Introduction of KYC By All Mutual Fund Houses
Jan 3rd
MUTUAL FUND
Birla Sun Life, SBI, DSP BlackRock & ICICI Prodential Mutual Fund other mutual fund companies has revise their KYC Process as SEBI has introduced a common know your customer application for the registeration by SEBI and to bring uniformity in KYC process. It have been introduced in different funds as Portfolio Managers , Mutual Funds, Collective Investment Schemes, Venture Capital Funds, Stock Brokers etc. Invester who are new or old are requested to use the common KYC application form to apply for KYC.
The fund houses shall perform the initial KYC of its new investors and may undertake enhanced KYC measures commensurate with the risk profile of its investors. More >
US Economy With All Good Reports (as on 30dec)
Jan 1st
US Economy with all good report on 30 December 2011
. The US stock market rise high on Thursday, as a rise of S&P 500, it started getting back into positive for the year, as economic data signaled that US is weathering Europe’s debt crisis. The markets extended early gains as an index of pending US home sales rose more than economists forecast, while other reports showed stronger-than-projected growth in American business activity and a drop in jobless claims over the past month to a three-year low. Data from the Labor Department said US jobless claims came in at 381,000, up from 366,000 the prior week. But the four-week moving average fell to 375,000 last week, with fewer Americans filing for jobless benefits during the past month than at any time in the past three years. This is the fourth week that claims have held below 400,000, which is considered a break-even point in job creation
Other data showed that business activity in the US expanded more than forecast in December, prompting companies to boost employment. The Institute for Supply Management-Chicago Inc.’s business barometer was 62.5. More >
US Economy Recorded A Flat Close Inspite Of Jumping In Consumer Confidence (as on 28 dec)
Dec 30th
US Economy recorded a flat close in market.
The market seems to jump in for consumer confidence as it was assumed elear. The Industrial average of Dow Jones seems to a bit lower on this Tuesday to end up its recent winning streak, but the S&P 500 Indes and Nasdaq Composite finished modestly higher on the heels of a jump in consumer confidence for December. Confidence among consumers rose to an eight-month high in December as an improving job market helped Americans regain all the ground lost following the mid-year government budget battle and credit-rating downgrade. The Conference Board’s index increased to 64.5, exceeding all estimates and the highest since April, from a revised 55.2 reading in November.
US Economy
with another report showed home prices fell down more than projected in October. The S&P Case-Shiller index of home values in cities dropped 3.4% from October 2010 after decreasing 3.5% in the year ended September. More >
US Economy Rises Up After Congress Approves Tax Cut Extension ( as on 25 dec)
Dec 28th
US Economy
rise as the stock market gain for the fourth day after $1 trillion bill was signed by Mr. President Barack Obama to fund most of the government spending till the end of the fiscal year to September. The budget for the fiscal year also cut spending by 3 percent for the Environmental Protection Agency and by 2 percent for the International Revenue Service and by 6 percent the Government Accountability Office. The payroll tax cut was extended for two months by the House and the Senate and signed by the President hours later.
The optimism in the market continued with the Commerce Department stating that orders for long-lasting goods climbed 3.8 percent in November, while consumer spending climbed 0.1percent last month. A third report had new-home sales for November More >
US Economy Recorded Better Data (as on 23 dec)
Dec 24th
US Economy recorded better data
as market rise up on Thursday, with record of extending gain in third day by S&P 500. As American claimed jobless and consumer confidence was recoreded much more better than the expectation. The government count for the 1st time filings for unemployment benefits last week declined to 364,000, the lowest level since April 2008 which lifted hopes that the jobs market may be in a very slow recovery. The report showed that initial jobless claims fell 4,000 to 364,000 from the previous week’s revised figure of 368,000. And, the Conference Board’s index of leading economic indicators rose 0.5 percent in November after a 0.9 percent rise the month before. Separately, the Thomson Reuters University of Michigan’s final reading of consumer sentiment rose to 69.9 in December from 64.1 at the end of last month.
The third estimate of the US Economic gross domestic product was revised lower to 1.8 percent for July-September quarter from the second estimate of 2 percent and first estimate of 2.5 percent. Weak exports and rising More >
US Economy Late Rise To End Of Volatile Day Of Trade Flat
Dec 23rd
US Economy
late rise as market got pick up at the day end and made a mixed closing as on Wednesday 2011.As markets spent most of the session in the red following the European Central Bank’s offer to lend a record amount to euro area banks. Hope that came with the ECB’s loan plan faded on worries that it would not increase lending between banks nor will reduce the huge debt burdens of European governments. The ECB loaned 489 billion euros or $639 billion to 523 banks for three years, the biggest such injection into the banking system in the 13 year history of the region’s shared currency. Earlier, the market turned lower and tech stocks led the decliners after Oracle made cautious statement on large sales. In addition, the existing homes sales were also revised lower to 14 percent between the period 2007 and 2010 and raised serious questions about the reliability of the data from the industry association.
The market trimmed its losses in the last hour of trade as both Bank of America Corp. and Yahoo Inc. made a sharp recovery. The Justice Department announced a $335 million settlement with Bank of America over alleged discriminatory lending practices by its Countrywide Financial Corp. unit, putting an end to one legal issue hanging over the company. While, Yahoo was discussing a plan to cut its stake in Alibaba Group Holding to about 15% from 40%.
Dow Jones industrial average gained today 4.16 points or 0.03%, to 12,107.70. The Standard and Poor’s 500 closed higher by 2.42 points or 0.19%, to 1,243.72, while the Nasdaq composite lost 25.76 points, or 0.99%, to 2,577.97. It show the missed closed in US Economy.
US Economy Rise Rapidly On German Business Index And Housing Data (as on 21 dec,2011)
Dec 22nd
US Economy
recorded best day so far this month as on Tuesday rapid rise, as sentiments about the global economy got a boost from a jump in the nation’s housing starts, improving German business data and a better Spanish bond auction. Investors reacted strongly after seasonally annual housing starts in November rose 9% from October as builders’ ramp up apartment housing. The apartment construction surged 30percent in the month from a year ago as families prefer to rent than own. US builders broke ground in November on the most houses in over a year, a sign that the market is stabilizing heading into 2012.
US Investors also got a burst of good news from Europe, where the heavy debt loads and surging borrowing costs of several euro-zone members have raised the prospect of a global recession. The IFO Institute’s index of German business confidence edged higher in Dec, beating analysts’ expectations for the largest European economy. The IFO institute’s business climate index was based on a survey of 7,000 executives which increased to 107.2 More >
US ECONOMY FALL ON EURO DEBT CRISIS CONCERN (as on 20 dec)
Dec 21st
US Economy
fall on euro debt crisis on Monday, halting a two-day advance amid concerns that European leaders were failing to make progress in taming the debt crisis. France faces a debt rating downgrade while France, Italy and Spain expand the list of nations facing early recession. Federal Reserve Bank of Richmond President JEFFREY Lacker predicted that the US economy will grow 2% to 2.5% next year, with inflation likely to meet central bank goals, and urged no additional stimulus. Investors were pessimistic on reports that the Federal Reserve is expected to embrace a new global framework that requires giant financial institutions to hold extra capital, a defeat for giant US banks.
ECB President Mario Draghi, in europ undercut hopes that the central bank would be more aggressive in helping struggling countries by expanding its bond purchases, noting its governing treaty forbids monetary financing. The report was disappointing to investors who view ECB purchases of debt issued by European countries nearly squeezed out of the bond market as an important tool in ending the sovereign-debt crisis. The sentiments were further dampen after a statement from European Union finance ministers, who met by telephone, said euro-currency members had agreed on providing additional bailout funding via the International Monetary Fund. But the added resources 150 billion euros or $196 billion fell short of the 200 billion euros proposed at the December 9 European leaders summit.
The Dow Jones industrial average lost 100.13 points, or 0.84% , to 11,766.30. The Standard and Poor’s 500 closed lower by 14.31 points, or 1.17% , to 1,205.35, while the Nasdaq composite lost 32.19 points, or 1.26 %, to 2,523.14. As this show the fall of US Economy.
US ECONOMIC REPORTS ARE GOOD AS US MARKET END UP HIGH
Dec 18th
US Economic Reports
are shown good as US Market ends up high as everytime on Thursday US Market end with a rise, halting a 3rd slide, after reports on jobless claims and manufacturing pointed to strength in the US economy. Initial jobless claims filed in theUSlast week were the lowest since 2008 May, the Labor Department stated, the latest indication of strength in the weak jobs market. Also helping sentiments was a gauge of mid-Atlantic manufacturing activity which jumped for December versus the prior month. A slew of otherUSeconomic data also cheered investors. Wholesale prices of US rose slightly in November due to higher food costs, but the underlying rate of increase in producer prices More >