MarketS DailY - Dec 03

US Markets

Dow 8,419 270.00
Nasdaq 1,450 51.73
S&P 500 849 32.60

Europe

London 4,123 57.37
Paris 3,153 72.47
Frankfurt 4,532 137.00

Asia at 9 00 AM

Tokyo 8,056 192.69
Hong Kong 13,651 245.21

SGX Nifty 2680 +27

Commodities

Oil $47.91 0.95
Gold $783.30 6.50

Market Outlook:

US Markets gave a pull back after the big fall on monday, Asian markets are trading up 2% . Nifty is largely in a range bound trade between 2500-2860 levels. Any news flows will give a break out of this range. A bail out package is expected to hit the markets in coming days. A small rally is a possibility.

News Today:

* The Big 3 auto makers go back to the congress with a new plan to get the $25 billion aid.

* Industrial Giant GE says its 4th quarter earnings is likely to be at the lower end of the forecasts, announces no cuts in dividend pay.

* FED chairman Bernanke says current crisis is nothing compared to depression is 1930's.

* China's economy is facing a rapid deceleration. Recent economic data shows that the fastest growing economy in the world is decelerating faster than expected.

* Bank of Japan leaves interest rates unchanged, allows provision for increased lending.

* Crude is hits a multi year low of $47, OPEC considering large production cuts.

* Brutal decline in auto sales continues in November as Toyota, No. 2 in U.S. behind GM, falls 33.9%, Honda drops 31.6%, Nissan falls 42.2%. GM down 41.3%, Ford falls 30.5%, Chrysler drops 47%.