LIVE MARKET TRACKER :   BSE SENSEX   32584.35      |    NSE NIFTY 10210.85    
GLOBAL MARKETS :  NASDAQ 6632.1055   +0.1276%    |    FSI London 7542.87   +0.36%    |    NIKKEI Japan 21363.05   +0.13%
  USD GBP EUR CAD AUD INR
USD - 0.7576 0.8484 1.2478 1.2749 65.1090
GBP 1.3201 - 1.1197 1.6471 1.6826 85.7660
EUR 1.1791 0.8933 - 1.4712 1.5028 76.5908
CAD 0.8019 0.6077 0.6800 - 1.0220 52.0670
AUD 0.7846 0.5948 0.6656 0.9790 - 50.9800
INR 0.0154 0.0117 0.0131 0.0193 0.0197 -
Indian-Commodity  :  International & World Stock  :  US markets closed higher as Trump promises tax plan

US markets closed higher as Trump promises tax plan (16-Feb-2017)

The US markets closed higher on Wednesday, for the fifth session in a row, marking the longest record-setting streak for all three benchmarks since January 1992, as President Donald Trump promised a massive tax plan in the not-too-distant future. Trump's latest comments echo his pledge last week to deliver a phenomenal tax plan that would be revealed soon. Meanwhile, Federal Reserve Chairwoman Janet Yellen appeared to reinforce the market's optimism when she testified in front of the Senate Banking Committee that investors are expecting a more growth-supportive fiscal policy and a boost corporate earnings. On Tuesday, she had hinted that the central bank could resume a gradual raise interest rates as soon as to it is next to policy meeting in March. Higher rates have usually deflated the market's zest for stocks, which have benefited from the low-rate environment, but Yellen's upbeat assessment of the economy along with Trump's promises of business-friendly policies, tax cuts and deregulation of the banking sector, has bolstered investor confidence.

On the economy front, most US retailers posted strong sales in January, even beleaguered department stores, perhaps a sign that higher consumer confidence since the election has encouraged Americans to spend more for now. Retail sales rose 0.4% last month following a much bigger gain in December than originally reported. Every major retail sector reported higher sales except for auto dealers, whose business tends to tail off after the Christmas shopping season. Auto purchases account for about one-fifth of all retail spending. The Empire State index of manufacturing conditions in the New York area jumped to its highest level in more than two years in February. The index rose to 18.7 in February from 6.5 in January. That's well above forecasts of a reading of 7.5. The details of the report were also strong. The new orders index climbed to 13.5 in February from 3.1 in the prior month. Shipments rose to 18.2 from 7.3 in January. The unfilled orders index rose above zero for the first time in more than five years.

Meanwhile, the prices Americans pay for goods and services surged in January by the largest amount in four years, mostly reflecting a rebound in the cost of gasoline that's taking a bigger chunk out of household incomes. The consumer price index, or cost of living, rose by a seasonally adjusted 0.6% in January. The rising cost of gasoline is pinching US households and pushing inflation higher after several years of little price pressures, a trend that could also spawn higher interest rates in the near future. Over the past year the consumer price index has climbed 2.5%, the biggest increase in a 12-month span in five years.

The Dow Jones Industrial Average added 107.45 points or 0.52 percent to 20,611.86, the Nasdaq was up 36.87 points or 0.64 percent to 5,819.44, while S&P 500 gained 11.67 points or 0.50 percent to 2,349.25. 

The Indian ADRs closed mixed; HDFC Bank was up 0.18%, Dr. Reddy's Lab was up 0.14% and Wipro was up 0.06%. On the other hand, Tata Motors was down 1.02% and ICICI Bank was down 0.11%.


Top News Today
Suven Life Sciences secures product patent in Singapore
(18-Oct-2017)

Suven Life Sciences secures product patent in SingaporeSuven Life Sciences has secured one product patent from Singapore corresponding to the New Chemical Entities (NCEs) for the treatment of disorders associated with Neurodegenerative diseases and these Patents......click on news to read complete article.

Jubilant Life Sciences issues commercial papers worth Rs 50 crore
(18-Oct-2017)

Jubilant Life Sciences issues commercial papers worth Rs 50 croreJubilant Life Sciences has issued Commercial Papers (CPs) aggregating to Rs 50 crore on October 17, 2017. The company has issued two commercial papers of Rs 25 crore each providing an interest rate of......click on news to read complete article.

Peninsula Land receives Rs 200 crore from Godrej Skyline for Pune land
(18-Oct-2017)

Peninsula Land receives Rs 200 crore from Godrej Skyline for Pune landPeninsula Land has received Rs 200 crore out of the total consideration of Rs 226 crore from Godrej Skyline Developers for sale of property situated at Village Mamurdi, Taluka Haveli, District - Pune,......click on news to read complete article.

International Stock News
Asian markets trade mostly lower in early deals on Wednesday
(18-Oct-2017)

Asian markets trade mostly lower in early deals on WednesdayMost of the Asian equity benchmarks are trading lower in the early deals on Wednesday with investors trading cautiously as China's President Xi Jinping spoke at the beginning of the Communist Party's 19th......click on news to read complete article.

US markets closed mostly higher on round of positive earnings report
(18-Oct-2017)

US markets closed mostly higher on round of positive earnings reportThe US markets closed mostly higher on Tuesday, with both the Dow and the S&P 500 finishing at records as a round of positive earnings report from major companies boosted positive sentiment and......click on news to read complete article.

Asian markets trade mostly higher in early deals on Tuesday
(17-Oct-2017)

Asian markets trade mostly higher in early deals on TuesdayMost of the Asian equity benchmarks are trading in green in the early deals on Tuesday, with the fresh record highs on Wall Street and firm commodity prices boosting investors' sentiments. Comments by......click on news to read complete article.

 

     
  
Recent International & World Stock News
 
EquityInvestmentCompany ReportsIPO
Disclaimer
By clicking on this page you accept all the terms and conditions framed by us. News made available here are for informational purpose only. While utmost care has been taken in providing the same. We claim no responsibility for its accuracy. Readers of this blog who make their decision based on the information posted here are solely responsible for their actions.