Weakest Monsoon Rain in Five Years to Curb Sugar, Rice Production in India India’s monsoon rains, the main source of irrigation for the country’s 235 million farmers, may be the weakest in five years, curbing output of sugar and rice and stoking global commodity prices.
India's Growth May Be Cut by Below-Average Monsoon Rains, Singh Aide Says A below-average monsoon may shave as much as one percentage point off India’s economic growth this year, an adviser to Prime Minister Manmohan Singh said.
Gold Declines for Fourth Day After Dollar Strengthens on U.S. Jobless Data Gold declined after an unexpected drop in U.S. unemployment drove the dollar higher, eroding the appeal of the precious metal as an alternative investment.
Sensitive Index Falls on Monsoon Concerns; Mahindra & Mahindra Leads Drop Indian stocks fell, led by Mahindra & Mahindra Ltd., on concern shortfalls in agricultural production caused by this year’s poor monsoon may slow the country’s economic growth.
Asian Stocks May Add 23%, India Upgraded as Reforms Advance, JPMorgan Says Asian stocks may climb a further 23 percent to 450 by the end of the year amid signs of a stronger- than-expected economic recovery, JPMorgan Chase & Co. said.
Oil Falls as Asian Equities Decline Revives Concerns Over Weak Fuel Demand Crude oil traded above $71 a barrel in New York, poised for a fourth weekly gain on optimism the prospects for a global economic recovery have improved.
Sugar Extends Rally to 28-Year High on Concern India Weather to Limit Crop Sugar climbed in New York, extending a rally to the highest price in more than 28 years, on concerns that low monsoon rainfall may stunt cane crops and reduce output in India, the world’s largest producer after Brazil.
Bonds Drop as Government Auction Failure Signals Demand for Debt Weakened India’s 10-year bonds fell, snapping a two-day gain, after the government failed to sell 120 billion rupees ($2.5 billion) of debt at an auction on Aug. 7, the first such instance since March.
Stocks in U.S. Retreat on Valuation Concern; Disney, Eli Lilly Shares Drop U.S. stocks fell after four straight weeks of gains left the Standard & Poor’s 500 Index trading at its most-expensive relative to earnings in more than four years. European equities and metal prices also retreated.
VIX Signals S&P 500 Swoon in September as History's Worst Month Approaches Options traders are increasing bets that the steepest rally in the Standard & Poor’s 500 Index since the 1930s won’t survive September, historically the worst month for U.S. equities.
Fed Focusing on Commercial Real-Estate Recession as Bernanke Convenes FOMC The collapse in commercial real estate is preventing Federal Reserve Chairman Ben S. Bernanke from declaring the economy and financial markets are healed.
Pequot Trading in Google, Cox, Premcor Triggered Watchdog Warnings to SEC Pequot Capital Management Inc., once the world’s biggest hedge-fund manager, was cited in at least 44 private reports from exchange watchdogs in the past four years alerting U.S. regulators to potential insider trading, market manipulation or other misconduct, government documents show.
Intervention by Bank of Canada Would Hold Down Soaring Loonie, Caisse Says An intervention in the currency market by the Bank of Canada to weaken the nation’s soaring dollar would be successful, following a similar move by the Swiss National Bank, said the head of foreign exchange at Canada’s biggest pension-fund manager.
Derivatives Group Asked to Determine Whether Thomson Credit Event Occurred The International Swaps & Derivatives Association was asked to determine whether a “restructuring credit event” has occurred regarding credit- default swaps on Thomson SA, according to ISDA’s Web site.
Priceline.com Gains as Profit Beats Estimates on Discounts, Summer Travel Priceline.com Inc., the online travel agency, rose the most in almost six months in Nasdaq trading after reporting second-quarter earnings that beat analysts’ estimates.
source: Bloomberg
