Global Indices & Markets News
U.S. Equity Market
For the week, the Dow rose 0.6 percent and the S&P 500 edged up 0.2 percent. Result of election in Italian parliament and budget fights in U.S. congress weighted on the equity markets.
U.S. Budget Fights
Budget fights in Congress took their most serious turn in years last Friday when USD 85 billion in indiscriminate spending cuts known as "sequestration" began to kick in after both parties failed to agree on how to stop them.
The Latest Testimony from Bernanke
Bernanke strongly defended the Fed's bond-buying stimulus program and quieted rumblings that the central bank may pull back from its stimulative policy measures, which were sparked by the release of the Fed minutes last week.
No Tightening Monetary Policy in Europe
European Central Bank President Mario Draghi signaled the bank has no intention of tightening monetary policy anytime soon with inflation projected to “significantly” undershoot its 2 percent target next year.
Results of Election in Italian Parliament
Italy's parties wrangled over how to form a government after this week's deadlocked election as no party can win enough seats to control the Senate. Italian President ruled out an early return to the polls on Friday.
Upgrade of Japan’s Economic Forecast
Japan's government raised its assessment of the economy in February for the second consecutive month, saying factory output has bottomed out and corporate sentiment is improving due to the falling yen and rising share prices.
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