Oct 10
14
Yahoo rose 5.7%, after JPMorgan raised its target price on the stock.
14th October 2010 International Report
Compiled by the LiveTradingFloor Trader team
DJIA gained 0.7% to 11,096.1. NASDAQ climbed 1.0% to 2,441.2. S&P 500 index rose0.7% to 1,178.1. FTSEurofirst 300 index added 1.4% to 1,086.5. German DAX Xetra 30 rose 2.1% to 6,434.5. French CAC-40 climbed 2.1% to settle at 3,828.3. US markets closed higher yesterday, following buoyant earnings reported by corporates and China’s healthy export growth. Apple, up 0.5%, led the technology stocks higher, extending their previous gains, amid hopes of strong earnings reports. Metal and mining stocks, Caterpillar and Alcoa, added 1.2% and 1.3% respectively, amid speculation that Chinese demand would further improve after a 25% surge in its exports lifted its trade surplus to $16.9 billion, while Freeport-McMoRan Copper & Gold climbed 3.8%, after gold prices jumped by $23.80 per ounce. Yahoo rose 5.7%, after JPMorgan raised its target price on the stock, citing acceleration in its revenue from display advertising. CSX gained 4.2%, after it posted higher-than-expected third-quarter profit. Monsanto gained 4.7%, after Argentina and Brazil permitted it to sell bio-engineered seeds.
Other European markets finished higher yesterday, amid hopes that US Federal Reserve’s likely stimulus and upbeat US corporate earnings would boost the slow paced economic recovery. Crude oil related stocks, SeaDrill, Technip and Transocean, climbed between 2.4% and 3.9%, after US decided to lift its deepwater drilling moratorium in the Gulf of Mexico seven weeks early. Chipmakers, STMicroelectronics and ASML Holding, added 2.4% and 4.9% respectively, after the latter posted strong third-quarter profits and lifted its demand outlook. Steelmakers, ThyssenKrupp and Salzgitter, rose 3.4% and 4.4% respectively, as the base metal prices advanced. Banks, Commerzbank, Santander and Deutsche Bank, climbed between 2.5% and 4.0%, after JPMorgan Chase reported a 23% rise in its third-quarter net income which was higher than market expectations.
Due for release today ECB Montly Bulletin, Buba Presiden Weber Speaks, Trade Balance, PPI, Trade Balance, Unemployment Claims, Core PPI, Crude Oil Inventories
14th October 2010 Australian Report
Compiled by the LiveTradingFloor Trader team
JULIA Gillard’s top micro-economic adviser has backed complaints by business about government secrecy in consultation about major reforms. Big banks have complained about confidentiality agreements — breaches of which could trigger the Crimes Act — when in discussion about new policy. The Productivity Commission has concluded there is merit to industry concerns and said the government should make its consultation processes more transparent and accountable. In a landmark report released this week, the commission urged the government to overhaul the way it conducts consultations, including confining secrecy agreements to limited circumstances where the public interest was at stake, such as national security. “In many areas, consultation lacks transparency, continuity and timeframes are too short,” Commissioner Louise Sylvan said.
Due for release today MI Inflation Expectations
