Indian stock market daily morning report (January 27, 2012, Friday)

Indian markets edged higher for the second straight day on Wednesday to their highest close in more than two months, powered by gains in IT bellwether Infosys and automaker Tata Motors, as investors resorted to selective buying amid settlement of monthly derivatives contracts. Data showing resumption of buying by foreign funds also boosted investor sentiment. Indian markets have gained ~10% so far in January, with foreign funds buying shares worth more than $1 billion.

US stock market daily report (January 26, 2012, Thursday)

U.S. Labor Department reported new applications for unemployment benefits rose sharply last week, but initials claims remain at a level usually associated with a modest improvement in U.S. hiring trends. U.S. jobless claims climbed by 21,000 to a seasonally adjusted 377,000 in the week ended January 21 and jobless claims from two weeks ago were revised up by 4,000. The number of jobless claims frequently gyrate during January despite government efforts to adjust for seasonal factors owing to the end of temporary jobs created during the holiday season. For the first week of January, jobless claims totaled 402,000 and sank to 356,000 two weeks ago before bouncing back up again last week with the average of four-week claims fell slightly, down 2,500 to 377,500. The monthly average jobless claims has shown little change over the past six weeks, but recent levels suggest a declining number of layoffs in broader economy. The current pace of hiring, approximately 150,000 jobs a month, is barely able to absorb the natural increase in the nation’s labor force. U.S. jobless claims generally reflect how many people lose their jobs which means that the U.S. should be able to add jobs at a faster clip even if companies hire at a rate no faster than last year. However, this number falls well short of what’s needed to put millions of Americans back to work and drive down unemployment.

US stock market daily report (January 25, 2012, Wednesday)

Federal Open Market Committee text released today: “Information received since the Federal Open Market Committee met in December suggests that the economy has been expanding moderately, notwithstanding some slowing in global growth. While indicators point to some further improvement in overall labor market conditions, the unemployment rate remains elevated. Household spending has continued to advance, but growth in business fixed investment has slowed, and the housing sector remains depressed. Inflation has been subdued in recent months, and longer-term inflation expectations have remained stable. Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects economic growth over coming quarters to be modest and consequently anticipates that the unemployment rate will decline only gradually toward levels that the Committee judges to be consistent with its dual mandate. Strains in global financial markets continue to pose significant downside risks to the economic outlook. The Committee also anticipates that over coming quarters, inflation will run at levels at or below those consistent with the Committee’s dual mandate. To support a stronger economic recovery and to help ensure that inflation, over time, is at levels consistent with the dual mandate, the Committee expects to maintain a highly accommodative stance for monetary policy. In particular, the Committee decided today to keep the target range for the federal funds rate at 0 to 0.25% and currently anticipates that economic conditions--including low rates of resource utilization and a subdued outlook for inflation over the medium run--are likely to warrant exceptionally low levels for the federal funds rate at least through late 2014.

US stock market, economy and companies update (January 27, 2012)

The DJIA and S&P500 are in the red this morning following the GDP data out this morning. US GDP grew 2.8% in Q4, a sharp acceleration from the 1.8% in Q3 and the quickest pace since the second quarter of 2010, although this rate was still less than expected. Inventory builds helped sustain growth, although lower Federal expenditures held back the measure. In Europe, no deal has emerged between Greece and its private creditors, only increasing the skittishness of investors. Both EU Commissioner Rehn and the Greek government insisted a deal is very close, however this is the same line that has been reiterated all week long. Treasury markets are flat on day consolidating the move high since the release of the FOMC statement. The US 10-year yield remains below 1.95%.

Russian stock market daily evening report (January 27, 2012, Friday)

The last trade day of the week brought slight reduction to market due to correction at global markets. The weak stats that came out worsened the drop. But that, the day was calm, with not high volatility. We assume the market might show slight reduction within correction versus growth, indicated thought January.

Indian stock market daily closing report (January 27, 2012)

Indian markets ended the week with gains for the fourth consecutive time. The market gained around 12% in last four weeks on account of fresh buying by FII’s due to improved global economic scenario. The markets ended up around 1% in today’s trading session led by RIL & Tata Motors. The Nifty ended up 46.4 points today, to close at 5204.7. The Sensex ended up 156.8 points, at 17,233.98. The breadth of the market was positive in  today’s trade and the total volumes were at Rs 86491 cr.

European stock market, economy and companies update (January 27, 2012)

European equity indices opened the session lower, but have since pared losses on renewed hopes that a Greek debt agreement might be reached in the next few days. European banks are currently trading mixed, with French banks underperforming. Greek banks have risen by over 10%, amid the ongoing talks between Greece's government and its private sector creditors. Additionally, a Greek press report said that the Troika officials were said to have lowered their capital demands for Greek banks.

Asian stock market, economy and companies update (January 27, 2012)

Markets were mixed and cautious in the final trading day of the week, US jobless benefit claims rose last week while durable goods beat estimates in December. Markets are also waiting for the release of Q4 GDP from the US. A drop in USD/JPY tested ¥76.90; yen crosses sold into the Tokyo fix but regained back towards US session levels. This strength weighed on exporting names and could trigger repatriation. Japan PM Noda tried to verbally deter the strength calling for "bold" action to stem the yen rise. Commodities futures were all lower, silver and copper both falling 0.7%, wheat lost 1% while corn shed $2.20.

Indian stock market and companies daily report (January 27, 2012, Friday)

The markets are expected to open sideways tracking mixed cues from the Asian markets and as investors would be waiting for the outcome of crucial Greek debt talks. US shares ended on a weak note on Thursday following some mixed economic data, with new home sales notably weak. Profit taking following recent strength also contributed to the downturn by the markets. The data came one day after the US Federal Reserve indicated that it would keep rates in the US at ultra-low levels until late 2014. European market closed to the upside on Thursday.