US job data disappoints: 10 things to know before the opening bell

Global cues:

US stocks climbed on Tuesday, pushing the S&P 500 to yet another record high, after weaker-than-expected job creation last month reinforced expectations the Federal Reserve will hold the course on its economic stimulus into next year. The Dow Jones Industrial Average gained 0.5 percent, while the S&P 500 advanced 0.6 percent and Nasdaq Composite gained 0.2 percent.

Asian marketswere trading higher following disappointing jobs data from the US which may put pressure on the Fed to keep its liquidity hose spraying. Japan’s Nikkei Stock Average was up 0.3 percent, while Hong Kong’s Hang gained 0.4 percent and China’s Shanghai Composite was flat.

[caption id=“attachment_1178367” align=“alignright” width=“380”]  Representational image. Reuters.[/caption]

The dollar wobbled near two-year low against the euro on Wednesday after disappointing U.S. jobs data cemented expectations that the Federal Reserve will keep its stimulus in place at least until early next year.

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Gold rose over 2 percent to three-week highs on Tuesday as weak U.S. jobs figures raised expectations the Federal Reserve will continue into next year its massive stimulus program that has bolstered bullion prices.

Business/Stock news:

Britain’s drug regulator revoked the quality compliance certificate for a Wockhardt Ltdfactory in India, the drugmaker said on Tuesday, the third of its plants to be hit by export restrictions this year.The UK Medicines and Healthcare Products Regulatory Agency will instead issue a restricted certificate, which means Wockhardt will be able to supply only “critical” products from the factory located in Kadaiya in western India, the company said in a statement.

WiproLtd, India’s third-largest IT services exporter, beat quarterly profit expectations as revenue in its core business grew at the fastest rate quarter-on-quarter in almost two years, thanks to higher spending by its biggest clients.

Reliance Jio Infocomm owned byMukesh Ambanihas received a unified licence which would allow the telecom player to offer all services including voice telephony under a single licence.

Economy news:

In what came as almost like a Diwali bonaza for India’s public sector banks, the finance ministry has released Rs 14000 cr for their capitalisation on Wednesday. The break up was decided in a meeting attended by PSB chiefs and the finance minister. What’s even better, the government has promised to give banks more than the budgeted amount of 14,000 crore as capital through a second tranche that will come in before March.

Onion prices soared to all-time high of Rs 90 per kg in major cities yesterday, prompting the government to consider importing the commodity to cool rates. Blaming traders for creating artificial scarcity, the government said it will restrict onion exports till prices stabilise. An immediate ban was, however, ruled out.