LIVE MARKET TRACKER :   BSE SENSEX        |    NSE NIFTY    
GLOBAL MARKETS :  NASDAQ      |    FSI London      |    NIKKEI Japan  
  USD GBP EUR CAD AUD INR
USD -
GBP -
EUR -
CAD -
AUD -
INR -
Indian-Commodity  :  International & World Stock  :  US markets closed higher; posts sharp weekly gains

US markets closed higher; posts sharp weekly gains (16-Sep-2017)

The US markets closed higher on Friday, posting sharp weekly gains, with a big assist from rally in telecommunication and bank shares, as Wall Street shook off North Korea's latest missile launch. Stocks initially struggled for direction as investors weighed North Korea's decision to fire a missile over Japan for the second time in a month, but soon found firmer footing. The New York Federal Reserve reduced its estimate of US gross domestic product growth for the third quarter and fourth quarter to below 2 percent, based on unexpected falls in industrial output and retail sales in August. The regional central bank's 'Nowcast' model calculated the economy was expanding at an annualized pace of 1.34 percent in the third quarter, slower than 2.06 percent last week. Its GDP estimate for the fourth quarter was lowered to 1.82 percent from 2.62 percent a week earlier.

On the economy front, industrial production plunged in August mainly due to disruptions from Hurricane Harvey. Output sank 0.9% last month. It was the biggest decline since May 2009 when the economy was in recession. This is the first decline in production in seven months. Output in July was revised to a 0.4% gain from the prior estimate of a 0.2% increase. There were across-the-board declines in output in August. Output among manufacturers slipped 0.3%, while production at utilities sank 5.5%. Mining output fell 0.8%. Production of business equipment, consumer goods and construction also declined. Auto production was an outlier, rising 2.2% in August. This partly reversed a 4.2% drop in the prior month. Worries about the auto sector persist as production in the sector is now down 3.6% over the past year. Capacity utilization, meanwhile, sank to 76.1% in August from 76.9% in the prior month.

Meanwhile, US retail sales fell in August for the second time in three months, reflecting fewer car purchases and reluctance by Americans to spend on a variety of consumer goods such as clothes and electronics. Sales at retailers nationwide dropped 0.2% to mark the biggest decline in six months. Sales for July and June were also much weaker than originally reported. The slower pace of retail spending partly reflects the outsized importance on the US auto industry since it accounts for about one-fifth of all sales. In August, sales at auto dealers sank 1.6%. Separately, consumer sentiment fell slightly in September on concerns over the future, even as consumers assessed current conditions to be slightly better. The University of Michigan consumer-sentiment index fell to 95.3 from 96.8 in August.

The Dow Jones Industrial Average added 64.86 points or 0.29 percent to 22,268.34, the Nasdaq gained 19.39 points or 0.30 percent to 6,448.47 and the S&P 500 edged higher by 4.61 points or 0.18 percent to 2,500.23. 



Top News Today
Future Enterprises gets nod to raise funds up to Rs 1,500 crore
(26-May-2018)

Future Enterprises gets nod to raise funds up to Rs 1,500 croreFuture Enterprises has received its board's approval to raise funds by issue of Secured Redeemable Non-Convertible Debentures (NCDs) for a value up to Rs 1,500 crore in one or more tranches within a period......click on news to read complete article.

IFCI recovers Rs 280 crore from Bhushan Steel
(26-May-2018)

IFCI recovers Rs 280 crore from Bhushan SteelIFCI has recovered Rs 280 crore from debt-ridden Bhushan Steel under the insolvency process. The company also received over 5.79 lakh equity shares of Bhushan Steel, having face value of Rs 2 per share.IFCI......click on news to read complete article.

Sun Pharma reports 7% rise in Q4 consolidated net profit
(26-May-2018)

Sun Pharma reports 7% rise in Q4 consolidated net profitSun Pharmaceutical Industries has reported results for the fourth quarter and year ended March 31, 2018.The company has reported a rise of 83.30% in its net profit at Rs 176.26 crore for the quarter ended......click on news to read complete article.

International Stock News
US markets end mostly in red on Friday
(26-May-2018)

US markets end mostly in red on FridayThe US markets ended the choppy day of trade mostly in red terrain as some traders were away from their desks, looking to get a head start on the long Memorial Day weekend. Geopolitical uncertainty also......click on news to read complete article.

US markets end mostly in red on Friday
(26-May-2018)

US markets end mostly in red on FridayThe US markets ended the choppy day of trade mostly in red terrain as some traders were away from their desks, looking to get a head start on the long Memorial Day weekend. Geopolitical uncertainty also......click on news to read complete article.

US markets end lower on Thursday
(25-May-2018)

US markets end lower on ThursdayThe US markets ended in red terrain on Thursday, as geopolitical worries hovered over markets after Trump called off the summit that was set to take place June 12 in Singapore. The cancellation followed......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.