Nasdaq OMX Group (NDAQ) terminated some pre market trading in nine companies on Thursday. The names include Citigroup ,Goldman Sachs Group , and Hewlett-Packard Co. (HPQ), according to a trader notice from Nasdaq.
The exchange operator said it's going to cancel all trades in the nine Companies that priced above 10% from Wednesday's ending price during the last minute ahead of the open up on Thursday. Immediately after informing traders to check into their trading activity for trades which could be designated as "definitely erroneous," Nasdaq later said the exchange "will be canceling trades on the participants behalf."
A New York Stock Exchange representative said it was not affected and isn't canceling any trades. The decision comes after an earlier announcement that Nasdaq was investigating potentially erroneous buying and selling activity in between 9:29 a.m. and 9:30 a.m. EST in more than a dozen companies.
A spokesman from BATS Global Markets said the exchange didn't have affected trades. Other companies whose shares were affected include Kroger Co, Western Union Co., Ventas Inc., Wells Fargo, AT&T and Sprint Nextel Corp. It had been the second occasion this week in which concerns have developed with regards to trading prior to the market's 9:30 a.m. EST open. On Wednesday, confusion over dividend payments to holders of shares of fiber-optics firm Tellabs Inc. ended up being suspected to be driving sharp ups and downs in its shares. Some investors appeared to think the cutoff for getting the dividend was this week as opposed to later this month.
Ben Bernanke Press Conference Video
Mr. Bernanke said the Fed will use a balanced approach in determining when and how quickly to raise rates.
Fed policy makers said that they expect the Fed rate to stay very low as long as the unemployment rate remains above 6.5%, projected shorter-term inflation is no more than 2.5% and longer-term inflation expectations continue to be well anchored. He said that the inflation would be well below 2%.
Mr. Bernanke said "no single indicator" provides a complete assessment of the labor market. The Fed will look to measures such the level of discouraged workers and the labor-force-participation rate in addition to the unemployment rate.
Mr. Bernanke said that the threshold numbers would be based on substantial analysis.
He said that Fed QE would continue till we have substantial employment gains.
Vilasrao Deshmukh Passed Away
Union Minister Vilasrao Deshmukh, who was struggling with a
life threatening liver ailment, died at Global Hospitals in Chennai on Tuesday
afternoon. He was 67.
Deshmukh experienced improvement but turned crucial and died due to multiple organ failure at 2 pm. His family members, including his three sons, were by his side when he breathed his last.
He was in the process of treatment at Breach Candy medical center in Mumbai for around last a week and needed to be shifted to super-speciality Global hospitals on August 6 as a result of deterioration in his condition.
A team of doctors, which includes famous liver transplantation surgeon Dr Mohamed Rela, had devoted their best to save him. Deshmukh was on life-support devices.
Attempts to save Vilasrao Deshmukh suffered a major setback after a man in coma, whose liver and kidney were to be harvested and transplanted in Deshmukh, died hours before the operation yesterday night.
Manmohan Singh said "Mr Deshmukh was a trusted colleague and an able administrator who worked at panchayat, state and central levels with admirable dedication," Singh said in his message.
Deshmukh experienced improvement but turned crucial and died due to multiple organ failure at 2 pm. His family members, including his three sons, were by his side when he breathed his last.
He was in the process of treatment at Breach Candy medical center in Mumbai for around last a week and needed to be shifted to super-speciality Global hospitals on August 6 as a result of deterioration in his condition.
A team of doctors, which includes famous liver transplantation surgeon Dr Mohamed Rela, had devoted their best to save him. Deshmukh was on life-support devices.
Attempts to save Vilasrao Deshmukh suffered a major setback after a man in coma, whose liver and kidney were to be harvested and transplanted in Deshmukh, died hours before the operation yesterday night.
Manmohan Singh said "Mr Deshmukh was a trusted colleague and an able administrator who worked at panchayat, state and central levels with admirable dedication," Singh said in his message.
Congress president Sonia Gandhi called Deshmukh’s passing
away as a great loss to the party.
The national flag will fly at half-mast.
Weak Independence Day Celebrations due to Faltering Indian Economy
India is getting ready to enjoy its 66th Independence Day August 15, it looks like to be not a moment to celebrate with its economy declining as a result of the global economic downturn and poor governance.
The economic growth worsened greatly to 5.3 % in the first quarter, which was 9.2 percent in the corresponding period last year. D. Subbarao, Governor of the Reserve Bank of India, mentioned clearly in a conversation at an event recently in Thiruvananthapuram last week that the we should concentrate more on controlling inflation rather than aiming substantial growth. The RBI believes that decrease in interest rates would do very little to improve growth. In fact, it concludes that even more decline of the interest rate at this time, instead of encouraging growth,could worsen inflationary pressures.
Last month the RBI cut its growth prediction for this financial year (April-March) from 7.3 %to 6.5 %. This year's discouraging monsoon might negatively effect on the production, inflation and budget. The less monsoon this year will add to problems regarding inflation and sharpened economic slowdown which has been there since late last year. Farming output remains to be more crucial for India than for many other emerging economies.
Looking ahead, the RBI's more aggressive tone indicates that there is a increasing likelihood that the central bank will keep rates unaffected this year.
The economic growth worsened greatly to 5.3 % in the first quarter, which was 9.2 percent in the corresponding period last year. D. Subbarao, Governor of the Reserve Bank of India, mentioned clearly in a conversation at an event recently in Thiruvananthapuram last week that the we should concentrate more on controlling inflation rather than aiming substantial growth. The RBI believes that decrease in interest rates would do very little to improve growth. In fact, it concludes that even more decline of the interest rate at this time, instead of encouraging growth,could worsen inflationary pressures.
Last month the RBI cut its growth prediction for this financial year (April-March) from 7.3 %to 6.5 %. This year's discouraging monsoon might negatively effect on the production, inflation and budget. The less monsoon this year will add to problems regarding inflation and sharpened economic slowdown which has been there since late last year. Farming output remains to be more crucial for India than for many other emerging economies.
Looking ahead, the RBI's more aggressive tone indicates that there is a increasing likelihood that the central bank will keep rates unaffected this year.
Video on Why Europe is Concerned about Recession in Greece
Everyone is aware about the Recession in 2012. Greece is the
worst affected. Rising Debt & unemployment in Greece
is a big concern in Europe. People are expecting
Triple- Dip recession. This recession is Global & latest news about fresh addition
to recession hit region is Spanish.
Greece recession
has been a big concern in Europe. This Video
explains why Europe is concerned about recession in Greece.
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