US Markets Climb On Stimulus Hopes (16-Jun-2012)
The US markets rallied on Friday to make first back-to-back weekly gain in more than a month, on optimism for action by global central banks to stabilize markets if needed after Greek elections. The Fed meeting follows Greek elections on June 17 that may determine whether the country upholds austerity measures attached to international aid and remains in the euro bloc. However, US data illustrated slowing global growth, with the nation's industrial output weakening in May and with a gauge of manufacturing activity in the New York region slumping in June. Industrial production weakened in May as output of cars and other items slowed. The Federal Reserve stated that industrial production slipped a seasonally adjusted 0.1% in May after gaining 1% in April. April's reading was downwardly revised from an initially reported 1.1% expansion. The University of Michigan-Thomson Reuters consumer-sentiment index too fell to a preliminary June reading of 74.1 - it's lowest since December from 79.3 in May.
In Europe, investors are increasingly taking optimistic view that regulators and bankers are at least prepared to calm markets and central banks would act to bolster economies in the face of Greek elections and Europe's growth-draining debt crisis. Greek voters failed to conclusively back a new government on May 6 to lead them out of a debt crisis. That failure, which resulted in days of painstaking negotiations as the nation's main parties scrambled unsuccessfully to form a coalition government, setting the stage for the June 17 election. Mario Draghi, head of the European Central Bank, stated that central banks were ready to step in to provide liquidity if needed.
The Dow Jones industrial average gained 115.26 points, or 0.91 percent to end at 12,767.20. The Standard & Poor's 500 Index gained 13.74 points, or 1.03 percent, to 1,342.84, while the Nasdaq Composite Index was up 36.47 points, or 1.29 percent, to close at 2,872.80.
Top News Today
 With an aim to provide broad based incentive and attract larger foreign institutional investors (FIIs) participation in the debt market, the government has slashed the withholding tax from...
 ITC has overtaken Hindustan Unilever (HUL) in branded food and beverages sales, a decade after it entered the business, giving a shot in the arm to YC Deveshwar's ambition of making the cigarette...
 Reliance Infrastructure is in the process of pulling out of mega projects worth 20,000 crore due to inordinate delays by government agencies in fulfilling commitments relating to these projects....
|
International Stock News
 Asian markets ended mostly higher on Wednesday, on buyers spree amid renewed optimism about the global economy following recent encouraging data from across the globe, ahead of testimony...
 Buoyed by firm cues from US markets, Asian markets are trading jubilantly. Sentiments got a boost after two senior Federal Reserve officials dampened market speculation that the US central...
 The US markets rose on Tuesday, with the Dow industrials and S&P 500 finishing at record highs after comments from two Federal Reserve officials suggested that the central bank is...
|
|
Recent International Global Stock Market News News
|
|