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18 Mar 10 : Market Update
Pre-Market Open Commentary for 18 March 2010 DJIA: 10733.67 +47.69 Nasdaq Composite: 2389.09 +11.08 US market continued its seven consecutive day of advance on Wednesday following decisions by the US and Japanese central banks to keep interest rates low, upbeat economic readings and the Senate passed a key jobs bill. In a widely expected move, the US Federal Reserve (Fed) voted to keep interest rates at historical lows near zero percent and echoed past statements that rates will remain “exceptionally low” for an “extended period” of time. The market also welcomed Japan’s decision to hold interest rates at a low 0.1% and double the amount of money available to banks through a short-term lending program. Positive sentiment continued with the release of upbeat economic readings on Producer Price Index (PPI), which fell 0.6% in February, lower than an expected fall of 0.2%, from a 1.4% gain in January. Core-PPI excluding the volatile food and energy prices, rose 0.1% in February, in line wit
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