Major US indices fell on disappointing earnings from Google and Microsoft - ZENMoney

In US markets, Major indicies fell on the back of disappointing earnings from Google Inc and Microsoft Corp. The better-than-forecast results from General Electric Co and from other companies supported the indicies at lower levels. The equities futures got a brief boost after the People's Bank of China said it will remove the floor on lending rates offered by financial institutions along with continued support from Federal Reserve Chairman Ben S. Bernanke stimulus program.

On the European front, the British benchmark indices fell after Google Inc. and Microsoft Corp. posted worse-than-projected earnings and a fall in ARM Holdings Plc ahead of results next week. The comments from Federal Reserve Chairman Ben S. Bernanke that the U.S. central bank remains flexible on when to reduce its asset purchases continued to support the indicies.

Nikkei opened on a positive note during the morning session after PM Shinzo Abe's ruling coalition solidified control of Japan's parliament in elections yesterday. NEC Corp. led gains on the Nikkei on a report that the computer manufacturer will form a server partnership with Hewlett-Packard Co. Sony Corp.

Source : Equity Bulls

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