Themajor US equity indices closed mixed Monday despite a positive report from the Institute for Supply Management (ISM). The ISM reported that its manufacturing index boosted during October, ahead of economist expectations of a slow down during the month. In corporate news, Ryanair Holdings PLC (NASDAQ:RYAAY) reported a 17% boost to its first half net profit, to 451.9 million euro, or $628 million. The airline’s average fare rose 12% from April to September to 44 euro, or $61 dollars.
The major US equities closed lower Tuesday on overseas news regarding European banks. Reports showed that European banks hold more “risky” government debt than previously disclosed during stress tests from earlier this year. In corporate news, after being named co-president of Oracle Corp. (NASDAQ:ORCL), former Hewlett-Packard Co.
Themajor US equity indices closed lower Thursday despite a report from the Labor Department showing a decline in first-time claims for unemployment. Claims fell 31000 to 473000 last week. Economists expected a drop to 490000. In corporate news, Novell, Inc. (NASDAQ:NOVL) reported Q3 EPS of $0.06, ex-items, falling behind consensus estimates of $0.07 per share.
Themajor US equity indices closed lower Friday following a downgrade of Spain’s debt rating, which increased investor’s fears over European credit. Fitch Ratings lowered Spain’s long-term foreign and local currency issuer default ratings from AAA to AA+. The Commerce Department said that consumer spending was flat in April and that personal income rose 0.4%, which just missed economists’ expectations for an increase of 0.5%. The Reuters/University of Michigan consumer sentiment index rose to 73.6 from a preliminary May reading of 73.3. The Chicago PMI fell to 59.7 in May, down from 63.8 last month, missing consensus estimates that the index would fall to 62
March 11, 2010: 4:15 PM ET — The major US equity indices closed higher Thursday after positive weekly jobless claims data and despite rising concerns that China may raise interest rates to avoid inflation. The Chinese consumer price index, which tracks inflation at the retail level, rose 2.7%. If interest rates are raised it could slow one of the most rapidly growing economies. The Labor Department reported that the number of people applying for unemployment benefits fell by 6000 last week, which is the second decline in a row.
Good Morning. It’s Monday, March 8, 2010. At this hour, US equity futures are trading down. Overseas, the Asian markets were mixed, while the European markets are generally lower.
3/3/2010-General Motors Vice Chairman, Bob Lutz, will retire on May 1, according to a press release Wednesday. Lutz, 78, has been acclaimed for designing some of America’s most poplar vehicles and most recently guided the company to its newest vision, the all-electric Volt vehicle.
Last updated March 3, 2010: 8:15 AM ET — US stock futures are trading mixed Wednesday as investors remain cautious ahead of reports on the jobs market and service sector industry. The ADP reported that US private employers shed 20000 jobs in February, inline with estimates and fewer than the 60000 jobs lost in January. Economists expect the Institute of Supply Management’s service sector index rose to 51 last month, up from 50.5 in January. A reading over 50 indicates growth
Clean technology’s latest development coming out from Silicon Valley company, Bloom Energy. The company unveiled the Bloom Energy server or the Bloom Box, which is uses fuel, natural gas, to generate power. Multiple small units have already been sold to large companies, such as Wal-Mart, ebay and fedex.