Market briefing---Lane (medium)
Nasdaq---Anthony (slow)
Japanese market---Gene (slow)
>> welcome back to “world financial report”. i’m lane bajardi in new york. recapping the day on wall street dow jones industrial average ending with a lower session, down by 8/10 percent, 79 points at 9,153. the s&p 500 down 10 points or 1% to 980. the nasdaq composite pulling back over 1%, 19.5 points to 1,715. look at the nasdaq’s most actives. wave systems corp up 1.42, big mover there percentage-wise. cisco and intel also active. on the big board the most actives included dynegy, j.p. morgan chase and pfizer all moving lower. checking the performance of the major indexes for the week, the dow was down 1.4%. the s&p 500 losing rl 2%. nasdaq lower by 8/10 percent. so that’s where all the equities stood for the week. treasuries were mixed on friday but fell for the week and finished their most dismall month since 1980. they fell 4.39% in july. check out the 10 and five-year notes. 10-year note, up 6/32, five-year note down 1/32, 3.23%. shorter end not moving much, both down 2/32. the dollar gained for a third week in four against the euro/dollar in new york, though the u.s. currency fell friday on the economic data against all major currencies. the nasdaq finished the day down a bit over 1%. and with a look at how tech stocks finished the first day of august, we bring in anthony massucci at the nasdaq market site.
>> not only was the nasdaq down for the day, it was down for the week as we head into august, keep in mind according to investors, the nasdaq certainly is up 36% still since the march lows. but the rally really has been all about the recovery in the second half as jeff swenson of john hancock advisors point out. he said investors are wondering if this rally is sustainable, and with that impressive move over the last six months it wouldn’t be a shock to see the market trade sideways for a while. that is what we saw in the markets today. the chip stocks―let me show you a few names, broadcom, altera, those names up, xilinx and kla-tencor. the chip stocks actually closing up a little more than 1% as a group. intel which was down much of the day rallied at the end of the day to close higher. some traders would say if the chip stocks are moving higher the nasdaq will follow. we’ll see next week. but let me show you some other stocks that are going down today. ebay, amazon. those stocks down. they had been really the leaders while that nasdaq was rallying. but ebay since last week, since it had reported earnings, down from 118, closing close to 105 today. amazon losing steam, closing lower. software stocks lower, not as much as we saw the internet stocks fall. but microsoft and oracle did close the day down. and networking stocks like cisco also closed the day down. now, looking ahead to next week, cisco has earnings on tuesday. so certainly that has the ability to move the markets. hardware stocks up just a bit. let me give you one name. research in motion hitting a 52-week high. shares are up as investors are really betting on a possible takeover of this company according to bloomberg news. that’s what we are reporting. hardware up a bit. semiconductors up. nasdaq down. back to you.
>> anthony massucci at the nasdaq. stocks finished the week higher in tokyo, and it was the first day of gains in four. bloomberg’s gene otani has a preview of what’s in store for investors across the pacific rim% -pin the week ahead.
>> japan’s toyota motor reports fiscal first quarter earnings on tuesday, the world’s fourth largest automaker by sales may say profit fell as much as 44%, hurt by a stronger yen. analysts surveyed by bloomberg expect net income to be as much as $225 billion yen, about $1.8 billion u.s. japanese game maker nintendo announces on tuesday the maker of gamecube video console reports first quarter earnings. analysts say the company may provide shipment numbers. that may indicate whether the game maker is losing market share to microsoft’s xbox. n.t.t. docomo releases its earnings on thursday temperatures company’s is the world’s second largest mobile phone company after vodafone group. docomo added fewer subscribers in june, than smaller rival kddi as it delays the rollout of new models. on wednesday hong kong cathay pacific airways may report a loss. they will post a loss of 1.4 billion hong kong delarks almost $186 million u.s. asia’s sixth largest carrier by sales slashed almost half of its flights because of a plunge in travel demand caused by the sars epidemic. the japanese government will sell 1.9 trillion yen and 10-year bonds on tuesday, the previous sale of 10-year bonds on july 3 drew bids worth 1.6 times the amount of debt sold by competitive auction. that’s the lowest since september when the auction drew fewer bidders than the auctioned amount. the first failure in 10 years of an auction. in australia, the central bank will probably keep its benchmark interest rate on hold on wednesday. analysts say evidence is mounting the economy is growing again after a short slowdown. that’s a look at the week ahead here in the asia pacific region. back to you.
>> gene otani in tokyo. a.d.r.’s of electrical engineering firm a.b.b. rose as much as 13% friday after a new jersey judge approved the swiss company’s 1.3 billion settlement of 130 asbestos related lawsuits in the u.s. the decision cleers the way for a.b.b. to push ahead with the planned sale of the oil, gas and petrochemicals business. opponents of the ruling have the right to appeal.
