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US stock market daily report (April 17, 2014, Thursday)

April 17, 2014, Thursday
Intel Corporation (INTC-Nasdaq) emerging area they are delving aggressively into, Internet of Things (IoT) Solutions Group, which would allow nearly every device or appliance to be connected to the Internet, is slow to bloom. Chief Executive Brian Krzanich keyed in on Internet of Things for potential growth, at the Consumer Electronics Show earlier in 2014. Internet of Things is the new reality driven by the convergence of increasingly connected devices, cloud economics for computing and data, and the acceleration of big data analytics. Intel is focused on accelerating the development and deployment of intelligent devices, as it markets IoT which creates systems of systems by connecting legacy devices to the cloud and enabling end-to-end analytics to transform business. In summary, IoT will enable Internet-enabled devices to network and communicate with each other and the cloud.

US stock market, economy and companies update (April 17, 2014)

April 17, 2014, Thursday
US trading volumes are elevated this morning on options expiration, although all and all things are pretty calm following the drama seen earlier this week. Ukraine continues to be worrisome, and diplomats from Russia, the US, Ukraine and the EU are said to be close to some sort of "solution" in Vienna talks. As of writing, the DJIA is down 0.07%, the S&P500 is up 0.11% and the Nasdaq is up 0.22%.

Indian stock market daily morning report (April 17, 2014, Thursday)

April 17, 2014, Thursday
The markets lost their way in the post-noon session due to caution surrounding FII outflows and higher-than-expected inflation data released on Tuesday. Muted Q4 growth expectations from TCS, further dampened sentiments. The Sensex ended at 22,277, weaker by 207 points and the Nifty ended at 6675, down 5- points. There was also pain in the hitherto-outperforming broader markets, with the midcap index ending at 7232, down 79 points and the smallcap index shutting shop at 7418, down 83 points.

Indian stock market and companies daily report (April 17, 2014, Thursday)

April 17, 2014, Thursday
The Indian Markets are expected to open flat today with a positive bias tracking SGX Nifty which is trading higher by 0.2%. Most of the Asian markets are trading in the positive territory. US markets rose higher on Wednesday reacting positively to the latest earnings news as well as remarks by Federal Reserve (Fed) Chairman Janet Yellen that the central bank will keep benchmark interest rates at exceptionally low levels for a considerable time. Yellen acknowledged that economic growth slowed over the winter but suggested that a significant part of the weakness was due to unusually cold winter.

US stock market daily report (April 16, 2014, Wednesday)

April 16, 2014, Wednesday
The 2014 New York International Auto Show kicks off at the Jacob Javits Center on Manhattan’s West Side on April 16 and runs through April 17. This years exhibition will include concept cars, remakes, supercars and of course, World Car Award winners. The Big Apple will be host to over thirty vehicles debuted at the New York Auto Show. A few of the honorable mentions are highlighted. Ford is celebrating the Mustang's 50th anniversary by perching a 2015 Ford Mustang atop the Empire State Building, on the 86th floor on the observation deck - just as Ford did, 50 years ago. Because the building is too narrow, a helicopter is not an option and super cranes can only go up 50 stories, the elevator will be used to transport the Mustang. Problem is, elevators in the building were built in 1931, a modern car won't fit.

US stock market, economy and companies update (April 16, 2014)

April 16, 2014, Wednesday
Asia, Europe and US equity markets made gains after China managed to meet y/y Q1 GDP growth expectations. The positive tone has been supported in the US session by some decent industrial production data, while the Nasdaq has bene propped up by Yahoo's earnings gains. As of writing, the DJIA is up 0.59%, the S&P500 is up 0.35% and the Nasdaq is up 0.50%.

Indian stock market daily morning report (April 16, 2014, Wednesday)

April 16, 2014, Wednesday
Markets ended lower on Tuesday, weighed down by financial shares, as the spike in whole-sale-price inflation to 3-month highs in March could lead to a delay in policy rate cuts by the central bank in the near to medium term. The wholesale price index-based inflation rose to a three-month high of 5.70% in March from a nine-month low of 4.68% in February. Further, market sentiment were dampened after foreign investors turned net sellers on Friday.

Indian stock market and companies daily report (April 16, 2014, Wednesday)

April 16, 2014, Wednesday
The Indian Markets are expected to open flat today tracking SGX Nifty which is trading flat in the early trade. Most of the Asian markets are trading in the positive territory. US markets closed higher on Tuesday reacting to mixed batch of data on the economic and corporate earnings front. The markets reacted positively to earnings of companies like Coca Cola and Johnson and Johnson. However, some negative sentiment was generated by disappointing economic data, including a report from the National Association of Home Builders showing that homebuilder confidence has improved by less than expected in April.

US stock market daily report (April 15, 2014, Tuesday)

April 15, 2014, Tuesday
The "Revenue Act" was signed on April 15, 1861 by President Abraham Lincoln, imposing the first federal income tax of 3% on annual income exceeding $800. The move was an effort to fund the Civil War which received the stamp of approval from Congress. Language of the Act was broadly written to define income as a gain "derived from any kind of property, from any professional trade, employment or vocation carried on in the United States or elsewhere or from any source whatever." Per the U.S. Treasury Department in 2003, the $800 income from 1861 compared to approximately $16,000 minimum taxable income after adjustments for inflation.

US stock market, economy and companies update (April 15, 2014)

April 15, 2014, Tuesday
European markets have fallen sharply from their highs of the session to their lows since the open of US cash trading, while the S&P500 peaked early and is also back around unchanged. Nervousness about Ukraine is being cited for the volatile trading. As of writing, the DJIA is down 0.09%, the S&P500 is up 0.05% and the Nasdaq is down 0.72%.

Indian stock market daily morning report (April 15, 2014, Tuesday)

April 15, 2014, Tuesday
Benchmark share indices ended lower, amid weak global cues, as traders booked profits ahead of the truncated week and February IIP data due for release later. Meanwhile, markets came off their day's lows in late trades following a rebound in IT shares ahead of fourth quarter earnings from Infosys early next week. The 30-share Sensex ended down -6 points at 22,629 and the 50-share Nifty closed 20 points lower at 6,776.

Indian stock market and companies daily report (April 15, 2014, Tuesday)

April 15, 2014, Tuesday
The Indian Markets are expected to open higher today tracking a positive opening in SGX Nifty which is trading higher by 0.4%. Most of the Asian markets too are trading in the green. US markets which fluctuated during the later part of the trade closed notably higher on Monday. The market gained strength due to the release of a report from the Commerce Department showing that retail sales rose by more than expected in the month of March. The report showed that retail sales jumped by 1.1% in March after increasing by an upwardly revised 0.7% in February.

US stock market daily report (April 14, 2014, Monday)

April 14, 2014, Monday
Google Inc. (GOOG-Nasdaq), in attempts to ramp up wireless Internet access to remote areas of the world, announced the purchase Monday of a startup maker of high-altitude solar-powered drones Titan Aerospace. In an email statement from the search engine giant, Google said, "Atmospheric satellites could help bring internet access to millions of people, and help solve other problems, including disaster relief and environmental damage like deforestation." Google spokesman said in a statement, "It is still early days, but atmospheric satellites could help bring Internet access to millions of people, and help solve other problems, including disaster relief and environmental damage like deforestation."

US stock market, economy and companies update (April 14, 2014)

April 14, 2014, Monday
European equities sank lower ahead of the US session as things heated up in Eastern Ukraine, however they are back to unchanged as of writing. US stocks have moved higher in the wake of decent Citigroup numbers and very good retail sales data, although volume is low and the VIX remains elevated. As of writing, the DJIA is up 0.80%, the S&P500 is up 0.70% and the Nasdaq is up 1.19%.

US stock market daily report (April 11, 2014, Friday)

April 14, 2014, Monday
Investors may not be getting the best prices for their trades because of "dark pools', per the U.S. Securities and Exchange Commission. Due to the amount of trading done via dark pools, publicly quoted prices for stocks on exchanges may no longer properly reflect where the market is. Proposed reform from U.S. securities regulators involved in policy making includes testing that could drive business to major stock exchanges and away from alternative trading venues such as "dark pools". The proposed reform could limit how much trading occurs inside brokerages as well as in "dark pools". Concerns are heightened by some regulators and academics about the increasing level of trading that occurs outside of exchanges.

US stock market, economy and companies update (April 11, 2014)

April 11, 2014, Friday
US equities zigzagged through the first hour and a half of cash trading in negative territory. The benchmark 10-year yield dropped briefly below 2.620% before easing a bit, while the dollar has checked its declines. The VIX is back around 16. As of writing, the DJIA and S&P500 are down 0.25% a piece, while the Nasdaq is flat on the day. Both the euro and the yen have strengthened all week long despite the weakness in equities, spurring comments from analysts that the risk off/strong dollar correlation seems to be breaking down.

Indian stock market daily morning report (April 11, 2014, Friday)

April 11, 2014, Friday
Key indices shed early gains in the last half hour of trade to close flat, a day after touching their all-time closing high levels. The 30-share BSE Sensex closed 56 points lower at 22,715, while the 50-stock NSE Nifty closed flat at 6,796 levels. MAN Industries (India) galloped 14.6-%, in the opening trade, to Rs 74.60 on BSE after the company said that it has built up order book, which includes the recently received orders from domestic and international customers.

Indian stock market and companies daily report (April 11, 2014, Friday)

April 11, 2014, Friday
Indian markets are expected to open in red tracking negative opening trades in SGX Nifty and most of the Asian markets. After moving notably higher over the two previous sessions, stocks showed a substantial move back to the downside during trading on Thursday. Technology stocks helped to lead the sell-off, contributing to a particularly sharp drop by the tech-heavy Nasdaq. The sell-off on Wall Street was partly due to profit taking following the rally seen late in the previous session, which reflected easing concerns about the outlook for interest rates.

US stock market daily report (April 10, 2014, Thursday)

April 10, 2014, Thursday
General Motors Company (GM-NYSE) announced on Thursday that two engineers have been put on paid leave as an interim step toward getting to the bottom of the slow fix of the ignition switch problem linked to at least 13 deaths. The investigation by U.S. lawmakers are zoning in on engineers as well as others involved including knowledge of senior executives, in the slow recall of nearly 2.6 million cars. Investigation by Congress include emails from John Hendler, an involved engineer and Lori Queen, a GM executive responsible for small car development, discussing costs of redesigning the switch. Other documents from GM under review by the House committee include the change of the switch in 2006.

US stock market, economy and companies update (April 10, 2014)

April 10, 2014, Thursday
There was choppy equity market trading through the overnight hours in Europe and in the US premarket. However stocks are sliding lower after an hour and a half of cash trading as the benchmark yield creeps lower and the dollar weakens. Brutal selloffs among the big and small tech momentum names are hammering the Nasdaq. As of writing, the DJIA is down 0.38%, the S&P500 is down 0.41% and the Nasdaq is down 1.48%.

Indian stock market daily morning report (April 10, 2014, Thursday)

April 10, 2014, Thursday
The key benchmark indices ended at record closing highs, bolstered by strength on the banking counters. The Sensex gained 35- points or 1.6% at 22,702 points and the 50-share Nifty hit an intra-day high of 6,80- before closing 101 points higher at 6,796. The Bank Nifty jumped by a whopping 3.45% at 12,937 points. Metal, auto, oil and gas index hits 52-week highs.

Indian stock market and companies daily report (April 10, 2014, Thursday)

April 10, 2014, Thursday
Indian markets are expected to open flat with a negative bias tracking negative opening trades in SGX Nifty and flat opening in most of the Asian markets. After moving moderately higher in morning trading on Wednesday, US stocks accelerated to the upside following the release of the minutes of the latest Federal Reserve meeting. The markets extended the upward move seen in the previous session, further offsetting the recent pullback. The Dow jumped 1.1% to 16,437, the Nasdaq gained 1.7% to 4,184 and the S&P 500 soared up 1.1% to 1,872.

US stock market daily report (April 09, 2014, Wednesday)

April 9, 2014, Wednesday
Heartbleed bug was announced yesterday as a serious security flaw in OpenSSL which may have impacted all Internet users over the past two years. The really bad news is there is no quick fix that can be easily and quickly applied to resolve the flaw. Since servers maintain a great deal of information in their active memory including usernames, passwords and even credit card numbers, hackers are able to steal encryptions keys to access previously considered secure information. By stealing encryption keys, hackers can intercept encrypted data moving to and from a site's servers and read it without establishing a secure connection.

US stock market, economy and companies update (April 09, 2014)

April 9, 2014, Wednesday
Yesterday saw the S&P500 move higher after briefly trading below its 50-day moving average around 1,840. Most global equity indices also bounced higher in Asia and European trading, although US indices have been choppy in the early going today. As of writing, the DJIA is up 0.18%, the S&P500 is up 0.30% and the Nasdaq is up 0.51%. The minutes from the March FOMC meeting are a main focal point today. Note that analysts are eager to hear more color on the FOMC statement that the pace of rate hikes after the initial tightening would likely be more gradual than in the past.

Indian stock market daily morning report (April 09, 2014, Wednesday)

April 9, 2014, Wednesday
Markets ended flat amid a volatile trading session on Monday after elections for the 16th Lok Sabha kicked off today. Meanwhile, Sun Pharma and Ranbaxy Labs hogged the limelight after Sun Pharma announced the acquisition of Ranbaxy Labs. The 30-share Sensex ended down 16 points at 22,343 after hitting an intra-day high/low of 22,4-2/22,197 and the 50-share Nifty ended flat at 6,695 after touching an intra-day high/low of 6,725/6,650.

Indian stock market and companies daily report (April 09, 2014, Wednesday)

April 9, 2014, Wednesday
Indian markets are expected to open in green tracking positive opening trades in SGX Nifty and flat opening in most of the Asian markets. In spite of subdued buying interest was somewhat subdued, US stocks moved mostly higher over the course of the trading day on Tuesday. While the major averages all closed in positive territory, the Nasdaq outperformed its counterparts. The Nasdaq advanced 0.8% to 4,113, while the Dow edged up 0.1% to 16,256 and the S&P 500 rose 0.4% to 1,852. Bargain hunting likely contributed to the strength on Wall Street, with traders picking up stocks at reduced levels following the recent pullback.

US stock market daily report (April 08, 2014, Tuesday)

April 8, 2014, Tuesday
Takeda Pharmaceutical Co. Ltd, Japan's largest drugmaker, has been charged by a U.S. federal jury in front of a packed Lafayette, Louisiana courtroom, for concealing cancer risks associated with its diabetes drug, Actos (pioglitazone). Actos is an oral diabetes medication that helps control blood sugar levels in adults with type 2 diabetes. As a result, the jury imposed $6 billion in punitive damages against Takeda. Punitive damages are meant to discourage other companies from similar bad conduct. Takeda's co-defendant in the case and co-promoter of Actos from 1999 to 2006, Eli Lilly and Company (LLY-NYSE), was ordered by the jury to pay $3 billion in punitive damages. In a press release, Lilly not only said they plan to challenge the ruling but also that they will be indemnified by Takeda for its losses and expenses around the litigation based on the terms of its agreement with the Japanese pharmaceutical.

US stock market, economy and companies update (April 08, 2014)

April 8, 2014, Tuesday
The correction continued overnight in Japanese and European markets, and US equities dipped lower in the first hour of trade this morning. Along with the slide in equities, the VIX volatility index has picked up, touching 16 yesterday and briefly trading above 16 today. Note that both the Hong Kong and Shanghai markets beat against the prevailing headwinds on continued government stimulus chatter. As of writing, US indices have bounced higher off their lows, with the DJIA up 0.20%, the S&P500 up 0.11% and the Nasdaq up 0.78%.

US stock market daily report (April 07, 2014, Monday)

April 7, 2014, Monday
College campuses have reported an increase in outbreaks of Meningitis, specifically the strain known as “serogroup B” or “MenB”. During 2012 in the United States, according to the Centers for Disease Control and Prevention (CDC), 160 of the 500 cases of meningococcal disease were caused by MenB. The MenB strain, although uncommon in the USA, can be very serious and potentially deadly. To address this critical public health concern, the Food and Drug Administration has been working closely with CDC in order for CDC to make an unapproved MenB vaccine available as quickly as possible to universities where CDC determined outbreaks had occurred.

US stock market, economy and companies update (April 07, 2014)

April 7, 2014, Monday
The big moves lower seen in US equity trading continued in Asia and European trading on Monday with few exceptions. This morning the three leading US indices are in the red, while the Russell 2000 down over 1% at its lows after falling below its 100-day moving average. Yield on the benchmark 10-year UST has come in a bit, -2.70 basis points. As of writing, the DJIA is down 0.65%, the S&P500 isd down 0.52% and the Nasdaq is down 0.69%.

Indian stock market daily morning report (April 07, 2014, Monday)

April 7, 2014, Monday
Markets edged lower on the last trading day of the week as investors took profit in most blue-chip stocks after nine consecutive days of record highs. This cautious move came ahead of the key US jobs data later in the day. Also, market participants were reluctant to hold on to their positions, ahead of general elections scheduled to start next week. Losses in heavyweights like RIL, TCS, HDFC and L&T dragged the Nifty below the 6,700 levels to end the week down 42 points at 6,694. The Sensex gave off 150 points to close at 22,360.

Indian stock market and companies daily report (April 07, 2014, Monday)

April 7, 2014, Monday
Indian markets are expected to open flat tracking flat opening trades in SGX Nifty and most of the Asian markets. After initial upward move, following the release of the Labor Department's closely watched monthly jobs report, stocks moved notably lower over the course of the trading day on Friday due to weakness in technology stocks. The monthly jobs report indicated increase in employment, albeit slightly less than expected in the month of March. The report also showed upward revisions to the job growth in the two previous months.

US stock market daily report (April 04, 2014, Friday)

April 4, 2014, Friday
The Food and Drug Administration has approved the first naloxone prescription product - Evzio - for the treatment of possible overdose of opioids, to be administered by anyone. Opioids include legal prescription drugs to treat pain such as OxyContin (oxycodone) and Vicodin (hydrocodone with acetaminophen) as well as illegal street drugs such as heroin. Opioids can cause a rapid and fatal overdose, if not acted on immediately. Previously, naloxone could only be administered for opioid overdoses by emergency health care professionals or those with special health care training.

US stock market, economy and companies update (April 04, 2014)

April 4, 2014, Friday
The March jobs report was a mixed bag of contrasting signals, although it did show private sector jobs have returned to their January 2008 peak. Trading has been very choppy post report, with fresh record highs seen for the DJIA and the S&P 500, even as the benchmark yield came in six basis points. Meanwhile, momentum tech stocks are suffering and dragging the Nasdaq deeper into the red after yesterday's terrible performance. As of writing, the DJIA and S&P are off their highs, up 0.10% and 0.26%, respectively, while the Nasdaq is down 1.11%.

Indian stock market daily morning report (April 04, 2014, Friday)

April 4, 2014, Friday
Market snapped its 10-day winning streak as investors booked profits at higher levels in heavyweight oil & gas and banking stocks. Benchmark stock indices came under selling pressure in morning deals after HSBC Purchasing Managers' Index data showed that economy's largest sector -- services -continued to contract in the month of March. However, a recovery was made in the hour of trade led by buying in banking, metals and realty stocks.

Indian stock market and companies daily report (April 04, 2014, Friday)

April 4, 2014, Friday
Indian markets are expected to open in the red following weak start to SGX Nifty. Asian indices too are trading cautiously ahead of the release of the US jobs data scheduled today. US stocks gave back some ground on Thursday as market participants resorted to profit booking. The major averages closed in the red as traders also seemed to be looking for safer bets ahead of the release of the Labor Department's closely watched monthly jobs report on Friday. Meanwhile, according to a Labor Department report, initial jobless claims climbed to 326,000 in the week ended March 29 as against economist expectations of 320,000.

US stock market daily report (April 03, 2014, Thursday)

April 3, 2014, Thursday
Founders of SXP Analytics LLC are accused of stealing the algorithms of a powerful Houston high-frequency-trading company, Quantlab Financial LLC, who maintains a low profile. Headquarters for Quantlab is located on one floor of a redbrick building located in Houston's low-rise Montrose neighborhood, known more for mansions and museums. The firms name appears in small text on a board near the elevators, sandwiched between a law firm and a life coach. Tim McInturf, general counsel for Quantlab says the defendants "engaged in a massive, surreptitious and systematic theft of the company's intellectual property." Allegations by Quantlab include that during 2007 when they dismissed two Ukrainian PhD researchers, the pair took with them, algorithms and other code to use at SXP.

US stock market, economy and companies update (April 03, 2014)

April 3, 2014, Thursday
The DJIA briefly rose to fresh intraday all-time highs above 16,588 in the early going this morning, however equities were never particularly strong and have dipped right into the red mid morning. As of writing, the DJIA is -0.07, the S&P500 is down 0.13% and the Nasdaq is down 0.36%. Foolish hopes for ECB action were dashed this morning, as the governing council left rates unchanged and ECB President Draghi stayed pretty close to all of his regular talking points regarding inflation and scope for more action.

Indian stock market daily morning report (April 03, 2014, Thursday)

April 3, 2014, Thursday
Benchmark indices regained lost ground in closing deals after trimming initial gains during the day. Both Sensex and Nifty touched record intra-day highs levels on back of foreign fund inflows. It was the tenth session of consecutive gains as investors lapped up heavyweight oil & gas and auto stocks among others. The 30-share BSE Sensex closed 105 points higher at 22,551 levels and the 50-unit Nifty was up 32 points at 6,752.

Indian stock market and companies daily report (April 03, 2014, Thursday)

April 3, 2014, Thursday
Indian markets are expected to open in the green tracking positive start to SGX Nifty and most of the Asian indices. US stocks showed lack of direction throughout the trading day on Wednesday but managed to close modestly higher. The modest strength on Wall Street came following the release of some relatively upbeat economic data, including ADP's report on private sector employment. According to the ADP report, private sector employment increased by 191,000 jobs in March following an upwardly revised increase of 178,000 jobs in February.