Analysis Stock market down november 15 2012 : Stock indexes edged lower Thursday after U.S. retailers issued weak forecasts for earnings and jobless claims rose. Wal-Mart, Ross Stores and Limited Brands, the owner of Victoria's Secret, all fell after issuing forecasts that disappointed financial analysts. Wal-Mart fell $2.56, or 3.6 percent, to $68.75.
The Dow Jones industrial average wavered between small gains and losses shortly after the opening bell, then moved lower at midmorning. As of 2:45 p.m. EST, it was down 32 points at 12,538.
The Standard & Poor's 500 index was down two points at 1,353 and the Nasdaq composite was down eight at 2,837.
Stocks have fallen steadily since voters returned President Barack Obama and a divided Congress to power. The Dow lost 5 percent from Election Day, Nov. 6, through Wednesday's close.
Investors are worried about whether they will reach a deal before tax increases and government spending cuts take effect Jan. 1. The impact would total $700 billion for 2013 and could send the country back into recession.
President Barack Obama is to meet with congressional leaders Friday to talk about the budget, but he appeared to suggest Thursday that he would insist on an increase in tax rates for the wealthy.
T. Dale, a portfolio manager at Security Ballew Wealth Management in Jackson, Miss., said that stocks are more likely to fall than rise, partly because of slowing global economic growth and the U.S. budget impasse.
"The market has gotten well ahead of itself," Dale said.
Superstorm Sandy drove the number of people seeking unemployment benefits up to 439,000 last week, the Labor Department reported. Applications for benefits rose 78,000, mostly because a large number were filed in storm-damaged states.
The European Union's statistics agency confirmed that the eurozone, the group of 17 countries that use the euro currency, are in recession. The overall economy shrank 0.1 percent in the third quarter from the previous three-month period.
Among the retailers disappointing Wall Street with lower earnings forecasts, Ross Stores, whose stores includes Ross Dress for Less, fell 78 cents, or 1.4 percent. Limited Brands dropped $1.20, or 2.6 percent, to $45.40.
The yield on the 10-year Treasury note was little changed at 1.59 percent.
Among stocks making big moves:
- NetApp, a data storage business, jumped $2.92 to $30.05 after the company reported earnings that were higher than analysts were expecting.
- Viacom, the owner of Nickelodeon, MTV and the Paramount movie and TV studio, rose $1.73 to $49.72. The media conglomerate did better than investors had expected thanks to lower costs and higher fees from cable and satellite companies for carrying its cable networks.
- Petsmart, a specialty pet retailer, jumped $2.31 to $67.17 after raising its full-year outlook.
- Target rose $1.19 to $62.58 after reporting that its profit rose more than analysts had forecast. The company also issued a strong outlook heading into the critical holiday season.
- Dollar Tree, a discount retailer that sells items for $1 or less, gained $2.08 to $39.82 after the company said its net income gained 49 percent in the third quarter.
- Apple's market value fell below $500 million for the first time since May, as the maker of smartphones and tablets dropped $8.01 to $529. The company's market value climbed as high as $658 million Sept. 19, according to FactSet data.
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16 Kasım 2012 Cuma
Analysis Stock market down november 15 2012
15 Kasım 2012 Perşembe
Why Asian stocks market down 14 2012
Why Asian stocks market down 14 2012 : Asian stocks tumbled Thursday as hopes began to fade for a quick agreement among U.S. leaders to avoid a "fiscal cliff" that could derail the world's biggest economy.
Unless President Barack Obama and Congress reach a compromise, a series of expiring tax cuts and across-the-board spending reductions will take effect in 2013 - at a cost of about $800 billion. Economists say that could knock the U.S. economy back into recession.
A widely predicted leadership change in China didn't appear to impact stock markets one way or the other. As expected, Xi Jinping secured the top spot in the Communist Party on Thursday, replacing outgoing leader Hu Jintao. Xi was introduced as general secretary at Beijing's Great Hall of the People, a day after the close of a party congress that underlined the communists' resolve to hold on to power.
Hong Kong's Hang Seng fell 1 percent to 21,237.14. South Korea's Kospi shed 1.3 percent to 1,869.32. Australia's S&P/ASX 200 fell 0.9 percent to 4,349.40. Benchmarks in Singapore, Taiwan, Thailand and mainland China also fell.
Analysts at Credit Agricole CIB said in a market commentary that a "cautious tone" is likely to permeate trading, given the uncertainty over the situation in the U.S. Obama is expected to meet the top leaders of both political parties at the White House on Friday for discussions.
Meanwhile, Japanese stocks were kept buoyant by reports that Japanese parliamentary elections have been set for Dec. 16 and a weakening yen. The Nikkei 225 index jumped 1.8 percent to 8,817.10 after Prime Minister Yoshihiko Noda reportedly pledged to dissolve the parliament by Friday if the opposition agreed to key reforms.
"Japan is up today because of the announcement of an election date in the hope that there may be some more stimulatory policies as a result of that," said Peter Elston, strategist at Aberdeen Asset Management in Singapore.
Overall, many investors remain uneasy with the persistent weakness in the world's biggest economies and a lack of private sector confidence, which discourages companies and households from spending despite stimulus programs by central banks.
"The concern that I have is that when economies were weak three years ago, governments were able to come to the rescue," Elston said. "They are not as able to provide support now because their balance sheets are a lot weaker than they were."
Investors also remain unnerved after demonstrations Wednesday in Europe by workers who are protesting the austerity measures that governments have been imposing to reduce public debt.
On top of that, official figures showed industrial output among the 17 countries that use the euro dropped 2.5 percent on the month in September, worse than analysts had expected. Figures on Thursday are expected to confirm that the eurozone is in recession.
Among individual stocks, Hong Kong-listed Esprit Holdings Ltd. shot up 20 percent on news that former chairman Michael Ying doubled his stake to about 10 percent, raising hopes that he would return to help turn around the company, which has suffered due to Europe's debt crisis.
A weakening yen helped Japan's exporters by making their products less expensive when sold overseas. Mazda Motor Corp. soared 5.6 percent. Honda Motor Co. surged 3.9 percent.
Stocks on Wall Street fell sharply Wednesday as hope diminished for a compromise on the tax and spending cuts due to take effect in 2013. The Dow closed down 1.5 percent, at 12,570.95. The Standard & Poor's 500 index fell 1.4 percent to 1,355.49. The Nasdaq composite index lost 1.3 percent to 2,846.81.
Benchmark oil for December delivery was down 2 cents to $86.30 in electronic trading on the New York Mercantile Exchange. The contract rose 94 cents to close at $86.32 a barrel on the Nymex on Wednesday.
In currencies, the euro fell to $1.2735 from $1.2745 late Wednesday in New York. The dollar jumped to 80.80 yen from 80.17 yen.
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Gold futures down in Asia trading november 14 2012
Gold futures down in Asia trading november 14 2012 : Gold futures slipped in Asia trading hours on Thursday to give back some of the gains made in the previous session, but U.S. political divisions over the fiscal cliff helped put a floor under prices.
Gold for December delivery edged down $3.90 to $1,726.20 an ounce in electronic trade on the Comex division of the New York Mercantile Exchange.
During the regular Nymex session Wednesday, the precious metal rose $5.30, or 0.3%, to settle at $1,730.10 an ounce.
GFT Markets technical analyst Fawad Razaqzada equated Wednesday’s gains for gold with a search for safe-haven assets.
“Gold and silver edged higher on Wednesday as equities sold off. Investors are clearly worried about the looming fiscal cliff and are appropriately increasing their bullish positions in precious metals,” he said.
Gold needs to close over its $1,740 resistance to attract fresh buyers, he said.
HSBC metal analysts expected gold to benefit as long as the fiscal cliff — more than $600 billion of tax hikes and spending cuts due to start in January if U.S. lawmakers don’t reach a deal — remains high on the radar for investors.
“A lack of progress in resolving the ‘fiscal cliff’ issue would be gold-friendly, we believe,” the analysts said. “The path of least resistance appears higher for bullion.”
The dollar was barely changed, offering little direction for gold. The ICE dollar index , which measures the greenback against a basket of six other currencies, edged down to 81.097 from 81.111 in late North American trading Wednesday.
Elsewhere in the metals complex, silver for December delivery traded down 21 cents at $32.68 an ounce.
Copper for delivery in the same month rose 1 cent to $3.46 per pound.
December palladium fell $7.45 to $634.10 an ounce, while January platinum declined $6.90 to $1,584.70 an ounce.
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13 Kasım 2012 Salı
why Asian stock markets down november 13 2012
why Asian stock markets down november 13 2012 : Asian stock markets fell Tuesday, after Europe’s finance ministers postponed approval of an urgently needed aid payment for debt-mired Greece.
The ministers, meeting Monday in Brussels, gave Greece two more years, until 2016, to cut its deficit and make changes to its economy. But they delayed approval of the next installment of a huge bailout loan — some €31.5 billion ($40 billion), intended to keep the country temporarily afloat.
Analysts at Credit Agricole CIB in Hong Kong said in a market commentary that the Eurogroup meeting did not “result in an agreement to deliver Greece its next loan tranche but this came as no surprise.”
The European Central Bank, the International Monetary Fund and the European Commission have twice agreed to bail out Greece, pledging a total of €240 billion in rescue loans. The country has received about €150 billion of those loans so far, in exchange for making tough budget cuts and sweeping reforms to its labor market and bureaucracy.
Japan’s Nikkei 225 index fell 0.3 percent to 8,647.28. Hong Kong’s Hang Seng lost 1 percent at 21,211.94. South Korea’s Kospi dropped 0.7 percent to 1,887.51. Australia’s S&P/ASX 200 fell 1.1 percent to 4,399.70.
Markets continued their slump from Monday, when government data released in New Delhi showed India’s industrial production contracting 0.4 percent in September, far worse than expected. Manufacturing output continued to slump amid signs of weakness in investment and consumer demand.
The results indicate that Asia’s third-largest economy still has a way to go to pull itself out of its current slowdown.
U.S. stocks closed nearly unchanged Monday, after a day of uneven trading plagued by investors’ fears about the approaching “fiscal cliff.”
The fiscal cliff refers to government spending cuts and tax increases that are scheduled to kick in at the beginning of the new year, unless a divided Congress and the White House can work out a compromise before then.
The Dow Jones industrial average finished down 0.31 points at 12,815.08. The Standard & Poor’s 500 index rose 0.18 points to 1,380.03. The Nasdaq composite index fell 0.61 points to 2,904.26.
Benchmark oil for December delivery fell 36 cents to $85.21 per barrel in electronic trading on the New York Mercantile Exchange. The contract fell 50 cents to finish at $85.57 per barrel.
In currencies, the euro fell to $1.2683 from $1.2714 late Monday in New York. The dollar from fell to 79.41 yen from 79.46 yen.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Greek worries weigh on shares, commodities market today nov 13 2012
Greek worries weigh on shares, commodities market today nov 13 2012 : Asian shares and commodities pulled back on Tuesday on uncertainty over the U.S. fiscal row and the euro zone debt crisis, where global lenders held back from giving further aid to debt-stricken Greece.
The euro dropped 0.2 percent to a two-month low of $1.2676 , which hoisted the dollar index to a two-month high of 81.20.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.9 percent in a decline led by growth-sensitive energy and technology sectors.
Worries about weak global demand, underscored on Monday by data showing Japan's economy shrank, and the firmer dollar weighed on commodities prices and some regional share indexes.
Stocks in resource-rich Australia dropped 1.1 percent while Hong Kong shed 1 percent and Shanghai lost 1.2 percent.
Japan's Nikkei average gave up early gains to fall 0.3 percent to a four-week low, putting it on course for a seventh straight session of decline.
"Investors can't assess the extent of impact from the fiscal cliff and it could be months before the issue is settled, so this uncertainty is keeping investors guarded," said Yuuki Sakurai, chief executive of Fukoku Capital Management.
"This, along with Europe continuing to muddle through its fiscal problems, is putting downside pressure on markets."
U.S. lawmakers return to the capital on Tuesday. Analysts say a failure to act on scheduled $600 billion in tax increases and government spending cuts due early next year could tip the United States back into a recession.
Greece's international lenders agreed on Monday to give Athens two more years to meet budget targets but euro zone finance ministers did not disburse more aid. Euro zone finance ministers will meet again on Nov. 20 to discuss Greece.
Sakurai said market caution over the leadership transition in China this week is offsetting more bullish sentiment from recent data suggesting a pick up in the economy. Investors want to see the political change completed without any problems and the shape of the new leaders' policies, he said.
COMMODITIES SLIP
Reflecting the slight risk aversions, Asian credit market spreads on the iTraxx Asia ex-Japan investment-grade index widened by 1 basis point.
U.S. crude futures fell 0.4 percent to $85.20 a barrel and Brent dropped 0.4 percent to $108.60.
London copper eased 0.3 percent to $7,618.75 a tonne and gold inched down 0.2 percent to $1,723.44 an ounce, having failed to test last week's high around $1,738.
"I think there's some disappointed selling. Of course a strong dollar also affects gold a little bit," said Ronald Leung, director of Lee Cheong Gold Dealers in Hong Kong.
Analysts have said commodities are under pressure from hedge fund selling as they close their books for the year.
U.S. shares ended little changed on Monday in low volume trading while European shares fell.
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12 Kasım 2012 Pazartesi
U.S. stock futures Dow Jones rose november 12 2012
U.S. stock futures Dow Jones rose november 12 2012 : U.S. stock-market futures edged higher on Monday, with a lack of data and a holiday expected to turn the focus to Europe and a finance ministers meeting.
Earnings from homebuilders D.R. Horton Inc. and Beazer Homes USA Inc. may also provide direction.
Futures for the Dow Jones Industrial Average rose 29 points to 12,793, while those for the Standard & Poor’s 500 index rose 3.8 points to 1,379.50.
Futures for the Nasdaq 100 index rose 9.25 points to 2,589.75.
U.S. stocks are expected to zigzag this week, with negotiations over automatic spending reductions, and whether the U.S. will go over the so-called fiscal cliff, the chief concern of investors. Read: U.S. stocks to follow erratic ‘fiscal cliff’ path
Wall Street stocks finished with modest gains last Friday but the S&P 500 and Dow Jones Industrial Average indexes suffered their worst week since June 1 as measured by weekly percentage drops, down 2.1% and 2.4%, respectively. Read: Current drop echoes 1987 crash prelude
Greece in focus
Bond markets and government offices are closed in the U.S. on Monday for the Veterans Day holiday, and the data calendar is empty. That may push Greece and Europe into the spotlight for investors.
Greece passed its 2013 budget ahead of a meeting of finance ministers due later in the day. The budget passage marks another key step in releasing a tranche of aid payments needed to boost the country’s finances
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Tech Mahindra stock outlook 2012-2013
Tech Mahindra stock outlook 2012-2013 : Largest IT solution provider to telecom industry: With its global footprint and presence in more than 31 countries, Tech Mahindra is the largest IT solution provider to global telecommunication companies.
As per the latest Voice & Data magazine’s Annual Survey, it leads Indian telecom software services market in FY 12 with 20.9 % market share. Acquisition like Satyam & Comviva will provide business synergies, diversification & scalability. With this Tech Mahindra stands to become leading telecom support service provider in India.
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