Money Matters - Simplified


Wall Street falls as US government faces possible shutdown

Wall Street falls

The United States Government is in a quagmire as it struggles with the emergency funding bill which is stalled by the Republican party in the US Congress.

Record-breaking sales for new iPhone

Pre-order sales of the new iPhone 4S have been overwhelming, according to Apple and the various phone carriers selling the handset.

US, Europe stocks slide on Greece default fears

Stock markets took a beating worldwide Friday after disagreement over handling Europe's debt crisis scared investors into divesting risky assets.

Markets post best gain of week

New York -- U.S. markets posted their best gain of the week Friday despite worry over Chinese and U.S. trade balance reports and a tighter monetary policy in Beijing.

At the close, the Dow Jones industrial average added 40.26 points or 0.35 percent to 11,410.30. Advancers topped decliners 1,938-1,076 on volume of 4.547 billion shares on the New York Stock Exchange.

The Standard & Poor's 500 index added 7.40 or 0.6 percent to 1,240.40. The Nasdaq composite index gained 20.87 or 0.8 percent to 2,637.54.

The benchmark 10-year treasury note fell to yield 3.32 percent.
The euro fell to $1.3227 from Thursday's $1.3243. Against the yen, the dollar rose to 83.943 yen from Thursday's 83.7 yen.

Markets in limbo over trade figures

NewYork -- U.S. markets opened flat Friday morning with investors considering Chinese and U.S. trade balance reports and a tighter monetary policy in Beijing.

In midmorning trading on Wall Street, the Dow Jones industrial average shed 0.02 percent, 2.42 points, to 11,367.64. The Standard & Poor's 500 index added 0.05 percent, 0.60, to 1,233.60. The Nasdaq composite index gained 0.04 percent, 1.17, to 2,617.84.

The benchmark 10-year treasury note fell 12/32 to yield 3.26 percent.
The euro fell to $1.3185 from Thursday's $1.3243. Against the yen, the dollar rose to 83.94 yen from Thursday's 83.70 yen.

In Tokyo, the Nikkei 225 index lost 0.72 percent, 73.93, to 10,211.95.

Markets mixed Thursday

New York -- U.S. markets opened mixed Thursday after the U.S. Department of Labor reported first-time jobless claims fell by 17,000 in the week ending Dec. 4.

As expected, the Bank of England left its overnight lending rate unchanged at 0.5 percent Thursday. The leading index in Britain rose 0.4 percent in October, the Conference Board said.

In most of Asia and Europe markets rose. The dollar index, a pro-rated measure of the greenback against six major currencies, rose 0.32 percent to 80.26, climbing for the third consecutive trading session.

U.S. markets inch lower

New york -- U.S. markets slid lower Monday morning after U.S. Federal Reserve Chairman Ben Bernanke said the economy recovery remained fragile.

In an interview aired on CBS news show "60 Minutes," Bernanke said the central bank would consider expanding its much-criticized $600 billion bond purchasing program if it proved necessary. He also said the recovery "may not be" self-sustaining, The New York Times reported.

The remarks followed Friday's Labor Department report that said the unemployment rate jumped from 9.6 percent to 9.8 percent in November.

Gold, less attractive, loses $2.60

New York -- Gold prices fell in New York Monday as equities became attractive with Wall Street extending a rally into the second day.

The Dow Jones industrial average gained 249 points Wednesday and added an additional 106 Thursday.

On the Comex division of the New York Mercantile Exchange gold lost its luster with prices falling $2.60 to $1,385.70. Crude oil prices for January delivery added $1.23 to $87.98 per barrel.

The U.S. dollar fell broadly, losing ground against the Australian dollar, the Hong Kong dollar, the South Korean won and the Canadian dollar.

The euro rose to $1.3219 from Wednesday's $1.3137. Against the yen, the dollar fell to 83.86 yen from Wednesday's 84.17 yen.

Stocks continue December streak

New York -- U.S. stock markets headed higher Thursday despite a higher-than-expected climb in first-time unemployment benefit claims.

First-time benefit claims for the week ending Nov. 20 reached 436,000, about 11,000 more than economists had forecast.

In its first estimate, Eurostat said the gross domestic product in the European Union rose by 0.5 percent in the third quarter over the second and 2.2 percent above the third quarter of 2009.

ICSC: Holiday shopping not over for many

Washington -- A U.S. retail trade group said 32.6 percent of U.S.

shoppers said they were done with holiday purchases on Nov. 28, meaning spending for many had barely begun.

The International Council of Shopping Centers said Tuesday the percentage of shoppers indicating they were done for the year at the end of November survey was "far lower than in recent years."

For retailers, that news bodes well after what many considered a successful week in the retail sector.

Receipts at chain store rose 0.5 percent in the week ending Nov. 27, with sales boosted by bargain hunters, ICSC said.