The marked decline in the unemployment rate is a little misleading. Mohamed El-Erian, chief economic adviser at Allianz in Newport Beach, California, described the jobs report as "solid" and said it would further encourage the Fed to hike rates in mid-December.
Oil prices fell early on Tuesday on doubts that producer cartel Opec will be able to hammer out a meaningful output cut during a meeting on Wednesday to rein in a global supply overhang and prop up prices. Falih also said OPEC was focusing on reducing output to a ceiling of 32.5 million barrels per day, or cutting by more than 1 million bpd, and hoped Russian Federation and other non-OPEC members would contribute a cut of another 0.6 million bpd.
However, both Sensex and Nifty were above 72 and 18 points respectively in the early tradings. The key Indian indices traded in the red - with losses of nearly half a percent each, as heavy selling pressure was witnessed in consumer durables, automobile and oil and gas stocks.
The key indices fell to their new six-month lows due to heavy selling pressure in automobile, banking and metal counters. The broader Nifty index slid 67.80 points or 0.84 percent to 7,965.50. The global and domestic investors were jittery on the prospects of a U.S. rate hike which can potentially lead foreign portfolio investors (FPI) and funds away from emerging markets such as India.
Tata Sons, the company's promoter with 31.05 percent stake, had asked Tata Power to convene an EGM for passing a resolution for removal of Mistry as a director from the board. "We will review our assessment if we see greater control of Tata Sons over the board, strategy, and cash flows of individual companies", S&P said. Mistry is backed by his father, who is India's fourth-richest man, and the family holds 18.5 per cent of Tata Sons.
They expect $2.07 earnings per share, up 47.86% or $0.67 from last year's $1.4 per share. Earnings per share for the recently concluded quarter is expected to come in at $0 a share with $46.84B in revenue. UnitedHealth Group Incorporated, incorporated on January 25, 1977, is a health and well-being company. $768,924 worth of shares were sold by WILENSKY GAIL R on Friday, June 10.