The S&P 500 Index futures(ES-M1) are trading higher by 3.00 points to 1308.25 per contract. The move higher in the futures comes as gross domestic product(GDP) in the United States for the fourth quarter was reported at 3.1 percent beating analyst expectations of an earlier estimate of 2.8 percent. In any case, this is a Friday and rarely do the markets sell off on Friday's before the weekend.
The S&P 500 e-mini futures are soaring higher this morning by 15.00 points to 1289.25 per contract as the nuclear reactor situation in Japan seems to be improving. The Asian markets rallied higher overnight with the Hang Seng(Hong Kong) trading higher by 2.72 percent. The highly followed Shanghai Index(China) was higher by just 0.08 percent.
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This morning, the highly followed Consumer Price Index(CPI) was released by the Labor Department. The CPI increased by 0.4 percent in January. The Core CPI, which excludes food and energy increased by just 0.2 percent. Weekly U.S. jobless claims increased by 25,000 to 410,000. The one month weekly jobless claims average is now 417,000.
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AsiaInfo-Linkage, Inc. (Nasdaq:ASIA) ("AsiaInfo-Linkage" and the "Company"), a leading provider of telecommunications software solutions and related services, announced that its Board of Directors has authorized a new stock repurchase program, under which AsiaInfo-Linkage may repurchase up to US$60.0 million in aggregate value of the outstanding common stock of the Company.
Ever since the Asian nations began to raise interest rates most leading commodity stocks and ETF's have come under severe pressure. Last night India raised their key interest rate by another 25 basis points in effort to curb the high inflation that the country is facing. China has been raising bank reserves and also raised interest rates by 25 basis points last month.
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China Faces Corn Shortages, Global Food Crisis Grows
September 3, 2010 - www.InvestorIdeas.com, a leader in sector research tools for investor’s reports on agriculture stocks news and trading as the global food crisis grows.
Climate change, droughts, floods, water management issues, rising populations have resulted in food prices rising globally and the industry is calling for solutions.
ADB Launches $9 Billion Plan for Solar Energy in Asia
The Asian Development Bank launched a $9 billion solar power initiative to develop projects generating 3,000 megawatts by 2012.
The announcement, which came at the regional lending agency’s annual meeting in Tashkent, Uzbekistan, said that Central Asian countries would be prime candidates for siting the projects.
U.S. equity markets are expected to open better this morning due to a pick-up in demand for higher yielding assets. Investors are also feeling more confident in the long side following last Friday’s better than expected Non-Farm Payrolls Report. The lack of fresh major economic news until at least Thursday could keep the indices on course for further upside action.