*Pro Farmer sees bigger U.S. corn crop than USDA. CHICAGO, Aug 22- Nearby U.S. soybean futures climbed to a one-week high on Friday as U.S. processors scrambled to find scarce old-crop supplies, with the start of the next harvest still at least a month away in the Midwest.» Read More
For the week ending Friday, August 22, 2008, the U.S. major Indices fell for the week on the unknown future of mortgage giants Freddie Mac and Fannie Mae, downbeat home construction July data, and soaring producer prices. The NASDAQ Composite performed the worst for the week, declining 1.54%, its steepest decline since Independence Day week. However, Friday was a positive day for the markets helped by a welcome speech by Federal Reserve Chairman Ben Bernanke and a pull back in the price of crude. The Dow had three days of triple-digit point gains & losses, netting to finish almost flat for the week.
A summer stock rally has ended with a thud as investors—once optimistic that the worst was finally over—are now fretting that the worst is yet to come.
Bill Browder, CEO of Hermitage Capital told "Squawk Box Europe" viewers to stay off the financial grid to preserver their capital.
Falling crops prices have dogged shares of potash producers in recent weeks, but the sell-off in these crop nutrient makers appears overdone and their shares look poised for a rebound.
For the week ending Friday, August 15, 2008, U.S. major Indices finished mixed, after the markets digested negative results including a surge in CPI, a decline in retail sales, and continued expansion in unemployment claims. The Nasdaq Composite prevailed amongst the major U.S. indices, as it edged up 1.59% for the week, marking its fifth week of gains. Nasdaq gains were led by bullish comments on Amazon (AMZN) which gained 7.3% for the week. The likelihood of the eurozone moving toward recession allowed for a stronger dollar against the euro, continued pressure on oil, and a positive impact on U.S. stocks as a potential safe haven.
Time for Fast & Furious -- you know the drill!
Agriculture trade is plunging amid the commodity selloff. Shares of fertilizer firms are down more than 20% from record highs in June. Deere shares are down a quarter this year ahead of earnings Wednesday. Is this pain in the agricultural sector short- or long-term?
For the week ending Friday, August 8, 2008, the U.S. markets ended the week on a positive note, cheered by a retreat in commodity prices, a Fed’s decision to keep rates steady at 2%, better-than-expected results in pending home sales, and a stronger dollar.
California continues to drown in red ink. This year's budget shortfall is $15 billion, and Governor Schwarzenegger has vowed to reduce the wages of 200,000 state employees to the federal minimum of $6.55 an hour until a budget agreement is reached.
For the week ending Friday, August 1, 2008, the markets finished relatively flat after a turbulent week that saw 4 straight days of triple-digit moves on the Dow. An early rally was dampened by weak economic data including weaker-than-expected GDP numbers and a rise in the unemployment rate.
For the week ending Friday, July 25, 2008, the markets closed mixed for the week, on negative housing data, and mixed earnings results. An early rally in financial and airlines stocks, supported by the continued slide in oil prices, was quickly wiped away by ongoing uncertainty in the economy. The Dow dropped more than 280 points on Thursday, marking the worst one day point drop in over a month. However, Friday saw a slight rebound on strong durable goods and a bounce back in consumer sentiment. Only the Nasdaq finished slightly up 1.2% for the week. The Dow and S&P finished down 1.09% and 0.23%, respectively.
Swiss agrochemicals company Syngenta posted a better-than-expected 25 percent rise in first-half net profit and raised its guidance for 2008 and 2009, citing buoyant agricultural markets and good prospects for the southern hemisphere planting season.
Chemical maker DuPont Tuesday posted higher-than-expected quarterly earnings as strong demand for its corn and soybean seeds offset weakness in the domestic housing and automotive markets.
For the week ending Friday, July 18, 2008, the U.S. markets saw extreme volatility yet settled higher on better-than-expected earnings results, a pullback in crude oil, and an indication that the Fed will hold interest rates steady. Nonetheless, the Dow had its best week since April 18 and its best 3-day percent gain since March 2003 even after closing below 11,000 for the first time since July 2006.
For the week ending Friday, July 11, 2008, the U.S. markets finished in bear market territory with the Dow dipping below 11,000 during intraday for the first time in 2 years.
In a time of rising food prices, investors should have agricultural stocks in their portfolios, Victor Badin, fund manager at Global Cap, said.
Shares of leading mobile handset maker Nokia have fallen nearly 40 percent so far this year, producing a great buying opportunity for a still-growing tech company.
For the short Independence week ending Friday, July 3, 2008, the U.S. Markets ended the week in bear market territory with the Dow and the NASDAQ off more than 20% from their market peak set in October, 2007.
As economies around the world struggle, it's best to stay in defensive areas like health care, according to Markus Ratz, fund manager at Lupus Alpha.
With soft commodity prices at record highs, is it time to invest in the sector?