LIVE MARKET TRACKER :   BSE SENSEX   27975.86      |    NSE NIFTY 8492.30    
GLOBAL MARKETS :  NASDAQ 4944.19   +1.08%    |    FSI London 6891.43   +0.53%    |    NIKKEI Japan 19411.40   +0.65%
  USD GBP EUR CAD AUD INR
USD - 0.6744 0.9238 1.2692 1.3065 62.5150
GBP 1.4828 - 1.3702 1.8820 1.9378 92.7104
EUR 1.0825 0.7301 - 1.3738 1.4146 67.6719
CAD 0.7881 0.5316 0.7281 - 1.0298 49.2690
AUD 0.7654 0.5162 0.7072 0.9714 - 47.8527
INR 0.0160 0.0108 0.0148 0.0203 0.0209 -
Indian-Commodity  :  International & World Stock  :  US markets edge mostly up on hopes for resolution of fiscal cliff

US markets edge mostly up on hopes for resolution of fiscal cliff (06-Dec-2012)

The US markets were mostly up on Wednesday, amid optimism that lawmakers will reach a budget agreement before the end of the year to avoid automatic spending cuts and tax increases, but the Nasdaq Composite declined with fall in Apple Inc. A few dozen Republicans joined a bipartisan call to break the impasse between President Barack Obama and House Speaker John Boehner over taxes for the highest-earning Americans, signing a letter calling for exploration of all options. One of the petition signers, Representative Mike Simpson of Idaho, stated that he would be willing to go along with higher tax rates for married couples earning more $500,000 in exchange for reforming spending on entitlement programs like Medicare. Separately, Texas Representative Kay Granger, also a Republican, called extending tax cuts for middle-class earnings the right thing to do. In addition, President Barack Obama and House Republicans dug in on their fiscal-cliff positions, with Obama rejecting a nascent GOP plan to extend middle-class taxes and Republicans demanding that the president send a new proposal to Congress. The budget saga continued to play out in public on Capitol Hill. Boehner declared his willingness to meet with President Barack Obama at any time to resolve the fiscal cliff, or billions in spending cuts and tax hikes scheduled to begin in January.

The markets have appeared to ignore reports on the economy while waiting for resolution to the fiscal cliff. The Institute for Supply Management stated that the US services sector grew at a slightly faster pace in November, and the Commerce Department reported factory orders unexpectedly rose 0.8% in October. However, the US saw slower jobs growth in November as Hurricane Sandy hurt employment, particularly in the manufacturing sector, payrolls processing firm estimated. The ADP Research Institute estimated US companies added 118,000 people to their payrolls in November after a revised 157,000 gain the prior month. The market offered little reaction after the Labor Department reported nonfarm productivity rose 2.9% in the third quarter, its fastest pace in two years. The US businesses produced goods and services more efficiently in the third quarter than originally believed, mainly by boosting output while keeping labor costs down.

In Europe, the European Central Bank may refrain from cutting interest rates any further after its pledge to buy government bonds lowered borrowing costs and boosted confidence that the euro area can emerge from recession next year. Greece's credit grade was reduced to SD, or selective default, by Standard & Poor's from CCC after the government began buying its bonds back from investors, the rating agency stated. On the economy front, euro zone retail sales on a monthly comparison decreased 1.2% in October following a 0.6% drop in September. Separately, the euro zone private sector activity downturn continued in November, according to a survey released by Markit Economics. The Markit Eurozone PMI Composite Output Index rose to 46.5 in November from the 40-month low of 45.7 in October and above the earlier flash estimate of 45.8.

The Dow Jones Industrial Average gain 82.71 points, or 0.64 percent, to close at 13,034.50, the S&P 500 added 2.23 points, or 0.16 percent, to finish at 1,409.28, while the Nasdaq slid 22.99 points, or 0.77 percent, to end at 2,973.70.

Indian ADRs closed mostly in green on Wednesday, ICICI Bank was up by 1.35%, Sterlite Industries was up 0.35%, Tata Motors was up by 0.34% and HDFC Bank was up by 0.16%.  On the other hand, Infosys was down 0.54%.


Top News Today
Capital spending in India to take 12 more months to recover: S&P
(30-Mar-2015)

Capital spending in India to take 12 more months to recover: S&PThe global ratings agency Standard and Poor's (S&P) in its latest report has said that capital spending in India is likely to take 12 more months to start recovering as private companies have adopted......click on news to read complete article.

JSPL, Coal India and Fortis Healthcare to see some action today
(30-Mar-2015)

JSPL, Coal India and Fortis Healthcare to see some action todayThe Delhi High Court has ordered Coal India to be the interim custodian of the three coal blocks for which the government had rejected Jindal Steel and Balco's bids. Coal India will operate the mines and......click on news to read complete article.

Government to collect initial upfront payment of Rs 28,872 crore of spectrum auctions
(27-Mar-2015)

Government to collect initial upfront payment of Rs 28,872 crore of spectrum auctionsThe government after getting a go ahead from the Supreme Court declared the winners of the recently concluded airwaves auction. Now the government can collect initial upfront payment of Rs 28,872 crore......click on news to read complete article.

International Stock News
US markets snap four days losing streak
(28-Mar-2015)

US markets snap four days losing streakSnapping their four days losing streak, the US market closed higher on Friday due to a positive reaction to prepared remarks by Federal Reserve Chair Janet Yellen. In a speech at a San Francisco Fed conference,......click on news to read complete article.

US markets closed lower for fourth straight session
(27-Mar-2015)

US markets closed lower for fourth straight sessionThe US market closed lower on Thursday, declining for the fourth consecutive session, with the benchmark S&P 500 turning negative for the year and recording its longest losing streak since January.......click on news to read complete article.

US markets closed lower; S&P, Dow marks sharpest losses in two weeks
(26-Mar-2015)

US markets closed lower; S&P, Dow marks sharpest losses in two weeksThe US market closed lower on Tuesday, with Nasdaq Composite suffering its steepest decline since April 2014, as investors' dumped technology and biotech shares. The carnage on the Street marks the third......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.