STOCKS NEWS US-Dec new home sales stronger than expected
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U.S. stock market report [.N] 1009 ET 26Jan2007-INSTANT VIEW-US Dec new-home sales stronger than expected ------------------------------------------------------------------------------
Sales of new U.S. homes rose 4.8 percent in December and prices climbed 1.2 percent as the number of homes on the market decreased, according to a government report on Friday showing some firming in the weakened housing sector.
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Reuters Messaging rm://jennifer.coogan.reuters.com@reuters.net 0940 ET 26Jan2007 -Market starts higher on durables, Caterpillar ------------------------------------------------------------------------------
U.S. stocks rebounded on Friday after a stronger-than-expected forecast
from Caterpillar Inc. (CAT.N) and data showing orders for durable goods above
Wall Street estimates.
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Reuters Messaging rm://jennifer.coogan.reuters.com@reuters.net 0924 ET 26Jan2007 -GLOBAL MARKETS-Dlr up, bonds fall on strong U.S. goods data ------------------------------------------------------------------------------
The dollar extended gains against the pressured yen on Friday, while European and U.S. government bonds fell after robust U.S. durable goods data further cemented views that the Federal Reserve would not rush to cut rates.
European stocks were little changed, continuing to head south on the back of weakness in Asia, while U.S. stock futures edged higher.
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Reuters Messaging rm://jennifer.coogan.reuters.com@reuters.net 0920 ET 26Jan2007 -US STOCKS-Futures edge up after durables, Caterpillar ------------------------------------------------------------------------------
U.S. stocks were set to rebound from steep losses and open slightly higher
on Friday after a stronger-than-expected forecast from heavy equipment maker
Caterpillar Inc. (CAT.N) and data showing orders for durable goods above
economists' expectations.
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Reuters Messaging rm://jennifer.coogan.reuters.com@reuters.net 0909 ET 26Jan2007 -INSTANT VIEW 2-US Dec durable goods stronger than expected ------------------------------------------------------------------------------
New orders for U.S.-made durable goods rose a larger-than-expected 3.1 percent in December as demand for aircraft and parts soared and most other sectors showed surprising strength, a government report showed on Friday. MICHAEL METZ, CHIEF INVESTMENT STRATEGIST, OPPENHEIMER & CO., NEW YORK:
"Ex-transportation up 2.3 percent is certainly a very good figure. The economy this year is extremely dependent on both exports and capital spending and this figure suggests that capital spending will grow at a significant rate this year so it's a definite positive. It's a negative for anyone who thinks we are going to have a short-term drop in rates. To me much more important for the market is the economic outlook. Even here rates are no barrier to economic growth.
"The Fed has to be reassured by all of this and the housing figures support the view of a soft landing in that sector. All this suggests there is no need for the Fed to do anything."
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Reuters Messaging rm://jennifer.coogan.reuters.com@reuters.net 0859 ET 26Jan2007-Indicative Dow points to flat open ---------------------------------------------------------------------------
The Indicative Dow Jones industrial average .DJII, which tracks the 30 blue chips as they are traded on the Deutsche Borse's electronic trading platform, XETRA, and translates the prices into dollars, pointed to a flat market open on Friday.
The DJII was down 0.01 percent, to 12,501.52 points, indicating the Dow may barely budge.
Reuters messaging rm://jennifer.coogan.reuters.com@reuters.net 0845 ET 26Jan2007 -Before the Bell - Caterpillar shares rise ------------------------------------------------------------------------------
Shares Caterpillar Inc. (CAT.N) rose 2.3 percent before the opening bell on
Friday after the company reported revenue results that beat expectations. For
details, see [ID:nWEN2929]
Shares were up at $61 in electronic trading after closing at $59.63 on the New York Stock Exchange.
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Reuters Messaging rm://jennifer.coogan.reuters.com@reuters.net 0815 ET 26Jan2007-Business Objects jumps on Oracle bid talk-traders -------------------------------------------------------------------------------
Shares in software group Business Objects BOBJ.PABOBJ.O rallied 4.9
percent on Friday as traders cited renewed speculation that its larger rival
Oracle Corp. (ORCL.O) could make a takeover bid.
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Reuters Messaging rm://caroline.valetkevitch.reuters.com@reuters.net 0654 EST 26Jan2007 - U.S. corporate results expected on Jan. 26 ------------------------------------------------------------------------------
Among the companies expected to report results on Friday:
AirTran Holdings, Inc. (AAI.N)
Caterpillar Inc. (CAT.N)
Fortune Brands (FO.N)
FPL Group (FPL.N)
Halliburton Company (HAL.N)
Honeywell (HON.N)
T. Rowe Price (TROW.O)
W.W. Grainger (GWW.N)
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Reuters Messaging emily.chasan.reuters.com@reuters.net 0653 EST 26Jan2007-U.S. economic diary for Jan. 26 ------------------------------------------------------------------------------
The following economic data are expected on Friday:
The Commerce Department releases December durable goods orders at 8:30 a.m. (1330 GMT). Economists in a Reuters survey expect a 2.5 percent rise in orders compared with a 1.6 percent increase in November.
The Commerce Department releases new home sales for December, at 10 a.m. (1500 GMT). Economists in a Reuters survey forecast a median total of 1.050 annualized units in December compared with a 1.047 million total in November.
The Economic Cycle Research Institute (ECRI) releases its weekly index of economic activity for Jan. 19 at 10:30 a.m. (1530 GMT). In the prior week, the index read 140.8.
The Commerce Department releases revisions to December building permits. Currently the December permits number is 1.596 million.
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