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Market Update

U.S. Stocks Decline as Greek Aid, Fiscal Cliff Talks Drag

Nichole Harper
26 Nov, 2012
New York City

Stocks in New York traded lower after White House economists warned the impact of sudden one-time tax increase on middle-income tax payers. Retailers were in focus after the strong start of holiday retail sales. SEC Chairman Mary Schapiro decided to step down from December 14.

White House Economists Warn Tax Implications, Shoppers Swarm Retail Stores

Nichole Harper
26 Nov, 2012
New York City

Stocks in New York traded lower after economists warned that a sudden increase in taxes next year could reduce consumer spending by $200 billion. Retailers reported surge in holiday shoppers as discounts and early hours drove consumers to stores.

Nikkei at 7-Month High as Yen Trades Near 8-Month Low

Nigel Thomas
26 Nov, 2012
New York City

Stocks in Tokyo closed higher and the yen traded near 8-month low on the rising speculation that the central bank may be forced to take additional measures to stimulate the economy and weaken the yen. Fitch lowered credit rating of Panasonic and Sony to junk level.

Queensland Outlook Lowered, Australian to Spend $16 B in Holiday Shopping

Marcus Jacob
26 Nov, 2012
New York City

Australian benchmark index closed higher and the dollar edged up. Australians are expected to spend $16 billion during the holiday season. Moody

European Markets Slide as Ministers Discuss Greece, Barclays Down 4%

Barry Randall
26 Nov, 2012
New York City

European markets declined across the region as finance ministers meet one more time to agree on the next bailout release. Barclays fell 4% after Qatar based sovereign fund sold its remaining Barclays warrants.

Black Friday Shopping Lifts Tech, Retail Stocks; RiM, Visa, Wal-Mart Up

Bikram Pandey
23 Nov, 2012
New York City

Stocks traded higher on subdued volume and retailers and tech stocks were in focus. Wal-Mart faced worker

Australian Dollar Gains, Weak Stock Trading Volume

Marcus Jacob
23 Nov, 2012
New York City

Australian markets closed flat and trading volume was weak as many foreign investors were away after markets in Japan and in U.S. were closed. The Australian dollar inched higher to $1.04.

Divided EU Leaders Face More Cuts in Spending

Maureen Salinas
23 Nov, 2012
New York City

European markets were generally flat after leaders of 27 nations failed to finalize next seven year budget from 2014. Germany, UK, Sweden and Holland are pushing for larger cuts in expenses including popular farm subsidies and European officials pay.

Euro Zone Faces Deeper Downturn, Glencore Wins Approval for Xstrata Merger

Nichole Harper
22 Nov, 2012
New York City

European markets jumped and service sector conditions dropped to a 3-year low. Germany and France are struggling with shrinking orders books and the weakening sentiment in the business communities. SABMiller after first-half net income increased 17%.

Australian Stocks Gain 1% on China Manufacturing Data

Marcus Jacob
22 Nov, 2012
New York City

Australian indexes gained 1% after resource stocks gained after manufacturing index expanded to the highest rate in 13-month. Goodman Fielder said it is on track to achieve its annual savings of $100 million. Lynas said its Malaysian processing plant is scheduled to reach full-capacity next month.

Nikkei Surges 1.6% to Reach 6-Month High, Yen at New 7-Month Low

Nigel Thomas
22 Nov, 2012
New York City

Nikkei index in Japan surged to a six-month high as the yen hit a new seven-month low. Investors have bid up stocks ahead of general elections on the hopes that the new government may put more pressure on central bank to offer more stimulus measures.

U.S. Movers: Best Buy, Deere, Donaldson, News Corp, Salesforce.com

Mukesh Buch
21 Nov, 2012
New York City

Best Buy third quarter net swung to loss as revenue declined. Deere & Co fourth quarter increased 3% and lifted outlook. Donaldson first quarter net declined 21% and Heinz second quarter net climbed 13%. News Corp agreed to acquire 49% stake in YES Network.

Nikkei at 2-Month High, Fifth Monthly Decline in Exports

Nigel Thomas
21 Nov, 2012
New York City

Stock in Japan traded higher after the yen closed at a 7-month low. Japan reported its fourth monthly trade deficit in a row and exports fell for the fifth month on weak global economic conditions and a diplomatic dispute with China.

U.S. Jobless Claims Decline, Greek Saga Continues

Arthi Gupta
21 Nov, 2012
New York City

U.S. indexes declined after European leaders postponed the release of next tranche of Greek bailout to next week. U.S. weekly jobless claims fell 41,000 to 410,000.

Greek Deadlock Continues, UK Deficit Widens

Arthi Gupta
21 Nov, 2012
New York City

The European indexes edged lower after the euro area finance ministers postponed the release of bailout fund to next Monday. German leading economic index climbed in September and UK public sector net borrowing rose in October.