Top Post-Market Nasdaq Movers (MIPS, Star Scientific, ACADIA, Alpha and Omega, Nanosphere, Orexigen, Fulton, Acme)
The top after-market Nasdaq gainers Friday were MIPS Technologies, Star Scientific Inc, ACADIA Pharmaceuticals Inc and Alpha and Omega Semiconductor Limited. The top after-market Nasdaq losers were Nanosphere Inc, Orexigen Therapeutics Inc, Fulton Financial Corporation and Acme Packet Inc.
The Dow Jones Industrial Average (DJI: DJI) gained another 53.51 points, or 0.40 percent, on Friday to close at 13,593.37, the highest level in nearly five years. Recent aggressive efforts in the U.S
Ben Bernanke announces QE3. The much-awaited QE3 has boosted world markets as Fed Chairman Ben Bernanke announced that it will undertake open-ended purchase of mortgage-backed securities to the tune of $40bn per month.
The Federal Reserve's powerful rate-setting committee announced Thursday, as most market-watchers had expected, that it would engage in a third-round of unsterilized asset purchases to stimulate the U.S. economy. Following up on suggestions at a speech in Jackson Hole, Wyo., that it would go through with the monetary policy course -- colloquially known as QE3 -- the Fed announced it would expand the size of its long-term asset balance sheet by some $85 billion per month through the end of 2012, buying about $40 billion in mortgage-backed bonds
China and Germany have pledged stronger economic and trade cooperation to help Europe come out of the financial crisis and improve relations between the two nations. German Chancellor Angela Merkel and her Chinese counterpart Wen Jiabao signed a series of trade deals in the aviation, energy and communication sectors during Merkel's two-day visit to Beijing. At a joint press conference, Chinese Premier Wen Jiabao said the country would continue to invest in European government debt under full risk evaluation. Wen noted that achieving the right balance between fiscal tightening and economic stimulus is the key to solving the economic crisis. He also promised that China would continue to purchase European bonds to help the continent to emerge from the crisis
North Korea, one of the poorest, most isolated and repressive nations on earth, perhaps surprisingly, boasts a functional national airline that has a decent safety record and which flies to more destinations than one might expect. Originally founded in 1950 as a North Korean-Soviet joint venture, the state-controlled Air Koryo has a fleet of about 30, mostly older Russia n-made aircraft, and flies to 14 airports in six countries, with Beijing (three flights per week) and Shenyang in northeastern China (twice weekly), the most frequent destinations
India’s Current Account Deficit At Record High; IIP Statement Shows Increase In Net Liabilities To $248B
India 's current account deficit deteriorated to a record high of 4.5 percent of the GDP or $21.7 billion - a level seen for the first time in 20 years - for the quarter ending March 2012, data released by the Reserve Bank of India shows. Posing new difficulties for the struggling economy and the government, the current account deficit-difference between imports and exports reached 4.5 percent of the GDP and more than tripled when compared to the 1.3 percent for the same period in the previous year. The current deficit is worse than that recorded in 1991, at 3 percent, during one of its worst Balance of Payments (BoP) crisis in the recent history.
India 's economic growth is faltering as a result of weak governance, policy paralysis and opposition to reforms by the present government. These have dragged down the investor confidence
Local officials in China have blocked its internet users from gaining access to the Bloomberg/Businessweek news website, most likely because the news agency published a story detailing the vast wealth o f Vice President Xi Jinping, who is set to become the next president of the country. The story, published on Friday morning, said that Xi and his family have accumulated a fortune valued at hundreds of millions of dollars through investments in multiple, secret holding companies
European leaders will spend $149 billion to stimulate growth and create jobs, EU president Herman Van Rompuy said Thursday, the first day of a two-day European Union summit.