Entries in Stock Market (110)


Stock Futures Up in Pre-Market Trading

Comstock/Thinkstock(NEW YORK) -- The stock market is holding up pretty well given the soaring price of oil.

Major averages have been down less than three percent since oil prices took off.  On Monday, the Dow dropped 80 points, but futures are up in the U.S. Tuesday and so are most European and Asian averages.

Oil prices Tuesday morning are down from Monday's new high -- light sweet crude is now trading at around $104 a barrel.

Meanwhile, rising gas prices have led to a jump in sales for hybrids.  Toyota says global hybrid sales topped three million, with a surging demand for the Prius. The same can't be said for the plug-in electric cars Volt from Chevy and Nissan's Leaf, however: sales for both have been extremely weak.

On another note, high fuel prices have also prompted the world's biggest airline carrier, United Continental, to scrap its 2011 growth plans, saying it will cut unprofitable routes.

Copyright 2011 ABC News Radio


Stocks Down in Midday Trading; Fed Prepping for QE3?

Mario Tama/Getty Images(NEW YORK) -- QE3: It might be coming if oil prices continue to soar.

A top official at the Federal Reserve predicts further easing of monetary policy might happen. Right now the Fed is buying government bonds to boost the economy. That policy -- quantitative easing -- has been dubbed QE2. Dennis Lockhart, head of the Atlanta Fed, says an expansion is possible if another recession is considered likely.

Rising gasoline prices threaten to cut other forms of spending by consumers. Global crude rose again early Monday morning -- since then, oil futures are off their highs.

Stocks are down so far Monday with concerns about what oil will do to the economy. Gold is up $3 an ounce to $1431 an ounce.

Greece's debt rating has been cut with fresh concerns about a default.

Copyright 2011 ABC News Radio


Stocks Down in Midday Trading, Orders for Manufacturing Goods Up

Mario Tama/Getty Images(NEW YORK) -- Stock averages were down in midday trading; analysts say the good news on jobs was baked into Thursday's strong gain.

Crude oil prices rose about 1 percent, now above $103 a barrel for light sweet crude.

The Commerce Department says business orders for manufacturing goods rose more than 3 percent in January -- the strongest monthly gain in almost four years. The numbers were lifted by a surge in demand for airplanes.

A new report says PC sales are likely to drop this year, thanks to the growth in tablet sales.

Earlier in the day, the government issued a mostly positive jobs report. The jobless rate dropped slightly to 8.9 percent -- the lowest rate in nearly two years -- but still above normal levels. The private sector added 220,000 jobs last month. Evidence of spending cuts nationwide, Federal, state, and local governments cut 30,000 positions. The Labor Department survey reports that of those 220,000 new jobs, jobs in manufacturing and construction outpaced job creation in most other parts of the economy.

Copyright 2011 ABC News Radio


Stock Market Futures Are Up for Second Straight Day

Comstock/Thinkstock(NEW YORK) -- A second day of gains for global markets.

U.S. stock futures are up Friday morning after the Dow Jones Index gained 191 points, the biggest one day gain since Dec. 1.  Much of this gain is due to strong retail sales for February.  Major retailers are reporting strong results and more jobs.  Thursday's ADP payroll report was also strong.

But all of this might fall apart if the government's monthly jobs report, which is set to come out Friday, fails to match expectations.

Overseas, leading Asian stock averages gained more than 1 percent overnight into Friday.

Meanwhile, the investors are nervously eyeing oil prices, which continued to rise due to the unrest in the Middle East. West Texas crude is now close to $103 a barrel.

Copyright 2011 ABC News Radio


Stock Market Futures Are Up Amid High Oil Prices

Photo Courtesy - Getty Images(NEW YORK) -- Despite high oil prices, stocks are seeing a turnaround after recent drops.

Futures are pointing to a solid gain at the open for stock averages and almost all overseas market averages are up.  The boost came after stronger than expected job numbers in Wednesday's ADP payroll report.

The gains come as crude oil futures topped $101 a barrel.

Meanwhile, the government's February employment report is expected to come out Friday.

On another note, the federal reserve is offering fresh evidence that the U.S. economy is starting to pick up steam.  The new Beige Book survey finds output expanded in all parts of the country in January and early February.  One concern for a lot of businesses however, are rising prices.

Copyright 2011 ABC News Radio


Stocks Have a Mixed Wednesday

Photo Courtesy - Getty Images(NEW YORK) -- Stock market averages are mixed Wednesday as a positive report on jobs trimmed earlier losses for stocks, but the February employment report comes out on Friday.

Gold prices are up again, now at $1,440 an ounce, a gain of ten dollars, and global oil prices are above a hundred one dollars a barrel. Fears about supply are a major drag on financial markets. If gasoline and oil prices stay high they could cut U.S. economic growth . 

The office supply retailer Staples reports an 18 percent rise in fourth quarter profits, but sales were flat.

Strong sales for Costco as profits rose and the result beat analyst expectations. Sales at U.S. Costco stores rose 7 per cent in the latest quarter. 

Copyright 2011 ABC News Radio


Hackers Penetrate Nasdaq Computer Network

Photo Courtesy - Getty Images(NEW YORK) -- The computer network of the company that runs the Nasdaq Stock Market has reportedly been attacked by hackers numerous times over the past year.

According to a report by the Wall Street Journal officials say that while they haven’t been able to determine specific areas that have been hacked, they are certain that the part of the network that executes trades was not penetrated. The hack attacks raise concern about the possibility of confidential information being exposed, and investigators are working to figure out just exactly who the hackers are. Officials say the hackers appear to have just been looking around, and there hasn’t been any indication of tampering with information, according to the Wall Street Journal report.

Government officials are concerned because Nasdaq is viewed on par with power companies and air traffic control operations, in terms of national importance. Now that unauthorized eyes have peered at the exchange, there is the threat that high-security government information could possibly be accessed.

Possible motives behind the hack attacks are financial gain and theft of trade secrets, among other things, but since the intruders have only been browsing, one can only speculate about motive.

While authorities are yet to identify the perpetrators, some say there is evidence that the hackers may be from Russia.

Information technology experts are trying to stay ahead of the hackers, by attempting to secure possible weak spots in the company’s network, but there is no guarantee that the network is hack-proof since hackers tend to be innovative in their attempts to penetrate networks. Both the Secret Service and the Federal Bureau of Investigation are conducting investigations into the matter, according to the Wall Street Journal report.

Copyright 2011 ABC News Radio


Dow Jones Closes Above 12,000; First Time Since June '08

Photo Courtesy - Getty Images(NEW YORK) -- The Dow Jones industrial average closed above the 12,000 mark on Tuesday for the first time since June 2008. The big board showed 12,040.16 at the closing bell.

Copyright 2011 ABC News Radio


Trader Arrested for Threatening SEC

Photo Courtesy - Alnbri Management, LLC(NEW YORK) -- A New York trader who put a price on the heads of officials from the U.S. Securities and Exchange Commission (SEC) on his website was arrested Thursday night at Newark Liberty Airport upon his return to the U.S. from Singapore, authorities said.

Court records say Vincent McCrudden threatened to kill 47 current and former financial regulators officials at the SEC, the Financial Industry Regulatory Authority, National Futures Association and the U.S. Commodity Futures Trading Commission.

“He’s a good guy,” McCrudden’s lawyer, Bruce Barket, told ABC News. “He’s certainly not going to hurt anybody. He’s short tempered and he’s ill mannered. His creative writing needs some work. His timing is particularly bad, but the idea that this is anything other than a guy spouting off is just silly.”

Barket said that McCrudden, who trades primarily for himself, has been upset with financial regulators since 2003 when he was acquitted of mail fraud.

Copyright 2011 ABC News Radio


Ireland Seeks 100 Billion Euro Bailout

Image Courtesy - Getty Images(NEW YORK) -- Wall Street will be watching to see whether Ireland is successful in turning around its economy.  The nation has asked the European Union for as much as 100 billion euros -- the equivalent of nearly $137 billion in American money -- to bail it out of its fiscal emergency.

Ireland's economy is much smaller but its problems may be even more complicated than those of the U.S., at least in one area.  Because it is in the so-called "euro-zone," it has no currency of its own and cannot recapitalize its banks with new money as the U.S. did.

Economist Peter Morici at the University of Maryland said Sunday that if Ireland gets a bailout, it could give the U.S. stock market a lift by removing uncertainty.  Morici says the issue of sovereign debt is a problematic one for markets all over the world.  Morici says Spain and Portugal are the next trouble spots to watch.

Copyright 2010 ABC News Radio

Page 1 ... 7 8 9 10 11

ABC News Radio