Even as the US commemorates colonial America’s rejection of imperial British rule, there’s nothing much to cheer about around the world as far as markets are concerned.
The outlook is a weak start and it’s unlikely that some fresh triggers could emerge during the day to give a push to stocks. Value buying in certain counters will take place but investors will continue to remain on guard tracking global developments closely.
Now there’s turmoil in Portugal and fears are this could again raise issues regarding Europe's debt crisis which appeared to be buried for some time.
Yields on Portugal’s 10-year government bonds rose above 7% and even hit 8% intra-day. The fear is any back-stepping by Portugal could result in others like Greece and Cyprus seeking concessions from lenders. On Monday, Eurozone finance ministers will review a progress report on Greece.
Violent clashes in Egypt continue bringing with it rising oil prices.
Better-than-estimated U.S. jobs data brought hopes that US economy is recovering.
Japan's Nikkei 225 index is down marginally while Hong Kong's Hang Seng index was up over a percent. South Korea's Kospi index is flat while China's Shanghai index is lower.
The Dow Jones the S&P 500 and the Nasdaq closed the day between 0.1 % and 0.3%.
US markets will be closed today in observance of Independence Day.
The European Central Bank meeting will also be eyed.
US oil prices rose as high as $102.18, the highest they've been in over a year, before settling at $101.24 a barrel, 1.7% higher.
Standard & Poor's downgraded three European banks citing worries over the size of their investment banking portfolios and the impact of new regulations.
The Indian government garnered Rs. 260 crore from stake sale in Hindustan Copper which got subscribed 1.14 times.
Finance Minister P. Chidambaram has advised public sector banks to cut base lending rates asking banks to focus on the top 30 loan defaulters.
The rupee will remain in focus after it fell 55 paise to close at 60.22 over Tuesday’s closing of 59.66.
Private payrolls increased by 188,000 last month, the ADP National Employment Report stated. The US Labor Department said initial claims for state unemployment benefits slipped 5,000 to a seasonally adjusted 343,000.
Growth in services, the largest sector of the Indian economy, fell in June compared to the previous month, according to the HSBC purchasing managers’ index (PMI). The index declined to 51.7 points in June from a three-month high of 53.6 points in May, indicating that economic recovery is not that certain
A day after the Prime Minister’s Office issued a clarification on the Jet-Etihad deal, Jet Airways supremo,
Naresh Goyal, met with Finance Minister P. Chidambaram.
The Government took the ordinance route to implement its ambitious Food Security Bill, after efforts to have a debate in Parliament failed. The Food Security Bill aims to give legal rights to 67 per cent of the population over a uniform quantity of 5 kg foodgrains a month at Rs 1-3 a kg.
The RBI Governor and deputy governors will attend RBI Central Board meeting this morning after which a media address I scheduled.
The outlook is a weak start and it’s unlikely that some fresh triggers could emerge during the day to give a push to stocks. Value buying in certain counters will take place but investors will continue to remain on guard tracking global developments closely.Now there’s turmoil in Portugal and fears are this could again raise issues regarding Europe's debt crisis which appeared to be buried for some time.
Yields on Portugal’s 10-year government bonds rose above 7% and even hit 8% intra-day. The fear is any back-stepping by Portugal could result in others like Greece and Cyprus seeking concessions from lenders. On Monday, Eurozone finance ministers will review a progress report on Greece.
Violent clashes in Egypt continue bringing with it rising oil prices.
Better-than-estimated U.S. jobs data brought hopes that US economy is recovering.
Japan's Nikkei 225 index is down marginally while Hong Kong's Hang Seng index was up over a percent. South Korea's Kospi index is flat while China's Shanghai index is lower.
The Dow Jones the S&P 500 and the Nasdaq closed the day between 0.1 % and 0.3%.
US markets will be closed today in observance of Independence Day.
The European Central Bank meeting will also be eyed.
US oil prices rose as high as $102.18, the highest they've been in over a year, before settling at $101.24 a barrel, 1.7% higher.
Standard & Poor's downgraded three European banks citing worries over the size of their investment banking portfolios and the impact of new regulations.
The Indian government garnered Rs. 260 crore from stake sale in Hindustan Copper which got subscribed 1.14 times.
Finance Minister P. Chidambaram has advised public sector banks to cut base lending rates asking banks to focus on the top 30 loan defaulters.
The rupee will remain in focus after it fell 55 paise to close at 60.22 over Tuesday’s closing of 59.66.
Private payrolls increased by 188,000 last month, the ADP National Employment Report stated. The US Labor Department said initial claims for state unemployment benefits slipped 5,000 to a seasonally adjusted 343,000.
Growth in services, the largest sector of the Indian economy, fell in June compared to the previous month, according to the HSBC purchasing managers’ index (PMI). The index declined to 51.7 points in June from a three-month high of 53.6 points in May, indicating that economic recovery is not that certain
A day after the Prime Minister’s Office issued a clarification on the Jet-Etihad deal, Jet Airways supremo,
Naresh Goyal, met with Finance Minister P. Chidambaram.
The Government took the ordinance route to implement its ambitious Food Security Bill, after efforts to have a debate in Parliament failed. The Food Security Bill aims to give legal rights to 67 per cent of the population over a uniform quantity of 5 kg foodgrains a month at Rs 1-3 a kg.
The RBI Governor and deputy governors will attend RBI Central Board meeting this morning after which a media address I scheduled.
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