Overnight Briefing: American Timezone

Nikkei rose in year−end buying

Fri, Mar 28 2008, 05:38 GMT
by Jyske Bank Team

Jyske Bank


  • U.S. stocks fell

  • Oil Higher

  • USD still the main topic in Fx-market

Today’s main events:

  • SEK: Retail sales

  • CHF: KOF

  • USD: Michigan confidence


American Time Zone:

U.S. stocks fell

U.S. stocks dropped for a second day as concern that profit growth will weaken at financial and technology companies overshadowed a bigger-than-forecast gain in consumer spending. Oracle Corp., the world's third-largest software company, or tumbled the most since November after revenue trailed analysts' estimates. Google Inc. slid after receiving fewer ad clicks last month. Lehman Brothers Holdings Inc. lost 9 % as options traders increased bearish bets on the biggest U.S. underwriter of mortgage bonds, while Bank of America Corp. and JPMorgan Chase & Co. fell on reduced earnings estimates for large banks.


USD regained some ground

The dollar rose against the euro after the biggest two-day decline since January 2001 as a government report showed fourth-quarter consumer spending increased more than previously estimated.


Oil higher

Crude oil rose after a pipeline explosion in southern Iraq cut supplies to the country's main export terminal.

Published on  Fri, Mar 28 2008, 05:58 GMT

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