Sunday, 2 December 2012
FKLI Related News
NEW YORK (Reuters) - The S&P 500 wrapped up its fifth positive month in the last six on Friday, although it ended the day flat as politicians remain at odds about how to avoid the so-called fiscal cliff.
On Friday, President Barack Obama accused a "handful of Republicans" in the U.S. House of Representatives of holding up legislation to extend tax cuts for middle-class Americans in order to try to preserve them for the wealthy. Speaking shortly after the president, House Speaker John Boehner, an Ohio Republican, said: "There is a stalemate; let's not kid ourselves." Despite the divisive language, many market participants are betting that a deal will be struck - if only at the eleventh hour.
The Dow Jones industrial average (^DJI) rose 3.76 points, or 0.03 percent, to 13,025.58 at the close. The S&P 500 (^GSPC) gained a mere 0.23 of a point, or 0.02 percent, to finish at 1,416.18. But the Nasdaq Composite Index (^IXIC) dipped 1.79 points, or 0.06 percent, to end at 3,010.24. For the month of November, the S&P 500 rose 0.29 percent, its smallest monthly variation since March 2011. The Dow fell 0.5 percent and the Nasdaq gained 1.1 percent. For the week, though, all three major U.S. stock indexes advanced, with the Dow up 0.1 percent, the S&P 500 up 0.5 percent and the Nasdaq up 1.5 percent.
After a close relationship for several years, Facebook (FB.O) and Zynga (ZNGA.O) revised terms of a partnership agreement, according to regulatory filings on Thursday. Under the new pact, Zynga, creator of the "Farmville" game, will have limited ability to promote its site on Facebook. Zynga's stock fell 6.1 percent to $2.46. Facebook's stock gained 2.5 percent to $28. Apple Inc's (AAPL) latest iPhone received final clearance from Chinese regulators, paving the way for a December debut in a highly competitive market where the lack of a new model had severely eroded its share of product sales. Apple's stock fell 0.7 percent to $585.28.
U.S. consumer spending fell in October for the first time in five months and income growth stalled, leading some economists to cut already weak estimates of fourth-quarter economic growth. Slightly more than 7 billion shares changed hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, more than the daily average so far this year of about 6.48 billion shares and the largest in two weeks. On the NYSE, roughly six issues rose for every five that fell, while on Nasdaq, the ratio was nearly 1 to 1.
Malaysian stock index closed higher at 1610.83 while index futures for December contract closed lower at 1607.50. Today’s Support and Resistance for spot month contract is located around 1,600 and 1,615 respectively.