Wednesday, 10 October 2012

FKLI Related News
U.S. stocks fell, sending the Standard & Poor’s 500 Index to the lowest level in a month, as Alcoa (AA) Inc.’s forecast fueled concern over corporate earnings and global economic growth. Alcoa, the largest U.S. aluminum producer, lost 4.6 percent after cutting its outlook for global demand for the metal. The S&P 500 slipped 0.6 percent to 1,432.56 in New York. The benchmark gauge fell 1 percent yesterday, and is down 2 percent over four days. The Dow Jones Industrial Average lost 128.56 points, or 1 percent, to 13,344.97.
Global equities slumped as China car sales unexpectedly shrank for the first time in eight months. French President Francois Hollande and Spanish Prime Minister Mariano Rajoy called on nations such as Germany to honor commitments on a banking union made at the European Council in June. The International Monetary Fund said European banks may need to shrink assets if policy makers fall short of pledges to stem the fiscal crisis. Asian stocks dropped, with the regional benchmark index heading for a fourth day of decline, after Japanese machinery orders fell and Standard & Poor’s downgraded Spain’s debt rating.
d with a 1.2% loss on Wednesday, pressured by a weaker oil-
FKLI Spot Month Contract opened lower this morning following an extended decline on Wall Street Wednesday amid concerns over U.S. corporate earnings and a global economic slowdown. Today’s Support and Resistance is located around 1,655 and 1,665 respectively.

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