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 mostly lower; Nasdaq ekes out modest gains

US markets closed mostly lower; Nasdaq ekes out modest gains (20-Apr-2017)

The US markets closed mostly lower on Wednesday, as a drop in oil prices fueled a selloff in energy shares, while a drop in International Business Machines Corporation (IBM) was responsible for half the session's losses in the blue-chip average. The Federal Reserve's so-called Beige Book found a larger number of firms mentioned high turnover rates and more difficulty retaining workers.  Tight labor markets are broadening out wage gains but price pressures remain modest. A couple of districts said that worker shortages and increased labor costs were restraining growth in manufacturing, transportation and construction. Despite these pressures, overall inflation was modest. Selling prices rose only slightly. The Beige Book, a collection of anecdotes gathered before the central bank makes an interest rate decision, said the 12 districts were equally split between modest and moderate growth. The Fed has picked up the pace of rate hikes since last December, saying the economy is on solid footing and inflation is rising toward the central bank's 2% annual rate target. Fed Chairwoman Janet Yellen said the Fed can afford to tighten gradually as there is no evidence of a sharp upward move in price pressure. Information from contacts collected before April 10 suggested somewhat softer readings in non-auto consumer spending and an expansion in the manufacturing sector. Home building accelerated and energy-related businesses reported improved conditions. Uncertainty about tax-and-spending policies was one factor mentioned in several districts as a restraint on activity.

Meanwhile, Boston Fed President Eric Rosengren said that the Federal Reserve should start shrinking its balance sheet relatively soon but do it so slowly that it doesn't disturb the central bank's plans to continue to gradually raise short-term interest rates. Rosengren suggested the Fed should initially retire a small percentage of maturing securities and then very gradually shrink the volume of the securities being reinvested. In this way, the tightening of short-term interest rates should not need to be much different than it would in the absence of shrinking the balance sheet. Rosengren does not want changes in the balance sheet to substitute for rate hikes.

The Dow Jones Industrial Average lost 118.79 points or 0.58 percent to 20,404.49, S&P 500 ended lower by 4.02 points or 0.17 percent to 2,338.17, while the Nasdaq added 13.56 points or 0.23 percent to 5,863.03.

The Indian ADRs closed mostly in red; Tata Motors was down 1.08%, Dr Reddy's was down 1.07% and Infosys was down by 0.11%. On the other hand, HDFC Bank was up by 0.16% and Wipro was up by 0.03%.



Top News Today
M&M's arm inks MoU with MACP
(19-Feb-2018)

M&MMahindra & Mahindra's (M&M) wholly owned subsidiary - Mahindra Agri Solutions has inked a Memorandum of Understanding (MoU) with Maharashtra Agriculture Competitiveness Project (MACP),......click on news to read complete article.

Shree Cement commissions new Cement Grinding Unit at Bihar
(19-Feb-2018)

Shree Cement commissions new Cement Grinding Unit at BiharShree Cement has commissioned new Cement Grinding Unit namely 'New Bihar Cement Plant'. The unit with capacity of 2 MTPA is located at Aurangabad in the state of Bihar.The company had recently commissioned......click on news to read complete article.

Premier Explosives receives Management System Certificate from DNV
(19-Feb-2018)

Premier Explosives receives Management System Certificate from DNVPremier Explosives has received the Management System Certificate from DNV GL Business Assurance (DNV), USA after the company has been found to conform to the Quality Management System Standard ISO 9001:2015......click on news to read complete article.

International Stock News
Asian markets trade higher in early deals on Monday
(19-Feb-2018)

Asian markets trade higher in early deals on MondayAsian equity benchmarks are trading higher in early deals on Monday, joining a global recovery for equity markets as sentiments improved gradually from a recent shakeout that stemmed from fears of creeping......click on news to read complete article.

Asian markets trade higher in early deals on Monday
(19-Feb-2018)

Asian markets trade higher in early deals on MondayAsian equity benchmarks are trading higher in early deals on Monday, joining a global recovery for equity markets as sentiments improved gradually from a recent shakeout that stemmed from fears of creeping......click on news to read complete article.

US markets end mixed on Friday
(17-Feb-2018)

US markets end mixed on FridayThe U.S. equity markets paring most of their early gains ended mixed on Friday after Special Counsel Robert Mueller's office revealed that a federal grand jury has indicted several Russian nationals for......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.