Latest News In Stock Market Investment Research – Jan 29, 2010

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Google CEO defends stance on China censorship: WSJ

29 Jan 2010 at 9:40am

SAN FRANCISCO (MarketWatch) — Google Inc.’s Eric Schmidt reiterated the company’s opposition to censorship laws in China with hopes the stance will push the country to ease those laws, The Wall Street Journal reported Friday, citing the chief executive’s comments at the World Economic Forum in Davos, Switzerland. “We like what China is doing in terms of growth…we just don’t like censorship,” said Schmidt. “We hope that will change and we can apply some pressure to make things better for the Chinese people.”

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


U.S. stocks falter as technology weighs

29 Jan 2010 at 9:37am

NEW YORK (MarketWatch) — U.S. stocks on Friday tossed off the bulk of earlier gains, with information technology shares down the most. “Technology had the biggest run last year, so it’s more of a technical issue that this group has come up for sale,” said Owen Fitzpatrick, head of U.S. equity group at Deutsche Bank. The Dow Jones Industrial Average remained up 12.84 points at 10,133.3. The S&P 500 Index fell less than 1 point to 1,084.07. The Nasdaq Composite Index fell 7.74 points to 2,171.26.

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Staples settles lawsuits on overtime pay

29 Jan 2010 at 9:08am

SAN FRANCISCO (MarketWatch) — Staples Inc. said Friday that it will pay $42 million to settle several class action lawsuits related to overtime pay. Staples will also drop its appeal of a verdict against the company last year in New Jersey. “The global settlement involves no admission of wrongdoing in connection with the allegations, which claimed that assistant store managers were misclassified as exempt from overtime pay,” Staples said in a statement. The settlement resolves claims dating back to 2002 and covers more than 5,550 current and former employees.

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U.S. funds own $3.4 billion in toxic securities

29 Jan 2010 at 8:38am

WASHINGTON (MarketWatch) – The Treasury’s public-private investment funds held $3.4 billion of toxic mortgage-backed securities as of Dec. 31, according to a Treasury report released Friday. The public-private funds were set up by the Treasury department to purchase toxic mortgage securities from financial institutions but they have been delayed significantly in making the purchases. According to the Treasury report, nine funds set up to make the purchases held $24.8 billion in purchasing power, including $6.2 billion of private sector capital and $6.2 billion of Treasury equity capital and $12.4 billion of government debt capital.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


U.S. stocks extend gains; Dow up more than 100 pts

29 Jan 2010 at 8:33am

NEW YORK (MarketWatch) — U.S. stocks bounced back on Friday after solid economic data and better-than-expected results from big names including Amazon.com Inc. and Microsoft Corp. . The Dow Jones Industrial Average rose 116.31 points to 10,236.77. The S&P 500 Index climbed 11.67 points to 1,096.20. The Nasdaq Composite Index gained 23.65 points to 2,202.65.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Toyota recall in Europe may reach 1.8 mln: reports

29 Jan 2010 at 8:26am

SAN FRANCISCO (MarketWatch) — Toyota Motor Corp.’s recall over faulty accelerator pedals in Europe could impact up to 1.8 million cars, according to media reports Friday. However, the Japanese automaker has no plans as of yet to halt production in Europe as it has in the United States for the affected models, according to a statement posted on the company’s Web site Thursday.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Treasurys stay down after confidence gauge rises

29 Jan 2010 at 8:09am

NEW YORK (MarketWatch) — Treasury prices remained under modest pressure on Friday, pushing yields up, after a report said U.S. consumer confidence improved this month more than previously estimated, according to a survey by Reuters/University of Michigan. Its sentiment index rose to 74.4 this month, from a previous estimate of 72.8. Yields on 10-year notes rose 4 basis points to 3.68%. Treasury yields had been higher earlier after a report said the U.S. economy grew at a faster pace in the fourth quarter than many economists expected.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Dollar extends gains after confidence gauge rises

29 Jan 2010 at 8:06am

NEW YORK (MarketWatch) — The dollar added to gains versus major rivals on Friday after a report said U.S. consumer confidence improved this month more than previously estimated, according to a survey by Reuters/University of Michigan. Its sentiment index rose to 74.4 this month, from a previous estimate of 72.8. The dollar index , which tracks the greenback against a trade-weighted basket of six major currencies, rose to 79.300 in recent trading, compared with 78.875 late Thursday. The dollar had been higher earlier after a report said the U.S. economy grew at a faster pace in the fourth quarter than many economists expected.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Consumer sentiment hits 2-year high, UMich says

29 Jan 2010 at 8:00am

WASHINGTON (MarketWatch) — U.S. consumer sentiment improved in January, as a closely followed survey rose to its highest level in two years. The Reuters/University of Michigan consumer sentiment index rose to 74.4 in January from 72.5 in December, according to media reports. It’s the highest since January 2008. The preliminary mid-month reading was 72.8. Economists were expecting an increase to 73.0 in the final numbers. The index has been little changed in the past five months after falling to 55.3 in November 2008.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Chicago PMI index moves higher in Jan.

29 Jan 2010 at 7:53am

WASHINGTON (MarketWatch) — Manufacturing activity accelerated in the Chicago region in January, according to media reports of the purchasing managers index for the Chicago region released on Friday. The Chicago purchasing managers index rose to 61.5% from 58.7% in December. Readings over 50% indicate overall business expansion. The Chicago PMI is considered a leading indicator to the national Institute for Supply Management manufacturers’ survey for January to be released on Monday. Economists expect the January ISM manufacturing composite to increase to 56.0 from a revised December reading of 54.9.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Drug stocks sluggish; Warner Chilcott jumps

29 Jan 2010 at 7:52am

BOSTON (MarketWatch) — Drug stocks traded sluggishly early Friday while shares of Irish drugmaker Warner Chilcott jumped on a positive 2010 earnings forecast. The NYSE Arca Pharmaceutical Index was up marginally at 306.82 while the NYSE Biotechnology Index was down 0.3% at 961.84. Shares of Warner Chilcott were up 4% at $27.51.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Retail stocks open higher with broad market

29 Jan 2010 at 7:45am

SAN FRANCISCO (MarketWatch) — Retail stocks opened higher on Friday, following the broader market into the green, with toy maker Mattel, Inc. losing ground in the wake of its quarterly report. The S&P Retail Index gained almost 1% to 401.9 points, with shares of Saks, Inc. and Wal-Mart Stores jumping more than 2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Energy stocks rise after fresh GDP growth data

29 Jan 2010 at 7:41am

NEW YORK (MarketWatch) — Energy stocks rose Friday to finish out the last trading day of a month of brutal losses, as growth in U.S. gross domestic product lured buyers into the sector, along with higher crude prices. The NYSE Arca Oil Index rose 0.4% to 1,031. The NYSE Arca Natural Gas Index rose 0.6% to 532. The Philadelphia Oil Service Index rose 1.2% to 198. Shares of Chevron rose 22 cents to $73.49.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


Tech stocks stake claim to early gains

29 Jan 2010 at 7:42am

SAN FRANCISCO (MarketWatch) — Technology stocks rose in early trading Friday, led by Microsoft Corp. and Amazon.com Inc. following those companies’ upbeat quarterly results. Other gains came from Apple Inc. , Oracle Corp. , Intel Corp. and Dell Inc. . The Nasdaq Composite Index rose 13 points to 2,192.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


U.S. stocks advance at the start; tech fronts rise

29 Jan 2010 at 7:39am

NEW YORK (MarketWatch) — U.S. stocks opened modestly higher on Friday after investors received upbeat data on the economy and positive results from the technology sector. The Dow Jones Industrial Average gained 32.87 points to 10,153.33. The S&P 500 Index rose 3.6 points to 1,088.13. The Nasdaq Composite added 16.84 points to 2,195.84.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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January 29 2010 09:21 am | Stock Market News

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