[11 Jun 2011 | No Comment | 837 views]
Dow, S&P end sixth losing week – is seventh on tap?

The Dow and S&P 500 closed out their sixth week of losses on Friday as further signs of a global economic slowdown set the stage for more losses ahead, informs Reuters.
The deepening gloom raised the prospect for the S&P, which suffered its worst week since August 2010, to break below the year's low of 1,250 next week.
The Nasdaq wiped out its yearly gains on Friday and also posted its biggest weekly decline since August 2010, as the latest deterioration in sentiment came on fear of flagging Chinese growth and fresh ...

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Economy »

[18 Jun 2011 | No Comment | 882 views]

President Barack Obama said he wanted to keep measures like a payroll tax cut in place that had helped support U.S. growth and hiring, but remained vague about specific new action that he would pursue, informs Reuters.
"The steps we've already taken, in terms of a payroll tax cut, making sure we're providing incentives to businesses to build plants and put people to work, those steps we've got to sustain," he told ABC's "Good Morning America" program in an interview broadcast on Friday.
Democrat Obama last week floated the idea of extending ...

Markets »

[18 Jun 2011 | No Comment | 1,919 views]

It had all the signs of another dotcom bubble: A start-up without a convincing business plan or any foreseeable chance of turning a profit saw its shares soar in the first hours after its stock market debut, reports Reuters.
The difference this time -- one that cost some investors money but provided a measure of relief to anyone worried about an overheated IPO market -- is that shares of Pandora Media Inc quickly went south.
Two days after Pandora's stock debuted, it had handed back all its gains and was down nearly ...

Business, Markets, Stocks »

[18 Jun 2011 | No Comment | 926 views]

Oil prices fell on Friday, with U.S. crude slumping to a four-month low under $93 as a dimmer economic outlook and the European debt crisis drove crude to its biggest weekly loss since early May, informs Reuters.
U.S. futures fell more than $3 a barrel as momentum sellers piled into the slide. U.S. crude's discount to Brent widened by more than $1 to $19.90 a barrel.
Oil broke away from familiar correlations, diving in tandem with the dollar and despite gains for many commodities. Some oil analysts appeared more pessimistic aboutĀ Greece than ...

Business, Markets, Stocks »

[17 Jun 2011 | No Comment | 679 views]

The S&P 500's 200-day moving average is the line in the sand as the bulls and the bears fight over the U.S. stock market's direction. It will face one of its stiffest tests next week with Greece's debt crisis appearing to reach a climax.
After setting its closing high for the year on April 29, the S&P 500 has lost 7 percent. Wall Street typically defines a drop of 10 percent or more from a recent peak as a correction.
The benchmark S&P 500 hit its lowest point right on its 200-day ...

Stocks »

[17 Jun 2011 | No Comment | 905 views]

Buy oil stocks on high crude prices but sell uranium and natural gas, was the advise of a fund manager at Sprott Asset Management's energy fund, which invests in small and mid-sized Canadian companies.
Oil prices are trending higher on fundamentals and not on geopolitical upheavals alone, reckons Eric Nuttall, the lead portfolio manager of Canada's Sprott Energy Funds -- a $169 million natural resources-focused equity fund.
"Emerging economy demand (for oil) growth is outpacing the demand destruction that we are seeing in developed economies, namely United States," Nuttall told Reuters in ...

Stocks »

[17 Jun 2011 | No Comment | 534 views]

Research In Motion's dismal results and failure to deliver exciting new devices on time pushed its shares down more than 20 percent on Friday and drew parallels with other fallen technology stars.
The BlackBerry maker's shares plummeted below $28, hitting the lowest level in almost five years, after the company missed some of its own limp forecasts and reported a drop in profit.
It was RIM's sharpest one-day decline since September 2008 in trading volumes among its heaviest ever. The shares are down more than 60 percent since February, wiping billions off ...

Economy, Stocks »

[17 Jun 2011 | No Comment | 587 views]

More than fifteen Chinese companies whose shares trade in the United States, many of them favored by short-sellers, have yet to file required year-end forms with U.S. regulators and the shares could face more downward pressure as deadlines approach, states Reuters.
Many of those names were included on lists issued by brokerages that prevented their clients from borrowing money to buy those stocks on margin. A rise in short activity indicates more people see the stocks falling amid a flurry of accounting scandals that have damaged the sector.
Some of these companies, ...