Showing posts with the label MarketWatch - Bulletin

The Fed Market Actions: Fed's Tarullo backs more MBS purchases: MarketWatch | News Bulletin

By Greg Robb    WASHINGTON (MarketWatch) -- Federal Reserve Board Gov. Daniel Tarullo on Thursday backed another large-scale purchase program of agency-backed, mortgage-backed securities to support the economy. In a speech at Columbia University in New York, Tarullo said that the purchases could help the housing market, which is "central to the slow pace of the recovery." The Fed has already purchased $1.25 trillion of agency MBS in 2008 and 2009 as part of its $2.3 trillion of asset purchases, or quantitative easing. Tarullo said that a proposal to allow underwater homeowners to refinance their mortgages would increase the effect of an MBS purchase plan. In an interview with The Wall Street Journal published Thursday, Boston Federal Reserve Bank President Eric Rosengren also said the Fed should consider more MBS. Tarullo added that he disagreed with some Fed officials who believe the central bank has done

U.S. housing starts fall 5% in August to 571,000: MarketWatch - Bulletin

By Jeffry Bartash    WASHINGTON (MarketWatch) - The start of construction on new U.S. homes fell 5.0% in August to an annual rate of 571,000, but permits rose 3.2%, the government reported Tuesday. Housing starts in July were revised down to 601,000 from an original reading of 604,000, according to Commerce Department data. Economists surveyed by MarketWatch had expected housing starts in March to drop to an annual rate of 590,000 on a seasonally adjusted basis. Yet permits for new construction, viewed as a gauge of future demand, increased to an annual rate of 620,000 from 601,000 in July. It was the highest level since December. Permits for single-family homes, which account for nearly three-quarters of the housing market, rose 2.5% to an annual rate of 413,000 last month. That's the highest level since January, though new construction is still extremely weak by historical standards.

Obama's jobs plan to cut taxes for every small business and include tax breaks for hiring:

By Greg Robb    WASHINGTON (MarketWatch) - President Barack Obama on Thursday will press Congress to quickly pass his jobs plan to give a jolt to the stalled economy, according to excerpts of his remarks released by the White House. Obama will say the purpose of the plan is simply "to put more people back to work and more money in the pockets of those who are working." He added there should be "nothing controversial" about his plan, and that "everything" in the bill will be paid for. "You should pass this jobs plan right away," the president will urge legislators. The proposal would also provide tax breaks for companies who hire new workers and cut payroll taxes in half for "every working American and every small business."

ISM services-sector index rises to 53.3% in August. MarketWatch - Bulletin

By Jeffry Bartash WASHINGTON (MarketWatch ) - The Institute for Supply Management on Tuesday said its service-sector index rose to 53.3% in August from 52.7% in July. Economists surveyed by MarketWatch expected the services index to drop to 51.0%. While readings over 50% indicate more firms are expanding than contracting, the index is still sharply lower compared to its 2011 peak of 59.7% in February. In a positive sign, the new orders index rose 1.1 percentage points to 52.8% and the backlog of orders index climbed 3.5 percentage points to 47.5%. The employment index fell slightly, however, and the price index jumped 7.5 percentage points to a relatively high 64.2%. Ten of the 18 service sectors tracked by ISM reported growth. The U.S. service sector - fields such as health, finance and entertainment - accounts for three-fourths of all economic activity. It also employs about four of every five U.S. workers

H-P backing from tablet market; shares tank 14%: MarketWatch - Bulletin Aug. 19, 2011, 8:21 a.m. EDT

By Dawn Lim  NEW YORK (MarketWatch) -- Shares of Hewlett-Packard Co. HPQ -16.57% fell 15% in pre-market trading on Friday after the personal-computer maker cut its full-year sales outlook and said it was abandoning efforts to compete in the tablet and smartphone market on Thursday. Palo Alto, Calif.-based H-P also said its board is exploring a spinoff of its PC business. At least two brokerage firms downgraded the stock Friday. H-P stock has been down 30% this year.

Fannie Mae and Freddie Mac downgraded by S&P

BOSTON (MarketWatch) -- In connection with its downgrading of the U.S. government, ratings service Standard & Poor's early Monday likewise downgraded the senior issue ratings on Fannie Mae FNMA -12.20% and Freddie Mac FMCC -15.81% to 'AA+' from 'AAA'. S&P added it was maintaining its 'A' subordinated debt rating and 'C' rating on the preferred stock for the government-backed entities, and affirmed their short-term issue ratings at 'A-1+'. "The downgrades of Fannie Mae and Freddie Mac reflect their direct reliance on the U.S. government. Fannie Mae and Freddie Mac were placed into conservatorship in September 2008 and their ability t

Boeing quarterly profit jumps 20%: MarketWatch - Bulletin

By Christopher Hinton WASHINGTON (MarketWatch) -- Boeing Co. BA +2.72% said Wednesday its second-quarter profit rose 20% to $941 million, or $1.25 a share, from $787 million, or $1.06 a share, in the year-ago period. Revenue rose 6% to $16.54 billion from $15.57 billion. Analysts surveyed by FactSet Research were looking for earnings of 98 cents a share, on average, with sales of $16.47 billion. For the full year, the Chicago manufacturer raised its earnings outlook to between $3.90 and $4.10 a share, from a prior view of $3.80 to $4 a share. Wall Street predicted 2011 earnings of $4.12 a share. Shares of Boeing rose 2% premarket to $71.69 each.

MarketWatch - Bulletin: McDonald, Caterpilar and Verizon see sales jump.

Bulletin McDonald's says comp sales momentum continues in July; second-quarter profit tops forecast Caterpillar sees improved 2011 outlook as quarterly profit, sales jump; shares down 4% Verizon sees revenue growth accelerating; COO McAdam promoted to replace Seidenberg as CEO

Apple reports surge in third quarter earnings: MarketWatch - Bulletin

By Dan Gallagher SAN FRANCISCO (MarketWatch) - Apple Inc. reported a surge in third-fiscal quarter earnings on Tuesday afternoon, solidly beating Wall Street's estimates. For the quarter ended June 25, Apple AAPL -0.17% reported net income of $7.31 billion, or $7.79 per share, compared to net income of $3.25 billion, or $3.51 per share, for the same period the previous year. Revenue surged 82% to $28.6 billion for the quarter. Analysts had been expecting earnings of $5.80 per share on revenue of $24.9 billion, according to consensus forecasts from Thomson Reuters. For the quarter ending Sept. 30, Apple said it expects revenue of $25 billion and earnings per share of $5.50. Analysts were expecting revenue of $27.7 billion with earnings of $6.42 per share for the period.

Yahoo meets expectations with mixed results: MarketWatch - Bulletin

By John Letzing SAN FRANCISCO (MarketWatch) - Yahoo Inc. YHOO -1.99% said Tuesday its second-quarter net income rose to $237 million, or 18 cents a share, from $213 million, or 15 cents a share in the same period last year. The Sunnyvale, Calif.-based Internet media firm said net revenue for the period ended June 30 fell 5% to $1.1 billion. Analysts polled by FactSet Research had expected Yahoo to report second-quarter earnings of 18 cents a share, and $1.1 billion in net revenue.

U.S. stocks end higher for fourth straight session; Dow's up 153 points: MarketWatch - Bulletin

12,450 12,400 12,350 12,300 12,250 10a 11a 12p 1p 2p 3p Market closed 12,414.34 Change +152.92 +1.25% Volume 179.98m Jun 30, 2011, 4:30 p.m. Previous close 12,261.42 Day low Day high 12,262.10 12,427.09 Open: 12,262.25 52 week low 52 week high 9,614.32 12,876.00

MarketWatch - Bulletin: Dow Fiinishes Best Day Since Dec 1.

By Laura Mandaro SAN FRANCISCO (MarketWatch) -- A retreat in jobless claims and oil prices sent U.S. stocks sharply higher Thursday, resulting in the Dow Jones Industrial Average's /quotes/comstock/10w!i:dji/delayed ( DJIA 12,258 , +191.40 , +1.59% ) best performance in more than three months. The Dow gained 191.40 points, or 1.6%, to 12,258.20, with all but two of 30 components ending higher. It was the biggest point gain since Dec. 1. The S&P 500 /quotes/comstock/21z!i1:in\x ( SPX 1,331 , +22.53 , +1.72% ) gained 22.53 points, or 1.7%, to 1,330.97, with industrials and financials leading an advance in all 10 industry sectors. The Nasdaq Composite /quotes/comstock/10y!i:comp ( COMP 2,799 , +50.67 , +1.84% ) rallied 50.67 points, or 1.8%, to 2,798.74. Oil futures ended slightly lower, with the April contract closing just below $102 a barr

MarketWatch - Bulletin: European Central Bank holds rate at record-low 1%; market awaits Trichet news conference

By William L. Watts , MarketWatch  LONDON (MarketWatch) — The European Central Bank provided no surprises Thursday, leaving its key lending rate unchanged at a record low 1%. The main event remains ECB President Jean-Claude Trichet’s monthly news conference in Frankfurt, which gets under way at 8:30 a.m. Eastern and is expected to emphasize concerns about inflation pressures across the 17-nation euro zone. “We expect a hawkish ECB press conference, in the context of the ongoing increase in inflation expectations, particularly for consumers and financial markets,” wrote: for  full article click: