EXTRACTS FROM EQUITY RESEARCH DESK • U.S. stocks rose, leaving the Standard & Poor’s 500 Index less than 1 percent from a record, amid signs lawmakers could reach a deal before the government loses its ability to borrow money in three days. Dow 15301.3 +64.2 +0.42%, Dow Futures 15236 +11.0 +0.07% • Asian stocks rose, with the regional index heading for a five-month high, as Senate leaders said they’re optimistic they will forge a deal to reopen the U.S. government and avoid a breach of the debt limit this week. Hang Seng 23353.7 +135.4 +0.58% Nikkie 14475.9 +71.1 +0.49% Sgx Nifty 6204.0 +60.5 +0.98% • US S&P 500 companies are expected to post earnings growth of 4.2% in the quarter, down from the 8.5% rate that had been forecast on July 1. Of the 31 S&P components that have reported so far, about 55% have topped expectations, below the historical average of 63%. • Early on Tuesday, Senate majority leader Harry Reid said he made tremendous progress with Republican leader Mitch McConnell towards a solution that raises the debt limit. Wall Street shares ended higher after President Barack Obama postponed a meeting with Congressional leaders on Monday to give the Senate more time to reach a solution to end the government shutdown. The U.S. government needs to raise the debt ceiling before October 17 in order to avoid a potential default on its debt - the Treasury needs to make a Social Security payment of around $24 billion on November 1.
Posted on: Tue, 15 Oct 2013 04:34:12 +0000
Trending Topics
Recently Viewed Topics
© 2015