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Posts Tagged ‘dow jones’

NEW YORK: Investors abandoned red-hot” commodity shares on Tuesday, Jan 4, while fears of lower supermarket profits hit food retailers, sending the S&P and Nasdaq lower. Volume was strong for a second day as investors reshuffled their portfolios at the beginning of the year, and analysts said the attractiveness of equities was intact. Recent stock gainers topped Tuesday’s list of losers, falling as copper, oil and other commodities slipped from multiyear highs. The S&P materials index fell 0.5 percent and the energy index lost 0.6 percent. Materials and energy were among the top-performing sectors in 2010. “The S&P is pretty buoyant because of the fact that there seems to be a little bit of a renewed interest in the market,” said Nick Kalivas, senior equity index analyst at MF Global in Chicago. “I think it’s subtle, but I do think it’s present. how long it lasts is obviously the million dollar question.” Shares of grocer Supervalu Inc fell more than 6 percent and was the top percentage decliner on the S&P 500 after MorganStanley told investors to cut holdings in the stock, saying rising food costs will crimp margins. Safeway Inc and whole Foods Market also slid. The Dow Jones industrial average added 20.43 points, or 0.18 percent, to 11,691.18. The Standard & Poor’s 500 Index dipped 1.67 points, or 0.13 percent, to 1,270.20. The Nasdaq Composite Index was off 10.27 points, or 0.38 percent, to 2,681.25. The S&P and Nasdaq pared losses modestly and the Dow edged higher following minutes from the Federal Reserve’s December policy meeting that showed officials felt the U.S. economic recovery was still weak enough to warrant monetary support in the form of bond purchases by the Fed. The market was also supported by strength in defensive shares, including the utilities and telecom sectors. The defensive tone aided blue chips as the Dow ended higher. The market’s weakness followed a strong start to the new trading year on Monday. The Dow and S&P 500 recently hit two-year highs as data pointed to a U.S. recovery. While many analysts see another year of gains for the S&P 500, Morgan Stanley offered a contrarian view, forecasting the S&P 500 would end the year lower. Shares of Supervalu dropped 6.3 percent to $9.00. Safeway was down 3.8 percent at $21.64, and whole Foods fell 3.4 percent to $49.04. – Reuters

Bursa Malaysia Market News: Wall Street edges lower on commodity shares

Monday, October 18, 2010

Overview: the FTSE 100 advanced 0.5% following a positive start in US equity markets on the back of better than expected corporate results that came out today.

Bank Citigroup (NYSE:C), which is 12.4% owned by the US government, pleasantly surprised the markets with a US$2.2 billion quarterly profit. However, revenues were down 10% to US$20.7 billion as trading declined.

Toymaker Hasbro (NYSE:HAS) also managed to beat analyst expectations with a 3.2% increase in profits in Q3.

Halliburton (NYSE:HAL) said its third quarter earnings soared from US$262 million a year ago to US$544 million, while revenues jumped 30% to US$4.67 billion. However, shares in the oil and gas services major declined as analysts expected slightly higher revenues.

It was also reported today that industrial production in the US fell 0.2% in September.

The Dow Jones Industrial Average rose 0.2%, while the broader S&P 500 index climbed 0.3% and the technology heavy NASDAQ composite rose 0.25%.

The corporate reports offset losses in the mining sector, which was hit by lower precious and base metal prices.

Software developer Autonomy Corp (LON:AU) led the blue chips with a 4.2% gain. Chipmaker ARM Holdings (LON:ARM) and part-nationalised bank Lloyds (LON:LLOY) followed, tacking on 3%. Medical devices manufacturer Smith & Nephew (LON:SN), hedge fund manager Man Group (LON:EMG), private equity group 3i (LON:III), oil and gas producer BG Group (LON:BG) and engineering firm Invensys (LON:ISYS) added just over 2%.

Miners Lonmin (LON:LMI), Randgold Resources (LON:RRS) and Vedanta Resources (LON:VED) were at the bottom of the pile with losses of 2%.

Oil prices were reacting to movements in currency markets early in the day amid lack of other clues.

The US backed off from its somewhat aggressive rhetoric directed at China’s trade policies and refrained from labelling China a currency manipulator. It may still do that when it releases its currency statement, expected after the upcoming G20 meeting that will take place on 11 November.

As a result of that move, the yuan fell from all time highs against the US dollar. the euro also lost ground against the greenback with the EUR/USD rate plummeting to 1.388 after breaking through 1.41 last week.

On the ICE Exchange, November Brent Crude futures improved to 82.41/barrel after falling below US$82/barrel this morning, while December Brent reached US$82.89/barrel.

US light, sweet crude for December delivery, which is currently the most actively traded contract on the New York Mercantile Exchange (NYMEX), improved to US$81.72/barrel, while November futures climbed to US$81.05/barrel.

BP (LON:BP) posted a small gain after selling US$1.8 billion worth of assets in Vietnam and Venezuela to its 50% owned joint venture TNK-BP. BP is trying to raise US$30 billion by the end of next year to cover the damage claims stemming from the disastrous oil spill in the Gulf of Mexico that wiped out a third of its share price since it kicked off in April.

Likewise, fellow supermajor Shell (LON:RDSB) tacked on less than 1%, as did Cairn Energy (LON:CNE) and Tullow Oil (LON:TLW).

BG Group (LON:BG) outperformed the sector, rising 2%.

Oil and gas engineering firms also did well with Amec (LON:AMEC) and Petrofac (LON:PFC) climbing 2.2% and 1.4% respectively.

Salamander Energy (LON:SMDR) led the midcaps with a 4% advance. Melrose Resources (LON:MRS) followed, rising 1.2%, while Premier Oil (LON:PMO) posted a small gain.

Heritage Oil (LON:HOIL) headed in the opposite direction, shedding 1.7%. JKX Oil & Gas (LON:JKX) declined marginally.

Dana Petroleum (LON:DNX), Dragon Oil (LON:DGO) and Soco International (LON:SIA) were little moved.Wood Group (LON:WG) stood just above the opening level. Another oil and gas services firm Wellstream Holdings (LON:WSM) added 1%.

Oil and gas company Gulf Keystone Petroleum (LON:GKP), which is focused on the Kurdistan region of Iraq, was among the top performing small caps with a 7.5% gain. This morning, the company announced that it has successfully raised £109 million which will allow it to fully appraise its world class Shaikan oil field in Kurdistan.

EU focused oil and gas producer and explorer Europa Oil & Gas (LON:EOG) and energy sector focused investor Xtract Energy (LON:XTR) followed, tacking on 6% and 5% respectively.

Precious metals retreat

Gold prices fluctuated within a narrow range today after falling hard on Friday following Ben Bernanke’s speech in Boston.

The Fed Chairman said that at the currently anticipated pace of growth the economy would not create enough jobs to significantly slash the unemployment rate, which presently stands at nearly 10%, while the risk of deflation was higher than desirable.

Gold stood at US$1,362/oz in late afternoon, while silver and platinum fell to US$24.10/oz and US$1,682/oz respectively.

Major mining stocks were in decline today with the sole exception of gold producer African Barrick Gold (LON:ABG), which managed to add 1%. Peer Randgold Resources (LON:RRS) declined 2%, while platinum producer Lonmin (LON:LMI) and silver miner Fresnillo (LON:FRES) dropped 1.9% and 1% respectively.

Gold miner Petropavlovsk (LON:POG) tacked on almost 1%, while other midcaps turned negative with silver producer Hochschild Mining (LON:HOC) sliding 3.5%, while Aquarius Platinum (LON:AQP) declined marginally.

Solomon Islands and Australia operating gold and copper explorer Solomon Gold (LON:SOLG) was among the leading risers in the sector with an 11% gain. Latin America focused gold producer and exploration company Orosur Mining (LON:OMI) followed, advancing 9.5%. South Africa and Mozambique focused gold mining company Pan African Resources (LON:PAF) also did well, climbing 5%.

Base metal miners decline

Copper and nickel declined to US$3.79/lb and US$10.75/lb respectively, while zinc fell to US$1.072/lb.

Base metal miners were in decline today. Antofagasta (LON:ANTO), Eurasian Natural Resources (LON:ENRC), Kazakhmys (LON:KAZ), and Rio Tinto (LON:RIO) all lost about 1.5%. Vedanta Resources (LON:VED) shed 2%.

BHP Billiton (LON:BLT) and Xstrata (LON:XTA) lost just over 1%, while Anglo American (LON:AAL) declined marginally.

London’s only listed pure iron ore producer Ferrexpo (LON:FXPO) moved with the sector, shedding 2.2%.

Southern Africa focused coal exploration and production company Strategic Natural Resources (LON:SNRP) and Australia and Papua new Guinea focused nickel and copper explorer Regency Mines (LON:RGM) were among the leading risers in the sector with gains of 11% and 10.5% respectively.

Banks, insurance, private equity

Lloyds (LON:LLOY) led the banking stocks with a 3% advance. Barclays (LON:BARC) and HSBC (LON:HSBA) followed, climbing 1%.

Royal Bank of Scotland (LON:RBS) and Standard Chartered (LON:STAN) were unmoved.

Standard Life (LON:SL) and Prudential (LON:PRU) were the top risers in the insurance sector with gains of about 1.5%. Legal & General (LON:LGEN) added 1%, while Aviva (LON:AV) and RSA Insurance Group (LON:RSA) posted small gains.

Admiral Group (LON:ADM) was unmoved and Old Mutual (LON:OML) declined marginally.

Europa Oil & Gas (LON:EOG) announced the spud of the Barchiz-1 exploration well in Romania. the well, situated in the EPI-3 Brates concession, in which Europa has a 20 percent interest, is scheduled to take approximately 30 days to drill to an estimated final total depth of 1,400 metres.

Nyota Minerals (LON:NYO, ASX:NYO) has come another step closer to upgrading the gold resource at its flagship Tulu Kapi project in Ethiopia, after receiving “particularly encouraging” assay results.

Brazil-focused Horizonte Minerals (LON:HZM) said drilling has commenced on its 100 percent owned Araguaia nickel project located south of the Carajas Mineral District, in the north of the country.

Telit Communications (LON:TCM, PINK:TTCNF) will continue serving the large radar systems market in Europe after agreeing to continue supplying the world’s smallest GSM/GPRS module to Coyote System.

Minera IRL (LON:MIRL, BVL:MIRL, TSX:IRL) this morning unveiled plans to raise C$30 million to advance its Ollachea and Don Nicholas gold projects in Peru and Argentina respectively. It is doing so via a share issue being organised by Jennings Capital, with Collins Stewart as a syndicate member.

Stellar Diamonds (LON:STEL) has generated almost US$200,000 in revenue from diamond sales from the Bomboko trial mine in south east Guinea in the third quarter. as it anticipated, Stellar temporarily closed the mine for the rainy season in August. In the three months ended 30 September, Bomboko produced 576 carats.

Rambler Metals & Mining (LON:RMM, TSX-V:RAB) reported a year of significant progress as it confirmed it is on target to bring the Ming copper-gold mine in Canada into production next year.

Lipoxen (LON:LPX) today announced positive efficacy results for its novel influenza vaccine using its liposomal co-delivery technology ImuXen. the company now looks to capitalise on that success and accelerate the candidate into phase 1 clinical trials within 24 months.

Petro Matad (LON:MATD) said its Davsan Tolgoi (DT)-3 well in Mongolia reached 345 metres on Sunday, just two days after its spud date. the depth marks the first casing point, where the first strong casing will be set and cemented. following that, the well will continue drilling the second and final string to its target depth of 1,200 metres.

Obtala Resources ltd (LON:OBT) announced plans to list its wholly owned subsidiary Paragon Diamonds ltd on the Alternative Investment Market segment of the London Stock Exchange.

Frontier Mining (LON:FML) is convening a special shareholder meeting for November 8 to vote on the previously announced plans to re-domicile the company and its subsidiaries from Delaware in the US to the Cayman Islands.

Solomon Gold (LON:SOLG) shares soared after it identified wide near surface gold intersections at the Rannes gold and silver project in Queensland, Australia.

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<a href="http://proactiveinvestors.co.uk/market_wraps/22189/ftse-100-rises-after-positive-start-on-wall-street-22189.htmltag:news.google.com,2005:cluster=http://proactiveinvestors.co.uk/market_wraps/22189/ftse-100-rises-after-positive-start-on-wall-street-22189.htmlMon, 18 Oct 2010 15:19:38 GMT 00:00″>FTSE 100 rises after positive start on Wall Street

A reasonable amount to invest is about £1000, share prices vary widely, the lowest possible share price in the uk is 1 32nd of a penny, the highest single share was about £10,000 last I knew.
Your "typical" ftse100 company might trade for between £2.50 ans £7.50 very roughly speaking.
On top of the share price you will need to pay commission and stamp duty, in the UK commission is normaly around £12.50 per trade and stamp duty is 0.5% of purchase price.

How much money is needed to buy a stock?(wall street, dow jones etc.)?

Are the prices of Philippine stocks dependent on Wall Street or the Dow Jones Index? because I read in news that prices in Philippine stock rises or falls because prices in Wall Street or the Dow Jones index rose or fell.

What is the relationship of the Philippine Stock Market to Wall Street and the Dow Jones Index?

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By Mark Hulbert, MarketWatch

ANNANDALE, Va. (MarketWatch) — the stock market’s extraordinary volatility of late brings to mind Warren Buffett’s classic line that one of the primary purposes of stock market forecasters is to make fortune tellers look good.

/quotes/comstock/10w!i:dji/delayed DJIA 10,137, -122.36, -1.19%

Take Tuesday: the Dow Jones Industrial Average /quotes/comstock/10w!i:dji/delayed (DJIA 10,137, -122.36, -1.19%) at one point early in the session was down nearly 300 points, raising fears of a waterfall decline similar to that seen in the Fall of 2008, following the bankruptcy of Lehman Brothers.

But then Dow the rallied, finishing the day down just 23 points. the S&P 500 index /quotes/comstock/21z!i1:inx (SPX 1,089, -13.65, -1.24%) actually eked out a small gain.

Does that mean the short-term direction of the market has now turned up? Or does it mean that the bear is just taking a break, and will shortly return in full force?

Of course, no one knows for sure.

Given how difficult it is to forecast the stock market’s short-term direction at any time, much less now, you might imagine that it is even more difficult to forecast the market’s direction over longer periods of time.

Ironically, however, that may not be the case. Statisticians tell us that it is less hard (note I didn’t say easy) to predict the market’s return over the next six to 12 months than it is to forecast its return over the next day. and it’s even less difficult still when the forecast horizon extends to longer periods of time.

Consider an econometric model maintained by Sam Eisenstadt, the former research chairman at value Line, inc. /quotes/comstock/15*!valu/quotes/nls/valu (VALU 19.80, 0.00, 0.00%) , the author of the famed value Line stock-ranking system, and a rigorous statistical student of the stock market for over 60 years. he reports that his model sports an impressive track record back to 1952 in forecasting six-month returns. (Its r-squared, for the statisticians among you, is 0.3).

Or consider another econometric model with similar statistical success devised by Norman Fosback, editor of Fosback’s Fund Forecaster and formerly head of the Institute for Econometric Research. His primary trend model focuses on the market’s returns one to five years into the future, but makes no predictions about the market’s shorter-term movements.

What are these two models saying right now?

Interestingly, both are quite bullish. Eisenstadt tells me that his model is currently forecasting a 20% return for the S&P 500 index /quotes/comstock/21z!i1:inx (SPX 1,089, -13.65, -1.24%) over the next six months. Fosback reports in the latest issue of his newsletter that his model is forecasting a 26% total return for the stock market over the next year and a 75% five-year return (equivalent to around 12% annualized).

Note carefully that, just because these models have good track records, there is no guarantee that they will be right. An r-squared of 0.3, for example, even though statistically quite impressive, still means that the bulk of the stock market’s returns over any given six-month period cannot be explained or predicted by the model.

Nevertheless, we should remember their past success when we are tempted to throw up our hands in despair at predicting the stock market’s daily ups and downs. We don’t have to be good at forecasting those gyrations in order to do very well, thank you, in predicting the market’s longer-term trend.

Mark Hulbert is the founder of Hulbert Financial Digest in Annandale, Va. he has been tracking the advice of more than 160 financial newsletters since 1980.

Longer term in focus