AAM as on 04 December 2009

Good Morning everybody.

Its end of the week 'Friday'.Don't strain too much...have fun without any work today.

Regarding Market happening/news:

1.Stock markets in America,Europe,Asia were down after reaching maximum levels during the week.

2.The major impact is because of the Labour report which says about 4,50,000 jobless claims during last week compared to the increased figures in the week before that.

3.And one more negative impact is the reports says that The service industries were not doing well for the past couple of months in both US and UK..

4.The Senate of banking committee have the plans to nominate 'Bernanke' for the second term as the Chairman of Fed Reserve..This was told by the Senate Banking chairman 'Christopher Dodd'.

5.Last but not least ,the good news is that Bank Of America(BOFA) planned to pay back 40 billion dollars which it borrowed from US Government as stimulus last years.It ahs sold around 25 billion dollars of securities it had and closed this debit.

There in no much information about the Dubai Real estate crisis as of now..may be we need to wait for week.

So there were no much reasons for the market to shoot up....i expect the SENSEX will go down by 50 to 100 points today.....
c u.Happy Weekend.
Karthik