Equities News Equities News
Equity Market News 29th July 2010

Equity Org Headlines:

Crude, precious metals prices fall; base metals mixed

Oil prices fall as US inventories swell

Crude oil trades lower, but most metals prices rise

Crude prices up despite rising oil, gasoline inventories in US

Crude oil, metals prices start year with gains

Crude prices up, metals lower ahead of holidays

Natural gas prices rise as other energy, metals prices decline

Crude oil, metals prices jump on data

Crude falls in New York, metals gain on session

US inventories send oil prices lower

08/09/05

Permalink 04:06:13 pm, Categories: New York NYSE, Technology, Retail, Services, Real Estate, Property, 229 words  

Investors consider construction boom after hurricane

The New York Equities markets were down slightly on Thursday after big gains on Tuesday and more subdued gains on Wednesday, as the market seems to have been proceeding on the assumption that the economy will benefit from the aftermath of Hurricane Katrina rather than decline due to disruptions and dislocations.

Most analysts are betting that in the wake of the storm rebuilding will benefit the economy, interest rates will stop rising, and oil prices will go down. Others are not so sure that this will be the case.

The Dow Jones Industrial Average dropped 0.4 percent to close the day at 10,595.93, the Nasdaq composite lost 0.3 percent to 2,166.03, and the S&P 500 declined by 0.4 percent to 1,231.68.

Homebuilders were generally down on the day, with Hovnanian leading the decline after reporting earnings that fell below predictions. Hovnanian fell by 6.7 percent to $57.49. Elsewhere in the sector, KB Homes declined by 1.6 percent to $74.69, Lennar fell 2.4 percent to $60.95, and Toll Brothers lost 3.3 percent to $47.25.

Coca-Cola Enterprises dropped 9.6 percent on the news that it had reported less-than-positive earnings guidance. Discount retailer Sears Holdings fell by 5.2 percent to $127.81 on earnings that were below expectations. EBay lost 3.8 percent to $38.93, bringing its decline for the year to 34 percent and making it one of the S&P’s worst performers.

On the other hand, Apple gained 2.3 percent to $59.78 as it presented its new iPod for mobile phones.

Permalink



Syndicate this blog XML

 

Equities Org copyright 2005 Central Consultants: All Rights Reserved