Banking, other deals drive stock indexes higher

Banking, other deals drive stock indexes higher
(12-21) 08:55 PST NEW YORK, (AP) -- Corporate deals are driving stocks higher. Toronto-Dominion Bank is buying Chrysler Financial, the automaker's old Lending arm, from Cerberus Capital Management LP for $6.3 billion. It was the latest example of a relatively healthy Canadian bank buying a U.S. lender battered by the Financial Crisis. Just four days ago Bank of Montreal bought Milwaukee-based bank Marshall & Ilsley Corp. for $4.1 billion. Corporate mergers have picked up strongly this year, an...

Stocks edge up on another round of dealmaking
NEW YORK (AP) - Deals are back in focus, and that's pushing stocks higher. Toronto-Dominion Bank agreed Tuesday to buy Chrysler Financial, the automaker's old Lending arm, from Private Equity firm Cerberus Capital Management LP for $6.3 billion. Dutch chemicals company Royal DSM NV also says it plans to buy US Biotech firm Martek Biosciences Corp. for $1.09 billion in cash. At the opening Tuesday, the Dow Jones industrial average is up 31 points, or 0.3 percent, to 11,508. The Standard & Poor'...

Stocks edge up on deals, positive upward momentum
NEW YORK (AP) — Positive momentum is setting the stage for a higher opening Tuesday on Wall Street amid another spate of corporate dealmaking. Major indexes are edging up in pre-market trading after Toronto-Dominion Bank agreed to buy Chrysler Financial, the automaker’s old Lending arm, from Private Equity firm Cerberus Capital Management LP for $6.3 billion. Dutch chemicals company Royal DSM NV also says it plans to buy US Biotech firm Martek Biosciences Corp. for $1.09 billion in c...

Stocks Climb Back to Their Pre-Lehman Disaster Level
Stocks closed broadly higher Tuesday, helped by more deal activity in the Financial Sector and an upbeat earnings report from the technology sector. After more than two years, the market has regained all its losses following the implosion of Lehman Brothers. The S&P 500 ($INX) now sits at a level not seen since early September 2008. The Dow Jones Industrial Average ($INDU) rose 55 points, or 0.6%, to close at 11,533. Among the blue-chip index's leaders Tuesday were financial stocks Bank of...

Stocks mixed as lift from tax cuts fades
(12-20) 09:45 PST NEW YORK, (AP) -- Stocks turned mixed Monday after three straight weeks of gains as upward momentum driven by a freshly signed Tax Cut package faded. Major indexes were mostly lower in afternoon trading, giving up earlier gains. They had edged higher last week as the tax deal moved its way through Congress. The package, which President Barack Obama signed into law on Friday, is expected to boost Economic Growth. Critics say it could also increase the size of the Budget defici...

Index futures rise on Adobe outlook, mergers
By Edward Krudy NEW YORK (Reuters) - Stock index futures rose on Tuesday as a higher earnings outlook from software maker Adobe Systems and more mergers looked to add fuel to the December rally. Adobe Systems Inc (ADBE.O) forecast earnings late on... Traders work on the floor of the New York Stock Exchange December 3, 2010. NEW YORK (Reuters) - Stock index futures rose on Tuesday as a higher earnings outlook from software maker Adobe Systems and more mergers looked to add fuel to the December ...

Nikkei hits 7-mth high close, tracks China rebound
Tue Dec 21, 2010 2:44am EST * Nikkei up 1.5 pct, biggest daily gain in almost 3 weeks * Blue-chip exporters chased by bargain hunters * Nikkei up 3.8 pct in December, still down 1.7 pct in 2010 * Volume low with foreigners absent ahead of holidays By Antoni Slodkowski and Ayai Tomisawa Tokyo, Dec 21 (Reuters) - Japan's Nikkei average rose to its highest close in seven months on Tuesday in holiday-thinned trade, as a rebound in Chinese equities encouraged inv...

U.S. markets close with solid gains
Published: Dec. 21, 2010 at 4:55 PM NEW YORK, Dec. 21 (UPI) -- U.S. markets followed Asian and European markets higher Tuesday, shaking off Monday's lackluster performance on positive retail news. The International Council of Shopping Centers in a weekly report said sales rose 1.7 percent in the week ending Dec. 18, but the week also outpaced the same week a year ago by 4.2 percent. Last-minute shoppers were still going through their lists. The ICSC said 73.9 percent of shoppers indicated on Sun...

Euro Becomes Increasingly Popular Choice to Fund Carry Trades
By Stephen L. Bernard The euro’s struggles could become more pronounced in coming months as traders increasingly use the beleaguered currency to fund so-called “carry trades.” That may sound surprising, given the yen and The Dollar’s singular appeal as currencies is that they cost next to nothing to borrow. But the euro is perceived to be so vulnerable to further declines on the foreign exchange market that big market participants are zeroing in on trades to bet against...

Japan's export growth sees boost in November
However, the November figure missed expectations for a 10.8 percent rise in a poll of Economists by Dow Jones Newswires. Analysts said the Japanese Economy remains locked in a trend of shrinking exports due to a stronger yen, which makes Japanese products more expensive in overseas markets, and expectations that overseas demand will weaken. "Japan's exports are slowing, a trend that remains the same," said Taro Saito, senior economist at NLI Research Institute. "The Economy continues to be press...

Commodities Falter in Currencies as History Shows Dollar Wins
Dec. 20 (Bloomberg) -- Speculators betting the commodities rally will continue into a third year are being confronted by currency investors wagering The Dollar will strengthen in 2011. If history is any guide, the foreign-exchange market will win. Traders have almost tripled their net-long positions in 20 raw-material futures the past five months to the highest level in at least four years, driving a 26 percent gain in the Thomson Reuters/Jefferies CRB Index, government data show. Contracts on t...

It Could Be a Happy New Year for Stocks
Stocks enter a holiday-shortened trading week with respectable returns for 2010 and the major indexes sitting at multiyear highs. Wall Street's average forecast calls for similar returns on the S&P 500 next year, but improving economic conditions at home and abroad, strong corporate profits and the Federal Reserve's easy-money policies have Joe Greco, managing partner at Meridian Equity Partners, even more Bullish on equities in 2011. The blue-chip Dow Jones Industrial Average is up a bit ...

Stocks Mixed on 1st Day of Holiday Week
NEW YORK (AP) - Stocks are closing mixed as light trading volume marks the first day of a short holiday week. American Express had the largest move Monday of any of the 30 stocks that make up the Dow Jones industrial average. The card issuer fell 3.5 percent after analysts downgraded the company because of rules proposed by the Federal Reserve that would cap the fees it can charge merchants. The yield on the 10-year Treasury note was unchanged at 3.33 percent. According to early figures, the Dow...

U.S. markets edge higher
Published: Dec. 22, 2010 at 10:38 AM NEW YORK, Dec. 22 (UPI) -- U.S. markets rose marginally higher Wednesday morning, reflecting a one-notch uptick in the government's estimate of Third Quarter economic output. The Commerce Department said the gross domestic product, the broadest measure of The Economy's performance, rose 2.6 percent in the third quarter, an upward revision of the 2.5 percent estimate released a month ago. Consumer prices, however, rose less than previously estimated in the thi...

Stocks end flat as light volume marks holiday week
File - In this Dec. 7, 2010 photo, Randy Beller, center, works with fellow... NEW YORK (AP) - Low trading volumes and a lack of economic reports kept stocks confined to a narrow range Monday. Indexes finished mixed and bond yields were barely changed. American Express Co. had the largest move of the 30 stocks that make up the Dow Jones industrial average. The card issuer fell 3.4 percent to $42.50 after Stifel Nicolaus downgraded the company. New rules proposed by the Federal Reserve could limi...

Stocks soar as Korea tensions, European debt worries ease+
TOKYO, Dec. 21 (AP) - (Kyodo)—Tokyo stocks rose sharply Tuesday, lifted by eased worries about heightened tensions on the Korean Peninsula and solid demand for dip-buying. Worries about Debt problems in Europe also eased after reports quoting China's vice premier as saying China supports European efforts to stabilize global markets, sending the 225-issue Nikkei Stock Average to end 154.12 points, or 1.51 percent, higher at 10,370.53, a fresh seven-month closing high. The broader Topix ind...

Stock index futures signal gains, Adobe eyed
PARIS | Tue Dec 21, 2010 4:43am EST PARIS (Reuters) - Stock index futures pointed to a higher open on Wall Street on Tuesday, with futures for the S&P 500 up 0.36 percent, Dow Jones futures up 0.32 percent and NASDAQ 100 futures up 0.27 percent at 0928 GMT (4:28 a.m. EDT). Adobe Systems Inc (ADBE.O) will be in focus after it issued an earnings forecast sharply above Wall Street projections, contrasting sharply with a pessimistic outlook three months ago when it was concerned about the wea...

Wall Street futures point to slightly lower open
LONDON (Reuters) - Stock futures for the Dow Jones industrial average, the S&P 500 and the NASDAQ 100 all fell 0.1 percent, pointing to a slightly weaker start for equities on Wall Street on Wednesday. Boeing Co (BA.N) said it will soon announce... Traders work on the floor of the New York Stock Exchange December 3, 2010. LONDON (Reuters) - Stock futures for the Dow Jones industrial average, the S&P 500 and the NASDAQ 100 all fell 0.1 percent, pointing to a slightly weaker start for eq...

Stocks Advance at Start on Earnings, Deal News
Encouraged by solid earnings reports and several M&A deals, Wall Street climbed higher at Tuesday’s open, leaving the markets on track to hit fresh 2010 highs. As of 9:33 a.m. ET, the Dow Jones Industrial Average rose 40.95 points, or 0.36%, to 11520.06, the Standard & Poor's 500 gained 4.93 points, or 0.40%, to 1252.01 and the NASDAQ Composite jumped 11.10 points, or 0.42%, to 2660.61. The FOX 50 picked up 2.97 points, or 0.33%, to 894.64. “Historically the market tends to t...

Stocks flat as GDP growth falls below estimates
The Commerce Department said that the country's gross domestic product rose 2.6 percent between July and September. It originally estimated that the GDP rose 2.5 percent. While the revision was a slight improvement, it fell short of the 2.8 percent growth analysts were expecting. Economic reports will likely remain a focus of Wall Street Wednesday. After the opening bell, investors will learn how the Housing Market fared in November. The National Association of Realtors will release its report ...

Stocks mixed as GDP growth falls below estimates
The Commerce Department said that the country's gross domestic product rose 2.6 percent between July and September. It originally estimated that the GDP rose 2.5 percent. While the revision was a slight improvement, it fell short of the 2.8 percent growth analysts were expecting. Economic reports will likely remain a focus of Wall Street Wednesday. After the opening bell, investors will learn how the Housing Market fared in November. The National Association of Realtors will release its report ...

Stocks set to rise after Obama extends tax cuts (AP)
NEW YORK – An extension of Tax Cuts for all Americans is giving stocks a lift. All three major indexes are set to rise Monday after President Barack Obama signed a $858 billion package Friday renewing Tax Cuts for another two years and extending expiring Unemployment Benefits through next year. The package is expected to boost Economic Growth, although critics say it will unnecessarily increase the federal Deficit and fuel higher Inflation. Ahead of the opening bell, Dow Jones industrial...

Checkmate | BofA, GMAC, Chase, Wells, Citi, Onewest Face N.J. Foreclosure Freeze
KABOOM! BofA, GMAC, Chase, Wells, Citi, Onewest Face N.J. Foreclosure Freeze This is coming in from multiple fronts... Chink in the Armor The State Supreme Court of NJ has ordered a halt to all foreclosure in the state of NJ. This is most excellent news for the reason you may not realize: NJ is owned by the Wall St. Bankers. Remember the movie Copland about a town in NJ owned and run by a bunch of NYC cops? Guess who used to be Governor of NJ? Corzine. Guess what his job was before he became G...

Tim Chen: The Dangers of no Preset Spending Limit Cards
While most people understand that using all of their available credit can be detrimental, they don't understand why it affects their Credit Score. It can be summed up in two words: Credit Utilization. Credit utilization is the amount of credit that a consumer has consumed versus the amount of credit that consumer has available. It is this ratio that FICO uses as part of the formula for a consumer's "amounts owed" section. This section makes up 30% of a person's FICO score. As FICO is the larg...

JPMorgan Dominates in Investment Banking Top Line
When it comes to Investment Banking, 2010 belongs to JPMorgan Chase, according to the results of a Dealogic study reported by The Wall Street Journal. In its gold-medal performance, JPMorgan raked in $5.2 billion this year. Bank of America came in second with $4.6 billion, followed by Goldman Sachs with $4 billion. And wherever there are winners, there are inevitably some losers. From The Journal: Among the biggest losers, Royal Bank of Scotland Group PLC's investment-banking revenue fell 23%,...