Economic growth in US is expected to continue in the year 2012 according to the semiannual forecast by Institute of Supply Management. The forecast projects optimism about the U.S. economy for 2012. The manufacturing sector, overall, is positive about prospects in 2012 with revenues expected to increase in 17 industries, while the non-manufacturing sector appears slightly less positive about the year ahead, with 15 industries expecting higher revenues.
The respondents were optimistic that the revenues for 2011 will be greater than 2012. The executives expected that the total increase will be 5.5% in 2012 over 2011. Non manufacturing revenues in US currently expect a 3.1% net increase in overall revenues for 2012 compared to a 1.5% increase reported for 2011 over 2010 revenues. The total revenues were expected to increase in 17 industries in manufacturing sector while revenues were expected to increase in 15 industries in non manufacturing sector.
The mcx tips Cardamom for the December delivery ended the last session down by 1.20% at Rs 600.80 per 1 kg and the open interest added 3.39% to 4,746 lots. Volume traded dipped to 2,551 tonnes from 3,314 tonnes. Higher arrivals are expected to witness at today's auction sales at CPMC. The weak demand and higher arrivals are likely to pull down the prices further. Technically, the December contract has next support at Rs 596.10, Rs 587.70 while resistance at Rs 608.10, Rs 612 per 1 kg.
Overall movement in the financial markets was cautious today as traders focused on the European leader's summit this week to discuss proposals for more stringent fiscal regulations and treaty changes.
Asian stock markets were higher on Wednesday, meanwhile, following a newspaper report that the EU may bolster the firepower of its rescue funding. EU officials were discussions on the possibility of allowing the euro zone's 440 billion euro ($590 billion) bailout fund to remain in operation when a new 500 billion facility comes into force in 2012, the Financial Times reported.
Leaders from the European Union countries are due to meet Friday in Brussels to discuss plans for tighter fiscal regulations and treaty changes.
Light, sweet crude-oil futures for January delivery inched up 16 cents to $101.46 per barrel on New York Mercantile Exchange. The European news flow turned negative on Tuesday, dampening sentiment across equity and commodity markets. Investors held hope, however, that the Dec. 9 euro-zone summit would bring better news for the bloc.
Also supporting crude-oil prices, Asian stocks and U.S. index futures were trading higher. While benchmark stock indexes in Japan, South Korea, Hong Kong and Australia were up between 0.8% and 1% by midday.
MCX benchmark crude futures may open today's session above Rs 5190 levels with resistance near Rs 5220 levels and support near Rs 5170 levels.
Overall movement in the financial markets was cautious today as traders focused on the European leader's summit this week to discuss proposals for more stringent fiscal regulations and treaty changes.
Asian stock markets were higher on Wednesday, meanwhile, following a newspaper report that the EU may bolster the firepower of its rescue funding. EU officials were discussions on the possibility of allowing the euro zone's 440 billion euro ($590 billion) bailout fund to remain in operation when a new 500 billion facility comes into force in 2012, the Financial Times reported.
Leaders from the European Union countries are due to meet Friday in Brussels to discuss plans for tighter fiscal regulations and treaty changes.
Light, sweet crude-oil futures for January delivery inched up 16 cents to $101.46 per barrel on New York Mercantile Exchange. The European news flow turned negative on Tuesday, dampening sentiment across equity and commodity markets. Investors held hope, however, that the Dec. 9 euro-zone summit would bring better news for the bloc.
Also supporting crude-oil prices, Asian stocks and U.S. index futures were trading higher. While benchmark stock indexes in Japan, South Korea, Hong Kong and Australia were up between 0.8% and 1% by midday.
mcx tips free trial took benchmark crude futures may open today's session above Rs 5190 levels with resistance near Rs 5220 levels and support near Rs 5170 levels.
Base metals ended mostly lower on Tuesday, 6th December as most of the investors traded in sidelines amidst the Standard & Poor's Ratings Services warning that it may downgrade the ratings of 15 euro-zone nations, including Germany and France citing the worsening European debt crisis situation and the regions nation's approval to tougher fiscal rules at summit on Dec 9th.
Comex Copper future for most active March contract settled at $3.5755 a pound, down 1.11% (4 cents). Benchmark Copper at LME ended lower at $7795 per tonne, down 1.02% ($80). Likewise at commodity tips , Copper for delivery in February slumped by 0.84% or Rs 3.45 at Rs 408.4 per kg with its high at Rs 410.9 per kg and low at Rs 405.05 per kg.
Most of the metals traded in the negative territory as investors could not digest the Standard & Poor's moves to put France, Germany and 13 other euro-zone nations on review for credit downgrades. S&P also placed the long-term credit rating of the European Financial Stability Facility on credit watch negative.
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