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Posts Tagged ‘US economy’

US Dollar continues its weakening trend against major counterpart currencies; crude oil hovers above $74 in overnight trading

Monday, September 6th, 2010

Reported by: Eric CRWE Newswire Middle East correspondent

The Euro advanced to 1.2900 against the greenback while the British Pound remained flat at 1.5447 against the US dollar.


The US dollar declined to 84.15 against the Japanese Yen hovering near its 15 year low but the better US jobs data for the month of August kept the greenback from reaching that level.

The dollar index DXY which is a measurement of the US dollar movement against its major counterpart currencies declined 0.1 percent to 82.02.

The Stock market globally maintained bullish sentiments on the news that US private sector has added 67,000 jobs for the month of August. And discounted the 54,000 job losses.

In London, FTSE 100 index advanced 0.3% to 5,445.05, Germany’s DAX surged 0.24% to 6,149.30 while CAC-40 advanced 0.25% to 3681.38 points.

In Asia, Japan’s Nikkei 225 stock index advanced 2.1% to close at 9,301.32, Hang Seng index surged 1.8 percent to 21,355.77 while Korea’s Kospi also advanced 0.7 percent to close at 1,792.42 points for the day.

The Shanghai Composite index gained 1.54% to close at 2,696.25 while Singapore’s Strait Times index advanced 1.07% to close at 3,034.58 for the day.

Crude oil prices remained under $74 on concern of rising oil demand from China which could affect fuel consumption in the United States already facing high unemployment.

Crude oil future contracts for October delivery declined $0.22 to $74.38 per barrel in New York Mercantile Exchange in Singapore’s trading session while Brent crude dropped $0.06 to $76.61 on the ICE Futures exchange at London.

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The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY! Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWENewswire.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWENewswire.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (read more) Rule 17B requires disclosure of payment for investor relations.

 
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US Stock Market maintain bullish rally

Saturday, September 4th, 2010

Reported by: Eric CRWE Newswire Middle East correspondent

US stock markets remain bullish for the fourth consecutive day on better US economic news. The latest employment data released on Friday which showed improving manufacturing and employment figures for the United States.


According to the Labor Department almost 67,000 jobs were added in August which surpassed the forecast of Thomson Reuters.

The Dow Jones Industrial Average DJIA advanced 1.2 percent or 127.83 points to close at 10,477.93. Broader stock indexes like Standard and Poor gained 1.3 percent to 1,104.51 while NASDAQ composite index advanced 1.5 percent to close at 2,233.75 points.

The total consolidated volume was 3.6 billion shares for the day whereas gainers to losers traded in a ratio of 3 to 1 on the New York Stock Exchange.

TrueBlue, Inc. (NYSE:TBI) was the top gainer reporting the surge of 17.50% to close at $13.70 with volume of almost 1.0 million shares.
Goldman Sachs Group, Inc. (NYSE: GS) advanced 5.37% to close at $147.29 with traded volume of 13.59 million shares.

Quiksilver, Inc. (NYSE:ZQK) was one the major losers for the day on lower than expected quarterly sales figures. The share price declined 11.46% to close at $3.63 with total volume of 6.32 million shares.

 

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The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY! Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWENewswire.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWENewswire.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (read more) Rule 17B requires disclosure of payment for investor relations.

 
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The US Dollar declines against its major counterpart currencies in overnight trading; Crude Oil hovers below $75

Friday, September 3rd, 2010

Reported by: Eric CRWE Newswire Middle East correspondent

The DXY index measure of the US dollar movement against its major counterpart currencies declined to 82.363 in overnight market. The Euro showed meager decline against the US dollar traded around $1.2835
The Japanese Yen advanced to 84.40 against the greenback while Swiss franc advanced 0.2 percent to 1.0150 against the US dollar. The Canadian dollar also advanced to 1.0544 against the greenback on the news of Russian central bank to invest its currency reserves in Canadian dollars.


Crude Oil future contract for October delivery declined $0.31 to $74.71 per barrel on New York Mercantile Exchange in Asian trading session while Brent Crude dropped $0.35 to $76.58 on ICE Futures Exchange at London.

In other commodities at Nymex heating oil October delivery contract dropped $0.63 to $2.056 per gallon, gasoline declined to $1.913 per gallon whereas natural gas October contract advanced $0.029 to $3.78 per 1,000 cubic feet.

Stock markets globally maintained bullish sentiments in anticipation of U.S jobs data which would actually define the next step for rapid recovery in US economy to be taken by Federal Reserve.

In London FTSE 100 index advanced 0.5 percent to close at 5,397.96, DAX gained 29.04 points to while France’s CAC-40 gained 0.6 percent to close at 3,654.61 points.

Most of the Asian stock markets also closed on a positive note as Tokyo’s Nikkei 225 stock index advanced 0.6 percent to close at 9,114.13 points, Kospi gained 0.2 percent to 1,780.02, Hang Seng index advanced 0.5 percent to 20,971.50 whereas Shanghai Composite Index remained unchanged to close at 2,655.39 points.

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The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY! Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWENewswire.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWENewswire.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (read more) Rule 17B requires disclosure of payment for investor relations.

 
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US stock markets start September with bullish note

Thursday, September 2nd, 2010

Reported by: Eric CRWE Newswire Middle East correspondent

The Dow Jones Industrial Average advanced 2.5 percent or 254.75 points to close at 10,269.47, Standard & Poor’s 500 index gained 30.96 points to 1,080.29 while NASDAQ composite index rose 62.81 points to close at 2,176.84 for the day.

The total consolidated volume was 4.5 billion shares whereas gainers to losers stood in a ratio of 6 to 1 on the New York Stock Exchange.

General Electric Company (NYSE:GE) remained one of the major gainers of Dow Jones with as its advanced 3.36% to close at $15.01 with volume of 78.04 million for the day. GE moved on the news of its newly assigned budget of $30billion which the company intends to use for mergers and acquisitions in next two to three years.

Bullish sentiments were also maintained for Caterpillar Inc. (NYSE:CAT) as its CEO Doug Oberhelman told investors and analysts that the company will acquire considerable market share in China to hope to make Caterpillar the top brand in the industry by 2015. CAT’s share price advanced 4.60% to close at $68.16 with volume of 9.07 million shares in today’s trading session.

In other mergers and acquisitions news of possible acquisition of Burger King Holdings, Inc. (NYSE:BKC) resulted in surge of 14.7% in its share price to close at $18.86 with traded volume of 26.65 million shares.

Apple Inc. (NASDAQ: AAPL) advanced 3 percent to $250.33 with traded volume of 24.89 million shares on the launch of their new line of iPods.

 

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The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY! Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWENewswire.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWENewswire.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (read more) Rule 17B requires disclosure of payment for investor relations.

 
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US Dollar declines against the Euro; crude oil hovers below $74 whereas Stock Markets gain in Asia

Thursday, September 2nd, 2010

Reported by: Eric CRWE Newswire Middle East correspondent

The US dollar declined against its major counterpart currencies in overnight trading as the pair EUR/USD advanced to $1.2824 where the British Pound fell to 1.5400 against the greenback.


The US dollar declined to 84.08 against the Japanese Yen whereas the pair EUR/YEN hovered around the level of 107.50 to 107.80 in overnight market. Euro declined to 1.2955 against Swiss Franc as the Swiss GDP reported the gain of more than expectations.

Asian stock markets surged today on positive sentiments backed by better US manufacturing data.

Nikkei 225 stock index in Tokyo advanced 1.5 percent to close at 9,062.84. The surge in Nikkei 225 was mostly contributed by Tokyo Stock Exchange’s technology sector as Sony Corp and Canon Inc both advanced 2.2 percent and 1.2 percent respectively.

Hang Seng index advanced 1.2 percent to 20,868.92, South Korea’s Kospi surged 0.6 percent to 1,775.73 while Shanghai Composite Index advanced 1.25percent to 2,655.78 for the day.

Australia’s S&P/ASX 200 remained bullish consecutively for the second day and reported the gain of 0.8 percent to 4,532.70 as compared to surge of 2.1 percent on Wednesday.

However European stock market remained under the selling pressure as London’s FTSE 100 declined 0.1 percent to close at 5,358.77 points; DAX dropped 0.3 percent to 6,065.53 while CAC-40 declined 0.1 percent to 3,619.67.

Benchmark crude oil future contract for October delivery declined $0.04 to $73.87 per barrel on New York Mercantile Exchange in Singapore’s trading session. Brent Crude declined $0.54 to $75.81 per barrel on ICE futures exchange in London.

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The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY! Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. CRWENewswire.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWENewswire.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (read more) Rule 17B requires disclosure of payment for investor relations.

 
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