Evening Market Wrap

Evening Market Wrap Monday, October 3, 2011, 17:01 Contents Commentary Economic News Corporate News Political News Commentary Stocks Close Sharply Lower Amid Renewed Greek Worries - U.S. Commentary After seeing considerable volatility early in the session, stocks moved sharply lower over the course of the trading day on Monday, as renewed concerns about the Greek debt crisis overshadowed some upbeat U.S. economic data. (Oct 3, 2011) Full Article Economic News U.S. Manufacturing Activity Unexpectedly Expands At Faster Rate Activity in the U.S. manufacturing sector expanded for the 26th consecutive month in September, according to a report released by the Institute for Supply Management on Monday, with the pace of growth unexpectedly accelerating compared to the previous month. The ISM said its manufacturing index rose to 51.6 in September from 50.6 in August, with a reading above 50 indicating growth in the sector. The increase came as a surprise to economists, who had expected the index to edge down to 50.5. (Oct 3, 2011) Full Article U.S. Construction Spending Shows Unexpected Rebound In August U.S. construction spending unexpectedly rebounded in August following a notable decrease in July, according to a report released Monday by the Commerce Department. According to the report, the seasonally adjusted annual rate of construction spending for August came in at $799.1 billion, a 1.4 percent increase from revised July figures. The revised July figures showed a slightly larger 1.4 percent decline compared to the 1.3 percent decrease initially reported. (Oct 3, 2011) Full Article Corporate News RIM, Tech Data Enter Distribution Deal For BlackBerry Solutions Research In Motion (RIMM, RIM.TO) and Tech Data Corp. (TECD) announced a new agreement that enables Tech Data to distribute BlackBerry devices, software and technical support services to its channel of over 60,000 value-added resellers in the United States. This agreement also allows Tech Data to support the end-to-end sale of BlackBerry solutions for small to mid-sized businesses through its new TDMobility offering operated by ActivateIT, a Tech Data and Brightstar Corp. joint venture company. (Oct 3, 2011) Full Article General Motors U.S. Sales Rise 20% In September Automaker General Motors Co. (GM) said Monday its U.S. vehicle sales for September increased by 20 percent over last year, despite weak consumer confidence and the economic uncertainty. GM's truck sales, which includes full-size pickups and SUVs, increased 34 percent, while car sales increased 12 percent. (Oct 3, 2011) Full Article Political News Obama Convenes Cabinet Meeting To Focus On Job Creation President Barack Obama held a Cabinet meeting Monday to emphasize that the entire federal government is working on ways to spur job creation. Some of the federal action, Obama said, would be administrative, seeking to make government contracts more efficient. "A good example would be, for example, accelerating the payments to small businesses so that they've got better cash flow," Obama said. (Oct 3, 2011) Full Article Home | Top Stories | Breaking News | Economic News | Forex | Politics | Featured Interviews Sent to autoforextradingpro@gmail.com | Customize your alerts | Unsubscribe Copyright © 2011 RTTNews. All rights reserved. By using this service, you agree to the Terms of Service