American Markets: DOW JONES: 12041 + 1 NASDAQ: 2749 - 1
USDINR: 45.25 +0.08 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
U.S. service industries, which make up about 90 percent of the economy and include financial firms, retailers and business consultants, are growing at the fastest pace since May 2006, a report may show today. The Institute for Supply Management's non-manufacturing gauge for January matched December's reading of 57.1, economists projected in a Bloomberg survey. A reading greater than 50 signals growth.Another report by the Labor Department may show fewer Americans filed first-time claims for unemployment insurance payments last week. Applications for jobless benefits declined 34,000 to 420,000 in the week ended Jan. 29, according to the median estimate of economists surveyed by Bloomberg.
Futures on the S& P's 500 Index were little changed today. The index fell 0.3 % yesterday in New York as earnings reports disappointed investors and as the protests in Egypt worsened.
Asian Markets: NIKKEI: 10432 -24 HANG SENG: 23908 + 426 KOSPI: 2072 +2 SGX NIFTY 5429 - 3
Most Japanese, Australian Stocks Fall on Earnings, Egypt Unrest Most Japanese and Australian shares fell as anti-government protests escalated in Egypt and earnings disappointed some investors. Panasonic Corp., the world's largest maker of plasma televisions, dropped 2.3 percent in Tokyo after the company's profit missed analysts' estimates. Chiyoda Corp., a Japanese engineering company that counts the Middle East as its main market by sales, slid 0.8 percent in Tokyo. Commonwealth Bank of Australia lost 0.8 percent after JPMorgan Chase & Co. cut its investment rating on the shares. BHP Billiton Ltd., Australia's biggest oil producer, gained 1.1 percent as oil prices rose on concern the tensions in Egypt will disrupt supplies.
The MSCI Asia Pacific Index was little changed at 139.13 as of 9:10 a.m. in Tokyo, with about twice as many shares declining as advancing. The gauge rose 1.2 percent yesterday in its biggest percentage gain since Dec. 2.
Japan's Nikkei 225 Stock Average dropped 0.2 percent, Australia's S&P/ASX 200 Index was little changed, with about twice as many stocks down as up. Stock markets in China, Hong Kong, South Korea and Singapore shut yesterday for the Lunar New Year holiday, and exchanges in Taiwan and Vietnam have been closed all week.
European Markets: FTSE: 6000 +42 CAC: 4066 -6 DAX: 7183 -1
Euro Near Three-Month High Before ECB Meets on Monetary Policy The euro traded near its highest in three months versus the dollar on speculation the European Central Bank will today signal a willingness to tackle inflation after data showed rising prices across the region.Europe's common currency also maintained three days of advances against the yen before a report that economists said will show the region's retail sales rose for the first time in five months. ECB President Jean-Claude Trichet and officials are scheduled to meet in Frankfurt today to discuss monetary policy.
Crude oil for March delivery increased 0.1% to settle at $90.86 a barrel on the New York Mercantile Exchange yesterday, after earlier climbing as much as 1.1% amid concern that the unrest in Egypt may threaten exports from the Middle East. The London Metal Exchange Index of six metals including copper and aluminum dropped 0.1% yesterday following five straight gains. Copper futures fell from a record in New York.
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Vishal Dangaich
"If someone feels that they had never made a mistake in their LIFE, then it means they had never tried a new thing in their LIFE" - Albert Einstein
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