LIVE MARKET TRACKER :   BSE SENSEX   27346.33      |    NSE NIFTY 8169.20    
GLOBAL MARKETS :  NASDAQ 4535.416   -0.30%    |    FSI London 6429.68   -0.37%    |    NIKKEI Japan 15658.2   +0.67%
  USD GBP EUR CAD AUD INR
USD - 0.6246 0.7927 1.1192 1.1348 61.455
GBP 1.6013 - 1.2693 1.7922 1.8172 98.4097
EUR 1.2617 0.788 - 1.4121 1.4318 77.5402
CAD 0.8939 0.5583 0.7086 - 1.0144 54.9343
AUD 0.8818 0.5507 0.699 0.9869 - 54.191
INR 0.0163 0.0102 0.0129 0.0182 0.0185 -
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
IL&FS Engineering, Kridhan Infra and GMDC to see some action today
(30-Oct-2014)

IL&FS Engineering, Kridhan Infra and GMDC to see some action todayIL&FS Engineering and Construction Company has won contracts from WBSEDCL (West Bengal State Electricity Distribution Company) for construction of Rural Electrification Infrastructure, Erection......click on news to read complete article.

Moody's retain negative outlook on Indian banks on high corporate leverage
(30-Oct-2014)

MoodyIn yet another worrying development for banking sector, international rating agency, Moody's while retaining its negative outlook for the Indian banking sector, has underscored that high leverage in the......click on news to read complete article.

RIL, Lupin and NMDC to see some action today
(22-Oct-2014)

RIL, Lupin and NMDC to see some action todayReliance Industries' (RIL) telecom arm - Reliance Jio Infocomm is merging its two subsidiaries, Infotel Telecom and Rancore Technologies, with itself. The move is aimed at bringing all its telecom related......click on news to read complete article.

International Stock News
US markets closed lower after Fed ends QE
(30-Oct-2014)

US markets closed lower after Fed ends QEThe US markets closed lower on Wednesday, with Dow Jones Industrial Average snapping a four-day winning streak, after the Federal Reserve made official its plans to end the last round of its recession-era......click on news to read complete article.

US markets climb higher ahead of FOMC meet
(29-Oct-2014)

US markets climb higher ahead of FOMC meetThe US markets rallied on Wednesday, ahead of the Federal Reserve's two-day policy meeting. Federal Reserve officials are widely expected to announce the end to the 2008-era bond-buying stimulus program,......click on news to read complete article.

US markets closed mostly flat; S&P ends in red
(28-Oct-2014)

US markets closed mostly flat; S&P ends in redThe US markets closed mostly flat on Monday, with index rallying the most last week since January 2013. Stocks have historically started to climb before GDP, anticipating economic expansions by an average......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.