US Markets Gain As Hopes For Greece Debt Rescue Brightens (08-Feb-2012)
The US markets rose on Monday, sending the Dow industrials to their highest close since 2008, as Greece's government made progress on measures to secure international aid. Also, a Labor Department report had job openings rising to 3.38 million in December from 3.12 million the month before, showing continued progress in the labor market. In Athens, government officials reportedly have a draft deal to present to Greek party leaders on Wednesday detailing another bailout. Greece's government and international creditors are working on the final draft of an agreement on budget and structural measures needed to free up a second aid package, a Greek official stated. Prime Minister Lucas Papademos plans to convene the nation's political leaders meet to seek consensus on the required measures, as unions called a strike to protest and European leaders pressed Greece to reach a deal.
Besides, in Washington, top US central banker Ben Bernanke reiterated his call on lawmakers to cut the nation's long-term red ink, and repeated that the labor market is a long ways from returning to good health. In testimony to the Senate Budget Committee, Bernanke stated that the Fed was not forecasting any sharp improvements in the unemployment rate.
The Dow Jones Industrial Average closed higher by 33.07 points, or 0.26 percent, at 12,878.20. The S&P 500 was up by 2.72 points, or 0.20 percent, at 1,347.05, while the Nasdaq closed up 2.09 points, or 0.07 percent, at 2,904.08.
Indian ADRs closed in red on Tuesday, Dr. Reddy's Lab was down by 0.79%, ICICI Bank was down by 0.62%, Tata Motors was down 0.51%, Infosys Technologies was down by 0.32% and HDFC Bank was down by 0.25%.
Top News Today
 Aditya Birla Group Company - Idea Cellular has slashed 3G tariffs by up to 70%. As per the revision, Idea prepaid and postpaid users have to pay 3 paise per 10 KB of data against earlier levels of 10 paise
 National Thermal Power Corporation (NTPC) will be signing the fuel supply agreements' (FSA) with Coal India for 4,300 megawatts on 2009 terms. In these FSAs companies have change trigger level, which has
 After cellular market leader Bharti Airtel launched its 4G services, now Reliance Industries is reportedly gearing up to launch the services soon and has accordingly partnered with Himachal Futuristic
|
International Stock News
 US markets made a mixed closing on Tuesday, just a day after a buoyant rally, as concerns about Greece's potential exit from the eurozone resurfaced in the final hour. Though, the markets remained in jubilant
 US markets got a good bounce back on Monday with all major indices gaining more than 1%, it was one of the best session of the month. There was some M&A activity along with report that Chinese government
 US markets declined further on Friday, making it the worst week for the markets in 2012, as the most awaited Facebook (FB) IPO was only able to muster a slight gain in its public debut, while the eurozone
|
|
Recent International Global Stock Market News News
|
|