 "10 things to know before the opening bell")
Global cues:
The Dow and the S&P 500 ended slightly lower on Tuesday after rising bond yields increased debate over how soon the Federal Reserve would start trimming its stimulus program. Fed officials offered diverging views, adding to the uncertainty about the outlook for the Fed’s easy-money policies.
Asian shares sagged as investors positioned for the possibility that the US Federal Reserve would soon start slowing down its asset-buying stimulus.Atlanta Fed President Dennis Lockhart told reporters on Tuesday that a reduction of the central bank’s quantitative easing program remains a possibility at the Federal Open Market Committee’s next policy meeting on December 17-18.MSCI’s broadest index of Asia-Pacific shares outside Japan fell about 0.2 percent. Australia’s S&P/ASX 200 index was also down about 0.2 percent in early trade.
Gold was trading near a four-week trough on Wednesday and looked likely to test further lows as mixed signals from Federal Reserve officials added to uncertainty over the fate of the US central bank’s stimulus measures.
[caption id=“attachment_1103141” align=“alignright” width=“380”]  Reuters[/caption]
The dollar held firm on Wednesday, staying near a two-month high against the yen as investors bet that the U.S. Federal Reserve is on course to start reducing its stimulus as early as December.The dollar held at 99.63 yen, near a two-month high of 99.80 yen hit on Tuesday, having risen 0.6 percent so far this week, as the U.S. currency drew strength from a surge in U.S. bond yields.
Business/Stock news:
Paving way for closure of long-pending Jet-Etihad deal, fair trade regulator CCI on Tuesday approved the proposed acquisition of 24 percent stake in the Naresh Goyal-led Indian carrier by Abu Dhabi-based airline.
Reliance Capital Ltdshares will be under pressureafter net profit in the second quarter dropped 55% because of a one-time gain in the year-earlier period from a stake sale in a unit.
Reliance Communications Ltdshareswill be in focusafter it posted a five-fold jump in September quarter net profit toRs 675 crore owing to a write back from an earlier provision atRs 444 crore
Economy news:
After remaining flat in August, industrial production is showing signs of recovery as the output grew by two per cent in September, mainly on account of better performance by power and mining sectors. According to data released by the government, industrial output for April-September is 0.4 per cent compared to 0.1 per cent in the same period of 2012-13.
The annual consumer price inflation quickened more than expected to 10.09 percent in October from 9.84 percent in September, driven by food prices, government data showed on Tuesday.
The rupee is likely to remain under pressure as investors worried about a cutback to the Federal Reserve’s easy-money policies are once again pulling back from emerging markets like India, sparking a currency selloff that echoes the May to August rout.
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