MarketS DailY - Nov 24

US Markets

Dow 8,046 494.13
Nasdaq 1,384 68.23
S&P 500 800 47.59

Europe

London 3,781 -94.03
Paris 2,881 -99.16
Frankfurt 4,127 -92.79

Asia at 9 00 AM

Tokyo 7,911 207.75
Hong Kong 12,429 -230.41

SGX Nifty 2675 -55 pts

Commodities

Oil
$50.54 0.61
Gold
$791.80 43.10

Market Outlook:

US Market rallied on the news that Obama will chose NY Fed chairman Tim Giethner as the next treasury secretary. Market will look up to a lot of data that is expected in US markets this week. A lot depends on how citi bank and General Motors are going to survive. A flow of positive news will give a good bear market rally. Look to play the rally and exit.


News Today:

* Citi Bank near a deal with US government to help it to survive , Citi's market cap drops by $160 billion.

* 22 US banks have collapsed this year.Three banks failed on Friday, marking the highest volume of bank failures in one day since the savings-and-loan crisis of the late 1980s.

* Obama to announce economic team nominations on Monday.

* GM is weighing in Bankruptcy as an option. The Big 3 automakers failed to impress the congress committee on why they should be bailed out. Focus shifted to citi bank.

* Tata's JLR talking to UK govt for $1.48 bn loan.

* Citi India holds equities worth 8000 crores. Be watch full on their holdings.

* Billionaire hedge fund manager George Soros says More Money is Needed For U.S. Bailout.

* Indian Govt readies Rs 50,000 crore plan for infra projects.

* India’s largest private airline Jet Airways has now proposed to slash salaries of its top keyexecutives by 25% and a cut of 10% for pilots in a bid to control costs.