MarketS DailY - Dec 12

US Markets

Dow 8,565 -196.33
Nasdaq 1,508 -57.60
S&P 500 874 -25.65

Europe

London 4,389 21.41
Paris 3,306 -14.18
Frankfurt 4,767 -37.68

Asia at 9 00 AM

Tokyo 8,353 -367.38
Hong Kong 14,810 -803.88

SGX Nifty 2836 -109 pts

Commodities

Oil $47.02 -0.96
Gold $826.60 17.80

Euro / $1US 1.34 0.0048
$1US / Yen 91.08 -0.3100

Market Outlook:

US Markets ended lower on worries about government bailout of automakers, and fears for financial firms . Nifty made an attempt to close above 2900, we are set for weak open on the back of sell of across asia.

News Today:

*The Big 3's $14 billion deal falls apart in Senate. GM hires lawyers, bankers to weigh filing for bankruptcy says a report.

* Crude rallies 8% to near $48/barrel. Oil demand falls for the first since 1983.

* Yen weakens against dollar, slips below 91 will hurt Japanese exporters.

* Bank of America to Cut 35,000 Jobs Over 3 Years.

* The Indian tech slowdown will continue up to the third quarter of 2009, according to global research firm Forrester.

* Inflation at 7-month low of 8%.