Tuesday, September 4, 2012

Stock Market forecast september 5 2012

Stock Market forecast september 5 2012 : The Asian stock markets are looking at another mixed lead with a hint of caution ahead of Thursday's European Central Bank meeting and U.S. non-farm payroll data on Friday.

European Central Bank President Mario Draghi has given his clearest signal yet on what the central bank is up to and how the ECB is going act on the euro cris, in what seems to be an unofficial disclosure by European lawmakers of his confidential statement before the European Parliament.

According to reports, during the closed-door meeting of the lawmakers, Draghi defended a number of measures introduced by the ECB, including the controversial bond-purchase plan, and indicated that the central bank is not averse to buying government bonds of up to three-year maturities on the secondary market.

Draghi, who is widely expected to announce the details of his latest crisis-fighting measures after the ECB Governing Council meeting on Thursday, reportedly said that the latest plan will not amount to state financing of euro area governments. Read Predictions ECB Meeting september 6 2012

The major U.S. markets ended lower on Tuesday as the Dow dipped 0.42 percent to finish at 13,035.94, while the NASDAQ added 0.26 percent to end at 3,075.06 and the S&P 500 eased 0.12 percent to close at 1,404.94.

The major European markets were sharply lower on Tuesday as Germany's DAX dipped 1.17 percent, while the CAC 40 in France fell 1.58 percent, London's FTSE dropped 1.50 percent and the Swiss market fell 1.16 percent.

The Asian markets were mostly lower China's Shanghai Composite shed 0.75 percent, while Hong Kong's Hang Seng dipped 0.66 percent, Indonesia retreated 0.31 percent, South Korea's KOSPI fell 0.29 percent, Singapore's Straits Times lost 0.19 percent, Japan's Nikkei eased 0.09 percent, Malaysia and Taiwan each added 0.01 percent and Thailand collected 0.07 percent.

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