 "10 things you need to know before the opening bell")
Global cues:
The S&P 500 closed at a record high on Thursday as investor confidence grew following a last-minute deal to avoid a US default, but weaker-than-expected results from heavyweights IBM and Goldman Sachs pressured the Dow.
The dollar languished near an eight-month low versus the euro on Friday as investors counted the costs of a two-week US government shutdown, with markets now seeking clues to when the Federal Reserve would begin reducing its stimulus program.
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Reuters.[/caption]
China’s economy grew 7.8 percent in the third quarter, its fastest pace this year and in line with expectations, as firmer foreign and domestic demand lifted factory production and retail sales.Yet any optimism from the government figures released on Friday could fade quickly as global demand remains volatile, which was underlined by a surprise fall in exports in September. Efforts at home to engineer slower but more sustainable growth will also weigh on the economy in coming quarters, analysts say.
**Google Inc’**s quarterly results beat Wall Street’s expectations as the Internet search giant expanded its mobile business while keeping ad-rate slides in check, offsetting deepening losses from Motorola
Business/Stock news:
The former chief executive of Indian commodities bourse National Spot Exchange Ltd (NSEL) was arrested on Thursday, a senior police official said, without specifying whether any charges were being pressed against him. NSEL’s former managing director and CEO Anjani Sinha was removed from his position by the bourse’s board in August amid regulatory scrutiny after the bourse abruptly stopped payments to settle outstanding trades to investors.
London-based HSBC said on Thursday it will exit its retail broking business in India, the latest global bank to scale back operations in the country.About 300 jobs will be cut as a result, a spokesman said.
Indian oil marketing companies (OMCs) like IOC , HPCL and BPCL have decided to hold back on a petrol price cut, reported CNBC-TV18. The decision was taken on Tuesday at the fortnightly review meeting of prices and under recoveries.
Economy news:
The Enforcement Directorate, which probed the alleged contravention of foreign exchange laws by Walmart in its investments in domestic supermarket chain Bharti Enterprises, has found no violation of FDI guidelines by the U.S. multinational retail giant.
The anti-corruption watchdog Transparency International has admonished Chinese companies for their opaque business practices while praising Indian firms’ relatively high standards, in a survey of emerging market multinationals released on Thursday.