MARKETS:
Bank stocks ignite big rally
Blue-chip indicator is back above 10,000 after State Street's improved
forecast lifts financial issues, giving a boost to a market battered
in recent weeks.
STATE STREET SURGE LEADS FINANCIALS RALLY
State Street Corp. paces gains in the U.S. financial sector, after the
trust bank raises its second-quarter earnings forecast on improved
revenue trends.
U.S. STOCK GAINS ACCELERATE ON FINANCIALS, ENERGY
U.S. stocks advance as the financial sector gains on a rosy forecast
from State Street and energy stocks get a boost from higher crude
prices.
EUROPE EDGES HIGHER AS BANKS OFFSET MINERS
European shares turn losses into modest gains, lifted by the financial sector.
BP SAID COMFORTABLE WITH LARGE ABU DHABI STAKE
BP is reportedly comfortable with Abu Dhabi taking a stake as large as
10%, according to a published report.
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| Dow : 9,743.62 up 57.14 | S & P : 1,028.06 up 5.48
|
| NASDAQ: 2,093.88 up 2.09 | Bond (10Y): 2.93% down 0.047
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MARKETS:
Dow breaks 7-session losing streak
Market manages advance after a choppy session in which worries about
the economy were eventually trumped by a little buying after the big
sell-off.
U.S. STOCKS STRONG ON CHIP SALES, AUSSIE BANK
U.S. stocks rose Tuesday, boosted by bullish comments from Australia's
central bank and reports that global chip sales rose 4.5% in May from
the prior month.
U.S. SERVICE SECTOR WEAKENS A BIT IN JUNE
The service sector of the U.S. economy continued to grow in June, but
at a slower pace, according to a survey of companies released by the
Institute for Supply Management.
TREASURYS TURN UP AGAIN AFTER ISM SERVICES DATA
Treasury prices turn higher after a brief turn down, as traders eye
stock-market gains.
BP'S NEW YORK-LISTED SHARES EXTEND BOUNCE
BP's New York-listed shares extended gains Tuesday, reflecting hopes
that the oil giant's battered shares may discount the costs of the
Gulf of Mexico oil spill and attract new holders.
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| Dow : 9,686.48 down 46.05 | S & P : 1,022.58 down 4.79
|
| NASDAQ: 2,091.79 down 9.5 | Bond (10Y): 2.98% up 0.052
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MARKETS:
Stocks: Pursued by a bear
The recent selloff has left markets in danger of falling into a bear
market - a decline of at least 20% off the highs.
EUROPEAN SHARES WAVER BUT OIL GIANT BP GAINS
European shares struggle for direction on Monday with U.S. markets
closed for a holiday amid lingering worries about growth, although oil
giant BP managed to gain ground.
U.K. SERVICE-SECTOR GROWTH HIT BY BUDGET
Activity in Britain's services sector slowed more sharply than
expected in June, undercut by worries about government spending cuts
and a tax rise, according to a monthly survey of purchasing managers
released Monday.
DOLLAR MOSTLY HIGHER
The dollar gains slightly versus the euro and pound after purchasing
managers indicated a slowdown in U.K. service-sector activity last
month.
BP BRACING FOR SHAKE-UP: REPORT
Investors are braced for a change in BP PLC's leadership once its
leaking oil well in the Gulf of Mexico is capped, which could come in
the next few weeks, according to a media report Saturday.
BP TESTS TAIWANESE OIL-SKIMMING SHIP
Vessel's owners claim it can remove 300,000 to 400,000 gallons of
spilled oil from the Gulf of Mexico every day.
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| Dow : 9,686.48 down 46.05 | S & P : 1,022.58 down 4.79 |
| NASDAQ: 2,091.79 down 9.57 | Bond (10Y): 2.98% up 0.052 |
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MARKETS:
Stocks end at new 2010 lows
Markets can't overcome weak June jobs report as investors head into a
holiday weekend.
