European Markets Fall, Led By Commodities, Techs - European Commentary []

European Markets Fall, Led By Commodities, Techs - European Commentary []
The European markets fell on Tuesday, as mining and technology stocks declined on concern about a slowdown in the U.S. economy and heavily weighted energy stocks slipped on falling crude oil prices.

Markets Likely To Edge Higher - European Commentary []
The major European index futures are pointing towards a higher opening for the markets on Friday. There is no lead from Wall Street as it was closed on account of Thanksgiving holiday on Thursday. The major markets across the Asia-Pacific region are a mixed pack on Friday.

Stocks Fall On Credit Concerns - U.S. Commentary []
Stocks have moved modestly to the downside on Monday, as negative news out of several financial institutions reinvigorates fears concerning the credit markets.

11/21/2007 12:28:42 PM While selling pressure has waned from earlier in the session, the U.S. stock markets continue to see significant weakness in early afternoon trading. Stocks have moved off their worst levels of the day but remain mostly negative. Lingering concerns about the outlook for the U.S. economy continue to contribute to the weakness in the markets, with some traders also worried about the potential economic impact of record high energy prices. At their lows for the session, the major averages were at their worst intraday levels in months, which inspired some traders to go bargain hunting. Nonetheless, buying interest has remained subdued, limiting the effectiveness of the recovery attempt. Trading activity is likely to remain relatively light throughout the remained of the trading session, as many traders are likely to look to get a head start on the Thanksgiving Day holiday. The lower volume could lead to increased volatility. The major averages have moved roughly sideways in recent trading, stuck firmly in negative territory. The Dow is currently down 142.01 at 12,868.13, the Nasdaq is down 35.54 at 2,561.27 and the S&P 500 is down 17.71 at 1,421.99. Sector News Housing stocks continue to see substantial weakness in early afternoon trading, resulting in a 3.4 percent loss by the Philadelphia Housing Sector Index. The loss extends a recent downward move by the index, which has fallen to a four-year intraday low. The continued weakness in the sector reflects the concerns about the outlook for the U.S. economy, with a report from the Mortgage Bankers Association showing a 3.6 percent drop in mortgage applications in the week ended November 16 also contributing to the weakness. The concerns about the strength of the economy are also contributing to considerable weakness in the steel sector, as slower economic growth would likely reduce steel demand. The Amex Steel Index is currently down 3.4 percent after hitting a two-month intraday low. Significant weakness also remains visible in the wireless sector, as reflected by the 3.2 percent loss currently being shown by the Amex Wireless Index. Ericsson (ERIC) continues to turn in one of the sector's worst performances. A variety of sectors also continue to see notable weakness, although many of the major sector indices have moved well off their worst levels of the day. Some brokerage, gold, and semiconductor stocks are posting steep losses. On the other hand, the airline sector has staged a substantial turnaround over the course of the trading session, with the Amex Airline Index currently posting a modest gain after falling as much as 4.3 percent earlier in the session. The turnaround by airline stocks comes as the price of oil has turned lower after reaching a record high earlier in the session. After reaching a high of $99.29 a barrel, crude for January delivery is currently down $1.13 at $69.90 a barrel. The decrease currently being shown by the price of oil comes even though a report from the Energy Department showed an unexpected drop in crude oil inventories. The report also showed a steep drop in stockpiles of distillate fuels, which include heating oil. Stocks In The News Among individual stocks, shares of Hot Topic (HOTT) are seeing significant weakness in early afternoon trading, with the teen apparel retailer currently down 5.5 percent after hitting its worst intraday level in almost seven years. The loss by Hot Topic comes after the company reported third quarter earnings that fell year-over-year, although they came in line with analyst estimates. Looking ahead, the company reaffirmed its fourth quarter earnings estimate. Shares of Hibbett Sports (HIBB) have also come under pressure after the sporting goods retailer reported lower third quarter earnings and forecast fourth quarter earnings towards the low end of analyst estimates. Hibbett is currently down 5.8 percent after setting a two-year intraday low. On the other hand, shares of Pacific Sunwear (PSUN) have turned higher over the course of the session after the apparel retailer reported adjusted third quarter earnings that beat analyst estimates. After moving lower in early trading, Pacific Sunwear is currently up 5.7 percent. Other Markets Asian stocks saw substantial weakness during trading on Wednesday, as traders worried that a slowdown in the U.S. economy could negatively impact exporters in the region. Japan's Nikkei 225 Index showed a steep decline, ending the session at its worst closing level in over a year. Concerns about the strength of the U.S. economy also contributed to weakness among European stocks, which more than offset the gains that were posted in the previous session. After ending Tuesday's trading up 1.7 percent, the U.K.'s FTSE 100 Index closed down 2.5 percent. Meanwhile, treasuries have benefited from the weakness in the stock markets, as traders move their money out of stocks and into bonds. The treasury yields have subsequently moved sharply lower, with the benchmark 10-year treasury yield currently down 4.5 basis points at 4.009 percent.
Credit Concerns Weigh On The Markets - U.S. Commentary []

11/21/2007 11:28:53 AM After seeing some volatility in the previous session, stocks have moved sharply lower over the course of morning trading on Wednesday. The major averages have all moved firmly into negative territory after ending Tuesday's trading modestly higher. The downward move reflects broad based weakness, with considerable weakness visible in the steel, wireless, and airline sectors. Concerns about the outlook for the economy and the impact of record high oil prices are contributing to the weakness in the markets. It is worth noting, however, that the downward move may be somewhat exaggerated, as many traders are away from their desks, looking to get a head start on the Thanksgiving Day holiday. In recent trading, the major averages have moved well off their lows for the session, but they currently continue to post steep losses. The Dow is currently down 140.06 at 12,870.08, the Nasdaq is down 40.11 at 2,556.70 and the S&P 500 is down 18.83 at 1,420.87.
Stocks Regain Some Ground But Show Continued Weakness - U.S. Commentary []

Stocks Down On Freddie Mac's Weakness - U.S. Commentary []
After opening Tuesday's session with notable gains, stocks have moved to the downside in afternoon trading, largely on poor quarterly results out of Freddie Mac (FRE).

Malaysian Stocks Poised For Gain []
After finishing Tuesday's action essentially flat if slightly to the upside, global cues now point to Malaysia's Kuala Lumpur Composite Index to press firmly into positive territory when the market opens Wednesday.

Wall Street Looks To Rebound Tuesday Morning Ahead Of Consumer Confidence Report - US Commentary []
US stocks were set to bounce back from a sell-off in the previous session Tuesday morning as traders geared up for a report on consumer confidence at 10 am ET.

Stocks Fall Off Intraday Highs - U.S. Commentary []
Stocks have pulled back off of their intraday highs in afternoon trading on Tuesday but continue to post substantial gains due to a large foreign investment in America's battered financial markets.