Latest News In Stock Market Investment Research – May 14, 2010

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Crude oil dips, gold rises after U.S. data

14 May 2010 at 5:45am

NEW YORK (MarketWatch) — Crude oil futures fell and gold futures were higher early on Friday, after a report that showed U.S. retail sales rose 0.2% in April. Excluding autos, retail sales increased 0.4%. Crude oil for June fell 68 cents, or 0.9%, to $73.75 a barrel. Gold futures for the same month jumped $15.20, or 1.2%, to $1,244.20 an ounce. Earlier, crude oil came under pressure and gold rose after reports of political discord in Europe fueled ongoing worries about growth in the region.

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. stock futures point to opening losses

14 May 2010 at 5:36am

NEW YORK (MarketWatch) — U.S. stock futures were sharply lower on Friday as investors mostly bypassed a 0.2% rise in U.S. retail sales in April to focus on Europe’s debt trouble and the euro’s fall to a 17-month low. Futures for the Dow Jones Industrial Average were off 90 points to 10,683. Those for the S&P 500 were off 11.2 points at 1,145.6, while Nasdaq 100 futures fell 18.75 points to 1,928.5.

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, dollar hold gains after retail sales

14 May 2010 at 5:33am

NEW YORK (MarketWatch) — Treasury prices and the dollar rose on Friday after a report said U.S. retail sales rose 0.2% in April. Excluding autos, sales increased 0.4%. The dollar index , which tracks the performance of the greenback against a basket of other major currencies, rose to 85.622 from 85.339 in late New York trading on Thursday. The euro fell to $1.2485, from $1.2536 Thursday. Yields on 10-year notes , which move inversely to prices, fell 4 basis points to 3.50%.Treasury bonds were higher before the data as reports about political discord in Europe reignited worries about the region’s stability driving the euro to a 17-month low and sparking a flight to quality.

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. retail sales up 0.4%, 7th straight gain

14 May 2010 at 5:30am

WASHINGTON (MarketWatch) – U.S. retail sales rose a seasonally adjusted 0.4% to $366.4 billion in April, the seventh straight increase and the 12th gain in the past 13 months, led by strong sales at hardware stores and garden centers, the Commerce Department estimated Friday. Excluding the 0.5% increase in auto sales, sales rose 0.4% to $303.5 billion. The figures were stronger than the expected 0.2% decline in overall sales and the expected 0.2% gain excluding autos. Adding to the upside surprise, sales in February and March were each revised higher by two-tenths of a percentage point. Compared with April 2009, sales were up 8.8%.

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.


Germany’s Daimler to delist shares from NYSE

14 May 2010 at 5:21am

FRANKFURT (MarketWatch) — German car maker Daimler AG said Friday it planned to delist its shares from the New York Stock Exchange, citing changed investor behavior and consistently low trading volumes. International investors now primarily trade in Daimler shares in Germany and through electronic trading platforms, the firm said. Also, Daimler’s trading volumes in the United States have been consistently low and, over a 12-month period, amounted to an average of well below 5% of the worldwide trading volume, according to the firm. Daimler will also apply to the Securities and Exchange Commission for deregistration of all its securities.

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.


Visa, MasterCard slip after Senate vote on fees

14 May 2010 at 5:21am

BOSTON (MarketWatch) — Shares of credit-card networks MasterCard Inc. and Visa Inc. were both down 7% in premarket trading Friday following a U.S. Senate vote in favor of a measure that would allow the Federal Reserve to regulate fees on credit and debit cards. The amendment was offered by Sen. Richard Durbin, D-Ill., and is seen as a threat to profits at credit-card firms.

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.


J.C. Penney net surges; forecasts may miss

14 May 2010 at 5:17am

NEW YORK (MarketWatch) — J.C. Penney Co. said Friday that its first-quarter profit more than doubled to $60 million, or 25 cents a share, from $25 million, or 11 cents, a year earlier. Sales rose 1.2% to $3.93 billion from $3.88 billion. Excluding the pension plan expense, the company said it would have earned 40 cents a share. The retailer forecast profit of 10 cents to 13 cents a share in the second quarter with comparable sales rising as much as 3%. It sees full-year earnings of $1.64 a share. Analysts surveyed by FactSet estimated Penney to earn 25 cents a share in the first quarter, 13 cents in the second quarter and $1.65 for the year, according to FactSet.

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.


Dillard’s net income jumps by six times

14 May 2010 at 5:11am

NEW YORK (MarketWatch) — Dillard’s Inc. said Friday its first-quarter net income climbed to $48.8 million, or 68 cents a share, from $7.7 million, or 10 cents a share, in the year-ago period. Excluding a charge of 2 cents a share, Dillard’s earned 70 cents a share. The retailer’s revenue fell slightly to $1.48 billion, from $1.51 billion. “We are encouraged by our solid first quarter performance as we report good results in our key operational areas including inventory management and cost control,” the company said.

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.


Newsletter says gold ETF overbought

14 May 2010 at 5:03am

BOSTON (MarketWatch) — The ETF Review, a newsletter from Investors Intelligence, on Friday said it is closing its long position on SPDR Gold Shares . The gold ETF “has accelerated to new highs over the week with the flight to safety,” the newsletter said. “However, momentum is now nearing a similar overbought level as per late November last year. On that occasion the market topped out and collapsed spectacularly. Gold futures are up ahead of the U.S. open and we will take profits on that strength today.” SPDR Gold Shares, which holds more than $48 billion in assets, was up 12.4% year to date through Thursday’s close, according to FactSet Research.

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.


Oil futures drop below $74/bbl, extending losses

14 May 2010 at 4:29am

FRANKFURT (MarketWatch) — Oil futures declined below $74 a barrel on Friday, extending their recent losses, as jitters about Europe’s debt woes raised concerns about the sustainability of the global economic recovery. Crude for June delivery fell $1.21 to $73.19 a barrel in electronic trading on Globex.

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.


Gold futures rally to just under $1,250 an ounce

14 May 2010 at 4:16am

FRANKFURT (MarketWatch) — Gold futures rallied on Friday, as ongoing worries about financial stability in Europe boosted the safe-haven appeal of the precious metal. Gold for June delivery rose $17.30 to $1,246.50 an ounce in electronic trading on Globex. It earlier hit an intraday high of $1,249.70 an ounce. On Wednesday, June gold futures surged to end at a record high of $1,243.10 an ounce.

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.


France’s Sarkozy threatened to exit euro: El Pais

14 May 2010 at 3:56am

MADRID (MarketWatch) — French President Nicolas Sarkozy threatened to pull his country out of the euro zone unless other members promised to help Greece at the crucial meeting of ministers in Brussels last Friday, according to a report in Spain’s El Pais. Details of the meeting were apparently revealed by Spain’s prime minister, Jose Luis Rodriguez Zapatero, as he met behind closed doors with Socialist party leaders on Wednesday. An unnamed source at that meeting relayed Zapatero’s account that at one point in Brussels, Sarkozy “banged his fist on the table and threatened to leave the euro, which obliged [German Chancellor] Angela Merkel to bend and reach an agreement.” Another source at the meeting with Zapatero relayed that “France, Italy and Spain formed a common front against Germany and Sarkozy threatened Merkel with a break in the traditional Franco-German axis.” Traders say the report has pressured the euro on Friday, which dipped to a new 17-month low under $1.2457. (Corrects Sarkozy’s title).

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.


Noranda Aluminum prices IPO

14 May 2010 at 3:12am

LONDON (MarketWatch) — Noranda Aluminum Holding Corp. said Friday that its priced its initial public offering of 10 million shares at $8 a share. The company said underwriters have a 30-day option to purchase up to an additional 1.5 million shares and that trading will begin later Friday.

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.


Hong Kong’s first-quarter GDP rises 8.2% on year

14 May 2010 at 2:48am

HONG KONG (MarketWatch) — Hong Kong’s economy expanded at a faster-than-expected 8.2% in the first quarter, lifted by rebounding exports, prompting government economists to declare the city’s economy has fully recovered from the global crisis, according to a government statement Friday. The result outpaced median forecasts for a 7.5% expansion during the period, according to a poll by Dow Jones Newswires. The quarterly growth figure contrasted with weak conditions a year earlier when GDP contracted 7.8%. Government economists said the pace of the rebound meant annual growth was on track to exceed earlier forecasts of a 4% to 5% expansion this year. The government also kept its estimate for consumer prices to rise 2.3% this year, up from a CPI rise of 0.5% last year.

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.


Spanish core inflation turns negative in April

14 May 2010 at 2:31am

LONDON (MarketWatch) — Spanish core inflation turned negative in April, falling 0.1% year-on-year, from 0.2% in March, economists at BNP Paribas noted on Friday. “The shock triggered by the financial crisis accelerated a correction already in train in Spain, as the economy shifts from a housing-led boom to a more balanced growth model,” they said. Headline inflation rose in April, from 1.4% to 1.5% year-on-year, they noted.

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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May 14 2010 05:04 am | Stock Market News

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