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Market Update : 
Ebay and Apple Surge
Author: 123jump.com Staff
123jump.com
Last Update: 12:28 AM EDT October 19 2006


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Mixed economic reports helped market averages to climb higher. CPI fell 0.5% but core CPI rose o.2% in September. Housing starts rose 5.9% but building permits fell 6.3% in the Sept month. JP Morgan reported Q3 earnings of 92 cents beating the estimates of 86 cents. Motorola reported earnings of 32 cents, peny lower than expected and stock fell 5%. Yahoo failed to excite investors and dropped 5% on earnings. Oil dropped below $58 per barrel.

 
Oil prices moved higher on Wednesday ahead of the release of weekly U.S. petroleum supply data expected to show a decline in distillate stocks. Light, sweet crude oil for November delivery rose 23 cents to $59.16 a barrel in on the NYME. December Brent crude oil on London ICE Futures exchange rose 33 cents to $61.27 a barrel.

Gold traded in London at $595.25 a troy ounce, up from $587.20 late Tuesday.

Currencies

The U.S. dollar was mixed against other major currencies in European trading on Wednesday morning. The euro was quoted at $1.2538, down from $1.2546 late Tuesday in New York. The British pound was quoted at $1.8699, down from $1.8704. The dollar bought 118.69 Japanese yen, down from 118.89.
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