American Markets: DOW JONES: 11007 - 15 NASDAQ: 2476 + 6
USDINR: 45.31 +0.12 EURINR: 61.65 +0.19
GBPINR: 70.37 -0.14 EURUSD: 1.39 -0.00
GBPUSD: 1.58 +0.00 USDJPY: 81.30 -0.30
Most U.S. Stocks Gain as Target Offsets Tech Spending Concerns Most U.S. stocks rose, snapping a four-day losing streak in the S & P's 500 Index, as earnings at Target Corp. and speculation that Ireland will receive aid offset concern that technology spending is slowing. Target climbed 3.4% as profit jumped 23% on credit-card unit growth. McDonald's Corp. gained 1.2%, helping give consumer shares the biggest gain among 10 industries in the S&P 500. NetApp Inc. tumbled 6.5% after the maker of storage equipment joined Cisco Systems Inc. in giving a forecast that spurred concern corporations are spending less on computer gear.The S&P 500 added less than a point to 1,178.59 in New York, after earlier rising 0.3 %. The 30-stock Dow Jones Industrial Average declined 15.62, or 0.1 %, to 11,007.88. About five stocks advanced for every four that fell on U.S. exchanges, according to Bloomberg data.
Asian Markets: NIKKEI: 9863 + 51 HANG SENG: 23214 - 478 KOSPI: 1909 + 12 SGX NIFTY 6004 + 69
Japanese Stock Futures, Australian Shares Are Little Changed Japanese stock futures and Australian shares were little changed as oil fell for a second day, while copper and nickel rose and the dollar weakened against the yen. ADR of Canon Inc., a Japanese camera maker that gets more than 80%of its sales abroad, dropped 0.2% from the closing share price in Tokyo as the exchange rate dimmed the outlook for export earnings. Those of Mitsubishi Corp., Japan's biggest commodities trader, sank 0.8 percent. BHP Billiton Ltd. and Rio Tinto Group, the world's No. 1 and No. 3 mining companies, moved less than 0.1 percent in Sydney.
The MSCI Asia Pacific Index increased 7.8 percent this year to yesterday, compared with gains of 5.7 percent by the S&P 500 and 5.3 percent by the Stoxx Europe 600 Index. Stocks in the Asian benchmark are valued at 14.4 times estimated earnings on average, compared with 13.9 times for the S&P 500 and 12 times for the Stoxx 600. The yen appreciated to 83.04 against the dollar about midnight in Tokyo, compared with 83.43 at yesterday's close of stock trading. A stronger yen cuts the value of overseas income at Japanese companies when converted into their home currency. China's cabinet confirmed yesterday evening that the government may impose temporary price controls on "important daily necessities" and production materials to counter the fastest inflation in two years. Price caps will be used if necessary, the State Council said in a statement yesterday after a meeting chaired by Premier Wen Jiabao.
European Markets: FTSE: 5692 + 10 CAC: 3792 + 29 DAX: 6700 + 36
Crude oil for December delivery tumbled 2.3 percent yesterday to $80.44 a barrel in New York, the lowest settlement since Oct. 19. The London Metal Exchange Index of prices for six industrial metals including copper and aluminum rose 0.9 percent.Copper in London rebounded yesterday from the biggest loss in six months, gaining 0.5 percent.
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