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Stocks lose $700B in


value this week

53 comments

By Ken Sweet, contributing writer July 29, 2011: 6:10 PM ET

Government debt crisis will hurt your credit


Student aid at stake in debt crisis
Debt ceiling deadlock: Who will get paid?
Reid says no deal, disputing Republicans - CNN
Hungry Girl Lisa Lillien serves up her recipe for success

Markets
US Indexes
Index

Last

Dow

Click the chart for more market data.

Change

% Cha

12,143.24

-96.87

-0

Nasdaq

2,756.38

-9.87

-0

S&P 500

1,292.28

-8.39

-0

2.80

-0.15

Treasuries
5HFRPPHQG

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-4

UHFRPPHQGDWLRQV6LJQ8SWRVHHZKDW\RXUIULHQGVUHFRPPHQG
:KDW
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Data as of
symbol

NEW YORK (CNNMoney) -- Washington's inaction regarding the debt ceiling


cost investors nearly three-quarters of a trillion dollars in this week -- at least
on paper.
This week's rout erased $700 billion worth of market capitalization, according
to financial data company Wilshire, which owns the Wilshire 5000 Index. That
index, which tracks every actively-traded stock in the United States, posted a
loss of 4.2% for the week. The Dow fell 4.2% for the week, while the S&P
declined 3.9%.
While paper losses and gains come
and go as stocks fluctuate, this was
the worst week for investors in more than a year.

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"We can politically posture all we want, and saber rattle we want, but we gotta
gotta come up with some compromise soon," said Phil Orlando, market
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It's doubtful that most investors believe the U.S. will fail to raise the debt
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rorovrsworld, 3 seconds ago

What Recovery? i honestly feel its just been a down hill slide since
2007-2008

OnlyAmerican, 9 minutes ago


Anyone in the market for the short haul is stupid.

rorovrsworld, 1 minute ago in reply to OnlyAmerican


thats how brokers make money...

1350, 46 minutes ago


All of you middle class who thing the Republican way is right (rich
don't care) how would you have liked to have your retirement/health
care in the stock market right now. Yea.........STUPID.
rorovrsworld liked this

ilaavu, 52 minutes ago


The U.S.A is finished.
rorovrsworld liked this

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Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: 2011 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones Indexe
proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM 2011 is proprietary to Dow Jones & Company, Inc. Chic
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194 comments

By Annalyn Censky @CNNMoney July 29, 2011: 12:02 PM ET

Government debt crisis will hurt your credit


Student aid at stake in debt crisis
Debt ceiling deadlock: Who will get paid?
Reid says no deal, disputing Republicans - CNN
Hungry Girl Lisa Lillien serves up her recipe for success

Mortgage & Savings Center


Mortgages

After picking up in 2010, economic growth slowed in the first six months of 2011, the government
reported Friday.

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VWKLV"

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Latest

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4.55%

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NEW YORK (CNNMoney) -- Consumers all but shut their wallets in the second
quarter, causing the U.S. economy to grow at a tepid pace.
Today's featured rates:

To make matters worse, growth in the first quarter was much slower than
initially thought, according to new government figures released Friday.
"It's quite worrisome as the economy
remains at stall speed in the second
quarter," said Sal Guatieri, senior economist with BMO Capital Markets. "If that
continues, then it would raise the risks of a double dip."
Gross domestic product, the broadest measure of the nation's economic
health, rose at an annual rate of 1.3% in the second quarter, the Commerce
Department said.
While that's an increase from the revised 0.4% growth rate in the first three
months of the year, it is hardly good news. The government originally
reported that the economy grew at a 1.9% annualized rate in the first
quarter.
The growth in the second quarter was also below the 1.8% increase expected
by economists surveyed by CNNMoney.
Dubbed a "soft patch" by economists and even Federal Reserve Chairman
Ben Bernanke, the economy's sluggishness was due to a variety of factors
that weighed on consumers and businesses.
Higher gas prices for one, hit Americans hard when they peaked at a national

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Top 10 consumer complaints


Overall, consumer spending, which accounts for roughly 70% of gross
domestic product, picked up only 0.1% in the second quarter -- marking a
significant slowdown from growth of 2.1% in the first three months of the year.
"The major disappointment in the report was the weakness in consumer
spending, and it wasn't just fewer automobiles being sold due to Japan's
earthquake. There was broad-based softness in consumer spending." Guatieri
said.

Recession widens racial wealth gap


It marked the slowest growth in consumer spending since the fourth quarter of
2009.
Looking back further, it also now appears that American consumers had less
disposable income than originally thought from 2007 through 2010, whereas
corporate profits were revised significantly higher for 2009 and 2010.
The government revised the GDP data back to 2003 and also found the
recession was worse than originally thought.
Overall, the theme of the U.S. recovery continues to be one driven by
companies holding cash on the sidelines and building up their infrastructure,
rather than a recovery driven by consumers.
Americans on Main Street continue to be held back by slow job growth and
the housing slump, even as major companies report strong profits and have
mostly solid balance sheets.
Where the jobs are
According to the latest GDP report, investment in commercial real estate
surged 8.1% in the second quarter, and business spending on equipment and
software rose 5.7%.
Meanwhile, exports rose 6%. The U.S. continues to import far more goods
and services than it exports to foreign countries, but because imports grew
at a slower rate of 1.3%, that also contributed positively to GDP.
The aftermath of Japan's earthquake and tsunami may have been one of the
major reasons import growth slowed, as the U.S. bought fewer auto parts from
the country.
Friday's GDP report also sparked cries from economists for lawmakers to act
quickly in raising the debt ceiling and agree to a deal to cut the national deficit
over the long term.

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"We don't expect a recession, but if policymakers drag their feet -- which they
are doing -- it will be a little more likely," said Paul Dales, senior U.S.
Economist for Capital Economics.
Guatieri said: "If the government does not raise the debt ceiling and is forced
to cut back spending and Social Security checks, that could undermine
consumer spending even further."
-- CNN's Katy Byron contributed to this report
First Published: July 29, 2011: 8:44 AM ET
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KXS5020, Today 12:38 PM


Economy won't grow untit we bring jobs home and stop importing
workers from other countries. Unfortunately, Congressmembers
and government officials are sold out to the special interests, and
that's where the representation of the People cease and corruption
become the norm.

ADiff, Today 12:12 PM


Wow, it's a Green economy!
Paul Hilburger liked this

bestthumper, Today 11:25 AM


Looks like they are saying it all started in 2007, isn't that when the
democrats took over control of the congress? Intresting very
intersting.
1 person liked this.

Nathan Scandella, Today 05:55 AM


If you look at the bar chart at the top, it's pretty clear that modest
economic growth coincided EXACTLY with the 2009 fiscal

stimulus program (aka the Recovery Act). That was a $787B


program, which when spent over two years, equates to about 3% of
GDP.
Look at the chart again. The amount by which the GDP numbers
got better over that time period was just about exactly 3% of GDP.
In other... show more

bestthumper, Today 11:22 AM in reply to Nathan


Scandella

Remember that economic growth was aided by the


temporary hiring of over 10,000 census workers.

40

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proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM 2011 is proprietary to Dow Jones & Company, Inc. Chic
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MARKETS

Dow Sinks for 6th-Straight Day in Worst Week in


12 Months

MARKET SNA

DJIA

By Adam Samson
Published July 29, 2011 | FOXBusiness

12,143.24
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-0.79%

FOX Business: The Power to Prosper


A stalemate in Washington over lifting the debt ceiling, combined with gloomy economic data, sent the blue
chips tumbling more than 4% for the
week.

Mouse ove

Today's Markets
The Dow Jones Industrial Average slipped 69.9 points, or 0.79%, to 12,143, the S&P 500 fell 8.4 points, or
0.65%, to 1,292 and Nasdaq Composite dipped 9.9 points, or 0.36%, to 2,756. The FOX 50 dropped 7.7
points to 918.

RELATED TOP
Mergers and Acqu
Pharmaceuticals

Reuters

The markets fared better for the month


than on the week: the Dow and S&P 500

Revenue Growth

both lost 2.2%, while the Nasdaq inched lower by 0.6%.

Dow Jones

The House of Representatives is expected to vote on the debt bill proposed by Republican Speaker John
Boehner, which will raise the debt ceiling in two moves, on Friday night after the vote was postponed late
Thursday.

Inflation

The new plan includes a trigger that would require a balanced budget amendment to be passed the second
time the debt ceiling is raised, a move that would be highly unpopular among many Democrats. Indeed,
Harry Reid, the Senate Democratic Leader, has repeatedly said the bill will fail in the Senate, and the
Obama Administration has threatened to veto a similar plan.
LAST 5 STOC

A failure to raise the debt limit by the Aug. 2 deadline may force the U.S. to miss benefits payments for
million of Americans, fail to pay certain government contractors and potentially default on its debt. Ratings
companies have also warned that a downgrade of America's coveted 'AAA' credit rating will come if
lawmakers fail to craft a credible plan to reduce the deficit. As the negotiations tick on it is becoming less
and less likely that a major deal will be crafted, analysts have said, meaning a downgrade may be more
likely.

FOX50
FOX 50 INDEX

GS
THE GOLDMAN S.

While it is impossible to say exactly what the effects of a downgrade, or worse, default, would be, many
economists predict it will have a negative affect on the economy.

MSFT

There is not "any historical episode [that is] a close parallel to current US circumstances," analysts at
Goldman Sachs wrote in a research note to clients, adding "uncertainty about market effects is high."

GOOG

An initial reading on U.S. gross domestic product showed the economy expanded at an annualized pace of
1.3% in the second quarter, worse than the 1.8% economists expected. Additionally, first-quarter GDP was
revised significantly lower to 0.4% from the previous estimate of 1.9%. Indeed, the pace of the economic
recovery has been quite slow by historic standards.

XOM

"The current recovery is, nominally speaking, the worst of any recovery since the early 1920s," wrote Daniel
Greenhaus, chief global strategist at BTIG, in a research note. "That is truly both a historic and awful
accomplishment and yet it underscores the size and scope of the issues facing the United States."
Reuters/University of Michigan's final revision of July consumer sentiment fell to 63.7 from a preliminary
reading of 63.8 coming in just shy of economists' forecasts of 64. Consumer sentiment directly affects
several sectors, particularly retailers like Best Buy (BBY: 27.60, -0.34, -1.22%).
A report from the Institute for Supply Management on manufacturing activity in the mid-west came in below
expectations as well. The index fell to 58.8 from 61.1 the prior month, falling short of expectations of a
reading of 60.
In corporate news, Merck (MRK: 34.13, -0.80, -2.29%) and Chevron (CVX: 104.02, -1.01, -0.96%) are the
last of six Dow components to report second-quarter earnings this week.
Merck revealed profits excluding one-time items of 95 cents a share on revenue of $12.2 billion. The
pharmaceutical giant's bottom-line matched estimates, while sales beat calls of $11.8 billion.
Chevron earned $3.85 a share, well better than the $3.56 analysts estimated. The second-largset U.S. oil
company's revenue grew to $67 billion, missing estimates of $71.6 billion.
Energy markets were in the red.
Light,sweet crude fell $1.74, or 1.8%, to $95.70 a barrel. Wholesale RBOB gasoline slipped by less than a
penny to $3.11 a gallon.
Prices at the pump were stable overnight. A gallon of regular costs $3.71 on average nationwide, up from
$3.54 last month, and well higher than the $2.74 drivers paid last year.
Amid the volatility, traders once again flocked to gold, which has continually hit record highs. The precious
metal gained $15.00, or 0.93%, to $1,631 a troy ounce. Silver climbed 31 cents, or 0.78%, to $40.11 a troy
ounce.
In currencies, the euro gained 0.32% against the U.S. dollar, while the greenback fell 0.41% against a
basket of world currencies.
Corporate News
Yahoo (YHOO: 13.10, -0.40, -2.96%) reached an agreement with Alibaba Group and Softbank over
Alibaba's Alipay e-payment unit.
Vodafone (VOD: 28.10, +1.25, +4.66%) plans on paying out the $3.2 billion dividend it is expected to get
from Verizon Wireless to shareholders, sending shares soaring.

MICROSOFT COR.

GOOGLE INC.

EXXON MOBIL C...

Amgen (AMGN: 54.70, +1.27, +2.38%) posted adjusted second-quarter profits of 1.37 a share, zipping
past estimates of $1.28.
UBS (UBS: 16.48, +0.21, +1.29%) tapped Bank of America's (BAC: 9.71, -0.08, -0.82%) Mike Stewart to
be its co-head of global equities.
Foreign Markets
The English FTSE 100 fell 0.99% to 5,815, the French CAC 40 dipped 1.1% to 3,673 and the German DAX
dipped 0.44% to 7,159.
In Asia, the Japanese Nikkei 225 slipped 0.69% to 9,833 and the Chinese Hang Seng fell 0.58% to
22,440.

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U.S. debt confusion spooks world markets
AP

AP In this July 28, 2011 photo, traders work at the New York Stock Exchange. Global stock markets fell on Frida
vote on raising the government's debt limit and avoiding a potential default.

Concerns that American lawmakers wont agree a deal to raise the U.S. debt ceiling in the nex
reverberate around markets on Friday, with stocks down again.
If Congress doesnt raise the debt ceiling, the amount of debt the government can accumulate
could be forced to default on at least some of its obligations.
While investors have been jittery about that prospect for weeks, the inability this week of Rep
to get their own party to agree on a plan has reinforced those fears with just days to go.
Even if they do come up with a deal in time, ratings agencies could still downgrade U.S. debt
borrowing costs up and make it more difficult for Congress to reduce the amount of money t
Even if the debt ceiling deadline is met, the current proposals on the table and lack of bipart
with the deficit issues in a credible and timely fashion, suggest that the risks of a U.S. credit d
said Robin Bahr, an analyst with Credit Agricole.
A U.S. downgrade or default would harm an already fragile global economy. There were sign
recovery was losing steam- eurozone inflation unexpectedly dropped and economists are pre
figures set to be released later in the day will be poor.
Oil has been pushed down by the slow growth as well, with the main New York contract tradi
barrel lower at $96.65.

In Europe, the FTSE 100 index of leading British shares was down 0.9 per cent at 5,820 whil
per cent at 7,127. The CAC-40 in France was 1.2 per cent lower at 3,667.
Wall Street was poised for a decline in the open, Dow futures were down 0.5 per cent at 12,12
Poors 500 futures fell 0.5 per cent at 1,290.
The U.S. open though could well be impacted by the first estimate of economic growth in the
Economists are forecasting that the economy expanded at an annual rate of 1.7 per cent, dow
quarters 1.9 per cent growth, amid weak consumer spending, dismal hiring and cuts in gover
While the main focus of concern this week has been on the debt debate in the U.S., there are
weeks bailout deal for Greece hasnt been enough to assuage fears that bigger economies suc
get sucked into the vortex of Europes debt crisis.
Moodys warned on Friday that the pressures on Spain have risen since the deal as it warned
on the country in the next three months.
Though Moodys said a one-notch downgrade was the most likely outcome, investors are fret
Spain could get worsen in the coming months especially now that Prime Minister Jose Luis R
called early general elections for November.
Europes debt problems are continuing to weigh on the euro even at a time when the dollar is
U.S.s own debt issues. By early afternoon London time, the euro was 0.5 per cent lower at $1
Earlier in Asia, Japans Nikkei 225 stock average closed down 0.7 per cent at 9,833.03. Hong
lost 0.6 per cent to 22,440.25 and Chinas Shanghai Composite Index shed 0.3 per cent to 2,7
South Koreas Kospi slid 1.1 per cent to 2,133.21. Australia and Bombay also declined while S
cent.
Keywords: U.S. debt ceiling crisis

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Print Story
Weekly review: Sensex dips by 525 pts
Agencies
Posted online: 2011-07-30 15:31:58+05:30
MumbaiThe BSE benchmark Sensex plunged by 525 points to a 5-week low of 18,197.20 in the week under review on
heavy selling pressure on fears of negative impact on corporate growth due to interest rate hike by the RBI amid
maintaining hawkish stance on further monetary actions.
Global turmoil due to US debt tensions and weaker-than-expected US economic data too affected the market mood.
Traders as well as investors kept themselves away from making major purchases due to postponement of a vote in the
House of Representatives on a US debt plan.
The Reserve Bank of India in its first quarter review of the monetary policy 2011-12, on July 26, hiked the short-term
lending (repo) and borrowing rates (reverse repo) by 50 basis points to tame high inflation, making all personal and
corporate loans more expensive.
The apex bank has also revised its fiscal-end inflation projection to 7 per cent from 6 per cent earlier.
Interest rate sensitive stocks from realty, banking and auto segments bore the brunt of heavy selling.
Offloading long positions in view of the expiry of July contract too aggravated the situation.
Metal stocks also were at the receiving end, following fall in metal prices at the London Metal Exchange (LME).
The BSE benchmark Sensex resumed slightly higher at 18,753.35 and hovered in a range of 18,944.60 and 18,131.86
before ending the week at 18,197.20, showing a loss of 525.10 points, or 2.80 per cent, from its last weekend's level.

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Sputtering Economy Sends Dow Plunging 266


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101

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DJIA

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Traders shrugged off a last-minute deal
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plummeting for the eighth-straight day.

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The Dow Jones Industrial Average


plummeted 266 points, or 2.2%, to
11,867, the S&P 500 slid 32.9 points, or
2.6%, to 1,254 and the Nasdaq Composite tumbled 75.4 points, or 2.8%, to 2,669. The FOX 50 dipped 21
points to 897.
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In a sign of the breadth of the selloff on Wall Street, 90% of the volume on the
New York Stock Exchange was in declining stocks. Adding to the negative
sentiment, the blue chips have ended in the red for the past eight sessions -shedding 858 points -- the longest losing streak since the financial crisis three
years ago.
A bout of disappointing economic data, including a steep downward revision to
first-quarter economic expansion and an unexpectedly sharp decline in U.S.
manufacturing, has led market participants to doubt the robustness of the
economic recovery in recent sessions.
"The U.S. economy is very close to stall speed," wrote Peter Fisher, head of
fixed income at asset-management giant BlackRock. "With the weakness of the
U.S. economy becoming increasingly apparent, consumption and investment
decisions are rising to the forefront."
Data released Tuesday showed personal spending fell for the first time in
nearly two years in June. The gauge of consumption dipped 0.2% , according
to the Commerce Department, shy of the 0.2% increase economists expected.
Meanwhile, personal income grew at a pace of 0.1% for the month, slower
than forecasts of 0.2%. On the whole, the report points to weakening
consumption, which directly factors into broader economic growth measures.
"The dismal employment market and increasing prices are pushing Americans
to save more and spend less," wrote Chris Christopher, senior principal
economist at IHS Global Insight.
The closely-watched monthly employment report for July is on tap for Friday,
and is expected to show the economy added 57,000 jobs, which would keep
the unemployment rate steady at 9.2%. The labor market has been extremely
slow to come back during the economic recovery.

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FOX 50 INDEX

5:15 PM

GS
THE GOLDMAN S...

MSFT
MICROSOFT COR...

-2.92

896.99

131.23

4:01 PM Barclays Targets 3K in Job


Cuts as ...

-0.47

26.80

4:00 PM Twitter Reportedly Valued at


More T...

http://www.foxbusiness.com/markets/2011/08/02/sputtering-economy-sends-d... 02-Aug-2011

Page 2 of 4

RELATED VIDEO

Debt Woes in Focus


President Obama signed a bill to raise the debt ceiling after the bill sailed
through the Senate earlier on Tuesday. The measure was the subject of heated
debate on Capitol Hill and in the halls of the White House for months and
voting came hours before the deadline set by the Treasury Department.

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While the passage of the bill will help the country avoid a catastrophic default,
the chance remains that credit ratings companies may choose to downgrade
America's coveted 'AAA' credit rating, which could strongly impact world credit
markets, analysts say.
Fitch said Tuesday the compromise-deal is in line with the 'AAA' credit rating,
and represents a step in the right direction. However, the ratings company
noted the country will have to confront difficult choices to balance tax and
spending while dealing with a weak economic backdrop.
The debt deal "does not put the U.S. on a sustainable fiscal path," economists
at Barclays Capital wrote in a note to clients, adding "weakness in U.S. growth
has the potential to offset most of the savings claimed by the debt reduction
package."
Every major sector fell sharply on the day, leaving few shelters in the equities
markets. Conglomerates like General Electric (GE: 17.21, -0.76, -4.23%) and
United Technologies (UTX: 78.93, -3.41, -4.14%) struggled the most on the

day.
Volume on the New York Stock Exchange was the highest in more than four months, which market
participants see as a sign of conviction in the selloff.

In a continued flight to safe assets, gold soared to yet another nominal record high. The precious metal
settled higher by $22.80, or 1.4%, to $1,645 a troy ounce.
The euro zone debt crisis also worried traders on Tuesday after BNP Paribas, Europe's biggest lender by
assets, took a roughly $757 billion writedown on its Greek sovereign debt. Greece, which has an
enormous public debt burden, is in need of a rescue package from euro zone authorities and has seen its
credit rating being sliced into junk territory and just slightly above default.
There were also concerns that the sovereign debt crisis would spillover into larger, more prominent
economies, like Spain and Italy, according to Peter Boockvar, managing director at Miller Tabak + Co.
Energy markets were in the red. The euro fell 0.48% against the U.S. dollar, while the greenback rose
0.16% against a basket of world currencies.
Light, sweet crude fell $1.10, or 1.2%, to $93.79 a barrel. Wholesale RBOB gasoline dipped 2 cents, or
0.55%, to $3.04 a gallon.
Prices at the pump were once again stable overnight, but remain highly-elevated as compared to last year.
A gallon of regular costs $3.70 on average nationwide, up from $3.57 last month, and the $2.74 drivers
paid last year, according to the AAA Fuel Gauge report.
Corporate News

http://www.foxbusiness.com/markets/2011/08/02/sputtering-economy-sends-d... 02-Aug-2011

Page 3 of 4

Pfizer (PFE: 18.14, -0.87, -4.58%) revealed second-quarter earnings, excluding one-time costs, of 60
cents a share, topping estimates by a penny. The pharmaceutical giant posted revenue of $17 billion, just
slightly higher than analysts forecast.
Sirius XM Radio (SIRI: 2.07, -0.04, -1.90%) raised its full-year new subscriber outlook to 1.6 million, from
a previous forecast of 1.4 million, sending shares jumping.
Barclays (BCS: 14.02, -0.33, -2.30%) unveiled a 38% drop in quarterly profits, prompting a fresh round of
layoffs.
Foreign Markets
The English FTSE 100 fell 0.7% to 5,733, the French CAC 40 dipped 1.5% to 3,533 and the German DAX
plunged 2.2% to 6,801.
In Asia, the Japanese Nikkei 225 tumbled 1.2% to 9,845 and the Chinese Hang Seng dropped 1.1% to
22,422.

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The Hindu : Business / Markets : Sensex dips below 18,000 mark ...

1 of 1

http://www.thehindu.com/business/markets/article2319196.ece

Business Markets
Sensex dips below 18,000 mark to over six-week low
PTI

The Hindu Brokers said trading sentiment turned bearish after Bharti Airtel posted poor results and the Prime Ministers Economic Advisory
Council lowered the countrys yearly growth forecast. File photo

The Bombay Stock Exchange benchmark Sensex on Wednesday slumped below 18,000 mark to its lowest in over six
weeks, shedding 169 points as funds sold banking, auto and heavy machinery stocks over worries over a slowing
domestic growth amid weak global trends.
The Bombay Stock Exchanges 30-scrip index, which had lost 204 points in the last run, touched the intraday low of
17,859.50 before closing 169.34 points down at 17,940.55, a level last seen on June 16.
Sensex leaders RIL and Infosys lost by 1.19 per cent and 0.76 per cent, respectively. Lenders led by ICICI Bank and
HDFC Bank fell on worries over sticky inflation and rising interest rates might dent the revenue on fall in loan demand.
Interest rate-sensitive auto and realty stocks also suffered losses on concerns over rising borrowing costs.
Brokers said trading sentiment turned bearish after telecom major Bharti Airtel posted poor results for the first quarter
of this fiscal and the Prime Ministers Economic Advisory Council lowered the countrys yearly growth forecast to 8.2
per cent from 9 per cent.
Sentiment at home was also influenced by a weak Asia and lower opening of European stocks on nagging sovereign
debt worries after it emerged that Italy had approached the European Union to settle a potential debt crisis at home
after yields on Italian bonds touched the highest in Euro-history.
U.S. data showing decline in consumer spending in June further dampened the sentiment.
Broad-based National Stock Exchange index Nifty dropped below 5,400 level before ending 51.75 points to lower to
5,404.80.
Keywords: BSE, Sensex, stock market

03-Aug-2011 8:15 AM

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DJIA 11,383.68 -512.76 -4.31% NASDAQ 2,556.39 -136.68 -5.08% S&P 1,200.07 -60.27 -4.78%

Dow plunges 513 points; 2011 gains


are wiped out
Stocks plunge as worries about global growth cause traders to
dump stocks and seek safety. Gold briefly tops $1,680 but falls
back. Treasury yields fall as the dollar rises.
52%

48%

THE INVESTED LIFE

investor pro

8/4/2011 4:19 PM ET | By Charley Blaine, MSN Money

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TICKERS IN THIS ARTICLE


Stocks plunged, with the Dow Jones Industrial Average ($INDU -4.31%)tumbling 513 points, their worst one-day
loss since December 2008 and ninth-worst point loss, as investors worried that the U.S. economy may be slipping back
into a recession. The overall market carnage wiped out all of the 2011 gains for the major averages.
The market rout was prompted in part by concerns that the Federal Reserve won't try to boost the economy again and
the prospects of little -- if any -- help on the way from the federal government. A huge concern was what Friday's big jobs
report will say. In addition, there were deep fears about the health of the European financial system; stocks on the
continent fell sharply. Stocks in Brazil were down nearly 6%.
With today's losses, the market is now in a correction, with the Dow, Standard & Poor's 500 Index ($INX 4.78%)and the Nasdaq Composite Index ($COMPX -5.08%)all down more than 11% from the closing highs for
2011, reached on April 29. Nearly all of the declines for the indexes have come since July 21; the Dow's loss in that
time is about 1,340 points.
Gold briefly surged above $1,680 an ounce for the first time and then sold off, and crude oil dropped below $88 a barrel
for the first time since mid-February.
The Dow closed down 513 points, or 4.3%, to 11,384. The S&P 500 was off 60 points, or 4.8%, to 1,200, its lowest level
since Nov. 30, 2010. The Nasdaq was off 137 points, or 5.1%, to 2,556, its lowest level since Dec. 1, 2010. The
Nasdaq 100 Index ($NDX -4.57%)was down 106 points, or 4.6%, to 2,207.
While gold fell back, investors bid hotly for Treasurys. The
10-year Treasury yield fell to 2.458% from Wednesday's
2.599%.

Dow drops 500 points

Gold settled down $7.30 to $1,659 an ounce after reaching


as high as $1,684.90. Silver was off $2.33 to $39.43 an
ounce, a decline of 5.6%. Crude oil was down $5.30, or
5.8%, to $86.63 a barrel, its lowest level since Feb. 18 as
the Egyptian revolution neared its climax. It had reached as
low as $86.04.

What started the blow-off?


The supposed trigger was a weak report on initial jobless
claims. They were down 1,000 to 400,000. A week ago's
estimate of 398,000 was revised to 401,000.
View more MSN videos

Go to Nightly News

The number raised the worries for Friday's nonfarm payrolls


and unemployment report. The report, which will come out
at 8:30 a.m. ET, is expected to show little change in the
unemployment rate, which was 9.2% in June, and maybe a
85,000 gain in nonfarm payrolls.
But there were other big issues, including a move by the
Bank of Japan to push the yen lower against major

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U.S. markets closed

'RZSOXQJHVSRLQWVJDLQVDUHZLSHGRXW0DUNHW'LVSDWFKHV0610RQH\
currencies, especially the dollar.
In addition, European stocks plunged on worries that debt
problems for Greece, Portugal, Italy and Ireland were worsening. The European Central Bank unexpectedly began
large-scale intervention in the eurozone debt markets, the first time since March, buying bonds in an apparent attempt
to prevent the region's sovereign debt crisis from engulfing Italy.
The market tensions also set off a furious battle between investors wanting safety in Swiss francs and the Japanese yen
and the central banks of those countries, which don't want their economies priced way too high.

Worst sell-off in over 2 years


Today's sell-off was the worst for the major averages since Dec. 1, 2008. Very little was spared.
General Motors (GM -4.34%, news)was down to $25.99 after second-quarter results beat estimates. But the
company warned that the second half of 2011 may be lower than first-half profits. Ford Motor (F -6.78%, news)fell to
$10.86.
Mighty Apple (AAPL -3.87%, news)and Google (GOOG -3.93%, news)were off to $377.37 and $577.52, respectively.
All 30 Dow stocks were lower. The best performer was Kraft Foods (KFT -1.52%, news), which dipped to $33.78.
The company announced plans today to spin off its North American grocery business to shareholders, splitting the
existing company in two. The grocery business would consist of the company's U.S. beverages, cheese, convenient
meals and grocer segments and nonsnack items in its Canada and North American Food Service operations.
Only 3 S&P 500 stocks were higher: Motorola Mobility (MMI +3.64%, news), Vulcan Materials (VMC +1.64%,
news)and PG&E (PCG +0.42%, news).
None of the Nasdaq-100 stocks was higher. The top performers were Sears (SHLD -0.71%, news)and Costco
(COST -0.74%, news), down to $66.87 and $76.51, respectively.

Continued: Winners and losers


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batman2009

of 26

3 seconds ago

For anybody optimistic about how American business will do the right thing (or ever would have),
please read Grapes of Wrath. Then come tell me how great business is, and how it is a good idea to
give them every tax cut and financial break possible. Because they will do the right thing. It is
disgusting how stupid people choose to be, even when this has all happened before and has been
documented.
0

oscar97

34 seconds ago

obama said we need to tax people who have more money than they need "LIKE ME" well i don't hear
him say anything about paying some of those extra dollars that he doesn't need. president reagan
was the only president who voluntarily paid taxes while in office
0

tao of wow

45 seconds ago

I disagree that pushing for a older retirement means you work in till you die. The Quality and length of
life has gone up. I do however think that there is exceptions for every case.
0

batman2009

3 minutes ago

This is why you do not create business-friendly tax environments. Now our government is broke AND
to protect their profits, businesses still aren't hiring because the government is broke. The politicians
of America (on both sides) handed this country and its resources over to American business 30 years
ago. The fact that we only now see what we have become is irrelevant, Reagan ruined this country in
the 80s and everybody since him has done a good job of making it even worse. The only thing
Clinton did right was to raise taxes.
0

terrible terr

3 minutes ago

W.C. Fields said it best ! ""Never Give a Sucker an Even Break"


gives me goose bumps to know he was right !

KWWSPRQH\PVQFRPLQYHVWLQJGRZSOXPPHWVPDUNHWGLVSDWFKHVDVS[>$XJ30@

'RZSOXQJHVSRLQWVJDLQVDUHZLSHGRXW0DUNHW'LVSDWFKHV0610RQH\

Klaus Vonterinealis

4 minutes ago

Hyper inflation, here we come!!!


1

Letterofmarque

4 minutes ago

DOW drops over 500 points. Happy Birthday, Mr. President! We need more of your keen insight and
wisdom.

RENEE LOVE

5 minutes ago

Mred99-older retirement would mean working until you die, then social security would be irrelevant,
but you've paid into all your life. Yeah push up the retirement age and take away the social security
tax!!! That's the only way I would agree to work past 65, unless you can guide me to the fountain of
youth, one that actually works!!!!
0

cragig

5 minutes ago

"investors worried that the U.S. economy may be slipping back into a recession"

We were actually out of a recession? I guess I must have missed something.

Wu was a Tiger

6 minutes ago

Mr President your a Failure. No Hope, No Compromise. Liberals are like Herpes, until the outbreak
happens again you for get how bad it is
6

tao of wow

8 minutes ago

American people were doing just fine when the market was below 10,000.
2

sasha_dobie

8 minutes ago

Just an aside here; It seems to me that a career is becoming more than just your working life, it
seems that as a society we are heading back toward a time where it will be a you work until we toss
dirt on you life. That is unless you are a member in the elite class of society.
Also, I thought you might just like a little light classic reading, (Fahrenheit 451, (Ray Bradbury), Of
Mice and Men(John Steinbeck), 1984, (George Orwell)).

eddieboy111

9 minutes ago

If you think that our so called commander and chief is not responsible for this mess,YOUR NUTS.You
obviously know nothing about what is going on in this country.I am sure if something goes right for
this country you will want to give all the credit to him.But there is nothing thus far to give him credit for
that is positive for this country.He is the worst president ever and you just dont want to admit that you

KWWSPRQH\PVQFRPLQYHVWLQJGRZSOXPPHWVPDUNHWGLVSDWFKHVDVS[>$XJ30@

'RZSOXQJHVSRLQWVJDLQVDUHZLSHGRXW0DUNHW'LVSDWFKHV0610RQH\
fell for his B.S. and voted for him.
13

batman2009

10 minutes ago

Good. I hope the whole thing comes crashing down. Republicans want us to put our faith in private
businesses, and every hit the stock market takes is one step closer to Americans waking up and
investing in their future, aka, the government. Obviously, the government is dumb enough to get tied
up in Wall Street's mess, but if it all collapsed overnight and we were no longer amazed by big
corporations and big business, and we went back to smaller, more manageable businesses, I think
that would be a good thing. I don't even feel bad about this. The Republicans got what they wanted
in the debt bill, and already we see the effects of weakening our government.
6

work20

11 minutes ago

To all those idiots in this post who keep saying "The Govt. does not create jobs", the private sector
does,...
You retards deserve to lose your jobs if you have one right now,. 'coz the private sector NEVER
created jobs since 2000, and will NOT, till the US worker agrees to work for 5 cents / hour. And you
retards call this Capitalism ??

15

Tracy Mauro

13 minutes ago

Am I supposed to think we are going in the right direction as a country well I don't, Am i supposed to
think people and this country care about us any more well i don't, when all they do is take, take,
take, from me and my family, this country has done nothing but take from us as civilians and we have
no more to give and no other place to go. So tell me if you have a better idea. We have no medical
system, a very weak education system, a very, very weak economy system ( no jobs). Where do i go
and what do i do.

Klaus Vonterinealis

13 minutes ago

No equity in our homes now, $4.00 gas, high food and utilities, high healthcare, and now our 401k is
losing a ton of money.

Yes We Can! Not!

11

RENEE LOVE

14 minutes ago

Why is the media so hell bent on trying to fool the average american into believing that we are in a
recovery instead of recession headed towards depression??? The job market hasn't gotten better,
prices for food are getting more and more ridiculous while the dollar's purchasing power is not worth a
nickel(4 cents to be exact). It pisses me off that they assume that we are all stupid and unplugged
from reality!!!
12

southern home builder

14 minutes ago

JKR100
I looked up 'historical budgets' at whitehouse.gov just like you said........................And NOTHING
there was like you claimed. Sorry dude, you are wrong.
As to your imaginary surplus........................Look up "national debt by year' click on the government

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(.gov) site and read the numbers for each and every year that clinton was president. You will see that
we went further in debt each year..............ergo, no balanced budget, much less any surplus. (if the
budget was balanced we would have spent the same as what we took in, not gone further in debt. If
tthere
e e had
ad ever
e e been
bee a surplus
su
surplus,
p us, the
t e debt would
ou d have
a e DECREASED!)
C
S
)
In a nutshell
nutshell,
uts e , the
t e
i
imaginary
i
surplus
l was just
j t like
lik the
th imaginary
i
i
balanced
b l
d budget
b d t Simply
Si l a lie
li told
t ld to
t us by
b clinton
li t
More
6

Klaus Vonterinealis

16 minutes ago

W2 You're an idiot.
4

of 26

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The BSE benchmark Sensex on Thursday declined by 247 points to extend the
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rising inflation would force the central bank to hike interest rates again.
After regaining the 18,000-point level at the outset, the Bombay Stock Exchange
30-share index, Sensex, closed down by 247.37 points to 17,693.18, its lowest
level in more than six week.

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the monetary policy further which could impact the economic growth.
Analysts said already earnings reported by eight out of 19 of Sensex companies
have lagged behind market estimates for the first quarter of this fiscal.
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broader Standard & Poors 500 incex dropped 60.26 points, or 4.78 per cent, to
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The Hindu : Business / Markets : Sensex plummets over 387 point...

http://www.thehindu.com/business/markets/article2327627.ece

Business Markets
Sensex plummets over 387 points to 14-month low on global worries
PTI

The Hindu Stockbrokers react as they monitor share prices during intra-day trade at a brokerage firm in Mumbai on Friday. Photo: Paul
Noronha

The BSE benchmark Sensex plunged by over 387 points to hit nearly 14-month lows on major sell-off by funds, driven
by melting global markets amid fears over the U.S. economy moving towards recession.
The Bombay Stock Exchange index, Sensex, plummeted by another 387.31 points, or 2.19 per cent to 17,305.87, the
level last seen on June 10 last year.
During the intra-day trade, the gauge had lost over 702 points to slip below 17,000 points to hit a low of 16,990.91
points, a level last seen on May 14, last year.
All the 13 sectoral indices recorded major losses with stocks of IT, metals, realty, financials, oil and gas and capital
goods leading the fall.
Broad-based National Stock Exchanges 50-share index Nifty nosedived by 120.55 points, or 2.26 per cent to 5,211.25.
It had dipped below the psychosocial 5,200 points level to trade at 5,116.45 points at the outset of session.
Sentiment on the domestic bourses turned distinctly weak largely in tandem with overnight slide on the US market on
worries over a possible recession and European debt worries, triggering widespread selling by major players including
foreign funds.
Market major Reliance Industries sank to a fresh 52-week low of Rs 778.55 before recovering partially to close at Rs
791.65, still down by 2.57 per cent.
Shares of State-run oil marketing companies Indian Oil, HPCL and BPCL recorded smart gains, despite huge losses
suffered by the overall market.
Analysts said that stocks posted gains amid reports that the government was moving in direction of de-control of diesel
prices.
A weakening trend in crude oil in global market which would reduce the subsidy burden, also supported the upside in
oil company stocks, they said.
Among sectoral indices, the IT sector index suffered the most, losing 3.93 per cent to 5,459.02 as Tata Consultancy
Services dropped 3.66 per cent to Rs 1,056.70, while Infosys Technologies tanked 4.35 per cent to Rs 2,590.55.

1 of 2

05-Aug-2011 8:50 AM

The Hindu : Business / Markets : Sensex plummets over 387 point...

http://www.thehindu.com/business/markets/article2327627.ece

The realty sector index closed 3.13 per cent down at Rs 1,888.97 followed by the metal index that tumbled by 2.44 per
cent to 13,061.95 points, while the Bankex shed 1.67 per cent to 11,833.22 points..
In the Asian region, Hong Kongs Hang Seng index sank 4.29 per cent while Japans Nikkei ended 3.72 per cent lower
today. All the European markets were also trading in the red the opening trade on Friday.
Keywords: BSE, sensex, closing trade, U.S. debt crisis, stocks crash

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05-Aug-2011 8:50 AM

S&P downgrades US credit rating from AAA - Yahoo! Finance

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S&P issues unprecedented downgrade of US credit rating, saying debt package falls short

Martin Crutsinger, AP Economics Writer, On Friday August 5, 2011, 11:55 pm EDT

WASHINGTON (AP) -- The United States has lost its sterling credit rating from Standard & Poor's.
The credit rating agency on Friday lowered the nation's AAA rating for the first time since granting it in 1917. The move came less than a week
after a gridlocked Congress finally agreed to spending cuts that would reduce the debt by more than $2 trillion -- a tumultuous process that
contributed to convulsions in financial markets. The promised cuts were not enough to satisfy S&P.
The drop in the rating by one notch to AA-plus was telegraphed as a possibility back in April. The three main credit agencies, which also
include Moody's Investor Service and Fitch, had warned during the budget fight that if Congress did not cut spending far enough, the country
faced a downgrade. Moody's said it was keeping its AAA rating on the nation's debt, but that it might still lower it.
One of the biggest questions after the downgrade was what impact it would have on already nervous investors. While the downgrade was not a
surprise, some selling is expected when stock trading resumes Monday morning. The Dow Jones industrial average fell 699 points this week,
the biggest weekly point drop since October 2008.
"I think we will have a knee-jerk reaction on Monday," said Jack Ablin, chief investment officer at Harris Private Bank.
But any losses might be short-lived. The threat of a downgrade is likely already reflected in the plunge in stocks this week, said Harvey
Neiman, a portfolio manager of the Neiman Large Cap Value Fund.
"The market's already been shaken out," Neiman said. "It knew it was coming."
One fear in the market has been that a downgrade would scare buyers away from U.S. debt. If that were to happen, the interest rate paid on U.S.
bonds, notes and bills would have to rise to attract buyers. And that could lead to higher borrowing rates for consumers, since the rates on
mortgages and other loans are pegged to the yield on Treasury securities.
However, even without an AAA rating from S&P, U.S. debt is seen as one of the safest investments in the world. And investors clearly weren't
scared away this week. While stocks were plunging, investors were buying Treasurys and driving up their prices. The yield on the 10-year
Treasury note, which falls when the price rises, fell to a low of 2.39 percent on Thursday from 2.75 percent Monday.
A study by JPMorgan Chase found that there has been a slight rise in rates when countries lost an AAA rating. In 1998, S&P lowered ratings
for Belgium, Italy and Spain. A week later, their 10-year rates had barely moved.
The government fought the downgrade. Administration sources familiar with the discussions said the S&P analysis was fundamentally flawed.
They spoke on condition of anonymity because they weren't authorized to discuss the matter publicly. S&P had sent the administration a draft
document in the early afternoon Friday and the administration, after examining the numbers, challenged the analysis.
S&P said that in addition to the downgrade, it is issuing a negative outlook, meaning that there was a chance it will lower the rating further
within the next two years. It said such a downgrade, to AA, would occur if the agency sees smaller reductions in spending than Congress and
the administration have agreed to make, higher interest rates or new fiscal pressures during this period.
In its statement, S&P said that it had changed its view "of the difficulties of bridging the gulf between the political parties" over a credible
deficit reduction plan.
S&P said it was now "pessimistic about the capacity of Congress and the administration to be able to leverage their agreement this week into a
broader fiscal consolidation plan that stabilizes the government's debt dynamics anytime soon."
One analyst suggested the downgrade might move Congress to take concrete steps to fix the nation's budget problems.

06-Aug-2011 1:03 AM

S&P downgrades US credit rating from AAA - Yahoo! Finance

2 of 2

http://finance.yahoo.com/news/SampP-downgrades-US-credit-apf...

"It's a downgrade and it's bad, but if it spurs more conversation about bringing down spending and maybe more intelligent tax policy, it could
be a good thing in the long run," said Frank Barbera, a portfolio manager of the Sierra Core Retirement Fund.
The Federal Reserve and other U.S. regulators said in a joint statement that S&P's action should not have any impact on how banks and other
financial institutions assess the riskiness of Treasurys or other securities guaranteed by the U.S. government. The statement was issued to make
sure banks did not feel that the downgrade would affect the amount of capital that regulators require the banks to hold against possible losses.
Before leaving for a weekend at Camp David, President Barack Obama met with Treasury Secretary Timothy Geithner in the Oval Office late
Friday afternoon.
The downgrade is likely to have little to no impact on how the United States finances its borrowing, through the sale of Treasury bonds, bills
and notes. This week's buying proves that.
"Investors have voted and are saying the U.S. is going to pay them," said Mark Zandi, chief economist of Moody's Analytics. "U.S. Treasurys
are still the gold standard." He noted that neither his parent organization, Moody's, nor Fitch, the other of the three major rating agencies, have
downgraded U.S. debt.
The ratings agencies were sharply criticized after the financial crisis in 2008 for not warning investors about the risks of subprime mortgages.
Those mortgages were packaged as securities and sold to investors who lost billions of dollars when the loans went bad.
Japan had its ratings cut a decade ago to AA, and it didn't have much lasting impact. The credit ratings of both Canada and Australia have also
been downgraded over time, without much lasting damage.
"I don't think it's going to amount to a lot," said Peter Morici, a University of Maryland business economist.
Still, he said, "The United States deserves to have this happen," because of its clumsy handling of fiscal policy.
In reacting to the downgrade, Democrats and Republicans continued to blame each other and pledged to hold firm to their principles.
Republican presidential candidates criticized the White House. Rep. Michele Bachmann, R-Minn., called on Obama to fire Treasury Secretary
Timothy Geithner and submit a plan to balance the budget and not just reduce future deficits. Republican candidate Mitt Romney, former
governor of Massachusetts, said the credit downgrade was the "latest casualty" in Obama's failed economic leadership.
House Democratic Leader Nancy Pelosi said the American people will be closely watching the work of the 12-member joint committee that has
been created to produce more than $1 trillion in additional savings over the next decade.
"The work of this committee will affect all Americans, and its deliberations should be open to the press, to the public and webcast," she said.
Senate Democratic Leader Harry Reid said the downgrade underscored the need for a "balanced approach to deficit reduction that combines
spending cuts with revenue-raising measures" such as doing away with tax breaks for the wealthy and oil companies.
AP reporters Tom Raum, David Espo and Julie Pace in Washington and Business Writers Chip Cutter and Pallavi Gogoi in New York
contributed to this report.
Follow Yahoo! Finance on Twitter; become a fan on

Facebook.

06-Aug-2011 1:03 AM

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U.S. Loses AAA Credit Rating from S&P

MARKET SNAPSHOT

By Adam Samson
Published August 05, 2011 | FOXBusiness
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For the first time in history, Standard & Poor's cut


America's top-notch credit rating one notch to AAplus from AAA on Friday night.

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The move comes less than a week after Congress


and the Obama Administration crafted a last-minute
deal to reduce burgeoning government spending
and increase the debt ceiling, narrowly averting a
catastrophic default on U.S. sovereign debt.

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The ratings company, which had previously warned


that a downgrade was possible, cited both political and fiscal concerns in making its decision.
"The downgrade reflects our opinion that the fiscal consolidation plan that Congress and the
Administration recently agreed to falls short of what ... would be necessary to stabilize the government's
medium-term debt dynamics," S&P said in a statement.
Indeed, a scoring by the Congressional Budget Office said the bill that President Barack Obama signed
into law on Aug. 2 would save roughly $2.1 trillion over the next decade -- far short of the $4 trillion "down
payment" S&P had previously called for.
The heated debate on Capitol Hill and in the halls of the White House stalled repeatedly during months of
negotiations, leading S&P to question the "effectiveness, stability, and predictability of American
policymaking."
The ratings company said its long-term outlook is negative, noting it may reduce the rating another notch
over the next two years if spending cuts fall short of expectations, interest rates increase, or if the public
debt climbs more quickly than forecast.
Moody's Investor Service affirmed the country's pristine rating, while Fitch is still performing a review that it
plans to complete by the end of the month.

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China tells U.S. "good old days" of borrowing are over - Yahoo! Finance

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On Saturday August 6, 2011, 10:23 am

By Walter Brandimarte and Melanie Lee


NEW YORK/SHANGHAI (Reuters) - China bluntly criticized the United States on Saturday one day after the superpower's credit rating was
downgraded, saying the "good old days" of borrowing were over.
Standard & Poor's cut the U.S. long-term credit rating from top-tier AAA by a notch to AA-plus on Friday over concerns about the nation's
budget deficits and climbing debt burden.
China -- the United States' biggest creditor -- said Washington only had itself to blame for its plight and called for a new stable global reserve
currency.
"The U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its
own making are finally gone," China's official Xinhua news agency said in a commentary.
After a week which saw $2.5 trillion wiped off global markets, the move deepened investors' concerns of an impending recession in the United
States and over the euro zone crisis.
Finance ministers and central bankers of the Group of Seven major industrialized nations will confer by telephone later on Saturday or on
Sunday, a senior European diplomatic source said.
The source said the credit rating downgrade had added a global dimension on top of the euro zone debt issue, raising the need for international
coordination.

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"The G7 will confer by telephone. It's not yet confirmed whether it will be in one stage or in two stages, tonight and tomorrow," the source
said.
French Finance Minister Francois Baroin, who would chair such a meeting under France's G7 and G20 presidency, said it was too early to say
whether there would be an early G7 gathering.
In the Xinhua commentary, China scorned the United States for its "debt addiction" and "short sighted" political wrangling.
"China, the largest creditor of the world's sole superpower, has every right now to demand the United States address its structural debt problems
and ensure the safety of China's dollar assets," it said.
It urged the United States to cut military and social welfare expenditure. Further credit downgrades would very likely undermine the world
economic recovery and trigger new rounds of financial turmoil, it said.
"International supervision over the issue of U.S. dollars should be introduced and a new, stable and secured global reserve currency may also be
an option to avert a catastrophe caused by any single country," Xinhua said.
In Washington, President Barack Obama urged lawmakers on Saturday to set aside partisan politics after the debt battle, saying they must work
to put the United States' fiscal house in order and refocus on stimulating its stagnant economy.
S&P blamed the downgrade in part on the political gridlock in Washington, saying politics was preventing the United States from addressing its
deficit and debt problems.
Obama called on Congress to back measures to give tax relief to the middle class, extend jobless benefits and pass long-delayed international
trade pacts.
"Both parties are going to have to work together on a larger plan to get our nation's finances in order," he said.
"In the long term, the health of our economy depends on it...in the short term, our urgent mission has to be getting this economy growing faster
and creating jobs."
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In contrast to the Chinese criticism, France's Baroin said France had faith in the United States' ability to get out of this "difficult period."
Friday's U.S. unemployment numbers were better than expected and so things were heading in the right direction, he said.
"Therefore, one should not dramatise, one needs to remain cool-headed, one should look at the fundamentals," he told France's iTele.
While the impact of the rating cut on financial markets when they reopen on Monday may be modest because the decision was expected, the
shift may have a long-term impact for U.S. standing in the world, the dollar's status, and the global financial system.
"I think even if it was half-expected, the consequence will be far reaching," said Ciaran O'Hagan, fixed income strategist at Societe Generale in
Paris.
"It will weigh on secure assets. The bigger reaction will be on risky assets, including equities and on agencies (Freddie Mac, Fannie Mae) and
states backed directly by the federal government."
But he added: "U.S. Treasuries will remain a benchmark. This is a ship which takes a long time to turn around."
Norbert Barthle, a budget expert for German Chancellor Angela Merkel's conservatives said the downgrade would certainly provoke further
turbulence in markets.
"I'm not surprised about the U.S. rating downgrade, rather I am astonished that for weeks, international rating agencies have focused their
attention on the European debt situation but not the American one. For a while, there have been clear worries about America's economic woes
but also the fact the U.S. is heavily indebted."
NO EARLY ITALIAN ELECTION
In Europe, Italian Prime Minister Silvio Berlusconi on Saturday ruled out calling early elections to stem market panic that has pounded Italian
assets and forced his government to bring forward austerity measures.
Italy buckled on Friday to world pressure by pledging to bring forward cuts to balance the budget in 2013 in return for European Central Bank
help with funding.
European policy makers are concerned that a debt emergency in the euro zone's third largest economy could completely overwhelm bailout

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mechanisms set up to help smaller troubled countries like Greece or Ireland.


Italy is due to go to the polls in 2013 but Berlusconi dismissed any suggestion of emulating Spain, where Prime Minister Jose Luis Rodriguez
Zapatero has called an early election to tackle the crisis.
"This has absolutely not been talked about," Berlusconi told reporters. "This has never been an option."
The European Union's top economic official praised Italy's decision to accelerate budget-balancing measures and structural economic reforms
and said swift implementation was now crucial.
"I strongly support this announcement and call on the authorities to quickly translate it into concrete measures," European Economic and
Monetary Affairs Commissioner Olli Rehn told Reuters in a telephone interview.
"This will help to boost potential growth, secure budgetary retrenchment and bolster market confidence," Rehn said.
The European Central Bank sources said the bank remains divided over whether to buy Italian government bonds but even some of those who
favor the move say Italy should do more to front-load austerity measures.
Two sources said they expected ECB President Jean-Claude Trichet to hold a teleconference of the bank's policy-setting Governing Council
over the weekend to discuss how to respond to turmoil in financial markets and Italy's latest measures.
China and Japan have called for coordinated action to avert a new worldwide financial crisis. India's finance minister Pranab Mukherjee told
reporters: "There is no need to unnecessarily press the panic button."
(Additional reporting by Reuters bureaux; Writing by Angus MacSwan)
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06-Aug-2011 11:23 AM

Dow plunges more than 600 points after downgrade - Yahoo! Finance http://finance.yahoo.com/news/Wall-St-takes-a-dive-on-first-apf-1...

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Stocks plunge after S&P downgrade; Dow down 634; Europe, economy fears send Treasurys, gold up

Stan Choe, AP Business Writer, On Monday August 8, 2011, 4:57 pm

NEW YORK (AP) -- Stocks plunged Monday as anxiety overtook investors on the first trading day since Standard & Poor's downgraded
American debt.
The Dow Jones industrials fell 634.76 points. It was the sixth worst point decline for the Dow in the last 112 years and the worst one-day drop
since December 2008. Every stock in the Standard & Poor's 500 index declined Monday.
Investors worried about the slowing U.S. economy, escalating debt problems threatening Europe and the prospect that fear in the markets
would reinforce itself, as it did during the financial crisis in the fall of 2008.
"`What's rocking the market is a growth scare," said Kathleen Gaffney, co-manager of the $20 billion Loomis Sayles bond fund. "The market is
under a lot of stress that really has little to do with the downgrade." Instead, Gaffney said, investors are focused on "how Europe and the U.S.
are going to work their way out of a high debt burden" if economic growth remains slow.
Investors desperately looked for safe places to put their money and settled on U.S. government debt -- even though it was the target of the
downgrade Friday, when S&P removed the United States from its list of the lowest-risk countries.
The price of Treasurys rose sharply, and yields, which move in the opposite direction from price, fell. The yield on the 10-year Treasury note
fell to 2.34 percent from 2.57 percent Friday. That matches its low for the year, reached last week.
"This is largely a flight to safety," said Thomas Simons, money market economist with Jefferies & Co. "The bond market is really trading off of
what's going on in the stock market." Money flowed out of stocks and into Treasurys.
Gold set a record. It rose $61.40 to settle at $1,713.20.
Crude oil, natural gas and other commodities fell sharply on worries that a weaker global economy will mean less demand. Oil fell 6.4 percent
to settle at $81.31 per barrel.
Fear is spreading quickly through the market, said Dimitre Genov, senior portfolio manager with Artio Global Investors. "It's becoming a
vicious cycle and could feed into consumers reducing their demand as well."
The Dow was down 5.5 percent a 10,809.85. The sharp drop extended Wall Street's almost uninterrupted decline since late July, when the Dow
was flirting with 13,000. It fell below 11,000 for the first time since November.
The S&P 500 fell 79.92, or 6.7 percent, to 1,119.49. The Nasdaq composite index fell 174.72, or 6.9 percent, to 2,357.69.
Stock markets in Asia began Monday's global rout. The main stock index fell almost 4 percent in South Korea and more than 2 percent in
Japan. European markets opened later and fell, too, with Germany down 5 percent and France 4.7 percent.
In the U.S., stocks fell even as Moody's, another major credit rating agency, stood by its top rating of Aaa for the United States. It said it could
downgrade the U.S. if it doesn't cut its deficit, "but it is early to conclude that such measures will not be forthcoming."
Financial markets also did not appear comforted by an afternoon statement by President Barack Obama, who said Washington needs more
"common sense and compromise" to tame its debt.
"Markets will rise and fall," he said. "But this is the United States of America. No matter what some agency may say, we've always been and
always will be a triple-A country."
S&P, in its downgrade, criticized dysfunction in the American political system. The downgrade wasn't a total surprise but came when investors

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were already feeling nervous about the U.S. economy and European debt, among other problems.
Last week, the Dow Jones industrial average fell almost 700 points. That was its biggest weekly point loss since October 2008, during the
financial crisis. Counting Monday, the Dow has dropped in 10 of the last 12 trading days. It is down more than 1,900 points, or 15 percent,
since July 21.
The Russell 2000 index of small stocks has now lost nearly 25 percent from its most recent high on April 29. A decline of 10 percent or more
off recent highs is considered to be a correction. But a drop of 20 percent or more is said to be the start of a bear market.
The Nasdaq and S&P 500 are both down about 18 percent since the end of April. The Dow is down 16 percent.
The last bear market for the S&P 500 ran from October 2007 until March 2009. The index lost 57 percent of its value during the downturn.
S&P on Monday downgraded mortgage lenders Fannie Mae, Freddie Mac and other agencies linked to long-term U.S. debt. Fannie and Freddie
own or guarantee about half of all U.S. mortgages. Their downgrade could eventually mean higher mortgage rates.
Worries about weaker profits that could result from a slowing economy have slammed the financial industry since late July. As a group,
financial stocks in the S&P 500 index fell 10 percent on Monday to their lowest level since July 2009.
Bank of America plunged 20.3 percent, to $6.51, after AIG filed suit against the bank. The insurer alleged Bank of America sold it overvalued
mortgage-backed securities. The bank denied the allegations. Its stock is down 51 percent this year, from $13.34.
Stocks in other industries whose profits are closely tied to the strength of the economy also fell sharply. Energy stocks in the S&P 500 fell 8.3
percent, for example.
The smallest losses came in safer industries such as consumer staples whose profits tend to be steadier, regardless of the economy. Even in a
bad economy people will still buy things like toothpaste and bread.
The Vix index, a measure of fear among investors, shot up 47 percent to its highest level since May 2010. The index shows how worried
investors are that the S&P 500 will drop over the next 30 days. It does this by measuring prices for stock options that investors can buy to help
protect their portfolios.
Investors are also worried that Italy or Spain could become the next European countries to have trouble repaying its debts. Greece, Ireland and
Portugal have already received bailout loans because of Europe's 21-month-old debt crisis.
The fears have pushed investors to shun Spanish and Italian bonds, which led to higher yields on the bonds. That resulted in even higher
borrowing costs for the countries.
The European Central Bank stepped in Monday and bought bullions of euros worth of their bonds. The move helped to lower yields on Spanish
and Italian bonds, at least temporarily.
Seeking to avert panic spreading across financial markets, the finance ministers and central bankers of the Group of 20 industrial and
developing nations issued a joint statement Monday saying they were committed to taking all necessary measures to support financial stability
and growth.
"We will remain in close contact throughout the coming weeks and cooperate as appropriate, ready to take action to ensure financial stability
and liquidity in financial markets," they said.
Worries about the U.S. economic recovery have been building since the government said that economic growth was far weaker in the first half
of 2011 than economists expected.
The economy grew at a 1.3 percent annual rate from April through June, below economists' expectations. It expanded at just a 0.4 percent rate
in the first quarter. The first half of 2011 was the slowest since the end of the recession.
Then reports showed that the manufacturing and services industries barely grew in July. Job growth was better than economists expected last
month. But the 117,000 jobs created in July were still well below the 215,000 that employers added in February, March and April, on average.
The Federal Reserve will meet on Tuesday, but economists don't expect much to come out of the meeting. The central bank's key interest rate is
already at a record of nearly zero, where it has been since 2008.

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The Fed has also already said that it plans to keep rates low for "an extended period." Chairman Ben Bernanke said last month that the Fed
could step in to help the economy if it further weakened.
Fears about a weaker U.S. economy have overshadowed the profit growth that companies have reported for the second quarter. For the 441
companies in the S&P 500 that have already reported, earnings rose 12 percent in the second quarter from a year earlier. Revenue growth has
also topped 10 percent for the first time in a year.
Verizon Communications Inc. fell 3.9 percent after it was unable to come to terms with 45,000 workers on health care costs, pensions and other
issues.
More than 69 stocks fell for every one that rose on the New York Stock Exchange. Consolidated trading volume was heavy at 9.7 billion
shares, nearly triple the volume in early July.
AP Business Writers Matthew Craft, David K. Randall and Daniel Wagner contributed to this report.
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By Ryan Vlastelica | Reuters 1 hr 1 min ago

NEW YORK (Reuters) - U.S. stocks plunged on Monday, taking the S&P 500 down more than 6
percent on growing fears of a recession, exacerbated by the loss of the country's pristine triple-A
credit rating.
Panicked selling on heavy volume resulted in the S&P 500's worst day since December 2008, with
every stock in the benchmark index ending in negative territory.
"We're starting to see real disorderly selling, far more than what we've been seeing," said Matthew
Peron, head of active equities at the Chicago-based Northern Trust, which has about $650 billion
in assets under management.
Based on the surge in the VIX, he added, "We're starting to move into panic mode."
Perceptions that Washington is incapable of addressing the problems of rising debt and slowing
growth have contributed to the selling. This was underlined by selling that picked up during a
statement from President Barack Obama that offered few concrete ways to resolve the fiscal and
economic problems.
The anxiety about the U.S. economy was matched by rising worries about Europe's debt problems,
where the latest initiative to buy Italian and Spanish bonds is far from enough to solve the euro
zone's debt crisis.
The CBOE Volatility Index, Wall Street's "fear gauge," jumped 50 percent to end at 48. This
marked the first time the VIX has topped 40 since May 2010, when the "flash crash" occurred.

08-Aug-2011 5:45 PM

Wall Street sinks as fear jumps after historic downgrade - Yahoo!...

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The S&P 500 is down 17.9 percent from its 2011 closing high, reached on April 29 -- putting it
close to the 20 percent decline from a recent peak that Wall Street defines as bear market territory.
Monday's slide marked the first time since November that the Dow has fallen below 11,000. "It is a
panic, and almost by definition, it doesn't have an issue. It wouldn't matter what it was," said
James Paulsen, chief investment strategist at Wells Capital Management in Minneapolis, which
has over $340 billion in assets under management.
The Dow Jones industrial average lost 634.76 points, or 5.55 percent, to end at 10,809.85. The
Standard & Poor's 500 Index sank 79.92 points, or 6.66 percent, at 1,119.46. The Nasdaq
Composite Index plunged 174.72 points, or 6.90 percent, to close at 2,357.69.
Volume was extremely heavy, with 17.5 billion shares traded on the New York Stock Exchange, the
American Stock Exchange and Nasdaq, sharply above last year's daily average of 8.47 billion.
While all 10 S&P sectors lost more than 3.5 percent, the groups most sensitive to the economy,
such as banking and commodities, were the hardest hit. The S&P financial index lost 10 percent
while the S&P energy index lost 8.3 percent. U.S. crude oil futures slumped 7.3 percent.
Bank of America Corp plummeted 20.3 percent to $6.51. The Dow component was the most
actively traded name on the New York Stock Exchange and the S&P 500's biggest loser.

Click graphic for an explanation of what happened in the markets today.


(REUTERS/Graphic)

Monday's global stock market sell-off wiped out more than $1.35 trillion in investor wealth
worldwide, according to the 5.2 percent drop in the MSCI World Index . The index entered the
week with a value of $26.42 trillion.
The S&P 500 alone lost $729.3 billion in value with its drop for the day of 6.66 percent.
Late on Friday after the market's close, S&P cut the United States' perfect long-term credit rating
of AAA by one notch to AA-plus on concerns about debt levels in the world's largest economy. The

08-Aug-2011 5:45 PM

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downgrade could eventually raise borrowing costs for the U.S. government and companies, as well
as for consumers.
On Monday, President Obama blamed the downgrade on political gridlock in Washington and said
he would offer some recommendations on how to reduce federal deficits.
"Investors wanted more specifics from Obama, but I don't know if that's reasonable right now,"
Peron said. "When we see a credible policy response, that's when we could see a bottom."
Traders also cited expected redemptions and margin calls for the sharp early afternoon declines.
"We saw a lot of short selling coming in, especially into ETFs at around 2:15" p.m. said Glenn
Starkman, global head of Sales Trading at Dahlman Rose in New York.
About 66 stocks fell for every one that rose on the New York Stock Exchange, while on the Nasdaq,
22 stocks fell for every one that rose.
Even the European Central Bank's dramatic intervention in bond markets, which pushed down
yields on Spanish and Italian bonds, was not enough to stem selling.
GETTING CLOSE TO A BOTTOM?
But some analysts noted the mass selling has made some stocks attractive at much lower prices.
"Based on historical sell-offs, it wouldn't be surprising to see a rebound in the more oversold areas,
given how far down we've come and how fast," said Brad Sorensen, director of market and sector
analysis at Charles Schwab in Denver.
Barclays Capital, in a note to clients, wrote that the decline created a "time to buy," and that the
recent losses "left equity valuations at levels of cheapness not seen since the early 1980s.
"I've been in this business almost 30 years. When it gets to the point where you want to throw up,
it's probably time to buy, and we're there," said Angel Mata, managing director of listed equity
trading at Stifel Nicolaus Capital Markets in Baltimore.
(Reporting by Ryan Vlastelica; Additional reporting by Chuck Mikolajczak; Editing by Jan
Paschal)

(c) Copyright Thomson Reuters 2011. Check for restrictions at: http://about.reuters.com/fulllegal.asp
Copyright 2011 Yahoo! Inc. All rights reserved. | Yahoo! News Network | /

08-Aug-2011 5:45 PM

AIG sues Bank of America for $10.5 billion - The Economic Times

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8 AUG, 2011, 11.21PM IST, AFP

AIG sues Bank of America for $10.5 billion


Story

Read more on US | mortgage debt | Fraud | Bank of America Corp | AIG

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NEW YORK: US insurer AIG sued Bank of America for


$10.5 billion on Monday, accusing it of "massive fraud"
over its peddling of dodgy mortgage-based securities
that sparked the 2008 financial crisis.
Bank of America grossly misrepresented the quality of
more than $28 billion of residential mortgage-backed
securities (RMBS) it sold AIG between 2005 and 2007,
AIG alleged in its lawsuit, filed in a New York court.

more

People in News

AIG said that it was seeking to recover $10.5 billion in


losses, which were ultimately borne by US taxpayers
after the insurance giant was bailed out during the
2008 crash.
As the market for mortgage-backed securities
collapsed, AIG was rescued with $180 billion from the
US government, which remains its largest shareholder.
EDITORS PICK
AIG to sue Bank of America over mortgage
bonds: NY Times
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challenged

"Bank of America's fraud caused billions of dollars in


damage to AIG and we are bringing this suit today to
protect AIG and the taxpayers' stake in it," said Mark
Herr, a spokesman for AIG.
Bank of America's stock plunged after the lawsuit was
announced. Its shares were down 14.6 percent by
midday on Monday, much more than other banking
stocks amid a global market sell-off.
Lawrence Grayson, a spokesman for the bank, rejected
AIG's allegations, saying the insurer could only blame
itself for bad investment choices.
"AIG recklessly chased high yields and profits
throughout the mortgage and structured finance
markets," he said.

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1 S&P downgrade US credit rating: America in wo...

Many of the faulty mortgages which caused AIG's losses were originated by Countrywide Financial, a leading
subprime mortgage lender which was acquired by Bank of America in early 2008.

2 Recession 2011: No double-dip recession; US t...

In its nearly 200-page lawsuit against Bank of America, AIG detailed how Countrywide approved mortgages to
high-risk borrowers, allegedly falsifying documents and concealing risks as it resold the loans.

4 America has big problems, but no reason to ta...

3 Recession 2011: What happened to Barack


Obama...

5 Recession 2011: No US double-dip recession, E...

"Driven by a single-minded desire to increase their share of the lucrative RMBS market and the considerable
fees generated by it, defendants created and marketed RMBS backed by hundreds of thousands of defective
mortgages," AIG said in its lawsuit.

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"The offering materials used to sell the RMBS fraudulently misrepresented and concealed the actual credit
quality of the mortgages by providing false quantitative data about the loans."

How to tell when a recession is


at America's door

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In June, Bank of America announced an $8.5 billion settlement with a group of more than 20 major investors

Experts wiev on thresholds to be met


for sounding a recession alarm in the

08-Aug-2011 5:54 PM

AIG sues Bank of America for $10.5 billion - The Economic Times

2 of 3

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over losses on mortgage-backed securities, in an attempt to close the door on its disastrous acquisition of
Countrywide.

US

On Monday, though, AIG said that Bank of America's settlement did not affect its plans for the $10.5 billion
lawsuit, since that settlement did not cover claims for fraud and securities violations.
AIG also warned that its lawsuit against Bank of America will not likely be its last lawsuit "against counterparties
that have sought to profit at our expense."

1/3

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"As AIG has said in the past, we are looking carefully at what counterparties and others have done to AIG, and
we intend to take legal action against those who have harmed us," it said.

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PTI

PTI Brokers at Bombay Stock Exchange in Mumbai. File photo

The BSE benchmark Sensex today fell for the sixth day and closed 132.27 points down to below the 17,000 mark in
volatile trade as investors sold blue-chips, especially IT stocks, amid a rout in global equities.
A sharp jump in Chinese inflation to more than three years high further spooked the equities market.
The Bombay Stock Exchange key index fluctuated over 703 points intraday before closing at 16,857.91, a level last
witnessed in June last year.
The 30-share index, which had lost 1,322 points in last five sessions, had regained 17,000 points level at midway on
covering of short positions, but global equities sell-off on fears that political leaders were failing to tackle the U.S. and
Europe debt crises pulled down the market.
Software services exporters led by industry bellwether Infosys and largest Indian IT company TCS fell the most,
contributing the most to the Sensex fall. Infosys dropped by Rs. 90.90 to Rs. 2,377.10 and Tata Consultancy by Rs. 42
to Rs. 967.25 a piece.
Industry leader RIL also fell by nearly two per cent.
Broad-based National Stock Exchange index Nifty ended 45.65 points lower at 5,072.85 after touching the days high of
5,167.
Market sentiment remained bearish as Asian stock markets tumbled nearly six per cent and European stocks opened
lower as.
Investors were jittery as the U.S. markets tumbled by 6 per cent last night, the lowest since October 2008.
Keywords: Sensex, markets, BSE

09-Aug-2011 8:44 AM

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On Wednesday August 10, 2011, 5:21 pm

By Rodrigo Campos
NEW YORK (Reuters) - Fear returned to Wall Street on Wednesday, sending the S&P 500 to another 4 percent decline, triggered by worries
that Europe's debt crisis could engulf French banks and spill onto the U.S. financial sector.
Trading was once again marked by sharp moves on heavy volume. For a fifth straight day, the Dow industrials fluctuated in a range of more
than 400 points.
"What you're seeing is a very short-term, direction-oriented market," said Eric Kuby, chief investment officer of North Star Investment
Management Corp in Chicago.
Worries about the strength of French lenders, including Societe Generale, triggered a selloff in European and U.S. banks. Rumors about
SocGen's financial health, which the bank denied, sent its shares tumbling 14.7 percent.
An index of European banks dropped 6.7 percent and the KBW index of U.S. bank stocks slid 4.9 percent as fear grew of a possible contagion
of any French crisis. Bank of America Corp lost 10.9 percent to $6.77 and Goldman Sachs slid more than 10 percent to $110.34.
The Dow Jones industrial average slid 520.29 points, or 4.63 percent, to 10,719.48. The S&P 500 fell 51.81 points, or 4.42 percent, to 1,120.72.
The Nasdaq Composite dropped 101.47 points, or 4.09 percent, to 2,381.05.
Wednesday's drop came a day after stocks rallied on the Federal Reserve's pledge to keep interest rates near zero for at least two more years.
Even after Tuesday's snap-back rally, the S&P 500 is down almost 18 percent from its 2011 closing high set April 29.
The losses came against the backdrop of recent weak U.S. economic data, the United States losing its triple-A credit rating from Standard &
Poor's and the inability of lawmakers to address worries that another recession may be on the way.
About 15 billion shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq, almost double the year's estimated daily average of
7.8 billion.
Volume once again spiked in the last hour of trading, and the market closed near its session lows. Of late, overleveraged investors with losses
on their books have been forced to sell shares near the end of the day.
"Between 3 and 3:20 (p.m.) you have people getting margin calls, and on days like today there's some nervousness about what those calls will
look like," said Andrew Frankel, co-president of Stuart Frankel & Co in New York, referring to the volatility of the final hour of trading.
Slides in the value of stocks may increase the cash needed in margin accounts, which can spark further selling.
Dow component Walt Disney Co dropped 9.1 percent to $31.54 a day after the entertainment company's quarterly results failed to reassure
investors that it could do well in a weak U.S. economy.
After the closing bell, Cisco Systems Inc's shares jumped nearly 12 percent after its quarterly results edged past Wall Street's scaled-back
expectations.
Declining stocks outnumbered advancing ones during the regular session on the NYSE by a ratio of more than 8 to 3, while on the Nasdaq,
almost five stocks fell for every one that rose.
(Reporting by Rodrigo Campos; Editing by Kenneth Barry)

10-Aug-2011 5:43 PM

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Wall Street closed out a chaotic trading session at the lows of the day, extending a global rout that was
ignited by weakening economic prospects and burgeoning fears over Europe's financial system.

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The Dow Jones Industrial Average fell 173 points, or 1.6%, to 10,818, the S&P 500 dipped 17.1 points, or
1.5%, to 1,124 and the Nasdaq Composite slipped 38.6 points, or 1.6%, to 2,342. The FOX 50 shed 13.8
points to 814.

Red Ink Week

Google

Dow Jones

Apple

Wall Street

Job Losses

Hewlett-Packard (HPQ: 23.60, -6.58, -21.80%) was a huge drag on the Dow
on Friday, plunging 20% to a 6-year low after announcing a major restructuring
in which it is mulling spinning off its personal computer business.
However, the selloff broadened toward the end of the trading session:
Caterpillar (CAT: 79.97, -3.36, -4.03%) and IBM (IBM: 157.54, -6.29, -3.84%)
took steep losses as well. Meanwhile, McDonald's (MCD: 87.23, +1.62,
+1.89%) and Wal-Mart (WMT: 52.30, +0.51, +0.98%) were by far the bestperforming components of the Dow.
This selling comes on the heels of the Dow shedding 420 points, or $120 billion
in market capitalization, on Thursday after a dismal manufacturing report and a
slew of gloomy headlines regarding Europe's banking system worried traders.
For the week the blue chips tumbled 4%, the S&P 500 lost 4.7% and the
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On the economic front, JPMorgan joined Morgan Stanley and Goldman Sachs
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With no major economic data releases slated for release on Friday, traders
paid particularly close attention to headlines from Europe.
Austria, the Netherlands and Slovakia requested collateral for loans made as
part of Greece's second bailout package, which is worth $154 billion, and has
kept the Mediterranean nation from having to default on its debt. Finland struck
a deal with Greece for collateral earlier this week.

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The move, according to Ben Critchley, a trader at IG Index, has led market
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risk in the marketplace.
The Greek government is internally forecasting a bigger-than-expected
contraction to economic growth, according to a report by Dow Jones, citing
sources. The wider contraction will push the country's deficit higher, according
to the report, which may pose add to economic and fiscal woes.
There have also been mounting worries over the capital position of European
banks. The Wall Street Journal reported on Thursday the Federal Reserve is
concerned about European bank issues spilling over into the U.S. There were
also reports that the European Central Bank lent an undisclosed bank $500
million, possibly signaling a funding crunch for that bank.

FBNs Ray Hennessey


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The question of specifically which banks will need additional capital is "under
the microscope" and a major market concern, according to Peter Boockvar,
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Energy Markets Mixed, Dollar Down


Energy markets were in the green after a rout in the prior session.
Light, sweet crude fell 12 cents, or 0.15%, to $82.26 a barrel. Wholesale
RBOB gasoline jumped 6 cents, or 2.1%, to $2.84 a gallon.

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Moodys Chief Economist John
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In currencies, the euro gained 0.43% on the U.S. dollar, while the greenback
slumped 0.33% against a basket of world currencies.
Prices at the pump were stable overnight. A gallon of regular costs $3.59 on
average nationwide, down from $3.68 last month, but well higher than the
$2.73 drivers paid last year.
Corporate News
Bank of America (BAC: 6.97, -0.04, -0.57%) is slashing 3,500 jobs, according
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Foreign Markets
The English FTSE 100 fell 1% to 5,041, the French CAC 40 tumbled 1.9% to
3,017 and the German DAX slid 2.2% to 5,480.
In Asia, the Japanese Nikkei 225 slid 2.5% to 8,719 and the Chinese Hang
Seng skidded 3.1% to 19,400.

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Wall Street sustained deep losses to cap
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The euro zone debt crisis has been a major focus on Wall Street on fears that
severe weakness in the financial system there may spillover to companies
across the Atlantic. In fact, the markets have been particularly affected by
even small developments and setbacks there.
Media reports that Germany is preparing to protect European banks from a
potential Greek bailout roiled global markets and added to already gloomy
developments earlier in the session.
European Central Bank Executive Board Member Juergen Stark plans on
resigning by the end of the year once a replacement is found. The ECB says
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There were also discussions among the German and French officials about a
financial transaction tax that would affect all types of instruments including
equities and bonds. The U.K., which houses the region's largest financial
center, has opposed such a move.
The U.S. dollar soared 1.1% against a basket of world currencies to the highest
level since March, while the euro tumbled 1.4% against the
greenback. Meanwhile, the risk aversion trade was back on the table. The
yield on the benchmark 10-year Treasury bond fell briefly to a record low of
1.896% as traders have piled into the shelter of U.S. debt.
Volatility spiked more than 13% as measured by the Chicago Board of Options
Exchange VIX index. Every Dow component was in the red, and only 2% of
S&P 500 issues were higher.

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developments. In particular, companies like Deutsche Bank (DB: 23.08, -1.80,
-7.25%), Barclays (BCS: 9.11, -0.89, -8.90%) and Credit Suisse (CS: 22.86, 1.49, -6.12%) took deep losses. The broad Dow Jones Bank Titans 30 Index,
which tracks 30 major banks across the world, sunk 3.7% recently.
American blue-chip financials fared poorly as well: American Express (AXP:
47.28, -2.25, -4.54%) and JPMorgan Chase (JPM: 32.08, -1.43, -4.27%) took
bigger than 4% cuts. Energy companies like Halliburton (HAL: 39.66, -1.95, 4.69%) were hit hard as well.
Wall Street has been particularly volatile in recent days, making triple-digit
moves for several days in a row. For the week, the Dow crumbled 2.2%, the
broad S&P 500 slid 1.75 and the Nasdaq shed a more modest 0.5%.

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more expensive dollar makes them more expensive to obtain. Light, sweet crude fell $1.81, or 2%, to
$87.24 a barrel. Wholesale RBOB gasoline dipped 11 cents, or 2.1%, to $2.77 a gallon.
Gold rose $2.00, or 0.11%, to $1,860 a troy ounce.
President Barack Obama unveiled his plan to boost the ailing U.S. labor market before a joint session of
Congress on Thursday evening. The plan, which is expected to provide roughly $447 billion in spending
increases and tax cuts, was larger than the $300 billion many analysts had expected.
A key component of the plan is a cut of payroll taxes paid by employees in 2012. The purpose of the cuts,
according to a research note published by Barclays Capital, is to "offer an incentive to employers to either
raise wages or hire new workers." In total, tax cuts will equate to $253 billion of the package, with the other
part made of of spending increases, according to an analysis by economists at Goldman Sachs.
The President, who has yet to lay out the specifics of the plan, said repeatedly it would be paid for by
making other offsets elsewhere. However, analysts that follow developments in Washington have noted
that the plan may be face significant political challenges in a very much divided Congress. In particular,
the spending increases are expected to face a high level of political scrutiny during a time where many
lawmakers believe the country should focus on deficit reduction.
Also on the jobs front, Bank of America (BAC: 6.98, -0.22, -3.06%) is considering slashing as many as
40,000 jobs as part of its restructuring efforts, according to a report by The Wall Street Journal. The
biggest U.S. bank by assets, which has seen its stock plunge 46% this year, has been trying to operate
more efficiently and shed excess costs.
The Federal Reserve has also been a major focus on Wall Street. Federal Reserve Chairman Ben
Bernanke made a speech on Thursday, coming short of suggesting the central bank will provide another
round of quantitative easing, but setting up the case for further easing. The Fed's policymaking board will
have a two-day meeting starting on September 21, in which members of the Federal Open Market
Committee are expected to discuss unconventional methods of quantitative easing.
The Fed is in a challenging position because short-term interest rates, its usual policymaking tool, are
already essentially at 0% -- as low as they can go. Many economists at large investment banks expect the
Fed will reinvest proceeds from short-term bonds on its balance sheets into longer-term assets, a method
of stimulus the central bank has never before used.
The only major economic release on tap for Friday is wholesale inventories. Inventories are expected to
have ticked higher by 0.8% in July, after climbing 0.6% the prior month.
Foreign Markets
The English FTSE 100 fell 2.4% to 5,215, the French CAC 40 slid 3.6% to 2,795 and the German DAX
slumped 4% to 5,190.
In Asia, the Japanese Nikkei 225 dipped 0.63% to 8,738 and the Chinese Hang Seng slipped 0.23% to
19,866.
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http://www.foxbusiness.com/investing/2011/09/09/fridays-selling-frenzy-dow-cr... 09-Sep-2011

The Hindu : Business / Markets : Sensex falls by 298 points, cuts short 3-d...

1 of 1

http://www.thehindu.com/business/markets/article2439298.ece

Business Markets
Sensex falls by 298 points, cuts short 3-day gains
PTI

The Hindu Stock brokers react as they monitor share prices during intraday trade at a brokerage firm, in Mumbai. Snapping th
three-day gaining streak, the the Sensex closed lower by 298.57 points at 16,866.97 points on Friday. File photo: Vivek Bendre

The BSE benchmark Sensex tumbled by over 298 points to close below the 17,000-mark on Friday due to heavy
profit booking by funds, especially in metal and refinery stocks, after the recent rally.
Snapping the three-day gaining streak, the 30share index closed lower by 298.57 points at 16,866.97 points.
During the day trade, the index touched high of 17,211.80 and a low of 16,849.27 points.
The broadbased National Stock Exchange index Nifty lost 93.80 points to 5,059.45, after moving between 5,1
and 5,046.80.
A weak trend in the Asian region and lower opening in Europe before a meeting of Group of Seven rich nations
deepening economic worries influenced the trading sentiments, brokers said.
Foreign investors remained jittery after a speech by the US Fed chief lacked details on plans to spur economic
growth following a jobs package plan by US President Barack Obama last night.
Steelmakers suffered major losses after the ministry lowered its forecast for demand growth.
Refinery stocks led by the most weighted Reliance Industries (RIL) fell on emergence of profit selling.
RIL dropped 3.33 per cent to Rs 825.10 and Infosys by 2.88 per cent to Rs. 2,271.20. Tata Steel lost 3.20 per cen
Rs 476.95.
Other losers in the index kitty were BHEL, HDFC Bank, ICICI Bank, SBI, Larsen and Toubro, Maruti Suzuki, T
Motots, Tata Power, TCS, DLF and Coal India.
Keywords: Sensex close

09-Sep-2011 4:36 PM

The Hindu : Business / Markets : Sensex tumbles 365 points on weak IIP data http://www.thehindu.com/business/markets/article2447156.ece?homepage...

1 of 1

Business Markets
Sensex tumbles 365 points on weak IIP data
PTI

AP The Bombay Stock Exchange barometer Sensex dropped 365.23 points to 16,501.74 on Monday. File photo

The BSE benchmark Sensex on Monday plunged over 365 points on heavy selling triggered by a steep fall in
domestic industrial growth and weak trend in global markets on renewed concerns of euro-zone debt crisis.
The BSE 30-share barometer dropped 365.23 points, or 2.17 per cent to 16,501.74, with all sectoral indices fallin
up to 3.43 per cent. It touched the days low of 16,393.04.
The broad-based National Stock Exchange index Nifty dropped below the 5,000 level, losing 112.65 or 2.23 per
to 4,946.80. Intra-day it dipped to 4,911.25.
Trading sentiment turned bearish as the countrys industrial growth fell to a meagre 3.3 per cent in July as aga
9.9 per cent in the same month last year.
Asian markets also slumped on renewed concerns that Greece would default on its debt repayments amid a war
from Germany, on top of ongoing debt crisis in other euro-zone nations. Big losses in Europe and the U.S. have
fuelled the selling pressure among foreign investors, brokers said.
Barring three Cipla, Sun Pharma and Hindustan Unilever all the index-kitty stocks ended with losses. Maj
losers were stocks of Tata Motors, Reliance Industries, Infosys, Bajaj Auto, Maruti Suzuki, BHEL, ICICI Bank,
Larsen and Toubro, Tata Steel, TCS and Wirro.
Besides industrial stocks, the banking sector was under pressure on fears of more hike in interest rate by the
Reserve Bank in its policy review on September 16 to tame rising inflation. The bank has increased rates 11 time
since March, 2010, making loans costly for industry as well as consumers.
Steelmakers declined for the second straight session on forecast that demand this fiscal may grow at a slower p
Keywords: BSE, Sensex, NSE, Nifty

12-Sep-2011 9:04 AM

The Hindu : Business / Markets : Sensex suffers biggest loss in 26 months,... http://www.thehindu.com/business/markets/article2476134.ece?homepage...

1 of 1

Business Markets
Sensex suffers biggest loss in 26 months, plunges 704 points
PTI

The Hindu The selling pressure gathered momentum as the Federal Reserve cited risks to the U.S. economy amid ongoing d
troubles in the euro zone nations and continuing depreciation of the rupee. Image shows a stock broker reacting as she watch
share prices in Mumbai. Photo: Paul Noronha

The BSE Sensex on Thursday suffered the biggest plunge in over 26 months, nosediving 704 points on heavy
sell-offs mirroring losses worldwide after the U.S. Fed cited risks to the U.S. economy, and the rupee fell furt
two-year lows.
The 30-share BSE benchmark index tank 704 points or 4.13 per cent to 16,361.15 biggest one day dip after Ju
2009 as Asian markets tanked and European markets opened lower by up to 4 per cent.
Similarly, the broad-based NSE index Nifty melt down by 209.60, or 4.08 per cent to 4,923.65.
Funds pulled out of risky assets amid concerns of slowing global economy after the U.S. Federal Reserve
disappointed investors with its stimulus plan, while warning of serious downside risks to growth amid severe e
zone debt crisis.
Back home, the rupee fell to fresh 2-year low against the U.S. dollar to Rs. 49.20 in intra-day trade weakest le
since July 13, 2009.
The most heaviest on the Sensex, Reliance Industries fell 6.16 per cent, followed by the second heaviest Infosys
3.28 per cent.
The Hong Kongs Heng Seng dropped 4.85 per cent, Japans Nikkei by 2.07 per cent, Indonesias index by 8.88
cent.
Markets fell more than 3 per cent in Taiwan, Russia and Poland. The European indices, led by Londons FTSE
plunged 4.55 per cent, followed by Paris 4.65 per cent in early trade.
The selling pressure was so strong that even a fall in food inflation to 8.84 per cent for week ended September 1
from 9.47 per cent in the previous week, failed to check the downfall.
Keywords: Sensex, share market, stock market

22-Sep-2011 9:41 AM

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MARKET UPDATES - INVESTING

Another Nightmarish Day: Economic Gloom Incites


Dow's Worst 2-Day Plunge Since '08

MARKET SNAPSHOT
U.S.

By Adam Samson
Published September 22, 2011 | FOXBusiness
Print

Email

Share

Recom m end

Europe
DJIA

124

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Asia

1 day

10,733.83

-391.01

Nasdaq

2,455.67

-82.52

S&P 500

1,129.56

-37.20

825.54

-24.77

FOX 50

FOX Business: The Power to Prosper


The Fed's gloomy economic outlook,
coupled with apprehension that little can
be done to keep the global economy
from skidding into another recession,
sent market participants ditching risky
assets and fleeing into Treasuries in the
worst two-day plunge since the financial
crisis in 2008.
Reuters

CEOs

Inflation

Job Losses

White House

Interest Rate

Regulation Nation

Going Green

Bailout Bill

European Debt
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10

Societe Generale

Today's Markets

The Dow Jones Industrial Average


tumbled 391 points, or 3.5%, to 10,734, the S&P 500 fell 37.2 points, or 3.2%, to 1,1230 and the Nasdaq
Composite plunged 82.5 points, or 3.3%, 2,456. The FOX 50 shed 24.8 points to 826.
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The selloff was broad: more than a quarter of S&P 500 components touched 52
-week lows. Volatility, as measured by the VIX, spiked 11%. In a sign of the
conviction of the selling, volume was at the highest level since early August.

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With global markets and U.S. equities in selloff mode, Treasury prices rallied,
shoving yields down. The yield on the 10-year Treasury sunk to 1.726% from
1.868% -- briefly touching a record low multiple times during the session.
Stocks Plunge After Fed
Assessment

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Overall, the blue chips have shed close to 700 points, or 6.1% in two trading
days. The broader indexes have performed poorly as well: the S&P 500 has
shaved 6.2% and the Nasdaq has lost 6%.
While every major sector was down, materials and energy stocks took the
biggest beating. Mining giant Freeport-McMoRan Copper (FCX: 32.14, -3.45,
-9.69%) was recently nearly 9.7% to the downside, while explorationtechnology firm Schlumberger (SLB: 61.22, -3.93, -6.03%) shed more than
6%.

RELATED VIDEO

The Federal Reserve moved to lengthen the maturity of its balance sheet, an
indirect bid to stimulate the economy, at its meeting that concluded on
Wednesday as was widely anticipated. The $400 billion scope of the "twist"
from short-term to longer-term Treasuries was, however, modestly broader
than many economists had been anticipating, according to a research note
from Goldman Sachs.

Fear About World


Economy Sends Markets
Lower

However, the Dow plunged 284 points in less than two hours after the decision
that was dubbed "Operation Twist" was announced, in a sign that many market
participants are wary that the central bank won't be able to reinvigorate a
stalling economy.
"A downbeat outlook for the economy combined with the so-called Operation
Twist economic stimulus not going far enough in many peoples eyes," David

http://www.foxbusiness.com/investing/2011/09/22/another-nightmarish-day-ec... 22-Sep-2011

Page 2 of 4

RELATED STORIES
Weekly Jobless Claims Fall
to 423,000
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Take a Look: 'Operation
Twist,' Global Rout
Pummel 10-Year Treasury
Yield

Jones, chief market strategist at IG Index, a London-based trading firm, wrote


in a research note.
'Legitimate Fears'
Weekly claims for unemployment benefits fell to 423,000 last week from a
revised 432,000, higher than the 420,000 economists forecast. The number of
initial jobless claims have been hovering about the 400,000-mark for weeks -yet another sign of struggles in the jobs market, a crucial component of broader

growth.
Adding to the malaise on Thursday was data from the euro zone and China pointing to continued
contraction in manufacturing in both major global economies.
"The monetary measures (unveiled by the Fed), along with Obamas fiscal package announced earlier this
month ... could kick-start the economy," Gavan Nolan, director of credit research at Markit, a risk analysis
firm, wrote in a research note.
"But there is a legitimate fear that both monetary and fiscal policy has been too timid and the new
measures will be ineffectual."
Buying Opportunities
While global economic and financial concerns have ruled the day in the past two sessions, some analysts
seeing opportunities for investors amid the tumult.
"This environment calls for investor caution, but not a full abandonment of risky assets," analysts at
Barclays Capital wrote in a note to clients. "Very cheap valuations especially in the sectors that are most
vulnerable to European sovereign debt suggest that there is considerable upside for patient investors,"
referencing stocks that have been slammed because of fears that Europe's debt crisis may deepen.
The euro took a beating in early trading, tumbling 1.1% against the U.S. dollar, while the greenback
leaped nearly 1% against a basket of world currencies.
Commodity Selloff
Energy markets sold off as well as a result of increased fear that a weakening economy will stunt demand
and a considerably stronger dollar. Light, sweet crude fell $5.41, or 6.3%, to $80.51 a barrel. Wholesale
RBOB gasoline dipped 11 cents, or 4%, to $2.56 a gallon.
Gold plunged $66.40, or 3.7%, to $1,742 a troy ounce.
Corporate News
UTX Technologies (UTX: 68.31, -6.56, -8.76%) unveiled plans to acquire airplane-part maker Goodrich
for $16.4 billion in cash -- a 16% premium to Wednesday's closing price and 47% higher than the price
before news initially leaked last Thursday.
FedEx (FDX: 66.58, -5.92, -8.17%) posted quarterly profits that topped Wall Street's estimates by a
penny, but slashed its full-year outlook, sending shares lower.
Honeywell (HON: 41.97, -2.90, -6.46%) said its expects its third-quarter earnings to come in at the high
end of its forecast of 96 cents to $1.01 a share.
Foreign Markets
The English FTSE 100 plunged 4.7% to 5,042 and the German DAX slumped 5% to 5,164.
In Asia, the Japanese Nikkei 225 sunk 2.1% to 8,560 and the Chinese Hang Seng shed 4.9% to 17,912.
Print

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MARKET UPDATES - INVESTING

A Gruesome Week: Wall Street Crushed in Worst


Weekly Plunge in Years

MARKET SNAPSHOT
U.S.

By Adam Samson
Published September 23, 2011 | FOXBusiness
Print

Email

Europe

Asia

DJIA

Share

1 day

10,771.48

+37.65

Nasdaq

2,483.23

+27.56

S&P 500

1,136.43

+6.87

830.51

+4.97

FOX 50

FOX Business: The Power to Prosper


Despite moving modestly higher on the
day, stocks were pummeled this week
after economic and euro zone dread
gripped market participants across the
world, igniting a global selling frenzy and
the blue chips' steepest fall since the
depths of the 2008 financial crisis.
Today's Markets
Reuters

The Dow Jones Industrial Average rose


37.7 points, or 0.35%, to 10,771, the
S&P 500 gained 6.9 points, or 0.61%, to 1,136 and the Nasdaq Composite climbed 27.6 points, or 1.1%,
to 2,483. The FOX 50 rose 5 points to 831.
RELATED VIDEO

Despite only making a modest move on the day, many assets experienced
their worst week in many years. The blue chips tumbled 6.4%, the S&P 500
plunged 6.4% and the Nasdaq slid 5.3%.

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Mort Zuckerman: In the


Midst of a Modern Day
Depression

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Gold shed close to 10% over the course of the week -- the biggest drop on a
percentage basis in 28 years. Meanwhile, in energy markets, oil tumbled $8.11
per barrel, or 9.22%, to $79.85 over the same period -- the steepest retreat
since May.

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Traders raced into the safety of Treasury bonds; indeed, the yield on the 10year note repeatedly touched record lows, although made a modest comeback
on Friday, sitting at 1.833%.
On Friday, about half of the 30 Dow components were recently in the green -led by Bank of America (BAC: 6.31, +0.25, +4.13%) and Caterpillar (CAT:
73.86, -0.04, -0.05%). Blue chips like Hewlett-Packard (HPQ: 22.32, -0.48, 2.11%) and DuPont (DD: 40.46, -1.19, -2.86%) still faced substantial losses.
Volatility, as measures by the VIX index, was up 0.87% on the day -- a stark
contrast from the big jump on Thursday.
Market participants have been reacting to renewed concerns that the global
economy is careening off course, and that policymakers broadly aren't taking
enough steps to stem the fall. In particular, the euro zone sovereign debt crisis
has been seen as a significant destabilizing factor amid fears a default by a
country like Greece could send shockwaves that could paralyze the financial

system.
The Group of 20 major economies, including the United States, European Union and China, issued a
statement late Thursday saying that it stands committed to "take all necessary actions to preserve the
stability of banking systems and financial markets as required."

http://www.foxbusiness.com/investing/2011/09/23/dismal-week-stocks-metals-... 23-Sep-2011

Page 2 of 3

While European markets pointed higher as a result, they quickly fell back into the red, as did U.S. stock
futures. There is a concern that policymakers' statements have often not translated into action, analysts
say.
"Hopes for some decisive action resulting from this weeks [Group of 20] meeting have helped to calm
some nerves in the second half of the day" in European markets, David Jones, chief market strategist at
IG Index, wrote in a note to clients. However, "markets have been tired of continual talk over drawing a
line under the crisis, but very little in the way of action."
Additionally, the European Commission said Friday that there is no big push to recpitalize European
banks, which goes counter to a report on Thursday by the Financial Times that it would move to aid
struggling mid-tier European banks. The EU has already provided nearly $600 billion in support to the
embattled banking sector there.
Euro zone banks, particularly French ones like BNP Paribas and Credit Agricole, have seen their share
prices plummet over worries that a sovereign default would severely damage their capital position.
Corporate News
Hewlett-Packard (HPQ: 22.32, -0.48, -2.11%) ousted Leo Apotheker as its chief executive, putting former
eBay (EBAY: 32.08, +0.41, +1.29%) CEO Meg Whitman in his place. Apotheker had been strongly
criticized during his time running the computing giant.
Foreign Markets
The English FTSE 100 gained 0.5% to 5,067 and the German DAX rose 0.63% to 5,197.
In Asia, the Chinese Hang Seng fell 1.4% to 17,669 and Japanese markets were closed for a holiday.

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MARKET UPDATES - INVESTING

Doom Street: Stocks Walloped in Worst Quarter


Since '08 Financial Crisis

MARKET SNAPSHOT
U.S.

By Adam Samson
Published September 30, 2011 | FOXBusiness
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Europe
DJIA

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A stalling global economy, political
gridlock and Europe's deepening debt
debacle captivated the markets in the
third quarter and sent traders dashing
out of equities and many commodities
alike. All in all, the blue chips plunged
roughly 1,500 points in the worst
quarterly rout since the depths of the
financial crisis in 2008.

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The Dow Jones Industrial Average dropped 241 points, or 2.2%, to 10,913, the S&P 500 dipped 29 points,
or 2.5%, to 1,131 and the Nadsaq Composite fell 65.4 points, or 2.6%, to 2,415. The FOX 50 fell 19.1
points to 833.

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For the quarter,the Dow shed 12.1%, the S&P 500 plummeted 14.3% and the
Nasdaq slid 12.9%.

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Wall Street moved at break-neck speed throughout the entire quarter. Indeed,
the Dow made triple-digit moves in either direction on a regular basis. Traders
were spooked by signs pointing to an economic slowdown, and potentially even
another recession. Meanwhile, a deadlock in Washington, D.C. over raising
the U.S. debt limit nearly sparked a selective default of American debt, and
contributed to Standard & Poor's slashing the U.S.'s pristine triple-A credit
rating.

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At the same time, headlines from Europe reverberated across the Atlantic and
rattled U.S. markets. Of particular concern has been the chance that Greece
may have to default on its debt if it doesn't receive an enormous bailout
package from international lenders, a move that has ignited widespread
political angst across the 17-member euro currency bloc. And many analysts
fear a Greek default could produce shockwaves that put the entire world
financial system in peril.
Of the blue chips, Caterpillar (CAT: 73.84, -1.55, -2.06%), 3M (MMM: 71.79, 2.74, -3.68%) and United Technologies (UTX: 70.36, -2.06, -2.84%)
contributed the most to the Dow's rout. In energy markets, crude oil plunged
17% -- also the worst retreat since the financial crisis. Gold, which was used as
a safe-haven during many of the most intense downturns, was up more than
7% for the quarter, but has recently receded from record highs. Also in a sign
of the tumult, the benchmark 10-year took its biggest loss since the financial
crisis.
Data Deluge
Economic data releases were mixed on Friday, however, the broadly negative

http://www.foxbusiness.com/investing/2011/09/30/doom-street-stocks-wallope... 30-Sep-2011

Page 2 of 4

RELATED VIDEO

trend for the economy still spooked traders. Indeed, in a sign of the fears, the
Treasury yields have fallen sharply: the benchmark 10-year note is presently
yielding 1.9% from 2.001%.
Personal income fell 0.1% in August, the first decline since October 2009, and
weaker than the 0.1% gain economists anticipated. Consumer spending was
up 0.1% for the month, which was in line with expectations.

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Meanwhile, the final reading of the Reuters/University of Michigan showed


consumer sentiment edged up in late September, but remained glum.
Consumer sentiment came in at 59.4 in September, from a previous reading of
57.8, and higher than estimates of 57.8.
Consumption is a key component in economic expansion, and can have an
impact on many sectors. In particular, retailers like Target (TGT: 49.04, -1.19, 2.37%) can be affected by these data, especially with just months to go before
the key holiday buying season this winter.
Manufacturing in the Chicago region expanded quicker than economists
expected in September. The Institute for Supply Management's gauge rose to
60.4 from 56.5, easily topping expectations of 55.5. The Chicago report comes
ahead of the more closely-tracked nationwide report, and generally correlates
reasonably well with that report, according to economists at Nomura.
The manufacturing sector took a hard hit from several economic factors,
including high energy prices, and lingering supply-chain impacts of the
earthquake that slammed Japan in March.
The Chinese manufacturing sector contracted for a third-straight month in
September, adding to worries that the world's second-largest economy may be
slowing down.
Inflation in the euro zone picked up speed drastically in September, soaring 3%
from 2010, a quicker pace than the 2.5% in August, and well above the
European Central Bank's inflation target of 2%. Indeed, September marked the
swiftest increase since October 2008.
"This development is likely to limit the ECB's willingness to provide more
monetary stimulus, despite recent poor news on activity," economists at
Barclays Capital wrote in a research note.
Also on the euro zone front, Austria's parliament approved giving the region's
sovereign rescue fund additional powers to help aid with bailouts such of that of
Greece. Germany's lower house approved the changes on Thursday,
considered to be one of the most crucial votes of confidence, but all of the 17
currency members of the currency bloc must agree.

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Negotiations were ongoing in Greece between international inspectors, called


the "troika," regarding the next tranche of funding the country needs to avoid
defaulting in October.
In currencies, the euro sunk 1% against the U.S. dollar, while the greenback
rose 0.62% against a basket of world currencies.
Energy markets were mixed, shedding heavy losses. Light, sweet crude fell
$1.00, or 1.2%, to $81.13 a barrel. Wholesale RBOB gasoline rose 3 cents, or
1.1%, to $2.59 a gallon.

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Gold climbed $5.00, or 0.31%, to $1,622 a troy ounce. The precious metal is
headed for its worst monthly fall since the financial crisis in 2008.

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Morgan Stanley (MS: 13.51, -1.58, -10.47%) saw its share tumble nearly 10%,
while the costs to insure its debt jumped, amid concerns over its exposure to
European banks.

Foreign Markets

http://www.foxbusiness.com/investing/2011/09/30/doom-street-stocks-wallope... 30-Sep-2011

Page 3 of 4

The Euro Stoxx 50 slid 1.5% to 2,180, the English FTSE 100 fell 1.3% to 5,197 and the German DAX
tumbled 2.4% to 5,402.
In Asia, the Japanese Nikkei 225 slipped 0.01% to 8,700 and the Chinese Hang Seng dipped 2.3% to
17,592.

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Published October 31, 2011

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Wall Street closed out a strong month with a steep selloff after
reemerging worries over Europe's sovereign debt crisis and the
bankruptcy of MF Global spooked traders, and Japan's move to boost
the yen put strong selling pressure on energy and materials shares.

Share
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Wall Street Caps Blockbuster Month on a


Gloomy Note
Written By Adam Samson

Netflix

10

SONY...

TM

20.97
-1.41

66.71

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INTERACTIVE ...

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The Dow Jones Industrial Average slid 276 points, or 2.3%, to 11,955,
the S&P 500 slumped 31.8 points, or 2.5%, to 1,253 and the Nasdaq
Composite fell 52.7 points, or 1.9%, to 2,684.
Despite Monday's weakness, the markets soared in October. The Dow,
S&P 500 and Nasdaq were all up more than 9% for the month. Indeed,
the blue chips posted their best performance on a percent basis since
2002, and the broader S&P had its best month in twenty years.
The selloff was quite broad on the day, however. Bank of America
(BAC: 6.83, -0.52, -7.07%) and Alcoa (AA: 10.76, -0.81, -7.00%) were
the worst-performing Dow components, but all thirty blue chips ended in
the red. Volatility spiked 17.7%, while the yields on government debt fell
as investors piled into the perceived safe-haven asset. The benchmark
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Japan on Monday made a significant intervention in the foreign
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tries to push down spiking yen exchange rates. The world's third-largest
economy has been pressured from the high relative valuation of the
yen, which government officials are blaming on speculation. Indeed, the
yen hit a post-World War II high against the dollar last week.
Japan relies heavily on exports, and the higher the yen, the more it
costs companies in other countries to purchase Japanese goods. The
country's economy is already reeling from the effects of the devastating
earthquake and tsunami that hit in March and impacted major players
like Toyota (TM: 66.71, -2.95, -4.23%) and Sony (SNE: 20.97, -1.41, 6.30%).
The move made waves throughout global currency markets. The U.S.
dollar soared 3.2% against the yen, while the euro slid 2.2% against the
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A stronger dollar, however, is bearish for energy prices that are traded
in dollars, shoving many commodities and commodity-related shares
into the red. The benchmark U.S. crude oil contract fell 38 cents, or
0.42%, to $92.91 a barrel. Still, oil spiked 17.7% for the month -- the
best performance since May 2009.

Show More

Wholesale RBOB gasoline slipped 4 cents, or 1.5%, to $2.64 a gallon.


In metals, gold was off $22.00, or 1.3%, to $1,725 a troy ounce.
Also weighing heavily on sentiment was news on struggling futurestrading firm MF Global (MF: 1.20, -0.23, -16.08%). The company filed
for Chapter 11 bankruptcy protection on Monday.
Additionally, multiple exchanges in which it once had a strong foothold
limited MF Global customers to unwinding positions and said it will no
longer recognize the company or its divisions as a guarantor. MF
Global is a major player in the futures markets, so the news had an
outsized affect on futures trading.

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Traders were also paying close attention to Europe, where leaders were
still working to solidify a plan to tackle the region's escalating debt crisis.
Last week, euro zone policymakers agreed to a wide-ranging plan that
includes a 50% writedown on Greek debt held by private bondholders,
leveraging of the currency bloc's rescue fund, and recapitalization of
European banks. Markets cheered the news, with the Dow soaring 340
points on the day.

GOLD STOCKS TO WATCH


The best gold stock to watch this week!
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However, questions still remained over the euro zone's ability to actually
implement the plan before it threatens larger global economies like Italy
or Spain.
"After the positive knee-jerk reaction by markets, many now want to see
further details of how the increased bailout fund will be financed," Ben
Critchley, a trader at London-based IG Index wrote in a note to clients.
Global leaders are set to meet in France at the Group of 20 summit at
the end of the week, which is said to be another key milestone for the
now two-year-old sovereign debt crisis.
Foreign Markets
European blue chips tumbled 3.1% to 2,385, the English FTSE 100 fell
2.8% to 5,544 and the German DAX slid 3.2% to 6,141.
In Asia, the Japanese Nikkei 225 fell 0.69% to 8,988 and the Chinese
Hang Seng slumped 0.77% to 19,865.
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The Hindu : Business / Markets : Sensex down 224 points on profit-bookin...

1 of 1

http://www.thehindu.com/business/markets/article2588813.ece

Business Markets
Sensex down 224 points on profit-booking, global worries
PTI

PTI Brokers said investors booked profits after a rally last week amid uncertainty over the eurozone debt crisis.

The BSE benchmark index Sensex today fell by 224 points on profit selling, especially in banking auto and realt
stocks, driven by weak global trends after renewed concerns over the European debt crisis.
The 30-share index lost 224.18 points, or 1.27 per cent to close at 17,480.83 points. It had lost 99.79 points in th
previous session.
The wide-based National Stock Exchange Nifty index declined by 68.65 points, or 1.29 per cent to 5,257.95 poin
Brokers said investors booked profits after a rally last week amid uncertainty over the eurozone debt crisis. The
Sensex had risen over 6 per cent last week.
Market leader Reliance Industries fell by 1.96 per cent to Rs. 860.55 and Infosys by 1.32 per cent to Rs. 2,837.20
two scrips have 20 per cent weightage in the Sensex.
Banking stocks fell over fears that hike in savings interest rate would reduce banks profitability and dent the ea
of interest-sensitive industries. The banking sector index lost 1.54 per cent to settle at 11,277.95 points.
The auto sector index suffered the most by 1.98 per cent to 9,289.34 on reports of fall in vehicle sales during the
October month, while realty sector lost 1.87 per cent to 1,883.80 on fears the interest hike might curb home sal
A weakening trend in the Asian region and lower opening in Europe as the announcement of a Greek referendu
spurred concern that the country may default, continued to shadow the trading sentiment.
Keywords: sensex, share markets

01-Nov-2011 9:19 AM

Market Report - Nov. 1, 2011 - CNNMoney

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Stocks fall hard on


Greece fears
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By Hibah YousufNovember 1, 2011: 4:49 PM ET

Stocks fall hard on Greece fears

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NEW YORK (CNNMoney) -- New fears about the fate of the European
rescue plan reverberated through stock markets in the United States and
around the world Tuesday.

Markets
US Indexes

Following European markets, U.S. stocks ended sharply lower across the
board. Bank stocks were hit especially hard.

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The bad news was propelled by


Greek Prime Minister George
Papandreou's surprise
announcement that he would put his
country's participation in last week's
European debt plan to a voter
referendum.

Change

% Change

11,657.96

-297.05

-2.48%

Nasdaq

2,606.96

-77.45

-2.89%

S&P 500

1,218.28

-35.02

-2.79%

2.00

-0.17

Dow
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Treasuries

-8.00%
Data as of 6:36pm ET

symbol

The announcement spooked


investors, who feared a public vote
would jeopardize the carefully-crafted
deal.

Tuesday afternoon, stocks clawed back from the lowest levels of the day
following a Dow Jones report that said the referendum is "basically dead."
But just minutes before the market close, other news reports said the
referendum will go ahead.
In the end, the Dow Jones industrial average ( INDU) finished 297 points
lower, falling 2.5%, the S&P 500 ( SPX) sank 35 points, or 2.8%, and the
Nasdaq ( COMP) lost 77 points, or 2.9%. Earlier, all three indexes were off
around 3%.
"Beggars can't be choosers and the fact that Greece even thinks they have
a choice in accepting the EU debt deal is beyond logic," said Kathy Lien,
director of currency research at Global Forex Trading, in a note to clients.

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http://money.cnn.com/2011/11/01/markets/markets_newyork/index.htm

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01-Nov-2011

Market Report - Nov. 1, 2011 - CNNMoney

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Papandreou may be demonstrating "political brinkmanship in order to


solidify his position in the view of the public," despite the highly unpopular
austerity measures, said Mark Luschini, chief investment strategist at
Janney Montgomery Scott.

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The
referendum
could
alsoword
be Greece's way of warning European officials
Greece
is still
the
that they need better terms that the public will support, or else the deal will
fall apart, added Luschini. Or it could be a "complete policy blunder."
"Investors don't know what the referendum is going to mean, but they're
selling first and will ask questions later," said Luschini. "If Greece ends up
demanding different terms to the deal, European officials will be less willing
to help. And that could put the prospect of a disorderly Greek default back
on the table."

20 biggest CEO pay raises


Viacom's chief executive Philippe
Dauman enjoyed a whopping $50.5
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tremendously in 2010? More

The market's fear gauge, the VIX ( VIX), spiked 19% to 35.60. Any reading
above 30 signals investor worry. Earlier, the index has surged 25%.
Stocks are coming off sharp losses Monday, as questions and doubts arose
regarding the rescue package agreed upon by European leaders last week.

Buick Verano, GM's bite-sized


luxury

The recent selling puts the S&P 500 and Nasdaq back in negative territory
for the year, while the Dow is up just 0.7% in 2011.

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MF Global may have millions missing


Companies: Bank stocks were hit especially hard in Tuesday's sell-off,
with shares of Morgan Stanley ( MS, Fortune 500) and Citigroup ( C,
Fortune 500) shares off nearly 8%. Bank of America ( BAC, Fortune
500), JP Morgan Chase ( JPM, Fortune 500) and Goldman Sachs ( GS,
Fortune 500) were down more than 5%.

Black Friday predictions: What


should you buy?
From toys to tablet computers, which
items will be steals on Black Friday
and which ones are worth waiting for
until the holidays are over. More

Pfizer ( PFE, Fortune 500) shares rose after the company reported
quarterly earnings that beat Wall Street's estimates. The drugmaker was the
only gainer on the Dow, and among a handful of S&P 500 stocks in positive
territory.

'How the economy changed us'


Saving more, buying less and
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Shares of Baker Hughes ( BHI, Fortune 500) plunged, making it the big
decliner on the S&P 500. The oilfield contractor missed earnings estimates.
MetroPCS ( PCS) shares also fell after the wireless service provider
reported lackluster earnings results.
SEE ALL GALLERIES

Meanwhile, Bank of America said it will drop its planned $5 debit card
usage fee after widespread customer complaints.
World markets: World markets tumbled Tuesday, with banks leading the
decline globally. Germany's DAX ( DAX) lost 5%, Britain's FTSE 100
( UKX) dropped 2.2%, and France's CAC 40 ( CAC40) tumbled 5.4%
Societe Generale, BNP Paribas, and Credit Agricole shed between 12% and
17% in Paris. In Germany, shares of Deutsche Bank ( DB) dropped 8%.
Asian markets ended mostly in the red, after a report showed China's
manufacturing activity slowed in September. The Shanghai Composite
( SHCOMP) was flat, while the Hang Seng ( HSI) in Hong Kong fell
2.5% and Japan's Nikkei ( N225) shed 1.7%.
Economy: The ISM index show manufacturing activity barely expanded in
October, coming in at 50.8. Any level above 50 indicates growth in the
sector. But the reading fell from September and came in below expectations.
Construction spending edged up 0.2% in September, down from a 1.6%
pickup in August. Economists were expecting spending to rise 0.3%.
Auto sales figures will be coming out throughout the day.

http://money.cnn.com/2011/11/01/markets/markets_newyork/index.htm

01-Nov-2011

Dow falls 297 as Greek turmoil batters stocks - MSN Money

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Dow falls 297 as Greek turmoil batters stocks

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Financial markets globally slump after Greece talks about holding a referendum on its debt
bailout. Bank stocks sag; Bank of America junks its debit-card fee. Commodities tumble after
the failure of MF Global. GM's October sales miss estimates.

View a detailed
analysis on S&P 500
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By Charley Blaine on Tue, Nov 1, 2011 1:02 PM


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WATCHLIST

Updated: 5:48 p.m. ET


Stocks slumped for the second day in a row as a plan for Greece to hold a referendum on
the terms of its financial rescue threatened to scuttle Europe's grand bailout plan.
U.S. stocks were down 2.4% on the news, with the Dow Jones industrials ($INDU 2.48%) briefly off more than 300 points. German and French stocks closed down more
than 5%, and British stocks tumbled more than 2%.
Greek Prime Minister's George Papandreou's proposal to let Greeks vote on the austerity plans required to comply
with its financial rescue took markets entirely by surprise -- not to mention the eurozone nations that had labored deep
into the night last week to craft the plan. Papandreou's decision may lead to a collapse of his government, the

After you search for quotes in the Get Quote box at the
top of the page, they will appear here.
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US

INTERNATIONAL

NAME

LAST

CHANGE

% CHANGE

DOW

11,657.96

-297.05

-2.48

Guardian newspaper reported, causing more turmoil across the continent. He faces a vote of confidence on Friday.
Adding to the market's stress today were October sales reports that missed estimates from General Motors (GM 9.75%) and Ford Motor (F -5.14%), as well as slumping commodity markets in the wake of MF Global's bankruptcy
filing on Monday. Gold (-GC) briefly dropped below $1,700 an ounce; crude oil (-CL) in New York fell to as low as
$89.17 a barrel.
The Dow closed down 297 points, or 2.5%, to 11,658; the blue chips had been down as many as 321 points. The
Standard & Poor's 500 Index ($INX -2.79%) was off 35 points, or 2.8%, to 1,218, and the Nasdaq Composite Index
($COMPX -2.89%) had fallen 77 points, or 2.9%, to 2,607.

NASDAQ

2,606.96

-77.45

-2.89

Article continues below.

S&P

1,218.28

-35.02

-2.79

Russell
2000

713.89

-27.17

-3.67

The Dow has fallen 4.7% in two days of trading, with the S&P 500 off 5.2% and the Nasdaq down 4.8%. The two-day

10 Yr Note

101.09

+1.03

+1.03

losses were the worst since Sept. 21-22.


The sell-off came after a strong performance for U.S. stocks in October. It comes ahead of a Federal Reserve
decision on monetary policy due Wednesday morning. (Chairman Ben Bernanke will hold a news conference
afterward.)
Here's a little something to cheer about: The S&P 500's 2.8% decline was not the worst for the first day of November
trading in the index's history. The worst was a 5.26% decline in 1929, followed by a 2.87% decline in 1932.
To rank among the 10 worst days on the first day of any month would have required a 2.97% decline, according to
Standard & Poor's Howard Silverblatt.
Only one of the 30 Dow stocks was higher today: pharmaceutical giant Pfizer (PFE +0.36%), up 0.4% to $19.33.
Pfizer's third-quarter results came in much better than expected, as sales of its medicines accelerated in emerging

[BRIEFING.COM] Revived concerns related to Europe's


ability to efficiently and effectively restore financial
conditions resulted in another round of aggressive
selling. ... More
More Market News
Stock Ticker

Story Stocks

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NAME

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1.37043

+0.00019

+0.01

markets and in the nutritional products and animal health businesses it plans to divest.
Euro/Dollar
The drugmaker raised its full-year 2011 profit forecast to $2.24 to $2.29 a share after one-time charges. It also
reaffirmed its projection of $2.25 to $2.29 a share in earnings for 2012. That's even after ceding sales from its $10

Pound/Dollar

billion-a-year Lipitor cholesterol fighter once cheaper generics begin flooding U.S. pharmacies on Nov. 30.

Dollar/Yen

1.59617

+0.00076

+0.05

78.55460

+0.18459

+0.24

http://money.msn.com/market-news/post.aspx?post=9a13c7aa-bebc-4898-85...

01-Nov-2011

Dow falls 297 as Greek turmoil batters stocks - MSN Money

Meanwhile, only 20 S&P 500 stocks were higher, led by online travel site Expedia (EXPE), up 4.3% to $27.38.
All 10 sectors of the S&P 500 were lower. The best performers, relatively speaking, were utility stocks, a reflection of

Page 2 of 6

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their ability to pay dividends. Financial, energy and industrial stocks were the market's weakest sectors.
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LATEST MARKET DISPATCHES


Expedia was the top stock in in the Nasdaq-100 Index ($NDX), which tracks the largest Nasdaq stocks. The other
gainers were Seagate Technology (STX), up 1.8% to $16.25, O'Reilly Automotive (ORLY), up 0.5% to $76.45, and
Costco Wholesale (COST), up 0.1% to $83.35.
The index was off 62 points, or 2.6%, to 2,298. Apple (AAPL), down 1.6% to $398.40, was responsible for five points
of the index's loss.

Financial markets globally slump after Greece talks


about holding a referendum on its debt bailout. Bank
stocks sag; Bank of America junks its debit-card fee.
Commodities tumble after the failure of MF Global. GM's
October sales miss estimates.
Automakers disappoint with modest October gains

Energy prices -- New York close

Crude oil (-CL)

Dow falls 297 as Greek turmoil batters stocks

Tues.

Mon.

Month chg.

YTD chg.

Gold continues to slide as dollar strengthens

$92.19

$93.19

-1.07%

0.89%

Stocks tumble on renewed fears over European debt

(per barrel)
Heating oil (-HO)

$3.0379 $3.0583 -0.67%

19.43%

$3.7810 $3.9340 -3.89%

-14.17%

$2.6244 $2.6057 0.72%

6.98%

$109.06 $109.56 -0.46%

15.10%

$3.4370 $3.4430 -0.17%

11.88%

Strong dollar beats up gold

(per gallon)
Natural gas (-NG)

Dow falls 276 on Europe, economic worries

Stocks drop as Europe euphoria fades

(per mil. BTU)


Unleaded gasoline (-RB)
(per gallon)
Brent crude

VIDEO ON MSN MONEY


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(per barrel)
Retail gasoline

DELISH
The most distinctive drivethrus

(per gallon; AAA)


Treasury yields drop on Greek worries
The Greek situation sent many investors scurrying for safety. The euro fell 1.25% against the dollar. Treasury yields
dropped; the 10-year Treasury yield fell to 2% from Monday's 2.175%.

5 auto safety systems that save your life


What to do with Halloween candy? Eat it

Gold, meanwhile, settled down $13.40 to $1,711.80 an ounce after falling to as low as $1,681.20 an ounce. Silver (SI) settled down $1.623, or 4.7%, to $32.266 an ounce. Copper (-HG) dropped 13 cents to $3.5025 a pound.

Bing: Herman Cain hit by tax lien in 2008

Light sweet crude oil in New York settled down $1, or 1.1%, to $92.19 a barrel, a bit of an improvement over this
morning when it hit $89.17. Brent, the benchmark North Sea crude, was down $2.85 to $106.71. The spread between

MORE FROM BING

U.S. crude and Brent has shrunk from more than $25 a barrel two weeks ago to less than $15.

How to make the most of your 401k

What was Papandreou thinking?


The conventional view of the Greek situation is that George Papandreou had abdicated responsibility for proposing a

Your budget priorities, first to last


Investing terms everyone should know

referendum on the Greek rescue plan.


Should you give your kids an allowance?
His announcement, late Monday, appeared to cut the knees out of the bailout plan negotiated last week and set the
stage for real chaos. At one point, it looked as though the referendum was off. However, as a cabinet meeting today,

The most common credit card scams

Papandreou repeated his vow to hold the referendum. (He also replaced the top brass in Greece's armed forces.)

Maximize your Social Security benefits

"We expect the crisis to build," Capital Economics, a British consulting firm, wrote today, "prompting a prolonged
recession in the eurozone, further turmoil in the markets and, at some point, the end of the euro itself in its current
form."
The more cynical view is this: Greece can't afford the rescue plan. It's in the midst of a major recession. And the only
real solution may be to junk the euro as its currency and work through its problems with a lower-valued currency.
The practical effect of the problem, however, has been to batter financial stocks in Europe and the United States.
Societe Generale (SCGLY), the big French bank, was trading down 14.5% to $4.96 in New York. BNP Paribas
(BNPQY) was off 12% to $19.71. Deutsche Bank (DB) was off 7% to $38.50.
JPMorgan Chase (JPM) was down 5.9% to $32.71. Citigroup (C) was off 7.7% to $29.17.
It should be noted that Bank of America (BAC) ended its plan to charge customers $5 a month for using their debit
cards. Shares were down 6.3% to $6.40.
Auto sales not as robust as hoped
Toyota Motor (TM) and Honda Motor (HMC) reported U.S. sales declines for October, when they pledged to record
their first increases since April. General Motors and Ford Motor said their deliveries rose less than analysts estimates.
Toyota said sales slid 7.9% to 134,046, while Honda deliveries slipped 0.5% to 98,333, according to separate emailed statements. GM sales rose 1.7% to 186,895 and Ford light-vehicle deliveries gained 6.2% to 167,502, falling
short of estimates by analysts who projected at least 6.6% increases for each.
Total deliveries for the month increased 7.5% to 950,165. The closely watched seasonally adjusted annual sales rate
rose to 13.2 million units, up 8% from a year ago and in line with the consensus estimate. There had been hopes the

http://money.msn.com/market-news/post.aspx?post=9a13c7aa-bebc-4898-85...

01-Nov-2011

Dow falls 297 as Greek turmoil batters stocks - MSN Money

Page 3 of 6

sales rate would hit as high 13.9 million.


The pace, which dipped below 12 million in May and June after Japans tsunami disrupted Toyota and Honda output,
may now be challenged as Thailands floods disrupt that country's supply of parts.
Toyota stock was off 2.2% to $65.26. Honda ended up 0.7% to $30.10. GM, which reports quarterly results in a week,
slumped 9.8% to $23.33, and Ford fell 5.1% to $11.08.

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Short hits from the markets -- New York close


Tues.

Mon.

Month chg. YTD chg.

Treasury yields
13-week Treasury bill

0.0200%

0.010%

100.00%

-83.33%

5-year Treasury note

0.909%

1.011%

-10.09%

-54.91%

10-year Treasury note

2.001%

2.175%

-8.00%

-39.46%

30-year Treasury bond 3.012%

3.199%

-5.85%

-30.95%

Currencies
U.S. Dollar Index

77.39

76.306

1.42%

-2.39%

British pound

1.5980

1.6090

-0.66%

2.40%

(in U.S. $)
U.S. $ in pounds

0.626

0.622

0.66%

-2.34%

Euro in dollars

$1.37

$1.39

-0.99%

2.55%

U.S. $ in euros

0.729

0.721

1.00%

-2.49%

U.S. $ in yen

78.38

78.14

-0.07%

-3.67%

U.S. $ in Chinese

6.38

6.35

0.00%

-3.61%

$0.984

$1.001

-1.71%

-1.97%

$1.017

$0.999

1.67%

1.93%

(in U.S. $)

yuan
Canada dollar
(in U.S. $)
U.S. dollar
(in Canadian $)
Commodities
Gold (-GC)

$1,711.80 $1,725.20 -0.78%

20.43%

$3.503

$3.632

-3.57%

-21.24%

$32.7310

$34.3540

-4.72%

5.80%

$6.3000

$6.2825

0.28%

-20.68%

$6.5425

$6.47

1.12%

5.10%

$0.9954

1.0229

-2.69%

-31.26%

$2.2730

2.304

-1.35%

-5.49%

$92.19

$93.19

-1.07%

0.89%

(per troy ounce)


Copper (-HG)
(per pound)
Silver (-SI)
(per troy ounce)
Wheat (-ZW)
(per bushel)
Corn (-ZC)
(per bushel)
Cotton
(per pound)
Coffee
(per pound)
Crude oil (-CL)
(per barrel)

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FOX 50

Choppy Trade: Concerns over containing the European debt crisis before it puts larger economies in peril and a
slew of MF Global developments ignited a dramatic selloff on Wall Street that left the blue chips close to 600 points
to the downside over a two-day period.

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JPMorgan: MF Globals Bankruptcy Filing Is Wrong


JPMorgan Chase says that MF Global got it
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Report: MF Global Exec Admits to Using Client Money

Greek Prime Minister Risks Chaos to Save Face


Greek Prime Minister George Papandreou seems willing to
risk throwing Europe -- and the global economy -- into
chaos to save face politically.

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Drenched in Red: Wall Street Pummeled as


Debt Crisis Engulfs Italy
Written By Adam Samson

Travel

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Published November 09, 2011

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The markets plummeted on Wednesday as Europe's debt crisis
escalated to a new, more dangerous phase, taking Italy, one of the euro
zone's biggest economies, as its latest victim.

Show More

Markets Sink as Italian


Borrowing Rates Sore

Today's Markets

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The Dow Jones Industrial Average tumbled 389 points, or 3.2%, to


11,781, the S&P 500 slid 46.8 points, or 3.7%, to 1,229 and the Nasdaq
Composite slumped 106 points, or 3.9%, to 2,622.

Macy's 3Q Trumps
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Wall Street has been fixated on developments from across the Atlantic
for months as the euro zone's sovereign debt crisis has spread, posing
an increased risk to the global financial system, and threatening to tip
the region's economy back into a recession.
The selling was ferocious enough on the day to knock the broad S&P
500 and Nasdaq into the red for the year and significantly trim the Dow's
gain. Volatility spiked 32%, while the yields on U.S. government debt
tumbled as fears mounted. The benchmark 10-year Treasury note
yields 1.969% from 2.084%.
Every major sector was in the red, but financial stocks took the biggest
beating by a wide margin. Indeed, Bank of America (BAC: 6.16, -0.37,
-5.67%) and JPMorgan Chase (JPM: 32.54, -2.48, -7.08%) were the
worst-performing blue chips, plunging more than 5% each.

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Italy, with its public debt of roughly $2.6 trillion, or 120% of its total
economic output, has become the latest focus. The yield on the
country's debt has ballooned since the summer and the benchmark 10year note hit a fresh euro-era high of 7.495% on Wednesday, according
to an analysis by FOX Business, as traders have fled out of fear that the
value of the debt will continue declining, and that the country may not be
able to honor its commitments. Greece, Portugal and Ireland, much
smaller economies with smaller absolute levels of debt, needed
international bailouts when their debt yields topped 7%.
The problem for Italy is twofold. The higher the yield it needs to pay, the
more expensive it becomes for the embattled nation to refinance its debt
years down the line, increasing its overall debt level. Second, as yields
climb and prices tumble, traders become more wary of purchasing the
debt, and Italy could have trouble finding sufficient levels of lending on
the private market, meaning it would need international support to
refinance.
The country has begun putting in place economic reforms to cut back its
debt level, but it isn't clear whether those reforms will be sufficient to cut
down the debt, or convince the markets that it is on a sustainable path.
Italy's Prime Minister Silvio Berlusconi agreed to resign on Tuesday
after a budget vote that is expected to be held next week, which market
participants initially hoped would pave the way for reforms to pass
through parliament, but the situation has become murkier. It isn't certain
who will take over the country, and if that person, or group, will be able
to get the reforms passed.

http://www.foxbusiness.com/investing/2011/11/09/drenched-in-red-wall-street-... 09-Nov-2011

Page 3 of 5

For Europe as a whole, Italy is particularly problematic because it is a


such a major economy, so many banks hold its debt, and because its
debt level is so high any potential bailout may be larger than the
continent can handle on its own. Additionally, it has become much
more difficult politically to pass rescue packages as countries like
Germany have grown unwilling to spend to bailout other countries.
However, an Italian default, analysts say, could be catastrophic.
On top of the woes from Italy, the Greek situation is still not under
control. The Mediterranean country's prime minister agreed to resign
over the weekend, but also isn't clear who will fill the power vacuum
there and assure financial markets that it will take measures to receive a
much-needed bailout.
European blue chips tumbled 2.3%, Italian shares plunged more than
3% and the euro plummeted 1.8% to $1.359. The U.S. dollar,
meanwhile, soared 1.1% against a basket of six world currencies.
Despite the heavy selling, some market participants saw the weakness
as a buying opportunity.
"We're coming off of the highs," Larry Levin, founder of Trading
Advantage told FOX Business in an interview. "Traders will step in and
buy."
A bullish weekly inventory report from the Energy Department helped
temper the losses in energy markets. The benchmark New York oil
contract fell $1.06, or 1.1%, to $95.74 a barrel. Wholesale RBOB
gasoline tumbled 6 cents, or 2.3%, to $2.64 a gallon.
In metals, gold fell $7.60, or 0.42%, to $1,792 a troy ounce.
The economic calendar is quite light on Wednesday, with a report on
wholesale inventories being the only major release. Inventories were
down 0.1% in September, smaller than the 0.1% increase in August,
and the 0.5% jump economists had forecast.
Corporate News
General Motors (GM: 22.31, -2.73, -10.90%) posted quarterly results
that beat Wall Street's expectations on the top and bottom line, but the
American automaker pared back its European outlook, sending shares
plunging.
Macy's (M: 30.45, -1.71, -5.32%) revealed third-quarter results that
easily topped forecasts, but its glum view on the key holiday season
spooked traders.
Foreign Markets
European blue chips tumbled 2.3%, the English FTSE 100 fell 1.9% to
5,460 and the German DAX slid 2.2% to 5,830.
In Asia, the Japanese Nikkei 225 jumped 1.25 to 8,755 and the
Chinese Hang Seng rallied 1.7% to 20,014.
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The Hindu : Business News : Sensex drops over 200 points on ratings con...

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http://www.thehindu.com/business/article2611832.ece

Business
Sensex drops over 200 points on ratings concerns
PTI

The Hindu Employees at a stock broker's office in Mumbai. File Photo: Vivek Bendre

In a choppy trade, the BSE benchmark index Sensex on Wednesday dropped by 207 points on selling by funds,
specially in banking, realty and oil stocks, after ratings agency Moodys lowered outlook on the banking system
After a higher start at 17,658.34, the 30-share index dropped by 207.43 points to close at 17,362.10 points with
scrips ending with losses.
After climbing to 5,317.50, the broad-based National Stock Exchange Nifty fell by 68.30 points to 5,221.05 poin
The banking sector stocks suffered the most as Moodys Investor Service downgraded its outlook for Indias ba
system to negative from stable, as it warned of slowing growth at home and overseas hitting asset quality,
capitalisation and profitability.
The countrys largest lender SBI plunged over 6 per cent on concerns over its asset quality and growing
non-performing assets. The SBI today posted 12.35 per cent rise in standalone net profit for July-September qu
Other major contributor to the fall were RIL, ICICI Bank, HDFC Bank, Maruti Suzuki, Mahindra and Mahindra
BHEL, DLF, Cipla, Sterlite Industries, Tata Motors and Tata Steel.
The banking index suffered the most by losing 2.62 per cent to 11,020.96 followed by metal sector index by 2.50
cent to 11,538.79.
Realty index fell by 2.48 per cent to 1,851.05 and Oil and gas index by 2.25 per cent to 8,841.08.
The market sentiment further dampened as Europes sovereign-debt crisis stirred political drama across the re
Keywords: sensex, Moody's rating, Indian banks

09-Nov-2011 10:46 PM

Wall Street Burned as Europe's Debt Crisis Boils Over | Fox Business

2 of 6

http://www.foxbusiness.com/markets/2011/11/16/wall-street-pummeled-a...

FOLLOW FOX BUSINESS


foxbusiness
Written By Adam Samson

Published November 16, 2011

/LNH

FOXBusiness

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Comments

Mounting evidence that Europe's debt crisis that was once


confined to the continent's highly-indebted periphery is
beginning to infect major global economies incited a powerful,
late-session selloff.

European
Banks Feel
Funding Pin

/LNH 

Today's Markets

Share

54
Share

The Dow Jones Industrial Average fell 191 points, or 1.6%, to


11,906, the S&P 500 slid 20.9 points, or 1.7%, to 1,237 and the
Nasdaq Composite slumped 46.6 points, or 1.7%, to 2,640.
The Dow shed close to 200 points in the last two hours of
trading, in what was yet another wild ride for Wall Street.
Market participants pegged Wall Street's late-day plunge on a
note from Fitch saying Europe's debt crisis could pose a risk to
the American banking system. The ratings company said U.S.
banks have "manageable direct exposures to the stressed
European markets, but further contagion poses a serious risk."

The financials suffered the worst as a result of the note, but


largely every sector was pummeled. All of the thirty blue chips
ended the day in the red, besides 3M (MMM: 81.87, 0.00,
0.00%), which was unchanged on the day.

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Wall Street Burned as Europe's Debt Crisis Boils Over | Fox Business

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while euro zone blue chips rose 0.62%.
Oil Tops $100 for First Time Since July
The benchmark crude oil contract traded in New York spiked
$3.22, or 3.2%, to $102.59 a barrel -- crossing the $100
threshold for the first time since July. Wholesale RBOB
gasoline climbed 4 cents, or 1.6%, to $2.63 a gallon.
The rally was driven by the sale of a key pipeline, analysts say.

17-Nov-2011 5:06 AM

Wall Street Burned as Europe's Debt Crisis Boils Over | Fox Business

4 of 6

http://www.foxbusiness.com/markets/2011/11/16/wall-street-pummeled-a...

The Energy Department's weekly inventory reports showed oil


and gas inventories were slightly higher than had been
expected in the prior week. Crude stocks fell 1.06 million
barrels, a narrower draw than the 1.2 million the was expected.
Gasoline stocks, meanwhile, rose 992,000 barrels, topping
estimates of a 700,000 fall.
In general, higher supply eases pressure on prices, so
unexpectedly high stocks could have a bearish affect in the
energy markets. However, after easing up slightly after the
report, the two energy futures recouped their losses.
On the corporate front, retail giant Target (TGT: 52.94, -0.24,
-0.45%) posted third-quarter profits of $555 million, blowing
past analysts' expectations, and also signaled its currentquarter earnings would be stronger than anticipated.
Technology heavyweight Dell (DELL: 15.13, -0.50, -3.20%),
however, revealed better-than-expected earnings, but lacking
sales that pushed shares down 2%.
Traders also had a slew of data to parse through on the U.S.
economy.
Inflation at the consumer level fell 0.1% in October from
September -- the first fall since July as energy prices tumbled
2%. Excluding the more volatile food and energy component,
prices were up 0.1% as expected. However, these data don't
include a more recent rise in energy prices, which may push
prices up in the next reading.
A separate report showed industrial output expanded at a rate
of 0.7% in October from September, topping expectations of a
0.4% gain. Capacity utilization rose slightly to 77.8%, which
was the highest reading since July 2008.
The data suggest "manufacturing output has picked up from a
soft patch over the summer and that auto production continues
to rebound," Peter Newland, an economist at Barclays Capital
wrote in a note to clients. "Any supply constraints resulting from
flooding in Thailand have not, as yet, had a material effect."
In metals, gold fell $7.90, or 0.44%, to $1,774 a troy ounce.
Foreign Markets
European blue chips rose 0.62%, the English FTSE 100 fell
0.15% to 5,517 and the German DAX slipped 0.5% to 5,913.
In Asia, the Japanese Nikkei 225 slid 0.92% to 8,463 and the
Chinese Hang Seng plummeted 2% to 18,961.

17-Nov-2011 5:06 AM

Wall Street Burned as Europe's Debt Crisis Boils Over | Fox Business

5 of 6

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Wall Street Burned as Europe's Debt Crisis Boils Over | Fox Business

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17-Nov-2011 5:06 AM

The Hindu : Business / Markets : Sensex dips below 17000-mark

1 of 1

http://www.thehindu.com/business/markets/article2629895.ece

Business Markets
Sensex dips below 17000-mark
PTI

The Bombay Stock Exchange benchmark Sensex dipped below the 17,000 mark after three weeks, losing 236 po
on sustained selling amid concerns over weak corporate earnings and subdued global markets.
The Sensex, which had lost over 450 points in the previous three sessions, fell further by 236.07 points, or 1.38
cent to 16,882.67. The gauge fell below the 17,000 level after October 24.
On the similar lines, the broad-based NSE index Nifty slipped below the 5,100 mark, losing 79.85 points or 1.55
cent to 5,068.50.
A weak trend in the Asian region and lower openings in Europe due to lingering doubts over the euro-zone deb
crisis dampened the trading sentiment.
Brokers said below-expectation quarterly earnings by some leading companies and fears of high inflation keepi
interest rates high remained major investor issues.
The decline was led by financial and interest sensitive stocks such as realty, auto and capital goods.
Two most heaviest counters, with 20 per cent weight on the Sensex Reliance Industries and Infosys fell sh
on brisk selling. RIL tumbled 1.42 per cent and Infosys by 0.57 per cent.
Other losers included Bajaj Auto, DLF, HeroMotorCo, ICICI Bank, L&T, M&M, Maruti, SBI, Tata Steel and BH
The realty sector index suffered the most by losing 5.22 per cent to 1,671.28, followed by capital goods index by
per cent to 10,208.85. Banking index lost 2.02 per cent to 10,436.22 and auto index by 1.65 per cent to 8,808.55
Keywords: Sensex, BSE, Nifty, NSE

17-Nov-2011 5:10 AM

The Hindu : Business / Markets : Sensex down 107 points

1 of 1

http://www.thehindu.com/business/markets/article2632364.ece

Business Markets
Sensex down 107 points
PTI

The Hindu Stock brokers in Mumbai track the market. File photo

The Bombay Stock Exchange benchmark Sensex on Wednesday fell for the fifth straight session, losing 107 poin
amid weak corporate earnings and a roll-back in petrol pries, while a firm trend in European equities restricted
losses.
Capital goods, power and refinery stocks led the fall.
The Sensex, which had dropped 686 points in last four trading sessions, fell another 106.80 points to 16,775.87
after touching days low of 16,641.65. Intra-day, it touched a high of 16,878.30.
The capital goods segment was the major loser as biggest power-equipment maker BHEL fell after data showed
it missed capacity-addition targets.
Refiners led by Sensex heaviest Reliance Industries following government decision to reduce gasoline prices, ra
fears of a dent in their revenues.
The broad-based NSE index Nifty fell 38.05 points to 5,030.45, after dipping to 4,989.50 in early stage.
However, the falling trend was cushioned on gains as the cut in petrol prices might check falling the vehicle sale
M&M rose 1.89 per cent, Tata Motors by 0.47 per cent and Bajaj Auto by 0.78 per cent.
Of the 30 BSE stocks, 19 declined while 11 ended in the positive zone. The capital goods sector suffered the mos
down 3.88 per cent, followed by power index by 2.02 per cent.
The oil and gas index lost 1.27 per cent.
Keywords: sensex, markets, BSE

17-Nov-2011 5:11 AM

The Hindu : Business / Markets : Sensex tumbles 314 points to hit 6-week low

1 of 1

http://www.thehindu.com/business/markets/article2635943.ece

Business Markets
Sensex tumbles 314 points to hit 6-week low
PTI

The Bombay Stock Exchange benchmark on Thursday touched a 6-week low as it fell 314 points on selling in
blue-chips, triggered by Reliance Industries, amid a string of dampeners like below-expected corporate earning
and weak trend in global markets.
The Sensex, which had lost 793 points in the last five sessions, dropped further by 314.16 points to 16,461.71,
reaching a level last seen on October 7.
The heaviest on the Sensex Reliance Industries tumbled by 4.51 per cent as funds reduced their holding am
reduction in fuel prices.
A weak trend in the Asian region and lower opening in Europe on concerns over the persisting euro-zone debt c
worsened the sentiment.
The National Stock Exchange index Nifty dipped below the 5,000 mark, losing 95.70 points to 4,934.75.
Brokers said trading sentiment was low as quarterly earnings by many frontline companies have come under
pressure on account of high interest rates and input costs.
Besides, they added, Fitch has warned that it might reduce its stable rating outlook for US banks with large c
markets businesses because of fears of contagion effect from European crisis.
The oil and gas sector index suffered the most by losing 3.39 points to 8,298.32, followed by power index by 2.8
cent to 1,988.09. The metal index fell by 2.48 per cent to 10,571.16 and realty index by 2.40 per cent to 1,633.10.
Of the 30 Sensex stocks, 27 closed with losses while three ended higher.
Keywords: Sensex, BSE, Nifty, NSE

17-Nov-2011 9:22 AM

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Despite posting a subdued performance on Friday, the markets were


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Today's Markets

52

The Dow Jones Industrial Average rose 25.4 points, or 0.22%, to


11,796, the S&P 500 fell 0.48 point, or 0.04%, to 1,216 and the Nasdaq
Composite slipped 15.5 points, or 0.6%, to 2,572.

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After sustaining powerful selloffs in the past two sessions, trading was
relatively calm on Friday. Still, the broad S&P 500 slid 3.8%, the
Nasdaq tumbled 4% and the Dow shed 2.9% for the week. The Nasdaq
and S&P are also now down for the year, while the blue chips are still in
positive territory.
On the day, Hewlett-Packard (HPQ: 27.99, +0.70, +2.56%) and
Boeing (BA: 67.46, +1.37, +2.07%) jumped more than 2%, while sliding
Chevron (CVX: 97.88, -2.20, -2.20%) and Microsoft (MSFT: 25.30, 0.24, -0.94%) proved to be a counterbalance.

25.30
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97.88
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On a broader level, utilities, consumer-driven stocks and basic materials


shares also performed well. In particular, fertilizer makers, like CF
Industries (CF: 151.68, +3.49, +2.36%) posted big gains on an upbeat
note for Lazard.

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19-Nov-2011

Page 2 of 4

Europe is Crumbling,
One Crisis at a Time

Technology shares were the worst-performing sector, pressuring the


tech-heavy Nasdaq. Indeed, technology heavyweight Microsoft
(MSFT: 25.30, -0.24, -0.94%) was one of the worst-performing Dow
components.

Show More

European 'Contagion' Fears Balloon, But Traders Hope for Action


Traders paid close attention to developments throughout on Europe's
deepening debt crisis throughout the week.
European officials have discussed the concept of having the European
Central Bank lend to the International Monetary Fund to give it the
requisite firepower to rescue large economies, like Italy, according to
multiple media reports. The ECB is the sole European institution that
has the power to create money, leaving it the best-poised to help some
of the continent's biggest economies that would require too much
funding for the types of bailouts that smaller countries like Greece have
received.
However, there are many political hurdles that could prevent such a
move, analysts say. The ECB has a single mandate: keep inflation at
the target level. The central bank technically isn't required to buoy the
economy, unlike, say, the U.S. Federal Reserve, which has a dual
mandate to keep both inflation and unemployment in check.
Additionally, major European countries, like Germany, have posed
strong opposition to the ECB getting involved more deeply in the crisis.

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Still, the central bank purchased Spanish and Italian debt in a bid to
keep yields under control, according to media reports. Both of those
countries are facing borrowing costs that are close to the levels Greece,
Ireland and Portugal had before requiring bailouts.
The euro jumped 0.35% to $1.351 on the news as traders hoped
Europe would take further steps to ease the crisis, falling from earlier
highs. Meanwhile, the U.S. dollar slumped 0.42% against a basket of
six world currencies.
Global policymakers, along with market participants, have been
concerned that the sovereign debt crisis that began in relatively small
economies with high public debt is beginning to materially affect much
larger ones by pushing up borrowing costs, which creates a perilous
feedback loop that increases the country's debt burden.
"Contagion has now happened," Louise Cooper, a senior analyst at
London-based BGC Partners said in an interview with FOX Business,
citing officials' inability to put a "firewall" around countries like Greece.
European blue chips were down 0.27%, shedding earlier losses.
Traders have also been paying close attention to energy markets,
where crude oil prices have been hovering about the $100 a barrel mark
for the first time in months.
The benchmark oil contract traded in New York skidded $1.41, or 1.4%,
to $97.41 a barrel. Wholesale RBOB gasoline slid 3 cents, or 1.1%, to
$2.47 a gallon.

http://www.foxbusiness.com/markets/2011/11/18/hopes-europe-will-take-actio...

19-Nov-2011

Page 3 of 4

Consumer gasoline prices have yet to be affected by the dramatic shift


in futures markets. A gallon of regular costs $3.38 on average
nationwide, down from the $3.44 drivers paid last week, but still well
higher than the $2.89 last year, according to the AAA Fuel Gauge
Report.
On the economic front, the Conference Board's leading economic
indicators gauge, aimed at forecasting future economic activity, rose
0.9% in October from the month prior -- notching a record high and
coming in three-tenths of one percentage point higher than economists
anticipated. This comes as yet another positive datapoint on the U.S.
economy that have helped economists overcome fears that America
may be headed for a double-dip recession.
Still, with Congress deadlocked on how to get the country's debt in
order, analysts remain only cautiously optimistic: "While domestic
economic risks have diminished, domestic political risks remain high," a
team of economists at IHS Global insight, led by Nariman Behravesh,
wrote in a note to clients.
U.S. government debt yields moved higher after falling in the prior
session. The benchmark 10-year note yields 2.017% from 1.965%.
Foreign Markets
European blue chips fell 0.27%, the English FTSE 100 fell 1.1% to
5,363 and the German DAX slumped 0.85% to 5,800.
In Asia, the Japanese Nikkei 225 slid 1.2% to 8,375 and the Chinese
Hang Seng sold off by 1.7% to 18,491.
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19-Nov-2011

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19-Nov-2011

The Hindu : Business News : Sensex falls 7th session in a row; down 90 ...

1 of 1

http://www.thehindu.com/business/article2639257.ece

Business
Sensex falls 7th session in a row; down 90 points
PTI

The Bombay Stock Exchange benchmark Sensex on Friday fell over 90 points, down for the seventh session in a
on continuing investor worries over slowing domestic growth and persistent euro zone debt crisis.
The Sensex, which had lost 1,107 points in last six sessions, fell further by 90.20 points, or 0.55 per cent to 16,3
Intra-day, it had lost 1.6 per cent before recovering some ground.
Similarly, the National Stock Exchange index Nifty fell 28.95 points, or 0.59 per cent to 4,905.80, after touchin
days low of 4,837.95.
Realty, FMCG, metal and auto sectors faced strong selling pressure amid slow growth and high interest rate
concerns.
Brokers said the benchmark dropped nearly 20 per cent this year and remained the worst performer among As
markets on heavy foreign funds outflow.
They said several stocks closed at 52-week lows.
A weak trend in the Asia and lower openings in Europe on deepening euro zone debt crisis further hit market
sentiment.
Weakening of the Indian rupee fell below Rs 51 per dollar but it did not lift the stocks of IT software services
exporters such as TCS and Infosys, which get more than half of their revenue from the U.S. and Europe.
The IT sector index fell 9.70 per cent to 5,614.13.
Of the 30 Sensex stocks, 18 closed with losses, while 12 ended in the positive zone.
Keywords: sensex, closing trade, BSE

19-Nov-2011 9:02 AM

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Stocks Thrashed by
Cascading Debt Fears

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European Debt Crisis

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Congressional Super
Committee Ends Talks
Without a Deal

On Air

Debt Super Committee

Business Leaders

Small Business

MARKET SNAPSHOT
U.S.

The so-called Super


Committee ended talks
Monday afternoon
without coming to an
agreement to cut the
U.S. deficit.

Europe

Asia

DJIA

1 day

11,547.31

-248.85

Nasdaq

2,523.14

-49.36

S&P 500

1,192.98

-22.67

855.56

-16.70

FOX 50

Hewlett-Packard 4Q
Results Top Views

Wall Street was pummeled as sovereign-debt anxiety cascaded through global


financial markets and sent traders scurrying into safe havens.

Hewlett-Packard
announced fourthquarter earnings and
revenue that beat the
Street, in the company's
first quarterly report
under CEO Meg
Whitman.
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Wall Street Thrashed by Cascading Debt


Fears; Dow Knocked Into Red for 2011
Written By Adam Samson

Published November 21, 2011

On Air

Debt Super Committee

Business Leaders

Small Business

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Trump Really Worth?

REUTERS

FOX Business: The Power to Prosper


Wall Street was pummeled on Monday, while recovering from the lows
of the session, as sovereign-debt anxiety cascaded through global
financial markets and sent traders scurrying into safe havens.
Today's Markets
The Dow Jones Industrial Average slid 249 points, or 2.1%, to 11,547,
the S&P 500 fell 22.7 points, or 1.9%, to 1,193 and the Nasdaq
Composite dropped 49.4 points, or 1.9%, to 2,523.

Is Amazon Prime
Preparing for a Price
Hike?

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Cuts Taxes for Some
of the Wealthy

The Economy Isn't


Healing, But Women's
Heels Are Shrinking

After weeks of headlines on Europe's debt debacle driving global equity


markets, Wall Street's attention has once again shifted to Washington.
All 30 components ended the day in negative territory, knocking the blue
-chip index into the red for 2011 and to its lowest level in a month. The
S&P 500, which is more closely watched by market participants, sunk
under the 1,200 mark for the first time since October and fell beneath an
important technical resistance point.
Financial and industrial shares took the biggest hit, but no major sector
finished the day unscathed. Volatility rose 2.8% on Monday, while U.S.
Treasury yields slumped as traders raced out of equity markets. The
benchmark 10-year note yields 1.963% from 2.012%.

Moody's Warns on
France's Rating
Outlook

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Week: Black Friday,
Christmas Movies,
ESP Music, Snacking
Stocks and TiVo

Global Debt Fears


Slam World Markets,
U.S. Futures

In a sign of the breadth of the selling on Wall Street, roughly nine out of
ten shares traded on the New York Stock Exchange were in declining
Has Aliaa Magda

http://www.foxbusiness.com/markets/2011/11/21/wall-street-slammed-by-ricoc... 21-Nov-2011

Page 2 of 5

Elmahdy's Nude
Photography Hurt the
Cause of Egypt's
Liberals?

issues.

Print
Email

Dj Vu: Debt Panel Deadlocked

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Like

Show More

A congressional Super Committee tasked with crafting a bi-partisan


solution to tackle the nation's mounting debt burden appeared stuck at a
stalemate with the deadline looming just days away. The 12-member
panel was mandated to craft the legislation as part a last-minute
agreement over the summer to raise the nation's debt ceiling, staving off
what could have been a costly default of American debt.

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A failure of the committee to enact the legislation will trigger $1.2 trillion
in Federal spending cuts that mostly take effect in 2013. Economists
say these cuts may be a substantial drag on the world's biggest
economy starting in that year, but the more immediate concern may be
to already jittery global financial markets that fear the political gridlock
will prompt another downgrade of American debt. Standard & Poor's
cut the country's top-notch rating over the summer, sparking a powerful,
global rout.

-3.62

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Analysts at Nomura warned clients in a note on Monday that the


markets' reaction this time around may be "difficult to predict," noting
that a "complete failure" may not be priced in, an indication that markets
across the world could be in for more selling if the effort totally
collapses.

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Still, the deep divide within the debt panel, and the ensuing indecision,
did not come as a complete surprise, many market participants say: The
"only surprising aspect to the selloff is that it hadnt already been
completely discounted," Ameriprise Chief Market Strategist David Joy
wrote in an e-mail.
Wall Street posted its worst weekly performance in nearly two months
last week, with the Dow shedding close to 3%, and the broader S&P
500 and Nasdaq tumbling nearly 4%.

Stocks Dive on Fears of


Debt Committee Failure

Trustee: MF Global
Shortfall Could Top $1.2B

Midday Market Report:


11/21

Market participants were also grappling with continued uncertainty on


Europe's debt crisis. Moody's warned on Monday that climbing debt
yields and a dimming economic picture could be negative for its outlook
on French debt. France is the euro zone's second-biggest economy
and one of the currency bloc's six triple-A rated nations.
Credit Suisse also issued a note to clients saying the currency bloc has
entered its "last days" as we know it, adding the European Union will
likely need to take "extraordinary" measures by early next year to keep
the crisis from imperiling even the continent's strongest banks.
The European Council is set to unveil a proposal for so-called euro
bonds, which would be joint euro zone debt issuance, according to a
report by The Wall Street Journal. Germany, the bloc's economic
powerhouse, has repeatedly rebuked such plans that are highly
unpopular from a political perspective in that country. The EC's plan is
yet another sign that Europe is struggling to contain its crisis that started
in its debt-laden periphery from striking at its core.
European blue chips plunged 3.2%, while the euro rose 0.02% to
$1.351.
Wall Street Shrugs Off Upbeat Data

http://www.foxbusiness.com/markets/2011/11/21/wall-street-slammed-by-ricoc... 21-Nov-2011

Page 3 of 5

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Expedia Buys China's
eLong for $72M

Existing home sales unexpectedly climbed in October from the month


prior. The National Association of Realtors said sales of previouslyoccupied, single-family homes jumped 1.4% to an annualized unit rate
of 4.97 million, topping expectations of a 2.2% decrease. Stocks were
little changed on the report.
The housing industry has been hit hard by a high supply of houses on
the market, stubbornly-low prices and still-tight lending conditions.
Energy markets were mixed despite big losses in equity markets. The
benchmark crude oil contract traded in New York slid $1.41, or 1.4%, to
$97.41 a barrel. Wholesale RBOB gasoline fell 1 cent, or 0.43%, to
$2.49 a gallon.
In metals, gold dropped $46.50, or 2.7%, to $1,679 a troy ounce.
Corporate News
Gilead Sciences (GILD: 36.26, -3.62, -9.08%) revealed plans to
acquire Pharmasset (VRUS: 134.14, +61.47, +84.59%) in a deal
valued at $10.4 billion. Gilead's $137 a share offer represents an 89%
premium to the viral-drug maker's closing price on Friday.
Alleghany (Y: 293.01, -21.25, -6.76%) is buying Transatlantic Holdings
(TRH: 54.84, +0.41, +0.75%) for $3.4 billion in cash and stock.
Foreign Markets
European blue chips plunged 3.2%, the English FTSE 100 fell 2.4% to
5,233, and the German DAX slid 3.2% to 5,505.
In Asia, the Japanese Nikkei 225 dipped 0.32% to 8,348 and the
Chinese Hang Seng slid 1.4% to 18,226.

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This material may not be published, broadcast, rewritten, or redistributed. 2011 FOX News Network, LLC. All rights reserved.

http://www.foxbusiness.com/markets/2011/11/21/wall-street-slammed-by-ricoc... 21-Nov-2011

The Hindu : Business / Markets : Sensex tanks 425 points

1 of 2

http://www.thehindu.com/business/markets/article2647273.ece?homepage...

Business Markets
Sensex tanks 425 points
Special Correspondent

The Hindu Stockbrokers react as they monitor share prices at a brokerage firm in Mumbai. File photo

The Bombay stock Exchange (BSE) 30-share index, Sensex, dipped by 425.41 points to close below the 16000-m
on Monday due to a host of issues, including the European debt problems and the unresolved U.S. debt issue.
The Sensex closed at 15946.10 a fall of 2.60 per cent. Metal stocks led the fall with 3.46 per cent followed by ban
shares at 3.24 per cent. The broad-based National Stock Exchange's 50-share Nifty fell by over 125 points to 47
This was the eighth consecutive day of fall for the equities.
Markets began on a weak note on subdued global cues. However, selling gained momentum progressively
throughout the day. Key European markets were also trading lower by around 2 per cent, which added to the ov
selling pressure. There were also reports that the U.S. super committee has not been able to arrive at a consens
the deficit cutting plan, which made markets nervous. Further, the fall in India's GDP (gross domestic product)
growth is a major concern for investors in Indian equities. Bank of America Merrill Lynch has cut its India GDP
growth estimate for 2012-13 by 30 basis points to 7.2 per cent.
The sell-off was broad-based and the market breadth was highly negative. Among sectoral indices, metals, bank
realty and power utilities lost heavily. Among individual heavyweights, Bharti Airtel (on reports of CBI raids on
offices) and Reliance Industries were down 2 per cent each, said Dipen Shah, Head-Fundamental Research, Ko
Securities. In the next couple of days, focus will shift to the U.S., wherein the Super Committee' has to come up
a solution on deficit reduction by November 23 (Wednesday). If an acceptable decision is not reached, it may h
far-reaching consequences on the U.S. ratings.
PTI reports:
The Sensex has lost 1623.43 points or 9.24 per cent in eight straight sessions, destroying nearly Rs. 5.50 lakh cr
worth of investor wealth in the process.
Domestically, below-expected corporate earnings posted for the second quarter, high interest rate regime to co
inflation and lack of major policy initiatives have affected sentiment.
Keywords: BSE, NSE, Sensex, Nifty, euro zone crisis

21-Nov-2011 12:34 PM

Debt, Economic Fears Pound Wall Street; S&P Slumps for Sixth Day | Fo...

2 of 6

http://www.foxbusiness.com/markets/2011/11/23/debt-economic-fears-ro...

FOLLOW FOX BUSINESS


foxbusiness
Written By Adam Samson

Published November 23, 2011

/LNH

FOXBusiness

6LJQ8S WRVHHZKDW\RX
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FOX Business: The Power to Prosper

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Wall Street was haunted by the specter of Europe's debt crisis


poisoning major global economies, shoving the broad S&P into
the red for the sixth-straight session.

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Today's Markets

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The Dow Jones Industrial Average fell 236 points, or 2.1%, to


11,258, the S&P 500 dipped 26.3 points, or 2.2%, to 1,162 and
the Nasdaq Composite slid 61.2 points, or 2.4%, to 2,460.

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Wall Street has been fixated on the euro zone debt crisis,
which is increasingly becoming a global debacle. Indeed, the
broad S&P 500 fell for its sixth-straight day on Wednesday in a
sign that investors are growing wary of the rapid contagion.

(Daily Finance)
Germany,
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World Stock
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Worries
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Red
Show M

On the day, financial, energy and materials shares sustained


the heaviest selling as a result of the European jitters. Indeed,
Bank of America (BAC: 5.14, -0.23, -4.28%) and Alcoaa (AA:
8.88, -0.38, -4.10%) were among the worst-performing blue
chips.
Volatility climbed 4.5% and yields on U.S. government debt fell
as traders fled equity markets. The yield on the benchmark
10-year U.S. Treasury note fell to 1.878% from 1.92%.
Meanwhile, the price to insure BofA's debt hit the highest level
since October, while the cost of insuring other banks' debt rose

23-Nov-2011 4:36 PM

Debt, Economic Fears Pound Wall Street; S&P Slumps for Sixth Day | Fo...

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An auction of German 10-year bonds was seen as dismal: the


country attempted to raise raise 6 billion euros but only
managed to drum up 3.889 billion euros, representing a 35%
shortfall. This was the worst demand ever for 10-year German
debt. The European Union's biggest economy had previously
been seen as a safe haven during the crisis, and this
development represents a dangerous development for the
crisis that is already in its second year.
"This is a warning shot to Germany" to do more to support the
17-member euro currency bloc, and calm jittery debt markets,
Kathleen Brooks, research director for FOREX.com, said in an
interview with FOX Business.
The yield on the 10-year German bund rose close to 2%, while
other euro zone countries saw borrowing costs continue to rise
as well. Of particular concern have been Italy and Spain -both of which have seen benchmark yields near the
closely-eyed 7% level.
Standard & Poor's warned on Wednesday that the euro zone
may face a recession if debt yields remain high, potentially
creating a feedback loop that can bring more pain to highlyindebted countries there.
European blue chips tumbled 1.9% while the euro plummeted
1.1% to $1.337 -- the lowest level since October.
Chinese Manufacturing Data Disappoint
Also concerning for market participants is a preliminary
reading of Chinese manufacturing data in November. The
Markit/HSBC Flash China Manufacturing gauge took its
swiftest fall since March 2009, showing manufacturing in the
world's second-biggest economy is now contracting. A
separate report showed the euro zone economy may contract
between 0.5% to 0.6% in the fourth quarter.
Market participants also parsed through a round of mixed data
on the U.S. economy.
New claims for unemployment benefits climbed to 393,000 last
week from a revised 391,000 the week prior. Economists had
expected claims to rise to 390,000 from an initially reported
388,000. The labor market has been slow to improve after
being slammed during the economy downturn.

23-Nov-2011 4:36 PM

Debt, Economic Fears Pound Wall Street; S&P Slumps for Sixth Day | Fo...

4 of 6

http://www.foxbusiness.com/markets/2011/11/23/debt-economic-fears-ro...

Meanwhile, orders for long-lasting goods fell 0.7% in October


from the month prior, a shallower fall than the 1% decline
economists forecast. Excluding the transportation component,
orders were up 0.7% compared with estimates of no change.
These data figure directly into broader calculations of
economic growth.
Personal spending rose 0.1% in October from September, less
than the 0.4% economists had expected, while personal
income rose 0.4%, slightly higher than the 0.3% expected.
A final reading on consumer sentiment for the month of
November checked in at 64.1, slightly less than a preliminary
reading of 64.2 and below estimates of 64.5, according to a
survey by Thomson Reuters and the University of Michigan.
Still, sentiment in November is at the highest level since June.
The consumer portion of the economy is one of the most
important components, so these data can have a particularly
strong impact.
Commodities in the Red
Energy markets were in the red despite a mixed inventory
report from the Energy Department. The report was bullish for
oil yet bearish for gas. Crude inventories fell 6.2 million barrels,
compared with the 500,000 barrel build analysts expected. Oil
stocks jumped 4.5 million barrels much bigger than the 1.1
million barrel build that was predicted.
The benchmark crude oil contract traded in New York fell
$1.84, or 1.9%, to $96.17 a barrel. Wholesale RBOB gasoline
fell 4 cents, or 1.7%, to $2.52 a gallon.
In metals, gold fell $6.50, or 0.38%, to $1,696 a troy ounce.
Foreign Markets
European blue chips fell 1.9%, the English FTSE 100 slid 1.3%
to 5,140 and the German DAX tumbled 1.4% to 5,458.
In Asia, the Japanese Nikkei 225 fell 0.4% to 8,315 and the
Chinese Hang Seng plunged 2.1% to 17,864.
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Industries
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Reuters Big Pharma Equals Big
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Wall Street

Investing
Wall Street was haunted by the Don't Sweat Germany's Weak
specter of Europe's debt crisis Bond Offering
poisoning major global
economies, shoving the broad
S&P into the red for the sixthstraight session.

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Police
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The Economy? Caribbean CEO

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Global

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Boomi
Franch
Magno

Race for 2012 continues


Bakery

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Audio: Radio
Update: Stocks
spill more red
ink at close

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lower on Europe
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highlight broad
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A Brief History of
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Are PCs Now
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23-Nov-2011 4:36 PM

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23-Nov-2011 4:36 PM

The Hindu : Business News : Sensex dips to over 2-year low; down 365 p...

1 of 1

http://www.thehindu.com/business/article2652754.ece

Business
Sensex dips to over 2-year low; down 365 points on fund outflow
PTI

PTI The 30-share barometer, which opened 220 points lower, Sensex, fell 365.45 points to 15,699.97, a level seen on Novemb
2009. File photo

The Bombay Stock Exchange benchmark Sensex on Wednesday dropped to more than two-year low, down 365
points, as investors squared positions ahead of the monthly settlement in derivative contracts amid heavy fund
outflows and weak global markets.
Sensex, which gained 119 points on Tuesday, fell 365.45 points to 15,699.97 level seen on November 3, 2009.
had touched a low of 15,478.69 before the partial recovery. Before Tuesdays gain, the market had lost nearly 10
cent in eight straight sessions.
The broad-based National Stock Exchange index Nifty tumbled 105.90 to 4,706.45, after touching 4,640.95.
Brokers said investors sold heavily while clearing pending positions ahead Thursdays settlement in this month
derivative contracts and weak cues from Asian and European equities markets.
IT, industrial and financial stocks led the slide on weak global trend as the U.S. economy expanded at a rate bel
market expectations during the third quarter, they added.
The overall market fall was cushioned somewhat as shares of telecom operator RCom and real estate firms DB
Realty and Unitech recovered after the Supreme Court granted bail to their executives in the 2G spectrum case.
Keywords: BSE, NSE

23-Nov-2011 8:10 AM

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Published December 14, 2011

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Wall Street succumbed to heavy selling led by energy shares,


sliding for the third-straight day, as commodities across the
board nose dived.

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The Dow Jones Industrial Average skidded 131 points, or


1.1%, to 11,823, the S&P 500 fell 13.9 points, or 1.1%, to 1,212
and the Nasdaq Composite dipped 40 points, or 1.6%, to
2,539.
Energy stocks took a beating on the day on the back of a rout in
commodities markets. However, Caterpillar (CAT: 87.00,
-3.98, -4.37%), the heavy-machinery behemoth, actually
performed the worst out of the Dow components. Chevron's
(CVX: 100.53, -3.09, -2.98%) losses were amplified after
Brazilian authorities asked the energy company to suspend
activities in the country in the wake of an oil spill last month.
Transocean (RIG: 40.19, -1.65, -3.94%) was involved in the
suit as well.
Despite the heavy selling, blue chips Pfizer (PFE: 20.86,
+0.10, +0.48%), Travelers (TRV: 55.97, +0.04, +0.07%) and
Wal-Mart (WMT: 57.65, +0.05, +0.09%) ended higher. Verizon
(VZ: 38.26, 0.00, 0.00%) was unchanged.
The Dow has shed some 361 points, or 2.96%, in the steepest

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15-Dec-2011 8:26 AM

Wall Street Slammed by Plunging Commodity Prices | Fox Business

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100.53
-3.09

Commodities Rout
The leading crude oil contract tumbled $5.19, or 5.2%, to
$94.95 a barrel -- the biggest drop since September. Crude is
still up by nearly 4% for the year, but is off 5.4% in what has
been a rocky trading month. Wholesale RBOB gasoline dipped
4.6% to $2.50 a gallon.

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Crude inventories fell 1.93 million barrels last week according


to the Energy Department, compared to an expected 2 million
barrel draw. Gas stocks, meanwhile, climbed 3.82 million
barrels, larger than the forecast 1.7 million-barrel build. The
Organization of Petroleum Exporting Countries has agreed on
a 30 billion barrel per day cap on oil output that would include
all 12 members of the cartel.
Gold dropped $76.20, or 4.6%, to $1,587 a troy ounce. Gold's
loss was the biggest since September and the fourth-steepest
dive on record on a dollar basis. The precious metal has now
shed $128.50, or 7.5%, in the past three sessions alone, and is
down close to 10% for the month. However, the metal is still up
11.5% for the year.
Copper, a closely-eyed industrial metal, slid 4.6% to $3.29 a
pound.
Europe Still in Focus
Headlines from Europe have been a major factor in financial
markets' gloomy sentiment. Traders have been paying
especially close attention to bond auctions amid worries major
economies, such as Italy, the eurozone's third biggest, may end
up paying painfully-high borrowing costs on the private
market.
Italy sold 3 billion euro of five-year bonds at 6.47% -- a
euro-era high -- and nearly 20 basis points higher than it had to
pay at its last offering for the same notes. Italy has to refinance
a substantial level of debt next year, and if it is unable to do so
on the private markets at reasonable rates, it may require a
rescue, analysts say. The country's benchmark 10-year note
presently yields 7.09%, above the psychologically important
7% mark.
Also on the European front, a German consultancy trimmed its
expectations of the country's 2012 economic output, raising
concerns that Europe's economic powerhouse isn't immune to

15-Dec-2011 8:26 AM

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headwinds from the debt crisis. The Ifo institute expects the
country's economy to grow at 0.4% next year, or even slower if
the debt crisis gets worse, which is half the pace it forecast in
October.

Playing the
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The euro is trading at the lowest level since January, and


continuing to trend lower. The common currency recently fell
0.32% to $1.2989. The greenback, meanwhile, rose 0.59%
against a basket of six world currencies. European stocks fell
2.4%.

Will Gold, Oil


Continue Their
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Reform?

On the economic front, import prices climbed for the first time
since July in November, led by a 3.6% jump in the cost to
import petroleum prices. Overall, import prices rose 0.7%, a
smaller gain than the 0.9% increase economists expected,
while export prices gained 0.1%, also slimmer than the 0.3%
forecast. As compared to last year, import prices have soared
9.9%, while export prices have risen 4.7%.
Investors bought U.S. Treasuries, knocking yields lower. The
benchmark 10-year note yields 1.908% from 1.969%.
Foreign Markets
European blue chips fell 2.4%, the English FTSE 100 dipped
2.3% to 5,367 and the German DAX fell 1.7% to 5,675.

How Investors
Can Weather the
Stormy Markets

In Asia, the Japanese Nikkei 225 slipped 0.39% to 8,519 and


the Chinese Hang Seng slumped 0.5% to 5,696.

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15-Dec-2011 8:26 AM

The Hindu : Business / Markets : Sensex tumbles by 223 points to three-w...

1 of 2

http://www.thehindu.com/business/markets/article2716746.ece

Business Markets
Sensex tumbles by 223 points to three-week intra-day low
PTI

The Hindu A stock broker reacts at a brokerage firm in Mumbai. File photo

The BSE benchmark Sensex tumbled by 223 points to a nearly three-week intra-day low of 15,658.16 in early tra
on Thursday due to persistent selling pressure amid sustained foreign fund capital outflows and weak Asian cu
The 30-share Sensex resumed lower at 15,739.05 and hovered in a range between 15,795.84 and 15,655.64 befor
quoting at 15,658.16 at 1015 hours, a net loss of 222.98 points, or 1.40 per cent, from its previous close.
The NSEs 50-share Nifty index was also down by 62.65 points, or 1.32 per cent, to 4,700.60 at 1015 hours.
Metal stocks declined after data showed that Chinese manufacturing activity continued to contract in Decembe
2011, with Sterlite Industries, Hindustan Copper, Steel Authority of India (Sail) and JSW Steel hitting 52-week
The major losers in early trade were Bharti Airtel (down 3.97 per cent), Hindalco Industries (3.69 per cent), Ma
(3.47 per cent), Larsen (3.06 per cent), BHEL (2.94 per cent) and Sterlite Industries (2.88 per cent).
Foreign institutional investors (FIIs) sold shares worth Rs 140.13 crore yesterday, as per provisional data from
stock exchanges.
Asian stocks fell for a third day today as the latest data on manufacturing activity in China and Japan highlight
weak conditions in Asias two largest economies even as growing funding stress in Italy stoked concerns that Eu
is losing its fight to contain the debt crisis.
The key benchmark indices in China, Hong Kong, Indonesia, Japan, Singapore, South Korea and Taiwan were
by between 1.03 per cent and 1.84 per cent.
Keywords: BSE, NSE, Sensex, Nifty, Rupee value
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15-Dec-2011 8:32 AM

The Hindu : Business / Markets : Sensex tumbles to two-year low despite...

1 of 2

http://www.thehindu.com/business/markets/article2720713.ece

Business Markets
Sensex tumbles to two-year low despite RBIs pause in rate hike
PTI

PTI Marketmen said investors were expecting RBI to lower it from 6 per cent to infuse liquidity in the market. File photo

Erasing initial gains, the Bombay Stock Exchange benchmark Sensex today fell to 2-year low, losing 345 points
RBI expressed concerns over growth but did not ease liquidity, although it paused lending rate hike.
Initially, Sensex gained nearly 150 points but fell sharply to end with a loss of 345.12 points, or 2.18 per cent to
15,491.35, a closing levels last seen on November 3, 2009.
Similarly, the broad-based National Stock Exchange index Nifty lost 92.75 points to 4,651.60.
The last hour selling followed the Reserve Banks raising flag on growth concerns, but left Cash Reserve Ratio (C
unchanged. Marketmen said investors were expecting RBI to lower it from 6 per cent to infuse liquidity in the
market.
Growth is clearly decelerating. This reflects the combined impact of several factors the uncertain global
environment, the cumulative impact of past monetary policy tightening and domestic policy uncertainties, the
said in monetary policy review.
After raising lending rates 13 times since March 2010 to tame inflation, RBI finally put a pause on the hike whic
was a market positive, they added.
Reliance Industries, Sensex heavyweight, lost 3.43 per cent and L&T, 5.33 per cent. State Bank of India was dow
3.67 per cent and Sterlite Industries, 4.28 per cent.
Others losers included BHEL, Coal India, DLF, HDFC Bank, Hero MotoCorp, ICICI Bank, TCS, Tata Steel and
Power.
All the 13 sectoral indices ended with losses of up to 4.36 per cent, while 27 of the 30 Sensex stocks closed with
losses.
Keywords: share markets, stock markets
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16-Dec-2011 9:12 AM

The Hindu : Business News : Sensex down 204 points on weak rupee, glo...

1 of 1

http://www.thehindu.com/business/article2731933.ece

Business
Sensex down 204 points on weak rupee, global cues
PTI

PTI Sensex fell for the fifth straight day to touch a new 28-month low.

The Bombay Stock Exchange benchmark Sensex on Tuesday fell for the fifth straight day to touch a new 28-mo
low by losing 204 points on sustained selling by funds amid slowing economic growth and weakening rupee.
The BSE 30-scrip index, which had lost over 623 points in last four sessions, fell another 204.26 points or 1.33
cent to 15,175.08, the level last seen on August 20, 2009.
The broad-based NSE index Nifty fell 68.90 points or 1.49 per cent to 4,544.20.
The downtrend was led by index heavyweights RIL, Infosys as well as stocks of capital goods, metals and realty
Reliance Industries lost 3.03 per cent and Infosys 0.25 per cent.
Brokers said investors were concerned over the slowdown in the economy and the falling rupee, which has decl
to Rs 53.03 per US dollar from Rs 45 a few months ago, making imports costly.
Globally, the markets were mixed.
L&T dropped 5.14 per cent to its lowest close since May 15, 2009. Tata Motors was down 2.79 per cent, Jaiprak
Associates fell 7.26 per cent and Tata Steel by 5.27 per cent.
The capital goods sector suffered the most by falling 3.50 per cent to 7,848.99, followed by the metals index 3
per cent to 9,275.13. The realty index fell 2.71 per cent to 1,367.39.
Keywords: Bombay Stock Exchange
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20-Dec-2011 8:05 AM

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Banks Selloff Dashes Hopes for Santa


Claus Rally; Dow Drops 100
Written By Matt Egan

European Debt Crisis

Published December 19, 2011

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Hopes for the start of a bullish Santa Claus rally were shattered on
Monday as renewed jitters about the prospects for financial stocks like
Bank of America sent the Dow careening 100 points lower and the
Nasdaq Composite slumping 1.3%.
Today's Markets
The Dow Jones Industrial Average fell 100.13 points, or 0.84%, to
11766.26, the Standard & Poor's 500 lost 14.31 points, or 1.17%, to
1205.35 and the Nasdaq Composite sank 32.19 points, or 1.26%, to
2523.14.
Without any major economic reports on the agenda, U.S. markets were
focused on the ugly selloff in the financial sector and a number of global
events, including the death of North Korean leader Kim Jong Il.
Typically investors can look forward to a Santa Claus rally during the
last two weeks of December thanks to low trading volumes ahead of the
holiday and maneuvering by portfolio managers before year end.
However, Monday's losses leave the Dow in the red for the fifth time in
the last six sessions and add to last week's 2.6% tumble.

http://www.foxbusiness.com/markets/2011/12/19/banks-selloff-dashes-hopes-f... 20-Dec-2011

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Homebuilder Sentiment at
Highest Level Since May
2010

http://www.foxbusiness.com/markets/2011/12/19/banks-selloff-dashes-hopes-f... 20-Dec-2011

Page 3 of 4

plunged as much as 4.4% before settling down 3.4% at a four-week low.


Likewise, markets in Japan and Hong Kong closed sharply lower.
In the commodities market, crude oil fell 35 cents a barrel, or 0.37%, to
$93.88. Gold declined $1.20 a troy ounce, or 0.08%, to $1,594.40.
Corporate Movers
Winn-Dixie (WINN: 9.24, +3.81, +70.17%) reached a $530 million deal
to be sold to fellow Southeastern supermarket owner BI-LO. The deal is
worth $9.50 a share, representing a lofty 75% premium on Winn-Dixies
Friday close.
AT&T's (T: 28.74, -0.11, -0.38%) efforts to sell T-Mobile assets to
placate regulators have gone cold, casting further doubt on the $39
billion deal, the Journal reported. Alternatives to a full-blown merger
such as a joint venture to share network technology or a minority stake
appear more likely, the paper reported.
Xilinx (XLNX: 30.61, -0.60, -1.92%) slashed its fiscal third-quarter sales
guidance, projecting a 9% to 12% drop due to a decline in large
customer business. Previously, the company projected a reduction of
3% to 8%.
Global Markets
The British FTSE 100 fell 0.41% to 5364.99, Frances CAC 40 gained
0.06% to 2974.20 and Germanys DAX lost 0.54% to 5670.71.
In Asia, Japans Nikkei 225 slumped 1.26% to 8296.12, while Hong
Kongs Hang Seng declined 1.18% to 18070.20.
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The Hindu : Business / Markets : Sensex slips 146 points

1 of 1

http://www.thehindu.com/business/markets/article2754709.ece

Business Markets
Sensex slips 146 points
PTI

Continuing its year-end downslide for the second day in a row, the stock market today lost further ground with
146-point fall in the barometer Sensex amid weakness in blue-chips like RIL, ICICI Bank and SBI.
The 30-share benchmark index settled with a 146.10 points or about 0.92 per cent fall at 15,727.85 points.
The National Stock Exchanges 50-share Nifty index also dropped 0.94 per cent or 44.70 points to close at 4705
Among the heavyweights, ICICI Bank, Reliance Industries Ltd (RIL), ITC, SBI and HDFC were among the majo
losers, even as IT giant Infosys and publicsector majors NTPC and BHEL managed to buck the trend and
registered gains.
Among the 30 Sensex stocks, Jindal Steel was the biggest loser with a fall of over 7 per cent, while ICICI Bank fe
about 4 per cent.
SBI, Wipro, M&M and Hindalco lost over two per cent each, while RIL was down 1.95 per cent.
Stocks said that banking stocks are being hit on concerns that the bad loans might be increasing due to slowdow
the economic growth.
The stocks that managed to gain ground in a weak market also included Tata Power, Cipla, DLF and Coal India
Among the sectoral indices, metal, banking, energy, auto and FMCG segments were among the worst-hit, while
indices for power and capital goods sectors were the only two gainers.
The stock market has been trading mostly with a downward bias so far in December, although the last month o
year has traditionally been a strong period.
Keywords: sensex, BSE, closing trade
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precious metal, plunged 5.2% to $27.19 a troy ounce.
Oil prices fell as well after rallying to the highest level since midNovember on Tuesday after Iran threatened to cut off the flow of oil
through a key shipping channel in the Gulf. The benchmark crude oil
contract traded in New York slid $1.98, or 2%, to $99.36 a barrel.
Wholesale RBOB gasoline fell 1.4% to $2.651 a gallon.
Energy and basic material shares fell sharply as a result. Financial and
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Market participants were also focusing on Europe with no major U.S.


economic reports on tap for the day.
Italy paid 3.251% to sell roughly $11.8 billion in six-month bonds at its
auction on Wednesday, representing a steep drop from the 6.504% it
paid at a similar offering in November. Demand was also relatively
strong, meaning investors are moving back into the beleaguered
sovereign debt market.
The country has an auction of long-term bonds slated for Thursday that
is expected to be closely watched on Wall Street. There have been
worries that as traders have fled the European sovereign debt
marketplace, borrowing costs will continue spiking and potentially
shoving borrowing rates well above sustainable levels.
The benchmark 10-year Italian note presently yields 6.79% -- which is
elevated, but well off of euro-era highs above the 7% threshold.
Foreign Markets
European blue chips fell 1.5%, the English FTSE 100 edged lower by
0.1% to 5,507, and the German DAX slumped 2.1% to 5,771.
In Asia, the Japanese Nikkei 225 fell 0.2% to 8,424 and the Chinese
Hang Seng dipped 0.59% to 18,519.

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28-Dec-2011

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http://www.foxbusiness.com/markets/2011/12/28/sea-red-on-wall-street-sp-tur...

28-Dec-2011

The Hindu : Business / Markets : Sensex extends losses, down 72 points i...

1 of 1

http://www.thehindu.com/business/markets/article2757132.ece

Business Markets
Sensex extends losses, down 72 points in opening trade
PTI

The BSE benchmark Sensex extended its losses for the third consecutive session on Thursday losing over 72 po
in opening trade on sustained selling by funds amid a weakening trend on other Asian bourses.
The 30-share Sensex, which has lost almost 243 points in the past two trading sessions, fell further by 72.57 po
or 0.46 per cent, to 15,655.28 in the first five minutes of trade today.
In a similar fashion, the wide-based National Stock Exchange Nifty index declined by 19.20 points, or 0.41 per
to 4,686.60. Banking, IT, metal and realty stocks led the fall.
Brokers said sustained selling by funds amid a weakening trend on other Asian bourses in tandem with overnig
losses in the US mainly influenced the trading sentiment.
In the Asia region, Hong Kongs Hang Seng index fell by by 1.21 per cent and Japans Nikkei index by 0.73 per c
in morning trade today. The US Dow Jones Industrial Average ended 1.14 per cent lower in Wednesdays trade.
Keywords: Sensex opening trade
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29-Dec-2011 5:37 PM

Biggest drop of year for Dow as US market slumps - Yahoo! News

1 of 2

http://news.yahoo.com/biggest-drop-dow-us-market-slumps-160406078.html

By JOSHUA FREED | Associated Press Tue, Mar 6, 2012

Stocks suffered their biggest losses of the year Tuesday as a sell-off spread west from Europe ahead of a critical deadline in
the Greek debt crisis. The Dow Jones industrial average fell more than 200 points.
The Dow has not closed down more than 100 points this year, and its biggest one-day decline had been 159 points, on Jan.
13. It fell sharply from the opening bell Tuesday and was down as much as 208.
Just before 1 p.m. EST, the Dow was down 199 points, or 1.5 percent, at 12,763. The Standard & Poor's 500 index was down
20 points at 1,344, and the Nasdaq composite index was down 43 points at 2,908.
Stocks fell more than 3 percent in Germany, Spain and France, and 1.9 percent in Britain. Thursday is the deadline for
private investors to sign up to swap their Greek government bonds for replacements with a lower face value and interest
rate.
Major banks and investment funds have signed on for the swap, but it remains unclear whether hedge funds, which had
already bought the bonds at a steep discount and may profit from bond insurance payouts if Greece defaults, will agree.
The swap is vital for Greece to cut its debt and get a bailout of 130 billion, or $172 billion, from other countries and the
International Monetary Fund. Without the bailout, Greece could default on its debt later this month and rattle markets
around the world.
In the U.S., worries about Greece come on top of concerns about a recession in Europe and slowing economic growth in
China. Some investors also believe the rally in U.S. stocks this year the Standard & Poor's 500 is up almost 7 percent
has come too far too fast.
The Dow has not closed down 100 points in 45 straight trading sessions, the longest streak since 2006. On Tuesday, all but
one of the 30 stocks that make up the average, Kraft Foods, declined as the Dow appeared ready to break the streak.
Caterpillar, which makes heavy equipment and depends heavily on China for profits, fell 4.2 percent, the worst of the Dow
30. All 10 industry groups in the S&P 500 were lower, with materials stocks and banks leading the decline.
Bill Stone, chief investment strategist for PNC Wealth Management, called Tuesday's decline "fairly rational," considering
how much the market has climbed and the economic worries in Greece and the rest of Europe.
"You need the pullback to give people opportunities to want to get involved again," Stone said.
Oil prices slipped $1.71 to $105.01 per barrel on the New York Mercantile Exchange. New York crude has risen from $96
last month amid fears of a disruption in global oil supplies driven by the potential for military conflict with Iran.
The price of gold fell $36 per ounce, or 2.1 percent, to $1,668 per ounce. Silver, platinum and copper all fell more than 2
percent, because of concerns about Europe and weaker economic demand in China.
"Global growth fears now are hitting home, and we're seeing selling across the board," said Matt Zeman, a market analyst
for Kingsview Financial.
Yields on U.S. government debt also fell as investors moved their money into what they perceive to be a safer asset. The
yield on the benchmark 10-year Treasury note fell to 1.94 percent from 2.01 percent late Monday. Bond yields fall when
their prices rise.

19-Apr-2012 7:26 PM

Biggest drop of year for Dow as US market slumps - Yahoo! News

2 of 2

http://news.yahoo.com/biggest-drop-dow-us-market-slumps-160406078.html

Among stocks making big moves:


Weight loss company Nutrisystem Inc. fell 11 percent after it reported a bigger-than-expected fourth-quarter loss and a
disappointing outlook.
General Motors fell 5.5 percent after saying it will pay 304 million, or $402 million, for a 7 percent stake in Peugeot,
which will make it the French carmaker's second-largest shareholder after the Peugeot family.
VeriFone Systems Inc. rose 5.4 percent after the maker of electronic payment systems predicted a bigger-than-expected
2012 profit.
Apple fell 1.1 percent one day before the expected release of its iPad 3 tablet computer.
___
AP Business Writer Sandy Shore contributed to this story.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Copyright 2012 Yahoo! Inc. All rights reserved. | Yahoo! - ABC News Network | /

19-Apr-2012 7:26 PM

Stocks: A brutal day in an otherwise solid year - Mar. 6, 2012

Page 1 of 2

Stocks: Worst day of 2012


By Ben Rooney @CNNMoneyMarketsMarch 6, 2012: 4:49 PM ET

Click for more market data.

NEW YORK (CNNMoney) -- Investors took a big step back Tuesday, but stocks have had a pretty strong year so far, so the
retreat isn't ringing any alarm bells.
"You're still seeing echoes of the risk-on-risk-off trade," Jonathan Lewis, chief investment officer at Samson Capital
Advisors. "But I would offer that all investors are doing is restructuring and rebalancing portfolios."
Since the start of the year, stocks have slowly and steadily made their way toward their highest levels since 2008, helped
along by the U.S. economy's steady improvement.
While March has not been a good month so far, the Dow is still up 4.4% for the year. The S&P 500 has gained nearly 7%
and the Nasdaq is up 11.7% year to date.
Stocks were pressured Tuesday by weaker economic data out of Europe and rising yields on euro-area government bonds,
said Lewis.
The Dow Jones industrial average ( INDU) fell 207 points, or 1.6%, to end at 12,759. That marks the worst day for the
index since Dec. 8, when it fell 1.63%. Today also marks the first time the Dow has suffered a triple-digit loss in 45 days.
Financial stocks were among the hardest hit, with Bank of America ( BAC, Fortune 500) and JPMorgan Chase ( JPM,
Fortune 500) both down about 3%. The only Dow component showing a modest gain was Intel ( INTC, Fortune 500).
The S&P 500 ( SPX) fell 21 points, or 1.5%, to 1,343. The Nasdaq ( COMP) sank 40 points, or 1.4%, to 2,910. Both
indexes suffered the worst one-day performance so far this year.
Gas prices: If you can't beat 'em, join 'em
Meanwhile, investors are wary of political tension between Iran and Israel, which has driven oil and gas prices sharply
higher, said Mark Martiak, senior wealth strategist at Premier Financial Advisors.
"It's more based on what's going on globally," said Martiak, pointing to unresolved debt issues in Europe and signs of
slowing economic growth in China.
U.S. stocks finished in the red Monday, after China lowered its annual growth target.
Investors are also keeping an eye on Greece, where private-sector bondholders need to officially agree to a crucial
restructuring of the nation's debt this week. If bondholders do not sign on in sufficient numbers, Greece's bailout could be in
jeopardy and the nation could face a hard default.
BlackRock president: Why I'm in blue chips

http://money.cnn.com/2012/03/06/markets/stocks/index.htm

19-Apr-2012

Stocks: A brutal day in an otherwise solid year - Mar. 6, 2012

Page 2 of 2

Analysts say markets are still poised to move higher, given the recent improvement in U.S. economic data, although trading
could remain choppy.
"There's a lot of uncertainty in the market," said Martiak.
World markets: European stocks closed in the red. Britain's FTSE 100 ( UKX) dropped 1.9%, the DAX ( DAX) in
Germany shed 3.4% and France's CAC 40 ( CAC40) lost 3.6%.
Economic growth in the European Union contracted 0.3% in the fourth quarter, according to the second estimate from
Eurostat, the EU statistics agency. That's compared with third-quarter growth of 0.1% in the eurozone and 0.3% in the EU.
Asian markets ended lower. The Shanghai Composite ( SHCOMP) closed down 1.4%, while the Hang Seng ( HSI) in
Hong Kong lost 2.2% and Japan's Nikkei ( N225) fell 0.6%.
It was the second day of declines on Chinese Premier Wen Jiabao's lower target for China's economic growth -underscoring the need to make the country's breakneck development more sustainable.
Economy: Investors will be on edge leading up to a big news day on Friday, when the February jobs report will be
released. Also coming later this week are reports on consumer credit, productivity and the U.S. trade balance.
Companies: After the market closed, Internet radio station Pandora reported quarterly earnings and profits that missed
analysts expectations. Shares fell 14% in extended trading.
Shares of Chesapeake Energy ( CHK, Fortune 500) fell after the company announced a partnership with KKR ( KKR,
Fortune 500) to invest in mineral interests and royalties in key domestic oil and gas basins.
Online jobs search firm Monster Worldwide ( MWW)'s shares spiked after the company announced it had retained Stone
Key Partners and BofA Merrill Lynch to review "strategic alternatives."
While the company did not reveal its specific plans, hiring bankers to pursue alternatives often means a potential sale or
spin-off.
Dick's Sporting Goods ( DKS, Fortune 500) reported quarterly earnings of 88 cents a share on $1.6 billion in revenue,
matching analysts' estimates.
Shares of weight-loss company Nutrisystem ( NTRI) plunged 10% after the company said late Monday it expects earnings
and sales growth to be below analysts' forecasts this year.
Shuffle Master ( SHFL), a gaming supplier, announced plans Monday to acquire online poker company Ongame Network.
The Las Vegas-based company also reported strong earnings and sales growth for the first quarter.
Currencies and commodities: The dollar strengthened against the euro and the British pound, but dropped versus the
Japanese yen.
Oil for April delivery slipped $2.02 to end at $104.70 a barrel.
The national average price for a gallon of gasoline eased Tuesday, dropping three-tenths of a cent to just above $3.76 a
gallon, after pushing higher for 27 straight days.
Gold futures for April delivery fell $31.80 to $1,672.10 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 1.94% from 2% late
Wednesday.
First Published: March 6, 2012: 9:43 AM ET

2012 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Ad choices

http://money.cnn.com/2012/03/06/markets/stocks/index.htm

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U.S. stocks fell to session lows Tuesday as a selloff -spurred by worries over Greece's pending debt exchange and global
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industrials led declines which spread across all 10 S&P 500 subsectors.
The Nasdaq Composite fell 47 points, or 1.6%, to 2,904.
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The key domestic benchmarks ended on a


downbeat note as weak global cues and
election losses of the ruling UPA government
weighed on sentiment. The Metal and Oil &
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BSE SENSEX closed at 17145.52 down by 27.77 points or by 0.16 % and then NSE Nifty
ended at 5220.45 down by 1.95 points or by 0.04 %. The BSE MIDCAP closed at 6196.55
down by 4.92 points or by 0.08 %, while the BSE SMLCAP ended at 6659.37 down by
40.82 points or by 0.61 %. The BSE Sensex touched intraday high of 17239.35 and
intraday low of 17008.77 The NSE Nifty touched intraday high of 5243.85 and intraday low
of 5171.45.

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The weak closing of the US markets on Tuesday weighed heavily on domestic sentiment
during morning trade. On Tuesday, the Dow Jones Industrial lost 203.66 points and closed
at 12759.15. The S&P 500 lost 20.97 points and closed at 1343.36 and the Nasdaq closed
at 2910.32, losing 40.16 points over the previous day's closing. Soon after witnessing a gap
down opening, the domestic benchmarks slipped further amid weak Asian market cues.
Asian markets fell on for a third straight day on Wednesday amid rising worries that the
Greek debt swap may fail, dampening the demand for risky assets. The deadline to accept
the Greek debt swap offer expires on Thursday. If the nation's private lenders choose not to
accept the offer, the country will head towards a catastrophic default. Moreover, the less
than expected growth of the Australian economy last quarter also weighed on sentiment.
On the domestic front, the loss of the UPA in the UP state elections also weakened
sentiment as investors bet that a change of regime may put key reforms such as allowing
FDI in retail on the backburner. The domestic benchmarks rebounded into the positive
terrain but the recovery only lasted for a brief period with underlying sentiment remaining
sluggish. The benchmarks slipped back into the negative terrain and traded below the
baseline during afternoon trade. The domestic benchmarks slumped to the day's low but
pared some losses as strong trade in European stocks improved sentiment. Finally, the
benchmarks ended on a marginally negative note, with the Sensex shedding 0.16%.

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Post Session:
Another day in red
for Indian markets
/LNH

Election blues
over; markets end
flat
/LNH

Mid Market-Sensex
slips into negative
terrain amid weak
/LNH

Out of the 30 Sensex stocks, there were 13 advances and 17 declines. The Market breadth,
indicating the overall health of the market, was weak. On BSE out of total shares traded
3539, shares advanced were 1154 while 1743 shares declined and 642 were unchanged.
On the sectoral front, Metal and Oil & Gas were the major laggards, shedding 1.51% each.
The top losers of the BSE Sensex pack were Sterlite Industries (India) Ltd. (Rs.
109.35,-3.95%), NTPC Ltd. (Rs. 170.15,-2.41%), Reliance Industries Ltd. (Rs.
761.45,-1.94%), Bharti Airtel Ltd. (Rs. 329.55,-1.91%), Bharat Heavy Electricals Ltd. (Rs.
270.90,-1.85%), among others.
In BSE, BSE Metal index was at 10984.66 down by -168.9 points or by -1.51%. Sterlite
Industries (India) Ltd. (Rs. 109.35,-3.95%), Hindustan Zinc Ltd. (Rs. 127.40,-3.45%), Sesa
Goa Ltd. (Rs. 192.65,-2.82%), JSW Steel Ltd. (Rs. 695.15,-2.13%), Jindal Steel & Power
Ltd. (Rs. 536.25,-1.78%).
On the Asian front, Shanghai Composite ended down 0.65%, Hang Seng shed 0.86% and
Nikkei 225 ended down 0.64%.
On the European front, CAC 40 was up 0.76%, DAX was up 0.41% and FTSE 100 was
trading higher by 0.26%.
Dion Global Solutions Ltd
Other articles published on March 7, 2012
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24-Apr-2012 12:11 AM

Stocks close down on global growth jitters - Mar. 22, 2012

Page 1 of 2

Stocks fall on global growth jitters


By Maureen Farrell @CNNMoneyMarkets March 22, 2012: 4:28 PM ET

Click chart for more markets data.

NEW YORK (CNNMoney) -- U.S. stocks fell Thursday, as investors were rattled by worries of a global growth slowdown.
Both China and Germany reported soft manufacturing data, which caused jitters to pulse through the markets throughout
the trading day.
Signs of a continued resurgence of employment in the United States couldn't help investors shake the funk. The number of
Americans filing for unemployment claims hit a 4-year low.
The Dow Jones industrial average ( INDU) shed 78 points, or 0.6%. The S&P 500 ( SPX) lost 10 points, or 0.7%. The
Nasdaq ( COMP) dropped 12 points, or 0.4%.
Commodities also dropped sharply, as investors feared how a global slowdown might affect consumer and industrial
demand.
Copper and oil fell about 2%. All 10 Dow sectors were down, with oil and gas producers, including Chevron ( CVX,
Fortune 500) and Exxon ( XOM, Fortune 500), among the biggest decliners. Caterpillar ( CAT, Fortune 500) and Alcoa
( AA, Fortune 500) were also big drags on the blue chip index.
Still, traders say volumes have been abnormally low this week, indicating that investors don't have strong convictions about
the direction of the market.
"We're in that deadzone between earnings right now," said Douglas DePietro, head of equity trading at Evercore, referring
to the fact that quarterly corporate results are several weeks away. "The market is pretty listless this week."
Stock market's next hurdle: Peak Earnings
Early Thursday, a reading on Chinese manufacturing compiled by HSBC showed the index hit a four-month low in March.
The new reading came in at 48.1, down from 49.6 in February.
A reading below 50 indicates the sector is contracting, and HSBC said that a significant drop in new orders acted as the
primary drag on manufacturing. Reflecting a broader slowdown, China lowered its growth target and hiked gasoline prices
in recent weeks.
A reading on manufacturing activity in Germany showed the eurozone stalwart also hit a soft patch in March, as the sector
registered only a marginal expansion.
U.S. stocks faltered Wednesday, after the latest report on existing home sales damped enthusiasm about the economy.

http://money.cnn.com/2012/03/22/markets/stocks/index.htm

19-Apr-2012

Stocks close down on global growth jitters - Mar. 22, 2012

Page 2 of 2

Overall, stocks have been supported this year by rising hopes for the U.S. economy and easing concerns about the debt
crisis in Europe. But given the strength of the recent rally, analysts say a period of uneven trading is to be expected.
So far this year, the Dow is up 7%, the S&P 500 has gained 11% and the Nasdaq has surged 18%.
World markets: European stocks closed lower. Britain's FTSE 100 ( UKX) shed 0.8%, the DAX ( DAX) in Germany
lost 1.3% and France's CAC 40 ( CAC40) fell 1.6%.
Asian markets ended mixed. The Shanghai Composite ( SHCOMP) slid 0.1%, while the Hang Seng ( HSI) in Hong Kong
ticked up 0.2% and Japan's Nikkei ( N225) added 0.4%.
Buyout season is back for private equity
Japan's Ministry of Finance reported the island nation enjoyed a trade surplus in February. A deficit had been expected,
and the announcement buoyed stocks.
Economy: The government reported that first-time claims for unemployment benefits in the week ended March 17
dropped to 348,000, a four-year low and a better number than analysts had expected.
The Conference Board's Leading Economic Indicators index for February increased by 0.7%, more than the expected 0.6%
uptick.
Companies: Dollar General ( DG, Fortune 500) shares popped after the retailer reported earnings of 85 cents per share
on $4.2 billion in revenue, topping projections. The company said same-store sales increased 6.5% over the quarter.
FedEx ( FDX, Fortune 500) shares dropped, despite reporting better-than-expected earnings and sales, citing record
holiday shipping. The company, seen as a proxy for the health of the broader economy, said it expects its 'solid
performance' to continue.
How to avoid the looming budget train wreck
ConAgra ( CAG, Fortune 500) reported earnings of 51 cents per share on $3.4 billion in revenue, slightly better than
analysts had expected. Shares fell.
Athletic apparel maker lululemon athletica ( LULU) reported that revenue surged 51.4% to $371.5 million in the fourth
quarter, topping analyst estimates.
McDonald's ( MCD, Fortune 500) said Wednesday that CEO Jim Skinner plans to retire at the end of June, ending a
seven-year turn at the helm of the fast-food restaurateur. The company's current president and COO, Don Thompson, will
succeed Skinner.
After the bell, Nike ( NKE, Fortune 500) reported earnings that beat analysts' estimates. Despite that, shares of the
sneaker company dropped in after hours trading.
Currencies and commodities: The dollar strengthened against the euro and the British pound, but fell versus the
Japanese yen.
Oil for May delivery slipped $1.92 to $105.35 a barrel.
Gold futures for April delivery fell $7.80 to $1,642.50 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 2.275% from 2.29% late
Wednesday.
First Published: March 22, 2012: 9:43 AM ET

2012 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Ad choices

http://money.cnn.com/2012/03/22/markets/stocks/index.htm

19-Apr-2012

The Hindu : Business / Markets : Sensex tumbles 405 points on weakening...

1 of 1

http://www.thehindu.com/business/markets/article3154817.ece?css=print

Business Markets
Published: March 22, 2012 17:07 IST | Updated: March 22, 2012 17:07 IST

Sensex tumbles 405 points on weakening rupee


PTI

The Sensex, which had gained 328 points in the last two trading sessions, dropped by 405.24 points, or 2.30 per cent to 17,196.47, a
hitting the days low of 17,136.50. Here, a worried broker looks at the stock movements in Mumbai. File photo.

The BSE benchmark Sensex on Thursday tumbled over 405 points on FII outflows as investors feared that
weakening rupee will hit importers and government finances, amid falling European markets.
Of the 30 Sensex scrips, 28 tumbled, while two ended in the green. All the 13 sectoral indices closed in losses.
Market heavyweight Reliance Industries dropped 4.15 per cent, and Infosys by 1.39 per cent. The two carry 20 p
cent weight on the Sensex.
The index, which had gained 328 points in the last two trading sessions, dropped by 405.24 points, or 2.30 per
to 17,196.47, after hitting the days low of 17,136.50.
The NSE 50-issue index Nifty plunged 136.50 points, or 2.54 per cent to 5,228.45 with stocks of realty, power a
banking sectors suffering the most.
Brokers said the rupees falling to more than two months low, breaching Rs 51 per US dollar level, triggered sel
They said a weakening trend in the European stock markets on fears that Chinas manufacturing may contract
further, also hit the market sentiment.
Keywords: Sensex close
Printable version | Apr 24, 2012 9:54:12 AM | http://www.thehindu.com/business/markets/article3154
The

24-Apr-2012 12:24 AM

Gloomy Asian, European Data Pressure Wall Street | Fox Business

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Gloomy Asian, European Data Pressure


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Heightened anxiety that slowdowns in several key global marketplaces
may begin to take a toll on America's economic recovery shook traders'
confidence, sending stocks sinking into the red.
Today's Markets
The Dow Jones Industrial Average fell 78.5 points, or 0.6%, to 13046,
the S&P 500 slumped 10.1 points, or 0.72%, to 1393 and the Nasdaq
Composite fell 12 points, or 0.39%, to 3063.
Companies involved in heavy industries were slumping the most on
fears that a slowdown in global markets could weigh on demand.
Caterpillar (CAT: 107.36, -1.39, -1.28%), Alcoa (AA: 9.76, -0.19, 1.91%), Boeing (BA: 73.10, -0.61, -0.83%) and Chevron (CVX: 102.51,
-0.88, -0.85%) performed the worst out of the Dow components, all
sliding more than 1.8%. The four companies combined cost the Dow
some 50 points.
Consumer staples were holding up the best. Indeed, Procter & Gamble
(PG: 66.57, -0.18, -0.27%) and Coca-Cola (KO: 73.82, -0.35, -0.47%)
were among the best performing blue chips on the day.

Show More

GAS PRICES

More Stories

Oil Inches Lower; Natural Gas At 10-year Low


Peabody Energy 1Q Net Beats Views; Shares
Soar
US GAS: Prices Down, Near Fresh 10-Year
Lows, Ahead Of Data

Volatility jumped 4.2% as tracked by the CBOE's VIX, while Treasury


prices advanced as traders sought refuge from riskier equities. . The
yield on the 10-year note fell 0.045-percentage point to 2.253%.

http://www.foxbusiness.com/markets/2012/03/22/gloomy-asian-european-data-... 19-Apr-2012

Gloomy Asian, European Data Pressure Wall Street | Fox Business

Commodities were under pressure from demand concerns and a


stronger U.S. dollar as well. The benchmark crude oil contract traded in
New York slumped $1.92, or 1.8%, to $105.35 a barrel. Wholesale New
York Harbor gasoline dipped 0.52% to $3.34 a gallon.

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Chinese factory activity contracted for the fifth-straight month in March,


according to a survey by HSBC and Markit that comes out ahead of the
official government data. The news comes on the heels of other signs
that the once powerful growth engine in the world's No. 2 economy may
be slowing down.

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102.51

"With new export orders sluggish and domestic demand still softening,
China's slow down has yet to finish," Qu Hongbin, chief China
economist at HSBC said in a statement. "This calls for further easing to
come from Beijing."
Manufacturing data from Europe were also of concern, market
participants said. Output in the eurozone contracted in March, hitting a
three-month low, according to a report by Markit. Germany, which is
seen as the 17-member bloc's economic powerhouse, saw continued
growth, but at the slowest pace in three months. Meanwhile, France, the
bloc's second-biggest economy, saw production shrink for the first time
in four months.
"The Eurozone economy contracted at a faster rate in March,
suggesting that the region has fallen back into recession," Chris
Williamson, Chief Economist at Markit said in a statement. "Germany
and France look to have avoided a return to recession, but only by very
narrow margins."

-0.88

89.39

European stocks slumped nearly 1.5%, while the euro dipped 0.45% to
$1.3157.

-1.00

U.S. Economy Shows More Signs of Improvement


New claims for unemployment benefits fell to 348,000 last week the
lowest level since February 2008 -- from an upwardly revised 353,000,
the Labor Department reported. Economists had expected claims to rise
to 354,000 from an initially reported 351,000. Meanwhile, continuing
claims fell to 3.352 million from 3.361 million, the lowest since August
2008.
While the labor market has been slow to recover, the rate of job growth
has accelerated dramatically recently, and claims have stayed beneath
the closely-watched 400,000 level for weeks.
On the corporate front, FedEx (FDX: 89.39, -1.00, -1.11%) posted a
fiscal third-quarter profit of $1.55 a share, excluding items, on sales of
$10.56 billion. Analysts expected the global shipping company to earn
$1.35 a share on $10.6 billion.
McDonald's (MCD: 95.28, -2.06, -2.12%) said its Chief Executive
Officer, Jim Skinner, will retire in late June and be replaced by the firm's
Chief Operating Officer Don Thompson.
In metals, gold slid $7.80, or 0.47%, to $1,643 a troy ounce.
Foreign Markets

http://www.foxbusiness.com/markets/2012/03/22/gloomy-asian-european-data-... 19-Apr-2012

Gloomy Asian, European Data Pressure Wall Street | Fox Business

Page 3 of 4

European blue chips dropped 1.5%, the English FTSE 100 dipped
0.79% to 5846 and the German DAX sold off by 1.3% to 6981.
In Asia, the Japanese Nikkei 225 advanced by 0.4% to 10127 and the
Chinese Hang Seng edged higher by 0.22% to 22902.
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Goods Data, Falling Oil Prices Send Stocks


Sliding
By Adam Samson

Published March 28, 2012

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GAS PRICES

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Oil Inches Lower; Natural Gas At 10-year Low


Peabody Energy 1Q Net Beats Views; Shares
Soar
US GAS: Prices Down, Near Fresh 10-Year
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Goods Data, Falling Oil Prices Send Stocks Sliding | Fox Business

FOX Business: The Power to Prosper

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The markets dipped on Wednesday after a key manufacturing report


missed Wall Street's expectations and oil prices shed close to 2%.
However, stocks recovered from the lows of the session, helped by
rising financial shares.

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9

Today's Markets
1

The Dow Jones Industrial Average dipped 71.5 points, or 0.54%, to


13126, the S&P 500 fell 7 points, or 0.49%, to 1406 and the Nasdaq
Composite dropped 15.4 points, or 0.49%, to 3105.

RELATED STOCKS

CAT
CATERPILLAR ...

107.36
-1.39

BAC

8.77

BANK OF AMER...

-0.15

GE
GENERAL ELEC...

AXP
AMERICAN EXP...

BHI
BAKER HUGHES...

GS
GOLDMAN SACH...

BA
BOEING CO....

+0.04

57.57
-0.47

41.02
-0.29

-1.73

73.10
-0.61

9.76
-0.19

CVX
CHEVRON CORP...

OXY
OCCIDENTAL P...

JPM
JPMORGAN CHA...

However, the financial sector outperformed, with blue chips Bank of


America (BAC: 8.77, -0.15, -1.68%), American Express (AXP: 57.57, 0.47, -0.81%) and JPMorgan Chase (JPM: 43.22, -0.07, -0.16%) all
ending in the green.
At the lows of the session, the Dow was down 128.5 points, meaning it
came close to halving its losses on the day. The broader S&P 500 was
down close to 1.1% at its weakest point.

113.60

ALCOA INC....

FREEPORT-MCM...

Energy, basic materials and industrial companies, like Chevron (CVX:


102.51, -0.88, -0.85%), Alcoa (AA: 9.76, -0.19, -1.91%) and Caterpillar
(CAT: 107.36, -1.39, -1.28%) came under pressure on the day. Indeed,
the five companies based in those sectors listed on the Dow cost the
blue-chip average some 50 points.

19.14

AA

FCX

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38.03
-0.26

102.51
-0.88

Oil Prices Drop


There have been multiple reports over the past two days the U.S. may
tap into its strategic petroleum reserve in a bid to push the price of
crude lower. On top of those reports, the Energy Department said crude
stocks jumped by 7.1 million barrels last week, considerably bigger than
the 2.2 million barrel build than was expected. Meanwhile, gasoline
stocks slid 3.5 million barrels, a wider draw than the 1.5 million
expected.
The benchmark crude oil contract traded in New York fell $1.92, or
1.8%, to $105.41 a barrel. Wholesale RBOB gasoline slumped 0.3% to
$3.396 a gallon.

88.22
+0.25

43.22

In metals, gold slid $25.20, or 1.5%, to $1,663 a troy ounce. U.S.


Treasury bonds fell, pushing yields higher. The yield on the 10-year
note rose 0.026-percentage point to 2.212%.

-0.07

Durable Goods Data Miss Expectations


This week, market participants have been paying close attention to the
U.S. economy. Wall Street posted a strong performance Monday after
Federal Reserve Chairman Ben Bernanke hinted at more monetary
easing, but then struggled the following day amid mixed reports.
The durable goods report is one that is particularly closely watched
since it is so wide-ranging and directly impacts broad measures of
economic output. Indeed, it encompasses everything from refrigerators
made by General Electric (GE: 19.14, +0.04, +0.21%) to airplanes
crafted by Boeing (BA: 73.10, -0.61, -0.83%).
Orders for long-lasting goods jumped 2.2% in February from the month
prior, a shallower increase than the 3% economists expected. Excluding

http://www.foxbusiness.com/markets/2012/03/28/goods-data-falling-oil-prices-s... 19-Apr-2012

Goods Data, Falling Oil Prices Send Stocks Sliding | Fox Business

Page 3 of 5

the transportation component, orders were up 1.6%, a tick below the


1.7% forecast.

RELATED VIDEO

UK GDP Pushes Global


Markets Down

One variable may be how soaring gasoline and oil prices have affected
demand for these products. Consumer sentiment and manufacturing
reports have shown that orders have remained robust, but some
economists say there is a risk that people's and business' disposable
income may take a hit.
In corporate news, Goldman Sachs (GS: 113.60, -1.73, -1.50%)
considered splitting up its chairman and chief executive roles amid
pressure from shareholder groups, according to multiple reports. A
separate report by Reuters said the securities behemoth's European
investment banking revenue jumped 8% during the first quarter as
derivatives activity surged across the continent.

Morning Business
Outlook: 3/28

Foreign Markets

Nike Sues Reebok Over


Tebow Usage

European blue chips dipped 1.1%, the English FTSE 100 dropped 1%
to 5809 and the German DAX slumped 1.1% to 6999.
In Asia, the Japanese Nikkei 225 slid 0.71% to 10183 and the Chinese
Hang Seng slumped 0.77% to 20885.

Magic Johnson Among


Investors Buying Dodgers
for $2 Billion

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(Street Authority)
[What's This?]

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From Hiring Managers
How Every Manager Can
Create a Culture That
Works

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Save by Shopping for
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Market?
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Monsanto Bt Crops:
Genetically Modified Corn EU Officials Doth Protest
Linked To Soil Ecosystem Too Much
Threat

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fund data provided by Lipper. Economic data provided by Econoday. Dow Jones & Company Terms & Conditions.

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Goods Data, Falling Oil Prices Send Stocks Sliding | Fox Business

Page 5 of 5

This material may not be published, broadcast, rewritten, or redistributed. 2012 FOX News Network, LLC. All rights reserved.

http://www.foxbusiness.com/markets/2012/03/28/goods-data-falling-oil-prices-s... 19-Apr-2012

S&P slides on economic jitters - Mar. 28, 2012

Page 1 of 2

Stocks slide on economic jitters


By Maureen Farrell@CNNMoneyMarkets March 28, 2012: 4:32 PM ET

Click chart for more markets data.

NEW YORK (CNNMoney) -- Stocks closed in the red Wednesday as investors grew concerned about the health of the
global economy.
Investors already jittery about slowing growth overseas became more wary after a report on U.S. durable goods orders
came in below expectations before the market opened.
"It doesn't take economic numbers meeting expectations to give the markets support. They need to beat expectations," said
Guy LeBas, chief fixed income strategist at Janney Capital Markets.
The Dow Jones industrial average ( INDU) closed down 72 points, or 0.6%. The S&P 500 ( SPX) dipped 7 points, or
0.5%. The Nasdaq ( COMP) fell 15 points, or 0.5%.
The commodities market dropped even further. Oil and copper fell roughly 2%, and gold lost more than 1%.
Analysts said that it was a light trading day overall with a smaller number of shares changing hands.
With Europe's debt drama on the back burner for now, investors are waiting for first-quarter results to decide whether to
continue betting on a run up in the stock market. But the first of the quarterly reports is still about two weeks away.
Gas tops $3.90 a gallon
"The market seems to be catching its breath today," said Ryan Detrick, senior technical strategist at Schaeffer's Investment
Research. "Investors are really waiting for the next major potential driver."
U.S. stocks ended slightly lower Tuesday after news that home prices in 20 major cities fell to the lowest levels since
2002. A disappointing report on consumer confidence further rattled investors.
Tuesday's declines followed a big run-up in the previous day's session, as Federal Reserve chairman Ben Bernanke's
comments on the job market gave investors reason to believe the central bank will keep interest rates low.
Stocks have rallied in 2012 on improving economic data and easing concerns about the debt crisis in Europe. With the
year's first quarter of trading ending Friday, the Dow has climbed 8%, the S&P 500 has gained nearly 13% and the Nasdaq
is up more than 20%.
Economy: A government report on durable goods orders showed that orders increased 2.2% in February, less than the
2.8% expected by economists.

http://money.cnn.com/2012/03/28/markets/stocks/index.htm

19-Apr-2012

S&P slides on economic jitters - Mar. 28, 2012

Page 2 of 2

The price of an average gallon of regular gas surpassed the $3.90 mark Wednesday, according to the latest daily survey
conducted for the motorist group AAA. Prices are now within a dime of the $4 threshold after 19 consecutive daily
increases.
Nothing cheesy here: Annie's IPO soars 60%
Companies: Annie's ( BNNY), the organic food maker known for its macaroni & cheese, closed 90% above its opening
price at $36 on its debut day on the New York Stock Exchange. The company priced shares at $19, above the established
$16 to $18 range. Annie's has sold 5 million shares for its initial public offering.
Vocera Communications ( VCRA) also debuted on the NYSE Wednesday, and its shares closed up 34%.
Regional Management ( RM), the third company to go public Wednesday, closed 9% higher.
Family Dollar Stores ( FDO, Fortune 500) reported quarterly earnings of $1.15 a share on $2.5 billion in revenue. The
results were slightly better than analyst estimates.
Check gas prices in your state
Currencies and commodities: The dollar lost ground against the Japanese yen, but strengthened against the euro and
British pound.
Oil for May delivery slipped $1.92 to $105.41 a barrel.
Gold futures for April delivery fell $27.00 to $1,657.90 an ounce.
World markets: European markets closed in the red Wednesday. Britain's FTSE 100 ( UKX) ended 1% lower, while the
DAX ( DAX) in Germany and France's CAC 40 ( CAC40) both lost 1.1%.
Asian markets ended lower. The Shanghai Composite ( SHCOMP) tumbled 2.7%, the Hang Seng ( HSI) in Hong Kong
shed 0.8% and Japan's Nikkei ( N225) declined 0.7%.
Bonds: The price on the benchmark 10-year U.S. Treasury moved up slightly, pushing the yield down to 2.18% from
2.19% late Tuesday.
First Published: March 28, 2012: 9:44 AM ET

2012 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Ad choices

http://money.cnn.com/2012/03/28/markets/stocks/index.htm

19-Apr-2012

Sensex falls; IT outsourcing hit by U.S. visas - Yahoo! Finance

1 of 1

http://finance.yahoo.com/news/sensex-falls-outsourcing-hit-u-100901602.html

Reuters Thu, Mar 29, 2012 6:09 AM EDT

MUMBAI (Reuters) - The BSE Sensex provisionally fell 0.2 percent on Thursday, with technology stocks leading the
losses after local media reported the United States had raised the cost of processing H-1B employment visas, which was
seen as hitting the industry.
Technology outsourcing stocks such as Infosys (NSE:INFY.NS - NewsINFY.NS) and Tata Consultancy Services
(NSE:TCS.NS - NewsTCS.NS) led decliners.
The main 30-share BSE index provisionally closed down 31 points at 17,090.55. The 50-share NSE index provisionally
closed 0.1 percent lower at 5,189.
(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)

Copyright 2012 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited
without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions take
in reliance thereon.
Copyright 2012 Yahoo! Inc. All rights reserved. /

24-Apr-2012 12:26 AM

The Hindu : Business / Markets : Sensex down by 63 points

1 of 1

http://www.thehindu.com/business/markets/article3258280.ece?css=print

Business Markets
Published: March 29, 2012 16:49 IST | Updated: March 29, 2012 16:49 IST

Sensex down by 63 points


PTI

Fag-end value buying contained intra-day losses today and the BSE benchmark Sensex closed lower by just 63
points amid this months settlement in the derivatives segment and a weak trend in global markets.
Sensex, which had dipped below the 17k mark intra-day, recovered somewhat and closed at 17,058.61, down 63
points or 0.37 per cent as the last 30-minute buying curtailed losses.
The NSE 50-issue index Nifty fell 15.90 points, or 0.31 per cent to 5,178.85, after a low of 5,135.95.
The market remained in bear-grip for major part of the day as investors off-loaded their pending positions on
current months expiry in the derivative contracts settlement, brokers said.
Besides, falling rupee ignited fears of inflation on account of costly imports and raised concerns the RBI may no
interest rates at next months monetary policy meet.
A weak trend in the global markets further influenced the sentiment.
The IT sector led the fall as software exporters worried a weakening trend in overseas markets might hurt their
business. Over 80 per cent of the software business comes from the U.S. and European markets.
The second most heaviest on the Sensex Infosys fell by 1.78 per cent to Rs. 2,791 and segment major TCS by 1
per cent to Rs. 1,143.25.
The capital goods sector index suffered the most by losing 1.61 per cent to 9,834.68 followed by IT index by 1.17
cent to 5,951.18.
The major Sensex losers were Reliance Industries, State Bank of India, Larsen and Toubro, Bharti Airtel, BHEL
M&M, Tata Steel, Cipla, HDFC Bank and ICICI.
Keywords: share markets, sensex, stock markets
Printable version | Apr 24, 2012 9:55:57 AM | http://www.thehindu.com/business/markets/article32582
The

24-Apr-2012 12:27 AM

Markets on Track for Worst Week of 2012 | Fox Business

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The markets posted a tepid performance on Thursday, teetering on


closing out the holiday-shortened trading week with the biggest loss of
2012.

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Peter Schiff: The


Economy is Not
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Today's Markets

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Weak Housing,
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As of 3:19 p.m. ET, the Dow Jones Industrial Average fell 27.8 points, or
0.21%, to 13047, the S&P 500 dipped 2 points, or 0.14%, to 1397 and
the Nasdaq Composite gained 7.9 points, or 0.26%, to 3076.
39.65
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56.79
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The Nasdaq took its worst fall since December on Wednesday, while
the S&P dropped by the most in almost a month as sentiment across
global equity markets turned more bearish. Traders have grown
concerned once again about the debt crisis in Spain after the country
struggled to meet a target in a recent auction and has seen yields begin
climbing once again. Higher yields, analysts say, will make it more
difficult for the country to reach its deficit-cutting target.
The labor market is coming into focus with the monthly jobs report on
tap for Friday.
New claims for unemployment benefits fell to 357,000 last week -- the
lowest level since April 2008 -- from an upwardly-revised 363,000, the
Labor Department reported. Claims were expected to fall to 355,000
from an initially reported 359,000.
Planned job cuts among U.S. employers fell 27% in March from
February to 37,880, according to a report Thursday by outplacement
firm Challenger, Gray & Christmas. Layoffs are now at the lowest level
in 10 months.
The number of jobless claims has consistently sat under the 400,000
level, which many economists say points to continued improvement in
the labor market.

Show More

GAS PRICES

More Stories

Oil Inches Lower; Natural Gas At 10-year Low

Thursday is the last day of equity trading for the week, with stock
markets closed for the Good Friday holiday. However, stock-index
futures along with precious metal and commodity futures trading will be
open for a short time on Friday morning.

Peabody Energy 1Q Net Beats Views; Shares


Soar
US GAS: Prices Down, Near Fresh 10-Year
Lows, Ahead Of Data

Oil rebounded in New York trading after a steep selloff on Wednesday.


The benchmark contract climbed $1.84, or 1.8%, to $103.31 a barrel.
Wholesale New York Harbor gasoline gained 0.21% to $3.334 a gallon.
In metals, gold jumped $16.00, or 0.99%, to $1,630 a troy ounce. The
yield on the 10-year Treasury fell 0.045-percentage point to 2.184%.

http://www.foxbusiness.com/markets/2012/04/05/wall-street-slips-as-caution-pr... 19-Apr-2012

Markets on Track for Worst Week of 2012 | Fox Business

Page 2 of 3

On the corporate front, many big-name retailers report monthly sales


results on the day. Target (TGT: 56.79, -0.59, -1.03%) boosted its firstquarter earnings outlook after its same-store sales jumped 7.3% in
March, bigger than the 5.4% analysts expected. Macy's (M: 39.65, 0.48, -1.20%) also beat expectations, reporting a 7.3% same-store
increase, compared with forecasts of 4.8%.

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Foreign Markets
European blue chips fell 0.25%, the English FTSE 100 rose 0.35% to
5724 and the German DAX dropped 0.13% to 6775.
In Asia, the Japanese Nikkei 225 slipped 0.53% to 9768 and the
Chinese Hang Seng sold off by 0.95% to 20593.
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Wall Street Hammered by European, Economic Woes; Dow Slides for Fifth Day ... Page 1 of 4

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Wall Street Hammered by European,


Economic Woes; Dow Slides for Fifth Day
By Adam Samson

Published April 10, 2012

On Air

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FOX Business: The Power to Prosper


The markets tumbled on Tuesday after renewed worries about Europes
debt crisis and ongoing economic concerns sent traders dashing out of
equities and commodities in search of shelter.
Today's Markets
The Dow Jones Industrial Average dipped 214 points, or 1.7%, to
12716, the S&P 500 fell 23.6 points, or 1.7%, to 1359 and the Nasdaq
Composite skidded 55.9 points, or 1.8%, to 2991.
The blue chips have fallen for five days in a row, the longest losing
streak since August. Meanwhile, the broader S&P 500 is having its
longest rout since November.

Show More

GAS PRICES

The biggest drags on the Dow on a point basis were Caterpillar (CAT:
107.36, -1.39, -1.28%) and IBM(IBM: 199.51, -0.62, -0.31%) Chevron
(CVX: 102.51, -0.88, -0.85%) and Boeing (BA: 73.10, -0.61, -0.83%).
Hewlett-Packard was the only component to end in the green.
In a sign of the uneasiness, the VIX, sometimes referred to as Wall
Street's fear gauge, surged 8.3%. The number of trades in declining
shares on the New York Stock Exchange outpaced those in advancing
shares by a ratio of nine-to-one, according to data compiled by FOX
Business.The S&P 500 broke its 50-day-moving average for the first
time since December. Market participants generally pay close attention
to technical levels on the S&P.

More Stories

Oil Inches Lower; Natural Gas At 10-year Low


Peabody Energy 1Q Net Beats Views; Shares
Soar
US GAS: Prices Down, Near Fresh 10-Year
Lows, Ahead Of Data

http://www.foxbusiness.com/markets/2012/04/10/wall-street-hammered-by-eur... 19-Apr-2012

Wall Street Hammered by European, Economic Woes; Dow Slides for Fifth Day ... Page 2 of 4

Exchanges across Europe were under intense selling pressure as well.


Germany's DAX shed 2.5%, England's FTSE 100 dropped 2.2% and
Italy's MIB plunged 5%. Traders have once again started to focus on
debt yields in eurozone countries that have have public debt levels,
paying particularly close attention to Spain and Italy.

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At the same time, traders continued moving into the safety of Treasury
bonds. The yield on the 10-year plummeted 0.047-percentage point to
1.988% and is now at its lowest level since early March. As traders bid
up the asset, the yield falls.

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The yield on Italy's 10-year note jumped 0.12-percentage point on the


day, while the yield on similar notes in Spain climbed 0.18-percentage
point. The fear is that as the yields rise, borrowing costs inherently go
up, meaning it becomes more challenging for the countries to cut down
their debt loads. Unlike smaller countries like Greece, bailing out bigger
players would be considerably more costly, and a debt default could be
painful to the euro currency bloc and financial markets across the globe.

22.00
-0.06

Earnings season kicks off after the closing bell on Tuesday. Aluminum
giant Alcoa (AA: 9.76, -0.19, -1.91%) is expected to post a four cent per
share quarterly loss on revenue of $5.8 billion.
In energy markets, U.S. crude has retreated nearly 8% from its 2012
high of $109.77 a barrel as tension has calmed somewhat between
Western states and Iran and supplies have swelled. The benchmark
contract traded in New York stumbled $1.44, or 1.4%, to $101.02 a
barrel. New York Harbor wholesale gasoline dipped 5 cents, or 1.4%, to
$3.25 a gallon.

102.51
-0.88

587.44

In metals, gold jumped $16.80, or 1%, to $1,661 a troy ounce.


Corporate News

-20.90

107.36
-1.39

85.28

Best Buy (BBY: 22.00, -0.06, -0.27%) said its Chief Executive Officer
Brian Dunn has resigned.
Foreign Markets

-0.47

27.69

European blue chips sold off by 3%, the English FTSE 100 slumped
2.2% to 5596 and the German DAX dropped 2.5% to 6606.

-0.26

199.51

In Asia, the Japanese Nikkei 225 slipped 0.09% to 9538 and the
Chinese Hang Seng shed 1.2% to 20356.

-0.62

43.42
0.00

http://www.foxbusiness.com/markets/2012/04/10/wall-street-hammered-by-eur... 19-Apr-2012

Wall Street Hammered by European, Economic Woes; Dow Slides for Fifth Day ... Page 3 of 4

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http://www.foxbusiness.com/markets/2012/04/10/wall-street-hammered-by-eur... 19-Apr-2012

Sensex stays in negative terrain amid weak Asian cues Analysis for Apr 11... http://www.goodreturns.in/news/2012/04/11/sensex-stays-in-negative-ter...

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The key domestic benchmarks continued to


trade well below the baseline as weak cues
0
0
0
0
from the Asian markets dampened sentiment.
Asian markets fell on Wednesday amid
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concerns that the lingering debt crises in
Europe was escalating. Yields on Spanish 10
-year bonds rose by 30 basis points to 5.99 per cent on Tuesday amid concerns that the
nation may have to seek international rescue funding like Greece, Portugal and Ireland.
Moreover, a record loss posted by Japanese electronics giant Sony, also dampened
sentiment. On the domestic front, investors turned cautious ahead of the release of IIP data
that may dictate RBI's next move.
At 12:28PM, BSE SENSEX was at 17144.87, down by 98.97 points or by 0.57 per cent and
NSE Nifty was at 5202.65, down by 40.95 points or by 0.78 per cent.
The BSE Sensex touched intraday high of 17152.42 and intraday low of 17075.89 The NSE
Nifty touched intraday high of 5213.9 and intraday low of 5190.8.
Meanwhile, the BSE MIDCAP was at 6344.64, down by 25.81 points or by 0.41 per cent;
however the BSE SMLCAP was at 6799.25, up by 6.94 points or by 0.1 per cent.
On the Sectoral front, Metal and Capital Goods were the major laggards, down by 1.38 per
cent and 1.01 per cent respectively.
The Market breadth, indicating the overall health of the market, was weak. On BSE out of
total shares traded 3465, shares advanced were 1155 while 1363 shares declined and 947
were unchanged.
The top losers of the BSE Sensex pack were Sterlite Industries (India) Ltd. (Rs.
101.45,-2.73%), Jindal Steel & Power Ltd. (Rs. 488.60,-2.51%), Tata Steel Ltd. (Rs.
445.85,-1.61%), Bharat Heavy Electricals Ltd. (Rs. 251.95,-1.51%), Bharti Airtel Ltd. (Rs.
325.90,-1.35%), among others.

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Fixed Maturity Plan
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24-Apr-2012 12:29 AM

Sensex stays in negative terrain amid weak Asian cues Analysis for Apr 11... http://www.goodreturns.in/news/2012/04/11/sensex-stays-in-negative-ter...

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In sync with other
Asian markets,
Indian markets
/LNH

Pre SessionMarkets likely to


witness negative
/LNH

Markets open lower


as rising bond
yields spook
/LNH
In BSE, BSE Metal index was at 10717.15, down by 149.62 points or by 1.38 per cent. The
major losers were Sesa Goa Ltd. (Rs. 178.20,-2.91%), Sterlite Industries (India) Ltd. (Rs.
101.45,-2.73%), Jindal Steel & Power Ltd. (Rs. 488.60,-2.51%), Hindustan Zinc Ltd. (Rs.
124.90,-2.31%), Tata Steel Ltd. (Rs. 445.85,-1.61%).
Among the Asian bourses, Shanghai Composite was down by 0.14 per cent, Hang Seng
was trading lower by 1.22 per cent and Nikkei 225 was down by 0.83 per cent.

Dion Global Solutions Ltd


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24-Apr-2012 12:29 AM

The Hindu : Business News : Sensex down 150 points in early trade

1 of 1

http://www.thehindu.com/business/article3302718.ece?css=print

Business
Published: April 11, 2012 10:22 IST | Updated: April 11, 2012 10:22 IST

Sensex down 150 points in early trade


PTI

PTI The 30-share barometer, which had gained 21.70 points on Tuesday, lost 150.63 points to 17,093.21 in Wednesday's early trade.
photo

The BSE benchmark index Sensex on Wednesday fell by over 150 points in early trade, due to fresh selling by fu
amid a weak trend on other Asian bourses.
The 30-share barometer, which had gained 21.70 points on Tuesday, lost 150.63 points, or 0.87 per cent, to
17,093.21 in the early trade.
The wide-based National Stock Exchange index Nifty dipped below 5,200 points to trade lower by 49.20 points
0.93 per cent, at 5,194.40.
All sectoral indices, led by metal and capital goods, were trading in the negative zone, with losses up to 1.62 per
which led to the fall in the Sensex.
Brokers said fresh selling by funds amid a weak trend on other Asian markets, following overnight heavy losses
the European and US markets due to fresh euro-zone debt worries and concerns over the global recovery, main
dampened the trading sentiment here.
In the Asian region, the Hong Kongs Hang Seng index fell by 1.27 per cent, while Japans Nikkei was down by 1
per cent in the early trade today. The US Dow Jones Industrial Average ended 1.65 per cent lower in yesterdays
trade.
Keywords: Sensex opening trade
Printable version | Apr 24, 2012 10:28:12 AM | http://www.thehindu.com/business/article3302
The

24-Apr-2012 12:58 AM

Stocks: Worst day since November 2011 - Apr. 10, 2012

1 of 2

http://money.cnn.com/2012/04/10/markets/stocks/index.htm

By Maureen Farrell @CNNMoneyMarkets April 10, 2012: 5:43 PM ET

Click chart for more markets data.

NEW YORK (CNNMoney) -- The fear trade picked up steam Tuesday, as investors grew increasingly worried about
Europe's fiscal health. All three indexes closed down more than 1.5%, marking the fifth straight losing day for stocks.
Early in the day investors, traded out of stocks after reading headlines about rising borrowing costs for Spain and Italy
the day progressed, investors grew increasingly jittery over the health of the global economy, which caused the sell-off
intensify.
"People are starting to get very concerned about the macro picture of both sovereign debt and China's slowing growth
said Sam Ginzburg, head of trading at First NY. "We're starting to get very worried about going back to a recession."
The Dow Jones Industrial Average ( INDU) closed down 214 points, or 1.7%, capping off the worst day since Novem
2011. The S&P 500 ( SPX) lost 24 points, or 1.7%. The Nasdaq ( COMP) fell 56 points, or 1.8%.
The S&P 500 also had the worst day since November 2011, while Nasdaq posted the worst finish since December 201
European stocks slumped more than 2%.
First-quarter earnings: They won't be pretty

Yields on Spain's 10-year bonds hovered just under 6%, the highest level in more than three months. Borrowing costs
have been trending higher as the government struggles to push through budget cuts. In Italy, the yields rose near 5.7%
Peter Boockvar, chief equity strategist at Miller Tabak, said that while U.S. investors had been largely ignoring sovereig
debt questions in Europe, the continent's problems cannot be ignored now.
As part of a broad retreat from risky assets, investors jumped into U.S. Treasuries, driving the yield on 10-year Treasu
below 2% for the first time in more than a month.
Twenty-nine of the Dow's 30 components ended in the red, with Bank of America ( BAC, Fortune 500) leading the b
retreat. Oil and industrial stocks were also among the biggest decliners. GE ( GE, Fortune 500), Caterpillar ( CAT
Fortune 500) and Exxon ( XOM, Fortune 500) fell more than 1%.
The so-called fear index, the VIX (

VIX), rose nearly 11% Tuesday and is up nearly 33% over the past five days. It's a

19-Apr-2012 6:45 PM

Stocks: Worst day since November 2011 - Apr. 10, 2012

2 of 2

http://money.cnn.com/2012/04/10/markets/stocks/index.htm

20.5, still far from 30 -- a reading that typically signals heightened investor fear.
Investors got one positive surprise after the markets closed. Dow component Alcoa ( AA, Fortune 500) beat earnin
estimates when it reported after the closing bell. Alcoa's earnings unofficially begins the release of first-quarter financ
results.
Analysts are forecasting a 0.1% drop in first-quarter earnings for companies in the S&P 500 compared to a year earlier
according to FactSet. While that's not a major decline, it would mark the end of a nine-quarter winning streak. Stocks w
on a tear in the first three months of this year, with the Dow and S&P 500 enjoying their best first quarter in over a dec
"We're essentially expecting no growth, but we could see earnings come in worse than that," said Boockvar. "I think w
have the potential for some disappointment."
Stocks finished lower Monday, as investors reacted to the disappointing March jobs report released last week.
World markets: European stocks closed down sharply. Britain's FTSE-100 (
Germany dropped 2.5%, and France's CAC 40 ( CAC40) shed 3.8%.

UKX) slipped 2.2%, the DAX (

In Asia, Japan's Nikkei ( N225) slipped 0.1%, while Hong Kong's Hang Seng (
Composite ( SHCOMP) gained 0.9%.

DAX)

HSI) lost 1.2% and the Shanghai

Economy: Wholesale inventories came in higher than expected for February with a 0.9% increase above the 0.5% ris
forecast by economists. Inventories rose 0.4% in January.
On Monday, Federal Reserve chairman Ben Bernanke said in a speech in Georgia that banks need to increase their
capital buffers in order to ensure stability in the financial system.
Companies: Shares of electronics retailer Best Buy ( BBY, Fortune 500) surged then dropped after the company
announced that CEO Brian Dunn had resigned and the company would begin a search for a new CEO.
Sony ( SNE) shares dropped after the electronics maker announced it expects an annual loss of more than double
previous projection. The company said the revision came after recording additional tax expenses, primarily in the Un
States.
Shares of grocery retailer Supervalu ( SVU, Fortune 500) were up 15%, after the company reported earnings that be
expectations and offered strong guidance.
Apple's (

AAPL, Fortune 500) shares hit another all-time high Tuesday.

Introducing Wall Street's new rainmakers

Currencies and commodities: The dollar gained against the euro and the British pound but fell against the Japanese
yen.
Oil for May delivery lost $1.32 to $101.14 a barrel.
Gold futures for April delivery gained $16.60 to $1,660.50 an ounce.
First Published: April 10, 2012: 9:44 AM ET
2012 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privac
Policy. Ad choices .

19-Apr-2012 6:45 PM

Share Market Live | Sensex dips more than 200 points as investors sell IT ...

1 of 5

http://sharemarketlive.org/2012/04/13/sensex-dips-more-than-200-points-...

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Indian Share Market Live News, Updates & Recommendations

Sensex dips more than 200 points as investors sell IT stocks


Posted on 13 April 2012
Tags: dips, investors, more, points, sell, Sensex, Stocks, than
Categorized | Share Market News
MUMBAI: The Bombay Stock Exchanges Sensex closed above psychological support levels as institutional investors resorted to
basket selling in technology stocks following poor FY13 revenue guidance from Infosys Technologies and weak cues from
European markets.
Infosys Technologies reported net profit of Rs 2316 crore for quarter ended March 2012, up 27 per cent against Rs 1818 crore in
the same period a year ago. However, disappointing revenue guidance for FY13 pushed investors to offload longs in the stock.
The company expects growth revenue of 8-10 per cent in FY 2013 which is lower than Nasscoms guidance of 11-14% for the IT
sector in FY13.
The company expects EPS to be in the range Rs 158.76 to Rs 161.41. Analysts are expecting stock to trade in a range of Rs 23002600 in near to medium term.
The results for 4Q were below estimates and so is the guidance for FY13. The guidance reflects the challenging macro scenario
which Infosys is facing. We also understand that, a part of the projected underperformance v/s the industry is due to the strategy
of not chasing low-margin business.
The recent re-structuring within the company is impacting near term growth but should help Infosys return to better growth rates
in the medium to long term, said Dipen Shah, Head of Fundamental Research, Kotak Securities.
The benchmarks, which braved over 10 per cent fall in Infosys Technologies till afternoon, witnessed a sharp fall in the afternoon
led by losses in rate sensitives like realty, banks and capital goods stocks.
After IIP figures and disappointing Infosys guidance, the market will now keenly await the Reserve Bank of Indias policy review
meet next week for direction. The street is expecting the RBI to cut interest rates by 25 basis points to boost economic growth.
If the RBI cuts interest rate next week, the move will help in spurring capital growth and capital investment in the economy that
will help in supporting economic growth, said Nilesh Shah of Axis Bank.
Credit rating agency Crisil is expecting 50-75 basis points in the current fiscal. RBIs ability to cut repo rate will be constrained by
fiscal slippage and inflation persisting above its comfort level. We expect RBI to cut the repo rates by 50-75 bps during 2012-13,
the report said.
The Sensex ended at 17094.51, down 238.11 points or 1.37 per cent. It touched intraday high of 17398.22 and low of 17027.30.
The National Stock Exchanges Nifty ended at 5207.45, down 69.40 points or 1.32 per cent. It touched a high of 5306.75 and low
of 5185.40 in trade today.
After days of consolidations indicators have started to dip with todays failed breakout above the levels of 5300. That is not a good
sign and I would now keep a close watch on levels of 5150-5140 (200-day average). If that is broken then you might actually look
at a sharper correction than what we have had for last few days.
As of now the range stands but the slight change in momentum could be damaging and negative on the charts. Therefore it is
imperative that we hold 5150 for next few days, said Mitesh Thacker, Technical Analyst, miteshthacker.com
Markets-The Economic Times
Wall Street falls at open on Spain, China

24-Apr-2012 12:32 AM

Infosys guidance disappoints, Sensex plunges 250 points - Economic Times

1 of 2

http://articles.economictimes.indiatimes.com/2012-04-13/news/3133743...

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MUMBAI: The National Stock Exchange's Nifty
closed near psychological support levels as poor
FY13 revenue guidance from Infosys
Technologies and weak cues from European
markets hurt sentiments.
The Nifty ended was at 5203.75, down 73.10
points or 1.39 per cent. It touched a high of
5306.75 and low of 5185.40 in trade today.
The Bombay Stock Exchange's Sensex ended at 17078.91, down 253.71 points or 1.46
per cent. It touched intraday high of 17398.22 and low of 17027.30.
BSE Midcap Index was down 0.80 per cent and BSE Smallcap Index was 0.63 per cent
lower.
Amongst the sectoral indices, BSE IT Index plunged 8.82 per cent, BSE Realty Index
fell 1.07 per cent, BSE Bankex Index was down 0.93 per cent and BSE Capital Goods
Index slipped 0.64 per cent lower. BSE Healthcare Index was up 0.94 per cent.
(All figures are provisional)
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Infosys guidance disappoints, Sensex plunges 250 points - Economic Times

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Readers' opinions (2)


Sort by: Newest | Oldest
suresh (kolkata)
15 Apr, 2012 07:59 AM
I wonder wheather this is the reason why narayanamurthy, nilekani, mohandas pai
and other top management left the company. Were they aware of this downslide that
was coming and abandoned their baby. Is this not what insider trading is all about?
KRISHNAN (Kannur)
13 Apr, 2012 05:44 PM
Dear Investers, Can we believe comments of stock brokers, Researchers and other
financial experts, in this volatile stock market. Really, their remarks are quite far away
from the market reality. What is wrong with Indian capital market ? Is it leading to
crash or climb ?

2012 Bennett, Coleman & Co. Ltd. All rights reserved Index by Date | Index by Keywo
www.economictimes.com

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Today's Markets

As of 3:13 p.m. ET, the Dow Jones Industrial Average dipped 63.8
points, or 0.49%, to 12922, the S&P 500 dropped 9.9 points, or 0.72%,
to 1378 and the Nasdaq Composite fell 31.9 points, or 1%, to 3024.

RELATED STOCKS

GOOG
GOOGLE INC....

WFC
WELLS FARGO ...

JPM
JPMORGAN CHA...

599.30
-8.15

In the past two days, the Dow, S&P 500 and Nasdaq have all tacked on
more than 2%, helping to offset big losses from earlier in the week.

33.12
-0.45

43.22
-0.07

China's economy, the second biggest in the world, expanded at an


annualized pace of 8.1% in the first quarter, a sharp drop from the 8.9%
registered in the last quarter of 2011. Economists were looking for a
slightly better reading of 8.4%.
Asian shares managed to shrug off the disappointing data as market
participants are already looking forward to the see where growth is
headed in the current quarter. Analysts also cited the improving
chances the Beijing will act to stimulate growth. Although, some already
see improving conditions there.
"Credit and money data suggest that financing conditions are already
improving, which should in turn help stabilise economic growth and
reduce the need for aggressive stimulus," analysts at Barclays Capital
wrote in a note to clients following the report.
Show More

In Europe, traders fretted once again about the chance that a major
eurozone nation may not be able to sustain its public debt load. The
cost to insure against a Spanish default over the next five years jumped
to an all-time high, while insurance costs for Italian debt climbed as well,
according to data compiled by Reuters.
Spain's IBEX plunged 3.2%, while Italy's MIB tumbled 2.7%. Banking
shares, seen as particularly sensitive to sovereign-debt issues, took the
worst of the selling pressure.

GAS PRICES

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Oil Inches Lower; Natural Gas At 10-year Low


Peabody Energy 1Q Net Beats Views; Shares
Soar
US GAS: Prices Down, Near Fresh 10-Year
Lows, Ahead Of Data

Meanwhile, earnings season in the U.S. is revving up. Google (GOOG:


599.30, -8.15, -1.34%) revealed after the closing bell on Thursday a first
-quarter EPS that crushed analysts expectations, while revenue came in
-line with the consensus view.

http://www.foxbusiness.com/markets/2012/04/13/china-gdp-miss-weighs-on-st...

19-Apr-2012

Markets Slide Amid Weak Data, Euro Worries | Fox Business

JPMorgan Chase (JPM: 43.22, -0.07, -0.16%), the biggest U.S. bank
by assets, weighed in on Friday morning with results that topped
forecasts on the top and bottom lines. Wells Fargo (WFC: 33.12, -0.45,
-1.34%) revealed a first-quarter EPS of 75 cents on revenue of $21.6
billion, beating analysts expectations of 73 cents on $20.51 billion.
On the economic front, a survey by Reuters and the University of
Michigan showed consumer sentiment unexpectedly ticking lower in
April. The gauge came in at 75.7, compared to 76.2 in March. The
present conditions sub-index hit the lowest level since last December,
but the future expectations portion came in at its highest since
September 2009. That may mean that consumers are still bearish about
current conditions, yet hopeful about the future.

Page 2 of 4

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Prices at the consumer level increased by 0.3% in March, or 0.2%


excluding the food and energy components. The results come in-line
with Wall Street's forecasts. Data released on Thursday showed there
was no change in wholesale prices last month against expectations of a
mild pick up.
Energy futures ended to the downside. Crude oil traded in New York fell
81 cents, or 0.78%, to $102.83 a barrel. Wholesale New York Harbor
gasoline fell by a penny, or 0.32%, to $3.346 a gallon.
In metals, gold dropped $20.40, or 0.42%, to $1,674 a troy ounce.
Foreign Markets
European blue chips fell 2.8%, the English FTSE 100 dipped 1% to
5710 and the German DAX slumped 2.9% to 6569.
In Asia, the Japanese Nikkei 225 rallied 1.2% to 9638 and the Chinese
Hang Seng soared 1.8% to 20701.
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19-Apr-2012

Stocks: Worst week of the year, S&P 500 sinks 2% - Apr. 13, 2012

Page 1 of 2

Stocks: Worst week of the year, S&P 500 sinks 2%


By Hibah Yousuf @CNNMoneyMarkets April 13, 2012: 6:11 PM ET

Click the chart for more stock market data.

NEW YORK (CNNMoney) -- U.S. stocks stumbled Friday, following a two-day rally, closing lower for a second straight week
with the worst declines of the year.
The Dow tumbled 1.6%, while the S&P 500 sank 2% and the Nasdaq lost 2.3%.
At the start of the week,stocks were driven sharply lower by the ugly March jobs report and fresh worries about Europe's
debt crisis. They rebounded a bit toward the middle of the week, but fell sharply again Friday as a slowdown in China's
economy overshadowed a batch of better-than-expected earnings results.
The Dow Jones industrial average ( INDU) dropped 137 points, or 1.1%, on Friday, while the S&P 500 ( SPX) shed 17
points, or 1.3%, and Nasdaq ( COMP) lost 44 points, or 1.5%.
The Chinese economy grew at an annual pace of 8.1% in the first quarter, the country's National Bureau of Statistics said
Friday, marking a deceleration from an 8.9% growth rate in the prior quarter.
Fears are looming among many investors about a slowdown in China following years of breakneck growth, and what some
believe is an inflating property bubble. Others, however, are more optimistic; the World Bank predicts the Chinese
economy will slow to a 8.2% growth rate this year but rebound to 8.6% in 2013.
"Markets have been overemphasizing the risk of a hard landing in China," said Michelle Gibley, director of international
research at Charles Schwab. "Growth did slow, and it was weaker than expected, but I think this could prove to be the
trough, and economic growth will start to pick up."
Gibley highlighted the fact that the Chinese government has been easing its monetary policy, and expects those efforts to
make an impact on the economy through the course of the year.
China's slower growth weighed broadly on the market, with over 90% of the Dow's 30 components trading lower, including
JPMorgan Chase ( JPM, Fortune 500), despite a first-quarter earnings and revenue beat.
The bank posted earnings of $1.31 a share, which were lower from a year ago, but above analyst estimates of $1.17.
Shares dipped more than 3%.
Wells Fargo ( WFC, Fortune 500) also topped expectations, reporting earnings of 75 cents a share on $21.6 billion in
revenue, but the bank's stock also fell.
Investors to banks: Show me the growth

Shares of Bank of America ( BAC, Fortune 500), Goldman Sachs ( GS, Fortune 500) and Morgan Stanley ( MS,
Fortune 500), which all post results next week, were also lower.

http://money.cnn.com/2012/04/13/markets/stocks/index.htm

19-Apr-2012

Stocks: Worst week of the year, S&P 500 sinks 2% - Apr. 13, 2012

Page 2 of 2

"The bank earnings were decent, but we didn't see any home runs," said Peter Tuz, president at Chase Investment
Counsel. "And China's news is casting a negative pall, so it's natural for investors to take some money off the table,
especially after two strong days."
Investors were also skittish as the cost of insurance for Spanish debt rose to an all-time high, raising debt contagion fears in
the Eurozone, said Wells Fargo Advisors analysts.
U.S. stocks posted the best gains in a month on Thursday, with the Dow and S&P 500 jumping 1.4%.
Economy: A lower than expected reading on the University of Michigan's Consumer Sentiment Index also weighed on the
market. The index fell to 75.7 in April, from 76.2 in March. Analysts were expecting the index to slip to 76.1.
When will the Fed hike interest rates?

Meanwhile, the U.S. government reported that the Consumer Price Index, its key inflation metric, rose 0.3% in March, led
by increases in gas prices, with a year-over-year increase of 2.7%. The reading was in line with analyst expectations.
Companies: Google ( GOOG, Fortune 500) beat earnings expectations late Thursday, with a profit of $2.9 billion for the
first quarter, up 61% from a year earlier. Google's revenue climbed 24% to $10.7 billion. The company also announced an
unorthodox stock split. Shares of the search giant finished lower.
Coinstar ( CSTR) shares jumped after the company noted "stronger than anticipated consumer demand at Redbox" on
Thursday and raised its earnings outlook for the year.
Dow Chemical ( DOW, Fortune 500) shares edged higher after the company announced late Thursday that it will raise its
second-quarter dividend by 28% to 32 cents per share.
World markets: European stocks closed mixed. Britain's FTSE 100 ( UKX) gained 0.3%, while the DAX ( DAX) in
Germany fell 2.4% and France's CAC 40 ( CAC40) slipped 2.2%.
Asian markets ended higher. The Shanghai Composite ( SHCOMP) gained 0.4%, the Hang Seng ( HSI) in Hong Kong
climbed 1.8% and Japan's Nikkei ( N225) rose 1.2%.
Currencies and commodities: The dollar gained against the euro and the British pound, but slipped versus the
Japanese yen.
Oil for May delivery slipped 81 cents to settle at $102.83 a barrel.
Gold futures for April delivery fell $20.40 to settle at $1,659.10 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 2%, from 2.05% late
Thursday.
First Published: April 13, 2012: 9:43 AM ET

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http://money.cnn.com/2012/04/13/markets/stocks/index.htm

19-Apr-2012

Stocks slump on weak economic data - Apr. 19, 2012

Page 1 of 2

Stocks fall on weak U.S. economic data


By Hibah Yousuf @CNNMoneyMarkets April 19, 2012: 4:45 PM ET

Click the chart for more stock market data.

NEW YORK (CNNMoney) -- Stocks finished lower Thursday, as a trifecta of downbeat U.S. economic reports
overshadowed encouraging signs out of corporate America and Europe.
The Dow Jones industrial average ( INDU) dropped 69 points, or 0.5%, with McDonalds ( MCD, Fortune 500) and Alcoa
( AA, Fortune 500) dragging on the blue-chip index. Travelers ( TRV, Fortune 500) and Verizon ( VZ, Fortune 500)
were the biggest gainers, as both companies topped earnings expectations.
The S&P 500 ( SPX) fell 8 points, or 0.6%, while the Nasdaq ( COMP) lost 24 points, or 0.8%. eBay ( EBAY, Fortune
500) was the best performer on both indexes, with shares surging more than 13%. The e-commerce company reported
strong financial results for the quarter, and also raised its outlook for 2012.
Trading was choppy Thursday. Earlier in the session, the Dow and the S&P 500 were up over 0.3%, while the tech-heavy
Nasdaq had climbed 0.9%.
On the economic front, first-time unemployment claims declined but were still higher than what analysts expected.
Adding to the setback, existing home sales dipped 2.6%, a sign that the housing recovery remains on shaky ground. The
Philadelphia Fed regional manufacturing index also fell, coming in below expectations.
"We're getting some reminders that the U.S. economy is not in spectacular shape," said Matt King, chief investment officer
at Bell Investment Advisors. "It's growing, but at a very slow rate. With every two steps forward, it's taking one back."
Corporate earnings, on the other hand, have been better than expected. Of the 105 companies in the S&P 500 that have
reported quarterly results, more than 80% beat expectations, while 11% missed forecasts, according to Thomson Reuters.
Analysts are expecting overall S&P 500 first-quarter earnings to climb 6%, with revenues edging up 5%.
Meanwhile, investors were also mildly relieved that an auction of 2.5 billion of Spanish 10-year bonds drew strong
demand.
But Spain released a relatively low volume of bonds, helping to ensure that demand, noted Brian Barry, a fixed income
analyst with Investec in London.
U.S. is outlier in push to boost IMF resources

"They're trying to manage expectations," Barry said. "It's not necessarily a ringing endorsement of Spanish bonds." The
yield on the 10-year note shot up to 5.92% following the auction. Italian bond yields also rose, underscoring the continuing
concern about Europe's fiscal situation.
"Europe is going to be a market worry for the next few years at least," said King. "Policymakers have taken steps to address
some issues, but what Europe has is a long-term problem."

http://money.cnn.com/2012/04/19/markets/stocks/index.htm?source=cnn_bin

19-Apr-2012

Stocks slump on weak economic data - Apr. 19, 2012

Page 2 of 2

U.S. stocks closed down modestly Wednesday, as investors found new reasons to worry about Europe's economy.
Spain released data showing that its banks held more problem loans than expected, which added to concerns over the
country's finances.
Companies: Investors continue to parse through corporate earnings.
Ahead of Thursday's open, Bank of America ( BAC, Fortune 500) reported that its quarterly net income had declined
sharply versus last year, though the drop came after an accounting adjustment of nearly $5 billion. After factoring out nonoperating expenses, the company's earnings more than doubled from a year ago, sending shares higher.
Hostile takeovers are back

Morgan Stanley ( MS, Fortune 500), too, reported a large accounting adjustment that cut into its earnings. Excluding this
expense, earnings and revenue were up versus last year, and shares moved higher.
Nokia ( NOK) shares were down after the cellphone maker reported a steep first-quarter loss, struggling against strong
competition in the mobile market.
After Thursday's close, Microsoft ( MSFT, Fortune 500) reported lower first-quarter earnings that topped forecasts. Share
rose in after-hours trading.
Shares of luxury luggage maker Tumi ( TUMI) soared more than 47% in their stock market debut, after pricing above the
expected range in the company's initial public offering Wednesday. Splunk ( SPLK) shares nearly doubled on their first
day of trading, after also pricing above range on Wednesday.
Biotech firm Human Genome Sciences rejected a takeover bid from pharmaceutical maker GlaxoSmithKline ( GSK).
HGS ( HGSI) said the offer -- at $13 per share, or $2.6 billion -- "does not reflect the value inherent" in the company.
Shares of HGS soared 97%.
Shares of Sprint ( S, Fortune 500) tumbled after New York's attorney general filed a tax fraud lawsuit against the
wireless carrier, accusing it of intentionally underpaying sales tax in the state for seven years. Under New York state law,
Sprint could be on the hook for as much as $300 million, plus penalties, if it is found liable.
Shares of U.S. Airways ( LCC, Fortune 500) surged more than 15% following a Bloomberg report that three of American
Airlines' largest unions have agreed to back a possible takeover from the Tempe, Ariz.-based airline. AMR Corp.
( AAMRQ), parent company of American Airlines, went into bankruptcy last year and announced a quarterly net loss of
$1.7 billion on Thursday.
World markets: European stocks finished lower. Britain's FTSE 100 ( UKX) edged down slightly, while the DAX
( DAX) in Germany dropped 0.9% and France's CAC 40 ( CAC40) shed 2%.
Asian markets ended mixed. The Shanghai Composite ( SHCOMP) slipped by 0.1% and Japan's Nikkei ( N225) fell
0.8%, while the Hang Seng ( HSI) in Hong Kong gained 1%.
Currencies and commodities: The dollar rose against the euro and the Japanese yen but slipped versus the British
pound.
Oil for May fell 40 cents to settle at $102.27 a barrel. Gold futures for April delivery rose $1.80 to settle at $1,640.60 an
ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 1.95% from 1.98% late
Wednesday.
First Published: April 19, 2012: 9:47 AM ET

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http://money.cnn.com/2012/04/19/markets/stocks/index.htm?source=cnn_bin

19-Apr-2012

Wall Street Ends Turbulent Day in the Red | Fox Business

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A bout of weak economic data and continued concerns about major
eurozone countries overshadowed generally upbeat corporate earnings,
sending the markets skidding into the red.
Today's Markets
The Dow Jones Industrial Average fell 68.7 points, or 0.53%, to 12964,
the S&P 500 dipped 8.2 points, or 0.59%, to 1377 and the Nasdaq
Composite fell 23.9 points, or 0.79%, to 3008.
It's been another volatile week on Wall Street: stocks posted big gains
on Tuesday just to pull back on Wednesday and Thursday.
Looking at the broad markets, the worst performers by a wide margin
were industrial and technology companies. Out of the blue chips,
McDonald's (MCD: 95.28, -2.06, -2.12%), Alcoa (AA: 9.76, -0.19, 1.91%), Bank of America (BAC) and Caterpillar (CAT: 107.36, -1.39, 1.28%) posted the biggest losses.
Market participants bid up U.S. Treasury bonds amid the rising anxiety
on the day. As a result, the yield on the 10-year note fell 0.018percentage point to 1.963%.

Show More

GAS PRICES

More Stories

Oil Inches Lower; Natural Gas At 10-year Low


Peabody Energy 1Q Net Beats Views; Shares
Soar
US GAS: Prices Down, Near Fresh 10-Year
Lows, Ahead Of Data

Data Deluge
Traders had a bounty of economic data to sort through on the day.
Sales of existing single-family homes fell 2.6% in March to a 4.48-million
unit annualized rate, according to the National Association of Realtors.

http://www.foxbusiness.com/markets/2012/04/19/wall-street-ends-turbulent-da...

19-Apr-2012

Wall Street Ends Turbulent Day in the Red | Fox Business

Economists had expected sales to rise to an annualized rate of 4.62


million units.

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Manufacturing activity in the mid-Atlantic region expanded at the


slowest pace since January in April, according to the Philadelphia
Federal Reserve. The banks's monthly gauge hit 8.5 on the month from
12 the month prior. Economists were looking for a reading of 12.5.
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to 370,000 from an initially reported 380,000.
Eurozone Worries Still in Focus

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The debt crisis in Europe has once again come back into focus as the
yield on Spanish and Italian debt has started climbing amid concerns
about the countries' abilities to close their fiscal gaps amid a weak
economy.
The closely-eyed bond sale in Spain saw strong demand on Thursday.
The country sold 2.54 billion euro in two and 10-year notes, better than
its target of 2.5 billion. Bid-to-cover ratios, which are another measure of
demand, also improved markedly from the last auction. Still, the
strength came at a price: the borrowing cost on both increased, with the
10-year yield averaging 5.743%.
With anxiety still high, the cost to insure Spain's debt stayed near record
highs, according to London-based Markit, which records spreads on
sovereign credit default swaps. Spain's IBEX sold off by 1.6%, while the
U.S. dollar strengthened by 0.32% against a basket of six world
currencies tracked by the dollar index.
Earnings Season Revs Up
Earnings season is also in full swing, with a slew of major companies
reporting generally upbeat results on the day.
Bank of America (BAC: 8.77, -0.15, -1.68%) posted a first-quarter profit
of 3 cents a share, or 31 cents excluding an adjustment related to credit
spreads. Analysts were looking for the bank to earn 12 cents. Revenue
came in at $22.28 billion, lighter than the $22.51 billion expected.
Morgan Stanley (MS: 18.07, +0.41, +2.32%) posted a first-quarter loss
of 5 cents a share on continuing operations. Excluding a one-time
charge, the investment bank earned 71 cents, much stronger than the
44 cents analysts expected. Sales came in at $8.9 billion, stronger than
the $7.31 billion expected.
Verizon Communications (VZ: 38.15, +0.49, +1.30%) unveiled a firstquarter EPS of 59 cents on sales of $28.24 billion. The blue-chip
technology company was forecast to earn 58 cents on $28.17 billion.

http://www.foxbusiness.com/markets/2012/04/19/wall-street-ends-turbulent-da...

19-Apr-2012

Wall Street Ends Turbulent Day in the Red | Fox Business

Page 3 of 4

Travelers (TRV: 61.70, +2.23, +3.75%) revealed a first-quarter


operating profit of $2.01 a share on sales of $6.39 billion. Analysts
expected the Dow component to earn $1.52 a share on $5.71 billion.
DuPont (DD: 52.61, -0.66, -1.24%) said it earned $1.61 a share last
quarter, excluding one-time items, topping forecasts from analysts for
$1.55. The blue-chip company posted sales of $11.23 billion, which was
in-line with expectations.
Energy markets were mostly lower. Crude oil traded in New York dipped
40 cents, or 0.39%, to $102.27 a barrel. Wholesale New York Harbor
gasoline sold off by 5 cents, or 1.5%, to $3.154 a gallon.
In metals, gold rose $1.80, or 0.11%, to $1,641 a troy ounce.
Foreign Markets
European blue chips fell 1.9%, the English FTSE 100 slid 0.01% to
5745 and the German DAX dipped 0.9% to 6671.
In Asia, the Japanese Nikkei 225 slumped 0.82% to 9588 and the
Chinese Hang Seng rallied 1% to 20995.
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19-Apr-2012

Wall Street Ends Turbulent Day in the Red | Fox Business

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http://www.foxbusiness.com/markets/2012/04/19/wall-street-ends-turbulent-da...

19-Apr-2012

BSE Sensex falls; state-run banks under pressure - Yahoo! Finance

1 of 1

http://finance.yahoo.com/news/bse-sensex-falls-state-run-123152811.html

Reuters Fri, Apr 20, 2012 12:16 PM EDT

MUMBAI (Reuters) - The BSE Sensex snapped a four-day-rally as Reliance Industries fell ahead of its earnings results
while state-run banks declined on worries about their margins due to a government directive to lower their lending and
deposit rates.
Shares were also hit in the afternoon after Nifty futures dropped suddenly amid market speculation of a trading error.
The National Stock Exchange later said it had not spotted any errors on its trading systems.
After the market close, Reliance Industries (RELI.NS) said net profit in the fiscal fourth quarter fell 21.2 percent to 42.36
billion rupees, slightly below expectations. Shares had fallen 1.5 percent ahead of those results.
The main 30-share BSE index fell 0.74 percent to 17,373.84 points, while the 50-share NSE index lost 0.78 percent to
5,290.85.
The BSE index rose 1.6 percent this week, marked by a rally sparked by the Reserve Bank of India's aggressive 50 basis
points cut in the repo rate on Tuesday.
Lenders had rallied on hopes easing move would bolster growth, but investors are now growing concerned that lenders
are under pressure to lower lending and deposit rates sooner than they had hoped.
State-run banks were among the day's big decliners. Bank of Baroda (BOB.NS) fell 2 percent, while Bank of India
(BOI.NS) fell 2.2 percent.
"There are expectations or fear in the market that government will force PSU banks to cut rates in a hurry, (which) will
result in some contraction in margins in coming quarters," Manish Ostwal, a sector analyst at brokerage KR Choksey said,
referring to public sector unit banks.
Among other decliners, shares in cement manufactures fell for the second day, after posting a fall in quarterly profit on
Thursday.
Shares in ACC Ltd (ACC.NS) fell 1.6 percent, while Ambuja Cements (ABUJ.NS) fell 2.2 percent.
Trading in the afternoon was coloured by a sudden drop in Nifty futures, which fell as much as 6.7 percent at one point.
Dealers attributed the declines a potential trading error involving index futures and Infosys futures.
However, the National Stock Exchange said it had not spotted errors in its trading systems, denying the market
speculation.
(Reporting by Manoj Dharra; Editing by Rafael Nam)

Copyright 2012 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited
without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions take
in reliance thereon.
Copyright 2012 Yahoo! Inc. All rights reserved. /

24-Apr-2012 12:36 AM

The Hindu : Business / Markets : Sensex falls by over 125 points

1 of 1

http://www.thehindu.com/business/markets/article3336147.ece?css=print

Business Markets
Published: April 20, 2012 17:44 IST | Updated: April 20, 2012 17:44 IST

Sensex falls by over 125 points


IANS

PTI A broker reacts at a brokerage firm in Mumbai. File photo

Indian equities were in the red on Friday after a key index opened lower and closed trade 130 points down und
selling pressure. The index had risen more than 400 points this week after the countrys central bank announce
interest rate cut.
The sensitive index (Sensex) of the Bombay Stock Exchange (BSE) opened at 17,459.72, against the previous clo
17,503.71 points. After moving up to an intra-day high of 17,519.88 and touching a low of 17,231.34, it closed the
at 17,373.84, down 129.87 points, or 0.74 per cent.
The 50-scrip S&P CNX Nifty of the National Stock Exchange also ended the day 0.78 per cent or 41.55 points do
at 5,290.85 points.
There was an evident selling pressure, especially in capital goods, banking and power stocks. The BSE capital g
index was down 184.77 points at 9,873.98.
Top losers included Hindalco, down 3.15 points at Rs.125; Tata Power, down 2.45 points at Rs.105; ONGC, dow
6.10 points at Rs.266.15; BHEL, down 5.15 points at Rs.246.05; Larsen and Toubro (L&T), down 26.27 points a
Rs.1,292.50; and ICICI Bank, down 17.30 points at Rs.860.50.
Top gainers included Mahindra and Mahindra, up 20.40 points at Rs.726.65; Wipro, up 3.15 points at Rs.424.4
Tata Steel, up 3.40 points at Rs.470.40; Cipla, up 2.05 points at 321.10; and Coal India, up 1.25 points at Rs.36
The midcap index was down 63.21 points while the small cap index down 32.25 points.
While, 1,267 stocks advanced in the days trade, 1,335 scrips declined, with 116 stocks remaining unchanged.
Keywords: BSE, NSE, Sensex, Nifty
Printable version | Apr 24, 2012 10:06:56 AM | http://www.thehindu.com/business/markets/article3336
The

24-Apr-2012 12:37 AM

Euro Anxiety Knocks Stocks Lower | Fox Business

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U.S. and European markets sold off on Monday as traders worried
about renewed eurozone political instability and a round of weak
economic data.
Today's Markets
The Dow Jones Industrial Average fell 102 points, or 0.78%, to 12927,
the S&P 500 dipped 11.6 points, or 0.84%, to 1367 and the Nasdaq
Composite dropped 30 points, or 1%, to 2970.
The Dow was down slightly less than 183 points at the lows of the
session, meaning it was able to make a considerable comeback bid on
the day.
Show More

The selloff on Monday was fairly broad. All but three Dow components
ended in the red, with Wal-Mart (WMT: 59.54, -2.91, -4.66%), Bank of
America (BAC: 8.18, -0.18, -2.15%) and General Electric (GE: 19.07, 0.29, -1.50%) taking the heaviest losses.

GAS PRICES

More Stories

Oil Ends Down; Natural Gas Rallies Back To


$2/btus
Conoco 1Q Profit Falls 3%; Misses Views

Looking at the broader markets, basic materials and industrial


companies fell by the sharpest margin. The number of shares trading
hands in advancing shares outpaced that of declining shares by a ratio
of more than 5-to-one on the New York Stock Exchange, according to
data compiled by FOX Business.

Conoco Executive: To Continue Cutting Natural


Gas Output Due To Low Prices

http://www.foxbusiness.com/markets/2012/04/23/euro-anxiety-knocks-stocks-l...

23-Apr-2012

Euro Anxiety Knocks Stocks Lower | Fox Business

Traders scooped up U.S. Treasury bonds as they fled riskier asset


classes. The yield on the 10-year dropped 0.039-percentage point to
1.926% as a result, briefly touching a two-month low. Volatility jumped
5% as tracked by the CBOE's VIX, sometimes referred to as Wall
Street's fear gauge.

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MICROSOFT CO...

PFE
PFIZER INC....

K
KELLOGG...

Germany, Europe's powerhouse economy, saw activity in its important


manufacturing sector contract at a the swiftest pace in 33 months.
Meanwhile, France's key service-sector activity slumped to a six-month
low.

-0.83

BAC

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Markit's eurozone PMI gauge suggested the 17-member currency bloc's


economic output contracted at the swiftest pace in five months in April.
The measure came in at 47.4, down from 49.1 in March. Readings
above 50 point to expansion, while those below indicate contraction.

WMT

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-0.29

32.12

"Germanys economy continued to rest on a knife edge of recession in


April, with modest service sector growth only just counterbalancing the
escalating manufacturing downturn," Tim Moore, a senior economist at
Markit said in a note accompanying the data.
Also on the European front, talks aimed at bringing the Netherlands'
deficit in-line with a fiscal compact agreed to by all members of the
eurozone broke down. As a result, Prime Minister Mark Rutte and his
cabinet tendered their resignation, according to multiple media reports
citing the country's Government Information Service.

-0.30

22.38
-0.18

50.70

The developments in the Netherlands "not only threatens early elections


in the Netherlands, but also poses a significant threat to the effective
ratification of the fiscal compact, the central plank in (German)
Chancellor Merkels strategy for addressing the eurozone crisis,"
analysts at Nomura wrote in a note to clients.

-3.29

French President Nicolas Sarkozy came in second to Socialist


candidate Franois Hollande in a preliminary election contest. Sarkozy
is a major part of the eurozone's drive to enforce tough austerity
measures in its bid to fight the debt crisis. As a result, analysts said a
loss by Sarkozy could be destabilizing.
Many exchanges throughout the continent fell more than 2%. Traders
also bid up safe-haven Bunds in favor of comparatively risky French and
Dutch debt, increasing those spreads.
In Asia, another PMI survey by HSBC showed China's manufacturing
sector contracted at a slower rate in April from the month prior.
On the corporate front, Wal-Mart fell sharply after an article in the New
York Times accused the retail giant of silencing a bribery investigation
regarding its affiliate in Mexico. Fellow blue chip Pfizer (PFE: 22.38, 0.18, -0.80%) said that it will sell its infant nutrition business to Swiss
company Nestle for $11.85 billion.
There are also a slew of corporate earnings on tap for this week, with
176 companies set to report.
ConocoPhillips (COP: 72.33, -0.55, -0.75%) reported weaker-thanexpected adjusted quarterly profit, knocking sales lower. Kellogg (K:
50.70, -3.29, -6.09%) also posted a disappointing quarterly profit, and

http://www.foxbusiness.com/markets/2012/04/23/euro-anxiety-knocks-stocks-l...

23-Apr-2012

Euro Anxiety Knocks Stocks Lower | Fox Business

Page 3 of 4

pared back its full-year outlook.


Commodities were mixed. Crude oil traded in New York slid 77 cents, or
0.74%, to $103.11 a barrel. Wholesale New York harbor gasoline rose
1.4% to $3.19 a gallon.
In metals, gold fell $10.20, or 0.62%, to $1,633 a troy ounce.
Foreign Markets
European markets tumbled 2.9%, the English FTSE 100 fell 1.9% to
5666 and the German DAX sold off by 3.4% to 6523.
In Asia, the Japanese Nikkei 225 slipped 0.2% to 9542 and the Chinese
Hang Seng dropped 0.79% to 20624.
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23-Apr-2012

The Hindu : Business / Markets : Sensex plunges 277 points

1 of 1

http://www.thehindu.com/business/markets/article3345436.ece?css=print

Business Markets
Published: April 23, 2012 16:47 IST | Updated: April 23, 2012 22:09 IST

Sensex plunges 277 points


PTI

PTI Investors react as they watch the stock prices at a facade of BSE in Mumbai. File photo

The BSE benchmark index, Sensex tumbled 277 points to 17096.68 on Monday on across-the-board selling led
heavyweight Infosys ahead of settlement in this month's derivatives contracts and weak global markets.
Infosys dropped 3.92 per cent on reports that it may face heat as the U.S. Department of Homeland Security is
reviewing its employer eligibility after finding errors in identity verification forms of some of the company's sta
Marketmen also attributed the fall to a report that a hedge fund has exited short positions in India's single stoc
futures.
The decline was, however, cushioned by Reliance which gained 0.64 per cent despite a sharp dip in forth quarte
earnings, as they were in line with investor expectations.
The BSE 30-scrip index, Sensex, opened lower at 17347.76 and moved between 17444.18 and 17056.77. It closed
17096.68, down 277.16 points from Friday's closing of 17373.84, when it fell 130 points. The NSE 50-share inde
Nifty also dropped to 5200.60
Keywords: BSE, NSE, Sensex, Nifty, global markets
Printable version | Apr 24, 2012 10:09:41 AM | http://www.thehindu.com/business/markets/article33454
The

24-Apr-2012 12:40 AM

Europe and China weigh down stocks - Apr. 23, 2012

Page 1 of 2

Stocks end day down on China, Europe fears


By Maureen Farrell @CNNMoneyMarkets April 23, 2012: 4:41 PM ET

Click chart for more markets data.

NEW YORK (CNNMoney) -- European political uncertainty and another sign of a slowdown in the Chinese economy
pushed stocks down Monday, with the three major U.S. indexes falling more than 1% before rebounding somewhat in
afternoon trading.
Investors reacted to news that French President Nicolas Sarkozy came in second place in the first round of elections there
behind Socialist candidate Francois Hollande, who has been openly hostile to EU austerity measures.
Plus, the Dutch prime minister, Mark Rutte resigned, putting that country's prized AAA rating in jeopardy.
News of a slowdown in China's manufacturing sector also exacerbated investors' skittishness at the start of what will be a
busy week on the economic and earnings front.
"The events over the weekend re-ignited concerns that the European community is going to have trouble working out a
coordinated plan for austerity," said Douglas DePietro, head of equity sales trading at Evercore.
The Dow Jones industrial average ( INDU) ended the day down 102 points, or 0.8%. The S&P 500 ( SPX) shed 12
points, or 0.8%, and the Nasdaq ( COMP) lost 30 points, or 1%.
In the U.S., Wal-Mart ( WMT, Fortune 500) dragged down the Dow after it was hit by allegations that top executives in its
Mexican division attempted to conceal a widespread bribery scheme.
Shares closed down nearly 5%, and shares of its publicly traded Mexico unit dropped nearly 12%. The company says it is
investigating the allegations.
U.S. stocks finished mostly higher Friday, as investors welcomed another round of strong earnings from corporate
America and positive news out of Europe. However, the tech-heavy Nasdaq finished lower for a third straight week.
Europe: French President Sarkozy, one of the architects of the European agreement to avert sovereign debt default, lost
the first round of elections and will face Hollande in a May 6 runoff.
Europe: 'Dark clouds on the horizon'

Meanwhile, the Dutch Prime Minister's resignation prompted new elections, after one of his coalition partners in the
government withdrew due to negotiations over the 2013 budget. This could place the Netherlands' AAA credit rating at risk,
according to Kathleen Brooks, research director of Forex.com.
"Holland was once considered a 'safe' triple A nation, however, that may not be the case," Brooks wrote in a note to clients
Monday. "The Netherlands has overtaken France as the largest political risk this week."

http://money.cnn.com/2012/04/23/markets/stocks/index.htm?hpt=hp_t2

23-Apr-2012

Europe and China weigh down stocks - Apr. 23, 2012

Page 2 of 2

The latest reading on eurozone manufacturing also fell unexpectedly Monday to the lowest level since November, a sign
that the 17-nation block has fallen further into recession.
Worries that the problems in Europe are still not over were further driven home by Christine Lagarde, the managing
director of the International Monetary Fund. Lagarde warned at meetings of the IMF and World Bank over the weekend that
the "dark clouds on the horizon" for the global economy threatened the "light recovery blowing in a spring wind."
European stocks ended sharply lower on Monday. Britain's FTSE 100 ( UKX) shed 1.85%, while the DAX ( DAX) in
Germany plunged 3.4% and France's CAC 40 ( CAC40) dropped 2.8%.
World markets: Fueling investor concerns about the global economy was a preliminary reading on Chinese
manufacturing released early Monday, showing a contraction for the second straight month.
Asian markets ended lower across the region. The Shanghai Composite ( SHCOMP) shed 0.8%, the Hang Seng ( HSI)
in Hong Kong closed down 1.8% and Japan's Nikkei ( N225) slid 0.2%.
Companies: It was a busy merger Monday with two deals announced ahead of the open. Dow component Pfizer ( PFE,
Fortune 500) reached an agreement to sell its baby formula business to Nestl ( NSRGF) for $11.85 billion in cash. And
AstraZeneca ( AZN) announced it is buying Ardea Biosciences ( RDEA), a California-based biotechnology company, for
$1.3 billion, or $32 a share -- a 54% premium from Friday's closing price.
On Monday afternoon, Facebook announced that it would spend $550 million to buy part of Microsoft ( MSFT, Fortune
500)'s patent portfolio that it acquired from AOL ( AOL) two weeks ago for $1 billion.
Xerox ( XRX, Fortune 500), ConocoPhillips ( COP, Fortune 500), and Kellogg ( K, Fortune 500) released first-quarter
results ahead of the opening bell.
Xerox reported adjusted earnings of 23 cents a share, unchanged from a year earlier and matching forecasts. Its shares
spiked following the report, but closed up only slightly. ConocoPhillips posted improved earnings of $2.02 a share, but it fell
short of forecasts of a $2.08 a share. Its shares lost 0.8%.
Kellogg's shares plummeted 6% after the cereal company cut its outlook citing the slowdown in Europe.
Can Netflix pull a rabbit out of its hat?

Shares of Netflix ( NFLX) dropped nearly 14% in after hours trading on a weak outlook for the current quarter. Netflix
managed to beat analysts' estimates but that wasn't enough to help the stock. The company reported a first quarter loss of
8 cents per share better than forecasts for a 27 cents per share loss.
Currencies and commodities: One piece of good news for the U.S. economy is that average gas prices continued to
retreat farther away from the $4 level.
The biweekly Lundberg Survey marked its first decline of the year, while the daily survey from AAA showed its seventh
straight decrease, further raising hopes that gas prices might have already peaked for the year.
Gas prices keep easing away from $4

Oil for June delivery fell 77 cents to $103.11 a barrel.


The dollar gained strength against the euro and the British pound, but slipped against the Japanese yen.
Gold futures for June delivery lost $10.20 to $1,632.60 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury edged higher, pushing the yield down slightly to 1.93%.
First Published: April 23, 2012: 9:46 AM ET

2012 Cable News Network. A Time Warner Company. All Rights Reserved. Terms under which this service is provided to you. Privacy Policy. Ad choices

http://money.cnn.com/2012/04/23/markets/stocks/index.htm?hpt=hp_t2

23-Apr-2012

The Hindu : Business / Markets : Sensex tumbles 151 points

1 of 1

http://www.thehindu.com/business/markets/article3380384.ece?css=print

Business Markets
Published: May 3, 2012 16:35 IST | Updated: May 3, 2012 16:35 IST

Sensex tumbles 151 points


PTI

Led by a poor show in auto and banking stocks, the BSE benchmark Sensex on Thursday fell by 151 points on h
selling by foreign funds on weak earnings and a sliding rupee amid negative global cues.
The 30-share Sensex, which had lost 17 points in the previous session, fell by a further by 150.72 points, or 0.87
cent to close at 17,151.19.
On similar lines, the broad-based National Stock Exchange index Nifty fell 50.75 poins, or 0.97 per cent to settl
5,188.40.
Brokers said the foreign funds remained net sellers as the rupee falling to its four-month lows, raised concerns
the governments ability to bridge the gap in widening deficits.
They said the selling pressure further gathered momentum following weak earnings by Hero MotoCorp and FM
Major Marico. The negative trend in overseas markets fuelled by investor sentiment after weak economic data
released by US and Eurozone also played a role.
FIIs were also reluctant to create positions following the government proposals to introduce the General Anti
Avoidance Rule (GAAR) to curb evasion of taxes, brokers added.
The BSE Auto sectoral index suffered the most by losing 2.43 per cent to 10,209.04, followed by BSE Metal inde
that dropped by 1.75 per cent to 10,833.90. The BSE Bankex fell by 1.74 per cent to 11,653.70.
Major index losers were Hero MotoCorp, Maruti Suzuki, Tata Motors, Bajaj Auto, Mahindra and Mahindra, IC
Bank, Larsen and Toubro, Jindal Steel, State Bank of India, Tata Steel, Coal India, DLF, Gail India and ONGC.
However, bucking the overall trend, the BSE IT sector led by Infosys and Tata Consultancy Services (TCS) gaine
0.71 per cent as investors expected the weak rupee to aid margins.
Keywords: sensex, BSE, closing trade
Printable version | May 7, 2012 8:44:12 AM | http://www.thehindu.com/business/markets/article33803
The

06-May-2012 11:14 PM

Stocks stumble ahead of April jobs report - May. 3, 2012

1 of 3

http://money.cnn.com/2012/05/03/markets/stocks/index.htm

By Hibah Yousuf @CNNMoneyInvest May 3, 2012: 5:34 PM ET

NEW YORK (CNNMoney) -- U.S. stocks stumbled Thursday, as investors digested conflicting economic data ahead of
Friday's all-important jobs report.
The day started on an optimistic note, as a decline in weekly jobless claims lifted hopes ahead of the April jobs
reading, due Friday morning.
But shortly after the opening bell, investors were hit with a weaker-than-expected reading on the U.S. service sector, w
includes the retail, construction, financial services, health care and hotel industries. The Institute of Supply Manageme
Service index showed that the service sector had the slowest expansion of the year in April.
The Dow Jones industrial average ( INDU) dropped 62 points, or 0.5%, the S&P 500 (
and the Nasdaq ( COMP) fell 36 points, or 1.2%.

SPX) slipped 11 points, or 0

"It's all about jobs right now," said Kim Forrest, senior equity analyst at Fort Pitt Capital Group. "The better-than-expec
jobless claims number gave the market some hope for tomorrow, but the ISM Service index took that hope away."
While the monthly jobs number is always highly anticipated by market participants, the readings for April and May will
especially important for predicting the Federal Reserve's next steps, said Forrest. Its Operation Twist program, which
swaps short-term bonds on its balance sheet for longer-term securities, expires in June.
"The Federal Reserve will look at the April and May jobs number very closely to decide whether it needs to take furthe
action or can sit back and do nothing," Forrest said. "Part of the reason we've seen a small pullback in stocks recently
because it's still unclear what the Fed will do in June."
Economists surveyed by CNNMoney expect the Labor Department's data to show 160,000 jobs added in April. While
that's an improvement from March's weak growth, the pace is still slow compared to job gains in December, January a
February -- each of which exceeded 200,000.
If the upcoming reports continue to trend negative, "that would throw a pebble in the Fed's decision basket for taking s
action," Forrest said.
But anything that shows even modest improvement would allow the central bank to stay put, despite cries for a third ro
of long-term debt buying, known as quantitative easing, or QE3.

06-May-2012 11:10 PM

Stocks stumble ahead of April jobs report - May. 3, 2012

2 of 3

http://money.cnn.com/2012/05/03/markets/stocks/index.htm

U.S. stocks ended mixed Wednesday as investors digested the weak ADP report and mostly upbeat corporate results
World markets: European Central Bank officials voted Thursday to hold interest rates steady, even as the euro-are
economy slides toward recession. But ECB president Mario Draghi appeared to hint that there could be rate cuts in th
future.
European stocks finished mixed following Draghi's comments. Britain's FTSE 100 (
( DAX) in Germany slipped 0.2% and France's CAC 40 ( CAC40) lost 0.1%.

UKX) ticked up 0.2%, the DAX

Asian markets ended mixed. The Shanghai Composite ( SHCOMP) edged up just less than 0.1%, while the Hang Se
( HSI) in Hong Kong slid 0.3%. Tokyo was closed for a holiday.
Economy: Initial jobless claims for the week ended April 28 totaled 365,000, according to the Labor Department, whic
was less than expected.
Jobless claims were forecast to total 375,000, according to a survey of economists by Briefing.com -- an improvement
from the revised figure of 392,000 in the week prior.
The Institute of Supply Management's Service index pulled back to 53.5 in April, from 56 in March and below analyst
expectations. While a reading above 50 indicates growth, April's figure represented the slowest expansion in
non-manufacturing activity since December.
Facebook readies for mid-May IPO

Companies: Investors also continued to sort through a deluge of first-quarter corporate results.
Prudential Financial's ( PRU, Fortune 500) 10% tumble made it the worst-performing stock on the S&P 500. Late
Wednesday, the company posted a first-quarter loss of almost $1 billion.
Shares of General Motors ( GM, Fortune 500) fell more than 2% after the automaker reported strong first-quarter
earnings on good results in its domestic market, but took a hit on its bottom line from rising losses and special charges
Europe.
Green Mountain Coffee Roasters ( GMCR) was the biggest loser on the Nasdaq, as shares plummeted nearly 50%
The company reported quarterly revenue that missed estimates and lowered its guidance for 2012
Shares of online reviews site Yelp ( YELP) dropped after the company reported a net loss of $9.8 million, or 31 cen
per share, for the first quarter of 2012 -- its first as a publicly traded company. Yelp is in the process of investing in
international expansion.
Private equity firm The Carlyle Group ( CG) priced its IPO Wednesday evening at $22 per unit, which was lower tha
proposed $23 to $25 per unit range. Shares finished slightly higher on the first day of trading.
Facebook set the price range for its initial public offering between $28 to $35 a share and raised its offering size to $1
billion. If its IPO prices at the top of the range, the company would be valued at just shy of $75 billion. Facebook will se
actual price the night before it begins trading on the tech-heavy Nasdaq exchange under the ticker "FB."
After Thursday's closing bell, LinkedIn ( LNKD) posted a first-quarter profit that more than doubled from a year earlie
revenue jumped 100%. The company also announced that it is buying presentation-sharing website SlideShare for $11
million. Shares bounced in after-hours trading.
AIG ( AIG, Fortune 500) also said its first-quarter profit jumped two-fold, but the bailed-out insurer's stock dipped in
after-hours trading.
Currencies and commodities: The dollar rose against the euro, the British pound and the Japanese yen.
Oil for June delivery fell $2.68 to settle at $102.54 a barrel.

06-May-2012 11:10 PM

Stocks stumble ahead of April jobs report - May. 3, 2012

3 of 3

http://money.cnn.com/2012/05/03/markets/stocks/index.htm

Gold futures for June delivery dropped $19.20 to settle at $1,634.80 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury was little changed, with the yield holding steady around
1.92%.
Are you worried about how the 2012 presidential election will impact your investment portfolio? Which candidate do yo
think will be better for the stock market? E-mail Hibah.Yousuf@turner.com for the chance to be included in an upcom
story.
First Published: May 3, 2012: 9:51 AM ET

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The Dow Jones Industrial Average slid 168 points, or 1.3%, to 13038,
the S&P 500 fell 22.5 points, or 1.6%, to 1369 and the Nasdaq
Composite dipped 68 points, or 2.3%, to 2956.
For the week, the Nasdaq skidded 3.7%, the S&P 500 dropped 2.4%
and the Dow fell 1.4%. It was the worst week of 2012 for the S&P 500
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Treasury bonds, pushing the yield on the 10-year down 0.046percentage point to 1.880%.
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Wholesale gasoline, meanwhile, dropped 5.4% for the week.

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The monthly employment report from the Labor Department is widely


considered to be on of the most important pieces of data on the U.S.
economy. The economy added 115,000 jobs in April, far weaker than
the 170,000 gain that was expected. The unemployment rate fell 0.1percentage point to 8.1% for the month, compared to expectations of no
change. The March gain was also revised up to 259,000 from 240,000.
The so-called labor force participation rate, which tracks the proportion
of the working-age population either employed or actively seeking
employment, fell to 63.6% -- the lowest since 1981. That means more
people actually left the labor force over the course of the month.
"Ignoring the specifics of todays report, the larger theme of slower job
creation should now be embedded," Dan Greenhaus, chief global
strategist at BTIG wrote in an e-mail.
Michael Gapen, an economist at Barclays Capital said in a note to
clients that he does "not believe the April report signals conclusively that
the labor market has taken a turn for the worse." He also noted that the
weak data will likely not provide a sufficient impetus to cause a shift in
the Federal Reserve's policy at its June meeting.
Reports on major economies in the eurozone broadly came as a
disappointment on the day. The services sector in Germany, France,
Italy, and the currency bloc as a whole continue to contract amid strong
headwinds from the debt crisis. This weekend, there will be important
elections in France and Greece that analysts say could upset the fragile
political system there and put previous agreements in peril.
The elections have "the potential to escalate the [eurozone] crisis by
raising anxieties about fiscal discipline," Markit Chief Economist Chris
Williamson wrote in an e-mail.
In metals, gold gained $10.40, or 0.64%, to $1,645 a troy ounce.
Foreign Markets
European blue chips sold off by 1.7%, the English FTSE 100 tumbled
1.9% to 5655 and the German DAX fell 2% to 6561.
In Asia, the Japanese Nikkei 225 rose 0.31% to 9380 and the Chinese
Hang Seng slid 0.77% to 21086.
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Financial Express : Sensex extends losses for second week

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http://www.financialexpress.com/printer/news/945806/

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Print Story
Sensex extends losses for second week
Agencies
Posted online: 2012-05-05 16:15:37+05:30
MumbaiThe BSE benchmark Sensex continued its slide for the second week in a row, dropping by more than 350 points and
touching a three-month low of 16,831 due to persistent selling pressure from operators.
Higher fiscal deficit, rising inflation and lower industrial production data amid sustained fall in the rupee value to sub-53 level, a
more-than four-month low, against the dollar mainly affected the market sentiment, a broker said.
Selling was also witnessed on fears of capital gains on investments made last year, which may come under the controversial
General Anti-Avoidance Rule (GAAR) - proposed in the 2012-13 Budget. However, according to Finance Ministry officials,
GAAR is not expected to come into force with retrospective effect unlike amendments to the Income Tax Act.
The 30-share Sensex resumed higher at 17,195.51 but declined afterwards to close below 17,000 mark at 16,831.08, a net loss
of 356.26 points, or 2.07 per cent, from its previous weekend's level. The key index had settled at 16,751.73 on January 23,
2012.
The NSE's wide-based Nifty also plunged by 122.15 points, or 2.34 per cent, to settle at 5,086.85, a level not seen in more than
three months.
Auto, capital goods, power, banking, metal, PSUs and realty counters took severe beating.
Banking stocks slumped as the Reserve Bank of India's final guidelines to implement the Basel-III capital rules require banks to
steadily build up their capital buffers through March 2018.
A statement from the Asian Development Bank (ADB) about slow economic recovery in the US and further escalation of
financial crisis in Europe adversely impacted the market.
Two-wheeler giant Hero MotoCorp was the top loser from the Sensex pack, falling 9.28 per cent, even the company posted
20.33 per cent increase in net profit for the fourth quarter ended March 31, 2012.
As a result, other auto stocks like Tata Motor, Maruti Suzuki, Bajaj Auto and M&amp;M also finished with marked losses.
However, IT stocks rose on weak Indian currency. A weak rupee boosts revenue of IT firms in rupee terms as the tech sector
derives a lion's share of revenue from exports, mainly to the US.
Other major losers from the Sensex pack were Maruti (8.16 per cent), BHEL (6.65 per cent), SBI (6.45 per cent), Tata Steel
(6.39 per cent), Coal India (6.19 per cent), Larsen (5.91 per cent), Bajaj Auto (5.81 per cent), NTPC (4.65 per cent), Sterlite Ind
(4.35 per cent), Icici Bank (4.02 per cent), M&amp;M (3.76 per cent), Tata Motors (3.72 per cent), Tata Power (3.28 per cent),
Gail India (2.91 per cent) and Reliance Industries (1.82 per cent).
However, TCS shot up by 6.25 per cent followed by Cipla 4.73 per cent, Hindustan Unilver 4.34 per cent, Wipro 2.09 per cent,
Infosys 1.85 per cent and Bharti Airtel 1.56 per cent.
Among the major indices the BSE-Auto fell by 5.21 per cent followed by the BSE-Capital Goods 5.20 per cent, the BSE-Power
4.21 per cent, the Bankex 4.05 per cent, the BSE-Metal 3.71 per cent, the BSE-PSU 3.69 per cent, the BSE-IPO 3.63 per cent,
the BSE-Realty 2.82 per cent, the BSE Oil&amp;Gas 1.83 per cent and the BSE-FMCG 1.48 per cent.
Both the BSE-Midcap and the BSE-Samllcap indices declined by 2.73 per cent and 2.05 per cent respectively.
However, the BSE-IT shot up by 2.89 per cent, the BSE-Teck rose by 2.24 per cent and the BSE-Healthcare by 0.36 per cent.
The total turnover at BSE and the NSE fell to Rs 8,034.71 crore and Rs 39,915.45 crore respectively from the previous
weekend's level of 11,061.34 crore and Rs 54,479.77 crore.
Both the stock exchanges were closed on May 1, 2012 for Maharashtra Day.

05-May-2012 12:53 PM

The Hindu : Business / Markets : Asia stocks plunge after Europe election...

1 of 1

http://www.thehindu.com/business/markets/article3392678.ece?css=print

Business Markets
Published: May 7, 2012 08:17 IST | Updated: May 7, 2012 08:17 IST

Asia stocks plunge after Europe elections, U.S. data


AP

AP A trader talks on the phone at the Hong Kong Stock Exchange. File photo

Asian stocks are sliding after elections in Greece and France heightened uncertainty about Europes ability to s
its debt crisis.
Japans Nikkei 225 index has plunged 2.5 per cent on Monday to 9,142.47. Hong Kongs Hang Seng tumbled 2.
cent to 20,564.87. South Koreas Kospi shed 1.7 per cent.
In Greece, which has been battling a severe debt crisis for more than two years, no political party won enough v
to form a government.
In France, President Nicolas Sarkozy lost to Socialist candidate Francois Hollande, who had criticized the coun
austerity program and wants to boost government spending.
On Friday, U.S. stocks plunged after the government reported that hiring slowed sharply in April.
Keywords: Asia stocks, Europe eclections, U.S. data
Printable version | May 7, 2012 8:34:48 AM | http://www.thehindu.com/business/markets/article33926
The

06-May-2012 11:06 PM

The Hindu : Business / Markets : Equities dip on GAAR issue

1 of 2

http://www.thehindu.com/business/markets/article3397383.ece?homepage...

Business Markets
Published: May 8, 2012 16:49 IST | Updated: May 8, 2012 23:20 IST

Equities dip on GAAR issue


Special Correspondent

PTI The BSE benchmark, which had remained volatile in last few sessions, plunged to 16,546.18, a level last seen on January 18, 20
File photo

T
The 30-share Bombay Stock Exchange (BSE) Sensitive Index (Sensex) lost 366.53 points or 2.17 per cent on Tu
as foreign investors sought more clarifications on General Anti-Avoidance Rules (GAAR) proposals.
The Sensex closed at 16546.18. The fall was led by consumer goods sector with 3.44 per cent followed by inform
technology 3.09 per cent and banks 2.84 per cent.
A broader National Stock Exchange's S&P Nifty index closed below the 5000-mark at 4999.95, a fall of 114.20 p
or 2.23 per cent.
The late trade witnessed a sudden fall in indices. The General Anti-Avoidance Rules (GAAR) was intended to be
introduced from April 1, 2011. However, it has been deferred by one year.
There also seems to be an intent to shift the onus of proof from the tax payer to the tax department, which is v
welcome. However, a fundamental issue that still needs to be addressed is the trigger of GAAR itself the draf
proposal contemplates the trigger where one of the main purposes is to obtain a tax benefit'. Given that tax be
is worded unreasonably widely, one hopes that this issue will also be addressed, said Ketan Dalal, Joint Tax Le
PwC India.
PTI reports:
Rupee erases early gains
Reversing day's early gains, rupee closed lower by 21 paise at 53.12 against the dollar as relief to foreign funds o
strenuous GAAR provisions seemed short-lived. Forex dealers said the fall in rupee would have been steeper bu
RBI's intervention. Dealers said though General Anti-Avoidance rules (GAAR) had been postponed by one year
capital flows would take sometime to come back to Indian markets.

08-May-2012 11:34 PM

The Hindu : Business / Markets : Equities dip on GAAR issue

2 of 2

http://www.thehindu.com/business/markets/article3397383.ece?homepage...

The rupee had gained an impressive 56 paise on Monday after Finance Minister Pranab Mukherjee had deferre
implementation of GAAR by one year from April 2013 in Parliament. After touching a high of 52.68 in early trad
Tuesday, the rupee, moving in tune with the stock market, slumped to a low of 53.31 before concluding at 53.12
Keywords: Sensex, BSE, Nifty, NSE
Printable version | May 9, 2012 9:02:14 AM | http://www.thehindu.com/business/markets/article33973
The

08-May-2012 11:34 PM

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Published May 08, 2012 | FOXBusiness

FOX Business: The Power to Prosper


Traders dashed out of risky assets and into the shelter of U.S. Treasury bonds on Tuesday amid concerns political turbulence in
Greece will destabilize the eurozone.
Today's Markets
As of 3:11 p.m. ET, the Dow Jones Industrial Average fell 114 points, or 0.88%, to 12895, the S&P 500 slid 10.3 points, or 0.75%,
to 1359 and the Nasdaq Composite dipped 20.5 points, or 0.69%, to 2937.
The markets came back considerably from the lows of the session in afternoon trading. Indeed, the Dow had been down 198 points
at session lows.
The consumer discretionary sector took a big hit on the day following a weak earnings report from Fossil (FOSL), which tumbled
some 36%. The financial, energy and basic materials sectors fell sharply as well.
U.S. oil futures were under pressure for the fifth session in a row, having shed more than $9 over the period. On the day, crude was
lower by 93 cents, or 0.95%, to $97.01 a barrel. Wholesale New York harbor gasoline rose 0.68% to $2.99 a gallon.
In metals, gold tumbled $34.60, or 2.1%, to $1,605 a troy ounce.
Volatility jumped 3% as tracked by the CBOE's VIX, while the yield on the 10-year U.S. Treasury slumped 0.073-percentage point
to 1.845%. The breadth of the selling was wide, with more than seven declining shares trading hands on the New York Stock
Exchange for each advancing share.
Greek Worries Flare Up
Elections over the weekend in Greece saw the two mainstream political parties there failing to hold a combined majority in
parliament. The PASOK and New Democracy parties had been critical players in drafting agreements with eurozone leadership on
implementing deficit-cutting measures in exchange for bailout funds needed to avoid a default.
Reeling from the painful economic consequences of the austerity measures, votes were distributed between PASOK, New
Democracy and several other parties, all of which are trying to push for their own policies. All of the groups now have to work
together in forming a coalition government, which would require an agreement from no less than three parties, according to The
Wall Street Journal.
A situation where no government is formed may prompt fresh elections, while one that backtracks on austerity agreements may put
the country's crucially needed bailout at stake. In either case, analysts say the chance of a Greek exit from the eurozone currency
bloc can't be ruled out.
"Greece is a big concern," said David Jones, chief market strategist at London-based IG Index, adding that such a situation would
"definitely inject a lot of volatility into the market." Still, Jones cautioned that it may be awhile until the picture there becomes clearer.
Eurozone blue chips sold off by 2.1%. The euro fell 0.28% to $1.3015.
On the corporate front, McDonald's (MCD) said its global same-store sales climbed 3.3% in April, a slimmer gain than the 4.29%
analysts expected, according to Dow Jones Newswires.

http://www.foxbusiness.com/markets/2012/05/08/stocks-fall-as-greek-worries-... 08-May-2012

Greek Political Tumult Spooks Wall Street | Fox Business

Page 2 of 2

Foreign Markets
European blue chips fell 2.1%. the English FTSE 100 slipped 1.8% to 5555 and the German DAX dipped 1.9% to 6445.
In Asia, the Japanese Nikkei 225 rose 0.69% to 9182 and the Chinese Hang Seng slumped 0.25% to 20485.
Print

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Stocks tumble on Greece uncertainty - May. 8, 2012

Page 1 of 2

Stocks tumble on Greece uncertainty


By Ben Rooney @CNNMoneyInvest May 8, 2012: 4:50 PM ET

Click for more market data.

NEW YORK (CNNMoney) -- U.S. stocks sank Tuesday, although the major indexes closed off session lows, as Greece's
uncertain political situation keeps investors on edge.
The Dow Jones industrial average ( INDU) fell 76 points, or 0.6%, to 12,932. The S&P 500 ( SPX) tumbled 6 points, or
0.4%, to 1,364. The Nasdaq ( COMP) declined 11 points, or 0.4%, to 2,946.
The selling picked up steam during the morning, with the S&P 500 touching a 2-month low, as stocks in Europe fell sharply.
But major indexes in the United Sates pared losses in the last hour of trading.
All eyes continue to be on Europe, after Greece's main center-right party failed to form a coalition government. Now, the
left-wing coalition, which is opposed to austerity as the way to close Greece's debt gap, will have three days to form a
government.
The latest development is feeding investors' fears that Greece might have to drop out of the eurozone.
"The political stalemate in Greece is casting a shadow over risk markets in general and equities in particular," said Nick
Stamenkovic, investment strategist at RIA Capital Markets in Edinburgh. "Investors are questioning whether Greece will be
a part of the single currency at the end of this year."
The Greek stock market fell 3.6%, adding to sharp losses in the previous session.
Greece could drop euro but tragedy won't follow

As various parties grapple with forming a coalition government in Greece, it's looking increasingly likely that new elections
will need to be held, most likely in mid-June. That throws into question whether Greece will be forced to renegotiate its
bailout funding.
Greek leftist leader Alexis Tsipras on Tuesday laid out the radical agenda he hopes to pursue if he becomes prime
minister, including the cancellation of international loan agreements to Greece that forced the country into sharp budget
cuts.
Meanwhile, European Union leaders are grappling with the need to boost economic growth during a time of austerity.
Early Tuesday, European Council president Herman Van Rompuy set May 23 as the date for an unscheduled EU summit,
announcing on his Twitter feed that it would be an "informal dinner."
In addition to the "re-circulating woes in Europe," investors were also rattled by weak sales numbers from McDonalds, said
Peter Tuz, portfolio manager at Chase Investment Counsel in Charlottesville, Va.
"More uncertainty in Europe is not good for U.S. markets, nor is the weakness in consumer-oriented stocks," said Tuz.

http://money.cnn.com/2012/05/08/markets/stocks/index.htm

08-May-2012

Stocks tumble on Greece uncertainty - May. 8, 2012

Page 2 of 2

U.S. stocks recovered from a shaky start Monday, following elections in France and Greece over the weekend.
World markets: European stocks fell sharply late in the day to end lower. Britain's FTSE 100 ( UKX) was down 1.7%.
The DAX ( DAX) in Germany shed 1.9%. In France, the benchmark CAC 40 ( CAC40) fell 3% one day after Socialist
party leader Francois Hollande won the nation's presidential election.
In the bond market, investors bought 1.3 billion worth of short-term Greek government bills out of 2.6 billion offered. The
yield was 4.69%, up from 4.55% at the last auction in April.
Asian markets ended mixed. The Shanghai Composite ( SHCOMP) slid 0.1% and the Hang Seng ( HSI) in Hong Kong
lost 0.2%, while Japan's Nikkei ( N225) rose 0.7%.
Companies: Shares of fashion accessories maker Fossil ( FOSL) plunged after it reported first-quarter revenue that
fell short of even the lowest forecasts.
Fast-food chain Wendy's ( WEN) reported operating income of 1 cent a share, falling short of analysts' forecasts for a
profit of 3 cents a share.
Shares for Electronic Arts ( EA) slipped after the video-game maker cut its first-quarter outlook for the period ending in
June.
The Government Accountability Office issued a report Tuesday that the U.S. Treasury may eventually turn a $15.1 billion
profit on its bailout of insurer AIG ( AIG, Fortune 500) when all final payments and asset sales are complete.
McDonald's Corp.'s ( MCD, Fortune 500) same-store sales increased 3.3%, both globally and in the U.S. market.
Analysts were expecting sales to grow 5%, according to Reuters. Sales rose 3.5% in Europe, but only 1.1% in the unit that
includes Asia-Pacific, Middle East and Africa.
In other corporate news, shares of DirecTV ( DTV, Fortune 500) slipped even as the broadcast satellite provider reported
slightly better earnings and sales in line with forecasts.
Entertainment conglomerate and Dow component Walt Disney ( DIS, Fortune 500) will report earnings after the close.
The studio had a blockbuster weekend with "The Avengers," which broke records with box office sales of $200.3 million
during opening weekend. Those sales will not be included in this report, while an estimated $200 million in losses on epic
bomb "John Carter" will.
Currencies and commodities: The dollar gained strength against the euro and British pound, but fell versus the
Japanese yen.
Oil for June delivery fell 93 cents to end at $97.01 a barrel.
Gold futures for June delivery dropped $34.60 to settle at $1,604.50 an ounce.
Bonds: The price on the benchmark 10-year U.S. Treasury fell Tuesday, leaving the yield at 1.84%.
First Published: May 8, 2012: 9:39 AM ET

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08-May-2012

The Hindu : Business / Markets : Sensex falls on inflation concern; RIL, b...

1 of 1

http://www.thehindu.com/business/markets/article3417466.ece?css=print

Business Markets
Published: May 14, 2012 15:57 IST | Updated: May 14, 2012 16:28 IST

Sensex falls on inflation concern; RIL, banks take a hit


PTI

Falling for the fifth day in a row, the BSE benchmark Sensex on Monday dipped by 77 points on profit selling by
funds in bluechips following spurt in inflation.
The fall was led by Reliance Industries, which declined to a 52-week low on sustained selling. Besides, the bank
sector stocks fell as inflation rose during April, reducing chances of a cut in interest rates.
The Sensex, which has lost nearly 620 points in the last four sessions, fell further by 77.14 points, or 0.47 per ce
16,215.84.
Traders said selling emerged as inflation moved up to 7.23 per cent in April from 6.89 per cent in March.
The broad-based National Stock Exchange index Nifty fell by 21.10 points, or 0.43 per cent, to 4,907.80, led by
refinery, banking and realty sector stocks.
Sensex heavyweight RIL tumbled by 2.32 per cent to Rs 681.15, while shares of countrys largest lender State Ba
India fell 0.65 per cent to Rs 1,840.20 and HDFC Bank declined 2.02 per cent to Rs 500.50.
Other losers of the index kitty were BHEL, DLF, ICICI Bank, ONGC, Tata Motors, Tata Steel, Tata Consultancy
Services, Sterlite Industries, HDFC Ltd, NTPC and Jindal Steel.
The oil and gas sector index suffered the most with a loss of 1.69 per cent to 7,420.47, followed by banking inde
by 1.61 per cent to 10,661.64.
Realty index lost 1.27 per cent to 1,541.89 and Power index by 0.79 per cent to 1,808.48.
Bucking the trend, Larsen and Toubro gained 1.84 per cent to Rs 1,159.80 on fresh buying following strong qua
earnings.
Keywords: Stocks closing
Printable version | May 15, 2012 6:36:22 AM | http://www.thehindu.com/business/markets/article34174
The

14-May-2012 9:06 PM

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Concerns that the political instability in Greece will rattle the fragile
eurozone currency bloc sent traders across the globe racing out of risky
assets and into the shelter of safe havens.

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Today's Markets

112
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The Dow Jones Industrial Average slid 125 points, or 0.98%, to 12695,
the S&P 500 dipped 15 points, or 1.1%, to 1338 and the Nasdaq
Composite dropped 31.2 points, or 1.1%, to 2903.

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Selling was broad-based on the day. The S&P 500 closed at its lowest
level since February, while oil settled at its lowest value of 2012. Every
one of the 10 S&P 500 sectors was to the downside, and five were off
by more than 1%.
Energy and financial shares took the worst selling on the day. Indeed,
JPMorgan Chase (JPM: 35.79, -1.17, -3.17%) was the worst
performing blue chip after it unveiled a management shakeup following
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traders bid up safe-haven U.S. Treasury bonds. The yield on the 10year fell 0.053-percentage point to 1.788%.

http://www.foxbusiness.com/markets/2012/05/14/wall-street-gripped-by-euro-d... 14-May-2012

Wall Street Gripped by Euro Dread; S&P Hits February Closing Low | Fox Busin... Page 2 of 4

Elections a little more than a week ago fractured Greece's parliament,


requiring the agreement of several political parties to create a coalition
government. Talks have repeatedly failed as the country has struggled
to reconcile its immediate need for eurozone support with a public that
has grown tired of deep austerity measures and a depressed economy.
Another impasse was reached on Sunday and then again on Monday.
Leaders are set to meet again on Tuesday.
The worry among market participants it that if a consensus can't be
struck, it is likely that elections will have to be called in June. That puts
the country's bailout package, and membership in the eurozone, at
jeopardy. It remains unclear exactly what would result if Greece fell out
of the currency bloc.

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"Given the severity of the repercussions of an exit for all euro area
members, we believe that such a scenario will be avoided at all
cost," Sree Kochugovindan, an analyst at Barclays Capital, wrote in a
note to clients. "However, the risks have increased substantially."
Traders were also grappling with an unexpectedly weak reading on
eurozone industrial production. The gauge fell 0.3% in March, compared
to expectations of a 0.5% gain. This comes a day ahead of the release
of gross domestic product data for the currency bloc, which is forecast
so show a modest decline.
Also on the European front, Spain saw its yields rise at a short-term
debt auction on Monday from a previous debt sale. While the offering
saw strong demand, the rising borrowing costs have increased fears
that it will be the next country to be hit by the eurozone debt crisis.
Benchmark indexes in France, Italy and Spain were all down more than
2%. The euro fell 0.36% to $1.2870.
Commodities took a hit across the board as well. Oil traded in New York
tumbled $1.35, or 1.4%, to $94.78 a barrel. It was the lowest settlement
value of the year for crude futures.
Wholesale New York Harbor gasoline dipped 1.4% to $2.96 a gallon.
In metals, gold dropped $23.00, or 1.5%, to $1,561 a troy ounce.
Foreign Markets
Eurozone blue chips slid 2.3%, the English FTSE 100 dropped 2% to
5466 and the German DAX sold off by 1.9% to 6452.
In Asia, the Japanese Nikkei 225 edged higher by 0.23% to 8974 and
the Chinese Hang Seng shed 0.81% to 2616.
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fund data provided by Lipper. Economic data provided by Econoday. Dow Jones & Company Terms & Conditions.
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The Hindu : Business / Markets : Sensex tanks 252 points in early trade

1 of 1

http://www.thehindu.com/business/markets/article3424603.ece?homepage...

Business Markets
Published: May 16, 2012 09:48 IST | Updated: May 16, 2012 09:54 IST

Sensex tanks 252 points in early trade


PTI

PTI Stocks of auto, realty, banking, capital goods and metal sectors were under pressure, dragging down the Sensex.

The BSE benchmark Sensex fell sharply by over 252 points in the opening trade today on fresh selling by foreign
funds and retail investors, taking cues from weak Asian markets.
The 30-share barometer, which gained nearly 112 points in the previous sessions, fell by 252.07 points, or 1.54
cent, to 16,076.18.
Similarly, the wide-based National Stock Exchange Nifty index slid by 75.05 points, or 1.51 per cent, to 4,867.75
points.
Market experts said sentiments turned bearish largely on subdued trend on the other Asian bourses and profit
taking by speculators after previous sessions of gains.
In the Asian region, the Hong Kongs Hang Seng index shed 2.46 per cent and the Japans Nikkei was trading 1
per cent down this morning. In the U.S., the Dow Jones Industrial Average ended 0.50 per cent lower in the pre
session.
Keywords: sensex, share markets, stock markets
Printable version | May 16, 2012 12:39:49 PM | http://www.thehindu.com/business/markets/article34246
The

16-May-2012 3:10 AM

Choppy Trading: Dow Turns Red | Fox Business

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Choppy Trading: Dow Turns Red


By Adam Samson
Published May 15, 2012 | FOXBusiness

FOX Business: The Power to Prosper


The Dow turned negative once again in choppy trading as market participants grappled with the collapse of government talks in
Greece and a slew of economic data.
Today's Markets
As of 3:00 p.m. ET, the Dow Jones Industrial Average fell 32.2 points, or 0.26%, to 12663, the S&P 500 slipped 3.9 points, or
0.29%, to 1334 and the Nasdaq Composite gained 1.9 points, or 0.06%, to 2904.
Europe has been a major focus in recent sessions as market participants have worried that political upheaval in Greece may
reverberate through the eurozone currency bloc. Socialist leader Evangelos Venizelos said talks to forge a coalition government
once again failed on Tuesday and that the country will hold another set of elections. That calls into question Greece's membership
in the eurozone. Without the help of international lenders, it also won't be able to service its debt, making a default all the more
likely.
That news counteracted data showing Germany's gross domestic product grew at an annualized pace of 0.5% in the first quarter.
Economists were expecting a slower 0.1% growth rate for Europe's biggest economy.
Traders also had a slew of data on the U.S. economy to parse through.
The New York Federal Reserve's regional manufacturing gauge surged to 17.09 in May from 6.56 in April, topping expectations of
8.5. Readings above zero point to expansion, while those below indicate contraction. The more closely-watched reading from the
Philadelphia Fed is on tap for Thursday.
A separate report from the Labor Department showed prices at the consumer level were unchanged in the month of April, which
was in line with estimates. Excluding the food and energy components, prices were up 0.2%, which also matched economists
expectations. Both measures were up 2.3% from last year.
The Commerce Department said retail sales rose 0.1% in April from March, coming up short of the 0.2% increase expected.
Excluding the auto segment, sales were also up 0.1%, shy of a 0.2% estimate. The consumption sector is considered to be one of
the most important pieces of the U.S. economy, and analysts have been paying close attention to have customers have been faring
with high gasoline prices and a stubbornly weak jobs market.
On the corporate front, Home Depot (HD) reported a first-quarter EPS that matched Wall Street's expectations, but the world's
biggest home improvement retailer's revenue fell short. Shares of the blue chip were down in early trade.
JPMorgan Chase (JPM) also holds its shareholder meeting on the day. The biggest U.S. bank by assets will likely have to take
questions from shareholders roiled by the $2 billion trading blunder disclosed last week.
In commodities, oil traded in New York slipped 80 cents, or 0.84%, to $93.98 a barrel. Wholesale New York Harbor gasoline
slumped 0.5% to $2.94 a gallon.
Gold declined slightly to $1,557 a troy ounce.
Foreign Markets

http://www.foxbusiness.com/markets/2012/05/15/stocks-seek-direction-traders... 16-May-2012

Choppy Trading: Dow Turns Red | Fox Business

Page 2 of 2

Eurozone blue chips fell 1.1%, the English FTSE 100 slipped 0.51% to 5438 and the German DAX dipped 0.79% to 6401.
In Asia, the Japanese Nikkei 225 fell 0.81% to 8901 and the Chinese Hang Seng gained 0.81% to 19894.
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By Adam Samson

Published May 15, 2012

FOXBusiness
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79779 likes.Sign Up to see w hat your friends


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The Dow turned negative once again in choppy trading as market


participants grappled with the collapse of government talks in Greece
and a slew of economic data.

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Morici: A Recession is
Coming

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Today's Markets

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As of 3:00 p.m. ET, the Dow Jones Industrial Average fell 32.2 points, or
0.26%, to 12663, the S&P 500 slipped 3.9 points, or 0.29%, to 1334 and
the Nasdaq Composite gained 1.9 points, or 0.06%, to 2904.

RELATED STOCKS

HD
THE HOME DEP...

JPM
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keep your home
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48.67
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36.24
+0.45

Europe has been a major focus in recent sessions as market


participants have worried that political upheaval in Greece may
reverberate through the eurozone currency bloc. Socialist
leader Evangelos Venizelos said talks to forge a coalition government
once again failed on Tuesday and that the country will hold another set
of elections. That calls into question Greece's membership in the
eurozone. Without the help of international lenders, it also won't be able
to service its debt, making a default all the more likely.
That news counteracted data showing Germany's gross domestic
product grew at an annualized pace of 0.5% in the first quarter.
Economists were expecting a slower 0.1% growth rate for Europe's
biggest economy.
Traders also had a slew of data on the U.S. economy to parse through.
The New York Federal Reserve's regional manufacturing gauge surged
to 17.09 in May from 6.56 in April, topping expectations of 8.5. Readings
above zero point to expansion, while those below indicate contraction.
The more closely-watched reading from the Philadelphia Fed is on tap
for Thursday.
A separate report from the Labor Department showed prices at the
consumer level were unchanged in the month of April, which was in line
with estimates. Excluding the food and energy components, prices were
up 0.2%, which also matched economists expectations. Both measures
were up 2.3% from last year.
The Commerce Department said retail sales rose 0.1% in April from
March, coming up short of the 0.2% increase expected. Excluding the
auto segment, sales were also up 0.1%, shy of a 0.2% estimate. The
consumption sector is considered to be one of the most important
pieces of the U.S. economy, and analysts have been paying close
attention to have customers have been faring with high gasoline prices
and a stubbornly weak jobs market.

Show More

GAS PRICES

More Stories

Chesapeake Confirms Upsized Debt


Offering Of $4 Billion
US Stocks Slide Amid Greek Political,
Bank Uncertainty
Greek Woes Pressure Stocks in Choppy
Session

On the corporate front, Home Depot (HD: 48.67, -1.21, -2.43%)

http://www.foxbusiness.com/markets/2012/05/15/stocks-seek-direction-traders... 16-May-2012

Choppy Trading: Dow Turns Red | Fox Business

Page 2 of 3

reported a first-quarter EPS that matched Wall Street's expectations, but


the world's biggest home improvement retailer's revenue fell short.
Shares of the blue chip were down in early trade.
JPMorgan Chase (JPM: 36.24, +0.45, +1.26%) also holds its
shareholder meeting on the day. The biggest U.S. bank by assets will
likely have to take questions from shareholders roiled by the $2 billion
trading blunder disclosed last week.
In commodities, oil traded in New York slipped 80 cents, or 0.84%, to
$93.98 a barrel. Wholesale New York Harbor gasoline slumped 0.5% to
$2.94 a gallon.
Gold declined slightly to $1,557 a troy ounce.
Foreign Markets
Eurozone blue chips fell 1.1%, the English FTSE 100 slipped 0.51% to
5438 and the German DAX dipped 0.79% to 6401.
In Asia, the Japanese Nikkei 225 fell 0.81% to 8901 and the Chinese
Hang Seng gained 0.81% to 19894.
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Euro Tumbles the Start of a Much Bigger Breakdown


(DailyFX)

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Greece Does an About-Face on Bond Swap Holdouts


Retail Sales Rise Less Than Expected in April

Celebrities Who Are Proud To Be Republican (Zimbio)


Greece: sinking ships (Financial Times)
[What's This?]

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http://www.foxbusiness.com/markets/2012/05/15/stocks-seek-direction-traders... 16-May-2012

Choppy Trading: Dow Turns Red | Fox Business

Manhattan Associates
Beats on Both Top and
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Facebook Share Price


Increases as High
Demand Closes IPO
Orders Early

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Dimon in the Rough: JPM DAX 30, CAC 40, FTSE


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Quotes delayed at least 15 minutes. Real-time quotes provided by BATS Exchange. Market Data provided by Interactive Data (Terms & Conditions). Powered and
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http://www.foxbusiness.com/markets/2012/05/15/stocks-seek-direction-traders... 16-May-2012

Greece worries weigh on U.S. stocks - May. 16, 2012

Page 1 of 3

Greece worries weigh on U.S. stocks


By Hibah Yousuf @CNNMoneyInvest May 16, 2012: 4:51 PM ET

Click the chart for more stock market data.

NEW YORK (CNN Money) -- Following a positive start, U.S. stocks closed in the red for a fourth straight session
Wednesday, as investors weighed strong U.S. economic data against ongoing uncertainty about Greece's political situation.
The Dow Jones industrial average ( INDU) fell 33 points, 0.3%, finishing at the lowest level since mid-January.
The S&P 500 ( SPX) dropped 6 points, or 0.4%, and the Nasdaq ( COMP) lost 20 points, or 0.7%. Both indexes closed
at the lowest level since early February.
Investors started the day encouraged by data that showed U.S. housing starts rebounded from a five-month low and
industrial production posted its fastest growth in over a year. Later in the day, anxiety over Greece's future took
precedence.
After politicians in Athens failed to agree on a coalition government, President Karolos Papoulias called for all parties to set
up a caretaker government that will conduct new elections next month.
The instability in Greece raises questions as to whether the country will be forced to leave the eurozone and what such a
move would mean for other troubled European economies.
European leaders scramble to contain Greek debt crisis

"We're not at a tipping point yet, but there's concern that we could get there if the Greek election on June 17 goes the way
of the previous one -- with an inconclusive result," said Michael Hewson, analyst at CMC Markets in London.
Investors were also spooked following reports that the European Central Bank has stopped providing liquidity to some
Greek banks.
Despite the uncertainty, comments from European leaders helped stem some pressure. German Chancellor Angela
Merkel reiterated that her country wants Greece to remain in the eurozone and will make every effort to help the nation get
on solid footing. She said she agreed with France's newly elected president Francois Hollande to consider measures to
spur growth in Greece.
Spanish Prime Minister Mariano Rajoy also said it would be 'a very big mistake' if Greece were to exit.
Borrowing costs initially surged, with Spain's 10-year yield jumping to 6.5%, before pulling back to 6.3%. Italian bond yields
also jumped to 6% before easing to 5.8%.
While Europe's debt crisis remains a broad concern for U.S. investors, hopes are high that U.S. financial institutions have
had ample time to protect themselves from the effects of contagion.

http://money.cnn.com/2012/05/16/markets/stocks/

16-May-2012

Greece worries weigh on U.S. stocks - May. 16, 2012

Page 2 of 3

"The U.S. banks have been taking many more steps to deal with delinquent loans and against European sovereigns,
something that European leaders have been extremely bad at," said Hewson.
Moreover, while the 27-nation European Union and the 17-nation eurozone are teetering on the edge of recession, the
U.S. economy continues to grow, albeit at a slow pace.
U.S. stocks closed at three-month lows Tuesday as the eurozone debt crisis continued to take a toll on the markets.
World markets: European stocks closed mixed. Britain's FTSE 100 ( UKX) rose 0.1% and France's CAC 40 ( CAC40)
added 0.3%, while the DAX ( DAX) in Germany slipped 0.3%.
Asian markets ended lower. The Shanghai Composite ( SHCOMP) fell 1.2% and Japan's Nikkei ( N225) dropped 1.1%,
while the Hang Seng ( HSI) in Hong Kong plunged 3.2%.
Economy: Housing starts jumped to an annual rate of 717,000 in April, from the revised level of 699,000 in March.
Analysts surveyed by Briefing.com had expected a rate of 680,000.
Meanwhile, building permits fell to an annual rate of 715,000 in April, from the revised figure of 769,000 in March. Analysts
expected permits to fall to 730,000.
April's reading "supports our view that housing is in recovery mode," said Paul Diggle, property economist at Capital
Economics. "We expect housing starts to rise further later this year."
Diggle also added that he doesn't expect the latest escalation in Europe to derail the U.S. housing recovery.
"After all, the fallout for the U.S. banking system from a Greek exit will be relatively limited," he said. "The flow of credit to
homebuilders, institutional buyers and households therefore shouldn't become materially tighter, allowing the volume of
housing starts to continue rising."
The Fed's reading on the nation's factory output was also better than expected. Industrial production rose 1.1% in April,
rising at the fastest pace since December 2010. Economists were forecasting that industrial production rose 0.5% in April
after being unchanged the previous month.
Meanwhile, the Fed also released the minutes from the April meeting of the Federal Open Market Committee.
According to the minutes, "several members indicated that additional monetary policy accommodation could be necessary if
the economic recovery lost momentum or the downside risks to the forecast became great enough."
In previous minutes, only "a couple of members" expressed support for further stimulus.
Companies: Facebook boosted the size of its IPO by 25%, seeking to raise up to $16 billion, according to an SEC filing.
Should you buy Facebook?

Shares of retailer JC Penney ( JCP, Fortune 500) tumbled after it reported a much bigger than expected loss for the most
recent quarter. The company also discontinued its dividend.
Staples ( SPLS, Fortune 500) reported earnings in line with expectations, but a surprise 1% drop in sales sent shares of
the office supply company lower.
Shares of Deere ( DE, Fortune 500) were lower even after the company beat expectations on its quarterly results and
raised its forecast.
Target ( TGT, Fortune 500) also beat expectations and increased its forecast, pushing shares higher.
Facebook: The IPO of the Virtual Passport -- StockTwits

According to documents filed with the SEC, Warren Buffett's Berkshire Hathaway ( BRKA, Fortune 500) built new
positions in General Motors ( GM, Fortune 500) and Viacom ( VIA) during the first three months of 2012.
The director of the FBI said Wednesday that the agency has opened an investigation into JPMorgan Chase ( JPM,
Fortune 500), the nation's largest bank, a week after the bank disclosed a $2 billion trading loss.

http://money.cnn.com/2012/05/16/markets/stocks/

16-May-2012

Greece worries weigh on U.S. stocks - May. 16, 2012

Page 3 of 3

Shares of Martin Marietta ( MLM) tumbled into the close after hedge fund manager David Einhorn of Greenlight Capital
said the company has many problems, while speaking at the Ira Sohn Research Conference in New York.
Shares of Amazon ( AMZN, Fortune 500) also slipped after the famed short seller knocked the company. Einhorn also
remains favorable on Apple ( AAPL, Fortune 500).
Meanwhile, shares of Herbalife ( HLF) popped 17% due to the fact that Einhorn didn't mention the company. Earlier this
month, its stock took a hit after Einhorn posed a series of questions to Herbalife executives during its earnings conference
call, asking for details about sales sources and disclosures that have been provided in the past.
Currencies and commodities: The dollar gained gained strength against the euro, British pound and Japanese yen.
Keystone isn't the only pipeline

Oil for June delivery fell $1.17 to $92.81 a barrel, the lowest since November.
Gold futures for June delivery lost $20.50 to settle at $1,536.60 an ounce, the lowest since last July.
Bonds: The price on the benchmark 10-year U.S. Treasury edged higher, pushing the yield down to 1.76% from 1.79%
late Tuesday.
First Published: May 16, 2012: 9:54 AM ET

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Economically-sensitive stocks were pounded on Thursday as worries


mounted about the sputtering U.S. economic recovery and the
deepening European debt crisis. Traders bid up Treasury bonds,
knocking the yield on the 10-year down to its lowest level on record.

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Today's Markets
28

The Dow Jones Industrial Average fell 156 points, or 1.2%, to 12442,
the S&P 500 slipped 19.9 points, or 1.5%, to 1305 and the Nasdaq
Composite slid 60.4 points, or 2.1%, to 2814.

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The consumer discretionary, industrial, financial and basic materials


sectors struggled the most on the day. These areas are seen as
especially vulnerable to a slowing of the world's economy. Indeed,
machinery behemoth Caterpillar (CAT: 87.80, -4.06, -4.42%) yanked
30.7 points off of the Dow's overall performance. Wal-Mart (WMT:
61.68, +2.49, +4.21%) helped counterbalance the loss for the blue chips
after it posted better-than-expected quarterly results.
In a sign of the anxiety on Wall Street, traders rushed into the safety of
U.S. Treasury bonds. The yield on the 10-year note dropped 0.063percentage point to 1.702% -- the lowest in history. Volatility jumped
4.6% as tracked by the CBOE's VIX.

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Your Mileage
US GAS: Futures Drop As Inventory
Build Is Bigger Than Expected
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33.93
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Key Regional Manufacturing Survey Signals Contraction


The Philadelphia Federal Reserve's manufacturing gauge tumbled to -

http://www.foxbusiness.com/markets/2012/05/17/stocks-walloped-by-mountin...

17-May-2012

Stocks Walloped by Mounting EU, Economic Fears | Fox Business

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Gap 1Q Beats on Strong
U.S. Demand, Lifts
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5.8 in May, from 8.5 in April. Economists were expecting an increase to


10. Reading above 0 point to expansion, while those below indicate
contraction.
Data from the New York Fed covering the Empire State region released
earlier in the week came in well ahead of expectations.

Page 2 of 4

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FHA Cuts Refi Requirement

"It's obvious that the escalation of turmoil in Europe is weighing on


investment and hiring decisions among US businesses," analysts at
Nomura wrote in a note to clients following the report. They also added
that this could bode poorly for this month's jobs read, as manufacturing
jobs have recently been a bright spot.

If you owe less than $625,000, the Fed wants you to


refinance!
www.SeeRefinanceRates.com

Separately, the Labor Department said new claims for unemployment


benefits remained unchanged at 370,000 last week from the week prior.
Economists were expecting claims to rise to 367,000 from an initially
reported 365,000. Analysts have been paying particularly close attention
to the weekly reports amid signs the rate of job growth in the U.S. may
be slowing down dramatically.
Eurozone Worries Flare Up
The markets have been hit hard by worries that the deteriorating
situation in Greece may cascade into other eurozone nations, such as
Spain.
In Europe, stocks were broadly lower on the day, with bourses in Italy,
Spain and Greece taking especially heavy selling.
Adding to the worries were several news reports suggesting Moody's is
planning on slicing its rating on several Spanish lenders as early as
Thursday evening. Analysts have been paying especially close attention
to the country amid concerns it may take a hit from the turbulence in
Greece. In fact, Fitch cut its long-term credit rating on Greece to CCC
from B-, citing a heightened risk the country may be jettisoned from the
eurozone.
Commodities markets were mixed. Crude oil traded in New York fell 31
cents, or 0.33%, to $92.50 a barrel. Wholesale New York harbor
gasoline dipped 1.5% to $2.88 a gallon.
In metals, gold soared $38.30, or 2.5%, to $1,575 a troy ounce.
Foreign Markets
Eurozone blue chips sold off by 1.3%, the English FTSE 100 dipped
1.2% to 5338 and the German DAX tumbled 1.2% to 6309.
In Asia, the Japanese Nikkei 225 rose 0.86% to 8877 and the Chinese
Hang Seng edged lower by 0.31% to 19201.
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[What's This?]

http://www.foxbusiness.com/markets/2012/05/17/stocks-walloped-by-mountin...

17-May-2012

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fund data provided by Lipper. Economic data provided by Econoday. Dow Jones & Company Terms & Conditions.
This material may not be published, broadcast, rewritten, or redistributed. 2012 FOX News Network, LLC. All rights reserved.

http://www.foxbusiness.com/markets/2012/05/17/stocks-walloped-by-mountin...

17-May-2012

BBC News - Markets drop on eurozone worries

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BUSINESS
17 May 2012 Last updated at 18:40 ET

Markets drop on eurozone worries


Market Data
Dow Jones

LAST UPDATED AT 20:57 ET

12442.49

-156.06

-1.24%

Nasdaq

2813.69

-60.35

-2.10%

S&P 500

1304.86

-19.94

-1.51%

FTSE 100

5338.38

-66.87

-1.24%

Dax

6308.96

-75.30

-1.18%

BBC Global 30

5752.45

-14.36

-0.25%

Marketwatch ticker

DATA DELAYED BY 15 MINS

Concern over the eurozone debt crisis has continued to weigh on financial markets.
The euro fell for the sixth day against the US dollar, to $1.2688, as an interim Greek government was sworn in to steer the debtridden country into repeat elections in June.
European and US shares also declined, led by financial stocks.
Shares in Spain's Bankia dropped 15%, which reflects broader fears about the health of the Spanish banking sector.
Shares in French banks like Societe Generale and BNP Paribas dropped more than 3%.
In Germany, Deutsche Bank fell 1.9% and Commerzbank dropped 1.4%. The stock exchange Deutcshe Boerse was down more
than 7%.
UK banks also dropped, with Barclays down 3.8% and Royal Bank of Scotland declining 3.7%.
The Spanish government also had to pay sharply higher rates of interest to borrow money on the bond markets, raising investor
fears that the worst-case scenario - a bailout - will eventually be needed.
And ratings agency Moody's cut the credit ratings of 16 Spanish banks, a further blow to a country that is struggling to deal with
the bad debts of its banking sector.
'Start a fire'

Moodys also downgraded the credit ratings of four of Spain's regions - Catalonia, Murcia, Andalucia and Extremadura - and
warned there was only a "low probability that the regional governments will be able to meet the 2012 deficit target".

http://www.bbc.co.uk/news/business-18108716

17-May-2012

BBC News - Markets drop on eurozone worries

Page 2 of 2

Greece was also downgraded, to CCC from B-, by rival agency Fitch, which cited political uncertainty over the country's
commitment to its last bailout and possible exit of the eurozone.
With Greece facing elections and France under newly-elected President Francois Hollande refusing to sign a pact to force nations
to rein in debt, many feel that Europe is in disarray.
In New York, European Commission president Jose-Manuel Barroso told the UN that European Union member states and
institutions would "do whatever is necessary" to overcome the crisis.
"We need to stay the course, without being blind to an evolving economic situation," he said. "Fortunately, the rule book allows for
adaptability while remaining firmly focused on sustainability and ensuring sound public finances."
Writing in The Scotsman newspaper, Alistair Darling, who was the previous chancellor, said the impact of a Greek exit could be
severe.
"A Greek exit could start a fire that would spread all along the Mediterranean as other countries would come under pressure," he
wrote. "The repercussions, particularly in the banking sector, could cripple Europe for years to come."
The UK government has said the Treasury has been drawing up contingency plans in the wake of growing concern about the
future Greece's membership of the euro.
A Downing Street spokeswoman confirmed the National Security Council has been involved in the plans "for some time".

More Business stories

Facebook shares valued at $100bn


[/news/business-18105608]
Facebook prices its shares at $38 each ahead of one of the most eagerly anticipated share flotations in recent stock market history.
Moody's downgrades Spanish banks
[/news/business-18100049]
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[/news/business-18112983]

BBC 2012 The BBC is not responsible for the content


of external sites. Read more.

http://www.bbc.co.uk/news/business-18108716

17-May-2012

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Business Markets
Published: July 12, 2012 17:53 IST | Updated: July 12, 2012 17:53 IST

Sensex crashes by 257 points


PTI

The Sensex today crashed by 257 points, its worst single-day fall in nearly seven weeks, after IT major Infosys sharp
cut in earnings outlook soured market sentiment prompting investors to shrug off even better-than-expected factory
output growth in May.
The BSE benchmark index, which had lost 129 points in the previous session, dropped further by 256.59 points, or
1.47 per cent to close at 17,232.55, recording the biggest single-day fall for the 30-share index after June 1 this year.
While Infosys first quarter profit at Rs 2,289 crore came in lower than expected, the stock tanked over 8 per cent as
the company revised it FY13 US dollar revenue growth guidance to 5 per cent year-on-year compared to 8-10 per cent
given at the end of March quarter.
Its larger rival TCS, which is expected to announce earnings later in the day, closed 1.80 per cent down while Wipro
shed 4 per cent as sentiment turned weak. The IT index lost a whopping 5.11 per cent on the BSE.
Infosys results disappointed on all counts... the key issue now is will a price war start in the sector and hence even
other companies could start exhibiting signs of strain, said Bhuvnesh Singh, analyst, Barclays.
As many as 21 stocks in Sensex today lost value with Bharti, M&M, Tata Motors and L&T losing in the 1.75-3 per cent
range as weak Asian cues and lower opening in Europe hit mood.
Keywords: share markets, stock markets, sensex
More In: Markets | Business
Printable v ersion | Aug 1 0, 2 01 2 8:2 0:1 9 AM | http://www.thehindu.com /business/m arkets/article3 63 1 6 53 .ece
The Hindu

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Business Markets
Published: July 20, 2012 16:50 IST | Updated: July 21, 2012 02:25 IST

Sensex sheds 120 points


PTI

Shares fell on Friday on concerns over differences in the UPA coalition with the BSE Sensex dropping by 120 points,
snapping a three-day upsurge.
Banking, capital goods, realty and power stocks dropped the most on reports that the Reserve Bank of India was
planning to tighten norms for loan restructuring of corporates. Under the impact of slowdown, several companies are
knocking the doors of banks seeking recast of their debt burden.
The BSE benchmark index fell by 120.41 points to 17158.44. Similarly, the 50-share National Stock Exchange index
Nifty fell by 37.60 points to 5205.10.
Brokers said investors became cautious following differences between the Congress and Agriculture Minister Sharad
Pawar-led NCP which has raised questions over functioning of the government and the UPA coalition.
Traders said the mood was further hit after the Reserve Bank Working Group gave recommendations about
prudential guidelines on restructuring of advances by banks and financial institutions.
Keywords: sensex, BSE, stocks close
More In: Markets | Business
Printable v ersion | Aug 1 0, 2 01 2 8:2 2 :3 9 AM | http://www.thehindu.com /business/m arkets/article3 661 968.ece
The Hindu

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7KH+LQGX%XVLQHVV0DUNHWV6HQVH[IDOOVWRVL[ZHHNORZ

Business Markets
Published: July 26, 2012 17:26 IST | Updated: July 26, 2012 17:26 IST

Sensex falls to six-week low


PTI

Dragged by interest-rate sensitive sectors, the Sensex on Thursday fell to a six-week low by dropping over 206 points
amid concerns that RBI may keep interest rates unchanged at its policy review next week and tepid earnings of ITC.
The BSE benchmark index, which had lost 72 points in the previous session, opened marginally higher but shares in
capital goods, PSU, banks, FMCG and IT faced selling pressure throughout the session. The Sensex fell by 206.23
points, or 1.22 per cent to 16,639.82, a level last seen on June 7, 2012.
Led by Tata Motors which fell close to 4 per cent, 22 stocks including Tata Power, Wipro, Sterlite and SBI closed with
losses in the 30-share index.
Shares of ITC, closed 2 per cent down, after its first quarter revenue at Rs. 6,652 crore could not beat expectations.
On similar lines, the 50-share National Stock Exchange index Nifty lost 66.60 points, or 1.30 per cent to 5,043 with
most of the interest-related sectors ending lower.
Fears of rising inflation, driven by possible hikes in fuel and commodity prices have raised fresh concerns that the
Reserve Bank of India might keep rates unchanged on July 31 even as rains continue to be poor, they added.
The BSE Realty sector suffered the most damage today by losing 3.07 per cent with DLF falling 2.85 per cent while
Parsvnath Developers tanked 20 per cent. The capital goods sector fell over 2 per cent with Bhel and L&T dropping
close to 2 per cent each.
Experts also said June quarter earnings have been tepid and that is another reason for FIIs selling stocks for the last
2-3 days. IT majors Infosys, TCS and Wipro fell on concerns the deepening eurozone debt crisis might hurt IT services
demand.
Keywords: BSE, Sensex, stock market, sensex close
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7KH+LQGX%XVLQHVV0DUNHWV6HQVH[GRZQSRLQWVLQHDUO\WUDGH

Business Markets
Published: August 1, 2012 09:51 IST | Updated: August 1, 2012 09:51 IST

Sensex down 36 points in early trade


PTI

The BSE benchmark Sensex declined by nearly 36 points in early trade on Wednesday, snapping three-session rising
streak, as participants booked profits after recent gains amid a weak trend overseas.
The 30-share barometer, which had gained over 598 points in the last three sessions, fell by 35.91 points, or 0.20 per
cent, to 17,200.27.
In a similar fashion, the wide-based National Stock Exchange index Nifty shed 14.95, or 0.28 per cent, to 5,214.05
points.
Brokers said emergence of profit-booking by funds and retail investors after three sessions of gains mainly dampened
the trading sentiment.
Besides, a weak trend on Asian bourses following weak Chinese manufacturing data too had influenced the market.
In Asian region, Hong Kongs Hang Seng fell 0.02 per cent, while Japans Nikkei shed 0.99 per cent in early trade on
Wednesday.
The U.S. Dow Jones Industrial Average ended 0.49 per cent lower in Tuesdays trade as investors looked to the Federal
Reserves two-day monetary policy meeting.
Keywords: Sensex, Nifty, BSE, NSE
More In: Markets | Business
Printable v ersion | Aug 1 0, 2 01 2 8:2 3 :3 2 AM | http://www.thehindu.com /business/m arkets/article3 7 1 07 59 .ece
The Hindu

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7KH+LQGX%XVLQHVV0DUNHWV6HQVH[GRZQE\SRLQWVRQVHOOLQJSUHVVXUH

Business Markets
Published: August 3, 2012 09:50 IST | Updated: August 3, 2012 10:58 IST

Sensex down by 166 points on selling pressure


PTI

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37,

The BSE Sensex on Friday dropped by another 166 points in late morning trade due to persistent selling pressure
from operators, mainly in metal, capital goods, realty, power and auto sectors triggered by weak global cues.
The 30-share index resumed lower at 17,164.48 and dropped further to 17,052,95 before quoting 17,058.63 points at
10.15 a.m., showing a net loss of 165.73 points, or 0.96 per cent, from Thursdays close.
The NSE 50-share Nifty also dropped by 51.25 points, or 0.98 per cent, to 5,176.50 at 10.15 a.m.
Major losers were Tata Steel (2.69 per cent), Sterlite Ind (2.58 per cent), Hindalco Ind (2.35 per cent), Tata Motors
(1.99 per cent), Coal India (1.99 per cent), BHEL (1.91 per cent), Jindal Steel (1.76 per cent) and Larsen (1.75 per cent).
Asian stocks dropped for the third day on Friday after European Central Bank (ECB) president Mario Draghi failed to
deliver immediate action to stem the regions debt crisis.
Key benchmark indices in Hong Kong, Indonesia, Japan, Singapore, South Korea and Taiwan fell by between 0.09 per
cent to 1.25 per cent.
Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock
markets, opening trade
RELAT ED NEWS

Asia stocks drop as ECB vow of action falls flat


More In: Markets | Business
Printable v ersion | Aug 1 0, 2 01 2 8:2 4 :52 AM | http://www.thehindu.com /business/m arkets/article3 7 2 1 1 7 1 .ece
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7KH+LQGX%XVLQHVV0DUNHWV6HQVH[GRZQSRLQWV

Business Markets
Published: August 29, 2012 10:06 IST | Updated: August 29, 2012 17:21 IST

Sensex down 141 points


PTI

The BSE benchmark Sensex fell for the fourth straight day on Wednesday, losing 141 points, as funds sold ahead of the
settlement in this months derivatives contracts and GDP data, amid a weak trend in global equities.
The Sensex, which had lost 219 points in the last three trading sessions, fell further by 140.90 points, or 0.80 per cent
to 17,490.81 led by stocks of realty, metal and auto sectors.
NSE 50-scrip index Nifty dipped below the psychological 5,300 level after August 10 to end with a loss of 46.80
points, or 0.88 per cent to 5,287.80.
Brokers said selling pressure gathered momentum as major market players squared positions ahead of the settlement
in this months derivatives contracts and the first quarter GDP data on Friday.
They said the stock market also turned cautious amid concerns that policymakers have limited room to boost the
weakening economy, amid political logjam on the CAG report on coal block allocations.
Sentiment further dampened on a weakening trend in global markets on deepening eurozone debt crisis and lower
earnings by leading companies.
As many as 21 stocks in the Sensex declined, while HDFC Bank ended unchanged.
Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock
markets, opening trade
More In: Markets | Business
Printable v ersion | Sep 1 7 , 2 01 2 6:2 5:04 AM | http://www.thehindu.com /business/m arkets/article3 83 4 7 7 3 .ece
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7KH+LQGX%XVLQHVV0DUNHWV6HQVH[WXPEOHVSRLQWV

Business Markets
Published: August 31, 2012 16:54 IST | Updated: August 31, 2012 16:54 IST

Sensex tumbles 161 points


PTI

The Sensex on Friday plunged nearly 161 points dragged down by power, metal and oil&gas stocks as better-thanexpected 5.5 per cent growth in first quarter dashed hopes of interest rate cut, amid a weak global trend.
After a slow start, the BSE benchmark index dropped to 17,337.61 soon after the Gross Domestic Product number was
announced. It attempted to stage a comeback and went up to 17557.62 but lost the momentum to close at 17,380.75,
down 160.89 points or 0.92 per cent over yesterday closing value.
Poor showing by the manufacturing sector pulled down the GDP growth to 5.5 per cent in the April-June quarter, the
decades worst Q1 performance, but was a higher than the 5.3 per cent estimate put out by most economists.
Sustained selling in RIL, ITC, TCS and ICICI Bank weighed on the 30-share index where Hindalco, CIL and Bhel were
among the worst performers losing over 2 per cent each.
Brokers said the better-than-expected growth might hamper government efforts to revive the economy and force the
RBI to ease lending rates.
GDP growth in Q1FY13 witnessed a marginal improvement...
Given any credible steps towards fiscal consolidation so far and RBIs prevalent hawkish stance, we do not expect RBI
to cut rates in the September meeting, said Espto Santo Securities Cheif India Economist Deepali Bhargava.
Out of the 13 BSE sectoral indices, 12 ended lower with power, metal, oil&gas, realty and auto losing over one per cent
each.
The 50-share National Stock Exchange index Nifty lost 56.55 points, or 1.06 per cent to close at 5,258.50.
Keywords: Bombay Stock Exchange, GDP
More In: Markets | Business
Printable v ersion | Sep 1 7 , 2 01 2 6:2 5:4 5 AM | http://www.thehindu.com /business/m arkets/article3 84 4 2 2 0.ece
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 7KH+LQGX%XVLQHVV0DUNHWV6HQVH[GURSVSRLQWVWRRQHPRQWKORZ

Business Markets
Published: September 5, 2012 16:44 IST | Updated: September 5, 2012 16:44 IST

Sensex drops 128 points to one-month low


PTI

The Sensex on Wednesday shed 128 points as heavy selling in ICICI Bank, L&T and RIL dragged the index to onemonth low levels, amid an insipid trend in global markets ahead of a crucial ECB meeting on Thursday.
The Bombay Stock Exchange benchmark index, which had gained 56 points on Tuesday, opened weak and traded in
negative terrain for most of the session as metal, capital goods and bank shares were under pressure. The rupee,
which slipped to near 56-levels against the US dollar, also made investors nervous.
A nearly 3.6 per cent drop in ICICI Bank shares and L&T, which lost nearly 3 per cent weighed down the 30-share
Sensex where 21 stocks lost value. RIL, which shed one per cent, also soured the sentiment. The Sensex ended 127.53
points, or 0.73 per cent down at 17,313.34, its lowest closing since August 3.
Metal shares led the decline following the weakening in global commodity prices as demand slows. Jindal Steel &
Power and Hindalco hit 52-week lows. Selling pressure continued in capital goods on concerns of slowdown in the
economy and consequent delay in execution of major power projects, said Nidhi Saraswat, Senior Research Analyst,
Bonanza Portfolio.
The coal block allocation issue also cast its shadow on Parliament for the eleventh day on Wednesday paralysing
proceedings with BJP remaining unrelenting on the demand for resignation of Prime Minister Manmohan Singh.
Brokers said a weak trend in the Asian region and lower opening in Europe ahead of European Central Banks meeting
on Thursday, further influenced the domestic sentiment.
The 50share National Stock Exchange index fell by 48.30 points, or 0.92 per cent to close at 5,225.70.
Among sectoral indices, BSE-Metal suffered the most falling by 2.64 per cent on reports of falling base metal prices on
the London Metal Exchange.
The BSE-Capital Goods sector index logged the second worst performer by losing 2.54 per cent. The BSE-Bankex
declined 1.82 per cent on worries over bad loans and growth prospects amid reports that Morgan Stanley has
downgraded rating on Axis Bank to underweight from equal weight.
Keywords: BSE, Sensex, stock market, stocks close
More In: Markets | Business
Printable v ersion | Sep 1 7 , 2 01 2 6:2 7 :2 1 AM | http://www.thehindu.com /business/m arkets/article3 86 2 2 1 3 .ece
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Business Markets
Published: September 27, 2012 09:55 IST | Updated: September 27, 2012 17:07 IST

Late selling pulls down Sensex


PTI

Reversing its earlier gains, the BSE benchmark index Sensex closed lower by 53 points on fag-end selling in heavyweight stocks, including Infosys and Reliance Industries.
The 30-share BSE barometer, which had climbed to 18,735.95 points in early trade, fell by 52.67 points, or 0.28 per
cent, to settle at 18,579.50 points.
The broad-based Nifty of the National Stock Exchange fell by 13.95 points, or 0.25 per cent to 5,649.50, after
touching the days high of 5,693.70.
Brokers said investors squared up their pending positions following monthly expiry in the derivatives segment.
They said selling pressure was so strong that a better trend in global markets failed to check the falling trend.
Reliance Industries dropped by 1.65 per cent to Rs 830.20 and Infosys by 1.47 per cent to Rs 2,548.70. The two scrips
carry nearly 18 per cent weightage on the benchmark.
IT stocks were down due to concerns over demand outlook from global markets and the recent rally in the rupee.
These companies get over 50 per cent revenue from the US and European markets.
Among 30BSE index components, 19 stocks fell.
Stocks of refinery, information technology and metal sectors suffered heavy losses.
Bucking the general weak trend, stocks of fast moving consumer goods and capital goods ended with gains. ITC rose
by 1.25 per cent to Rs 266.50 and Hindustan Unilever by 1.59 per cent to Rs 536.15.
Keywords: sensex, BSE, NSE, Nifty, closing trade
More In: Markets | Business
Printable v ersion | Sep 3 0, 2 01 2 9:3 1 :2 6 AM | http://www.thehindu.com /business/m arkets/late-selling-pulls-down-sensex/article3 9 4 1 3 88.ece
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Business Markets
Published: October 8, 2012 16:50 IST | Updated: October 8, 2012 16:50 IST

Sensex drops to a 10-day low; RIL, SBI among worst-hit


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37,

The Sensex on Monday fell by over 229 points to close at 18,708.98, its lowest in 10 days, on heavy selling in RIL, SBI
and L&T amid weakness in European stocks ahead of a key meeting to discuss the regions debt crisis.
After opening slightly weaker on weak Asian cues, the BSE benchmark index stayed in the negative zone throughout
the session and touched the days low of 18,684.40.
Dragged down by realty, oil and gas, capital goods and consumer durable shares, Sensex finally closed 229.48 points
or 1.21 per cent lower at 18,708.98. This is the lowest closing for the index since 18,579.50 on September 27.
The 50-share NSE Nifty index ended 70.95 points down or 1.23 per cent at 5,676. Selling pressure in heavyweights
led to fall of over 1 per cent today. Lower opening of European indices as well as weaker US Futures also hit
sentiment, said Nidhi Sarswat, Senior Reseach Analyst, Bonanza Portfolio.
RIL was the worst hit among 30-share Sensex on Monday as it dropped 4.51 per cent. Hindalco (3.52 pc), Bhel (3.44
pc), L&T (3.09 pc), SBI (2.97 pc), Tata Motors (2.87 pc), Tata Power (2.5 pc) and Wipro (2.18 pc). Pharma stocks,
however, bucked the trend.
In BSE, 1,515 stocks fell while nearly 1,383 scrips rose. M-cap fell by Rs 62,000 crore to Rs 65.71 lakh crore.
Globally, European stocks are trading over 1 per cent down on reports that World Bank has cut its East Asian growth
forecast. Sentiments were also weak ahead of Eurozone finance ministers meeting shortly to discuss the regions debt
crisis.
Meanwhile, the rupee slumped over 1 per cent to 52.51 against the US dollar in afternoon trade.
Keywords: BSE, NSE, Sensex, Nifty, Reliance Industries, State Bank of India
More In: Markets | Business
Printable v ersion | Oct 9, 2 01 2 8:2 2 :3 2 AM | http://www.thehindu.com /business/m arkets/sensex-drops-to-a-1 0day -low-ril-sbi-am ong-worsthit/article3 9 7 7 87 5.ece
The Hindu

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Business Markets
Published: October 10, 2012 16:47 IST | Updated: October 10, 2012 16:47 IST

Sensex tumbles by 162 points


PTI

The Sensex today tumbled by 162 points to close at 18,631.10 on across-the-board selling due to Standard & Poors
warning of a one-in-three chance of Indias rating being downgraded in two years.
The S&P downgrade threat, which came a day after the IMF slashed the countrys growth forecasts for 2012 to 4.9 per
cent, dampening the sentiment further.
After resuming over 100 points lower, the BSE benchmark index failed to stage a recovery amid fresh concerns over
the sluggish global economic growth and Eurozone debt crisis.
The rupee also wilted under pressure and fell below the 53-mark against the US dollar in early trade.
With 27 stocks of the 30-share Sensex ending lower, the Sensex closed near days lows at 18,631.10, down 162.26
points or 0.86 per cent. Likewise, NSE Nifty fell below 5,700 level by losing 52.45 points, or 0.92 per cent, to 5,652.15.
Traders said investors hurriedly cut positions as S&Ps warning of a downgrade comes a day after IMF cited low
business confidence and sluggish structural reforms for lowering its growth forecast for India.
SBI, which dropped 2.32 per cent, was the biggest loser among Sensex. It was followed by Tata Power, Hindalco,
BHEL, NTPC and M&M. Wipro fell by 1.72 per cent while Infosys fell 1.3 per cent ahead of September quarter results
on Friday.
Private lenders HDFC Bank and ICICI Bank dropped around one per cent each. However, ITC, RIL and Hero
MotoCorp bucked the negative trend.
Barring FMCG index, the other 12 sectoral benchmarks today fell. Realty shares were hit hard after DLF tanked 5 per
cent.
Overall, just 978 stocks today advanced while 1,929 scrips declined as market breadth was significantly negative.
Dealers said a weakening trend in the Asian region and lower opening in Europe also hit the domestic market trading.
Keywords: Sensex, Bombay Stock Exchange, BSE, Nifty, National Stock Exchange, NSE, Indian stock markets, closing
trade
More In: Markets | Business
Printable v ersion | Oct 1 1 , 2 01 2 5:58:3 8 AM | http://www.thehindu.com /business/m arkets/sensex-tum bles-by -1 6 2 -points/article3 9 84 555.ece
The Hindu

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