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Published: Saturday 17 August, 2013

online outlet store online outlet store ?Asia markets up

South Koreas KOSPI index and Australias All Ordinaries ind online outlet store ex rose about 2 percent. Tokyos Nikkei index was up 1 percent, and Hong Kongs Hang Seng was flat. stocks fell, retreating after last weeks big ra online outlet store lly as investors digested Presidentelect Barack Obamas stimulus plan, monthly auto sales and surging oil prices.

The Dow Jones industrial average lost 81 points, 0.9 percent, to fall back below the 9,000. The Standard Poors 500 index shed 0.5 percent and the Nasdaq composite slid 0.3 percent.

London, Paris and Frankfurt closed up 0.4 percent, 0.3 percent and 0.2 percent respectively Monday.

Even with some losses on Wall Street Monday, the market has a better tone to it, said Donald Selkin, chief market strategist at National Securities. He noted that while the major gauges are lower, the broader market is higher, with winners topping losers on the New York Stock Exchange. On the Nasdaq, winners and losers were roughly even.

Stocks had rallied Friday, with the Dow closing above 9,000 for the first time in two months, as investors pulled money out of bonds and put it to work in beatendown equities.

Stocks are coming off a classic endofyear Santa Claus rally. According to the Stock Traders Almanac, a combination of the last five trading days of the previous year and the first two of the next have yielded an average return of 1.5 percent for the S 500 since 1950. The S is up 7.3 percent through Friday.

On Friday, we had the best firstdayoftheyear rally since 2003, and that year was a comeback year after a terrible bear market, Selkin said. We could see something similar this year, although I think any gains will be smaller.

In 2003, stocks bounced back from a threeyear bear market, with the S 500 gaining 26 percent.

Obama met Monday with leaders of both parties to start pushing for his economic stimulus plan. The plan will include $300 billion in tax cuts for businesses and individuals, and provisions for renewableenergy production and road and school constru online outlet store ction.

The nations automakers reported December sales results during the session. Ford Motor said sales fell 32 percent in the month, a slightly narrower loss than what analysts had been expecting. General Motors said sales fell 31 percent in December, also slightly narrower than what analysts had forecast.

Toyota reported that sales fell 37 percent in the month, while Chrysler reported sales fell 53 percent.

Market breadth was mixed. On the New York Stock Exchange, winners narrowly topped losers on volume of 1.06 billion shares. On the Nasdaq, advancers beat decliners by a narrow margin on volume of 1.64 billion shares.

Treasury prices tumbled, raising the corresponding yield on the benchmark 10year note to 2.49 percent from 2.37 percent Friday. Treasury prices and yields move in opposite direction. Yields on the 2year, 10year and 30year Treasuries all hit record lows last month.

Lending rates were mixed. The 3month Libor rate rose to 1.42 percent from 1.41 percent Friday, a 41/2year low. Overnight Libor held steady at 0.12 percent. Libor is a key bank lending rate. online outlet store