment report put investors in a positive mood by alleviating concerns about interest rates. The Dow Jones Industrial Average added 123.03 points, or 1.16 percent, to close at 10,716.13 while the Nasdaq gained 29.02 points, or 1.41 percent...

MARKET REPORT

Stocks Down Again Despite Good Jobs Report

An employment report for December that showed steady job creation and capped the best year for hiring since 1999 wasn't enough to prevent stocks from ending the week in negative territory, with yet another weak session today. The Dow finished the day and week at 10,603.96, down 18.92 points, or 0.18...

MARKET REPORT

Stocks Sink as Inflation Worries Mount

Word that the Federal Reserve is increasingly worried about the prospects of inflation sent stocks tumbling today, with the Dow narrowly avoiding a triple-digit loss and the Nasdaq giving up more than 2 percent. The concern, found in the recently released minutes of the Fed's December meeting, when ...

MARKET REPORT

US Stocks Basically Flat on Dearth of News, Light Volume

U.S. stocks ended the session on a relatively flat note today, with little news and light overall trading volume heading into New Year's Eve. Despite some positive economic news from the Labor Department, investors appeared to be unmoved, locking in profits before 2004 comes to an end at the close o...

MARKET REPORT

Stocks Fall Slightly, But Remain Near Three-Year Highs

Stocks lost ground today, with news about specific stocks denting the Dow and a lack of impetus for buying keeping other indexes from moving higher. The limited economic news available was mostly good, with the National Association of Realtors saying that sales of existing homes surged to record hig...

MARKET REPORT

Stocks Rally on Surge in Consumer Confidence

Consumer confidence surged in November to its highest levels since July as more people bet on better times ahead in 2005, a belief that stock market investors shared today as they continued the year-end rally. All major U.S. stock markets rallied after the Conference Board reported that its index of...

MARKET REPORT

Dollar, Retail Worries Leave Stocks in Red

Stock markets slumped back from the holiday weekend today as refreshed concern over the weakness of the U.S. dollar and worries that the holiday shopping season won't pass muster outweighed a plunge in oil prices. The Dow lost 50.99, or 0.47 percent, to close at 10,776.13. The Nasdaq was lower by 6....

MARKET REPORT

Dow Hits Three-Year High in End-of-Year Rally

The long-anticipated year-end rally got under way in earnest on Wall Street today as stocks roared higher, pushing the Dow to its highest level in more than three years. The Dow closed at 10,759.43, up 97.83 points, or 0.92 percent on the session, its best closing price of the year and the highest s...

MARKET REPORT

Leading Indicators Rise, But Stocks Finish Mixed

A closely watched gauge of economic growth rose in November for the first time in five months, but the news did little to excite stock investors, with the major averages finishing the session mixed. The Index of Leading Economic Indicators rose 0.2 percent last month, the private Conference Board re...

MARKET REPORT

Stocks Fall as Oil Prices Surge, Drug Is Pulled

Stocks limped to the finish line today, closing out the week with a dismal session amid pressure from resurgent oil prices and word that another pharmaceutical company acknowledged potential problems with one of its main products. Trading was heavy on Wall Street on what market watchers call a quadr...

MARKET REPORT

Stock Markets Mixed on Mergers, Trade Deficit News

Nearly US$40 billion worth of mergers failed to ignite a broad-based stock market rally today, with investors mulling the latest batch of economic news as well as the corporate hookups. Merger news should have dominated Wall Street on a day when Symantec agreed to buy Veritas in a deal worth $15 bil...

MARKET REPORT

Markets Up as Solid Earnings Overshadow Jobless Claims

U.S. stocks rallied late in the session today as some positive earnings news outweighed a spike in weekly jobless claims and the prospect of tighter oil supplies heading into 2005. The Dow, which was down more than 70 points during the trading session, reversed course in late trading and finished hi...

MARKET REPORT

Stocks Rally as Dollar Moves Up

Stocks rallied today, with all averages finishing in positive territory as the U.S. dollar performed better against overseas currencies for the first time in weeks. The Dow was up 53.65, or 0.51 percent, to 10,494.23. The Nasdaq gained 11.45 points, or 0.54 percent, to close at 2,126.11. The S&P...

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