Yahoo Rebounds, European Stocks Higher
Jul 02, 9:23 AM EDT |
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| U.S. stocks are expcted to open higher. Yahoo rebounds 5% after Microsoft, Time Warner and News Corp consider another bid to divide the company. |
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| U.S. stocks are expected to open higher in the morning trading and European stocks are advancing. Banks and pharmaceuticals lifted the market indexes in Europe. A private survey of private employers suggested a loss of 79,000 jobs in the U.S. in June. Yahoo deal appears to be in focus again after Microsoft, Time Warner and News Corp may make a second run at the company. India soared 5% in the overnight trading. |
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GM Sales Lift Indexes
Jul 01, 4:59 PM EDT |
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| U.S. stocks staged a rally after General Motor June sales fell less than estimated. GM sales fell 19% and Hummer division declined 56%. |
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| U.S. stocks staged a turnaround in the afternoon after the release of June auto sales. Sales declined in the months on three fewer selling days compared to a year ago and consumers held back on large vehicles. The annualized sales decline represent nearly 16% drop from a year ago. Stocks staged a rally, led by a rise in General Motors after it reported a decline of 19% less than estimated. chrysler led the industry with a loss of 36% and Ford sales fell 28%. |
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Transportation Stocks Lead Decliners
Jul 01, 12:57 PM EDT |
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| U.S. stocks fell sharply on another increase in crude oil prices. Airlines, package shippers and freight companies fell. |
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| U.S. stocks declined sharply by the early afternoon as crude oil hovered near record level and talks of a military strike against Iran dampened the moood. Dow, S&P 500 and Nasdaq dropped 1%. Transportation stocks declined, led by a sharp fall in AMR Corp, UAL and Delta Airlines. UPS and FedEx declined 3% on a rise in crude oil prices. |
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CIT Soars 24%, Oil Surges $3, Stocks Down
Jul 01, 10:15 AM EDT |
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| U.S. stocks trade lower as crude oil reached $3 a barrel and financials decline. Banks, brokerages and transportation decline. |
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| U.S. stocks struggle in the morning trading after crude oil increases $3 to $143 a barrel. The talks of possible military strike on Iranian installation lifted prices of oil and gold. U.S. stock fell as talks of lower than estimated earnings for the second quarter dominate trading. CIT soars 24% after it agreed to sell its home lending unit and record a pre-tax loss of $2.5 billion. Asian markets closed lower with India losing 3.7%. |
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