MarketS DailY - Nov 18

US Markets

Dow 8,274 -223.73
Nasdaq 1,482 -34.80
S&P 500 851 -22.54

Europe

London 4,126 -106.65
Paris 3,188 -103.00
Frankfurt 4,554 -156.47

Asia at 9 30 AM

Tokyo 8,439 -83.41
Hong Kong 13,184 -345.59

SGX nifty 2770 -29

Commodities

Oil
$55.21 0.26
Gold
$742.00 -0.50

Market Outlook:

Market is likely to open flat to negative taking cues from asian markets. Yesterday markets made an attempt to hold the lows and bulls and bears were fighting it out to take charge. Volatility will shoot up in times like these. Broader market still remains in negative region, call position have build up at 2900 and 3000 levels. Fresh shorts are likely to take place at higher levels.


News Today

* Yahoo CEO Yang to step down.

* Citi Bank says it will outlay 50,000 people and cut costs by 20%, along with selling risky assets.

* Top officials in Goldman and UBS wont get bonuses for this year.

* The Federal Reserve said that US industrial output rose 1.3 percent last month.

* US Senate is likely to unveil bill for aid to U.S. auto makers.

* Crude closes at a 22-month low below $55 a barrel .