MarketS DailY - Dec 11

US Markets

Dow 8,761 70.09
Nasdaq 1,565 18.14
S&P 500 899 10.57

Europe

London 4,367 -13.98
Paris 3,320 22.51
Frankfurt 4,805 25.77

Asia at 9 00 AM

Tokyo 8,663 2.27
Hong Kong 15,553 -25.07

SGX Nifty 2956 +24 pts

Commodities

Oil $43.81 0.29
Gold $808.80 34.60

Market Outlook:

US Markets ended flat in green as the bail out for the Big 3 automakers takes shape. A big rally is commodity market was seen. All world markets are staging a strong come back rally. Nifty is playing catch up with other world markets. A close above 2950 levels in nifty would indicate the continuation of +ve trend.

News Today:

* Big 3 bail out passes the house of representatives but faces opposition in Senate. Republicans are not impressed to help the auto firms.

* Unexpected Drop in China’s Imports and Exports, evident slow down beginning to show up.

* India's Job recruitment rate is at a 3 year low. Big slow down in realty and mining Jobs.

* Rio tinto , one of the biggest mining companies in the world announced 14,000 job cuts.

* Worst of recession upon us, top forecasters say.

* Indian Government has called upon a meet with the bankers , likely to issue diktat to cut lending rates.