Evening Market Wrap

Evening Market Wrap Tuesday, November 1, 2011, 17:01 Contents Commentary Economic News Corporate News Political News Commentary Stocks Close Sharply Lower Amid Renewed Concerns About Europe - U.S. Commentary After moving sharply lower at the open, stocks continued to see substantial weakness throughout the trading day on Tuesday. Renewed concerns about the financial situation in Europe helped to pull the markets down further off last week's highs. (Nov 1, 2011) Full Article Economic News U.S. Manufacturing Activity Expands At Slower Rate In October Activity in the U.S. manufacturing sector unexpectedly expanded at a slower rate in the month of October, according to a report released by the Institute for Supply Management on Tuesday, with the index of activity in the sector pulling back toward the key 50 level. The ISM said its manufacturing index dropped to 50.8 in October from 51.6 in September, with a reading above 50 indicating growth in the sector. The drop surprised economists, who had expected the index to edge up to 52.0. (Nov 1, 2011) Full Article U.S. Construction Spending Rises Slightly Less Than Expected In September U.S. construction spending continued to grow in September, according to figures released Tuesday by the Commerce Department, although the pace of growth was slightly slower than most economists had predicted. According to the Commerce Department, construction spending in September came in at a seasonally adjusted annual rate of $787.2 billion, a 0.2 percent increase from the revised August level of $786 billion. (Nov 1, 2011) Full Article Corporate News Adobe Acquires Auditude Design software maker Adobe Systems Inc. (ADBE) Tuesday said it has acquired privately-held Auditude Inc., a provider of video ad management and monetization technologies for premium publishers and media companies. The deal will help Adobe provide an end-to-end video offering, seamlessly connecting authoring, publishing, monetization and optimization to help customers build long-term businesses through delivery of quality video content and superior viewing experience across all IP-enabled devices. (Nov 1, 2011) Full Article Caterpillar Finalizes MWM Holding Purchase Construction and mining equipment maker Caterpillar Inc. (CAT) said it has finalized the purchase of MWM Holding GmbH from 3i (III.L) and funds managed by 3i for 580 million euros, or approximately $800 million. MWM will become part of Caterpillar's Electric Power Division, which supplies diesel and natural gas generator sets and integrated power systems involved in the generation, control and supply of electricity. (Nov 1, 2011) Full Article Mitsubishi Corp. H1 Profit Declines Mitsubishi Corp. (MSBHY.PK, MBC.L) posted first-half net income attributable to Mitsubishi of 245.69 billion yen or 149.01 yen per share versus 267.96 billion yen or 162.62 yen per share last year. Total revenues grew to 2.7 trillion yen from 2.55 trillion yen in the prior-year period. (Nov 1, 2011) Full Article Political News Obama Names Fort Monroe A National Monument As Part Of Efforts To Create Jobs President Barack Obama signed a proclamation Tuesday designating Fort Monroe in Virginia's Tidewater region as a National Monument. Obama said the move is part of a series of unilateral actions the administration is taking to put Americans back to work and strengthen the economy. (Nov 1, 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