Global Indices & Market News
Global stock market review
Bolstered by the deal to reopen the U.S. government and extend the borrowing limit, U.S. S & P 500 Index rose 2.42% and reached a record high. Hong Kong's Hang Seng Index and Nikkei 225 index rose 0.52% and 1.09% respectively.
Italy target to cut budget deficit to 2.5% of GDP in 2014
Italy plan to cut the budget deficit to 2.5% of gross domestic product next year, and then wind it down to less than 0.1% of GDP in 2016, according to a draft of the 2014 budget law the cabinet discussed on last Tuesday.
German ZEW index of economic confidence up more than expected
German economic optimism increased more than expected in October. The ZEW index, published last Tuesday, rose to 52.8 points from 49.6 the month before. Analysts had expected a more modest rise to 51.0.
Fed Beige book: U.S. economy growing at ‘Modest to Moderate’ pace
The U.S. economy maintained a “modest to moderate pace” of growth in recent 2 months, bolstered by industries ranging from housing to manufacturing, the Federal Reserve said last Wednesday.
U.S. initial jobless claims drop 15,000
For the week ended Oct. 12, initial jobless claims declined by 15,000 to a seasonally adjusted 358,000, the Labor Department said Thursday. Economists had expected claims to drop to 330,000.
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