Most Asian stocks fell, led by banks and material companies, amid mounting
concern budget deficits in Europe will derail the global economic recovery.
Macquarie Group, Australia's largest investment bank, slumped 6.2 per cent
after its second-half profit forecast disappointed some
The S&P 500 and Nasdaq edged higher overnight as several bellwethers rose
on brokerage upgrades and positive comments about the economy, but worries
about euro zone sovereign debt problems limited gains. Worries about Greece's
financial problems and other fiscally fragile euro zone
Asian stocks fluctuated as electronics makers fell on lower earnings, while
commodity companies climbed after oil and metal prices increased. Panasonic
fell 4.6 per cent in Tokyo after the electronics maker had a loss. Yamaha Motor
retreated 4.9 per cent after the motorcycle maker reported
Just as markets fret and worry about the health of the global economy , and
especially countries like Greece, Italy, Spain, the UK and Japan, along
comes an optimistic report on the state of the world from a premier
international talk shop Friday saw more volatility in markets and
The rebound in spending that gave US retailers a lift during the holiday season
probably carried over into the new year, signaling consumers may contribute
more to growth, economists said before reports this week. Sales climbed 0.3 per
cent in January, the third gain in four months,
Sales climbed 0.3 per cent in January, the third gain in four months, according
to the median forecast of 51 economists surveyed by Bloomberg News before
Commerce Department figures Feb. 11. Another report may show the trade gap fell
in December. A drop in unemployment last month, combined with
Gold futures fell to a three-month low in New York as the US dollar's rally
reduced demand for the precious metal as an alternative investment. The euro
fell to an eight-month low against the greenback on mounting budget concerns in
countries such as Greece, Spain and Portugal. Gold capped
The Nasdaq turned positive late in the session on Friday, while the Dow and the
S&P pared losses to nearly flat as investors snapped up technology and
materials stocks. The modest recovery came after stocks dropped more than 1 per
cent earlier in the day on weak US jobs data and
The unemployment rate in the US unexpectedly dropped to 9.7 per cent in
January, indicating the labor market may be poised to climb out of its deepest
slump since World War II. More than half a million Americans found work, a
Labor Department report showed today in Washington, helping
More than half a million Americans found work, a Labor Department report showed
today in Washington, helping push the jobless rate to the lowest since August.
A separate survey of employers showed payrolls declined by 20,000 as
construction companies and state and local governments cut
Most Asian stocks fell, led by banks and material companies, amid mounting
concern budget deficits in Europe will derail the global economic recovery.
Macquarie Group, Australia's largest investment bank, slumped 6.2 per cent
after its second-half profit forecast disappointed some
