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Market Update Analysis: 
U.S. Stocks Rise on Intel, Cisco, Wal-Mart
Author: 123jump.com Staff
123jump.com
Last Update: 5:24 PM EDT April 10 2008


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U.S. trade deficit in February increased 5.7% as imports in the month rose faster than exports. Talks of cheap dollar fueling exports, at least in February did not help. Dollar came immediately under renewed pressure in the currency market and talks of another rate cut intensified. In addition, initial claims of jobless benefit fell 53,000 at the end of last week. The Bank of England lowered its key rate to 5% but ECB left its target rate at 4%.

 
Colombia led the decliners in South American trading with a loss of 1.63% followed by decreases in Peru of 1.34%, and in Argentina of 0.67%. Venezuela led the gainers in the region with a rise of 2.25% followed by gains in Mexico of 0.74% and in Brazil of 0.08%.

Asian Markets

In Tokyo Nikkei 225 Index closed lower 166.59 or 1.27% to 12,945.30, in Hong Kong Hang Seng index increased 202.53 or 0.84% closed to 24,187.10. In Australia ASX 200 index lower 73.80 or 1.34% to close 5,446.40. In Malaysia KL Composite index increased 20.45 or 1.67% closed to 1,248.19.

In South Korea Kospi Index increased 9.93 or 0.57% to close at 1,764.64, in Thailand SET index closed lower 5.21 or 0.63% to 820.98 and Indonesia JSE Index edged increased 55.85 or 2.56% to 2,235.93. Sensex index in India decreased 95.41 or 0.60% to 15,695.10.

Commodities, Metals, and Currencies

Crude oil decreased $0.72 to close at $110.15 a barrel for a front month contract, natural gas decreased 3 cent to $10.03 per mBtu, and gasoline futures increased 1.18 cents to close at 278.60 cents per gallon.

Gold decreased $5.70 in New York trading to close at $931.80 per ounce, silver closed down $0.16 cents to $18.04 per ounce, and copper for front month delivery decreased 7.60 cents to $3.924 per pound.

Wheat futures decreased 10.00 cents in Chicago trading and closed at $9.36 per bushel. Sugar increased 15.00 cent to $13.08 per pound. Soybean future closed up 42.75 cents to $13.73 a bushel.

Dollar edged higher and traded near a record low against euro to $1.5744 and edged higher against yen to 101.925.

Yields on U.S. bonds declined to 3.53% on 10-year bonds and fell on 30-year bonds to 4.34%.
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